Stockwinners Market Radar for October 09, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:02 EDT Overstock.com opens campus in Sligo, Ireland - Overstock.com has opened its new European base in the IDA's flagship North West business park in Sligo, and revealed it is on track to make its 100th Irish hire before year end. The company last year announced the creation of 100 new technology jobs including senior roles in areas such as software development and testing, machine learning, and data analytics. It now has more than 80 technologists working in Sligo and is on target to recruit another 20 staff before the end of the year. Overstock has invested EUR1M in making the move to the Westgate tech campus in the IDA's business park in Finisklin, Sligo town.

18:42 EDT Infrastructure and Energy Alternatives says discussing alternative transaction - Infrastructure and Energy Alternatives (IEA) provided an update on the status of the potential preferred stock financing and merger transactions detailed in the previously announced non-binding indicative term sheet. As previously announced on August 14, 2019, the company entered into an Equity Commitment Agreement among the company, funds managed by the Private Equity Group of Ares Management Corporation (ARES), a global alternative asset manager, and funds managed by Oaktree Capital Management, whereby the company agreed to issue and sell 50,000 shares of Series B Preferred Stock and 900,000 warrants to purchase the Company's common stock at an exercise price of $0.0001 to Ares for an aggregate purchase price of $50M. The Tranche One Transaction was completed on August 30, 2019 and the net proceeds from the transaction were used for working capital and to reduce outstanding borrowings under the company's revolving credit facility. In addition, the company also announced that it had entered into the August Term Sheet with Ares that provided for, among other things, the issuance of an additional 110,000 shares of Series B Preferred Stock and a possible merger resulting in the Company going private. The non-binding indicative term sheet called for Ares to provide 60% of the capital for the Tranche Two Transaction and the Merger with the remaining 40% coming from an unidentified third party. The parties are now discussing an alternative transaction to the transactions contemplated in the August Term Sheet that would include an additional investment in IEA preferred stock by Ares, but which does not include the Merger or any other going private transaction. The company will make an announcement when, and if, a final transaction is agreed upon by all parties.

18:33 EDT Avista receives Commission decision in Oregon natural gas rate case - Avista's natural gas rate case has concluded with an order from the Public Utility Commission of Oregon that approves the all-party settlements filed in July and August 2019. New rates will take effect on Jan. 15, 2020. The Commission approved rates designed to increase annual natural gas billed revenues by $3.6M, or 4.2%. The Commission's decision reflects a rate of return (ROR) on rate base of 7.24%, with a common equity ratio of 50% and a 9.4% return on equity, both of which represent a continuation of existing authorized levels. A residential customer using an average of 47 therms per month would see a $2.19 per month increase, or 4.5%, for a revised monthly bill of $51.13. The monthly customer basic charge for all rate schedules will remain at current levels. The actual percentage increase will vary by customer class and will depend on how much energy a customer uses. Avista serves approximately 104,000 customers in Oregon.

17:45 EDT PG&E down 18% after Bloomberg reports judge opens door to rival bankruptcy plan - In after-hours trading, shares are down 18% to $9.01.

17:02 EDT Gardner Denver names Emily Weaver CFO - Gardner Denver (GDI) announced the appointment of Emily A. Weaver as Senior Vice President and Chief Financial Officer effective December 1, 2019. As Senior Vice President and CFO, Weaver will oversee all finance and accounting, including controllership, tax, treasury, planning, and investor relations, as well as information technology, and will report directly to Vicente Reynal, Chief Executive Officer. Weaver joins Gardner Denver from Fortive Corporation (FTV) where she is currently its Chief Accounting Officer. Weaver will succeed Neil Snyder, Gardner Denver's current CFO, who is leaving to pursue other opportunities. Snyder will remain CFO until the transition and will continue in an advisory capacity for a mutually agreed period.

