Gapping down
In reaction to disappointing earnings/guidance:
- LITE -5% (lowers Q4 guidance following Commerce Department order and discontinuation of sales to Huawei) PDD -3.1%, AZZ -1.2%
Select tech/semiconductor related names showing weakness:
- STM -6.5%, XLNX -5.2%, QCOM -4.9%, AVGO -4.3%, MU -3.9%, ADI -3.3%, AMAT -3%, NVDA -3%, ASML -3%, INTC -2.5%, AMD -2.3%, .
Select China related names showing early weakness:
- BABA -2.4%, WB -2.4%, HUYA -2.4%, JD -2.4%, BIDU -2%.
Other news:
- LYFT -2.4% (cautious view in Barrons)
- UBER -2.1% (cautious view in Barrons)
- UAL -1.1% (in sympathy with AAL downgrade)
- PRGO -1.1% (contimued weakness)
Analyst comments:
- MIK -4.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- TSLA -4% (target lowered to $230 from $275 at Wedbush)
- KEYS -3.6% (downgraded to Neutral from Outperform at Robert W. Baird)
- AAL -3% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- EV -2.4% (downgraded to Underperform from Buy at BofA/Merrill)
- DAL -1.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- SPN -1.2% (downgraded to Underweight from Equal Weight at Barclays)