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Stockwinners Market Radar for August 31, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| SAGE | Hot Stocks18:43 EDT Sage Therapeutics: The Lancet publishes data from pivotal trials of brexanolone - Sage Therapeutics announced The Lancet has published an integrated analysis across three, double-blind, randomized, placebo-controlled studies of brexanolone injection in women with postpartum depression. This new analysis, published for the first time, demonstrated significant and clinically meaningful reductions in HAM-D total score, a common measure of depression severity, following treatment with brexanolone 90 microg/kg/h at the primary timepoint of 60 hours compared with placebo. Statistically significant improvement in the HAM-D total score was first observed within 24 hours of initiating treatment and treatment response was durable through the 30-day follow-up. The most common adverse events during treatment across all studies were headache, dizziness and somnolence. The FDA has conditionally accepted the proprietary name ZULRESSO for Sage's intravenous formulation of brexanolone.
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| BLDP | Hot Stocks18:33 EDT Ballard Power to divest certain non-core assets of its subsidiary, Protonex - Ballard Power Systems announced that it has entered into a definitive agreement to divest certain non-core assets of its subsidiary, Protonex, related to the Power Manager business to Revision Military Ltd., a private U.S.-based company, for up to $16M in cash. Ballard will retain certain assets related to fuel cell propulsion systems for military and commercial unmanned vehicles. Terms of the transaction include upfront consideration of $4.75M to Ballard - payable in cash and note - subject to a customary working capital adjustment, and up to a further $11.25M, based on achievement of specific sales objectives during a 12-month earn-out period. The transaction is expected to close within the next 60 days, subject to customary closing conditions. In 2015 Ballard paid approximately $17.5M in shares and cash to acquire Protonex, which included the Power Manager business, a Solid Oxide Fuel Cells business which was divested in January 2018, and the unmanned vehicle business.
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| AAV | Hot Stocks18:13 EDT Advantage Oil & Gas announces U.S. delisting and deregistration - On August 31, 2018 the board of directors of Advantage Oil & Gas approved the delisting of the company's common shares from the New York Stock Exchange. On August 31, 2018, the company notified the NYSE of its intention to file a Form 25 with the SEC on or about September 10, 2018 to effect the voluntary delisting from the NYSE of the Common Shares. On or about September 20, 2018 the company intends to file a Form 15 with the SEC to terminate the registration of the common shares and suspend the company's reporting obligations under the Securities Exchange Act of 1934, as amended. The company made the decision to delist the common shares from the NYSE and terminate registration under the Exchange Act following the company's review and careful consideration of the administrative burden and the costs and benefits of being a U.S. reporting company. The savings derived from this change are expected to be financially meaningful. Advantage will continue to comply with its Canadian continuous disclosure obligations and the Common Shares will continue to trade on the Toronto Stock Exchange.
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| GOOG GOOGL | Hot Stocks18:06 EDT Google to restrict ads in third-party tech support services globally - Google said in a blog post that it has decided to begin restricting ads in third-party tech support services globally. "For many years, we've consulted and worked with law enforcement and government agencies to address abuse in this area," the company said. "As the fraudulent activity takes place off our platform, it's increasingly difficult to separate the bad actors from the legitimate providers. That's why in the coming months, we will roll out a verification program to ensure that only legitimate providers of third-party tech support can use our platform to reach consumers." Reference Link
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| WMT | Hot Stocks17:49 EDT Walmart EVP Biggs sells 18,421 common shares - In a regulatory filing, Walmart executive vice president M. Brett Biggs disclosed the sale of 18,421 common shares of the company at a price of $96.1439 per share.
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| RHE | Hot Stocks17:33 EDT Regional Health Properties discloses NYSE listing noncompliance - Regional Health Properties announced that, on August 28, 2018, that the Company received a deficiency letter from NYSE American LLC stating that the Company is not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide. Specifically, the Letter informed the Company that the Exchange has determined that shares of the Company's securities have been selling for a low price per share for a substantial period of time and, pursuant to Section 1003(f)(v) of the Company Guide, the Company's continued listing is predicated on the Company effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable period of time, which the Exchange determined to be no later than February 27, 2019. As a result of such noncompliance, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide. The Company intends to regain compliance with the continued listing standards set forth in the Company Guide by undertaking a measure or measures that are in the best interests of the Company and its shareholders. If the Company fails to demonstrate a sustained price improvement or effect a reverse stock split of its common stock by February 27, 2019, then the Exchange may commence delisting procedures. The Company does not expect the Letter to affect the Company's business operations or its reporting obligations under the Securities and Exchange Commission regulations and rules.
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| ASPS | Hot Stocks17:32 EDT Altisource names Michelle Esterman CFO - According to a regulatory filing, on August 31, 2018, Altisource Portfolio Solutions S.A. announced the appointment of Michelle D. Esterman as its Chief Financial Officer effective as of August 27, 2018. Esterman previously served as the company's CFO from March 2012 to October 2017 and as its Executive Vice President, Finance since October 2017. There are no transactions in which Esterman has an interest requiring disclosure under Item 404a of Regulation S-K. Indroneel Chatterjee has been assigned the role of Senior Vice President, New Business Initiatives and is no longer serving as the company's CFO.
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| FBSI | Hot Stocks17:31 EDT First Bancshares announces 25,000 share repurchase program - First Bancshares announced that the company's board authorized the repurchase of an aggregate of 25,000 shares of the company's common stock. The repurchase program will be commenced immediately and will be funded by the company's available cash. The company may suspend or discontinue the repurchase program at any time.
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| NXEO | Hot Stocks17:15 EDT Legion Partners reports 5.04% stake in Nexeo Solutions
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| RTN | Hot Stocks17:11 EDT Raytheon awarded $281.9M U.S. Air Force contract - Raytheon has been awarded a $281,922,053 predominantly fixed-price-incentive, undefinitized contractual action for fiscal 2017 and 2018 DAS-4 production and upgrades. This contract provides for 127 AN/DAS-4 Multi-Spectral Targeting System Model B high definition/target location accuracy turrets; 40 DAS-1A to DAS-4 turret unit upgrades; one lot of initial shop replaceable unit spares; one lot of production support - capacity increase; and one lot of associated data. Work will be performed in McKinney, Texas, and is expected to be completed by Sept. 30, 2020.
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| ARCW | Hot Stocks17:03 EDT ARC Group names Aaron Willman as CFO - ARC Group Worldwide announced Aaron Willman will join the company's management team to serve as CFO Willman succeeds R. Brian Knaley, who will leave the company. Willman has previously served as General Manager of the Company's ARC Stamping subsidiary since 2014, also known as Kecy Metal Technologies, one of the industry's leading precision metal stamping companies. Prior to his affiliation with Kecy in 2013, Willman was employed by Plante Moran from 2008 to 2012. The effective date for the transition of the CFO position will occur on the earlier of: (i) the first business day following the filing of the company's annual report on Form 10-K for the fiscal year ended June 30, 2018; or (ii) September 20, 2018.
