Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- PSDO -8.1%, CMP -7.9%, (Compass Minerals lowers FY18 EPS guidance to $2.50-2.80, vs. $3.04 Capital IQ Consensus Est, down from $3.00-3.50 prior guidance after reports short-term production constraints at Goderich Mine ), FINL -6.8%, RVLT -3.8%, (guidance)
Other news:
- VSAR -84.7% (Versartis announces Phase 3 VELOCITY trial of somavaratan in pediatric growth hormone deficiency did not meet primary endpoint; plan to provide a corporate update later this year )
- FALC -22.1% (Nasdaq will suspend trading in its shares effective at the open of business on September 25; shares will be quoted on the OTC Markets' OTCQB)
- UPL -12.1% (confirms bankruptcy court denied the Co's objection to certain make-whole and post-petition interest claims)
- VERI -6% (pulling back frollowing recent strength)
- GRUB -5.7% (following news that Wal Mart (WMT) is testing a new food delivery service (see 8:02) and that Amazon (AMZN) plans to partner to Olo for online food ordering)
- ICPT -4% (continued weakness)
Analyst comments:
- RMBS -4% (downgraded to Neutral from Overweight at JP Morgan)
- X -3.5% (downgraded to Underperform from Market Perform at Cowen)
- EXEL -3.5% (downgraded to Mkt Perform from Outperform at Leerink Partners)
- TIF -1.1% (downgraded to Neutral from Buy at Goldman)