Pre-Open Movers: Romeo Power, EVO Payments Jump on Buyouts; Boeing Gains as FAA Clears Inspections

Mobile Global Esports Inc (NASDAQ:MGAM) 48% HIGHER; sees continued momentum after Friday’s IPO.

Romeo Power Inc (NYSE:RMO) 22% HIGHER; Nikola Corporation, and Romeo Power Inc, today announced they have entered into a definitive agreement in which Nikola, a global leader in zero-emissions transportation and energy infrastructure solutions, will acquire Romeo, an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, in an all-stock transaction. The proposed exchange ratio implies a consideration of $0.74 per Romeo share and represents an approximately 34% premium to Romeo’s July 29, 2022 closing share price and values 100% of Romeo’s equity at approximately $144 million.

EVO Payments Inc (NASDAQ:EVOP) 21% HIGHER; Global Payments Inc (NYSE:GPN), a leading worldwide provider of payment technology and software solutions, and EVO Payments Inc, a leading global provider of payment technology integrations and acquiring solutions, today announced that Global Payments will acquire EVO in an all-cash transaction for $34.00 per share.

Celsius Holdings Inc (NASDAQ:CELH) 14% HIGHER; PepsiCo Inc (NASDAQ:PEP) and Celsius Holdings Inc, maker of a leading global fitness energy drink, CELSIUS®, today announced a definitive agreement forging a long-term strategic distribution arrangement. The distribution agreement initially transitions Celsius’ current U.S. distribution to PepsiCo’s best-in-class capabilities. As part of the transaction, PepsiCo will also make an investment in Celsius in support of its growth agenda and will nominate a director to serve on Celsius’ Board of Directors.

Beam Therapeutics Inc (NASDAQ:BEAM) 12% LOWER; announced that on Friday, July 29, 2022, the company was informed via e-mail communication from the U.S. Food and Drug Administration (FDA) that the BEAM-201 Investigational New Drug (IND) application for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia (T-ALL)/T cell lymphoblastic lymphoma (T-LL) has been placed on clinical hold. BEAM-201 is a potent and specific anti-CD7, multiplex-edited, allogeneic chimeric antigen receptor T cell (CAR-T) development candidate. The BEAM-201 IND was submitted at the end of June. The FDA indicated they will provide an official clinical hold letter to Beam within 30 days. Beam plans to provide additional updates pending discussion with the FDA.

Builders FirstSource (NYSE:BLDR) 9% HIGHER; reported Q2 EPS of $6.26, $3.20 better than the analyst estimate of $3.06. Revenue for the quarter came in at $6.9 billion versus the consensus estimate of $5.53 billion.

ON Semiconductor (NASDAQ:ON) 6% LOWER; reported Q2 EPS of $1.34, $0.09 better than the analyst estimate of $1.25. Revenue for the quarter came in at $2.09 billion versus the consensus estimate of $2.01 billion. onsemi sees Q3 2022 EPS of $1.25-$1.37, versus the consensus of $1.21. onsemi sees Q3 2022 revenue of $2.07-2.17 billion, versus the consensus of $2.02 billion.

Boeing (NYSE:BA) 5% HIGHER; The U.S. Federal Aviation Administration (FAA) has approved the company’s inspection plan to resume deliveries of the 787.

Colgate-Palmolive Company (NYSE:CL) 1% HIGHER; Wells Fargo upgraded from Underweight to Equal Weight with a price target of $80.00 (from $71.00).

Comcast Corp (NASDAQ:CMCSA) 1% LOWER; Barclays downgraded from Overweight to Equalweight with a price target of $42.00 (from $48.00).