Stockwinners Market Radar for October 11, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
SGEN | Hot Stocks18:47 EDT Seattle Genetics CEO: Changing from one-drug to multi-product company - Says focusing on multiple partnerships with other pharmaceutical firms. Clay B. Siegall Ph.D. is speaking on CNBC.
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NMIH... | Hot Stocks18:10 EDT S&P announces changes to S&P SmallCap 600 index - S&P Dow Jones Indices will make the following changes in the S&P SmallCap 600: NMI Holdings (NMIH) will replace SciClone Pharmaceuticals (SCLN) effective prior to the open of trading on Monday, October 16. GL Capital Management is acquiring SciClone Pharmaceuticals in a deal expected to be completed on or about that date pending final closing conditions. Axcelis Technologies (ACLS) will replace Landauer (LDR) effective prior to the open of trading on Thursday, October 19. S&P 500 constituent Fortive (FTV) is acquiring Landauer in a deal expected to be completed soon pending final closing conditions.
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LITE... | Hot Stocks17:39 EDT AlphaOne Capital Partners' Dan Niles still likes Lumentum, Finisar - AlphaOne Capital Partners' Dan Niles is still long potential Apple (AAPL) suppliers Lumentum (LITE) and Finisar (FNSR). According to multiple reports, Finisar and Lumentum are possible investmnet plays for the pick up of 3-D sensing and augmented reality. Dan Niles, spoke earlier in a CNBC telephone interview.
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ARDX... | Hot Stocks17:28 EDT On The Fly: After Hours Movers - HIGHER: Ardelyx (ARDX), up 33.3% after its tenapanor study hit its primary and secondary endpoints... Babcock & Wilcox (BW), up 9.6% after VIEX Capital Advisors reported a 6.4% stake in the company, saying the shares are undervalued... Sigma Designs (SIGM), up 3.8% after it announced major restructuring actions, including cutting 200-250 positions worldwide... XL Group (XL), up 3.2% after it said it sees net losses of $1.33B related to third quarter natural catastrophes... Herbalife (HLF), up 0.9% after Carl Icahn raised his firm's stake in the company to 26.2% due to the company's self tender offer. DOWN AFTER EARNINGS: Blackhawk (HAWK), down 7.2%. ALSO LOWER: J.Jill (JILL), down 37.6% after it cut its Q3 guidance... Protagonist Therapeutics (PTGX), down 11.9% after it filed to sell common stock... NanoString (NSTG), down 9.8% after it reported lower than expected preliminary revenue for Q3... Kandi Technologies (KNDI), down 5.5% after it filed a $300M mixed securities shelf... Juniper Networks (JNPR), down 3% after it lowered its Q3 guidance.
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DXC | Hot Stocks17:27 EDT DXC Technology to form new separate publicly traded company for public sector - DXC Technology has unanimously approved a plan to combine its U.S. Public Sector business with Vencore Holding Corporation and KeyPoint Government Solutions to form a separate, independent publicly traded company to serve U.S. public sector clients. Both Vencore and KeyPoint are currently owned by affiliates of Veritas Capital, a private equity firm. Veritas Capital will remain an investor in the new company. The formation of the new company is expected to be completed by the end of March 2018, subject to regulatory and other approvals. The combination will create services provider to the U.S. government offering solutions in cybersecurity, big data analytics, cloud engineering, enterprise IT services, and systems engineering with approximately $4.3B in combined revenues and a workforce of more than 14,000.
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ACLS... | Hot Stocks17:20 EDT Axcelis to replace Landauer in S&P 600 at open on 10/19 - S&P 500 constituent Fortive (FTV) is acquiring Landauer (LDR) in a deal expected to be completed soon pending final closing conditions.
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BW | Hot Stocks17:18 EDT VIEX Capital Advisors reports 6.4% stake in Babcock & Wilcox - VIEX Capital Advisors, which reported a 6.4% active stake in Babcock & Wilcox, said in a regulatory filing that it believes the company's shares are undervalued and represented an attractive investment opportunity. VIEX added that it believes that significant value exists in the shares based on its strong global position in its industrial, power and renewable businesses. However, in order for value to be realized in light of recent execution issues in the company's renewable segment and the decline in the Issuer's share price, the reporting persons believe the board must take immediate action to monetize assets and make aggressive cost reductions, including corporate overhead, to enhance liquidity. VIEX expects the board to act most expeditiously on these fronts. To the extent the board does not present a credible plan on cost reductions and asset divestitures on its Q3 earnings call in November 2017, VIEX may seek to reconstitute the board at the Issuer's 2018 annual meeting of stockholders.
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ACLS... | Hot Stocks17:18 EDT Axcelis to replace Landauer in S&P 600 at open on 10/19 - S&P 500 constituent Fortive (FTV) is acquiring Landauer (LDR) in a deal expected to be completed soon pending final closing conditions.
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HLF | Hot Stocks17:18 EDT Icahn stake percentage in Herbalife up due to company's self tender offer - Carl Icahn reported a 26.22% stake in Herbalife as of October 11. Carl Icahn had previously reported a stake of 24.57% as of March 10. Icahn Capital said in the recent filing that "Icahn Partners Master Fund may be deemed to beneficially own, in the aggregate, 22,872,324 shares, the same amount in Icahn's prior filing in March, representing approximately 26.22% of Herbalife's outstanding shares, based upon an estimated 87,237,004 shares outstanding, which is derived by subtracting (i) the 6,732,300 shares Herbalife announced on October 11 were accepted for purchase in the tender offer." On August 21, Herbalife announced it had commenced a "modified Dutch auction" self-tender offer to purchase for cash up to an aggregate of $600M of shares of its common stock at a per share price not less than $60 nor greater than $68.00. For each share tendered, shareholders will also receive a non-transferable contractual contingent value right allowing participants in the tender offer to receive a contingent cash payment should Herbalife be acquired in a going-private transaction within two years of the commencement of the tender offer. "Specifically, the company was recently in discussions with a prospective financial investor regarding a potential transaction that could have led to the company being taken private. While these conversations were formally terminated on August 16, because these discussions contemplated the possibility of the company being taken private, the board of directors decided to provide tendering shareholders with some protection in the event the company is taken private within two years resulting in remaining shareholders possibly receiving a higher price than paid in the self-tender," said the company in its September 18 statement. Shares of Herbalife rose fractionally in the after-hours, currently up less than 1% to $78.01 per share.
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NMIH... | Hot Stocks17:17 EDT NMI Holdings to replace SciClone in S&P 600 at open on 10/16 - GL Capital Management is acquiring SciClone Pharmaceuticals in a deal expected to be completed on or about that date pending final closing conditions.
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AEMD | Hot Stocks17:08 EDT Intracoastal Capital reports 5.7% passive stake in Aethlon Medical
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TRX | Hot Stocks17:06 EDT Tanzanian Royalty reports no plan for nationalization of Tanzania's mines - Tanzanian Royalty reports that according to a Tanzanian official spokesperson that new laws in Tanzania are not a move toward nationalization of mines. The company is not affected by new laws and regulations in Tanzania and already complies. Acting CEO Jeffrey Duval stated, "The company shared with Tanzania 45% of the asset and earnings of the Buckreef Project, for which the NI 43-101 revealed 1,064,000 ounces of gold is available to be mined at that property. This Joint Venture between the company and Tanzanian - STAMICO - was undertaken long before Tanzania sought fair treatment. (..) The company will prove that even a 45% share with the country will result in a significant reward for Tanzania and thecCompany".
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PRQR | Hot Stocks17:04 EDT JDG reports 10.5% passive stake in ProQR Therapeutics
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OAS | Hot Stocks17:04 EDT Integrated Core Strategies reports 5.3% passive stake in Oasis Petroleum
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HIFR | Hot Stocks17:03 EDT InfraREIT subsidiary receives Texas PUC approval for pending asset exchange - InfraREIT announced that the Public Utility Commission of Texas voted to approve the Sale-Transfer-Merger Application, Docket No. 47469, related to the asset exchange transaction in which InfraREIT's regulated subsidiary, Sharyland Distribution & Transmission Services, L.L.C., will exchange its retail distribution assets for a group of transmission assets located in west and central Texas owned by Oncor Electric Delivery Company LLC. Based on discussions at the PUCT's open meeting on Oct. 11, 2017, the company expects the order, when signed by the PUCT, to include the issuance of a Certificate of Convenience and Necessity to SDTS. The PUCT has also approved the dismissal of the pending rate case, Docket No. 45414, of SDTS, and its tenant, Sharyland Utilities. The dismissal of the Rate Case will be effective upon the closing of the pending asset exchange transaction, which is expected to close by the end of 2017. Following closing, Sharyland's retail distribution customer classes will experience significantly lower retail delivery rates.
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FHN | Hot Stocks17:02 EDT First Tennessee Bank acquires operations, certain assets of PMC - First Tennessee Bank National Association, the regional bank of First Horizon National, has acquired the operations and certain assets of Professional Mortgage Company, or PMC. Financial terms were not disclosed.
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KMPR | Hot Stocks16:57 EDT Kemper estimates Q3 results to include pre-tax catastrophe losses of $30M-$37M - Kemper Corporation announced that it estimates that its third quarter 2017 results will include pre-tax catastrophe losses in the range of $30M-$37M, including the impacts of Hurricanes Harvey and Irma and adverse development from re-estimates of losses from catastrophes that occurred in the first half of 2017. Except for recoveries under the Florida Hurricane Catastrophe Fund, the company does not expect to recover any of these losses under its primary catastrophe reinsurance program. The company's recoveries under the Florida Hurricane Catastrophe Fund are expected to be less than $1M.
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KMPR | Hot Stocks16:56 EDT Kemper receives favorable ruling in confidential arbitration proceeding - Kemper Corporation announced that its subsidiary, Kemper Corporate Services, Inc., has received a favorable ruling in a confidential arbitration proceeding against a software vendor and has been awarded $84.3M plus interest. In October 2015, Kemper Corporate Services, Inc. filed a demand for arbitration with the American Arbitration Association, claiming that the vendor had breached the terms of a master software license and services agreement and related agreements by failing, among other things, to timely produce and deliver certain software to Kemper. The vendor denied Kemper's claims and filed a counterclaim. On October 2, 2017, the arbitrator issued a Partial Final Award in favor of Kemper. Pursuant to the material portions of the Partial Final Award: Kemper's claim that the vendor had breached the Agreements was granted; the vendor's counterclaim and affirmative defenses were denied; Kemper was awarded direct damages of $84.3M; and Kemper is entitled to pre-judgment interest in an amount to be calculated at a rate of 9%. Under the award, Kemper is also entitled to submit a petition seeking an award of certain costs and expenses of the arbitration.
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ARDX | Hot Stocks16:48 EDT Ardelyx up 62% to $8.75 after tenapanor study hits endpoints
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MKL | Hot Stocks16:47 EDT Markel sees Q3 pre-tax underwriting losses of $503M from hurricanes, earthquake - Markel Corporation announced that it expects to report third quarter pre-tax underwriting losses of $503M, net of reinstatement premiums, from Hurricanes Harvey, Irma and Maria as well as the Mexico City earthquakes. The company's estimate for the hurricane and earthquake losses is based on claims received to date and detailed policy level reviews, industry loss estimates, output from both industry and proprietary models as well as a review of in-force contracts. The company's estimate is preliminary and dependent on broad assumptions about coverage, liability and reinsurance. Accordingly, the company's actual net losses from these events may differ materially from this estimate.
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MRK | Hot Stocks16:46 EDT Merck says will not submit applications for regulatory approval for anacetrapib - Merck announced that the company will not submit applications for regulatory approval for anacetrapib, Merck's investigational cholesteryl ester transfer protein inhibitor. The decision follows a thorough review of the clinical profile of anacetrapib, including discussions with external experts. "We are deeply grateful to the researchers and patients who participated in the anacetrapib clinical development program, and in particular the REVEAL outcomes study. Unfortunately, after comprehensive evaluation, we have concluded that the clinical profile for anacetrapib does not support regulatory filings," said Roger Perlmutter, M.D., Ph.D., president, Merck Research Laboratories. "During the past half-century, Merck has made numerous, important contributions to the treatment of cardiovascular disease. Our work in cardiovascular research continues."
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SAL | Hot Stocks16:43 EDT Salisbury Bancorp CFO Donald White to resign, effective October 20 - Salisbury Bancorp announced that Donald White will resign as Executive Vice President and CFO of the company and the bank effective October 20 to pursue another career opportunity. White has served as Executive Vice President and CFO since April 2013. White's resignation is not the result of any disagreement with the company or the bank on any matter relating to operations, policies, or practices.
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JILL | Hot Stocks16:36 EDT J.Jill down 34% to $6.50 after lowering Q3 outlook
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CXP NYRT | Hot Stocks16:32 EDT Columbia Property buys two Chelsea office proporties from New York REIT - Columbia Property (CXP) has purchased two fully leased Class-A office properties in New York's Chelsea submarket from New York REIT (NYRT) for $514M. The acquisition encompasses 245-249 West 17th Street, two adjoining office buildings collectively comprising 281,294 square feet, and 218 West 18th Street, a 165,670-square-foot office building. With this acquisition, Columbia's presence in New York has increased to seven Class-A properties comprising a total of 2.6 million square feet, which together represent 44% of Columbia's overall portfolio based on gross real estate assets.
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JNPR... | Hot Stocks16:31 EDT Network equipment makers fall after peer Juniper cuts Q3 - Juniper is down over 4% in post-market trading after lowering its Q3 financial view. The company said it is lowering its revenue view, "primarily due to lower than expected revenue in our cloud vertical." Shares of networking rivals including Cisco (CSCO), Ciena (CIEN) are also lower.
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ARDX | Hot Stocks16:31 EDT Ardelyx trading resumes
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NLY | Hot Stocks16:30 EDT Annaly Capital names CEO Keyes chairman of the board - Annaly Capital Management announced that Kevin G. Keyes, the company's CEO and president and a member of the board of directors of the company, has been appointed as chairman of the board, effective January 1, 2018. Wellington J. Denahan, Annaly's co-founder, executive chairman and chairman of the board, will retire as executive chairman and chairman of the board, effective December 31, 2017, but will continue to serve as a member of the board.
