Stockwinners Market Radar for October 23, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
OIBR | Hot Stocks19:08 EDT Oi: Court postpones general meeting of creditors - Oi announced that, at the request of the Judicial Administrator and in compliance with the timing set forth in Article 36 of Law No. 11,101/2005, the 7th Corporate Court of the Judicial District of the Capital of Rio de Janeiro, before which the Judicial Reorganization is pending, postponed the General Meeting of Creditors, which was scheduled to be held on November 6, 2017, for the first call, to November 10, 2017. The second call of the AGC remains scheduled to be held on November 27, 2017.
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HAS | Hot Stocks18:24 EDT Hasbro CEO: Had a very strong quarter - Expects to make a revised plan with Toys "R" Us. Says if Toys "R" Us bankruptcy happened earlier in the year, could have come up with a plan for the holidays. Says still partnering with Toys "R" Us. Says excited about new Star Wars film and potential for toy sales in 2018. Brian Goldner is speaking on CNBC.
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LGF.A... | Hot Stocks18:07 EDT Lionsgate names Rohit Jain to head new office in Mumbai, India - Lionsgate (LGF.A, LGF.B) has named leading media executive and entrepreneur Rohit Jain, a 20-year veteran of the Indian media industry, to head its new office in Mumbai, India. Jain has served for the past seven years as Deputy CEO of Videocon d2h (VDTH), a media company that he helped grow from a start-up to over $1B in annual revenues through a combination of organic growth and strategic transactions. Jain helped orchestrate Videocon's successful listing on Nasdaq in 2015 followed by the announcement of its merger with Dish (DISH) TV India in 2016. Prior to his tenure at Videocon, Jain worked at Aon, PricewaterhouseCoopers and Deloitte.
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ALE | Hot Stocks18:06 EDT Wisconsin jury delivers verdict in favor of U.S. Water in Novozymes suit - U.S. Water, an Allete company, announced that last week a federal jury in the Western District of Wisconsin delivered a unanimous verdict in favor of U.S. Water in its lawsuit against Novozymes A/S and Novozymes North America, Inc. The jury found that Novozymes's sale of Phytaflow to its customers caused infringement of the U.S. Water patents asserted in that case, U.S. Patent Nos. 8,415,137 and 8,609,399, relating to U.S. Water's pHytOUT deposit control technology and that these patents are valid. The jury awarded U.S. Water $7.58M in past damages for Novozymes's infringement.
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SYT ADAM | Hot Stocks18:04 EDT Syngenta and Adama to sell portfolio of crop products to Nufarm for $490M - Syngenta (SYT) announced that Adama Agricultural Solutions (ADAM) and Syngenta AG have entered into binding agreement with Nufarm to sell a portfolio of crop protection products for an agreed transaction value of $490M. The combined portfolio of products being divested includes off-patent crop protection formulations in the herbicides, fungicides, insecticides and other categories in the EEA. No physical assets or personnel will be transferred as part of the transaction. Syngenta will also sell inventory to Nufarm at closing of the transaction, which is expected to occur in the Q1 of calendar year 2018. Rabobank is acting as exclusive financial advisor to Syngenta in connection with this transaction.
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VIVO | Hot Stocks17:31 EDT Meridian Bioscience comments on FDA Warning Letter issued to subsidiary - Meridian Bioscience announced that the FDA has issued a Warning Letter related to matters at its Magellan Diagnostics subsidiary. In its July 27 press release, Meridian indicated that it expected Magellan would receive a Warning Letter based on the observations from the FDA's inspection, which was completed on June 29. Since the issuance of the FDA 483 Inspectional Observations at the conclusion of the inspection, Magellan has initiated prompt and comprehensive quality system remediation activities. Magellan will promptly submit a response to the Warning Letter for the Agency's consideration. Meridian Bioscience and Magellan reiterate their mutual commitment to strengthening Magellan's quality system and ensuring all aspects of the system are in full compliance. Both organizations take this very seriously. Magellan is addressing the observations noted in the Form FDA 483 and the Warning Letter with the highest sense of urgency.
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APRN | Hot Stocks17:30 EDT Blue Apron names Lainie Cooney chief HR officer - Blue Apron announced that Lainie Cooney has joined the company as Chief Human Resources Officer. Cooney is a member of Blue Apron's executive leadership team, responsible for driving the company's human resources strategy and reporting to Chief Executive Officer Matt Salzberg. Cooney most recently served as Chief Human Resources Officer at DPI Specialty Foods.
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WSFS | Hot Stocks17:29 EDT WSFS Financial raises quarterly dividend 29% to 9c per share - The dividend will be paid on November 21 to stockholders of record as of November 7.
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CONN | Hot Stocks17:28 EDT Conn's sees Q3 SSS down 9% to down 5%, provision for bad debts at $56M-$61M - The company states: "The turnaround underway in credit continues and has provided the company with flexibility to withstand Hurricane Harvey's impact on credit results. In addition, the requirement that all in-house credit customers have property insurance has insulated the company's net exposure to credit losses from Hurricane Harvey, as well as provided protection for customers. Provision for bad debts for the third quarter of fiscal year 2018 is expected to be between $56.0 million and $61.0 million. Conn's believes this captures the estimated losses associated with loans effected by the storm. Same store sales during August and September were affected by approximately 100 lost selling days and reduced traffic associated with Hurricane Harvey. Beginning in mid-September, Conn's started to experience positive sales trends, as sales within Southeast Texas benefited from rebuilding activities. October's month-to-date same store sales in the markets impacted by Hurricane Harvey are up over 15.0%. In addition, same store sales trends in markets outside of Hurricane Harvey have started to improve as the company fully lapped meaningful underwriting refinements made last fiscal year. October month-to-date same store sales in markets outside Southeast Texas are down approximately -7.0%. As a result, the company expects same store sales for the third quarter of fiscal year 2018 to be down -5.0% to -9.0%."
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VBTX | Hot Stocks17:27 EDT Veritex names Michael Bryan chief information officer - Veritex Holdings, the parent holding company of Veritex Community Bank, announced the appointment of Michael Bryan in the newly-created role of chief information officer, effective as of the date that Bryan commences employment with the company. Prior to joining the company, Bryan served as executive VP, chief information officer at BNC Bank from May 2010 to June 2017.
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TNDM | Hot Stocks17:25 EDT Armistice Capital reports 4.99% passive stake in Tandem Diabetes
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CLB | Hot Stocks17:21 EDT Core Laboratories sees Q4 free cash flow exceeding net income - Fourth quarter 2017 FCF is expected to exceed net income and Core expects that it will continue to return all excess capital to its shareholders during the quarter.
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LKQ DOV | Hot Stocks17:17 EDT LKQ Corp to acquire aftermarket business of Dover subsidiary Warn Industries - LKQ Corporation (LKQ) announced that its Specialty Segment, Keystone Automotive Operations, Inc. agreed to acquire the aftermarket business of Warn Industries, Inc. Warn is a wholly owned subsidiary of Dover Corporation (DOV). Terms not disclosed.
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KNL... | Hot Stocks17:17 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Knoll (KNL), up 12.5%... HomeStreet (HMST), up 4.9%... Crane (CR), up 1.1%. ALSO HIGHER: Impax (IPXL), up 5.2% after it announced FDA approval and launch of its generic Renvela... Intercept (ICPT), up 2.2% after it announced "positive" results from its Phase 2 AESOP trial... Stanley Black & Decker (SWK), up 1% after it named Nike (NKE) CIO Jim Scholefield to its board of directors. DOWN AFTER EARNINGS: HNI Corporation (HNI), down 15.5%... Whirlpool (WHR), down 6.2%... Zions Bancorp (ZION), down 0.9%... John Bean Technologies (JBT), down 0.3%. ALSO LOWER: Immune Design (IMDZ), down 18.3% after it filed to sell 16M shares of common stock... Corbus Pharmaceuticals (CRBP), down 4.1% after it filed to sell common stock... uniQure (QURE), down 3.4% after it filed to sell 5M shares of common stock.
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NYT | Hot Stocks17:15 EDT Darsana Capital Partners reports 5.8% passive stake in New York Times
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USEG | Hot Stocks17:07 EDT U.S. Energy announces participation in upcoming drilling program - U.S. Energy announced it will participate in the upcoming horizontal drilling program on its existing acreage position targeting the development of the Georgetown formation in Zavala and Dimmit Counties, Texas. The development program will take place on acreage positions previously developed for shallower horizons. Operations are expected to begin in late October 2017 and the initial well will be drilled as a dual lateral. Highlights: U.S. Energy plans to participate in up to 6 horizontal wells on its existing acreage position. Company working interests range from approximately 6%-15% across the entire position. At current commodity prices, single well economics are expected to generate an approximate 60% internal rate of return, 2.5x cash on cash return and pay back in approximately one year. The operator of the initial two wells in the drilling program, CML Exploration, has identified multiple targets to develop and has recently been active and successful targeting the Georgetown formation. The expected gross drilling and completion cost for a single horizontal well is approximately $3.4M. Drilling costs will be funded from cash flow from operations and existing cash on hand. Once completed, the program will generate a meaningful and immediate increase in company reserves.
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KOS HES | Hot Stocks17:05 EDT Kosmos to acquire interest in exploration licenses in Gulf of Guinea for $650M - Kosmos Energy announced that in partnership with Trident Energy it has agreed to acquire an interest in three exploration licenses, as well as Hess Corporation's (HES) interest in the adjacent Ceiba Field and Okume Complex assets offshore Equatorial Guinea on a 50-50 basis. Under the terms of the agreements, The transactions add approximately 13,500 barrels of oil per day of net production with identified opportunities for resource and value upside and includes approximately 45 million barrels of net identified 2P/2C remaining recoverable resource. Assets are expected to generate approximately $120 million of operating cash flow per year at $50 Brent over the next several years, net to Kosmos. The gross acquisition price of $650 million is effective as of January 1, 2017. Kosmos is expected to pay net cash consideration of approximately $240 million at close, subject to post-closing adjustments. The company plans to fund the acquisition using cash on hand and availability from its reserves based lending facility.
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FULT | Hot Stocks17:04 EDT Fulton Financial: Mark McCollom to assume CFO role in early 2018 - Fulton Financial announced that Mark McCollom will join the company as Senior Executive Vice President and a member of Fulton Financial's senior management team, effective in November. McCollom also will serve as CFO Designee, and assume the role of CFO in early 2018 from Philmer Rohrbaugh, the company's interim CFO. McCollom is currently Senior Managing Director and COO of Griffin Financial Group, an investment banking and financial advisory firm headquartered in Reading, PA. He has more than 30 years of financial services experience in various positions with different entities.
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LYB | Hot Stocks17:03 EDT LyondellBasell names Darleen Caron chief HR officer - LyondellBasell announced the appointment of Darleen Caron as executive vice president and chief human resources officer. Most recently, Caron was executive vice president of global human resources for SNC-Lavalin, Inc.
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NBIX | Hot Stocks16:58 EDT Neurocrine granted FDA orphan drug designation for INGREZZA - Neurocrine Biosciences announced that valbenazine, a novel selective vesicular monoamine transporter 2 VMAT2, has been granted Orphan Drug Designation by the U.S. Food and Drug Administration for the treatment of pediatric patients with Tourette syndrome. Valbenazine is marketed in the United States as INGREZZA capsules for the treatment of adults with tardive dyskinesia.
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THC | Hot Stocks16:46 EDT Tenet CEO Trevor Fetter departs, Ronald Rittenmeyer to succeed - Tenet Healthcare announced that Trevor Fetter has stepped down from his role as CEO and resigned as a director of the company, effective October 23. The Board of Directors has appointed Ronald Rittenmeyer, executive chairman, to serve as CEO while the company continues its search for a permanent CEO. Tenet previously announced on August 31 the planned departure of Fetter, the commencement of a search for a new CEO, and the appointment of Rittenmeyer as executive chairman and principal executive officer.
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WHR | Hot Stocks16:42 EDT Whirlpool down 8% after raw materials cost hit profitability - Shares are down 7.85% to $168.17 per share in after-hours trading.
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WHR | Hot Stocks16:39 EDT Whirlpool announces global cost-based price increases - The company announced global cost-based price increases on a majority of its business to offset the impact of sustained raw material inflation.
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WHR | Hot Stocks16:38 EDT Whirlpool sees FY1 cash from operating activities of $1.55 to $1.6B - For the full-year 2017, the company now expects to generate cash from operating activities of $1.55 to $1.6B and free cash flow of approximately $900M. Included in this guidance are primarily acquisition-related restructuring cash outlays of up to $175M, legacy product warranty and liability costs of $70M, pension contributions of $45M and, with respect to free cash flow, capital spending of $650 to $700M.For the full-year 2017, Whirlpool Corporation now expects GAAP earnings per diluted share of $11.10 to $11.40 and ongoing earnings per diluted share of $13.60 to $13.90.
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EHTH | Hot Stocks16:38 EDT Cannell Capital reports 7.3% passive stake in eHealth
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ADUS | Hot Stocks16:37 EDT Addus HomeCare announces resignation of of Simon Bachleda from board - Addus HomeCare announced that Simon A. Bachleda, a member of its Board of Directors since September 2006, has tendered his resignation from the Board. Bachleda is leaving the Board to be able to focus more on his responsibilities as Co-Founder and Managing Partner of Revelstoke Capital Partners. The Board has determined that it will not fill the vacancy left by Bachleda's departure at this time, and therefore, the size of the Board will be six directors.
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WHR | Hot Stocks16:36 EDT Whirlpool experienced significantly elevated raw material prices in Q3 - In 2017, the company experienced significantly elevated raw material prices which are now expected to further increase through 2018. As a result, in October the company announced to its trade customers global cost-based price increases expected to cover a majority of its business, to be implemented during the fourth quarter of 2017 and the first quarter of 2018.Additionally, the company announced an initiative to reduce fixed overhead costs by $150M, which will be implemented in early 2018. This initiative is in addition to the Company's ongoing cost productivity efforts.The impact of these actions on 2018 guidance will be discussed during the year-end earnings call.
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SINA | Hot Stocks16:28 EDT Aristeia Capital urges Sina holders to vote for its board candidates - Aristeia Capital, a long-term investor in Sina Corporation and currently one of the company's five largest shareholders, sent a letter to Sina shareholders in connection with Aristeia's nomination of two candidates - Thomas J. Manning and Brett H. Krause - for election to the company's board of directors at the upcoming Annual Meeting of shareholders, which is currently scheduled to be held on November 3, 2017 in Hong Kong, with a proxy voting deadline that is 48 hours earlier. Aristeia urges all Sina shareholders to vote on the BLUE proxy card today.
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HAWK | Hot Stocks16:26 EDT Blackhawk names Charles Garner as CFO - Blackhawk announced that Charles Garner, CFA, has been appointed CFO. Garner will succeed Jerry Ulrich as Blackhawk's CFO, while Ulrich will continue to serve as the company's chief administrative officer until he retires after a transition period with Garner. Garner is a seasoned executive with deep experience in both finance and operations. Previously, he served as CFO and chief administrative officer of Zelis Healthcare Corp., a healthcare information technology and electronic payments company.
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DAL | Hot Stocks16:22 EDT Delta Air Lines names Ash Carter as newest member to board - Delta Air Lines' Board of Directors announced Ash Carter as its newest member, effective immediately. Carter is Director of the Belfer Center for Science and International Affairs at Harvard Kennedy School and an Innovation Fellow at MIT. He served as U.S. Secretary of Defense from 2015 to 2017.
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RP | Hot Stocks16:22 EDT RealPage acquires PEX for roughly $6.2M - RealPage announced the acquisition of all of the outstanding capital stock of PEX Software Limited, a London-based provider of property management, online leasing and resident software solutions. The platform serves market-leading clients in the United Kingdom, European Union and Australia that manage private rental sector and student rental housing properties. RealPage expects to retain PEX's London and Sydney offices as a base of operations for broader solution expansion in those markets. RealPage intends to augment the staff in London and Sydney with sales, technical support and implementation specialists. PEX's development operation staff in Valencia, Spain, is expected to be housed in RealPage's Barcelona office. The acquisition purchase price of approximately $6.2M in cash is subject to working capital adjustments and post-acquisition indemnification claims. PEX is expected to have an immaterial impact on financial performance during 2017, but will contribute to the company's international expansion plans, which are expected to become increasingly important to RealPage.
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OKE MMLP | Hot Stocks16:21 EDT Oneok announces West Texas LPG system expansion into Delaware Basin - ONEOK (OKE) announced that the West Texas LPG Pipeline Limited Partnership, a joint venture between ONEOK, which is the operator and owns 80%, and Martin Midstream Partners (MMLP), which owns 20%, plans to invest approximately $200M to expand its natural gas liquids system into the prolific Delaware Basin, part of the larger Permian Basin. This project, which is expected to be completed in the third quarter of 2018, is supported by long-term dedicated NGL production from two planned third-party natural gas processing plants in northern Reeves County, which we estimate will produce up to 40,000 barrels per day. The Delaware Basin extension includes: The construction of an approximately 120-mile, 16-inch pipeline lateral that will have an initial capacity of 110,000 bpd; and the construction of two new pump stations and pipeline looping along the existing West Texas LPG system that will increase its capacity to handle the dedicated volume.
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JBT | Hot Stocks16:19 EDT John Bean Technologies reports Q3 backlog up 23% y/y - For the third quarter, inbound orders of $440M increased 27% from the prior year, reflecting a gain of 22% at FoodTech and a 38% increase at AeroTech. Backlog improved 23% from the year-ago period.
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COTV | Hot Stocks16:18 EDT Cotiviti Holdings appoints Nord Samuelson as CDO - Cotiviti Holdings announced that Nord Samuelson has joined Cotiviti as CDO. "We see the addition of this role as the next step in the journey to fully leverage our investments in the enterprise data platform, advanced analytics, and other capabilities to best serve clients. Nord's experience in building out digital capabilities and strategy will be invaluable as he collaborates with leaders across the company to increase the velocity of client value creation," said Doug Williams, CEO.
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GPOR | Hot Stocks16:14 EDT Gulfport Energy reaffirms FY17 average natural gas price view - Based on actual results during the nine months ended September 30 and utilizing current strip pricing at the various regional pricing points at which the Company sells its natural gas, Gulfport reiterates its realized natural gas price, before the effect of hedges and inclusive of the Company's firm transportation expense, and continues to forecast that its 2017 natural gas price will average in the range of 62c-68c per Mcf below NYMEX settlement prices in 2017. Gulfport now forecasts, before the effect of hedges, its 2017 realized NGL price will be approximately 45% to 50% of WTI and its 2017 realized oil price will be in the range of $3.25 to $3.75 per barrel below WTI.
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APTS | Hot Stocks16:13 EDT Preferred Apartment raises quarterly dividend 6.4% to 25c per share - The dividend is payable on January 16, 2018 to all common stockholders of record as of December 15, 2017. Even though this dividend will be paid in 2018, if and to the extent this dividend is taxable, PAC intends for this dividend to be taxable in 2017.
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GPOR | Hot Stocks16:12 EDT Gulfport Energy reports Q3 net production average increased 16% over Q2 - Gulfport Energy provided an update for the quarter ended September 30. Key information includes: Q3 net production averaged 1.2 Bcfe per day, a 16% increase over the Q2 and a 63% increase versus the Q3 of 2016; Q3 realized natural gas price before the impact of derivatives and including transportation costs, averaged $2.28 per Mcf, a $0.72 per Mcf differential to the average trade month NYMEX settled price; Q3 realized oil price, before the impact of derivatives and including transportation costs, averaged $45.90 per barrel, a $2.29 per barrel differential to the average WTI oil price; Q3 realized natural gas liquids price, before the impact of derivatives and including transportation costs, averaged 57c per gallon, equivalent to $23.89 per barrel, or approximately 50% of the average WTI oil price; realized natural gas price for the nine months ended September 30, before the impact of derivatives and including transportation costs, averaged $2.46 per Mcf, a $0.71 per Mcf differential to the average trade month NYMEX settled price.
