Pre-Open Stock Movers 10/12: (DDS) (DOYU) (TWLO) Higher; (ATXI) (PCG) Lower (more...)

October 12, 2020 9:29 AM EDT
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Price: $6.83 -2.84%

Overall Analyst Rating:
    BUY (= Flat)

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Today's Pre-Open Stock Movers:

LIZHI INC. (NASDAQ: LIZI) 57.6% HIGHER; has been selected into first 10 Guangdong-based online audiovisual companies to participate in a local government-backed pilot program, which stands out companies that spearhead the innovation in products, services and business models through the development, promotion and application of cutting-edge technology, and play a significant role in the development of online audiovisual industry.

Avenue Therapeutics, Inc. (NASDAQ: ATXI) 52.8% LOWER; announced it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding the Companys New Drug Application (NDA) for IV tramadol.

Dillard's (NYSE: DDS) 16.6% HIGHER; Berkshire Hathaway investment manager Ted Weschler disclosed owing a 5.9% stake.

DouYu International Holdings Limited (NASDAQ: DOYU) 16.4% HIGHER; HUYA Inc. ("Huya") (NYSE: HUYA) and DouYu International Holdings Limited ("DouYu") (NASDAQ: DOYU) today announced that they have entered into an Agreement and Plan of Merger, dated October 12, 2020 (the "Merger Agreement") with Tiger Company Ltd., a newly formed company with limited liability incorporated under the laws of the Cayman Islands and a direct wholly owned subsidiary of Huya ("Merger Sub"), and, solely for the limited purposes set forth therein, Nectarine Investment Limited ("Tencent"), a wholly owned subsidiary of Tencent Holdings Limited. Pursuant to the Merger Agreement, Huya will acquire all the outstanding shares of DouYu, including ordinary shares represented by American depositary shares, through a stock-for-stock merger (the "Merger").

Alkermes plc (Nasdaq: ALKS) 11.8% HIGHER; announced positive voting outcomes from the joint meeting of the Psychopharmacologic Drugs Advisory Committee and the Drug Safety and Risk Management Advisory Committee, appointed by the U.S. Food and Drug Administration (FDA). The committees met to discuss ALKS 3831 (olanzapine/samidorphan), an investigational, novel, once-daily, oral atypical antipsychotic drug candidate for the treatment of adults with schizophrenia and for the treatment of adults with bipolar I disorder. The committees jointly voted that samidorphan meaningfully mitigates olanzapine-associated weight gain (16 yes, 1 no) and that the safety profile of ALKS 3831 has been adequately characterized (13 yes, 3 no, 1 abstention).

PG&E Corp. (NYSE: PCG) 6% LOWER; warns of potential Public Safety Power Shutoff later this week

Twilio (NYSE: TWLO) 4.6% HIGHER; announced that it has entered into a definitive agreement to acquire Segment for approximately $3.2 billion in Twilio Class A common stock, on a fully diluted and cash free, debt free basis. The transaction is expected to close in the fourth quarter of 2020.

DraftKings Inc. (NASDAQ: DKNG) 4.3% HIGHER; Credit Suisse initiates coverage on with an Outperform rating and a price target of $76.00.

Twitter, Inc. (NYSE: TWTR) 3.8% HIGHER; Deutsche Bank upgraded from Hold to Buy with a price target of $56

Apple (NASDAQ: AAPL) 2.9% HIGHER; iPhone event tomorrow

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