Exclusive: Snap Partners With Ralph Lauren to Create Bitmoji Wardrobe
The partnership is the first to exist within Snapchat and the Bitmoji app.
Ralph Lauren is coming to Bitmoji closets.
The brand has partnered with Snap to create a virtual wardrobe for Bitmoji, an application in which users create avatars of themselves. The collaboration will launch with Ralph Lauren-branded clothing, with which Bitmoji users can dress their avatars. It is the first partnership of its kind to exist within Snapchat and the Bitmoji app.
In a statement to WWD, Alice Delahunt, Ralph Lauren’s chief digital officer, said the partnership blends Ralph Lauren’s “respected reputation” with Snap’s “expansive reach to a younger consumer.”
“We feel inspired to explore disruptive ways to tell our brand’s story, drive social commerce and engage with a new generation in an authentic and empowering way,” Delahunt said.
Selby Drummond, head of fashion and beauty at Snap, called the partnership, in a statement to WWD, “an expansive and holistic venture to bring the Ralph Lauren brand into the digital world.”
Ba Blackstock, chief executive officer of Bitmoji, said the company’s partnership with Ralph Lauren will “help shape the future of digital fashion by connecting our community with the brands they love.”
Ralph Lauren’s collaboration with Snap and Bitmoji will launch with 12 branded and customizable looks — six men’s and six women’s — with which Snapchat users can dress their Bitmoji avatars in-app. The pieces include double-breasted blazers, a racer jacket, a striped rugby shirt and a track jacket. Polo Shirts in the Bitmoji closet will be branded with Ralph Lauren’s signature logo over the next six months.
London’s Designers Battle to Rebuild Businesses in Testing Times
British brands of all sizes are suffering from shrinking sales, desolate shop floors and a lack of international tourists. Restructuring is proving painful, but they're pressing ahead.
By Samantha Conti on August 6, 2020
LONDON — Usually, at this time of year, Emma Davidson of the luxury fashion recruitment firm Denza would be looking to fill 50 jobs on behalf of her corporate clients.
Right now, she’s looking to fill exactly 11 posts, and is inundated with CVs from prospective candidates, who are willing to drop down the management ladder, take a pay cut, and relocate if it means finding work. She said they’re no longer as picky as they were in January.
As soon as COVID-19 began sweeping across Asia, and later into Europe and North America, companies first put the brakes on recruitment, then they sent workers home. With stores shut for months during lockdown, shoppers wary of spending, and the future uncertain, these companies are now shedding jobs.
“Everybody is streamlining, and headcount is the one place where companies can save money quickly. There are a lot of unemployed designers, product developers and atelier staff out there. It’s heartbreaking to see the numbers of people out of work,” said Davidson, who is Denza’s managing director, in an interview.
Joanne Yulan Jong, founder of the strategic fashion consultancy Yulan, said that right now “there is pain on every level, from the top down.”
She said her wish is that this current cull of creative and commercial roles won’t have a long-term impact on the fashion business. “I hope we don’t lose all the expertise, the people who’ve been in this business for 20 or 25 years,” Jong said.
London-based companies of all shapes and sizes have been ravaged by the coronavirus: In the last month alone, brands including Burberry, Mulberry, Stella McCartney, Victoria Beckham and Christopher Kane have all set plans to restructure, and lay off staff.
Kane said that “as a business, COVID-19 has had material impact on both our retail and wholesale channels. We are still adapting, and like many other companies have had to make redundancies across all departments to reduce costs.”
Pringle shut down in April, while Peter Pilotto and Henry Holland both decided to step away from their businesses just before the pandemic struck the U.K.
Roland Mouret remains open, and is currently looking for outside investment, up to 50 percent of the business.
The brands aren’t the only ones in trouble: Shortly after they reopened their doors on June 15, the big fashion and luxury retailers Harrods and Selfridges said they would slash 14 percent of their respective workforces, while Harvey Nichols also revealed plans to cut jobs.
In early August, Thomas Pink, the high-end shirt maker owned by LVMH Moët Hennessy Louis Vuitton, said it would close its Jermyn Street St. James’s store as it pivots the business to online.
The U.K.’s Centre for Retail Research expects 20,620 stores to be closed this year, 27 percent more than in 2019, while job losses caused by a combination of store closures and businesses slimming down their workforces should total 235,704, 61.5 percent higher than last year.
