Gapping down
In reaction to disappointing earnings/guidance:
- PRGS -14.8%, JEF -5.8%, MU -5.2%, CAMP -3.7%
Select semiconductor stocks trading lower following MU earnings:
- AMAT -2.2%, WDC -1.8%, LRCX -1.7%, KLAC -1.4%, SMH -1.1%, AMD -0.9%, SOXX -0.7%, XLNX -0.5%
Other news:
- GOL -12.4% (Delta buying 20% of LATAM for $1.9 bln, selling minority Gol stake, according to CNBC)
- TDW -2% (announces organizational changes and continued streamlining of operations; COO Jeffrey Gorski and General Counsel/Corporate Secretary Bruce Lundstrom to resign effective September 30)
- EGO -1.7% (establishes $125 mln an at-the-market equity program)
- DAL -0.5% (LATAM Airlines and Delta confirm airline partnership in Americas; Delta will invest $1.9 bln for 20% stake in LATAM)
Analyst comments:
- ATRA -6.8% (downgraded to Sell from Neutral at Goldman)
- BOX -4.7% (downgraded to Underweight from Neutral at JP Morgan)
- LMNX -4% (downgraded to Underweight from Neutral at JP Morgan)
- CCL -2% (downgraded to Neutral from Buy at UBS)
- MXIM -1.3% (downgraded to Underperform from Neutral at BofA/Merrill)
- ODFL -0.9% (downgraded to Underperform from Neutral at BofA/Merrill)
- EBAY -0.7% (downgraded to Market Perform from Outperform at Wells Fargo)
- FDS -0.7% (downgraded to Underperform from Neutral at BofA/Merrill)