Gapping down
In reaction to disappointing earnings/guidance:
- ASNA -23.6%, HNI -12.5%, ( sees Q3 and FY EPS/revs below previous outlook), LEN -0.8%, LUK -0.6%, (Leucadia National's Jefferies reports Q3 results)
Other news:
- ECA -7.1% (prices offering of 107 mln shares of common stock at $9.35 per share)
- SEAS -6.2% (SeaWorld Entertainment cuts dividend by more than 50% to $0.10/share, suspends dividends thereafter; will opportunistically repurchase shares in the open market during the remainder of 2016)
- G -3.8% ( announces Board approval of a new $250 mln share repurchase program, bringing total authorization to $750 mln )
- OCLR -3.3% ( announces a 13 mln share underwritten public offering of common stock)
- CHK -3.2% (Carl Icahn lowers active stake), MLHR -2.2% (following HNI guidance)
- TSE -1.9% (Trinseo announces secondary offering of 10,669,567 ordinary shares by selling shareholder)
- DB -1.4% (plans to securitize over $1 bln in corporate loans, according to Reuters)
- AQXP -1.3% (prices 5,350,000 shares of common stock at $12.25 per share)
- GPS -0.8% (in sympathy with ASNA (earnings))
Analyst comments:
- FIVN -5% (downgraded to Underperform from Neutral at BofA/Merrill)
- F -0.5% (downgraded to Neutral from Buy at Buckingham Research)