Pre-Open Stock Movers 11/18: (LGVN) (M) (NVDA) Higher; (LTRX) (CLOV) (BABA) Lower (more...)
Pre-Open Stock Movers:
Longeveron Inc. (NASDAQ: LGVN) 33% HIGHER; announced today that the U.S. Food and Drug Administration (FDA) has granted Rare Pediatric Disease (RPD) designation for Lomecel-B for the treatment of Hypoplastic Left Heart Syndrome (HLHS), a rare and life-threatening congenital heart defect in infants. Lomecel-B, an investigational allogeneic, bone marrow-derived medicinal signaling cell (MSC) product, is currently being evaluated in a Phase 2 trial.
Lantronix, Inc. (NASDAQ: LTRX) 14.9% LOWER; announced the pricing of an underwritten public offering of 4,700,000 shares of its common stock at a price to the public of $7.50 per share.
Macy's (NYSE: M) 13.5% HIGHER; reported Q3 EPS of $1.23, better than the analyst estimate of $0.31. Revenue for the quarter came in at $5.44 billion versus the consensus estimate of $5.2 billion. Comparable sales up 37.2% on an owned basis and up 35.6% on an owned-plus-licensed basis versus 2020; up 8.9% and up 8.7%, respectively, versus 2019. Macy's sees FY2021 EPS of $4.57-$4.76, versus the consensus of $3.89. Macy's sees FY2021 revenue of $24.12-24.28 billion, versus the consensus of $23.78 billion.
Victoria's Secret & Co. (NYSE: VSCO) 12.2% HIGHER; reported Q3 EPS of $0.81, $0.10 better than the analyst estimate of $0.71. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.46 billion. Victoria's Secret & Co. sees Q4 2021 EPS of $2.35-$2.65, versus the consensus of $2.80. sales to be in the range of flat to up 3% versus last year’s fourth quarter sales of $2.100 billion.
Clover Health Investments, Corp. (Nasdaq: CLOV) 10% LOWER; announced the pricing of its previously announced underwritten public offering of 52,173,913 shares of its Class A Common Stock at a price of $5.75 per share
Arcus Biosciences, Inc. (NYSE: RCUS) 10% HIGHER; Gilead Sciences, Inc. (Nasdaq: GILD) and Arcus Biosciences, Inc. (NYSE: RCUS) today announced that Gilead has exercised its options to three programs in Arcuss clinical-stage portfolio, including both anti-TIGIT molecules, domvanalimab and AB308, as well as etrumadenant and quemliclustat. The companies also added a research collaboration as described below. Todays transaction is subject to applicable antitrust clearance under the Hart-Scott Rodino Antitrust Improvements Act and other customary closing conditions. The parties expect the transaction to close by year-end.
NVIDIA (NASDAQ: NVDA) 9.4% HIGHER; reported Q3 EPS of $1.17, $0.06 better than the analyst estimate of $1.11. Revenue for the quarter came in at $7.1 billion versus the consensus estimate of $6.83 billion. NVIDIA sees Q4 2022 revenue of $7.4 billion, versus the consensus of $6.86 billion.
Kohl's (NYSE: KSS) 8.8% HIGHER; reported Q3 EPS of $1.65, $1.04 better than the analyst estimate of $0.61. Revenue for the quarter came in at $4.6 billion versus the consensus estimate of $4.27 billion. Third quarter comparable sales increase 14.7% Kohl's sees FY2021 EPS of $7.10-$7.30, versus the consensus of $6.08
Alibaba (NYSE: BABA) 8.2% LOWER; reported Q2 EPS of $1.74, $0.19 worse than the analyst estimate of $1.93. Revenue for the quarter came in at $31.15 billion versus the consensus estimate of $32.05 billion.
Cisco Systems (NASDAQ: CSCO) 5.7% LOWER; reported Q1 EPS of $0.82, in-line with the analyst estimate of $0.82. Revenue for the quarter came in at $12.9 billion versus the consensus estimate of $13.03 billion. Cisco Systems sees Q2 2022 EPS of $0.80-$0.82, versus the consensus of $0.82. Revenue: 4.5% to 6.5% growth year over year. Cisco Systems sees FY2022 EPS of $3.38-$3.45, versus the consensus of $3.42.
Sonos (NASDAQ: SONO) 4.4% HIGHER; reported Q4 EPS of $0.08, $0.14 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $359.5 million versus the consensus estimate of $360.23 million. Sonos sees FY2022 revenue of $1.925-2 billion, versus the consensus of $1.86 billion.
The Kraft Heinz Company (Nasdaq: KHC) 1.9% LOWER; announced a secondary offering of shares of its common stock (the Offering). In the Offering, which is subject to market and other conditions, certain affiliates of 3G Global Food Holdings LP (the Selling Stockholder) intend to offer 30,596,465 shares of common stock (Common Stock) for sale. The Company will not receive any proceeds from the Offering.