Gapping down
In reaction to disappointing earnings/guidance: RHT -1.5%, AZO -0.5%, MOS -0.5%, (announces production curtailments and updated third quarter guidance), .
M&A news: WGBS -12.9% (trading lower following yesterday's M&A spec), BTI -1.1% (signed an agreement to acquire 100% of the CHIC Group, and announced a vapor sharing term sheet with Reynolds American (RAI)).
Select High profile EU names showing weakness: SAN -3.4%, ORAN -3.3%, ING -3.2%, DEG -3.2%, STM -2.9%, GSK -2.7%, DB -2.7%, NVS -2.4%, UL -2.4%, HSBC -1.5%
Select metals/mining stocks trading lower: MT -5.8%, BBL -4.5%, RIO -3.8%, FCX -3.7%, AUY -3.4%, X -2.2%, AA -1.5%
Select oil/gas related names showing early weakness: E -4.6%, RDS.A -3.5%, BP -3.3%, TOT -3.2%, PBR -2.5%, STO -2.5%
Select Automakers trading lower in sympathy with Volkswagen news: TTM -4.4%, F -2.7%, GM -2.5%, TM -1.2%
Select fan favorites trading lower: FIT -2.9%, GPRO -2.2%, NFLX -1.8%, TSLA -1.4%, FB -1.4%, TWTR -1.2%, AMZN -1.2%, GOOG -1.1%, AAPL -1.0%
Other news: ABGB -8.7% (El Confidencial reports that HSBC (HSBC) plans to withdraw support for Abengoa (ABGB) increase in capital), NMFC -4.1% (commences offering of 5,000,000 shares of common stock), SDRL -4.1% (receives notification of cancellation of drilling contract from Husky Oil Operations (HUSKF)), MRD -4% (upsizes offering and prices 12 mln shares of its common stock at $17.60 per share), BHP -3.8% (announces it will undertake a global debt investor marketing effort across Europe, Asia and the United States), CBK -3.6% (to be removed from the S&P SmallCap 600), ITCI -3.3% (announces an underwritten public offering), SJM -2.8% (announced 8.28 mln share offering of common stock by Blue Holdings), GS -1.7% (CEO Blankfein diagnosed with form of lymphoma; Sees it as 'highly curable'), ESI -1.3% (announced that it has received a Civil Investigative Demand from the U.S. Department of Justice), SCMP -1.1% (discloses plans to hold meetings with potential lenders in connection with the financing of its proposed acquisition of R-Tech Ueno beginning on September 22, 2015)
Analyst comments: NTAP -2.7% (downgraded to Sell from Neutral at Goldman), ABB -2% (downgraded to Underweight from Neutral at JP Morgan), TD -1.5% (downgraded to Neutral from Outperform at Credit Suisse), ALSN -0.9% ( downgraded to Hold from Buy at Deutsche Bank)
In reaction to disappointing earnings/guidance: RHT -1.5%, AZO -0.5%, MOS -0.5%, (announces production curtailments and updated third quarter guidance), .
M&A news: WGBS -12.9% (trading lower following yesterday's M&A spec), BTI -1.1% (signed an agreement to acquire 100% of the CHIC Group, and announced a vapor sharing term sheet with Reynolds American (RAI)).
Select High profile EU names showing weakness: SAN -3.4%, ORAN -3.3%, ING -3.2%, DEG -3.2%, STM -2.9%, GSK -2.7%, DB -2.7%, NVS -2.4%, UL -2.4%, HSBC -1.5%
Select metals/mining stocks trading lower: MT -5.8%, BBL -4.5%, RIO -3.8%, FCX -3.7%, AUY -3.4%, X -2.2%, AA -1.5%
Select oil/gas related names showing early weakness: E -4.6%, RDS.A -3.5%, BP -3.3%, TOT -3.2%, PBR -2.5%, STO -2.5%
Select Automakers trading lower in sympathy with Volkswagen news: TTM -4.4%, F -2.7%, GM -2.5%, TM -1.2%
Select fan favorites trading lower: FIT -2.9%, GPRO -2.2%, NFLX -1.8%, TSLA -1.4%, FB -1.4%, TWTR -1.2%, AMZN -1.2%, GOOG -1.1%, AAPL -1.0%
Other news: ABGB -8.7% (El Confidencial reports that HSBC (HSBC) plans to withdraw support for Abengoa (ABGB) increase in capital), NMFC -4.1% (commences offering of 5,000,000 shares of common stock), SDRL -4.1% (receives notification of cancellation of drilling contract from Husky Oil Operations (HUSKF)), MRD -4% (upsizes offering and prices 12 mln shares of its common stock at $17.60 per share), BHP -3.8% (announces it will undertake a global debt investor marketing effort across Europe, Asia and the United States), CBK -3.6% (to be removed from the S&P SmallCap 600), ITCI -3.3% (announces an underwritten public offering), SJM -2.8% (announced 8.28 mln share offering of common stock by Blue Holdings), GS -1.7% (CEO Blankfein diagnosed with form of lymphoma; Sees it as 'highly curable'), ESI -1.3% (announced that it has received a Civil Investigative Demand from the U.S. Department of Justice), SCMP -1.1% (discloses plans to hold meetings with potential lenders in connection with the financing of its proposed acquisition of R-Tech Ueno beginning on September 22, 2015)
