Morning research

Gapping down

In reaction to disappointing earnings/guidance:

• VRAY -6.6%,TEO -0.5%

Other news:

• DCIX -2.6% (continued volatility in pre-mkt)
• ALNY -2% (commences $675 mln common stock offering)
• MYL -1.3% (may be in sympathy with TEVA dg)

Analyst comments:

• TEVA -2.4% (downgraded to Underweight from Neutral at JP Morgan)
• RIO -1.8% (downgraded to Neutral from Overweight at JP Morgan)
• EXAS -1.4% (downgraded to Neutral from Outperform at Robert W. Baird)
• GDOT -1% (downgraded to Neutral from Buy at Citigroup)
• CAA -1% (downgraded to Neutral from Buy at Mizuho)

Gapping up 

In reaction to strong earnings/guidance:

• DFFN +16.8%,QD +8.9%,KMDA +4.4%,JP +3.3%,TSN +3%, JD+2.7%, RDHL+2.6%, WUBA+2.4%, PVG+2.3%, FCSC+2.3%, IDXG+1.6%, CUR+0.9%

M&A news:

• MAT +22.6% (Mattel: Hasbro (HAS) is said to have approached Mattel about a possible takeover, according to the WSJ)
• GGP +4.5% (Brookfield Property Partners confirms proposal to acquire remaining GGP shares for $23.00/share)

Other news:

• ARGS +78.3% (reports Phase 3 ADAPT Trial data; demonstrates increase from baseline in antigen-specific memory T-Cells)
• EKSO +28.1% (continued strength)
• NKTR +25.2% (reports first data for NKTR-214 in combination with OPDIVO)
• MBVX +13.8% (to present positive development study results enabling manufacturing of two radionuclide products for Phase 1 clinical trails)
• TOPS +6.9% (still checking)
• PLX +4.3% (announces that the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMA) issued a positive opinion on the Orphan Medicinal Product Application for pegunigalsidase alfa)
• CREG +2.6% (continued volatility in pre-mkt)
• GE +0.8% (discloses plan to reduce quarterly dividend to $0.12/share from $0.24/share; does not plan to announce breakup or restructuring at investor meeting today, according to WSJ)
• BA +0.7% (Boeing and Emirates Commit to 40 787-10 Dreamliners; Boeing and Azerbaijan Airlines announce deal for 787 Dreamliners, Freighters, 787 landing gear exchange program)