Pre-Open Stock Movers 06/24: Zendesk Surges on Surprise Deal; LendingTree Falls on Lower Outlook (More...)

June 24, 2022 9:30 AM EDT

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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Special Reports

Related Entities

Hellman & Friedman LLC, Barclays, Twitter, Permira, Wells Fargo, Pre-Open Losers, Pre-Open Winners, Pre Market Movers, FDA