Stockwinners Market Radar for January 12, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
PEG | Hot Stocks17:40 EDT PSE&G files rate review, requestes roughly 1% increase - PSE&G filed its first regulatory rate review in more than eight years, asking for a small adjustment in electric and gas base delivery rates that would increase overall revenues by approximately 1%. PSE&G is required to file the rate review as a condition of the approval by the New Jersey Board of Public Utilities of the company's Energy Strong program in 2014. If approved as filed, the typical combined residential electric and natural gas customer will see an approximate 1% increase or about $19.70 in their annual bill. Even with this proposed increase, bills for the typical residential customer are expected to be more than 15% lower than they were in 2010.
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TSRO | Hot Stocks17:32 EDT TESARO updates VARUBI injectible emulsion package insert - TESARO announced that it has updated the VARUBI injectable emulsion package insert in collaboration with the U.S. Food and Drug Administration. VARUBI injectable emulsion is a substance P/neurokinin receptor antagonist indicated for the prevention of delayed nausea and vomiting associated with chemotherapy in adults. The changes to the labeling include modifications to the CONTRAINDICATIONS, WARNINGS and PRECAUTIONS, and ADVERSE REACTIONS sections. Following its introduction in late November 2017, TESARO estimates that at least 7,000 doses of VARUBI injectable emulsion have been administered to patients receiving emetogenic chemotherapy in the United States. Anaphylaxis, anaphylactic shock and other serious hypersensitivity reactions have been reported in the postmarketing setting, some requiring hospitalization. These reactions have occurred during or soon after the infusion of VARUBI injectable emulsion. Most reactions have occurred within the first few minutes of administration.
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NOC | Hot Stocks17:25 EDT Northrop Grumman awarded $172.7M government contract - Northrop Grumman, San Diego, California, has been awarded a $172,669,763 cost-plus-fixed-fee contract for Battlefield Airborne Communications Node. This contract provides BACN payload operation and support for payload equipment and services. Work will be performed in San Diego, California, and overseas locations, and is expected to be complete by Jan. 23, 2019. Fiscal 2018 overseas contingency operation and maintenance funds in the amount of $56,000,000 are being obligated at the time of award. This award is the result of a sole-source acquisition. Air Force Life Cycle Management Center, Hanscom Air Force Base, Massachusetts, is the contracting activity.
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RTN | Hot Stocks17:24 EDT Raytheon awarded $641.8M government contract - Raytheon Integrated Defense Systems, Woburn, Massachusetts, is being awarded an indefinite-delivery/indefinite-quantity contract with cost-plus-incentive-fee and cost-plus-award-fee line items with a stated maximum value of $641,758,000. Under this contract, the contractor will perform Ballistic Missile Defense System test related activities for multiple radar platforms that includes planning, executing, and analyzing sensor performance in BMDS flight tests and ground tests for each test event defined in the BMDS integrated master test plan. The work will be performed in Huntsville, Alabama; and Colorado Springs, Colorado. The ordering period is from Jan. 12, 2018, through Jan. 11, 2023, with a one year option period provided in the contract. The Missile Defense Agency, Huntsville, Alabama, is the contracting activity.
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GPI | Hot Stocks17:19 EDT Group 1 Automotive awards $500 bonus to U.S. dealership employees - Group 1 Automotive announced a $500 cash bonus for non-management dealership employees and operational support staff in the U.S. The Company owns and operates 115 dealerships nationwide. "As we were in the process of reviewing the opportunities the new tax reform law creates for us to better our business, we decided the best investment we could make was in the people serving as the face of our company every day," said Earl J. Hesterberg, Group 1's president and chief executive officer. "For almost 13 years, I have watched our loyal dealership operating and support teams move cars in the 100-degree heat of the Texas summer, clean snow off of new car inventory in a 10-degree Boston winter, and spend long days in front of a computer screen processing documents and communicating with our customers. These people are the heart of the Company. They generate our profits and my management team and I feel that the financial benefit of the new tax law creates an opportunity for us to say thank you to these key teammates." This bonus to qualified employees will be paid on March 1, 2018. Group 1 is assessing the full impact of the tax reform law on the company's operations.
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HOMB | Hot Stocks17:16 EDT Home Bancshares to distribute one-time bonus of $500 to certain employees - Home BancShares announced plans to distribute a one-time bonus of $500 for more than 850 full-time tenured employees. The actions are in appreciation for the commitment employees show in supporting customers and building stronger communities. Approximately 53% of full-time employees will receive this one-time bonus which is expected to be distributed during January 2018. Employees with base salaries exceeding $50,000 are excluded from this compensation.
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KALA | Hot Stocks17:11 EDT Orbimed Advisors reports 10.98% passive stake in Kala Pharmaceuticals - In a regulatory filing, Orbimed Advisors disclosed a 10.98% stake in Kala Pharmaceuticals, representing 2,692,715 shares. The filing does not allow for activism.
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CASI | Hot Stocks17:06 EDT Wei-Wu He reports 9.1% stake in CASI Pharmaceuticals
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MDP TIME | Hot Stocks16:55 EDT Meredith's acquisition of Time Inc. receives antitrust clearance - Meredith (MDP) announced that early termination of the waiting period has been granted under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 applicable to its acquisition of Time Inc. (TIME). As a result, Meredith plans to complete the transaction - first announced on November 26, 2017 - within the next 30 days, subject to satisfaction of the other terms and conditions of the tender offer.
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CTLT PRGO | Hot Stocks16:51 EDT Uwe Roehrhoff to resign from Catalent board - According to a regulatory filing, Uwe Roehrhoff, a member of the board of directors of Catalent (CTLT), has notified the secretary of the company of his intention to resign from the board and its audit committee effective February 4, 2018 due to his acceptance of a new, full-time position at another company. Roehrhoff's resignation is not due to any disagreement with the board, the company or its management. Earlier this week, Perrigo (PRGO) named Uwe Roehrhoff its president and CEO.
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LMAT | Hot Stocks16:31 EDT Conestoga Capital Advisors reports 6.89% passive stake in LeMaitre - In a regulatory filing, Conestoga Capital Advisors disclosed a 6.89% stake in LeMaitre, representing 1,327,376 shares. The filing does not allow for activism.
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FCAU | Hot Stocks16:25 EDT Fiat Chrysler to recall roughly 154,000 minivans to update certain software - Fiat Chrysler US said it is voluntarily recalling an estimated 153,859 minivans in the U.S. to update certain software. An investigation by FCA US has discovered that under a rare set of conditions, a vehicle's engine control module may incorrectly assess the engine's operating status. If this occurs, the engine may stall. Most such events known to FCA US reportedly occurred at idle or while starting, turning, or driving at low, steady speeds. Further, most were singular events that occurred over thousands of miles of travel, and customers were able to restart their vehicles immediately afterward. The company is aware of a single potentially related accident. FCA US is unaware of any potentially related injuries. The campaign is limited to model-year 2017 Chrysler Pacifica minivans; hybrid versions are unaffected.
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CMG | Hot Stocks16:24 EDT Chipotle enters retention pacts with CFO, others - On January 9, Chipotle Mexican Grill entered into retention agreements with certain employees, including CFO Jack Hartung and Chief Marketing and Strategy Officer Mark Crumpacker. The retention agreements are intended to encourage the employees' continued service to Chipotle during the pendency of a search for Chipotle's next CEO, and were approved by the Compensation Committee of Chipotle's Board of Directors.
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LYV | Hot Stocks16:18 EDT Live Nation acquires Songkick assets - Live Nation Entertainment and Complete Entertainment Resources Group, Inc. and related entities formerly known as Songkick, announced that Live Nation has acquired certain assets from CERG, including CERG's ticketing commerce platform, anti-scalping algorithm, API applications and patent portfolio. The two companies also announced that they have agreed to a settlement resolving litigation that was scheduled to go to trial later this month.
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REVG | Hot Stocks16:17 EDT REV Group acquires Lance Camper, terms not disclosed - REV Group announced the acquisition of Lance Camper Manufacturing Corporation. This acquisition enables REV to meaningfully enter the rapidly growing over $10B towables segment of the RV market by adding Lance Campers' premium portfolio of truck campers, towable campers and toy haulers to REV's existing suite of motorized offerings. Lance Camper employs over 550 associates and generates approximately $100M in annual revenue. After the acquisition, Lance Camper will continue to be led by its innovative founders, Jack Cole and Jeff Souleles. The acquisition of Lance Camper was closed on January 12.
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LBCP | Hot Stocks16:03 EDT Liberty Bancorp agrees to acquire Lawson Financial Corp - Liberty Bancorp, the holding company for BankLiberty, and Dr. Stephen McCray, Chairman of Lawson Financial reported an agreement whereby Liberty Bancorp will purchase all the stock of Lawson Financial. As a result of this agreement Lawson Bank will be merged into BankLiberty. Lawson Bank is headquartered in Lawson, Missouri, with branches in Kansas City, Excelsior Springs, and Gladstone, Missouri. Lawson Bank had total assets of $125.5M as of September 30. "The decision to sell was not an easy one but I am pleased that our customers will continue to be served by a community bank that shares our passion for helping local households and businesses," said McCray.