In a letter to staff outlining the layoffs, Selfridges group managing director Anne Pitcher said recovery from the pandemic would be slow, with sales this year forecast to be “significantly less” than in 2019.
“It will, without doubt, be the toughest year we have experienced in our recent history,” Pitcher said.
A few weeks earlier, Michael Ward, managing director of Harrods, had said it would take “time and a drastic improvement in external conditions” for the store to recover and return to growth.
Social distancing measures, he added, are having a “huge impact” on Harrods’ ability to trade, “while the devastation in international travel has meant we have lost key customers. This recovery will take longer than any of us would like.”
As bleak as this moment may be, some companies are bearing down and attempting to grow business at home and abroad, even as managers take pay cuts or renounce their packets altogether — at least until business improves.
Burberry plans to shed 500 jobs and make other savings, but it’s still gone ahead and opened a new-concept store in Shenzhen, China, with Tencent as the digital partner. In late June, Kane debuted a bridal collection at his Mount Street store, with gowns, tuxedos — and hoodies — for pre- and post-wedding events, while Harrods opened its first outlet at Westfield, to carry sale items.
Beckham plans to make fewer collections, and is laying off about 20 staff members, but that didn’t delay her from debuting Victoria Beckham Beauty in China on Alibaba’s Tmall Global. Beckham herself led the marketing efforts via a livestream Q&A session with Viya, one of China’s biggest influencers. The event generated more than 1 million renminbi, or $143,000, of sales in five minutes, according to the company.
McCartney may be restructuring her business, and not taking a paycheck, but that didn’t stop her from sticking to her one of her core messages, female empowerment.
In July she organized a debut digital festival, Stellafest, aimed at raising money to help end violence against women. The festival, where the likes of Taylor Hawkins, Brian Wilson, Kelis, Zuri Marley and Mademoiselle Yulia performed, was accompanied by a charity auction in aid of the National Network to End Domestic Violence.
Burberry, Kane, Beckham and McCartney are four of London fashion’s biggest names, but many in the industry would argue that it doesn’t take multimillions of pounds, or a well-known brand name, to find opportunities for growth — and creation — in times like these.
Designers and managers just need to get real.
“We haven’t seen the worst, or how COVID-19 will impact employment, and no one has a view on where this will end,” said Christopher Suarez, a fashion entrepreneur and brand manager who most recently cofounded the London-based clothing label Ssōne with the designer Caroline Smithson.
He believes the way forward for smaller brands in particular is to dial back business, get rid of expensive factories and start thinking about letting others carry the costs through licensing and franchise deals.
As a small business, he said, “you don’t have to own everything, you don’t have to go up against Amazon. Work on building your brand equity, take the business forward with partners — and then you can always buy it back.”
To wit, Stella McCartney’s company, which counts LVMH, said that as part of the firm’s restructuring, it planned to turn some of its stores into franchises, or shut them and strike new wholesale partnerships instead.
Suarez argues that, in the past, some small businesses made the mistake of scaling too quickly, obsessing over growth, living beyond their means, and thinking that if Prada or Gucci were doing something, they should be doing it, too.
As these smaller businesses attempt to restructure in a post-COVID-19 environment, he said they need to be resourceful and ask simple questions, such as: How do we get our creative ideas into the hands of the consumer?
He believes that now is the time to be thinking about “de-growth” and rebuilding, a moment for managers to step up, and work with creatives to breathe new life into businesses.
Jong of Yulan Creative believes that in an unusually brutal environment such as this, brands need to go back to basics, focus on their “bread-and-butter” items, and “hit the market where it needs you most.”
Businesses, she said, need to be data-driven, digitally minded and reliant on their specific and unique DNA, while designers need to think of themselves as “product people. Because that is what a business is based on — delivering and selling product.”
Davidson of the luxury recruitment firm Denza said that while it may be hard to map a way out of this particular crisis, it will end, and business will bounce back.
She said she witnessed the same panic in 2008, when the financial crisis struck. “Floods of people were being made redundant. Their e-mails looked exactly the same as now. Bu this can’t go on forever. Like flares, business has got to come back.”
JPMorgan strategists say they now prefer U.S. equities over their non-American rivals.
