Stockwinners Market Radar for November 07, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
BRY | Hot Stocks20:48 EDT Berry Petroleum sees FY18 production 27K-30K boe/d - Sees FY19 production 29K-32K boe/d.
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BRY | Hot Stocks20:47 EDT Berry Petroleum reports Q3 production 27.1K boe/d vs. 26.8K boe/d in Q2
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EFC | Hot Stocks19:08 EDT Ellington Financial reports book value per share of $19.77 as of Oct 31 - Ellington Financial announced that its estimated book value per common share as of October 31, 2018 was $19.77, or $19.44 on a diluted basis. Estimated book value per share on a diluted basis takes into account securities convertible into the Company's common shares. These estimates are subject to change upon completion of the Company's month-end valuation procedures relating to its investment positions, and any such change could be material. There can be no assurance that the Company's estimated book value per common share as of October 31, 2018 is indicative of what the Company's results are likely to be for the three month period or year ending December 31, 2018 or in future periods, and the Company undertakes no obligation to update or revise its estimated book value per common share prior to issuance of financial statements for such periods.
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JAZZ | Hot Stocks19:07 EDT Jazz Pharmaceuticals says NICE recommends Vyxeos for treatment of AML - Jazz Pharmaceuticals announced that the National Institute for Health and Care Excellence has published a Final Appraisal Determination recommending Vyxeos 44 mg/100 mg powder for concentrate for solution for infusion for routine use on the National Health Service in England and Wales for the treatment of adults with newly diagnosed, therapy-related acute myeloid leukaemia or AML with myelodysplasia-related changes - two types of secondary AML.
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CVNA... | Hot Stocks18:53 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Carvana (CVNA) up 19.6%... Alarm.com Holdings (ALRM) up 17.6%... Papa Murphy's Holdings (FRSH) up 16.9%... Portola Pharma (PTLA) up 14.7%... CyberArk (CYBR) up 12.6%... CarGurus (CARG) up 12.4%... Fossil Group (FOSL) up 11.3%... Verastem (VSTM) up 11.1%... Alteryx (AYX) up 9.1%... TripAdvisor (TRIP) up 7.8%... TherapeuticsMD (TXMD) up 7.7%... Ready Capital (RC) up 7.1%... Vanda Pharma (VNDA) up 7.1%... QEP Resources (QEP) up 4.8%... Take-Two Interactive (TTWO) up 4.5%... Hologic (HOLX) up 4.5%... Lannett (LCI) up 3.5%... Pegasystems (PEGA) up 3.2%... Upwork (UPWK) up 3.2%... Nektar Therapeutics (NKTR) up 2.3%... Energy Transfer (ET) up 1.8%... Sunoco (SUN) up 1.8%. DOWN AFTER EARNINGS: Kronos Worldwide (KRO) down 15.2%... Wynn Resorts (WYNN) down 12.6%... Roku (ROKU) down 12.5%... Voyager Therapeutics (VYGR) down 12.1%... Genesis Healthcare (GEN) down 11.3%... Zayo Group (ZAYO) down 11.1%... Talend (TLND) down 9.4%... TiVo Corp (TIVO) down 8.9%... Tutor Perini (TPC) down 8.0%... Sunrun (RUN) down 7.7%... Flowers Food (FLO) down 7.7%... Monster Beverage (MNST) down 6.5%... Ocular Therapeutics (OCUL) down 6.5%... SailPoint Technologies (SAIL) down 5.9%... Hostess Brands (TWNK) down 5.8%... Qualcomm (QCOM) down 5.1%... TechTarget (TTGT) down 4.6%... Kinross Gold (KGC) down 4.5%... Nu Skin (NUS) down 3.9%... Square (SQ) down 3.7%... Applied Optoelectronics (AAOI) down 3.4%... Clean Energy (CLNE) down 3.3%... Albemargle (ALB) down 2.8%... Prudential (PRU) down 2.7%... DaVita (DVA) down 2.4%... NN Inc (NNBR) down 2.4%... Microchip (MCHP) down 2.1%... Murphy Oil (MUR) down 2.0%... ADT (ADT) down 1.9%.
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CLGX | Hot Stocks18:24 EDT CoreLogic announces $500M stock buyback - CoreLogic announced that its board has authorized the company to repurchase up to $500 million of outstanding shares of its common stock. The authorization has no expiration date and supersedes the company's previous share repurchase authorization. Separately, the company has confirmed that it expects to complete the buyback of 3% of its outstanding shares as part of its 2018 share repurchase program. Common shares issued and outstanding as of September 30, 2018, totaled 80.6 million.
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HNI | Hot Stocks18:21 EDT HNI Corporation names Larry Porcellato chairman - HNI Corporation announced the retirement of Stan A. Askren from its board of directors effective December 31, 2018 and the election of Larry B. Porcellato to assume the role of chairman of its board of directors effective January 1, 2019. This transition is part of a long-planned succession process. Askren retired as President and Chief Executive Officer of HNI Corporation earlier this year. Porcellato has been a member of HNI's board of directors since 2004 and currently serves as Lead Director.
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ERIC | Hot Stocks18:14 EDT Ericsson raises long-term sales view in Capital Markets Day outlook - The company states: "The ambition for net sales is increased to SEK210B-SEK220B from SEK190B-SEK200B by 2020, mainly driven by Networks. In Networks, increased investments in R&D for technology and cost leadership will continue. Growth is expected to come from a stronger market, selective market shares gains, and expansion of the product portfolio into close adjacent markets. In 2019, investments in 5G trials will continue. The operating margin target for 2020 is unchanged at 15% - 17%. In Digital Services, the top priority is returning to profitability. Continued cost reductions and efficiency improvements will contribute to reaching the target of a low single digit operating margin by 2020. Investments in a 5G-ready and cloud-native product portfolio continue. There is a strong market demand for the new portfolio driven by virtualization and 5G acceleration. At the same time, the legacy product sales decline faster than the new portfolio uptake. The lower net sales ambition for the segment is fully explained by the internal transfer of a business line to Managed Services. In Managed Services, where a turnaround has been completed, focus is shifting to further improving profitability through investments in automation and Artificial Intelligence. Consequently, the operating margin target 2020 is increased to 5% - 8%."
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HSY | Hot Stocks18:12 EDT Hershey agrees to purchase 450,000 shares of common from Hershey Trust Company - The Hershey Company announced that it has agreed to purchase 450,000 shares of its common stock from Hershey Trust Company, as Trustee for the Milton Hershey School Trust, for approximately $48M, or $106.30 per share.
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JKHY... | Hot Stocks18:03 EDT S&P announces changes to S&P 400, 500, 600 indices - S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600: Jack Henry & Associates (JKHY) will replace EQT Corp. (EQT) in the S&P 500, and EQT will replace Jack Henry & Associates in the S&P MidCap 400 effective prior to the market open on Tuesday, November 13. Equitrans Midstream Corp. (ETRN) will be added to the S&P MidCap 400 effective prior to the market open on November 13. Superior Energy Services (SPN) will be removed from the S&P MidCap 400 effective prior to the opening on Wednesday, November 14, and will replace Flotek Industries (FTK) in the S&P SmallCap 600. EQT is spinning off approximately 80% of its stake in Equitrans Midstream effective after the close on Monday, November 12. Post spin-off, EQT and Equitrans Midstream will both have market caps more representative of the mid-cap market space. Superior Energy Services' market capitalization is more representative of the small-cap market space, and Flotek is ranked at the bottom of the S&P SmallCap 600. MasTec (MTZ) will replace United Natural Foods (UNFI) in the S&P MidCap 400, and United Natural Foods will replace MiMedx Group (MDXG) in the S&P SmallCap 600 prior to the market open on Monday, November 12. The NASDAQ Stock Market has determined MiMedx Group is no longer in compliance with listing standards. Therefore, MiMedx will no longer be eligible for the S&P SmallCap 600. United Natural Foods has a market capitalization that is more representative of the small-cap market space.
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OTTW | Hot Stocks17:58 EDT Ottawa Bancorp approves stock repurchase program - Ottawa Bancorp has approved a stock repurchase program authorizing the purchase of 337,440 shares, representing 10% of the company's outstanding shares of common stock. As of September 30, the company had repurchased a total of 100,235 shares of its common stock at an average price of $14.08 per share as part of its previously approved stock repurchase program, which will expire on November 15.
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GLD | Hot Stocks17:57 EDT SPDR Gold Trust holdings fall to 755.23MT from 756.70MT - This marks the 4th consecutive decline in the trust holdings.
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NK | Hot Stocks17:54 EDT NantKwest announces results of haNK in novel cancer memory vaccine immunotherapy - Combination in 30 patients with advanced metastatic cancer refractory to multiple previous therapies. Zero incidence of cytokine release syndrome in any of the 300 doses in 30 patients. All patients received NK Cell Infusion and Novel Cancer Memory Vaccine Combination as outpatients with no immune-related adverse events. In highly refractory late-stage advanced metastatic triple negative breast cancer, 80% disease control in highly refractory late-stage advanced metastatic pancreatic cancer, 90% disease control with median overall survival of 9.5 months, greater than historical controls in patients with standard of care first line therapy in highly refractory patients with advanced metastatic head and neck cancer, the cancer memory vaccine resulted in 67% disease control with a complete response in one patient.Dr. Patrick Soon-Shiong, Chairman & CEO of NantKwest said, "High dose, uninformed, toxic chemotherapy damages the immune system and induces what is known as tolerogenic cell death. Natural Killer cells are the core innate immuno-protective mechanism against cancer. By developing a system of activating the patient's own Natural Killer cells and T cells, as well as augmenting the patient's NK killing ability with engineering off-the- shelf NK transfusions, we hypothesize that resistant cancer can be overcome. We believe that current checkpoint inhibitors alone are insufficient to achieve long-term remission and only by inducing both the innate and adaptive immune system, and by orchestrating the treatment in a temporal-spatial sequence, will we induce T cell memory and long-term durable response. These early results of 300 doses of the Cancer Memory Vaccine in 30 patients over the course of the last 14 months are encouraging and suggest that we may be on the correct path to a paradigm change, leading ultimately to a chemo-free treatment of cancer patients, early in the course of their disease and ultimately to a path of cancer prevention."
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MNST | Hot Stocks17:42 EDT Monster down 5% after reporting Q3 earnings, revealing dispute with Coca-Cola
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MNST KO | Hot Stocks17:41 EDT Monster Beverage reveals energy drink dispute with Coca-Cola on conference call - On Monster Beverage's (MNST) Q3 earnings conference call, Monster CEO Rodney Sacks said, regarding Coca-Cola (KO) "I wanted to take a moment to address one aspect of our agreements with Coca-Cola. Among other provisions, these agreements between the company, Coca-Cola and certain affiliates restrict Coca-Cola from competing in the energy drink category with certain exceptions. As some of you may have read, Coca-Cola has developed two energy products it believes it may market under an exception related to the Coca-Cola brand. We believe that the exception does not apply. While mutual agreement to obtain clarification the issue was submitted to arbitration last week on October 31, 2018. Coca-Cola has indicated that it has suspended the proposed launch of such energy products until April 2019."
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SLF | Hot Stocks17:36 EDT Sun Life Financial raises quarterly dividend by 5% to CAD0.50 - The dividend is payable December 31, 2018 to shareholders of record at the close of business on November 28, 2018.
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MUR | Hot Stocks17:34 EDT Murphy Oil sees Q4 output of 167K-169K BOE/d vs. 169K in Q3
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FRSH | Hot Stocks17:33 EDT Papa Murphy's up 12% after Q3 results, saying exploring strategic alternatives
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FRSH | Hot Stocks17:32 EDT Papa Murphy's exploring strategic alternatives - Papa Murphy's announced that it is conducting a process to explore and evaluate strategic alternatives to maximize shareholder value and position the company for long-term success. The company has engaged North Point Advisors to act as its financial advisor to assist with the review. Papa Murphy's remains open to all strategic options that would enhance shareholder value for the long-term. Financial and strategic alternatives may include, but are not limited to, a possible sale of the business. There is no specific timetable for identifying potential transactions or transaction candidates and there is no assurance that any transaction will be completed. The company does not intend to make any further comment regarding such process unless its board has approved a specific course of action.
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FRSH | Hot Stocks17:31 EDT Papa Murphy's reports Q3 SSS decrease of 2.1% - Comparable store sales decreased 2.1% compared to Q3 of 2017, including a 1.8% decrease at global franchise-owned stores and a 6.9% decrease at company-owned stores.
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ETRN EQT | Hot Stocks17:27 EDT Equitrans Midstream Corp. to be added to S&P 400 at open on 11/13 - EQT (EQT) is spinning off approximately 80% of its stake in Equitrans Midstream (ETRN) effective after the close on Monday, November 12. Post spin-off, EQT and Equitrans Midstream will both have market caps more representative of the mid-cap market space.
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UNFI MDXG | Hot Stocks17:24 EDT United Natural Foods to replace MiMedx in S&P 600 at open on 11/12 - The NASDAQ Stock Market has determined MiMedx Group (MDXG) is no longer in compliance with listing standards. Therefore, MiMedx will no longer be eligible for the S&P SmallCap 600. United Natural Foods (UNFI) has a market capitalization that is more representative of the small-cap market space.
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MTZ UNFI | Hot Stocks17:22 EDT MasTec to replace United Natural Foods in S&P 400 at open on 11/12
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SPN FTK | Hot Stocks17:21 EDT Superior Energy to replace Flotek in S&P 600 at open on 11/14 - Superior Energy Services (SPN) will be removed from the S&P MidCap 400 effective prior to the opening on Wednesday, November 14, and will replace Flotek Industries (FTK) in the S&P SmallCap 600.
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HK | Hot Stocks17:20 EDT Halcon Resources sees Q4 production 18,000-20,000 Boe/d
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EQT JKHY | Hot Stocks17:19 EDT EQT Corporation to replace Jack Henry in S&P 400 at open on 11/13
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JKHY EQT | Hot Stocks17:18 EDT Jack Henry to replace EQT Corporation in S&P 500 at open on 11/13
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DISH T | Hot Stocks17:16 EDT HBO CEO issues statement on DISH service outage - HBO CEO Richard Plepler stated: "It's important to clarify that it was DISH who dropped the HBO and Cinemax signals at midnight on October 31st, not the other way around. In fact, we offered to extend our current contract while we continued negotiating. An idea that DISH initially agreed to and then oddly changed their mind about at the eleventh hour. The terms of our proposal were advantageous to DISH compared to their current deal. We're actually perplexed by their unwillingness to take this proposal as an opportunity rather than perpetuating a conflict which only hurts consumers. The notion that AT&T had anything to do with our inability to reach a reasonable deal with DISH is simply not true. It seems to be a silly but transparent attempt on DISH's behalf to muddy the waters for reasons only they can explain."
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METC | Hot Stocks17:09 EDT Ramaco Resources reports Q3 EPS 15c, consensus 28c - Reports Q3 revenue $62.2M, consensus $65.32M.
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EVC | Hot Stocks17:09 EDT Entravision says Chief Revenue Officer Mario Carrera to step down - Entravision Communications announced that Mario Carrera has decided to step down as Chief Revenue Officer. Entravision has commenced a search for a successor and Carrera will remain in his position until a replacement is named.
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REGN SNY | Hot Stocks17:05 EDT NEJM publishes 'positive' results of ODYSSEY OUTCOMES trial - Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that the New England Journal of Medicine has published positive detailed results of the 18,924-patient ODYSSEY OUTCOMES trial. The trial met its primary endpoint, showing that Praluent Injection significantly reduced the risk of major adverse cardiovascular events in patients who had suffered an acute coronary syndrome, which included a heart attack or unstable angina. MACE occurred in 903 patients (9.5%) in the Praluent group and in 1,052 patients (11.1%) in the placebo group. Death from any cause was less frequent among Praluent-treated patients. Praluent was associated with a 15% lower risk of death; death occurred in 334 (3.5%) patients in the Praluent group and 392 (4.1%) patients in the placebo group. The NEJM publication also includes results for MACE and other secondary endpoints including death, according to subgroups of baseline LDL-C (low-density lipoprotein cholesterol) levels, which are described in detail in the Supplementary Appendix. The data showed that patients with higher LDL-C at baseline (at least 100 mg/dL) were at greater risk of MACE, as well as other secondary endpoints, including death. Moreover, the greater risk-reduction occurred in this category of patients: in the Praluent group MACE was reduced by 24% and death from any cause was 29% lower compared to placebo. Adverse events were similar between groups, except for injection site reactions (Praluent 3.8%, placebo 2.1%).
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ATO | Hot Stocks17:02 EDT Atmos Energy raises quarterly dividend by 8.2% to 52.5c per share - The dividend will be paid on December 10, 2018, to shareholders of record on November 26, 2018.
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PYX | Hot Stocks17:01 EDT Alliance One to consolidate U.S. tobacco processing operations - Alliance One International, a Pyxus International company, announced its plans to consolidate all its U.S. tobacco processing operations to its Wilson, NC, facility by September 2019. The decision resulted from a review of the Company's U.S. tobacco operations and reflects a confluence of significant global events and ongoing trade conditions including new and increased tariffs on U.S. tobacco, declining export demand and the strong U.S. dollar. As part of the consolidation, Alliance One plans to repurpose its Farmville, NC, processing facility, resulting in a workforce reduction. The current tobacco processing operations in Farmville will be relocated to the Wilson facility, targeted to be effective as of the beginning of the 2019 season. The Company anticipates some jobs will shift from Farmville to the Wilson facility. The Farmville facility will be repurposed for storage and special projects.
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ATO | Hot Stocks17:01 EDT Atmos Energy names Kevin Akers as Executive VP - The board of Atmos Energy promoted Kevin Akers to the position of Executive Vice President, effective immediately. Kevin will remain a member of the management committee and continue to report to Mike Haefner, President and CEO. In addition to his previous responsibilities, including Pipeline Safety, Customer Service, Supply Chain Management, Facilities and Business Process & Change Management, he will now assume additional responsibilities over the company's pipeline and storage operations, with Dennis Gordon, President of Atmos Pipeline - Texas, reporting to him.
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WYNN | Hot Stocks17:01 EDT Wynn Resorts falls 12.3% after Q3 results
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ALRM | Hot Stocks17:00 EDT Alarm.com up over 20% after Q3 earnings beat and raised FY18 guidance
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ROKU | Hot Stocks16:59 EDT Roku down 10% afterhours following Q3 results and Q4 guidance
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SWM | Hot Stocks16:59 EDT Schweitzer-Mauduit down 8.1% after reporting Q3 earnings, giving FY18 guidance
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SWM | Hot Stocks16:58 EDT Schweitzer-Mauduit increases quarterly dividend 2.3% - The company announced a 2.3% increase of its per share quarterly cash dividend rate to 44c from 43c. The dividend will be payable on December 21 to stockholders of record as of November 30.
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QCOM | Hot Stocks16:58 EDT Qualcomm reports Q4 MSM chip shipments 232M, up 5% y/y
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QCOM | Hot Stocks16:57 EDT Qualcomm sees Q1 QTL revenues $1B-$1.1B, down 15%-23% y/y
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QCOM | Hot Stocks16:56 EDT Qualcomm sees Q1 MSM chip shipments 175M-195M - Down 18%-26% y/y.
