Gapping down
In reaction to disappointing earnings/guidance:
- RPM -3%, LNDC -1.5%, NG -1.1%
M&A news:
- NOA -1.9% (to acquire the heavy construction equipment fleet and related assets of Aecon Group for $199.1 mln)
Other news:
- DTEA -22.4% (ended the day up more than 60%; confirmed after the close it is not aware of any corporate development or other reason for the recent market activity)
- IGC -14.2% (completes at-the-market equity offering programs described in its prospectus supplements dated September 24 and October 1)
- KALA -11.7% (announces $110 mln in new financing from Athyrium Capital; Also announces public offering of common stock)
- EPZM -5.3% (prices underwritten public offering of 8,333,334 shares of its common stock at a price of $9.00 per share)
- SIR -2.8% (Government Properties Income [GOV] has begun a registered public offering of 24,918,421 common shares of Select Income REIT [SIR])
- DVMT -1.5% (confirms it has met with certain investment banks to explore a potential initial public offering of its Class C Common Stock as a potential contingency plan
- GWPH -0.8% (prices offering of 1.9 mln American Depositary Shares at a price to the public of $158.00 per ADS)
Analyst comments:
- HMC -2% (downgraded to Outperform from Buy at CLSA)
- CVIA -2% (downgraded to Underperform from Neutral at Credit Suisse)
- CVRR -1.6% (downgraded to Underweight from Equal Weight at Barclays)
- NKE -0.8% (downgraded to Hold from Buy at HSBC Securities)
- ORCL -0.8% (downgraded to In-line from Outperform at Evercore ISI)
- HCLP -0.5% (downgraded to Neutral from Outperform at Credit Suisse)
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