Pre-Open 10/24: (TSLA) (AYR) (PYPL) Higher (ACOR) (TWTR) (TXMD) Lower (more...)

October 24, 2019 9:20 AM EDT

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Today's Pre-Open Movers

Acorda Therapeutics, Inc. (NASDAQ: ACOR) 18.7% LOWER; JPMorgan downgraded from Neutral to Underweight.

Tesla (NASDAQ: TSLA) 18.2% HIGHER; reported Q3 EPS of $1.86, $2.28 better than the analyst estimate of ($0.42). Revenue for the quarter came in at $6.3 billion versus the consensus estimate of $6.33 billion.

Twitter (NYSE: TWTR) 17.1% LOWER; reported Q3 EPS of $0.17, $0.03 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $824 million versus the consensus estimate of $873.91 million. Twitter sees Q4 2019 revenue of $940-1010 million vs $1060 million expected.

TherapeuticsMD, Inc. (NASDAQ: TXMD) 16% LOWER; announced the launch of an underwritten public offering of 22,000,000 shares of its common stock. TherapeuticsMD also expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 3,300,000 shares of common stock at the public offering price, less the underwriting discount. All of the shares in the offering are to be sold by TherapeuticsMD. The offering is subject to market conditions and 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.

Pacific Biosciences of California (Nasdaq: PACB) 13.9% LOWER; The Competition and Markets Authority (CMA) has issued its provisional findings as part of a Phase 2 merger investigation of the proposed $1.2 billion takeover by Illumina, Inc. (Illumina) (Nasdaq: ILMN) of Pacific Biosciences of California, Inc (PacBio) (Nasdaq: PACB)

Netgear, Inc. (NASDAQ: NTGR) 11.8% LOWER; reported Q3 EPS of $0.65, $0.05 better than the analyst estimate of $0.60. Revenue for the quarter came in at $265.9 million versus the consensus estimate of $272.22 million. Netgear, Inc. sees Q4 2019 revenue of $240-255 million, versus the consensus of $296.39 million.

Aircastle Limited (NYSE: AYR) 9.1% HIGHER; announced today that its Board of Directors is evaluating strategic alternatives, which may include a sale of the Company. Aircastle has received preliminary non-binding expressions of interest from multiple third parties regarding a potential transaction involving the Company and is engaged in preliminary discussions relating thereto. There can be no assurance that this process will result in a transaction or, if a transaction is undertaken, its terms or timing. The Company has retained Citigroup Global Markets Inc. as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal advisor to assist in this ongoing review. The Company does not intend to disclose developments or provide updates on the progress or status of this process unless it deems further disclosure is appropriate or required by law.

MKS Instruments (NASDAQ: MKSI) 9% HIGHER; reported Q3 EPS of $1.12, $0.25 better than the analyst estimate of $0.87. Revenue for the quarter came in at $462.5 million versus the consensus estimate of $442.9 million. MKS Instruments sees Q4 2019 EPS of $0.85-$1.19, versus the consensus of $1.02. MKS Instruments sees Q4 2019 revenue of $445-495 million, versus the consensus of $461.94 million.

Align Technology (NASDAQ: ALGN) 9% HIGHER; reported Q3 EPS of $1.28, $0.14 better than the analyst estimate of $1.14. Revenue for the quarter came in at $607.3 billion versus the consensus estimate of $593.97 billion. Align Technology sees Q4 2019 EPS of $1.35-$1.42, versus the consensus of $1.35. Align Technology sees Q4 2019 revenue of $640-650 billion, versus the consensus of $639.2 billion.

PayPal (NASDAQ: PYPL) 8.6% HIGHER; reported Q3 EPS of $0.61, $0.09 better than the analyst estimate of $0.52. Revenue for the quarter came in at $4.38 billion versus the consensus estimate of $4.35 billion. PayPal sees Q4 2019 EPS of $0.81-$0.83, versus the consensus of $0.81. PayPal sees Q4 2019 revenue of $4.89-4.95 billion, versus the consensus of $4.94 billion. PayPal sees FY2019 EPS of $3.06-$3.08, versus the consensus of $2.96. PayPal sees FY2019 revenue of $17.7-17.76 billion, versus the consensus of $17.72 billion.

MagnaChip (NYSE: MX) 8.4% HIGHER; reported Q3 EPS of $0.61, $0.33 better than the analyst estimate of $0.28. Revenue for the quarter came in at $229.7 million versus the consensus estimate of $225 million. MagnaChip sees Q4 2019 revenue of $181-191 million, versus the consensus of $183.75 million.

