HIGHER: Avaya Holdings (AVYA) up 16.4% after announcing strategic deal with RingCentral, $500M buyback, and long-term revenue growth outlook of 2%-4%… MEI Pharma (MEIP) up 12.8% after updated data from Phase 1b study of investigational ME-401… Etsy (ETSY) up 0.7% after being initiated with Buy at Nomura. DOWN AFTER EARNINGS: Smart Global (SGH) down 5.6%… HP Inc (HPQ) down 3.3% after initial FY20 guidance at Analyst Day presentation… Costco (COST) down 1.5%. ALSO LOWER: Arbutus Biopharma (ABUS) down 24.5% after discontinuing development of AB-506… Ovid Therapeutics (OVID) down 14.1% after equity offering… Heron Therapeutics (HRTX) down 7.2% after equity offering… Range Resources (RRC) down 2.8% after being cut to Neutral at Credit Suisse… Whiting Petroleum (WLL) down 2.5% after being cut to Neutral at Credit Suisse. Movers as of 19:10ET.