Pre-Open Stock Movers 09/22: (WCIC) (AVXL) (NVAX) Higher; (MLHR) (JBL) (CPK) Lower (more...)
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Today's Pre-Open Stock Movers
WCI Communities, Inc. (NYSE: WCIC) 36.3% HIGHER; Lennar Corporation (NYSE: LEN) and WCI Communities, Inc. (NYSE: WCIC) today announced that they have entered into a definitive merger agreement under which Lennar will acquire all of the outstanding shares of WCI Communities, Inc. ("WCI") common stock in a cash and stock transaction valued at $23.50 per WCI share, representing a 37% premium to WCI's closing stock price on September 21, 2016.
Anavex Life Sciences Corp. (Nasdaq: AVXL) 18.8% HIGHER; presented preclinical data demonstrating that ANAVEX 2-73, a sigma-1 receptor agonist, restores function in a classic animal model of Parkinson’s disease. Significant improvements were seen on all measures: behavioral, histopathological, and neuroinflammatory endpoints.
Herman Miller (NASDAQ: MLHR) 11% LOWER; reported Q1 EPS of $0.60, $0.02 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $598.6 million versus the consensus estimate of $614.2 million. GUIDANCE: Herman Miller sees Q2 2017 EPS of $0.52-$0.60, versus the consensus of $0.60. Herman Miller sees Q2 2017 revenue of $580-600 million, versus the consensus of $601.1 million.
Novavax (NASDAQ: NVAX) 10.8% HIGHER; Director, Gail Bourdreaux, bought 100,000 shares on 09/20 at $1.45, bringing her stake to 200,000 shares.
Galectin Therapeutics (NASDAQ: GALT) 8.9% HIGHER; adds to recent gains
Uranium Resources, Inc. (Nasdaq: URRE) 8.9% HIGHER; announced today that it has entered into an agreement to acquire certain placer mining claims comprising the Sal Rica lithium brine project from Mesa Exploration Corporation. The project is comprised of approximately 9,800 acres (3,960 hectares) of placer mining claims covering a highly prospective target for lithium-enriched brines in the Pilot Valley region of northwestern Utah. The target area is situated within a region of known brine-hosted lithium mineralization and is approximately 25 miles (40 kilometers) north of the town of Wendover, Utah in Box Elder County.
Navidea Biopharmaceuticals, Inc. (NYSE: NAVB) 5.8% HIGHER; has announced it will receive payments totaling $1 million from two recently achieved Lymphoseek commercial milestones under its distribution agreements with U.S. partner Cardinal Health, Inc. (Cardinal) and European partner SpePharm AG, an affiliate of Norgine B.V. (Norgine). Navidea will collect a $500,000 milestone payment from Cardinal based on the sale of a 100,000th patient dose of Lymphoseek (technetium Tc 99m tilmanocept) injection since launch. The Company will also receive a $500,000 payment from Norgine resulting from the European Medicines Agencys (EMA) Committee for Medicinal Products for Human Use (CHMP) positive opinion for the Lymphoseek 50 microgram kit for radiopharmaceutical preparation, a reduced-mass, single-dose vial appropriate for the radiopharmaceutical distribution model in Europe.
SeaWorld Entertainment (NYSE: SEAS) 5.8% HIGHER; Citi upgraded from Neutral to Buy.
Red Hat (NYSE: RHT) 5.2% HIGHER; reported Q2 EPS of $0.55, $0.01 better than the analyst estimate of $0.54. Revenue for the quarter came in at $600 million versus the consensus estimate of $593.34 million. Red Hat sees Q3 2017 EPS of $0.34, versus the consensus of $0.57. Red Hat sees Q3 2017 revenue of $613-623 million, versus the consensus of $615.2 million. Red Hat sees FY2017 EPS of $2.23-$2.25, versus the consensus of $2.21. Red Hat sees FY2017 revenue of $2.415-2.435 billion, versus the consensus of $2.4 billion.
Jabil Circuit (NYSE: JBL) 4.6% LOWER; reported Q4 EPS of $0.28, $0.03 better than the analyst estimate of $0.25. Revenue for the quarter came in at $4.43 billion versus the consensus estimate of $4.27 billion. Jabil Circuit sees Q1 2017 EPS of $0.54-$0.74, versus the consensus of $0.60. Jabil Circuit sees Q1 2017 revenue of $4.8-5.0 billion, versus the consensus of $4.84 billion.
Puma Biotechnology (NYSE: PBYI) 4.3% HIGHER; Credit Suisse raised its price target to $111.00 (from $54.00) on increased Neratinib expectations.
Analogic (NASDAQ: ALOG) 3.3% LOWER; reported Q4 EPS of $1.02, $0.15 worse than the analyst estimate of $1.17. Revenue for the quarter came in at $138 million versus the consensus estimate of $139.03 million.
Chesapeake Utilities Corporation (NYSE: CPK) 2.8% LOWER; announced the pricing of an underwritten public offering of 835,207 shares of its common stock, at a price to the public of $62.26 per share
Alibaba Group (NYSE: BABA) 1.5% HIGHER; PT raised at Stifel and UBS
Sarepta Therapeutics, Inc. (NASDAQ: SRPT) 0.7% HIGHER; announced that it is offering to sell, subject to market and other conditions, up to $225 million of its common stock in an underwritten public offering. Sarepta also intends to grant the underwriters a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering.
Bed Bath & Beyond (NASDAQ: BBBY) 1% HIGHER; reported Q2 EPS of $1.11, in-line with the analyst estimate of $1.16. Revenue for the quarter came in at $2.99 billion versus the consensus estimate of $3.05 billion. Comps fell 1.2 percent versus expectations of a 0.4 percent gain. GUIDANCE: Bed Bath & Beyond sees FY2016 EPS of $4.50-$5.00, versus the consensus of $4.83. For earnings history and earnings-related data on Bed Bath & Beyond (BBBY) click here.
Amazon (NASDAQ: AMZN) 0.5% HIGHER; upgraded at Argus, PT to $900 at BMO
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