Gapping down
In reaction to earnings/guidance:
- ZEN -18.6% (also ZEN to acquire MNTV, including its SurveyMonkey platform), WDC -11%, WERN -9.1%, DVA -6.2%, FTDR -6.2%, SBUX -5.4% (also commits to $20 bln of share repurchases and dividends over next 3 yrs), NWG -5%, POLY -4.5%, HVT -4.4%, POWI -4.2%, MPWR -4.1%, AMZN -4%, AAPL -3.5%, MGI -3.5%, CRI -3.5%, COHU -3.1%, TEX -3.1%, SYK -2.8%, CHTR -2.6%, LYB -2.5%, EIG -2.4%, AON -2.4%, LMAT -2.2%, ATR -2%, IMGN -2%, LHX -1.8%, EB -1.7%, MESO -1.7%, GILD -1.5% (also GILD and MRK announce clinical trial combination for Trodelvy in combination with KEYTRUDA), MHK -1.4%, SPSC -1.4% (also new $50 mln share repurchase auth), CVA -1.2%, COLM -1.2%, KNSL -1.2%, VALE -1.2%, FTS -1.2%, FTAI -1.1%, CHD -1.1%
Other news:
- FDMT -10.9% (prices offering of 4.75 mln shares of common stock at $25.00 per share)
- MNTV -5.8% (ZEN to acquire MNTV; also guides Q3 revs slightly above consensus)
- STX -2.1% (in sympathy with WDC earnings/guidance)
- OZK -2.1% (increases size of stock repurchase program to $650 mln)
- MU -2% (in sympathy with WDC earnings/guidance)
- CRUS -1.9% (in sympathy with Apple earnings)
- ETSY -1.8% (in sympathy with AMZN earnings)
- QRVO -1.7% (in sympathy with Apple earnings)
- SWKS -1.4% (in sympathy with Apple earnings)
- AVGO -1.1% (in sympathy with Apple earnings)
- LITE -0.8% (in sympathy with Apple earnings)
Analyst comments:
- BSIG -0.9% (downgraded to Mkt Perform from Outperform at Keefe Bruyette)
- HSY -0.9% (downgraded to Neutral from Buy at Citigroup)
- MO -0.7% (downgraded to Equal-Weight from Overweight at Morgan Stanley)