Gapping down
In reaction to disappointing earnings/guidance:
- AAPL -8.3% (lowers Q1 revenue guidance, citing the iPhone and China)
M&A news:
- BMY -13.2% (to acquire CELG)
Select AAPL related names showing weakness:
- STM -9.3%, LITE -7.3%, QRVO -6%, SWKS -5.5%, OLED -4.4%, AVGO -4.1%, TSM -3.5%, XLK -3.2%, NVDA -3.1%, AMAT -2.9%, SMH -2.7%, AMD -2.7%, INTC -2.1%, QQQ -2%
Select FAANG stocks trading lower:
- NFLX -2%, GOOG -1.6%, AMZN -1.5%, FB -1.2%
Other news:
- SESN -20.4% (announces positive preliminary 12-month data from registration phase 3 vista trial of Vicinium for non-muscle invasive bladder cancer)
- MCRB -4.3% (enrolled the first patient in its Phase 2B trial, ECO-RESET, evaluating microbiome development candidate SER-287 in patients with active mild-to-moderate ulcerative colitis)
- TSLA -2.2% (under continued pressure)
- BA -1.5% (reports that KC-46 tank was delayed delivery due to plane issues)
- MRK -0.9% (exercises option to license NGM313, currently being evaluated for the treatment of nonalcoholic steatohepatitis and type 2 diabetes) .
Analyst comments:
- ABBV -1.5% (downgraded to Neutral from Buy at BofA/Merrill)
- DGX -0.8% (downgraded to Underperform from Neutral at BofA/Merrill)