16:46 EDT Northwest Pipe CFO Robin Gantt to retire, Aaron Wilkins to succeed - Northwest Pipe announced that Robin Gantt will retire as Senior Vice President and CFO on March 31, 2020. The Board of Directors appointed Aaron Wilkins to succeed Gantt as CFO on April 1, 2020, in connection with Northwest Pipe's planned succession process. Gantt joined Northwest Pipe in 2010 and has served as CFO since 2011. Wilkins has served as Corporate Controller since joining the company in 2014 and Vice President of Finance since 2016.

16:36 EDT Progenics urges shareholders to reject Velan Capital's strategic plan - Progenics Pharmaceuticals issued the following letter, highlighting its belief in the value that will be created by its recently announced transaction with Lantheus Holdings, and the uncertainty surrounding Velan Capital's promised, but unproven, strategic plan. "In the next few months, you will be asked to vote on two important matters affecting the future of your investment in Progenics: The first relates to whether you want to hand over control of the board of directors and the company to a minority shareholder with no payment of a premium and no proven ability to execute a commercial strategy. As you may be aware, Velan Capital, L.P., an 11.7% shareholder, recently launched a consent solicitation campaign, attempting to gain control of five of the seven seats on your board. Velan is taking this action despite numerous good-faith efforts by your board to reach a reasonable settlement that would have avoided the cost and disruption caused by this campaign. At a later date, you will also be asked to vote on the proposed sale of Progenics to Lantheus, a global leader in the development, manufacture and commercialization of innovative diagnostic imaging agents and products. Your board negotiated this compelling strategic transaction that delivers a premium and a 35% ownership stake in the combined company with strong prospects for improved top line growth, enhanced operational execution and significant synergy opportunities. Additionally, the transaction provides for an industry leading board of directors and a management team with deep experience in the development, manufacturing and commercialization of radiopharmaceuticals, proven in public markets, to lead the combined company. We believe the choice is clear in both of these matters: We urge you to reject Velan's unproven nominees and their uncertain, undisclosed strategic plan. This will ensure that you and your fellow shareholders can make a fully informed decision whether you want the clear and compelling value that will be provided through the transaction with Lantheus."

16:35 EDT FormFactor acquires FRT for EUR19.7M in cash, sees accretion - FormFactor announced the acquisition of FRT, based in Germany. FRT is a metrology suppliers in the semiconductor industry, with revenues at more than 75% compounded annual growth rate since its inception in 2016 to 2018. This acquisition helps FormFactor's test and measurement by expanding its addressable market into 3D surface metrology and extending the optical applications scope of its existing engineering systems business. The acquisition expands FormFactor's addressable market by $150M, accelerates the company's growth in advanced packaging/MEMS applications and complements consumable wafer test probe products. In accordance with the terms of the transaction, FormFactor paid EUR19.7M in cash for the acquisition. Up to EUR10.3M of additional cash consideration may be payable subject to the performance of the acquired business in 2020. This acquisition is expected to be immediately accretive to earnings on a non-GAAP basis.

16:29 EDT Bed Bath & Beyond appoints Mark Tritton CEO - Bed Bath & Beyond (BBBY) announced the appointment of Mark Tritton as president and CEO and as a member of its board, effective November 4. He succeeds interim CEO, Mary Winston. Tritton has over 30 years of experience in the retail industry, including most recently as executive VP and Chief Merchandising Officer at Target Corporation (TGT).

16:23 EDT AllianceBernstein reports preliminary AUM $592B as of September 30 - Compared to $587B at the end of August. The 0.9% increase was due to total firm-wide net inflows, as well as market appreciation. By channel, net inflows in Retail and Institutions exceeded net outflows from Private Wealth.

