Pre-Open 09/16: (ALDR) (SEMG) (MRO) Higher (NEWR) (AAL) (NUE) Lower (more...)

September 16, 2019 9:28 AM EDT
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Price: $18.88 --0%

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Today's Pre-Open Movers

Alder BioPharmaceuticals (NASDAQ: ALDR) 82.7% HIGHER; H. Lundbeck A/S and Alder BioPharmaceuticals (NASDAQ: ALDR) today announced a definitive agreement for Lundbeck to acquire Alder. Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Alder, whereby Alder stockholders will be offered an upfront payment for USD 18.00 per share in cash, along with one non-tradeable Contingent Value Right (CVR) that entitles them to an additional USD 2.00 per share upon approval of eptinezumab by the European Medicines Agency (EMA), representing a total potential consideration of USD 20.00 per share. The transaction is valued at up to USD 1.95 billion (approximately DKK 13 billion) net of cash, on a fully diluted basis.

SemGroup Corporation (NYSE: SEMG) 60.5% HIGHER; Energy Transfer LP (NYSE: ET) today announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion, based on the closing price of ET common units on September 13, 2019.

Chesapeake Energy (NYSE: CHK) 17.4% HIGHER; Oil & gas companies are seeing strong bids today following the weekend attack on Saudi Arabia's key oil facilities.

Marathon Oil (NYSE: MRO) 13.5% HIGHER; Oil & gas companies are seeing strong bids today following the weekend attack on Saudi Arabia's key oil facilities.

New Relic (NYSE: NEWR) 12.7% LOWER; announced management changes, affirmed the current quarters revenue guidance and updated full year fiscal 2020 revenue guidance to between $586.0 million and $593.0 million, representing year-over-year growth of between 22% and 24%. (*Consensus calls for FY revenue of $602.8 million)

Occidental Petroleum (NYSE: OXY) 10% HIGHER; Oil & gas companies are seeing strong bids today following the weekend attack on Saudi Arabia's key oil facilities.

Apache Corp. (NYSE: APA) 10% HIGHER; Oil & gas companies are seeing strong bids today following the weekend attack on Saudi Arabia's key oil facilities.

EOG Resources (NYSE: EOG) 8.5% HIGHER; Oil & gas companies are seeing strong bids today following the weekend attack on Saudi Arabia's key oil facilities.

American Airlines (NYSE: AAL) 4.5% LOWER; airlines lower on rise in crude prices following attack on Saudi Arabia's key oil facilities.

Aurora Cannabis Inc. (NYSE: ACB) 3.9% LOWER; Stifel downgraded from Hold to Sell with a price target of Cdn$5.00 (from Cdn$7.00).

Delta Air Lines, Inc. (NYSE: DAL) 3.5% LOWER; airlines lower on rise in crude prices following attack on Saudi Arabia's key oil facilities.

United Airlines (NYSE: UAL) 3.3% HIGHER; airlines lower on rise in crude prices following attack on Saudi Arabia's key oil facilities.

General Motors (NYSE: GM) 2.6% LOWER; UAW goes on strike

Nucor Corporation (NYSE: NUE) 2.4% LOWER; today announced guidance for its third quarter ending September 28, 2019. Nucor expects third quarter earnings to be in the range of $0.75 to $0.80 per diluted share. This range is a decrease compared to second quarter of 2019 earnings of $1.26 per diluted share and a decrease relative to third quarter of 2018 earnings of $2.13 per diluted share. (Consensus sees Q3 EPS of $1.06)

Cars.com (NYSE: CARS) 2% HIGHER; Craig-Hallum upgraded from Hold to Buy with a price target of $15.00.

HP, Inc. (NYSE: HPQ) 1.1% LOWER; UBS downgraded from Buy to Neutral with a price target of $20.00 (from $26.00).



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