Gapping down
In reaction to disappointing earnings/guidance:
- GGG -10.9%, PII -7.3%, RMBS -6.7%, MET -6.3%, SMG -5.8%, HOG -5.3%, DHR -4.6%, JVA -4.1%, IDTI -3%, RGA -2.6%, SNHY -2.4%, (also commenced an underwritten public offering of 4 million shares of common stock), WERN -2.4%, AET -2.4%, SANM -2.3%, CVTI -1.8%, CNHI -1.8%, PFE -1.6%, EAT -1.6%, AOS -1.3%, PFG -0.7%
M&A news:
- MXIM -9.9% (Renesas (RNECF) spokesperson has denied reports that it is in talks to acquire MXIM)
Select Health/Ins provider related names showing weakness after JPM, AMZN and BRK.B healthcare partnership news:
- UNH -6.5%, CVS -5.7%, CI -5.3%, CNC -5.2%, ANTM -5.1%, MOH -4.1%
Other news:
- EARS -18.9% (entered into a securities purchase agreement with investors providing for the purchase and sale of 12,499,999 common shares at a price of $0.44 per share), UCTT -7.3% (commenced an underwritten public offering of approximately $100 mln of its common stock; intends to disclose in connection with the offering former shareholder dispute), VTGN -6.5% (Issues Letter to Stockholders as Company Prepares to Initiate AV-101 Phase 2 Study for Major Depressive Disorder ), PE -5.8% (Parsley Energy expects 4Q17 net production of 80-81 MBoe per day and 51-52 MBo per day), AMRN -5.7% (commences offering of ADS), SLNO -2.8% (files for 14,165,541 share common stock offering by stockholders including 6,024,425 warrant shares that may be purchased upon exercise of issued and outstanding warrants), ITUS -2.7% (after making notable pull back - down 30% on Monday), GPOR -2.2% (provides Q4 update; budgets 2018 CapEx of $770-835 mln and approves $100 mln stock repurchase program ), CBAY -1.7% (commences underwritten public offering of common stock), .
Analyst comments:
- GRUB -3% (downgraded to Underweight from Equal Weight at Barclays)
- SWN -1.7% (downgraded to Underperform from Mkt Perform at Raymond James)
- LUV -1.6% (downgraded to at )
- X -1.6% (initiated with a Sell at Vertical Group)
- HZN -1.5% (downgraded to Market Perform from Outperform at BMO Capital Markets)
- ALK -1.4% (downgraded to Underweight from Neutral at JP Morgan)
- CL -1.1% (downgraded to Underperform from Outperform at Exane BNP Paribas)