Gapping down
In reaction to disappointing earnings/guidance:
- TLRD -21%, CLDR -13.4%, NNBR -11.6%, KINS -7.7%, SMTC -6.3%, SFS -6.3%, DG -5.9%, GCO -5.8%, VKTX -3.3% (also additional VK2809 Phase 2 data to be presented at EASL 2019; results demonstrate promising efficacy at doses as low as 5 mg daily), GE -2% (guidance update), GDS -1.8% (also announces a $150 mln equity investment by China Ping An), HUD -1.5%, BAK -0.7%
Other news:
- LGCY -17.3% (announces review of strategic alternatives; continues to work with the administrative agent/lenders extend the maturity of its credit facility)
- AXGT -9.7% (prices offering of 26,666,667 of its common shares at $1.50/share)
- GMRE -9.5% (commences public offering of common stock; size not disclosed)
- EGAN -2.9% (announces proposed public offering of common stock)
- GME -2.8% (shareholders Hestia Capital Partners and Permit Capital send letter to the Board expressing their shared concerns regarding the 'dramatic underperformance' of the Company's stock)
- GDS -1.8% (launches $400 mln proposed public offering of ADSs)
- MUX -1.7% (announces voluntary termination of equity distribution agreement)
- EQC -1.6% (authorizes repurchase of $150 mln of its outstanding common shares)
- FB -1.5% (data deals are under criminal investigation, according to NY Times)
Analyst comments:
- LXRX -3.3% (downgraded to Sell from Hold at Gabelli)
- SMLP -2.9% (downgraded to Underperform from Outperform at Credit Suisse)