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TTEC | Hot Stocks16:52 EDT TTEC Holdings sees 'renewed organic revenue growth' in 2019 - "Our strategy to differentiate our solutions portfolio and improve our go-to-market platform is a catalyst for anticipated renewed organic growth in 2019," commented Regina Paolillo, chief financial and administrative officer. "Market demand for our integrated suite of customer engagement offerings is accelerating with record level bookings in the second and third quarters of 2018, and continued strong bookings expected in the fourth quarter. We are especially pleased with the composition of new business signings in both our Customer Technology Services segment, driven by rapid adoption of our SaaS-based cloud platform and systems integration services, and our Customer Management Services segment." "We are also pleased with the sequential improvement in our third quarter revenue and operating income, with significant overperformance in our Customer Technology Services segment. As we approach year end, we are keenly focused on delivering performance in line with the guidance provided during our second quarter earnings call, maximizing our seasonal peak fourth-quarter volumes, remediating the challenges impacting our Customer Management Services segment, and executing upon the conversion of our growing pipeline and bookings. We are setting up well for 2019 and anticipate full year higher operating income margins on renewed organic revenue growth," continued Paolillo.
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WFT PBR | Hot Stocks16:48 EDT Weatherford awarded drillpipe riser contract with Petrobras - Weatherford (WFT) announced it has been awarded a four-year contract with a one-year optional extension to provide drillpipe riser intervention systems and services for Petroleo Brasileiro S.A. (PBR) in Brazil. This contract is expected to yield approximately $80M in revenue during the initial four-year period. It will replace a current five-system contract that began in May 2009.
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VYGR | Hot Stocks16:48 EDT Voyager told by FDA Phase 2 trial is an early phase exploratory study - The company said in today's earnings release, "As previously announced, in July 2018, Voyager received written Type C meeting feedback from the Food and Drug Administration indicating that the results from the Phase 2 randomized, placebo-controlled trial, if it were to meet its primary endpoint and in the absence of major safety concerns, likely may be considered sufficient for acceptance of submission for review of a BLA. In late October 2018, Voyager received an addendum from the FDA to the July 2018 written responses in which the FDA informed the Company that although the data from the Phase 2 trial may support the safety and efficacy of VY-AADC and could be considered in the BLA review, the FDA currently considers the Phase 2 trial as an early phase exploratory study. Voyager plans to engage with the FDA to gain further clarity on their most recent responses, including through a planned Type B meeting later this year and through the additional mechanisms available to the Company under the RMAT designation. Voyager plans to continue to seek and incorporate FDA guidance into the ongoing development plans for VY-AADC."
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VYGR | Hot Stocks16:45 EDT Voyager announces longer-term data for VY-AADC in Parkinson's disease - Voyager Therapeutics announced "positive" longer-term results from the open-label, dose-escalating Phase 1b trial of VY-AADC demonstrating sustained improvements in patients' motor function. Patients in the two highest dose cohorts experienced mean improvements in diary on-time without troublesome dyskinesia of 1.7 hours per day at 18 months and 2.7 hours per day at two years, respectively, the company said. It added, "Having selected a dose for the Phase 2 trial between the two highest dose cohorts from the Phase 1b trial, Voyager performed a combined analysis of the outcomes from the ten patients in Cohorts 2 and 3. This combined analysis demonstrated an increase from baseline in good ON time of 2.4 hours per day at 12 months, the timepoint for the primary endpoint in the Phase 2 trial, and 2.6 hours per day at 18 months, the latest timepoint measured for both cohorts. Of the combined ten patients in Cohorts 2 and 3, seven patients would be eligible for the Phase 2 trial based on limits in severity of dyskinesia and minimum OFF time at baseline. For these seven patients, the Phase 2 trial relevant group, the improvements in good ON time were 2.8 hours at 12 months and 2.5 hours at 18 months. These results were achieved with clinically meaningful and sustained reductions in daily oral levodopa and related medications."
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ROKU | Hot Stocks16:45 EDT Roku reports Q3 active accounts up 43% at 23.8M - Reports Q3 Streaming hours up 63% to 6.2B. Q3 Average Revenue Per User up 37% to $17.34. Q3 adjusted EBITDA $2.0M vs. ($3.7M) last year.
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TTWO | Hot Stocks16:44 EDT Take-Two says 'RDR2' sold more units in first 8 days than first 'RDR' in 8 years - "Take-Two delivered better-than-expected operating results, including growth in Net Bookings, during the fiscal second quarter," said Strauss Zelnick, Chairman and CEO of Take-Two. "This outperformance was driven primarily by Grand Theft Auto V and Grand Theft Auto Online, as well as the successful launch of NBA 2K19. On October 26th, Rockstar Games launched its highly-anticipated Red Dead Redemption 2, the label's first game built from the ground up for the current console generation. Red Dead Redemption 2 has received outstanding reviews, with numerous critics awarding the title a perfect score. The title is now tied with Grand Theft Auto V as the highest rated title on PlayStation 4 and Xbox One, with a 97 Metacritic score. A massive commercial success, Red Dead Redemption 2 has set numerous records, including achieving the biggest opening weekend in the history of entertainment, with over $725 million in retail sell-through during its first three days. Red Dead Redemption 2 sold-in more units in its first 8 days than the original blockbuster Red Dead Redemption sold in its first 8 years and, as of today, the title has sold-in over 17 million units worldwide."
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VYGR | Hot Stocks16:43 EDT Voyager Therapeutics promotes Allison Dorval to CFO - Voyager Therapeutics said it promoted Allison Dorval to the position of Chief Financial Officer from her previous position as vice president of finance. She remains the company's principal finance and accounting officer. Dorval, a certified public accountant, joined Voyager in June 2017.
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PTLA | Hot Stocks16:42 EDT Portola Pharmaceuticals lowers view for GAAP operating expenses to $355M-$365M - For the fiscal year 2018, Portola is updating its guidance for GAAP operating expenses, which are now expected to be between $355 million and $365 million, a decrease from the prior guidance range of between $390 million and $430 million, both including stock-based compensation. The updated guidance reflects the Company's narrowed focus on a group of key hospitals for the Bevyxxa launch, as well as additional cost savings for the year.
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CNS | Hot Stocks16:42 EDT Cohen & Steers declares special cash dividend of $2.50 per share - The company's Board of Directors declared a special cash dividend in the amount of $2.50 per share of common stock. The special dividend will also be payable on December 3, 2018 to stockholders of record at the close of business on November 19, 2018.
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RGNX | Hot Stocks16:42 EDT Regenxbio sees 2018-end cash and marketable securities $460M-$470M
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MSBF | Hot Stocks16:42 EDT MSB Financial announces 46c per share special dividend - MSB Financial Corp., the holding company for Millington Bank, announced that its board has declared a special cash dividend of 46c per share on its outstanding common stock, payable on or about December 5 to stockholders of record as of the close of business on November 23.
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ORCL | Hot Stocks16:40 EDT Federal Court orders Rimini Street to comply with permanent injunction - On Monday, a federal appeals court rejected Rimini Street's motion to stay and effectively delay a permanent injunction issued by the Federal District Court in Nevada. That injunction prohibits Rimini Street from engaging in specific unlawful practices in connection with its core business practices as found in Oracle's 2015 copyright infringement trial against Rimini Street and its founder, Seth Ravin. The trial court had determined earlier that the more than $100 million that Rimini Street paid to Oracle in damages following trial was inadequate to fully compensate Oracle for Rimini Street's copyright infringement, citing "Rimini Street's conscious disregard for Oracle's software copyrights" and the fact that Rimini Street's business model "was built entirely on its infringement of Oracle's copyrighted software." The Court ruled that Rimini Street can only provide support for Oracle's PeopleSoft, J.D. Edwards, Siebel, and Database software subject to certain court-mandated restrictions, as set forth in the injunction. While Rimini Street made public statements suggesting that it can comply with the injunction without changing its business model, it told the federal appeals court a different story in court filings. Rimini Street instead argued that the "injunction goes far beyond the changes that Rimini Street [already] made in response" to the Nevada court's rulings, and would therefore harm its business. Rimini Street must now comply with all the terms of the injunction while its latest appeal is pending.
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FOSL | Hot Stocks16:39 EDT Fossil up 11.5% after reporting Q3 earnings, giving Q4, FY18 guidance
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MRO | Hot Stocks16:38 EDT Marathon Oil sees Q4 U.S production 295,000-305,000 net boed - Marathon Oil expects fourth quarter 2018 U.S. production to average 295,000 to 305,000 net barrels of oil equivalent per day (boed). The Company expects fourth quarter 2018 U.S. resource play production to average 290,000 to 300,000 net boed, with oil production expected to increase approximately 5 percent sequentially despite a planned modest quarter-on-quarter reduction in wells to sales. Full-year wells to sales continues to trend slightly above the midpoint of guidance. Fourth quarter 2018 International production is expected to average 105,000 to 115,000 net boed, affected by the timing of planned maintenance in E.G. The Company increased its annual 2018 total Company production guidance to 405,000 to 415,000 net boed, up from 400,000 to 415,000 net boed. The Company also raised its guidance for annual resource play oil and barrel of oil equivalent (boe) growth to 30 - 34 percent, up from 28 - 32 percent previously, with oil expected to be at the high end of the range. All guidance is adjusted to reflect the divestment of non-core U.S. assets that closed in July, and which contributed 1,000 boed (75% oil) to third quarter production, as well as an international asset sale that closed in August, and which contributed 1,400 boed to third quarter production (100% oil).
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MRO | Hot Stocks16:37 EDT Marathon Oil reports Q3 production 419,000 net boed - Total third quarter production averaged 419,000 net boed, above the high end of guidance; total oil production averaged 204,000 net bopd, up 3% compared to the prior quarter on a divestiture adjusted basis.
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FRSH | Hot Stocks16:35 EDT Papa Murphy's trading resumes
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TTGT | Hot Stocks16:34 EDT TechTarget announces additional $25M stock repurchase program - TechTarget announced an additional stock repurchase program of $25M over a two-year period beginning in November 2018.
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FLO | Hot Stocks16:32 EDT Flowers Foods to acquire Canyon Bakehouse for approximately $205M - Flowers Foods announced a definitive agreement to acquire Canyon Bakehouse LLC, a privately held, gluten-free baking company based in Johnstown, Colo., for approximately $205 million (including a performance-based contingent payment of $5 million), or $175 million net of future tax benefits of approximately $30 million on a net present value basis. The acquisition, which is subject to regulatory approval and customary closing conditions, is expected to be completed later in the fourth quarter of 2018. Canyon Bakehouse has generated a compound annual net sales growth rate of approximately 45% since 2014. According to IRI and SPINS data, the gluten-free packaged bread category has grown at a compound annual growth rate of 6.6% per year since 2015, outperforming the broader $14.5 billion U.S. retail baked goods market.3 The company has anticipated 2019 sales of approximately $70 million to $80 million. Flowers plans to fund the transaction with cash on-hand and existing credit facilities. The company anticipates the transaction will be accretive to fiscal 2020 earnings.
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TLND | Hot Stocks16:31 EDT Talend to acquire Stitch for approximately $60M in cash - In a move designed to accelerate its cloud momentum, Talend announced it has entered into a definitive agreement to acquire Stitch, a leader in the fast-growing, self-service data integration market. Stitch offers an easy-to-use service for moving data from popular sources to leading cloud data warehouse platforms. The acquisition gives Talend both a strong solution for the cloud data warehouse market and a frictionless sales motion to land new cloud customers efficiently. Under the terms of the agreement, Talend will acquire Stitch for approximately $60 million in cash, subject to certain transaction adjustments. The transaction is expected to close later in the fourth quarter subject to customary closing conditions.
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CSOD | Hot Stocks16:31 EDT Cornerstone OnDemand to acquire Grovo Learning for $24M in all-cash deal - Cornerstone OnDemand announced that the company signed a definitive agreement to acquire Grovo Learning, Inc., the leading provider of micro-learning content, for $24M in an all-cash deal, subject to certain closing adjustments. The acquisition of Grovo is expected to close in the fourth quarter of 2018. In conjunction with this acquisition, Cornerstone also announced an expansion of its Content Anytime subscription offerings. Content Anytime is a content subscription service that enables organizations to provide their employees with fresh, modern content that puts them in control of their own career development. The subscriptions support all types of modern learning formats, from micro-learning (shorter, easily consumable courses) to macro-learning (deeper mastery of a subject or skill) to spaced-learning (courses broken into sections, with timed intervals for questioning in between). Cornerstone continually adds and refreshes course content by combining insights from nearly 20 years of learning and development expertise and the most in-demand, user-driven content recommendations informed by usage data and feedback from Cornerstone's massive community. Starting today, Cornerstone will offer a range of subscriptions beyond its popular Content Anytime Essentials offering, including thematic subscriptions for compliance and digital transformation, as well as regional subscriptions for France, Germany and Spain. Cornerstone expects to incorporate Grovo content across its Content Anytime subscription service.
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TLND | Hot Stocks16:30 EDT Talend to acquire Stitch for $60M - Talend announced it has entered into a definitive agreement to acquire Stitch, a leader in the fast-growing, self-service data integration market. Stitch offers an easy-to-use service for moving data from popular sources to leading cloud data warehouse platforms. The acquisition gives Talend both a strong solution for the cloud data warehouse market and a frictionless sales motion to land new cloud customers efficiently. Under the terms of the agreement, Talend will acquire Stitch for approximately $60M in cash, subject to certain transaction adjustments. The transaction is expected to close later in Q4 subject to customary closing conditions.
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SREV | Hot Stocks16:29 EDT ServiceSource names Gary Moore as Executive Chairman - ServiceSource announced that Gary B. Moore, currently a member of the Company's Board of Directors has been appointed Executive Chairman, effective today. The Company also announced that effective today, Debbie Dunnam, Executive Vice President, has been named Chief Operating Officer.
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NBHC | Hot Stocks16:29 EDT National Bank raises quarterly dividend 21% to 17c from 14c per share - The dividend will be payable on December 14, 2018 to shareholders of record at the close of business on November 30, 2018.
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XONE | Hot Stocks16:28 EDT ExOne names John Hartner COO - The ExOne Company announced that its Board of Directors elected John F. Hartner as ExOne's Chief Operating Officer. S. Kent Rockwell, ExOne's Chairman and CEO, stated, "John brings to ExOne a wealth of knowledge and experience specific to the 3D printing industry as well as global industrial manufacturing. We are confident that this addition to our global leadership team will bolster our efforts to advance our binder jetting technology."
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AAN | Hot Stocks16:27 EDT Aaron's raises quarterly dividend 16.7% to 3.5c per share - Payable January 7, 2019 to shareholders of record as of the close of business on December 20, 2018.
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COST | Hot Stocks16:26 EDT Costco reports October comparable sales up 8.6% - Costco Wholesale reported net sales of $11.16B for the retail month of October, the four weeks ended November 4, an increase of 10.6% from last year. Comparable sales were up 10.4% for U.S., 2.4% for Canada and up 8.6% for total company. E-commerce comparable sales were up 20.0%. Total company comparable sales excluding the impacts from changes in gasoline prices, foreign exchange and a previously disclosed accounting change were up 6.6%.
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TTWO | Hot Stocks16:25 EDT TakeTwo Interactive Software trading resumes
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LBTYA | Hot Stocks16:23 EDT Liberty Global reconfirms all guidance for 2018 - Still sees 2018 Rebased OCF Growth ~5%, P&E Additions $5.1B.
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BTN | Hot Stocks16:22 EDT Ballantyne Strong names Mark Roberson CFO - Ballantyne Strong (BTN) announced that Mark Roberson will join the company as Executive Vice President and Chief Financial Officer effective November 16. Roberson has served most recently as Chief Operations Officer of Chanticleer Holdings (BURG).
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PRU | Hot Stocks16:21 EDT Prudential reports Q3 adjusted book value per share $95.20 vs. $85.03 last year - Q3 Net income attributable to Prudential Financial amounted to $1.67B vs. $2.24B last year.
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IAC | Hot Stocks16:15 EDT IAC sold Dictionary, TV production company Electus for $130M - The company said in its letter to shareholders, "Since the end of the quarter we entered into an agreement to sell Dictionary and sold our television production company, Electus, for a combined $130 million. Neither business was a focus for IAC's future, so we thought them better held in more enthusiastic hands. Plus, both businesses were previously included in a pile of assets to which the market ascribes negative value - $130 million of cash in the bank will be much easier to value and can now be used to fund ambitions elsewhere."
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IAC | Hot Stocks16:13 EDT IAC has 'great confidence' in outlook - The company said in its letter to shareholders, "With volatility everywhere - markets, governments, news, tempers - we appreciate the strength and stability of our businesses right now. People may be long on 140-character opinions and short on meaningful dialogue, but a desire for romance remains. And everyone from single people to families are still fixing their boilers, remodeling their bathrooms, and cleaning up their yards. We delivered strong growth across almost all of our businesses and have great confidence in our outlook. By year end we should have over $1.7 billion of cash at IAC (excluding ANGI Homeservices and Match Group cash) and ample debt capacity across our businesses...We're also going to make Vimeo its own segment, so shareholders can see progress more granularly through revenue and investment (operating losses) each quarter. The business has the scale and potential to now stand on its own, and we want to begin to put a spotlight on it."
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AXAS | Hot Stocks16:12 EDT Abraxas Petroleum sees FY18 production of 10,000-11,000 boepd - The Board of Directors of Abraxas have approved a Capital Budget for 2019 of $108M. The budget entails a continuation of a one rig program in the Bakken to drill and/or complete 13 wells, a continuation of a one rig program in the Delaware Basin to drill and/or complete 12 wells, and $11M for acreage and facilities. This budget is designed to generate free cash flow during 2019. Abraxas plans to issue additional guidance for 2019 when results from the recently completed Bakken wells and one soon to be completed Delaware well are known.
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ZAYO | Hot Stocks16:10 EDT Zayo to separate into two public companies - Zayo Group announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers. Zayo Infrastructure, "InfraCo," will be a unique, fiber-focused infrastructure provider with deep, dense networks and broad geographic reach throughout North America and Western Europe. "EnterpriseCo" will have a strong product portfolio and customer base centered on higher bandwidth connectivity to enterprise locations, including to public cloud and SaaS providers, that will be sold both directly to enterprise customers and wholesale through a carrier focused channel. The transaction is expected to be consummated via a pro rata taxable spin of EnterpriseCo from Zayo. Zayo's existing NOLs are expected to be available to reduce any cash taxes owed by Zayo in conjunction with the spin-off. This structure preserves the ability for InfraCo to convert to a real estate investment trust. Consummation of the spin is subject to regulatory and Board approval. Immediately following the separation transaction, which is expected to be completed in late 2019, Zayo shareholders will own shares of both companies.
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BREW | Hot Stocks16:05 EDT Craft Brew sees 2019 total depletions, shipments down 1% to up 1% - The company said, "Based on our solid year-to-date performance, we are updating and tightening our guidance as follows: Total depletions and shipments ranging between a decline of 1% and an increase of 1%, reflecting continued progress in harmonizing our supply chain: Average price increases of 2% to 3%, reflecting improvements in revenue management and lower federal excise taxes; Total gross margin rate of 33.0% to 34.0%, reflecting increases in net revenue per barrel, continued improvements in brewery operations, lower fixed overhead, and ongoing efforts to stabilize pub operations; SG&A expense ranging from $62 million to $63 million, as we continue to reinvest cost savings into our brands and expand our consumer and trade marketing programming; Capital expenditures of $16 million to $17 million. Due to variability in the timing of certain significant progress payments related to construction of the new 100,000-barrel Kona brewery, there could be a shift of up to $6 million from this year into 2019; Effective tax rate of 25.5%, a decrease of 250 basis points from the previously communicated tax rate guidance, primarily as a result of the IRS's clarification that certain business expenses continue to qualify for a 50% deduction for income tax purposes."
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DVA | Hot Stocks16:05 EDT DaVita provides 2018 guidance - DaVita narrowed 2018 Kidney Care adjusted consolidated operating income to $1.5B-$1.525B from $1.5B-$1.6B. Still expects operating cash flow from continuing operations of $1.4B-$1.6B. Raises 2018 effective income tax rate to 30.5%-31.5% from 28.5%-29.5%.
