>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • SFLY -18.9%, (also updates strategic plan / restructuring in 2017; expects to incur 2017 restructuring charges of $15-20 million), EGOV -16.7%
  • MLNX -13.7%, CRUS -10.9%, RL -9.9%, (also announces CEO departure; Jane Nielsen to Lead Execution of the Way Forward plan), SBH -7.9%
  • PRXL -7.6%, NVO -7.5%, QRVO -6.9%, MTW -6.7%, LM -4.7%, DB -4.3%, XEL -4%, EW -3.9%, BBD -3.9%, KEX -3.8%, AZN -3.5%, MET -3.4%
  • SPH -3.3%, AOS -3%, TGI -2%, SYMC -1.9%, (also announces its intention to offer $1.0 billion aggregate principal amount of senior unsecured notes due 2025)
  • CSTM -1.8%, (also commences $625 mln offering of senior unsecured notes due 2025)
  • AGNC -1.7%, (also announces a $750 mln at-the-market offering of common stock)
  • IP -1.7%, VOD -1.4%, HOLX -1.2%, MDU -1.2%, EL -1.2%, CFX -1.1%, SNA -1%, NXTD -0.8%
Other news:
  • VNR -67.6% (files petitions for relief under chapter 11 of the U.S. Bankruptcy Code)
  • STML -34.4% (cautious comments from biotech blogger Adam Feuerstein)
  • AVIR -24.4% (announces top-line data from its double-blind, placebo-controlled Phase 2a study of BTA585 in adults challenged intranasally with respiratory syncytial virus; data indicate there was not a significant reduction in the primary endpoint )
  • CVEO -18.1% (Civeo commences an underwritten public offering of 20,000,000 common shares)
  • CBAY -13.5% (to offer and sell shares of its common stock; size not disclosed)
  • MNKD -8.6% (lower in extend trading after filing a proxy statement for an upcoming special meeting of stockholders under which it will seek approval to effect a reverse stock split )
  • FBP -7.4% ( commences 20 mln common stock offering -- 10 mln shares by funds affiliated with Thomas H. Lee Partners and 10 mln by Oaktree Capital )
  • CORI -3.8% (to offer shares of its common stock in an underwritten public offering)
  • CS -2.2% (in sympathy with DB)
  • AMAG -1.9% (announces results from its definitive PK study; Makena administered subcutaneously demonstrated bioequivalence to the IM injection)
  • LYG -1.2% (in sympathy with DB)
Analyst comments:
  • VFC -2.2% (downgraded to Neutral from Buy at Goldman)
  • JWN -1.9% (downgraded to Sell from Neutral at Goldman)
  • WNC -1.5% (downgraded to Neutral from Overweight at Piper Jaffray)
  • URI -0.9% (downgraded to Hold from Buy at Argus)