Gapping down
In reaction to disappointing earnings/guidance:
- MEET -13.2%, ZAGG -10%, (also Randy Hales will retire as ZAGG's President and CEO), HDSN -6%, TECD -5.2%, KR -4.7%, FMSA -4.5%, ERII -3.3%, NIHD -2.8%, TRNC -2.2%, CRY -2%, FNV -1.8%, WRD -1.7%, VKTX -1.7%, (also VK2809 Phase 2 fatty liver and hypercholesterolemia study proceeding, results expected 2H18 ), VSLR -1.7%, FMI -1.1%, DVAX -1.1%, FGP -0.8%
M&A news:
- CI -5.3% (to acquire ESRX for ~$67 bln)
Other news:
- VBLT -64% (announces top-line results from pivotal Phase 3 GLOBE study in patients with recurrent glioblastoma; study did not meet its pre-specified primary endpoint of overall survival)
- CRVS -12.5% ( commences an underwritten public offering of up to $50 mln shares of its common stock )
- CKPT -12% (proposes to offer and sell shares of its common stock in an underwritten public offering)
- GWRE -2.5% (announces proposed public offerings of $200 mln of common stock and $300 mln of convertible Senior Notes and files mixed shelf)
- CLSD -1% (priced public offering of 6,538,462 shares of its common stock at $13.00/share)
Analyst comments:
- CF -1.9% (downgraded to Underperform from Buy at BofA/Merrill)
- OAS -0.5% (downgraded to Underperform from Neutral at BofA/Merrill )
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