Stockwinners Market Radar for November 20, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
RDY | Hot Stocks20:44 EDT Dr. Reddy's announces favorable outcome in Buprenorphine and Naloxone litigation - Dr. Reddy's Laboratories along with its subsidiaries announced that the United States Court of Appeals for the Federal Circuit issued a decision in favor of Dr. Reddy's Laboratories Inc., concluding that Indivior had not shown that it is likely to succeed on the merits of its infringement case on U.S. Patent No. 9,931,305. This decision vacates the District Court's preliminary injunction that had prohibited Dr. Reddy's from selling its generic version of Suboxone sublingual film. As a result of today's ruling, Dr. Reddy's will resume its launch activities as soon as permitted.
|
KBH | Hot Stocks20:17 EDT KB Home expands into Seattle housing market - KB Home announced its expansion into the Seattle market, with its national reach now encompassing 36 markets in eight states. The communities and floor plans will be designed to target first-time and first move-up buyers to align with KB Home's core business strategy. In keeping with the Company's distinct approach to home building, KB home buyers will be able to personalize many aspects of their new home to suit their budget, design style and personal needs. KB Home named Washington native, Ryan Kemp, president of the Seattle division, where he is overseeing the Company's home building operations throughout the region, from land acquisition and construction to sales and customer service. He will report to Brian Kunec, regional general manager of KB Home's Las Vegas and Seattle divisions.
|
CLDR | Hot Stocks20:16 EDT Cloudera partners with Bank Rakyat Indonesia - Cloudera announced that PT. Bank Rakyat Indonesia Tbk (BRI), one of the largest state-owned banks in Indonesia, has deployed Cloudera Enterprise to harness the power of their data to deliver better services to its customers and accelerate financial inclusion in Indonesia. By powering its big data platform with Cloudera, the financial institution has expanded its customer base and enhanced its fraud detection capability through machine learning.
|
FL... | Hot Stocks18:56 EDT Fly Intel: After Hours Movers - UP AFTER EARNINGS: Foot Locker (FL) up 14.8%... Autodesk (ADSK) up 7.9%... BJ's Wholesale (BJ) up 7.2%... Keysight Technologies (KEYS) up 5.8%... Copart (CPRT) up 4.7%... 21Vianet Group (VNET) up 2.6%... The Gap (GPS) up 0.7%. DOWN AFTER EARNINGS: Bilibili (BILI) down 7.6%. ALSO LOWER: DexCom (DXCM) down 1.5% after mixed shelf offering.
|
EMCI | Hot Stocks18:28 EDT EMC Insurance announces receipt of proposal from EMCC to buy all of its shares - EMC Insurance announced receipt of a non-binding indicative proposal dated November 15, 2018 from its parent company, Employers Mutual Casualty Company, to purchase all the outstanding common stock of the company not already owned by EMCC, and the formation of a special committee of the company's board of directors to consider the proposal. EMCC currently owns approximately 55% of the outstanding shares of the Company's common stock. The proposal, which is subject to certain conditions, provides that the shares will be purchased at a price of $30 per share in cash. A copy of the proposal is included as Annex A to this news release. In response, the company's board of directors has established a special committee consisting of the company's four independent directors to consider the Proposal. The special committee intends to retain its own independent financial and legal advisors to assist it in considering the proposal.
|
EEX | Hot Stocks18:26 EDT Emerald Expositions Events announces $20M share repurchase program - The company anticipates funding any share repurchases from its cash on hand and permitted borrowings under the company's credit facilities.
|
BKH | Hot Stocks18:24 EDT Black Hills Energy receives approval to construct $54M gas pipeline in Wyoming - Black Hills announced that its Wyoming natural gas utility, Black Hills Gas Distribution, doing business as Black Hills Energy, received approval from the Wyoming Public Service Commission for a certificate of public convenience and necessity to construct a new $54M 35-mile natural gas pipeline to enhance supply reliability and delivery capacity for approximately 57,000 customers in central Wyoming. The new 12-inch steel pipeline will be constructed from an interconnection supply point near Douglas, Wyoming, to existing facilities near Casper, Wyoming. The pipeline, known as the Natural Bridge Pipeline, is planned to be in service in late 2019.
|
LTM | Hot Stocks18:01 EDT LATAM Airlines reports Q3 operating income $175M
|
CE | Hot Stocks18:01 EDT Celanese increases Fortron polyphenylene sulphide price by 85c per kg - The price increases will be effective for orders shipped on or after January 1, 2019, or as contracts otherwise allow.
|
VLKAY... | Hot Stocks17:52 EDT British Columbia sets path for 100% zero-emission vehicle sales by 2040 - In a move aimed at removing a major source of air pollution and climate change, the provincial government has put British Columbia on a path to require the sale of all new light-duty cars and trucks to be zero-emission vehicles by the year 2040. Premier John Horgan has announced the government, in partnership with the B.C. Green caucus, will introduce legislation next spring to phase in targets for the sale of zero-emission vehicles. This legislation will set targets of 10% ZEV sales by 2025, 30% by 2030, and 100% by 2040, while government will take additional steps to make ZEVs more affordable. "There's nothing more important than taking care of the place we call home," said Premier Horgan. "As a province, we need to work together to put B.C. on a path that powers our future with clean, renewable energy and reduces air pollution." Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
|
FIZZ | Hot Stocks17:39 EDT National Beverage announces special cash dividend of $2.90 per share - The dividend is payable to shareholders of record on November 30, 2018. FIZZ will trade ex-dividend on November 29, 2018 and the payment date for this distribution shall be on or before January 29, 2019.
|
MDU | Hot Stocks17:27 EDT MDU Resources sees 2019-2023 CapEx $2.6B - "We have identified and expect to continue to execute on significant growth projects," said David Goodin, president and CEO of MDU Resources. "This five-year plan includes line-of-sight opportunities at all of our businesses, including substantial growth at our regulated operations and higher capital expenditures at our construction businesses." Acquisitions would be incremental to the company's 2019-2023 capital investment plan. MDU Resources will provide updates as opportunities outside the capital investment plan are identified.
|
FL | Hot Stocks17:19 EDT Foot Locker sees Q4 SSS up low to mid single digits
|
FL | Hot Stocks17:17 EDT Foot Locker says women's business was the strongest in footwear - Says pleased by Foot Locker Europe. Says new Asia stores is Hong Kong and Singapore had good sales. Says stores have decreased by 10 since the end of Q2. Expects to open 45 stores for the year and close 140. Says holiday sales have already kicked off. Comments taken from Q3 earnings conference call.
|
DXCM GOOGL | Hot Stocks17:16 EDT DexCom and Verily amend license agreementAlphabet Class A - DexCom (DXCM) and Verily, an Alphabet (GOOGL) company, announced an amendment to the Collaboration and License Agreement surrounding the ongoing development efforts between the companies. The revised terms are intended to reinforce the companies' mutual product development goals, while expanding options for future collaborations. The agreement also accelerates Dexcom's efforts to advance into the Type 2 diabetes space and improves its future profitability. Key Updates: Agreement strengthens product development timelines for the second generation CGM system. Dexcom will continue to evaluate near-term opportunities for the first generation product, and the company's focus shifts to commercializing the second generation offering; Agreement structure increases synergy with Verily's Onduo franchise, where Dexcom will be the preferred CGM device supplier into Onduo's Type 2 diabetes management program. Additionally, Dexcom and Verily have expanded options to collaborate on the development of additional products and software pertaining to Dexcom's products. The royalty payments set forth in the original agreement have been eliminated in the amended agreement.
|
RDC ESV | Hot Stocks17:02 EDT Rowan Companies and Ensco granted early termination of waiting period - Rowan Companies (RDC) and Ensco (ESV) jointly announced that they have received notice from the Department of Justice and the Federal Trade Commission granting early termination of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976. Completion of the transaction remains subject to satisfaction or waiver of certain other conditions, including approval by the shareholders of both Rowan and Ensco along with other regulatory and court approvals.
|
SMBK | Hot Stocks17:00 EDT SmartFinancial authorizes $10M stock repurchase plan - SmartFinancial announced that its board of directors authorized a stock repurchase plan. Under the plan, SmartFinancial may repurchase up to $10M of its outstanding shares of common stock. The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending upon market conditions. Through the plan, the purchases will be funded from available working capital, and the repurchased shares will be become authorized, unissued shares. There is no guarantee as to the exact number of shares that will be redeemed by SmartFinancial, and SmartFinancial may discontinue repurchases at any time that management determines additional purchases are not warranted.
|
RJF | Hot Stocks16:55 EDT Raymond James reports AUM as of October 31st at $753.2B vs. $703.8B last year
|
FULT | Hot Stocks16:53 EDT Fulton Financial approves $75M stock repurchase program - Fulton Financial announced that its board of directors has approved the repurchase of up to $75M of shares of Fulton's common stock, or approximately 2.7% of Fulton's outstanding shares, based on the closing price of Fulton's common stock and the number of shares outstanding on October 31, 2018. This approval expires on December 31, 2019. Fulton also announced that it repurchased a total of approximately $44.6M of shares under the $50M stock repurchase program which was originally announced in October 2015, including approximately $26.1M of shares repurchased during the fourth quarter of 2018. As of November 19, 2018, approximately $5.4M of Fulton's common stock remain authorized for repurchase under that program through December 31, 2018.
|
UNVR | Hot Stocks16:46 EDT Univar opens new sales center in Colombia - Univar announced the opening of a new sales center in Colombia, to expand Latin American reach. Univar will continue to expand the Colombian sales center through 2019 as the company looks to further strengthen its presence in the Latin American region.
|
MNI | Hot Stocks16:41 EDT Bluestone Financial reports 6.31% stake in McClatchy - The Reporting Person purchased the shares of Common Stock based on the belief that The McClatchy Company shares are undervalued and represent an attractive investment opportunity. The Reporting Person may in the future make proposals to the Issuer concerning Merger & Acquisitions opportunities.
|
ERA | Hot Stocks16:33 EDT Era Group names Crystal Gordon SVP General Counsel, Chief Administrative Officer - Era Group announced that Crystal Gordon has been appointed to the position of Senior Vice President, General Counsel & Chief Administrative Officer, effective January 1. Ms. Gordon has an extensive background in corporate law, mergers and acquisitions, and aviation, most recently as Executive Vice President, General Counsel & Corporate Secretary at Air Methods Corporation, one of the largest air medical providers in the world with approximately 450 helicopters and fixed-wing aircraft.
|
ECOM | Hot Stocks16:31 EDT ChannelAdvisor, Interpark announce new strategic partnership - ChannelAdvisor announced a new strategic partnership with Interpark Holdings Corporation, aa e-commerce marketplace based in Seoul. Both companies are teaming up to integrate their services, helping brands and retailers create an optimal online shopping experience for their customers while expanding their global presence in South Korea. "As the first e-commerce shopping platform in Korea, Interpark is thrilled to connect our 28 million members with a trusted partner like ChannelAdvisor," says Tae Shin Lee, CSO of Interpark. "We've built a successful online marketplace through our Cross Border Trading program for U.S. sellers, which includes logistics, customer service, and translation. Our platform and business model align perfectly with ChannelAdvisor's ability to manage complex data sets for U.S.-based brands and retailers, helping them to excel in the Korean market. With 30,000 active sellers on our marketplace today, we're looking forward to great opportunities in the upcoming years of our strategic partnership."
|
ADSK | Hot Stocks16:27 EDT Autodesk up 8% to $133.23 after Q3 results, FY19 guidance beat estimates
|
HOLX | Hot Stocks16:23 EDT Hologic VP Allison Bebo sells 6,500 shares of company stock - Hologic VP Allison Bebo disclosed in a filing that she had sold 6,500 shares of company stock at an average price of $42 per share on November 16. The total transaction value was $273,000.
|
K | Hot Stocks16:22 EDT Kellogg CFO acquires 8,190 common shares - In a regulatory filing, Kellogg CFO Fareed A. Khan disclosed the acquisition of 8,190 common shares of the company at a price of $62.1434 per share.
|
FLR | Hot Stocks16:20 EDT Fluor selected for lithium, boron mine project in Nevada - Fluor Corporation announced that ioneer Ltd. has selected Fluor to deliver its lithium and boron mine outside of Tonopah, Nevada. Fluor will initially provide a definitive feasibility study, and subsequently, engineering, procurement and construction management services as the project progresses. Fluor will book the feasibility study contract value in the fourth quarter of 2018 and expects to book the full EPCM contract value in 2019 dependent on a final investment decision. The mine will extract and process ore to produce 20,200 tons of lithium carbonate and 173,000 tons of boric acid, annually. Lithium is a key component in batteries used for electric vehicles, power tools, drones and other items. Boron is widely used in the glass industry to strengthen and increase heat resistance for glass cookware, laboratory glassware and glass screens used in mobile phones, tablets and liquid crystal display televisions. Boron is also used in fiberglass, insulation, electronics and as a micronutrient in agriculture. The full notice to proceed on the EPCM phase is expected in 2019 with first production expected in 2021.
|
USAT | Hot Stocks16:20 EDT USA Technologies provides update on Nasdaq notification of deficiency - USA Technologies announced that, as expected, it received a notice from The Nasdaq Stock Market LLC notifying the company that, as a result of its failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2018, the company is noncompliant with Nasdaq Listing Rule 5250c1. The Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The company had previously received an original notice from Nasdaq of noncompliance with the Rule due to the failure of the company to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2018. Pursuant to the Original Notice, the company had submitted to Nasdaq a plan to regain compliance, and on November 13, 2018, Nasdaq notified the company that it had accepted the Plan and had granted the company until March 12, 2019 in order to file the Quarterly Report and the Annual Report with the SEC. The Notice also requires the company to submit to Nasdaq an update to the Plan by no later than December 3, 2018. Neither the Notice nor the Original Notice has any immediate effect on the listing or trading of the company's common stock or preferred stock, and the common stock and preferred stock will continue to trade on the Nasdaq Global Market under the symbols "USAT" and "USATP", respectively.
|
MRCY | Hot Stocks16:18 EDT Mercury Systems gets $6.7M Integrated subsystems order for naval electronics - Mercury Systems announced that it received a $6.7M follow-on order from a leading defense prime contractor for custom-engineered, high-performance subsystems with integrated radio frequency and digital microelectronics for a naval electronic warfare application. The order was booked in the Company's fiscal 2019 first quarter and is expected to be shipped over the next several quarters. The company is a leader in the development and commercialization of EW solutions optimized for ground, sea, and airborne applications. Engineered to reliably operate in the harshest of environmental conditions, Mercury's EW solutions densely integrate both analog and digital technologies using open architecture standards to reduce the risk of schedule of cost overruns while providing an affordable path for upgradeability in the future. "Receiving this order from our valued customer exemplifies Mercury's market-leading position in the design and manufacturing of affordable microelectronics solutions spanning the RF and digital domains," said Neal Austin, Vice President and General Manager of Mercury's Embedded Sensor Processing group. "We are fully committed to supporting the U.S. warfighter with commercial innovations delivering critical electronic warfare information required to make timely and accurate operational decisions."
