Pre-Open Stock Movers 05/12: Coupang, AppLovin Gain on Earnings; Dutch Bros and Beyond Meat Sink (more...)

May 12, 2022 9:18 AM EDT
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Price: $0.19 -5%

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Pre-Open Stock Movers:

Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX) 43% HIGHER; announced the successful completion of its pre-IND (Investigational New Drug) meeting process with the U.S. Food and Drug Administration (FDA) for SP-3164. SP-3164 is a next-generation targeted protein degrader that induces selective elimination of cancer-causing proteins. Salarius is developing SP-3164 as a potential treatment for hematological cancers and solid tumors.

Dutch Bros Inc. (NYSE: BROS) 37% LOWER; reported Q1 EPS of ($0.02), $0.03 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $152.2 million versus the consensus estimate of $145.63 million.

Beyond Meat (NASDAQ: BYND) 24% LOWER; reported Q1 EPS of ($1.58), $0.57 worse than the analyst estimate of ($1.01). Revenue for the quarter came in at $109.5 million versus the consensus estimate of $112.4 million. Beyond Meat sees FY2022 revenue of $560-620 million, versus the consensus of $588.9 million.

Coupang (NYSE: CPNG) 13% HIGHER; reported Q1 EPS of ($0.12), $0.05 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.25 billion.

AppLovin (NASDAQ: APP) 13% HIGHER; reported Q1 EPS of ($0.31), $0.23 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $625 million versus the consensus estimate of $823.37 million. AppLovin sees FY2022 revenue of $3.14-3.44 billion, versus the consensus of $3.69 billion. Increasing our Adjusted EBITDA target to a mid-point of $1.2 billion, equivalent to a mid-30%s margin, based on the continuing growth of our Software Platform business and expected operating improvements in Apps.

Bumble (NASDAQ: BMBL) 10% HIGHER; reported Q1 EPS of $0.13, $0.16 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $211.2 million versus the consensus estimate of $208.37 million. Bumble sees FY2022 revenue of $934-944 million, versus the consensus of $940.3 million.

Fossil Group (NASDAQ: FOSL) 9% LOWER; reported Q1 EPS of ($0.37), versus ($0.29) reported last year. Revenue for the quarter came in at $376 million, versus $363 million reported last year.

Coinbase (NASDAQ: COIN) 9% LOWER; continues lower following recent results and crypto weakness.

MicroStrategy (NASDAQ: MSTR) 8% LOWER; crypto weakness continues.

AmerisourceBergen Corporation (NYSE: ABC) 8% LOWER; Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced that it has sold 6.0 million shares of AmerisourceBergen Corporation (NYSE: ABC) common stock pursuant to Rule 144 at a price of $150 per share.

Sonos (NASDAQ: SONO) 6% HIGHER; reported Q2 EPS of $0.26, $0.19 better than the analyst estimate of $0.07. Revenue for the quarter came in at $399.8 million versus the consensus estimate of $352.84 million. Sonos sees FY2022 revenue of $1.95-2 billion, versus the consensus of $1.97 billion.

Zoom Video (NASDAQ: ZM) 5% LOWER; Piper Sandler downgraded from Overweight to Neutral with a price target of $96.00 (from $157.00).

Ford (NYSE: F) 5% LOWER; Wells Fargo downgraded from Overweight to Underweight with a price target of $12.00 (from $24.00).

General Motors (NYSE: GM) 5% LOWER; Wells Fargo downgraded from Overweight to Underweight with a price target of $33.



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