Pre-Open Movers 07/20: (SRNE) (BNTX) (NBL) Higher; (NKLA) (MRNA) Lower (more...)

July 20, 2020 9:33 AM EDT

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Today's Pre-Open Stock Movers:

Denbury Resources' (NYSE: DNR) 46.7% HIGHER; CEO said the company didn't issue a press release about a buyout offer, according to Bloomberg, citing a telephone interview. The earlier press release "looks fraudulent."

Nikola (NASDAQ: NKLA) 19% LOWER; disclosed: This prospectus relates to the issuance by us of up to an aggregate of up to 23,890,000 shares of our common stock, $0.0001 par value per share ("Common Stock"), which consists of (i) up to 890,000 shares of Common Stock that are issuable upon the exercise of 890,000 warrants (the "Private Warrants") originally issued in a private placement in connection with the initial public offering of VectoIQ and (ii) up to 23,000,000 shares of Common Stock that are issuable upon the exercise of 23,000,000 warrants (the "Public Warrants" and, together with the Private Warrants, the "Warrants") originally issued in the initial public offering of VectoIQ. We will receive the proceeds from any exercise of any Warrants for cash.

Sorrento Therapeutics, Inc. (Nasdaq: SRNE) 18.1% HIGHER; received clearance from the FDA to initiate a Phase 2 trial of Abivertinib in patients with COVID-19 who have moderate to severe pulmonary symptoms.

BioNTech SE (Nasdaq: BNTX) 10.9% HIGHER; BioNTech SE (Nasdaq: BNTX) and Pfizer Inc. (NYSE: PFE) today announced initial data from their ongoing German Phase 1/2, open-label, non-randomized, non-placebo-controlled, dose-escalation trial, that is part of the global mRNA-based vaccine program against SARS-CoV-2. The data are available on an online preprint server at medRxiv and are concurrently undergoing scientific peer-review for potential publication.

Noble Energy, Inc. (NASDAQ: NBL) 10.8% HIGHER; Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevrons closing price on July 17, 2020 and under the terms of the agreement, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. The total enterprise value, including debt, of the transaction is $13 billion.

Immunic Inc. (NASDAQ: IMUX) 10% HIGHER; BMO Capital initiates coverage with an Outperform rating and a price target of $40.00.

Moderna (NASDAQ: MRNA) 7.6% LOWER; JPMorgan downgraded from Overweight to Neutral with a price target of $89.00 (from $60.00), citing valuation. Also, BNTX/PFE vaccine news.

Dropbox (NASDAQ: DBX) 5% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $28.00 (from $22.00).

Halliburton (NYSE: HAL) 3.9% HIGHER; reported Q2 EPS of $0.05, $0.16 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.31 billion.

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