Stockwinners Market Radar for July 18, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
NDLS... | Hot Stocks19:08 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Noodles & Co (NDLS) up 5.5%... IBM (IBM) up 2.8%... Berkshire Hills (BHLB) up 2.6%. ALSO HIGHER: Colgate Palmolive (CL) up 1.8% after upgrade at UBS... eGain (EGAN) up 1.5% after being initiated at Buy at Needham. DOWN AFTER EARNINGS: eBay (EBAY) down 5.6%... Crown Castle (CCK) down 3.6%... PTC (PTC) down 2.8%... American Express (AXP) down 2.7%... United Rentals (URI) down 1.7%... Alcoa (AA) down 1.6%. ALSO LOWER: Sportsman's Warehouse (SPWH) down 5.0% after equity offering... Sunrun (RUN) down 2.6% after Goldman Sachs downgrade... Clorox (CLX) down 1.2% after being initiated at Sell at UBS.
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OMAB | Hot Stocks18:40 EDT OMA Airports reports Q2 passenger traffic up 9.6% - OMA generated a 25.7% increase in Adjusted EBITDA in 2Q18, with an Adjusted EBITDA margin of 70.5%. Aeronautical and non-aeronautical revenues rose a combined 16.0%, on a 9.6% increase in total passenger traffic volumes. Aeronautical revenues rose 17.6%, as a result of higher traffic volumes and the increase in tariffs implemented in January 2018. Non-aeronautical revenues grew 11.3%, led by growth in the car rental, OMA Carga, and parking line items.
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SBGI TRCO | Hot Stocks18:26 EDT FCC votes unanimously to adopt hearing order on Sinclair-Tribune deal - This evening, the Federal Communications Commission unanimously voted to adopt a Hearing Designation Order regarding the Sinclair (SBGI)/Tribune (TRCO) transaction. The Commission expects the Order will be released publicly tomorrow. Reference Link
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MCD | Hot Stocks18:06 EDT McDonald's partners with Uber Eats for clothing, accessory offers - McDonald's is partnering with Uber Eats to give away '90's-inspired clothing items and accessories to McDelivery customers around the world. Items offered around the world include a fresh denim jacket with patches, Big Mac hip pack and World Famous Fries bandana. Details on which items are available in which countries as well as how to get them are available at McDeliveryatMcDonalds.com. "We have made significant progress expanding delivery to more customers around the globe, making it even easier to enjoy those delicious feel good moments McDonald's provides," said McDonald's Senior Vice President, Corporate Strategy and Business Development, Lucy Brady. "Our second Global McDelivery Day celebrates our commitment to continue bringing people together by delivering food, fun and memorable experiences."
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IBM | Hot Stocks17:56 EDT IBM says its well in advance of its prior cycle - Sees continued momentum in mainframe. Says IBM is well in advance of prior cycle. Sees momentum in services business. Sees one to two point second half headwind in currency. Says global business services is integral part of IBM with mission of combining business and technology transformation.
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AXP | Hot Stocks17:45 EDT American Express says NII growth should moderate
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CENX AA | Hot Stocks17:44 EDT Century Aluminum falls after peer Alcoa cuts EBITDA view - Shares of Century Aluminum (CENX) are falling nearly 3% to $14.48 per share in after-hours trading after aluminum peer Alcoa (AA) said it is reducing its adjusted earnings before interest, tax, depreciation and amortization, EBITDA, view for FY18, citing U.S tariffs on imported aluminum.
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DISCA DISCK | Hot Stocks17:33 EDT Discovery extends contract for president, CEO David Zaslav - Discovery announced the extension of President and CEO David Zaslav's employment contract through the end of 2023. The contract extension provides ongoing management continuity and stability and ensures Zaslav's continued leadership for the next five and a half years. Term of employment is through December 31, 2023, continuing to make Zaslav a significant, long-term shareholder in Discovery. Zaslav has committed to hold the majority of his equity from stock grants to term, furthering the alignment of shareholder and management interests.
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AXP | Hot Stocks17:32 EDT American Express says 'pleased' with revenue performance to date
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IRDM | Hot Stocks17:29 EDT Van Berkom reports 4.9% passive stake in Iridium
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EBAY | Hot Stocks17:28 EDT eBay says significant product changes scheduled for 2H18 - Says will "continue to market aggressively, light up the brand" in 2H18.
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AXP | Hot Stocks17:26 EDT American Express: Over 60% of loan growth in Q2 came from existing customers - Says over 60% of loan growth came from existing customers. Says company saw strong spending in Japan, Australia, and the U.K. in the quarter. Comments taken from Q2 earnings conference call.
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EBAY | Hot Stocks17:24 EDT eBay says strong U.S. dollar to negatively impact FY18 revenue - Sees FY18: tax rate 17%-20%; share repurchases of $3.5B; free cash flow at low end of $2.1B-$2.3B; CapEx 6%-8% of revenue.
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RESN | Hot Stocks17:17 EDT Resonant engages LHA for strategic investor relations services - Resonant announced it has partnered with LHA Investor Relations, a strategic investor relations agency, to manage the company's investor relations program."We are excited to be partnering with LHA in our investor relations effort as we enter this new chapter, beginning the ramp of royalty revenues and expanding our efforts to continue the company's growth," said George B. Holmes, CEO of Resonant. "LHA's expertise and network will enable us to build upon our existing IR strategy with a continued focus on broadening our set of institutional investors and raise Resonant's visibility, expanding awareness in the investment community as we continue our drive to increase shareholder value." LHA Investor Relations Partner John Heilshorn said: "Resonant is a disruptor in the RF front-end market with both an innovative technology and business model. We are pleased to be working with the team."
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KMI | Hot Stocks17:16 EDT Kinder Morgan CEO Steve Kean comments on Kinder Morgan Canada Limited - Kinder Morgan CEO Steve Kean said on the company's Q2 earnings conference call, "So turning to KML, the big news in the quarter of course is the C$4.5B Trans Mountain sale transaction. As we said at the time of the announcement, the sales price amounts to about C$12 per KML share. And on top of that, we have a strong set of remaining midstream assets in an entity with very limited debt and with opportunities for continued investment in expansion as well as the potential for a strategic combination. We are laser-focused right now on closing this transaction, and that process is going well. Now the KML board will be reviewing these alternatives, and we'll provide further guidance on that as we advance the transaction to close, again also consistent with what we said the day that we announced the transaction. As pointed out in the press release, while all options are on the table, we generally don't view it as attractive to KML shareholders for us to sit on a big pile of cash while management hunks around for a transaction to use it on. So we're strongly indicating there, I think, that we're going to look for the best alternative for KML shareholders, and that's what we're going to with the KML board."
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IBM | Hot Stocks17:15 EDT IBM says Q2 revenue performance was driven by security and cloud segments - Says Q2 revenue performance was driven by security and cloud. Says signed $100M in services deals in Q2. Says saw growth in underlying analytics program and Watson Assistant. Comments taken from Q2 earnings conference call.
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IWSY | Hot Stocks17:15 EDT ImageWare extends global reach into Japanese market with TwoFive pact - ImageWare Systems announces a distribution and integration partnership with leading security solutions provider TwoFive, which includes an initial modest order.TwoFive, Inc. develops end-to-end solutions for the Japanese service provider community as well as distributes messaging security solutions. Weak or stolen credentials are the leading cause for data breaches and information loss. TwoFive's partnership with ImageWare brings GoVerifyID to the service provider community and beyond to remove this risk from an ever changing and more complex security landscape. ImageWare's Senior Vice President Global Sales and Marketing, David Somerville, commented, "Our expanding commitment to the Japanese and Asia Pacific markets are evidenced by our TwoFive partnership and opening of the ImageWare office in the Marunouchi district Tokyo, and the appointment of Japan-based Vice President Sales for Asia Pacific, Stuart Folo." Nobuhiro Suemasa, CEO of TwoFive, Inc., added, "The strategy of many organizations in Japan and abroad is a reliance on the ongoing strength of a password to protect mission critical assets such as databases and applications. Continued breaches in enterprises of all sizes shows that the Japanese market continues to be exploited and the only way to secure these assets is by identifying the user at the time of authentication or transaction through multi-factor biometrics. We are excited to integrate, distribute and support the industry's best of breed platform for multi-factor biometrics with ImageWare."
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LMT | Hot Stocks17:15 EDT Lockheed Martin awarded $164M U.S. Department of Defense contract modification - Lockheed Martin Missiles and Fire Control is being awarded a $164,000,000 contract modification to previously awarded, sole-source, cost-plus-incentive-fee, cost-plus fixed-fee, firm-fixed-price, indefinite-delivery/indefinite-quantity contract, HQ0147-10-D-0001, for the Terminal High Altitude Area Defense Field Support Contract. This modification will increase the total ceiling value from $561,000,000 to $725,000,000. The contractor will continue to perform the same effort under the general scope of the TFSC which includes logistics performance requirements, forward stationing for theater support, logistics information capabilities, post deployment software support, product assurance, safety, missile support, security and engineering services. This modification will also incorporate the International Engineering Services Program and Field Surveillance Program activity. The work will be performed in Huntsville, Alabama; Sunnyvale, California; Grand Prairie, Texas; and Troy, Alabama. The ordering period remains from March 25, 2010, through March 31, 2019.
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SWK | Hot Stocks17:14 EDT Stanley Black & Decker raises quarterly dividend 3c to 66c per share - Stanley Black & Decker announced that its board of directors approved a 3c increase of its quarterly cash dividend to 66c per common share. This marks the 51st consecutive annual dividend increase for the company. The dividend is payable on Tuesday, September 18, 2018 to shareholders of record as of the close of business on Friday, September 7, 2018.
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BA | Hot Stocks17:14 EDT Boeing awarded $264M U.S. Department of Defense contract - Boeing was awarded a maximum $264,000,000 indefinite-delivery/indefinite-quantity contract for engineering support services for the MH-47 helicopter in support of U.S. Special Operations Command. This requirement will furnish all labor, services, personnel, data, transportation, equipment, facilities and materials required to accomplish the work and perform engineering tasks. Contract funds will not expire at the end of the current fiscal year. The first task order of the contract in the amount of $120,497 is funded with fiscal 2017 procurement funds and is multiyear.
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TAC | Hot Stocks17:13 EDT TransAlta retires Sundance Unit 2 - TransAlta announced that, effective July 31, 2018, it will retire the currently mothballed Sundance Unit 2 due to its shorter useful life relative to other units, age, size, and the capital requirements needed to return the unit to service.
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IWSY | Hot Stocks17:13 EDT ImageWare provides interim sales update - ImageWare Systemst provided an interim sales update.Three ImageWare partners have made the following sales: "Our largest partner - To a Canadian financial institution which will utilize our multi-modal biometrics initially for its employees. CDW - To a Philadelphia-based credit union and a New York-based financial services company, both of which will initially utilize multi-modal biometric security for their respective employees.For these partner sales ImageWare generates revenue on a per user/per month basis.Four Points Technology LLC - received a multi-year $3.6 million award from the Veteran's Administration (VA) for biometric licensing and support. ImageWare had direct sales totaling approximately $280,000 to existing US law enforcement agency customers for new projects.Jim Miller, Chairman and CEO of ImageWare said that, "Our vendor-neutral, open-architected and patented ImageWare Biometric Engine platform provides government agencies and commercial enterprises with extremely flexible capabilities to meet any new business requirements. "The two sales to existing customers is a validation of the value proposition of our biometric products. These three new customers, brought to us through partners, are just the tip of the iceberg of business that we see entering the final stages of the sales cycle," concluded Miller.
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MWA | Hot Stocks17:13 EDT Mueller Water names Steven Heinrichs chief compliance officer - Mueller Water Products, Inc. announced that its board of directors has appointed Steven S. Heinrichs as Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary, effective August 8, 2018. Heinrichs will report to Mueller Water Products President and Chief Executive Officer, Scott Hall.
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EBAY | Hot Stocks17:12 EDT eBay says expects core GMV growth acceleration in 2H18 - Says stopping work on speculative projects. Says moving more customer service in house. Says making "good progress" on managed payments service. Sees strong earnings growth in 2H18. Comments from Q2 earnings conference call.
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CCK | Hot Stocks17:05 EDT Crown Holdings reports Q2 global beverage can volumes up 4% - Income from operations was $292M in the quarter compared to $259M in the second quarter of 2017. Segment income increased to $389M in the second quarter compared to $295M in the prior year second quarter primarily due to the Signode acquisition. CEO Timothy J. Donahue stated, "We performed well in the second quarter. We saw solid gains in global beverage can shipments and excellent operating results in our European Food and newly-acquired Transit Packaging businesses. Global beverage can volume growth of over 4% was propelled by strong demand in Brazil, North America and Southeast Asia. This strong operational performance was somewhat offset by macroeconomic headwinds from elevated freight costs in North America and foreign currency losses in Brazil due to the strength of the U.S. dollar. We have revised our full year outlook with the expectation that elevated freight costs and the strength of the dollar will continue for the remainder of the year. "
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KMI | Hot Stocks17:05 EDT Kinder Morgan declares 20c per share Q2 dividend - Kinder Morgan announced that its board approved a cash dividend of 20c per share for Q2 payable on August 15 to common stockholders of record as of the close of business on July 31. This is a 60% increase from last year's Q4 dividend, and is consistent with the plan KMI announced during the summer of 2017. KMI continued to fund all growth capital through operating cash flows with no need to access capital markets for that purpose.
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WLTW | Hot Stocks17:05 EDT Willis Towers Watson extends contract of CEO Haley until 2021 - Willis Towers Watson announced that its Board of Directors has extended the contract of its Chief Executive Officer, John Haley, until January 1, 2021. "We are pleased to retain John Haley's leadership as CEO of Willis Towers Watson," said James McCann, chairman of the Board, Willis Towers Watson. "Over the last several years, the company has made tremendous progress and delivered on many of the expectations of the merger. The Board is pleased with our momentum and sees a vibrant future ahead." John Haley has been with the company since 1977 and was named CEO in 1998.
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ATR | Hot Stocks17:00 EDT AptarGroup raises quarterly dividend to 34c from 32c per share - The payment date is August 22, 2018, to stockholders of record as of August 1, 2018.
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NDLS | Hot Stocks16:59 EDT Noodles & Company jumps 5.5% in after-hours after quarterly results, outlook
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HMSY | Hot Stocks16:59 EDT Van Berkom and Associates reports 4.61% passive stake in HMS Holdings
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LZB | Hot Stocks16:51 EDT La-Z-Boy to acquire Arizona La-Z-Boy furniture galleries stores - La-Z-Boy Incorporated announced it intends to acquire the Arizona La-Z-Boy Furniture Galleries( stores, which compose the largest-volume licensee operator within the 350-store network, from EBCO, Inc., owned by Edward O. Breunig, III, an independent dealer. Based on calendar-year 2017 revenue, the EBCO organization ranks 77th in Furniture Today's Top 100 U.S. Furniture Stores listing, published in May 2018. It was also named one of the Top Companies to Work for in Arizona in 2018, by AZ Central, a USA Today publication. Included in the acquisition are six stores in the Phoenix metropolitan area, two stores in the Tucson market, and one store in Prescott. The stores had combined calendar 2017 revenue of $78M. The acquisition will provide continuity for the highly successful Arizona-based business and its employees following the planned retirement of the independent dealer. The nine stores will become part of the La-Z-Boy retail segment and will bring the total company-owned store count to 155. The transaction is expected to close in August 2018, subject to customary closing conditions. Terms of the deal were not disclosed. La-Z-Boy will supply financial information relating to the transaction when it reports its fiscal 2019 first-quarter results in August.
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ESRT | Hot Stocks16:48 EDT Empire State Realty signs long term leases with Maui Onion Poke Bar in NYC - Empire State Realty Trust has signed long-term leases with Maui Onion Poke Bar at 501 Seventh Avenue and Made Man Barbershop at 1400 Broadway. Maui Onion delivers authentic Hawaiian dishes crafted with fresh ingredients to customers on-the-go. Made Man Barbershop, the trendy men's hairstylist recently featured in GQ, Vanity Fair, New York Times, and Men's Health, blends the classic comforts of the past with the contemporary hairstyling of today.
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WPZ | Hot Stocks16:46 EDT Williams Partners says Atlantic Sunrise project on track for service this summer - Williams Partners reported that construction is nearing completion on the Atlantic Sunrise pipeline project - a critical expansion of the existing Transco natural gas pipeline to connect abundant Marcellus gas supplies with markets in the Mid-Atlantic and Southeastern U.S. The project sponsors report that the project is targeted for mechanical completion beginning in August 2018, with full service (1.7B cubic feet per day) anticipated to commence in the second half of August 2018, assuming timely receipt of the remaining regulatory approvals. A portion of the mainline component of the project (550 million cubic feet per day) has already been placed into service. The mechanical completion date is based upon current contractor schedules and may be affected by weather. Greenfield construction on the Pennsylvania portion of the project began in September 2017. The project has featured the installation of approximately 200 miles of large diameter pipeline, two greenfield compressor stations and compressor station modifications in five states. The segment of the project known as the Central Penn Line will be jointly owned by Transco and a third party.
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DVN... | Hot Stocks16:40 EDT Devon completes sale of interest in EnLink for $3.125B to GIP - Devon Energy (DVN) announced it has completed the sale of its ownership interests in EnLink Midstream Partners (ENLK) and EnLink Midstream (ENLC) for $3.125B to affiliates of Global Infrastructure Partners GIP, a leading global, independent infrastructure fund manager. With the closing of this transaction, the financial results of EnLink Midstream will no longer be consolidated with Devon's upstream business and historical results related to EnLink will be presented as discontinued operations in the company's consolidated financial statements. Devon will provide pro forma financial statements for its upstream business in a separate Form 8-K filing in the near future. As previously announced, in conjunction with the EnLink transaction, Devon's board of directors has authorized an increase in the company's share-repurchase program to $4B. With this increased authorization, the company plans to utilize an accelerated share-repurchase program and will provide additional details on this initiative within its second-quarter earnings materials.