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ANIK SNN | Hot Stocks16:09 EDT Anika Therapeutics names Thomas Finnerty chief HR officer - Anika Therapeutics (ANIK) announced the appointment of Thomas M. Finnerty as its Chief Human Resources Officer. Finnerty brings a 25-year track record of building global human resources teams, and specializes in talent acquisition and development, executive coaching, and employee engagement. After spending the last three months in a strategic human capital consulting role with Anika, Mr. Finnerty will transition to this newly-created position on October 30, 2017. Most recently, Finnerty spent 17 years as Senior Vice President of Human Resources at Smith & Nephew (SNN).
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RLGY COF | Hot Stocks16:08 EDT Realogy Chairman and CEO Smith to retire at year end - Realogy Holdings (RLGY) announced a leadership succession plan, reporting that Ryan Schneider has been named President and Chief Operating Officer and appointed to the Board of Directors. Schneider will begin his duties at Realogy on October 24 and Schneider will become Realogy's Chief Executive Officer, effective December 31. Richard Smith, Realogy's Chairman and CEO, will retire, also effective December 31, after 21 years of leadership with the company. At the same time, Michael Williams, Realogy's Lead Independent Director, will succeed Smith as Chairman of the company's board. Schneider joins Realogy after nearly 15 years of senior leadership experience at Capital One Financial (COF), where he was recently President of Capital One's Card division.
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PBCT | Hot Stocks16:08 EDT People's United releases results of company-run stress test - People's United announced the release of its 2017 company-run stress test results. In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, People's United is required to conduct annual stress tests) to assess the potential effect of hypothetical economic scenarios on earnings and capital. The results of the Company's 2017 DFAST indicate that both People's United and its subsidiary, People's United Bank, National Association, will have the financial resources to successfully navigate a severe and protracted economic downturn and will maintain capital levels that exceed regulatory minimums throughout the nine-quarter planning period under the Federal Reserve's Supervisory Severely Adverse scenario.
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SWK NKE | Hot Stocks16:07 EDT Stanley Black & Decker names Nike CIO Jim Scholefield to board - Black & Decker (SWK) has elected Jim Scholefield, Vice President and Global Chief Information Officer of Nike (NKE) to the company's Board of Directors. Scholefield brings the company's total number of directors to 11, including 10 independent directors, of which half are diverse.
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ICPT | Hot Stocks16:06 EDT Intercept announces positive results from Phase 2 AESOP trial - Intercept Pharmaceuticals announced additional results from the Phase 2 AESOP trial evaluating the investigational therapy obeticholic acid for the treatment of patients with primary sclerosing cholangitis. These data were presented by lead investigator Kris Kowdley, M.D., Director, Liver Care Network and Organ Care Research, Swedish Medical Center, Seattle, in a late-breaking oral session at The Liver Meeting 2017, the Annual Meeting of the American Association for the Study of Liver Diseases, in Washington, D.C. OCA achieved the primary endpoint of the AESOP trial: patients receiving 5 mg of OCA daily with the option to titrate to 10 mg achieved a statistically significant reduction in alkaline phosphatase as compared to placebo at week 24. The results from this dose-ranging study suggest that 5 mg may be the optimal titrated dose of OCA in this patient population.
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IPXL | Hot Stocks16:06 EDT Impax announces FDA approval and launch of generic Renvela - Impax Laboratories announced it has received final U.S. Food and Drug Administration approval on its Abbreviated New Drug Application for a generic version of Renvela tablets, 800 mg. Impax has immediately initiated commercialization activities."We are pleased to receive approval of our generic version of Renvela," said Paul Bisaro, President and Chief Executive Officer of Impax. "The immediate launch of this product further enhances our generic portfolio and our commitment to provide patients with a more affordable treatment option." Sales of generic Renvela are expected to benefit the company's financial results this year and had been reflected in its previously announced earnings guidance of $0.55 to $0.70 per diluted share for fiscal year 2017. Sevelamer carbonate tablets had U.S. brand and generic sales of approximately $1.9B, according to IMS Health for the 12 months ending August 2017.
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KR | Hot Stocks16:06 EDT Kroger names Mike Donnelly as COO - Donnelly, Kroger's executive vice president of merchandising, will assume responsibility for the company's operations and merchandising as EVP and COO, effective November 1. Donnelly began his career at Fry's Food Stores in California in 1978. He advanced to several leadership positions at Fry's, including district management. He was named vice president of merchandising for Fry's in 1995 and promoted to president of the Fry's division in 2000. He has served as Kroger's senior vice president of drug/GM, president of the company's Ralphs division, and senior vice president of merchandising before being promoted to his current position in 2015.
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MMLP OKE | Hot Stocks16:04 EDT Martin Midstream Partners announces West Texas LPG joint venture expansion - Martin Midstream Partners announced that the West Texas LPG Pipeline Limited Partnership joint venture -- of which MMLP owns a 20% interest with ONEOK (OKE) owning and operating the other 80% interest -- plans to invest approximately $200M to expand its natural gas liquids system into the prolific Delaware Basin, part of the larger Permian Basin, in service by Q3 of 2018. This project is supported by dedicated NGL production from two third-party planned natural gas processing plants in northern Reeves County, one of the most active areas in the Delaware Basin. The expansion will be supported by long-term volume dedications estimated to be up to 40,000 barrels per day. "When entering into the joint venture with Oneok in 2014, significant NGL volume growth was at the forefront of our investment thesis. The extension of the West Texas LPG Pipeline into the core of the Delaware Basin ideally positions us for this growth," said MMLP CEO Ruben Martin III.
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ADC | Hot Stocks16:04 EDT Agree Realty raises FY17 acquisiton volume view to $300M-$325M - The company's outlook for acquisition volume in 2017 is being increased to a range of $300M-$325M of high-quality retail net lease properties. The Company's acquisition guidance, which assumes continued growth in economic activity, moderate interest rate growth, positive business trends and other significant assumptions, is being increased from a previous range of $250M-$275M. The Company's disposition guidance for 2017 remains between $30M-$50M.
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PQ | Hot Stocks16:03 EDT PetroQuest announces results from horizontal Cotton Valley drilling program - PetroQuest Energy announced results from its horizontal Cotton Valley drilling program in East Texas. The Company completed a two well pad which established a cumulative maximum 24-hour gross daily rate of 17,207 Mcf of gas, 1,266 barrels of NGLs and 205 barrels of oil, for an equivalent rate of 26,033 Mcfe/d. PQ #26 and #27 represent the initial wells in the Company's northern most JV acreage. In addition, the Company commenced flowback on its PQ #28 well in early October. To date, the well has established a maximum 24-hour gross daily rate of 10,912 Mcf of gas, 689 barrels of NGLs and 51 barrels of oil, for an equivalent rate of 15,352 Mcfe/d. The three wells had an average lateral length of 6,163 feet and the Company estimates an average drill and complete cost of $893 per lateral foot.
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AMGN | Hot Stocks16:03 EDT Amgen says A.R.R.O.W study of once-weekly KYPROLIS meets primary endpoint - Amgen announced top-line results of the Phase 3 A.R.R.O.W. trial, which showed KYPROLIS administered once-weekly at the 70 mg/m2 dose with dexamethasone allowed relapsed and refractory multiple myeloma patients to live 3.6 months longer without their disease worsening than KYPROLIS administered twice-weekly at the 27 mg/m2 dose with dexamethasone. The overall safety profile of the once-weekly KYPROLIS regimen was comparable to that of the twice-weekly regimen. The study included 478 patients with relapsed and refractory multiple myeloma who received two or three prior lines of therapy, including a proteasome inhibitor and an immunomodulatory agent. Patients in the trial treated with the once-weekly KYPROLIS regimen achieved a statistically significant superior progression-free survival with a median of 11.2 months compared to 7.6 months for those treated with the twice-weekly KYPROLIS regimen. "KYPROLIS has been demonstrated to be the most effective proteosome inhibitor available to patients with multiple myeloma," said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. "We are encouraged by the efficacy and safety profile of KYPROLIS and dexamethasone administered once-weekly in the A.R.R.O.W. study." The most frequently reported treatment-emergent adverse events in either treatment arm were anemia, diarrhea, fatigue, hypertension, insomnia and pyrexia.
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KNL | Hot Stocks16:03 EDT Knoll CEO says sales stabilized in Q3 - CEO Andrew Cogan says: "The third quarter was an important inflection point as sales stabilized and we returned to double digit levels of profitability... For the first time, sales of our newer workplace models and related products exceeded those of our legacy systems. Coupled with continued growth in our residential and Specialty businesses, the initiatives we have taken over the past year to increase our market penetration and Office sales, position us well for a return to growth."
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UBSH | Hot Stocks16:02 EDT Union Bankshares announces departure of Chief Retail Officer Elizabeth Bentley - Union Bank & Trust announced that Executive Vice President and Chief Retail Officer Elizabeth M. Bentley has decided to leave the company effective December 31. John Stallings, president of Union Bank & Trust, will lead a national search for her replacement.
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AMGN | Hot Stocks16:02 EDT Amgen says A.R.R.O.W study of once-weekly KYPROLIS meets primary endpoint
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MSFT | Hot Stocks15:31 EDT Microsoft introduces the new Surface Book 2 - Reference Link
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GLOW | Hot Stocks15:10 EDT Glowpoint trading resumes
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CZR | Hot Stocks15:01 EDT Caesars appoints Chris Holdren as Chief Marketing Officer - Caesars Entertainment announced that Chris Holdren has been appointed the company's Chief Marketing Officer, effective November 1. Holdren "brings to Caesars more than two decades of diverse marketing experience," including, most recently, serving as Chief Marketing Officer of Handy, a high-growth technology startup, Caesars stated.
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DBD | Hot Stocks14:49 EDT Diebold Nixdorf names Patricia Lang chief people officer - Diebold Nixdorf announced that Patricia A. Lang has been promoted to vice president, chief people officer. She will be responsible for leading all employee-focused initiatives and human resource operations affecting Diebold Nixdorf's 24,000 people globally. She will report to Andy W. Mattes, Diebold Nixdorf president and chief executive officer, and is based at the company's headquarters in North Canton. Lang joined Diebold, Incorporated in 2012 to lead the company's global rewards, human resources information systems and people analytics organizations.
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XGTI | Hot Stocks14:47 EDT xG Technology announces $360,000 order in IMT Vislink unit - xG Technology announced that its IMT Vislink business has received a $360,000 order from a "prominent U.S. television station" for its NewStream comprehensive mobile broadcast transmission solution.
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ADP | Hot Stocks14:23 EDT Pershing Square: Glass Lewis recommends ADP holders vote for Pershing nominees - Pershing Square said that Glass Lewis recommends that ADP shareholders vote FOR Pershing Square's three nominees on the GOLD proxy card at ADP's annual meeting November 7, 2017. "[W]e believe Pershing Square has argued the more convincing case, particularly that: ADP is underperforming its potential; ADP's historical leadership position and scale advantages breed complacency with incremental improvements that accrue relatively easily year after year; ADP is not keeping pace with smaller competitors in key market segments in the evolving HCM industry; an inefficient corporate structure and insular culture restrain ADP from identifying and urgently responding to business opportunities and threats; and ADP's performance can be significantly improved, and shareholder returns enhanced, pursuant to a transformation plan implemented in a prudent manner under the oversight of a partly reconstituted board of directors. In our view, the board's response, or lack thereof, to the substance of Pershing Square's argument leaves much to be desired by shareholders and, similarly, the board's stated operational and financial plan strikes us as being inadequate and underwhelming given the substantial opportunity thoroughly detailed by Pershing Square."
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GLOW | Hot Stocks14:17 EDT Glowpoint trading halted, news pending
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BA SINGY | Hot Stocks14:09 EDT Boeing, Singapore Airlines announce $13.8B order for 39 planes - Boeing (BA) and Singapore Airlines (SINGY) formally announced a deal for 20 777-9s and 19 787-10s, during a ceremony at the White House. The order, previously attributed to an unidentified customer, is worth $13.8B at current list prices. The value of this sales transaction will sustain thousands of U.S. suppliers and more than 70,000 direct and indirect U.S. jobs during the delivery period of this contract. The airline also has options for 12 additional aircraft, six of each aircraft type. The signing ceremony, witnessed by US President Donald Trump and Prime Minister of Singapore Lee Hsien Loong, included Singapore Airlines' CEO Goh Choon Phong and Boeing Commercial Airplanes' President & CEO Kevin McAllister. Peter Seah, Singapore Airlines' Chairman, and Dinesh Keskar, senior vice president, Asia Pacific & India Sales, Boeing Commercial Airplanes and other members of the airline and Boeing also were in attendance.
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HES | Hot Stocks14:04 EDT Hess reaches 'amicable' tax settlement with Equatorial Guinea - The Ministry of Mines and Hydrocarbons of Equatorial Guinea, Hess Corporation and its license partners have reached a $220M settlement on tax issues related to the companies' interests in two producing oilfields, Ceiba and Okume. The deal between the government and the partners is the result of negotiations over recent months between the Ministry of Mines and Hydrocarbons and the management of Hess. The resolution of tax issues clears the way for Hess' sale of its 85-percent interest in the assets to Kosmos Energy, and for increased involvement by Tullow Oil, a 15% interest holder in Ceiba and Okume, in Equatorial Guinea's petroleum sector. This settlement demonstrates Equatorial Guinea's commitment to profitable partnerships with international energy companies.
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VIVO | Hot Stocks13:28 EDT Meridian Bioscience subsidiary sent warning letter by FDA - In a warning letter dated Oct. 23 that was recently posted to the FDA website, the agency stated that an inspection of Magellan Diagnostics' location in Massachusetts revealed that the LeadCare II and LeadCare Ultra Systems are "adulterated" under the definition laid out by the Federal Food, Drug, and Cosmetic Act. The letter, in addition to being sent to Magellan, was carbon copied to the CEO of Meridian Bioscience, the owner of subsidiary Magellan Diagnostics. Reference Link
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VIVO | Hot Stocks13:27 EDT Meridian Bioscience subsidiary sent warning letter by FDA - In a warning letter dated Oct. 23 that was recently posted to the FDA website, the agency stated that an inspection of Magellan Diagnostics' location in Massachusetts revealed that the LeadCare II and LeadCare Ultra Systems are "adulterated" under the definition laid out by the Federal Food, Drug, and Cosmetic Act. The letter, in addition to being sent to Meridian, was carbon copied to the CEO of Meridian Bioscience, the owner of subsidiary Magellan Diagnostics. Reference Link
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ADP | Hot Stocks12:54 EDT ADP 'strongly disagrees' with Glass Lewis' recommendation on director election - ADP issued the following statement in response to a report by Glass Lewis & Co regarding the election of directors to ADP's Board of Directors at the company's 2017 Annual Meeting of Stockholders, to be held on November 7, 2017. ADP strongly disagrees with Glass Lewis' recommendation, which does not reflect the company's strong track record of delivering value to shareholders or the deep experience and complementary skill sets of its 10 incumbent Directors. ADP urges all stockholders to vote "FOR" ADP's 10 director nominees on the WHITE proxy card today. "We strongly disagree with Glass Lewis' recommendation, which does not take into account the significant business risk inherent in Pershing Square's margin expansion target nor the negative impact it would have on client retention and ADP's overall business. After thoroughly reviewing Pershing Square's nominees' credentials, ADP's Board determined that none has relevant technology or Human Capital Management experience and all lack skills and experience that would be additive to our Board." "Glass Lewis fails to recognize ADP's outstanding track record of outperformance relative to our peers and the broader market, the strategic investments ADP has made to develop new, innovative technology and services, and the stewardship and strength of our Board... We are disappointed that Glass Lewis failed to acknowledge the lack of relevant experience of Pershing Square's nominees as well as Pershing Square's own failure to grasp the nuances of ADP's business."
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SSYS | Hot Stocks12:37 EDT Stratasys announces NYU study on treating kidney issues with 3D technology - Stratasys announced a new clinical study is being conducted with the New York University School of Medicine - aimed at advancing diagnosis and treatment of complex kidney and prostate tumors through imaging and 3D printing. These patient-specific 3D models of organs and their associated pathologies may empower surgeons and researchers to conduct more accurate pre-operative assessment and inter-operative guidance, potentially improving surgical outcomes.The two-year clinical trial is being led by Nicole Wake - a pre-doctoral researcher at the Sackler Institute of Graduate Biomedical Sciences at NYU School of Medicine. The study is specifically targeted at analyzing how patient-specific multi-colored physical tumor models, printed on the Stratasys J750 3D Printer, can potentially change and improve the quality of patient care.
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LGL | Hot Stocks12:32 EDT LGL Group reports extension of rights offering expiration to November 13 - The LGL Group announced that its Board of Directors has extended the expiration of its rights offering until 5:00 PM Eastern Standard Time on Monday, November 13. The rights offering was previously scheduled to expire on Wednesday, October 25. All other terms and conditions of the rights offering remain unchanged. Under the terms of the offering, holders of the company's common stock are entitled to three transferable subscription rights for each share held on the record date, September 5. For every four subscription rights exercised, a shareholder can purchase one whole share of common stock at a subscription price of $5.50 per whole share of common stock. The subscription rights are transferable and have been admitted to the NYSE American under the symbol "LGL-RT".
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PCRFY | Hot Stocks11:56 EDT Panasonic acquires deep learning innovator Arimo; terms not dislcosed - Panasonic announced that it has acquired Arimo Inc., a Mountain View, California-based leader in deep learning and behavioral artificial intelligence. Arimo is developing IoT-centric AI products for commercial and manufacturing applications, which are associated with Big Data and Deep Learning. Through this acquisition, Panasonic plans to leverage Arimo's data science expertise in solutions it provides to its B2B customers as well as in the housing business. By combining Arimo's strength in data science and especially in predictive analytics, Panasonic plans to accelerate the growth of its AI/IoT-based solution business and further promote the company's digital transformation.
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TGT... | Hot Stocks11:39 EDT Target climbs as retailer gears up for crucial holiday season - Shares of Target (TGT) rose after the retailer announced plans for the holiday season including free shipping and gifts under $15 as the company prepares to battle with Wal-Mart (WMT) and Amazon (AMZN) in the upcoming shopping season. EXCLUSIVE BRANDS: After Target previously said it would update its brand portfolio with the introduction of over 12 new exclusive brands by the end of 2018, the company announced eight of those brands will be available for the holiday season. Target has introduced Project 62, A New Day, Goodfellow and JoyLab, and, on November 5, will unveil Hearth & Hand with Magnolia, which is co-designed with Chip and Joanna Gaines and features 300 products, most for under $30. The company also announced that it will introduce four special collections featuring nearly 1,700 items, most of which are exclusive to Target and under $15. These holiday collections will be prominently displayed in the main aisles and key departments of Target store and on Target.com, the company said in a statement. In addition, the company is adding new items across its multi-category assortment including over 1,400 new and exclusive toys from national, specialty and owned brands, including Hatchimals Surprise and L.O.L. Surprise! Big Surprise. OTHER HOLIDAY INITIATIVES: Target is also launching GiftNow on Target.com enabling givers to click the GiftNow button on Target.com and send an e-gift box, which allows the recipient to accept the gift, change the color or size, or choose something different before anything ships. Additionally, Target is expanding its Wondershop seasonal brand, which features items "guests need to trim their tree and more," to include specialty food gifts and snacks. The company is also allowing customers to receive their orders in several ways, including visiting one of its 1,800 stores, ordering online for delivery from Target.com, using Order Pickup or using Target Restock. The retailer will also increase the number of stores that ship online orders to guests' homes to over 1,400 in an effort to increase efficiency. In addition, Target.com will offer Free Ship to all guests beginning November 1, with no minimum purchase required. WHAT'S NOTABLE: Last month Target said it planned to hire about 100,000 team members across the country for the upcoming holiday season, up from the 70,000 employees it hired last year, and said it would hire 4,500 team members at the company's distribution and fulfillment centers to replenish products to stores and fulfill digital sales throughout the season. Earlier this month, Target announced its nationwide expansion on Google Express (GOOG, GOOGL), including voice- activated shopping, as well as the addition of Target REDcard as a payment option in 2018. Target and Google also have partnered to explore and develop future digital experiences focused on Target's signature style categories. The expansion allows guests to shop Target's assortment using Google Express, via the Google Assistant on Google Home and Android TV, and will soon be available on eligible Android phones and iPhones. PEERS: Wal-Mart announced on September 20 that it would not hire thousands of seasonal workers for the upcoming critical holiday season and will instead offer the additional hours to its current associates. The company did say it would bring back its Holiday Helper program and will increase the number of Helpers it has in stores this season. Amazon announced it would create over 120,000 positions this season across its U.S. network of fulfillment centers, sortation centers and customer service sites. The company also launched the Amazon Handmade Gift Shop on Monday. PRICE ACTION: Target rose 2.2% to $63.11 in morning trading, though shares are down over 12% year-to-date.
