Pre-Open Stock Movers 04/24: (MESO) (CHK) (WWE) Higher; (WLL) (JCP) (INTC) Lower (more...)

Pre-Open Stock Movers

Mesoblast Limited (Nasdaq: MESO) 127.9% HIGHER; announced 83% survival in ventilator-dependent COVID-19 patients (10/12) with moderate/severe acute respiratory distress syndrome (ARDS) treated during the period March-April 2020 with two intravenous infusions of Mesoblasts allogeneic mesenchymal stem cell product candidate remestemcel-L within the first five days. 75% (9/12) have successfully come off ventilator support at a median of 10 days. At this time, seven have been discharged from the hospital. Patients received a variety of experimental agents prior to remestemcel-L. All patients were treated under an emergency Investigational New Drug (IND) application or expanded access protocol at New York Citys Mt Sinai hospital.

Chesapeake Energy Corporation (NYSE: CHK) 17% HIGHER; announced today that its Board of Directors adopted a shareholder rights plan designed to protect the availability of Chesapeake's net operating loss carryforwards under the Internal Revenue Code.

Whiting Petroleum Corporation (NYSE: WLL) 20% LOWER; Whiting Petroleum and certain subsidiaries (collectively, Whiting or the Company) today announced that they have entered into a restructuring support agreement (the RSA) with certain holders (the Supporting Noteholders) of its 1.25% convertible senior notes due 2020, 5.750% senior notes due 2021, 6.250% senior notes due 2023 and 6.625% senior notes due 2026 (collectively, the Senior Notes). In addition, the Company has filed a consensual chapter 11 plan of reorganization (the Plan) and a related disclosure statement (the Disclosure Statement) with the United States Bankruptcy Court for the Southern District of Texas (the Court). The Plan outlines a proposed path to strengthen the Companys balance sheet, reducing debt and improving liquidity in order to emerge from bankruptcy as a financially stronger company in accordance with the terms of the RSA.

JC Penney (NYSE: JCP) 14.9% LOWER; is in advanced talks for bankruptcy funding with lenders, according to a report from Dow Jones overnight, citing people familiar with the matter. Discussions with existing lenders include Wells Fargo, Bank of America and JPMorgan for a debtor-in-possession loan. The loan package could total roughly $800 million to $1 billion.

World Wrestling Entertainment (NYSE: WWE) 9.6% HIGHER; reported Q1 EPS of $0.31, $0.06 better than the analyst estimate of $0.25. Revenue for the quarter came in at $291 million versus the consensus estimate of $266.52 million.

Bank OZK (NASDAQ: OZK) 6.8% LOWER; reported Q1 EPS of $0.09, $0.52 worse than the analyst estimate of $0.61.

Trex Company, Inc. (NASDAQ: TREX) 6% LOWER; On CNBC, Steve Eisman said he is short Trex (NYSE: TREX), saying estimates need to come down sharply.

Limelight Networks (NASDAQ: LLNW) 6% LOWER; reported Q1 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenue for the quarter came in at $57 million versus the consensus estimate of $54.65 million.

Intel (NASDAQ: INTC) 5% LOWER; reported Q1 EPS of $1.45, $0.17 better than the analyst estimate of $1.28. Revenue for the quarter came in at $19.8 billion versus the consensus estimate of $18.7 billion. Intel sees Q2 2020 EPS of $1.10, versus the consensus of $1.19. Intel sees Q2 2020 revenue of $18.5 billion, versus the consensus of $17.97 billion.

Zoom Video (Nasdaq: ZM) 4.5% HIGHER; Nasdaq (Nasdaq: NDAQ) today announced that Zoom Video Communications, Inc. (Nasdaq: ZM), will become a component of the NASDAQ-100 Index® (Nasdaq: NDX), the NASDAQ-100 Equal Weighted Index (Nasdaq: NDXE) and the NASDAQ-100 Ex-Tech Sector Index (Nasdaq: NDXX) prior to market open on Thursday, April 30, 2020. Zoom Video Communications, Inc. will replace Willis Towers Watson (Nasdaq: WLTW) in the NASDAQ-100 Index®, the NASDAQ-100 Equal Weighted Index and the NASDAQ-100 Ex-Tech Sector Index (Nasdaq: NDXX) prior to market open on Thursday, April 30, 2020.

eHealth (NASDAQ: EHTH) 4.2% LOWER; reported Q1 EPS of $0.39, $0.17 better than the analyst estimate of $0.22. Revenue for the quarter came in at $106.4 million versus the consensus estimate of $87.66 million. eHealth sees FY2020 EPS of $3.41-$3.90, versus the consensus of $3.79. eHealth sees FY2020 revenue of $600-640 million, versus the consensus of $609.12 million.

Edwards Lifesciences (NYSE: EW) 3.3% HIGHER; reported Q1 EPS of $1.51, $0.18 better than the analyst estimate of $1.33. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.08 billion. Edwards Lifesciences sees FY2020 EPS of $4.75-$5.25, versus the consensus of $5.10. Edwards Lifesciences sees FY2020 revenue of $4-4.5 billion, versus the consensus of $4.37 billion.

NeoPhotonics (NYSE: NPTN) 2.5% LOWER; Rosenblatt downgraded from Buy to Neutral with a price target of $9.00.

Splunk (NASDAQ: SPLK) 2% LOWER; Cowen downgraded from Outperform to Market Perform with a price target of $140.00 (from $165.00).

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