Gapping down
In reaction to disappointing earnings/guidance:
- PPHM -18.7%, CASY -4.3%.
Other news:
- MARA -13.7% (agreed to sell 1 mln shares of common stock for gross proceeds of approximately $5.0 mln in registered direct offering),
- ACER -8.2% (to offer and sell shares of its common stock),
- NCS -6.6% (Prices 7.15 mln common stock offering by investment funds associated with Clayton Dubilier & Rice at $19.55/share),
- OAS -3.6% (Buys 20,300 acres in the Delaware Basin for ~$946 mln, expects to divest non-core Williston Basin acreage up to $500 mln in 2018; Co separately announced that it has commenced an underwritten public offering of 32 mln shares of common stock),
- NCS -2.9% (announces secondary offering of 7,150,000 shares of common stock by investment funds associated with Clayton Dubilier & Rice),
- EIX -2.7% (Southern California Edison confirms multiple wind-driven wildfires moving through Southern California are affecting customers and electric service in Southern California Edison's service territory),
- BPMC -2.6% (commences underwritten public offering of $275 mln in shares of its common stock),
- UTL -2.1% (to offer 600k shares of common stock pursuant to an effective shelf registration statement),
- IRM -1.8% (to acquire the US operations of IO Data Centers for $1.315 billion plus up to $60 million based on future performance; commenced an underwritten public offering of 14,500,000 shares of its common stock),
- ARGX -1.8% (files for $150 mln ADS offering),
- BLUE -1.7% (commenced an underwritten public offering of $600 million of its common stock),
- H -1.7% ( indicated lower on block trade pricing).
Analyst comments:
- CASY -5.2% (downgraded to Mkt Perform from Outperform at Raymond James),
- EVTC -2.6% (downgraded to Underweight from Neutral at JP Morgan),
- MGI -2.2% (downgraded to Underweight from Neutral at JP Morgan),
- PEGI -1.9% (downgraded to Equal-Weight from Overweight at Morgan Stanley),
- BRG -1.6% (downgraded to Neutral from Buy at Janney).