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GE | Hot Stocks11:29 EDT Battleground: Analysts diverge on General Electric earnings power - This morning, Bank of America analyst Andrew Obin upgraded General Electric to Buy as he believes a multi-year reset in earnings expectations should enable the company to start to beat and raise. Conversely, his peer at Morgan Stanley downgraded the stock to Underweight, a sell-equivalent rating, citing a substantial cut to earnings forecasts and his expectation for a dividend cut. Meanwhile, UBS analyst Christopher Belfiore also cut General Electric's rating to Neutral, citing "disappointing" quarterly results. BUY GENERAL ELECTRIC: In a research note to investors this morning, Bank of America Merrill Lynch's Obin upgraded General Electric to Buy from Neutral, while lowering his price target on the stock to $27 from $28, due to the reset in earnings expectations. The analyst noted that he assumes negative revisions are bottoming following a reset in earnings guidance. He believes the multi-year reset should enable General Electric to start to beat and raise. Obin pointed out that in the absence of operational changes the stock will remain range-bound around current levels, and his upgrade is an explicit call on the new management's ability to rationalize complexity and to reduce costs at GE. The fact that the company's product line up has been renewed across the board over the past decade makes management's job easier, he added. SELL GENERAL ELECTRIC: Meanwhile, Morgan Stanley analyst Nigel Coe downgraded General Electric to Underweight from Equal Weight and lowered his price target on the stock to $22 from $25, citing a substantial cut to earnings expectations and a higher probability of a dividend cut than he believes is priced in. The analyst argued that investors need to take action to protect against the possibility of near-term underperformance in the event of a dividend cut in November. However, Coe pointed out that his move to Underweight is not in any way a reflection on new management as he thinks new CEO John Flannery is "the right man for the mission on hand," but the scale of the challenges he faces are greater than imagined. Overall, the analyst now believes the dividend will have to be adjusted down to reflect substantially lower earnings power as well as the fact that balance sheet leverage has increased materially over 2015/2017. MOVING TO THE SIDELINES: Also bearish on General Electric is UBS analyst Christopher Belfiore, who downgraded the stock this morning to Neutral, citing a "disappointing" third quarter, an expectation reset ahead and the risk to its dividend. The analyst noted that Power segment results were well below expectations for the second straight quarter and are expected to remain weak for the remainder of 2017 and into 2018. Belfiore also lowered his price target on the shares to $24 from $31, but noted that he thinks a lot of the negative sentiment is now reflected in the shares. PRICE ACTION: In late morning trading, shares of General Electric have dropped nearly 5% to $22.74. Year-to-date, GE shares are now down a bit over 28%.
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TGT... | Hot Stocks11:20 EDT Target climbs as retailer gears up for crucial holiday season - EXCLUSIVE BRANDS: After Target previously said it would update its brand portfolio with the introduction of over 12 new exclusive brands by the end of 2018, the company announced eight of those brands will be available for the holiday season. Target has introduced Project 62, A New Day, Goodfellow and JoyLab, and, on November 5, will unveil Hearth & Hand with Magnolia, which is co-designed with Chip and Joanna Gaines and features 300 products, most for under $30. The company also announced that it will introduce four special collections featuring nearly 1,700 items, most of which are exclusive to Target and under $15. These holiday collections will be prominently displayed in the main aisles and key departments of Target store and on Target.com, the company said in a statement. In addition, the company is adding new items across its multi-category assortment including over 1,400 new and exclusive toys from national, specialty and owned brands, including Hatchimals Surprise and L.O.L. Surprise! Big Surprise. OTHER HOLIDAY INITIATIVES: Target is also launching GiftNow on Target.com enabling givers to click the GiftNow button on Target.com and send an e-gift box, which allows the recipient to accept the gift, change the color or size, or choose something different before anything ships. Additionally, Target is expanding its Wondershop seasonal brand, which features items "guests need to trim their tree and more," to include specialty food gifts and snacks. The company is also allowing customers to receive their orders in several ways, including visiting one of its 1,800 stores, ordering online for delivery from Target.com, using Order Pickup or using Target Restock. The retailer will also increase the number of stores that ship online orders to guests' homes to over 1,400 in an effort to increase efficiency. In addition, Target.com will offer Free Ship to all guests beginning November 1, with no minimum purchase required. WHAT'S NOTABLE: Last month Target said it planned to hire about 100,000 team members across the country for the upcoming holiday season, up from the 70,000 employees it hired last year, and said it would hire 4,500 team members at the company's distribution and fulfillment centers to replenish products to stores and fulfill digital sales throughout the season. Earlier this month, Target announced its nationwide expansion on Google Express (GOOG, GOOGL), including voice- activated shopping, as well as the addition of Target REDcard as a payment option in 2018. Target and Google also have partnered to explore and develop future digital experiences focused on Target's signature style categories. The expansion allows guests to shop Target's assortment using Google Express, via the Google Assistant on Google Home and Android TV, and will soon be available on eligible Android phones and iPhones. PEERS: Wal-Mart announced on September 20 that it would not hire thousands of seasonal workers for the upcoming critical holiday season and will instead offer the additional hours to its current associates. The company did say it would bring back its Holiday Helper program and will increase the number of Helpers it has in stores this season. Amazon (AMZN) announced it would create over 120,000 positions this season across its U.S. network of fulfillment centers, sortation centers and customer service sites. The company also launched the Amazon Handmade Gift Shop on Monday. PRICE ACTION: Target rose 2.2% to $63.11 in morning trading, though shares are down over 12% year-to-date.
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SINA | Hot Stocks11:14 EDT Aristeia says Glass Lewis endorses nominees for Sina board - Aristeia Capital, a long-term investor in Sina Corporation and currently one of the company's five largest shareholders, owning approximately 3M shares, announced that Glass, Lewis & Co., an independent proxy voting advisory firm, has endorsed Aristeia's case for change and recommended that Sina shareholders vote to support the election of both of Aristeia's nominees, Thomas Manning and Brett Krause, to the company's Board at the upcoming Annual Meeting of shareholders, which is currently scheduled to be held on November 3. Glass Lewis endorsed Aristeia's case for change and recommended that Sina shareholders should vote to elect both Thomas Manning and Brett Krause to the Board, saying: "Dissident Nominees Manning and Krause have considerable executive-level financial services experience, including experience investing in China and in Asia, that would likely be of value to the board, in our view. Manning also has considerable public company board experience and Chinese corporate governance expertise, while Krause has expertise in the Chinese social/mobile industries. We expect the Dissident Nominees would be well positioned to assist the board in further evaluating potential strategic alternatives....We believe the Dissident presents a number of compelling ideas to address the Company's NAV discount, including increasing share repurchases or distributing additional Weibo shares, among other potential strategic alternatives...Moreover, we find that the incumbent board has failed present a persuasive case that the actions proposed by the Dissident to address the discount would likely be unsuccessful or unfavorable to shareholders. On the contrary, we believe the Dissident has presented a clear accounting of the potential accretion opportunity from further share repurchases and/or distributions."
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OPGN | Hot Stocks11:01 EDT OpGen announces award of $860K CDC contract - OpGen announced that it has been awarded a contract from the Centers for Disease Control and Prevention, or CDC, to develop smartphone-based clinical decision support solutions for antimicrobial stewardship and infection control in low- and middle-income countries. The one-year $860,000 award began September 30 and funds development and evaluation of cloud-based mobile software. OpGen's teaming partner Teqqa will provide its cloud- and mobile-based software platform, which integrates electronic patient data and local empiric treatment guidelines to support antimicrobial stewardship.
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TMUS... | Hot Stocks10:55 EDT T-Mobile adds 1.3M customers as Un-carrier remains mum on potential Sprint deal - Shares of T-Mobile US (TMUS) climbed in morning trading after the company reported its eighteenth consecutive quarter of adding more than 1M total customers. While the carrier reported quarterly results, it skirted the topic of merger discussions with Sprint (S). QUARTERLY EARNINGS: T-Mobile's third quarter earnings per share of 63c handily beat analysts' consensus estimates of 46c, while revenue of $10.02B was essentially in-line with the $10.01B analysts expected. The "Un-carrier" reported 1.3M total net additions, its eighteenth straight quarter of adding more than 1M total customers, with 595,000 branded postpaid phone net additions and 226,000 branded prepaid net additions and 1.23% postpaid phone churn. Branded postpaid phone ARPU was $46.93 in Q3, down 2.5% from the year-ago period, while branded prepaid ARPU was $38.93, up 2.4% y/y. T-Mobile, which is 64% owned by Deutsche Telekom (DTEGY), raised and narrowed its postpaid net customer additions guidance for fiscal 2017 to 3.3M-3.6M from 3M-3.6M. T-Mobile also raised and narrowed adjusted EBITDA guidance for the second time this year to $10.8B-$11B from $10.5B-$10.9B. The three-year CAGRs guidance for net cash provided by operating activities and free cash flow from full year 2016 to full year 2019 remains unchanged at 15%-18% and 45%-48%, the company said. T-Mobile continues to expect that branded postpaid phone ARPU in FY17 will be generally stable compared to FY16. VLOG POST: Instead of hosting its typical earnings conference call, the company posted a video blog of CEO John Legere discussing the results. "With all the rumors and speculation out there, we decided that we wanted to make sure you all saw and focused on our Q3 results and not just on the rumors and speculation that seem to fill the news every day," Legere said. On October 6, Bloomberg reported that Sprint and T-Mobile are working out the final details on a merger agreement, which should be announced at the end of the month. On October 13, Nikkei reported that the merger agreement could be announced soon, citing a broad pact reached with SoftBank (SFTBF), which owns 83% of Sprint. On October 16, Reuters reported that, according to people familiar with the matter, the companies plan to announce the merger without any immediate asset divestitures in order to preserve their spectrum holdings, while Bloomberg said on Thursday that the merger would be delayed "for a few weeks." Sprint, which is scheduled to report its earnings on Wednesday, is also planning to skip its conference call and post a recorded message. T-MOBILE, SPRINT CONTINUE DUE DILIGENCE: CNBC's David Faber said this morning that T-Mobile and Sprint are continuing their due diligence on a potential merger and an announcement could be made by early to mid-November, according to sources. ANALYST COMMENTARY: In a note to clients, Jefferies said that T-Mobile's Q3 performance and guidance increase highlights the fundamental strength of the Un-carrier and thinks there is "very little downside here." PRICE ACTION: T-Mobile is up nearly 2% to $61.56 in morning trading. Shares are up over 7% year-to-date.
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HLX | Hot Stocks10:49 EDT Helix Energy falls after saying strategic review concluded - On Helix Energy's Q3 earnings call, CEO Owen Kratz stated, according to a transcript of the call: "From time to time, we evaluate our strategic alternatives and what makes sense for our company and as we feel that exercise is part of fulfilling our duty for maximizing value to our shareholders. We recently completed that strategic review, and our conclusion was that at this time, our focus should be on our balance sheet, executing operationally and expanding our profit margins." Kratz added that the company's policy is not to comment on rumors or make disclosures about future strategic transactions unless they have something to announce. Shares of Helix Energy fell sharply shortly after the call began and are down over 11% to $6.86 as the call continues.
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STZ STZ.B | Hot Stocks10:20 EDT Trump Effect: U.S. NAFTA withdrawal might be good, not bad, for Constellation - Responding to investors' concern over the potential risk to Constellation Brands if the U.S. withdraws from NAFTA, Morgan Stanley analyst Dara Mohsenian argued that it could actually be a positive for the company as it would likely experience an indirect benefit from a possible weakening of the Mexican peso versus the U.S. dollar. LIKELY POSITIVE: In a research note this morning, Morgan Stanley's Dara Mohsenian told investors that with a December deadline approaching he has recently taken a number of investor calls about the risk to Constellation Brands if the U.S. withdraws from NAFTA, as President Donald Trump has threatened to do. While acknowledging that concern emanates from risk of taxes on the company's Mexican import beer business into the U.S. and that uncertainty clearly exists, the analyst believes the possible withdrawal could actually be a positive for Constellation, as it would likely experience an indirect benefit from a potential weakening of the Mexican peso against the U.S. dollar. Furthermore, Mohsenian argued that the potential negative impact from higher beer taxes is unlikely to play out in his mind, as the analyst believes the administration and Republicans are unlikely to support putting an unpopular regressive tax in place on beer. Nonetheless, pre-NAFTA U.S. tariffs on Mexican beers were only 1.7%, which would be a manageable level, he contended. Moreover, the analyst believes the market is not appropriately discounting the company's "strong" long-term growth prospects. Additionally, Mohsenian noted that the California fire risk looks manageable so far, given that most of the company's harvest was already picked for this year, and Constellation Brands' facilities appear to have not sustained damage so far. He reiterates an Overweight rating and $245 price target on the shares. PRICE ACTION: In morning trading, shares of Constellation Brands are fractionally lower at $210.94. "Trump Effect" is The Fly's recurring series of exclusive stories that highlight stocks that are being impacted, or are predicted to be impacted, by the comments, actions and policies of President Trump and his administration.
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KMB | Hot Stocks10:13 EDT Kimberly-Clark: Conditions in North America fairly tough - The company expects that the FY17 effective tax rate will be slightly lower than the FY16 adjusted effective tax rate of 30.7%. Says environment "difficult." Says conditions in North America remain fairly tough. Comments taken from the Q3 earnings conference call.
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KMB | Hot Stocks09:59 EDT Kimberly-Clark sees FY dividends, repurchases totaling $2.3B - Sees FY input cost inflation slightly above previous $200M-$300M estimate. Says FY dividends and share repurchases will total $2.3B, including $900M in share repurchases. Comments from slides that will be presented on the Q3 earnings conference call. Kimberly-Clark is up about 1.8% to $115.43 in morning trading.
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HAL | Hot Stocks09:59 EDT Halliburton says still focused on debt retirement - Says will consider M&A, returning cash to shareholders in terms of dividends, share buybacks.
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DISCB | Hot Stocks09:55 EDT Discovery Communications trading resumes
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STT | Hot Stocks09:52 EDT State Street says 'well-positioned' to exceed FY17 targets - Says pipeline remains strong. For FY17, the company expects to be at high end of 6% to 7% total fee revenue growth. Expects to be in high end of 100-200bps for fee operating leverage. Expects effective tax rate of 30%-32%. Expects NII in high end of $2.43B-$2.45B range or up 12% to 13%. Says continues to make good progress expanding Beacon across the organization. Says remains focused on returning capital to shareholders. Comments taken from Q3 earnings conference call.
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DISCB | Hot Stocks09:49 EDT Discovery Communications trading halted, volatility trading pause
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DEL... | Hot Stocks09:41 EDT Deltic Timber jumps after agreeing to be bought by larger peer Potlatch - Shares of Deltic Timber Corporation (DEL) jumped in early trading after the company agreed to be acquired by larger peer Potlatch Corporation (PCH). The combined company is expected to have a pro-forma market cap of about $3.3B and a total enterprise value of over $4B. ALL-STOCK TRANSACTION: Potlatch confirmed this morning that it has agreed to buy Deltic Timber in an all-stock transaction, creating a company with a total enterprise value of $4B. Under the terms of the deal, Deltic shareholders will receive 1.8 Potlatch shares for each Deltic share they own. When the deal closes, which is expected to occur in the first half of 2018, Potlatch shareholders will own 65% of the combined company. The combined company will be called Potlatch Deltic Corporation and trade on the Nasdaq Stock Market under the ticker "PCH." Deltic Chief Executive Officer John Enlow will be the combined company's vice chairman, while Potlatch Chief Executive Officer Mike Covey would continue in the role. Deltic will convert to a real estate investment trust structure, and will pay out accumulated profits of $250M to investors through a dividend consisting of 80% stock and 20% cash by the end of 2018. The companies expect to realize about $50M of after-tax cash synergies and operational efficiencies. The combined company will have a diverse timberland portfolio of approximately 2M acres, with approximately 1.1M acres in the U.S. South, 600,000 acres in Idaho, and 150,000 acres in Minnesota. In addition, the company will operate eight wood products manufacturing facilities, including six lumber manufacturing facilities, one medium density fiberboard facility and one industrial plywood mill. The combined company will have lumber capacity of 1.2B board feet in total. Deltic and Potlatch compete with Weyerhaeuser (WY). WHAT'S NOTABLE: In August, Deltic said it was assessing a "comprehensive range" of strategic alternatives, both internal and external. The company said at the time that it had been approached "by a number of industry participants" regarding interest in a potential deal. Deltic said it had met with Southeastern Asset Management, which held a 15% stake in Deltic as of August 25, "on a number of occasions" to discuss the ideas. In August, SAM said "it has become clear after many attempts that Deltic is not serious about engaging with Southeastern at a substantive level," and that it may nominate directors at Deltic's next annual meeting. OTHER POTLATCH NEWS: Potlatch this morning also reported quarterly results, with earnings per share excluding items of 94c beating analysts' consensus estimates of 90c. Revenue of $190.44M was essentially in line with analysts' $190.45M consensus. Potlatch also raised its quarterly dividend 7% to 40c per share from 37.5c, payable December 29 to investors of record on December 8. PRICE ACTION: In early trading, Deltic Timber is up over 6% to $94.83, while Potlatch is up about 2% to $53.90.
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HAL | Hot Stocks09:35 EDT Halliburton says won't invest in E&P projects that are of longer duration
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DGII | Hot Stocks09:32 EDT Digi International acquires TempAlert for $45M in cash plus future incentives - Digi International announced that it has acquired TempAlert, a provider of automated, real-time temperature monitoring and task management solutions for the healthcare, industrial and foodservice industries. TempAlert will join the Digi Smart Solutions team. Digi purchased Boston-based TempAlert for $45M in cash plus future earn out incentives. The TempAlert solution will not only be supported and enhanced, but also leveraged within Digi's existing products and services to expand its advanced portfolio of solutions. Digi is excited to welcome TempAlert CEO Harry Schechter and the TempAlert team as employees of Digi Smart Solutions. Schechter will play a leading role in the IoT strategy going forward. Schechter will report to COO Kevin Riley.
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BCLI | Hot Stocks09:32 EDT BrainStorm awarded patent for methods for ALS and Parkinson treatments - BrainStorm Cell Therapeutics announced that it has received Notice of Allowance from the U.S. Patent Office for US Patent Application No.: 14/173,846 titled "ISOLATED CELLS AND POPULATIONS COMPRISING SAME FOR THE TREATMENT OF CNS DISEASES". The allowed claims cover methods of treating amyotrophic lateral sclerosis, or ALS, and Parkinson's disease using mesenchymal stem cells that secrete neurotrophic factors, including glial derived neurotrophic factor, or GDNF. This patent is the result of Brainstorm's ongoing development of NurOwn that initiated at the Tel Aviv University.
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KMX | Hot Stocks09:32 EDT CarMax aims to hire mroe than 2,000 employees by year-end - CarMax announces plans to hire for more than 2,000 positions companywide by the end of the year. At a time when many retailers are hiring for seasonal positions, CarMax is hiring for long-term careers. CarMax currently employs more than 24,000 people nationwide and provides opportunities for associates to grow within the company by offering ongoing training and development opportunities that support personal and career goals. The majority of new and open positions are for sales consultants, technicians, detailers and inventory associates.
