Pre-Open 11/18: (KRTX) (EROS) (COTY) Higher; (SPWR) (UCTT) (XRX) Lower (more...)

Pre-Open Stock Movers

Karuna Therapeutics, Inc. (NASDAQ: KRTX) 78.8% HIGHER; announced results from its Phase 2 clinical trial of KarXT for the treatment of acute psychosis in patients with schizophrenia. In the clinical trial, KarXT demonstrated a statistically significant and clinically meaningful 11.6 point mean reduction in total Positive and Negative Syndrome Scale (PANSS) score compared to placebo (p<0.0001) and also demonstrated good overall tolerability. A statistically significant reduction in the secondary endpoints of PANSS-Positive and PANSS-Negative scores were also observed (p<0.001).

Eros International Plc (NYSE: EROS) 25.8% HIGHER; Eros Now, a premier South Asian OTT entertainment platform with more than 177 million registered users owned by Eros International Plc (NYSE: EROS), today announced a collaboration with YouTube Music in India. As part of the collaboration, a special Eros Now subscription package priced at 99 Indian Rupees (INR) for 90 days will be made available to all new subscribers of YouTube Music premium and Google Play Music in India. At the end of the three month introductory offer, the customer will be charged separately as per prevailing plans for Eros Now and INR 99 per month for YouTube Music Premium.

Molecular Templates, Inc. (Nasdaq: MTEM) 13% HIGHER; Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and Molecular Templates, Inc. (Nasdaq: MTEM) today announced that the two companies have entered into a strategic research collaboration to discover and develop novel targeted conditioning regimens that may enhance the hematopoietic stem cell transplant process, including transplants conducted as part of treatment with ex vivo CRISPR/Cas9 gene editing therapies such as CTX001. CTX001 is currently being evaluated in two ongoing Phase 1/2 studies in patients with transfusion-dependent beta thalassemia and severe sickle cell disease, where a hematopoietic stem cell transplant is required as part of treatment with CTX001. The collaboration will seek to discover a new conditioning regimen utilizing MTEMs engineered toxin body (ETB) platform, which is designed to specifically target and remove specific cells to enable successful engraftment of new cells.

Coty Inc. (NYSE: COTY) 5% HIGHER; Coty and Kylie Jenner announced today that they have entered into a long-term strategic partnership in order to jointly build and further develop Kylies existing beauty business into a global powerhouse brand. Together, Coty and Kylie will set and lead the strategic direction of the partnership, focusing on global expansion and entry into new beauty categories. Kylie and her team will continue to lead all creative efforts in terms of product and communications initiatives, building on her unrivalled global reach capabilities through social media.

SunPower Corporation (NASDAQ: SPWR) 4.6% LOWER; announced that it is offering to sell, subject to market and other conditions, 22 million shares of its common stock through an underwritten public offering. SunPower also intends to grant the underwriters an option, exercisable for 30 days after the date of the final prospectus supplement, to purchase up to an additional 3.3 million shares of its common stock on the same terms and conditions.

Lumber Liquidators (NYSE: LL) 3.6% HIGHER; disclosed that on November 7, 2019, the United States Trade Representative (“USTR”) ruled on a request made by certain interested parties, including Lumber Liquidators Holdings, Inc, and retroactively excluded certain flooring products imported from China from the Section 301 tariffs implemented at 10 percent beginning in September 2018 and escalating to 25 percent in June 2019. Under this ruling, we believe flooring products now excluded from the 25 percent Chinese tariffs include specific vinyl and engineered products the Company has sold and continues to sell. The granted exclusion applies retroactively from the date the tariffs were originally implemented on September 24, 2018 through August 7, 2020.

Splunk (NASDAQ: SPLK) 2.8% HIGHER; Morgan Stanley analyst Keith Weiss upgraded from Equalweight to Overweight with a price target of $169.00 (from $140.00).

Ultra Clean (NASDAQ: UCTT) 2.8% LOWER; Stife downgraded from Buy to Hold with a price target of $21.00.

QIAGEN N.V. (NYSE: QGEN) 2.7% HIGHER; continues higher after the company announced it has begun a review of potential strategic alternatives after receiving several conditional, non-binding indications of interest for the acquisition of all issued and outstanding shares of the Company.

Xerox (NYSE: XRX) 1.8% LOWER; HP Inc. (NYSE: HPQ) today announced that its Board of Directors has unanimously rejected the unsolicited proposal from Xerox Holdings Corporation (NYSE: XRX) to acquire the Company.

T-Mobile US, Inc. (NASDAQ: TMUS) 1.8% LOWER; announced that its Board of Directors has named Mike Sievert as Chief Executive Officer, effective May 1, 2020. Currently President, Chief Operating Officer and a Board Director, Sievert will assume the CEO role from John Legere after the conclusion of Legeres contract on April 30, 2020. Sieverts new title will be President and CEO. Legere will remain a member of the Board.

HP Inc. (NYSE: HPQ) 1% LOWER; today announced that its Board of Directors has unanimously rejected the unsolicited proposal from Xerox Holdings Corporation (NYSE: XRX) to acquire the Company.

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