Stockwinners Market Radar for September 16, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
PNRL | Hot Stocks20:18 EDT Paringa Resources names Jim Middleton as Executive Advisor - Paringa Resources is pleased to announce the appointment of Mr. Jim Middleton as Executive Advisor to Paringa Resources Board, with specific responsibility to provide guidance to the company's Poplar Grove coal mine in the United States, to assist in further developing safe, efficient, reliable and cost effective mine operations. Mr. Middleton is an experienced underground mining executive with a long and successful history of running coal mining operations for major natural resource companies, including Glencore, BHP, Xstrata, Exxon Coal and Coal & Allied.
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RBNC | Hot Stocks20:17 EDT Reliant Bancorp to buy Tennessee Community Bank Holdings for $37.2M - Reliant Bancorp announced that it has entered into a definitive agreement to acquire Tennessee Community Bank Holdings, the parent company for Community Bank & Trust located in Ashland City, Tennessee, in an approximately 50% stock and 50% cash transaction. The proposed transaction will create the third largest community bank by deposits headquartered in the Nashville-Davidson-Murfreesboro-Franklin, TN Metropolitan Statistical Area. On a pro forma basis as of June 30, 2019, the combined company would have assets of approximately $2.0 billion, deposits of approximately $1.8 billion, gross loans of approximately $1.5 billion, and would operate 22 full-service branches throughout Middle Tennessee and Chattanooga. The merger agreement provides for the merger of TCB Holdings with and into Reliant, with Reliant to be the surviving company. Under the terms of the merger agreement, shareholders of TCB Holdings will receive 0.769 shares of Reliant common stock (subject to adjustment under certain circumstances provided for in the merger agreement) and $17.13 in cash in exchange for each share of TCB Holdings common stock. The 24,450 outstanding options to acquire TCB Holdings common stock are to be cashed out, which equates to additional consideration of approximately $0.40 million. Based on Reliant's 20-day volume-weighted average closing price per share on September 16, 2019, of $23.06, this represents a total transaction value of approximately $37.2 million. The transaction value is likely to change due to fluctuations in the price of Reliant's common stock, and the consideration payable to TCB Holdings shareholders is also subject to adjustment under certain circumstances provided for in the merger agreement.
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ORCL INTC | Hot Stocks19:12 EDT Intel, Oracle collaborate on Optane DC Persistent Memory - Intel (INTC) and Oracle (ORCL) announced that Oracle is incorporating the high performance capabilities of Intel Optane DC Persistent Memory into its next-generation Exadata platform, Oracle Exadata X8M. Built using industry-standard Intel 2nd generation Xeon Scalable processors, Intel Optane DC Persistent Memory, and 100 gigabit RoCE networking, Oracle Exadata X8M is designed to support today's Online Transaction Processing, analytics, and mixed workload database requirements, as well as database consolidation and in-database machine learning. This integration is designed to provide customers with superior performance for latency-sensitive activities such as high-frequency stock trading, IoT data processing, real-time fraud and intrusion detection, financial trading and applications requiring real-time human interactions.
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ORCL VMW | Hot Stocks19:08 EDT VMware, Oracle expand partnership on hybrid cloud - Oracle (ORCL) and VMware (VMW), announced an expanded partnership to help customers leverage the companies' enterprise software and cloud solutions to make the move to the cloud. Under this new partnership, customers will be able to support their hybrid cloud strategies by running VMware Cloud Foundation on Oracle Cloud Infrastructure. With this new solution, customers will be able to easily migrate VMware vSphere workloads to Oracle's Generation 2 Cloud Infrastructure and take advantage of consistent infrastructure and operations. As a part of this partnership, Oracle will also provide technical support for Oracle software running in VMware environments both in customer on-premise data centers and Oracle-certified cloud environments.
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ACRS... | Hot Stocks19:05 EDT Fly Intel: After Hours Movers - HIGHER: Aclaris Therapeutics (ACRS) up 45.5% after its Phase 3 clinical trial of A-101 45% Topical Solution for treatment of common warts met all endpoints. DOWN AFTER EARNINGS: Concrete Pumping (BBCP) down 9.0%. ALSO LOWER: Corning (GLW) down 8.5% after cutting Q3 volume forecasts in Display and Optical Communications units... Acceleron (XLRN) down 7.8% after disclosing its ACE-083 trial did not meet secondary endpoints... Shopify (SHOP) down 4.6% after filing to sell 1.9M subordinate shares... Kraft Heinz (KHC) down 2.7% after private equity investor 3G Capital sold 25.1M share stake... Plus Therapeutics (PSTV) down 2.3% after filing mixed securities shelf... Movers as of 18:45ET.
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KHC | Hot Stocks19:03 EDT 3G Capital sells 25.1M shares of Kraft Heinz - In a regulatory filing, Kraft Heinz disclosed that private equity investor 3G Capital sold 25.1M shares of its common stock on September 16th. The total transaction size was $713M.
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KHC | Hot Stocks18:53 EDT Kraft Heinz's Lemann acquires nearly 3.5M common shares - In a regulatory filing, Kraft Heinz director Jorge P. Lemann disclosed the acquisition of 3,496,503 common shares of the company at a price of $28.60 per share.
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HMSY | Hot Stocks18:43 EDT HMS Holdings acquires VitreosHealth for approximately $36.5M - HMS Holdings announced it has acquired VitreosHealth, a privately held company based in Plano, Texas, that offers predictive and prescriptive health insights for population risk models. Prior to the acquisition, VitreosHealth served as a key strategic partner for HMS, and most notably, as the predictive analytics engine for HMS' Elli, a risk intelligence solution that is part of the company's integrated Population Health Management portfolio. HMS acquired VitreosHealth for approximately $36.5M, which was funded with cash on hand.
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GLW | Hot Stocks18:18 EDT Corning down 5.5% or $1.64 at $28.40 per share after cutting volume outlook - As part of the pre-announcement, the company also disclosed that its management is "taking actions to lower cost to align with revised sales expectations. These actions include capacity adjustments in Display and Optical Communications, reductions in operating expenses, and pacing of capital projects."
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GLW | Hot Stocks18:16 EDT Corning cuts Q3 volume guidance for Display and Optical Communications units - Corning is providing the following updates on the performance of its business segments in Q3, reducing expectations for two - Display Technologies and Optical Communications - and maintaining guidance in its other three. Within Corning's Display Technologies segment, several panel manufacturing customers have reduced utilization below anticipated levels in the current quarter. Consequently, Corning is reducing its Display volume forecast to a sequential decline of a high-single digit percentage in the third quarter. For FY19, the company now expects display glass volume to be up slightly and to outperform the overall glass market, driven by the company's ramp-up of its Gen 10.5 manufacturing capacity. The company continues to expect third-quarter prices to be flat with the second quarter, and full year glass prices to decline at a low-to-mid single digit percentage. Within Corning's Optical Communications segment, several major carriers are further reducing capital spending on cable deployments and fiber-to-the-home projects. In addition, some enterprise customers have reduced their spending below anticipated levels. Consequently, Corning now expects third-quarter Optical Communications sales to decline year-over-year by a low-teen percentage, versus a prior expectation of a low-single digit percentage decline. For FY19, Corning now forecasts Optical Communications sales will decline by 3% to 5%, versus its prior expectation of a low-to-mid-single digit percentage increase. Corning expects both carrier and enterprise network sales to decline year-over-year in the second half of 2019.
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HLNE | Hot Stocks17:57 EDT Hamilton Lane vice chairman sells 150K shares of common stock - In a regulatory filing, Hamilton Lane disclosed that its vice chairman Juan Delgado-Moreiro sold 150K shares of common stock on September 12th. The total transaction size was $9.0M.
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HLNE | Hot Stocks17:52 EDT Hamilton Lane chairman sells 78.5K shares of common - In a regulatory filing, Hamilton Lane disclosed that its chairman Hartley Rogers sold 78.5K shares of common stock on September 12th. The total transaction size was $4.71M.
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GD... | Hot Stocks17:44 EDT General Dynamics, Booz Allen and Parsons awarded $427M max Air Force contract - General Dynamics (GD), Booz Allen Hamilton (BAH) and Polaris Alpha, a subsidiary of Parsons (PSN), have been awarded a $427M maximum ordering amount indefinite-delivery/indefinite-quantity contract with cost-plus-fixed-fee and firm-fixed-price orders for the enhancements, modifications, integration, testing, demonstrations, deployments, maintenance and research and development of global application research, development, engineering and maintenance software baselines. Work is expected to be completed by September 16, 2026. This award is the result of a competitive acquisition and four offers were received. FY19 operations and maintenance funds in the amount of $88,165 are being obligated at the time of contract award. The Air Force Research Laboratory is the contracting activity.
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NJR | Hot Stocks17:34 EDT New Jersey Resources formally appoints Steve Westhoven CEO - Following New Jersey Resources' previously announced succession plan, the board formally appointed Steve Westhoven as President and CEO of NJR and its principal subsidiaries, including New Jersey Natural Gas, effective October 1. Laurence Downes will retire as CEO on September 30 and will continue to serve as Chairman of the Board until the company's Annual Shareowners Meeting in January 2020. "I appreciate the confidence the board has placed in me as the next President and CEO of New Jersey Resources," said Steve Westhoven, President and Chief Operating Officer at New Jersey Resources.
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SLCA | Hot Stocks17:20 EDT U.S. Silica's SandBox unit to appeal U.S. Patent Office decision - U.S. Silica Holdings announced that its SandBox Logistics business unit intends to appeal a recent United States Patent Office decision to invalidate challenged claims in one of the patents at issue in SandBox's lawsuit against Proppant Express Investments, joining other pending appeals filed by both parties in the on-going dispute between SandBox and PropX. ''We have been pleased with the Patent Office's decisions upholding multiple claims across three of four patents challenged by PropX in other IPRs that have reached a final decision. It's important to note that in the underlying case against PropX, we only need to establish infringement of one claim and several of the claims in suit have been upheld in IPRs. Although we believe this latest decision was wrong, our success rate in these IPRs is well above the statistical norm and positions us very well in the litigation," said Bryan Shinn, U.S. Silica president and CEO. "SandBox maintains a robust portfolio of more than fifty issued U.S. patents encompassing hundreds of claims. We will continue to vigorously defend our intellectual property portfolio,'' he added.
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TACO | Hot Stocks17:16 EDT Del Taco names Chad Gretzema as new COO - Del Taco Restaurants announced the promotion of Chad Gretzema to Chief Operating Officer, a new leadership role at the company. Mr. Gretzema has been with Del Taco since 2012 and was most recently Senior Vice President, Strategic Planning & Innovation.
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AMCR | Hot Stocks17:10 EDT Amcor's Stephan sells nearly 70,000 ordinary shares - In a regulatory filing, Amcor's Louis Fred Stephan disclosed the sale of 69,787 ordinary shares of the company at a price of $10.27 per share.
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VFF | Hot Stocks17:05 EDT Village Farms joint venture begins shipping to Ontario, launches this month - Village Farms announced its 50%-owned joint venture for cannabis production, Pure Sunfarms, has begun shipping branded dried cannabis products to the Ontario Cannabis Store, or OCS, for retail sale in Ontario. Pure Sunfarms expects its first products to be available at licensed retailers in Ontario and through the OCS website this month. Village Farms also announced that Pure Sunfarms has formally launched its brand and introduced eight strains of dried cannabis flower for the Canadian recreational market. In addition to Ontario, Pure Sunfarms expects its first products to be available at licensed retailers and online in British Columbia in the coming weeks. As previously announced, Pure Sunfarms received from Health Canada the amendment to its license permitting it to sell and distribute packaged, Pure Sunfarms-branded dried cannabis products directly to provincial/territorial wholesalers and authorized private retailers in accordance with provincial/territorial frameworks in Canada, effective immediately. Pure Sunfarms has supply agreements in place with the Ontario Cannabis Retail Corporation and the British Columbia Liquor Distribution Branch.
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CKH | Hot Stocks17:04 EDT Seacor announces major rebranding of subsidiaries - Seacor Holdings announced a major rebranding effort among two of its subsidiaries that will now operate under the Waterman Logistics banner. Central Gulf Lines has become Waterman Transport, and together with its sister company, Waterman Steamship Corporation, comprise the Waterman Logistics brand. The rebranded Waterman businesses will continue to provide door-to-door logistics to commercial and U.S. military clients around the world.
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STXS | Hot Stocks17:02 EDT Stereotaxis appoints Kimberly Peery CFO - Stereotaxis announced that Kimberly Peery has been appointed Stereotaxis CFO, effective October 1. Martin Stammer, who has served as CFO since 2013, has accepted a position as the CFO of a large professional services firm and will resign from the company, effective September 30. Kimberly Peery joined Stereotaxis in 2003 and currently serves as VP of Finance.
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ZAYO | Hot Stocks16:51 EDT Zayo Group COO sells 14,993 common shares - In a regulatory filing, Zayo Group COO John F. Waters, Jr. disclosed the sale of 14,993 common shares of the company at a price of $33.81 per share.
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HLM | Hot Stocks16:46 EDT Hillman CEO Greg Gluchowski leaving company due to family medical issues - The Hillman Companies announced that Doug Cahill, executive chairman, has added the duties of president and CEO, effective September 13. Greg Gluchowski, former president and CEO, has left the company and will be focusing on family medical issues.
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ACRS | Hot Stocks16:45 EDT Aclaris Therapeutics trading resumes
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XON | Hot Stocks16:39 EDT Intrexon falls after dismissing accountant, notes 'going concern' language - On September 10, the audit committee of Intrexon dismissed PricewaterhouseCoopers as the company's independent registered public accounting firm, and on September 13, Deloitte & Touche was engaged as Intrexon's independent registered public accounting firm for the fiscal year ending December 31, in each case effective immediately. The audit reports of PwC on the financial statements of the company as of and for the years ended December 31, 2018 and 2017 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles, except that the report on the company's consolidated financial statements as of and for the year ended December 31, 2018 included an explanatory paragraph expressing substantial doubt about the company's ability to continue as a going concern. Shares of Intrexon are down 5.7% or 39c to $6.45 per share in after-hours trading.
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DRQ | Hot Stocks16:37 EDT Dril-Quip discloses termination of Ca Rong Do project, maintains guidance - Dril-Quip announced that the contract award between its subsidiary Dril-Quip Asia Pacific Pte Ltd. and Repsol for the supply of drilling Top Tensioned Riser systems for the Ca Rong Do, or CRD, project located offshore Vietnam has been terminated. The contract was awarded in February 2018 and was last extended until December 31, 2019 but had been subject to continued delays of the CRD project. With this termination, the CRD contract value of approximately $82M will be removed from the company's backlog. CEO Blake DeBerry states: "While we are disappointed with this outcome, CRD was not included in our prior 2019 revenue guidance due to the overall uncertainty surrounding the project. We remain confident in our ability to achieve our previously announced guidance of $75M-$95M of product bookings and $100M-$110M of revenue per quarter for the remainder of 2019, and we continue to focus our efforts on growing our bookings and backlog while effectively executing to best serve our customers."
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WOW | Hot Stocks16:36 EDT WOW! names Bill Case CIO, announces departure of CTO Bell - WOW! Internet, Cable & Phone announced two organizational changes within its technology team. Bill Case, senior vice president, has been promoted to chief information officer. He will report directly to Teresa Elder, CEO of WOW! and focus on transforming the company's approach to technology, IT and the project management office. Additionally, the company has announced the departure of chief technology officer, Matt Bell. "Matt led the technology team through a time of significant change and innovation," said Teresa Elder, CEO of WOW!. "We appreciate Matt's passion for our customers and focus on excellence."
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XLRN | Hot Stocks16:35 EDT Acceleron announces ACE-083 trial does not meet secondary endpoints - Acceleron announced that treatment with ACE-083 in patients with facioscapulohumeral muscular dystrophy, or FSHD, did not achieve functional secondary endpoints in the Phase 2 trial. Although ACE-083 demonstrated a statistically significant increase in mean total muscle volume, the primary endpoint of the trial, the increase failed to translate to statistically significant improvements in functional tests. As a result, Acceleron will not conduct further clinical trials of ACE-083 in FSHD. In this Phase 2 trial in patients with FSHD, ACE-083 was generally well tolerated. Adverse events were mostly mild to moderate and injection-site related. Acceleron expects to present results at a future medical meeting. ACE-083 is an investigational therapy that is not approved for any use in any country. The two-part Phase 2 clinical trial was designed to evaluate ACE-083 in FSHD patients with muscle weakness in the biceps brachii, or BB, and the tibialis anterior, or TA, a muscle in the lower leg involved in foot dorsiflexion. Part 1 was an open-label, dose-escalation study, with ACE-083 administered by injection into the BB or TA muscle to evaluate safety and increases in muscle volume over a 3-month treatment period. Part 2 was a randomized, double-blind, placebo-controlled study using the optimal dose level selected in Part 1. A total of 56 patients were randomized in Part 2 to receive either placebo or ACE-083 and were evaluated for changes in muscle volume, fat fraction, strength, function, quality of life, and safety over a 6-month primary treatment period, followed by a 6-month open-label treatment period.
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DMTK | Hot Stocks16:34 EDT DermTech names Kevin Sun CFO - DermTech announced that Kevin Sun has been appointed as Chief Financial Officer, Treasurer and Secretary. Sun will serve on the executive leadership team and lead DermTech's finance, investor relations, human resources and information technology functions.
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LDOS | Hot Stocks16:32 EDT Leidos awarded $428M ISR support services contract from U.S. Army - Leidos has been awarded a new task order by the U.S. Army to provide aircraft intelligence, surveillance, and reconnaissance, or ISR, support services. The single award, cost-plus-fixed-fee task order has a one-year based period of performance followed by four one-year option periods, and an approximate value of $428M if all options are exercised. Work will be performed in various state-side and overseas locations.
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SAIC | Hot Stocks16:31 EDT SAIC awarded $85M contract to provide IT services to city of Anaheim, CA - Science Applications International Corp. won an $85M, eight-year prime contract to provide information technology services to the city of Anaheim, California. SAIC's new service delivery model will provide high-quality IT support and maintenance services for the city's infrastructure, applications, and workplace solutions. The fixed-price contract has a four-year initial term and two, two-year optional extensions, for a total of eight years. Work will be performed primarily on-site in Anaheim, with some work offered to remote sites within the continental United States.
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USB | Hot Stocks16:23 EDT U.S. Bancorp director David O'Maley sells over $565K in shares of company stock - U.S. Bancorp director David O'Maley disclosed in a filing that he had sold 10,133 shares of company stock at an average price of $$55.76 per share on September 13. The total transaction value of the sale was $565,016.
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FDX | Hot Stocks16:22 EDT FedEx to increase shipping rates, surcharges in January 2020 - FedEx Express, FedEx Ground and FedEx Freight, all subsidiaries of FedEx Corp., will increase shipping rates and surcharges effective January 6, 2020: FedEx Express shipping rates will increase by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services. FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%. FedEx SmartPost shipping rates will also increase. FedEx Freight shipping rates will increase by an average of 5.9% for shipments within the U.S., including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands, and between the contiguous U.S. and Canada. FedEx Freight shipping rates will also increase for shipments within Canada, within Mexico, and between the contiguous U.S. and Mexico. The following FedEx Express, FedEx Ground and FedEx Freight surcharge changes will also take place effective January 20, 2020: Applicable services, criteria and pricing for FedEx Express and FedEx Ground packages that require additional handling or are oversized will change. There will be changes to applicable surcharges for FedEx Express and FedEx Ground fuel surcharge assessment. Applicable criteria for the FedEx Freight Capacity Load minimum charge will change.
