Pre-Open Movers 04/03: (ECOR) (FATE) (TSLA) Higher; (MIC) (IMMU) (MMM) Lower (more...)

April 3, 2020 9:19 AM EDT

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Today's Pre-Open Stock Movers

electroCore, Inc. (Nasdaq: ECOR) 80% HIGHER; announced that the company has submitted an Emergency Use Authorization (EUA) application to the U.S. Food and Drug Administration (FDA) to facilitate the study and clinical use of its gammaCore SapphireTM non-invasive vagus nerve stimulation therapy, or nVNS, for respiratory symptoms associated with COVID-19.

Fate Therapeutics, Inc. (NASDAQ: FATE) 24% HIGHER; announced today a global collaboration and option agreement with Janssen Biotech, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson.

Macquarie Infrastructure (NYSE: MIC) 19.8% LOWER; announced that, in response to the impact of COVID-19, the Company is withdrawing its guidance and suspending its quarterly cash dividend.

Tesla (Nasdaq: TSLA) 13.5% HIGHER; announced: In the first quarter, we produced almost 103,000 vehicles and delivered approximately 88,400 vehicles (*** consensus was 78,052). This was the company's best ever first-quarter performance. Model Y production started in January and deliveries began in March, significantly ahead of schedule. Additionally, our Shanghai factory continued to achieve record levels of production, despite significant setbacks.

Immunomedics (NASDAQ: IMMU) 11.7% LOWER; Goldman Sachs cuts PT to $5.00 (from $24.00) while downgrading to Sell (from Buy).

Dave & Buster's Entertainment (NASDAQ: PLAY) 7% HIGHER; reported Q4 EPS of $0.80, $0.11 better than the analyst estimate of $0.69. Revenue for the quarter came in at $347.2 million versus the consensus estimate of $344.46 million. Preserving Financial Flexibility: The Company has implemented steps focused on conserving existing capital and is working to maintain operating liquidity while preserving critical store restart capabilities.

Incyte (Nasdaq: INCY) 4% HIGHER; announced the Company is working with the U.S. Food and Drug Administration (FDA) to initiate a Phase 3 clinical trial (RUXCOVID) to evaluate the efficacy and safety of ruxolitinib (JakafiĀ®) plus standard-of-care (SoC), compared to SoC therapy alone, in patients with COVID-19 associated cytokine storm. The collaborative study will be sponsored by Incyte in the United States and Novartis outside of the United States.

StoneMor Inc (NYSE: STON) 3.9% HIGHER; reported Q1 EPS of ($1.23), versus ($0.54) reported last year. Revenue for the quarter came in at $66.4 million versus the consensus estimate of $85.58 million.

Lennar Corp. (NYSE: LEN) 3.8% HIGHER; provides outlook related to COVID-19

Chewy (NYSE: CHWY) 2.5% LOWER; reported Q4 EPS of ($0.15), $0.02 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.35 billion.

Bed Bath & Beyond (NASDAQ: BBBY) 2.3% HIGHER; to furlough majority of store associates

3M Co (NYSE: MMM) 1.6% LOWER; President Donald Trump slammed 3M in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks.

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