Gapping down
In reaction to disappointing earnings/guidance:
- CAMT -4.2%, FAST -4%, BRK.B -1.8%, TSN -1.5%
Select chip/tech related names showing weakness:
- STM -4.4%, MU -4.1%, MRVL -3.8%, AMD -3.8%, NVDA -3.7%, SWKS -3.4%, QCOM -3.3%, AMAT -3.2%, AAPL -2.9%, WDC -2.8%, TXN -2.3%
Select China related names showing early weakness:
- CSIQ -7.4%, BZUN -6.2%, JKS -6.1%, VIPS -6.1%, MOMO -5.6%, WB -5.5%, YY -5.5%, TAL -5%, HTHT -4.8%, JD -4.8%, BABA -4.5%, WYNN -4.3%, EDU -4%, CTRP -4%, SINA -4%, BIDU -3.7%, FCX -3.3%, CMCM -3.2%, CAT -3%
Other news:
- CYTK -19.2% (presents results of FORTITUDE-ALS -- did not achieve statistical significance for a pre-specified dose-response relationship in its primary endpoint)
- MT -5.8% (to temporarily reduce annualised European primary steelmaking production by three mln tonnes)
- ACAD -5.7% (files for 40,203,111 share common stock offering - includes 489,269 shares issuable upon the exercise of warrants by the selling stockholders)
- ALGN -3.5% (provides update on patent infringement case against 3Shape)
- ASML -2.9% (US court issues final judgment in favor of ASML against XTAL; $845 mln awarded will be uncollectable, but ASML will own XTAL IP)
- BA -2.8% (WSJ report Boeing knew about 737 Max safety alert issue for a year)
- FB -2.2% (renews criticism of alleged social media censorship)
- OXY -1.5% (Occidental Petroleum (OXY) submits revised proposal to acquire Anadarko for $76.00/share; also reported earnings)
- KHC -1% (restate series of previous consolidated financial statements and related disclosures)
Analyst comments:
- PCAR -2.7% (downgraded to Neutral from Buy at Longbow)
- EXPE -2.6% (downgraded to Neutral from Buy at BofA/Merrill)
- FIVE -2.5% (downgraded to Equal Weight from Overweight at Barclays)
- MTOR -1.2% (downgraded to Neutral from Buy at Longbow)