Gapping down
In reaction to disappointing earnings/guidance:
- CNXM -31.5%, CPA -1.3%
Other news:
- DO -61.2% (confirms voluntary Chapter 11 proceedings to restructure and strengthen balance sheet)
- VSTM -27.4% (reports preliminary data from investigator-initiated study highlighting clinical activity of RAF/MEK and FAK combination)
- ERJ -11% (Boeing terminates agreement to establish joint ventures with Embraer)
- VXX -2.5% (pulling back with US futures up 1%)
Analyst comments:
- CLVS -5.3% (downgraded to Underperform from Mkt Perform at SVB Leerink)
- W -2.1% (downgraded to Hold from Buy at Stifel)
- CAT -1.8% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- URI -1.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- FLR -0.9% (downgraded to Neutral from Buy at Citigroup)
- AHH -0.6% (downgraded to Neutral from Buy at BofA/Merrill)