The sharp weakening of the dollar over the past month makes U.S. assets more attractive to foreign investors and, at the same time, it creates a growth headwind for non-U.S. equities, say analysts led by Nikolaos Panigirtzoglou.
The dollar index has dropped nearly 4% over the last month.
Another factor they find is that investors have largely covered their shorts on non-U.S. equities.
“The bulk of the previous short base that had opened up during February and March across euro area, U.K. and Japanese stocks appears to have been largely normalized. It is only in emerging markets stocks that there is some remaining short base, around 20% of that opening up during February and March, left to be covered,” they say. Virus news, they add, no longer benefits non-U.S. stocks.
“Different to flu, it looks like the virus does not exhibit a seasonal or other pattern and is rather persistent. This could require persistence and discipline in social distancing without necessarily the need for reimposition of more stringent lockdowns which are economically more costly. On the positive side, the lack of a seasonal pattern by the Covid-19 might also mean that fears of a big second wave coming in winter months in the Northern Hemisphere are exaggerated,” they say.
They say their pro-risk view is supported by the improvement in growth indicators, which have been surprising to the upside in recent months.
Second-quarter earnings reporting season hasn’t only delivered a big upward surprise of close to 17% in terms of earnings-per-share growth in the U.S. and Europe, but also triggered a wave of positive revisions for 12-month forward earnings forecasts, they add.
The U.S. S&P 500 has climbed 3% this year, while the MSCI All-Country world index has been steady.
Government bonds, they add, are vulnerable to potential changes in the bond supply/demand balance in the second half of the year.
The July jobs report, due out Friday morning, may show that the U.S.’s nascent economic recovery from the coronavirus contraction has already gone into reverse. That would fit with the data we have from other government and private-sector sources, which imply that the resurgence of the viral outbreak since mid-June has reduced economic activity.
The first thing to note is that the total number of Americans receiving unemployment benefits has been essentially flat, at around 30 million to 32 million, since the end of May. The rising number of workers collecting benefits between mid-April and late May turned out to be a poor indicator of the state of the labor market because processing backlogs meant that people who should have been receiving benefits by the time of the April jobs report weren’t getting what they were owed until weeks later. Those problems should have been mostly resolved by now, however, so the stubbornly high levels of jobless claimants could imply that the recovery from May and June has stalled out.
No ImprovementThe number of Americans receiving unemployment insurance benefits has beenessentially flat since the end of May.Number of UI recipients (excluding short-time compensation)Source: U.S. Employment and Training Administration
Monthly private-sector business surveys also suggest that the job market has stalled. While the IHS Markit composite survey found that “private sector firms increased their workforce numbers in July” thanks to rising services employment offsetting falling manufacturing employment, the Institute for Supply Management’s Report on Business indicates that service-sector employment ticked lower in July compared with June, while manufacturing employment improved.
ADP’s reading of private payroll growth, which came out on Wednesday, is also consistent with a faltering job market in July.
Then there are the daily cellphone location data from Google. Relative to the pre-virus norm, the number of Americans going to workplaces fell by about half between mid-March and mid-April. (Actual employment fell far less because many Americans have been working from home.) Google’s indicator recovered steadily through May until about mid-June, which would line up with the reference week used to inform that month’s jobs report. Since then, however, physical workplace attendance has stopped rising and has actually ticked slightly lower. That coincides with the tripling in the number of new confirmed Covid-19 cases per week and the doubling of the number of Americans hospitalized with the virus.
Not Going Back to WorkGoogle's cellphone location data imply that the number of Americans spending time inoffices and other workplaces has dropped since the last jobs report.Deviation from previrus baseline (7-day average)Sources: Google; Barron's calculationsNote: Excludes Memorial Day and July 3
Meanwhile, the Real-Time Population Survey, produced by economists at Arizona State University, Virginia Commonwealth University, and the Federal Reserve Bank of Dallas, also implies that employment fell sharply in July. Ronnie Walker at Goldman Sachs estimates that “current household employment has fallen by roughly one million since the June survey week.”
The most pessimistic warning comes from the U.S. Census Bureau’s weekly Household Pulse Survey, which started collecting data in late April. (The final survey ran from July 16-21.) Unlike most forecasters, the weekly survey did a good job predicting the large employment gains in the June jobs report. Since then, however, the weekly data imply that employment has dropped by almost 5 million workers. The data series is experimental and has no seasonal adjustments, although the historic pattern is that employment tends to rise between June and July before seasonal adjustments kick in.
