Gapping down
In reaction to disappointing earnings/guidance:
- LZB -6.6%, SBUX -3.7%, (details three strategic priorities - taking decisive steps to address anticipated Q3 comps of 1%; lowers FY18 EPS guidance), ORCL -3.5%
Other news:
- ANIK -17.3% (announces that CINGAL 16-02 clinical trial for knee osteoarthritis did not achieve statistical significance)
- KIN -3% (proposed public offering of common stock)
- GE -1.4% (Walgreens Boot Alliance to replace General Electric in the Dow Jones Industrial Average, effective before the open Tuesday, June 26)
- VALE -0.5% (light volume; provides announces cobalt streaming transaction update and files for debt securities/guarantees offering)
Analyst comments:
- SBH -2.9% (downgraded to Market Perform from Outperform at Cowen)
- IONS -2% (downgraded to Underweight from Equal Weight at Barclays)
- SMG -0.9% (downgraded to Underperform from Mkt Perform at Raymond James)
- XEL -0.8% (downgraded to Neutral from Buy at BofA/Merrill)