Today's After-Hours Stock Movers:

PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS) 74.4% HIGHER; announced FDA authorization to proceed with VANGARD, a potentially pivotal clinical trial to evaluate PB1046 as a treatment for hospitalized COVID-19 patients who are at high risk for rapid clinical deterioration and acute respiratory distress syndrome (ARDS).

Semtech (NASDAQ: SMTC) 13.6% HIGHER; reported Q1 EPS of $0.35, $0.03 better than the analyst estimate of $0.32. Revenue for the quarter came in at $132.7 million versus the consensus estimate of $129.28 million. Semtech sees Q2 2021 EPS of $0.40-$0.44, versus the consensus of $0.35. Semtech sees Q2 2021 revenue of $138-146 million, versus the consensus of $132.65 million.

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 10.7% LOWER; announced that it intends to offer and sell $500 million of its common stock, subject to market and other conditions, in an underwritten public offering. All of the shares in the offering are to be sold by Iovance. Iovance intends to grant the underwriters a 30-day option to purchase up to $75 million of additional shares of common stock at the public offering price, less the underwriting discounts and commissions.

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 9.8% LOWER; announced that it intends to offer and sell, in an underwritten public offering and subject to market and other conditions, $250,000,000 of its common stock. All of the shares are being offered by Arena. In addition, Arena intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Plantronics (NYSE: PLT) 7.3% LOWER; reported Q4 EPS of $0.30, $0.21 better than the analyst estimate of $0.09. Revenue for the quarter came in at $403 million versus the consensus estimate of $386.91 million. Plantronics sees Q1 2021 EPS of ($0.18)-$0.22, versus the consensus of $0.25. Plantronics sees Q1 2021 revenue of $330-365 million, versus the consensus of $383.5 million.

Toll Brothers (NYSE: TOL) 7.3% HIGHER; reported Q2 EPS of $0.59, $0.11 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.55 billion versus the consensus estimate of $1.57 billion.

Workday (NASDAQ: WDAY) 6.5% HIGHER; reported Q1 EPS of $0.44, $0.03 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1 billion. Now expect fiscal 2021 subscription revenue in a range of $3.67 billion to $3.69 billion. We expect second-quarter subscription revenue of $913.0 million to $915.0 million. We are raising our fiscal 2021 non-GAAP operating margin guidance to 16.0%.

Spirit AeroSystems Holdings, Inc. (NYSE: SPR) 6.4% HIGHER; gains on Boeing 737 MAX resumed production news

Coherent, Inc. (NASDAQ: COHR) 6.1% LOWER; reported Q2 EPS of $0.61, $0.09 better than the analyst estimate of $0.52. Revenue for the quarter came in at $293.1 million versus the consensus estimate of $306.08 million.

Cerence Inc. (NASDAQ: CRNC) 4.7% LOWER; announced today that it intends to offer, subject to market conditions and other factors, $150.0 million aggregate principal amount of convertible senior notes due 2025 (the notes) in a private offering (the offering) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). In connection with the offering, Cerence expects to grant the initial purchasers an option to purchase up to an additional $25.0 million aggregate principal amount of notes.

HP Inc. (NYSE: HPQ) 4.5% LOWER; reported Q2 EPS of $0.51, $0.06 better than the analyst estimate of $0.45. Revenue for the quarter came in at $12.5 billion versus the consensus estimate of $12.85 billion. HP Inc. sees Q3 2020 EPS of $0.39-$0.45, versus the consensus of $0.49.

Boeing (NYSE: BA) 4.3% HIGHER; has resumed production of the 737 MAX at the company’s Renton, Washington factory. The 737 program began building airplanes at a low rate as it implements more than a dozen initiatives focused on enhancing workplace safety and product quality.

Axcella Health Inc. (NASDAQ: AXLA) 3.9% HIGHER; Wedbush initiates coverage on with an Outperform rating and a price target of $28.00.

BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 3.9% LOWER; announced today that it is offering to sell $100 million of its common stock and, in lieu of common stock, to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock in an underwritten public offering. As part of this offering, BioCryst intends to grant the underwriters a 30-day option to purchase additional shares of common stock in an amount equal to up to 15% of the securities offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

SpartanNash (NASDAQ: SPTN) 2% HIGHER; reported Q1 EPS of $0.67, $0.20 better than the analyst estimate of $0.47. Revenue for the quarter came in at $2.86 billion versus the consensus estimate of $2.62 billion. SpartanNash sees FY2020 EPS of $1.85-$2.00, versus the consensus of $1.68.

Box (NYSE: BOX) 1.5% HIGHER; reported Q1 EPS of $0.10, $0.05 better than the analyst estimate of $0.05. Revenue for the quarter came in at $183.6 million versus the consensus estimate of $181.91 million.

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