Pre-Open Stock Movers 10/20: (DRWI) (SCYX) (IMAX) Higher; (RIGL) (SCSS) (EBAY) Lower (more...)

October 20, 2016 9:21 AM EDT

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Today's Pre-Open Stock Movers

DragonWave Inc. (Nasdaq: DRWI) 48.9% HIGHER; announced Sprint (NYSE: S) has selected its microwave backhaul equipment for network deployment as part of the company's densification and optimization strategy.

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) 35.7% LOWER; announced results for the second of two double-blind studies in the FIT Phase 3 clinical program for fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, in adult chronic/persistent immune thrombocytopenia (ITP). The primary endpoint in the study was a stable platelet response, defined as platelet counts greater than 50,000/uL of blood on at least four of the last six scheduled clinic visits between weeks 14 and 24 of treatment. In the FIT 2 (Study 048) Phase 3 study, the fostamatinib response rate was 18%, consistent with the recently reported FIT 1 (Study 047) Phase 3 study. In Study 048, one patient in the placebo group (4%) achieved a stable platelet response; therefore the difference between those on treatment and those on placebo did not reach statistical significance (p=0.152) and the study did not meet its primary endpoint. When the data from both studies are combined, however, this difference is statistically significant (p=0.007). Data from both FIT Phase 3 studies and the open-label extension study demonstrates the consistent benefit of fostamatinib in ITP.

Select Comfort Corp (NASDAQ: SCSS) 17.8% LOWER; reported Q3 EPS of $0.56, $0.01 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $368 million versus the consensus estimate of $391.02 million. GUIDANCE: Select Comfort Corp sees FY2016 EPS of $1.15-$1.25, versus the consensus of $1.24.

DXP Enterprises, Inc. (NASDAQ: DXPE) 17.3% LOWER; Sales are anticipated to be between $228.0 million and $231.0 million for the third quarter of 2016. (Street sees Q3 sales of $250.7 million).

Organovo Holdings, Inc. (Nasdaq: ONVO) 14.3% LOWER; announced that it has commenced an underwritten public offering of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to the completion, size and terms of the offering.

SCYNEXIS (NASDAQ: SCYX) 12.6% HIGHER; H.C. Wainwright initiates coverage with a Buy rating and a price target of $14.00.

JAKKS Pacific (NASDAQ: JAKK) 13.5% LOWER; reported Q3 EPS of $0.82, $0.28 worse than the analyst estimate of $1.10. Revenue for the quarter came in at $382.8 million versus the consensus estimate of $338.35 million. GUIDANCE: JAKKS Pacific sees FY2016 revenue of $755 million, versus prior guidance of $800 million and the consensus of $800.6 million. The Company was looking for FY16 Adjusted EBITDA of approximately $65.0 million. For the full year 2016, the Company now expects Adjusted EBITDA to grow by 4% to approximately $53.0 million.

eBay (NASDAQ: EBAY) 9% LOWER; reported Q3 EPS of $0.45, $0.01 better than the analyst estimate of $0.44. Revenue for the quarter came in at $2.22 billion versus the consensus estimate of $2.19 billion. GUIDANCE: eBay sees Q4 2016 EPS of $0.52-$0.54, versus the consensus of $0.54. eBay sees Q4 2016 revenue of $2.36-2.41 billion, versus the consensus of $2.40.

The Manitowoc Company, Inc. (NYSE: MTW) 8.6% LOWER; announced today preliminary results for its third quarter ended September 30, 2016.

Fairmount Santrol (NYSE: FMSA) 8.3% LOWER; announced that it has commenced an underwritten public offering of 28,000,000 shares of Fairmount Santrol common stock. The underwriter will be granted a 30-day option to purchase up to an additional 4,200,000 shares of common stock.

Avinger, Inc. (Nasdaq: AVGR) 7.8% HIGHER; announced that the company has received expanded indications from the U.S. Food and Drug Administration (FDA) recognizing the Pantheris Lumivascular atherectomy system as a technology that can be used for both therapeutic and diagnostic purposes.

Puma Biotechnology, Inc. (NYSE: PBYI) 7.5% LOWER; announced the pricing of an underwritten public offering of 3,750,000 shares of its common stock at a public offering price of $40.00 per share. The offering is expected to close on or about October 25, 2016, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to 562,500 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares are being sold by Puma Biotechnology.

