Pre-Open Stock Movers 07/13: (BFYT) (ALT) (TSLA) Higher; (CLSN) Lower (more...)
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- Roku (ROKU) Surges After Crushing Profit Estimates to Prompt an Upgrade to 'Buy' at Loop Capital
- Dollar broadly weaker after U.S. jobs data disappoint
- Square (SQ) Tops Q1 EPS by 25c
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Pre-Open Stock Movers
Celsion Corporation (NASDAQ: CLSN) 66.2% LOWER; announced that it has received a recommendation from the independent Data Monitoring Committee (DMC) to consider stopping the global Phase III OPTIMA Study of ThermoDox® in combination with radiofrequency ablation (RFA) for the treatment of hepatocellular carcinoma (HCC), or primary liver cancer.
Benefytt Technologies, Inc. (NASDAQ: BFYT) 37.5% HIGHER; announced that it has entered into a definitive agreement to be acquired by funds affiliated with Madison Dearborn Partners, LLC, a leading private equity firm based in Chicago that has deep experience in the insurance technology and health care industries. The all-cash transaction is structured as a tender offer of $31.00 per share that will commence in the coming days, followed immediately by a merger.
Altimmune, Inc. (Nasdaq: ALT) 21.6% HIGHER; announced positive results from the preclinical studies of its intranasal COVID-19 vaccine candidate, AdCOVID. The studies, which were conducted in collaboration with the University of Alabama at Birmingham (UAB), showed strong serum neutralizing activity and potent mucosal immunity in the respiratory tract. The induction of IgA antibody in the respiratory tract may be necessary to block both infection and transmission of the virus to prevent further spread of COVID-19. Based on these findings the Company plans to begin manufacturing of AdCOVID and advance the vaccine candidate to a Phase 1 safety and immunogenicity study in Q4 of this year.
Spartan Energy Acquisition Corp. (NYSE: SPAQ) 20.3% HIGHER; Fisker Inc. and Spartan Energy Acquisition Corp. (NYSE: SPAQ), a special purpose acquisition company sponsored by an affiliate of Apollo Global Management, Inc. (NYSE: APO), today announced they have entered into a definitive agreement for a business combination that would result in Fisker becoming a publicly listed company.
Maxim Integrated Products, Inc. (NASDAQ: MXIM) 14.8% HIGHER; Analog Devices, Inc. (NASDAQ: ADI) and Maxim Integrated Products, Inc. (NASDAQ: MXIM) today announced that they have entered into a definitive agreement under which ADI will acquire Maxim in an all stock transaction that values the combined enterprise at over $68 billion2. The transaction, which was unanimously approved by the Boards of Directors of both companies, will strengthen ADI as an analog semiconductor leader with increased breadth and scale across multiple attractive end markets.
Rigel Pharmaceuticals (NASDAQ: RIGL) 14.6% HIGHER; Citi analyst Yigal Nochomovitz reiterated a Buy rating and $7.00 price target on Rigel noting new evidence from MIT/Harvard that the company's Tavalisse may have a role in treating COVID-19 acute lung injury.
Workhorse Group Inc. (Nasdaq: WKHS) 14.3% HIGHER; Roth Capital analyst Craig Irwin raised the price target on Workhorse to a 'Street High' $27.00 (from $12.00) while maintaining a Buy rating.
Ideaya Biosciences (NASDAQ: IDYA) 7.9% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $28.00 (from $13.00).
Tesla, Inc. (NASDAQ: TSLA) 7.6% HIGHER; sees continued momentum
AMC Entertainment Holdings, Inc. (NYSE: AMC) 4.6% HIGHER; announced that it has entered into binding written agreements with an ad hoc group (Ad Hoc Group) of holders of some 73% of its approximately $2.3 billion in Senior Subordinated Notes to support an amendment launched Friday evening July 10th, 2020, to an exchange offer currently in the market, which would allow AMC to restructure a substantial majority of these debt securities on a consensual basis. The terms and conditions of the exchange offer were provided in a separate press release Friday. Separately, AMC has also reached agreement to restructure some $600 million of convertible notes issued in 2018 to Silver Lake.
PepsiCo (NASDAQ: PEP) 2.7% HIGHER; reported Q2 EPS of $1.32, $0.07 better than the analyst estimate of $1.25. Revenue for the quarter came in at $15.95 billion versus the consensus estimate of $15.34 billion.
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Related EntitiesJPMorgan, Citi, Roth Capital, Madison Dearborn Partners, Tesla, Pre-Open Losers, Pre-Open Winners, Definitive Agreement, Pre Market Movers
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