After-Hours Stock Movers 05/18: Cisco Plunges on Weak Results and Outlook; Synopsys Jumps on Results (more...)

May 18, 2022 5:53 PM EDT

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After-Hours Stock Movers:

Enanta Pharmaceuticals, Inc. (NASDAQ: ENTA) 17% LOWER; reported topline results for RSVP, its Phase 2b study evaluating EDP-938, a potent N-protein inhibitor, in otherwise healthy adults with community-acquired RSV. In this low-risk patient population which had mild, self-resolving upper respiratory tract infection, EDP-938 did not meet the primary endpoint of reduction in total symptom score compared to placebo, or the secondary antiviral endpoints. However, a statistically significant difference in the number of subjects achieving undetectable RSV RNA at the end of treatment at Day 5 was observed with EDP-938 compared to placebo (p=0.033). Further, EDP-938 demonstrated a favorable safety profile, consistent with that observed in approximately 500 subjects exposed to date. Enanta continues to evaluate EDP-938 in high-risk populations in ongoing and planned clinical studies, including pediatric patients, adult hematopoietic cell transplant recipients, and a high-risk adult population, all of which have the most significant unmet need.

Cisco Systems (NASDAQ: CSCO) 13% LOWER; reported Q3 EPS of $0.87, $0.01 better than the analyst estimate of $0.86. Revenue for the quarter came in at $12.8 million versus the consensus estimate of $13.34 million. Cisco Systems sees Q4 2022 EPS of $0.76-$0.84, versus the consensus of $0.92. Revenue: (1)% to (5.5)% decline year over year. Cisco Systems sees FY2022 EPS of $3.29-$3.37, versus the consensus of $3.44.

Juniper Networks, Inc. (NASDAQ: JNPR) 6% LOWER; falls after Cisco's results

Bath & Body Works, Inc. (NYSE: BBWI) 6% LOWER; reported Q1 EPS of $0.64, $0.14 better than the analyst estimate of $0.50. Revenue for the quarter came in at $1.45 billion versus the consensus estimate of $1.38 billion. The updated fiscal 2022 outlook reflects the company’s decision to accelerate investments in information technology and its customer loyalty program, as well as projected increases in inflationary pressures. The company is forecasting second quarter earnings from continuing operations per diluted share between $0.60 and $0.65, compared to $0.77 earnings from continuing operations per diluted share in the prior year. For fiscal 2022, the company is forecasting earnings from continuing operations per diluted share between $3.80 and $4.15, compared to $4.51 adjusted earnings from continuing operations per diluted share in 2021 and its previous guidance of between $4.30 and $4.70.

Arista Networks, Inc. (NASDAQ: ANET) 5% LOWER; falls after Cisco's results.

Synopsys (NASDAQ: SNPS) 4% HIGHER; reported Q2 EPS of $2.50, $0.13 better than the analyst estimate of $2.37. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.26 billion. The company expects Q3 non-GAAP EPS in the range of $2.01- $2.06 and revenue in the range of $1.21 billion – 1.24 billion. This is better than the consensus of $1.61 and $1.14 billion, respectively. For the full 2022-year, the company expects EPS in the range of $8.63 - $8.70 and revenue in the range of $5 billion – $5.05 billion. This compares favorably to the consensus of $7.90 and $4.81 billion, respectively.

Under Armour, Inc. (NYSE: UAA) 2% LOWER; Patrik Frisk will step down as President and CEO and as a member of the board of the company, effective June 1, 2022.



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