Stockwinners Market Radar for March 01, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
NSANY | Hot Stocks18:52 EDT Renault-Nissan-Mitsubishi launch multiple project to accelerate convergence - Renault-Nissan-Mitsubishi announced the launch of multiple projects to accelerate convergence in key operational areas including Engineering, Manufacturing, Purchasing, Quality & Total Customer Satisfaction, Aftersales and Business Development at the world's largest automotive alliance. The initiative comes four years after Renault and Nissan - the founding members of the Alliance - converged their activities in areas such as Engineering, Manufacturing & Supply Chain Management. It follows the announcement, in September 2017, of the Alliance 2022 mid-term plan targeting increased annual synergies of more than EUR10B by the end of the plan, up from EUR5B in 2016. Additionally, the Alliance member companies are forecasting sales of 14M units by the end of the plan, compared to 10.6M units in 2017. The projects are expected to lead to a new organizational structure to be reviewed and finalized following consultations with the appropriate employee representatives. Detailed project recommendations will then be submitted to the corporate decision-making bodies of Renault, Nissan and Mitsubishi Motors. This process is expected to lead to the implementation of the convergence plan beginning April 1st, 2018. Upon conclusion of the projects, it is expected that Mitsubishi Motors will join the Alliance Purchasing, Business Development, Quality & TCS organizations in April 2018. Mitsubishi will then gradually move towards full participation in Engineering, Manufacturing & SCM and Aftersales starting in 2019.
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ENDP | Hot Stocks18:35 EDT Endo obtains preliminary injunction against QuVa Pharma for vasopressin product - Endo's subsidiaries, Par Pharmaceutical and Par Sterile Products have obtained a preliminary injunction preventing QuVa Pharma from marketing and releasing its planned vasopressin product that would compete with Par's Vasostrict, the first and only vasopressin injection, USP, product approved by the FDA. The preliminary injunction is effective through the conclusion of a trial, which has not yet been scheduled. In August 2017, Par filed a complaint against QuVa and several individual defendants in the U.S. District Court for the District of New Jersey alleging, among other claims, the misappropriation of Par's trade secrets by the defendants in connection with QuVa's development of a bulk compounded vasopressin product.
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NSU | Hot Stocks18:32 EDT Nevsun Resources plans to invest extra $50M-$60M at Timok project in 2018 - Nevsun plans to invest a further $50 to $60 million at the Timok Project Upper Zone during 2018. This expenditure underscores the Company's conviction that the Timok Project is exceptional, offering amongst the highest project returns in the mining sector. The PFS results on the Timok Project Upper Zone will be released by the end of Q1 2018 followed by an initial reserve estimate. The Company will then proceed with preparation of a definitive feasibility study with an anticipated target completion date within H1 2019. The new objective of delivering an initial resource on the Timok Lower Zone was added to our original outlook. The Serbian government has issued the permit for construction of the exploration decline. An estimated $15 million of capital expenditure on the exploration decline is included in the 2018 budget for the Timok Project Upper Zone, with construction scheduled to start in Q2 2018. The increased capital expenditure on the Upper Zone in 2018 is offset by the reduced capital spend on the Lower Zone as $16.5 million of the agreed $20 million Lower Zone commitment was incurred in 2017. Approximately $1 million of Lower Zone spending is planned in 2018. Capital investment at Bisha will also decrease in 2018, with budgeted capital of $15 million, including $3 million on studies investigating options to extend the mine life and $12 million for sustaining capital. This compares to $29 million of capital spending in 2017. Exploration expenditure of $5 million is planned around the Timok Project Upper Zone. The 2018 budget includes approximately 12,500 metres of Upper Zone exploration drilling. Drilling will target new high grade, high sulphidation mineralization near the Timok Upper Zone, building on the promising exploration results announced in January 2018. Approximately 16,000 metres of exploration drilling is planned at the Company's 100% owned exploration projects in Serbia and Macedonia at a cost of $4 million. The exploration costs at Tilva in Serbia are predominantly funded by Rio Tinto as part of its earn-in agreement. A budget of $7 million for 15,000 metres of exploration drilling is planned at Bisha.
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EPC | Hot Stocks18:27 EDT Edgewell Personal Care says Jack Black acquisition to be EPS neutral in FY18 - Edgewell Personal Care announced that it has completed its previously announced acquisition of Jack Black, L.L.C., a leading U.S. based luxury men's skincare products company. Terms of the transaction were not disclosed. The acquisition was funded from operating cash and is expected to be EPS neutral in fiscal 2018.
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WFC | Hot Stocks18:00 EDT Wells Fargo announces retirement of several board members - In continuation of the board refreshment process begun in 2017, Wells Fargo & Company announced that John S. Chen, Lloyd H. Dean, and Enrique Hernandez, Jr., currently the board's longest serving directors, and Federico F. Pena, who was scheduled to retire from the board in 2019, have decided to retire at the company's 2018 Annual Meeting of Shareholders. As a result of these retirements, which are part of the board's regular succession planning practices, the board will nominate 12 of its current directors for election at the company's Annual Meeting of Shareholders, scheduled to be held on April 24, 2018.
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AAL | Hot Stocks17:57 EDT American Airlines to compete in low-cost trans-Atlantic market - Starting in April, American will introduce Basic Economy on some trans-Atlantic flights, "giving customers a new option for our lowest fares.We're following the same playbook in this latest expansion as we did for the initial rollout of Basic Economy. That includes training that began this week for Airports and Reservations team members and making it available in a limited number of markets first to make sure we get it right.In general, most options and restrictions for trans-Atlantic Basic Economy are similar to those for domestic Basic Economy or for short-haul international Basic Economy such as flights to Canada, although there are a few differences," said the airliner in a press release out earlier in the day. Reference Link
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GPS... | Hot Stocks17:37 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Gap (GPS), up 8.8%... Splunk (SPLK), up 6.6%... NeoPhotonics (NPTN), up 6.2%... Ambarella (AMBA), up 5.3%... Intrexon (XON), up 4.7%... Southwestern Energy (SWN), up 4.3%. ALSO HIGHER: MicroChip (MCHP), up 5.8% after it agreed to acquire Microsemi (MSCC) for $68.78 per share in cash and after it narrowed its financial guidance for the fourth quarter. DOWN AFTER EARNINGS: Babcock & Wilcox (BW), down 23.7%... Opko Health (OPK), down 16.7%... American Outdoor Brands (AOBC), down 12.4%... Omeros (OMER), down 8.4%... Pure Storage (PSTG), down 4.3%... VMware (VMW), down 0.5%. ALSO LOWER: Concert Pharmaceuticals (CNCE), down 9.8% after it filed a $250M mixed securities shelf... Sierra Oncology (SRRA), down 7.3% after it filed to sell common stock... Sturm, Ruger (RGR), down 5.9% after its peer American Outdoor Brands provided weak Q4 and FY18 guidance.
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NSU | Hot Stocks17:37 EDT Nevsun Resources receives Decline Exploration Permit for Timok Upper Zone - Nevsun Resources announced it received the Decline Exploration Permit from the Serbian Ministry of Mining and Energy for the Timok Upper Zone project. With this permit in place, the Timok project team will commence preparatory work and contracting for construction of the decline. The exploration decline is expected to take approximately two years to reach the Timok Upper Zone orebody.
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VMW | Hot Stocks17:35 EDT VMware says Q3 bookings contributed to Q4 revenues - Says "great" quarter across geographies and for products. Says revenues for bookings in Q3 contributed to good Q4 revenue numbers. Says new acquisitions are allowing customers to bet on VMware suite.
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BRO | Hot Stocks17:35 EDT Brown & Brown acquires Kerxton Insurance Agency and Fitness Underwriters - Brown & Brown subsidiary Brown & Brown Insurance Agency of Virginia has acquired substantially all of the assets of Kerxton Insurance Agency and Fitness Underwriters. With roots dating back to 1964, Kerxton Insurance has annual revenues of approximately $5.0M. The firm provides a wide variety of personal and business insurance products and services to clients in the Mid-Atlantic Region and throughout the U.S. Following the acquisition, Kerxton Insurance will re-locate to Brown & Brown's existing Manassas, Virginia office and will operate under the leadership of Bill Strachan.
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NKTR | Hot Stocks17:33 EDT Nektar jumps 4% to 88 per share after reporting Q4 financial results
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CWH | Hot Stocks17:27 EDT Camping World to delay filing annual report on Form 10-K - Camping World is unable to file its Annual Report on Form 10-K for the year ended December 31, 2017 within the prescribed time period without unreasonable effort or expense. In the Form 10-K, the Company expects to report material weaknesses in its internal control over financial reporting relating to the insufficient documentation of certain accounting policies and procedures within the Company's retail segment, and ineffective transactional level and management review controls over the valuation of used trade-in inventory. The identified material weaknesses required the Company to perform additional procedures and analyses in connection with the Company's annual financial statement close process and preparation of the Form 10-K, including the consolidated financial statements contained therein. As a result of these additional procedures and analyses, the Company is unable to file the Form 10-K within the prescribed time period. The Company expects to file the Form 10-K within the extension period of 15 calendar days as provided under Rule 12b-25 under the Securities Exchange Act of 1934, as amended. Notwithstanding the Company's inability to file the Form 10-K within the prescribed time period, the Company currently does not expect any changes to the financial results it previously reported in its press release dated February 27, 2018.
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RETA | Hot Stocks17:16 EDT Reata Pharmaceuticals announces topline Phase 2 data from study of Omaveloxolone - Reata Pharmaceuticals announced top-line data from the dose-escalation cohorts of the Phase 2 MOTOR trial of omaveloxolone for the treatment of patients with mitochondrial myopathies. This 12-week, exploratory, dose-ranging trial enrolled 53 patients across six dose levels. The purpose of the first-in-patient MOTOR trial was to evaluate initial safety, efficacy, pharmacokinetics, and pharmacodynamics of omaveloxolone in this patient population.The sample size of six to ten patients randomized to omaveloxolone and two to three randomized to placebo for safety controls at each dose level was based upon a traditional dose-escalation design. The small number of patients at each dose was not expected to fully characterize safety, efficacy, or pharmacodynamics, but rather to inform the data safety monitoring board and Reata of the appropriate dose to select for future study. The optimal dose of omaveloxolone associated with robust Nrf2 induction and improvement in markers of mitochondrial function was determined to be 160 mg. At this dose, significant, placebo-corrected improvements were noted in Nrf2 biomarkers. Clinical activity was assessed under maximal and submaximal conditions. The maximal exercise and 6-minute walk tests were used to determine peak workload and 6-minute walk distance, which reflect exercise capacity during maximal exertion. The submaximal exercise test measured mitochondrial function under submaximal conditions that reflect exertion levels during normal activities of daily living. Heart rate and blood lactate levels increase as mitochondrial function and aerobic capacity are depleted, and these were the two key parameters that were assessed during the submaximal exercise test. Clinical activity was observed during submaximal but not maximal exercise testing. Omaveloxolone did not improve peak work or 6-minute walk distance versus placebo, which were the primary and secondary endpoints of the trial. However, in the submaximal exercise test, which is a more sensitive assessment of mitochondrial function, a significant lowering of heart rate and blood lactate levels versus placebo was observed. At Week 12, patients treated with 160 mg of omaveloxolone demonstrated a placebo-corrected reduction in heart rate of 12.0 beats per minute (p=0.01) and blood lactate of 1.3 mM (p=0.04) at the end of the test (omaveloxolone, n=10; placebo, n=13). The decrease in heart rate and lactate levels produced by omaveloxolone are indicative of improved mitochondrial function.
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VMW DVMT | Hot Stocks17:15 EDT VMware says Dell Technologies partnership brings broad momentum - Says global customer momentum is "great". Says Dell partnership brings broad momentum. Says global carriers are preparing for imminent arrival of 5G. Comments taken from Q4 earnings conference call.
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VSAR | Hot Stocks17:11 EDT Versartis jumps 12.6% to $1.75 after quarterly earnings
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DRH | Hot Stocks17:08 EDT DiamondRock acquires The Landing Resort & Spa for $42M - DiamondRock Hospitality Company announced that it has acquired The Landing Resort & Spa, a luxury resort in Lake Tahoe, California, for $42M, or $545,000 per key. The acquisition represents a 7% yield on 2017 Hotel Adjusted EBITDA.
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DRH | Hot Stocks17:07 EDT DiamondRock acquires Kimpton Hotel Palomar for $80M - DiamondRock Hospitality Company announced that it has acquired the Kimpton Hotel Palomar, a lifestyle boutique hotel in the heart of downtown Phoenix, Arizona. The purchase price is $80M, or $331,000 per key, which represents a 12.6x multiple of the forward 12 months of hotel EBITDA.
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PCG | Hot Stocks17:01 EDT PG&E spent $2.58B with diverse suppliers in 2017 - Pacific Gas and Electric Company, or PG&E, announced that it spent $2.58B with diverse suppliers in 2017, accounting for 42.25% of its total procurement. For the sixth straight year, diverse suppliers accounted for $2B-plus of the company's spend and more than 40% of PG&E's total spend for the fifth consecutive year. In addition, PG&E eclipsed the California Public Utilities Commission's diverse spending goal of 21.5% for the 12th year in a row.
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APRI | Hot Stocks16:57 EDT Apricus Biosciences says focused on supporting the Vitaros NDA resubmission - "Since the end of the third quarter of 2017, we have been focused on supporting the Vitaros NDA resubmission and strengthening our balance sheet. While we were successful achieving the latter, we were extremely disappointed with the FDA's recent decision regarding the approval of Vitaros. As such, we will submit a request to the FDA for an end-of-review meeting in the coming weeks with a meeting expected to be scheduled in April per FDA guidelines. Our objective for this meeting is to determine the specific requirements needed to address the deficiencies noted in the Complete Response," stated Richard W. Pascoe, CEO. "In parallel, we will focus our efforts on identifying and evaluating opportunities or business combinations to maximize shareholder value, as we look reduce our expenses and extend our cash runway."
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WMIH | Hot Stocks16:57 EDT WMIH Regains compliance with Nasdaq minimum bid price listing requirement - WMIH received written notification from the Listing Qualifications Department of The Nasdaq Stock Market that WMIH has regained compliance with Nasdaq as a result of the closing bid price of the WMIH's common stock, par value $0.00001 per share, being greater than $1.00 per share for ten consecutive business days as of February 28. Nasdaq has informed WMIH that this matter is now resolved.
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RLOG | Hot Stocks16:55 EDT American Industrial Partners completes Rand Logistics acquisition - Rand Logistics announced that American Industrial Partners has completed its acquisition of the Company. AIP is a New York-based private equity firm with over $4B of assets under management that has focused on buying, improving and growing industrial businesses in the U.S. and Canada for over 20 years.The transaction, which includes the confirmation of the prepackaged Chapter 11 Plan related to Rand and certain of its subsidiaries, was consummated after all conditions to effectiveness in the Plan were satisfied or waived. As a result, the Company has emerged from Chapter 11 with a materially de-levered balance sheet and dramatically reduced annual interest expense. By virtue of the acquisition of the Company by AIP, Rand now enjoys its strongest financial position in recent years. "We are pleased to have completed the transaction and to be partners with a leading private equity firm that shares our vision for Rand's future," commented Edward Levy, President and Chief Executive Officer of Rand. Mr. Levy added, "The transaction has recast our balance sheet and positions the Company for continued customer service and growth."
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DIS | Hot Stocks16:54 EDT Disney moves next 'Avengers' film release to April 27 from May 4 - Disney's Marvel Studios tweeted that its upcoming superhero film "Avengers: Infinity War" will be in theaters everywhere on April 27, which is sooner than its prior release date of May 4. Reference Link
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AMBA GPRO | Hot Stocks16:53 EDT Ambarella 'pleased' with progress in diversifying customer base - Saw introduction of several new models in home monitoring camera models in Q4. Says "pleased" with progress in diversifying customer base. Sees non-GoPro (GPRO) revenues to decline in Q1. Guidance taken from Q4 earnings conference call.
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EFX | Hot Stocks16:48 EDT Equifax says certain ISO certifications have been suspended - In a regulatory filing, the company said, "Our revenue growth in 2017 as compared to 2016 was negatively impacted by the cybersecurity incident. Certain of our customers have determined to defer or cancel new contracts or projects and others could consider such actions unless and until we can provide assurances regarding our ability to prevent unauthorized access to our systems and the data we maintain. Many of our customers are requiring security audits of our systems and any negative results of such audits may cause further losses of customers. In addition, some of our current and potential customers and the contracts governing certain customer relationships, as well as certain of our data suppliers, require us to maintain International Organization for Standardization certifications, such as ISO 27001 certification, that specify requirements for establishing, implementing, operating, monitoring, reviewing, maintaining and improving a documented information security management system. Due to the 2017 cybersecurity incident, certain of our ISO certifications have been suspended and we will be required to take additional remediation steps to retain such certifications, which efforts may not be successful. Additionally, certain of our payment card industry certifications have been suspended which could result in fines and loss of access to data if we are not able to complete the necessary remediation steps to retain these certifications, which would adversely affect our ability to offer certain products to customers. If we are unable to demonstrate the security of our systems and the data we maintain and rebuild the trust of our customers, consumers and data suppliers, and if further negative publicity continues, we could experience a substantial negative impact on our business."
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TTEC | Hot Stocks16:48 EDT TeleTech declares increased semi-annual dividend - TTEC Holdings announced that on February 28, its board declared a cash dividend of 27c per common share to be paid on April 12 to shareholders of record as of March 30. This semi-annual dividend represents an approximate 23% increase over the dividend paid in April of last year.
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AKS | Hot Stocks16:45 EDT AK Steel applauds Trump administration plan to issue imported steel tariffs - AK Steel said that the company supports President Trump's announcement in which he indicated that next week he will formally announce significant tariffs on imported steels. This follows the Section 232 investigation initiated by the Department of Commerce in April 2017 to assess the threats to the national security of the United States caused by unfairly traded imports. AK Steel CEO Roger Newport and leaders of other steel companies in the U.S. joined President Trump at the White House today to discuss Section 232 remedies. "We support and commend President Trump for announcing today the actions he plans to take to stem the tide of unfairly traded steel imports that threaten the national security of our country," said Newport. "This is a strong, important step to combat the effects of global steel overcapacity and address actions by other countries to circumvent U.S. trade laws and orders designed to ensure a level playing field." AK Steel is the only steel manufacturer in North America that produces carbon, stainless and electrical steels. The company is also the sole remaining producer of electrical steel for electrical transformers in North America.
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OVID | Hot Stocks16:44 EDT Ovid Therapeutics announces multiple poster presentations - Ovid Therapeutics announced that it will present five poster presentations on OV101 and six poster presentations on TAK-935/OV935 at the American Academy of Neurology70th Annual Meeting, taking place from April 21-27, 2018, at the Los Angeles Convention Center in Los Angeles, California.
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MNKD | Hot Stocks16:40 EDT MannKind to initiate Phase 1 study of Treprostinil Technosphere - MannKind announced that it will initiate enrollment of patients in a Phase 1 clinical study of Treprostinil Technosphere, or TreT, under an Investigational new drug application filed with the FDA. TreT is proposed as a drug-device combination product for the treatment of patients with pulmonary arterial hypertension, utilizing a small, portable, breath-powered inhaler that is intended to simplify drug dosing. The primary objective of the Phase 1 clinical study is to investigate the safety, tolerability, and pharmacokinetics of TreT in healthy volunteers after dosing by oral inhalation. Secondary endpoints include the evaluation of systemic exposure and pharmacokinetics of TreT, including dose proportionality.
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EFX | Hot Stocks16:40 EDT Equifax records $26.5M of expenses in Q4 related to cybersecurity incident - During the fourth quarter and twelve months ended December 31, 2017, the company recorded expenses, net of insurance recoveries, of $26.5M and $114M, respectively, related to the cybersecurity incident announced in September of 2017.
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EFX | Hot Stocks16:39 EDT Equifax says Q4 results 'underscore solid progress on multiple fronts' - "Our fourth quarter results underscore solid progress on multiple fronts," said Paulino Barros, Interim Chief Executive Officer at Equifax. "We invested heavily in advancing our data security infrastructure and improving our consumer support, and we delivered on our financial commitments. While the job is not over, I believe we have responded well thanks to the strong support of our Board of Directors, the commitment of our Senior Leadership team, outside partners, and the dedication of our 10,000+ employees around the world. There will be a lot of heavy lifting in 2018 and 2019 as we implement new data security initiatives and restore confidence with our customers and consumers. The DNA of this company is underpinned with both a deep commitment to strong ethical principles and values and a strong focus on execution. As I have met with our employees throughout the world, I sense a great level of enthusiasm and commitment to move this company forward with a heightened level of focus on protecting and safeguarding all of the consumer and commercial information we store and manage."
