Gapping down
In reaction to disappointing earnings/guidance:
- WAT -15%, EDU -3.5%, SHW -3.5%, RMBS -2.7%, GES -2% (also announces offering of $250.0 mln of convertible senior notes due 2024 in private placement; reduces quarterly dividend to $0.1125/share from $0.225/share), FITB -2%, EFSC -1.4%, PG -0.7%, STT -0.6%
Other news:
- EMES -55.7% (enters into restructuring support agreement)
- GRTS -8.2% (files for 6.5 mln share common stock offering)
- RAD -0.9% (after closing near highs - up more than 10% on the day)
Analyst comments:
- HRL -3.9% (downgraded to Sell from Neutral at Goldman; downgraded to Underweight from Neutral at JP Morgan)
- BBL -1.3% (downgraded to Neutral from Buy at UBS)
- CROX -1.2% (downgraded to Neutral from Overweight at Piper Jaffray)
- OFC -1.2% (downgraded to Underweight from Sector Weight at KeyBanc Capital Markets)
- BHP -1.1% (downgraded to Neutral from Buy at UBS)
- DLR -1.1% (downgraded to Hold from Buy at Jefferies)