Pre-Open Stock Movers 08/30: (VRA) (MZOR) (HIMX) Higher; (OTIC) (DY) (CHS) Lower (more...)

August 30, 2017 9:22 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Today's Pre-Open Stock Movers

Otonomy (NASDAQ: OTIC) 82.7% LOWER; AVERTS-1 Phase 3 clinical trial of OTIVIDEX in patients with Ménière’s disease missed its primary endpoint.

Dycom Industries (NYSE: DY) 14.4% LOWER; reported Q4 EPS of $1.47, $0.03 better than the analyst estimate of $1.44. Revenue for the quarter came in at $780.19 million versus the consensus estimate of $798.46 million.

Vera Bradley (NASDAQ: VRA) 10.4% HIGHER; reported Q2 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $112.4 million versus the consensus estimate of $111.72 million.

Chicos FAS (NYSE: CHS) 8.7% LOWER; reported Q2 EPS of $0.18, $0.03 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $578.58 million versus the consensus estimate of $579.34 million. For fiscal 2017, the Company anticipates comparable sales to be down high single-digits with gross margin rate decreasing by approximately 75 to 100 basis points. The fiscal 2017 53rd week is not included in the comparable sales calculation. Net sales for the 53rd week are expected to approximate $30 million. The Company anticipates SG&A expense will be down approximately $50 to $60 million compared to last year.

Mazor Robotics Ltd. (NASDAQ: MZOR) 7% HIGHER; announced that it has entered the next phase of its strategic partnership with Medtronic (NYSE: MDT) earlier than planned and their existing agreements have been amended accordingly. The agreements provide for the conversion of the commercial relationship between the parties, with Medtronic assuming exclusive worldwide distribution of the Mazor X system, and Medtronic making a $40 million third tranche investment in Mazor. These developments are a result of the early achievement of certain sales and marketing milestones by both companies, as well as higher than expected global market acceptance and demand for the Mazor X system. Medtronic and Mazor originally entered into a strategic agreement in May 2016.

Himax Technologies, Inc. (NASDAQ: HIMX) 5% HIGHER; Qualcomm Incorporated (NASDAQ: QCOM) and its subsidiary Qualcomm Technologies, Inc., and Himax Technologies, Inc. (NASDAQ: HIMX), today jointly announced a collaboration to accelerate the development and commercialization of a high resolution, low power active 3D depth sensing camera system to enable computer vision capabilities for use cases such as biometric face authentication, 3D reconstruction, and scene perception for mobile, IoT, surveillance, automotive and AR/VR.

Analog Devices (NASDAQ: ADI) 4.3% HIGHER; reported Q3 EPS of $1.26, $0.11 better than the analyst estimate of $1.15. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.4 billion. GUIDANCE: Analog Devices sees Q4 2017 EPS of $1.29-$1.43, versus the consensus of $1.24. Analog Devices sees Q4 2017 revenue of $1.45-1.55 billion.

Universal Display (NASDAQ: OLED) 3% HIGHER; Deutsche Bank initiates coverage with a Buy rating and a price target of $135.00

CIENA (NYSE: CIEN) 2.6% HIGHER; Citi upgraded from Neutral to Buy with a price target of $29.00.

DryShips Inc. (NASDAQ: DRYS) 2% LOWER; announced that it intends to launch its previously announced rights offering (the "Rights Offering") of shares of common stock, par value $0.01 per share ("Common Stock"). The Rights Offering is expected to be made through the pro-rata distribution of non-transferrable subscription rights to purchase, in the aggregate, up to 36,363,636 shares of Common Stock at a subscription price of $2.75 per share, to shareholders of the Company on August 31, 2017 (the "Record Date"), resulting in gross proceeds of up to $100 million.



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

You May Also Be Interested In





Related Categories

Special Reports

Related Entities

Deutsche Bank, Citi, S1, Pre-Open Losers, Pre-Open Winners, Pre Market Movers