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Stockwinners Market Radar for September 16, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| AAPL... | Hot Stocks21:06 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. On Saturday, The Wall Street Journal reported that President Trump plans to announce new tariffs of about $200B on Chinese imports, but at a rate of about 10%, which is below the 25% that has previously been threatened. On Sunday, The Journal said that China is not pleased with the pressure tactics and is considering declining an offer for a new round of trade talks. Furthermore, some Chinese advisors are suggesting restrictions be placed on sales of materials and equipment key to U.S. manufacturers' supply chains, which could even apply to Apple's (AAPL) iPhone, according to The Journal. 2. Amazon (AMZN) is investigating internal leaks as it fends off fake reviews and other seller scams, The Wall Street Journal reported. The practice of employees offering internal data and other confidential information that can help independent merchants sell their products on the site is particularly pronounced in China, sources told the paper. 3. A fire broke out at Tesla's (TSLA) Gigafactory in Nevada late on Saturday but was contained by early Sunday and production had resumed, Reuters reported, citing emergency officials and the company. The factory produces Model 3 electric motors and battery packs. 4. After Friday's close, Quantum (QTM) announced that the special committee of its board of directors has substantially completed its internal investigation and concluded that there were misstatements in the company's previously issued consolidated financial statements and other financial information. The board has concluded that the company's previously issued consolidated financial statements and other financial data for the fiscal years ended March 31, 2015, 2016 and 2017 should no longer be relied upon and should be restated. 5. ObsEva (OBSV) and Summit Materials (SUM) saw positive mentions in Barron's.
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| IQ | Hot Stocks20:11 EDT iQIYI to develop 'Mysterious Seas' novel into multiple content formats - iQIYI announced plans to develop Chinese writer Tang Jia San Shao's novel "Mysterious Seas and Lands of Wonder: The Matchless Pearl" into multiple content formats including original drama, cartoon, film, game and anime. The company said, "As one of the most well-known writers of online fiction in China, Tang Jia San Shao's work is highly regarded and enjoys great popularity among fans. His latest work Mysterious Seas and Lands of Wonder: The Matchless Pearl became exclusively available on the iQIYI Literature platform in June 2018 and has topped the platform's new literature rankings ever since. Tang Jia San Shao plans to develop the book into a series of stories over the coming decade."
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| NI | Hot Stocks19:57 EDT NiSource's Columbia Gas says restoration efforts continue in Massachusetts - Columbia Gas of Massachusetts, a unit of NiSource, said restoration efforts continue in the communities affected by Thursday's incident. As of 7:00 a.m. ET Sunday, residents in the Merrimack Valley began to return home. It explained, "All buildings have been cleared and electric power has been restored to virtually all residents as of this afternoon. A full complement of crews remain in the area throughout neighborhoods to assist residents as they return to their homes and answer any questions they may have about gas safety. In addition, NiSource and its insurance carriers are working diligently to process damage claims submitted by customers."
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| NI | Hot Stocks19:55 EDT NiSource CEO says 'unprecedented event requires unprecedented action' - Columbia Gas of Massachusetts, a unit of NiSource (NI), announced that it is "committed to completely replace the natural gas distribution system in the Merrimack Valley." It stated, "The company is developing a plan in collaboration with the Governor's Office and all stakeholders to replace the entire affected 48-mile cast iron and bare steel pipeline system in the towns of Andover, Lawrence and North Andover with state-of-the-art plastic distribution mains and service lines, and modern safety features such as pressure regulation and excess flow valves at each premise. This system, which serves approximately 8,600 customers, was involved in the tragic September 13, 2018 incident which remains under investigation by the National Transportation Safety Board." NiSource President and CEO Joe Hamrock said, "This unprecedented event requires unprecedented action. With this incident, a life was tragically lost and thousands of other lives were directly affected. We lost the trust of this community and are 100 percent committed to restoring safety, confidence and peace of mind for everyone in this community. Over time, we hope to earn back the trust we lost during this incident." Columbia Gas of Massachusetts added that it is in the midst of a multiyear program to modernize its gas distribution system and replace cast iron and bare steel pipeline systems across the state. "Our commitment to accelerate that work in the Merrimack Valley, while larger in scale than a typical modernization project, is necessary in light of recent events. We remain committed to the modernization of all of our pipeline systems," the company said in a statement.
