Gapping down
In reaction to disappointing earnings/guidance:
- PSTG -18%, SSL -11.8% (updates guidance for Lake Charles Chemical Project following review process to assess the project costs and schedule) JWN -10.4%, LOW -7.9%, VFC -6.4%, URBN -5.6% (also announces launch of subscription rental apparel service Nuuly), TOL -5%, IPHI -2%, CNF -1.7%, ADI -1.4%, DEO -1% (expects to maintain organic net sales growth in the mid-single digit range and to grow organic operating profit ahead of net sales in the range of 5-7%)
Other news:
- TOCA -28.6% (Toca 5 Phase 3 clinical trial to continue without modification)
- EKSO -25.8% (announces proposed public offering of common stocks and warrants)
- ONCS -25% (to make public offering of common stocks and warrants)
- LIQT -13.8% (prices 1,931,035 shares of its common stock at $7.25/share)
- QCOM -11.4% (US District Judge Lucy Koh has ruled QCOM's practices violate antitrust regulations, according to WSJ)
- EXPR -4.3% (likely in sympathy with retail names URBN and JWN)
- G -1.8% (launches public offering of 10.0 mln shares by certain shareholders, consisting of entities affiliated with Bain Capital Investors and co-investor GIC Private Limited),
- INSM -1.6% (prices offering of 9,615,385 shares of its common stock at a price to the public of $26.00 per share)
- CDAY -1.5% (prices upsized public offering of 4.2 mln shares of its Class A common stock at a price to the public of $65.00 per share)
Analyst comments:
- ATVI -1.7% (downgraded to Equal-Weight from Overweight at Stephens)