After-Hours Movers: Leggett & Platt Falls on Warning, Warner Music Gains on New Buy Rating

After-Hours Stock Movers:

Rigel Pharmaceuticals , Inc. (NASDAQ:) 12% LOWER; received guidance from the U.S. Food and Drug Administration (FDA)’s review of the Company’s re-analysis of data from the FORWARD Phase 3 trial of fostamatinib for the treatment of patients with warm autoimmune hemolytic anemia (wAIHA). Based on this guidance, Rigel does not expect to file a supplemental New Drug Application (sNDA) for this indication at this time. Rigel will continue to explore its options for the wAIHA program in relation to its complete portfolio of development opportunities.

Leggett & Platt (NYSE:) 8% LOWER; Cuts FY EPS and Revenue Guidance. The company now sees revenue of $5.1 to $5.2 billion (vs prior $5.2–$5.4 billion). EPS guidance now $2.30 to $2.45 (vs prior $2.65–$2.80).

Virgin Galactic Holdings Inc (NYSE:) 3% LOWER; Wolfe Research initiates coverage with an Underperform rating with a $4 price target.

Zscaler, Inc. (NASDAQ:) 3% LOWER; announced that Amit Sinha has accepted a CEO position at a privately-held technology company and will resign from Zscaler effective October 21, 2022. Dr. Sinha will continue his role as a member of the company’s Board of Directors. Functions of R&D, Cloud Operations and Customer Support that reported to Dr. Sinha will now report directly to Jay Chaudhry, Chairman and CEO.

Warner Music Group (NASDAQ:) 3% HIGHER; Goldman Sachs initiates coverage with a Buy rating and a price target of $32.

ANGI (NASDAQ:) 1% HIGHER; announced the appointment of Joey Levin, CEO of IAC and Chairman of Angi, to CEO of Angi. Oisin Hanrahan has stepped down as CEO and Director of Angi. Mr. Levin will assume the role of CEO of Angi in addition to his duties as CEO of IAC and will oversee Angis executive leadership team and daily management of the company. These changes are effective today.

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