Pre-Open Stock Movers 06/01: (OEG) (CLDR) (AMC) Higher; (ABT) (ZIM) (FFIV) Lower (more...)

Pre-Open Stock Movers:

Orbital Energy Group, Inc. (NASDAQ: OEG) 64.5% HIGHER; announced that its recently acquired subsidiary, Gibson Technical Services, has been awarded a project for approximately 700-miles of engineering and construction turnkey services across Central Mississippi (the "Project") to be completed over the next four years for TEC of Jackson, Inc., dba: TEC.

Cloudera, (NYSE: CLDR) 23.9% HIGHER; confirmed that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice ("CD&R") and KKR in an all cash transaction valued at approximately $5.3 billion. The transaction will result in Cloudera becoming a private company and is expected to close in the second half of 2021.

Vertex Energy (NASDAQ: VTNR) 23.4% HIGHER; adds to last week's momentum. Stifel analyst Mike Hoffman raised the price target on Vertex Energy (NASDAQ: VTNR) to $17.00 (from $2.00) while maintaining a Buy rating, saying they value legacy VNTR at $2 and the addition of the Shell refinery with 14K BPD of renewable diesel another $15.

AMC (NYSE: AMC) 21.3% HIGHER; confirmed that it entered into an agreement to raise $230.5 million of cash from the sale of equity to Mudrick Capital Management, L.P. in exchange for 8.5 million shares of AMCs Class A Common stock. The equity was raised at a price of approximately $27.12 per share. The cash proceeds from this share sale primarily will be used for the pursuit of value creating acquisitions of additional theatre leases, as well as investments to enhance the consumer appeal of AMCs existing theatres. In addition, with these funds in hand, AMC intends to continue exploring deleveraging opportunities.

Alkermes plc (Nasdaq: ALKS) 5.5% HIGHER; today announced that the U.S. Food and Drug Administration (FDA) has approved LYBALVI (olanzapine and samidorphan) for the treatment of adults with schizophrenia and for the treatment of adults with bipolar I disorder, as a maintenance monotherapy or for the acute treatment of manic or mixed episodes, as monotherapy or an adjunct to lithium or valproate. LYBALVI is a once-daily, oral atypical antipsychotic composed of olanzapine, an established antipsychotic agent, and samidorphan, a new chemical entity.

Abbott (NYSE: ABT) 4.6% LOWER; now projects full-year 2021 diluted EPS from continuing operations under Generally Accepted Accounting Principles (GAAP) of $2.75 to $2.95 and full-year adjusted diluted EPS from continuing operations of $4.30 to $4.50, reflecting strong, double-digit growth versus the prior year. (*Consensus sees FY21 ESP of $5.04).

American Financial Group (NYSE: AFG) 4.4% HIGHER; declared a special dividend of $14.00 per share. The dividend will be payable on June 15, 2021, to stockholders of record on June 8, 2021, with an ex-dividend date of June 7, 2021. The annual yield on the dividend is 10.5 percent.

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) 4.3% LOWER; announced today the launch of a secondary offering of 6,730,583 ordinary shares to be sold by certain selling shareholders of the Company.

F5 Networks (NASDAQ: FFIV) 4.3% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $165.00 (from $191.00).

Kirkland's (NASDAQ: KIRK) 3.5% HIGHER; reported Q1 EPS of $0.12, $0.13 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $123.6 million versus the consensus estimate of $128.01 million.

Boeing (NYSE: BA) 2.2% HIGHER; Cowen upgraded to Outperform from Market Perform.

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