Gapping down:
In reaction to disappointing earnings/guidance: HLIT -1.8% (light volume).
M&A news: ABBV -1.9% (Shire plc announced that it requested and has received a further revised proposal from AbbVie (ABBV); revised proposal comprises GBP 24.44 in cash and 0.8960 shares of new ABBV per SHPG share), GA -0.7% (Giant Interactive announces shareholders' approval of merger agreement ).
Metals/mining stocks trading lower: CDE -3.7%, AEM -2.7%, GFI -2.5%, AU -2.3%, SLW -2%, GDX -1.9%, GOLD -1.9%, ABX -1.6% (partners with Ma'aden to form Jabal Sayid JV ), AG -1.3%, GLD -1.1%.
Other news: X -1.2% (President and CEO applauds decision from U.S. Department of Commerce on Oil County Tubular Goods trade case ), MHR -0.5% (Reports Mid-Year 2014 Proved Reserves of 79.8 MMBoe; Proved Reserves Up 7.7 Million BOE From Year-End 2013 Volumes; PV-10 Increased $84.9 Million to $916.3 Million), VRX -0.4% (Allergan comments on Pershing Square's definitive proxy solicitation; urges stockholders to take no action at this time).
Analyst comments: GTAT -5.3% (attributed to Credit Agricole comments suggesting iPhone sapphire cover issues), FMC -1.5% ( downgraded to Hold from Buy at Jefferies), TRIP -1.2% ( downgraded to Neutral from Buy at Nomura), DWA -1% ( downgraded to Neutral from Buy at B. Riley & Co), YELP -0.9% (initiated with an Underweight at Evercore; tgt $65), EBAY -0.7% (downgraded to Sector Perform from Outperform at Pacific Crest), DAN -0.6% (downgraded to Neutral from Buy at Goldman), WFC -0.6% (downgraded to Neutral from Overweight at JP Morgan), USG -0.5% (downgraded to Sector Perform at RBC Capital Mkts; tgt lowered to $30), APAM -0.4% ( downgraded to Mkt Perform from Outperform at Keefe Bruyette), COV -0.3% (downgraded to Neutral from Overweight at Piper Jaffray ), VMC -0.2% (downgraded to Sector Perform at RBC Capital Mkts)
In reaction to disappointing earnings/guidance: HLIT -1.8% (light volume).
M&A news: ABBV -1.9% (Shire plc announced that it requested and has received a further revised proposal from AbbVie (ABBV); revised proposal comprises GBP 24.44 in cash and 0.8960 shares of new ABBV per SHPG share), GA -0.7% (Giant Interactive announces shareholders' approval of merger agreement ).
Metals/mining stocks trading lower: CDE -3.7%, AEM -2.7%, GFI -2.5%, AU -2.3%, SLW -2%, GDX -1.9%, GOLD -1.9%, ABX -1.6% (partners with Ma'aden to form Jabal Sayid JV ), AG -1.3%, GLD -1.1%.
Other news: X -1.2% (President and CEO applauds decision from U.S. Department of Commerce on Oil County Tubular Goods trade case ), MHR -0.5% (Reports Mid-Year 2014 Proved Reserves of 79.8 MMBoe; Proved Reserves Up 7.7 Million BOE From Year-End 2013 Volumes; PV-10 Increased $84.9 Million to $916.3 Million), VRX -0.4% (Allergan comments on Pershing Square's definitive proxy solicitation; urges stockholders to take no action at this time).
Analyst comments: GTAT -5.3% (attributed to Credit Agricole comments suggesting iPhone sapphire cover issues), FMC -1.5% ( downgraded to Hold from Buy at Jefferies), TRIP -1.2% ( downgraded to Neutral from Buy at Nomura), DWA -1% ( downgraded to Neutral from Buy at B. Riley & Co), YELP -0.9% (initiated with an Underweight at Evercore; tgt $65), EBAY -0.7% (downgraded to Sector Perform from Outperform at Pacific Crest), DAN -0.6% (downgraded to Neutral from Buy at Goldman), WFC -0.6% (downgraded to Neutral from Overweight at JP Morgan), USG -0.5% (downgraded to Sector Perform at RBC Capital Mkts; tgt lowered to $30), APAM -0.4% ( downgraded to Mkt Perform from Outperform at Keefe Bruyette), COV -0.3% (downgraded to Neutral from Overweight at Piper Jaffray ), VMC -0.2% (downgraded to Sector Perform at RBC Capital Mkts)