Pre-Open Stock Movers 06/24: Zendesk Surges on Surprise Deal; LendingTree Falls on Lower Outlook (More...)
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Pre-Open Stock Movers:
Zendesk, Inc. (NYSE: ZEN) 30% HIGHER; entered into a definitive agreement to be acquired by an investor group led by leading global investment firms Permira and Hellman & Friedman LLC (H&F) in an all-cash transaction that values Zendesk at approximately $10.2 billion. Under the terms of this agreement, Zendesk shareholders will receive $77.50 per share.
LendingTree, Inc. (NASDAQ: TREE) 7% LOWER; revised Q2 guidance. The company expects Q2 revenue to be in the range of $259 - $264 million, compared to the prior range of $283 - $293 million. The consensus was $287.2 million. Adjusted EBITDA is expected in the range of $26 - $29 million, compared to the prior range of $35 - $40 million.
Li Auto (NASDAQ: LI) 4% HIGHER; Orders for Li L9, its flagship smart SUV, have exceeded 30,000 in 72 hours since the vehicle was available for reservation. Shares are trading up over 4% up pre-market following the news.
Seagen Inc. (NASDAQ: SGEN) 3% HIGHER; takeover talks with Merck see progress.
FedEx (NYSE: FDX) 3% HIGHER; reported Q4 EPS of $6.87, $0.01 worse than the analyst estimate of $6.88. Revenue for the quarter came in at $24.4 billion versus the consensus estimate of $24.47 billion. FedEx sees 2023 EPS of $22.50-$24.50, versus the consensus of $22.41.
Sarepta Therapeutics, Inc. (NASDAQ: SRPT) 3% LOWER; U.S. Food and Drug Administration (FDA) placed a clinical hold on SRP-5051 (vesleteplirsen) for the treatment of Duchenne muscular dystrophy.
Becton Dickinson (NYSE: BDX) 2% HIGHER; Wells Fargo upgraded from Equal Weight to Overweight with a price target of $275.00.
Iron Mountain (NYSE: IRM) 2% HIGHER; Barclays initiates coverage with an Overweight rating and a price target of $58.00.
Twitter (NYSE: TWTR) 1% HIGHER; rumors that the social media company provided additional information to Elon Musk after the billionaire said he was unhappy with the data given to him on active users.
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Related EntitiesHellman & Friedman LLC, Barclays, Twitter, Permira, Wells Fargo, Pre-Open Losers, Pre-Open Winners, Pre Market Movers, FDA
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