Pre-Open Stock Movers 06/24: (MRIN) (RCUS) (LLY) Higher; (PRTG) (RAD) (BIIB) Lower (more...)

June 24, 2021 9:26 AM EDT

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Today's Pre-Open Stock Movers:

Marin Software (NASDAQ: MRIN) 76% HIGHER; added the ability to manage Instacart Ads to its flagship MarinOne platform. This integration makes it easier for brands to connect with customers directly at the point of sale.

DHI Group, Inc. (NYSE: DHX) 15.4% HIGHER; authorized a stock repurchase program that permits the additional purchase of up to $12 million of the Company's common stock, increasing the overall share buyback program to $20 million. In February 2021, the Board of Directors authorized the purchase of $8 million of its common stock and, under the plan, the Company has purchased approximately $1.3 million of its stock to date. With this additional authorization, the Company now has $18.7 million of buyback capacity.

Portage Biotech Inc. (NASDAQ: PRTG) 23.3% LOWER; commenced an underwritten public offering of its ordinary shares. In addition, Portage expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of the ordinary shares sold in connection with the offering. All of the ordinary shares in the offering are to be sold by Portage. This offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Arcus Biosciences, Inc. (NYSE: RCUS) 19% HIGHER; announced that, at the first interim analysis of the three-arm randomized Phase 2 ARC-7 study, both arms with domvanalimab-based combinations showed encouraging clinical activity (measured by overall response rate; ORR) when given as an initial treatment (first-line) to people with metastatic, PD-L150% non-small cell lung cancer (NSCLC). The zimberelimab monotherapy arm showed activity similar to that of marketed anti-PD-1 antibodies studied by other companies in this setting. At the time of data cut off, no unexpected safety signals were observed; and the current safety profile for each arm of the study appears to be consistent with known immune checkpoint inhibitors in this setting. All three arms of the ARC-7 trial, and the ongoing ARC-10 Phase 3 registrational study, will continue to enroll as planned; and ARC-7 data will be submitted later this year for presentation at a medical conference.

Rite Aid (NYSE: RAD) 13% LOWER; reported Q1 EPS of $0.38, $0.16 better than the analyst estimate of $0.22. Revenue for the quarter came in at $6.16 billion versus the consensus estimate of $6.13 billion. Rite Aid sees FY2022 EPS of ($0.79)-($0.24), versus the consensus of $0.80. Rite Aid sees FY2022 revenue of $25.1-25.5 billion, versus the consensus of $24.66 billion.

Sprinklr (NYSE: CXM) 9% HIGHER; shares are up following its NYSE debut Wednesday when it rose 10% after a weak start.

Eli Lilly and Company's (NYSE: LLY) 7.2% HIGHER; The U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation for donanemab, Eli Lilly and Company's (NYSE: LLY) investigational antibody therapy for Alzheimer's disease (AD). The Breakthrough Therapy designation aims to expedite the development and review of drugs that are intended to treat a serious condition when preliminary clinical evidence indicates that the drug may demonstrate substantial improvement on a clinically significant endpoint(s) over already available therapies that have received full FDA approval.

Biogen (NASDAQ: BIIB) 6.5% LOWER; Lilly's donanemab receives FDA's Breakthrough Therapy designation for treatment of Alzheimer's disease.

Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS) 6.2% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to cinrebafusp alfa (PRS-343), a 4-1BB/HER2 bispecific, for the treatment of HER2-high and HER2-low expressing gastric cancers.

Talos Energy Inc. (NYSE: TALO) 6.2% LOWER; announced today an underwritten public offering of an aggregate of 5,000,000 shares of its common stock (the "Offering") by certain affiliates of Apollo Global Management and Riverstone Holdings LLC (the "Selling Stockholders"). Talos is not selling any shares of common stock in the Offering and will not receive any proceeds from any sale of shares by the Selling Stockholders.

Bed Bath & Beyond (NASDAQ: BBBY) 6% HIGHER; BofA Securities upgraded from Neutral to Buy with a price target of $38.00.

Steelcase (NYSE: SCS) 5.2% HIGHER; reported Q1 EPS of ($0.24), $0.07 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $566.6 million versus the consensus estimate of $554.8 million. Steelcase sees Q2 2021 EPS of $0.25-$0.30, versus the consensus of $0.22. Steelcase sees Q2 2021 revenue of $750-780 million, versus the consensus of $704 million.

PLBY Group, Inc. (NASDAQ: PLBY) 4.5% HIGHER; Stifel initiates coverage with a Buy rating and a price target of $52.00.

Lightening eMotors (NYSE: ZEV) 4.2% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $15.00.

KB Home (NYSE: KBH) 3.8% LOWER; reported Q2 EPS of $1.50, $0.19 better than the analyst estimate of $1.31. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.5 billion.

Intrepid Potash (NYSE: IPI) 3.2% HIGHER; Increases Potash Price by $90; Trio® Price by $35

Broadstone Net Lease, Inc. (NYSE: BNL) 2.6% LOWER; announced that it has commenced an underwritten public offering of 10,000,000 shares of its common stock.

MGM Resorts (NYSE: MGM) 2.4% HIGHER; Deutsche Bank upgraded from Hold to Buy with a price target of $54.00 (from $42.00).

Beyond Meat Inc. (NASDAQ: BYND) 1.5% LOWER; JPMorgan analyst Ken Goldman reiterated an Underweight rating on Beyond Meat Inc. (NASDAQ: BYND), saying based on their checks Dunkin’ recently discontinued the Beyond Sausage breakfast sandwich.



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