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| DIS | Hot Stocks17:03 EDT Disney World teamsters reach tentative agreement - A tentative agreement has been reached for members of Teamsters Local 385 who work as bus drivers, laundry workers, characters, parking attendants and ranch hands at Walt Disney World. The contract will be voted on September 5 and 6, 2018. If ratified, the contract will be in effect until October 1, 2022. The contract comes after more than a year of negotiations with the company and the Service Trades Council Union, a coalition of Teamsters Local 385 and the five other unions who represent more than 39,000 workers at Walt Disney World. The agreement covers all of the workers who fall under the STCU's local unions. Under the new collective bargaining agreement, Disney World workers will receive a minimum of $4.75 in wage increases over the lifetime of the contract, with everyone at the resort getting a minimum increase of $2.50 by March 6, 2019. Employees will receive retroactive pay back to September 24, 2017, as well as a $1,000 bonus. All employees will be at a minimum starting rate of $15 by 2021. The contract has no cuts to health care or pension benefits, and the negotiating committee successfully fought back against concessions in scheduling, overtime, representation, and paid time off that the company pushed for during bargaining.
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| ARCW | Hot Stocks17:01 EDT ARC Group names Aaron Willman as CFO - ARC Group Worldwide announced Aaron Willman will join the company's management team to serve as CFO Willman succeeds R. Brian Knaley, who will leave the company. Willman has previously served as General Manager of the Company's ARC Stamping subsidiary since 2014, also known as Kecy Metal Technologies, one of the industry's leading precision metal stamping companies. Prior to his affiliation with Kecy in 2013, Willman was employed by Plante Moran from 2008 to 2012.
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| SPX... | Hot Stocks16:41 EDT Canada's Freeland says it is important that any trade deal good for auto workers - Speaking in Washington, D.C., Canada's foreign minister Chrystia Freeland said it is important that any trade deal with the U.S. is good for auto workers. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
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| XOG | Hot Stocks16:30 EDT Point72 Asset Management reports 5.2% passive stake in Extraction Oil & Gas
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| ANY | Hot Stocks16:28 EDT Cyrus Capital lowers stake in Sphere 3D to 14.4% from 16.2% -
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| LOCO | Hot Stocks16:20 EDT El Pollo Loco enters stock buyback program of up to $20M - On July 30, 2018 and July 31, 2018, the board of directors of El Pollo Loco Holdings, Inc. authorized a stock repurchase program, the company said in a regulatory filing. The company entered into a stock repurchase plan on August 28, 2018, which allows for repurchases of up to $20M of the company's common stock. The Stock Repurchase Plan will become effective on November 6, 2018 and, if not terminated sooner by other provisions of the Stock Repurchase Plan, will terminate on June 26, 2019. The Stock Repurchase Plan may also be suspended or terminated at any time upon prior notice.
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| HI MLM | Hot Stocks16:16 EDT Hillenbrand names Timothy Ryan as Chief Accounting Officer - Hillenbrand (HI) has named Timothy Ryan as its Vice President, Chief Accounting Officer and Controller, effective September 24, 2018. Ryan brings more than 20 years of finance and accounting experience to Hillenbrand, having served most recently as Assistant Corporate Controller at Martin Marietta Materials (MLM).
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| SFE | Hot Stocks16:16 EDT Safeguard Scientifics CFO David Kille to step down on September 21st - Safeguard Scientifics announced that Senior Vice President and Chief Financial Officer David Kille has submitted his resignation to pursue another professional opportunity and will leave the Company on September 21. Safeguard expects to name Mr. Kille's replacement shortly.
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| DUK | Hot Stocks16:15 EDT Duke Energy Kentucky requests regulatory review of nat gas distribution rates - Following significant investments to make Northern Kentucky's natural gas distribution system more reliable and resilient for customers, Duke Energy Kentucky filed a request with its state regulator, the Kentucky Public Service Commission, to review the company's natural gas distribution rates. As part of its request, Duke Energy Kentucky seeks approval to increase its current natural gas distribution rates by approximately $10.5M. Today's filing represents Duke Energy Kentucky's first request to change its natural gas rates in nearly a decade. The company delivers natural gas to nearly 100,000 customers in seven counties in Northern Kentucky.
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| AOI | Hot Stocks16:14 EDT Wasserstein Debt Opportunities reports 5.04% passive stake in Alliance One
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| VRAY | Hot Stocks16:08 EDT Orbimed Advisors lowers stake in ViewRay to 6.9% from 8.2%
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| RMD | Hot Stocks16:06 EDT ResMed files patent infringement suit against Fisher & Paykel - ResMed filed a petition with the United States International Trade Commission to stop the infringement of its patented technology by New Zealand-based medical device manufacturer Fisher & Paykel Healthcare. In the International Trade Commission, ResMed seeks an order banning the importation and sale in the United States of Fisher & Paykel's Simplus full face mask, Eson nasal mask and Eson 2 nasal mask, for infringing five ResMed patents relating to mask system and cushion design. ResMed's new case asserts that: F&P's Simplus infringes each of the five asserted ResMed patents and F&P's Eson and Eson 2 infringe three of the five patents, which relate to modular mask systems. Also, ResMed filed a new lawsuit in the United States District Court for the Southern District of California, seeking monetary damages based on Fisher & Paykel's patent infringement, plus an injunction against future sales of infringing masks in the United States.
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| HUBG | Hot Stocks16:04 EDT Hub Group sells Mode Transportation subsidiary for $238.5M - Hub Group entered into a definitive agreement and concurrently sold its subsidiary, Mode Transportation, LLC to an affiliate of York Capital Management for approximately $238.5M. The transaction is a result of the previously announced exploration of strategic alternatives for Mode that was undertaken by the Hub Group Board of Directors as part of their ongoing review of alternatives for creating shareholder value. The sale does not include the Temstar business which is being retained by Hub Group and was previously included in the Mode segment for financial reporting purposes. The purchase price is subject to certain post-closing adjustments. The sale price is equal to approximately 10x Mode's adjusted EBITDA for the 12 months ended June 30, 2018, including certain incremental stand-alone expenses and excluding the results of the Temstar business. Cash proceeds will be used for acquisitions of businesses in both new and existing service lines. We are focused on acquiring high quality businesses that will deepen our relationships with our customers, strengthen our platform for growth and create shareholder value.
