Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- SCSS -18.4%, DXPE -17.1%, ( issues downside prelim Q3 sales guidance citing lagging sales during the month of July), TBI-14%, JAKK -13.5%
- MTW -11.6%, (reports prelim Q3 results with upside total sales but double digit decline in orders and backlog ), EBAY-8.6%, BJRI -7.5%, SBNY -6.4%
- PHM -4.4%, SYNT -4.2%, VZ -2.8%, TRV -2.7%, TSCO -2%, DNKN -2%, UNP -1.8%, CLB -1.6%, SXC -1.5%, STLD -1%,LAD -0.8%, PKG -0.7%
M&A news:
- IOC -0.8% (updates on the court approval process regarding the pending transaction with Exxon Mobil (XOM); Court of Appeal of Yukon has scheduled the appeal hearing to be heard on October 31)
Select oil/gas related names showing early weakness: LEI -2.3%, SDLP -1.9%, WLL -1%, MRO -1%
Other news:
Other news:
- RIGL -32.6% (announces results from the second FIT phase 3 study and the long-term open-label extension study for Fostamatinib in ITP; study did not meet its primary endpoint)
- ONVO -14.3% (commences an underwritten public offering of its common stock)
- PBYI -5.9% (prices 3.75 mln shares of common stock at $40.00 per share)
- HQY -2.7% (HealthEquity announces a 2.5 mln share underwritten secondary offering of common stock by stockholders )
- TPX -2% (SCSS sympathy)
- TSLA -1.3% (confirms that all Tesla cars being produced now have full self-driving hardwareg)
- SCTY -1.3% (likely in sympathy with TSLA)
- FMSA -1.1% (prices offering of 30.25 mln shares of common stock )
- RIO -0.8% (releases third quarter production results with 2016/2017 guidance )
Analyst comments:
- BUD -0.9% (downgraded to Hold from Buy at Societe Generale)
- WLTW -0.9% (downgraded to Sell from Hold at Deutsche Bank