Gapping down
In reaction to disappointing earnings/guidance:
- OGI -4.3%
M&A news:
- CIR -22% (Crane Co. (CR) says will not extend its offer to acquire CIRCOR)
Other news:
- ETON -15.7% (provides update on EM-100 program; partner receives Complete Response Letter from FDA)
- TEVA -4.8% (Presidential candidate Joe Biden proposes a public option for health insurance for anyone who wants it and will give power to Medicare to negotiate drug prices
- EXEL -2.4% (announced that two original cohorts are being expanded and four new cohorts are being added to the protocol for COSMIC-021 in combination with atezolizumab in patients with locally advanced or metastatic solid tumors)
- BA -1.1% (737 Max 8 jets could be grounded until next year)
Analyst comments:
- CPE -12.5% (downgraded to Hold from Buy at Jefferies)
- IP -3% (downgraded to Underweight from Sector Weight at KeyBanc Capital Markets)
- WRK -2.8% (downgraded to Underweight from Sector Weight at KeyBanc Capital Markets)
- PKG -2.1% (downgraded to Underweight from Sector Weight at KeyBanc Capital Markets)
- SPR -2.1% (downgraded to Neutral from Outperform at Credit Suisse)
- LB -2% (downgraded to Neutral from Buy at Citigroup)
- GE -0.9% (downgraded to Neutral from Buy at UBS)
- PH -0.9% (downgraded to Sector Weight from Overweight at KeyBanc Capital Markets)