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| AQST | Hot Stocks14:33 EDT Aquestive Therapeutics announces tentative FDA approval for Sympazan - Aquestive Therapeutics announced that Sympazan oral film has received tentative approval by the U.S. Food and Drug Administration for the adjunctive treatment of seizures associated with Lennox-Gastaut Syndrome in patients 2 years of age or older. Currently, clobazam is marketed as ONFI and offered in two formulations - either tablet or oral suspension. Sympazan is a proprietary formulation based on Aquestive's proven PharmFilm technology. Multiple pharmacokinetic studies were conducted to compare Sympazan with ONFI. Based on the studies, Sympazan oral film was demonstrated to be bioequivalent to clobazam tablets and have comparable safety. Final FDA approval for Sympazan is pending the expiration of the orphan drug exclusivity period for ONFI, which is expected in October 2018.
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| LGND | Hot Stocks13:27 EDT Ligand CEO sells over $900,000 worth of shares - Ligand Pharmaceuticals CEO John Higgins disclosed the sale of 3,500 shares at a price of $258.25. Higgins continues to own 85,419 shares of Ligand. The stock is up $2.34 to $259.96 in afternoon trading.
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| BHGE | Hot Stocks13:06 EDT Baker Hughes reports U.S. rig count up 4 to 1,048 rigs - Baker Hughes reports that the U.S. rig count is up 4 rigs from last week to 1,048, with oil rigs up 2 to 862, gas rigs up 2 to 184, and miscellaneous rigs unchanged at 2.
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| BAYRY | Hot Stocks12:39 EDT Bayer announces FDA approval for hemophilia A treatment Jivi - Bayer announced that the U.S. Food and Drug Administration has approved Jivi for the routine prophylactic treatment of hemophilia A in previously treated adults and adolescents 12 years of age or older. The initial recommended prophylactic regimen for Jivi is twice weekly with the ability to dose every five days and further individually adjust to less or more frequent dosing based on bleeding episodes. The FDA also approved Jivi for on-demand treatment and the perioperative management of bleeding in the same population.
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| F | Hot Stocks12:13 EDT Morgan says Moody's Ford downgrade puts focus on need for 'decisive' action - Shares of Ford (F) were slipping near midday after an analyst from Morgan Stanley commented on the recent Moody's downgrade of the car maker's investment rating, saying the rating cut is an "important catalyst" to further focus investor and management attention on the risks and opportunities "inherent in the Ford story." MOODY'S DOWNGRADE: Earlier this week, Moody's Investors Service said it downgraded the rating of Ford to a notch above junk bond status, adding that the outlook is negative. The firm warned that the status could be further cut as the car maker struggles overseas and invests roughly $11B on a turnaround plan. A Moody's spokesman told the Detroit Free Press that the Baa3 rating on Ford "signifies the likelihood of a default." The firm added that investments in the company's turnaround plan are necessary, but it will take years before such investments result in better performance. MORGAN'S THOUGHTS: In a research note to investors, Morgan Stanley analyst Adam Jones maintained an Overweight rating and $15 price target on Ford, saying that the Moody's downgrade helps focus the attention of the markets across the car maker's cap structure on the need for decisive strategic action. While Jones said there is still enough time to execute, he wishes he knew the plan. The analyst noted that the downgrade comes despite a bull market in the U.S. economy and marks "another sign" that the company must executive "significant structural change." Jones forecast that Ford's free cash flow will slip "significantly" in 2019 compared to 2018 and said that the company must begin to execute more aggressively on fitness initiatives by year end. WHAT'S NOTABLE: Reuters reported that Ford president of North America Kumar Galhotra told reporters during a conference call that the company has killed a plan to sell a Chinese-made small vehicle in the U.S. due to the prospect of higher U.S. tariffs. Galhotra noted that the decision will not cost jobs or have a major impact on the company's U.S. sales because the vehicle would have been a niche car for the U.S., the report says. The move comes as President Trump is escalating a trade dispute with China, with Trump having already imposed duties on Chinese-made vehicles of up to 25%, Reuters noted. PRICE ACTION: Near noon, Ford shares were roughly 2% lower at $9.50.
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| GES | Hot Stocks12:03 EDT GUESS?, TikTok partner to launch branded content in the U.S. - GUESS? and TikTok have partnered to launch TikTok's first branded content in the USA and first fashion branded content globally. TikTok, Musical.ly, a short-form video content app which serves as an incubation hub for digital culture, is dominating the social community platform space. In the first quarter of 2018, TikTok was the world's most downloaded iOS app, according to US research firm Sensor Tower. In an increasingly visual social media landscape, GUESS and TikTok are bringing fashion content to the Millennials and Gen Z generations through their preferred medium - short-form video. GUESS will be launching the first ever fashion takeover on TikTok on Sept 1, 2018 that will directly lead to the first TikTok promoted hashtag challenge in the US. As each TikTok user opens the app during the GUESS brand flight, they will be directed to the #InMyDenim challenge. The phenomenon of hashtag challenges spreading across the globe are inspiring millions of users to participate organically and enthusiastically in viral call-to-actions whether for a cause or for fun. The #InMyDenim hashtag challenge will run from Sept 1, 2018 through Sept 6, 2018 marking the first official launch of TikTok's US brand partnerships.
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| EDN | Hot Stocks12:00 EDT Edenor rises 15.3% - Edenor is up 15.3%, or $3.00 to $22.60.
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| PAM | Hot Stocks12:00 EDT Pampa Energia rises 16.0% - Pampa Energia is up 16.0%, or $4.17 to $30.20.
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| SUPV | Hot Stocks12:00 EDT Grupo Supervielle rises 17.1% - Grupo Supervielle is up 17.1%, or 91c to $6.24.
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| T... | Hot Stocks11:33 EDT Box Office Battle: 'Crazy Rich Asians' looking for third weekend win - AT&T (T) subsidiary Warner Bros.' "Crazy Rich Asians," which topped the box office in its first week of release with a $25.2M opening weekend and again last week with a $25M weekend, is expected to win the box office again. The romantic comedy, directed by John Chu and featuring a majority Asian cast, is expected to earn $25M over the three-day weekend and $30M over the four-day holiday weekend, its third at theaters. Warner Bros.' sci-fi thriller "The Meg," starring Jason Statham and an enormous shark, is expected to earn an additional $12M over the three-day weekend and $15M over the four-day weekend, its fourth weekend at theaters. Rounding out the weekend are Viacom (VIA, VIAB) subsidiary Paramount's action film "Mission: Impossible - Fallout," which is seen to bring in about $9M/$12M, and Disney's (DIS) family film "Christopher Robin," which is expected to gross about $7M/$9M. Publicly traded companies in the space include 21st Century Fox (FOX, FOXA), Comcast (CMCSA, CMCSK), Lionsgate (LGF.A, LGF.B), and Sony (SNE).
