Gapping down
In reaction to disappointing earnings/guidance: MTZ -14.1%.
M&A news: NOV -9.3% (spin off of DNOW, target lowered to $82 from $90 at Howard Weil to account for DNOW spin (effective today)), SNN -1.7% (cont volatility due to M&A spec).
Select Biotech/pharma related names showing weakness after ASCO: PBYI -13.6%, CYTK -8.8%, CLVS -5.3%, NVS -1.2%.
Other news: AFSI -6.8% (cautious Barrons mention), DSCO -2.7% (files for $250 mln mixed securities shelf offering), ALU -2% (Ex-div), BNNY -2% (announces late 10-Q filing), IEP -1.9% (related to reports of SEC instigation), GFI -1.7% ( South Deep Section 54 lifted, operations resumed), NEON -1.4% ( files for 5 mln share common stock offering), CEL -1.3% (announced that its Board of Directors has instructed the Company to commence preparations for raising debt by offering), INSM -1.1% (files for common stock offering, size not disclosed), ALXN -0.8% (initiates voluntary nationwide recall of certain lots of Soliris (eculizumab) concentrated solution for intravenous infusion due to the presence of visible particulate matter in a single lot).
Analyst comments: Z -3.8% (downgraded to Sector Perform at RBC Capital Mkts, downgraded to Sector Perform from Outperform at Pacific Crest), STM -2.1% (downgraded to Sell from Neutral at Citigroup), XLNX -1.2% (downgraded to Neutral from Buy at Goldman), BIG -1.2% (downgraded to Equal Weight from Overweight at Barclays), MCHP -0.9% (downgraded to Neutral from Buy at Goldman).
In reaction to disappointing earnings/guidance: MTZ -14.1%.
M&A news: NOV -9.3% (spin off of DNOW, target lowered to $82 from $90 at Howard Weil to account for DNOW spin (effective today)), SNN -1.7% (cont volatility due to M&A spec).
Select Biotech/pharma related names showing weakness after ASCO: PBYI -13.6%, CYTK -8.8%, CLVS -5.3%, NVS -1.2%.
Other news: AFSI -6.8% (cautious Barrons mention), DSCO -2.7% (files for $250 mln mixed securities shelf offering), ALU -2% (Ex-div), BNNY -2% (announces late 10-Q filing), IEP -1.9% (related to reports of SEC instigation), GFI -1.7% ( South Deep Section 54 lifted, operations resumed), NEON -1.4% ( files for 5 mln share common stock offering), CEL -1.3% (announced that its Board of Directors has instructed the Company to commence preparations for raising debt by offering), INSM -1.1% (files for common stock offering, size not disclosed), ALXN -0.8% (initiates voluntary nationwide recall of certain lots of Soliris (eculizumab) concentrated solution for intravenous infusion due to the presence of visible particulate matter in a single lot).
Analyst comments: Z -3.8% (downgraded to Sector Perform at RBC Capital Mkts, downgraded to Sector Perform from Outperform at Pacific Crest), STM -2.1% (downgraded to Sell from Neutral at Citigroup), XLNX -1.2% (downgraded to Neutral from Buy at Goldman), BIG -1.2% (downgraded to Equal Weight from Overweight at Barclays), MCHP -0.9% (downgraded to Neutral from Buy at Goldman).