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TRVN | Hot Stocks16:30 EDT Trevena trading resumes
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JELD | Hot Stocks16:26 EDT Jeld-Wen to acquire Domoferm - Jeld-Wen has signed a definitive agreement to acquire the Domoferm Group of companies from holding company Domoferm International GmbH. Domoferm is based in Ganserndorf, Austria, with over 1,000 employees at four manufacturing sites in Austria, Germany and the Czech Republic. Jeld-Wen expects the transaction to close in mid to late Q1 of 2018, subject to customary closing conditions. Terms of the acquisition were not disclosed. Jeld-Wen expects the acquisition to add approximately EUR110M in annualized revenue. Additionally, Jeld-Wen expects the acquisition to be accretive to EPS in 2018, excluding the impact of purchase accounting.
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HAWK | Hot Stocks16:21 EDT Blackhawk down 5% to $42.00 following mixed Q3 results
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AM AMGP | Hot Stocks16:20 EDT Antero Midstream Partners GP raises quarterly distribution 28% to 34c per unit - The board of directors of Antero Midstream Partners GP (AMGP), the general partner of Antero Midstream (AM), declared a cash distribution of 34c per unit for the third quarter of 2017. The distribution represents a 28% increase compared to the prior year quarter and a 6% increase sequentially. The distribution is Antero Midstream's eleventh consecutive quarterly distribution increase since its initial public offering in November 2014 and will be payable on November 16, 2017 to unitholders of record as of November 1, 2017.
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XL | Hot Stocks16:18 EDT XL Group sees net losses of $1.33B relating to Harvey, Irma, Maria - XL Group announced its preliminary estimate of net losses of approximately $1.33B relating to Hurricanes Harvey, Irma and Maria. For the third quarter of 2017, total catastrophe losses including smaller loss events are preliminarily estimated at approximately $1.48B. These preliminary estimates are pre-tax and net of reinsurance, reinstatement and adjustment premiums and redeemable non-controlling interest. On an after-tax basis, the preliminary estimate of total catastrophe net losses for the quarter is approximately $1.35B. The company's preliminary estimates are based on a combination of catastrophe modeling, exposure analysis and preliminary ground-up notifications and are consistent with private insured market loss estimates for Hurricanes Harvey, Irma and Maria in the range of $75B-$90B. Hurricanes Harvey, Irma and Maria each contributed approximately 25%, 40% and 25%, respectively, to the company loss estimates, with 10% related to all other events in the quarter, most notably the Mexican earthquakes and Typhoon Hato. The estimated losses are approximately evenly split between the company's Insurance and Reinsurance segments. Following these events and meaningful reinsurance recoveries this quarter, the company continues to have significant catastrophe reinsurance protections remaining for 2017 and 2018, including catastrophe bond protections, some of which extend through 2019.
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SIGM | Hot Stocks16:18 EDT Sigma Designs announces major restructuring actions - Sigma Designs announced restructuring activities intended to refocus its operating expenses and accelerate the return to profitability. These actions, which will focus on streamlining the company's Connected Smart TV Platforms business will commence in the second half of October 2017 and are expected to be fully implemented by the end of the fourth quarter of fiscal year 2018, ending February 3, 2018. Sigma currently estimates that these actions will result in lowering quarterly non-GAAP operating expenses from approximately $26M in the second quarter of fiscal 2018, ended July 29, 2017, to an approximate $17M-$18M starting in fiscal year 2019. The company anticipates these activities will reduce annual fiscal year 2019 non-GAAP operating expenses by approximately $34M from expected fiscal year 2018 levels. Restructuring will result in, among other things, reducing headcount of between 200 to 250 positions worldwide and the consolidation of certain facilities. The Company expects to incur total one-time charges for severance and lease termination of approximately $8M-$10M over the third and fourth quarters in the current fiscal year. The company expects all other restructuring and restructuring-related charges to be between $5M-$7M, which includes estimated asset impairment charges and other costs. In addition, the company is continuing with its strategic alternatives review process. "As part of our business review, we have decided that in the near-term, the most prudent action is to significantly reduce expenses," said Thinh Tran, President and CEO of Sigma Designs, Inc. "This will not only bring expenses in line with our current revenue levels, but we believe it will also improve our ability to pursue other strategic alternatives. I recognize this will be a difficult transition period for the Sigma team. However, I am confident these actions will deliver the improved financial performance that our shareholders expect while continuing to support our existing major customers."
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WDR | Hot Stocks16:15 EDT Waddell & Reed reports preliminary September AUM $80.9B - Waddell & Reed Financial reported preliminary assets under management of $80.9B for the month ended September 30, 2017, compared to $80.3B on August 31, 2017.
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VSTM AZN | Hot Stocks16:14 EDT Verastem names NgocDiep Le, MD, PhD as Chief Medical Officer - Verastem (VSTM) announced the appointment of NgocDiep Le, MD, PhD, as Chief Medical Officer. Dr. Le will be responsible for overseeing the development strategy and activities for Verastem's core assets, duvelisib and defactinib. Dr. Le joins Verastem from MedImmune, a wholly owned subsidiary of AstraZeneca (AZN), where she served as Vice President, Immuno-Oncology Innovative Medicines and led the product development teams for multiple high-priority immuno-oncology assets.
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ARDX | Hot Stocks16:10 EDT Ardelyx trading to resume at 4:30 pm ET - Ardelyx trading is set to resume at 4:30 pm ET, with quotation scheduled to resume at 4:25 pm ET, according to Nasdaq.
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HLF | Hot Stocks16:09 EDT Icahn raises stake in Herbalife to 26.2% - A regulatory filing shows that Carl Icahn may be deemed to beneficially own, in the aggregate, 22,872,324 shares of Herbalife, representing approximately 26.22% of the company's outstanding shares.
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TRVN | Hot Stocks16:06 EDT Trevena trading to resume at 4:30 pm ET - Trevena trading is set to resume at 4:30 pm ET, with quotation scheduled to resume at 4:25 pm ET, according to Nasdaq.
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TRVN | Hot Stocks16:06 EDT Trevena to restructure, halt investment in early stage research - Trevena announced an update to its strategy to focus its resources on the potential approval and commercialization of OLINVO in the United States. With this strategic re-positioning, the company is halting its investment in early stage research. The company intends to complete the ongoing Phase 1 trial of TRV250 for acute migraine, after which it will assess options for further development of this asset, as well as for its series of novel S1P modulators for neuropathic pain. As part of this plan, the company is reducing its workforce by approximately 30%, or 21 full time employees, predominantly from its research team. As part of this, Chief Scientific Officer Michael Lark, Ph.D., will depart the company in mid-December. The company estimates this reduction in force, along with other cost savings initiatives, will reduce cash expected to be used in operating activities over the next three calendar years by approximately $40M. The company also expects to incur a charge in Q4 of approximately $2.0M related to the reduction, of which approximately $1.7M is a cash charge relating primarily to severance costs and related expenses.
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ZTO | Hot Stocks16:06 EDT ZTO Express announces increase in delivery service prices - ZTO Express announced that it is implementing certain increases in the prices of its delivery services, effective October 10. Specifically, the company will increase the last mile delivery fees payable by the parcel pick-up outlets to the delivery outlets, and the network transit fees payable by its network partners to the company for its services. The expected increase in fees varies by parcel weight and geographic location.
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ARDX | Hot Stocks16:05 EDT Ardelyx says study of tenapanor hits primary, all secondary endpoints - Ardelyx reported positive results from T3MPO-2, its second Phase 3 study of tenapanor for irritable bowel syndrome with constipation, IBS-C. The study hit statistical significance for the primary endpoint and all secondary endpoints evaluated for the topline results and demonstrated the ability to normalize bowel movements. The primary endpoint, the combined responder rate for six of 12 weeks, showed that a greater proportion of tenapanor-treated patients compared to placebo-treated patients had at least a 30 percent reduction in abdominal pain and an increase of one or more complete spontaneous bowel movements In the same week for at least six of the 12 weeks of the treatment period. In addition, tenapanor achieved statistical significance for the CSBM and abdominal pain responder rates in the six of 12 and nine of 12-treatment weeks, with a consistent response across the 26 weeks of the study. Tenapanor was well-tolerated in treated patients. "These results are a game-changer for patients with IBS-C, their treating physicians and for Ardelyx as a company," said Mike Raab, president and chief executive officer of Ardelyx. "They demonstrate the significant benefit tenapanor can have for patients with IBS-C, importantly, leading to a normalization of bowel movements for many patients. These results show that tenapanor has significant potential in the market and bolsters our commitment to identify the ideal collaboration partner to help ensure that we reach the most patients possible who would benefit from therapy."
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DCPH | Hot Stocks16:03 EDT Viking Global Investors reports 8.1% passive stake in Deciphera
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ARDX | Hot Stocks16:00 EDT Ardelyx trading halted, news pending
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TRVN | Hot Stocks16:00 EDT Trevena trading halted, news pending
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HMNY NFLX | Hot Stocks15:49 EDT MoviePass majority owner rises again despite dubious Citron tweet - Shares of Helios and Matheson (HMNY) are soaring again as it appears investors are continuing to bet on a Netflix-style movie subscription business. Since announcing the acquisition of a majority stake of the online ticketing service, MoviePass, back in August, the company's shares have jumped over 1000%. Today, however, short-seller Citron Research tweeted saying the stock should trade "back to $20." 'BACK TO $20': In a tweet earlier today, Citron Research said that Helios and Matheson "stock to trade back to $20 Retail investors are warned. You might like product but $1+bill it isn't. Giving away $1 for .90 no biz" MOVIEPASS MAJORITY STAKE: Back on August 15, Helios and Matheson announced that it had entered into a definitive agreement to acquire a majority stake of movie subscription technology company MoviePass, which is led by Netflix (NFLX) co-founder and former Redbox president Mitch Lowe. Helios and Matheson also introduced a new monthly movie ticket subscription of $9.95, allowing customers to get in to one showing every day at any theater in the U.S. that accepts debit cards for about the price of a single ticket each month. The following month, MoviePass subscribers rose to over 400,000 from less than 20,000. Since the acquisition in August, Helios and Matheson's stock has jumped more than 1000%. PRICE ACTION: In afternoon trading, Helios and Matheson has advanced about 22% to $34 per share. On August 14, the stock had closed at $2.79 per share.
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TDG | Hot Stocks15:23 EDT TransDigm dips following new Capitol Forum report - Shares of TransDigm have weakened in afternoon trading. The pullback comes after Capitol Forum said, according to Bloomberg, that the DOJ's antitrust division is probing the company's acquisition of Schroth Safety Products and Takata Protection Systems. TransDigm, which has been the subject of several prior reports from Capitol Forum, is down $2.13, or 0.8%, to $264.40 at time of writing.
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ENTA ABBV | Hot Stocks15:04 EDT Enanta: AbbVie to present Mavyret data at AASLD - Enanta Pharmaceuticals (ENTA) announced that AbbVie (ABBV) will present new data evaluating MAVYRET, its once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus infection across all major genotypes, at the annual meeting of the American Association for the Study of Liver Diseases. Sixteen AbbVie scientific abstracts have been accepted, including two oral presentations studying the use of MAVYRET in patients across genotypes with compensated cirrhosis and in treatment-naive patients with genotype 3 HCV. These populations have historically had limited treatment options. A third oral presentation evaluates adherence to treatment with MAVYRET in the clinical development program. The Liver Meeting 2017 will take place in Washington, D.C., from October 20 - 24, 2017. Researchers will also present data obtained from AbbVie's MAVYRET clinical program evaluating patients with cardiovascular, metabolic and renal conditions as well as data on HCV patient preferences.
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ABBV | Hot Stocks15:00 EDT AbbVie says new Mavyret data to be presented at AASLD meeting - AbbVie announced that it will present new data evaluating Mavyret, its once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus infection across all major genotypes at the annual meeting of the American Association for the Study of Liver Diseases, or AASLD. Sixteen AbbVie scientific abstracts have been accepted, including two oral presentations studying the use of Mavyret in patients across genotypes with compensated cirrhosis and treatment-naive patients with genotype 3 HCV. These populations have historically had limited treatment options. A third oral presentation evaluates adherence to treatment with Mavyret in the clinical development program. The Liver Meeting will take place from October 20-24.
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NCNA | Hot Stocks14:49 EDT Sofinnova Venture Parnters VIII reports 15.3% stake in NuCana
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CBL | Hot Stocks14:41 EDT CBL & Associates CEO says will end year with 93%-94% occupancy - CBL & Associates CEO Charles Lebovitz, while speaking on CNBC, said that while the year has been "challenging," the company will end 2017 with 93%-94% occupancy.
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XPER AVGO | Hot Stocks14:26 EDT Xperi CEO: Court reasoning on Invensas case 'flawed' - Invensas Corporation, a subsidiary of Xperi Corporation (XPER), issued a statement giving an update on a nullity proceeding filed by Avago Technologies GmbH against a patent at issue in Invensas' legal proceedings against Broadcom (AVGO) and certain of its affiliates and distributors in Germany. On October 5, 2017, the German Federal Patent Court issued a notice giving its tentative view that the German part of Invensas' EP 1 186 034 B1, a patent Broadcom has been adjudicated to infringe, may be invalid for various reasons. The Court made it clear that this was not its final decision, but instead was being issued "in preparation for the oral hearing on 25 January 2018, ... with no intention of anticipating the outcome of the oral hearing." The Court's statement is designed to guide the parties and focus their arguments in advance of the oral hearing. Invensas will make a further submission in response to the Court's notice on December 6, 2017. "We think the Court's reasoning in its preliminary statement is flawed, and we look forward to having the opportunity to provide further briefing and arguments at the hearing in January," said Jon Kirchner, the company's Chief Executive Officer. According to common German legal practice, in response to the preliminary statement Invensas has voluntarily agreed to abstain, at least temporarily, from enforcing the Regional Court of Mannheim's judgments of infringement of the '034 Patent pending the nullity hearing. "We continue to believe the patent is valid and will be upheld at the hearing." "The Court's preliminary statement is not final, and has no impact on our ITC investigation against Broadcom," Kirchner added, in reference to an Administrative Law Judge's initial determination that Broadcom broadly infringes another one of Invensas' patents across all of Broadcom's significant product lines. "The ITC proceedings are entirely separate and the ITC's final determination is scheduled to be issued on December 1, 2017, well before the German nullity case is ultimately decided. Therefore, we view the ITC proceedings as the primary catalyst in our discussions with Broadcom."
