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Stocks Gapping Down 2017-05-26

ASUR Asure Software, Inc. (ASUR) has consummated the acquisitions of iSystems Intermediate Holdco, Inc. (iSystems) and Compass HRM (Compass). In connection with the acquisitions, the company increased the total principal amount of commitments under its credit facility from approximately $32 million to $75 million, as well as announced its intention to offer and sell shares of its common stock in an underwritten public offering.

GME GameStop (GME) reported Q1 EPS of $0.63, $0.12 better than the analyst estimate of $0.51. Revenue for the quarter came in at $2.05 billion versus the consensus estimate of $1.94 billion. Strong Collectibles sales and a successful Nintendo Switch launch drives a 2.3% increase in same store sales Earnings OutlookAs a reminder, GameStop is no longer providing quarterly EPS or same store sales guidance. In terms of annual guidance, the company is reiterating its full year diluted earnings per share guidance of $3.10 to $3.40 and comparable store sales range of -5.0% to 0.0%.

MACK Merrimack Pharmaceuticals, Inc. (MACK) announced the resignation of Dr. Yasir Al-Wakeel as Chief Financial Officer and Head of Corporate Development, effective June 9, 2017. Dr. Al-Wakeel, who has been in his role with Merrimack since August 2015, is leaving to pursue other business interests. Merrimack has initiated a search to appoint a new chief financial officer.

SPLK Splunk (SPLK) reported Q1 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $242.4 million versus the consensus estimate of $233.86 million. GUIDANCE: Splunk sees Q2 2018 revenue of $267-269 million, versus the consensus of $267.5 million. Sees FY 2018 revenues around $1.195 billion versus consensus of $1.19 billion.

TRGP Targa Resources Corp. (TRGP) announced that it has commenced an underwritten public offering of 17,000,000 shares of its common stock. The Company also intends to grant a 30-day option to the underwriter to purchase up to an additional 2,550,000 shares of common stock.

TRIL Trillium Therapeutics Inc. (TRIL) announced that it has commenced a public offering of its common shares and Series II Non-Voting Convertible First Preferred Shares. The Series II Non-Voting Convertible First Preferred Shares are being offered to investors whose purchase of common shares in the offering may result in such investor, together with its affiliates and certain related parties, beneficially owning more than 4.99% of the Company's outstanding common shares following the consummation of the offering. The Company also intends to grant the underwriters a 30-day option to purchase from it up to an additional 15% of the common shares offered in the offering.

ZOES Zoe's Kitchen, Inc. (ZOES) reported Q1 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter came in at $90.6 million versus the consensus estimate of $92.55 million.


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