Pre-Open Movers 01/30: (SMRT) (CALD) (CRBP) Higher; (SMG) (MXIMI) (ESRX) (UNH) Lower (more...)

January 30, 2018 9:32 AM

Pre-Open Stock Movers

Stein Mart, Inc. (NASDAQ: SMRT) 15% HIGHER; announced that a Special Committee appointed by its Board of Directors, together with management, have assembled a team to explore all opportunities to improve operating performance and identify potential strategic alternatives. The company has retained PJ SOLOMON as its investment banking and financial advisor and had previously engaged Alvarez & Marsal to review its operations for performance enhancements.

Ultra Clean Holdings, Inc. (Nasdaq: UCTT) 10.2% LOWER; announced that it has commenced an underwritten public offering of approximately $100 million of its common stock. All of the shares of common stock to be sold in the offering will be offered by the Company. In addition, the Company expects to grant the underwriters a 30-day option to purchase additional shares of Ultra Clean's common stock at the public offering price, less the underwriting discount. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Callidus Software Inc. (NASDAQ: CALD) 10% HIGHER; SAP SE (NYSE: SAP) and Callidus Software Inc. (NASDAQ: CALD) today announced that SAP America, Inc. has entered into an agreement to acquire CallidusCloud, the leader in cloud-based Lead to Money (Quote-to-Cash) solutions. The CallidusCloud board of directors has unanimously approved the transaction. The per share purchase price of $36.00 represents a 21% premium over the 30-day volume weighted average price per share and a 28% premium over CallidusCloud's 90-day volume weighted average price per share.

Scotts Miracle-Gro (NYSE: SMG) 9.5% LOWER; reported Q1 EPS of ($1.08), $0.14 worse than the analyst estimate of ($0.94). Revenue for the quarter came in at $221.5 million versus the consensus estimate of $238.54 million.

Maxim Integrated Products (NASDAQ: MXIM) 8.4% LOWER; Renesas denied that it's in talks with Maxim​

Polaris Industries (NYSE: PII) 8.4% LOWER; reported Q4 EPS of $1.47, in-line with the analyst estimate of $1.47. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.36 billion. ​GUIDANCE: Polaris Industries sees FY2018 EPS of $6.00-$6.20, versus the consensus of $6.03. Adjusted sales for the full year 2018 expected in the range of up 3% to 5%.

Express Scripts (NASDAQ: ESRX) 7.9% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

Rambus (NASDAQ: RMBS) 6.7% LOWER; reported Q4 EPS of $0.19, in-line with the analyst estimate of $0.19. Revenue for the quarter came in at $101.9 million versus the consensus estimate of $101.13 million.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) 6.5% HIGHER; announced today that it has received a Development Award for up to $25 million from the Cystic Fibrosis Foundation. The Development Award enables the Company to execute its Phase 2b study of its novel, oral, pro-resolving drug lenabasum (formerly known as anabasum) in approximately 415 people with cystic fibrosis ("CF") who are 12 years and older and at increased risk for pulmonary exacerbations ("PEx"). Pulmonary exacerbations are severe inflammatory events in CF which are associated with acute worsening of respiratory signs and symptoms and sometimes irreversible loss of lung function.

UnitedHealth (NYSE: UNH) 6.1% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

CIGNA (NYSE: CI) 6% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

CVS Health (NYSE: CVS) 5.9% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

Anthem (NASDAQ: ANTM) 5.8% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

MetLife, Inc. (NYSE: MET) 5.7% LOWER; Management of the company has determined the prior release of group annuity reserves resulted from a material weakness in internal control over financial reporting. MetLife expects to increase reserves in total between $525 million and $575 million pre-tax, to adjust for reserves previously released, as well as accrued interest and other related liabilities.

Humana (NYSE: HUM) 5.5% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

Antero Resources (NYSE: AR) 5.6% HIGHER; announced today that the Company and its Board of Directors are working with its financial and legal advisors to evaluate various potential measures to address the discount in trading value of Antero's stock relative to some of the premier U.S. large capitalization upstream independents that have a similar profile in terms of leverage, capital efficiency, production growth and free cash flow generation. The potential measures to be evaluated include the return of capital to shareholders.

Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA) 5.5% HIGHER; announced that the FDA has classified the outcome of its fourth quarter 2017 reinspection of Pfizer’s McPherson facility as Voluntary Action Indicated (VAI). The Glatopa 40 mg ANDA remains under regulatory review, however, the Company believes the application review could be completed at any time in connection with the change to VAI status.

Extreme Networks Inc. (NASDAQ: EXTR) 4.8% HIGHER; will replace Time Inc. (NYSE: TIME) in the S&P SmallCap 600 effective prior to the open of trading on Thursday, February 1.

Autoliv (NYSE: ALV) 4.5% HIGHER; reported Q4 EPS of $2.03, $0.31 better than the analyst estimate of $1.72. Revenue for the quarter came in at $2.73 billion versus the consensus estimate of $2.69 billion.

Hawaiian Holdings (NASDAQ: HA) 4.5% HIGHER; reported Q4 EPS of $1.10, $0.02 better than the analyst estimate of $1.08. Revenue for the quarter came in at $686.55 million versus the consensus estimate of $681.52 million.

PennyMac Mortgage Investment Trust (NYSE: PMT) 3.4% HIGHER; will replace Bank Mutual Corp. (NASDAQ: BKMU) in the S&P SmallCap 600 effective prior to the open of trading on Friday, February 2, 2018.

Sanmina (NASDAQ: SANM) 3.2% LOWER; reported Q1 EPS of $0.48, $0.05 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $1.74 billion versus the consensus estimate of $1.76 billion. GUIDANCE: Sanmina sees Q2 2018 EPS of $0.40-$0.50, versus the consensus of $0.51. Sanmina sees Q2 2018 revenue of $1.6-1.7 billion, versus the consensus of $1.69 billion.

Amarin Corporation plc (NASDAQ: AMRN) 4.2% LOWER; announced a registered underwritten public offering of its American Depositary Shares. All of the shares in the proposed offering are to be sold by Amarin. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. On January 26, 2018, the last sale price of the ADSs on The NASDAQ Global Market was $4.27 per share.

Walgreens Boots (NYSE: WBA) 2.6% LOWER; Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) and J.P. Morgan Chase (NYSE: JPM) enter partnership to form an independent healthcare company.

Oclaro (NASDAQ: OCLR) 1.5% HIGHER; Loop Capital initiates coverage with a Buy rating and a price target of $10.00.

CymaBay Therapeutics, Inc. (Nasdaq: CBAY) 0.8% LOWER; announced that it has commenced an underwritten public offering of its common stock.

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