Gapping down
In reaction to disappointing earnings/guidance:
- HSBC -1%, (provides strategy update; targets ROTE greater than 11% by 2020)
Select metals/mining stocks trading lower:
- AU -4.6%, GFI -2.2%, SBGL -2.1%, HMY -1.9%
Other news:
- GNW 29.1% (receives approval from CFIUS to move forward with proposed China Oceanwide and Genworth Financial transaction)
- PCG -4.7% (California Department of Forestry and Fire Protection investigators determine that 12 Northern California wildfires in the October 2017 Fire Siege were caused by electric power and distribution lines, conductors and the failure of power poles)
- LTM -3.2% (reports May passenger traffic +3.4%, capacity rose by 6.1% and load factor fell 2.1 percentage points to 80.9%)
- CIR -1.5% (announces that Colfax Corporation (CFX) has commenced an underwritten, registered secondary offering of 3,283,424 shares of CIRCOR common stock)
- SHAK -1.2% (files mixed securities shelf offering; company also registers secondary offering, from time to time, of Class A common stock of approx. 12.32 mln shares by selling stockholders)
Analyst comments:
- WLK -1% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)
- PK -1.9% (downgraded to Sell from Neutral at Goldman)
- OAS -2% (downgraded to Hold from Buy at Jefferies)
- NKTR -2.1% (downgraded to Neutral at H.C. Wainwright)
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