Analyst comments: NTAP -2.7% (downgraded to Sell from Neutral at Goldman), ABB -2% (downgraded to Underweight from Neutral at JP Morgan), TD -1.5% (downgraded to Neutral from Outperform at Credit Suisse), ALSN -0.9% ( downgraded to Hold from Buy at Deutsche Bank)
Gapping up
In reaction to strong earnings/guidance: VGGL +8.3%, DRI +3.7%, GIS +1.6%
M&A news: ASH +5% (to separate into two independent, publicly traded companies), TRXC +4.9% (acquired the surgical robotics division of SOFAR S.p.A., in a cash and stock transaction with total consideration of $99.8 million), SLH +3.2% (Bloomberg reporting that IHS Inc (IHS) is considering making bid for SLH above the $55.85 per share offer from Vista Equity Partners)
Other news: WFT +14.4% (decides not to pursue its previously announced public offerings of ordinary shares and mandatorily exchangeable subordinated notes), CORE +3.2% (to replace TTC in the S&P SmallCap 600)
Analyst comments: VBLT +17.2% (initiated with a Buy at Chardan Capital Markets; tgt $25), CNAT +9% (initiated with a Buy at H.C. Wainwright; tgt $15), CPST +8.3% (initiated with a Buy at H.C. Wainwright (Rodman & Renshaw); tgt $1)
In reaction to strong earnings/guidance: VGGL +8.3%, DRI +3.7%, GIS +1.6%
M&A news: ASH +5% (to separate into two independent, publicly traded companies), TRXC +4.9% (acquired the surgical robotics division of SOFAR S.p.A., in a cash and stock transaction with total consideration of $99.8 million), SLH +3.2% (Bloomberg reporting that IHS Inc (IHS) is considering making bid for SLH above the $55.85 per share offer from Vista Equity Partners)
Other news: WFT +14.4% (decides not to pursue its previously announced public offerings of ordinary shares and mandatorily exchangeable subordinated notes), CORE +3.2% (to replace TTC in the S&P SmallCap 600)
Analyst comments: VBLT +17.2% (initiated with a Buy at Chardan Capital Markets; tgt $25), CNAT +9% (initiated with a Buy at H.C. Wainwright; tgt $15), CPST +8.3% (initiated with a Buy at H.C. Wainwright (Rodman & Renshaw); tgt $1)
*GOLDMAN SACHS' BLANKFEIN SAYS HE HAS LYMPHOMA, HIGHLY CURABLE
trading to historical lows
ConAgra beats by $0.05; revs +1.1%; guides FY16 EPS below consensus
Reports Q1 (Aug) earnings of $0.45 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.40; revenues rose 1.1% year/year to $2.79 bln may not compare to the $3.67 bln consensus.
- Co issues downside guidance for FY16, sees EPS of in line with last year or ~$2.18, excluding non-recurring items, vs. $2.23 Capital IQ Consensus Estimate.
- Co will offer more details on fiscal 2016 EPS guidance once it is further along with the process of divesting the private label operations, determining associated SG&A reduction targets, and finalizing investment levels for the remaining segments.
- Despite strong fundamentals and expectations for continued margin expansion, comparable operating profits for the Consumer Foods segment in Q2 are expected to be negatively impacted by foreign exchange, as well as a planned increase in marketing investment.
- Profits for the Commercial Foods segment are expected to post an increase in profitability year-over-year in the fiscal second quarter.
- The divestiture process for the private label operations is proceeding as planned, and the company expects to have an announcement on the outcome of this process later this fall.
- Co will assess opportunities to increase the dividend after it is further along with the strategic plan outlined at the end of fiscal 2015.
Early premarket gappers
Gapping up: WFT +16.4%, VGGL +10.8%, TRXC +6.7%, SLH +3.3%, CORE +3.1%, NRG +2.8%, AZO +2.6%, GIS +1.6%, TTC +1.3%, DRI +1.3%, GCO +0.8%, RHT +0.5%
Gapping down: WGBS -9.2%, BBL -5%, SDRL -4.9%, THO -4.6%, BHP -4.2%, RIO -4.2%, FCX -4%, NMFC -3.9%, ITCI -3.6%, MRD -3.6%, CBK -3.6%, FIT -3.3%, RDS.A -3.3%, PBR -3.2%, BP -3.2%, GSK -3.1%, SAN -3%, TOT -3%, GPRO -2.9%, STO -2.7%, SJM -2.6%, MOS -2.6%, NVS -2.5%, NFLX -2.3%, WYNN -2.3%, X -2.3%, UL -2.3%, DB -2.2%, SCMP -1.1%
Gapping down: WGBS -9.2%, BBL -5%, SDRL -4.9%, THO -4.6%, BHP -4.2%, RIO -4.2%, FCX -4%, NMFC -3.9%, ITCI -3.6%, MRD -3.6%, CBK -3.6%, FIT -3.3%, RDS.A -3.3%, PBR -3.2%, BP -3.2%, GSK -3.1%, SAN -3%, TOT -3%, GPRO -2.9%, STO -2.7%, SJM -2.6%, MOS -2.6%, NVS -2.5%, NFLX -2.3%, WYNN -2.3%, X -2.3%, UL -2.3%, DB -2.2%, SCMP -1.1%
Watch out CON, FR & EO...