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MDXG | Hot Stocks16:35 EDT MiMedx appoints Mark Graves as Chief Compliance Officer - MiMedx Group has appointed Mark P. Graves to the position of Chief Compliance Officer. Graves will be responsible for providing direction and oversight of MiMedx's compliance program, including the company's regulatory and legal compliance matters related to the company's risk management, sales operations and financial reporting. Graves most recently was the U.S. leader for the global Patient Experience & Value function in the neurology division of UCB, a biopharmaceutical company. From 2011 to 2015, he was UCB's Deputy Compliance Officer.
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MTLS BASFY | Hot Stocks16:32 EDT BASF to invest $25M in Materialise to partner on 3D printing technologies - BASF (BASFY) is expanding its cooperation with Materialise (MTLS). At the same time, BASF has agreed to invest $25M in the Belgian company, which is headquartered in Leuven. The two partners are working together within the framework of an open business model to continuously improve materials and software for various 3D printing technologies and bring them more rapidly to the market. The companies are focusing on applications in the consumer goods sector and in the automotive and aviation industries. The agreement allows for systematic, wider scale testing and further optimization by BASF of its materials on the machines and within the infrastructure of Materialise.
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RDN | Hot Stocks16:31 EDT Radian finalizes settlement with IRS over 2000-2007 examination - Radian Group Inc. announced that it has finalized a settlement with the Internal Revenue Service related to the IRS's examination of Radian's 2000 through 2007 consolidated federal income tax returns. Under the terms of the settlement, which remain subject to U.S. Tax Court approval, Radian is expected to submit $31M of its $89M qualified deposit to the U.S. Treasury. Radian expects to realize tax benefits of approximately $74M, which includes both the impact of the settlement with the IRS as well as the reversal of certain previously accrued state and local tax liabilities. The company estimates that the settlement and related tax benefits will result in an increase to Radian's net income per share of 34c and book value per share of 35c, in the second quarter of 2018. In addition, the impact of the settlement is expected to decrease total available holding company liquidity by approximately $31M. This settlement will not impact adjusted diluted net operating income per share.
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AMGP | Hot Stocks16:29 EDT Antero Midstream GP increases cash distribution 16% to 12.5c per share - Antero Midtream GP declared a distribution of 12.5c per share, 50c per share annualized, for Q2. The distribution represents a 165% increase compared to the prior year full quarter, non-pro-rated, and a 16% increase sequentially. The distribution will be payable on August 22 to shareholders of record as of August 2.
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AM | Hot Stocks16:28 EDT Antero Midstream Partners increases cash distribution 6% to 41.5c per unit - Antero Midstream Partners declared a cash distribution of 41.5c per unit, $1.66 per unit annualized, for Q2. The distribution represents a 30% increase compared to the prior year quarter and a 6% increase sequentially. The distribution will be payable on August 17 to unitholders of record as of August 2.
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RLI | Hot Stocks16:25 EDT RLI Corp. reports Q2 underwriting income of $14.1M vs. $19.7M last year - RLI achieved $14.1M of underwriting income in the second quarter of 2018 on a 92.8 combined ratio, compared to $19.7M of underwriting income on an 89.3 combined ratio in the same quarter for 2017.
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PLXS | Hot Stocks16:24 EDT Plexus CEO 'optimistic' about further revenue growth - Plexus CEO Todd Kelsey said, "As we look forward to fiscal 2019, we are optimistic we will achieve further revenue growth, while also improving our margin performance, as we gain operating and fixed cost leverage from programs that are fully ramped into production. Further, we anticipate that improved operating efficiency, in conjunction with our share repurchase program, will result in meaningful EPS leverage."
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FLO | Hot Stocks16:22 EDT Flowers Foods issues voluntary recall on Swiss roll and bread brands - Flowers Foods is voluntarily recalling Swiss Rolls sold under the brand names Mrs. Freshley's, Food Lion, H-E-B, Baker's Treat, Market Square, and Great Value, distributed nationwide, and Captain John Derst's Old Fashioned Bread distributed in Alabama, Florida, Georgia, North Carolina, and South Carolina, as a precautionary measure due to the potential presence of Salmonella in an ingredient, whey powder. The ingredient recall was initiated by a third-party whey powder manufacturer and supplier. No illnesses have been reported in connection with the recalled items. Salmonella is an organism that can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems.
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THS | Hot Stocks16:21 EDT TreeHouse announces plans to close Omaha, Nebraska office - TreeHouse Foods announced that it plans to close its office in Omaha, Nebraska by January 31, 2019. The decision to close the Omaha office is part of the company's previously announced TreeHouse 2020 multi-year restructuring program to reduce its cost structure through simplification and to align the operations with the current and future needs of the business. The Omaha office closure will affect approximately 200 employees. The related work content will be consolidated into the company's existing facilities in Green Bay, Wisc. and Oak Brook, Ill. TreeHouse is committed to a smooth transition and will provide affected employees with separation pay and outplacement assistance. Costs associated with the office closure are expected to be incurred primarily over the next three quarters, and will total approximately $6M, or 8c per share, most of which is anticipated to be in cash.
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EBAY | Hot Stocks16:20 EDT eBay drops 3% in afterhours trading after Q2 report, Q3 guidance
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CE | Hot Stocks16:20 EDT Celanese to sell ethanol production unit to Chengzhi, terms not disclosed - Celanese Corporation announced that it has signed a Letter of Intent with Chengzhi Shareholding Co., Ltd., to further the development of acetic acid-based ethanol as a clean energy source in China. From 2014 to 2017, Celanese operated a 275,000 metric ton per year industrial ethanol unit at the Nanjing, China Chemical Industrial Park. This ethanol unit used Celanese's TCX technology to produce ethanol and historically sourced feedstock from the company's acetic acid plant co-located at its Nanjing manufacturing facility. Pursuant to the LOI, Celanese would sell its Nanjing ethanol unit to Chengzhi, along with all related assets, including equipment, storage tanks and pipelines as well as all necessary land rights and permits. Additionally, Celanese would contribute its TCX technology, along with all associated patents, know-how and trade secrets, into a newly formed joint venture. Through this joint venture the two companies would collaborate to further strengthen the TCX technology and promote additional opportunities for utilizing the TCX ethanol process technology within the People's Republic of China. The LOI announced today is subject to the parties reaching definitive agreements. The two companies are also committed to working together to implement a smooth transition leading to a restart of the Nanjing ethanol unit as soon as possible, likely in 2019. Financial terms and conditions are not being disclosed at this time.
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EBAY | Hot Stocks16:19 EDT eBay reports Q2 active buyers by 4% - In the second quarter, eBay grew active buyers by 4% across its platforms, for a total of 175M global active buyers. Underlying total eBay Inc. performance, the Marketplace platforms delivered $2.1B of revenue and $22.6B of GMV. Marketplace revenue growth was 9% on an as-reported basis and 6% on an FX-Neutral basis, and GMV was up 11% on an as-reported basis and 7% on an FX-Neutral basis. StubHub drove revenue of $246M, up 4% on an as-reported basis and 3% on an FX-Neutral basis, and GMV of $1.1B, up 5% on both an as-reported and FX-Neutral basis. Classifieds platforms delivered revenue of $259M, up 18% on an as-reported basis and 10% on an FX-Neutral basis.
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BMI | Hot Stocks16:19 EDT Badger Meter president says he remains optimistic about remainder of 2018 - Kenneth C. Bockhorst states: "We remain optimistic about the remainder of the year for a number of reasons, including a sizable backlog, continued interest in our flagship products and the recent moderating of copper prices. Our opportunities for 2019 and beyond include Phyn, a joint venture between Belkin International, Inc. and Uponor Corporation, which utilizes our D-Flow(R) ultrasonic technology in a smart water monitoring system for residential use. Our ORION Cellular products will be ready with LTE-M chips in the first quarter of 2019. These are the next generation chips for business-to-business cellular communications, allowing us to provide additional features for our customers while also improving our cost position. And our inclusion in AT&T's Smart City Alliance will allow us to explore new ways our smart water solutions can join forces with their industry-leading cellular networks to help water utilities better benefit from smart water metering solutions. We believe the ongoing acceptance of our products, continued operational efficiencies and an unrelenting eye on innovation bodes well for our future."
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CYH | Hot Stocks16:18 EDT Community Health to sell Sparkshealth System to Baptist Health - Community Health Systems, Inc. announced that subsidiaries of the company have signed a definitive agreement to sell the two-hospital Sparks Health System and related businesses, including physician clinic operations and outpatient services, to Baptist Health in Little Rock, Ark. The transaction is expected to close in the fourth quarter of 2018, subject to customary regulatory approvals and closing conditions.
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HF | Hot Stocks16:17 EDT HFF Inc. announces sale of Burnham Pointe in Chicago, terms not stated - Holliday Fenoglio Fowler, L.P. announces the sale of Burnham Pointe, a 298-unit high-rise apartment property in Chicago's South Loop. The HFF team advised on the transaction between the seller, Crescent Heights, and the buyer, a joint venture between Draper and Kramer, Incorporated and Intercontinental Real Estate Corporation. The property was purchased free and clear of existing financing.
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LIND | Hot Stocks16:17 EDT Lindblad Expeditions plans to build new polar expedition ship - Lindblad Expeditions announced that its Board of Directors has authorized the building of a new polar expedition ship. This state-of-the-art vessel, which is anticipated to be delivered in 2021, will be the next phase of Lindblad's fleet expansion following the launch of the National Geographic Quest in July 2017, the addition of the National Geographic Venture in December 2018 and the delivery of the National Geographic Endurance in the first quarter of 2020.
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HRZN | Hot Stocks16:17 EDT Horizon Technology leads $10M loan facility for MacuLogix - Horizon Technology has led a $10M loan facility for MacuLogix. Horizon funded an initial $3.75M of its commitment under the Term Loan Facility and Silicon Valley Bank funded $1.25M of its commitment under the Term Loan Facility. SVB also provided a $3M senior revolving line of credit to MacuLogix. MacuLogix, a medical device company in the optometry and ophthalmology industry, is the maker of the AdaptDx automated dark adaptometer, a device that measures retinal function to diagnose age-related macular degeneration, the leading cause of irreversible blindness in adults, three years before it is clinically evident. MacuLogix is backed by leading investors, including Roche Ventures, Fisk Ventures and Life Sciences Greenhouse of Central Pennsylvania. MacuLogix will use the proceeds for general working capital purposes.
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CCJ | Hot Stocks16:17 EDT Cameco says 'too early' to speculate on impact from 232 probe into uranium - Cameco responded to the decision by the United States Department of Commerce to launch an investigation into whether the quantity and circumstances of foreign uranium imports into the US threaten to impair national security. The announcement by Commerce Secretary Wilbur Ross triggers an investigation that could take up to 270 days to complete. A report will then be provided to the President of the United States containing the DOC's findings and recommendations, if warranted. The President then has up to 90 days to decide whether to concur with the DOC findings and what actions, if any, will be taken in response."It's too early to speculate on what effect this investigation could have on Cameco or our Canadian and US operations," Cameco's President and CEO Tim Gitzel said. "We will need to see what the investigation finds, if any trade action is recommended, and what specific remedies might be pursued before the potential impact, positive or negative, can be determined." There will be no immediate impact on Cameco's existing contracts, and deliveries to our US utility customers will continue as usual.
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BMI | Hot Stocks16:17 EDT Badger Meter reports Q2 gross margin 36.5% vs. 39.4% last year - Gross profit margin was 36.5% in the second quarter of 2018 compared to 39.4% in the second quarter of 2017. Higher healthcare expenses and brass costs continued to provide some headwinds. In addition, the second quarter included a greater mix of lower margin international water meter sales. Selling, engineering and administration expenses were higher in the second quarter, primarily due to higher healthcare expenses, higher selling costs and continued investments in research and development.
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HBAN | Hot Stocks16:16 EDT Huntington Bancshares raises quarterly dividend 27% to 14c from 11c per share - The common stock cash dividend is payable October 1 to shareholders of record on September 17.
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AA | Hot Stocks16:12 EDT Alcoa cuts FY18 adjusted EBITDA view to $3B-$3.2B from $3.5B-$3.7B - The new full-year forecast reflects current market prices, tariffs on imported aluminum, increased energy costs, and some operational impacts.
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AXP | Hot Stocks16:12 EDT American Express says resuming buybacks this quarter - Q2 consolidated total revenues net of interest expense were a record $10.0B, up 9% from $9.2 billion a year ago. The increase reflected higher spending by consumer, small business, and corporate Card Members. Revenues for the quarter also benefitted from higher loan volumes and fee income. Stephen Squeri, AmEx chairman and CEO, said, "Revenue growth was driven by broad-based increases in Card Member spending and fees. It also reflected the benefit of higher loan volumes, which that spending helped to generate. With total Card Member spending up 10 percent and 2.9 million new cards acquired, we are both strengthening relationships with current customers and attracting new ones through innovative products and services. We continued our progress towards parity coverage in the U.S., expanded our network internationally and announced new card offerings with three important business partners - Amazon, Marriott, and Wells Fargo. Our disciplined control of operating expenses, combined with revenue growth, gave us the flexibility to make substantial investments in our global brand campaign, additional customer benefits, and digital capabilities that will help to grow our business over the long term. After completing this year's Federal Reserve stress test, we received a green light to increase the quarterly dividend and are resuming our share buybacks this quarter."
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AA | Hot Stocks16:11 EDT Alcoa cuts FY18 adjusted EBITDA view to $3B-$3.2B from $3.5B-$3.7B
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AXP | Hot Stocks16:10 EDT American Express reaffirms FY18 EPS view at high-end of $6.90-$7.30 view - FY18 EPS consensus $7.24. Sees FY18 revenues to be up at least 9%, consensus $40.29B.
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PTC | Hot Stocks16:08 EDT PTC advances transition to subscription business model - PTC announced a milestone in its global transition to a subscription business model. Effective January 1, 2019, new software licenses for PTC's core solutions and ThingWorx Industrial Innovation Platform will be available only by subscription globally, including in the following previously omitted countries: China, India, Korea, Russia, Taiwan, and Turkey. Customers will be able to continue to use their existing perpetual licenses and renew support on active perpetual licenses under PTC's support policies. With subscription licensing, customers benefit from faster PTC software innovation cycles, a shared commitment to success, and increased flexibility in product license mix. In addition, PTC currently offers incentive programs to enable customers to convert existing perpetual licenses to subscription licenses, affording them access to the benefits of the subscription model across their entire PTC software footprint.
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ICFI | Hot Stocks16:07 EDT ICF International awarded infrastructure contract by LA County Public Works - ICF has been selected by the Los Angeles County Department of Public Works for a new contract to provide on-call environmental compliance, mitigation and community outreach services to support a broad range of water resources infrastructure projects. The contract has a multimillion dollar ceiling value and a term of four years, including one three-year base and a one-year option.
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IBM | Hot Stocks16:05 EDT IBM says strategic imperatives revenue was $39B over last 12 months - Strategic imperatives revenue over the last 12 months was $39.0 billion, up 15 percent (up 12 percent adjusting for currency). Total cloud revenue over the last 12 months was $18.5 billion, up 23 percent (up 20 percent adjusting for currency), with $8.2 billion from hardware, software and services to enable IBM clients to implement hybrid cloud solutions across public, private and multi-cloud environments, and $10.4 billion delivered as a service. The annual exit run rate for as-a-service revenue increased in the quarter to $11.1 billion, up 26 percent (up 24 percent adjusting for currency). In the second quarter, revenues from analytics increased 7 percent to $5.4 billion (up 5 percent adjusting for currency); revenues from mobile increased 5 percent to $1.3 billion (up 3 percent adjusting for currency); and revenues from security increased 81 percent to $1.0 billion (up 79 percent adjusting for currency).
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CP | Hot Stocks16:03 EDT Canadian Pacific reports Q2 volumes up 4%, carloads up 2%
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PTC | Hot Stocks16:03 EDT PTC reports Q3 deferred revenue $1.21B, up 33% - Third quarter license and subscription bookings were $113 million and subscription mix was 78%. Total deferred revenue, billed and unbilled, was $1.21 billion, an increase of 33% from the same period last year. Third quarter subscription Annualized Recurring Revenue (ARR) was $509 million, an increase of $207 million or 69% from the same period last year.
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CP | Hot Stocks16:03 EDT Canadian Pacific CEO says 'well positioned for a strong second half' - "Overall, it was a good quarter that sets the franchise up well for the remainder of 2018 and beyond," said Keith Creel, CP President and CEO. "Our quarterly performance was impacted by service interruptions related to labour negotiations and strike notices. However, we were able to reach tentative long-term agreements with both the Teamsters Canada Rail Conference and the International Brotherhood of Electrical Workers which will serve the CP family, customers, shareholders and the North American economy well for years to come. It is an exciting time to be at CP as we are well positioned for a strong second half of the year," Creel said. "With labour stability in place, strong underlying network performance and a robust demand environment, the path is clear and the opportunities are many. We will continue to take a disciplined and strategic approach to growing the franchise, but with our 12,800 strong CP family and our precision railroading model, there has never been a better time to be a CP railroader."
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CP | Hot Stocks16:02 EDT Canadian Pacific reports Q2 operating ratio 64.2% - An increase of 140 basis points compared to last year's restated operating ratio of 62.8%.
