gapping down
In reaction to disappointing earnings/guidance:
- TXN -7.4%, MRCY -7.2%, UAL -6.6%, LUV -3.5%, RES -2.9%, CNI -2.3%, ROK -2.3%, COF -1.9%, CREE -1.5%, STL -1.1%, UTX -1.1%
M&A news:
- SIGM -11.4% (Sigma Designs to sell Z-Wave business to Silicon Labs (SLAB) for $240 mln)
Other news:
- PBYI -26.7% (CHMP communicated negative trend vote after meeting to discuss MAA for neratinib for the extended adjuvant treatment of early stage HER2-positive breast cancer)
- TK -8.8% (Teekay Shipping to sell $100 mln aggregate principal amount of convertible senior notes due 2023, commences offering to sell 10 mln shares of its common stock)
- FPRX -7.5% (to offer and sell $75 mln of shares of its common stock in an underwritten public offering)
- SYBX -6.3% (commences underwritten public offering of its common stock; size not disclosed )
- KOOL -5% (files $15 mln common stock offering )
- RPD -2.9% (Rapid7 commences 5.18 mln common stock offering by the co and selling stockholders, sees Q4 revs above consensus, highlights FY18 outlook)
- BOLD -1.7% (commences $150 mln common stock offering; suspends 'at-the-market' program and sales agreement with Cowen and Company)
- AERI -1.6% (announces public offering of $75mln of shares of its common stock )
- QCOM -1.3% (EU Commission fines QCOM EUR 997 mln for abuse of dominant market position)
- GDS -0.9% ( intends to offer 8.0 mln ADSs and entities affiliated with SBCVC Holdings intend to offer 1.5 mln ADSs in an underwritten public offering), .
Analyst comments:
- VRX -5.2% (initiated with a Sell at Goldman)
- ATI -2.6% (downgraded to Neutral from Buy at BofA/Merrill)
- HBAN -0.9% (downgraded to Neutral from Outperform at Macquarie)