Gapping down
In reaction to disappointing earnings/guidance:
- SONC -8.2%, AVAV -6%, CAG -5.2%, CGC -3.2%
M&A news:
- CAG -5.2% (Acquiring Pinncle Foods (PF) for $10.9 bln in cash and stock)
- PF -3.6% (Acquired by ConAgra for $43.11 in cash plus 0.6494 shares of CAG)
Other news:
- AQXP -80.7% (Phase 3 LEADERSHIP 301 clinical trial evaluating AQX-1125 for the treatment of interstitial cystitis/bladder pain syndrome failed to meet its primary endpoint) SMMT -76.3% (PhaseOut DMD has not met its primary or secondary endpoints after 48 weeks of treatment of ezutromid in patients with DMD)
- DRRX -19.0% (Pain Therapeutics reports the FDA Advisory Committee voted 14 to 3 against the approval of REMOXY ER for the management of pain)
- CNXM -10.3% (CNX Midstream Partners commences offering of 5 mln common units representing limited partner interests in the Partnership by NBL Midstream -subsidiary of Noble Energy)
- FOLD -7% (received written guidance from the CHMP Scientific Advice Working Party)
- SBLK -7% (commences secondary public offering of 5 mln shares of common stock by selling shareholder, Oaktree Capital Management )
- GBT -3.8% (Postive top-line data from Part A Phase 3 HOPE study of Voxelotor in Sickle Cell Disease)
- TUSK -1.8% (announces underwritten public offering of 4 mln shares of common stock by selling shareholders), .
Analyst comments:
- GMED -2.5% (downgraded to Underperform at BAML)
- NUVA -2.2% (downgraded to Underperform at BAML)
- CEQP -1.4% (downgraded to Neutral from Buy at Goldman)