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Some optical component firms finish lower as B. Riley gets cautious B. Riley FBR's Dave Kang spent two day days at the Optical Fiber Communication conference, and comes away incrementally more cautious on the component sector. Aside from Lumentum (NASDAQ:LITE), curretly with a deal to acquire Oclaro (NASDAQ:OCLR), most U.S.-based vendors are cautious on growth prospects in China this year, he writes, and Japanese vendors were more optimistic than those in the U.S. --though that doesn't yet mean Japanese firms are taking share from American companies. (h/t Bloomberg) Kang has a Buy rating on Lumentum, but is Neutral on Applied Optoelectronics (NASDAQ:AAOI), which slid 8% during the session today. He's also Neutral on Finisar (NASDAQ:FNSR), which declined 6.4% and is currently the subject of heavy speculation about its M&A prospects. Lumentum declined 2.7% today; Oclaro fell 1.4%. Meanwhile NeoPhotonics (NYSE:NPTN) rose 2% and II-VI (NASDAQ:IIVI) closed up 1.1%. Previously: Analysts: Challenges for Finisar in LumentumOclaro deal (Mar. 12 2018) Previously: Finisar marks worst day in months as analysts process gloom (Mar. 09 2018)
CRSP
| 7:44 PM
Crispr +1.9% as Guggenheim gets bullish on CAR-T approach Crispr Therapeutics (NASDAQ:CRSP) is up 1.9% after hours after getting a bullish price target from Guggenheim. The firm boosted its target to a Street-high $85 from $35, pointing to a "potentially best-in-class" allogeneic CAR-T approach that may be disruptive to immuno-oncology. The allogeneic approach uses donor cells for CAR-T rather than a patient's own, and are currently approved only for blood cancers, but Guggenheim is looking to the possibility that such donor cells could be used to attack solid tumors (and in particular kidney cancer).
PRPL
| 7:11 PM | 1 Comment
Purple -12.1% after earnings, CEO departure Along with earnings today, Purple Innovation (NASDAQ:PRPL) announced its chief executive has departed for other opportunities. Shares are down 12.1% postmarket. CEO Sam Bernards has exited, and co-founder and Chairman Terry Pearce will serve as interim CEO during a replacement search. The company will use an executive search firm. "Under Sam's leadership, we dramatically expanded our sales, operations and brand awareness, strengthened our executive team, and completed our transition to a public company," Pearce says.
AMRS
| 6:24 PM
After Hours Gainers / Losers (3/15/2018) Top gainers: AMRS +19.7%. KODK +10.1%. KEYW +9.7%. CATB +5.7%. AUPH +3.5%. Top losers: OSTK -8.2%. GEMP -5.2%. SABR -5.2%. W -3.2%. CAAP -2.7%.
ADBE
| 5:37 PM
Adobe's upside Q2 guidance Adobe Systems (NASDAQ:ADBE) outlines its upside Q2 guidance in the earnings call transcript. Q2 revenue is expected around $2.15B (consensus: $2.14B) with Digital Media revenue growth of 25% and net new Digital Media ARR at $330M. Digital Experience revenue growth expected at 15%. EPS expected around $1.53 (consensus: $1.51). Tax rate: 13% on GAAP basis and 11% non-GAAP. Adobe shares are up 3.3% aftermarket to $226.09. Previously: Adobe Systems beats by $0.11, beats on revenue (March 15) Previously: Adobe +3.4% on Q1 beats, 30% Subscription growth (March 15)
JBL
| 4:55 PM | 3 Comments
Jabil +3.4% on Q2 beats, in-line guidance Jabil (NYSE:JBL) shares gain 3.4% aftermarket on Q2 results that beat EPS and revenue estimates with 19.1% Y/Y revenue growth. In-line Q3 guidance has revenue from $4.75B to $5.05B (consensus: $4.82B) and EPS from $0.35 to $0.55 (consensus: $0.45). More Q3 guidance: Diversified Manufacturing Services revenue is expected to grow 10% on the year. Electronics Manufacturing Services is expected to post an 8% growth. Key metrics: Diversified Manufacturing Services revenue growth, 38%; Electronics Manufacturing Services growth, 7%; cash and equivalents, $940.8M; total liabilities, $9.2B; SG&A, $243.9M; R&D, $8.3M. Press release Previously: Jabil beats by $0.04, beats on revenue (March 15)
VIVE
| 4:42 PM
Viveve Medical misses by $0.06, revenue in-line Viveve Medical (NASDAQ:VIVE): Q4 EPS of -$0.53 misses by $0.06. Revenue of $5.1M (+108.2% Y/Y) in-line. Shares +7.54%. Press Release
KODK
| 4:30 PM
Eastman Kodak reports Q4 results Eastman Kodak (NYSE:KODK): Q4 net income of $129M Revenue of $414M (-4.2% Y/Y) Shares +15.1%. Press Release
ADBE
| 4:29 PM | 9 Comments
Adobe +3.4% on Q1 beats, 30% Subscription growth Adobe Systems (NASDAQ:ADBE) gains 3.4% aftermarket on Q1 results that beat estimates with a 24% Y/Y revenue growth. Revenue breakdown: Subscription, $1.79B (+30% Y/Y); Product, $171.6M (-6%); Services and support, $113.98M (-0.3%). Segment revenue: Digital Media sales totaled $1.46B with Creative at $1.23B and Document Cloud at $231M. Digital Experience revenue was $554M (+16%). Segment Annualized Recurring Revenue: Digital Media ARR grew to $5.72B (up $336M Q/Q). Creative ARR reached $5.07B and Document Cloud ARR grew to $647M. Key metrics: Cash flow from operations, $990M; deferred revenue, $2.57B (+25% Y/Y); share repurchase, 1.6M shares with $301M in cash returned to shareholders; total operating expenses, $1.1B; cash and equivalents, $2.67B; long-term debt, $1.87B. Earnings call is scheduled for 5 PM ET with webcast available here. Press release Previously: Adobe Systems beats by $0.11, beats on revenue (March 15)
ADBE
| 4:29 PM | 7 Comments
Adobe Systems beats by $0.11, beats on revenue Adobe Systems (NASDAQ:ADBE): Q1 EPS of $1.55 beats by $0.11. Revenue of $2.08B (+23.8% Y/Y) beats by $30M. Shares +1.25%. Press Release
AMRS
| 4:08 PM
Amyris beats by $0.54, beats on revenue Amyris (NASDAQ:AMRS): Q4 EPS of $0.61 beats by $0.54. Revenue of $80.59M (+262.4% Y/Y) beats by $12.45M. Shares +10%. Press Release
INTC
| 4:03 PM | 4 Comments
Intel's new processors come with a Spectre fix Intel (NASDAQ:INTC) says the upcoming Cascade Lake Xeon processors will include “redesigned parts of the processor to introduce new levels of protection through partitioning” to protect against variants of the Spectre chip flaw. The portioning will also appear in the 8th gen Intel Core processors. Both of the new processors will ship in 2H18. Don’t want to upgrade your Intel CPU? Keep up with the firmware updates (now available for 100% of products launched within the past five years) for Spectre protection. Intel shares are down 1.6% to $51. Previously: Intel declares $0.30 dividend (March 15)
EPD
| 3:35 PM | 5 Comments
Enterprise Products says FERC tax ruling not seen having material impact Enterprise Products Partners (EPD -2%) trims earlier losses of as much as 9% after saying today's FERC policy revision is not expected to have a material impact to its earnings and cash flow. The FERC said earlier today that it would revise its earlier policy so that it no longer allows interstate pipelines owned by MLPs to recover an income tax allowance in the cost of service. "We do not expect the revisions to the FERC's policy on the recovery of income taxes to materially impact our earnings and cash flow," EPD says. "The cost-based tariff rates that are in effect for all of our interstate pipelines are based on a cost of service for those pipelines whereby the disallowance for the recovery of an income tax allowance will not have a material effect, if any, to the posted tariffs."
