Pre-Open Stock Movers 04/14: (MEIP) (BLPH) (NBEV) Higher; (WORX) (XENT) Lower (more...)

April 14, 2020 9:30 AM EDT

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Today's Pre-Open Stock Movers

MEI Pharma, Inc. (NASDAQ: MEIP) 80.8% HIGHER; MEI Pharma and Kyowa Kirin Co., Ltd. (Kyowa Kirin, TSE: 4151) today jointly announced that the companies have entered into a global license, development and commercialization agreement to further develop and commercialize MEI's ME-401, an oral, once-daily, investigational drug-candidate, selective for phosphatidylinositol 3-kinase delta (PI3K), in clinical development for the treatment of B-cell malignancies. MEI and Kyowa Kirin will co-develop and co-promote ME-401 in the U.S., with MEI booking all revenue from U.S. sales. Kyowa Kirin has exclusive commercialization rights outside of the U.S.

Bellerophon Therapeutics (NASDAQ: BLPH) 20% HIGHER; Brookline Capital initiates coverage on with a Buy rating and a price target of $35.00.

SCWorx Corp. (Nasdaq: WORX) 17.8% LOWER; lower after gaining 425% on Monday.

New Age Beverages Corporation (Nasdaq: NBEV) 13.9% HIGHER; Expects to report revenue for the quarter ended March 31, 2020 of between $62 and $64 million, compared to the $58.3 million for the quarter ended March 31, 2019, an increase of approximately 6% to 10%. The Company expects to report gross margin in the low to mid 60% range a reversal of the previous trend in fiscal 2019 of 66%, 63%, 58%, and 54% in the quarters ended March 31, June 30, September 30, and December 31, 2019, respectively. (*Consensus sees Q1 revenue of $56.6 million)

Cinemark Holdings, Inc. (NYSE: CNK) 11.3% HIGHER; announced today that its wholly-owned subsidiary, Cinemark USA, Inc. (the Company), priced a private offering (the Offering) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act), to eligible purchasers of $250 million aggregate principal amount of its 8.750% Senior Secured Notes due 2025 (the Notes) at the initial offering price of 100% of the principal amount plus accrued and unpaid interest from April 20, 2020. The Offering is expected to close on April 20, 2020, subject to customary closing conditions.

Intersect ENT, Inc. (Nasdaq: XENT) 10.7% LOWER; Q1 net sales are expected to be in the range of $19.5 to $19.8 million, compared to $26.7 million in the first quarter of 2019.

Roku (NASDAQ: ROKU) 9% HIGHER; provided estimated Q1 results above views. The company sees Q1 revenue of $307-317 million, versus the consensus of $299.8 million. Roku estimates 39.8 million Active Accounts as of March 31, 2020, a net increase of nearly 3 million since December 31, 2019. Roku also expects first quarter Streaming Hours will be 13.2 billion, a 49% year-over-year increase.

Amarin Corp. (NASDAQ: AMRN) 7.5% HIGHER; announced that, based on a preliminary estimate, its total revenue, net for the three months ended March 31, 2020 was approximately $150 million, with the potential to increase modestly when finalized as a result of international revenue, licensing revenue and other considerations. This preliminary estimate predominantly reflects VASCEPA® (icosapent ethyl) sales in the United States. The Company also announced that, based on a preliminary estimate, as of March 31, 2020, its cash and cash equivalents and short-term investments were more than $620 million and less than $50 million remained due on its royalty-like debt instrument.

Tesla (NASDAQ: TSLA) 7.3% HIGHER; Credit Suisse upgraded to Neutral with a price target of $580.00 (from $415.00).

YETI Holdings Inc. (NYSE: YETI) 5.4% HIGHER; will replace LHC Group in the S&P SmallCap 600 prior to the open of trading on Friday, April 17.

Johnson & Johnson (NYSE: JNJ) 3.7% HIGHER; reported Q1 EPS of $2.30, $0.31 better than the analyst estimate of $1.99. Revenue for the quarter came in at $20.69 billion versus the consensus estimate of $19.44 billion. Johnson & Johnson sees FY2020 EPS of $7.50-$7.90, versus the consensus of $8.08. Johnson & Johnson sees FY2020 revenue of $77.5-80.5 billion, versus the consensus of $79.63 billion.

JPMorgan (NYSE: JPM) 2.7% HIGHER; reported Q1 EPS of $0.78, $1.06 worse than the analyst estimate of $1.84. Revenue for the quarter came in at $28.3 billion versus the consensus estimate of $29.67 billion. Credit costs of $8.3 billion, including reserve builds of $6.8 billion.

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