Pre-Open Stock Movers 04/11: (VKTX) (HTS) (CHK) Higher; (OMEX) (MDXG) (INSY) (HTZ) Lower (more...)

April 11, 2016 9:34 AM EDT
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Price: $6.57 -0.45%

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Today's pre-open movers:

Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) 61.2% LOWER; was informed that the recent decision by the Mexican Secretary of Environment and Natural Resources (SEMARNAT) regarding the Don Diego dredging and phosphate sand extraction project resulted in a denial of the application for an environmental license as presented.

MiMedx Group, Inc. (Nasdaq: MDXG) 17.7% LOWER; recorded record revenue for the 2016 first quarter of $53.4 million, a $12.6 million or 31% increase over 2015 first quarter revenue of $40.8 million. *** The Street was looking for Q1 revenue of $57.3 million.

Insys Therapeutics, Inc. (Nasdaq: INSY) 15% LOWER; announced that its preliminary estimated revenues from Subsys® (fentanyl sublingual spray) for the first quarter of 2016 will be in the range of $61 million to $62 million. Estimated revenues for the quarter reflect a decline in demand, as Subsys prescription volumes were down, as well as a reduction in wholesale inventory levels. The Company estimates the decrease in wholesale channel inventory levels to be in the range of $7 million.

Viking Therapeutics, Inc (Nasdaq: VKTX) 11.6% HIGHER; highlighted positive data from a Phase 1b clinical trial of VK2809 in subjects with mild hypercholesterolemia, presented at the 65th Annual Scientific Session & Expo of the American College of Cardiology (ACC). The results demonstrated substantial and clinically meaningful reductions in subjects' low-density lipoprotein cholesterol (LDL-C), triglycerides, and atherogenic proteins lipoprotein-a and apolipoprotein B following 14 days of treatment. VK2809 is a novel, orally available small molecule thyroid receptor agonist that possesses selectivity for liver tissue, as well as the beta receptor subtype, suggesting promising therapeutic potential in this patient population.

Hertz Global Holdings, Inc. (NYSE: HTZ) 8.8% LOWER; said today that, due to what the company believes is excess industry capacity, it now expects its first quarter and full year 2016 U.S. car rental (U.S. RAC) revenue and consolidated first quarter adjusted earnings per share to be lower than previously expected. Despite this reduction, the company is affirming its full-year 2016 adjusted Corporate EBITDA* guidance within a range of $1.6 to $1.7 billion.

Hatteras Financial Corp. (NYSE: HTS) 8.1% HIGHER; Annaly Capital Management, Inc. (NYSE: NLY) and Hatteras Financial Corp. (NYSE: HTS) announced the signing of a definitive merger agreement under which Annaly will acquire Hatteras for consideration to be paid in cash and shares of Annaly common stock, which values Hatteras at $15.85 per share of Hatteras common stock based upon the closing price of Annaly common stock on April 8, 2016.

Chesapeake Energy Corporation (NYSE: CHK) 7.7% HIGHER; announced it has amended its $4.0 billion secured revolving credit facility agreement maturing in 2019 with its bank syndicate group.

Restaurant Brands International (NYSE: QSR) 4% HIGHER; RBC Capital upgraded from Sector Perform to Outperform with a price target of $48.00 (from $38.00), citing an upside bias to EPS.

National Oilwell Varco (NYSE: NOV) 3.8% LOWER; announced that its Board of Directors has approved a plan to reduce the Company’s quarterly dividend to $0.05 per share in response to market conditions which continued to deteriorate through the first quarter of 2016. *** The prior quarterly dividend rate was $0.46 per share.

Toll Brothers (NYSE: TOL) 3.3% HIGHER; Barron's article said the stock has 40% upside.

Annaly Capital Management, Inc. (NYSE: NLY) 3% LOWER; Annaly Capital Management, Inc. (NYSE: NLY) and Hatteras Financial Corp. (NYSE: HTS) announced the signing of a definitive merger agreement under which Annaly will acquire Hatteras for consideration to be paid in cash and shares of Annaly common stock, which values Hatteras at $15.85 per share of Hatteras common stock based upon the closing price of Annaly common stock on April 8, 2016.

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) 2.4% HIGHER; issued a statement regarding the Senate Committee on Aging's subpoena to depose Valeant Chief Executive Officer, J. Michael Pearson



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