Pre-Open Stock Movers:
Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) 54% LOWER; announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding its New Drug Application (NDA) for VP-102 for the treatment of molluscum contagiosum (molluscum).
Elevation Oncology Inc. (NASDAQ:ELEV) 25% HIGHER; The FDA has granted Fast Track designation to seribantumab for the tumor-agnostic treatment of advanced solid tumors that harbor NRG1 gene fusions. Seribantumab is currently being evaluated in the ongoing Phase 2 CRESTONE study, for which initial data will be presented in an oral presentation at the upcoming American Society of Clinical Oncology (ASCO) 2022 Annual Meeting on Tuesday, June 7, 2022.
Express (NYSE:EXPR) 11% HIGHER; reported Q1 EPS of ($0.10), $0.05 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $450.8 million versus the consensus estimate of $435.74 million. Express sees FY2022 EPS of $0.14-$0.20, versus the consensus of $0.17.
Caleres (NYSE:CAL) 10% HIGHER; reported Q1 EPS of $1.32, $0.49 better than the analyst estimate of $0.83. Revenue for the quarter came in at $735.1 million versus the consensus estimate of $677.28 million. The company now expects consolidated sales levels to be up between 2 percent and 5 percent when compared to fiscal year 2021 and expects earnings per diluted share to be between $4.20 and $4.40, representing another year of record or near-record earnings for the organization.
Wendy's (NASDAQ:WEN) 7% HIGHER; long-time shareholder Nelson Peltz of Trian Fund Management said they are exploring a potential transaction, including a possible merger.
OraSure Technologies Inc. (NASDAQ:OSUR) 5% HIGHER; announced today that its InteliSwab® COVID-19 Rapid Test has been selected by the U.S. Department of Health and Human Services (HHS) to be distributed to schools nationwide. The HHS program provides school districts with at-home COVID-19 test kits to be sent home with students, teachers, and staff to help keep the nation's schools safe as the pandemic continues. Tests provided under this program will be funded as part of OraSure's procurement contract from the Defense Logistics Agency.
Chinook Therapeutics Inc. (NASDAQ:KDNY) 6% LOWER; commenced an underwritten public offering of its common stock.
2U Inc . (NASDAQ:TWOU) 5% LOWER; Piper Sandler analyst Arvind Ramnani downgraded from Neutral to Underweight with a price target of $9.00 (from $10.00).
Nordstrom (NYSE:JWN) 2% HIGHER; reported Q1 EPS of ($0.06), $0.01 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $3.57 billion versus the consensus estimate of $3.27 billion. Nordstrom sees FY2022 EPS of $3.20-$3.50, versus the consensus of $3.12.
Toll Brothers (NYSE:TOL) 2% HIGHER; reported Q2 EPS of $1.85, $0.31 better than the analyst estimate of $1.54. Revenue for the quarter came in at $2.28 billion versus the consensus estimate of $2.06 billion. Backlog value was $11.7 billion at the second-quarter-end, up 35% compared to FY 2021’s second quarter; homes in backlog were 11,768, up 16%.
Intuit (NASDAQ:INTU) 3% HIGHER; reported Q3 EPS of $7.65, $0.07 better than the analyst estimate of $7.58. Revenue for the quarter came in at $5.6 billion versus the consensus estimate of $5.51 billion. Intuit sees FY2022 EPS of $11.68-$11.74, versus the consensus of $11.66. Intuit sees FY2022 revenue of $12.633-12.674 billion, versus the consensus of $12.32 billion.
Trevi Therapeutics (NASDAQ:TRVI) 6% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $10.
Agilent Technologies (NYSE:A) 1% HIGHER; reported Q2 EPS of $1.13, $0.09 better than the analyst estimate of $1.04. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.5 billion. Agilent Technologies sees Q3 2022 EPS of $1.20-$1.22, versus the consensus of $1.12. Agilent Technologies sees Q3 2022 revenue of $1.625-1.65 billion, versus the consensus of $1.56 billion.