Tuesday Morning Pre-Market Insights: AMDA, BIDU, YELP, REGN

Amedica Corporation (AMDA) shares plummeted more than -35% in pre-market trading down to $0.51 after the company announced preliminary second quarter financial results. The orthopedics implant company expects to post second quarter revenue between $4.7 million and $4.9 million, relatively flat compared to $4.7 million in revenue in the last quarter. Furthermore, the company shared that the FDA is requesting two years of clinical performance data on Valeo C CsC before it will give the product further consideration. This data will become available in 4Q15, delaying the FDA’s expected response date into the fourth quarter or into early 2016. Valeo C CsC is a ceramic spinal spacer used in surgeries. According to TipRanks, 1 analyst has provided a bullish rating on AMDA in the last 3 months.

Baidu Inc (ADR) (BIDU) shares fell more than -12% in pre-market trading to $173 after the Chinese Internet company posted mixed second quarter earnings. The company posted second quarter revenue of $2.67 billion, marking a 38% year-over-year increase. However, the company posted third quarter revenue guidance between $2.93 billion and $3 billion, which will mark a decelerating year-over-year increase of 34.5% to 37.5%. In addition, net profit for the quarter showed a minor year-over-year increase of 3.3% due to hefty expenses. The company has been spending heavily to buy market share by breaking into new sectors such as food delivery and offline services. According to the 10 analysts polled by TipRanks in the past 3 months, 4 are bullish on BIDU and 6 are neutral. The average 12-month price target on the stock is $213, marking an 8% potential upside from where the stock last closed.

Yelp Inc. (YELP) shares slipped -2.9% in pre-market trading after an analyst with Deutsche Bank downgraded the stock from Buy to Hold and slashed the price target on the stock from $56 to $31. The analyst believes that the company lags behind in the number of advertisers who use the platform. Furthermore, the analyst believes Yelp needs to shift its strategy because local online advertising has been harder to monetize than anticipated. The report states, “Yelp has seen what appears to be deteriorating salesforce productivity and/or rising churn over the past several quarters, with limited growth in net new Local Advertising Accounts.” According to the 22 analysts polled by TipRanks in the last 3 months, 10 are bullish on the stock, 11 are neutral, and 1 is bearish. The average 12-month price target on the stock is $53.50, marking a 59% potential upside from where the stock last closed.

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