TheChek News Flow

Early premarket gappers

Gapping up:

• OGXI +25%, ILMN +10.2%, OMI +9%, PZZA +7.9%, CORT +7.1%, FEYE +6.7%, ARC +6.6%, GNW +6.2%, AAPL +6%, GSS +5.8%, VVV +5.6%, VNOM +5.4%, CLDX +5.3%, GRMN +5.2%, CRUS +5%, FMI +5%, BOOT +4.9%, CRTO +4.9%, TMHC +4.9%, HBI +4.6%, SCMP +4.2%, LOPE +4.1%, DXCM +4%, LNTH +4%, TX +3.7%, TEX +3.5%, FMC +3.4%, SWKS +3.1%, DVN +3.1%, NI +2.9%, AVGO +2.7%, QRVO +2.7%, ARI +2.7%, EYES +2.5%, ALL +2.3%, APO +2.3%, OCUL +2%, FANG +2%, MU +1.9%, ZAGG +1.7%, AMD +1.5%, NJR +1.5%, CG +1.4%, NVMI +1.3%, TWX +1.3%, JNPR +1.2%, BG +1.1%, CYH +1%, MDLZ +0.9%, NVDA +0.8%, WDC +0.8%, PAYC +0.8%, ADI +0.7%, JD +0.7%, T +0.6%, DRYS +0.6%, AMZN +0.6%, DISCA +0.5%, FB +0.5%, NFLX +0.5%

Gapping down:

• RSYS -25.8%, AMC -24%, MTSI -22.2%, BGFV -15.5%, COHR -12.7%, ULTI -12.3%, FARO -9.4%, NANO -8.2%, SPWR -6.5%, UIS -6.3%, MTCH -6%, MRCY -5.9%, ATRO -5.8%, SSTK -5.7%, TRUP -4.7%, RMD -4.7%, PXD -4.5%, TNXP -4.1%, HLF -3.8%, FTR -3%, EOG -2.9%, RGC -2.8%, RIO -2.7%, FISV -2.5%, SKT -2.1%, FSLR -2%, VOYA -1.9%, GLUU -1.5%, RRC -1.5%, SLRC -1.4%, DKS -1.3%, DVAX -1.3%, TAP -1.3%, RUBI -1.2%, CSU -1.1%, PBA -0.9%, WAGE -0.8%, AERI -0.8%, RRD -0.8%, WAC -0.7%, KLIC -0.6%, COST -0.5%

Gapping down
In reaction to disappointing earnings/guidance:

• AMC -24.5%, (AMC Entertainment sees Q2 rev below consensus; sees net loss including write-down of National CineMedia (NCMI) investment; announces restructuring), MTSI -21.8%, RSYS -20.5%, BGFV -16.9%, COHR -14.2%, ULTI -13.9%, SSTK -13.7%, FARO -9.4%, PXD -8.2%, NANO -8.2%, AN -7.1%, SPWR -6.5%, UIS -6.3%, MTCH -6%, (also names Mandy Ginsberg to succeed Greg Blatt as CEO), MTCH -6%, MRCY -5.9%, RMD -5.9%, RMD -5.9%, ATRO -5.8%, FTR -5.6%, TRUP -4.7%, HLF -3.8%, (also promotes Dave Pezzullo to Chief Operating Officer), RIO -3.1%, EOG -2.9%, CSTE -2.7%, FISV -2.5%, SKT -2.1%, VOYA -1.9%, (also Voya Financial discloses entry into Master Agreement for Outsourced Services with Cognizant Technology Solutions), GLUU -1.5%, RRC -1.5%, SLRC -1.4%, (Solar Capital acquires NEF Holdings; co invested approximately $210 million to effect the transaction), RUBI -1.2%, ING -1.2%, CSU -1.1%, DVAX -1%

Other news:

• TVIA -58.4% (files voluntary Chapter 11 petitions to facilitate sale process with a commitment for DIP financing to support ongoing operations)
• TNXP -4.1% (discloses entry into Sales Agreement with Cowen and Company to sell shares of its Common Stock having an aggregate offering price of up to $9 mln)
• RGC -2.8% (following AMC guidance)
• DKS -1.3% (following BGFV results)
• WAC -0.7% (entered into a Restructuring Support Agreement with its senior lenders holding more than 50% of the loans and/or commitments outstanding)
• COST -0.5% (announces death of co-founder and Chairman of the Board Jeff Brotman)

Analyst comments:

• UAA -0.6% (downgraded to Neutral at Citibank)

Gapping up
In reaction to strong earnings/guidance:

• PMC +15.4%, ILMN +11%, GSS +10.6%, OMI +9%, FEYE +7.6%, GRMN +7.5%, CORT +7.1%, ARC +6.6%, AMRN +6.4%, CRTO +6.4%, GNW +6.2%, (merger agreement deadline with China Oceanwide extended to November 30, 2017 ), PZZA +5.9%, (also authorizes $500 mln increase to its share repurchase program), VVV +5.6%, AAPL +5.5%, VNOM +5.4%, ONCE +5.1%, FMI +5%, BOOT +4.9%, TMHC +4.9%, HBI +4.6%, SPAR +4.5%, SCMP +4.2%, LOPE +4.1%, DXCM +4%, LNTH +4%, TX +3.7%, FMC +3.4%, DVN +3.1%, FANG +3.1%, NI +2.9%, ARI +2.7%, SODA +2.7%, MDLZ +2.6%, NVMI +2.6%, EYES +2.5%, ALL +2.3%, DNOW +2.3%, ZAGG +1.7%, TEX +1.6%, NJR +1.5%, HBP +1.4%, CG +1.4%, TWX +1.3%, TWX +1.3%, OZM +1.3%, BG +1.1%, CYH +1%

M&A news:

• OGXI +22.6% (Achieve Life Sciences closed previously announced merger with OncoGenex; to commence trading on NASDAQ Capital Market on August 3 under ticker symbol ACHV)
• PMC +15.6% agrees to be acquired by a newly formed company controlled by KKR, w/ Walgreens (WBA), for $29.25/share)
• TECK +1.1% (reports BC Hydro exercised right of first offer to purchase Teck's 2/3 interest in Waneta Dam in British Columbia for $1.2 bln)

Select AAPL related names/tech stocks showing strength:

• CRUS +3.8%, AVGO +2.7%, QRVO +2.7%, SWKS +2.6%, AMD +1.6%, MU +1.5%, ADI +0.7%, NVDA +0.7%, . 

Other news:

• CLDX +4.1% (continued strength), OCUL +2% (approves strategic restructuring to eliminate a portion of the Company's workforce as part of an initiative to enhance operations and reduce expenses; appoints Antony Mattessich CEO, effective immediately), DISCA +0.5% (CFO disclosed purchase of 20000 shares worth more than $460K ), . 

Analyst comments:

• SQNS +1.3% (re-initiated after the close with Outperform at Robert W. Baird; tgt $5)
• OZRK +1% (initiated with a Overweight at Morgan Stanley)