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FDX | Hot Stocks16:21 EDT FedEx announces no additional residential surcharges for holiday season - FedEx Corp. announced that, for the third year in a row, the company will not apply additional residential surcharges during the holiday season, except for shipments that are oversized, unauthorized or that require additional handling. Dates for such peak surcharges vary.
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ECPG | Hot Stocks16:19 EDT Encore Capital appoints Tracy Ting Chief Human Resources Officer - Encore Capital Group announced that Tracy Ting has been appointed to the role of senior VP, Chief Human Resources Officer. She will report to Encore's CEO Ashish Masih. Ting comes to Encore from Avanir Pharmaceuticals, where she has served as the Chief People Officer since 2017.
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ABEO | Hot Stocks16:19 EDT Great Point Partners reports 5.7% passive stake in Abeona Therapeutics - In a regulatory filing, Great Point Partners disclosed a 5.7% stake in Abeona Therapeutics, which represents roughly 2.8M shares. The filing does not allow for activism.
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ZGNX | Hot Stocks16:18 EDT Great Point Partners reports 5.3% passive stake in Zogenix - In a regulatory filing, Great Point Partners disclosed a 5.3% stake in Zogenix, which represents 2.25M shares. The filing does not allow for activism.
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OPTI | Hot Stocks16:18 EDT OPTi Inc. in 'strategic' pact with DR Microgrids - OPTEC International forms strategic partnership with DR Microgrids, powered by ENERGI PROS, for the inclusion of OPTEC Optimum Solar LED lighting solutions to upcoming microgrid projects. With the imminent and increasing threat of wildfires and flooding in just California alone, Public Safety Power Shutoffs, PSPS, are becoming common practice during high risk days for the prevention of disaster. This practice leaves businesses and communities without power leading to temporary closures or forcing businesses to use emission producing back up generators that require costly fossil fuel usage. DR Microgrid is a new venture for ENERGI PROS, a leader in the energy savings/energy services industry since 1993, to expand their reach and innovation. DR Microgrid was created to protect businesses from utility's time of use increases and Public Safety Power Shutoffs, PSPS,by creating Microgrid solutions. By islanding from the grid during a power outage, microgrids avert significant economic loss. Meanwhile, the Microgrid can help the utility ease strain on the central grid during periods of peak demand hours with stored back-up power. This solution allows businesses to gain reliable, resilient, and sustainable electricity at a lower cost.
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ACRS | Hot Stocks16:18 EDT Aclaris says Phase 3 trial meets all primary, secondary endpoints - Aclaris Therapeutics announced positive results from its Phase 3 clinical trial, THWART-2 , of A-101 45% Topical Solution, an investigational new drug for the treatment of common warts. A-101 45% Topical Solution met the primary and all secondary efficacy endpoints, achieving clinically and statistically significant clearance of common warts. A-101 45% Topical Solution is a proprietary high-concentration hydrogen peroxide topical solution being developed as a potential prescription treatment for common warts.
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SEAS | Hot Stocks16:17 EDT SeaWorld CEO Gustavo Antorcha resigns, Marc Swanson named interim CEO - SeaWorld announced a leadership transition. Gustavo Antorcha has resigned from his positions of CEO and member of the Board of Directors. Marc Swanson, who serves as CFO, has been appointed interim CEO. Elizabeth Castro Gulacsy, who serves as Chief Accounting Officer, has been appointed interim CFO. Gulacsy will retain her role as Chief Accounting Officer. These changes are effective immediately. Antorcha has agreed to assist the company to ensure a smooth transition. The Board of Directors has engaged a leading executive search firm to assist in the search for Antorcha's successor.
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TNXP | Hot Stocks16:15 EDT Tonix Pharmaceuticals announces licensing pact with Columbia University - Tonix Pharmaceuticals Holding Corp. announced that it has obtained an exclusive license from Columbia University for the development of TNX-1700 for the treatment of gastric and pancreatic cancers. TNX-1700 is a biologic currently in preclinical development. The licensed assets were developed, in part, by Dr. Timothy C. Wang, Chief, Division of Digestive and Liver Diseases, and Director of the Gastrointestinal and Pancreas Cancer Program and Tumor Biology and Microenvironment program in the Herbert Irving Cancer Center at Columbia University.
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MRVL | Hot Stocks16:07 EDT Marvell's Gaynor sells 35,000 common shares - In a regulatory filing, Marvell Technology executive VP and CALO Mitchell Gaynor disclosed the sale of 35,000 common shares of the company at a price of $26.07 per share.
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EAST | Hot Stocks16:07 EDT Eastside Distilling acquires Azunia Tequila in all-stock transaction - Eastside Distilling announced the acquisition of Azunia Tequila from Intersect Beverage. Azunia Tequila offers four premium tequila products; Blanco Organic Tequila, Reposado Organic Tequila, Anejo Tequila, and Azunia Black Tequila. Primarily sold into on-premise locations throughout the western and southeastern United States, Azunia reported trailing twelve-month sales of $3.5M, an increase of 37% compared to the same year ago period, on approximately 13,000 cases sold. Eastside expects a positive impact on its adjusted EBITDA from the Azunia operations in 2020. The acquisition of Azunia from Intersect Beverages is structured as an all-stock transaction, provided that Eastside may at its election pay a portion of the consideration in cash or a three-year promissory note if the issuance of stock would require Eastside to hold a vote of its stockholders under the applicable Nasdaq rules. Subject to compliance with applicable Nasdaq rules, the initial consideration, not to exceed approximately $14.7M in aggregate based on future revenue performance, will be payable approximately 18 months following the closing and will consist of 850,000 shares of Eastside common stock at a stipulated value of $6.00 per share, 350,000 shares of Eastside common stock based on Eastside's stock price 12-months after the close of the transaction, and additional shares based on the Azunia business achieving certain revenue targets and Eastside's stock price 18-months after the close of the transaction. Eastside has also agreed to issue additional consideration of up to $1.5M upon the Azunia business achieving revenue of at least $9.45M in the period commencing on the 13th month following the closing and ending on the 24th month following the closing.
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LNG EOG | Hot Stocks16:06 EDT Cheniere Energy, EOG Resources announce gas supply agreements - Cheniere Energy (LNG) announced that its subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Corpus Christi Liquefaction Stage III, LLC, have entered into long-term gas supply agreements with EOG Resources (EOG). Under the GSAs, EOG has agreed to sell natural gas to Cheniere over a period of approximately 15 years beginning in early 2020, with the quantity starting at 140,000 MMBtu per day and increasing to 440,000 MMBtu per day. The LNG associated with 140,000 MMBtu per day of this gas supply, or approximately 0.85 million tonnes per annum, will be owned and marketed by Cheniere and EOG will receive a price based on the Platts Japan Korea Marker for this gas. The remaining 300,000 MMBtu per day will be sold by EOG to Cheniere at a price indexed to Henry Hub.
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UFPI | Hot Stocks16:06 EDT Universal Forest acquires Pallet USA - Universal Forest Products announced that one of its affiliates has acquired Hartford, Wisconsin-based Pallet USA. The acquisition expands Universal's industrial product capacity and services in the Midwest. Pallet USA operates one facility that manufactures pallets and crates. The company also distributes industrial lumber and sheet stock and provides services such as heat treating, pallet removal and recycling, custom product design, delivery and managed inventory programs. Bruce Church, president and CEO of Pallet USA, will remain with the operation as general manager of operations through 2019, then transition into a consulting role to assist with new sales efforts to national customers.
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BJ | Hot Stocks16:05 EDT BJ's Wholesale names Lee Delaney president - BJ's Wholesale Club announced that Lee Delaney has been named President, effective immediately. Delaney, currently Executive Vice President, Chief Commercial Officer, will lead BJ's retail, e-commerce and membership operations in addition to his current responsibilities for merchandising, supply chain and marketing. He will continue to report to Christopher J. Baldwin, Chairman and Chief Executive Officer. "Lee's strategic vision and leadership have been instrumental in transforming BJ's Wholesale Club," Baldwin said. "We are creating a focused commercial organization that will provide outstanding member service by delivering great products at unbeatable value. Under Lee's leadership, the new organization will build on our progress as we continue our transformation, driving long-term, profitable growth. I look forward to continuing to partner with Lee to transform BJ's Wholesale Club."
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ACRS | Hot Stocks16:00 EDT Aclaris Therapeutics trading halted, news pending
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ETN | Hot Stocks15:54 EDT Eaton's Semeslberger sells 17,000 ordinary shares - In a regulatory filing, Eaton's Ken D. Semelsberger disclosed the sale of 17,000 ordinary shares of the company at a price of $88.69 per share.
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CRS | Hot Stocks15:51 EDT Carpenter Technology director Steven Karol sells $275K in company shares - Carpenter Technology director Steven Karol disclosed in a filing that he had sold shares of company stock at an average price of $55 per share on September 12. The total transaction value of the sale was $275,000.
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AMZN | Hot Stocks15:51 EDT Amazon says WSJ search results story is wrong - In response to a Wall Street Journal report saying that Amazon changed its search algorithm to feature more profitable listings, the official Amazon News Twitter account said that the story is wrong. "We have not changed the criteria we use to rank search results to include profitability," the company said via Twitter. "We feature products customers want, regardless of whether they are our own brands or products offered by our selling partners." Reference Link
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PRU | Hot Stocks15:38 EDT Prudential subsidiaries charged with failing to disclose conflicts of interest - The SEC charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised. According to the SEC's order, Prudential subsidiaries AST Investment Services and PGIM Investments served as investment advisers to 94 insurance-dedicated mutual funds. The order finds that in 2006, the funds were reorganized so that Prudential could receive certain tax benefits. Those benefits to Prudential, however, came with negative consequences to the funds. First, AST and PI cost the funds tens of millions of dollars in interest income when they temporarily recalled securities the funds had out on loan. AST and PI did not disclose, to the funds' boards of trustees or the beneficial owners of the funds' shares, the conflict of interest between Prudential and the funds in connection with the recalls. Second, the funds' reorganization subjected them to less favorable tax treatment in certain foreign jurisdictions, but Prudential did not timely reimburse the funds for resulting losses despite AST and PI's assurances it would do so. The SEC's order acknowledges that AST and PI self-reported the conduct to the SEC after initially failing to disclose it during an examination, cooperated with the staff's investigation, and voluntarily reimbursed the funds over $155M. The order also censures AST and PI, and requires them to disgorge an additional $27.6M, pay a civil monetary penalty of $5M, and cease and desist from committing any further violations. AST and PI did not admit or deny the SEC's findings. Reference Link
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GIS | Hot Stocks15:04 EDT General Mills recalls five-pound bags of Gold Medal unbleached flour - General Mills announced a voluntary national recall of five-pound bags of its Gold Medal Unbleached All Purpose Flour with a better if used by date of September 6, 2020. The recall is being issued for the potential presence of E. coli O26 which was discovered during sampling of the five-pound bag product. This recall is being issued out of an abundance of care as General Mills has not received any direct consumer reports of confirmed illnesses related to this product. This recall only affects this one date code of Gold Medal Unbleached All Purpose Flour five-pound bags. All other types of Gold Medal Flour are not affected by this recall.
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C | Hot Stocks14:06 EDT Citi reports August credit loss 2.62% vs. 2.91% last month - Reports August 30-plus day delinquencies 1.53% vs. 1.53% last month.
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TRCO NXST | Hot Stocks13:47 EDT Tribune Media CEO 'very pleased' with FCC decision on Nexstar transaction - Tribune Media (TRCO) CEO Peter Kern issued the following statement regarding today's announcement by the Federal Communication Commission that it has approved the acquisition of the company by Nexstar Media (NXST) and Nexstar's related divestiture of local television stations: "We're very pleased with today's decision by the FCC, which enables us to clear the last remaining regulatory hurdle in our path. We look forward to closing our transaction with Nexstar very soon."
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AIMT | Hot Stocks13:44 EDT Aimmune says 'in the middle' of working on pricing for Palforzia - Aimmune Therapeutics CEO Jayson Dallas is speaking on CNBC.
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NXST... | Hot Stocks13:35 EDT Nexstar confirms FCC approves Tribune Media acquisition, related divestitures - Nexstar Media (NXST) announced that the Federal Communications Commission has granted the applications seeking consent to transfer control of licenses held by subsidiaries of Tribune Media Company (TRCO) from the shareholders of Tribune Media to Nexstar. The FCC further granted the divestiture applications that have been filed to bring Nexstar into compliance with the local and national television ownership rules. The divestiture applications relate to the previously announced sales of a total of 21 local television stations to TEGNA (TGNA), The E.W. Scripps Company (SSP) and Circle City Broadcasting I, Inc. "In July the Department of Justice cleared Nexstar's pending acquisition of Tribune Media, and the FCC approval represents the final required regulatory approval needed to close the transaction. As such, Nexstar anticipates closing the Tribune transaction and the divestiture sales shortly, at which time the company will host a conference call, webcast and investor presentation and update the market on its synergy targets and free cash flow guidance," the company stated.
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JPM | Hot Stocks13:34 EDT DOJ charges three JPMorgan metals traders with market manipulation - Two current precious metals traders and one former trader in the New York offices of a U.S. bank were charged in an indictment unsealed today for their alleged participation in a racketeering conspiracy and other federal crimes in connection with the manipulation of the markets for precious metals futures contracts, which spanned over eight years and involved thousands of unlawful trading sequences. Charged in the indictment are: Gregg Smith, who was an executive director and trader on Bank A's precious metals desk in New York; Michael Nowak, who was a managing director and ran Bank A's global precious metals desk; and, Christopher Jordan, who joined Bank A in March 2006 and was an executive director and trader on Bank A's precious metals desk in New York. "The defendants and others allegedly engaged in a massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants," said Assistant Attorney General Brian A. Benczkowski. "These charges should leave no doubt that the Department is committed to prosecuting those who undermine the investing public's trust in the integrity of our commodities markets." According to a Reuters report last week, JPMorgan placed Nowak and Smith on leave in response to a U.S. criminal probe into the lender's metals trading practices. Reference Link
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NFLX | Hot Stocks13:28 EDT Netflix: All 180 episodes of 'Seinfeld' coming to Netflix in 2021 - Netflix announced via Twitter: "All 180 episodes of the Emmy-Award winning Seinfeld are coming to Netflix - worldwide! - starting in 2021." Reference Link
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TGNA... | Hot Stocks13:13 EDT FCC approves Nexstar deal to buy Tribune Media - The Federal Communications Commission approved the sale of Tribune Media Company (TRCO) broadcast stations to Nexstar Media Group (NXST). In connection with this transaction, the Commission also approved the divestiture to Scripps Broadcast Holdings, LLC (SSP); TEGNA Broadcast Holdings, LLC (TGNA); and CCB License, LLC of broadcast stations in certain markets necessary for Nexstar to come into compliance with the Commission's local and national television ownership rules. In the Indianapolis and Norfolk markets, the Commission found that the transfer of preexisting combinations of two top-four ranked broadcast television stations to Nexstar and Scripps, respectively, would be in the public interest. The Commission found that the proposed merger would provide several public interest benefits to viewers of current Tribune and Nexstar stations. For example, viewers would benefit from their local stations having increased access to Nexstar's Washington, DC, news bureau and state news bureaus. Additionally, Nexstar demonstrated that it would invest savings resulting from the merger into its stations, including investments in ATSC 3.0, the next-generation television broadcast standard, the FCC said. Reference Link
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NFLX | Hot Stocks13:12 EDT Netflix says all 180 episodes of 'Seinfeld' comng to Netflix in 2021 - Netflix announced via Twitter: "All 180 episodes of the Emmy-Award winning Seinfeld are coming to Netflix - worldwide! - starting in 2021." Reference Link
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CHD | Hot Stocks12:53 EDT Church & Dwight CEO buys 7,000 shares - Church & Dwight President and CEO Matthew Farrell disclosed in a regulatory filing that he purchased 7,000 shares of the company's common stock at an average price of $71.32 per share on September 16. The stock purchase has a value of $499,268.
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ED | Hot Stocks12:51 EDT Con Edison challenges repeal of Clean Power Plan - Con Edison, as part of a coalition of public and private electric utility companies, has filed a petition in the District of Columbia Circuit Court of Appeals to challenge the Environmental Protection Agency's new Affordable Clean Energy Rule and the repeal of the Clean Power Plan. Con Edison has taken this action because it believes that the EPA's rollback of the Clean Power Plan is the wrong approach to combating climate change, and will undermine the company's own efforts to achieve meaningful reductions in greenhouse gas emissions, including: Significant investments in renewable energy; the promotion of utility-owned renewable generation; Offshore wind initiatives; Infrastructure and incentives to support electric vehicle adoption; Clean heating alternatives; Innovative battery storage and energy efficiency programs; Renewable gas; Natural gas efficiency programs and methane emission reductions; Customer-friendly policies for residential solar generation.
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IBOC | Hot Stocks12:50 EDT International Bancshares increases dividend 10% to 55c per share - International Bancshares announced that on September 13, IBC's Board of Directors approved the declaration of a 55c per share cash dividend, increasing the dividend by 5c or 10% per share from the previous dividend of 50c for shareholders of record of common stock, $1.00 par value, as of the close of business on September 30, payable on October 15. "This significant increase in the cash dividend was made possible because of our company's strong earnings performance, augmented by the benefits of the recent tax cut, and the company's very strong capital position," said Dennis E. Nixon, President and CEO of IBC.
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COMM | Hot Stocks12:46 EDT CommScope reports FCC approves spectrum access system for deployment - CommScope announced that the company has received official notification from the Federal Communication Commission that its spectrum access system to support the Citizens Broadband Radio Service is now certified for initial commercial deployment. "With the public notice from the FCC, companies can finally enter initial commercial deployment and begin to realize the value that private LTE can bring to their buildings, campuses, employees, customers and business. CommScope is demonstrating its commitment to bringing CBRS to life with a full solution consisting of CBRS access points, SAS and ESC. The industry needs an end-to-end solution to give organizations the ability to quickly, and confidently, deploy LTE-based wireless solutions," said Iain Gillott, president and founder of iGR. In 2018, AT&T announced CommScope was selected as the SAS provider for its first 5G-ready CBRS network solution, the company noted. "In addition, CommScope's SAS is in trials with other major carriers for customers in a variety of industries," CommScope added.
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BA | Hot Stocks12:32 EDT Boeing to sell Inventory Locator Service to Hearst's CAMP Systems - Boeing has signed an agreement to sell Inventory Locator Service to Hearst's CAMP Systems International. The transaction is subject to regulatory approval. The companies are not disclosing any terms of the transaction. Reference Link
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CHE | Hot Stocks12:19 EDT Chemed subsidiary acquires franchise operater for $120M - Roto-Rooter Services Company, a wholly owned subsidiary of Chemed Corporatio (CHE), announced it has acquired all of Hoffman Southwest Corporation's Roto-Rooter franchise operations for a purchase price of $120M. Hoffman Southwest is Roto-Rooter's largest independent franchise operator. The acquisition means that Roto-Rooter takes over fourteen franchise service operations in the western U.S. This is Roto-Rooter's largest franchise acquisition to date, with annual sales of $78M.
