Close

Pre-Open Stock Movers 07/08: (ARPO) (GAN) (GAME) Higher; (MSTR) (RIOT) (DIDI) Lower (more...)

July 8, 2021 9:25 AM EDT

Pre-Open Stock Movers:

Aerpio Pharmaceuticals (NASDAQ: ARPO) 42.7% HIGHER; H.C. Wainwright upgraded from Neutral to Buy with a price target of $22.00.

GAN Limited (NASDAQ: GAN) 18.6% HIGHER; announced strong preliminary results for the second quarter of 2021 driven by its new Business-to-Consumer (“B2C”) segment, which comprises Coolbet. Based on preliminary financial results, the Company currently expects to report second quarter revenue of $34.0 million to $35.0 million and positive Adjusted EBITDA ranging from $3.0 million to $7.0 million, as higher than expected revenue more than offset strategic investments in talent and technology. The Company is also increasing full year revenue guidance to a range of $125 million to $135 million. (Consensus sees Q2 revenue of $24 million)

Engine Media Holdings, Inc. (NASDAQ: GAME) 14.5% HIGHER; announced that its Winview Inc. subsidiary has commenced an action in the United States District Court for the District of New Jersey against DraftKings Inc. (NASDAQ: DKNG), alleging infringement of patents owned by Winview. The Company is being represented in this matter by Morgan Chu of Irell & Manella, LLP and Thomas R. Curtin of McElroy, Deutsch, Mulvaney & Carpenter, LLP.

Geospace Technologies (NASDAQ: GEOS) 12.3% HIGHER; acquired 100 percent of the outstanding shares of Aquana, LLC, a comprehensive wireless water monitoring and control system provider. Under terms of the agreement, Aquana will operate as a wholly owned subsidiary of Geospace Technologies. The Company intends to retain Aquanas employees, further strengthening Geospaces highly skilled technical workforce. Terms of the transaction include an initial cash payment of $1.4 million at closing, subject to adjustment, and additional contingent cash payments over a six-year earn-out period. The contingent cash payments will be derived from revenues generated during the earn-out period from products and services sold by Aquana, LLC.

WD-40 Co. (NASDAQ: WDFC) 12.1% HIGHER; reported Q3 EPS of $1.52, $0.37 better than the analyst estimate of $1.15. Revenue for the quarter came in at $136.4 million versus the consensus estimate of $108.33 million.

SeaSpine Holdings Corporation (NASDAQ: SPNE) 11.5% HIGHER; announced the FDA 510(k) clearance of its 7D Percutaneous Spine Module for minimally invasive surgery. This represents a new application and increased functionality for its 7D Flash Navigation System. This news follows SeaSpines recent acquisition of 7D Surgical, a Toronto-based company that develops advanced optical technologies and machine vision-based registration algorithms for surgical navigation to improve patient care. The Company is preparing a limited release of the Percutaneous Spine Module in the third quarter.

MicroStrategy (NASDAQ: MSTR) 6.7% LOWER; bitcoin lower

Riot Blockchain (NASDAQ: RIOT) 6.7% LOWER; bitcoin lower

Marathon Digital Holdings (NASDAQ: MARA) 6.3% LOWER; bitcoin lower

DiDi Global Inc. (NASDAQ: DIDI) 5% LOWER; losses mount on continued China regulatory scrutiny.

Coinbase (NASDAQ: COIN) 4.8% LOWER; bitcoin lower

D.R. Horton (NYSE: DHI) 3.9% LOWER; RBC Capital downgraded from Outperform to Sector Perform with a price target of $101.00 (from $104.00).

TRI Pointe Homes (NYSE: TPH) 3.9% LOWER; RBC Capital downgraded from Sector Perform to Underperform with a price target of $22.00.

Vista Gold Corp. (NYSE: VGZ) 3.3% LOWER; entered into an underwriting agreement with a syndicate of underwriters with H.C. Wainwright & Co. acting as sole book-running manager and representative of the underwriters, under which the underwriters have agreed to purchase in a public offering on a firm commitment basis 7,272,728 units of the Company (the Units) at a public offering price of US$1.10 per Unit, less underwriting discounts and commissions, for aggregate gross proceeds of approximately US$8,000,000 (the Offering). Each Unit consists of one common share in the capital of the Company (each, a Common Share) and one-half of one Common Share purchase warrant (each whole warrant, a Warrant). Each Warrant will be exercisable immediately upon issuance for thirty six months and entitle the holder thereof to purchase one Common Share upon exercise at an exercise price of US$1.25 per Common Share.

Overstock.com (NASDAQ: OSTK) 3.1% HIGHER; Needham & Company initiates coverage with a Buy rating and a price target of $150. Also, adds the stock to its Conviction List.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Special Reports

Related Entities

Needham & Company, RBC Capital, Earnings, Pre-Open Losers, Pre-Open Winners, Definitive Agreement, Pre Market Movers, H.C. Wainwright, FDA