Gapping down
In reaction to disappointing earnings/guidance:
- SGH -16.4%, STZ -11.1%, TLND -7.6%, MSM -3.8%, LEN -0.9%
Other news:
- TOO -15.1% (is reducing its quarterly common unit cash distributions to zero from $0.01 per common unit to reinvest additional cash in the business and further strengthen its balance sheet)
- TROX -6.2% (provides update regarding pending Cristal acquisition; addresses partial shutdown of U.S. government and impact to proposed remedy discussions with FTC)
- NBR -1.1% (provides Q4 highlights ahead of conference presentations; targeting $200 to $250 mln net debt reduction during 2019 including dividend cut)
- HLF -1.1% (appoints Michael Johnson as Interim CEO, effective immediately, following the resignation of CEO Richard Goudis)
- PCG -0.9% (attributed to California Governor Newsom comments)
- NYMT -0.5% (upsizes and prices 12.6 mln shares of common stock at $5.96 per share)
Analyst comments:
- BF.B -3.3% (downgraded to Sell from Neutral at Goldman)
- BKNG -1.9% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- UAL -1.5% (downgraded to Underperform at Imperial Capital)
- EXPE -1.5% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- FIVE -1.2% (downgraded to Hold from Buy at Loop Capital)
- EL -1% (downgraded to Sell from Neutral at Goldman)
- DUK -0.8% (downgraded to Neutral from Buy at BofA/Merrill)