Gapping down
In reaction to disappointing earnings/guidance:
- MTSI -9.7%, LZB -7.7%, WGO -4.9%
M&A news:
- NCR -5% (NY Post article suggests bidders "walked away" for M&A deal)
Other news:
- SESN -19% (proposes public offering of common stock and warrants)
- CALA -14.8% (prices underwritten public offering of 12,500,000 shares of its common stock at a price to the public of $4.00 per share)
- KURA -7.8% (prices underwritten public offering of 5,900,000 shares of its common stock at a price to the public of $17.00 per share)
- GPRE -7% (suspends its quarterly cash dividend in order to retain and redirect cash flow to the co's Project 24 opex equalization plan; prices offering of $105 million aggregate principal amount of convertible senior notes due 2024)
- ZYME -5.8% (files preliminary prospectus supplements for offering of common shares and pre-funded warrants)
- YY -5% (proposed offering of $425 million in aggregate principal amount of convertible senior notes due 2025)
- RIO -4.3% (issues update on iron ore guidance, says currently experiencing mine operational challenges)
- GNCA -3.3% (announces public offering of 10 mln shares of common stock)
- EAF -1.9% (files mixed securities shelf offering)
- BYND -1.7% (ongoing volatility)
- KOS -1.6% (attributed to block trade pricing)
- HPE -0.6% (will offer entire portfolio through a range of subscription, pay-per-use and consumption-driven offerings, in next three years )
Analyst comments:
- ENR -4.4% (downgraded to Underweight from Neutral at JP Morgan)
- SABR -3.3% (downgraded to Sell from Neutral at Goldman)
- SPWR -2.8% (downgraded to Mkt Perform from Outperform at Raymond James)
- MRTX -2.7% (downgraded to Neutral from Buy at B. Riley FBR)