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FMI | Hot Stocks16:00 EDT Foundation Medicine to settle patent infringement suit with Guardant Health - Foundation Medicin and Guardant Health announced an agreement to settle a patent infringement lawsuit brought by Foundation Medicine against Guardant concerning U.S. Patent No. 9,340,830. Under the terms of the settlement, the lawsuit and counterclaims, as well as challenges to the patent in inter partes review, have been dismissed. Financial terms and other specifics of the settlement were not disclosed.
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VR | Hot Stocks15:57 EDT Validus trading resumes
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BPL | Hot Stocks15:17 EDT Moody's changes Buckeye Partners' outlook to negative from stable - Moody's Investors Service announced earlier that it changed Buckeye Partners' outlook to negative from stable and affirmed its Baa3 senior unsecured rating. The change in the rating outlook reflects expectations of high leverage and weak distribution coverage for 2018-19. "The company will likely incur additional debt over the next year to fund its higher than normal growth capital spending needs and is also contending with weakness in its segregated storage business, part of its Global Marine Terminal segment. The negative outlook also reflects the execution risk in generating the growth related EBITDA over the next couple of years," Moody's stated.
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MSEX | Hot Stocks14:56 EDT Middlesex Water unit awarded City of Perth Amboy contract - Utility Service Affiliates, a subsidiary of Middlesex Water, announced it has been awarded a contract to operate the City of Perth Amboy's water and sewer utilities commencing January 1, 2019 and extending through December 31, 2028. The effective date of the agreement coincides with the expiration of USA-PA's current operating agreement with the City that has been in place for the past 20 years. The contract has been awarded by the City Council and is pending final execution.
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PSXP | Hot Stocks14:53 EDT Phillips 66 Partners announces 5.3% increase in quarterly distribution - Phillips 66 Partners announces that the board of directors of its general partner declared a second quarter 2018 cash distribution of 75.2c per common unit, which represents an increase of 5.3% over the previous quarterly distribution and a 22.3% increase over second quarter 2017. The distribution increase is consistent with previous guidance that the partnership expects a 30% compound annual distribution growth rate from the last quarter of 2013 through 2018. The second quarter distribution is payable August 13 to unitholders of record as of July 31.
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PHM... | Hot Stocks14:42 EDT Homebuilders fall as housing starts crevice to nine-month low - Shares of U.S. home builders are lower on Wednesday after the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced new residential construction statistics for June 2018. Housing starts fell 12% to a seasonally adjusted annual rate of 1.173M units in June, "the lowest level since September 2017," the Commerce Department said. Building permits fell 2.2% to a rate of 1.273M units, the lowest level since September 2017. PRICE ACTION: The entire homebuilder group, including PulteGroup (PHM), D.R. Horton (DHI), Lennar (LEN), KB Home (KBH), Meritage Homes (MTH), Beazer Homes (BZH), and Toll Brothers (TOL), are lower in afternoon trading.
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RAIL | Hot Stocks14:22 EDT Russell Investments reports 5.5% passive stake in FreightCar America
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GOOG GOOGL | Hot Stocks14:00 EDT Alphabet to take Q2 charge of $5.07B for European Commission fine - Alphabet in a press release on its website confirmed that the European Commission announced its decision that certain contractual provisions in agreements between Google and Android partners infringed European competition law and imposed a $5.07G fine on Google. The company, which intends to appeal the decision, plans to accrue the fine, resulting in a charge of $5.07B in its Q2 results. Alphabet will report a separate operating expense line for the $5.07B charge on the income statement. The fine is not tax deductible and will reduce the company's GAAP net income and GAAP EPS by the full amount.
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GLW | Hot Stocks13:54 EDT Corning introduces Gorilla Glass 6, 'most durable cover glass to date' - Corning introduced its latest breakthrough in glass technology, Corning Gorilla Glass 6. Built on a decade-long legacy of delivering the toughest cover glass available for consumer mobile devices, Gorilla Glass 6 is Corning's most durable cover glass to date."As consumers become more dependent on their smartphones, the opportunity for potentially damaging drops is also on the rise. Now more than ever, it's critical that the cover glass provides outstanding protection," said John Bayne, vice president and general manager, Corning Gorilla Glass. "Corning Gorilla Glass 6 improves upon Gorilla Glass 5 by surviving drops from higher heights, but, more importantly, has been engineered to survive multiple drops."
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GSK PFE | Hot Stocks13:23 EDT GSK's ViiV to share data from landmark 2-drug regimen trials at AIDS 2018 - ViiV Healthcare, the global specialist HIV company majority owned by GSK (GSK), with Pfizer (PFE) and Shionogi Limited as shareholders, will be presenting over 20 abstracts, including data from the landmark GEMINI 1 & 2 clinical trials, at the 22nd International AIDS Conference, 23-27 July 2018, in Amsterdam, The Netherlands. The data being presented this year has a strong focus on novel exploratory therapeutic options and innovative treatment strategies, as well as improving awareness and understanding of key issues that continue to affect the HIV community. John C Pottage, Jr, MD, Chief Scientific and Medical Officer, ViiV Healthcare, commented, "As we see advancements in the treatment options available to people living with HIV, our research efforts over the past few years have been focused on moving beyond viral load and addressing some of the unresolved issues that people living with HIV face, such as the potential long-term risks and toxicities that can be associated with lifelong antiretroviral therapy. We look forward to sharing the primary endpoint 48-week data from the GEMINI 1 & 2 studies, that investigates a 2-drug regimen in treatment-naive patients against a standard three-drug regimen; as well as 100-week data from the SWORD 1 & 2 studies for virologically-suppressed patients. AIDS 2018 will be an important moment in our innovative 2-drug regimen research and development program, with results that affirm our 2-drug regimen strategy, and reinforce our belief that many patients can control their disease with two drugs instead of three or more."
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SVU | Hot Stocks13:01 EDT Blackwells urges Supervalu holders to vote for its six board nominees - Blackwells Capital, an alternative investment management firm with over 8% ownership interest in Supervalu, responded to the investor presentation filed yesterday by Supervalu, with Managing Partner Jason Aintabi saying, "We are astounded that Supervalu believes it can advocate for the re-election of its incumbent directors without so much as attempting to address the tremendous losses shareholders have suffered during the tenure of this Board." Aintabi concluded, "It is troubling that the Supervalu Board has the effrontery to seek re-election while ignoring their track record and significantly distorting our intentions. The Supervalu shareholders with whom we have spoken have not forgotten this Board's many unfulfilled promises and record of abject value destruction. It is unacceptable that the directors themselves seem to have erased those memories. There is no more clear example of failed leadership than what we see here. We welcome all shareholders to join us in voting for change that we deserve, by voting the GREEN proxy card."
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DNKN | Hot Stocks12:52 EDT Chanos says Dunkin' franchisees not in northeast doing poorly - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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DNKN | Hot Stocks12:51 EDT Chanos says Dunkin' franchisees not doing as well as parent company - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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NFLX SIRI | Hot Stocks12:49 EDT Netflix and Sirius XM partnering on ' all-new, exclusive comedy radio channel' - "Netflix (NFLX) and SiriusXM (SIRI) are teaming up on an all-new, exclusive comedy radio channel," the companies said. In a blog posting on the SiriusXM web page the statement continued: "The new channel will include material from the Netflix stand-up catalog, which features the biggest names in comedy. SiriusXM will also broadcast comedy talk shows from Netflix plus additional original programming.This partnership marks the first time Netflix, the home for A-list stand-up specials and high-profile comedic talk talent, will bring its content to an audio service.Stay tuned for more information, including an official launch date." Reference Link
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DNKN | Hot Stocks12:49 EDT Chanos says still short shares of Dunkin' Brands - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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TSLA | Hot Stocks12:44 EDT Chanos says Tesla went from concept to engineering autos, is having difficulty - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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TSLA | Hot Stocks12:39 EDT Chanos on Musk: If you bring serious charges, bring serious evidence - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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TSLA | Hot Stocks12:38 EDT Chanos says never paid any journalist, Musk comments not true - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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HL | Hot Stocks12:37 EDT USW to sponsor rally at Hecla Mining headquarters on Friday - The United Steelworkers said that on Friday, July 20, 2018, the union will sponsor a rally at Hecla Mining Company's headquarters to support the members of Local 5114 on strike against unfair labor practices at the company's Lucky Friday Mine in Mullan, Idaho. The union expects hundreds of USW members and retirees, their families, as well as activists and supporters from the breadth of the labor movement to attend Friday's rally, which will take place from 11 a.m. until 1 p.m. outside the company's corporate office at 6500 North Mineral Dr. in Coeur D'Alene. About 250 members of USW Local 5114 have been on strike at Lucky Friday since March 13, 2017, after working under the terms of an expired agreement for nearly eleven months while negotiations proceeded - until Hecla management's unfair labor practices forced the labor dispute.
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TSLA | Hot Stocks12:37 EDT Chanos says never met Tesla CEO Elon Musk - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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JAX | Hot Stocks12:34 EDT Russell Investments reports 5.7% passive stake in J. Alexander's
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FLDM | Hot Stocks12:33 EDT Russell Investments reports 5.8% passive stake in Fluidigm
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EVHC KKR | Hot Stocks12:32 EDT Chanos says KKR deal for Envision Healthcare 'may not happen' - Kynikos Associates founder Jim Chanos is speaking on CNBC.
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SGRY | Hot Stocks12:26 EDT Surgery Partners named a Short at Hedgey
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ASML... | Hot Stocks12:23 EDT Semi equipment stocks move higher after Dutch peer ASML reports results - Shares of companies in the semiconductor equipment space are getting a boost on Wednesday after Dutch peer ASML Holding (ASML) reported quarterly sales that jumped to EUR2.74B from EUR2.285B in the previous quarter. ASML reported Q2 earnings per share of EUR1.37 versus EUR1.26 in Q1. CEO COMMENTARY: "Our second quarter sales were above expectations including higher than forecasted EUV sales. Gross margin was slightly above our guidance, reflecting the strength of our DUV and Applications business and progress in EUV profitability. After an excellent first half of 2018, we expect the second half to be stronger, with improved profitability and continued growth from Q3 to Q4," said ASML President and Chief Executive Officer Peter Wennink. LONGER-TERM SECULAR TAILWINDS: Earlier this month, JPMorgan analyst Sandeep Deshpande advised that the recent correction in shares of ASML were a buying opportunity. While cyclical memory headwinds impact short-term sentiment, longer-term secular tailwinds dominate, Deshpande told investors in a research note on July 3. At the time, the analyst pointed out that ASML's stock had re-rated through previous memory cycles as management provided long-term guidance. As such, the analyst anticipated the company's November analyst day as the next catalyst. Deshpande kept an Overweight rating on ASML with a price target of EUR180. PRICE ACTION: Shares of ASML are up 6.5% to $217.66 in afternoon trading. PEERS FOLLOW HIGHER: Shares of other companies in the semi equipment space are all higher including KLA-Tencor (KLAC), Applied Materials (AMAT), Lam Research (LRCX) and Kulicke and Soffa Industries (KLIC).
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UTX... | Hot Stocks12:11 EDT Air Transat selects Pratt & Whitney GTF engines to power 17 A3210neos - Pratt & Whitney, a division of United Technologies Corp. (UTX), and Air Transat announced the selection of Pratt & Whitney GTF engines to power 17 firm-order A321neo family aircraft: 2 A321neo and 15 long-range A321LR aircraft, the latest variant of the A321neo. All aircraft will be leased from AerCap (AER). This follows the Air Transat announcements in 2017 and 2018 stating its agreements with AerCap for a long-term leasing arrangement. Aircraft deliveries are scheduled to begin in 2019.
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UTX | Hot Stocks12:05 EDT U.S. start-up airline ordres 60 A220 aircraft, powered by P&W GTF engines - Pratt & Whitney, a division of United Technologies Corp. (UTX), announces that the Pratt & Whitney GTF engine will power up to 60 Airbus (EADSY) A220 aircraft ordered under a memorandum of understanding by a start-up airline to be based in the United States. The first aircraft is scheduled to be delivered in 2021. To date, the GTF-powered A220 fleet has flown more than 150,000 engine flight hours with three operators, traveling to 145 destinations.
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TECD MSFT | Hot Stocks12:05 EDT Tech Data signs distribution agreement with Advantech - Tech Data (TECD) announced that it has signed a distribution agreement with Advantech. The addition of Advantech to the Tech Data portfolio extends its end-to-end capabilities and vertical market reach, and will further equip resellers in the U.S. and Canada with solutions preconfigured for Microsoft (MSFT) Azure and related Microsoft services such as Power BI that address a wide array of applications across diverse industries.
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OKTA | Hot Stocks12:02 EDT Okta acquires ScaleFT, terms not disclosed - Okta announced it has acquired ScaleFT, the Zero Trust security company, which provides access solutions for the modern workforce. Together, Okta and ScaleFT will bring Zero Trust to the enterprise by providing organizations with a framework to protect sensitive data, without compromising on experience. By leveraging ScaleFT's Zero Trust platform, and combining it with the leading Okta Identity Cloud, Okta will further enable customers to easily validate users, devices, application and network information and securely grant access to data. Okta and ScaleFT will deliver next-generation continuous authentication capabilities to secure server access from cloud to ground. Founded in 2015, ScaleFT is a pioneer in Zero Trust providing a BeyondCorp-inspired access management platform that enables secure remote access without a VPN. CEO and co-founder Jason Luce will manage the transition between the two companies, and CTO and co-founder Paul Querna will lead strategy and execution of Okta's Zero Trust architecture. Marc Rogers, CSO, will join Okta as Executive Director, Cybersecurity Strategy.
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SKY | Hot Stocks12:00 EDT Skyline falls -6.5% - Skyline is down -6.5%, or -$2.05 to $29.63.
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SAH | Hot Stocks12:00 EDT Sonic Automotive falls -7.1% - Sonic Automotive is down -7.1%, or -$1.45 to $18.95.
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NCS | Hot Stocks12:00 EDT NCI Building falls -11.1% - NCI Building is down -11.1%, or -$2.30 to $18.40.
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UAL | Hot Stocks12:00 EDT United Continental rises 8.5% - United Continental is up 8.5%, or $6.19 to $78.81.
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GWW | Hot Stocks12:00 EDT Grainger rises 10.2% - Grainger is up 10.2%, or $31.08 to $336.04.
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EBF | Hot Stocks12:00 EDT Ennis rises 15.4% - Ennis is up 15.4%, or $3.05 to $22.85.
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MKL | Hot Stocks11:53 EDT Markel gains license for German insurance company - Markel announced that it has been granted a license by BaFin, the German federal financial supervisory authority, to establish an insurance company in Germany. Following Brexit, the United Kingdom's exit from the European Union, Markel Insurance SE, or MISE, will be able to meet the insurance needs of clients located or with risk exposures in the European Economic Area, or EEA.
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GE TDC | Hot Stocks11:47 EDT GE Aviation, Teradata expand partnership - GE Aviation (GE) and Teradata (TDC) announced that GE Aviation will become the exclusive provider of Teradata products and services for commercial aviation markets, providing the world's biggest airlines with a single, comprehensive framework that combines high-performance analytics in the cloud from Teradata with edge-connectivity services from GE Aviation. Teradata and GE Aviation previously announced a partnership to jointly provide products and services to commercial aviation markets. The two companies are extending this relationship to provide airlines with wide-ranging operational insights that power impactful business decisions.
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NVS | Hot Stocks11:35 EDT Novartis Kisqali only CDK4/6 inhibitor indicated in US as first-line therapy - Novartis announced a new approval for Kisqali, ribociclib, from the US Food and Drug Administration for women with hormone-receptor positive, human epidermal growth factor receptor-2 negative advanced or metastatic breast cancer. Kisqali is now the only CDK4/6 inhibitor indicated for use with an aromatase inhibitor for the treatment of pre-, peri- or postmenopausal women in the US, and also is indicated for use in combination with fulvestrant as both first- or second-line therapy in postmenopausal women. FDA reviewed this supplemental New Drug Application under its Real-Time Oncology Review and Assessment Aid pilot programs and approved the application in less than one month after submission."Compelling data for Kisqali have led to the broadest first-line indications of any CDK4/6 inhibitor," said Liz Barrett, CEO, Novartis Oncology. "With this new approval Kisqali has the potential to help even more people in the US live a longer life without progression of disease from this incurable form of breast cancer." This approval is based on the pivotal MONALEESA-7 and MONALEESA-3 Phase III clinical trials that demonstrated prolonged progression-free survival and improvements as early as eight weeks for Kisqali-based regimens compared to endocrine therapy alone[1]. In MONALEESA-7, Kisqali plus an aromatase inhibitor and goserelin nearly doubled the median PFS compared to an aromatase inhibitor and goserelin alone in pre- or perimenopausal women. In MONALEESA-3, Kisqali plus fulvestrant demonstrated a edian PFS of 20.5 months compared to 12.8 months for fulvestrant alone across the overall population of first-line and second-line postmenopausal women.
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TEO | Hot Stocks11:05 EDT Telecom Argentina's landing station selected for ARBR submarine cable system - Telecom Argentina, Grupo Werthein and Seaborn Networks announced that the ARBR submarine cable system between Argentina and Brazil will be landing in Telecom Argentina's cable landing station in Las Toninas, Argentina. In addition, Telecom Argentina shall provide ARBR with dark fiber on a backhaul route between Las Toninas and Buenos Aires, as well as point of presence space in Buenos Aires. ARBR is a new fiber optic submarine cable system developed by Seaborn and co-owned by Seaborn's Seabras Group together with The Werthein Group, a preeminent Argentine investment holding company with a track record of significant telecommunications holdings. ARBR's Brazil landing will be in Seaborn's existing Seabras-1 cable landing station in Praia Grande, Brazil, thereby enabling direct onward connectivity to New York on the fully operational Seabras-1. Construction of the ARBR cable is scheduled to commence in 2018 and to be completed in 2019.
