Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- CRTN -25.2%, LULU -20.1%, GEVO -16.2%, FRTA -8.4%, WOR -6.3%, WRD -4.7%, SIGM -3.4%, EXFO -3.4%, SAIC -0.5%
M&A news:
- CVE -9.2% (Cenovus Energy acquires ConocoPhillips' 50% interest in the FCCL Partnership and also purchases the majority of ConocoPhillips' Deep Basin conventional assets in Alberta and British Columbia for a total consideration of $17 bln; immediately accretive; enters into a bought-deal financing agreement)
- AKAM -0.8% (to acquire SOASTA in an all-cash transaction for an undisclosed sum; co expects the SOASTA acquisition to be slightly dilutive to its adj FY 17 EPS in the range of $0.06-0.07 and to become accretive in 2018)
Other news:
- TNXP -13.8% ( commences common stock offering)
- SA -6.8% (announces CAD$14.3 million bought deal offering of common shares and concurrent CAD$20.0 million bought deal offering of flow-through shares )
- OFS -5.2% (commences an underwritten offering of 3,500,000 shares of its common stock)
- CARA -4.5% (commences $80 mln common stock offering)
- PGNX -4.1% (Phase 2b trial of AZEDRA has achieved its primary endpoint)
- CBIO -2.9% (New Enterprise Associates increases active stake)
- CRBP -2.8% (positive topline data from its Phase 2 study evaluating multiple doses of anabasum)
- CAB -2.2% (coming off of late spike on reports that it may sell its finance unit to Synovus)
- UAA -1.1% (LULU sympathy)
Analyst comments:
- CY -2.7% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- FSC -2.1% (downgraded to Underperform from Mkt Perform at Raymond James)
- UTHR -2% (initiated with a Sell at UBS)
- RH -1.6% (downgraded to Neutral from Buy at Goldman)
- GT -0.7% (downgraded to Neutral from Buy at Goldman)