Gapping down
In reaction to disappointing earnings/guidance:
- VRNS -25%, BRS -16.7% (also terminates acquisition, announces CEO retirement), LABL -16.4% (also Board is exploring strategic alternatives), VECO -13.6%, ELVT -8.2%, CMP -6.9%, TAP -6.4% (Audit Committee concludes that the previously issued consolidated financial statements as of and for the years ended December 31, 2017 and December 31, 2016 should be restated and no longer be relied) LTHM -5.1%, AMKR -4.5%, SHOP -4.2%, OHI -4%, MGI -3.1%, FARM -2.1%, ACB -1.7%, SCCO -1.3%, HUN -1%
Other news:
- NKTR -5.7% (indicated lower after abstract on NKTR-214 + nivolumab in first-line advanced/metastatic urothelial carcinoma was released; will host call on Feb 15)
- MITT -3.4% (prices offering of 7 mln common shares for estimated gross proceeds of $145 mln)
- PMT -2.9% (PennyMac Mortgage announces underwritten public offering of 7.0 mln common shares)
- GILD -2.7% (Gilead Sciences announces that top-line data from Phase 3 STELLAR-4 study did not meet the primary endpoint)
- NMFC -2.7% (prices 3.75 mln common stock offering at $13.57/share)
- USAT -2.7% (files to delay its 10-Q due to previously disclosed restatement plans)
- ABEO -1.5% (appoints João Siffert, M.D. as CEO, effective immediately)
Analyst comments:
- TTWO -2.6% (downgraded to Underperform from Market Perform at BMO Capital Markets)
- SOGO -1.5% (downgraded to Neutral from Buy at Goldman)
- CSCO -1.1% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- FAST -0.8% (downgraded to Sector Weight from Overweight at KeyBanc Capital Markets)