ServiceNow (NYSE: NOW) 7.5% HIGHER; reported Q3 EPS of $0.99, $0.11 better than the analyst estimate of $0.88. Revenue for the quarter came in at $885.8 million versus the consensus estimate of $884.96 million. ServiceNow sees FY2019 revenue of $3.817-3.822 billion, versus the consensus of $3.46 billion. ServiceNow sees Q4 2019 revenue of $1.27-1.275 billion, versus the consensus of $942.9 million.

Baxter (NYSE: BAX) 6.5% LOWER; reported Q3 revenue for the quarter came in at $2.85 billion versus the consensus estimate of $2.86 billion.

F5 Networks (NASDAQ: FFIV) 6.4% HIGHER; reported Q4 EPS of $2.59, $0.04 better than the analyst estimate of $2.55. Revenue for the quarter came in at $590.4 million versus the consensus estimate of $582.39 million. F5 Networks sees Q1 2020 EPS of $2.41-$2.44, versus the consensus of $2.47. F5 Networks sees Q1 2020 revenue of $560-570 million, versus the consensus of $566.74 million.

Spirit Airlines (NYSE: SAVE) 5.9% HIGHER; reported Q3 EPS of $1.32, $0.09 better than the analyst estimate of $1.23. Revenue for the quarter came in at $992 million versus the consensus estimate of $986.9 million.

TechnipFMC (NYSE: FTI) 5.6% LOWER; reported Q3 EPS of $0.12, $0.38 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $3.34 billion versus the consensus estimate of $3.52 billion.

Lam Research (NASDAQ: LRCX) 5.4% HIGHER; reported Q1 EPS of $3.18, $0.17 better than the analyst estimate of $3.01. Revenue for the quarter came in at $2.17 billion versus the consensus estimate of $2.16 billion. Lam Research sees Q2 2020 EPS of $3.80 at midpoint, versus the consensus of $3.15. Lam Research sees Q4 2020 revenue of $2.5 billion at mid-point, versus the consensus of $2.18 billion.

eBay (NASDAQ: EBAY) 4.6% LOWER; reported Q3 EPS of $0.67, $0.03 better than the analyst estimate of $0.64. Revenue for the quarter came in at $2.65 billion versus the consensus estimate of $2.64 billion. eBay sees FY2019 EPS of $2.75-$2.78, versus the consensus of $2.75. eBay sees FY2019 revenue of $10.75-10.8 billion, versus the consensus of $10.82 billion. eBay sees Q4 2019 EPS of $0.73-$0.76, versus the consensus of $0.76. eBay sees Q4 2019 revenue of $2.77-2.82 billion, versus the consensus of $2.85 billion.

Applied Materials (NASDAQ: AMAT) 4.6% HIGHER; Craig-Hallum upgraded from Hold to Buy.

O'Reilly Automotive (NASDAQ: ORLY) 4.4% HIGHER; reported Q3 EPS of $5.08, $0.29 better than the analyst estimate of $4.79. Revenue for the quarter came in at $2.67 billion versus the consensus estimate of $2.64 billion.

Edwards Lifesciences (NYSE: EW) 3.9% HIGHER; reported Q3 EPS of $1.41, $0.19 better than the analyst estimate of $1.22. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.04 billion. Edwards Lifesciences sees FY2019 EPS of $5.50-$5.65, versus the consensus of $5.34. Edwards Lifesciences sees FY2019 revenue of $4-4.3 billion, versus the consensus of $4.23 billion.

Axalta Coating Systems (NYSE: AXTA) 3.4% HIGHER; reported Q3 EPS of $0.52, $0.08 better than the analyst estimate of $0.44. Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.13 billion. Axalta Coating Systems sees FY2019 EPS of $1.70-$1.90, versus the consensus of $1.77.

Kraton Corporation (NYSE: KRA) 3% LOWER; reported Q3 EPS of $0.52, $0.12 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $444.2 million versus the consensus estimate of $482.69 million.

Ford Motor (NYSE: F) 2.6% LOWER; reported Q3 EPS of $0.34, $0.08 better than the analyst estimate of $0.26. Revenue for the quarter came in at $33.9 billion versus the consensus estimate of $33.98 billion. Ford Motor sees FY2019 EPS of $1.20-$1.32, versus the consensus of $1.26.



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