Today's Pre-Open Stock Movers:

Lyft (NASDAQ: LYFT) 20.5% HIGHER; California voters overwhelmingly approved Proposition 22 to allows the so-called "gig economy companies" to continue classifying their drivers as independent contractors and not employees.

Cassava Sciences, Inc. (NASDAQ: SAVA) 18% HIGHER; announced additional clinical data of a Phase 2b study with sumifilam, its lead drug candidate, in patients with Alzheimer’s disease. In a clinical study funded by the National Institutes of Health (NIH), sumifilam decreased levels of a protein called HMGB1 and improved measurements of the integrity of the blood-brain barrier (BBB). The ability of a drug candidate to decrease HMGB1 and improve BBB integrity in patients with Alzheimer’s disease has not been previously reported in the science literature. Sumifilam is a proprietary, small molecule (oral) drug that restores the normal shape and function of altered filamin A protein in the brain.

Supernus Pharma (NASDAQ: SUPN) 16.4% HIGHER; reported Q3 EPS of $0.74, $0.44 better than the analyst estimate of $0.30. Revenue for the quarter came in at $155.1 million versus the consensus estimate of $130.66 million. Supernus Pharma sees FY2020 revenue of $500-525 million, versus the consensus of $486.54 million.

RealNetworks (NASDAQ: RNWK) 13.7% LOWER; reported Q3 EPS of ($0.08), versus ($0.14) reported last year. Revenue for the quarter came in at $16.6 million versus the consensus estimate of $33.11 million.

Uber (NYSE: UBER) 13% HIGHER; California voters overwhelmingly approved Proposition 22 to allows the so-called "gig economy companies" to continue classifying their drivers as independent contractors and not employees.

Park-Ohio Holdings (NASDAQ: PKOH) 12.8% HIGHER; reported Q3 EPS of $0.52, $0.49 better than the analyst estimate of $0.03. Revenue for the quarter came in at $340.2 million versus the consensus estimate of $328.13 million.

Super Micro Computer (NASDAQ: SMCI) 12% HIGHER; reported Q1 EPS of $0.55, $0.39 better than the analyst estimate of $0.16. Revenue for the quarter came in at $762 million versus the consensus estimate of $748.02 million. Super Micro Computer sees Q2 2021 EPS of $0.35-$0.58, versus the consensus of $0.25. Super Micro Computer sees Q2 2021 revenue of $780-880 million, versus the consensus of $819.8 million.

Tabula Rasa HealthCare (NASDAQ: TRHC) 8.4% LOWER; reported Q3 EPS of ($0.01), $0.05 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $70.51 million versus the consensus estimate of $75.81 million. Tabula Rasa HealthCare sees FY2020 revenue of $294-296 million, versus the consensus of $304.93 million.

ADTRAN (NASDAQ: ADTN) 7.4% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $16.50 (from $11).

Mercury Systems (NASDAQ: MRCY) 7% LOWER; reported Q1 EPS of $0.51, $0.04 better than the analyst estimate of $0.47. Revenue for the quarter came in at $205.6 million versus the consensus estimate of $199.61 million. Mercury Systems sees Q2 2021 EPS of $0.48-$0.51, versus the consensus of $0.55. Mercury Systems sees Q2 2021 revenue of $200-210 million, versus the consensus of $213.7 million. Mercury Systems sees FY2021 EPS of $2.20-$2.28, versus the consensus of $2.28. Mercury Systems sees FY2021 revenue of $865-885 million, versus the consensus of $879.5 million.

Clearwater Paper (NYSE: CLW) 6.6% LOWER; reported Q3 EPS of $1.59, $0.21 better than the analyst estimate of $1.38. Revenue for the quarter came in at $0 versus the consensus estimate of $461.62 million.

Canopy Growth (NYSE: CGC) 6.3% LOWER; Despite positive votes on recreational marijuana, as GOP is expected to maintain control of the Senate they could slow national reform.

XPeng (NYSE: XPEV) 5.7% HIGHER; Citi initiates coverage with a Buy rating and a price target of $34.70.

Tilray, Inc. (NASDAQ: TLRY) 5.6% LOWER; Despite positive votes on recreational marijuana, as GOP is expected to maintain control of the Senate they could slow national reform.

Darling Ingredients (NYSE: DAR) 5.5% LOWER; reported Q3 EPS of $0.61, $0.17 better than the analyst estimate of $0.44. Revenue for the quarter came in at $850.6 million versus the consensus estimate of $854.45 million.

Cronos (NASDAQ: CRON) 5% LOWER; Despite positive votes on recreational marijuana, as GOP is expected to maintain control of the Senate they could slow national reform.

Corcept Therapeutics (NASDAQ: CORT) 4.4% LOWER; reported Q3 EPS of $0.24, $0.04 better than the analyst estimate of $0.20. Revenue for the quarter came in at $86.33 million versus the consensus estimate of $90.87 million. Corcept Therapeutics sees FY2020 revenue of $355-365 million, versus the consensus of $366.22 million.

Ormat Technologies (NYSE: ORA) 3.4% HIGHER; reported Q3 EPS of $0.31, $0.04 better than the analyst estimate of $0.27. Revenue for the quarter came in at $158.9 million versus the consensus estimate of $162.47 million. Ormat Technologies sees FY2020 revenue of $707-717 million, versus the consensus of $715.7 million.

Chemours (NYSE: CC) 3.2% HIGHER; reported Q3 EPS of $0.47, $0.14 better than the analyst estimate of $0.33. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.2 billion.