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CMCSA | Hot Stocks14:21 EDT Trump says 'disgusting' press can write 'whatever they want' - President Trump, in response to a reporter's question at the White House, said it is "disgusting" that the press can write "whatever they want to write." He again rebutted NBC News' report that he sought a tenfold increase in the nation's nuclear arsenal. Comcast (CMCSA) owns NBC. Trump added that media "makes up sources" and that "there are no sources." The President says he wants the country's nuclear arsenal in "perfect" condition and "prefect" shape.
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ADP | Hot Stocks14:08 EDT Pershing Square 'not seeking control' of ADP - Bill Ackman's Pershing Square delivered last night a presentation relating to its investment in ADP. Pershing stressed that it is not seeking control of the company and does not want to change ADP's dividend policy. Reference Link
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QCOM | Hot Stocks14:06 EDT Qualcomm disagrees with Taiwan Fair Trade Commission fine of $773M - Qualcomm announced that the Taiwan Fair Trade Commission has reached a decision in the TFTC's investigation, stating in a press release that certain of the company's business practices are in violation of Taiwanese competition law and imposing a fine of approximately $23.4B Taiwan dollars, or approximately $773M. Qualcomm said it "disagrees with the decision summarized in the TFTC's press release and intends to seek to stay any required behavioral measures and appeal the decision to the Taiwanese courts after receiving the TFTC's formal decision, which is expected in the next several weeks. The fine bears no rational relationship to the amount of Qualcomm's revenues or activities in Taiwan, and Qualcomm will appeal the amount of the fine and the method used to calculate it."
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SPX | Hot Stocks14:04 EDT Fed members attribute softening inflation to one-time factors - Minutes from the last Federal Reserve meeting read, "In their review of the recent data and the outlook for inflation, participants discussed a number of factors that could be contributing to the low readings on consumer prices this year and weighed the extent to which those factors might be transitory or could prove more persistent. Many participants continued to believe that the cyclical pressures associated with a tightening labor market or an economy operating above its potential were likely to show through to higher inflation over the medium term. In addition, many judged that at least part of the softening in inflation this year was the result of idiosyncratic or one-time factors, and, thus, their effects were likely to fade over time. However, other developments, such as the effects of earlier changes to government health-care programs that had been holding down health-care costs, might continue to do so for some time. Some participants discussed the possibility that secular trends, such as the influence of technological innovations on competition and business pricing, also might have been muting inflationary pressures and could be intensifying. It was noted that other advanced economies were also experiencing low inflation, which might suggest that common global factors could be contributing to persistence of below-target inflation in the United States and abroad."
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FB | Hot Stocks13:47 EDT Oculus permanently lowers price of Rift to $399 - Facebook's Oculus said that it is permanently lowering the price of the Oculus Rift to $399. Each Rift bundle comes with Touch controllers, sensors, and six free apps that give you hours of entertainment including Epic's arcade shooter, Robo Recall, and our creative tools, Medium and Quill. "Rift is here to stay with years of amazing content on the horizon," the Oculus Team said in a statement. "We can't wait for you see what else we have in store, from innovative new software features to compelling content and blockbuster IPs." Reference Link
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DIS... | Hot Stocks13:46 EDT FCC Commissioner, in response to Trump, says 'not how it works' - Jessica Rosenworcel, who returned as a Commissioner to the Federal Communications Commission on August 11 after being nominated by President Trump, tweeted "Not how it works." after Trump asked via Twitter, "At what point is it appropriate to challenge their License?" Rosenworcel also provided a link to an FCC document titled "The Public and Broadcasting: How to Get the Most Service from Your Local Station." Shares of the major broadcast network owners, Comcast (CMCSA), Disney (DIS), CBS (CBS) and 21st Century Fox (FOXA), are trading down after President Trump tweeted this morning, "With all of the Fake News coming out of NBC and the Networks, at what point is it appropriate to challenge their License? Bad for country!" Comcast owns NBC and Disney owns ABC. Reference Link
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FB | Hot Stocks13:43 EDT Oculus unveils standalone VR device Oculus Go - Facebook's Oculus unveiled a standalone VR device called the Oculus Go in a blog post. The device is n all-in-one, 3DOF standalone headset with an orientation-tracked controller, the company said. Oculus Go will be available globally in early 2018 and will cost $199. Oculus Go is compatible with software developed for Gear VR. Oculus Go is a standalone VR headset that comes with an orientation-tracked controller. It supports 3DOF head tracking, has best-in-class optics, a wide field of view, and fantastic ergonomics. Oculus Go has a high-resolution fast-switch LCD screen has a dramatic effect on visual clarity and reduces screen door effect. The headset is super lightweight, and the new fabric used for the facial interface is soft and breathable. Built-in speakers provide an integrated audio system that transports you straight into VR without needing headphones. Reference Link
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FOXA | Hot Stocks13:33 EDT Fox remains committed to airing World Cup games after U.S. loss - 21st Century Fox said in a statement, "Last night's World Cup qualifying results do not change FOX Sports' passion for the world's biggest sporting event. While the U.S. was eliminated, the biggest stars in the world from Lionel Messi to Cristiano Ronaldo stamped their tickets to Russia on the same day, and will battle teams ranging from Mexico to England that have massive fan bases in America. The World Cup is the greatest sporting event on earth that changes the world for one month every four years, and FOX Sports remains steadfast in our commitment of bringing the games to America for the first time in 2018 and will continue to support the U.S. Soccer Federation as they look ahead to the 2022 World Cup." John Ourand of Sports Business Journal posted the statement on Facebook. Shares of 21st Century Fox are down 68c to $26.09 in afternoon trading. Reference Link
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NWSA... | Hot Stocks12:49 EDT Media shares fall after Trump comment on challenging licenses - Shares of News Corp. (NWSA), Comcast (CMCSA), CBS (CBS), New York Times (NYT) and Viacom (VIAB) are dipping in afternoon trading. In a recent tweet, President Donald Trump said: "With all of the Fake News coming out of NBC and the Networks, at what point is it appropriate to challenge their License? Bad for country!" Reference Link
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CAT | Hot Stocks12:46 EDT Caterpillar maintains quarterly dividend of 78c per share - The board of Caterpillar voted to maintain the quarterly cash dividend of 78c per share of common stock, payable November 20, to shareholders of record at the close of business on October 23.
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FB | Hot Stocks12:46 EDT Facebook tells CNBC 'working to get things back to normal' - A spokesperson tells CNBC that Facebook is "working to get things back to normal" following widespread reports that Facebook and Instagram are down for many users around the globe.
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CMCSA... | Hot Stocks12:27 EDT NAB says 'contrary' to First Amendment right to threaten TV license renewals - In response to a tweet by President Donald Trump regarding TV license renewals, the following statement was issued by Gordon Smith, the President and CEO of the National Association of Broadcasters: "The founders of our nation set as a cornerstone of our democracy the First Amendment, forever enshrining and protecting freedom of the press. It is contrary to this fundamental right for any government official to threaten the revocation of an FCC license simply because of a disagreement with the reporting of a journalist." The owners of the "big 4" broadcast networks are Comcast (CMCSA), Disney (DIS), CBS (CBS) and 21st Century Fox (FOXA).
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SHLD | Hot Stocks12:13 EDT Sears drops after Canadian counterpart announces liquidation - Sears Holdings' stock dropped after its Canadian counterpart announced it will shut down. Sears Canada, which has been operating creditor protection since June, announced on Tuesday evening that it will be applying to the Ontario Superior Court of Justice for approval to liquidate all of its remaining stores and assets. "It is expected the Court will hear the motion on October 13, 2017. Pending approval of the Court, " said the company in a statement. U.S.-based Sears Holdings owns about 10% of Sears Canada, but operates separately. FAILED RESTRUCTURING PLAN: The Canadian retailer filed for creditor protection in June and outlined a restructuring plan that included thousands of job cuts and store closings. Just last week, Sears Canada won court approval to close 11 stores and sell some businesses, and to extend creditor protection to November 7. In August, Brandon Stranzl, the executive chairman of Sears Canada stepped down in order to head up a bid to buy the company. In July, Stranzl told employees that he, along with other investors, was preparing a bid for the company. NO VIABLE TRANSACTION: Sears Canada, which has been laboring under almost a billion dollars of debt, failed to materialize a "viable" transaction. "Sears Canada received and implemented going concern transactions for various lines of business, but following exhaustive efforts, no viable transaction for the company to continue as a going concern was received. Accordingly, Sears Canada, with the recommendation of its advisors and approval of the Monitor, FTI Consulting Inc., is seeking an order to commence a liquidation that would result in a wind-down of its business following Court approval. The company deeply regrets this pending outcome and the resulting loss of jobs and store closures," said the retailer in a statement on Tuesday evening. PRICE ACTION: Shares of Sears Holdings are down 6.4% to $6.27 per share in midday trading.
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RGSE | Hot Stocks12:11 EDT Real Goods Solar vaults 33% after after selected as 'exclusive' installer' - Earlier today, RGS Energy announced it has been selected by Solarize New Haven, a community-based residential solar purchasing cooperative, to bring solar electricity to homes and business owners in New Haven, Connecticut. Solarize Connecticut is a community-supported buying program that uses discounted pricing, town supported education and outreach, competitively selected installers and access to flexible financing to significantly reduce the cost of solar for New Haven's more than 14,000 owner occupied homes. The campaign and sign up period will commence on October 18 and run through March 7."We are thrilled to be joining forces with Solarize Connecticut once again for what we believe will be another successful Solarize program," said Tom Champlin, Director of sales at RGS Energy. "We will provide our exceptional service to New Haven, supported by our 31 local Connecticut employees, based out of our 10,000 square foot, centrally located, warehouse in Bloomfield." Shares of Real Goods Solar are up 33% to $2.25 per share in midday trading.
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PVG | Hot Stocks12:11 EDT Pretium Resources jumps after 'positive' Q3 production update - Shares of Pretium Resources (PVG) surged after the company reported third quarter production results for the high-grade gold Brucejack Mine. WHAT'S NEW: Pretium said that, in Q3, the Brucejack Mine produced 82,203 ounces of gold. In July, at the onset of the quarter, mill feed was predominately from low-grade stockpiles and development muck and 16,882 ounces of gold were produced, the company said. As the ramp-up progressed, the mill began processing stope ore exclusively and an additional 65,321 ounces of gold were produced in the last two months of the quarter. For the quarter, mill feed grade and gold recoveries averaged 10.52 grams per tonne gold and 96.49% respectively. Mill feed grade and gold recoveries averaged 12.36 grams per tonne gold and 96.92% respectively during the last two months of the quarter as the mill transitioned to processing stope ore exclusively. The mill processed a total of 261,262 tonnes of ore for the third quarter for an average of 2,840 tonnes per day. STREET RESEARCH: Following the production update, Scotiabank upgraded the stock to Outperform from Sector Perform, citing the "positive" Q3 production results. PRICE ACTION: Near midday, shares of Pretium Resources are up 19.7% to $11.59.
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KR | Hot Stocks11:35 EDT Kroger trading resumes
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GM | Hot Stocks11:34 EDT General Motors reports China September sales up 6.6% - General Motors and its joint ventures in China achieved their highest September sales ever, with deliveries rising 6.6% on an annual basis to 366,305 vehicles, the company announced. "In the first nine months of 2017, GM and its joint ventures in China delivered a record 2,748,139 vehicles," GM noted.
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SENEB | Hot Stocks11:27 EDT Seneca Foods trading resumes
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KR | Hot Stocks11:26 EDT Kroger clarifies on convenience store business annual sales - In a press release issued earlier today, Kroger said its convenience store business generated revenue of $1.4B in 2016. In a clarifying follow-up press release, Kroger stated: "This figure only reflects inside sales. Including fuel, Kroger's convenience store business generated $4B in total sales last year." Kroger has announced its intention to explore strategic alternatives for its convenience store business, including a potential sale, as part of its "Restock Kroger" plan, as announced earlier this morning.
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MCK LLY | Hot Stocks11:23 EDT McKesson picked by Eli Lilly for Verzenio limited distribution network - Biologics, a McKesson Specialty Health (MCK) oncology pharmacy services company, has been selected by Eli Lilly (LLY) to be in the limited distribution network for VERZENIO, Eli Lilly's first oral oncolytic indicated for metastatic breast cancer. Approved by the U.S. FDA on September 28, VERZENIO is a CDK inhibitor selective for CDK4 and CDK6. VERZENIO, an oral cell cycle inhibitor, obstructs the growth of cancer cells by specifically blocking cyclin-dependent kinases, CDK4 and CDK6.
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SENEB | Hot Stocks11:22 EDT Seneca Foods trading halted, volatility trading pause
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KR | Hot Stocks11:04 EDT Kroger trading halted, news pending
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THC | Hot Stocks11:02 EDT Tenet agrees to sell MacNeal Hospital to Loyola Medicine - Tenet Healthcare Corporation announced today that it has reached a definitive agreement with Loyola Medicine, an affiliate of Trinity Health, under which Loyola will purchase MacNeal Hospital as well as other operations affiliated with the hospital. The affiliated operations include local Tenet-owned physician practices; the Chicago Health System, an independent practice association of nearly 1,000 physicians; and the associated CHS accountable care organization. Under the terms of the agreement, MacNeal and these related operations will be added to the Loyola Medicine regional health system, which serves the west, south and southwest suburbs of Chicago. The transaction is expected to be completed in 1Q18, subject to regulatory approvals and customary closing conditions.
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DAL... | Hot Stocks10:56 EDT Delta: 'Hard for Boeing to claim harm for product they don't produce' - Commenting on the Bombardier (BDRBF) CSeries case, Delta (DAL) says it's "very hard for Boeing (BA) or any U.S. manufacturer to claim harm for a product they don't produce."
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DAL | Hot Stocks10:52 EDT Delta says hasn't seen material decline in demand for travel to Las Vegas - Says hasn't seen material decline in demand for travel to Las Vegas following mass shooting.