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HAL | Hot Stocks09:30 EDT Halliburton sees marginal rise in Q4 operating profit in D&E, C&P units
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VFC... | Hot Stocks09:28 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: VF Corp. (VFC), up 2.6%... Seagate Technology (STX), up 12.6%... Scorpio Bulkers (SALT), up 2.4%... Halliburton (HAL), up marginally... T-Mobile (TMUS), up 1.1%. ALSO HIGHER: China Lodging (HTHT), up 1.1% after announcing a special dividend... Potlatch (PCH) is up 4.4% and Deltic Timber (DEL) is up 8.8% after the companies announced they will merge in an all-cash transaction. DOWN AFTER EARNINGS: Hasbro (HAS), down 4.5%... State Street (STT), down 2.4%... Logitech (LOGI), down fractionally.
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HAL | Hot Stocks09:28 EDT Halliburton expects U.S. land results to moderate in Q4 - Sees Q4 tax rate 27%-29%.
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RBS | Hot Stocks09:27 EDT FCA provides update on review of RBS's treatment of SME customers - The Financial Conduct Authority has published an interim summary of the independent review of Royal Bank of Scotland's treatment of small and medium-sized enterprise customers transferred to its Global Restructuring Group. Andrew Bailey, FCA Chief Executive commented: "As we reported in November 2016, while the most serious allegations were not upheld by the Skilled Person, the report did identify other concerns about the treatment of SME customers. RBS has accepted that it did not meet the standards it set for itself which impacted on how it treated some of its SME customers. RBS has since taken voluntary steps, such as its proactive review of complex fees, and setting up a complaints scheme for eligible SME customers, overseen by an independent monitor, Sir William Blackburne. Having considered documents and cases highlighted by the Skilled Person we agreed that RBS's proposals, including to establish a complaints scheme, were appropriate steps. We are investigating the matters arising from the Skilled Person's Report and are focussing on whether there is any basis for further action within our powers. We cannot comment any further on this."
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HAL | Hot Stocks09:23 EDT Halliburton says sees CapEx in-line with depreciation expense
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HAL | Hot Stocks09:20 EDT Halliburton says Middle East remains most active international market -
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TYL SSNLF | Hot Stocks09:18 EDT Tyler Technologies, Samsung to develop offerings for public safety agencies - Tyler Technologies (TYL) announced that it is collaborating with Samsung Electronics America, Inc (SSNLF) in the Samsung Enterprise Alliance Program to create additional innovative products for public safety agencies. This program provides partners with access to more device features and leading-edge technologies on Samsung mobile devices. With this capability, partner software solutions can be better tailored to meet the needs of public safety end users, with the assurance of Samsung's defense-grade mobile security platform protecting the devices from hardware through software layers. Tyler is currently working with Samsung to develop wearable smart device applications that will integrate with New World public safety software. This initial wearable device will be available on the Samsung Gear S3, which is Samsung's newest smartwatch and is compatible with most Android smartphones.
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CRAY MSFT | Hot Stocks09:18 EDT Cray announces strategic alliance with Microsoft - Cray (CRAY) announced an exclusive strategic alliance with Microsoft (MSFT) that gives enterprises the tools to enable a new era of discovery and insight, while broadening the availability of supercomputing to new markets and new customers. Under the partnership agreement, Microsoft and Cray will jointly engage with customers to offer dedicated Cray supercomputing systems in Microsoft Azure datacenters to enable customers to run AI, advanced analytics, and modeling and simulation workloads at unprecedented scale, seamlessly connected to the Azure cloud.
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HAL | Hot Stocks09:15 EDT Halliburton says completion intensity not slowing down
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AQMS | Hot Stocks09:14 EDT Aqua Metals awarded first U.S. patent - Aqua Metals, which is proceeding to commercialize its proprietary electrochemical lead recycling technology called AquaRefining, has received a formal Notice of Allowance from the US Patent Office for its first U.S. patent application. On October 16, the USPTO issued a Notice of Allowance for Aqua Metals' first U.S. patent application. This was a national phase from an initial PCT application. Under USPTO practice, there is no opposition period between allowance and issuance. This builds on the successful patent actions in Korea, Japan and Australia and strengthens the company's ability to transition into licensing activities.
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STL | Hot Stocks09:13 EDT Sterling Bancorp named official commercial bank of NY Jets - Sterling National Bank and the New York Jets have announced a new, multi-year partnership naming Sterling the "Official Commercial Bank of the New York Jets." The partnership unites two recognizable brands with deep roots in the New York metro region, bringing valued clients and fans together under one umbrella. The partnership is Sterling's first ever alliance with a professional sports team.
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SSC | Hot Stocks09:13 EDT Seven Stars Cloud Group announces agreement for its platform - Seven Stars Cloud Group announced a non-exclusive agreement to license the technology platform from its Red Coin Chain JV. Guangxi Dragon Coin Network Technology, a subsidiary of Courage Investment Group, will be granted a non-exclusive license from SSC and the Red Coin Chain JV, to use Red Coin's technology platform specifically and exclusively for real estate based securitization. In exchange and in consideration for, the non-exclusive rights to the technology, SSC will receive 17.9% of the existing total equity of Courage Investment Group Limited which is the Licensee's HK listed parent company. 17.9% of Courage Investment Group's shares are valued at approximately HK$ 151M, based on a recent closing price trading price of HK$ 1.76. That pegs the shares at a value of approximately $18.5M as of the date of this announcement.
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HAL | Hot Stocks09:12 EDT Halliburton says North America frack market remains tight - Says can continue to push service prices higher.
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RBS | Hot Stocks09:11 EDT RBS 'pleased' with FCA report on independent review into GRG - RBS said that it "welcomes the publication of the Financial Conduct Authority's summary report, consistent with the summary findings announced by the FCA in November 2016." RBS also welcomes the FCA's confirmation that the most serious allegations made against the bank have not been upheld and that the steps it announced in November to put things right for customers remain appropriate. RBS added: "The bank has previously acknowledged that, in some areas, it could have done better for SME customers in GRG and again apologises for these mistakes. Specifically, the bank could have managed the transition to GRG better and should have better explained to customers any changes to the prices or complex fees it was charging. The bank accepts that it did not always communicate as well or as clearly as it should have done. The bank also did not always handle complaints well. As a result of these historical issues identified, it put in place two steps - a complaints process overseen by retired High Court Judge, Sir William Blackburne, and an automatic refund of complex fees - for SMEs in the UK and ROI that were customers in GRG during the period 2008 - 2013...The bank continues to estimate the cumulative cost of these measures to be approximately GBP 400M."
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HAL | Hot Stocks09:11 EDT Halliburton says 'pleased with progress' in Q3 - Says demand for completion equipment remains strong. Says still has ability to push price. Comments from Q3 earnings conference call.
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SNPS | Hot Stocks09:09 EDT Synopsys Verification Continuum platform selected by SiFive - Synopsys announced that SiFive has selected the Synopsys Verification Continuum platform as its verification solution. SiFive has deployed the Verification Continuum platform for simulation, verification IP, debug, static verification and formal coverage closure. Synopsys' leadership position in these critical verification technology areas, combined with native integrations among these products, has enabled SiFive to meet aggressive goals for scalable verification of customized RISC-V processors and SoCs targeted for internet of things, or IoT, edge computing, machine learning, storage and other applications.
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DYNT | Hot Stocks09:07 EDT Dynatronics signs distribution agreement with Zimmer MedizinSysteme - Dynatronics announced that it has signed an exclusive distribution agreement for the U.S. with Zimmer MedizinSysteme for select therapy equipment. Under the terms of the agreement, Dynatronics will be the exclusive U.S. distributor for Zimmer's ThermoPro, enPuls and OptonProTM products. Combining Dynatronics' existing modalities with these Zimmer products will provide Dynatronics customers in the U.S. with a complete range of modality products. Principally operating outside the U.S., Zimmer is the leading manufacturer of physical rehabilitation modalities in Germany, and one of the top three manufacturers of therapeutic modalities in Europe. Dynatronics has been operating as a distributor for Zimmer for the last nine months on a non-exclusive basis, building its base of experience and confidence in the products during that period.
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CAT | Hot Stocks09:06 EDT Caterpillar reports retail machines sales up 13% in three months end September - Caterpillar reported in a regulatory filing that its total retail machines sales were up 13% on a three month rolling basis in September. For reference, retail sales of machines were up 11% in the period ending in the prior month and up 12% in the period ending in July. The company reported world Resources Industries sales up 8% in the September-end period, compared to a August period increase of 5%. Construction Industries world sales were up 15% in the September-end period, better than the 12% increase in the prior period. Total Energy & Transportation Retail Sales were up 5% in the September-end period, better than the 3% decrease seen in the prior three-month period.
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JBLU | Hot Stocks09:06 EDT Skyhour, backed by JetBlue Technology Ventures, announces launch - Skyhour, "the next-generation gifting platform for air travel, has launched today to revolutionize the way people gift and receive flight hours. Enabling people to gift air travel to anyone, anywhere for just $60 an hour, Skyhour inspires endless travel possibilities to destinations worldwide. Skyhour is backed by JetBlue Technology Ventures, the corporate venture subsidiary of JetBlue Airways, which invests in, incubates and partners with early stage startups at the intersection of technology and travel."
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AMZN | Hot Stocks09:05 EDT Amazon's fall 2017 half-hour pilot season premieres on Nov. 10 on Prime Video - Amazon announced the lineup for its forthcoming fall pilot season which will debut on November 10 in over 200 countries and territories exclusively on Amazon Prime Video for all customers to stream. The new pilots include half-hours Love You More from creators Bridget Everett, Michael Patrick King, Bobcat Goldthwait and Carolyn Strauss; Sea Oak, based on a short story of the same name from creator and award-winning author George Saunders, starring Glenn Close, directed by Hiro Murai, and executive produced by Jonathan Krauss and showrunner Evan Dunsky; and The Climb, created by a fresh, powerful new voice, Diarra Kilpatrick, directed by Chris Robinson with showrunner Christina Lee.
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AUDC | Hot Stocks09:04 EDT AudioCodes announces collaboration with RedSky - AudioCodes announced that it is collaborating with RedSky to deliver enhanced emergency calling for hosted telephony environments. The integration of AudioCodes' 400HD series IP phones and session border controllers, or SBCs, with RedSky Horizon Mobility(TM) technology allows the physical location of a user to be identified in the event of a 9-1-1 call. The joint solution will be offered initially for BroadSoft BroadWorks environments.
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APLE MAR | Hot Stocks09:04 EDT Apple Hospitality acquires two residence inns by Marriott - Apple Hospitality REIT (APLE) announced that it acquired the 179-room Residence Inn by Marriott (MAR) Portland Downtown/Waterfront and the 136-room Residence Inn by Marriott Salt Lake City Murray. On October 13, 2017, Apple Hospitality acquired the Residence Inn by Marriott Portland Downtown/Waterfront, located at 145 Fore Street in Portland, Maine, for a purchase price of approximately $55.8M or $311,500 per key. The hotel is located on Portland's waterfront within walking distance of Portland's Historic Old Port District, Portland's cruise ship terminals, and a variety of restaurants, art galleries and entertainment venues. The hotel is also convenient to the University of Southern Maine, Maine Medical Center and numerous corporate offices. According to data provided by STR for the 12-month period ending September 30, 2017, RevPAR for the Portland, Maine submarket improved by approximately 5 percent, as compared to the previous 12-month period. On October 20, 2017, the Company acquired the Residence Inn by Marriott Salt Lake City Murray, located at 171 East 5300 South in Murray, Utah, for a purchase price of approximately $25.5M, or $187,500 per key. In addition to its close proximity to downtown Salt Lake City and numerous ski resorts, the hotel is ideally located near Intermountain Medical Center and a variety of shopping and dining options. According to data provided by STR for the 12-month period ending September 30, 2017, RevPAR for the Salt Lake City South submarket improved by approximately 9 percent, as compared to the previous 12-month period.
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DLR | Hot Stocks09:03 EDT Digital Realty and Mitsubishi enter into joint venture - Digital Realty announced it has entered into a 50/50 joint venture with Mitsubishi Corporation to provide data centre solutions in Japan. The new joint venture will benefit from Mitsubishi Corporation's local enterprise expertise and established data center presence in Tokyo, as well as Digital Realty's global client base and industry-leading track record of data centre operational excellence. The joint venture will operate under the name MC Digital Realty. Mitsubishi Corporation will contribute two existing data centre facilities in the western Tokyo suburb of Mitaka, while Digital Realty will contribute its recently completed data centre development project in Osaka. The three seed assets are collectively valued at approximately 40B Japanese Yen, or approximately $350M. The joint venture aims to build a meaningful platform to serve the broader Japanese market, with the potential to significantly expand its scope over the next several years
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ABT | Hot Stocks09:02 EDT Abbott receives FDA clearance for Confirm Rx Insertable Cardiac Monitor - Abbott has secured U.S. FDA clearance for the Confirm Rx Insertable Cardiac Monitor, the world's first and only smartphone compatible ICM designed to help physicians remotely identify cardiac arrhythmias. With FDA clearance Abbott can now provide U.S. patients a new way to monitor for abnormal heart rhythms while staying connected to their physician remotely and being able to engage in their health care.
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LUNA | Hot Stocks09:02 EDT Luna Innovations names Scott Graeff as president and CEO, replacing My Chung - Luna Innovations announced that its board of directors has appointed Scott Graeff as the company's president and CEO effective immediately. Graeff, who has been serving as chief strategy officer, treasurer and secretary, replaces My Chung, who has retired from the company. Graeff will also join the board of directors.
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ELLI | Hot Stocks09:01 EDT Ellie Mae, Digital Risk announce partnership agreement - Ellie Mae announced a partnership with Digital Risk, a risk, compliance and technology services company that offers differentiated solutions to the mortgage, consumer lending and other regulated industries, to enhance the quality control review process for Ellie Mae's customers.
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KTCC CETX | Hot Stocks09:01 EDT Cemtrex raises exchange offer for Key Tronic to deal valued at $11 per share - Cemtrex (CETX) announced a revised exchange offer, "valued substantially higher at $11 per share," to acquire Key Tronic Corporation (KTCC) by offering to exchange each outstanding share of Key Tronic common stock for one series 2 unit consisting of one $10 4% debenture due 2024 and one third share of Cemtrex common stock. "The purpose of the offer is for Cemtrex to acquire control of, and ultimately the entire interest in Key Tronic...Cemtrex believes its business model and financial resources would construct an optimal platform for the combined company to create long-term value for all stockholders," the company stated. This revised offer with Cemtrex's series 2 units equals $11 per KTCC share, which represents an approximate 59% premium to Friday's $6.91 closing price of Key Tronic's common shares, the company added.
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KTCC | Hot Stocks09:00 EDT KeyTronicEMS trading resumes
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CETX | Hot Stocks09:00 EDT Cemtrex trading resumes
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VFC | Hot Stocks08:59 EDT VF Corp. says retail environment 'sometimes difficult to predict' - Says retail environment "sometimes difficult to predict." Says "no change" in FY outlook for North Face, sees growth at high end of mid single digit range. Says Vans brand "stronger than it has ever been." Sees strong trajectory y/y for Vans, but says comparisons will be "difficult" in 2018. Sees global Vans revenue growth about 15% in 2017, up from prior outlook of the high end of low double digit growth. Says "no change" to FY revenue growth outlook for Timberland of low single digits, includes high single digit growth in Q4. Says forward visibility remains "low" for U.S. Jeanswear business. Sees low single digit growth for Wrangler brand in Q4. Now sees FY Jeanswear revenue declining modestly vs. previous view of "about flat." Comments taken from the Q3 earnings conference call. VF Corp is up about 3.8% in premarket trading.
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CTL | Hot Stocks08:58 EDT Keith Meister's Corvex slightly boosts CenturyLink stake to 6.7% - Keith Meister's Corvex Management disclosed a slightly increased stake in CenturyLink of 6.7%. The fund on August 17 disclosed a 6.6% stake. On October 20, the previously reported over-the-counter market American-style call options referencing an aggregate of 4M shares that had an exercise price of $28 per share and over-the-counter market American-style call options referencing an aggregate of 8M shares that had an exercise price of $30 per share that were beneficially owned by Corvex expired, the activist noted in a regulatory filing. In addition, on October 20, the previously reported over-the-counter market American-style put options referencing an aggregate of 4M shares that had an exercise price of $22 per share that were sold by Corvex were exercised by the counterparty and Corvex acquired beneficial ownership of the shares underlying the options. The fund may be deemed to be the beneficial owner of 25.85M shares and 11M shares underlying the call option.
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SLNO | Hot Stocks08:52 EDT Soleno Therapeutics regains compliance with Nasdaq listing requirements - Soleno Therapeutics announced it received a notice from the NASDAQ Listing Qualifications Staff on October 20, notifying the company that it regained compliance with NASDAQ's minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on The NASDAQ Capital Market. Accordingly, Soleno Therapeutics is in compliance with all applicable listing standards and its common stock will continue to be listed on The NASDAQ Capital Market and NASDAQ considers the matter closed.
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BYSI | Hot Stocks08:50 EDT BeyondSpring receives two grants in China to further develop drug pipeline - BeyondSpring announced that the company has received two China non-equity diluting grants, which will be used to further develop BeyondSpring's innovative drug pipeline. BeyondSpring received one in August 2017 from the city government of Dalian, China, and received the other on Sept. 30, 2017, from the Dalian Economic Development Park. In addition to the government's grant support, BeyondSpring greatly benefits from the new game-changing regulatory steps that the State Council of China announced on Oct. 8, 2017.
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EXAC | Hot Stocks08:45 EDT Exactech trading resumes
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QDEL | Hot Stocks08:37 EDT Quidel receives FDA clearance for Sofia Lyme FIA - Quidel Corporation announced that it has received 510(k) clearance from the United States Food and Drug Administration to market its Sofia Lyme FIA for the rapid differential detection of human IgM and IgG antibodies to Borrelia burgdorferi from serum and plasma specimens from patients suspected of B. burgdorferi infection. The test is intended for use with the Sofia analyzer to aid in the diagnosis of Lyme disease. Lyme disease is the most common tickborne disease in North America and Europe1. In the United States, Lyme disease is caused by the bacterium, Borrelia burgdorferi, transmitted through the bite of an infected blacklegged tick. The Sofia analyzer and Sofia Lyme FIA combine unique immunofluorescence chemistry, advanced lateral flow technology, and failure alert and fail-safe systems designed to ensure reliable, objective, diagnostic results within 10 minutes of application of the patient's specimen. The Sofia Lyme FIA is the first to provide differentiated results for both IgM and IgG on a single test.
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NETE | Hot Stocks08:37 EDT Net Element regains compliance with NASDAQ listing requirements - Net Element announces it regains compliance with NASDAQ listing requirements. As of October 20, 2017 the Company has evidenced compliance with the $1.00 bid price requirement insofar as the bid price for the company's common stock has closed at or above $1.00 per share for more than 10 consecutive business days; and the company has over $2.5 million in stockholders' equity.
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ETRM RSLS | Hot Stocks08:36 EDT EnteroMedics announces name change to ReShape Lifesciences - EnteroMedics (ETRM) announced that the company has formally changed its name to ReShape Lifesciences (RSLS). The new name, effective October 23, reflects the company's expansion and growth into a full-scale provider of medical devices to address the continuum of care for obesity and its associated health conditions.