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IONS RHHBY | Hot Stocks16:38 EDT Ionis Pharmaceuticals reports positive data from Huntington's disease candidate - Ionis Pharmaceuticals (IONS) presented positive top-line data from a completed Phase 1/2 study of IONIS-HTTRx in people with early stage Huntington's disease at the 13th Annual CHDI HD conference. The data demonstrate that IONIS-HTTRx is the first drug in development to lower the disease-causing protein in people with HD, a rare, progressive, neurodegenerative disease which results in the deterioration in mental abilities and physical control. Significant, dose-dependent reductions in mHTT were observed in CSF of treated participants with mHTT reductions of up to approximately 60% and mean reductions of approximately 40% in CSF observed at the two highest doses. A 40% to 60% reduction in CSF corresponds to an estimated 55% to 85% reduction in mHTT in the cortex and 20% to 50% in the caudate regions of the brain in humans. mHTT levels were continuing to decline at the last measurement with further decreases in mHTT anticipated; maximum reduction expected by approximately six months after first dose. No serious adverse events were reported in treated participants. An open-label extension study for patients who participated in the Phase 1/2 study is ongoing. Roche (RHHBY) is working to quickly advance IONIS-HTT Rx to a pivotal study
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NDAQ | Hot Stocks16:37 EDT Nasdaq files patent infringement lawsuit to protect intellectual property - Nasdaq filed a patent infringement lawsuit in the United States District Court for the District of New Jersey, aiming to protect Nasdaq's electronic trading technology from unauthorized use by IEX Group, Inc. and Investors Exchange LLC. The seven patents asserted in the lawsuit represent millions of dollars in investment over decades, and cover several industry-leading innovations. These patents contribute to the performance of Nasdaq's trading platforms related to closing auction processes, multi-parallel order processing, matching engine performance, and data feed optimizations. The lawsuit asserts IEX knowingly violated this series of Nasdaq patents in the development of its trading platform. The lawsuit seeks to stop, and obtain fair compensation for, IEX's unauthorized use of Nasdaq intellectual property.
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AOBC | Hot Stocks16:36 EDT American Outdoor Brands down 20% to $7.54 after weak Q4, FY18 guidance
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UTL | Hot Stocks16:35 EDT Unitil CEO Robert Schoenberger to retire - Unitil Corporation announced that Robert Schoenberger will retire as chairman, president and CEO on April 25. Schoenberger has also decided not to stand for re-election to the board at the company's 2018 Annual Meeting of Shareholders on April 25. As part of the company's leadership succession plan, Thomas Meissner, Jr., the company's senior VP and COO, has been selected by the board to succeed Schoenberger as chairman, president and CEO on April 25. Meissner is expected to be elected to the board by the company's shareholders at the 2018 Annual Meeting for a term of three years.
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URI | Hot Stocks16:35 EDT United Rentals acquires assets of Industrial Rental Services from JMH Capital - United Rentals announced that it has acquired the assets of Industrial Rental Services, LLC from JMH Capital. Industrial Rental Services is a leading U.S. provider of two-way radio solutions and industrial blinds, primarily in the Gulf and West Coast regions. The acquisition expands the company's Tool Solutions specialty rental fleet by over 35,000 isolation blinds, flanges and racking systems for industrial applications, as well as approximately 16,000 radios, repeaters and accessories for plant maintenance and construction personnel. The radios are designed for safe operation in petrochemical, oil refinery, pulp and paper, and power generation environments.
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AOBC | Hot Stocks16:35 EDT American Outdoor Brands trading resumes
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SLM | Hot Stocks16:34 EDT Sallie Mae names Nicolas Jafarieh as General Counsel - Sallie Mae announced the appointment of Nicolas Jafarieh to general counsel. Jafarieh succeeds Laurent Lutz, executive vice president, general counsel, and corporate secretary, who announced his retirement. Richard Nelson, senior vice president, chief regulatory counsel, will add the role of corporate secretary. Jafarieh joined Sallie Mae in 2008 and has extensive experience in financial services and consumer protection.
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VMW | Hot Stocks16:33 EDT VMware up over 1% after reporting quarterly earnings
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EHC | Hot Stocks16:33 EDT Encompass Health and Premier Health to build inpatient rehabilitation hospital - Encompass Health and Premier Health announced plans to build a 60-bed inpatient rehabilitation hospital in Dayton, Ohio. The Rehabilitation Institute of Ohio, a joint venture with Encompass Health, is expected to open in early 2020 on the campus of Miami Valley Hospital. When the new hospital is complete and all regulatory approvals are obtained, Encompass Health's HealthSouth Rehabilitation Hospital of Dayton will relocate to the new facility, and Premier Health will contribute its inpatient rehabilitation business located in its Miami Valley Hospital to the joint venture. Encompass Health will manage the joint venture hospital's operations. The Rehabilitation Institute of Ohio is expected to represent a $27M investment in the community. The formation of the joint venture is subject to negotiation of definitive agreements and customary closing conditions, and the joint venture's operation in the new location is subject to regulatory approvals.
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EQR | Hot Stocks16:33 EDT Equity Residential COO Santee to retire, Manelis named successor - Equity Residential announced that David S. Santee, Executive Vice President and Chief Operating Officer, will step down as COO on June 30, 2018 and retire by year-end. The company also announced that Michael L. Manelis, Executive Vice President of Property Operations, will become the company's COO effective July 1, 2018.
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VMW | Hot Stocks16:32 EDT VMware reports Q4 billings growth plus 14%
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TDOC MSFT | Hot Stocks16:32 EDT Teladoc expands collaboration with Microsoft - Teladoc (TDOC) announced its expanded collaboration with Microsoft (MSFT). The organizations will be working together to advance the delivery of telehealth, with Teladoc's platform running on the Microsoft Azure cloud platform. As a result of the joint go-to-market strategy, hospitals and health systems across the U.S. will have greater access to the virtual care solution to meet their business needs.
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PNW | Hot Stocks16:32 EDT APS customers to see $5.40 average reduction to monthly bill after tax reform - Starting tomorrow, APS customers will see an average reduction of $5.40 on their monthly bill as a result of $119M in federal corporate tax cuts. Anticipating federal tax reform, APS included a new adjustor in the company's most recent rate review to pass savings directly back to customers. These savings exceed the $95M revenue increase from APS's 2017 rate settlement. APS is the principal subsidiary of Pinnacle West Capital Corp.
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RTTR | Hot Stocks16:31 EDT Ritter Pharmaceuticals approves 1-for-10 reverse stock split - Ritter Pharmaceuticals announced that its board has set a ratio of 1-for-10 for its previously approved reverse stock split of its common stock, and an anticipated effective date for the reverse stock split of on or before March 23. The reverse stock split was approved by the company's stockholders at its special meeting of stockholders on December 20, 2017, where the company's stockholders granted to the board the authority to amend the company's amended and restated certificate of incorporation, as amended, to effect a reverse stock split of the outstanding shares of the company's common stock, at a ratio of 1-for-8 to 1-for-15, as determined by the board.
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CECO | Hot Stocks16:31 EDT Career Education names Ashish Ghia as new CFO/SVP - Career Education announced the appointment of Ashish Ghia as Senior Vice President and Chief Financial Officer, effective today. Mr. Ghia has served as Interim Chief Financial Officer since September 21, 2017. Mr. Ghia joined the company in June 2008 and has served in various financial planning and analysis roles with increasing responsibility, including as Vice President Finance since February 2016 and Vice President Financial Planning & Analysis from October 2012 through January 2016. Mr. Ghia has also served as Assistant Treasurer of the company since August 2016. Prior to joining the company in June 2008, Mr. Ghia was a Business Finance Manager with Sears Holdings Corporation from 2006 to 2008 and also held associate positions with PricewaterhouseCoopers LLP and Ernst & Young.
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AVAV | Hot Stocks16:31 EDT Jury awards AeroVironment damages of over $2.4M in MicaSense case - AeroVironment announced that it won an important jury verdict in Ventura County Superior Court. On February 26 the jury found that former AeroVironment employees, Gabriel Torres, Justin McAllister, and Jeff McBride engaged in fraud, and that Torres and McAllister breached their respective Patent and Confidentiality Agreements. The jury also awarded punitive damages against all three defendants. The total verdict was more than $2.4M. Torres, McAllister, and McBride are founders of MicaSense, Inc., which is majority-owned by Parrot SA.
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AOBC | Hot Stocks16:30 EDT American Outdoor Brands reports Q3 gross margin 29.8% vs. 42.5% a year ago
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MSCC | Hot Stocks16:30 EDT Microsemi trading resumes
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MCHP | Hot Stocks16:30 EDT Microchip trading resumes
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FFG | Hot Stocks16:29 EDT FBL Financial raises quarterly dividend 4.5%, authorizes $50M stock buyback - FBL Financial Group announces a 4.5% increase in its quarterly cash dividend to 46c per share, a special cash dividend of $1.50 per share and authorization for the repurchase of up to $50M of its Class A common stock. FBL Financial Group's Board of Directors has declared a quarterly cash dividend of 46c per share, payable on March 29, 2018 to Class A and Class B common stockholders of record as of March 15, 2018. This represents a 4.5% increase from the prior quarterly dividend of 44c per share paid in December 2017, and reflects an annual indicated dividend rate of $1.84 per share. Based on this dividend rate, FBL Financial Group's indicated dividend yield is currently 2.8%.
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VEC | Hot Stocks16:29 EDT Vectrus announces five-year plan, goal to grow revenue to $2.5B - "In 2018 and beyond, we will continue to execute our strategy to become a leader in the converged infrastructure market within government services," said Prow. "We will aggressively explore new and adjacent markets, enhanced capabilities, and additional channels to drive growth and increase shareholder value. Specifically, we have established a five-year plan and goal to grow revenue to $2.5 billion and expand EBITDA margins to 7 percent. This is clearly an aggressive goal but we see a path forward to achieve this plan through a combination of both strategic organic and purposeful inorganic growth activities."
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GSL | Hot Stocks16:28 EDT Global Ship Lease acquires containership for $11.3M - Global Ship Lease announced that it has agreed to acquire a 2005-built, 2,800 TEU containership for a purchase price of $11.3M. Following delivery, which is expected to be during Q2 of 2018 once the existing charter terminates, the vessel will be renamed and will commence charter employment with CMA CGM for a period of 12 months at a fixed rate of $9,000 per day. With this addition, the company's fleet will comprise 19 vessels with a total capacity of 85,112 TEU.
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OFC | Hot Stocks16:28 EDT Corporate Office Properties leases 84% of University Research Court - Corporate Office Properties Trust executed a 60,000 square foot lease at 5801 University Research Court, a three-story, 71,000 square foot building under construction in the University of Maryland's Discovery District. The Discovery District is a key piece of the university's Greater College Park initiative, a $2 billion public-private investment to revitalize the Baltimore Avenue corridor and academic campus. The approximately 150-acre Discovery District will be an epicenter of academic, research, and economic development. Located at the intersection of the existing Green and future Purple Metro Lines, this mixed-use district will serve as a key gateway to the University of Maryland. The lease represents 84% of the building's rentable square feet, and the start date is scheduled for July 2018. With this transaction, COPT's active construction pipeline of 742,000 square feet in seven separate developments is now 91% leased.
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MRCY | Hot Stocks16:27 EDT Mercury Systems receives $3.8M follow-on order - Mercury Systems announced it received a $3.8M follow-on order from a leading defense prime contractor for state-of-the-art radio frequency subsystems that are integrated into an advanced airborne electronic warfare system. The orders were booked in the company's Q2 and are expected to be shipped over the next several quarters.
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UEPS | Hot Stocks16:26 EDT Net 1 UEPS affiliate Bank Frick now permits direct investments in cryptos - Net 1 UEPS Technologies, announced that its affiliate Bank Frick & Co., a fully licensed bank based in Balzers, Liechtenstein, has become the first financial institution in Liechtenstein to offer the trading of five leading crypto-currencies and secure safekeeping via offline storage. The trading takes place within the fully regulated framework of the Bank's processes and is aimed at professional market participants and financial intermediaries.
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HGT | Hot Stocks16:26 EDT Hugoton Royalty Trust - Hugoton Royalty Trust's Trustee Simmons Bank has received a notice from the NYSE that the Trust has fallen below the NYSE continued listing requirement that the average closing price of the Trust's units be at least $1.00 per share over a period of 30 consecutive trading days. 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.
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SO | Hot Stocks16:24 EDT Southern Power CEO Joseph "Buzz" Miller to retire, Mark Lantrip to succeed - After 32 years of service to Southern Company, Joseph "Buzz" Miller, chairman, president and CEO of Southern Power, has announced his retirement, effective April 1. Mark Lantrip, Southern Company Services chairman, president and CEO, will serve as interim chairman, president and CEO of Southern Power until a permanent replacement is chosen.
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STRA CPLA | Hot Stocks16:24 EDT Strayer sees Capella merger closing in Q3 - Strayer said, "On January 19, 2018, stockholders of both Strayer Education, Inc. and Capella Education Company approved all proposals related to the pending merger. On February 27, 2018, the U.S. Department of Education completed its pre-acquisition review of the transaction without any material conditions, and the U.S. Federal Trade Commission in November 2017 granted early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The merger, which is anticipated to close in the third quarter of 2018, is subject to the satisfaction of customary closing conditions, including approval by the Higher Learning Commission."
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STRA | Hot Stocks16:23 EDT Strayer plans to open 3-5 new campus locations in 2018 - Strayer announced that it plans to open three to five new campus locations in 2018. The first new campus, located in Macon, Georgia, will open for the start of the spring academic term. It added, "The Macon campus and subsequent new campuses will incorporate a new smaller cost-efficient design intended to service a student body that values a brick-and-mortar presence, even while taking an increasing majority of their courses online."
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BMY | Hot Stocks16:22 EDT Bristol-Myers raises quarterly dividend to 40c per share - The board of directors of Bristol-Myers Squibb declared a quarterly dividend of 40c per share on the 10c par value Common Stock of the corporation. The next quarterly dividend will be payable on May 1, 2018, to stockholders of record at the close of business on April 6, 2018.
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STRA | Hot Stocks16:22 EDT Strayer sees Q1 Strayer University enrollments up 6% - The company said, "Total enrollments at Strayer University for the first quarter 2018 are anticipated to grow 6% to approximately 46,100 students from 43,387 students for the same period in 2016. New student enrollments and continuing student enrollments are expected to increase approximately 6% each. Revenue per student for the first quarter is expected to decrease by approximately 5% due primarily to higher continuation of students participating in new scholarship programs launched in the fall term 2017. Notwithstanding continued declines in revenue per student, the Company expects year over year revenue growth in the first quarter. Additionally, the Company expects the tax rate for the first quarter to be in the range of 21% to 22%, excluding the impact of non-deductible merger costs.
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NGVT | Hot Stocks16:22 EDT Ingevity receives FTC clearance to buy Georgia-Pacific's pine chemicals business - Ingevity announced that the U.S. Federal Trade Commission has cleared Ingevity's proposed acquisition of Georgia-Pacific's pine chemicals business, which was announced on August 22, 2017. Ingevity expects to close on the transaction in the first quarter of 2018. Georgia-Pacific's pine chemicals business manufactures and sells pine-based tall oil fatty acids, tall oil rosin, and tall oil rosin esters used in adhesives, cleaners, paints and other coatings, inks, metalworking, mining, oilfield, packaging and rubber processing. The business manufactures the majority of its products at a Georgia-Pacific site in Crossett, Ark., and employs approximately 70 people.
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NDLS | Hot Stocks16:22 EDT Noodles & Company appoints Chas Hermann Chief Brand Officer - Noodles & Company announced that Chas Hermann has been named Chief Brand Officer, effective March 5. Hermann's responsibilities will include developing and executing the company's marketing, menu, and culinary strategy. He will report directly to CEO Dave Boennighausen.
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CPLA | Hot Stocks16:21 EDT Capella Education says FY18 is to deliver 'continued revenue growth' - The company's goal for 2018 is to deliver continued revenue growth. To achieve this goal, annual new enrollment growth will be needed in a continuing volatile enrollment environment, as well as stable or improving early cohort persistence and continued revenue growth in the Job-Ready Skills segment. In addition, the company is managing the Job-Ready Skills segment to be less dilutive in 2018. The tax rate for recurring operations for Capella Education Company in 2018 is currently expected to be about 24 to 25 percent related to the United States tax reform legislation passed at the end of 2017, which reduced the federal corporate tax rate.
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MCHP MSCC | Hot Stocks16:19 EDT Microchip Technology to acquire Microsemi, sees immediate accretion - Microchip Technology (MCHP)and Microsemi(MSCC) announced that the two companies have signed a definitive agreement pursuant to which Microchip will acquire Microsemi for $68.78 per share in cash. The acquisition price represents a total equity value of about $8.35B, and a total enterprise value of about $10.15B, after accounting for Microsemi's cash and investments, net of debt, on its balance sheet at December 31."We are delighted to welcome Microsemi to become part of the Microchip team and look forward to closing the transaction and working together to realize the benefits of a combined team pursuing a unified strategy. Even as we execute a very successful Microchip 2.0 strategy that is enabling organic revenue growth in the mid to high single digits, Microchip continues to view accretive acquisitions as a key strategy to deliver incremental growth and stockholder value. The Microsemi acquisition is the latest chapter of this strategy and will add further operational and customer scale to Microchip," said Steve Sanghi, Chairman and CEO of Microchip.Following the closing, the transaction is expected to be immediately accretive to Microchip's non-GAAP earnings per share. Based on currently available information, Microchip anticipates achieving an estimated $300M in synergies in the third year after close of transaction. Microchip plans to finance the transaction with approximately $1.6B of cash from the combined company balance sheets, approximately $3B from Microchip's existing line of credit, approximately $5B in new debt and $0.6B of a cash bridge loan. The Board of Directors of each company has unanimously approved the acquisition. Subject to approval by Microsemi stockholders, customary regulatory approvals and other closing conditions, the transaction is expected to close in the second quarter of calendar 2018.
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GPS | Hot Stocks16:19 EDT Gap rises over 10% afterhours following Q4 earnings and FY18 outlook
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DDS | Hot Stocks16:16 EDT Dillard's announces new $500 share repurchase program - Dillard's announced that the board of directors has approved a new share repurchase program authorizing the company to repurchase up to $500M of its Class A Common Stock. The new open-ended authorization permits the company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934 or through privately negotiated transactions. At February 3, 2018, authorization of $34.8M remained under the company's February 2016 share repurchase plan.
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JWN | Hot Stocks16:14 EDT Nordstrom falls over 4% afterhours following Q4 earnings
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EVBG | Hot Stocks16:14 EDT Everbridge commences cash offer to acquire UMS issued share capital - Everbridge Holdings Limited and Everbridge announced the commencement of the voluntary cash offer to acquire the entire issued share capital of Unified Messaging Systems ASA for NOK1.37 per share. The Offer values the total share capital of UMS at approximately $33.6M. This excludes the value of shares issuable upon exercise of existing outstanding options. The offer price represents a 44.8% premium to UMS' closing share price on 13 February 2018 and a 48.1% and 46.2% premium to the 90 day and 180-day volume weighted average stock price on 13 February 2018, the last trading day prior to the announcement of the Offer, respectively. The Board of Directors of UMS has recommended that the shareholders accept the Offer. The recommendation by the Board of Directors of UMS is included in the Offer document. This recommendation is not the formal statement about the Offer in accordance with section 6-16 c.f. 6-19 of the Norwegian Securities Trading Act. Sparebank 1 Markets AS has provided an independent statement regarding the Offer in accordance with this regulation, which is also included in the Offer document. The Offer period starts on 2 March 2018 and expires on 16 March 2018 at 16:30 CET, subject to any extension. Everbridge has obtained pre-acceptances representing approximately 68.2% of UMS' issued share capital. In addition, Everbridge has entered into conditional purchase agreements with holders of 2,285,000 share options whereby Everbridge will purchase these options at a price equal to the difference between the Offer price and the exercise price for the share options, subject to closing of the Offer.
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CLF | Hot Stocks16:12 EDT Cleveland-Cliffs CEO 'applauds' Trump tariff plans on steel imports - Cleveland-Cliffs issued the following statement regarding President Trump's announcement of tariffs of 25 percent on steel imported to the United States. Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said, "We applaud and thank President Trump for taking real action under Section 232 to punish the perpetrators and enablers of unfairly traded steel. The 25 percent tariffs to be imposed next week will support our ability to continue to produce iron ore pellets and steel in our country, enhancing a vibrant manufacturing economy and our national security. Artificially cheap steel boosted by subsidies, dumping and circumvention are not signs of competitiveness; these are just signs of blatant disregard to real free trade and to our trade laws. Once free from these unfair practices, we will finally have a level playing field for steel in the United States. Going forward, we expect that the Administration will fully enforce the announced actions, making sure that the offenders, particularly the enablers within our borders, will be treated as seriously as they deserve."
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GPS | Hot Stocks16:11 EDT Gap raises quarterly dividend from 23c to 24.25c per share - The dividend is payable on or after May 2, 2018 to shareholders of record at the close of business on April 11, 2018.
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TTPH | Hot Stocks16:11 EDT Tetraphase promotes Edwards to COO - Tetraphase Pharmaceuticals announced the promotion of Larry Edwards, Chief Commercial Officer, to Chief Operating Officer. In his new role as COO Larry will also continue to oversee all aspects of pre-commercialization activities for eravacycline in complicated intra-abdominal infections.
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NTNX | Hot Stocks16:10 EDT Nutanix announces intent to acquire Minjar - Nutanix announced that it has entered into a definitive agreement to acquire Minjar, the maker of Botmetric, a service that provides customers with unified cost control and enhanced visibility into their workloads running in public clouds. Botmetric, along with Minjar's other cloud solutions SmartAssist Assurance and SmartAssist Managed Cloud, help enterprises embrace the cloud effectively and optimize their multi-cloud environments for performance and cost. The closing of the acquisition is subject to the satisfaction of customary closing conditions. Minjar and Botmetric customers can expect further communication from Nutanix following the closing of the acquisition. Sunil Potti, Chief Product and Development Officer, Nutanix, said, "As one of the earliest partners to the leading public clouds, the experience and insights garnered from multiple cloud-native deployments have enabled Minjar to build a robust offering in Botmetric. Minjar's customer focus and philosophy of one-click simplicity is extremely well aligned with our own, and we are honored to soon welcome them to the Nutanix team. We are looking forward to offering our customers the full breadth of Minjar's multi-cloud capabilities while deeply integrating them into our Enterprise Cloud OS."
