Stockwinners Market Radar for October 24, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
ANTM | Hot Stocks19:00 EDT Anthem to acquire America's 1st Choice, terms not disclosed - Anthem announced that the company has entered into an agreement to acquire America's 1st Choice, a privately-held for-profit Medicare Advantage organization that offers HMO products, including Chronic Special Needs Plans and Dual-Eligible Special Needs Plans under its Freedom Health and Optimum brands in Florida. The company also operates America's 1st Choice of South Carolina. Financial terms of the transaction were not disclosed. The acquisition is expected to close in the first quarter of 2018 and is subject to approvals from state and federal regulatory authorities, standard closing conditions and customary approvals required under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to be slightly accretive to earnings in 2018.
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GTY | Hot Stocks18:43 EDT Getty Realty raises quarterly dividend 14% to 32c per share - Getty Realty announced that its board of directors unanimously approved an increase of 14% in the company's regular quarterly cash dividend to 32c per common share payable on January 4, 2018, to holders of record on December 21, 2017.
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ASB | Hot Stocks17:59 EDT Associated Banc-Corp EVP and chief audit executive Patrick Derpinghaus retires - Associated Banc-Corp announced changes involving its executive committee. Patrick Derpinghaus, executive vice president and chief audit executive, has announced his plans to retire March 1, 2018. In anticipation of Derpinghaus' retirement and succession, the company also announced that Matthew Braeger has accepted the position of executive vice president and deputy chief audit executive effective October 24, 2017. He will continue to report to Derpinghaus.
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FBMS | Hot Stocks17:44 EDT First Bancshares acquires Southwest Banc for $60M - The First Bancshares announced the signing of an Agreement and Plan of Merger with Southwest Banc Shares, parent company of First Community Bank, Chatom, Alabama, under which First Bancshares has agreed to acquire 100% of the common stock of Southwest in a combined stock and cash transaction. Under the terms of the Agreement and Plan of Merger, First Bancshares will pay shareholders of Southwest $60 million in transaction value with 60% in stock and 40% in cash. First Bancshares will issue Southwest's shareholders shares of the First Bancshares' common stock which, for purposes of this acquisition, will be valued at the average closing price of First Bancshares' common stock over the ten trading days preceding the fifth business day before the closing of the transaction, subject to a maximum of $36.54 per share and a minimum of $24.36.
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AKAM... | Hot Stocks17:35 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Akamai (AKAM), up 10.8%... iRobot (IRBT), up 5.4%... MKS Instruments (MKSI), up 4.3%... Regal Entertainment (RGC), up 3.7%... Capital One (COF), up 2.9%... TSYS (TSS), up 2.7%... Range Resources (RRC), up 2.4%. ALSO HIGHER: Whiting Petroleum (WLL), up 7.7% after it named Bradley J. Holly president and CEO. DOWN AFTER EARNINGS: Acadia Healthcare (ACHC), down 20.1%... AMD (AMD), down 10.9%... Manhattan Associates (MANH), down 9.9%... Chipotle (CMG), down 9.2%... Juniper (JNPR), down 6.4%... Edwards Lifesciences (EW), down 6.4%... Shutterfly (SFLY), down 3.8%... Discover Financial (DFS), down 3.5%... Nabors Industries (NBR), down 2%... AT&T (T) , down 1.6%. ALSO LOWER: Savara (SVRA), down 12.1% after it filed to sell common stock... Hutchison China MediTech (HCM), down 9.4% after it announced a proposed offering of ADSs... Idera Pharmaceuticals (IDRA), down 7.3% after it filed to sell $60M in common stock... Scorpio Bulkers (SALT), down 7.2% after it filed to sell 10M shares of common stock.
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MSM | Hot Stocks17:29 EDT MSC Industrial raises quarterly dividend to 48c from 45c - The dividend is payable on November 28, 2017 to shareholders of record at the close of business on November 14, 2017. The ex-dividend date is November 13, 2017.
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TWTR | Hot Stocks17:16 EDT Twitter to increase transparency for advertisements - Twitter announced steps to dramatically increase transparency for all ads on Twitter, including political ads and issue-based ads. The company will also be improving controls for customers and adopting stricter advertising policies. In the coming weeks, Twitter will launch an industry-leading transparency center that will offer visibility into who is advertising on Twitter, details behind those ads, and tools to share feedback. Specifically, the transparency center will show: all ads that are currently running on Twitter, including Promoted-Only ads, how long ads have been running, ad creative associated with those campaigns, ads targeted to you and personalized information on which ads you are eligible to receive based on targeting. To make it clear when users are seeing or engaging with an electioneering ad, Twitter will now require that electioneering advertisers identify their campaigns as such. Twitter will also change the look and feel of these ads and include a visual political ad indicator. Twitter will make these updates first in the U.S. and then roll them out globally.
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CMG | Hot Stocks17:10 EDT Chipotle sees Q4 adjusted G&A expenses relatively flat
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FLR | Hot Stocks17:07 EDT Fluor awarded $240M U.S. Army contract - Fluor Enterprises has been awarded a $240,000,000 contract to provide construction services for all aspects of restoration of electrical power to Puerto Rico. Nine bids were solicited with two bids received. Work will be performed in San Juan, Puerto Rico, with an estimated completion date of April 18, 2018.
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UMBF | Hot Stocks17:05 EDT UMB Financial raises quarterly dividend 7.8% to 27.5c per share - The cash dividend will be payable on January 2, 2018, to shareholders of record at the close of business on December 8, 2017.
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CMG | Hot Stocks17:05 EDT Chipotle: Roughly 15% of customers ordering Queso - Says roughly 15% of customers ordering Queso. Says SSS gained 4% after Queso launch. Says food costs will normalized just over 34% heading into Q4. Says raising prices in some restaurants. Says labor will continue to be a challenge heading into 2018 with higher wages and tighter labor market.
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RRC | Hot Stocks17:03 EDT Range Resources sees Q4 production 2,170 Mmcfe per day - This results in annual production growth of 30%., or organic growth of approximately 10%.
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CMG | Hot Stocks17:02 EDT Chipotle says working to integrate mobile payments in restaurants - Says working to integrate mobile payments in restaurants. Says renewed focus has company on the right path. Says four restaurants remain temporarily closed due to hurricanes. Says saw particularly high avocado prices in Q3 due to tropical storms.
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FFIN | Hot Stocks17:01 EDT First Financial names J. Michael Wilson CIO - First Financial Bancshares has elected J. Michael Wilson to the position of Executive Vice President and Chief Information Officer. He was also elected chairman, president and CEO of First Technology Services, Inc., a wholly owned subsidiary of First Financial Bankshares, Inc. In addition, Kevin Pilgrim has been promoted to Executive Vice President of First Technology Services, Inc. The announcement was made by the board of directors of First Financial Bankshares, Inc. and First Technology Services, Inc.
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MVIR | Hot Stocks16:59 EDT MultiVir receives FDA fast track designation for MIV-711 for the treatment of OA - Medivir AB announced that the U.S. Food and Drug Administration has granted Fast Track designation for the company's product candidate MIV-711, for the treatment of osteoarthritis. Previously announced results from a phase IIa study showed that MIV-711 demonstrated benefit on joint structure and thereby has the potential to act as a disease-modifying osteoarthritis drug. There are currently no disease-modifying therapies approved for the treatment of OA and all approved treatments affect only day to day symptoms and have no effect on the degenerative changes in the diseased joint.
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CMG | Hot Stocks16:54 EDT Chipotle says working on several new menu items - Says working on several new menu items. Says researchs shows customers like Queso offering. Says will open fewer new restaurants in 2018.
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PPC | Hot Stocks16:51 EDT Pilgrim's Pride to close Luverne facility which employs 200 people - Pilgrim's Pride announced that it will close its Luverne, Minn., poultry processing facility, which employs approximately 200 people, effective December 29. The decision to close the facility will allow Pilgrim's to shift production and equipment to more efficient operations to enhance synergies and better serve the company's key customers. Production capabilities at Luverne will be transferred to other nearby Company facilities. The facility closure will have no impact on the Company's overall production capacity.
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TNDM | Hot Stocks16:46 EDT Tandem Diabetes to provide new features for insulin pump to all warranty users - Tandem Diabetes announced that it will make any new features approved for the t:slim X2 Insulin Pump by the FDA in 2018 available to all in-warranty users at no cost through the Tandem Device Updater.1 Tandem and continuous glucose monitoring partner, Dexcom, also announced the extension of their existing joint welcome program for Animas customers from December 31 to March 31, 2018, matching the expiration date of Dexcom's program to that of Tandem's Touch Simplicity Today pump access program.
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AKAM | Hot Stocks16:45 EDT Akamai says traffic growth accelerated in Q3 - Says optimistic about media business, gaining market share. Comments from Q3 earnings conference call.
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CMG | Hot Stocks16:43 EDT Chipotle says entering Q4 with 'positive' sales trend - Says Q3 "no exception" to "challenging year." Says entering Q4 with "positive" sales trend. Says general manager, field manager roles "unclear." Comments taken from Q3 earnings conference call.
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COF | Hot Stocks16:43 EDT Capital One reports common equity Tier 1 capital ratio 10.7% at Sept 30
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AMGN | Hot Stocks16:42 EDT Amgen appoints Wanda Austin to Board Directors - Amgen announced the appointment of Wanda M. Austin to its Board of Directors, effective upon the December Board and committee meetings. Austin will serve as a member of the Board's Audit Committee and the Corporate Responsibility and Compliance Committee. Following the appointment of Austin, the Board will comprise 14 directors, 13 of whom are independent. Austin has served as an Adjunct Research Professor at the University of Southern California's Viterbi School of Engineering since 2007. She is the co-founder of MakingSpace, where she serves as a motivational speaker on STEM education.
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EW | Hot Stocks16:41 EDT Edwards Lifesciences says experienced 'minimal impact' from hurricanes - "We are pleased to report strong third quarter performance that delivered double-digit overall organic growth driven by robust sales of innovative therapies. Sales were in line with our expectations and were lifted by 20 percent global underlying growth in TAVR. And, we continue to aggressively pursue breakthrough structural heart therapies with the potential to drive significant future growth and help an even broader group of patients," said Michael A. Mussallem, chairman and CEO. "While we are assisting a number of our employees who were personally affected by the recent natural disasters, we were fortunate to have experienced minimal business impact."
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CMG | Hot Stocks16:39 EDT Chipotle authorizes stock repurchase of $100M - In a regulatory filing, Chipotle's board announced the authorized repurchases of its common stock with a total aggregate purchase price of $100M, exclusive of commissions. This repurchase authorization is in addition to previously-announced repurchase authorizations totaling $2.3B. The board's authorization of the repurchase program may be modified, suspended, or discontinued at any time.
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CQP | Hot Stocks16:38 EDT Cheniere Energy Partners increases dividend 1c to 44c - Cheniere Energy Partners declared a cash distribution per common and subordinated unit of 44c to unitholders of record as of November 3.
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CLSD | Hot Stocks16:37 EDT Clearside Biomedical completes patient enrollment in Phase 2 trial of CLS-TA - Clearside Biomedical announced completion of patient enrollment in the Phase 2 clinical trial of CLS-TA, Clearside's proprietary suspension formulation of the corticosteroid triamcinolone acetonide for suprachoroidal administration, used together with intravitreally administered EYLEA for the treatment of diabetic macular edema. Patient follow-up in the TYBEE trial is 6 months. DME is the most common cause of vision loss in people with diabetes mellitus. A consequence of diabetic retinopathy, DME is swelling in the area of the retina called the macula caused by leaking blood vessels. DME affects up to 30% of people who have had diabetes for 20 years or more, and if untreated, approximately 20 to 30% of people who have it will experience moderate visual loss.
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TGI | Hot Stocks16:33 EDT Triumph Group awarded 2-year contract with DLA valued at $22.9M - Triumph Group was recently awarded a two-year contract with Defense Logistics Agency Aviation valued at $22.9M to provide aftermarket spare rotary actuators for the main landing gear on the C-5 Galaxy aircraft used by the U.S. Air Force. Under the contract, Triumph Geared Solutions - Park City will supply the spare main landing gear rotary actuators to DLA Aviation based out of Robins Air Force base in Georgia for the C-5 Galaxy, which is one of the largest aircraft in the world.
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CULP | Hot Stocks16:32 EDT Culp, Inc. has not been able to reach pact for mattress fabrics business deal - Culp, Inc. provided an update on the company's acquisition activities. Franklin N. Saxon, president and chief executive officer of Culp, Inc., reported, "We previously announced a non-binding letter of intent for a proposed acquisition of a mattress fabrics business in China. We have not been able to reach a definitive agreement for this proposed acquisition, and that particular transaction currently is not expected to occur. Despite this development, however, the company remains committed to our mattress fabrics growth strategy in China. We believe increasing our sales of mattress fabrics and sewn covers in non-North American markets represents a strong opportunity for Culp. Growing our China-based operation can complement our current business model, and our substantial upholstery fabrics operations located in China provide us with a significant knowledge base to build upon. We will provide further updates as developments warrant."
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QUMU | Hot Stocks16:32 EDT Qumu CFO Goepfrich to leave - Qumu announced that CFO Peter Goepfrich will be leaving the company to join a private equity portfolio company, effective November 6. The company expects to identify a candidate to act as interim CFO in the short term. The company will also engage a search firm to recruit a successor CFO.
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WLL APC | Hot Stocks16:31 EDT Whiting Petroleum names Bradley J. Holly president, CEO - Whiting Petroleum (WLL) announced that Bradley J. Holly has been named President and Chief Executive Officer and a member of the company's Board of Directors, effective November 1, 2017. Holly previously served as Executive Vice President, U.S. Onshore Exploration and Production for Anadarko Petroleum Corporation (APC). Holly has been appointed in connection with the planned retirement of James J. Volker, who has served as Whiting's President and Chief Executive Officer since 2002. Mr. Volker will assume the role of Executive Chairman of the Whiting Board and will serve in that capacity until December 31, 2017. Mr. Volker will then serve as non-executive Chairman of the Whiting Board until the 2018 annual meeting of stockholders, at which time Mr. Holly will be appointed Chairman of the Whiting Board.
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CVS | Hot Stocks16:31 EDT CVS Health announces new pharmacy network anchored by CVS Pharmacy - CVS Healthy announced a new 30,000-store performance-based pharmacy network anchored by CVS Pharmacy and Walgreens, along with up to 10,000 community-based independently owned pharmacies across the United States. The network is designed not only to deliver unit cost savings, but also to improve clinical outcomes that will lead to lower overall health care costs for CVS Caremark pharmacy benefit management clients and their members.
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ASB | Hot Stocks16:30 EDT Associated Banc-Corp raises dividend 2c to 14c - Associated Banc-Corp declared a regular quarterly cash dividend of 14c per common share, payable on December 15 to shareholders of record at the close of business on December 1. This is an increase of 2c from the previous quarterly dividend of 12c per common share.
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CFNB | Hot Stocks16:30 EDT California First National Bancorp trading resumes
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GORO | Hot Stocks16:28 EDT Gold Resource announces 2017 Alta Gracia exploration drill results - Gold Resource announced drill highlights from its 2017 Alta Gracia drill program located in its Oaxaca Mining Unit, Mexico. Drill highlights include 1.29 meters grading 4.33 grams per tonne gold and 1,710 g/t silver, and 1.47 meters grading 2.29 g/t gold and 708 g/t silver. The 2017 Alta Gracia drill program intercepted multiple parallel high-grade gold and silver veins. The primary four vein structures were targeted for drilling because of the presence of numerous historic underground workings that previously exploited high-grade gold and silver. The 2017 drill targets were generated from previous drilling by the Company, as well as numerous chip sampling from underground workings. The data obtained from this year's drill program will be used to generate new drill targets for follow up in 2018, with a goal of defining additional mineralization to support future mining operations in conjunction with the Mirador Mine.
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MAC | Hot Stocks16:28 EDT Macerich raises quarterly dividend 4.2% to 74c per share - The dividend is payable on December 1 to stockholders of record at the close of business on November 10.
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LDOS | Hot Stocks16:27 EDT Leidos awarded prime contract by U.S. Army worth up to $728M - Leidos was awarded a prime contract by the U.S. Army to support the Afghanistan Air Force and Special Mission Wing helicopter and fixed-wing fleets. Work will be performed in Kabul, Afghanistan, with an estimated completion date of May 31, 2020 at a total potential contract value up to $728M.
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VIRT ICE | Hot Stocks16:27 EDT Virtu Financial to sell BondPoint to IntercontinentalExchange - Virtu Financial (VIRT) announced it has entered into a definitive agreement to sell Virtu's fixed income trading venue, BondPoint, to Intercontinental Exchange (ICE). The transaction is expected to be completed in Q1 of 2018, and the closing is subject to applicable regulatory reviews and approvals. Under the terms of the agreement, Virtu will receive $400M in cash upon the close of the transaction, the net after-tax proceeds of which will be used to repay a portion of Virtu's outstanding term loan.
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ROL | Hot Stocks16:26 EDT Rollins announces special cash dividend of 10c per share - Rollins announced that the Board of Directors declared a regular quarterly cash dividend on its common stock of 11.5c per share plus a special year-end dividend of 10c per share both payable December 11 to stockholders of record at the close of business November 10.
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HESM | Hot Stocks16:23 EDT Hess Midstream Partners raises quarterly distribution 3.6% to 31.07c per share - Hess Midstream Partners LP announced that the board of directors of its general partner declared a quarterly cash distribution of 31.07c per common unit for the quarter ended September 30, 2017. The distribution represents the Partnership's first distribution increase and a 3.6% quarterly increase compared to the Partnership's minimum quarterly distribution of 30c per unit. The distribution will be payable on November 13, 2017 to unitholders of record as of the close of business on November 3, 2017.
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TXN | Hot Stocks16:22 EDT Texas Instruments CEO: Demand strong in industrial, automotive markets - Regarding the company's performance and returns to shareholders, Rich Templeton, TI's chairman, president and CEO, made the following comments: "Revenue increased 12 percent from the same quarter a year ago. Demand for our products continued to be strong in the industrial and automotive markets. In our core businesses, Analog revenue grew 16 percent and Embedded Processing revenue grew 17 percent from the same quarter a year ago. Operating margin increased in both businesses. Gross margin of 64.5 percent reflected the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter Analog production. Our cash flow from operations of $4.8 billion for the trailing 12 months again underscored the strength of our business model. Free cash flow for the trailing 12 months was $4.2 billion and represents 29.0 percent of revenue. We have returned $4.3 billion to owners in the past 12 months through dividends and stock repurchases. In September, we announced we would increase our dividend by 24 percent and also increased our share repurchase authorizations by $6 billion, which together reflect our commitment to return all free cash flow to our owners."
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CAPL | Hot Stocks16:21 EDT CrossAmerica increases Q3 dividend 0.8% - CrossAmerica Partners announced that the board of its general partner has approved a quarterly distribution of 62.75c per unit attributable to Q3, representing a 0.8% increase in the Partnership's cash distribution per unit from 62.25c per quarter paid in Q2 and a 3.3% increase compared with the distribution per unit attributable to Q3 of 2016. The distribution attributable to Q3 is payable on November 13 to all unitholders of record on November 6.
