Market Weekly: July 5 – 11 2020

#24105
Truman
Participant

Gapping down

In reaction to disappointing earnings/guidance:

BBBY -8.9%, TPB -5.9% (raises Q2 revenue guidance)

Other news:

GLG -7.8% (files for $100 mln mixed securities shelf offering)
TPB -5.7% (upsizes offering and prices 8,977,968 shares of its common stock by certain selling shareholders at $32.00 per share)
OTIC -5.3% (stock offering)
HQY -1.9% (prices offering of 4,600,000 shares of its common stock at $56.00 per share)
ALPN -1.6% (files for $60 mln mixed securities shelf offering)
ZYME -0.8% (signs new license agreement with Merck)
UAL -0.6% (confirmed it informed ~36,000 U.S.-based employees, either directly or through a union representative, of plans to implement a workforce reduction at their work location)

Analyst comments:

PLUG -2% (downgraded to Equal Weight from Overweight at Barclays)
SEAS -2% (downgraded to Neutral from Buy at Janney)
FUN -1.1% (downgraded to Neutral from Buy at Janney)
TPIC -1% (downgraded to Neutral from Overweight at JP Morgan)
WING -0.8% (downgraded to Neutral from Buy at BTIG Research)
SQ -0.5% (downgraded to Market Perform from Outperform at Cowen)