Gapping down
In reaction to disappointing earnings/guidance:
- CBLK -17.8% (also CFO Mark Sullivan resigns), SATS -15.2%, SPTN -11.3%, VIPS -8.8%, LASR -8.2%, MIC -7.4%, FTI -7%, FLS -6.8%, DPZ -6.8%, EVTC -5.4%, XPER -5%, CONE -4.1%, ATR -3.3%, BG -3.2%, EFX -2.9%, SM -2.7%, WEN -2.7%, NUVA -2.5%, DLPH -2.5%, IAG -2.4%, XEC -1.9%, SAIL -1.9% (postpones Q4 release/call due to accelerated implementation of ASC 606; expects to exceed the high end of prior Q4 guidance on an ASC 605 basis), TS -1.9%, ICLR -1.9%, OR -1.9%, ORAN -1.9%, BRC -1.8%, VG -1.7%, PI -1.6%, TYL -1.5%, PAAS -1.4%, SUN -1.2%, A -1.1%, NDSN -1%, MUX -1%
M&A news:
- NAVI -6.4% (Navient notifies that Canyon Capital has withdrawn its initial expression of interest in acquiring Navient and announced an intention to propose an independent minority slate of Navient directors)
Select metals/mining stocks trading lower:
- OR -1.9%, PAAS -1.4%, GOLD -1.2%, SLV -1.1%, BHP -1%, GDX -1%
Other news:
- CGC -3% (files amended and restated Q3 MD&A)
- JNJ -2.4% (disclosed it received subpoenas related to talc investigation; co will cooperate with these inquiries by producing the requested information)
- NKE -1.7% (NCAA basketball player Zion Williamson of Duke University suffers injury early into last night's game as a result of his Nike shoes seemingly breaking apart)
- VALE -0.7% (announces signing of preliminary agreement for indemnifications)
Analyst comments:
- GFI -3% (downgraded to Neutral from Overweight at JP Morgan)
- SSTI -2.1% (downgraded to In-line at Imperial Capital)
- BIIB -1.4% (downgraded to Hold from Buy at Stifel)
- GRMN -1.3% (downgraded to Neutral from Buy at Longbow)
- BDC -0.8% (downgraded to Neutral from Buy at Longbow)