--> +ve AF , LH * IAG
Fed's Bullard says rise in dollar has already been priced in; global fears that caused the Fed to delay have largely dissipated; probability of a Dec hike at 80%
Mr. Bullard is a voter in 2016.
Mysterious electric car maker Faraday Future says it'll spend $1 billion on a US factory soon
We still don't know much about Faraday Future, apart from the fact that the California-based company has poached a who's-who of talent from Tesla, BMW, and others, and that it claims that it'll launch an electric car in 2017. And now, we know that it's ready to start spending money: in a press release today, Faraday says that it will invest $1 billion in a manufacturing facility in either California, Nevada, Louisana, or Georgia, but that it hasn't yet decided which one. "Producing our forward-looking and fully-connected electric vehicles not only requires the latest technology, but the right community partner," says Faraday SVP Nick Sampson in the release; it's likely that municipal and state incentives will play a big role, just as they did in Tesla's selection of Nevada for the Gigafactory.
Faraday says that "in addition to producing vehicles, [it] plans to explore other aspects of the automotive and technology industries, including unique ownership and usage models, in-vehicle content and autonomous driving," which is a pretty long list of asks for a company with several hundred employees and no product — particularly in the notoriously brutal auto business. There's no word yet on when the company will show its first vehicle, but its most obvious rival — fellow California EV maker Tesla — plans on showing its Model 3 in March of next year.
Gapping down
In reaction to strong earnings/guidance: MW -38.3%, TNGO -20.2%, GLUU -19.9%, SWIR -18.9%, CMLS -18.6%, CPST -16.3%, PXLW -14%, SKUL -13.4%, GDOT -11.3%, AAOI -9.8%, TRIP -9.6%, ALDR -7.6%, MFLX -7.4%, MMI -7.1%, NEWR -5.6%, CLVS -4.9%, SNTA -4.4%, FICO -4%, GEVO -3.6%, PRAA -3.5%, ACET -3.5%, AMTG -3.4%, MHK -3.3%, TCPI -3.2%, DIOD -3.1%, CLDX -3%, GST -2.4%,SYN -2.1%, BIOC -2.1%, VIP -2%, HAIN -1.9%, KHC -1.9%, INSM -1.8%, HNSN -1.6%, EFC -1.4%, AKAO -1.3%, BBG -1.1%, EOG -1.1%, ABUS -1%
M&A news: NSR -2.3% (agrees to acquire MarketShare Partners for $450 mln ), AZN -1% (acquired ZSPH of ~2.7 bln)
Other news: KBIO -51.8% ( to reduce workforce by ~61%, will explore strategic alternative), CGIX -17.6% (prices 3 mln shares of its common stock at $4.00/share; gross proceeds expected to be $12.0 mln), MRNS -15.9% (to offer and sell shares of its common stock in an underwritten public offering), MCZ -13.6% (entered into $25 mln ATM common stock offering agreement with Ascendiant Capital, reported Q3 results), XOMA-12.6% (Agenus enters into three transactions, including agreement to acquire XOMA's (XOMA) antibody pilot plant manufacturing facility and capabilities ), RDY -12.4% (receipt of a warning letter from the FDA), SNY -6.2% (sets long-term growth objectives at IR seminar; targets sales CAGR between +3-4% 2015-2020), BSTC -5.8% (BioSpecifics Tech reports that Endo International (ENDP) has exercised its early opt-in for CCH to include two new potential indications; lateral thigh fat and plantar fibromatosis), BHP -5.1% (following Samarco incident), EYES -3.7% (disclosed that Medicare payment rate for the Argus II Retinal Prosthesis System may be cut), TCPI -3.2% (announced delay in reporting third quarter 2015 financial results; due to a pending Audit Committee investigation; offers prelim Q3 results), VALE -3% (BHP Billiton and Vale (VALE) are 50 per cent shareholders in the Brazilian company and joint venture, Samarco), SERV -2.3% (announces the sale of ~28.96 mln shares of its common stock by a selling stockholder associated with Clayton, Dubilier & Rice and StepStone Group)
Analyst comments: CREE -5.6% (downgraded to Sell from Neutral at Goldman), SEAS -2.2% (downgraded to Neutral from Buy at Goldman), CMG -1.6% (downgraded to Neutral at Robert W. Baird
)
