Gapping down
In reaction to disappointing earnings/guidance:
- EFII -24.4%, ADNT -11.5%, SNAP -10.6% (expects to report Q4 revenue/adj EBITDA results that are slightly favorable to the top end of previously reported quarterly guidance ranges; CFO Tim Stone to resign to pursue other opportunities), JWN -8.9% (Nordstrom reports holiday comps +1.3%; EPS is expected to be around the low end of the Company's prior outlook range), HAFC -8.5%, PSO -7.4%, FULT -6.7%, ERJ -4.8%, F -2% (Q4 guidance), FSK -1.7%, BLK -0.9%, PNC -0.5%
M&A news:
- FISV -2.2% (to acquire FDC for 22.74 per share in all stock deal
Other news:
- APTX -60.2% (reports top-line results from Phase 2 clinical study of NYX-2925 in painful diabetic peripheral neuropathy -- NYX-2925 did not achieve statistically significant separation from placebo on primary endpoint)
- PCG -8.8% (continued weakness; Teleflex to replace PG&E in S&P 500)
- RVNC -5.6% (proposes $100 mln common stock offering)
- STML -2.9% (prices underwritten public offering of 8,888,889 shares of its common stock at a price of $9.00 per share)
- FPRX -2.3% (announces restructuring to focus on clinical development and later-stage research priorities; anticipates ending 2019 with $148-153 million in cash, cash equivalents )
- XLRN -1% (offering of 5,348,838 shares of common stock at a price to the public of $43.00 per share )
- TFX -0.8% (Teleflex to replace PG&E in S&P 500)
- NBEV -0.8% (signs agreement to develop and distribute Marley branded cannabis-infused beverages)
- PBR -0.6% (reported 2018 production)
Analyst comments:
- HPE -3% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- NTAP -2.8% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- BUD -2.6% (downgraded to Underperform from Hold at Jefferies)
- INCY -1.5% (downgraded to Neutral from Buy at UBS)
- DVN -1.3% (downgraded to Equal Weight from Overweight at Barclays)
- SYY -1.2% (downgraded to Neutral from Buy at BofA/Merrill)