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Stocks Gapping Down 2018-01-16
DPW Digital Power (DPW) 15.4% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins
KODK Kodak (KODK) 8.7% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins
EIGR Eiger BioPharmaceuticals, Inc. (EIGR) 44.7% LOWER; announced today Phase 2 LIBERTY study results in pulmonary arterial hypertension (PAH) that demonstrated no improvement overall or in key subgroups for both the primary efficacy endpoint of pulmonary vascular resistance (PVR) and the secondary endpoint of 6-minute walk distance (6MWD). No safety signals attributed to ubenimex were identified in the preliminary analysis. Further analysis of data, including biomarkers is ongoing, although the company will discontinue development of ubenimex in PAH based on these results.
FNSR Finisar (FNSR) 3.9% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $16.00 (from $19.00).
GE General Electric (GE) 3.5% LOWER; announced today that the comprehensive review and reserve testing for GE Capitals run-off insurance portfolio, North American Life & Health (NALH), will result in an after-tax GAAP charge of $6.2 billion for the fourth quarter of 2017, and GE Capital expects to make statutory reserve contributions of ~$15 billion over seven years. The Kansas Insurance Department, NALHs primary regulator, approved a phased contribution of ~$3 billion in 1Q18 and ~$2 billion annually from 2019 through 2024.
RIOT Riot Blockchain (RIOT) 8.6% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins
OSTK Overstock.com (OSTK) 5.7% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins
ONCE Spark Therapeutics (ONCE) 5% LOWER; Wedbush downgraded from Neutral to Underperform with a price target of $35.00 (from $50.00).
VIAB Viacom (VIAB) 2.4% LOWER; Rosenblatt downgraded from Hold to Sell.
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