DWAC Up as Truth Approved for Google Play, AMAT Falls on Lower Outlook By Investing.com

After-Hours Stock Movers:

Digital World Acquisition Corp. (DWAC) 7% HIGHER; Google Approves Truth Social For Play Store, Axios reports.

QuidelOrtho Corporation (QDEL) 7% HIGHER; expects total revenues in the third quarter of 2022 to be in the range of $782 million to $785 million. COVID-19 product revenue is expected to be approximately $171 million and non-COVID-19 product revenue is expected to be in the range of $611 million to $614 million. (Consensus sees Q3 revenue of $651.8 million)

Duck Creek Technologies (DCT) 6% HIGHER; reported Q4 EPS of $0.03, $0.01 better than the analyst estimate of $0.02. Revenue for the quarter came in at $80.7 million versus the consensus estimate of $73.08 million. Duck Creek Technologies sees Q1 2023 EPS of ($0.01)-$0.00, versus the consensus of $0.02. Duck Creek Technologies sees Q1 2023 revenue of $75.5-77.5 million, versus the consensus of $76 million. Duck Creek Technologies sees FY2023 EPS of $0.11-$0.13, versus the consensus of $0.12. Duck Creek Technologies sees FY2023 revenue of $328-336 million, versus the consensus of $323 million.

BioMarin Pharmaceutical Inc. (BMRN) 4% HIGHER; announced today that the U.S. Food and Drug Administration (FDA) accepted the Company’s resubmission of the Biologics License Application (BLA) for its investigational AAV gene therapy, valoctocogene roxaparvovec, for adults with severe hemophilia A. The Prescription Drug User Fee Act (PDUFA) target action date is March 31, 2023. At this time, the FDA has not communicated any plans to hold an advisory committee meeting. If approved, valoctocogene roxaparvovec would be the first gene therapy in the U.S. for the treatment of severe hemophilia A.

ADMA Biologics, Inc. (ADMA) 3% HIGHER; Mizuho Securities initiates coverage with a Buy rating and a price target of $5.00.

Victoria’s Secret & Co. (VSCO) 3% HIGHER; Based on quarter to date trends and expectations for the balance of the quarter, the Company now estimates third quarter 2022 operating income to be towards the high end of its previously communicated guidance range of $10 million to $40 million, and earnings are estimated to be towards the high end of the previously communicated guidance range of $0.00 to $0.25 per diluted share.

Applied Materials, Inc. (AMAT) 1% LOWER; is revising its business outlook for the fourth quarter of fiscal 2022, ending Oct. 30, 2022. On Oct. 7, 2022, the United States government announced new export regulations for U.S. semiconductor technology sold in China, including wafer fabrication equipment and related parts and services. Applied currently estimates that the new regulations will reduce its fourth-quarter net sales by approximately $400 million, plus or minus $150 million. Applied now expects fourth-quarter non-GAAP adjusted diluted EPS to be in the range of $1.54 to $1.78, which compares to the prior range of $1.82 to $2.18. The revised EPS outlook includes the impact of lower expected revenue along with a preliminary estimated impact of approximately $0.23 primarily for inventory and remanufacturing charges related to the new export regulations.