Impax Laboratories IncIPXL shares fell 7.3 percent to $18.50 in pre-market trading. Impax Labs and Amneal Pharma agreed to merge in an all-stock transaction. Sonic CorporationSONC fell 4.7 percent to $23.65 in pre-market trading. Sonic reported better-than-expected profit for its fourth quarter, while sales missed estimates. Leading Brands, Inc (USA)LBIX fell 4.6 percent to $2.69 in pre-market trading after climbing 24.23 percent on Monday. Kitov Pharmaceuticals Holdings Ltd (ADR)KTOV fell 4.5 percent to $2.53 in the pre-market trading session after slipping 0.38 percent on Monday. Sociedad Quimica y Minera de Chile (ADR)SQM shares fell 4 percent to $59.00 in pre-market trading after rising 2.59 percent on Monday. Vical IncorporatedVICL fell 3.9 percent to $2.75 in pre-market trading. Vical is expected to report Q3 financial results on Monday, October 23. Sanchez Energy CorpSN shares fell 3.7 percent to $4.20 in pre-market trading after gaining 1.40 percent on Monday. Veritone IncVERI shares fell 3.5 percent to $30.44 in pre-market trading after declining 13.00 percent on Monday. Abeona Therapeutics IncNASDAQ: ABEO) fell 2.7 percent to $16.25 in pre-market trading. Abeona Therapeutics priced 5 million share public offering of common stock at $16.00 per share. Helios and Matheson Analytics IncHMNY fell 2.6 percent to $20.37 in pre-market trading after gaining 2.50 percent on Monday.
Diffusion Pharmaceuticals IncDFFN rose 39.8 percent to $2.25 in pre-market trading after the company disclosed that it has received FDA protocol guidance for Phase 3 clinical trial with TSC in patients newly diagnosed with inoperable glioblastoma multiforme. MagneGas CorporationMNGA rose 14.87 percent to $0.540 in pre-market trading after the company announced the sale of a gasification unit for $1.58 million in Europe. Transenterix IncTRXC rose 11.1 percent to $3.12 in pre-market trading after climbing 92.47 percent on Monday. Synchronoss Technologies, Inc.SNCR shares rose 10.3 percent to $15.15 in pre-market trading after the company reported the conclusion of strategic alternative process. The company announced plans to double down on Communications & Media business and divest non-core assets through agreement to sell Intralinks business to Siris for $1 billion. LiNiu Technology GroupLINU rose 9.5 percent to $2.30 in pre-market trading after surging 17.98 percent on Monday. Medigus Ltd.MDGS gained 8 percent to $2.58 after surging 9.63 percent on Monday. Fibria Celulose SA (ADR)FBR shares rose 6.4 percent to $18.00 in the pre-market trading session after gaining 3.68 percent on Monday. Social Reality IncSRAX rose 6.3 percent to $3.05 in the pre-market trading session after the company announced plans to explore strategic alternatives for the SRAXmd healthcare business. Ignyta IncRXDX rose 6 percent to $14.20 after the company disclosed that it has been granted Priority Medicines designation by the EMA for entrectinib. Spirit Airlines IncorporatedSAVE shares rose 4.9 percent to $35.10 in pre-market trading following an 8-K filing with the SEC. The company says total revenue per available seat mile for the third quarter of 2017 is expected to tumble by 6.5 percent year-over-year. However, results for September were better than in the same month last year. Immune Design CorpIMDZ rose 4.5 percent to $10.55 in pre-market trading as the company reported FDA feedback on Phase 3 clinical trial design for CMB305 in synovial sarcoma patients. Pearson PLC (ADR)PSO shares rose 4.3 percent to $8.55 in pre-market trading after declining 2.03 percent on Monday. Natural Health Trends Corp.NHTC rose 4.3 percent to $20.71 in pre-market trading after falling 20.34 percent on Monday. Turkcell Iletisim Hizmetleri A.S. (ADR)TKC rose 4.1 percent to $9.59 in pre-market trading after slipping 0.22 percent on Monday. Secoo Holding Ltd – ADRSECO shares rose 3.6 percent to $8.60 in pre-market trading after gaining 1.72 percent on Monday.
