Gapping down
In reaction to disappointing earnings/guidance:
- POL -6.7%, BK -4.6%, IBM -2.7%, SBNY -1.9%, HWC -0.9%
M&A news:
- S -7% (T-Mobile US and Sprint trade lower on WSJ report suggesting unlikely DOJ merger approval)
- TMUS -3.5%
Other news:
- ARNC -3.3% (attributed to block trade pricing)
- APHA -2.3% (proposes private offering of US$300 mln convertible senior notes due 2024 )
- NTRA -1.1% (files for $100 mln common stock shelf offering)
- FNKO -0.6% (light volume; announces that CFO Russell Nickel will step down by the end of 2019)
Analyst comments:
- CEVA -3.5% (downgraded to Neutral from Outperform at Exane BNP Paribas)
- CRON -1.8% (initiated with an Underperform at BofA/Merrill)
- SHAK -1.7% (downgraded to Neutral from Buy at Longbow)
- CMG -1.3% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- SWKS -1.3% (downgraded to Neutral from Outperform at Macquarie )
- ON -1.1% (downgraded to Neutral from Buy at Longbow)
- CBPX -0.8% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)
- TPH -0.7% (downgraded to Neutral from Positive at Susquehanna)
- CB -0.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- DHI -0.6% (downgraded to Neutral from Positive at Susquehanna)
- PYPL -0.6% (downgraded to Neutral from Buy at UBS)
- CMA -0.5% (downgraded to Outperform from Strong Buy at Raymond James)
- TXN -0.5% (downgraded to Neutral from Buy at Longbow)