New put positions in Chicago Bridge and Iron (CBI), Aecom (ACM) and Jacobs Engineering (JEC) swung wildly. First they sank due to a rumor of a delay in the federal infrastructure bill and then spiked because of a tweet from the president that he would announce “big” news about infrastructure spending when he addresses Congress tonight. I am sticking with my analysis that it will be a slow grind to get funds approved before the end of 2018 and that the stocks will sink as investors realize growth is two years away.

ANI Pharmaceuticals (ANIP) acquired two new products for about $51 million. Inderal and Innopran are both extended-release hypertension products that generated $23 million in sales last year. ANI will report earnings this Thursday, March 2, before the market opens.

Conference call information is as follows:
Date: Thursday, March 2

Time: 10:30 am (EST)

Dial In: The call will be open to the public and can be accessed through a conference line by dialing (866) 776-8875. The conference ID is 51451144.

What to listen for: I am most interested in the company’s update on the timing of its re-commercialization of corticotropin. The company has offered few concrete details for this product except to say it is ahead of schedule. Most models have it penciled in for the second half of 2018 so anything sooner would be a huge positive.

Masonite (DOOR) reported a slight miss for the December quarter but gave stronger-than- expected guidance for 2017. Late in 2016 the company learned that it had won the Home Depot contract for doors. A similar contract at Lowe’s in 2015 helped reignite Masonite sales. For the year 2017 management guided to earnings of $4.35 versus analysts’ expectation of $3.68. Note these new higher estimates imply earnings growth of 43% in 2017. My target on Masonite is under review and will likely be increased.

Gypsum Management and Supply (GMS) completed a secondary offering through private equity investors, who sold 6.95 million shares. The shares were priced at $29.25, only a slight discount to where the stock was trading at the time of the offering. In another vote of strong investor demand for the deal, its original size increased from 6 million shares to 6.95 million shares. Gypsum will report earnings on March 9 before the market opens.

Impinj (PI) got a boost from brokerage firm Morgan Stanley, which initiated coverage on the stock with an overweight rating. Analyst Craig Hettenbach, who put a $40 price target on shares, wrote in a note to investors that Impinj is the “best way to play” the “tipping point” in “radio-frequency ID,” or RFID, technology. Hettenbach added: “We see accelerating RFID adoption, as evidenced by a strong uptick in end point IC shipment growth.”