>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • ACIA -16.6%, KBR -10.2%, ZOES -10%, ALDR -8.7%, HPE -8.2%,BGS -6.2%, CECO -5.7%, ACHN -5.7%, ACHC -5.2%, ASPN -5.1%,BNFT -4.8%
  • GIFI -4.6%, DGI -4.6%, BRFS -4.4%, SPLK -4.2%, PLUG -4.2%, RBS -4%, IMAX -3.7%, NCMI -3.5%, CENX -3.5%, LGND -3.2%, GLPG -3%, NVRO -2.9%
  • HLF -2.9%, (to form a JV w/ Tasly Holding Group ), EYEG -2.5%,MGA -2.5%, SWN -2.3%, PEB -1.7%, NSU -1.4%, BIDU -1.3%, SPXC -1.2%, SSP -1.1%
  • RDUS -1%, TWOU -1%, HTGC -1%, TERP -1%
M&A news:
  • HCLP -9% (acquires Permian Basin Sand, Whitehall facility and remaining interest in augusta facility for a total consideration of $415 million; commences a primary public offering of 20,500,000 common units representing limited partnership interests in the Partnership)
Select EU financial related names showing weakness in sympathy with RBS and Standard Chartered earnings:
  • DB -3.1%, CS -2.5%, ING -2.4%, BCS -1.9%
Select metal producers trading lower:
  • VALE -2.7%, BBL -2.4%, BHP -2.3%, X -2%, RIO -1.8%, .
Select ACIA peers trading lower in sympathy:
  • IIVI -3.7%, OCLR -2.9%, FNSR -1.1%, IPHI -0.9%, LITE -0.9%,INFN -0.7%, NPTN -0.5%, .
Other news:
  • NAO -26.8% (commences public offering of 33,333,333 common share; also intends to grant the underwriters a 30-day option to purchase 5,000,000 additional common shares)
  • SMCI -5.5% (receives notice that Apple (AAPL) has cut ties with co as supplier, according to The Information article)
  • WSO -5.1% (United Technologies announces the commencement of an underwritten secondary offering of 4,235,685 shares of common stock of Watsco)
  • NVDA -3.4% (continued weakness)
  • PFGC -3.3% (prices 13.5 mln common stock offering by certain of its stockholders, including affiliates of The Blackstone Group (BX), at $23.50/share)
  • CELG -1.7% (President and COO Jackie Fouse, PH.D. to retire effective June 30, 2017; co has promoted Scott Smith to President and COO)
  • PAGP -0.9% (upsizes offering by 8 mln shares and prices 42 mln shares of Class A shares for gross proceeds of $1.3 bln)
Analyst comments:
  • YY -2% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
  • SFUN -1.7% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
  • RIG -1.5% (downgraded to Sell from Hold at Pareto Securities)
  • GS -1.5% (ddowngraded to Sell from Hold at Berenberg)
  • HTGC -1% (downgraded to Mkt Perform from Outperform at Raymond James)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • RH +15.5%, ( guides Q4 EPS and revenues above consensus; authorizes a $300 million common share repurchase program),AAOI +11.5%, OLED +10.4%
  • MTZ +9.3%, TPC +7.3%, RMAX +6.7%, SB +5.1%, INWK +5.1%,EGO +4.7%, SGY +4.7%, VICR +4.2%, PSO +3.6%, RDC +3.4%,PACD +3.1%, WMAR +3.1%
  • FL +2.7%, BJRI +2.5%, JWN +2.5%, EBS +2.4%, DYN +2.4%, AL +1.9%, MELI +1.8%, MAIN +1.5%, AGO +1.5%, PEG +1.3%, CLMT +1.1%, INTU +1%
  • AINC +0.9%, STMP +0.9%
Select metals/mining stocks trading higher:
  • SBGL +3.7%, AUY +3.2%, AG +3.1%, SLW +2%, NEM +2%, IAG+1.9%, ABX +1.8%, GG +1.7%, HMY +1.4%, GDX +1.3%, AU +1%,
Other news:
  • CEMP +44.4% (positive topline results from a phase 3 study of oral fusidic acid )
  • IPCI +30.2% (receives FDA approval for its ANDA for metformin hydrochloride extended release tablets)
  • AXDX +22.2% (FDA allows marketing of the PhenoTest BC Kit, performed on the Pheno System )
  • EARS +13% (FDA has granted Fast Track designation for AM-111)
  • INCY +5.1% (to join S&P 500)
  • NVLS +4.4% (announces its Phase 2 trial evaluating cavosonstat at a dose of 400 mg in adult patients with CF who were being treated w/ Kalydeco did not meet its primary endpoint )
  • DFT +4.3% (announces an 'at-the-market' program through which it may issue and sell, from time to time, up to an aggregate of $200 mln of its common shares)
  • BATS +2.2% (higher following S&P index change announcement - CBOE to join S&P 500 after acquiring BATS)
  • CONE +2.2% (will replace CLARCOR in the S&P MidCap 400)
  • NUS +2% (will replace Equity One in the S&P MidCap 400)
  • CXW +1.7% (reports that the DOJ reverses Obama decision on private prisons)
  • GEO +1.3% (reports that the DOJ reverses Obama decision on private prisons)
Analyst comments:
  • AERI +2.6% (initiated with an Outperform at Cowen)
  • HL +2% (upgraded to Market Perform from Underperform at BMO Capital)