Gapping down In reaction to disappointing earnings/guidance: SHOO -10.5%, NCR -10.4%, IBM -6.3%, SAP -4.2%, PHG -3.9%, VFC -3.6%, ESLT -0.9%, (anticipates extraordinary finance expenses in Q3) CHL -0.9%, .
M&A news: CSX -3.4% (Canadian Pacific announced that exploratory conversations held with CSX (CSX) about a possible business combination have ended, no further talks are planned)
Select EU related names showing weakness: PT -21.5%, ARMH -2%, ALU -1.7%, MT -1.5%, NOK -1.4%, ASML -1.4%, AZN -1.2%, HSBC -1%
Select oil/gas related names showing early weakness: TOT -2.2%, STO -2%, PBR -1.9%, RDS.A -1.8%, BP -1.2%
Other news: IBIO -24.3% (may be related to calming Ebola news over the weekend), LAKE -9.9% (may be related to calming Ebola news over the weekend), ESI -3.6% (modestly pulling back following last weeks gains), TKMR -3.5% (easing ebola concerns over the weekend), ORCL -1.7% (in symp with SAP earnings), HPQ -1.6% (in symp with IBM), TSLA -1.2% (still checking), MSFT -1% (in symp with IBM earnings)
Analyst comments: CGG -4.6% (downgraded to Sell from Neutral at Goldman), SDRL -2.6% (downgraded to Neutral from Buy at Citigroup ), CLF -2.3% (downgraded to Sell from Neutral at Citigroup), PBCT -0.9% (downgraded to Mkt Perform from Outperform at Raymond James).