Gapping down
In reaction to disappointing earnings/guidance: ADEP -17.4%, KANG -16.3%, TSL -8.8%, SAFM -6.2%, MOV -4.3%, BBY -3.7%, PSEC -3.5%.
Other news: DRL -19.1% (Co disclosed that it was unable to reach a settlement agreement with Treasury of Puerto Rico), ASTI -7.7% (announced 1-for-10 reverse stock split), COCO -5.9% (disclosed it expects a $55-59 mln impairment charge; co also disclosed it continues to need to obtain additional sources of liquidity), BLMN -2.7% (negative Mad Money Mention), RWC -2.4% (following late strength on story that FBI has scuttled a contested $500 mln deal with Motorola), NES -1.7% (announced that VeroLube has proposed a reduction in the purchase price of Thermo Fluids to $145 mln from $175 mln), ROYT -0.9% (declared a September cash distribution of $0.11417 per unit, 14% below prior months distribution of $0.13234 per unit).
Analyst comments: ARCO -1.8% (downgraded to Neutral from Buy at BofA/Merril), SPG -0.4% (downgraded to Market Perform from Outperform at BMO Capital Mkts).
In reaction to disappointing earnings/guidance: ADEP -17.4%, KANG -16.3%, TSL -8.8%, SAFM -6.2%, MOV -4.3%, BBY -3.7%, PSEC -3.5%.
Other news: DRL -19.1% (Co disclosed that it was unable to reach a settlement agreement with Treasury of Puerto Rico), ASTI -7.7% (announced 1-for-10 reverse stock split), COCO -5.9% (disclosed it expects a $55-59 mln impairment charge; co also disclosed it continues to need to obtain additional sources of liquidity), BLMN -2.7% (negative Mad Money Mention), RWC -2.4% (following late strength on story that FBI has scuttled a contested $500 mln deal with Motorola), NES -1.7% (announced that VeroLube has proposed a reduction in the purchase price of Thermo Fluids to $145 mln from $175 mln), ROYT -0.9% (declared a September cash distribution of $0.11417 per unit, 14% below prior months distribution of $0.13234 per unit).
Analyst comments: ARCO -1.8% (downgraded to Neutral from Buy at BofA/Merril), SPG -0.4% (downgraded to Market Perform from Outperform at BMO Capital Mkts).