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Stocks Gapping Up 2017-04-21
ATRS Antares Pharma (ATRS) Raymond James initiates coverage with a Strong Buy rating.
AAOI Applied Optoelectronics (AAOI) will replace Adeptus Health (ADPT) in the S&P SmallCap 600, effective prior to the open on April 25, S&P Dow Jones Indices said late Thursday. Adeptus has filed a voluntary petition for relief under chapter 11 of the bankruptcy code to pursue a plan of reorganization and has been halted by the NYSE effective before the market open today.
AUPH Aurinia Pharmaceuticals (AUPH) reported pre-market Friday additional 48-week results from its phase 2b study of the treatment of lupus nephritis, an auto-immune disease involving the kidneys, with the drug voclosporin. Aurinia said the trial met its complete and partial remission endpoints at 48 weeks, and that all pre-specified secondary endpoints that have been analyzed to date were also met at 48 weeks. The company said that 100% of "patients in complete remission at week 24 stay in complete remission at week 48 while on low-dose voclosporin."
BOXC Brookfield Canada Office Properties (BOXC) Brookfield Property Partners said Friday that it has entered into a definitive agreement to effectively acquire the 17% equity interest, around 15.9 million units, in Brookfield Canada Office Properties (BOXC) that it or its subsidiaries do not own for $32.50 cash per unit. The going private transaction is to be effected through a definitive redemption agreement pursuant to which Brookfield Canada will redeem all of its issued and outstanding units not already owned by Brookfield Property and its subsidiaries. Brookfield Canada's unitholders will be entitled to receive monthly distributions through to closing at the current rate of $0.1092 per unit as declared by its board of trustees in the ordinary course.
CASC Cascade Corporation (CASC) BTIG initiated Cascade Corporation coverage with Buy and target $13
CEMP Cempra (CEMP) will present eight abstracts at an upcoming conference in Vienna. The research will highlight solithromycin and the need for new treatments for community-acquired bacterial pneumonia, the company said. The abstracts will be presented at the 27th European Congress of Clinical Microbiology and Infectious Diseases set fro April 22-25. "As we continue to analyze data from our solithromycin trials, a pattern of activity across pathogens, geographies and patient types continues to emerge," Chief Medical Officer David Oldach said. "Considering the documented risks associated with fluoroquinolone treatment, and the correlation between treatment failure and mortality, patients and physicians would benefit greatly from new safe and effective antibiotic treatment options for CABP."
STV China Digital TV Holding Co. (STV) announced that its Board of Directors declared a special cash dividend of US$1.50 per ordinary share. Each of the Company's American depositary shares represents one ordinary share. Shareholders of record as of the close of business on May 31, 2017 , U.S. Eastern Daylight Time, will be eligible to receive the dividend. As the fund for the dividend will come from the sale proceeds of its interests in Beijing Super TV Co., Ltd , therefore, the dividend can only be paid after the completion of all necessary administrative procedures for foreign currency exchange from Renminbi to US dollars. The Company will announce the payment date as soon as the completion of currency conversion.
CNAT Conatus Pharmaceuticals Inc. (CNAT) announced that two posters co-authored by Conatus employees are being presented today at The International Liver Congress™ 2017, the Annual Meeting of the European Association for the Study of the Liver (EASL) in Amsterdam, The Netherlands, April 19-23, 2017. The posters are the result of a collaborative data analysis study with senior author W. Ray Kim, M.D., Professor of Medicine, and lead author Ajitha Mannalithara, Ph.D., Engineering Research Associate, both of the Division of Gastroenterology and Hepatology at Stanford University Medical Center.
DSX Diana Shipping (DSX) said late Thursday that it has priced a public offering of 17.5 million common shares at $4 apiece, for gross proceeds of $70 million. Underwriters were granted a 30-day option to buy up to an additional 2.6 million shares. Proceeds will be used for the acquisition costs of additional dry bulk vessels and for general corporate purposes.
ETFC E*TRADE Financial (ETFC) reported Q1 EPS of $0.48, $0.09 better than the analyst estimate of $0.39. Revenue for the quarter came in at $553 million versus the consensus estimate of $532.54 million.
HA Hawaiian Holdings (HA) reported Q1 EPS of $1.04, $0.19 better than the analyst estimate of $0.85. Revenue for the quarter came in at $614.19 million versus the consensus estimate of $610.72 million.
HON Honeywell International (HON) reported better-than-expected earnings and revenue and as it raised the lower end of its FY17 earnings guidance range in line with Street estimates. The technology and manufacturing company posted adjusted earnings of $1.66 per share, compared with the prior-year period's $1.50 per share. Analysts polled by Capital IQ were expecting EPS of $1.62. Revenue was $9.49 billion, down from $9.52 billion in the same quarter last year. The Street view was for revenue of $9.33 billion. The company now expects fiscal 2017 EPS of $6.90 - $7.10 versus the Street view of $7.03. The prior guidance range was for $6.85 - $7.10 EPS.
