Gapping down
In reaction to disappointing earnings/guidance:
- SHW -10%, JPM -3%, DAL -1.7%, EVBG -1.3% (also announces launch of proposed underwritten public offering of $125 mln of its common stock), NAV -1.1%, ENR -0.9% (also commenced concurrent offerings of $187.5 mln of shares of common stock and $187.5 mln of shares of Series A Mandatory Convertible Preferred Stock pursuant to an effective registration statement), CTRN -0.9%, UNH -0.6%
Other news:
- PCG -10% (following 50%+ move lower amid bankruptcy concerns)
- ALNY -7.2% (prices 5 mln shares of common stock at $77.50 per share)
- STML -4.7% (proposed offering to sell 6.6 mln shares of common stock)
- JCP -3.8% (announces executive leadership changes; seeking to fill key senior management positions and address current business needs)
- ARR -2.9% (prices underwritten public offering of 6 mln shares of common stock at a public offering price of $20.41 per)
- TOT -2% (reports Q4 average liquids price of $57.2/barrel versus $57.6/barrel last year)
- XLRN -1.9% (announces proposed public offering of $200 mln of its common stock)
- CVS -1.5% (Walmart (WMT) expected to leave CVS Caremark pharmacy networks following dispute over pricing, according to the WSJ)
- BSX -1.2% (Boston Scientific, Edwards Lifesciences (EW) reach agreement to settle all outstanding patent disputes)
Analyst comments:
- CTRL -5.5% (downgraded to Mkt Perform from Outperform at Raymond James)
- ALB -1.4% (downgraded to Neutral from Buy at Nomura)
- ADSK -1.3% (downgraded to Equal-Weight from Overweight at Morgan Stanley)