ISNS
| 3:03 PM | 9 Comments
Technology - Top Gainers / Losers as of 2.55 pm (3/15/18) Gainers: ISNS +36%. COGT +17%. RUBI +13%. PTI +11%. ELTK +12%. Losers: ASUR -19%. BITA -12%. NETE -10%. GRVY -9%. CPAH -8%.
WIT
| 2:55 PM
Wipro invests $2M for minority stake in AI startup Wipro (NYSE:WIT) picks up a minority stake in AI startup Avaamo for $2.02M. Wipro will make additional investments through convertible note conversions that will take the total investment up to $3.02M and a stake of under 20% on a fully diluted basis. Avaamo provides an AI enterprise bot platform that speeds up the deployment of enterprise bots for employees and customers. Wipro shares are up 0.9% to $5.68.
CME
| 2:23 PM
CME considering a bid for NEX Group CME Group's potential offer for NEX would give the futures trading giant access into the inter-dealer brokerage business. The London-listed NEX Group Plc, formerly ICAP, has a $3.5B market cap, and the two companies are having preliminary discussions right now. Both stocks are up today, with CME +1.4% and NEX +2.2% at London close.
OSN
| 2:22 PM | 3 Comments
Energy/Materials - Top Gainers / Losers as of 2:00 pm (3/15/2018) Gainers: OSN +14%. SMTS +13%. DELT +13%. HNRG +7%. SDPI +6%. Losers: YTEN -28%. RKDA -23%. SND -17%. EEP -16%. EEQ -15%.
MDXG
| 2:01 PM | 3 Comments
MiMedx sees Q1 sales above $92M; investors unmoved, shares down 4% MiMedx (MDXG -3.9%) projects Q1 sales of more than $92M, at least 4% above consensus of $88.6M. It reiterates its 2018 sales guidance of $383M - 387M (consensus is $384.9M). Investors remain wary of the outcome of an investigation into its business practices. Previously: MiMedx denies claims in Bloomberg report; shares -1.6% (Feb. 27) Previously: MiMedx postpones release of Q4 results on internal investigation into sales/distribution practices; shares halted (Feb. 20)
LCUT
| 1:49 PM | 5 Comments
More on Lifetime Brands's Q4 Lifetime Brands (LCUT -9.1%) reports revenue growth of 6.5% in Q4, on a constant currency basis. Sales break-up: U.S. wholesale: $143.33M (-8.3%, -8.4% on a constant currency basis); International: $38.33M (+9.4%, +2.4% on a constant currency basis); Retail direct: $7.61M (-5.5%, -5.5% on a constant currency basis). Gross margin rate improved 20 bps to 39%. Adjusted EBITDA margin rate down 230 bps to 10.5%. Operating margin rate squeezed 540 bps to 5.9%. Inventory -2.1% Y/Y to $132.44M.
RXII
| 1:47 PM
RXi Pharma adds to rally, up 31% Thinly traded nano cap RXi Pharmaceuticals (RXII +31%) is up on a 13x surge in volume. Shares have more than doubled since last week as shares attempt to break a longterm downtrend. No particular news accounts for the action. The company's lead candidate is RXI-109, a self-delivering RNAi therapeutic in Phase 2 development for the reducing dermal scarring following surgery and in Phase 1/2 development for reducing the progression of subretinal fibrosis in patients with advanced neovascular age-related macular degeneration. In January, it announced a revamped strategy to extend its cash runway while accelerating development of candidates RXI-762 and RXI-804. At the end of September 2017, it had ~$5.4M in unrestricted cash and operations consumed $7.3M over the first three quarters of 2017 so additional capital will be needed. Previously: RXi Pharma announces business strategy to focus on immuno-oncology programs to accelerate growth (Jan. 16)
NXPI
| 1:42 PM | 3 Comments
Deutsche Bank resumes NXP Semiconductors after quashed Broadcom deal Deutsche Bank resumes coverage on NXP Semiconductors (NXPI) with a Hold rating and $127.50 price target, a 4% upside to yesterday’s close. Firm says Broadcom’s (AVGO +3%) quashed takeover of Qualcomm (QCOM -0.3%) makes it more likely that Qualcomm will complete the NXP acquisition. The only outstanding regulatory approval remaining is China’s MOFCOM and the firm assumes that will happen given the prior regulatory approvals. Deutsche thinks the deal will close within weeks of receiving the approval and Qualcomm could make comments on its Q1 earnings call. Source: Briefing.com. Previously: Trump issues order to block Broadcom takeover of Qualcomm (March 12) Previously: Broadcom officially withdraws Qualcomm offer (March 14)
AMZN
| 1:41 PM | 25 Comments
CNBC: AWS planning ready-to-use corporate training Amazon (AMZN -0.4%) Web Services is considering a service that lets company’s show training content to employees, according to CNBC sources. Ready-to-use services could help boost AWS market share in the cloud services market, where the company stands in the lead but has a slower growth rate than competitors Microsoft Azure and Google Cloud. Amazon plans to build the system itself to customize the software. Amazon currently offers online training programs for enterprise partners to train employees on how to use AWS. But the new products would allow the clients to manage any corporate training or learning program through Amazon. Competitors in the space: Cornerstone OnDemand (CSOD -1.3%), Oracle (ORCL +0.5%), Workday (WDAY -0.7%), SAP (SAP +0.4%), and Instructure. Previously: Revealed: Amazon's numbers on Prime Video (March 15)
DXR
| 1:29 PM | 5 Comments
Daxor up 156% on positive blood volume analysis data in heart failure patients Thinly traded nano cap Daxor (DXR +156.4%) rockets on a whopping 128x surge in volume in response to its announcement of real-world data that showed a significant benefit to heart failure patients from the use of blood volume analysis (BVA) performed on its BVA-100 analyzer. The results were presented at the American College of Cardiology Scientific Session & Expo in Orlando, FL. In 245 heart failure patients who received individualized care guided by BVA, the 30-day all-cause mortality was 2.0%, 82% lower than 11.1% in the matched control population (p<0.001), implying a 56% relative reduction in the risk of 30-day readmissions compared to conventionally managed patients. The company says BVA enables clinicians to directly measure a patient's blood volume, a hallmark of heart failure, with 98% accuracy, adding that the data have significant implications for hospitals since they are penalized by Medicare for 30-day heart failure readmission rates if they are above average.
