Pre-Open Movers 04/15: (INO) (DELL) (GBX) Higher; (NSPR) (MAXN) (PPD) Lower (more...)

April 15, 2021 9:31 AM EDT

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Today's Pre-Open Stock Movers:

INOVIO (NASDAQ: INO) 12.4% HIGHER; announced the results of a study focusing on the human immune responses induced by INOVIO's DNA vaccine candidate for COVID-19, INO-4800, against variants of concern. The results showed that INO-4800 induced a robust T cell response against all spike protein variants tested, which the company believes will be key in providing protection against SARS-CoV-2 variants, in addition to providing similar levels of neutralizing activity against both the UK and Brazilian variants as those against the original strain.

InspireMD, Inc. (NYSE: NSPR) 9.7% LOWER; announced a 1-for-15 reverse split of its common stock, effective as of April 26, 2021. Beginning on April 27, 2021, the Company's common stock will trade on the NYSE American on a split adjusted basis.

Dell Technologies (NYSE: DELL) 8.1% HIGHER; announces the planned spin-off of its 81% equity ownership interest in VMware (NYSE: VMW). The transaction will result in two standalone companies positioned for growth in the data era. The transaction is expected to close during the fourth quarter of calendar 2021, subject to certain conditions, including receipt of a favorable IRS private letter ruling and an opinion that the transaction will qualify as generally tax-free for Dell Technologies shareholders for U.S. federal income tax purposes.

Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) 7.8% LOWER; announced that it is offering to sell, subject to market and other conditions, $125,000,000 of ordinary shares through an underwritten public offering. Maxeon 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 $18,750,000 of ordinary shares offered in the public offering on the same terms and conditions.

PPD, Inc. (NASDAQ: PPD) 6.8% HIGHER; Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, and PPD, Inc. (Nasdaq: PPD), a leading global provider of clinical research services to the pharma and biotech industry, today announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. This represents a premium of approximately 24% to the unaffected closing price of PPD's common stock on the Nasdaq as of Tuesday, April 13, 2021, or 32% to the 60-day VWAP inclusive of that date.

American Eagle Outfitters (NYSE: AEO) 6.3% HIGHER; announced that business is exceeding expectations with first quarter revenue on track to over $1 billion, a mid-teens increase compared to pre-COVID 2019 first quarter reported revenue. Demand has accelerated across the American Eagle and Aerie brands, generating strong margins, higher full-priced selling and reduced promotions. For the period, management expects operating income of approximately $120 million, compared to first quarter 2019 operating income of $48 million and adjusted operating income of $49 million.

Coinbase (NASDAQ: COIN) 5% HIGHER; adds to yesterday's IPO debut gains. ARK takes a new stake.

The Greenbrier Companies, Inc. (NYSE: GBX) 3.8% LOWER; announced today that it intends to offer, subject to market and other conditions, $275.0 million aggregate principal amount of Convertible Senior Notes due 2028 (the "Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

Harrow Health, Inc. (NASDAQ: HROW)1.8% HIGHER; Sees total Q1 revenue between $14.9 million and $15.5 million.

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Definitive Agreement, IPO, Pre Market Movers, ARK