Pre-Open Stock Movers 10/18: (NFLX) (SM) (TACO) Higher; (BMI) (NKTR) (IBM) Lower (more...)
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Today's Pre-Open Movers
Netflix (NASDAQ: NFLX) 17.1% HIGHER; reported Q3 EPS of $0.12, $0.06 better than the analyst estimate of $0.06. Revenue for the quarter came in at $2.29 billion versus the consensus estimate of $2.28 billion. Q3 U.S. subscriber additions were 370K, versus the consensus of 310K. Q3 Intl. streaming additions were 3.2 million, versus consensus of 2 million. For Q4, Netflix forecast 5.2 million global net adds, with 1.45 million net adds in the US (cons is 1M) and 3.75 million new members internationally (cons is 3.37 million). The company sees Q4 revenue of $2.34 billion, versus the consensus of $2.4 billion. Sees Q4 EPS of $0.13, versus the consensus of $0.07.
Catalyst Biosciences, Inc. (Nasdaq: CBIO) 14.1% HIGHER; announced that it has entered into a definitive agreement to sell one of its neuronal nicotinic receptor (NNR) assets that were under development by Targacept prior to its 2015 merger with Catalyst.
SM Energy Company (NYSE: SM) 9.9% HIGHER; entered into a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the Company’s Midland Basin footprint to approximately 82,450 net acres.
Resources Connection (NASDAQ: RECN) 8.9% HIGHER; Plans 6M Share Modified Dutch Auction Tender at $13.50-$16.
Merrimack Pharmaceuticals (NASDAQ: MACK) 7.8% HIGHER; Shire plc (Nasdaq: SHPG) announced that the European Commission (EC) has granted Marketing Authorization of ONIVYDE® (pegylated liposomal irinotecan hydrochloride trihydrate), also known as nal-IRI or MM-398, for the treatment of metastatic adenocarcinoma of the pancreas, in combination with 5-fluorouracil (5-FU) and leucovorin (LV), in adult patients who have progressed following gemcitabine-based therapy. ONIVYDE is the first and only approved treatment option for this patient population.
Del Taco Restaurants (NASDAQ: TACO) 7.5% HIGHER; reported Q3 EPS of $0.13, $0.01 better than the analyst estimate of $0.12. Revenue for the quarter came in at $104.4 million versus the consensus estimate of $101.61 million. GUIDANCE: Del Taco Restaurants sees FY2016 EPS of $0.53-$0.56, versus the consensus of $0.55. Del Taco Restaurants sees FY2016 revenue of $446-449 million, versus prior guidance of $439-449 million and the consensus of $446.8 million.
Badger Meter (NYSE: BMI) 6.5% LOWER; reported Q3 EPS of $0.30, $0.03 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $96.3 million versus the consensus estimate of $105.66 million.
The Medicines Company (Nasdaq: MDCO) 6% HIGHER; announced top-line results from the interim analysis with Day 90 follow-up for all 501 patients enrolled in the ongoing ORION-1 study of PCSK9si, its investigational first-in-class PCSK9 synthesis inhibitor. Data from the interim analysis confirm the significant and durable LDL-C reduction demonstrated up to Day 90 in the preceding Phase 1 study. PCSK9si was well tolerated and no material safety issue was observed in the Day 90 interim analysis of unblinded safety data, including no investigational drug-related elevation of liver enzymes, neuropathy or change in renal function. Injection site reactions were infrequent, mild or moderate, and short-lived.
Nektar Therapeutics (Nasdaq: NKTR) 4.3% LOWER; announced that it has commenced an underwritten public offering of $175 million of shares of its common stock. In connection with this offering, Nektar will also grant to the underwriters a 30-day option to purchase up to an additional $26.25 million of shares of common stock. J.P. Morgan is acting as the sole book-running manager in the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Domino's Pizza (NYSE: DPZ) 3.9% HIGHER; reported Q3 EPS of $0.96, $0.07 better than the analyst estimate of $0.89. Revenue for the quarter came in at $566.7 million versus the consensus estimate of $541.47 million. Domestic same store sales grew 13.0% during the quarter versus the year-ago period, which represents the 22nd consecutive quarter of positive sales in the U.S. business.
Celanese Corp. (NYSE: CE) 3.8% HIGHER; reported Q3 EPS of $1.67, $0.06 better than the analyst estimate of $1.61. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.38 billion.
IBM (NYSE: IBM) 3.3% LOWER; reported Q3 EPS of $3.29, $0.05 better than the analyst estimate of $3.24. Revenue for the quarter came in at $19.2 billion versus the consensus estimate of $19 billion. Reaffirms outlook.
Sarepta Therapeutic (NASDAQ: SRPT) 3% HIGHER; Credit Suisse initiates coverage with a Outperform rating and a price target of $68.00.
Visa Inc. (NYSE: V) 1.5% LOWER; announced that Charlie Scharf is resigning as chief executive officer effective December 1, 2016, and the board of directors has unanimously voted to appoint Alfred F. Kelly, Jr. as CEO. Mr. Kelly, a current Visa board member, is the president and chief executive officer of Intersection Co. and the former president of American Express Co.
Intel (NASDAQ: INTC) 1.5% HIGHER; Barclays upgraded from Equalweight to Overweight with a price target of $45.00.
GigOptix (NYSE: GIG) 1.5% HIGHER; reported Q3 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $15.8 million versus the consensus estimate of $15.52 million. GUIDANCE: GigOptix sees Q4 2016 revenue of $16.0-16.2 million.
Depomed Inc. (Nasdaq: DEPO) 0.8% HIGHER; announced that it has entered into a settlement agreement (Agreement) with its second largest shareholder, Starboard Value LP (together with its affiliates, Starboard), regarding the composition of the Depomed, Inc. (the Company or Depomed) Board of Directors (the Board). Starboard has agreed to withdraw its proxy solicitation and Special Shareholder Meeting request, thereby cancelling the previously scheduled November 15, 2016 Special Shareholder Meeting.
Chipotle Mexican Grill (NYSE: CMG) 0.3% LOWER; Raymond James downgraded from Market Perform to Underperform.
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