Gapping down
In reaction to disappointing earnings/guidance:
- CRUS -6.9% (lowers Q3 revs guidance to $300 -340 mln from $360-400 mln vs $378.28 mln consensus due to recent weaknesses in the smartphone market), DG -6.4%, COUP -4.2%, TOL -3.1%, SECO -1.4%
Other news:
- APHA -10.9% (continued weakness following short-seller report)
- KRNT -9.5% (announces launch of 3.13 mln stock offering by selling shareholder Fortissimo Capital )
- FRAC -4.1% (pricing of underwritten secondary offering of 5,251,249 shares of common stock at a price to the public of $10.77 per share)
- UDR -0.8% (prices underwritten public offering of 7.15 mln shares of its common stock), .
Analyst comments:
- AAPL -2% (following CRUS guidance)
- AAPL -2% (downgraded to Hold from Buy at HSBC Securities)
- OI -1.5% (downgraded to Underweight from Sector Weight at KeyBanc Capital Mkts)
- WERN -1.1% (downgraded to Neutral from Buy at UBS)