Gapping down
In reaction to disappointing earnings/guidance:
- WHD -4.5%, (also provides prelim Q2 expectations with revs of $136.0-139.0 mln vs. $126.60 mln Capital IQ Consensus Estimate, net income of $40.6-42.4 mln, Adjusted EBITDA of $54.0 -56.0 mln; is selling 10,000,000 shares of Class A common stock)
- TSM -1.9%, (June Revs)
Other news:
- DAC -4% (files for 99,342,271 share common stock offering by selling shareholders)
- DEPO -2.6% (is currently engaged in settlement discussions with Purdue Pharma in connection with ongoing patent infringement litigation)
- LOXO -2.1% (attributed to block trade pricing)
- ADMP -1.8% (files for $150 mln mixed securities shelf offering)
Analyst comments:
- APTI -2.1% (downgraded to Sector Weight from Overweight at KeyBanc Capital Mkts)
- CERN -2% (downgraded to Underperform from In-line at Evercore ISI)
- TEX -1.8% (downgraded to Underperform from Neutral at Robert W. Baird)
- WMGI -1.7% (downgraded to Market Perform from Outperform at BMO Capital Markets)
- BIIB -1.6% (downgraded to Neutral from Outperform at Robert W. Baird )
- EBAY -1.6% (downgraded to Hold from Buy at SunTrust)
- CMG -1.3% (downgraded to Underperform from Neutral at Mizuho)
- JWN -1.1% (downgraded to Sector Weight at KeyBanc Capital Mkts)
- AMT -1% (downgraded to Neutral from Overweight at JP Morgan)
- URBN -0.8% (downgraded to Sector Weight at KeyBanc Capital Mkts)
- SQ -0.7% (assumed/downgraded at Perform (from Outperform) at Oppenheimer)
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