Fly Intel: Pre-market Movers - InvestingChannel

Fly Intel: Pre-market Movers

HIGHER: Tenneco (TEN), up 2% after reconfirming that it has been reviewing strategic alternatives to maximize shareholder value and updating FY19 revenue guidance to be slightly higher than its initial outlook… Achillion (ACHN), up 15% after the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Act with respect to the pending acquisition of the company by Alexion (ALXN)…

Net 1 UEPS (UEPS), up 21% after announcing that it has agreed to sell 100% of KSNET, a Republic of Korea payment processor, to Stonebridge Capital and Payletter for approximately $237M. LOWER: Apple (AAPL), down 2% amid worries about China and following cautious notes from Deutsche Bank and JPMorgan ahead of Tuesday’s fiscal Q1 earnings report…

Alibaba (BABA), down 6% amid broader weakness in Chinese-linked stocks amid the coronavirus outbreak in the country… EyePoint (EYPT), down 2% after announcing, with Ocumension Therapeutics, an exclusive license agreement for the development and commercialization of Dexycu 9% for the treatment of post-operative inflammation following ocular surgery in Mainland China, Hong Kong, Macau and Taiwan…

Sorrento Therapeutics (SRNE), down 8% after announcing that, after reviewing the latest acquisition proposal in consultation with its advisors, the company’s board determined that the offer significantly undervalues Sorrento and is not in the best interest of the company’s stockholders…

Wynn Resorts (WYNN), down 8% after BofA analyst Shaun Kelley downgraded shares to Neutral from Buy with a $150 price target. Other publicly traded companies in the Macau gaming space, including Las Vegas Sands (LVS), MGM Resorts (MGM) and Melco Resorts (MLCO), are also lower after Bloomberg reported that the number of mainland Chinese visitors to Macau fell 80% on Sunday, the third day of the Lunar New Year holiday, compared with the equivalent day during last year’s Lunar New Year break…

Yum China (YUMC), down 7% after Reuters reports the company has temporarily closed some of its KFC and Pizza Hut stores in Wuhan in response to the coronavirus outbreak.

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