10 Stocks To Watch For October 17, 2017 Some of the stocks that may grab investor focus today are: Wall Street expects Morgan StanleyMS to report quarterly earnings at $0.82 per share on revenue of $9.07 billion before the opening bell. Morgan Stanley shares rose 0.22 percent to $49.05 in after-hours trading. Analysts expect International Business Machines Corp. IBMto post quarterly earnings at $3.28 per share on revenue of $18.57 billion after the closing bell. IBM shares declined 0.22 percent to $146.51 in after-hours trading. Before the markets open, UnitedHealth Group IncUNH is projected to report quarterly earnings at $2.55 per share on revenue of $50.37 billion. UnitedHealth shares rose 0.67 percent to $194.50 in after-hours trading. Netflix, Inc. NFLXreported upbeat sales for its third quarter. Domestic subscribers grew by 850,000 in the quarter (estimates called for about 770,000) and Netflix saw 4.45 million new international subscribers. Netflix shares gained 1.29 percent to $205.30 in the after-hours trading session. Analysts are expecting Goldman Sachs Group IncGS to have earned $4.15 per share on revenue of $7.47 billion in the latest quarter. Goldman Sachs will release earnings before the markets open. Goldman Sachs shares declined 0.17 percent to $242.00 in after-hours trading. After the markets close, CSX CorporationCSX is expected to post quarterly earnings at $0.54 per share on revenue of $2.81 billion after the closing bell. CSX shares climbed 1.74 percent to $53.76 in after-hours trading. Wall Street expects Harley-Davidson IncHOG to report quarterly earnings at $0.41 per share on revenue of $966.83 million before the opening bell. Harley-Davidson shares rose 0.02 percent to $46.58 in after-hours trading. Sonic CorporationSONC reported better-than-expected profit for its fourth quarter, while sales missed estimates. Sonic shares dropped 3.23 percent to $24.00 in the after-hours trading session. Analysts expect Johnson & JohnsonJNJ to report quarterly earnings at $1.8 per share on revenue of $19.29 billion before the opening bell. Johnson & Johnson shares gained 0.13 percent to $136.30 in after-hours trading. Before the opening bell, W W Grainger IncGWW is estimated to report quarterly earnings at $2.57 per share on revenue of $2.65 billion. Grainger shares slipped 0.42 percent to $181.60 in after-hours trading.
Companies Reporting Before The Bell Goldman Sachs Group IncGS is expected to report quarterly earnings at $4.15 per share on revenue of $7.47 billion. Johnson & JohnsonJNJ is projected to report quarterly earnings at $1.8 per share on revenue of $19.29 billion. Morgan StanleyMS is expected to report quarterly earnings at $0.82 per share on revenue of $9.07 billion. UnitedHealth Group IncUNH is estimated to report quarterly earnings at $2.55 per share on revenue of $50.37 billion. W W Grainger IncGWW is expected to report quarterly earnings at $2.57 per share on revenue of $2.65 billion. Harley-Davidson IncHOG is projected to report quarterly earnings at $0.41 per share on revenue of $966.83 million. Omnicom Group Inc. OMCis estimated to report quarterly earnings at $1.1 per share on revenue of $3.68 billion. Comerica IncorporatedCMA is expected to report quarterly earnings at $1.18 per share on revenue of $809.05 million. Progressive CorpPGR is projected to report quarterly earnings at $0.39 per share on revenue of $7.02 billion. Synovus Financial Corp. SNVis expected to report quarterly earnings at $0.65 per share on revenue of $333.51 million. Companies Reporting After The Bell International Business Machines Corp. IBMis estimated to post quarterly earnings at $3.28 per share on revenue of $18.57 billion. Lam Research CorporationLRCX is expected to post quarterly earnings at $3.27 per share on revenue of $2.46 billion. CSX CorporationCSX is projected to post quarterly earnings at $0.54 per share on revenue of $2.81 billion. Select Comfort Corp. SCSSis estimated to post quarterly earnings at $0.68 per share on revenue of $415.23 million. Canadian Pacific Railway Limited (USA) CPis projected to post quarterly earnings at $2.45 per share on revenue of $1.33 billion. Wipro Limited (ADR) WITis expected to post quarterly earnings at $0.07 per share on revenue of $2.16 billion. Cree, Inc. CREEis projected to post quarterly earnings at $0.05 per share on revenue of $360.24 million. Interactive Brokers Group, Inc. IBKRis estimated to post quarterly earnings at $0.34 per share on revenue of $362.27 million. IDEX CorporationIEX is projected to post quarterly earnings at $1.06 per share on revenue of $562.24 million. Navient CorpNAVI is estimated to post quarterly earnings at $0.52 per share on revenue of $365.40 million.
