Pre-Open Movers 11/04: (WMGI) (EOLS) (TWOU) Higher; (AVEO) (CHFS) (UAA) Lower (more...)
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Today's Pre-Open Movers
AVEO Oncology (NASDAQ: AVEO) 37.4% LOWER; provided a regulatory update following a meeting with the U.S. Food and Drug Administration (FDA) to discuss results from the August 2019 overall survival (OS) analysis of the TIVO-3 trial and the Companys proposal to proceed with a New Drug Application (NDA) for tivozanib... In the FDA’s preliminary feedback, based on its assessment of the totality of evidence presented to date, the FDA recommended that the Company not submit an NDA at this time. The FDA stated that it remained concerned about the results of TIVO-3 in the context of the overall development of tivozanib. The FDA noted that the Company’s current interim OS results do not abrogate the FDA’s concerns over detriment and that those results may worsen with final analysis at 263 events, and that the median OS for tivozanib is worse than that of sorafenib.
Wright Medical Group N.V. (NASDAQ: WMGI) 30.7% HIGHER; Stryker (NYSE: SYK) announced today a definitive agreement to acquire all of the issued and outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ: WMGI) for $30.75 per share, or a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion (including convertible notes). Wright Medical, which was founded in 1950, is a global medical device company focused on extremities and biologics.
CHF Solutions, Inc. (NASDAQ: CHFS) 15.7% LOWER; announced the pricing of a registered direct offering of 1,219,076 shares of its common stock (or common equivalents) at a price to the public of $1.12 per share, for gross proceeds of approximately $1.36 million prior to deduction of commissions and offering expenses payable by CHF Solutions. In a concurrent private placement, the Company agreed to issue to the investors in the registered direct offering unregistered warrants to purchase up to 1,219,076 shares of the Company’s common stock.
Under Armour (NYSE: UA) (NYSE: UAA) 14.1% LOWER; reports over the weekend from the WSJ that the company is under investigation by U.S. federal law enforcement officials over whether it shifted sales from quarter to quarter to appear financially healthier.
Evolus (NASDAQ: EOLS) 7.5% HIGHER; reported Q3 EPS of ($0.98), $0.15 better than the analyst estimate of ($1.13). Revenue for the quarter came in at $13.2 million versus the consensus estimate of $4.05 million.
2u (NASDAQ: TWOU) 6% HIGHER; Sachem Head Capital has built a position in 2u (NASDAQ: TWOU) and plans to push it to explore strategic alternatives, including a sale, according to Bloomberg, citing people familiar with the matter. The hedge fund is now one of its largest shareholders but the exact size of the stake could not be learned.
Telephone & Data Systems (NYSE: TDS) 5% HIGHER; upgraded at Raymond James and JPMorgan
Marvell (NASDAQ: MRVL) 4.3% HIGHER; Wells Fargo upgraded from Market Perform to Outperform, PT $32.00 (from $25.00)
Ferrari (NYSE: RACE) 3.5% HIGHER; Reports Q3 EPS of EUR0.90; Raises FY19 EPS/Revenue Guidance
World Wrestling Entertainment (NYSE: WWE) 3.5% LOWER; related to Saudi Arabia flight problems and backlash from WWE wrestlers.
Stryker (NYSE: SYK) 3.5% LOWER; Stryker announced today a definitive agreement to acquire all of the issued and outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ: WMGI) for $30.75 per share, or a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion (including convertible notes). Wright Medical, which was founded in 1950, is a global medical device company focused on extremities and biologics.
Halozyme Therapeutics, Inc. (NASDAQ: HALO) 3.2% LOWER; announced that the HALO-301 Phase 3 clinical study evaluating investigational new drug PEGPH20 as a first-line therapy for treatment of patients with metastatic pancreas cancer failed to reach the primary endpoint of overall survival. The treatment arm of PEGPH20 in combination with gemcitabine and nab-paclitaxel (ABRAXANE®) failed to demonstrate an improvement in median overall survival compared to gemcitabine and nab-paclitaxel alone (11.2 months compared to 11.5 months, HR=1.00, p=0.9692). While there was a higher response rate in the PEGPH20 treatment arm, this did not translate into an improvement in duration of response, Progression Free Survival or Overall Survival.
Pattern Energy Group Inc. (Nasdaq: PEGI) 2.7% LOWER; PEGI and Canada Pension Plan Investment Board ("CPPIB") today announced they have entered into a definitive agreement, pursuant to which CPPIB will acquire Pattern Energy in an all-cash transaction for $26.75 per share, implying an enterprise value of approximately $6.1 billion, including net debt.
US Cellular (NYSE: USM) 2.6% HIGHER; upgraded at Raymond James and JPMorgan
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China Said to Weigh Asking After-School Tutors to Go Non-Profit - Bloomberg
- Industrial Human Capital, Inc. (AXHU) Announces 25M Unit IPO at $10/unit
- Pre-Open Stock Movers 07/22: (IGC) (CROX) (CSX) Higher; (TCON) (NTGR) (TXN) Lower (more...)
Create E-mail Alert Related CategoriesSpecial Reports
Related EntitiesJPMorgan, Raymond James, Wells Fargo, Pre-Open Losers, Pre-Open Winners, Definitive Agreement, Pre Market Movers, Sachem Head Capital, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!