Today's Pre-Open Stock Movers

Lee Enterprises, Incorporated (NYSE: LEE) 53% HIGHER; entered into a definitive agreement with Berkshire Hathaway to acquire BH Media Group’s (“BHMG”) publications and The Buffalo News for $140 million in cash. Berkshire Hathaway is providing approximately $576 million in long-term financing to Lee at a 9% annual rate. The proceeds from the Berkshire financing will be used to pay for the acquisition, refinance Lee’s approximately $400 million of existing debt, and provide enough cash on Lee’s balance sheet to allow for the termination of Lee’s revolving credit facility. Subsequent to the deal closing, Berkshire Hathaway will be Lee’s sole lender.

Conatus Pharmaceuticals Inc. (NASDAQ: CNAT) 37.1% HIGHER; Conatus Pharmaceuticals and Histogen Inc., a privately-held regenerative medicine company with a novel biological platform that replaces and regenerates tissues in the body, today announced the companies have entered into a definitive agreement under which Histogen will merge with a wholly-owned subsidiary of Conatus in an all-stock transaction. The combined company will operate under the name Histogen, Inc., is expected to trade on the Nasdaq Capital Market under a new ticker symbol still to be determined and will focus on advancement of its patented technology for dermatological and orthopedic indications.

L Brands (NYSE: LB) 13.8% HIGHER; Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall street Journal reported on Wednesday.

MACOM Technology Solutions (NASDAQ: MTSI) 13.7% HIGHER; reported Q1 EPS of $0.07, $0.04 better than the analyst estimate of $0.03. Revenue for the quarter came in at $119.1 million versus the consensus estimate of $114.51 million. MACOM Technology Solutions sees Q2 2020 EPS of $0.09-$0.13, versus the consensus of $0.05. MACOM Technology Solutions sees Q2 2020 revenue of $122-126 million, versus the consensus of $116.65 million.

Accuray (NASDAQ: ARAY) 12.7% HIGHER; reported Q2 EPS of $0.12, which includes positive items and does not compare to the analyst estimate of ($0.07). Revenue for the quarter came in at $98.8 million versus the consensus estimate of $97.73 million.

Biohaven Pharmaceutical (NYSE: BHVN) 11.8% LOWER; announced the pricing of its underwritten public offering of 4,830,917 of its common shares at a price to the public of $51.75 per share.

Santander Consumer USA (NYSE: SC) 11.2% HIGHER; reported Q4 EPS of $0.43, $0.06 better than the analyst estimate of $0.37.

Extreme Networks (NASDAQ: EXTR) 10.7% LOWER; reported Q2 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $267.5 million versus the consensus estimate of $273.18 million. Sees Q3 Non-GAAP EPS of $0.11-$0.15, versus the consensus of $0.18. Sees Q3 revenue $255-$265 million versus the consensus of $275.3 million.

\Selecta Biosciences (NASDAQ: SELB) 10% HIGHER; Cantor Fitzgerald initiates coverage on with a Overweight rating and a price target of $10.00.

General Electric (NYSE: GE) 8.3% HIGHER; reported Q4 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $26.2 billion versus the consensus estimate of $25.59 billion. General Electric sees FY2020 EPS of $0.50-$0.60, versus the consensus of $0.66.

C.H. Robinson (NASDAQ: CHRW) 7.6% LOWER; reported Q4 EPS of $0.73, versus the analyst estimate of $0.96. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.75 billion. The company also announced it has entered into a definitive agreement to acquire Prime Distribution Services (Prime), a leading provider of retail consolidation services in North America, from Roadrunner Transportation (NYSE: RRTS). The agreement is subject to certain customary closing conditions, including regulatory approval.

Xilinx (NASDAQ: XLNX) 7.2% LOWER; reported Q3 EPS of $0.68, $0.09 better than the analyst estimate of $0.59. Revenue for the quarter came in at $723 million versus the consensus estimate of $730.63 million. Xilinx sees Q4 2020 revenue of $750-780 million, versus the consensus of $824.56 million.

Dynatrace Inc. (NYSE: DT) 6% HIGHER; reported Q3 EPS of $0.10, $0.03 better than the analyst estimate of $0.07. Revenue for the quarter came in at $143.3 million versus the consensus estimate of $137.56 million. Dynatrace Inc. sees Q4 2020 EPS of $0.08, versus the consensus of $0.07. Dynatrace Inc. sees Q4 2020 revenue of $147-148 million, versus the consensus of $144.9 million.

