Pre-Open Stock Movers 05/27: Dell, Ulta Surge on Earnings Beats; Gap Plunges (more...)

May 27, 2022 9:17 AM EDT

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Pre-Open Stock Movers:

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 47% LOWER; reported clinical results from its C-144-01 clinical study in patients with advanced (unresectable or metastatic) melanoma who progressed on prior anti-PD-1/L1 therapy, and if BRAF mutation positive, also on prior BRAF or BRAF/MEK inhibitor therapy.

ClearSign Technologies Corporation (Nasdaq: CLIR) 18% LOWER; announced the pricing of an underwritten public offering of 3,640,000 shares of its common stock at a price to the public of $1.11 per share.

Red Robin Gourmet Burgers (NASDAQ: RRGB) 19% HIGHER; reported Q1 EPS of ($0.12), $0.61 better than the analyst estimate of ($0.73). Revenue for the quarter came in at $380.6 million versus the consensus estimate of $381.18 million. Comparable restaurant revenue increased 19.7% compared to 2021.

Aurora Cannabis Inc. (NASDAQ: ACB) 15% LOWER; entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 51.1 million units of the Company, at a price of US$2.45 per Unit.

Gap, Inc. (NYSE: GPS) 15% LOWER; reported Q1 EPS of ($0.44), $0.33 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $3.5 billion versus the consensus estimate of $3.48 billion. Gap, Inc. sees FY2022 EPS of $0.30-$0.60, versus the consensus of $0.43.

Dell Technologies (NYSE: DELL) 11% HIGHER; reported Q1 EPS of $1.84, $0.44 better than the analyst estimate of $1.40. Revenue for the quarter came in at $26.1 billion versus the consensus estimate of $25.12 billion.

American Eagle Outfitters (NYSE: AEO) 11% LOWER; reported Q1 EPS of $0.16, $0.10 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.15 billion.

Workday (NASDAQ: WDAY) 9% LOWER; reported Q1 EPS of $0.83, $0.03 worse than the analyst estimate of $0.86. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.43 billion. Workday sees Q2 2023 revenue of $5.537-5.557 billion, versus the consensus of $6.2 billion. Workday sees FY2023 revenue of $1.353-1.355 billion, versus the consensus of $1.51 billion.

23andMe Holding Co. (NASDAQ: ME) 7% LOWER; reported Q4 EPS of ($0.16), $0.03 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $100.56 million versus the consensus estimate of $102.79 million.

Ulta Beauty (NASDAQ: ULTA) 7% HIGHER; reported Q1 EPS of $6.30, $1.83 better than the analyst estimate of $4.47. Revenue for the quarter came in at $2.35 billion versus the consensus estimate of $2.12 billion. Ulta Beauty sees FY2022 EPS of $19.20-$20.10, versus the consensus of $18.66. Ulta Beauty sees FY2022 revenue of $9.35-9.55 billion, versus the consensus of $9.18 billion.

Marvell Technology (NASDAQ: MRVL) 6% HIGHER; reported Q1 EPS of $0.52, $0.01 better than the analyst estimate of $0.51. Revenue for the quarter came in at $1.45 billion versus the consensus estimate of $1.43 billion. Marvell Technology sees Q2 2023 EPS of $0.53-$0.59, versus the consensus of $0.55. Net revenue is expected to be $1.515 billion +/- 3%.

Farfetch Limited (NYSE: FTCH) 5% HIGHER; reported Q1 EPS of ($0.24), $0.04 better than the analyst estimate of ($0.28). Revenue for the quarter came in at $514.8 million versus the consensus estimate of $560.3 million.

Boot Barn (NYSE: BOOT) 4% HIGHER; Baird upgraded from Neutral to Outperform with a price target of $115.

iQIYI (NASDAQ: IQ) 4% HIGHER; Benchmark upgraded from Hold to Buy with a price target of $7.00.

Costco (NASDAQ: COST) 1% LOWER; reported Q3 EPS of $3.04, $0.01 better than the analyst estimate of $3.03. Revenue for the quarter came in at $51.61 billion versus the consensus estimate of $51.71 billion.



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