Pre-Open Stock Movers 09/13: (ISIL) (ACTS) (AAPL) Higher; (ACTG) (WTW) (APC) Lower (more...)

September 13, 2016 9:26 AM EDT

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Applied Genetic Technologies (NASDAQ: AGTC) 28% LOWER; reported Q4 EPS of $0.15, $0.08 better than the analyst estimate of $0.07. Revenue for the quarter came in at $12.1 million versus the consensus estimate of $12.93 million. Multiple downgrades.

Intersil Corporation (Nasdaq: ISIL) 9.4% HIGHER; Renesas Electronics Corporation and Intersil Corporation (Nasdaq: ISIL) announced they have signed a definitive agreement for Renesas to acquire Intersil for US$22.50 per share in cash, representing an aggregate equity value of approximately US$3.2 billion (approximately 321.9 billion yen at an exchange rate of 100 yen to the dollar). The transaction has been unanimously approved by the boards of directors of both companies. Closing of the transaction is expected in the first half of 2017, following approval by Intersil shareholders and the relevant governmental authorities.

Fate Therapeutics (NASDAQ: FATE) 7.7% LOWER; filed a registration with the U.S. SEC to sell up to 5,250,000 shares of common stock on behalf of selling shareholders.

Actions Semiconductor Co., Ltd. (NASDAQ: ACTS) 7.5% HIGHER; entered into a definitive merger agreement on September 12, 2016 pursuant to which the Company will be acquired by a consortium of investors.

EyeGate Pharmaceuticals, Inc. (Nasdaq: EYEG) 6% HIGHER; announced that Jade Therapeutics, Inc. (Jade), a wholly owned subsidiary of EyeGate, has received the second year of funding of $448,185 from the U.S. Army Medical Research and Materiel Command (USAMRMC) to continue the development of its proprietary thiolated hyaluronic acid (CMHA-S) for use as an ocular bandage film entitled Novel Hyaluronic Acid Delivery Polymer for Repair of Ocular Injuries. The second year of funding brings the total awarded to Jade under the U.S. Armys Small Business Innovation Research (SBIR) program to $1.25 million. This work is supported by the U.S. Army Medical Research and Materiel Command under Contract No. W81XWH-14-C-0025.

Energy Recovery (NASDAQ: ERII) 5.4% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $20.00 (from $8.00).

Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) 5.1% HIGHER; was awarded a $54 million contract to provide five Marine Common Aircrew Trainers (MCATs) to the United States Marine Corps (USMC). The contract was awarded directly to Kratos under the U.S. Navy Training Systems Contract III, LOT I, Naval Air Warfare Center Training Systems Division (NAWCTSD).

Ocean Power Technologies (NASDAQ: OPTT) 4.9% LOWER; reported Q1 EPS of ($1.72), versus ($2.38) reported last year. Revenue for the quarter came in at $200 thousand, versus $100 thousand reported last year.

Weight Watchers International, Inc. (NYSE: WTW) 4.6% LOWER; announced that it is commencing a search for a new CEO to lead the next stage of the Company's growth. James Chambers has notified the Board of Directors of his resignation as Chief Executive Officer, effective September 30, 2016, and as a Director of the Company. In addition, Thilo Semmelbauer, who had previously served as Chief Operating Officer with Weight Watchers until 2008, has been elected to the Company's Board of Directors.

Chesapeake Energy (NYSE: CHK) 2.4% LOWER; FBR Capital initiated coverage with a Underperform rating and a price target of $5.00

Anadarko (NYSE: APC) 2.3% LOWER; Freeport-McMoRan Inc. (NYSE: FCX) announced today that its oil and gas subsidiary, Freeport-McMoRan Oil & Gas (FM O&G), has entered into a purchase and sale agreement with Anadarko (NYSE: APC) for the sale of its Deepwater Gulf of Mexico (GOM) properties for total cash consideration of $2.0 billion and up to $150 million in contingent payments. Also, Anadarko announced a registered underwritten public offering of 35,250,000 shares of its common stock.

Blue Buffalo Pet Products, Inc. (Nasdaq: BUFF) 2.3% LOWER; announced that certain of its stockholders intend to offer for sale in an underwritten secondary offering an aggregate of 14,300,000 shares of common stock of Blue Buffalo pursuant to Blue Buffalo’s registration statement on Form S-3, filed with the Securities and Exchange Commission (the “Commission”). Blue Buffalo is not offering any shares of common stock in the proposed offering and will not receive any proceeds from the sale of shares in the proposed offering. The offering is expected to close on September 16, 2016, subject to customary closing conditions.

Apple (NASDAQ: AAPL) 1.9% HIGHER; T-Mobile and Sprint report strong iPhone 7 pre-orders.

Netflix (NASDAQ: NFLX) 1.6% LOWER; Macquarie downgraded from Neutral to Underperform.

Sanmina Corporation (Nasdaq: SANM) 1% HIGHER; announced that its Board of Directors has authorized a stock repurchase program of up to $150 million worth of the Company's common stock.

United Natural Foods (NASDAQ: UNFI) 0.4% HIGHER; reported Q4 EPS of $0.70, $0.07 better than the analyst estimate of $0.63. Revenue for the quarter came in at $2.21 billion versus the consensus estimate of $2.22 billion. GUIDANCE: United Natural Foods sees FY2017 EPS of $2.53-$2.63,may not compare to the consensus of $2.69. United Natural Foods sees FY2017 revenue of $9.43-9.60 billion, versus the consensus of $9.4 billion.

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