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Pre-Open Movers: Bed Bath Crashes on Cohen Sale, Foot Locker Jumps on New CEO

Stock Markets Aug 19, 2022 09:22
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Pre-Open Stock Movers:

Bed Bath & Beyond (BBBY) 38% LOWER; Ryan Cohen confirmed he liquidated his entire 9.5 million share stake.

Foot Locker , Inc. (NYSE:FL) 26% HIGHER; While the company lowered FY guidance, Wall Street is bullish on the new CEO Mary Dillion who was former CEO at Ulta.

Axsome Therapeutics (NASDAQ:AXSM), Inc. (AXSM) 23% HIGHER; the FDA has approved AUVELITYTM extended-release tablets for the treatment of major depressive disorder (MDD) in adults.

Bill.com (BILL) 20% HIGHER; reported Q4 EPS of ($0.03), $0.11 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $200.2 million versus the consensus estimate of $183.16 million. Bill.com sees Q1 2023 EPS of $0.05-$0.07, versus the consensus of ($0.09). Bill.com sees Q1 2023 revenue of $208-211 million, versus the consensus of $187.6 million. Bill.com sees FY2023 EPS of $0.23-$0.38, versus the consensus of ($0.34). Bill.com sees FY2023 revenue of $955.5-973.5 million, versus the consensus of $879.7 million.

Microvast (MVST) 18% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $8.00.

OSI Systems (NASDAQ:OSIS) 9% LOWER; reported Q4 EPS of $1.96, $0.01 better than the analyst estimate of $1.95. Revenue for the quarter came in at $337 million versus the consensus estimate of $336.4 million. OSI Systems sees FY2023 EPS of $6.02-$6.25. OSI Systems sees FY2023 revenue of $1.24-1.28 billion, versus the consensus of $1.18 billion.

Wayfair Inc. (NYSE W) 8% LOWER; announced a workforce reduction involving approximately 870 employees.

23andMe Holding Co. (ME) 8% LOWER; Steven Schoch to resign as CFO.

Madison Square Garden Entertainment (MSGE) 7% HIGHER; the board of directors has authorized the company’s management to explore a potential spin-off that would create two companies - (1) a separately-traded public company comprised of its traditional live entertainment business and the MSG Networks business, and (2) the company’s MSG Sphere and Tao Group Hospitality businesses.

Deere (NYSE:DE) & Co. (DE) 4% LOWER; reported Q3 EPS of $6.16, $0.48 worse than the analyst estimate of $6.64. Revenue for the quarter came in at $13 billion versus the consensus estimate of $12.96 billion. Net income attributable to Deere & Company for fiscal 2022 is forecast to be in a range of $7.0 billion to $7.2 billion.

HP, Inc. (NYSE:HPQ) 4% LOWER; Wells Fargo downgraded from Equal Weight to Underweight with a price target of $30.

The Buckle (NYSE:BKE) 3% HIGHER; reported Q2 EPS of $1.02, $0.12 better than the analyst estimate of $0.90. Revenue for the quarter came in at $302 million versus the consensus estimate of $304.33 million.

Robinhood Markets , Inc. (NASDAQ:HOOD) 3% LOWER; reports drop in July trading activity.

Meta Platforms, Inc. (META) 2% LOWER; price target cut to $225 at Morgan Stanley.

General Motors Co. (NYSE:GM) 2% HIGHER; announced today that its Board of Directors has authorized the reinstatement of a quarterly cash dividend. GM also announced it will resume opportunistic share repurchases.

Pre-Open Movers: Bed Bath Crashes on Cohen Sale, Foot Locker Jumps on New CEO
 

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