SNAP
| 1:15 PM | 6 Comments
Snap -4.5% as ad draws criticism from Rihanna; company apologizes Snap (NYSE:SNAP) is off 4.5% today amid an ad controversy that's drawn criticism from Rihanna, subject of an ad that made light of a domestic-violence incident involving the pop star. The company's "Impossible Choices" ad for game Would You Rather? asked "Would you rather slap Rihanna or punch Chris Brown?" Brown pleaded guilty to felony assault connected to a 2009 incident when he repeated struck his then-girlfriend Rihanna during Grammy weekend. The company apologized, saying the ad violated guidelines and was approved by mistake. Rihanna has slammed the company in an Instagram story: "I'd love to call it ignorance, but I know you ain't that dumb! You spent money to animate something that would intentionally bring shame to DV victims and made a joke of it! ... Shame on you. Throw the whole app-oligy away." A decline in shares late last month was widely attributed in part to criticism of Snapchat's redesign by celebrity user Kylie Jenner.
CWAY
| 1:01 PM | 24 Comments
Financials - Top 5 Gainers / Losers as of 1:00 PM (03/15/2018) Gainers: CWAY +21%. CARV +12%.OPHC +9%. FSAM +8%. FNHC +5%. Losers: ABDC -19%. CWH -12%. IMH -12%. WHLR -9%. KINS -8%.
EEP
| 1:00 PM | 4 Comments
MLPs suffer sharp losses as FERC nixes income tax allowance cost recovery Master limited partnerships tumble across the board after the Federal Energy Regulatory Commission announces it will no longer allow MLPs to recover an income tax allowance in cost of service rates. MLPs slumping to 52-week lows include EEP -14.6%, WMB -12%, TCP -11.4%, BPL -8.4%, ETE -8.1%, ETP -7%, SNMP -6.6%, PAGP -6.1%, VLP -6%, BWP -4.9%, SHLX -5.5%, ANDX -5.2%, DCP -4.5%. Among other losers: EPD -4%, WPZ -5.5%, MPLX -3%, SEP -6.1%, PAA -4.7%, MMP -6.3%, CQP -2.7%, WGP -1.3%, WES -2.4%, APO -1.4%, EQGP -3.8%, PSXP -4.7%, ENBL -4.2%, BEP -0.7%. ETFs: XLE, AMLP, AMZA, KYN, AMJ, TYG, KYE, JMF, FMO, CEM, CBA, NML, SRV, MLPA, MLPI, FEN, NTG, GER, FEI, KMF, MLPQ, CEN, EMLP, MLPX, EMO, FPL, MIE, GMZ, DSE, MLPG, TTP, SRF, CTR, MLPN, SMM, JMLP, MLPS, AMU, ENFR, ATMP, AMJL, MLPZ, IMLP, ILPRX, AMUB, MLPB, MLPO
DXR
| 12:56 PM | 319 Comments
Midday Gainers / Losers (3/15/2018) Gainers: DXR +156%. KBSF +68%. RXII +40%. ISNS +38%. AKCA +27%. ADAP +22%. CWAY +21%. CVTI +18%. OSN +17%. NDLS +17%. Losers: JILL -35%. YTEN -27%. SPEX -24%. ASUR -21%. ABDC -19%. EVC -18%. SPWH -18%. SFS -17%. SEED -17%. EEP -16%.
AVGO
| 12:50 PM | 3 Comments
Broadcom gains as analysts come back in with top-pick ratings With a dramatic end to the largest-ever tech deal, Broadcom (AVGO +2.7%) is back on the upswing today after analysts resume Buy ratings in a re-evaluation of prospects for the chipmaker. BofA Merrill Lynch resumed coverage as one of its top picks, pointing to factors including a diversified product portfolio, a sector-leading dividend yield and industrytopping operating margin of 48.9%, sustainable long-term organic sales, potential for 40% FCF and a still-discounted trade price. The firm has a $340 price target, implying 27% upside. Meanwhile, RBC's Amit Daryanani reiterates a top-pick stance on Broadcom, and says that the company's next acquisition may look more like its deal for Brocade Communications -- not a "classic" chip company but one fitting parameters like a gross margin over 50% and market cap of $10B-$120B, like Citrix (CTXS +0.5%), NetApp (NTAP -0.7%), Juniper Networks (JNPR +0.3%) or CA (CA -0.2%). (h/t Bloomberg) Deutsche Bank resumed coverage at Buy with a $325 price target; now the company can get back to a strategy of allocating cash between dividends and M&A, Ross Seymore says, expecting a mix shift toward dividends.
SQ
| 12:40 PM | 5 Comments
Bitcoin acceptance a strong catalyst for Square Nomura Instinet The company's push into the crypto world will lead the company higher as merchants' willingness to accept Bitcoin is on the rise. More than 60% of merchants surveyed by the company responded "Yes" to accept Bitcoin as a form of payment. Analyst Dan Dolev wrote, "Like Amazon in its early days, we believe that little of the future revenue streams are currently visible," he adds, "Undoubtedly, the success of the Cash App is a significant achievement, currently an individual can set up the app in minutes and send peer-to-peer payments, store money, receive their paycheck and buy and sell bitcoin." Nomura Instinet reiterated its Buy on Square (SQ -0.1%) with a $64 price target offering 17% upside.
