>>> BMW Group, Intel and Mobileye to have autonomous test vehicles on the roads

BMW Group, Intel and Mobileye to have autonomous test vehicles on the roads by H2'17 

- BMW Group, Intel and Mobileye today announced that a fleet of approximately 40 autonomous BMW vehicles will be on the roads by the second half of 2017, demonstrating the significant advancements made by the three companies towards fully autonomous driving. Revealing this at a podium discussion held during a joint press conference at CES, the companies further explained that the BMW 7 Series will employ cutting-edge Intel and Mobileye technologies during global trials starting in the U.S. and Europe- Mobileye contributes its proprietary EyeQ5 high-performance computer vision processor offering automotive-grade functional safety and low-power performance. The EyeQ5 is responsible for processing and interpretation of input from the 360-degree surround view vision sensors as well as localization. EyeQ5, in combination with Intel CPU and FPGA technologies, forms the Central Computing Platform to be integrated into each autonomous vehicle.- Mobileye will further collaborate with the BMW Group to develop the sensor fusion solution, creating a full model of the environment surrounding the vehicle, using input from vision, radar, and lidar sensors. As well as establishing a driving policy, including Mobileyes reinforcement learning algorithms used to endow the vehicle system with the artificial intelligence required to safely negotiate complex driving situations.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • DLR -0.5%, ( sees FY17 funds from operations of $5.90-6.10 vs $6.02 Capital IQ Consensus Estimate; FY16 $5.65-5.75 vs. $5.69 consensus)
Other news:
  • AGRX -62.4% (announces 'positive' top-line results from its Phase 3 SECURE clinical trial of Twirla; plans to resubmit its NDA for Twirla in the first half of 2017 on the basis of the SECURE results)
  • ACUR -10.7% (announces they are exploring a full range of financing and strategic alternatives, including a possible sale of the company)
  • ARR -3% (announces January 2017 dividend rate per common share of $0.19 vs $0.22/share prior month)
  • CLVS -2.7% (prices / upsizes public offering of 5 mln shares of common stock at $41/ per share)
  • TSLA -1% (Misses Q4 delivery targets on production delays related to new autopilot hardware; net orders set new record)
  • SFR +-0.5% (commences a private offering of $250 million aggregate principal amount of convertible senior notes due 2022)
Analyst comments:
  • COG -2.2% (downgraded to Underperform at BofA/Merrill)
  • STM -2.2% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
  • VRX -1.4% (target lowered to $11 from $16 at Piper Jaffray)
  • OSK -1.2% (downgraded to Hold from Buy at Deutsche Bank)
  • DNKN -1.1% (downgraded to Underperform from Hold at Jefferies )
  • SWN -1.1% (downgraded to Underperform at BofA/Merrill)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: N/A
M&A news:
  • REXX +4.5% (Antero (AR) will acquire the company's Ohio Utica assets in the Warrior South Area for net proceeds at closing of approx. $30.0 mln)
  • NVLS +4.3% (initiated a process to explore and review a range of strategic alternatives)
Select metals/mining stocks trading higher:
  • MUX +1.9%, SBGL +1.6%, GFI +1.5%, SLV +1%, NEM +0.9%, GDX +0.9%, ABX +0.8%
Other news:
  • CBAY +41.6% (Kowa Pharmaceuticals America announces agreement with CymaBay Therapeutics to license gout compound)
  • BLPH +24.1% (receives confirmation of the FDA's acceptance of all modifications proposed by the co to its Phase 3 program for INOpulse )
  • OCUL +9% (announces additional successful results for Phase 3 clinical trial of Dextenza)
  • ECA +5% (anticipates production growth from its core four assets from 4Q16 to 4Q17 will be in the upper range of, or exceed, its previously indicated growth plan of 15-20% Y/Y)
  • SHAK +4.6% (to Join S&P SmallCap 600)
  • NVLS +4.3% (initiated a process to explore and review a range of strategic alternatives)
  • KOPN +3.5% (continued strength)
  • DEPO +3.2% (continued strength)
  • XRX +3% (continued strength)
  • RYAAY +2.2% (reports Dec traffic rose 20% YoY)
  • FOLD +1.4% (announced that the National Institute for Health and Care Excellence Highly Specialised Technologies Evaluation Committee has issued a positive final evaluation determination for reimbursed patient access to Galafold)
  • CC +1.2% (to join S&P MidCap 400),
Analyst comments:
  • GBT +6.6% (initiated with a Overweight at JP Morgan),
  • CS +3.7% (upgraded to Overweight from Equal Weight at Barclays)
  • STZ +2.8% (upgraded to Buy from Underperform at BofA/Merrill )
  • RDS.A +1% (upgraded to Outperform at RBC Capital Mkts)
  • MO +0.9% (upgraded to Buy from Neutral at BofA/Merrill)
  • PIR +0.7% (initiated with a Buy at Loop Capital)
  • A +0.7% (upgraded to Overweight at Barclays)

>>> US Early premarket gappers

Early premarket gappers

Gapping up: CBAY +50.5%, DEPO +12.5%, NVLS +9.3%, SHAK +4.5%, CS +3.1%, DB +2.8%, KOPN +2.6%, RYAAY +2.2%,XRX +2%, SBGL +2%, STZ +1.9%, PIR +1.7%, CC +1.5%, GFI +1.5%, VOD +1.4%, REGN +1.3%, MUX +1.2%, MO +1.2%, F+1.1%, ING +1.1%, SLV +0.9%, ATHN +0.8%, NEM +0.6%, ABX +0.6%

Gapping down: AGRX -67.8%, ACUR -10.7%, WETF -6%, STM -2.7%, CLVS -2%, MT -1.9%, TSLA -1.8%, ARR -1.7%, CNHI-1.4%, CHK -1.3%, RIO -1.1%, LYG -0.9%, BHP -0.9%, SWN -0.7%, SFR -0.5%