Gapping down
In reaction to disappointing earnings/guidance:
- PIXY -16.3%, EXPR -13.8%, TLYS -11.5%, RYB -11.1%, AMWD -5.7%, DLTR -3.4%, DGX -2.5% (at Investor Day lowers FY18 guidance; updates long-term guidance; raises dividend 6%), IIIV -2%, GES -1.6%, DSGX -0.7%, CMD -0.6%
M&A news:
- HTZ -2.8% (Hertz Global competitor Sixt denies speculation it is in talks to acquire Hertz, according to Bloomberg)
Other news:
- I -12.4% (commences public offering of 10.0 mln common shares by selling shareholders)
- ATO -4.2% (offering of 7,008,087 shares of its common stock at a public offering price of $92.75 per share)
- DB -3.8% (news that Frankfurt offices were raided; investigation relates to the Panama Papers)
- SJW -3.3% (prices public offering of 6.75 mln shares of common stock at $55/share)
- NDLS -3.2% (indicated lower on block trade pricing)
- PTGX -3.2% (continued weakness), IQ -1.4% (proposes offering of $500 mln in aggregate principal amount of convertible senior notes due 2023)
- NCLH -1.3% (prices approx 18.9 mln shares in secondary offering by holders at $51/share)
- UN -1.3% (CEO Paul Polman has decided to retire)
Analyst comments:
- EQNR -2.3% (downgraded to Underweight from Neutral at JP Morgan)
- VCYT -1.8% (downgraded to Neutral from Buy at Janney)
- STZ -1.2% (downgraded to Neutral from Outperform at Macquarie)
- MPLX -1.1% (downgraded to Neutral from Buy at BofA/Merrill)
