Pre-Open Stock Movers:
Codexis, Inc. (NASDAQ:CDXS) 25% LOWER; announced preliminary revenue results for the second quarter ending June 30, 2022, and updated its revenue guidance for 2022. Codexis currently expects total revenues for the second quarter of 2022 to be approximately $38 million, and total revenues for full-year 2022 are expected to be in the range of $135 million to $141 million. (Consensus sees Q2 revenue of $40 million and FY revenue of $155 million)
10x Genomics, Inc. (NASDAQ:TXG) 23% LOWER; reports preliminary Q2 results, with revenue expected to be approximately $114.5 million (down 1% year-over-year), missing the Street estimate of $127.7 million.
Vertical Aerospace (NYSE:EVTL) 19% HIGHER; today announces that it has confirmed delivery slots and the commitment of associated pre-delivery payments with American Airlines (NASDAQ:AAL).
Pinterest (NYSE:PINS) 14% HIGHER; Activist investor Elliott Management has taken a 9% stake according to the Wall Street Journal, citing people familiar with the matter.
Sunrun Inc. (NASDAQ:RUN) 8% LOWER; Solar stocks were lower pre-open after Senator Joe Manchin told Democratic leaders he wouldn't support new spending on climate measures and tax increases.
Vonage Holdings Corp. (NASDAQ:VG) 7% HIGHER; Ericsson (BS:ERICAs) today announced that it has received clearance from the Committee on Foreign Investments in the United States (CFIUS) to complete its acquisition of Vonage Holdings. This represents the final requisite approval to complete the deal. The parties now expect the Merger to close no later than July 21, 2022, as provided for in the Merger Agreement.
Citigroup (NYSE:C) 5% HIGHER; reported Q2 EPS of $2.19, $0.54 better than the analyst estimate of $1.65. Revenue for the quarter came in at $19.6 billion versus the consensus estimate of $18.35 billion.
Torrid Holdings Inc. (NYSE:CURV) 5% LOWER; Cowen downgraded from Outperform to Market Perform with a price target of $7.00 (from $11.00).
First Solar (NASDAQ:FSLR) 4% LOWER; Solar stocks were lower pre-open after Senator Joe Manchin told Democratic leaders he wouldn't support new spending on climate measures and tax increases.
Enphase Energy (NASDAQ:ENPH) 4% LOWER; Solar stocks were lower pre-open after Senator Joe Manchin told Democratic leaders he wouldn't support new spending on climate measures and tax increases.
UnitedHealth Group (NYSE:UNH) 3% HIGHER; reported Q2 EPS of $5.57, $0.36 better than the analyst estimate of $5.21. Revenue for the quarter came in at $80.3 billion versus the consensus estimate of $79.68 billion. UnitedHealth Group sees FY2022 EPS of $21.40-$21.90.
Snap Inc. (NYSE:SNAP) 2% HIGHER; gains on PINS news.
BlackRock (NYSE:BLK) 1% LOWER; reported Q2 EPS of $7.36, $1.19 worse than the analyst estimate of $8.55. Revenue was $4.53 billion, versus the consensus of $4.79 billion.
Wells Fargo (NYSE:WFC) 1% LOWER; reported Q2 EPS of $0.74, $0.11 worse than the analyst estimate of $0.85. Revenue for the quarter came in at $17.03 billion versus the consensus estimate of $17.62 billion.