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URG UUUU | Hot Stocks11:05 EDT UR-Energy, Energy Fuels note Commerce investigation into uranium imports - Ur-Energy (URG) and Energy Fuels (UUUU) announce that the U.S. Department of Commerce initiated an investigation into the effects of uranium imports on U.S. national security. This investigation was requested by Ur-Energy and Energy Fuels in their Petition for Relief Under Section 232 of the Trade Expansion Act of 1962, which was filed jointly by the companies on January 16, 2018. The companies say the Secretary of Commerce now has 270 days to conduct the investigation and submit a report to the President of the United States containing the Secretary's findings and proposed remedy, if any. Following receipt of the Secretary's report, the President then has up to 90 days to act on the Secretary's recommendations and, if necessary, take action to "adjust the imports of an article and its derivatives" and/or pursue other lawful, non-trade-related actions necessary to address the import threat.
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VRS | Hot Stocks11:02 EDT Verso announces strategic investments in Androscoggin Mill in Maine - Verso Corporation announced that it will make strategic investments in its Androscoggin Mill in Jay, Maine, focused on technology upgrades that will increase the release liner paper capacity of its No. 4 paper machine. Made over the next 18 months, these investments will better position Verso to meet the growing needs of pressure sensitive laminators worldwide. The investments will be spread across two project phases which include technology upgrades in pulping and refining systems, stock flow piping and paper winding capabilities. The first project phase is scheduled for completion in the third quarter of 2018 with completion of the second project phase expected in 2019.
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UAL | Hot Stocks10:55 EDT United Continental says commercial initiatives running in-line with expectations - Says sees improved results for Guam for the rest of year. Says expects strong results across geographic regions for remainder of the year, except Latin America. Says commercial initiatives running in-line with expectations. Says continues to make enhancements to Gemini. Says plans to continue to expand Basic Economy. Says launched new United Explorer card in June. Says new card acquisitions grew over 10% y-o-y in Q2, expects card acquisitions to accelerate in Q3, Q4. Expects Q3 non-fuel CASM flat to down 1%. Says on track to achieve full-year non-fuel CASM of down 1% to flat.
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BA | Hot Stocks10:54 EDT White House says new Boeing contract for Air Force One meets cost objective - The White House Press Secretary issued the following statement on the Air Force One contract: "Yesterday, the United States Air Force awarded a firm fixed price contract to The Boeing Company to design, modify, test, certify, and deliver two Presidential, mission-ready aircraft by 2024. Formal replacement efforts began in 2011 and the new aircraft will replace the current Air Force One planes that are now 31 years old. The contract sets the total price for the two completed 'Air Force One' replacement aircraft at $3.9B, saving the taxpayers over $1.4B from the initially proposed $5.3B cost-plus contract. President Donald J. Trump has emphasized the need to minimize the cost of replacing the two existing Air Force One aircraft. Yesterday's action meets that objective and reflects the President's commitment to our military and to protecting taxpayer dollars."
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CCJ... | Hot Stocks10:49 EDT Commerce Department initiates Section 232 investigation into uranium imports - U.S. Secretary of Commerce Wilbur Ross announced that he has launched an investigation into whether the present quantity and circumstances of uranium ore and product imports into the United States threaten to impair national security. The investigation will canvass the entire uranium sector from the mining industry through enrichment, defense, and industrial consumption. U.S. uranium producers Energy Fuels (UUUU) and Ur-Energy (URG) filed a petition on January 17, 2018, asking the Commerce Department to investigate the matter under Section 232 of the 1962 Trade Expansion Act. Other publicly traded companies in the space include Cameco (CCJ) and Uranium Energy (UEC). Reference Link
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UAL | Hot Stocks10:43 EDT United Continental says CFO search 'progressing quickly' - Says "very optimistic" about 2H18. Says revenue initiatives are delivering ahead of expectations, Says continuing cost discipline. Says flight attendant integration on track for October of this year. Says Polaris roll-out on schedule. Says a new Polaris equipped aircraft entering service every 10 days on average through 2020. Says higher yield, commercial and operational initiatives are expected to offset fuel headwinds. Says expects revenue to be highly correlated with fuel prices but plans to continue to grow at a pace that maximizes profitability. Says continues to see broad-based strength across regions except Latin America. Says capacity guidance reduction is expected result from fuel prices. Says capacity plans announced in January is a means to maximize profitability and in event of a downturn leased aircraft can be returned to lessor at time of contract expiration or aircraft late in lifecycle and due for heavy maintenance overhauls can be retired and used for spare parts. Says has flexibility to reduce capacity but does not expect to do that as demand is strong. Comments taken from Q2 earnings conference call.
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BA | Hot Stocks10:41 EDT Boeing reports commitments from four customers for 93 737 MAX airplanes - Boeing and four customers have signed commitments for a total of 93 737 MAX airplanes, including a carrier that has committed to 40 of the high-capacity version of the MAX 8 airplane. The commitments, valued at nearly $11B at current list prices, were announced at the 2018 Farnborough International Airshow, the company stated. The agreements will be reflected on Boeing's Orders and Deliveries website when they have been finalized. The four unidentified customers hail from the airline and airplane leasing industries.
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GOOG... | Hot Stocks10:31 EDT EU antitrust ruling against Google seen as win for Amazon, Apple - The EU has hit Alphabet-owned Google (GOOG; GOOGL) with a record antitrust fine for abusing the dominance of its Android mobile operating system. Commenting on the decision, Baird analyst Colin Sebastian said he believes it to be a "pro-Amazon" (AMZN) ruling, benefiting the e-commerce giant and potentially Apple (AAPL) as well. ANTITRUST FINE: The European Commission has fined Google EUR4.34B for breaching EU antitrust rules. "Since 2011, Google has imposed illegal restrictions on Android device manufacturers and mobile network operators to cement its dominant position in general internet search. Google must now bring the conduct effectively to an end within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google's parent company," the Commission stated. Google CEO Sundar Pichai, in response to the European Commission competition decision, stated that "rapid innovation, wide choice, and falling prices are classic hallmarks of robust competition and Android has enabled all of them. Today's decision rejects the business model that supports Android, which has created more choice for everyone, not less. We intend to appeal." 'PRO-AMAZON' RULING: In a research note to investors, Baird's Sebastian argued that the European Commission's ruling against Google is "a bit misguided," but likely a "relatively minor inconvenience" in the short and medium terms. Longer-term, the analyst said he sees modest but not unexpected added risk from requirements to support forked versions of Android, and from the direct and/or indirect benefits of this ruling for Apple and Amazon. In practical terms, the EC is saying that Android users need to download the Google apps they want rather than have them pre-installed and implicitly instructs Google to make its apps available on forked-version of Android, even if those apps won't work as well or as intended on modified operating systems, he contended. Sebastian believes this ruling should have a limited direct impact on Google since it ostensibly does not force a change to the Google search algorithm and seems relatively straight-forward for Google to comply. However, the bigger issue may be the obvious benefits to Amazon and potentially Apple, he argued. The analyst pointed out that while Amazon already generates about 50% of commerce and product-related searches, the EC will require Android users to take another step before they can access an alternative product search engine. Additionally, to force Google to support distribution of forked-versions of Android could directly benefit Amazon's Fire devices, he highlighted. Nonetheless, the analyst noted that the decision does not change his positive view on Alphabet and reiterated an Outperform rating and $1,300 price target on shares of Google's parent company. PRICE ACTION: In morning trading, Class A shares of Alphabet and Amazon are each fractionally lower. Meanwhile, Apple's stock has dropped almost 1% to $190.12.
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TLSRP | Hot Stocks10:03 EDT Telos selected by GSA to offer IT services under $50B Alliant 2 contract - Telos announced it is one of the awardees of the $50B General Services Administration Alliant 2 Government-wide Acquisition Contract for IT services. The GSA recently confirmed that Alliant 2 would be ready for agencies to use starting on July 1, after the Government Accountability Office and the Court of Federal Claims rejected bid protests and upheld the award. Since 2007, the Alliant GWAC has provided solutions that support federal agencies with mission-critical, complex IT services requirements. The Alliant 2 Unrestricted contract will further provide agencies with integrated information technology solutions for evolving needs on a global basis. More specifically, its scope of work says that, "The Contract allows for the application of technology to meet business needs including the ability to perform all current, leading edge and/or emerging IT services required to satisfy all IT services requirements anywhere and anytime worldwide." Alliant 2 is a Multiple Award, Indefinite Delivery, Indefinite Quantity contract with a $50B program ceiling, a base period of five years and a five-year option.
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CRC | Hot Stocks10:00 EDT California Resources falls -5.1% - California Resources is down -5.1%, or -$2.04 to $38.06.
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NCS | Hot Stocks10:00 EDT NCI Building falls -9.4% - NCI Building is down -9.4%, or -$1.95 to $18.75.
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SAH | Hot Stocks10:00 EDT Sonic Automotive falls -9.6% - Sonic Automotive is down -9.6%, or -$1.95 to $18.45.
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EBR | Hot Stocks10:00 EDT Centrais Electricas rises 7.5% - Centrais Electricas is up 7.5%, or 30c to $4.29.
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NCLH | Hot Stocks10:00 EDT Norwegian Cruise Line rises 8.4% - Norwegian Cruise Line is up 8.4%, or $4.01 to $51.58.
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GWW | Hot Stocks10:00 EDT Grainger rises 8.7% - Grainger is up 8.7%, or $26.63 to $331.59.
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SGBX | Hot Stocks09:55 EDT SG Blocks awarded two new container-based projects in the U.S. - SG Blocks has secured significant new container-based projects across the United States. In the last 15 days, SG Blocks was awarded two major projects, including: A construction and delivery contract for a 3,500 square-foot fully-modularized food and beverage park in Orlando; and An architect and engineering services contract for a 27,000 square-foot affordable housing project on the West Coast. In addition, SG Blocks completed the engineering services and initiated procurement of containers for the fabrication of the 242 car parking garage in the Southwest that was in progress in 1Q18. The firm recently signed an agreement with Grimshaw Architects. Under the partnership, SG Blocks is incorporating Grimshaw as its premier design partner for utilization across its current projects and pipeline of future opportunities. Grimshaw is integrating SG Blocks' container-based structures into its global industrial design portfolio.
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GOOGL... | Hot Stocks09:55 EDT Google to appeal EC fine, says Android has created 'more choice, not less' - Google CEO Sundar Pichai issued a response to the European Commission competition decision against Android, in which he states in part: "The decision ignores the fact that Android phones compete with iOS phones, something that 89 percent of respondents to the Commission's own market survey confirmed. It also misses just how much choice Android provides to thousands of phone makers and mobile network operators who build and sell Android devices; to millions of app developers around the world who have built their businesses with Android; and billions of consumers who can now afford and use cutting-edge Android smartphones. Today, because of Android, there are more than 24,000 devices, at every price point, from more than 1,300 different brands...This is possible thanks to simple rules that ensure technical compatibility, no matter what the size or shape of the device. No phone maker is even obliged to sign up to these rules-they can use or modify Android in any way they want, just as Amazon has done with its Fire tablets and TV sticks...In 2007, we chose to offer Android to phone makers and mobile network operators for free. Of course, there are costs involved in building Android, and Google has invested billions of dollars over the last decade to make Android what it is today. This investment makes sense for us because we can offer phone makers the option of pre-loading a suite of popular Google apps (such as Search, Chrome, Play, Maps and Gmail), some of which generate revenue for us, and all of which help ensure the phone 'just works', right out of the box. Phone makers don't have to include our services; and they're also free to pre-install competing apps alongside ours...We've always agreed that with size comes responsibility. A healthy, thriving Android ecosystem is in everyone's interest, and we've shown we're willing to make changes. But we are concerned that today's decision will upset the careful balance that we have struck with Android, and that it sends a troubling signal in favor of proprietary systems over open platforms. Rapid innovation, wide choice, and falling prices are classic hallmarks of robust competition and Android has enabled all of them. Today's decision rejects the business model that supports Android, which has created more choice for everyone, not less. We intend to appeal." Reference Link
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PAG | Hot Stocks09:47 EDT Penske Automotive falls -4.7% - Penske Automotive is down -4.7%, or -$2.29 to $46.92.
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KODK | Hot Stocks09:47 EDT Kodak falls -5.0% - Kodak is down -5.0%, or -20c to $3.80.
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SAH | Hot Stocks09:47 EDT Sonic Automotive falls -10.0% - Sonic Automotive is down -10.0%, or -$2.05 to $18.35.
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EBF | Hot Stocks09:47 EDT Ennis rises 5.8% - Ennis is up 5.8%, or $1.15 to $20.95.
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EBR | Hot Stocks09:47 EDT Centrais Electricas rises 6.5% - Centrais Electricas is up 6.5%, or 26c to $4.25.
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GWW | Hot Stocks09:47 EDT Grainger rises 8.3% - Grainger is up 8.3%, or $25.43 to $330.39.
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AMZN | Hot Stocks09:32 EDT Amazon: Members worldwide purchased more than 100M products during Prime Day
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AMZN | Hot Stocks09:30 EDT Amazon: Customers purchased millions of Fire TV devices during Prime Day
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AMZN | Hot Stocks09:30 EDT Amazon: Small to medium businesses on Amazon exceeded $1B in sales on Prime Day
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AMZN | Hot Stocks09:29 EDT Amazon: Prime Day sales surpassed Cyber Monday, Black Friday, previous Prime Day - Amazon said in a statement: "On a day (and a half) with more than one million deals worldwide offered exclusively to Prime members, sales this Prime Day surpassed Cyber Monday, Black Friday and the previous Prime Day, when comparing 36-hour periods, making this once again the biggest shopping event in Amazon history. Prime members worldwide purchased more than 100 million products during this year's Prime Day event. Best-sellers worldwide were the Fire TV Stick with Alexa Voice Remote and Echo Dot - making this, with 12-hour early access to device deals, the biggest event ever for Amazon devices. For the first time, U.S. Prime members celebrated Prime Day with a week of savings at Whole Foods Market. Members saved millions of dollars at Whole Foods Market with Prime Day deals, of which the best-selling deal was organic strawberries. Small and medium-sized businesses selling on Amazon far exceeded $1 billion in sales this Prime Day." Global Highlights from Prime Day 2018: A record number of Prime members shopped across 17 countries. Amazon welcomed more new Prime members on July 16 than any previous day in Amazon history. Customers purchased millions of Fire TV devices on Amazon globally during Prime Day. Prime Day was the biggest event ever for Echo devices with screens, Echo Show and Echo Spot. Prime Day was the best event ever for Amazon devices for kids, including Echo Dot Kids Edition, Fire 7 Kids Edition tablet and Fire HD 8 Kids Edition tablet. July 16 was the best day ever for Fire TV devices and Kindle e-readers on Amazon globally.
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AMZN | Hot Stocks09:28 EDT Amazon: Prime Day sales surpassed Cyber Monday, Black Friday, previous Prime Day
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MS | Hot Stocks09:27 EDT Morgan Stanley: Fed stress test should be used to prevent next financial crisis
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ABT | Hot Stocks09:25 EDT Abbott says biggest concern is currency headwinds
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MS | Hot Stocks09:23 EDT Morgan Stanley says sees some changes to Fed stress testing
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ABT | Hot Stocks09:20 EDT Abbott says all growth drivers look 'very reliable' for long term
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AIG VR | Hot Stocks09:18 EDT AIG completes Validus acquisition following regulatory, shareholder approval - AIG (AIG) announced it has completed its acquisition of Validus (VAR). The transaction, which was first announced on January 22, closed following receipt of regulatory approvals and approval of Validus shareholders. As part of AIG, Validus adds diversified franchises, including Validus Re, a reinsurance platform; AlphaCat, an insurance-linked securities asset manager; Talbot, a Lloyd's syndicate; Western World, a specialist in U.S. small commercial excess and surplus underwriting; and Crop Risk Services, which provides access to the North American crop insurance market.
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MS | Hot Stocks09:16 EDT Morgan Stanley CFO says liquidity is deep, CLO market is healthy
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QUMU CAJ | Hot Stocks09:15 EDT Qumu receives $9.6M from sale of stake in BriefCam - Qumu (QUMU) received approximately $9.6M in cash from the sale of its stake in BriefCam, a provider of security and intelligence video review software recently acquired by Canon (CAJ). Qumu announced it will use $6.5M of the proceeds to pay down its current debt facility with ESW Capital, with no pre-payment penalty. The principal payment will reduce annualized interest expense by approximately $642,000 per year, excluding amortization of debt issuance costs. The company expects to incur approximately $40,000 in federal and state taxes on the gain, resulting in estimated net proceeds of approximately $9,638,000. On or before August 1, Qumu will pay down the principal balance of its current debt facility by 60% or $6M, leaving $4M remaining. The company will also pay $500,000 in accrued interest on the principal amount repaid. Immediately following the payment, Qumu will have approximately $8M in working capital on its balance sheet. And as noted previously, the company will incur no penalties for this or future pre-payments with proceeds from the BriefCam sale, as part of its loan agreement with ESW.
