Gapping down
In reaction to disappointing earnings/guidance:
- N/A
Other news:
- PSO -9.7% (decided it is prudent to pause share buybacks amid COVID-19 outbreak)
- SPPI -6.5% (files for $150 mln mixed securities shelf offering) M -5% (withdraws 2020 sales and earnings guidance, suspends dividend)
- LLY -4.9% (issued a complete response letter for the sNDA of the investigational medicine empagliflozin 2.5 mg)
- HA -4.5% (to suspend most long-haul passenger service)
- DE -2.8% (withdraws FY20 guidance due to COVID-19)
- F -2.8% (temporarily suspends production in India, South Africa, Thailand and Vietnam in response to coronavirus)
- DCP -2.4% (approved a plan to reduce quarterly distributions to its common unitholders to $0.39 per unit) .
Analyst comments:
- CCL -10.3% (downgraded to Underweight from Overweight at Wells Fargo)
- T -4.4% (downgraded to Neutral from Outperform at Robert W. Baird)
- SBUX -4.3% (downgraded to Neutral from Buy at MKM Partners)
- ABBV -3% (downgraded to Hold from Buy at Societe Generale)
- BMY -3% (downgraded to Hold from Buy at Societe Generale)
- UAL -1.6% (downgraded to Neutral from Buy at BofA/Merrill)
