Pre-Open Stock Movers 11/19: (FENT) (APVO) (SONO) Higher; (MGTX) (GPRO) (CUB) Lower (more...)

Today's Pre-Open Stock Movers

Phoenix New Media (NYSE: FENG) 56.5% HIGHER; declared a special dividend of $1.3712 per ADS. The annual yield on the dividend is 55.7 percent.

Aptevo Therapeutics (NASDAQ: APVO) 34.5% HIGHER; holder Tang Capital disclosed: On November 18, 2020, the Reporting Persons submitted a bid letter to the Board of Directors of the Issuer offering to acquire the remaining common stock of the Issuer that Tang Capital Partners, LP does not already own for a price of $50.00 per share in cash. A copy of the bid letter is attached as Exhibit 2 and incorporated by reference in this Item 4 in its entirety.

Corcept Therapeutics (NASDAQ: CORT) 22.5% HIGHER; Wins Ruling Over Korlym Patent in Teva Pharma (NYSE: TEVA) PTAB Challenge - Bloomberg

Sonos (NASDAQ: SONO) 20.8% HIGHER; reported Q4 EPS of $0.33, $0.18 better than the analyst estimate of $0.15. Revenue for the quarter came in at $339.8 million versus the consensus estimate of $298.77 million. Sonos sees FY2021 revenue of $1.44-1.5 billion, versus the consensus of $1.38 billion.

JOYY Inc. (Nasdaq: YY) 13.7% HIGHER; issued the following statement in response to allegations made in a report by Muddy Waters. Yesterday, Muddy Waters issued a short seller report on JOYY, causing anxiety and market disturbance, leading to abnormal share price movements. The Company believes that the report contains numerous errors, unsubstantiated statements, and misleading conclusions and interpretations regarding information relating to the Company.

L Brands (NYSE: LB) 10% HIGHER; reported Q3 EPS of $1.13, $1.04 better than the analyst estimate of $0.09. Revenue for the quarter came in at $3.06 billion versus the consensus estimate of $2.67 billion.

Western Copper and Gold Corporation (NYSE: WRN) 10% LOWER; has today filed a preliminary prospectus supplement in connection with an over-night marketed public offering (the "Offering") of common shares of the Company (the "Common Shares"). The definitive price shall be determined in the context of the market and the size of the Offering is not to be less than $20,000,000. It is expected that Cormark Securities Inc. (the "Lead Underwriter") and a syndicate of underwriters (collectively the "Underwriters") will enter into a definitive underwriting agreement with the Company on the successful marketing of the Offering. The Company has granted the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 30 days from the closing of the Offering.

Coty Inc. (NYSE: COTY) 9.4% HIGHER; Citi analyst Wendy Nicholson upgraded from Neutral to Buy with a price target of $10.00 (from $4.50), saying while shares have doubled from the bottom the could go a log higher.

Playa Hotels & Resorts N.V. (NASDAQ: PLYA) 8.7% HIGHER; announced the pricing of an upsized underwritten secondary offering of 13,575,739 of its Ordinary Shares by certain selling shareholders (the “Selling Shareholders”) affiliated with Farallon Capital Management, L.L.C. (collectively, the “Farallon Funds”), at a public offering price of $4.10 per Ordinary Share, which is expected to result in gross proceeds to the Selling Shareholders of approximately $55.7 million (assuming no exercise of the underwriter’s option to purchase up to 2,036,361 additional Ordinary Shares).

MeiraGTx Holdings plc (NASDAQ: MGTX) 8.2% LOWER; announced that it has commenced an underwritten public offering of 5,000,000 of its ordinary shares. In connection with the offering, MeiraGTx intends to grant the underwriters a 30-day option to purchase up to an additional 750,000 of its ordinary shares. All of the ordinary shares are being offered by MeiraGTx.

Jack in the Box (NASDAQ: JACK) 6.8% HIGHER; reported Q4 EPS of $1.61, $0.47 better than the analyst estimate of $1.14. Revenue for the quarter came in at $255.4 million versus the consensus estimate of $249.19 million.

Aquestive Therapeutics, Inc. (NASDAQ: AQST) 6.7% HIGHER announced today the completion of a Type A meeting with the U.S. Food and Drug Administration (FDA) confirming a pathway for resubmission for approval of the Companys drug candidate Libervant (diazepam) Buccal Film for management of seizure clusters.

GoPro, Inc. (NASDAQ: GPRO) 5% LOWER; proposes to offer $100.0 million aggregate principal amount of convertible senior notes due 2025 (the "notes"), subject to market conditions and other factors. The notes are to be offered and sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). GoPro also intends to grant the initial purchasers of the notes an option to purchase, within a 13-day period from, and including the date on which the notes are first issued, up to an additional $15.0 million aggregate principal amount of notes.

Nuance Communications (NASDAQ: NUAN) 4.9% HIGHER; reported Q4 EPS of $0.18, $0.02 better than the analyst estimate of $0.16. Revenue for the quarter came in at $352.9 million versus the consensus estimate of $345.72 million.

Cubic (NYSE: CUB) 4.5% LOWER; Canaccord Genuity analyst Ken Herbert downgraded from Buy to Hold with a price target of $64.00.

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