Data on import and export prices for September will be released at 8:30 a.m. ET. The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET. Data on industrial production for September will be released at 9:15 a.m. ET. The housing market index for October is schedule for release at 10:00 a.m. ET. The Treasury will auction 4-week bills at 11:30 a.m. ET.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, June 5, 2017. Yip TV Said to Offer $9.50/Share for MagicJack The Rumor: YipTV is offering $9.50 per share tpo buy MagicJack VocalTec Ltd CALL, according to sources as reported by Axios. Sources say YipTV has negotiated approximately a $95 million credit facility through Goldman Sachs to help in financing a deal. MagicJack announced a strategic alternatives process in March. MagicJack closed at $7.65 on Monday, up $1.05. GTCR, Carlyle in Talks to Acquire Albany Molecular Research The Rumor: Private equity firm GTCR LLC and Carlyle Group LP CG are in talks to jointly take Albany Molecular Research, Inc. AMRI private, according to sources as reported by Reuters. Albany Molecular Research, GTCR and Carlyle did not immediately respond to requests for comment on the report. Albany Molecular Research closed at $19.77, down $0.40. Verizon Considers $100M Investment in Pandora The Rumor: Verizon VZ is considering a potential $100 million investment in Pandora Media P, according to sources as reported by the New York Post. That offer is said to come if Pandora doesn’t reach a deal to sell itself to SiriusXM, the sources said. The Post confirmed on May 17 that SiriusXM was holding active talks regarding an acquisition of Pandora and the offer is said to be between $11 and $12 per share, though earlier discussions may have been around $13. Pandora and Verizon declined comment. SiriusXM did not respond to requests for comment. Wedbush Analyst Michael Pachter told Benzinga, “I don’t think it’s accurate…Think SiriusXM makes much more sense, don’t see a fit with Verizon at all.” Pandora closed at $9.48, up $0.18. Rite Aid Says Actively Engaged in Discussions with FTC Regarding Merger, Store Sale The Memo: Rite Aid RAD sent the following memo to its employees on Monday with regarding to its proposed merger with Walgreens Boots Alliance WBA: “Today we wanted to provide you with an update regarding our pending merger with Walgreens Boots Alliance and the proposed sale of certain Rite Aid stores to Fred’s FRED. The Federal Trade Commission’s (FTC) review of our proposed merger has taken longer than expected, which has had a negative impact on our results. As a management team, we regret that this has created uncertainty and a challenging work environment for all of us at Rite Aid. We greatly appreciate the dedication you’ve displayed during this time and your tremendous efforts to serve our customers and support our fellow Rite Aid associates. We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval and there can be no guarantee that the merger will be approved. However, we expect a decision sometime soon.” Rite Aid closed at $3.75, up $0.07.
Insider Trading: Purchases Insider Price Amount Relationship Remaning Holdings Date Form 4 Ng $1.85 36,600 Large Shareholder, Officer, Director 3,036,600 2017-05-25 Filing
Goldman Sachs analyst Waqar Syed believes frac sand fundamentals are becoming “Very Tight“ Analyst expects frac sand prices to continue to march higher for next several years. Goldman Sachs Analyst comments: “We believe investors are overly concerned about regional supply additions … Practical issues such as permitting, contracting and infrastructure constraints will likely limit supply adds” Analyst raised raised his price target on U.S. Silica Holdings (NYSE: SLCA) to $64.00 while maintaining a “BUY” rating. Raised 2017 EBITDA estimate from $284.9 million -to- (new) $351.1 million This positive view … Constitutes an upward revision of +23.00 percent He also raised his 2018-2020 EBITDA average estimates from $636 million to $658 million. FY 2017 EPS estimate rises from $1.27 to $1.80 FY 2018 EPS estimate rises from $3.35 to $3.51 FY 2019 EPS estimate rises from $4.06 to $4.21.