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ONCE | Hot Stocks15:57 EDT Spark Therapeutics' Luxturna does not meet ICER cost-effectiveness standards - The Institute for Clinical and Economic Review, or ICER, released its revised evidence report assessing the comparative clinical effectiveness and value of Luxturna, Spark Therapeutics for treatment of vision loss associated with biallelic RPE65-mediated retinal disease. This evidence report will be the subject of an upcoming public meeting of the Midwest Comparative Effectiveness Public Advisory Council, or CEPAC, on January 25. The Midwest CEPAC is one of ICER's three independent evidence appraisal committees. Evidence on Luxturna provides high certainty of at least a small net health benefit for patients with biallelic RPE65-mediated retinal disease; however, significant uncertainty remains about the long-term effects and durability of the response to treatment. Assuming a 10-20 year benefit of treatment for 15-year-olds, the average age of patients in the clinical trials, economic analyses found that at the current price of $850,000, use of the treatment would exceed common cost-effectiveness thresholds.
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OSTK | Hot Stocks15:42 EDT Overstock says will fight 'brash attempt' by SD to 'evade constitution' - Overstock.com said that it recognizes the attention that South Dakota's sales tax case has generated, and looks forward to the opportunity to convince the Supreme Court to confirm its prior rulings protecting the free flow of interstate commerce from overreaching state tax laws. South Dakota's appeal to the U.S. Supreme Court seeks to reverse a lower court decision rejecting the state's effort to abrogate Quill Corp v. North Dakota. South Dakota's petition strives to permit the state to expand its tax authority beyond its borders and impose obligations on out-of-state sellers with no physical presence in the state. "We're confident that as the Supreme Court delves deeper into the issue, it will confirm that the doctrine stated in Quill Corp. v. North Dakota is clear and fair on this matter," said Jonathan Johnson, president of Overstock's subsidiary, Medici Ventures, Inc., and a member of Overstock's board of directors, "That said, unless Congress intercedes, under the U.S. Constitution any retailer without a physical presence in South Dakota cannot be required to collect and remit state sales tax." "States do not have power to conscript individuals or organizations that do not have a physical presence within their state to do the state's job of collecting sales tax," continued Johnson. "It's a straightforward notion. And, disregard for the precedent would have severe consequences for future businesses and individuals." "We will confidently stand shoulder to shoulder with our competitors to fight this brash attempt by the State of South Dakota to evade constitutional law," concluded Johnson.
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TEVA | Hot Stocks15:22 EDT Moody's downgrades senior unsecured ratings of Teva to Ba2 - Moody's Investors Service earlier today downgraded the senior unsecured ratings of Teva Pharmaceutical Industries and its subsidiaries to Ba2 from Baa3. Moody's also assigned a Ba2 Corporate Family Rating, Ba2-PD Probability of Default Rating, and SGL-3 Speculative Grade Liquidity Rating. The rating outlook is stable. "The downgrade of Teva's ratings to speculative grade reflects the challenge of managing its significant debt burden while facing a prolonged period of earnings erosion. While Teva's cost restructuring program will help to partially offset declines, execution risk is high. In addition, we believe earnings declines from Copaxone and its US generics business will be severe, and that meaningful deleveraging to under 4 times gross debt/EBITDA will take several years to achieve," said Morris Borenstein, Moody's Assistant Vice President.
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TNTR | Hot Stocks15:10 EDT Tintri near highs of day, up 14% to $6.71
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HHS | Hot Stocks14:51 EDT Harte-Hanks holder Fondren calls for talks on need for new chairman - Fondren a 5.6% activist stakeholder in Harte-Hanks said in a regulatory filing that it may have conversations with Harte-Hanks on governance in addition to continuing to engage withthe company management and board members. Fondren added, "These discussions may include but are not limited to the following: the immediate need for a new chairman with industry experience and a track record of value creation; the immediate need for a significant refreshing of the board specifically targeting overtenured board members; declassification ofHarte-Hanks' board; the ability of shareholders owning 10% or more of Harte-Hanks to call special meetings; and other matters that would involve Harte-Hanks conforming to best practices of corporate governance."
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LOW | Hot Stocks14:45 EDT Lowe's jumps 3.5% after report of activist investor building stake - Shares of Lowe's are up $3.34, or 3.5%, to $99.08 after Bloomberg reported that activist investor D.E. Shaw is building a stake in the home improvement retailer and plans to push a plan for changes.
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BABA | Hot Stocks14:32 EDT USTR puts Alibaba's Taobao on Notorious Markets List again - The U.S. Trade Representative has again placed Alibaba's Taobao on its Notorious Markets List, which highlights 25 online markets and 18 physical markets around the world that are reported to be engaging in and facilitating substantial copyright piracy and trademark counterfeiting. "A high volume of infringing products reportedly continue to be offered for sale and sold on Taobao.com and stakeholders continue to report challenges and burdens associated with IP enforcement on the platform," the U.S. Trade Representative said. "In particular, SMEs continue to have problems accessing and utilizing takedown procedures on Taobao.com." While the USTR acknowledged Alibaba's latest efforts to curtail the sale of infringing products on Taobao, it noted that "important unresolved concerns remain." Reference Link
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BDX | Hot Stocks14:20 EDT Becton Dickinson returned to rubber stopper it used previously in syringe - Becton-Dickinson informed FDA that it is no longer using the rubber stopper material associated with loss of drug potency in its general use syringes, and BD has instead returned to a rubber stopper it used previously in the syringes.
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EV | Hot Stocks14:05 EDT Eaton Vance reports AUM of $432.2B at December 31 - Eaton Vance reported consolidated assets under management, or AUM, of $432.2B on December 31, 2017. This compares to $422.3B on October 31, 2017, the close of the company's fourth fiscal quarter.
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AT | Hot Stocks13:56 EDT Atlantic Power responds to Mangrove, notes no ongoing talks with crypto miners - Atlantic Power released the following statement in response to news inquiries about an amended Schedule 13D filed earlier today by the company's largest shareholder, Mangrove Partners and certain affiliated entities: "On January 10, 2018, management of Atlantic Power had a conference call with Mangrove, at Mangrove's request. During the call, Mangrove recommended that the Company explore commercial opportunities for those power plants that are currently not operational, those that have Power Purchase Agreements scheduled to expire in the next few years, and those that may have excess power available for sale. The Company has had an active commercial effort with respect to these plants for some time, including pursuing potential alternative uses for existing sites and commercial arrangements with existing or new customers. The Company welcomed Mangrove's input and their interest in potential co-investment with the Company. During the call, Mangrove mentioned several types of businesses as potential areas of new customer demand. One area mentioned was cryptocurrency mining and related businesses. Although the Company may evaluate that sector, as it would other potential businesses, there are no ongoing discussions with cryptocurrency miners or related businesses or with Mangrove related to that sector. The Company would take a cautious view of counterparty credit risk for any such businesses."
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XNET | Hot Stocks13:44 EDT Xunlei plummets after China regulator advises on ICO risks - Xunlei (XNET) describes itself as a cloud-based acceleration technology company in China. In early October, the company announced their "Wanke coin mining" cryptocurrency project. More importantly, a company subsidiary, OneThing Technology, announced a new blockchain-based product, OneCoin, last year. Regulators quickly claimed that OneCoin constitutes a new version of banned Initial Coin Offering, or ICO, activities. Earlier Friday, members of China's National Internet Finance Association, NIFA, backed earlier statements that "ICO activities are suspected of involving illegal criminal activities including illegal fund-raising, illegal issuance of securities, and illegal sale of notes and bonds and that all institutions and individuals should immediately stop engaging in ICO activities." An ICO is defined by Investopedia as an unregulated means by which funds are raised for a new cryptocurrency venture. It is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin. NIFA added that the token Lianke ,formerly known as Wankebi issued by Xunlei, "has emerged as a potentially risky model" that needs to be monitored carefully. PRICE ACTION: Shares of Xunlei are down over 25% to $17.16 per share in afternoon trading.
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V | Hot Stocks13:27 EDT Visa makes signature optional for North America EMV merchants - In a post to the company's corporate blog, Dan Sanford, vice president, consumer products, Visa, announced that Visa is making the signature requirement optional for all EMV contact or contactless chip-enabled merchants in North America, beginning April 2018. "Our focus is on continually evolving the market towards dynamic authentication methods such as EMV chip, as well as investing in emerging capabilities that leverage advanced analytics and biometrics. We believe making the signature requirement optional for EMV chip-enabled merchants is the responsible next step to enhance security and convenience at the point of sale," Sanford stated in the post. Reference Link
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AFL | Hot Stocks13:21 EDT Aflac says workplace fraud allegations are 'false' - The company said, "Recent media stories regarding Aflac contain false allegations made by a very small group of independent contractors. Aflac intends to aggressively fight these allegations beginning with filing for their dismissal. The unfounded articles allege claims including insider trading, fraudulent sales and financial manipulation. The company has investigated these claims and found them to be without merit.Mr. Conroy and the individuals involved with these unfounded claims are not employees of Aflac and as such can be part-time and licensed to sell with other companies as well. Mr. Conroy has formerly served as an Aflac district sales coordinator and has realized financial benefits through his association with Aflac. It should also be noted that these allegations are coming from fewer than ten individuals among up to 70,000 independent contractors and brokers licensed to sell Aflac products. The insider trading, fraudulent sales and financial manipulation claims alleged by the individuals have been investigated by the company and an independent special committee of the company's board of directors."
