Pre-Open Stock Movers 8/18: (SEMI) (CIE) (RPTP) Higher; (EARS) (CERU) (PTLA) Lower
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- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
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Auris Medical Holding AG (Nasdaq: EARS) 64.1% LOWER; announced top-line results from the Phase 3 TACTT2 trial with Keyzilen (AM-101) in acute inner ear tinnitus. The TACTT2 trial did not meet the two co-primary efficacy endpoints of statistically significant changes in tinnitus loudness and tinnitus burden compared to placebo. Data from the TACTT2 trial support the positive safety profile established in previous studies, and results from the second Phase 3 trial, TACTT3, are expected in the fourth quarter of 2016.
Cerulean Pharma Inc. (Nasdaq: CERU) 62.8% LOWER; announced top-line results from the Company’s Phase 2, randomized, multi-center clinical trial of its lead candidate, CRLX101, in combination with Avastin® (bevacizumab) in the treatment of patients with advanced renal cell carcinoma (RCC). The study demonstrated no statistically significant difference in median PFS and objective response rate for the CRLX101 combination compared to SOC.
Semiconductor Limited (Nasdaq: SEMI) 40.9% HIGHER; GlobalWafers Co., Ltd. and SunEdison Semiconductor Limited, both leaders in the manufacture and sale of silicon wafers to the semiconductor industry, announced that they have entered into a definitive agreement for the acquisition by GlobalWafers, through a wholly owned subsidiary, of all of the outstanding ordinary shares of SunEdison Semiconductor in a transaction valued at US$683 million, including SunEdison Semiconductor outstanding net indebtedness.
Cobalt International Energy's (NYSE: CIE) 29.5% HIGHER; CFO David Powell and its CEO Timothy Cutt acquired 100,000 shares each, according to SEC filings. CEO Tim Cutt also purchased 100,000 shares.
Portola Pharmaceuticals Inc. (Nasdaq: PTLA) 18.5% LOWER; announced that it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its Biologics License Application (BLA) for AndexXa™ (andexanet alfa). An FDA-designated Breakthrough Therapy, AndexXa is in development for patients treated with a direct (apixaban, rivaroxaban, or edoxaban) or indirect (enoxaparin) Factor Xa inhibitor when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding. Currently, there is no FDA-approved antidote for Factor Xa inhibitors.
Raptor Pharma (Nasdaq: RPTP) 16.1% HIGHER; Retrophin is considering an acquisition of Raptor Pharma, according to Bloomberg, citing sources.
Digital Ally (Nasdaq: DGLY) 15.8% HIGHER; Maxim Group initiated coverage on Digital Ally with a Buy rating and a price target of $15.
Karyopharm Therapeutics (Nasdaq: KPTI) 14.4% HIGHER; H.C. Wainwright initiated coverage on Karyopharm Therapeutics with a Buy rating and a price target of $15.
OncoMed Pharmaceuticals, Inc. (Nasdaq: OMED) 14.3% LOWER; announced the pricing of an underwritten public offering of 5,500,000 shares of its common stock at a public offering price of $10.00 per share. Net proceeds to OncoMed from this offering are expected to be approximately $51.4 million after underwriting discounts and commissions and estimated offering expenses.
Briggs & Stratton (NYSE: BGG) 11.4% LOWER; reported Q4 EPS of $0.46, $0.08 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $502 million versus the consensus estimate of $562.33 million. Briggs & Stratton sees FY2017 EPS of $1.26 - $1.41, versus the consensus of $1.34
Ballard Power Systems (Nasdaq: BLDP) 10.2% HIGHER; announced that it has signed a Distribution Agreement with Toyota Tsusho Corporation ("TTC), a member Company of the Toyota Group. Under the agreement, TTC will act as a distributor of Ballard-powered fuel cell products in Japan. The initial term of the agreement runs to December 31, 2020.
NetApp (Nasdaq: NTAP) 8.8% HIGHER; reported Q1 EPS of $0.46, $0.10 better than the analyst estimate of $0.36. Revenue for the quarter came in at $1.29 billion versus the consensus estimate of $1.26 billion. NetApp sees Q2 2017 EPS of $0.51-$0.56, versus the consensus of $0.55. NetApp sees Q2 2017 revenue of $1.265-1.415 billion, versus the consensus of $1.33 billion.
Canadian Solar (Nasdaq: CSIQ) 8.3% HIGHER; reported Q2 EPS of $0.68, $0.31 better than the analyst estimate of $0.37. Revenue for the quarter came in at $805.9 million versus the consensus estimate of $717.47 million.
Bonanza Creek Energy, Inc. (Nasdaq: BCEI) 6.3% LOWER; pulling back from a 45 percent gain on Wednesday.
Arrowhead Research (Nasdaq: ARWR) 6.0% HIGHER; Cantor Fitzgerald initiated coverage on Arrowhead Research with a Buy rating and a price target of $15.
Valeant Pharmaceuticals International, Inc. (NYSE: VRX) 5.0% HIGHER; announced that it has obtained the requisite lender approval for an amendment to its credit facility. The Company expects to close the amendment next week, subject to customary closing conditions.
Momo Inc. (Nasdaq: MOMO) 5.0% LOWER; announced that the special committee of the Company’s board of directors received a letter from Mr. Yan Tang (“Mr. Tang”), co-founder, chairman and chief executive officer of the Company, Matrix Partners China II Hong Kong Limited (“Matrix”), Sequoia Capital China Investment Management L.P. (“Sequoia”) , Alibaba Investment Limited (“Alibaba”), Rich Moon Limited (“Yunfeng”) and Huatai Ruilian Fund Management Co., Ltd. (“Huatai Ruilian,” and together with Mr. Tang, Matrix, Sequoia, Alibaba and Yunfeng, the “Buyer Group”), stating that the Buyer Group would like to withdraw the non-binding going private proposal dated June 23, 2015, with immediate effect.
Agilent Technologies (NYSE: A) 4.4% LOWER; reported Q3 EPS of $0.49, $0.02 better than the analyst estimate of $0.47. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.05 billion. Agilent Technologies sees Q4 2016 EPS of $0.50-$0.52, versus the consensus of $0.54. Agilent Technologies sees Q4 2016 revenue of $1.05 - $1.07 million, versus the consensus of $1.09 million.
Wal-mart (NYSE: WMT) 2.8% HIGHER; reported Q2 EPS of $1.07, $0.05 better than the analyst estimate of $1.02. Revenue for the quarter came in at $120.9 billion versus the consensus estimate of $120.16 billion. Wal-mart sees FY2017 EPS of $4.15-$4.35, versus prior guidance of $4.00-$4.30 and the consensus of $4.27.
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