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ICE VIRT | Hot Stocks16:20 EDT IntercontinentalExchange to acquire Virtu BondPoint for $400M in cash - Intercontinental Exchange (ICE) has entered into an agreement to acquire Virtu BondPoint from Virtu Financial (VIRT) for $400M in cash. The transaction is expected to close in the first quarter of 2018, and the closing is subject to applicable regulatory reviews and approvals. ICE will provide further details on its third quarter earnings call on November 2, 2017.
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EQM | Hot Stocks16:20 EDT EQT Midstream Partners boosts quarterly cash distribution to 98c - EQT Midstream Partners declared a quarterly cash distribution of 98c per unit for Q3. The distribution will be paid on November 14, to all EQM unitholders of record at the close of business on November 3. The quarterly cash distribution is 5% higher than the Q2, and 20% higher compared to Q3.
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EQGP | Hot Stocks16:19 EDT EQT GP boosts quarterly cash distribution to 22.8c - EQT GP declared a quarterly cash distribution of 22.8c per unit for Q3. The distribution will be paid on November 22, to all EQGP unitholders of record at the close of business on November 3. The quarterly cash distribution is 9% higher than the Q1, and 38% higher than Q2.
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JNPR | Hot Stocks16:19 EDT Juniper down over 4% after reporting Q3 earnings, giving Q4 guidance
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IRM | Hot Stocks16:17 EDT Iron Mountain boosts quarterly dividend 6.8% to 58.75c from 55c - Iron Mountain said that based upon the "continued demonstration of growth and durability of cash flows," its board declared a quarterly cash dividend of 58.75c per share fo4 Q4, up 6.8% from the Q3 dividend of 55c.
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SNY MYL | Hot Stocks16:17 EDT Sanofi files U.S. suit against Mylan to defend patent rights on Lantus Mylan - Sanofi (SNY) filed a patent infringement suit against Mylan N.V., Mylan GmbH, Mylan Inc., and Mylan Pharmaceuticals Inc (MYL) in the United States District Court for the District of New Jersey. Sanofi alleges infringement of 18 patents in its suit. The suit was triggered by notifications received from Mylan beginning in mid-September, in which Mylan stated that it had filed a NDA with the FDA for insulin glargine pre-filled pen and vial drug products. Mylan also stated that its NDA included a paragraph IV certification challenging all of the Sanofi patents then listed in the FDA Orange Book for Sanofi's Lantus and Lantus SoloStar products.
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RYTM | Hot Stocks16:15 EDT MPM Bioventures V reports 9.9% stake in Rhythm Pharmaceuticals
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NUVA | Hot Stocks16:14 EDT NuVasive announces $100M share repurchase program - NuVasive announced that its board approved a share repurchase program authorizing the purchase of up to $100M of the company's common stock over a three-year period commencing October 25. The company said, "NuVasive's Board of Directors strongly believes in the ability of the leadership team to execute against our strategic initiatives and position the company for continued growth and value creation. We are confident in our ability to fund long-term organic growth initiatives and improve operating profitability, while staying committed to disciplined capital deployment and to driving value for our shareholders."
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ESRX | Hot Stocks16:10 EDT Express Scripts says CFO Slusser leaving to pursue other opportunities - Express Scripts announced that James Havel, who previously served as Express Scripts' Executive Vice President, has been named Executive Vice President and Chief Financial Officer, effective October 25. Eric Slusser, Executive Vice President and CFO, is leaving the company to pursue other opportunities, but will stay with the company through Q1.
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BKCC | Hot Stocks16:09 EDT BlackRock Capital Investment CFO Milia to leave - BlackRock Capital Investment Corporation announced that Donna Milia, CFO for BlackRock Capital Investment Corporation, has decided to leave BCIC for personal reasons. Milia has agreed to remain with BlackRock Advisors, BCIC's investment advisor, through December 29. Michael Pungello, co-head of BlackRock's Global Alternatives Operations group assumed the interim CFO position effective October 20. Pungello is a member of BlackRock Business Operations as part of Global Fund Administration. Pungello is familiar with the accounting and operations of BCIC due to his position at BlackRock as well as his involvement in both the transaction leading up to BlackRock's purchase of BlackRock Kelso Capital as well as the integration following the March 2015 acquisition. In addition to his interim CFO duties, Pungello is also responsible for administrative support for various alternative products including hedge funds, hedge fund of funds, and private equity funds.
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ESRX | Hot Stocks16:09 EDT Express Scripts names James Havel as CFO, effective October 25 - Express Scripts announced that James Havel, who previously served as Express Scripts' Executive Vice President, has been named Executive Vice President and CFO, effective October 25. Eric Slusser, Executive Vice President and CFO, is leaving the company to pursue other opportunities, but will stay with the company through the first quarter of 2018 in order to ensure a smooth transition.
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CMG | Hot Stocks16:09 EDT Chipotle sees FY18 new restaurant openings 130-150 - "We continued to make important progress to improve the guest experience at our restaurants during the quarter," said Steve Ells, founder, Chairman and CEO of Chipotle. "Our strategic initiatives in operations, innovating our digital sales platform, new menu introductions, and marketing the brand are starting to take hold. Despite several unusual impacts during the quarter, including the impact of hurricanes, we maintained our focus and saw some encouraging signs. Our leadership remains focused on setting the foundation for future growth, and we are confident in our teams' ability to deliver against those plans."
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CNI | Hot Stocks16:09 EDT Canadian National announces buy back of up to 31M shares - CN announced that its board has approved the repurchase of its shares under a new normal course issuer bid and approved a Q4 dividend. The bid permits CN to purchase, for cancellation, up to 31M common shares, representing 4.9% of the common shares issued and outstanding of the company not held by insiders on Oct. 16. The bid - starting on Oct. 30 and ending no later than Oct. 29, 2018 - will be conducted through a combination of discretionary transactions and automatic repurchase plans through the facilities of the Toronto and New York stock exchanges, or alternative trading systems, if eligible, and will conform to their regulations.
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CMG | Hot Stocks16:08 EDT Chipotle sees FY17 comparable restaurant sales roughly 6.5% - Sees FY17 new restaurant openings slightly below the low end of 195-210.
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COF | Hot Stocks16:08 EDT Capital One reports Q3 net interest margin 7.08%, up 20 bps sequentially - Efficiency ratio of 51.07%. Net charge-offs of $1.6B.
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TNET | Hot Stocks16:07 EDT TriNet appoints Barrett Boston as Chief Revenue Officer - TriNet announced that Barrett Boston has joined TriNet as senior VP, Chief Revenue Officer. Boston brings sales leadership experience to TriNet and is a key addition to the company and its executive team. In his role, Boston leads the TriNet effort around acquiring new clients and managing the revenue growth and long-term relationships with existing clients.
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SUNS | Hot Stocks16:06 EDT Solar Senior Capital acquires North Mill Capital - Solar Senior Capital Ltd. announced that it acquired 100% of the equity interests of North Mill Capital. North Mill is a leading asset-based lending commercial finance company that provides senior secured asset-backed financings to U.S. based small-to-medium-sized businesses primarily in the manufacturing, services, and distribution industries. Solar Senior invested approximately $51M to effect the transaction. NMC is expected to distribute substantially all of its earnings to Solar Senior on a quarterly basis. Solar Senior anticipates its investment in NMC will generate a cash yield of approximately 11.0% and expects the acquisition to be immediately accretive to investment income in Q4. Based on NMC's existing portfolio, it is currently anticipated that the investment would generate investment income for Solar Senior in the range of $1.4M-$1.5M per quarter. Pro forma for the acquisition, Solar Senior's net leverage is expected to be approximately 0.5x debt-to-equity.
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T | Hot Stocks16:05 EDT AT&T reports 3M total wireless net adds in Q3 - AT&T reports U.S. wireless operating income margin of 30.5% with "best-ever EBITDA margins of 42.0% and wireless service margin of 50.4%." The company said it was its "best-ever third-quarter postpaid phone churn of 0.84%, showing the success of video and wireless bundling strategy." Reports 3.0 million total wireless net adds, including 2.3 million in U.S., driven by connected devices, prepaid and postpaid, and nearly 700,000 Mexico net adds.
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ESRX | Hot Stocks16:05 EDT Express Scripts raises 2018 expected retention rate for 2017 selling reason - Express Scripts said it is increasing its expected 2018 retention rate for the 2017 selling season, excluding the impact of the remaining Coventry business rolling off in 2017, to be above 95%. It said, "The Company's enterprise value initiative is currently estimated to cost approximately $600 million to $650 million and to deliver cumulative savings of nearly $1.2 billion by 2021. This initiative is expected to help the Company achieve its targeted compounded annual EBITDA growth rate for the Core business from 2017-2020 of 2% to 4% and drive significant value to all of its patients and clients beginning in 2018. The Company expects to formalize the plan for its enterprise value initiative by the end of 2017."
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CFNB | Hot Stocks16:04 EDT California First National Bancorp to delist from NASDAQ - California First National Bancorp announced that its Board of Directors approved the company undertaking to voluntarily delist its common stock from the NASDAQ Global Market and deregister its common stock with the SEC. The company's board unanimously approved the delisting and deregistration following the recommendation of a committee of the company's independent directors formed to consider the matter. The company notified NASDAQ of its intent to voluntarily delist and withdraw the registration of its common stock with the SEC. The company intends to file a Form 25 with the SEC on or about November 3. The company expects the last trading day for its common stock on NASDAQ will be on or about November 10. The company has made an application to have its shares quoted on the OTCQX Market, and following the NASDAQ delisting, the company expects its shares will be quoted on the OTCQX Market under the same symbol, "CFNB".
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TXN | Hot Stocks16:03 EDT Texas Instruments reports Q3 gross margin 64.5%
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SYK | Hot Stocks16:02 EDT Stryker acquires VEXIM - Stryker Corporation announced that it has acquired control of VEXIM, a French medical device company listed on the Euronext Growth stock exchange in France. Stryker indirectly acquired securities held by certain VEXIM shareholders and managers of VEXIM representing in the aggregate 50.7 % of the share capital and 50.3 % of the voting rights of the company, and 37.1 % of the outstanding BSAAR warrants. Stryker paid EUR 20.00 per share and EUR 3.91 per BSAAR warrant. This price represents an aggregated equity value of VEXIM on a fully diluted basis of approximately EUR 183M, which corresponds to an enterprise value of approximately EUR 162M. The transaction is expected to close Q4. The transaction is expected to be neutral to Stryker's 2017 adjusted net earnings per diluted share.
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CFNB | Hot Stocks16:00 EDT California First National Bancorp trading halted, news dissemination
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MNRO AMZN | Hot Stocks13:37 EDT Monro in talks with Amazon over tire installation service - Monro (MNRO) on its earnings conference call earlier today disclosed it is in talks with Amazon.com (AMZN) for a service to install tires that are purchased through the online retailer. Monro CEO Brett Ponton said on the call, "We are in discussions with Amazon currently right now. I have a tendency to move a little bit slower and methodical in that discussion for two reasons. One, I want to make certain that we have the technology capability lined up to deliver a good experience as we move into test. We want a good experience for the consumer, number one, and also a good experience with Amazon, number two. So we are in discussions with them. We're in process of building our capability to make certain that this experience can be seamless, which is requiring a little behind-the-scenes work from a technology point of view to make that happen." Monro shares are down 2% to $49.25 in afternoon trading following the company's Q2 results.
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CMCSA... | Hot Stocks13:35 EDT Hulu confirms CEO Hopkins to leave company, names Freer CEO - The board of directors of Hulu, a joint venture owned by Comcast (CMCSA), Disney (DIS), Time Warner (TWX), and 21st Century Fox (FOX), announced that CEO Mike Hopkins will be leaving the company and that Randy Freer has been named CEO. Freer, who currently serves on the Hulu board, has been president and COO of Fox Networks Group since 2013. Freer will be based at Hulu's headquarters in Los Angeles, and his appointment is effective Monday. Recode reported earlier that Mike Hopkins will head to Sony (SNE) to run Sony TV. Reference Link
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SWK... | Hot Stocks13:19 EDT Stanley Black & Decker says Lowe's to roll out Craftsman brand in 2H18 - On its earnings conference call earlier, Stanley Black & Decker (SWK) announced that it will roll out the Craftsman brand in the second half of 2018 with Lowe's (LOW) in the home center channel. "We have been more than impressed with the level of commitment and support afforded by Lowe's for the Craftsman brand," Jeffrey Ansell, the president of SWK's global tools and storage unit, adding that "We continue working with other channel partners to continue to provide them with successful programs to facilitate their growth as well." Stanley Black & Decker acquired Craftsman from Sears (SHLD) earlier this year. Stanley Black and Decker is up nearly 5% in afternoon trading to $165.87, while is up about 1%. Sears, meanwhile, is down over 5% to $6.22.
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GWW... | Hot Stocks13:18 EDT Grainger, Fastenal slide after Amazon extends Prime to business customers - Shares of both Grainger (GWW) and Fastenal (FAST) are slipping following Amazon (AMZN) announcing the launch of Business Prime Shipping in the U.S. and Germany. BUSINESS PRIME SHIPPING: Amazon Business has announced the launch of Business Prime Shipping, a paid annual membership program for registered multi-user business customers in the U.S. and Germany. In the United States, Business Prime Shipping offers unlimited free two-day shipping on eligible items for all users on an Amazon Business account. Amazon Business customers can sign up for an annual Business Prime Shipping membership based on the number of users on their business account: $499 for up to 10 users, $1,299 for up to 100 users, and $10,099 for over 100 users. PRICE ACTION: In afternoon trading, shares of Grainger have dropped about 4%, while Fastenal and MSC Industrial (MSM) have each fallen about 3%.
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ATVI | Hot Stocks13:01 EDT Activision's Destiny 2 now available on PC globally - Bungie and Activision Publishing, a wholly owned subsidiary of Activision Blizzard, delivered for the first time its action game Destiny 2 on PC across the globe today. The console game, released on September 6, was recognized as the best-selling console game of 2017 in the United States to date with less than one month of sales by The NPD Group yesterday, and now Destiny 2 PC is available exclusively on Blizzard Battle.net, Blizzard Entertainment's online-gaming platform, for digital distribution and at global retailers.
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HES... | Hot Stocks12:59 EDT Cooperman names Hess, Parsley, WPX as oil picks - Leon Cooperman of Omega Advisors is speaking on CNBC.
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GE | Hot Stocks12:58 EDT Cooperman says has not looked at General Electric shares - Leon Cooperman of Omega Advisors is speaking on CNBC.
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UAL SHPG | Hot Stocks12:57 EDT Cooperman says rather own United, Shire over cash 'any day of the week' - Leon Cooperman of Omega Advisors is speaking on CNBC.
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WFC C | Hot Stocks12:53 EDT Cooperman says owns 'some' Wells Fargo and Citi - Leon Cooperman of Omega Advisors is speaking on CNBC.
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CZR | Hot Stocks12:52 EDT Caesars says evaluating M&A options - In investor day slides, Caesars states the "resolution of bankruptcy and improved capital structure will enhance flexibility for M&A," adding that it is evaluating its M&A options. Among the "broad range of options" the company is pursuing are Las Vegas real estate development, global development in locations outside of the U.S. including South Korea, Japan and Brazil, traditional M&A and branding and licensing, according to the presentation slides.
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PCAR | Hot Stocks12:42 EDT Paccar sees 2018 gross margin 'comparable' to 2017 - For 2018, sees similar sales mix to 2017. Comments taken from the Q3 earnings conference call.
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ADP | Hot Stocks12:38 EDT Cooperman calls ADP CEO 'very good,' says company not complacent - Leon Cooperman of Omega Advisors is speaking on CNBC.
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ADP | Hot Stocks12:34 EDT Cooperman says Ackman a friend, but behavior regarding ADP 'terrible' - Leon Cooperman of Omega Advisors is speaking on CNBC.
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ADP | Hot Stocks12:33 EDT Cooperman reiterates Bill Ackman 'dead wrong' on ADP - Leon Cooperman of Omega Advisors is speaking on CNBC.
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ICE | Hot Stocks12:27 EDT IntercontinentalExchange announces strategic stake in Euroclear - Intercontinental Exchange announced it has acquired a 4.7% stake in Euroclear for EUR 275M. ICE anticipates having one representative join the Board of Euroclear, a provider of post-trade services, including settlement, central securities depositories and related services for cross-border transactions across asset classes. ICE Chairman and CEO Jeffrey Sprecher said, "Euroclear's infrastructure plays an increasingly important role as technology, collateral, risk management and regulation continue to drive an emphasis on post-trade services. This transaction demonstrates our continued focus on expanding our investments in mission critical clearing and risk management assets."
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UAL | Hot Stocks12:27 EDT Cooperman says United Continental remains a large position - Leon Cooperman of Omega Advisors is speaking on CNBC.
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UAL | Hot Stocks12:26 EDT Cooperman says United trading less than six times 2018 earnings - Leon Cooperman of Omega Advisors is speaking on CNBC.
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BKMU ASB | Hot Stocks12:26 EDT Bank Mutual shareholders vote to approve merger pact with Associated Banc-Corp - Bank Mutual (BKMU) announced that its shareholders, at a special meeting held earlier today, voted to approve the previously announced merger agreement providing for the merger of Bank Mutual with Associated Banc-Corp (ASB). Shareholders also voted, in an advisory vote, to approve certain compensation arrangements for Bank Mutual's named executive officers in connection with the merger. The merger transaction remains subject to regulatory approvals and customary closing conditions; the companies expect the transaction will close in early 2018.
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SPX | Hot Stocks12:09 EDT Cooperman says conditions for large market decline 'aren't present' - Leon Cooperman of Omega Advisors is speaking on CNBC.
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AMCX... | Hot Stocks12:06 EDT Cooperman names AMC Networks, Shire, Aetna as value picks - Leon Cooperman of Omega Advisors is speaking on CNBC.
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GOOG GOOGL | Hot Stocks12:05 EDT Cooperman says market fully valued, largest position is Alphabet - Leon Cooperman of Omega Advisors is speaking on CNBC.
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BBRG | Hot Stocks12:00 EDT TAC Capital: Bravo Brio executive suite 'remains unstable' - TAC Capital LLC sent an open letter to the board of Bravo Brio Restaurant Group saying it "continues to be disappointed by the performance of the board of directors and management of Bravo Brio Restaurant Group, particularly with respect to creating shareholder value and governing transparently. The sudden and unexpected departure of James J. O'Connor as CFO and the appointment of his replacement, Diane D. Reed, demonstrates that the executive suite remains unstable. While we hope that Ms. Reed's return to BBRG reflects a commitment to executing BBRG's strategic vision, we fear that it is more indicative of the return of an "old friend" to maintain the historically ineffective status quo. Our concerns are exacerbated by BBRG's failure to publicly disclose the results from its reported engagement of an investment banker earlier this year. Because of the executive turnover, the apparent lack of focus by the board on its duties to shareholders, and the classified structure of BBRG's board of directors, TAC Capital has serious doubts about our ability to meaningfully effectuate change by nominating directors for election at the 2017 Annual Meeting of Shareholders to be held on December 14, 2017. At most, TAC Capital's nominees would represent a minority vote on a consistently dysfunctional board. While we have declined to nominate directors at this time, we will re-evaluate the situation in advance of the 2018 annual meeting. In the meantime, we believe there are certain measures the board should take at the 2017 annual meeting to significantly improve governance and transparency. Thus, we call on the board to include the following matters for shareholder vote at the 2017 annual meeting: A proposal to remove the classified board structure currently in place and allow all directors to be elected by the shareholders annually; A proposal to require the election of directors by a majority vote of the shareholders, as opposed to a plurality; Finally, we believe the board should update BBRG's shareholders on the results of the process of engaging investment bankers to explore alternatives to enhance shareholder value as announced on February 2, 2017. Surely after eight months, the board has information it can report to the owners of BBRG on how it will create shareholder value."
