Pre-Open Stock Movers 04/08: (ORBC) (AVCT) (RICE) Higher; (BOX) (OTIC) (LNDC) Lower (more...)
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Pre-Open Stock Movers:
ORBCOMM Inc. (Nasdaq: ORBC) 52.3% HIGHER; announced that it has entered into a definitive agreement to be acquired by GI Partners, a leading US-based investor in data infrastructure businesses, in an all-cash transaction that values ORBCOMM at approximately $1.1 billion, including net debt.
American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) 43% HIGHER; received an unsolicited non-binding proposal, subject to certain conditions, to acquire all of the issued and outstanding shares of common stock of the Company (on an as-converted and as-exercised basis) for a price of approximately $9.00 per share.
Rice Acquisition Corp. (NYSE: RICE) 37.3% HIGHER; announced an agreement to enter into a business combination with Aria Energy LLC (Aria) and Archaea Energy LLC (Archaea LLC), which will create the industry-leading renewable natural gas (RNG) platform. The combined Company will be named Archaea Energy (the combined Company), with an experienced executive team comprised of leaders from Archaea LLC and Aria. The transaction is expected to close in the third quarter of 2021 and the combined Company plans to be listed on the NYSE under the ticker symbol LFG.
Aprea Therapeutics, Inc. (NASDAQ: APRE) 11.2% HIGHER; FDA orphan drug states.
Box, Inc. (NYSE: BOX) 10.2% LOWER; Box and KKR, a leading global investment firm, today announced an agreement for KKR funds to lead a $500 million investment in the company in the form of convertible preferred stock. The investment from KKR will advance the companys strategy to deliver the Box Content Cloud and enable customers to modernize how they work and drive digital transformation throughout their organizations.
Otonomy, Inc. (Nasdaq: OTIC) 9.4% LOWER; announced that it has commenced an underwritten public offering of its common stock.
Landec (NASDAQ: LNDC) 8.2% LOWER; reported Q3 EPS of ($0.09), $0.11 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $137.8 million versus the consensus estimate of $139.8 million. Landec sees FY2021 revenue of $523-532 million, versus the consensus of $542.3 million.
CommScope Holding Company, Inc. (NASDAQ: COMM) 7.4% HIGHER; announced its plan to spin-off its Home Networks business and other initiatives to reduce operating costs throughout the Company.
Academy Sports and Outdoor (NASDAQ: ASO) 6% LOWER; Block of 9M Shares Said Offered Via JPMorgan - Bloomberg
Brightsphere Investment (NYSE: BSIG) 5.6% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $30.00 (from $21.00).
Dolphin Entertainment, Inc. (NASDAQ: DLPN) 5.4% LOWER; rescheduled its conference call to discuss financial results for its fourth quarter and full year ended December 31, 2020 to Thursday, April 8, 2021, at 5:00pm ET.
Weight Watchers International (NASDAQ: WW) 4.9% LOWER; Morgan Stanley downgraded from Overweight to Equalweight with a price target of $34.00 (from $34.00).
GameStop Corp. (NYSE: GME) 4% HIGHER; nominating Ryan Cohen as Chairman
Strongbridge Biopharma plc, (Nasdaq: SBBP) 3.7% HIGHER; announced that results from a subanalysis of patients with diabetes mellitus from the Phase 3 SONICS study of RECORLEV® (levoketoconazole) for the potential treatment of endogenous Cushings syndrome were published in the peer-reviewed journal, Frontiers in Endocrinology.
CarGurus Inc. (NASDAQ: CARG) 1.8% HIGHER; Raymond James assumes coverage, upgraded from Market Perform to Outperform with a price target of $34.00.
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