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BHGE | Hot Stocks13:12 EDT Baker Hughes reports U.S. rig count up 15 to 939 rigs - Baker Hughes reports that the U.S. rig count is up15 rigs from last week to 939, with oil rigs up 10 to 752, gas rigs up 5 at 187, and miscellaneous rigs unchanged. TheU.S. Rig Count is up 280 rigs from last year's count of 659, with oil rigs up 230, gas rigs up 51, and miscellaneous rigs down 1 to 0. The U.S. Offshore Rig Count is up 2 rigs from last week to 19 and down 6 rigs year-over-year. The Canada Rig Count is up 102 rigs from last week to 276, with oil rigs up 87 to 185 and gas rigs up 15 to 91. The Canada Rig Count is down 39 rigs from last year's count of 315, with oil rigs up 15, gas rigs down 53, and miscellaneous rigs down 1 to 0.
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YELP | Hot Stocks13:05 EDT Yelp declines comment on activist speculation - A Yelp spokesperson told The Fly in an email that the company has "no comment" on the speculation that surfaced earlier today regarding the potential presence of an activist investor. Yelp shares are up 4%, or $1.60, to $45.60 following this morning's conjecture.
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SSNLF | Hot Stocks12:54 EDT Samsung begins production at home appliance facility in South Carolina - Samsung Electronics America announced the start of commercial production at its first U.S. based home appliance manufacturing facility in Newberry County, South Carolina. Only six months after taking possession of the plant, Samsung employees have begun manufacturing ship-ready washing machines, producing the products' washer cabinets, inner tubs and bases from blank steel. Hyun Suk Kim, President and Head of CE Division of Samsung Electronics visited the Newberry plant to celebrate the official launch of production, along with the CEO of Samsung Electronics North America, Tim Baxter, South Carolina Governor Henry McMaster, U.S. Senator Tim Scott, U.S. Representative Ralph Norman, and Ian Steff, Deputy Assistant Secretary of Manufacturing, U.S. Department of Commerce, and other state and local leaders.
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BITCOIN... | Hot Stocks12:49 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. S. KOREA LOOKS TO BAN BITCOIN TRADING: South Korea regulators are planning legislation that bans trading of cryptocurrencies, BBC reported Thursday, with several exchanges in the country raided this week on suspicion of tax evasion. South Korea's Justice Minister cites "great concerns" regarding virtual currencies. However, the country's presidential office said a ban has not yet been finalized and is one measure that is being considered. 2. CHINA SEEKS TO CLOSE BITCOIN MINING: Chinese authorities are ordering the closure of operations that produce, or "mine", cryptocurrencies and local regulatory officials across China are complying, the Wall Street Journal reported Wednesday. The order, which did not set a deadline, comes amid a broader clampdown on cryptocurrencies by China which has already resulted in the shuttering of digital currency exchanges. The country has accounted for roughly 80% of computer power linked to global bitcoin mining over the past 30 days. 3. BUFFETT "WILL NEVER" HOLD: On Wednesday, Berkshire Hathaway (BRK.A, BRK.B) Chairman and CEO Warren Buffett said his firm is not buying bitcoin, is not shorting bitcoin and "will never hold a position" in the cryptocurrency. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," he said, adding, "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth." 4. DIMON REGRETS 'FRAUD' CALL: JPMorgan (JPM) CEO Jamie Dimon said he regrets that he called bitcoin a fraud in September, CNBC reported Tuesday. "The blockchain is real," Dimon said. "You can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people. I'm not interested that much in the subject at all." 5. GUNDLACH SAYS HIGH IS IN: Billionaire investor Jeffrey Gundlach said on Wednesday he believes bitcoin has hit its high. "It's just a thing that is out there, unproven," he said, "I have a theory that bitcoin is very different than what people think... I do not own bitcoin. This type of investment is very, very different from my conservative DNA." 6. GAIN CAPITAL CONTINUES ROLLOUT: On Monday, GAIN Capital (GCAP) announced the launch of Bitcoin trading in Australia and Singapore on the company's City Index branded service, which is regulated by ASIC and MAS, respectively. GAIN plans to complete the global roll out of bitcoin trading in the coming months, launching in other markets in Asia and the United States. The company also plans to expand its cryptocurrency offering to include Ethereum and other digital currencies in early 2018. 7. RIPPLE: On Friday, MoneyGram (MGI) announced a partnership with Ripple to pilot XRP in their payment flows. As part of this agreement, both companies will also explore MoneyGram's integration into Ripple's ecosystem through xVia. XRP's transaction fees are fractions of a penny, compared to Bitcoin fees of about $30 per transaction, and the average transaction time for XRP is two to three seconds. Seagate Technology (STX) invested in both the 2015 $28M Series A and 2016 $55M Series B fundraising rounds conducted by Ripple Labs, developer of XRP, a Seeking Alpha contribitutor was credited with highlight on Monday. Based on some assumptions and data from tech sites, the Seeking Alpha report hypothesized that Seagate may own over 4% of Ripple, worth about $7.8B. 8. KODAKCOIN: On Tuesday, Kodak (KODK) and WENN Digital, in a licensing partnership, announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to "empower photographers and agencies to take greater control in image rights management." The initial coin offering will open on January 31, 2018. 9. BITCOIN STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock (OSTK), Digital Power (DPW), Long Blockchain (LBCC), Seven Stars Cloud Group (SSC), Riot Blockchain (RIOT), Longfin (LFIN), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin was down roughly 17% this week to $13,674 in U.S. dollars according to CoinDesk. Bitcoin Investment Trust dropped about 10% this week to $1,925. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.
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AZN MRK | Hot Stocks12:46 EDT AstraZeneca, Merck say FDA approves Lynparza - AstraZeneca (AZN) and Merck (MRK) announced that the US Food and Drug Administration has approved LYNPARZA, for use in patients with deleterious or suspected deleterious germline BRCA-mutated, human epidermal growth factor receptor 2-negative metastatic breast cancer who have been previously treated with chemotherapy in the neoadjuvant, adjuvant or metastatic setting. Patients with hormone receptor positive breast cancer should have been treated with a prior endocrine therapy or be considered inappropriate for endocrine therapy. Patients are selected for therapy based on an FDA-approved companion diagnostic from Myriad Genetics. Dave Fredrickson, Executive Vice President, Head of the Oncology Business Unit, AstraZeneca, said: "This new approval for LYNPARZA makes it the first and only PARP inhibitor approved in metastatic breast cancer, and the only PARP inhibitor approved beyond ovarian cancer. This is significant for breast cancer patients, as the identification of BRCA status, in addition to hormone receptor and HER2 status, becomes a potentially critical step in the management of their disease."
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VIA... | Hot Stocks12:27 EDT Box Office Battle: 'Jumanji' expected to hold off four new releases - This coming holiday weekend will see four new wide releases -- 21st Century Fox's (FOX, FOXA) "The Post," Time Warner's (TWX) Warner Bros. "Paddington 2," Sony's (SNE) Screen Gems "Proud Mary," and Lionsgate's (LGF.A, LGF.B) "The Commuter. However, none of them are expected to take the top spot from Sony's "Jumanji: Welcome to the Jungle," which is in its fourth weekend at theaters and has already domestically grossed over $250M. Action comedy "Jumanji," starring Dwayne Johnson, Jack Black and Kevin Hart, is expected to earn $33M-$34M over the four-day holiday weekend. Historical drama "The Post," directed by Steven Spielberg and starring Meryl Streep and Tom Hanks, is expected to open at about $24M at over 2,800 locations. Family adventure sequel "Paddington 2," starring Hugh Grant and Brendan Gleeson, is expected to earn $19M-$21M at 3,700 theaters. Action thriller "Proud Mary," starring Taraji P. Henson as a hit woman, is expected to earn around $19M at 2,200 theaters. Action film "The Commuter," starring Liam Neeson, is expected to open in the range of $12M-$15M over the holiday weekend. Also still in theaters is Disney's (DIS) "Star Wars: The Last Jedi," which is nearing $600M in domestic receipts, and is expected to add on another $16M-$17M this weekend. Other publicly traded companies in filmmaking include Comcast (CMCSA, CMCSK), Sony (SNE), and Viacom (VIA, VIAB).
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RVSB | Hot Stocks12:02 EDT Riverview Bancorp announces Sheaffer to retire as President and CEO - Riverview Bancorp announced that, effective April 2, 2018, Patrick Sheaffer will be retiring as President and CEO of the company and the Riverview Community Bank. Sheaffer will continue to serve as Chairman of the board of both the company and the bank. Kevin Lycklama, currently Executive VP and COO, will succeed him as President and CEO of the company and the bank. With the transition, Lycklama will join the board, the company added.