|
TRI | Hot Stocks16:17 EDT Thomson Reuters receives court approval for return of capital transaction - Thomson Reuters announced that the Ontario Superior Court of Justice issued a final order approving a plan of arrangement to implement the company's proposed return of capital transaction. Yesterday, Thomson Reuters received shareholder approval for the return of capital transaction at a special meeting held in Toronto. The return of capital transaction is one of several ways that the company is returning $10B of proceeds from its recently closed Financial & Risk transaction to its shareholders. The return of capital transaction consists of a distribution of $4.45 in cash per common share, or approximately $2.5B in the aggregate, and a consolidation of the company's outstanding common shares (or reverse stock split) on a basis that is proportional to the cash distribution.
|
STRM WFC | Hot Stocks16:17 EDT Streamline Health extends banking agreement with Wells Fargo into 2020 - Streamline Health Solutions (STRM) announced it extended its banking agreement with Wells Fargo (WFC) into its fiscal year 2020. The original agreement with Wells Fargo was to expire in November of 2019.
|
FL | Hot Stocks16:14 EDT Foot Locker up 11% to $51.25 after Q3 results beat estimates
|
BJ | Hot Stocks16:13 EDT BJ's Wholesale now sees FY18 SSS, ex-gasoline up 1.9%-2.1%
|
FL | Hot Stocks16:13 EDT Foot Locker CFO says 'encouraged' by Q3 SSS growth - "We're encouraged by the second consecutive quarter of comparable sales growth, more full-price selling, and greater than expected gross margin expansion," noted Lauren Peters, Executive Vice President and Chief Financial Officer. "In addition to the improving performance, our strong balance sheet gives us the flexibility to continue investing in the business for the long term, while returning cash to our shareholders."
|
FL | Hot Stocks16:13 EDT Foot Locker reports merchandise inventories $1.305B at November 3 - As of November 3, 2018, the company's merchandise inventories were $1.305B, 0.6% lower than at the end of the third quarter last year. Using constant currencies, inventory increased 0.5%.
|
TWI | Hot Stocks16:13 EDT Titan International receives settlement put option notice - Titan International announced that notice was received from an affiliate of the Russian Direct Investment Fund, or RDIF, one of the three shareholders, of Voltyre-Prom, of its exercise, effective November 14, of the settlement put option with respect to its holdings in Voltyre-Prom, pursuant to the Shareholders' Agreement. The Company, together with affiliates of One Equity Partners and RDIF, owns all of the equity interests in Voltyre-Prom. The settlement put option may be satisfied by Titan with cash or Titan common stock, in amounts set by the Shareholders' Agreement. Depending on the final settlement date, the cash amount is estimated to be in the range of approximately $74.3M-$76.2M and the share amount range is estimated to be approximately 10.172M shares to 10.436M shares.
|
MYL | Hot Stocks16:12 EDT Mylan announces voluntary recall of select lots of Valsartan-containing products - Mylan announced that its U.S. based Mylan Pharmaceuticals business is conducting a voluntary nationwide recall to the consumer level of select lots of Valsartan-containing products, including six lots of Amlodipine and Valsartan Tablets, USP (including the 5mg/160mg, 10mg/160mg, and 10mg/320mg strengths), seven lots of Valsartan Tablets, USP (including 40 mg, 80 mg, 160 mg, and 320 mg strengths), and two lots of Valsartan and Hydrochlorothiazide Tablets, USP 320mg/25mg strength. These products are being recalled due to detected trace amounts of an impurity, N-nitrosodiethylamine contained in the API Valsartan, USP, manufactured by Mylan Laboratories Limited. NDEA is a substance that occurs naturally in certain foods, drinking water, air pollution, and industrial processes, and has been classified as a probable human carcinogen according to the International Agency for Research on Cancer. The finished products are manufactured by Mylan Pharmaceuticals Inc. and Mylan Laboratories Limited. These batches were distributed in the U.S. between March 2017 and November 2018.
|
PLG | Hot Stocks16:12 EDT Platinum Group announces reverse 10:1 stock split - Platinum Group Metals announced a consolidation of its common shares on the basis of one new share for ten old shares effective at 9:00 a.m. New York time on December 13, 2018. The company's consolidated common shares are expected to begin trading on the Toronto Stock Exchange and NYSE American when the markets open on December 17, 2018. The purpose of the consolidation is to increase the company's common share price to be in compliance with the NYSE American's low selling price requirement. Shareholder feedback has been that the company should maintain its listing on the NYSE American.
|
HIFR | Hot Stocks16:10 EDT InfraREIT announces end of "go-shop" period - InfraREIT announced that the 30-day "go-shop" period set forth in its previously announced definitive agreement with Oncor Electric Delivery Company expired on November 17 and also announced that it has received from a third party a preliminary and non-binding acquisition proposal that InfraREIT's Conflicts Committee, after consulting with its financial and legal advisors, has determined is reasonably likely to lead to a "superior proposal" under the definitive agreement with Oncor. The InfraREIT Conflicts Committee has not determined that the Acquisition Proposal in fact constitutes a superior proposal under the definitive agreement with Oncor. The Acquisition Proposal is subject to several conditions, including completion of due diligence, the negotiation of definitive agreements with InfraREIT, Sharyland Utilities and affiliates of Hunt Consolidated as applicable, and the approval of the Potential Counterparty's Board of Directors.
|
FL | Hot Stocks16:10 EDT Foot Locker reports Q3 gross margin 31.6%, up from 31% a year ago
|
ATSG BA | Hot Stocks16:08 EDT Air Transport Services delivers Boeing 767 freighter to SkyTaxi - Air Transport Services Group (ATSG) announced the delivery by its Cargo Aircraft Management subsidiary of a Boeing (BA) 767-200 converted freighter to SkyTaxi of Poland under a seven-year lease. Cargo Aircraft Management also has granted SkyTaxi an option to lease a second Boeing 767-200 freighter for delivery in 2019.
|
SBLK | Hot Stocks16:08 EDT Star Bulk Carriers reports Q3 fleet utilization 98.4% vs. 99.9% last year - Q3 Daily Time Charter Equivalent Rate $14.5K vs. $9.6K last year.
|
NVLN | Hot Stocks16:08 EDT Novelion Therapeutics appoints General Counsel Harshbarger interim CEO - Novelion Therapeutics announced that General Counsel, Benjamin Harshbarger, has been appointed as interim CEO, reporting to Novelion's Executive Chair, Mark Corrigan, M.D., effective immediately. Jeffrey Hackman resigned as interim CEO to pursue another opportunity and will stay with the vompany in a transitional role until November 30. Dr. Corrigan commented, "In the past year, we have made substantial progress in the turnaround of Novelion, and on behalf of the Board of Directors, I'd like to thank Jeff for his dedication to this mission. Importantly, Ben has played a critical role in these initiatives, including the recent loan facility secured by our operating subsidiary, Aegerion Pharmaceuticals, which we believe positions Aegerion to achieve a more comprehensive capital restructuring - our primary near-term goal. Ben is a long-tenured and trusted leader among Novelion's employees, and under his guidance we are well-positioned to continue the positive momentum towards fixing our capital structure and driving growth."
|
ADSK | Hot Stocks16:07 EDT Autodesk to acquire PlanGrid for $875M net of cash - Autodesk has signed a definitive agreement to acquire PlanGrid, a leading provider of construction productivity software, for $875M net of cash. This acquisition will enable Autodesk to offer a more comprehensive, cloud-based construction platform. The transaction is subject to customary closing conditions and is expected to close during Autodesk's fourth quarter of fiscal 2019, ending January 31, 2019. Because the exact timing of the close is unknown, Autodesk has not included any impact in its business outlook for the fourth quarter. However, the company expects it to contribute slightly to revenue and be modestly negative for profitability and cashflows for the quarter. For fiscal year 2020, Autodesk expects PlanGrid to contribute approximately $100M in ARR and be slightly dilutive to profitability and cash flow. Inclusive of the transaction, the company is maintaining its free cash flow goal for the year.
|
HIFS | Hot Stocks16:05 EDT Hingham Institution boosts regular dividend 3%, announces special dividend - Hingham Institution announced that its board has declared a regular quarterly cash dividend of $0.37 per share. This represents an increase of 3% over the previous regular quarterly dividend of $0.36 per share. The dividend will be paid on January 16, 2019 to stockholders of record as of January 7, 2019.n addition to the regular quarterly dividend, the Bank's Board of Directors announced that it will pay a special dividend of $0.50 per share. This special dividend will also be paid on January 16, 2019 to stockholders of record as of January 7, 2019. In November 2017, the Bank declared a special dividend of $0.34 per share. Robert H. Gaughen, Jr., Chairman and Chief Executive Officer of the Bank, in announcing the dividend, stated, "The Bank continues to produce strong returns on equity capital. These returns are the product of conservative underwriting, disciplined cost control, and careful capital allocation. This will be our 100th consecutive quarterly dividend and we have consistently increased regular quarterly cash dividends over the last twenty years. The Bank has also declared a special dividend in each of the last twenty-four years, typically in the fourth quarter and in approximately the same amount as the regular quarterly dividend. Going forward, the Bank will set the level of the special dividend based on the Bank's capital requirements and the return on available allocation options. This may result in special dividends, if any, significantly above or below the regular quarterly dividend. Future regular and special dividends will be considered by the Board of Directors on a quarterly basis."
|
IART | Hot Stocks16:02 EDT Integra LifeSciences announces one of first surgeries with Integra System - Integra LifeSciences Holdings Corporation announced one of the first surgeries with the Integra(R) XT Revision Total Ankle Replacement System. The Integra XT Revision Total Ankle Replacement System is one of the first FDA cleared devices indicated for revision ankle arthroplasty only and can be used to revise any commercially available primary total ankle replacement system. Key implant features include: An augmented posterior sloped talus which addresses subsidence by rebuilding posterior talar height; An anatomic design that mimics the natural kinematics of the ankle, designed to promote a more normal gait and better overall function post-operatively.
|
MPAA | Hot Stocks16:02 EDT Motorcar Parts receives notice from NASDAQ due to delayed filing of form 10-Q - Motorcar Parts of America announced it received a notice from the NASDAQ Stock Market on November 1 indicating that the company is not in compliance with NASDAQ listing rules because its Form 10-Q for its fiscal 2019 second quarter ended September 30, 2018 was not timely filed. The notice, which the company expected, was issued in accordance with standard NASDAQ procedures as a result of the delayed filing. Timely filing of periodic reports is a requirement for continued listing under NASDAQ Marketplace Rule 5250. The delay in filing is due to the company's inability to timely process the financial information for its fiscal 2019 second quarter, which is primarily related to a review of accounting practices associated with the timing of recognizing certain expenses incurred in connection with new business. These expenses are primarily allowances for core inventory purchase obligations at the start of a new business relationship.
|
BPOP | Hot Stocks15:59 EDT Popular appoints Paul Cardillo as Investor Relations Officer - Popular announced the appointment of Mr. Paul J. Cardillo as Investor Relations Officer of Popular. Mr. Cardillo will report to Popular's Chief Financial Officer, Mr. Carlos J. Vazquez. Prior to joining Popular, Mr. Cardillo served as Director and Financial Services Specialist of Equity Sales for Deutsche Bank and prior to that he was Senior Vice President and Financial Services Specialist of Equity Trading for Jefferies LLC. He has also held positions in the finance field at Plia Systems, Sanford C. Bernstein and Lehman Brothers. "We certainly will benefit from Mr. Cardillo's expertise in the financial arena. We welcome him to the team," said Ignacio Alvarez, Chief Executive Officer of Popular.
|
ABC... | Hot Stocks15:59 EDT AmerisourceBergen hits lows after WSJ report on Walgreens, Humana - Shares of AmerisourceBergen (ABC) hit their lows of the day after the Wall Street Journal reported that Walgreens Boots Alliance (WBA) and Humana (HUM) are in preliminary discussions to take equity stakes in each other. In an October interview with Bloomberg, Walgreens CEO Stefano Pessina said an acquisition of AmerisourceBergen was possible. Shares of AmerisourceBergen are down $2.24 to $88.64 going into the close.
|
AMZN | Hot Stocks15:48 EDT Amazon opens AMA kit to to all wireless headphones other wearable devices - Alfred Woo of Amazon Alexa said in a blog posting: "Alexa has become an increasingly natural part of our daily routines. The voice service makes customers' lives more convenient, more productive, and more entertaining. This is especially true in the home, where Alexa got her start through integrations with speakers, appliances, TVs, and other smart devices. We also want to make Alexa available to customers who are on the move, so we're making it easier for device makers to build Alexa into the devices made for on-the-go experiences. Today, Amazon announced the general availability of the Alexa Mobile Accessory Kit. The AMA protocol is the key technology that powers on-the-go Alexa experiences on headphones, headsets, and other Bluetooth devices. With Alexa integrated into their BT device, customers can enjoy convenient access to their favorite Alexa features and capabilities on the go: music, news and information, smart home controls, and tens of thousands of Alexa Skills." Reference Link
|
BAYRY | Hot Stocks15:19 EDT Bayer granted FDA orphan designation for Hemophilia A treatment - Bayer was granted FDA orphan designation for its Hemophilia A treatment, according to a post to the agency's website. Reference Link
|
XENE | Hot Stocks15:16 EDT Xenon granted orphan designation for alternating hemiplegia treatment - Xenon Pharmaceuticals' flunarizine was granted FDA orphan designation as a treatment of alternating hemiplegia, according to a post to the agency's website. Reference Link
|
SCG D | Hot Stocks15:12 EDT Scana higher as Dominion offers alternate deal plan to South Carolina PSC - According to a new filing submitted to the South Carolina Public Service Commission, Dominion Energy (D) is offering additional long-term savings to South Carolina ratepayers in connection with a revised bid to purchase Scana (SCG). The "alternative levelized customer benefits plan" offered by the company "is a further concession, [but] has also been developed in a way that preserves the merger economics of the Customer Benefits Plan so it is possible for Dominion Energy to close the merger," the filing states. In late day trading, Scana shares are up about 0.5% at $43.92 after earlier having risen to over $44 per shares. Reference Link
|
NXRT | Hot Stocks15:06 EDT NexPoint Residential VP Matt McGraner buys over $313K in company shares - NexPoint Residential VP Matt McGraner disclosed in a regulatory filing that he purchased 9,486 shares of the company's stock at an average price of $33 per share on November 16. The total transaction value of the purchase was $313,038
|
CLDX | Hot Stocks14:32 EDT Celldex announces launch of Chase Offers - Cardlytics announced the launch of Chase Offers, a new program for the largest bank in the U.S. Through Chase Offers, customers will receive offers that earn them statement credits on everyday purchases, with targeted digital marketing designed to drive incremental in-store and online sales for merchant partners. The launch of Chase Offers will significantly increase the scale of the Cardlytics Direct native channel just in time for the holiday season.
