As previously reported, Leerink analyst Michael Schmidt downgraded Array BioPharma to Market Perform from Outperform as he sees limited near-term upside drivers while the company's pipeline is now "fairly valued" following the recent run. Further, the analyst notes that key events, such as results of its COLUMBUS and NEMO Phase 3 trials are now in the rear-view mirror while value-driving catalysts appear limited over the next 12 months. Nonetheless, Schmidt raised his price target on the shares based on adjustments to his binimetinib/encorafenib forecast in melanoma and inclusion of estimates for selumetinib royalties in Neurofibromatosis.

Wells Fargo notes that a group of seven domestic solar product makers, including First Solar (FSLR), filed a petition to levy anti-dumping and countervailing duties on solar imports from Cambodia, Malaysia, Thailand and Vietnam, looking for duties ranging from 70.4% to 271.5%. The firm, which included the "important reminder" that "this is just a petition," says the uncertainty created by the petition is "incrementally positive" for First Solar and negative for Canadian Solar (CSIQ), Array Technologies (ARRY) and Nextracker (NXT).