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JDST | Hot Stocks12:00 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares falls -10.2% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is down -10.2%, or -$1.93 to $16.91.
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SCO | Hot Stocks12:00 EDT Scor ADR falls -21.8% - Scor ADR is down -21.8%, or -$3.79 to $13.56.
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DWT | Hot Stocks12:00 EDT Britannia Bulk falls -32.8% - Britannia Bulk is down -32.8%, or -$2.13 to $4.36.
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CRC | Hot Stocks12:00 EDT California Resources rises 22.6% - California Resources is up 22.6%, or $2.68 to $14.50.
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WLL | Hot Stocks12:00 EDT Whiting Petroleum rises 36.5% - Whiting Petroleum is up 36.5%, or $2.75 to $10.29.
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SEMG | Hot Stocks12:00 EDT SemGroup rises 63.6% - SemGroup is up 63.6%, or $6.54 to $16.82.
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VLGEA | Hot Stocks11:53 EDT Village Super Market board of directors authorizes $5M share repurchase program - The company announced that its Board of Directors has authorized an incremental $5M share repurchase program, supplementing the current authorization, which had approximately $0.7M remaining as of September 13, 2019.
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AEGN | Hot Stocks11:32 EDT Aegion's Insituform awarded $6.9M wastewater pipeline rehabilitation contract - Aegion Corporation announced that its subsidiary, Insituform Technologies, has been awarded a wastewater pipeline rehabilitation contract valued at $6.9M from Baltimore County, Maryland. Insituform will rehabilitate more than 23,000 feet of 30- to 60-inch wastewater pipelines in residential and commercial areas throughout Baltimore County as well as near the Martin State Airport. Installation will begin in November 2019 and is expected to be completed within two years.
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BKR... | Hot Stocks11:25 EDT GE ceases to hold 50% of Baker Hughes voting power after secondary - Baker Hughes, a GE company (BHGE), announced the closing of a secondary offering of 132.25M shares of BHGE Class A common stock by General Electric (GE) at a price to the public of $21.50 per share. BHGE did not offer any shares of Class A common stock in the offering and did not receive any proceeds from the sale of shares in the offering. J.P. Morgan, Citigroup, Goldman Sachs and Morgan Stanley acted as joint lead book-running managers for the offering. BofA Merrill Lynch, BNP PARIBAS and Evercore ISI acted as joint book-running managers for the offering. In addition, BHGE announced that it repurchased from one or more of GE and its affiliates, in a privately negotiated transaction, 11,865,211 shares of BHGE Class B common stock together with an equal number of associated membership interests of Baker Hughes at a price equal to the price per share at which the underwriters purchased shares of Class A common stock from the selling stockholders in the offering. As a result of the offering, GE and its affiliates ceased to hold more than 50% of the voting power of all classes of BHGE's voting stock. Among other things, this reduced the number of individuals who GE is entitled to designate to BHGE's board of directors from five to one. GE has informed the company that it has selected John Rice to remain on the BHGE board of directors as its designee and that Jamie Miller and James Mulva will submit their resignations to the Conflicts Committee of the company's board. Lorenzo Simonelli and Geoffrey Beattie will continue to serve on the company's board of directors but not as GE designees. In addition, BHGE intends to change its corporate name to Baker Hughes Company, known as Baker Hughes. Following the name change, the Class A common stock will trade on the New York Stock Exchange under the symbol "BKR."
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HSC | Hot Stocks11:06 EDT Harsco Rail unit secures $290M rail equipment order in Germany - Harsco announced that its Rail division has secured a major order with European railway infrastructure manager DB Netz AG. The agreement -- the first ever between Harsco Rail and DB Netz -- calls for the development of as many as 56 catenary intervention and maintenance vehicles for the German railway system. The seven-year contract has a total value of $290M. The initial order quantity confirmed is 16 vehicles with delivery starting from 2022. It is expected that seven more machines will follow two years later.
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CNHI | Hot Stocks10:22 EDT CNH Industrial jumps 3% after report of activist investor Elliott taking stake
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SOL | Hot Stocks10:09 EDT ReneSola announces intended $11M investment by Shah Capital - ReneSola announced that its major shareholder, Shah Capital Opportunity Fund LP, has tentatively agreed to terms for the purchase of newly issued shares. The term sheet contemplates Shah purchasing 100,000,000 ordinary shares at a price of 11c per share, for a total consideration of $11M. The purchase price is equivalent to $1.10 per ADS, representing an approximately 12% premium based on the average closing price in the last 30 trading days. The company's American Depositary Shares each represent 10 ordinary shares.
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ESTA | Hot Stocks10:08 EDT Establishment Labs reports allowance for U.S. patent, 510(k) submission - Establishment Labs announced that the company has received a Notice of Allowance from the U.S. Patent and Trademark Office for a "key" patent application covering its proprietary implant surface technology acquired from the University of Manchester. Additionally, the company also announced the 510(k) submission for its SmoothSilk anatomical tissue expander. The company filed for CE Mark registration of its tissue expander during the fourth quarter of 2018.
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SASR | Hot Stocks10:03 EDT Sandy Spring Bancorp appoints Aaron Kaslow as EVP, general counsel - Sandy Spring Bank announced that Aaron Kaslow has joined the company as EVP and general counsel. He will be a member of the Executive Team. Kaslow has served Sandy Spring Bank for more than 10 years as outside counsel in his role as partner with Kilpatrick Townsend & Stockton LLP. Aaron succeeds Ron Kuykendall as Executive Vice President and General Counsel. Ron retired after serving nearly 20 years as Sandy Spring Bank's General Counsel and Secretary.
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ATUS AMZN | Hot Stocks10:01 EDT Altice USA to launch Amazon Prime Video on Altice One - Altice USA (ATUS) and Amazon (AMZN) announce plans to launch Amazon Prime Video on the Altice One entertainment and connectivity platform, providing access to the entire Prime Video catalog, including Amazon Originals like 2019 Emmy-winning The Marvelous Mrs. Maisel, Emmy-winning Fleabag and Emmy-nominated Tom Clancy's Jack Ryan and new releases Carnival Row, Undone and Late Night to Altice's Optimum and Suddenlink customers across the country. Altice One is a platform that combines 4K video, high-speed broadband, WiFi, and voice capabilities into a compact home hub with a personalized user interface, integrated access to streaming apps, and advanced search via a Bluetooth voice-activated remote control. This is the second innovative collaboration between Amazon and Altice USA; the two companies recently partnered on Altice Amplify, an intelligent home speaker that features high-fidelity audio from sound leader Devialet and Amazon Alexa Built-in for smart home control, including control of Altice One.
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UNT | Hot Stocks10:00 EDT Unit Corp. rises 22.3% - Unit Corp. is up 22.3%, or 74c to $4.06.
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WLL | Hot Stocks10:00 EDT Whiting Petroleum rises 38.4% - Whiting Petroleum is up 38.4%, or $2.90 to $10.44.
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SEMG | Hot Stocks10:00 EDT SemGroup rises 63.5% - SemGroup is up 63.5%, or $6.53 to $16.81.
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JPM | Hot Stocks09:55 EDT JPMorgan Securities fined $1.1M for failure to disclose misconduct allegations - FINRA announced it has censured and fined J.P. Morgan Securities LLC $1.1M for failing to timely disclose 89 internal reviews or allegations of misconduct by its registered representatives and associated persons spanning a six-year period. FINRA also required an undertaking by the firm to certify within 60 days that it has taken appropriate corrective measures. FINRA found that from January 2012 to April 2018, JPMS failed to disclose, or timely disclose, 89 internal reviews or allegations of misconduct by its registered representatives and associated persons, including misappropriation of customer and company funds, borrowing from customers, forgery or falsification or alteration of documents, unauthorized trading, making unsuitable recommendations, structuring and other suspicious activity. When JPMS eventually filed the required information with FINRA, it was, on average, more than two years late. Reference Link
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EYE | Hot Stocks09:48 EDT National Vision down 1% in early trading - National Vision shares are down 24c, or 1%, to $30.43 in early trading. The stock received a cautious mention from Pacific Square, according to contacts.
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IPIX | Hot Stocks09:32 EDT Innovation Pharmaceuticals expects trial of oral Brilacidin to start in December - Innovation Pharmaceuticals announced that BDD Pharma, the Company's formulation partner in the area of Inflammatory Bowel Disease, has performed appropriate non-clinical studies that show the oral dosage form meets in vitro specifications for selective delivery of oral Brilacidin to the colon. Brilacidin tablet design employs BDD Pharma's patented OralogiK technology to provide controlled erosion of a time-dependent barrier layer during small intestine transit. The first clinical trial of oral Brilacidin in the Company's Ulcerative Colitis program is planned to commence in December 2019 in healthy volunteers in the United Kingdom. It will assess the safety, toleration, pharmacokinetics of Brilacidin, and whether it is being dispersed directly in the colon. Trial data will provide the basis to move forward in clinical development and further build upon the compelling efficacy and good safety results already observed in a completed Phase 2 trial using Brilacidin in a retention enema.
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AJRD NOC | Hot Stocks09:29 EDT Aerojet Rocketdyne selected by Northrop Grumman for GBSD team - Aerojet Rocketdyne (AJRD) has been selected by Northrop Grumman (NOC) to be an integral part of its nationwide Ground Based Strategic Deterrent team. Northrop Grumman is competing for the Engineering, Manufacturing and Development phase of the GBSD program.
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PH | Hot Stocks09:27 EDT Parker-Hannifin sees Exotic Metals transaction accretive to EBITDA margin, EPS - Parker Hannifin Corporation completed its acquisition of Exotic Metals Forming Company LLC for $1.725B in cash. The transaction is expected to be accretive to Parker's organic growth, EBITDA margin, EPS and cash flow, after adjusting for one-time costs, and to achieve high single-digit ROIC in year five with continued expansion. Exotic's high-temperature engine build-up technologies, engine exhaust nozzles, complex engine turbine hot section assemblies, and airframe and engine ducting will complement Parker's portfolio of flight control, fuel and inerting, hydraulics, fluid conveyance and engine technologies. An integration team has been formed and a detailed integration plan is underway, which is expected to facilitate a smooth transition between Parker and Exotic and allow realization of synergies between the two organizations. Exotic Metals Forming will become a stand-alone division and will continue to be led by Bill Binder, formerly Exotic President and CEO.
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GEVO | Hot Stocks09:23 EDT Gevo secures renewable electricity for biofuel production processes - Gevo announced it secured the supply of 5.0 MW of fully renewable electricity for its Agri-Energy production plant located in Luverne, MN from an affiliate of Juhl Energy. The electricity generated from wind will be wired directly to Agri-Energy, enabling it to claim the renewable benefit of lower carbon intensity score under the Low Carbon Fuel Standard. As part of the project financing, Gevo invested $1.5M in the preferred stock of Juhl Clean Energy Assets out of a total funding round of $9M. JCEA is the owner and operator of the wind project and the funding round will enable the acquisition and construction of the wind towers needed to supply Agri-Energy. The wind electricity should be on-line and available to Gevo's Agri-Energy no later than mid-year 2020. Gevo's Agri-Energy has agreed to purchase the electricity from the City of Luverne, and the Renewable Energy Credits from an affiliate of JCEA. Gevo expects no material cost increase in its electricity pricing.
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RFL | Hot Stocks09:21 EDT Rafael Pharmaceuticals announces publication of two manuscripts on CP1-613 - Rafael Pharmaceuticals announced that peer-reviewed medical journal Future Oncology published two manuscripts about cancer metabolism and the company's lead drug candidate CPI-613. One paper addresses the evaluation of the efficacy of devimistat in the treatment of pancreatic cancer, authored by Dr. Philip Philip, oncologist and clinical professor of oncology at the Barbara Ann Karmanos Cancer Institute at Wayne State University. The other paper addresses the use of devimistat for the treatment of acute myeloid leukemia, authored by Dr. Jorge Cortes, director of the Georgia Cancer Center at Augusta University. Dr. Philip, principal investigator on Rafael's Phase III pancreatic cancer clinical trial, outlined the study of FOLFIRINOX (FFX) versus the combination of devimistat with modified FOLFIRINOX in patients with metastatic adenocarcinoma of the pancreas. Dr. Philip addressed the gaps in current pancreatic cancer treatments and the hope that cancer metabolism represents in the space. This is based on data from Phase 1 clinical trials of devimistat, which recorded a 61% objective response rate, including a 17% complete response rate. Dr. Cortes, principal investigator on Rafael's Phase 3 AML clinical trial, outlined the rationale and design of the clinical trial of devimistat in combination with high dose cytarabine and mitoxantrone compared with high dose cytarabine and mitoxantrone alone for older patients with relapsed or refractory AML. Dr. Cortes highlighted early data from the Phase 1/2 trials, where 52% of patients achieved complete remission or complete remission with incomplete hematologic recovery rate and a median survival of 12.4 months.
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BAC | Hot Stocks09:21 EDT Bank of America reports August net charge-offs 2.67% vs. 2.49% last month - Reports 30-plus day delinquencies 1.56% vs. 1.57% last month.
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FINGF... | Hot Stocks09:19 EDT Finning International awarded mining contract in Chile by Teck Resources - Finning International (FINGF) announced that its South American operation has been awarded a contract by Teck Resources (TECK) to deliver new equipment and product support to Teck's Quebrada Blanca Phase 2 operations in northern Chile. Finning will supply an initial fleet of Caterpillar 794AC electric drive off-highway trucks and other large mining machines to Teck's QB2 open pit copper mine. The accompanying product support agreement for the initial fleet runs for five years. In addition, Finning will work closely with Caterpillar (CAT) to provide Teck's QB2 operations with Caterpillar's Command for Hauling system, Caterpillar's 794AC AHS kits, and ancillary kits to enable autonomous operations as QB2 ramps up to full copper production in 2022.
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WETF | Hot Stocks09:16 EDT WisdomTree appoints Scott Welch as CIO, model portfolios - WisdomTree Investments announced that Scott Welch has joined the firm as chief investment officer - model portfolios. In this newly created role, Scott will oversee and lead WisdomTree's asset allocation team and investment committee, including other voting members Jeremy Schwartz, EVP and Global Head of Research and Rick Harper, Head of Fixed Income and Currency. He will be responsible for the performance and process of WisdomTree's ETF model portfolios, developing thoughtful investment research and content, managing model portfolio asset allocation and portfolio construction decisions and process and optimizing the Company's investment solutions for current and future advisors. Scott comes to WisdomTree from Dynasty Financial Partners, where he was the CIO for more than four years. Scott will report to Schwartz.
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KDP | Hot Stocks09:13 EDT Keurig Dr Pepper to create approximately 400 jobs in Pennsylvania - Keurig Dr Pepper announced plans to develop a new, state-of-the-art production and warehouse facility in Allentown, Pennsylvania. The company is expected to invest approximately $200M of capital and create nearly 400 jobs in the Allentown community. This new facility provides KDP additional, highly efficient capacity for existing and new brands. In addition, this facility will help the company optimize its logistics footprint in the Northeast by providing large-scale warehouse operations.
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AMIN | Hot Stocks09:13 EDT American International enters marketing services agreement with Scorpio Design - American International Holdings announced that it has entered into a marketing services agreement with Scorpion Design to assist in creating and managing various online marketing strategies and campaigns for its Novopelle branded Med Spa location in Mckinney, TX.
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ASPS | Hot Stocks09:11 EDT Vendorly provides value management solution to NTFN to assess vendor risk - Vendorly, a part of the Altisource Portfolio Solutions family of businesses, is providing NTFN with a third-party risk management solution to maximize the company's TPRM processes and minimize the risk presented by their large network of third-party vendors. Through the Vendorly solution, NTFN has been able to successfully streamline their vendor management procurement and vetting process, saving in excess of 50% of their prior vendor management spend.
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XOM... | Hot Stocks09:11 EDT Fly Intel: Pre-market Movers - HIGHER: Exxon Mobil (XOM) and Chevron (CVX), both up 3% after a jump in oil prices following drone strikes on an oil facility in Saudi Arabia that has many stocks in the energy sector up as well... Alder Biopharmaceuticals (ALDR), up 83% after entering a definitive agreement for Lundbeck to acquire the company. Under the terms of the agreement, Lundbeck offered an upfront payment for $18.00 per share in cash, along with one non-tradeable contingent value right, or CVR, that entitles shareholders to an additional $2.00 per share upon approval of eptinezumab by the EMA, representing a total potential consideration of $20.00 per share... SemGroup (SEMG), up 60% after agreeing to be acquired by Energy Transfer LP (ET) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5B... Centennial Resource Development (CDEV), up 16% amid general strength in energy stocks after SunTrust analyst Neal Dingmann upgraded the stock to Buy and raised his price target to $8 from $5. LOWER: New Relic (NEWR), down 14% after cutting its FY20 revenue outlook and announcing the resignations of its CTO and CRO... General Motors (GM), down 2.5% after reports of the United Auto Workers union's plans to strike against the company after the two sides did not reach a tentative deal before this weekend's deadline... Mallinckrodt (MNK), down 2% after its Purdue Pharma announced that it has reached an agreement in principle on a framework for settling the U.S. opioid litigation that included reorganization under Chapter 11 of the U.S. Bankruptcy Code. Mallinckrodt is facing similar opioid litigation.
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KINS | Hot Stocks09:11 EDT Kingstone Companies appoints Meryl Golden as COO - Kingstone Companies, or KINS, announced that Meryl Golden will be joining the senior management team at KINS, as its COO. Golden will hold the same position at Kingstone Insurance. Golden brings to Kingstone over 25 years of experience in the insurance industry, having previously held Northeast GM roles at both Progressive and Liberty Mutual. Most recently she was the head of business development for Arity's Insurance. Golden will drive strategic priorities and accountability inside Kingstone.
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SNES | Hot Stocks09:08 EDT SenesTech says approved for expanded use of ContraPest in California - SenesTech announced regulatory approval for expanded use of ContraPest in agricultural settings in California, and expanded sales to agricultural customers.
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PTVCA PTVCB | Hot Stocks09:08 EDT Protective Insurance appoints John Barnett as CFO, Bahr Omidfar as CIO - Protective Insurance Corporation announced John Barnett as the company's CFO, effective September 30, 2019, and Bahr Omidfar as the company's chief information officer, effective September 16, 2019. Barnett has most recently served as CFO and EVP of First Acceptance Corporation. Omidfar most recently served as CTO at CNA Insurance from January 2018 to April 2019.
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CERN MDT | Hot Stocks09:05 EDT Cerner appoints Darrell Johnson as CMO - Cerner Corporation (CERN) announced that Darrell Johnson is joining the company in the newly created role of chief marketing officer.w Johnson will work to develop new strategies, expand lines of revenue and help guide the organization through its next wave of growth. Johnson joins Cerner following a career at Medtronic (MDT), where he most recently served as vice president of corporate data strategy.
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SRPT | Hot Stocks09:04 EDT Sarepta director Richard Barry buys 5,000 shares - In a regulatory filing, it was disclosed that Sarepta director Richard Barry purchased 5,000 shares of Sarepta common stock in transactions at prices ranging from $87.44-$87.50 on September 12-13.
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EXPE UAL | Hot Stocks09:03 EDT Expedia, United Airlines announce multi-year agreement - Expedia Group (EXPE) announces that it has signed a new, multi-year agreement with United Airlines (UAL). This new agreement ushers in an expanded relationship, meeting the strategic objectives of both companies and benefiting travelers around the world. The agreement continues Expedia Group's leisure distribution with United, expands United's relationship with Expedia Partner Solutions, builds on United's relationship with Egencia, Expedia Group's corporate travel business, and the companies will work to expand cooperation into other areas in the near future.
