Gapping down
In reaction to disappointing earnings/guidance: XOMA -20.6% (also provides
update on gevokizumab proof-of-concept program: Results from two Phase 2
erosive osteoarthritis of the hand studies do not support movement to
pivotal development; downgraded to Neutral from Outperform at Credit
Suisse), IMRS -8.3%, HCI -8.2%, CSIQ -8.2%, CHEF -5.7%, BOBE -5.3% (light
volume), MEMP -4.6%, (light volume), ABM -2.1%, (light volume), ALDW
-1.1%, MCEP -0.9%, (light volume), CTIC -0.3%.
M&A news: YONG -18.0% (Yongye Intl. announces going private proposal not
approved by stockholders).
A few financial related names showing modest weakness: HSBC -1%, BCS -0.9%
and DB -0.3% (Barclays PLC and Deutsche Bank were accused of manipulating
the London gold fix, according to reports ) .
Solar names trading lower: JKS -2.4%, TSL -2.3%, FSLR -1.6%,
Other news: USU -28.1% (to implement financial restructuring plan; files
voluntary, prearranged plan of reorganization under Chapter 11), CERE
-10.9% (prices 20 mln shares of common stock at $1.00 per share), ETRM
-5.9% (ahead of Cowen conf presentation today), NCLH -5.4% (announces
launch of secondary public offering of 15 mln ordinary shares by selling
shareholders), PAL -3.9% ( provides corporate update), AUDC -3.5%
(announces proposed public offering of ordinary shares, size not
disclosed), THOR -3.3% (issues worldwide urgent medical device correction
letter to update its labeling regarding the use of the HeartMateII LVAS
Pocket System Controller), ANIP -3.3% (intends to offer its common stock
in a registered public offering pursuant to its existing shelf
registration statement ), COWN -2.4% (prices of its offering of $130 mln
of 3.0% cash convertible senior notes due 2019), OAK -2.3% (announces
launch of public offering of 5 mln Class A units), ACAD -2.1% ( prices 6.4
mln shares of common stock at $28.50 per share), BLMN -1.6% (prices
secondary public offering of 18 mln shares of the co's common stock by
selling stockholders at $24.50 per share), SPR -1.4% (prices 6,189,794
shares common stock by selling stockholders $28.62 per share), NLSN -1.2%
(announces secondary offering of 30 mln shares by selling shareholders),
VNTV -1.1% (announces secondary public offering of ~18.78 mln shares of
common stock by selling shareholders), CG -0.9% (prices 12 mln shares of
common units at $33.50 per unit), RATE -0.8% (prices secondary public
offering of 14 mln shares at $18.25 per share), BKU -0.8% (prices
10,307,197 shares of common stock by investment funds affiliated with The
Blackstone Group (BX), The Carlyle Group (CG), WL Ross & Co and
Centerbridge Partners at $33.50 per share), .
Analyst comments: SPLS -0.9% (downgraded to Neutral from Buy at B. Riley &
Co.), FMS -0.9% (light volume, downgraded to Hold from Buy at Berenberg),
SBY -0.4% (downgraded to Market Perform at Keefe Bruyette)