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SBGI TRCO | Hot Stocks09:14 EDT Sinclair withdraws Dallas, Houston, Chicago applications in revised Tribune bid - Sinclair Broadcast Group (SBGI) announced that it is amending certain previously announced divestitures pursuant to the Tribune Media (TRCO) plan of merger in response to statements made July 16 by FCC Chairman Ajit Pai. Sinclair stated: "While the structures put forth to the FCC throughout the process have all been in compliance with law and consistent with structures that Sinclair and many other broadcasters have utilized for many years with the full approval of the FCC, we have consistently modified the structure in order to address any concerns raised by the FCC. As a result and in light of the ongoing and constructive dialogue we had with the FCC during the past year, we were shocked that concerns are now being raised. Nonetheless, we have decided to move forward with these additional changes to satisfy the FCC's concerns. There can be no question regarding misrepresentation or character given that Sinclair has fully disclosed all terms of all aspects of the transactions it has proposed. The FCC's reported concerns with sales to certain parties have been eliminated in light of the withdrawals of the applications relating to Dallas, Houston and Chicago. Accordingly, we call upon the FCC to approve the modified Tribune acquisition in order to bring closure to this extraordinarily drawn-out process and to provide certainty to the thousands of Tribune employees who are looking for closure."
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TECD MSFT | Hot Stocks09:12 EDT Tech Data partners with Keonn to deliver cloud-based RFID solution - Tech Data (TECD) has formed a strategic partnership with Keonn Technologies, a manufacturer of radio frequency identification, or RFID, hardware and software products, to deliver inventory systems for retail organizations. Hosted on the Microsoft (MSFT) Azure cloud platform, the Keonn Intelligent Inventory Management system encodes, records, monitors and tracks item-level inventory.
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WMT | Hot Stocks09:11 EDT Former Walmart.com CEO Fernando Madeira to become president of ipsy - ipsy announced that Fernando Madeira, the former President and CEO of Walmart.com, has joined ipsy as President. Jennifer Goldfarb, ipsy co-founder and former President, will stay actively involved with the company in her new role as Executive Chairwoman.
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FOE | Hot Stocks09:10 EDT Ferro expands production facility in Colombia - Ferro is expanding its production facility in Girardota, Colombia, to meet increasing global demand for its Ultramarine Blue and Micronized Iron Oxide pigments. Ferro is a producer of Ultramarine Blues, Violets and Pinks. In addition to Girardota, it produces Ultramarine pigments in Llodio, Spain, Doicesti, Romania, and Chennai, India. Ferro's Micronized Iron Oxides, which are mostly used in specialized plastics and coatings applications, are produced in Girardota.
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ABT | Hot Stocks09:10 EDT Abbott says growing faster than industry in several priority countries - Cites India and China. Comments from Q2 earnings conference call.
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MSFT NOV | Hot Stocks09:09 EDT National Oilwell selects Microsoft Dynamics 365 to streamline processes - National Oilwell (NOV) and Microsoft (MSFT) announced an agreement to collaborate on digitally enhancing NOV's sales platform and field service operations to deliver premier experiences, including project management and drilling operations, to the oil and gas industry. NOV is leveraging Microsoft Dynamics 365 to streamline business processes, access real-time data and insights, and revolutionize field service operations with a digital, mobile-first approach. The goal is to increase revenue generation while reducing revenue leakage and improve service margins.
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MS... | Hot Stocks09:09 EDT Fly Intel: Pre-market Movers - UP AFTER EARNINGS: United Continental (UAL), up 4%... Morgan Stanley (MS), up 3.5%... Grainger (GWW), up 6%... CSX (CSX), up 4%. ALSO HIGHER: Funko (FNKO), up 9% after announcing a partnership with Epic Games to launch Fortnite toys... Tribune Media (TRCO), up 4% after Sinclair Broadcast (SBGI) announced that it is amending certain previously announced divestitures in response to statements made July 16 by FCC Chairman Ajit Pai. DOWN AFTER EARNINGS: Healthcare Services (HCSG), down 10%. ALSO LOWER: Cara Therapeutics (CARA), down 4% after announcing an offering of 4.5M shares of common stock... Windstream (WIN), down 9%, and Uniti Group (UNIT), down 5%, after Citi analyst Michael Rollins downgraded both to Sell.
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CMTL | Hot Stocks09:08 EDT Comtech receives $2.3M order for modems from Department of Defense contractor - Comtech announced that during Q4, its Tempe, Arizona-based subsidiary, Comtech EF Data Corp received a $2.3M order for satellite modems from a major U.S. Department of Defense contractor. The order specified the DMD2050E MIL-STD-188-165A/STANAG 4486 Edition 3 Compliant Universal Satellite Modem, which will be utilized to support the U.S. Army Project Manager Tactical Network.
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ATNX | Hot Stocks09:08 EDT Athenex says Axis Therapeutics enters MOU with Hong Kong Polytechnic University - Athenex announced that Axis Therapeutics Limited has entered into a Memorandum of Understanding with the Hong Kong Polytechnic University to explore the establishment of a joint research center to advance the application of immunotherapy in Hong Kong, with the ultimate objective of offering a novel immunotherapy treatment to cancer patients across the globe. Axis Therapeutics, a newly established joint venture to be owned as 55% by Athenex and 45% by Xiangxue Life Sciences, will be primarily focused on the research, development and commercialization of T-cell receptor-engineered T cells, a form of cancer immunotherapy.
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AMSC | Hot Stocks09:06 EDT AMSC announces $11M in D-VAR system orders - AMSC announced five new D-VAR STATCOM system orders valued at over $11 million. Three of the orders serve the renewable connectivity sector and are expected to be used to connect wind power plants to the electric grid, as well as to provide voltage regulation by responding dynamically to varying load conditions. Two of the orders are expected to be used for industrial power quality applications.
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IOTS | Hot Stocks09:05 EDT DB HiTek licenses Adesto's CBRAM technology for IoT applications - Adesto Technologiesannounced that DB HiTek has licensed its Resistive RAM memory technology. DB HiTek will use the Adesto RRAM technology, trademarked as Conductive Bridging RAM, as its embedded non-volatile memory for IoT and other ultra-low power customer designs fabricated in its 180nm process, with an option to extend to 130nm and 90nm nodes. Adesto's proprietary and production-proven CBRAM technology provides the lowest power NVM solution for ultra-low power IoT applications. It achieves significantly lower energy consumption than today's flash memory technologies and delivers enhanced performance compared to standard non-volatile memories.
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ENZ | Hot Stocks09:05 EDT Enzo Biochem announces validation of biomarker detection tests - Enzo Biochem announced the validation of three clinically relevant, cost-efficient biomarker detection tests for charting the progression of various cancers, especially in the field of women's health. These primary antibodies function with our full open system workflow and complement Enzo's strategy of introducing lower cost testing solutions for the clinical laboratory market. The validated tests complement Enzo's Polyview immunohistochemistry, or IHC, and in situ hybridization detection platform, an enhanced diagnostic detection system used by pathologists in reading tissue biopsies and favorably cited by a leading peer review publication for showing no false positives. The new biomarker tests are used in patient tissue samples with elevated levels of three proteins: p16, which aids in the prognosis of cervical cancer; K1-67, an important marker of cell proliferation in different tumors, including cervical and endometrial; and p53, instrumental in diagnosis of high grade gastric, colonic, bladder, endometrial adenocarcinoma and serious ovarian carcinomas.
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THC | Hot Stocks09:04 EDT Tenet reports agreement with Pipeline Health, TWG on sale of Chicago hospitals - Tenet Healthcare Corporation, Pipeline Health LLC, a national operator of hospitals and other healthcare facilities, and TWG Partners, LLC, a Chicago-based healthcare investment firm founded by Eric E. Whitaker, MD, MPH, have entered into a definitive agreement regarding the sale of Tenet's remaining acute care hospitals in the Chicago area. The facilities included in the sale are Louis A. Weiss Memorial Hospital, Westlake Hospital and West Suburban Medical Center, as well as other local operations affiliated with the hospitals. The transaction is expected to be completed in the fourth quarter of 2018, subject to regulatory approvals and customary closing conditions. Pipeline Health will manage the hospitals upon completion.
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BHGE GE | Hot Stocks09:04 EDT Baker Hughes to sell Natural Gas Solutions business for $375M total - Baker Hughes (BHGE), a GE company (GE), announced an agreement to sell its Natural Gas Solutions business to two separate entities, First Reserve and Pietro Fiorentini S.p.A., for a combined value of $375M. NGS is part of BHGE's Turbomachinery & Process Solutions segment, providing commercial and industrial products such as gas meters, chemical injection pumps, pipeline repair products and electric actuators. BHGE has agreed to sell its NGS product line to First Reserve, a global private equity investment firm, focused exclusively on energy. This transaction includes the transfer of approximately 450 employees located in eight countries, including three manufacturing sites in North America and the United Kingdom. In a separate transaction, BHGE has agreed to sell the Talamona branch of its NGS product line to Pietro Fiorentini S.p.A. The transaction includes the transfer of approximately 40 employees and a manufacturing site in Talamona, Italy. Both transactions are expected to close in the second half of 2018, subject to customary closing conditions and appropriate regulatory approvals. BHGE will work closely with the buyers to ensure a seamless transition for impacted employees, customers and suppliers. Financial terms of the individual agreements were not disclosed.
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ZG | Hot Stocks09:03 EDT Zillow launching Zillow Offers in Atlanta - Zillo is launching Zillow Offers in Atlanta for home sellers to request an offer from Zillow to buy their home. When the program launches in Atlanta in the fall of 2018, it will become the third market where Zillow will directly buy homes, prepare them for sale, and list them for sale in its expanded test of Zillow Offers. Zillow Offers is currently available in Phoenix and Las Vegas. Similar to Phoenix and Las Vegas, Zillow will partner with local brokerages and Premier Agents in Atlanta, allowing them to acquire new seller lead opportunities as part of Zillow Offers. The two brokerages partnering with Zillow for the Atlanta launch are Berkshire Hathaway HomeServices Georgia Properties and Better Homes and Gardens Real Estate Metro Brokers.
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CPB | Hot Stocks09:02 EDT Campbell Soup names Xavier Boza as Chief Human Resources Officer - Campbell Soup Company announced the appointment of Xavier Boza as SVP, Chief Human Resources Officer. Boza will be responsible for Campbell's global human resources function, including talent acquisition and management, organizational effectiveness, compensation and benefits, and diversity and inclusion. He will report to Campbell Interim President and CEO Keith McLoughlin, effective Aug. 1, 2018. Boza succeeds Robert Morrissey, who will retire from the company after nearly 15 years.
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SBGI TRCO | Hot Stocks09:02 EDT Sinclair to amend previously announced divestitures related to Tribune deal - Sinclair Broadcast Group (SBGI) announced that it is amending certain previously announced divestitures pursuant to the Tribune Media Company (TRCO) plan of merger. The changes are in response to statements made July 16 by Chairman Ajit Pai of the Federal Communications Commission, in which he announced circulation of a draft hearing designation order regarding Sinclair's pending acquisition of 100% of the issued and outstanding shares of Tribune Media. "While neither Sinclair or Tribune have seen the draft HDO, Chairman Pai's comments and press reports indicate the FCC is questioning the proposed divestitures in Dallas, Houston and Chicago. Accordingly, in order to address such concerns and to expedite the Tribune transaction, Sinclair has withdrawn the pending divestitures of stations in Dallas and Houston to Cunningham Broadcasting Corporation and Tribune has withdrawn the pending divestiture of WGN in Chicago to WGN-TV LLC. Sinclair intends to request permission from the FCC to put the Dallas and Houston stations into a divestiture trust to be operated and sold by an independent trustee following the closing of the Tribune acquisition. Sinclair expects to have identified and entered into a purchase agreement with a third party buyer or buyers for the Dallas and Houston stations prior to closing. As a result of the withdrawal of the application relating to WGN, Sinclair will simply acquire that station as part of the Tribune acquisition, which is, and has always been, fully permissible under the national ownership cap. Throughout the FCC review process of the Tribune merger and divestitures, Sinclair has had numerous meetings and discussions with the FCC's Media Bureau to make sure that they were fully aware of the transaction's structure and basis for complying with FCC rules and meeting public interest obligations. During these discussions and in our filings with the FCC, we have been completely transparent about every aspect of the proposed transaction. We have fully identified who the buyers are and the terms under which stations would be sold to such buyer, including any ongoing relationship we would have with any such stations after the sales. All relevant agreements documenting such terms as required by FCC rules have been filed. While we understand that certain parties, which oppose the transaction object to certain of the buyers based on such buyers' relationships with Sinclair, at no time have we withheld information or misled the FCC in any manner whatsoever with respect to the relationships or the structure of those relationships proposed as part of the Tribune acquisition. Any suggestion to the contrary is unfounded and without factual basis," the company stated.
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F | Hot Stocks08:59 EDT Ford issues two safety recalls in North America - Ford is issuing two safety recalls in North America. Ford is issuing a safety recall in North America for approximately 550,000 2013-16 model year Ford Fusion and 2013-14 Ford Escape vehicles to replace shifter cable bushings.On affected vehicles, the bushing that attaches the shifter cable to the transmission may detach from the transmission. A degraded shifter cable bushing that detaches from the transmission may allow the transmission to be in a gear state different than the gear shift position selected by the driver. Ford is not aware of any accidents or injuries related to this condition. The recall involves approximately 549,401 vehicles in North America, including 504,182 in the United States and federalized territories, 36,887 in Canada, and 8,332 in Mexico. Ford is issuing a safety recall in North America for approximately 162 2018 Ford stripped chassis incomplete vehicles with 22.5-inch wheels and 22,000-, 24,000- or 26,000-pound gross vehicle weight rating for front-wheel studs that were not heat treated properly. Ford is not aware of any accidents or injuries related to this condition. The recall involves approximately 162 incomplete vehicles in the United States.
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MS | Hot Stocks08:57 EDT Morgan Stanley CFO says sweep deposits up about $2B in wealth - Says movement will continue to be away from sweep deposits.
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MS | Hot Stocks08:57 EDT Morgan Stanley CFO says NII expansion seen in 5%-6% range
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FNKO... | Hot Stocks08:56 EDT Funko jumps after announcing partnership for Fortnite toys - Shares of Funko (FNKO) are rising in pre-market trading after the company announced earlier a new partnership with Epic Games to create a range of Fortnite toys and collectibles. Launching Holiday 2018, the collection will be available for purchase at a broad array of retailers worldwide. "We are thrilled to collaborate and partner with Epic Games to create the inaugural Fortnite product collection and to bring these characters to life for the first time. This collection will be a true celebration of Fortnite's incredible popularity and cultural significance, and we believe our Funko Fortnite collectibles will strongly resonate with fans of the game. We look forward to expanding this collection and combining our leading product capabilities with our strong retail platform," said Brian Mariotti, CEO of Funko. Epic Games, the maker of Fortnite, is 40% owned by Tencent (TCEHY) and is part of Disney's (DIS) Accelerator Program. In pre-market trading, Funko has risen $1.45, or 9%, to $17.05 per share.
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MS | Hot Stocks08:49 EDT Morgan Stanley says 'cognizant' of typical summer slowdown - Looking ahead, the bank says standardized RWAs expected to remain relatively unchanged at $388B. Says Basel III standardized Common Equity Tier 1 and supplementary leverage ratios expected to increase to 15.8% and 6.4%, respectively. Sees tax rate for the remainder of the year at upper end of FY18 22%-25% guidance. Says "cognizant" of typical summer slowdown, and cites a "number of uncertainties" that may impact investor sentiment, including trade tensions and political uncertainties across Europe. Says "confident" in medium-term targets as long "as markets are opening and functioning."
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ZION | Hot Stocks08:49 EDT Zions Bancorp announces results of regulatory actions - Zions Bancorp has been notified of the proposed decision by the Financial Stability Oversight Council to grant Zions' appeal for relief from the designation of Zions or its successor as a systemically important financial institution, or SIFI, under the Dodd-Frank Act. In recent days, Zions also received approval from the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation with regard to its application to merge its holding company with and into its bank, ZB, N.A., with the resulting bank to be known as Zions Bancorporation, N.A. Zions has filed preliminary proxy materials with the SEC in conjunction with a shareholder meeting tentatively scheduled for mid-September 2018 with respect to shareholder approval of the merger. It is anticipated that the merger will be completed in late September. The merger is expected to result in the elimination of duplicative regulatory efforts, leaving the OCC as Zions' primary federal regulator.
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PAG | Hot Stocks08:48 EDT Penske Automotive raises quarterly dividend to 36c per share - The dividend is payable on September 5 to shareholders of record on August 10.
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SNAP NLSN | Hot Stocks08:46 EDT Snapchat integrates Nielsen premium audience segments - Nielsen (NLSN) announced that its premium audience segments will be available on Snapchat's (SNAP) ad buying platform. This integration will allow advertisers and agencies to buy inventory on Snapchat using Nielsen-branded audience segments through the Nielsen Marketing Cloud. The offering will allow clients access to audience data across more than 30,000 segments including Nielsen Buyer Insights and Nielsen Catalina Solutions, which are based on offline purchase data. Advertisers and marketers can now create and connect with personalized audience segments using consumer characteristics, including demographics, buying behavior and mobile behavior. Snapchat's integration will additionally allow Nielsen Marketing Cloud Data Management Platform clients to take advantage of their first-party data segments and target them directly on Snapchat's platform.
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VR | Hot Stocks08:43 EDT Validus trading halted, news dissemination
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ICE | Hot Stocks08:39 EDT IntercontinentalExchange completes acquisition of Chicago Stock Exchange - IntercontinentalExchange announced that it has completed its acquisition of the Chicago Stock Exchange. Terms of the transaction were not disclosed. The financial impact of the acquisition is not material to ICE and will not impact capital return plans.
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MS | Hot Stocks08:38 EDT Morgan Stanley says 2018 'appears to be a transition year' - Says CCAR test becoming "increasingly more demanding" each year, adds that 2018 appears to be a transition year. Expects Q3 experience seasonality common to summer months. Says Institutional Securities had strongest 1H since 2007. Comments taken from the Q2 earnings conference call. Shares of Morgan Stanley are up 3% in pre-market trading.
