Gapping down
In reaction to disappointing earnings/guidance:
- KFY -5.7%, CGC -5.6%, NUAN -1% (accelerates exit of non-core Subscription Revenue Services business, updates guidance), FWRD -0.8%
Other news:
- LKSD -17.7% (DOJ sues to block Quad's [QUAD] acquisition of LSC Comm)
- BYND -5.6% (ongoing volatility)
- EXEL -4.2% (Exelixis was informed by its collaboration partner Roche's [RHHBY] Genentech that IMspire170 did not meet its primary endpoint)
- SEE -3.7% (terminates CFO William Stiehl for cause effective immediately and appoints James Sullivan as new CFO effective June 24; reaffirms outlook)
- TLRY -2.9% (after closing 10% higher on the day)
- ARE -2.4% (prices upsized public offering of 3.85 mln shares of common stock at a price of $145.00 per share)
- PYPL -2.2% (announces planned departure of COO Bill Ready)
- BXMT -1.7% (prices underwritten public offering of 7.5 mln shares of its class A common stock for gross proceeds of approximately $270 mln)
- INVH -1.4% (prices secondary offering of 37.5 mln shares of common stock by certain selling stockholders)
Analyst comments:
- CCL -4.5% (downgraded to Equal Weight from Overweight at Barclays)
- CAT -1.0% (downgraded to Underweight from Neutral at Atlantic Equities)
- SWK -0.9% (initiated with an Underperform at BofA/Merrill)