Pre-Open Stock Movers:
Upstart Holdings, Inc. (NASDAQ:UPST) 19% LOWER; warns for Q2. Revenue is expected to be approximately $228 million, previously guided at $295 to $305 million.
Target (NYSE:TGT) Hospitality Corp. (NASDAQ:TH) 19% HIGHER; raised the range of its previously announced 2022 financial outlook 53% primarily related to the significantly expanded and enhanced lease and services agreement supporting domestic humanitarian aid efforts, previously announced on July 6, 2022.
iRhythm Technologies Inc (NASDAQ:IRTC) 13% HIGHER; provided comment on the recently released Centers for Medicare and Medicaid Services (“CMS”) Medicare Physician Fee Schedule Proposed Rule for Calendar Year 2023 (the “Proposed Rule”). The Proposed Rule was released on July 7, 2022 and proposes to update the payment rates and other provisions for services furnished on or after January 1, 2023 and reimbursed under the Medicare Physician Fee Schedule (“MPFS”). The Proposed Rule is followed by a public comment period which will culminate with CMS’ release of a Final Rule, which is expected to be announced by early November for implementation on January 1, 2023. The policies announced in the Proposed Rule are therefore subject to change.
WD-40 Company (NASDAQ:WDFC) 10% LOWER; reported Q3 EPS of $1.07, $0.20 worse than the analyst estimate of $1.27. Revenue for the quarter came in at $123.7 million versus the consensus estimate of $142.77 million. WD-40 Co. sees FY2022 EPS of $5.02-$5.10, versus the consensus of $5.18. WD-40 Co. sees FY2022 revenue of $519-532 million, versus the consensus of $537.5 million.
GameStop Corp . (NYSE:GME) 5% LOWER; announced the appointment of Diana Saadeh-Jajeh as Chief Financial Officer, effective immediately. Ms. Saadeh-Jajeh previously held the role on an interim basis in 2021 and most recently served as the Company’s Chief Accounting Officer. The appointment coincides with the Company’s termination of the employment of Michael Recupero.
XPO Logistics (NYSE:XPO) 5% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $75.00.
MRC Global Inc. (NYSE:MRC) 5% HIGHER; is increasing 2022 targets to $3.3 billion in sales and $230 million of adjusted EBITDA, or 7% of targeted sales.
Levi (LEVI) 4% HIGHER; reported Q2 EPS of $0.29, $0.06 better than the analyst estimate of $0.23. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.43 billion. Levi sees FY2022 EPS of $1.50-$1.56, versus the consensus of $1.55. Net revenues growth of 11% to 13% compared to FY 2021, between $6.4 billion and $6.5 billion
Nu Skin Enterprises, Inc. (NUS) 4% LOWER; today announced estimated second quarter revenue between $557 and $562 million. (Consensus sees Q2 revenue of $605 million).
Twitter (NYSE:TWTR) 4% LOWER; Falls on a report from the Washington Post that Elon Musk's deal to buy the social media giant is at risk after Musk's camp concluded Twitter's figures on spam accounts are not verifiable.
Agilent (NYSE:A) 3% LOWER; Citi downgraded from Buy to Neutral with a price target of $140.00 (from $175.00).
Occidental Petroleum (NYSE:OXY) 3% HIGHER; Warren Buffett's Berkshire buys another 12 million shares.
Six Flags Entertainment (SIX) 3% LOWER; Citi downgraded from Buy to Neutral with a price target of $26.00 (from $41.00).
Build-A-Bear Workshop, Inc. (BBW) 2% HIGHER; large shareholder Kanen Wealth Management LLC delivers letter.