Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- TTS -15.3%, ERIC -12.9%, HOG -9.4%, FND -5.5%, (offers prelim Q2 results and launches proposed secondary offering of 9 mln shares of common stock by stockholders including funds affiliated with Ares Management (ARES), Freeman Spogli Management and management/directors of the Company), SCSS -4.7%, ETH -3.9%, (Ethan Allen comments on business in advance of investor meeting; sees Q4 adj EPS of $0.41-0.42 vs $0.50 estimate and retail written orders +1.9%), PLG -2.9%, (also updates outlook and financing), CMA-2%, MDSO -1.2%, GS -1.2%, BRO -0.7%, .
M&A news:
- FUEL -2.6% (to be acquired by Sizmek for $2.60/share in cash; pre-announces Q2 earnings)
Other news:
- IMUC -38.5% (prices 5,000 shares of its Series B 8% Mandatorily Convertible Preferred Stock and related warrants to purchase up to 9,000 shares at par for gross proceeds of approx. $5 mln)
- CBAY -9.7% (announces 10 mln share secondary offering)
- VNOM -7.7% (Viper Energy Partners' subsidiary of Diamondback Energy commences offering of 11 mln common units representing limited partner interests)
- REI -5.3% (intends to offer shares of its common stock in an underwritten public offering)
- NLY -4.4% (to offer 60 mln shares of common stock in underwritten offering; updates Q2 guidance)
- AUPH -4.2% (reliquishing Monday's gains related to anticipated appearance of CEO on MadMoney)
- SHLD -1% (after closing up 12% on ESL Partners / Eddie Lampert stake affirmation and line of credit update)
Analyst comments:
- CRUS -3.7% (downgraded to Underweight from Equal Weight at Barclays )
- AMD -3.6% (downgraded to Underweight from Equal Weight at Barclays)
- CCJ -1.5% (downgraded to Underperform from Neutral at Credit Suisse