Thursday’s Pre-Market Look: Stocks In The News Before The Open

Macy’s (M) sank almost 10% in pre-market trading after it cut its 2017 EPS forecast to $2.95-$3.10 from a prior view of $3.15-$3.40 and said it plans to close 68 stores and cut 6,200 jobs.

Kohl’s (KSS) tumbled over 13% in pre-market trading after it said comparable same-store sales fell -2.1% y/y in the fiscal months of November and December combined, and then it cut its 2017 adjusted EPS forecast to $3.60-$3.65 from a November 10 estimate of $3.80-$4.00.

Mistras Group (MG) slumped 10% in after-hours trading after it reported Q2 EPS of 26 cents, below consensus of 31 cents.

Moelis (MC) fell 4% in after-hours trading after it offered 5 million shares of Class A common stock.

Heron Therapeutics (HRTX) dropped nearly 10% in after-hours trading after it forecast 2017 sales of its Sustol nausea treatment drug at $15 million to $25 million, well below consensus of $50 million.

Adobe Systems (ADBE) was rated a new ‘Outperform’ at BMO Capital Markets with a target price of $125.

McKesson (MCK) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan Chase with an 18-month target price of $169.

Helix Energy Solutions Group (HLX) sank 10% in after-hours trading after it proposed an offering of 21 million shares of common stock.

Buffalo Wild Wings (BWLD) was downgraded to ‘Neutral’ from ‘Outperform’ at Wedbush with a price target of $155.

Kilroy Realty (KRC) slid 3% in after-hours trading after it commenced an offering of 3.5 million shares of common stock.

Hudson Pacific Properties (HPP) lost 1% in after-hours trading after holders offered 18.7 million shares of stock.

Alexion Pharmaceuticals (ALXN) rallied over 3% in after-hours trading after a board audit committee concluded that it sees no need to restate financial results after investigating a claim made by a former employee about Soliris sales and practices.

 

Synergy Pharmaceuticals (SGYP) climbed 3% in after-hours trading after it was rated a new ‘Outperform’ at Oppenheimer with a price target of $10.

Loxo Oncology (LOXO) fell over 3% in after-hours trading after it proposed a public offering of common stock, although no amount or size was given.

Source: FoxBusiness, Barchart,CNBC, Bloomberg, Reuters