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LMT | Hot Stocks11:59 EDT Lockheed Martin says contract timing led to Q3 sales to slip - Management said the company expects cash from operations growing by $400M vs. in 2017. Comments provided during Q3 earnings conference call.
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MDXG | Hot Stocks11:53 EDT MiMedx says new materials expose 'misinformation' disseminated by short sellers - MiMedx announced that it has posted additional materials on the company's website that "further expose the misinformation disseminated through short seller attacks." Reference Link
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CAT | Hot Stocks11:49 EDT Caterpillar says Q3 the 'high water mark' for CI segment margins - Sees "a little bit of improvement" for Energy & Transportation margins in Q4.
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AEP | Hot Stocks11:39 EDT American Electric raises quarterly dividend 5.1% to 62c per share - The Board of Directors of American Electric Power declared a regular quarterly cash dividend of 62c a share on the company's common stock, an increase of 5.1% from the previous 59c a share. AEP last increased its dividend in October 2016. The dividend is payable Dec. 8 to shareholders of record as of Nov. 10, and is the company's 430th consecutive quarterly common stock cash dividend.
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SHW | Hot Stocks11:37 EDT Sherwin-Williams says to start to see benefit of price increases starting in Q4 - Sees majority of of pricing benefit in 1Q18, but says some benefits may "lag" into Q2. Comments taken from the Q3 earnings conference call.
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AMZN | Hot Stocks11:32 EDT Amazon Business launches Business Prime Shipping in U.S., Germany - Amazon Business announced the launch of Business Prime Shipping, a paid annual membership program for registered multi-user business customers in the United States and Germany. In the United States, Business Prime Shipping offers unlimited FREE Two-Day Shipping on eligible items for all users on an Amazon Business account. Customers can sign up for a free 30-day trial. Amazon Business customers can sign up for an annual Business Prime Shipping membership based on the number of users on their business account: $499 for up to 10 users, $1,299 for up to 100 users, and $10,099 for over 100 users. Once the customer selects the appropriate membership, all users on the account will receive an email notifying them that Business Prime Shipping has been enabled. Any new user added to an existing Amazon Business account with Business Prime Shipping will be automatically enrolled in this membership.
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CAT | Hot Stocks11:28 EDT Caterpillar: Potential tax reform would be 'positive' for long-term - Expects higher material costs and period cost spend for targeted investments to negatively impact operating leverage in Q4. Sees FY Construction Industries sales for the year to be up about 20% vs. previous outlook of up 10%-15%. Sees FY Resource Industries sales up about 30% vs. previous 20%-25% outlook. Says forecast for new equipment sales has not changed. Sees FY Energy & Transportation sales up about 10% for FY vs. previous 5%-10% outlook. Says power generation industry "remains challenged," sees sales about flat to slightly up for FY. Says potential tax reform, infrastructure bill would be "positives" for the long-term.
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MCD | Hot Stocks11:24 EDT McDonald's says 'on track' to deploy mobile order & pay in 20,000 stores - Says remains on track to deploy mobile order & pay in 20,000 stores by year end. Says remains on track to offer delivery in 10,000 restaurants by year-end. Says McCafe can be significant growth platform for U.S. in the future. Says on track to offer delivery in 5,000 U.S. restaurants in partnership with UberEats by year-end. Expects to offer mobile order & pay in all 14,000 U.S. restaurants by year end.
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CAT | Hot Stocks11:20 EDT Caterpillar sees higher steel costs pressuring material costs - Says seeing increased order activity by mining customers. Notes that product availability is "a concern" in some areas, says working with supply chain to increase production levels to satisfy customer demand. Says working with supply base to reduce lead times. Sees higher steel costs putting pressure on material costs moving forward. Says Latin America, especially Brazil, remains "challenged." Says competitive environment in resource industry putting pressure on pricing for many products. Comments taken from the Q3 earnings conference call. Caterpillar is up 4.2% to $137.26 in late morning trading.
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CTSH | Hot Stocks11:16 EDT Cognizant to acquire Netcentric, terms not disclosed - Cognizant announced it has entered into an agreement to acquire Netcentric, a provider of digital experience and marketing solutions and an independent Adobe partner in Europe. "Netcentric's digital marketing teams in the United Kingdom, Netherlands, Switzerland and Germany, as well as regional delivery centers in Barcelona and Bucharest, will enhance Cognizant's ability to deliver business critical digital experience solutions for clients in Europe and around the world," the company stated. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of closing conditions, including German regulatory review. Financial details were not disclosed.
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MCD | Hot Stocks11:14 EDT McDonald's expects FY17 G&A costs down 7% - Says momentum continues to build across all segments. Expects G&A costs to be down 7% for full year, expects Q4 G&A costs to be similar to Q3. Expects FY effective tax rate 32%-33%. Expects Q4 positive impact of 4c-6c from foreign currency. Expects refranchising activity to have dilutive impact to EPS,revenue, expects it to negatively impact EPS a few cents per quarter until 3Q18. Says refranchising activity will grow operating margin. Comments taken from Q3 earnings conference call.
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HMNY | Hot Stocks11:10 EDT Helios and Matheson says MoviePass tops over 600K paying monthly subscribers - Helios and Matheson Analytics issued a corrected press release to announce that MoviePass, the movie theater subscription service that HMNY has agreed to buy a majority stake in, has surpassed over 600,000 paying monthly subscribers as of October 18, up from approximately 20,000 as of August 14, the day before MoviePass announced its new $9.95 per month subscription price. "The continued growth trajectory exceeded MoviePass' initial projections, and now MoviePass projects that it will acquire at least 3.1 million additional paying subscribers through August 18, 2018, exceeding its previous estimate of 2.5 million subscribers. HMNY also announced that MoviePass had a subscriber churn rate of 4.2% for month 1 and 2.4% for month 2 after announcing its new $9.95 per month subscription price. Based on current churn rates, monthly subscriber retention is above 96% and average paying monthly subscriber life expectancy is 46.8 months," Helios and Matheson states in the corrected press release.
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MDXG | Hot Stocks11:07 EDT MiMedx slides as Citron Research 'chimes in' with $3 price target - Shares of MiMedx (MDXG) are falling after noted short-seller Andrew Left of Citron Research issued a YouTube video discussing his view of the stock, stating that he believes the stock is in the "countdown to a formal investigation" and setting a $3 price target on the shares. In the YouTube video description, Citron writes: "Citron would not enter into a "noisy" name unless we can add insight into the short thesis and create a better-informed marketplace for mentioned stock." MiMedx, which has been the focus of a number of other short-selling firms recently, is down about 6% to $11.60 in morning trading following Citron's video release. Reference Link
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MDXG | Hot Stocks11:04 EDT Citron sees 'countdown to formal investigation' at MiMedx, sets $3 target - Reference Link
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HPE... | Hot Stocks11:01 EDT Greenlight bought HP Enterprise, closed Best Buy short during Q3 - In its quarterly letter to investors, David Einhorn's Greenlight Capital said it bought HP Enterprise (HPE), Micron Technology (MU) and Tempur Sealy (TPX) during the third quarter. The letter, obtained by Bloomberg News, also states the fund closed its short position in Best Buy (BBY) and long position in PVH Corp. (PVH). Greenlight's largest positions at the end of the quarter, unchanged from Q2, were AerCap (AER), Bayer (BAYRY), Consol Energy (CNX), General Motors (GM) and gold.
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IBCP | Hot Stocks10:58 EDT Independent Bank raises quarterly dividend 20% to 12c per share - Independent Bank announced that its Board of Directors declared a quarterly cash dividend on its common stock of 12c per share, a 20% increase from the previous level of 10c per share. This dividend is payable on Nov. 15, 2017 to shareholders of record on Nov. 6, 2017.
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MU PSTG | Hot Stocks10:46 EDT Micron's reported flash partnership shake-up fuels M&A speculation - Commenting on an article from The Register indicating that Micron (MU) is reportedly parting ways with its all-flash array, or AFA, software partner Excelero, Susquehanna analyst Mehdi Hosseini told investors that the news could catalyze the company to revisit a larger-scale acquisition of a proven AFA player with firmware-software expertise like Pure Storage (PSTG). PRODUCT NOT FOUND: Over the weekend, The Register, a U.K.-based IT blog, said that Micron has put is SolidScale all-flash array product "into web site limbo." However, it might "not be dead." The SolidScale scale-out all-flash array was announced in May, and used NVMe SSDs, had an NVMe over Fabrics access link and was powered by Excelero's NVMesh server SAN software, the publication added, noting that the SolidScale section has also disappeared from Excelero's website. "Micron is aligning the go-to-market and fulfillment process for its Micron SolidScale architecture to the company's established Micron Accelerated Solution process and will no longer market directly under the Micron SolidScale brand. [...] The configuration that SolidScale supported will now be marketed as Micron Accelerated Solutions built with Excelero NVMesh," a Micron spokesperson was quoted as stating. Further, the company also acknowledged that the head of Micron's storage division has resigned. MICRON SEEN REVISITING M&A OPTIONS: Following The Register's article casting doubt over the health of Micron's partnership with Excelero, Susquehanna's Hosseini told investors that the news could catalyze Micron to revisit a larger-scale acquisition of a proven AFA player with firmware/software expertise like Pure Storage. Further, the analyst noted that such a chain of events, namely the head of Micron's storage division resignation after just one month, both companies deleting their respective SolidScale webpages, and the realignment/rebranding of SolidScale under Micron's Accelerated Solutions offering, points to the need for "surgical M&A." If Micron is indeed moving in a different direction, this leaves a "void to be filled in its goal of moving up the stack," Hosseini contended, while noting that Pure Storage's FlashBlade and FlashArray dovetail well with Micron's goals, as they use raw NAND modules and NVMe interconnect. Additionally, the analyst argued that Micron could extend Pure Storage's cost structure lead, and cost structure advantages would yield better positioning with hyperscale customers, who are increasingly bypassing traditional hardware OEMs to assemble their own systems. Because SolidScale was slated for volume production in 2018, Micron may feel pressured to identify a new partner sooner rather than later, he said. PRICE ACTION: In morning trading, shares of Micron are fractionally up to $41.63, while Pure Storage's stock has gained almost 3% to $16.27.
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FB | Hot Stocks10:38 EDT Facebook introduces News Feed publisher guidelines - Adam Mosseri, Head of News Feed at Facebook, said "In response to this feedback, today we are releasing News Feed Publisher Guidelines, which include 'do's and don'ts' to help publishers succeed on our platform. As an extension of the Publisher Principles we released in May, we developed these guidelines with social media teams in mind and in consultation with publishers. We will continue to update the guidelines in collaboration with our partners so they can reach their audiences on Facebook." Reference Link
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HMNY NFLX | Hot Stocks10:34 EDT Helios and Matheson jumps as MoviePass exceeds initial projections - Shares of Helios and Matheson Analytics (HMNY) jumped in morning trading after the company said its MoviePass theater subscription services surpassed over 600,000 paying monthly subscribers this month. MOVIEPASS EXCEEDING PROJECTIONS: Helios and Matheson, a majority owner of MoviePass, said this morning that the subscriber base for the movie theater subscription service surpassed 600,000 paying monthly subscribers as of October 18, compared to about 20,000 as of August 14. The company said the continued growth has exceeded initial expectations. The company also said that its subscriber churn rate has been shrinking, to 2.4% in month two from 4.2% in month one. Based on current churn rates, MoviePass said monthly subscriber retention is above 96% and average paying monthly subscriber life expectancy is 46.8 months. "Month after month we aim to improve our service with faster card delivery, improved application updates, and an easier-to-use web site. We believe our strategy is paying off in terms of increased satisfaction, reduced churn, and faster growth," MoviePass CEO Mitch Lowe said in a statement. "When you apply computer science and machine learning to an industry that we believe has lacked significant innovation, useful patterns start to emerge," said Helios and Matheson Chairman and CEO Ted Farnsworth. WHAT'S NOTABLE: On August 15, Helios and Matheson announced that it had entered into a definitive agreement to acquire a majority stake of MoviePass, which is led by Lowe, a Netflix (NFLX) co-founder and former Redbox president. Helios and Matheson also introduced a new monthly movie ticket subscription of $9.95, allowing customers to get in to one showing every day at any theater in the U.S. that accepts debit cards for about the price of a single ticket each month. The following month, MoviePass subscribers rose to over 400,000 from less than 20,000. Earlier this month, Helios and Methson increased its ownership stake in MoviePass to 53.71% from 53%. Helios and Matheson Analytics shareholders still have to approve the company's purchase of its majority stake in MoviePass. Following the price cut to $9.95, MoviePass said its website was overwhelmed by the volume of traffic from interested customers, forcing some theatergoers to wait almost a month before their passes arrived in the mail. At the time, Lowe said he "totally underestimated demand," but the company boosted its team to 35 to deal with the backlog. CITRON, STREETSWEEPER CAUTIOUS: Some are cautious on Helios and Matheson as shares have jumped over 1000% since announcing the acquisition of a majority stake in MoviePass. Citron Research tweeted on October 11 that Helios and Matheson's stock will "trade back to $20 Retail investors are warned. You might like product but $1+bill it isn't. Giving away $1 for .90 no biz." A day later, Citron tweeted that "Don't like to stay short companies that are expected to lose money high borrow $ hit tgt price in one day. all timing." Helios and Matheson has also been mentioned cautiously by TheStreetSweeper. PRICE ACTION: Helios and Matheson, while off earlier highs, is still up about 9% in morning trading to $14.53.
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JBLU | Hot Stocks10:28 EDT JetBlue expects CASM ex-fuel up 5%-7% in Q4 - Expects Q4 capacity up 4.5% to 5.5%, FY17 capacity up 4% to 5%. Expects Q4 RASM to decline 3% to 0% with a one to two point impact from storms. Says remains focused on long-term revenue initiatives. Says continues to balance investments with long-term margin goals. Expects FY17 effective tax rate of 37%. CASM excluding fuel is expected to grow between 5% and 7.% for Q4, 4% to 5% for FY17. Expects Q4 fuel price $1.83. Expects full run-rate savings between $250M-$300M. Says 'comfortable' with liquidity and leverage. Expects Q4 capex of $420M, FY17 capex $1.06B-$1.11B.
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CAT | Hot Stocks10:20 EDT Caterpillar sees FY restructuring costs of $1.3B vs. previous outlook of $1.2B - Comments from slides that will be presented on the Q3 earnings conference call.
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JBLU | Hot Stocks10:14 EDT JetBlue says capacity growth in 2018 expected to be lower than in 2017 - Says Hurricanes Irma and Maria reduced Q3 EPS by 6c, expects Q4 impact of 10c-13c. Consensus 35c. Expects trends to normalize in the middle of Q4. Expects to return to full operation by the end of next year. Says continues efforts to mitigate ATC challenge. Says Mint continues to exceed expectations. Says continues to make progress on structural cost program. Says remains focused on long-term margin commitment. Sees growth coming from Boston and Fort Lauderdale in Q4. Comments taken from Q3 earnings conference call.
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F | Hot Stocks10:05 EDT Ford announces series of senior leadership changes - Ford announced global leadership changes as it continues to redesign company operations for long-term success. In Global Markets, Kumar Galhotra is named group vice president, Lincoln and Chief Marketing Officer, effective Nov. 1. He will report to Jim Farley, executive vice president and president, Global Markets. At the same time, Stephen Odell, executive vice president, Global Marketing, Sales and Service has elected to retire, after 37 years of service at Ford. Linda Cash is named vice president, Quality and New Model Launch, reporting to Joe Hinrichs, executive vice president and president, Global Operations. Cash succeeds Bennie Fowler, group vice president, Quality and New Model Launch, who has elected to retire. Succeeding Cash is Dale Wishnousky, who is named vice president, Manufacturing, Ford of Europe and is appointed a company officer. Om Ford of Europe, Birgit Behrendt is named vice president, Joint Ventures, Alliances and Commercial Affairs. As the company redesigns the organization and grows Ford Credit, Joy Falotico, chairman and CEO, Ford Motor Credit Company and group vice president of Ford Motor Company, now will report to Jim Hackett, effective Nov. 1. Falotico previously reported to Bob Shanks.
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CMTL | Hot Stocks10:01 EDT Comtech announces $7.5M order from U.S. Army - Comtech announced that during its first quarter of fiscal 2018, its Government Solutions segment's Command and Control Technologies group received an order for $7.5M to supply troposcatter equipment to support U.S. Army activities throughout the Korean Peninsula. Major components of the troposcatter equipment will be provided by Comtech Systems.
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NSPR | Hot Stocks09:50 EDT NYSE accepts InspireMD's plan to regain compliance - InspireMD announced that the New York Stock Exchange has accepted the company's plan to regain compliance with the NYSE American's stockholder's equity continued listing standard. As previously disclosed, the NYSE American notified the company on August 17, 2017, that it had fallen below the NYSE's continued listing standards. Based upon a review of the compliance plan and information submitted by the company, the Exchange determined that the company made a reasonable demonstration of its ability to make substantial progress toward regaining compliance with Section 1003(a)(iii) of the Company Guide by February 17, 2018. The company will be subject to periodic review by the exchange staff during the period covered by the plan. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the plan period could result in the company's shares being delisted from the Exchange.
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LLY | Hot Stocks09:43 EDT Eli Lilly CFO says 'no reservations' about using balance sheet to pursue goals - Eli Lilly CFO Derica Rice said, "We have no apprehension or reservations about using our balance sheet to pursue our therapeutic goals. Whether it's in oncology or across our other therapeutic segments in which we compete. And we do continuously look at the marketplace for external asset opportunities that we'd like to pursue. Most recently, you've seen just this year, three deals in the area of oncology. Now all of those are early-stage deals and that's by design. That's the area that we've chosen to focus on. If you can find late stage assets like we did with CoLucid at the beginning of this year, we'll pursue that as well. In regards to market prices, oncology is still very expensive real estate and one of the things we'll make sure that we do in protecting our shareholders, that we do good diligence on those opportunities we look at and sometimes it is tough finding value at some of the assets at the market prices at which they are being scouted."
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FITB | Hot Stocks09:40 EDT Fifth Third expects corporate banking fees up 10%-15% in Q4 - Sees corporate banking fees up 10%-15% in Q4 sequentially, driven by deals in pipeline. Says optimistic about fee growth trends. Continue to expect noninterest expenses to be flat for FY17, up 1.5% for Q4. Says continues to believe credit provision will be reflective of loan growth. Says capital levels remain "strong." Says will look to return capital to shareholders "prudently".