GS
| 12:34 PM | 15 Comments
Goldman to launch a startup incubator at the firm Business Insider The firm wants to launch a start-up incubator open for all employees as it tries to reign in on Wall Street's talent drain. The internal memo seen by Business Insider said, "By applying to GS Accelerate, you will have an opportunity to submit ideas that can deliver best-in-class solutions for our clients, take the firm into new business areas, manage risk, and tackle inefficiencies in our operations." The idea is to have employees pitch their ideas to the firm's senior management where approvals will take place. The mechanics will be tricky since a fixed income trader with an idea in the retail banking space will have face a good deal of scrutiny. Goldman Sachs GS shares are up +1.5% today.
MSFT
| 12:28 PM
Microsoft launches cloud gaming division, offers $250K CPU bug bounty Microsoft (NASDAQ:MSFT) launches a new gaming cloud division. Kareem Choudhry, who has worked on Outlook an Xbox engineering, will head the new division and report to recently appointed gaming head Phil Spencer. Ubisoft already use Microsoft’s Azure cloud service for its Rainbow Six: Siege title across PC, Xbox, and PS4. Microsoft hopes more developers in the future will move to the cloud, which enables easier multiplayer experiences across devices. Microsoft has acquired a few companies in recent years that hinted at a shift towards cloud gaming. The most recent acquisition was PlayFab earlier this year. In other Microsoft news, the company is offering up a $250K bug bounty for “speculative execution” of recently disclosed CPU vulnerabilities that resemble the Meltdown and Spectre CPU flaws that struck Intel. Microsoft shares are up 0.4% to $94.24. Previously: Microsoft acquires backend game platform provider for Azure (Jan. 29)
KBSF
| 12:23 PM | 5 Comments
Consumer - Top Gainers / Losers as of 12:00 pm (3/15/2018) Gainers: KBSF +17%. DFBG +13%. ADOM +9%. ZX +8%. VRA +7%. Losers: SEED -15%. SPWH -13%. VUZI -9%. LCUT -9%.
SVA
| 12:03 PM | 3 Comments
Sinovac confirms reelection of board members In response to alleged misstatements from dissident shareholders and others, Sinovac Biotech Ltd. (SVA +1.7%) announces that all five incumbent board members were properly reelected at the recent Annual Meeting. Apparently, certain parties publicly claimed control of the company.
MON
| 12:02 PM
Monsanto -5% as Bayer tie-up reportedly faces more antitrust hurdles Monsanto (MON -4.6%) shares drop sharply following a Bloomberg report that its pending takeover by Bayer (OTCPK:BAYRY +0.1%) faces additional hurdles for U.S. antitrust approval. The U.S. Justice Department’s antitrust division thinks Bayer’s proposal to sell businesses does not go far enough, and it wants the German company to divest more assets to resolve its concerns, according to the report. Negotiations between the two sides reportedly are continuing and a final decision by the government likely is months away.
MTP
| 11:59 AM | 11 Comments
New chief at Midtech Midatech Pharma (MTP +8.6%) announces that CEO Dr. Jim Phillips will step down at the end of May. COO and Head of R&D Craig Cook, M.D. will succeed him. SVP of Translational Medicine Dr. Steve Damment will succeed Dr. Cook as R&D chief.
IIVI
| 11:56 AM
II-VI initiated at 23% upside DA Davidson starts II-VI (NASDAQ:IIVI) at Buy with a $55 price target, a 23% upside to yesterday’s close Analyst Thomas Diffely cites the company’s “many irons” in the fire. II-VI shares are up 2.2% to $45.78.
JILL
| 11:51 AM | 5 Comments
Bruising day for J. Jill J. Jill (NYSE:JILL) is down 35.5% after the company's earnings report and CEO retirement rattle investors. Guidance from the retailer was also on the alarming side. J. Jill expects comparable sales to fall at a mid single-digit clip in Q1 due to "challenges" in the direct business. Shares of J. Jill traded as low as $4.74. The IPO was priced just over a year ago at $13 per share. Previously: J.Jill announces CEO transition (March 15) Previously: J.Jill beats Q4 estimates (March 15)
XNET
| 11:42 AM | 3 Comments
Xunlei slips despite cloud-juiced revenue doubling Xunlei Limited (NASDAQ:XNET) is 6.7% lower after its delayed Q4 earnings report showed a swing to a gain amid revenues that doubled thanks to cloud computing. Net income from continuing operations came to $3M, vs. a year-ago loss of $8.5M. "Our fourth quarter revenues met our upwardly revised guidance range as our cloud computing business expanded at a fast pace during the fourth quarter of 2017," said CEO Lei Chen. "Our priority for 2018 is to gain market shares and continue to improve the bottom line.” Revenue by segment: Subscription, $22.7M (up 4.5%); Online advertising including mobile, $7.8M; Internet valueadded services, $51.9M (up 431.6%). Cash, equivalents and short-term investments came to $372.4M, down from the prior year's $381.5M. For Q1, it's guiding to revenues of $81M-$85M (a 129% Y/Y gain at the midpoint). Press release
PCTY
| 11:34 AM | 1 Comment
Needham raises its Paylocity target to 18% upside Needham maintains a Buy rating and raises its Paylocity (NASDAQ:PCTY) price target by $5 to $65, an 18% upside to yesterday’s close. Firm came away from investor meetings with CEO Steve Beauchamp feeling positive about the health of end-market demand and believes subscription revenue can grow 20%. Needham believes near-term model leverage from G&A or COGS, rather than S&M, will drive overall EBITDA margins to surpass the prior 20% to 25% goals in the near future. Source: Briefing.com. Paylocity shares are down 0.5% to $54.97.
ACIU
| 11:28 AM
AC Immune to launch first in-human study of PET tracer for Parkinson's in H2 AC Immune (ACIU -0.4%) announces that it plans to initiate a first in-human study of its investigational PET imaging agent for Parkinson's disease (PD). The company says the agent is highly selective for alpha-synuclein aggregates, an established drug target for the disorder. The tracer will enable PD drug developers to monitor the efficacy of PD therapies. The company has been collaborating with Biogen (BIIB +0.3%) on the program for almost two years on a nonexclusive basis. Shares were up over 5% before retracing.
PBR
| 11:24 AM
Petrobras posts loss on settlement costs Petrobras (PBR -2%) is lower after reporting a Q4 net loss of 5.48B reais ($1.68B) and a full-year net loss of 466M reais, weighed by a $3.4B settlement to end a class action lawsuit in the U.S. PBR says it would have earned a net profit of 7.1B reais in 2017 without a series of extraordinary payments, including the settlement ending a class-action lawsuit by U.S. investors who had sought to recoup corruption-related losses. General and administrative expenses fell 19% in 2017 to 9.3B reais after the company cut staff through employee buyouts and reduced expenses. PBR says it cut its net debt to $84.9B at the end of 2017, the lowest level since 2012, lengthened the average life of the debt to 8.6 years from 7.5 years and cut the average interest rate to 5.9% from 6.2%. The results show PBR "is turning the page on problems related to Car Wash," according to Shin Lai, an investment strategist at São Paulo-based Upside Investor. “The change is happening and it’s consistent.”
