Gapping down
In reaction to disappointing earnings/guidance:
- EGAN -19.4%, GME -5.2% (also says it continues to conduct a comprehensive review of strategic and financial alternatives, including, but not limited to, a potential sale of the company)
- UMC -0.4%, ZUMZ -0.3% (also reports Aug comps of +9.5% vs +7.4% year ago and +9.1% last month)
Overseas financial names are lower following weakness in overseas trade:
- ING -4.5% DB -2.9% (China's HNA Group in talks to divest its 7.6% stake in DB as part of move to sell majority of overseas investments, according to the WSJ)
- BCS -1.5%, HSBC -0.6% (following weakness in overseas trading)
Other news:
- HOME -1.6% (announces underwritten secondary public offering of 10.0 mln shares of common stock by selling shareholders)
- LASR -1.5% (prices follow-on public offering of 4.5 mln shares of common stock at $26.50 per share)
- TSLA -1.4% (seeing continued weakness following Citron lawsuit)
- AMD -1.4% (extending yesterday's pullback)
- VZ -1.1% (Verizon's media and advertising unit exec Tim Armstrong set to leave the company, according to WSJ)
- AKCA -0.8% (ticking lower; enacted a plan to reorganize its workforce)
- FB -0.8% / NFLX -0.7% (continued weakness)
- INFN -0.5% (prices upsized offering of $350 mln aggregate principal amount of convertible senior notes due 2024)
- TLYS -0.4% (prices registered public offering by certain selling stockholders of 5.5 mln shares of Class A common stock at $18.50 per share)
Analyst comments:
- CVE -2.8% (downgraded to Sell from Neutral at Goldman)
- TROW -1.1% (downgraded at Deutsche Bank)
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