Gapping down
In reaction to disappointing earnings/guidance:
- HAS -7.5%, PHG -6.4%, IQV -1.5%
M&A news:
- HCLP -4% (acquires general partner, resets quarterly distribution to $0.225/unit (from $0.75/unit), offers prelim Q3 results)
- WFT -1.2% (to sell its laboratory services business to a group led by CSL Capital Management, L.P. for $205 mln in cash)
Other news:
- MRTX -30% (presented Study data)
- AVEO -7.6% (presents updated interim results from the Phase 2 portion of the TiNivo study in combination with intravenous nivolumab for the treatment of advanced or metastatic renal cell carcinoma)
- TEUM -4.9% (files for $150 mln mixed securities shelf offering and approx 13 mln share secondary offering by holders)
- AAXN -4.3% (NYPD Police Commissioner has directed that the continued use and distribution of the LE-5 model cameras be suspended effective immediately following protect defect)
- AGEN -2.6% (reports clinical data for PD-1 & CTLA-4 antibodies show durable clinical benefit1 in early analyses) .
Analyst comments:
- MINI -3.2% (downgraded to Neutral from Outperform at Robert W. Baird)
- BMY -2.9% (downgraded to Neutral from Buy at Citigroup)
- CSIQ -2.3% (downgraded to Underweight from Neutral at JP Morgan)
- PHM -1.6% (downgraded to Hold from Buy at Deutsche Bank)
- WING -1.3% (downgraded to Neutral from Outperform at Wedbush)
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