Pre-Open Stock Movers 09/23: (CDOR) (BB) (JOBY) Higher; (EAR) (SYBX) (SCS) Lower (more...)

September 23, 2021 9:25 AM EDT
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Price: $8.43 +1.93%

Overall Analyst Rating:
    NEUTRAL (Down Down)

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Today's Pre-Open Stock Movers:

Eargo (NASDAQ: EAR) 51.6% LOWER; was informed that it is the target of a criminal investigation by the U.S. Department of Justice (the “DOJ”) related to insurance reimbursement claims the Company has submitted on behalf of its customers covered by federal employee health plans. The Company is cooperating with the investigation. In addition, the Company intends to work with the government with the objective of validating the process to support any future claims that the Company may submit for reimbursement.

Condor Hospitality Trust, Inc. (NYSE: CDOR) 13.2% HIGHER; entered into an agreement with affiliates of Blackstone Real Estate Partners to sell its entire portfolio of hotels in a $305 million transaction. This is an all cash transaction without the assumption of any existing debt. Completion of the transaction, which is expected to occur in the fourth quarter of 2021, is subject to customary closing conditions, including the approval of the Companys shareholders.

BlackBerry (NYSE: BB) 8.3% HIGHER; reported Q2 EPS of ($0.06), $0.01 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $175 million versus the consensus estimate of $163.5 million.

Synlogic (Nasdaq: SYBX) 8.3% LOWER; announced that it has commenced an underwritten public offering of its common stock. All shares of common stock to be sold in the offering will be offered by Synlogic. Synlogic intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Joby Aviation Inc (NYSE: JOBY) 6.5% HIGHER; Morgan Stanley initiates coverage with an Overweight rating and a price target of $16.00.

Plug Power (NASDAQ: PLUG) 4.6% HIGHER; Piper Sandler upgraded from Neutral to Overweight with a price target of $33.

Darden Restaurants (NYSE: DRI) 4.4% HIGHER; reported Q1 EPS of $1.76, $0.11 better than the analyst estimate of $1.65. Revenue for the quarter came in at $2.31 billion versus the consensus estimate of $2.24 billion. Darden Restaurants sees FY2022 EPS of $7.25-$7.60, versus the consensus of $7.43. Darden Restaurants sees FY2022 revenue of $9.4-9.6 billion, versus the consensus of $9.41 billion.

Steelcase (NYSE: SCS) 3.8% LOWER; reported Q2 EPS of $0.21, $0.03 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $724.8 million versus the consensus estimate of $763.62 million. Steelcase sees Q3 2022 EPS of $0.07-$0.11, versus the consensus of $0.10. Steelcase sees Q3 2022 revenue of $755-785 million, versus the consensus of $720.8 million.

H.B. Fuller (NYSE: FUL) 3% HIGHER; reported Q3 EPS of $0.79, in-line with the analyst estimate of $0.79. Revenue for the quarter came in at $827 million versus the consensus estimate of $797.48 million.

Trimble Navigation (NASDAQ: TRMB) 2% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $74.00 (from $80.00).

Vertex Energy, Inc. (NASDAQ: VTNR) 1.6% HIGHER; provided an update on the proposed acquisition of the Mobile refinery located in Mobile, Alabama from Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company and Shell Chemical LP, subsidiaries of Royal Dutch Shell plc.



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