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AOBC | Hot Stocks16:09 EDT American Outdoor Brands says Q3 results reflect 'challenging market conditions' - James Debney, American Outdoor Brands Corporation President and CEO, commented, "Our results for the third quarter reflected a continuation of challenging market conditions in the consumer market for firearms. Lower shipments in our Firearms business were driven by a reduction in wholesaler and retailer orders versus the prior year, and were partially offset by double-digit revenue growth within our Outdoor Products and Accessories segment. Overall, our long-term strategy remains focused on being the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast. While our new product pipeline is robust and channel inventory levels appear to be improving, we believe that the new, lower levels of consumer firearm demand we saw reflected in the January NICS results may continue for some time. Going forward, we will operate our business under the assumption that the next 12-18 months could deliver flattish revenues in Firearms. Should market conditions change, our flexible manufacturing model would allow us to quickly ramp production. In the meantime, we will continue to focus on organic growth in our Outdoor Products and Accessories business and on company-wide cost reduction efforts. At the same time, we will continue to invest in our new distribution center, an important strategic initiative designed to lower our overall cost structure."
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JWN | Hot Stocks16:09 EDT Nordstrom to open 13 new stores in U.S., Canada in 2018 - Nordstrom announced plans to open new stores in fiscal 2018, consisting of one new full-line store, 12 new Nordstrom Rack stores and one Nordstrom Rack store relocation. These new openings include a U.S. Men's Nordstrom Store in New York and many Nordstrom Racks across the U.S. and Canada.
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PBYI | Hot Stocks16:07 EDT Puma Biotechnology needs more time to complete, file 10-K - Puma Biotechnology said: "Due to unanticipated delays by Puma surrounding certain disclosures related to tax and tax reform, Puma needs more time to complete its financial statements and to prepare its Form 10-K for the fiscal year ended December 31, 2017. As a result, Puma is not in a position to file its Form 10-K within the prescribed time period without unreasonable expense and effort. Puma expects that its Form 10-K will be filed within the 15 day period specified by Rule 12b-25(b)(2)(ii) of the Securities Exchange Act of 1934, as amended."
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MCHP MSCC | Hot Stocks16:06 EDT Microchip to buy Microsemi for $68.78 per share in cash
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OUT | Hot Stocks16:02 EDT Outfront Media awarded billboard management contract by Massachusetts Bay - Outfront Media has been awarded a new contract with the Massachusetts Bay Transportation Authority to manage 125 billboards on MBTA's owned properties. Outfront is scheduled to begin operations on March 4. This contract marks an expansion of Outfront's ongoing partnership with the MBTA. Outfront will now be able to integrate billboards with the existing MBTA subway and commuter rail advertising inventory it currently manages.
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TAP | Hot Stocks16:00 EDT MillerCoors 'disappointed' with aluminum tariff as may 'lead to job losses' - After President Trump announced that the U.S. is imposing a 10% tariff on aluminum imports, MillerCoors used its Twitter account to say: "We are disappointed with President Trump's announcement of a 10% tariff on aluminum. While we won't know the details for a week, the Department of Defense recently reported that aluminum does not cause any national security issues. Like most brewers, we are selling an increasing amount of our beers in aluminum cans, and this action will cause aluminum prices to rise. It is likely to lead to job losses across the beer industry. We buy as much domestic can sheet aluminum as is available, however, there simply isn't enough supply to satisfy the demands of American beverage makers like us. American workers and American consumers will suffer as a result of this misguided tariff."
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AOBC | Hot Stocks16:00 EDT American Outdoor Brands trading halted, news pending
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MSCC | Hot Stocks16:00 EDT Microsemi trading halted, news pending
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MCHP | Hot Stocks16:00 EDT Microchip trading halted, news pending
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MSCA | Hot Stocks15:57 EDT Main Street Capital trading resumes
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CENX | Hot Stocks15:48 EDT Century Aluminum CEO 'applauds' Trump's tariffs decision - President Donald J. Trump announced that his administration would impose tariffs, pursuant to Section 232 of the Trade Expansion Act, to stop the flood of foreign aluminum imports that have been destroying the U.S. aluminum industry and threatening our nation's national security. Michael Bless, Century Aluminum Company's President and Chief Executive Officer, praised the President's determination: "President Trump's commitment is critical for the U.S. aluminum industry. The President's bold leadership on the aluminum Sec. 232 will protect our country's national security and help level the playing field for thousands of American aluminum workers. Thanks to the President's leadership, once the tariffs are in place, we will work with the Commonwealth of Kentucky to restart our idled Hawesville, KY smelter, including the high purity production that is so critical to our nation's defense, and bring back American jobs as soon as possible."
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BA | Hot Stocks15:47 EDT Boeing receives $73M Navy F/A-18 fleet contract - Boeing has been awarded a contract to modernize the U.S. Navy F/A-18 fleet, extending the life of existing Super Hornets from 6,000 to 9,000+ flight hours. In the early 2020s, Boeing will begin installing initial updates to the aircraft that will convert existing Block II Super Hornets to a new Block III configuration. The Block III conversion will include enhanced network capability, longer range with conformal fuel tanks, an advanced cockpit system, signature improvements and an enhanced communication system. The updates are expected to keep the F/A-18 in active service for decades to come. The indefinite-delivery contract is for up to $73M. Work begins in April on an initial lot of four aircraft at Boeing's St. Louis production center. An additional production line will be established in San Antonio, Texas in 2019. Additional follow-on contracts could be awarded over the next 10 years. The U.S. Navy fleet consists of 568 Super Hornets.
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SQM... | Hot Stocks15:25 EDT Lithium producers continue decline after SQM reports earnings, concerns - Lithium producers continue to fall after Chilean miner SQM (SQM) reported quarterly earnings Wednesday night. SQM reported fourth quarter net income of $110.5M, missing Bloomberg estimates of $111.7M. With its earnings release, SQM said it will only expand production beyond 2019 "based on market conditions" as an increase in mining of late, to capitalize on electric car battery demand may cause an over-supply situation. According to industry publication, Mining Global, lithium is the lightest and least alkali metal and is used in dryers, air conditioners, medicines and electric car batteries like those used in Tesla (TSLA) models. MORGAN STANLEY SEES GLUT: This past Monday, Morgan Stanley cautioned investors in a research note of a "significant oversupply" for the lithium market. The Morgan Stanley said it expects prices for lithium to plunge about 45% by 2021. PRICE ACTION: SQM is down almost 6% to $47.09 per share in late afternoon trading. OTHERS TO WATCH: Shares of FMC Corporation (FMC) are down 0.43% to $78.14, while Albemarle is lower by 4.5% to $95.82 per share.
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FNJN SYMC | Hot Stocks15:24 EDT Finjan Holdings, Symantec resolve all pending disputes - Finjan Holdings (FNJN) and its subsidiary, Finjan, Inc., and Symantec (SYMC) and its subsidiary, Blue Coat Systems, announce they entered into a Confidential Definitive Agreement on February 28, whereby the companies resolved all pending disputes.
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CENX | Hot Stocks15:20 EDT Century Aluminum 'applauds' President Trump's decision of 'broad relief' - After President Donald Trump announced that his administration would impose tariffs, pursuant to Section 232 of the Trade Expansion Act, to stop the "flood of foreign aluminum imports," Michael Bless, Century Aluminum President and CEO, issued the following statement: "President Trump's commitment is critical for the U.S. aluminum industry. The President's bold leadership on the aluminum Sec. 232 will protect our country's national security and help level the playing field for thousands of American aluminum workers. Thanks to the President's leadership, once the tariffs are in place, we will work with the Commonwealth of Kentucky to restart our idled Hawesville, KY smelter, including the high purity production that is so critical to our nation's defense, and bring back American jobs as soon as possible."
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X... | Hot Stocks15:06 EDT Trump Effect: Steel, aluminum stocks rise as broader market sinks on tariff news - Shares of steel and aluminum companies are on the rise after President Donald Trump announced that the U.S. will set tariffs on steel and aluminum imports next week. However, the U.S. equity indexes did not react well to the news, with the Dow Jones industrial average plunging over 500 points following the proclamation. TARIFFS ON IMPORTED STEEL, ALUMINUM: In a press conference, President Donald Trump announced that he plans to impose 25% tariffs on steel imports and 10% tariffs on imported aluminum as he moves to fulfill a key campaign promise to get tough on foreign competitors. The President did not clarify if some countries would be exempt from the tariffs, namely key U.S. allies. Trump noted that the move, which is expected to take place next week, was necessary due to what he described as a trade imbalance benefiting other countries. Using his Twitter account, the President added: "Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world. We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!" Following the news, U.S. Steel (X) CEO David Burritt thanked President Trump for his leadership on tariffs. "We want a level playing field," Burritt says. NAMES TO WATCH: In afternoon trading, shares of U.S. Steel have gained 5%, Steel Dynamics (STLD) has advanced 4%, Nucor (NUE) is up 3%, and AK Steel (AKS) has jumped 7%. Also higher is Century Aluminum (CENX), which has gained 6% following the announcement. STOCKS UNDER PRESSURE: However, raising concerns of protectionists trade policies sent the broader stock market averages lower. Of note are automakers, as shares of Ford Motor (F) and General Motors (GM) are near session lows, dropping about 3.5% and 5%, respectively, in late day trading. "Trump Effect" is The Fly's recurring series of exclusive stories that highlight stocks that are being impacted, or are predicted to be impacted, by the comments, actions and policies of President Trump and his administration.
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SAVE | Hot Stocks15:05 EDT Spirit Airlines backs FY18 ASMs growth view of about 23% - Sees FY18 adjusted operating expense ex-fuel per ASM flat to down 1%. Sees FY18 CapEx $649M.
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SAVE | Hot Stocks15:03 EDT Spirit Airlines sees Q1 ASMs up 21.7% - Sees Q1 TRASM down 1%-1.25%. Sees Q1 adjusted operating expense ex-fuel per ASM down roughly 3%.
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MNST | Hot Stocks14:31 EDT Monster Beverage authorizes new $250M share repurchase program - Monster Beverage announced that its board of directors has authorized a new share repurchase program for the repurchase of up to $250M of the company's outstanding common stock. As $250M remains available for grant under the company's prior repurchase plan, the aggregate amount available to repurchase the company's common stock is currently $500M.
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F... | Hot Stocks14:27 EDT Automakers drop sharply in maket sell-off after Trumps steel tarriffs - Automakers are dropping sharply today after President Donald Trump announced severe tariffs on steel and aluminum imports. Automakers may be impacted by the possible implications from higher input costs in the manufacturing process.General Motors (GM) Fiat Chrysler (FCAU) Volkswagen (VLKAY) are all down in afternoon trading with GM down the most, losing almost 5% in afternoon trading.
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FB | Hot Stocks13:59 EDT Facebook ending Explore Feed test - Facebook said in a blog post that it is ending its Explore Feed test, saying that users don't want two separate feeds on the social network. "In surveys, people told us they were less satisfied with the posts they were seeing, and having two separate feeds didn't actually help them connect more with friends and family," the company said. Separately, the company is also discontinuing the Explore Feed bookmark globally this week. Explore gave people a new feed of content to discover Pages and public figures they hadn't previously followed. "We concluded that Explore isn't an effective way for people to discover new content on Facebook," the social network giant said. Reference Link
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WAGE | Hot Stocks13:47 EDT WageWorks resumes trading, shares down 22% after 10K filing delayed
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WAGE | Hot Stocks13:46 EDT Wageworks trading resumes
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WAGE | Hot Stocks13:31 EDT WageWorks delays annual report, sees filing ' as soon as practicable' - WageWorks announced that it is delaying its annual report for the year ended December 31, 2017 and its financial results and associated conference call for Q4 of 2017. "The Company expects to provide an update as soon as practicable."
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IDCC | Hot Stocks13:30 EDT InterDigital trading resumes
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CENX | Hot Stocks13:21 EDT Century Aluminum to hire 300 people after tariffs, CEO says - Century Aluminum CEO Michael Bless said on CNBC that his company will hire 300 people as a result of the tariffs announced by President Trump.
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DWDP | Hot Stocks13:07 EDT DowDuPont agriculture division outlines future strategy ahead of spin off - Corteva Agriscience, Agriculture Division of DowDuPont COO James Collins, Jr. presented an update on the Agriculture Division financial performance and strategic progress during the 2018 Bank of America Merrill Lynch Global Agriculture & Chemicals Conference - providing a view of the Division's recent cost synergy achievements, as well as near-term product launches and longer term portfolio growth drivers. "We are coming out of 2017 from a position of strength, with a strong pipeline and playbook of cost and growth synergies that will enable us to continue to deliver earnings growth even within an uncertain market environment," Collins said. In an update on the Agriculture Division's progress toward its expected spin by June 1, 2019, Collins affirmed the Division's cost synergy commitment of approximately $1.1B -- sharing plans to deliver approximately $300M in cost synergies in 2018 vs. 2017. Synergy progress in 2018 is expected to come from actions to further streamline its operating structure, minimize its asset footprint and optimize its product portfolio. Growth drivers in the near term include product launches across the combined R&D pipelines - with $4.5B in peak sales expected from recent and upcoming launches in the 2017 to 2018 timeframe.
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SPX SPY | Hot Stocks13:07 EDT Icahn says looking out two years, 'have to be cognizant' of market's dangers - Carl Icahn is speaking on CNBC.
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SPX SPY | Hot Stocks13:03 EDT Icahn sees 'too many variables' to know short-term market moves - Carl Icahn is speaking on CNBC.
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IDCC TCLRY | Hot Stocks13:03 EDT InterDigital announces offer to acquire Technicolor patent licensing business - Interdigital (IDCC) announced that it has made a binding offer to purchase the patent licensing business of Technicolor (TCLRY) for $150M in cash plus future contingent consideration. Technicolor will also receive 42.5% of all future cash receipts, net of estimated operating expenses, from InterDigital's new licensing efforts in the consumer electronics field. There is no revenue sharing associated with InterDigital's mobile industry licensing efforts. Via the contemplated transaction, InterDigital will acquire Technicolor's portfolio of more than 21,000 patents and applications across a broad range of technologies, including over 2,500 worldwide video coding patents, which will complement InterDigital's existing portfolio of approximately 19,000 patent assets in wireless, video, and other technologies. As part of this transaction, InterDigital would also grant back to Technicolor a perpetual license for patents acquired in the transaction. "The combination of InterDigital's and Technicolor's licensing businesses in the increasingly complementary areas of mobile technology and video technology will create a world-leading R&D-based licensing enterprise," the company stated. In order to accommodate French labor law, InterDigital has made an irrevocable offer to Technicolor and certain of its subsidiaries to purchase Technicolor's patent licensing business. After completing the required prior consultation with Technicolor's works council, the companies expect to execute a definitive acquisition agreement, the terms of which have been negotiated. The transaction is expected to close in mid-2018, subject to conditions relating to consent of Technicolor's partners, customary closing conditions and regulatory approvals.
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CKH | Hot Stocks13:02 EDT Seacor unit Witt O'Brien's acquires SCA, terms not disclosed - Witt O'Brien's, a wholly owned subsidiary of Seacor Holdings, announced the acquisition of Strategic Crisis Advisors LLC. SCA is a crisis management consulting firm specializing in corporate preparedness. SCA helps its multinational clients prepare for man-made and natural disruptions by developing robust crisis management programs that include innovative planning, training and exercises.
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NWL | Hot Stocks13:02 EDT Icahn says has to decide which way to vote on Newell proxy fight - Carl Icahn is speaking on CNBC.
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NWL | Hot Stocks13:01 EDT Icahn weighed board slate for Newell, didn't want to be 'third horse' in race - Carl Icahn is speaking on CNBC.
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TWTR | Hot Stocks13:01 EDT Twitter steps up effort to increase " collective health" of public conversation - In a blog post the company said, "We're committing to helping increase the collective health, openness, and civility of public conversation around the world, and to hold ourselves publicly accountable toward progress. By measuring our contribution to the overall health of the public conversation, we believe we can more holistically approach and measure our impact on the world for years to come.Twitter's health will be built and measured by how we help encourage more healthy debate, conversations, and critical thinking; conversely, abuse, spam and manipulation will detract from it. We are looking to partner with outside experts to help us identify how we measure the health of Twitter, keep us accountable to share our progress with the world and establish a way forward for the long-term.This approach is inspired by work from others in the industry. Cortico, a non-profit research organization, has spent time to more deeply understand the concept of measuring conversational health and developed four indicators to measure it: shared attention, shared reality, variety of opinion, and receptivity. We believe that we can identify indicators of conversational health that are even more specific to Twitter and its impact." Reference Link
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NWL | Hot Stocks12:59 EDT Icahn says Newell position not 5%, but likely one of the largest holders - Carl Icahn is speaking on CNBC.
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WFC | Hot Stocks12:59 EDT Wells Fargo says board conducting review of 'certain activities' in WIM unit - In a regulatory filing, Wells Fargo said that the company establishes accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. The high end of the range of reasonably possible potential losses in excess of the company's accrual for probable and estimable losses was approximately $2.7B as of December 31, 2017. Wells also said that "Practices related to certain consumer 'add-on' products, including identity theft and debt protection products that were subject to an OCC consent order entered into in June 2015. Based on our ongoing review of add-on products across the company, we expect remediation will be required." Further, Wells Fargo said that "A review of certain activities within Wealth and Investment Management being conducted by the Board, in response to inquiries from federal government agencies, is assessing whether there have been inappropriate referrals or recommendations, including with respect to rollovers for 401(k) plan participants, certain alternative investments, or referrals of brokerage customers to the company's investment and fiduciary services business. The review is in its preliminary stages."
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NWL | Hot Stocks12:58 EDT Icahn says shares of Newell Brands are 'undervalued' - Carl Icahn is speaking on CNBC.
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NWL | Hot Stocks12:58 EDT Icahn confirms he has 'large position' in Newell Brands - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:57 EDT Icahn says bullish on Herbalife, won't talk about potential future trades - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:56 EDT Icahn says FTC helped create 'great barriers of entry' for Herbalife - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:55 EDT Icahn has not sold 'one single share' of Herbalife - Carl Icahn is speaking on CNBC.
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IDCC | Hot Stocks12:55 EDT InterDigital trading halted, news pending
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HLF | Hot Stocks12:53 EDT Icahn says Ackman called him yesterday for congratulations on Herbalife - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:53 EDT Icahn thanks Ackman for alerting him to Herbalife, says he put up 'good fight' - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:52 EDT Icahn says Herbalife is 'great company' with 'great future' - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:50 EDT Icahn thought Ackman would get out of Herbalife short position sooner - Carl Icahn is speaking on CNBC.
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HLF | Hot Stocks12:50 EDT Icahn says Herbalife model brings jobs to many people - Carl Icahn is speaking on CNBC.
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X | Hot Stocks12:41 EDT U.S. Steel CEO applauds tariffs, tells Trump 'past time for fairness'
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X | Hot Stocks12:40 EDT U.S. Steel CEO thanks President for leadership on tariffs - U.S. Steel CEO David Burritt thanks President Trump in front of the press for his leadership on tariffs. "We want a level playing field," Burritt says.
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SHPG | Hot Stocks12:39 EDT Shire not commenting on takeover speculation - Following a media report saying the company had been approached about a potential takeover, a spokesperson for Shire told The Fly: "We do not comment on speculation or rumor." Shares of Shire trading in New York have gained about 3.5% to $132.45.
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SPX SPY | Hot Stocks12:37 EDT Icahn says have to worry about inflation creeping higher - Carl Icahn is speaking on CNBC.
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WAGE | Hot Stocks12:35 EDT Wageworks trading halted, news pending
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SPX SPY | Hot Stocks12:35 EDT Icahn says not much interaction with Trump over past 4-5 months - Carl Icahn is speaking on CNBC.
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NFLX | Hot Stocks12:35 EDT Netflix signs Hasan Minhaj to host weekly talk show - Comedian Hasan Minhaj is set to host his own weekly talk show on Netflix that will debut later this year. Netflix has committed to a 32 episode order, making Minhaj the first Indian-American host of a weekly comedy talk show. Hasan Minhaj said, "I'm thrilled to be joining the Netflix family as the country braces for another election season. And like you, I cannot wait to find out who Putin picks this time." Reference Link
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SPX SPY | Hot Stocks12:34 EDT Icahn 'somewhat concerned' about overall stock market - Carl Icahn is speaking on CNBC.
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SKYAY NFLX | Hot Stocks12:34 EDT Sky, Netflix form new European partnership - Sky (SKYAY) and Netflix (NFLX) announced a new partnership to bundle the full Netflix service into a brand new Sky TV subscription pack. This pioneering partnership, the first of its kind, will give millions of Sky customers seamless access to Netflix through the Sky Q platform. Sky will make available the extensive Netflix service to new and existing customers by creating a brand-new and attractively priced entertainment TV pack, combining Sky and Netflix content side-by-side for the first time. Netflix's service includes over a thousand hours of Ultra HD content, complementing Sky Q's extensive UHD programming. With the Netflix app integrated into Sky Q, and Netflix programmes promoted alongside Sky content, customers can enjoy shows such as Britannia, Billions and Big Little Lies alongside The Crown, Stranger Things and Black Mirror, as well as free-to-air TV, all on the Sky platform. At the same time, customers will enjoy the simplicity of one monthly bill and easy to use, integrated user interface. As part of the new partnership, Sky customers will be able to seamlessly access Netflix content in the Sky Q menu, plus quickly find their favourite Netflix programmes including the use of Sky Q's search and voice search functionality. Existing Netflix customers will be able to easily migrate their account to the new Sky TV bundle, or sign into the Netflix app using their existing account details, to enjoy Netflix with even greater convenience.
