Pre-Open Movers 09/21: (DTEA) (SCS) (NVAX) Higher; (GTXI) (PIR) (TLRY) Lower (more...)

September 21, 2018 9:24 AM EDT
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Today's Pre-Open Movers

GTx, Inc. (Nasdaq: GTXI) 90% LOWER; today announced that the ASTRID Trial, a Phase 2 double-blind, placebo-controlled clinical trial of orally-administered enobosarm (3 mg or 1 mg) in post-menopausal women with stress urinary incontinence (SUI), did not achieve statistical significance on the primary endpoint of the proportion of patients with a greater than 50% reduction in incontinence episodes per day compared to placebo. The percentage of patients with a greater than 50% reduction after 12 weeks of enobosarm treatment was 58.9% for 3mg, 57.7% for 1mg and 52.7% for placebo. Enobosarm was generally safe and well tolerated. Reported adverse events were minimal and similar across all treatment groups.

DAVIDsTEA Inc. (NASDAQ: DTEA) 46.3% HIGHER; Momentum appears to be tied speculation the company could do something cannabis related.

Pier 1 Imports, Inc. (NYSE: PIR) 16.6% LOWER; announced preliminary financial results for the second quarter of fiscal 2019 ended September 1, 2018. On a preliminary basis, based on the information currently available, the Company expects: Company comparable sales to decrease approximately 11.4% compared to the second quarter of fiscal 2018;
Fiscal 2019 second quarter loss per share in the range of $0.62 to $0.64; (**Street sees Q2 loss per share of $0.55)

Steelcase (NYSE: SCS) 14.4% HIGHER; reported Q2 EPS of $0.41, $0.12 better than the analyst estimate of $0.29. Revenue for the quarter came in at $875.8 million versus the consensus estimate of $873.7 million. Steelcase sees Q3 2019 EPS of $0.28-$0.33, versus the consensus of $0.25. Steelcase sees Q3 2019 revenue of $885-915 million, versus the consensus of $843 million. Steelcase sees FY2019 EPS of $1.10-$1.15, versus the consensus of $0.92.

Tilray, Inc. (NASDAQ: TLRY) 13.8% LOWER; continues to consolidate from surge higher on cannabis mania

Novavax (NASDAQ: NVAX) 12.2% HIGHER; JPMorgan upgraded Novavax from Underweight to Overweight

United Natural Foods (NASDAQ: UNFI) 10.8% LOWER; reported Q4 EPS of $0.76, $0.09 worse than the analyst estimate of $0.85. Revenue for the quarter came in at $2.59 billion versus the consensus estimate of $2.61 billion. United Natural Foods sees FY2019 EPS of $3.48-$3.58, versus the consensus of $3.54. United Natural Foods sees FY2019 revenue of $11.1-11.3 billion, versus the consensus of $11.03 billion.

ADT Inc. (NYSE: ADT) 6.6% HIGHER; adds to intra-day gains after the company announced a new strategic initiative with Amazon mid-day.

Ladenburg Thalmann Financial Services Inc. (NYSE: LTS) 6.3% HIGHER; announced today that its Board of Directors has appointed Richard Lampen, Ladenburg’s President and Chief Executive Officer, to serve as Chairman of the Board, replacing Dr. Phillip Frost. Adam Malamed, Ladenburg’s Executive Vice President and Chief Operating Officer, will join the Board of Directors.

Resonant Inc. (NASDAQ: RESN) 6.2% LOWER; announced its chief financial officer, Michael Seifert, has resigned and will be replaced by Resonant’s former chief financial officer and current company consultant, Jeff Killian. Killian has been appointed as the company’s interim chief financial officer. Resonant has initiated a search for Seifert’s successor and Killian will serve until a successor is in place.

Nlight (NASDAQ: LASR) 5.8% HIGHER; Raymond James upgraded from Outperform to Strong Buy.

New Age Beverages (NASDAQ: NBEV) 5.4% HIGHER; has been surging on cannabis play. Shares were downgraded from Buy to Hold at Maxim today.

CRISPR Therapeutics (NASDAQ: CRSP) 4% LOWER; Raymond James initiates coverage with a Underperform rating.

Western Asset Mortgage Capital Corporation (NYSE: WMC) 3.6% LOWER; commenced a public offering of 6,500,000 shares of the Company's common stock. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock.

Micron Technology (NASDAQ: MU) 3.5% LOWER; reported Q4 EPS of $3.53, $0.19 better than the analyst estimate of $3.34. Revenue for the quarter came in at $8.44 billion versus the consensus estimate of $8.25 billion. Micron sees Q1 EPS of $2.95 at Mid-Point vs Consensus of $3.06. Micron sees Q1 revenue of $7.9-$8.3 billion vs $8.44 billion consensus.

California Resources (NYSE: CRC) 2.9% HIGHER; Evercore ISI initiates coverage with a Outperform rating and a price target of $55.00.

ACADIA Pharmaceuticals (NASDAQ: ACAD) 1.5% HIGHER; adds to intra-day gains after the company announced that the FDA has completed a postmarketing review and issued a clear statement reaffirming the positive benefit-risk profile of NUPLAZID (pimavanserin) for patients with Parkinsons disease psychosis.

Texas Instruments (NASDAQ: TXN) 1.2% HIGHER; declared a quarterly dividend of $0.77 per share, or $3.08 annualized. This is a 24.2% increase from the prior dividend of $0.62. The dividend will be payable on November 19, 2018, to stockholders of record on October 31, 2018, with an ex-dividend date of October 30, 2018. The annual yield on the dividend is 2.8 percent. The board of directors also authorized the company to repurchase an additional $12 billion of its common stock over time. This is in addition to approximately $7.4 billion of previously authorized repurchases that remained at the end of June 2018.



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