FEYE
| 11:19 AM | 4 Comments
FireEye +4.3% after The Information discusses acquisition potential FireEye (NASDAQ:FEYE) shares gain 4.3% after a The Information article says Cisco (CSCO +0.6%) and Symantec (SYMC +0.3%) have looked into buying the company. Potential acquirers could want the company for the expertise of CEO Kevin Mandia, who started in the U.S. Army before founding Mandiant, which earned press for tying largescale cybersecurity attacks on U.S. companies to Chinese attackers. Mandiant was sold to FireEye in 2013 for about $900M. Mandia became FireEye’s CEO in mid-2016. Mandia is leading a turnaround effort to stop expanding losses due to slow sales and high spending. He cut the staff by 10% in his first year, reorganized the sales department, and launched a lower cost cloud software product as an alternative to the higher-priced hardware box. But FireEye is still mid-stride in the turnaround. Piper Jaffray analyst Andrew Nowinski on Mandia’s efforts: “Their stock was almost uninvestable. It was hard to see a path to profitability in 2016. Over the past 12 months, he’s really managed to get the business on track.” Key Mandia quote: “If anyone bought us, I’m still along for the ride and we have to operationally manage what we’ve got.”
DXR
| 11:17 AM | 25 Comments
Healthcare - Top 5 Gainers / Losers as of 11:05 am (3/15/2018) Gainers: DXR +77%. AKCA +39%. ADAP +37%. AEMD +18%. RXII +15%. Losers: SELB -15%. IVTY -15%. CPRX -12%. CVRS -11%. ARNA -10%.
VRAY
| 11:06 AM
ViewRay's next-gen MRIdian system OK'd in Japan; shares up 1% The Japanese Ministry of Health, Labor and Welfare has approved ViewRay's (VRAY +1.1%) next-generation MRIdian Linac, an MRI-guided radiation system. MRIdian cobalt was approved there in August 2016.
DDD
| 11:01 AM
Stifel raises its 3D Systems target after earnings Stifel maintains a Hold rating but raises its 3D Systems (NYSE:DDD) price target by a dollar to $12 (15 cents below yesterday’s closing price) after the earnings report. Firm found the revenue trends impressive but watches from the sidelines for an extended period of revenue growth and new product launch details. Source: Briefing.com. 3D Systems shares are up 8.2% to $13.14 with a 52-week range of $7.92 to $23.70. Previously: 3D Systems +11.1% on delayed Q4 beats (March 14)
IONS
| 10:51 AM | 1 Comment
Akcea to commercialize Ionis Pharma's inotersen; shares up 28% Ionis Pharmaceuticals (IONS -4.2%) affiliate and majorityowned Akcea Therapeutics (AKCA +28.1%) is up on 40% higher volume on the heels of its announcement that has secured an exclusive global license to develop and commercialize Ionis' inotersen and IONIS-TTR-Lrx (AKCEA-TTR-Lrx). Inotersen should be approved in the U.S. and EU this summer (FDA action date is July 6) for the treatment of hereditary transthyretin amyloidosis (hATTR). ACKEA-TTR-Lrx will be developed for hereditary and wildtype forms of ATTR. Under the terms of the agreement, Akcea will pay Ionis an upfront licensing fee of $150M in the form of Akcea shares. Ionis, in return, will purchase $200M of Akcea common stock, upping its ownership stake to 75% from 68%. Regulatory approval of inotersen and AKCEA-TTR-Lrx in the U.S. and EU will trigger milestone payments to Ionis of $50M and $40M, respectively. Ionis will receive additional milestone payments upon approvals in other territories. All may be payable in Akcea stock. Commercial profits/losses on inotersen will be split 60/40 between Ionis and Akcea. The split will transition to 50/50 when commercial sales of AKCEA-TTR-Lrx begin. The costs to develop AKCEA-TTR-Lrx and its profits will be equally shared. The transaction should close next quarter. Ionis Chief Business Officer Sarah Boyce will join Akcea as President and board member.
MAXR
| 10:47 AM | 22 Comments
Maxar -2.5% as Credit Suisse cuts to Neutral Maxar Technologies (NYSE:MAXR) is 2.5% lower on the NYSE after a downgrade to Neutral at Credit Suisse. The firm had previously rated Outperform. Maxar said late last month its CFO William McCombe was stepping down. Shares are down 29.5% on NYSE YTD.
SILC
| 10:41 AM
Silicom +2.6% on dividend suspension Silicom Ltd. (NASDAQ:SILC) shares are up 2.6% as the company suspends its dividend in the wake of a canceled large customer order. Silicom says it expects to “close several major, strategic new SD-WAN and NFV-related vCPE Design Wins from major telcos” with the first announcement coming in the “near term.” Silicom says the significant size of these deals, along with the financial terms and required working capital, led to the dividend suspension to help support long-term growth. Previously: Silicom plunges after losing largest order (March 13) Previously: Needham lowers Silicom's price target but says to buy on overreaction (March 14)
ANGI
| 10:31 AM | 3 Comments
ANGI Homeservices +4% as UBS starts at Buy ANGI Homeservices (NASDAQ:ANGI) is up 4% after an initiation at Buy by UBS. The firm joins a bullish group of more than a half-dozen Buy recommendations, and set its price target at $20, implying 29% upside from current price. Shares in ANGI are up 49% YTD.
ADAP
| 10:26 AM
Adaptimmune's NY-ESO SPEAR T-cells shows treatment effect in patients with type of soft tissue cancer; shares ahead 14% Adaptimmune Therapeutics (ADAP +13.8%) is up on modestly higher volume in response to its announcement of positive preliminary results from the first four patients with myxoid/round cell liposarcoma (MRCLS) treated with NYESO SPEAR T-cells. Three of the four patients experienced partial responses. GlaxoSmithKline (GSK -0.1%) has exclusive development and commercialization rights. The transition of the program is in process. Previously: Adaptimmune's NY-ESO SPEAR T-cell therapy shows encouraging effect in synovial sarcoma pilot study (Nov. 9, 2017)
IVTY
| 10:19 AM | 26 Comments
Invuity prices stock offering at $3.50; shares down 13% Invuity (IVTY -12.8%) prices its public offering of 6.2M common shares at $3.50 per share. Underwriters overallotment is an additional 600K shares. Closing date should about March 19.
