Gapping down
In reaction to disappointing earnings/guidance:
- AMC -24.5%, (AMC Entertainment sees Q2 rev below consensus; sees net loss including write-down of National CineMedia (NCMI) investment; announces restructuring), MTSI -21.8%, RSYS -20.5%, BGFV -16.9%, COHR -14.2%, ULTI -13.9%, SSTK -13.7%, FARO -9.4%, PXD -8.2%, NANO -8.2%, AN -7.1%, SPWR -6.5%, UIS -6.3%, MTCH -6%, (also names Mandy Ginsberg to succeed Greg Blatt as CEO), MTCH -6%, MRCY -5.9%, RMD -5.9%, RMD -5.9%, ATRO -5.8%, FTR -5.6%, TRUP -4.7%, HLF -3.8%, (also promotes Dave Pezzullo to Chief Operating Officer), RIO -3.1%, EOG -2.9%, CSTE -2.7%, FISV -2.5%, SKT -2.1%, VOYA -1.9%, (also Voya Financial discloses entry into Master Agreement for Outsourced Services with Cognizant Technology Solutions), GLUU -1.5%, RRC -1.5%, SLRC -1.4%, (Solar Capital acquires NEF Holdings; co invested approximately $210 million to effect the transaction), RUBI -1.2%, ING -1.2%, CSU -1.1%, DVAX -1%
Other news:
- TVIA -58.4% (files voluntary Chapter 11 petitions to facilitate sale process with a commitment for DIP financing to support ongoing operations)
- TNXP -4.1% (discloses entry into Sales Agreement with Cowen and Company to sell shares of its Common Stock having an aggregate offering price of up to $9 mln)
- RGC -2.8% (following AMC guidance)
- DKS -1.3% (following BGFV results)
- WAC -0.7% (entered into a Restructuring Support Agreement with its senior lenders holding more than 50% of the loans and/or commitments outstanding)
- COST -0.5% (announces death of co-founder and Chairman of the Board Jeff Brotman)
Analyst comments:
- UAA -0.6% (downgraded to Neutral at Citibank)