Gapping down
In reaction to disappointing earnings/guidance:
- UBS -5%, SWK -3.1%, BG -1.5%, JNJ -1.4%, HAL -0.8%, ATI -0.7%
Select financial related names showing weakness:
- RBS -3.6%, DB -3.4%, CS -1.5%, MS -1.1%, BAC -1%, GS -0.9%
Select Chinese stocks trading lower:
- WB -3%, BIDU -1.8%, BZUN -1.5%, JD -1.5%, MOMO -1.5%, BABA -1.4%
Select metals related names showing early weakness:
- FCX -3.3%, BHP -2.5% (production results) BBL -2.4%, RIO -1.9%
Other news:
- SDLP -15.3% (cuts quarterly distribution to $0.01/unit from $0.10/unit)
- TI -8.5% (Italy regulators have rejected plan for Telecom Italia (TI) to separate networks)
- PDD -5.1% (following discount voucher hack)
- SSW -4.4% (files for 52,810,939 Class A common share offering by selling security-holders)
- ALXN -3.7% (EU patent office revokes Soloris formulation patent)
- STNE -2.2% (releases Q4 Operational Metrics)
- PAAS -2% (reports FY18 silver production slightly below guidance)
- ABBV -1.7% (announces update on Phase 3 RESOLVE trial of ibrutinib (IMBRUVICA) in metastatic pancreatic cancer; study did not meet primary endpoint)
- GWPH -1.7% (files mixed securities shelf offering)
- MA -1.4% (fined EUR 570 mln by the EU for obstructing merchants' access to cross-border card payment services)
- PCG -1.1% (cont volatility)
Analyst comments:
- GPS -4.4% (downgraded to Sell from Neutral at Goldman)
- MO -2.3% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
- REVG -2.3% (downgraded to Neutral from Outperform at Credit Suisse)
- FTNT -1.7% (downgraded to Market Perform at BMO Capital Mkts)
- TIF -1.7% (downgraded to Neutral from Buy at Goldman)
- X -1.6% (downgraded to Hold from Buy at Jefferies)
- FHN -1% (downgraded to Underperform from Neutral at BofA/Merrill)
- PVH -0.8% (downgraded to Market Perform from Outperform at Cowen)
