Pre-Open Stock Movers 01/11: (SBEV) (TSRI) (BDTX) Higher; (PACB) (BIG) (RIVN) Lower (more...)

Pre-Open Stock Movers:

Splash Beverage Group Inc. (NYSE: SBEV) 54% HIGHER; received authorization to sell its TapouT performance drink in Florida beginning with 47 Walmart stores located in major metropolitan regions. Walmart has approximately 341 stores in the state of Florida, the second largest number of stores by state in the U.S.

TSR, Inc. (NASDAQ: TSRI) 52.7% HIGHER; For the quarter ended November 30, 2021, revenue increased 48.5% to $23.9 million as compared to revenue of $16.1 million in the prior year second quarter. Net income attributable to TSR for the current quarter was $243,000, or $0.12 per diluted share, as compared to net loss of ($247,000), or $0.13 per diluted share in the prior year quarter. The Company ended the quarter with a strong balance sheet with $6.3 million in cash and less than $50,000 in debt, resulting in net cash in excess of $6.2 million, or $3 per share.

Black Diamond Therapeutics, Inc. (Nasdaq: BDTX) 13.1% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has cleared an investigational new drug (IND) application for its MasterKey inhibitor BDTX-1535, an irreversible, mutant selective, brain-penetrant inhibitor of oncogenic mutations of epidermal growth factor receptor (EGFR) expressed in glioblastoma multiforme (GBM) and intrinsic and acquired resistance EGFR mutations in non-small cell lung cancer (NSCLC). The Company expects to initiate the Phase 1 study of BDTX-1535 in the first quarter of 2022 and expects to provide a clinical update in the second half of 2023.

Accolade (NASDAQ: ACCD) 12.9% HIGHER; reported Q3 EPS of $0.31, versus ($0.32) reported last year. Revenue for the quarter came in at $83.5 million, versus $38.44 million reported last year. Accolade sees Q4 2022 revenue of $90-93 million.

Inari Medical, Inc. (NASDAQ: NARI) 10.3% HIGHER; Preliminary unaudited revenue is expected to be between $82.8 and $83.3 million for the fourth quarter of 2021, up 14% sequentially and 71% year-over-year (at the midpoint of the range).

Pacific Bio (NASDAQ: PACB) 9.7% LOWER; fell after Illumina, Inc. (NASDAQ: ILMN) said it will develop its own technology for sequencing long stretches of DNA.

Abercrombie & Fitch Co. (NYSE: ANF) 6.8% HIGHER; For Fiscal 2021 the company expects: Net sales up in the range of 19% to 20% compared to 2020 net sales of $3.125 billion and up 2% to 3% compared to 2019 net sales of $3.623 billion.

Big Lots, Inc. (NYSE: BIG) 5.8% LOWER; Adverse weather conditions and the rapid spread of the Omicron strain of Covid-19 and its impact on consumer behavior resulted in softening of traffic and sales trends since early January. Based on a continuation of current trends, the company would expect to achieve a flat to low-single-digit percentage two-year comparable sales growth, resulting in diluted quarterly EPS of $1.80-1.95, which is below the consensus of $2.17.

Rivian Automotive's (NASDAQ: RIVN) 4% LOWER; COO left the company last month as it was ramping up production, according to Dow Jones. It ultimately produced more than 1,000 vehicles by the end of 2021, the report said, citing a spokeswoman. Rod Copes retired from Rivian in December.

bluebird bio, Inc. (Nasdaq: BLUE) 3.6% HIGHER; to Provide Update on Program Milestones and 2022 Financial Outlook at the 40th Annual J.P. Morgan Healthcare Conference

Lithium Americas Corp. (NYSE: LAC) 3.6% HIGHER; upgraded at Piper Sandler and Deutsche Bank

Juniper Networks (NYSE: JNPR) 3.5% HIGHER; BofA Securities upgraded from Underperform to Buy with a price target of $40.00 (from $22.00).

IBM (NYSE: IBM) 3.4% LOWER; UBS downgraded from Neutral to Sell with a price target of $124.00 (from $136.00).

Intel (NASDAQ: INTC) 2.5% HIGHER; Micron (NYSE: MU) CFO David Zinsner resigned to join Intel as its Executive Vice President and CFO, effective Jan 17.

TuSimple Holdings Inc. (NASDAQ: TSP) 2.4% HIGHER; KeyBanc initiates coverage with an Overweight rating and a price target of $50.00.

Alcoa (NYSE: AA) 1.9% LOWER; Deutsche Bank downgraded from Buy to Hold with a price target of $65.00 (from $60.00).

Bill.com Holdings Inc. (NYSE: BILL) 1.8% HIGHER; ​Goldman Sachs initiates coverage with a Buy rating and a price target of $296.00.

Micron (NYSE: MU) 1.1% LOWER; CFO David Zinsner resigned to join Intel as its Executive Vice President and CFO, effective Jan 17.

AMD (NASDAQ: AMD) 1% HIGHER; KeyBanc upgraded from Sector Weight to Overweight with a price target of $155.00.

You May Also Be Interested In

• Rubrik, Inc. (RBRK) IPO Opens at $38.60, Priced at $32
• 10 analysts discuss Meta Platforms (META) stock after earnings selloff
• Meta Platforms Inc. (META) PT Lowered to $500 at Goldman Sachs, 'Management Track Record of Execution Leaves Us Long-Term Constructive'