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MGM | Hot Stocks09:01 EDT MGM Resorts says Tracinda completes sale of remaining interests - MGM Resorts was informed that Tracinda Corp., the holding company of MGM Resorts' late founder Kirk Kerkorian, fulfilled instructions from Kerkorian's will to "execute an orderly disposition" of MGM stock. Kerkorian passed away in June 2015.
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GRIF | Hot Stocks09:01 EDT Griffin executes tannounces Q3 leasing - Griffin Industrial Realty announced that in the three months ended August 31, 2019 it executed two new leases totaling approximately 87,000 square feet of previously vacant industrial/warehouse space and extended several leases with existing tenants totaling approximately 120,000 square feet of industrial/warehouse and office/flex space. Griffin's two new leases included the lease of approximately 64,000 square feet in 6975 Ambassador Drive, an approximately 134,000 square foot industrial/warehouse building in the Lehigh Valley of Pennsylvania that was built on speculation and completed in the fiscal 2018 fourth quarter and approximately 23,000 square feet of industrial/warehouse space that was entered into in connection with the tenant's lease renewal and expansion in one of Griffin's buildings in New England Tradeport, Griffin's industrial park located in Windsor and East Granby, Connecticut. In the 2019 third quarter, Griffin extended two leases aggregating approximately 80,000 square feet of industrial/warehouse space in NE Tradeport and extended a lease of approximately 29,000 square feet in one of Griffin's multi-story office buildings in Griffin Center in Windsor, Connecticut. There were also two lease extensions of office/flex space in Griffin Center South in Bloomfield, Connecticut, whereby the tenants reduced their aggregate space under lease from approximately 19,000 square feet to approximately 11,000 square feet in the 2019 third quarter. Subsequent to the end of the 2019 third quarter, Griffin executed a lease for approximately 74,000 square feet in 160 International Drive, one of its two soon to be completed industrial/warehouse buildings aggregating approximately 283,000 square feet in Concord, North Carolina, in the greater Charlotte area. Griffin expects these two industrial/warehouse buildings to be completed and placed in service in the fourth quarter of fiscal 2019.
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OMER | Hot Stocks08:51 EDT Omeros announces results from Phase 1 study in OMS527 program - Omeros announced results from its Phase 1 study with the lead compound in its OMS527 program. The OMS527 program is developing phosphodiesterase 7, or PDE7, inhibitors for the treatment of addictions and compulsive disorders as well as movement disorders. The Phase 1 study included single-ascending-dose and multiple-ascending-dose cohorts and was conducted in healthy volunteers. In the double blind, randomized Phase 1 study, the study drug, referred to as OMS182399, was administered to 47 healthy volunteers and met the primary endpoints of safety and tolerability. In the single-ascending-dose part of the study, fasted subjects received single oral doses of placebo or OMS182399 in five sequential ascending-dose cohorts. The study also included a single-dose cohort in non-fasting subjects. In the multiple-ascending-dose part of the study, non-fasting subjects received oral doses of placebo or OMS182399 once a day for 14 days in three sequential ascending-dose cohorts. The study demonstrated that OMS182399 was safe and well-tolerated over the dose ranges tested. The number of subjects reporting any treatment-emergent adverse event, or TEAE, was two out of 12 and eight out of 35 in the placebo and active groups, respectively. All TEAEs were mild in intensity and transient, the most frequent being headache; no serious AE or lab-related AE was reported and there was no dose dependency of AEs observed. No TEAE occurred in the highest dose group in the single-ascending-dose part of the study. OMS182399 showed a favorable and dose-proportional pharmacokinetic, or PK, profile supporting once-daily dosing and there was no apparent food effect on plasma exposure to OMS182399. Preclinical data show efficacy across multiple types of addiction and compulsive disorders, including nicotine, cocaine, opioids, alcohol and binge eating. Omeros' PDE7 inhibitors reduce craving and relapse but do not appear to be addictive nor to depress pleasure from normal activities.
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MBII | Hot Stocks08:48 EDT Marrone Bio announces closing of Pro Farm Technologies acquisition - Marrone Bio Innovations announced the closing of the previously announced acquisition of Finland-based Pro Farm Technologies OY, adding proprietary nutrient and biostimulant technology and products for seed and foliar treatments to its portfolio. Marrone Bio completed the acquisition of Pro Farm on September 13, 2019, for an agreed enterprise value of $31.8M, including a combination of $6.2M cash and 12.7M of Marrone Bio stock paid to Pro Farm's equity holders, debt holders and advisors in connection with the closing, as well as the opportunity for potential payment of a total of up to $7.5M of additional shares of stock deliverable from 2021 through 2024 based on the achievement of agreed commercial milestones. As a result of the acquisition, Pro Farm became a wholly owned subsidiary of Marrone Bio. In addition, on September 10, 2019, Pro Farm and Corteva Agriscience announced a strategic, long-term exclusive commercial agreement in Europe as part of Pro Farm's expansion plans. Together, they will develop and commercialize a suite of seed-applied biological products based on Pro Farm's proprietary technology platform. Corteva Agriscience will launch the first corn, sunflower and oilseed rape products based on Pro Farm's biological platform in Europe in the 2020/2021 season, with a target treatment coverage of more than 10M hectares.
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LKCO | Hot Stocks08:48 EDT Luokung Technology announces partnership with People's Daily Online - Luokung Technology announced it has entered into a strategic agreement with People's Daily Online Technology on establishing a strategic technology cooperative relationship. Both parties will promote in-depth cooperation on jointly development of but not limited to five fields, including news map and the platform for contents authors, cooperative operation on contents of trip services related to high-speed train, brand promotion cooperation, activity cooperation and talent exchange.
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PRSP | Hot Stocks08:47 EDT Perspecta wins position on $17.1B DIA SIA 3 contract - Perspecta announced that it was awarded a position on the Defense Intelligence Agency Solutions for Intelligence Analysis 3 multiple-award, indefinite-delivery/indefinite-quantity contract. This program, which represents new work for the company, has a five-year base and five, one-year options, with a total maximum value of $17.1B, if all options and funds are exercised. On the program, Perspecta will compete for task orders to deliver analytic support to multiple Department of Defense and Intelligence Community customers. Work on the program is expected to be performed at multiple sites in the continental U.S. and abroad through 2029.
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JFIN | Hot Stocks08:45 EDT Jiayin Group announces changes to collaboration with Shanghai Caiyin - Jiayin Group announced that Shanghai Niwodai Internet Finance Information Service has entered into a set of agreements revising the terms of its collaboration with Shanghai Caiyin Asset Management Co., a consolidated affiliated entity. Prior to the effectiveness of such Agreements, Shanghai Caiyin provided certain post-origination loan management services and manages the investor assurance program for loans facilitated by the Company prior to April 28, 2018, and will continue to provide these services subsequent to the effectiveness of the Agreements. As a result of such revisions, Shanghai Caiyin will no longer be a consolidated affiliated entity of the Company. On September 16, 2019, Niwodai Internet entered into an agreement with Shenzhen Rongxinbao Non-Financial Guarantee, an independent third-party guarantee company, and Shanghai Jiayin Finance Services, a company controlled by Dinggui Yan, the founder, director and CEO of the Company, which wholly owns the equity interest of Shanghai Caiyin, pursuant to which Shanghai Jiayin agreed to transfer all of its equity interest in Shanghai Caiyin to Shenzhen Rongxinbao. The transaction price will be determined based on a valuation of Shanghai Caiyin's net liabilities as of August 31, 2019 by a third-party valuation company, minus its payables to Niwodai Internet as of the same date. The valuation is expected to be completed by the end of September. Certain parts of the transaction price are contigent upon Shanghai Caiyin's liability status in the period proceeding December 31, 2022 and are subject to certain adjustments. The timing of the payment of the transaction price will be determined by further negotiation among Niwodai Internet, Shenzhen Rongxinbao and Shanghai Jiayin. Pursuant to the terms of the Agreement, as Shanghai Caiyin was in its liability position as of August 31, 2019 due to its collaboration with Niwodai Internet, Niwodai Internet will pay the transaction price to Shenzhen Rongxinbao. Shenzhen Rongxinbao has collaborated with the Company to provide and manage the investor assurance program for certain loans facilitated by the Company since April 2018. The Company considers the collaboration to be in good standing and mutually beneficial. The Company expects that, after the consummation of the disposal, Shanghai Caiyin will continue to provide services for loans under the investor assurance program it managed. The Company will continue to serve borrowers and investors in the online individual finance market as a transaction facilitator and information intermediary.
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STAF | Hot Stocks08:42 EDT Staffing 360 Solutions announces CFO David Faiman to depart - Staffing 360 Solutions announced that David Faiman, CFO, will be leaving the Company by December 31, 2019 and will assist in the orderly transition of his CFO responsibilities. CEO Brendan Flood said, "We've begun the search for a successor who will work to help us achieve our previously stated goal of generating $500M in profitable revenues. We are well positioned with a strong operational and financial foundation to continue to achieve our strategic goals and create shareholder value."
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MGPI... | Hot Stocks08:41 EDT MGP Ingredients appoints Kerry Walsh Skelly to board of directors - MGP Ingredients (MGPI) announced that retired Brown-Forman Corporation (BFA) executive Kerry Walsh Skelly was elected to its board of directors. Walsh Skelly held officer-level positions with Brown-Forman for more than 25 years until her retirement in 2018. Her last role with the company was as senior vice president of Corporate Affairs-EMEA.
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CLRB | Hot Stocks08:39 EDT Cellectar Biosciences presents data from Cohort 6 of CLR 131 Phase 1 study - Cellectar Biosciences announced CBO Jarrod Longcor presented data from Cohort 6 of its Phase 1 dose escalation study of CLR 131 in relapsed or refractory multiple myeloma, in a late breaker poster at the 17th International Myeloma Workshop. The poster, entitled: "CLR 131 Demonstrates High Rate of Activity in a Phase 1, Dose Escalation Study in Patients with Relapsed or Refractory Multiple Myeloma" highlights data from 4 subjects in Cohort 6 who received a fractionated dose of 37.5 mCi/m2. Subjects in this cohort achieved a 50% overall response rate, with two subjects achieving a partial response and two subjects achieving minimal responses. CLR 131 was deemed safe and tolerated in all subjects with cytopenias being the only reported treatment emergent adverse events of grade 3 or higher. The majority of the subjects had high risk cytogenetics where median bone marrow plasma cell involvement was 25%. Patients' median age was 72.5 and averaged 5 prior systemic therapies, with one patient being dual class refractory, one being quad-refractory, and two being penta-refractory. The Phase 1 study employs the International Myeloma Working Group criteria for measuring responses. The IMWG defines a partial response as a 50% reduction in the marker of disease and a minimal response as a 25% to 49.9% reduction. "Cohort 6's overall response rate of 50% with 100% disease control in highly chemo-refractory elderly patients highlights CLR 131's potential as a first-in-class targeted radiotherapeutic for relapsed or refractory multiple myeloma. We saw an encouraging dose response compared to prior cohorts and CLR 131 continues to demonstrate a favorable safety profile," said CEO James Caruso. "We have progressed to a higher 40 mCi/m2 fractionated dose Cohort 7, with data expected in Q4 2019. Additionally, based on the positive results from Cohort 6, we are now allowed to use the 37.5 mCi/m2 dosing level in our ongoing Phase 2 study evaluating CLR 131 in patients with relapsed/refractory B-cell malignancies and expect data from the Phase 2 trial in Q4 2019."
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AEMD | Hot Stocks08:34 EDT Aethlon Medical awarded contract from National Cancer Institute - Aethlon Medical announced that the National Cancer Institute has awarded the company an SBIR Phase 2 contract for Topic 359, a solicitation entitled "Technologies for Differential Isolation of Exosomes and Oncosomes." This solicitation prioritized the advancement of technologies for isolating exosomes from biofluids for applications in oncology research and clinical care. This contract will be funded with Federal funds from the NCI, National Institutes of Health, Department of Health and Human Services, under Contract No. 75N91019C00042.
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KSHB | Hot Stocks08:33 EDT KushCo enters exclusive distribution agreement with De La Rue - KushCo Holdings announced it has entered an exclusive distribution agreement with De La Rue, a company engaged in anti-counterfeiting and authentication solutions. In accordance with the agreement, KushCo will offer the growing cannabis industry standard and custom branded anti-counterfeit security labels. The solution will also provide unique IDs to support product serialization and a digital verification system to enable authentication throughout the regulated cannabis supply chain, it said. "It is our responsibility as a leader in the space to build consumer trust in addition to empowering governments and brands. Counterfeit products undermine the legitimate cannabis industry by hurting sales, cheating governments out of tax revenue, and eroding consumer confidence while putting their health at risk. KushCo wants to provide the tools for our clients to have greater transparency and accountability," said Nick Kovacevich, KushCo's CEO.
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SAVA | Hot Stocks08:33 EDT Cassava Sciences initiates Phase 2b clinical study of PTI-125 in Alzheimer's - Cassava Sciences reported initiation of a Phase 2b study of its lead drug candidate, PTI-125, in Alzheimer's patients. PTI-125 is a small molecule that targets the massive neuroinflammation and neurodegeneration observed in the Alzheimer's brain. In conjunction with the initiation of this Phase 2b study, Cassava Sciences also reported dosing of the first two patients for this study, both of which were uneventful. This Phase 2b study is supported by a research grant award from the National Institutes of Health. Initiation of the Phase 2b study follows results reported from a Phase 2a study, demonstrating 100% responder rate and statistically significant decreases in key biomarkers of Alzheimer's pathology, neuroinflammation and neurodegeneration.
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JAGX | Hot Stocks08:33 EDT Jaguar Health says Mytesi product approved for sale in Puerto Rico - Jaguar Health announced that the Drug and Pharmacy Division of the Government of Puerto Rico Health Department has approved the registration of Mytesi, the company's FDA-approved drug product indicated for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on antiretroviral therapy. The company's wholly-owned, human-health focused subsidiary, Napo Pharmaceuticals, Inc. is now able to begin marketing and selling Mytesi in Puerto Rico, a U.S. territory with a population of approximately 3.4 million people. "We're excited to be able to bring Mytesi to the Puerto Rico HIV population," Brian Sutton, Napo's national business director, commented, "and we're grateful to the multiple HIV treatment centers and clinical sites in Puerto Rico that supported development of Mytesi by participating in the pivotal ADVENT trial."
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BLPH | Hot Stocks08:32 EDT Bellerophon receives Orphan Drug Designation for nitric oxide in IPF treatment - Bellerophon Therapeutics announced the U.S. Food and Drug Administration has granted Orphan Drug Designation to nitric oxide for the treatment of Idiopathic Pulmonary Fibrosis. IPF is a progressive, irreversible and fatal interstitial lung disease characterized by thickening and scarring of the air sacs in the lungs affecting approximately 100,000 people in the U.S. and reducing their life expectancy to between two and five years from diagnosis. Bellerophon is currently conducting a Phase 2/3 study of nitric oxide and its proprietary INOpulse system to treat patients with IPF, as well as other pulmonary fibrotic diseases.
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MVBF | Hot Stocks08:32 EDT MVB Financial acquires Chartwell Compliance - MVB Financial announced Chartwell Compliance has joined the MVB family through its acquisition as a wholly-owned subsidiary of MVB Bank. Chartwell Compliance will retain its name and mission. Daniel Weiss, founder, will remain as President and CEO of Chartwell. Chartwell's 20 professionals from money services businesses, payments processors and state and federal financial regulation will continue to serve their clients across the nation and beyond with immediate plans to grow and expand services.
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SMP | Hot Stocks08:31 EDT Standard Motor names Nathan Iles as CFO - Standard Motor announced that Nathan Iles has been named the CFO of the company. As previously announced, Jim Burke, who served as CFO since 1999, has been promoted to COO and will assist in the transition of CFO duties to Iles. Iles most recently served as Vice President and CFO at UCI International Holdings, where he oversaw all the financial reporting for the company.
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DPGYF | Hot Stocks08:29 EDT Delphi Energy reports corporate production for July, August of 8,550 boe/d - Corporate production for the months of July and August averaged approximately 8,550 barrels of oil equivalent per day based on field estimates. Field condensate production for this period averaged 2,250 barrels per day and when combined with natural gas liquids, including propane, butane, pentanes and spec condensate recovered at natural gas processing plants, accounted for 40 percent of production. Higher liquid content of the corporate production mix has been driven by results at West Bigstone, particularly the new four-well pad located at 13-34-59-24W5. These four wells were brought on production in the second quarter of 2019 and continue to produce liquids at a much higher ratio compared to the rest of Delphi's Montney wells. Current liquid content including estimated natural gas liquids recoveries of 42 barrels per million cubic feet of natural gas sales, is 56 percent of production on a barrel of equivalent basis, with field condensate accounting for over 80 percent of the liquid production.
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DPGYF | Hot Stocks08:28 EDT Delphi Energy closes sale of portion of Alliance Service - Delphi Energy announces the closing of the sale of a portion of its Alliance Service and the execution of an Interconnection Development Agreement with Alliance Pipeline Limited Partnership to reactivate its lateral line to the company-owned Bigstone West Gas Plant located at 14-28-59-22W5M. As previously announced on June 17, 2019, Delphi has sold and permanently assigned 16M cubic feet of gas per day of its firm full-path service to the Chicago area on the Alliance pipeline system for $11.9M. As a result of Delphi's reduced firm transportation commitment on Alliance, Delphi's outstanding letters of credit associated with the Alliance service will be reduced by $1.8M Delphi is retaining approximately 29.8 mmcf/d of firm service and 7.5 mmcf/d of priority interruptible service on the Alliance pipeline system. The Company currently utilizes about 55 percent of the retained service. Due to the closing of this transaction, the borrowing base of the Company's senior credit facility has been reduced by $10.0M to $90.0M. The proceeds from the transaction have been used to repay bank debt. Currently, Delphi has $71M drawn on its $90M senior credit facility. Delphi and Alliance have entered into an agreement wherein the parties will exchange the following: Delphi will pay for the updating and reactivation of the Alliance Meter Station at the Bigstone Plant and commit to deliver approximately 10 mmcf/d at such delivery point; and Alliance will repair and reactivate the Bigstone Lateral that connects the Bigstone Plant to Alliance's natural gas mainline approximately 50 kilometres southwest of Fox Creek, Alberta. The planned in-service date for the re-activated lateral occurs in February of 2022. Currently, the Company's Amine facility sweetens Montney natural gas for further processing at the Bigstone Plant. The reactivation of the Bigstone Lateral will give Delphi access to the premium priced Chicago natural gas market for this in-field sweetened natural gas and increase access to the Alliance system to three of the four natural gas plants in which Montney natural gas is currently being processed. In light of the current and foreseeable natural gas market, the Company views natural gas market egress optionality, particularly to Chicago, as very strategic. Once the Bigstone Lateral is reactivated, approximately 95 percent of Delphi's natural gas production will be processed at the three natural gas plants that will be dually connected to the Alliance and TCPL pipeline systems.