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ADMS | Hot Stocks12:27 EDT Adamas COO buys 10,000 shares at price of $25.07 - Adamas Pharmaceuticals COO Richard King disclosed the purchase of 10,000 shares at a price of $25.07. King now owns 39,661 shares of Adamas.
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LMT | Hot Stocks12:06 EDT Lockheed Martin receives $150M contract by U.S. Navy - The U.S. Navy awarded Lockheed Martin a $150M contract, with options worth up to $942.8M, for the development, manufacture and delivery of two high power laser weapon systems, including intelligence, surveillance and reconnaissance and counter-Unmanned Aerial System capabilities, by fiscal year 2020. With the High Energy Laser and Integrated Optical-dazzler with Surveillance system, Lockheed Martin will help the Navy take a major step forward in its goal to field laser weapon systems aboard surface ships.
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CODI | Hot Stocks12:06 EDT Compass Diversified subsidiary forms, acquires Rimports - Effective immediately, a new entity has been formed called The Sterno Group, which is a subsidiary of Compass Diversified Holdings (CODI). Don Hinshaw is CEO of The Sterno Group with three company presidents reporting to him. The three companies are Sterno Products led by recently promoted President Craig Carnes, Sterno Home led by President Michael Pacharis, and recently acquired Rimports, Inc. led by President Alan Farrell. Don Hinshaw commented, "This new structure will continue a successful corporate culture across multiple companies while also allowing the individual presidents of these stand alone companies to lead them to their full growth potential and focused on their specific customer base." In addition to the new structure, The Sterno Group has completed its acquisition of Rimports. Rimports is a manufacturer and distributor of branded and private label scented wickless candle products used for home decor and fragrance.
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MO | Hot Stocks12:01 EDT Altria increases quarterly dividend by 6.1% to 70c per share - Altria Group announced that its Board of Directors voted to increase Altria's regular quarterly dividend by 6.1% to 70c per common share versus the previous rate of 66c per common share. The quarterly dividend is payable on April 10, 2018, to shareholders of record as of March 15, 2018. The ex-dividend date is March 14, 2018. The new annualized dividend rate is $2.80 per common share, representing a yield of 4.3% based on Altria's closing stock price of $64.59 on February 23, 2018.
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RIOT | Hot Stocks11:53 EDT Riot Blockchain director posts picture of bitcoin mining operations - Jason Les, a director on Riot Blockchain's board, tweeted "A look at Riot Blockchain's bitcoin mining operation in North America. Still a work in progress- but great work being done!" along with a pair of photos. Reference Link
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CUB | Hot Stocks11:40 EDT Cubic teams with Thales to bid on on UK defense contracts - Cubicannounced that its Cubic Global Defense,CGD, business division will be teaming with Thales in the UK to bid for the Training and Simulation Systems Programme,TSSP,Joint Fires Synthetic Training project. JFST looks to improve training capabilities delivered to the British Army by providing an immersive Joint Firessolution to train JF integrators in both mounted and dismounted roles - across land, littoral and air domains at the individual and collective levels.
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HMC | Hot Stocks11:22 EDT Honda reports February U.S. sales down 5% to 115,557 vehicles - American Honda Motor reported February sales of 115,557 Honda and Acura vehicles, a decrease of 5% versus February 2017. Honda Division sales were down 5.6% on sales of 104,588, with Honda cars down 6.9% on sales of 50,646, and trucks down 4.4% on sales of 53,942 vehicles. Total Acura Division sales gained 1% in February with 10,969 units sold. Acura cars gained 17.4% on sales of 3,866, while trucks decreased 6.2% on sales of 7,103 vehicles for the month.
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WSM | Hot Stocks11:21 EDT Inscape says West Elm advises of intent to terminate partnership - Inscape Corporation has been advised orally today that West Elm, a brand of Williams-Sonoma, Inc., intends to terminate their partnership effective June 29. The two companies entered into an agreement in 2014 to create the West Elm Workspace with Inscape collection. The company has not received a formal notice of termination.
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MDCO | Hot Stocks11:19 EDT The Medicines Co. to restructure board, cut size to seven members - The Medicines Company stated in a regulatory filing earlier: "As a result of the rapid and significant evolution our business and the narrowing of our operational focus onto inclisiran, our board of directors determined to restructure the board, adding directors with relevant expertise and experience and reducing the board's overall size from twelve to seven members, providing a more agile and efficient structure. Accordingly, the board of directors has determined that the slate of directors to be nominated for election as directors at the 2018 annual meeting of shareholders will consist of: Alexander J. Denner, Fredric N. Eshelman, Geno J. Germano, John C. Kelly, Clive A. Meanwell, Paris Panayiotopoulos, and Sarah J. Schlesinger."
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OSTK... | Hot Stocks10:57 EDT Crypto-related stocks fall amid SEC probe into ICOs - Shares of cryptocurrency-linked companies are falling after a report of a widespread Securities and Exchange Commission probe into initial coin offerings. SEC PROBE: The SEC has issued dozens of subpoenas and information requests to technology companies and advisors linked to the cryptocurrency market, the Wall Street Journal reported Thursday. The regulator is seeking information about the structure for sales and pre-sales of initial coin offerings after previous warnings suggesting the sales may be in violation of securities law. The SEC scrutiny is focused in part on "simple agreements for future tokens," or SAFTs, which enable big investors to purchase rights to tokens prior to their sale and trade them, or flip them for profits, even before the sale starts. SEC chairman Jay Clayton has previously said, "Many promoters of ICOs and cryptocurrencies are not complying with our securities laws" and has instructed staff to be "on high alert for approaches to ICOs that may be contrary to the spirit" of those laws. According to research firm Token Report, coin offerings have already raised roughly $1.66B this year and are on track to top 2017's $6.5B tally. OVERSTOCK DISCLOSES SEC INVESTIGATION: In a regulatory filing, Overstock.com (OSTK) said that in February, the Division of Enforcement of the SEC informed the company that it is conducting an investigation in the matter Re: Overstock.com, Inc. -- NY-9777 -- and requested that the company voluntarily provide certain documents related to the offering and the Tokens in connection with its investigation. The company is in the process of responding to this document request and will cooperate with the SEC in connection with its investigation. "While the SEC is trying to determine whether there have been any violations of the federal securities laws, the investigation does not mean that the SEC has concluded that anyone has violated the law. Also, the investigation does not mean that the SEC has a negative opinion of any person, entity, or security," the company stated. SEC SUSPENSIONS: The SEC announced February 16 it has suspended trading in three companies amid questions surrounding statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC's trading suspension orders state that recent press releases issued by Cherubim Interests (CHIT), PDX Partners (PDXP), and Victura Construction Group (VICT) claimed that CHIT, PDXP, and VICT acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology among other things. CRYPTO 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 , Digital Power (DPW), Long Blockchain (LBCC), Kodak (KODK), 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: Overstock fell 6% to $56.77, Riot Blockchain dropped 3.8% to $10.18, Pareteum was down 3.5% to $2.20 and Social Reality was down 4.2% to $4.10 in morning trading.
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TM | Hot Stocks10:47 EDT Toyota reports February U.S. sales up 4.5% to 182,195 vehicles - Toyota Motor North America reported February sales of 182,195 vehicles, an increase of 4.5% from February 2017 on a volume basis. With the same amount of selling days in February 2018 compared to February 2017, sales were up 4.5% on a daily selling rate, or DSR, basis. Toyota division posted February sales of 162,930 units, up 4.4% on a volume and DSR basis. Lexus posted February sales of 19,265 vehicles, up 5.1% on a volume basis and DSR basis.
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HMC | Hot Stocks10:47 EDT Honda's U.S. sales fell 5% in February, Bloomberg says
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WAGE | Hot Stocks10:43 EDT WageWorks slides as JMP raises questions ahead of filing deadline - Shares of WageWorks are sliding in early trading on March 1, the sixtieth day after the end of the company's fiscal year and the deadline for the company to file its 2017 annual report on Form 10K as required by the SEC. In a note to investors this morning, JMP Securities analyst highlighted the deadline in a note entitled "The Clock Has Struck Midnight And Still No 4Q Report." DELAYED FILING?: JMP Securities analyst David Scharf said that while many companies may wait until the deadline filing, WageWorks' silence on the matter has left him to speculate about what appears now to be a meaningful probability that the company may have to file a Form NT 10-K, which is required when an issuer cannot file on time. Noting that delayed filings are often related to either accounting or disclosure issues, he questions if WageWorks' calculation and disclosure of its organic growth metric is causing a delay. The company's definition of organic growth has always been "liberal", contends Scharf, who wonders if the company may be readdressing implied comments it has received in the past from the SEC regarding the metric. PRICE ACTION: In morning trading, WageWorks shares have fallen $7.45, or about 14%, to $45.00.
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AA... | Hot Stocks10:39 EDT Metal producers off highs with no tariff announcement coming today - Shares of Alcoa (AA), AK Steel (AKS) and Century Aluminum (CENX) moved lower after CNBC reported that the White House will not be announcing a decision on tariffs today. The stocks rallied earlier in the trading session following reports that President Trump will announce steep tariffs on steel and aluminum imports.
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NSANY | Hot Stocks10:37 EDT Nissan reports February U.S. sales down 4.3% to 129,930 vehicles - Nissan Group announced total U.S. sales for February 2018 of 129,930 units, a decrease of 4.3% compared to the previous year. Combined sales of Nissan crossovers, trucks and SUVs set a February record, up 9%. Nissan Rogue sales continued to be strong with 38,119 sales, up 15%, and set a February record. Frontier truck sales rose to 7,992 units, up 69%.
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VLKAY | Hot Stocks10:34 EDT Volkswagen reports February U.S. sales up 6% to 26,660 units - Volkswagen of America reported sales of 26,660 units delivered in February 2018, an increase of 6% over February 2017. With 51,404 units delivered year-to-date in 2018, the company is reporting an increase of 5.6% in year-over-year sales.
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EBIX | Hot Stocks10:33 EDT Ebix in advance stages of review on 'several acquisition opportunities' - Ebix said in its Q4 earnings release, "We are in advance stages of review on several acquisition opportunities that have the potential to make material contributions to our 2018 results if we are able to complete these transactions on the contemplated terms. Also, we have executed a number of large new business contracts that are expected to start contributing to our top line in 2018. As a result of our strong business development activity and pipeline, combined with expected organic growth across the business, we believe Ebix is well positioned for another solid year in 2018."
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AMCX | Hot Stocks10:32 EDT AMC Networks sees FY18 company revenue, adjusted op. income up in LSD - Expects distribution revenues to be main contributor to growth in 2018. Sees subscription revenue rate growth in mid single digits in 2018. Sees Q1 National Networks advertising revenue down at a similar rate to Q4, but says comps to turn more favorable moving to the middle of the year.
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AGN... | Hot Stocks10:25 EDT Allergan slides after Mylan, Revance report deal for Botox biosimilar - Shares of Allergan (AGN) are under pressure this morning after Mylan (MYL) and Revance Therapeutics (RVNC) announced an agreement for the development and commercialization of a proposed biosimilar to Botox. Meanwhile, the Food and Drug Administration extended the PDUFA date for Allergan's uterine fibroid candidate, ulipristal acetate, with Credit Suisse analyst Vamil Divan arguing it may raise concerns over a potential regulatory rejection. BOTOX BIOSIMILAR: Last night, Mylan and Revance Therapeutics announced a global collaboration and license agreement for the development and commercialization of a proposed biosimilar to Botox. The companies plan to work together to gain regulatory approval in the development of this biosimilar product and commercialize it in the U.S., Europe and applicable markets throughout the rest of the world. The collaboration includes an upfront payment of $25M to Revance, with contingent milestone payments upon achievement of additional clinical, regulatory and sales targets, plus sales royalties in all relevant markets. ALLERGAN NDA REVIEW EXTENDED: Meanwhile, Allergan said it was notified by the FDA that the review of the New Drug Application for ulipristal acetate will be extended. The PDUFA target action date has been extended to August 2018 to provide time for a full review of the file. Ulipristal acetate is an investigational drug in the U.S. for the medical treatment of abnormal uterine bleeding in women with uterine fibroids. In Europe, ulipristal acetate is marketed under the trade name Esmya by Gedeon Richter. In Canada, ulipristal acetate is available under the trade name Fibristal and marketed by Allergan. CREDIBLE LONGER-TERM THREAT: In a research note to investors, Morgan Stanley analyst David Risinger lowered his price target on Allergan to $181 from $200 following the news that Mylan and Revance plan to develop a biosimilar Botox. While the analyst assumes commercialization is several years away, he argued that the risk creates a long-term overhang on the durability of Allergan's most important franchise. Risinger reiterated an Overweight rating on Allergan shares. Also commenting on the Mylan and Revance agreement, Credit Suisse's Divan told investors he sees the collaboration as a credible longer-term biosimilar Botox threat, and believes it creates another legitimate overhang to add to prior concerns around risks to Allergan's flagship Botox franchise. Additionally, Divan said that the extension of the Esmya review is not surprising in light of some of the liver safety questions that have been raised in the EU, but the news does raise the specter of possible regulatory rejection. He reiterated an Outperform rating and $215 price target on Allergan's shares. Meanwhile, Wells Fargo analyst David Maris told investors in a research note of his own that the announced collaboration between Revance and Mylan is "clearly bad headlines news" for Allergan. The analyst noted, however, that this seems an "odd move" by Revance, which is also developing what it hopes to be a long-acting Botox-like product. For Allergan, it is unwanted noise around another key franchise, he contended, adding that while the news is more of a corporate rivalry and less a near-term commercial threat, it is likely to be another overhang for the shares. PRICE ACTION: In morning trading, shares of Allergan have dropped about 3% to $149.92. Meanwhile, Mylan's stock has gained 5% to $42.35 and Revance has slipped about 3% to $30 per share.
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F | Hot Stocks10:23 EDT Ford sees total February industry SAAR in high 16M vehicle range - Sees total February industry sales of down approximately 6% vs. last year to 960,000-970,000 units, translating to a SAAR in the high 16M vehicle range. Ford says fleet sales were off 31% in February. The company noted that January and February are the smallest volume months of the year, and it maintained guidance for the year in the low 17M vehicle range including medium and heavy trucks. In February, overall incentive spend for the industry was down $65 year-over-year and was down $50 sequentially to January. Comments taken from Ford's February U.S. sales conference call. Ford is down about 0.8% in morning trading to $10.52.
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SQM... | Hot Stocks10:19 EDT SQM sees 'very strong' lithium market demand in coming years - SQM (SQM) said in its Q4 earnings release, "We truly believe in the lithium market as the demand growth, mainly driven by the development of the electric vehicles (EVs), should remain very strong in the coming years. The market will need more efficient projects to come on line to maintain the market equilibrium and support the development of the EVs and battery industries. Being one of the largest lithium producers in the world, we feel the responsibility to grow together with our customers and the market. Along with new expansions in Chile, we will continue development of our projects abroad. In Argentina, we expect the first stage of the Minera Exar project of 25,000 MT/year to be ready by 2020, the construction of the evaporations ponds has begun, and the filling of the evaporation ponds will begin in the second half of the year. In the meantime, we continue working on the detailed engineering of the chemical plant. In Australia, we completed the purchase of the Mt. Holland project in December 2017 and are working on further exploration of the resource, development of the feasibility study and required environmental permits, all of this with the goal of starting production in 2021." Companies with exposure to lithium include Albemarle (ALB) and FMC Corporation (FMC).
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SHPG | Hot Stocks10:17 EDT Shire up 6% after web report on rumored takeover approach - Shares of Shire trading in New York are up $7.65, or 5.98%, to $135.65 after "a person claiming to have knowledge of the matter" reportedly told Street Insider that the company was approached about a potential takeover. The bidder's identity wasn't disclosed, according to the web report.
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SQM... | Hot Stocks10:17 EDT SQM continues to see tight lithium market driven by 'strong demand' - SQM (SQM) said overnight in its Q4 earnings release, "We achieved the same sales volumes in our lithium and derivatives business line in 2017 as in the previous year, while the prices increased 25% with an average price reaching over US$13,500 per metric ton in the fourth quarter. On these days, we continue to see a tight market, mainly driven by a strong demand that is still growing over 15% per year, more than offsetting the new supply that came into the market during the second half of last year. For the remainder of this year, we expect that the strong demand growth will continue, while at the same time, new projects are expected to increase their output during the second half of the year." On the company's agreement with CORFO, SQM said, "We are pleased that we have reached an agreement with CORFO that will let us continue developing a successful story in the Salar de Atacama. The new production allowance granted in the agreement gives us flexibility to increase our operation capacity as the market continues growing, allowing us to keep a market share around 25% during the next few years." It added, "Approximately a year ago, we announced a capacity expansion from 48,000 to 63,000 MT of lithium carbonate in Chile, to be finished in 2018. This expansion project is being revised to reach a total production capacity of 70,000 MT this year. On top of this, we are working on a project to increase our plant capacity by another 30,000 MT in 2019, reaching 100,000 MT of total capacity in Chile. The total budget for both stages will be approximately US$170 million. We will evaluate the timing for future expansions in the Salar de Atacama based on market conditions." Names with exposure to lithium include Albemarle and FMC Corporation (FMC).
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NSANY | Hot Stocks10:17 EDT Nissan's U.S. sales fell 4.3% in February, Bloomberg says
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AMCX RLJE | Hot Stocks10:14 EDT AMC Networks 'enthusiastic' about RLJ Entertainment offer - AMC Networks said on its Q4 earnings conference call that on February 28, it entered into a multi-year distribution agreement with fuboTV, a streaming subscription service for live sports and entertainment. AMC said the fuboTV deal includes AMC Premiere, its premium television viewing option. Says "enthusiastic" about prospects for RLJ Entertainment (RLJE) offer.
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BAESY LMT | Hot Stocks10:08 EDT Lockheed Martin awarded contract by BAE Systems to supply VLS - BAE Systems (BAESY) awarded Lockheed Martin (LMT) a contract to equip the Royal Navy's new Type 26 Global Combat Ship with the MK 41 Vertical Launching System.
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UPS | Hot Stocks10:06 EDT UPS rises 2% in early trading - UPS shares were up $2.04, or 1.95%, to $106.43 in early trading. Some traders attributed the early strength to speculation of a prominent investor taking a stake in the shipper, according to contacts.
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ANDE | Hot Stocks10:03 EDT Andersons says CFO John Granato leaves company to pursue other interests - In a regulatory filing, The Andersons announced that John Granato, CFO, has left the company to pursue other interests. Effective today, Anne Rex, Vice President & Corporate Controller, will serve as Interim CFO. A search for a permanent replacement is underway. "John has made significant contributions to The Andersons during his tenure as CFO, and we wish him well in all his future endeavors," the company said.
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BUD | Hot Stocks09:49 EDT AB InBev says doesn't expect material change from 3.7% coupon in 2018
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CSX | Hot Stocks09:48 EDT CSX targets total workforce of 21,000 by 2020 - CEO Jim Foote says CSX will continue former CEO Hunter Harrison's work. Says transforming company from traditional railroad operating model to the scheduled railroad operating model to improve efficiency, cut costs and improve service quality. Says looking to drive efficiency, leverage reduced cost base and capture growth opportunities. Says confident in achieving 60% operating ratio. CAO Mark Wallace says company is changing culture, improving accountability. Says used Hunter Camps to identify new talent and make operational changes driving significant operational improvement. Says reduced workforce by 14% in 2017. Targets 21,000 total workforce by 2020 to be achieved principally through attrition. Says executive long-term compensation now aligned with shareholder returns. Says investing in core infrastructure and focusing on technology. Says freeing up pump yards and taking aggressive approach to monetizing surplus real estate. Sees opportunity for $300M in real estate sales and $500M in line sales in next three years. Comments taken from 2018 Investor & Analyst Conference.
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F | Hot Stocks09:47 EDT Ford reports February U.S. sales down 6.9% to 194,132 vehicles - Overall Ford Motor Company U.S. sales for February totaled 194,132 vehicles, a 6.9% decline compared to the same month of last year. Fleet performance is down 3.8% on sales of 71,059 vehicles. Retail sales totaled 123,073 vehicles last month, a decline of 8.5%. "Ford's overall transaction prices compare favorably against the industry, $36,200 versus $32,200. With the highest transaction pricing of any full-line automaker, Ford posted an increase of $2,100, with incentive spend down $80 compared to a year ago," the company stated.
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F | Hot Stocks09:45 EDT Ford reports February U.S. sales down 6.9% to 194,132 vehicles
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GM | Hot Stocks09:38 EDT General Motors reports February U.S. sales down 6.9% to 220,905 units - General Motors sales were down 6.9% in total and 10% on a retail basis compared to "an exceptionally strong" February 2017, the company reported. Last year, GM had record sales of crossovers, large SUVs and pickups, GM noted. The light vehicle SAAR last year was 17.5M units, compared with about 17.1M today. GM's incentive spending as a percentage of ATP was 13.2%, down 1.7 percentage points. Incentive spending for GM was down more than $500 per vehicle, while the industry average was down $64. About half of major automakers increased spending, GM said.
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BUD | Hot Stocks09:36 EDT AB InBev says expects dividend growth 'to be modest' in short term - Says optimal capital structure is net debt/EBITDA ratio approximately 2x.
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BUD | Hot Stocks09:31 EDT AB InBev says sees FY18 tax rate 24%-26%
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CTL | Hot Stocks09:31 EDT CenturyLink awarded managed services contract by Texas DIR - CenturyLink announced it was awarded a managed services contract with the State of Texas Department of Information Resources. State and local government, public education and other public entities in Texas can continue to procure CenturyLink's comprehensive managed services through this new contract, the second contract the DIR has awarded to CenturyLink since 2013.
