Pre-Open Stock Movers 01/19: (ZGNX) (SOFI) (LPTX) Higher; (CRDF) (ADS) (CSCO)) Lower (more...)

January 19, 2022 9:12 AM EST

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Pre-Open Stock Movers

Zogenix (NASDAQ: ZGNX) 67.6% HIGHER; UCB and Zogenix (NASDAQ: ZGNX) announced today that the companies have entered into a definitive agreement under which UCB would acquire Zogenix, Inc., a global biopharmaceutical company commercializing and developing therapies for rare diseases. Under the terms of the agreement, UCB will commence a tender offer to purchase all outstanding shares of Zogenix for a purchase price per share of US$ 26.00 in cash at closing, plus a contingent value right (CVR) for a potential cash payment of US$ 2.00 upon EU approval by December 31, 2023, of FINTEPLA® as an orphan medicine for treatment of Lennox-Gastaut syndrome (LGS). The upfront consideration represents a 72% premium to Zogenix shares based on the 30-day volume weighted average closing stock price of Zogenix prior to signing. The total transaction is valued at up to approximately US$ 1.9 billion / € 1.7 billion.

SoFi Technologies, Inc. (NASDAQ: SOFI) 17.3% HIGHER; The Office of the Comptroller of the Currency (OCC) today conditionally approved applications from Social Finance Inc. (SoFi) (NASDAQ: SOFI) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heights, Utah. As part of the transaction, SoFi Bank, N.A. will acquire Golden Pacific Bank, National Association, a national bank insured by the Federal Deposit Insurance Corporation.

Leap Therapeutics, Inc. (Nasdaq: LPTX) 8.8% HIGHER; will be presenting updated data from the DisTinGuish study, a Phase 2a clinical trial evaluating Leap's anti-Dickkopf-1 (DKK1) antibody, DKN-01, in combination with tislelizumab, BeiGene's anti-PD-1 antibody, in patients with gastric or gastroesophageal junction cancer (G/GEJ), at the American Society of Clinical Oncology (ASCO) Gastrointestinal (GI) Cancers Symposium being held on January 20-22, 2022.

Cardiff Oncology, Inc. (Nasdaq: CRDF) 8.3% LOWER; announced new data from its lead clinical program evaluating onvansertib in combination with standard-of-care (SOC) FOLFIRI/bevacizumab for second-line treatment of patients with KRAS-mutated metastatic colorectal cancer (mCRC). A subset of these data will be featured in a poster presented by Dr. Heinz-Josef Lenz, principal investigator, USC Norris Comprehensive Cancer Center, at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCOGI) on Saturday, January 22, 2022.

ADS (NYSE: ADS) 5.9% LOWER; BJ's Wholesale Club (NYSE: BJ) Moving Co-Branded Credit Cards to Capital One (NYSE: COF) in Blow to ADS (NYSE: ADS) - WSJ

Morgan Stanley (NYSE: MS) 5.4% HIGHER; reported Q4 adjs. EPS of $2.08, versus $2.04 reported last year. Revenue for the quarter came in at $14.5 billion, versus $13.6 billion reported last year

Concentrix Corporation (NASDAQ: CNXC) 5% HIGHER; reported Q4 EPS of $2.99, $0.28 better than the analyst estimate of $2.71. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.46 billion. Concentrix Corporation sees FY2022 revenue of $6.45-6.6 billion, versus the consensus of $6.16 billion.

TEGNA (NYSE: TGNA) 4.3% HIGHER; Standard General, Apollo Global (NYSE: APO) Close in on $9B Deal for TEGNA (NYSE: TGNA).

Revance Therapeutics, Inc. (Nasdaq: RVNC) 4.2% HIGHER; received the official Type A meeting minutes from the U.S. Food and Drug Administration (FDA) regarding the Complete Response Letter (CRL) received for DaxibotulinumtoxinA for Injection for glabellar lines. The Type A meeting was held on December 15, 2021.

Bank of America (NYSE: BAC) 3.9% HIGHER; reported Q4 EPS of $0.82, $0.06 better than the analyst estimate of $0.76. Revenue for the quarter came in at $22.1 billion versus the consensus estimate of $22.23 billion.

Entegris Inc (NASDAQ: ENTG) 3.9% HIGHER; Deutsche Bank upgraded from Hold to Buy with a price target of $160.00.

Cisco (NASDAQ: CSCO) 2.8% LOWER; Goldman Sachs downgraded from Buy to Neutral with a price target of $65.00.

Venus Concept Inc. (NASDAQ: VERO) 2.3% HIGHER; received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market the Venus BlissMAX device (BlissMAX) in the United States.



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