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ENZ | Hot Stocks08:35 EDT Enzo Biochem receives NYS DOH's approval for AMPIPROBE panel - Enzo Biochem announced it has received approval of another women's health infectious disease diagnostic panel, which when combined with the company's previously approved panels, makes for one of the most comprehensive, efficient and affordable diagnostic products and services on the market. A variety of infections, including sexually transmitted ones, are detected from a single vaginal swab collection via the company's proprietary, versatile and cost-effective AMPIPROBE platform. The announcement results from recent action by the New York State Department of Health granting conditional approval of the new panel's 5 additional tests, complementing the already approved 8 infectious disease tests for a total of 13 organisms being detectable from a single vaginal swab specimen. Enzo's expanding women's infectious disease menu complements and continues Enzo's decades long offering of women's health tests including a focused cancer offering. In the early 1980s, Enzo brought the first in situ HPV cervical cancer detection system to the marketplace. Enzo's offerings have grown to include immunohistochemistry and gene expression platforms for detecting women's cancers. The latest infectious disease panel follows previously approved AmpiProbe real time amplification detection tests for qualitative detection of diseases such as Chlamydia trachomatis, Neisseria gonorrhoeae, Trichomonas vaginalis and Candida spp. The newly approved tests for bacterial vaginosis, including Atopobium vaginae, Gardnerella vaginalis, Lactobacillus spp, Megasphera spp and BVAB2, will now make Enzo's women's health panel one of the most comprehensive on the market.
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SRTS | Hot Stocks08:35 EDT Sensus Healthcare and Stratpharma announce collaboration - Stratpharma, subsidiary of Stratpharma AG, and Sensus Healthcare announced a new collaboration that's focused on advancing the treatment and healing of patients who are affected by skin cancer and keloids on a global scale. The initiative aligns the missions of both companies and encourages the sharing of knowledge and expertise within the industry. Through various advisory boards, continuing education and industry forums, the companies aim to demonstrate the patient and provider advantages of this first-of-its-kind treatment combination, pairing Sensus Healthcare's innovative SRT treatment with Stratpharma's proprietary StrataXRT and Stratamed wound care medical devices.
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SNES UNVR | Hot Stocks08:34 EDT SenesTech signs distribution agreement with Univar for ContraPest - SenesTech (SNES) announced a national distribution agreement with Univar (UNVR) for ContraPest. In addition to distribution, Univar will be marketing and selling ContraPest throughout its network.
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SHEN | Hot Stocks08:34 EDT Shenandoah announces resignation of CFO Adele Skolits - Shenandoah Telecommunications announced that Vice President and CFO Adele Skolits has informed the company that she is resigning effective November 7. Skolits has accepted the position of CFO of privately-held Buckeye Broadband in Toledo, Ohio. Her move to Toledo gives her the opportunity to live closer to family members, and an expected grandchild, who also live in the Toledo area. Current COO Earle MacKenzie will delay his announced retirement to assume the responsibilities of CFO on an interim basis. MacKenzie previously served as the CFO of the company from 2003 until Skolits took over that role in 2007. MacKenzie will continue his responsibilities with investor relations and business development for the company.
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CVLT... | Hot Stocks08:33 EDT Record registration for Commvault GO 2017 - Commvault (CVLT) announced record registrations for Commvault GO 2017, its annual customer conference. Booming registration for the conference follows a flurry of recent news and milestones that reinforce Commvault's leadership position in delivering enterprises solutions that enable them to activate and drive more value and business insight out of their data. This news includes new scale-out data infrastructure offerings, leadership positioning from independent research firms, further development of Commvault's partnerships with Microsoft (MSFT), Cisco (CSCO) and Oracle (ORCL).
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CERS | Hot Stocks08:33 EDT Cerus announces national German reimbursement for pathogen inactivated platelets - Cerus Corporation announced that the Institute for the Hospital Remuneration System in Germany will include pathogen-inactivated platelets for national reimbursement starting January 1, 2018. Pathogen-inactivated platelets will be reimbursed through ZE codes 164 and 165 and cover both platelet collection methods currently in use in Germany, apheresis and whole blood derived buffy coat platelets. The INTERCEPT Blood System is the only pathogen inactivation system currently approved in Germany for treatment of platelets. The national reimbursement codes for pathogen-inactivated platelets allow German hospitals to recoup the costs of INTERCEPT platelets at a premium price over untreated platelet units. With approximately 575,000 platelets produced each year in Germany, the German market is the largest in Europe. Four German Red Cross blood services manufacture approximately 45% of the platelets used each year. In total, there are approximately 60 blood banks and self-collecting university hospitals in Germany. In addition to enabling access to platelets with a reduced risk of disease transmission, reimbursement is also expected to improve access to increased shelf life for platelets. In 2008, the German National Blood Advisory Committee advised the German Ministry of Health that the shelf life of conventional platelet components should be shortened to four days to reduce the incidence of life-threatening septic transfusion reactions arising from potential bacterial contamination. Only pathogen-inactivated platelets, such as those treated with the INTERCEPT Blood System may be stored for five days, without additional interventions to reduce the risk of sepsis. The option to extend shelf life from four to five days is estimated to reduce platelet wastage rates by as much as 15-20%.
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FICO | Hot Stocks08:32 EDT Fair Isaac awarded eight new patents related to cybersecurity - FICO has been awarded eight new patents related to cybersecurity and advanced analytics. FICO now holds 183 US and foreign patents, and has 83 pending patent applications, including 16 that were filed in 2017. Three of the new patents relate to technologies developed for the FICO Decision Management Suite, FICO's integrated platform for developing and managing decision-making applications.
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BOH | Hot Stocks08:32 EDT Bank of Hawaii raises dividend to 52c per share from 50c - The company's Board of Directors has declared a quarterly cash dividend of 52c per share on the company's outstanding shares. The dividend will be payable on December 14, 2017 to shareholders of record at the close of business on November 30, 2017. The previous dividend was 50c per share.
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BSFT | Hot Stocks08:30 EDT BroadSoft trading resumes
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FLIR SEE | Hot Stocks08:27 EDT Flir Systems appoints Carol Lowe as CFO - FLIR Systems (FLIR) announced that Carol Lowe will join the company as Executive Vice President and Chief Financial Officer, effective November 27, 2017. Reporting to FLIR President and CEO Jim Cannon, Lowe will lead FLIR's global finance organization with responsibility over all financial operations, including reporting, controls, planning, and strategy. Since 2012, Lowe served as Senior Vice President and CFO at Sealed Air (SEE).
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KTCC | Hot Stocks08:25 EDT KeyTronicEMS trading halted, news pending
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CETX | Hot Stocks08:25 EDT Cemtrex trading halted, news pending
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EBAY | Hot Stocks08:23 EDT StubHub becomes designated 'NFL Ticket Resale Marketplace' - StubHub announced a multi-year agreement with the National Football League designating StubHub as the "NFL Authorized Ticket Resale Marketplace" beginning with the 2018-2019 season. With the NFL's recently announced open ticket marketplace, StubHub will be directly integrated with the primary ticketing systems of the League and its clubs, providing an official, safe and seamless way for fans to buy and sell NFL tickets on any digital device. The announcement represents the first time that the NFL has permitted an independent marketplace to integrate directly into the primary ticketing systems of its 32 clubs. StubHub, the world's largest ticketing marketplace, has the most ticketing integrations across the sports industry with exclusive partnerships with more than 90 teams across Major League Baseball, the NBA, NHL, MLS and dozens of leading NCAA school teams. NFL tickets sold on StubHub will now be officially validated by the primary issuer, giving fans an even more seamless and safe ticket-buying experience.
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MSDI | Hot Stocks08:20 EDT Monster Digital receives Nasdaq listing determination - Monster Digital announced that, as anticipated, on October 19, the company received a letter from the Listing Qualifications Staff of The NASDAQ Stock Market indicating that the company's non-compliance with the $2.5M stockholders' equity requirement will serve as a basis for delisting the Company's common stock from The Nasdaq Capital Market unless the company timely requests a hearing before the Nasdaq Hearings Panel.
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KTWO | Hot Stocks08:19 EDT K2M Group acquires PALO ALTO Cervical Static Corpectomy Cage System. - K2M Group announced that it has acquired from Cardinal Spine, a privately held medical device company, the PALO ALTO Cervical Static Corpectomy Cage System. PALO ALTO, a cervical vertebral body replacement device, is the first and only static corpectomy cage in the world to receive a cervical 510(k) clearance from the FDA. In addition to PALO ALTO, K2M has also acquired the associated intellectual property and product inventory. The PALO ALTO Cervical Static Corpectomy Cage System is indicated for use in the cervical spine in skeletally mature patients to replace diseased or damaged vertebral bodies, or for reconstruction to achieve decompression of the spinal cord and neural tissues in cervical degenerative disorders. It is intended for use with autograft or allogenic bone graft comprising cancellous and/or corticocancellous bone graft, as an adjunct to fusion.
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CWH | Hot Stocks08:18 EDT Camping World acquires America Choice RV - Camping World Holdings continues its rapid expansion of RV dealerships with announcing the planned acquisition of America Choice RV, in Central Florida. With Camping World Holdings' "side by side" strategy, Camping World will actively seek opportunities to acquire quality dealerships with strong management, brand recognition and a solid customer base in markets where Camping World has an existing presence. The acquired businesses will continue to be operated by Camping World under the legacy name. Camping World currently operates 14 full-service RV dealerships throughout the state of Florida. With the acquisition of America Choice RV in the greater Ocala area, Camping World plans to significantly expand its market footprint and presence in central Florida.
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EXAC | Hot Stocks08:16 EDT Exactech transaction values company at $625M
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EXAC | Hot Stocks08:16 EDT Exactech to be acquired by TPG Capital for $42 per share in cash - Exactech announced that it has entered into a definitive merger agreement under which TPG Capital, the global private equity platform of alternative asset firm TPG, will acquire all of the outstanding shares of Exactech common stock. Exactech's board of directors approved the agreement which provides for the payment of $42.00 per share in cash to all holders of Exactech common stock other than certain management stockholders who have agreed to exchange a portion of their shares for new equity securities in the transaction. Exactech founders Dr. Bill Petty and Betty Petty and CEO David Petty have agreed with TPG to vote all of their shares in favor of the merger and to exchange a significant portion of their shares for new shares in the parent entity immediately following the merger. Such share exchange will be made at the same $42.00 value being paid in cash to Exactech's shareholders. The transaction values Exactech at $625M and the cash purchase price represents a premium of approximately 31% over Exactech's closing stock price on October 20, 2017. Upon completion of the transaction, Exactech will be a privately-held company headquartered in Gainesville, Florida, and Exactech's common shares will no longer be listed on the NASDAQ stock exchange. The transaction is expected to close in the first quarter of 2018, subject to customary closing conditions, including approval by Exactech's shareholders and termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. "We believe that this agreement offers Exactech shareholders an opportunity to realize the company's tremendous growth and capture the value that's been created since going public 21 years ago, at a significant premium to the current share price," said Jim Binch, Exactech's lead independent director. Exactech CEO David Petty added, "This agreement provides maximum value for our shareholders, who have shared our vision and supported our growth over the past two decades."
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EXAC | Hot Stocks08:15 EDT Exactech enters agreement with TPG Capital to go private
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LII | Hot Stocks08:13 EDT Lennox CEO: Q3 'materially impacted' by hurricanes in Texas, Florida - "While underlying economic conditions remain strong, the third quarter was materially impacted by significantly cooler weather than a year ago and the near-term market disruption from the hurricanes that hit Texas and Florida," said Chairman and CEO Todd Bluedorn. "These dynamics negatively impacted the company's growth and margin performance in the quarter -- specifically for our residential replacement, commercial emergency replacement, and refrigeration wholesale businesses. That being said, the company posted record third-quarter revenue, total segment profit, and EPS."
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ARWR | Hot Stocks08:11 EDT Arrowhead presents preclinical data on development of ARO-AAT - Arrowhead Pharmaceuticals presented data from studies demonstrating promising preclinical safety and efficacy of ARO-AAT, a second-generation investigational medicine for the treatment of alpha-1 liver disease that leverages Arrowhead's subcutaneously administered Targeted RNAi Molecule technology. Based on these positive results, and pending completion of GLP toxicology studies, Arrowhead expects to file a clinical trial application in the first quarter of 2018 to begin first-in-human studies of ARO-AAT. The data were presented in a late breaking poster at the Liver Meeting 2017, the Annual Meeting of the American Association for the Study of Liver Disease, being held in Washington, D.C. The poster presentation, titled, "Subcutaneous delivery of a RNA interference therapeutic candidate for alpha-1 antitrypsin deficiency-related liver disease produces deep and prolonged knockdown of plasma AAT," highlighted the results of studies in which ARO-AAT produced deep and prolonged knockdown of alpha-1 antitrypsin to levels that appear to be near full suppression of the liver production. The efficacy of ARO-AAT was evaluated in the transgenic PiZ mouse model and in nonhuman primates by measuring the reduction in plasma or serum levels of AAT. Inhibition of synthesis and subsequent reduction of the mutant Z-AAT accumulation in the livers of patients with alpha-1 liver disease may lead to the prevention, and potential reversal, of liver injury. Preliminary safety of ARO-AAT was also assessed in rats and NHPs at dose levels up to and including 300 mg/kg, which is approximately 100 times the expected human clinical dose. In the rat study, clinical laboratory values were indistinguishable between groups receiving ARO-AAT and control groups. In addition, there were no histopathology findings deemed to be related to ARO-AAT. In the NHP study, there were no abnormal clinical observations, body weight changes, clinical chemistries, nor organ weight findings noted.
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VAR | Hot Stocks08:11 EDT Varian Medical announces first treatment using HyperArc radiotherapy - A 71-year-old eye cancer patient has become the first person in the UK, and among the first in the world, to be treated using HyperArc high definition radiotherapy, or HDRT, technology from Varian Medical Systems. Using HyperArc clinicians can deliver more compact radiation doses that closely conform to the size, shape, and location of tumors while sparing more surrounding healthy tissue. The treatment was delivered at the West of Scotland Cancer Center in Glasgow, one of the largest radiotherapy departments in Europe.
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LII | Hot Stocks08:11 EDT Lennox says 'well-positioned to close out a year of record revenue in 2017' - "Looking ahead for the company overall with the recovery in key regions underway, we are well-positioned to close out a year of record revenue, margin and profit in 2017 and to drive strong growth and profitability over the coming year."
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EXAC | Hot Stocks08:10 EDT Exactech trading halted, news pending
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CSIQ | Hot Stocks08:10 EDT Recurrent Energy announces commercial operation of Cumberland plant - Recurrent Energy, a wholly owned subsidiary of Canadian Solar announced the commercial operation of the 71 MWac/92 MWp IS-42 solar photovoltaic project, located in Cumberland County, North Carolina. The project has a long-term Power Purchase Agreement with Duke Energy Progress, and is capable of producing enough clean electricity to power more than 11,000 homes. In September 2017, Recurrent Energy entered into an agreement for the sale of 99% of its Class B membership interest in the project to Falck Renewables S.p.A., with closing expected in November.
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MA QCOM | Hot Stocks08:09 EDT MasterCard unveils AR shopping experience developed with Qualcomm - Mastercard (MA) unveiled an augmented reality shopping experience today that for the first time incorporates Masterpass and Identity Check Mobile with iris authentication for safe and seamless payments. Developed with Qualcomm Technologies, a subsidiary of Qualcomm Incorporated (QCOM), and ODG, it delivers photorealistic augmented reality and provides consumers the ultimate customized, security-focused shopping experience. This new AR experience from Mastercard will not only let shoppers view digital representations of products before they commit to a purchase, but also learn more about what they are buying, see additional options not available in the physical location and get instant recommendations or other information relevant to their unique experience. When done shopping, users can pay for items using Masterpass, which will first authenticate the user's iris using Qualcomm Technologies' iris authentication. The shopper then selects a card from their Masterpass-enabled wallet and completes the purchase by selecting the Masterpass button on the screen. Items can be taken home from the store or shipped, depending on availability.
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CSCO BSFT | Hot Stocks08:09 EDT Cisco to acquire BroadSoft for $55.00 per share or about $1.9B - Cisco (CSCO) and BroadSoft (BSFT) announced a definitive agreement for Cisco to acquire publicly-held BroadSoft, Inc., headquartered in Gaithersburg, MD. Pursuant to the agreement, Cisco will pay $55 per share, in cash, in exchange for each share of BroadSoft, or an aggregate purchase price of approximately $1.9B net of cash, assuming fully diluted shares including conversion of debt. The acquisition has been approved by the board of directors of each company. The acquisition of BroadSoft reinforces Cisco's commitment to Unified Communications and enhances its ability to address the millions of aging TDM lines poised to transition to IP technology and cloud native solutions over the coming years. The acquisition is expected to close during the first quarter of calendar year 2018, subject to customary closing conditions and regulatory review. Prior to the close, Cisco and BroadSoft will continue to operate as separate companies. Upon completion of the transaction, BroadSoft employees will join Cisco's Unified Communications Technology Group led by Vice President and General Manager Tom Puorro, under the Applications Group led by Trollope.
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SEM | Hot Stocks08:08 EDT Select Medical, Dignity Health to combine Concentra, U.S. HealthWorks - Select Medical Holdings and Dignity Health announced the signing of a definitive agreement to combine Concentra Group Holdings, an occupational medicine and urgent care service provider, with U.S. HealthWorks, a subsidiary of Dignity Health Holdings Company, also a service provider in this sector. This partnership will strengthen the delivery of care through greater access and standardization of best practices improving the health and wellness services for employers and employees. Subject to the satisfaction of closing conditions, the transaction will occur through an equity purchase and contribution agreement, whereby Concentra will acquire all of the issued and outstanding shares of stock of U.S. HealthWorks from DHHC. Following the closing of the transaction, Dignity Health will own a 20% equity interest in the combined entity holding Concentra and U.S. HealthWorks. The transaction values U.S. HealthWorks at $753M, subject to certain adjustments in accordance with the terms set forth in the Purchase Agreement. Dignity Health will receive a 20% equity interest in the combined entity, valued at $238 million, and the remainder of the purchase price in cash. In connection with closing the transaction, Concentra will also redeem certain of its outstanding equity interests from the existing minority equity holders, such that SMC will retain a majority voting interest in the combined entity following the closing of the transaction. The transaction, which is targeted to close in the first quarter of 2018, is subject to a number of closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
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AGEN | Hot Stocks08:08 EDT Agenus appoints Bruno Lucidi as CEO of AgenTus subsidiary - Agenus announced the launch of a subsidiary company for its cell therapy business, AgenTus Therapeutics. The subsidiary is focused on realizing significant value for both companies, enhancing business focus, speed, and efficiency toward the realization of breakthrough I-O "living drugs" to advance cures for patients with cancer. AgenTus will have licensed intellectual property assets from Agenus, its own management team and governance. Bruno Lucidi has been appointed as CEO of the AgenTus subsidiary. Lucidi brings more than 30 years of experience in the pharmaceutical, biotechnology and financial industries with an impressive track record of building businesses and introducing innovative products into therapeutic markets.
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SRDX | Hot Stocks08:08 EDT Surmodics announces first patient enrolled in Transcend trial - Surmodics announced enrollment of the first patient in TRANSCEND, the pivotal clinical trial for the SurVeil drug-coated balloon. The randomized trial will evaluate the SurVeil DCB for treatment for peripheral artery disease in the upper leg compared to a commercially available DCB treatment. Up to 446 patients will be randomized 1:1 to receive either the SurVeil DCB or Medtronic's IN.PACT Admiral DCB at approximately 60 U.S. sites and 18 sites outside the United States. The design of the Surveil DCB reflects Surmodics' long-standing industry leadership in the development of surface technology for vascular medical devices. The device includes a proprietary drug-excipient formulation for the balloon coating and is manufactured using a proprietary process to improve coating uniformity. Pre-clinical data have shown a three to five times higher target tissue drug concentration, a more evenly distributed and durable drug effect, and lower incidence of downstream drug particles compared to control DCBs. The objective of the Surveil DCB pivotal trial, TRANSCEND, is to evaluate the safety and effectiveness of the device for treatment of subjects with symptomatic PAD due to stenosis of the femoral and/or popliteal arteries. The clinical study will be used to support regulatory approvals and reimbursement. The primary efficacy endpoint of the trial is primary patency, defined as a composite of freedom from restenosis and clinically-driven target lesion revascularization through 12 months post-index procedure. All randomized subjects will be followed through 60 months post-index procedure.
