Gapping down
In reaction to disappointing earnings/guidance: ECR -16.6%, DRWI -11.1%, CONN -10.1%, (reports February total same store sales fell 5.8% y/y; 60-plus day delinquency rate of 9.2%), PCOM -9.8%, MOMO -7.4%, SMTC -6.1%, ERJ -5%, WTI -4.1%, CCRN -4%, JOY -4%, HRB -3.9%, ALIM -2.1%, ACHN -2.1%, CPE -1.3%, CNQ -1.3%, ALSK -1.2%
M&A news: ABBV -5.1% (to acquire PCYC transaction valued at $261.25 pershare)
Other news: VNDA -6.9% (announces top-line results of the Phase II proof of concept clinical study investigating the safety and efficacy of tradipitant as a monotherapy in the treatment of chronic pruritus in patients with atopic dermatitis), ECA -4.1% (announces agreement with underwriters syndicate, for bought deal purchase of ~85.62 mln common shares of its common stock for C$14.60/share; ~C$1.25 billion in gross proceeds expected ), NSR -4.1% (releases statment on the LNPA Vendor Selection), ARI -3.3% (announces public offering of 10 mln shares of common stock), COMM -2.2% (files for common stock offering by selling shareholders; announces sale of 20 mln shares of common stock an affiliate of the Carlyle Group), CNHI -1.1% (in sympathy with JOY earnings), CAT -0.9% (in sympathy with JOY earnings)
Analyst comments: SALT -3.6% (downgraded to Neutral from Outperform at Credit Suisse), ANF -2% (downgraded to Neutral from Buy at Nomura), QSR -1.9% (downgraded to Neutral from Buy at Goldman), MPEL -1.5% (downgraded to Neutral from Overweight at HSBC Securities), MCD -0.8% (downgraded to Neutral from Overweight at Piper Jaffray), INXN -0.8% (downgraded to Hold from Buy at Canaccord Genuity)
In reaction to disappointing earnings/guidance: ECR -16.6%, DRWI -11.1%, CONN -10.1%, (reports February total same store sales fell 5.8% y/y; 60-plus day delinquency rate of 9.2%), PCOM -9.8%, MOMO -7.4%, SMTC -6.1%, ERJ -5%, WTI -4.1%, CCRN -4%, JOY -4%, HRB -3.9%, ALIM -2.1%, ACHN -2.1%, CPE -1.3%, CNQ -1.3%, ALSK -1.2%
M&A news: ABBV -5.1% (to acquire PCYC transaction valued at $261.25 pershare)
Other news: VNDA -6.9% (announces top-line results of the Phase II proof of concept clinical study investigating the safety and efficacy of tradipitant as a monotherapy in the treatment of chronic pruritus in patients with atopic dermatitis), ECA -4.1% (announces agreement with underwriters syndicate, for bought deal purchase of ~85.62 mln common shares of its common stock for C$14.60/share; ~C$1.25 billion in gross proceeds expected ), NSR -4.1% (releases statment on the LNPA Vendor Selection), ARI -3.3% (announces public offering of 10 mln shares of common stock), COMM -2.2% (files for common stock offering by selling shareholders; announces sale of 20 mln shares of common stock an affiliate of the Carlyle Group), CNHI -1.1% (in sympathy with JOY earnings), CAT -0.9% (in sympathy with JOY earnings)
Analyst comments: SALT -3.6% (downgraded to Neutral from Outperform at Credit Suisse), ANF -2% (downgraded to Neutral from Buy at Nomura), QSR -1.9% (downgraded to Neutral from Buy at Goldman), MPEL -1.5% (downgraded to Neutral from Overweight at HSBC Securities), MCD -0.8% (downgraded to Neutral from Overweight at Piper Jaffray), INXN -0.8% (downgraded to Hold from Buy at Canaccord Genuity)