Gapping down
Briefing note: With US Futures down ~1.5% in pre-mkt, most stocks are trading lower. The following represents stocks lower on more specific items.In reaction to disappointing earnings/guidance: IBM -6%, AMD -4.6%, EAT -4.6%, IBKR -4.4%, RDS.A -3.7%, PACB -2.7%, GS -1.6%
Select financial related names showing weakness: HSBC -3.8%, CS -3.8%, DB -3.3%, BAC -3.3%, BCS -3.2%, C -2.9%, ING -2.7%, LYB -2.7%, JPM -2.3%
Select oil/gas related names showing early weakness: WLL -9.7%, LEI -8.1%, DVN -5.8%, CHK -5.2%, PBR -4.7%, STO -4.2%, TOT -3.2%, APC -2.9%, SLB -2.9%
Other news: THS -7.8% (to offer up to $750 mln in common stock to fund part of its acquisition of ConAgra's (CAG) Private Brands business), SUNE -6.5% (still checking), BHP -6% (reported FY15 op metrics), DOC -5.7% (upsizes and prices 18.5 mln shares of common stock at $15.75), AMD -5.6% (following IBM results), MU -4.3% (following IBM results), SSS -3.5% ( commences a public offering of 2.3 mln shares of common stock), BABA -3.3% (weakness in Chinese mkts overnight), BIDU -2.7% (weakness in Chinese mkts overnight)
Analyst comments: SDRL -10.8% (downgraded to Underperform at BofA/Merrill), FTNT -6.7% (downgraded to Neutral from Overweight at Piper Jaffray), VALE -6% (downgraded to Hold from Buy at HSBC Securities), RACE -2.2% (initiated with a Neutral at Citigroup; tgt $37), TIF -2% (downgraded to Neutral from Buy at Goldman), PRU -1.9% (downgraded to Neutral from Buy at BofA/Merrill)