Gapping down
In reaction to disappointing earnings/guidance:
- MIC -23.4% (withdraws guidance and suspends dividend; provides strategic alternatives update), CHWY -2.9%, MNRO -1.3% (guides below consensus for MarQ revs and FY20 EPS)
Other news:
- XAIR -5.4% (entered into $50 mln at-the-market equity offering sales agreement)
- FLWS -3.1% (requested a reasonable delay in the closing of the previously announced acquisition of PersonalizationMall.com) MMM -2.5% (President Trump tweets that he has invoked defense protection act to force 3M to build masks after "seeing what they were doing")
- SYRS -2.4% (Steven Cohen discloses 5.1% passive stake)
- WPX -2.3% (attributed to block trade)
Analyst comments:
- REAL -2.2% (downgraded to Neutral from Buy at B. Riley FBR)
- PVH -2.1% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)
- URI -1.4% (downgraded to Neutral from Outperform at Exane BNP Paribas)
- MCY -1.3% (downgraded to Underperform from Mkt Perform at Raymond James)
- SHAK -0.9% (downgraded to Neutral from Outperform at Credit Suisse)
- RL -0.9% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)