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MOR JNJ | Hot Stocks08:26 EDT MorphoSys licensee Janssen submits sBLA for Tremfya to FDA - MorphoSys AG (MOR) announced that its licensee Janssen Research & Development, LLC (JNJ) issued a press release to report the submission of a supplemental Biologics License Application to the U.S. Food and Drug Administration seeking approval of Tremfya for the treatment of adult patients with active psoriatic arthritis. As Janssen announced, the sBLA is based on results from the phase 3 studies DISCOVER-1 and DISCOVER-2, which met their primary endpoints of patients achieving an American College of Rheumatology 20 percent improvement response after 24 weeks of treatment. According to Janssen, the safety profile observed for Tremfya in the DISCOVER studies was generally consistent with previous studies as well as the current Tremfya prescribing information. The DISCOVER program comprises the first phase 3 studies evaluating a human monoclonal antibody against the p19 subunit of interleukin-23 for active PsA, and the results have been submitted for presentation at an upcoming medical meeting, as Janssen stated. Dr. Markus Enzelberger, Chief Scientific Officer of MorphoSys AG, said: "Active psoriatic arthritis is very debilitating for patients, limitating mobility, causing pain and continuous fatigue. We are pleased that with submission of the Tremfya sBLA, our partner Janssen is advancing PsA treatment options and we hope that, given FDA approval, Tremfya might become a valuable therapy in this indication." According to Janssen, the company expects to submit a marketing application to the European Medicines Agency seeking approval of Tremfya as a treatment for PsA before the end of the year.
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TRHC | Hot Stocks08:24 EDT Tabula Rasa says DoseMe receives user-friendly rating in clinical study - Tabula Rasa HealthCare announced an independent study evaluating Bayesian Forecasting programs found TRHC's DoseMe BF program, DoseMeRx, to be the most user-friendly. BF programs, such as DoseMeRx, use patient data and laboratory results to estimate a patient's ability to process a drug. Using a published population model, the program adjusts the pharmacokinetic parameters and provides an individualized dosing recommendation to reach a therapeutic target. Published in the British Journal of Clinical Pharmacology, the purpose of the study was to evaluate three BF programs, of which DoseMeRx was one, on their user-friendliness and common liked and disliked features through a study of hospital pharmacists. Twenty-seven clinical pharmacists across three teaching hospitals that were not currently using a BF program participated.This is the first ever user-friendly evaluation of these programs with end-users, according to the BJCP article titled, "An Evaluation of the User-friendliness of Bayesian Forecasting in a Clinical Setting."
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PEI | Hot Stocks08:22 EDT Pennsylvania REIT CFO Bob McCadden to leave, Mario Ventresca to succeed - PREIT announced its intention to promote Mario Ventresca, Jr., Executive Vice President - Operations, to Executive Vice President and CFO. He will replace current Executive Vice President and CFO Bob McCadden who will leave the company effective December 31. McCadden will transition his current responsibilities to Ventresca over the balance of the year.
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MJARF | Hot Stocks08:21 EDT MJardin Group announces supply contract with ACA Muller - MJardin Group announces a supply contract with ACA Muller ADAG Pharma Vertriebs, a subsidiary of Franchise Cannabis, for the supply offtake of a total of 2,250 kg of medical cannabis over a nine month period in 2020 from MJardin's 48,000 square foot Halifax facility. ACA Muller has committed to purchase 250 kgs a month of high THC medical cannabis flower during Q1 to Q3 2020 at a set price throughout the year. AMI remains on track for EU GMP Certification by the end of this year and is expected to add an additional 20,000 square feet by Q1 2020.
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SIEGY | Hot Stocks08:18 EDT Siemens Mobility, Skkynet collaborate on secure IIoT - Skkynet Cloud Systems announced a cooperative agreement with Siemens Mobility GmbH to provide a highly secure Industrial IoT hardware and software combination. Siemens Mobility's Data Capture Unit ensures one-way data flow will be connected to industrial and corporate software using Skkynet's DataHub real-time middleware, allowing secure access to plant data by corporate IT staff and cloud services in real time.
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FLGT | Hot Stocks08:17 EDT Fulgent Genetics launches genetic testing offering Picture Genetics - Fulgent Genetics announced the launch of Picture Genetics, a new line of at-home genetic testing offerings for the everyday consumer. Picture Genetics will offer three separate consumer-initiated screening tests, which will enable individuals to access Fulgent's advanced genetic testing and analytics capabilities from the ease and comfort of home at an affordable price point. Picture Genetics offers a holistic approach to at-home genetic screening by including oversight from independent physicians as well as genetic counseling options to complement Fulgent's comprehensive genetic testing analysis.Picture Genetics will offer three distinct at-home test options: Picture Parenting, Picture Newborn, and Picture Wellness.
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HES... | Hot Stocks08:17 EDT Hess Corp. announces oil discovery offshore Guyana at Tripletail - Hess Corporation (HES) announced a discovery at the Tripletail-1 well on the Stabroek Block offshore Guyana. Tripletail-1 encountered approximately 108 feet of a high quality oil bearing sandstone reservoir. Tripletail-1, drilled in 6,572 feet of water, is located approximately 3 miles northeast of the Longtail discovery. After completion of operations at Tripletail, the Noble Tom Madden drillship will next drill the Uaru-1 well, located approximately 6 miles east of the Liza Field. Exploration and development activities continue to advance elsewhere on the Stabroek Block. The Stena Carron drillship is currently drilling the Ranger-2 well and upon completion will conduct a well test at Yellowtail-1. The Noble Bob Douglas drillship is currently completing development drilling operations for the Liza Phase 1 project. The operator will add a fourth drillship, the Noble Don Taylor, in October 2019; drilling plans continue to be optimized based on well results and ongoing study of the basin. Previously announced plans call for at least five floating production, storage and offloading (FPSO) vessels on the Stabroek Block, producing more than 750,000 barrels of oil per day by 2025. The Liza Phase 1 development is on track to start up by early 2020 and will produce up to 120,000 gross barrels of oil per day utilizing the Liza Destiny FPSO, which arrived in Guyana on August 29, 2019. The Stabroek Block is 6.6 million acres. ExxonMobil (XOM) affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC (CEO), holds 25 percent interest.
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SATS | Hot Stocks08:16 EDT Hughes awarded $2.2M contract by U.S. Air Force - Hughes Network Systems announced it has been awarded a $2.2M contract funded by the U.S. Air Force Space and Missile Systems Center, through the Space Enterprise Consortium, to produce an Enterprise Management and Control prototype for satellite communications. The prototype will include the Hughes Flexible Modem Interface which will enhance interoperability across military and commercial SATCOM networks to form a unified hybrid network architecture. Under the agreement, Hughes will demonstrate a solution that enables automated mission planning for SATCOM terminals to roam between networks through automated control processes. In this way, when an active transmission becomes degraded or disrupted, the terminals can "self-heal" to maintain connectivity using alternate networks, enabling higher resiliency.
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WY | Hot Stocks08:15 EDT Weyerhaeuser to sell Michigan timberlands Lyme Great Lakes Holding for $300M - Weyerhaeuser announced an agreement to sell its 555,000 acres of Michigan timberlands to Lyme Great Lakes Holding, an affiliate of The Lyme Timber Company, for $300M in cash. The company expects to recognize a gain on the sale and anticipates no tax liability in conjunction with the transaction. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter.
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MANT | Hot Stocks08:14 EDT ManTech awarded $322M task order to support U.S. MCIA - ManTech announced that it has been awarded a five-year $322M task order to support the U.S. Marine Corps Intelligence Activity. ManTech was awarded this contract under the Department of Defense Information Analysis Center's Multiple-Award Contract. ManTech will develop technical recommendations on application of IT, process and policy improvements, systems integration and cyber operations, and provide analytics of geospatial intelligence for the U.S. Marine Corps, Expeditionary Operating Forces and the Intelligence Community.
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UIS | Hot Stocks08:14 EDT Unisys names Mike Thomson as permanent CFO - Unisys announced the appointment of Mike Thomson as permanent CFO. Thomson, who joined Unisys in December 2015 as corporate controller and principal accounting officer, was named interim CFO in April.
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SGEN ALPMY | Hot Stocks08:13 EDT Seattle Genetics, Astella: FDA grants priority review for enfortumab vedotin BLA - Seattle Genetics (SGEN) and Astellas Pharma (ALPMY) announced that the U.S. FDA has accepted the Biologics License Application for the investigational agent enfortumab vedotin and granted Priority Review for the treatment of patients with locally advanced or metastatic urothelial cancer who have received a PD-1/L1 inhibitor and who have received a platinum-containing chemotherapy in the neoadjuvant/adjuvant, locally advanced or metastatic setting. The filing is based on results from the first cohort of patients in the EV-201 pivotal phase 2 clinical trial that were presented as a late-breaking oral presentation at the annual meeting of the American Society of Clinical Oncology in June 2019. Under the Prescription Drug User Fee Act, the FDA has set a target action date of March 15, 2020. Enfortumab vedotin is a novel investigational antibody-drug conjugate that targets Nectin-4, a protein that is highly expressed in urothelial cancers.
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HSC | Hot Stocks08:12 EDT Harsco secures $290M rail equipment contract from DB Netz - Harsco Corporation announced that its Rail division has secured a major order with Europe's railway infrastructure manager DB Netz AG. The agreement calls for the development of as many as 56 catenary intervention and maintenance vehicles for the German railway system. The seven-year contract has a total value of $290M. The initial order quantity confirmed is 16 vehicles with delivery starting from 2022. It is expected that seven more machines will follow two years later.
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NUAN | Hot Stocks08:10 EDT Nuance announces 'when-issued' trading in connection with spin-off - Nuance Communications announced that, in connection with the previously announced spin-off of Cerence, it has been advised by Nasdaq that shares of Cerence common stock begin trading on a "when-issued" basis on the Nasdaq Global Select Market under the symbol "CRNCV" and will continue through October 1, 2019. Sales and purchases of Cerence common stock on a "when-issued" basis are made conditionally on the distribution of the shares, and the sales and purchases generally settle within three trading days after the Distribution Date. Following the Distribution Date, shares of Cerence common stock are expected to trade "regular-way," at which time Cerence common stock will trade under the symbol "CRNC" on the Nasdaq Global Select Market. Nuance has also been advised by Nasdaq that shares of Nuance common stock begin trading today on an "ex-distribution" basis on the Nasdaq Global Select Market under the symbol "NUANV" and will continue through the Distribution Date. Shares of Nuance common stock that trade in the "ex-distribution" market will trade without an entitlement to shares of Cerence common stock distributed in the spin-off. At the same time, Nuance shareholders who sell shares of Nuance common stock in the "regular-way" market up to and including the Distribution Date will be selling their right to receive shares of Cerence common stock in the spin-off.
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ABT SNY | Hot Stocks08:10 EDT Abbott, Sanofi partner on glucose sensing, insulin delivery technologies - Abbott (ABT) and Sanofi (SNY) are partnering to integrate glucose sensing and insulin delivery technologies that would help to further simplify how people with diabetes manage their condition. The two companies will take an innovative approach to connected care by developing tools that combine the revolutionary FreeStyle Libre technology with Sanofis insulin dosing information for future smart pens, insulin titration apps and cloud software. The non-exclusive collaboration will initially enable data sharing, at the consent of the user, between Abbotts FreeStyle Libre mobile app and cloud software and Sanofis connected insulin pens, apps and cloud software that are currently in development. This data sharing will enable both people with diabetes and their doctors to make better informed treatment decisions around medication, nutrition and lifestyle. Sanofi is currently working to provide connected pens, apps and cloud software that will be compatible with the FreeStyle Libre system and its compatible digital health tools. The two companies aim to bring this to people with diabetes within the next few years, pending local regulatory approvals.
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SGEN ALPMY | Hot Stocks08:09 EDT Seattle Genetics, Astellas Pharma get FDA priority review for enfortumab vedotin - Seattle Genetics (SGEN) and Astellas Pharma (ALPMY) announced that the FDA has accepted the biologics license application, or BLA, for the investigational agent enfortumab vedotin and granted priority review for the treatment of patients with locally advanced or metastatic urothelial cancer who have received a PD-1/L1 inhibitor and who have received a platinum-containing chemotherapy in the neoadjuvant/adjuvant, locally advanced or metastatic setting. The filing is based on results from the first cohort of patients in the EV-201 pivotal phase 2 clinical trial that were presented as a late-breaking oral presentation at the annual meeting of the American Society of Clinical Oncology, or ASCO, in June. Under the Prescription Drug User Fee Act, or PDUFA, the FDA has set a target action date of March 15, 2020. Enfortumab vedotin is a novel investigational antibody-drug conjugate that targets Nectin-4, a protein that is highly expressed in urothelial cancers. The FDA granted enfortumab vedotin breakthrough therapy designation in March 2018, for patients with locally advanced or metastatic urothelial cancer whose disease has progressed during or following checkpoint inhibitor therapy.
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PXLW SIGM | Hot Stocks08:09 EDT Pixelworks appoints Elias Nader as CFO - Pixelworks (PXLW) announced the appointment of Elias Nader as CFO, effective September 16, 2019. Nader succeeds Steven Moore, who previously held the role for more than 12 years. Moore will remain engaged as a consultant to the Company through February 2020 to assist with the transition. Nader most recently served as the interim president and CEO of Sigma Designs (SIGM).
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SITO | Hot Stocks08:07 EDT Sito Mobile to acquire MediaJel in all-stock transaction - SITO Mobile and MediaJel, a leading provider of advertising and marketing solutions for the cannabis industry, announced that they have entered into a definitive agreement pursuant to which SITO will acquire 100% of the equity interests of MediaJel. Under the terms of the proposed transaction, the shareholders of MediaJel will exchange 100% of their shares of capital stock for newly issued shares of common stock of SITO and MediaJel will become a wholly owned subsidiary of SITO. At closing, the holders of capital stock of MediaJel will receive an aggregate of 20M shares of SITO common stock, subject to adjustment in certain events. As a result, assuming no events occur requiring an adjustment and no other shares are issued by SITO prior to the closing, the current shareholders of MediaJel and current shareholders of SITO are expected to hold approximately 44% and 56%, respectively, of the issued and outstanding shares of the SITO following the closing of the transaction. Jake Litke, the CEO of MediaJel, and Jonathan Black, the COO of MediaJel, will continue to run MediaJel after the transaction and will be appointed as CEO and COO, respectively, of SITO upon consummation of the proposed transaction. Gregg Saunders, the current CFO of SITO, will remain as CFO following the proposed transaction. Tom Pallack, SITO's current CEO, will transition to the role of a consultant to the company. At the closing, SITO and the current MediaJel stockholders expect to enter into a stockholders agreement pursuant to which the MediaJel stockholders will have the right to appoint up to three out of seven members of SITO's board of directors upon the closing and to have such director designees nominated for reelection at the 2020 and 2021 annual meetings of SITO's stockholders. The Boards of Directors of both SITO and MediaJel have unanimously approved the proposed transaction. Completion of the transaction, which is expected in the fourth quarter of 2019 or first quarter of 2020, is subject to approval by the stockholders of MediaJel and SITO and other customary closing conditions.
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AMRK | Hot Stocks08:07 EDT A-Mark Precious Metals appoints Kathleen Simpson-Taylor as CFO - A-Mark Precious Metals has appointed EVP, controller and assistant secretary Kathleen Simpson-Taylor, CPA as CFO, effective September 30, 2019. Simpson-Taylor will replace Cary Dickson, who has served as CFO of A-Mark since November 2015. Dickson, who has commuted daily from Orange County to the company's headquarters in El Segundo for the past four years, elected to step down as CFO to pursue an opportunity close to home. Dickson's resignation was not a result of any disagreements with the company relating to its financials, operations, policies or practices.
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CENT | Hot Stocks08:07 EDT Central Garden & Pet appoints Timothy Cofer as CEO Business Wire - Sep 16 08:0 - Central Garden & Pet (CENT) said that its board has appointed Timothy Cofer as CEO, effective October 14. Cofer will also join the company's board. Cofer succeeds George Roeth, who, as previously announced, will retire from his management and board positions at the end of the company's fiscal year on September 28. The company also announced that its Founder and Former CEO, Bill Brown, has been re-appointed chairman of its board. Brown succeeds Brooks Pennington III, who will remain on the board. Cofer most recently worked for over 25 years at Mondelez (MDLZ).
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ALNA | Hot Stocks08:06 EDT Allena Pharmaceuticals completes enrollment in Phase 3 URIROX-1 trial - Allena Pharmaceuticals announced that it has completed enrollment in its pivotal Phase 3 URIROX-1 clinical trial. URIROX-1 is a multi-center, global, randomized, double-blind, placebo-controlled trial evaluating the efficacy and safety of reloxaliase for the treatment of patients with enteric hyperoxaluria. The company expects to report topline data from the trial in the fourth quarter of 2019.
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AXP | Hot Stocks08:05 EDT American Express reports August net write-off rate 2.3% vs. 2.2% last month - Reports August 30 days past due loans 1.5% vs. 1.4% last month.
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BCDA | Hot Stocks08:05 EDT BioCardia says DSMB recommends continuation of Phase 3 CardiAMP trial - BioCardia announced that the independent Data Safety Monitoring Board has completed its prespecified data review for the Phase III pivotal CardiAMP Heart Failure Trial, which included safety follow-up results on 35 patients and all additional data available on the 50 patients randomized in the trial as of August 31, 2019. The DSMB indicated there were no safety concerns with the CardiAMP study results and recommended that the trial continue, as planned. The ongoing multi-center, double-blinded, randomized, sham-controlled pivotal CardiAMP Heart Failure Trial is expected to enroll 260 patients at up to 40 centers nationwide. The trial's primary efficacy endpoint is Six Minute Walk distance at 12 months' post-treatment, a measure of a patient's exercise capacity, and incorporates the impact of MACE and other clinically meaningful events. Secondary efficacy endpoints include quality of life as measured by the Minnesota Heart Failure Quality of Life self-assessment, and superiority relative to MACE and survival. The national co-principal investigators are Amish Raval, MD, of the University of Wisconsin and Carl Pepine, MD, of the University of Florida, Gainesville. The next prespecified DSMB review is anticipated in the first quarter 2020.
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FVE | Hot Stocks08:05 EDT Five Star Senior Living announces one-for-ten reverse stock split - Five Star Senior Living announced that its board has approved a one-for-ten reverse stock split of its outstanding shares of common stock effective as of the close of trading on September 30 in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq's Marketplace Rule 5550. At the effective time, each 10 Five Star common shares outstanding immediately prior to the effective time will be converted into one issued and outstanding Five Star common share. No fractional common shares will be issued in connection with the reverse stock split. Each Five Star stockholder that would have been entitled to receive a fractional common share as a result of the reverse stock split will receive cash in lieu of such fractional common share. Five Star expects that a new CUSIP number will be issued for the common shares. The Five Star common shares will begin trading on Nasdaq on a split adjusted basis at the open of trading on October 1. The par value of the Five Star common shares will remain unchanged at 1c per share after the reverse stock split. The reverse stock split will reduce the number of common shares issued and outstanding from approximately 50.8M to approximately 5.1M. The number of authorized common shares will remain the same.
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XOM | Hot Stocks08:04 EDT ExxonMobil announces oil discovery offshore Guyana at Tripletail - ExxonMobil said it made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block. Tripletail-1 encountered approximately 108 feet of a high-quality oil bearing sandstone reservoir. Tripletail-1, drilled in 6,572 feet of water, is located approximately 3 miles northeast of the Longtail discovery. After completion of operations at Tripletail, the Noble Tom Madden drillship will next drill the Uaru-1 well, located approximately 6 miles east of the Liza field.