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| MDP CRM | Hot Stocks19:49 EDT Meredith sells TIME media brand to Salesforce's Benioff for $190M in cash - Meredith Corporation (MDP) announced it has entered into a definitive agreement to sell the TIME media brand to Marc and Lynne Benioff for $190M in cash. The transaction is subject to customary closing conditions and regulatory approval and is expected to close within 30 days. The Benioffs are purchasing TIME personally and the transaction is unrelated to Salesforce.com (CRM), where Mr. Benioff is Chairman, co-CEO and founder. "Mr. and Mrs. Benioff will not be involved in the day-to-day operations or journalistic decisions, which will continue to be led by TIME's current executive leadership team," Meredith said in a press release. Meredith acquired TIME as part of its purchase of Time Inc., which closed on January 31, 2018. Shortly thereafter, Meredith announced it was selling Time Inc.'s news and sports brands - TIME, Sports Illustrated, Fortune and MONEY - to focus on brands serving its core audience of American women. Meredith expects to announce agreements for the remaining asset sales in the near future. As part of the transaction, Meredith will provide short-term business continuity services and has entered into a multi-year agreement with the Benioffs to provide services such as consumer marketing, subscription fulfillment, paper purchasing and printing. Meredith will also be able to include the TIME brand in large corporate advertising buys. Meredith plans to use proceeds from the transaction to pay down debt. Meredith expects to reduce its debt by $1B during fiscal 2019. Meredith is targeting a net debt-to-EBITDA ratio of 2.0 times to 1 or better by the end of its fiscal 2020. This includes generating $1B of EBITDA and having net debt below $2B by the end of fiscal 2020.
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| DUK | Hot Stocks19:41 EDT Duke Energy restored power to more than 1M NC, SC customers - Duke Energy said it has restored power to more than 1M customers so far in North Carolina and South Carolina out of more than 1.4less than total power outages in the wake of what is now Tropical Depression Florence. Duke added, "Some of the most challenging power restoration work remains ahead in currently inaccessible coastal areas that experienced massive flooding and structural damage.Duke Energy this weekend moved crews and equipment as close as possible to those heavily impacted areas to enable comprehensive restoration work to begin as soon as conditions allow." As of 4 p.m. today, 404,000 customers - 381,000 in North Carolina and 23,000 in South Carolina - remained without power.
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| BGNE | Hot Stocks18:08 EDT BeiGene announces four presentations at Chinese Society of Clinical Oncology - BeiGene announced four oral clinical data presentations on two of its late-stage investigational therapies, tislelizumab and zanubrutinib, at the 21st Annual Meeting of the Chinese Society of Clinical Oncology. The meeting will take place September 19 - 23 in Xiamen, China. Tislelizumab is an investigational anti-PD-1 antibody, and zanubrutinib is an investigational small molecule inhibitor of Bruton's tyrosine kinase.
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| HIW | Hot Stocks18:06 EDT Highwoods Properties reports no damage from Hurricane Florence - Highwoods Properties reports that after having conducted an assessment, none of its assets have sustained any damage from Hurricane Florence. The assessment is inclusive of the company's underway development projects. All building utilities are operational and minor clean-up is near completion, Highwoods said. Ed Fritsch, President and CEO stated, "While we are pleased to report our portfolio and all HIW personnel are unscathed by Hurricane Florence, we are saddened by the loss of lives and homes down east. Our thoughts and prayers are with all those who have been hit hard by this storm and who will undoubtedly need help from our greater community. I am extremely appreciative for the terrific work our team did preparing for this storm and grateful to have fared so well."
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| TSLA | Hot Stocks17:29 EDT Tesla bringing most collision repairs in-house, Musk says - Tesla CEO Elon Musk tweeted, "Tesla is bringing most collision repairs in-house, as outside firms take weeks to months for repairs, driving Tesla owners (and us) crazy...Exciting to see some Tesla collision repair operations already completing within 24 hrs. Aiming for same day soon, then under an hour...Goal is for repaired car to be better than before accident. Should always be true if damaged/used parts are correctly replaced with newer parts."
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| FOXA... | Hot Stocks17:27 EDT Fox's 'Predator' takes weekend box office with $54.7M - comScore (SCOR) announced the official worldwide weekend box office estimates for the weekend of September 16, as compiled by the company's theatrical measurement services. The top five worldwide weekend box office estimates are: Fox's (FOXA) "The Predator" at $54.7M; AT&T (T) subsidiary Warner Bros.' "The Nun" at $51.3M; L Storm at $32.2M; Lionsgate's (LGF.A) "A Simple Favor" at $19.6M; Viacom (VIAB) owned Paramount's "Mission: Impossible - Fallout" at $18.2M.
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| SSW | Hot Stocks17:20 EDT Seaspan prepaid two credit facilities secured by six vessels - Seaspan announced that it has prepaid two credit facilities which were secured by six of its vessels. Upon completion of the collateral release documentation, this will expand Seaspan's pool of unencumbered vessels from 12 as at June 30, to 18 by October. Ryan Courson, CFO of Seaspan, commented, "Seaspan's management team remains committed to its stated strategic priorities for the Company, which include de-leveraging and adding flexibility to the Company's capital structure. We expect to continue strengthening our balance sheet as we position the Company for future growth."
