Pre-Open Stock Movers 12/20: (CRCM) (MRNS) (SCHL) Higher (ABEO) (NBRV) (SHLO) Lower (more...)

December 20, 2019 9:30 AM

Pre-Open Stock Movers

Abeona Therapeutics Inc. (Nasdaq: ABEO) 42% LOWER; announced the pricing of its public offering of 26,982,945 shares of its common stock at a public offering price of $2.50 per share and in lieu of common stock, pre-funded warrants to purchase 9,017,055 shares of its common stock at a purchase price of $2.4999 per pre-funded warrant, which equals the public offering price per share of the common stock less the $0.0001 per share exercise price of each pre-funded warrant.

Nabriva Therapeutics plc (NASDAQ: NBRV) 18.6% LOWER; entered into a definitive agreement with certain institutional investors for the purchase and sale in a registered direct offering of (i) an aggregate of 13,793,106 ordinary shares and (ii) warrants to purchase up to an aggregate of 13,793,106 ordinary shares. Each ordinary share and accompanying warrant are being sold together at a combined purchase price of $1.45. The warrants have an exercise price of $1.90 per share, are initially exercisable six months following issuance (the “Initial Exercise Date”) and will expire on the 3-year anniversary of the Initial Exercise Date.

Shiloh Industries (NASDAQ: SHLO) 17.5% LOWER; reported Q4 EPS of ($0.10), $0.11 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $259 million versus the consensus estimate of $274.77 million. Shiloh Industries sees FY2020 revenue of $1 billion, versus the consensus of $1.07 billion.

Care.com (NYSE: CRCM) 13% HIGHER; IAC (NASDAQ: IAC) and Care.com (NYSE: CRCM), the world's largest online marketplace for finding and managing family care, announced today that the two companies have entered into a definitive agreement pursuant to which IAC will acquire Care.com for $15.00 per share in an all-cash transaction representing approximately $500 million of enterprise value. This valuation represents a 34% premium to Care.com's unaffected closing stock price on October 25, 2019, the last trading day before a media report was published speculating about a potential sale process.

Marinus Pharmaceuticals (NASDAQ: MRNS) 12% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $6.00.

Scholastic Corp (NASDAQ: SCHL) 11.5% HIGHER; reported Q2 EPS of $2.06, $0.29 better than the analyst estimate of $1.77. Revenue for the quarter came in at $597.2 million versus the consensus estimate of $591.2 million. The Company remains on course to achieve its operating goals for the 2020 fiscal year and is affirming its outlook for revenues in the range of $1.67 to $1.70 billion, up from $1.65 billion in fiscal 2019, and Adjusted EBITDA (as defined in the accompanying tables) of $140 to $160 million, up from $121.3 million in fiscal 2019. The Company's long-term capital investment plan also remains on target with planned capital expenditures of $75 to $85 million in fiscal 2020, compared to $95.0 million in fiscal 2019.

Calamp Corp. (NASDAQ: CAMP) 10.5% LOWER; reported Q3 EPS of $0.15, in-line with the analyst estimate of $0.15. Revenue for the quarter came in at $96.6 million versus the consensus estimate of $94.89 million. Calamp Corp. sees Q4 2020 EPS of $0.10-$0.16, versus the consensus of $0.24. Calamp Corp. sees Q4 2020 revenue of $95-100 million, versus the consensus of $97.6 million.

Avalon GloboCare Corp. (NASDAQ: AVCO) 7.9% HIGHER; announced it has established a strategic partnership with China (Nanjing) Cell Valley (“CNCV”). CNCV is currently one of the largest biotech zone initiatives in China with the goal of cultivating translational research and the technological advancement in the CellTech industry both in China and globally. This partnership creates a platform to combine Avalon’s clinical expertise in cellular therapy, particularly in the Chimeric Receptor Antigen (CAR)-T area, with the infrastructural resources available within the CNCV. Avalon will provide their expertise in multi-center clinical studies for cellular therapy while leveraging the immense network of affiliated hospitals and laboratories of the CNCV. Additionally, Avalon will collaborate with CNCV to facilitate technical training, bio-production process standardization and harmonization.

AAR Corp. (NYSE: AIR) 7.1% HIGHER; reported Q2 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $493.1 million versus the consensus estimate of $525.21 million. AAR Corp. sees FY2020 EPS of $2.50-$2.65, versus the consensus of $2.61. AAR Corp. sees FY2020 revenue of $2.15-2.225 billion, versus the consensus of $2.21 billion.

U.S. Steel (NYSE: X) 6.4% LOWER; reported Q4 EPS of ($1.15), $0.56 worse than the analyst estimate of ($0.59).

Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) 5.6% LOWER; announced topline data from the Phase 3 SOTA-EMPA study for sotagliflozin (Zynquista) in type 2 diabetes.

The Michaels Companies (NASDAQ: MIK) 5.5% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $5.00 (from $7.00).

Winnebago Industries (NYSE: WGO) 5.3% HIGHER; reported Q1 EPS of $0.73, $0.14 better than the analyst estimate of $0.59. Revenue for the quarter came in at $588.5 million versus the consensus estimate of $538.89 million.

Carnival Corp. (NYSE: CCL) 4.4% HIGHER; reported Q4 EPS of $0.62, $0.11 better than the analyst estimate of $0.51. Revenue for the quarter came in at $4.8 billion versus the consensus estimate of $4.59 billion. Carnival Corp. sees FY2020 EPS of $4.30-$4.60, versus the consensus of $4.39.

Mack-Cali Realty (NYSE: CLI) 3.8% HIGHER; UDR, Inc. (NYSE: UDR) explores deal with Mack-Cali Realty (NYSE: CLI) - Reuters

Knight-Swift Transportation (NYSE: KNX) 2.7% LOWER; announced an update to its earnings guidance for the fourth quarter of 2019. The company expects to revise its first quarter 2020 guidance and provide second quarter 2020 guidance in conjunction with the fourth quarter 2019 earnings release in January 2020. Based on preliminary results, the company now expects the Adjusted EPS(1) for the fourth quarter of 2019 will range from $0.50 to $0.52 (which is an update from the previously-announced expectation of $0.62 to $0.65)

Nike (NYSE: NKE) 1.5% LOWER; reported Q2 EPS of $0.70, $0.13 better than the analyst estimate of $0.57. Revenue for the quarter came in at $10.3 billion versus the consensus estimate of $10.07 billion.

Categories

Special Reports