Danaos assumed with a Hold at Jefferies. Jefferies analyst Randy Giveans assumed coverage of Danaos with a Hold rating and $3 price target. The analyst assumed coverage of 23 energy maritime shipping names saying the industry is "primed for significant improvement." For the first time in 10 years, the analyst expects capacity shortages with demand growth to outpace supply growth in every shipping sector in 2018.
UP AFTER EARNINGS: Danaos (DAC), up 14.8%... Analog Devices (ADI), up 5.5%. ALSO HIGHER: Mallinckrodt (MNK), down 2.4% after Reuters reported that the company is exploring a sale of its generic drug unit... Array BioPharma (ARRY), up 3.2% after entering a partnership with Ono Pharmaceutical. DOWN AFTER EARNINGS: Michael Kors (KORS), down 8.5%... Vera Bradley (VRA), down 2.4%... Golden Ocean (GOGL), down 5.1%. ALSO LOWER: Akari (AKRX), down9% after disclosing resignation of Chief Executive Officer... Gemphire Therapeutics (GEMP), down 12.8% following the resignation of CEO Mina Sooch... Apollo Commercial (ARI), down 3.9% after its 12M share Spot Secondary priced at $18.25.
UP AFTER EARNINGS: Danaos (DAC), up 14.8%... Quanex (NX), up 5.2%... Perrigo (PRGO), up 0.3%. ALSO HIGHER: Exact Sciences (EXAS), up 6.6% after UnitedHealth (UNH) said it will begin covering virtual colonoscopy tests, such as Exact's Cologuard... Hertz Global (HTZ), up 2.6% after it said it is planning to offer a $1B aggregate principal amount of senior second priority secured notes in a private offering... Mallinckrodt (MNK), down 1.7% after Reuters reported that the company is exploring a sale of its generic drug unit... Intuitive Surgical (ISRG), up 0.5% after it received FDA clearance for its da Vinci X Surgical System. LOWER: Apollo Commercial (ARI), down 3.2% after it filed to sell 12M shares of common stock... James River Group (JRVR), down 1.3% after it filed to sell 4.25M shares of common stock for holders... Extended Stay America (STAY), down 0.9% after it filed to sell 25M paired shares for holders.