Pre-Open Stock Movers 08/30: (RIGL) (RBA) (MDLZ) Higher; (GIII) (ANF) (HSY) Lower (more...)

August 30, 2016 9:07 AM EDT

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Today's Pre-Open Stock Movers

Bonanza Creek Energy, Inc. (NYSE: BCEI) 24.2% HIGHER; announces that it has been notified by The New York Stock Exchange (NYSE) that it is no longer in compliance with certain continued listing standards that are applicable to the Company. The Companys 30-day average closing share price as of August 22, 2016 was $0.98, in violation of the listing standard set forth in Section 802.01C of the NYSE Listed Company Manual, requiring the trailing 30-day average closing share price to remain above $1.00.

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) 22% HIGHER; announced that fostamatinib, its oral spleen tyrosine kinase (SYK) inhibitor, met the primary endpoint in the first of two double-blind studies in the FIT Phase 3 clinical program for the treatment of adult chronic/persistent immune thrombocytopenia (ITP). The study (n=76) showed that 18% of patients receiving fostamatinib achieved a stable platelet response compared to none receiving a placebo control (p=0.0261). A stable platelet response was defined as achieving greater than 50,000 platelets per uL of blood on at least four of the last six scheduled visits between weeks 14 and 24 of treatment. The results from the second FIT Phase 3 study are expected in October/November 2016.

G-III Apparel Group (NASDAQ: GIII) 20.3% LOWER; reported Q2 EPS of ($0.03), $0.21 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $442.3 million versus the consensus estimate of $484.85 million. GUIDANCE: G-III Apparel Group sees FY2017 EPS of $2.16-$2.26, versus prior guidance of $2.55-$2.65 and the consensus of $2.58. G-III Apparel Group sees FY2017 revenue of $2.48 billion, versus prior guidance of $2.56 billion and the consensus of $2.56 billion.

Abercrombie & Fitch (NYSE: ANF) 13.3% LOWER; reported Q2 EPS of ($0.25), $0.05 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $783.2 million versus the consensus estimate of $782.1 million. Comps fell 4 percent, versus an estimated 3.8 percent drop.

ScanSource (NASDAQ: SCSC) 11.8% LOWER; reported Q4 EPS of $0.51, $0.20 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $877.5 million versus the consensus estimate of $886.2 million. ScanSource sees Q1 2017 EPS of $0.60-$0.68, versus the consensus of $0.76. ScanSource sees Q1 2017 revenue of $875-925 million, versus the consensus of $933.8 million.

he Hershey Company (NYSE: HSY) 11.2% LOWER; Mondelz International, Inc. (Nasdaq: MDLZ) announced it has ended discussions with The Hershey Company (NYSE: HSY) regarding a possible combination of the two companies.

Ritchie Bros. Auctioneers (NYSE: RBA) 10.8% HIGHER; The company and IronPlanet, a leading online marketplace for used heavy equipment and other durable asset sales, jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire IronPlanet for approximately US$758.5 million, subject to customary closing adjustments.

Array BioPharma (Nasdaq: ARRY) 6.4% HIGHER; announced today results from a Phase 2 study of ARRY-797, an oral, selective p38 mitogen-activated protein kinase inhibitor, in patients with lamin A/C-related dilated cardiomyopathy (LMNA-related DCM), a rare, degenerative cardiovascular disease caused by mutations in the LMNA gene and characterized by poor prognosis. The trial results were presented at the European Society of Cardiology Congress 2016 in Rome, Italy. The results demonstrated an absolute mean change from baseline of 69 meters on the six-minute walk test (6MWT) at week 12, the study's primary endpoint (baseline 6MWT ranged from 246 to 412 meters). This magnitude of improvement exceeded historical benchmarks for 6MWT that have served as the basis for recent approvals of other drugs in other rare diseases. ARRY-797 administration also resulted in sustained improvements in N-terminal pro-brain natriuretic peptide (NT-proBNP), functional capacity and cardiac function through 48 weeks in LMNA-related DCM patients. Patients who rolled over to a continuing treatment protocol maintained improvements in the 6MWT and NT-proBNP levels through 72 weeks of treatment. Other secondary endpoints measured including echocardiographic measures of left and right ventricular function and patient-reported outcomes using the Kansas City Cardiomyopathy Questionnaire (KCCQ), both mirrored the favorable improvements seen with the 6MWT.

Sophiris Bio (NASDAQ: SPHS) 4.8% HIGHER; Piper Jaffray initiates coverage with a Overweight rating and a price target of $7.00.

Catalent (NYSE: CTLT) 4.3% LOWER; reported Q4 EPS of $0.52, $0.01 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $532.2 million versus the consensus estimate of $502.25 million. GUIDANCE: Catalent sees FY2017 revenue of $1.920-1.995 billion, versus the consensus of $1.92 billion. Catalent expects Adjusted EBITDA in the range of $430 million to $455 million and Adjusted Net Income in the range of $165 million to $190 million.

Barracuda Networks (NYSE: CUDA) 3.6% HIGHER; Pacific Crest upgraded from Sector Weight to Overweight with a price target of $30.

Mondelz International, Inc. (Nasdaq: MDLZ) 3.6% HIGHER; announced it has ended discussions with The Hershey Company (NYSE: HSY) regarding a possible combination of the two companies.

Skyworks Solutions, Inc. (NASDAQ: SWKS) 2.5% LOWER; announced that Kris Sennesael has joined Skyworks as senior vice president and chief financial officer. Sennesael, 47, most recently served as chief financial officer for Enphase Energy, a semiconductor-based energy solutions provider. Donald Palette, 59, who has been Skyworks chief financial officer since 2007, will serve in an advisory role for a transitional period.

Flex (NASDAQ: FLEX) 2.5% HIGHER; received shareholder approval to purchase up to 20% of its outstanding shares. Additionally, the Company's Board of Directors authorized management to purchase the Company's shares in an aggregate amount of up to $500 million. Since the beginning of fiscal 2012, the Company has repurchased approximately 279 million shares for approximately $2.3 billion.

Vista Outdoor (NYSE: VSTO) 2.5% HIGHER; KeyBanc upgraded from Sector Weight to Overweight with a price target of $48.

American Airlines (Nasdaq: AAL) 1.9% LOWER; United Continental Holdings, Inc. (NYSE: UAL) announced that Scott Kirby has been named president of United Airlines. In this newly created role, Kirby will assume responsibility for United's operations, marketing, sales, alliances, network planning and revenue management. Kirby's appointment is effective immediately and he will report to Oscar Munoz, United's CEO. Kirby joins United from American Airlines (Nasdaq: AAL), where he held the title of president since the merger of American and US Airways in 2013.

Fortinet (NASDAQ: FTNT) 1.4% HIGHER; Pacific Crest upgraded from Sector Weight to Overweight with a price target of $47

United Continental Holdings, Inc. (NYSE: UAL) 1.3% HIGHER; announced that Scott Kirby has been named president of United Airlines. In this newly created role, Kirby will assume responsibility for United's operations, marketing, sales, alliances, network planning and revenue management. Kirby's appointment is effective immediately and he will report to Oscar Munoz, United's CEO. Kirby joins United from American Airlines (Nasdaq: AAL), where he held the title of president since the merger of American and US Airways in 2013.



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