Q: What happened Friday to SJ. Down 9% on no news, no earnings ??
5i Research Answer:
There was no news on SJ, and none of a list of its peers had a particularly bad day. Trading volume was high, and some large blocks before noon seemed to set off a wave of afternoon selling. The sector has been weak for a month, however, and SJ's drop today really only brought it into line with others' prior weakness over the past 30 days. It reports May 8 and is now down 6% YTD, all of which from today.