Michael Kors Holdings Ltd KORS 10.3% shares are trading lower by $3.65 (down 10 percent) at $33.07 in Wednesday’s session. Before the open, the company reported a fourth-quarter EPS beat of $0.03 along with a slight revenue beat. However, the Street is focusing on its much lower guidance for Q1 and fiscal year 2018 EPS and sales. After a lower open, it had a brief spike to $33,85 before continuing its move lower. So far, the ensuing decline has taken the issue to $32.55 and is now attempting to remain in the $33.00 handle. The issue is now trading at levels not seen since February 2012, when it bottomed at $30.76
Following the market opening Wednesday, the Dow traded down 0.32 percent to 20,962.22 while the NASDAQ declined 0.53 percent to 6,170.63. The S&P also fell, dropping 0.29 percent to 2,405.94. Leading and Lagging Sectors; Non-cyclical consumer goods & services sector was the top gainer in the US market on Wednesday. In trading on Wednesday, basic materials shares fell 0.86 percent. Meanwhile, top losers in the sector included Cliffs Natural Resources Inc CLF 7.74%, down 9 percent, and Koppers Holdings Inc. KOP 7.08%, down 8 percent. Top Headline; Michael Kors Holdings Ltd KORS 10.3% posted a loss for its fourth quarter loss and announced plans to close between 100 and 125 stores over the next 2 years. The company also issued a weak earnings forecast for the current quarter. However, the company’s adjusted earnings for the fourth quarter exceeded expectations. Michael Kors posted Q4 earnings of $0.73 per share on revenue of $1.06 billion. However, analysts were expecting earnings of $0.70 per share on revenue of $1.05 billion. Equities Trading UP; J.Jill Inc JILL 9.86% shares shot up 12 percent to $12.63. J Jill posted Q1 earnings of $0.24 per share on sales of $166.1 million. J Jill expects Q2 earnings of $0.27 to $0.29 per share. Shares of Mechel PAO (ADR) MTL 9.6% got a boost, shooting up 11 percent to $5.64. Mechel’s net profit for the first quarter surged to 13.9 billion roubles ($245 million), from 312 million roubles in the year-ago period. Columbus McKinnon Corp. CMCO 9.1% shares were also up, gaining 11 percent to $27.03. Columbus McKinnon posted Q4 adjusted earnings of $0.40 per share on revenue of $183.7 million. Equities Trading DOWN;Michael Kors Holdings Ltd KORS 10.3% shares dropped 9 percent to $32.99 after the company posted a loss for its fourth quarter loss and announced plans to close between 100 and 125 stores over the next 2 years. The company also issued a weak earnings forecast for the current quarter. Shares of EnerSys ENS 8.93% were down 8 percent to $76.50 after the company posted downbeat quarterly earnings. Koppers Holdings Inc. KOP 7.08% was down, falling around 8 percent to $34.65. Jefferies downgraded Koppers Holdings from Buy to Hold. Commodities; In commodity news, oil traded down 2.22 percent to $48.56 while gold traded up 0.26 percent to $1,269.00. Silver traded down 0.44 percent Wednesday to $17.35, while copper fell 0.08 percent to $2.562. Eurozone; European shares were higher today. The eurozone’s STOXX 600 gained 0.43 percent, the Spanish Ibex Index rose 0.67 percent, while Italy’s FTSE MIB Index gained 0.56 percent. Meanwhile the German DAX climbed 0.77 percent, and the French CAC 40 rose 0.51 percent while U.K. shares rose 0.68 percent. Economics; The Johnson Redbook Retail Sales Index declined 1.1 percent during the first four weeks of May versus April. The Chicago PMI declined to a reading of 55.2 in May, versus 58.3. The pending home sales index dropped 1.3 percent to 109.8 in April, versus a revised reading of March. Economists were expecting a 0.3 percent gain in April. The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET. Data on farm prices for May will be released at 3:00 p.m. ET. San Francisco Federal Reserve Bank President John Williams is set to speak in Seoul at 7:30 p.m. ET.