Is the Worst Yet to Come?The Census Bureau's experimental Household Pulse Survey implies that roughly 5million Americans lost their jobs in July as the viral outbreak worsened.Americans with a jobSources: Bureau of Labor Statistics; Census Bureau; Barron's calculationsNote: Monthly data include workers under 18, weekly is 18+
The 5 million drop in employment unsurprisingly corresponds to an increase of roughly 5 million adults who aren’t working. The number “laid off due to coronavirus pandemic” has grown by 2 million, while another 440,000 have stopped working because their employer went out of business. About 3.3 million adults have stopped working because they are sick. The continuing decline in the number of workers on temporary furlough has partly offset these negative trends, but not nearly enough.
The Recovery ReversesThe number of Americans without a job rose by 5 million since mid-June, with all of theincrease coming from layoffs and illness.Cumulative change in nonemployment among Americans 18+ since June 16Sources: Census Bureau; Barron's calculations
None of this is to say that the Bureau of Labor Statistics will show millions of jobs were lost in July when the numbers come out on Friday. But the data so far imply that the robust job gains of May and June are likely a thing of the past.
Gapping down
In reaction to disappointing earnings/guidance:
- OSUR -19.8%, CENX -17.6%, FSLY -17.3%, SONO -12.6%, ADT -11.2%, WDC -10.8%, WIX -10.8%, INSG -10.1%, DDD -9.4%, LASR -9.2%, SPT -7.8%, OLN -7.3%, PTCT -7.2%, BDX -6.9%, BCRX -6.7%, HMHC -6.7%, ZIXI -6.5%, CWH -6.2%, WTRG -6.1%, XRAY -6.1%, TXMD -5.9%, MNLO -5.7%, GCI -5.4%, MUR -5.4%, CVNA -5.2%, LNC -4.6%, STAA -4.5%, ROKU -4.5%, RMD -4.4%, SPWR -4.3%, NCLH -4.2%, AEL -4.1%, ET -4.1%, CDAY -4%, FRT -4%, MRO -3.8%, CTVA -3.7%, SERV -3.7%, TWO -3.6%, HII -3.5%, MET -3.4%, ALRM -3.4%, CUB -3.2%, FTDR -3%, ADNT -3%, OBSV -3%, SUN -2.8%, FATE -2.6%, HR -2.6%, NVRO -2.5%, HLT -2.4%, SGMO -2.3%, MMS -2.1%, ENDP -1.9%, CXW -1.9%, SRPT -1.8%, STNG -1.8%, PGNY -1.5%, QTWO -1.5%, NVO -1.5%, PLUG -1.5%, LHCG -1.3%, PE -1.3%, CERC -1.3%, LYV -1.2%, PZZA -1.2%, MYL -1.1%, ZTS -1.1%, CRON -1.1%, ATSG -1%
Other news:
- APRN -18.2% (prices offering of 4 mln shares of common stock at $9.25 per share)
- RIG -7.5% (announces commencement of internal reorganization transaction)
- CCL -6.3% (Carnival and Carnival plc (CUK) prices equity offering and repurchase of convertible notes)
- STRA -5.8% (stock offering)
- TWOU -5.8% (prices offering of 6.8 mln shares of common stock at $45.50 per share)
- HZNP -3.8% (stock offering)
- SLP -3.8% (prices offering of 1,818,182 shares of common stock at $55.00 per share)
- CUK -3.4% (Carnival and Carnival plc (CUK) prices equity offering and repurchase of convertible notes)
- TWLO -2.4% (stock offering)
- W -2.1% (stock offering)