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| PZZA | Hot Stocks10:56 EDT Papa John's founder sues board and CEO over 'irreparable harm' - Papa John's founder and former CEO John Schnatter sued the company's board and CEO in Delaware, according to multiple media reports. Schnatter in a court filing last night sued the board and CEO Steve Ritchie to stop the "irreparable harm those individuals are causing due to their repeated, and ongoing, breaches of the duties of loyalty and care they owe to the company," Reuters adds, citing a statement from Schnatter. Reference Link
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| KMI | Hot Stocks10:38 EDT Kinder Morgan reports closing of Trans Mountain Pipeline transaction - Kinder Morgan Canada Limited announced that the Trans Mountain Pipeline system and the Trans Mountain Expansion Project, or TMEP, have been indirectly acquired by the Government of Canada, through Trans Mountain Corporation, a subsidiary of the Canada Development Investment Corporation, for cash consideration of C$4.5B. The sale price is subject to customary purchase price adjustments as provided in the purchase agreement. The KML board plans to complete its ongoing deliberations regarding the use of the after-tax net proceeds of the transaction and announce a final determination after market close on September 4, 2018. In connection with the closing, KML also replaced its existing C$500M secured revolving credit facility with a new 4-year, C$500M unsecured revolving credit facility for working capital purposes. Kinder Morgan, Inc. holds an approximately 70% majority voting interest in KML and a corresponding 70% economic interest in KML's business and assets.
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| BTC... | Hot Stocks10:35 EDT The Intersection: Crypto and Wall Street This Week - As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. 1. EU TO REVIEW CRYPTO REGLUATION: Finance ministers from the European Union will discuss a number of challenges posed by the increasing popularity of digital assets and whether rules should be tightened when they meet on Sept. 7 in Vienna, Bloomberg reported Wednesday. The issues include a general lack of transparency and cryptocurrency's potential to be misused for money laundering, tax evasion and terrorist financing. 2. CHINESE TECH FIRMS BLOCK CRYPTO FORUMS, TRADING: China's three largest technology firms Baidu (BIDU), Alibaba (BABA) and Tencent (TCEHY) are banning cryptocurrency-related activities from their platforms, The Next Web reported Monday. Baidu has banned at least two popular crypto chat rooms from its platform, while Tencent's WeChat blocked a series of cryptocurrency media outlets and announced it will ban cryptocurrency trading. In addition, Alibaba's Ant Financial said it will restrict or block accounts that trade cryptocurrency. 3. JAPAN TECH FIRMS DOUBLE DOWN ON DIGITAL ASSETS: Despite the drop in value of bitcoin and other cryptocurrencies, some of Japan's biggest technology companies are doubling down on the industry, Nikkei Asian Review reported Friday. Japanese internet service company Rakuten announced it is acquiring local crypto exchange everybody's bitcoin Inc. for Y265M, or $2.4M, and online chat service provider Line Corp. (LN) plans to launch its first original cryptocurrency, LINK, in its cryptocurrency exchange Bitbox. 4. SEVEN STARS ANNOUNCES NAME CHANGE, JV: On Monday, Seven Stars Cloud Group (SSC) announced the adoption of Ideanomics as its new business name, subject to shareholder approval. The use of the new name for the company is aligned with the company's vision and mission for transforming traditional assets and their associated industries into the asset digitization era, the company said. On Tuesday, the company announced a joint venture with Hong Kong-based parent company of I-House Aladdin Fintech in order to deliver global real estate asset digitization and post-digitization services. 5. BLOCKCHAIN JOBS BOOM IN ASIA: Blockchain and cryptocurrency positions are increasingly appealing to job seekers in Asia, even as cryptocurrency prices have struggled, CNBC reported Friday. Recruitment firm Robert Walters has seen a 50% increase in the number of roles related to blockchain or crypto in Asia since 2017 and according to data from job search engine Indeed's main Asian markets, there's been high interest in blockchain roles. CRYPTO STOCK PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. Overstock (OSTK), DPW Holdings (DPW), Kodak (KODK), Seven Stars Cloud, Riot Blockchain (RIOT), Pareteum (TEUM) and Social Reality (SRAX) are other stocks that have been touted, or promoted themselves, as a way to play the crypto theme. PRICE ACTION: As of time of writing, bitcoin rose about 6.5% this week to $6,930 in U.S. dollars, according to CoinDesk. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.
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| WYNN | Hot Stocks10:24 EDT Melvin Capital Management reports 5.13% stake in Wynn Resorts
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| BIG | Hot Stocks10:00 EDT Big Lots falls -7.0% - Big Lots is down -7.0%, or -$3.35 to $44.51.
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| CANG | Hot Stocks10:00 EDT Cango falls -14.1% - Cango is down -14.1%, or -$1.40 to $8.50.
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| ZUO | Hot Stocks10:00 EDT Zuora falls -16.0% - Zuora is down -16.0%, or -$5.44 to $28.57.
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| PAGS | Hot Stocks10:00 EDT PagSeguro Digital rises 6.6% - PagSeguro Digital is up 6.6%, or $1.69 to $27.48.
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| EDN | Hot Stocks10:00 EDT Edenor rises 7.1% - Edenor is up 7.1%, or $1.40 to $21.00.
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| FIYY | Hot Stocks10:00 EDT Barclays ETN+ FI Enhanced Global High Yield ETN Series B rises 19.2% - Barclays ETN+ FI Enhanced Global High Yield ETN Series B is up 19.2%, or $19.65 to $122.00.
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| GRAM | Hot Stocks09:47 EDT Grana y Montero falls -5.6% - Grana y Montero is down -5.6%, or -19c to $3.21.
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| BIG | Hot Stocks09:47 EDT Big Lots falls -13.4% - Big Lots is down -13.4%, or -$6.42 to $41.45.
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| ZUO | Hot Stocks09:47 EDT Zuora falls -18.0% - Zuora is down -18.0%, or -$6.11 to $27.90.
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| UGAZ | Hot Stocks09:47 EDT VelocityShares 3x Long Natural Gas ETN rises 4.1% - VelocityShares 3x Long Natural Gas ETN is up 4.1%, or $2.58 to $65.55.
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| CMCM | Hot Stocks09:47 EDT Cheetah Mobile rises 6.6% - Cheetah Mobile is up 6.6%, or 66c to $10.71.
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| PAGS | Hot Stocks09:47 EDT PagSeguro Digital rises 9.4% - PagSeguro Digital is up 9.4%, or $2.42 to $28.21.
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| SVVC | Hot Stocks09:20 EDT Firsthand Technology Value Fund adopts plan to repurchase up to $2M in shares - Firsthand Technology Value Fund disclosed that its board of directors has approved a discretionary share repurchase plan, via which the fund may purchase in the open market up to $2M worth of its common stock at certain thresholds below its net asset value, or NAV, per share. Separately, Firsthand's CEO, Kevin Landis, has announced his own intention to purchase up to $1M worth of stock, either directly or indirectly through Firsthand Capital Management, the fund's investment adviser. The fund expects the plan will be in effect until March 31, 2019, or until the approved dollar amount has been used to repurchase shares.
