Gapping down
- Briefing note - With S&P Futures down 0.5% and Nasdaq Futures down 0.8%, majority of stocks are trading lower. The following represent weakness on identified catalysts/news
In reaction to disappointing earnings/guidance:
- FINL -29.3%, (releases prelim Q2 results, lowers FY18 guidance- sees Q2 sales of $469.4 mln vs. $477.8 mln Capital IQ Consensus Est, sees EPS of $0.08-0.12 vs. $0.38 consensus)
- SFUN -4.7%, PSEC -3%, NOAH -1.6%
Select FINL peers/related names showing weakness:
- FL -3.5%, UA -2.4%, NKE -2%, DKS -1.7%
Other news:
- ACOR -28% (received a Refusal to File letter from the FDA regarding its NDA for INBRIJA)
- KMDA -2.3% (discloses that the FDA issued a letter stating that it continues to have concerns and questions about the safety and efficacy of the Inhaled AAT)
- PAA -0.9% (Moody's downgraded Plains All American Pipeline LP.'s senior unsecured rating to Ba1 from Baa3)
Analyst comments:
- NTLA -2.4% (downgraded to Neutral from Buy at Chardan Capital Markets)
- AVXS -2.3% (initiated with Reduce at Nomura)