Gapping down
In reaction to disappointing earnings/guidance:
- CASA -25.7%, PFGC -15%, HOLI -10.7%, CREE -3%, A -2.4%
M&A news:
- FANG -7.3% (Energen to be acquired by Diamondback Energy (FANG) in all-stock transaction valued at ~$9.2 bln; representing an implied value to each Energen shareholder of $84.95/share)
Select China related names showing weakness:
- HUYA -6.6%, JD -5.3%, WUBA -5.3%, WB -5.1%, BZUN -4.8%, YY -4.6%, ASHR -3.5%, BABA -3%, BIDU -2.6%
Other news:
- SBBP -12% (proposed underwritten public offering of 9.0 mln ordinary shares)
- ENPH -7.9% (announces offering of $60 mln aggregate principal amount of convertible senior notes due 2023 in a private placement)
- CRZO -5.2% (prices underwritten public offering of 9.5 mln shares of its common stock at a price to the public of $23.00 per share)
- SHLD -4.4% (Eddie Lampert's ESL amends 13D disclosing non-binding proposal for the acquisition of Kenmore and SHIP)
- IIN -4.2% (proposed public offering of 1.5 mln shares of common stock)
- VRAY -3.8% (prices underwritten public offering of 16,216,217 shares of common stock at a price to the public of $9.25 per share)
- WTW -1.8% (attributed to block trade pricing)
- RBS -1.8% (agrees to pay $4.9 bln for financial crisis-era misconduct)
- SYMC -1.1% (David Tepper's Appaloosa discloses new holding)
- GDDY -1% (announces proposed sale of 10,390,942 shares of Class A common stock by selling stockholders)
Analyst comments:
- ICPT -2.9% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)
- TSRO -2.6% (downgraded to Hold from Buy at Argus)
- WDC -2.1% (downgraded to Market Perform from Outperform at Cowen)
- KMB -1% (downgraded to Hold from Buy at Societe Generale)
- UNP -0.9% (downgraded to Hold from Buy at Deutsche Bank)
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