Gapping down
In reaction to disappointing earnings/guidance:
- KBH -14.8%, QMCO -8.7%, NG -7%, BB -6.8%
M&A news:
- QURE -15.8% (sells late-stage gene therapy candidate for Hemophilia B patients to CSL Behring; chatter that this deal lessens likelihood of getting acquired)
Select home builder/related names showing early weakness following KBH earnings:
- DHI -3.8%, TMHC -3.6%, LEN -3.5%, TOL -1.9%, XHB -1.2%
Other news:
- XERS -13.4% (stock offering)
- KLR -13.2% (prices offering of 7,777,778 shares of its common stock at $4.50 per share)
- EVLO -10.2% (prices offering of 12,000,000 shares of its common stock at $3.75 per share)
- MGTA -9.5% (prices offering of 7,500,000 shares of its common stock at $8.00 per share)
- TBIO -8.7% (commences public offering of $125 mln of its common stock),
- NK -8.4% (prices $80.1 mln Common Stock offering)
- BLD -4.6% (to join S&P MidCap 400)
- CSTL -2.8% (prices offering of 2,000,000 shares of its common stock at $37.00 per share)
- DIS -2.5% (DisneyLand park in California will remain closed and reopen at a later date; Downtown Disney district will reopen on July 9 )
- BRP -1.7% (prices offering of 11,500,000 shares of its Class A common stock at $13.25 per share)
- ONEM -1.7% (upsizes and prices secondary offering of 8,300,000 shares of its common stock by certain selling stockholders at $31.00 per share)
- YNDX -1.4% (prices offering of 8,121,827 newly issued Class A shares at $49.25 per Class A share)
Analyst comments:
- BA -4.6% (downgraded to Sell from Hold at Berenberg)
- IQ -4.5% (downgraded to Perform from Outperform at Oppenheimer)
- SEDG -2.4% (downgraded to Sell from Neutral at Goldman)
- HPP -1.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- VSLR -1.6% (downgraded to Neutral from Buy at Goldman)