Pre-Open Movers 01/11: (SECO) (NBEV) (MGI) Higher; (LPCN) (HMNY) (APPN) Lower (more...)

January 11, 2018 9:19 AM EST

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Today's Pre-Open Movers

Lipocine Inc. (NASDAQ: LPCN) 53.8% LOWER; announced that the Bone, Reproductive and Urologic Drugs Advisory Committee ("BRUDAC") of the U.S. Food and Drug Administration ("FDA") voted six in favor and thirteen against the benefit/risk profile of TLANDO, the Company's oral testosterone product candidate for testosterone replacement therapy ("TRT") in adult males for conditions associated with a deficiency of endogenous testosterone, also known as hypogonadism. The role of BRUDAC is to provide recommendations to the FDA. The FDA decision on whether or not to approve the TLANDO New Drug Application ("NDA") is anticipated by the assigned Prescription Drug User Fee Act ("PDUFA") goal date of May 8, 2018.

Secoo Holding (NASDAQ: SECO) 44.5% HIGHER; announces blockchain initiative, according to reports.

New Age Beverages Corporation (NASDAQ: NBEV) 21.3% HIGHER; commenced shipment of its XingTea portfolio of ready-to-drink teas to CVS Health nationally starting with an initial rollout to 3,000 pharmacy channel outlets throughout the United States.

Richardson Electronics (NASDAQ: RELL) 16.6% HIGHER; reported Q2 EPS of $0.01, versus ($0.18) reported last year. Revenue for the quarter came in at $39.1 million, versus $33.8 million reported last year.

MoneyGram (NASDAQ: MGI) 15.3% HIGHER; Ripple, provider of the leading enterprise blockchain solution for payments, has partnered with MoneyGram (NASDAQ: MGI), one of the world's largest money transfer companies, to pilot XRP in their payment flows. As part of this agreement, both companies will also explore MoneyGram's integration into Ripple's ecosystem through xVia.

FuelCell Energy (NASDAQ: FCEL) 13.5% HIGHER; reported Q4 EPS of ($0.17), $0.03 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $47.9 million versus the consensus estimate of $25.73 million.

Helios and Matheson Analytics Inc. (Nasdaq: HMNY) 13.3% LOWER; entered into a securities purchase agreement with an institutional investor for HMNY to issue convertible notes in the aggregate principal amount of $60 million (the Notes). The net proceeds from the issuance of the Notes will be used for general corporate purposes. HMNY is not obligated to register the resale of any shares underlying the Notes with the Securities and Exchange Commission. Absent registration, the investor may resell the shares underlying the Notes only pursuant to Rule 144 or another available exemption from registration.

Aradigm (NASDAQ: ARDM) 12.2% HIGHER; gains ahead of FDA panel meeting today

Progress Software (NASDAQ: PRGS) 7.6% HIGHER; reported Q4 EPS of $0.67, $0.06 better than the analyst estimate of $0.61. Revenue for the quarter came in at $116.1 million versus the consensus estimate of $114.34 million. Progress Software sees Q1 2018 EPS of $0.46-$0.48, versus the consensus of $0.38. Progress Software sees FY2018 EPS of $2.29-$2.35, versus the consensus of $1.88. Progress Software sees FY2018 revenue of $399-404 million, versus the consensus of $395 million.

Xerox Corp. (NYSE: XRX) 6.5% HIGHER; reports overnight from the WSJ that the company is in talks with Japanese camera maker Fujifilm Holdings in a deal that could include a change in control.

Medallion Financial (NASDAQ: MFIN) 5.4% HIGHER; adds to 20% intra-day upside.

DST Systems, Inc. (NYSE: DST) 5% HIGHER; SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) and DST Systems, Inc. (NYSE: DST) today announced that the companies have entered into a definitive agreement wherein SS&C will acquire DST. Under the terms of the agreement, SS&C will purchase DST in an all-cash transaction for $84 per share plus assumption of debt, equating to an enterprise value of approximately $5.4 billion.

Appian Corp. (NASDAQ: APPN) 4.5% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $24.00 (from $19.00).

KB Home (NYSE: KBH) 3.8% HIGHER; reported Q4 EPS of $0.84, $0.07 better than the analyst estimate of $0.77. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.36 billion.

Endo International plc (NASDAQ: ENDP) 3.3% LOWER; announced that its subsidiary, Endo Pharmaceuticals Inc. ("EPI"), has received a grand jury subpoena from the United States Attorney's Office for the Southern District of Florida seeking documents and information relating to products containing oxymorphone.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) 3.2% HIGHER; SS&C Technologies and DST Systems, Inc. (NYSE: DST) today announced that the companies have entered into a definitive agreement wherein SS&C will acquire DST. Under the terms of the agreement, SS&C will purchase DST in an all-cash transaction for $84 per share plus assumption of debt, equating to an enterprise value of approximately $5.4 billion.

Sears Holdings (NASDAQ: SHLD) 2.4% LOWER; Susquehanna lowered its price target to $2.50 (from $3.00) while maintaining a Negative rating. Analyst Bill Dreher issued a dark outlook for the company noting it would be "incredibly unlikely

Restoration Hardware (NYSE: RH) 2.3% HIGHER; Loop Capital upgraded from Hold to Buy with a price target of $120.00 (from $101.00).

Expedia (NASDAQ: EXPE) 1.8% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $160.00 (from $170.00).

Zillow Group (NASDAQ: ZG) (NASDAQ: Z) 1.6% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $50.00 (from $38.00).



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