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CSCO BSFT | Hot Stocks08:08 EDT Cisco to acquire BroadSoft for $55 per share or about $1.9B
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ADP | Hot Stocks08:07 EDT Pershing Square releases seventh question for ADP - Pershing Square released its seventh question for ADP. "ADP has yet to answer any of the first six questions we have asked. Today, Pershing Square released the following question: We understand that ADP has commissioned various consulting studies over recent years which have outlined substantial efficiency opportunities. Please outline for shareholders the conclusions of these studies. What corporate inefficiencies did these studies address - including management spans and layers, real estate consolidation, and ADP's siloed and outdated business unit structure - and what was the timing and the magnitude of the potential savings identified? Were these consulting studies shared with the Board? We ask that ADP respond to all of these questions so shareholders can better understand ADP's potential."
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FAT | Hot Stocks08:06 EDT Fat Brands begins trading on NASDAQ - FAT Brands is pleased to announce that its common stock will begin trading on the Nasdaq October 23 at approximately 11:00 a.m. EST under the three-letter ticker symbol "FAT." TriPoint Global Equities working with its online division BANQ grabbing FAT was the lead managing selling agent and sole book runner for the offering. FAT Brands made history by being the first Reg A+ Issuer listed on a National Securities Exchange to pay a dividend.
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LII | Hot Stocks08:04 EDT Lennox backs FY17 CapEx view approximately $100M - Reiterating corporate expenses of approximately $85M. Reiterating guidance for an effective tax rate of 31-32% on an adjusted basis for the full year. Reiterating capital expenditures of approximately $100M. Reiterating guidance for a weighted average diluted share count of 42-43M shares on a full-year basis.
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EIGR | Hot Stocks08:04 EDT Eiger says 'positive' Phase 2 interim LIMT HDV data presented at AASLD - Eiger BioPharmaceuticals announced that "positive" interim 24-week data with pegylated interferon lambda in the Phase 2 LIMT HDV Study presented at the American Association for the Study of Liver Diseases, or AASLD. At 24 weeks, ten of 33 patients reached 24 weeks of treatment at time of analysis. Five of 10, or 50%, patients achieved greater than or equal to 2 log decline in HDV RNA by Week 24. Four of 10, or 40%, patients achieved HDV PCR-negativity by Week 24. Lambda is well tolerated in the majority of patients through Week 24, the company added. "Interim 24 week results with Lambda in HDV are consistent with viral load endpoints that we believe should be meaningful in future regulatory discussions and study design to advance in clinical development. In addition to lonafarnib, our lead compound in Phase 2 development to treat HDV, Lambda represents a second product in our pipeline, with a differentiated mechanism of action, for development in HDV," said David Cory, President and CEO at Eiger.
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ARNC | Hot Stocks08:03 EDT Elliott Management 'strongly' supports Chip Blankenship as Arconic's next CEO - Elliott Management, which manages funds that are collectively the largest shareholder of Arconic, released a statement strongly supporting the hiring of Charles "Chip' Blankenship to become the next CEO of Arconic. In the statement, Elliott Senior Portfolio Manager Dave Miller also praised the appointment of John Plant to serve as the company's next Board Chair. Miller said, "Chip Blankenship is an excellent selection. After meeting with Chip and putting extensive time and resources into understanding both his background and Arconic's current opportunities and challenges, we enthusiastically recommended his appointment. Chip is a talented and hands-on operator who knows Arconic's core businesses exceedingly well. We have confidence that Chip will deliver the results and returns that Arconic is capable of producing, and we look forward to working constructively with him. "In addition, we are very pleased with the elevation of John Plant to Board Chair. Having followed John's career closely for many years, we have long felt that his track record of consistent shareholder value creation and focus on delivering results made him a great addition to the Arconic boardroom. We can't think of anyone better to lead the Board now and work with Chip to supplement Chip's deep aerospace experience with similarly deep experience in Arconic's other principal end market."
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XON | Hot Stocks08:03 EDT Intrexon and Arch Pharmalabs enter into exclusive collaboration agreement - Intrexon and Arch Pharmalabs announced they have entered into an exclusive collaboration to develop microbial strains for fermentation-based production of an API currently sourced from animals. Through the collaboration, Intrexon will be responsible for creative design of microbial pathways and engineering optimized microbes in a fermentation process that will generate a high yield and quality API at a substantially lower cost compared to current methods. Identification, design and engineering of the pathway and enzymes required will be accelerated through Intrexon's PathX proprietary bioinformatics software for pathway generation. Following this foundational work, Arch will focus on product isolation, scale-up and manufacturing and commercialization of the API.
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GE | Hot Stocks08:02 EDT GE names Deirdre Latour as senior advisor, Chief Communications Officer - GE announced that Deirdre Latour, chief communications officer for GE, will expand her responsibilities to also include serving as a company strategy and leadership advisor reporting directly to GE Chairman and CEO John Flannery effective immediately. Latour, who was named Chief Communications Officer in 2015, has led the company's external and internal communications strategy as it has transformed into a Digital Industrial Company. In this expanded role, she will continue those responsibilities while also serving on the company's senior leadership team.
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GE | Hot Stocks08:01 EDT GE names GE Ventures CEO Sue Siegel as Chief Innovation Officer - GE announced that Sue Siegel, CEO of GE Ventures, has been named Chief Innovation Officer for GE, effective immediately. As Chief Innovation Officer Siegel will be responsible for developing and accelerating GE's long-term innovation strategy and will report directly to GE Chairman and CEO John Flannery. In this role Siegel will continue to lead GE Ventures, which is comprised of equity investing, licensing and new business creation. She will also serve as a member of the company's capital allocation and portfolio management governance; and help expand the company's efforts to grow, incubate, and accelerate horizontal, adjacent and transformational businesses.
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KO | Hot Stocks08:01 EDT Coca-Cola: James Dinkins to succeed J. Alexander Douglas as president of CCNA - The Coca-Cola Company announced that J. Alexander "Sandy" Douglas Jr. will retire as President of Coca-Cola North America. He will be succeeded by James L. "Jim" Dinkins, who currently serves as President of the Minute Maid Business Unit and Chief Retail Sales Officer for CCNA.
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UIS | Hot Stocks07:56 EDT Unisys selected by the Nuclear Regulatory Commission - Unisys announced that it was selected for award of a task order to provide services and support to move the Nuclear Regulatory Commission's, or NRC, high-performance computing operations to a cloud platform. By moving its high-performance computing operations and applications to the cloud, the NRC will be able to securely and efficiently run critical, high-end applications without extensive upfront capital investments in IT resources.
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ARNC | Hot Stocks07:55 EDT Arconic names Eric Roegner EVP, group president of EP&S - Arconic announced business management changes to streamline and strengthen its operational executive leadership. The changes are effective immediately. Eric Roegner is appointed EVP and group president, engineered products and solutions. He succeeds Karl Tragl who will leave the company. Since his appointment in May as EVP and group president, global rolled products, roegner has significantly rationalized and strengthened the business, with overhead reductions expected to save $15M in 2018. Roegner was previously COO of EP&S, where he led the successful integration of the RTI acquisition and oversaw Arconic's jet engine business. Tim Myers is appointed EVP and group president, global rolled products and transportation & construction solutions. He was appointed EVP and group president, TCS in May 2016 and has led the Group to achieve five consecutive quarters of year-over-year EBITDA growth through June 2017.
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TMUS... | Hot Stocks07:54 EDT T-Mobile sees being only U.S. wireless carrier growing service revenues y/y - T-Mobile (TMUS) CEO John Legere says in a vlog that T-Mobile decided to do a video blog because "We wanted to make sure you all saw and focused on our Q3 results and not just on the rumors and speculation that fill the news everyday." He said the company expects to be the only U.S. wireless carrier growing service revenues y/y. Says service revenue up nearly 50% since 1Q13. Says T-Mobile "working around the clock" in Puerto Rico to get network up and running, as the hurricanes destroyed "vital" infrastructure. Expects to be first wireless provider with a nationwide 5G network. Says Verizon's (VZ) network "continues to struggle since we forced them to offer unlimited," says network "choking." Says AT&T (T) "not doing much better." Says "well on our way" to 3,000 new stores target for this year. Says many of the new stores in places where T-Mobile has never had a presence before. T-Mobile is up about 1.6% in premarket trading.
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BSFT | Hot Stocks07:52 EDT BroadSoft trading halted, news pending
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ARNC GE | Hot Stocks07:48 EDT Arconic names Charles Blankenship CEO - Arconic (ARNC) announced that its Board of Directors has appointed Charles "Chip" Blankenship as CEO and a member of the Arconic Board of Directors, effective January 15, 2018. Blankenship is a 24-year veteran of General Electric (GE) who spent much of his career in its aviation and jet engine businesses, including running its commercial engine operations. Blankenship previously led GE Aviation's Commercial Engines Operation, the world's leading producer of large and small jet engines for commercial aircraft. David Hess, who has served as Arconic's Interim CEO since April, will remain CEO until the start of Blankenship's tenure and will continue to serve on the Board after the transition. John Plant, an Arconic director since 2016, has been appointed Chair of the Board effective immediately. He succeeds Pat Russo, who stepped into the role on an interim basis in April; Russo will continue her service on the Board and chair the Governance committee.
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TMUS | Hot Stocks07:41 EDT T-Mobile CEO says 'once again had great quarter across the board' - T-Mobile CEO John Leger says in a tweet, "It's $TMUS Q3 earnings day! Once-again had a great QTR across the board! Best ever service revenues, strong net income & best ever for Adj. EBITDA! " Reference Link
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RETA | Hot Stocks07:41 EDT Reata Pharmaceuticals enrolls first patient in pivotal Part 2 of MOXIe trial - Reata Pharmaceuticals announced the enrollment of the first patient in the pivotal Part 2 of the MOXIe trial to evaluate omaveloxolone in patients with Friedreich's ataxia, or FA. Part 2 of the MOXIe trial is a double-blind, randomized, placebo-controlled, multi-center, international trial designed to evaluate the safety, tolerability, and efficacy of omaveloxolone in patients with FA. The trial will enroll approximately 100 FA patients randomized evenly to either 150 mg of omaveloxolone or placebo.
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EVOK | Hot Stocks07:39 EDT Evoke Pharma announces topline results from comparative exposure PK study - Evoke Pharma announced positive topline results from the company's comparative exposure pharmacokinetic, or PK, study. The trial was designed to demonstrate that a proposed dose of Gimoti, the company's patented nasal delivery formulation of metoclopramide for the relief of symptoms associated with acute and recurrent diabetic gastroparesis, has similar systemic exposure to that of the referenced listed drug, or RLD, Reglan Tablets. Based on the results, the company will submit a 505(b)(2) New Drug Application with a selected Gimoti dose to the FDA in the first quarter of 2018. The PK study was an open label, 4-way crossover and enrolled 108 male and female healthy volunteers who were each to receive one Reglan Tablet dose and three different doses of Gimoti in a random sequence. Following discussions at pre-NDA meetings with FDA, Evoke planned to select a Gimoti dose based on criteria that includes a 90% confidence interval for the ratio of area under the plasma concentration curve falling within the bioequivalence range of 80-125% of the RLD. Two of the three doses tested met the selection criteria. The maximum observed plasma concentration for Gimoti was slightly lower than the bioequivalence range, which had been previously discussed with FDA as a likely outcome given the different route of administration and prior Gimoti PK study results. Additionally, data showed the AUC and Cmax increased in a dose related manner across all three strengths tested. Relative to safety, all Gimoti doses were well-tolerated with no clinically significant adverse events reported following any of the doses.
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ENTA | Hot Stocks07:35 EDT Enanta announces 'positive' Phase 1 a/b clinical results for EDP-305 - Enanta Pharmaceuticals announced positive results from its Phase 1 clinical study of EDP-305, Enanta's lead FXR agonist for non-alcoholic steatohepatitis and primary biliary cholangitis. The objective of this double-blind, placebo-controlled study in adult healthy volunteer subjects and subjects with presumed non-alcoholic fatty liver disease was to evaluate the safety, tolerability and pharmacokinetics of single ascending dose and multiple ascending dose levels of EDP-305. Pharmacodynamic markers of FXR activity and lipids were measured in all dose groups. A total of 146 subjects received at least one dose of EDP-305 or placebo including 50 HV subjects in SAD and 96 in the MAD phases of the study. Overall, mean BMI in the PN cohort was 32. SAD had 6 cohorts at doses of 1, 5, 10, 20, 40 and 80 mg EDP-305/placebo, and MAD had 6 cohorts at doses of 0.5, 1, 2.5, 5, 10 and 20 mg EDP-305/placebo for 14 days. Strong FXR target engagement was demonstrated, with doses of EDP-305 greater than 1 mg increasing FGF19 and reducing C4 in all subjects, while PN subjects were even more sensitive with significant effects also observed in both parameters at the lowest multiple doses of 0.5 and 1 mg. Pharmacokinetic analysis revealed a PK profile suitable for once daily oral dosing. Dose proportional increases in exposure were observed, with median t1/2 from 11-23 hours in HV and from 10-18 hours in PN subjects following multiple doses. Longer t1/2 and more drug accumulation were observed following the multiple 20 mg dose compared to lower doses. No serious adverse events were reported, and EDP-305 was generally well tolerated at all doses tested. Treatment-emergent adverse events occurring in greater than or equal to 2 EDP-305 treated subjects in MAD cohorts were: headache and pruritus in HV subjects, and constipation and pruritus in PN subjects. Of the cases of pruritus noted, the majority were mild or moderate and occurred at multiple doses of 20 mg, with no cases below 10mg. Notably, EDP-305 demonstrated potent engagement of the FXR receptor across the lower dose range where there was no pruritus. Two subjects discontinued treatment in the MAD phase at the 20 mg dose level, one for a transient grade 2 ALT/AST elevation, and one for moderate pruritus. No dose-related changes in lipids were observed in HV subjects at any doses; and no dose-related changes in lipids were observed in PN subjects except for reductions of total cholesterol and HDL cholesterol at the multiple 20mg dose, with no concomitant increase in LDL cholesterol. These results support further clinical evaluation of EDP-305 in NASH and PBC patients. Enanta plans to present detailed results at a future scientific conference.
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KMB | Hot Stocks07:35 EDT Kimberly-Clark sees FY17 CapEx 'slightly below' $850M-$950M
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TMUS | Hot Stocks07:33 EDT T-Mobile raises low end of postpaid net custuomer adds view to 3.3M-3.6M - T-Mobile says, "We are raising and narrowing our postpaid net customer additions guidance to 3.3 - 3.6 million from 3.0 - 3.6 million. Net income is not available on a forward-looking basis. We are raising and narrowing our Adjusted EBITDA target for the second time this year to between $10.8 and $11.0 billion, up from the prior guidance range of $10.5 - $10.9 billion. Our Adjusted EBITDA target includes unchanged guidance on leasing revenues of $0.85 - $0.95 billion. The guidance for cash purchases of property and equipment, excluding capitalized interest, is unchanged at $4.8 - $5.1 billion, but we expect to be at the high end of the guidance range. The three-year CAGRs guidance for net cash provided by operating activities and Free Cash Flow from full-year 2016 to full-year 2019 also remains unchanged at 15% - 18% and 45% - 48%, respectively."
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KMB | Hot Stocks07:33 EDT Kimberly-Clark says Q3 a 'challenging environment' - Chairman and CEO Thomas J. Falk said, "We delivered bottom-line growth in the third quarter in a challenging environment. We also achieved $125 million of cost savings and reduced discretionary spending to help offset inflationary cost headwinds. In addition, we returned more than $500 million to shareholders through dividends and share repurchases. We are confirming our previous full-year 2017 outlook and we continue to execute our Global Business Plan strategies for long-term success."
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TMUS | Hot Stocks07:32 EDT T-Mobile sees FY branded postpaid phone ARPU 'generally stable' to FY16 - T-Mobile continues to expect that branded postpaid phone ARPU in full-year 2017 will be generally stable compared to full-year 2016, with some quarterly variations driven by the actual migrations to T-Mobile ONE rate plans, inclusive of Un-carrier Next.
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ZKIN | Hot Stocks07:32 EDT ZK International Group invited by Shenzhen Water Group - ZK International Group announced that the Pipe Network Division of Shenzhen Water Group Co. has invited ZK International to participate in drafting the product regulations and standards to be used in Phase II of the Community Pipeline Network Upgrade Program, or CPNUP. Shenzhen, one of the fastest growing cities in China, has already completed Phase I of the Community Pipeline infrastructure upgrade, to serve clean water to 3M residents. Z
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EGL | Hot Stocks07:31 EDT Engility wins $14M contract from Defense Intelligence Agency - Engility Holdings won a $14M contract with the Defense Intelligence Agency to provide in-depth multimedia analysis and reporting for intelligence community, defense, homeland security and law enforcement missions. Operated by DIA's National Media Exploitation Center, the Audio-Video Forensics Laboratory program also requires Engility to operate and maintain a virtualized environment that supports more than 30 research and development projects at DIA. The DIA's National Media Exploitation Center draws insights from multimedia files extracted from digital devices, such as location data from a personal navigation system. In addition to media support, Engility's virtualized IT infrastructure support will help the DIA's R&D projects gain access to enterprise-level technology and the benefits of cloud solutions such as scalability and security. Engility first won this contract in 2011. The new award has a one-year base and four option years.
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DEL | Hot Stocks07:27 EDT Deltic Timber jumps 7% in premarket trading after Potlatch deal announcement
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BIIB ESALY | Hot Stocks07:19 EDT Biogen, Eisai expand existing collaboration agreement - Eisai Co., Ltd. (ESALY) and Biogen (BIIB) said that the companies have expanded their existing agreement to jointly develop and commercialize investigational Alzheimer's disease treatments. Under the terms of the agreement Eisai has exercised its option to co-develop and co-promote aducanumab, Biogen's investigational anti-amyloid beta antibody for patients with Alzheimer's disease, The expanded agreement leverages each company's respective geographic strengths for commercialization and adjusts the respective share of profits from potential sales of aducanumab. Biogen will receive 55 percent of the potential profits in the United States and 68.5 percent of the potential profits in Europe. Eisai will receive 80 percent of the potential profits in Japan and Asia excluding China and South Korea. The companies will have a 50:50 co-promotion split of potential profits in the rest of the world. Further, Biogen will book sales in the United States, Europe, and rest of world markets while Eisai will book sales in Japan and Asia excluding China, South Korea. Biogen will continue to lead the ongoing Phase 3 development of aducanumab and will remain solely responsible for all development costs for aducanumab until April 2018. Eisai will then reimburse Biogen for 15 percent of expenses from April 2018 through December 2018, and 45 percent from January 2019 onwards. Neither party is making any upfront payments associated with the exercise of the aducanumab option. Furthermore, Eisai's and Biogen's respective milestone payments under the original agreement for aducanumab and BAN2401, an anti-Abeta protofibril antibody, have been eliminated. The companies will continue to jointly develop elenbecestat, a beta amyloid cleaving enzyme inhibitor, and BAN2401. The financial terms for elenbecestat and BAN2401 remain unchanged, other than the eliminated BAN2401 milestone payments. Additionally, Eisai and Biogen have agreed to co-promote Biogen's multiple sclerosis treatments, AVONEX, TYSABRI and TECFIDERA in Japan to those accounts that Biogen currently does not call upon. Eisai will also distribute and book sales for AVONEX, TYSABRI, TECFIDERA and PLEGRIDY in India and other Asia-Pacific markets excluding China.
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PCH | Hot Stocks07:18 EDT Potlatch raises dividend to 40c per share from 37.5c per share - Potlatch announced that its board has declared a dividend of 40c per share payable December 29, to stockholders of record on December 8. This is a 7% increase relative to the prior quarterly dividend of 37.5c per share.
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PCH | Hot Stocks07:17 EDT Potlatch reports Q3 EPS ex-items 94c, consensus 90c - Reports Q3 revenue $190.44M, consensus $190.45M.
