Gapping down
In reaction to disappointing earnings/guidance: XXIA -14.3%, ESV -6.5%, (announces prelim financial info for Q1; commences underwritten public offering of 50 mln ordinary shares ), AGX -6.5%
M&A news: RLYP -8.3% (reports that the company dismissed its M&A advisor Centerview), MITL -1% (acquires PLCM for $13.68 per share)
Select oil/gas related names showing early weakness: WLL -4.4%, RIG -2.8%, CHK -2.2%, RIG -2.1%, BP -1.3%, TOT -1.2%, E -1%, XOM -0.5%
Other news: MEMP -18.1% (redetermination resulted in a revised borrowing base of $925 million, a decrease of 21% from the previous level of $1,175 mln; amends credit facility ), ESV -6.5% ( commences underwritten public offering of 50 mln ordinary shares ), OSIR -4.9% ( terminates Chief Medical Officer, Jon Hopper), STON -3.7% (announces 2 mln unit offering), SNY -1.7% (modest pullback following recent strength), NM -1.5% (Navios Maritime and Navios Maritime Acquisition Corp (NNA) terminate loan agreement), NKE -1.2% (may be attributed to cautious footwear commentary at Cowen), UA -1.2% (may be attributed to cautious footwear commentary at Cowen)
Analyst comments: DDD -4% (downgraded to Sell from Neutral at Citigroup), FL -2.3% (downgraded to Market Perform from Outperform at Cowen), BGG -2.3% (downgraded to Neutral at Robert W. Baird on valuation)