Pre-Open Stock Movers 08/24: (URRE) (LCI) (OSUR) Higher; (EXPR) (LZB) (SOL) Lower (more...)

August 24, 2016 9:25 AM EDT
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Today's Pre-Open Stock Movers

Uranium Resources, Inc. (Nasdaq: URRE) 62.2% HIGHER; announced that it has staked approximately 4,600 acres (1,860 hectares) of placer mining claims covering a prospective target for lithium-enriched brines in the Columbus Salt Marsh area of west-central Nevada. The target area, known as the Nina Project, is situated within a region of known lithium mineralization and is approximately 27 miles (43 kilometers) northwest of the Clayton Valley/Silver Peak lithium brine mine of Albemarle Corporation, the only operating lithium brine recovery operation in the United States.

Express (NYSE: EXPR) 21.9% LOWER; reported Q2 EPS of $0.13, $0.04 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $504.8 million versus the consensus estimate of $520.95 million. Express sees Q3 2016 EPS of $0.09-$0.15, versus the consensus of $0.32. Express sees FY2016 EPS of $1.00-$1.14, versus the consensus of $1.46.

La-Z-Boy (NYSE: LZB) 15.4% LOWER; reported Q1 EPS of $0.28, $0.01 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $340.8 million versus the consensus estimate of $358.79 million. Same-store sales for the La-Z-Boy Furniture Galleries® network declined 1.9% versus an increase of 5.3% in last year's first quarter.

Lannett (NYSE: LCI) 14.8% HIGHER; reported Q4 EPS of $0.73, $0.14 better than the analyst estimate of $0.59. Revenue for the quarter came in at $168.9 million versus the consensus estimate of $161.55 million. GUIDANCE: Lannett sees FY2017 revenue of $690-700 million, versus the consensus of $665.4 million.

Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) 12.4% HIGHER; announced it has received a new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the company’s new post-dermal-procedures product.

Amedica Corporation (Nasdaq: AMDA) 10.3% HIGHER; announced the U.S. Food and Drug Administration (FDA) clearance of expanded Valeo II Lateral Lumbar sizes. The additional sizes of the Valeo II LL interbody fusion device will be commercially available August 29, 2016.

OraSure Technologies, Inc. (NASDAQ: OSUR) 9.6% HIGHER; has been awarded a contract for up to $16.6 million in total funding from the U.S. Department of Health and Human Services (HHS) Office of the Assistant Secretary for Preparedness and Response’s Biomedical Advanced Research and Development Authority (BARDA) to advance the Company’s rapid Zika tests.

SCYNEXIS, Inc. (Nasdaq: SCYX) 9.2% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to the Companys novel triterpenoid broad-spectrum antifungal agent, SCY-078, for the treatment of invasive Aspergillus infections.

ReneSola (NYSE: SOL) 8.7% LOWER; reported Q2 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $250 million versus the consensus estimate of $284.39 million. For Q3 2016, the Company expects revenue to be approximately $200 million and gross margin to be around 10%. This outlook reflects the impact from high polysilicon prices combined with declining wafer prices. For full year 2016, the Company now expects revenue in the range of $900 million to $1.1 billion, compared with previous guidance of $1.0 billion to $1.2 billion. The lower revenue outlook reflects a slowdown in shipments and lower ASP. (The Street sees FY16 revenue of $1.08 billion.)

Insys Therapeutics, Inc. (Nasdaq: INSY) 7.9% HIGHER; reported that the Phase 3 trial for the Buprenorphine Sublingual Spray met its primary endpoint.

Wabash National Corp. (NYSE: WNC) 6.6% HIGHER; will replace EnerSys in the S&P SmallCap 600.

Clovis Oncology (NASDAQ: CLVS) 4.9% HIGHER; adds to Tuesday gains after the FDA has accepted its rucaparib NDA submission in 3L g/sBRCA+ ovarian cancer an granted priority review.

Garmin Ltd. (NASDAQ: GRMN) 4.8% LOWER; ​Goldman Sachs downgraded from Neutral to Sell with a price target of $46,

Dycom Industries (NYSE: DY) 4% LOWER; reported Q4 EPS of $1.64, $0.09 better than the analyst estimate of $1.55. Revenue for the quarter came in at $789.2 million versus the consensus estimate of $770.66 million. GUIDANCE: Dycom Industries sees Q1 2017 EPS of $1.55-$1.70, versus the consensus of $1.63. Dycom Industries sees Q1 2017 revenue of $780-810 million, versus the consensus of $775.0 million

Intuit (NASDAQ: INTU) 3.9% LOWER; reported Q4 EPS of $0.08, $0.10 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $754 million versus the consensus estimate of $733.2 million. GUIDANCE: Intuit sees Q1 2017 EPS of $0.01-$0.03, versus the consensus of $0.13. Intuit sees Q1 2017 revenue of $740-760 million, versus the consensus of $772.7 million. Intuit sees FY2017 EPS of $4.30-$4.40, versus the consensus of $4.33. Intuit sees FY2017 revenue of $5.0-5.1 billion, versus the consensus of $5.08 billion.

MannKind (NASDAQ: MNKD) 3.3% HIGHER; CCO buys 25K shares.

New Media Investment Group (NYSE: NEWM) 3% LOWER; Citi downgraded from Neutral to Sell.

Nimble Storage (NYSE: NMBL) 2.8% HIGHER; reported Q2 EPS of ($0.19), $0.01 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $97.1 million versus the consensus estimate of $94.69 million. GUIDANCE: Nimble Storage sees Q3 2017 EPS of ($0.17)-($0.19), versus the consensus of ($0.17). Nimble Storage sees Q3 2017 revenue of $100-103 million, versus the consensus of $100.85 million.

Canadian Solar (NASDAQ: CSIQ) 2.7% LOWER; Barclays initiates coverage with a Equalweight rating and a price target of $14.00 (from $24.00).

Fitbit, Inc. (NYSE: FIT) 2.7% HIGHER; announced that the International Trade Commission issued an initial determination in favor of Fitbit in ITC Investigation No. 337-TA-963 brought by Jawbone. The Administrative Law Judge who presided over the merits hearing concluded that Fitbit did not misappropriate any Jawbone trade secrets. This determination followed earlier decisions that eliminated from this investigation all six of the Jawbone patents asserted against Fitbit.

Chesapeake Energy (NYSE: CHK) 1.4% HIGHER; Director, Archie Dunham, bought 350,000 shares on 08/22 at $6.07.

CommScope Holding Company, Inc. (NASDAQ: COMM) 1% LOWER; announced the sale of 7 million shares of its common stock on an underwritten basis by an affiliate of The Carlyle Group. In addition, the underwriter will have an option to purchase up to 1,050,000 additional shares from Carlyle. CommScope will not receive any of the proceeds from the offering of shares by Carlyle. Closing of the offering is expected to occur on or about August 29, 2016, subject to customary closing conditions.



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