>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • CYH -32.9%, (reports prelim Q3 results; cites lower than anticipated results caused by lower than expected volume / larger than anticipated reductions to reimbursement; lowers 2016 adj EBITDA guidance)
  • RWLK -22.5%, (also commences an underwritten public offering of units, which consist of ordinary shares of the Company and warrants to purchase ordinary shares)
  • TREE -16.7%, ASPS -16.3%, RCII -14.1%, CLF -13.7%, ESND -11.7%, AXTI -10.6%, PRXL -10.5%, (also approves new $200 mln stock repurchase)
  • ABMD -10.4%, INFN -10.1%, GNC -9.6%, CMPR -9.5%, GRPN -8.9%, KRA -7.9%, RHI -7.8%, RHI -7.8%, NOK -7.4%,ARRS -6.9%, ABB -6.4%, NTGR -6.3%
  • TRN -5.4%, FISV -5%, TILE -4.8%, SBGL -4.1%, EXLS -3.9%, CRI -3.3%, LKQ -3.3%, PPC -3.2%, MMLP -2.6%, APD-2.3%, BGCP -2.3%, ECHO -2.2%, TDC -2.1%
  • LLNW -2%, AXTA -1.9%, O -1.7%, MUR -1.7%, CMO -1.6%, SEE -1.6%, TIS -1.5%, PSA -1.5%, WLL -1.5%
  • VAR -1.4%, (also announces that Elisha W. Finney to retire as CFO; Varian Medical and McKesson (MCK) Specialty Health announce a strategic agreement for the deployment and servicing of Varian advanced radiotherapy equipment and software over a three-year period)
  • BT -1.4%, ALLE -1.3%, CME -1.1%, ORLY -1%
M&A news:
  • MPC -0.9% (plans to offer to dropdown MPLX (MPLX) assets contributing to approx. $350 mln of annual EBITDA by the end of 2017 and evaluate changes to its internal financial reporting)
Other news:
  • TBPH -15.1% (commences public offerings of $100 mln of ordinary shares and $150 mln convertible senior notes due 2023; also files mixed securities shelf offering ), AKS -8% (prices 65 mln shares of common stock at $4.90 per share)
  • ABEO -6.7% (commences common stock offering)
  • LOGI -4% (pulling back following yesterday's post-earnings strength)
  • THC -3% (CYH sympathy)
  • HLX -2.4% (to offer approx. $125 mln of Convertible Senior Notes due 2022)
  • BHP -1.3% (announces that Chief Commercial Officer Dean Dalla Valle will leave the Company at the end of March 2017)
  • VSI -0.9% (in sympathy with GNC)
Analyst comments:
  • NWSA -1.6% (downgraded to Underperform from Neutral at BofA/Merrill)
  • NCLH -1% (downgraded to Neutral from Overweight at JP Morgan)
  • FOSL -0.8% (initiated with a Underperform at Buckingham Research)
  • RCL -0.8% (downgraded to Neutral from Overweight at JP Morgan)
  • PSO -0.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)