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LLY SNY | Hot Stocks09:38 EDT Eli Lilly says will not challenge Sanofi biosimilar for Humalog - Eli Lilly (LLY) said on its Q3 call that the deadline under the Hatch-Waxman Act for Lilly to challenge Sanofi (SNY) has expired and the company has not filed suit to challenge their follow-on biosimilar. Executives said on the call: "Lilly's quick pen is an innovative device that offers a number of advantages for patients but for purposes of analyzing the patents, it's a fundamentally different device that the Sanofi pen that they intend to use with their follow-on Lispro. We've always vigorously defend our intellectual property and we'll continue to do so aggressively but we don't engage in litigation to enforce patents unless there is a factual and legal base to do so and here, we didn't have a factual and legal basis to support litigation."
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SNNA | Hot Stocks09:32 EDT Sienna Biopharmaceuticals doses first patient in topical SNA-120 Phase 2b trial - Sienna Biopharmaceuticals announced that the first patient has been dosed in the company's Phase 2b clinical trial of topical product candidate SNA-120 in the treatment of pruritus, or itch, associated with psoriasis and in the treatment of psoriasis itself. SNA-120 is designed to selectively inhibit tropomyosin receptor kinase A, or TrkA, the high affinity receptor for nerve growth factor, or NGF, a known mediator of itch and neurogenic inflammation associated with psoriasis. This multicenter, randomized, double-blind, placebo-controlled trial will evaluate the efficacy, safety and tolerability of SNA-120 compared to vehicle in approximately 190 patients with at least moderate pruritus and mild-to-moderate psoriasis. With the commencement of this Phase 2b trial, Sienna will make a $5M milestone payment to the former shareholders of Creabilis plc, in shares of Sienna common stock, subject to certain offsets, based on the volume-weighted average price of the stock over the 20-day trading period preceding the commencement of the trial.
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ADP | Hot Stocks09:31 EDT Egan-Jones recommends ADP investors vote for Pershing Square nominees - Pershing Square Capital Management announced that Egan-Jones Proxy Services, an independent proxy advisory firm, recommends that ADP shareholders vote FOR Pershing Square's three nominees on the GOLD proxy card at ADP's annual meeting on November 7, 2017. In recommending Pershing Square's nominees on the GOLD proxy card, Egan-Jones noted: "We believe that Pershing Square's nominees will reinforce the Board and management in addressing operational inefficiencies, strengthen corporate governance and unlock ADP's potential in order to maximize shareholder value." "We are delighted to have received Egan-Jones's support," said Bill Ackman. "We urge our fellow shareholders to follow the recommendations of Egan-Jones and Glass Lewis and vote the GOLD proxy card for all three nominees for ADP's transformation."
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FITB | Hot Stocks09:28 EDT Fifth Third expects to achieve positive operating leverage in Q4 - Says continues progress toward long-term financial goals. Says focused on improving customer experience. Expects to achieve positive operating leverage in Q4 and FY17. Expects modest growth in commercial portfolio in Q4 due to expected $200M in remaining exits. Says expanding commercial workforce. Expects to grow consumer and mortgage loans in low to mid single digit range in Q4. Says "feel good" about deposit balances. Says deposit pricing remains "relatively muted." Says market remains competitive. Comments taken from Q3 earnings conference call.
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LLY | Hot Stocks09:28 EDT Eli Lilly sees getting back to investors on Elanco review by mid-2018
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GM | Hot Stocks09:26 EDT GM CEO says looking at global cities for self-driving car tests
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LLY | Hot Stocks09:21 EDT Lilly sees starting baricitinib Phase 3 program for atopic dermatitis this year - Eli Lilly CFO Derica Rice said on the company's Q3 call that following the positive data presented at EADV, the company now expects to begin the Phase 3 program for baricitinib in atopic dermatitis before the end of this year.
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USM ERIC | Hot Stocks09:20 EDT U.S. Cellularand Ericsson complete joint testing of 5G use cases - U.S. Cellular (USM) and Ericsson (ERIC) have completed joint testing of various 5G use cases at 28GHz. The tests, a significant step toward the launch of a 5G network, were conducted in rural and suburban environments in Madison, Wisconsin. The trials were conducted under a variety of real-world conditions, and they achieved peak throughput speed of 8.5 Gbps. In addition, virtual reality was tested, achieving peak speeds of 4 Gbps. This virtual reality test was one of the highlights of the trial, as it proved how the ultra-high speeds and low latency of 5G will enable VR applications. The companies also tested augmented reality, advanced beamforming and massive MIMO.
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APVO | Hot Stocks09:19 EDT Aptevo and Alligator announces details of collaboration on 5T4 - Alligator Bioscience and Aptevo Therapeutics announced further details of the companies' collaboration on ALG.APV-526, a bispecific antibody targeting 4-1BB and a tumor antigen, now identified as 5T4, which is found on various types of cancer cells. 5T4 is a protein predominantly expressed on tumor cells. By combining a tumor-binding and an immunomodulatory antibody in one molecule, Alligator and Aptevo have created a drug candidate whose effect is localized to the tumor area, activating the tumor-specific immune cells present there.
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GM | Hot Stocks09:18 EDT GM sees 2017 revenue, EBIT adjusted 'generally in line' with 2016 - CFO Chuck Stevens says operating environment is more challenging than expected earlier in the year, with raw material costs on the rise and the recently resolved labor situation in Canada. Sees 2017 revenue, EBIT adjusted, EBIT adjusted margins "generally in line" with 2016.
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TRNO | Hot Stocks09:16 EDT Terreno Realty acquires building in Doral, FL, for $6.8M - Terreno Realty acquired an industrial property located in Doral, Florida on October 23, 2017 for a purchase price of approximately $6.8M. The property consists of one industrial distribution building containing approximately 38,000 square feet on 3.3 acres at 1480 NW 94th Avenue in Miami's Airport West submarket. The property provides 10 dock-high and one grade-level loading positions, parking for 49 cars and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 5.4%.
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GM | Hot Stocks09:14 EDT GM CFO expects strong 10%+ margins for North America for 2017
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SWK... | Hot Stocks09:14 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Stanley Black & Decker (SWK), up 3.9%... United Technologies (UTX), up fractionally... Caterpillar (CAT), up 6.7%... 3M (MMM), up 3.3%... General Motors (GM), up 2.9%... Waters (WAT), up marginally... McDonald's (MCD), up 1.2%... Corning (GLW), up 4%... Polaris Industries (PII), up 7.6%... Knoll (KNL), up 13.7%. ALSO HIGHER: Alexion Pharmaceuticals (ALXN), up 5.4% after announcing that the FDA has approved Soliris... Graphic Packaging Holding (GPK), up 7.6% after announcing it will create a consumer packaging platform with International Paper (IP) and reporting quarterly results... International Paper is up marginally... Ford (F), up marginally after GM reported quarterly results. DOWN AFTER EARNINGS: Logitech (LOGI), down 4.6%... Novartis (NVS), down 2.6%... New Oriental Education (EDU), down 1%... Whirlpool (WHR), down 10.7%... Interpublic Group (IPG), down 5.6%... PulteGroup (PHM), down 1.4%... Lockheed Martin (LMT), down 1.2%... Infosys (INFY), down 2.4%... JetBlue (JBLU), down 1.9%... Biogen (BIIB), down 2.6%... Commvault Systems (CVLT), down 9.2%. ALSO LOWER: General Electric (GE), down 1% after being downgraded at Stifel and Oppenheimer.
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LLY | Hot Stocks09:12 EDT Eli Lilly CEO says alternatives for Elanco include IPO, merger or sale - Eli Lilly chairman and CEO David Ricks said on the company's Q3 call that the strategic alternatives for the Elanco Animal Health business include a potential IPO, merger, sale or retaining the business. Eli Lilly announced earlier this morning that it is reviewing strategic alternatives for Elanco.
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GM | Hot Stocks09:11 EDT General Motors CEO says on 'profitable path' to electric future - GM Chairman and CEO Mary Barra says industry changing very quickly. Says planning six new models for China in Q4. Still planning 20 new all electric vehicles by 2023, including two in the next 18 months. Says pursuing battery electric and hydrogen fuel cell technology. Barra says GM is on a "profitable path" to electric future. Comments taken from the Q3 earnings conference call. GM is up 2.6% in premarket trading.
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RENN | Hot Stocks09:11 EDT Renren contacted by NYSE due to unusual activity in its ADS - In view of the unusual market activity in the Renren's American Depositary Shares, or ADS, on Monday, October 23, the New York Stock Exchange has contacted the Company in accordance with its usual practice. The Company stated that its policy is not to comment on market rumors or otherwise speculate on unusual market activity.
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PRGO | Hot Stocks09:10 EDT Perrigo announces tentative FDA approval for generic version of Picato Gel - Perrigo announced it has received tentative approval from the U.S. FDA for the generic version of Picato Gel 0.015%. The submission date of Perrigo's Abbreviated New Drug Application matches the first-to-file date posted on FDA's Paragraph IV Patent Certifications list. Picato Gel 0.015% is indicated for the topical treatment of actinic keratosis. Branded market sales for the twelve months ending August 2017 were approximately $51M.
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TTEK | Hot Stocks09:08 EDT Tetra Tech awarded $950M contract by USACE - Tetra Tech announced that it was one of seven contractors selected by the U.S. Army Corps of Engineers, Engineering and Support Center, Huntsville, for an indefinite delivery indefinite quantity contract valued at $950M. Under the five-year International Remediation and Environmental Services contract, Tetra Tech will provide comprehensive environmental remediation services to the Department of Defense outside the continental United States. Tetra Tech will work with Huntsville Center to safely identify, recover, and remediate hazardous, toxic, and radiological waste in OCONUS, with an initial focus on regions in Iraq and Afghanistan. Tetra Tech will provide technical services to address human health and environmental risks including engineering evaluations, sampling and analysis, and remedial or removal actions.
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WBA | Hot Stocks09:05 EDT Walgreens says stocking Narcan nasal spray in all pharmacies nationwide - As part of its comprehensive national plan to combat drug abuse, Walgreens is now stocking Narcan, an FDA-approved nasal form of naloxone, in all of its more than 8,000 pharmacies nationwide. The medication, administered by nasal spray, can be used in the event of an overdose to reverse the effects of opioid drugs, which include some prescription painkillers and heroin. In addition, Walgreens is adopting Centers for Disease Control and Prevention recommendations by educating patients about Narcan when they are dispensed a controlled substance greater than 50 morphine milligram equivalents and may be at risk of accidental overdose.
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UTX... | Hot Stocks09:04 EDT United Technologies says Airbus stake in C-series good for UTX long-term
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MSFT | Hot Stocks09:04 EDT Microsoft and Parexel announce alliance - Microsoft and PAREXEL International on Tuesday announced a technology development alliance aimed at driving innovation across the life sciences industry with technology powered by Microsoft Azure. The collaboration between Microsoft and PAREXEL is designed to help the industry accelerate drug development and bring new therapies to patients sooner. The companies will combine Microsoft's global cloud infrastructure, intelligent services, and research and development capabilities with PAREXEL's global presence and its clinical and regulatory technology domain expertise.
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PRGS | Hot Stocks09:04 EDT Progress Software announces plans to expand board - The Board of Directors of Progress Software announced that it is initiating a search process to identify and add up to two new independent directors. The Board has retained an executive search firm to assist the Board in the process. This process will be overseen by the Board's Nominating & Corporate Governance Committee. In light of the Company's continued focus on providing the most complete platform for building modern mission-critical business applications, the Board's criteria for the new director candidates will emphasize diverse individuals with executive experience at public companies in the enterprise infrastructure software industry. The search is in keeping with the Board's longstanding focus on ensuring that it has the right skills and perspectives to enable the Company to execute on its business strategy, strengthen its competitive positioning, and deliver value to all shareholders. To that end, Progress has significantly refreshed its Board over the last year by adding three new directors, with two new independent directors having joined in June 2017. Our current Board has seven members, comprised of six independent directors and our Chief Executive Officer. The Board's Nominating & Corporate Governance Committee will consider as director candidates qualified individuals suggested by shareholders, including those director candidates previously suggested by Praesidium Investment Management. To make a recommendation at this time, shareholders should contact the Company's Corporate Secretary by submitting an email communication to BOD@progress.com with the information required for recommendations as outlined in the Company's proxy statement previously filed with the Securities and Exchange Commission in connection with its 2017 Annual Meeting. All recommendations will be forwarded to the Nominating & Corporate Governance Committee.
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WWE | Hot Stocks09:03 EDT WWE, SPORT TV announce multi-year agreement for Raw, Smackdown - WWE and SPORT TV, Portugal's premier sports broadcaster, today announced a new multi-year agreement to broadcast WWE's flagship programs Raw and SmackDown starting next Tuesday, October 31. SPORT TV channel SPORT.TV5 will offer complete versions of Raw and SmackDown, with Raw airing at 7 p.m. on Tuesdays and SmackDown airing at 7 p.m. on Wednesdays. In addition, SPORT.TV+ will broadcast a one-hour edition of Raw at 6 p.m. on Thursdays and a one-hour edition of SmackDown at 11 a.m. on Saturdays. All programs will be available with Portuguese commentary. During premiere week, SPORT.TV5 will debut Raw and SmackDown at special times, with Raw airing at 4:30 p.m. on Tuesday, October 31 and SmackDown airing at 5:30 p.m. on Wednesday, November 1.
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AMZN | Hot Stocks09:02 EDT Amazon says to create more than 1,000 new FT positions in Phoenix-area - This fall, Amazon will celebrate its ten year anniversary of fulfilling customer orders from the Phoenix-area by opening a new center supporting customer fulfillment and unveiling an overhaul of its original Valley facility. Together, the two facilities will create more than 1,000 new full-time positions for Phoenix's economy. These new jobs are on top of the 6,000 full-time workers Amazon now employs at four fulfillment centers and other locations throughout the Copper State.
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NLSN | Hot Stocks09:02 EDT Nielsen expands multi-year agreement with Sargento Foods - Nielsen and Sargento Foods announced the expansion of a multi-year relationship. With this renewed agreement, Nielsen will continue to deliver industry-leading information and insights to Sargento, in addition to extend services to fuel the company's category management, innovation and marketing and sales effectiveness strategies. For over a decade, Nielsen has been a central and strategic resource to Sargento. Nielsen's vast suite of products and services has supported Sargento Foods' rise to a leading player in the natural shredded, sliced, and snacking cheese space. The pursuit of innovation is part of the heritage of Sargento, as demonstrated by its Nielsen Breakthrough Innovation awards for Ultra Thin Cheese Slices and Balanced Breaks. That pursuit has led the dairy industry forward, giving people more ways to celebrate their love for real, natural cheese.
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DLPH | Hot Stocks09:01 EDT Delphi to acquire nuTonomy for $400M - Delphi Automotive announced that it has signed an agreement to acquire nuTonomy for an upfront purchase price of $400M and earn-outs totaling approximately $50M. The transaction brings together the leading start-up and Tier 1 in autonomous driving and further accelerates Delphi's commercialization of AD and Automated Mobility on-Demand solutions for automakers and new mobility customers worldwide.
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CIEN | Hot Stocks09:01 EDT Ciena selected by Batelco to build new Batelco Gulf Network - Batelco, Bahrain Telecommunications Company, has selected Ciena's Converged Packet Optical Platform as the foundation for the new Batelco Gulf Network. The BGN runs over a state-of-the-art Optical Transfer Network to meet the demand for reliable and cost effective high bandwidth connectivity and capacity for Batelco customers and international carriers' wholesale needs, supporting up to 8.8Tbps and beyond.
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UTX | Hot Stocks08:56 EDT United Technologies says Rockwell deal intended to maximize aerospace unit value
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UTX | Hot Stocks08:48 EDT United Technologies says 'confident' in business units' 2020 targets - Expects Rockwell Collins to be accretive to earnings in 2019.
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DDAIF... | Hot Stocks08:47 EDT ACEA says EU commercial vehicle registrations up 0.6% in September - In September, commercial vehicle registrations across the EU remained stable, rising 0.6%compared to one year ago, said the European Automobile Manufacturers Association. Publicly traded truck makers and suppliers include Daimler AG (DDAIF), Paccar (PCAR), CNH Industrial (CNHI), Navistar (NAV), Cummins (CMI) and Allison Transmission (ALSN). Reference Link
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CLRB | Hot Stocks08:44 EDT Cellectar introduces multiple dose regimen in 5th cohort of CLR 131 trial - Cellectar Biosciences announces the design of the multiple dose fifth cohort of its Phase I dose escalation safety trial of lead PDC compound, CLR 131, in relapse or refractory multiple myeloma. Cohort 5 will utilize two 15.625 mCI/m2 doses given one week apart with the total combined dose equaling 31.25 mCi/m2, the same total dose provided to patients that resulted in a partial response in Cohort 4. In previous cohorts, CLR 131 was given in a single infusion.
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UTX | Hot Stocks08:42 EDT United Technologies says still sees EPS growth in 2018
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UTX | Hot Stocks08:41 EDT United Technologies says 'organic growth happening now, will continue'
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UTX | Hot Stocks08:39 EDT United Technologies: 'We feel particularly good about the end markets we serve'
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EFX | Hot Stocks08:38 EDT FCA announces investigation into Equifax cybersecurity incident - The U.K. Financial Conduct Authority announces that it is investigating the circumstances surrounding a cybersecurity incident that led to the loss of U.K. customer data held by Equifax on the servers of its U.S. parent. "This statement is made given the public interest in these matters," the FCA added.
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GILD | Hot Stocks08:37 EDT Gilead: Oral ACC inhibitor led to significan reductions in measures of liver fat - Gilead Sciences announced results from a Phase 2, randomized, placebo-controlled trial evaluating two doses of GS-0976, an oral, investigational inhibitor of Acetyl-CoA carboxylase, in patients with nonalcoholic steatohepatitis. The data demonstrate that the higher dose of GS-0976 when administered for 12 weeks was associated with statistically significant reductions in hepatic steatosis and a noninvasive marker of fibrosis compared to placebo. These results are being presented during a late-breaking abstract session at The Liver Meeting 2017 in Washington, D.C. Eighteen other abstracts on Gilead's NASH and liver fibrosis pipeline were also presented at the meeting. The study included 126 patients who were randomized to receive GS-0976 20 mg, GS-0976 5 mg, or placebo once daily for 12 weeks. All patients in the study were diagnosed with NASH and liver fibrosis stages F1 through F3 based on biopsy, or by magnetic resonance elastography and MRI proton density fat fraction. Patients receiving GS-0976 20 mg demonstrated significant decreases in liver fat content compared to placebo after 12 weeks of treatment. Patients treated with GS-0976 20 mg also experienced a significant decrease in TIMP-1, a serum marker associated with liver fibrosis. Differences between GS-0976 5 mg and placebo were not statistically significant.
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UTX | Hot Stocks08:37 EDT United Technologies says investments translating into sustained sales growth - Says Pratt & Whitney remains on track to achieve FY17 engine goal. Says "confident" in improved outlook for FY17. Comments from Q3 earnings conference call.
