Pre-Open Stock Movers 12/07: (KODK) (CKH) Higher; (RIDE) (XPEV) (JKS) Lower (more...)
Today's Pre-Open Stock Movers
Eastman Kodak Company (NYSE: KODK) 72% HIGHER; news that federal regulators found no wrongdoing in getting a loan from the government.
Kura Oncology, Inc. (Nasdaq: KURA) 16.9% HIGHER; announced preliminary clinical data from KOMET-001, an ongoing Phase 1/2A clinical trial of the Companys oral, potent and selective menin inhibitor, KO-539, including single-agent activity in genetically defined subgroups of patients with relapsed or refractory acute myeloid leukemia (AML).
Matinas BioPharma Holdings, Inc. (NYSE: MTNB) 15.2% HIGHER; announced that they plan to collaborate with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), to test oral formulations of remdesivir in preclinical models. Remdesivir is owned by Gilead Sciences, Inc. (Nasdaq: GILD) and the lipid nanocrystal (LNC) platform is owned by Matinas. Any product generated as a part of efforts by Matinas and NIAID would require a license from Gilead for the use of remdesivir and a license from Matinas for the use of the LNC formulation.
Perion Network Ltd. (NASDAQ: PERI) 14% HIGHER; Increased its revenue and Adjusted EBITDA guidance for the full year and fourth quarter 2020.
SEACOR Holdings Inc. (NYSE: CKH) 14% HIGHER; entered into a definitive agreement with an affiliate of American Industrial Partners (AIP), a New York-based private equity firm that focuses on buying, improving, and growing industrial businesses, to take the company private. The all-cash transaction is valued at approximately $1 billion, including net debt.
Anworth Mortgage Asset Corporation (NYSE: ANH) 13.2% HIGHER; Ready Capital Corporation (NYSE: RC) ("Ready Capital"), a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans, and Anworth Mortgage Asset Corporation (NYSE: ANH) ("Anworth"), a specialty finance REIT that focuses primarily on investments in residential mortgage-backed securities, announced today that they have entered into a definitive merger agreement pursuant to which Ready Capital will combine with Anworth. The combined company is expected to have a pro forma equity capital base in excess of $1 billion. The combination is expected to enhance shareholder liquidity and provide for increased operating leverage across the larger equity base.
GSX Techedu Inc. (NYSE: GSX) 11.5% HIGHER; announced that certain investors have agreed to purchase through a private placement a total of US$ 870 million of newly issued Class A ordinary shares of the Company, representing approximately 6.2% of the Company's total outstanding shares. The private placement is expected to be closed in December 2020.
Fate Therapeutics, Inc. (NASDAQ: FATE) 11% HIGHER; presented a patient case study from the Companys Phase 1 clinical trial of FT596, its universal, off-the-shelf, CD19-targeted chimeric antigen receptor (CAR) natural killer (NK) cell product candidate, at the 62nd Annual Society of Hematology Annual Meeting and Exposition.
Bayer and Atara Biotherapeutics, Inc. (Nasdaq: ATRA) 10.2% HIGHER; announced an exclusive worldwide license agreement and research, development and manufacturing collaboration for mesothelin-directed CAR T-cell therapies for the treatment of solid tumors. The agreement includes the development candidate ATA3271, an armored allogeneic T-cell immunotherapy, and an autologous version, ATA2271, for high mesothelin-expressing tumors such as malignant pleural mesothelioma and non-small-cell lung cancer.
HOOKIPA Pharma Inc. (NASDAQ: HOOK) 9% HIGHER; today announced positive interim Phase 1 data on HB-201, its replicating monotherapy for the treatment of HPV16+ cancers. The results are from the initial dose escalation cohorts of an ongoing Phase 1/2 clinical trial (NCT04180215) evaluating HB- 201 as therapy for patients with advanced HPV16+ metastatic cancers. HOOKIPA will host a conference call and live audio webcast today at 8:30am EST.
Lordstown Motors Corp. (Nasdaq: RIDE) 7.1% LOWER; announced that the United States Securities and Exchange Commission (the SEC) has declared Lordstowns registration statement on Form S-1 (File No. 333-250045) (the Registration Statement) effective as of todays date. The Registration Statement registered 152,999,357 shares of Lordstowns Class A common stock, which includes (a) 143,66,024 shares of Class A common stock registered for sale by the selling security holders named in the Registration Statement, (b) an aggregate of 5,066,667 shares of Class A common stock issuable upon the exercise of private placement warrants, and (c) 9,333,333 shares of Class A common stock issuable upon the exercise of public warrants. The Registration Statement also registered the resale of the private placement warrants.
XPeng Inc. (NYSE: XPEV) 6.4% LOWER; announced that it intends to offer and sell 40,000,000 American Depositary Shares (ADSs), each representing two Class A ordinary shares of the Company, subject to market and other conditions, in an underwritten public offering. The underwriters will have a 30-day option to purchase up to an aggregate of 6,000,000 additional ADSs from the Company.
JinkoSolar (NYSE: JKS) 4.5% LOWER; reported Q3 EPS of $1.06, $0.21 better than the analyst estimate of $0.85. Revenue for the quarter came in at $1.29 billion versus the consensus estimate of $1.3 billion. JinkoSolar sees Q4 2020 revenue of $1.31-1.43 billion, versus the consensus of $1.52 billion.
Spirit AeroSystems (NYSE: SPR) 3.4% HIGHER; UBS upgraded from Neutral to Buy with a price target of $50.00 (from $19.00).
Boeing (NYSE: BA) 2.6% HIGHER; UBS analyst Myles Walton upgraded Boeing (NYSE: BA) from Neutral to Buy with a price target of $300.00 (from $150.00), saying FCF estimates have moved up materially on narrowbody/cost action optimism.