Pre-Open Stock Movers 10/21: (ASTC) (SNAP) (CALX) Higher; (GSX) (NAVI) (NFLX) Lower (more...)

October 21, 2020 9:27 AM

Today's Pre-Open Stock Movers

Astrotech Corporations (NASDAQ: ASTC) 177% HIGHER; subsidiary, BreathTech Corporation announced today that it has signed a joint development agreement (JDA) with Cleveland Clinic to explore leveraging Astrotechs BreathTest-1000 mass spectrometer to rapidly screen for COVID-19 or related indicators. The goal of the agreement is to develop a non-invasive device that will use breath samples to identify COVID-19 strains, with the potential to provide a low-cost, self-service screening option that could be deployed on a large-scale.

Snap (NYSE: SNAP) 24% HIGHER; reported Q3 EPS of $0.01, $0.06 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $678.7 million versus the consensus estimate of $549.99 million. DAUs were 249 million in Q3 2020, an increase of 39 million or 18% year-over-year.

Calix, Inc. (NYSE: CALX) 22.7% HIGHER; reported Q3 EPS of $0.40, $0.20 better than the analyst estimate of $0.20. Revenue for the quarter came in at $150.5 million versus the consensus estimate of $129.44 million.

GSX Techedu Inc. (NYSE: GSX) 22.3% LOWER; Credit Suisse downgraded from Neutral to Underperform with a price target of $71.00.

The Container Store Group (NYSE: TCS) 15.2% HIGHER; reported Q2 EPS of $0.43, $0.40 better than the analyst estimate of $0.03. Revenue for the quarter came in at $248.2 million versus the consensus estimate of $216.45 million.

WD-40 Co. (NASDAQ: WDFC) 10.4% HIGHER; reported Q4 EPS of $1.42, $0.29 better than the analyst estimate of $1.13. Revenue for the quarter came in at $111.6 million versus the consensus estimate of $98.8 million.

Prothena Corporation plc (NASDAQ: PRTA) 9.5% HIGHER; announced that based on positive signals of efficacy consistent with disease modification in the PASADENA study, Roche and Prothena plan to advance prasinezumab into a Phase 2b study in patients with early Parkinson’s disease. The study will be designed to further assess the efficacy of prasinezumab by expanding upon the patient population enrolled in PASADENA to include patients with early Parkinson’s disease on stable levodopa therapy. Prasinezumab is the first anti-alpha synuclein antibody to advance into late-stage development. Prothena will earn a $60 million clinical milestone payment upon first patient dosed in this study. Further details are expected to be announced in the first half of 2021.

Pinterest (NYSE: PINS) 9.1% HIGHER; upgraded at Goldman Sach and BofA

Xeris Pharmaceuticals, Inc. (Nasdaq: XERS) 8.6% HIGHER; announced it was granted Fast Track designation by the Food and Drug Administration (FDA) for the investigation of XP-0863 (diazepam non-aqueous injection) for the treatment of acute repetitive seizures. Xeris’ XP-0863 was previously granted orphan designations both for the treatment of acute repetitive seizures and for the treatment of Dravet Syndrome.

Navient (NASDAQ: NAVI) 7% LOWER; reported Q3 EPS of $1.03, $0.25 better than the analyst estimate of $0.78. Revenue for the quarter came in at $244 million versus the consensus estimate of $281.74 million.

AutoNation (NYSE: AN) 7% HIGHER; reported Q3 EPS of $2.38, $0.82 better than the analyst estimate of $1.56. Revenue for the quarter came in at $5.4 billion versus the consensus estimate of $5.13 billion.

Netflix (NASDAQ: NFLX) 6% LOWER; reported Q3 EPS of $1.74, $0.39 worse than the analyst estimate of $2.13. Revenue for the quarter came in at $6.44 billion versus the consensus estimate of $6.38 billion. Netflix added 2.2 million global streaming net paid additions, versus 2.5 million the company previously predicted. The company sees Q4 revenue of $6.572 and EPS of $1.35, versus the consensus of $6.58 billion and $0.94. The company sees 6 million global streaming net paid additions in Q4.

Pinterest (NYSE: PINS) 5.9% HIGHER; gains on SNAP results.

Aptinyx Inc. (Nasdaq: APTX) 5.7% LOWER; intends to offer and sell 12,000,000 shares of its common stock in an underwritten public offering.

USANA Health Sciences (NYSE: USNA) 5.6% HIGHER; reported Q3 EPS of $1.44, $0.19 better than the analyst estimate of $1.25. Revenue for the quarter came in at $298.5 million versus the consensus estimate of $277.26 million. USANA Health Sciences sees FY2020 EPS of $5.15-$5.45, versus the consensus of $5.18. USANA Health Sciences sees FY2020 revenue of $1.09-1.115 billion, versus the consensus of $1.08 billion.

Slack Technologies Inc. (NYSE: WORK) 5.4% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $27 after a CIO survey showed a fading positioning versus an intensifying competitive landscape.

Twitter (NYSE: TWTR) 5% HIGHER; gains on SNAP results

Replimune Group, Inc. (Nasdaq: REPL) 4.3% LOWER; announced a proposed public offering of $125 million of shares of its common stock.

Casella Waste Systems, Inc. (NASDAQ: CWST) 4.2% LOWER; commenced a proposed underwritten public offering of 2,350,000 shares of its Class A common stock. Casella also intends to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional 352,500 shares of Class A common stock. All of the shares in the offering are to be sold by Casella.

Humanigen (NASDAQ: HGEN) 3.8% HIGHER; Cantor Fitzgerald initiates coverage with an Overweight rating and a price target of $25.00.

Facebook, Inc. (NASDAQ: FB) 2.7% HIGHER; gains on SNAP results

Parsley Energy, Inc. (NYSE: PE) 2.6% LOWER; Pioneer Natural Resources Company (NYSE: PXD) and Parsley Energy, Inc. (NYSE: PE) today announced that they have entered into a definitive agreement under which Pioneer will acquire all of the outstanding shares of Parsley in an all-stock transaction valued at approximately $4.5 billion as of October 19, 2020. Under the terms of the agreement, Parsley shareholders will receive a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley common stock owned. The total value for the transaction, inclusive of Parsley debt assumed by Pioneer, is approximately $7.6 billion.

Texas Instruments (NASDAQ: TXN) 1.2% HIGHER; reported Q3 EPS of $1.45, $0.18 better than the analyst estimate of $1.27. Revenue for the quarter came in at $3.82 billion versus the consensus estimate of $3.43 billion.

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