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CASH | Hot Stocks10:46 EDT Meta Financial jumps over 9% after guiding to more refund advance loans - In anticipation of the 2018 tax season, MetaBank, a wholly-owned subsidiary of Meta Financial Group is pleased to announce that, based upon currently available information, it expects to originate over $1B of interest-free refund advance loans across its multiple tax partners during the 2018 tax season. Meta expects that it will retain significantly more refund advance loans on its balance sheet through June 30, 2018, as compared to the prior year, leading to higher overall revenues, expenses and provision for loan losses with respect to the portion of Meta's Payments segment attributable to refund advance loans. During the 2017 tax season, MetaBank originated approximately $1.26B of interest-free refund advance loans and retained $576M on its balance sheet. The company is a party to multi-year agreements with each of its existing partners with respect to refund advance loans. Consistent with Meta's disclosure in its July 2 press release, Meta recognized a total impairment charge of $10.2M relating to the non-renewal of the H&R Block relationship, which amount was expensed in the recently completed 2017 fiscal fourth quarter. MetaBank processed approximately 2.4M refund transfers in 2017 through its tax payments divisions, including its Refund Advantage and EPS Financial divisions, and expects to process over 2.5M refund transfers through these divisions in 2018. In considering Meta's existing relationships, Meta anticipates that pre-tax earnings from its refund advance loans in the 2018 tax season will be approximately the same as compared to the 2017 tax season, and further expects modest growth in pre-tax earnings in the 2018 tax season, as compared to the 2017 tax season, from its refund transfer operations. Shares of Meta Financial are up over 9% to $85 per share in morning trading.
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COH... | Hot Stocks10:46 EDT Coach calls name change to 'Tapestry' signal of 'evolution' - Shares of Coach (COH) dropped in morning trading after the company announced it will change its name to reflect its evolution to a multibrand firm. Separately, the stock was downgraded to Neutral at Consumer Edge. INTRODUCING 'TAPESTRY': Luxury goods maker Coach announced before the open this morning that it will change its name to Tapestry Inc. to reflect its expansion to a multibrand company following the acquisitions of Stuart Weitzman in 2015 and Kate Spade earlier this year. Coach Chief Executive Victor Luis commented, "We are now at a defining moment in our corporate reinvention, having evolved from a mono-brand specialty retailer to a true house of emotional, desirable brands, all leveraging our strong operational foundation. Each of our brands has a unique proposition, fulfilling different fashion sensibilities and emotional needs within the very attractive and growing $80B global market for premium handbag and accessories, footwear and outerwear. At the same time, our brands are also built upon the shared values of optimism, inclusivity and innovation." According to Luis, "In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values. As such, we believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets." The company, which said the name change will be effective October 31, will also change its stock symbol to "TPR". WHAT'S NOTABLE: Luis, who was appointed CEO in 2014, laid out a plan to transform Coach three years ago with a goal of increasing relevancy and improving customer perceptions. In August, Luis said Coach was at an "exciting and pivotal moment" in its journey, and that while the company was focused on driving top- and bottom-line growth, it is also committed to achieving sustainable long-term profitability "through the health of our brands." In an interview with The New York Times, Luis said he wants to send signal to rivals in the global premium fashion market that "this is a home that is not limited to any category, channel or geography." Luis did not comment on how many or what other brands he may look to add to the "tapestry." OTHER CORPORATE REBRANDS: Coach's name change to Tapestry follows other corporate rebrandings, including the 2015 restructuring of Google (GOOG, GOOGL) to Alphabet and Tribune Publishing's 2016 name change to Tronc (TRNC). DOWNGRADE: This morning, Consumer Edge analyst David Schick downgraded Coach to Neutral from Outperform and cut his price target on shares to $40 from $50. Schick's downgrade follows a recent downgrade by Piper Jaffray analyst Erinn Murphy, who said last week that the stock is likely to enter a "period of digestion" as it integrates Kate Spade. Wolfe Research analyst Adrienne Yih Tennant also downgraded the stock recently based on a deceleration in average unit retail increases and evidence of deeper promos at full-line retail. OTHERS TO WATCH: Others in the luxury accessory space trading lower include Vera Bradley (VRA) and Michael Kors (KORS). PRICE ACTION: Coach is down nearly 2% in morning trading to $39.30. Shares are up almost 12% year-to-date.
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JNJ... | Hot Stocks10:40 EDT Battleground: Goldman says sell J&J, but Jefferies sees 'dividend machine' - This morning, Jefferies analyst Jeffrey Holford upgraded Johnson & Johnson (JNJ) to Buy as he believes its Pharmaceutical division will drive earnings per share growth and dividend momentum. This is the second upgrade of the Dow member's this week, as his peer at Wells Fargo also raised the stock's rating to Outperform, citing expectations for a reacceleration of the company's sales growth. However, not all are as bullish on Johnson & Johnson. Late last month, Goldman Sachs analyst Jami Rubin downgraded the stock to Sell. DIVIDEND 'MACHINE': In a research note to investors, Jefferies' Holford upgraded Johnson & Johnson to Buy from Hold and raised his price target on the shares to $157 from $145. The analyst pointed out that he believes the company's Pharma division is "under-modeled" by the street and will drive above consensus revenue and earnings per share growth, expecting the shares to re-rate to a 10% market premium. Multiple TIRADE pharma assets, as well as synergies from Actelion (ALIOF), will drive above consensus Pharma revenues, producing strong earnings per share momentum and better than expected dividends, he added. Moreover, Holford argued that instead of commentators focusing on an unlikely break-up of the business, Johnson & Johnson should be appreciated for being an "EPS growth and dividend machine." ACCELERATION AHEAD: On Monday, Wells Fargo analyst Larry Biegelsen also upgraded Johnson & Johnson to Outperform from Market perform and raised his price target on the shares to $149 from $140. Citing the accretion from Actelion, more measured impact from biosimilar competition than expected, solid performance of key drugs and a pipeline that is coming to fruition, the analyst told investors that he believes the healthcare giant is poised to reaccelerate its top-line growth. Further, Biegelsen argued that the company could continue to deliver margin improvement and faster earnings per share growth, while noting that he sees several sources of potential earnings per share upside in 2018. Additionally, he pointed out that concerns over Zytiga patent risk may be overblown with generic competition unlikely until at least October 2018. SELL J&J: Back on September 20, however, Goldman Sachs' Rubin downgraded Johnson & Johnson to Sell, while increasing his price target to $130 from $125. The analyst argued that pressure on key products combined with still-slow Medical Devices & Diagnostics growth and continued strains on the consumer will leave the company with below average, long-term growth. Rubin added that he prefers names like AbbVie (ABBV), Bristol-Myers (BMY) and Eli Lilly (LLY) with more identifiable, needle moving catalysts. PRICE ACTION: In morning trading, shares of Johnson & Johnson have gained almost 2% to $136.25. Since September 20, the stock is up roughly 1%.
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DAL | Hot Stocks10:40 EDT Delta Air Lines says no plans right now to increase GOL investment - Says "unlikely" that pilot requirements will be lowered.
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DAL BDRBF | Hot Stocks10:34 EDT Delta on proposed Bombardier Cseries tariff: 'We will not pay those tariffs' - Commenting on proposed Bombardier (BDRBF) CSeries tariffs, Delta (DAL) says "We will not pay those tarrifs. We intend to take the aircraft."
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CASI | Hot Stocks10:29 EDT CASI Pharmaceuticals jumps after chairman buys shares - The chairman of CASI Pharmaceuticals, Wei-Wu He, disclosed in a filing on Tuesday evening that he had purchased 200,000 shares of company stock at an average price of $1.83 per share on October 5 and 6. The total transaction value was $366,000. Shares of CASI Pharmaceuticals are up 67% or $1.50 to $3.71 in morning trading.
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DAL | Hot Stocks10:23 EDT Delta Air Lines reiterates that 4% CASM growth 'not sustainable' - Reiterates that 4% CASM growth "not sustainable." Says capped capacity at 1% this year, pressuring costs, and believes returning to a normalized growth rate will benefit CASM. Anticipates rolling out Basic Economy to full network in 2018. Sees Q4 CapEx $1.5B.
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FAST | Hot Stocks10:20 EDT Fastenal says on track for 275-300 Onsite signings in 2017 - Says sales growth accelerated in Q3. Reports year-to-date sales growth at 10.1% Says investing in infrastructure but has continued to maintain operating expense leverage. Says operating cash flow at $162.6M was a record for any third quarter. Says signed 4,771 vending devices in Q3 and saw a lower rate of device removal. Says company feels good about top-line momentum entering Q4. Repurchased $25.9M in stock in Q3. Continues to expect capital spending at $127M for 2017. Comments taken from Q3 earnings conference call.
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DAL | Hot Stocks10:15 EDT Delta expects to exit 2017 with all regions in positive RASM territory
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DAL AFLYY | Hot Stocks10:13 EDT Delta: 4% nonfuel unit cost growth 'unsustainable,' sees sub-2% growth in 2018 - Delta (DAL) CEO Ed Bastian says headwinds in the quarter included multiple hurricanes and an earthquake. Says recovery from natural disasters aided by processes implemented following April storms. Says air travel "resilient." Says rebounded quickly from Hurricane Irma. Says closed its 10% investment in Air France (AFLYY) last week. Says recently made decision to align profit sharing plans. Says 2017 has been transition year on labor costs, says 4% nonfuel unit cost growth "unsustainable" and must return to sub-2% growth starting in 2018. Says in early innings of fleet transformation. Says July business yields slightly softer than expected, saw improvements in August, September and early October. Says looking to close the year with an operating margin close to 15%, mid-teens after-tax ROIC. Says 2017 shaping up to be "pretty successful transition year," third year in a row with pretax profit at or approaching $6B. Sees 2018 system capacity growth in 2%-3% range. Comments taken from the Q3 earnings conference call.
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CMCSA... | Hot Stocks10:01 EDT President Trump brings up challenging the licenses of news networks - President Donald Trump just tweeted, "With all of the Fake News coming out of NBC and the Networks, at what point is it appropriate to challenge their License? Bad for country!" The tweet followed an earlier one, which said, "Fake @NBCNews made up a story that I wanted a 'tenfold' increase in our U.S. nuclear arsenal. Pure fiction, made up to demean. NBC = CNN!" Comcast (CMCSA) owns NBC while Disney (DIS) owns ABC.
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AERI | Hot Stocks09:38 EDT Aerie jumps after FDA posts briefing documents ahead of Rhopressa meeting - The FDA has called a meeting of the Dermatologic and Ophthalmic Drugs Advisory Committee, to be held October 13, to discuss Aerie Pharmaceuticals' Rhopressa for the proposed indication of reduction of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension. As is its standard practice, the FDA has made background material available to the public two business days before the meeting. Following the posting of the briefing documents to the FDA website, Aerie shares are up 14% to $63.20 in early trading.
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LMOS | Hot Stocks09:25 EDT Lumos Networks signs multi-year enterprise contract with Memorial Health System - Lumos Networks signed a multi-year agreement with Memorial Health System. Under the terms of the agreement, Lumos Networks will provide advanced fiber connectivity, SIP trunks and Cloud Express services to 7 Memorial Health Systems locations in and around Marietta, Ohio.
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KR | Hot Stocks09:22 EDT Kroger to explore strategic alternatives for convenience store business - Kroger announced its intention to explore strategic alternatives for its convenience store business, including a potential sale. This is the result of a review of assets that are potentially of more value outside of the company than as part of Kroger. "Our convenience stores are strong, successful and growing with the potential to grow even more," said Schlotman. "We want to look at all options to ensure this part of the business is meeting its full potential. Considering the current premium multiples for convenience stores, we feel it is our obligation as a management team to undertake this review." Kroger's convenience store business includes 784 convenience stores located across 18 states. It includes 68 franchise operations. The stores employ 11,000 associates and operate under the following banner names: Turkey Hill Minit Markets, Loaf 'N Jug, KwikShop, Tom Thumb and QuickStop. Neither supermarket fuel centers nor Turkey Hill Dairy is included in this review. Kroger's convenience store business generated revenue of $1.4B and sold 1.2B gallons of fuel in 2016. The business unit has delivered 62 consecutive quarters of identical store sales growth.
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DAL... | Hot Stocks09:22 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Delta Air Lines (DAL), up 1.5%... BlackRock (BLK), up marginally. ALSO HIGHER: Kroger (KR), up 3.8% after reiterating its fiscal 2017 guidance... Sky Solar (SKYS), up 9.5% after being upgraded to Buy from Neutral at Roth Capital... Paypal (PYPL), up 1.4% after being upgraded to Overweight from Equal Weight at Morgan Stanley. DOWN AFTER EARNINGS: Fastenal (FAST), down 3%... VOXX (VOXX), down 9.3%... Barracuda Networks (CUDA), down 8.2%. ALSO LOWER: Micron (MU), down 2.3% after filing to sell $1B in common stock... General Electric (GE), down 1% after telling CNBC that maintaining its dividend is a "top priority."
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KR | Hot Stocks09:20 EDT Kroger: Restock Kroger plan seen generating $400M in incremental op margin - The Restock Kroger plan is expected to generate $400M in incremental operating margin by 2020. Kroger will also outline how it will prioritize its estimated $9B in capital investments to support Restock Kroger over the next three years. The company expects to generate more than $4B of free cash flow over the next three years - nearly double what was generated over the previous three years.
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COH TPR | Hot Stocks09:19 EDT Coach to change name to Tapestry - Coach (COH) announced that it will be changing its name to Tapestry (TPR) effective October 31. Victor Luis, CEO, said, "Three years ago we laid out our vision to transform Coach and announced our intention to grow beyond the Coach brand...Each of our brands has a unique proposition, fulfilling different fashion sensibilities and emotional needs within the very attractive and growing $80B global market for premium handbag and accessories, footwear and outerwear. At the same time, our brands are also built upon the shared values of optimism, inclusivity and innovation. We searched for a name to reflect these values while also expressing the cultural diversity of our people and our brands for today and tomorrow. In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform and values. As such, we believe that Tapestry can grow with our portfolio and with our current brands as they extend into new categories and markets. The name embodies our creative brand-led and consumer-focused business, while also representing the deep heritage of the group. Most importantly, we are establishing a strong and distinct corporate identity, which enables our brands to express their individual personalities and unique language to consumers." Coach will become Tapestry, Inc. on October 31. It is a New York-based house of modern luxury lifestyle brands. The company's portfolio includes Coach, kate spade new york and Stuart Weitzman. To learn more about Tapestry, please visit www.tapestry.com. The company's common stock is traded on the New York Stock Exchange under the symbol COH, which will change to TPR on October 31, 2017. The company's Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.
