Pre-Open Stock Movers 04/23: (SYPR) (SLAB) (EBSB) Higher; (INO) (QDEL) (EDAP) Lower (more...)
- Dow ends at record high after upbeat jobless claims report
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- Square (SQ) Tops Q1 EPS by 25c
- Fed's Kaplan wants taper talk 'sooner rather than later'
- U.S. weekly jobless claims drop below 500,000; layoffs lowest since 2000
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Today's Pre-Open Stock Movers:
Sypris Solutions, Inc. (Nasdaq: SYPR) 33.5% HIGHER; announced today that it has recently received a follow-on award from a US DoD prime contractor to manufacture and test electronic assemblies for a Government spacecraft program. Production is expected to begin in 2021. Terms of the agreement were not disclosed.
INOVIO (NASDAQ: INO) 26.7% LOWER; announced that it is planning for a predominantly ex-U.S. Phase 3 trial for its COVID-19 vaccine candidate, INO-4800. Given the increasing availability of vaccines authorized for emergency use, the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) in coordination with the Office of the Assistant Secretary of Defense for Health Affairs (OASD(HA)) and the Defense Health Agency (DHA), will discontinue funding for the Phase 3 segment of the INNOVATE trial, while continuing to fund the completion of the ongoing Phase 2 segment. In correspondence, JPEO informed INOVIO: "The decision results from the changing environment of COVID-19 with the rapid deployment of vaccines. This decision is not a reflection of the awardee or product, rather a fast-moving environment associated with the former Operation Warp Speed on decisions related to future products."
Quidel Corporation (NASDAQ: QDEL) 15% LOWER; expects revenues in the first quarter of 2021 to be in the range of $374 million to $376 million (*Consensus sees Q1 revenue of $465.7 million)
Silicon Laboratories Inc. (Nasdaq: SLAB) 14% HIGHER; Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog semiconductors connecting people, places and things, today announced that it has entered into a definitive agreement with Silicon Laboratories Inc. (Nasdaq: SLAB), a leading provider of silicon, software and solutions for a smarter, more connected world, under which Skyworks will acquire the Infrastructure & Automotive business of Silicon Labs in an all-cash asset transaction valued at $2.75 billion.
Meridian Bancorp, Inc. (NASDAQ: EBSB) 13.8% HIGHER; Independent Bank Corp. (NASDAQ: INDB) (Independent), parent of Rockland Trust Company (Rockland Trust), and Meridian Bancorp, Inc. (NASDAQ: EBSB) (Meridian), parent of East Boston Savings Bank, have signed a definitive merger agreement for Independent to acquire Meridian and Rockland Trust to acquire East Boston Savings Bank.
EDAP TMS S.A. (NASDAQ: EDAP) 12.4% LOWER; announced today the launch of a follow-on public offering of its American Depositary Shares, or ADSs, each representing one ordinary share of the Company.
Skechers USA (NYSE: SKX) 11.2% HIGHER; reported Q1 EPS of $0.63, $0.17 better than the analyst estimate of $0.46. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.34 billion.
Conformis, Inc. (NASDAQ: CFMS) 9.3% HIGHER; announced today that it received 510(k) clearance by the U.S. Food and Drug Administration for patient-specific instrumentation (“PSI”) developed by the Company under its License Agreement and Development Agreement with Howmedica Osteonics Corp., a wholly owned subsidiary of Stryker Corporation also known as Stryker Orthopaedics. With the clearance of this PSI system, which is designed for use with Stryker’s Triathlon® Total Knee System, the Company has achieved the third of three milestones under the agreements and will receive $11.0 million from Stryker.
Mattel (NASDAQ: MAT) 7.8% HIGHER; reported Q1 EPS of ($0.10), $0.25 better than the analyst estimate of ($0.35). Revenue for the quarter came in at $874 million versus the consensus estimate of $684.19 million.
Boston Beer Co. (NYSE: SAM) 7.6% HIGHER; reported Q1 EPS of $5.26, $2.65 better than the analyst estimate of $2.61. Revenue for the quarter came in at $545.1 million versus the consensus estimate of $477.28 million. Boston Beer Co. sees FY2021 EPS of $22.00-$26.00, versus the consensus of $23.26.
Skillz Inc. (NYSE: SKLZ) 7.4% HIGHER; ARK buys more shares.
Snap (NYSE: SNAP) 5% HIGHER; reported Q1 EPS of $0.00, $0.05 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $770 million versus the consensus estimate of $743.01 million. DAUs were 280 million in Q1 2021, an increase of 51 million, or 22%, year-over-year. Snap sees Q2 2021 revenue of $820-840 million, versus the consensus of $826.1 million.
IMAX Corporation (NYSE: IMAX) 4.9% HIGHER; Wedbush upgraded Ifrom Neutral to Outperform with a price target of $26.
Kimberly-Clark (NYSE: KMB) 4% LOWER; reported Q1 EPS of $1.80, $0.12 worse than the analyst estimate of $1.92. Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.96 billion. Kimberly-Clark sees FY2021 EPS of $7.30-$7.55, versus the consensus of $7.75.
American Express (NYSE: AXP) 3.8% LOWER; reported Q1 EPS of $2.74, $1.13 better than the analyst estimate of $1.61. Revenue for the quarter came in at $9.06 billion versus the consensus estimate of $9.17 billion.
World Wrestling Entertainment (NYSE: WWE) 3.6% HIGHER; reported Q1 EPS of $0.51, $0.29 better than the analyst estimate of $0.22. Revenue for the quarter came in at $263.5 million versus the consensus estimate of $255.03 million. Adjusted OIBDA1 was $83.9 million, an increase of 9% or $6.6 million.
Seagate Technology (NASDAQ: STX) 2% LOWER; reported Q3 EPS of $1.48, $0.16 better than the analyst estimate of $1.32. Revenue for the quarter came in at $2.73 billion versus the consensus estimate of $2.68 billion. Seagate Technology sees Q4 2021 EPS of $1.45-$1.75, versus the consensus of $1.55. Seagate Technology sees Q4 2021 revenue of $2.6-3 billion, versus the consensus of $2.85 billion.
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