>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • QADA -13.7%, ZOES -10.5%, GME -7%, SPLK -5.1%
Other news:
  • SPI -12.4% (modestly pulling back)
  • TPIC -9.1% (TPI Composites was notified by General Electric International, Inc. (GE) that GE does not intend to extend its supply agreement)
  • TRIL -7.3% (commences offering of its common shares and Series II Non-Voting Convertible First Preferred Shares)
  • TRGP -4.5% (prices 17 mln shares of common stock at $46.10 per share)
  • CGIX -3.8% (files for $100 mln mixed securities shelf offering)
  • HGV -2.3% (Hilton Grand Vacations files for 15,008,689 share common stock offering by the selling stockholders)
Analyst comments:
  • JKS -5.9% (downgraded to Underweight at Morgan Stanley; to Sell at Citi)
  • SHPG -2.2% (downgraded to Mkt Perform from Outperform at Bernstein)
  • TRIP -1.2% (downgraded to Underperform from Neutral at Macquarie)
  • E -1% (downgraded to Underperform from Neutral at Exane BNP Paribas)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • NTNX +16.8%, DECK +12.3%, BIG +8.2%, EGHT +6.8%, VEEV +5.8%, TOUR +4.8%, LGF.A +3.7%, ULTA +2.7%, COST +1.7%, CAL +1.3%, FND +0.9%,VNET +0.9%
Other news:
  • AFSI +8.4% (will issue common equity to raise gross proceeds of $300 million through a private placement with members of the Karfunkel family)
  • BIG +8.2% (following COST earnings and ahead of its own earnings release)
  • SQNS +5.3% (extending this afternoon's move higher)
  • CLNE +3.4% (awarded a renewable natural gas (RNG) contract)
  • MTDR +2.7% (will replace Western Refining in the S&P MidCap 40)
  • CDXC +2.2% (announced the closing of the $16.4 million second tranche of the strategic investment of up to $25 million led by Hong Kong business leader Mr. Li Ka-shing)
  • AERI +1.9% (prices $75 mln (upsized from $50 mln) common stock offering at $53.75/share)
  • ICPT +1.8% ( announces that Health Canada has granted a conditional approval for Ocaliva for the treatment of primary biliary cholangitis )
  • MNK +1.1% (highlights first patients in company-sponsored prospective observational registry on the use of H.P. Acthar Gel following acute multiple sclerosis relapse)
  • BBRY +0.7% (reaches agreement w/ Qualcomm (QCOM); arbitration panel has issued a final award providing for the payment by Qualcomm to BlackBerry of a total amount of $940 mln for calendar 2016 and 1Q17)
  • NEWR +0.5% (featured on Thursday's Mad Money)
Analyst comments:
  • INFN +3.5% (upgraded to Outperform from Market Perform at Wells Fargo)
  • RRGB +1.4% (upgraded to Buy from Hold at Canaccord Genuity)
  • NCLH +1% (upgraded to Outperform from Neutral at Wedbush)

>>> Weibo's controlling shareholder SINA board authorized and approved the distr

Weibo's controlling shareholder SINA board authorized and approved the distribution of shares of Weibo to the shareholders on a pro rata basis (77.57)
  • SINA will distribute one Weibo Class A ordinary share to the holder of each ten SINA ordinary shares. Holders of SINA ordinary shares that are settled through DTC will receive Class A ordinary shares represented by Weibo ADSs. The Weibo share distribution will be payable on or about July 10, 2017, to shareholders of record as of the close of business on June 7, 2017.
  • Following the distribution of the Weibo shares, SINA's equity stake in Weibo will decrease from ~49% (or ~74% by voting power) currently to ~46% (or ~72% by voting power)

>>> Etihad set to hire advisors to review Air Berlin stake - report

Etihad set to hire advisors to review Air Berlin stake - report
26 MAY 2017
Air Berlin [AB1:DE] shareholder Etihad Airways is on the verge of appointing advisors to review options for its shareholding in the German carrier, according to a newswire report.
Bloomberg, citing unidentified individuals, said the look at strategic options, including a potential divestment, forms part a wider look into the Middle East group's stakes in troubled airlines. The Abu Dhabi-based carrier could still opt to retain the 29.2% stake, the people said.
Air Berlin's market market early afternoon on Friday was about EUR 107m.
Including bonds and loans, Etihad's exposure to the German airline is almost EUR 2bn.

>>> US Early premarket gappers

Early premarket gappers
Gapping up: NTNX +18.4%, DECK +13%, AFSI +8.6%, BIG +7.5%, BIG +7.5%,EGHT +6.1%, VEEV +5.4%, SQNS +5.3%, ZSAN +4.5%, MTDR +4%, LGF.A +3.7%,ULTA +3%, CDXC +2.2%, COST +1.9%, ICPT +1.8%, CAL +1.3%, MNK +1.1%, FND+0.9%, VNET +0.9%

Gapping down: QADA -13.7%, ZOES -10.8%, TPIC -9.1%, TRIL -7.3%, SPLK-5.4%, GME -5%, TRGP -4.5%, CGIX -3.8%, HGV -2.3%, NEWT -0.9%, TOUR -0.5%

>>> Drillisch to review United Internet offer within two weeks

Drillisch to review United Internet offer within two weeks
26 MAY 2017
In connection with the proposed acquisition of 1&1 Telecommunication SE by Drillisch AG, today United Internet AG, the parent company of 1&1, published the offer document for the concurrent voluntary public tender offer for Drillisch. In response, a spokesman for Drillisch stated:
"Drillisch has taken notice of the publication of the offer document for the concurrent tender offer by United Internet. In compliance with their statutory obligations, the Management Board and the Supervisory Board will thoroughly review the offer and expect to issue a reasoned statement within two weeks. The publication of the offer document initiates an intermediate stage of the overall transaction. The first step of the acquisition of 1&1 was successfully completed with the registration of the Capital Increase I in the commercial register on May 16, 2017. However, the expected growth opportunities and synergies can only be realized for the shareholders of Drillisch in case of a successful conclusion of the overall transaction. Therefore, we are continuously working towards the second step of the acquisition of 1&1 and ask our shareholders for approval at the extraordinary general meeting scheduled July 25, 2017."