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ASAN - 18% higher after better than expected earnings
ARLO - 2nd day play, closes up over 50% after earnings beat
NLTX - Over 30% higher after announcing review of strategic alternatives, corporate restructuring and layoffs
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ASAN - 18% higher after better than expected earnings
ASANA (ASAN) reported Q4 EPS of -$0.15 vs -$.27 expected. Revenue for the quarter came in at $150.2 million versus $145.08 million consensus. Perhaps more importantly ASAN provided guidance for full year 2024 EPS of -$0.59 to -$0.55 versus the -$0.80 consensus. The CEO also entered into a trading plan to buy up to 30 million shares showing confidence in the company and investors responded positively to the news.
The $21.20 area was support in the pre-market and should be an important pivot level.
Above it, targets to the upside are $22, $23.30 and then the after-hours high of $24.36 with $26 above that.
Below $21.20, there is potential support at $19.25 and then a gap fill to $17.80.
ARLO - 2nd day play, closes up over 50% after earnings beat
Arlo Technologies (ARLO) closed yesterday near the highs of the day, up over 50%. They reported earnings of -$0.04 vs -$0.10 estimate with sales of $118.50 million vs $107.44million estimate. They also guided full year 2023 adjusted EPS between -$0.07 to -$0.01 vs -$0.12 estimated which was the catalyst for the move higher yesterday.
$5.40 was a resistance area yesterday and should be an important pivot level.
Above it, targets to the upside are $5.53 with $5.91, $6 and $6.50 above that. Further targets are at $6.74 and $7.30.
Below $5.40, there is potential support at the $5-$5.08 area with potential support at $4.90, $4.65, $4.30, and then $4.15 below that.
NLTX - Over 30% higher after announcing review of strategic alternatives, corporate restructuring and layoffs
Neoleukin Therapeutics (NLTX) provided a strategic update late Wednesday announcing they had engaged SVB Securities to assist in reviewing strategic alternatives for the company with the goal of maximizing shareholder value.
They also announced a reduction in the company’s workforce by 70% and a leadership transition.
The market has responded positively and the stock is trading over 30% higher in the pre-market.
$0.6850-$0.7000 has acted as an area of support so far in the pre-market.
Above it, $0.73-$0.75 has so far acted as resistance with the after-hours high at $0.78. Above that potential targets are $0.90, $0.95 and then $1.
Below $0.6850 there is potential support at $0.6350, with targets of $0.60, $0.56 and then a gap to fill at $0.5302 below that.
Economic Calendar (EST)
7:30am Challenger job cuts
8:30am Jobless claims
10:00am Fed Speaker Michael Barr
10:30am EIA Nat gas report
Earnings for Today (After Market)
ACHR, AEYE, AGIL, AGS, AIRG, AKA, ALGS, ALTG, ALTO, AMPY, AOUT, APPH, AQMS, ATER, AVO, AVPT, AWRE, BBCP, BIRD, BKKT, BNGO, BWMN, CLSD, CMTL, CRIS, CTSO, DALN, DOCU, DOUG, GEVO, GHLD, GPS, GRTS, HCI, HCP, HGBL, HRT, HYFM, III, INUV, IRIX, JAKK, JSDA, JYNT, LCTX, LIFE, LMNR, LOCO, LRFC, LTM, MTN, MYPS, NNBR, NX, ODC, ONCT, ORCL, PAM, PTMN, QFIN, RAIN, REI, RGLS, SBIG, SMSI, STKS, TGS, TLYS, TOI, ULTA, VEL, WATT, WLDN, YPF, ZUMZ
Top Headlines
SI: Silvergate Capital Corporation Announces Intent to Wind Down Operations and Voluntarily Liquidate Silvergate Bank
NLTX: Neoleukin Therapeutics Provides Strategic Update and Announces Restructuring and Leadership Transition
DRTS: Alpha Tau Announces Alpha DaRT™ Treatment of First Two Patients in its Pivotal Multicenter Recurrent Skin Cancer (ReSTART) Trial
LLY: Lilly Provides Update on A4 Study of Solanezumab for Preclinical Alzheimer's Disease