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KR | Hot Stocks09:18 EDT Kroger plans to invest incremental $500M in human capital over next three years - Kroger plans to invest an incremental $500M in human capital over the next three years. This will be in addition to the company's continued efforts to rebalance pay and benefits while also focusing on certifications and performance incentives, career opportunities and training.
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HLF | Hot Stocks09:12 EDT Herbalife announces final results of self-tender offer - Herbalife announced the final results of its "modified Dutch auction" tender offer, which expired at 5:00 P.M., New York City time, on Thursday, October 5 to purchase for cash up to an aggregate of $600M of the company's common shares at a per share price not less than $60.00 nor greater than $68.00, plus a non-transferable contractual contingent value right for each share tendered, allowing participants in the tender offer to receive a contingent cash payment should Herbalife be acquired in a going-private transaction within two years of the commencement of the tender offer. Based on the final count by Computershare Trust Company, N.A., the Depositary for the tender offer, a total of 6,732,300 common shares of the company were properly tendered and not properly withdrawn at or below the final cash purchase price of $68.00 per share. Accordingly, the company accepted for purchase 6,732,300 common shares of the Company at a cash purchase price of $68.00 plus a CVR per share, for a total cash cost of approximately $457.8M, excluding fees and expenses relating to the tender offer. These common shares represent approximately 7.2% of the company's total outstanding shares as of October 9.
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CTXR | Hot Stocks09:06 EDT Citius Pharmaceuticals issues letter to shareholders - Citius Pharmaceuticals mailed a letter to its shareholders with updates on recent developments, financial results, and new business opportunities. The letter highlights, among other things: the company's uplisting to Nasdaq stock exchange; positive FDA response for phase 3 trial amendments of proprietary product Mino-Lok; secured funding of over $26.8M million; the addition of South America to the company's worldwide license for Mino-Lok; completion of Phase 2a studies for Hydro-Lido, which could become the first FDA-approved product to address the estimated $500M U.S. hemorrhoid marketplace.
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MDXG | Hot Stocks09:06 EDT MiMedx reports publication of VLU clinical study in medical journal - MiMedx announced that the latest peer-reviewed clinical study of MiMedx dehydrated human amnion/chorion membrane allografts has been published in the International Wound Journal. Bill Taylor, President and COO, said, "With only about 30% of the commercial plans that cover EpiFix for Diabetic Foot Ulcers also covering EpiFix for VLUs, we expect this study will dramatically increase that ratio. We look forward to working with those commercial health plans to gain EpiFix coverage for VLUs. Conservatively, we expect our incremental annual revenue opportunity based on patients presenting with VLUs not currently covered by our commercial insurance to be between approximately $75M and $150M." The venous leg ulcers study results were previously communicated by the company in an earlier press release of August 31, MiMedx noted.
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DYNT | Hot Stocks09:05 EDT Dynatronics consolidates West Coast distribution activities - Dynatronics announced the consolidation of its Livermore distribution facility into its Cottonwood Heights, Utah location, which will become the company's primary distribution center for the western United States. Over the last several months Dynatronics has expanded its distribution capabilities at its headquarters facility in Utah. In association with this transition, Dynatronics will be transitioning all distribution functions to Utah from its facility in Livermore, CA. The lease on the Livermore facility will expire December 2017, with no penalty to the Company. With this simplified footprint, Dynatronics expects to provide the same level of service to Western states customers at a lower cost.
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VRTS | Hot Stocks09:04 EDT Virtus Investment reports preliminary AUM $90.57B as of September 30 - Virtus Investment reported preliminary long-term and total assets under management as of September 30 of $87.1B and $90.6B, including $3.4B of liquidity assets, respectively.
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AMBR | Hot Stocks09:04 EDT Amber Road selected by GEODIS to support trade compliance capabilities - Amber Road announced that GEODIS, part of SCNF Logistics, has chosen the Amber Road Export On-Demand solution to screen third-party trade partners to ensure compliance with global sanctions and embargo lists. Using the Restricted Party Screening module in Amber Road's Export On-Demand solution, GEODIS will be able to transform its screening processes, replacing numerous disparate and partial systems with a single system covering its worldwide operations. GEODIS chose the Amber Road solution in large part because it provides the most comprehensive, continually updated global coverage of more than 570 restricted party lists from government institutions worldwide. The Amber Road solution is being rolled-out in stages through the different lines of business, beginning with screening of priority transactions and partners, and expanding to include new entities. Within a few weeks of the implementation kick-off in January, key teams were already using the solution.
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BLK | Hot Stocks09:03 EDT BlackRock: Waiting to see how Brexit unfolds
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AMZN | Hot Stocks09:02 EDT Amazon introduces all-new Kindle Oasis featuring 7-inch, 300ppi display - Amazon announced its "most advanced Kindle e-reader ever-the all-new Kindle Oasis, featuring our largest, highest-resolution Paperwhite display yet and a thin and light ergonomic design so you can read more comfortably for hours. The all-new Kindle Oasis is the first waterproof Kindle allowing you to read in even more places, from the bath to the swimming pool. The all-new Kindle Oasis has a battery life measured in weeks, not hours-and it includes a fast-charging capability that allows it to go from no battery to fully charged in less than two hours. With Audible built in, you can listen to the world's largest library of audiobooks and easily switch between reading and listening to a professionally narrated performance on Bluetooth headphones or speakers. The all-new Kindle Oasis is available for pre-order today for only $249.99 and will start shipping October 31."
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ERII | Hot Stocks09:02 EDT Energy Recovery awarded $5.8M for desalination projects in Middle East - Energy Recovery received awards of $5.8M to supply its PXTM Pressure Exchanger technology for desalination projects in the Middle East. The orders are expected to ship in Q4.
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AMZN | Hot Stocks09:01 EDT Amazon launches way for teens to shop on their own, keeping parents informed - Amazon introduced a convenient way for teens 13 through 17 years old to shop on Amazon with their own login. For the first time, teens can independently use the Amazon App, allowing them to shop or stream content while still keeping their parents informed. Parents can approve all orders or set pre-approved spending limits per order - offering teens a customized level of autonomy that can change and grow as they do.
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FAST | Hot Stocks08:59 EDT Fastenal reports September net sales up 9.8% to $371.35M - Fastenal reports net sales grew 9.8% in September compared to last year to $371.35M. Daily sales of $18.57M were up 15.3%.
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BLK | Hot Stocks08:56 EDT BlackRock: Aladdin for wealth management has 'big future opportunity' - Says demand "significant."
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JNJ | Hot Stocks08:56 EDT J&J's Janssen submits NDA to FDA for Apalutamide for men with CRPC - Janssen Biotech announced that it has submitted a New Drug Application to the U.S. Food and Drug Administration for apalutamide, an investigational, next generation oral androgen receptor inhibitor for men with non-metastatic castration-resistant prostate cancer. Currently, there are no FDA approved treatments for patients with non-metastatic CRPC. This submission is based on Phase 3 data from the pivotal ARN-509-003, or SPARTAN, clinical trial, which assessed the safety and efficacy of apalutamide versus placebo, in men with non-metastatic CRPC who have a rapidly rising prostate specific antigen despite receiving continuous androgen deprivation therapy.1 Men with non-metastatic CRPC with a rapidly rising PSA are at high risk for developing metastatic disease. The primary endpoint of this study was metastasis free survival. MFS is the time from randomization to first evidence of confirmed metastasis, or time to death. The SPARTAN study results will be presented at a future medical meeting.
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BLK | Hot Stocks08:53 EDT BlackRock expects 'significant' growth opportunities for Aladdin
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DE | Hot Stocks08:52 EDT Deere reports September retail sales trends - Deere reported that U.S./Canada industrywide sales of 2WD tractors below 40 PTO hp were down 8% in September, while Deere sales in the category were up by a single digit. Industry sales of 2WD tractors between 40 and 100 PTO hp were down 7%, and Deere sales were down in line with the industry. Industry sales of 2WD tractors above 100 PTO hp were down 20%, and Deere sales in the category were down more than the industry. Industry sales of 4WD tractors were up 33%, while Deere sales in the category were up more than the industry. Industry sales of combines were up 4%, while Deere sales in the category were up in line with the industry. Information from presentation slides posted last night to Deere's investor website. Reference Link
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IMNP | Hot Stocks08:47 EDT Immune poster demonstrates activity of anti-eotaxin-1 antibodies in animal model - Immune Pharmaceuticals announced that the results of a study investigating the therapeutic effect of oral and parenteral administration of anti-eotaxin-1 antibodies in an animal model of immune-mediated hepatitis will be presented at The Liver Meeting 2017 - the 68th Annual Meeting of the American Association for the Study of Liver Diseases taking place October 20-24, 2017 in Washington, DC. Dr. Yaron Ilan, Professor of Medicine, and Director, Department of Medicine at Hebrew University's Hadassah Hospital in Jerusalem, Israel, and an Immune Pharmaceuticals collaborator, will present the data in a poster. The poster, entitled "Oral administration of anti-eotaxin-1 monoclonal antibody is biologically active in the gut and alleviates immune-mediated hepatitis: A novel personalized therapy for immune-associated liver diseases" will be presented Friday, October 20 between 12:00 and 1:30 PM ET at the "Autoimmune and Cholestatic Liver Disease" session. The study aimed to evaluate the biological activity and immunomodulatory effect of oral and parenteral administration of anti-eotaxin-1 antibodies in the concanavalin A mouse model of immune hepatitis. Anti-eotaxin-1 antibodies, administered two hours prior to the induction of hepatitis, lowered eotaxin-1 levels and prevented the development of hepatitis compared to controls.
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BLK | Hot Stocks08:44 EDT BlackRock: Fee-based advisory assets expected to double by 2020 - Says regulation changing the ecosystem of asset management.
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BLK | Hot Stocks08:42 EDT BlackRock: Market environment has improved 'considerably' over past year - Assuming no current year impact from potential future change in tax laws, BlackRock believes 31% remains reasonable projected tax run rate for Q4, though actual effective tax rate may differ. Says "very margin aware." Says the market environment has improved "considerably" over the past year, with greater political stability in Europe, consistent growth in Japan and continued economic strength in China. Say that while the world has become "much more resilient," large cash balances "remain on the sidelines." Comments taken from the Q3 earnings conference call.
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ANY | Hot Stocks08:37 EDT Sphere 3D announces favorable ruling, dismissal of lawsuit - Sphere 3D announced that the Commercial Division of the Supreme Court of the State of New York has granted to its wholly-owned subsidiary, Overland Storage, summary judgment on all claims brought against Overland by Special Situations Fund III QP, L.P., Special Situations Private Equity Fund, L.P., Special Situations Technology Fund, L.P., and Special Situations Technology Fund II, L.P. under a December 2010 litigation funding agreement. In December 2010, Special Situations Funds invested in a patent litigation brought by Overland through an agreement containing a change-of-control provision under which the Special Situations Funds would receive a $6M payout if Overland undertook a transaction falling within the provision before the patent litigation was resolved. In January 2014, Overland acquired Tandberg Data Holdings S.A.R.L. In May 2014, the Special Situations Funds sued Overland in the Commercial Division of the Supreme Court of the State of New York, claiming that they were entitled to a payout because Overland's acquisition of Tandberg allegedly fell within the change-of-control provision. Overland subsequently settled the patent litigation in a manner that triggered no payment to the Special Situations Funds. The Special Situations Funds then amended their complaint to claim alternatively that Overland had breached the implied covenant of good faith by settling the patent litigation in a manner designed to avoid a payment obligation to them. After the close of discovery, the parties filed cross-motions for summary judgment. On October 10, 2017, the Court entered an order granting Overland's motion for summary judgment and dismissing the Special Situations Funds' complaint in its entirety with prejudice.
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WCG | Hot Stocks08:35 EDT WellCare members' access to UNC Health Alliance expanded - WellCare announced that UNC Health Alliance's physician-led network of Health Care providers have entered into an agreement to join the health plan's provider network. Beginning in 2018, WellCare's Medicare Advantage members will have access to the UNC Health Alliance network of primary care providers and specialists; UNC hospitals; and nine affiliate hospitals and hospital systems across the state.
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WAAS | Hot Stocks08:33 EDT AquaVenture provides update on Caribbean operations - AquaVenture updated the situation of its Caribbean operations following Hurricanes Irma and Maria. CEO Doug Brown said: "(...) all of our plants are operating, except for one very small plant in the USVI, which is waiting for power from the local utility. In addition, all of the islands where we have operations are delivering clean water to their populations, a role we are actively contributing to. Our facilities incurred minimal damage from the hurricanes and, as a result, the expenditures related to the plant repairs are not anticipated to be material. As of today, our facilities in operation are filling tanks and producing water for delivery, meeting current demand and, in some cases, exceeding pre-hurricane production volumes".
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JMBA | Hot Stocks08:32 EDT Jamba announces hearing panel date, Nasdaq listing extension - Jamba announced the Nasdaq Stock Market granted the company's request for a hearing before the Nasdaq Hearings Panel. The hearing will take place on November 16, at which time the company will present its plan to regain compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission. Previously, Nasdaq granted the company an extension until September 18 to file all delinquent periodic reports. The company also announced that the Panel granted the company's request to extend the automatic 15-day stay of suspension from The Nasdaq Stock Market. The stay, which allows for the continued trading of the company's common stock on Nasdaq, will continue until a final determination regarding the company's listing status is issued after the November 16 hearing. The Company fully intends to continue to take all steps necessary to regain compliance with the Rule.
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TROW | Hot Stocks08:31 EDT T. Rowe Price reports preliminary AUM $948B at September 30 - Client transfers from mutual funds to other portfolios were $2.9B and $8.1B for the month- and quarter-ended September 30, respectively.
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GT | Hot Stocks08:31 EDT Goodyear Tire increases dividend on common stock 40% to 14c per share - Goodyear Tire has approved an increase in the company's quarterly common stock dividend to 14c per share from 10c, a 40% The dividend is payable December 1 to shareholders of record on November 1.
