Stockwinners Market Radar for January 21, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

13:05 EDT UQM Technologies acquired by Danfoss Power Solutions for $1.71 per share - UQM Technologies announced that it has entered into a definitive merger agreement with the Danfoss Power Solutions Company, a wholly-owned subsidiary of Denmark-based Danfoss A/S, under which Danfoss will acquire all outstanding common shares of UQM for $1.71 per share in an all-cash transaction valued at approximately $100M, including the assumption of UQM's debt. The merger anticipates that UQM will become part of the Danfoss Power Solutions segment. The cash consideration represents a premium of approximately 52.5% over UQM's closing share price on January 18 and a 71.4% premium to its weighted average trading price over the trailing 60 days. The transaction will be funded with Danfoss' cash on hand and is not subject to any financing condition. The merger agreement was unanimously agreed to by the boards of both UQM and Danfoss; GDG Green Dolphin, which holds approximately 7.4% of the issued and outstanding shares of UQM, and all UQM directors and officers have executed voting and support agreements in favor of the acquisition. Closing of the transaction is subject to approval by two-thirds of UQM shareholders and by the Committee on Foreign Investment in the United States as well as other customary closing conditions. The transaction is expected to close in Q2 of 2019, subject to approval by UQM's shareholders and CFIUS.

12:33 EDT Raytheon awarded $24.36M order for F/A-18 aircraft system repair - Raytheon said it was a awarded $24.36M contract for ceiling-priced delivery order N00383-19-F-N700 under previously awarded basic ordering agreement for the repair of the APG 65/73 radar systems in support of the F/A-18 aircraft. Fiscal 2019 working capital funds in the amount of $11.94M will be obligated at the time of award and funds will not expire at the end of the current fiscal year. Naval Supply Systems Command Weapon Systems Support, Philadelphia, Pennsylvania, is the contracting activity.

11:25 EDT Editas Medicine announces publication of EDIT-101 data in Nature Medicine - Editas Medicine announced the journal Nature Medicine published the pre-clinical data demonstrating the pharmacology and specificity of EDIT-101, an experimental, CRISPR genome editing medicine being investigated for the treatment of Leber congenital amaurosis 10, a genetically-driven form of blindness. "EDIT-101 is set to be the first in vivo, or editing inside the body, CRISPR-based medicine administered to people anywhere in the world," the company said in a statement. Published results detail the development of EDIT-101, an experimental genome editing medicine designed to remove the abnormal splice donor created by the IVS26 mutation in the CEP290 gene found in LCA10 patients and restore normal CEP290 expression. The paper summarizes in vitro experiments in human cells and retinal explants demonstrating the molecular mechanism of action and nuclease specificity.

09:50 EDT Abbott announces FDA approval of TactiCath Contact Force Ablation Catheter - Abbott announced FDA approval of the TactiCath Contact Force Ablation Catheter, Sensor Enabled, a new ablation catheter "designed to help physicians accurately and effectively treat atrial fibrillation." The company added, "The approval further expands Abbott's portfolio of cardiac ablation tools that integrate with the company's EnSite Precision cardiac mapping system to help physicians develop more precise images of the heart during cardiac ablation procedures."

09:45 EDT Tenaris closes acquisition of 47.79% of Saudi Steel Pipe shares - Tenaris S.A. announced that it closed its previously announced acquisition from a private group of 47.79% of the shares of Saudi Steel Pipe Company, a welded steel pipes producer listed on the Saudi stock market, for a total amount of $141M. Upon the closing of the transaction, four Tenaris's nominees were appointed as new members of SSP's board of directors. In addition, SSP's board of directors appointed Mariano Armengol, a senior executive with Tenaris, as managing director and chief executive officer of SSP. Tenaris will begin consolidating SSP's results as from January 21, 2019. As a result of the transaction, Tenaris expects to expand its industrial presence in the Kingdom of Saudi Arabia. "Since its first industrial investment in the Kingdom in 2010, Tenaris has continuously invested to expand its local operations, supporting the industrialization of the country," it said in a statement.

09:38 EDT Crown Crafts announces retirement of NoJo Baby & Kids CEO - Crown Crafts (CRWS) announced that Nanci Freeman, the President and CEO of the company's subsidiary, NoJo Baby & Kids, will be retiring on August 30, 2019. Freeman has been promoted to serve until her retirement date as Executive Chairperson of NoJo and Donna Sheridan has been named NoJo's new President and CEO. Sheridan most recently served for more than eight years as Senior Vice President of Lambs & Ivy. Prior to that, she served for almost fifteen years in senior leadership roles in merchandising, brand management and sales with Disney (DIS).

09:34 EDT UTStarcom says TDI paid $4.54 per share to increase stake to 9.9% - UTStarcom announced that its strategic partner Tongding Interconnection Information increased its ownership stake in UT to 9.9% through a series of transactions executed late in 2018. TDI paid approximately $4.54 per share of UT, an approximately 30% premium over UT's average share price for the past three months. UTStarcom's CEO Tim Ti commented, "We are pleased to further strengthen ties with our strategic partner TDI. The fact that TDI increased its position in UT, paying a substantial premium to market, is an indication of their confidence in our shared prospects. We expect TDI's strategic investment in our company to result in compelling benefits from a market and product standpoint. Our technology and service expertise in overseas markets, especially Asia-Pacific, can significantly enhance their competitive position. Furthermore, together we can capture additional 5G network opportunities. Our technical strength in optical networking will help TDI further expand its presence in the network transmission markets, including mobile backhaul, and metro transmission." As announced in September 2018, UTStarcom formed a strategic partnership with TDI to jointly market and distribute the respective companies' products and services in China and international markets.

09:30 EDT Alnylam, Israel's Medison partner to commercialize Onpattro, RNAi portfolio - Alnylam Pharmaceuticals and Israel's Medison Pharma announced an exclusive agreement to commercialize Onpattro as well as other investigational therapeutics under development in the Alnylam RNAi portfolio. "Our partnership with Medison marks an important step in our global commercial expansion and signals our intent to ensure that patients suffering from serious rare diseases have access to our medicines, regardless of location," said Theresa Heggie, SVP and Head of Europe, Middle East and Africa, and Canada, Alnylam Pharmaceuticals. The agreement between Alnylam and Medison includes Onpattro, approved in the European Union in August 2018 for the treatment of hATTR amyloidosis in adults with stage one or stage two polyneuropathy; givosiran, a late-stage investigational RNAi therapeutic for the treatment of acute hepatic porphyria; and lumasiran, a late-stage investigational RNAi therapeutic for the treatment of Primary Hyperoxaluria Type 1. These medicines are not currently approved for use in Israel and givosiran and lumasiran have not yet been approved by any regulatory authority, Alnylam noted.