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Pre-Open Stock Movers 03/16: (JD) (BABA) (NIO) Higher; (PTE) (S) (BRDS) Lower (more...)

March 16, 2022 9:26 AM EDT

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Pre-Open Stock Movers:

JD.com, Inc. (NASDAQ: JD) 25.3% HIGHER; 25.4% HIGHER; U.S.-traded Chinese stocks gain as China pledges to keep financial markets stable and reports regulators in China and the U.S. are working together to devise a cooperation plan for U.S.-listed Chinese stock.

Alibaba Group (NASDAQ: BABA) 20% HIGHER; U.S.-traded Chinese stocks gain as China pledges to keep financial markets stable and reports regulators in China and the U.S. are working together to devise a cooperation plan for U.S.-listed Chinese stock.

NIO Inc. (NYSE: NIO) 17.6% HIGHER; U.S.-traded Chinese stocks gain as China pledges to keep financial markets stable and reports regulators in China and the U.S. are working together to devise a cooperation plan for U.S.-listed Chinese stock. Citi starts at Buy.

NetEase, Inc. (NASDAQ: NTES) 16.6% HIGHER; U.S.-traded Chinese stocks gain as China pledges to keep financial markets stable and reports regulators in China and the U.S. are working together to devise a cooperation plan for U.S.-listed Chinese stock.

Baidu, Inc. (NASDAQ: BIDU) 15.8% HIGHER; U.S.-traded Chinese stocks gain as China pledges to keep financial markets stable and reports regulators in China and the U.S. are working together to devise a cooperation plan for U.S.-listed Chinese stock.

PolarityTE, Inc. (Nasdaq: PTE) 14.3% LOWER; entered into a securities purchase agreement with a single healthcare-focused institutional investor to sell 3,000.000435 shares of Series A convertible preferred stock and 2,000.00029 shares of Series B convertible preferred stock and warrants to purchase up to an aggregate of 16,393,445 shares of common stock. Each share of Series A and Series B preferred stock has a stated value of $1,000 per share and a conversion price of $0.305 per share. The shares of preferred stock issued in the offering are convertible into an aggregate of 16,393,445 shares of common stock. The warrants have an exercise price of $0.35 per share, will become exercisable six months following the date of issuance, and will expire two years following the original issuance date. Total gross proceeds from the offering, before deducting the placement agent's fees and other estimated offering expenses, is approximately $5.0 million

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 12.6% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has allowed an Investigational New Drug Application (IND) to proceed for its first genetically modified TIL therapy, IOV-4001, for the treatment of unresectable or metastatic melanoma and stage III or IV NSCLC.

Yum China Holdings, Inc. (NYSE: YUMC) 11% HIGHER; U.S.-traded Chinese stocks gain as China pledges to keep financial markets stable and reports regulators in China and the U.S. are working together to devise a cooperation plan for U.S.-listed Chinese stock.

Markforged Holding Corporation (NYSE: MKFG) 9.4% HIGHER; reported Q4 EPS of $0.02, $0.10 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $26.6 million versus the consensus estimate of $24.51 million. Markforged Holding Corporation sees FY2022 revenue of $114-123 million, versus the consensus of $120.3 million

Jabil (NYSE: JBL) 7.6% HIGHER; reported Q2 EPS of $1.68, $0.20 better than the analyst estimate of $1.48. Revenue for the quarter came in at $7.6 billion versus the consensus estimate of $7.45 billion. Jabil sees FY2022 EPS of $7.25, versus the consensus of $7.15. Jabil sees FY2022 revenue of $32.6 billion, versus the consensus of $32.3 billion. Jabil sees Q3 2022 EPS of $1.40-$1.80, versus the consensus of $1.46. Jabil sees Q3 2022 revenue of $7.9-8.5 billion, versus the consensus of $7.71 billion.

Catalyst Biosciences, Inc. (NASDAQ: CBIO) 5.9% HIGHER; announced that the company has regained full rights to CB 2782-PEG, a C3-degrader for the treatment of dry AMD (dAMD). Under the terms of the agreement, Biogen has returned the rights for further development on CB 2782-PEG and has ended the collaboration on other potential AMD treatments.

Starbucks Corporation (NASDAQ: SBUX) 5.8% HIGHER; announced that Kevin Johnson, president and chief executive officer, intends to retire after a 13-year tenure at the company, including the last five years as ceo. Johnson will transition from his current role on April 4, 2022, and will continue to serve as a Starbucks partner (employee) and special consultant to the company and Board of Directors through September. The Starbucks Board of Directors has been engaged in continuous ceo succession planning, assisted by Russell Reynolds Associates since 2021, and anticipates selecting a new leader by the Fall. To ensure seamless stewardship of the company until a permanent successor is named, the Board has appointed Howard Schultz as interim chief executive officer, effective April 4, 2022. Schultz will also rejoin the company's Board of Directors.

Caleres (NYSE: CAL) 4.4% HIGHER; reported Q4 EPS of $0.91, $0.24 better than the analyst estimate of $0.67. Revenue for the quarter came in at $679.3 million versus the consensus estimate of $677.21 million. Caleres sees FY2022 EPS of $3.75-$4.00, versus the consensus of $4.03.

Allbirds, Inc. (NASDAQ: BIRD) 4.2% HIGHER; CFO, Michael Bufano, bought 25,000 shares on 03/14/22 at an average price of $5.1661. The value of the transaction was $129,152

SentinelOne, Inc. (NYSE: S) 3.7% LOWER; reported Q4 EPS of ($0.17), $0.01 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $65.6 million versus the consensus estimate of $60.65 million. SentinelOne, Inc. sees Q1 2023 revenue of $74-75 million, versus the consensus of $68.2 million. SentinelOne, Inc. sees FY2023 revenue of $366-370 million, versus the consensus of $346.2 million.

Butterfly Network (NYSE: BFLY) 3.3% HIGHER; Director, Larry Robbins of Glenview Capital, bought 500,000 shares through the hedge fund.

Bird Global (NYSE: BRDS) 3% LOWER; reported Q4 revenue of $54 million versus the consensus estimate of $50.78 million. Bird Global sees Q1 2022 revenue of $34-36 million, versus the consensus of $49 million. Bird Global sees FY2022 revenue of at least $350 million, versus the consensus of $381.7 million.



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