Some of the stocks that may grab investor focus today are:

• Wall Street expects Take-Two Interactive Software, Inc. (NASDAQ: TTWO) to post quarterly earnings at $0.75 per share on revenue of $506.46 million after the closing bell. Take-Two shares rose 0.1 percent to $103.45 in after-hours trading.
• Abeona Therapeutics Inc (NASDAQ: ABEO) reported a wider-than-expected loss for its first quarter. Abeona Therapeutics shares fell 2.3 percent to $7.50 in the after-hours trading session.
• Analysts expect Consolidated Water Co. Ltd. (NASDAQ: CWCO) to report quarterly earnings at $0.19 per share on revenue of $16.00 million before the opening bell. Consolidated Water shares rose 0.1 percent to $13.15 in after-hours trading.

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• After the closing bell, Tencent Music Entertainment Group (NYSE: TME) is projected to post quarterly earnings at $0.1 per share on revenue of $850.05 million. Tencent Music shares gained 0.2 percent to $16.62 in after-hours trading.
• Colfax Corp (NYSE: CFX) is nearing a deal to sell its air and gas unit to KPS Capital Partners, Reuters reported. Colfax shares declined 1.2 percent to $26.73 in the after-hours trading session.
• Analysts are expecting Legg Mason, Inc. (NYSE: LM) to have earned $0.54 per share on revenue of $694.58 million in the latest quarter. Legg Mason will release earnings after the markets close. Legg Mason shares fell 0.8 percent to $33.83 in after-hours trading.

Pinterest Inc (NYSE: PINS) debuted on a public market in April and research firms are now free to offer their recommendations to clients. Here’s a sampling of what some sell-side firms think about Pinterest.

Bank of America’s Justin Post initiated coverage of Pinterest with a Neutral rating and $32 price target.

UBS’ Eric Sheridan initiates at Neutral, $31 price target.

‘Big’ Growth Potential

Pinterest’s user monetization levels are “relatively low” compared to rival social media platforms, Post wrote in a note. Specifically, the company’s 2019 annual average revenue per user is estimated at $3.67 versus Facebook, Inc. (NASDAQ: FB) at $29.04 and Twitter Inc (NYSE: TWTR) at $10.78.

Assuming Pinterest is able to lift its ARPU to Twitter’s levels, revenue could come in at $3.2 billion. The company has other potential revenue streams from opportunities in e-commerce.

Other potential drivers of growth include the introduction of a self-serve platform, growth in international markets and potential for new revenue streams to come at high incremental margins.

Three risks to Pinterest’s stock, according Post, include a high relative valuation, potential slowdown in U.S. user growth decelerating revenue growth after a “strong” 2018.

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Yes To ‘Pivotal Questions’

Two of the more pivotal questions Pinterest investors are asking include the sustainability of 25 percent revenue and ad monetization growth and path towards profitability, Sheridan wrote in a note.

Pinterest has a path to increase ad monetization and revenue growth at a 25 percent compounded annual growth rate through 2023. The analyst said the company’s already existing ad load offers users a high commercial intent and gives advertisers a compelling value proposition. As Pinterest’s user base continues to grow and engagement levels remain stable, the company can improve the monetization gap versus its peers.

Pinterest should become free cash flow and Adjusted EBITDA positive by fiscal 2020, the analyst wrote. Management can improve its cost structure through optimizing cloud-related expenses, which account for around 90 percent of cost of goods sold. The company can see operating leverage from research & development, sales and marketing.

Netflix can chill.

There are lots of new competitors coming, but a survey of Netflix, Inc. (NASDAQ: NFLX) subscribers shows most plan to stick with the service, leading Piper Jaffray to reiterate its bullish stance on the streaming pioneer’s stock.

The Analyst

Michael Olson reiterated an Overweight rating on Netflix with a $440 price target.

