Pre-Open Stock Movers:
La Jolla Pharmaceutical Co (NASDAQ:LJPC) 81% HIGHER; Innoviva Inc (NASDAQ:INVA), a diversified holding company with a portfolio of royalties and a growing portfolio of innovative healthcare assets, and La Jolla Pharmaceutical Company, which is dedicated to the commercialization of innovative therapies that improve outcomes in patients suffering from life-threatening diseases, today announced that they have entered into a definitive merger agreement whereby Innoviva will acquire La Jolla. Innoviva has agreed to pay $5.95 per share
Pliant Therapeutics Inc (NASDAQ:PLRX) 69% HIGHER; announced positive data from INTEGRIS-IPF, a multinational, randomized, double-blind, placebo-controlled Phase 2a clinical trial of PLN-74809 in patients with idiopathic pulmonary fibrosis (IPF). The trial met its primary and secondary endpoints demonstrating that PLN-74809 was well tolerated over a 12-week treatment period and displayed a favorable pharmacokinetic profile. The trial's exploratory efficacy endpoints assessing changes in forced vital capacity (FVC) and Quantitative Lung Fibrosis (QLF) imaging, demonstrated a dose-dependent treatment effect on FVC and QLF versus placebo over 12 weeks in PLN-74809 treated patients.
Digital World Acquisition Corp (NASDAQ:DWAC) 16% HIGHER; gains as Elon Musk drops bid for Twitter.
DigitalOcean Holdings Inc (NYSE:DOCN) 8% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $45.00 (from $61.00).
Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) 7% LOWER; new lockdowns in Macau on COVID outbreaks.
Twitter, Inc. (NYSE:TWTR) 5% LOWER; Elon Musk terminates acquisition
Upstart Holdings Inc (NASDAQ:UPST) 5% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $14.00 (from $40.00).
Las Vegas Sands Corp. (NYSE:LVS) 5% LOWER; new lockdowns in Macau on COVID outbreaks.
Wynn Resorts, Limited (NASDAQ:WYNN) 5% LOWER; new lockdowns in Macau on COVID outbreaks.
Mattel Inc. (NASDAQ:MAT) 4% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $31.00 (from $30.00).
Lululemon Athletica Inc. (NASDAQ:LULU) 4% LOWER; Jefferies downgraded from Hold to Underperform with a price target of $200.00 (from $375.00).
Dutch Bros Inc (NYSE:BROS) 3% LOWER; Baird downgraded from Outperform to Neutral with a price target of $30.00 due to rising macro risks.
Occidental Petroleum (NYSE:OXY) 3% LOWER; Goldman Sachs downgraded from Buy to Neutral with a price target of $70.00.
Qorvo Inc (NASDAQ:QRVO) 3% LOWER; Cowen downgraded from Outperform to Market Perform with a price target of $108.00 (from $150.00).
Meta Platforms Inc (NASDAQ:META) 2% LOWER; Needham & Company downgraded from Hold to Underperform.
Honeywell International (NASDAQ:HON) 2% HIGHER; BofA Securities upgraded from Neutral to Buy.
Zillow Group, Inc. (NASDAQ:ZG) 1% HIGHER; upgraded to Outperform at Wedbush.