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GM | Hot Stocks09:30 EDT General Motors reports February U.S. sales down 6.9% to 220,905 units
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BUD | Hot Stocks09:28 EDT AB InBev says delivered $381M in synergies in Q4 - Comments from Q4 earnings conference call.
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KR | Hot Stocks09:25 EDT Kroger to stop selling guns to buyers under 21 at Fred Meyer, company tells CNBC - Kroger will no longer sell guns to buyers under 21 at its Fred Meyer stores, the company told CNBC. In a statement, the company said "Kroger's vision is to serve America through food inspiration and uplift. In response to the tragic events in Parkland and elsewhere, we've taken a hard look at our policies and procedures for firearm sales. We follow all state and local laws regulating the sales of sporting-related firearms at our select general-merchandise Fred Meyer stores. Recent events demonstrate the need for additional action on the part of responsible gun retailers. We are raising the minimum age to 21 to purchase firearms and ammunition in all of our Fred Meyer locations that sell firearms. We stopped selling assault-style rifles in our Oregon, Washington and Idaho Fred Meyer stores several years ago and we will no longer accept any special-orders of these weapons in Alaska. Through Restock Kroger, we have a robust space optimization effort underway in many of our stores, including Fred Meyer locations. As we refresh stores we are often transitioning gun departments due to softer demand and changing customer preferences. We believe these are common sense steps we can take immediately that are in line with our values and our vision." Reference Link
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KSS AMZN | Hot Stocks09:22 EDT Kohl's CEO says 'really optimistic' about Amazon partnership
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DCIX | Hot Stocks09:19 EDT Diana Containerships announces sale of two Panamax container vessels - Diana Containerships announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to sell to an unaffiliated third party the m/v Sagitta and the m/v Centaurus, each a 2010 built containership for $12.3M each. The Company expects the Vessels to be delivered to the buyer at the latest by April 27, 2018.
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YEXT | Hot Stocks09:15 EDT Yext launches new preferred partner program - Yext is launching the Yext Preferred Partner Program, a new program created to partner with digital marketing agencies and other service providers whose offerings complement the Yext Knowledge Engine. The Preferred Partner Program makes it easy for agencies to offer Yext's Digital Knowledge Management technology as part of a holistic marketing solution for their clients.
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KSS | Hot Stocks09:13 EDT Kohl's says to test bringing Aldi into 5-10 stores in 2018
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TRP | Hot Stocks09:13 EDT TransCanada announces open season for 2021 NGTL system export capacity - TransCanada Corporation announced that it has launched a new Open Season on its NOVA Gas Transmission System for binding expansion capacity commitments at the Empress/McNeill Export Delivery Point. The Open Season is for an estimated 280 million cubic feet per day of firm service, commencing in November 2021. This capacity offering follows a successful Open Season that was completed in January 2018 for 1.0 Bcf/d of expansion capacity at the same delivery point, with service commencing between November 2020 and April 2021, and underpinning a recently announced $2.4 billion NGTL System expansion. This earlier Open Season was oversubscribed and industry has expressed strong interest for additional market access. This new Open Season will begin on March 1, 2018, and close on March 15, 2018.
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KSS | Hot Stocks09:13 EDT Kohl's CEO says doesn't view January comps as 'slowdown' from Nov./Dec. - CEO Kevin Mansell noted that comps were up 6.9% in November/December, up low 2% in January, but doesn't view this as a slowdown. He noted that February comps were "positive."
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INSY | Hot Stocks09:12 EDT Insys Therapeutics announces completion of founder's independent trust - INSYS Therapeutics announced that company founder John N. Kapoor, Ph.D., has completed the previously announced formation of an independently controlled trust related to his ownership stake in the company. The trust has been publicly filed with the Securities and Exchange Commission by the company on a Current Report on Form 8-K.
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OSTK | Hot Stocks09:08 EDT Overstock.com received a letter from FINRA regarding potential trading activity - Overstock.com disclosed this morning that in December 2017, SpeedRoute received a letter from FINRA stating that the Department of Enforcement at the agency received a referral from the staff of FINRA's Department of Market Regulation relating to rules applicable to supervision and required supervisory procedures for review of certain potential trading activity, such as pre-arranged trades or wash trades. In an unrelated matter, each of SpeedRoute and PRO Securities have been named in a FINRA investigatory matter in which FINRA has conducted on the record interviews of two senior officers of tZERO, Overstock.com stated. It added, "At this time, the Company is not aware of any proceedings against it which are expected to have a material adverse effect on its financial position, operations or ability to consummate the development and production of the Tokens." Shares of Overstock.com are down 6%, or $3.90, to $56.50 in premarket trading after the company disclosed an SEC investigation into its cryptocurrency token sale.
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ALK | Hot Stocks09:08 EDT Alaska Air and Fiji Airways expand partnership with codeshare agreement - Alaska Airlines and Fiji Airways, Fiji's National Airline, have expanded their current partnership by signing a codeshare agreement on flights from San Francisco to two popular US cities. The codeshare agreement enables Fiji Airways to place its "FJ" code on Alaska Airlines' flights from SFO to Seattle and Portland, offering Fiji Airways guests seamless connections to these cities via San Francisco, and vice-versa for Alaska Airlines' guests. The codeshare flights will be available for sale from March 5th. Both airlines have an existing frequent flyer partnership. .
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EXC | Hot Stocks09:06 EDT Exelon sells W.A. Chester to Bernhard Capital - Exelon has sold W.A. Chester to a group of investors led by Bernhard Capital Partners Management, a services-focused private equity management firm. Terms of the transaction were not disclosed. W.A. Chester became part of Exelon through the merger of Pepco Holdings and Exelon Corporation in March 2016.
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KSS AMZN | Hot Stocks09:06 EDT Kohl's CEO says too early to give update on Amazon partnership pilot - Kohl's (KSS) CEO Kevin Mansell says the company has held preliminary talks about expanding its partnership with Amazon (AMZN).
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KTOS | Hot Stocks09:05 EDT Kratos Defense receives $24.3M unmanned aerial drone system contract award - Kratos Defense & Security Solutions announced that its Unmanned Systems Division has been awarded a $24.3M contract for modification to a previously awarded firm-fixed-price, cost-plus-fixed-fee contract to exercise an option for the low rate initial production of the Subsonic Aerial Target BQM-177A and technical data. This option provides for the procurement of multiple BQM-177A targets, associated radar altimeters, technical manuals, training material/equipment, and contractor logistics support services. Work will be performed in Sacramento, California, and is expected to be completed by March 2020. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.
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KSS | Hot Stocks09:04 EDT Kohl's CEO says 'definitely not one thing' driving improvement in business - CEO says expects to exceed $250M of expense savings over the next three years.
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XOM | Hot Stocks09:04 EDT Exxon Mobil to join Stanford Strategic Energy Alliance - Exxon Mobil Corporation announced that it will become the first founding member of the new Stanford Strategic Energy Alliance, an initiative that will examine ways to improve energy access, security and technology while reducing impacts on the environment. As part of its commitment, ExxonMobil will contribute $20M in funding over five years to research and develop lower-carbon energy solutions.
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EFX | Hot Stocks09:04 EDT Equifax says 2.4M names, partial driver's license information stolen last year - As a result of ongoing analysis of data stolen in last year's cybersecurity incident, Equifax announced that the company has confirmed the identities of U.S. consumers whose partial driver's license information was taken. Equifax was able to identify these consumers by referencing other information in proprietary company records that the attackers did not steal, and by engaging the resources of an external data provider. Through these additional efforts, Equifax was able to identify approximately 2.4M U.S. consumers whose names and partial driver's license information were stolen, but who were not in the previously identified affected population discussed in the company's prior disclosures about the incident. This information was partial because, in the vast majority of cases, it did not include consumers' home addresses, or their respective driver's license states, dates of issuance, or expiration dates. The methodology used in the company's forensic examination of last year's cybersecurity incident leveraged Social Security Numbers and names as the key data elements to identify who was affected by the cyberattack. This was in part because forensics experts had determined that the attackers were predominately focused on stealing SSNs. Today's newly identified consumers were not previously informed because their SSNs were not stolen together with their partial driver's license information. Equifax will notify these newly identified U.S. consumers directly, and will offer identity theft protection and credit file monitoring services at no cost to them. Information about registering for these services will be included in the notification.Importantly, the company's forensics experts have found no evidence that Equifax's core consumer, employment and income, or commercial credit reporting databases were accessed as part of the cyberattack, and the company believes it will have met all applicable requirements to notify consumers. Since announcing this incident, Equifax has taken steps to communicate with and assist consumers and customers. Among other things, the company has established a web portal advising U.S. consumers to review their account statements and credit reports, identify any unauthorized activity, and protect their personal information from further attack. Additionally, the company offered free identity theft protection and credit file monitoring services to all U.S. consumers regardless of whether or not they were impacted.
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WMT | Hot Stocks09:04 EDT Walmart, BuzzFeed debut Tasty cookware line - Walmart and BuzzFeed's Tasty unveiled an exclusive new line of kitchen products that will "bring the fun, ease and accessibility of Tasty's signature recipe videos to Walmart and consumers nationwide." The Tasty-branded cookware line includes more than 90 products ranging from non-stick cookware to high-quality bakeware to kitchen gadgets, accessories and more, ranging in price from $4.44 to $99.00. Tasty cookware is available now at Walmart and Walmart.com.
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PAYX | Hot Stocks09:03 EDT Paychex acquires SaaS payroll and HR provider Lessor Group - Paychex acquired Lessor Group, a provider of payroll and human capital management software solutions headquartered in Denmark and serving clients in Northern Europe. Lessor provides services under two models - a SaaS and on-premise suite through its Lessor platform and Microsoft Dynamics; and a do-it-yourself, cloud-based platform in Denmark and Germany, Norway and Sweden. Lessor has approximately 140 employees. All Lessor employees will continue their employment with the Lessor Group, now as part of the Paychex organization. Following the acquisition, Lessor Group CEO Peter Colsted becomes managing director of Paychex's European operations. Terms of the acquisition were not disclosed.
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MRLN | Hot Stocks09:03 EDT Marlin Business, Kaeser Compressors partner for new financing program - Marlin Business Services and Kaeser Compressors announced a partnership to provide financing options for Kaeser Compressor North American customers. Marlin's financing options will be available through its authorized distributor channel and direct sales team. The new strategic alliance will enable customers to acquire air compressor solutions equipment that are financed through Marlin's fast, convenient approval process. Customers will also benefit from Marlin's extensive vendor finance and industry experience.
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HMST | Hot Stocks09:03 EDT HomeStreet: Notice of director nominations from Blue Lion 'invalid' - HomeStreet disclosed that Blue Lion Opportunity Master Fund, L.P.'s notice of proposals and nominations for the Company's 2018 Annual Meeting of Shareholders is invalid. "HomeStreet's bylaws are for the protection of the Company and all of its shareholders. Following close review by HomeStreet and its legal advisors, the Company found that Blue Lion's notice contained at least 32 instances of failures to satisfy the requirements set forth in the bylaws. Blue Lion delivered its notice to the Company in the afternoon on February 23, 2018, which is the day before the deadline for such notices. The nomination deadline had been publicly disclosed for ten months, since it was disclosed in last year's proxy statement, which was filed with the SEC on April 24, 2017. Because Blue Lion failed to deliver a notice in accordance with the bylaw requirements prior to the deadline for all HomeStreet shareholders, Blue Lion no longer has the right to bring any proposals for consideration or nominate any candidates for election to the Board at the upcoming meeting. The Human Resources and Corporate Governance Committee of the Board evaluates board composition on an ongoing basis to ensure it has the optimal mix of experience, expertise, and perspectives to represent the best interests of all HomeStreet shareholders. On January 25, 2018, HomeStreet appointed Mark R. Patterson to the Board. Mr. Patterson brings his perspective as a sophisticated institutional investor with extensive operational experience in the financial services sector, as well as knowledge of HomeStreet as a long-term shareholder. The Company also previously announced that the HRCG Committee of the Board has initiated a public search for an additional qualified candidate for the Board who meets the stated diversity goals of the Company set out in the Company's Principles of Corporate Governance."
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RLH | Hot Stocks09:02 EDT Red Lion Hotels signs franchise agreements with 10 Inner Circle hotels - RLH Corporation announced 10 new franchise license agreements with hotels owned by affiliates of Inner Circle Investments and managed by Inner Circle Management. The 20-year term franchise agreements include one Hotel RL and nine Red Lion Hotels, totaling 2,584 rooms bringing the company's mid and upscale brands to over 100 hotels.
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FCAU | Hot Stocks09:02 EDT Fiat Chrysler reports February U.S. sales down 1.4% to 165,903 vehicles - FCA US reported sales of 165,903 vehicles in February, a 1.4% decrease compared with sales in February 2017 of 168,326 vehicles. The Jeep brand reported the best ever February retail sales of 61,122 vehicles, the company noted. Fleet sales for the month fell by 3% compared with February 2017. Fleet accounted for 26% of total sales.
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KSS | Hot Stocks09:01 EDT Kohl's raises quarterly dividend 11% to 61c per share - On February 28, 2018, Kohl's Board of Directors declared a quarterly cash dividend on the company's common stock of 61c per share, an 11% increase over its prior dividend. The dividend is payable March 28, 2018 to shareholders of record at the close of business on March 14, 2018.
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MMM | Hot Stocks09:01 EDT 3M awarded additional $34M by U.S. ARmy for 'helmets of the future' - The U.S. Army has awarded Ceradyne, Inc., a 3M company, an additional $34M to continue supplying its ballistic helmet of the future. The Integrated Head Protection System uses advanced materials, an ultramodern design and add-on accessories to give soldiers greater comfort and advanced protection for modern missions. This brings Ceradyne's total IHPS contract value to more than $52M.
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KSS | Hot Stocks08:56 EDT Kohl's to pilot Kohl's Rewards platform to 100 stores beginning in late May - CEO Kevin Mansell said he sees an opportunity to bring key loyalty assets into one "simpler, easier to understand" platform called Kohl's Rewards. Beginning in late May, Kohl's will pilot the new platform in 100 stores across eight markets. Expects that, following the pilot, "some version" of the new platform will roll out to all stores in 2019.
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COGT | Hot Stocks08:51 EDT Cogint announces Red Violet spinoff update, to trade on NASDAQ - Cogint announced an update regarding its pending spin-off of its wholly-owned data and analytics subsidiary, Red Violet, through a dividend to shareholders. The company is providing the following additional and more recent information regarding the spin-off: Strong current cash position of approximately $30M as of January 31 of which Red Violet expects to have approximately $20M in cash and no debt at spin-off. No additional capital is needed to complete the spin-off. Upon the spin-off, Fluent is expected to be immediately profitable, generating in excess of $1M per month in positive cash flow. Negotiated with lenders to refinance existing debt balance with a goal to meaningfully reduce future interest expense and debt-related costs. Cogint expects to close the refinancing at or around the time of the spin-off. On February 28 Red Violet filed its Registration Statement on Form 10 with the SEC relating to the spin-off, initiating the SEC's review period. The company plans to announce a dividend record date upon the SEC's clearance of the Form 10. The dividend is expected to be one share of Red Violet common stock for every four to five shares of Cogint common stock to shareholders as of a record date. The company expects to announce the record date for the spin-off dividend to shareholders in the coming weeks. Following the spin-off, the common stock of Red Violet is expected to trade immediately on the NASDAQ
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SENS | Hot Stocks08:47 EDT Senseonics: FDA advisory panel to review PAA for Eversense on March 29 - Senseonics Holdings announced the U.S. Food and Drug Administration Clinical Chemistry and Clinical Toxicology Devices Panel is scheduled to review the premarket approval application for Eversense on Thursday, March 29, 2018. The Eversense PMA application contains data from Senseonics' U.S. PRECISE II study. The study, considered one of the largest studies of a CGM system in the world, includes over 2 million sensor glucose readings, from 90 patients at eight clinical centers during the full 90-day study duration.
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ATI | Hot Stocks08:46 EDT Allegheny Technologies forms stainless steel sheet joint venture with Tsinghan - Allegheny Technologies stated that it formed its previously announced 50-50 joint venture, or JV, with an affiliate company of Tsingshan Group to produce 60-inch wide stainless sheet products for sale in North America. Initial customer shipments are expected in the first half of 2018. The JV will be treated as a 50-50 equity investment with the partners sharing JV operating profit and cash flows. JV sales will not be consolidated into ATI's sales. ATI's FRP segment will benefit from the conversion services provided by ATI's HRPF to the JV, increased utilization of the HRPF, and ATI's share of the JV operating profits.
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KSS... | Hot Stocks08:46 EDT Kohl's: Footwear had double digit comp in Q4 - CFO Bruce Besanko says Kohl's (KSS) saw significant improvement in average transaction value in Q4. He said footwear had a double digit comp in Q4. He expects a mid-single digit percentage decrease in inventory levels in FY18. Expects to report Q1 results during week of May 20th. The Fly notes that Kohl's has partnered with Under Armour (UA, UAA), Nike (NKE) and adidas (ADDYY) to sell the companies' shoes and apparel in Kohl's stores.
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CORE | Hot Stocks08:44 EDT Core-Mark announces retirement of CEO Thomas Perkins - Core-Mark Holding Company announced a leadership transition plan in which Thomas Perkins, CEO, will retire on June 30, 2018 and will also step down from the Board of Directors. Perkins will be succeeded by Scott McPherson, president and COO, who will become president and CEO r and a member of the Board immediately upon Perkin's retirement.
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BBY... | Hot Stocks08:44 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Best Buy (BBY), up 1%... Salesforce (CRM), up 4%... 3D Systems (DDD), up 14%... AMC Entertainment (AMC), up 5%. ALSO HIGHER: Novavax (NVAX), up 29% after reporting Phase I/II safety and immunogenicity data in healthy older adults treated with NanoFlu trivalent vaccine with Matrix M-1 adjuvant... Newell Brands (NWL), up 9% after The New York Post reported that Carl Icahn recently purchased a leading equity stake in the company. DOWN AFTER EARNINGS: Box (BOX), down 14%... Patterson Companies (PDCO), down 18%... Monster Beverage (MNST), down 8%... L Brands (LB), down 7%. ALSO LOWER: Portola Pharmaceuticals (PTLA), down 21% after the company disclosed an FDA communication regarding additional randomized trial data for AndexXa... Overstock (OSTK), down 8% after disclosing that the Division of Enforcement of the SEC informed the company that it is conducting an investigation and requested that the company voluntarily provide certain documents related to initial coin offerings and cryptocurrency tokens.
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TENX | Hot Stocks08:43 EDT Tenax Therapeutics publishes preclinical study of levosimendan - Tenax Therapeutics announced the publication of a positive preclinical study of levosimendan conducted by Hansen et al in the March 1, 2018, issue of Pulmonary Circulation. The study found that chronic administration of levosimendan improved right heart function. Hansen and colleagues assessed the effects of levosimendan in an experimental model of right heart failure. The authors conclude the study results support the "potential therapeutic value of chronic levosimendan in treatment RV failure. This is the second study published in recent months by Hansen and colleagues who have investigated the potential benefits of levosimendan treatment for right heart failure secondary to pulmonary hypertension. Observations from these preclinical studies are in keeping with previous clinical trials of levosimendan in pulmonary hypertension patients conducted by Kleber et al in 2009 and Jiang et al in 2017. Each provided evidence that levosimendan may provide benefits to patients with pulmonary hypertension, including those with coexisting right heart failure.
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AAPL... | Hot Stocks08:42 EDT IDC: Global wearables market up 7.7% in Q4, 10.3% in 2017 - The worldwide wearables market continued its upward trajectory in both the fourth quarter and full year 2017 with total shipment volumes reaching new records. Moreover, thanks to a surge in smartwatch shipment volumes, Apple (AAPL) moved past competitors Fitbit (FIT) and Xiaomi to claim overall leadership for both the quarter and the year. According to data from the International Data Corporation Worldwide Quarterly Wearable Device Tracker, total volumes for the quarter reached 37.9 million units, up 7.7% from the 35.2 million units shipped in the same quarter a year ago. For the full year, total wearable device shipments reached 115.4 million units, up 10.3% from the 104.6 million units shipped in 2016. "The 10.3% year-over-year growth in 2017 is a marked decline from the 27.3% growth we saw in 2016," said Ramon T. Llamas, research director for IDC's Wearables team. "The slowdown is not due to a lack of interest - far from it. Instead, we saw numerous vendors, relying on older models, exit the market altogether. At the same time, the remaining vendors - including multiple start-ups - have not only replaced them, but with devices, features, and services that have helped make wearables more integral in people's lives. Going forward, the next generation of wearables will make the ones we saw as recently as 2016 look quaint."
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FCEL CPB | Hot Stocks08:42 EDT FuelCell announces new five-megawatt project with Campbell Soup - FuelCell Energy (FCEL) announced the execution of a 20-year power purchase agreement with a subsidiary of existing customer Campbell Soup Company (CPB), to install two SureSource 3000 fuel cells that will generate 5MW of power at its Bakersfield, California manufacturing site, home of Bolthouse Farms brand beverages, carrots and dressings. FuelCell Energy will provide a comprehensive turn-key project solution that includes engineering, procurement, construction, and maintenance services under a 20-year power purchase agreement. The combined heat and power (CHP) fuel cell system will provide reliable and low carbon electricity and steam that will lead to a reduction in energy costs while enhancing power reliability from on-site power generation. Generating both power and thermal energy from the same unit of natural gas fuel reduces heating costs and the associated pollutants and carbon emissions from more traditional combustion-based boiler systems.