HYGS Hydrogenics (HYGS) said Friday that it has been selected to be the technology provider for the SunLine Transit Agency, covering heavy duty fuel cell power modules and PEM HyLyzer electrolysis equipment, to enable zero-emission public transit. Funded by a grant award from California Climate Investments and the California Air Resources Board, Hydrogenics will supply SunLine with five CelerityPlus power modules to be integrated into New Flyer fuel cell buses. The company will also upgrade SunLine's heavy duty fueling station with a new 1.5 megawatt PEM electrolyzer for onsite hydrogen fuel generation, making it the largest renewable hydrogen fueling facility in the United States. The station will produce up to 400 kilograms of hydrogen daily and be capable of fueling 15 buses per day.
NMM Navios Maritime Partners L.P. (NMM) announced today that it has agreed to acquire the entire container fleet (the Fleet) of Rickmers Maritime (the Trust) for about $113.0 million.
OCN Ocwen Financial (OCN) bounces after selling-off 54% intra-day on CFPB lawsuit and NC cease-and-desist order.
PFPT Proofpoint (PFPT) reported Q1 EPS of $0.12, $0.03 better than the analyst estimate of $0.09. Revenue for the quarter came in at $113.3 million versus the consensus estimate of $110.58 million. GUIDANCE: Proofpoint sees Q2 2017 EPS of $0.11-$0.13, versus the consensus of $0.11.
RWC RELM Wireless (RWC) announced that Kyle Cerminara has been appointed Chairman of the Board to replace Tim O'Neil , who has resigned from the Board of Directors to pursue other opportunities. Kyle Cerminara , Chairman of the Board and a representative of RELM Wireless' largest shareholder Fundamental Global Investors commented, "We would like to thank Tim O'Neil for his eleven years of service on the Board of Directors of RELM Wireless . The company has benefited from Tim's wealth of knowledge in the wireless communications industry and we are confident that Tim will remain a friend of the company." Tim O'Neil commented, "It has been a pleasure representing the investors of RELM Wireless . I would like to wish the new President, Tim Vitou and all of his staff the best."
SQNS Sequans Communications (SQNS) announced that its Colibri LTE chip provides the LTE connectivity for the new Verizon Ellipsis(TM) Jetpack(R), an ultra compact mobile hotspot launching today on Verizon's network. "The new Ellipsis Jetpack is a powerful and compact mobile hotspot and we are very proud to provide the LTE connectivity for this extremely useful consumer device," said Hugues Waldburger , head of Sequans' Broadband business unit. "It gives users freedom to access the internet instantly with the full power of Verizon's always on and everywhere available LTE network."
SNE Sony (SNE) raised its fiscal 2017 forecast for net income attributable to shareholders to JPY73 billion ($669 million) from the JPY26 billion estimate released in Feb. Revenues are still expected to be JPY7.60 trillion. "The forecast for consolidated operating income has been revised upward due to expected improvement, compared with the February forecast, in all segments other than the components segment, which is expected to deteriorate compared with the February forecast," Sony said. "The primary reasons for the upward revision in the segments that are anticipated to improve are expected decreases in amortization of deferred insurance acquisition costs and other costs in the financial services."
SWK Stanley Black & Decker (SWK) reported a 10c beat and raises its full year outlook as cost cuts boosted its bottom line in 1Q. The tool maker's adjusted gross margin jumped to 38.2% to from 36.6% last year. During the quarter SWK shed slow-growing, margin-eating businesses in favor for new brands like Sears' (SHLD) Craftsman line. Moving forward, SWK expects cost cuts to add 10 cents to its FY17 earnings. Over all, SWK now sees adjusted EPS of $7.08- $7.28 up from $6.98 To $7.18 .
VBLT VBL Therapeutics (VBLT) announced that the Independent Data Safety Monitoring Committee (DSMC) met to conduct its second safety review of the Phase 3 GLOBE Study investigating ofranergene obadenovec (VB-111) in recurrent glioblastoma (rGBM). The DSMC is an independent multidisciplinary group that conducts detailed reviews of un-blinded study data, discusses potential safety concerns and provides recommendations regarding trial continuation. The committee reviewed the GLOBE safety data collected through a cutoff date in March 2017 and unanimously recommended that the study continue as planned.
V Visa (V) reported Q2 EPS of $0.86, $0.07 better than the analyst estimate of $0.79. Revenue for the quarter came in at $4.5 billion versus the consensus estimate of $4.31 billion. Visa's board authorized a new $5.0 billion class A common stock share repurchase program.
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