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| ESGR MHLD | Hot Stocks09:19 EDT Enstar Group to acquire Maiden Re North America from Maiden Holdings subsidiary - Enstar Group (ESGR) announced that one of its wholly owned subsidiaries has entered into a definitive agreement to acquire Maiden Reinsurance North America from a subsidiary of Maiden Holdings (MHLD). Maiden Re North America is an insurance company domiciled in Missouri that provides property and casualty treaty reinsurance, casualty facultative reinsurance and accident and health treaty reinsurance. As part of the transaction, an Enstar subsidiary will novate and assume certain reinsurance agreements from Maiden's Bermuda reinsurer, including certain reinsurance agreements with Maiden Re North America. The net consideration payable in the transactions is $307.5M, subject to certain closing adjustments. Enstar will assume approximately $1.3B of net loss and loss adjustment expense reserves and unearned premium reserves upon closing.
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| SKYS | Hot Stocks09:18 EDT Sky Solar announces CFO Wang to leave company - Sky Solar announced that its Chief Financial Officer Andrew Wang will be leaving the company to pursue other opportunities. Wang, who served as CFO for the past seven years, will remain as an advisor with the company for several more weeks to ensure a smooth transition. The current Chief Investment Officer Sanjay Shrestha will assume the responsibilities of CFO and will replace Wang on the board. In addition, the office of the CFO is being strengthened by the creation of a new position of Corporate Treasurer, the company said. Aditya Satghare, currently Vice President of Sky Capital, will assume this new role.
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| VHC AAPL | Hot Stocks09:18 EDT VirnetX says Court affirms jury's verdict of $502.6M in Apple patent case - VirnetX (VHC) announced that on August 30, 2018, the United States District Court for the Eastern District of Texas, Tyler Division, entered a Final Judgment and issued its Memorandum Opinion and Order regarding post-trial motions resulting from the prior $502.6M jury verdict for VirnetX in the ongoing patent infringement action between VirnetX and Apple (AAPL). In the Order, The Court affirmed the jury's verdict of $502.6M and granted VirnetX's motions for supplemental damages, a sunset royalty and the royalty rate set at $1.20 per infringing iPhone, iPad and Mac products, pre-judgment and post-judgment interest and costs.
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| SBUX... | Hot Stocks09:11 EDT Fly Intel: Pre-market Movers - HIGHER: Integrated Device (IDTI), up 12% after Japanese automotive chip maker Renesas Electronics (RNECY) is reportedly mulling the purchase of the company. UP AFTER EARNINGS: American Outdoor Brands (AOBC), up 21%. Lululemon (LULU), up 9%... Ulta Beauty (ULTA), up 2%. DOWN AFTER EARNINGS: Ambarella (AMBA), down 12%... Big Lots (BIG), down 7%... Nutanix (NTNX), down 5%. LOWER: Starbucks (SBUX), down 1% after Coca-Cola (KO) announced an over $5B deal to buy the U.K. coffee brand Costa... Activision-Blizzard (ATVI), down 2% and Electronic Arts (EA), down 1% after BofA Merrill Lynch analyst Justin Post downgraded the stocks, both to Neutral from Buy, stating that he believes Electronic Arts' guidance cut yesterday highlights the risks of a back-end loaded year, a "crowded" holiday title slate and continued Fortnite pressure.
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| SBUX KO | Hot Stocks09:10 EDT Starbucks slips after Coca-Cola agrees to acquire Costa - Shares of Starbucks (SBUX) are slipping after Coca-Cola (KO) announced that it has reached a definitive agreement to acquire Costa, whose operations include a leading brand, nearly 4,000 retail outlets, a coffee vending operation, for-home coffee formats and a "state-of-the-art" roastery. In pre-market trading, Starbucks shares are down 75c, or 1.4%, to $52.35.
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| TAHO | Hot Stocks09:07 EDT Tahoe Resources reports protest at La Arena - Tahoe Resources reports that a group ranging from between 80-100 people from the nearby community of La Ramada, located about three kilometers to the southwest of the La Arena mine, has illegally trespassed onto the company's property, disrupted mining operations and demanded payment for the alleged impacts of mining operations to their community. The company said, "This protest is in response to recent meetings the Company has held with certain La Ramada residents who are demanding monetary compensation for the alleged impacts of dust and vibrations from blasting activities to their community. La Arena conducts extensive and regular monitoring of the impacts from the mine blasts, including community participatory monitoring exercises. The result of the ongoing monitoring demonstrates clear compliance with the law and the Environmental Quality Standards set to protect the environment and communities. To ensure the safety of our employees, contractors and members of the community, the company has temporarily suspended mining operations, starting with the night shift on August 30, 2018 and ordered all workers to remain at home. Leaching activities continue normally at this time. As a result of this illegal disruption, the company has filed formal charges against the protest leaders for illegal trespass. The company has also notified the police, the Ministry of Energy and Mines as well as the Consejo de Ministros, who have a social unit to support with conflict resolution.The company remains willing to engage in a peaceful and constructive formal dialogue process with the La Ramada residents and has reaffirmed its commitment to continue its efforts to minimize the impacts of the operations on the community. The company continues to work towards a formal dialogue process with the support of the Government in the appropriate setting."
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| PBPB | Hot Stocks09:05 EDT Potbelly announces CFO Michael Coyne's resignation - Potbelly announced the resignation of Michael Coyne, CFO, who is leaving Potbelly to accept a senior leadership position with another company. Coyne will continue in his current position as CFO until September 21. Potbelly has begun a search to identify qualified candidates to fill the CFO position.
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| CTL AMZN | Hot Stocks09:03 EDT CenturyLink named an Amazon Web Services Managed Service Provider Partner - CenturyLink (CTL) announced it has been named an Amazon (AMZN) Web Services Managed Service Provider Partner. The achievement highlights CenturyLink's ongoing commitment to building robust services on AWS to deliver digital transformation to businesses on their cloud journeys.
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| HCA | Hot Stocks09:02 EDT HCA Healthcare agrees to acquire Mission Health for about $1.5B
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| IRIX | Hot Stocks09:02 EDT IRIDEX announces Cyclo G6 used in 35 of 39 'Best Hospitals for Opthamology' - IRIDEX announced that the company's Cyclo G6 Glaucoma Laser System is used in 35 of the 39 "Best Hospitals for Ophthalmology" as ranked in a recent report by U.S. News and World Report. The Cyclo G6 system is the first in its class designed specifically to treat patients diagnosed with a range of glaucoma disease states. It features the company's proprietary MicroPulse technology, in which a continuous-wave laser beam is chopped into a train of tiny, repetitive, low energy pulses separated by a brief rest period allowing the tissue to cool between laser pulses. Since its launch in 2015, approximately 1,100 G6 systems and approximately 90,000 G6 probes have been shipped to over 50 countries.
