>>> US Gapping Down

Gapping Down
In reaction to earnings/guidance:
  • SCS -10.2%, FDX -9.8%, GIS -2.6%, WGO -1.6%
Other news:
  • BLUE -41.1% (announces the pricing of its underwritten public offering of 83,333,333 shares of its common stock at a public offering price of $1.50/share)
  • ARGX -25.2% (reports topline results from address study of Efgartigimod SC in pemphigus; address study did not meet primary or secondary endpoints)
  • GH -9.3% (announces that the FDA Advisory Panel is tentatively scheduled to review the premarket approval application for the company's Shield blood test to screen for colorectal cancer on March 28, 2024)
  • UPS -3.4% (falling in response to FDX's disappointing guidance)
  • BVS -3.0% (appoints Robert Claypoole as its President and Chief Executive Officer and member of its Board of Directors, effective January 10, 2024)
  • TEF -2.7% (confirms that panish Council of Ministers has agreed to acquire up to 10% of Telefónica's share capital)
  • CRSP -1.8% (Chief Medical Officer Phuong Khanh Morrow, M.D., FACP resigned effective as of January 26, 2024)
  • LTHM -1.6% (will replace NCR Voyix (VYX) in the S&P MidCap 400
  • STLD -1.2% (SVP sold 12,113 shares at $123.06 worth ~$1.5 mln)
  • CBRE -1.0% (files mixed shelf securities offering)
  • AON -1.0% ( to acquire NFP; total consideration estimated to be $13.4 bln at the time of close)
Analyst comments:
  • HEI -6.5% (downgraded to Underweight from Equal-Weight at Morgan Stanley; tgt lowered to $174)
  • CNK -3.2% (downgraded to Underweight from Equal Weight at Wells Fargo; tgt lowered to $13)
  • OPEN -2.9% (downgraded to Neutral from Buy at BTIG Research)
  • DOCU -2.8% (downgraded to Underweight from Equal Weight at Wells Fargo)
  • ZM -2.0% (downgraded to Underweight from Equal Weight at Wells Fargo; tgt $70)
  • CPNG -1.6% (downgraded to Neutral from Buy at UBS; tgt lowered to $18.50)
  • HAYW -1.6% (downgraded to Hold from Buy at Stifel; tgt raised to $13.50)
  • LOW -1.5% (downgraded to Hold from Buy at Stifel; tgt raised to $240)
  • FND -1.5% (downgraded to Hold from Buy at Stifel; tgt raised to $115)
  • CRM -1.4% (downgraded to Equal Weight from Overweight at Wells Fargo; tgt $280)
  • EVBG -1.4% (downgraded to Underweight from Equal Weight at Wells Fargo)