SWTX: SpringWorks Therapeutics Announces New England Journal of Medicine Publication of Phase 3 DeFi Trial Evaluating Nirogacestat in Adults with Desmoid Tumors
MGNX MacroGenics Announces Sale of TZIELD™ Royalty Interest for up to $200 Million
UUUU: Energy Fuels Announces 2022 Results; Emerging as the Leading US Producer of Critical Minerals with Focus on Uranium and Rare Earth Elements
U.S. FDA-working to address shortage of particular form of albuterol-medication that is used to treat breathing conditions
QGEN: QIAGEN and Servier Partner to Develop Companion Diagnostic for Acute Myeloid Leukemia (AML) Therapy Drug
MASI: New Study Finds That Masimo PVi® Reliably Predicted Fluid Responsiveness in Young Children Undergoing Neurosurgery
AFMD: AbCheck Announces Successful Completion of Research and Development Under Grant to Develop a Novel Microfluidics Technology for Functional Antibody Discovery
BPTS: Biophytis To Present Positive Results of Phase 2-3 COVA Study At ERS 2023 21st Lung Science Conference
SPI: SPI’s Solar4America Showing American-Made 550W C&I Solar Modules at Solar + Wind Finance & Investment Summit 2023
BJ: Total comparable club sales increased by 9.8% year-over-year
Comparable club sales, excluding gasoline sales, increased by 8.7% year-over-year
GENI: NBA and Genius Sports / Second Spectrum Expand Partnership to Deepen NBA League Pass Innovations with Enhanced Basketball Analytics and Develop New Next Gen Platform
PFE: Pfizer ready to launch its rsv vaccine this year in U.S. and EU, pending approval, for both older adults and pregnant women-executives
CLNN: CNM-Au8® Associated With Delayed Time to Key Clinical Progression Events at Six Months Supporting a Survival Benefit in the Healey ALS Platform Trial
NYMT: New York Mortgage Trust Completes One-for-four Reverse Stock Split
NRXP: NRx Pharmaceuticals Announces Close of $2.9 Million Registered Direct Offering
BBW: Build-A-Bear Workshop, Inc. Reports Double-Digit Increase in Both Total Revenues and Pre-Tax Income for Fiscal 2022 and Introduces Expectations for Continued Growth in Fiscal 2023
GRNA: GreenLight Biosciences Outlines Development Strategy and Highlights Portfolio Updates at Human Health R&D Day
ALNY: Alnylam Pharmaceuticals and Medison Pharma Announce the Expansion of Their Collaboration to a Multi-Regional Partnership to Commercialize RNAi Therapeutics
ATAK: Aurora Technology Acquisition Corp. Announces Additional Contribution to Trust Account to Extend Deadline to Consummate Business Combination
IDEX: Made in California: Ideanomics subsidiary US Hybrid and Global Environmental Products begin manufacturing 18 zero-emission street sweepers for Caltrans
ACHR: After Unveiling Its Production Aircraft, Midnight, Last November Archer Nears Completion of Its First Build
FWBI: First Wave BioPharma Announces First Patient Dosed in Phase 2 SPAN Clinical Trial of Enhanced Adrulipase Formulation
HSDT: Helius Medical Technologies Announces Authorization from Health Canada to Market Portable Neuromodulation Stimulator (PoNS®) Device for the Treatment of Gait Deficit Due to Mild and Moderate Symptoms from Stroke
AZN: TAGRISSO® (osimertinib) demonstrated strong overall survival benefit in the ADAURA Phase III trial for adjuvant treatment of patients with early-stage EGFR-mutated lung cancer
TMDI: Titan Medical Announces Decision of Nasdaq Hearings Panel to Delist Common Shares
SNGX: Soligenix Submits Type A Meeting Request to U.S. FDA for HyBryte™ New Drug Application in the Treatment of Cutaneous T-Cell Lymphoma
VITL: Vital Farms Sets Three ESG Goals and Celebrates Progress Towards Improving the Lives of People, Animals, and the Planet Through Food in 2023 Impact Report
SPRC: SciSparc Receives Approval to conduct its Phase IIb Clinical Trial for SCI-110 to treat Tourette Syndrome
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