Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- INOV -37.4%, ( lowers FY16 guidance due to inability to enter into expected collaboration agreement as a result of unforeseen circumstances impacting counter-party)
- PPHM -5.4%, PAY -3.1%, WWE -3%, (raised the low end of its projected range of average paid WWE Network subs for Q4 and reaffirmed its 2016 adj. OIBDA and Operating income guidance; to offer $175 mln convertible senior notes due 2023 in a private placement )
Other news:
- PRTO -70.8% (Phase 3 clinical trial with investigational vonapanitase did not meet its primary endpoint)
- BDSI -19.8% (announces that its Phase 2b clinical study assessing the efficacy and safety of Clonidine Topical Gel for the management of painful diabetic neuropathy failed to show a statistically significant difference in pain relief)
- ELGX -10% (receives notice from its Notified Body in the EU that the Company would be receiving a suspension of the CE Mark for the AFX system within a few days)
- ARI -4.7% (offering of 10.5 mln shares of common stock for gross proceeds of about $180 mln )
- NSA -3.6% (prices 4.5 mln shares of common stock for gross proceeds of $94.5 mln)
- HBHC -3.4% (announces an underwritten public offering of 5 mln shares of its common stock)
- STAY -3% (prices secondary offering of 12.5 mln Paired Shares by selling shareholders)
- UNVR -2.2% (prices 12,500,000 shares of Univar's common stock at $25.25/share by selling shareholders)
- RPRX -2% (announces it has requested a meeting to discuss Phase 3 requirements for the development of Proellex for the treatment of symptomatic uterine fibroids; anticipates meeting in 1H of 2017 )
- MIK -1.8% (Michaels Stores announces secondary offering of 12 mln shares of common stock by selling stockholders and repurchase by the company of a portion of such common stock)
- ABUS -1.7% ( reports new results from the ongoing Phase II study of ARB-1467 in chronically infected HBV patients on stable nucleos(t)ide therapy )
Analyst comments:
- GNC -2.9% (downgraded to Underweight from Equal Weight at Barclays)
- CERN -2.7% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- DDR -1.7% (downgraded to Underweight from Equal Weight at Morgan Stanley)
- VIAB -1% (downgraded to Underperform at RBC Capital Mkts)
- ALXN -0.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- KO -0.7% (downgraded to Hold from Buy at Deutsche Bank)