- CXW -1.9% (to revoke its REIT status and become a taxable C corp)
- OXY -1.1% (Carl Icahn increases holding and discloses 10.73% active stake)
Analyst comments:
- CDAY -3.9% (downgraded to Neutral from Sector Outperform at CIBC)
- GIII -3.8% (downgraded to Underweight from Equal Weight at Barclays)
Gapping up
In reaction to strong earnings/guidance:
- APPS +18.5%, OTRK +17.8%, AVXL +16.5%, BFAM +13.2%, VSTO +12.4%, INFN +12.2% (also says CEO to step down), ELF +11.1%, DCP +11.1%, AMAG +10.6%, EMKR +10.2%, PVG +10%, PVG +9.9%, HI +9.4%, NTLA +9.4%, COLL +9.2%, TRMB +8.4%, GLRE +8.4%, COMM +8.4%, GDDY +8.2%, VIACA +8.1%, MAXR +8%, HIMX +8%, HUBS +7.9%, NICE +7.9%, YETI +7.5%, MTW +7% (also names new CEO), VVI +7%, HEAR +7%, GMED +6.7%, TAST +6.1%, UHAL +5.5%, NTRA +5.5%, JLL +5.1%, DOX +5%, CHNG +5%, RCII +5%, ING +5%, ZNGA +4.9% (also to acquire mobile game developer Rollic), STFC +4.9%, JACK +4.8%, GBT +4.6% (also files for $200 mln mixed securities shelf offering ), IRM +4.5%, MDWD +4.4%, PRVB +4.4%, NUS +4.2%, ECPG +4.1%, CFX +4%, IBP +4%, CTL +3.9%, BMY +3.9%, CPA +3.8%, MATX +3.6%, OR +3.5%, KTB +3.5%, ATNX +3.5%, DAR +3.4%, FISV +3.2%, CCMP +3.1%, PH +3%, TTEC +2.9% (also to acquire VoiceFoundry), ENSG +2.8%, NOMD +2.8%, SRCL +2.8%, VG +2.8%, IAG +2.7%, INSM +2.7%, PAAS +2.6%, BTG +2.6%, PK +2.6%, GLMD +2.6%, OUT +2.5%, ACIW +2.5%, AMRX +2.5%, SWIR +2.5%, ABMD +2.5%, HL +2.3%, FNV +2.1%, SILK +2%, AES +2%, SEE +2%, TWNK +1.9%, TM +1.9%, VOYA +1.8%, ACRE +1.8%, KRO +1.7%, VSLR +1.6%, PDCE +1.6%, ANIP +1.6%, TEN +1.6%, FOUR +1.6%, MWA +1.5%, BNFT +1.5%, ACAD +1.5%, KBR +1.5%, FLIR +1.5%, KBR +1.4%, EAF +1.4%, TRGP +1.4%, NMIH +1.3%, EPAM +1.3%, KELYA +1.3%, WELL +1.2%, PRMW +1.1%, ECOM +1%, .
Other news:
- AVCT +99.6% (RBBN to divest Kandy Comms to AVCT)
- BHC +23.6% (intends to spin off its leading eye health business into an independent publicly traded entity ("Bausch + Lomb - NewCo") from the remainder of Bausch Health)
- AVXL +14.9% (receives TGA Special Access Scheme approval for ANAVEX 2-73 for Alzheimer's)
- MNOV +12.4% (announced that Principal Investigator, Lara Ray, PhD presented the results of the Ibudilast and Alcohol Use Disorder Phase 2 trial at the American Psychological Association 2020 Annual Convention held online)
- LEGN +6.5% (announces recommended Breakthrough Therapy Designation for ciltacabtagene autoleucel in China)
- RBBN +5.3% (RBBN to divest Kandy Comms to AVCT)
- CNTY +4.5% (to sell casino operations of Century Casino Calgar
- PGEN +4.3% (reports six-month follow-up data from Phase I study of INXN-4001)
- KBH +3.7% (reports acceleration in net order growth through Jun-July)
- AVEO +3.6% (announces receipt of $2.8 mln milestone from Kyowa Kirin)
- SPCE +2.2% (prices offering of 23.6 mln shares of common stock at $19.50 per share)
- RDNT +2.1% (RadNet and Hologic, Inc. (HOLX) enter into a definitive collaboration to advance the use of artificial intelligence in breast health)
