After-Hours Stock Movers:
Larimar Therapeutics, Inc. (Nasdaq: LRMR) 55.3% LOWER; received feedback from the U.S. Food and Drug Administration (FDA) regarding the clinical hold on Larimars CTI-1601 program. FDA stated it is maintaining its clinical hold at this time and that additional data is needed to resolve the clinical hold. Larimar is further analyzing previously completed studies, and is evaluating if additional studies are warranted. The Company also intends to engage FDA to determine how best to provide these data. Larimar is currently reassessing guidance on the timing of the planned Jive open-label extension and pediatric multiple-ascending dose clinical trials as it works to meet the agencys request.
Tower Semiconductor (NASDAQ: TSEM) 50% HIGHER; Intel (NASDAQ: INTC) is nearing a deal to acquire Tower Semiconductor (NASDAQ: TSEM), according to Dow Jones, citing sources. The deal is for roughly $6 billion.
Amkor Technology (NASDAQ: AMKR) 8.5% HIGHER; reported Q4 EPS of $0.88, versus $0.52 reported last year. Revenue for the quarter came in at $1.72 billion, versus $1.37 billion reported last year.
Arista Networks (NYSE: ANET) 8.3% HIGHER; reported Q4 EPS of $0.82, $0.09 better than the analyst estimate of $0.73. Revenue for the quarter came in at $824.5 million versus the consensus estimate of $786.46 million. Arista Networks sees Q1 2022 revenue of $840-860 million, versus the consensus of $831.6 million.
Omnicell (NASDAQ: OMCL) 4.5% LOWER; reported Q4 EPS of $0.92, in-line with the analyst estimate of $0.92. Revenue for the quarter came in at $311.7 million versus the consensus estimate of $311.07 million. Omnicell sees Q1 2022 EPS of $0.65-$0.72, versus the consensus of $0.86. Omnicell sees Q1 2022 revenue of $312-318 million, versus the consensus of $301.38 million. Omnicell sees FY2022 EPS of $3.75-$3.95, versus the consensus of $4.01. Omnicell sees FY2022 revenue of $1.37-1.43 billion, versus the consensus of $1.3 billion.
Monster Beverage (NASDAQ: MNST) 2.9% HIGHER; Talks between Monster Beverage and Constellation Brands (NYSE: STZ) about a combination are progressing, according to Bloomberg, citing people with knowledge of the matter.
Intuit Inc. (Nasdaq: INTU) 2.2% LOWER; Expects Q2 Revenue to Reflect Slower Forming Tax Season