Daily Movers for October 22th, 2019

Published on: 22 Oct, 2019

Daily Movers for October 22th, 2019

Biogen Inc. (NASDAQ: BIIB) shares surged by over 35% on Tuesday morning after the Company announced it will seek U.S. FDA approval for its Alzheimer’s drug, aducanumab. Aducanumab is an investigational human monoclonal antibody drug which is used to treat Alzheimer’s disease. Since 2017, Biogen and Eisai have collaborated on the global development and commercialization of the drug. Based on the discussions with the FDA, Biogen plans to file a Biologics License Application (BLA) in early 2020 and will continue talking to authorities in international markets such as Europe and Japan.

McDonald's Corporation (NYSE: MCD) reported its quarterly financial results during pre-market hours on Tuesday. The Company reported lower-than-expected results, which sent shares lower by 3%. For the quarter, McDonald’s reported earnings of USD 2.11 per share on revenue of USD 5.4 Billion. Analysts expected earnings of USD 2.21 per share on revenue of USD 5.5 Billion.

Under Armour, Inc (NYSE: UA) shared edged higher by 4% after the Company announced that Chief Executive Officer and President Kevin Plank will step down and join the Company’s Board of Directors. Plank will be succeeded by President and Chief Operating Officer Patrik Frisk, which will be effective on January 1, 2020. Frisk will serve as Chief Executive Officer and President, reporting to Plank.

The Procter & Gamble Company (NYSE: PG) shares gained 3.6% on Tuesday after topping its quarterly financial results. For the quarter, Procter & Gamble reported earnings of USD 1.37 per share on revenue of USD 17.8 Billion. Analysts expected earnings of USD 1.24 per share on revenue of USD 17.42 Billion.

JetBlue Airways Corporation (NASDAQ: JBLU) shares rose by 4.7% on Tuesday morning after topping its estimates for its quarterly financial results. For the quarter, JetBlue reported earnings of USD 0.59 per share on revenue of USD 2.08 Billion. Analysts forecasted earnings of USD 0.51 per share on revenue of USD 2.00 Billion.

Hasbro, Inc. (NASDAQ: HAS) shares plummeted by 15% on Tuesday after reporting weaker-than-expected earnings. The Company reported earnings of USD 1.84 per share on revenue of USD 1.58 Billion. Analysts expected earnings of USD 1.84 per share on revenue of USD 1.72 Billion.

Snap Inc. (NYSE: SNAP) shares edged lower by 2.6% on Tuesday ahead of its quarterly financial results. The Company is expected to report during Tuesday’s aftermarket hours. Analysts are expecting earnings loss of USD 0.19 per share on revenue of USD 435.4 Million.

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Bryan Shin

Email: Bryan@financialinsiders.com

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