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Mercury Guidance Issues Weak Outlook; Stock Down 7%

Pre-market Movers: RDBX, EQOS, CCNC, LIDR, BKKT…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 05.45 A.M. EDT).

In the Green

Redbox Entertainment Inc. (RDBX) is up over 112% at $25.30
Diginex Limited (EQOS) is up over 66% at $7.19
Code Chain New Continent Limited (CCNC) is up over 45% at $2.00
AEye, Inc. (LIDR) is up over 40% at $6.27
Bakkt Holdings, Inc. (BKKT) is up over 36% at $41.69
Ocugen, Inc. (OCGN) is up over 26% at $11.85
Ebang International Holdings Inc. (EBON) is up over 19% at $2.50
Oragenics, Inc. (OGEN) is up over 19% at $0.75
UP Fintech Holding Limited (TIGR) is up over 15% at $10.24
Meten Holding Group Ltd. (METX) is up over 15% at $0.44
Borqs Technologies, Inc. (BRQS) is up over 13% at $0.81
SeqLL Inc. (SQL) is up over 12% at $3.95
Powerbridge Technologies Co., Ltd. (PBTS) is up over 9% at $1.63
Mmtec, Inc. (MTC) is up over 6% at $1.66

In the Red

RISE Education Cayman Ltd (REDU) is down over 18% at $1.21
ShiftPixy, Inc. (PIXY) is down over 13% at $1.52
Greenpro Capital Corp. (GRNQ) is down over 10% at $1.32
Inpixon (INPX) is down over 9% at $0.91
Sonim Technologies, Inc. (SONM) is down over 8% at $2.20
Puxin Limited (NEW) is down over 8% at $0.51
Logitech International S.A. (LOGI) is down over 6% at $83.50
Grom Social Enterprises, Inc. (GROM) is down over 5% at $4.22

SBA Communications Lifts FY21 Outlook

SBA Communications Corp. (SBAC) Monday lifted its outlook for the full year 2021. The company now expects adjusted funds from operations of $10.55 to $10.76 per share and revenues of $2.29 billion to $2.31 billion.

Previously, the company expected adjusted funds from operations of $10.32 to $10.72 per share and revenues of $2.26 billion to $2.30 billion.

Analysts polled by Thomson Reuters currently expect earnings of $3.00 per share on revenues of $2.29 billion.

Bright Horizons Family Solutions Inc Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Bright Horizons Family Solutions Inc (BFAM):

-Earnings: $26.82 million in Q3 vs. -$6.65 million in the same period last year.
-EPS: $0.44 in Q3 vs. -$0.11 in the same period last year.
-Excluding items, Bright Horizons Family Solutions Inc reported adjusted earnings of $38.67 million or $0.64 per share for the period.
-Analysts projected $0.63 per share
-Revenue: $460.33 million in Q3 vs. $337.92 million in the same period last year.

Oil Futures Settle Higher On Demand Hopes

Crude oil prices moved higher on Monday with traders weighing energy demand and supply levels and looking ahead to the upcoming OPEC+ meeting.

Traders noted a rare official statement from China that it will release reserves of diesel and gasoline to increase market supply and support price stability in some regions.

West Texas Intermediate Crude oil futures for December ended higher by $0.48 or about 0.6% at $84.05 an ounce.

WTI futures gained over 11% last month on hopes tight supplies and higher gas bills will encourage a switch to crude for use as a power generation fuel.

Brent crude futures were up $0.91 or 1.1% at $84.63 a barrel a little while ago.

On November 4, the Organization of the Petroleum Exporting Countries (OPEC), Russia and their allies, together called OPEC+, are likely to stick to a planned output increase of 400,000 barrels per day in the month.

The plan ensures adequate crude supply to balance the global market, state news agency KUNA quoted Kuwaiti oil minister Mohammad Abdulatif al-Fares as saying.

Conglomerate Bouygues submits binding offer for Engie's Equans

PARIS, Nov 3 (Reuters) – French construction and telecoms group group Bouygues said it had made a binding offer to acquire Equans, the services unit of French power group Engie . “As stated on Sept. 7, 2021, Bouygues would not require a capital increase to finance this transaction,” added Bouygues, which also said it would disclose more information to the market in due course if necessary.

Simon Property Rises 5% On Improved Q3 Results, Raised FY21 Outlook

Shares of real estate investment trust Simon Property Group, Inc. (SPG) are climbing 5 percent on Tuesday’s trading as the company reported third-quarter profit, which beat the Street estimates. The company also lifted its full year 2021 earnings outlook.

The company’s profit came in at $679.94 million, or $2.07 per share. This compares with $145.93 million, or $0.48 per share, in last year’s third quarter.

Excluding items, Simon Property reported adjusted earnings of $1.03 billion or $3.13 per share for the period, while analysts were looking for earnings of $1.09 per share for the period.

Looking ahead, for fiscal 2021, the company currently estimates earnings of $6.61 to $6.71 per share and FFO of $11.55 to $11.65 per share, up from the earlier $5.47 to $5.57 per share and FFO of $10.70 to $10.80 per share.

Analysts currently expects earnings of $5.55 per share for full year 2021.

Currently at $156.91, the stock has traded between $61.64 and $159.62 during the past 52 weeks.

Mercury Guidance Issues Weak Outlook; Stock Down 7%

Shares of Mercury Systems, Inc. (MRCY) are down nearly 7% in extended session on Tuesday after the company’s issued a weak outlook for the full-year and second-quarter.

The company expects second-quarter earnings of breakeven per share to $0.02 per share. On an adjusted basis, the earnings are expected to be in the range of $0.39 to $0.43 per share. On average, 9 analysts polled by Thomson Reuters expect the net income to be $0.54 per share.

The company expects revenue in the range of $215.0 million to $225.0 million in the next quarter, but the Street view for revenue is $232.15 million.

For the full year, the expected earnings, as projected by the company, is in the range of $0.98 per share to $1.07 per share. After adjustments, the company expects an income of $2.51 to $2.60 per share. The analysts are expecting a net income of $2.50 earnings per share.

The revenue forecast for the company is in the range of $1.00 billion to $1.03 billion. Analyst forecast for full-year revenue is $1.02 billion.