In reaction to strong earnings/guidance: MW -38.3%, TNGO -20.2%, GLUU -19.9%, SWIR -18.9%, CMLS -18.6%, CPST -16.3%, PXLW -14%, SKUL -13.4%, GDOT -11.3%, AAOI -9.8%, TRIP -9.6%, ALDR -7.6%, MFLX -7.4%, MMI -7.1%, NEWR -5.6%, CLVS -4.9%, SNTA -4.4%, FICO -4%, GEVO -3.6%, PRAA -3.5%, ACET -3.5%, AMTG -3.4%, MHK -3.3%, TCPI -3.2%, DIOD -3.1%, CLDX -3%, GST -2.4%,SYN -2.1%, BIOC -2.1%, VIP -2%, HAIN -1.9%, KHC -1.9%, INSM -1.8%, HNSN -1.6%, EFC -1.4%, AKAO -1.3%, BBG -1.1%, EOG -1.1%, ABUS -1%
M&A news: NSR -2.3% (agrees to acquire MarketShare Partners for $450 mln ), AZN -1% (acquired ZSPH of ~2.7 bln)
Other news: KBIO -51.8% ( to reduce workforce by ~61%, will explore strategic alternative), CGIX -17.6% (prices 3 mln shares of its common stock at $4.00/share; gross proceeds expected to be $12.0 mln), MRNS -15.9% (to offer and sell shares of its common stock in an underwritten public offering), MCZ -13.6% (entered into $25 mln ATM common stock offering agreement with Ascendiant Capital, reported Q3 results), XOMA-12.6% (Agenus enters into three transactions, including agreement to acquire XOMA's (XOMA) antibody pilot plant manufacturing facility and capabilities ), RDY -12.4% (receipt of a warning letter from the FDA), SNY -6.2% (sets long-term growth objectives at IR seminar; targets sales CAGR between +3-4% 2015-2020), BSTC -5.8% (BioSpecifics Tech reports that Endo International (ENDP) has exercised its early opt-in for CCH to include two new potential indications; lateral thigh fat and plantar fibromatosis), BHP -5.1% (following Samarco incident), EYES -3.7% (disclosed that Medicare payment rate for the Argus II Retinal Prosthesis System may be cut), TCPI -3.2% (announced delay in reporting third quarter 2015 financial results; due to a pending Audit Committee investigation; offers prelim Q3 results), VALE -3% (BHP Billiton and Vale (VALE) are 50 per cent shareholders in the Brazilian company and joint venture, Samarco), SERV -2.3% (announces the sale of ~28.96 mln shares of its common stock by a selling stockholder associated with Clayton, Dubilier & Rice and StepStone Group)
Analyst comments: CREE -5.6% (downgraded to Sell from Neutral at Goldman), SEAS -2.2% (downgraded to Neutral from Buy at Goldman), CMG -1.6% (downgraded to Neutral at Robert W. Baird
)
Gapping up
In reaction to earnings/guidance: ECOM +19.4%, WTW +18.7%, STMP +18.5%, VRNS +17.7%, FNGN +17.6%, SREV +16.9%, UBNT +16.8%, LPTH +16.7%, DATA +16.2%, QRVO +15.4%, RATE +15%, YUME +12.9%, AXGN +12.5%, MITK +10.5%, TRUE +10.4%, AIRM +10.1%, KTOS +9.8%, NVDA +9.7%, SXE +9.7%, BLDR +9.7%, DWA +9.6%, RPTP +9.4%, PODD +8.8%, MNST +8.3%, OLED +7.7%, TTI+7.4%, AGTC +6.9%, SHAK +6.8%, OCLS +6.6%, BCEI +6.6%, ICUI +5.7%, WING +5.5%, PCTY +5.5%, ELON +4.8%, AEZS +4.6%, MSCC +4.5%, VTL +4.5%, CYTX +4.4%, AEE +4.4%, SWKS +4.3%, ANET +3.7%, TTWO +3.6%, GSVC +3.4%, ABTL +3.2%, ABCO +3.2%, GERN +3%, ETM +2.7%, ERII +2.4%, CBI +2.1%, JOE +2%, CYBR +1.8%, AL +1.6%, NKTR +1.5%, SEMG +1.4%, BETR +1.3%, PBA+1.3%, ACHN +1.2%, CSOD +1.1%, MDVN +1%, RBA +1%
M&A news: ZSPH +40.8% (to be acquired by AstraZeneca (AZN) for $90/share, or ~$2.7 bln), LXRX +30% (Lexicon Pharma and Sanofi (SNY) set up collaboration on sotagliflozin), YOKU +10.1% (to be acquired by Alibaba Group Holding Limited (BABA) for $27.60/ADS share in cash), RLYP +6.7% (ZSPH peer)
Other news: PVCT +28.7% (reported results that reveal a clinically relevant immunoadjuvant pathway triggered by tumor cell death secondary to ablation with RB), MHR +23.3% (reported refinancing of its existing senior secured revolving credit facility), SHAK +7.1% (still checking), AGEN +4.4% (Agenus enters into three transactions, including agreement to acquire XOMA's (XOMA) antibody pilot plant manufacturing facility and capabilities ), CLLS +4.2% (FT discusses benefits and possible success of cancer genetic therapy), BLUE +4.1% (slightly rebounding following recent weakness), VRX +3.2% (Pershing Square Holdings releases complete communication sent from Bill Ackman to Valeant Pharm'a (VRX) CEO), MNKD +2.9% (still checking), MOMO +2.7% (still checking), OXGN +2.4% (reports initial data from a Phase 1b/2 study of CA4P in combination with Votrient; results are 'encouraging and we expect to move into the phase 2 portion of the study in early 2016' ), .