The Thesis

With Walt Disney Co. (NYSE: DIS) launching a rival streaming service later this year, some investors are concerned about whether Netflix can maintain its suscriber base. Netflix shares dropped more than 4 percent after Disney unveiled details and pricing for its streaming service last month, though it quickly gained much of that loss back. 

PiperJaffray’s survey of more than 1,500 U.S. Netflix subscribers suggests only a small percentage are considering switching, Olson said in a Monday note. (See his track record here.) 

“In other words, we expect Netflix to continue to capture a significant portion of the tidal wave of traditional content dollars that are migrating to streaming.”

The survey is slightly at odds with another poll of Netflix subscribers, by Streaming Observer, in which nearly 15 percent said they might switch to Disney+, which would mean more than $115 million in lost revenue per month.

It may be worth noting that previous surveys have shown lots of subscribers might defect — but they did not. 

Price Action

Netflix shares were dropping on Monday without clear direct news, as the broader market plunged on new China trade war fears. 

Technology stocks were hit particularly hard, including other members of the FAANG group, all of which were down. 

Netflix shares were down 4.56 percent at $344.58 at the time of publication Monday. 

Related Links

Disney+: All The Details About The New Netflix Rival

Survey Finds 8.7M Netflix Subscribers May Switch To Disney+

Photo courtesy of Netflix. 

Companies Reporting Before The Bell

• Viacom Inc. (NASDAQ: VIAB) is estimated to report quarterly earnings at $0.80 per share on revenue of $3.06 billion.
• Marriott International, Inc. (NASDAQ: MAR) is expected to report quarterly earnings at $1.34 per share on revenue of $5.11 billion.
• Quorum Health Corporation (NYSE: QHC) is projected to report quarterly loss at $0.64 per share on revenue of $467.87 million.
• JD.com, Inc. (NASDAQ: JD) is estimated to report quarterly earnings at $0.12 per share on revenue of $17.70 billion.
• Tribune Media Company (NYSE: TRCO) is expected to report quarterly earnings at $0.22 per share on revenue of $449.63 million.
• Pattern Energy Group Inc. (NASDAQ: PEGI) is estimated to report quarterly earnings at $0.18 per share on revenue of $145.68 million.
• Weatherford International plc (NYSE: WFT) is expected to report quarterly loss at $0.12 per share on revenue of $1.35 billion.
• The RMR Group Inc. (NASDAQ: RMR) is projected to report quarterly earnings at $0.57 per share on revenue of $141.12 million.
• Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is estimated to report quarterly loss at $0.28 per share on revenue of $672.29 million.
• Buckeye Partners, L.P. (NYSE: BPL) is expected to report quarterly earnings at $0.63 per share on revenue of $1.03 billion.
• NuStar Energy L.P. (NYSE: NS) is estimated to report quarterly earnings at $0.36 per share on revenue of $540.61 million.
• Enbridge Inc. (NYSE: ENB) is projected to report quarterly earnings at $0.55 per share on revenue of $10.14 billion.
• GP Strategies Corporation (NYSE: GPX) is estimated to report quarterly earnings at $0.12 per share on revenue of $137.09 million.
• The E.W. Scripps Company (NASDAQ: SSP) is projected to report quarterly loss at $0.06 per share on revenue of $289.80 million.
• Hospitality Properties Trust (NYSE: HPT) is expected to report quarterly earnings at $1.2 per share on revenue of $525.47 million.
• Enerplus Corporation (NYSE: ERF) is estimated to report quarterly earnings at $0.22 per share on revenue of $241.79 million.
• China Yuchai International Limited (NYSE:

Here’s a roundup of top developments in the biotech space over the last 24 hours.