|
MYL | Hot Stocks14:31 EDT Mylan says has discontinued a number of products from Morgantown site - Mylan commented on a Warning Letter issued by the U.S. Food and Drug Administration on Nov. 9, 2018, relating to its manufacturing facility in Morgantown, West Virginia. This action resulted from previously disclosed observations of the plant made by FDA in April 2018. "As discussed in our second and third quarter earnings calls, we have implemented a comprehensive restructuring and remediation plan at our Morgantown facility. These activities are already reflected in our 2018 outlook, and the issues raised in the Warning Letter are being addressed within the context of this plan. We have been in regular communication with FDA and will continue to work to ensure that the Agency is satisfied with the steps we have taken to resolve all the points raised in the Warning Letter. The Morgantown facility continues to supply products for the U.S. market while we are executing on our commitments to FDA. We did not expect to have any significant new product launches from the site in 2019. As part of the ongoing restructuring and remediation activities, Mylan has proactively discontinued a number of products from the site while also transferring some products to other sites. These actions have led to a temporary disruption in supply of certain Mylan products for customers. We understand that this current and temporary situation puts a burden on our customers and appreciate their ongoing confidence in Mylan. We will continue to work closely with our customers to mitigate any possible supply disruptions and meet the needs of the patients we serve. Mylan is committed to maintaining the highest quality manufacturing standards at all of its facilities around the world. We have an industry-leading track record in global quality management, and we take very seriously our continued and comprehensive oversight of Mylan's entire manufacturing network. We continuously learn from inspections of our facilities by FDA and other authorities as regulatory expectations continue to evolve. In 2018, global health authorities conducted more than 100 regulatory inspections, including 21 FDA inspections, of our nearly 50 other manufacturing facilities around the world without regulatory action or significant observations. When we have received FDA warning letters in the past we have worked comprehensively and closely with FDA to address the issues raised and each of those prior letters was successfully resolved. The November 9 Morgantown letter is the sole outstanding FDA Warning Letter to Mylan. We will apply the same rigor and focus to our work with FDA regarding its observations of our manufacturing facility in Morgantown, which remains an important part of Mylan's global manufacturing network."
|
NAVI | Hot Stocks14:27 EDT Navient down 8% to $11.06 after AP reports of deceptive practices
|
SPCB | Hot Stocks14:20 EDT SuperCom CEO acquires 365,000 ordinary shares - SuperCom announced that its CEO, Arie Trabelsi, has notified the company that he has purchased 365,000 of SuperCom ordinary shares in the open market under his personal purchase program and plans to continue to purchase through this program. "As disclosed in second and third quarter earnings releases, SuperCom is executing effectively against its business plan and has optimized much of its operations to support strong earnings growth," commented Mr. Arie Trabelsi, President and CEO of SuperCom. "I believe the SPCB current stock price levels do not reflect the high intrinsic value of the company and purchasing shares at these prices can provide high ROI. This program provides me the ability to opportunistically acquire more of SuperCom shares and underscores my ongoing belief in the Company," Arie concluded.
|
FSI | Hot Stocks14:11 EDT Flexible Solutions acquires 65% of ENP Investments for $5.11M - In a regulatory filing earlier, Flexible Solutions disclosed that on November 16, 2018 the company acquired 65% of ENP Investments, a manufacturer, distributor and retailer of specialty agriculture products which are used for golf courses, turf and ornamental plants. The purchase price for the 65% interest in ENP was $5.11M and was paid with cash of $4.11M and a convertible note in the principal amount of $1M. The note, at the option of the holder of the note, may be converted into 400,000 shares of the company's common stock. The company will consolidate the financial statements of ENP beginning October 1, 2018.
|
BBY... | Hot Stocks14:06 EDT NY AG says Walmart, Best Buy, Target have made changes to combat gift card fraud - New York Attorney General Barbra Underwood announced an ongoing initiative to protect consumers from gift card fraud. Prompted by a sharp increase in reports of scam artists demanding payment from consumers in the form of gift cards, the Attorney General's office has been working with three major retailers-Best Buy (BBY), Walmart (WMT), and Target (TGT)-on reforms to their nationwide policies and practices to help protect consumers from being victimized. All three retailers have already made significant changes as part of this initiative, which is a joint effort of Attorney General Underwood and Pennsylvania Attorney General Josh Shapiro. Gift card scams have rapidly increased in recent years. The Federal Trade Commission recently found that 26% of scam victims paid with a gift card between January and September 2018, compared to only 7% in 2015 - marking a 270% increase. Some of the changes that Walmart, Best Buy, and Target have recently implemented in partnership with the Attorney General's initiative include: Reducing the total amount that a consumer can purchase in one transaction in store-branded gift cards; Reducing the dollar limit that can be loaded on a store-branded gift card; Placing restrictions on the redemption of store-branded gift cards, including prohibiting the redemption of store-branded gift cards for other gift cards; Enhancing employee training to help employees identify the warning signs of gift card scams and warn potential victims when appropriate.
|
PFIN | Hot Stocks14:05 EDT P&F Industries repurchases 85,791 shares from seller in accretive transaction - P&F Industries announced that effective, November 19, it repurchased 85,791 shares of its common stock from an unaffiliated seller in a privately negotiated transaction for approximately $8.14 per share for total purchase price of approximately $698,000. The purchase price was based on the average closing price over the three days prior to the November 16, date of agreement with the seller. Richard Horowitz, Chairman and CEO of the company, commented, "This transaction, which is in addition to our current 100,000 shares stock repurchase program that began in September 2018, enables us to make use of our capital to acquire a meaningful block of company shares at what we believe is a favorable price. The repurchase should be immediately accretive to earnings per share."
|
NVS | Hot Stocks13:37 EDT FDA warns about severe worsening of MS after stopping use of Novartis' Gilenya - The Food and Drug Administration is warning that when the multiple sclerosis, or MS, medicine Gilenya is stopped, the disease can become much worse than before the medicine was started or while it was being taken. "This MS worsening is rare but can result in permanent disability," the FDA stated. As a result, the FDA has added a new warning about this risk to the prescribing information of the Gilenya drug label and patient Medication Guide. Gilenya is marketed by Novartis. Reference Link
|
PCG | Hot Stocks13:32 EDT PG&E says storm response won't affect continuing Camp Fire restoration work - Pacific Gas and Electric Company, or PG&E, announced that it is readying for the most rainfall since early April across Northern and Central California starting Wednesday and continuing through the Thanksgiving weekend. The company's storm response won't affect PG&E's continuing restoration work in response to the Camp Fire in Butte County, the company stated. As of Sunday, Nov. 18, more than 2,000 PG&E employees and contractors are doing gas and electric restoration work and removing hazardous trees in the fire zone. "PG&E has been preparing for storms such as this for many months. PG&E has a plan, and we want to encourage our customers to have a plan as well," said Michael Lewis, PG&E's vice president of electric distribution operations.
|
KO | Hot Stocks13:17 EDT Moody's downgrades Coca-Cola to A1 after Costa acquisition - Moody's downgraded the senior unsecured long term rating of Coca-Cola to A1 from Aa3 and affirmed the company's Prime-1 short term ratings. These actions conclude the review for downgrade that was initiated on August 31 following the company's announcement that it had agreed to purchase Costa Limited for $5.1B in cash. "The downgrade reflects Moody's view that Coca-Cola has adopted a more aggressive financial policy, and that the system financial leverage will be more consistent with an A1 rating," the agency agency says in a statement. The acquisition "provides diversification into a growing beverage space, but introduces new risks since it operates differently than Coke's core, ready to drink packaged beverage businesses," adds Moody's. "The acquisition follows its August 2018 investment in BodyArmor sports drinks. The two transactions demonstrate the likelihood that cash resources will be used for investment opportunities in addition to debt repayment. Finally Coca-Cola's dividend has grown faster than earnings and remains high, leaving retained cash flow somewhat weak relative to debt."
|
MSI | Hot Stocks12:27 EDT Motorola Solutions wins second patent infringement suit against Hytera Mobilfunk - Motorola Solutions announced the successful outcome of its latest patent infringement lawsuits in Germany against Hytera Communications Corporation of Shenzhen, China and Hytera Mobilfunk GmbH of Bad Munder, Germany. This is the second time this year that a German court has ruled in favor of Motorola Solutions against Hytera Mobilfunk GmbH; importantly it also applies to Hytera's Chinese parent company, Hytera Communications Corporation. These patent lawsuits took place in the Regional Court of Dusseldorf, Germany, which determined that Hytera's two-way Digital Mobile Radio subscriber radios that use what Hytera refers to as the "pseudo-trunking" functionality in TDMA Direct Mode are infringing Motorola Solutions' patent EP 2 342 851 B1. The Regional Court has granted two injunctions against Hytera. The first injunction prevents Hytera from offering the patented method in Germany, and the second injunction prevents Hytera from offering and delivering products capable of performing the patented method in Germany. Additionally, it has held Hytera liable for damages. While the current judgments may be appealed by Hytera, they are immediately enforceable upon posting of a required security by Motorola Solutions, which is expected to be completed in short order.
|
FB | Hot Stocks12:02 EDT Facebook experiencing service issues - Visiting Facebook.com showa a blank page and accessing the Facebook app currently returns the following message: "Can't Connect." Additionally, crowd-sourced service monitoring site "downrightnow" indicated reports of likely Facebook service disruptions. Facebook and Instagram both experienced short disruptions earlier this morning.
|
SDRL | Hot Stocks12:00 EDT Seadrill falls -11.2% - Seadrill is down -11.2%, or -$1.84 to $14.60.
|
EROS | Hot Stocks12:00 EDT Eros International falls -12.4% - Eros International is down -12.4%, or -$1.17 to $8.20.
|
LB | Hot Stocks12:00 EDT L Brands falls -12.5% - L Brands is down -12.5%, or -$4.32 to $30.23.
|
SCO | Hot Stocks12:00 EDT Scor ADR rises 10.9% - Scor ADR is up 10.9%, or $2.31 to $23.48.
|
NOAH | Hot Stocks12:00 EDT Noah Holdings rises 11.3% - Noah Holdings is up 11.3%, or $4.60 to $45.40.
|
DWT | Hot Stocks12:00 EDT Britannia Bulk rises 16.1% - Britannia Bulk is up 16.1%, or $1.65 to $11.90.
|
AAPL... | Hot Stocks11:06 EDT White House asks for comment on possible emerging technology export restrictions - In an advance notice of proposed rulemaking published to the Federal Register, the Department of Commerce's Bureau of Industry and Security asked for public comment on criteria for identifying emerging technologies that are essential to U.S. national security. The representative general categories of technology for which Commerce currently seeks to determine whether there are specific emerging technologies that are essential to the national security of the United States include Biotechnology; Artificial intelligence and machine learning technology; Position, Navigation, and Timing technology; Microprocessor technology; Advanced computing technology; Quantum information and sensing technology; Logistics technology; 3D printing; and Robotics, among others, according to the publication of the request for comments. Reference Link
|
OKTA | Hot Stocks11:03 EDT Okta continues expansion of API gateway partner ecosystem - Okta announced its continued expansion in the API gateway ecosystem, adding NGINX to the Okta Integration Network along with other industry leaders Amazon Web Services, Google Cloud, Kong, MuleSoft, Software AG and Tyk. With these partnerships, Okta can provide API Access Management for many of the API industry's leading gateways, helping organizations secure enterprise data while also enabling developers to focus on building incredible user experiences. "APIs open new business opportunities and revenue streams as organizations transform their infrastructure and connect services, but we've also seen the dangers of poorly managed access controls play out in headlines," said Chuck Fontana, Vice President, Okta Integrations and Strategic Partnerships, Okta. "While APIs offer even more opportunities to get important work done faster, it's not just employees who have access to sensitive company and customer information via these new services: it's also partners and customers. By integrating to and working closely with industry-leading API gateways, we can bolster security for organizations through access controls, ultimately enabling them to tackle the new business and development challenges and opportunities brought on by opening these APIs."
|
AJG | Hot Stocks11:02 EDT Arthur J. Gallagher acquires JP Tech Insurance Services, terms not disclosed - Arthur J. Gallagher & Co. announced the acquisition of Los Angeles, California-based JP Tech Insurance Services, Inc. Terms of the transaction were not disclosed. JP Tech specializes in providing insurance and risk management coverages and services to life science, technology, financial institution, REIT and hedge fund clients around the world. R. Joseph Plascencia and his associates will be relocating to Gallagher's Glendale, California office under the direction of Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations.
|
NURO | Hot Stocks10:53 EDT NeuroMetrix issued new U.S. patent for Quell wearable technology - NeuroMetrix announced that the U.S. Patent and Trademark Office has issued U.S. Patent No. 10,130,810 titled "Transcutaneous electrical nerve stimulation with user gesture detector and electrode-skin contact detector, with transient motion detector for increasing the accuracy of the same." This patent covers our novel technology that enhances Quell device performance for users with an active lifestyle.
|
BBY | Hot Stocks10:31 EDT Best Buy expects calendar shift to have positive impact of approx. 50bps in Q4 - CFO Corie Barry says generated comparable sales growth across multiple domestic categories, with the largest drivers being mobile phones, gaming, appliances, wearables, headphones and smart home. Says positive drivers were partially offset by a decline in the tablet category. Says international revenue increase was primarily driven by comparable sales growth of 3.7%, due to both Canada and Mexico, and sales from six new large-format store locations opened in Mexico in the past year. Says items were partially offset by approximately 460 basis points of negative foreign currency impact. Says "pleased" with health of inventory. Expects to see a flattish gross profit rate in Q4. Expects SG&A dollars to decline in the low-single digits in Q4.
|
NVDA | Hot Stocks10:23 EDT Nvidia turns positive as Citron sees opportunity to buy - Shares of Nvidia, which were trading in negative ground to start the session, have reversed and moved into the green after a tweet from short-selling focused research firm Citron Research. In the tweet, Andrew Left's Citron said: "Citron buys $NVDA. This is the first time in 2 years stock offers an appealing risk-reward to investors. $NVDA still a player in AI and Data..will eat through inventory issue. We see $165 before we see 120." Following the tweet, Nvidia shares are up $3.62, or 2.5%, to $148.32.
|
BBY | Hot Stocks10:21 EDT Best Buy sees opportunities in connected health space - CEO Hubert Joly says strong revenue growth was helped by favorable environment driven by customer response to experiences. Says continues to make significant progress on Best Buy 2020. Says GreatCall is off to a great start. Says excited about opportunities to help aging consumers. Says continues to see encouraging results form Total Tech Support program. Says expanded In-Home Advisor program. Says continuing to invest in customer experience enhancements. Says making it easier for customers to use the Best Buy App to shop online and in store. Says investing in a range of enablers, says tracking according to plan in investments. Says continuing to invest in labor and investing in compensation and benefits of associates. Says excited about holiday plans. Says excited to offer Total Tech Support as a gift item. Says materially upgraded online gift center. Says likes opportunity to offer customers more consultative approach. Says particularly likes opportunities in connected health space. Says estimates $200B in tariffs touches only about 7% of products sold. Says expects tariff impact to be minimal for the year. Says expects trade negotiations with China to progress. Says working to mitigate tariff impact for next year. Comments taken from Q3 earnings conference call.