- SRDX +1.6% (receives FDA 510k clearance for catheter)
Analyst comments:
- TDOC +4.6% (upgraded to Buy from Hold at Truist)
- SUM +2.6% (upgraded to Overweight from Neutral at JP Morgan)
- GNRC +1.5% (upgraded to Buy from Neutral at BofA Securities)
- AIG +1.3% (upgraded to Buy from Neutral at BofA Securities)
Early premarket gappers
- Gapping up:
- AVCT +121.1%, AVXL +29.2%, APPS +25.2%, OTRK +23.6%, BFAM +13.2%, INFN +12.4%, ELF +10.8%, EMKR +10.2%, YETI +9.6%, TRMB +8.4%, GLRE +8.4%, HIMX +7.1%, MAXR +7%, MTW +7%, VVI +7%, COLL +6.9%, HUBS +6.8%, LEGN +6.5%, GDDY +6.3%, HI +6.3%, PVG +6.2%, GMED +5.6%, UHAL +5.5%, FISV +5.5%, NTRA +5.5%, COMM +5.5%, BMY +5.4%, CHNG +5%, RCII +5%, STFC +4.9%, JACK +4.8%, PK +4.2%, NUS +4.2%, DCP +4.2%, KBH +4.1%, ECPG +4.1%, STNG +3.9%, AVEO +3.8%, CTL +3.7%, EAF +3.7%, EPAM +3.7%, MATX +3.6%, OR +3.5%, DAR +3.4%, HL +3.4%, ACAD +3.1%, CCMP +3.1%, BTG +3%, TTEC +2.9%, ENSG +2.8%, WTRG +2.8%, NOMD +2.8%, IAG +2.7%, PRMW +2.7%, OUT +2.5%, ACIW +2.5%, SWIR +2.5%, ZNGA +2.3%, QSR +2.2%, VER +2.1%, SILK +2%, OHI +1.9%, TWNK +1.9%, COST +1.8%, ACRE +1.8%, KRO +1.7%, SRDX +1.6%, PDCE +1.6%, ANIP +1.6%, PFE +1.5%, MWA +1.5%, CPA +1.5%, BNFT +1.5%, CHX +1.4%, IMMU +1.4%, KBR +1.4%, GTN +1.4%, KTB +1.4%, TRGP +1.4%, NMIH +1.3%, TM +1.2%, WELL +1.1%, IRM +1.1%, NICE +1.1%, DOX +1%, LGIH +1%, ATSG +1%, FNV +1%, PRI +1%, PZZA +0.9%
- Gapping down:
- OSUR -19.1%, FSLY -18.1%, CENX -15.2%, APRN -14.9%, SONO -11.4%, WIX -11%, WDC -10.9%, RGLD -10%, CUB -9.6%, ADT -9.2%, LASR -9.2%, INSG -8.8%, STRA -8.5%, CWH -8.3%, STAA -7.6%, PTCT -7.2%, ZIXI -6.4%, RMD -5.9%, OLN -5.8%, RIG -5.5%, MUR -5.4%, RBBN -5.3%, TWOU -5.3%, DDD -5.2%, SPT -4.6%, AEL -4.1%, XRAY -4%, ROKU -3.9%, CTVA -3.7%, OBSV -3.7%, CVNA -3.5%, MET -3.4%, ALRM -3.4%, HZNP -3.3%, CXW -3.3%, FTDR -3%, LNC -2.7%, LSCC -2.6%, CDAY -2.6%, FIT -2.6%, HR -2.6%, AES -2.6%, FATE -2.3%, ET -2.2%, MMS -2.1%, TWLO -1.9%, HLT -1.9%, SRPT -1.8%, SPWR -1.7%, SUN -1.6%, PGNY -1.5%, QTWO -1.5%, SGMO -1.3%, LHCG -1.3%, AMRX -1.3%, LYV -1.2%, GBT -1.2%, NVO -1.2%
After Hours Summary: OSUR -18.2%, FSLY -14%, SONO -12.3%, WDC -11.9%, CUB -9.6% down sharply on earnings; APPS +17.9%, GMED +8.7%, TRMB +8.4% up on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: APPS +17.9%, OTRK +14.4%, DCP +11.9%, ELF +10.8%, GMED +8.7%, TRMB +8.4%, GLRE +8.4%, MTW +7% (also names new CEO), COLL +6.8%, HI +6.3%, HUBS +6.3%, BFAM +6.1%, MAXR +6.1%, INFN +5.5% (also says CEO to step down), NTRA +5.5%, CHNG +4.7%, ZNGA +4.5% (also to acquire mobile game developer Rollic), JACK +4.2%, NUS +4.2%, ECPG +4.1%, MATX +3.6%, CTL +3.5%, QTWO +3.5%, DAR +3.4%, EPR +3.4%, GDDY +3.4%, CCMP +3.1%, WTRG +2.8%, ENSG +2.7%, PK +2.6%, ACAD +2.2%, FISV +2%, SILK +2%, OHI +1.9%, KRO +1.7%, ALB +1.6%, PDCE +1.6%, UHAL +1.6%, BNFT +1.5%, BTG +1.5%, PAAS +1.3%, NMIH +1.2%, CF +1.1%, MFC +1.1%, WELL +1.1%, DOX +1%, KBR +1%, BLDP +0.9%, OUT +0.8%, VOYA +0.5%, IMMU +0.4%, CPA +0.2%, IAG +0.2%, ATO +0.1%, HCC +0.1%, MWA +0.1%
