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Pre-Open Stock Movers 07/09: (STMP) (GALT) (CARV) Higher; (SGH) (DCT) (CLB) Lower (more...)

July 9, 2021 9:28 AM

Pre-Open Stock Movers

Stamps.com (NASDAQ: STMP) 64.4% HIGHER; announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, in an all-cash transaction that values Stamps.com at approximately $6.6 billion.

Galectin Therapeutics Inc. (NASDAQ: GALT) 44.5% HIGHER; announced top-line clinical data from the extension cohort of an investigator-initiated Phase 1b clinical trial of Belapectin, a galectin-3 inhibitor, in combination with KEYTRUDA® (pembrolizumab) in patients with metastatic melanoma and head and neck cancer1. The study is conducted under the direction of Dr. Brendan D. Curti, M.D., a renowned cancer and melanoma expert2.

Carver Bancorp (NASDAQ: CARV) 36% HIGHER; Adds to Yesterday's Gain

LMP Automotive Holdings, Inc. (NASDAQ: LMPX) 15.6% HIGHER; announced that the Board has authorized a debt refinancing, and subject to the conditions of such debt refinancing, a stock buy back and dividend.

LightPath (NASDAQ: LPTH) 15.1% HIGHER; announced today that it has been awarded the renewal of a multiyear supply agreement valued above $2.4 million which is a 50% increase over the prior contract. The supply agreement is for two types of glass aspheres which enable a global industrial engineering company to manufacture precision measurement and motion control devices across a diverse range of industries including additive manufacturing, aerospace, automotive and healthcare.

Humanigen, Inc. (Nasdaq: HGEN) 12.6% HIGHER; announced its submission for Marketing Authorization for lenzilumab in COVID-19, begun in June 2021, has been accepted by the United Kingdoms (UKs) Medicines and Healthcare Products Regulatory Agency (MHRA) for expedited COVID-related rolling review, with assessment expected to occur more rapidly than a standard rolling review.

Novan (NASDAQ: NOVN) 11.8% HIGHER; Cantor Fitzgerald initiates coverage with an Overweight rating and a price target of $30.00.

iBio, Inc. (NYSEA: IBIO) 7% HIGHER; has taken another major step towards leveraging the speed and throughput of its proprietary, plant-based FastPharming Protein Expression System® by announcing today it is adding three anti-cancer targets to its pipeline of therapeutic candidates. This development establishes the Companys new drug discovery capabilities announced just a few weeks ago.

SMART Global Holdings, Inc. (Nasdaq: SGH) 4.7% LOWER; launch of a proposed underwritten public offering of 3,000,000 of its ordinary shares by certain selling shareholders affiliated with Silver Lake (the Selling Shareholders). The Company is not selling any of its ordinary shares in the offering and will not receive any of the proceeds from the sale of its ordinary shares by the Selling Shareholders.

General Motors (NYSE: GM) 4.9% HIGHER; Wedbush initiates coverage with an Outperform rating and a price target of $85.00.

Ballard Power Systems (NASDAQ: BLDP) 4% HIGHER; received a purchase order for 15 of the Company's 70-kilowatt (kW) FCmoveTM-HD fuel cell modules from Tata Motors ("Tata"; www.tatamotors.com), headquartered in Mumbai, India, to power 15 of Tata's zero-emission Fuel Cell Electric Buses (FCEBs). Ballard plans to complete delivery of all modules by 2022. The buses are planned for deployment in Faridabad, the largest city in the National Capital Region of Delhi.

Duck Creek Technologies (NASDAQ: DCT) 3.5% LOWER; reported Q3 EPS of $0.03, $0.04 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $67.9 million versus the consensus estimate of $63.79 million. Duck Creek Technologies sees Q4 2021 revenue of $68.5-69.5 million, versus the consensus of $67.5 million.

Far Peak Acquisition Corporation (NYSE: FPAC) 3.8% HIGHER; Bullish, a technology company focused on developing financial services for the digital assets sector, announced it intends to go public on the New York Stock Exchange through a merger with Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company (SPAC"). Bullish is preparing to release a revolutionary, regulated cryptocurrency exchange that offers deep, predictable liquidity with technology that enables retail and institutional investors to generate yield from their digital assets.

BioNTech SE (NASDAQ: BNTX) 3.3% HIGHER; Partner Pfizer plans to ask U.S. regulators to authorize a booster dose of its COVID-19 vaccine within the next month.

PriceSmart (NASDAQ: PSMT) 2.9% HIGHER; reported Q3 EPS of $0.73, versus $0.41 reported last year. Revenue for the quarter came in at $895.3 million, versus $799.93 million reported last year.

Levi (NYSE: LEVI) 1.5% HIGHER; reported Q2 EPS of $0.23, $0.15 better than the analyst estimate of $0.08. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.21 billion.

Costco Wholesale (NASDAQ: COST) 1% HIGHER; U.S. comps rose 12.1%, or 7.8% ex-gas.

Core Laboratories (NYSE: CLB) 0.8% LOWER; Morgan Stanley downgraded from Overweight to Equalweight with a price target of $38.00 (from $40.00).

Pfizer (NYSE: PFE) 0.6% HIGHER; plans to ask U.S. regulators to authorize a booster dose of its COVID-19 vaccine within the next month.

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