16:19 EDT Southwestern Energy reports actions to 'further strengthen financial resiliency' - Southwestern Energy Company announced several recent financial developments that "reinforce its resiliency and strategic flexibility in a low commodity price environment". New actions include: Borrowing base unchanged in semi-annual redetermination under the $2 billion credit facility with maturity extended one year to 2024; no borrowings outstanding as of September 30, 2019 Repurchased $50 million of senior notes due 2025 to 2027 during the third quarter at an average 13% discount, funded principally by sales of non-core, non-producing assets Leading 5-year maturity window with no significant maturities until 2025 S&P reaffirmed BB credit rating with a stable outlook Additional hedges added during the third quarter, including 186 Bcf and 99 Bcf of natural gas for 2020 and 2021. "Financial strength is a core priority for Southwestern Energy. The Company is strategically advantaged in this low price environment, given our strong balance sheet, liquidity position and debt maturity profile. The recent actions by our bank group and S&P validate this view. Financial resilience, coupled with a premier asset base, outstanding operational execution and lowered cost structure, sets SWN apart as a leading Appalachia producer," said Bill Way, President and Chief Executive Officer of Southwestern Energy.

16:14 EDT Invesco reports preliminary AUM $1.184T as of September 30 - Invesco reported preliminary month-end assets under management of $1.184T, an increase of 0.8%. The increase was driven by favorable market returns, non-management fee earning AUM inflows, reinvested distributions of $2.2B, and foreign exchange of $0.3B, partially offset by net long-term outflows and lower money market AUM. Preliminary average total AUM for the quarter through September 30 were $1.188T, and preliminary average active AUM for the quarter through September 30 were $915.6B.

16:15 EDT SJW Corp., Connecticut Water announce close of merger - SJW Corp. (SJW) and Connecticut Water (CTWS) announced the close of their merger. The combined company, SJW Group, is the third-largest investor-owned pure play water and wastewater utility based on rate base in the United States, serving nearly 1.5M people across California, Connecticut, Maine and Texas. In connection with the closing of the transaction, Connecticut Water is now a wholly owned subsidiary of SJW Group, and Connecticut Water's common shares have ceased trading on Nasdaq stock exchange. The closing provides a balance sheet that enhances SJW Group's financial flexibility to increase sustained growth in its operating utilities' rate bases, continue investments in all of its water systems and create a stable utility enterprise. The company expects high single-digit percentage EPS accretion in 2021 after a neutral to slightly dilutive EPS impact in 2020. The completion of the transaction follows the satisfaction of all customary closing conditions, including having received approval of the merger by Connecticut Water's shareholders, and regulatory approval by the Connecticut Public Utilities Regulatory Authority and the Maine Public Utilities Commission. SJW Group will maintain its headquarters in San Jose, California, with its New England regional headquarters in Clinton, Connecticut. The parent company of the Connecticut and Maine utility operating subsidiaries will retain the name of Connecticut Water Service.Each of the regional utility operating subsidiaries will continue to serve customers under their existing brand names with their local employee teams at their existing operating centers. Eric Thornburg is chairman, president and CEO of SJW Group and chairman and CEO of San Jose Water Company and SJWTX.

16:12 EDT EXFO Inc. sees 2020 adjusted EBITDA $33M - The positive impact of IFRS 16 on adjusted EBITDA for 2020 is projected to be approximately $4M.

16:07 EDT DryShips shareholders approve merger pact with SPII Holdings - DryShips announced that, at a special meeting held today, its shareholders voted in favor of the proposal to authorize and approve the previously announced Agreement and Plan of Merger, entered into on August 18, by and among the Company, SPII Holdings, a company that may be deemed to be beneficially owned by the Company's Chairman and Chief Executive Officer, Mr. George Economou, and Sileo Acquisitions Inc., a wholly owned subsidiary of SPII, pursuant to which SPII will acquire the outstanding shares of common stock, $0.01 par value, of the Company that it does not already own for $5.25 per share in cash, without interest.

