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Pre-Open Movers 08/03: (ADT) (VAR) (MPC) Higher; (ALRM) (CLX) Lower (more...)

August 3, 2020 9:31 AM

Pre-Open Stock Movers

ADT (NYSE: ADT) 62.3% HIGHER; ADT and Google (NASDAQ: GOOGL) today announced they are entering into a long-term partnership to create the next generation of smart home security offerings. The partnership will combine Nests award-winning hardware and services, powered by Googles machine learning technology, with ADTs installation, service and professional monitoring network to create a more helpful smart home and integrated experience for customers across the United States.

Immunic, Inc. (NASDAQ: IMUX) 35.8% HIGHER; announced positive top-line data from its phase 2 EMPhASIS trial of lead asset, IMU-838, the company's selective oral DHODH inhibitor, in patients with relapsing-remitting multiple sclerosis (RRMS). The study achieved all primary and key secondary endpoints, indicating activity in RRMS patients. In particular, the study met its primary endpoint, demonstrating a statistically significant reduction in the cumulative number of combined unique active (CUA) magnetic resonance imaging (MRI) lesions up to week 24 in patients receiving 45mg of IMU-838 once daily, by 62% (p=0.0002), as compared to placebo. The study also met its key secondary endpoint, showing a statistically significant reduction in the cumulative number of CUA MRI lesions for the 30mg once daily dose, by 70% (p<0.0001), as compared to placebo.

CymaBay Therapeutics, Inc. (NASDAQ: CBAY) 27.3% HIGHER; announced positive topline results from ENHANCE, a placebo-controlled, randomized, Phase 3 study evaluating the safety and efficacy of seladelpar for the treatment of primary biliary cholangitis (PBC). Seladelpar is a potent and selective peroxisome proliferator-activated receptor delta (PPAR) agonist that has demonstrated anti-cholestatic and anti-inflammatory effects in clinical studies for PBC.

Varian (NYSE: VAR) 22.6% HIGHER; announced that it has entered into a definitive agreement to combine with Siemens Healthineers AG (Frankfurt: SHL) in an all-cash transaction valued at $16.4 billion on a fully diluted basis. Under the terms of the agreement, which has been unanimously approved by Varian's Board of Directors, Siemens Healthineers will acquire all outstanding shares of Varian for $177.50 per share in cash, representing a premium of approximately 42% to the 30-day volume weighted average closing price of Varian's common stock as of July 31, 2020, the last trading day prior to the announcement of the transaction, and a premium of approximately 24% to the closing price of Varian's common stock on July 31, 2020.

Suncoke Energy (NYSE: SXC) 16% HIGHER; reported Q2 EPS of $0.08, $0.15 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $338 million versus the consensus estimate of $239.1 million.

Co-Diagnostics, Inc. (Nasdaq: CODX) 12% HIGHER; announced today that its partner, Clinical Reference Laboratory (CRL) has received FDA Emergency Use Authorization for CRL Rapid Response™, a saliva-based COVID-19 test that can be self-administered at home, work or any other setting and then tested using Co-Diagnostics' patented CoPrimer™ technology.

Alarm.com Holdings, Inc. (NASDAQ: ALRM) 8.6% LOWER; Alphabet Inc's (NASDAQ: GOOGL) Google is buying a 6.6% stake in home security firm ADT (NYSE: ADT) for $450 million in a deal that will allow it to provide service to customers of its Nest home security devices

Marathon Petroleum Corp. (NYSE: MPC) 8.3% HIGHER; announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals.

BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 7.4% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for its oral Factor D inhibitor, BCX9930, for the treatment of paroxysmal nocturnal hemoglobinuria (PNH).

International Game Technology PLC (NYSE: IGT) 5% HIGHER; announced that it will boost its momentum in the growing U.S. sports betting market through a multi-year agreement with leading sports betting and iGaming provider, FanDuel Group. Under the terms of the agreement, IGT's PlaySports platform will power all of FanDuel Group's new and existing retail FanDuel Sportsbooks across the U.S. through September 2024. Additionally, FanDuel Group agreed to offer IGT PlayDigital's PlayCasino games in states where FanDuel Group online casinos operate.

Clorox (NYSE: CLX) 2.7% LOWER; reported Q4 EPS of $2.41, $0.42 better than the analyst estimate of $1.99. Revenue for the quarter came in at $1.98 billion versus the consensus estimate of $1.87 billion. Announced that, effective Sept. 14, 2020, Linda Rendle, a 17-year veteran of the company, will be promoted to chief executive officer and elected to the company's board of directors. Benno Dorer will continue serving as the board's executive chair.

Beyond Meat, Inc. (NASDAQ: BYND) 2.3% HIGHER; is working to increase accessibility to plant-based meat through the development of new sales channels, including club and convenience stores. The company, which offers an 8-pack of its flagship Beyond Burger®, first broke into the club channel last year at Costco. This summer, Beyond Meat added partnerships with BJs Wholesale and Sams Club, unlocking partnerships with three major club stores.

Microsoft Corporation (NASDAQ: MSFT) 2.3% HIGHER; in talks with Trump admin acquire the U.S. operations of TikTok.

Merck (NYSE: MRK) 1.8% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $105.00 (from $91.00).

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