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| HCA | Hot Stocks09:02 EDT Mission Health to be acquired by HCA Healthcare - Mission Health's Board of Directors announced today that Mission Health and HCA Healthcare have entered into a definitive agreement for HCA to acquire Mission Health. The Agreement will be sent to the North Carolina Attorney General for applicable regulatory review. As part of its normal regulatory review process, the attorney general will evaluate any effect the transaction could have on market competition, whether HCA Healthcare is paying a fair price for the acquisition and how proceeds resulting from the sale will continue to benefit western North Carolina. The proceeds of the sale combined with Mission Health's remaining cash and investments - after all debts and obligations have been paid - will ultimately be transferred to the newly formed Dogwood Health Trust whose sole mission is to dramatically improve the health and well-being of all people and communities of western North Carolina. HCA Healthcare has agreed to pay approximately $1.5B for the assets of the Mission Health system. Under the terms of the definitive agreement, nearly all Mission Health facilities and clinics will become part of HCA Healthcare while continuing to operate under the Mission brand. Importantly, HCA has committed to maintaining key clinical services for at least five years and keeping open all rehabilitation and acute-care hospitals for a minimum of 10 years, other than St. Joseph's Hospital which was already planned for transition. Likewise, HCA has agreed not to sell any rehabilitation or acute-care hospital for a minimum of 10 years. None of these protections exist for Mission Health programs or facilities today. Further, HCA Healthcare has committed to $430 million over five years in capital expenditures which includes the completion of the Mission Hospital for Advanced Medicine, building a replacement hospital for Angel Medical Center and building a new Behavioral Health hospital. Additionally, HCA will contribute $25 million, that when combined with a matching $25 million contribution from Mission Health, will create a $50 million innovation fund to invest in businesses providing innovations in health care delivery that benefit the people of western North Carolina.
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| MKL | Hot Stocks08:48 EDT Markel to acquire Nephila Holdings Limited - Markel and Nephila Holdings Limited announced that they have entered into a definitive agreement for Markel to acquire all of the outstanding shares of Nephila. Upon completion of the transaction, Nephila will continue to operate as a separate business unit. The management team, led by Greg Hagood and Frank Majors, will remain in place and will continue to be based in Bermuda, San Francisco, CA, Nashville, TN and London. The transaction, which is subject to approvals by relevant insurance regulators and other customary closing conditions, is expected to close in the fourth quarter of 2018. The transaction is not subject to any financing condition, and Markel plans to finance the transaction using cash balances on hand.
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| PTLA | Hot Stocks08:42 EDT Portola Pharmaceuticals announces Andexxa PAS submission to FDA - Portola Pharmaceuticals announced the submission of a prior approval supplement, or PAS, to the FDA for the large-scale generation 2 manufacturing process for Andexxa, inactivated-zhzo. If approved, the PAS will allow for broad commercial launch of Andexxa in the United States. Andexxa received both U.S. orphan drug and FDA breakthrough therapy designations, and was approved on May 3 under the FDA's accelerated approval pathway. It is the first and only antidote indicated for patients treated with rivaroxaban and apixaban, when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding. Based on FDA timelines, the company expects a final decision on the PAS in Q1 2019.
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| IFMK | Hot Stocks08:38 EDT iFresh enters exclusive distribution agreement with Xiamen Yidong - iFresh announced that it has entered into an exclusive distribution agreement with Xiamen Yidong Intelligent Technology to sell Xiamen Yidong's smart retail products in North America, South America, and Central America. Under the terms of the agreement, iFresh has been granted exclusive distribution rights for the sale of Xiamen Yidong Intelligent Technology's E+Store, E+Box, E+Door, E+AI, E+Cabinets, E+Shopping Cart, and related smart retail shopping products for a term of 5 years in North America, South America, and Central America. iFresh has the right to extend the agreement for an additional 10 years. These smart retail products replace traditional labor with automatic checkout systems using palmprint, facial recognition technology, artificial technology and mobile phone apps, to provide a consumer experience. Xiamen Yidong's smart retail products, upgrades and retail models use smart technology to reduce labor costs and help physical stores face the competition and challenges from online retail.
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| CNQ | Hot Stocks08:35 EDT Canadian Natural to acquire Joslyn oil sands project for $225M - Canadian Natural announces that it has entered into an agreement to acquire a 100% working interest in the Joslyn oil sands project for a total consideration of $100M cash on closing and annual cash payments of $25M over each of the next five years. The Joslyn lease, which is located directly south of the company's current Horizon Oil Sands Mining and Upgrading project, adds significant value to the company's already extensive portfolio of high quality long life low decline assets and will allow for more effective lease-line development opportunities between the Horizon and Joslyn projects. The transaction, subject to regulatory approval, is targeted to close on September 28.
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| SANM | Hot Stocks08:31 EDT Sanmina CEO Bob Eulau resigns, Michael Clarke succeeds - Sanmina announced that Bob Eulau, its CEO, resigned from the company. The Board of Directors unanimously voted to appoint Michael Clarke, a member of the Board of Directors since 2013, as CEO, effective October 1, 2018. In the interim, Jure Sola will lead the company as Executive Chairman. Clarke was the President and CEO of Nortek, a leading global manufacturer of innovative, branded air management, security and technology products for home and work environments from 2011 until its acquisition in 2016.
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| MNGA | Hot Stocks08:13 EDT MagneGas announces $900,000 in sales in July - MagneGas announced that the company generated sales of $900,000 for the month of July, as compared to $230,000 million in July 2017, representing a 292% increase. The sales growth was a result of MagneGas' expansion into California, Texas and Louisiana through three acquisitions made earlier in 2018. The rapid sales growth in July 2018 was primarily driven by a strong rebound in sales in Florida, as well as sales growth at the company's northern California operations managed under the Trico Welding Supplies brand. Additionally, the company's operations under the Green Arc Supply brand in East Texas have recently acquired several new clients from national industrial gas competitors.
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| ALT | Hot Stocks08:07 EDT Altimmune announces data from NasoShield study shows limited immunogenicity - Altimmune announced initial data from its Phase 1 study of NasoShield under investigation as a potential vaccine against anthrax. The purpose of the Phase 1 study was to assess the safety and immunogenicity of a single intranasal dose of NasoShield at four dose cohort levels. An additional cohort received a repeated dose of NasoShield at Day 21. The study included 145 healthy volunteers. Four single-dose cohorts of 30 subjects each were randomized to receive either one dose of NasoShield, three doses of the currently licensed anthrax vaccine, or placebo. Based on initial data from the single-dose cohorts, NasoShield was safe and well-tolerated with no serious adverse events. The study also showed limited immunogenicity, possibly indicating that like other anthrax vaccines, NasoShield may require more than one dose.