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ECL | Hot Stocks08:30 EDT Ecolab agrees to sell equipment care business to Audax, terms not disclosed - Ecolab announced it has agreed to sell its Equipment Care business to Audax Private Equity, a Boston, Mass.-based private equity firm. Equipment Care had 2016 sales of $180M. Completion of the transaction is subject to regulatory clearance and is expected to close in the fourth quarter. No further details were disclosed.
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MNGA | Hot Stocks08:22 EDT MagneGas signs $500,000 consulting agreement with European partner - MagneGas announced that the company has been engaged by its European partner to provide consulting services, focused on identifying and validating additional applications of the MagneGas technology in Europe. The initial value of the contract is approximately $500,000, with an option to increase the scope of the contract to $1M. The agreement also provides MagneGas access to testing facilities, which are already approved for a range of waste streams, to determine the economic value and technical feasibility of new gasification and sterilization solutions in Europe.
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ABEO | Hot Stocks08:21 EDT Abeona enrolls first two patients in ABO-102 Phase 1/2 clinical trial - Abeona Therapeutics announced that two patients were enrolled in the Company's ABO-102 Phase 1/2 clinical trial, at sites in Australia and the US. Both patients have been treated with the Company's Cohort 3 dose of ABO-102.
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JBLU | Hot Stocks08:08 EDT JetBlue: Q3 presented 'unprecedented weather challenges'
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BTX | Hot Stocks08:06 EDT BioTime announces treatment of first patient in Premvia U.S. clinical trial - BioTime reported that an investigator-led clinical trial has successfully treated its first patient in a study of Premvia as a carrier for stromal vascular fraction cells for the treatment of age-related volume loss in the face. This is the first clinical trial to study Premvia in a purely cosmetic application. Premvia which has 510 clearance in the U.S. for wound management, is expected to file for CE Mark in Europe under the name Renevia for the treatment of facial lipoatrophy in HIV patients later this year. The objective of this investigator-led study is to evaluate the safety and performance of Premvia as a carrier for autologous SVF in non-HIV patients. SVF cells are believed to contain fat tissue progenitors, and are prepared at the point of care from a lipoaspirate. This single-arm study is designed to evaluate 10 subjects who each receive a treatment of Premvia and SVF. The study's primary endpoint is mean change in volume of each side of the face from baseline six months post treatment, with secondary endpoints being hemi-facial volume change at one, two, three and 12 months from baseline. HIV-associated lipoatrophy is a severe form of lipoatrophy characterized by the pathological loss of body fat from under the skin. In an EU pivotal clinical trial, Renevia met its primary endpoint, and treated patients retained approximately 100% of transplanted volume at six months, based on 3-D volume measurement of the implanted area. In addition to meeting the primary endpoint, BioTime announced that treated patients retained an average 70% of the transplanted volume at 12 months and 64% at 18 months. While only a small number of patients have been observed through 18 months, the results thus far are encouraging and the long-term performance exceeded management expectations. All Renevia transplants were shown to be well tolerated and there were no device-related serious adverse events noted during this trial.
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MBVX | Hot Stocks08:04 EDT MabVax Therapeutics begins enrollment in Phase 1 trial for cancer treatment - MabVax Therapeutics initiated patient enrollment at a second site in a Phase 1 clinical trial evaluating a new radioimmunotherapy product for patients with locally advanced or metastatic adenocarcinoma of the pancreas or other CA19-9 positive malignancies including colon and lung cancers. MVT-1075 combines radiotherapy with the tumor targeting specificity of the HuMab-5B1 antibody. The company's objective is now to enroll additional patients and report interim results before the end of the year.
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SLNO | Hot Stocks08:04 EDT Soleno Therapeutics issued new U.S. patent for DCCR - Soleno Therapeutics announced the issuance of a new patent from the U.S. Patent and Trademark Office related to the use of pharmaceutical formulations of diazoxide to treat hyperphagia in a subject with Prader-Willi syndrome, or PWS. PWS is a rare and complex genetic neurobehavioral/metabolic disorder affecting appetite, growth, metabolism, cognitive function, and behavior.
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SGEN MRK | Hot Stocks08:04 EDT Seattle Genetics announces collaborations to evaluate SGN-LIV1A - Seattle Genetics (SGEN) announced two clinical collaboration agreements for the evaluation of SGN-LIV1A in patients with triple negative breast cancer. SGN-LIV1A is an investigational antibody-drug conjugate that targets the cell surface protein LIV-1, which is expressed on multiple solid tumors including breast, prostate, melanoma, ovarian, and cervical cancers. The ADC will be tested in combination with KEYTRUDA, an anti-PD-1 therapy marketed by Merck (MRK), in a phase 1b/2 clinical trial as first line treatment for locally advanced and metastatic TNBC. SGN-LIV1A in combination with standard chemotherapy will also be evaluated as neoadjuvant treatment in the phase 2 I-SPY 2 TRIAL for newly diagnosed Stage 2 or 3 human epidermal growth factor receptor 2 negative breast cancer, sponsored by Quantum Leap Health Care Collaborative. This cancer subgroup accounts for up to 85% of breast cancer and includes TNBC. SGN-LIV1A administered in combination with Merck's pembrolizumab will be evaluated in a phase 1b/2 clinical study in patients with locally advanced or metastatic TNBC. This single arm, open label multicenter study is anticipated to enroll up to 72 patients. Under the terms of the collaboration agreement with Merck, Seattle Genetics will hold the IND for the study and retain global development and commercialization rights to SGN-LIV1A. SGN-LIV1A followed by standard chemotherapy will be evaluated as a neoadjuvant treatment for women with newly diagnosed, locally advanced Stage 2 or 3 HER2-negative breast cancer in the I-SPY 2 TRIAL. This standing phase 2 randomized, controlled multicenter trial is anticipated to enroll up to 75 patients in the SGN-LIV1A treatment arm. With TNBC and other aggressive cancers in mind, the I-SPY 2 TRIAL was designed to rapidly screen promising experimental treatments and identify those most effective in specific patient subgroups based on molecular characteristics. The trial is a unique collaborative effort by a consortium that includes the Food and Drug Administration, industry, patient advocates, philanthropic sponsors and clinicians from 20 major U.S cancer research centers. Under the terms of the collaboration agreement, Quantum Leap is the trial sponsor and will manage the study operations. Seattle Genetics will retain global development and commercialization rights to SGN-LIV1A.
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LM | Hot Stocks08:03 EDT Legg Mason reports preliminary AUM $754.4B as of September 30 - This month's AUM included long-term outflows of $1.3B, consisting of net outflows in equity of $1.2B and fixed income of $0.3B, partially offset by alternative inflows of $0.2B. Fixed income outflows included a $3B low-fee mandate redemption.
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MBIO FBIO | Hot Stocks08:03 EDT Mustang Bio announces $12.8M grant to fund Phase 1 trial of MB-101 - Mustang Bio (MBIO), a Fortress Biotech (FBIO) company focused on the development of novel immunotherapies based on proprietary chimeric antigen receptor engineered T cell, or CAR T, technology, announced that research and development partner City of Hope has received a $12.8M grant from the California Institute for Regenerative Medicine to fund an ongoing Phase 1 study of Mustang's MB-101 for the treatment of patients with recurrent and refractory malignant glioma, including glioblastoma.
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JBLU | Hot Stocks08:03 EDT JetBlue sees Q4 revenue negatively impacted by hurricanes by $70M-$90M - For the fourth quarter of 2017 JetBlue projects the following financial and operating impact due to the hurricanes: Based on current booking trends, JetBlue anticipates revenue will be negatively impacted by approximately $70 to $90 million in the fourth quarter. Operating income is anticipated to be reduced by $50 to $70 million, or 10 to 13 cents per diluted share, expected to be evenly split between Hurricanes Irma and Maria. Capacity growth in the fourth quarter is expected to be approximately 3.0 percentage points lower than previously planned, due to reduced flying in the Caribbean. RASM growth is expected to be negatively impacted between (1.0) to (2.0) percentage points, with the impact due to ongoing recovery in demand from Hurricane Irma. JetBlue anticipates Florida markets, where demand was negatively impacted by Hurricane Irma, to return to normal by the middle of the fourth quarter. CASM ex-fuel growth is expected to be negatively impacted by approximately 2.5 percentage points due to reduced flying in the Caribbean.
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CNC | Hot Stocks08:02 EDT Centene comments on lowered 2018 Medicare Star quality rating - Centene commented on updated Medicare Star quality ratings for the 2018 rating year published by the Centers for Medicare and Medicaid Services. The 2018 rating year will affect quality bonus payments for Medicare Advantage plans in 2019. Health Net of California's Medicare Advantage plan will move to a 3.5 Star rating from a 4.0 Star rating for 2018. The effect of this Star rating change will lower Centene's parent Star rating for the 2018 rating year from 4.0 Stars to 3.5 Stars. The reduction in the Star rating for Health Net of California is the result of a 2015 program audit. Health Net of California's underlying rating reflects 4.0 Star performance; however, CMS lowered a single measure because of a penalty associated with a plan audit in 2015, which caused a decline in the overall score to 3.5 Stars. Improvements were insufficient to compensate for the lower BAPP measure. The penalty related to the 2015 program audit will not have a continuing impact on the Star ratings in future rating years. The company intends to appeal the application of the penalty.
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JBLU | Hot Stocks08:02 EDT JetBlue sees Q3 RASM up approximately 0.9% y/y - "Our thoughts are with all of those impacted by hurricanes in recent months," said Robin Hayes, President and CEO of JetBlue. "The third quarter presented unprecedented weather challenges for JetBlue, with two of the largest hurricanes in our history impacting our network. We remain committed to the rebuilding efforts, particularly in Puerto Rico. We are confident that the adjustments we are making to our network will minimize any ongoing financial impact in 2018." Third quarter revenue was negatively impacted by approximately $44 million. Operating income was reduced by approximately $30 to $35 million, or 6 to 7 cents per diluted share. Available seat miles was reduced approximately 2.7 percentage points by the hurricanes. For the third quarter, JetBlue now expects capacity to increase approximately 3.7%. Revenue per available seat mile was positively impacted by an approximate 0.3 percentage points by the hurricanes. Cost per available seat mile, excluding fuel is expected to be 2.75 percentage points higher than previously expected. JetBlue now expects third quarter CASM ex-fuel to increase between 2.75% and 3.25%, including an approximate 1.5 percentage point benefit from the favorable timing of expenses now expected in the fourth quarter. JetBlue expects fuel cost per gallon of $1.71 in the third quarter.
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NP | Hot Stocks08:01 EDT Neenah Paper to acquire Coldenhove for about $45M - Neenah Paper announced it had signed a definitive agreement to purchase all of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products. Coldenhove has annual sales of over $45M with EBITDA of approximately $6M. The company's advanced media is a critical component used in dye sublimation, a growing method of digital image transfer. The purchase price is expected to be approximately $45M, subject to final closing adjustments, and will be financed with available cash and short term borrowings. Closing is expected to occur on November 1, and is subject to customary conditions. "This acquisition adds to our technical products portfolio with products, technologies and a customer base that nicely complement our existing digital transfer business, further accelerating our participation in profitable growing markets," said John O'Donnell, CEO. "From a financial perspective, the investment provides an attractive return on capital, is immediately accretive, and will deliver mid-teen EBITDA margins in a growing market."
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JBLU | Hot Stocks08:01 EDT JetBlue reports preliminary September traffic down 4.4% y/y, capacity down 0.9% - JetBlue Airways reported its preliminary traffic results for September 2017. Traffic in September decreased 4.4% from September 2016, on a capacity decrease of 0.9%. Load factor for September 2017 was 80.2%, a decrease of 3.0 points from September 2016. JetBlue's preliminary completion factor was 90.7% and its on-time performance was 70.1% in September 2017.
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PAG | Hot Stocks07:54 EDT Penske Automotive increases dividend to 33c per share - Penske Automotive has approved an increase in the cash dividend to 33c per share for Q3. The dividend is payable on December 1 to shareholders of record on November 10.
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REXX | Hot Stocks07:53 EDT Rex Energy provides operations update - Rex Energy provided an update on its Butler Operated Area operations. The company has placed the two-well Frye pad into sales. The two wells were drilled to an average lateral length of approximately 6,300 feet and completed in an average of 42 stages. The two wells produced at an average 24-hour sales rate per well, assuming full ethane recovery, of 9.4 MMcfe/d, consisting of 4.1 MMcf/d of natural gas, 820 bbls/d of NGLs and 70 bbls/d of condensate. The two wells represent, on a per lateral foot basis, the highest rates the company has achieved to date in the Moraine East Area. The company has finished completing the four-well Wilson pad in the Legacy Butler Operated Area. The four wells were drilled to an average lateral length of approximately 9,300 feet and completed in an average of 51 stages. The four wells are expected to be placed into sales in November 2017. Following the completion of the Wilson pad, the company has begun completing the three-well Manuel pad in the Moraine East Area. The three wells were drilled to an average lateral length of approximately 6,750 feet. The company expects to finish completions of the Manuel pad and place the wells into sales in the fourth quarter of 2017. In addition, the company remains on schedule to place additional compression for the Moraine East Area into service in January 2018. Given the strong production results and consistent operational performance during the quarter, the company expects its third quarter 2017 production to be near the high end of the previously announced third quarter production guidance of 171.0 - 181.0 MMcfe per day.
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MBRX | Hot Stocks07:52 EDT Moleculin announces strategic collaboration to develop immune stimulation drug - Moleculin Biotech announced that it has entered into an agreement to collaborate with the University of Bergen to expand research on inhibition of brain metastasis by Moleculin's pre-clinical drug WP1066 and its unique ability to increase immune system response to cancer and suppression of tumor cell proliferation and survival. The company previously announced that Moleculin is working with MD Anderson in their effort to move forward with a physician sponsored IND application to study WP1066 in patients with glioblastoma and melanoma that has metastasized to the brain. That IND has been on hold pending responses to requests from the FDA. If the FDA allows the IND to proceed based on the responses provided, Moleculin anticipates this clinical trial could be ready to begin by the end of this year.
