Gapping down
In reaction to disappointing earnings/guidance:
- ADTN -7.8%, BMI -6.7%, IBM -5.4%, LRCX -5.3%, HCSG -4.7%, ETH -2.4%, (Ethan Allen sees Q3 EPS below estimates; started repurchasing shares in April ), FRGI -2.3%, ASML -2.1%
M&A news:
- SMG -1.2% (to acquire the assets of Sunlight Supply in a transaction valued at $450 million, includes $25 million of SMG equity)
Select semiconuctor and related names showing weakness after LRCX earnings/guidance:
- AMAT -2.6%, MU -1.1%, KLAC -0.6%, XLNX -0.5%, NVDA -0.5%
Other news:
- AGLE -10.3% (commences underwritten public offering of 4.5 mln shares of its common stock)
- MBII -7.1% (to offer shares of common stock in an underwritten public offering)
- SJI -3.9% (to conduct concurrent registered public offerings of up to $325 million of shares of its common stock and 5.0 million Equity Units)
Analyst comments:
- GRUB -1.0% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- MO -1.1% (downgraded to Neutral from Buy at Citigroup)
- AKS -1.7% (initiated with a Sell at UBS)
- JNPR -2.8% (downgraded to Sell from Neutral at Goldman)
- ZG -2.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
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