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WYNN | Hot Stocks16:05 EDT Wynn Resorts reports Q3 Wynn Macau revenue $579.6M, up 3.1% - Reports Q3 Las Vegas Operations revenue $398.9M, down 14.1%.
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IMMU AZN | Hot Stocks16:04 EDT Immunomedics expands collaboration with AstraZeneca, MedImmune to include NSCLC - Immunomedics (IMMU) announced its current clinical collaboration with AstraZeneca (AZN) and MedImmune for the development of Imfinzi and sacituzumab govitecan combination therapy has been broadened to include second-line metastatic non-small cell lung cancer, or NSCLC. Immune checkpoint inhibitors, or CPI, have drastically changed the treatment landscape in NSCLC and significantly improved patient outcomes. However, there is still a substantial proportion of patients who don't benefit from CPIs. As CPIs increasingly move into front-line therapy, either alone or in combination with chemotherapy, treatment options for second-line and beyond are limited to single agent chemotherapies, which have only very modest activity. Thus, there is a high unmet need in NSCLC for patients who don't respond or have progressed after treatment with CPIs. Sacituzumab govitecan as monotherapy has produced an overall response rate, or ORR of 19% in 47 patients with pretreated metastatic NSCLC with a duration of response of 6 months. In a subgroup of patients who had previously been treated with CPIs as their last line of therapy, ORR was 14%. This open-label, multi-center Phase 1/2 study will enroll two cohorts of patients, one in CPI primary refractory, and one in acquired resistance to CPI.
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TTEK | Hot Stocks16:03 EDT Tetra Tech announces new $200M stock buyback - The Board authorized a new program to repurchase up to $200M of common stock. This new program is in addition to the $25 million remaining under the previously approved $200 million share repurchase program announced on November 9, 2016.
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ZUMZ | Hot Stocks16:02 EDT Zumiez reports October SSS increased 1.6% - Zumiez announced, that total net sales for the four-week period ended November 3, 2018 increased 0.6% to $61.9M million, compared to $61.5 million for the four-week period ended October 28, 2017. The Company's comparable sales increased 1.6% for the four-week period ended November 3, 2018 compared to a comparable sales increase of 6.6% for the four-week period ended October 28 2017.
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KTOS | Hot Stocks16:01 EDT Kratos Defense completes third milestone in critical deployment study - Kratos Defense & Security Solutions announced that it has successfully completed the third phase of a pathfinder study for migrating the Command and Control System - Consolidated ground system to the Enterprise Ground Services architecture. CCS-C currently operates a fleet of over 20 Military Satellite Communications satellites in four different constellations.
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TTWO | Hot Stocks16:01 EDT TakeTwo Interactive Software trading halted, news pending
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FRSH | Hot Stocks16:00 EDT Papa Murphy's trading halted, news pending
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CHH... | Hot Stocks15:57 EDT Choice Hotels announces launch with Book On Google - Choice Hotels (CHH) announced that it is enabling Book on Google, making it possible for travelers to "seamlessly search, select, and reserve hotel rooms at Choice properties." Robert McDowell, chief commercial officer of Choice Hotels, said, "At Choice Hotels, we are committed to being at the forefront of technology and innovation for our consumers and hotel owners. Along with ChoiceHotels.com and the Choice Hotels app, Book on Google provides our guests with another frictionless path to reserve a hotel room with many of the benefits of booking direct."
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SSNLF... | Hot Stocks15:07 EDT Samsung partners with Northrop Grumman, Tyler over CAD solutions for wearables - Samsung Electronics America, Inc. (SSNLF) is extending the reach of Computer Aided Dispatch with Samsung Galaxy smartwatches. Through partnerships with public safety solution providers Northrop Grumman (NOC), CentralSquare Technologies, Caliber Public Safety and Tyler Technologies (TYL), Samsung now offers a suite of wearable solutions that enable emergency responders to maintain always-on connectivity and communication, as well as location awareness, without requiring a mobile data terminal or mobile phone close by. Outfitted with the custom IP68/MIL-STD Galaxy smartwatches, a broader range of responders-such as those on bicycles and horseback-can receive and respond to emergency dispatches and changing dispatch call status. "Public safety is now moving to achieve real benefits from the Internet of Life Saving Things, thanks to crucial advances in hardware and software capabilities," said TJ Kennedy, Co-Founder of the Public Safety Network. "Samsung bringing CAD to its market-leading Galaxy smartwatches is a great example of this, and another example of how the company is committed to innovation and technical leadership in the public safety space." "The Galaxy smartwatch solutions we have developed with our partners Northrop Grumman, CentralSquare Technologies, Caliber Public Safety and Tyler Technologies solve for a range of mobile challenges in the field," said Reg Jones, U.S. Head of Public Sector, Samsung Electronics America. "Beyond the communications and connectivity benefits, these devices now help public safety agencies gain real-time awareness of their teams' health and wellness in the field, and provide critical information and location data into command views of incidents. We are excited for the potential this offers to first responders everywhere."
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ACB... | Hot Stocks15:06 EDT Cannabis stocks rise after Jeff Sessions resigns as Attorney General - Several marijuana stocks are on the rise after Attorney General Jeff Sessions submitted his resignation at the request of President Donald Trump. Sessions has been vehemently against legalizing marijuana and was seen by many as the only thing deterring legalization on a federal level. JEFF SESSIONS RESIGNS: In a couple of tweets, President Donald Trump said that "We are pleased to announce that Matthew Whitaker, Chief of Staff to Attorney General Jeff Sessions at the Department of Justice, will become our new Acting Attorney General of the United States. He will serve our Country well. We thank Attorney General Jeff Sessions for his service, and wish him well! A permanent replacement will be nominated at a later date." The departure of Sessions, once one of Trump's most vocal and earliest supporters during the 2016 campaign, has been rumored for weeks. PRICE ACTION: In afternoon trading, shares of Aurora Cannabis (ACB) and Canopy Growth (CGC) each rose over 4%, CannTrust Holdings (CNTTF) gained 2%, Cronos Group (CRON) advanced 6%, General Cannabis (CANN) rose 8.5%, India Globalization Capital (IGC) jumped 32.5% and Tilray (TLRY) is up 26%.
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CUB | Hot Stocks15:02 EDT Cubic to showcase expeditionary C4ISR solutions at MilCIS 2018 - Cubic announced that its Cubic Mission Solutions business division will demonstrate expeditionary Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance, C4ISR,solutions at the 2018 Military Communication and Information System Conference, MilCIS, in Canberra, Australia. Taking place November 13-15, MilCIS is the only Australian conference that focuses strategically on the crucial technologies, products as well as systems and services associated with military communications and information systems."Cubic's expeditionary C4ISR capabilities provide operational advantages for our customers at the tactical edge," said Mike Twyman, president of Cubic Mission Solutions. "Our solutions are interoperable, modular and deployable to enable mobility and improve resiliency in communications. We look forward to the opportunity to showcase our capabilities to the Australian Defence Force."
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ARDS | Hot Stocks14:48 EDT Aridis CEO says reimbursement, mAb effectiveness concerns not warranted - In an exclusive interview with The Fly, Aridis Pharmaceuticals (ARDS) CEO Vu Truong clarified potential misconceptions regarding the company: "There are many potential misconceptions! [Namely that] we are an antibiotic company, mAbs will not be as effective as antibiotics, many mAbs will be needed in a cocktail to effectively neutralize the pathogen, reimbursement will be a problem as with any other antibiotic and thus market opportunity will be limited, mAbs are expensive to develop and manufacture, and mAbs are more vulnerable to drug resistance. All of the above are simply not true." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company.
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CGC... | Hot Stocks14:47 EDT Cannabis stocks rising after Sessions replaced as Attorney General - Publicly traded companies in the cannabis space include Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC) and Tilray (TLRY).
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ARDS | Hot Stocks14:21 EDT Aridis CEO expects global AR-301 Phase 3 study to start before year-end - In an exclusive interview with The Fly, Aridis Pharmaceuticals (ARDS) CEO Vu Truong talked about the company's upcoming events: "For the remainder of 2018, Aridis expects to receive FDA and EMA concurrence on our innovative primary endpoint and study design for our Phase 3 study of AR-301, the company's lead mAb candidate. We also expect to initiate the global Phase 3 study for AR-301 and a Phase 1/2a study on our AR-501. In 2019, the company is expected to deliver clinical data on its ongoing global Phase 2 study of AR-105, the Phase 1 study results of AR-501, and interim data readout on the Phase 3 study of AR-301." Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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INGN | Hot Stocks14:13 EDT Inogen falls sharply after quarterly results, guidance reduction - Shares of Inogen (INGN), a medical technology company, that primarily develops, manufactures, and markets portable oxygen concentrators, are plunging after reporting third quarter results after the close of trading Tuesday night. THIRD QUARTER BEAT: The company reported Q3 EPS of 73c on revenue of $95.3M. Analysts were expecting EPS of 52c on revenue of $90.9M. Direct-to-consumer sales rose 66.3% over the same period in 2017, primarily due to increased sales representative headcount and additional consumer advertising. Domestic business-to-business sales grew 32.0% over the same period in 2017, primarily driven by continued adoption by traditional home medical equipment providers and internet resellers. GUIDANCE LIGHT: Inogen said it sees 2018 revenue $345M-$355M against estimates of $349.9M. The company also reduced its guidance range for FY18 adjusted EBITDA to $60M-$62M, down from $65M-$69M, representing growth of 18.0%-22.0% versus FY17 results due to continued sales and marketing investments expected in Q4 of 2018. The company is also providing a guidance range for FY19 adjusted EBITDA of $67M-$71M, representing 9.8%-16.4% growth over the FY18 guidance mid-point of $61M. Inogen expects FY19 operating income to be $46M-$50M, representing 27.8%-38.9% growth over the FY18 guidance mid-point of $36M, primarily due to continued sales and marketing investments expected in FY19. PRICE ACTION: Shares of Inogen are down more than 19% to $156.44 in afternoon trading.
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ARDS | Hot Stocks14:03 EDT Aridis CEO sees less concern about pricing with anti-infectives - In an exclusive interview with The Fly, Aridis Pharmaceuticals (ARDS) CEO Vu Truong discussed drug pricing concerns as President Trump continues to be very vocal on the healthcare industry: "The concerns for more reasonable drug pricing have mainly been associated with orphan drugs, cancer drugs, certain cardiovascular and anti-inflammation drugs. For anti-infectives, mainly antibiotics, there is significantly less concern about pricing and more governmental concern about the dwindling industry pipeline and how to create pricing incentive for new antibiotics. Nevertheless, most infectious diseases provide for attractive opportunities for demonstration of premium pricing that are value- and outcome-based, and so will be consistent with the increasing desire for rational drug pricing. The key is to identify the appropriate unmet medical need and to clinically develop the candidate that will result in a clear, unambiguous demonstration of patient and payor benefits. Aridis' initial focus on nosocomial pneumonia provides opportunities for the demonstration of both premium pricing and value-based pricing because it is a critical infection in a very high hospitalization cost environment." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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ARDS | Hot Stocks13:42 EDT Aridis' Truong sees immunotherapy making current antibiotics 'obsolete' - In an exclusive interview with The Fly, Aridis Pharmaceuticals (ARDS) CEO Vu Truong talked about the market opportunity for using immunotherapy to treat infections: "The use of immunotherapy to treat infections has the chance to eventually make all antibiotics that are in use today obsolete. This is driven by a number of recent advances, including the use of data mining and machine learning to more intelligently identify vulnerable targets on the microbe, the ability to comprehensively screen the entire B-cell and T-cell repertoire to identify rare cells that are uniquely generated by the host immune system to fight infection, the ability to further engineer the antibody molecule to have a better activity profile than what the host originally generated (longer plasma half-life, better effector function, form drug conjugate, etc.) and engineer the immune cells to recognize foreign invaders, and our ability to rapidly and cost effectively manufacture mAbs. Finally, the on-going proliferation of rapid diagnostic tests is allowing the physician to identify precisely what is infecting their patients within hours of patient sample collection, and will drive a paradigm shift from the current risky practice of empirical, broad spectrum antibiotic treatments to evidence-based, diagnostic driven, targeted anti-infective therapies. The market opportunity for these immunotherapies will also be made attractive by Aridis' use of superiority clinical trial design, which is a departure from the non-inferiority trial design that is used for almost all antibiotics that have been brought to market to date. The use of non-inferior trial designs has been a key Achilles heel of the antibiotics industry because it does not allow for differentiation of the candidate drug to standard of care drugs in safety and efficacy. This has resulted in a lack of product differentiation of the market opportunity and lack of market adoption, and ultimately downward price pressure. Superiority trial designs allow for demonstration of patient and payor benefits over standard-of-care drugs. Infections in high hospital cost environments such as ICUs, e.g. ventilator associated pneumonia, and demonstration of clinical benefits will also result in demonstration of strong pharmacoeconomic benefits, and ultimately opportunity for value-based and outcome-based premium pricing." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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CAG | Hot Stocks13:42 EDT CDC investigating five illnesses for possible link to Conagra Brands cake mixes - The Centers for Disease Control and Prevention announced that the CDC, state partners, and FDA are investigating five illnesses in three states to determine if they are linked to recently recalled Duncan Hines cake mixes. On November 5, 2018, ConAgra Brands recalled four varieties of Duncan Hines cake mix after officials in Oregon identified Salmonella Agbeni in a box of Duncan Hines Classic White Cake Mix. CDC reviewed the PulseNet database and identified five recent infections with the same strain of Salmonella Agbeni as the Salmonella strain identified in the cake mix. Illnesses were reported from three states: Maryland, Ohio, and Wisconsin. None of the ill people were hospitalized, and none died. The investigation is ongoing to determine if these illnesses are linked to Duncan Hines cake mix and the CDC said it will provide updates as more information becomes available.
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PCRFY | Hot Stocks13:32 EDT Panasonic, Mobike weigh partnership over IoT electric-assist bikes - Panasonic Cycle Technology Co., Ltd, a division of Panasonic Corporation specialized in bicycles and accessories, and Beijing Mobike Technology Co., Ltd. , a Chinese bike sharing service provider, agreed to consider a partnership in the field of IoT electric-assist bikes. The two companies aim to explore opportunities to jointly develop and provide highly convenient bikes for bike sharing and rental service users. Internet-connected IoT e-bikes allow users to unlock them by using their smartphones and also allow user to record riding data. Using GPS, they can achieve high security, traceability and control parking location as well. Beijing Mobike Technology operates bike sharing service "Mobike," which is provided not only in major cities in China but also in Singapore, Italy and the United Kingdom. In Japan, Mobike Japan started business in August 2017 in Sapporo. Mobike's shared bikes feature an electronic lock which allows users to unlock by scanning QR code.
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ARDS | Hot Stocks13:22 EDT Aridis CEO says MabIgX technology enables manufacturing mAbs faster - In an exclusive interview with The Fly, CEO Vu Truong discussed Aridis Pharmaceuticals' (ARDS) fully human monoclonal antibodies, or mAbs, discovery platform: "Antimicrobial drugs are generally small molecule drugs that are either synthetically made or derived from byproducts of microbes or other species. Antibiotics have been used successfully for the past 8 decades, but have variable safety challenges, perturb the human microbiome because of their broad spectrum of activity, and increasingly are rendered ineffective by the rise in drug resistance. What makes Aridis' approach innovative is the use of targeted immunotherapy to treat an infection that is directed by diagnostic confirmation of the disease-causing microorganisms. Furthermore, our innovative strategy for fighting infections uses large molecules in the form of monoclonal antibodies that are derived from patients who are either highly vaccinated or recovering from an illness. These mAbs are functionally optimized by the patient's own immune system and are directed against epitopes that are foreign to humans (foreign also to the human microbiome) and so have an attractive safety profile, and have long durability of action (plasma half-life of weeks vs. hours for antibiotics). Hence, Aridis is looking inward to the body's natural immune response against the pathogens to innovate. Our MabIgX technology platform allows for the rapid and comprehensive screening of the entire B-cell repertoire to search for rare, highly potent antibacterial, antiviral, or anti-fungal mAbs that are generated by the convalescent patients, and enables manufacturing of mAbs faster than current manufacturing timelines." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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ITG | Hot Stocks13:21 EDT SEC orders ITG to pay $12M penalty for misleading dark pool subscribers - The Securities and Exchange Commission announced that ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12M to settle charges arising from ITG's misstatements and omissions about the operation of the firm's dark pool, POSIT, and ITG's failure to establish adequate safeguards and procedures to protect POSIT subscribers' confidential trading information. The SEC's order finds that despite assuring subscribers that it would maintain the confidentiality of their trading information, ITG improperly disclosed the confidential dark pool trading information of firm clients. For example, from 2010 to 2015, ITG sent daily Top 100 Reports for the prior day's trading activity. The reports identified the top 100 stocks for which certain orders were submitted to POSIT and the top 100 stocks for which certain orders were executed. ITG informed some high frequency trading firms that they could use these Top 100 Reports to identify "potential unsatisfied liquidity needs" in the dark pool, despite assuring subscribers that ITG would not signal their trading intentions. According to the SEC's order, ITG misleadingly omitted important structural features of the dark pool. Without admitting or denying the findings, ITG and AlterNet consented to the entry of the SEC's order finding that they violated the antifraud provisions of the securities laws as well as the rules governing the requirements for dark pools. The order directs ITG and AlterNet to cease and desist from committing or causing any future violations of those provisions, censures ITG and AlterNet, and orders them to pay the $12M penalty.
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IRIX | Hot Stocks13:19 EDT Wasatch Advisors reports 10.8% passive stake in Iridex
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GOOG... | Hot Stocks13:16 EDT Trump says would talk to Democrats about social media regulation - President Trump said at today's ongoing press conference that he would talk to Democrats about regulating the social media companies. He noted that he thinks Democrats want to do that.
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DWDP | Hot Stocks13:07 EDT Dow sees raising EBITDA to cash flow from operations conversion to best-in-class - Howard Ungerleider, president and CFO of Dow, said: "We have established a capital structure and balance sheet for the new Dow that will serve as a strong foundation to continue our profitable growth and increase shareholder returns. We have the strategy, portfolio, management team and mindset in place to capitalize on the significant earnings and cash flow upside opportunities in front us." At its investor day meeting, the CFO plans to outline how the company will deliver against the following near-term financial targets: A return on invested capital that exceeds Dow's target of 3 percent above the weighted average cost of capital; Achieve and maintain a strong BBB or higher credit rating; Increase EBITDA to cash flow from operations conversion toward best-in-class levels; Share repurchases of at least 20% of net income; and a dividend payout ratio of approximately 45% of net income across the economic cycle.
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OHGI | Hot Stocks13:07 EDT One Horizon Group receives 180-day extension from Nasdaq to regain compliance - One Horizon Group announced that it has received a letter from Nasdaq Listing Qualifications stating that OHGI has been granted an additional 180-day grace period, or until May 6, 2019, to regain compliance with the minimum $1 bid price per share requirement in accordance with Nasdaq's Listing Rules. If at any time during this Second Compliance Period, the closing bid price of OHGI's common stock is at least $1 per share for a minimum of 10 consecutive business days and Nasdaq has determined that OHGI is otherwise in compliance with the Listing Rules, Nasdaq has confirmed that it will provide written confirmation of compliance and this matter will be closed.
