Gapping down
In reaction to disappointing earnings/guidance:
- SGH -8.2%, COST -1.4%
Other news:
- OVID -17.1% (proposes concurrent public offerings of common stock and preferred stock)
- HRTX -8.1% (prices public offering of 8,571,429 shares of its common stock at a price of $17.50 per share)
- HPQ -6% (sees FY20 EPS in line; to eliminate 7-9K jobs; restructuring plan to result in annualized gross run rate savings of about $1.0 bln by the end of FY22; authorizes $5 bln share repurchase program and raises dividend by 10%)
- WLL -3% (downgraded to Underperform from Neutral at Credit Suisse)
- TERP -2.9% (announces public offering of Class A common stock and concurrent private placement; also files mixed securities shelf offering)
- ACAD -0.8% (announces late-breaking oral presentation of Phase 3 HARMONY pimavanserin data at CTAD 2019)
- RRC -0.6% (downgraded to Neutral from Outperform at Credit Suisse)
Analyst comments:
- AR -2.8% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- PODD -1.8% (downgraded to Neutral from Buy at UBS)
- CSX -0.9% (downgraded to Neutral from Overweight at JP Morgan)
- TXRH -0.7% (downgraded to Equal Weight from Overweight at Barclays)