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Stocks Gapping Up 2017-05-26

WBAI 500.com Limited (WBAI) announced that it has entered into a share purchase agreement, pursuant to which it has conditionally agreed to purchase approximately 93.0% of the outstanding shares of The Multi Group Ltd. for a total consideration of approximately EUR49.8 million (approximately US$56.0 million) in cash. Closing of the acquisition is subject to approval by relevant regulatory authorities and customary conditions set out in the Share Purchase Agreement.

EGHT 8x8, Inc. (EGHT) reported Q4 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $66.5 million versus the consensus estimate of $65.55 million. GUIDANCE: 8x8, Inc. sees FY2018 revenue of $296-300 million, versus the consensus of $294.38 million.

AFSI AmTrust Financial Services (AFSI) announced that it will issue common equity to raise gross proceeds of $300 million through a private placement (“Private Placement”). The common equity shares were priced at $12.45 per share. AmTrust’s common stock closing market price on the Nasdaq Stock Market on Thursday, May 25, 2017 was $12.45 per share. The investment will further enhance AmTrust’s balance sheet and capital base. AmTrust intends to direct the proceeds from the Private Placement to the Company’s insurance subsidiaries to support their financial strength, continued organic growth, and writing of business. The transaction is expected to close on May 26, 2017. “Members of the Karfunkel family chose to make this investment because they believe strongly in the Company’s future,” said Barry Zyskind, Chairman and Chief Executive Officer, AmTrust. “Since its founding in 1998, AmTrust has grown from an entrepreneurial start-up into one of the largest specialty property and casualty insurers in the U.S., with an expanding global presence. The capital contribution gives AmTrust a higher capital base to support our business platform and organic growth opportunities. In addition to enhancing our balance sheet and capital base, this sizeable investment of $300 million should also provide confidence to all of our stakeholders that we are well capitalized to grow and write business. We remain committed to continuing to support growth and maintain confidence in AmTrust.”

BIG Big Lots Inc (BIG) beat fiscal first-quarter profit expectations and provided an upbeat outlook. Net income rose to $51.5 million , or $1.15 a share, from $38.7 million , or 79 cents a share, in the same period a year ago, compared with the FactSet consensus for earnings per share of 99 cents . Revenue slipped to $1.30 billion from $1.31 billion , just missing the FactSet consensus of $1.31 billion , as the same-store sales decline of 0.9% missed expectations of a 0.9% increase. The company expects second-quarter EPS of 58 cents to 63 cents , above the FactSet consensus of 57 cents , with same-store sales growth in the low single-digit percentage range, compared with expectations of 1.8% growth. The company increased its 2017 EPS outlook to $4.05 to $4.20 from $3.95 to $4.10 .

BDSI BioDelivery Sciences International (BDSI) H.C. Wainwright initiated BioDelivery Sciences International (BDSI) coverage with Buy and target $4

CLNE Clean Energy Fuels Corp (CLNE) announced today that the Los Angeles County Metropolitan Transportation Authority (Metro) has awarded Clean Energy a renewable natural gas (RNG) contract to fuel its fleet of transit buses. The deal calls for Clean Energy to provide Metro its Redeem™ brand of RNG, the first renewable and commercially available vehicle fuel made entirely from 100% organic waste. The fueling contract begins with a one-year pilot where Clean Energy will provide Redeem to one of Metro’s eleven compressed natural gas stations, which are currently operated and maintained by Clean Energy. Each station provides fuel for approximately 200 CNG buses. Execution of an additional option will allow Clean Energy to provide Redeem to the entire fleet of 2,200 natural gas buses for four more years, for an anticipated 38 million gasoline gallon equivalents (GGEs) each year.

COST Costco Wholesale (COST) reported Q3 EPS of $1.59, $0.28 better than the analyst estimate of $1.31. Revenue for the quarter came in at $28.22 billion versus the consensus estimate of $28.54 billion.

DECK Deckers Outdoor (DECK) reported Q4 EPS of $0.11, $0.17 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $369.5 million versus the consensus estimate of $357.59 million. Deckers Outdoor sees FY2018 EPS of $3.95-$4.15, versus the consensus of $3.79.

IMMU Immunomedics (IMMU) Cowen initiated Immunomedics (IMMU) coverage with Outperform and target $15

NTNX Nutanix (NTNX) reported Q3 EPS of ($0.42), $0.03 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $191.8 million versus the consensus estimate of $186.55 million. Nutanix sees Q4 2017 EPS of ($0.38)-($0.39). Nutanix sees Q4 2017 revenue of $215-220 million, versus the consensus of $204.72 million.

SBLK Star Bulk Carriers (SBLK) Seaport Global Securities upgraded Star Bulk Carriers (SBLK) to Buy and target $13

TOUR Tuniu (TOUR) reported Q1 EPS of (RMB0.60), RMB0.23 worse than the analyst estimate of (RMB0.37). Revenue for the quarter came in at RMB456 million versus the consensus estimate of RMB329.73 million.

ULTA Ulta Salon (ULTA) reported Q1 EPS of $2.05, $0.25 better than the analyst estimate of $1.80. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.27 billion. Comparable Sales Increased 14.3%. Ulta Salon sees Q2 2017 EPS of $1.72-$1.77, versus the consensus of $1.77. Ulta Salon sees Q2 2017 revenue of $1.26-1.28 billion, versus the consensus of $1.27 billion.

VEEV Veeva Systems (VEEV) reported Q1 EPS of $0.22, $0.04 better than the analyst estimate of $0.18. Revenue for the quarter came in at $157.9 million versus the consensus estimate of $151.9 million. GUIDANCE: Veeva Systems sees Q2 2018 EPS of $0.20, versus the consensus of $0.19. Veeva Systems sees Q2 2018 revenue of $163-164 million, versus the consensus of $160.2 million. Veeva Systems sees FY2018 EPS of $0.82-$0.84, versus the consensus of $0.80. Veeva Systems sees FY2018 revenue of $665-669 million, versus the consensus of $658.7 million.


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