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PCH DEL | Hot Stocks07:17 EDT Mike Covey to continue to serve as chairman and CEO of combined Potlatch, Deltic - The leadership team will comprise top talent from both companies. Upon closing of the transaction, Mike Covey will continue to serve as Chairman and CEO, and Eric Cremers will continue to serve as President and COO. John Enlow, currently President and CEO of Deltic, will serve as the company's Vice Chairman and will lead the integration of the two businesses. The Board of Directors of the combined company will comprise eight Directors from Potlatch and four Directors from Deltic.The corporate headquarters will be maintained in Spokane, Washington, with the southern operational headquarters located in El Dorado, Arkansas. BofA Merrill Lynch is serving as financial advisor and Perkins Coie LLP is serving as legal advisor to Potlatch. Goldman Sachs & Co. LLC is serving as financial advisor and Davis Polk & Wardwell LLP is serving as legal advisor to Deltic. The combination will result in approximately 933,000 acres in Arkansas and northern Louisiana, as well as sawmill capacity of 630 million board-feet within Arkansas. Operational synergies are expected to be achieved through expanded harvest volumes as well as increased lumber production. Both companies intend to maintain dividend payments through completion of the transaction and in a separate news release Potlatch has announced an increase of its annual dividend from $1.50 per share to $1.60 per share, beginning in the fourth quarter of 2017.
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PCH DEL | Hot Stocks07:16 EDT Potlatch, Deltic Timber to combine in all-stock transaction - Potlatch Corporation (PCH) and Deltic Timber Corporation (DEL) announced that they have entered into a definitive agreement to combine in an all-stock transaction. The combined company will be named PotlatchDeltic Corporation and its shares will trade on the Nasdaq Stock Market under the ticker PCH. Based on the closing stock prices of Potlatch and Deltic on October 20, 2017, the combined company is expected to have a pro forma equity market capitalization of approximately $3.3 billion and a total enterprise value of more than $4.0 billion, including approximately $700 million in net debt. Following completion of the transaction, the combined company will have more than 1,500 employees serving over 200 customers through operations across its extensive timberland and lumber manufacturing portfolio. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Deltic stockholders will receive 1.80 common shares of Potlatch stock for each common share of Deltic that they own. Following the close of the transaction, Potlatch stockholders will own approximately 65% of the combined company, and Deltic stockholders will own approximately 35% on a fully diluted basis. The agreement also provides for Deltic to convert to a REIT structure, effective at the closing date of the transaction, ensuring the combined company achieves the most efficient tax structure. As part of the REIT conversion process, Deltic's accumulated earnings and profits, which are estimated to be approximately $250 million, will be distributed to stockholders of the combined company through a dividend consisting of 80% stock and 20% cash by the end of 2018. The combined company expects to realize approximately $50 million after-tax cash synergies and operational efficiencies, driven by a combination of corporate and operational synergies. Increasing lumber production and harvest volumes comprise slightly over half of the estimated $50 million in synergies, while overhead cost savings and conversion to tax-efficient REIT status make up the remainder. Potlatch and Deltic expect run rate synergies to be achieved by the end of the second year, with additional opportunities over the longer term.
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PSTI | Hot Stocks07:15 EDT Pluristem receives European patent covering PLX-R18 - Pluristem Therapeutics announced that the European Patent Office has issued the company a patent titled, "Methods for Treating Radiation or Chemical Injury" for its PLX-R18 cell therapy. This important patent expands Pluristem's IP assets to include a new set of indications related to the bone marrow's inability to produce blood cells, such as acute radiation syndrome, autoimmune diseases such as aplastic anemia, genetic disorders, chemotherapy, radiation therapy, and side effects from other treatments.
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HAL | Hot Stocks07:14 EDT Halliburton CEO says 'North American business is hitting on all cylinders' - "We had a strong quarter and I am very pleased with our results. Our North American business is hitting on all cylinders and our international business proved resilient in a challenging environment. These results demonstrate why Halliburton is the execution company," remarked Jeff Miller, President and CEO.
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RDHL | Hot Stocks07:14 EDT RedHill Biopharma receives notice of allowance for new U.S. patent for RHB-104 - RedHill Biopharma announced that it has received a Notice of Allowance from the United States Patent and Trademark Office, or USPTO, for a new patent covering RHB-104 for relapsing-remitting multiple sclerosis, which is expected to be valid until 2032, once granted. RHB-104 is a proprietary, orally-administered, potentially ground-breaking, antibiotic combination therapy with potent intracellular, antimycobacterial and anti-inflammatory properties.
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USAP | Hot Stocks07:13 EDT Universal Stainless & Alloy announces favorable amendment of credit agreement - Universal Stainless & Alloy announced that it has obtained a favorable amendment to its current Credit Agreement that immediately lowers the company's interest rates on its senior bank borrowing by 75 basis points along with further improving its liquidity and flexibility. There have been no changes to the financial covenants, and the company remains in compliance with all covenants.
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NBIX | Hot Stocks07:13 EDT Neurocrine's Ingrezza granted FDA orphan status as Tourette syndrome treatment - Neurocrine Biosciences' Ingrezza was granted FDA orphan status as a treatment of pediatric patients with Tourette syndrome, according to a post to the agency's website. Reference Link
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MITK | Hot Stocks07:12 EDT Mitek Systems enters partnership with Asignio - Mitek announced a partnership with Asignio, a proprietary handwriting-based biometric authentication service, to provide a complete Identity-as-a-Service, or IDaaS, solution. Identity verification combined with biometric authentication provides a major growth opportunity for both Asignio and Mitek to enter new markets and explore new market verticals. Providing verified identity, secure authentication, and improved user experience all in one IDaaS package will help clients meet the security needs of their users while complying with new and upcoming regulations.
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STT | Hot Stocks07:12 EDT State Street: Outlook for rest of 2017 in line with Q2, improved from January - Says current outlook for rest of 2017 in line with 2Q17 and improved from January 2017 guidance. Sees FY17 total fee revenue growth at high end of 6%-7% range. Sees FY fee operating leverage at high end of 100-200bps range. Sees Beacon pre-tax net expense savings of at least $140M. Expects restructuring charges as Beacon continues to progress. Sees FY NII at high end of 12%-13% range, or $2.43B-$2.45B. NII assumes current interest rate expectations across the curve and currencies, which includes a late year rise in the U.S. Sees FY effective tax rate at low end of 30%-32% range. Says Beacon on track to achieve estimated annual pre-tax net run-rate expense savings of $550M by the end of 2020 for full effect in 2021. Guidance provided in Q3 earnings presentation slides.
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NVS | Hot Stocks07:11 EDT Novartis monoclonal antibodies granted FDA orphan status for CMV prevention - Novartis' human IgG1 anti-human cytomegalovirus monoclonal antibodies LJP538 and LJP539 were granted FDA orphan status for the prevention of congenital cytomegalovirus, or CMV, infection following primary CMV infection in pregnant women, according to a post to the agency's website. Reference Link
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MNKD | Hot Stocks07:11 EDT MannKind, BIOMM submit registration dossier to ANVISA - MannKind and BIOMM SA announced the submission of a registration dossier to ANVISA, seeking the approval of Afrezza inhalation powder in Brazil. The registration dossier includes recently updated prescribing information for Afrezza, incorporating new clinical data describing the rapid time-action profile of Afrezza.
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GDEN | Hot Stocks07:10 EDT Golden completes $850M acquistion of American Casino & Entertainment Properties - Golden Entertainment announced that it completed its previously announced acquisition of American Casino & Entertainment Properties for $850M from Whitehall Street Real Estate Partners 2007 in a cash and stock transaction. The acquisition of American Casino & Entertainment Properties brings to Golden Entertainment three properties in Las Vegas including the Stratosphere Casino, Hotel & Tower, Arizona Charlie's Decatur and Arizona Charlie's Boulder, as well as the Aquarius Casino Resort in Laughlin. These properties expand and strengthen Golden's presence in Nevada and the Las Vegas Locals market, while providing the Company with an iconic Las Vegas destination property. Golden now operates 16,000 slot machines, 114 table games and 5,162 hotel rooms across eight casino properties and almost 1,000 distributed gaming locations including the largest branded tavern portfolio in Nevada. The purchase consideration consisted of $781M cash and approximately four million shares of Golden Entertainment common stock. Golden financed the cash portion of the transaction and refinanced its existing credit facilities with a new $800M 1st Lien Term Loan and a $200M 2nd Lien Term Loan, as well as obtained a new $100M senior secured revolving credit facility to support the Company's future organic and strategic growth initiatives. Charles Protell, CFO of Golden, added, "The addition of the American properties to our portfolio firmly establishes Golden as a leading Nevada-focused regional gaming company with expected 2017 pro forma net revenues and adjusted EBITDA of $847M and $180M, respectively, which includes $18M of estimated run-rate synergies. We believe that our expanded asset base, strong operating discipline and ability to quickly realize synergies will result in increased free cash flow, allowing us to reduce leverage as well as reinvest in our existing businesses and new growth opportunities."
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GPRK | Hot Stocks07:07 EDT GeoPark announces JV agreement for Colombia area adjacent to Llanos 34 Block - GeoPark Limited announced the execution of a joint venture agreement related to certain exploration activities in a new high-potential exploration acreage in the Llanos Basin in Colombia, through a partnership with CEPSA Colombia S.A. The Tiple Block Acreage is located adjacent to GeoPark's prolific Llanos 34 block, where GeoPark has discovered more than 230M barrels of oil 3P gross, and increased production from zero to over 50,000 bopd gross in less than five years. The exploration area covers approximately 21,000 acres and has full 3D seismic coverage. The Agreement provides for GeoPark to drill one exploration well in the Tiple Block Acreage. In the event of a commercial discovery, GeoPark would acquire and operate 85% of the Tiple Block Acreage, subject to other contractual conditions being met. The well is scheduled to be drilled in the first half of 2018, with a total estimated investment of $7-8M.
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BABY | Hot Stocks07:07 EDT Natus Medical to be exclusive U.S. agent for Neonatal MRI device - Natus Medical Incorporated announced that it will be Aspect Imaging, Ltd.'s exclusive selling agent for the Embrace Neonatal MRI system in the United States. The Embrace Neonatal MRI System is designed specifically for imaging of the neonatal head. The Embrace Neonatal MRI System may be used on neonates with a head circumference up to 38 centimeters and weight between 1 and 4.5 kilograms. The system has a temperature-controlled incubator placed directly into the MRI system, minimizing movement of the baby. If urgent access to the baby is necessary during the imaging process, the baby can typically be removed from the system in less than 30 seconds. In addition to its exclusive agency agreement, Natus will also gain equity participation in Aspect Imaging, Ltd.
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VKTX | Hot Stocks07:07 EDT Viking Therapeutics announces results from VK0214 study - Viking Therapeutics announced positive results from a 25-week proof-of-concept study of VK0214 in an in vivo model of X-linked adrenoleukodystrophy. The final study data were presented in a poster presentation at the 87th Annual Meeting of the American Thyroid Association, or ATA, held October 18-22 in Victoria, British Columbia. The results of this study showed that treatment with VK0214 led to statistically significant reductions in plasma levels of multiple very long chain fatty acids, or VLCFAs, including the benchmark highly toxic C26 fatty acid, in treated animals compared with vehicle controls. VLCFA levels in CNS tissues were also significantly reduced, suggesting a potential direct benefit in both brain and spinal cord.
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ALPN GILD | Hot Stocks07:07 EDT Alpine Immune reports exension of research term of agreement with Kite - Alpine Immune Sciences (ALPN) announced it has extended the research term of its worldwide research and license agreement with Kite, a Gilead (GILD) company. The research collaboration and license agreement, initiated in October 2015, grants Kite an exclusive license to two Alpine programs from Alpine's Transmembrane Immunomodulatory Protein program. The license allows Kite to further engineer these candidates into chimeric antigen receptor and T cell receptor product candidates. The research term extension does not change the $535M in up front and potential regulatory milestones payable to Alpine in the original agreement or royalties Alpine may earn on potential future sales of Kite products incorporating Alpine's TIP technology. Kite will continue to have access to two programs from Alpine's TIP technology for use in CAR-T and TCRs during the extended research term.
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GBT | Hot Stocks07:06 EDT Global Blood Therapeutics discontinues IPF program - Global Blood Therapeutics announced the discontinuation of its GBT440 program for the treatment of idiopathic pulmonary fibrosis, or IPF. This decision is based on results from three proof-of-concept studies including a Phase 1 study in healthy volunteers called Basecamp and two Phase 2a studies in patients with IPF called GBT440-006 and ZEPHYR. GBT440 was generally well tolerated across all three studies, and no new safety signals emerged. In Basecamp, healthy volunteers who received GBT440 900 mg under hypoxic conditions demonstrated a statistically significant increase in oxygen saturation, confirming the mechanism of action of the drug in hypoxemia and demonstrating that GBT440 is a potent and effective hemoglobin modifier. In GBT440-006, adults with IPF and low oxygen levels during exercise who received GBT440 1,500 mg demonstrated a statistically significant but more modest dose-dependent improvement in oxygen-saturation. However, this increase in oxygen-saturation at the highest dose tested did not appear to be large enough to translate into clinically meaningful benefit based on multiple endpoints including oxygen dependency with exercise. In ZEPHYR, adults with more severe IPF who received GBT440 900 mg did not demonstrate improvement in oxygen saturation. Overall, these studies demonstrate proof-of-concept regarding improvement in oxygen saturation in healthy volunteers and patients with IPF. However, based on the totality of the data, GBT believes this improvement is unlikely to translate into a transformative clinical benefit for IPF patients. The company plans to present the full data for each of the three studies at a future medical meeting. GBT intends to make no further investments in additional clinical studies in hypoxemia with GBT440 and intends to stop further enrollment in any ongoing studies.
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AZN | Hot Stocks07:06 EDT AstraZeneca announces FDA approval of Bydureon BCise injectable suspension - AstraZeneca announced that the FDA has approved BYDUREON BCise injectable suspension, a new formulation of BYDUREON injectable suspension in an improved once-weekly, single-dose autoinjector device for adults with type-2 diabetes whose blood sugar remains uncontrolled on one or more oral medicines in addition to diet and exercise, to improve glycemic control. Across two clinical trials, average HbA1c reductions of up to 1.4% and average weight loss of up to 3.1 pounds were achieved when used as monotherapy or as an add-on to metformin, a sulfonylurea, a thiazolidinedione, or any combination of two of these oral anti-diabetic medicines at 28 weeks. The most common adverse reactions reported in greater than or equal to5% of patients in clinical trials were nausea and adverse events associated with injection-site nodules. BYDUREON BCise will be available for patients in the US in the first quarter of 2018. BYDUREON Pen will also remain available for patients. A regulatory application for the new autoinjector device has also been accepted by the European Medicines Agency.
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ONDK V | Hot Stocks07:06 EDT On Deck Capital announces agreements with Visa and Ingo Money - OnDeck (ONDK) announced agreements with Ingo Money and Visa (V) to enable real-time funding of loans to small businesses via their debit cards, powered by Visa Direct. OnDeck will be the first company in the online lending industry to offer real-time access to capital via a customer's existing small business debit card. The move by OnDeck comes in response to small business demand for improved cash flow and faster payment experiences.
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ONDK V | Hot Stocks07:05 EDT On Deck Capital announces agreements with Visa and Ingo Money - OnDeck announced agreements with Ingo Money and Visa to enable real-time funding of loans to small businesses via their debit cards, powered by Visa Direct. OnDeck will be the first company in the online lending industry to offer real-time access to capital via a customer's existing small business debit card. The move by OnDeck comes in response to small business demand for improved cash flow and faster payment experiences.
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OPB | Hot Stocks07:04 EDT Opus Bank reports Q3 EPS including items 54c, consensus 35c - Net income increased $2.3M, or 13%, to $20.5M for Q3 from $18.2M for Q2. Pre-tax pre-provision income increased $575,000, or 3%, to $22.6M for Q3 from $22M for Q2. Return on average assets increased to 1.09% for Q3 compared to 0.94% for Q2, and return on average tangible equity increased to 12.79% for Q3, compared to 11.89% for Q2 Our Tier 1 leverage ratio increased 70 basis points to 9.28%, Common Equity Tier 1 ratio increased 41 basis points to 11.01%, Tier 1 risk-based ratio increased 85 basis points to 11.45%, and total risk-based capital ratio increased 92 basis points to 15.00%. Tangible book value per as converted common share increased $0.59, or 4%, to $17.22 as of September 30, 2017 from $16.63 as of June 30, 2017, and has increased $1.38, or 9%, since December 31, 2016.
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STT | Hot Stocks07:04 EDT State Street reports Q3 estimated Basel III CET1 ratio 11.6% - Estimated Basel III common equity tier 1 ratio for 3Q17 was 11.6% and estimated leverage ratio increased to 7.4%, while delivering GAAP and operating-basis ROE of 13.0% and 13.4%, respectively.
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UFI | Hot Stocks07:03 EDT Unifi sees FY18 earning up in the mid-single digit percentage range - For fiscal 2018, the Company continues to anticipate: volume growth, assuming a stable raw material pricing environment; revenue growth in the low-single digit percentage range; operating income and earnings growth in the mid-single digit percentage range, excluding PAL; capital expenditures of approximately $35M; and an effective tax rate in the mid-20% range. The company added, "We continue to expect growth in both revenue and earnings during fiscal 2018. As we remain focused on combining recycling, innovation and technology with our superior supply chain capabilities, we are excited about our growth opportunities in fiscal 2018 and beyond."
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VFC | Hot Stocks07:02 EDT VF Corp. raises FY17 cash flow from operations view to about $1.5B from $1.45B
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JPM | Hot Stocks07:01 EDT JPMorgan unveils Finn by Chase bank in an app - Chase unveiled Finn by Chase,"a new all-mobile bank that gives consumers greater control of their everyday spending and saving - and happiness - through a completely mobile experience. Finn offers a new perspective on banking through customized tools that help consumers build savings and reflect on everyday spending, from a daily cup of coffee to a vacation with friends. Finn offers tools that let millennials: Rate purchases: Customers can rate transactions as something they "want" or "need," and assign emojis for how those purchases made them feel. Automatically build savings: Customers save by setting personal autosave rules on their terms, like saving $5 every time they go shopping. Set it and forget it! Stop overspending: Finn only lets customers spend what they have."
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VFC | Hot Stocks07:01 EDT VF Corp. CEO says Q3 results 'strong' - "VF's third quarter results were strong, fueled by accelerated momentum across the company's international and direct-to-consumer platforms and our Outdoor and Action Sports and Workwear businesses," said Steve Rendle, President and CEO. "Based on the strength of our third quarter performance and the stronger growth trajectory we see for the remainder of 2017, we are again increasing our full year outlook and making additional growth-focused investments aimed at accelerating growth and value creation into 2018 and beyond. VF remains committed to returning cash to shareholders as evidenced by the increase in our dividend, which is supported by the strength of our balance sheet and the confidence we have in our strategic growth plan."
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VFC | Hot Stocks06:59 EDT VF Corp. raises FY17 gross margin view to about 50% from 49.5% - Includes about a 50 basis point negative impact from changes in foreign currency. The Williamson-Dickie acquisition is expected to negatively impact gross margin by about 20 basis points.
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MRK AZN | Hot Stocks06:58 EDT Merck and AstraZeneca submitt NDA to Japanese Agency for Lynparza - AstraZeneca (AZN) and Merck (MRK) announced that they have submitted a new drug application, or NDA, to Japan's Pharmaceuticals and Medical Devices Agency, or PMDA, for the use of LYNPARZA tablets in unresectable or recurrent BRCA-mutated breast cancer, with a decision expected in the second half of 2018. The Japan NDA is based on the positive results from the Phase III OlympiAD trial published in the New England Journal of Medicine.
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VFC | Hot Stocks06:57 EDT VF Corp. raises quarterly dividend 10% to 46c per share - This dividend will be payable on December 18, 2017, to shareholders of record at the close of business on December 8.
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HIG | Hot Stocks06:54 EDT Hartford Financial suspends additional share repurchases under buyback program - Effective Oct. 13, the company suspended additional share repurchases under its $1.3B equity repurchase program. The company has repurchased approximately $1.027B of common shares during 2017 and has approximately $273M remaining under the current program, which expires Dec. 31, 2017. "The company expects to utilize the funds that would otherwise have been used for share repurchases over the balance of the year to help fund the acquisition of Aetna's U.S. group life and disability business, which is expected to close in early November. As a result of the acquisition, the company does not currently expect to authorize an equity repurchase plan for 2018," Hartford said.