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JEC | Hot Stocks07:50 EDT Jacobs, Paqell sign THIOPAQ O&G sulfur recovery technology licensor agreement - Jacobs Engineering Group signed a sulfur recovery technology licensor agreement with Paqell, a joint venture between Shell Global Solutions and Paques, for use of its THIOPAQ O&G technology in refineries and gas treating facilities across the globe. This agreement positions Jacobs as the only gas treating and sulfur recovery licensing company to license THIOPAQ O&G to low capacity sulfur facility owners, providing a reduced capital expenditure operational expenditure option, which eliminates the chemical waste produced by alternative technologies. THIOPAQ O&G is a biological process which integrates gas purification with sulfur recovery in a single unit, resulting in high sulfur recovery levels at reduced installation and operating costs. This process involves sulfur components, such as mercaptans and hydrogen sulfides, being removed from a gas stream and converting them into biologically formed sulfur. Expanding Jacobs' Comprimo Sulfur Solutions technology portfolio, this biological process is becoming increasingly important to the industry as it looks for ways to reduce chemical waste which pose both environmental and safety hazards.
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USAU | Hot Stocks07:49 EDT U.S. Gold plans additional autumn drill program on Keystone Project, Nevada - U.S. Gold announced a planned drilling program to be conducted on the Keystone and Gold Bar North projects. This program will be comprised of nine to ten holes, approximately a total of 15,000 feet, and will be conducted under four separate BLM-approved Notices of Intent. U.S. Gold continues to move forward with a project-wide Environmental Assessment for an expanded 2018 drilling program. U.S. Gold controls 100% of the Keystone District. The company reports that quality, large gold deposit target opportunities are demonstrably emerging throughout the district, especially in areas where previous drilling has been very sparse to nonexistent. The fall drilling program, in general, provides the first drill hole tests of several identified target opportunities indicated from recently obtained detailed gravity data in combination with stream sediment, altered cobble, soil samples, and detailed geological mapping.
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CPRT | Hot Stocks07:34 EDT Copart expands Reno, Nevada location - Copart recently expanded its Reno, Nevada location. The location holds online vehicle auctions.
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MOH... | Hot Stocks07:32 EDT Molina Healthcare names former Hanover Insurance exec as CEO - Shares of Molina Healthcare (MOH) are lower in premarket trading after the company, which offers Medicaid-related solutions for low-income families and individuals, named Joseph Zubretsky as its new chief executive officer. CEO APPOINTMENT: Molina Healthcare on Tuesday afternoon announced that Joseph Zubretsky will become the insurer's next president and CEO, effective November 6. Zubretsky most recently served as president and CEO of The Hanover Insurance Group (THG) and previously served nearly nine years at Aetna (AET) as the CEO of Healthagen Holdings. Commenting on the executive appointment, Molina Chairman Dale Wolf said "Joe is the right CEO to lead Molina during this transformative period. He has a track record of strong leadership across multiple businesses, both inside and outside managed care, and has first-hand experience in leading restructuring efforts at previous organizations. We are confident that, under Joe's leadership, Molina is well-positioned to realize the benefits of our transformation, build on the company's strengths, drive operational excellence, and increase shareholder value." WHAT'S NOTABLE: Zubretsky replaces chief financial officer Joseph White, who was named interim CEO in May after the company fired CEO J. Mario Molina and CFO John Molina. After reporting extremely weak second quarter earnings in August, White said the company was taking "aggressive steps" to improve its financial performance going forward. In light of the "disappointing" Q2 results, White announced that Molina was implementing a companywide restructuring plan that includes the exist of the Utah and Wisconsin ACA marketplaces and the reduction of 1,500 jobs. Molina is also reducing its presence in the Washington marketplace in 2018, it said, adding that in the remaining marketplaces, it will raise premiums by 55%. The plan is expected to reduce annualized run-rate expenses by between $300M-$400M by late 2018. "We continue to closely monitor the current political and programmatic developments pertaining to our 2018 participation in other Marketplace states, and subject to those developments, will withdraw from 2018 participation as may be necessary," Molina said at the time. OTHERS TO WATCH: Publicly traded companies in the insurance space include Aetna, Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), UnitedHealth (UNH) and WellCare (WCG). PRICE ACTION: In premarket trading, Molina Healthcare is down about 2% to $64 per share.
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GST | Hot Stocks07:32 EDT Gastar Exploration lowers Q3 and FY17 production views - Gastar Exploration lowered its Q3 production guidance to 6,100-6,300 Boe/d from prior guidance of 6,300-6,800 Boe/d, and FY17 production to 6,000-6,400 Boe/d from prior guidance of 6,200-6,800 Boe/d, with no change in liquids percentage guidance for either period. The change in production guidance is the result of operational challenges that Gastar believes have been resolved.
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AKAM | Hot Stocks07:31 EDT Akamai to acquire Nominum in all-cash transaction - Akamai announced the company has entered into an agreement to acquire Nominum, a market leader in DNS and enterprise security solutions for carriers. The acquisition is intended to add complementary capabilities to Akamai's portfolio of security offerings while expanding Akamai's distribution to carriers that serve enterprise customers. The all-cash transaction is expected to close later this quarter. Nominum is a privately-funded company headquartered in Redwood City, CA. Akamai expects the acquisition to be dilutive to non-GAAP earnings in the fiscal fourth quarter and 2018 due to integration costs and the impact purchase accounting has on revenue recognition. The dilutive impact in the fiscal fourth quarter of 2017 is expected to be approximately $0.05, and approximately $0.11 for fiscal 2018. Akamai expects the acquisition to be accretive in 2019. Akamai reiterates its intention to manage the Company's EBITDA margins within its previously stated range of mid-30s while it integrates Nominum.
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GILD | Hot Stocks07:12 EDT Gilead treatment of pediatric ulcerative colitis granted FDA orphan status - Gilead's filgotinib maleate was granted FDA orphan status as a treatment of pediatric ulcerative colitis, according to a post to the agency's website. Reference Link
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UIS | Hot Stocks07:11 EDT Unisys selected by Spain's ENAIRE for corporate applications development - Unisys announced a new contract with ENAIRE, the national air navigation service provider of Spain, to provide a package of services, including corporate applications development and employee mobile enablement. Unisys will develop and maintain all corporate applications and managing service delivery to Android and iOS mobile users for connectivity to key applications and data via mobile phone or tablet. Additionally, Unisys will help ENAIRE with new development projects.
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AKTX | Hot Stocks07:09 EDT Akari Therapeutics completes enrollment in COBALT Phase II PNH trial of Coversin - Akari Therapeutics announces that three additional patients have been enrolled in the ongoing Phase II COBALT clinical trial of Coversin in patients with paroxysmal nocturnal hemoglobinuria, or PNH. COBALT, the Phase II 90-day, open label single arm clinical trial, has enrolled a total of eight patients, four of whom have completed the trial and were reported on at the European Hematology Association conference in June 2017. These four patients have all moved into Akari's long-term safety study, CONSERVE. One of the initial five patients enrolled in the COBALT trial, with a suspected co-morbidity unrelated to the treatment, was withdrawn from the study on day 43. Three new patients were enrolled pursuant to an amended protocol based on a revised dosing regimen which included changing the maintenance phase from a single dose of 30mg every 24 hours to a single dose of 45mg every 24 hours. The three newly enrolled patients on the revised dosing regimen have now completed approximately 8, 3 and 2 weeks, respectively. The primary endpoint in this clinical trial is reduction in serum LDH, or lactate dehydrogenase; an indication of hemolysis, to less than or equal to 1.8 times the ULN, or upper limit of normal, for the investigator's reference laboratory or 500 I U/L, whichever is the lower from day 1 to day 28. The first of the three patients had a LDH value of 1.5 times the ULN at day 28. The other two patients have not yet reached the primary endpoint measurement date. To date, there have been no drug-related serious adverse events. The data reported is taken from the current electronic case report forms. Akari plans to provide an update on all PNH patients currently enrolled at the American Society of Hematology Annual Meeting to be held December 9-12, 2017. Akari plans to advance Coversin towards Phase III clinical trials beginning with CAPSTONE in Q1 2018, a Phase III clinical trial of Coversin in naive PNH patients.
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DAL | Hot Stocks07:06 EDT Delta Air Lines CEO sees 'good momentum' after 'busiest summer travel season' - "While we faced a number of challenges this quarter, including multiple hurricanes and an earthquake in Mexico, I am proud of how Delta people responded and still delivered an outstanding performance this quarter. Having just completed the busiest summer travel season in our history, we have good momentum, a determined team and a solid pipeline of initiatives to grow earnings and margins," said CEO Ed Bastian. Delta reports Q3 passenger revenue increased $328M, including $160M from Delta's Branded Fares initiatives. Passenger unit revenues increased 1.9% on 1.6% higher capacity. Cargo revenue increased 11.5%, driven by higher volumes in freight and mail. Other revenue increased 18.4% primarily due to higher loyalty revenue and third-party refinery sales.
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CUB | Hot Stocks07:05 EDT Cubic awarded four additional orders by U.S. Navy for $22M - Cubic's Global Defense business division has received four additional delivery orders totaling $22M from an Indefinite Delivery/Indefinite Quantity contract to support the U.S. Navy's Littoral Combat Ship with the creation and delivery of immersive game-based courseware.
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BTX | Hot Stocks07:04 EDT BioTime, Processa to enter into HyStem sublicense for drug delivery - BioTime reached agreement on terms to sublicense certain HyStem rights to Processa Pharmaceuticals for the creation of a sustained-release delivery platform. HyStem is BioTime's cell and drug delivery platform. HyStem technology includes a family of unique, biocompatible hydrogels designed to effectively deliver cells or bioactive compositions for therapeutic benefit. HyStem was designed to enable the effective transfer, engraftment and metabolic support for cells and is the basis of BioTime's Renevia program. The flexible chemistry of the HyStem also allows for hydrogel optimization in the delivery of drugs and therapeutics. BioTime is actively pursuing local delivery aspects of this platform technology.
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TTNP | Hot Stocks07:03 EDT Titan Pharmaceuticals: First patient treated in ropinirole implant trial - Titan Pharmaceuticals announced that the first patient has been treated in a Phase 1/2 trial of the company's ropinirole implant intended for the treatment of the signs and symptoms of idiopathic Parkinson's disease. This study is being conducted at three clinical research sites in the U.S. that specialize in the treatment of Parkinson's disease. The trial is an open-label, sequential, dose escalation study that will enroll approximately 20 subjects with idiopathic Parkinson's disease. The primary objectives are to characterize the pharmacokinetic profile of the ropinirole implants, to evaluate their safety and tolerability, and to explore potential signals of efficacy using established disease-specific assessment scales. Patients on a stable dose of L-dopa plus oral ropinirole will have their oral ropinirole switched to ropinirole implants for three months of treatment. Initial data from the first cohort of patients is expected in the first quarter of 2018 and the study completion is targeted for the end of next year.
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QUIK | Hot Stocks07:03 EDT QuickLogic partners with AcconSys in China - QuickLogic announced it has signed an agreement with AcconSys, an EDA tool and semiconductor intellectual property distributor in China. AcconSys will provide sales and support for QuickLogic's ArcticPro eFPGA solutions.AcconSys has a significant presence throughout the country's largest metropolitan regions, and has a proven track record in sales and strong relationships with tier-one customers. The company's application engineering teams have extensive experience in SoC, system design and integrated electronic systems.
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CXRX | Hot Stocks07:02 EDT Concordia part of investigation by the U.K. Competition and Markets Authority - Concordia announced that the UK Competition and Markets Authority is investigating new issues in relation to the UK pharmaceutical sector, and that Concordia's International segment and certain of its products are part of the inquiry. The investigation is at an early, information-gathering stage and the CMA has confirmed that, at this time, it has not reached any conclusions on whether competition law has been infringed. The CMA's investigation includes matters that pre-date Concordia's ownership of the International segment. Concordia acquired the International segment as a result of its transaction to purchase Amdipharm Mercury Limited, which closed on October 21, 2015.
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ANTM | Hot Stocks07:02 EDT Anthem Medicare plans to achieve significant 2018 Medicare Star Ratings - Anthem announced that its Medicare Advantage health plan affiliates have improved their Medicare Star Ratings. The Centers for Medicare and Medicaid Services released their latest Star Ratings, which give health plans scores for the quality and performance of their services. Heading into 2018, more than 60% of the Medicare Advantage members in Anthem's affiliated health plans will be enrolled in plans that achieved four stars or better, with five stars being the best rating. The Star Ratings provide further confirmation that Anthem's multi-year focus on improving the quality of its Medicare offerings is delivering real benefits for members. Additionally, the company aims to further improve the Stars performance of its health plans moving into 2019. This announcement is a significant achievement, as the ratings represent the highest percentage garnered by the company and its health plan affiliates since the start of CMS' Medicare Star Ratings program. According to the 2016 Star Ratings, only 22% of members were enrolled in four-star or better plans.
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BLK | Hot Stocks06:57 EDT BlackRock CEO: Overseas strength is attracting investors - Says defined contribution money overweighted in bonds. Says active management will continue its outperformance. Says global economy performing better than expected. Larry Fink is speaking on CNBC.
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R | Hot Stocks06:56 EDT Ryder acquires Dallas Service Center - Ryder has completed the acquisition of all outstanding equity of Dallas Service Center, an independent truck repair facility located in Dallas, Texas. The acquisition is expected to be nominally accretive to earnings in 2017. Ryder anticipates additional earnings in future years due to synergies. Ryder intends to retain the existing workforce of approximately 50 employees.
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CRK | Hot Stocks06:53 EDT Comstock Resources expands Haynesville joint development venture - Comstock Resources has expanded its joint development venture with USG Properties Haynesville. Initially, the joint development program focused primarily in Caddo Parish, Louisiana where USG had acquired 6,821 net acres targeting the Hayneville shale, allowing Comstock and USG to drill 34 extended lateral wells. Completion operations on these wells will commence in November. Comstock has the right to participate for a 25% working interest in the wells drilled on USG's acreage, and may increase this working interest participation in future wells. USG will also participate in four wells being drilled targeting the Bossier formation in the company's acreage in Sabine Parish, Louisiana. USG will pay Comstock for the right to participate for 50% of Comstock's working interest in each of the four wells. Comstock has earned a lease on an additional 640 acres adjacent to its Toledo Bend field, was granted a reduction in the royalty on these wells from 25% to 18.75%, and was assigned an additional 12.5% working interest in the wells. Comstock has approximately 4,000 net acres in its Waskom field in Harrison County, Texas and is pursuing additional add-on acreage to allow the drilling of extended lateral wells. Comstock will be paid a current value for each location for acreage and infrastructure related to the well location. The financial arrangements provide for an additional performance payment to the company for each well that meets or exceeds the company's production target.
