Pre-Open Stock Movers 06/17: Revlon Surges on Possible Deal; Adobe Falls on Guidance (more...)

June 17, 2022 9:29 AM EDT

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Pre-Open Stock Movers:

Revlon (NYSE: REV) 65% HIGHER; Reliance Industries, an India-based conglomerate headed by Mukesh Ambani, is considering buying out , the Economic Times reported today.

Rhythm Pharmaceuticals (NASDAQ: RYTM) 14% LOWER; Confirmed the FDA has approved the Company’s supplemental New Drug Application (sNDA) for IMCIVREE® (setmelanotide), a melanocortin-4 receptor (MC4R) agonist, for patients with Bardet-Biedl syndrome (BBS). Also, the FDA issued a complete response letter for the sNDA for setmelanotide in Alström syndrome.

Alibaba (NYSE: BABA) 11% HIGHER; Ant Group’s application to set up a financial holding company has been approved by China’s central bank, Reuters report citing sources.

Global Cord Blood Corporation (NYSE: CO) 11% HIGHER; announce that Cellenkos, Inc. recently announced that the U.S. Food and Drug Administration has cleared its Investigational New Drug application to initiate a Phase 1b, open-label study of CK0804 as an add on therapy to ruxolitinib in patients with myelofibrosis who experience a suboptimal response to ruxolitinib.

Utz Brands (NYSE: UTZ) 9% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $16.00.

Utz Brands (NYSE: UTZ) 8% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $16.00.

United States Steel Corporation (NYSE: X) 6% HIGHER; adjusted EBITDA expected to be approximately $1.6 billion, representing a new all-time best Q2 performance. Adjusted EPS is expected to range from $3.83 to $3.88, versus the consensus of $3.20.

Adobe Systems (NASDAQ: ADBE) 3% LOWER; reported Q2 EPS of $3.35, $0.04 better than the analyst estimate of $3.31. Revenue for the quarter came in at $4.39 billion versus the consensus estimate of $4.34 billion. Adobe Systems sees Q3 2022 EPS of $3.33, versus the consensus of $3.40. Adobe Systems sees Q3 2022 revenue of $4.43 billion, versus the consensus of $4.51 billion. Adobe Systems sees FY2022 EPS of $13.50, versus the consensus of $13.66. Adobe Systems sees FY2022 revenue of $17.65 billion, versus the consensus of $17.85 billion

LAVA Therapeutics N.V. (Nasdaq: LVTX) 3% HIGHER; hosted a clinical update call focused on encouraging initial Phase 1/2a clinical data for LAVA-051 in patients with chronic lymphocytic leukemia (CLL) and multiple myeloma (MM) patients following poster presentations at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting held June 3-7, 2022, and the European Hematology Association (EHA) 2022 Congress, held June 9-12, 2022.

Targa Resources Corp. (NYSE: TRGP) 3% HIGHER; Agreed to acquire Lucid Energy Delaware, LLC from Riverstone Holdings LLC and Goldman Sachs Asset Management for $3.55 billion in cash.

Bausch Health Companies Inc. (NYSE: BHC) 2% HIGHER; Suspending IPO of Solta Medical.

Oasis Petroleum Inc. (NASDAQ: OAS) 1% HIGHER; announced today that its Board of Directors has, subject to certain conditions, declared a special dividend of $15.00 per share of Oasis common stock in connection with the Whiting Petroleum merger.

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