Gapping down
In reaction to earnings/guidance:
- NGL -15%, PD -4%, SUMO -1.1%, MXL -0.9%
Other news:
- AMC -7.2% (continued volatility; released share count and preliminary proxy statement ahead of Shareholder Meeting)
- PSTH -6.8% (confirms discussions to acquire 10% of Universal Music Group for $4 bln)
- BOX -1.7% (sent letter to Starboard Value's counsel in response to demand for inspection of the books and records of the company)
- ZIM -1.2% (prices secondary offering of 6.975 mln shares of common stock at $40.00 per share)
Analyst comments:
- BRFS -2.6% (downgraded to Neutral from Buy at BofA Securities)
- GO -1.8% (downgraded to Hold from Buy at Jefferies)
- ING -1.6% (downgraded to Underweight from Equal Weight at Barclays)
- ASB -1.1% (downgraded to Equal Weight from Overweight at Wells Fargo)
- PNR -0.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- ADS -0.7% (downgraded to Neutral from Buy at BofA Securities)