Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER -
- Boeing (BA) up 1.5% after announcing that it has terminated its master transaction agreement with Embraer (ERJ), under which the two companies sought to establish a new level of strategic partnership. Embraer shares trading in New York are down 13% in pre-market trading following the news
- Axsome Therapeutics (AXSM) up 44% after reporting that AXS-05 met the primary endpoint in the ADVANCE-1 Phase 2/3 trial and improved agitation in patients with Alzheimer's disease as compared to placebo
- Fiat Chrysler (FCAU) up 3% after Reuters reports the company opened its Sevel plant in central Italy, resuming production at a rate of 70%-80%
- Harpoon Therapeutics (HARP) up 18% after announcing that the first patient has been dosed with HPN217 in a Phase 1/2 clinical trial, thus triggering a $50M milestone payment
UP AFTER EARNINGS -
- Check Point (CHKP) up 3%
- Lexicon (LXRX) up 12%
- Vista Outdoor (VSTO) up 4%
LOWER -
- Diamond Offshore (DO) and Loews (L) down 61% and 1%, respectively, after disclosing that Diamond Offshore, which Loews owns 53% of, and select subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code
- General Motors (GM) down 2% after the company suspended the quarterly cash dividend on its common stock, suspended its share repurchase program and announced "other significant austerity measures" to preserve near-term available cash
- Wayfair (W) down 2% after Stifel analyst Scott Devitt downgraded shares to Hold from Buy with a $115 price target, noting that the price of the stock has exceeded his 12-month target
- Clovis (CLVS) down 3% after SVB Leerink analyst Andrew Berens downgraded the stock to Underperform from Market Perform with a price target of $5, down from $10
DOWN AFTER EARNINGS -
- CNX Midstream Partners (CNXM) down 31%