|
JT | Hot Stocks10:00 EDT Jianpu Technology falls -10.0% - Jianpu Technology is down -10.0%, or -55c to $4.90.
|
DLNG | Hot Stocks10:00 EDT Dynagas LNG falls -12.0% - Dynagas LNG is down -12.0%, or -73c to $5.34.
|
LB | Hot Stocks10:00 EDT L Brands falls -14.4% - L Brands is down -14.4%, or -$4.97 to $29.58.
|
DWT | Hot Stocks10:00 EDT Britannia Bulk rises 6.5% - Britannia Bulk is up 6.5%, or 67c to $10.92.
|
UVXY | Hot Stocks10:00 EDT ProShares Trust Ultra VIX Short Term Futures ETF rises 7.0% - ProShares Trust Ultra VIX Short Term Futures ETF is up 7.0%, or $4.13 to $63.06.
|
NOAH | Hot Stocks10:00 EDT Noah Holdings rises 11.5% - Noah Holdings is up 11.5%, or $4.70 to $45.50.
|
FTEO | Hot Stocks09:50 EDT FRONTEO Inc (ADS) trading resumes
|
LABD | Hot Stocks09:47 EDT Daily S&P Biotech Bear 3x Shares rises 7.8% - Daily S&P Biotech Bear 3x Shares is up 7.8%, or $3.11 to $42.94.
|
DWT | Hot Stocks09:47 EDT Britannia Bulk rises 8.4% - Britannia Bulk is up 8.4%, or 86c to $11.11.
|
UVXY | Hot Stocks09:47 EDT ProShares Trust Ultra VIX Short Term Futures ETF rises 9.2% - ProShares Trust Ultra VIX Short Term Futures ETF is up 9.2%, or $5.42 to $64.35.
|
FTEO | Hot Stocks09:45 EDT FRONTEO Inc (ADS) trading halted, volatility trading pause
|
ASH | Hot Stocks09:41 EDT Cruiser Capital believes Ashland 'worth well in excess of $125 per share' - Cruiser Capital Advisors, the beneficial owner of approximately 2.5% of the shares of Ashland Global Holdings, issued a public letter to the Ashland Board of Directors outlining Cruiser's concerns. The letter read, in part: "As shareholders in Ashland, we are troubled by what we see as the Company's persistent inability to maximize value for shareholders and realize the full potential of Ashland, as reflected in our discussion below. We believe that Ashland is worth well in excess of $125+ per share. We are concerned that rather than execute on the substantial cost savings, revenue growth and margin expansion opportunities that we believe are necessary to maximize Ashland's potential, the Board will take the easiest path available and sell Ashland at a sub-optimal price. Unfortunately, the Company has consistently traded at a discount to its intrinsic value primarily due to long-standing operational issues. Ashland's expenses are disproportionately high with nearly $300M of corporate costs, management has not achieved margin targets that have been in place for over four years, and organic EBITDA growth has been anemic for the past five years. The long-standing nature of the company's operational underperformance is why we have put forth four nominees for Ashland's Board of Directors - Dr. Bill Joyce, Mr. Allen Spizzo, Mr. Pat Gottschalk, and Ms. Carol Eicher. All are accomplished industry veterans with deep expertise in maximizing operational efficiencies and improving work processes. These nominees are aligned with shareholders to see Ashland succeed. This year alone, our nominees have purchased more Ashland common stock than all of Ashland's directors and management team combined. In fact, we believe that no director has purchased common stock in the last 10 years. Beginning in July 2018, Cruiser Capital recommended to Ashland's management team and Board that they speak with Dr. Joyce and Mr. Spizzo. To date, more than five months later no one from management or the Board has spoken to Dr. Joyce or Mr. Spizzo about their perspective on how to improve the company. We recommended that Ashland speak with Dr. Joyce and Mr. Spizzo because we believe these shareholders have valuable insights into how Ashland could both improve operating efficiency, and grow revenues and margins without necessarily firing employees...Since November 2017 we have made several requests to address the Board, all of which you have declined: even after initially agreeing to let us do so. We have told Ashland privately that we have significant concerns about the Company's corporate governance and oversight. We note too that we question the conclusions of the TSR metrics Ashland presented on its recent earnings call and in its most recent press releases. Lastly, we are concerned that the Board's review of highly-qualified director nominees will merely be perfunctory. We plan to address these and other matters directly in the near future. Ashland is now set to receive $1B of net proceeds following the completion of the recently announced sale of Composites and Marl BDO facility, making well-informed Board perspectives on capital allocation decisions critical. In March, the Company authorized a $1B share repurchase. We hope that the Board will not deviate from these plans. The bottom line is this: We believe Ashland deserves more. Great opportunity exists at the Company and the proposed nominees can help elevate Ashland to achieve more value for its shareholders, employees and customers."
|
TKPYY SHPG | Hot Stocks09:36 EDT Takeda receives European Commission clearance for acquisition of Shire - Takeda Pharmaceutical Company Limited (TKPYY) announces that it has received clearance from the European Commission for the proposed acquisition of Shire (SHPG) announced on May 8, 2018. The EC's approval is conditional on Takeda and Shire fulfilling commitments given to the EC in connection with the clearance. Specifically, in relation to the future potential overlap in the area of inflammatory bowel diseases between Takeda's marketed product Entyvio (vedolizumab) and Shire's pipeline compound SHP647, Takeda and Shire have committed to divest the pipeline compound SHP647 and certain associated rights. The divestment of SHP647 and certain associated rights is not a condition to the completion of the Acquisition. SHP647 is an exciting pipeline compound and Takeda expects the asset to attract interest from a number of potential buyers. Takeda remains committed to Entyvio, which has been granted marketing authorization in more than 60 countries and is the cornerstone of Takeda's diverse specialty gastrointestinal portfolio. The Acquisition has now received clearances from the European Commission, the United States Federal Trade Commission, the Japan Fair Trade Commission, the State Administration for Market Regulation in China and the Brazilian Administrative Council for Economic Defense, among other regulatory authorities.
|
GNUS | Hot Stocks09:32 EDT Genius Brands CEO says 'could not be more excited' about Rainbow Rangers - Genius Brands released a letter to shareholders from Chairman and CEO Andy Heyward, which stated in part: "Last week on Monday, November 5, Genius Brands' new animated series Rainbow Rangers began broadcasting on Nickelodeon's preschool channel Nick Jr...I am ecstatic to report that we have now received ratings from the first week of broadcast. They are the earliest indicators of Rainbow Rangers' success, and they have been very, very strong. We have verified these with Shelly Hirsch, CEO of Beacon Media, the largest advertising buyer in the kid's business, and based on them for the first week, Rainbow Rangers showed a number of very strong metrics...In what has been a declining market, Rainbow Rangers increased Nick Jr's season average by 15%, and additionally, it outperformed Nick Jr's prior premiere week programming by 21%...We are starting to get a picture of an emerging hit...As far as the launch of Rainbow Rangers, we could not possible be more excited. Standby, and we will continue to report on viewership and ratings as we come closer to product launching into the marketplace."
|
SHPG TKPYY | Hot Stocks09:30 EDT European Commission approves Takeda acquisition of Shire on divestment condition - The European Commission has approved under the EU Merger Regulation the acquisition of Shire (SHPG) by Takeda Pharmaceutical Company (TKPPY). The decision is conditional on the divestment of a biologic treatment product under development by Shire to treat inflammatory bowel disease. The Commission said, "The Commission was concerned that the takeover, as originally notified, would lead to a loss of innovation and a reduction in potential future competition. In particular, the Commission's market investigation found that Takeda would be unlikely to continue developing Shire's new anti-integrin treatment. This would have meant a serious loss of innovation on a market where patients currently have few treatment options available to them. It would have also prevented a product from reaching the market that could compete with Entyvio and reduce prices for this type of biologic treatment. To address the Commission's competition concerns, Takeda offered to divest Shire's pipeline product that is expected to compete with Entyvio, including the rights to its development, manufacturing and marketing, to a purchaser that would have an incentive to develop the drug. The commitments thus fully remove the overlap between Takeda's and Shire's activities on the market where the Commission had identified competition concerns. Therefore, the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The decision is conditional upon full compliance with the commitments." Reference Link
|
EARS | Hot Stocks09:30 EDT Auris Medical announces results of pre-IND meeting with FDA for AM-201 - Auris Medical announced the results of its pre-investigational new drug, or pre-IND, meeting with the FDA, where the FDA addressed the company's questions and provided guidance on its AM-201 program with intranasal betahistine for the prevention of olanzapine-induced weight gain. In its written response, the FDA supported the planned conduct of a multiple dose Phase 1 trial with AM-201 administered to healthy subjects in combination with olanzapine to evaluate the pharmacokinetics, pharmacodynamics and safety, and to establish proof-of-concept. Further, the FDA endorsed weight gain normalized to baseline body weight versus placebo as reasonable primary efficacy endpoint for a subsequent Phase 2 trial. The Agency deemed the 505 pathway appropriate for the AM-201 program as the company intends to rely on part of its future submission dossier on existing data from other parties and sources.
|
GNUS | Hot Stocks09:24 EDT Genius Brands CEO Andy Heyward issues letter to shareholders - Genius Brands released a letter to shareholders from chairman & CEO Andy Heyward. The letter said, "Yesterday morning we held a conference call to discuss the early ratings performance of Rainbow Rangers on Nickelodeon and the transformational impact we foresee it having on the revenues and earnings of Genius Brands International. There is nothing more important on our immediate agenda. Before doing so, we took a moment to share some highlights from our recently released 10Q statement, which went out last Wednesday November 14 for the Q3 period ending September 30, 2018. Revenues for the three-month period increased 103% to $523,175, versus the same period in 2017. Licensing revenues increased by $116,245 due to advances for both Llama Llama and Rainbow Rangers during this period. Kid Genius Network broadcasting revenues increased by $108,619 due largely to increased revenues from Twitch and Amazon Prime subscribers beginning to grow. Home Entertainment revenues went up by $41,516 due to the Llama Llama delivery to our home entertainment partner NCircle. Total expense during the period increased by $353,951 largely due to ramped up production, and that ramp up of production will continue as we have already been contracted with Netflix to do a second season of Llama Llama and additionally, our expectation to shortly begin a second season of Rainbow Rangers. More details across all areas are in the 10Q, but there is a now a trend emerging of a company with growing revenues across all of its key sectors. Having said the above, without further ado, I want to get to Rainbow Rangers. Last week on Monday, November 5, Genius Brands' new animated series Rainbow Rangers began broadcasting on Nickelodeon's preschool channel Nick Jr. It has been the culmination of four years of work, which began with key retailers telling us they foresaw both a vacuum and an opportunity in girl's preschool products in 2019. As many of our investors know, we went about recruiting a unique team of the strongest creators in the kid's entertainment industry. They included the director of Disney's Lion King, the co-writer of Disney's Frozen, and the character designer of virtually every Disney character from The Little Mermaid through Frozen. Alongside them, we built the best animation team I have been a part of in my three decades in this business, having produced over 5,000 half hours of Emmy and award-winning animation, which has included numerous billion-dollar brands such as Strawberry Shortcake, Care Bears, Alvin and the Chipmunks, Hello Kitty, Inspector Gadget, Super Mario Brothers, Sonic the Hedgehog, Ghostbusters, and others. The Rainbow Rangers' team includes the most accomplished writers, musicians, voice artists and animators. We presented the series to Nickelodeon and were fortunate that they licensed it, and subsequently, upon seeing scripts and first episodes, they placed it in their coveted 3pm Monday through Friday timeslot on Nick Jr. Through the efforts of our licensing team, led by SVP of Global Licensing Lloyd Mintz, who was the former head of consumer products licensing for Hasbro Toys, and prior to that part of the licensing unit of the Walt Disney Company, we secured an exceptional lineup of consumer product manufacturers, recognized as the tiffany licensees in the industry, almost all of whom are 1st tier Disney licensees and the leaders in their respective category. Beginning in July and August in 2019, we will launch the U.S. retail program for Rainbow Rangers with over 300 branded products debuting across all categories of kid's consumer products. Master Toy partner Mattel will premiere a range of toys, including collectible dolls, 3-inch dolls, 6-inch dolls, traditional fashion dolls, role play items, and a playset. Other product categories from the roster of blue-chip partners include apparel, publishing, sleepwear, bedding and bath, footwear, bags and backpacks, Halloween costumes and accessories, youth consumer electronics, health and beauty aids, cosmetics, bicycles and ride-ons, and a Rainbow Rangers live touring show from the Gershwin Company, producers of the Charlie Brown touring show and the Sesame Street touring show. I am ecstatic to report that we have now received ratings from the first week of broadcast. They are the earliest indicators of Rainbow Rangers' success, and they have been very, very strong. We have verified these with Shelly Hirsch, CEO of Beacon Media, the largest advertising buyer in the kid's business, and based on them for the first week, Rainbow Rangers showed a number of very strong metrics. The first and most important metric looked for is whether a show is able to retain the audience of its lead-in show. In our case, the lead-in show is Shimmer and Shine, an established Nickelodeon franchise playing in the 2:30-3pm time slot. Based on Nielsen ratings for the week of Monday, November 5 - Monday, November 11, Rainbow Rangers retained and grew its audience from its lead in show, against all demos, all genders, and on all days of its first week of broadcast. Separately, the margin by which Rainbow Rangers grew its audience from its lead in, increased daily. By Friday, Rainbow Rangers had showed 153% growth coming out of its lead-in show, against its key target demo of Girls 2-5. In what has been a declining market, Rainbow Rangers increased Nick Jr's season average by 15%, and additionally, it outperformed Nick Jr's prior premiere week programming by 21%. This was all the more impressive, in light of the fact that Tuesday was an election day and kid's viewing was down overall that day because an inordinate amount of adult viewing occurred watching election coverage. Wednesday kid's numbers bounced back and continued to grow the rest of the week. After reviewing data from the first two days of broadcast on Nick Jr., Nickelodeon informed us they had added encore plays of Rainbow Rangers on Sat 11/10 at 6:30p (lead-in Bubble Guppies) and Sun 11/11 at 7:30p (lead-in Shimmer and Shine) to build further awareness for the show, and sample it in new timeslots, alongside various shows. Paw Patrol is the juggernaut on the Nick schedule, and while we did not beat Paw Patrol for the weekly average, I should point out that it is a boy's property, not a girl's one, and has an audience curated over a five-year history, and had 41 broadcasts on Nick Jr. over the week versus the seven for Rainbow Rangers. Paw Patrol is a 'mission based' show with a number of creative similarities to Rainbow Rangers, and in fact, Rainbow Rangers is now frequently referred to by the licensing community, as the "Paw Patrol for girls". The comparison is flattering indeed. Paw Patrol is a franchise whose toys and consumer products did over $1 billion-dollars of sales this last year and have propelled its owners, SpinMaster toys to a $5 billion-dollar market cap. As Paw Patrol becomes a 'mature property and is now peaking, we believe that Rainbow Rangers is positioned to become the next big hit. The Rainbow Rangers trend line is strong. Especially so for a show in its 1st week. The momentum of growth through the week is a very positive sign. The kids are sampling--they like the show--and they are coming back greater each day. And, just as Paw Patrol indexed inordinately high with girls, Rainbow Rangers is indexing inordinately high for boys, both 2-5 and 6-11. What does all this mean??? We are starting to get a picture of an emerging hit. What is the importance of this to Genius Brands, our revenues, our earnings, and ultimately our stock price? It is the basic connection between viewership and consumer products. A kid's show, which draws viewers, also sells licensed consumer products to kids. Years of industry experience indicates that a hit show typically sells a lot of consumer products. As I said, Paw Patrol sells over a billion dollars a year of product now and has turned SpinMaster from a small toy company into a $5 billion-dollar market cap enterprise, in a relatively short time. At Genius Brands, we have meticulously curated the very best licensees in the industry place. Starting as I said, with Mattel Toys to every possible category of kid's product. Over 300 SKUs are poised and standing ready to be introduced into the marketplace in Q3, 2019. We continue to sign new licensees and expand the various product offerings. The average royalty across all our product licenses is 10%, which means, that the company is paid a 10% royalty on all wholesale sales. I underscore this is without inventory risk, without manufacturing or marketing costs, or costs of any kind associated with the products. I should add on a personal note that, those of us inside Genius Brands who have worked on Rainbow Rangers now for the better part of four years from conception to marketplace, take pride that we also have a property ,which is not only showing the signs of a looming commercial success, but one grounded in positive values and positive story telling for kids. Rainbow Rangers follows the adventures of seven strong, diverse, girls with different powers, who use those powers to save the planet and its animals. The messaging is as positive as the nascent ratings success. Both of these will inure to the commercial success and the impact on our company's revenues and earnings. It would be harder to deliver better news at this point. As weekly ratings continue to come in, we will continue to share them with our shareholders. Lastly, we also spoke a little about the untimely passing last week, of the great Stan Lee, creator (and/or co-creator) of Spider Man, Iron Man, the Incredible Hulk, X Men, Fantastic 4, the Avengers, Captain America, and so many more. People have reached out to ask how this will affect us at Genius Brands, knowing we have a joint venture with Stan called Stan Lee Comics, and together, with Stan's company POW! Entertainment, we created half a dozen original Stan Lee properties. These properties are managed by Genius Brands now, which together with his company, and we own them jointly, 50/50. Each property has Stan Lee's unique fingerprint, as the creator. They already exist now and are in our Genius Brands' 'vault'. In one property particular, Stan Lee's Cosmic Crusaders, he plays himself in animation, and it is the only Stan Lee property in which he actually plays a role as himself. Fortunately, Stan had already recorded the voices of his character, prior to his passing. So, with the sadness of Stan Lee's passing, I can proudly state that his legacy will live on with his latest creations, which now Genius Brands will bring in to the marketplace. We are blessed to have worked so closely with him, and now having these properties, is like having suddenly discovered 6 songs written by John Lennon that had never been brought to the marketplace. They are valuable assets, and at Genius Brands, we are fortunate to now be the steward of this precious original Stan Lee Intellectual Property. Genius Brands will diligently roll these into the marketplace, and we believe they will bring continuing value to the company as they are broadcast and exploited across all media and consumer licensing. A number of broadcasters and filmmakers have already contacted us, and we look forward to bringing them to life. As far as the launch of Rainbow Rangers, we could not possible be more excited. Standby, and we will continue to report on viewership and ratings as we come closer to product launching into the marketplace."