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FAST | Hot Stocks06:51 EDT Fastenal says increased headcount by 378 during past year - "During the last twelve months, we have increased our headcount by 201 people in our in-market units and 378 people in total. Our total headcount includes 123 people related to our Mansco acquisition. The remaining increase is mostly a function of additions we have made to support customer growth in the field as well as investments in our growth drivers. We opened 5 branches and closed 36 branches in the third quarter of 2017. Additionally, two branches were converted from a public branch to a non-public location. Our branch network forms the foundation of our business strategy, and we will continue to open or close branches in 2017 as is deemed necessary to sustain and improve our network and support our growth drivers."
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EARS | Hot Stocks06:48 EDT Auris Medical announces share repurchase agreements with Lincoln Park Capital - Auris Medical announced the execution of two share purchase agreements for up to $15M with Lincoln Park Capital Fund, a Chicago-based institutional investor. Pursuant to a purchase agreement dated October 10, Auris Medical may require LPC, from time to time and at its sole discretion, to subscribe for up to $13.5M worth of its common shares. Per the terms of this share purchase agreement and related registration rights agreement, Auris Medical has agreed to file with the SEC a registration statement covering the common shares that may be issued to LPC under the purchase agreement. Share subscriptions pursuant to the purchase agreement may take place over the 30-month period after the registration statement is declared effective by the SEC. Auris Medical will control the timing of any future investment by LPC under this purchase agreement. The subscription price of the common shares will be based on the prevailing market prices of the Company's shares at the time of each issuance to LPC. In addition, on October 10, Auris Medical entered into a separate purchase agreement with LPC pursuant to which LPC subscribed for $1.5M worth of Auris Medical's common shares. The investment was made pursuant to Auris Medical's effective shelf registration statement.
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LODE | Hot Stocks06:47 EDT Comstock Mining reduces debt by $1M through non-core assets sale - Comstock Mining has reduced long-term debt by almost $1M with proceeds from the sale of 53 acre-feet of water rights, and the sale of various, smaller non-mining properties in Gold Hill and Silver City, Nevada and its recently announced joint venture with Tonogold Resources. The most valuable of the remaining properties is the company's 98-acre Comstock Industrial Site located adjacent to the Silver Springs Airport. The company's Senior Secured Debenture has now been reduced to $9.9M. The company still has plans to sell non-mining assets valued at approximately $14M targeted to eliminate the remainder of its debt. The company also had approximately $2.3M in cash at September 30.
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BLK | Hot Stocks06:41 EDT BlackRock CEO: Seeing surge of interest in emerging markets, Asia - Says U.S. stock market deserves a premium to others. Says demand for long term assets is "unprecedented." Says rally will continue if earnings justify it. Larry Fink is speaking on CNBC.
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BLK | Hot Stocks06:34 EDT BlackRock CEO: Seeing more clients looking to put money to work - Says biggest problem is money sitting on the sidelines. Says seeing growth in every product area. Larry Fink is speaking on CNBC.
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CIE | Hot Stocks06:32 EDT Cobalt receives listing standard non compliance notice from NYSE - Cobalt was notified by The NYSE that Cobalt is no longer in compliance with the continued listing standards of the NYSE Listed Company Manual. Cobalt's average market capitalization for the prior 30 trading-day period is below $50M and its stockholders' equity is less than $50M, which are the NYSE minimum requirements. Cobalt intends to notify the NYSE of its intent to submit a business plan to the NYSE within 45 days from its receipt of the NYSE notice to cure this deficiency and return to compliance with NYSE continued listing requirements.
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GSV | Hot Stocks06:31 EDT Gold Standard Ventures approved for listing on Toronto Stock Exchange - Gold Standard Ventures is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange and will commence trading on the TSX at the opening of market on October 11. Concurrent with the TSX listing, the Common Shares will be de-listed from the TSX Venture Exchange. The trading symbol of the Common Shares will continue to be "GSV".
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SPX | Hot Stocks06:30 EDT Trump: Stock market has increased by $5.2T since election, a 25% increase - President Trump tweeted, "Stock Market has increased by 5.2 Trillion dollars since the election on November 8th, a 25% increase. Lowest unemployment in 16 years and if Congress gives us the massive tax cuts (and reform) I am asking for, those numbers will grow by leaps and bounds." Reference Link
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SPX | Hot Stocks06:26 EDT Trump: Stock market has increased by $5.2T since election, a 25% increase - President Trump tweeted, "Stock Market has increased by 5.2 Trillion dollars since the election on November 8th, a 25% increase. Lowest unemployment in 16 years." Reference Link
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BLK | Hot Stocks06:17 EDT BlackRock reports Q3 net inflows $42.3B - Long-term net inflows were positive across all major regions, with net inflows of $42.3B, $23.6B and $9.9B from clients in the Americas, EMEA and Asia-Pacific, respectively. At September 30, BlackRock managed 64% of its long-term AUM for clients in the Americas, 28% for clients in EMEA and 8% for clients in Asia-Pacific.
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BLK | Hot Stocks06:16 EDT BlackRock reports Q3 AUM $5.97T, up 17% y/y, up 5% sequentially
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ROKU | Hot Stocks06:13 EDT Roku launches Roku Express streaming player in France - Roku announced that it will launch its popular Roku Express streaming player in France. Roku Express is the most affordable streaming player Roku ever launched in France, priced at just EUR34.99 MSRP. It comes with everything in the box to get started, including a simple-to-use remote control and HDMI cable. This is the second-generation of the Roku Express and is five times more powerful than its predecessor.
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ATHX NINOY | Hot Stocks06:03 EDT Athersys partnering with Nikon CeLL for MultiStem manufacturing in Japan - Athersys (ATHX) has entered into a manufacturing services agreement with Nikon CeLL innovation for commercial production of its stem cell therapy, MultiStem, in Japan for ischemic stroke. NCLi is a wholly-owned subsidiary of Nikon (NINOY) and provides a range of process development and manufacturing services, from pre-clinical to commercial manufacturing of cell and gene therapies. Athersys and NCLi will engage in technology transfer activities at NCLi's facility in Japan, and NCLi will begin contract manufacturing support for commercial development of the product in Japan.
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DPW | Hot Stocks06:02 EDT Digital Power names William Horne as CFO, effective October 6 - Digital Power issued an investor update stating that effective October 6, William Horne, a member of the Board of Directors, has been appointed CFO for the company. Horne will remain a member of the Board of Directors and replaces Amos Kohn who served as interim CFO.
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MNKD | Hot Stocks05:56 EDT MannKind sees Q3 net Afrezza product revenue $1.8M-$2.2M - For the three months ended September 30, MannKind expects to report $2.6M-$3.0M of gross Afrezza product revenue and $1.8M-$2.2M of net Afrezza product revenue. MannKind estimates that as of September 30, its cash and cash equivalents were approximately $20.2M. MannKind estimates that as of September 30, the principal balance outstanding for its 9.75% Senior Convertible Notes due 2019 and 8.75% Senior Convertible Notes due 2019 issued under its facility agreement with Deerfield was $60M; its 5.75% Convertible Senior Subordinated Exchange Notes Due 2018 was $27.7M; and its borrowings under the loan arrangement with The Mann Group was $79.7M. MannKind estimates that the annual purchase requirements under the insulin supply agreement with Amphastar as of September 30 were unchanged from June 30, except for the impact of foreign currency translation. MannKind said it has not yet purchased the annual minimum required quantities of insulin for 2017 of EUR 2.7M.
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DISCA AAPL | Hot Stocks05:38 EDT Discovery cardmembers can now redeem Cashback Bonus rewards with Apple Pay - Discover (DISCA) announced that cardmembers now can redeem Cashback Bonus for a statement credit through Apple Pay (AAPL). Apple Pay is the easy, secure and private way to pay and Discover is the first major credit card issuer to offer the ability to redeem rewards after a purchase through Apple Pay.
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XNY | Hot Stocks05:35 EDT China Xiniya Fashion receives notice of noncompliance from NYSE - China Xiniya Fashion announced that, on September 11, the company received notification from NYSE Regulation of being below the continued listing standards of the New York Stock Exchange. The company is considered below criteria established by the NYSE because the company's average market capitalization has been less than $50M over a consecutive 30 trading-day period and its last reported shareholders' equity was less than $50M. In accordance with NYSE procedures, the company has 90 days from the receipt of the notice to submit a plan to the NYSE demonstrating how it intends to regain compliance with the NYSE's continued listing standards within 18 months. The company intends to develop and submit such a business plan within the required time frame. The NYSE staff will then evaluate the plan to determine whether the company has made a reasonable demonstration of an ability to come into conformity with the listing standard within 18 months. In the event the NYSE accepts the plan, the company will be subject to quarterly monitoring for compliance with the plan and the company's ADSs will continue to trade on the NYSE during the plan period, subject to the company's compliance with other NYSE continued listing requirements. In the event the NYSE does not accept the plan, the company will be subject to suspension by the NYSE and delisting procedures. In the event the company is delisted, the stock may continue to be traded in the Over-The-Counter market. The company's business operations, its SEC reporting requirements, and all other contractual obligations, including sales and procurement contracts, are unaffected by the notice from NYSE.
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ALPMY | Hot Stocks05:31 EDT Astellas Pharma granted granted Fast Track designation by FDA for gilteritinib - Astellas Pharma announced today that the FDA has granted Fast Track designation for the development of gilteritinib for adult patients with FLT3 mutation-positive, or FLT3+, relapsed or refractory acute myeloid leukemia, or AML. Fast Track designation is designed to facilitate the development, and expedite the FDA review, of drugs to treat serious and life-threatening conditions so that, if approved, the compounds can reach the market expeditiously.
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ASX | Hot Stocks05:29 EDT Advanced Semiconductor reports Sept. revenue up 4.6% to $905M - Reports September ATM net revenue up 0.9% to $465M.
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ALV | Hot Stocks05:27 EDT Autoliv enters autonomous vehicle systems collaboration with MIT AgeLab - Autoliv signs research agreement with the Massachusetts Institute of Technology, or MIT, AgeLab. The two-year long research collaboration aims to develop a semi-autonomous vehicle prototype that demonstrates the future of human-centered artificial intelligence in the automotive space. The mission of this research collaboration is to provide for the development of artificial intelligence systems that understand and manage the state of the driver to create a safe and enjoyable experience in semi-autonomous vehicles. At the core of the research effort, is the development and real world evaluation of deep learning algorithms that enable effective communication and transfer of control between human and machine. This includes sensing driver gaze, emotion, cognitive load, drowsiness, hand position, posture, and fusing this information with the perception of the driving environment to create safe, reliable vehicles that drivers can learn to trust.
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ALGT | Hot Stocks05:25 EDT Allegiant raises Q3 TRASM guidance to up 0.3%-0.7% from down 0.5% to up 1.5% - Narrows Q2 CASM guidance to 16.7%-17.1% from 16%-18%.
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ALGT | Hot Stocks05:23 EDT Allegiant Travel sees 1Q18 Total System departures up 8%-12%, ASMs up 10%-14% - Sees Q1 of 2018 Scheduled Service departures up 8%-12%, ASMs up 10%-14%.
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ALGT | Hot Stocks05:22 EDT Allegiant Travel sees Q4 Total System departures up 7%-11%, ASMs up 9%-13% - Sees Q4 Scheduled Service departures up 7%-11%, ASMs up 9%-13%.
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ALGT | Hot Stocks05:20 EDT Allegiant Travel sees Oct. Schedule departures up 14%, ASMs up 15%
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ALGT | Hot Stocks05:20 EDT Allegiant Travel reports Sept. Scheduled Service passenger traffic down 10.3% - Reports September Scheduled Service RPM down 9.5%, ASM down 5%, and load factor down 3.9 percentage points to 78.9%. Reports September Total System passenger traffic down 9.1%, RPM down 8.4%, ASM down 2.6%, and load factor down 4.7 percentage points to 75.2%.
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BABA | Hot Stocks05:15 EDT Alibaba to invest over $15B in R&D over next 3 years - Alibaba announced the launch of an innovative global research program, "Alibaba DAMO Academy," which is designed to increase technological collaboration worldwide, advance the development of cutting-edge technology and strive to make the world more inclusive by narrowing the technology gap. With the setup of the Academy, the company expects to invest more than $15B in research and development over the next three years. The Academy, which stands for the "Academy for Discovery, Adventure, Momentum and Outlook," will oversee the opening of research and development labs worldwide and seek to recruit talented scientists and researchers to join the program. Alibaba Group's Chief Technology Officer, Jeff ZHANG will be the head of the Academy. In the beginning, the Academy will focus on the opening of seven research labs in China, the United States, Russia, Israel, and Singapore. The labs will focus on both foundational and disruptive technology research including data intelligence, Internet of Things, fintech, quantum computing and human-machine interaction. Within those broad research areas, the labs will focus on topics such as machine learning, network security, visual computing, Natural Language Processing, etc. In addition, the Academy is currently looking to recruit 100 talented researchers from around the world. The labs will also collaborate with luminaries in the technology space and top educational institutions to explore technology breakthroughs aimed at improving the lives of technology end-users and boosting the efficiency and security of enterprises globally. For example, the Academy will cooperate with the University of California, Berkeley through its RISE Lab on areas such as secured real-time computing. The Academy will set up an advisory board of globally renowned educators and researchers who will provide guidance and advice on the research direction and key research areas of the labs.
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ENOC | Hot Stocks05:13 EDT EnerNOC awarded 50 MW demand response contract in Australia - EnerNOC announced that it has been awarded a three-year demand response contract with the Australian Renewable Energy Agency, or ARENA, and the NSW Government. Under the terms of the contract, EnerNOC will develop and operate a 50 MW demand response, or DR, resource to support system reliability in the National Electricity Market, or NEM. The dispatchable DR resource will utilise aggregated load curtailment from commercial and industrial energy users across New South Wales and Victoria to respond within 10 minutes when dispatched by the Australian Energy Market Operator, or AEMO. This new DR resource will be available for dispatch December 2017, thus ensuring it will enhance system reliability during the peak summer months.
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