First Look Analyst Calls Briefing for Tuesday, November 22, 2022\u00a0
This report was sent to Briefing.com subscribers earlier today.
> Activision Blizzard (ATVI) upgraded to Outperform from Neutral at Robert W. Baird; tgt $95
> Airbnb (ABNB) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $100
> CSG Systems (CSGS) initiated with an Outperform at Oppenheimer; tgt $75
> CTS Corp (CTS) initiated with a Hold at Jefferies; tgt $44
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Pre-market Movers: EBON, SLS, IXHL, ATTO, NXL…
The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 06.50 A.M. ET).
In the Green
SELLAS Life Sciences Group, Inc. (SLS) is up over 15% at $2.97
Atento S.A. (ATTO) is up over 11% at $7.80
Nexalin Technology, Inc. (NXL) is up over 11% at $2.28
Selina Hospitality PLC (SLNA) is up over 10% at $4.55
Celanese Corporation (CE) is up over 6% at $105.97
Cross Country Healthcare, Inc. (CCRN) is up over 5% at $36.39
Vipshop Holdings Limited (VIPS) is up over 5% at $9.38
iQIYI, Inc. (IQ) is up over 5% at $2.99
In the Red
Ebang International Holdings Inc. (EBON) is down over 17% at $5.50
Incannex Healthcare Limited (IXHL) is down over 12% at $3.60
Tenon Medical, Inc. (TNON) is down over 10% at $2.65
Atlis Motor Vehicles, Inc. (AMV) is down over 9% at $9.20
Zoom Video Communications, Inc. (ZM) is down over 8% at $73.50
Satixfy Communications Ltd. (SATX) is down over 5% at $29.53
American Eagle Outfitters Inc. Q3 Earnings Summary
American Eagle Outfitters Inc. (AEO) announced earnings for third quarter that decreased from the same period last year in line with the Street estimates.
The company’s earnings came in at $81.27 million, or $0.42 per share. This compares with $152.22 million, or $0.74 per share, in last year’s third quarter.
Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 2.4% to $1.24 billion from $1.27 billion last year.
American Eagle Outfitters Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $81.27 Mln. vs. $152.22 Mln. last year.
-EPS (Q3): $0.42 vs. $0.74 last year.
-Analyst Estimates: $0.22
-Revenue (Q3): $1.24 Bln vs. $1.27 Bln last year.
Marker Therapeutics Announces FDA’s Clearance Of IND For MT-601
Marker Therapeutics, Inc. (MRKR) announced the FDA has cleared the Investigational New Drug application for MT-601 for the treatment of patients with locally advanced unresectable or metastatic pancreatic cancer in combination with front-line chemotherapy. The company plans to initiate a multicenter Phase 1 trial for the treatment of patients with locally advanced unresectable or metastatic pancreatic cancer in combination with front-line chemotherapy in 2023.
“The FDA’s clearance of our IND for MT-601 is a significant milestone for Marker as we prepare for our third planned clinical trial evaluating our multiTAA-specific T cell therapy next year,” said Peter Hoang, CEO of Marker Therapeutics.
For More Such Health News, visit rttnews.com.
Warner Music Group Stock Jumps 12% On Q4 Results
Shares of Warner Music Group Corp. (WMG) are gaining over 12% on Tuesday morning after fourth-quarter results beat Wall Street estimates, despite “challenging macro environment.”
WMG is currently trading at $30.38, up $3.40 or 12.60%, on the Nasdaq. The stock opened its trading at $27.11 after closing Monday’s trading at $26.98. The stock has traded between $21.57 and $44.64 in the past 52-week period.
Warner Music’s fourth-quarter profit rose to $150 million compared to $30 million, last year. Class A earnings per share was $0.28 compared to $0.05. Analysts had expected profit of $0.13 per share for the quarter.
Revenues rose to $1.50 billion from $1.38 billion last year. Revenue was up 8.8% or up 16.0% in constant currency. Analysts had a consensus estimate of $1.41 billion.
Steve Cooper, CEO, Warner Music Group, said, “Our strong fourth quarter and full year results were driven by our talented artists, songwriters, and teams, across a wide range of genres, geographies, and generations. Against the backdrop of a challenging macro environment, we once again proved music’s resilience, with new commercial opportunities emerging all the time.”
Agilent Technologies Gains On Q4 Revenue Growth
Agilent Technologies, Inc. (A) shares are gaining on Tuesday morning trade after the company reported higher fourth-quarter revenues compared to the prior year.
The provider of diagnostics and research services quarterly revenue of $1.85 billion, higher than $1.66 billion in the previous year.
Looking ahead to the full year 2023, the company’s outlook is in the range of $6.90 to $7.00 billion, representing reported growth of 0.8 2.2 percent growth and core growth of 5 to 6.5 percent.
For the first-quarter revenue, guidance is in the range of $1.68 to $1.70 billion, representing reported growth of 0.4 to 1.6 percent.
Currently, shares are at $155.63, up 7.23 percent from the previous close of $145.14 on a volume of 755,824.