Pre-Open Stock Movers 05/03: Western Digital Gains on Elliott Activism; Chegg, Estee Lauder Sink on Lackluster Guidance (more...)

Pre-Open Stock Movers:

Spero Therapeutics , Inc. (Nasdaq: NASDAQ:SPRO) 71% LOWER; announces new strategic direction, cuts 75% of workforce.

Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA) 52% HIGHER; the company and partner the MicroSafe Group DMCC, received EPA approval for Nanocyn as a hospital-grade disinfectant in the United States.

Chegg (NYSE:CHGG) 39% LOWER; reported Q1 EPS of $0.32, $0.08 better than the analyst estimate of $0.24. Revenue for the quarter came in at $202.2 million versus the consensus estimate of $201.28 million. Chegg sees Q2 2022 revenue of $188-192 million, versus the consensus of $209.3 million.

Western Digital (NASDAQ:WDC) 12% HIGHER; Elliott Investment Management discloses stake, calls for separation of hard disk drives (HDD) and NAND flash memory (Flash) business.

Estee Lauder (NYSE:EL) (EL) 10% LOWER; reported Q3 EPS of $1.90, $0.23 better than the analyst estimate of $1.67. Revenue for the quarter came in at $4.25 billion versus the consensus estimate of $4.32 billion. Estee Lauder sees FY2022 EPS of $7.05-$7.15, versus the consensus of $7.57.

AST SpaceMobile, Inc. (ASTS) 9% HIGHER; received an experimental license from the Federal Communications Commission (FCC) supporting its U.S.-based testing of the BlueWalker 3 satellite.

Harmonic (NASDAQ:HLIT) 7% HIGHER; reported Q1 EPS of $0.08, $0.04 better than the analyst estimate of $0.04. Revenue for the quarter came in at $147.4 million versus the consensus estimate of $136.4 million. Harmonic sees Q2 2022 revenue of $144-154 million, versus the consensus of $143.9 million.

Monolithic Power Systems (NASDAQ:MPWR) 7% HIGHER; reported Q1 EPS of $2.45, $0.19 better than the analyst estimate of $2.26. Revenue for the quarter came in at $377.7 million versus the consensus estimate of $360.52 million. Monolithic Power Systems sees Q2 2022 revenue of $420-440 million, versus the consensus of $378.3 million.

Freshpet (NASDAQ:FRPT) 7% LOWER; reported Q1 EPS of ($0.40), $0.01 worse than the analyst estimate of ($0.39). Revenue for the quarter came in at $132.2 million versus the consensus estimate of $126.42 million. Freshpet sees FY2022 revenue of at least $575 million, versus the consensus of $576.99 million. To offer $350 million in common stock.

Avis Budget Group (NASDAQ:CAR) 6% HIGHER; reported Q1 EPS of $9.99, $6.54 better than the analyst estimate of $3.45. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.11 billion.

Chemours (CC) 6% HIGHER; reported Q1 EPS of $1.46, $0.56 better than the analyst estimate of $0.90. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.56 billion. FY 2022 Adjusted EBITDA is now expected to be between $1.475 billion and $1.575 billion vs. prior guidance of between $1.3 billion and $1.425 billion. Free Cash Flow is expected to be greater than $550 million vs. prior guidance of greater than $500 million.

Nutrien (NYSE:NTR) 4% HIGHER; reported Q1 EPS of $2.70, $0.01 worse than the analyst estimate of $2.71. Nutrien sees FY2022 EPS of $16.20-$18.70, versus the consensus of $14.73.

Expedia (NASDAQ:EXPE) 2% HIGHER; reported Q1 EPS of ($0.47), $0.10 better than the analyst estimate of ($0.57). Revenue for the quarter came in at $2.25 billion versus the consensus estimate of $2.24 billion.

The Mosaic Company (NYSE:MOS) 2% LOWER; reported Q1 EPS of $2.41, in-line with the analyst estimate of $2.41. Revenue for the quarter came in at $3.9 billion versus the consensus estimate of $4.08 billion.

Clorox (NYSE:CLX) 2% LOWER; reported Q3 EPS of $1.31, $0.32 better than the analyst estimate of $0.99. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.81 billion. Clorox sees FY2022 EPS of $4.05-$4.30, versus the consensus of $4.18.

NXP Semiconductors (NASDAQ:NXPI) 1% HIGHER; reported Q1 GAAP EPS of $2.48, which does not compare to the analyst estimate of $3.17. Revenue for the quarter came in at $3.14 billion versus the consensus estimate of $3.1 billion. NXP Semiconductors sees Q2 2022 revenue of $3.175-3.375 billion, versus the consensus of $3.15 billion.