>>> US Gapping down



Gapping down
(note - With US futures trading 2-3% lower, most stocks are trading down. The following represents decliners that have identified catalysts)

Select ETFs showing early weakness:

  • QQQ -3%,  IWM -2.5%,  SPY -2.3%,  DIA -1.9%

Other news:

  • ASTR -21.8% (tweets "We had a nominal first stage flight. The upper stage shut down early and we did not deliver the payloads to orbit. We have shared our regrets with NASA and the payload team. More information will be provided after we complete a full data review")
  • COGT -12.7% (commenced an underwritten public offering of $125 million of shares of its common stock)
  • DWAC -8% (provides investigation updates)
  • USEG -4.9% (files for 19905736 share common stock offering by selling shareholders)
  • CRGY -4.4% (files for 5 mln share common stock offering)
  • SOL -3.5% (reports award of 20-year renewable energy credit contracts for two solar projects in New York and Illinois)
  • PLAB -3.3% (files to delay its 10-Q as the information required is not available as of the 10-Q required filing date)
  • CVE -3.1% (to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp)
  • GMAB -3% (reports late-breaking Phase 2 trial results of investigational Epcoritamab)
  • NVO -2.9% (reports Investigational phase 3 data for Sogroya)
  • HZNP -2.9% (reports pooled data from TEPEZZA)
  • BGNE -2.4% (has extended the Prescription Drug User Fee Act goal date by three months to January 20 2023 for the supplementary new drug application for BRUKINSA as a treatment for adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma)
  • GS -2.1% (report SEC is investigating ESG funds according to WSJ)

Analyst comments:

  • VLTA -10% (downgraded to Neutral from Overweight at Cantor Fitzgerald)
  • ZEN -6.1% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
  • DOCU -5.8% (downgraded to Underperform from Peer Perform at Wolfe Research)
  • KOS -5% (downgraded to Hold from Buy at Berenberg)
  • MU -4.2% (downgraded to Hold from Buy at Summit Insights)
  • TROW -3.3% (downgraded to Market Perform from Outperform at BMO Capital Markets)
  • NRZ -2.7% (downgraded to Underweight from Neutral at Piper Sandler)
  • IVZ -2.5% (downgraded to Market Perform from Outperform at BMO Capital Markets)