GBTC
| 10:06 AM
Crypto-world continues its decline as the death of Bitcoin rhetoric is back Google searches and tweets about Bitcoin have fallen sharply, as the digital currency continues its decline. “The general public is now realizing that this is not a riskfree, get-rich-quick, investment opportunity and general interest has since diminished,” said Lucas Nuzzi, a senior analyst at Digital Asset Research. Bitcoin fell under $8,000 to as low as $7,676 for the first time in a month as Google announced a ban in ICO related advertisements. Selling from Mt.Gox trustees is blamed as the key reason for the decline in recent months, but regulatory crackdown, and a rising bearish sentiment have also played their part. The selling is not limited to Bitcoin as more than $60B has been wiped off the market value of cryptocurrencies in the past 24 hours, before prices started to recover. The biggest tokens by market cap are still down in the last week, with Bitcoin at $8,415 down 16% over the last 7 days, Ethereum at $618 is down more than 18%, Ripple at $0.70 is down 18%, and Bitcoin Cash at $939 is down more than 12%. Related Tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, OTCPK:BTLLF SRAX, OTCPK:GAHC, OTC:ARSC, OTCPK:USTC, OTCPK:BLKCF, COINB, LFIN
BITA
| 10:01 AM | 45 Comments
Bitauto -11.3% after earnings with downside revenue guidance Bitauto (NYSE:BITA) is 11.3% lower in early going after its Q4 earnings beat high-end estimates but featured Q1 guidance that lagged strong expectations. Revenues grew by 50% with strong results across segments, and gross profit was up 42% to 1.58B yuan (about $242.7M). Non-GAAP income from operations shrank to 93.5M yuan ($14.4M) from 140.9M yuan; and non-GAAP net income rose 26% to 99M yuan (about $15.2M). Revenue by segment: Advertising and subscription, 1.1B yuan (up 18.2%, about $168.9M); Transaction services, 1.27B yuan (up 115.5%, about $195.2M); Digital marketing solutions, 321.9M (up 39.9%, about $49.5M). For Q1, it's guiding to revenues (ASC 606) of 1.96B-2.01B yuan (up 37.8%-41.3%, about $301.8M-$309.5M, below consensus for $325.6M). Press release
WSM
| 9:57 AM | 4 Comments
Credit Suisse still wary of Williams-Sonoma Credit Suisse is still cautious on Williams-Sonoma (WSM +3%) after taking in the retailer's Q4 results. CS post-earnings analysis: "WSM's sales were better and at the high end of guidance, but still underperformed the industry, while operating profit dollars and margin rate missed guidance and consensus, and were down y/y (the biggest decline since the downturn). Results reflect lower merchandise margins, declining shipping revenue, higher shipping costs, and higher marketing." The investment firm lifts its price target on WilliamsSonoma to $48 from $44, due in part to the lower corporate tax rate, but keeps an Underperform rating on the stock. Previously: Strong guidance lifts Williams-Sonoma (March 14)
BB
| 9:36 AM
Chen to lead BlackBerry through 2023 BlackBerry (BB +1.6%) and Chairman/CEO John Chen have agreed to a contract extension through November 2023. The board has "tremendous confidence" in Chen, according to lead director Prem Watsa; "John engineered a successful turnaround and has the company repositioned to apply its strengths and assets to the Enterprise of Things, an emerging category with massive potential." The new five-year extension is weighted toward long-term performance-based awards and there's no change to Chen's base salary, short-term cash incentive or benefits. He'll receive a time-based award of 5M restricted share units vesting annually in equal tranches, as well as a performance-based cash award if BlackBerry shares go to $30.
RUBI
| 9:35 AM | 17 Comments
Premarket Gainers as of 9:05 am (03/15/2018) RUBI +30% on Q4 result. CWAY +23%. PTI +21% on Q4 result. XXII +18%. TPIV +15% as T-cell vaccine candidate TPIV200 shows encouraging action in early-stage cancer study. ICON +15% on Q4 result. CHFS +14%. RKDA +17%. GLMD +13%. ALXN +10% as long-acting PNH candidate ALXN1210 on par with Soliris in late-stage study. DDD +9% on Q4 result. HMY +9%. DG +8% on Q4 result. SMTC +7% on Q4 result ONCS +7% as clinical and immunological data from its OMS-I140 clinical trial of ImmunoPulse IL-12 in patients with metastatic Triple Negative Breast Cancer has been selected as an oral poster presentation at the upcoming American Association of Cancer Research Annual Meeting. SHLD +7% on Q4 result. ABEO +7% as FDA has granted Rare Pediatric Disease Designation for the ABO-202 program. CLRB +6% on results from two preclinical studies highlighting the potential benefits of fractionated dosing regimens of CLR 131 and the ability of the company’s phospholipid drug conjugates. ADT +6% on Q4 result IDXG +6%. APTO +5% as preclinical data for CG’806, its panFLT3/pan-BTK inhibitor, and APTO-253, its c-Myc inhibitor, will be presented in three separate posters at the 2018 AACR Annual Meeting. LJPC +5% on pricing stock offering at $29.50. SVU +5% on deal to sell Farm Fresh stores for $43M.
JILL
| 9:26 AM | 3 Comments
Premarket Losers as of 9:05 am (3/15/2018) JILL -26% on Q4 earnings. SPEX -18% on announcing public offering of common stock. IVTY -16% on announcing public offering of common stock. LTBR -10% on Q4 earnings. DRD -9%. SEED -6%. ABM -6% after announcing a secondary offering coming from existing shareholders. YTEN -4%. RFIL -4%.
TPIV
| 9:13 AM
TapImmune's T-cell vaccine candidate TPIV200 shows encouraging action in early-stage cancer study; shares ahead 16% premarket Thinly traded nano cap TapImmune (NASDAQ:TPIV) is up 16% premarket on modestly higher volume in response to its announcement of positive results from a Phase 1 clinical trial assessing T-cell vaccine candidate TPIV200 in patients with ovarian and breast cancer. The data were just published in the journal Clinical Cancer Research. TPIV200 was well-tolerated by all patients and over 90% developed robust and durable antigen-specific immune responses against a protein called folate receptor alpha which is overexpressed in a range of cancers. Although the 10-subject trial was not powered for efficacy, the observed median progression-free survival (PFS) was 528 days, significantly above ~313 days for standard-of-care treatment. A Phase 2 study in women with platinum-sensitive ovarian cancer is ongoing. Interim data should be available in mid2019.
