Gapping down
In reaction to disappointing earnings/guidance:
- JCP -9.6%, KSS -9.4%, QTT -5.3% (also announced resignation of Lei Li as CEO; appointed Eric Siliang Tan as CEO and Xiaolu Zhu as co-CFO), NDSN -3.5%, HD -0.6%, MNRO -0.5%
M&A news:
- VAR -2.9% ( to acquire Cancer Treatment Services International; lowers FY19 EPS guidance)
Other news:
- BCRX -44% (despite announcement that its Phase 3 APeX-2 trial met its primary endpoint as traders call the results 'clinically disappointing')
- OCUL -14.5% (OTX-TP failed to meet primary endpoint in Phase 3 glaucoma trial)
- CVNA -5.6% (commences public offering of 3.5 mln shares of common stock and private offering of $250.0 mln of senior notes)
- GH -3.1% (proposes 4.5 mln share offering)
- MRCY -2.8% (announces 5.0 mln common share offering)
- INSM -2.7% (commences $250 mln stock offering; presented new ARIKAYCE data)
- AKRX -2.4% (receives ANDA for Azelastine Hydrochloride Nasal Spray, 0.1%)
- SWI -1.7% (launches public offering of 15.0 mln shares of common stock)
- SNE -1.5% (provides updated mid range outlook at strategy meeting)
Analyst comments:
- TSLA -3.6% (Morgan Stanley note circulates; analyst Adam Jonas cuts his 'bear-case' scenario on the stock to $10 from $97 given the increased debt load, geopolitical exposure, and potential for negative news flow to impact fundamentals)