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NNBR | Hot Stocks08:04 EDT NN, Inc. names Warren Veltman as interim CEO, succeeding Richard Holder - NN, Inc. announced that its Board of Directors has appointed Warren Veltman, Executive Vice President of the company's Mobile Solutions group, as the company's interim President and CEO, effective immediately. He succeeds Richard Holder who, by mutual agreement with the Board, is stepping down as President and CEO as well as from his role as a director.
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OR PVG | Hot Stocks08:03 EDT Osisko Gold to sell Brucejack offtake to Pretium Resources for $41.3M - Osisko Gold Royalties (OR) announces that Osisko Bermuda, a wholly owned subsidiary of Osisko, has entered into an agreement with Pretium Exploration, a subsidiary of Pretium Resources (PVG) in regards to the sale of OBL's interest in the Brucejack gold offtake contract for a cash purchase price of $41.3M The Sale is expected to close on September 30th. Pretium will make a payment of $31.2M to OBL on the Closing Date, with the remainder of the Purchase Price to be paid on November 30, 2019. Osisko expects to use the proceeds from the Sale to fund additional investments. As of the date hereof, OBL will no longer receive any deliveries under the Offtake Agreement. Since purchasing the Offtake Agreement in 2017, OBL has realized approximately $4.5M in cash margins. Under the Offtake Agreement, Pretium had an option on December 31st 2019 to repurchase up to 75% of OBL's share of the Brucejack gold offtake by making a payment of $13 per ounce of remaining contained gold under the contract. Osisko's 2019 guidance included 500 GEOs from the Brucejack offtake for the fourth quarter.
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AXTA | Hot Stocks08:02 EDT Axalta Coating to acquire Capital Paints, terms not disclosed - Axalta Coating Systems announced that it has entered into a definitive agreement to acquire Capital Paints, a UAE-based thermosetting powder coatings manufacturer specializing in architectural powder coatings. The transaction is subject to required regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter. Financial terms of the transaction were not disclosed.
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SITO | Hot Stocks08:01 EDT Sito Mobile to acquire MediaJel in all-stock transaction
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BKYI | Hot Stocks07:59 EDT New Hampshire Retirement Systems selects BIO-key to secure member data - BIO-key International announced that New Hampshire Retirement Systems has selected BIO-key to enhance online security of member data by adding a layer of biometric authentication. NHRS will use BIO-key's ID Director for Windows software solution to seamlessly leverage the advanced biometric sign-in capabilities of Windows 10. To support the solution, NHRS is deploying two BIO-key finger scanners: its EcoID scanner for PCs and laptops that operates on any flat surface and its SideSwipe compact scanner that plugs directly into the USB port of a laptop or tablet.
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AMZN | Hot Stocks07:49 EDT Amazon expands Chicago tech hub, plans to create 400 new jobs - Amazon announced an expansion of its Chicago tech hub and plans to create 400 new tech jobs in fields including cloud computing, advertising and business development. To accommodate this job creation, Amazon will expand its office in downtown Chicago by more than 70,000 square feet, allowing the company to double its tech workforce in the city.
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PRIM | Hot Stocks07:45 EDT Primoris announces three Canadian awards valued over $43M - Primoris Services Corporation announced three new awards with Canadian customers for work in Northern Alberta, Canada with a combined anticipated value over $43M. The contracts were secured by Primoris Canada, part of the Power, Industrial, and Engineering segment. The first award is for work on a multi-discipline project. Major components of the work include pipeline corridor and facility earthwork, structural steel and electrical. Work commenced in the third quarter of 2019, and completion is expected in the fourth quarter of 2019. The second award is for work on a mine tailings infrastructure project. The scope comprises civil, structural, and piping. Work commenced in the third quarter of 2019, and completion is expected in the fourth quarter of 2019. The third award is for a three-year Master Service Agreement to provide fabricated pipe spools and bends with chromium carbide overlay. While the agreement does not obligate the customer to award Primoris a specific dollar amount, our discussions and history with the customer form the basis for our anticipated value.
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CYTK | Hot Stocks07:42 EDT Cytokinetics announces data from Phase 1 study of CK-3773274 - Cytokinetics announced data from the Phase 1 study of CK-3773274 were presented in a poster session at the HFSA 23rd Annual Scientific Meeting in Philadelphia. The study met its primary and secondary objectives to assess the safety and tolerability of single and multiple oral doses of CK-274, describe the pharmacokinetics of CK-274 and its pharmacodynamic effects as measured by echocardiography, as well as to characterize the PK/PD relationship with regards to cardiac function. These data support the advancement of CK-274 into a Phase 2 clinical trial in patients with obstructive hypertrophic cardiomyopathy which is expected to begin in Q4 2019. CK-274 is a novel selective cardiac myosin inhibitor, discovered by company scientists, in development for the potential treatment of hypertrophic cardiomyopathy. The primary objective of this Phase 1 double-blind, randomized, placebo-controlled, multi-part, single and multiple ascending dose study was to assess the safety and tolerability of CK-274 in healthy volunteers. The study design included single ascending dose cohorts and multiple ascending dose cohorts, with eight healthy subjects per cohort. Additional objectives included to describe the PK of CK-274 and its PD effects as measured by echocardiography, as well as to characterize the relationship between the two with regards to cardiac function. This study was not designed to identify a maximum tolerated dose of CK-274. The study demonstrated that CK-274 was safe and well tolerated in healthy participants. No serious adverse events and no clinically meaningful changes in vital signs, ECGs or laboratory tests were observed. Stopping criteria for continued dose escalation were reached after a single dose of 75 mg and after 14 days of a daily of 10 mg dose. Decreases in ejection fraction below 50% were readily reversible within six hours following single doses and within 24-48 hours following 14 days of dosing. The pharmacokinetics of CK-274 were generally dose linear, and steady-state appeared evident within 14 days of dosing. Left ventricular ejection fraction decreased in an exposure dependent manner and the PK/PD relationship for CK-274 observed in humans was similar to that observed preclinically when adjusted for differences in protein binding. Specifically, the shallow exposure-response relationship observed preclinically appears to translate to humans and thereby may enable flexible dose optimization in humans. Cytokinetics expects to begin a randomized, placebo-controlled Phase 2 trial of CK-274 in patients with symptomatic obstructive HCM later this year. The primary objective of the planned trial is to assess the safety and tolerability of CK-274 in these patients. Secondary objectives are to assess the PK and PD of CK-274 in these patents, guided by echocardiography, with two-week dose titration. CK-274 will be added to stable background medical therapy.
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KURA | Hot Stocks07:41 EDT Kura Oncology doses first patient in Phase 1 trial of KO-539 in AML - Kura Oncology announced that the first patient has been dosed in a Phase 1 clinical trial of KO-539, the company's inhibitor of the menin-mixed lineage leukemia interaction, in patients with relapsed or refractory acute myeloid leukemia. This Phase 1, open-label, dose-escalation study is designed to determine the maximum tolerated dose of KO-539 in patients with relapsed or refractory AML. KO-539 will be administered as a once daily oral dose in 28-continuous-day cycles. Upon completion of the dose-escalation portion of the trial, expansion cohorts are planned to further asses the safety and activity of KO-539 in specific genetic subgroups, such as NPM1. In July 2019, the U.S. Food and Drug Administration granted Orphan Drug Designation to KO-539 for the treatment of AML, recognizing the potential for KO-539 to address a population of patients with high unmet need.
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WGO | Hot Stocks07:39 EDT Winnebago to acquire Newmar Corporation for approx. $344M - Winnebago Industries announced that it has entered into a definitive agreement to acquire Newmar Corporation, a manufacturer of Class A and Super C motorized recreation vehicles for total consideration valued at approximately $344M, based on the closing price of Winnebago Industries stock on September 13, 2019. The consideration consists of $270M in cash and a fixed amount of 2 million shares of Winnebago Industries stock, and represents a multiple of 5.2x Newmar's last twelve months June 2019 Adjusted Earnings before Interest, Taxes, Depreciation, Amortization, and certain non-recurring expenses , adjusted for the value of the tax assets and anticipated run-rate net synergies of $5M. The privately-owned company manufactures premium Class A luxury, diesel and gas, and Super C motorhomes and generated revenue of $661M and an Adjusted EBITDA of $55.2M as of LTM June 2019. Following the close of the transaction, Newmar will operate as a distinct business unit within Winnebago Industries with its headquarters and manufacturing facilities remaining in Nappanee, IN. Matthew Miller will continue to lead the Newmar business post-closing as its President. The transaction is expected to be significantly accretive to Winnebago Industries' free cash flow, supporting the rapid reduction of debt and facilitating strategic investments in the business. The transaction is expected to be immediately accretive to Fiscal 2020 cash earnings per share, excluding transaction costs, impacts of purchase accounting, and before giving effect to anticipated synergies. The acquisition is expected to create a minimum of $5M in annual run-rate net cost synergies, phased in over three years, driven by strategic sourcing opportunities and the sharing of manufacturing and operational best practices. Upon closing, Winnebago Industries expects to have a net debt to Adjusted EBITDA ratio of approximately 2.1x, inclusive of anticipated annual run-rate net synergies. Winnebago Industries expects to reduce its net debt to Adjusted EBITDA ratio within stated target of 0.9x to 1.5x by the end of Fiscal 2020. Immediately following the transaction, Newmar shareholders will own approximately 6% of Winnebago Industries shares outstanding. The transaction is expected to close in Winnebago Industries' first quarter of Fiscal 2020, subject to regulatory approvals and other customary closing conditions.
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WPC | Hot Stocks07:37 EDT W.P. Carey announces three recent industrial investments totaling about $111M - W. P. Carey announced three recent industrial investments totaling approximately $111M. The investments comprise operationally-critical properties triple-net leased to industry-leading tenants with a weighted-average lease term of approximately 22 years.
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ET | Hot Stocks07:35 EDT Energy Transfer LP to construct 75-mile crude pipeline in Texas - Energy Transfer announced plans to construct an approximately 75-mile crude oil pipeline between the Houston Ship Channel and Nederland, Texas to provide a strategic connection between two of the largest crude oil terminals in the U.S., Energy Transfer's Nederland terminal and the HFOTCO terminals. The Ted Collins Pipeline, in conjunction with the combined companies' oil transportation assets, will provide Energy Transfer's customers with best-in-class access to the Houston, Beaumont/Port Arthur, and St. James markets. This will provide immediate access to over one million barrels per day of existing crude oil export capacity, with plans to expand to over two million barrels, at the Nederland and the HFOTCO terminals. The Ted Collins Pipeline is expected to have an initial capacity of more than 500 thousand barrels per day. Energy Transfer anticipates commercial operations to begin in 2021. Energy Transfer's vast network of pipelines, which handles over four million barrels per day, will also allow customers the flexibility to access its previously announced Very Large Crude Carrier, or VLCC, project planned from its Nederland terminal.
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CARS | Hot Stocks07:35 EDT Cars.com announces record-setting traffic growth in August - Cars.com announced record traffic across its network as it continues to take audience share within the market. The company's strategic investment in marketing and technology is driving unprecedented audience growth-more than 50.3M car shopper visits in August, a 26.8% increase versus the same time last year and the highest ever for the business.
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ALNY | Hot Stocks07:35 EDT Alnylam initiates Phase 3 APOLLO-B trial - Alnylam announced that the company has initiated APOLLO-B, a global Phase 3 placebo-controlled clinical trial of patisiran, an intravenously administered RNAi therapeutic, for the treatment of transthyretin amyloidosis, or ATTR amyloidosis, with cardiomyopathy. The primary endpoint is the change from baseline in the 6-minute walk test, or 6-MWT, at 12 months. Secondary endpoints will evaluate the efficacy of patisiran on quality of life using the Kansas City Cardiomyopathy Questionnaire Overall Summar, and composite endpoints of mortality and hospitalization.
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UXIN | Hot Stocks07:34 EDT Uxin announces resignation of COO William Peng - Uxin announced that William Peng has resigned as the company's COO, effective September 15, 2019, due to his pursuit of other career interests in the investment area. Kun Dai, founder, chairman and CEO, will directly oversee the company's business operations going forward. This aligns well with the company's growth strategy, the evolving business model and related operational changes underway
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ET SEMG | Hot Stocks07:34 EDT Energy Transfer LP to acquire SemGroup in cash/unit deal valued at $17 per share - Energy Transfer (ET) announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup (SEMG) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion, based on the closing price of ET common units on September 13. The merger consideration consists of $6.80 in cash and 0.7275 of an ET common unit for each outstanding share of Class A Common Stock of SemGroup, or 40% cash and 60% equity. This represents a 65% premium to the closing price of SemGroup shares as of September 13. The transaction is expected to close in late 2019 or early 2020, subject to the approval by SemGroup's stockholders and other customary regulatory approvals. Upon the closing, SemGroup stockholders are expected to own approximately 2.2% of Energy Transfer's outstanding common units. "Energy Transfer's acquisition of SemGroup will increase Energy Transfer's scale across multiple regions and provide increased connectivity for Energy Transfer's crude oil and NGL transportation businesses." This acquisition also expands Energy Transfer's crude oil and NGL infrastructure by adding crude oil gathering assets in the DJ Basin in Colorado and the Anadarko Basin in Oklahoma and Kansas, as well as crude oil and natural gas liquids pipelines connecting the DJ Basin and Anadarko Basin with crude oil terminals in Cushing, Oklahoma. The transaction, which is expected to have no material impact on credit metrics, increases Energy Transfer's portion of fee-based cash flows from fixed-fee contracts and is expected to be immediately accretive to distributable cash flow per common unit. Also, beyond the equity issued for the transaction, no common equity issuances are expected. The combination of Energy Transfer's significant infrastructure with SemGroup's complementary assets will allow the combined company to pursue additional commercial opportunities and to achieve cost savings while enhancing Energy Transfer's ability to serve customers. The combined company expects to generate more than $170 million of annual run-rate synergies, consisting of commercial and operational synergies of $80 million, financial savings of $50 million and cost savings of $40 million.
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VRAY | Hot Stocks07:33 EDT Penn State Health enters into Master Purchase Agreement with ViewRay - ViewRay announced that Penn State Health has entered into a master agreement for the purchase of up to four MRIdian systems, placing an order for its first system today. Penn State Health, which includes the Milton S. Hershey Medical Center and St. Joseph Medical Center, has selected MRIdian to offer personalized, precise radiation therapy in its community centers, delivering world-class care to the patients it serves.
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WVE | Hot Stocks07:33 EDT Wave Life Sciences announces Fast Track Designation from FDA for suvodirsen - Wave Life Sciences announced that the U.S. Food and Drug Administration has granted Fast Track designation to suvodirsen for the treatment of Duchenne muscular dystrophy in patients amenable to exon 51 skipping. The designation was based on comprehensive in vitro and in vivo nonclinical data that support the potential for suvodirsen to address a significant unmet medical need. Suvodirsen is currently being evaluated in an ongoing open-label extension study for DMD patients amenable to exon 51 skipping. Wave remains on track to deliver an interim analysis of dystrophin expression from muscle biopsies in boys receiving suvodirsen in the OLE study in the fourth quarter of 2019. Pending positive clinical dystrophin expression data, the company expects to file for an accelerated approval of suvodirsen in the U.S. in the second half of 2020. Suvodirsen is also currently being studied in DYSTANCE 51, a global Phase 2/3, multicenter, randomized, double-blind, placebo-controlled trial that will evaluate the efficacy and safety of suvodirsen. Results from the DYSTANCE 51 trial are intended to support global regulatory filings for suvodirsen. The study is also the first ever selected by the FDA for its Complex Innovative Trial Design pilot program. Suvodirsen has also been granted orphan drug designation for the treatment of DMD by the FDA and the European Commission, as well as rare pediatric disease designation by the FDA. In addition to suvodirsen, Wave continues to advance WVE-N531, its preclinical candidate to treat DMD in boys amenable to exon 53 skipping. The company is also exploring exon targets beyond those targeted by suvodirsen and WVE-N531, including exons 44, 45, 52, 54 and 55.
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ET SEMG | Hot Stocks07:33 EDT Energy Transfer LP to acquire SemGroup in cash/unit deal valued at $17 per share
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QCOM | Hot Stocks07:32 EDT Qualcomm acquires remaining interest in RF360 Holdings - Qualcomm announced a significant milestone in its 5G strategy and leadership by completing the acquisition of the remaining interest in RF360 Holdings Singapore Pte. Ltd., a joint venture with TDK Corporation. Together with Qualcomm Technologies, the joint venture has produced RF front-end filters which enable Qualcomm Technologies to deliver complete 4G/5G RFFE solutions. With this acquisition, Qualcomm Technologies is able to provide customers a complete end-to-end solution from modem to antenna, the Qualcomm Snapdragon 5G Modem-RF System, including the world's first commercial 5G NR sub-6 and mmWave solutions, integrating power amplifiers, filters, multiplexers, antenna tuning, LNAs, switching and envelope tracking products. TDK Electronics' remaining interest in the joint venture was valued at $1.15B in August. The total purchase price, including the initial investment, payments to TDK based on sales by the joint venture, and development obligations, will be approximately $3.1B.
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SEMG ET | Hot Stocks07:32 EDT SemGroup to be acquired by Energy Transfer for approx. $5.1B - SemGroup Corporation (SEMG) announced it has entered into a definitive merger agreement whereby SemGroup will be acquired by Energy Transfer LP (ET) in a unit and cash transaction valued at approximately $5.1B, including the assumption of debt and other liabilities. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, SemGroup shareholders will receive $6.80 per share in cash and 0.7275 of an ET common unit for each SemGroup share, or approximately 40% cash and 60% equity. The equity consideration received is expected to be treated as a tax-free transaction. The transaction values SemGroup at $17.00 per share, and represents a 65% premium to SemGroup's closing share price of $10.28 on September 13, 2019, and an 87% premium to SemGroup's 20 day volume weighted average price as of the same date. Upon closing, SemGroup shareholders are expected to own approximately 2.2% of ET's outstanding common units. The transaction is expected to close by late 2019 or early 2020, subject to obtaining regulatory approvals, SemGroup shareholder approval and other customary closing conditions.
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ADS | Hot Stocks07:30 EDT Alliance Data reports August net charge offs 5.7% vs. 5.7% last month - Reports August delinquency ratio 5.6% vs. 5.5% last month.
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SLCA | Hot Stocks07:27 EDT Proppant Express Investments says USPTO invalidates Sandbox patent claims - Proppant Express Investments announced that the United States Patent and Trademark Office through the Patent Trial and Appeal Board invalidated patent claims of a SandBox Logistics patent.Specifically, the PTAB found that all 18 claims of Sandbox's U.S. Patent 9,440,785 challenged by PropX are unpatentable in an inter partes review proceeding. SandBox is a subsidiary of U.S. Silica Holdings. With this ruling, the PTAB has issued rulings on all the asserted patents currently challenged by PropX through IPR proceedings and, in each case, has invalidated the majority of claims from the SandBox patents. The PTAB has invalidated 53 patent claims which were contained in four patents challenged by PropX.
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TGLS EC | Hot Stocks07:22 EDT Tecnoglass appoints Carlos Alfredo Cure Cure to board of directors - Tecnoglass (TGLS) announced the appointment of Carlos Alfredo Cure Cure to its board of directors, replacing Samuel Azout, who has chosen to resign from the board for personal reasons. Cure Cure currently acts as external advisor to Grupo Olimcpica and is the former president of the Board of Directors of Ecopetrol (EC).