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ATVI... | Hot Stocks11:54 EDT Activision Blizzard rises following start of Overwatch League - Shares of Activision Blizzard (ATVI) were trading higher near midday, adding to yesterday's gains after the video game maker saw solid viewer turnout for the inaugural season of the Overwatch League, an esports league centered around Blizzard's popular multiplayer shooter "Overwatch." LEAGUE POSTS SOLID VIEWERSHIP: Overwatch League launched on Wednesday of this week, with 12 franchises representing cities across Asia, Europe, and North America competing in the first season. Activision Blizzard and Amazon's (AMZN) Twitch had already agreed to an exclusive streaming rights agreement for Overwatch League, a deal reportedly worth at least $90M over a two year period, according to Sports Business Daily. After the first night of competition between the Dallas Fuel and the Seoul Dynasty, Forbes reported that the Twitch broadcast drew somewhere between 270,000-300,000 viewers for most of the night. Twitch PR director Chase told Forbes that the first night of broadcasting was "most comparable" to the playoff rounds of more established esports games, including "League of Legends" or "Counter-Strike: Global Offensive." COMPANY SPONSORS: Several of the 12 Overwatch League franchises have either corporate owners or sponsors. The Philadelphia Fusion is owned by Comcast Spectacor (CMCSA), the San Francisco Shock is owned by NRG esports, and the Shanghai Dragons are owned by NetEase (NTES). Additionally, Netgear (NTGR) said earlier this week that it is sponsoring the Seoul Dynasty. STREET RESEARCH: Earlier this week, KeyBanc analyst Evan Wingren said he believes 2018 is a crucial year for esports, noting in particular that Activision Blizzard and rival Take-Two (TTWO) are best positioned to take share in the esports market as of now. Wingren said that the Overwatch League, as well as the League of Legends North American League Championship Series, will define the initial success or failure of esports despite the relatively young competitive environment within "Overwatch." In addition, Wedbush Securities analyst Michael Pachter noted that he expects demand for "Overwatch," which already had over 35M registered players as of November 2, to benefit from the Overwatch League. PRICE ACTION: In late morning trading, Activision Blizzard shares are up 0.9% to $69.85. OTHERS TO WATCH: Shares of rival Electronic Arts (EA) are up nearly 1% while Take-Two shares are up marginally near midday.
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GD | Hot Stocks11:38 EDT General Dynamics awarded $1B contract to deliver PIRANHA 5 vehicles to Romania - General Dynamics European Land Systems signed a contract to deliver up to 227 PIRANHA 5 wheeled armored vehicles in six different configurations to the Romanian Armed Forces. The contract has a total value exceeding $1B. It is part of the Romanian Army's plan to modernize its legacy wheeled armored vehicle fleet.
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MYGN | Hot Stocks11:22 EDT FDA okays Myriads' BRACAnalysis as companion diagnostics for Lynparz - Myriad Genetics announced that the U.S. Food and Drug Administration approved BRACAnalysis CDx for use as a companion diagnostic by healthcare professionals to identify patients with HER2-negative metastatic breast cancer who have a germline BRCA mutation and are candidates for treatment with the PARP inhibitor Lynparza, marketed by AstraZeneca and Merck, known as MSD outside of the U.S. and Canada. BRACAnalysis CDx is the first and only FDA-approved test for use in this indication."This important advance underscores the need for patients with HER2-negative metastatic breast cancer to know their BRCA status with an FDA approved test to help ensure that they will receive the best available therapy," said Johnathan Lancaster, M.D., Ph.D., chief medical officer of Myriad Genetics. "As shown in the OlympiAD study, Myriad's BRACAnalysis CDx test was proven to accurately identify those patients who had a germline BRCA mutation and may benefit from Lynparza."The approval also adds to the body of knowledge about the clinical use and value of companion diagnostics to enable personalized medicine for people with cancer.
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AZN... | Hot Stocks11:15 EDT AstraZeneca announces FDA approval of Lynparza for BRCA-mutated breast cancer - AstraZeneca (AZN) and Merck (MRK) announced that the U.S. Food and Drug Administration has approved Lynparza for use in patients with deleterious or suspected deleterious germline BRCA-mutated, human epidermal growth factor receptor 2-negative metastatic breast cancer who have been previously treated with chemotherapy in the neoadjuvant, adjuvant or metastatic setting. Patients with hormone receptor positive breast cancer should have been treated with a prior endocrine therapy or be considered inappropriate for endocrine therapy. Patients are selected for therapy based on an FDA-approved companion diagnostic from Myriad Genetics (MYGN), the companies noted. This is the third indication approved for Lynparza in the U.S.
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AFL | Hot Stocks10:54 EDT Aflac slides after The Intercept uncovers fraud allegations - Shares of Aflac are under pressure following an article published by The Intercept on Thursday, January 11, which outlined allegations made by nine former employees of the insurance company. WHAT'S NOTABLE: The former Aflac employees allege that there is fraud and abuse across almost every aspect of the company. The article that revealed the allegations also cited three lawsuits that were previously unreported, and indicated the company's management and board knew about the claims and did not disclose any information to shareholders beyond vague statements about lawsuits. The report added that Aflac spokesman Jon Sullivan response was that the company "will not comment on pending litigation." WHAT'S NEW: Bloomberg reported that during a phone call on January 12, Sullivan said, "These charges are baseless and we will be filing to have them dismissed." PRICE ACTION: Shares of Aflac are down 6.06% to $86.13 per share during late morning trading.
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X | Hot Stocks10:53 EDT U.S. Steel encourages Trump to take action after Commerce Dept. probe - U.S. Steel issued the following statement regarding the recent announcement by the Department of Commerce on the Section 232 investigation on the effect of steel imports on national security. The company's statement follows: "With the completion of the Department of Commerce's investigation, United States Steel Corporation encourages President Trump to take swift and decisive action. Our Nation cannot afford to allow the continued rise of foreign imports that undermine America's capacity to produce the steel necessary for our country's national and economic security."
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BSX | Hot Stocks10:41 EDT Boston Scientific reports 'positive' results from WHISPER study - Boston Scientific announced positive results from the WHISPER randomized controlled trial. The data, presented at the 2018 Annual Meeting of the North American Neuromodulation Society in Las Vegas, demonstrated that patients who are given the choice to use both sub-perception and paresthesia-based spinal cord stimulation therapy achieve superior outcomes in comparison to patients who have only one SCS therapeutic option. Based on data from cohorts of 70 and 55 subjects who chose sub-perception therapy for long-term follow-up, the WHISPER RCT demonstrated that: If patients are able to choose between the SCS therapy that provides the most effective pain relief, the number of subjects whose pain was effectively controlled by SCS increased by 62%; 57% of patients in a study cohort preferred having the option of both sub-perception and paresthesia-based therapy; Subjects whose pain was managed by paresthesia-based therapy during the randomized phase had an average reduction in baseline pain scores from 7.2 to 2.5, if they were able to choose between the SCS therapy that provided the most effective relief; and at 12 months, pain scores for subjects who preferred sub-perception therapy decreased on average from 7.1 to 3.8 and 89 percent rated their condition better or a great deal better; these subjects had an SCS implant for an average of five years.
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WFC | Hot Stocks10:27 EDT Wells Fargo expects FY18 total expenses $53.5B-$54.5B - Includes approximately $0.6B of typical operating losses, and excludes litigation and remediation accruals and penalties. Expects to close 250 branches in 2018, can see total branch network declining to 5,000 by 2020.
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WFC | Hot Stocks10:27 EDT Wells Fargo says 'on track' with $4B in expense reductions by end of 2019 - Says 2017 was a transformational year. Expects instance issuance of debit cards to customers' mobile wallets in 2018. Estimates that 70,000 team members will receive a pay increase due to tax reform, pay increases will be effective in March. Says returning capital to shareholders remains a top priority. Says to early to determine full impact of tax reform but expects it to be positive. Comments taken from Q4 earnings conference call.
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WFC | Hot Stocks10:15 EDT Wells Fargo expects FY18 effective tax rate to be approximately 19%
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WFC | Hot Stocks10:10 EDT Wells Fargo says 'on track' with $4B in expense reductions by 2019 - Says 2017 was a transformational year. Expects instance issuance of debit cards to customers' mobile wallets in 2018. Estimates that 70,000 team members will receive a pay increase due to tax reform, pay increases will be effective in March. Says returning capital to shareholders remains a top priority. Says to early to determine full impact of tax reform but expects it to be positive. Comments taken from Q4 earnings conference call.
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AFL | Hot Stocks09:53 EDT Aflac drops 4% after Intercept reports on fraud allegations by employees
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WATT | Hot Stocks09:29 EDT Energous drops 10% after share sale pact, comments on outlook
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WATT | Hot Stocks09:28 EDT Energous sees 'modest levels' of chip revenue through Q3 of 2018 - The company said in a regulatory filing, "Energous is currently making the transition from product development to commercial revenue generation from chip sales. During the fourth quarter of 2017, Energous began shipping chips through Dialog to customers, but in limited quantities that were not recognized as revenue. Energous expects to recognize modest levels of chip revenue in the first quarter of 2018. Growth in Energous's chip revenue depends on a variety of factors, including its success in securing design wins, and the success of its customers in commercializing their end-products and receiving regulatory approval to sell their end-products to consumers. Energous expects end-products incorporating its Near Field transmitter technology to be available to consumers in the first half of 2018, while end-products incorporating its Mid Field transmitter technology will be available to consumers in the second half of 2018. Energous anticipates that shipments of its customers' end-products will begin in modest volumes and will grow over time based on consumer demand. Shipments of silicon chips for revenue will follow the same curve as both the number of WattUp enabled products hit the market and consumer demand expands for the WattUp enable products in the market. Given these factors, Energous expects that its chip revenue will remain at modest levels through the third quarter of 2018, with opportunities for growth thereafter. Energous expects to continue generating engineering services revenue during 2018, although the timing and magnitude of this revenue is difficult to predict."
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TWTR... | Hot Stocks09:27 EDT On The Fly: Pre-market Movers - HIGHER: Twitter (TWTR), up almost 3% after Facebook (FB) CEO Mark Zuckerberg announced a change to Facebook that would significantly reduce public content from businesses, brands, and media... Pluristem Therapeutics (PSTI), up 7.9% after announcing that PLX cells "significantly inhibit" cancer cell growth in new published study. LOWER: Facebook is down 5.4% following Zuckerberg's announcement that the company will change the build to focus more on "meaningful social interactions" instead of relevant content... Snap (SNAP), down 2.8% after being downgraded to Underperform from Market Perform at Raymond James... GameStop (GME), down 7.1% after reporting holiday sales.
