Today's Pre-Market Stock Movers: KMX, RAD, BBBY, MTN and More

Movers and Shakerswrote a column09/29/2022 20:44

Gapping up

In reaction to earnings/guidance:

• $Vail Resorts(MTN.US)$ +3.7%,$The Duckhorn Portfolio(NAPA.US)$ +2.7%,$Jefferies Financial(JEF.US)$ +1.6%

Other news:

• $Axsome Therapeutics(AXSM.US)$ +4.3% (disclosesplansto resubmit AXS-07 NDA basedonsuccessfulFDAtype a meeting)

• $Invivyd(IVVD.US)$ +4.1% (files for $400mlnmixed securities shelf offering)

• $TRITIUM DCFC LIMITED(DCFC.US)$ +3.1%(tosupply fast chargers for Australia's longest EVhighway)

• $Momentus(MNTS.US)$ +2%(launches3-yr $50mlnat-the-market equity program)

• $MorphoSys(MOR.US)$ +2% (announces data from theongoing L-MINDstudy)

• $Atara Biotherapeutics(ATRA.US)$ +1.6% (to receive additional milestone payment)

• $C4 Therapeutics(CCCC.US)$ +1.2% (received a Study May Proceed LetterfromtheFDAto begin a Phase 1/2 trial for CFT1946 a treatmentofBRAF-V600 mutantsolidtumors)

• $Service Properties Trust(SVC.US)$ +1.1%(to sell 16 hotelsfor $137.3mln)

• $Atlas(ATCO.US)$ +0.9% (confirms receipt of revised proposal from Poseidonto acquire ATCO for $15.50/sh)

Gapping down

In reaction to earnings/guidance:

• $CarMax(KMX.US)$ -14.6%,$Rite Aid(RAD.US)$ -12.5%,$MillerKnoll(MLKN.US)$ -6.1%,$Concentrix(CNXC.US)$ -2.5%,$Bed Bath & Beyond Inc(BBBY.US)$ -1.9%

Other news:

• $Sunlight Financial(SUNL.US)$ -23.4% (withdraws previous FY22 outlook)

• $Altus Power(AMPS.US)$ -15.7% (prices offering of 7.0 mln shares of common stock sold by Blackstone (BX) at $11.50 per share)

• $Catalent(CTLT.US)$ -4.8% (files mixed securities shelf offering)

• $Agree Realty Corp(ADC.US)$ -3.3% (prices 5 mln shares of its common stock at a public offering price of $66.85 per share in connection with the forward sale agreements)

• $voxeljet AG(VJET.US)$ -3.3% (pricing of $4.4 million registered direct offering)

• $Volta(VLTA.US)$ -3.2% (announces organizational realignment; to cut 10% of employees; guides Q3 revs below consensus; withdraws FY22 revenue guidance)

• $Bilibili(BILI.US)$ -1.4% (submitted with the Hong Kong Stock Exchange an announcement of voluntary conversion to dual-primary listing on The Main Board of The Stock Exchange of Hong Kong Limited - will be effective Oct 3)

Analyst comments:

• $Olaplex(OLPX.US)$ -3.5% (downgraded to Neutral from Overweight at Piper Sandler)

• $HUYA Inc(HUYA.US)$ -2.9% (downgraded to Neutral from Buy at UBS)

• $Apple(AAPL.US)$ -2.2% (downgraded to Neutral from Buy at BofA Securities; tgt lowered to $160 from $185)

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