Gapping down
In reaction to disappointing earnings/guidance:
- TUP -19.1%, PANW -15.3%, SHAK -13%, KTOS -12.5%, EVER -10.4%, CPS -10.2%, BSM -9.2%, CLVS -6.8%, CSOD -6.6%, TREE -6.2%, HTZ -5.7%, TNDM -5.5%, GH -5.2%, USCR -4.8%, MGI -4.3%, AXGN -4.1%, PUMP -4%, APTS -3.5%, WBT -3%, BMO -2.9%, AMWD -2.4%, OKE -2.2%, MIC -2.1%, MA -2% (updates first-quarter and full-year 2020 net revenue outlook based on the impact of the Coronavirus), FCN -1.7%, HALO -1.5%, ICPT -1%
Other news:
- BXC -13% (issues statement regarding 'misleading' public statements by Bluefin Acquisitions)
- EXAS -6.4% (aupsizes offering to $1.0 bln (from $850 mln) and prices 0.3750% convertible senior notes due 2028)
- BAND -4.3% (announces proposed private offering of $300 mln aggregate principal amount of Convertible Senior Notes due 2026)
- RDHL -3.2% (acquires rights to Movantik from AstraZeneca)
Analyst comments:
- BUD -1.9% (downgraded to Reduce from Hold at HSBC Securities)
- DIN -1.4% (downgraded to Neutral from Buy at MKM Partners)
- MU -0.7% (downgraded to Underperform from Buy at BofA/Merrill)