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BDX | Hot Stocks09:25 EDT Becton Dickinson says 'cooperating fully with FDA' - BD issued the following statement in response to receiving a warning letter from the U.S. FDA for its Preanalytical Systems business unit. Richard Byrd, worldwide president of BD Preanalytical Systems said: "Ensuring the safety and quality of our products is our top priority at BD, and we are dedicated to maintaining a robust quality system to fulfill this commitment. We take any potential issue with our products very seriously and are cooperating fully with FDA on this matter. After the FDA inspection in July, we took prompt action that we believed fully addressed the agency's inspectional observations. We are carefully reviewing the agency's feedback outlined in yesterday's letter with the highest sense of urgency, and we will provide a full response to FDA on or before their Feb. 1 deadline. We will continue to demonstrate our commitment to serving the public health as well as meeting FDA's expectations."
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JPM | Hot Stocks09:17 EDT JPMorgan CEO says 'some' of tax reform benefits will be 'competed away' - JPMorgan CEO Jamie Dimon said in the next few weeks that the bank will be announcing some "very thoughtful things" that the company is going to do that are right for the communities the bank serves, but may "bite into" the windfall the bank sees from tax reform. Dimon is making the comments on the bank's earnings call.
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CUDA AMZN | Hot Stocks09:04 EDT Barracuda NexGen Firewall achieves AWS Security Competency status - Barracuda Networks (CUDA) announced that the Barracuda NextGen Firewall has achieved Amazon Web Services (AMZN) Security Competency status. Barracuda NexGen Firewall joins the Barracuda Web Application Firewall, which achieved the same competency earlier in 2016. The new certification makes Barracuda one of the first Advanced Technology Partners in the AWS Partner Network to achieve two security competencies - continuing to add credibility to its recently announced Cloud Generation Firewall capabilities.
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ORCL | Hot Stocks09:02 EDT Samsonite Europe extends alliance and upgrades with Oracle Retail - Oracle announced that Samsonite Europe is extending their alliance with Oracle Retail to adopt the Order Broker Cloud Service to enable more consumer shopping journeys. Samsonite will also take advantage of the innovation in the latest release by upgrading Oracle Retail Xstore Point-of-Service and Oracle Retail Customer Engagement.
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SDT | Hot Stocks09:02 EDT Sandridge Mississippian Trust receives notice from NYSE on listing standards - SANDRIDGE MISSISSIPPIAN TRUST I announced that it has received a notice from the New York Stock Exchange that the Trust has fallen below the NYSE continued listing requirement that the average closing price of the Trust's units of beneficial interest be at least $1.00 per share, calculated over a period of 30 consecutive trading days. The Trust received the deficiency notice from the NYSE on January 8, 2018, and on January 12, 2018, the Trust acknowledged receipt of the notice. Under the NYSE standards, the Trust can avoid delisting if, during the six-month period following receipt of the NYSE notice, on the last trading-day of any calendar month, the Trust's common stock has a closing price per share and a 30 trading-day average closing share price of at least $1.00. The Trust has no control at all over the trading price of the units, and does not intend to attempt to cause a reverse split of the units or other action in an effort to affect the trading price of the units. During this period, the Trust's units will continue to be traded on the NYSE, subject to compliance with other continued listing requirements.
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AJG | Hot Stocks09:01 EDT Arthur J. Gallagher acquires AquaSurance, terms not disclosed - Arthur J. Gallagher & Co. announced the acquisition of AquaSurance in Houston, Texas. Terms of the transaction were not disclosed. Founded in 2002 by Harry Peyton and Marshall Schoth, AquaSurance is a property/casualty broker focused exclusively on serving Texas water utilities.
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AZRE | Hot Stocks08:47 EDT Azure Power announces commissioning of 100 MW NTPC solar project - Azure Power announced the commissioning of a 100-megawatt solar power plant in the state of Telangana. Spread across an area of approximately 500 acres, the project has been setup under the government's National Solar Mission Phase-II, Batch-II Tranche-I. The project was auctioned by NTPC, which has a AAA debt rating and is the Government of India's largest power utility. Azure Power will supply power to NTPC for the next 25 years at a tariff of INR 4.67 per kWh.
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EPD | Hot Stocks08:45 EDT Enterprise Products raises quarterly cash distribution to 42.5c - Enterprise Products Partners announced that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to limited partners to 42.5c per common unit, or $1.70 per unit on an annualized basis. The quarterly distribution will be paid on Wednesday, February 7, 2018, to unitholders of record as of the close of business on Wednesday, January 31, 2018. This distribution, which represents a 3.7% increase over the distribution declared with respect to the 4Q16, is the 54th consecutive quarterly increase and the 63rd overall distribution increase since Enterprise's initial public offering in 1998.
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JPM | Hot Stocks08:38 EDT JPMorgan CFO says no immediate changes of note on capital plan - JPMorgan CFO Marianne Lake said she expects some of the tax benefits seen by the banking industry will pass on to customers over time. Lake noted that she does not see the bank having a "BEAT" tax liability. She mentioned that there are "no immediate changes of note" to the bank's capital plan following the enactment of the TCJA. Lake is speaking on the company's earnings conference call.
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UQM | Hot Stocks08:33 EDT UQM Technologies receives follow-on order from DANNAR - UQM Technologies announced a follow-on order from Muncie, Indiana-based DD DANNAR. UQM will ship HD 950T electric propulsion systems from this order to DANNAR in early 2018. DANNAR has introduced its Mobile Power Station, a heavy-duty EV designed for infrastructure maintenance and disaster response, powered by UQM's heavy-duty e-drive system. Due to increased exposure from the DANNAR unveiling in 2017 and the key suppliers of UQM, Cummins and BMW, DANNAR is solidly positioned to meet its 2018 production demands.
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BERY | Hot Stocks08:31 EDT Berry Global announces retirement of executive chairman Jonathan Rich - Berry Global Group announced that Jonathan Rich will retire as executive chairman and a Board member, and that the Board has unanimously elected CEO Thomas Salmon to succeed Rich as Chairman of the Board, each effective February 1, 2018. Salmon has served as a Board member since his appointment as CEO one year ago.
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PNC | Hot Stocks08:17 EDT PNC Financial sees Q1 net interest income 'stable' vs. Q4 - Sees Q1 loan loss provision $100M-$150M. Sees Q1 fee income down low mid-single digits. Sees Q1 other noninterest income $250M-$300M. Sees Q1 noninterest expense down low-single digits. Sees Q1 loans up modestly.
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BGI | Hot Stocks08:14 EDT Birks Group reports 4% decline in holiday season sales - Birks Group announced a 4% decline in holiday season sales, for the period from November 3, 2017 through December 30, 2017, but when the results of two flagship stores currently undergoing major renovations are excluded, comparable store sales increased by 2%. The 2% growth in comparable store sales experienced across the remaining stores was primarily the result of the increased sales of Birks-branded products, execution of targeted marketing campaigns and growth in e-commerce sales. Jean-Christophe Bedos, president and CEO, commented: "While we continued to battle a soft retail environment in Canada, we managed to leverage our marketing campaigns, the performance of Birks-branded products and our ongoing dedication to enhancing customer experience. As we enter the final quarter of our fiscal year, we will maintain our focus on our short-term and long-term growth strategies, namely the renovation of our flagship stores, the global expansion of the Birks product brand and the development of our e-commerce and wholesale businesses; the execution of which will contribute to long-term sales and profitability growth. Furthermore, our financial position supports our investments in these growth strategies. Under all the circumstances, we are pleased with our achievements."
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FEYE | Hot Stocks08:13 EDT FireEye announces $20M acquisition of X15 Software - FireEye announced it acquired privately held X15 Software and its innovative next generation big data platform. The acquisition, which closed on January 11, 2018, will add significant data management capabilities and provide customers with an open platform for integrating machine-generated data that can easily incorporate new security technologies and big data sources to adapt to the evolving threat environment. X15 Software was founded in 2013 and currently employs approximately 20 employees. The X15 teams are located in California and India and will bring their big data management experience to the FireEye engineering teams in their respective locations. Under the terms of the acquisition agreement, FireEye will pay approximately $15M in equity and $5M in cash.
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WFC | Hot Stocks08:12 EDT Wells Fargo remains committed to target of $2B in expense reductions - CFO John Shrewsberry said, "Wells Fargo reported $6.2B of net income in the fourth quarter, which included a net benefit from the Tax Cuts & Jobs Act and a gain on the sale of Wells Fargo Insurance Services, partially offset by litigation accruals. Compared with the third quarter we grew both loans and deposits, and our credit performance, liquidity and capital remained exceptionally strong. We returned a record $14.5B to shareholders through common stock dividends and net share repurchases in 2017, up 16%, and returning more capital to shareholders remains a priority. We've made progress on our efficiency initiatives and remain committed to our target of $2B of expense reductions by the end of 2018, which are being used to support our investments in the business, and an additional $2B by the end of 2019. In addition, by the beginning of 2019 we expect the amortization of core deposit intangible expense and the FDIC special assessment to be complete."
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WFC | Hot Stocks08:09 EDT Wells Fargo reports Q4 ROA 1.26%, ROE 12.47% - Net charge-offs were 0.31% of average loans annualized. Reports Common Equity Tier 1 ratio of 11.9%, compared with 11.8% in the prior quarter.
