Pre-Open Stock Movers 01/10: (GNVC) (ILMN) (VRX) Higher; (ASNA) (WMB) (FRSH) Lower (more...)

January 10, 2017 9:23 AM EST
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Price: $0.32 --0%

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Today's Pre-Open Stock Movers:

GenVec (NASDAQ: GNVC) 46% HIGHER; sees continued upside

Ascena Retail (NASDAQ: ASNA) 21% LOWER; Excluding restructuring, acquisition and integration related expenses, and non-cash ANN purchase accounting adjustments, the Company now expects non-GAAP EPS of $(0.11) to $(0.08) for the fiscal second quarter, ending January 28, 2017 (*** the consensus is $-0.03). Based on ongoing store traffic headwinds, the Company now expects full year fiscal 2017 non-GAAP EPS in the range of $0.37 to $0.42 for the 52-week period ending July 29, 2017. (*** the consensus is $0.58)

Illumina, Inc. (NASDAQ: ILMN) 14.6% HIGHER; introduced the NovaSeqTM Series, a new and scalable sequencing architecture expected one day to enable a $100 genome. Unveiled at the J.P. Morgan Healthcare Conference, this platform redefines high throughput sequencing with unrivaled throughput, ease of use, low per sample costs, and unmatched flexibility. Upgraded at BofA/ML.

Valeant (NYSE: VRX) 12.6% HIGHER; Sold its CeraVe, AcneFree and AMBI skincare brands to L'Oreal for $1.3 billion in cash. Sold Dendreon Pharmaceuticals to the Sanpower Group Co. for $820 million. Also, announced positive results from a second confirmatory pivotal Phase 3, multicenter double-blind, randomized, vehicle-controlled clinical study to assess the safety and efficacy of IDP-118 (halobetasol propionate and tazarotene) lotion in the treatment of plaque psoriasis.

Pixelworks, Inc. (NASDAQ: PXLW) 12.3% HIGHER; announced preliminary financial results for the fourth quarter of 2016. For the quarter ended December 31, 2016, revenue is expected to be approximately $16 million, at the high end of the Company’s previous revenue guidance of $15 million to $16 million (*** consensus is $15.5 million).

Barracuda Networks (NYSE: CUDA) 8.3% HIGHER; reported Q3 EPS of $0.22, $0.08 better than the analyst estimate of $0.14. Revenue for the quarter came in at $88.8 million versus the consensus estimate of $86.59 million.

Williams (NYSE: WMB) 7.3% LOWER; Williams (NYSE: WMB) and Williams Partners L.P. (NYSE: WPZ) today announced an agreement to permanently waive payment obligations under the incentive distribution rights held by Williams and convert Williams economic general partner interest into a non-economic interest for 289 million newly issued Williams Partners common units (collectively, the IDR Waiver). The estimated transaction value is approximately $11.4 billion. Following the IDR Waiver, Williams will hold approximately 660 million Williams Partners common units, representing approximately 72% of the common units outstanding.. Also, commenced an underwritten public offering of 65 million shares of Williams common stock. The underwriters will be granted a 30-day option to purchase up to an additional 9.75 million shares of common stock.

Papa Murphy’s Holdings, Inc. (NASDAQ: FRSH) 7% LOWER; estimates total revenue of approximately $35.5 million (*** cons $38.74 million).

WD-40 Co. (NASDAQ: WDFC) 6% LOWER; reported Q1 EPS of $0.82, $0.05 worse than the analyst estimate of $0.87. Revenue for the quarter came in at $89.5 million versus the consensus estimate of $96.31 million. GUIDANCE: WD-40 Co. sees FY2017 EPS of $3.64-$3.71, versus the consensus of $3.67. WD-40 Co. sees FY2017 revenue of $395-404 million, versus the consensus of $397.19 million.

Atwood Oceanics (NYSE: ATW) 5.6% LOWER; filed to offer 13,500,000 common shares via Goldman Sachs.

Halozyme Therapeutics (HALO) 5.5% LOWER; Sees FY17 Rev. of $115M-$130M, versus the consensus of $173 million.

Pluristem Therapeutics Inc. (Nasdaq: PSTI) 5.4% HIGHER; announced that the Companys Phase III study of its PLX-PAD cells in the treatment of critical limb ischemia (CLI) was cleared by the U.S. Food and Drug Administration (FDA). Pluristems strategy is to use this single multinational Phase III study to support the submission of a biologics license application (BLA) to the FDA for marketing approval. Pluristem expects to begin enrolling patients in its Phase III study in both the U.S. and Europe during the first half of 2017.

Boot Barn Holdings, Inc. (NYSE: BOOT) 5.3% LOWER; Preliminary net income per diluted share of approximately $0.39, compared to previous guidance of $0.38 to $0.43. (*** cons $0.43).

Egalet Corp (NASDAQ: EGLT) 4.6% LOWER; gives up more intra-day gains amid questions about the label following FDA approval.

Twilio (NYSE: TWLO) 3.4% HIGHER; Canaccord Genuity upgraded from Hold to Buy with a price target of $35.00.

City Office REIT, Inc. (NYSE: CIO) 3.1% LOWER; announced today that it has commenced an underwritten public offering of 4,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.

Halozyme Therapeutics (NASDAQ: HALO) 3.1% LOWER; Sees FY17 Rev. of $115M-$130M

VOXX Int'l (NASDAQ: VOXX) 1.9% HIGHER; reported Q3 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $198.9 million versus the consensus estimate of $204 million.

Discovery Communications (NASDAQ: DISCA) 1.5% LOWER; Credit Suisse downgraded from Neutral to Underperform with a price target of $23.00 (from $25.00).

Cray Inc. (Nasdaq: CRAY) 1.3% LOWER; total revenue for 2016 is expected to be about $630 million, in the range of the previously provided guidance, and the Company expects to be profitable on both a GAAP and non-GAAP basis for 2016. (Street sees FY16 revenue of $650.2M)

Kite Pharma (Nasdaq: KITE) 1% HIGHER; entered into a strategic partnership with Daiichi Sankyo Co., Ltd. (Daiichi Sankyo) for axicabtagene ciloleucel (approved USAN for KTE-C19) in Japan. Axicabtagene ciloleucel, Kites lead product candidate, is an investigational therapy in which a patient's T cells are engineered to express a chimeric antigen receptor (CAR) to target the antigen CD19, a protein expressed on the cell surface of B-cell lymphomas and leukemias, and redirect the T cells to kill cancer cells.



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