Pre-Open Stock Movers 12/12: (CCXI) (TLM) (GPRO) Higher; (EOX) (GDP) (MEIP) Lower (more...)
- Wall Street slides in broad-based selloff on recession worries
- BofA says S&P 500 could drop to 3000 in H123
- Apple (AAPL) improving wait times suggest supply chain headwinds easing - UBS
- Deutsche Bank goes against consensus, sees S&P 500 rallying to 4500
- Textron (TXT) jumps on FLRAA contract award - deal will 'drive meaningful contributions'
ChemoCentryx, Inc., (Nasdaq: CCXI) 88.3% HIGHER; announced positive top-line 52-week data from its Phase II clinical trial in diabetic nephropathy with CCX140, an inhibitor of the chemokine receptor known as CCR2. The trial met its primary endpoint by demonstrating that treatment with 5 mg of CCX140 given orally once daily added to a standard of care regimen (SOC) of angiotensin converting enzyme (ACE) inhibitor or angiotensin receptor II blocker (ARB) treatment resulted in a statistically significant (p=0.0148) reduction in urinary albumin creatinine ratio (UACR), beyond that achieved with SOC alone.
Talisman Energy Inc. (NYSE: TLM) 33% HIGHER; Repsol preparing bid which could be C$6/share
Frontline Ltd. (NYSE: FRO) 25.2% HIGHER; sees upside
Emerald Oil, Inc. (NYSE: EOX) 16.4% LOWER; cuts production, management changes
Heritage-Crystal Clean (NASDAQ: HCCI) 10.2% LOWER; announced that it plans to offer to sell 3,100,000 shares of the Company's common stock.
Organovo Holding (NYSE: ONVO) 8.5% HIGHER; CEO on CNBC's Fast Money
Goodrich Petroleum (NYSE: GDP) 8.5% LOWER; JPMorgan downgraded from Overweight to Underweight.
Adobe Systems (NASDAQ: ADBE) 7.8% HIGHER; reported Q4 EPS of $0.36, $0.06 better than the analyst estimate of $0.30. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.06 billion. Adobe added 644 thousand net new Creative Cloud subscriptions in the quarter. Creative Annualized Recurring Revenue (ARR) grew to $1.676 billion, and total Digital Media ARR grew to $1.947 billion. Adobe also agreed to acquire Fotolia.
Caesars Entertainment (NYSE: CZR) 5.8% LOWER; An informal committee consisting of certain beneficial holders of first lien debt of Caesars Entertainment Corporation and its majority owned subsidiary Caesars Entertainment Operating Company, Inc. outstanding under CEOC's senior secured credit facilities is publicly disclosing information that was provided to the First Lien Bank Lenders in discussions with the Company regarding a potential restructuring of CEOC's debt.
MEI Pharma, Inc. (Nasdaq: MEIP) 4.4% LOWER; priced an underwritten public offering of 10,000,000 shares of its common stock at an offering price of $4.00 per share, for total gross proceeds (before underwriting discount and commissions and estimated expenses) of approximately $40 million.
GoPro (Nasdaq: GPRO) 3.8% HIGHER; JPMorgan upgraded from Neutral to Overweight, but maintained its price target at $70.
Emcore (NASDAQ: EMKR) 3.7% HIGHER; reported Q4 EPS of ($0.04), $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $43.7 million versus the consensus estimate of $44.62 million.
Dynavax Technologies (NASDAQ: DVAX) 3.6% HIGHER; positive analyst comments from R&D day
Acadia Realty Trust (NYSE: AKR) 1.9% LOWER; announced the sale of 3,400,000 common shares of beneficial interest of the Company to Citigroup, in a public offering pursuant to the Company’s effective shelf registration statement previously filed with the Securities and Exchange Commission
SeaWorld Entertainment, Inc. (NYSE: SEAS) 1.8% HIGHER; announced that, effective January 15, 2015, Chairman David F. D'Alessandro will serve as the Company's interim CEO until the Board of Directors (the "Board") selects a permanent successor to current CEO and President, Jim Atchison, who will become Vice Chairman of the Board. Mr. D'Alessandro, who has been Chairman of the Company's Board since 2010, will continue in that position. He served as Chairman, President and Chief Executive Officer of John Hancock Financial Services from 2000 to 2004, having served as President and Chief Operating Officer of the same entity from 1996 to 2000.
United Technologies (NYSE: UTX) 1.8% LOWER; said it is looking for FY15 EPS of about $7.10, with the consensus at $7.29. Q4 EPS expected at about $1.60 with sales of about $17 billion. The consensus is looking for EPS of $1.68 and revs of $17.2 billion.
Quicksilver (NYSE: ZQK) 1.3% LOWER; reported Q4 EPS of ($0.29), $0.18 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $400.7 million versus the consensus estimate of $430.4 million. Comps were down 3%. Quicksilver sees FY2014 revenue of $1.48-1.55 billion, versus the consensus of $1.62 billion. Quicksilver sees FY2014 revenue of $340 million, versus the consensus of $384.03 million.
Lamar Advertising (NASDAQ: LAMR) 0.5% HIGHER; declared a quarterly dividend of $0.84 per share, or $3.36 annualized. In addition, Lamar announces that its board of directors has authorized the repurchase of up to $250 million in stock.
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