Scaling The Peaks

(Biotech stocks hitting 52-week highs on May 9)

• Alcon AG (NYSE: ALC)
• ANI Pharmaceuticals Inc (NASDAQ: ANIP) (reacted to its Q1 results)
• BioSig Technologies Inc (NASDAQ: BSGM)

Down In The Dumps

(Biotech stocks hitting 52-week lows on May 9)

• Adamas Pharmaceuticals Inc (NASDAQ: ADMS)
• Aethlon Medical, Inc. (NASDAQ: AEMD)
• Alkermes Plc (NASDAQ: ALKS)
• Amneal Pharmaceuticals Inc (NYSE: AMRX)(reacted to first-quarter results)
• ANCHIANO THERAP/S ADR (NASDAQ: ANCN)
• Atara Biotherapeutics Inc (NASDAQ: ATRA)(reacted to first-quarter results)
• CELLECT BIOTECH/S ADR (NASDAQ: APOP)
• Emergent Biosolutions Inc (NYSE: EBS)
• Evoke Pharma Inc (NASDAQ: EVOK)(reacted to first-quarter results)
• Foamix Pharmaceuticals Ltd (NASDAQ: FOMX)
• Harvard Bioscience, Inc. (NASDAQ: HBIO)
• NovaBay Pharmaceuticals, Inc. (NYSE: NBY)
• Proteon Therapeutics Inc (NASDAQ: PRTO)
• Sienna Biopharmaceuticals Inc (NASDAQ: SNNA)(reacted to first-quarter results)
• Verastem Inc (NASDAQ: VSTM)

Stock In Focus

Strongbridge Pharma Presents Positive Long-Term Data For Paralysis Drug

Strongbridge Biopharma plc (NASDAQ: SBBP) presented long-term efficacy results for Keveyis, the first and only U.S. FDA-approved treatment for hyperkalemic, hypokalemic and related variants of primary periodic paralysis, or PPP, at the American Academy of Neurology, or AAN, annual meeting. The data showed that long-term treatment with Keveyis in adults is effective in significantly improving both attack frequency and severity in adult patients with PPP.

The stock rose 6.38 percent to $3.50 in after-hours trading.

FirbroGen Drug To Treat Anemia In Chronic Kidney Patients Produces Mixed Results

FibroGen Inc (NASDAQ: FGEN) announced topline results from the pooled safety analyses of the global Phase 3 program for roxadustat in treating anemia in chronic kidney disease patients across the non-dialysis dependent, newly-initiated dialysis and dialysis-dependent populations, which supported safety of the drug.

However, the company said based on the major adverse cardiovascular event, or MACE, safety analyses, there is no clinically meaningful difference in risk of MACE between roxadustat and Johnson & Johnson (NYSE: JNJ)’s Procrit, chemically epoetin alfa, in dialysis-dependent patients.

Fibrogen is partnering

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened?

On this day 54 years ago, Warren Buffett took control of Berkshire Hathaway, Inc. (NYSE: BRK-A)(NYSE: BRK-B).

Where The Market Was

The Dow finished the day at 931.47. The S&P 500 traded at 89.66. Today, the Dow is trading at 25,828 and the S&P 500 is trading at 2,870.

What Else Was Going On In The World?

In 1965, construction of the St. Louis Gateway Arch was completed. The 1965 Voting Rights Act guaranteed the right to vote for African Americans. A gallon of gasoline cost 31 cents.

Buffett Takes The Reins

Ironically, in 1964, Warren Buffett intended to sell his 7-percent stake in Berkshire Hathaway, which was at that time a failing textile company. Buffett had even reached a verbal agreement with Berkshire president Seabury Stanton to sell his Berkshire shares at a price of $11.50.

That plan changed when Stanton sent Buffett an official offer to buy the shares at a price of just $11.375 per share. The price angered Buffett, who rejected the deal and instead began buying up shares of Berkshire. By early 1965, Berkshire’s share price was up to $15. On May 10, 1965, Stanton resigned as president of Berkshire, citing disagreements with an “outside interest.” Buffett had taken over control of Berkshire by purchasing a 40-percent ownership stake in the company.

Today, Berkshire’s stock trades at roughly $314,000 per share and the company is valued at $513 billion.

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Photo by The White House via Wikimedia. 

