Gapping down
In reaction to earnings/guidance:
- VRNS -33.3% (also authorizes new $100 mln share repurchase program), CTLT -13.2%, PBI -12.5%, GT -7.9%, TREX -7.1%, FLS -6.6%, SYK -6.2%, ZBRA -6.1%, RGEN -4.7%, PINC -4%, CLW -3.4%, AXNX -3.3%, HLIT -2.9%, ETRN -2.6%, ARNC -2.5%, LLY -2.1%, RHP -1.4%, LGIH -1.2%, TAP -0.9%
Other news:
- SSL -5.4% (launches offering of $750 mln guaranteed senior unsecured convertible bonds due 2027)
- NUVL -1.1% (prices offering of 6865672 shares of Class A common stock at $33.50 per share)
- JNJ -0.7% (Johnson & Johnson to acquire Abiomed (AMBD) for $380/share in cash; expected to be accretive to adj. earnings beginning in 2024)
Analyst comments:
- SYK -5.3% (downgraded to Hold from Buy at Canaccord Genuity)
- CLW -3.4% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)
- TIL -1.8% (downgraded to Market Perform from Outperform at Cowen)
- UNP -0.6% (downgraded to Underperform from Sector Perform at RBC Capital Mkts)