Gapping down
In reaction to disappointing earnings/guidance:
- GSM -37.1%, FRAN -11.7%, HIBB -9.6%, BKE -8.7%, MTL -3.2%
M&A news:
- SWX -1.4% (to acquire Linetec Services through subsidiary Centuri Construction Group for overall initial transaction cost of approx. $336 mln; commences underwritten public offering of 3.1 mln shares of common stock)
Other news:
- HALO -12.3% (FDA has agreed to its request to change the primary endpoint of the HALO-301 study to "overall survival")
- GTHX -11.1% (reports updated myelopreservation data from Phase 2 trial of trilaciclib in combination with chemotherapy/Tecentriq in first-line small cell lung cancer), ACAD -6.5% (proposes public offering of $200 mln of its common stock)
- AMRN -5.4% (prices underwritten public offering of its American Depositary Shares for gross proceeds of approximately $200 mln)
- IMGN -4.9% (announces resignation of CFO David Johnston, effective immediately)
- KOS -3.5% (pricing of secondary offering of 15 mln of its common shares at $5.43 per share)
- DXCM -2.4% (to offer $750 mln of Convertible Senior Notes due 2023 in a private placement )
- GOOS -2.4% (announces secondary offering of 10 mln subordinate voting shares by selling shareholders)
- BMY -2.3% (announces that Phase 3 CheckMate -451 Opdivo study did not meet its primary endpoint)
- SABR -2.2% (pricing of secondary public offering of 23,304,636 shares of common stock at $24.95 per share)
- TSLA -2.2% (October China sales fall 70%)
- AAPL -2% (on potential iPhone tariffs)
- LW -1.5% (to join S&P 500)
- CMCM -1.3% (Cheetah Mobile responds to BuzzFeed article regarding attribution of app installations -- is in communication with all SDK providers to investigate the allegations)
Analyst comments:
- MAC -1% (downgraded to Underweight at Morgan Stanley)
