Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- ANW -25.7%, OOMA -15%, DY -14.4%, CHS -10.7%, TIF -5.5%, GOGL -3.7%, AAP -3.7%, LOW -3.4%
M&A news:
- BG -6.4% (issues statement regarding Glencore (GLNCY); not in discussions with Glencore)
Select metals/mining stocks trading lower - likely due to China exposure following Moody's downgrade:
- MT -1.4%, RIO -1.3%, BHP -0.9%, FCX -0.7%, CLF -0.7%
Select energy related names showing early weakness following PJM capacity auction results:
- DYN -3.7%, CPN -1.8%, EXC -0.5%
Other news:
- CVM -37.5% (provides update on clinical hold communications with the FDA regarding the previously announced partial clinical hold of CEL-SCI's Phase 3 clinical trial of its investigational drug Multikine in letter to shareholders)
- NBIX -8.5% (Neurocrine Biosci announces that the initial Phase II Tourette syndrome T-Force GREEN study of INGREZZA did not meet its primary endpoint)
- SNDX -6.6% ( to offer and sell $50 million of its common stock in an underwritten public offering)
- STNG -6.2% (Scorpio Tankers announces merger agreement with Navig8 Product Tankers and the launch of a concurrent public offering of common shares)
- UHS -4.9% (seeing continued weakness on reports of expanded probe)
- ALNY -3.3% (commences underwritten public offering of 5 mln shares of its common stock)
- TTD -1.3% (prices follow-on offering of 4,316,452 shares of common stock by selling stockholders at $52.00 per share)
Analyst comments:
- CIEN -3.2% (downgraded to Hold from Buy at Deutsche Bank)
- WHLR -1% (downgraded to Mkt Perform from Mkt Outperform at JMP Securities)
- ZION -0.6% (downgraded to Neutral from Buy at Goldman)
Gapping up
In reaction to strong earnings/guidance:
In reaction to strong earnings/guidance:
- TCS +39.8%, TLYS +21.6%, SDRL +13.7%, INTU +8.6%, TGI +7.2%, VSAT +5.4%, NM +2.2%
M&A news:
- FGL +6.3% (to be acquired by CF Corp (CFCO) for $31.10/share in cash or a total of ~$1.835 billion)
Other news:
- INO +64.8% (announces that its HIV vaccine, PENNVAX-GP, 'produced amongst the highest overall levels of immune response rates (cellular and humoral) ever demonstrated in a human study by an HIV vaccine')
- XGTI +9.8% (xG Technology entered into a purchase agreement with Lincoln Park Capital Fund and announces receipt of approx. $3 mln in new order and pre-order commitments directly resulting from their appearance at the NAB 2017 Show; upwards of 20% of these commitments have been converted into firm orders)
- SPHS +8.7% (received the regulatory clearance topsalysin for the treatment of patients with urological diseases; clinical sites can now begin dosing eligible patients in a Phase 2b study in localized prostate cancer)
- UNXL +7.9% (confirmed management and directors acquire shares in the open market)
- GLYC +7.4% (continued strength -- offering: prices 7 mln (upsized from 6 mln) common stock offering at $11.50/share)
- NAVB +6.7% (CFO disclosed purchase of 25K shares worth about $11K)
- INSY +5% (FDA approval for the final product label for Syndros oral solution)
- MGEN +3.7% (granted orphan medicinal product designation by the EC to miRagen's product candidate, MRG-106)
- NVDA +2.8% (Softbank (SFTBY) has purchased stake in NVDA, according to Bloomberg)
- MIRN +2.2% (ticking higher after Synlogic files 13D - previously announced plans to acquire Mirna)
- ADI +2.2% (likely in sympathy with NVDA)
- AEO +2% (maintains $0.125 quarterly dividend)
- HZNP +1.6% (Horizon Pharma to sell marketing rights to PROCYSBI delayed-release capsules and QUINSAIR in Europe, EMEA regions to Chiesi Farmaceutici for an upfront payment of $70 mln; co now sees FY 17 net sales of $985-1020 mln)
- AMD +1.4% (likely in sympathy with NVDA)
- STM +1.4% (likely in sympathy with NVDA)
Analyst comments:
- DSX +3.5% (upgraded to In Line from Underperform at Evercore ISI)
- X +1.8% (upgraded to Outperform from Neutral at Credit Suisse)
- DSW +1.5% (upgraded to Neutral from Negative at Susquehanna)
- STLD +1.3% (upgraded to Outperform from Neutral at Credit Suisse)
- CBT +1.1% (upgraded to Buy from Neutral at Northcoast)
--> INO +61% 400k shares traded