IMAX Corp. (NYSE: IMAX) 7.4% HIGHER; reported Q3 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $86.6 million versus the consensus estimate of $73.25 million.

TrueBlue (NYSE: TBI) 6.3% LOWER; reported Q3 EPS of $0.70, $0.05 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $697.1 million versus the consensus estimate of $715.69 million. GUIDANCE: TrueBlue sees Q4 2016 EPS of $0.54-$0.59, versus the consensus of $0.69. TrueBlue sees Q4 2016 revenue of $670-686 million, versus the consensus of $776.5 million.

Bj's Restaurants, Inc. (NASDAQ: BJRI) 6.2% LOWER; reported Q3 EPS of $0.30, $0.03 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $233.7 million versus the consensus estimate of $239.64 million. Comparable restaurant sales declined 3.4%.

American Express (NYSE: AXP) 5.2% HIGHER; reported Q3 EPS of $1.24, $0.28 better than the analyst estimate of $0.96. Revenue for the quarter came in at $7.8 billion versus the consensus estimate of $7.72 billion. The company now expects GAAP earnings per share for 2016 to be between $5.65 and $5.75, which includes the restructuring charges taken in the first three quarters of 2016. The adjusted earnings per share outlook, which excludes restructuring charges, is now $5.90 to $6.00. This is higher than the prior estimate of adjusted full year earnings per share at the high end of the company’s initial $5.40 to $5.70 range. *** The Street sees FY16 EPS of $5.51.

Citrix Systems (NASDAQ: CTXS) 5% HIGHER; reported Q3 EPS of $1.32, $0.13 better than the analyst estimate of $1.19. Revenue for the quarter came in at $841.3 million versus the consensus estimate of $827.21 million. GUIDANCE: Citrix Systems sees FY2016 EPS of $5.18-$5.20, versus the consensus of $5.06. Citrix Systems sees FY2016 revenue of $3.40-3.41 billion, versus the consensus of $3.39 billion.

Mattel (NASDAQ: MAT) 5% HIGHER; reported Q3 EPS of $0.70, $0.01 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.77 billion.

Landstar System (NASDAQ: LSTR) 4.9% HIGHER; reported Q3 EPS of $0.86, $0.05 better than the analyst estimate of $0.81. Revenue for the quarter came in at $788 million versus the consensus estimate of $778.16 million.

United Rentals (NYSE: URI) 4.5% HIGHER; reported Q3 EPS of $2.58, $0.14 better than the analyst estimate of $2.44. Revenue for the quarter came in at $1.51 billion versus the consensus estimate of $1.52 billion. GUIDANCE: United Rentals sees FY2016 revenue of $5.65-5.75 billion, versus prior guidance of $5.6-5.8 billion and the consensus of $5.74 million. Sees Adjusted EBITDA of $2.7-$2.75 billion, versus prior of $2.65-$2.75 billion.

Rite Aid Corporation (NYSE: RAD) 4.2% HIGHER; Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and Rite Aid Corporation (NYSE: RAD) today announced that, in accordance with the terms of their merger agreement dated 27 October 2015, they have mutually agreed to extend the end date of their merger agreement from 27 October 2016 to 27 January 2017. The companies now expect the transaction will close in early calendar 2017.

HealthEquity, Inc. (Nasdaq: HQY) 2.8% LOWER; announced the commencement of an underwritten secondary offering of shares of its common stock. Certain of HealthEquity’s stockholders are offering 2,500,000 shares of the company’s common stock for sale. Additionally, the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 375,000 shares of the company’s common stock. HealthEquity will not receive any proceeds from the sale of the shares offered by the selling stockholders.

Verizon Communications (NYSE: VZ) 2.2% LOWER; reported Q3 EPS of $1.01, $0.02 better than the analyst estimate of $0.99. Revenue for the quarter came in at $30.9 billion versus the consensus estimate of $31.08 billion.

Willis Towers Watson (NASDAQ: WLTW) 2% LOWER; Deutsche Bank downgraded from Hold to Sell with a price target of $122.

Tesla Motors (NASDAQ: TSLA) 1.5% LOWER; announces self-driving hardware update for all upcoming vehicles.

Expedia (NASDAQ: EXPE) 1.1% HIGHER; Pacific Crest upgraded from Sector Weight to Overweight with a price target of $160. Analyst Brad Erickson noted positive HomeAway checks, along with favorable risk/reward.



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