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BBY | Hot Stocks08:41 EDT Best Buy CFO says Q4 'way better than expected'
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WIT | Hot Stocks08:40 EDT Wipro to acquire minority stake in Denim Group - Wipro Limited and Denim Group, an independent application security firm, announced that Wipro has signed a definitive agreement to acquire a minority stake in the U.S. based company.
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OSTK | Hot Stocks08:38 EDT Overstock.com reveals SEC investigation into cryptocurrency token sale - In a regulatory filing, Overstock.com said that in February, the Division of Enforcement of the SEC informed the company that it is conducting an investigation in the matter Re: Overstock.com, Inc. -- NY-9777 -- and requested that the company voluntarily provide certain documents related to the Offering and the Tokens in connection with its investigation. The company is in the process of responding to this document request and will cooperate with the SEC in connection with its investigation. While the SEC is trying to determine whether there have been any violations of the federal securities laws, the investigation does not mean that the SEC has concluded that anyone has violated the law. Also, the investigation does not mean that the SEC has a negative opinion of any person, entity, or security. Overstock.com is down 11.4% in pre-market trading.
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ARNA | Hot Stocks08:36 EDT Arena Pharma presenting Phase 1 preclinical data on Crohn's disease candidate - Arena Pharmaceuticals will present Phase 1 and preclinical data for the investigative drug candidate APD371 at the American Pain Society Annual Scientific Meeting on March 6. APD371 was evaluated in Phase 1 studies to assess the safety, tolerability and pharmacokinetics of a single ascending dose or multiple ascending doses in healthy volunteers. In these studies, APD371 was safe and well-tolerated. APD371 did not exhibit psychotropic effects that are commonly seen with cannabinoids. In parallel preclinical studies, APD371 demonstrated full efficacy at human and rodent CB2 receptors. APD371 is currently being evaluated in a Phase 2 proof-of-concept trial for visceral pain associated with Crohn's disease.
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ALE | Hot Stocks08:35 EDT Allete Clean Energy to sell Phase II of Thunder Spirit wind farm to MDU for $85M - ALLETE Clean Energy, a wholly-owned subsidiary of ALLETE Inc., announced its plan to sell the 48-megawatt phase two of the Thunder Spirit wind farm near Hettinger, North Dakota to Montana-Dakota Utilities. The approximately $85M sale is expected to close when ALLETE Clean Energy's development of the site, scheduled to begin in May 2018, is complete later this year.
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PETX | Hot Stocks08:33 EDT Aratana Therapeutics announces collaboration with AskAt - Aratana Therapeutics announced an animal health research and development collaboration with AskAt, including an option agreement for multiple therapeutic candidates with potential in pain, allergy and cancer. AskAt is a life-sciences company based in Nagoya, Japan, discovering and developing novel compounds in human health. Members of AskAt's research team, while in a predecessor company, led the initial discovery of compounds that were licensed and developed by Aratana and became two of Aratana's FDA-approved therapeutics. In addition, Aratana has licensed the exclusive, worldwide rights to develop and commercialize AT-019, known as AAT-008 by AskAt, a potent and innovative EP4 receptor antagonist therapeutic candidate with potential in pain, inflammation and other indications. The AT-019 license agreement includes an upfront payment of $0.5M; milestone payments of up to $15.5M; and tiered single-digit royalties based on net sales.
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WGL | Hot Stocks08:33 EDT WGL Holdings raises annual dividend 2c to $2.06 per share - The Board of Directors of WGL Holdings on February 22, 2018, voted to increase the annualized dividend on its common stock by 2c to $2.06 per share from $2.04 per share. The Board of Directors also declared a regular quarterly dividend of 51.5c per share of common stock. The quarterly dividend is payable May 1, 2018, to shareholders of record on April 10, 2018.
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MDU ALE | Hot Stocks08:33 EDT MDU Resources purchasing North Dakota wind farm to be developed by Allete - MDU Resources (MDU) division Montana-Dakota Utilities has signed an agreement to purchase a North Dakota wind farm expansion to be developed by ALLETE Clean Energy, a subsidiary of Allete (ALE). The expansion of Thunder Spirit Wind, located near Hettinger, North Dakota, will boost the combined production at the wind farm to approximately 155 megawatts of renewable energy. The original 107.5-MW Thunder Spirit Wind project was constructed by ACE and included 43 turbines; it was purchased by Montana-Dakota in December 2015. The expansion calls for 16 turbines producing 48 MW. The project's cost is approximately $85M and is expected to be online in late 2018.
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SPXC | Hot Stocks08:33 EDT SPX Corporation announces acquisition of Schonstedt Instrument Company - SPX Corporation announced that it has completed the acquisition of Schonstedt Instrument Company, based in Kearneysville, West Virginia. Schonstedt is a manufacturer and distributor of magnetic locator products used for locating underground utilities and other buried objects. Schonstedt's 2017 annual revenues were approximately $9M and the acquisition is expected to be modestly accretive to SPX's 2018 adjusted earnings. The company's results will be reported as a part of SPX's Radiodetection business unit within its Detection & Measurement segment.
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PZZA | Hot Stocks08:32 EDT Papa John's announces $100M accelerated share repurchase program - Papa John's International announced that it has entered into a $100M accelerated share repurchase agreement with Bank of America, N.A. The company will acquire shares under the ASR Agreement as part of its $500M share repurchase authorization previously announced on August 1, 2017. Pursuant to the terms of the ASR Agreement, the company will pay BofAML $100M in cash and will initially receive a substantial majority of the shares of the company's common stock it expects to repurchase under the ASR Agreement. The total number of shares to be repurchased will be based on the average of the daily volume-weighted average prices of the company's common stock during the term of the transaction, less an agreed discount and subject to potential adjustments pursuant to the terms and conditions of the ASR Agreement. At final settlement, BofAML may be required to deliver additional shares of common stock to the company, or under certain circumstances, the company may be required to deliver shares of common stock or to make a cash payment, at its election, to BofAML. The final settlement of the transaction under the ASR is expected to occur no later than the third quarter of 2018.
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WWR | Hot Stocks08:31 EDT Westwater Resources announces business plan for graphite battery materials - Westwater Resources is pleased to announce the completion of an initial optimization study of Alabama Graphite Corp.'s Coosa Graphite Project and the development of an enhanced business plan for its advancement. WWR is in the process of acquiring Alabama Graphite, with the transaction expected to close during Q2 2018. WWR's process of optimization is centered on both improvements to the economics and project risk reduction. This study has further de-risked the project, as well as improved the economics of the project over the near term. Results of the study include: Economic Improvements to the Coosa Project compared to AGC's 2015 Preliminary Economic Assessment:Reduced initial capital expenditures by almost one-third to $30.0 million from $43.4 million. Increased the net present value to $490 million from $444 million. Advanced revenues to 2020 from 2022. Advanced positive cash flow to 2021 from 2022. Coosa Graphite Project Optimization and Risk Reduction Results:Proven graphite purification processes are utilized rather than lab scale, yet-to-be proven technologies. Mine permitting construction is no longer on the critical path for development because the processing plant initiates operations utilizing low-cost purchased graphite concentrate feedstock. WWR estimates that mining operations can be deferred until 2026, with initial mine capital expenditures funded by internal cash flow. A more advantageous product mix will be utilized to better serve developing markets for battery materials. Staged introduction of advanced materials allows for more conservative product development and pre-qualification with customers. Meetings in February 2018 with officials in the State of Alabama show strong support for the Coosa Graphite Project as a supplier to the green energy materials sector.
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BBY | Hot Stocks08:28 EDT Best Buy says sees FY19 CapEx $850M-$900M - Sees FY19 adjusted tax rate approximately 25%.
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PFPT | Hot Stocks08:27 EDT Proofpoint completes Wombat Security acquisition, adjusts financial outlook - Proofpoint announced it has completed its acquisition of Wombat Security Technologies, a company engaged in phishing simulation and security awareness computer-based training. Proofpoint expects the acquisition of Wombat Security to have the following impact to its financial outlook for the first quarter, and full year 2018, as previously provided on February 6, 2018: For the full year 2018: Increase the billings range to $864M-$869M as compared to the previous range of $828M-$833M. Increase the revenue range to $691M$-$696M as compared to the previous range of $660M-$665M. Reduce the non-GAAP net income range to $46M-$50M as compared to the previous range of $52M-$56M. Increase the free cash flow range to $140M-$142M as compared to the previous range of $138M-$140M. For the first quarter of 2018: Increase the billings range to $182M-$184M as compared to the previous range of $180M-$182M. Increase the revenue range to $151M-$153M as compared to the previous range of $149M-$151M. Reduce the non-GAAP net income range to $7.5 - $8.5 million as compared to the previous range of $8M-$9M. No material impact to the previous range of $22M-$24M of free cash flow
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BC | Hot Stocks08:22 EDT Brunswick announces plans to spin-off fitness business - Brunswick Corporation announced that its Board of Directors has authorized proceeding with a spin-off of its Fitness business. Following the proposed transaction, the Fitness business will be an independent, standalone, publicly traded company, "FitnessCo". FitnessCo, which will be formally named at a later date, will continue to manufacture and sell its strength and cardiovascular equipment and game tables and accessories under the Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, SCIFIT and Brunswick Billiards brand names. As an independent company, FitnessCo will be able to focus more sharply on driving product leadership, operational excellence and technology development to address evolving commercial fitness marketplace trends. FitnessCo sales revenue was $1.03B in 2017. FitnessCo will remain headquartered in Rosemont, Illinois. Jaime Irick, current President of the Company's Fitness division, will lead FitnessCo upon completion of the transaction. Following the spin-off, Brunswick, comprised of the Marine Engine and Boat segments, will remain a global leader in recreational marine products. The Marine Engine segment, which consists of Mercury Marine, manufactures and distributes a broad range of marine propulsion systems and related parts and accessories. The Boat segment manufactures and distributes a range of recreational boats under 14 boat brand names including Boston Whaler, Bayliner, Lund, Lowe, Harris and others. These businesses generated approximately $3.5B in sales in 2017. The Brunswick marine portfolio will continue to deliver unique technology and solutions to boaters worldwide. Mark Schwabero will continue to lead Brunswick following the spin-off. The Company will remain headquartered in Mettawa, Illinois, and will continue to trade on the New York Stock Exchange under the ticker symbol BC.
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EVA | Hot Stocks08:20 EDT Enviva reports fire at Chesapeake terminal, may impact Q1 shipments and results - Enviva reported that a fire commenced at its deep-water marine terminal in Chesapeake, Virginia late on Tuesday, February 27. The fire was quickly controlled due to the efforts of onsite personnel and the Chesapeake terminal's fire suppression and mitigation processes, with assistance from local fire departments and other first responders. While the Chesapeake terminal is being returned to safe, full commercial operations, the partnership expects to utilize several storage alternatives to minimize the impact of the incident, including excess capacity at its deep-water marine terminal in Wilmington, North Carolina and other temporary storage facilities. The fire may impact the timing and number of shipments in the Q1 and the partnership expects to incur cost and liabilities associated with the event, which may impact the first quarter's financial results. However, due to the partnership's portfolio of production plants and export terminals and the fulfillment flexibility in its off-take contracts and shipping schedule, the partnership does not expect the fire to impact the guidance provided in its earnings release for FY18 adjusted EBITDA and distributable cash flow, subject to recoveries under insurance policies it maintains to mitigate against certain risks and other contractual rights.
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CDMO | Hot Stocks08:19 EDT Avid Bioservices selected by Acumen Pharmaceuticals for ACU193 support - Avid Bioservices announced that Acumen Pharmaceuticals has selected Avid to provide process development and clinical manufacturing services in support of ACU193, which is being developed for the treatment of Alzheimer's disease. ACU193 is a fully humanized IgG2 monoclonal antibody that selectively binds soluble Abeta oligomers, potentially blocking their toxic effects. Avid and Acumen will immediately commence process development work with the goal of creating a robust, cost-effective and scalable process to support cGMP manufacture of ACU193. Process development and clinical manufacture of ACU193 will take place in facilities on Avid Bioservices' CDMO campus in Orange County, CA. These include the company's Myford facility, which is designed with cutting-edge, single-use equipment to accommodate a fully disposable biomanufacturing process. A wide range of innovative features are incorporated into this new facility including monolithic modular clean rooms, dedicated support utilities for each key processing area, and the industry's most advanced single-use production systems and flexible solutions. Uni-directional process flows separate personnel and materials and provide assurance that the design meets the most stringent regulatory requirements for commercial biologics API manufacturing.
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IEP | Hot Stocks08:17 EDT Icahn Enterprises approves increase in quarterly distribution to $1.75 per unit - On February 27, the board of directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $1.75 per depositary unit, an increase from $6.00 to $7.00 in the annualized distribution. The quarterly distribution is payable in either cash or additional depositary units, at the election of each depositary unit holder and will be paid on or about April 16 to depositary unitholders of record at the close of business on March 12. Depositary unit holders have until April 5 to make an election to receive either cash or additional depositary units; if a holder does not make an election, it will automatically be deemed to have elected to receive the distribution in cash.
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CSTM | Hot Stocks08:15 EDT Constellium opens new plant in San Luis Potosi, Mexico - Constellium announced the grand opening of its new Automotive Structures plant in San Luis Potosi, Mexico, to supply aluminium Crash Management Systems and structural components to automakers in Mexico.The 5,000 sq m facility in San Luis Potosi features the latest technology for forming, machining, welding and heat-treating aluminium automotive components, along with a state-of-the-art quality lab to ensure products meet customers' precise specifications. The plant is expected to have 100 employees by 2019 and may be expanded to 13,000 sq m to adapt to customers' future supply needs. The automotive industry expects more than five million vehicles will be assembled annually in Mexico by 2020, making it one of the largest markets for automobile production.
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BBY | Hot Stocks08:15 EDT Best Buy says plans to expand total tech support program nationwide
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BBY | Hot Stocks08:13 EDT Best Buy says plans to continue to ramp up in-home advisor program in FY19 - Says will add advisors in FY19.
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H | Hot Stocks08:08 EDT Hyatt announces extension of World of Hyatt loyalty program to home sharing - Hyatt Hotels announced an extension of the World of Hyatt loyalty program to the home sharing space. Effective today, members can now earn and redeem World of Hyatt points with Oasis, engaged in serviced home rental accommodations that offers more than 2,000 personally vetted homes across more than 20 destinations worldwide.
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PTIE | Hot Stocks08:08 EDT Pain Therapeutics announces FDA acceptance of REMOXY NDA - Pain Therapeutics announced that the U.S. Food and Drug Administration has determined that a New Drug Application for REMOXY ER, the Company's lead drug candidate, is sufficiently complete to permit a substantive review. The FDA has set an action date of August 7, 2018 under the Prescription Drug User Fee Act. The Company believes the FDA will hold an open advisory committee meeting to discuss REMOXY ER, although a date has not yet been determined. REMOXY ER is an abuse-deterrent, extended-release, capsule formulation of oxycodone, a prescription drug for severe pain. REMOXY ER has a thick, sticky, high-viscosity capsule formulation designed to deter unapproved routes of drug administration, such as injection, snorting or smoking. Pain Therapeutics developed REMOXY ER to make oxycodone difficult to abuse yet provide 12 hours of steady pain relief when used appropriately by patients with pain.
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TEDU | Hot Stocks08:07 EDT Tarena to acquire a regional K-12 robotics education company - Tarena has entered into a definitive agreement to acquire Wuhan Haoxiaozi Robot Technology Co., one of the largest K-12 robotics programming education service providers in Hunan and Hubei provinces in China. Founded in 2009, Rtec is a pioneer teaching institution that provides robotics education services in China to children aged from 3 to 12 years old. It now serves nearly 4,000 students through over 20 directly operating learning centers. The total consideration for this acquisition is not disclosed.
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GNCMA... | Hot Stocks08:07 EDT Liberty Interactive to change name to Qurate Retail Group - Liberty Interactive Corporation announced that it will rename itself "Qurate Retail Group." Liberty Interactive will begin using this new name once the company completes the split-off of GCI Liberty following the previously announced acquisition of GCI Liberty, formerly General Communication (GNCMA), and will formally effect this name change at a later date. The company also announced that Mike George, currently CEO of QVC, Inc., will become President and CEO of Qurate Retail Group. Greg Maffei, who currently holds that position, will become Chairman. Qurate Retail Group will trade under new tickers "QRTEA" and "QRTEB" and will include the businesses and assets currently attributed to QVC Group tracking stock (QVCA), including QVC, Inc., HSN, Inc. and zulily, LLC, which are currently wholly owned subsidiaries of Liberty Interactive, and several smaller investments. "Qurate Retail Group will comprise eight leading retail brands -- QVC, HSN, zulily, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements -- all dedicated to providing a 'third way to shop,' beyond transactional ecommerce or traditional brick-and-mortar stores." Globally, Qurate Retail Group will be number 1 in video commerce, reaching approximately 370 million homes worldwide via 16 television networks and multiple ecommerce sites, social pages, mobile apps, print catalogs, and in-store destinations, and will be number 3 in ecommerce in North America and number 3 in mobile commerce in the U.S., the company stated.
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BBY | Hot Stocks08:06 EDT Best Buy says customers responding 'very positively' to Best Buy 2020 strategy - Comments from Q4 earnings conference call.
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CARA | Hot Stocks08:06 EDT Cara Therapeutics doses first patient in Phase 1 trial of oral Korsuva - Cara Therapeutics (CARA) initiated the Phase 1 clinical trial of its oral formulation of CR845/difelikefalin, Korsuva, in patients with chronic liver disease. The oral tablet formulation of Korsuva was engineered using Enteris' proprietary oral peptide and small molecule delivery technology, Peptelligence. The Oral Korsuva Phase 1 initiation marks the fourth clinical program involving an oral formulation of Cara Therapeutics' CR845. Oral CR845 is also the subject of a Phase 2 program in chronic pain, a Phase 1 program in hemodialysis chronic kidney disease and a Phase 1 program in non-hemodialysis chronic kidney disease patients. Cara Therapeutics has the opportunity to negotiate a license to the Peptelligence technology for oral CR845 from Enteris at any time. The Phase 1 trial is designed to examine the pharmacokinetics and safety of twice-daily tablet strengths of oral Korsuva in up to 60 patients with CLD, and up to 12 matched healthy control subjects dosed over an eight-day treatment period in patients with mild, moderate or severe CLD. In addition, PK and safety tolerability will be assessed with KORSUVA up to 5.0mg tablet strength in mild and moderate CLD patients. The FDA has conditionally accepted Korsuva as the trade name of difelikefalin injection. CR845/difelikefalin is an investigational drug product and its safety and efficacy have not been fully evaluated by any regulatory authority.
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GTT | Hot Stocks08:05 EDT GTT 'progressing' on financial goals of $2B in revenue, $550M in adjusted EBITDA
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LAD | Hot Stocks08:04 EDT Lithia Motors acquires six car stores estimated to generate $900M - Lithia Motors has acquired six marquee stores from Prestige Family of Fine Cars in Bergen County, New Jersey, including a BMW, Mini, Mercedes, Toyota and two Lexus stores. The group is estimated to generate $900M in steady state annual revenue.
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SPTN | Hot Stocks08:03 EDT SpartanNash announces 9% increase in quarterly dividend to 18c per share - SpartanNash announced that its Board of Directors has approved an increase to its quarterly cash dividend from 16.5c per common share to 18c per common share. The dividend will be paid on March 29, 2018 to shareholders of record as of March 16, 2018. As of February 28, 2018, there were 36,048,591 common shares outstanding.
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QVCA LVNTA | Hot Stocks07:54 EDT LIberty Interactive says QVC to rebrand as Qurate Retail Group - Following the completion of the proposed transactions between Liberty Interactive and GCI, the QVC Group will cease to trade as a tracking stock and will effectively become an asset-backed stock. In addition, Liberty Interactive announced that it intends to rebrand as Qurate Retail Group after the closing of the transactions, with the formal name change to follow. The new Qurate Retail Group will represent a select group of like-minded retail businesses offering a third way to shop -- beyond traditional brick-and-mortar or transactional eCommerce. Qurate Retail Group will consist of eight retail brands -- QVC, HSN, zulily, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements. It will also hold a minority interest in ILG, various green energy investments and is expected to include Liberty Interactive's interest in FTD. As part of the rebranding to Qurate Retail Group, the QVCA and QVCB tickers are expected to change to QRTEA and QRTEB, respectively, effective on the first trading day following the GCI Liberty split-off, which is expected to be March 12th.
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BBY | Hot Stocks07:49 EDT Best Buy jumps 5% in pre-market trading after better than expected Q4 results - The company also said earlier that Enterprise SSS increased 9%.
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NRG | Hot Stocks07:46 EDT NRG Energy backs 2018 adjusted EBITDA, cash from operations guidance - Backs FY18 adjusted EBITDA view $2.8B-$3B, cash from operations view $2.015B-$2.215B, free cash flow before growth view $1.55B-$1.75B. The NRG Board of Directors has authorized $1B for share repurchases, with the first $500 million program to begin immediately. Following the completion of the initial program, and as NRG progress towards the closing of the announced asset sales, NRG expects to execute the remaining $500M of the $1B share repurchase program.
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CSX | Hot Stocks07:45 EDT CSX to outline plan targeting 60% operating ratio by 2020 - CSX Corporation president and CEO James Foote will outline CSX's plans to build upon the foundation of the company's scheduled railroading model, increase efficiency, control costs, grow the business and target a 60% operating ratio by 2020. Highlights of CSX's Financial Targets include: Full-year operating ratio of 60% by 2020; Revenue growth at a compound annual rate of 4% in 2019 and 2020; Average annual capital expenditures of $1.6B through 2020; Cumulative free cash flow of $8.5B from 2018 to 2020; Share re-purchase of $5B to be complete by 1Q19.
