Gapping down
In reaction to disappointing earnings/guidance:
- DRI -12.2%, CBRL -7.4% (withdraws guidance), TLRD -6.7%, EXAS -3.7% (withdraws guidance), LEN -3%, BURL -1.2% (withdraws guidance)
Select ETFs showing weakness:
- XLF -2.3%, DIA -2.2%, XLK -1.9%, IWM -1.8%, SPY -1.7%, QQQ -1.7%, XLI -1.5%, GLD -1.4%, XLP -1.3%, XLY -1.1%
Other news:
- CARG -10.8% (offers 50% rate reduction on all marketplace subscription billings in April; suspends full year guidance)
- MAR -9.9% (withdraws all aspects of its 2020 outlook; provides business update)
- FCAU -9.7% (will cease production at its plants across North America)
- MT -6.9% (taking steps to reduce production from its European operations)
- HOG -5.8% (temporarily suspends U.S. production)
- MTN -4.2% (anticipates a negative impact of $180-$200 mln to EBITDA from coronavirus)
- PTLA -3.3% (co suspends face-to-face field activity and instituted a mandatory work from home policy)
- TRGP -2.7% (reduces dividend and capital spend)
- PFE -1.9% (announces clinical data for two studies)
- SBUX -1.8% (bullish Mad Money interview on CNBC)
- VIAC -1.7% (suspends marketing efforts to sell Black Rock)
- CNQ -1.7% (provides corporate update on capital flexibility)
- JNJ -1.6% (Janssen unit submits NDA to the FDA for multiple sclerosis)
- DRNA -1.2% (receives orphan drug designation from FDA for DCR-A1AT)
Analyst comments:
- BYND -3% (downgraded to Underperform from Neutral at BofA/Merrill)
- ETSY -0.6% (downgraded to Neutral from Buy at ROTH Capital)