Gapping down
In reaction to disappointing earnings/guidance:
- BRKS -12.3%, KLIC -12.1% (guided DecQ revs below consensus), KSS -9.7%, TGT -9.1%, LB -7.7% (also halved annual dividend and named John Mehas new CEO of Victoria's Secret Lingerie), BECN -6.7%, LOW -6.1%, NUAN -4.4% (announced spin-off of Automotive segment), UXIN -2.9%, MBT -2.2%, HRL -1.9%, SFL -1%, BBY -0.8%
FAANG names showing weakness:
- NFLX -3.3%, AMZN -2.9%, AAPL -2.7%, FB -2.1%, GOOG -1.7%
Other news:
- BSX -6.5% (reaches agreement on the terms of a recommended offer to acquire BTG plc for approximately $4.2 bln)
- LIVN -6.8% (responds to CMS Proposed Decision Memo regarding its National Coverage Determination for the LivaNova Vagus Nerve Stimulation Therapy System for Treatment-Resistant)
- VST -1.4% (Bloomberg reports that 7.5 mln share block is said offered at $23.10-23.30)
Analyst comments:
- COG -3.1% (downgraded to Neutral from Buy at Goldman)
- CIEN -3% (downgraded to Hold from Buy at Needham)
