Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- CTB -4.9%, FDC -3.8%, MNOV -3.3%, GRVY -2.3%, ARLP -1.7%, HSBC -1.3%
M&A news:
- LEN -4.5% (CalAtlantic Group (CAA) and Lennar (LEN) announce merger (80% stock and 20% cash), implied value of the stock consideration is $51.34 per share)
Other news:
- PSTI -14.2% (launches public offering of common stock on TASE)
- MRK -4.4% (withdrew its European application for KEYTRUDA)
- MNOV -3.3% (presents additional 'positive' top-line results from the SPRINT-MS Phase 2b Trial of MN-166 in progressive multiple sclerosis)
- LJPC -2.8% (files for $150 mln mixed securities shelf offering)
- CLSN -2.6% (continued weakness)
Analyst comments:
- ACHC -5.3% (downgraded to Neutral from Buy at Mizuho)
- AMD -3.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- UAA -3.4% (downgraded to Underperform from Neutral at BofA/Merrill)
- CENX -3.2% (downgraded to Neutral from Overweight at JP Morgan)
- GM -2.8% (downgraded to Sell from Neutral at Goldman)
- M -2.5% (downgraded to Sell from Neutral at Citigroup)
- JCP -1.3% (downgraded to Sell from Neutral at Citigroup)