Tuesday Pre-Market Look: Stocks In The News Before The Open

Nivalis Therapeutics (NVLS) plunged over 50% in after-hours trading after it said its Phase 2 study evaluating cavosonstat failed to meet the primary endpoint in adult patients with cystic fibrosis.

Pfizer (PFE) was upgraded to ‘Overweight’ from ‘Equalweight’ at Barclays with a 12-month price target of $38.

Tiffany (TIF)— The luxury goods retailer earned 76 cents per share for the third quarter, nine cents a share above estimates. Revenue also topped forecasts. Tiffany did see same-store sales drop by two percent, but that was only half the expected drop. The company is cautiously optimistic about improving sales data, but says it needs to see additional positive news to consider this quarter “an inflection point.”

UnitedHealth Group (UNH) — The Dow industrial average component gave strong 2017 guidance ahead of a scheduled meeting with analysts and institutional investors. The health insurer expects to earn an adjusted $9.30 to $9.60 per share next year, compared to consensus estimates of $9.17 a share.

Mallinckrodt (MNK) — The drugmaker reported adjusted quarterly profit of $2.04 per share, seven cents a share above estimates. Revenue also exceeded Street forecasts. The company said its results were helped by double-digit growth in sales of its key branded drugs.

Mobileye (MBLY), Delphi Automotive (DLPH) — The two companies will use an Intel chip for their joint self-driving vehicle venture. Intel has been trying to broaden its reach into the fast-expanding autonomous vehicle market.

U.S. Steel (X) was downgraded to ‘Hold’ from ‘Buy’ at Argus.

TiVo (TIVO) rallied almost 5% in after-hours trading after it signed IP licensing pacts with Netflix.

Thor Industries (THO) jumped almost 10% in after-hours trading after it reported Q1 EPS continuing operations of $1.49, higher than consensus of $1.23.

SiteOne Landscape Supply (SITE) slipped 3% in after-hours trading after it announced a secondary offering of 8 million shares of common stock.

Allstate (ALL) fell over 1% in after-hours trading after it said it will buy SquareTrade for $1.4 billion in cash.

Texas Capital Bancshares (TCBI) dropped 3% in after-hours trading after it announced an offering of 3 million shares of common stock.

Shoe Carnival (SCVL) sank 10% in after-hours trading after it reported Q3 WPS of 54 cents, weaker than consensus of 56 cents, and then cut its view on fiscal 2017 EPS to $1.46-$1.51 from an August 31 view of $1.58-$1.65.

ZTO Express Cayman (ZTO) gained over 3% in after-hours trading after it reported Q3 earnings per ADS were 12 cents, higher than consensus of 11 cents.

Cotiviti Holdings (COTV) lost over 1% in after-hours trading after it announced a secondary public offering of 10 million shares of common stock.

21Vianet Group (VNET) rose over 3% in after-hours trading aft it reported a Q3 loss/ADR of -13 cents, a smaller decline than consensus of -15 cents.

Cherokee Global (CHKE) lost over 2% in after-hours trading after it announced plans to buy Hi-Tec Sports International Holdings for $95.8 million.

Bojangles’ Inc. (BOJA) slid 4% in after-hours trading after holders proposed a secondary offering of 6 million shares of common stock.