HIV Vaccine elicits nearly 100% Immune Response rates in clinical study amongst highest levels of immune responses ever demonstrated in an HIV vaccine human study Announced that its HIV vaccine, PENNVAX-GP, produced amongst the highest overall levels of immune response rates (cellular and humoral) ever demonstrated in a human study by an HIV vaccine. The vaccine candidate, PENNVAX-GP, consists of a combination of four HIV antigens designed to cover multiple global HIV strains and generate both an antibody (humoral) immune response as well as a T cell (cellular) immune response to both potentially prevent and treat HIV.These preliminary results are from a study supported by the HIV Vaccine Trials Network (HVTN) and the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH) in collaboration with Inovio. The study evaluated a four-dose regimen of PENNVAX-GP DNA vaccine administered by intradermal (ID) or intramuscular (IM) administration in combination with a DNA encoded immune activator, IL-12 (INO-9012). Overall, 71 of 76 (93%) evaluable vaccinated participants showed a CD4+ or CD8+ cellular immune response to at least one of the vaccine antigens (env A, env C, gag, or pol). Similarly, 62 of 66 (94%) evaluated participants demonstrated an env specific antibody response. None of the placebo recipients (0 of 9; 0%) demonstrated either a cellular or an antibody response in the study. Notably, amongst the participants receiving PENNVAX-GP vaccine and IL-12 with intradermal immunization, 27 of 28 (96%) participants demonstrated a cellular response and 27 of 28 (96%) demonstrated an HIV env specific antibody response.Amongst the evaluated participants receiving PENNVAX-GP and IL-12 via IM vaccination, 27 of 27 (100%) demonstrated a cellular response and 19 of 21 (90%) demonstrated an env specific antibody response. Similar immune responses and response rates were achieved via both ID and IM administration of the vaccine although participants vaccinated via intradermal vaccine administration received 1/5th the dose of vaccine compared to those vaccinated via intramuscular administration.This breakthrough data was presented at a plenary session at the 2017 HVTN Spring Full Group Meeting on May 23 in Washington, D.C. by the Protocol Co-Chair of the HVTN 098 study, Dr. Stephen De Rosa, Research Associate Professor, Laboratory Medicine at the University of Washington and Fred Hutchinson Cancer Research Center. The HVTN 098 trial was the first clinical study of PENNVAX-GP. The randomized, placebo-controlled multi-center study enrolled 94 subjects (85 vaccine and 9 placebo) to characterize and optimize PENNVAX-GP immunization regimens delivered through vaccinations using either intramuscular or intradermal delivery.Development of Inovio’s PENNVAX-GP immunotherapy, which widely targets multiple major clades of HIV — providing global coverage — has been funded through a $25 million NIAID contract previously awarded in 2009 to Inovio and its collaborators. In addition, Inovio and its collaborators were awarded an additional five-year $16 million Integrated Preclinical/Clinical AIDS Vaccine Development (IPCAVD) grant in 2015 from NIAID.
Early premarket gappers
Gapping up:
- TCS +36.6%, TLYS +16.6%, SDRL +13.7%, SPHS +9.5%, INTU +8.4%, UNXL+7.9%, GLYC +5.4%, VSAT +5.4%, X +2.7%, HMNY +2.6%, NVDA +2.6%,SBGL +2.6%, DSX +2.5%, MIRN +2.2%, DRYS +2.2%, AEO +2%, RIG +1.8%,GFI +1.6%, HEI +1.6%, ADI +1.3%, AKS +1.2%, AMD +1.2%, STM +1.2%,RBS +1%, AAP +1%, DRD +0.9%, HMY +0.9%, HZNP +0.8%, VOD +0.6%
Gapping down:
- ANW -22.4%, OOMA -15%, DY -8.5%, BG -8.2%, NBIX -8.1%, XGTI -6.2%,SNDX -5.9%, TIF -5.5%, UHS -5%, STNG -4.8%, DYN -4.6%, LOW -4.3%, CS-4.1%, GOGL -3.4%, ALNY -3.2%, CPN -1.8%, TTM -1.8%, NOK -1.4%, MT-1.4%, RIO -1.2%, TTD -1.1%, DB -1%, ING -0.8%, FCX -0.8
Tiffany & Co beats by $0.04, misses on revs; provides outlook commentary for FY18 (93.14)
- Reports Q1 (Apr) earnings of $0.74 per share, $0.04 better than the Capital IQ Consensus of $0.70; revenues rose 0.9% year/year to $899.6 mln vs the $915.48 mln Capital IQ Consensus.
- In the Americas, total sales of $392 million were 3% lower than the prior year and comparable store sales declined 4%. There was no impact from currency translation on reported sales.
- In the Asia-Pacific region, total sales of $257 million were 8% above the prior year, while comparable store sales declined 3%.
- Gross margin (gross profit as a percentage of net sales) increased to 62.0% in the first quarter, from 61.2% a year ago.
- Outlook: Management's outlook for the fiscal year ending January 31, 2018 calls for: Worldwide net sales increasing over the prior year by a low-single-digit percentage (Capital IQ consensus +2.8%) as reported and on a constant-exchange-rate basis and (ii) net earnings per diluted share increasing by a high-single-digit percentage over 2016's earnings per diluted share of $3.55 and by a mid-single-digit-percentage over 2016's earnings per diluted share (excluding charges) of $3.75 (Capital IQ consensus +5.3%). These expectations are approximations and are based on the Company's plans and assumptions, including: (i) worldwide gross retail square footage increasing 2%, net through 10 store openings, seven relocations and seven closings; (ii) operating margin above the prior year entirely due to an expected increase in gross margin, with SG&A expenses increasing slightly faster than sales growth.