Gapping down
In reaction to disappointing earnings/guidance:
- TTS -52.2%, HAS -11%, TACO -10.2%, TRV -4.2%, HXL -3.4%, SITC -1.6% (also commences public offering of 10.5 mln common shares), HLX -1.3%, SHW -1%, KMB -0.9%, NVS -0.6%
Other news:
- GOSS -27.8% (after Novartis (NVS) says its DP2 antagonist, fevipiprant, failed to meet its primary endpoint in ZEAL 1 and 2 trials )
- HHC -17.4% (announces Transformation Plan following strategic review process and names Paul Layne as CEO, effective immediately)
- PRVB -10.5% (announces top-line results from Phase 2a PRINCE clinical trial evaluating twice-daily PRV-6527 -- study did not achieve primary endpoint due to high placebo effect)
- UPS -3.7% (Stamps.com and UPS to collaborate on shipping solutions to E-commerce sellers; UPS also announces multiple tech-enabled services, new customers and partners)
- TNP -3.1% (files for ~11.67 mln share common stock offering by selling shareholders)
- ONCE -2.8% (UK's CMA launches investigation into Roche's (RHHBY) proposed takeover of Spark)
- SITC -1.6% (prices 11.5 mln shares of common stock at $14.90 per share)
Analyst comments:
- AAOI -6.1% (downgraded to Underweight from Neutral at JP Morgan)
- MSM -2.8% (downgraded to Underperform from Market Perform at Wells Fargo)
- AIN -1.8% (downgraded to Neutral from Outperform at Robert W. Baird)
- TXT -1.5% (downgraded to Neutral from Buy at BofA/Merrill)
- CVA -1.4% (downgraded to Mkt Perform from Strong Buy at Raymond James)
- ARI -1% (downgraded to Neutral from Overweight at JP Morgan)
- INTU -1% (downgraded to In-line from Outperform at Evercore ISI)
- KMT -0.8% (downgraded to Neutral from Buy at Longbow)
- SPR -0.8% (downgraded to Neutral from Outperform at Robert W. Baird)
- MAIN -0.7% (downgraded to Mkt Perform from Outperform at Raymond James)