Pre-Open Stock Movers 07/23: (SCKT) (VNE) (ALZN) Higher; (EDU) (TAL) (GOTU) Lower (more...)

July 23, 2021 9:19 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Pre-Open Stock Movers

Socket Mobile (NASDAQ: SCKT) 118% HIGHER; reported Q2 EPS of $0.27, $0.24 better than the analyst estimate of $0.03. Revenue for the quarter came in at $6 million versus the consensus estimate of $4.07 million.

New Oriental Education (NYSE: EDU) 66% LOWER; China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to a report Bloomberg, citing people familiar with the matter.

TAL Education (NYSE: TAL) 65% LOWER; China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to a report Bloomberg, citing people familiar with the matter.

Gaotu Techedu (NYSE: GOTU) 62% LOWER; China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to a report Bloomberg, citing people familiar with the matter.

Veoneer (NYSE: VNE) 55.2% HIGHER; Magna International Inc. (NYSE: MGA) and Veoneer (NYSE: VNE) today announced that they have entered into a definitive merger agreement under which Magna will acquire Veoneer, a leader in automotive safety technology. Pursuant to the agreement, Magna will acquire all of the issued and outstanding shares of Veoneer for $31.25 per share in cash, representing an equity value of $3.8 billion, and an enterprise value of $3.3 billion, inclusive of Veoneers cash, net of debt and other debt-like items as of March 31, 2021.

Alzamend Neuro, Inc. (Nasdaq: ALZN) 35% HIGHER; announced that it has received positive toxicology results for AL002 in a good laboratory practices (“GLP”) toxicology study using a transgenic mouse model of Alzheimer’s disease. The study was conducted by Charles River Laboratories. AL002 is a patented method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine that seeks to restore the ability of a patient’s immunological system to combat Alzheimer’s.

NRx Pharmaceuticals (Nasdaq: NRXP) 28% HIGHER; adds to Thursday's 63% gains after it announced it has validated the first commercial formulation of ZYESAMI (aviptadil) for intravenous use, allowing for high volume manufacture, with an anticipated one year or greater stability, under appropriate storage conditions. Simultaneously, NRx has achieved a 30-to-50-fold increase in its manufactured lot size of aviptadil, with a concurrent 90% reduction in the cost of its peptide supply. These two developments position NRx to potentially deliver millions of doses of ZYESAMI as potential regulatory approvals are obtained in various regions worldwide.

AzurRx BioPharma, Inc. (NASDAQ: AZRX) 22.6% LOWER; announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 9,090,910 shares of common stock of the Company, at a price to the public of $0.55 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about July 27, 2021, subject to satisfaction of customary closing conditions.

OneSmart International Education Group (NYSE: ONE) 19% LOWER; China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to a report Bloomberg, citing people familiar with the matter.

Vinco Ventures, Inc. (NASDAQ: BBIG) 18.7% HIGHER; announce the closing of the Lomotif Private Limited acquisition, which owns the Lomotif short form video platform, through their joint venture entity ZVV Media. This acquisition makes ZVV Media, a subsidiary of Vinco Ventures Inc., one of the most powerful global short form media companies in the marketplace.

Boston Beer Co. (NYSE: SAM) 18.4% LOWER; reported Q2 EPS of $4.75, $2.10 worse than the analyst estimate of $6.85. Revenue for the quarter came in at $602.8 million versus the consensus estimate of $665.25 million.

Adverum Biotechnologies, Inc. (Nasdaq: ADVM) 16% LOWER; provided an update on the ADVM-022 development program following a thorough review of data available from the INFINITY clinical trial in patients with diabetic macular edema (DME) and the OPTIC clinical trial in patients with wet age-related macular degeneration (wet AMD). The data from the studies show marked differences in the safety profile between the two patient populations and between the low (2 x 10^11 vg/eye) versus high (6 x 10^11 vg/eye) doses. Adverum no longer plans future development for DME after a dose-limiting toxicity (DLT) not seen before in ocular gene therapy or anti-VEGF treatment has been observed at the high dose (6 x 10^11 vg/eye) in patients with DME. The company is planning to evaluate ADVM-022, a single intravitreal (IVT) injection gene therapy, at low doses (2 x 10^11 vg/eye and lower) and with alternative prophylactic regimens in a future Phase 2 clinical trial in wet AMD.

Snap (NYSE: SNAP) 16% HIGHER; reported Q2 EPS of $0.10, $0.11 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $982.1 million versus the consensus estimate of $844.98 million. Average monetizable daily active users (mDAU) were 206 million for Q2, compared to 186 million in the same period of the previous year and compared to 199 million in the previous quarter. Snap sees Q3 2021 revenue of $1.07-1.09 billion, versus the consensus of $1.01 billion.

AzurRx BioPharma, Inc. (NASDAQ: AZRX) 15.3% LOWER; entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase on a firm commitment basis 5,454,546 shares of common stock of the Company, at a price to the public of $0.55 per share, less underwriting discounts and commissions.

Clearfield, Inc. (NASDAQ: CLFD) 10.3% HIGHER; reported Q3 EPS of $0.44, $0.14 better than the analyst estimate of $0.30. Revenue for the quarter came in at $38.7 million versus the consensus estimate of $32.1 million. Clearfield, Inc. sees FY2021 revenue of $130-135 million, versus the consensus of $122.9 million.

Ocular Therapeutix, Inc. (NASDAQ: OCUL) 7.5% HIGHER; reported preliminary net product revenue for the quarter ended June 30, 2021, and in-market unit sales for June 2021. The Company is reporting preliminary second quarter 2021 total net product revenue of approximately $11.7 million, representing a greater than 600% year-over-year increase versus the second quarter 2020 and an approximately 60% sequential increase over the first quarter of 2021. Net product revenue of DEXTENZA® (dexamethasone ophthalmic insert) 0.4mg for the quarter ended June 30, 2021 is estimated to be $11.1 million, and net product revenue of ReSure® Sealant for the quarter ended June 30, 2021 is estimated to be $0.6 million. (*** consensus is $11.6 million)

Skechers USA (NYSE: SKX) 7.4% HIGHER; reported Q2 EPS of $0.88, $0.39 better than the analyst estimate of $0.49. Revenue for the quarter came in at $1.66 billion versus the consensus estimate of $1.48 billion. Skechers USA sees Q3 2021 EPS of $2.55-$2.65, versus the consensus of $2.10. Skechers USA sees Q3 2021 revenue of $6.15-6.25 billion, versus the consensus of $5.91 billion.

Twitter (NYSE: TWTR) 5% HIGHER; reported Q2 EPS of $0.20, $0.13 better than the analyst estimate of $0.07. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.06 billion. Average monetizable daily active users (mDAU) were 206 million for Q2, compared to 186 million in the same period of the previous year and compared to 199 million in the previous quarter. Twitter sees Q3 2021 revenue of $1.22-1.3 billion, versus the consensus of $1.17 billion.

Kimberly-Clark (NYSE: KMB) 3.9% LOWER; reported Q2 EPS of $1.47, $0.27 worse than the analyst estimate of $1.74. Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.78 billion. Kimberly-Clark sees FY2021 EPS of $6.65-$6.90, versus the consensus of $7.35.



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

You May Also Be Interested In





Related Categories

Special Reports

Related Entities

Twitter, Pre-Open Losers, Pre-Open Winners, Definitive Agreement, Pre Market Movers, H.C. Wainwright