Pre-market Movers: CLVR, JWEL, HNST, CVM, AMPS…

Chico’s FAS Affirms Outlook; Sets Three-Year Financial Targets

Chico’s FAS, Inc. (CHS) has affirmed its outlook for the first quarter and full year. For the first quarter, the company expects: consolidated net sales of $485 million to $500 million; and earnings per share of $0.07 to $0.11. For fiscal 2022, the company expects: consolidated net sales of $2.085 billion to $2.115 billion; and earnings per share of $0.40 to $0.50.

By fiscal 2024, the company expects EPS growth representing a CAGR of 15+% from fiscal 2021. Total revenues are estimated in excess of $2.5 billion, with Digital revenues in excess of $1.0 billion. The company targets generation of approximately $400 million of cumulative cash flow from operations in the next three years.

Molly Langenstein, Chico’s FAS CEO and President, said, “We have aggressively pursued our turnaround strategy which began in 2019. Today, we are well ahead of our plan and positioned to build on our momentum and further accelerate our growth.”

Citizens Financial Receives Regulatory Approval To Complete Acquisition Of Investors

Citizens Financial Group, Inc. (CFG) and Investors Bancorp, Inc. (ISBC) announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency to complete the acquisition of Investors Bancorp. The acquisition is anticipated to close by mid-April 2022.

Upon closing of the deal, Cummings and Michele Siekerka, who currently serve on the board of Investors, are expected to join Citizens’ board. Domenick Cama, Investors’ President and Chief Operating Officer, will join Citizens as the New York City and New Jersey Market President and Co-Head of Integration.

Gold Subdued Amid Tightening Stance From Fed Officials

Gold prices were moving lower on Friday while Treasury yields ticked higher in the wake of broad-based and persistent price pressures and a more hawkish pivot by the Federal Reserve.

Spot gold was marginally lower at $1,957.57 per ounce, while U.S. gold futures were down 0.2 percent at$1,957.90.

While fears of aggressive tightening by the Federal Reserve dented bullion’s appeal, prices were set for a third weekly gain in four due to lingering concerns around the Ukraine conflict.

Chicago Fed President Charles Evans said Thursday he’s “comfortable” with raising rates in quarter-point increments, while being “open” to a 50 basis-point move if needed.

He expects six more 25 basis point increases in the central bank’s policy interest rate by the end of the year and three more next year, putting the Fed funds rate in a range of 2.75- 3 percent by the end of 2023.

Meanwhile, the Kremlin said today that U.S. talk of Russia possibly resorting to chemical weapons in Ukraine was a tactic to divert attention away from awkward questions for Washington.

U.S. President Joe Biden will travel to a town near the Polish-Ukrainian border today as Russia continues its bombardment.

Peter Bogdanovich Had a Vision for This Film. Now It’s Finally Being Seen.

“She’s Funny That Way” wasn’t exactly the movie he set out to make, but the director’s cut was feared lost. How it came to be shown at MoMA is a complicated saga.

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By Ben Kenigsberg

Sartorius Expects 2022 Group Sales Revenue To Increase By About 15% To 19%

Sartorius AG (SARTF), a German pharmaceutical and laboratory equipment supplier, said it expects group sales revenue to increase by about 15 percent to 19 percent and an underlying EBITDA margin reaching the high level of around 34 percent again for 2022.

The mid-term targets for 2025, which anticipate sales revenue of around 5 billion euros and an underlying EBITDA margin of around 34 percent, were also confirmed.

All forecasts are based on constant currencies.

Sartorius confirmed that it plans to invest between 550 million and 600 million euros in the current year alone in light of the high demand.

Four Best Picture Contenders Are Remakes. Does That Matter to Oscar Voters?

Academy history offers clues about how “Nightmare Alley,” “West Side Story,” “CODA” and “Dune” might fare on Sunday.

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By Ben Zauzmer

Pre-market Movers: CLVR, JWEL, HNST, CVM, AMPS…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.25 A.M. ET).

In the Green

Clever Leaves Holdings Inc. (CLVR) is up over 37% at $2.18
CEL-SCI Corporation (CVM) is up over 19% at $4.80
Mercurity Fintech Holding Inc. (MFH) is up over 16% at $3.20
Tilray Brands, Inc. (TLRY) is up over 15% at $8.08
Aurora Cannabis Inc. (ACB) is up over 13% at $4.60
AMTD International Inc. (AMTD) is up over 12% at $2.83
IM Cannabis Corp. (IMCC) is up over 11% at $2.21
PolyMet Mining Corp. (PLM) is up over 6% at $3.57

In the Red

Jowell Global Ltd. (JWEL) is down over 20% at $2.05
The Honest Company, Inc. (HNST) is down over 19% at $4.85
Altus Power, Inc. (AMPS) is down over 16% at $6.50
NetSol Technologies, Inc. (NTWK) is down over 16% at $3.36
Orion Office REIT Inc. (ONL) is down over 13% at $15.50
Cyren Ltd. (CYRN) is down over 12% at $6.57
SmartRent, Inc. (SMRT) is down over 9% at $5.72
HireRight Holdings Corporation (HRT) is down over 7% at $15.22
Pear Therapeutics, Inc. (PEAR) is down over 7% at $4.10
DiDi Global Inc. (DIDI) is down over 7% at $3.52
GDS Holdings Limited (GDS) is down over 6% at $39.98
CuriosityStream Inc. (CURI) is down over 5% at $3.45
Imperial Petroleum Inc. (IMPP) is down over 5% at $1.69