Pre-Open Stock Movers:
Kaival Brands Innovations Group Inc (NASDAQ:KAVL) 44% HIGHER; reached an agreement with Philip Morris Products S.A., a wholly owned affiliate of Philip Morris International Inc. (NYSE:PM), for the development and distribution of electronic nicotine delivery system ("ENDS") products in markets outside of the U.S., subject to market (or regulatory) assessment.
Outset Medical Inc (NASDAQ:OM) 22% LOWER; implemented a shipment hold on the distribution of its Tablo Hemodialysis System for home use pending the Food and Drug Administrations (FDA) review and clearance of a 510(k) the company submitted for changes made since the devices original March 2020 clearance.
Oracle (NYSE:ORCL) 14% HIGHER; reported Q4 EPS of $1.54, $0.17 better than the analyst estimate of $1.37. Revenue for the quarter came in at $11.84 billion versus the consensus estimate of $11.68 billion.
Continental Resources, Inc. (NYSE:CLR) 12% HIGHER; Received a $70 per share takeover offer from Harold Hamm
National Vision Holdings Inc. (NASDAQ:EYE) 12% HIGHER; will replace Renewable Energy Group Inc. (NASDAQ:REGI) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, June 16
FedEx (NYSE:FDX) 8% HIGHER; Hikes dividend 53%, adds two new directors in deal with DE Shaw.
US Silica Holdings Inc (NYSE:SLCA) 8% HIGHER; Evercore ISI upgraded from In Line to Outperform with a price target of $20.00.
Braze Inc (NASDAQ:BRZE) 5% HIGHER; reported Q1 EPS of ($0.19), $0.02 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $77.5 million versus the consensus estimate of $72.57 million. Braze, Inc. sees Q2 2023 EPS of ($0.19)-($0.20), versus the consensus of ($0.21). Braze, Inc. sees Q2 2023 revenue of $80.5-81.5 million, versus the consensus of $80.13 million. Braze, Inc. sees FY2023 EPS of ($0.78)-($0.82), versus the consensus of ($0.83). Braze, Inc. sees FY2023 revenue of $345-349 million, versus the consensus of $340.29 million.
MicroStrategy Incorporated (NASDAQ:MSTR) 4% LOWER; Bitcoin falls to $21,000
Coinbase (NASDAQ:COIN) 3% LOWER; plans to reduce its workforce by around 18% with roughly 1,100 employees set to lose their jobs.
Netflix (NASDAQ:NFLX) 2% LOWER; Benchmark downgraded from Hold to Sell with a price target of $157.00.
Best Buy Co Inc (NYSE:BBY) 2% LOWER; BofA Securities downgraded from Buy to Neutral with a price target of $90.00 (from $110.00).