Pre-Open Stock Movers 02/19: (ICPT) (NAVI) (VKTX) (ORBK) Higher; (WIN) (SLCA) (WTW) Lower (more...)

February 19, 2019 8:56 AM

Today's Pre-Open Movers

Intercept Pharma (NASDAQ: ICPT) gained 25%; announced positive results from its pivotal Phase 3 REGENERATE study of obeticholic acid (OCA) in patients with liver fibrosis due to nonalcoholic steatohepatitis (NASH).

Navient (NASDAQ: NAVI) climbed 7.8%; announced that it has received a highly conditional unsolicited “expression of interest” from Canyon Capital Advisors LLC and Platinum Equity Advisors, LLC to acquire the Company for $12.50 per share in cash, which represents a premium of only 6.6% over Navient’s most recent closing price on February 15, 2019 of $11.73 per share and a discount of 2.8% to the one-year volume-weighted average price of $12.86 per share. Navient’s Board rejected the expression of interest.

Viking Therapeutics (NASDAQ: VKTX) gained 7%; traded higher following positive results from Intercept Pharma (NASDAQ: ICPT). Intercept gained 20% and Viking climbed 4.2%.

PG&E Corp. (NYSE: PCG) gained 6.5%; Citi analyst Praful Mehta upgraded PG&E Corporation from Neutral to Buy with a price target of $33.00. The analyst said timely legislation action is expected, caps risk and unlocks significant upside. The analyst notes the upgrade is 'high risk'.

Orbotech Ltd (NASDAQ: ORBK) gained 4.8%; KLA-Tencor Corporation (NASDAQ: KLAC) and Orbotech Ltd. today announced that following a series of cooperative discussions, the State Administration for Market Regulation of the People's Republic of China (SAMR) provided antitrust clearance for the proposed merger involving KLA and Orbotech Ltd., as provided in the SAMR's clearance decision dated Feb. 13, 2019. KLA and Orbotech expect to close the merger on Feb. 20, 2019.

Nabriva (NASDAQ: NBRV) climbed 4.3%; announced that the U.S. Food and Drug Administration (FDA) has accepted the New Drug Applications (NDAs) and granted a priority review for both the intravenous (IV) and oral formulations of lefamulin, a potentially first-in-class, semi-synthetic pleuromutilin antibiotic, for the treatment of community-acquired bacterial pneumonia (CABP).

Conduent Incorporated (NYSE: CNDT) gained 3.75%; today announced it has entered into a settlement agreement with the state of Texas regarding claims related to two previous contracts supporting the state's Medicaid program.

Walmart (NYSE: WMT) climbed 2.8%; eported Q4 EPS of $1.41, $0.08 better than the analyst estimate of $1.33. Revenue for the quarter came in at $138.8 billion versus the consensus estimate of $138.66 billion.

Windstream (NASDAQ: WIN) plunged 63%; announced today it is postponing the release of the company’s fourth-quarter and full-year 2018 financial results following a federal judge’s ruling against one of its subsidiaries. The company previously announced its plans to release the results on Feb. 21.

U.S. Silica (NYSE: SLCA) declined 8.5%; reported Q4 EPS of ($0.04), $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $357.4 million versus the consensus estimate of $372.8 million.

Himax Technologies (NASDAQ: HIMX) declined 7.4%; reported Q4 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $191 million versus the consensus estimate of $191.8 million. GUIDANCE: Himax Technologies sees Q1 2019 EPS of ($0.01)-($0.03), versus the consensus of ($0.01).

Weight Watchers (NASDAQ: WTW) declined 6.3%; JPMorgan analyst Christina Brathwaite downgraded Weight Watchers (NASDAQ: WTW) from Overweight to Neutral with a price target of $25.00 (from $37.00).

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