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DWDP | Hot Stocks13:04 EDT DowDuPont says Dow on track for intended separation on April 1, 2019 - Dow announced that it will lay out its operating and financial priorities, as well as the key pillars of its near-term growth and shareholder return targets upon separation from DowDuPont, at its investor day event at 1 p.m. ET. "Since closing our merger with DuPont, Dow has worked quickly and methodically to focus our business portfolio, streamline our cost structure, and refine our approach to capital and resource allocation. These and other step-changes in our operating and financial priorities and management mindset well position the new Dow to deliver more differentiated products and solutions for our customers and higher returns and lower-risk growth for our shareholders," said Jim Fitterling, CEO of Dow. In September, Dow filed its initial Form 10 registration statement with the U.S. Securities and Exchange Commission, marking a significant step towards the separation of the new Dow. The Form 10 process is iterative, and in October, the Company filed the first amendment to the document. Dow remains on track for its intended separation from DowDuPont on April 1, 2019.
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NDRA | Hot Stocks13:01 EDT ICM Asset Management reports 10.4% passive stake in ENDRA Life Sciences
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ARDS | Hot Stocks13:01 EDT Aridis expects to initiate global Phase 3 study for AR-301 this year
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ARDS | Hot Stocks13:01 EDT Aridis CEO sees 'significant less' concern about pricing with anti-infectives
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ARDS | Hot Stocks13:01 EDT Aridis: Non-inferior trial designs 'key Achilles heel' for antibiotics industry
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ARDS | Hot Stocks13:01 EDT Aridis CEO sees immunotherapy making current antibiotics 'obsolete'
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AMD... | Hot Stocks12:58 EDT Analysts see AMD competitive positive improving after Next Horizon event - Following AMD's (AMD) Next Horizon event, KeyBanc analyst Weston Twigg told investors that he believes growth will likely accelerate in 2020 on the company's "compelling" datacenter strategy. Meanwhile, his peer at Jefferies argued that he sees AMD's competitive position improving given upcoming "watershed" events. NEXT HORIZON EVENT: Yesterday, AMD and Amazon Web Services (AMZN) announced at Next Horizon the immediate availability of the first AMD EPYC processor-based instances on Amazon Elastic Compute Cloud. The new instances are available as variants of Amazon EC2's memory optimized and general purpose instance families. AMD-based M5 and R5 instances are available in six sizes with up to 96 vCPUs, up to 768 GB of memory. AMD-based T3 instances will be available in 7 sizes with up to 8 vCPUs and 32 GB of memory. The new instances can be purchased as On-Demand, Reserved, or Spot instances. AMD also announced the AMD Radeon Instinct MI60 and MI50 accelerators, the world's first 7nm datacenter GPUs, that it said are "designed to deliver the compute performance required for next-generation deep learning, HPC, cloud computing and rendering applications." The company added that "researchers, scientists and developers will use AMD Radeon Instinct accelerators to solve tough and interesting challenges, including large-scale simulations, climate change, computational biology, disease prevention and more." COMPETITIVE POSITION IMPROVING: Following the company's datacenter day, Jefferies analyst Mark Lipacis told investors that he believes three "watershed" events over the next 6 months will materially improve AMD's competitive position in datacenter and position it to increase its share to 30% from 3% in the $29B datacenter market over the next 3-to-5 years. Specifically, he pointed toward the world's first 7nm GPU available in the fourth quarter, the world's first 7nm Server MPU available in the second quarter, and AWS deploying AMD Server MPU instances at a 10% discount to Intel (INTC) now. The analyst reiterated a Buy rating and $30 price target on AMD shares. Meanwhile, Craig-Hallum analyst Christian Schwab raised his price target for AMD to $27 from $21 and reiterated a Buy rating on the shares. Exiting AMD's Next Horizon event, the analyst has increased confidence in the company's product portfolio strength, which he expects to drive sustainable revenue growth and continued market share gains. GROWTH LIKELY TO ACCELERATE IN 2020: In a research of his own, KeyBanc's Twigg noted that AMD outlined its datacenter product roadmap at Next Horizon event and said he believes its share-gain and TAM expansion opportunities are "real and compelling." New product traction will likely take time, potentially setting up a very strong 2020, he contended. However, Twigg sees moderate near-term risk as hyperscale demand is slowing and as AMD has relatively high valuation compared to peers, keeping expectations high. The analyst reiterated a Sector Weight rating on the shares. PRICE ACTION: In afternoon trading, shares of AMD have gained over 5% to $21.75.
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SEAS SIX | Hot Stocks12:38 EDT SeaWorld jumps 4% after Orlando Sentinel talks of reported Six Flags interest
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C | Hot Stocks12:37 EDT SEC fines Citibank more than $38M for mishandling ADRs - The Securities and Exchange Commission announced that Citibank N.A. has agreed to pay $38.7M to settle charges of improper handling of "pre-released" American Depositary Receipts. The SEC found that Citibank improperly provided ADRs to brokers in thousands of pre-release transactions when neither the broker nor its customers had the foreign shares needed to support those new ADRs. Such practices resulted in inflating the total number of a foreign issuer's tradeable securities, which resulted in abusive practices like inappropriate short selling and dividend arbitrage that should not have been occurring. This is the second action against a depositary bank and sixth action against a bank or broker resulting from the SEC's ongoing investigation into abusive ADR pre-release practices.
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BDX | Hot Stocks12:35 EDT BD announces clinical trial data for Lutonix IDE level 1 for BTK indication - BD announced the safety and efficacy data from the LUTONIX Drug-Coated Balloon IDE, level 1 clinical trial for a below-the-knee,BTK, indication. The clinical study is a prospective, global, multicenter, randomized, controlled trial comparing the LUTONIX 014 DCB to standard angioplasty for the treatment of narrowed or obstructed arteries below the knee. The study used both proportional/binary and Kaplan Meier analyses to assess safety and efficacy. The primary safety endpoint-freedom from composite all-cause death, above the ankle or major reintervention of the treated limb through 30 days-was met showing statistically significant safety equivalence between the LUTONIX 014 DCB and standard PTA catheter, in both the proportional/binary and Kaplan Meier analyses. "The six-month clinical data from the Lutonix BTK trial represent the beginning of a paradigm shift in the treatment of patients with critical limb ischemia," said Jihad Mustapha, MD, FACC, FSCAI, Advanced Cardiac and Vascular Amputation Centers, Grand Rapids, Mich. "The initial results are extremely encouraging and give new hope to patients with CLI." The primary efficacy endpoint was assessed using a composite measurement of limbs saved from amputation and the openness of arteries, known as primary patency. By proportional/binary analysis, at six months there was an improvement in primary efficacy of 10.2%. The more commonly used Kaplan Meier analysis of the primary efficacy endpoint demonstrated a significant difference of 14.6%. Additional analyses are planned for 12-, 24- and 36-month follow-ups.
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DF | Hot Stocks12:01 EDT Dean Foods falls -26.2% - Dean Foods is down -26.2%, or -$2.02 to $5.68.
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CNDT | Hot Stocks12:00 EDT Conduent falls -28.8% - Conduent is down -28.8%, or -$5.54 to $13.68.
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DPLO | Hot Stocks12:00 EDT Diplomat Pharmacy falls -32.8% - Diplomat Pharmacy is down -32.8%, or -$6.67 to $13.67.
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NBLX | Hot Stocks12:00 EDT Noble Midstream rises 19.5% - Noble Midstream is up 19.5%, or $6.95 to $42.55.
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TWLO | Hot Stocks12:00 EDT Twilio rises 33.5% - Twilio is up 33.5%, or $23.79 to $94.81.
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SEND | Hot Stocks12:00 EDT SendGrid rises 33.6% - SendGrid is up 33.6%, or $11.50 to $45.77.
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SOLO | Hot Stocks12:00 EDT Electrameccanica Vehicles Corporation trading resumes
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VJET | Hot Stocks11:58 EDT AWM Investment reports 11.7% passive stake in Voxeljet
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DVN | Hot Stocks11:57 EDT Devon Energy CEO: the company is taking bids for Central Basin, Rockies asstets - Comments provided during Q3 earnings conference call.
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WFC | Hot Stocks11:30 EDT Wells Fargo finds another 145 customers who lost homes after glitch - In a regulatory filing, Wells Fargo said "An internal review of the Company's use of a mortgage loan modification underwriting tool identified a calculation error regarding foreclosure attorneys' fees affecting certain accounts that were in the foreclosure process between April 13, 2010, and October 2, 2015, when the error was corrected. A subsequent expanded review identified related errors regarding the maximum allowable foreclosure attorneys' fees permitted for certain accounts that were in the foreclosure process between March 15, 2010, and April 30, 2018, when new controls were implemented. Similar to the initial calculation error, these errors caused an overstatement of the attorneys' fees that were included for purposes of determining whether a customer qualified for a mortgage loan modification or repayment plan pursuant to the requirements of government-sponsored enterprises, the FHA and the U.S. Department of Treasury's Home Affordable Modification Program. Customers were not actually charged the incorrect attorneys' fees. As a result of these errors, taken together and subject to final validation, approximately 870 customers were incorrectly denied a loan modification or were not offered a loan modification or repayment plan in cases where they otherwise would have qualified. In approximately 545 of these instances, after the loan modification was denied or the customer was deemed ineligible to be offered a loan modification or repayment plan, a foreclosure was completed. The Company has contacted a substantial majority of the approximately 870 affected customers to provide remediation and the option also to pursue no-cost mediation with an independent mediator. Attempts to contact the remaining affected customers are ongoing. Also, the Company's review of these matters is ongoing, including a review of its mortgage loan modification tools."
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DVN | Hot Stocks11:17 EDT Devon Energy raises FY18 Delaware Basin production growth estimates - Raises FY18 FY18 Delaware Basin exit rate growth to approximately 90 MBOED. The company is ramping up capital investment in 2019.
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DVN | Hot Stocks11:09 EDT Devon Energy sees FY17-FY20 U.S. oil production up 15%-17% CAGR - Sees FY17-FY20 total BOE production up 5%-7% CAGR. Sees FY17-FY20 cash flow growth greater than 20% CAGR.
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DVN | Hot Stocks11:07 EDT Devon Energy says U.S. oil production up 17% in FY18, exceeding 2018 plan - Sees FY18 total BOE production on track with 2018 plan at growth of 9% in the U.S. Guidance provided in slides presented during Q3 earnings conference call.
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AMZN | Hot Stocks10:46 EDT Amazon announces launch of Amazon Music for Mexico - Amazon Mexico announced the launch of Amazon Music, Amazon's music streaming service offering customers a variety of ways to listen to and discover music, from chart-topping releases by today's top artists including Natalia Lafourcade, Ariana Grande, Reik, Calvin Harris, J Balvin, and Shakira, as well as an immense selection of locally-curated playlists and stations, both completely ad-free and on-demand, and specially curated for music listeners in Mexico. With Amazon Music, streaming music is easier and more fun than ever before, with the added ability for listeners to use their voice to request music through using innovative voice features, powered by Amazon Alexa as it arrives for customers this month. Starting today, eligible customers who are not already Prime members can try Prime Music with a 30-day free trial of Amazon Prime. For even more music, eligible customers can also sign up for a free, three-month trial of Amazon Music Unlimited for a limited time before choosing from three plan options. Customers can sign up for the Amazon Music Unlimited Individual Plan at MXN$99/month, or MXN$990/year for Prime members only; the Family Plan, which allows up to six members of a household to share a subscription for just MXN$149/month, or MXN$1,490/year for Prime members only; or the exclusive Single Device Plan, offering full access to Amazon Music Unlimited at MXN$39/month on one Echo device.
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ECA | Hot Stocks10:42 EDT Point72 Asset Management reports 5% passive stake in Encana - Point72 previously reported a 1.7% stake in Encana as of June 30, according to Bloomberg data.
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WES... | Hot Stocks10:42 EDT Analysts say buy Western Gas, Noble Energy after Colorado Prop 112 fails - Colorado's Proposition 112, the initiative that would dramatically increase oil and gas drilling setbacks from homes, businesses and waterways, was defeated Tuesday night following a contentious campaign in which the industry spent tens of millions of dollars to derail the measure. Following the election outcome, Bank of America Merrill Lynch analyst Dennis Coleman upgraded Western Gas Partners (WES) to Buy from Neutral, while his peer at Raymond James upgraded Noble Energy (NBL) to Outperform, saying that the rejection by Colorado voters of Proposition 112 removes an overhang. PROPOSITION 112 REJECTED: Colorado voters rejected Proposition 112 in the state's first referendum on oil and gas setbacks. Had Proposition 112 passed, Colorado would have voted in the country's largest mandatory buffer between new wells and homes, schools, waterways and other areas deemed "vulnerable": 2,500 feet, five times the existing standard of 500 feet. The measure would not have applied to Colorado's nearly 50,000 existing wells but would have made it much harder to drill new wells on nonfederal land. Western Gas Partners, Noble Midstream (NBLX), NGL Energy Partners (NGL), Summit Midstream (SMLP), DCP Midstream (DCP) and SemGroup (SEMG) have the highest exposure to Colorado, Wells Fargo analyst Michael Blum previously told investors in a research note. BUY WESTERN GAS, NOBLE ENERGY: This morning, Bank of America Merrill Lynch's Coleman upgraded Western Gas to Buy from Neutral and raised his price target on the stock to $51 from $48 after Colorado voters rejected Proposition 112, the ballot initiative that would have increased the oil and gas development setback from buildings and waterways to 2,500ft from 500ft. Coleman also added that Western Gas has strong sponsor support from Anadarko Petroleum (APC), improved growth outlook, and its well-integrated asset network warrant a premium. Alongside Western Gas, the analyst believes DCP Midstream, Noble Midstream, and NGL Energy Partners have the most exposure to Proposition 112 issue and expects these names to react positively after the news. Nonetheless, he noted that the issues brought forward by Prop 112 proponents could be a recurring overhang in Colorado, and a similar ballot measure may manifest in the next general election in 2020. Meanwhile, his peer at Raymond James also upgraded Noble Energy to Outperform from Market Perform with a $40 price target on the shares. Analyst John Freeman said the rejection by Colorado voters of Proposition 112 removes an overhang and the risk/reward in shares is skewed "very favorably" following meaningful underperformance. Additionally, Freeman noted that Noble Energy reported "robust" third quarter results and is well positioned for 2020 when Permian takeaway constraints are mostly alleviated and its "massive" Leviathan natural-gas project ramps up to full production in the Mediterranean, which should result in substantial free cash flow generation. PRICE ACTION: In morning trading, shares of Western Gas have jumped almost 13% to $46.30, while Noble Energy's stock has gained just over 6% to $28.67. Also higher are shares of Noble Midstream, NGL Energy Partners, Summit Midstream, DCP Midstream and SemGroup.
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AMZN | Hot Stocks10:37 EDT Amazon says Alexa, Amazon Echo now available in Mexico - Amazon announced Alexa and Echo are now available in Mexico. "Alexa has learned to speak and understand Spanish tailored for Mexico, and developers around the world are creating skills and devices with Alexa built-in for Mexican customers," the company said. Echo, Echo Dot, Echo Plus, Echo Spot, and the Amazon Smart Plug are available for pre-order in Mexico today and will begin shipping next week.
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GRPN | Hot Stocks10:29 EDT Groupon says ultimately looking to get rid of voucher
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GRPN | Hot Stocks10:28 EDT Groupon says experimenting with card-linked products
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SONC | Hot Stocks10:16 EDT Sonic says Claudia San Pedro to succeed Cliff Hudson as chairman and CEO - SONIC Corp. announced that Chairman and CEO Cliff Hudson will retire and that President Claudia San Pedro will lead the company, effective as of the closing of SONIC's proposed acquisition by Inspire Brands, which is expected to occur in December, subject to shareholder approval. Hudson will assist with the transition, serving as Senior Advisor to SONIC until March 2019. Following completion of the transaction, San Pedro will report to Inspire Chief Executive Officer Paul Brown and will serve as part of the Inspire executive team.
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GRPN | Hot Stocks10:15 EDT Groupon says could increase marketing spending in Q4, beyond
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GRPN | Hot Stocks10:12 EDT Groupon sees FY18 free cash flow above 2017, but below prior $200M view - Says remains focused on four strategic initiatives: enhancing the customer experience, establishing Groupon as a true platform, continuing to unlock international potential and maintaining culture of operational efficiency. Says "not happy" with North America performance in Q3, but is "encouraged" by the momentum of its strategic initiatives. Says "actively disrupting" legacy voucher business. Says Local remains "vast" opportunity, but is "incredibly fragmented." Sees FY18 free cash flow significantly above 2017, but below prior view of $200M. Comments taken from the Q3 earnings conference call.
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CMTL | Hot Stocks10:05 EDT Comtech announces $7.1M order for City of Baltimore - Comtech Telecommunications Corp. announced that during its first quarter of fiscal 2019, its Command & Control Technologies group, which is part of Comtech's Government Solutions segment, received an order totaling $7.1M to deliver advanced communication solutions for the City of Baltimore. Comtech noted it has been supporting the City of Baltimore under this Contract since 2015.
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VRTU | Hot Stocks10:04 EDT Virtusa partners with IBRI to accelerate therapy research - Virtusa Corporation announced its collaboration with the Indiana Biosciences Research Institute to accelerate Life Sciences research and development. This partnership will leverage Virtusa's vLife open innovation platform to enable organizations to work in a connected ecosystem that allows them to access, validate, and adopt other firms' technologies and enhance the entire research and development process. Virtusa's vLife open innovation platform is designed to engage teams to innovate and operationalize solutions faster. To enable a collaborative environment it uses open APIs that allow for the secure and speedy flow of information. As part of this vLIfe implementation, Virtusa and the IBRI will perform comparative analyses of synthetic data with real-world data of diabetes patients to better understand how synthetic data, which is not constrained by HIPAA regulations, can accelerate research. These analyses will measure the viability of synthetic data as an alternative to real-world datasets to drive research with the IBRI's partners.
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CPB | Hot Stocks10:03 EDT Third Point details Campbell Soup's 'unacceptable' compensation policies - Third Point LLC, a holder of approximately 7% of the outstanding common shares of Campbell Soup Company, has mailed a detailed letter to shareholders regarding Campbell's record of "wantonly spending shareholder money for poor CEO performance that is not linked to positive performance." The letter says, in part: "The Incumbent Board boasts that it has created an executive compensation program that is aligned to performance. One of a board's most important responsibilities is to have a program that sets compensation fairly and thoughtfully, while carefully stewarding shareholder capital. We were skeptical when we saw the results of this Board's "processes" with ex-CEO Morrison. Considering how wastefully the Incumbent Board uses shareholder money in areas like protecting their own secrets rather than being transparent with shareholders,1 we decided we should investigate how they pay their CEOs. The compensation program has failed. We believe it failed because the Incumbent Board was either asleep at the wheel or made affirmatively horrendous decisions to continue awarding million-dollar payments to executives who were not driving long-term value. Once again, this Board is giving away your money without any connection to performance. Mr. McLoughlin is being paid a base salary of more than $1 million and received a shockingly high $3 million restricted stock grant, which vests in full when a successor CEO is appointed (or, if earlier, 12 months from the date of the grant). What has Mr. McLoughlin done to show shareholders he deserves this compensation package? It cannot be that the Incumbent Board believed Mr. McLoughlin would instill a sense of confidence in the market; the stock lost $1.5 billion in value on the day he was appointed. The Incumbent Board's failure to plan for Ms. Morrison's successor has resulted in a windfall for one of their own. Shareholders deserve better. Third Point is confident we can identify a world-class CEO who will modernize products, improve employee morale, and help shareholders. We have done this before, serving on the compensation committees of other public companies and looking out for shareholder interests first. Third Point is determined to bring a culture of accountability, with greater board engagement and fair pay for performance. No one minds paying fairly for a CEO who benefits everyone but paying tens of millions of dollars to a CEO who benefitted almost no one is just insulting. The Independent Slate is running to replace the Incumbent Board because we believe that with a flat stock price over 20 years, Campbell has been focused on serving someone other than its public shareholders and employees."
