Market Movers June.07

Neptune signs multi-year extraction agreement with Tilray, up 13.35% at 7:25 AM on 75,817 shares traded. Under the contract, the minimum volume of marijuana to be processed is expected to be 125,000kg over a 3 year period.

Elliott Management acquires Barnes and Noble for $683 million, representing a 43% premium over the share price before the rumors hit yesterday afternoon. CNBC reports

DocuSign Announces First Quarter Fiscal 2020 Financial Results, down 19% as of 6:07 AM. Piper Jaffray analyst Alex Zukin lowered his price target to $53 from $65 due to “mixed” fiscal Q1 results, cites in-line billings and a lower revenue beat. He doesn’t see any changes to the long term growth trend and views this morning sell off as an opportunity to buy, thefly.com reports

Dow up 70 points premarket as of 6:22am

Benzinga reported yesterday that Beyond Meat experienced unusual option activity. According to the report, two purchases in equal size were executed with a strike of $110, and a break-even price of $112 . Read the benzinga article here.

It looks like that bet paid off big time. As of 6:46 am, BYND sits at $123.33,  up 23.95%. Below is a screenshot of their 1st quarter earnings, released yesterday at 4:14pm. Click the image for full report

Zoom Video Communications Reports First Quarter Results for Fiscal Year 2020, up 12% premarket on 17,721 shares traded as of 7:11am

– Total revenue was $122 million, up 103% year-over-year

-Customers contributing more than $100,000 in TTM revenue, up 120% year-over-year

-Net income was $0.2 million vs net loss of 1.3 million in the same quarter last year

-Net cash provided by operating activities was $22.2 million for the first quarter, compared to $2.8 million in the first quarter of fiscal 2019. 

“In our first quarter as a public company, strong execution and expanding adoption of Zoom’s video-first unified communications platform drove total revenue growth of 103% year-over-year. While we remain focused on strong growth, we are also pleased that our highly efficient business model and disciplined investment approach contributed to positive non-GAAP profitability and free cash flow,” stated Eric S. Yuan, president and chief executive officer of Zoom. Read full report

LJPC following through this morning after going up more than 100% yesterday, currently up 15% on 350 000 shares traded as of 8:20am.

RWLK is currently down 50% from its intraday highs two days ago after reporting FDA clearance for their robotic assisted walking device for stroke survivors . Yahoo recently shared an article written by simplywall st which took note of their abysmal balance sheet, but notice how there is no mention of the S-3 filed on May. 05th? Interesting that they would fail to mention such a key detail. Here, you will get real analysis, not some generic cookie cutter click bait. We break down the filings week by week so it’s easy for you to understand. As you may have seen, we alerted investors to the problems with DMPI, OBLN, ELTK, SBOT, WKHS, and many others, and there will be many more to come. Hope to see you around

Nonfarm payrolls for May come in 58% lower than expectations, CNBC reports

DOMO, currently down 16.5% on 40,928 shares traded as of 9:12am, reports light guidance and net losses of $35.5 million, or $1.32 a share, compared with losses of $45.5 million, or $27.63 cents a share, a year ago, The Street reports

Senseonics Announces FDA Approval for Eversense® 90-day CGM System, up +14.36% on 637,018 shares traded as of 9:20am, link to press release

Billionaire Stanley Druckenmiller says weak jobs reports increases the chance the fed will ease up on monetary policy, CNBC reports

Columbia Financial, Inc. Acquires Stewardship Financial Corporation, up 72.47%, filing

Revolve Group LLC prices IPO at $18

Dow up 301 points as of 10:50:11 AM

RVLV IPO finishes the day almost 100% over subscribed. Citron Research, a firm more geared towards short selling, even gives it a buy rating today.

Stay tuned for updates!!

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