• European Markets Up : DAX UNCH, CAC +0.1%, FTSE +0.2%
• Asian Markets Close: Nikkei UNCH, Hang Seng -0.6%, Shanghai -1.0%
• S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -23.80
   

:: EARLY FOCUS LIST::

LONG: AVP, BLDP, BTX, CASI, IMMR, MATX, MOMO, NBEV, PTCT, WRK, ZYNE,

ETF's: DGAZ,JDST,DWT,UVXY

SHORT: AAOI, CYOU/SOHU, FNSR, WB
 

:: Gapping up ::

BLDP +11.6%, DPW +8.6%, CASI +4.1% BTX +3.8%
  

• SRNE Sorrento Therapeutics and Lee's Pharm announce that the Chinese authorities have approved China Oncology Focus Limited to proceed with the clinical trials for ZKAB001, an anti-PD-L1 monoclonal antibody exclusively licensed to COF for Greater China territories

• APPS EXPLODES to 2.46 last 2.20

  Digital Turbine, Inc. (APPS), announced a global agreement with Qualcomm (QCOM). Under the multi-year agreement,
  Qualcomm Technologies will promote Digital Turbine's Mobile Delivery Platform as one of Qualcomm Technologies'
  recommended advertising and monetization solutions for global OEMs.

• PTCT +$12 pre mkt ,presents preliminary data from FIREFISH trial in Type 1 SMA

  RG7916 has been safe and well tolerated at all doses and there have been no drug-related safety findings leading to
  withdrawal. In addition, data on the ability to swallow and requirements for tracheostomy or permanent ventilation,
  together with overall survival were also presented.

• Stifel initiates PTGX with a Buy and price target of $32. Three clinical programs include two oral peptide products targeting the multibillion-dollar IBD market (PTG-100 and PTG-200), and one injectable peptide targeting rare iron overload disorders (PTG-300). We believe near-term interim P2b results (go/no go decision based on DMC recommendation) for proprietary PTG-100 in moderate-to-severe ulcerative colitis (UC) will drive shares higher (if positive), and we see a relatively low hurdle for success. They expect the Street will view a go-forward DMC recommendation as highly positive, and for shares to react accordingly. With a sub-$400M market cap, three unique pipeline assets in the clinic targeting potential $1B+ market opportunities, and cash through FY19, Protagonist appears poised for upside.

• RNN Rexahn Pharmaceuticals: USPTO has issued NOA for patent covering the use of RX-5902, also known as Supinoxin for the treatment of cancers including triple negative breast cancer either as monotherapy or in combination with other anti-tumor agents such as cytotoxic agents or immune checkpoint inhibitors.
      

• WB Weibo down 4% premarket after Chinese regulators reportedly shut down some of its services temporarily after the company failed to censor content

• MATX Matson upgraded to Buy from Neutral at Seaport Global Securities

  MATX Matson target raised to $38 at Stifel

• EXAS EXACT Sciences initiated with a Neutral at Goldman; tgt $51

• ITUS ITUS will present 'positive' data that augments data presented back in December 2016 from its early cancer detection technology on January 26 at the ASCO-SITC

  ITUS 6.57 +52c

• FSNN Fusion Telecom Int'l to offer and sell approximately $30 mln of shares of its common stock in an underwritten registered public offering

• ZYNE Zynerba Pharma initiated with a Buy at Ladenburg Thalmann; tgt $25.50 (12.07 )

• BABA Alibaba target raised to $230 at Stifel ahead of earnings on Thursday

• MOMO Momo upgraded to Overweight from Neutral at JP Morgan

• FNSR Finisar downgraded to Neutral from Overweight at Piper Jaffray

• DPW DPW Holdings anticipates launching a network of cryptocurrency ATMs (“ATMs”). The ATMs will allow for the purchase and sale of cryptocurrencies along with cash withdraws,

• CRR Carbo Ceramics downgraded to In-line from Outperform at Evercore ISI

• AAOI Applied Optoelectronics downgraded to Neutral from Overweight at Piper Jaffray

• RHHBY Roche Hldg granted FDA Breakthrough Therapy Designation for balovaptan in autism spectrum disorder

• NBEV New Age Beverages has formed a partnership with Simple Again and Performance Food Centers

• KS KapStone Paper and Packaging to be acquired by Westrock Co. (WRK) for $35/share; expected to be immediately accretive to earnings

• IMMR Immersion entered into settlement and license agreements with Apple (AAPL), the terms of which are confidential
  IMMR gapping 3.35 to 9.70

• AAPL Apple to lower iPhone X production volume by 50% in Q1

• ARDM -33%,Aradigm receives complete response letter for Linhaliq NDA from the FDA The complete response letter states that the FDA has determined that it cannot approve the NDA in its present form

• AVP +20c pre mkt ,at 2.62 Avon Products group of shareholders confirm sending letter to the Board calling on the company to explore all strategic alternatives

• DPS Dr Pepper Snapple and Keurig Green Mountain to merge -- DPS shareholders will receive $103.75/share in a special cash dividend and retain 13% of the combined company

• ABLX Ablynx trading 16% higher in pre-markets after Sanofi announced it will acquire Ablynx for €3.9 bln

• BLDP Ballard Power sees FY17 revs above consensus; provides comments on short-seller report

  issues upside guidance for FY17 (Dec), sees FY17 (Dec) revs of ~$120 mln vs.
  $112.57 mln Capital IQ Consensus Estimate.
  Co sees Adjusted EBITDA, and year-ending cash on hand of ~$60 million.
  BLDP 3.42 +41c

• CYOU Changyou.com misses by $0.20, misses on revs; guides Q1 EPS below estimate,
  CYOU -2.50 pre mkt, SOHU -3.20

• SOHU Sohu.com misses by $0.29, misses on revs

• STX Seagate Tech beats by $0.13, beats on revs

• NTR Nutrien to acquire Agrichem; terms not disclosed

• Lockheed Martin (LMT 359.10, +14.20): +4.1% after reporting better-than-expected earnings and revenues and raising its profit guidance.

• Dr Pepper Snapple (DPS 130.51, +34.86): +36.5% after agreeing to merge with Keurig Green Mountain. DPS shareholders will receive $103.75 per share in a special cash dividend and will retain 13% of the combined company.

  

Disclaimer: All stock recommendations and comments are the opinion of writer. Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal ownership, may influence or factor into a stock analysis or opinion.