Pre-Open Stock Movers 06/18: (CAI) (SKKE) (GERN) Higher; (ORPH) (ATHA) (CGRN) Lower (more...)
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Pre-Open Stock Movers
CAI International, Inc. (NYSE: CAI) 46.2% HIGHER; entered into a definitive agreement to be acquired by Mitsubishi HC Capital Inc.. Under the terms of the merger agreement with MHC, MHC will acquire all of CAIs outstanding and fully diluted common stock in an all-cash transaction for $56.00 per share, which represents a total equity value of approximately $1.1 billion, consisting of $104 million (par value) of preferred stock and $986 million of common stock equity value, assuming a fully-diluted share count of 17.6 million based on the treasury stock method, and an enterprise value of $2.9 billion, based on balance sheet information included in the Companys most recent Quarterly Report on Form 10-Q as of March 31, 2021.
Orphazyme A/S (NASDAQ: ORPH) 45.6% LOWER; announced it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) following its review of the new drug application for arimoclomol, a heat shock protein amplifier intended for the treatment of Niemann-Pick disease type C (NPC).
Athira Pharma, Inc. (NASDAQ: ATHA) 42.5% LOWER; announced that Mark Litton, PhD, MBA, in his capacity as Chief Operating Officer, has assumed day-to-day leadership responsibilities for the Company, effective immediately. This follows the Board’s determination to place Leen Kawas, PhD, President and Chief Executive Officer of Athira, on temporary leave pending a review of actions stemming from doctoral research Dr. Kawas conducted while at Washington State University. Dr. Kawas will remain on the Board. The Board has formed an independent special committee to undertake this review. The Company does not intend to comment further on this matter until the review has concluded.
Sykes Enterprises, Incorporated (NASDAQ: SYKE) 30% HIGHER; announced they have entered into a definitive merger agreement in which Sitel Group, through a wholly owned subsidiary, will acquire all of SYKES outstanding shares of common stock at a purchase price of $54 per share in a transaction valued at approximately $2.2 billion on a fully diluted basis. The purchase price represents a premium of 31.2% over SYKES closing price on June 17, 2021, and a premium of 29.1% over the 30-day volume-weighted average price of SYKES common stock.
Capstone Green Energy Corporation (NASDAQ: CGRN) 26.4% LOWER; announced that it has entered into an underwriting agreement with H.C. Wainwright & Co. under which the underwriter has agreed to purchase on a firm commitment basis 952,380 shares of common stock of the Company at a price to the public of $5.25 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about June 22, 2021, subject to satisfaction of customary closing conditions.
Geron Corporation (Nasdaq: GERN) 18.4% HIGHER; announced the publication of data from the IMbark Phase 2 clinical trial in the Journal of Clinical Oncology in a paper entitled, Randomized, Single-Blind, Multicenter Phase II Study of Two Doses of Imetelstat in Relapsed or Refractory Myelofibrosis. The publication highlights the clinical benefits observed in the study, including symptom response and overall survival, as well as the evidence of disease-modifying activity from biomarker and bone marrow fibrosis assessments.
Arrival (NASDAQ: ARVL) 11.4% LOWER; announced that its registration statement on Form F-1 was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on June 17, 2021. Such declaration does not imply that the SEC has approved or opined on the merits of the offering.
Crinetics (NASDAQ: CRNX) 6% HIGHER; JPMorgan upgraded from Overweight to Overweight with a price target of $28.00 (from $22.00).
CuriosityStream Inc. (NASDAQ: CURI) 6.1% LOWER; BofA Securities downgraded from Buy to Underperform with a price target of $14.00.
GEO Group (NYSE: GEO) 5.6% HIGHER; CEO, George Zoley, bought 166,644 shares on 06/15 at $6.75. The size of the purchase was $1.12 million.
Magnolia Oil (NYSE: MGY) 3.8% LOWER; Top Holder Enervest is Said to Offer 7.6M Shares - Bloomberg
Ares Commercial Real Estate Corporation (NYSE: ACRE) 3.6% LOWER; announced the launch of an underwritten public offering of 6,500,000 shares of common stock. The Company expects to grant to the underwriters of the offering an option to purchase up to 975,000 additional shares of common stock.
Smith & Wesson Brands (NASDAQ: SWBI) 3.1% HIGHER; reported Q4 EPS of $1.71, $0.69 better than the analyst estimate of $1.02. Revenue for the quarter came in at $322.9 million versus the consensus estimate of $259.8 million.
Scorpio Tankers Inc. (NYSE: STNG) 3% HIGHER; announced that the President of the Company, Robert Bugbee, has purchased call options on an aggregate of 100,000 common shares (or 1,000 call option contracts) of the Company for total consideration of $305,000. The call option contracts have a strike price of $23.00 and an expiration of January 2022.
Adobe Systems (NASDAQ: ADBE) 2.8% HIGHER; reported Q2 EPS of $3.03, $0.22 better than the analyst estimate of $2.81. Revenue for the quarter came in at $3.84 billion versus the consensus estimate of $3.73 billion. Adobe Systems sees Q3 2021 EPS of $3.00, versus the consensus of $2.89. Adobe Systems sees Q3 2021 revenue of $3.88 billion, versus the consensus of $3.83 billion.
Veritone (NASDAQ: VERI) 2% LOWER; Files $300M Mixed Security Shelf
UiPath (NYSE: PATH) 1% LOWER; Block of 1.5M Shares Said Offered Via Morgan Stanley at $69.30-$69.75 - Bloomberg
United States Steel Corporation (NYSE: X) 1% HIGHER; today provided second quarter 2021 guidance. Second quarter 2021 adjusted EBITDA is expected to be approximately $1.2 billion. Second quarter 2021 adjusted net income is expected to be approximately $880 million and excludes impacts primarily related to certain restructuring and asset impairment charges. The Company expects second quarter 2021 adjusted diluted earnings per share to be approximately $3.08. (*Consensus sees Q2 EPS of $2.67)
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