Morning Buzz: BofA (BAC), ASML Holding (ASML), Receptos, (RCPT), DBV Technologies (DBVT), Delta Air Lines (DAL)

Bank of America Corporation (BAC) reported second quarter non-GAAP EPS of $0.45 before the opening bell Wednesday, compared to the consensus estimate of $0.36. Revenues increased 1.8% from $21.75 billion last year to $22.35 billion. Analysts expected revenues of $21.72 billion. BofA’s results were positively impacted in part by substantially lower legal costs, which came in at $175 million in Q2/15 compared to $4 billion in the year-ago quarter.

“Solid core loan growth, higher mortgage originations and the lowest expenses since 2008 contributed to our strongest earnings in several years, as we continued to build broader and deeper relationships with our customers and clients,” Bank of America CEO Brian Moynihan said in a statement. “We also benefited from the improvement in the U.S. economy, where we are particularly well positioned…”

The stock is currently up $0.45 to $17.58 on 4.3 million shares.

ASML Holding NV (ASML) shares are up $3.40 to $106.47 in pre-market trading Wednesday after the company reported its second quarter earnings results. The semiconductor production equipment maker posted earnings of EUR 0.86, ($0.95), per share on revenues of EUR 1.65 billion, ($1.82 billion), up 0.6% from a year ago. Analysts were expecting EPS of EUR 0.82, ($0.90), on revenues of EUR 1.61 billion ($1.77 billion).

Outlook : The company guided Q3/15 revenues of EUR 1.5 – 1.6 billion, as compared to analysts’ expectations of EUR 1.49 billion.

Shares of Receptos, Inc. (RCPT) spiked up by more than 10 percent on Wednesday after the drug maker Celgene Corporation (CELG) said it will buy the company for $7.32 billion in cash.

Summit, New Jersey-based Celgene agreed to pay $232 per share for Receptos, and the companies valued the deal at $7.2 billion excluding Receptos’ cash on hand. That’s a 12% premium from RCPT’s Tuesday closing pps.

Celgene said the deal “significantly enhances [its] inflammation & immunology portfolio,” while also further diversifying the company’s revenue beginning in fiscal 2019 and beyond.

Shares of DBV Technologies S.A. (DBVT) are down 4.09% in pre-market hours after the clinical-stage specialty biopharmaceutical company, today announced the pricing of an underwritten public offering of 3.6 million ordinary shares in the form of 7.2 million ADSs, at $34.00 per ADS.

DBV said the gross proceeds to the company from the offering are expected to be $244.8 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

Delta Air Lines, Inc. (DAL) dropped $0.73 to $42.93 in pre-market trading after it reported financial results for the June 2015 quarter.

The airline carrier handed in earnings of $1.27 per share on revenue of $10.71 billion, up 22% from the June quarter of 2014, beating Wall Street estimates of $1.21 per share on revenue of $10.65 billion. Net income came in at $1.49 billion, or $1.83 per share, compared to $801 million, or $0.94 per share in 2Q14.

Richard Anderson, Delta’s chief executive officer stated, “Our significant fuel savings in the September quarter should allow us to produce another record quarter with more than 30% EPS growth, a 19-21% operating margin and $1.9 billion of operating cash flow.”

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