Gapping down
In reaction to earnings/guidance:
- MGI -17%, VTRS -10.1%, ATO -4.4%
M&A news:
- FAII -13.6% (Advent International-backed ATI Physical Therapy set to go public through business combination with Fortress Value Acquisition Corp. II)
- GT -3.9% (Cooper Tire to be acquired by Goodyear Tire & Rubber (GT) in cash and stock deal for implied consideration of $54.36 per share)
- NGAC -0.9% (NextGen Acquisition Corp. has entered into a definitive business combination agreement that will result in Xos becoming a publicly listed company)
Select index ETFs showing weakness:
- QQQ -1.4%, IWM -0.9%, SPY -0.8%, DIA -0.6%
Other news:
- OTIC -52.5% (announces that the Phase 3 clinical trial of OTIVIDEX in patients with Ménière's disease did not achieve the primary endpoint, which was the count of definitive vertigo days in Month 3 for OTIVIDEX vs. placebo for the intent-to-treat population using the Negative Binomial Model)
- EBIX -32% (informs market of resignation of co's independent registered public accounting firm)
- PBR -16.6% (discloses it informs that it received a letter from the Ministry of Mines and Energy, requesting measures to convene an extraordinary general meeting in order to promote the election and replacement of a Board of Directors member, and to appoint Joaquim Silva e Luna to replace Roberto da Cunha Castello Branco)
- MOGO -12.1% (prices At-the-Market direct offering of 5,346,536 common shares at a purchase price of $10.10 per common share)
- CDXC -6.1% (entered into a securities purchase agreement for the sale of $25.0 mln of its common stock in a private placement)
- EVGN -3.6% (files for $200 mln mixed securities shelf offering)
- VLDR -3.4% (announces that Dr. Joseph B. Culkin, who has served as a member of Velodyne Lidar's Board of Directors since September 2016, has been appointed Chairman of the Board, effective immediately, succeeding David Hall)
- BA -2.8% (United (UAL) BA 777 flight experienced an engine problem)
- DIS -1% (report that NFL wants a 100% price increase, according to CNBC)
Analyst comments:
- SPWR -4.9% (downgraded to Underperform from Neutral at Credit Suisse)
- USM -2.5% (downgraded to Neutral from Overweight at JP Morgan)
- FTI -2.1% (downgraded to Equal Weight from Overweight at Barclays)
- CRON -2% (downgraded to Neutral from Sector Outperform at CIBC)
- TDS -1.9% (downgraded to Neutral from Overweight at JP Morgan)
- PSX -1.5% (downgraded to Neutral from Overweight at JP Morgan)
- VMI -1.4% (downgraded to Perform from Outperform at Oppenheimer's Kansas City Capital)