Pre-Open Stock Movers 05/16: ManTech, WideOpenWest Gain on M&A; Chimerix Plunges on TEMBEXA Deal (more...)

May 16, 2022 9:25 AM EDT

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Pre-Open Stock Movers:

Chimerix, Inc. (NASDAQ: CMRX) 53% LOWER; Emergent BioSolutions Inc. (NYSE: EBS) announced today that it has entered into a definitive agreement with Chimerix, Inc. (NASDAQ: CMRX), to acquire Chimerixs exclusive worldwide rights to TEMBEXA® (brincidofovir), the first antiviral approved by the U.S. Food and Drug Administration (FDA) for all age groups for the treatment of smallpox. TEMBEXA was approved in June 2021 and is indicated for the treatment of human smallpox disease in adult and pediatric patients, including neonates.

Weber Inc. (NYSE: WEBR) 16% LOWER; reported Q2 EPS of ($1.02), $1.20 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $607 million versus the consensus estimate of $659.06 million. Weber Inc. sees FY2022 revenue of $1.65-1.8 billion, versus the consensus of $2.09 billion.

WideOpenWest (NYSE: WOW) 16% HIGHER; Morgan Stanely Infrastructure in talks to acquire the company, Bloomberg reports.

ManTech (Nasdaq: MANT) 15% HIGHER; entered into a definitive agreement to be acquired by funds managed by global investment firm Carlyle (NASDAQ: CG) in an all-cash transaction with a total enterprise value of approximately $4.2 billion.

Rattler Midstream LP (NASDAQ: RTLR) 15% HIGHER; Diamondback Energy, Inc. (NASDAQ: FANG) and Rattler Midstream LP (NASDAQ: RTLR) announced that, on May 15, 2022, they entered into a definitive agreement for Diamondback to acquire all of the publicly held common units representing the limited partner interests in Rattler not already owned by Diamondback and its subsidiaries.

SoFi Technologies (NASDAQ: SOFI) 8% HIGHER; Piper Sandler upgraded to Overweight from Neutral with a price target of $10.00 per share (down from $12.00).

Biofrontera, Inc. (Nasdaq: BFRI) 6% LOWER; entered into a securities purchase agreement with a single institutional investor for the purchase of 3,419,000 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 3,419,000 shares of common stock, in a private placement.

Digital World Acquisition Corp. (Nasdaq: DWAC) 5% HIGHER; The company and Trump Media & Technology Group Corp. (TMTG) announced today that DWAC has filed with the U.S. Securities and Exchange Commission (SEC) a registration statement on Form S-4 (the Registration Statement) in connection with DWACs proposed business combination with TMTG.

Nio (NYSE: NIO) 4% HIGHER; Bank of America upgraded to Buy from Neutral with a $26.

monday.com Ltd. (NASDAQ: MNDY) 3% LOWER; reported Q1 EPS of ($1.48), $0.46 worse than the analyst estimate of ($1.02). Revenue for the quarter came in at $108.5 million versus the consensus estimate of $101.22 million. monday.com Ltd. sees Q2 2022 revenue of $117-119 million, versus the consensus of $110.88 million.

Warby Parker (NYSE: WRBY) 2% LOWER; reported Q1 EPS of ($0.30), $0.31 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $153.2 million versus the consensus estimate of $154.05 million. Warby Parker sees FY2022 revenue of $650-660 million, versus the consensus of $657 million.

Nucor Corporation (NYSE: NUE) 2% LOWER; entered into an agreement with an affiliate of investment funds managed by Kohlberg Kravis Roberts & Co. L.P. to acquire C.H.I. Overhead Doors (C.H.I.), a leading manufacturer of overhead doors for residential and commercial markets in the United States and Canada. The transaction is valued at $3.0 billion, which represents approximately 13x C.H.I.'s estimated trailing twelve-month EBITDA at close

Today, CLEAR (NYSE: YOU) 2% HIGHER; announced that CLEAR's Board of Directors has authorized a share repurchase program pursuant to which the Company may purchase up to $100 million of its Class A Common Stock.

GameStop Corp. (NYSE: GME) 1% HIGHER; announced it has appointed Nir Patel to the role of Chief Operating Officer, effective May 31, 2022



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