Gapping down
In reaction to disappointing earnings/guidance:
In reaction to disappointing earnings/guidance:
- ORIG -28.7%, (continues to explore alternatives-will consider all options including restructuring plan through schemes of arrangement or under Chapter 11)
- ARRS -15.3%, (Arris and Broadcom announce that they have entered into an agreement for ARRIS to acquire Brocade Communication Systems Inc.'s (BRCD) Ruckus Wireless and ICX Switch business for cash consideration of $800 mln; expected to be accretive in first 12 mos)
- LB -13.8%, TSRA -13.5%, HBM -10.2%, JACK -9.4%, AFH -8.4%,SAM -6.8%, ELGX -5.8%, CSGP -5.5%, FMI -5.3%, HRL -4.8%, SGC -4.7%, CVEO -4.3%
- IRDM -3.8%, W -3.6%, EVA -3.4%, COMM -3.2%, QEP -2.7%, SAFM -2.6%, TSLA -2.4%, (also CFO stepping down to pursue position in public policy), WB -2.4%
- LGCY -2.4%, AAON -2.3%, BCS -2.1%, INOV -1.8%, SAGE -1.5%,CHSP -1.2%, LDOS -1.2%, SM -1.2%, CSAL -1.1%
Other news:
- CYCC -34% (Phase 3 SEAMLESS study in elderly patients aged 70 years or older with newly diagnosed acute myeloid leukemia did not meet its primary endpoint)
- CLD -8.8% (prices offering of 13,500,000 shares of common stock at $5.10 per share)
- APAM -5.6% ( commences 5,626,517 common stock offering)
- MYSZ -4.9% (discloses entry into Securities Purchase Agreement with an accredited investor)
- GPS -1.9% (following LB results)
- NTB -1.8% (prices a registered secondary offering by certain selling shareholders of 9,555,794 of Butterfield's voting ordinary shares at a price of $31.75/share)
- NGD -1.3% (announces bought deal financing for 53.6 mln common shares at $2.80/share)
- AKAO -0.8% (achieves a strategic milestone in their ongoing efforts to develop an assay enabling therapeutic drug management of plazomicin), .
Analyst comments:
- NVDA -3.8% (downgraded to Underperform from Market Perform at BMO Capital Markets)
- BLMN -2.1% (downgraded to Neutral from Outperform at Credit Suisse)
- LE -1.5% (downgraded to Hold from Buy at Craig Hallum)