>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance
: CMC -0.7%, LLY -0.3%

Select EU bellwhethers showing weakness: ABB -2.2%, ERIC -2.2%, SYT -2%, PHG -1.6%, ASML -1.4%, UN -1.2%, SAP -1.2%

Select oil/gas related names showing early weakness: STO -1.9%, TOT -1.8%, RIG -1.8%, SDRL -1.7%, BP -0.9%, RDS.A -0.8%

Other news: ADMS -4.7% (to offer 2.5 mln shares of its common stock in an underwritten public offering), AKBA -4.5% (announces proposed $75 mln public offering of common stock), XLRN -2.3% (filed $300 mln common stock offering; announced proposed $150 mln offering of common stock), BCS -1.1% (may be in symp with peers ING and SAN dg's today)

Analyst comments: SAN -2.1% (downgraded to Sector Perform at RBC Capital Mkts), VRSN -2.1% (downgraded to Sell from Neutral at Citigroup ), SPWR -1.6% (downgraded to Neutral from Buy at Goldman), RCL -1.3% (downgraded to Equal-Weight from Overweight at Morgan Stanley), APA -1.2% (downgraded to Underperform from Neutral at BofA/Merrill), DD -1.1% (downgraded to Neutral from Buy at Citigroup), ING -0.9% (downgraded to Sector Perform at RBC Capital Mkts), CSC -0.8% (downgraded to Equal Weight from Overweight at Barclays), JNPR -0.6% (downgraded to Mkt Perform from Outperform at Bernstein), DIS -0.5% (downgraded to Neutral from Outperform at Macquarie).