US stock futures were in the red in pre-market trading on Thursday as investors continue to keep an eye on additional stimulus measures and look forward to data on inflation and weekly jobless claims. Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were down 0.04%, 0.24% and 0.57%, respectively.
In healthcare news, shares of Immutep exploded over 100% in pre-market trading after the company reported encouraging first overall survival data from its ongoing Phase IIb AIPAC study assessing its lead product candidate, eftilagimod alpha, in patients with metastatic breast cancer. “AIPAC marks an important milestone for Immutep and builds our confidence that efti is beneficial for many cancer patients, including those with metastatic breast cancer,” stated CEO Marc Voigt. “We are very encouraged by these first OS results which, subject to ongoing data collection, warrant a registrational perspective and regulatory interactions towards what we hope will be an important new class of medicines.”
On the deal front, AT&T is selling its Crunchyroll anime business to Sony’s Funimation Global Group for $1.175 billion in cash. The deal is in line with the company’s initiatives to monetize non-core strategic assets. Crunchyroll is a premier anime direct-to-consumer service within AT&T’s WarnerMedia business with more than 3 million SVOD subscribers.
Starbucks shares advanced 3.3% pre-market as the coffee giant raised its long-term earnings outlook and reiterated its fiscal 2021 guidance. The company raised its earnings growth projection for fiscal 2023 and 2024 to 10%-12%, up from its earlier growth forecast of at least 10%. It projected 2021 adjusted EPS of $2.70-$2.90. For fiscal 2022, Starbucks forecasted “outsized” growth in adjusted EPS of at least 20%.
Asana stock rallied over 16% pre-market as the software company reported better-than-anticipated 3Q results driven by accelerated digital transformation amid the pandemic. Notably, 3Q revenue surged 55% to $58.9 million, beating analysts’ estimate of $54.1 million. The adjusted loss per share of $0.34 was smaller than the Street’s forecast of a loss of $0.36. However, the loss widened from $0.30 per share in the year-ago period. The company raised its fiscal 2021 revenue guidance to $220.6-$221.6 million, from $210-$213 million. It now projects an adjusted loss per share of $1.21-$1.24, compared to the previous guidance of $1.30-$1.33.
Shares of Mesa Air Group advanced in early trading as the commercial aviation company delivered a surprise 4Q profit fueled by better-than-expected sales. The company’s 4Q EPS of $0.32 crushed the Street’s estimates for a loss of $0.10. However, earnings declined by 11.1% year-over-year. Revenue of $108.04 million topped analysts’ estimate of $92.95 million but declined 42.5% year-over-year, primarily due to the reduced flying amid the pandemic.
More on the earnings front, luxury home furnishings retailer RH crushed analysts’ third-quarter earnings estimates amid strong pandemic-led demand for home goods. RH’s 3Q revenue grew 25% to $844 million, beating analysts’ forecast of $836 million. Also, 3Q adjusted EPS exploded 122% to $6.20, ahead of analysts’ estimate of $5.27. Earnings were driven by gross as well as operating margin expansion. That said, the company expects supply chain disruptions to continue into the first half of 2021.
