Gapping down
In reaction to disappointing earnings/guidance: MEI -19.4%, BBBY -2%
M&A news: ISSI -2.3% (Cypress Semiconductor (CY) increases offer to acquire ISSI to a price of $22.60 per share, says it is its best and final offer; stock closed at $23.54), SYT -1.1% (cont vol surrounding M&A uncertainty with MON)
Other news: MCP -35.9% (files Chapter 11 bankruptcy; Will complete restructuring of $1.7 bln of debt for U.S., Canadian operations, obtains agreement for up to $225 mln in new DIP financing), CREE -7.6% (announces LED business restructuring, $500 million stock buyback authorization and fiscal year 2016 annual operating plan), SBRA -4% (prices offering of 5,900,000 shares of common stock; expected to result in gross proceeds to Sabra of ~$149 mln), SEMI -3.1% (prices offering of 15,935,828 ordinary shares on behalf of selling shareholders at $18.25 per share ), ALDR -2.1% ( announces an offering of $200 mln in common stock ), EYES -1.4% (appoints Will McGuire as President and CEO effective August 18, 2015),IPXL -0.8% ( announces a private offering of $500 mln in convertible senior notes due 2022 )
Analyst comments: WRLD -19% (downgraded to Mkt Perform from Outperform at FBR Capital; tgt lowered to $73 from $98), TNK -2.7% ( downgraded to Sell from Neutral at UBS), CHK -1.5% (downgraded to Sell from Neutral at UBS), NFLX -0.9% (downgraded to Neutral from Buy at Citigroup), AMZN -0.7% (downgraded to Hold from Buy at Evercore ISI ), CTL -0.6% (downgraded to Neutral from Overweight at JP Morgan), MUR -0.5% (downgraded to Sell from Neutral at UBS)
In reaction to disappointing earnings/guidance: MEI -19.4%, BBBY -2%
M&A news: ISSI -2.3% (Cypress Semiconductor (CY) increases offer to acquire ISSI to a price of $22.60 per share, says it is its best and final offer; stock closed at $23.54), SYT -1.1% (cont vol surrounding M&A uncertainty with MON)
Other news: MCP -35.9% (files Chapter 11 bankruptcy; Will complete restructuring of $1.7 bln of debt for U.S., Canadian operations, obtains agreement for up to $225 mln in new DIP financing), CREE -7.6% (announces LED business restructuring, $500 million stock buyback authorization and fiscal year 2016 annual operating plan), SBRA -4% (prices offering of 5,900,000 shares of common stock; expected to result in gross proceeds to Sabra of ~$149 mln), SEMI -3.1% (prices offering of 15,935,828 ordinary shares on behalf of selling shareholders at $18.25 per share ), ALDR -2.1% ( announces an offering of $200 mln in common stock ), EYES -1.4% (appoints Will McGuire as President and CEO effective August 18, 2015),IPXL -0.8% ( announces a private offering of $500 mln in convertible senior notes due 2022 )
Analyst comments: WRLD -19% (downgraded to Mkt Perform from Outperform at FBR Capital; tgt lowered to $73 from $98), TNK -2.7% ( downgraded to Sell from Neutral at UBS), CHK -1.5% (downgraded to Sell from Neutral at UBS), NFLX -0.9% (downgraded to Neutral from Buy at Citigroup), AMZN -0.7% (downgraded to Hold from Buy at Evercore ISI ), CTL -0.6% (downgraded to Neutral from Overweight at JP Morgan), MUR -0.5% (downgraded to Sell from Neutral at UBS)