Gapping down
In reaction to disappointing earnings/guidance:
- CTAS -3.6%, NKE -2.7%
Other news:
- UPL -18.1% (Ultra Petroleum and Lenders were unable to reach agreement on the terms of senior secured first lien term loan; talks have ceased)
- CONE -4.5% (prices public offering of 8 mln shares of its common stock at a price to the public of $62.00 per share)
- NITE -4.4% (commences underwritten public offering of 4.0 mln ADSs)
- ROL -0.5% (Rollins to replace Andeavor [ANDV] in the S&P 500)
Analyst comments:
- LRCX -1.6% (downgraded to Neutral from Buy at UBS)
- CIEN -1.6% (downgraded to Neutral from Buy at UBS)
- PAYC -1.3% (downgraded to Neutral from Buy at BofA/Merrill)
- SYF -0.9% (downgraded to Neutral from Buy at BofA/Merrill)
- DWDP -0.8% (downgraded to Neutral from Buy at Nomura)
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