|
ORIT | Hot Stocks09:17 EDT Oritani Financial announces 15c special dividend - Oritani Financial announced that its board has declared a special cash dividend of 15c per share on the company's common stock. The record date for the dividend will be December 7 and the payment date will be December 21.
|
EB | Hot Stocks09:11 EDT Eventbrite appoints Deborah Sharkey CCO, Crystal Valentine CDSO - Eventbrite announced the addition of two hires to its leadership team. Deborah Sharkey has been appointed as CCO and Crystal Valentine will join the company as CDSO. As CCO, Deborah will drive the company's global go-to-market strategy and expansion efforts in addition to leading the sales and account management teams, sales enablement and regional marketing strategy worldwide. Deborah brings nearly two decades of leadership in consumer internet companies and a proven track record for scaling marketplace and e-commerce businesses across multiple geographies. Most recently, she was COO at DogVacay, a pet services marketplace, where she led the product, marketing, operations and engineering teams in addition to sitting on the company's board of directors. As CDSO, Crystal will oversee all technical and operational aspects of data within the company. This will include leading a global team of data scientists, architects and analysts to augment the Eventbrite platform with new functionality to empower event creators, while simplifying the consumer experience. She will also partner with key stakeholders across the organization to guide the company's product roadmap through data-driven decision-making. She worked at Ab Initio Software where she consulted with Fortune 500 companies to design and implement enterprise applications, and has also consulted extensively with equity investors focused on technology. Most recently, she served as VP of technology strategy at MapR Technologies.
|
TPNL | Hot Stocks09:05 EDT 3PEA International appoints Dana Barciz as Chief Marketing Officer - 3PEA International named Dana Barciz Chief Marketing Officer. Most recently Barciz served as Senior Product Marketing Manager - Digital Channels & Electronic Payments at Fiserv from December 2014 to October 2018.
|
GE | Hot Stocks09:04 EDT Dragos, GE launch collaboration to strengthen industrial control systems - Dragos announced its collaboration with General Electric to strengthen industrial threat detection and response. Together Dragos and GE will leverage their respective expertise to help ICS owners and operators detect and respond to industrial cyber security threats more effectively. The industrial asset owner and operator community has limited visibility into ICS cyber threats and often lacks experience to effectively detect and respond to cyber threats. Utilizing Dragos' industrial threat detection and response technology and GE's extensive experience with industrial operations, ICS owners and operators will gain comprehensive insight into the ICS threat landscape. This includes collaborative ICS threat research for greater visibility of the threat landscape; jointly-developed content for comprehensive guidance for ICS defenders; and the integration of GE's technology with the Dragos ICS threat detection and response platform for broader threat detection.
|
FIVN | Hot Stocks09:04 EDT Five9 selected bu gaming manufacturer to meet compliance contact center - Five9 announced that it has been selected by a leading gaming industry manufacturer to replace their on-premise contact center with a scalable cloud-based solution that increases flexibility while meeting industry compliance needs. Manufacturers in the gaming industry are highly regulated and these regulations extend to their contact center services. The gaming manufacturer had been using an on-premise contact center solution for their agents; but found that they did not have the flexibility or call recording capabilities they needed. Additionally, they needed a strong integration with Salesforce's customer relationship management platform. Gaming regulations prohibit customers from calling technicians directly. So, the manufacturer needed a solution that could direct calls funneled through the contact center to a mobile solution for technicians in the field. Five9 demonstrated in one meeting how its cloud contact center solution could meet all of the manufacturer's requirements, as well as integrate strongly with Salesforce. The manufacturer chose Five9 and implemented the platform within six weeks. As a result, they plan to expand Five9 to their contact centers globally.
|
LC | Hot Stocks09:03 EDT LendingClub issued over $1B in CLub certificates sin launch - LendingClub has issued over $1B in CLUB Certificates since their launch less than a year ago. This structure consists of whole loans structured as a pass-through security. The instrument trades in the over-the-counter market with a CUSIP and is cleared through the Depository Trust and Clearing Company.
|
LOW... | Hot Stocks09:03 EDT Fly Intel: Pre-market Movers - HIGHER: Office Depot (ODP), up 2% after authorizing new $100M stock repurchase program. UP AFTER EARNINGS: Pure Storage (PSTG), up 4%... Campbell's Soup (CPB), up 4%... Analog Devices (ADI), up 1%... Urban Outfitters (URBN), up 1%. DOWN AFTER EARNINGS: Kohl's (KSS), down 11%... Best Buy (BBY), down 2%... Lowe's (LOW), down 7%... Target (TGT), down 11%... L Brands (LB), down 11%. ALSO LOWER: Micron (MU), down 7% after Baird analyst Tristan Gerra downgraded the stock two notches, to Underperform from Outperform, as he now models eight consecutive quarters of gross margin and EPS contraction given the continued deterioration in both DRAM and NAND memory pricing.
|
AMZN | Hot Stocks09:02 EDT Amazon Web Services, Pac-12 Conference extend strategic relationship - Amazon Web Services announced that the Pac-12 Conference has extended its strategic relationship with AWS, going all-in on the world's leading cloud and selecting AWS as its standard for machine learning and media workloads. Pac-12 leverages AWS's industry-leading services for a wide variety of production use cases, including its website, mobile applications, and live television networks, to transform the collegiate sports experience for its millions of fans. As a key part of its all-in migration, Pac-12 will move business-critical databases to Amazon Aurora to gain the speed and availability of a commercial database with the simplicity and cost effectiveness of open source. AWS analytics, machine learning, and digital media services enable Pac-12 to innovate and develop new cloud-based solutions that can anticipate and exceed fans' media and entertainment needs. For instance, Pac-12 runs its advanced media infrastructure on AWS using Amazon Simple Storage Service, AWS Elemental MediaLive, and AWS Elemental MediaPackage to bring personalized, broadcast-grade games to a broader audience on any device. Pac-12 is quickly setting up new production workflows at scale on AWS for live-to-video-on-demand content and over-the-top streaming to provide more personalized viewing experiences for collegiate sports fans. In addition, Pac-12 will use AWS machine learning services such as Amazon SageMaker to automate core content workflows-building, training, and deploying models that capture gameplay and highlight clips, and deliver closed captioning for broadcasters in real time.
|
MDT | Hot Stocks09:02 EDT Medtronic says 'more excited than ever' on product pipeline - Says expects underlying growth from recent quarters to continue into 2H19. Says focus on free cash flow growth 'highly sustainable." Says "committed" to margin expansion. Says sees FX neutral for FY.
|
CRNT | Hot Stocks09:02 EDT Zurich Technology Solutions announces agreement with Ceragon Networks - Zurich Technology Solutions announced a Premier Value-Added Reseller agreement with Ceragon Networks. The agreement further enriches Zurich's 5G capabilities and product portfolio and cements Zurich's position as a top provider in 5G transformation services in the US and abroad.
|
MITK | Hot Stocks08:52 EDT Elliott expresses concern over Mitek's refusal to engage with ASG Technologies - Elliott Management Corporation, which manages funds that collectively have made a substantial investment in the common stock and economic equivalents of Mitek Systems, making Elliott one of Mitek's largest investors, wrote a letter to the Mitek Board of Directors. The letter read in part, "We are writing today to express our deep concern regarding your refusal to engage with ASG Technologies Group, our portfolio company which has expressed serious interest in doing a take-private transaction with Mitek. Contrary to Chairman Bruce Hansen's assertions made in the Company's November 5 press release, ASG's $10 per share offer represents a substantial premium to Mitek's unaffected closing price on October 9, 2018. Even putting aside the attractiveness of this premium, we are troubled by Mitek's refusal to engage with ASG and allow it access to diligence materials with the aim of negotiating a final, binding bid for the Company. Instead, Mr. Hansen stated in the release that the Board has confidence in the Company's "current strategy," despite the many flaws and risks inherent in that strategy and despite the Company's lack at that time of a CEO or CFO. We believe the Company's current, standalone path subjects shareholders to unnecessary risk and is unlikely to deliver risk-adjusted upside to shareholders in excess of $10 per share. Mitek's stock price has not closed at or above $10 in the last year, and has only traded at or above $10 for a brief period between July and September 2017. Also, as noted in ASG's October 31 letter, Mitek's stock has meaningfully underperformed all relevant benchmarks over the past 1, 2, and 5-year periods. Profit margins have deteriorated significantly. Approximately two-thirds of Mitek's revenue is tied to a secularly challenged market, and we believe its efforts to diversify into the faster-growing market of identity verification are fraught with risk due to intense competition and Mitek's lack of scale. The Company's recent announcement that it has hired a new CEO does not detract from the strangeness of the Board's prior endorsement of a "strategy" with no management team in place to execute it. Instead, the timing of this announcement just raises new questions, given that the Board is supposed to set strategy in conjunction with management - e.g., was the new CEO's willingness to rubber-stamp the Company's existing, risky standalone strategy a condition of his hiring? In contrast to this risky and questionable standalone path, we believe engagement with ASG offers a path to certain, premium value for shareholders today. Failure to pursue this opportunity is likely to expose Mitek shareholders to additional downside risk due to the fact that the market expects Mitek's Board to engage with ASG and is pricing in the likelihood of a value-maximizing transaction. On October 10, the day of the publication of news reports regarding ASG's acquisition interest, Mitek's stock price increased by 17%. Similarly, on October 31, the day ASG released its proposal to acquire Mitek to the public, the stock price increased by 14%. Meanwhile, on November 2, the day after Mitek released its Q4 earnings and provided fiscal year 2019 guidance, the stock price only increased by 3%. We believe this pattern shows that the recent increase in Mitek's stock price has been almost exclusively driven by M&A speculation, and in the absence of a transaction, we believe Mitek's shares would undoubtedly fall back to a similar range where they were trading prior to these extraordinary events...Instead of change, however, the Board has pursued a path of entrenchment, most notably through the recent adoption of a "poison pill," which prompted an 8% decline in Mitek's stock price over the three trading days following its adoption. Mitek's attempts to disguise this poison pill as a tax-asset-protection plan are thoroughly unconvincing. As of June 30, 2018, the Company's deferred tax assets were less than $15 million. We would expect that the application of Section 382 would not have a material impact on Mitek's ability to utilize these deferred tax assets. Mitek's true rationale for adopting this poison pill - old-fashioned entrenchment - is demonstrated by the Company's use of an amorphous and far-reaching definition of beneficial ownership that extends well beyond the requirements of the Internal Revenue Code. Therefore, we are sending a waiver request letter to the Board in the form of Exhibit A requesting relief from the poison pill recently enacted so that we may acquire "Beneficial Ownership" of up to 14.9%...We believe Mitek will face considerable downside risks in the market ahead. It is the responsibility of the Board to focus its attention on maximizing value rather than entrenching itself. We believe that ASG's offer is worthy of immediate engagement, and we know from feedback we have received that our fellow shareholders share that view. We ask that you engage with ASG immediately for the benefit of all Mitek shareholders."
|
TGT | Hot Stocks08:50 EDT Target says no update on tariff front, continues to watch issue 'carefully'
|
TGT | Hot Stocks08:46 EDT Target CEO 'very excited' about 2019, 2020 given reception to store remodels - Target CEO Brian Cornell continues to answer analyst questions during the Q&A segment of the company's Q3 earnings call.