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SLP | Hot Stocks08:38 EDT Simulations Plus enters research collaboration with European consortium - Simulations Plus announced that it has entered into a one-year funded research collaboration with a large European consortium to further develop and validate the mechanistic Transdermal Compartmental Absorption and Transit model in GastroPlus. Viera Lukacova, director of simulation sciences, said: "We are very pleased to have the opportunity to work with the diverse membership of this large European consortium to enhance the GastroPlus TCAT model in support of alternative approaches to animal testing. The model is already being utilized heavily within pharmaceutical companies to support transdermal product development activities. This project will contribute substantially to improvements in the program, specifically directed toward the predictions of local exposure within the skin layer following topical administration of various chemicals. We expect the developments under this agreement will aid companies and regulatory agencies as they strive to implement an animal-free chemical safety assessment program."
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INTU AMZN | Hot Stocks08:37 EDT Intuit says moving to AWS to accelerate developer productivity
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SYF MA | Hot Stocks08:34 EDT Synchrony, Belk launch co-branded credit card - Synchrony (SYF) and Belk announced the new Belk Rewards Mastercard to make shopping simpler and safer, while enabling customers to earn rewards faster. Synchrony and Belk have offered a store card tied to the Belk Rewards loyalty program for more than 13 years. Now, the new Belk Rewards Mastercard offers the same great benefits of the Belk store card with additional rewards on every purchase made wherever Mastercard (MA) is accepted. The card also provides additional security benefits that include Mastercard's zero fraud liability, extended warranty coverage, purchase protection, and identity theft resolution assistance.
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INTU AMZN | Hot Stocks08:34 EDT Intuit announces sale of data center in Quincy, WA, to H5 Data Centers - Intuit (INTU) announced the sale of its largest data center as the company advances its strategy and continues migrating its services to the public cloud, moving away from investing in owning hosting platforms. Intuit is selling its Data Center in Quincy, Wash. to H5 Data Centers. "We chose to move to Amazon Web Services (AMZN) to accelerate developer productivity and innovation for our customers, and to accommodate spikes in customer usage through the tax season," said H. Tayloe Stansbury, Intuit Executive Vice President and Chief Technology Officer. "Our TurboTax Online customers were served entirely from AWS during the latter part of this tax season, and we expect to finish transitioning QuickBooks Online this year. Now that most of our core applications are in AWS, the time is right to transition the ownership and operation of this data center to a team who will expertly manage the infrastructure through the remainder of this transition." The sale is expected to result in a GAAP operating loss of $75 to $85 million. The impact of this GAAP operating loss on net income and EPS is expected to be offset by tax benefits related to the sale, share based compensation and the reorganization of a subsidiary during the quarter. The net impact is expected to result in no change to GAAP EPS.
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GNK | Hot Stocks08:33 EDT Genco Shipping to acquire two 2016-built capesize vessels for approx. $98M - Genco Shipping & Trading announced that it has entered into an agreement to acquire two 2016 South Korean built 180,000 dwt Capesize vessels for an en bloc purchase price of approximately $98M. The agreement to purchase these two high specification, fuel efficient Capesize vessels follows Genco's previously announced agreements to purchase two 2015-built 180,000 dwt Capesize vessels, one 2016-built 60,000 dwt Ultramax vessel and one 2014-built 61,000 dwt Ultramax vessel. Genco intends to fund the acquisition of these fuel-efficient vessels with a new credit facility, as described below, and cash on hand. All six vessels are expected to deliver to Genco in 3Q18. Genco also announced that it received a commitment for a five-year senior secured credit facility to be led by Credit Agricole Corporate & Investment Bank with an estimated aggregate principal amount of approximately $107M. Under the terms of the New Credit Facility, borrowings are to bear interest at LIBOR plus 250 basis points through September 30, 2019 and LIBOR plus a range of 225 to 275 basis points thereafter, dependent upon Genco's ratio of total net indebtedness to the last twelve months EBITDA. Genco also announced that it has entered into agreements for the sale of two of its older Handysize vessels, the Genco Explorer and the Genco Progress, as part of its fleet renewal program. The aggregate sale price for the two vessels is approximately $11.2M. The sale is subject to customary conditions.
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INTU AMZN | Hot Stocks08:33 EDT Intuit announces sale of data center in Quincy, WA, to H5 Data Centers - Intuit (INTU) announced the sale of its largest data center as the company advances its strategy and continues migrating its services to the public cloud, moving away from investing in owning hosting platforms. Intuit is selling its Data Center in Quincy, Wash. to H5 Data Centers. "We chose to move to Amazon Web Services (AMZN) to accelerate developer productivity and innovation for our customers, and to accommodate spikes in customer usage through the tax season," said H. Tayloe Stansbury, Intuit Executive Vice President and Chief Technology Officer. "Our TurboTax Online customers were served entirely from AWS during the latter part of this tax season, and we expect to finish transitioning QuickBooks Online this year. Now that most of our core applications are in AWS, the time is right to transition the ownership and operation of this data center to a team who will expertly manage the infrastructure through the remainder of this transition."
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TEUM | Hot Stocks08:33 EDT Pareteum awarded $10M contract from Asian mobile and cryptocurrency company - Pareteum's Pareteum Global Cloud Service Platform has been chosen by a provider of multi-level marketing plans to extend their connectivity options. The customer currently offers multi-level marketing and advertising-sponsored mobile services to subscribers. Those subscribers receive remuneration in the form of cryptocurrency settlements that can be applied toward the purchase of added connectivity and usage for their devices. Pareteum's Insights Engine will collect, analyze, and, via Predictive Analytics, deliver actionable intelligence and reports to target new subscribers. Pareteum's GCSP will also provide software services to meter, rate, provision new customers, deliver bills, and collect payments.
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AMZN | Hot Stocks08:32 EDT GrowGeneration forms strategic partnership with Amazon.com - GrowGeneration announced that it has formed a strategic partnership with Amazon to launch hydroponic and organic garden supplies online. GrowGeneration is onboarding thousands of products to offer the best pricing and world-class logistics with two-day delivery or better.
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BAESY LMT | Hot Stocks08:14 EDT Lockheed Martin selects BAE Systems to provide flight controls for F-16s for UAE - BAE Systems (BAESY) has been selected by Lockheed Martin (LMT) to provide flight controls to upgrade next-generation F-16 aircraft for the United Arab Emirates, or UAE. The company will provide the F-16s with its advanced digital flight control computer, which receives demand inputs from the pilots' control stick and rudder pedals, and monitors current flight conditions from on-board sensors. It also rapidly computes and transmits commands to all actuators throughout the aircraft, including rudders, stabilizers, and spoilers to maintain controlled flight. The initial order from Lockheed Martin includes a range of services such as design, qualification, integration, flight test, and certification for the flight control computer. Production orders for approximately 100 units are then expected in 2020 and 2021, for up to a total of 315 units through 2028. Additional orders may be exercised in the future under the terms of the agreement for upgrades and potential new builds of F-16s.
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CRON | Hot Stocks08:12 EDT Cronos Group enters joint venture to expand cannabis production in Ontario - Cronos Group has entered into a joint venture partnership with a group of investors led by Bert Mucci - the Greenhouse Partners -, one of Canada's greenhouse operators and builders. This partnership will function through a newly formed entity, Cronos Growing Company, which will develop, construct and operate a purpose-built greenhouse for cannabis production in Kingsville, Ontario. Cronos GrowCo is a 50/50 partnership between the company and the Greenhouse Partners. Cronos GrowCo plans to develop an approximately 850,000 square foot custom-built greenhouse on about 100 acres of land owned by Cronos GrowCo in the greenhouse region of Kingsville, Ontario. Cronos Group expects that once the facility is fully operational and licensed, it will produce approximately 70,000 kilograms of cannabis per annum for Cronos GrowCo.
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WAFD ANCB | Hot Stocks08:11 EDT Washington Federal, Anchor Bancorp terminate merger agreement - Washington Federal (WAFD) and Anchor Bancorp (ANCB) mutually agreed to terminate the previously announced agreement and plan of merger dated as of April 11, 2017, as amended. President and CEO Brent Beardall commented, "We are disappointed the transaction will not be consummated, but wish to thank the Board and Management of Anchor for their cooperation during this process. We wish Anchor the best going forward."
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CACI | Hot Stocks08:09 EDT CACI awarded task order with $122M ceiling by GSA - CACI announced that it has been awarded a task order with a ceiling value of $122M by the General Services Administration, or GSA, Federal Systems Integration and Management Center, or FEDSIM, to develop advanced electronic communications systems in support of the Special Communications Mission Solutions division of the Naval Air Warfare Center Aircraft Division. The five-year Crisis Response and Interoperable Command, Control, Communications, and Computers Electronic Systems task order was awarded under the GSA's OASIS contract vehicle and represents continuing work for CACI in its Communications market. Under the task order, CACI will provide full lifecycle development - including rapid prototyping, fabrication, fielding, and maintenance - of interoperable systems and solutions to facilitate communications and knowledge transfer among DoD and other federal, state, and local agencies during crisis and emergency events worldwide.
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G | Hot Stocks08:08 EDT Genpact to acquire Barkawi Management Consultants, terms not disclosed - Genpact has signed a definitive agreement to acquire Barkawi Management Consultants, a leading supply chain management consultancy with operations in the U.S. and Europe that is part of the Barkawi Group. Terms of the deal were not disclosed.
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BA | Hot Stocks08:08 EDT Boeing subsidiary granted maintenance contract by Romanian Air Force - Boeing subsidiary Tapestry Solutions has received a Foreign Military Sales contract from the U.S. Air Force to provide an Integrated Maintenance System for Romanian Air Force's fleet of F-16 fighter aircraft. The FMS contract calls for the integration of Tapestry's GOLDesp Maintenance, Repair and Overhaul software. GOLDesp is a military-grade, enterprise MRO solution designed for aftermarket sustainment of complex assets operating in land, air, sea and space environments.
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PERY | Hot Stocks08:08 EDT Perry Ellis special committee reiterates commitment to Feldenkreis transaction - The special committee of the Perry Ellis International board of directors reiterated its commitment to the George Feldenkreis transaction and its intention to recommend that all Perry Ellis shareholders vote for the Feldenkreis transaction. The committee stated that Randa's proposal is "highly-conditional, non-binding and insufficient in terms of value and certainty of the provided debt financing commitments, as well as the lack of evidence of sufficient cash equity on hand" and that "the proposal by Randa includes incremental conditionality and risks of delay and closing uncertainty that are not present in the Feldenkreis merger agreement." The committee adds: "Another consideration in deciding whether to re-engage in negotiations with Randa is the fact that Randa has persistently violated the terms of its non-disclosure agreement with the company despite receiving multiple warnings from the special committee's advisors...Based on the totality of the circumstances considered in comparison to the potential for a slight price improvement, the special committee again concluded that re-engaging with Randa at this time is not in the best interest of shareholders."
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ATOS | Hot Stocks08:06 EDT Atossa Genetics announces intraductal microcatheter immunotherapy program - Atossa Genetics announced that it is advancing its intraductal microcatheter immunotherapy program with pre-clinical studies being conducted by Translational Drug Development. The purpose of the initial study is to develop and validate preclinical methods of using Atossa's proprietary intraductal microcatheter technology to administer immunotherapy to the site of tumor initiation. The studies are being conducted for Atossa by Translational Drug Development, LLC, which is an oncology development organization that provides innovative services and is uniquely positioned to support improved and accelerated development of medicines for life-threatening oncology diseases.
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MAR | Hot Stocks08:06 EDT Marriott removing plastic straws worldwide by July 2019 - Marriott has adopted a plan to remove disposable plastic straws and plastic stirrers from its more than 6,500 properties across 30 brands around the world. Once fully implemented in one year, the company could eliminate the use of more than 1 billion plastic straws per year and about a quarter billion stirrers.
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NVEE | Hot Stocks08:05 EDT NV5 Global announces additional commissioning task order for U.S. Embassy - NV5 Global announced that it has been selected to provide commissioning services to the U.S. Department of State's Bureau of Overseas Buildings Operations for a new embassy compound located in Beirut, Lebanon. The multi-building facility is located on a 43-acre site in the suburb of Awkar. The latest of 49 projects that NV5 has completed with OBO since 2007, this task order adds an additional $2M in contracted fees which now total over $20M.
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GTT | Hot Stocks08:05 EDT GTT Communications awarded three-year contract valued at $24M by DITCO - GTT Communications has been awarded a contract by the Defensive Information Technology Contracting Organization, the contracting arm of the Defense Information Systems Agency, to provide telecom services in Afghanistan. The three-year contract is valued at $24M.
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GWW | Hot Stocks08:05 EDT Grainger CEO says 'The second quarter exceeded our expectations' - "The second quarter exceeded our expectations, with strong growth from U.S. large and medium customers, gross profit that was better than anticipated and meaningful operating expense leverage. We continue to gain share across both large and medium customers and acquire medium customers amid a strong economy. In Canada, we are on schedule with the business turnaround. And the single channel and international businesses also improved operating performance," said DG Macpherson, Chairman and CEO. "Based on our performance and momentum, we are raising our sales and earnings per share guidance for the year."
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TWTR | Hot Stocks08:04 EDT Bloomberg announces launch of Twitter feed optimized for trading - Bloomberg announced today the expansion of its relationship with Twitter, launching a real-time feed of curated Twitter data, so that enterprise clients can incorporate the most financially relevant content into their trading algorithms. "Built on the back of Bloomberg's robust Natural Language Processing techniques and available through the company's Event-Driven Feeds product, the data allows financial firms to extract value by making sense of the over 500 million Tweets per day," the company stated.
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CLNY | Hot Stocks08:03 EDT Colony Industrial acquires Yellow Brick Road portfolio in Baltimore - Colony Industrial announced that it has acquired a portfolio of two warehouse properties in Baltimore, MD, located at 8901 and 8965 Yellow Brick Road. Colony Industrial is the light industrial platform of Colony Capital, a diversified global real estate investment firm with $43B of assets under management. Colony Industrial acquired the Yellow Brick Road Portfolio on July 12, its second acquisition in Baltimore in the past two weeks. The properties total 219,760 square feet and offer immediate access to Interstate 95 and Interstate 695. The buildings are 100% leased to six high-quality tenants.
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IMMU | Hot Stocks08:03 EDT Immunomedics: FDA accepts BLA, grants priority review for sacituzumab govitecan - Immunomedics announced that the FDA has accepted the company's Biologics License Application, or BLA, for filing and granted Priority Review for sacituzumab govitecan for the treatment of patients with metastatic triple-negative breast cancer, or mTNBC, who previously received at least two prior therapies for metastatic disease. The PDUFA target action date is January 18, 2019. If approved, sacituzumab govitecan would be the first and only ADC approved for the treatment of mTNBC. The filing is based on Phase 1/2 data of sacituzumab govitecan in mTNBC.
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CATS GE | Hot Stocks08:02 EDT Catasys names Jeremiah Stone as Chief Technology Officer - Catasys (CATS) announced Jeremiah Stone's appointment as the company's Chief Technology Officer, a newly created position within the company. He will be responsible for the strategic direction and evolution of Catasys' global technology operations, including the predictive analytics and digital technology behind the Catasys OnTrak program. Stone joins Catasys from GE (GE), where he most recently served as Vice President of Applications for GE Digital.
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CLRB | Hot Stocks08:01 EDT Cellectar Biosciences reports 'positive' Phase 2 interim data for CLR 131 - Cellectar Biosciences announces positive interim results from the company's Phase 2 clinical trial for its lead product candidate CLR 131, in patients with diffuse large B-cell lymphoma. After a single 25.0 mCi/m2 IV administration of CLR 131, patients with relapsed/refractory DLBCL were assessed for response. These interim data show a 33% overall response rate and a 50% clinical benefit response. In addition, the observed responses to date show overall tumor reduction ranged from 60% to greater than 90%. As a result of these favorable outcomes, the company has expanded this cohort to include up to 30 additional patients. The DLBCL cohort of this Phase 2 trial was initiated in January 2018 and represents the fourth B-cell hematologic cancer to be studied in the trial. All DLBCL patients enrolled are required to have relapsed or refractory disease to multidrug chemotherapy regimens containing rituximab and an anthracycline. Part of the funding for this study is provided by a multimillion-dollar NCI Fast Track SBIR grant.
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GWW | Hot Stocks08:01 EDT Grainger raises FY18 outlook
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NOG | Hot Stocks07:56 EDT Northern Oil and Gas to acquire production in North Dakota for $68.4M - Northern Oil and Gas announced that it has entered into a definitive agreement to acquire significant production in North Dakota, currently producing over 4,100 barrels of oil equivalent per day. The asset, primarily a large package of producing wells, is being acquired from Pivotal Petroleum Partners, a portfolio company of funds managed by Tailwater Capital. Total consideration at closing will consist of $68.4M in cash and 25.75M shares of Northern common stock. Pivotal will be subject to a lock-up on the shares over a 13-month post-closing period. The agreement contains a mechanism for potential additional consideration to be paid during the 13-month lock-up period if Northern's common stock trades below certain price targets. The acquisition is expected to close in approximately 60 days, with an effective date of June 1. The acquisition is expected to be accretive to cash flow, leverage metrics, and earnings per share through 2020. Northern expects the acquired asset to generate approximately $56M of cash flow from operations over the next twelve months. Northern expects to become cash flow positive immediately upon closing.
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ABT | Hot Stocks07:49 EDT Abbott CEO says 'All four of our businesses exceeded expectations' - "All four of our businesses exceeded expectations and contributed to strong growth overall," said Miles White, chairman and CEO, Abbott. "We forecast continued strong performance and are raising our full-year outlook despite recent currency shifts."