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PX SSNLF | Hot Stocks08:37 EDT Praxair signs long-term agreement to supply Samsung display complex - Praxair (PX) announced it has signed a long-term agreement to build, own and operate an air separation plant that will supply 700 tons per day of nitrogen to Samsung's (SSNLF) display manufacturing complex in Tangjeong, South Korea. This complex is the largest sixth-generation flexible Organic Light Emitting Diodes panel plant in the world. Its capacity is increasing in 2017 in order to meet global market demand. OLEDs are used in a variety of products including televisions, mobile devices, digital cameras, virtual reality headsets and laptops.
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CPST | Hot Stocks08:36 EDT Capstone Turbine signs follow-on 2MW factory protection plan in HI market - Capstone Turbine announced that it has recently signed a 2 megawatt Factory Protection Plan, or FPP, multi-year contract with its Hawaiian Distributor Critchfield Pacific for a global resort hotel chain on the island of Maui. This adds to the established, multi-year contract for the same resort hotel chain at a large property on the Hawaiian island of Kaui. Total FPP long-term contract coverage for Capstone units operating in Hawaii is now 74% as a result of the latest multi-megawatt FPP contract. "The combination of the increased market awareness of Capstone microturbines due to the recent hurricanes, and the benefit of both our highly reliable microturbine products for onsite generation and our industry-leading long-term FPP service contracts, are the foundation of our multi-point strategic path towards achieving Adjusted EBITDA breakeven in the near term," said Jayme Brooks, Capstone's Chief Financial Officer and Chief Accounting Officer.
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PLNT | Hot Stocks08:36 EDT Planet Fitness announces leadership appointments - Planet Fitness announced the appointments of Craig Miller as Chief Digital & Information Officer and Rob Sopkin as Chief Development Oficer. Miller will be responsible for driving the vision and leadership of the Company's technology innovation as well as managing its digital information systems, while Sopkin will lead the Company's strategic and aggressive system-wide expansion efforts. Miller brings more than 20 years of experience in building industry-leading technology systems and innovative customer facing applications within prominent consumer companies. Most recently, he served as senior vice president and chief information and technology officer at Sonic Drive-In, where he was responsible for developing and executing technology transformation strategies and services, including customer experience, digital engagement, store operations, advanced analytics and corporate solutions. Sopkin joins Planet Fitness with approximately two decades of regional and national real estate and development experience. Most recently, he served as chief real estate officer at Dean & Deluca, where he was responsible for all aspects of development, construction, design and facilities, and created a strategic growth plan and store development organizational structure for the U.S. rollout of gourmet market stores and the launch of a new fast casual concept.
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SYBX | Hot Stocks08:34 EDT Synlogic receives orphan drug designation for SYNB1618 - Synlogic announced that the U.S. Food and Drug Administration has granted Orphan Drug Designation to SYNB1618, Synlogic's preclinical-stage drug candidate for the treatment of phenylketonuria , an inborn error of metabolism caused by a mutation in the gene that breaks down the amino acid phenylalanine. Phe accumulation in the blood and brain can lead to neurocognitive abnormalities and treatment currently requires severe dietary protein restriction. SYNB1618, an orally administered medicine, is designed to complement the missing function in patients with PKU by providing alternative metabolic pathways to consume Phe. Synlogic plans to file an investigational new drug application with the FDA for SYNB1618 for the potential treatment of PKU in early 2018.
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HALO | Hot Stocks08:34 EDT Halozyme announces clinical trial evaluating PEGPH20 - Halozyme Therapeutics announced the initiation of a multi-arm clinical trial evaluating PEGPH20, Halozyme's investigational new drug, in combination with atezolizumab, or TECENTRIQ, an anti-PDL1 cancer immunotherapy from Genentech, a member of the Roche Group. The combination will be tested in patients with previously treated, locally advanced unresectable or metastatic gastric or gastroesophageal junction cancer.
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OA LMT | Hot Stocks08:33 EDT Orbital ATK receives $24M contract from Lockheed Martin - Orbital ATK (OA), a global leader in aerospace and defense technologies, announced today it has received an initial $24M contract from Lockheed Martin (LMT) to produce additional composite components for the F-35 Joint Strike Fighter. Under the terms of the three-year contract, Orbital ATK will produce bullnose and blade seals at its facility in Clearfield, Utah. Orbital ATK currently produces upper and lower wing skins, engine nacelles and access covers for the F-35. The Lockheed Martin F-35 Lightning II is a fifth generation fighter, combining advanced stealth with fighter speed and agility, fully fused sensor information, network-enabled operations, advanced sustainment and lower operational and support costs.
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VOXX | Hot Stocks08:33 EDT VOXX subsidiary receives three new patents covering validation systems - EyeLock, a majority owned subsidiary of VOXX International, announced that the United States Patent and Trademark Office has issued three new U.S. Patents: No. 9,792,498, No. 9,792,499 and No. 9,792,497, making that a total of 54 patents granted to the Company to date. The new patents cover crucial technology innovations for the validation of iris and facial images; the ease and speed of biometric matching; and visual guidance for gaze alignment.
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HMNY | Hot Stocks08:33 EDT Helios and Matheson: MoviePass surpasses over 600K paying monthly subscribers - Helios and Matheson Analytics announced that MoviePass Inc., the movie theater subscription service that HMNY has agreed to buy a majority stake in, has surpassed over 600,000 paying monthly subscribers as of October 18, 2017, up from approximately 20,000 as of August 14, 2017, the day before MoviePass announced its new $9.95 per month subscription price. The continued growth trajectory exceeded MoviePass' initial projections, and now MoviePass projects that it will acquire at least 3.1 million additional paying subscribers through August 18, 2017, exceeding its previous estimate of 2.5 million subscribers. HMNY also announced that MoviePass had a subscriber churn rate of 4.2% for month 1 and 2.4% for month 2 after announcing its new $9.95 per month subscription price. Based on current churn rates, monthly subscriber retention is above 96% and average paying monthly subscriber life expectancy is 46.8 months. Following HMNY's purchase of a majority stake in MoviePass, which remains subject to the approval of HMNY's stockholders, HMNY plans to further integrate its data analytics capabilities with the MoviePass service to analyze moviegoer's behaviors and preferences, with the goal of helping the film industry better understand what audiences want. With HMNY's capabilities, HMNY believes that MoviePass can bridge an intelligence gap for the movie theater industry so the entire film ecosystem can better serve audiences in areas ranging from production to advertising.
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FITB | Hot Stocks08:30 EDT Fifth Third sees Q4 NII on FTE basis roughly flat sequentially - Sees Q4 adjusted noninterest income up approximately 10%, excluding mortgage. Sees Q4 NII on FTE basis roughly flat sequentially, NIM down about 2bps sequentially. For Q4, sees modest sequential commercial loan growth, including impact of $200M of remaining exits, Sees low to mid single digit consumer and mortgage loan growth, excluding auto balances. Sees noninterest expense up about 1.5% in Q4 sequentially. Sees Q4 effective tax rate 29%-30%. Comments from slides that will be presented on the Q3 earnings conference call.
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FAT | Hot Stocks08:26 EDT Fat Brands announces expansion of Fatburger, Buffalo's Express to the U.K. - FAT Brands, parent company of Fatburger, The Last Great Hamburger Stand, and Buffalo's Express, announced that the company has signed a major international agreement with Charlie FB Limited to open fifteen co-branded Fatburger and Buffalo's Express restaurants across the United Kingdom over the next few years.
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UTX | Hot Stocks08:24 EDT United Technologies sees FY17 organic sales growth 3%-4% - FY17 revenue consensus $59.44B. Sees FY17 free cash flow $3B-$3.5B. Guidance from presentation slides for Q3 earnings conference call.
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WDR | Hot Stocks08:24 EDT Waddell & Reed cuts dividend to 25c from 46c, announces $250M buyback - Waddell & Reed announced this morning a revised capital return policy "intended to provide greater financial flexibility to invest in our business, maintain a strong balance sheet and continue to provide a competitive return to stockholders." Accordingly, the board reduced the quarterly dividend on Class A common stock to 25c per share from 46c, payable on February 1, 2018 to stockholders of record as of January 11, 2018. The capital return policy also encompasses a plan to repurchase $250M of common stock, which is inclusive of buybacks to offset dilution of our equity grants. "Based on our current financial forecast, we intend to engage in an opportunistic share repurchase plan to fulfill the targeted buybacks over the next two years," the company said. "We believe this policy allows us to create long-term value for our stockholders by providing us with additional flexibility to reposition our company amidst an ever-changing industry. This new capital return policy will not only provide for sustainability of the dividend, but also support our strategic initiatives going forward," said CEO Philip Sanders.
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WHR SHLD | Hot Stocks08:21 EDT Whirlpool to continue to supply Kenmore products to Sears - Whirlpool (WHR) CEO Marc Bitzer confirmed reports that the company will no longer supply Whirlpool appliances to Sears (SHLD) but notes the company will continue to supply Kenmore appliances. Comments provided during Q3 earnings conference call.
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DM | Hot Stocks08:17 EDT Dominion Energy Midstream raises dividend 5% to 30.25c - The board of directors of Dominion Energy Midstream, the general partner of Dominion Energy Midstream Partners, has declared a Q3 cash distribution of 30.25c per common and subordinated unit - an increase of 5% above the Q2 distribution - which corresponds to an annualized distribution rate of $1.21 per such unit. Distributions are payable on Nov. 15 to unitholders of record at the close of business Nov. 6.
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VAR | Hot Stocks08:16 EDT Varian Medical says first patients in U.S. treated with HDRT - Varian announced five patients with brain cancer became the first patients in the US to be treated using the company's HyperArc High Definition Radiotherapy, a new type of radiosurgery treatment, at the University of Alabama at Birmingham Comprehensive Cancer Center. HyperArc is designed to automate and simplify sophisticated treatments such as stereotactic radiosurgery and make them available to more cancer patients around the world.
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MANT | Hot Stocks08:15 EDT ManTech awarded $27.2M contract for U.S. Navy C4ISR training services - The U.S. Navy Space and Naval Warfare Systems Center Pacific, or SSC Pacific, has awarded ManTech a $27.2M indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, multiple-award prime contract to provide training services to SSC Pacific's Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance, or C4ISR, systems. The three-year, multiple award contract includes two one-year option periods which if exercised could increase the overall potential value of the contract to $45.8M.
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FLDM | Hot Stocks08:12 EDT Fluidigm announces distibution agreement for histoCAT with University of Zurich - Fluidigm announced that it has entered into a distribution agreement with the University of Zurich to offer histoCAT software for multiparameter tissue analysis. Under the agreement, Fluidigm obtained rights to globally distribute the software in conjunction with the Hyperion Imaging System. "The development of histoCAT is a major step forward in unlocking the latent potential of mass cytometry to deeply interrogate tissue samples. Through this new secondary analysis software, researchers can explore a wider range of new questions in conjunction with the Hyperion Imaging System workflow," said Chris Linthwaite, President and CEO of Fluidigm.
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RIC AGI | Hot Stocks08:12 EDT Alamos Gold and Richmont Mines granted interim order from Quebec Court - Alamos Gold (AGI) and Richmont Mines (RIC) announced that Alamos and Richmont have been granted an interim order from the Quebec Superior Court authorizing various matters, including the holding of special meetings of Alamos and Richmont shareholders to consider the proposed plan of arrangement whereby Alamos will acquire all of the issued and outstanding shares of Richmont, and the mailing of the joint information circular. Alamos and Richmont's Board of Directors unanimously recommend that their shareholders vote in favor of the proposed Transaction.
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GBT | Hot Stocks08:11 EDT Global Blood Therapeutics announces approval of 'voxelotor' as INN for GBT440 - Global Blood Therapeutics announced that the World Health Organization has approved "voxelotor" as the International Nonproprietary Name for its lead product candidate GBT440, and that the United States Adopted Name Council has adopted "voxelotor" as the United States Adopted Name for GBT440. Voxelotor is an oral, once-daily therapy that is designed to modulate hemoglobin affinity for oxygen and is in clinical development for the treatment of sickle cell disease.
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INO | Hot Stocks08:10 EDT Inovio announces results of pre-clinical study of Lassa fever vaccine - Inovio Pharmaceuticals announced results of a study in which a DNA vaccine provided 100% protection for non-human primates challenged with a lethal dose of the Lassa fever virus. These results were published in the most recent issue of Human Vaccines & Immunotherapeutics in an article entitled, "A DNA Vaccine Delivered by Dermal Electroporation Fully Protects Cynomolgus Macaques Against Lassa Fever," by Inovio researchers and U.S. Army collaborators. In the study, funded by a previously awarded $3.5M grant from the National Institute of Allergy and Infectious Diseases, the animals first received Inovio's DNA vaccine against Lassa hemorrhagic fever via intradermal administration with CELLECTRA delivery device. The animals were then challenged with a lethal dose of the Lassa virus. "All of the animals survived; in fact, none of the vaccinated animals displayed any signs of disease," the company stated.
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ALDX | Hot Stocks08:09 EDT Aldeyra presented data from ADX-102 studies - Aldeyra Therapeutics presented novel data at the American Society of Human Genetics 2017 Annual Meeting demonstrating that ADX-102 reduced levels of gamma-hydroxybutyrate and gamma-aminobutyrate in a knockout mouse model of Succinic Semialdehyde Dehydrogenase Deficiency, or SSADH. SSADH Deficiency is an orphan neurological disease caused by mutations in SSADH, resulting in elevated levels of succinic semialdehyde. Excess succinic semialdehyde is converted into GHB, GABA, and other metabolites that lead to severe neurological dysfunction, including cognitive delay, seizures, and motor dysfunction. Excess levels of GHB and GABA impair neuronal transmission. A small number of patients with a diagnosis of autism have been found to have SSADH Deficiency.
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ACRS | Hot Stocks08:09 EDT Aclaris Therapeutics announces allowance of U.S. patent application - Aclaris Therapeutics announced that Columbia University has received a Notice of Allowance from the United States Patent and Trademark Office for a patent application covering methods of treating a hair loss disorder, such as alopecia areata and androgenetic alopecia, or inducing hair growth, by administering tofacitinib topically or by administering tofacitinib as the sole active ingredient, and treating androgenetic alopecia or inducing hair growth in a subject having androgenetic alopecia by administering tofacitinib. The application was allowed with 66 claims. This U.S. application will become the latest patent to issue in Aclaris' JAK inhibitor drug development program for hair loss disorders. Columbia University has previously issued U.S. patents covering the use of ruxolitinib, baricitinib, and decernotinib for the treatment of hair loss disorders, for inducing hair growth, as well as the use of these JAK inhibitors to treat androgenetic alopecia. The allowed U.S. application is part of an intellectual property portfolio which includes other issued patents and numerous patent applications in the U.S. and major international markets directed to various JAK inhibitors for the treatment of hair loss disorders, such as alopecia areata, androgenetic alopecia, and other hair loss conditions. The allowance of this U.S. application follows closely on the heels of the issuance of Japanese Letters Patent No. 6212107, which is directed to topical compositions of tofacitinib, as well as pharmaceutical compositions of tofacitinib as the sole therapeutic active agent, for treating hair loss disorders and for inducing hair growth. Japanese Letters Patent No. 6212107 was issued on September 22, 2017 with 25 claims and expires in March 2033. The claims cover tofacitinib in a topical composition or as the sole active therapeutic agent in a pharmaceutical composition for inducing hair growth and for treating hair loss disorders, such as alopecia areata and androgenetic alopecia. This newly issued patent is owned by The Trustees of Columbia University in the City of New York and exclusively licensed to Aclaris.
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CBIO | Hot Stocks08:08 EDT Catalyst Biosciences announces strategic collaboration with Mosaic Biosciences - Catalyst Biosciences and privately held Mosaic Biosciences announced that they have entered into a strategic collaboration to develop Catalyst's anti-C3 protease assets for dry age-related macular degeneration and other serious inflammatory retinal disorders. Catalyst's current anti-C3 protease compounds are selective for C3 and have been shown to completely inhibit C3 in preclinical studies with good tolerability after intraocular administration. Under terms of the agreement, Catalyst and Mosaic will collaborate to improve the pharmacokinetic properties of Catalyst's anti-C3 proteases, with a goal of delivering product candidates that have a target profile of a once quarterly intravitreal dosing in humans and better potency compared with competitors. Catalyst and Mosaic will co-fund the research; Catalyst will retain global commercial rights for all collaboration products and Mosaic will receive product sublicense fees and/or milestone payments and royalties.
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SIMO | Hot Stocks08:08 EDT Silicon Motion raises annual dividend by 50% to $1.20 per ADS - Silicon Motion announces its annual cash dividend of $1.20 per ADS, a 50% increase from the 80c per ADS declared last year.
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HLIT ORAN | Hot Stocks08:07 EDT Orange selects Harmonic live encoding and transcoding platform - Harmonic (HLIT) announced that Orange (ORAN) has upgraded its IPTV and OTT video delivery architecture with a Harmonic live encoding and transcoding platform. At the heart of the workflow is Harmonic's Electra software-based system, which offers Orange a unified solution for both IPTV and OTT delivery streamlining operations and providing the operator with the flexibility to reuse system capacity as its needs evolve over time.
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RCON | Hot Stocks08:06 EDT Recon Technology to provide wastewater treatment services to Qinghai Oilfield - Recon Technology announced that it will provide its proprietary chemical compound agents and microbiological treatment agents and relevant services for oily sewage treatments to Qinghai Oilfield Company, a PetroChina Co., Ltd. subsidiary. Recon's revenue of the Project is expected to be approximately $2M over the course of one year, subject to the quantity of the Products actually used by Qinghai Oilfield. Recon expects to begin recording revenue under the Project in the current quarter. The Project represents a significant increase in size and scope over the company's previous wastewater treatment agreements. All goods to be delivered in the Project will be developed and rendered by Recon. Recon is applying patents for its own bio-stimulants, a kind of microbiological treatment agents needed in the Project and has been granted several patents for invention of oily wastewater treatment devices.
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GOGO LTM | Hot Stocks08:04 EDT Gogo's 2Ku technology selected by LATAM Airlines Brazil - Gogo (GOGO) announced that it has been selected by LATAM Airlines (LTM) Brazil to introduce inflight connectivity using Gogo's 2Ku technology to 100 of its A320 aircraft, which operate flights in Brazil as well as to other countries in Latin America. Gogo's inflight connectivity service will begin in the first half of 2018 and the roll-out of the technology is expected to be completed in the first half of 2019.
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LIVE | Hot Stocks08:04 EDT Live Ventures announces repurchase of over 110,000 shares - Live Ventures announced it has acquired approximately 110,000 shares through its stock repurchase program since its inception through October 20. The average share price of those repurchased shares, which includes commissions, was $10.64, representing an approximate discount of 20% over the October 23 close price and approximately five percent of the total outstanding basic shares of the company.
