Gapping down
In reaction to disappointing earnings/guidance:
- IBM -5.3%, CMA -4.7%, EDU -4%, TRV -3.7%, ACC -3.5%, FITB -2.3%, SAP -2.2%, CDNS -2.1%, TW -1.9%, ZION -1.6%, SYF -1.5%, GO -1.3% (guides Q1 revs higher, but also announces stock offering by selling shareholders), HXL -1%
Select ETFs showing early weakness:
- USO -21.1%, XLE -4%, GDX -3.6%, SLV -3.6%, IWM -2.9%, DIA -2.3%, GLD -2%, SPY -1.8%, QQQ -1.2%
Other news:
- CACC -8.6% (delays 10-Q, sees likely adverse impact from COVID-19)
- TW -1.9% (files for 10.95 mln share common stock offering)
- DRI -1.8% (prices offering of 7,826,087 shares of common stock at $58.50 per share)
- ALB -1.7% (appoints J. Kent Masters as Chairman and CEO)
Analyst comments:
- CDLX -7.6% (downgraded to Underperform at BofA/Merrill)
- SLB -6.2% (downgraded to Sell from Hold at DZ Bank)
- GOLF -3.6% (downgraded to Sell from Neutral at Compass Point)
- ILMN -3.2% (downgraded to Neutral from Outperform at Robert W. Baird)
- CHWY -1.8% (downgraded to Neutral from Buy at UBS)
- LLY -1.1% (downgraded to Neutral from Buy at UBS)