Tuesday’s Pre-Market: Here’s What You Need To Know Before The Market Opens

U.S. Stock futures were slightly lower on Tuesday following Monday’s rally that saw the Dow Jones Industrial Average hit record highs for the 18th time this year.

Dow futures were trading around 0.1% lower, S&P futures had fallen 0.2%, while Nasdaq futures had slipped around 0.3% at the time of writing.

On the earnings calendar today, Paychex (PAYX), Lindsay (LNN) and Stealth Bio (MITO) will release their results before the bell, while Smart Global (SGH), Magal (MAGS) and HD Supply (HDS) are expected to report during the course of the day.

Weidai (WEI) was the most actively traded stocks before the bell rising around 23% at the time of writing.

Brooklyn Immunotherapeutics (BTX) was the strongest stock in the pre-market, gaining around 73%, while X Financial (XYF) led the loser-board falling 14% before the market opened.

In corporate earnings news, Maravai LifeSciences (MRVI) provided preliminary revenue forecasts for its upcoming first-quarter results that fell short of analysts’ estimates. The company expects Q1 revenues of approximately $147.8 million compared to analysts’ expectations of about $148.7 million. Income from operations is expected to be between $80 and $100 million.

Shares of iCAD (ICAD) climbed 9.3% in Monday’s extended trading session after the company announced preliminary Q1 revenues that topped analysts’ estimates. Analysts are expecting revenues of $7.89 million but iCAD’s updated guidance reflects revenues in excess of $8.1 million. CEO Michael Klein said, “Our strong results were driven by growth in both AI [artificial intelligence] Detection revenue, due to continued market penetration for ProFound AI and ProFound AI Risk, and Xoft Therapy revenues.

SeaSpine Holdings (SPNE) rose 4.7% in Monday’s extended trading session after raising its FY21 revenue outlook. The company expects FY21 revenues of between $193 million and $198 million, a jump of 30% to 33% year-on-year, with the acquisition of 7D Surgical expected to accretive to EBITDA from 2022. Analysts had previously forecast FY21 revenues of $185.8 million.

In M&A news, DraftKings (DKNG) has bought BlueRibbon Software Ltd., a Tel Aviv-based global jackpot and gamification company for an undisclosed fee. “Integrating BlueRibbon’s proprietary, proven technology will enable DraftKings to create dynamic incentives for our users as they engage with our products,” according to DraftKings’ Global Technology and Product President, Paul Liberman. DraftKings expects the acquisition to enhance the customer experience with the integration of BlueRibbon’s unique jackpot functionality.

Trulieve Cannabis (TCNNF) has agreed to acquire Keystone Shops from Anna Holding LLC for $60 million comprised of $40 million in Trulieve subordinate voting shares and $20 million in cash. The shares issued will have a lock up period of 18 months from the closing date of the transaction which is expected in Q2. Trulieve also announced a public offering of approximately 4.4 million subordinated voting shares.