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PDCO MCK | Hot Stocks08:04 EDT Patterson Companies names Mark Walchirk president and CEO - Patterson Companies (PDCO) named Mark Walchirk President and CEO, effective November 20, 2017. He will succeed James Wiltz, who will continue to serve as Interim President and CEO until that time and will remain on the Patterson Board following the transition. Walchirk will also become a member of the Board, which will be expanded to include nine directors, as of the effective date. Walchirk joins Patterson from McKesson Corporation (MCK), where he most recently served as President of U.S. Pharmaceutical, the largest business unit within McKesson's North America pharmaceutical distribution & services segment.
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MCD | Hot Stocks08:03 EDT McDonald's CEO: 'Our Velocity Growth Plan is the right strategy' - Steve Easterbrook concluded, "Our Velocity Growth Plan is the right strategy for McDonald's to achieve long-term, profitable growth and we are on track to succeed with our commitment and focus on execution. We've made progress in many areas of our business already, including optimizing our restaurant ownership mix and running better restaurants. At the same time, we also are making strides with initiatives such as delivery, mobile order and pay, as well as the Experience of the Future transformation of our restaurants that will make the experience more convenient, personalized and enjoyable for our customers." "During the quarter, we refranchised our businesses in China and Hong Kong, reaching our target to refranchise 4,000 restaurants more than a year ahead of schedule," said McDonald's CFO, Kevin Ozan. "Completing this transaction brings us closer to the customers and communities we serve in these markets and creates a better opportunity to unlock their full growth potential. Our more heavily franchised structure will continue to drive shareholder value by providing a more stable revenue and income stream with higher returns on invested capital."
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TIVO | Hot Stocks08:03 EDT TiVo announces all-new BOLT VOX, Mini VOX - TiVo introduced several exciting additions to the TiVo consumer product family -- the TiVo BOLT VOX and TiVo Mini VOX. "The latest device lineup includes TiVo's first voice control remote - the TiVo VOX Remote(TM), with which viewers can use their voice to search for programs across live TV, DVR, video-on-demand and online streaming services. The new TiVo products also include access to the latest visually rich, on-screen TiVo user experience, complete with built-in personalized recommendations and intelligent predictions. The TiVo BOLT VOX provides the most personalized and unified entertainment experience ever, combining the features of TiVo's most powerful DVR with the most popular online streaming services, all controlled by a single voice-powered remote control. The new TiVo Mini VOX allows viewers to expand this great experience to other rooms in the house with up to 4K Ultra HD picture quality, faster performance, and no additional service fees."
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CACI | Hot Stocks08:02 EDT CACI awarded $54.5M contract for R&D for U.S. Army's SEAMS division - CACI International announced that it was awarded a task order, valued at $54.5M if all options are exercised, to provide research and development and systems engineering support to the Systems Engineering, Architecture, Modeling and Simulation Division of the U.S. Army Communications-Electronics Research, Development and Engineering Center's Space and Terrestrial Communications Directorate. This two-year, seven-month task order was awarded under the Information Technology Enterprise Solutions - 2 Services contract vehicle. It significantly expands the size and scope of the company's current work for SEAMS in CACI's Communications market area.
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MCD | Hot Stocks08:02 EDT McDonald's reports Q3 systemwide sales increased 7% in constant currencies - Systemwide sales increased 7% in constant currencies, due to strong comparable sales performance and restaurant expansion.
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CONE | Hot Stocks08:01 EDT CyrusOne announces new data center campus in Allen, Texas - CyrusOne announced plans for a new state-of-the-art data center campus in Allen, Texas, north of Dallas. The project will consist of three phases, with construction commencing in October. The first data center will be approximately 340,000 square feet, bringing CyrusOne's total footprint in Texas to over 1.7 million square feet. Upon completion, the site's three data centers will offer more than 100 megawatts of available power.
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HBB | Hot Stocks08:01 EDT Hamilton Beach enters into distribution agreement with Vacuvita - Hamilton Beach Brands announced it has entered into an exclusive multi-year distribution agreement with Vacuvita to sell, market and distribute Vacuvita-branded products. These unique products are designed to make storage of foods simple and accessible. Hamilton Beach will begin distribution of Vacuvita products in October 2017 and will sell throughout the United States and Canada at select retailers.
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R | Hot Stocks07:59 EDT Ryder: Overall earnings outlook for Q4 'on track' with prior expectations - Commenting on the company's outlook, Mr. Sanchez said, "Our overall earnings outlook for the fourth quarter remains on track with our prior expectations. We anticipate a somewhat improved outlook for Fleet Management Solutions related to higher demand and utilization in commercial rental. Our outlook for ChoiceLease fleet growth remains at 3,500 vehicles for the full year. We expect Ryder's used vehicle inventory to be near the low end of our target range by year end, which further improves the Company's position related to used vehicles entering 2018. Our outlook for used vehicle sales pricing remains unchanged. Improved performance in FMS is anticipated to be primarily offset by lower performance in Supply Chain Solutions. In the fourth quarter, we expect Supply Chain Solutions results to continue to be impacted, but to a lesser extent, by the account challenges experienced in the third quarter. Fourth quarter Supply Chain Solutions results are expected to be flat or modestly higher on a year-over-year basis. Dedicated Transportation Solutions is expected to continue to be impacted by higher insurance premium rates and generally in line with our prior expectations."
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MCD | Hot Stocks07:59 EDT McDonald's reports Q3 global comparable sales increased 6.0% - Global comparable sales increased 6.0%, reflecting positive guest counts in all segments.
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MCD | Hot Stocks07:59 EDT McDonald's reports Q3 U.S. SSS up 4.1% - In the U.S., third quarter comparable sales increased 4.1%, reflecting the national beverage and McPick 2 value promotions, along with the continued success of the Signature Crafted premium sandwich platform. Operating income for the quarter increased 6%, reflecting higher sales-driven franchised margin dollars and G&A savings.
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R | Hot Stocks07:58 EDT Ryder CEO says saw stronger than seasonal growth in rental demand - Commenting on the company's third quarter results, Ryder Chairman and CEO Robert Sanchez said, "We performed in line with our expectations for the third quarter. Although earnings were down year over year, earnings comparisons improved from the second quarter of this year. In Fleet Management Solutions, we realized better than expected rental and used vehicle sales performance. We saw stronger than seasonal growth in rental demand, as well as hurricane-related activity late in the quarter, which, along with our earlier right-sizing actions, allowed us to outperform in rental. The net impact of hurricanes was neutral in the quarter, as hurricane-related increases in rental demand were offset by property losses. Used vehicle sales volumes were higher than anticipated, lowering our used vehicle inventory level to the middle of our target range a quarter earlier than anticipated. This represents the lowest level in two years, better positioning our inventory going forward. Additionally, used vehicle pricing was in line with our expectations."
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TD | Hot Stocks07:47 EDT Toronto-Dominion reports outlook from TD Ameritrade's Q4 earnings - TD Bank Group announced that it expects TD Ameritrade's Q4 earnings to translate into approximately C$103M reported equity in net income of an investment in TD Ameritrade for Q4, which will be reported under International Financial Reporting Standards. Excluding acquisition-related restructuring and integration charges of C$20M after-tax, adjusted equity in net income of an investment in TD Ameritrade would be C$123M. TD Bank Group will release its Q4 financial results and host an earnings conference call on November 30.
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JEC TECK | Hot Stocks07:47 EDT Jacobs Engineering selected for copper cathode production facility PFS in Peru - Jacobs Engineering Group (JEC) has been selected by Teck Resources (TECK) and Aurubis AG to perform the pre-feasibility study for a proposed copper cathode production facility in Peru. Under the terms of the contract, Jacobs will provide capital expenditure and operational expenditure estimates to Teck and Aurubis for determining project pre-feasibility. Teck and Aurubis' conceptual copper cathode production facility would incorporate their proprietary CESL copper-arsenic process technology - providing high copper and precious metal recoveries, controlled arsenic deportment, and reduced environmental impact compared to traditional pyrometallurgical smelter processing facilities in respect to air, dust and water.
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PTIE | Hot Stocks07:46 EDT Pain Therapeutics completes Phase I clinical study for PTI-125 - Pain Therapeutics announced the completion of a Phase I clinical study for PTI-125, a new experimental drug therapy to treat Alzheimer's Disease. This study investigated for the first time the safety, dosing and pharmacokinetic profile of PTI-125 in healthy human volunteers. PTI-125 was safe and well-tolerated at all doses studied. PTI-125 demonstrated favorable pharmacokinetics for further drug development. "The clinical data are encouraging," said Remi Barbier, President & CEO of Pain Therapeutics. "Given the absence of dose-limiting effects in healthy adults, an excellent non-clinical safety database, a strong scientific rationale, and multiple peer-reviewed publications and research grant awards, we are eager to move this drug program to the next level of development."
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EGL | Hot Stocks07:45 EDT Engility wins $15M contract for U.S. Navy's Frigate Program - Engility Holdings announced the company secured a $15M contract to provide the U.S. Navy's Frigate Program Office with cybersecurity engineering and architecture for the next generation frigate program. For the first time, the U.S. Navy will build cybersecurity and network capabilities into the core architecture of ships, a sizeable change from the previous standard of bolting on these features at post-production. Engility's platform cybersecurity architecture brings enhanced cyber resilience, including improved protection in the form of "digital watertight doors" to the Navy's newest shipbuilding program. Just like watertight doors ensure ship operations in the event of a water breach, digital watertight doors protect operations from data breaches.
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MMM | Hot Stocks07:44 EDT 3M up 2.2% in premarket trading after earnings beat, guidance raise
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AAXN | Hot Stocks07:44 EDT Axon announces orders from Philadelphia Police Department - Axon announced the Philadelphia Police Department's agency-wide purchase of Axon Body 2 cameras and Axon's digital evidence management system, Evidence.com. The order of 4,500 Axon body cameras was received in the Q2 and will ship in nine phases through 2021. It was approved for public release following presentation of the results of the field trial at the International Association of Chiefs of Police this week.
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CAT | Hot Stocks07:43 EDT Caterpillar up 7% to $141.34 after Q3 results top estimates
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AMTD | Hot Stocks07:43 EDT TD Ameritrade raises quarterly dividend 17% to 21c per share - During the 2017 fiscal year, the company paid $379M in cash dividends, which included four quarterly dividends of 18c per share. The company will increase its quarterly cash dividend by 3c per share, a 17T increase. It has declared a 21c per share quarterly cash dividend, payable on Nov. 21 to all holders of record of common stock as of Nov. 7.
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GM | Hot Stocks07:42 EDT GM Financial reports September quarter income from continuing operations $186M - GM Financial announced income from continuing operations of $186 million for the quarter ended September 30, 2017, compared to $134 million for the quarter ended September 30, 2016. Income from continuing operations for the nine months ended September 30, 2017 was $635 million, compared to $415 million for the nine months ended September 30, 2016. Retail loan originations were $4.7 billion for the quarter ended September 30, 2017, compared to $5.3 billion for the quarter ended June 30, 2017, and $4.2 billion for the quarter ended September 30, 2016. Retail loan originations for the nine months ended September 30, 2017 were $15.5 billion, compared to $10.6 billion for the nine months ended September 30, 2016. The outstanding balance of retail finance receivables was $32.3 billion at September 30, 2017. Operating lease originations were $6.5 billion for the quarter ended September 30, 2017, compared to $6.7 billion for the quarter ended June 30, 2017, and $6.1 billion for the quarter ended September 30, 2016. Operating lease originations for the nine months ended September 30, 2017 were $19.6 billion, compared to $19.3 billion for the nine months ended September 30, 2016. Leased vehicles, net was $41.8 billion at September 30, 2017. The outstanding balance of commercial finance receivables was $9.5 billion at September 30, 2017, compared to $9.7 billion at June 30, 2017 and $6.6 billion at September 30, 2016. Retail finance receivables 31-60 days delinquent were 3.6% of the portfolio at September 30, 2017 and 4.4% at September 30, 2016. Accounts more than 60 days delinquent were 1.6% of the portfolio at September 30, 2017 and 1.9% at September 30, 2016. Annualized net charge-offs were 1.9% of average retail finance receivables for the quarter ended September 30, 2017 and 2.5% for the quarter ended September 30, 2016. For the nine months ended September 30, 2017, annualized retail net charge-offs were 1.9%, compared to 2.4% for the nine months ended September 30, 2016. Earnings resulting from the Company's equity investment in SAIC-GMAC, a joint venture that conducts auto finance operations in China, were $41 million for the three months ended September 30, 2017 compared to $36 million for the three months ended September 30, 2016. Earnings for the nine months ended September 30, 2017 were $129 million, compared to $109 million for the nine months ended September 30, 2016.
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SKIS | Hot Stocks07:41 EDT Peak Resorts reports 9% year-over-year increase in Peak Pass sales - Peak Resorts provided updated preliminary results for pre-season sales of its 2017/2018 Peak Pass. Through the October 18, 2017 pre-season pricing deadline, Peak Pass sales increased by approximately 9% on both a unit and revenue basis, compared to the prior year. The Company noted that sales of its Explorer Pass for 7-17 year-olds and adults over 30 years of age contributed to the strong year-to-date Peak Pass sales growth.
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IMMY | Hot Stocks07:41 EDT Imprimis files Form 8-K with SEC for Surface Pharmaceuticals subsidiary - Imprimis Pharmaceuticals announced it has filed a Form 8-K with the SEC which contains a corporate presentation for its subsidiary, Surface Pharmaceuticals. Surface Pharmaceuticals intends to advance state of the art treatments for ocular surface diseases by seeking FDA approval for three drug candidates for up to five indications. Surface's drug candidates were formulated using technology covered by two issued patents and three pending patent applications. Imprimis intends to follow the template of the Eton Pharmaceuticals spin-off it completed in June of 2017, with Surface being separately managed and funded outside of Imprimis. Once funded, Imprimis expects that Kamran Hosseini, MD, PhD, an executive and scientist with a proven track record of developing and achieving FDA approval for ophthalmic drugs, will become the CEO of Surface.
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MBRX | Hot Stocks07:40 EDT Moleculin Biotech requests CTA in Poland to advance Annamycin - Moleculin Biotech announced that has submitted its request for Clinical Trial Authorization, or CTA, in Poland which, if allowed, will enable a clinical trial to study Annamycin for the treatment of relapsed or refractory acute myeloid leukemia, or AML, in Poland. This will be in addition to the previously announced allowance of its Investigative New Drug filing with the FDA in the US.
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VNCE | Hot Stocks07:40 EDT Vince Holding announces completion of reverse stock split - Vince Holding announced that at the close of business on October 23, 2017, it effected its previously-announced, 1-for-10 reverse stock split. The company's common stock will begin trading on a split-adjusted basis when the market opens on October 24, 2017. Pursuant to the Reverse Stock Split, every 10 shares of Vince's issued and outstanding common stock were automatically converted into one share of common stock. No fractional shares will be issued if, as a result of the Reverse Stock Split, a stockholder would otherwise have been entitled to a fractional share. Instead, each stockholder is entitled to receive a cash payment equal to the fraction of which such holder would otherwise have been entitled multiplied by 0.48, which is the average closing price per share on the NYSE for the five consecutive trading days immediately preceding October 24, 2017. Following the Reverse Stock Split, the number of outstanding shares of Vince's common stock was reduced by a factor of ten. The number of authorized shares of common stock has also been reduced from 250,000,000 to 100,000,000.
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ATI | Hot Stocks07:39 EDT Allegheny Technologies expects CapEx to average $100M annually - "We expect our HPMC segment results to sustain strong performance levels in commercial aerospace, with fourth quarter HPMC financial results to be modestly improved compared to the third quarter 2017. Looking ahead to 2018, we expect continued revenue growth and operating margin improvement in our HPMC segment resulting from continuing growth in demand from the aerospace market," the company said. "We remain confident about increased demand for mill products, forgings, castings, and components related to the increasing jet engine build rates over the next several years. Our focus continues on operational execution and on meeting the requirements of the aerospace production ramp. We anticipate that the 2017 financial headwinds from our castings business and completion of the start-up and qualification of our new nickel alloys powder facility will provide meaningful profit improvement opportunities in 2018. We expect the FRP segment to benefit from stabilizing and increasing raw material prices in the fourth quarter, and to be modestly profitable for the quarter and for the full year 2017. We anticipate 2017's operational improvements and product mix benefits will carry over into 2018, as we continue our efforts to position the FRP segment for sustainable profitability. Looking beyond 2017, we will be relentless in our continuing focus on enhancing ATI's technology leadership in differentiated specialty materials products; generating healthy cash flow from operations; improving our competitive cost position; and strengthening our balance sheet. We continue to expect capital expenditures to average approximately $100M annually for the next several years."
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MBVX | Hot Stocks07:38 EDT MabVax Therapeutics applies for patent for its HuMab-Tn fully-human antibodies - MabVax Therapeutics Holdings announced that the Company has filed a patent application for its series of HuMab-Tn fully-human monoclonal antibodies that target the tumor associated Thomsen-nouveau antigen that will be developed as therapeutic and diagnostic products targeting ovarian, lung and breast cancers. The Tn target is a carbohydrate antigen significantly expressed on the surface of cancer cells as a result of the transformation of normal cells into cancer cells. This patent represents another valuable antibody asset brought forward by MabVax and the third patent filed on the antibody portfolio created through the Company's unique discovery platform.
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JBLU | Hot Stocks07:35 EDT JetBlue sees capacity up 4.5%-5.5% in Q4 - Capacity is expected to increase between 4.5% and 5.5% year over year in Q4. For the FY17, JetBlue expects capacity to increase between 4.0% and 5.0%. RASM growth is expected to range between negative 3.0% and 0.0% for Q4 compared to the same period in 2016. CASM excluding fuel is expected to grow between 5.0% and 7.0% for Q4. For FY17, JetBlue expects year over year CASM excluding fuel to grow between 4.0% and 5.0%.
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GM | Hot Stocks07:34 EDT General Motors delivered 781,056 total vehicles in Q3 in the U.S. - GM delivered 781,056 total vehicles in the third quarter in the United States. In China, GM deliveries of 982,311 vehicles set a third-quarter record, up 12.3 percent versus the third quarter of 2016.
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CAT | Hot Stocks07:33 EDT Caterpillar says continues to see strength in number of industries, regions - "Caterpillar continues to see strength in a number of industries and regions, including construction in China, on-shore oil and gas in North America, and increased capital investments by mining customers. We are working with our supply chain to increase production levels to satisfy customer demand for those markets that have improved."
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GM | Hot Stocks07:32 EDT General Motors reports Q3 EBIT adjusted of $2.5B from continuing ops - Income from continuing operations impacted by $2.3B non-cash charge related to deferred tax assets no longer realizable due to Opel/Vauxhall sale. "We delivered solid results even with planned, lower third-quarter production in North America. We are managing the business with discipline to drive strong performance today, while investing in higher-return opportunities, including those that will shape the future of transportation," said Mary Barra, Chairman and CEO.
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GM | Hot Stocks07:31 EDT GM says profitable in all segments for first time since 4Q14
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GLW | Hot Stocks07:19 EDT Corning sees every business segment to meet or beat plan in Q4 - "Year-to-date achievements and fourth-quarter expectations are strong. We anticipate that every business segment will meet or beat the plan we set in January due to strong operating performance and early sales from our near-term growth investments. Additionally, we are capitalizing on trends in multiple industries that are well aligned with our core capabilities. These opportunities will drive long-term growth, and we are investing accordingly. We remain on track to deliver our Framework goals," said CFO Tony Tripeny.