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DNTUF | Hot Stocks07:19 EDT Dentsu says 90% of global offices now powered by renewable electricity - Dentsu Aegis Network announced that 90% of its offices globally are now powered by renewable electricity. The company said, "This milestone demonstrates strong progress towards the marketing group's 2020 commitment to purchasing 100% renewable electricity and sends a strong demand signal to the market." In the last six months, Dentsu Aegis Network has partnered with Natural Capital Partners to purchase energy attribute certificates in all markets in the Americas, 99.7% of EMEA and 69% of APAC. Electricity currently makes up approximately 30% of Dentsu Aegis Network's reported global carbon emissions. Switching to renewable electricity will also drive progress towards Dentsu Aegis Network's goal of reducing its carbon footprint by 40% per person by 2020.
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HIL | Hot Stocks07:17 EDT Hill International awarded contract from Saudi Telecom Company for consulting - Hill International announced it has been awarded a contract to provide project management consulting services for the Saudi Telecom Company's redesigned master plan for their current King Abdul-Aziz Telecommunication Complex. The project involves developing infrastructure including roads, underground services networks, cables, landscape and hardscape, new buildings, and the renovation and facelift of existing buildings as per the approved master plan design. The project consists of a headquarters building, an administration building, a multistory car park, multipurpose buildings, and recreation facilities comprising food and beverage outlets, health club and spa facilities, meeting facilities, retail, and a mosque. Hill will manage the design, supervision, and construction process to help ensure that STC and end-user requirements are implemented and achieved.
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MYGN | Hot Stocks07:16 EDT Myriad Genetics announces research collaboration with University of Leeds - Myriad Genetics announced it will collaborate with the Leeds Centre for Personalised Medicine and Health to evaluate the clinical utility of the Prolaris test in men diagnosed with prostate cancer. The study will recruit 100 men and will evaluate the effect of the Prolaris test result on doctors' and patients' decisions about treatment and on costs of using the test routinely in the National Health Service. If a man's Prolaris test result shows that their prostate cancer is low risk, they may choose to avoid or delay having invasive treatment such as surgery or radiotherapy. In addition to the costs, those treatments have associated risks of bowel and urinary problems as well as erectile dysfunction. The LCPMH, hosted by the University of Leeds and a project of the Leeds Academic Health Partnership, is coordinating the study. It designed the study in partnership with Leeds Teaching Hospitals NHS Trust, the Leeds Institute of Health Sciences and the University of Leeds.
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NEWR | Hot Stocks07:15 EDT New Relic appoints Michael Christenson as COO, announces two resignations - New Relic announced current board member Michael Christenson will join the company as president and COO, a newly created position, on October 1. CTO, Jim Gochee, and chief revenue officer, or CRO, Erica Schultz, have resigned. Christenson joins from his role at Allen & Company and will report to Lew Cirne, CEO of New Relic. In this role, he will oversee go-to-market and business operations across the company. He will remain on the New Relic board.
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NXST... | Hot Stocks07:15 EDT Nexstar, Fox Broadcasting renew affiliation agreements - Nexstar Media Group (NXST) and Fox Broadcasting Company, a subsidiary of Fox Corporation (FOXA, FOX) announced a multi-year agreement that renews FOX network affiliations for stations that Nexstar owns, operates, programs or provides services to, in 31 markets that reach approximately 8% of the U.S. In addition, the new agreement will also cover the eight FOX affiliates that Nexstar is acquiring from Tribune Media, upon closing of the acquisition. Following its pending acquisition of Tribune, Nexstar will own, operate, program or provide services to FOX affiliates in 39 markets and will be the largest independent operator of FOX-affiliated stations, covering 16% of the U.S. and serving more than 17.5 million households.
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KPTI | Hot Stocks07:15 EDT Karyopharm, Healthcare Royalty Partners enter royalty agreement up to $150M - Karyopharm Therapeutics announced its entry into a royalty agreement with HealthCare Royalty Partners for up to $150M to support the ongoing development and commercialization of XPOVIO, the Company's oral SINE compound, which is currently marketed in the U.S. for the treatment of patients with heavily pretreated multiple myeloma. Selinexor is also in late-stage clinical development for the treatment of patients with relapsed or refractory multiple myeloma who have had one to three prior lines of therapy and for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma. Under the terms of the agreement, Karyopharm will receive $75M at closing this month and is eligible to receive an additional $75 Mupon the achievement of future regulatory and commercial milestones and subject to approval by both parties. In exchange for the amount received at the initial closing, HCR will receive a tiered royalty in the mid-single digits based on worldwide net revenues of XPOVIO and any other future products. Karyopharm expects that the $75M initially received from HCR under this royalty agreement, combined with its existing cash, cash equivalents and investments, together with the cash expected to be generated from product sales, will be sufficient to fund its operations into the middle of 2021. XPOVIO received accelerated approval from the U.S. Food and Drug Administration on July 3, 2019 for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, at least two immunomodulatory agents, and an anti-CD38 monoclonal antibody. This indication is approved under accelerated approval based on response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial. A Marketing Authorization Application seeking conditional approval for selinexor is currently under review by the European Medicines Agency and Karyopharm expects to receive a decision on the MAA by early 2020.
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TNXP | Hot Stocks07:12 EDT Tonix Pharmaceuticals announces publication of paper on TNX-1600 - Tonix Pharmaceuticals announced the publication of a paper entitled "D-578, an orally active triple monoamine reuptake inhibitor, displays antidepressant and anti-PTSD effects in rats" in the European Journal of Pharmacology. The paper summarizes the behavioral pharmacological characterization of a novel triple reuptake inhibitor, TNX-1600, formerly known as D-578, which exhibits nanomolar potency at all three monoamine transporters and exhibited little to no affinity for other off-target central nervous system receptors. TNX-1600 was found to have greater efficacy in normalizing traumatic stress-induced extinction-retention learning in an animal model for posttraumatic stress disorder compared to paroxetine, a selective serotonin reuptake inhibitor, which is approved by the U.S. Food and Drug Administration to treat PTSD and other psychiatric conditions. These findings suggest TNX-1600 may reduce maladaptive retention of fearful memories via attenuation of the extinction learning and extinction retention deficits induced by traumatic stress, supporting further testing of this agent for the pharmacotherapy of PTSD. Additionally, TNX-1600 showed a robust effect in an animal model associated with antidepressant activity without affecting locomotor activity.
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WSR | Hot Stocks07:11 EDT Whitestone REIT announces dismissal of plaintiffs class action case - Whitestone REIT announced that on August 8, 2019, the Plaintiff gave voluntary notice of dismissal in the case Canion v. Mastandrea, et al. In addition, on August 14, 2019, the Plaintiff voluntarily dismissed the case Clark, et al. v. Whitestone REIT, et al. Both of these cases - a consolidated class action lawsuit and derivative action lawsuit - were before the U.S. District Court for the Southern District of Texas, Houston Division. "We are pleased that both of these baseless lawsuits have been dropped by the respective Plaintiffs," stated CEO Jim Mastandrea. "This outcome validates our position that the claims were entirely without merit and removes any real or perceived market overhang on our stock price. We are continuing to execute on our key strategic initiatives and remain laser focused on creating value for shareholders by operating our e-commerce resistant, service-based business model, pursuing accretive asset acquisitions in our core growth markets, enhancing our existing properties, further scaling our G&A and lowering our cost of capital. We made measurable progress in the second quarter of 2019, during which we signed 92 new, expansion and renewal leases, totaling 283,777 square feet. We also completed construction and leasing at our Anthem Marketplace development property in Phoenix, Arizona, generating additional annual net operating income of $226,000, representing an unlevered 10.5% return on cost. I am excited about our recent accomplishments and look forward to building on our progress and delivering strong earnings growth."
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TAC | Hot Stocks07:11 EDT TransAlta announces $2B clean energy investment plan - TransAlta announces its Clean Energy Investment Plan, which includes converting its existing Alberta coal assets to natural gas and advancing its leadership position in renewable energy. The total cost of the plan is expected to be approximately $2B which includes approximately $800M of renewable energy projects already under construction. TransAlta's plan includes converting three of its existing Alberta thermal units to gas in 2020 and 2021 by replacing existing coal burners with natural gas burners. The company will also convert two of its units to highly efficient combined cycle natural gas units in the late 2023 to late 2024 period. The highlights of these gas conversion investments include: Positioning TransAlta's fleet as a low-cost generator in the Alberta energy-only market; Generating attractive returns by leveraging the company's existing infrastructure; Significantly extending the life and cash flows of the Alberta thermal assets; and Significantly reducing air emissions and costs. The company's Clean Energy Investment Plan also consists of the four wind projects in the United States and Alberta that are currently under construction. These projects are underpinned by long-term power purchase agreements with highly creditworthy counterparties. The Clean Energy Investment Plan will be funded from the cash raised earlier this year through the strategic investment with an affiliate of Brookfield Renewable Partners, cash generated from operations, and through TransAlta Renewables Inc. In addition to funding the plan, the company remains committed to returning up to $250M to shareholders over the next three years through share repurchases and reducing its corporate level debt by $400M in 2020. The company has adopted, based on TransAlta level deconsolidated cash flows, a Debt/EBITDA target of 3.0x or less, and a dividend policy of returning between 10% and 15% of TransAlta deconsolidated Funds from Operations to common shareholders. The credit metrics and dividend policy are being presented on a deconsolidated basis, allowing investors to understand how the dividends received from TransAlta Renewables is either being returned or invested for TransAlta shareholders.
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AKCA IONS | Hot Stocks07:09 EDT Akcea Therapeutics presents data from Phase 1 trial of AKCEA-TTR-LRx - Akcea Therapeutics (AKCA), an affiliate of Ionis Pharmaceuticals (IONS), presented data from the Phase 1 clinical trial of AKCEA-TTR-LRx in a poster presentation at the Heart Failure Society of America 23rd Annual Scientific Meeting in Philadelphia, Pennsylvania. AKCEA-TTR-LRx is an antisense drug developed using Ionis' proprietary LIgand Conjugated Antisense technology platform. It was discovered by Ionis and is being co-developed by Ionis and Akcea. AKCEA-TTR-LRx is designed to inhibit the production of transthyretin, or TTR, and is being studied in patients with both the hereditary and the wild type forms of TTR amyloidosis or ATTR. The goal of the Phase 1 study was to assess the effects of AKCEA-TTR-LRx on TTR levels in healthy volunteers. In the randomized, double-blind, placebo-controlled, dose-escalation study healthy volunteers were administered AKCEA-TTR-LRx or placebo via a single subcutaneous injection or once every four weeks for 13 weeks followed by an additional 13-week period where patients did not receive treatment. Results from the Phase 1 study show: Patients who received injections of 45mg monthly achieved a mean reduction in TTR levels of 86% at Week 13. Patients who received injections of 90mg monthly achieved a mean reduction in TTR levels of 94% at Week 13. Patients who received a single 120mg injection achieved a mean TTR reduction of 86% at Week 4. All adverse events were mild with the exception of one moderate AE. No AEs led to an interruption in dosing. There were no severe adverse events in patients treated with AKCEA-TTR-LRx. Akcea and Ionis also plan to initiate the Phase 3 program for AKCEA-TTR-LRx later this year.
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UTX HRS | Hot Stocks07:08 EDT Otis Elevator Co. appoints Rahul Ghai as CFO - Otis Elevator Co. announces the appointment of Rahul Ghai as CFO, reporting directly to Otis President & CEO, Judy Marks. Otis is a unit of United Technologies Corp. (UTX). Ghai most recently served as senior vice president and CFO of Harris (HRS).
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VRCA | Hot Stocks07:07 EDT Verrica Pharmaceuticals submits NDA for VP-102 for treatment of molluscum - Verrica Pharmaceuticals announced that it has submitted a New Drug Application to the U.S. Food and Drug Administration for VP-102, a proprietary topical therapy, for the treatment of molluscum contagiosum. The 505(b)(1) NDA is supported by the positive results from two double-blind Phase 3 trials that evaluated the safety and efficacy of VP-102 compared to placebo in patients two years of age and older diagnosed with molluscum. The CAMP-1 and CAMP-2 studies enrolled 528 patients in total and were conducted at 31 centers in the United States. Each trial demonstrated superior efficacy of VP-102 compared to placebo with statistically significant differences on the primary endpoint of complete clearance of all treatable molluscum lesions. Specific results from CAMP-1 and CAMP-2 demonstrated 46% and 54%, respectively, of subjects treated with VP-102 achieved complete clearance at day 84, versus 18% and 13% of subjects in the placebo groups. By the end of the trials, VP-102 treated subjects had a 69% and 83% mean reduction in molluscum lesions, a pre-specified endpoint, in CAMP-1 and CAMP-2, respectively, compared to a 20% increase and 19% reduction for subjects on placebo. VP-102 was well-tolerated in both trials, with no serious adverse events reported in VP-102 treated subjects. Verrica has been granted a waiver by the FDA for the NDA application user fee under the small business waiver provision of the Federal Food, Drug and Cosmetic Act.
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TAST | Hot Stocks07:07 EDT Carrols Restaurant appoints Timothy LaLonde as interim CFO - Carrols Restaurant Group announced that it has named Timothy LaLonde as interim CFO, interim Treasurer, and interim Vice President effective today. As previously announced, the company is conducting a search for a permanent CFO to replace the late Paul R. Flanders, who passed away on September 7. LaLonde was most recently the CFO at Dinosaur Restaurants.
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DLR | Hot Stocks07:07 EDT Digital Realty collaborates with Mapletree on $1.4B data center porfolio - Digital Realty announced it has entered into definitive agreements with affiliates of Mapletree Investments Pte Ltd and Mapletree Industrial Trust for the sale of a portfolio of 10 Powered Base Building data centers and the establishment of a joint venture on three existing Turn-Key Flex hyper-scale data centers. The total consideration for both transactions will be approximately $1.4B. Under the terms of the agreements, Mapletree Investments and Mapletree Industrial Trust will acquire the Powered Base Building portfolio from Digital Realty for a total purchase price of approximately $557M. These 10 properties are fully leased and are expected to generate 2020 cash net operating income of approximately $37M, representing a 6.6% cap rate. Digital Realty will provide transitional property management services for the Powered Base Building portfolio for one year from the closing date at a customary market rate. Separately, an entity jointly owned by Mapletree Investments and Mapletree Industrial Trust will purchase an 80% interest, and Digital Realty will retain a 20% interest, in a joint venture on three fully stabilized hyper-scale facilities located in Ashburn, Virginia. Mapletree Investments and Mapletree Industrial Trust will acquire its 80% stake for approximately $811M, valuing these three assets at approximately $1B. These three facilities are fully leased and are expected to generate 2020 cash net operating income of approximately $61M, representing a 6.0% cap rate. Digital Realty will continue to operate and manage these facilities, and the transaction will be completely seamless from a customer perspective.
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HLNE | Hot Stocks07:05 EDT Hamilton Lane appoints Niki Mangos as CTO - Hamilton Lane announced the appointment of Niki Mangos as its chief technology officer, based in the firm's Bala Cynwyd headquarters.Prior to Hamilton Lane, Mangos was CIO at Brandywine Global Investment Management. Mangos joins Hamilton Lane as Olin Honore, Head of Information Technology, shifts his focus to facilities management as the firm readies its move to a new corporate headquarters building.
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AZN | Hot Stocks07:05 EDT AstraZeneca reports FDA Fast Track designation for Farxiga in heart failure - AstraZeneca announced that the U.S. Food and Drug Administration has granted Fast Track designation for the development of Farxiga to reduce the risk of cardiovascular death, or the worsening of heart failure, in adults with heart failure with reduced ejection fraction or preserved ejection fraction. Farxiga is currently approved as a monotherapy and as part of combination therapy to improve glycaemic control in adults with type-2 diabetes. In August 2019 the FDA granted Fast Track designation for the development of Farxiga to delay the progression of renal failure and prevent CV and renal death in patients with chronic kidney disease.
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IRDM | Hot Stocks07:04 EDT Iridium awarded $738.5M contract by the U.S. Department of Defense - Iridium announced that it has been awarded a $738.5M, seven-year, fixed-price contract with the United States Department of Defense through the U.S. Air Force Space Command to provide unlimited satellite services from its unique Low Earth Orbit constellation. Through what is known as the AFSpC's Enhanced Mobile Satellite Services program, Iridium will continue to deliver access to global secure and unsecure voice, broadcast, netted or Distributed Tactical Communications System and select other services for an unlimited number of DoD and associated DoD-approved subscribers.
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AVXL | Hot Stocks07:04 EDT Anavex announces preliminary efficacy data of Phase 2 trial of ANAVEX 2-73 - Anavex Life Sciences announced preliminary clinical data of the U.S. Phase 2 Rett syndrome clinical trial. Preliminary Clinical Data is derived from the ANAVEX 2-73-RS-001 study on the first 6-patient cohort ranging in age from 18 to 36 years who completed the pharmacokinetic part of the study and who received a low dose of approx. 5 mg daily oral liquid dose of ANAVEX 2-73 for 7 weeks. Patients are continuing participation in the ANAVEX 2-73-RS-001 open label extension study. Both efficacy endpoints, the Rett Syndrome Behaviour Questionnaire and the Clinical Global Impression - Improvement showed significant improvement with respect to baseline after 7 weeks of treatment. The RSBQ Total average scores improved from 50 to 34 points and the CGI-I scores were positively correlated with RSBQ Total scores at 7 weeks. Supporting the clinical assessments, plasma levels of the biomarker Glutamate also decreased significantly and levels of Glutamate at Week 7 were directly correlated with CGI-I scores at Week 7 with greater decreases in Glutamate associated with greater improvement in these efficacy scores. Glutamate is the main excitatory neurotransmitter in the brain and is known to be higher in patients with Rett syndrome compared to healthy subjects in the brain, as measured by magnetic resonance imaging spectroscopy, as well as in cerebrospinal fluid and blood plasma. Additionally, the magnitude of GABA change was inversely correlated with the magnitude of decrease in RSBQ Total scores and GABA changes demonstrated an inverse correlation of the magnitude of Glutamate changes. An independent DSMB review determined that ANAVEX 2-73 was well tolerated, with no SAEs reported and with all patients completing the study. Therefore, the DSMB issued a positive recommendation for the continuation of the Phase 2 Rett syndrome study without any modifications. Neurobehavioral effects of ANAVEX2-73 previously observed in preclinical studies were also detected in patients with Rett syndrome, pointing to the ability of translation of preclinical to clinical data. ANAVEX 2-73 has received orphan drug designation from the FDA and EMA for the treatment of Rett syndrome.
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JEF SPB | Hot Stocks07:03 EDT Jefferies Financial Group announces special dividend of Spectrum Brands stock - Jefferies Financial Group (JEF), which currently owns 7,514,477 shares, or approximately 15.4%, of the common stock of Spectrum Brands (SPB), announced that its Board of Directors has approved a distribution to stockholders of Jefferies of these Spectrum Brands shares. Jefferies will distribute the 7,514,477 Spectrum Brands shares through a special pro rata dividend effective on October 11, to Jefferies' stockholders of record as of the close of business on September 30. Stockholders of Jefferies will receive approximately 0.025 of a share of Spectrum Brands common stock for each share of Jefferies common stock held as of the Record Date. Based on closing market prices on September 13, the dividend reflects a distribution of approximately $1.50, or 7.4%, per Jefferies share.