Boston Beer Company Inc (NYSE: SAM), the parent company of Sam Adams, reached an agreement to acquire Dogfish Head Brewery. This could prove to be ”trophy material,” according to Macquarie Research.

The Analyst

Macquarie analysts maintain a Neutral rating on Boston Beer with a price target lifted from $325 to $365.

The Thesis

Boston Beer paid around $300 million in cash and share issuance to acquire Dogfish, which the analysts said implies a multiple of 2.6 times estimated 2019 sales or $1,000 a barrel of beer. This represents a premium to Sam Adams’ $885 average, but Dogfish sells at higher price points and should contribute seven to eight points to Boston Beer’s sales growth in 2019.

The acquisition is also expected to be slightly accretive to 2019 earnings by 1.5 percent and rise to 6.5 percent accretive to earnings the following year. Cost saving synergies are expected to be realized in 2020 through sales and distribution costs and brewing.

Dogfish’s sales are growing at a double-digit rate which is likely to “significantly” mitigate Boston Beer’s declining volumes, according to Macquarie. As such, the acquisition of Dogfish and the addition of its founder Sam Alagione to the board will “bring fuel” to the company’s growth story.

Price Action

Boston Beer’s stock traded higher by 3 percent at $343 per share Friday afternoon.

Related Links:

As Suds Sales Decline, Goldman Downgrades Boston Beer

Bank Of America Upgrades Anheuser Busch, But Says Mainstream Beer Still Slumping

Photo credit: Adam Barhan, Flickr

Some of the stocks that may grab investor focus today are:

• Wall Street expects Cardinal Health, Inc. (NYSE: CAH) to report quarterly earnings at $1.43 per share on revenue of $35.20 billion before the opening bell. Cardinal Health shares rose 1.57 percent to close at $49.71 on Wednesday.
• Analysts expect Booking Holdings Inc. (NASDAQ: BKNG) to post quarterly earnings at $11.26 per share on revenue of $2.93 billion after the closing bell. Booking shares fell 1.87 percent to close at $1,751.63 on Wednesday.
• Fossil Group Inc (NASDAQ: FOSL) reported stronger-than-expected results for its first quarter on Wednesday. Fossil shares climbed 9 percent to $13.97 in the after-hours trading session.
• Before the opening bell, Tapestry, Inc. (NYSE: TPR) is projected to report quarterly earnings at $0.41 per share on revenue of $1.34 billion. Tapestry shares fell 0.8 percent to $30.51 in after-hours trading.
• Analysts are expecting Becton, Dickinson and Company (NYSE: BDX) to have earned $2.58 per share on revenue of $4.24 billion in the latest quarter. Becton, Dickinson shares gained 1.2 percent to $235.00 in after-hours trading.
• Walt Disney Co (NYSE: DIS) reported better-than-expected results for its second quarter. Disney shares rose 0.5 percent to $135.65 in the after-hours trading session.

Find out what’s going on in today’s market and bring any questions you have to Benzinga’s PreMarket Prep.

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• Wall Street expects Wynn Resorts, Limited (NASDAQ: WYNN) to post quarterly earnings at $1.6 per share on revenue of $1.66 billion after the closing bell. Wynn Resorts shares rose 0.4 percent to $136.50 in after-hours trading.
• After the markets close, Symantec Corporation (NASDAQ: SYMC) is expected to post quarterly earnings at $0.39 per share on revenue of $1.21 billion. Symantec shares gained 0.8 percent to $22.43 in after-hours trading.
• Roku Inc (NASDAQ: ROKU) reported upbeat results for its first quarter and issued strong second-quarter sales guidance. Roku shares climbed 8.6 percent to $70.49 in the after-hours trading session.
• Analysts expect Keurig Dr Pepper Inc. (NYSE: KDP) to report quarterly

Schick razor blade parent company Edgewell Personal Care Co (NYSE: EPC) said Thursday that it reached an agreement to acquire razor retailer Harry’s for $1.37 billion.