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| DUK | Hot Stocks10:46 EDT Duke Energy restored power to more than 830,000 NC, SC customers - Duke Energy said it has restored power to more than 830,000 customers so far in North Carolina and South Carolina out of more than 1.25M total outages caused by what is now Tropical Storm Florence. Currently, 450,000 customers - 412,000 in North Carolina and 38,000 in South Carolina - remain without power as of 10 a.m. today. The company has 20,000 personnel working to restore power outages, including additional crews from about 25 states. Additional outages are expected today as the storm continues to affect the Carolinas, Duke cautioned.
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| VBIV | Hot Stocks08:02 EDT VBI calls Globes article 'false' and 'gross mischaracterization' of facts - VBI Vaccines issued a statement after being the subject of an article published in Israel's Globes on September 12, written by Gali Weinreb, alleging that VBI failed to meet its responsibilities of disclosure regarding a court case in Israel. VBI said, "Those allegations are not only false, but a gross mischaracterization of the facts. VBI holds itself to the highest standards of integrity and has been fully-compliant with disclosure requirements and regulations. While there are numerous factual inaccuracies and misleading assumptions in the article, VBI believes it is appropriate and necessary to draw attention to a few specific allegations about the Company's disclosure of the referenced agreement and associated court cases: The agreement referenced in the Article, which is between SciVac Ltd., a wholly-owned subsidiary of VBI, and Mr. Nir Izhaki, is a marketing and distribution agreement for the territories of China, Taiwan, and UN Agencies, with an appendix to include Hong Kong when a business opportunity to purchase Sci-B-Vac is presented by Mr. Izhaki to SciVac Ltd. In company filings, VBI discloses existing marketing and distribution agreements with an all-encompassing statement regarding the use of a network of distributors. Details regarding specific marketing and distribution agreements are only disclosed if, and when, they are deemed to be material agreements. Hong Kong is the only included region where Sci-B-Vac is approved, though substantial revenue has not been generated in this territory. Approvals in the other jurisdictions are likely several years away, and payments under Mr. Izhaki's agreement are directly tied to actual sales in those territories, which may never occur in a material amount." VBI added that it is "currently evaluating what options are available to the Company and its stockholders to remedy the damage inflicted by this inaccurate and misleading article."
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| VBIV | Hot Stocks08:00 EDT VBI says Globes article 'not only false, but a gross characterization of facts' - VBI Vaccines issued a statement after being the subject of an article published in Israel's Globes on September 12, written by Gali Weinreb, alleging that VBI failed to meet its responsibilities of disclosure regarding a court case in Israel. VBI said, "Those allegations are not only false, but a gross mischaracterization of the facts. VBI holds itself to the highest standards of integrity and has been fully-compliant with disclosure requirements and regulations. While there are numerous factual inaccuracies and misleading assumptions in the article, VBI believes it is appropriate and necessary to draw attention to a few specific allegations about the Company's disclosure of the referenced agreement and associated court cases: The agreement referenced in the Article, which is between SciVac Ltd., a wholly-owned subsidiary of VBI, and Mr. Nir Izhaki, is a marketing and distribution agreement for the territories of China, Taiwan, and UN Agencies, with an appendix to include Hong Kong when a business opportunity to purchase Sci-B-Vac is presented by Mr. Izhaki to SciVac Ltd. In company filings, VBI discloses existing marketing and distribution agreements with an all-encompassing statement regarding the use of a network of distributors. Details regarding specific marketing and distribution agreements are only disclosed if, and when, they are deemed to be material agreements. Hong Kong is the only included region where Sci-B-Vac is approved, though substantial revenue has not been generated in this territory. Approvals in the other jurisdictions are likely several years away, and payments under Mr. Izhaki's agreement are directly tied to actual sales in those territories, which may never occur in a material amount." VBI added that it is "currently evaluating what options are available to the Company and its stockholders to remedy the damage inflicted by this inaccurate and misleading article."
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| SAFM | Hot Stocks07:56 EDT Sanderson says initial assessment yields no significant damage to NC facilities - Sanderson Farms provided an update on the status of the company's facilities in North Carolina following landfall of Hurricane Florence and the related severe weather and flooding in the region. Joe Sanderson, Chairman and CEO of Sanderson Farms, said, "We are pleased to report we have not received any news of injury or loss of life among our employees and growers in the North Carolina area affected by this devastating storm. We will continue to assess the situation related to our processing plant, hatchery and feed mill in Kinston, North Carolina, and our processing plant and hatchery located in St. Pauls and Lumberton, North Carolina. An initial assessment indicated no significant damage to those facilities, and we are pleased that power has now been restored in Kinston. However, given the amount of rain those areas continue to receive, our assessment will continue through the week-end. Our live inventory and the assets of our independent poultry producers in the region comprise a significant portion of our operations. Given the logistical difficulties caused by flooding and impassable roads, assessments of damage to those facilities will also continue."
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