Gapping down
In reaction to disappointing earnings/guidance:
- CREE -3.5%, (reaffirms outlook and announces retirement of Executive Vice President and CFO Mike McDevitt), AVGO -2.5%, TSM -1.6%, (May sales), HOME -1.4%, .
Select APPL supply/related names showing weakness:
- STM -1.5%, CRUS -1.4%, SMH -1%, FNSR -0.5%
Other news:
- MVIS -7% (proposes public offering of up to $18 mln of common stock - appointed Sumit Sharma to the newly created position of Chief Operating Officer)
- ADMA -3.8% (commenced an underwritten public offering of its common stock)
- ZS -3.5% (modestly pulling back following today's 23% move higher)
- LITE -2.6% (announces resignation of CFO Aaron Tachibana effective August 31; appoints Chris Coldren interim CFO)
- EXAS -1.6% (commences $150 mln offering of its 1.0% convertible senior notes due 2025)
- AAPL -1.1% (article related to 20% drop in new iPhone part orders)
- VZ -0.7% (outlines CEO succession plan)
Analyst comments:
- CXO -6% (downgraded to Mkt Perform from Outperform at Bernstein)
- DPZ -1.2% (downgraded to Hold from Buy at Maxim Group)
- SIEN -0.5% (downgraded to Hold from Buy at Maxim Group)