Pre-Open Stock Movers 11/28: (REPH) (CUBA) (TIME) Higher; (SFUN) (TUP) (HRB) Lower (more...)

November 28, 2016 9:21 AM EST
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Today's Pre-Open Stock Movers

Recro Pharma, Inc. (Nasdaq: REPH) 23.1% HIGHER; announced positive results from its second of two Phase III clinical trials evaluating intravenous (IV) meloxicam for the treatment of acute postoperative pain. In this trial, IV meloxicam achieved the primary endpoint of a statistically significant difference in Summed Pain Intensity Difference (SPID) over the first 24 hours (SPID24), compared to placebo, in patients following abdominoplasty surgery. With the positive data from this study, the Company believes this completes the efficacy program for the IV meloxicam New Drug Application (NDA).

Heat Biologics (NASDAQ: HTBX) 17.1% HIGHER; is seeing continued upside after gaining 30% on Friday and 25% on Wednesday (market was closed Thursday).

Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) 15% HIGHER; up on the death of Cuba's Fidel Castro.

Time (NYSE: TIME) 12.7% HIGHER; rejected an $18 per share offer from Edgar Bronfman Jr., according to the New York Post. Bronfman teamed up with Access Industries on the bid.

Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) 10.4% HIGHER; The company and Vivelix Pharmaceuticals, Ltd., announced that they have entered into an exclusive license and collaboration agreement granting Vivelix worldwide rights to develop and market IMO-9200, an antagonist of TLR 7,8 and 9, for non-malignant gastrointestinal disorders. As part of the agreement, Idera has agreed to create and characterize potential back-up compounds for Vivelix.

SouFun Holdings (NYSE: SFUN) 9.6% LOWER; reported Q3 EPS of ($0.03), versus ($0.08) reported last year. Revenue for the quarter came in at $250.1 million, versus $248.5 million reported last year. GUIDANCE: SouFun Holdings sees FY2016 revenue of $927.7 million, versus prior guidance of $1148.6 million

Cognizant Technology (Nasdaq: CTSH) 8.6% HIGHER; Elliott Management Corporation, which manages funds that collectively beneficially own more than 4% of the common stock and equivalents of Cognizant Technology Solutions Corporation (Nasdaq: CTSH), sent a letter to the Board and Management of Cognizant outlining a three-part Value-Enhancement Plan. With a position of approximately $1.4 billion, Elliott ranks among the Company’s largest shareholders.

Centennial Resource Development, Inc. (Nasdaq: CDEV) 6.7% HIGHER; agreed to acquire 100% of the leasehold interests and related upstream assets in Reeves County from Silverback Exploration, LLC (Silverback). On November 21, 2016, an affiliate of Riverstone Holdings LLC (Riverstone) entered into a purchase agreement with Silverback to acquire 100% of its leasehold interests and related upstream assets in Reeves County for an aggregate purchase price of $855 million in cash, subject to certain adjustments.

Finisar (NASDAQ: FNSR) 5% HIGHER; Needham & Company upgraded from Buy to Strong Buy with a price target of $42.00 (from $38).

Southwestern Energy (NYSE: SWN) 3.6% HIGHER; BMO Capital upgraded from Market Perform to Outperform with a price target of $18.

Tupperware Brands (NYSE: TUP) 3% LOWER; B. Riley downgraded from Neutral to Sell with a price target of $47.00.

H&R Block (NYSE: HRB) 2.8% LOWER; BTIG downgrades from Neutral to Sell with a price target of $18, noting the potential impact from expected Trump policies.

ConocoPhillips (NYSE: COP) 1.4% HIGHER; Goldman Sachs upgrades from Neutral to Buy with a price target of $54, implying upside of 20%. The stock was also added to the bank's Conviction List.

Hasbro (NASDAQ: HAS) 1.1% LOWER; Piper Jaffray downgraded from Overweight to Neutral with a price target of $88

Citi (NYSE: C) 1.2% LOWER; Jefferies downgraded from Buy to Hold with a price target of $63.00 (from $58.00) to reflect post-election stock/EPS dynamics.

Wells Fargo (NYSE: WFC) 1% LOWER; Jefferies downgraded from Buy to Hold with a price target of $58.00 (from $50.00) to reflect post-election stock/EPS dynamics.

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