- MGT Capital Investments Inc. MGT shares dipped 29.4 percent to $1.78 after the company issued an update on status of D-Vassive acquisition. The company has been told that it cannot list 43.8 million shares on the NYSE to close D-Vassive merger. MGT Capital still remains committed to close the deal.
- Ascena Retail Group Inc ASNA shares tumbled 26.9 percent to $5.94 after the company reported downbeat earnings for its fourth quarter and issued a weak forecast for the first quarter.
- HNI Corp HNI shares dropped 21.4 percent to $42.62 after the company lowered its Q3 and FY earnings outlook.
- HSN, Inc. HSNI shares declined 6 percent to $38.08. Bank of America initiated coverage on HSN with an Underperform rating and a $33.00 price target.
- Encana Corp (USA) ECA declined 5.5 percent to $9.31 driven by the announcement of a public offering of 107 million shares. The company said half of the net proceeds will be used to fund a portion of next year’s capital program, and the other half to pay down debt.
- Oclaro, Inc. OCLR shares fell 5 percent to $8.65 following the company’s announcement that it would offer 13 million newly-issued shares of common stock. Management said it intends to use the proceeds for general purposes.
- GoPro Inc GPRO dropped 4.8 percent to $14.57. GoPro Inc announced the launch of a subscription software offering, while introducing its first ever drone and refreshing its action camera portfolio with the new HERO5 Session and HERO5 Black. Goldman Sachs maintained a Neutral rating on the company, while raising the price target from $12.50 to $14.00.
- SeaWorld Entertainment Inc SEAS shares dropped 4.5 percent to $12.12. SeaWorld trimmed its quarterly dividend by more than 52 percent, to $0.10 per share, and announced that this would be the last payment before suspending it.
- Trinseo S.A. TSE shares slipped 3.1 percent to $54.06 as the company reported an offering of 10.67 million shares via selling shareholders.
- Huntington Ingalls Industries Inc HII dropped 3 percent to $150.04. Cowen & Co. downgraded Huntington Ingalls from Outperform to Market Perform.
- VeriFone Systems Inc PAY shares fell 2.2 percent to $15.70. Morgan Stanley slashed price target on the shares of VeriFone by $7 to $16.
- Arrow Electronics, Inc. ARW declined 2.1 percent to $62.60. Goldman Sachs downgraded Arrow Electronics from Buy to Neutral and lowered the price target from $72 to $63.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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