Pre-Open Stock Movers:
Cambium Networks (NASDAQ:CMBM) 16% LOWER; now expects GAAP revenues of between $61-$63 million compared to the previous outlook of $77.5-$81.5 million for Q1. In addition, CFO Stephen Cumming resigned.
Airgain, Inc. (NASDAQ:AIRG) 12% HIGHER; a major US-based water utility company has selected AirgainConnect® AC-HPUE™ to improve the connectivity of its fleet. This is a multi-million dollar contract.
Veru, Inc. (NASDAQ:VERU) 8% HIGHER; adds to intra-day gains of 43%.
Twitter (NYSE:TWTR) 7% HIGHER; Elon Musk offered to acquire the entire company for $54.20/share in 'best and final' offer.
Protalix Biotherapeutics Inc (NYSE:PLX) 6% HIGHER; CEO buys $100K in stock.
Wells Fargo (NYSE:WFC) 4% LOWER; reported Q1 EPS of $0.88, $0.08 better than the analyst estimate of $0.80. Revenue for the quarter came in at $17.59 billion versus the consensus estimate of $17.8 billion.
Seagate Technology PLC (NASDAQ:STX) 4% LOWER; Susquehanna downgraded to Negative on expected softer demand.
Rent the Runway Inc (NASDAQ:RENT) 3% LOWER; posted Q4 EPS of ($0.62), versus ($3.48) reported last year. Revenue for the quarter came in at $64.1 million, versus $33.5 million reported last year. Rent the Runway sees FY2022 revenue of $295-305 million.
Bed Bath & Beyond (NASDAQ:BBBY) 3% LOWER; Telsey downgraded from Market Perform to Underperform with a price target of $15.00 (from $18.00).
Western Digital Corp. (NASDAQ:WDC) 3% LOWER; Susquehanna downgraded to Neutral on expected softer demand.
IBM (NYSE:IBM) 2% HIGHER; Morgan Stanley (NYSE:MS) upgraded the stock to Overweight with a price target of $150, calling it a "defensive play".
Goldman Sachs (NYSE:GS) 2% HIGHER; reported Q1 EPS of $10.76, $1.94 better than the analyst estimate of $8.82. Revenue for the quarter came in at $12.93 billion versus the consensus estimate of $11.83 billion.
Morgan Stanley (NYSE:MS) 1% HIGHER; reported Q1 EPS of $2.06, versus $2.08 reported last year. Revenue for the quarter came in at $14.8 billion, versus $15.72 billion reported last year.
Citigroup (NYSE:C) 1% HIGHER; reported Q1 EPS of $2.02, $0.47 better than the analyst estimate of $1.55. Revenue for the quarter came in at $19.2 billion versus the consensus estimate of $18.15 billion.