Pre-Open Stock Movers 05/22: (EROC) (ABTL) (QURE) Higher; (ARO) (OTIC) (CVM) Lower (more...)

May 22, 2015 9:31 AM EDT
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Aeropostale (NYSE: ARO) 19.7% LOWER; reported Q1 EPS of ($0.56), $0.01 worse than the analyst estimate of ($0.55). Revenue for the quarter came in at $318.6 million versus the consensus estimate of $324.91 million. Comparable sales, including the e-commerce channel, for the first quarter decreased 11%, compared to a decrease of 13% for the corresponding 13-week period ended May 3, 2014. Aeropostale sees Q2 2015 EPS of ($0.60)-($0.52), versus the consensus of ($0.37).

Eagle Rock Energy Partners, L.P. (Nasdaq: EROC) 18% HIGHER; Vanguard Natural Resources (NASDAQ: VNR) and Eagle Rock Energy Partners, L.P. (Nasdaq: EROC) today announced that they have entered into an Agreement and Plan of Merger pursuant to which a subsidiary of Vanguard will merge into Eagle Rock for total consideration of $474 million in Vanguard common units and the assumption of Eagle Rock's net debt of $140 million as of March 31, 2015. As a result of the transaction, Eagle Rock will become a wholly-owned indirect subsidiary of Vanguard. The transaction, which has been approved by the boards of directors of both companies, will be a tax-free unit-for-unit transaction with an exchange ratio of 0.185 Vanguard common units per Eagle Rock common unit. The consideration to be received by Eagle Rock's unitholders is valued at $3.05 per Eagle Rock common unit based on Vanguard's closing price as of May 21, 2015, representing a 24% premium to Eagle Rock's closing price on May 21, 2015. Vanguard and Eagle Rock expect the transaction to close in the third quarter of 2015. The merger is subject to customary closing conditions, including the approval by both the Vanguard and Eagle Rock unitholders.

Otonomy (NASDAQ: OTIC) 17.9% LOWER; announced topline results from its Phase 2b trial evaluating OTO-104 in patients with unilateral Meniere's disease. The primary endpoint of the trial was reduction in vertigo frequency during Month 3 following treatment compared to a one month baseline period. In the topline analysis, OTO-104 demonstrated a 61% reduction from baseline in vertigo frequency in Month 3 vs. 43% for placebo with a p value of 0.067, which narrowly missed achieving statistical significance. In addition to Month 3, a similar positive trend was also observed during Month 2 following treatment.

CEL-SCI Corp (NYSE: CVM) 15.3% LOWER; announced that it has priced a best efforts offering of common stock and warrants at a combined price of $0.79 per unit of securities for aggregate gross proceeds of up to $16 million, prior to deducting placement agent commissions and offering expenses. Each unit consists of one share of common stock and one warrant to purchase one share of common stock. The common stock and warrants will separate immediately. The warrants are immediately exercisable, expire in five-years and have an exercise price of $0.79 per share. This offering is expected to close on or about May 28, 2015, subject to the satisfaction of customary closing conditions.

Autobytel (NASDAQ: ABTL) 14.4% HIGHER; has acquired Dealix Corporation and Autotegrity, Inc. (wholly-owned subsidiaries of CDK Global, LLC), for $25 million. Autobytel's guidance for fiscal 2015 has been revised upward with revenues now expected to range between $128.0 million and $132.0 million, representing an increase of approximately 20% to 24% from 2014. The company also now expects non-GAAP diluted EPS in fiscal 2015 to range between $1.21 and $1.27, an increase of approximately 46% to 53%. *** The Street sees FY15 revenue of $116.6 million and EPS of $1.10.

Viggle Inc. (Nasdaq: VGGL) 14.2% LOWER; announced the pricing of its previously announced underwritten public offering of 3,626,179 shares of its common stock at a public offering price of $2.50 per share, resulting in gross proceeds of approximately $9,065,447.

uniQure BV (NASDAQ: QURE) 5.8% HIGHER; Oppenheimer initiated coverage with an Outperform rating and a price target of $47.00.

