Pre-Open Stock Movers:
Rigel (NASDAQ: RIGL ) Pharmaceuticals, Inc. (Nasdaq: RIGL) 46% LOWER; announced top-line efficacy and safety data from the FORWARD Phase 3 clinical trial, a global, multi-center, randomized, double-blind, placebo-controlled trial of fostamatinib in patients with warm autoimmune hemolytic anemia (wAIHA). The trial did not demonstrate statistical significance in the primary efficacy endpoint of durable hemoglobin response in the overall study population.
DBV Technologies (Nasdaq: DBVT) 21% HIGHER; announced that its pivotal Phase 3 trial EPITOPE (EPIT in TOddlers with PEanut Allergy), assessing the safety and efficacy of Viaskin™ Peanut 250 µg for the treatment of peanut-allergic toddlers ages 1 to 3 years, met its primary endpoint.
The Lovesac Company (NASDAQ: LOVE ) 14% LOWER; reported Q1 EPS of $0.12, $0.33 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $129.4 million versus the consensus estimate of $115.02 million.
The Scotts Miracle-Gro Company (NYSE: SMG ) 13% LOWER; said a variety of factors prompted the Company to lower its outlook for both sales and adjusted earnings for fiscal 2022.
Dutch Bros Inc. (BROS) 6% LOWER; JPMorgan (NYSE: JPM ) downgraded from Overweight to Neutral with a price target of $40.00.
Wintrust Financial Corporation (NASDAQ: WTFC ) 5% LOWER; commenced an underwritten public offering of 2,700,000 shares of its common stock.
Smartsheet (NYSE: SMAR ) 5% LOWER; reported Q1 EPS of ($0.18), $0.01 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $168.3 million versus the consensus estimate of $162.56 million. Smartsheet sees Q2 2023 EPS of ($0.21)-($0.19), versus the consensus of ($0.17). Smartsheet sees Q2 2023 revenue of $180-181 million, versus the consensus of $179.5 million. Smartsheet sees FY2023 EPS of ($0.67)-($0.59), versus the consensus of ($0.66). Smartsheet sees FY2023 revenue of $756-761 million, versus the consensus of $752.6 million.
DocuSign (NASDAQ: DOCU ) 4% HIGHER; announced an expansion of its global strategic partnership with Microsoft (NASDAQ: MSFT ) to accelerate how people collaborate and come to agreement in the anywhere economy.
Affirm Holdings Inc. (NASDAQ: AFRM ) 4% LOWER; Wedbush initiates coverage with an Underperform rating and a price target of $15.00.
Intel (NASDAQ: INTC ) 3% LOWER; CFO issued a negative update at a conference overnight, although the company didn't formally cut guidance. Citi expects a negative pre-announcement or a Q2 miss.
Ollie's Bargain Outlet (OLLI) 3% LOWER; reported Q1 EPS of $0.20, $0.10 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $406.7 million versus the consensus estimate of $417.24 million. Ollie's Bargain Outlet sees Q2 2022 EPS of $0.32-$0.35, versus the consensus of $0.33. Ollie's Bargain Outlet sees Q2 2022 revenue of $450-460 million, versus the consensus of $449.4 million. Ollie's Bargain Outlet sees FY2022 EPS of $1.83-$1.98, versus the consensus of $2.13. Ollie's Bargain Outlet sees FY2022 revenue of $1.87-1.90 billion, versus the consensus of $1.9 billion.
Allogene Therapeutics, Inc. (Nasdaq: NASDAQ: ALLO ) 2% HIGHER; announced that the U.S. Food and Drug Administration (FDA) granted Regenerative Medicine Advanced Therapy (RMAT) designation to ALLO-501A in relapsed/refractory LBCL. The RMAT designation was based on the potential of ALLO-501A to address the unmet need for patients who have failed other therapies.
Campbell Soup (NYSE: CPB ) 2% HIGHER; reported Q3 EPS of $0.70, $0.09 better than the analyst estimate of $0.61. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.05 billion. Campbell Soup sees FY2022 EPS of $2.75-$2.85, versus the consensus of $2.78.
Novavax , Inc. (Nasdaq: NASDAQ: NVAX ) 1% HIGHER; announced the U.S. Food and Drug Administration (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted 21 to 0, with one abstention, to recommend that the FDA grant Emergency Use Authorization (EUA) for the Novavax COVID-19 vaccine (NVX-CoV2373) for individuals aged 18 years and over.
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