Pre-Open Stock Movers 09/20: (TBRA) (CNAT) (WINT) Higher; (ASNA) (MGT) (SEAS) Lower (more...)
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Today's Pre-Open Stock Movers
Tobira Therapeutics, Inc. (NASDAQ: TBRA) 603% HIGHER; Allergan plc (NYSE: AGN) and Tobira Therapeutics, Inc. (NASDAQ: TBRA), a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for non-alcoholic steatohepatitis (NASH) and other liver diseases, today announced that they have entered into a definitive agreement under which Allergan will acquire Tobira for an upfront payment of $28.35 per share, in cash, and up to $49.84 per share in Contingent Value Rights (CVRs) that may be payable based on the successful completion of certain development, regulatory and commercial milestones, for a total potential consideration of up to $1.695 billion.
Conatus Pharmaceuticals (NASDAQ: CNAT) 32.6% HIGHER; gaining on Allergan plc deal to acquire Tobira at a huge premium.
Windtree Therapeutics, Inc. (Nasdaq: WINT) 27.3% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for AEROSURF® (lucinactant for inhalation) for the treatment of premature infants with respiratory distress syndrome (RDS). AEROSURF is a novel, investigational combination drug/device product that is being developed to deliver aerosolized KL4 surfactant to premature infants with RDS, potentially reducing the need for invasive endotracheal intubation and mechanical ventilation to administer surfactant therapy.
Ascena Retail Group (NASDAQ: ASNA) 23.8% LOWER; reported Q4 EPS of $0.08, $0.08 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $1.81 billion versus the consensus estimate of $1.77 billion. Comps fell 4%. Ascena Retail Group sees FY2017 EPS of $0.60 - $0.65, versus the consensus of $0.83. Ascena Retail Group sees FY2017 revenue of $6.9 - $7.0 billion, versus the consensus of $7.17 billion.
Galmed Pharma (NASDAQ: GLMD) 23% HIGHER; gaining on Allergan plc deal to acquire Tobira at a huge premium.
Galectin Therapeutics (NASDAQ: GALT) 22.8% HIGHER; gaining on Allergan plc deal to acquire Tobira at a huge premium.
MGT Capital Investments, Inc. (NYSE: MGT) 12.7% LOWER; announced that the New York Stock Exchange informed the Company late yesterday afternoon that it will not approve the listing on the Exchange of the 43.8 million shares that the Company is required to issue in order to complete the closing of the D-Vassive merger. The Company and John McAfee remain committed to closing the transaction and are exploring alternatives.
SeaWorld Entertainment (NYSE: SEAS) 9% LOWER; declared a quarterly dividend of $0.10 per share, or $0.4 annualized. The company expects to redeploy this additional capital to shareholders by opportunistically repurchasing the company's shares in the open market during the remainder of 2016. The Board has also decided to suspend the company's quarterly dividend subsequent to this dividend declaration.
HNI Corporation (NYSE: HNI) 7.8% LOWER; announced that revenue and earnings for the third quarter and fiscal year 2016 are expected to be below the Corporation's previous outlook. Demand in the office furniture and hearth segments is expected to be lower than previously forecasted. Office furniture business sales will be lower than expected due to overall softer than anticipated demand, subdued small business confidence and lower than anticipated project activity. Hearth sales will be lower due to slower than expected housing starts, acquisition integration and acquired dealer transitions timing, and continued decline in pellet appliances. HNI now estimates third quarter sales to be down 4 to 7 percent compared to previous guidance of flat to up 3 percent. As a result, the Corporation expects third quarter non-GAAP earnings per diluted share to be in the range of $0.74 to $0.79 compared to its previous guidance of $0.90 to $0.95. *** The Street sees Q3 revenue of $631.5 million and EPS of $0.95.
Seres Therapeutics, Inc. (NASDAQ: MCRB) 7.6% HIGHER; Jim Cramer positive comments.
Intercept Pharmaceuticals Inc (NASDAQ: ICPT) 6.2% HIGHER; gaining on Allergan plc deal to acquire Tobira at a huge premium.
Pier 1 Imports, Inc. (NYSE: PIR) 6.1% HIGHER; Alden Global Capital files 13D showing 9.5% stake.
Encana Corporation (NYSE: ECA) 6% LOWER; announced today the pricing of its public offering ("Offering") of common shares ("Shares") of Encana. Encana agreed to sell 107,000,000 Shares at a public offering price of US$9.35 per Share for gross proceeds to Encana of US$1,000,450,000.
Hortonworks (NASDAQ: HDP) 5% HIGHER; IBM (NYSE: IBM) and Hortonworks (NASDAQ: HDP) today announced the planned availability of Hortonworks Data Platform (HDP®) for IBM Power Systems enabling POWER8 clients to support a broad range of new applications while enriching existing ones with additional data sources.
Amphastar Pharmaceuticals Inc. (NASDAQ: AMPH) 5% HIGHER; will replace Cirrus Logic in the S&P SmallCap 600 after the close of trading on Wednesday, September 21.
Oclaro, Inc. (Nasdaq: OCLR) 5% LOWER; announced that it intends to offer, subject to market conditions and other considerations, 13,000,000 newly issued shares (the "Shares") of common stock,
Zafgen, Inc. (Nasdaq: ZFGN) 4.9% HIGHER; announced that the Company has recently initiated dosing in the multiple ascending dose (MAD) cohorts of its ongoing Phase 1 clinical trial of ZGN-1061. The initiation of the MAD portion was triggered following a review of the initial safety and tolerability data from the first two cohorts of the single ascending dose (SAD) portion of the clinical trial. ZGN-1061 is a second-generation, differentiated MetAP2 inhibitor in development for severe and complicated obesity indications.
Chesapeake Energy (NYSE: CHK) 4.4% LOWER; Carl Icahn lowered his stake to 35,344,000 from 73,050,000 citing tax planning purposes.
Herman Miller, Inc. (NASDAQ: MLHR) 3.6% LOWER; lower on HNI warning.
8point3 Energy Partners (NASDAQ: CAFD) 3.2% HIGHER; declared a quarterly dividend of $0.2406 per share, or $0.9624 annualized. This is a 3.5% increase from the prior dividend of $0.2325.
Sarepta Therapeutics (NASDAQ: SRPT) 3% HIGHER; adds to gains after jumping 74% intra-day on FDA approval.
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