HGV
| 9:07 AM | 1 Comment
Hilton Grand Vacations prices secondary offering Hilton Grand Vacations (NYSE:HGV) prices a secondary offering of 22.25M shares at $46.25 per share. The company also bought 2.5M shares directly from selling shareholder HNA at $44.75 per share as part of its share repurchase program. Shares of Hilton Grand Vacations are down 2.38% premarket to $45.88. Previously: Hilton Grand Vacations discloses secondary offering (March 14)
AGEN
| 9:04 AM
Agenus report Q4 results; shares down 4% premarket Agenus (AGEN) Q4 results: Revenues: $8.4M (+50.0%); Operating Loss: ($30M) (-52.3%); Net Loss: ($35M) (-34.1%); Loss Per Share: ($0.35) (-16.7%); Quick Assets: $60.2M (-21.2%). 2018 Milestones: Efficacy data for AGEN 1884 plus Keytruda in 1L NSCLC and planning for BLA filing Efficacy data from AGEN1884 (anti-CTLA-4) and AGEN2034 (anti-PD-1) trials. Formalize regulatory engagements for the above combos for BLA filing. IND filing for next generation CTLA-4 and two undisclosed bispecific antibodies. Start combination trial with our CTLA-4 and PD1 with AGEN neoantigen vaccine AutoSynVax. Complete IND enabling studies for AgenTus Therapeutics lead adoptive cell therapy program. Update on GMP manufacturing: Expanded and upgraded antibody manufacturing capabilities. Produced GMP grade CTLA-4 and PD1 antibodies for our clinical trials and acquired commercial grade AGEN1884 (anti-CTLA-4) and expecting commercial grade AGEN2034 (anti-PD-1) by mid-year. Shares are down 4% premarket on light volume.
OVID
| 8:59 AM | 2 Comments
Ovid's OV101 Fast Track'd in U.S. for Fragile X syndrome; shares ahead 11% premarket Thinly traded micro cap Ovid Therapeutics (NASDAQ:OVID) is up 11% premarket on light volume on the heels of its announcement that the FDA has granted Fast Track status for OV101 for the treatment of Fragile X syndrome, an inherited disorder characterized by learning disabilities and cognitive impairment. Fast Track status provides for more frequent interactions with the FDA review team and a rolling review of the marketing application. A Phase 2 study in males ages 13 - 22 will commence this year. OV101 (gaboxadol) is a delta ()-selective GABAA receptor agonist designed to specifically target the disruption of tonic inhibition, a central physiological process of the brain that is believed to be the cause of certain neurodevelopmental disorders.
BABA
| 8:51 AM
WSJ: Alibaba pursuing listing in mainland China Alibaba (NYSE:BABA) is exploring ways to list its shares in mainland China, according to WSJ sources. The secondary listing could happen as soon as this summer if China’s securities rules change to allow foreign companies to list. Alibaba’s key business is in China, but the company is incorporated in the Cayman Islands. WSJ previously reported that China’s securities regulator has spoken with investment banks about allowing foreign companies to issue securities on the mainland. For Alibaba, the dual listing would give the option of domestic fundraising in local currency. Alibaba’s 2014 listing on the NYSE still stands as the world’s largest IPO with its $25B float. Alibaba shares are up 4.2% premarket to $200.55. Previously: Alibaba participates in $866M round for bikesharing company (March 13)
ZBH
| 8:49 AM | 69 Comments
Premarket analyst action - healthcare Zimmer Biomet Holdings (NYSE:ZBH) initiated with Outperform rating at Raymond James. Shares are up a fraction premarket. Stryker (NYSE:SYK) initiated with Outperform rating at Raymond James. Shares up a fraction premarket. GalMed Pharmaceuticals (NASDAQ:GLMD) upgraded to Buy with a $14 (126% upside) price target at Maxim Group. Shares up 12% premarket. Akcea Therapeutics (NASDAQ:AKCA) upgraded to Outperform at Wells Fargo. Shares up 6% premarket. LIfePoint Health (NASDAQ:LPNT) upgraded to Outperform at Raymond James. Solid Biosciences (NASDAQ:SLDB) downgraded to Underweight at JPMorgan. Shares down 59% premarket on clinical hold of key study. Teladoc (NYSE:TDOC) downgraded to Hold at Deutsche Bank.
SMRT
| 8:42 AM | 2 Comments
Stein Mart pops after earnings, credit transaction Stein Mart (NASDAQ:SMRT) announces that it closed on a new $50M term loan. The company says it amended its credit agreement with Wells Fargo to provide for the repayment of the existing $25M first-in, last-out A-1 tranche of the credit facility. All other key terms of the Credit Facility remain unchanged. CFO update: "This transaction will provide us with additional liquidity bringing our cash and unused borrowing availability today to more than $60 million. This shows the confidence that our lending partners have in our business." SMRT +65% premarket to $1.27. Source: Press Release Previously: Stein Mart reports Q4 results (March 14)
NEOS
| 8:30 AM | 6 Comments
Neos Therapeutics revenues up 126% in Q4 Neos Therapeutics (NEOS +1.1%) Q4 results: Revenues: $7.9M (+125.7%); Operating Loss: ($11.7M) (+30.4%); Net Loss: ($14.2M) (+22.8%); Loss Per Share: ($0.49) (+57.0%); Quick Assets: $50.4M (+26.6%). No guidance given. Shares are up 3% premarket.
LJPC
| 8:30 AM
La Jolla Pharma prices stock offering at $29.50; shares up 1% premarket La Jolla Pharmaceutical (NASDAQ:LJPC) prices its public offering of 3.4M shares of common stock at $29.50 per share. Underwriters over-allotment is an additional 510K shares. Closing date is March 19. Yesterday's close was $29.84. Shares are up 1% premarket on light volume.
GCO
| 8:23 AM
More on Genesco's Q4 beat Genesco (NYSE:GCO) reports comparable sales rose 1% in Q4. Segment comp growth : Journeys Group +11%, Schuh Group +1%, Lids Sports Group -14%, Johnston & Murphy Group +4%. Segment sales: Journeys Group: $452.88M (+15.8%); Schuh Group: $128.13M (+16.3%); Lids Sports Group: $240.99M (-13.6%); Johnston & Murphy Group: $92.38M (+12.5%); Licensed Brands: $15.89M (-23.4%). E-commerce sales rose 15% Y/Y. Gross margin rate fell 40 bps to 46.9%. SG&A expense rate up 50 bps to 40.2%. Adjusted operating margin rate slipped 80 bps to 6.8%. Total retail units -100 Y/Y to 2,694. FY2019 Guidance: Comparable sales: flat to +2%; Adjusted EPS: $3.05 to $3.45; Tax rate: ~26.8%.
