Pre-Open Stock Movers 11/07: (NILE) (N) (CEMP) (IONS) Higher; (CXRX) (PLUG) (LB) Lower (more...)
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Pre-Open Stock Movers
Blue Nile (Nasdaq: NILE) 32.4% HIGHER; announced that it has entered into a definitive agreement to be acquired by an Investor Group comprised of funds managed by Bain Capital Private Equity and Bow Street LLC (collectively the Investor Group). The terms of the all-cash deal provide substantial value to Blue Niles stockholders. The Investor Group will acquire 100 percent of the outstanding shares of Blue Nile common stock for approximately $500 million. Blue Nile stockholders will receive $40.75 in cash per share, representing a premium of approximately 34 percent over Blue Niles closing price on November 4, 2016.
Concordia International (NASDAQ: CXRX) 28.3% LOWER; reported Q3 EPS of $0.69, $0.35 worse than the analyst estimate of $1.04. Revenue for the quarter came in at $185.5 million versus the consensus estimate of $206 million. Concordia is suspending guidance as the Company assesses the business under new leadership
NetSuite Inc. (NYSE: N) 20.6% HIGHER; Oracle Corporation (NYSE: ORCL) announced that a majority of the unaffiliated shares of NetSuite Inc. (NYSE: N) were validly tendered and the other conditions to the tender offer have been satisfied. The acquisition of NetSuite will be consummated by Oracle on Monday, November 7, 2016
Cempra, Inc. (Nasdaq: CEMP) 20.5% HIGHER; announced that the majority of the U.S. Food and Drug Administration (FDA) Antimicrobial Drugs Advisory Committee (AMDAC) voted (7-6) that efficacy results of Cempra’s solithromycin outweigh the risks for the treatment of community-acquired bacterial pneumonia (CABP). Members of AMDAC voted unanimously (13-0) that there was substantial evidence of the efficacy of solithromycin for CABP. The committee also voted (12-1) that the risk of hepatotoxicity with solithromycin had not been adequately characterized and discussed a variety of potential approaches to further characterize the existing liver safety information on solithromycin.
Ionis Pharmaceuticals (Nasdaq: IONS) 19.6% HIGHER; Biogen (Nasdaq: BIIB) and Ionis Pharmaceuticals (Nasdaq: IONS) announced that SPINRAZA (nusinersen), an investigational treatment for spinal muscular atrophy (SMA), met the primary endpoint at the interim analysis of CHERISH, the Phase 3 study evaluating SPINRAZA in later-onset (consistent with Type 2) SMA. The analysis found that children receiving SPINRAZA experienced a highly statistically significant improvement in motor function compared to those who did not receive treatment. SPINRAZA demonstrated a favorable safety profile in the study.
Datalink Corporation (Nasdaq: DTLK) 17.9% HIGHER; Insight Enterprises (Nasdaq: NSIT), an Intelligent Technology Solutions provider (Insight or the Company), and Datalink Corporation (Nasdaq: DTLK), a leading provider of IT services and enterprise data center solutions (Datalink), have entered into a definitive merger agreement under which Insight will acquire Datalink for $11.25 per share in cash, representing a 19% premium to Datalinks closing share price on November 4, 2016. The transaction implies an equity purchase price of approximately $258 million and an enterprise value of approximately $196 million (net of cash and debt acquired).
MeetMe (NASDAQ: MEET) 9.8% HIGHER; reported Q3 EPS of $0.10, in-line with the analyst estimate of $0.10. Revenue for the quarter came in at $17.2 million versus the consensus estimate of $17.24 million.
LendingClub (NYSE: LC) 9.2% HIGHER; reported Q3 EPS of ($0.04), $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $112.6 million versus the consensus estimate of $103.31 million.
ARIAD Pharma (NASDAQ: ARIA) 8% HIGHER; reported Q3 EPS of ($0.12), $0.07 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $34.3 million versus the consensus estimate of $42.93 million. ARIAD Pharma reaffirmed FY2016 guidance.
Chemours (NYSE: CC) 7% HIGHER; reported Q3 EPS of $0.61, $0.28 better than the analyst estimate of $0.33. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.4 billion.
Windstream Holdings, Inc. (Nasdaq: WIN) 5% HIGHER; Windstream and EarthLink Holdings Corp. (Nasdaq: ELNK) announced that their boards of directors have unanimously approved a definitive mergeragreement under which Windstream and EarthLink will merge in an all-stock transaction valued at approximately $1.1 billion, including debt.
MGM Resorts (NYSE: MGM) 5.6% HIGHER; reported Q3 EPS of $0.53, $0.42 better than the analyst estimate of $0.11. Revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.38 billion.
Plug Power (NASDAQ: PLUG) 5.6% LOWER; reported Q3 EPS of ($0.07), $0.02 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $17.6 million versus the consensus estimate of $34.84 million.
Weatherford International plc (NYSE: WFT) 5.5% HIGHER; announces that upon extensive review, which included the administrative agent under our credit facilities and with our internal counsel, the Company confirms that the calculation of adjusted EBITDA should be (and is now) calculated with the same formula for both of the Company's Leverage Ratio covenants, i.e. the Specified Senior Leverage Ratio and the Specified Leverage and Letters of Credit (LC) Ratio, in the revolving and term loan credit facilities.
TherapeuticsMD (NYSE: TXMD) 5% HIGHER; Guggenheim assumes coverage with a Buy rating and a price target of $33.00
Biogen (NASDAQ: BIIB) 4% HIGHER; Piper Jaffray upgraded from Neutral to Overweight with a price target of $335.00.
Cognizant (NASDAQ: CTSH) 4% HIGHER; reported Q3 EPS of $0.86, $0.02 better than the analyst estimate of $0.84. Revenue for the quarter came in at $3.45 billion versus the consensus estimate of $3.45 billion. GUIDANCE: Cognizant sees Q4 2016 EPS of $0.85-$0.88, versus the consensus of $0.86. Cognizant sees Q4 2016 revenue of $3.45-3.51 billion, versus the consensus of $3.52 billion. Cognizant sees FY2016 EPS of $3.38-$3.41, versus the consensus of $3.37. Cognizant sees FY2016 revenue of $13.47-13.53 billion, versus the consensus of $13.55 billion.
L Brands (NYSE: LB) 1% LOWER; Jefferies downgraded from Hold to Underperform with a price target of $50.00
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