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| CSS | Hot Stocks08:02 EDT CSS Industries announces resignation of CFO John Roselli - CSS Industries announced the resignation of John Roselli as CFO of the company, and the appointment of Keith Pfeil as the company's new CFO, both effective today. Roselli is leaving the company to pursue other business interests, and he will remain employed by CSS until September 7, 2018 to assist with transition-related matters. Since joining CSS in 2003, Pfeil has served in various CSS financial, audit and business leadership positions, most recently serving as SVP - Financial Planning and Analysis and Investor Relations.
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| AMRX | Hot Stocks07:33 EDT Amneal Pharmaceuticals announces partnership with American Regent - Amneal Pharmaceuticals announced a 5-year supply and distribution agreement with American Regent for the only preservative-free generic alternative to Makena. The injectable is used to reduce the risk of preterm birth in certain women. According to IQVIA, the U.S. brand market for Makena is estimated to be approximately $323M in annual sales for the 12 months ended June 2018. Under the terms of the agreement, Amneal will distribute a generic version of Makena to retail consortiums while American Regent will market the product in all other channels including hospital and specialty channels. Amneal also announced that it has received approvals for two new topical products that treat a variety of skin conditions. This includes generic versions of Temovate ointment 0.05% and Lidex cream 0.05%. The company is preparing to commercialize fluocinonide cream in the fourth quarter of 2018. According to IQVIA, annual sales for topical fluocinonide cream were $34M, for the 12 months ended June 2018. In addition, Amneal recently launched a generic version of Lodine IR 400 mg and 500 mg tablets. Etodolac had annual U.S. sales of approximately $36M according to IQVIA for the 12 months ended June 2018.
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| ARWR | Hot Stocks07:32 EDT Arrowhead completes dosing in Phase 1 study of ARO-AAT - Arrowhead Pharmaceuticals announced that it has completed dosing of a Phase 1 clinical study of ARO-AAT, the company's second generation subcutaneously administered RNA interference therapeutic being developed as a treatment for a rare genetic liver disease associated with alpha-1 antitrypsin deficiency. Arrowhead intends to submit a late-breaking abstract with initial clinical data on ARO-AAT to the Liver Meeting, the Annual Meeting of the American Association for the Study of Liver Disease, being held in November 2018. AROAAT1001 is a Phase 1 single- and multiple-ascending dose study to evaluate the safety, tolerability, pharmacokinetics, and effect of ARO-AAT on serum alpha-1 antitrypsin levels in healthy adult volunteers. The study includes 7 cohorts in which subjects receive placebo, a single dose of ARO-AAT, or three monthly doses of ARO-AAT at doses of 35, 100, 200, or 300 mg. Additional cohorts were planned at a dose of 400 mg, but were deemed unnecessary based on observed activity at lower doses.
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| QCOM | Hot Stocks07:31 EDT Qualcomm announces final results of modified Dutch auction tender offer - Qualcomm announced the final results of its "modified Dutch auction" tender offer, which expired at 12:00 midnight, New York City time, at the end of the day on August 27, 2018. Qualcomm has accepted for purchase 76,204,697 shares of its common stock at a price of $67.50 per share, for an aggregate cost of approximately $5.1B, excluding fees and expenses relating to the tender offer. These shares represent approximately 5.2% of the shares outstanding.
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| MTP NVS | Hot Stocks07:08 EDT Midatech Pharma announces interim data from MTD201 study vs. Novartis' SLAR - Midatech Pharma (MTP) announced interim data from the study of MTD201 Q-Octreotide, a sustained-release treatment for carcinoid cancer and acromegaly. The double-blind exploratory study compared tolerability, pharmacokinetics and growth hormone profiles after 30 mg intramuscular injections of MTD201 or Novartis' (NVS) Sandostatin LAR, or SLAR, in 24 healthy subjects. The primary objectives of this exploratory trial were to compare the sustained release profile of MTD201 to that of SLAR and to inform the design of a follow-on pivotal registration study. Results from the study indicate that MTD201 produces a safe and effective sustained-release profile of octreotide, supporting a once-monthly treatment interval, as is indicated for SLAR. Therapeutic octreotide concentrations were achieved, and growth hormone levels were suppressed in this trial by an average of 25%, comparable with SLAR. The release profile of MTD201 was consistent in all subjects and showed no measurable burst release or dose-dumping. This reflects the precision and tuning available with the Q-Sphera microsphere platform. MTD201 treatment was well-tolerated and the number of adverse events was low, similar to SLAR. Injection site reactions were generally mild and short-lived. Pain at the injection site was reported in 8% versus 25% of subjects, and injection site tenderness in 8% versus 83% of subjects. Based on these interim results, Midatech believes that MTD201 has been shown to be safe with advantageous sustained-release properties that support the continued development of a long-acting octreotide product alternative to SLAR. The 'no-burst' and lower variability in the profile of MTD201 suggests a distinct and improved product, rather than an equivalent product, to SLAR. In preparation for a follow-on regulatory trial, Midatech will seek additional regulatory opinion on pursuing approval for MTD201 as an equivalent product or a differentiated improved product. The company will make further announcements regarding the next steps for MTD201 in due course.
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| AZN | Hot Stocks06:55 EDT AstraZeneca reports Phase 3 anifrolumab trial did not meet primary endpoint - AstraZeneca and MedImmune, its global biologics research and development arm, today announced top-line results from the TULIP 1 Phase III trial for anifrolumab in adult patients with moderate-to-severe systemic lupus erythematosus, or SLE. The trial did not meet the primary endpoint of a statistically-significant reduction in disease activity in patients with SLE as measured by the SLE Responder Index 4 at 12 months. A full evaluation of the data will be conducted when TULIP 2 data are available later this year. TULIP 1 data will be presented at a future medical meeting. Sean Bohen, Executive Vice President, Global Medicines Development and Chief Medical Officer, said: "SLE is a debilitating autoimmune disease with significant unmet need among patients who struggle to achieve meaningful disease control. The result of this trial is disappointing for patients and the lupus community."
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| BIG | Hot Stocks06:50 EDT Big Lots down 7.5% to $44.25 after Q2 results miss estimates
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| CNX | Hot Stocks06:49 EDT CNX Resources closes $400M sale of Ohio Utica joint venture assets - CNX Resources announced that it has closed on its previously announced agreement to sell substantially all its Ohio Utica joint venture assets for approximately $400M. This purchase price is subject to customary adjustments.
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| HES | Hot Stocks06:46 EDT Hess Corp. completes sale of Utica acreage to Ascent Resources - Hess announced that it has completed the previously announced sale of its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources - Utica, LLC for net cash consideration of approximately $400M, effective April 1. Proceeds from this transaction will be used to invest in the company's higher return growth opportunities in Guyana and the Bakken and to fund the previously announced share repurchase program.
