After-Market : Sculptor Capital rises on the news of a bigger bid, while Biohaven declines on the news of a stock offering. Oct-02

After-Market:

After-Market

After-Market active stocks

Gainers

• Alx Oncology Holdings (NASDAQ:ALXO) 18% HIGHER; Alx Oncology Holdings (NASDAQ:ALXO) announced an investor call and webcast would be held on Tuesday, October 3rd at 8:00 AM EDT to provide interim Phase 2 ASPEN-06 clinical trial data of evorpacept for the treatment of advanced HER2-positive gastric cancer.
• Sculptor Capital Management, Inc. (NYSE:SCU) 5% UP; Weinstein lifts Sculptor bid yet again as Rithm considers larger offer – Bloomberg.
• ProMIS Neurosciences Inc (NASDAQ:PMN) 5% HIGHER BTIG commences coverage on ProMIS Neurosciences Inc (NASDAQ:PMN) with a Buy rating and a price target of $8.00.
• Applied Digital Corp (NASDAQ:APLD) is up 4%; Roth/MKM commences coverage with a Buy rating and a $14.00 price target.

Losers

• Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) 5% LOWER Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) has begun an underwritten public offering of $200 million of its common shares.
• Gaia, Inc. (NASDAQ:GAIA) 2% LOWER; proposes to sell shares of its Class A common stock in an underwritten public offering at a proposed public offering price per share that is higher than the Company’s Class A common stock closing price today.

MARKET MOVERS 

Midday-Market movers

GAINERS

• The shares of Sphere Entertainment (NYSE:SPHR) increased 14% after the inaugural weekend of its Sphere entertainment complex in Las Vegas, which featured a series of concerts by the rock band U2.  
• Following a spike in Bitcoin’s price to near two-month highs, shares in crypto-related companies such as Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) surged 8.3% and 3.5%, respectively. 
•  Nvidia (NASDAQ:NVDA) shares climbed 2.7% after Goldman Sachs added the chipmaker and AI darling to its Americas conviction list. 
• Coinbase’s (NASDAQ:COIN) stock increased 1% after the cryptocurrency exchange said that its Singapore subsidiary has secured a license to provide digital payment token services to individuals and institutions in the city-state. 
• AMC Entertainment (NYSE:AMC) shares fell 0.3% after the theater chain said that one of its units will distribute a film based on Beyonce’s “Renaissance World Tour” later this year. 
•  Tesla Inc (NASDAQ:TSLA) shares rose 0.1% after the electric vehicle manufacturer reported lower-than-expected third-quarter deliveries. Some of its output has been halted as a result of factory upgrades, which analysts predict will be pushed into the fourth quarter. 

LOSERS

• SmileDirectClub (NASDAQ:SDC) shares fell 61% after the dental aligner producer filed for Chapter 11 bankruptcy protection. 
• SolarEdge Technologies (NASDAQ:SEDG) stock fell 5.2% after Barclays analysts downgraded the solar inverter maker to equal weight from overweight.  
• Rivian (NASDAQ:RIVN) shares declined 0.2% after the electric vehicle company reaffirmed its annual prediction of 52,000 deliveries, falling short of the Bloomberg consensus of 53,654. 

Insider Trades

Insider purchases by the CEO and Director of Cantaloupe, Inc.

Two Cantaloupe, Inc. (CTLP) insiders announced recent stock transactions after the market closed on Friday:
On 09/27/23, CEO Ravi Venkatesan disclosed purchasing 16,000 common shares at a price of $6.28. The acquisition cost approximately $100,480.
Ian Jiro Harris, a director, admitted purchasing 16,696 common shares between September 27 and September 29 at values ranging from $6.28 to $6.34. The purchasing price was around $105,000.

Earnings Calendar

Tuesday, Oct. 3  

McCormick & Company (MKC),  

Cal-Maine Foods Inc. (CALM),  

Novagold Resources Inc. (NG) 

Wednesday, Oct. 4  

RPM International Inc. (RPM),  

Acuity Brands Inc. (AYI),  

 Helen of Troy Ltd. (HELE)  

Thursday, Oct. 5  

Constellation Brands (STZ),  

Lamb Weston Holdings (LW),  

ConAgra Brands (CAG) 

Levi Strauss & Co. (LEVI)  

• Workhorse Group Inc. (Nasdaq: WKHS) 32% HIGHER; Workhorse Group Inc. (Nasdaq: WKHS) announced that it has achieved IRS clearance as a qualified manufacturer for the Commercial Clean Vehicle Credit, as specified in Internal Revenue Code Section 30D(d)(3). With this approval, Workhorse clients can receive up to a $40,000 credit for all Workhorse vehicle deliveries in 2023 and beyond.
• Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) 29% HIGHER; Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) reported that it has reached an agreement with the Food and Drug Administration (FDA) on the global Phase 2 pivotal study of RP-A501 for Danon Disease. Danon Disease is a deadly hereditary cardiomyopathy that kills the majority of male patients at the age of 20 and the majority of female patients at the age of 40, and for which there are no authorized curative or disease-modifying medications. In the United States and Europe, the condition affects an estimated 15,000 to 30,000 people.

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