Pre-Open Stock Movers 11/23: (AADI) (WDC) (MU) Higher; (BBY) (URBN) (ZM) Lower (more...)

November 23, 2021 9:05 AM EST

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Pre Open Stock Movers:

Aadi Bioscience, Inc. (Nasdaq: AADI) 24.8% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has approved FYARRO (sirolimus protein-bound particles for injectable suspension) (albumin-bound) for intravenous use for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa). FYARRO is the first and only FDA-approved treatment for advanced malignant PEComa in adults.

Best Buy (NYSE: BBY) 14.7% LOWER; reported Q3 EPS of $2.08, $0.18 better than the analyst estimate of $1.90. Revenue for the quarter came in at $11.91 billion versus the consensus estimate of $11.56 billion. Best Buy sees Q4 2022 revenue of $16.4-16.9 billion, versus the consensus of $16.7 billion.

Urban Outfitters (NASDAQ: URBN) 11% LOWER; reported Q3 EPS of $0.89, $0.05 better than the analyst estimate of $0.84. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.12 billion. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by mid-single-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable Retail segment net sales increased 55% at the Free People Group, 9% at the Anthropologie Group and 7% at Urban Outfitters. Total Retail segment net sales increased 16%.

Zoom (NASDAQ: ZM) 10.7% LOWER; reported Q3 EPS of $1.11, $0.02 better than the analyst estimate of $1.09. Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $1.02 billion. Zoom sees Q4 2022 EPS of $1.06-$1.07, versus the consensus of $1.05. Zoom sees Q4 2022 revenue of $1.051-1.053 billion, versus the consensus of $1.02 billion.

MAG Silver Corp. (NYSE: MAG) 4% LOWER; entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Raymond James Ltd. under which the underwriters have agreed to buy on a bought deal basis 2,340,000 common shares (the Common Shares), at a price of US$17.15 per Common Share for gross proceeds of approximately US$40 million (the Offering). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about November 29, 2021 and is subject to the Company receiving all necessary regulatory approvals.

Western Digital Corp. (NASDAQ: WDC) 3.5% HIGHER; Mizuho Securities upgraded from Neutral to Buy with a price target of $75.00 (from $55.00).

Agilent Technologies (NYSE: A) 3.2% LOWER; reported Q4 EPS of $1.21, $0.04 better than the analyst estimate of $1.17. Revenue for the quarter came in at $1.66 billion versus the consensus estimate of $1.66 billion. Agilent Technologies sees FY2022 EPS of $4.76-$4.86, versus the consensus of $4.24. Agilent Technologies sees FY2022 revenue of $6.65-6.73 billion, versus the consensus of $6.01 billion. Agilent Technologies sees Q1 2022 EPS of $1.16-$1.18, versus the consensus of $1.02. Agilent Technologies sees Q1 2022 revenue of $1.64-1.66 billion, versus the consensus of $1.47 billion.

Xpeng (NASDAQ: XPEV) 3% HIGHER; reported unaudited Q3 results. XPeng reported Q3 EPS of ($0.27), worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $887.7 million versus the consensus estimate of $787.91 million. Xpeng reported a gross margin of 14.4% for Q3, up from 11.9% in Q2. The company delivered 25,666 EV units in Q3 and expects to deliver between 34,500 and 36,500 EVs in Q4.

Micron Technology (NASDAQ: MU) 2.6% HIGHER; Mizuho Securities upgraded from Neutral to Buy with a price target of $95.00 (from $75.00).

Dollar Tree (NASDAQ: DLTR) 1.7% LOWER; reported Q3 EPS of $0.96, $0.01 better than the analyst estimate of $0.95. Revenue for the quarter came in at $6.42 billion versus the consensus estimate of $6.41 billion. Dollar Tree sees Q4 2021 EPS of $1.69-$1.79, versus the consensus of $1.75. Dollar Tree sees Q4 2021 revenue of $7.02-7.18 billion, versus the consensus of $7.03 billion.



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