Gapping down
In reaction to disappointing earnings/guidance:
- MYGN -28% (also CEO resigns), MTW -16.7%, UI -15.6%, LMAT -14.8%, TTWO -9.6%, MOBL -9%, GOOS -8%, TSE -5.9%, FLT -5.5%, VRSN -4.5%, COLM -4.5%, POST -4.3%, NTUS -3.9%, BRKS -3.8%, AVTR -3.8%, TDC -3.5%, SGEN -3.4%, DLX -3.3%, VCRA -3.1%, HBI -2.8%, ZEN -2.7%, WYNN -2.4%
Other news:
- ZGNX -29.1% (announces results from Phase 3 Trial of FINTEPLA for L-G Syndrome)
- ACB -16.2% (CEO steps down, preannounces soft Q2 results)
- ADMA -10% (upsizes and prices offering of 23.5 mln shares of common stock at $3.50 per share)
- RAPT -10% (prices its underwritten public offering of 2,500,000 shares of common stock at a public offering price of $30.00/share)
- EBAY -6.7% (ICE will no longer explore opportunities with eBay )
- CRBP -6.4% (stock offering)
- VFC -1.7% (says coronavirus will impact its financial results in the Asia Pacific region in the near term, VF's growth opportunity in China and across the Asia Pacific region is significant and the fundamentals of our business are strong)
- CS -1.5% (has unanimously accepted the resignation of Tidjane Thiam and appointed Thomas Gottstein as the new CEO of CS)
- HEXO -1.5% (changed its auditor from MNP LLP to PricewaterhouseCoopers LLP effective January 31, 2020)
- MLCO -1.2% (to focus on core operations as a result of global health emergency and impact of restrictions on visitor travel to Macau; will not pursue its planned investment in Australia for the second tranche of shares in Crown Resorts Limited)
Analyst comments:
- I -9.1% (downgraded to Underweight from Neutral at JP Morgan)
- MRVL -3.9% (downgraded to Underperform from Outperform at Cowen)
- GRUB -2.6% (downgraded to Underperform from Neutral at DA Davidson)
- BDX -0.6% (downgraded to Outperform from Strong Buy at Raymond James)
- F -0.5% (downgraded to Neutral from Outperform at Credit Suisse)