What Happened

Edgewell will acquire Harry’s in a cash-and-stock transaction to create a “next-generation consumer products platform,” the companies said in a press release.

The acquisition will combine Harry’s “disruptive force” across the shaving and adjacent grooming market with Edgewell’s intellectual property, product technology, global scale and strong consumer brands, the companies said. 

Harry’s co-founders and co-CEOs Andy Katz-Mayfield and Jeff Raider will join the executive team of Edgewell as co-presidents of U.S. operations.

Why It’s Important

The companies said the transaction brings four benefits:

• Giving Edgewell better exposure to a broader and more diverse set of consumers.
• The creation of superior consumer connections through a fully integrated omnichannel experience.
• The generation of $20 million of EBITDA in annual cost savings by 2023, $225-$240 million of gross cost savings and $20 million of EBITDA in annual revenue synergies by 2023.
• The creation of $200-$300 million of annual organic free cash flow.

What’s Next

Edgewell and Harry’s respective board of directors both approved the transaction, which is expected to close in the first quarter of 2020. Edgewell said it will use a combination of cash on hand, net new debt and equity to finance the transaction.

Edgewell shares were falling by 9.62 percent to $35.98 at the time of publication Thursday. 

Related Links:

A Peek Into The Markets: US Stock Futures Dip Ahead Of Economic Data, Fed Speakers

28 Stocks Moving In Thursday’s Pre-Market Session

Gainers

• Workhorse Group Inc. (NASDAQ: WKHS) rose 35.9 percent to $3.60 in pre-market trading after surging 214.54 percent on Wednesday.
• The Stars Group Inc. (NASDAQ: TSG) rose 20.4 percent to $21.05 in pre-market trading after the company reported a deal with FOX Sports.
• Tapestry Inc (NYSE: TPR) shares rose 12.2 percent to $34.50 in pre-market trading after reporting upbeat Q3 profit.
• ARCA biopharma, Inc. (NASDAQ: ABIO) shares rose 10.9 percent to $16.74 in pre-market trading after reporting upbeat quarterly earnings.
• Roku, Inc. (NASDAQ: ROKU) shares rose 9.4 percent to $71.00 in pre-market trading after the company reported upbeat results for its first quarter and issued strong second-quarter sales guidance.
• Veritone, Inc. (NASDAQ: VERI) shares rose 9.1 percent to $6.75 in pre-market trading following strong Q1 results.
• Fossil Group, Inc. (NASDAQ: FOSL) rose 7.8 percent to $13.82 in pre-market trading after the company reported stronger-than-expected results for its first quarter on Wednesday.
• Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX) shares rose 7.5 percent to $3.00 in pre-market trading after falling 24.39 percent on Wednesday.
• Fox Corporation (NASDAQ: FOXA) rose 5.3 percent to $39.40 in pre-market trading after reporting better-than-expected earnings for its third quarter.
• EMC Insurance Group Inc. (NASDAQ: EMCI) rose 3.6 percent to $33.45 in pre-market trading after reporting Q1 results. Employers Mutual Casualty Company announced plans to purchase EMC Insurance Group for $36 per share in cash.
• AngloGold Ashanti Limited (NYSE: AU) rose 3.1 percent to $12.05 in pre-market trading.
• Carvana Co (NYSE: CVNA) rose 3 percent to $73.70 in pre-market trading after reporting a first-quarter sales beat. The company issued strong 2019 sales guidance.

Find out what’s going on in today’s market and bring any questions you have to Benzinga’s PreMarket Prep.

Check out these big penny stock gainers and losers

Losers

• Stamps.com Inc. (NASDAQ: STMP) fell 48.1 percent to $43.30 in pre-market trading after the company cut FY19 EPS and sales guidance.
• Conduent Incorporated (NYSE: CNDT) fell 24 percent to $9.50 in pre-market trading after the company reported worse-than-expected Q1 EPS and sales results. The company also cut FY19 sales guidance.
• Green Dot