Gapping down
M&A news:
- FOXA -6.1% (Anticipated merger with DIS announced; Deal is approx $52.4 bln in stock),
- DIS -2.1% (Anticipated merger with FOXA announced; Deal is approx $52.4 bln in stock).
Other news:
- GPP -9.7% (thinly traded; indicated lower on block trade pricing),
- PTI -3.7% (prices underwritten public offering of 8 mln shares of its common stock at a price to the public of $5.00 per share),
- CASI -3.5% (files $100 mln mixed securities shelf offering),
- OMF -3.3% (announces secondary offering of 7.5 mln shares of common stock by selling stockholder).
Analyst comments:
- PIR -27.2% (downgraded to Sell from Hold at Gordon Haskett; tgt $3.50),
- VRX -3.7% (downgraded to Underweight from Neutral at JP Morgan),
- THC -2.4% (downgraded to Underweight from Neutral at JP Morgan),
- CBL -1.6% (downgraded to Sell from Neutral at Citigroup),
- NLSN -1.5% (downgraded to Underweight from Equal Weight at Barclays),
- WU -1.1% (resumed with a Sell at Goldman; tgt $17),
- GPS -1.1% (downgraded to Perform from Outperform at Oppenheimer),
- ONCE -0.8% (downgraded to Neutral from Buy at Goldman; tgt lowered to $58 from $106)