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GME | Hot Stocks08:08 EDT GameStop reports holiday SSS up 11.8% - GameStop reported sales results for the nine-week holiday period ended December 30, 2017. Total global sales for the holiday period were $2.77B, a 10.6% increase compared to the 2016 holiday period. Total comparable store sales increased 11.8%, growing 13.7% in the U.S. and 7.9% internationally. Worldwide omnichannel sales increased 21.5%.
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MTN | Hot Stocks08:06 EDT Vail Resorts sees FY resort reported EBITDA 'modestly below' prior guidance - Commenting on the ski season to date, Rob Katz, CEO said, "Given the truly historic low snowfall across our western U.S. resorts, we are pleased with our results to date, which reflect the stability provided by our season pass program and the investments we have made in our resorts. The 2017/2018 ski season had a very challenging start across our western U.S. resorts due to poor conditions in the early season that continued through the holiday period, reducing both local and destination visitation and spending. In November and December, snowfall season to date in Vail, Beaver Creek and Park City was the lowest level recorded in over 30 years and in Vail and Beaver Creek snowfall is over 50% lower than the next lowest season, and Tahoe's snowfall was 69% below the 20-year average. Fortunately, conditions have improved at our western U.S. resorts in the last week with expanded open terrain due to recent storms, and we expect a portion of the Back Bowls at Vail Mountain and Peak 6 at Breckenridge to open this weekend. However, we still remain behind typical conditions for this time of year in terms of open terrain and base depth. Conditions and financial results at Whistler Blackcomb have been strong and are consistent with last year's record performance, and Stowe is off to a strong start in our first year of operating the resort." Katz continued, "As a result of the challenging conditions at our western U.S. resorts, we now expect full year Resort Reported EBITDA to be modestly below the low end of the guidance range we issued on December 7, 2017, assuming a continuation of the improvement in conditions that we are currently seeing, such that our western U.S. resorts reach a normal terrain package within the next few weeks. To the extent that conditions improve more slowly, there could be further downside below our guidance range. However, we are encouraged by the experiences we deliver for our guests and how we have performed financially in previous challenging seasons, such as in 2011/2012, given our constant reinvestment in the comprehensive guest experience across our resorts and the strength of our season pass program."
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MTN | Hot Stocks08:05 EDT Vail Resorts reports certain ski season metrics - Vail Resorts reported certain ski season metrics for the comparative periods from the beginning of the ski season through January 7, 2018, and for the prior year period through January 8, 2017. The reported ski season metrics are for our North American mountain resorts, adjusted as if Stowe was owned in both periods and also adjusted to eliminate the impact of foreign currency by applying current period exchange rates to the prior period for Whistler Blackcomb's results. The metrics exclude results from Perisher and our urban ski areas in both periods. The data mentioned in this release is interim period data and is subject to fiscal quarter end review and adjustments. Season-to-date total lift ticket revenue at the Company's North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 1.6% compared to the prior year season-to-date period. Season-to-date ski school revenue was down 4.5% and dining revenue was down 8.7% compared to the prior year season-to-date period. Retail/rental revenue for North American resort store locations was down 11.5% compared to the prior year season-to-date period. Season-to-date total skier visits for the Company's North American mountain resorts were down 10.8% compared to the prior year season-to-date period. CEO Katz said, "As a result of the challenging conditions at our western U.S. resorts, we now expect full year Resort Reported EBITDA to be modestly below the low end of the guidance range we issued on December 7, 2017, assuming a continuation of the improvement in conditions that we are currently seeing, such that our western U.S. resorts reach a normal terrain package within the next few weeks. To the extent that conditions improve more slowly, there could be further downside below our guidance range. However, we are encouraged by the experiences we deliver for our guests and how we have performed financially in previous challenging seasons, such as in 2011/2012, given our constant reinvestment in the comprehensive guest experience across our resorts and the strength of our season pass program."
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WFC | Hot Stocks08:04 EDT Wells Fargo reports Q4 efficiency ratio 76.2%
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JPM | Hot Stocks08:04 EDT JPMorgan sees FY18 effective tax rate about 19% - In slides for its Q4 earnings conference call, JPMorgan stated: "As a result of the change in tax rate due to TCJA, expect a reduction in tax-equivalent adjustments, decreasing both managed revenue and managed tax expense by about $1.2B on an annual run-rate basis. New revenue recognition accounting rule expected to increase both FY2018 revenue and expense by about $1.2B, with the vast majority of the impact in AWM. Expect FY2018 effective tax rate to be about 19%. Expect 1Q18 net interest income to be modestly lower QoQ due to the impact of TCJA and day count."
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GSK | Hot Stocks08:03 EDT GlaxoSmithKline: FDA approves expanded indication for FLUARIX QUADRIVALENT - GSK announced it has received approval from the U.S. FDA's Center for Biologics Evaluation and Research expanding the indication for FLUARIX QUADRIVALENT (Influenza Vaccine) to include use in persons 6 months and older. Prior to this, the vaccine was only approved for active immunization against influenza A subtype viruses and type B viruses, in persons 3 years of age and older.
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ALK | Hot Stocks08:01 EDT Alaska Air reports December traffic up 9.2% - On a combined basis for all operations, Air Group reported a 9.2% increase in traffic on a 10.3% increase in capacity compared to December 2016. Load factor decreased 0.8 points to 82.3%.
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CSIQ | Hot Stocks07:36 EDT Canadian Solar trading resumes
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PSTI | Hot Stocks07:35 EDT Pluristem PLX cells 'significantly inhibit' cancer cell growth in new study - Pluristem Therapeutics announced the publication of a peer-reviewed article in the journal Scientific Reports, from the publisher of Nature, titled, "Human Placental-Derived Adherent Stromal Cells Co-Induced with TNF-alpha and IFN-gamma Inhibit Triple-Negative Breast Cancer in Nude Mouse Xenograft Models." The article is based on studies which examined the effect of PLX cells that had been induced with tumor necrosis factor alpha and interferon-gamma, on the proliferation of over 50 lines of human cancerous cells. The induction of the cells was carried out by adjusting their manufacturing process in order to transiently alter their secretion profile. Data from the first study showed that the modified PLX cells exhibited an anti-proliferative effect on 45% of the tested cancer cell lines, with a strong inhibitory effect on various lines of breast, colorectal, kidney, liver, lung, muscle and skin cancers. Comprehensive bioinformatics analysis identified common characteristics of the cancer cell lines inhibited by PLX cells. This knowledge could potentially be used in the future for screening patients' tumors to identify those patients most likely to show a positive response to treatment with PLX cells. Based on these promising results, Pluristem conducted a pre-clinical study of female mice harboring human triple negative breast cancer, or TNBC. TNBC is an aggressive form of breast cancer that does not respond to standard hormonal therapy due to a lack of estrogen and progesterone receptors. Current treatment for TNBC consists of a combination of surgery, radiation therapy, and chemotherapy, and yet the prognosis remains poor for patients with this type of breast cancer. In this study, weekly intramuscular (IM) injections of the induced PLX cells produced a statistically significant reduction in mean tumor size in the treated group compared with the untreated group, with 30% of the treated mice exhibiting complete tumor remission. In addition, a statistically significant reduction was seen in the percentage of proliferating tumor cells as well as in the level of blood vessels within the tumors. Pluristem has filed patent applications relating to the technology for the induction of PLX cells and the use of these cells for the treatment of cancer.
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KRG | Hot Stocks07:33 EDT Kite Realty Group announces strategic joint venture at Eddy Street Commons - Kite Realty Group announced today that it has entered into a joint venture to build and operate a full-service Embassy Suites hotel at its Eddy Street Commons property at the University of Notre Dame, which will be located across the street from Notre Dame Stadium. The Company will own a 35% non-controlling interest in this $46 million-dollar project that was partially funded with $6.0 million in tax increment financing proceeds. In connection with this project, the joint venture entered into a 7-year loan with a floating rate at LIBOR +250bps for 24 months of construction and fixed at 5.02% for the balance of the term.
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QCOM NXPI | Hot Stocks07:31 EDT Qualcomm extends cash offer for NXP Semiconductors to February 9 - Qualcomm (QCOM) announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.
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MARA BITCOIN | Hot Stocks07:20 EDT Marathon Patent Group: Global Bit Ventures purchase of 1,300 Bitmain Antminers - Marathon Patent Group announced that Global Bit Ventures Inc., or GBV, a digital asset technology company that mines cryptocurrencies has purchased 1,300 of Bitmain's Antminer S9 miners. Marathon and GBV have entered into a definitive purchase agreement whereby Marathon is acquiring 100% ownership of GBV. The Antminer S9s are manufactured by Bitmain, one of the world's most recognized Application Specific Integrated Circuit server manufacturers. The 1,300 Antminer S9s are expected to utilize an estimated 1.8 MW of power once fully deployed and add 14 Ph/s of ASIC mining capacity. GBV currently owns 1,000 GPU mining servers capable of 250 GH/s. The Antminer S9s are able to mine any cryptocurrency using the SHA256 algorithm, including Bitcoin and Bitcoin Cash.