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| EMITF | Hot Stocks06:17 EDT Elbit Imaging: Gamida Cell pursuing alternatives for raising additional capital - Elbit Imaging announced that Gamida Cell, in which the company indirectly holds approximately 16% of its issued and paid up share capital, is pursuing various alternatives for raising additional capital, including an Initial Public Offering of its ordinary shares in the Unites States, for which it has confidentially submitted draft filings of a registration statement to the U.S. SEC. As of this date, there is no certainty that such additional financing will be consummated, or what will be the terms of such financing, since, inter alia, such financing is subject to the satisfaction of various conditions, including the existence of appropriate market conditions, obtaining required approvals, the realization of risk factors related to Gamida, developments in its business or in the financial markets and the markets in which it operates.
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| WYY | Hot Stocks06:04 EDT WidePoint receives $12M task order from Coast Guard - WidePoint was awarded a new task order from the U.S. Coast Guard under the U.S. Department of Homeland Security Cellular Wireless Management Services BPA. The new award has a period of performance of 15 months, consisting of a base period of one year with two option periods. The total award value is in excess of $12M, if all options periods are exercised.
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| SXE | Hot Stocks06:03 EDT Southcross Energy Partners receives NYSE continued listing standard letter - Southcross Energy Partners was notified on August 27, 2018 by the New York Stock Exchange that the Partnership does not presently satisfy the NYSE's continued listing standard requiring the average closing price of the Partnership's common units to be at least $1.00 per common unit over a period of 30 consecutive trading days. As of August 27, 2018, the average closing price of the Partnership's common units over the preceding 30 trading-day period was $0.88 per unit. In accordance with NYSE rules, the Partnership intends to notify the NYSE within 10 business days of receipt of the notification that the Partnership intends to cure the deficiency. The Partnership has a period of six months from the date of the notification to regain compliance with the minimum unit price criteria. The Partnership is considering all available options to regain compliance during this six-month period.
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| BGNE | Hot Stocks06:02 EDT BeiGene says NMPA of China accepts NDA for tislelizumab - BeiGene announced that the National Medical Products Administration of China has accepted the new drug application for tislelizumab, an investigational anti-PD-1 antibody, as a potential treatment for patients with relapsed/refractory classical Hodgkin's lymphoma.
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| AWK | Hot Stocks05:48 EDT Hawaii American Water enters into contract to purchase Waimea Wastewater - Hawaii American Water, a wholly owned subsidiary of American Water, has entered into a contract to purchase assets and operations of the Waimea Wastewater Company, Inc., which serves a portion of the town of Waimea. Located on the Island of Hawai'i, Waimea Wastewater is a regulated wastewater utility that serves approximately 217 residential and commercial connections, including the North Hawai'i Community Hospital. The Waimea Wastewater Company is a wholly-owned subsidiary of Parker Ranch, one of the largest cattle ranches in the United States.
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| SPI | Hot Stocks05:26 EDT SPI Energy enters into definitive agreement for disposition of Chinese business - SPI Energy announced that it has entered into a share purchase agreement, or SPA, with Lighting Charm Limited, an affiliate of Tracy Zhoushan, the spouse of Xiaofeng Peng, the company's chairman of the board and CEO. The agreement has been approved by an independent committee of the company's board.
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| KO | Hot Stocks05:24 EDT Coca-Cola sees Costa acquisition 'slightly accretive' in first full year - Coca-Cola expects the transaction to be slightly accretive in the first full year, not taking into account any impact from purchase accounting. For FY18, Costa generated revenue and EBITDA of roughly $1.7B in revenue and $312M in EBITDA. Because Coca-Cola expects the transaction to close in the first half of 2019, there is no change to 2018 guidance. The company's long-term targets also remain unchanged. Coca-Cola will provide additional information as part of comprehensive guidance provided during the Q4 earnings call.
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| KO | Hot Stocks05:23 EDT Coca-Cola to acquire Costa in deal valued at $5.1B - Coca-Cola announced that it has reached a definitive agreement to acquire Costa Limited. The acquisition of Costa from parent company Whitbread PLC is valued at $5.1B and will give Coca-Cola a strong coffee platform across parts of Europe, Asia Pacific, the Middle East and Africa, with the opportunity for additional expansion. Costa operations include a leading brand, nearly 4,000 retail outlets with highly trained baristas, a coffee vending operation, for-home coffee formats and Costa's state-of-the-art roastery. For Coca-Cola, the expected acquisition adds a scalable coffee platform with critical know-how and expertise in a fast-growing, on-trend category. Costa has a solid presence with Costa Express, which offers barista-quality coffee in a variety of on-the-go locations, including gas stations, movie theaters and travel hubs. Costa, in various formats, has the potential for further expansion with customers across the Coca-Cola system. The acquisition will expand the existing Coca-Cola coffee lineup by adding another leading brand and platform. The portfolio already includes the market-leading Georgia brand in Japan, plus coffee products in many other countries. The purchase price is approximately $5.1B. Upon the closing, Coca-Cola will acquire all issued and outstanding shares of Costa Limited, a wholly owned subsidiary of Whitbread. This subsidiary contains all of the existing operating businesses of Costa. Whitbread will be seeking shareholder approval for the transaction, which is expected to take place by mid-October. The deal is subject to customary closing conditions, including antitrust approvals in the European Union and China. It is expected to close in the first half of 2019. Coca-Cola expects the transaction to be slightly accretive in the first full year, not taking into account any impact from purchase accounting. For FY18, Costa generated revenue and EBITDA of roughly $1.7B in revenue and $312M in EBITDA. Because Coca-Cola expects the transaction to close in the first half of 2019, there is no change to 2018 guidance. The company's long-term targets also remain unchanged. Coca-Cola will provide additional information as part of comprehensive guidance provided during the Q4 earnings call.
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| KO | Hot Stocks05:14 EDT Coca-Cola to acquire Costa in deal valued at $5.1B
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| BABA | Hot Stocks05:12 EDT Alibaba cloud partners with ABU Sports Network - Alibaba Cloud announced that it has successfully delivered a turnkey, Internet-based broadcast solution to the Asia-Pacific Broadcasting Union Sports Network, or ABU Sports Network, and, in turn, empowered it to offer the excitement of the Asian Games, currently being held in Jakarta and Palembang, Indonesia, to millions of under-served viewers in the region through its members. Alibaba Cloud's innovative solution will feed images and sounds from the IBC in Jakarta to the headquarters of ABU Sports Network's members. With the company's data center and local capabilities, the videos are processed on and transmitted through its powerful cloud platform to broadcasters in the region.
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| ENB | Hot Stocks05:11 EDT Enbridge Gas Distribution/Union Gas amalgamation receives OEB approval - Enbridge received a decision from the Ontario Energy Board, or OEB, approving the amalgamation of Enbridge Gas Distribution and Union Gas Limited. This decision from the OEB is an important step in determining how, and if, Enbridge Gas Distribution and Union Gas will amalgamate. Enbridge will undertake a detailed review of the OEB's decision, and approved parameters, and make a final determination on the amalgamation of its utilities.
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