Pre-Open Movers 03/08: (ESRX) (BBRG) (EYES) Higher; (VBLT) (MYO) (MEET) Lower (more...)

March 8, 2018 9:30 AM

Today's Pre-Open Movers

VBL Therapeutics (Nasdaq: VBLT) 64.7% LOWER; reported top-line results from its pivotal Phase 3 GLOBE study in patients with recurrent glioblastoma (rGBM) which was designed to evaluate VB-111 in combination with bevacizumab (Avastin®), compared to the bevacizumab control arm. The study did not meet its pre-specified primary endpoint of overall survival (OS).

Express Scripts Holding Company (NASDAQ: ESRX) 15.8% HIGHER; Cigna Corporation (NYSE: CI) and Express Scripts Holding Company (NASDAQ: ESRX) today announced that they have entered into a definitive agreement whereby Cigna will acquire Express Scripts in a cash and stock transaction valued at approximately $67 billion, including Cigna's assumption of approximately $15 billion in Express Scripts debt. The merger consideration will consist of $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share. The transaction was approved by the board of directors of each company.

Bravo Brio Restaurant Group, Inc. (NASDAQ: BBRG) 15.7% HIGHER; GP Investments, Ltd., a leading private equity and alternative investment firm, and its controlled company Spice Private Equity Ltd., a Swiss investment company focused on private equity investments, today announced a merger agreement under which an affiliate of Spice will acquire the Company for a total enterprise value of approximately $100 million. The transaction proceeds will be funded by Spice, along with certain third party financing sources.

Myomo (NYSE: MYO) 15.5% LOWER; reported Q4 EPS of ($0.25), $0.08 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $547 thousand versus the consensus estimate of $350 thousand.

Second Sight Medical (NASDAQ: EYES) 14% HIGHER; reported Q4 EPS of ($0.14), versus ($0.17) reported last year. Revenue for the quarter came in at $3.1 million versus the consensus estimate of $1.61 million (1 analyst).

MeetMe (NASDAQ: MEET) 13.8% LOWER; reported Q4 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $40.1 million versus the consensus estimate of $37.83 million.

Burlington Stores (NYSE: ​BURL) 9.2% HIGHER; reported Q4 EPS of $3.59, $1.49 better than the analyst estimate of $2.10. Revenue for the quarter came in at $1.94 billion versus the consensus estimate of $1.89 billion. 5.9% increase in comparable store sales. ​Burlington Stores sees Q1 2018 EPS of $1.05-$1.09, versus the consensus of $1.00

ZAGG, Inc. (NASDAQ: ZAGG) 7.5% LOWER; reported Q4 EPS of $0.71, $0.02 worse than the analyst estimate of $0.73. Revenue for the quarter came in at $176.9 million versus the consensus estimate of $167.15 million. GUIDANCE: ZAGG, Inc. sees FY2018 revenue of $550-570 million, versus the consensus of $568.49 million.

Intellia Therapeutics (NASDAQ: NTLA) 6.7% HIGHER; JMP Securities initiates coverage with a Market Outperform rating and a price target of $76.00.

Comtech Telecom (NASDAQ: CMTL) 6.5% HIGHER; reported Q2 GAAP EPS ex-items of $0.07, $0.15 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $133.7 million versus the consensus estimate of $124.65 million. GUIDANCE: Comtech Telecom sees Q3 2018 GAAP EPS of $0.10-$0.12. Expects Q3 2018 revenues to be about 10% higher than in Q2 2018 Comtech Telecom sees FY 2018 GAAP EPS of $1.08-$1.23. Sees FY 2018 revenues of $570-585 million.

Cigna Corporation (NYSE: CI) 6.3% LOWER; Cigna and Express Scripts Holding Company (NASDAQ: ESRX) today announced that they have entered into a definitive agreement whereby Cigna will acquire Express Scripts in a cash and stock transaction valued at approximately $67 billion, including Cigna's assumption of approximately $15 billion in Express Scripts debt. The merger consideration will consist of $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share. The transaction was approved by the board of directors of each company.

Energy Recovery (NASDAQ: ERII) 5.5% LOWER; reported Q4 EPS of $0.21, $0.09 better than the analyst estimate of $0.12. Revenue for the quarter came in at $22.4 million versus the consensus estimate of $23.11 million.

Genocea Biosciences (NASDAQ: GNCA) 5.4% HIGHER; H.C. Wainwright initiates coverage with a Buy rating and a price target of $5.00.

Thor Industries (NYSE: THO) 4.9% HIGHER; reported Q2 EPS of $1.51, $0.28 worse than the analyst estimate of $1.79. Revenue for the quarter came in at $1.97 billion versus the consensus estimate of $1.93 billion.

Caesars Entertainment (NASDAQ: CZR) 4.4% HIGHER; reported Q4 EPS of $2.48, may not compare to the analyst estimate of $0.02. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $2.01 billion. Adjusted EBITDAR improved to $491 million.

Celldex (NASDAQ: CLDX) 3.6% HIGHER; reported Q4 EPS of ($0.03), $0.22 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $3.5 million versus the consensus estimate of $1.35 million.

Vivint Solar (NYSE: VSLR) 3.3% LOWER; reported Q4 EPS of ($0.43), $0.11 worse than the analyst estimate of ($0.32). Revenue for the quarter came in at $66.8 million versus the consensus estimate of $66.88 million.

Humana (NYSE: HUM) 3% LOWER; down on CI/ESRX

Guidewire Software, Inc. (NYSE: GWRE) 2.4% LOWER; announced that it intends to commence concurrent underwritten public offerings of $200 million of shares of its common stock (the “Shares”) and $300 million aggregate principal amount of its convertible senior notes due 2025 (the “Notes”). In addition, Guidewire expects to grant the underwriters of the offering of Shares (the “Shares Offering”) a 30-day option to purchase up to $30 million of additional Shares and the underwriters of the offering of Notes (the “Notes Offering”) a 30-day option to purchase up to $45 million aggregate principal amount of additional Notes, in each case, solely to cover over-allotments. Neither offering is contingent on the completion of the other offering.

Okta, Inc. (NASDAQ: OKTA) 2.2% HIGHER; reported Q4 EPS of ($0.10), $0.05 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $77.8 million versus the consensus estimate of $73.9 million.

Wynn Resorts Ltd (NASDAQ: WYNN) 2.1% HIGHER; results for the quarter through February 28th were strong, with expected total Adjusted Property EBITDA up between 27% and 34% over prior year. The company also said its accelerating announcement of Q1 2018 dividend increase to $0.75 per share per quarter.

Splunk (NASDAQ: SPLK) 2% HIGHER; Argus upgraded from Hold to Buy, price target $120.00.

Hess Corporation (NYSE: HES) 1.8% HIGHER; announced that its Board of Directors has authorized the purchase of $1.0 billion of Hess common stock by the end of 2018. The newly authorized program is in addition to the $500 million share repurchase program Hess announced in late 2017.

Devon Energy Corp. (NYSE: DVN) 1.8% HIGHER; announced today it has entered into a definitive agreement to sell the southern portion of its Barnett Shale position for $553 million. The transaction is subject to customary terms and conditions and is expected to close in the second quarter of 2018.

Costco (NASDAQ: COST) 0.9% LOWER; reported Q2 EPS of $1.59, $0.13 better than the analyst estimate of $1.46. Revenue for the quarter came in at $33 billion versus the consensus estimate of $32.72 billion.

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