Gapping down
In reaction to earnings/guidance:
- SIVB -30.6% (lowers guidance; announces proposed offering of $1.25 bln of common stock and $500 mln of depositary shares; also in sympathy with SI news), ARHS -16.3%, MDB -10.9%, GCO -5.8%, JD -5.6%, MIRM -5.4%, KRO -5%, VSEC -3.8%, ESTE -3.2%, MEI -3.2%, BTAI -3%, DCBO -1.3%, NDLS -1%
Other news:
- SI -50.3% (to wind down operations and voluntarily liquidate Silvergate Bank)
- SBNY -9.8% (in sympathy with SI news)
- CWAN -6.3% (prices secondary offering of common stock priced at $15.00 per share)
- CS -5.5% (announces technical delay of publication of 2022 Annual Report)
- STGW -4.7% (16 mln share offering launched by selling shareholders)
- COIN -3.8% (in sympathy with SI news; confirmed has no client or corporate cash at Silvergate)
- HELE -2.6% (CFO to step down)
- PTON -2.1% (US import ban over its streaming technology according to Reuters)
- TNL -1.3% (increases dividend)
- LLY -1.1% (provides update on A4 Study of Solanezumab)
- AER -0.8% (prices secondary offering of 23.0 mln shares at $58.50 per share)
Analyst comments:
- ETSY -6.7% (downgraded to Underperform from Buy at Jefferies)
- GH -3.1% (downgraded to Neutral from Buy at Citigroup)
- FBIN -2.5% (downgraded to Underperform from Neutral at Credit Suisse)
- TX -1.1% (downgraded to Market Perform from Outperform at Itau BBA)
- H -1% (downgraded to Equal Weight from Overweight at Barclays)