Pre-Open Stock Movers 10/19: (CERU) (BANC) (DATA) Higher; (IMPV) (CREE) (MANH) Lower (more...)

October 19, 2016 9:17 AM EDT
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Pre-Open Stock Movers

Cerulean Pharma Inc. (Nasdaq: CERU) 79.7% HIGHER; announced that the Company has entered into a strategic collaboration with Novartis to develop NDC product candidates combining Cerulean’s proprietary Dynamic Tumor Targeting technology with Novartis’ proprietary compounds directed at up to five targets. Cerulean will create NDC candidates, and Novartis is responsible for further development and commercialization of NDC products resulting from the collaboration.

Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) 18% HIGHER; announced that in its Phase 1 dose-escalation study, ganaxolone intravenous (IV) achieved dose levels targeted for efficacy in patients with status epilepticus (SE) and other indications. Status epilepticus is a life-threatening medical emergency associated with high mortality and limited treatments. Typically, single or combination IV antiepileptic drugs are used in an attempt to break the seizures, however there are approximately 45,000 patients in the U.S. who do not respond to first-line treatment.

Banc of California (NYSE: BANC) 15.5% HIGHER; bounces after 30% sell-off Tuesday triggered by a short report. The company reported strong results and is launching an investigation.

Imperva's (NYSE: IMPV) 15.3% LOWER; sale process is on hold, as potential suitors wait to see if the company's growth can improve enough to justify a higher price, according to a report from Bloomberg

Cree (NASDAQ: CREE) 9.5% LOWER; reported Q1 EPS of $0.09, $0.02 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $321.3 million versus the consensus estimate of $322.77 million. GUIDANCE: Cree sees Q2 2017 EPS of $0.13-$0.19, versus the consensus of $0.15. Cree sees Q2 2017 revenue of $310-330 million, versus the consensus of $336.7 million.

Meridian Bioscience, Inc. (Nasdaq: VIVO) 9% LOWER; announced that based on preliminary results, it expects revenues for fiscal year 2016, ended on September 30, 2016, to be approximately $196 million, an increase of 1% compared to the prior year. Diluted earnings per share are expected to be $0.75 to $0.76, including costs related to acquisition activity and costs associated with the reorganization of Diagnostics sales and marketing leadership (in the aggregate, $1.7 million after tax or $0.04 diluted earnings per share). This compares to diluted earnings per share of $0.85 in fiscal 2015. *** The Street sees FY16 revenue of $198.5 million and EPS of $0.86.

Manhattan Associates, Inc. (NASDAQ: MANH) 8.5% LOWER; reported Q3 EPS of $0.45, $0.01 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $152.2 million versus the consensus estimate of $156.15 million. GUIDANCE: Manhattan Associates, Inc. sees FY2016 EPS of $1.82-$1.84, versus prior guidance of $1.78-$1.81 and the consensus of $1.79. Manhattan Associates, Inc. sees FY2016 revenue of $603-609 million, versus prior guidance of $615-620 million and the consensus of $615.98 million.

Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) 6.7% LOWER; today announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock and Series C Convertible Preferred Stock in underwritten public offerings.

Nektar Therapeutics (Nasdaq: NKTR) 6% LOWER; announced the pricing of its previously announced underwritten public offering of $175.5 million in aggregate gross proceeds, or 13,000,000 shares of its common stock at a public offering price of $13.50 per share

Puma Biotechnology, Inc. (NYSE: PBYI) 5.8% LOWER; announced that it is commencing an underwritten public offering of $150 million of shares of its common stock. Puma Biotechnology intends to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of shares of its common stock. All of the shares are being offered by Puma Biotechnology.

Rite Aid (NYSE: RAD) 5.5% LOWER; Kroger (NYSE: KR) is feared to be close to passing on acquiring some of 650 stores Walgreens Boots Alliance (NASDAQ: WBA) and Rite Aid (NYSE: RAD) need to sell to gain regulatory approval for their merger, according to the New York Post.

Tableau Software (NYSE: DATA) 5.4% HIGHER; highlighted as a takeover target in hacked salesforce.com e-mail.

Intel (NASDAQ: INTC) 4.8% LOWER; reported Q3 EPS of $0.80, $0.08 better than the analyst estimate of $0.72. Revenue was $15.8 billion, versus $15.58 billion expected. Adjusted gross margin was 64.8 percent, versus 63.0 percent expected. Guidance: Sees Q4 revenue of $15.7 billion, +/- $800 million and gross margin percentage of 63 percent on a non-GAAP basis. The Street sees Q4 revenue of $15.86 billion.

GNC Holdings (NYSE: GNC) 4.6% HIGHER; met with a range of Chinese buyers in recent weeks to gauge interest in a potential buyout that could be worth $4 billion including debt, according to the Wall Street Journal, citing people familiar with the matter.

Omeros Corporation (Nasdaq: OMER) 4% HIGHER; announced positive results from a Phase 2 clinical trial evaluating the effects of a peroxisome proliferator-activated receptor (PPAR)-gamma agonist in patients with cocaine use disorder (CUD). The trial, designed and conducted by Joy M. Schmitz, Ph.D. and her colleagues at the Center for Neurobehavioral Research on Addiction, University of Texas Health Science Center Houston, demonstrates that the PPAR-gamma agonist reduces craving and improves the integrity of brain white matter in patients with CUD. There currently are no approved medications to treat cocaine addiction. Omeros issued and pending patents in its OMS405 program cover the use of any PPAR-gamma agonist, alone or in combination with other addiction therapies, to treat all forms of addiction, including cocaine, nicotine, opioids, alcohol and other substances of abuse as well as addictive or compulsive behaviors

ServiceNow (NYSE: NOW) 3.9% HIGHER; highlighted as a takeover target in hacked salesforce.com e-mail.

Immunomedics, Inc., (Nasdaq: IMMU) 3.2% HIGHER; announced the issuance of U.S. Patent 9,458,242 for additional claims under the patent family Dosages of immunoconjugates of antibodies and SN-38 for improved efficacy and decreased toxicity. This new patent, which will expire in July 2033, covers the use of labetuzumab govitecan (IMMU-130), the Companys second investigational antibody-drug conjugate (ADC) for solid cancer therapy.

Oasis Petroleum (NYSE: OAS) 2.7% HIGHER; CapitalOne upgraded from Equal-weight to Overweight with a price target of $20.00.

Intuitive Surgical (NASDAQ: ISRG) 2.2% LOWER; reported Q3 EPS of $6.19, $1.06 better than the analyst estimate of $5.13. Revenue for the quarter came in at $683 million versus the consensus estimate of $650.49 million.

St. Jude Medical (NYSE: STJ) 1.7% LOWER; reported Q3 EPS of $0.99, $0.02 worse than the analyst estimate of $1.01. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.5 billion.

Abbott (NYSE: ABT) 1.6% LOWER; reported Q3 EPS of $0.59, $0.01 better than the analyst estimate of $0.58. Revenue for the quarter came in at $5.3 billion versus the consensus estimate of $5.29 billion. GUIDANCE: Abbott sees FY2016 EPS of $2.19 - $2.21, versus prior guidance of $2.14 - $2.24 and the consensus of $2.20.

Yahoo! (NASDAQ: YHOO) 1.5% HIGHER; reported Q3 EPS of $0.20, $0.06 better than the analyst estimate of $0.14. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.31 billion.

Yum! Brands (NYSE: YUM) 1.1% HIGHER; Credit Suisse upgraded from Neutral to Outperform with a price target of $96.00 (from $90.00),



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