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JWN | Hot Stocks10:03 EDT Nordstrom partners with NuORDER for wholesale buying platform - NuORDER announced Nordstrom has chosen NuORDER to utilize as its platform for wholesale buying and assortment selection for its supplier brands. NuORDER's cloud-based wholesale lifecycle tool will streamline Nordstrom's buying process and help the retailer evolve its merchandising approach. Through this partnership, NuORDER will provide Nordstrom and their supplier brands with a platform that will enable collaboration, assortment selection and enhanced visibility into product. The fashion retailer and its brand partners can upload product catalogs, take notes and capture purchase intent. Additionally, NuORDER will offer Nordstrom's buyers a complete view of the merchandise they plan to buy for the upcoming season, which will allow them to identify gaps or opportunities across their available spend, helping the company curate a wide range of products for its customers.
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MED | Hot Stocks10:00 EDT Medifast falls -20.0% - Medifast is down -20.0%, or -$42.88 to $172.00.
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BWXT | Hot Stocks10:00 EDT BWX Technologies falls -21.3% - BWX Technologies is down -21.3%, or -$12.91 to $47.76.
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DPLO | Hot Stocks10:00 EDT Diplomat Pharmacy falls -29.8% - Diplomat Pharmacy is down -29.8%, or -$6.07 to $14.27.
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NBLX | Hot Stocks10:00 EDT Noble Midstream rises 17.2% - Noble Midstream is up 17.2%, or $6.13 to $41.73.
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SEND | Hot Stocks10:00 EDT SendGrid rises 21.0% - SendGrid is up 21.0%, or $7.20 to $41.47.
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TWLO | Hot Stocks10:00 EDT Twilio rises 21.1% - Twilio is up 21.1%, or $14.95 to $85.97.
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HUM | Hot Stocks09:50 EDT Humana says indicators suggest company is taking market share
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KORS | Hot Stocks09:47 EDT Michael Kors falls -15.2% - Michael Kors is down -15.2%, or -$8.74 to $48.71.
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COTY | Hot Stocks09:47 EDT Coty falls -15.4% - Coty is down -15.4%, or -$1.72 to $9.46.
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DPLO | Hot Stocks09:47 EDT Diplomat Pharmacy falls -25.3% - Diplomat Pharmacy is down -25.3%, or -$5.15 to $15.19.
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TWLO | Hot Stocks09:47 EDT Twilio rises 15.5% - Twilio is up 15.5%, or $10.98 to $82.00.
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BCEI | Hot Stocks09:47 EDT Bonanza Creek rises 15.2% - Bonanza Creek is up 15.2%, or $3.92 to $29.72.
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NBLX | Hot Stocks09:47 EDT Noble Midstream rises 22.7% - Noble Midstream is up 22.7%, or $8.09 to $43.69.
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HUM | Hot Stocks09:26 EDT Humana says expecting 'strong' Medicare Advantage growth - Says retail segment continues to outperform. Says Kindred at Home performing in-line with expectations. Says has "significant tailwinds" heading into 2019. Says sees 2019 Medicare Advantage growth of 250,000-300,000 members. Says sees "meaningful" EPS growth in 2019. Comments from Q3 earnings conference call.
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MMC | Hot Stocks09:21 EDT Marsh & McLennan receives JLT holder approval - Marsh & McLennan announced that the shareholders of Jardine Lloyd Thompson Group plc, or JLT, overwhelmingly approved Marsh & McLennan's agreement to acquire JLT. Of those shares voted, 99.9% voted in favor of the transaction.
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AKER | Hot Stocks09:20 EDT Akers Biosciences announces 1-8 reverse stock split - Akers Biosciences announced that it is effecting a reverse stock split of its issued and outstanding common stock of no par value at a ratio of one share of common stock for every eight shares of common stock on November 8. As a result of the reverse stock split, there will be approximately 12,457,731 shares of common stock outstanding. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the company's equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. Fractional shares will not be issued as a result of the reverse stock split; instead, the board determined to effect an issuance of shares to holders that would otherwise be entitled to a fractional share such that any fractional shares will be rounded up to the nearest whole number.
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AKER | Hot Stocks09:18 EDT Akers Biosciences to evaluate strategic alternatives - Akers Biosciences announced that the board has initiated a process to evaluate strategic alternatives to maximize shareholder value. This process will consider a range of potential strategic alternatives including, but not limited to, business combinations, while simultaneously supporting the company's management and employees in the execution of the company's current business activities. The company does not plan to disclose or comment on developments regarding the strategic review process until it is complete or further disclosure is deemed appropriate. There can be no assurance that the exploration of strategic alternatives will result in any transaction or other alternative.
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ETSY... | Hot Stocks09:17 EDT Fly Intel: Pre-market Movers - UP AFTER EARNINGS: Etsy (ETSY), up 12%... Twilio (TWLO), up 16%... Office Depot (ODP), up 10%. ALSO HIGHER: Foamix (FOMX), up 15% after announcing topline results from its Phase 3 program evaluating FMX103 1.5% minocycline foam, in the treatment of moderate-to-severe papulopustular rosacea... ITG (ITG), up 8% after announcing that it has reached a definitive agreement for Virtu Financial (VIRT) to acquire all outstanding shares of the company's common stock for $30.30 per share in cash. DOWN AFTER EARNINGS: Zillow (ZG), down 19%... Medifast (MED), down 19%... Primo Water (PRMW), down 21%... Michael Kors (KORS), down 15%... Accelerate Diagnostics (AXDX), down 19%.
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TGEN | Hot Stocks09:13 EDT Tecogen sell replacement chillers to University of Connecticut - Tecogen has sold four, 400-ton Tecochill chillers to the University of Connecticut for installation in the central utility plant located on its main campus in Storrs, Connecticut. The chillers will provide air conditioning for much of the campus and replace chillers supplied by Tecogen over 20 years ago, replacing them with a new Tecochill system that operates at a higher efficiency and with improved environmental benefits, including the company's patented emissions aftertreatment system, Ultera, and uses a modern, ozone-friendly refrigerant. The University will receive state incentives available to engine chillers that curb peak electrical demand in this highly congested region. The incentive program is specific for natural gas engine driven chillers because of their unique characteristic of being both highly efficient while requiring minimal electricity. The systems are expected to be installed in time for the summer cooling season at the central utility plant and will be serviced by Tecogen's Connecticut Service Center which has served a large population of Tecogen air-conditioning and combined heat and power products for approximately 30 years, including systems sold by Clover Corporation.
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KTWO SYK | Hot Stocks09:10 EDT K2M Group stockholders approve acquisition by Stryker - Stockholders of K2M Group approved the adoption of the agreement and plan of merger by and among Stryker, Austin Merger Sub and K2M. Subject to the terms and conditions of the merger agreement, Merger Sub, a wholly-owned subsidiary of Stryker, will be merged with and into K2M with K2M surviving the merger as a direct or indirect wholly-owned subsidiary of Stryker. The parties are actively working towards closing, and K2M continues to anticipate that the merger will close in Q4. In addition to K2M stockholder approval, the completion of the merger is subject to other customary closing conditions. Upon the closing of the merger, the company's stockholders will have the right to receive $27.50 in cash, without interest and less any applicable withholding taxes, for each share of common stock of K2M that they own immediately prior to the effective time of the merger.
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PHX | Hot Stocks09:09 EDT Panhandle Oil & Gas reports FY18 estimated total proved reserve volumes up 3% - Panhandle Oil & Gas announced estimated total proved reserve volumes for its fiscal year ended Sept. 30 up 3% to 173.6 Bcfe from 168.6 Bcfe reported for Sept. 30, 2017. Panhandle's total estimated proved reserves at Sept. 30, 2018, are approximately 69% natural gas, 21% oil and 10% NGL. At Sept. 30, 2018, approximately 63% of total proved reserves, or 109.7 Bcfe, are categorized as proved developed as compared to 66%, or 111.7 Bcfe, at Sept. 30, 2017. Proved undeveloped reserves, or PUD, comprised 37% of total proved reserves, or 63.9 Bcfe, at Sept. 30, 2018, as compared to 34%, or 56.9 Bcfe, at Sept. 30, 2017.
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DNB | Hot Stocks09:08 EDT Dun & Bradstreet holders approve merger transaction with investor group - Dun & Bradstreet announced that, based on a preliminary count of the votes cast at the company's special meeting of stockholders held today, Dun & Bradstreet stockholders voted to approve the proposed merger transaction with an investor group led by affiliates of CC Capital Partners LLC, Bilcar, LLC, Cannae Holdings, Inc. and funds affiliated with Thomas H. Lee Partners, L.P. Based on the preliminary count, approximately 26.7 million shares were voted in favor of the merger proposal. The favorable vote represents 71.9% of the total outstanding and 99.0% of the total shares voted. As of September 28, 2018, the record date for the special meeting, there were approximately 37.1 million shares of Dun & Bradstreet common stock outstanding. The proposed merger transaction remains subject to approval by the Russian Federal Antimonopoly Service and the UK Financial Conduct Authority and certain other customary closing conditions, and is expected to close no later than during the first quarter of 2019.
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KORS | Hot Stocks09:07 EDT Michael Kors sees Versace deal closing in fiscal Q4 - Sees accessories SSS down in low single digits for the rest of the year. Sees FY19 Michael Kors operating margin in line with FY18. Sees FY CapEx approximately $225M. Says "encouraged" by Q2 results, sees "strong" 2H. Comments taken from the Q2 earnings conference call. Shares of Michael Kors are down nearly 14% ahead of the market open.
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YECO | Hot Stocks09:07 EDT Yulong Eco-Materials to appeal Nasdaq determination letter - Yulong Eco-Materials announced that it received a determination letter from Nasdaq pursuant to a business combination resulting in a change of control pursuant to Listing Rule 5110. Accordingly, the post-transaction entity was required to satisfy all of Nasdaq's initial listing criteria and to complete Nasdaq's initial listing process, including the payment of all applicable fees, prior to consummation of the transaction. The company must file an appeal and therefore pay a $10,000 hearing fee to Nasdaq before November 12 or it will be delisted from Nasdaq. The company confirms that it will file an appeal and pay the $10,000 hearing fee before November 12, while its new listing application for change of control is being processed.
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GOGO ERJ | Hot Stocks09:06 EDT Gogo's Avance L3 selected by Airshare for its fleet of Embraer Phenom 100s - Gogo's (GOGO) Avance L3 connectivity solution for light jets has been selected by Airshare for installation across its entire fleet of Embraer (ERJ) Phenom 100 aircraft. Airshare operates 11 Phenom 100 aircraft in its fleet.
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OTEX GOOG | Hot Stocks09:04 EDT OpenText selects Google Cloud as first cloud provider for its EIM solutions - OpenText (OTEX) announced a new partnership with Google (GOOG) Cloud to bring key OpenText EIM solutions to Google Cloud Platform. This work will include a containerized application architecture for flexible cloud or hybrid deployment models. Deploying OpenText solutions on Google Cloud Platform will allow customers to autoscale their deployments as their businesses demand.
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CRL | Hot Stocks09:04 EDT Charles River says 'on track' to exceed original 2018 financial guidance - Says intends to continue to enhance scientific capabilities through M&A and internal development, expand capacity and staff, and invest in technology to provide critical data for both internal and client use. Anticipates 3Q18 VC investment gains will be offset by 4Q18 VC investment losses of approx. 10c. Says now expects VC investment gains of 24c for 2018. Says will eliminate the performance of VC investments from guidance, beginning in 2019. Says 2018 non-GAAP unallocated corporate costs now expected to be slightly above 6.5% of total revenue. Expects 2018 GAAP unallocated corporate costs expected to be approx. 7.5% of total revenue. Says 2018 net interest expense outlook narrowed to a range of $59-$60M and $64-65M. Says 2018 non-GAAP tax rate now expected to be in a range of 22%-23%. Says GAAP tax rate now expected to be 20%-21%. Says 2018 FCF guidance increased by approx. $30M reflecting strong 3Q18 cash flow generation. Says 2018 capex guidance remains unchanged at approx. $120M. Says strategic acquisitions remain top priority for capital allocation, followed by debt repayment. Says absent any acquisitions, will continue to repay debt. Says Foreign exchange is expected to be slightly less favorable as a result of the strengthening U.S. dollar. Says now expects an approx. 1.5% FX benefit in 2018 vs. prior outlook of approx. 2% benefit. Says translates into slight incremental headwind to full-year EPS, compared to prior outlook in August. Says expects Outlook for 2018 segment revenue growth will remain the same on an organic basis. Expects RMS and DSA will be at the higher end of the organic growth ranges. Expects Manufacturing to continue to grow at low-double-digit organic rate.
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SOLO | Hot Stocks09:01 EDT Electrameccanica Vehicles Corporation trading halted, news pending
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DSX | Hot Stocks08:58 EDT Diana Shipping announces sale of Panamax dry bulk vessel for $7.35M - Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel "Triton", with delivery to the buyer latest by January 7, 2019, for a sale price of $7.35M before commissions. Upon completion of the aforementioned sale, Diana Shipping Inc.'s fleet will consist of 49 dry bulk vessels. As of today, the combined carrying capacity of the Company's fleet, including the m/v Triton, is approximately 5.8 million dwt with a weighted average age of 9.21 years. A
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CRL | Hot Stocks08:53 EDT Charles River sees 'favorable market conditions' continuing through year-end - Expects DSA organic revenue growth rate will be at the upper end of the high-single-digit range for 2018. Says capacity remained well utilized and study mix continued to improve. Says Distributed Bio partnership gives access to Distributed Bio's early-stage therapeutic antibody discovery and optimization platforms. Says large molecule discovery represents a significant growth opportunity for Discovery business. Says demand for comprehensive suite of large and small molecule bioanalytical services continues to increase. Says expanded services at South San Francisco biohub site. Says continuing to add capacity to new Shanghai facility. Says expects NIAID contract to generate annual revenue of approx. $18M. Says contract will only provide a small benefit to the RMS revenue growth rate this year. Expects to enhance the RMS growth rate by greater than300 bps over the first year until contract anniversaries in September 2019. Says beginning in 4Q18, NIAID contract will pressure RMS operating margin by approx. 50 bps, however company is continuing to focus on driving operating efficiency throughout the RMS business. Says optimistic that ability to provide a total microbial testing solution will drive goal to continue to deliver low-double-digit organic revenue growth. Says increasing number of biologic drugs in development represents a significant market opportunity for the Biologics business. Says believes the Biologics market opportunity is expanding at a low-double-digit rate annually. Says continuing to significantly invest in additional capacity for this business. Says continuing to make progress with plans to open a new Pennsylvania facility, as well as smaller capacity expansions globally. Says expects Manufacturing operating margin will be slightly below long-term target this year due to the Biologics capacity expansion and the slower start to the year. Says firmly believes that the operating margin will expand to mid-30% target once the Biologics expansion is complete. Comments taken from Q3 earnings conference call.
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ALLE AMZN | Hot Stocks08:47 EDT Schlage partners with Amazon.com to enhance smart home living - Schlage, a brand of Allegion (ALLE), has joined forces with Amazon (AMZN) to deliver integrated smart home solutions to homeowners with convenience and ease. In parallel with this announcement, Schlage has introduced the Schlage Connect Smart Deadbolt, Zigbee certified with Amazon Key compatibility. This new lock is available now as part of the Amazon Key Smart Lock Kit.
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AMPE | Hot Stocks08:41 EDT Ampio updates regulatory and clinical status of Ampion BLA - Ampio provided an update of the regulatory and clinical path activities required to file a Biologics License Application for Ampion for the treatment of severe osteoarthritis-of-the-knee. Ampio designed what it thought would be a final pivotal clinical trial of Ampion. However, the Office of Tissue and Advanced Therapies advised the company to execute an additional clinical trial designed under a Special Protocol Assessment. The FDA has now accepted a Type C meeting proposal from Ampio that could lead to the resolution of the dispute regarding the acceptability of AP-003-C as the 2nd of the two required Pivotal trials for the filing of a BLA and scheduled the meeting before the end of November. The primary objective of the Open-Label Extension study, which followed the completion of the AP-003-C study, was to investigate the safety and tolerability of patients with severe osteoarthritis of the knee receiving up to 5 injections of Ampion administered every 12 weeks, but efficacy was tracked and reported. No serious adverse events were reported. Three of the 41 AEs were possibly related to the procedure, not Ampion, and all the remaining 38 AEs were unrelated. The OLE study of the AP-003-C pivotal trial shows that each subsequent injection of Ampion provided a sustained, significant reduction in pain, improvement in function and 70% responder rates from patients with severe OA disease. Ampio believes that Ampion will be identified as a "reference product" upon FDA approval of their BLA. Reference products are granted twelve years of exclusivity.
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ONTX NVS | Hot Stocks08:39 EDT Onconova appoints Richard Woodman CMO - Onconova (ONTX) announced the appointment of Richard Woodman as CMO and senior VP of research & development. Woodman will report to Steve Fruchtman, president and former CMO of the company. Woodman, served most recently as senior VP and head of U.S. oncology clinical development and medical affairs for Novartis (NVS). In his role, Ric provided strategic medical and scientific leadership for both marketed and development-stage compounds.
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NWL | Hot Stocks08:36 EDT Newell Brands to sell Pure Fishing, Jostens for proceeds of approx. $2.5B - Newell Brandsannounced that it has signed definitive agreements to sell two businesses, Pure Fishing and Jostens. Combined, these transactions are expected to contribute approximately $2.5B of after-tax proceeds, subject to customary working capital and other transaction adjustments, which will be deployed toward deleveraging and share repurchase. The company has signed a definitive agreement to sell Pure Fishing to Sycamore Partners, a leading private equity firm specializing in consumer, distribution and retail-related investments. Pure Fishing is a leading global provider of fishing tackle, lures, rods and reels. Gross proceeds from the Pure Fishing divestiture are anticipated to be $1.3B, subject to customary working capital and transaction adjustments. In 2017 net sales for Pure Fishing were approximately $556M. Newell Brands also signed a definitive agreement to sell Jostens to Platinum Equity, a leading private investment firm. Jostens, based in Minneapolis, is a trusted partner in the academic and achievement channel, providing products, programs and services that help its customers celebrate moments that matter. The company's products comprise yearbooks, publications, jewelry and consumer goods that serve the K-12 educational, college and professional sports segments. Gross proceeds from the Jostens transaction are expected to be approximately $1.3B, subject to customary working capital and transaction adjustments. Jostens' 2017 net sales were $768M. Both transactions are expected to close in the fourth quarter, subject to customary closing conditions, including regulatory approval. J.P. Morgan Securities LLC acted as financial advisor to Newell Brands on the Pure Fishing transaction, while Jefferies LLC acted as financial advisor to the company on the Jostens deal.
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MYOV... | Hot Stocks08:36 EDT Myovant Sciences expands Executive Committee and Board of Directors - Myovant Sciences (MYV) announced that Kim Sablich, formerly VP of Primary Care Marketing in the United States for GlaxoSmithKline (GSK), will join Myovant Sciences as Chief Commercial Officer, and Jeff Nornhold, formerly Senior VP of Technical Operations for Amneal Pharmaceuticals (AMRX), has joined Myovant as Senior VP of Pharmaceutical Operations & Development. In addition, Myovant has appointed Myrtle Potter, Mark Guinan, and Frank Torti, M.D., to Myovant's Board of Directors, and Potter has been appointed Chairman of the Board.