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WG | Hot Stocks07:18 EDT Willbros Group reaches agreement on sale of U.S. pipeline assets - Willbros Group announced that it has signed a definitive agreement to sell certain U.S. mainline pipeline assets to WB Pipeline, LLC, an affiliate of Meridien Energy, LLC. Willbros continues to serve the U.S. oil & gas industry through its Facilities, Pipeline Integrity and Lineal businesses. Assets included in the sale consist primarily of cross-country pipeline construction equipment. Valuation is based upon independent third party appraisals and funding will occur in stages throughout the first quarter of 2018 as Willbros completes existing pipeline projects. Some senior management, including the Oil & Gas segment President Harry New, are joining WB Pipeline, LLC immediately; while others may join WB Pipeline, LLC once existing pipeline projects have been completed. WB Pipeline, LLC is to operate under the name Willbros Pipeline, an affiliate of Meridien Energy, LLC.
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PFMT | Hot Stocks07:10 EDT Performant awarded student loan recovery contract from Department of Education - Performant Financial announced that Performant has been awarded a new contract by the U. S. Department of Education to provide debt collection services on defaulted federal student loans. According to the Department of Education, the total contract award amount for the base period and option period is not to exceed $400M. The base period of performance for this contract is January 11, 2018 through January 10, 2023. The contract also includes a single, three year Optional Ordering Period which is January 11, 2023 through January 10, 2026; a one year Optional In-payment Retention Period, which is January 11, 2026 through January 10, 2027; and two 6 month Optional In-payment Retention Periods, which is January 11, 2027 through July 10, 2027 and July 11, 2027 through January 10, 2028.
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CNCE | Hot Stocks07:07 EDT FDA grants Fast Track Designation to Concert Pharmaceuticals' CTP-543 - Concert Pharmaceuticals announced that the U.S. Food and Drug Administration has granted Fast Track designation for CTP-543, a novel, oral Janus kinase inhibitor for the treatment of moderate-to-severe alopecia areata, an autoimmune disorder in which the immune system attacks hair follicles, resulting in patchy or complete hair loss. Concert is conducting a multi-center, double-blind, randomized, placebo-controlled Phase 2a trial to evaluate the safety and efficacy of CTP-543 in adults with moderate-to-severe alopecia areata.
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VRX | Hot Stocks07:04 EDT Ortho Dermatologics: FDA accepts NDA for IDP-121 - Ortho Dermatologics, a division of Valeant Pharmaceuticals, announced that the U.S. FDA has accepted the New Drug Application for IDP-121 (tretinoin 0.05%) lotion with a PDUFA action date of Aug. 27, 2018. If approved, ALTRENO will be the first tretinoin product in lotion form rather than a gel or cream.
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CNCE INCY | Hot Stocks07:03 EDT Concert Pharmaceuticals says PTAB did not grant PGR petition - Concert Pharmaceuticals (CNCE) announced that the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office has decided not to grant the company's Post Grant Review petition challenging the validity of U.S. Patent No. 9,662,335 assigned to Incyte Pharmaceuticals (INCY). "We are disappointed that the PTAB has denied our petition on the '335 patent. This decision does not prohibit us from challenging the validity of the patent at a later time in federal court, and we will continue with our plans to develop CTP-543 for alopecia areata. We don't expect any disruption to our clinical timelines," said Roger Tung, president and CEO. "We remain committed to developing the first FDA-approved treatment for alopecia areata; however, we are reassessing whether to expand CTP-543 into additional indications." In July 2017, Concert filed a PGR petition challenging the validity of Incyte's '335 patent covering deuterated ruxolitinib analogs.
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WYY | Hot Stocks06:57 EDT WidePoint awarded task order by DHS component - WidePoint announced a task order option year award from a U.S. Department of Homeland Security, or DHS, component for more than $111K. WidePoint will deliver cellular wireless managed services to this DHS component through the DHS Cellular Wireless Management Services Blanket Purchase Agreement.
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JPM | Hot Stocks06:56 EDT JPMorgan reports Basel III common equity Tier 1 capital of $184B, ratio of 12.1% - Firm SLR of 6.5%.
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CSIQ | Hot Stocks06:55 EDT Canadian Solar trading halted, news pending
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JPM | Hot Stocks06:54 EDT JPMorgan reports book value per share of $67.04, up 5% - Reports tangible book value per share of $53.56, up 4%.
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JPM | Hot Stocks06:53 EDT JPMorgan CEO: 2017 was a record year on many measures - Jamie Dimon, Chairman and CEO, commented on the financial results: "2017 was a record year on many measures for JPMorgan Chase as we added clients and customers and delivered record EPS. We had healthy growth in Treasury Services, Securities Services and Investment Banking - we were #1 in IB fees globally, a record for the firm. Commercial Banking and Asset & Wealth Management generated record revenue and net income. The Commercial Bank earned a record $2.3 billion of IB revenue and continued to add bankers and offices and now has offices in each of the top 50 MSAs. In Asset & Wealth Management, loans and AUM were up, 9% and 15%, to record levels, and we brought in $68 billion of long-term net flows. Consumer & Community Banking - which now reaches 61 million households - grew core loans and deposits 9% each, and had record merchant processing volume of $1.2 trillion." Dimon added: "The company maintained its fortress balance sheet, discipline and client focus. Operating from this position of strength allowed us to extend credit and raise capital of $2.3 trillion for U.S. consumers, businesses and institutional clients, while returning $22 billion to shareholders." Dimon concluded: "The enactment of tax reform in the fourth quarter is a significant positive outcome for the country. U.S. companies will be more competitive globally, which will ultimately benefit all Americans. The cumulative effect of retained and reinvested capital in the U.S. will help grow the economy, ultimately growing jobs and wages. We have always invested, even in difficult times, in our employees, customers and communities, and as a result of the tax plan we will be increasing and accelerating some of these investments."
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JPM | Hot Stocks06:51 EDT JPMorgan reports record AUM of $2T, up 15%
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JPM | Hot Stocks06:51 EDT JPMorgan reports Q4 average core loans up 6% y/y, up 2% sequentially
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FB... | Hot Stocks06:49 EDT Facebook shares dip following Zuckerberg post about seeing less public content - Facebook CEO Mark Zuckerberg posted an announcement to his Facebook profile which explained that he is directing his product teams to change the way that they build Facebook to focus more on "meaningful social interactions" rather than relevant content. WHAT THIS MEANS: Zuckerberg explained that Facebook users will see less public content from businesses, brands, and media. The changes will take months to implement and the first changes will be in the Facebook News Feed, where you can expect to see more from your friends, family and groups. EXPERT OPINION: Social Media Examiner's CEO Michael Stelzner held a Facebook Live broadcast breaking down the announcement and said this is "the end of organic reach" and will affect marketers and business page owners who either post too much or have little-to-no engagements and interactions on their posts. PRICE ACTION: Shares of Facebook are down 4% to $180.21 per share in pre-market trading. OTHERS TO WATCH: Twitter (TWTR) is up 1.4% to $24.70 and Snap (SNAP) is down 2.5% after being downgraded to Underperform from Market Perform at Raymond James.
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BLK | Hot Stocks06:46 EDT BlackRock CEO: Stocks will be boosted by global growth - Says Congress should have eliminated carried interest loophole. Says tax cut will do wonderful things for small businesses. Says tax cut will encourage companies to come back to U.S. Says would like to see stock market grow 10%-12% this year. Says expects accelerated growth in next 12-18 months. Larry Fink is speaking on CNBC.
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BLK | Hot Stocks06:27 EDT BlackRock CEO: Tax bill will add 1% to economic growth - Says most investors still underinvested. Says still plenty of purchasing power to keep market stable. Says still bullish on equities even at current levels. Says increased interest rates not necessarily bad. Larry Fink is speaking on CNBC.
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BLK | Hot Stocks06:22 EDT BlackRock CEO: Saw notable inflow in fixed income - Says seeing more utilization of Alladdin system. Says focusing on "outcome" investing. Says winning more of the customer wallet. Says ETF growth is rapid. Larry Fink is speaking on CNBC.
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BLK | Hot Stocks06:13 EDT BlackRock: Long-term net inflows positive across all major regions - Long-term net inflows were positive across all major regions, with net inflows of $55.3B, $17.9B and $7.4B from clients in the Americas, EMEA and Asia-Pacific, respectively. At December 31, 2017, BlackRock managed 63% of its long-term AUM for clients in the Americas, 29% for clients in EMEA and 8% for clients in Asia-Pacific.
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ZAIS | Hot Stocks06:09 EDT ZAIS Group Holdings enters into going private transaction - ZAIS Group Holdings announced that it has signed a definitive merger agreement with Z Acquisition LLC, a Delaware limited liability company, and ZGH Merger Sub, Inc., a wholly-owned subsidiary of ZAIS. Christian Zugel, the founder of ZAIS Group, LLC, the Company's operating subsidiary, and the Company's Chairman and Chief Investment Officer, is the sole managing member of Z Acquisition. Pursuant to the merger agreement, all of the outstanding common stock of ZAIS that is not beneficially owned by Z Acquisition, the members of Z Acquisition, certain trusts for members of Zugel's family, and Mr. Zugel's current spouse, or any person who, after the date hereof, acquires common stock of ZAIS through certain issuances pursuant to an exercise of exchange rights, or owned by certain stockholders who agree with Z Acquisition to retain certain of their common stock in connection with the merger, will be converted into the right to receive $4.10 per share in cash, less any required withholding taxes. The $4.10 per share price represents a premium of more than 138% to the closing price of the Company's shares of Class A common stock on September 5, 2017, the last trading day before the initial proposal from Mr. Zugel and Z Acquisition was publicly disclosed. The majority of the funding for payments required to be made to stockholders of the Company in the Merger will be provided by existing cash of the Company, but a portion of the funding for such payments will be provided by Z Acquisition by means of an acquisition of Class A Units of the Company's majority-owned subsidiary, ZAIS Group Parent, LLC. The Company's Board of Directors, acting on the unanimous recommendation of the special committee formed by the Board of Directors, approved the merger agreement and the transactions contemplated by the merger agreement and resolved to recommend that the Company's stockholders adopt the merger agreement and the transactions contemplated by the merger agreement. The Special Committee, which is comprised solely of independent and disinterested directors of the Company who are unaffiliated with Purchaser Group and management of the Company, negotiated the terms of the merger agreement with Purchaser Group, with the assistance of its legal and financial advisors. Immediately after the closing of the Merger, ZAIS will become a subsidiary of Z Acquisition. ZAIS is expected to continue its operations and remain headquartered in New Jersey. ZAIS's executive management team generally is expected to remain in place.
