Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- LEDS -19.3%,
- AIR -10.3%
- MIK -4.9%, (Michaels Stores to offer for sale 11 mln shares on behalf of selling shareholders, will repurchase 1 mln of those sold; anticipates Q2 results to be in the lower-to-middle range of the previously disclosed guidance)
- CHSP -4.2%, (lowers Q2 RevPAR guidance but AFFO per share should be near the midpoint of prior guidance; cites slowdown in demand from corporate transient customers)
- ANGO -3.6%
M&A news:
- FANG -2.7% (to acquire leasehold interests and related assets in the Southern Delaware Basin, launches underwritten public offering of 5.5 mln shares of its common stock)
Other news:
- GWPH -5.2% (prices offering of 2.8 mln ADSs, representing 33.6 mln ordinary shares of GW, at $90.00 per ADS)
- ABBV -1.5% (likely attributed to Amgen's FDA Advisory Committee for Biosimilar to Humira)
- SBUX -1.4% (pulling back following strength yesterday)
Analyst comments:
- YELP -2.5% (downgraded to Underperform from Market Perform at Wells Fargo)
- MWA -2.1% (downgraded to Neutral from Outperform at Boenning & Scattergood)
- PBR -1.9% (downgraded to Underweight from Equal Weight at Barclays)
- HST -0.9% (downgraded to Underweight from Neutral at JP Morgan)
- RAIL -0.8% (downgraded to Hold from Buy at Stifel)