>>> US Gapping Down

Gapping down
In reaction to disappointing earnings/guidance: PRGS -9.7%, (also appoints Kurt Abkemeier as CFO succeeding Chris Perkins; initiates quarterly dividend)

Select India related names showing weakness following amid geo-political concerns: IBN -4.7%, TTM -2.6%, INFY -1%

Select metals/mining stocks trading lower: GFI -3%, MT -2.1%, HMY -2%, CLF -1.6%, FCX -0.9%

Other news:
  • ITCI -63.3% (announces top-line results from the second Phase 3 Trial of ITI-007 in patients with Schizophrenia)
  • ADHD -63.2% (receives notice of clinical hold from FDA for co's MDX Phase III MEASURE study)
  • ATNM -20% (prices 8 mln common stock offering at $1.25/share)
  • CHK -4.6% (confirmed it received DOJ, USPS and state subpoenas seeking info on royalty payment practices)
  • MSON -4.5% (thinly traded - notified SEC/DoJ that it may have had knowledge of certain business practices of independent Chinese entity that distributes its products, which practices raise questions under FCPA)
  • NSPR -3.7% (announces a 1-for-25 reverse split of its common stock)
  • ALNY -2.2% (presents clinical and non-clinical data demonstrating continued rnai platform optimization and leadership in the development of RNA-based therapeutics at 12th annual meeting of the Oligonucleotide Therapeutics Society)
  • RIG -1.8% (Carl Icahn lowers active stake to 1.5%)
  • DTE -1.2% (announces 12 mln equity units offering)
  • NVO -1.2% (to reduce work force by 1000 jobs )
Analyst comments:
  • FIT -5.3% (downgraded to Underweight from Sector Weight at Pacific Crest)
  • RIC -1.6% (downgraded to Underperform from Market Perform at BMO Capital)
  • AAPL -0.6% (removed from Top Pick status at Barclays)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • PIR +9.8%, SHIP +9.7%, HIMX +5.4%, (reiterates the Q3 guidance and its business outlook for the remainder of 2016)
  • ACN +3.3%, PEP +2.7%, SCHN +2.2%, CAG +2.2%
M&A news: AMTD +4.3% (Bloomberg report that the company may be interested in acquiring Scottrade)

Select oil/gas related names showing strength: STO +2.1%, RDS.A +1.6%, TOT +1.3%, BP +0.9%

Other news:
  • AEGR +34.5% (announces Juxtapid capsules approved in Japan for the treatment of homozygous familial hypercholesterolemia)
  • CATB +33.9% (Catabasis Pharmaceuticals and Sarepta Therapeutics (SRPT) announce a joint research collaboration to explore a combination drug treatment approach for Duchenne muscular dystrophy)
  • GNCA +19.6% (announces its ongoing Phase 2b trial evaluating a new Phase 3-ready formulation of GEN-003 for the treatment of genital herpes achieved its primary endpoint)
  • ARWR +17.5% (Arrowhead & Amgen (AMGN) announce two license and collaboration agreements to develop and commercialize RNA interference therapies)
  • GSAT +5.8% (NASA completes test flight using Globalstar and ADS-B Technologies' ALAS Aviation Tracking Solution)
  • RGSE +3.1% (continued strength)
  • NSU +1.9% (updates on its Timok Project in Serbia)
  • SRPT +1.2% (announces first patient dosed in Phase III clinical trial of SRP-4045 and SRP-4053 for the treatment of Duchenne Muscular Dystrophy Amenable to Exon 45 or 53 skipping)
Analyst comments:
  • ABEO +7.3% (target raised to $14 at Maxim Group )
  • BCEI +5.7% (upgraded to Hold at Stifel)
  • EBAY +3.6% (upgraded to Buy from Hold at Deutsche Bank)
  • NMBL +3.6% (upgraded to Outperform from Market Perform at Wells Fargo)
  • INCY +1.9% (upgraded to Outperform from Mkt Perform at Raymond James)