Morning research

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Gapping down

In reaction to disappointing earnings/guidance:

ZYNE -17.4%,MRAM -6.4%,SMI -6.4%,NETS -4.6%,HPJ -4.5%,DKS -4.5%,SWCH -4.4%,CLNT -2.5%,PBR -2%,CXRX -1.8%

Other news:

MYO -6.4% (Myomo announced the filing of registration statement relating to a proposed underwritten follow-on public offering of shares of its common stock and accompanying warrants to purchase common stock)
LOXO -6.3% (enters into global collaboration with Bayer (BAYRY) to develop and commercialize larotrectinib and LOXO-195)
TPRE -6% (commences underwritten secondary public offering of an aggregate of 15,000,000 of the common shares (representing approximately 14.0% of its outstanding shares) by KIA TP Holdings, L.P. and KEP TP Holdings, L.P. )
PRQR -5% (rices offering of 4,969,805 ordinary shares at $3.25/share)
ANTH -4.2% (filed for 28,613,474 share common stock offering by the selling stockholders )
SAGE -4.1% (commences $300 mln common stock offering)
RPD -1.9% (indicated lower on block trade pricing)
QUOT -1.4% (commences $175 mln private placement of convertible senior notes due 2022)
GDI -1.4% (commences 22 mln common stock offering by selling stockholders KKR)
WTW -1% (intends to offer $500 mln in aggregate principal amount of senior notes due 2025 in a private offering)

Analyst comments:

PHM -2% (downgraded to Neutral from Buy at Buckingham Research)
JD -1.5% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
TFX -1.2% (downgraded to Hold from Buy at Deutsche Bank)
STO -1.1% (downgraded to Market Perform from Outperform at BMO Capital Markets)
HLT -1% (removed from Conviction Buy List at Goldman)

Gapping up

In reaction to strong earnings/guidance:

LUNA +14.6%,AAP +13.6%,MARK+10.8%, KLIC+10.6%, TEUM+8.9%, DQ+8.1%, EXXI+7.8%, DAVE+7.7%, OREX+7.4%, IGT+7.3%, FENG+6.5%, WOW+6%, BGNE+5.8%, YTRA+5.6%, SSYS+5.4%, CALI+4.8%, FSNN+3.3%, NMM+2.8%, CASI+2.4%, PQG+1.5%, VBLT+1.3%, DHT+0.8%

M&A news:

BWLD +25.7% (WSJ reporting that Roark Capital has made a bid to buy the co for more than $150/share)

Other news:

ITUS +32.8% (has 'executed an exclusive worldwide license agreement with The Wistar Institute for a CAR-T technology aimed initially at treating ovarian cancer, and eventually additional solid tumors')
TCON +12.5% (announces that positive results from a Phase 1 clinical trial of TRC102 and Fludara in patients with advanced hematologic malignancies were published in the journal Oncotarget )
GLBS +11.7% (announced that an investor holding warrants originally issued pursuant to the Company's February 2017 private placement has elected to exercise its right to purchase 700,000 of the Company's common shares at a price of $1.60 per share)
AMRN +6% (Amarin's Vascepa (Icosapent Ethyl) showed reductions in potentially Atherogenic Lipid and Inflammatory Markers in Statin Treated Patients with persistent high triglycerides and chronic kidney disease)
ABUS +4.2% (ticking higher after confirming LNP licensee ALNY receives accelerated assessment of patisiran from European Medicines Agency)
BLDP +3.9% (signs $9 mln agreement with Siemens (SIEGY) to fuel cell engine to power cutting-edge Mireo commuter train)
DLPH +3.3% (Board of Directors approved the record date, distribution date and distribution ratio for the spin-off of its Powertrain Systems segment into a new publicly traded company, Delphi Technologies PLC)
EGO +2.6% (provides an update on the Co's exploration activities completed to date in 2017)

Analyst comments:

ADMA +7.7% (upgraded to Outperform from Mkt Perform at Raymond James)
TGTX +6.1% (assumed with a Buy at H.C. Wainwright; tgt $33 (closed at 8.25 on Monday))
SHPG +1.7% (upgraded to Buy from Hold at Liberum)
DB +1.3% (upgraded to Buy from Hold at HSBC Securities)
MMI +1.1% (upgraded to Buy from Neutral at Citigroup)
ZBH +0.9% (upgraded to Buy from Hold at Deutsche Bank)
KO +0.5% (upgraded to Outperform from Market Perform at Wells Fargo)

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