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ZBH | Hot Stocks07:02 EDT Zimmer Biomet receives FDA 510(k) clearance for JuggerStitch meniscal device - Zimmer Biomet has announced 510(k) clearance from the U.S.FDA for the JuggerStitch meniscal repair device. The JuggerStitch device is the next generation of this pioneering meniscus repair technology to receive 510(k) clearance and it will now be available to the U.S. market.
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EYEG | Hot Stocks07:01 EDT EyeGate says reaches 75% randomization of patients in pivotal study - EyeGate Pharmaceuticals announced that it has completed randomization of over 75% of the patients required for its corneal wound repair pivotal study using the Ocular Bandage Gel eye drop. The pivotal study will enroll up to 270 patients requiring corneal wound repair following photorefractive keratectomy surgery. After enrolling, each patient is required to attend a formal screening to determine their suitability for the surgery. If approved, the surgery is scheduled for approximately 2 weeks post the screening visit, after which the patient is randomized into either the OBG or standard-of-care group. The patient is then required to return for 2 weeks of follow-up visits where the success of their randomized treatment is measured.
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IDXG | Hot Stocks06:56 EDT Interpace Diagnostics enters strategic partnership with Genecast Biotechnology - Interpace Diagnostics Group's subsidiary, Interpace BioPharma, announced that it has entered into a partnership agreement to jointly develop, promote, and offer translational studies and clinical trial solutions to biotech and pharmaceutical companies with Genecast Biotechnology Co. of the Peoples Republic of China. Genecast is a leader in offering diagnostic products and services in the field of oncology and providing a wide range of diagnostic services to pharmaceutical and biotech companies in the PRC. According to the agreement, Interpace BioPharma will perform services worldwide except in the PRC, while Genecast will provide services in the PRC.
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TKR | Hot Stocks06:53 EDT Timken to acquire BEKA Lubrication for about $165M - Timken has reached an agreement to acquire BEKA Lubrication for approximately $165M. The company serves a diverse range of industrial sectors including wind, food and beverage, rail, on- and off-highway and other process industries. BEKA sales are expected to be around $135M for FY19.
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BURL | Hot Stocks06:49 EDT Burlington Stores CFO Marc Katz resigns, John Crimmins named interim CFO - Burlington Stores announced that Marc Katz has resigned as the company's CFO/Principal, effective immediately, to pursue other professional opportunities. John Crimmins, Executive Vice President, Finance and Chief Accounting Officer has been appointed interim CFO. Crimmins has been with the company since 2011, most recently serving as Executive Vice President, Finance and Chief Accounting Officer. Before joining Burlington Stores, Crimmins held various roles at The Timberland Company including CFO, and Corporate Controller and Chief Accounting Officer from 2002-2009.
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GLOW | Hot Stocks06:48 EDT Glowpoint, Oblong Industries sign merger agreement - Glowpoint and Oblong Industries announced that they have executed a Definitive Merger Agreement relating to the proposed business combination of Glowpoint and Oblong. At the closing of the Merger, which is expected to occur prior to October 15, and in exchange for all outstanding equity of Oblong, (i) Oblong stockholders will be issued shares of Glowpoint's Series D Convertible Preferred Stock, which will be convertible into approximately 17.4M shares of Glowpoint's common stock at a conversion price of $2.85 per share, and (ii) Glowpoint will assume all outstanding options to purchase shares of Oblong's common stock. Glowpoint's Series D Preferred Stock will automatically convert into shares of Glowpoint's common stock, on a one-for-one basis, upon approval of such conversion by Glowpoint's stockholders at a stockholder meeting expected to be scheduled prior to year-end. Upon the Closing, the stockholders of Glowpoint existing prior to the transaction are expected to own approximately 25% of the combined company, and Oblong stockholders are expected to own approximately 75% of the combined company, in each case before giving effect to the issuance by Glowpoint of the Series E Convertible Preferred Stock discussed below or any shares issued pursuant to a new equity incentive plan of the combined company contemplated by the Merger Agreement. Additionally, entities affiliated with existing Oblong stockholders, including Foundry Group and Greenspring Associates, have agreed to purchase $3.75M of Glowpoint's Series E Convertible Preferred Stock at a price of $2.85 per share, which Preferred Stock will be automatically convertible into Glowpoint common stock on a one-for-one basis upon stockholder approval of such conversion. Of this $3.75M, $2.5M will be funded concurrently with the Closing and the remaining $1.25M may be called by Glowpoint at its discretion.
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GLOW | Hot Stocks06:45 EDT Glowpoint, Oblong Industries sign merger agreement
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MOSC... | Hot Stocks06:40 EDT Vivint Smart Home, Mosaic Acquisition Corp. to merge - Vivint Smart Home and Mosaic Acquisition Corp. announced they have entered into a definitive agreement to merge Vivint with a subsidiary of Mosaic. Following the merger, Mosaic will be renamed "Vivint Smart Home, Inc." With an agreed initial enterprise value of $5.6B, Vivint is anticipated to have revenues of $1.3B for fiscal year 2020E and Adjusted EBITDA of $530M, implying an Adjusted EBITDA multiple of approximately 10.5x. In connection with this transaction: Investment funds affiliated with The Blackstone Group (BX) and other existing investors of Vivint, including management, are retaining their full existing investment. Blackstone has agreed to invest an additional $100M in Vivint through an investment in the common stock of Mosaic immediately prior to the closing of the merger. Affiliates of Fortress Investment Group, a subsidiary of SoftBank Group (SFTBY), have agreed to invest an additional $125M in Vivint through an investment in the common stock of Mosaic immediately prior to the closing of the merger. This investment is in addition to the existing investments in Mosaic held by Fortress affiliates. The remaining outstanding shares of Vivint will be held by the current stockholders of Mosaic and certain other investors who are investing $150M in connection with the merger pursuant to forward purchase commitments obtained in connection with Mosaic's IPO, which includes $25M from Fortress. Additionally, David Maura is committing to purchase $5M under a 10b5-1 trading plan. Pro forma net leverage reduced from 5.5x to 4.3x LTM 6/30/2019 Covenant Adjusted EBITDA, with substantially all net proceeds expected to be used to repay debt. Blackstone and other existing investors of Vivint are expected to own approximately 78% of the outstanding shares of Vivint immediately following the merger. In total, there will be approximately $690M of net cash proceeds at closing, assuming no redemptions by Mosaic's public stockholders, including the $150M of forward purchase commitments obtained in connection with Mosaic's IPO. The net cash proceeds from these transactions, including Mosaic's cash on hand, are expected to be used for working capital and general corporate purposes, including to pay down a portion of existing Vivint debt. The transaction is expected to be completed during the fourth quarter or the first quarter of 2020, subject to approval by Mosaic and Vivint stockholders and other customary closing conditions. The boards of directors of both Vivint and Mosaic have unanimously approved the proposed transaction. Mosaic will apply to list the shares of its common stock being issued in connection with the merger on the New York Stock Exchange.
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DTIL | Hot Stocks06:31 EDT Precision BioSciences announces FDA clearance of IND for PBCAR20A - Precision BioSciences announced the U.S. FDA has accepted its Investigational New Drug application for PBCAR20A, the company's second off-the-shelf chimeric antigen receptor T cell therapy program. Wholly owned by Precision, PBCAR20A is an allogeneic anti-CD20 CAR T therapy candidate in development for the treatment of non-Hodgkin lymphoma, chronic lymphocytic leukemia, and small lymphocytic lymphoma. The company plans to initiate a Phase 1/2a clinical trial in the fourth quarter, with initial data expected in 2020. The study will include patients with NHL, of which a subset will have the diagnosis of mantle cell lymphoma. Precision BioSciences has received Orphan Drug Designation for MCL and plans to pursue this indication.
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SYF | Hot Stocks06:25 EDT Synchrony reports August net charge-offs 3.90% vs. 4.13% last month - Reports August 30-plus day delinquencies 2.58% vs. 2.42% last month.
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ALLT | Hot Stocks06:23 EDT Allot Communications announces 'significant agreement' in EMEA - Allot announced that it has entered into a significant agreement to provide AllotSmart products to an existing customer located in the EMEA region for total consideration of tens of millions of dollars. The sale is being effected through a system integrator. Allot expects to receive a portion of the amount as an advance payment, with the revenues expected to be recognized over several years and are subject to customary delivery and acceptance terms. Margins of the deal are similar to Allot's average margins. Allot management maintains its current 2019 expectations of revenues between $106M-$110M vs. consensus $108.63M.
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BX | Hot Stocks06:11 EDT Blackstone to acquire Dream Global REIT in C$6.2B transaction - Dream Global REIT and Dream Unlimited Corp. announced that Dream Global has entered into a master acquisition agreement with affiliates of real estate funds managed by Blackstone, pursuant to which Blackstone will acquire all of Dream Global's subsidiaries and assets in an all-cash transaction valued at C$6.2B. On closing of the Transaction, Dream Global unitholders (will receive cash consideration of C$16.79 per Dream Global unit. James Seppala, Head of Blackstone Real Estate Europe, added, "We are delighted to be acquiring Dream Global, a high-quality and diversified portfolio of office and logistics assets in Western Europe, which has been created by Dream over the last eight years. This Transaction is an exciting opportunity for Blackstone to expand its existing office and logistics portfolios in some of the largest and most important markets in the region." The consummation of the Transaction will be subject to the approval of at least 66 2/3% of the votes cast by Unitholders at a special meeting of Unitholders and a majority of the votes cast by Unitholders other than DAM and other related parties. The Transaction is subject to other customary conditions, including regulatory approvals, and is expected to close in December 2019. The Transaction is not subject to a financing condition. The Dream Global Board, after receiving the unanimous recommendation of the Special Committee and in consultation with its financial and legal advisors, has determined that the Transaction is in the best interests of Dream Global and fair and is recommending that Unitholders vote in favor of the Transaction.
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JPM | Hot Stocks06:10 EDT JPMorgan reports August net credit losses 2.45% vs. 2.21% last month - Reports August 30-plus day delinquencies 1.14% vs. 1.15% last month.
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CASI | Hot Stocks06:05 EDT Casi Pharmaceuticals announces NMPA acceptance of CNCT19 trial application - Casi Pharmaceuticals announced that the Chinese National Medical Product Administration, or NMPA, has accepted the clinical trial application for CNCT19 for investigation in relapsed B-cell acute lymphoblastic leukemia, or B-ALL, and B-cell non-Hodgkin lymphoma, or B-NHL. CASI owns the exclusive worldwide license and commercial rights to CNCT19.
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COF | Hot Stocks06:05 EDT Capital One reports August net charge-offs 4.18% vs. 4.25% last month - Reports August 30-plus day performing delinquencies vs. 3.50% vs. 3.49% last month.
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FSCT MSFT | Hot Stocks06:02 EDT ForeScout announces expanded integration with Microsoft - Forescout Technologies (FSCT) announced an expanded integration with Microsoft (MSFT) to integrate the Forescout platform with Microsoft Intune, a unified endpoint management solution. Building on previous integrations with Microsoft Azure and System Center Configuration Manager, Forescout is extending its device visibility and control platform to improve security, compliance and control across a diverse landscape of interconnected campus, data center, public cloud and operational networks. Additionally, Forescout has joined the Microsoft Intelligent Security Association, a collaborative initiative to help organizations defend against increasingly sophisticated, fast moving threats worldwide.
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ARAY | Hot Stocks06:00 EDT Accuray: China announces tariff exclusion for medical linear accelerators - Accuray announced that, on September 11, China's Customs Tariff Commission of the State Council issued a tariff exemption for medical linear accelerators. The tariff exemption, which will be effective September 17 and is scheduled to last for one year, applies to the additional tariffs China imposed on U.S. products effective as of August 23, 2018. Accuray expects to benefit from such tariff exemption.
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ACN BAYRY | Hot Stocks05:58 EDT Accenture announces collaboration with Bayer - Accenture (ACN) has announced a collaboration with Bayer (BAYRY) to implement the Accenture INTIENT Clinical platform to help simplify and speed its drug development processes. The platform, which went live at Bayer earlier this year, brings internal and external clinical data together with Oracle cloud-based technologies into a single data management and warehousing platform, creating actionable insights to accelerate drug development and improve patient outcomes.
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SOL | Hot Stocks05:57 EDT ReneSola announces intended $11M investment by Shah Capital - ReneSola announced that its major shareholder, Shah Capital Opportunity Fund, has tentatively agreed to terms for the purchase of newly issued shares. The term sheet contemplates Shah purchasing 100M ordinary shares at a price of 11c per share, for a total consideration of $11M.
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MDT NVO | Hot Stocks05:54 EDT Medtronic, Novo Nordisk enter collaboration - Medtronic (MDT), and Novo Nordisk (NVO) announced a collaboration that will develop solutions to integrate insulin dosing data from future Novo Nordisk smart insulin pens into Continuous Glucose Monitoring, or CGM, devices from Medtronic, such as the Guardian Connect system. "This new, non-exclusive collaboration reflects both companies' commitment to making diabetes management easier by integrating key health technologies."
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ARWR | Hot Stocks05:43 EDT Arrowhead presents initial top-line clinical data for ARO-APOC3 - Arrowhead Pharmaceuticals presented initial top-line clinical data at The Global Summit on Cardiology and Heart Diseases, being held in Dubai, UAE. The data demonstrate that, in two Phase I single-dose clinical studies in healthy volunteers, ARO-APOC3 reduced plasma Apolipoprotein C-III, or apoC-III, and ARO-ANG3 reduced plasma angiopoietin like protein 3, or ANGPTL3, and both candidates reduced triglycerides without drug-related serious or severe adverse events. These initial clinical data also indicate that ARO-APOC3 and ARO-ANG3 administration led to a long duration of effect that potentially enables once every three-month or once every six-month dosing intervals. Bruce Given, M.D., COO and head of R&D at Arrowhead, said: "The results presented today at The Global Summit on Cardiology and Heart Diseases suggest that Arrowhead's RNAi-based cardiometabolic candidates, ARO-APOC3 and ARO-ANG3, hold significant promise for the treatment of patients with hypertriglyceridemia and dyslipidemia. Our clinical and preclinical data clearly show that both ARO-APOC3 and ARO-ANG3 are highly active against their respective targets and lipid parameters. In addition, there is encouraging evidence from genetic studies, preclinical studies, and proof of concept from other drug candidates that inhibiting apoC-III and ANGPTL3 has the potential to help patients with rare diseases, such as familial chylomicronemia syndrome, or FCS, and homozygous familial hypercholesterolemia, or HoFH, as well as individuals with higher prevalence cardiovascular and metabolic diseases. Achieving deep reductions in plasma triglycerides of 66% and 63% after only a single dose of ARO-ANG3 and ARO-APOC3, respectively, exceeded our expectations. These data compare quite favorably with clinical data from other modalities, including antibodies and antisense, which we include as reference in the backup slides of the presentation available on the Events and Presentations page under the Investors tab on our website. We look forward to sharing a fuller dataset, including a broader set of lipid parameters and full time course from the single ascending dose portions of the ARO-APOC3 and ARO-ANG3 Phase 1 studies in healthy volunteers later this year and the multiple ascending dose portions in various patient populations as data mature."
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EGY | Hot Stocks05:40 EDT VAALCO Energy announces intention to list on Main Market of LSE - VAALCO Energy announces its formal intention to seek a Standard Listing on the Main Market of London Stock Exchange, to complement its existing Listing on the New York Stock Exchange.
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ALDR | Hot Stocks05:19 EDT Alder Biopharmaceuticals to be acquired by Lundbeck in deal valued at $1.95B - Lundbeck A/S and Alder BioPharmaceuticals (ALDR) announced a definitive agreement for Lundbeck to acquire Alder. Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Alder, whereby Alder stockholders will be offered an upfront payment for $18.00 per share in cash, along with one non-tradeable Contingent Value Right, or CVR, that entitles them to an additional $2.00 per share upon approval of eptinezumab by the EMA, representing a total potential consideration of $20.00 per share. The transaction is valued at up to $1.95B net of cash, on a fully diluted basis. The upfront cash consideration represents a 79% premium to Alder's shareholders based on the closing price on 13 September 2019 and an approximately 3% discount based on the 52-week high share price. Lundbeck will acquire any shares of Alder not tendered into the tender offer through a merger for the same per share consideration as will be payable in the tender offer. The merger will be effected as soon as practicable after the closing of the tender offer. The board of Alder has unanimously approved the transaction and Alder will file a recommendation to shareholders recommending they tender their shares to Lundbeck. The transaction is expected to close in Q4, subject to customary closing conditions, including the tender of more than 50% of all shares of Alder outstanding at the expiration of the offer and receipt of required regulatory clearances, which includes a Hart-Scott-Rodino review in the U.S. The terms and conditions of the tender offer will be described in the tender offer documents, which will be filed with the SEC.
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SNY ABT | Hot Stocks05:14 EDT Sanofi, Abbott partner to integrate glucose sensing and insulin delivery tech - Sanofi (SNY) and Abbott (ABT) are partnering to integrate glucose sensing and insulin delivery technologies that would help to further simplify how people with diabetes manage their condition. "The two companies will take an innovative approach to connected care by developing tools that combine the revolutionary FreeStyle Libre technology with insulin dosing information for future smart pens, insulin titration apps and cloud software." The non-exclusive collaboration will initially enable data sharing, at the consent of the user, between Abbott's FreeStyle Libre mobile app and cloud software and Sanofi's connected insulin pens, apps and cloud software that are currently in development. This data sharing will enable both people with diabetes and their doctors to make better informed treatment decisions around medication, nutrition and lifestyle. Sanofi is currently working to provide connected pens, apps and cloud software that will be compatible with the FreeStyle Libre system and its compatible digital health tools. The two companies aim to bring this to people with diabetes within the next few years, pending local regulatory approvals.
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JNJ... | Hot Stocks05:12 EDT Purdue Pharma files for bankruptcy as part of $10B opioid settlement - Purdue Pharma last night announced that it has reached an agreement in principle on a framework for settling the U.S. opioid litigation facing the company with 24 state attorneys general, analogous officials from five U.S. territories, the Plaintiffs' Executive Committee in the multidistrict litigation, and co-lead counsel in the multidistrict litigation. The settlement structure is estimated to provide more than $10B of value to address the opioid crisis. To finalize and implement the settlement agreement, Purdue last night also filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. "This court-supervised process is intended to, among other things, facilitate an orderly and equitable resolution of all claims against Purdue, while preserving the value of Purdue's assets for the benefit of those impacted by the opioid crisis," the company said in a statement. Publicly traded companies also facing opioid ligation include Johnson & Johnson (JNJ), Endo International (ENDP), Mallinckrodt (MNK) and Teva Pharmaceutical Industries (TEVA). Reference Link
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NESR | Hot Stocks05:12 EDT National Energy Services maintains full capacity in Saudi Arabia - Sherif Foda, Chairman and CEO of National Energy Services, stated, "As I am currently in the field in Saudi Arabia, I would like to emphasize to all the families of our employees around the world that all of our employees are safe and continue to operate in the different fields as normal. We are in close contact with our customer and the relevant authorities and we follow their professional guidelines as well as have our security and HSE experts on the ground to support the operations. I want to reiterate that the safety of our employees and our operations is our top priority. We are fully supporting all of our Saudi operations and maintain a strong presence and capacity in all our operating units."
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