Cerus Corporation (NASDAQ: CERS) 6% LOWER; announced today that it has commenced a registered underwritten public offering of $50.0 million of its common stock. In addition, Cerus expects to grant the underwriter a 30-day option to purchase up to an additional $7.5 million of its common stock. All of the shares to be sold in the offering are to be sold by Cerus.

Norfolk Southern (NYSE: NSC) 5.9% HIGHER; reported Q4 EPS of $2.55, $0.27 better than the analyst estimate of $2.28. Revenue for the quarter came in at $2.7 billion versus the consensus estimate of $2.71 billion.

eBay (NASDAQ: EBAY) 4.5% LOWER; reported Q4 EPS of $0.81, $0.05 better than the analyst estimate of $0.76. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.81 billion. eBay sees Q1 2020 EPS of $0.70-$0.73, versus the consensus of $0.70. eBay sees Q1 2020 revenue of $2.55-2.6 billion, versus the consensus of $2.64 billion. eBay sees FY2020 EPS of $2.95-$3.05, versus the consensus of $2.86. eBay sees FY2020 revenue of $10.72-10.92 billion, versus the consensus of $10.79 billion.

AMD (NASDAQ: AMD) 4.5% LOWER; reported Q4 EPS of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.11 billion. AMD sees Q1 2020 revenue of $1.75-$1.85 billion, versus the consensus of $1.86 billion.

Maxim Integrated Products (NASDAQ: MXIM) 4% HIGHER; reported Q2 EPS of $0.56, $0.03 better than the analyst estimate of $0.53. Revenue for the quarter came in at $551 million versus the consensus estimate of $545.31 million. Maxim Integrated Products sees Q3 2020 EPS of $0.57-$0.65, versus the consensus of $0.56. Maxim Integrated Products sees Q3 2020 revenue of $555-598 million, versus the consensus of $556.8 million.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) 3.4% LOWER; announced that it has commenced a public offering of approximately $55,000,000 of its common shares, to be sold by the Company in a registered public offering. The Company expects to grant the underwriters a 30-day option to purchase up to $8,250,000 of additional common shares. 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.

Dow (NYSE: DOW) 3.4% HIGHER; reported Q4 EPS of $0.78, $0.04 better than the analyst estimate of $0.74. Revenue for the quarter came in at $10.2 billion versus the consensus estimate of $10.07 billion.

Cirrus Logic, Inc. (NASDAQ: CRUS) 3.2% HIGHER; Apple suppliers gain following strong quarter

Mercury Systems (NASDAQ: MRCY) 2.4% LOWER; reported Q2 EPS of $0.54, $0.06 better than the analyst estimate of $0.48. Revenue for the quarter came in at $193.91 million versus the consensus estimate of $192.53 million. Mercury Systems sees Q3 2020 EPS of $0.50-$0.53, versus the consensus of $0.56. Mercury Systems sees Q3 2020 revenue of $190-200 million, versus the consensus of $205.55 million. Mercury Systems sees FY2020 EPS of $2.09-$2.13, versus the consensus of $2.09. Mercury Systems sees FY2020 revenue of $780-795 million, versus the consensus of $787.06 million.

Costamare (NYSE: CMRE) 2.4% HIGHER; reported Q4 EPS of $0.32, $0.04 better than the analyst estimate of $0.28. Revenue for the quarter came in at $128.5 million versus the consensus estimate of $124.47 million.

MKS Instruments (NASDAQ: MKSI) 1.8% HIGHER; reported Q4 EPS of $1.20, $0.13 better than the analyst estimate of $1.07. Revenue for the quarter came in at $500 million versus the consensus estimate of $474.91 million. MKS Instruments sees Q1 2020 EPS of $1.14-$1.49, versus the consensus of $1.29. MKS Instruments sees Q1 2020 revenue of $495-545 million, versus the consensus of $496.07 million.

Apple (NASDAQ: AAPL) 1.7% HIGHER; reported Q1 EPS of $4.99, $0.44 better than the analyst estimate of $4.55. Revenue for the quarter came in at $91.8 billion versus the consensus estimate of $88.5 billion.

Starbucks Corp (NASDAQ: SBUX) 0.9% LOWER; reported Q1 EPS of $0.76, in-line with the analyst estimate of $0.76. Revenue for the quarter came in at $7.1 billion versus the consensus estimate of $7.11 billion. Q1 Comparable Store Sales Up 5% Globally, Led by 6% Comp Growth in the U.S. and 3% Comp Growth in China