>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • SLP +9.7%
M&A news:
  • RCII +16.6% (confirms receipt of letter from Vintage Capital Management to acquire 100% of the common stock in a go-private transaction for $15.00/share)
Other news:
  • FOLD +31.9% (plans to submit a new drug application to the FDA for the oral precision medicine migalastat for Fabry disease in the fourth quarter of 2017)
  • RWLK +17.9% (signed a new, exclusive distribution agreement in France with Harmonie Médical Service)
  • OCUL +15.6% (Ocular Therapeutix submits details of a manufacturing equipment change as an amendment to the NDA resubmission for DEXTENZA 0.4 mg, for intracanalicular use, for the treatment of ocular pain following ophthalmic surgery currently under review by FDA )
  • DRYS +14.7% ( announces motion for temporary restraining order to suspend further issuances of common shares below a certain price was denied)
  • NEOT +12.8% (NeoThetics to initiate process to explore and review strategic alternatives focusing on seeking an acquisition, business combination or partnership )
  • EVGN +9.6% (demonstrates 'positive Fusarium resistance results with Evogene discovered genes' in its collab w/ Monsanto)
  • ITEK +8.4% (modestly rebounding following yesterday's declines)
  • ZN +6.9% (continued weakness)
  • WMLP +4.8% (after spiking approx 1 point/50% higher in late trade)
  • DRRX +2.5% (granted orphan designation by the FDA for its compound for the treatment of primary sclerosing cholangitis)
  • BMRN +2.4% (provides update to Phase 1/2 study of BMN 270)
  • NVCR +1.4% (CEO featured on Monday's Mad Money)
  • ALGT +0.9% (reports June data and updates capacity, TRASM, CASM guidance)
Analyst comments:
  • ICPT +3.6% (initiated with Buy at Jefferies )
  • PRTA +3% (initiated with Buy at Jefferies )
  • VRTX +1% (initiated with Buy at Jefferies )
  • XOM +0.5% (upgraded to Overweight from Equal Weight at Barclays)

(Aegis) Snap: Weaker June usage; Spectacles going the way of Google Glass?

--> SNAP -4.20% pre open 340k shares already traded at 16.39 average

Snap: Weaker June usage; Spectacles going the way of Google Glass? -- Aegis Capital
Aegis notes that in following up with their last note on Snap, "Lukewarm Ad Checks. Trimming Estimates; DAUs Ok; Reducing Price Target To $19", they now see weaker June usage trends and believe that Spectacles are not selling well, both of which are likely to exert downward pressure on ests. On a positive note, they understand that recent product updates are resonating with users, particularly, the Maps and World Lenses features, and that could help with engagement in 3Q17 and beyond. Despite a weaker June, firm continues to believe that Snap is likely to meet their 174M DAU estimate (+8M) for 2Q17, for DAU growth of 22% YoY vs. 36% in 1Q17. However, risks are now to the downside. Firm queried a number of millennial users (<30) about Spectacles and came back with two observations: 1) none had purchased the glasses or know of anyone who did; and 2) when out at beaches, amusement parks, and parties over the July 4th holidays, none had seen anyone with Spectacles; Hold.

>>> US Early premarket gappers

Early premarket gappers
Gapping up:
  • FOLD +42.7%, ARNA +41.4%, RCII +17.1%, RWLK +14.3%, OCUL+13.3%, DRYS +11.5%, DRYS +11.5%, NEOT +9.4%, SLP +8.5%, ITEK+5.3%, WMLP +4.8%, PRTA +3%, GOGL +2.3%, ALGT +0.9%, KTWO+0.6%, KEY +0.5%
Gapping down:
  • VOXX -23.2%, YUMA -13.9%, GTY -8%, CUDA -4.5%, SNAP -3.5%,SHPG -3.5%, ZN -3.2%, JCP -3.1%, SHLO -3%, CARA -2.5%, CTXS-2.4%, OMED -2.2%, KN -2.1%, PSDV -1.8%, YNDX -1.2%, WDFC -0.9%

>>> Gartner Says Worldwide Semiconductor Revenue to Reach $400 Billion in 2017

Gartner Says Worldwide Semiconductor Revenue to Reach $400 Billion in 2017
First-Time Semiconductor Revenue Has Surpassed $400 Billion

Worldwide semiconductor revenue is forecast to total $401.4 billion in 2017, an increase of 16.8 percent from 2016, according to Gartner, Inc. This will be the first time semiconductor revenue has surpassed $400 billion. The market reached the $300 billion milestone seven years ago, in 2010, and surpassed $200 billion in 2000.
"A shortage of memory is creating a boom in the overall semiconductor market," said Andrew Norwood, research vice president at Gartner. "Memory vendors have been able to increase their price for DRAM and NAND, driving revenue and margins higher."
The booming memory market, with revenue forecast to increase 52 percent in 2017, is expected to shake up semiconductor market share rankings. "As the largest memory supplier, Samsung Electronics is set to gain the most," said Mr. Norwood. "This gives Samsung its best shot at capturing the No. 1 position from Intel for the first time."
Intel dethroned NEC for the No. 1 position in semiconductor rankings in 1992 and has held it ever since. Samsung captured the No. 2 position in 2002 and has held that since.
"What the memory market gives, the memory market takes away," said Mr. Norwood. "The memory bubble is expected to go bust in 2019 as memory vendors add new supply and Samsung could lose a lot of the gains it makes this year and next."




Reuters - Syrian Observatory says has 'confirmed information' that Islamic State

Syrian Observatory says has 'confirmed information' that Islamic State chief killed

The Syrian Observatory for Human Rights told Reuters on Tuesday that it had "confirmed information" that Islamic State leader Abu Bakr al-Baghdadi has been killed.

Russia's defense ministry said it may have killed Baghdadi when one of its air strikes hit a gathering of Islamic State commanders on the outskirts of the Syrian city of Raqqa, but Washington said it could not corroborate the death and Western and Iraqi officials have been skeptical.

Reuters could not independently verify Baghdadi's death.

Baghdadi's death, which has been frequently reported since he declared a caliphate from a mosque in the Iraqi city of Mosul in 2014, is one of the biggest blows yet to the jihadist group, which is trying to defend shrinking territory in Syria and Iraq.