Pre-Open Stock Movers:
Apellis Pharmaceuticals, Inc. (Nasdaq: NASDAQ:APLS) 23% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has accepted and granted Priority Review designation for the intravitreal pegcetacoplan New Drug Application (NDA). Pegcetacoplan is an investigational, targeted C3 therapy for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD).
West Fraser Timber (WFG) 22% HIGHER; CVC, Kronospan in joint bid for West Fraser Timber - Reuters
Silvergate Capital (NYSE:SI) 11% HIGHER; reported Q2 EPS of $1.13, $0.28 better than the analyst estimate of $0.85.
The Honest Company (HNST) 8% HIGHER; announced today that it has expanded distribution to Walmart (NYSE:WMT). The brand is now available on Walmart.com and will launch in thousands of Walmart stores in the fall.
Signature Bank (NASDAQ:SBNY) 7% LOWER; reported Q2 EPS of $5.26, $0.20 better than the analyst estimate of $5.06.
Cinemark Holdings (NYSE:CNK) 5% HIGHER; Morgan Stanley (NYSE:MS) upgraded from Equalweight to Overweight with a price target of $22.00.
Arista Networks (ANET) 4% HIGHER; Needham & Company upgraded from Hold to Buy with a price target of $128.00.
Skechers U.S.A., Inc. (SKX) 4% LOWER; new strong sell at Spruce Point.
Block Inc. (SQ) 1% LOWER; Macquarie downgraded from Outperform to Neutral with a price target of $64.00 (from $140.00).
Johnson & Johnson (NYSE:JNJ) 1% HIGHER; reported Q2 EPS of $2.59, $0.04 better than the analyst estimate of $2.55. Revenue for the quarter came in at $24 billion versus the consensus estimate of $23.8 billion. Company maintaining 2022 full-year guidance at midpoints for adjusted operational sales and adjusted operational earnings per share; strengthening U.S. dollar impacting estimate for reported results.