|
PRSP | Hot Stocks08:46 EDT Perspecta awarded $89.5M task order by Centers for Medicare & Medicaid - Perspecta announced that it has been awarded a five-year task order on the Centers for Medicare & Medicaid, or CMS, Strategic Partners Acquisition Readiness Contract, or SPARC, contract vehicle to provide application services for Medicare Part B claims processing. The contract has a one year base plus four one-year renewal options and a maximum ceiling value of $89.5M if all options are exercised.
|
ITRI | Hot Stocks08:46 EDT Itron signs contract with Conelectricas R.L. - Itron has signed a contract with Conelectricas R.L. in partnership with iTECNA, Itron's certified partner in Costa Rica. Conelectricas R.L. is a group comprised of four electricity cooperatives in Costa Rica, targeting operations improvement where they operate. The cooperatives will deploy Itron's OpenWay Riva IoT solution, including nearly 250,000 smart meters, over the next five years.
|
TGT | Hot Stocks08:45 EDT Target says Q3 inventory levels impacted by early Thanksgiving date
|
CPST | Hot Stocks08:43 EDT Capstone Turbine announces follow-on order from Mr. Natural Production - Capstone Turbine announced that Mr. Natural Production has placed a follow-on order for one of their California indoor grow operations through Cal Microturbine, Capstone's California distributor. The order includes three additional 65 kilowatt, or kW, units, absorption chillers and hot water recovery systems that increase available power to the facility by up to 180kWs net, with the exhaust energy providing up to 60 refrigeration tons, or RTs, of cooling and 400,000 British Thermal Units per Hour, or BTU/HR, of hot water for space cooling, dehumidification and heating. These units are in addition to Mr. Natural's first purchase which has been powering the facility for over 18 months. Capstone's clean and efficient microturbines will be coupled to chillers and hot water heat recovery units to provide power, cooling, and humidity control to the operation. Mr. Natural Production uses a symbiotic, harmonic, and sustainable production process. In addition to their organic soil process, low-energy lighting systems and low water-waste grow practices, the Capstone unit's high overall efficiency further reduces the operation's environmental footprint while providing significant operational savings versus purchasing power from the utility.
|
TGT | Hot Stocks08:38 EDT Target CEO says 'in very early stages' of supply chain transformation
|
PAYC | Hot Stocks08:37 EDT Paycom announces $150M stock repurchase plan - Paycom Software announced that its Board of Directors has authorized a stock repurchase plan under which up to $150M is available to purchase shares of Paycom's outstanding common stock over the next two years. Since May 2016 Paycom's Board of Directors has now authorized the repurchase of up to $425M of common stock.
|
TPNL | Hot Stocks08:36 EDT 3PEA International appoints Egon Kardum as Chief Information Officer - 3PEA International (TPNL) has named Egon Kardum as Chief Information Officer. Kardum spent the last 18 years at Bristol-Myers Squibb (BMY) enabling the company's digital transformation for the Commercial, Corporate and R&D organizational units.
|
EGLE | Hot Stocks08:35 EDT Eagle Bulk Shipping expands fleet scrubber initiative - Eagle Bulk Shipping announced that is has exercised its options to purchase 15 additional exhaust gas cleaning systems which are to be retrofitted on vessels within its fleet. This follows the company's prior announcement that it had entered into a series of agreements for the purchase of up to 37 scrubbers, comprised of firm orders for 19 scrubbers and up to 18 additional units, at the company's option. The company intends to complete the 34 scrubber installations by January 1, 2020, the implementation date of the new sulphur emission cap regulation, as set forth by the International Maritime Organization. As previously disclosed, Eagle Bulk, in partnership with a global engineering firm, has developed a scrubber installation program whereby a significant amount of the required retrofit work will be carried out onboard the vessels while at sea and trading, thereby reducing off-hire time as compared with a typical shipyard installation. Following the announcement, Eagle Bulk maintains options to purchase up to three additional scrubbers.
|
OSIS | Hot Stocks08:34 EDT OSI Systems awarded $16M contract to provide service, maintenance support - OSI Systems announced that its Security division was awarded a contract for approximately $16M to provide comprehensive service and maintenance support for Rapiscan checkpoint inspection systems.
|
FNKO FL | Hot Stocks08:33 EDT Funko partners with Foot Locker for NBA Pop! line - Funko (FNKO) announced that it is now selling Pop! NBA figurines at Foot Locker (FL). The Pop! players available include James Harden, Joel Embiid, Giannis Antetokounmpo, Kristaps Porzingis, and LeBron James, in an exclusive Los Angeles Lakers gold icon edition jersey. Foot Locker will sell the NBA Pop! line at approximately 60 locations throughout the U.S., as part of its new Pop by Foot Locker product offering, which brings pop culture to retail through curated product collaborations.
|
HEAR | Hot Stocks08:33 EDT Turtle Beach announces partnership with Redbox - Turtle Beach announced a new partnership with Redbox offering free game rentals with the purchase of any new Turtle Beach gaming headset. Beginning today through January 31, 2019, fans who purchase a headset from turtlebeach.com will receive a code giving them Five Free One-Night Game Rentals from Redbox. Gamers can use the Redbox codes starting Friday, Nov. 23, 2019, giving them the opportunity to experience even more of the latest games on Xbox One and PlayStation4.
|
SPTN | Hot Stocks08:33 EDT SpartanNash to acquire Martin's Super Markets - SpartanNash announced it has reached an agreement to acquire Martin's Super Markets, a family-owned and operated Midwest independent supermarket chain, in a transaction that will expand its corporate retail footprint into the adjacent markets of northern Indiana and southwestern Michigan. Martin's currently operates 21 stores in Northern Indiana and Southwest Michigan with approximately 3,500 employees. For the fiscal year ended July 29, 2018, Martin's had more than $450M in net sales. The transaction is expected to close early in the first quarter of the fiscal year ending December 28, 2019.
|
LIVN | Hot Stocks08:32 EDT LivaNova says CMS proposes to expand Medicare coverage for VNS Therapy for TRD - LivaNova commented on the U.S. Centers for Medicare & Medicaid Services Proposed Decision Memo regarding its National Coverage Determination, or NCD, for the LivaNova Vagus Nerve Stimulation Therapy System for Treatment-Resistant Depression, or TRD. Within the Proposed Decision Memo, CMS proposes to change the NCD for VNS Therapy for TRD to expand Medicare coverage. CMS could initiate coverage for Medicare beneficiaries through Coverage with Evidence Development when offered in a CMS-approved, double-blind, randomized, placebo-controlled trial with a follow-up duration of at least one year, with the possibility of extending the study to a prospective longitudinal study. The company said: "LivaNova intends to commence a clinical study that meets these requirements, once the NCD decision is finalized by CMS on or before Feb. 17, 2019. LivaNova remains committed to providing additional treatment options for patients with depression and finds the Proposed Decision Memo from CMS to be a positive step toward increased access to important therapies for these patients. Over the last decade, a significant body of new evidence has emerged showing that the addition of VNS Therapy is effective in reducing symptoms in patients with chronic or recurrent depression. With the release of its Proposed Decision Memo, CMS opened a 30-day public comment period...LivaNova looks forward to the final decision from CMS regarding Medicare coverage of VNS Therapy for TRD. This would be a positive outcome for patients and physicians."
|
TBPH | Hot Stocks08:32 EDT Theravance Biopharma doses first patient in Phase 2 clinical trial of TD-1473 - Theravance Biopharma announced dosing of the first patient in a Phase 2 clinical trial of TD-1473 in patients with Crohn's disease. TD-1473 is a novel, potent, orally administered and gut-selective pan-Janus kinase, or JAK, inhibitor in development as a treatment for multiple inflammatory intestinal diseases. In contrast to other oral JAK inhibitors under development for inflammatory bowel disease, TD-1473 is specifically designed to act locally at the site of inflammation in the intestinal wall with minimal systemic exposure. The Phase 2 study is a multi-center, randomized, double-blind, placebo-controlled, parallel-group study designed to evaluate the efficacy, safety and tolerability of TD-1473 in approximately 160 patients with moderately to severely active Crohn's disease.
|
MDT | Hot Stocks08:26 EDT Medtronic says 'highly focused' on improving free cash flow - Says continues to execute well in emerging markets. Says expanding margins and investing more in R&D. Says expects tax rate for remainder of year to be approximately 15%. Says 'comfortable' with achieving higher end of FY19 organic revenue growth guidance. Says expects to deliver FY19 operating margin improvement of 50 bps. Comments from Q2 earnings conference call.
|
TGT | Hot Stocks08:22 EDT Target CEO says no 2019 guidance, 'optimistic' about profitable growth next year - Target CEO Brian Cornell said on the company's Q3 call that "because of the depth of our resources, our business is thriving even as we transform our business," adding that he believes that this year will establish a stable benchmark for its operating margin rate over the longer term. Cornell added: "So while we are not providing 2019 financial guidance on the call today, I will say that we are optimistic about our ability to deliver profitable growth next year and beyond. We've annualized the meaningful investments in operating income we made throughout 2017, and we're poised to benefit from far greater scale across all of our initiatives."
|
TGT | Hot Stocks08:17 EDT Target CEO says healthy cash flows, balance sheet allow for needed investments - Target CEO Brian Cornell said on the company's Q3 call that Target is benefiting from "healthy traffic and sales growth" in stores along with digital channel sales that "continue to grow rapidly." Cornell said he believes the impact of all of the strategic initiatives the company is pursuing "together is well beyond the sum of the parts." As other retailers continue to close stores and liquidate, the company's investment position Target to capture sales and market share, Cornell added. The CEO added: "Now we've been clear that all of our efforts to grow and transform Target involve a commitment of resources, which explains why I've already used the word investment five times in these remarks. And it's also why we're fortunate that sound operations, healthy cash flows and a balance sheet provide the necessary flexibility to invest in our future."
|
TOWR | Hot Stocks08:11 EDT Tower International trading resumes
|
CLVS | Hot Stocks08:10 EDT Clovis issued second U.S. patent covering rucaparib - Clovis Oncology announced that the United States Patent and Trademark Office issued United States Patent 10,130,636 with claims directed to methods of treating cancer with high dosage strength rucaparib camsylate formulations. The patent claims cover methods of treating cancer with commercial Rubraca product, including all commercial dosage strengths. The high dosage strength rucaparib formulation patent expires in 2035, and will join multiple patents directed to rucaparib, rucaparib camsylate, and methods of treatment as the 11th Orange Book-listed patent for rucaparib.
|
PME | Hot Stocks08:09 EDT Pingtan Marine Enterprise announces three new vessels sailed to sea - Pingtan Marine Enterprise announced that 3 of the Company's new fishing vessels have set sail to sea. This second batch of 3 large scaled light luring seine fishing vessels departed on November 16 from the port of Fuzhou. The remaining 20 new fishing vessels will be gradually placed into the international waters of the Indian Ocean.
|
NMRD | Hot Stocks08:09 EDT Nemaura Medical signs exclusive license agreement with Al Danah Medical - Nemaura Medical announced that it has signed an exclusive license and distribution agreement with Al-Danah Medical for the commercial launch of sugarBEAT in Qatar in readiness for 2019 launch.
|
ESND | Hot Stocks08:08 EDT Staples' affiliates extends expiration of tender offer for Essendant's shares - Staples announced that, pursuant to the Merger Agreement, Egg Merger Sub and Egg Parent, affiliates of Staples, have extended the expiration time of the previously announced tender offer for all outstanding shares of Essendant's common stock to 6:00 p.m., New York City time, on November 29, unless the tender offer is further extended. The tender offer was previously scheduled to expire at 5:00 p.m., New York City time, on November 19.
|
HJLI | Hot Stocks08:07 EDT Hancock Jaffe Laboratories receives update on VenoValve application from INVIMA - Hancock Jaffe Laboratories announced that it has received an update from INVIMA in Bogota on the status of Hancock Jaffe's application for its first-in-human trial for the VenoValve. INVIMA officials confirmed that its members have completed their review of the Hancock Jaffe application and have no substantive issues or questions at this time. The next step is for the Hancock Jaffe application to be presented for approval to INVIMA's Medical Device and Other Technologies Committee at its upcoming December meeting. Patient enrollment will begin immediately after the application for the first-in-human trial is approved by INVIMA. At that time, Hancock Jaffe will make arrangements to export the VenoValves to Colombia. VenoValves for the first-in-human trial have been manufactured and inspected, and are ready for shipment. The dates for the first implantations will be announced after INVIMA approval.
|
TOWR | Hot Stocks08:03 EDT Tower International signs MOU to sell European operations - Tower International announced it has signed a Memorandum of Understanding relating to the sale of all of its European Operations to Financiere SNOP Dunois S.A."FSD", a privately owned French automotive supplier. Tower's European Operations include manufacturing facilities in Belgium, Czech Republic, Germany, Italy, Poland and Slovakia and offices in Germany and Italy. Financial results for full year 2018 are projected at revenue of $650M and Adjusted EBITDA of $55M. Before fees and other customary adjustments, the anticipated sale price represent an Enterprise Value of EURO255M ($298M at $1.17/Euro) representing an enterprise multiple of 5.4 times Adjusted EBITDA. This transaction multiple is significantly higher than the present multiple for Tower's common stock, which Tower estimates was approximately 4.5 times based on yesterday's closing price. The memorandum of understanding signed by the parties together with an unsigned stock purchase agreement, would be the basis on which the parties pursue the signing of a definitive agreement in the next few weeks, once works council consultation has taken place. Completion of the divestiture is expected to take place during the first quarter of 2019 and is subject to approval of the applicable antitrust authorities and other customary conditions. Tower expects to recognize a book loss of approximately $60M related to the sale of the European operations. This one-time charge will include the reclassification of currency translation into earnings, other fair value adjustments and selling costs.
|
NVFY | Hot Stocks08:03 EDT Nova Lifestyle receives over $1M in orders from Barsala - Nova LifeStyle announced that the company received multiple orders totaling over $1M to supply rental furniture for professional and corporate residential customers from Barsala. Barsala is a North American provider of corporate housing and furnished luxury suites. These latest orders are destined for projects in Boston, Seattle, Chicago, Portland and San Diego.
|
EXTR HPE | Hot Stocks08:02 EDT Extreme Networks appoints Remi Thomas as CFO - Extreme Networks (EXTR) announced that Remi Thomas will join the company as its new CFO reporting to Ed Meyercord, President and CEO. Thomas has over 25 years of finance experience, and comes to Extreme from CA Technologies, where he served as Senior Vice President, Corporate Controller for the past year and a half. His start date is November 26. While at CA Technologies, Thomas led the organization in the preparation of financial statements, financial reports and SEC and Regulatory filings, and provided executive leadership on all operational accounting activities. Prior to this role, he served as Vice President of Finance at HPE Software, a business unit of Hewlett Packard Enterprise (HPE). Thomas also worked for Alcatel-Lucent for close to eight years - mostly in Paris and Shanghai - in various finance leadership roles.
