Gapping down
In reaction to disappointing earnings/guidance:
- SREV -26.4%, TXRH -10.4%, CRTO -8.6%, FUEL -7.8%, PZZA -5.3%, LMAT -4.3%, TPH -3.9%, SSNI -3.8%, DAC -3.7%, FE -3.6%, SN -3.3%
- NYMT -3.1%, IVR -3%, KALU -3%, TX -2.8%, FSLR -2.7% (also secures syndicated financing arranged by Mizuho Bank for utility-scale solar project in Ishikawa, Japan)
- CPRT -2.2%, SAND -1.7%, UTHR -1.7%, WLL -1.6%, KAR -1.5%, NEM -1.2%, MBLY -0.8%
Select EU financial related names showing weakness:
- ING -1.9%, CS -1.9%, HSBC -1.5%, DB -1.2%.
Select metals/mining stocks trading lower:
- RIO -4.5%, AU -3.5%, BBL -2.9%, BHP -2.5%, MT -2.3%, VALE -2.3%, CLF -1.1%, X -1.1%, AKS -0.8%, .
Other news:
- PKD -14.9% (commences 12 mln common stock offering and $50 mln public offering of its Series A Mandatory Convertible Preferred Stock with a liquidation preference of $100 per share)
- EYEG -13% (after closing more than 100% higher on Monday)
- GBT -12.3% ( to sell $75 mln in shares of its common stock in a registered underwritten public offering)
- BLPH -8.1% (pulling back following yesterday's 38% move higher)
- AGEN -5.3% (discloses that the Alliance for Clinical Trials in Oncology's Data and Safety Monitoring Board interim analysis for futility of the Phase II trial of Prophage G-200 vaccine in combination with bevacizumab suggested that the trial is unlikely to demonstrate that the vaccine will lead to a better survival than bevacizumab as a monotherapy), TLLP -4.8% (prices 5 mln common units for gross proceeds of $284 mln)
- SDRL -4.7% (reschedules Q4 earnings release; to restate FY15 financials; expected to increase shareholders equity in the range of $100-150 mln)
- NXL -3.7% (amends XSense Patent License Agreement with Atmel Corporation)
- IHG -2.9% (in sympathy with EU peer AccorHotels, down 3% after earnings)
- YUM -2.6% (following block trade pricing)
- CUZ -1.5% (commences public offering of 63,571,336 shares of its common stock, 25 mln shares are being offered by the co and the rest are being offered by shareholders affiliated with TPG Global)
- FLEX -1.1% (enters into a definitive agreement to acquire AGM Automotive; financial details not disclosed)
- ABB -0.8% (reports it has discovered criminal activityin its South Korean unit; estimates pre-tax charge of $100 mln)
- CIVB -0.7% ( prices 1.4 mln shares of common stock for $21.75 per share)
Analyst comments:
- CSIQ -2.5% (downgraded to Neutral from Overweight at JP Morgan)
- TRVG -2.2% (downgraded to Market Perform from Outperform at Cowen)
- TRIP -2.1% (downgraded to Underperform from Market Perform at Cowen)
- UPS -1.8% (downgraded to Neutral from Buy at BofA/Merrill)