Gapping down
In reaction to disappointing earnings/guidance:
- N/A.
Select oil/gas related names showing early weakness:
- MRO -1.3%, BP -1.2%, RDS.A -1.2%, TOT -0.5%, PSX -0.5%
Other news:
- ARE -3.3% (prices offering of 6 mln shares of common stock at $1.55.00 per share)
- ITCI -2.7% (10 mln share offering)
- RNR -1.5% (prices secondary public offering of 1,739,071 common shares by Tokio Marine & Nichido Fire Insurance Co)
- MRK -0.7% (KEYTRUDA showed "significantly improved" progression-free survival vs. chemotherapy, but study did not meet other dual primary endpoint)
Analyst comments:
- GOLF -4.2% (downgraded to Hold from Buy at Jefferies)
- CVX -0.8% (downgraded to Underperform from Neutral at BofA/Merrill)