Gapping down
In reaction to disappointing earnings/guidance:
- TSM -1.5% (reports November net revenues -3.1% YoY to NT98.389 bln).
Other news:
- AXON -26.9% (topline results of phase 2 clinical study of nelotanserin for the treatment of REM sleep behavior disorder in patients with Lewy body dementia -- primary efficacy endpoint was not met)
- MGNX -16.9% (announces partial clinical hold on MGD009 Phase 1 Studies)
- TVTY -6.4% (Tivity Health (TVTY) to acquire NTRI for $1.3 billion in cash and stock; transaction values NTRI at an enterprise value or $47.00/share)
- INFY -4.4% (Sensex down 2% overnight)
- TTM -3.6% (global wholesales at 1,04,964 in November 2018, down 7% YoY)
- IBN -3.5% (Sensex down 2% overnight)
- TEVA -2.2% (Washington Post report of expanded scale of investigation into generic-drug companies)
Analyst comments:
- VC -3.8% (downgraded to Sell from Neutral at Goldman)
- NAV -3.7% (downgraded to Sell from Neutral at Goldman)
- GVA -2.4% (downgraded to Neutral from Buy at Goldman)
- OSK -2.3% (downgraded to Sell from Neutral at Goldman)
- SWKS -1.5% (downgraded to Sector Weight from Overweight at KeyBanc Capital Mkts)
- FDX -1.2% (downgraded to Neutral from Buy at BofA/Merrill)
- WRK -1.2% (downgraded to Neutral from Buy at Goldman)
- CMA -0.7% (downgraded to Neutral from Buy at B. Riley FBR)
- DVN -0.7% (downgraded to In-line from Outperform at Evercore ISI)