Pre-Open Stock Movers 05/07: (IBIO) (BILL) (AXON) Higher; (CCIX) (APPN) (FROG) Lower (more...)
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Bill.com (BILL) Rises 15% On Narrower Loss, 'Transformative' Divvy Acquisition
May 7, 2021 11:39 AM EDTShares of Bill.com (NYSE: BILL) are up 13.6% in todays trading session after the company reported a narrower loss for its fiscal third quarter, as well as announced the acquisition of Divvy for $2.5 billion which analysts said "appears transformative."
BILL posted a $26.7 million loss in the quarter or $0.02 on an adjusted basis to top the $0.07 expected from analysts. Business sales for the quarter were reported at $59.7 million, which marks a 45% jump year-over-year, and again higher than the $54.6 million consensus.
For its fiscal Q4, the company sees revenue between $60.9... More
Shake Shack (SHAK) PT Lowered to $85 at Stifel
May 7, 2021 10:14 AM EDTStifel analyst Chris O\'Cull lowered the price target on Shake Shack (NYSE: SHAK) to $85.00 (from $90.00) while maintaining a Hold rating.
The analyst commented, "SHAK reported results below investor expectations last night, with stronger nominal SRS resulting in revenue underperformance, coupled with... More
ChemoCentryx (CCXI) Crashes 55% on Mixed AdComm Results, Gets Downgraded at Five Firms
May 7, 2021 9:36 AM EDTShares of ChemoCentryx (NASDAQ: CCXI) crashed 55% in pre-open Friday after the Food and Drug Administration (FDA) raised concerns over the approval application of the product avacopan.
We are grateful to the Committee for their careful deliberations and look forward to working with the FDA as its review of our application continues, said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. Discussion from patients and clinicians during the public forum portion of the meeting underscored the need for new treatment options.
The FDA is primarily concerned that the therapy could not... More
