Gapping down
In reaction to disappointing earnings/guidance:
- CTB -9.9%, OIS -6.2%, NSP -3.2%, IX -2.6%, PFE -2.2%
Other news:
- LXRX -48.2% (provides preliminary update for Zynquista (Sotagliflozin) Type 2 Diabetes Phase 3 program; Sanofi (SNY) provides disputed termination notice; LXRX will provide update during earnings call Aug 1 )
- SMSI -5.7% (modestly pulling back following last week's strength)
- EXAS -5.4% (Genomic Health to combine with Exact Sciences (EXAS) for $72.00 per share in a cash and stock transaction valued at $2.8 billion)
- BXMT -1.6% (files for mixed securities shelf offering)
- NVS -1.2% (provides update on Phase III PARAGON-HF trial in heart failure patients with preserved ejection fraction; PARAGON study narrowly misses statistical significance on the primary endpoint; overall safety profile confirmed)
- DOW -1% (mixed securities shelf offering)
- CDLX -0.8% (files for $100 mln mixed securities shelf offering and 4 mln share common stock offering by holders)
Analyst comments:
- RARX -5.8% (downgraded to Mkt Perform from Strong Buy at Raymond James)
- POWI -3.4% (downgraded to Under Perform from Market Perform at Northland Capital)
- DISH -2.7% (downgraded to Underweight from Equal Weight at Barclays)
- MYGN -2% (downgraded to Hold from Strong Buy at Needham)
- PYPL -1.5% (downgraded to Sell from Neutral at Guggenheim)
- NTAP -1.3% (downgraded to Neutral from Buy at Longbow)
- SBUX -1.2% (downgraded to Neutral from Overweight at JP Morgan)
- NUVA -1.1% (downgraded to Neutral from Outperform at Robert W. Baird)
- UPS -0.9% (downgraded to Hold from Buy at Stifel)
- AAL -0.8% (downgraded to Neutral from Outperform at Macquarie)