Today's Pre-Open Stock Movers

DURECT Corporation (Nasdaq: DRRX) 17.3% LOWER; announced that the U.S. Food and Drug Administration's (FDA) Anesthetic and Analgesic Drug Products Advisory Committee (AADPAC) met yesterday to discuss the Class 2 New Drug Application (NDA) resubmission for POSIMIR® (bupivacaine extended-release solution). In a split vote on the key question, six advisory committee members voted to recommend that the efficacy, safety, and overall risk-benefit profile of POSIMIR support approval, while six did not support approval based on the information presented.

Tailored Brands, Inc. (NYSE: TLRD) 12.6% HIGHER; Tailored Brands and WHP Global today announced that they have entered into an agreement whereby Tailored Brands will sell the Joseph Abboud trademarks to WHP for $115 million. Tailored Brands has also entered into a licensing agreement with WHP for the exclusive rights to sell and rent Joseph Abboud branded apparel and related merchandise in the U.S. and Canada.

Dave & Busters Entertainment, Inc. (NASDAQ: PLAY) 9.7% HIGHER; In a 13D filing hedge fund KKR disclosed a 6.3%, or 1,938,476 share, active stake in the company. Its previously disclosed stake was 810,838 shares.

Progress Software (NASDAQ: PRGS) 9.7% HIGHER; reported Q4 EPS of $0.79, $0.04 better than the analyst estimate of $0.75. Revenue for the quarter came in at $123.4 million versus the consensus estimate of $118.3 million. Progress also announced today that its Board of Directors has increased the total share repurchase authorization from the $75 million remaining on the previous authorization to $250 million. Progress Software sees Q1 2020 EPS of $0.69-$0.71, versus the consensus of $0.63. Progress Software sees Q1 2020 revenue of $110-113 million, versus the consensus of $103.88 million. Progress Software sees FY2020 EPS of $2.87-$2.92, versus the consensus of $2.84. Progress Software sees FY2020 revenue of $448-455 million, versus the consensus of $436.7 million.

Expeditors International of Washington, Inc. (NASDAQ: EXPD) 7.8% HIGHER; announced that preliminary unaudited results for its fiscal fourth quarter 2019 operating income is expected to fall in a range of $177 million to $183 million and that diluted earnings attributable to shareholders per share is expected to range between $0.78 and $0.81. Estimated diluted net earnings per share has been calculated using the Companys effective tax rate of 25.6% for the first nine months of 2019. The actual effective tax rate for the fourth quarter of 2019 may differ significantly from this rate and is dependent on the final calculation of the December 31, 2019 income tax provision. (Consensus sees Q4 EPS of $0.94 on revenue of $2.18 billion).

Aspen Group, Inc. (NASDAQ: ASPU) 5.2% LOWER; announced that Aspen intends to offer and sell shares of its common stock in an underwritten public offering. Aspen also expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of shares of common stock offered in the public offering. There can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering.

Pinterest Inc (NYSE: PINS) 5.2% HIGHER; Wells Fargo upgraded from Equal Weight to Overweight, PT $30.00 (from $28.00).

Gap Inc. (NYSE: GPS) 4.2% HIGHER; announced that the company no longer intends to separate Old Navy into a standalone public company.

JB Hunt Transport Services (NASDAQ: JBHT) 4% LOWER; reported Q4 EPS of $1.35, $0.17 worse than the analyst estimate of $1.52. Revenue for the quarter came in at $2.45 billion versus the consensus estimate of $2.46 billion.

Snap Inc (NYSE: SNAP) 3.5% HIGHER; UBS upgraded from Neutral to Buy with a price target of $24.00 (from $16.00).

CSX Corp. (NASDAQ: CSX) 3.2% LOWER; reported Q4 EPS of $0.99, $0.02 better than the analyst estimate of $0.97. Revenue for the quarter came in at $2.89 billion versus the consensus estimate of $2.92 billion.

Groupon, Inc. (NASDAQ: GRPN) 2.9% HIGHER; UBS upgraded from Neutral to Buy with a price target of $3.50.

United Natural Foods (NASDAQ: UNFI) 2.8% LOWER; Wells Fargo downgraded from Equal Weight to Underweight.

Sysco Corporation (NYSE: SYY) 1.6% HIGHER; Announced the launch of its Sysco Simply Plant-Based Meatless Burger Patty, a Sysco brand exclusive product. This innovative burger is now available to the companys customers in the majority of its U.S. markets.

Beyond Meat (NASDAQ: BYND) 1% LOWER; on Watch Following Launch of Sysco Simply Plant-Based Meatless Burger Patty

IBM (NYSE: IBM) 1% LOWER; Morgan Stanley from Overweight to Equalweight with a price target of $155.00 (from $170.00).