Pre-Open Movers 01/16: (HAWK) (CATS) (MRK) Higher; (EIGR) (DPW) (KODK) Lower (more...)

January 16, 2018 9:27 AM

Today's Pre-Open Stock Movers

SPI Energy Co., Ltd. (Nasdaq: SPI) 144% HIGHER; announced that it has established a blockchain-based infrastructure application division in Palo Alto, California, to explore blockchain-based infrastructure and e-commerce application in global presence.

Eiger BioPharmaceuticals, Inc. (Nasdaq: EIGR) 44.7% LOWER; announced today Phase 2 LIBERTY study results in pulmonary arterial hypertension (PAH) that demonstrated no improvement overall or in key subgroups for both the primary efficacy endpoint of pulmonary vascular resistance (PVR) and the secondary endpoint of 6-minute walk distance (6MWD). No safety signals attributed to ubenimex were identified in the preliminary analysis. Further analysis of data, including biomarkers is ongoing, although the company will discontinue development of ubenimex in PAH based on these results.

IZEA, Inc. (NASDAQ: IZEA) 26.7% HIGHER; operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, today announced IZEA Crypto™, a multifaceted initiative focused on incorporating cryptocurrency and blockchain technologies into the broader Creator Economy. The company anticipates making these new technologies an integral component of ongoing operations. IZEA seeks to make cryptocurrency mining and blockchain easily accessible for the average computer user, and to explore new lines of business that can leverage IZEA’s existing technology infrastructure and marketplace resources.

Blackhawk Network Holdings, Inc. (NASDAQ: HAWK) 22.9% HIGHER; announced that Silver Lake, the global leader in technology investing, and P2 Capital Partners have agreed to acquire Blackhawk in an all-cash transaction for a total consideration of approximately $3.5 billion, which includes Blackhawks debt. Under the terms of the agreement, Blackhawk stockholders will receive $45.25 per share in cash upon closing of the transaction, representing a premium of 24.0% over Blackhawks closing share price of $36.50 on January 12, 2018 and a premium of 29.3% over the average closing share price during the 90 calendar days ended January 12, 2018.

Digital Power (NYSE: DPW) 15.4% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins

Kodak (NYSE: KODK) 8.7% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins

Riot Blockchain (NASDAQ: RIOT) 8.6% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins

Catasys, Inc. (NASDAQ: CATS) 6.2% HIGHER; announced that it has entered into an agreement with Cigna Corporation (NYSE: CI), a global health service company dedicated to helping people improve their health, well-being and sense of security, for Catasys’ OnTrak solution for certain members with anxiety, depression or substance use disorders. The first market is expected to launch in the first quarter of 2018.

Overstock.com (NASDAQ: OSTK) 5.7% LOWER; crypto stocks under pressure on drop and bitcoin, alt-coins

Spark Therapeutics (NASDAQ: ONCE) 5% LOWER; Wedbush downgraded from Neutral to Underperform with a price target of $35.00 (from $50.00).

Merck (NYSE: MRK) 5% HIGHER; announced that the pivotal Phase 3 KEYNOTE-189 trial investigating KEYTRUDA® (pembrolizumab), Merck’s anti-PD-1 therapy, in combination with pemetrexed (Alimta®) and cisplatin or carboplatin, for the first-line treatment of patients with metastatic non-squamous non-small cell lung cancer (NSCLC), met its dual primary endpoints of overall survival (OS) and progression-free survival (PFS). Based on an interim analysis conducted by the independent Data Monitoring Committee, treatment with KEYTRUDA in combination with pemetrexed plus platinum chemotherapy resulted in significantly longer OS and PFS than pemetrexed plus platinum chemotherapy alone. The safety profile of KEYTRUDA in this combination was consistent with that previously observed.

Las Vegas Sands (NYSE: LVS) 4.2% HIGHER; analysts raise Macau forecasts

Finisar (NASDAQ: FNSR) 4% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $16.00 (from $19.00).

Denbury Resources (NYSE: DNR) 4% HIGHER; Mizuho Securities upgraded from Neutral to Buy with a price target of $4.50 (from $2.00).

Finisar (NASDAQ: FNSR) 3.9% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $16.00 (from $19.00).

California Resources (NYSE: CRC) 3.5% HIGHER; BofA/Merrill Lynch upgraded from Neutral to Buy with a price target of $34.00 (from $24.00).

General Electric (NYSE: GE) 3.5% LOWER; announced today that the comprehensive review and reserve testing for GE Capitals run-off insurance portfolio, North American Life & Health (NALH), will result in an after-tax GAAP charge of $6.2 billion for the fourth quarter of 2017, and GE Capital expects to make statutory reserve contributions of ~$15 billion over seven years. The Kansas Insurance Department, NALHs primary regulator, approved a phased contribution of ~$3 billion in 1Q18 and ~$2 billion annually from 2019 through 2024.

OSI Systems, Inc. (NASDAQ: OSIS) 3.3% HIGHER; today announced that, as a follow on to its existing contract, OSI Systems’ Security division has signed a new two-year agreement with Servicio de Administración Tributaria (SAT), Mexico’s tax and customs authority, to continue providing security inspection services through a wide-ranging program utilizing cargo and vehicle screening systems throughout Mexico.

Wynn Resorts (NASDAQ: WYNN) 3% HIGHER; analysts raise Macau forecasts

Citigroup (NYSE: C) 2.5% HIGHER; reported Q4 EPS of $1.20, $0.01 better than the analyst estimate of $1.19. Revenue for the quarter came in at $17.3 billion versus the consensus estimate of $17.22 billion.

CIENA (NYSE: CIEN) 2.5% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $27.00 (from $24.00).

Melco Resorts (NASDAQ: MLCO) 2.4% HIGHER; analysts raise Macau forecasts

Viacom (NASDAQ: VIAB) 2.4% LOWER; Rosenblatt downgraded from Hold to Sell.

MGM Resorts (NYSE: MGM) 1.6% HIGHER; analysts raise Macau forecasts

UnitedHealth Group (NYSE: UNH) 1.5% HIGHER; reported Q4 EPS of $2.59, $0.08 better than the analyst estimate of $2.51. Revenue for the quarter came in at $52.1 billion versus the consensus estimate of $51.5 billion. GUIDANCE: UnitedHealth Group sees FY2018 EPS of $12.30-$12.60, versus the consensus of $11.47.

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