Gapping down
In reaction to disappointing earnings/guidance:
- PRTY -33.4%, INSG -15.8%, WPM -6.5%, WUBA -5%, WUBA -4.9%, BEST -4.4%, DG -1.7%
M&A news:
- ZAGG -35.3% (concludes strategic review process; determines that it will continue to operate on a standalone basis; also reported earnings)
Select travel related names showing weakness:
- CCL -15.5%, UAL -13.9%, AAL -13.3%, RCL -13.1%, NCLH -12.5%, DAL -12.2%, JBLU -10.9%, LUV -10.1%, JETS -7.3%
Select ETFs trading lower:
- XLF -6.3%, XLK -5.8%, XLI -5.5%, IGV -5.3%, XLY -5.3%, DIA -5.2%, IWM -5%, QQQ -4.9%, SPY -4.8%, XLP -4.4%, XLB -4.1%, XLV -3.8%
Select oil/gas related names showing early weakness:
- HAL -8.7%, BP -8.3%, SLB -7.1%, PSX -6.7%, XLE -5.7%, RDS.A -5.7%, TOT -4.8%, XOM -4.6%
Other news:
- CGEN -16.3% (stock offering)
- MSG -13.6% (NBA suspends season after player tests positive for coronavirus)
- NVAX -13.1% (files mixed securities shelf offering)
- CLSD -12% (announces license agreement with Arctic Vision for XIPERE in Greater China and S Korea)
- KGC -7.3% (closed its Toronto office as a precaution as employee tested positive for COVID-19)
- BBY -5.2% (discloses upcoming departure of Executive Chairman Hubert Joly)
- ATVI -4.1% (names veteran Google executive Daniel Alegre as COO
- MRK -3.7% (Update on phase 3 GY004 for cediranib and LYNPARZA in platinum-sensitive relapsed ovarian cancer; trial did not meet the primary endpoint)
Analyst comments:
- BA -14.7% (downgraded to Neutral from Overweight at JP Morgan)
- HLT -9.3% (downgraded to Market Perform from Outperform at BMO Capital Markets)
- TOL -5.4% (downgraded to Underperform from Neutral at BofA/Merrill)
- LEN -4.5% (downgraded to Neutral from Buy at BofA/Merrill)