Companies trading higher in after hours in reaction to news: AVCT +62.8% (RBBN to divest Kandy Comms to AVCT), AVXL +31% (receives TGA Special Access Scheme approval for ANAVEX 2-73 for Alzheimer's), AVEO +5% (announces receipt of $2.8 mln milestone from Kyowa Kirin), BMY +4.7% (ticks higher as word circulates of a potential favorable Eliquis patent ruling), LEGN +3.4% (announces recommended Breakthrough Therapy Designation for ciltacabtagene autoleucel in China), KBH +2.7% (reports acceleration in net order growth through Jun-July), SRDX +1.6% (receives FDA 510k clearance for catheter), COST +1.5% (reports July comps +13.2%), PFE +1.5% (ticks higher as word circulates of a potential favorable Eliquis patent ruling), MAC +1.4% (files mixed securities shelf offering), LGIH +1.1% (reports July home closings), DOX +1% (expands agreement with Orange Liberia), UBER +0.8% (California's Labor Commissioner files lawsuits against UBER and LYFT), NVS +0.3% (announces publication of Phase III ASCLEPIOS trials data), AJX +0.2% (stock offering), OXY +0.1% (Carl Icahn increases holding and discloses 10.73% active stake)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: OSUR -18.2%, CENX -14.2%, FSLY -14%, SONO -12.3%, WDC -11.9%, CUB -9.6%, SPT -9.2%, INSG -8.8%, DDD -8.3%, ZIXI -7.7%, STAA -7.6%, CWH -7.2%, ADT -7%, OLN -7%, PTCT -6.6%, RMD -6.4%, LNC -6.3%, ZGNX -5.6%, LASR -5.4%, ROKU -4.8%, MET -4.7%, TWO -3.9%, CVNA -3.5%, MRO -3.2%, ARWR -3.1%, AEL -3%, FTDR -3%, ENDP -2.8%, ALRM -2.7%, CTVA -2.7%, SYNA -2.4%, CDAY -2.3%, PVG -1.9%, SGMO -1.9%, LYV -1.8%, LILA -1.8%, CXW -1.6%, XEC -1.6%, PGNY -1.5%, ETSY -1.3%, LHCG -1.3%, PE -1.3%, FIT -1.1%, ATSG -1%, KWR -0.8%, AWK -0.6%, CCRN -0.6%, ET -0.6%, GBT -0.6% (also files for $200 mln mixed securities shelf offering ), PSA -0.6%, SRPT -0.6%, FNV -0.4%, FRT -0.4%, RE -0.4%, SPWR -0.4%, VSLR -0.3%, CHX -0.1%, MBI -0.1%, NVRO -0.1%, OR -0.1%, PRI -0.1%, SUN -0.1%
Companies trading lower in after hours in reaction to news: APRN -11.5% (stock offering), RIG -7.9% (announces commencement of internal reorganization transaction), STRA -6.4% (stock offering), RBBN -5.3% (RBBN to divest Kandy Comms to AVCT), TWOU -3.6% (stock offering), HZNP -3.5% (stock offering), CNTY -3.1% (to sell casino operations of Century Casino Calgary), W -2.3% (stock offering), TWLO -2.2% (stock offering), CXW -1.6% (to revoke its REIT status and become a taxable C corp), LSCC -1% (announces selection of Lattice ECP5 FPGA by AMBA), MRTX -0.4% (ORIC enters into license agreement with MRTX), TRNO -0.1% (dividend increase), PXD -0.1% (files mixed securities shelf offering), LYFT -0.1% (California's Labor Commissioner files lawsuits against UBER and LYFT)