Gapping down
In reaction to disappointing earnings/guidance:
- CLDR -31%, PLAY -7.8%, KMX -5.2%
M&A news:
- A -1.5% (acquires remaining 52% of Lasergen for $105 mln )
- CBS -1.5% (Viacom / CBS late volatility attributed to reports that CBS submitted its bid)
- VIAB -0.9% (Viacom / CBS late volatility attributed to reports that CBS submitted its bid)
Select names showing weakness related to China's tariff retaliation :
- BA -4.5%, DE -3.7%, GM -3.5%, FCAU -3.5%, CF -3.4%, ADM -3.3%, NVDA -3.3%, CNHI -3.2%, CAT -3.1%, BG -2.9%, MOS -2.1%, UTX -2.1%, AAPL -2.1%, CRUS -1.9%, HRL -1.8%, GE -1.8%, TSN -1.7%, BUD -1.7%, FMC -1.6%, DWDP -1.4%, NXPI -1.1%
Other news:
- CLLS -8.5% (launches underwritten public offering of $175 mln of American Depositary Shares)
- SGH -7.6% (attributed to block trade pricing)
- SSNC -3.8% (prices 26,315,000 shares of its common stock at $47.50 per share)
- AA -3.5% (signed group annuity contracts to transfer $555 million in obligations, and related assets, of defined benefit pension plans in Canada; will result in $0.68/share after tax Q2 charge)
- NKTR -2.6% (previously-announced Strategic Collaboration Agreement between Nektar and Bristol-Myers Squibb Company is now effective)
- WPP -2.1% (Board confirms the appointment of independent counsel to conduct investigation in response to an allegation of personal misconduct against CEO Sir Martin Sorrell)
- CB -1.3% (preliminary net loss estimates in 1Q18 attributable to natural catastrophes, including the California mudslides, of $380 mln pre-tax, or $305 mln after tax)
Analyst comments:
- PTCT -6.2% (downgraded to Underweight from Equal Weight at Barclays)
- RMD -1.2% (downgraded to Neutral from Buy at Citigroup)