>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • RT -9.3%, (also announces new CEO; no updates on strategic alternatives)
  • NQ -6.6%, (also provides update to the completion of FL Mobile divestment and sale of Showself's Live Social Video Business)
  • WDFC -4.2%, PSMT -2.6%
Select metal producer names trading lower:
  • MTL -3.6%, VALE -3.2%, CLF -3%, RIO -2.2%, MT -1.6%, FCX-1%, BBL -0.9%, BHP -0.8%
Other news:
  • DRYS -23.3% (to effect a 1-for-4 reverse stock split of common shares; will begin trading on split-adjusted basis at the open on April 11, 2017 under the existing trading symbol)
  • CLNT -13.1% (modestly pulling back following yesterday's 129% move higher)
  • CBIO -11.2% (files a Form EFFECT (Notice of Effectiveness) for an S-1)
  • CJ -10.3% (prices 7 mln common stock offering at $32.50/share)
  • VEON -4.8% (prices offering of 70 mln common shares by selling shareholders at $3.75)
  • ANGO -4.7% (prices secondary offering by selling stockholders of 2.35 shares of common stock at $16.20 per share)
  • EGLE -3.4% (files for offering of $750 mln of mixed securities, approx 34.3 mln shares of common stock, up to 537 shares issuable upon exercise of the Warrants by selling shareholders and up to 537 shares issuable upon exercise of the Warrants by Eagle Bulk Shipping)
  • NPTN -2.2% (NeoPhotonics CFO Ray Wallin will resign effective May 15 and remain as a consultant for a three-month transition period; Company has retained an executive search firm to identify a successor CFO)
  • GLPG -1.7% (announces a share capital increase arising from warrant exercises)
  • MDT -1.5% (announces voluntary worldwide recall of its StrataMR adjustable valves and shunts)
  • SNY -1% (likely in sympathy with AZN and NVO, which were downgraded at HSBC)
  • SHPG -0.9% (likely in sympathy with AZN and NVO, which were downgraded at HSBC)
  • MRK -0.6% (receives a CRL from the FDA regarding its sNDA for JANUVIA, JANUMET, and JANUMET XR)
Analyst comments:
  • AZN -1% (downgraded to Reduce ratings at HSBC)
  • NVO -1% (downgraded to Reduce ratings at HSBC)