>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: NMBL -13.1%, CLLS -3.2%, HPE -2.7%, HPQ -1.6%, PFLT -1.3%, ICL-0.8%

M&A news:
  • BTE -2.4% (Announced deal to acquire heavy oil assets located in the Peace River area of northern Alberta for CAD 65 mln; enters CAD 100 mln bought deal financing)
  • AYA -1.8% (confirms that it is aware of media report regarding David Baazov's proposal; no further comment at this time)
Select EU financial related names showing weakness: RBS -2.5%, ING -2.2%, CS -2%, BBVA -1.9%, DB -1.4%, BCS-1.2%, HSBC -0.8%

Select Pharma related names showing early weakness after LLY, JUNO news: MRK -2.8%, NVO -1.7%, SNY -1%, AZN-1%

Other news:
  • JUNO -43% (voluntarily places on hold the Phase II clinical trial of JCAR015)
  • LLY -13.5% (announces that solanezumab did not meet the primary endpoint in the EXPEDITION3 clinical trial for the treatment of mild dementia due to Alzheimer's disease)
  • TCON -13.1% (Announced that it has commenced an underwritten public offering of shares of its common stock)
  • ENBL -12.4% (prices 10 mln common units, by co and selling unit holder, at $14.00 per common unit)
  • SCON -11% (still checking), FGP -7.8% (Lowered its quarterly distribution to $0.10/unit from $0.5125/unit)
  • BIIB -7.3% (following LLY's failed Alzheimer's study and possible read-through to BIIB's aducanumab)
  • KITE -6.2% (competitor Juno (JUNO -- halted) gets Phase II clinical trial of JCAR015 in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia, known as the "ROCKET" placed on clinical hold for the second time this year)
  • BLUE -5.7% (in smypathy with KITE/JUNO)
  • CLLS -3.2% (in smypathy with KITE/JUNO)
Analyst comments:
  • RTEC -1% (downgraded to Hold from Buy at Stifel)
  • PRXL -0.6% (downgraded to Market Perform from Outperform at Wells Fargo)