Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- MU -9.2%, (also announces restructuring plan, expects to incur charges of $70 million)
- FC -2.5%
Select Semi conductor names showing weakness in sympathy with MU: ARMH -2.4%, WDC -1.8%, ASML -1.5%
Other news:
Other news:
- CJES -10.3% ( announces agreement in principle with its secured lenders on the key aspects of a proposed restructuring transaction)
- CVRR -7.1% (provides update on Coffeyville refinery operations; Rates still below normal due to Magellan pipeline issues)
- ARNA -6.4% (announces strategic shifting of priorities, will reduce workforce by 73% )
- OSUR -6.1% (OraSure and AbbVie (ABBV) terminate their master program services and co-promotion agreement for the OraQuick HCV Rapid Antibody Test in the US)AXAS -4.4% (Abraxas Petroleum confirms filing of $200 mln universal shelf Registration Statement, files acquisition shelf Registration Statement on Form S-4)
- TSLA -2.3% (reports of NHTSA investigation following a fatal-crash while a car was being operated in self-driving mode),TSRO -1.7% (prices offering of 4,650,000 shares of common stock at an offering price of $81.00 per share)
- MBLY -1.6% (reports of NHTSA investigation following a fatal-crash while a car was being operated in self-driving mode)
- BHP -1.6% (Superior Court of Justice in Brazil issued an interim order suspending the decision of the Federal Court of Appeal to ratify the Framework Agreement from Nov 2015),
- VALE -1%
- RIO -1% (may be in sympathy with BHP)
Analyst comments:
- SCTY -1.9% (downgraded to Neutral from Outperform at Credit Suisse)
- SWKS -1.4% (downgraded to Neutral from Buy at Mizuho)
- QCOM -1.1% (downgraded to Hold from Buy at Evercore ISI)