Gapping down
In reaction to disappointing earnings/guidance:
- COST -3.1%, (also reports September comps of +8.9%), HELE -2.4%
M&A news:
- IRM -2.6% (Iron Mountain to acquire two Credit Suisse (CS) data centers in London and Singapore; enters into $500 mln distribution agreement)
- CRH -2% (Ash Grove receives competing proposal from a third party)
- GIMO -2% (acquisition talks with Elliott Management are said to have stalled over disagreements on price)
Other news:
- SNCR 26% (provides update on strategic alternatives process; enters into exclusivity agreement with Siris Capital Group following improved terms )
- ITEK -4.3% (after surging nearly 50% higher on Thursday)
- NLY -3.1% (to offer 65 mln shares of its common stock)
- IMGN -2.3% (pirces 14.5 mln shares of common stock at $6.50 per share)
- CDE -0.9% ( lowers 2017 production guidance due to San Bartolomé mine; reports Q3 silver equivalent production increased 7% quarter-over-quarter and 10% year-over-year)
- TGT -0.8% (following COST earnings/comps)
- WMT -0.5% (following COST earnings/comps), .
Analyst comments:
- CREE -3.3% (downgraded to Underweight from Neutral at JP Morgan)
- ALB -2.5% (downgraded to Neutral from Buy at Goldman)
- WBA -2.1% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- HFC -1.8% (downgraded to Underweight from Neutral at JP Morgan)
- VLO -1.6% (downgraded to Neutral from Overweight at JP Morgan )
- SAVE -1.3% (downgraded to Hold from Buy at Deutsche Bank )
- SYF -0.8% (downgraded to Neutral from Buy at BofA/Merrill)
- SAFM -0.7% (downgraded to Underweight from Neutral at JP Morgan)
