Gapping down
In reaction to disappointing earnings/guidance:
- PLAY -19.5%
M&A news:
- MDSO -3.9% (confirms deal to be acquired by Dassault (DASTY) for $92.25/share in cash, representing an enterprise value of $5.8 bln)
Select financial related names showing weakness:
- CS -2%, DB -1.9%, BBVA -1.9%, SAN -1.3%, C -0.9%, HSBC -0.9%, BCS -0.9%, BAC -0.5%
Other news:
- KRNT -5.1% (files for ordinary share shelf offering; launches underwritten public offering of 4.34 mln ordinary shares)
- PBF -1.1% (PBF Energy to purchase the 157,000 barrel-per-day Martinez refinery, and related logistics assets, from Equilon Enterprises - will host call today at 5:15 p.m. ET to discuss the transaction)
- CNCE -0.7% (Concert Pharmaceuticals reports 'positive' results from two studies in its Phase 1 program evaluating CTP-692, a novel deuterium-modified form of D-serine being developed as an adjunctive treatment for schizophrenia)
Analyst comments:
- TTD -5.8% (downgraded to Reduce from Neutral at Nomura; tgt $144)
- LRCX -3.7% (downgraded to In-line from Outperform at Evercore ISI)
- CSCO -1.5% (downgraded to Mkt Perform from Outperform at William Blair)
- MAN -1.3% (downgraded to Neutral from Outperform at Credit Suisse)