Gapping down
In reaction to disappointing earnings/guidance: EOPN -27%, SGI -14.4%, GPS -5%, ZAGG -3.2%, MU -2.7% (also downgraded to Underperform from Market Perform at Wells Fargo), WFC -1.5%, POT -0.8%, LRN -0.4%, (light volume).
Select ag/potash stocks trading lower following POT guidance: IPI -1.4%, MOS -1.4%, AGU -0.8%, .
A few MU peers are trading modestly lower: NVDA -2.5% (downgraded to Underperform from Neutral at Macquarie), SNDK -0.8% (following MU results), INTC -0.7% (Intel downgraded to Neutral from Outperform at Macquarie)
Other news: ECYT -27.4% (Endocyte announces DSMB recommendation for amendment to informed consent given that vintafolide monotherapy arm is unlikely to be declared superior to docetaxel), ASTM -16.7% (announces one-for-twenty reverse stock split), DOW -5.9% (Dow Chemical signs definitive agreement under which Dows global Polypropylene Licensing & Catalysts business will be divested to W. R. Grace for a sale price of $500 mln), DEG -5.3% (still checking), NPSP -4.5% (following cautious comments on MadMoney), NMFC -3% (commences primary offering of 3,000,000 shares of common stock and secondary offering of 3,000,000 shares of common stock on behalf of selling stockholder), ONNN -2.9% (amends and increases existing revolving credit facility to $800 mln ), ISIS -2.7% (following cautious comments on MadMoney), LXP -2.3% (announces public offering of 10 mln common shares), ACAD -1.7% (following cautious comments on MadMoney), STI -1% (SunTrust Banks announces settlement of legacy mortgage matters that will impact Q3 results by $0.33 ), TSL -0.9% (statement on antitrust litigation from Energy Conversion devices; believes lawsuit is without merit ), BPL -0.3% (Buckeye Partners prices upsized offering of 7.5 mln LP units at $62.61 per unit; the offering was upsized by 1 mln units), GORO -0.2% ( announces resignation of CFO Brad Blacketor and promotion of Joe Rodriguez to CFO).
Analyst comments: LLY -4.4% (downgraded to Underperform from Hold at Jefferies), SYNA -2% (ticking lower, downgraded to Neutral from Overweight at JPMorgan), MYGN -1.9% ( initiated with a Reduce at Sun Trust Rbsn Humphrey), LTD -1.1% (light volume, downgraded to Neutral from Outperform at Credit Suisse), GLW -1.1% (downgraded to Neutral from Overweight at Piper Jaffray), DPS -1% (downgraded to Market Perform from Outperform at Wells Fargo), CHK -1% (downgraded to Hold at Stifel),