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Pre-Open Stock Movers 06/03: Turning Point Doubles on Takeover; Tesla Falls as Musk Worried About Economy, Cutting 10% of Staff

Published 06/03/2022, 05:10 AM
Updated 06/03/2022, 09:12 AM
© Reuters Pre-Open Stock Movers 06/03: Turning Point Doubles on Takeover; Tesla Falls as Musk Worried About Economy, Cutting 10% of Staff

© Reuters Pre-Open Stock Movers 06/03: Turning Point Doubles on Takeover; Tesla Falls as Musk Worried About Economy, Cutting 10% of Staff

Pre-Open Stock Movers:

Turning Point Therapeutics Inc . (NASDAQ:TPTX) 117% HIGHER; Bristol Myers Squibb (NYSE:BMY) and Turning Point Therapeutics Inc. today announced a definitive merger agreement under which Bristol Myers Squibb will acquire Turning Point Therapeutics for $76.00 per share.

Joann Inc (NASDAQ:JOAN) 17% LOWER; reported Q1 EPS of ($0.22), $0.32 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $498 million versus the consensus estimate of $516.96 million.

Okta Inc . (NASDAQ:OKTA) 16% HIGHER; reported Q1 EPS of ($0.27), $0.07 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $415 million versus the consensus estimate of $389.05 million. Okta, Inc. sees Q2 2023 revenue of $428-430 million, versus the consensus of $422.25 million. Okta, Inc. sees FY2023 revenue of $1.805-1.815 million, versus the consensus of $1.78 million.

StoneCo Ltd (NASDAQ:STNE) 11% HIGHER; reported Q1 adjusted net income of R$132.2 million. Revenue for the quarter came in at R$2.07 billion.

Zumiez Inc . (NASDAQ:ZUMZ) 9% LOWER; reported Q1 EPS of ($0.02), $0.09 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $220.7 million versus the consensus estimate of $217.28 million. Zumiez, Inc. sees Q2 2022 EPS of $0.45-$0.55, versus the consensus of $0.68. Zumiez, Inc. sees Q2 2022 revenue of $232-239 million, versus the consensus of $243.7 million.

Novavax (NASDAQ:NVAX) 9% LOWER; FDA briefing documents showed that the company's vaccine could provide some level of protection against the Omicron variant.

Tesla Inc. (NASDAQ:TSLA) 5% LOWER; Musk worried about the economy, to cut 10% of workforce.

Tilly's Inc. (NYSE:TLYS) 4% LOWER; reported Q1 EPS of $0.03, $0.01 better than the analyst estimate of $0.02. Revenue for the quarter came in at $145.8 million versus the consensus estimate of $145.79 million. Tilly's, Inc. sees Q2 2022 EPS of $0.14-$0.20, versus the consensus of $0.34. Tilly's, Inc. sees Q2 2022 revenue of $170-175 million, versus the consensus of $18.3 million.

Micron Technology (NASDAQ:MU4% LOWER; Piper Sandler downgrading to Underweight (from Neutral).

Kohl's (NYSE:KSS) 3% HIGHER; Two bids are on the table, the WSJ reported overnight. The report followed a separate report from the NYP that the auction was delayed indefinitely.

Cooper Companies Inc (NYSE:COO3% LOWER; reported Q2 EPS of $3.24, $0.19 worse than the analyst estimate of $3.43. Revenue for the quarter came in at $829.8 million versus the consensus estimate of $821 million. Cooper Cos. sees FY2022 EPS of $13.09-$13.29, versus the consensus of $13.74. Cooper Cos. sees FY2022 revenue of $3.28-3.312 billion, versus the consensus of $3.29 billion.

Lululemon Athletica Inc (NASDAQ:LULU2% HIGHER; reported Q1 EPS of $1.48, $0.05 better than the analyst estimate of $1.43. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.53 billion. Lululemon Athletica sees Q2 2022 EPS of $1.82-$1.87, versus the consensus of $1.77. Lululemon Athletica sees Q2 2022 revenue of $1.75-1.775 billion, versus the consensus of $1.71 billion. Lululemon Athletica sees FY2022 EPS of $9.35-$9.50, versus the consensus of $9.28. Lululemon Athletica sees FY2022 revenue of $7.61-7.71 billion, versus the consensus of $7.54 billion.

RH (NYSE:RH) 1% HIGHER; reported Q1 EPS of $7.78, $2.40 better than the analyst estimate of $5.38. Revenue for the quarter came in at $957 million versus the consensus estimate of $924.81 million. Second quarter net revenue in the range of (1%) to (3%), versus up 39% last year, with adjusted operating margin in the range of 23.0% to 23.5%, versus 26.6% a year ago. Fiscal 2022 net revenue growth in the range of 0% to 2%, versus up 32% last year, with adjusted operating margin in the range of 23.0% to 24.0%, versus 25.6% a year ago.

 

 

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