Unusual 11 Mid-Day Movers 8/30: (RIGL) (KPTI) (RBA) Higher; (ANF) (CBK) (GIII) Lower

August 30, 2016 12:56 PM EDT

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Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) 50.8% HIGHER; announced that fostamatinib, its oral spleen tyrosine kinase (SYK) inhibitor, met the primary endpoint in the first of two double-blind studies in the FIT Phase 3 clinical program for the treatment of adult chronic/persistent immune thrombocytopenia (ITP). The study (n=76) showed that 18% of patients receiving fostamatinib achieved a stable platelet response compared to none receiving a placebo control (p=0.0261).

Abercrombie & Fitch (NYSE: ANF) 28.5% LOWER; reported Q2 EPS of ($0.25), $0.05 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $783.2 million versus the consensus estimate of $782.1 million. Comps fell 4 percent, versus an estimated 3.8 percent drop. The company sees comparable sales to remain challenging through the second half of the year, with a disproportionate effect from flagship and tourist locations.

Karyopharm Therapeutics Inc. (Nasdaq: KPTI) 28.0% HIGHER; confirmed that, as had been reported on clinicaltrials.gov, it intends to expand its Phase 2b STORM study evaluating the activity of selinexor in multiple myeloma (MM) to include approximately 120 additional patients with penta-refractory MM.

Christopher & Banks (NYSE: CBK) 19.7% LOWER; reported Q2 EPS of ($0.11), $0.05 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $89.9 million versus the consensus estimate of $94.87 million. Comparable sales decreased 5.8% compared to a 12.4% decrease in the same period last year. Christopher & Banks sees Q3 2016 revenue of $102-108 million, versus the consensus of $107.8 million.

Ritchie Bros. Auctioneers (NYSE: RBA) 18.6% HIGHER; Ritchie Bros. and IronPlanet jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire IronPlanet for approximately US$758.5 million, subject to customary closing adjustments.

G-III Apparel Group (Nasdaq: GIII) 18.5% LOWER; reported Q2 EPS of ($0.03), $0.21 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $442.3 million versus the consensus estimate of $484.85 million. G-III Apparel Group sees FY2017 EPS of $2.16-$2.26, versus prior guidance of $2.55-$2.65 and the consensus of $2.58. G-III Apparel Group sees FY2017 revenue of $2.48 billion, versus prior guidance of $2.56 billion and the consensus of $2.56 billion.

Syros Pharmaceuticals (Nasdaq: SYRS) 16.3% HIGHER; announced that research from its scientific founders validates CDK12 and CDK13, members of the transcriptional cyclin-dependent kinase family that play a critical role in regulating gene expression, as promising new drug targets for a range of aggressive and difficult-to-treat cancers.

Alcobra Ltd. (Nasdaq: ADHD) 16.1% LOWER; posted Q2 results. Total operating expenses in the second quarter 2016 were $5.9 million, compared to $5.2 million in the second quarter 2015. Loss was $0.21 per share, versus a loss of $0.24 per share posted in Q215.

ScanSource (Nasdaq: SCSC) 15.8% LOWER; reported Q4 EPS of $0.51, $0.20 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $877.5 million versus the consensus estimate of $886.2 million. ScanSource sees Q1 2017 EPS of $0.60-$0.68, versus the consensus of $0.76. ScanSource sees Q1 2017 revenue of $875-925 million, versus the consensus of $933.8 million.

Intrepid Potash (NYSE: IPI) 13.7% HIGHER; rising as peers Potash Corp. and Agrium affirmed holding discussions over a potential combination.

Phibro Animal Health (Nasdaq: PAHC) 13.7% HIGHER; reported Q4 EPS of $0.40, $0.02 better than the analyst estimate of $0.38. Revenue for the quarter came in at $189.2 million versus the consensus estimate of $183.62 million. Sees FY17 revenue of $750 - $770 million and adjusted EPS of $1.38 - $1.45. The consensus is at revenue of $768.4 million and EPS of $1.63.

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