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AIPT | Hot Stocks08:34 EDT Precision Therapeutics secures rights to novel technology from GLG Pharma - Precision Therapeutics said it has acquired rights to technology for the proprietary culture media to grow ovarian cancer cell types in the laboratory for research and testing. Precision's joint venture partner, GLG Pharma LLC, has agreed to terms on a non-exclusive license to this technology from a research institution. TumorGenesis, a wholly owned subsidiary of Precision, has developed a discovery kit using this technology for screening of these ovarian cancer cell types. This effort is part of the partnership of TumorGenesis and GLG to advance ovarian cell capture, culture and chemistry. 14 of the 24 identified ovarian cancer cell types represent nearly 90% of all ovarian cancers, TumorGenesis' first drug discovery target. The development of the kit is the first milestone in the company's quest to grow human tumors outside the body. The next three milestones include identifying the peptides and structure needed to grow a tumor, selecting the one that works the best, and then growing a tumor exogenously.
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GWRS | Hot Stocks08:34 EDT Global Water Resources appoints Ron Fleming as chairman, succeeding Trevor Hill - Global Water Resources has appointed Ron L. Fleming, the company's president and CEO, as the new chairman of its board of directors. Fleming succeeds Trevor Hill who is retiring from the board, effective December 31, 2018. Hill has served as a director since he co-founded Global Water in 2003, and as chairman since 2013. David Tedesco, a member of the board since 2012 and current chair of the compensation committee, was also appointed lead independent director.
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MDXG | Hot Stocks08:32 EDT MiMedx adopts limited duration shareholder rights plan after Nasdaq delisting - MiMedx has authorized the adoption of a limited duration shareholder rights plan following notification indicating that Nasdaq will suspend trading in the company's stock at the open of business on November 8. The Rights Plan was adopted by the board to reduce the likelihood that any person or group gains control of MiMedx through open market accumulation or other tactics without appropriately compensating all shareholders. The company will issue, by means of a dividend, one preferred share purchase right for each outstanding share of the company's common stock to shareholders of record on the close of business on November 19. Initially, these rights will not be exercisable and will trade with, and be represented by, the shares of the company's common stock. The rights would become exercisable only if a person, group or persons acting in concert acquires beneficial ownership of 10% or more of MiMedx's common stock in a transaction not approved by the MiMedx Board. In that situation, each holder of a right will have the right to purchase additional shares of MiMedx common stock at a 50% discount. The rights will expire at the close of business on November 6, 2019. The Board intends to terminate the Rights Plan before that date if the Board determines that there is no longer a threat to shareholder value.
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RILY CALL | Hot Stocks08:31 EDT B. Riley Financial receives regulatory approval for magicJack acquisition - B. Riley Financial (RILY) and magicJack (CALL) announced that they have received regulatory approval from the U.S. Federal Communications Commission related to B. Riley's pending acquisition of magicJack. The parties have agreed to a scheduled closing date of November 14. Upon closing of the transaction, magicJack will be managed by B. Riley's Principal Investments subsidiary which currently owns and operates United Online, a provider of value-priced Internet access services through the NetZero and Juno brands.
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MNGA | Hot Stocks08:29 EDT MagneGas receives extension to regain compliance with Nasdaq - MagneGas announced that the Nasdaq staff has granted the company's request for an additional 180-day period, or until May 6, 2019, to regain compliance with the minimum $1.00 bid price per share requirement.
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THRM PCRFY | Hot Stocks08:28 EDT Gentherm names Mark Potesta as SVP, Chief Technology Officer - Gentherm (THRM) announced that Mark A. Potesta will join the company's leadership team as Senior Vice President and Chief Technology Officer on November 12, 2018. In this role, Potesta will lead Gentherm's technology strategy to deliver unique and innovative thermal solutions across a broad range of applications in both automotive and medical markets. He will also provide functional leadership for the Company's electronics, Battery Thermal Management, and advanced engineering teams. Potesta will report to Gentherm's President and CEO, Phil Eyler. Potesta comes to Gentherm from Panasonic Automotive Systems (PCRFY) where he was the Executive Vice President of Engineering and CTO.
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KTOS | Hot Stocks08:27 EDT Kratos Defense receives contract from Swedish FMV for drone systems - Kratos Defense announced that it has received a sole source, single award contract from Swedish Defense Materiel Administration, or FMV, for Kratos' MQM-178 Firejet aerial target aircraft and associated ground support equipment, spares, payloads, components, expendables, and support services. The first order under this new 3-year Indefinite Delivery Indefinite Quantity, or IDIQ, contract award is expected in the next 60 days. Additionally, there are two 3-year exercisable option periods for a total potential contract performance term of 9 years. Annual buys are anticipated for Firejet Target aircraft plus associated products and services; making this the second international, sole-source, multi-year contract received in recent months for the Firejet system. Kratos is a leading provider of high performance, jet powered unmanned aerial drone systems for tactical and target threat representation purposes. Work under this contract will be performed at secure Kratos facilities, and customer locations.
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MDXG | Hot Stocks08:22 EDT MiMedx delisted fom Nasdaq, continues to trade on OTC - MiMedx has received notification from Nasdaq indicating that, as a result of the interim progress report submitted by the company on October 31, Nasdaq will suspend trading in the company's stock effective at the open of business on November 8. The company does not intend to appeal the delisting determination. The Audit Committee is working diligently with its advisors to complete the investigation expeditiously, and the company is also working to prepare its financial statements for audit and regain compliance with its SEC reporting obligations and Nasdaq listing rules as soon as practicable. Following the Nasdaq delisting, shares of the company's common stock will continue to trade publicly on the "over the counter" market operated by the OTC Markets Group. The company's trading symbol will remain MDXG. MiMedx does not expect the transition to the OTC Market to affect MiMedx's business operations. The company remains focused on executing its strategy to drive long-term business success and value creation.
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KORS | Hot Stocks08:17 EDT Michael Kors still sees opportunity to grow revenues to $8B in long-term - In presentation slides ahead of its quarterly earnings call, Michael Kors reiterated that it sees an opportunity to grow Versace to $2B in sales and increase the brand's global retail footprint to 300 stores from 200. The company also backed its $1B revenue goal for Jimmy Choo, and plans to grow accessories to 50% of revenues. The company also has a $5B revenue goal for the Michael Kors brand, and looks to grow the Asia business to $1B and accelerate the menswear business.
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PEGI | Hot Stocks08:13 EDT Pattern Energy to sell K2 wind facility for $166M - Pattern Energy has entered into an agreement for the sale of the company's 90 MW minority owned interest in the K2 Wind power facility in Ontario for a purchase price of C$216.0M or $166.0M, to a consortium of investors led by Axium Infrastructure. Sale of the interest allows the company to acquire or invest in more accretive assets. The company expects to record a pretax gain of $65.0M-$69.0M gain on the sale. Pattern Energy is also entitled to receive the cash flows from the facility through the end of calendar 2018.
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TLRY | Hot Stocks08:13 EDT IntelGenx forms agreement with Tilray on cannabis-infused VersaFilm products - IntelGenx announced the execution of a definitive license, development and supply agreement with Tilray. Pursuant to the Agreement, the two companies will co-develop and commercialize oral film products infused with adult-use and medical cannabis, or cannabis-infused VersaFilm, in anticipation of amended cannabis regulations that would allow adult-use consumers to purchase edible products in Canada. In connection with the Agreement, the parties have also executed a subscription agreement pursuant to which Tilray will make a strategic investment in IntelGenx by way of a non-brokered private placement. Pursuant to the Private Placement, Tilray will purchase 1,428,571 common shares of IntelGenx at a price of US$0.70 per share for gross proceeds to IntelGenx of US$1 million. The price of US$0.70 per share, rather than the US$0.80 per share price which had been proposed in the non-binding letter of intent between the parties and announced on September 20, 2018, represents the price per unit paid by investors under IntelGenx's recent public offering. IntelGenx intends to use the proceeds from the Private Placement for cannabis-infused VersaFilm product development in connection with the Agreement. The Private Placement is expected to close on or about November 9, 2018, subject to approval by the TSX Venture Exchange and satisfaction of customary closing conditions.
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IDXG | Hot Stocks08:11 EDT Interpace Diagnostics announces new coverage by BCBS for thyroid testing - Interpace Diagnostics Group announced that the Blue Cross Blue Shield Federal Employee Health Benefit Program has extended coverage of ThyGeNEXT and ThyraMIR to its 5.3 million covered lives including federal employees, retirees and their families. The FEHBP relies on consumer choices among competing private plans to determine costs, premiums, benefits, and service and currently has a 66% federal employee and retiree plan participation rate.
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KPTI | Hot Stocks08:10 EDT Karyopharm's Selinexor receives FDA fast track designation - Karyopharm Therapeutics announced that the U.S. Food and Drug Administration has granted Fast Track designation to selinexor, the company's first-in-class, oral SINE compound for the treatment of patients with diffuse large B-cell lymphoma who have received at least two prior therapies and are not eligible for high dose chemotherapy with stem cell rescue or CAR-T therapy. Selinexor is currently being studied in the ongoing Phase 2b SADAL study in patients with relapsed or refractory DLBCL who are not eligible for stem cell transplantation for which top-line results will be presented at the upcoming American Society of Hematology 2018 Annual Meeting. Karyopharm previously received Fast Track Designation for selinexor as a potential new treatment for patients with penta-refractory multiple myeloma who have received at least three prior lines of therapy. In October 2018, the U.S. FDA accepted Karyopharm's New Drug Application for selinexor seeking accelerated approval as a new treatment for patients with penta-refractory multiple myeloma. The FDA has assigned a Priority Review and given an action date of April 6, 2019 under the Prescription Drug User-Fee Act.
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VSAT | Hot Stocks08:10 EDT ViaSat receives initial Mini Crypto order from U.S. Air Force - Viasat has received a Low Rate Initial Production order of 1,000 National Security Agency-certified Mini Crypto devices from the U.S. Air Force. Viasat's Mini Crypto devices are designed for embedment on U.S. Department of Defense small form factor systems, allowing them to transmit SECRET and Below data securely across the battlespace. Systems include unmanned systems, emerging robotics applications, communications devices, and existing and emerging sensors.
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DVA | Hot Stocks08:10 EDT DaVita says 'we are grateful that Californians voted down Proposition 8' - DaVita Kidney Care, a division of DaVita, issued the following statement. "We are grateful that Californians voted down Proposition 8. It's disappointing that the SEIU-UHW used the ballot initiative process as leverage in pursuing their own objectives, despite the potential harmful consequences to nearly 70,000 California dialysis patients. We appreciate our caregivers who put our patients first and remained focused on delivering life-sustaining care to our patients. We will oppose any similarly misguided policies, promoted by the SEIU-UHW or others, in the future."
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ALNY | Hot Stocks08:09 EDT Alnylam expects to end 2018 with approx. $1B of cash, cash equivalents - Alnylam reiterates its expectations to end 2018 with approximately $1B of cash, cash equivalents and marketable debt securities, restricted cash and restricted investments, excluding equity securities. The Company reiterates its expectations for 2018 annual non-GAAP R&D expenses to be in the range of $420M to $460M and non-GAAP SG&A expenses to be in the range of $280M to $320M Both non-GAAP R&D and non-GAAP SG&A expenses exclude stock-based compensation expenses.
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JYNT | Hot Stocks08:09 EDT Joint Corp. names Jake Singleton as CFO - The Joint Corp. announced its board of directors has appointed its Corporate Controller, Jake Singleton, to the position of CFO. He will report directly to CEO Peter D. Holt.
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ONCS MRK | Hot Stocks08:08 EDT OncoSec doses first patient in KEYNOTE-890 Phase 2 clinical trial - OncoSec Medical (ONCS) announced that the first patient has been treated in KEYNOTE-890, a Phase 2 clinical trial for the treatment of late-stage triple negative breast cancer with TAVO in combination with Merck's (MRK) KEYTRUDA. KEYNOTE-890 is designed as a multicenter Phase 2 open-label trial focusing on patients with a histologically confirmed diagnosis of inoperable locally advanced or metastatic TNBC and at least 1 prior line of approved systemic chemotherapy or immunotherapy. 25 patients are expected to be enrolled. Each patient will undergo 3-week treatment cycles with pembrolizumab administered as a 30-minute IV infusion day 1 of every cycle (flat dose of 200 mg) and treated with TAVO on days 1, 5 and 8 every six weeks.
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PSMT | Hot Stocks08:08 EDT PriceSmart reports October revenue down 0.8% y-o-y to $244.9M - Fiscal year to date, which includes the two months ended October 31, net merchandise sales increased 1.0% to $488.5M from $483.9M for the two months ended October 31, 2017. There were 41 warehouse clubs in operation at the end of October 2018 and 40 warehouse clubs in operation at the end of October 2017. For the four weeks ended October 28, 2018, comparable merchandise sales for the 39 warehouse clubs open at least 13 1/2 full months decreased 1.3%, compared to the same four-week period last year.
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WYNN | Hot Stocks08:05 EDT Wynn Resorts names Phil Satre as Chairman of board, succeeding D. Boone Wayson - Wynn Resorts announced that its Board of Directors, at a regular meeting yesterday, unanimously voted Philip G. Satre Chairman of the Board. Satre, an independent director who joined the Board in August 2018 as Vice Chairman, succeeds D. Boone Wayson who is retiring from the Board. The Wynn Resorts Board is now comprised of 10 directors, six of whom joined the Board in 2018, and four of whom are women.
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FOX... | Hot Stocks08:05 EDT 21st Century Fox sees Disney transactions closing in first half of 2019 - As previously reported, on June 20, 2018, 21st Century Fox (FOXA) entered into an amended and restated merger agreement with Disney (DIS), pursuant to which Disney has agreed to acquire, for a price of $38 per company share, the company, including the Twentieth Century Fox Film and Television studios and certain cable and international television businesses. Prior to the acquisition by Disney, the company will separate the FOX Broadcasting Company, FOX Television Stations, FOX News Channel, FOX Business Network, FS1, FS2, Big Ten Network and certain other assets and liabilities into a newly formed subsidiary, FOX, and distribute all of the issued and outstanding common stock of FOX to the company's stockholders on a pro rata basis. The closing of the transactions contemplated by the Disney merger agreement are subject to the satisfaction of certain conditions, including, among others, regulatory approvals and the receipt of certain tax opinions with respect to the treatment of the transaction under U.S. and Australian tax laws. The company anticipates the transactions closing in the first half of calendar 2019.
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CSWI | Hot Stocks08:05 EDT CSW Industrials announces $75M share buyback authorization - CSW Industrials announced the Board of Directors has authorized a $75M share repurchase program over a two-year period. To date, the Company has repurchased approximately 656 thousand shares and completed the current $35 million Board-authorized share repurchase program implemented on November 11, 2016. As part of CSW Industrials' ongoing strategic planning with its Board of Directors, the Company also announced a formalized capital allocation strategy. Joseph Armes, Chief Executive Officer of CSW Industrials, said, "We are very pleased to formalize our capital allocation strategy, which will guide us as we remain focused on maximizing shareholder returns on a risk adjusted basis. The general framework of our broadly discussed capital allocation principles remains unchanged, but we believe that articulating our principles more formally adds incremental transparency and accountability to our shareholders." Capital allocation will be evaluated and prioritized on a risk-adjusted returns basis as detailed below. Investment to support organic growth opportunities. Investment in inorganic growth opportunities: The Company will prioritize accretive, synergistic acquisitions within its existing business units. The Company will also consider broader strategic opportunities as appropriate. Return of excess free cash to stockholders as appropriate through opportunistic share repurchases and dividends.
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NRE CLNY | Hot Stocks08:01 EDT Northstar Realty Europe announces process to review strategic alternatives - NorthStar Realty Europe (NRE) announced that the Strategic Review Committee of the Board of Directors, consisting solely of independent directors of the Company, is conducting a process to review strategic alternatives, including considering a potential sale of NRE, in an effort to maximize shareholder value. As previously disclosed, the SRC has been working diligently to evaluate various potential opportunities to enhance shareholder value, with the assistance of its outside financial and legal advisors. NRE also announced that it has reached an agreement with its external manager, an affiliate of Colony Capital, Inc. (CLNY), to terminate the Amended and Restated Asset Management Agreement between NRE and its manager that had provided for the external management of NRE through at least January 1, 2023. Such termination will be effective upon the consummation of a sale of NRE or, if no sale transaction is completed, in connection with the internalization of the management of NRE. In connection with such termination, NRE will make a termination payment to the Asset Manager in the amount of $70M minus the amount of any incentive fee paid to the Asset Manager under the Management Agreement. Until the Management Agreement is terminated, the Asset Manager will continue to manage NRE pursuant to the existing terms of the Management Agreement.
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UIS | Hot Stocks07:57 EDT Unisys selected by Virginia for $242.4M digital services contract - Unisys announced that the Virginia Information Technologies Agency - a new client for Unisys - has selected the company to provide consumption-based server, storage and data center services to Virginia government executive branch agencies as part of an initiative to modernize services to citizens. Valued at $242.4M and signed in Q3, the contract will improve the reliability of the digital services the commonwealth provides to citizens by modernizing hardware, security and services, while shifting to a consumption-based pricing model. VITA is the commonwealth's consolidated technology services and solutions provider responsible for the operation of the state's technology infrastructure, governance, security, oversight of major IT projects and procurement of technology-related goods and services on behalf of state and local governments. The contract allows for the introduction of new services over six years.
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JEC | Hot Stocks07:53 EDT Jacobs Engineering selected by George R. Brown Convention Center in Houston - Jacobs Engineering has been selected by Houston First Corporation as its architect and engineer to lead a multi-discipline design team for planned improvements at the city's downtown George R. Brown Convention Center. The George R. Brown Convention Center hosts more than 400 events and approximately 600,000 visitors annually.
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CRL | Hot Stocks07:53 EDT Charles River sees Q4 revenue growth driven by 'strong demand trends' - Expects 2018 non-GAAP operating margin will be lower than original estimate. Expects to generate sequential non-GAAP margin improvement in 4Q18. Expects 4Q18 reported and organic revenue growth driven by continued strong demand trends across all of businesses. Sees modest improvement in RMS growth rate due to a full quarter of revenue generated under the NIAID contract. Says 4Q18 Non-GAAP EPS assumptions include: continued strong operational performance, sequential operating margin improvement, partially offset by anticipated 4Q18 VC investment losses of approx. 10c and 4Q18 non-GAAP tax rate in the mid-20% range. Guidance from slides presentation for Q3 earnings conference call.
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HON | Hot Stocks07:52 EDT Honeywell sees FY Aerospace sales about $15.4B - Sees Aerospace segment margin 22.6%-22.7%. Comments taken from slides being presented at the Baird Global Industrial Conference.
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HUM | Hot Stocks07:49 EDT Humana revises FY18 medical membership metrics - Sees FY18: Individual Medicare Advantage: Up 200,000 to 210,000 (was Up 180,000 to 200,000); Group Medicare Advantage: Up ~60,000 (was Up 65,000 to 70,000); Medicare stand-alone PDP: Down 290,000 to 310,000 (was Down 280,000 to 320,000); Group commercial fully-insured: Down 80,000 to 90,000 (was Down 60,000 to 70,000).
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MCO | Hot Stocks07:46 EDT Moody's to acquire stake in ICR Chile - Moody's announced that it has agreed to acquire a minority stake in ICR Chile, a leading provider of domestic credit ratings in Chile. This transaction adds to Moody's growing presence across Latin America, which now extends to eight countries in the region.
