Pre-Open Movers 07/17: (APDN) (OCN) (HMHC) Higher; (NIO) (NFLX) (ROKU) Lower (more...)

July 17, 2020 9:29 AM EDT

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Today's Pre-Open Stock Movers

Verona Pharma plc (Nasdaq: VRNA) 87.3% HIGHER; raised approximately $200 million (£159 million*) in an oversubscribed private placement and subscription with new and existing institutional and accredited investors (the Financing). The Financing comprises a private placement of 39,090,009 of the Companys American Depositary Shares (ADSs), each representing eight ordinary shares of the Company (Ordinary Shares), at a price of $4.50 per ADS, and 43,111,112 of the Companys Ordinary Shares at the equivalent price per Ordinary Share, being £0.45 or $0.5625 (together the Securities).

Applied DNA Sciences (NASDAQ: APDN) 48.3% HIGHER; announced that linear-DNA forms of COVID-19 vaccine candidates under development by partner Takis Biotech and manufactured by the Company yielded strong antibody and T-cell responses even at very low doses of linear DNA, raising the potential of effective dosing empowering global utility.

Ocwen Financial Corporation (NYSE: OCN) 46.6% HIGHER; provided preliminary information regarding its second quarter 2020 results and progress on the Companys key business priorities. A presentation with additional detail regarding todays announcement is available on the Ocwen Financial Corporation website at www.ocwen.com (through a link on the Shareholder Relations page). The Company reported a net income of $2.0 million and a pre-tax loss of $6.2 million for the three months ended June 30, 2020, compared to a net loss of $89.7 million and a pre-tax loss of $84.3 million for the three months ended June 30, 2019. Adjusted pre-tax income was $18 million for the quarter compared to a $27 million adjusted pre-tax loss in the prior year period (see Note Regarding Non-GAAP Financial Measures below).

Houghton Mifflin Harcourt (NASDAQ: HMHC) 17.5% HIGHER; On Wednesday, July 16, several false rumors were posted on Twitter after market trading hours about Houghton Mifflin Harcourt (NASDAQ: HMHC) signing new sales contracts both domestically and internationally. These rumors are factually incorrect. For accurate and updated information, please visit ir.hmhco.com.

Nabriva Therapeutics plc (NASDAQ: NBRV) 13% HIGHER; announced today that its partner, Sunovion Pharmaceuticals Canada Inc., has received approval from Health Canada to market oral and intravenous (IV) formulations of XENLETA® (lefamulin) for the treatment of community-acquired pneumonia (CAP) in adults.

Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) 11.7% HIGHER; reported comparable restaurant sales for the 13-week second quarter 2020, which ended on June 28, 2020, and for the subsequent two-week period, which ended on July 12, 2020. The Company also provided a liquidity update and announced the completion of an amendment to its revolving credit facility.

PhaseBio Pharmaceuticals, Inc. (NASDAQ: PHAS) 10.6% HIGHER; announced that it has dosed the first patient in VANGARD, a potentially pivotal Phase 2 clinical trial to evaluate PB1046 as a treatment for hospitalized COVID-19 patients who are at high risk for rapid clinical deterioration and acute respiratory distress syndrome (ARDS). PB1046 is a novel, once-weekly, subcutaneously-injected VIP receptor agonist that targets VPAC receptors in the cardiovascular, pulmonary and immune systems. VIP is a neurohormone known to have anti-inflammatory, antifibrotic and potent bronchodilatory and immunomodulatory effects in the respiratory system. Specifically, VIP has been shown to regulate proinflammatory cytokines including TNF-, IFN-, IL-12, IL-17A and IL-6. In animal models, treatment with VIP peptide prevented acute lung injury and inhibited cytokine-mediated inflammatory responses that are characteristic of ARDS.

NIO (NYSE: NIO) 6.7% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $7.00.

Netflix (NASDAQ: NFLX) 6.5% LOWER; reported Q2 EPS of $1.56, $0.25 worse than the analyst estimate of $1.81. Revenue for the quarter came in at $6.15 billion versus the consensus estimate of $6.08 billion. Global Streaming Subscriber Additions was 10.09 million versus the company’s guidance of 7.5 million. The company sees Global Streaming Subscriber Additions of 2.5 million in Q3, which is below the consensus of ~5 million. The company sees Q3 EPS of $2.09 and revenue of $6.33 billion, versus the consensus of $2.00 and $6.39 billion. Further, Ted Sarandos has been appointed co-CEO and elected to the Board of Directors.

MeiraGTx Holdings plc (NASDAQ: MGTX) 6.1% HIGHER; today announced six-month data from the ongoing Phase 1/2 clinical trial (NCT03252847) of AAV-RPGR, an investigational gene therapy in development for the treatment of patients with X-linked retinitis pigmentosa (XLRP) with genetically confirmed variants in the RPGR gene. Significant improvement in vision was demonstrated in the dose escalation phase of the trial and AAV-RPGR was found to be generally well tolerated. These initial results from the trial are being presented as a late-breaker oral presentation at the American Society of Retina Specialists (ASRS) 2020 Virtual Annual Meeting.

Kingsoft Cloud (NASDAQ: KC) 5% HIGHER; Credit Suisse initiates coverage with an Outperform rating and a price target of $50.30.

PPG Industries (NYSE: PPG) 4.1% HIGHER; reported Q2 EPS of $0.42, may not compare the analyst estimate of $0.71. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.78 billion.

Puma Biotechnology, Inc. (NASDAQ: PBYI) 3.9% HIGHER; announced that its licensing partner Specialised Therapeutics Asia (STA) received marketing approval of NERLYNX® (neratinib) in Malaysia from the Drug Control Agency (DCA), under Malaysia’s Ministry of Health (MOH). NERLYNX is indicated for the extended adjuvant treatment of adult patients with early stage hormone receptor positive HER2-overexpressed/amplified breast cancer and who are less than one year from completion of prior adjuvant trastuzumab-based therapy.

JB Hunt Transport Services (NASDAQ: JBHT) 3.3% HIGHER; reported Q2 EPS of $1.14, $0.31 better than the analyst estimate of $0.83. Revenue for the quarter came in at $2.15 billion versus the consensus estimate of $2.01 billion.

Roku, Inc. (NASDAQ: ROKU) 2.8% LOWER; falls on Netflix's results

Marten Transport (NASDAQ: MRTN) 2.7% HIGHER; reported Q2 EPS of $0.33, $0.10 better than the analyst estimate of $0.23. Revenue for the quarter came in at $212.4 million versus the consensus estimate of $205.37 million.

Cloudflare Inc. (NYSE: NET) 2.2% HIGHER; William Blair initiates coverage with an Outperform rating.

Ally Financial (NYSE: ALLY) 2.2% HIGHER; reported Q2 EPS of $0.61, $0.43 better than the analyst estimate of $0.18. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.5 billion.

Tesla, Inc. (NASDAQ: TSLA) 1.4% LOWER; pt to $1,400 at Credit Suisse



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