Gapping down
In reaction to disappointing earnings/guidance:
- FRAN -27.8%, SONO -16.7%, LMNR -16.5%, MTRX -15.5%
M&A news:
- YUMC -12.3% (Hillhouse Capital consortium said to be abandoning efforts to acquire Yum China, according to Bloomberg)
- SD -9.1% (completes strategic review process; to move forward with development and growth plan)
Other news:
- USAT -18.6% (to delay FY18 Form 10-K filing -- Audit Committee in process of conducting internal investigation of current and prior period matters)
- PACB -6.6% (proposed public offering of common stock; offering size not disclosed)
- NNBR -5.5% (announces public offering of 12.5 mln shares of common stock)
- ECYT -4.7% (Endocyte proposes $175.0 mln public offering of common stock and files for mixed securities shelf offering)
- PSX -2.5% (Berkshire Hathaway [BRK.A / BRK.B] lowers passive stake)
- NXPI -2% (initiates dividend program with initial interim dividend for Q4 of $0.25 per ordinary share that will be paid on Oct 5 to shareholders of record as of Sept 25)
- PODD -1% (promotes Shacey Petrovic to CEO; Patrick Sullivan will retire as Chairman and CEO at the end of 2018; reaffirms guidance provided August 2)
- AABA -0.9% (Altaba to sell all of the shares of Yahoo Japan that it currently holds to certain managers at a price of JAP 354 per share)
Analyst comments:
- MNK -4.7% (downgraded to Sell from Neutral at Goldman)
- CNX -2.1% (downgraded to Sell from Neutral at Goldman`)
- TSLA -1.9% (downgraded to Neutral from Buy at Nomura)
- WING -1.9% (downgraded to Neutral from Buy at Goldman)
- WDC -1.6% (downgraded to Sector Perform from Outperform at RBC Capital Mkts)
- CBS -1.3% (downgraded to Neutral from Buy at UBS)
- JCI -1.3% (downgraded to Neutral from Buy at UBS)