Gapping down
In reaction to disappointing earnings/guidance:
- SEE -10.4% (issued downside guidance for Q3 EPS and lowered FY18 EPS outlook), TXT -9.8%, TCBI -7.3%, URI -5.6%, KALU -5.2%, LNN -5%, CCK -3.8% (issued downside guidance for Q4 EPS), OIS -3.3% (updated Q3 guidance; sees profit and revenue below consensus), BDN -3.2% (one trade) SAP -3.2%, SLG -2.4%, UN -1.8%, CCI -1.5%, BK -0.6%, PPG -0.6%
M&A news:
- EXAS -1.2% (acquires Biomatrica)
Select China related names showing weakness with the Shanghai -2.9% overnight:
- BZUN -1.6%, ASHR -1.5%, WB -1.4%, MOMO -1.3%, BABA -1.2%, JD -1%, BIDU -0.6%
Other news:
- ACRS -11.9% (prices offering of 8,645,000 shares of common stock at 10.75 per share)
- SELB -8.4% (informed of a Grade 5 Serious Adverse Event in trial of combination product candidate SEL-403)
- KRYS -4.1% (commenced offering of $60 mln of common stock)
- OMED -1.8% (Celgene notified company of decision not to exercise its option to license rosmantuzumab)
- ZG -1.4% (announced management transitions, including departure of COO)
- STZ -1.3% (appoints Bill Newlands to succeed Rob Sands as CEO)
- MUR -0.7% (filed mixed securities shelf offering)
Analyst comments:
- TER -2.4% (downgraded to Neutral from Buy at Goldman)
- ADI -2% (downgraded to Sell from Neutral at Goldman)