Gapping down
In reaction to earnings/guidance:
- GIS -4.4%, CP -2.9% (guidance), NG -2%, JEF -1.4% (also increases repurchase program to $250 mln)
Select semiconductor related names showing early weakness following reports the US mulling new restrictions on artificial intelligence chip exports from China:
- NVDA -3%, AMD -2.7%, SMH -1.3%, MU -0.9%, INTC -0.7%
Other news:
- ASTS -25.7% (launches 12 mln share offering)
- ETON -19.6% (receives Complete Response Letter (CRL) for dehydrated alcohol injection for the treatment of methanol poisoning)
- AXSM -11.2% (proposed public offering of common stock)
- FHTX -6% (clinical data from phase 1 study of FHD-286)
- EAR -3.2% (approves cost reduction plan 32-42% workforce reduction; CEO to step down)
- LQDA -1.5% (Liquidia Technologies and Pharmosa Biopharm to collaborate for sustained-release inhaled treprostinil product in North America)
- GPI -1% (SVP sold 10,000 shares)
Analyst comments:
- MLCO -2.6% (downgraded to Neutral from Buy at BofA Securities)
- DKL -2.3% (downgraded to Sell from Neutral at Citigroup)
- UBER -0.6% (downgraded to Outperform from Buy at Daiwa Securities)