Market Weekly: July 5 – 11 2020


Gapping up
In reaction to strong earnings/guidance:

VERI +10.4% (guides Q2 revs above consensus),
HELE +7.7%,
SAP +6.2% (provides Q2 update, reaffirms 2020 outlook),
PTC +4.8% (guides JunQ revs above consensus),
UMC +2.9% (June revs), COST +1.8% (June comps)

Other news:

APDN +17.5% (forms forms clinical testing subsidiary to maximize utility of FDA EUA-approved Linea COVID-19 assay kit)
OPTN +16.7% (signs co-promotion agreement with kaléo for XHANCE)
OSMT +5.3% (receives FDA approval for Upneeq)
CCL +4.4% (Carnival’s AIDA Cruises to restart sailing vacations in August; Bookings for the first short cruises start today)
CRNX +3.7% (receives orphan drug designation from FDA for Paltusotine for treatment of Acromegaly)
NKLA +3.5% (Worthington (WOR) disclosed the sale of 5 mln shares of Nikola common stock for ~$238 mln in open market transactions from July 6 to July 7, 2020)
ERI +2.6% (confirms receipt of approval from the Nevada Gaming Control Board)
PING +1.9% (upsizes offering and prices 8,977,968 shares of its common stock by certain selling shareholders at $32.00 per share)
NBL +1.9% (provides second quarter update)
SAR +1.7% (reinstates quarterly dividend)
HRZN +1.3% (provides Q2 portfolio update)
ANAB +0.9% (receives orphan drug designation for imsidolimab)