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ABT | Hot Stocks07:47 EDT Abbott reports Q2 Worldwide Medical Devices sales increased 11.3% - Worldwide Medical Devices sales increased 11.3% on a reported basis in the second quarter. On an organic basis, sales increased 8.2%.
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ABT | Hot Stocks07:45 EDT Abbott raises FY18 outlook
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FCEL | Hot Stocks07:36 EDT FuelCell Energy announces creation of over 100 manufacturing jobs - FuelCell Energy announced the increase in annual production to 55 megawatts from the current 25 megawatts run-rate. In conjunction with this action, FuelCell Energy will add over 100 manufacturing jobs at its Torrington, CT manufacturing facility to support the 120% increase in production rate. The Torrington factory was constructed in 2001 with an initial operating capacity of 50 megawatts per year. At the time, the company's technology centered on 250 kilowatt fuel cell units with a cell life of three years. Today the factory is capable of producing 100 megawatts per year, and sized to scale to approximately 200 megawatts with additional investment in machinery. The products being manufactured and delivered today are megawatt class fuel cells with electrical efficiencies of up to 60% and a cell life of seven years. Deployments range in size from 1.4 megawatt university and hospital campus installations to a 60 megawatt utility scale fuel cell park.
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PRIM | Hot Stocks07:36 EDT Primoris announces utility, distribution awards valued at $69M - Primoris Services announced two Master Service Agreements, or MSAs, with a major utility customer with a combined anticipated three-year value of $69 million. The contracts were secured by Q3 Contracting, part of the Utilities and Distribution segment. The first MSA is a three-year extension of an existing agreement for the restoration of hard and soft surfaces in Minnesota. The second MSA is a three-year extension of an existing agreement for traffic control services in Minnesota. Primoris estimates that the expected annual revenue from these contracts is a combined $23 million per year over the course of the contracts. While the agreements do not obligate the customer to award Primoris a specific dollar amount, our discussions with the customer and our history with similar clients form the basis for our anticipated value.
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ADAP | Hot Stocks07:34 EDT Adaptimmune announces favorable review of safety from cohort in MAGE-A10 study - Adaptimmune Therapeutics announced favorable review of safety data from the second dose cohort of patients who received one billion transduced SPEAR T-cells targeting MAGE-A10 in the non-small cell lung cancer study. Based on these data, the Safety Review Committee has endorsed dose escalation to the third dose cohorts in both MAGE-A10 pilot studies. To date, eight patients have received 100 million transduced MAGE-A10 SPEAR T-cells in the first dose cohorts of both studies, and three patients have received one billion cells in the second cohort of the NSCLC study. No evidence of toxicity related to off-target binding or alloreactivity has been reported. Most adverse events were consistent with those typically experienced by cancer patients undergoing cytotoxic chemotherapy or other cancer immunotherapies. Overview of Study Design MAGE-A10 Pilot Studies: These are first-in-human, open-label studies utilizing a modified 3+3 design in up to 28 patients with escalating doses of 100 million, 1 billion, and 1.2-6 billion transduced SPEAR T-cells to evaluate safety, including dose limiting toxicities followed by a possible expansion phase with doses of up to 10 billion SPEAR T-cells, One study is in NSCLC and the other study is in bladder, melanoma, and head & neck cancers, Patients are screened under a separate protocol to identify those who have the relevant HLA-A*02 alleles and MAGE-A10 tumor expression, There was a 21-day stagger between patients in Cohort 1, with this stagger dropping to 7 days in Cohorts 2, 3, and also in the potential expansion phase, Cohorts 1-3 were intended to enroll 3 patients each with an expansion to 6 patients if DLTs were observed, The expansion phase can enroll up to 10 patients, The lymphodepletion regimen for: Cohort 1 - cyclophosphamide for 2 days; Cohorts 1 and 2 - fludarabine and cy for 3 days; Cohorts 3 and expansion phase - flu for 4 days and cy for 3 days. For NSCLC - efficacy is assessed by overall response rate, duration of response, progression-free survival, and overall survival at weeks 4, 8, and 12, month 6, and then every 3 months and then every 6 months until confirmation of disease progression. For Triple Tumor - efficacy is assessed by overall response rate, best overall response, time to response, duration of response, duration of stable disease, progression-free survival, and overall survival at weeks 6, 12, 18, and 24 weeks, and then every 3 months until confirmation of disease progression.
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BIIB ESALY | Hot Stocks07:33 EDT Biogen to present data from Alzheimer's disease portfolio at AAIC - Biogen (BIIB) announced it will present data from its Alzheimer's disease clinical development portfolio at the upcoming Alzheimer's Association International Conference in Chicago. Data being presented are part of Biogen's research programs targeting several of the identified causes of Alzheimer's disease, focusing on early-stage disease."The data to be presented at AAIC exemplify our belief that treatments are needed at the earliest stages of Alzheimer's disease to impact the underlying pathophysiology and delay disease progression," said Samantha Budd Haeberlein, vice president, clinical development at Biogen. "We are pleased to present new findings at this year's meeting and continue to demonstrate our commitment to the millions of people living with Alzheimer's disease." Biogen presentations will include a new analysis from the Phase 1b study of aducanumab, an investigational anti-amyloid beta antibody therapy for mild cognitive impairment due to Alzheimer's disease and mild dementia due to Alzheimer's disease. Aducanumab is currently being evaluated in two global Phase 3 studies, ENGAGE and EMERGE, which are designed to evaluate its safety and efficacy in slowing cognitive and functional impairment in people with MCI due to Alzheimer's disease and mild Alzheimer's disease dementia, and is being co-developed with Eisai as of October 2017. In addition, Biogen's collaborator Eisai (ESALY) will present topline Phase 2 clinical study results of BAN2401, an anti-amyloid beta protofibril antibody, and data on elenbecestat, a BACE inhibitor. Elenbecestat is currently being evaluated in two global Phase 3 clinical studies in early Alzheimer's disease.
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MBRX | Hot Stocks07:32 EDT Moleculin Biotech expects to meet FDA INDA filing requirements for WP1732 - Moleculin Biotech announced it has begun preclinical toxicology testing of its WP1732, a fully water-soluble STAT3 inhibitor through its new subsidiary in Australia. "Based on preclinical testing, we believe the discovery of WP1732, a fully water-soluble STAT3 inhibitor, has the potential to be a breakthrough discovery for rare and difficult to treat cancers. As a result of our preclinical testing, we have recieved multiple requests to commence clinical trials and we are pleased to be taking the next steps in preparing for the appropriate clinical work," commented Walter Klemp, Chairman and CEO of Moleculin. "By utilizing our subsidiary in Australia and the attractive R&D tax credits it offers, we can accelerate the preclinical work of WP1732 and maintain a strong cash balance. We believe this will allow us to complete our IND-enabling work and meet FDA submission requirements before year-end while also reducing our total cost of development."
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KMPR | Hot Stocks07:31 EDT Kemper: Q2 results to include pre-tax catastrophe losses of $42M-$47M - Kemper announced that it estimates its second quarter 2018 results will include pre-tax catastrophe losses in the range of $42M-$47M. The company does not expect to recover any of these losses under its catastrophe reinsurance programs. The losses were related to more than 15 storms throughout the country and adversely impacted losses for both homeowners and auto lines.
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SFUN | Hot Stocks07:22 EDT Fang Holdings engages KPMG as independent public accountant - Fang Holdings appointed KPMG Huazhen as its independent registered public accounting firm for the fiscal year ending December 31, 2018 to replace Ernst & Young Hua Ming, effective immediately.
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GRMN | Hot Stocks07:10 EDT Garmin expands aircraft approvals for GFC 600, 500 autopilots - Garmin announced continued progress in aircraft approvals for the GFC 600 and GFC 500 autopilots. The imminent certification of several aircraft also add to the growing list of approvals for both autopilots. The Bonanza/Debonair, Cessna 210 and Grumman AA-5 series will soon be approved for the GFC 500 autopilot, while the Beechcraft Baron and Cessna 208B will add to the list of the GFC 600. In just under a year, Garmin has completed supplemental type certifications, or STC, on ten aircraft models between both autopilots, with more aircraft approvals in progress and many more soon to follow. The design of these autopilots deliver in-flight characteristics, self-monitoring capabilities and minimal maintenance needs when compared to older generation autopilot systems. With safety-enhancing technologies such as electronic stability and protection, underspeed and overspeed protection, level mode, flight director and more, pilots receive a suite of advanced autopilot capabilities that reduce pilot workload throughout all phases of flight.
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WPC | Hot Stocks07:07 EDT W.P. Carey acquires $178M 36-property portfolio in the Netherlands - W. P. Carey acquired a 36-property "Do-It-Yourself" retail portfolio in the Netherlands from CRH plc for approximately $178M. The portfolio is triple-net leased to the Dutch DIY group Intergamma for a weighted average lease term of 15 years. The transaction closed on July 13. Intergamma and its franchisee-shareholders represent the leading DIY retailer in the Netherlands, with a history dating back more than 85 years. The portfolio covers all key regional locations across the Netherlands with a concentration in the Randstad region, home to more than 40% of the Dutch population and the Netherland's three largest cities.
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GRMN | Hot Stocks07:06 EDT Garmin introduces new aviator watches - Garmin announced the D2 Delta PX, D2 Delta S and D2 Delta aviator watch series, three new GPS-enabled smartwatches built in a variety of sizes and personalities for pilots and aviation enthusiasts. New to the D2 aviator watch series, the D2 Delta PX incorporates built-in wrist-based Pulse Oximeter for oxygen saturation awareness. Additionally, all D2 Delta watches come with wireless connectivity with select Garmin avionics, Garmin Pay contactless payment solution, storage for music playlists and more.The D2 Delta series integrates with select Garmin avionics to achieve a connected cockpit. The D2 Delta can connect wirelessly to the Garmin Pilot app, as well as the GTN 650/750 touchscreen navigator series or the G1000 NXi integrated flight deck via Flight Stream 510 to enable wireless flight plan transfer to the watch. When connected, all models in the new D2 Delta series can receive additional information from compatible avionics including GPS position information, altitude, airspeed, groundspeed, magnetic heading, outside air temperature and more.
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BA | Hot Stocks07:06 EDT Boeing, VietJet sign $12.7B agreement for 100 737 MAX airplanes - Boeing and VietJet signed a Memorandum of Understanding at the 2018 Farnborough International for an additional 100 737 MAX airplanes. The agreement, which includes 80 737 MAX 10s and 20 737 MAX 8s, is valued at more than $12.7B at current list prices. The Vietnamese low-cost carrier will become the largest MAX 10 customer in Asia once the deal is completed. VietJet plans to leverage the added capacity of the MAX 10 to satisfy surging demand on high-dense domestic routes, as well as on popular destinations throughout Asia. As part of the agreement, Boeing would partner with VietJet to enhance technical and engineering expertise and the training of pilots and technicians in Vietnam, helping to further develop the commercial aviation ecosystem in the growing country. Boeing will also support VietJet in improving management capabilities at the airline and in the country. The deal will be reflected on Boeing's Orders and Deliveries website once it is finalized.
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MYGN KR | Hot Stocks07:06 EDT Myriad Genetics announces coverage decision by Kroger Prescription Plans - Myriad Genetics (MYGN) announced that Kroger (KR) Prescription Plans, will provide Vectra DA as a benefit option for Kroger Prescription Plan employer group clients. Myriad Genetics and Kroger Prescription Plans are also in late stage discussions on implementing a similar program for GeneSight, Myriad's proprietary test for aiding in the selection of psychotropic medicines for patients with major depressive disorder.
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GOOG GOOGL | Hot Stocks07:05 EDT European Commission confirms EUR4.34B antitrust fine against Google - The European Commission has fined Google EUR4.34B for breaching EU antitrust rules. "Since 2011, Google has imposed illegal restrictions on Android device manufacturers and mobile network operators to cement its dominant position in general internet search. Google must now bring the conduct effectively to an end within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google's parent company," the Commission stated. Commissioner Margrethe Vestager, in charge of competition policy, said: "Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules."
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AKER | Hot Stocks07:04 EDT Akers Biosciences signs agreement with Appleton Medical Services - Akers Biosciences announces another agreement with a major Independent Sales Representative, or ISR, organization, adding sales and marketing coverage for the company's rapid test for heparin-induced thrombocytopenia, or HIT, across an additional 12 states. The agreement with Appleton Medical Services, based in St. Louis, Missouri, will place Akers Bio's flagship HIT test into the hands of a further 14 speciality medical product sales representatives, focused on implementing solutions into the clinical pathway.
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CTIC | Hot Stocks07:04 EDT CTI BioPharma updates pacritinib program update after FDA meeting - CTI BioPharma conducted a Type B meeting with the FDA for its lead product candidate pacritinib. The purpose of the meeting was to discuss the regulatory pathway for pacritinib. Based on FDA feedback, the company plans to conduct a randomized Phase 3 study in patients with myelofibrosis. The dosing for the Phase 3 study will be determined using the results of the PAC203 Phase 2 study. PAC203 is expected to complete enrollment by the end of 2018, with full top-line data expected in 2Q19. The new Phase 3 study is expected to open in 2019. The Independent Data Monitoring Committee did not identify any drug- or dose-related safety concerns and specifically did not identify any concerns about cardiac or bleeding events. CTI BioPharma announced that a second interim review will be conducted in 3Q18. The PAC203 study is evaluating the safety and efficacy of three dosing schedules over 24 weeks in patients with myelofibrosis previously treated with ruxolitinib. The study is expected to complete enrollment before the end of 2018.
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MS | Hot Stocks07:04 EDT Morgan Stanley reports Q2 annualized return on average common equity of 13.0% - The annualized return on average common equity was 13.0% and the annualized return on average tangible common equity was 14.9% in the current quarter.
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SYBT | Hot Stocks07:03 EDT S.Y. Bancorp names John Schutte to board, expands boards to 13 directors - Stock Yards Bancorp, parent company of Stock Yards Bank & Trust Company, announced that John L. Schutte has joined the Boards of Directors for both the Company and the Bank. The addition of Schutte, which expands both Boards to 13 directors, continues the company's recent focus on board succession planning and promoting leadership continuity in view of mandatory retirements upcoming in 2019. Schutte currently serves as the CEO of GeriMed.
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CBIO | Hot Stocks07:03 EDT Catalyst announces 'positive' interim data from study of Marzeptacog Alfa - Catalyst Biosciences announced interim data from its Phase 2/3 study of subcutaneous prophylactic Factor VIIa variant marzeptacog alfa being developed for the treatment of hemophilia A or B with inhibitors in a poster presentation at the 64th Annual Scientific and Standardization Committee Meeting of the International Society on Thrombosis and Haemostasis in Dublin. The Company also presented the most current data from the Phase 1/2 trial of SQ prophylactic Factor IX candidate CB 2679d/ISU304 being developed for the treatment of hemophilia B. Dr. Howard Levy, CMO, presented the interim results from the MarzAA Phase 2/3 trial in which five of 12 subjects have been enrolled. One subject, with a historical annualized bleed rate of 26.7, has completed the study with one bleed during 96 days of prophylaxis. The subject experienced no bleeds during treatment with 60 microg/kg MarzAA for 50 days and one bleed at Day 46 during treatment with 30 microg/kg MarzAA. Two other subjects with ABRs of 15.9 and 16.6 are currently in the first 50 days of dosing. MarzAA's intravenous half-life of 3.5 hours was increased to 9.5 hours when dosed subcutaneously. Through a cumulative 160 dosed days, no anti-drug antibodies to MarzAA have been detected to date. Dr. Levy also presented the most current data from the CB 2679d/ISU304 Phase 1/2 trial. In Cohort 6, two subjects have been enrolled and achieved FIX trough activity levels greater than30% with one IV dose followed by 9 daily SQ doses. The two subjects, who were cousins, developed neutralizing antibodies to CB 2679d. The nAb was transient in subject C5-01-S02 and was below the level of quantification at a follow up visit. The nAb in subject C5-01-S01 fell below 1 Bethesda Unit at a follow up visit. The nAbs bind to CB 2679d, but not to wildtype FIX. Both Cohort 6 subjects returned to their prior prophylaxis treatment with continued efficacy.
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KPTI | Hot Stocks07:03 EDT Karyopharm initiates rolling submission of NDA to FDA for selinexor - Karyopharm announced that the company has initiated a rolling submission of a New Drug Application, or NDA, to the FDA seeking accelerated approval for selinexor, its novel, oral SINE compound, as a new treatment for patients with penta-refractory multiple myeloma. Patients with penta-refractory myeloma have previously received the two proteasome inhibitors, Velcade and Kyprolis, the two immunomodulatory drugs, or IMiDs, Revlimid, and Pomalyst, and the anti-CD38 monoclonal antibody Darzalex, and their disease is refractory to at least one PI, at least one IMiD, Darzalex and their most recent therapy. The company expects to complete the NDA submission during the second half of 2018. Selinexor has received both Orphan Drug and Fast Track designations from the FDA for this indication.
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MS | Hot Stocks07:02 EDT Morgan Stanley authorizes $4.7B share repurchase program - During the quarter ended June 30, the Firm repurchased approximately $1.25B of its common stock or approximately 24M shares. The Board of Directors authorized a share repurchase of up to $4.7B of common stock beginning in the third quarter of 2018 through the end of the second quarter of 2019.
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MS | Hot Stocks07:00 EDT Morgan Stanley raises quarterly dividend to 30c from 25c per share - Payable on August 15 to common shareholders of record on July 31.