|
NSU | Hot Stocks07:52 EDT Nevsun Resources announces Zijin completed Chinese SAFE registration - Nevsun Resources announced that it has been advised by Zijin Mining Group that Zijin has completed the Chinese State Administration of Foreign Exchange, or SAFE, registration and received the Canadian Investment Canada Act, or ICA, approval for Zijin's proposed friendly takeover bid of Nevsun. The SAFE registration is the final Chinese regulatory condition and ICA is the final Canadian regulatory condition to the Offer. Both conditions have now been met. The transaction remains subject to customary closing conditions. The Offer is not subject to any financing conditions. Nevsun will continue to work with Zijin to complete the transaction as scheduled. As previously disclosed, the Offer is all cash consideration of CA$6.00 per Nevsun share.
|
TOWR | Hot Stocks07:49 EDT Tower International trading halted, news pending
|
SBBP | Hot Stocks07:38 EDT Strongbridge Biopharma to present new data on levoketoconazole at ENS@T - Strongbridge Biopharma announced that new in vitro data from a study of levoketoconazole, the active ingredient in Recorlev, an investigational cortisol synthesis inhibitor being evaluated in Phase 3 studies for endogenous Cushing's syndrome, will be presented at the European Network for the Study of Adrenal Tumors, or ENS@T, meeting. The study aimed to compare the direct effects of levoketoconazole on basal and ACTH-stimulated adrenocortical steroid production to those of racemic ketoconazole. Researchers evaluated steroid production by human adrenal cell lines and in primary adrenocortical cultures after treatment with both compounds. The effects of both levoketoconazole and racemic ketoconazole on pituitary tumor cells were also assessed. In one analysis, the effects of two concentrations of levoketoconazole and ketoconazole on the steroid profile were studied in ACTH secretion-associated adrenal hyperplasia, which resulted in an accumulation of progesterone after exposure to levoketoconazole. A greater accumulation of 11-DOC was observed with racemic ketoconazole. Under ACTH stimulation, steroid inhibition dose-response results indicate greater potency of levoketoconazole compared to racemic ketoconazole. A separate analysis showed that when corticotroph pituitary tumor cells were treated with levoketoconazole and racemic ketoconazole, only levoketoconazole demonstrated inhibition of ACTH secretion after just three days of treatment, whereas both levoketoconazole and racemic ketoconazole inhibited ACTH secretion after seven days of treatment. Furthermore, two primary ACTH-secreting corticotroph pituitary adenoma cultures were examined for cell amount and ACTH secretion after seven days of treatment with levoketoconazole and racemic ketoconazole. Levoketoconazole significantly inhibited cell proliferation in one culture, and a significant difference between levoketoconazole and racemic ketoconazole was observed in both cultures, suggesting a stronger effect by levoketoconazole.
|
CPB | Hot Stocks07:34 EDT Campbell Soup up 4% after reporting Q1 results, reaffirming FY19 guidance
|
SAGE | Hot Stocks07:32 EDT Sage Therapeutics receives notification of PDUFA extension for ZULRESSO - Sage Therapeutics announced that the U.S. Food and Drug Administration has extended the Prescription Drug User Fee Act date for its Priority Review of the New Drug Application for ZULRESSO injection for the treatment of postpartum depression. The previously disclosed December 19, 2018 PDUFA goal date has been extended by a period of three months to March 19, 2019. After the recent positive FDA Advisory Committee meeting, Sage submitted a proposed Risk Evaluation and Mitigation Strategies program with Elements to Ensure Safe Use in response to the FDA's request. Under PDUFA VI, FDA can elect to extend the PDUFA goal date by three months for submission of a REMS with ETASU not submitted in the original NDA, and FDA has elected to do so. The FDA has not requested any additional clinical data or any additional information from the Company as part of the extension. If approved, ZULRESSO is expected to be scheduled by the U.S. Drug Enforcement Administration, consistent with other approved GABAergic therapies. The DEA is required to issue an interim final rule controlling the drug within 90 days of approval. Preparations continue for a potential U.S. commercial launch of ZULRESSO for the treatment of PPD, which is now planned for June 2019, if the NDA is approved and post-DEA scheduling. ZULRESSO has been granted Breakthrough Therapy Designation and is the first medicine under FDA review specifically for the treatment of PPD, the most common medical complication of childbirth. It is estimated that PPD affects approximately one in nine women who have given birth in the U.S. and 400,000 women annually. Symptoms of PPD may include sadness, anxiety, irritability, withdrawing from friends or family, having trouble bonding with her baby and thinking about harming herself or, more rarely, her baby.
|
AGN | Hot Stocks07:31 EDT Allergan announces FDA acceptance of sNDA for AVYCAZ - Allergan announced that the U.S. FDA has accepted for review the company's supplemental New Drug Application for AVYCAZ, seeking to expand the label to include the treatment of complicated urinary tract infections and complicated intra-abdominal infections, in combination with metronidazole, in pediatric patients 3 months to less than 18 years of age.
|
MDGS | Hot Stocks07:30 EDT Medigus trading resumes
|
NLSN | Hot Stocks07:19 EDT Nielsen board continues with review of strategic alternatives - The Board of Directors is continuing with its previously announced strategic review, led by James Attwood, Executive Chairman of the Board. This includes a broad review of strategic alternatives for the entire company and its businesses. The strategic review could result in a broad range of alternatives, including continuing to operate as a public, independent company; a separation of either Nielsen's Watch or Buy segments; or a sale of the entire company. The Board of Directors continues to work expeditiously with our team of expert outside advisors, including JP Morgan Securities LLC, Guggenheim Securities LLC, and Wachtell, Lipton, Rosen & Katz and will provide further updates as appropriate.
|
MDGS | Hot Stocks07:18 EDT Medigus to form new company for mini video cameras - Medigus announced that the board of the company has resolved on a reorganization of the company, which will include the transfer of all of the company's assets and intellectual property related to the company's miniature video cameras into a fully owned subsidiary of the company. This technology transfer is intended to distinguish the company's miniature video cameras business from the other operations of the company and will enable the company to form a separate business unit with dedicated resources focused on the promotion of this technology. Together with the technology transfer, the board of directors of the company has directed the company to examine additional applications for the company's miniature video cameras outside of the medical device industry, among others, the defense industry, the aviation industry and the automotive industry. In addition, the company will consider the introduction of investors to invest directly in the company's miniature video cameras fully owned subsidiary, while continuing to support its ongoing operations. The board of directors believes that such technology transfer will allow the company to leverage its innovative miniature video camera technology and explore new business opportunities and relations.
|
AB | Hot Stocks07:17 EDT AllianceBernstein announces offer to acquire Autonomous Research - AllianceBernstein and Autonomous Research announced that AB has made an offer to acquire all the partnership interests and shares of Autonomous. AB is a leading global asset manager with $530B of assets under management and its Bernstein subsidiary is an industry leader in institutional equity research and trading. Autonomous is a well-known and highly regarded global financial services and fintech focused institutional research firm. Through the combination, Bernstein gains further scale to continue investing in its top-ranked research offering, while Autonomous obtains access to the broad distribution reach of Bernstein's global institutional sales team and the infrastructure and related efficiencies of Bernstein's global trading operations. Upon completion of the acquisition, each organization will retain its own unique business model, and, initially, its distinct brand identity. The acquisition is expected to close within the next several months, subject to regulatory approvals. With a modest up-front investment, it is structured primarily as a long-term earn-out to align the ultimate price paid with the long-term benefits realized. AB expects the transaction to be slightly accretive by 2020.
|
NLSN IBM | Hot Stocks07:16 EDT Nielsen names David Kenny as CEO, effective December 3 - The Board of Directors of Nielsen Holdings (NLSN) announced that David Kenny will join the company as CEO, effective December 3, 2018. David will also join Nielsen's Board of Directors. David joins Nielsen from IBM (IBM), where he led IBM's Cognitive Solutions business. Kenny succeeds Mitch Barns who, as previously announced, is retiring from the company on December 31 after 22 years.
|
STML | Hot Stocks07:14 EDT Stemline announces EMA grants accelerated assessment for Elzonris MAA - Stemline announced that the European Medicines Agency, or EMA, has granted accelerated assessment for the upcoming centralized marketing authorization application, or MAA, which Stemline expects to complete in Q1 of 2019, for Elzonris in blastic plasmacytoid dendritic cell neoplasm, or BPDCN. Under European Union legislation, a medicinal product of major public health interest may be reviewed under an accelerated assessment procedure. Accelerated assessment can significantly reduce the timeframe for the EMA Committee for Medicinal Products for Human Use, or CHMP, to review a MAA. In the U.S., Elzonris was granted breakthrough therapy designation for the treatment of patients with BPDCN. The biologics license application, or BLA, for Elzonris in BPDCN has received priority review status from the FDA, with a target action date of February 21, 2019, under the Prescription Drug User Fee Act.
|
APLS BIIB | Hot Stocks07:08 EDT Apellis appoints Adam Townsend as CCO - Apellis (APLS) announced the appointment of Adam Townsend as CCO. Prior to joining Apellis, Townsend worked at Biogen (BIIB), with progressive leadership roles in commercial and corporate development. In his new role, Townsend will be responsible for overseeing the strategy, development, and execution of all aspects of Apellis' commercial policies, objectives, and initiatives as the company expands operations with two clinical programs in Phase 3: DERBY & OAKS for the treatment of GA and PEGASUS for the treatment of PNH.
|
OASM | Hot Stocks07:05 EDT Oasmia announces notice of allowance for nanotech patent from USPTO - Oasmia announced that the United States Patent and Trademark Office, or USPTO, has issued a notification of allowance of a patent for its unique nanotech method to produce novel pharmaceutical formulations. The patent will be published on November 27. The patent covers the method to characterize Oasmia's patented excipient XR17, that delivers human and animal cancer drugs less invasive and more effectively. Thus, the patented method is an advantageous substitute technology that contributes to the development of competing drugs such as well-established cancer treatments. This novel character is due to lack of prior inventions with the same features. This status has resulted in a very quick patent filling process of less than two years. In comparison, the 2017 new drug approvals median time in USA is of 14 years. The patent will be valid through 2036. It is also important to note that, although the granted patent is for a method of production, the products produced by the method are also protected by the patent claims in accordance with Article 64 of the European Patent Convention. The functional claims of the patent have been partially or fully tested by FDA and EMA, or European Medical Agency. The notification confirms the inventive nature of the method, outlined in the patent application, both as a less complex and a simpler method of production, as well as providing and increasing yield at comparable reaction times when compared to competing methods. This event opens further the possibility to develop new potential licensing revenues, to address alternative markets and achieve further synergies in production, marketing and sales.
|
BLRX | Hot Stocks07:03 EDT BioLineRx receives Biological Product Designation for AGI-134 from FDA - BioLineRx announced that the FDA has granted the Biological Product Designation for AGI-134, the Company's novel immunotherapy compound. This designation provides the Company with eligibility to obtain 12 years of market exclusivity upon approval of the product for commercial use by the FDA. This regulatory market exclusivity adds an incremental layer of protection in addition to that afforded by existing patents granted in the U.S. and Europe, and pending in other countries, covering the use of AGI-134 for the treatment of solid cancer tumors. These patents are valid until May 2035, with a possible term extension of up to five additional years.
|
ODP | Hot Stocks07:02 EDT Office Depot authorizes new $100M stock repurchase program - Office Depot's Board of Directors has authorized a new stock repurchase program for up to $100M of its outstanding common stock beginning January 1, 2019. As part of the Company's ongoing commitment to increasing shareholder value, the Board of Directors has approved a new $100M stock repurchase authorization effective January 1, 2019. The new stock repurchase program will follow the company's current program, which expires on December 31, 2018. As of September 29, 2018, $41M remained available for stock repurchases under the current program. The authorization permits the company to repurchase common stock from time-to-time through a combination of open market repurchases, privately negotiated transactions, 10b5-1 trading plans, accelerated stock repurchase transactions and/or other derivative transactions. The new stock repurchase program, which extends until the end of 2020, may be suspended or discontinued at any time. The exact number and timing of share repurchases will depend on market conditions and other factors, and will be funded through available cash balances.
|
BA | Hot Stocks07:01 EDT Boeing, SparkCognition to launch joint venture SkyGrid - Boeing and SparkCognition announced plans to launch SkyGrid, a new company that will enable the future of urban aerial mobility. Based in Austin, Texas, SkyGrid will develop a software platform to ensure the safe, secure integration of autonomous cargo and passenger air vehicles in the global airspace. Using blockchain technology, AI-enabled dynamic traffic routing, data analytics and cybersecurity features, SkyGrid's platform will go beyond unmanned aircraft systems traffic management. The platform will enable SkyGrid customers to safely perform a broad range of missions and services using UAS, including package delivery, industrial inspections and emergency assistance.
|
R FDX | Hot Stocks06:59 EDT Ryder announces largest commercial electric vehicle purchase in U.S. - Ryder System (R) announces the largest commercial electric vehicle purchase in the United States, which enables broader adoption of commercial EV technology on a large scale. Together with an order of 1,000 medium-duty electric panel vans by Chanje Energy, Ryder and FedEx (FDX) have now executed a truck leasing and preventive maintenance agreement primarily for Ryder's ChoiceLease fleet. The purpose-built electric vehicles will be operated by FedEx Express for commercial and residential pick-up and delivery services in the U.S. The fleet is expected to be deployed throughout California over the next two years. FedEx will have access to Ryder's network of 800 facilities across North America to support its Chanje electric vehicle fleet, which will help maximize uptime, lower costs, and keep the FedEx fleet moving. Ryder is the exclusive sales channel, service, and warranty partner for Chanje and its medium-duty EVs, also providing truck leasing and preventive maintenance solutions to customers. The Chanje all-electric large delivery style van is equipped to haul up to 6,000 pounds and up to 675 cubic feet of cargo, all with zero vehicle exhaust emissions and up to 150-mile range on a single charge. The Chanje EVs are configured to match the current shelving, specifications, and workflow that FedEx Express delivery drivers use today, without the emissions, noise, or maintenance associated with gas or diesel vehicles.
|
MDGS | Hot Stocks06:57 EDT Medigus trading halted, news pending
|
FDX R | Hot Stocks06:57 EDT FedEx acquires 1,000 Chanje electric vehicles - FedEx (FDX) announced it is expanding its fleet to add 1,000 Chanje V8100 electric delivery vehicles. FedEx is purchasing 100 of the vehicles from Chanje Energy and leasing 900 from Ryder System (R). The purpose-built electric vehicles will be operated by FedEx Express for commercial and residential pick-up and delivery services in the United States. The vehicles are manufactured by FDG in Hangzhou, China, and purchased through Chanje Energy Inc., the company's subsidiary for global business. Ryder System, Inc. will provide support services for all of the vehicles.
