Pre-Open Stock Movers 07/21: (CEMI) (LE) (SDC) Higher; (SNBR) (FOUR) (MGTA) Lower (more...)

July 21, 2021 9:20 AM EDT

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Pre-Open Stock Movers

Chembio Diagnostics, Inc. (Nasdaq: CEMI) 92.7% HIGHER; announced its receipt today of a $28.3 million purchase order from Bio-Manguinhos for the purchase of Chembios DPP SARS-CoV-2 Antigen tests for delivery during 2021 to support the urgent needs of Brazils Ministry of Health in addressing the COVID-19 pandemic. The DPP SARS-CoV-2 Antigen test is designed to detect the SARS-CoV-2 antigen, which indicates an active COVID-19 infection, in only 20 minutes using a minimally invasive nasal swab. Chembios delivery of the full number of tests covered by the purchase order may be affected by limitations of Chembios supply chain, staffing, and liquidity, and other matters outside Chembios control.

Sleep Number Corporation (NASDAQ: SNBR) 10.2% LOWER; reported Q2 EPS of $0.88, $0.19 worse than the analyst estimate of $1.07. Revenue for the quarter came in at $484.3 million versus the consensus estimate of $503.85 million. Sleep Number Corporation sees FY2021 EPS of $7.25.

Shift4 Payments, Inc, (NYSE: FOUR) 6.2% LOWER; announced that it intends to offer 1,791,818 shares of its Class A common stock for sale in an underwritten public offering (the Primary Offering). Certain entities associated with Searchlight Capital Partners, L.P. (the selling stockholders) also intend to offer 5,208,182 shares of Shift4s Class A common stock for sale in the offering (the Secondary Offering and, together with the Primary Offering, the Offering). Shift4 also intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of Shift4s Class A common stock.

Magenta Therapeutics, Inc. (Nasdaq: MGTA) 5.3% LOWER; announced that it has received a clinical hold letter from the U.S. Food and Drug Administration (FDA) related to its Investigational New Drug Application (IND) filed in June 2021 to initiate a Phase 1/2 clinical trial of MGTA-117 in patients with acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

Smith Micro Software, Inc. (NASDAQ: SMSI) 4.6% LOWER; announced that Tim Huffmyer has informed the Company of his intention to resign as Chief Financial Officer (CFO) to pursue an opportunity with another company.

Lands' End, Inc. (NASDAQ: LE) 4.5% HIGHER; Net revenue to be between $380.0 million and $385.0 million, representing growth of between 21.8% and 23.4% compared to the Second Quarter of fiscal 2020. This is an increase from prior guidance of $345.0 million to $355.0 million.

SmileDirectClub, Inc. (Nasdaq: SDC) 4% HIGHER; announced that an en banc panel of the U.S. Court of Appeals for the Eleventh Circuit sided with the company, rejecting the Georgia Board of Dentistry's attempt to shield itself from antitrust liability through an interlocutory appeal. Both the Georgia Dental Board and the Alabama Dental Board sought immediate appeals of lower court decisions in SmileDirectClub's favor. SmileDirectCub, issued the following statement from Susan Greenspon Rammelt, SmileDirectClub's Chief Legal Officer and EVP of Business Affairs:

Qualtrics International (NASDAQ: XM) 3.8% HIGHER; reported Q2 EPS of ($0.51), $0.49 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $249.3 million versus the consensus estimate of $241.63 million. Qualtrics International sees Q3 2021 EPS of ($0.03)-($0.01). Qualtrics International sees Q3 2021 revenue of $257-259 million.

National Storage Affiliates Trust (NYSE: NSA) 3.8% HIGHER; announced that it has commenced an underwritten public offering of 8,000,000 common shares of beneficial interest of the Company. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares at the public offering price, less underwriting discounts.

Halliburton (NYSE: HAL) 3.8% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $26.00.

Intuitive Surgical (NASDAQ: ISRG) 3.1% HIGHER; reported Q2 EPS of $3.92, $0.86 better than the analyst estimate of $3.06. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.26 billion.

Coca Cola (NYSE: KO) 2.5% HIGHER; reported Q2 EPS of $0.68, $0.13 better than the analyst estimate of $0.55. Revenue for the quarter came in at $10.1 billion versus the consensus estimate of $9.25 billion.

Verizon Communications (NYSE: VZ) 2% HIGHER; reported Q2 EPS of $1.37, $0.08 better than the analyst estimate of $1.29. Revenue for the quarter came in at $33.8 billion versus the consensus estimate of $32.68 billion. Verizon Communications sees Q3 2021 EPS of $5.25-$5.35, versus prior of $5.00-$5.15 and the consensus of $5.12.

Natera, Inc. (Nasdaq: NTRA) 2% LOWER; announced the launch of a proposed follow-on public offering of $350,000,000 of shares of its common stock.

Electronic Arts (NASDAQ: EA) 1.5% HIGHER; Deutsche Bank upgraded from Hold to Buy with a price target of $175.00 (from $156.00).

Netflix (NASDAQ: NFLX) 0.2% HIGHER; reported Q2 EPS of $2.97, $0.18 worse than the analyst estimate of $3.15. Revenue for the quarter came in at $7.34 billion versus the consensus estimate of $7.32 billion. The company added 1.54 million net subs in the quarter. The company had expected 1 million net sub additions. For Q3, the company sees revenue of $7.477 billion and EPS of $2.55 versus the consensus of $7.48 billion and $2.17. The company sees 3.5 million net sub additions, below the consensus of roughly 5 million.



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