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Pre-Open Stock Movers 10/13: (INMD) (ETH) (FL) Higher; (LOOP) (VYGR) (BYND) Lower (more...)

October 13, 2020 9:27 AM

Today's Pre-Open Stock Movers:

Loop Industries (NASDAQ: LOOP) 34.5% LOWER; was mentioned cautiously by short seller Hindenburg Research.

InMode Ltd. (NASDAQ: INMD) 20% HIGHER; Prelim. Q3 Results Top Consensus. Record revenues for the third quarter of 2020 in the range of $59.2 million to $59.5 million, versus the consensus of $38.24 million.

Voyager Therapeutics, Inc. (NASDAQ: VYGR) 13.4% LOWER; received feedback from the U.S. Food and Drug Administration (FDA) on the Investigational New Drug (IND) submission for VY-HTT01 for the treatment of Huntington’s disease. Voyager submitted the IND for VY-HTT01 in September 2020 and has been notified that the IND was placed on clinical hold pending the resolution of certain chemistry, manufacturing and controls (CMC) matters. The Company expects to receive specific feedback from the FDA on these matters within 30 days and plans to work closely with the agency to resolve them and promptly begin the clinical evaluation of VY-HTT01.

Ethan Allen Interiors Inc. (NYSE: ETH) 13.1% HIGHER; Consolidated net sales of $151.1 million, versus the consensus of $137.8 million.

Inventiva (Nasdaq: IVA) 9.8% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy designation to lanifibranor, the Companys lead drug candidate, for the treatment of NASH. Lanifibranor is believed to be the first drug candidate to be granted this status for the treatment of NASH since January 2015.

Athira Pharma (NASDAQ: ATHA) 7.7% HIGHER; bullish new coverage across Wall Street

Royal Caribbean Group (NYSE: RCL) 7.2% LOWER; announced that it has commenced an underwritten public offering of $500 million of shares of common stock of the Company and intends to grant the underwriters an option to purchase up to $75 million of additional shares. The Company expects to use the net proceeds from the offering for general corporate purposes.

Dynavax (NASDAQ: DVAX) 6.3% HIGHER; Medigen Vaccine Biologics Corporation, a biopharmaceutical company focusing on the development and production of vaccines and biologics, and Dynavax Technologies Corporation (NASDAQ: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, today announced that MVC has obtained a Taiwan government subsidy for successfully initiating a Phase 1 clinical trial in Taiwan. The first participant in MVC's Phase 1 clinical trial was dosed with MVC's COVID-19 vaccine combined with Dynavax's CpG 1018 adjuvant at National Taiwan University Hospital in early October. The subsidy will be released at agreed upon milestones in the total amount of up to NT$ 472 million (US$ 16.4 million). The grant received by MVC was earmarked by the Taiwan government for purposes of research and development of a locally produced COVID-19 vaccine.

Foot Locker (NYSE: FL) 4.8% HIGHER; BofA Securities upgraded from Underperform to Buy with a price target of $50.00 (from $20.00).

BlackRock (NYSE: BLK) 4.6% HIGHER; reported Q3 EPS of $9.22, $1.45 better than the analyst estimate of $7.77. Revenue for the quarter came in at $4.37 billion versus the consensus estimate of $3.93 billion.

The Walt Disney Company (NYSE: DIS) 4.5% HIGHER; In light of the tremendous success achieved to date in the Companys's direct-to-consumer business and to further accelerate its DTC strategy, The Walt Disney Company (NYSE: DIS) today announced a strategic reorganization of its media and entertainment businesses. Under the new structure, Disneys world-class creative engines will focus on developing and producing original content for the Companys streaming services, as well as for legacy platforms, while distribution and commercialization activities will be centralized into a single, global Media and Entertainment Distribution organization. The new Media and Entertainment Distribution group will be responsible for all monetization of contentboth distribution and ad salesand will oversee operations of the Companys streaming services. It will also have sole P&L accountability for Disneys media and entertainment businesses.

Beyond Meat Inc. (NASDAQ: BYND) 3.9% LOWER; Bernstein downgraded from Market Perform to Underperform with a price target of $136.00.

Diamond Peak Holdings (NASDAQ: DPHC) 3.8% HIGHER; BTIG initiates coverage on with a Buy rating and a price target of $50.00.

AMC Entertainment (NYSE: AMC) 3.8% LOWER; anticipates that existing cash resources would be largely depleted by the end of 2020 or early 2021

Exelon Corp. (NASDAQ: EXC) 3% HIGHER; Said to Work with Advisers to Evaluate Potential Split - Bloomberg

Workhorse Group (NASDAQ: WKHS) 2.6% HIGHER; tomorrow is D-Day for the $8.1B USPS contract. In addition, partner company Diamond Peak Holdings (DPHC) was initiated with a Buy rating and $50 price target after-hours.

Vulcan Materials (NYSE: VMC) 2.6% LOWER; downgraded to Neutral at BofA

Martin Marietta Materials, Inc. (NYSE: MLM) 2% LOWER; downgraded to Neutral at BofA

Johnson & Johnson (NYSE: JNJ) 1.5% LOWER; reported Q3 EPS of $2.20, $0.22 better than the analyst estimate of $1.98. Revenue for the quarter came in at $21.1 billion versus the consensus estimate of $20.2 billion. Johnson & Johnson sees FY2020 EPS of $7.95-$8.05, versus the consensus of $7.89. Johnson & Johnson sees FY2020 revenue of $81.2-82 billion, versus the consensus of $80.75 billion. Also, temporarily paused its COVID-19 vaccine candidate clinical trials due to an unexplained illness.

Citigroup (NYSE: C) 1.3% HIGHER; reported Q3 EPS of $1.40, $0.48 better than the analyst estimate of $0.92. Revenue for the quarter came in at $17.3 billion versus the consensus estimate of $17.22 billion.

JPMorgan (NYSE: JPM) 1% HIGHER; reported Q3 EPS of $2.92, $0.69 better than the analyst estimate of $2.23. Revenue for the quarter came in at $29.1 billion versus the consensus estimate of $28.29 billion.

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