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MS | Hot Stocks06:58 EDT Morgan Stanley reports Common Equity Tier 1 ratio approximately 15.8% at June 30 - As of June 30, 2018, the Firm's Common Equity Tier 1 and Tier 1 risk-based capital ratios under the fully phased-in Standardized Approach were approximately 15.8% and 18.1%, respectively; the fully phased-in Supplementary Leverage Ratio was approximately 6.4%. At June 30, 2018, book value and tangible book value per common share were $40.34 and $35.19,18 respectively, based on approximately 1.7 billion shares outstanding.
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MS | Hot Stocks06:57 EDT Morgan Stanley reports Q2 Institutional Securities net revenues of $5.7B - Institutional Securities net revenues were $5.7 billion reflecting strong performance across our Sales and Trading franchise and Investment Banking, with Global Announced and Completed M&A and Global IPOs ranked #1. Wealth Management net revenues were $4.3 billion with a pre-tax margin of 26.8% reflecting continued improvement in operating leverage. Investment Management net revenues were $691 million on higher management fees. Assets under management of $474 billion reflect continued positive long-term net flows in the quarter.
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MS | Hot Stocks06:56 EDT Morgan Stanley CEO: 'reported robust revenue and earnings growth this quarter' - James Gorman, Chairman and CEO, said, "We reported robust revenue and earnings growth this quarter with strength across all businesses and geographies. The second quarter performance reflected active markets and healthy client engagement. Our strong global franchise positions us well to continue to grow organically across each of our businesses and to deliver operating leverage."
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MS | Hot Stocks06:56 EDT Morgan Stanley raises quarterly dividend to 30c per share - Share repurchase of up to $4.7B authorized through 2Q19.
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USB | Hot Stocks06:51 EDT U.S. Bancorp CEO says Q2 results 'highlighted by record revenue' - Andy Cecere, Chairman, President and CEO, U.S. Bancorp said, "Our second quarter results were highlighted by record revenue, net income and diluted earnings per common share. We continue to deliver industry-leading profitability metrics, including a return on tangible common equity of 19.8%. This quarter, the Federal Reserve conducted its annual stress test and, as in prior years, the results confirmed our ability to withstand severely adverse economic conditions. Following this exercise, we announced a 23% increase in our quarterly dividend, as well as a 15% increase in our stock repurchase authorization, supporting our commitment to maximize shareholder value. In addition to these solid results, we are investing in our future by expanding our digital offerings, which will allow our customers to access us how, when and where they want and enhance their customer experiences. Each and every day our employees exemplify what being the most trusted choice in banking is all about and I want to thank our entire U.S. Bank team, whose commitment to serving all our customers is what ultimately drives our financial success."
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USB | Hot Stocks06:50 EDT U.S. Bancorp reports Q2 efficiency ratio 54.8%
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BRO | Hot Stocks06:49 EDT Brown & Brown unit acquires certain assets of Tricast Holdings - J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, and Greg Rucinski, the founder of Tricast, announced that a subsidiary of Brown & Brown, has acquired certain assets of Tricast Holdings, LLC; Tricast, LLC; and PRx Advisors, LLC d/b/a PSRx Advisors. A licensed pharmacist, Greg Rucinski founded Tricast in 1997. Tricast specializes in providing pharmacy benefit management consulting and services to customers throughout the United States, including pricing audits, rebate audits, prescription drug event audits, rejected claims analysis, Medicare eligibility audits, request for proposal services for PBM selection, and contract renegotiation services. Tricast has annual revenues of approximately $2.5M. Following the acquisition, the Tricast team will continue doing business from its existing Milwaukee, Wisconsin office, but will operate as part of Brown & Brown's existing IPC/EvergreenRx business located in O'Fallon, Missouri. Christine Johnston will continue to lead the existing O'Fallon Missouri location, and the combined offices will operate under the leadership of Mr. Rucinski under the new brand, "PillarRx Consulting."
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LLY PFE | Hot Stocks06:49 EDT Pfizer and Eli Lilly's tanezumab in osteoarthritis meets three primary endpoints - Pfizer (PFE) and Eli Lilly (LLY) announced that a 16-week Phase 3 study in patients with osteoarthritis pain evaluating subcutaneous administration of tanezumab, an investigational humanized monoclonal antibody, met all three co-primary endpoints. The study demonstrated that patients who received two doses of tanezumab separated by eight weeks experienced a statistically significant improvement in pain, physical function and the patients' overall assessment of their OA, compared to those receiving placebo. Tanezumab is also being evaluated for chronic low back pain and cancer pain. Preliminary safety data showed that tanezumab was generally well tolerated, with approximately 1% of patients discontinuing treatment due to adverse events. Rapidly progressive osteoarthritis was observed in tanezumab-treated patients at a frequency of less than 1.5%, and was not observed in the placebo arm. There were no events of osteonecrosis observed in the trial. No new safety signals were identified. The FDA granted Fast Track designation for tanezumab for the treatment of OA pain and CLBP in June 2017. In 2013, Pfizer and Lilly entered into a worldwide co-development and co-commercialization agreement for the advancement of tanezumab.
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USB | Hot Stocks06:47 EDT U.S. Bancorp reports Q2 net charge-off ration 0.48%
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USB | Hot Stocks06:47 EDT U.S. Bancorp reports Q2 book value per common share $27.02
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USB | Hot Stocks06:46 EDT U.S. Bancorp reports Q2 net interest margin 3.13%
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USB | Hot Stocks06:45 EDT U.S. Bancorp reports Q2 return on average assets of 1.54% - Reports return on average common equity of 15.3%.
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PH | Hot Stocks06:39 EDT Parker-Hannifin's Parker Aerospace an Early Adopter for Airbus' Skywise platform - Parker Hannifin business unit Parker Aerospace is joining Skywise, Airbus' open digital platform for the aviation industry. Parker will be the first supplier from the U.S. to sign an Early Adopter Agreement for the Airbus cloud application providing aircraft data analytics. The aim of the Skywise platform is to create a single access point for Airbus and suppliers to share relevant data, perform powerful data analytics, and make better-informed decisions. Skywise contains a broad range of analysis and visualization tools for data modeling, signal analysis, and application creation. Parker provides a wide array of components to Airbus. As a Skywise early adopter, Parker will be involved in the initial beta phase to test the platform, aggregate data, perform analysis, and identify lessons learned to improve Skywise results.
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FULT | Hot Stocks06:36 EDT Fulton Financial now sees FY18 NIM up 7-12bps over FY17 - Fulton Financial said in slides being presented on its Q2 earnings conference call that it sees average annual loan and core deposit growth rates in the low to mid single digits for FY18 vs. its prior outlook of mid single digits. The company now sees flat to low single digit non-interest income vs. its prior outlook of low single digit, and still sees low single digit growth in non-interest expense including amortization of tax free investments. For FY18, the outlook for NIM is now an increase of 7-12bps over 2017, including the impact of tax reform on tax equivalent net interest income; Fulton previously forecast FY18 NIM up 5-10bps. Its FY18 effective tax rate is anticipated to range between 11% to 14% depending on level of tax credits realized.
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TXT | Hot Stocks06:34 EDT Textron CEO says seeing 'improving commercial demand' across many end markets - "Operationally, we saw continued strength in our execution with margin improvements at Aviation, Systems, and Bell," said Textron Chairman and CEO Scott C. Donnelly. "We are encouraged by revenue growth resulting from improving commercial demand across many of our end markets."
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TXT | Hot Stocks06:33 EDT Textron sees one-time gain of approximately $400M in Q3 - Textron expects a one-time gain of approximately $400M from the Tools & Test divestiture in the third quarter of 2018, which is not reflected in this updated outlook.
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TXT | Hot Stocks06:32 EDT Textron raises FY18 cash flow view to $750M-$850M - Up $50M from prior guidance. "Our updated outlook reflects our strong first-half performance and the continuation of our strategy of growth through new product investments and acquisitions to increase long-term shareholder value," CEO Donnelly concluded.
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BA | Hot Stocks06:09 EDT Boeing announces agreements with ANTONOV, IWG and Cargolux - Boeing, through its subsidiary Aviall, announced it has signed agreements with Ukraine's ANTONOV, Canada's International WaterGuard, and Luxembourg's Cargolux. Ukraine's ANTONOV signed an agreement with Aviall, including an intent to support the production of their newest aircraft program, the AN-1X8. Aviall will manage supply chain procurement for ANTONOV production, including logistics and forward stocking concepts, helping to fulfill orders of this aircraft program and further aftermarket support. International WaterGuard, or IWG, signed a ten-year exclusive distribution agreement with Aviall for lavatory water heaters which fit Boeing 737, 747, 767 and 777 fleets. Canada-based IWG has been supplying potable water system components to the aircraft industry for over 30 years. Cargolux has signed an agreement for Aviall parts support. The arrangement allows Cargolux to continue operating its 747-400F fleet by meeting engine induction needs for up to 33 engine refurbishment shop visits through cost effective operations.
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CPWR | Hot Stocks06:08 EDT Compuware acquires XaTester and partners with Parasoft - Compuware announced a product acquisition, enhancements to Topaz for Total Test, and a partnership. Compuware has acquired XaTester from Xact Consulting A/S, enabling developers to create unit tests for both batch and CICS-based programs written in COBOL, PL/I and Assembler. The company has enhanced Topaz for Total Test to provide automated unit testing for IMS batch and transactional applications. These enhancements complement Topaz for Total Test's existing support for batch applications written in COBOL as well as its integration with cross-platform DevOps tools. Additionally, Compuware has partnered with Parasoft, an innovator in end-to-end test automation for software development. The first deliverable for the partnership is integration between Parasoft SOAtest and Topaz for Total Test. This integration enables developers working on mainframe applications to test API calls between mainframe and non-mainframe systems.
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TGT | Hot Stocks06:05 EDT Target says one-day sale generates biggest online shopping day of 2018 - Hot offers drove the highest single day of traffic and sales of 2018 on Target.com as savings kicked off early Tuesday morning, with day-long deals on a broad assortment of Target-exclusive brands and top national brands. Nearly 90% of yesterday's Target.com orders will be fulfilled by Target stores.
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UTX AL | Hot Stocks05:55 EDT Pratt & Whitney announces additional GTF Engine orders from Air Lease - Pratt & Whitney, a division of United Technologies (UTX), and Air Lease (AL) announced an order for Pratt & Whitney GTF engines to power a pre-existing order between Airbus and ALC for 26 firm A320neo family aircraft. ALC previously ordered GTF engines to power 30 firm A320neo family aircraft. With today's announcement, ALC will manage a total of 56 GTF-powered A320neo family aircraft.
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CUI | Hot Stocks05:39 EDT CUI Global subsidiary awarded GasPTi order - CUI Global announced that its wholly-owned energy subsidiary, Orbital Gas Systems, received an initial order for its GasPTi analyzers from one of Europe's largest industrial manufacturing companies, which plans to deploy the GasPTi analyzers in its biomethane-to-grid solution.
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LSCC | Hot Stocks05:37 EDT Lattice Semiconductor to discontinue millimeter wave business - Lattice Semiconductor announced the company will discontinue its millimeter wave business, which is expected to result in approximately $25 million of primarily non-cash restructuring and impairment charges in the second quarter of 2018, and an annualized reduction in operating expenses of approximately $13 million. The company does not expect a significant impact to its potential full year 2018 revenue due to strength in other areas of its business. Lattice is committed to supporting customers' product and support requirements during the transition period.
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UTX | Hot Stocks05:36 EDT Pratt & Whitney signs EngineWise service agreement with Tianjin, West Air - Pratt & Whitney, a division of United Technologies, announced that Tianjin Airlines and West Air signed a long-term EngineWise Comprehensive service agreement. The agreement will cover Tianjin Airlines and West Air's fleet of 20 firm Airbus A320neo family aircraft, operated by Tianjin Airlines and West Air and powered by Pratt & Whitney GTF engines.
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LMT NOC | Hot Stocks05:33 EDT Lockheed Martin, Northrop Grumman JV awarded $170M in orders by U.S. Army - LONGBOW LLC and the U.S. Army have definitized contracts valued at $170.5M to provide LONGBOW Fire Control Radar, or FCR, hardware for Apache AH-64E helicopters supporting U.S. Army lots 7 and 8 plus three international customers. LONGBOW LLC is a joint venture of Lockheed Martin (LMT) and Northrop Grumman (NOC). The contracts include LONGBOW FCR Mast Mounted Assemblies, or MMA, Radar Electronics Units, or REU, and spares for the U.S. Army, United Kingdom, Saudi Arabia and Qatar, making Qatar the 13th international customer to receive LONGBOW FCR. Production will extend through April 2021 at Lockheed Martin's Orlando and Ocala, Fla., facilities and at Northrop Grumman's Baltimore, Maryland, facility.
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KTOS | Hot Stocks05:31 EDT Kratos Defense enters strategic partnership with Colas, Royal Truck & Equipment - Kratos Defense announced that its Unmanned Systems Division, or USD, has entered into a strategic teaming agreement with Colas, a leading international contractor specializing in the design, construction, and maintenance of roadways, tunnels, and bridges, and Royal Truck & Equipment, a leading truck equipment up-fitter to support nationwide deployment of the Autonomous Impact Protection Vehicle, or AIPV, in the United Kingdom, an unmanned vehicle system. This formal alliance is an important step in facilitating efforts to move toward nationwide UK deployment of the AIPV as standard equipment to support road construction operations. The team will ensure that the AIPV aligns with in-country regulations and will contribute to the promotion of the system to ensure that stakeholders are aware of the critical importance of this innovative safety system.
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MAXR | Hot Stocks05:30 EDT Maxar Technologies MDA unit awarded contract by Effective Space - MDA, a Maxar Technologies company, announced that a contract was signed between its recently acquired Neptec UK company and Effective Space, the UK company pioneering last-mile logistics in space, for the supply of a space flight LIDAR and infrared camera for its on-orbit servicing SPACE DRONE spacecraft. Capable of extending the life of ageing satellites by as many as 15 years, the SPACE DRONE spacecraft uses MDA's LIDAR and infrared camera to confidently and safely approach and dock with orbiting geostationary satellites. Two SPACE DRONE spacecraft will be launched into orbit in 2020, as part of a $100 million contract with a major regional satellite operator. MDA will execute the project from its newly expanded United Kingdom business.
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MAXR | Hot Stocks05:27 EDT Maxar Technologies receives commitment from UKSA valued at C$1.7M - MDA, a Maxar Technologies company, announced it has received a commitment from the UK Space Agency, or UKSA, to develop leading edge space robotics capabilities in the United Kingdom. The agreement, valued at C$1.7M, enhances MDA's ability to lead a European consortium bidding on the first phase of the European Space Agency's, or ESA, Space Servicing Vehicle, or SSV, Robotics Program.
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KOS | Hot Stocks05:23 EDT Kosmos announces 'successful' arbitration - Kosmos Energy announced that its subsidiary Kosmos Energy Ghana HC was successful in its arbitration against Tullow Ghana Limited in a dispute over responsibility for expenditures stemming from termination of the West Leo drilling rig contract. The tribunal's Final Award in the arbitration was delivered to the parties by the International Chamber of Commerce on July 17, 2018. As a consequence of the arbitration award, Kosmos will not be required to fund Kosmos' portion of Tullow's liability to Seadrill, estimated by Tullow to be approximately $50.8M. Kosmos will also be reimbursed by Tullow for approximately $14M plus interest, related to amounts previously paid under protest as well as certain costs and fees of pursuing the arbitration. In June 2016, Kosmos Energy Ghana HC filed a Request for Arbitration with the International Chamber of Commerce against Tullow Ghana Limited in connection with a dispute arising under the Deepwater Tano Joint Operating Agreement. At dispute was Kosmos Energy Ghana HC's responsibility for expenditures arising from Tullow Ghana Limited's contract with Seadrill for use of the West Leo drilling rig once partner-approved 2016 work program objectives were concluded. Tullow sought to charge such expenditures to the Deepwater Tano joint account. Kosmos disputed that these expenditures were chargeable to the Deepwater Tano joint account on the basis that the Seadrill West Leo drilling rig contract was not approved by the Deepwater Tano operating committee pursuant to the Deepwater Tano Joint Operating Agreement, and that the Seadrill West Leo drilling rig contract had not been entered into in connection with joint operations.
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RHHBY | Hot Stocks05:10 EDT Genentech granted Breakthrough Therapy Designation for Tecentriq with Avastin - Genentech, a member of the Roche Group, announced that the FDA has granted Breakthrough Therapy Designation for Tecentriq in combination with Avastin as an initial treatment for people with advanced or metastatic hepatocellular carcinoma, or HCC, the most common form of liver cancer. The designation is based on data from a Phase Ib study assessing the safety and clinical activity of the combination of Tecentriq and Avastin.
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UTX | Hot Stocks05:06 EDT UTC Aerospace surpasses $565M in new commercial wheel and break wins in 2018 - UTC Aerospace Systems, a unit of United Technologies (UTX), announced that it has surpassed $565M in new commercial wheel and brake selections since the beginning of 2018. This encompasses more than 875 firm scheduled aircraft deliveries across 15 airlines, and multiple Boeing (BA) and Airbus (EADSY) platforms. UTC Aerospace Systems is making critical investments in its global MRO infrastructure. In London, the company recently relocated to a new, 50,000 square-foot facility that is 50% larger than the previous site. The London Service Center is one of six that UTC Aerospace Systems' wheel and brake division maintains around the world, and it serves as the hub for wheel and brake MRO support across Europe, the Middle East and Africa. On average, the London center services 14,000 wheels annually, along with 5,000 heat sinks and 2,500 brakes, for more than 60 airline customers. Similarly, the company previously announced that it had doubled the size of its Hong Kong wheel and brake MRO facility, moving to a new, 66,000-square foot location. The Hong Kong facility serves as the UTC Aerospace Systems' hub for wheel and brake MRO support across the Asia Pacific region.
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