>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • YELP -31.3%, UEPS -21.4%, NTRA -15.4%, SWIR -13.8%, ATVI -11%, TTD -10%, EPAY -9.6%, RDFN -8.9%, WPRT -8.2%, MCFT -7.8%, SWKS -7.7%, CTL -7.7%, SGMO -7.5%, FNKO -7.3%, TRXC -6.4%, ASRT -6.3%, XRAY -4.9% (also announces restructuring plan expected to result in $200-225 million of net annual cost savings by 2021), ICUI -4.4%, VRAY -4.2%, BSTI -4%, COLL -3.7%, TSE -3.5%, AMC -3.5%, TCDA -3.4%, INO -3.3%, ZGNX -3%, CHMA -2.9% (also entered into $25 mln 'at the market offering' sales agreement with Cowen), UIS -2.6%, FGEN -2.5%, GMED -2.2%, TSM -1.8% (Oct sales) XON -1.7%, BRS -1.4%, NOG -1.3%, ADNT -1.1%, SBS -1%

M&A news:

  • IIVI -9.9% (to acquire FNSR for $26.00 per share)

Other news:

  • NBEV -18.6% (after filing supplement to the prospectus dated October 16, 2017 - sold an aggregate of 8,088,565 shares of common stock in Sept-Oct of 2018)
  • ACRX -14.3% (commences common stock offering)
  • OMER -11.4% (proposed private offering of $210 mln aggregate principal amount of its Convertible Senior Notes due 2023)
  • OMP -8.4% (Oasis Petroleum to sell select interests in Bobcat DevCo and Beartooth DevCo to Oasis Midstream Partners for $250 mln; has commenced an underwritten public offering of 2.0 mln common units to fund a portion of the acquisition's purchase price)
  • ADRO -5% (presents prelim data from its Phase 1 dose-finding study of ADU-S100)
  • UBS -2.5% (United States sues UBS to recover civil penalties for fraud in the sale of residential mortgage-backed securities; UBS says DOJ's claims are not supported by the facts or the law)
  • PCG -1.5% (continued weakness; PG&E is not proceeding with public safety power shutoff planned for portions of eight northern California counties - weather conditions did notwarrant this safety measure)
  • SRPT -0.8% (prices offering of 3,817,000 shares of its common stock at $131.00 per share)

Analyst comments:

  • YRCW -4.6% (downgraded to Hold from Buy at Stifel)
  • KORS -2% (downgraded to Neutral from Outperform at Credit Suisse)