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PNR | Hot Stocks07:13 EDT Pentair: Separation expected to occur in 2Q18
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PNR | Hot Stocks07:10 EDT Pentair announces new electrical company nVent - Pentair plc unveiled the name of its future Electrical company as nVent Electric plc and announced additional key leadership. The company's separation into two independent, publicly-traded companies remains on track to be completed in the second quarter of 2018. As previously announced, the future Water company will retain the Pentair name. Beth A. Wozniak, who will become CEO of nVent upon completion of the separation said, "The name 'nVent' reflects the legacy of innovation across our portfolio of brands that will serve as the foundation for the new company as we execute on our mission to connect and protect our customers with inventive electrical solutions, create safer systems and ensure a more secure world. As a high-performance electrical company, nVent is focused on improving utilization, lowering costs and maximizing customer uptime." Joining Wozniak on the nVent leadership team will be Stacy McMahan as CFO. As previously announced, Randall J. Hogan will serve as Chairman of nVent and retire as Pentair's Chairman and CEO upon the separation.
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SMTS | Hot Stocks07:09 EDT Sierra Metals updates on program at Bolivar and Cusi Mines - Sierra Metals provided an update on the operational improvement program currently taking place at its Bolivar and Cusi Mines in Mexico, focusing on modernizing operations, improving production, and reducing unit costs. A similar program was successfully implemented at the Yauricocha Mine starting in late 2015. The program to date has focused on strengthening the corporate team, adding technical expertise at the projects, improvements to production capacity through mine design, planning and sequencing, and improving metals production through improvements to the metallurgical recovery process and ore throughput.
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ABBV | Hot Stocks07:08 EDT AbbVie, Alector announce global strategic collaboration - AbbVie and Alector announced a global strategic collaboration to develop and commercialize medicines to treat Alzheimer's disease and other neurodegenerative disorders. Under the terms of the agreement, AbbVie and Alector have agreed to research a portfolio of antibody targets and AbbVie has an option to global development and commercial rights to two targets. Alector will conduct exploratory research, drug discovery and development for lead programs up to the conclusion of the proof of concept studies. Upon exercise of the option, AbbVie will lead development and commercialization activities. Alector and AbbVie will co-fund development and commercialization and will share global profits equally. Alector will receive a $205M upfront payment and a potential, future equity investment of up to $20M. Alector is a portfolio company of AbbVie Ventures.
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MYGN | Hot Stocks07:08 EDT Myriad Genetics submits BRACAnalysis CDx application for approval in Japan - Myriad Genetics announced that it has submitted BRACAnalysis CDx in Japan for review by the Pharmaceutical Medical Devices Agency and marketing approval by Ministry of Health, Labor and Welfare as a companion diagnostic to olaparib for use in HER2- metastatic breast cancer patients."This regulatory submission as a companion diagnostic for a PARP inhibitor outside the United States reflects another important major milestone as Myriad seeks to become a global leader in personalized medicine," said Mark C. Capone, president and CEO, Myriad Genetics. "We believe there is broad applicability across all healthcare systems for our suite of companion diagnostics tests to improve the quality of care and lower healthcare costs."Myriad estimates there are greater than 10,000 cases of HER2- metastatic breast cancer per year in Japan which would be eligible for testing with BRACAnalysis CDx. Myriad will support testing in the Japanese market through its United States FDA approved laboratory.
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GPK IP | Hot Stocks07:08 EDT Graphic Packaging forms partnership with IP's consumer packaging unit - Graphic Packaging (GPK) said it will create a $6B paper-based packaging company by forming a new partnership comprised of Graphic Packaging's existing businesses and International Paper's (IP) North America Consumer Packaging business. Graphic Packaging will own 79.5% of the partnership and will be the sole operator. International Paper will own 20.5% of the partnership, equivalent to a $1.14B value. The partnership will assume $660M of International Paper debt. There will be no change to Graphic Packaging's current board or leadership team. The company said, "The transaction will be completed at a compelling EV/Adjusted EBITDA multiple of 8.6x, pre-synergies, and 6.3x, post-synergies. International Paper will have a 2-year lock-up on the monetization of their partnership interest and cannot purchase GPK shares for a period of 5 years, subject to limited exceptions." It added, ""The $75 million in synergies is compelling and will be driven by cost reductions, increased paperboard integration, and procurement and mill efficiencies." The transaction has been approved by the boards of both companies and is expected to close in early 2018. International Paper's North America Consumer Packaging business is a $1.6B revenue producer of solid bleached sulfate paperboard and paper-based foodservice products. The business includes two SBS mills located in Augusta, Georgia and Texarkana, Texas with annual production capacity of 1.2 million tons of SBS, three converting facilities in the U.S. and one in the U.K.. The business is projected to generate Adjusted EBITDA of $210M in 2017.
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PEBO | Hot Stocks07:06 EDT Peoples Bancorp, ASB Financial announce definitive merger agreement - Peoples Bancorp and ASB Financial Corp, the parent company of American Savings Bank, jointly announced the signing of a definitive merger agreement. Under the agreement, ASB will merge with and into Peoples, and American will subsequently merge with and into Peoples Bank, in a transaction valued at approximately $39.6 million. According to the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, ASB shareholders will have the opportunity to elect to receive 0.592 shares of Peoples common stock for each share of ASB common stock or $20.00 cash per share with a limit of 15% of the merger consideration being paid in cash. Based on Peoples' 20-day volume weighted average closing price of $33.78 per share as of October 20, 2017, the aggregate deal value is approximately $39.6 million, or $20.00 per share. The transaction is expected to be immediately accretive to Peoples' estimated earnings before one-time costs, with a tangible book value earn back under two years, and an internal rate of return which exceeds internal thresholds. The acquisition is expected to close during the second quarter of 2018 and is subject to ASB shareholder approval, regulatory approval and other conditions set forth in the merger agreement. Peoples is being advised by Raymond James & Associates, Inc. and the law firm of Dinsmore & Shohl LLP. ASB is being advised by Boenning & Scattergood, Inc. and the law firm of Vorys, Sater, Seymour and Pease LLP.
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AVGO | Hot Stocks07:06 EDT Plume, Broadcom announce development and distribution collaboration - At the Broadband World Forum 2017, Plume Design and Broadcom announce technology development and distribution collaboration, and powerful new interference mitigation techniques uniquely enabled by the Broadcom Air-IQ and ZeroWaitDFS features. Available through the Plume Adaptive WiFi Cloud Control and Management Platform, these advanced features are the most sophisticated interference mitigation and channel selection techniques available in the industry. The cooperation between Broadcom and Plume also encompasses pre-integration of the Plume Agent onto a broad range of Broadcom silicon platforms for xPON, xDSL, Wi-Fi router and range extenders including those incorporating the new Max Wi-Fi 11ax ecosystem - which includes the flagship BCM43684 802.11ax solution targeted for the residential Wi-Fi market. The Air-IQ feature from Broadcom can scan and identify the sources of both Wi-Fi and non-Wi-Fi sources of interference, serving not only as a fast, additional trigger and input for cloud based performance optimizations, but also as a powerful support tool for carriers in identifying the specific causes of performance degradation with finer granularity. Broadcom's novel ZeroWaitDFS solution is tightly integrated into Plume's sophisticated channel management algorithms to unlock the potential of the high speed 5GHz DFS channels.
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VKTX | Hot Stocks07:06 EDT Viking Therapeutics reports 'positive' results from in vivo study of VK2809 - Viking Therapeutics announced positive final results from an eight-week study of VK2809 in an in vivo model of non-alcoholic steatohepatitis. Data from this study demonstrated statistically significant improvements in several key measures relevant to the development and progression of NASH. Additionally, an evaluation of gene expression changes demonstrated statistically significant changes in the expression of multiple genes associated with the development and progression of NASH following eight weeks of treatment with VK2809, as compared to vehicle control. The results were presented in a poster presentation at The Liver Meeting 2017, the annual meeting of the American Association for the Study of Liver Diseases, held October 20-24, 2017, in Washington, D.C. Presented study results also highlighted that treatment with VK2809 was safe and well-tolerated, with no significant changes to liver function tests observed relative to controls. Additionally, data showed that VK2809 compared favorably to the study's active control treatment, a PPAR-targeting agent that is currently in late-stage clinical development.
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WMT | Hot Stocks07:05 EDT Wal-Mart's Sam's Club announces One Day Only Savings Event - Sam's Club is making sure that those with a "holidoer" mentality can get a head start on preparing for their festive feasts, parties and present buying. Kicking off in early November, "members will have exclusive access to an array of events that will offer savings on holiday meals, top gift items and decor essentials. First on the list? The One Day Only Savings Event, taking place on Saturday, Nov. 11. In-club deals start at 7 a.m. and online-only specials will be available that day starting at 12:01 a.m. EST at SamsClub.com/onedayonly. Beyond the One Day Event, there are numerous other November events and previews during which holidoers can find a treasure trove of unexpected finds, tastes-like homemade meals and gifts for families and friends: Black Friday specials will begin online at 12:01 a.m. EST on Thanksgiving Day, Thursday, Nov. 23 at SamsClub.com and in clubs Friday, Nov. 24 at 7 a.m. Black Friday deals will be available to members throughout that weekend, while supplies last. Cyber Week allows members to shop from their beds on SamsClub.com starting at 12:01 a.m. EST on Monday, Nov. 27 and continue through Saturday, Dec. 2 with new offers on top brands added daily. Members can also utilize the Club Pickup service. Similar to a personal shopper, Club Pickup allows members to order thousands of items - from paper towels to fresh produce to pre-lit ornaments - and have them ready for pick up at all U.S. Sam's Club locations at no additional cost."
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BIIB | Hot Stocks07:04 EDT Biogen CEO says encouraged by strength of Spinraza launch - "Our multiple sclerosis portfolio demonstrated resilience in an increasingly competitive market, and we're encouraged by the strength of SPINRAZA's global launch. We had a solid third quarter, and over the balance of the year we anticipate seasonal pressure as well as increased spending as we invest behind our strategic priorities. We believe that our new agreements with Eisai and Neurimmune will improve our long-term economics of aducanumab. We are pleased by Eisai's decision to exercise their option on aducanumab, demonstrating their confidence in the asset. The region-based profit split with Eisai is designed to leverage each company's respective geographic strengths and infrastructures. We made important progress advancing our pipeline, including initiating new trials in Alzheimer's disease and epilepsy and completing enrollment of studies in stroke and Parkinson's disease. In the next 12 months, we expect data readouts from multiple programs across our core and emerging growth areas," said Biogen's CEO Michel Vounatsos.
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IP GPK | Hot Stocks07:04 EDT International Paper combines packaging unit with Graphic Packaging in $1.8B deal - International Paper (IP) signed a definitive agreement to contribute its North America Consumer Packaging business to Graphic Packaging (GPK) in a transaction valued at $1.8B. IP plans to use $660M in cash proceeds from a loan being assumed by Graphic Packaging to pay down existing debt. IP will also receive a 20.5% ownership interest valued at $1.14B in a subsidiary of Graphic Packaging that will hold the assets for the combined business. The transaction is expected to close in early 2018.
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GPK IP | Hot Stocks07:03 EDT Graphic Packaging to form new partnership with International Paper - Graphic Packaging Holding Company (GPK) will create a $6B paper-based packaging company by forming a new partnership comprised of Graphic Packaging's existing businesses and International Paper's (IP) North America Consumer Packaging business. Graphic Packaging Holding Company will own 79.5% of the partnership and will be the sole operator. International Paper will own 20.5% of the partnership, equivalent to a $1.14B value. The partnership will assume $660M of International Paper debt. There will be no change to Graphic Packaging's current Board of Directors or leadership team. The transaction will be completed at a compelling EV/Adjusted EBITDA multiple of 8.6x, pre-synergies, and 6.3x, post-synergies. International Paper will have a 2-year lock-up on the monetization of their partnership interest and cannot purchase GPK shares for a period of 5 years, subject to limited exceptions.The transaction has been approved by the Board of Directors of both companies. The transaction is subject to standard closing requirements and regulatory review and is expected to close in early 2018.
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FB V | Hot Stocks07:03 EDT Facebook joins Visa Digital Enablement Program - Visa (V) announced that Facebook (FB) has joined the Visa Digital Enablement Program, which offers a commercial framework to make it easier for partners to access Visa's token services and other digital capabilities globally. Facebook will use the Visa Token Service to help accelerate the availability of secure, payment-enabled services through its digital properties.
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BIIB | Hot Stocks07:02 EDT Biogen reports Q3 Tecfidera U.S. revenue $836M, Spinraza U.S. revenue $198M - In the third quarter of 2017, TECFIDERA revenues comprised $836M in sales in the U.S. and $233M in sales outside the U.S. In the third quarter of 2016, U.S. TECFIDERA revenues benefited by approximately $40M to $50M due to inventory build in the channel, affecting the year over year comparison. Inventory levels in the third quarter of 2017 for TECFIDERA in the U.S. were relatively flat versus the second quarter of 2017. In the third quarter of 2017, SPINRAZA revenues comprised $198M in sales in the U.S. and $73M in sales outside the U.S. Inventory levels for SPINRAZA in the U.S. were relatively flat versus the second quarter of 2017, as compared to a $30M increase in the second quarter of 2017. Outside the U.S., SPINRAZA revenues were primarily from Germany and Turkey.
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GPK IP | Hot Stocks07:02 EDT Graphic Packaging to form new partnership with International Paper
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EXK | Hot Stocks06:57 EDT Endeavour Silver verifies high grade silver mineralization in Veta Colorada - Endeavour Silver announces that exploration drilling on the Parral property in Chihuahua State, Mexico has verified high grade silver mineralization within the Argentina-Remedios area of the Veta Colorada, which was drilled but never mined by a previous owner, IMMSA. Industrial Minera Mexico, S.A. de C.V. operated a high grade silver mine on the Veta Colorada until 1990 and on closing left behind a 32.1 million oz historical silver resource contained in 4.0M tonnes grading 248.5 grams per tonne. A qualified person has not done sufficient work to classify this historical estimate as a current mineral resource, Endeavour has not verified the historical resource and is not relying on it as a current mineral resource. Twenty-one drill holes totaling 6,928 metres of core were drilled to test the portion of the historic resource located within the Argentina-Remedios area of the Veta Colorada. The drill holes were spaced at approximately 100 m centres over an area 400 m long by 400 m deep. Drilling highlights include 457 gpt silver over a 9.3 m true width in hole CV26.5-1. Another high grade intercept assayed 4,641 gpt silver over a 2.3 m true width in hole CV27-2.
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DSGX | Hot Stocks06:47 EDT Descartes Systems: McCombs Supply successfully using Descartes ShipRush solution - Descartes Systems announced that Lancaster, PA-based McCombs Supply, a successful retailer of appliance parts, is using its cloud-based Descartes ShipRush solution for multi-carrier parcel shipping. Using Descartes ShipRush, McCombs Supply has grown ecommerce shipping volumes by 600% and reduced order fulfilment times by 30% to contractors, service technicians, housing developers, large institutions and consumers.
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ZEAL | Hot Stocks06:44 EDT Zealand Pharma granted orphan drug designation for glepaglutide by FDA - The FDA Office of Orphan Products Development, or OOPD, has granted an orphan drug designation to glepaglutide for the treatment of the rare disease short bowel syndrome, or SBS. Glepaglutide is a Zealand-invented long-acting GLP-2 analog that may offer a treatment option for patients with reduced or complete loss of intestinal function. Glepaglutide has been shown to reduce fecal wet weight output as well as indicated increases in both energy, fluid and electrolyte absorption in SBS patients in a Phase 2 trial. Interactions with U.S. and EU regulatory authorities are planned with the aim of moving glepaglutide into Phase 3 clinical trials in 2018.
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INFY | Hot Stocks06:42 EDT Infosys: Process of identifying next CEO initiated, 'progressing well' - The process of identifying the next CEO and shareholder consultation outreach have been initiated and are progressing well, Infosys said.
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LLY | Hot Stocks06:41 EDT Eli Lilly down just under 1% after reporting Q3 results
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LLY | Hot Stocks06:41 EDT Eli Lilly reports Q3 pharmaceutical revenue up 10% - Eli Lilly reports pharmaceutical revenue in Q3 grew 10%. New product revenue, composed of Trulicity, Basaglar, Taltz, Jardiance, Lartruvo, Cyramza, Olumiant and Portrazza, drove 14% volume growth and represented nearly 22% of total revenue.
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INFY | Hot Stocks06:41 EDT Infosys board reaffirms that there is no merit to allegations of wrongdoing - Over the past eight weeks, members of the management team and the Committee of Directors undertook a comprehensive strategy refresh exercise. With the objective of outlining a sharpened strategic direction, they reviewed all programs across the organization, accelerated execution plans and prioritized key areas of investments across the services and software portfolios. As previously indicated, the Chairman has conducted a review of all the external investigations into certain anonymous complaints the Company had previously received. The review covered a range of matters described below, including the acquisition of Panaya which was completed by the Company in February 2015 and the severance payments to the former CFO. After careful consideration led by our Chairman, the Board reaffirms the previous findings of external investigations that there is no merit to the allegations of wrongdoing.
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VISI | Hot Stocks06:39 EDT Volt Information Sciences to sell testing business for $66.4M to Keywords - Volt Information Sciences announced that it has entered into a definitive agreement to sell its quality assurance testing business, a part of its Technology Outsourcing Services and Solutions segment. The buyer, Keywords International, is a leading international technical services provider to the global video games industry. The Business, known in the industry as VMC, provides production development, QA testing and customer support to companies primarily in the video gaming and mobile industries. The sale will not include the call center services unit of the Company's Technology Outsourcing Services and Solutions segment, which Volt will continue to own and operate. Under the terms of the Stock Purchase Agreement, Volt will receive $66.4M in cash at closing, subject to customary working capital adjustments. The sale is conditioned upon Keywords' satisfaction of a financing contingency to fund the purchase price.
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LLY | Hot Stocks06:38 EDT Eli Lilly sees no product supply risk, significant financial impact from storms - Following the impact of Hurricane Maria, the company has accounted for all employees in Puerto Rico, and its manufacturing sites had minimal damage. The company's inventory strategy for products is designed to protect against this type of event, and Lilly sees no product supply risk or other significant financial impact at this time.
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AXE | Hot Stocks06:38 EDT Anixter sees FY17 organic sales growth on a per day basis 3.0%-3.5% - The company said, "Year-to-date, organic sales growth on a per day basis of 3.2% reflects strong 11.2% per day growth in our UPS segment, combined with low growth in both our NSS and EES segments. While industry growth in our end markets remains slow, especially in the US, we have experienced solid performance in our day-to-day business, in small and mid-sized projects, and in our international business. While the recovery in large capital project activity in North America has been slower than we expected, based on improving backlog trends and pipeline activity, we are cautiously optimistic that project activity will accelerate over the next several quarters," commented Bill Galvin, President and Chief Operating Officer. "As we enter the final quarter of 2017, our focus remains on our growth initiatives which include global accounts, synergistic sales and new product initiatives. Reflecting our current sales and backlog trends through early October, we expect fourth quarter 2017 organic sales growth in the 2.5%-3.5% range. For the FY17 we now expect organic sales growth on a per day basis in the 3.0%-3.5% range."
