Pre-Open Stock Movers 10/14: (DGLY) (AMD) (ICPT) Higher; (SMSI) (HIVE) (NTNX) Lower (more...)
- Futures flat as earnings season gathers pace
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
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Today's Pre-Open Stocks Movers
Smith Micro Software (NASDAQ: SMSI) 20.8% LOWER; announced preliminary revenue results for its fiscal third quarter ended, September 30, 2016. Preliminary revenue for the quarter is expected to be approximately $6.5 million, which is below the company's previously announced guidance of revenue in the range of $7.9 million to $8.4 million. *** The Street sees revenue of $8.2 million.
Aerohive Networks (NYSE: HIVE) 20.1% LOWER; Revenue for the third fiscal quarter is expected to be $40 million, which is below the Company's previously stated guidance of $46 million to $50 million (*** cons. is $47.96 million). On a GAAP basis, the Company expects net loss per share for the third fiscal quarter to be between $0.19 to $0.20, compared with previously stated guidance of a net loss of $0.14 to $0.20 per share. On a non-GAAP basis, the Company expects net loss per share to be between $0.06 to $0.07, compared with previously stated guidance of a loss of $0.01 to $0.07 per share. (*** cons. is -0.04)
Natural Health Trends Corp. (NASDAQ: NHTC) 15% LOWER; The Company estimates total revenue for the quarter ended September 30, 2016 to be $70.7 million, which represents a decrease of 12% compared to $80.8 million in the third quarter of 2015.
Digital Ally, Inc. (Nasdaq: DGLY) 12.9% HIGHER; announced that on October 13, 2016, the Federal District Court issued a ruling that denied the request of Taser International, Inc. ("Taser") to continue the stay of discovery on the Antitrust claims included in Digital Ally's lawsuit against Taser. The ruling allows Digital Ally to commence discovery, which eventually will include requests for production of documents, interrogatories, and depositions of Taser employees, former employees and consultants. The ruling also will also allow Digital Ally to undertake discovery of Taser's customers beginning with subpoenas, production of documents and, in time, depositions of the customer's employees, former employees, officials and consultants.
Reed's (NYSE: REED) 7% HIGHER; reported Q3 EPS of ($0.02), versus ($0.19) reported last year. Revenue for the quarter came in at $12.3 million, versus $10.7 million reported last year.
Enzo Biochem (NYSE: ENZ) 6.5% HIGHER; reported Q4 EPS of $0.77, versus $0.18 reported last year. Revenue for the quarter came in at $26.6 million, versus $25.7 million reported last year.
Amyris, Inc. (Nasdaq: AMRS) 5.5% HIGHER; announced that it has executed a Memorandum of Understanding for a transformative strategic collaboration with a partner that is a leader in food ingredients and nutraceuticals. Upon required approval and execution of definitive agreements with this new partner, Amyris expects to receive cash representing a short-term collaboration investment of $10 million, an equity investment of up to $20 million at $1.40 per share, $100 million in annual revenue starting in 2017 connected to the production and cost improvement of fermentation molecules, and participation in the partners industrial fermentation facilities in Asia.
Landmark Infrastructure Partners LP (Nasdaq: LMRK) 5% LOWER; commenced an underwritten public offering of 3,000,000 common units representing limited partner interests in the Partnership. The Partnership intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 Common Units.
AMD (NASDAQ: AMD) 4.8% HIGHER; Today at the Alibaba Computing Conference, AMD (NASDAQ: AMD) President and CEO Dr. Lisa Su joined Simon Hu, president of Alibaba Cloud, the cloud computing arm of Alibaba Group, to announce a collaboration between the two companies to strengthen research and cooperation related to the use of AMD Radeon Pro GPU technology in Alibaba Cloud's global datacenters. Through the partnership, Alibaba Cloud plans to use AMD technology to help expand its cloud computing offerings and accelerate adoption of its cloud-based services.
Nutanix (NASDAQ: NTNX) 4.4% LOWER; Summit Redstone initiates coverage with a Sell rating and a price target of $16.00.
Intercept Pharmaceuticals, Inc. (Nasdaq: ICPT) 3.4% HIGHER; announced that the European Medicines Agencys (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending marketing authorization of the Companys Marketing Authorization Application (MAA) for obeticholic acid (OCA), an FXR agonist, for the treatment of primary biliary cholangitis (PBC) conditional to the company providing further data post-approval to confirm benefit.
Egalet Corporation (Nasdaq: EGLT) 2.9% LOWER; announced that the U.S. Food and Drug Administration (FDA) will not meet the previously announced October 14 prescription drug user fee act (PDUFA) date for ARYMO™ ER (morphine sulfate).
Citigroup (NYSE: C) 2.3% HIGHER; reported Q3 EPS of $1.24, $0.08 better than the analyst estimate of $1.16. Revenue for the quarter came in at $17.8 billion versus the consensus estimate of $17.34 billion.
ConAgra (NYSE: CAG) 2.2% HIGHER; RBC Capital upgraded from Sector Perform to Outperform with a price target of $54.00 (from $50.00) to reflect new pure-play focus, margin opportunity, and potential M&A upside
Under Armour, Inc. (NYSE: UA) 2.1% HIGHER; Piper Jaffray upgraded from Neutral to Overweight with a price target of $44.00 (from $40.00).
Zumiez, Inc. (NASDAQ: ZUMZ) 2% HIGHER; Piper Jaffray upgraded from Neutral to Overweight with a price target of $28.00.
The Hershey Company (NYSE: HSY) 1.7% HIGHER; announced that John P. Bilbrey, Chairman, President and Chief Executive Officer, intends to retire from the company July 1, 2017. Bilbrey will continue as non-executive chairman of Hersheys Board of Directors following his retirement as President and CEO.
JPMorgan (NYSE: JPM) 1.6% HIGHER; reported Q3 EPS of $1.58, which may not compare with the analyst estimate of $1.39. Revenue for the quarter came in at $25.5 billion versus the consensus estimate of $23.99 billion.
Scorpio Bulkers, Inc. (NYSE: SALT) 1% HIGHER; announced today that the President of the Company, Robert Bugbee, has purchased an aggregate of 30,000 common shares of the Company at an average price of $3.78 per share in the open market.
PNC Financial Services (NYSE: PNC) 0.9% HIGHER; reported Q3 EPS of $1.84, which may not compare with the analyst estimate of $1.78. Revenue for the quarter came in at $3.83 billion versus the consensus estimate of $3.82 billion.
Monster Beverage (NASDAQ: MNST) 0.7% HIGHER; 3-for-1 stock split
Wells Fargo (NYSE: WFC) 0.7% HIGHER; reported Q3 EPS of $1.08, $0.07 better than the analyst estimate of $1.01. Revenue for the quarter came in at $22.3 billion versus the consensus estimate of $22.22 billion.
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