|
SNR | Hot Stocks06:55 EDT New Senior Investment to internalize the company's management function - New Senior Investment Group announced it has entered into a definitive agreement to internalize the Company's management function, effective as of January 1. As previously announced on February 23, the Company's Board of Directors, together with the Company's management team and legal and financial advisors, have been exploring a full range of strategic alternatives to maximize shareholder value. The Board formed a special committee, composed entirely of independent and disinterested directors, to address certain aspects of the strategic review. In connection with the strategic review, the Company retained J.P. Morgan Securities as its financial advisor and Skadden, Arps, Slate, Meagher & Flom as its legal advisor. In addition, the Special Committee retained Morgan Stanley & Co. LLC as its independent financial advisor and Wachtell, Lipton, Rosen & Katz as its independent legal advisor. The strategic review has been a multi-step process, resulting in the following previously announced initiatives: the termination of triple net leases and entry into new management agreements for 51 IL Assets in May, a re-set of the Company's dividend in August, the $720M refinancing completed on October 10 and an agreement in principle reached in August to internalize the Company's management function, subject to the completion of definitive documentation.
|
MDT | Hot Stocks06:48 EDT Medtronic CEO says 'we are executing on multiple fronts' - "This was an outstanding quarter for Medtronic. We are executing on multiple fronts, resulting in robust top-line growth, solid margin expansion, and increasing free cash flow," said Omar Ishrak, Medtronic chairman and CEO. "Yet, even more exciting than our results this quarter is the progress we are making on our new product pipeline, which is stronger than at any time in our company's history."
|
ATV | Hot Stocks06:44 EDT Acorn International announces partnership with Shanghai Media Group - Acorn International announced that its subsidiary, Acorn Media Group, signed a cooperation agreement with influential media powerhouse SMG through one of its key content subsidiaries, DEG, paving the way for Acorn's broad partnership with one of the largest State-owned media conglomerates in China. Following the establishment of this partnership, Acorn and DEG intend to work together to provide cross-border resources to support Acorn's influencer management business, Acorn Entertainment, which represents celebrity talent and brands in China to help grow and monetize their presence here, as well as Acorn's content business, which monetizes through VOD or live streaming ticket sales, as well as e-commerce and other revenue channels.
|
CBM | Hot Stocks06:42 EDT Cambrex to acquire Avista Pharma Solutions for approximately $252M - Cambrex announced it has entered into a definitive agreement to acquire Avista Pharma Solutions for approximately $252M. Avista is a portfolio company of Ampersand Capital Partners, a leading healthcare focused private equity firm. Avista operates four facilities located in Durham, NC, Longmont, CO, Agawam, MA and Edinburgh, Scotland, UK, comprising over 200,000 square feet of space. All sites have a strong reputation for quality and excellent regulatory track records and contain state of the art assets. Avista has worked on more than 200 small molecules for approximately 180 customers so far in 2018, providing some combination of analytical testing, early stage process chemistry, formulation development, manufacturing, or solid state chemistry services. Including the microbiological testing business, Avista has over 400 active customers, and is expected to generate approximately $65 million in annual revenue in 2018. Avista's 330 person workforce will join Cambrex's 1,700 employees across the United States and Europe. Cambrex will acquire Avista for approximately $252M in total cash consideration. The acquisition is expected to be funded with a combination of cash on hand and borrowings under Cambrex's existing revolving credit facility which in conjunction with this transaction, will be increased through the accordion feature. Cambrex has secured committed financing for the proposed increase. Upon completion of the transaction, Cambrex's net leverage ratio, pro forma for the transaction, is expected to be approximately 2.4 times EBITDA as defined under the Company's credit agreement. Cambrex expects the transaction to be accretive to adjusted earnings per share in 2019. Completion of the transaction is subject to customary closing conditions and is expected to occur during the fourth quarter of 2018.
|
TGT | Hot Stocks06:34 EDT Target sees Q4 SSS up about 5%
|
CVS AET | Hot Stocks06:21 EDT CVS Health, Aetna deal expected to close after Thanksgiving holiday - In connection with the closing of the proposed acquisition of Aetna (AET), all of the required change in control filings were submitted to 28 state insurance departments in January 2018. CVS Health (CVS) has received approval from 26 of the 28 state departments of insurance. CVS Health has made significant progress and is in the final stages of the approval process with the remaining two states. CVS Health is confident that these remaining approvals will be secured. As a result, the acquisition is now expected to close after the Thanksgiving holiday.
|
LOW | Hot Stocks06:09 EDT Lowe's sees 'positive trends' in FY19 - Lowe's CEO Marvin Ellison said, "During the quarter, the favorable macroeconomic environment, combined with great values, drove traffic to our stores and website. However, continued challenges with inventory out of stocks, poor reset execution, and assortment concerns in certain categories pressured our ability to turn those visits into transactions. Rather than chase short-term solutions to these problems, we are redesigning processes and systems to deliver sustainable improvement, and expect to see positive trends as we enter 2019. Our transformation will take time, but we have assembled an experienced team and developed a comprehensive plan to make steady progress."
|
LOW | Hot Stocks06:07 EDT Lowe's to exit Mexico retail operations, exploring strategic alternatives - Management has substantially completed its strategic reassessment of the business and identified actions to drive focus on its core home improvement business and improve profitability. The company intends to exit its Mexico retail operations and is exploring strategic alternatives. The company has also identified certain non-core activities within its U.S. home improvement business to exit, including Alacrity Renovation Services and Iris Smart Home. These actions are in addition to the previously announced decisions to exit its Orchard Supply Hardware operations, and close 20 underperforming stores in the U.S. and 31 stores and other locations in Canada. "Our top priority in the third quarter was positioning Lowe's for long-term success by identifying underperforming or non-core businesses and stores for divestiture," commented Marvin R. Ellison, Lowe's president and CEO. "With our strategic reassessment substantially completed, we can now intensify our focus on the core retail business. The $280 million in pre-tax charges recognized in the third quarter and referenced above related to this strategic reassessment, and included the following: $123 million of accelerated depreciation and amortization, lease and severance obligations, and other costs related to the decision to close all Orchard Supply Hardware locations; $121 million of long-lived asset impairment and severance obligations related to the decision to close certain underperforming stores in the U.S. and Canada and other locations in Canada; $22 million of long-lived asset impairment related to the decision to exit retail operations in Mexico, and; $14 million of long-lived asset impairment and inventory write-down related to the decision to exit certain non-core activities, including Alacrity Renovation Services and Iris Smart Home. Additional pre-tax charges of $460 to $580 million related to these decisions and consisting of lease obligations, accelerated depreciation and amortization, severance and other costs are expected to be incurred in the fourth quarter of fiscal 2018, and have been reflected in the company's updated business outlook. The amounts, nature and timing of any additional charges associated with the intended exit of its Mexico retail operations will depend on the plan executed, therefore those amounts are not reflected in the company's updated business outlook. As a result of the new revenue recognition accounting standard ASU No. 2014-09 adopted in the first quarter of 2018, the company reclassified certain items within operating income. This change resulted in an increase to sales of approximately $240 million in the third quarter, driven primarily by the reclassification of the profit sharing income from the company's proprietary credit program from selling, general and administrative expense. This accounting standard has no impact on comparable sales or diluted earnings per share. It was adopted on a modified retrospective basis, therefore the prior year has not been adjusted.
|
KW | Hot Stocks06:03 EDT Kennedy Wilson signs two lease deals in Europe with WeWork and ASOS - Kennedy Wilson has signed two of the largest European lease deals in the company's history with industry leading enterprises WeWork and ASOS. WeWork, the global provider of flexible, collaborative and shared workspaces, will soon occupy the entire building at Friars Bridge Court in Southbank London, and ASOS, the leading online retail group, will expand its presence at Leavesden Park in Watford to occupy the full building.
|
COWN | Hot Stocks05:27 EDT Cowen Group increases share repurchase program to $25M - On November 19, Cowen's board approved a $16.8M increase in the company's share repurchase program. With this increase, the total amount available for repurchase under the program is now $25M. Since the program was announced in 2011, Cowen has repurchased approximately $154M of shares, or 9.8M shares, under the existing share repurchase program.
|
COWN | Hot Stocks05:25 EDT Cowen Group to acquire Quarton for $75M - Cowen and Quarton International AG and affiliated Quarton entities, collectively, Quarton International, announced the signing of a definitive agreement under which Cowen will acquire privately-held Quarton International, a leading global financial advisory company serving the middle market. The definitive agreement has been approved by Cowen's board and Quarton International's shareholders and governing bodies. This transaction is expected to close by January 2, 2019. Under the definitive agreement, Cowen will acquire 100% of Quarton International's equity interests for upfront consideration of $75M, subject to net working capital and other customary adjustments as set forth in the definitive agreement, with additional contingent consideration of $40M that would become payable dependent on the achievement of certain performance milestones by Quarton International. In addition, Cowen has agreed with Quarton International to establish a retention bonus pool for Quarton International employees following the completion of the acquisition. All consideration, including pursuant to any employee retention program, is to be comprised of 80% cash and 20% Cowen Class A common stock.
|
BSX | Hot Stocks05:22 EDT Boston Scientific announces recommended offer to acquire BTG for $4.2B - Boston Scientific announced it has reached an agreement on the terms of a recommended offer to acquire BTG plc., a company headquartered in the United Kingdom, which develops and commercializes products used in minimally-invasive procedures targeting cancer and vascular diseases, as well as acute care pharmaceuticals. The transaction has been unanimously approved by the boards of Boston Scientific and BTG. Under the terms of the transaction, holders of BTG's common shares would receive cash consideration of 840 pence per share. The total cash consideration for 100% of BTG's equity is approximately $4.2B. The transaction is intended to be effected by way of an English court-sanctioned scheme of arrangement, and is expected to close in the first half of 2019, subject to receipt of required regulatory approvals and the approval of BTG's shareholders and the U.K. court. BTG has three key businesses, the largest of which is its Interventional Medicine portfolio which encompasses several peripheral interventional product lines. The interventional oncology franchise includes the TheraSphere Y-90 radiotherapy microspheres and the GALIL cryoablation system, used to treat patients with liver, kidney and other cancers. More than 840,000 people are expected to be diagnosed with liver cancer in 2018, and that number is expected to grow to 1.1 million by 2030. Kidney cancer is among the 10 most common cancers in both men and women. The transaction is expected to be two to three cents accretive to Boston Scientific adjusted earnings per share in 2019, and increasingly accretive thereafter. On a GAAP basis, the transaction is expected to be dilutive in 2019, and less dilutive or increasingly accretive thereafter, as the case may be, due to amortization expense and acquisition-related net charges.
|
BSX | Hot Stocks05:20 EDT Boston Scientific announces recommended offer to acquire BTG for $4.2B
|
JG | Hot Stocks05:20 EDT Aurora Mobile announces $10M share repurchase program - Aurora Mobil announced that its board has approved a share repurchase program, under which the company may repurchase up to $10M of its shares over the next six months. The company plans to fund repurchases from its existing cash balance.
|
ANW | Hot Stocks05:16 EDT Aegean Marine gets court approval for 'first day' motions to support operations - Aegean Marine announced that the U.S. Bankruptcy Court for the Southern District of New York granted interim approval of all the company's first day motions related to its voluntary Chapter 11 restructuring. The approvals by the Court immediately improve the company's liquidity position, and ensure that suppliers, vendors, and employees, among other critical partners, continue to be paid in the normal course of business. Through the Court approvals, the company has access to substantial capital during the restructuring process provided by the $532M Debtor-in-Possession credit facility funded by Mercuria Energy Group, including an initial $40M of incremental cash over the next 30 days to support operations. In addition to providing the DIP to fund the Chapter 11 process and the company's working capital needs, Mercuria is also acting as the stalking horse bidder in a sale process designed to maximize the value of the company as a going concern. The Asset Purchase Agreement, including the $681M stalking horse bid proposed by Mercuria, has been filed with the Court.
|
BA | Hot Stocks05:09 EDT Boeing, Jeju Air announce order for up to 50 737 MAX airplanes - Boeing and Jeju Air announced the airline is ordering 40 737 MAX 8 airplanes with options for 10 additional jets. The deal, valued at up to $5.9B at list prices, is the largest order ever placed by a Korean low cost carrier and reflects rising demand for air travel in South Korea. Jeju Air is looking to build on its success with the enhanced version of the 737 jet. The 737 MAX 8 provides more range and offers 14 percent better fuel efficiency and environmental performance thanks to the latest CFM International LEAP-1B engines, Advanced Technology winglets, and other aerodynamic improvements.
|
CYH | Hot Stocks05:07 EDT Community Health announces agreement to sell four SC hospitals - Community Health Systems announced that subsidiaries of the company have signed a definitive agreement to sell four South Carolina hospitals - 82-bed Chester Regional Medical Center in Chester, 225-bed Springs Memorial Hospital in Lancaster, 396-bed Carolinas Hospital System in Florence, and 124-bed Carolinas Hospital System - Marion in Mullins - along with related businesses, including physician clinic operations and outpatient services, to the Medical University Hospital Authority in Charleston, S.C. As part of the transaction, Medical University Hospital Authority will assume the long-term lease and operations of Chester Regional Medical Center. The transfer of the lease is subject to the consent of the Chester County Hospital Board of Chester County, South Carolina. The transaction is expected to close in Q1 of 2019, subject to customary regulatory approvals and closing conditions. The four hospitals are among the additional planned divestitures discussed on the company's Q3 earnings call.
|
DBVT | Hot Stocks04:58 EDT DBV Technologies presents additional analyses from Phase III Pepites study - DBV Technologies announced that three oral abstracts supporting the therapeutic potential of Viaskin Peanut were presented at the American College of Allergy, Asthma and Immunology 2018 Annual Scientific Meeting. The presentations included additional analyses from Pepites, a pivotal Phase III efficacy and safety study of Viaskin Peanut in children ages four to 11. Dr. Hugh Sampson, Chief Scientific Officer of DBV Technologies and Kurt Hirschhorn Professor of Pediatrics at the Icahn School of Medicine at Mount Sinai said, "The breadth of data we shared with the scientific and medical community at ACAAI further illustrate the therapeutic benefit children may receive from treatment with Viaskin Peanut. From an analysis showing a robust overall patient desensitization to a quantitative model suggesting that patients treated with Viaskin Peanut in PEPITES may experience a meaningful reduction of the risks associated with accidental exposure, we are continuing to see important evidence supporting the potential use of Viaskin Peanut in the treatment of peanut allergy." In an oral presentation entitled, "Increased Reactivity Threshold in Peanut-Allergic Subjects Treated With 12 Months of Epicutaneous Viaskin Peanut", Dr. Carla Davis, Texas Children's Hospital, Houston, TX, presented findings showing that 62.6% of patients who were treated with Viaskin Peanut for 12 months in the Pepties trial increased their peanut eliciting dose, compared to 28.0% of patients in the placebo group. An odds ratio analysis indicated that patients treated with active therapy were 4.3 times more likely to improve their peanut threshold reactivity level versus placebo. In the study, a statistically significant higher rate of responders was observed with Viaskin Peanut 250 microg compared to placebo after 12 months of treatment, the company said. "These new results from the PEPITES study, which investigated a potential first-in-class peanut desensitization therapy with the epicutaneous patch system, show that most patients treated with Viaskin Peanut are seeing an improvement in peanut reactivity after just the first year of treatment. This is an exciting time for the peanut allergy community as Viaskin Peanut continues to move toward a potential approval."
|