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STKL | Hot Stocks07:41 EDT SunOpta continues to 'make progress" on Value Creation Plan - The company said, "As part of the Company's commitment to deliver long-term value to its shareholders, in early 2017 it launched its Value Creation Plan. The Company is targeting implementation of $30M of productivity-driven annualized enhancements to EBITDA in the first phase of the plan, to be implemented over 2017 and 2018. For 2017, these EBITDA benefits were offset by expenses associated with the Value Creation Plan, including structural investments made in the areas of quality, sales, marketing, operations and engineering resources, as well as non-structural third-party consulting support, severance and recruiting costs. For 2018, these EBITDA benefits are expected to be offset by a decline in profitability in the frozen fruit platform as a result of sales price reductions and higher costs. The plan also calls for increased investment in capital upgrades at several manufacturing facilities to continue to enhance food safety and manufacturing efficiencies. Over time, these investments are expected to yield additional improvement in EBITDA beyond the $30M of initial productivity-driven savings. During the third quarter of 2018, the Company continued to make progress against each of the four pillars of its Value Creation Plan and believes it is on track to achieve targeted productivity enhancements, while continuing to make the necessary structural investments it believes will drive growth and deliver long-term value. Since the initiation of the Value Creation Plan, the Company has implemented actions that are expected to yield approximately $28M of annualized EBITDA benefits. "
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ARDS | Hot Stocks07:39 EDT Aridis Pharmaceuticals' AR-301 Phase 1/2a data featured in publication - Aridis Pharmaceuticals announced that positive data from its first-in-human Phase 1/2a clinical trial of AR-301 as an adjunct to standard-of-care antibiotics for the treatment of severe pneumonia caused by Staphylococcus aureus bacteria, was published in the October 21 issue of the Intensive Care Medicine journal. The article was also summarized in the October 31 online edition of The Lancet Respiratory Medicine. In addition, this data was presented at the 31st Annual Congress of the European Society of Intensive Care Medicine in Paris. 48 patients were enrolled and treated in this trial. Results demonstrate that adjunctive treatment of severe S. aureus HABP in the ICU with AR-301 was well tolerated. There were few drug-related adverse events reported and the efficacy data trended toward shorter ventilation time for VABP patients and higher and faster microbiologic eradication. The primary objective of the Phase 1/2a study was to establish the safety and tolerability of a single administration of AR-301 in patients with severe S. aureus pneumonia. Secondary objectives were to assess the pharmacokinetics, immunogenicity, and microbiologic and clinical efficacy of AR-301.
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GRPN | Hot Stocks07:39 EDT Groupon reports global units sold declined 11% in Q3 - Groupon reports global units sold declined 11% to 39.5 million in the third quarter 2018 as a result of lower traffic and a continued focus on maximizing long-term gross profit, which resulted in fewer units. Units in North America were down 17%, with a significant portion of that decline due to a focus on long-term gross profit optimization in Goods, as well as continued scaling of Groupon+ and the sale of OrderUp that occurred in the second half of 2017.
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CDK | Hot Stocks07:37 EDT CDK Global appoints Brian Krzanich as CEO - CDK Global (CDK) announced that Brian Krzanich former CEO of Intel (INTC), has joined CDK Global as president and CEO and a member of the board. Krzanich succeeds Brian MacDonald who will assist in the transition.
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CPRT | Hot Stocks07:36 EDT Copart opens new location in South of Berlin, Germany - Copart is opening a new location in the south of Berlin, Germany. The facility is located at Nobelstr. 10 Massen-Niederlausitz, Brandenburg. This is Copart's first location in the proximity of Berlin, the capital of Germany. It is the company's fifth location in the country.
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CCLP | Hot Stocks07:36 EDT CSI Compressco sees 2018 CapEx $110M-$120M
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GCAP | Hot Stocks07:36 EDT Gain Capital raises share repurchase authorization to $50M - Gain Capital announced that its Board of Directors has increased the total amount of cash available for purchases of GAIN's common stock under its previously announced share repurchase plan to $50M in order to increase its flexibility to opportunistically purchase shares of common stock in the open market.
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GCAP | Hot Stocks07:35 EDT Gain Capital announces preliminary results of tender offer - Gain Capital announced the preliminary results of its "modified Dutch auction" tender offer, which expired at 5:00 P.M., New York City time, on November 6, 2018. Based on the preliminary count by Broadridge Corporate Issuer Solutions, the depositary for the tender offer, a number of shares of GAIN's common stock more than sufficient to allow GAIN to successfully complete the purchase of $50 million of its common stock were properly tendered and not properly withdrawn at or below the purchase price of $7.94 per share, including shares that were tendered by notice of guaranteed delivery. In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, GAIN expects to accept for payment, at a purchase price of $7.84, approximately 6,377,551 shares (based on proration of shares tendered) of its common stock properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $50M, excluding fees and expenses relating to the tender offer.
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AN | Hot Stocks07:33 EDT AutoNation announces new partnership with AAA - AutoNation announced a new partnership with AAA, one of the nation's largest membership organizations. AutoNation is AAA's first national Approved Auto Repair program partner, with over 220 facilities now approved under the program. Being AAR certified signals to consumers that AutoNation facilities meet the highest of professional standards. Facilities in the AAR program have undergone rigorous qualifications in customer satisfaction, technician training and community reputation.
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ENDP | Hot Stocks07:32 EDT Endo announces 'positive' results from Phase 3 studies of CCH - Endo announced positive results today from two identical Phase 3 RELEASE studies of collagenase clostridium histolyticum for the treatment of cellulite in the buttocks. Subjects receiving CCH showed highly statistically significant levels of improvement in the appearance of cellulite with treatment, as measured by the trial's primary endpoint, which was at least a 2-level composite improvement in cellulite severity in the target buttock at Day 71 as compared to subjects receiving placebo. In addition, RELEASE-1 passed 8 out of 8 key secondary endpoints and RELEASE-2 passed 7 out of 8 key secondary endpoints. CCH was well-tolerated in the actively-treated subjects with most adverse events being mild to moderate in severity and primarily limited to the local injection area.
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RCKT | Hot Stocks07:26 EDT Rocket Pharmaceuticals announces FDA clearance of IND application for RP-L102 - Rocket Pharmaceuticals announces the clearance of the Company's Investigational New Drug application for RP-L102, the Company's lentiviral vector-based gene therapy for the treatment of Fanconi Anemia, by the U.S. Food and Drug Administration. The clinical trial will evaluate "Process B" which incorporates higher cell doses, transduction enhancers, and commercial-grade vector manufacturing and cell processing. This process improves upon the first-generation process developed in partnership with the Centro de Investigaciones Energeticas, Medioambientales y Tecnologicas/Ciber of Rare Diseases/Fundacion Jimenez Diaz in Madrid, Spain. The planned clinical trial of "Process B" RP-L102 is expected to enroll approximately 12 FA patients at the Center for Definitive and Curative Medicine at Stanford University School of Medicine, Hospital Nino Jesus/CIEMAT, and other leading centers in the U.S. and in the EU.
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NOK INFY | Hot Stocks07:19 EDT Nokia, Infosys establish strategic alliance - Nokia (NOK) and Infosys (INFY) have established a strategic alliance to drive digital transformation in a wide array of enterprises and industries, addressing vertical markets including transportation, energy and manufacturing, media and entertainment and education. This collaboration will couple technology, products and services from Nokia with platform solutions, engineering and operations management expertise from Infosys. The goal of the strategic alliance is to help enterprises digitalize their operations by applying the latest in artificial intelligence, machine learning, and lean management coupled with the ubiquitous connectivity offered by mobile broadband and Internet of Things networks. As part of the collaboration, the two companies are developing solutions designed to address the specific needs of particular customer sets. Among the initial focus areas is the development of digital asset management solutions for the industrial environment that will will give enterprises a deeper understanding of the behavior of critical enterprise systems, enabling them to more effectively anticipate maintenance and operational requirements. The companies are also working on solutions that digitalize business and operational processes for communications, media and entertainment companies. Finally, the companies are engaged in the smart education market, leveraging wireless broadband, cloud and IoT technologies to create digital education solutions, supporting smart campus and smart classroom environments.
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TNXP | Hot Stocks07:17 EDT Tonix Pharmaceuticals announces new patent coverage protecting Tonmya - Tonix Pharmaceuticals Holding announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 10,117,936 to the Company on November 6, 2018. This patent, "Eutectic Formulations of Cyclobenzaprine Hydrochloride and Amitriptyline Hydrochloride," includes 34 claims directed to pharmaceutical compositions of eutectics of cyclobenzaprine hydrochloride and mannitol and methods of making those compositions. This patent is expected to provide Tonix with U.S. market exclusivity until 2034. The patent is part of an expanding portfolio of patents and patent applications and other intellectual property addressing the formulation, manufacturing, and uses of Tonmya, or TNX-102 SL, for a variety of indications including posttraumatic stress disorder, agitation in Alzheimer's disease, and fibromyalgia.
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CLNY | Hot Stocks07:16 EDT Colony Capital expects $50M-$55M in annual savings from restructuring plan - Following a strategic review process, the Company announced that it is implementing a corporate restructuring and reorganization plan to match resources that further align its increasing focus on the investment management business under an 'asset-light' business model while exiting certain non-core businesses and assets. The plan is expected to deliver $50 to $55 million of annual compensation and administrative cost savings on a run-rate basis by year-end 2019 and will result in a reduction of the Company's global workforce by approximately 15%. The majority of the benefit of the restructuring efforts will be seen in 2019 and early 2020, although some benefits may be realized in the fourth quarter of 2018.
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BGNE | Hot Stocks07:11 EDT BeiGene initiates head-to-head Phase 3 Zanubrutinib trial - BeiGene announced the first patient was dosed in a global Phase 3 clinical trial of its investigational BTK inhibitor zanubrutinib compared with ibrutinib in patients with relapsed/refractory chronic lymphocytic leukemia or small lymphocytic lymphoma. The global Phase 3 open-label trial is expected to enroll approximately 400 patients with relapsed/refractory CLL or SLL across approximately 150 study centers in the U.S., China, Europe, Australia and New Zealand. Patients will be randomized in a one-to-one manner to either zanubrutinib or ibrutinib. The primary endpoint is overall response rate, as determined by independent central review. Key secondary endpoints include progression-free survival, duration of response, overall survival, patient-reported outcomes, and safety. Zanubrutinib was recently granted Fast Track Designation by the U.S. Food and Drug Administration for the treatment of patients with Waldenstrom macroglobulinemia. New drug applications in China for zanubrutinib as a treatment for patients with mantle cell lymphoma and for patients with relapsed/refractory CLL or SLL, have been accepted for review by the National Medical Products Administration of China. Zanubrutinib is being studied in a broad registration program. In addition to this newly initiated Phase 3 trial, it is also being evaluated in a fully enrolled, global Phase 3 clinical trial in patients with WM comparing zanubrutinib to ibrutinib, a global Phase 3 clinical trial in patients with previously untreated CLL, and a pivotal Phase 2 trial in combination with GAZYVA in patients with relapsed/refractory follicular lymphoma. In China, in addition to the MCL and CLL filings, BeiGene has completed enrollment in another pivotal Phase 2 clinical trial of zanubrutinib in patients with WM.
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BHC | Hot Stocks07:10 EDT Bausch Health announces U.S. launch of BRYHALI Lotion, 0.01% - Bausch Health and its dermatology business, Ortho Dermatologics, announced it expects to start distribution of BRYHALI Lotion, 0.01%, to U.S. wholesale pharmaceutical distributors later this month. The company received final approval from the U.S. FDA for BRYHALI Lotion on Nov. 6, 2018. BRYHALI Lotion, which is indicated for the topical treatment of plaque psoriasis in adult patients, is a new potent to superpotent corticosteroid in a novel vehicle lotion with safety established for dosing up to eight weeks.
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CLNY... | Hot Stocks07:09 EDT Colony Capital CEO Richard Saltzman resigns - Colony Capital (CLNY) announced that its board of directors and its CEO Richard Saltzman, have reached a mutual agreement in which Saltzman, who has served as CEO since going public four years ago, has resigned as CEO, president and as a director of the company. Saltzman will remain in a non-executive capacity as chairman of both Colony Credit Real Estate (CLNC) and NorthStar Realty Europe (NRE), which are externally managed by subsidiaries of the company. Thomas J. Barrack, Jr., the company's executive chairman, has taken on the additional role of CEO of the company. In doing so, Barrack reassumes the position he held when he founded Colony as a private company in 1991, until 2014, when Colony merged into Colony Financial, Inc. The company will be implementing a set of additional organizational changes to further align with its increasing focus on its investment management business. Darren Tangen, the company's current CFO, has been named president, effective immediately, and will resign as CFO, effective January 1, 2019. Effective January 1, 2019, Mark Hedstrom, the company's current COO, will reassume the additional responsibilities of CFO, a position he held prior to Colony's 2014 merger into Colony Financial, Inc. Additionally, in connection with the exit of certain non-core business lines and as part of a reorganization and restructuring plan, Colony Capital will be commencing a series of steps to reduce overhead and match resources to its renewed set of missions, with an expected $50M to $55M in total annual general and administrative cost reductions over the next 12 to 18 months. These cost reductions are designed to leave the Company more nimble and de-centralized, with a focus on pay-for-performance.
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RTN | Hot Stocks07:08 EDT Raytheon wins two National Geospatial Agency contracts valued at up to $600M - Raytheon has won two prime Indefinite Delivery/Indefinite Quantity contracts from the National Geospatial Intelligence Agency to develop advanced data automation, analytics and artificial intelligence capabilities. The contracts have a potential combined total value of up to $600M.
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DAR | Hot Stocks07:07 EDT Darling Ingredients acquires stock of PPH Conto Ltd. - Darling Ingredients announced that it has acquired the stock of PPH Conto Ltd., a food grade animal fat processing facility in Lubien Kujawski, Poland. "Poland is one of the fastest growing meat production areas in Europe," said Randall Stuewe, Darling Ingredients Chairman and CEO. " The acquisition of Conto provides us the opportunity to strengthen our current position in this important growth area and enlarge our production portfolio with high end food grade fats. This will enable us to expand our service portfolio not only in Poland but across Europe for both our customers as well as to our suppliers," concluded Stuewe.
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SBGI | Hot Stocks07:06 EDT Sinclair Broadcast raises quarterly dividend to 20c from 18c per share - Sinclair Broadcast Group announced that its Board of Directors has increased the quarterly cash dividend per share on the Company's Class A and Class B common stock from 18c to 20c. The dividend is payable on December 17, 2018, to the holders of record at the close of business on November 30, 2018.
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NOK... | Hot Stocks07:05 EDT Nokia, China Unicom deploy private LTE network at BMW plant in China - Nokia (NOK) and China Unicom (CHU) have created a private LTE network for a BMW Brilliance Automotive Ltd (BMYY) plant being built in Shenyang city in the Liaoning province of China. The Nokia virtualized Multi-access Edge Computing solution will leverage China Unicom's 4G LTE network to provide low-latency support for smart manufacturing activities at the plant.
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NOK INFY | Hot Stocks07:04 EDT Nokia, Infosys establish strategic alliance to support digital transformation - Nokia (NOK) and Infosys (INFY) have established a strategic alliance to drive digital transformation in a wide array of enterprises and industries, addressing vertical markets including transportation, energy and manufacturing, media and entertainment and education. This collaboration will couple technology, products and services from Nokia with platform solutions, engineering and operations management expertise from Infosys. The goal of the strategic alliance is to help enterprises digitalize their operations by applying the latest in artificial intelligence (AI), machine learning, and lean management coupled with the ubiquitous connectivity offered by today's mobile broadband and Internet of Things (IoT) networks. As part of the collaboration, the two companies are developing solutions designed to address the specific needs of particular customer sets. Among the initial focus areas is the development of digital asset management solutions for the industrial environment that will will give enterprises a deeper understanding of the behavior of critical enterprise systems, enabling them to more effectively anticipate maintenance and operational requirements. The companies are also working on solutions that digitalize business and operational processes for communications, media and entertainment companies. Finally, the companies are engaged in the smart education market, leveraging wireless broadband, cloud and IoT technologies to create digital education solutions, supporting smart campus and smart classroom environments.
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NAK | Hot Stocks06:57 EDT Northern Dynasty reports voters elect pro-development governor Mike Dunleavy - Northern Dynasty reports that with 98% of precincts reporting, Alaska voters in a November 6 state-wide election have elected a new Governor, Republican Mike Dunleavy. The company said, "Governor-elect Dunleavy is a proponent of encouraging investment and responsible development of the state's natural resources to address the significant fiscal and economic challenges facing Alaska. In electing Dunleavy, Alaska voters rejected the candidacy of a Democratic challenger who opposed development of the Pebble Project. Dunleavy has stated that permitting decisions about resource development proposals in Alaska, including the Pebble Project, should be based on objective science and comprehensive reviews led by expert state and federal regulatory agencies. In the key U.S. Congressional House Representative election, incumbent Republican Don Young was the winner. Alaska voters on November 6 also rejected Ballot Measure 1, known as the Stand For Salmon initiative, which would have fundamentally re-written the state's regulatory framework and habitat protections for anadramous fish, and was positioned by its supporters as a vote against the Pebble Project. The anti-resource development initiative was opposed by a broad coalition of Alaskans who coalesced behind the Stand for Alaska campaign to defeat Ballot Measure 1, including resource companies and other business interests, community and political leaders, individuals, and a majority of Alaska Native regional corporations. With 98% of precincts reporting, more than 60% of Alaska voters had cast ballots in opposition to Ballot Measure 1."
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IDXG | Hot Stocks06:57 EDT Interpace Diagnostics announces new coverage by Blue Cross Blue Shield - Interpace Diagnostics announced that the Blue Cross Blue Shield Federal Employee Health Benefit Program has extended coverage of ThyGeNEXT and ThyraMIR to its 5.3M covered lives including federal employees, retirees and their families. The FEHBP relies on consumer choices among competing private plans to determine costs, premiums, benefits, and service and currently has a 66% federal employee and retiree plan participation rate. This follows the recent trend among numerous BCBS plans to adopt favorable coverage policies for ThyGeNEXT and ThyraMIR.
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SRE TOT | Hot Stocks06:54 EDT Sempra Energy units signs three HOAs with Total affiliates - Sempra Energy (SRE) announced that its subsidiaries Infraestructura Energetica Nova S.A.B. de C.V. and Sempra LNG & Midstream have signed three Heads of Agreements, or HOAs, with affiliates of Total S.A. (TOT), Mitsui & Co., Ltd. and Tokyo Gas Co., Ltd. for the full export capacity of Phase 1 of the Energia Costa Azul liquefied natural gas project located in Baja California, Mexico. ECA LNG Phase 1 is a single-train liquefaction facility to be located adjacent to the existing LNG receipt terminal and expected to produce approximately 2.4 million tonnes per annum of LNG for export to global markets.
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ODP | Hot Stocks06:50 EDT Office Depot raises FY18 outlook
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MRK | Hot Stocks06:47 EDT Merck to present early Phase 1 data from MK-4280, MK-7684 studies - Merck announced the first presentations of preliminary safety and efficacy data from Phase 1/2 dose finding studies for the company's investigational anti-LAG-3 therapy (MK-4280) and anti-TIGIT therapy (MK-7684) in patients with advanced solid tumors. LAG-3 and TIGIT are negative immune regulators and play different roles in downregulating the immune response. The preliminary findings from the studies demonstrated acceptable safety profiles with no dose limiting toxicities and early signals of anti-tumor activity for Merck's anti-LAG-3 therapy (MK-4280) (Abstract #O26) and anti-TIGIT therapy (MK-7684) (Abstract #O25) as monotherapies and in combination with KEYTRUDA(R) (pembrolizumab), Merck's anti-PD-1 therapy.
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ACHN | Hot Stocks06:45 EDT Achillion CFO Mary Kay Fenton to step down at year-end 2018 - Achillion CFO Mary Kay Fenton has decided to step down from Achillion and her role as CFO effective year end 2018. She joined Achillion at its inception.
