Gapping down
In reaction to disappointing earnings/guidance:
- AVGO -9.2%, FNSR -0.4%
M&A news:
- ITI -6.9% (launches public offering of shares of common stock, acquires Albeck Gerken)
- VMW -0.4% (to acquire multi-cloud application delivery service company Avi Networks; not expected to have material impact on FY20 op results)
Semiconductor/technology stocks lower after Broadcom misses estimates and lowers guidance on broad-based slowdown in demand:
- QRVO -5.2%, STM -4.5%, ADI -3.6%, SWKS -3.3%, MRVL -3.1%, TXN -3%, MU -3%, XLNX -2.9%, SOXX -2.9%, SMH -2.6%, MXIM -2.5%, LITE -2.5%, NVDA -2.4%, AMD -2.4%, QCOM -2.3%, AMAT -2.3%, WDC -2.2%, LRCX -2%, INTC -1.9%, ON -1.8%, KLAC -1.8%, AAPL -1.1%, XLK -0.9%
Other news:
- MCRB -21.2% (prices offering at $2.25)
- WHF -4.8% (announces public offering by selling stockholders)
Analyst comments:
- ATRO -3.4% (SunTrust d/g to Sell)