Market Outlook for Wednesday, May 24, 2017

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News - "15 Biggest Mid-Day Losers For Wednesday"
    Aegean Marine Petroleum Network Inc. (NYSE: ANW) shares tumbled 33.3 percent to $7.00 after the company posted downbeat quarterly profit. Stifel Nicolaus downgraded Aegean Marine from Buy to Hold. Bristow Group Inc (NYSE: BRS) shares dipped 27.8 percent to $10.56. Bristow Group reported Q4 adjusted loss of $1.15 per share on revenue of $323.651 million. The company projects FY18 results to be impacted by continued offshore oil and gas industry downturn. Ooma Inc (NASDAQ: OOMA) shares declined 24.4 percent to $8.85 after the company's first-quarter earnings report and forward looking guidance failed to impress investors. Dycom Industries, Inc. (NYSE: DY) declined 16.7 percent to $90.00. Dycom reported Q3 adjusted earnings of $1.30 per share on revenue of $786 million. Chico's FAS, Inc. (NYSE: CHS) shares plunged 14.3 percent to $9.51 after the company posted downbeat quarterly results. Neurocrine Biosciences, Inc. (NASDAQ: NBIX) dropped 9.8 percent to $48.28 after the company reported Phase II results of INGREZZA for the treatment of Tourette syndrome. The company disclosed that the study did not meet its primary endpoint. Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) shares fell 9.3 percent to $67.88. Alnylam priced its 5 million share common stock offering at $71.87 per share. Tiffany & Co. (NYSE: TIF) shares dropped 9 percent to $84.84. Tiffany reported better-than-expected earnings for its first quarter, but sales missed estimates. Comparable store sales dropped 3 percent during the quarter. Thermon Group Holdings Inc (NYSE: THR) declined 6.4 percent to $19.31 on downbeat quarterly profit. Navios Maritime Holdings Inc. (NYSE: NM) shares dropped 5.8 percent to $1.29. Navios Maritime reported a Q1 loss of $51.4 million. EnteroMedics Inc (NASDAQ: ETRM) shares fell 5.5 percent to $4.80 after climbing 10.68 percent on Tuesday. Miragen Therapeutics, Inc. (NASDAQ: MGEN) shares fell 5.3 percent to $10.80 following announcement of EU orphan medicinal product designation for MRG-106. Ciena Corporation (NYSE: CIEN) shares dropped 4.6 percent to $23.22. Deutsche Bank downgraded Ciena from Buy to Hold. Lowe's Companies, Inc. (NYSE: LOW) shares slipped 4.1 percent to $78.96 after the company posted weaker-than-expected results for its first quarter. Scorpio Tankers Inc. (NYSE: STNG) shares declined 3.7 percent to $4.05. Scorpio Tankers reported a merger with Navig8 Product Tankers and launch of concurrent public offering of up to $200 million shares of common stock.
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Today's Earnings
TickerCompany NameTime
AAPAdvance Auto Parts8:00 AM
BMOBank of Montreal7:00 AM
CELCellcom Israel8:00 AM
CHSChico's FAS8:00 AM
CPRTCopart4:00 PM
CSRACSRA Inc. Common Stock4:00 PM
DYDycom Industries8:00 AM
EVEaton Vance8:00 AM
EXAExa4:00 PM
FSMFortuna Silver Mines Inc Ordinary Shares (Canada)4:00 PM
GESGuess?4:00 PM
HMLPHoegh LNG Partners LP Common Units representing Limited Partner Interests8:00 AM
HPQHewlett-Packard4:00 PM
JASOJA Solar Holdings, Co., Ltd. - American depositary shares, each representing five ordinary shares8:00 AM
JASOJA Solar Holdings ADR8:00 AM
KLXIKLX8:00 AM
LOWLowe's Companies7:00 AM
MODModine Manufacturing4:00 PM
NMNavios Maritime Holdings8:00 AM
NTAPNetApp4:00 PM
PLUSEplus4:00 PM
PSTGPure Storage, Inc. Class A Common Stock4:00 PM
PVHPVH4:00 PM
RADARada Electronics Industries Limited - Ordinary Shares9:00 AM
REXREX American Resources8:00 AM
RNVARennova Health, Inc. - Common Stock8:00 AM
SCVLShoe Carnival4:00 PM