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WYY | Hot Stocks06:53 EDT WidePoint announces new telecom lifecycle management contracts - WidePoint announced an additional $608,000 in TLM contract awards for work to be delivered in Federal Fiscal Year 2018. These task orders were awarded from multiple federal agencies including U.S. Customs & Border Protection, Administrative Office of the United States Courts, Overseas Private Investment Corporation, and additional funds issued to the U.S. Coast Guard pilot project.
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HIG | Hot Stocks06:53 EDT Hartford: 2017 likely to be highest catastrophe year for U.S. P&C in over decade - Hartford's President Doug Elliot said, "Based on activity year-to-date, 2017 will likely be the highest catastrophe year that the U.S. property and casualty industry has seen in more than a decade. Our catastrophe losses were largely consistent with the estimate we provided earlier this month, and our claims organization continues to perform at its best, handling multiple events across several states. We believe that our claims organization is one of our competitive advantages, and I am proud of the dedication and quality service that our team is providing to our policyholders. Excluding catastrophe losses, margins remain strong in Commercial Lines and Group Benefits. Personal Lines continues to demonstrate that the multiple profitability initiatives we have launched since late 2015 are gaining traction and improving our bottom line results."
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HAL | Hot Stocks06:53 EDT Halliburton reports Q3 International revenue $2.3B - International revenue in the third quarter of 2017 was $2.3B, a 4% increase sequentially, resulting primarily from increased activity across multiple product services lines in Latin America, and increased pressure pumping services and drilling activity in the Eastern Hemisphere. Latin America revenue in the third quarter of 2017 was $530M, a 4% increase sequentially, driven by increased activity in Argentina, higher production group activity in Brazil and increased drilling activity in Mexico. These results were partially offset by reduced well completion activity in Venezuela. Europe/Africa/CIS revenue in the third quarter of 2017 was $722M, a 6% increase sequentially, primarily due to improved utilization in the majority of our product services lines in the North Sea and improved drilling and well completion services in Russia and Nigeria. These results were partially offset by reduced activity in Angola. Middle East/Asia revenue in the third quarter of 2017 was $1B, a 3% increase sequentially, primarily resulting from increased drilling activity in the Middle East and project management activity in Indonesia, partially offset by reduced activity and pricing across Southeast Asia and lower project management activity in Iraq.
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LLY | Hot Stocks06:52 EDT Eli Lilly announces $72M investment in diabetes manufacturing in Indianapolis - Eli Lilly announced plans to invest $72M in an insulin manufacturing project at one of its Indianapolis facilities. The investment will be used to replace an existing insulin vial filling line and allow Lilly to meet growing demand for its insulins - including Humalog and Humulin - while upgrading to state-of-the-art technology and preparing for its insulin pipeline.
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MVC | Hot Stocks06:52 EDT MVC Capital to begin $25M cash tender offer in November - MVC Capital announced that the Board has approved commencement of a cash tender offer in November to purchase up to $25M of its common stock. The offer price per share will be determined prior to commencement of the offer based upon market and other factors.
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HAL | Hot Stocks06:51 EDT Halliburton reports Q3 North America revenue $3.2B - North America revenue in the third quarter of 2017 was $3.2B, a 14% increase sequentially, relative to a 6% increase in average U.S. rig count. This improvement was driven primarily by increased utilization and pricing throughout the United States land sector in the majority of our product service lines, primarily pressure pumping, as well as higher well completion and pressure pumping activity in Canada.
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HIG | Hot Stocks06:51 EDT Hartford Financial increases dividend 9% to 25c - The company declared a quarterly dividend of 25c per share of common stock, a 9% increase, payable on Jan. 2, 2018 to shareholders of record at the close of business on Dec. 1, 2017. This dividend will result in an adjustment to the exercise price of the outstanding warrants expiring June 26, 2019, and may result in an adjustment to the warrant share number. Adjustments will be posted to the Investor Relations section of The Hartford's website on or around Nov. 30, the company noted.
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CBU | Hot Stocks06:49 EDT Community Bank System reports Q3 provision for loan losses $2.3M - Community Bank System reports Q3 net charge-offs were $1.8M, compared to $1.5M for the Q3 of FY16 and $1.1M for the Q2. Net charge-offs as an annualized percentage of average loans measured 0.11% in the Q3, compared to 0.12% in last year's Q3 and 0.08% in the Q2. Nonperforming loans as a percentage of total loans at September 30, 2017 were 0.37%, improved from 0.47% at September 30, 2016 and generally consistent with 0.36% at June 30, 2017. The total loan delinquency ratio of 1.05% at the end of the Q3 was one basis point lower than the level at September 30, 2016, and six basis points higher than this year's second quarter-end. The Q3 provision for loan losses of $2.3M was $500,000 higher than the Q3 of FY16, and $900,000 higher than the Q3.
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HIG AET | Hot Stocks06:47 EDT Hartford Financial to acquire Aetna's Group Life And Disability unit for $1.45B - The Hartford (HIG) has entered into a definitive agreement to acquire Aetna's (AET) U.S. group life and disability business for cash consideration of $1.45B. This acquisition deepens and enhances The Hartford's Group Benefits distribution capabilities and accelerates the company's technology strategy. Aetna has several options for use of the proceeds of the transaction, including but not limited to internal investments to enhance the company's customer experience, share repurchases and repayment of debt. The acquisition is expected to close in early November 2017, subject to state regulatory approvals and other customary closing conditions. In addition, the deal enhances The Hartford's distribution footprint and includes an exclusive, multi-year collaboration in which Aetna will be offering The Hartford's group life and disability products through Aetna's medical sales team. The Hartford will pay Aetna cash consideration of $1.45 billion, primarily comprised of a ceding commission, to be paid by Hartford Life & Accident Insurance Company, the primary Group Benefits insurance operating subsidiary of The Hartford. Hartford Life & Accident will reinsure on an indemnity basis Aetna's book of group life and disability insurance, which had premiums of approximately $2 billion in 2016. Aetna projects the impact of the transaction to 2017 earnings per share to be immaterial given the timing of the transaction and slightly dilutive to 2018 earnings per share. The acquisition will be accretive to The Hartford's earnings in 2018 and will be funded by dividends from its insurance subsidiaries and holding company resources, including the $273 million remaining under the company's 2017 equity repurchase plan. The Hartford does not intend to issue debt or equity in order to fund the cash consideration for the acquisition and, as a result of the acquisition, does not currently expect to authorize an equity repurchase plan for 2018.
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EQT | Hot Stocks06:37 EDT EQT begins search for additional board members - EQT announced that it has commenced a search for two additional, independent board members with extensive midstream experience. The new board members will join the EQT Board immediately following the successful closing of the Rice Energy transaction and will serve on the Committee being formed to evaluate options for addressing the Company's sum-of-the-parts discount.
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INTT | Hot Stocks06:35 EDT inTEST announces retirement of CEO Robert Matthiessen and succession plan - inTEST Executive Chairman, President & CEO Robert E. Matthiessen has announced that he will retire from his positions as President & CEO at the end of 2017, after leading the organization for 20 years. Matthiessen will continue to serve as inTEST's Chairman of the Board. The Board of Directors has appointed James Pelrin as the Company's next President & CEO, effective January 1, 2018. Pelrin currently serves as Executive Vice President & Chief Operating Officer, and is a Director of the Company.
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HAS | Hot Stocks06:33 EDT Hasbro repurchased $92.9M of stock during Q3 - The Company paid $71.4M in cash dividends to shareholders during the third quarter 2017. The next quarterly cash dividend payment of 57c per common share is scheduled for November 15, 2017 to shareholders of record at the close of business on November 1, 2017. During the third quarter, Hasbro repurchased 947,300 shares of common stock at a total cost of $92.9M and an average price of $98.06 per share. Hasbro repurchased $111.5M worth of common stock during the first three quarters of 2017. At quarter-end, $216.5M remained available in the current share repurchase authorization.
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VICL | Hot Stocks06:33 EDT Vical reports cash and investments of $35.2M at September 30 - The Company's cash burn for the first nine months of 2017 was $6.9M, which was consistent with the Company's full year guidance of between $8M-$11M.
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TGT | Hot Stocks06:32 EDT Target gears up for holidays with free shipping and gifts under $15 - Target unveiled its plans for the holidays, including new brands, thousands of exclusive gifts under $15, easy and convenient ways to shop and save, and festive in-store experiences. Target previously shared that it is reimagining its brand portfolio with the introduction of more than 12 new exclusive brands by the end of 2018. Eight of those brands - spanning baby, kids, women and men's apparel and accessories and home - will be available for the first time this holiday season, offering guests unprecedented style and value. Most recently, Target introduced Project 62, A New Day, Goodfellow and JoyLab, and on Nov. 5, it will unveil the much-anticipated Hearth & Hand with Magnolia. Co-designed with Chip and Joanna Gaines, Hearth & Hand with Magnolia features 300 products, most for under $30, including tabletop, home decor and giftables, like a toy dollhouse and workbench, a letters to Santa mailbox, festive tableware and more. The collaboration with Target marks the couple's first time creating product with a retailer. "Target previously shared that it is reimagining its brand portfolio with the introduction of more than 12 new exclusive brands by the end of 2018. Eight of those brands - spanning baby, kids, women and men's apparel and accessories and home - will be available for the first time this holiday season, offering guests unprecedented style and value. Most recently, Target introduced Project 62, A New Day, Goodfellow and JoyLab, and on Nov. 5, it will unveil the much-anticipated Hearth & Hand with Magnolia. Co-designed with Chip and Joanna Gaines, Hearth & Hand with Magnolia features 300 products, most for under $30, including tabletop, home decor and giftables, like a toy dollhouse and workbench, a letters to Santa mailbox, festive tableware and more. The collaboration with Target marks the couple's first time creating product with a retailer. To make gift-giving even more foolproof, Target is introducing GiftNow on Target.com. This service allows gift givers to click the GiftNow button on products on Target.com and send an e-gift box, which allows the recipient to accept the gift, change the color or size, or choose something entirely different, all before anything ships. Target also is expanding its popular Wondershop seasonal brand, which was introduced in 2016." Also in time for the holidays, Target has increased the number of stores that ship online orders to guests' homes to more than 1,400, making the delivery process faster and more efficient for guests. In addition, Target.com will offer Free Ship to all guests beginning Nov. 1, with no minimum purchase required.
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HAS | Hot Stocks06:32 EDT Hasbro CEO calls U.K., Brazil environment 'challenging' - "The global Hasbro team delivered another good quarter. Our Brand Blueprint strategy is successfully driving the business despite a challenging economic environment in the U.K. and Brazil, as well as a short-term retailer disruption," said Brian Goldner, Hasbro's chairman and CEO. "As a result of the Toys"R"Us bankruptcy filing in the U.S. and Canada, there was a negative impact on our quarterly revenues and operating profit. However, our multi-platform content strategy, combined with an industry leading investment in innovation and an omni-channel commercial approach, is driving strong consumer takeaway heading into the holiday season as consumers engage with Hasbro brands across a multitude of experiences." "The quarter presented several obstacles, but the team delivered with higher revenue and earnings, as well as executing nearly $93 million of share repurchases," said Deborah Thomas, Hasbro's CFO. "We are well positioned for the holiday, including good quality inventory at Hasbro and at retail, backed by strong consumer momentum. We continue to work closely with Toys"R"Us as we head into the holiday period. Given our new view to the holiday based on Toys"R"Us and the economic outlook in certain markets, our updated expectation is fourth quarter revenues will increase in a range of 4% to 7% versus the fourth quarter 2016."
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AMZN ETSY | Hot Stocks06:31 EDT Amazon.com launches Amazon Handmade Gift Shop - Amazon.com (AMZN) announced the launch of the Amazon Handmade Gift Shop, a selection of thousands of giftable, handcrafted items for every holiday, milestone or occasion. Whether you are shopping for personalized jewelry, an anniversary or baby gift or custom decor for a holiday gathering, the Handmade Gift Shop has you covered. The Handmade Gift Shop features thousands of handcrafted products to make holiday shopping easier than ever before. The Fly notes Amazon Handmade Gift Shop will compete in the same space as Etsy (ETSY).
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GOOG GOOGL | Hot Stocks06:23 EDT Google launches simplified payment 'Pay with Google' service - Google is officially launching its simplified payment "Pay with Google" service. The system works with a number of partners, such as Fancy and Instacart, while others like Airbnb and Deliveroo are coming "soon." In a blog post, Pali Bhat, VP of Product Management, Payments, said, "If you've ever paid for something on your phone or tablet, you know just how frustrating checkout can be. Maybe you had to fill in a bunch of forms. Maybe your session timed out. Maybe you encountered an error and had to start all over again. Back in May, we shared a sneak peek of how paying with Google would help you skip all that. And starting today you can now speed through online checkout on many of your favorite apps and websites with a few quick clicks. When you pay with Google, you can use any of the credit or debit cards you've added to your Google Account from products like Google Play, YouTube, Chrome or Android Pay. Google sends the merchant your payment info and shipping address using the information from your account-no typing required. Then, the merchant will handle all the details just like any other purchase." Reference Link
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RLH | Hot Stocks06:20 EDT Red Lion Hotels selling Entertainment business - RLH has simplified and focused its business strategy over the past few months by selling its Entertainment business and has engaged CBRE to list for sale the majority of its hotel ownership interests. This refinement of the company's business strategy allows it to accelerate its evolution toward operating primarily as a franchise company. Its franchising business requires less capital to grow, provides higher profit margins and allows it to better leverage the excellent infrastructure and highly skilled employees over a larger franchise base. The sale of RLH Corporation's Entertainment business was completed on October 3, 2017. Although the sale of the Entertainment business required that the company disclose its results of operations as discontinued operations in the income statement, the company has determined that it is not necessary to revise 2017 earnings guidance as a result of the sale. As reported in its second quarter earnings report, its earnings guidance range for adjusted EBITDA is $22M-$23M for 2017 - guidance which remains unchanged despite the sale of the Entertainment business.
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UTHR | Hot Stocks06:05 EDT United Therapeutics announces FDA approval of TD-300/A for Tyvaso - United Therapeutics announced approval by the FDA of a new inhalation device, called the TD-300/A, for use with Tyvaso Inhalation Solution. Tyvaso was originally approved by the FDA for the treatment of pulmonary arterial hypertension, or PAH, in 2009, under a New Drug Application covering a drug-device combination product consisting of Tyvaso drug product, as well as an ultrasonic nebulizer and accessories referred to as the Tyvaso Inhalation System. Tyvaso is the most-prescribed inhalation therapy for PAH in the United States, and since its launch, United Therapeutics has been working on improvements to the Tyvaso Inhalation System to aid patient compliance and enhance ease of use. The TD-300/A is a significant step forward on that front. Designed based on patient and physician feedback, the new device has a cleaner, more ergonomic design that includes single button operation, an intuitive user interface for adjusting breath counts, a color, graphical display that leads patients through the inhalation process and displays time since last treatment, and an internal, rechargeable battery.
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SN | Hot Stocks06:04 EDT Sanchez Energy reports Q3 production up 43% vs. last year - Sanchez Energy announced operating results for the Q3. Highlights for the quarter include: production totaled approximately 6.8M barrels of oil equivalent, or MMBoe, or 73,783 barrels of oil equivalent per day, or Boe/d, which represents an increase of 43% over Q3 of FY16 production and is at the high end of the Company's guidance for the Q3 despite unprecedented levels of rainfall and flooding along the Gulf Coast and in South Texas associated with Hurricane Harvey and subsequent localized storms; three Lower Eagle Ford A and three Lower Eagle Ford B wells, which were brought on-line in the Briscoe Catarina West area of Comanche, in 250 foot staggered lateral spacing tests, are producing in-line with the Company's Lower Eagle Ford type curve; the success of the Lower Eagle Ford 250 foot staggered lateral spacing test during the third quarter 2017 doubles the Company's Lower Eagle Ford opportunity set, adding up to 800 gross Lower Eagle Ford well locations to the Comanche asset's drilling inventory; Eight Lower Eagle Ford wells with an average lateral length of approximately 7,500 feet were brought on-line at the Briscoe Cochina West area of Comanche, achieved an average 24-hour peak production rate of approximately 990 Boe/d, approximately 80% of which was oil.
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AMZN ETSY | Hot Stocks06:03 EDT Amazon.com launches Amazon Handmade Gift Shop - Amazon.com (ETSY) announced the launch of the Amazon Handmade Gift Shop, a selection of thousands of giftable, handcrafted items for every holiday, milestone or occasion. Whether you are shopping for personalized jewelry, an anniversary or baby gift or custom decor for a holiday gathering, the Handmade Gift Shop has you covered. The Handmade Gift Shop features thousands of handcrafted products to make holiday shopping easier than ever before. The Fly notes Amazon Handmade Gift Shop will compete in the same space as Etsy (ETSY).
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KBR | Hot Stocks05:56 EDT KBR books over $16M in contract variations in Australia - KBR announced that its global Government Services business, KBRwyle, has booked over $16M in contract variations for four of its acquisition and longer term sustainment services contracts with the Australian Department of Defence.
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APDN | Hot Stocks05:54 EDT Applied DNA Sciences signs new license agreement with Techmer PM - Applied DNA Sciences has signed a new CertainT trademark license agreement with Techmer PM, a respected producer of value added colors and additives for the plastic and fiber industries, and a long standing customer of Applied DNA's SigNature T molecular tags. Techmer's mission is to provide its customers with the best technical support in "problem solving designs for modifying the properties of base polymers." In the complex world of sustainability, Techmer has embraced Applied DNA's CertainT platform as a means to prove sustainable sources and ensure product integrity and supply chain transparency.
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HTHT | Hot Stocks05:48 EDT China Lodging declares special dividend of 16c per share/64c per ADS - China Lodging announced that its board has declared a cash dividend of 16c per ordinary share, or 64c per American Depositary Share. Holders of the company's ordinary shares or ADS at the close of trading on December 4, will be entitled to receive the cash dividend on or around December 15. The total amount of cash to be distributed for the special dividend is expected to be approximately $45M. As of June 30, the company had approximately $509M in cash, cash equivalents and restricted cash.
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NVS | Hot Stocks05:29 EDT Novartis receives FDA Breakthrough Therapy Designation for Tafinlar/Mekinist - Novartis announced that the FDA has granted Breakthrough Therapy Designation, or BTD, for Tafinlar in combination with Mekinist for the adjuvant treatment of patients with stage III melanoma with a BRAF V600 mutation following complete resection. Tafinlar in combination with Mekinist is in development to become the first adjuvant treatment specifically for melanoma patients with a BRAF V600 mutation.
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BA | Hot Stocks05:25 EDT Boeing, Mitsubishi Heavy reach agreement on cost reduction for 787 production - Boeing and Mitsubishi Heavy Industries announced an agreement to strengthen collaboration in ways that will enhance both companies' competitiveness. The agreement includes efforts to reduce costs in MHI production of wings for the 787 Dreamliner and joint studies of advanced aerostructure technologies for future-generation commercial aircraft. MHI manufactures 787 composite wings at its factory in Nagoya. The agreement aims to enable sales by pursuing increased efficiency in MHI's production system and its supply chain through lean production methods, automation and other activities.
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BAC | Hot Stocks05:24 EDT Merrill Lynch fined $45.5M in Britain for not reporting derivative transactions - Bank of America's Merrill Lynch International has been fined GBP 34.5M by the Financial Conduct Authority for failing to report 68.5M exchange traded derivative transactions between February 12, 2014 and February 6, 2016. "This is the first enforcement action against a firm for failing to report details of trading in exchange traded derivatives, under the European Markets Infrastructure Regulation (EMIR), and reflects the importance the FCA puts on this type of reporting," the British regulator said in a statement. Merrill Lynch agreed to settle at an early stage of the investigation and received a 30% reduction in its overall fine. Reference Link
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