Market Weekly: July 5 – 11 2020


Gapping down

In reaction to disappointing earnings/guidance:

QDEL -2.9% (guides Q2 revs above consensus)

Select financial related names showing weakness:

GS -0.9%, C -0.9%, WFC -0.8%, JPM -0.8%, XLF -0.7%, MS -0.6%

Select oil/gas related names showing early weakness:

SLB -1.8%, HAL -1.3%, OIH -0.9%, TOT -0.9%, XLE -0.8%, XOM -0.7%, BP -0.7%

Other news:

EOLS -36.7% (provides update on USITC case; commission to review case; final determination targeted for November 2020)
CLLS -16.5% (announces clinical hold for MELANI-01 trial)
CLXT -10.7% (André Choulika, Ph.D. notified Calyxt of his decision to retire from his position as Chairman and as a director effective immediately)
RVMD -4.3% (announces offering of 5.5 mln shares)
PCRX -3.2% (guides Q2 revs well above consensus; also announces $300 mln convertible offering)
ARE -2.3% (prices offering of 6,000,000 shares of common stock at $160.50 per share)
KL -1.7% (announced production results for Q2)
CCL -1.4% (sets ship delivery changes and related deployment plans)
UBX -1% (announces departure of CFO Bob Goeltz)

Analyst comments:

COMM -5.5% (downgraded to Mkt Perform from Outperform at Raymond James)
D -3.6% (downgraded to Neutral from Outperform at Credit Suisse)
YETI -2.5% (downgraded to Neutral from Buy at Goldman)
FTNT -1.9% (downgraded to Neutral from Overweight at JP Morgan)
ILMN -1.9% (downgraded to Neutral from Buy at Guggenheim)
KMI -1.3% (downgraded to Sell from Neutral at Goldman)
RTLR -1% (downgraded to Neutral from Buy at Goldman)
CBOE -0.5% (downgraded to Neutral from Overweight at Piper Sandler)