Pre-Open Stock Movers 06/23: Snowflake Gains on Upgrade, Accenture Falls Post Earnings (more...)

Pre-Open Stock Movers:

F-star Therapeutics, Inc. (NASDAQ: FSTX) 67% HIGHER; invoX Pharma (invoX), a wholly owned subsidiary of Sino Biopharmaceutical Limited, will acquire all of the issued and outstanding shares of F-star common stock for $7.12 per share.

Radius Health, Inc. (Nasdaq: RDUS) 15% HIGHER; entered into a definitive agreement to be acquired by Gurnet Point Capital and Patient Square Capital in a transaction valued at approximately $890 million

Xenon Pharmaceuticals Inc. (Nasdaq: XENE) 12% LOWER; announced the pricing of its underwritten public offering of 7,868,854 common shares and, in lieu of common shares to certain investors, pre-funded warrants to purchase up to 327,868 common shares pursuant to its existing shelf registration statement

Funko (NASDAQ: FNKO) 7% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $28.00 (from $25.00).

Snowflake Inc. (NYSE: SNOW) 6% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $165.00.

KB Home (NYSE: KBH) 4% HIGHER; reported Q2 EPS of $2.32, $0.32 better than the analyst estimate of $2.00. Revenue for the quarter came in at $1.72 billion versus the consensus estimate of $1.61 billion. Reaffirms outlook.

Occidental Petroleum (NYSE: OXY) 3% HIGHER; Warren Buffett's Berkshire Hathaway buys another $500 million+ in stock.

Veeva Systems (NYSE: VEEV) 3% HIGHER; Goldman Sachs initiates coverage with a Buy rating and a price target of $253.00.

Accenture (NYSE: ACN) 2% LOWER; reported Q3 EPS of $2.79, $0.12 better than the analyst estimate of $2.67. Revenue for the quarter came in at $16.2 billion versus the consensus estimate of $14.97 billion. Accenture updates business outlook for fiscal 2022; raises full-year revenue growth to 25.5% to 26.5% in local currency; continues to expect operating margin of 15.2% and free cash flow of $8.0 billion to $8.5 billion; updates EPS to $10.61 to $10.70; and now expects foreign-exchange impact of negative 4.5%

eBay (NASDAQ: EBAY) 2% LOWER; Morgan Stanley assumes coverage on with an Underweight rating and a price target of $36.00.

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