SDLPSeadrill Partners6:00 AM
SDRLSeadrill7:00 AM
SPTNSpartanNash4:00 PM
TGITriumph Group8:00 AM
THRThermon Group Holdings8:00 AM
TIFTiffany7:00 AM
UHALAmerco4:00 PM
WSMWilliams-Sonoma4:00 PM
WSTLWestell Technologies8:00 AM
Today's Economic Events
Event NamePeriodYearTime
MBA Mortgage Applications (WoW)May 1920177:00 AM
MBA Purchase Index 20177:00 AM
MBA Mortgage Market Index 20177:00 AM
MBA Mortgage Refinance Index 20177:00 AM
MBA 30-Year Mortgage RateMay 1920177:00 AM
FHFA House Price Index (YoY)Mar20179:00 AM
FHFA House Price IndexMar20179:00 AM
FHFA House Price Index (MoM)Mar20179:00 AM
Existing Home SalesApr201710:00 AM
Existing Home Sales (MoM)Apr201710:00 AM
EIA Crude Oil InventoriesMay 19201710:30 AM
EIA Gasoline InventoriesMay 19201710:30 AM
EIA Crude Imports 201710:30 AM
EIA Cushing Inventories 201710:30 AM
EIA Distillate Output 201710:30 AM
EIA Distillate InventoriesMay 19201710:30 AM
EIA Gasoline Output/Production 201710:30 AM
EIA Heating Oil Inventories 201710:30 AM
5-Year Note Auction 20171:00 PM
FOMC Meeting Minutes 20172:00 PM
FOMC Member Kaplan Speaks  6:00 PM
FOMC Member Kashkari Speaks  6:30 PM
Movers & Shakers - "15 Biggest Mid-Day Losers For Wednesday"
    Aegean Marine Petroleum Network Inc. (NYSE: ANW) shares tumbled 33.3 percent to $7.00 after the company posted downbeat quarterly profit. Stifel Nicolaus downgraded Aegean Marine from Buy to Hold. Bristow Group Inc (NYSE: BRS) shares dipped 27.8 percent to $10.56. Bristow Group reported Q4 adjusted loss of $1.15 per share on revenue of $323.651 million. The company projects FY18 results to be impacted by continued offshore oil and gas industry downturn. Ooma Inc (NASDAQ: OOMA) shares declined 24.4 percent to $8.85 after the company's first-quarter earnings report and forward looking guidance failed to impress investors. Dycom Industries, Inc. (NYSE: DY) declined 16.7 percent to $90.00. Dycom reported Q3 adjusted earnings of $1.30 per share on revenue of $786 million. Chico's FAS, Inc. (NYSE: CHS) shares plunged 14.3 percent to $9.51 after the company posted downbeat quarterly results. Neurocrine Biosciences, Inc. (NASDAQ: NBIX) dropped 9.8 percent to $48.28 after the company reported Phase II results of INGREZZA for the treatment of Tourette syndrome. The company disclosed that the study did not meet its primary endpoint. Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) shares fell 9.3 percent to $67.88. Alnylam priced its 5 million share common stock offering at $71.87 per share. Tiffany & Co. (NYSE: TIF) shares dropped 9 percent to $84.84. Tiffany reported better-than-expected earnings for its first quarter, but sales missed estimates. Comparable store sales dropped 3 percent during the quarter. Thermon Group Holdings Inc (NYSE: THR) declined 6.4 percent to $19.31 on downbeat quarterly profit. Navios Maritime Holdings Inc. (NYSE: NM) shares dropped 5.8 percent to $1.29. Navios Maritime reported a Q1 loss of $51.4 million. EnteroMedics Inc (NASDAQ: ETRM) shares fell 5.5 percent to $4.80 after climbing 10.68 percent on Tuesday. Miragen Therapeutics, Inc. (NASDAQ: MGEN) shares fell 5.3 percent to $10.80 following announcement of EU orphan medicinal product designation for MRG-106. Ciena Corporation (NYSE: CIEN) shares dropped 4.6 percent to $23.22. Deutsche Bank downgraded Ciena from Buy to Hold. Lowe's Companies, Inc. (NYSE: LOW) shares slipped 4.1 percent to $78.96 after the company posted weaker-than-expected results for its first quarter. Scorpio Tankers Inc. (NYSE: STNG) shares declined 3.7 percent to $4.05. Scorpio Tankers reported a merger with Navig8 Product Tankers and launch of concurrent public offering of up to $200 million shares of common stock.