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LUV | Hot Stocks06:44 EDT Southwest reports October traffic - Southwest reported its October preliminary traffic statistics. The company flew 11.3B revenue passenger miles, or RPMs, in October, an increase of 6% from the 10.7B RPMs flown in October 2017. Available seat miles, or ASMs, increased 7.7% to 13.4B in October, compared with October 2017 ASMs of 12.4B. The October load factor was 84.5%, compared with 85.8% in October 2017.
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ENBL | Hot Stocks06:42 EDT Enable Midstream sees 2019 natural gas gathered volumes 4.3-4.9 TBtu/d - Sees 2019 natural gas processed volumes 2.3-2.8 TBtu/d. Sees 2019 net income $435M-$505M. Sees 2019 Maintenance CapEx $105M-$125M.
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LEG | Hot Stocks06:41 EDT Leggett & Platt appoints Mitch Dolloff as COO - Leggett & Platt announced that Mitch Dolloff will assume the role of COO effective January 1, 2019, a role last held by Karl Glassman prior to his becoming CEO in January 2016. Mitch will also maintain his current position as President of the Specialized Products and Furniture Products segments until such time successor segment presidents are appointed. Perry Davis will remain the President of Residential Products and Industrial Products segments and will report to Mitch.
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COTY | Hot Stocks06:41 EDT Coty provides outlook for FY19 - Management said, "As we look to the remainder of the year: 2Q19: We expect underlying YoY net revenue trends in 2Q19 to improve versus 1Q19 across all three divisions, inclusive of expected supply chain headwinds. We expect Luxury and Professional Beauty to return to LFL net revenue growth in 2Q19, while Consumer Beauty YoY trends should improve to a high single digit decline. On adjusted operating income, we expect 2Q19 adjusted operating income to be moderately lower YoY, driven by remaining supply chain impacts and FX headwinds. The 2Q19 year-over-year adjusted EPS comparison will be pressured by the $42 million positive tax settlement recorded in 2Q18. FY19: Despite the supply chain headwinds, we continue to expect operating profit and margin growth in FY19, driven by significant progress in fixed cost reductions and synergy delivery. However, we need some more time to assess the financial impacts of the continuing supply disruptions and, at this stage we are not providing any further guidance, but expect to provide an update on our outlook on the next earnings call. Deleveraging remains a top priority in FY19 and beyond. We remain committed to our target of achieving a Net Debt to adjusted EBITDA ratio of below 4.0x by the end of calendar 2020 and we expect positive free cash flow in the remaining quarters and in FY19. Our liquidity position is substantial, with significant flexibility from over $2 billion of revolver availability."
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COTY | Hot Stocks06:40 EDT Coty to modify distribution center consolidation plan - Commenting on the financial results, Camillo Pane, Coty CEO said: "We are very disappointed with the supply chain disruptions that we have experienced over the last quarter and the resulting poor Q1 financial performance. While we had anticipated some level of disruption in the first quarter from warehousing and planning consolidation, the increased scope of the disruptions resulted in much weaker results than previously expected. We have been working to remedy the supply chain issues and expect to temper the headwinds in 2Q19, and have them be substantially resolved in 3Q19, although we do not expect to fully recover the 1Q19 financial impact in the balance of FY19. As a result of these disruptions, we have decided to modify our distribution center consolidation plan for the remainder of the year to minimize business impact. With a healthy synergy delivery already in 1Q19, these modifications should have no impact to our commitment of $225 million of synergies in FY19 and $750 million total by the end of FY20. By division, underlying consumer demand in Luxury and Professional Beauty remains strong, and if we exclude the supply chain disruptions, both divisions would have reported solid net revenue growth in 1Q19 consistent with their FY18 trend, driven by strong innovation and excellence in execution. However, Consumer Beauty's underlying high single digit revenue decline clearly reflects category weakness in developed markets, continued competitive pressure and performance challenges with some of our brands, as well as the repercussions of our severe supply chain disruptions on our Consumer Beauty gross-to-net, including customer penalties and increased promotional support. From here, the pathway to stabilization of Consumer Beauty will focus on: 1) strengthening operational discipline, including restoring service levels; 2) actively improving gross-to-net as supply chain headwinds abate; 3) refocusing investment from lower priority to higher-potential brand-country combinations; 4) an increased focus on cost structure to reflect the top-line trajectory; and 5) a more pronounced shift in investments towards new growth channels. "To conclude, 1Q19 was a disappointing setback in achieving our financial targets and strategic goals, and we are working hard to solve the issues. With the P&G Beauty integration near completion, and after we have overcome the internal challenges, we will be better equipped to focus more externally, so that we can fully capitalize on the exciting and dynamic changes in the beauty industry. We remain absolutely convinced that the fast-paced and ambitious transformational agenda we are pursuing, including comprehensive upgrades to our systems, processes, culture, and people, is ultimately building a much stronger Coty for the long term."
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LEG | Hot Stocks06:32 EDT Leggett & Platt to acquire Elite Comfort Solutions for $1.25B - Leggett & Platt announced that it has entered into a definitive agreement to acquire Elite Comfort Solutions, or ECS, for $1.25 billion in cash. The transaction has been approved by the Board of Directors of Leggett & Platt and is expected to close in January 2019, subject to customary closing conditions and regulatory approvals. ECS, a portfolio company of Arsenal Capital Partners (Arsenal), is a leader in proprietary specialized foam technology primarily for the bedding and furniture industries. ECS's annual sales for the fiscal year ended September 30, 2018 were $611 million. With 16 facilities across the United States, ECS operates a vertically integrated model, producing specialty foam, developing many of the chemicals and additives used in foam production, and manufacturing private-label finished products. These innovative specialty foam products include finished mattresses sold through both traditional and online channels, mattress components, mattress toppers and pillows, and furniture foams. ECS is expected to generate double-digit sales growth and strong EBITDA margins that should be accretive to company average margins. Due to impacts from purchase accounting, ECS is expected to have a slightly negative effect on consolidated EBIT margins. For modeling purposes, in 2019, Leggett anticipates net interest expense of approximately $90 million, fully diluted shares of 136 million, and an approximate 23% tax rate. Including these factors, the acquisition is expected to be neutral to EPS in 2019 and accretive to EPS beginning in 2020.
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LEG | Hot Stocks06:31 EDT Leggett & Platt to acquire Elite Comfort Solutions for $1.25B
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HUM | Hot Stocks06:31 EDT Humana raises FY18 outlook
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SPX SPY | Hot Stocks06:28 EDT Trump says 'now we can all get back to work and get things done' - President Donald Trump just tweeted, "Received so many Congratulations from so many on our Big Victory last night, including from foreign nations (friends) that were waiting me out, and hoping, on Trade Deals. Now we can all get back to work and get things done!"
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CNHI ACN | Hot Stocks06:20 EDT CNH Industrial signs software application service agreement with Accenture - CNH Industrial (CNHI) has executed a new five-year agreement with Accenture (ACN) to streamline the application management services provided to its SAP landscape. The new agreement introduces artificial intelligence, enhanced automation, cognitive tools, and user support capabilities, some of which will be delivered via Accenture myWizard, within CNH Industrial's Information & Communication Technology operations with the aim to deliver increased service levels and generate efficiencies in the enterprise services offered over the next five years. These services will help ensure the delivery of continuous innovation and improve business performance and outcomes.
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FOMX | Hot Stocks06:15 EDT Foamix reports 'positive' topline results from Phase 3 trial of FMX-103 - Foamix Pharmaceuticals announced the topline results from its Phase 3 program evaluating FMX103 1.5% minocycline foam, in the treatment of moderate-to-severe papulopustular rosacea. Studies FX2016-11 and FX2016-12 met both co-primary endpoints of absolute change from baseline in inflammatory lesion count at Week 12, and Investigator Global Assessment treatment success at Week 12, defined as an IGA score of 0 or 1, and at least a 2-grade improvement from baseline. The safety profile of FMX103 was found to be favorable. Data from study FX2016-13 evaluating the long-term safety of FMX103 are expected to be reported in the first half of 2019.
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BHGE | Hot Stocks06:10 EDT Baker Hughes announces October international rig count of 1,017, up 13 - Baker Hughes announced that the Baker Hughes international rig count for October 2018 was 1,017, up 13 from the 1,004 counted in September 2018, and up 66 from the 951 counted in October 2017. The international offshore rig count for October 2018 was 207, up 3 from the 204 counted in September 2018, and up 3 from the 204 counted in October 2017. The average U.S. rig count for October 2018 was 1,062, up 9 from the 1,053 counted in September 2018, and up 140 from the 922 counted in October 2017. The average Canadian rig count for October 2018 was 192, down 9 from the 201 counted in September 2018, and down 12 from the 204 counted in October 2017. The worldwide rig count for October 2018 was 2,271, up 13 from the 2,258 counted in September 2018, and up 194 from the 2,077 counted in October 2017.
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VEAC QEP | Hot Stocks06:09 EDT Vantage Energy Acquisition to acquire QEP Resources' Williston Basin assets - Vantage Energy Acquisition Corp. (VEAC) announced it has entered into definitive agreements with QEP Energy Company, a wholly owned subsidiary of QEP Resources (QEP), to acquire the entirety of QEP's Williston Basin assets in North Dakota and Montana, which includes the South Antelope and Fort Berthold leasehold and various mineral interests, for $1.65B cash consideration, prior to post-effective date adjustments, and up to 5.8M shares of Vantage common stock if certain stock price targets are achieved. Upon closing the transaction, Vantage Energy Acquisition Corp. will change its name to Vantage Energy, which will be led by Biemans as Vantage's full-time Chairman, President and CEO. In addition to Biemans' leadership and the rest of the current Vantage team, Vantage expects to retain a significant portion of QEP's High Plains business unit team, including operations, engineering, geoscience, land, administrative and finance groups. The transaction is subject to approval by VEAC shareholders and other customary closing conditions, and the new company will trade on the NASDAQ under the ticker "VEI" upon closing, which is expected to occur late in the first quarter or early in the second quarter of 2019. On November 6, 2018, VEAC entered into definitive agreements to acquire QEP's Williston Basin position for approximately $1.65 billion in cash and up to 5.8 million shares of Vantage stock if certain stock price targets are achieved, subject to customary purchase price adjustments and with an effective date of July 1, 2018. The acquisition will be financed using a combination of $560 million in cash from the VEAC IPO being held in trust (assuming no redemptions), $185 million in proceeds from an equity issuance from NGP Vantage under the forward purchase agreement entered into at IPO and approximately $642 million debt (less than1.5x 2018 estimated EBITDA) at closing. Debt will be comprised of a $400 million bridge to a proposed bond offering and $242 million drawn on a $900 million credit facility. Upon the closing of the business combination, the company will be renamed Vantage Energy Inc. With an anticipated initial enterprise value of $1.52 billion and an estimated $427 million of EBITDA for 2019, the transaction is valued at approximately 3.6x 2019 estimated EBITDA. 4 Vantage intends to propose an initial annual dividend of $0.25 per share. Assuming no redemptions of VEAC public shares, the VEAC public investors will own 63% of the issued and outstanding shares of common stock of Vantage immediately following the closing, while NGP Vantage will own 37%. The transaction was unanimously approved by the board of VEAC and remains subject to the approval of VEAC shareholders and the satisfaction or waiver of other customary conditions. VEAC has secured financing commitments for the anticipated funded debt and reserve based lending facility. Following the consummation of the transaction, Vantage's common shares will remain listed on the NASDAQ. Upon closing, Vantage will maintain a seven-person board, which will include Roger Biemans as Chairman, two appointees named by NGP Vantage and four additional independent directors. In connection with the transaction, QEP will continue to provide transition services for up to 120 days post-closing. QEP's High Plains business unit includes more than 150 dedicated operating, technical and field level employees immediately available for hire.
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BA | Hot Stocks06:09 EDT Boeing issues safety bulletin for pilots after Indonesia crash - Boeing is providing support and technical assistance to the Indonesian National Transportation Safety Committee and other government authorities responsible for the investigation into Lion Air flight 610. The Indonesian National Transportation Safety Committee has indicated that Lion Air flight 610 experienced erroneous input from one of its AOA sensors. Whenever appropriate, Boeing, as part of its usual processes, issues bulletins or makes recommendations regarding the operation of its aircraft. On November 6, 2018, Boeing issued an Operations Manual Bulletin directing operators to existing flight crew procedures to address circumstances where there is erroneous input from an AOA sensor. The investigation into Lion Air flight 610 is ongoing and Boeing continues to cooperate fully and provide technical assistance at the request and under the direction of government authorities investigating the accident.
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GE | Hot Stocks06:07 EDT Xiamen Airlines signs digital solutions agreement with GE Aviation - Xiamen Airlines signed an agreement with GE Aviation on the Event Measurement System based Flight Analytics Services to further extend their strategic cooperation in digitalization. This service enables customers to effectively enhance flight safety, optimize fuel efficiency and reduce operational costs for the airline's fleet.
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MNTA | Hot Stocks06:06 EDT Momenta sees Q4 collaborative reimbursement revenues $0M-$2M - Expects to continue to recognize revenue from Mylan's $45M upfront payment on a quarterly basis. Sees 2018 non-GAAP operating expense $230M-$240M and Q4 operating expense $45M-$55M. Approximately $1.4M in additional charges related to the restructuring are anticipated to be recorded in Q4.
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QEP | Hot Stocks06:05 EDT QEP Resources to sell Williston Basin assets to Vantage for up to $1.725B - QEP Resources (QEP) announced that its wholly owned subsidiary, QEP Energy Company, entered into a definitive agreement to sell its assets in the Williston Basin to Vantage Acquisition Operating Company, LLC, a wholly-owned subsidiary of Vantage Energy Acquisition Corp. (VEAC) for a purchase price of up to $1.725B, subject to purchase price adjustments. The purchase price is comprised of $1.65B in cash and contractual rights to receive up to $50M and $25M in Vantage common stock if the daily volume weighted average trading price of Vantage's common stock for 10 out of 20 consecutive trading days is at or above $12 per share and $15 per share, respectively. QEP shall be entitled to the equity consideration if the share price thresholds are met at any time during the five year period following closing of the transaction. The agreement provides for the sale of all of QEP's assets in North Dakota and Montana, which includes the Company's South Antelope and Fort Berthold leasehold in the Williston Basin. The transaction has an effective date of July 1, 2018, is subject to certain conditions, including, but not limited to, Vantage shareholder and regulatory approvals, and is expected to close late in the first quarter or early in the second quarter 2019.
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ITG VIRT | Hot Stocks06:03 EDT ITG to be acquired by Virtu Financial for $30.30 per share in cash - ITG (ITG) announced that it has reached a definitive agreement for Virtu Financial (VIRT) to acquire all outstanding shares of ITG's Common Stock for $30.30 per share in cash. The price represents a premium of more than 40% over ITG's average closing share price of $21.55 in the 30 days prior to news reports of a potential sale on October 4, 2018. Minder Cheng, Chairman of the Board of Directors, said, "ITG has made tremendous progress in executing on its Strategic Operating Plan over the past two years, and the agreement with Virtu is a result of the dedicated efforts of our management team and employees. After careful consideration, ITG's Board of Directors determined that the proposal from Virtu, which provides an immediate and significant cash premium, offers the most value for ITG stockholders. The combination of Virtu and ITG will create an industry-leading financial technology franchise with true global capabilities and scale." J.P. Morgan is serving as the financial advisor and Wachtell, Lipton, Rosen & Katz is providing legal counsel to ITG.
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ITG VIRT | Hot Stocks06:01 EDT ITG to be acquired by Virtu Financial for $30.30 per share
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ORN | Hot Stocks05:32 EDT Orion Group announces contract award of about $10M - Orion Group announced a contract award of approximately $10M. The company's marine segment was recently awarded a contract from the U.S. Army Corps of Engineers. The contract calls for the dredging of the Sabine-Neches Waterway in Orange and Jefferson counties, Texas, including the lower reach of the Neches River, the Sabine-Neches Canal and Turning Basin and the Port Arthur Canal. The project is expected to begin late in the fourth quarter of 2018 with a duration of approximately six months.
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ORN | Hot Stocks05:32 EDT Orion Group announces $9M contract award - Orion Group Holdings announced a contract award of approximately $9 million. The company's concrete segment, TAS Commercial Concrete Construction, was recently awarded a contract for the construction of a Fine Arts, Athletics Complex and Site Package in Arlington, Texas. The company's scope on the project calls for site concrete, foundations, walls, and other structural concrete components. The project is expected to begin immediately with a duration of eighteen months.
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NOK | Hot Stocks05:29 EDT Nokia signs frame agreements worth over EUR 2B with 3 Chinese operators - Nokia has signed three separate frame agreements worth a combined value of more than EUR 2B with China Mobile, China Telecom and China Unicom. Under the agreements, Nokia will deploy technologies and services to improve performance in fixed and mobile broadband networks across China to meet ever-growing demand as operators transition towards 5G. Demand for the internet, particularly on a mobile device, continues to rise in China, the world's most populous country. China Mobile, China Telecom and China Unicom are committed to delivering the highest quality service to their subscribers and will leverage products and services from across Nokia's end-to-end portfolio, through to the end of 2019, to enhance speed, reliability and capacity in their networks. Nokia will deliver technologies and expertise across China for China Mobile: radio access, core, passive optical networks, IP routing and optical transport, SDN, network management and professional services. Nokia will support China Telecom to improve country-wide 4G LTE coverage and hot spot capacity. Nokia will provide its end-to-end portfolio and solutions for China Telecom including FDD-LTE radio access, home CPE solutions, core routers, multi-service edge routers and optics as well as its services expertise. Both parties will also enhance 5G cooperation and accelerate China's 5G progress. Nokia will help China Unicom deploy technologies across the country including Nokia FDD-LTE radio access, Multi-access Edge Computing, virtualized IMS, SDN, IP routing and optical transport, and fixed network equipment. Working with Nokia, China Unicom aims to enhance network quality and capacity to grow its 4G LTE customer base, while researching and developing the expansion of IoT services and the evolution to 5G, including the use of artificial intelligence in networks. Nokia will provide its services expertise under the frame agreements, including network planning, implementation, systems integration, maintenance and performance optimization.
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AMZN | Hot Stocks05:23 EDT Amazon expands grocery pickup from Whole Foods to more cities - Amazon and Whole Foods Market expanded grocery pickup from Whole Foods Market through Prime Now to eight cities, including Birmingham, Colorado Springs, Long Island, Milwaukee, Salt Lake City, San Antonio, Tacoma and Tulsa. Prime members in those cities now have the option to shop Whole Foods Market's selection of fresh and organic produce, bakery, dairy, meat and seafood, floral and everyday staples and pick up their order in as little as 30 minutes, all without leaving their car. Grocery pickup from Whole Foods Market is now available in 22 cities; the service launched in August with plans for continued expansion. To enjoy grocery pickup, Prime members place their order via the Prime Now app and choose the pickup option at checkout. Customers can choose free pickup in as little as an hour on orders of $35, or in 30 minutes for $4.99. After arriving at the Whole Foods Market store, customers can park in a designated pickup spot and a Prime Now shopper will place groceries into their car within minutes. For customers who tell us they are on their way to the store in the Prime Now app, groceries will be ready as they arrive.
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SENS | Hot Stocks05:21 EDT Senseonics announces FDA approval of Eversense CGM System - Senseonics Holdings announced that the Eversense Continuous Glucose Monitoring, or CGM, System has received FDA approval for qualified health care providers to be trained and certified to provide patients with the highly accurate sensor that lasts up to three months. Previously, the sensor insertion and removal procedure could only be performed by trained physicians.
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