Pre-Open Movers: Workday, Farfetch Gain on EPS; Seagen Falls on Deal Worries

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Farfetch Limited (NYSE:FTCH) 17% HIGHER; reported Q2 EPS of ($0.17), $0.13 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $579.3 million versus the consensus estimate of $548.2 million.

Everbridge, Inc. (NASDAQ:EVBG) 15% HIGHER; the company is exploring a sale, Bloomberg reported.

Athersys, Inc. (Nasdaq: NASDAQ:ATHX) 13% LOWER; will be executing a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25 after the close of trading on the Nasdaq Stock Market on Friday, August 26, 2022.

Workday (NASDAQ:WDAY) 10% HIGHER; reported Q2 EPS of $0.86, $0.07 better than the analyst estimate of $0.79. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.52 billion.

Affirm Holdings Inc (NASDAQ:AFRM10% LOWER; reported Q4 EPS of ($0.65), in-line with the analyst estimate of ($0.65). Revenue for the quarter came in at $364.1 million versus the consensus estimate of $354.66 million. Affirm Holdings sees Q1 2023 revenue of $345-365 million, versus the consensus of $386.02 million. Affirm Holdings sees FY2023 revenue of $1.625-1.725 million, versus the consensus of $1.91 million.

Seagen Inc (NASDAQ:SGEN) 7% LOWER; Merck & Company Inc (NYSE:MRK) takeover said to hit a snag over price.

Gap Inc (NYSE:GPS6% HIGHER; reported Q2 EPS of $0.08, $0.13 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $3.86 billion versus the consensus estimate of $3.82 billion. Given the actions the company has underway and in midst of a CEO transition, combined with the uncertain macro-environment, the company is withdrawing its prior fiscal 2022 outlook. The company is providing the following commentary related to its outlook for the remainder of fiscal 2022 and will share further details on its second quarter fiscal 2022 results conference call today at 2:00 pm Pacific Time.

Dell Technologies (NYSE:DELL) 5% LOWER; reported Q2 EPS of $1.68, $0.04 better than the analyst estimate of $1.64. Revenue for the quarter came in at $26.4 billion versus the consensus estimate of $26.61 billion.

MindMed (NASDAQ:MNMD) 5% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $3.50.

Elastic N.V. (NYSE:ESTC) 4% LOWER; reported Q1 EPS of ($0.15), $0.02 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $250.1 million versus the consensus estimate of $246.26 million. Elastic N.V. sees Q2 2023 EPS of ($0.11)-($0.09), versus the consensus of ($0.09). Elastic N.V. sees Q2 2023 revenue of $260-262 million, versus the consensus of $260.67 million. Elastic N.V. sees FY2023 EPS of ($0.31)-($0.25), versus the consensus of ($0.31). Elastic N.V. sees FY2023 revenue of $1.08-1.086 billion, versus the consensus of $1.08 billion.

Bed Bath & Beyond Inc. (NASDAQ:BBBY) 4% HIGHER; announced that, as previously stated, it will hold a conference call to provide a business and strategic update on August 31, 2022 at 8:15am EDT. A press release and related materials will be issued approximately 45 minutes prior to the start of the conference call.

Ulta Beauty (NASDAQ:ULTA) 3% HIGHER; reported Q2 EPS of $5.70, $0.80 better than the analyst estimate of $4.90. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.19 billion. Ulta Beauty sees FY2022 EPS of $20.70-$21.20, versus the consensus of $20.32. Ulta Beauty sees FY2022 revenue of $9.65-9.75 billion, versus the consensus of $9.53 billion.