Gapping down
In reaction to disappointing earnings/guidance:
- SLP -7.9%, WDFC -5.9%, DHR -3%, BDC -2.4%, TXG -1.4%, FOXF -0.9%
Other news:
- EXP -10.1% (provides business updates related to the COVID-19 pandemic; futures dividends to be suspended)
- BURL -6.2% (temporarily furloughed most store and distribution center associates and commenced $700 mln offering of convertible notes)
- RCL -3.8% (CDC announces modifications and extension of no sail order for all cruise ships)
- CCL -2.5% (CDC announces modifications and extension of no sail order for all cruise ships)
- RDFN -2.3% (new listings for the week ending April 3 are down 44% (down 33% prior week); no indication this trend will reverse anytime soon)
- PLNT -1% (determined it would implement a temporary furlough of all of its in-store staff at each of its corporate store locations)
Analyst comments:
- NXPI -3.1% (downgraded to In-line from Outperform at Evercore ISI)
- FLWS -2.5% (downgraded to Neutral from Buy at DA Davidson)
- BDC -2.4% (downgraded to Sell from Neutral at Goldman)
- CAT -2% (downgraded to Underperform from Neutral at BofA/Merrill)
- DE -1.9% (downgraded to Neutral from Outperform at Robert W. Baird)
- TXN -1.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- MU -1.8% (downgraded to Neutral from Buy at Goldman)
- ETN -1.2% (downgraded to Neutral from Overweight at JP Morgan)
- SYK -1.2% (downgraded to Underweight from Equal Weight at Barclays)