StemCells (NASDAQ: STEM) 4.4% HIGHER; Cantor Fitzgerald initiated coverage with a Buy rating and a price target of $2.00.

Cellectis (NASDAQ: CLLS) 4.1% HIGHER; Oppenheimer initiated coverage with an Outperform, $65 PRICE TARGET.

Foot Locker (NYSE: FL) 3.1% HIGHER; reported Q1 EPS of $1.29, $0.07 better than the analyst estimate of $1.22. Revenue for the quarter came in at $1.92 billion versus the consensus estimate of $1.91 billion. First quarter comparable-store sales increased 7.8 percent. Gross margin improved 4 basis points to 35.0 percent.

Deere & Co. (NYSE: DE) 2.9% HIGHER; reported Q2 EPS of $2.03, $0.47 better than the analyst estimate of $1.56. Revenue for the quarter came in at $8.17 billion versus the consensus estimate of $7.53 billion.

Hibbett Sports (NASDAQ: HIBB) 2.9% LOWER; reported Q1 EPS of $1.09, $0.04 worse than the analyst estimate of $1.13. Revenue for the quarter came in at $269.8 million versus the consensus estimate of $274.24 million. Comparable store sales decreased 0.9%. Hibbett Sports sees FY2015 EPS of $2.95-$3.04, versus the consensus of $3.03.

Marvell Technology Group Ltd. (NASDAQ: MRVL) 2.6% LOWER; reported Q1 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $724 million versus the consensus estimate of $733.35 million. Marvell Technology sees Q2 2016 EPS of $0.10-$0.12, versus the consensus of $0.16. Marvell Technology sees Q2 2016 revenue of $710-740 million, versus the consensus of $784.3 million. In addition, Mike Rashkin has expressed his intention to retire as chief financial officer, a role that he has held since December 2013. Mr. Rashkin served the Company in a variety of senior roles since 1999 and has been a key contributor to the success of the company since its formation. Mr. Rashkin's retirement will be effective May 22, 2015.

Mentor Graphics (NASDAQ: MENT) 2.6% HIGHER; reported Q1 EPS of $0.28, $0.10 better than the analyst estimate of $0.18. Revenue for the quarter came in at $272.1 million versus the consensus estimate of $260.83 million. Mentor Graphics sees Q2 2015 EPS of $0.14, versus the consensus of $0.24. Mentor Graphics sees Q2 2015 revenue of $250 million, versus the consensus of $269.60 million. Mentor Graphics sees FY2015 EPS of $1.88, versus the consensus of $1.86. Mentor Graphics sees FY2015 revenue of $1.282 billion, versus the consensus of $1.28 billion.

PTC Therapeutics, Inc. (NASDAQ: PTCT) 2.3% HIGHER; announced that the Benefit Assessment by Germany's Federal Joint Committee (G-BA) indicated that Translarna (ataluren) provided a benefit for ambulatory patients aged five years and older with nonsense mutation Duchenne Muscular Dystrophy (nmDMD). The G-BA came to the decision that the existing clinical data package presented by PTC provided convincing evidence for the demonstration of a clinically meaningful added benefit. PTC received a 3 in the rating system established under the German pharmaceutical law.

BlackBerry (NASDAQ: BBRY) 1.9% HIGHER; announced that its Board of Directors has authorized a share repurchase program to purchase for cancellation up to 12 million BlackBerry common shares, or approximately 2.6% of the outstanding public float. BlackBerry can purchase the common shares over the Nasdaq Stock Market or, subject to regulatory approval, on the Toronto Stock Exchange (the "TSX") or other markets. In the past 12 months, BlackBerry has not repurchased any of its outstanding securities.

Hewlett-Packard (NYSE: HPQ) 1.1% HIGHER; reported Q2 EPS of $0.87, $0.01 better than the analyst estimate of $0.86. Revenue for the quarter came in at $25.5 billion versus the consensus estimate of $25.68 billion.

Intuit (NASDAQ: INTU) 0.8% HIGHER; reported Q3 EPS of $2.85, $0.12 better than the analyst estimate of $2.73. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.14 billion.



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