Stockwinners Market Radar for July 04, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:33 EDT OMA reports June passenger traffic up 11.9% versus last year - Grupo Aeroportuario del Centro Norte, known as OMA, reports that terminal passenger traffic at its 13 airports increased 11.9% in June 2019, as compared to June 2018. Domestic traffic increased 11.3%, and international traffic increased 16.7%.

13:53 EDT Grifols announces FDA approval of subcutaneous immunoglobulin Xembify - Grifols announced that Xembify, its new 20% subcutaneous immunoglobulin, has been approved by the FDA. Xembify is used to treat primary immunodeficiencies. The company plans to launch Xembify in the United States in the last quarter of 2019 and is working with healthcare authorities to obtain approval in Canada, Europe and other markets. Immunoglobulins are mainly used to treat primary and secondary immunodeficiencies, as well as rare neurological conditions, such as chronic inflammatory demyelinating polyneuropathy, Grifols added. The company intends to allocate EUR 1,400M toward capital investments over the 2018-2022 period "in order to meet the growing demand for plasma-derived medicines and reinforce its long-term growth plan."

08:01 EDT Avista announces partial settlement in Oregon rate case - Avista said last night that all of the parties to the company's natural gas general rate case filing have reached agreement on certain issues, and a partial settlement agreement has been filed with the Public Utility Commission of Oregon for its consideration. The partial settlement includes agreement among the parties on the cost of capital and certain smaller adjustments related to employee benefits and other expenses. In addition, the parties agreed to a future independent review of interest rate hedging practices, with any such recommendations based on the results and findings in the final report only applicable on a prospective basis, and would not apply to any prior Avista interest rate hedging activity. The agreed-upon rate of return on rate base is 7.24%, with a common equity ratio of 50% and a 9.4% return on equity, both of which represent a continuation of existing authorized levels. The agreement on the elements in the partial settlement results in a reduction in the company's originally filed revenue increase request. Avista's original natural gas revenue increase request is reduced from $6.7M to $5.36M. "The remaining issues to be resolved in the case include, among other things, capital investments in infrastructure improvements, as well as the recovery of increased utility operating costs. Prior to evidentiary hearings before the PUC, the parties are scheduled to meet again in an effort to resolve the remaining issues," Avista added.

07:58 EDT Peapack-Gladstone acquires Point View Wealth Management - Peapack-Gladstone Financial announced last night that it has entered into an agreement to acquire Summit, NJ-based Point View Wealth Management, with assets under management of over $300M. The company anticipates the purchase will be immediately accretive to earnings. The transaction is expected to close in Q3 of 2019, subject to the receipt of regulatory approval and other customary closing conditions. "Summit, and the surrounding area, is a great market where we already have a number of relationships with clients, professionals and not-for-profit organizations, as well as a retail branch location," said John Babcock, President of Peapack Private Wealth Management. "Acquiring Point View allows us to expand our presence in this highly competitive and sought-after market with a high-quality organization and top-flight professionals that have deep and long-standing ties in this community. We're thrilled to have Point View join our growing wealth management business."

07:50 EDT LGI Homes reports June closings up 2.2% to 651 homes - LGI Homes announced last night that 651 homes closed in June 2019, up from 637 home closings in June 2018, representing year-over-year growth of 2.2%. In addition, the company announced "record-breaking" quarterly home closings of 1,944 during Q2 compared to 1,815 home closings in the second quarter of 2018, a 7.1% increase year-over-year. The company finished the first six months of 2019 with 3,172 home closings, a 3.7% increase over 3,059 home closings during the first six months of 2018. As of the end of June 2019, LGI had 93 active selling communities.