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LLY | Hot Stocks06:37 EDT Eli Lilly confirms workforce reductions impacting about 3,500 positions - Eli Lilly announced actions to streamline operations to more efficiently focus resources on developing new medicines and to improve its cost structure. Global workforce reductions, including those from a U.S. voluntary early retirement program, are expected to impact approximately 3,500 positions. Annualized savings of approximately $500M will be about equally split to improve the company's cost structure and reinvest in the business, including product launches and clinical development for new indications and line extensions. Lilly confirmed these savings would improve upon its previous commitment and now expects to achieve an OPEX-to-revenue ratio of 49% or less in 2018.
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FITB | Hot Stocks06:36 EDT Fifth Third reports Q3 book value per share of $21.30, up 4% from both Q2
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VICL | Hot Stocks06:33 EDT Vical announces joint development program with AnGes - Vical announced that it is pursuing early stage development of a novel treatment for chronic hepatitis B virus infection based on its DNA and lipid-delivery technologies. This development effort is being conducted in collaboration with Vical's strategic partner, AnGes, Inc of Osaka, Japan. The initial stage of this program will be to demonstrate preclinical proof of concept for inhibiting HBV infection in a human liver model in the second half of 2018. The ultimate aim of this program would be to demonstrate eradication of persistent HBV infection in CHB patients. AnGes has provided partial funding for the initial stage of this program and, if successful, Vical expects that AnGes will continue to participate in the funding of the program. AnGes has been granted the right of first refusal to negotiate with Vical for an exclusive license to develop and commercialize this therapy in Japan. Vical intends to first establish in vitro proof of concept against HBV infection using an HBV-producing cell line followed by in vivo testing in an elaborate preclinical model of HBV infection which enables human hepatocytes to be infected with HBV and then treated and monitored for suppression of several virologic markers including reduction in covalently-closed circular (ccc) DNA levels in the livers. Should Vical establish in vivo proof of concept, it intends to advance the product towards Phase 1 testing, ideally in CHB patients, to achieve clinical proof of concept at an early stage of development. Results of the preclinical proof of concept studies are anticipated in the second half of 2018.
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LLY | Hot Stocks06:32 EDT Eli Lilly reviewing strategic options for Elanco Animal Health business - David Ricks, Lilly's chairman and CEO said, "We are also announcing a strategic review of our Elanco Animal Health business. Elanco has developed into a premier animal health company, and has been an important growth driver and source of revenue diversification for Lilly. Through acquisitions and organic growth, we've grown Elanco to a size and scale that now allows us to consider a variety of options to maximize future value."
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BIIB | Hot Stocks06:30 EDT Biogen announces amended agreement with Neurimmune Holding - Biogen announced that it has increased the profit potential on aducanumab, its Phase 3 investigational treatment for early Alzheimer's disease, by reducing the potential royalty payment on potential commercial sales of aducanumab to Neurimmune Holding AG. In exchange for a 15% reduction in the previously negotiated royalty rates, Biogen agreed to make a one-time $150M payment to Neurimmune Holding AG. Biogen licensed the worldwide rights to aducanumab from Neurimmune Holding AG in 2007 and is responsible for its development and the commercialization. As part of this amended agreement, Biogen also has an option to further reduce the royalty owed on potential commercial sales of aducanumab by an additional 5 percent in exchange for an additional one-time $50M payment to Neurimmune Holding AG.
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PII | Hot Stocks06:15 EDT Polaris Industries CEO: 'Strong retail growth' in No. America, International - "Our emphatic return to profitable growth in the third quarter was a testament to the power of the Polaris brand, the strength of our dealer network and the competitive drive of the Polaris team. During the quarter, strong retail growth in both North America and nearly all of our International markets drove record sales and highlighted our ongoing product innovation, improving product quality and sharpened execution. We delivered North American unit retail sales growth of 13 percent and overall Company sales growth of 25 percent, about half of which was organic, while lowering North American dealer inventory seven percent year-over-year. Results were strong throughout our portfolio, led by Indian Motorcycles' exceptional performance as they accelerated share gains and outpaced a declining North American motorcycle market while also delivering strong growth in Europe, Australia and Asia. I am particularly proud of the improved performance from our Off-Road Vehicle business, which was fueled by a well-planned and executed Factory Authorized Clearance sale and the strong reception of our model year 2018 introductions. Encouragingly, RZR retail sales were especially strong in the quarter, and we had our best ATV retail quarter in two years. Delivering such strong results, while also launching the all new RANGER XP 1000, the best utility side-by-side ever built, is a fitting way for Matt Homan to wrap up his influential 15 year run with Polaris. I want to thank Matt for his significant contribution and wish him continued success in his career. Welcoming Chris Musso earlier this month was also a major victory and we are excited to have him grab the reins of our industry-leading ORV business," commented Scott Wine, Chairman and CEO of Polaris Industries.
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CTRV | Hot Stocks06:13 EDT ContraVir Pharmaceuticals to use preclinical services from NIAID - ContraVir Pharmaceuticals announced that it will utilize preclinical services from the National Institute of Allergy and Infectious Diseases, or NIAID, part of the National Institutes of Health, or NIH, to characterize the antiviral activity of CRV431 in a humanized mouse model of hepatitis B virus infection.NIAID-funded contractor KMT Hepatech provides in vivo research services utilizing the proprietary platform technology of the KMT Mouse, also known as the chimeric mouse.
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ACHN | Hot Stocks06:10 EDT USPTO grants composition of matter patent to Achillion for ACH-4471 - Achillion Pharmaceuticals announced that the U.S. Patent and Trademark Office has issued a U.S. Patent to Achillion for ACH-4471. U.S. Patent No. 9,796,741, entitled "Aryl, Heteroaryl, and Heterocyclic Compounds for Treatment of Complement Mediated Disorders," has been granted with claims to compositions of matter for ACH-4471 and additional compounds that inhibit complement factor D activity, a key mediator in the complement alternative pathway. This issued patent will be the eighth patent that the USPTO has granted to Achillion this year on its complement factor D portfolio. Achillion currently has over one hundred global patent applications and patents covering its complement-related research program.
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SWK | Hot Stocks06:08 EDT Stanley Black & Decker up 1% after reporting Q3 results
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YNDX | Hot Stocks06:06 EDT Yandex raises FY17 revenue view to 22%-23% - Yandex sees FY17 ruble-based revenue view up 22%-23%. The company added "This outlook reflects our current view, based on the trends that we see at this time, and may change in light of market and economic developments in the business sectors and jurisdictions in which we operate."
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PII | Hot Stocks06:05 EDT Polaris Industries sees $10-$15M in costs from manufacturing network realignment - Polaris announced on April 24, 2017 that it was making changes to its network to consolidate production of like products and better leverage plant capacity. Changes include discontinuing manufacturing at its plant in Milford, Iowa, and transferring Milford production to existing Polaris facilities in Huntsville, Ala.; Roseau, Minn.; and Anaheim, Calif. Additionally, the Company plans to transfer fabrication operations for its Pro Armor aftermarket products from its facility in Riverside, Calif., to its recently acquired Transamerican Auto Parts facility in Chula Vista, Calif. Beginning in the second quarter of 2017, costs associated with the manufacturing realignment, anticipated to be in the range of $10M-$15M, are recorded in the income statement within the respective gross profit and operating expenses. These costs are excluded from Polaris' 2017 sales and earnings guidance on a non-GAAP basis.
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PII | Hot Stocks06:03 EDT Polaris Industries to record $80M-$90M of costs from wind down of Victory - Polaris announced on January 9, 2017 its intention to wind down its Victory Motorcycles operations. The decision is expected to improve the long-term profitability of Polaris and its global motorcycle business, while materially improving the Company's competitive position in the industry. The Company will record costs, anticipated to be in the range of $80M-$90M, associated with supporting Victory dealers in selling their remaining inventory, the disposal of factory inventory, tooling, and other physical assets, and the cancellation of various supplier arrangements. Beginning in the first quarter of 2017, these costs are recorded in the 2017 income statement within respective sales, gross profit and operating expenses. These costs are excluded from Polaris' 2017 sales and earnings guidance on a non-GAAP basis.
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FB | Hot Stocks06:02 EDT Facebook not planning to ask publishers to pay for distribution in news feed - Adam Mosseri, Head of News Feed at Facebook, said in a social media post, "There have been a number of reports about a test we're running in Sri Lanka, Bolivia, Slovakia, Serbia, Guatemala, and Cambodia. Some have interpreted this test as a future product we plan to deliver globally. We currently have no plans to roll this test out further. We always listen to our community about ways we might improve News Feed. People tell us they want an easier way to see posts from friends and family. We are testing having one dedicated space for people to keep up with their friends and family, and another separate space, called Explore, with posts from pages. The goal of this test is to understand if people prefer to have separate places for personal and public content. We will hear what people say about the experience to understand if it's an idea worth pursuing any further. There is no current plan to roll this out beyond these test countries or to charge pages on Facebook to pay for all their distribution in News Feed or Explore. Unfortunately, some have mistakenly made that interpretation - but that was not our intention. It's also important to know this test in these six countries is different than the version of Explore that has rolled out to most people. Outside of the above countries, Explore is a complementary feed of popular articles, videos, and photos automatically customized for each person based on content that might be interesting to them. We've heard from people that they want an easy way to discover relevant content from pages they haven't connected with yet. While Explore includes content from relevant pages, posts from pages that people like or follow will continue to appear in News Feed." Reference Link
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MSFT | Hot Stocks05:59 EDT Microsoft drops suit against DOJ as DOJ acts to curb overuse of secrecy orders - Microsoft President and Chief Legal Officer Brad Smith said in a blog post that "Today marks another important step in ensuring that people's privacy rights are protected when they store their personal information in the cloud. In response to concerns that Microsoft raised in a lawsuit we brought against the U.S. government in April 2016, and after months advocating for the United States Department of Justice to change its practices, the Department of Justice today established a new policy to address these issues. This new policy limits the overused practice of requiring providers to stay silent when the government accesses personal data stored in the cloud. It helps ensure that secrecy orders are used only when necessary and for defined periods of time. This is an important step for both privacy and free expression. It is an unequivocal win for our customers, and we're pleased the DOJ has taken these steps to protect the constitutional rights of all Americans. As we said when we filed the lawsuit, we believe customers have a constitutional right to know when the government gets their email or documents, and we have a right to tell them. These are important principles established by both the Fourth and First Amendments to the U.S. Constitution.We believe strongly that these fundamental protections should not disappear just because customers store their personal information in the cloud rather than in file cabinets or desk drawers. We were not alone in this belief, as a diverse and broad array of companies, academics, business groups, civil liberties organizations and former law-enforcement officials signed amicus briefs in support of our position in the case. The new policy came after months of Microsoft working for change, both in its lawsuit and in public fora. As a result of the issuance of this policy, we are taking steps to dismiss our lawsuit." Reference Link
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KBR | Hot Stocks05:58 EDT KBR awarded project management services contract by OZ Minerals - KBR announced it has been awarded a contract by OZ Minerals for project management services for the development of its Carrapateena copper-gold project located in South Australia. Under the contract, KBR will provide professional services for the execution phase of the project as part of an integrated project team. KBR had previously been supporting OZ Minerals to finalize its early contractor involvement strategy and associated feasibility study activities.
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NAT | Hot Stocks05:56 EDT Nordic American Tankers signs main terms for financing outstanding commitments - Nordic American Tankers announced that it has signed the main terms with a major international financial institution for the financing of the outstanding commitments, due on delivery, for the three Suezmax newbuildings to be delivered during the latter part of 2018. We expect the agreement to be fully executed about mid-November 2017 at which time the full financing of the newbuildings will be completed. The company also commented on sulphur requirements: "Recently, we have seen comprehensive discussions about the new sulphur requirements for bunker consumption on ships to be in effect from 2020. Our 33 Suezmax tankers are fully compliant to run on 0.10% sulphur content or less. Therefore, going forward we do not see that this new requirement is an issue for NAT."
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APDN | Hot Stocks05:54 EDT Applied DNA Sciences signs CertainT license agreement with Palmetto Synthetics - Applied DNA Sciences has signed a new CertainT trademark license agreement with Palmetto Synthetics. Palmetto's mission "is to be the leading global innovator and provider of specialty synthetic fiber while fostering a culture of integrity, dignity and respect for their team members, business partner, community and environment." The newly signed CertainT trademark licensing agreement enables Palmetto to reach their goals of bringing transparency to their own manufacturing processes, and also to provide their customers with traceability and trust in the original tagged synthetic fiber.
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BHVN | Hot Stocks05:50 EDT Biohaven Pharmaceutical receives FDA may proceed letter for trigriluzole trial - Biohaven Pharmaceutical and its wholly owned subsidiary, Biohaven Pharmaceuticals, Inc., announced that the FDA has notified the company that it may proceed with its clinical investigation of trigriluzole, a novel glutamate modulator, as a potential treatment for patients with obsessive-compulsive disorder, or OCD. The FDA "May Proceed Letter" was received following Biohaven's filing of an investigational new drug, or IND, application for this program, and the company expects to commence a Phase 2/3 clinical trial of trigriluzole in OCD in the current quarter.
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ADTN | Hot Stocks05:48 EDT ADTRAN enters global agreement with CCS - ADTRAN announced an agreement with CCS to deliver self-organizing mmWave technology for backhaul and access capabilities to wired and wireless operators as they embrace 5G densification architectures and significantly higher access speeds. The global agreement with CCS, a UK-based pioneer in self-organizing 5G mmWave backhaul and Gigabit access, forms the latest development in ADTRAN's Mosaic Open Network Alliance initiative. It complements ADTRAN's existing SD-Access based NG-PON2 solution for 5G backhaul, featuring non-service impacting wavelength agility and ultra-low latency to safeguard the extraordinary SLA performance demands of 5G, IoT and other mission-critical services.
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HES | Hot Stocks05:45 EDT Hess Corp. sees cost savings over $150M starting in 2019 - Starting in 2020, cash unit costs are expected to be reduced by approximately 30% from 2017 levels. This reduction results from investment in higher return growth assets, the sale of higher cost assets and a cost reduction program that is expected to deliver annual cost savings of more than $150M starting in 2019.
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HES | Hot Stocks05:44 EDT Hess Corp. sells interest in Norway, begins process to sell interests in Denmark - Hess Corporation announced several additional steps in the continued execution of its strategic plan to further focus the company's portfolio and allocate capital to higher return assets: An agreement to sell its oil and gas interests in Norway for total proceeds of $2B; Commencement of a process to sell its interests in Denmark; Implementation of a cost reduction program expected to deliver annual cost savings of more than $150M starting in 2019. "With the continued success of our asset sale program, we are focusing our portfolio on higher return assets and reducing our breakeven oil price," CEO John Hess said. "Proceeds from these asset sales, along with cash on the balance sheet, will prefund development of our world class investment opportunity in offshore Guyana, where we have participated in one of the world's largest oil discoveries of the past decade - positioning our company to deliver more than a decade of cash generative growth and significant value for our shareholders." The sale of its interests in Norway combined with the company's previously announced divestitures of its enhanced oil recovery assets in the Permian Basin and interests in Equatorial Guinea have captured approximately $3.25B in cash proceeds year to date. These reshaping moves including the planned sale of interests in Denmark will also extinguish approximately $3.2B in future abandonment liabilities. In addition, with a portion of these cash proceeds, we expect to reduce Hess Corporation debt by $500M in 2018. Together with the planned $150M annual cost reduction program, these actions are expected to reduce cash unit production costs by approximately 30% - to less than $10 per BOE - by 2020. Hess has entered into an agreement to sell its subsidiary Hess Norge, which owns interests in the Valhall and Hod fields in Norway, to Aker BP ASA for total proceeds of $2 billion, effective January 1, 2017. The Valhall and Hod fields produced an average of 26,000 barrels of oil equivalent per day net to Hess over the first six months of 2017. Hess holds a 64.05 percent interest in Valhall and a 62.5 percent interest in Hod. The sale is subject to customary conditions for completion, including approval by the Ministry of Oil and Energy, Ministry of Finance and relevant competition clearance and is expected to be completed by year end 2017. In addition, Hess will commence a process to sell its interests in Denmark, where it holds a 61.5 percent interest in the South Arne Field. This sales process is expected to be completed in 2018. The South Arne Field produced an average of 11,000 barrels of oil equivalent per day net to Hess in the first six months of 2017.
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NVS | Hot Stocks05:42 EDT Novartis reports Q3 Alcon sales up 7% - Novartis provided the following Q3 division sales metrics: Alcon sales was up 7% with strong growth in Surgical and continued growth in Vision Care. Cosentyx showed strong growth across all indications. Entresto grew driven by improved access and U.S. sales force expansion. Excluding Gleevec/Glivec, Oncology grew 11%. Sandoz grew 1% driven by growth outside the U.S., fully offsetting U.S. price pressure.
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ALXN | Hot Stocks05:25 EDT Alexion announces FDA approval of Soliris - Alexion Pharmaceuticals announced that the FDA has approved Soliris as a treatment for adult patients with generalized myasthenia gravis, or gMG, who are anti-acetylcholine receptor, or AchR, antibody-positive. In the Phase 3 REGAIN study and its ongoing open-label extension study, Soliris demonstrated treatment benefits for patients with anti-AchR antibody-positive gMG who had previously failed immunosuppressive treatment and continued to suffer from significant unresolved disease symptoms, which can include difficulties seeing, walking, talking, swallowing and breathing. These patients are at an increased risk of disease exacerbations and crises that may require hospitalization and intensive care and may be life-threatening. These patients represent approximately 5%-10% of all patients with MG.
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FFKT | Hot Stocks05:23 EDT Farmers Capital Bank raises quarterly dividend by 2.5c to 12.5c per share - Farmers Capital Bank announced that its board approved a quarterly cash dividend on the company's common stock of 12.5c per share. This represents an increase of 2.5c per share or 25% over the previous dividend. The quarterly 12.5c per share dividend represents an annualized yield of 1.14% based on the closing price of $43.80 on October 20. The dividend is payable on January 2, to shareholders of record at the close of business on December 1. The company currently has 7.52M shares outstanding.
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VBTX | Hot Stocks05:21 EDT Veritex announces branch office sales, terms not disclosed - Veritex Holdings announced that Veritex Community Bank entered into a Purchase and Assumption Agreement with Horizon Bank, SSB to sell certain assets associated with the Austin and Cedar Park branches located in Austin, Texas. The pending sale is expected to close in Q1 of 2018, subject to the necessary regulatory approvals. Customers of these branches will receive additional information regarding the impact of the sale in the near future. After the sale close, Veritex will have no branch offices in these communities. Terms of the transaction were not announced. After the sale of the Austin branches, Veritex will operate 17 branch locations throughout the Dallas-Fort Worth metroplex, two branches in the Houston metropolitan area and one mortgage office.
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