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NRG | Hot Stocks07:44 EDT NRG Energy unit to sell Boston Energy Trading to Diamond Generating - A subsidiary of NRG has entered into a purchase and sale agreement with a subsidiary of Diamond Generating Corporation, a subsidiary of Mitsubishi Corporation, to sell Boston Energy Trading and Marketing LLC. The transaction is expected to close in the second half of 2018 and is subject to closing conditions, approvals and consents including Federal Energy Regulatory Commission and the Committee on Foreign Investment in the United States.
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MGPI | Hot Stocks07:43 EDT MGP Ingredients sees modest gross margin growth in 2018 - MGP is offering the following guidance for fiscal 2018 and beyond.Reconfirming previous guidance, operating income is expected to grow between 10% and 15% for fiscal year 2018. The Company's conservative estimate of growth in operating income in 2019 is 15% to 20% as sales of aged whiskey inventory becomes a more significant factor. 2018 net sales growth is projected in the high single-digit percentage range versus 2017, subject to some volatility as the Company continues to shift sales from industrial to premium beverage alcohol. 2018 gross margins are expected to continue to grow modestly versus 2017. 2018 effective tax rate is forecast to be 25%, and shares outstanding are expected to be approximately 16.9 million at year end
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AAXN | Hot Stocks07:42 EDT Axon receives large order from Virginia Beach Police Department - Axon has received an order for 1,060 Axon body and in-car cameras on Evidence.com from the Virginia Beach Police Department for agency-wide deployment. This order was received in Q1 and will ship in multiple phases. VBPD will roll out 250 Axon Fleet in-car video systems, totaling 500 cameras, under the TASER Assurance Plan. The agency also purchased 560 Axon Body 2 cameras on TAP on Evidence.com and 250 Axon Signal Units. Significant orders were received from other domestic agencies in 4Q17 and 1Q18 and will ship in multiple phases, including Austin Police Department's add-on order 1,117 Axon Body 2 and 74 Axon Flex 2 cameras on TAP on Evidence.com and 828 Axon Signal PPMs; Miami Police Department's order for 650 Axon Body 2 cameras on TAP with five years on Evidence.com; Omaha Police Department's add on order for 460 Axon Body 2 cameras on TAP with three years on Evidence.com , 175 Axon Signal Units and 159 Axon Signal PPMs.
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NYLD | Hot Stocks07:40 EDT NRG Yield reports Q4 adjusted EBITDA $204M vs. $214M last year - For the fourth quarter of 2017, NRG Yield reported a Net Loss of $98M, Adjusted EBITDA of $204M, Cash from Operating Activities of $142M, and CAFD of $59M. Fourth quarter Net Loss results were primarily due to the $68M write down of the revaluation of the existing net deferred tax asset pursuant to the reduction in the corporate income tax rate to 21% in accordance with the Tax Cut and Jobs Act and $31M of non-cash asset impairments within NRG Wind TE Holdco at two separate wind projects: Elbow Creek located in Texas, and Forward Wind located in Pennsylvania. Fourth quarter Adjusted EBITDA results were lower than 2016 primarily due to lower wind production in 2017 versus fourth quarter 2016, partially offset by growth in the distributed generation partnerships. CAFD results were lower than 2016 primarily due to Adjusted EBITDA results, partially offset by higher distributions received from Agua Caliente and distributed generation partnerships.
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VRTX | Hot Stocks07:40 EDT Vertex initiates Phase 3 study of tezacaftor and ivacaftor for CF - Vertex announced that it is initiating a Phase 3 study of VX-659, tezacaftor and ivacaftor as an investigational triple combination regimen for people with cystic fibrosis, or CF, who have two copies of the F508del mutation, the most common genetic form of the disease. The study will enroll approximately 100 patients, and the primary endpoint of the study is the mean absolute change from baseline in percent predicted forced expiratory volume in one second at week four of treatment. The study is designed to support the submission of an application for approval in patients with two copies of the F508del mutation in the U.S. using data from the 4-week primary efficacy endpoint together with 24-week safety data generated from the recently initiated Phase 3 study in patients with one F508del mutation and one minimal function mutation. The initiation of the Phase 3 study in people with CF who have two copies of the F508del mutation is based on data announced today from a Phase 2 study that showed a mean absolute improvement in ppFEV1 of 9.7 percentage points from baseline through week four of treatment when VX-659 was added in people with CF who have two F508del mutations and were already receiving tezacaftor in combination with ivacaftor. In the Phase 2 study, the VX-659 triple combination regimen was generally well tolerated, the majority of adverse events were mild to moderate in severity and there were no discontinuations due to adverse events.
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TROX | Hot Stocks07:39 EDT Tronox announces extension to Cristal TiO2 acquisition agreement - Tronox announced the parties have agreed to an extension of the previously announced agreement to acquire the titanium dioxide business of Cristal, a privately held global chemical and mining company headquartered in Jeddah, Saudi Arabia. Pursuant to the amendment, the parties agreed to extend the end date for the transaction from May 21, 2018 to June 30, 2018 with automatic three-month extensions until March 31, 2019, if necessary based on the status of outstanding regulatory approvals. Tronox paid no extension fee for the amendment and has the right to terminate the agreement if it determines regulatory approval of the transaction is not reasonably likely to be obtained, with no fee payable for such a termination of the agreement prior to January 1, 2019. However, Tronox would be required to pay a termination fee of $60M if either party terminates the agreement on or after March 31, 2019 due to failure to obtain regulatory approval or Tronox terminates the agreement after December 31, 2018 if it determines regulatory approval is not likely to be obtained.
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NSPR | Hot Stocks07:38 EDT InspireMD signs exclusive distribution agreements - InspireMD announced it has signed an exclusive distribution agreement with T-Vascular IKE Medical Supplies, in Greece, and Endo-Serv, SRL in the Caribbean, both of whom are premier suppliers of high-tech medical devices used in minimally invasive procedures. Endo-Serv markets products in the Dominican Republic, Jamaica, Aruba, Curacao, as well as Trinidad and Tobago.
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IPXL | Hot Stocks07:37 EDT Amneal launches generic Tamiflu oral suspension - Amneal Pharmaceuticals has launched oseltamivir phosphate for oral suspension, the company's AB-rated therapeutic equivalent for Tamiflu, in a 6 mg/mL strength. The powder finished dosage form is made in the U.S.A. and packaged in bottles providing 60 mL of usable volume after constitution. Amneal's oseltamivir phosphate for oral suspension joins its oral solid capsule form approved and launched in July 2017. Amneal Pharmaceuticals and Impax Laboratories announced on October 17, 2017 that they have entered into a definitive business combination agreement with the resulting combined company expected to create the 5th largest generics business in the United States. The transaction is expected to close in the first half of 2018.
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CDNA | Hot Stocks07:36 EDT CareDx to refinance debt with Perceptive Advisors - CareDx announced that it has entered into a binding commitment with Perceptive Advisors, which will provide a term loan of between $15M and $35M. In addition, CareDx notified JGB of its intention to prepay the outstanding principal balance of the convertible notes issued by the Company to JGB. Under the existing agreement with JGB, the Company is required to give notice to JGB 30-trading days before it makes the prepayment. During that notice period, JGB may convert any amount of the current $26.3 million outstanding principal into the Company's common stock at a conversion price of $4.33 per share. Funding of the new Perceptive Advisors term loan will occur at the end of the 30-trading day notice period, April 13, 2018, at which time the Company may request to draw $15M, $25M or $35M. The proceeds from the new facility will enable the Company to immediately repay the remaining outstanding loan obligation to JGB, as well its $11.4M debt obligation to Danske Bank and the Allenex former majority shareholders. Upon repayment to JGB, $9.4M of the Company's restricted cash will become available for use. The Perceptive Advisors term loan will have an interest rate of 10.5%, an interest-only period of three years, and a maturity date of April 2023, but may be prepaid by the Company, in whole or in part, at any time.
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TGNA | Hot Stocks07:35 EDT Tegna sees Q1 total company revenue up high single digits y/y - In the first quarter, TEGNA expects: Non-GAAP total company revenue excluding the terminated digital business to increase 10%-12% year-over-year driven by Olympics, Super Bowl and subscription revenue growth. GAAP total company revenue to increase high-single digits year-over-year. Revenue consensus is $504.01M.
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AFSI | Hot Stocks07:35 EDT AmTrust trading resumes
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XOXO | Hot Stocks07:34 EDT XO Group backs long-term financial targets - XO Group reiterated its long-term financial targets of double digit revenue growth rates, gross margins of approximately 90-95%, and adjusted EBITDA margins of 20%.
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PRIM | Hot Stocks07:34 EDT Primoris announces utilities and distribution award valued over $20M - Primoris Services Corporation announced a new pipeline award valued over $20M. The contract was secured by ARB Underground, part of the Utilities & Distribution segment.The award is a two year contract with a major utility customer in Northern California. The work consists of anomaly digs and casing removal work, both of which are used in testing the integrity of a pipeline system. Work is scheduled to commence in the first quarter of 2018, and completion is expected in the fourth quarter of 2019.
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SLG | Hot Stocks07:33 EDT SL Green Realty JV to sell 175-225 Third Street site for $115M - SL Green Realty Corp. announced that its joint venture has entered into an agreement to sell the 3-acre development site at 175-225 Third Street in Gowanus, Brooklyn for a gross asset valuation of $115M. The joint venture, of which SL Green owns 95%, acquired the 140,000 square-foot site in 2014 for $72.5M. The transaction is expected to close in the first quarter of 2018 and will generate net proceeds to SL Green of approximately $70M. Proceeds from the sale are expected to be used to continue the company's stock repurchase program, which it expanded in December 2017 to $1.5B. To date, the company has repurchased a total of 11,854,335 shares at an average price of $100.30.
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QCOM AVGO | Hot Stocks07:32 EDT Qualcomm board 'unanimous' in view that Broadcom offers undervalue company - Qualcomm (QCOM) issued a statement from its Board of Directors in connection with Qualcomm's 2018 Annual Meeting of Stockholders on March 6, stating in part: "Qualcomm's Board remains unanimous in its view that Broadcom's current offer of $79.00 per share, as well as the previous offer of $82.00 per share, materially undervalues the company. Similarly, Broadcom's initial offer of $70.00 per share was so low that it did not merit engagement. We determined it was in the best interests of stockholders to wait for a substantially improved offer - which after several months did eventually come on February 5. The Board undertook a thorough and in-depth process in reviewing the offers and did so through the lens of maximizing long-term stockholder value. This was a decision that was not made lightly and one that was done in consultation with our external financial and legal advisors. Since evaluating and subsequently rejecting the $82 per share offer on February 8, Qualcomm has repeatedly and genuinely attempted to engage with Broadcom on issues including price, regulatory and other closing certainties, including most recently at meetings on February 14 and February 23. In each of those meetings, Broadcom refused to engage in good faith. It instead reiterated its "best and final" stance which it established prior to our first meeting, despite our attempts to find a path to a deal that makes sense for Qualcomm stockholders. Broadcom's refusal to outline its proposal and the future direction of Qualcomm's licensing business also raises significant issues from a value and regulatory perspective."
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MNGA | Hot Stocks07:32 EDT MagneGas European JV awarded $7.2M grant for eco-innovation - MagneGas Corporation announced that its European joint venture with Infinite Fuels, GmbH has been awarded a EUR6M, $7.2M, grant from the Executive Agency for Small and Medium-sized Enterprises, a department within the European Commission. The grant application was made by Infinite Fuels through an Eco-Innovation funding initiative within the Energy, Environment, and Resources Department of EASME. The grant approval process is expected to be finalized and funds made available in mid-2018.
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NYLD | Hot Stocks07:31 EDT NRG Yield increases quarterly 3.47% dividend to 29.8c per share - NRG Yield declared a 3.47% quarterly dividend increase to 29.8c per share in first quarter 2018. Continues to target annualized dividend per share growth of 15% through 2018.
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APWC | Hot Stocks07:31 EDT Lonsin Capital submits indication of interest to acquire majority of APWC - LONSIN Capital Limited, together with its affiliates, representing over 5% of the shares outstanding of Asia Pacific Wire and Cable on February 23, 2018 wrote to the Board of Directors of the Company and to the Board of Directors of the main Shareholder Pacific Electric Wire and Cable Co. the intention of interest to acquire a majority of APWC US at $4.00 per share. The proposal would represent a 62% premium to February 22, 2018 's close of $2.475 and a 47% premium to the five-year average closing price on NASDAQ. LONSIN said, "LONSIN has expressed concern to the management, both orally and in writing, concerning the failure of the Company to take sufficient action to enhance shareholder value and to include an additional independent director on the Company's board of directors over time. On May 18, 2016 LONSIN wrote a requisitioned, open letter to the Board of Directors of APWC asking the Board to consider a range of measures that could help deliver enhanced shareholder value without much cost to the Company. The Board responded by stating that they 'took very seriously concerns about shareholder value.'...In light of the underwhelming track record of the incumbent Board and Management of APWC over the short, medium and longer term, LONSIN believes that the acquisition of the majority stake would bring 'fresh impetus' to APWC's assets and 'swiftly deliver enhanced value for all shareholders.'" A response received from the Board of PEWC's US legal counsel, Michael Hagan, on February 27, 2018 states that the "LONSIN letter has been circulated to the board for their consideration." The response goes on to state that "a substantive response to the LONSIN offer" will be issued in due course but it is unlikely to be before the March 8, 2018 owing to existing commitments of the directors.
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TTI | Hot Stocks07:20 EDT Tetra Technologies to sell its offshore services division to EPIC Offshore - EPIC Offshore Specialty announced it has agreed to acquire the entire offshore services division of Tetra Technologies. Specifically, the businesses to be acquired are the diving, heavy lift, specialized cutting, rigless well P&A, and consulting businesses of Tetra. These businesses provide offshore decommissioning, construction, installation and maintenance services to customers in the U.S. Gulf of Mexico and other markets. At the close of this transaction, EPIC will become an independent company backed by a $1B private company. EPIC will retain the same leadership, employees, assets, quality and safety standards, as well as all certifications.
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AFSI | Hot Stocks07:18 EDT Stone Point Capital, the Karfunkel Family, AmTrust CEO to acquire AmTrust - AmTrust Financial Services announced today that it has entered into a definitive agreement with Evergreen Parent, an entity formed by private equity funds managed by Stone Point Capital, together with Barry D. Zyskind, Chairman and CEO of AmTrust, George Karfunkel and Leah Karfunkel, in which Evergreen Parent will acquire the approximately 45% of the Company's issued and outstanding common shares that the Karfunkel-Zyskind Family and certain of its affiliates and related parties do not presently own or control. The transaction values the fully diluted equity of the Company at approximately $2.7B, excluding the Company's outstanding preferred stock. Under the terms of the proposed merger, AmTrust common shareholders who are not affiliated with the Karfunkel-Zyskind Family will receive $13.50 in cash for each share of AmTrust common stock they hold. This represents a premium of 33% to the Company's unaffected closing common stock price on January 9, 2018, the last trading day before Stone Point and the Karfunkel-Zyskind Family announced their proposal to acquire all of the outstanding common shares of AmTrust that the Karfunkel-Zyskind Family did not already own or control. The Karfunkel-Zyskind Family and certain of its affiliates and related parties will rollover their shares in the Company for interests in Evergreen Parent. Each share of the Company's currently outstanding preferred stock will remain outstanding and it is expected that they will continue to be listed on the New York Stock Exchange following the consummation of the transaction. The proposed merger is anticipated to close in the second half of 2018, subject to satisfaction or waiver of the closing conditions, including approval by regulatory authorities and the Company's shareholders, including approval by a majority of the shares of the Company not owned or controlled by the Karfunkel-Zyskind Family, their children, senior management or their respective affiliates and certain related parties. The Company will file a Current Report on Form 8-K with the Securities and Exchange Commission which will more fully describe the terms and conditions of the proposed merger.
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TGT | Hot Stocks07:18 EDT Target announces limited-edition collaboration with U.K. brand Hunter - Target announced a limited-edition spring collaboration with Hunter, a British heritage brand founded in 1856 known for its Original Wellington boot, protective outerwear, bags and accessories. The collection includes more than 300 items. It spans apparel and accessories for women, men, girls, boys and toddlers, as well as products for the home and outdoors. Hunter for Target will be available April 14, at select Target stores and Target.com.
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TRCO | Hot Stocks07:18 EDT Tribune Media CEO sees 'significant tax savings' in 2018 - CEO Kern said, "Looking ahead to 2018, while we are keenly focused on the completion of our pending merger, we also see growth opportunities in the core business, with the shift in our programming strategy at WGN America expected to turn that business into a significant EBITDA contributor, and the highly contested midterm elections expected to drive a resurgence of political advertising revenue across our diverse footprint of stations. In addition, we expect to realize significant tax savings from the recent changes in the tax code on both our core business operations as well as on any potential gains from continued asset sales."
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OII | Hot Stocks07:16 EDT Oceaneering awarded offshore wind ROV services frame agreement with Van Oord - Oceaneering secured a three-year frame agreement with Van Oord Offshore Wind, an international dredging, marine engineering and offshore contractor. The new agreement relates to Remotely Operated Vehicle and trenching support services. As part of this agreement, Oceaneering has agreed to install one work class ROV onboard Van Oord's cable-laying vessel, the Nexus, for the full three-year term. Additionally, Oceaneering has agreed to provide six ROV systems, including three observational and three work class, onboard Van Oord operated vessels upon request during the first year of the contract term.
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CECE | Hot Stocks07:15 EDT CECO Environmental sells Keystone Filter brand - CECO Environmental is selling its Keystone Filter brand and products to Porvair plc. Terms were not disclosed. The Keystone brand recorded revenue of approximately $4.0M in its last full year and is focused on the drinking water and the food and beverage markets in the USA.
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FGEN | Hot Stocks07:15 EDT FibroGen granted Fast Track Designation for pamrevlumab - FibroGen announced that the U.S. Food and Drug Administration has granted Fast Track designation for the company's anti-CTGF antibody, pamrevlumab, for the treatment of patients with locally advanced unresectable pancreatic cancer. This follows review of the Phase 2 clinical trial evaluating pamrevlumab in combination with gemcitabine and nab-paclitaxel and represents recognition by the FDA that pamrevlumab has the potential to address an unmet medical need for this disease.
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WPP | Hot Stocks07:15 EDT WPP sees 'above industry' revenue growth long-term - Long-term targets include: "Above industry revenue growth, due to effective implementation of horizontality, geographically superior position in new markets and functional strength in new media, data investment management, including data analytics and the application of new technology, creativity, effectiveness and horizontality; improvement in staff costs/revenue less pass-through costs1 ratio of 0 - 0.2 margin points or more depending on revenue less pass-through costs1 growth; revenue less pass-through costs1 operating margin expansion of 0 - 0.3 margin points or more on a constant currency basis, with an ultimate goal of almost 20%; and headline diluted EPS growth of 5% to 10% p.a. from revenue and revenue less pass-through costs growth, margin expansion, strategically targeted small- and medium-sized acquisitions and share buy-backs."
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LVS... | Hot Stocks07:14 EDT Macau reports February casino revenue up 5.7% to 24.3B patacas - Macau's gaming bureau reported February gross revenue from games of fortune in the region rose 5.7% year over year to 24.3B patacas. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Resorts (MLCO).
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WPP | Hot Stocks07:14 EDT WPP says will have 'dual' focus for 2018 - The company said it will have a "dual" focus for 2018: "1. Revenue and revenue less pass-through costs growth from leading position in horizontality, faster growing geographic markets and digital, premier parent company creative and effectiveness position, new business and strategically targeted acquisitions; 2. Continued emphasis on balancing revenue growth with headcount increases and improvement in staff costs/revenue less pass-through costs1 ratio to enhance operating margins."
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CG | Hot Stocks07:14 EDT Carlyle Group announces investment in CFGI - The Carlyle Group announced it has invested in Boston-based CFGI, a national provider of high-end technical accounting and finance advisory services to the office of the CFO. CFGI currently serves more than 500 national and international clients, with offices in Boston, New York, Philadelphia and San Francisco. Equity for the investment came from Carlyle Global Financial Services Partners III and CFGI management. CGFSP III is Carlyle's third dedicated financial services fund and this transaction represents the fund's first investment.
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ALKS | Hot Stocks07:14 EDT Alkermes appoints James Robinson as COO - Alkermes appointed James Robinson as President and COO, effective March 5. Robinson will lead Alkermes' global Commercial, Operations, Business Development and Human Resources functions. He will serve on the executive management team and report to CEO Richard Pops. Robinson joins Alkermes from Astellas US LLC, where he served as President, Americas Operations with responsibility for the company's operations in North and South America.
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WPP | Hot Stocks07:13 EDT WPP sees January like-for-like revenue flat with last year for month
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WPP | Hot Stocks07:13 EDT WPP reports preliminary 2017 headline EPS 120.4p - Reports preliminary 2017 reported revenue up 6.1% to GBP15.265B. Reports preliminary reported billings up 0.6% at GBP 55.563 billion, down 3.9% in constant currency and down 5.4% like-for-like. Reports preliminary 2017 constant currency revenue up 1.6%, like-for-like revenue down 0.3%.
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AAON | Hot Stocks07:12 EDT AAON announces acquisition of WattMaster Controls - AAON closed on the purchase of substantially all of the assets of WattMaster Controls on February 28, 2018. The assets acquired consist primarily of intellectual property, receivables, inventory and fixed assets. AAON funded the acquisition with cash on hand. WCI has been a long-time supplier, primarily of controls, to the Company. The Company also entered into a lease for the facility in Parkville, Missouri previously occupied by WCI, that AAON will utilize to operate this addition to its business. The Company hired substantially all of the WCI employees.
