>>> US Gapping Down

Gapping down
In reaction to disappointing earnings/guidance
: SPHS -18.5%, DKS -15.3%, URBN -14.7%, CADC -7.7%, MDR -2.9%, (released presentation for today's Investor conference with FY16 outlook), A -2.2%, NWL -0.8%

M&A news: ANGI -9.8% (Board unanimously determines not to pursue the unsolicited proposal from IAC/InterActiveCorp)

Select metals/mining stocks trading lower: VALE -3.8%, KGC -2.7%, GFI -2.2%, RIO -1.2%, AUY -1%, GOLD -0.7%

Other news: KBIO -17.4% (cont volatility pre-mkt), VIRT -14.1% (still checking), ANBG -9.3% (cont weakness), INFY -2.8% (still checking), SYF -2.5% (GE says offer to exchange shares of GE common stock for shares of Synchrony Financial (SYF) was 3.2x oversubscribed; Completion reduces ENI by $65 bln), SUNE -1.5% (cont pre-mkt volatility), BHP -1.1% (confirms that Samarco signed a Preliminary Commitment with Brazilian prosecutors in connection with the State of Minas Gerais), EQIX -0.8% ( to offer ~$750 mln of its common stock in a public offering)

Analyst comments: OSIR -10.7% (downgraded to Sell from Hold at Brean Capital), CLVS -6.9% (downgraded to Neutral at Goldman; tgt to $23 from $123), ATHN -2.8% (downgraded to Underweight at Barclays), CHK -2.5% (downgraded to Neutral from Buy at Sterne Agee CRT), COO -2.1% (downgraded to Market Perform from Outperform at Wells Fargo)