Gapping down
In reaction to disappointing earnings/guidance:
- JNPR -11.7% (also announces dividend increase and $300 mln accelerated share repurchase program), EGHT -11.2%, TUP -8.2%, ALGN -6.6%, COHR -6.4%, MSTR -6% (also expects to report a material weakness in its internal control over financial reporting in upcoming 10-k), MKSI -6%, MITK -4%, ILMN -3.2%, BSBR -3.2%, HA -3%, MXIM -2.9%, T -2.8%, AMGN -2.4%, IPHI -2.4%, SIMO -2.3%, NVS -2.1%, WNC -1.5%, AX -1.2%, SAN -0.9%
Other news:
- ACIU -44.1% (AC Immune discontinues Phase III CREAD 1 and 2 studies of Crenezumab in Alzheimer's disease)
- TRVN -14.2% (entered into securities purchase agreements with two healthcare-focused institutional investors, pursuant to which Trevena agreed to sell 10 mln common shares at $1.00/share)
- RWT -2.7% (prices 10 mln shares of common stock at $15.60 per share)
- FHB -2.6% (prices secondary offering of approx. 24.9 mln shares of common stock for total gross proceeds of approx. $652.6 mln)
- NIO -1.3% (announces offering of $650 mln in aggregate principal amount of convertible senior notes due 2024; lightly traded)
Analyst comments:
- AKS -1.8% (downgraded to Underperform from Buy at BofA/Merrill)
- AGN -1.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- WHR -1.5% (downgraded to Mkt Perform from Outperform at Raymond James)
- CIEN -1% (downgraded to Neutral from Buy at BofA/Merrill),