MTCH
| 8:17 AM
UBS downgrades Match Group, raises price target UBS downgrades Match Group (NASDAQ:MTCH) from Buy to Neutral. Firm raises its price target from $42 to $48, a nearly 3% upside to yesterday’s close. Source: Briefing.com. Match Group shares are down 1.3% premarket to $46.17.
BKS
| 8:04 AM | 1 Comment
Barnes & Noble shoots higher after guidance update Barnes & Noble (NYSE:BKS) says it expects EBITDA in 2019 of $175M to $200M. The outlook is much higher than the consensus estimate of analysts of $145M. B&N expects fiscal 2019 EBITDA to grow through improved sales trends and expense reductions. The retailer plans to post more information on full-year guidance when it reports FY18 results on or around June 21. SEC Form 8-K Shares of Barnes and Noble are up 10.42% premarket to $5.30.
SLDB
| 8:04 AM | 7 Comments
FDA places Solid Biosciences' DMD study of lead candidate SGT-001 on clinical hold due to adverse event in first patient; shares down 57% premarket Recent IPO Solid Biosciences (NASDAQ:SLDB) slumps 57% premarket on average volume in response to its announcement that the FDA has placed its Phase 1/2 clinical trial assessing SGT-001 in patients with Duchenne muscular dystrophy (DMD) on clinical hold. The agency took action after the first patient dosed experienced a Suspected Unexpected Serious Adverse Reaction (SUSAR). Specifically, several days after the patient, a non-ambulatory adolescent, received 5E13 vg/kg of SGT-001 he was hospitalized due to a decrease on platelet count followed by a reduction in red blood cell count and evidence of complement activation. He showed no signs of a bleeding disorder called coagulopathy (prolonged/excessive bleeding) and no relevant changes from baseline in liver function tests. The company says he responded well to treatment and is currently asymptomatic. All laboratory parameters have either improved or returned to normal and he is being followed on an outpatient basis. The company says it will work closely with the FDA to resolve the issue once it receives the formal Clinical Hold letter which will describe the requirements for resuming the study. Rare Pediatric Disease- and Orphan Drug-tagged SGT-001 is an adeno-associated (AAV) vector-mediated gene transfer designed to deliver a synthetic dystrophin gene called microdystrophin to the body, thereby addressing the underlying cause of DMD. DMD-related tickers: (NASDAQ:SRPT)(NASDAQ:WVE) (NASDAQ:CATB)(NASDAQ:CAPR)(NASDAQ:SMMT)
QRVO
| 8:01 AM | 3 Comments
BofAML downgrades Qorvo to 3% downside Bank of America Merrill Lynch downgrades Qorvo (NASDAQ:QRVO) from Neutral to Underperform. Firm lowers the price target from $85 to $80, a 3% downside to yesterday’s close. Qorvo shares are down 1.7% premarket to $80.79.
AAPL
| 7:59 AM | 3 Comments
EU sets date for Apple-Shazam approval; Apple supplier denies production shutdown EU antitrust regulators will decide by April 23 whether to approve Apple’s (NASDAQ:AAPL) acquisition of music app Shazam. Apple filed for approval yesterday. Seven European countries had previously asked the European Commission to oversee the case. Supplier issue: Chinese news site Commercial Times claims iPhone supplier Wistron was using “unauthorized components” during the production of the iPhone 8 Plus. The news site says Apple ordered a production halt when it found out and production was down for two weeks. Wistron’s statement to Digitimes on the matter says it doesn’t comment on “matters concerning specific clients” and denies a two-week production suspension. But the statement doesn’t outright deny the production issue. The issue, if it existed, was at Wistron’s Chinese operations, where the company is a secondary supplier behind Foxconn. Wistron does serve as the primary iPhone assembler in India. Apple shares are down 0.1% to $178.30. Previously: Former Apple employees discuss Siri problems with The Information (March 14)
TLRD
| 7:39 AM | 10 Comments
Tailored Brands rallies after improved results Shares of Tailored Brands (NYSE:TLRD) break higher after the retailer bests Q4 estimates by a comfortable margin and sets solid guidance. Tailored Brands expects comparable sales for Men's Wearhouse and Jos. A. Bank businesses to be up at a lowsingle-digit rate, Moores comparable sales to be flat-to-up slightly and K&G comparable sales to be flat-to-down slightly. EPS is seen falling in a range of $2.35 to $2.50 vs. $2.29 consensus. CEO outlook: "We believe Tailored Brands is the largest and fastest growing retailer of men's custom clothing in North America and we plan to further enhance and differentiate our custom offering in 2018. We also significantly strengthened our balance sheet, reducing debt by approximately $200 million and lowering inventories by 11%. In 2018, we plan to further reduce our debt, invest behind our growth strategies and return cash to shareholders via our dividend." TLRD +5.56% premarket to $24.50 vs. a 52-week trading range of $9.40 to $26.03.
JILL
| 7:31 AM
J.Jill beats Q4 estimates J. Jill (NYSE:JILL) reports comparable sales growth of 8.9% in Q4. Direct to consumer sales represented 46.6% of sales vs. 48.8% a year ago. Gross margin rate dropped 100 bps to 62.2%. SG&A expense rate leveraged 20 bps to 54.8%. Adjusted EBITDA margin rate down 70 bps to 12.8%. Operating margin rate fell 30 bps to 6.2%. Q1 Guidance: Total comparable sales: To decrease in the mid-single digit range; Diluted EPS: $0.18 to $0.20; Tax rate: ~26%.
ALXN
| 7:31 AM
Alexion's long-acting PNH candidate ALXN1210 on par with Soliris in late-stage study; shares up 11% premarket Alexion Pharmaceuticals (NASDAQ:ALXN) is up 11% premarket on light volume in response to its announcement of successful results from a Phase 3 clinical trial assessing ALXN1210 in patients with paroxysmal nocturnal hemoglobinuria (PNH). The data showed ALXN1210 to be non-inferior to Soliris (eculizumab) by virtue of achieving the co-primary endpoints of transfusion avoidance and normalization of lactate dehydrogenase (LDH) levels, a direct marker of complement-mediated hemolysis in PNH. ALXN1210 also demonstrated non-inferiority to Soliris on all four key secondary endpoints. Detailed results will be submitted for presentation at a future medical conference. ALXN1210 is a long-acting C5 inhibitor that is administered six times per year compared to 26 times per year for Soliris. The company plans to file marketing applications in the U.S., EU and Japan in H2. Management will host a conference call this morning at 8:30 am ET to discuss the results. PNH-related tickers: (NASDAQ:APLS)(NASDAQ:RARX) (NASDAQ:AKTX)(NASDAQ:ACHN)(NASDAQ:FBIO)
| 7:30 AM | 8 Comments
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