Analyst comments: WM +0.9% (initiated with a Outperform at Credit Suisse)
.
In reaction to earnings/guidance: ECOM +19.4%, WTW +18.7%, STMP +18.5%, VRNS +17.7%, FNGN +17.6%, SREV +16.9%, UBNT +16.8%, LPTH +16.7%, DATA +16.2%, QRVO +15.4%, RATE +15%, YUME +12.9%, AXGN +12.5%, MITK +10.5%, TRUE +10.4%, AIRM +10.1%, KTOS +9.8%, NVDA +9.7%, SXE +9.7%, BLDR +9.7%, DWA +9.6%, RPTP +9.4%, PODD +8.8%, MNST +8.3%, OLED +7.7%, TTI+7.4%, AGTC +6.9%, SHAK +6.8%, OCLS +6.6%, BCEI +6.6%, ICUI +5.7%, WING +5.5%, PCTY +5.5%, ELON +4.8%, AEZS +4.6%, MSCC +4.5%, VTL +4.5%, CYTX +4.4%, AEE +4.4%, SWKS +4.3%, ANET +3.7%, TTWO +3.6%, GSVC +3.4%, ABTL +3.2%, ABCO +3.2%, GERN +3%, ETM +2.7%, ERII +2.4%, CBI +2.1%, JOE +2%, CYBR +1.8%, AL +1.6%, NKTR +1.5%, SEMG +1.4%, BETR +1.3%, PBA+1.3%, ACHN +1.2%, CSOD +1.1%, MDVN +1%, RBA +1%
M&A news: ZSPH +40.8% (to be acquired by AstraZeneca (AZN) for $90/share, or ~$2.7 bln), LXRX +30% (Lexicon Pharma and Sanofi (SNY) set up collaboration on sotagliflozin), YOKU +10.1% (to be acquired by Alibaba Group Holding Limited (BABA) for $27.60/ADS share in cash), RLYP +6.7% (ZSPH peer)
Other news: PVCT +28.7% (reported results that reveal a clinically relevant immunoadjuvant pathway triggered by tumor cell death secondary to ablation with RB), MHR +23.3% (reported refinancing of its existing senior secured revolving credit facility), SHAK +7.1% (still checking), AGEN +4.4% (Agenus enters into three transactions, including agreement to acquire XOMA's (XOMA) antibody pilot plant manufacturing facility and capabilities ), CLLS +4.2% (FT discusses benefits and possible success of cancer genetic therapy), BLUE +4.1% (slightly rebounding following recent weakness), VRX +3.2% (Pershing Square Holdings releases complete communication sent from Bill Ackman to Valeant Pharm'a (VRX) CEO), MNKD +2.9% (still checking), MOMO +2.7% (still checking), OXGN +2.4% (reports initial data from a Phase 1b/2 study of CA4P in combination with Votrient; results are 'encouraging and we expect to move into the phase 2 portion of the study in early 2016' ), .
Analyst comments: WM +0.9% (initiated with a Outperform at Credit Suisse)
.
*FED RATE INCREASE ODDS JUMP TO 74% FOR DECEMBER, FUTURES SIGNAL
Early premarket gappers
Gapping up: ZSPH +40.7%, LPTH +30.7%, PVCT +28.7%, LXRX +26.6%, ECOM +19.4%, WTW +18.1%, DATA +15.3%, RATE +15%, RLYP +14.7%, MHR +13.3%, YOKU +10.2%, NVDA +9.7%, SHAK +6.3%, MNKD +6.1%, VRX +5.8%, CLLS +4.9%, BLUE +4.5%, AGEN +4.4%, ERII +3.8%, MOMO +3.8%, IHG +3.7%, STRP +2.3%, ENOC +1.8%, YY +1.4%, QCOM +1.2%
Gapping down: KBIO -51.8%, ICON -51.7%, MW -35.7%, GLUU -20.8%, CGIX -15.6%, RDY -15%, MRNS -13.3%, MCZ -6.8%, BBL -6%, BSTC -5.8%, SNY -5.8%, BHP -5.5%, EYES -3.7%, TCPI -3.2%, TTM -3.1%, VALE -2.7%, NSR -2.3%, SERV -2.2%, SERV -2.2%, TS -2%, AZN -1.9%, SYT -1.9%, DEO -1.3%, SUNE -1.1%, CCL -1%
Gapping down: KBIO -51.8%, ICON -51.7%, MW -35.7%, GLUU -20.8%, CGIX -15.6%, RDY -15%, MRNS -13.3%, MCZ -6.8%, BBL -6%, BSTC -5.8%, SNY -5.8%, BHP -5.5%, EYES -3.7%, TCPI -3.2%, TTM -3.1%, VALE -2.7%, NSR -2.3%, SERV -2.2%, SERV -2.2%, TS -2%, AZN -1.9%, SYT -1.9%, DEO -1.3%, SUNE -1.1%, CCL -1%