Gapping down
In reaction to disappointing earnings/guidance: GIMO -31.5%, TCS -14.3%, SIMG -10%, MSM -3.6%, BOBE -1.2%, IMOS -0.9%.
Other news: PT -6.1% (reports of debt deal scrutiny), SLXP -4.2% (to combine with Cosmo Technologies; upon completion of the merger, shareholders of Salix are expected to own slightly less than 80% of the ordinary shares of the new company), RARE -2.6% (Pharma prices 2,017,349 shares of common stock at $40.00 per share), NURO -2.6% (cont strengh from yesterday), CELG -2.1% (Phase III POSTURE study did not achieve primary endpoint), RAX -1.4% (following late move higher on increased volume), LOGM -1.3% ( attributed to cautious Off Wall Street report), CLUB -0.8% (disclosed an amendment to property sale agreement to permit Purchaser additional time to complete its financing).
Analyst comments: POT -2.7% (downgraded to Neutral from Overweight at JP Morgan), MRVL -2.7% (downgraded to Underperform from Perform at Oppenheimer), GRMN -2% (downgraded to Underperform from Sector Perform at Pacific Crest), ALV -1.7% (downgraded to Hold at Nordea), VMW -1.3% (downgraded to Market Perform from Outperform at Wells Fargo), COH -1.2% (downgraded to Underperform from Neutral at Buckingham Research), LPX -1% (downgraded to Sector Perform at RBC Capital Mkts), PCL -0.8% (downgraded to Sector Perform at RBC Capital Mkts).
Other news: PT -6.1% (reports of debt deal scrutiny), SLXP -4.2% (to combine with Cosmo Technologies; upon completion of the merger, shareholders of Salix are expected to own slightly less than 80% of the ordinary shares of the new company), RARE -2.6% (Pharma prices 2,017,349 shares of common stock at $40.00 per share), NURO -2.6% (cont strengh from yesterday), CELG -2.1% (Phase III POSTURE study did not achieve primary endpoint), RAX -1.4% (following late move higher on increased volume), LOGM -1.3% ( attributed to cautious Off Wall Street report), CLUB -0.8% (disclosed an amendment to property sale agreement to permit Purchaser additional time to complete its financing).
Analyst comments: POT -2.7% (downgraded to Neutral from Overweight at JP Morgan), MRVL -2.7% (downgraded to Underperform from Perform at Oppenheimer), GRMN -2% (downgraded to Underperform from Sector Perform at Pacific Crest), ALV -1.7% (downgraded to Hold at Nordea), VMW -1.3% (downgraded to Market Perform from Outperform at Wells Fargo), COH -1.2% (downgraded to Underperform from Neutral at Buckingham Research), LPX -1% (downgraded to Sector Perform at RBC Capital Mkts), PCL -0.8% (downgraded to Sector Perform at RBC Capital Mkts).