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BLK | Hot Stocks06:09 EDT BlackRock: Cash management AUM increased 6% from the prior quarter to $449.9B
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BLK | Hot Stocks06:08 EDT BlackRock CEO: FY17 total net inflows strongest in company history - "BlackRock's record 2017 results reflect the long-term investments we've consistently made in our business to better serve clients," commented Laurence D. Fink, Chairman and CEO of BlackRock. "$367 billion of total net inflows for the year were the strongest flows in BlackRock's history, and included $103 billion in the fourth quarter. Full year net inflows represented 7% organic asset growth and were positive across client types, asset classes, major regions and investment styles. Investors are increasingly seeking comprehensive solutions, and BlackRock's differentiated ability to offer scaled investment strategies, industry leading risk management and portfolio construction technology and thought leadership is driving deeper client partnerships than ever before. And we continue to expand the global reach of our integrated platform to investors in high growth geographies like China, where earlier this month we obtained our private fund management registration to manufacture and distribute onshore investment products. iShares ETFs generated $245 billion of full year net inflows, as an increasingly diverse set of institutional and retail clients are using ETFs for asset allocation and alpha generation. Investors are using both equity and fixed income ETFs in their portfolios for Core and precision exposures and as financial instruments. Investments made in iShares ETFs drove expanded market share in 2017 and enabled us to once again capture the #1 share of industry ETF flows globally, in the United States and Europe, and in both equity and fixed income products. In alpha-seeking strategies, we are leveraging the powerful combination of human investment expertise and sophisticated data analytics. Performance across our alpha-seeking strategies remains strong and drove $24 billion of net inflows in 2017."
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BLK | Hot Stocks06:06 EDT BlackRock raises quarterly dividend 15% to $2.88 per share - Payable March 22 to shareholders of record at the close of business on March 7.
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AG | Hot Stocks06:05 EDT First Majestic announces acquisition of Primero Mining - First Majestic Silver and Primero Mining are pleased to announce that they have entered into a definitive arrangement agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Primero. Under the terms of the Arrangement Agreement, all of Primero's issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common shareConcurrent with execution of the Arrangement Agreement, First Majestic has entered into agreements with Wheaton Precious Metals International Ltd., a wholly-owned subsidiary of Wheaton Precious Metals Corp. whereby, following closing of the Arrangement, the current silver streaming interest at Primero's San Dimas silver-gold mine held by WPM will be terminated and First Majestic and WPM will enter into a new stream arrangement based on 25% of the gold equivalent production at San Dimas with ongoing payments of $600 per gold equivalent ounce delivered under the agreement. As part of the transaction, WPM will receive 20,914,590 common shares of First Majestic having an aggregate value of $151 million. The Exchange Ratio implies consideration of C$0.30 per Primero common share, based on the 20day volume weighted average price of the First Majestic common shares on the Toronto Stock Exchange for the period ending January 10, 2018, representing a 200% premium to the weighted average price of Primero common shares on the TSX over the same period. The total transaction value is estimated at approximately $320 million, consisting of First Majestic equity to be issued to Primero shareholders and WPM described above and certain additional amounts payable in connection with the Arrangement, including repayment of all amounts owing under Primero's existing revolving credit facility, net of Primero cash on hand and the expected repayment of Primero's $75 million of outstanding convertible debentures and various transaction expenses. Full details of the proposed transaction will be included in Primero's proxy statement and information circular, which is expected to be mailed to shareholders in mid to late February 2018. It is anticipated that the Primero shareholder and debentureholder meetings and closing of the proposed transactions will take place in mid to late March 2018. In order to facilitate the closing of the Arrangement, WPM has agreed to extend the guarantee previously provided by WPM and certain of its subsidiaries under Primero's existing revolving credit facility to April 30, 2018. .
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BLK | Hot Stocks06:03 EDT BlackRock reports Q4 iShares net inflows $54.8B vs. $52.3B last quarter - iShares ETFs long-term net inflows of $54.8 billion reflected strength in iShares Core, precision exposure and financial instrument ETFs. Equity net inflows of $44.9 billion were driven by both U.S. and international equity market exposures. Fixed income net inflows of $8.7 billion reflected inflows into broad fixed income and investment grade corporate funds. Commodities iShares generated $1.0 billion of net inflows.
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BLK | Hot Stocks06:01 EDT BlackRock raises quarterly dividend 15% to $2.88 per share
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BLK | Hot Stocks06:00 EDT BlackRock reports Q4 AUM $6.29T, up 22% y/y, up 5% sequentially
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BITA | Hot Stocks05:31 EDT Bitauto appoints Andy Zhang as CEO - Bitauto Holdings announced the appointment of Bitauto's President Andy Zhang to the position of CEO, effective immediately. Zhang will remain in his current roles as chairman of the board and CEO of Bitauto's controlled subsidiary Yixin Group Limited, an online automobile retail transaction platform in China. William Li will continue to serve as chairman of Bitauto's board.
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TOUR | Hot Stocks05:30 EDT Tuniu promotes Shihong Chen to Chief Technology Officer - Tuniu announced the promotion of Shihong Chen from Vice President to Chief Technology Officer, effective immediately. Chen is currently in charge of the company's research and development, website and mobile, and accommodation reservation. Chen joined Tuniu in 2011 and was previously the head of the transportation business unit.
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TOUR | Hot Stocks05:29 EDT Tuniu announces $100M share repurchase program - Tuniu announced that its board has authorized a share repurchase program under which the company may repurchase up to $100M worth of its ordinary shares or American depositary shares representing ordinary shares over the next 12 months.
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ALGT | Hot Stocks05:26 EDT Allegiant Travel reports Q4 passenger traffic up 12.9% - Reports Q4 RPM up 12.9%, ASM up 12.5% and Load Factor of 82.7%, an increase of 0.9 percentage points against the prior year.
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ALGT | Hot Stocks05:25 EDT Allegiant Travel reports December traffic up 10.1% - Reports December RPM up 10.7%, ASM up 8.7% and Load Factor of 82%, an increase of 1.4 percentage points against the prior year.
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ALGT | Hot Stocks05:24 EDT Allegiant Travel reports December traffic up 10.1% - Reports December RMS up 10.7%, ASM up 8.7% and Load Factor of 82%, an increase of 1.4 percentage points against the prior year.
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FB | Hot Stocks05:19 EDT Facebook shifts build focus from showing relevant content to social interactions - Facebook CEO Mark Zuckerberg announced on his Facebook page that he is directing his product teams to shift the way they build Facebook from delivering relevant content to delivering "meaningful social interactions." Zuckerberg wrote, "We built Facebook to help people stay connected and bring us closer together with the people that matter to us. That's why we've always put friends and family at the core of the experience. Research shows that strengthening our relationships improves our well-being and happiness. But recently we've gotten feedback from our community that public content -- posts from businesses, brands and media -- is crowding out the personal moments that lead us to connect more with each other. t's easy to understand how we got here. Video and other public content have exploded on Facebook in the past couple of years. Since there's more public content than posts from your friends and family, the balance of what's in News Feed has shifted away from the most important thing Facebook can do -- help us connect with each other." Zuckerberg continues, "We're making a major change to how we build Facebook. I'm changing the goal I give our product teams from focusing on helping you find relevant content to helping you have more meaningful social interactions. We started making changes in this direction last year, but it will take months for this new focus to make its way through all our products. The first changes you'll see will be in News Feed, where you can expect to see more from your friends, family and groups. As we roll this out, you'll see less public content like posts from businesses, brands, and media. And the public content you see more will be held to the same standard -- it should encourage meaningful interactions between people." Reference Link
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PBYI | Hot Stocks04:55 EDT Puma Biotechnology says CHMP to discuss neratinib on January 23 - Puma Biotechnology announced last night that it met with Europe's Committee for Medicinal Products for Human Use Scientific Advisory Group on Oncology. SAG was asked to provide an opinion on the clinical relevance of the five-year absolute treatment difference in invasive disease free survival seen in the Phase III ExteNET trial and on the risk of gastrointestinal toxicity with neratinib and its acceptability in the proposed patient population in the company's Marketing Authorization Application for neratinib, Puma said. Based on the feedback from SAG and the rapporteurs, the company intends to modify the summary of product characteristics, sometimes referred to as the European product label, in its MAA for neratinib to further refine the intended population to patients at a high risk of disease recurrence. Puma noted that CHMP will be conducting an oral hearing to discuss the MAA for neratinib on January 23, and that it has been invited to present the risk benefit profile of neratinib in the identified population at this meeting.
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