>>> US Gapping down


Gapping down
In reaction to earnings/guidance:

  • ORGN -54.3%, ORGO -30.4% (also withdraws FY23 guidance), WWW -20.4%, PAR -15.9%, TASK -14.9%, CERT -14.6%, STKL -13.3%, PLUG -12.2%, MGNI -9.2%, PRPL -7.3%, DNA -5.7%, WEST -5.5%, MXCT -5.5%, MLTX -5%, CYRX -4.8%, DNUT -4.5%, DDS -4.5%, ILMN -4.4%, QNST -3.8%, PLBY -3.6%, HIMX -3.4%, HBI -3.4%, UHAL -3%, PLRX -3%, JBI -2.6%, INFN -2.4% (also files $100 mln convertible senior notes; files mixed shelf securities offering), NVO -2.2%, OEC -2.1%, HCCI -2.1%, CLNE -2%, SIX -2%, BRP -1.8%, G -1.7%

Other news:

  • INVZ -17.5% (prices offering of 26.0 mln ordinary shares at $2.50 per ordinary share)
  • TNGX -8.5% (announces agreement to sell approx. 15.5 mln shares in private placement at $5.15/share)
  • FLYW -6.4% (prices offering of 8.0 mln shares of common stock at $32.00 per share)
  • BXSL -5.3% (prices offering of 6.5 mln shares of common stock at $27.33 per share)
  • SWAV -3.8% (announces proposed private offering of $500 million of convertible senior notes due 2028)
  • TPR -3.4% (Tapestry (TPR) confirms definitive agreement to acquire Capri Holdings (CPRI) for $57.00 per share in cash for a total enterprise value of approximately $8.5 billion; expected to be immediately accretive)
  • ARMK -3.1% (prices secondary offering of 21262245 shares of its common stock by a selling stockholder at $39.75 per share)
  • BLNK -3.1% (received SEC subpoena relating to various matters)
  • ENVX -2.2% (files $1 bln mixed shelf securities offering)
  • MRUS -1.8% (prices offering of 6818182 common shares at $22.00 per share)
  • SPNT -1.8% (enters standstill agreement with Dan Loeb)

Analyst comments:

  • OSPN -10.1% (downgraded to Neutral from Buy at DA Davidson)
  • SBAC -2.9% (downgraded to Neutral from Buy at BofA Securities)
  • PENN -2.4% (downgraded to Hold from Buy at Craig Hallum; downgraded to Hold from Buy at Truist)
  • CCI -1.3% (downgraded to Neutral from Buy at BofA Securities)
  • AGTI -1% (downgraded to Mkt Perform from Outperform at Raymond James)
  • KLIC -1% (downgraded to Hold from Buy at Craig Hallum)
  • NVEI -0.8% (downgraded to Neutral from Buy at Goldman)