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BID | Hot Stocks07:12 EDT Sotheby's approves $100M increase to share repurchase authorization - Sotheby's announced that its Board of Directors approved a $100M increase to its share repurchase authorization, resulting in an updated share repurchase authorization of $196M as of today.
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TTI | Hot Stocks07:12 EDT Tetra Technologies divesting offshore services and Maritech businesses - Tetra Technologies has signed definitive agreements to divest its offshore heavy lift, plugging and abandonment, decommissioning, cutting, diving and related consulting services businesses and its Maritech operations, along with all of Maritech's related asset retirement obligations. Orinoco Natural Resources and Epic Offshore Specialty have agreed to purchase from Tetra the remaining offshore leases of Maritech and Tetra's subsidiaries involved in these offshore businesses. In addition to Orinoco's assumption of Maritech's $47M asset retirement obligations, at the closings of the transactions, Tetra will keep the working capital of the businesses being sold and receive approximately $3M in cash for inventory and fuel, and a $7.5M promissory note payable on December 31, 2019. Additionally, at closing Orinoco has agreed to provide Tetra with $47M in surety bonds. The transactions are expected to close within a short period of time.
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AVGO QCOM | Hot Stocks07:10 EDT Broadcom urges Qualcomm shareholders to vote for all six Broadcom nominees - Broadcom (AVGO) urged Qualcomm stockholders (QCOM) to vote "FOR" all six Broadcom nominees in connection with the Qualcomm 2018 Annual Meeting of Stockholders to be held March 6, 2018. "It is extremely important that stockholders vote as soon as possible - no matter how many shares they own - to support Broadcom's compelling proposal."
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HOG | Hot Stocks07:07 EDT Harley-Davidson invests in Alta Motors for electric motorcycle collaboration - Harley-Davidson has made an equity investment in Alta Motors, a lightweight electric vehicle manufacturer, and the two companies will collaborate on electric motorcycle technology and new product development. Harley-Davidson has already announced the planned launch of its first electric motorcycle, on track for release in 2019.
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ATRS | Hot Stocks07:07 EDT Antares Pharma receives second installment from sale of Zomajet - Antares Pharma announced that it has received $2.75 million from Ferring Pharmaceuticals in connection with the previously disclosed sale of Antares' worldwide rights, including certain fixed assets, for the ZOMAJET needle-free auto injector device to Ferring. The purchase price of up to $14.5 million is to be paid in four installments of which the $2.0 million upfront payment and the second installment of $2.75 million have now been received. A third installment of $4.75 million will be payable upon satisfaction of customary closing conditions and the remaining payment of $5.0 million upon the completion of the transaction. Antares has been the worldwide supplier of ZOMAJET devices to its partners Ferring and JCR Pharmaceutical Company Ltd. and will continue to manufacture and supply the devices until the completion date pursuant to existing supply arrangements. During the completion period, Antares will continue to receive payment for ZOMAJET devices manufactured and supplied to its partners and a royalty on net product sales in accordance with the existing license and supply agreements. The transaction is subject to certain customary closing conditions and expected to be completed by the end of 2018.
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AFSI | Hot Stocks07:06 EDT AmTrust trading halted, news pending
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IPXL | Hot Stocks07:06 EDT Impax sees Amneal acquisition closing in 2Q18 - "We made significant progress in preparing for our combination with Amneal Pharmaceuticals. Integration planning teams are finalizing key Day 1 plans to ensure business continuity following the close of the transaction. We remain excited about the value of this combination, which will create a more diversified company with one of the industry's leading high-value generic product pipelines. We are currently on track to close the transaction in the second quarter of 2018 and expect to provide combined company full year 2018 guidance after the close of the transaction." "We also completed our operational and cost improvement program nearly one year ahead of schedule," continued CEO Bisaro. "Key highlights included the sale of our Taiwan manufacturing subsidiary for $18.5 million, completing the closure of our Middlesex, New Jersey R&D and packaging facility, and completing our product optimization strategies across our generic portfolio. These actions are expected to generate run-rate savings of approximately $85 million."
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R | Hot Stocks07:06 EDT Ryder appoints Tim Fiore as Chief Procurement Officer - Ryder System appointed Timothy Fiore to the position of Chief Procurement Officer. Fiore is a member of Ryder's Leadership Team and is responsible for Ryder's global procurement organization across all three Ryder business divisions. Over the course of his career, Fiore also served as the Chief Procurement Officer of ThyssenKrupp NA.
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BBY | Hot Stocks07:04 EDT Best Buy board approves 32% increase in regular quarterly dividend to 45c - The company announced its Board of Directors approved a 32% increase in the regular quarterly dividend to 45c per share, effective immediately, and a share repurchase plan of at least $1.5 billion for FY19, which reflects an updated two-year plan of $3.5 billion compared to the original $3.0 billion two-year plan announced at the beginning of FY18. The regular quarterly dividend will be payable on April 12, 2018 to shareholders of record as of the close of business on March 22, 2018.
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IDRA | Hot Stocks07:03 EDT Idera Pharmaceuticals announces launch of Phase 3 trial of IMO-2125 - Idera Pharmaceuticals announced the start of a Phase 3 global, multi-center, open-label clinical trial to evaluate the efficacy and safety of intratumoral IMO-2125 in combination with ipilimumab versus ipilimumab alone in subjects with anti-PD-1 refractory melanoma. The initiation of the Phase 3 trial follows the announcement that IMO-2125 was granted Fast-Track designation by the U.S. Food and Drug Administration, a designation designed to expedite the development and review of drugs with the potential to treat serious or life-threatening conditions such as refractory metastatic melanoma. Results presented at the 2017 European Society for Medical Oncology Congress meeting from the completed phase 1 portion of the ongoing Phase 1/2 clinical trial of intratumoral IMO-2125 in combination with ipilimumab show the combination to be well-tolerated over the entire range of IMO 2125 doses tested, with biopsy evidence for dendritic cell activation followed by infiltration of tumor specific immune cells. These results included 9 patients treated with the Recommended Phase 2 Dose of 8mg of which 4 achieved RECIST v1.1 responses, including one durable Complete Response, with 6 of 9 patients experiencing disease control.
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MSCA | Hot Stocks07:03 EDT Main Street Capital trading halted, news dissemination
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BBY | Hot Stocks07:02 EDT Best Buy sees FY19 SSS flat to up 2% - CFO Corie Barry said "For the full year FY19, we are expecting comparable sales to be flat to growth of 2% on top of the 5.6% growth we delivered in FY18. As we continue to invest in our Best Buy 2020 strategy, we are expecting the operating income rate to be approximately 4.5%, which is flat to FY18 on a comparable 52-week basis. Our non-GAAP diluted EPS is expected to increase in the range of 9% to 13% due to a lower tax rate as a result of tax reform and a lower share count as we continue to return capital to shareholders through share repurchases." Barry continued, "In Q1 FY19, we are expecting comparable sales growth of 1.5% to 2.5% and non-GAAP diluted EPS growth in the range of 13% to 22%. I would like to call out the following factors impacting our Q1 guidance. First, we estimate that the negative impacts from calendar shifts total approximately $100 million in Domestic revenue, with the biggest driver being the timing of the Super Bowl, as related sales were pulled forward into Q4 FY18 versus Q1 FY19. Second, increased investments in supply chain, as well as higher transportation costs, are expected to add approximately 25 basis points of Domestic gross profit pressure. Third, last year's first quarter included approximately $8 million of Domestic gross profit due to a legal settlement that will not recur. Fourth, we expect the International gross profit rate pressure we saw in Q4 FY18 to continue into the first quarter."
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FND | Hot Stocks07:02 EDT Floor & Decor sees FY18 CapEx $140M-$150M - Sees FY18 tax rate 23.7%.
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BBY | Hot Stocks07:02 EDT Best Buy CEO says 'especially proud' of 9% SSS growth in Q4 - "We are excited to report strong results for the fourth quarter and the year," said Hubert Joly, Best Buy chairman and CEO. "We are especially proud of our 9.0% comparable sales growth in the quarter, which brings our annual comparable sales growth to 5.6% for the year. Customers are responding very positively to our Best Buy 2020 strategy, and I want to enthusiastically thank all our associates for their great work in delivering these results. The level of energy and dedication to serving customers that I see across the company is truly inspiring." Best Buy's CFO, Corie Barry, commented, "The comparable sales growth of 9.0% in the quarter is the result of the strong execution of our strategy combined with better product availability, a continued healthy consumer confidence and positive macro conditions, strength in the gaming category, and a favorable competitive environment, as we benefitted from the exit or decline of certain competitors." Barry continued, "From a profitability standpoint, in the Domestic segment, which makes up over 90% of the Enterprise operating income in Q4 FY18, the operating income rate declined. We delivered a flat gross profit rate while our SG&A expenses, excluding tax reform-related expenses, grew slightly more than the revenue growth rate. This is due to the increase in the incentive compensation expense for more than 85,000 store and corporate employees as a result of the very strong performance throughout the year, and to the investments we've made in the business. These expenses were partially offset by efficiencies and cost savings. As it relates to tax rate impacts in the quarter, the GAAP tax rate was higher than we expected primarily due to tax reform-related items. The non-GAAP tax rate was lower than we expected due to both the change in the effective annual tax rate as a result of tax reform and other discrete items."
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NDAQ | Hot Stocks07:01 EDT Nasdaq, Extroadinary Re sign market technology agreement - Nasdaq and Extraordinary Re signed a new market technology agreement for Nasdaq to deliver matching engine technology via the Nasdaq Financial Framework architecture. Extraordinary Re will deploy this technology through its patented Liquid Insurance Contract risk allocation platform. Extraordinary Re will also operate its system on a private cloud and leverage blockchain technology to transmit flow-through information to its participants. The go-live is targeted for summer 2018.
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CPG | Hot Stocks06:56 EDT Crescent Point Energy still sees 2018 production 183,500 Boe/d - Still sees 2018 capital expenditures of $1.8B, excluding land acquisitions. Sees 2018 exit production of 195,000 boe/d.
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NGL | Hot Stocks06:54 EDT NGL Energy Partners, Magnum Liquids sign joint venture - NGL Energy Partners and Magnum Liquids, along with Magnum Development and other Haddington-sponsored investment entities, have announced the formation of a joint venture to focus on the storage of natural gas liquids and refined products by combining NGL's Sawtooth Storage Facility with Magnum's refined products rights and adjacent leasehold. NGL will sell an interest in Sawtooth to Magnum for $45M in cash due at closing. Magnum will contribute its right, title and interest in certain leasehold and other assets located at the site, which will be utilized to expand Sawtooth' s existing operations and allow for the addition of refined products storage at the facility. NGL will own approximately 67.6% of the joint venture and Magnum will own the remaining 32.4% at closing. Magnum will have an option to acquire an additional 21.6% interest from NGL under similar terms with an additional option to acquire NGL's remaining 46% interest within three years of closing. The initial transaction, which is subject to certain closing conditions, is expected to close by March 31, 2018.
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GPX | Hot Stocks06:52 EDT GP Strategies sees annual savings in excess of $4M from cost reduction plan - The company continues to finalize its cost reduction plan announced in December 2017. Over the last few months, the Company has undertaken various cost-cutting measures to enable the Company to invest in key priorities and to reduce operating expenses. When completed, the company anticipates savings, net of investments, to be in excess of $4M on an annual basis and will see the impact of these reductions predominantly in the second half of 2018.
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BUD | Hot Stocks06:45 EDT AB InBev sees 'strong' revenue, EBITDA growth in FY18 - The company says, "While recognizing volatility in some of our key markets , we expect to continue to deliver strong Revenue and EBITDA growth in FY18 , driven by the solid performance of our brand portfolio and strong commercial plans . Our growth model is now far more focused on category development, and as a consequence, we expect to deliver net revenue per hl growth ahead of inflation based on premiumization and revenue management initiatives , while keeping costs below inflation. We expect a softer 1Q18 as a result of a tough comparable and the phasing of sales and marketing initiatives, but are confident that growth will accelerate for the balance of the year. We maintain our 3.2 billion USD synergy and cost savings expectation on a constant currency basis as of August 2016 . From this total, 547 million USD was reported by former SAB as of 31 March 2016, and 1 586 million USD was captured between 1 April 2016 and 31 December 2017 . The balance of just over 1 billion USD is expected to be captured in the next two to three years."
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ADM | Hot Stocks06:38 EDT Archer Daniels to acquire 50% interest in Aston Foods and Food Ingredients - Archer Daniels Midland announced an agreement to acquire a 50% equity stake in the sweeteners and starches business of Russia-based Aston Foods and Food Ingredients. Under the terms of the agreement, ADM will become 50% owner of Aston's corn wet mills in Ibred and Novlyanka, which are strategically located close to major customers in the Russian food and beverage industry. ADM is targeting a close for the transaction, which is subject to regulatory approval, late in the second quarter of 2018.
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CNQ | Hot Stocks06:37 EDT Canadian Natural sees 2018 production levels 815K-885K Bbl/d of crude oil - Canadian Natural forecasts annual 2018 production levels to average between 815,000 and 885,000 bbl/d of crude oil and NGLs and between 1,650 and 1,710 MMcf/d of natural gas, before royalties. Q1 production guidance before royalties is forecast to average between 821,000 and 869,000 bbl/d of crude oil and NGLs and between 1,600 and 1,650 MMcf/d of natural gas. 2018 capital expenditures are targeted to be approximately $4.3B.
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CNQ | Hot Stocks06:36 EDT Canadian Natural reports Q4 adj EPS C$0.46, may not compare to consensus 29c - Q4 corporate production volumes averaged a record 1,020,094 BOE/d in Q4/17, in-line with Q3/17 levels and a 19% increase from Q4/16 levels. Canadian Natural's corporate crude oil and NGL production volumes averaged 744,100 bbl/d, a decrease of 2% from Q3/17 due to Horizon planned downtime for turnaround and tie-in activities. Crude oil and NGL production volumes increased from Q4/16 by 27% primarily as a result of high reliability and strong production from the Horizon Phase 2B and Phase 3 expansions and a full quarter of production from the AOSP.
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TD | Hot Stocks06:34 EDT Toronto-Dominion raises quarterly dividend 11.7% - The Bank announced a dividend increase of C$.07 per common share for the quarter ending in April, an increase of 11.7%.
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TD | Hot Stocks06:33 EDT Toronto-Dominion reports Q1 Common Equity Tier 1 Capital ratio 10.6% - TD's Common Equity Tier 1 Capital ratio on a Basel III fully phased-in basis was 10.6%, compared to 10.7% last quarter.
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ICAD | Hot Stocks06:30 EDT iCAD granted CE Mark approval in Europe for AI cancer detection solution - iCAD received CE Mark approval for PowerLook Tomo Detection 2.0, the company's second deep-learning based computer aided detection solution. This innovative breast cancer detection solution is compatible with Hologic, GE and Siemens systems. Using a unique algorithm that is trained to detect malignancies and determine the probability of cases having malignant findings, PowerLook Tomo Detection 2.0 provides radiologists with a "certainty of finding" score for each detected lesion.
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FLY | Hot Stocks06:28 EDT Fly Leasing to acquire major aircraft portfolio - Fly Leasing has entered into a definitive agreement with AirAsia Berhad and its subsidiary, Asia Aviation Capital, under which FLY will acquire 54 Airbus narrowbody aircraft and seven CFM engines on lease to AAB and its affiliates, and one Airbus narrowbody aircraft on lease to a third-party airline. In addition, FLY will acquire the option to purchase an additional 20 Airbus A320neo family aircraft, not subject to lease, which begin delivering from the manufacturer in 2019. At the closing of the initial stage of the transaction, FLY will acquire 34 Airbus A320-200 aircraft and seven aircraft engines. In the final stage of the transaction, FLY will acquire the option to purchase an additional 20 Airbus A320neo family aircraft, not subject to lease. AAB will receive approximately $1.0B in cash and 3,333,333 newly-issued FLY shares at $15.00 per share as part of the initial stage of the transaction. The shares acquired by AAB will be subject to lock-up arrangements through 2021. In addition, an affiliate of Onex and the management team of BBAM Limited Partnership will each acquire FLY shares at $15.00 per share, for total consideration of $20M. The transaction is expected to close in Q2 and Q3 of 2018, subject to approval by AAB shareholders, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions.
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AMRN | Hot Stocks06:24 EDT Amarin commences final clinical site visits in REDUCE-IT study - Amarin announced that final study-related visits have commenced for patients enrolled in its REDUCE-IT cardiovascular outcomes study. An important step in completion of this potentially landmark study is to have patients return to their clinical sites for final study data collection. Commencing final patient visits on March 1, 2018 is consistent with the company's estimated schedule of having results of this first of its kind study announced before the end of the third quarter of this year.
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LB | Hot Stocks06:24 EDT L Brands increasing wage rates, benefits, primarily for hourly associates
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LB | Hot Stocks06:24 EDT L Brands sees total February comps up in low to mid single digit range
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CVEO | Hot Stocks06:24 EDT Civeo acquires 400 room accomodation facility in Louisiana for $28M - Civeo has completed the acquisition of a 400 room accommodations facility on 40 acres of land located near Lake Charles, Louisiana from a private seller. The facility is strategically positioned to support the planned construction of several petrochemical and LNG projects anticipated along the U.S. Gulf Coast. The asset is currently under contract with a large petrochemical company, providing contracted revenue visibility through mid-2019. Total consideration for the transaction is $28M, composed of $23.5M of cash and $4.5M of Civeo common equity issued to the seller. The agreement also includes an earnout up to $4M of Civeo common equity dependent on further contracted revenues through December 2020. For the ten months remaining in 2018, the facility is expected to generate approximately $7M in revenue and $6M in gross profit.
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LB | Hot Stocks06:23 EDT L Brands sees FY18 SSS up 2%-4%, sales about 2 points higher than comps
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LB | Hot Stocks06:23 EDT L Brands sees Q1 SSS up in LSD range, sales about 5 points higher than comps - L Brands said in commentary and presentation slides ahead of its Q4 earnings conference call that following an extensive evaluation of its wage rates by market, it is making investments in its workforce by increasing wage rates and benefits, principally for hourly associates. "These investments will help us continue to attract and retain high-quality talent and be an employer of choice," the company said. The impact of these investments is approximately $100M in 2018. Sees total company February comp up in the low-to-mid-single digit range, consisting of a low-single digit increase at Victoria's Secret and a mid-single digit increase at Bath & Body Works. It expects the total company merchandise margin rate to be down in February. L Brands sees Q1 comps up in the low-single digit range. Sales in the first quarter will be about 5 points higher than comps, driven by square footage growth and a point each from the Angel card income reclassification and the calendar shift as a result of the extra week in 2017. For FY18, the company is projecting comps to be up 2 to 4%. Total sales growth will be about 2 points higher than comps due to growth in square footage and international and the reclassification of Angel card income, offset by the extra week in 2017. The company sees its FY18 tax rate at about 27% vs. 32.3% in FY17.
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SVM | Hot Stocks06:22 EDT Silvercorp Metals updates share buyback program - Silvercorp Metals has acquired to date 1,717,100 of its common shares at an average price paid per common share of C$3.07 through the facilities of the TSX, pursuant to its normal course issuer bid announced November 23, 2017. All common shares acquired in the Buyback Program will be cancelled.
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SNY | Hot Stocks06:14 EDT Sanofi receives antitrust clearance in connection with Ablynx acquisition - Sanofi announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired and that Sanofi has received clearance from the Federal Cartel Office of Germany in accordance with the Act Against Restraints of Competition, applicable to Sanofi's proposed acquisition of Ablynx NV. The consummation of the Offers remains subject to other conditions, including the tender of shares representing at least 75% of the outstanding shares of Ablynx at the end of the initial acceptance period. The Offers have not yet commenced. The Offers are still expected to be launched by the beginning of the second quarter 2018.
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VET | Hot Stocks06:13 EDT Vermilion Energy raises 2018 production view to 75K-77.5K Boe/d - Previous production guidance was 74,500-76,500 boe/d. Increases 2018 capital guidance to $325M from $315M.
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VZ | Hot Stocks06:12 EDT Verizon, Straight Path pay $614.3M civil penalty to FCC - The FCC announced that Straight Path Communications and Verizon Communications have paid a civil penalty of over $600M to the U.S. Treasury in connection with a January 2017 settlement that Straight Path entered into with the Commission's Enforcement Bureau-prior to the sale and transfer of its licenses to Verizon. This payment is the largest civil penalty ever paid to the U.S. Treasury to resolve a Commission investigation. The settlement resolved an investigation into allegations that Straight Path failed to use the spectrum it was awarded, and thus violated the Commission's buildout and discontinuance rules in connection with approximately 1,000 licenses in certain millimeter wave spectrum bands. These high frequency bands have been identified by the Commission for use in the next generation evolution of wireless technology or 5G. The settlement required Straight Path to sell its licenses and remit 20 percent of the overall proceeds of the transaction to the U.S. Treasury. Verizon and Straight Path entered into an agreement on May 11, 2017 to transfer the licenses, and on January 18, 2018, the Commission's Wireless Telecommunications Bureau approved the transfer. Straight Path and Verizon paid $614.3M to the U.S. Treasury to satisfy the terms of the consent decree. This payment is in addition to $15 million that Straight Path previously paid to the U.S. Treasury, and its earlier relinquishment of 196 -- approximately 20% -- of its licenses to the Commission that were not included in its transaction with Verizon.
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LUXTY | Hot Stocks06:08 EDT Luxottica, Essilor deal approved by European Comission - The European Commission has approved under the EU Merger Regulation the proposed merger between Essilor and Luxottica, two leaders in the optical industry. The Commission concluded that the merger would not adversely affect competition in the European Economic Area or any substantial part of it.
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