16:01 EDT Aegion subsidiary awarded $6.9M contract - Aegion Corporation announced that its subsidiary, Insituform Technologies, has been awarded a two-year term contract valued at $6.9M from Miami-Dade County in Florida. The contract includes an option for the county to renew for an additional two years on a yearly basis. Insituform will receive several work releases beginning in late 2019 and expects to rehabilitate more than 26 miles of 8- to 36-inch diameter wastewater pipelines using Insituform cured-in-place pipe throughout the county over the two-year period.

14:18 EDT Nissan says found no evidence of 'inappropriate' role by Nada in Ghosn probe - Nissan announced that Hari Nada, senior vice president, has been appointed senior advisor overseeing special projects. He will continue to report to Yasuhiro Yamauchi, representative executive officer, acting president and chief executive officer. Although Nissan has found no evidence of inappropriate involvement by Nada in the internal investigation into executive misconduct led by former Chairman Carlos Ghosn and others, the change is aimed to avoid undue suspicion and to enable him to focus on important tasks for the company, such as forthcoming legal action, the car maker said. Hitoshi Kawaguchi, currently executive officer, executive vice president and Chief Sustainability Officer overseeing Global External and Government Affairs, Global Communications, Corporate Services, Environment/CSR, IP Promotion, and the Corporate Management Office, will also oversee the Corporate Advisory Office, the Legal Department, Intellectual Property and the Chief Security Office. He will continue to report to Yasuhiro Yamauchi, representative executive officer, acting president and chief executive officer.

12:34 EDT Eli Lilly says Verzenio 'significantly extends life for women in MONARCH 2 study - Eli Lilly and Company announced that Verzenio in combination with fulvestrant significantly extended life by a median of 9.4 months in women with hormone receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer previously treated with endocrine therapy. Results from the Phase 3 MONARCH 2 clinical trial, which included both pre/peri- and postmenopausal women, were consistent across subgroups. These results were presented as a late-breaking abstract in the Presidential Symposium, at the European Society for Medical Oncology 2019 Congress in Barcelona, Spain and simultaneously published in JAMA Oncology. "These positive results definitively showed that Verzenio plus fulvestrant reached statistical significance at a pre-planned interim analysis. Lilly will continue to monitor patients enrolled in the trial. Any additional analyses will be considered post-hoc. Lilly plans to submit these overall survival data to global regulatory authorities. Verzenio in combination with fulvestrant is currently approved in more than 50 countries worldwide, including Canada," the company said.

12:00 EDT Gates Industrial falls -7.7% - Gates Industrial is down -7.7%, or -73c to $8.76.

12:00 EDT China Online Education falls -9.4% - China Online Education is down -9.4%, or -69c to $6.67.

12:00 EDT Navios Maritime rises 10.9% - Navios Maritime is up 10.9%, or 50c to $5.07.

11:56 EDT Facebook CEO to testify before House Financial Services Committee on Oct. 23 - Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, announced that Facebook Chairman and CEO Mark Zuckerberg will testify before the Committee at an October 23 hearing. Zuckerberg will be the sole witness at the hearing, which is entitled, "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors." Reference Link

11:43 EDT U.K. proposing to accept buyout of Inmarsat by Connect Bidco - The U.S.'s Secretary of State for Digital, Culture, Media and Sport, Nicky Morgan, announced that she is proposing to accept statutory undertakings set out by the parties involved in the proposed acquisition of Inmarsat by Connect Bidco Limited. Reference Link

11:03 EDT GAP Airports reports September traffic up 9.1% - Grupo Aeroportuario del Pacifico announced preliminary terminal passenger traffic figures for the month of September 2019, compared to traffic figures for September 2018. During September 2019, total terminal passengers increased by 9.1% at the Company's 13 airports, compared to the same period of the previous year. Domestic passenger traffic increased by 8.9%, while international passenger traffic increased by 9.3%.

10:09 EDT SmileDirectClub announces expansion into New Zealand - SmileDirectClub announced earlier its recent expansion into New Zealand. Following the launch of SmileDirectClub in Australia in May 2019, the brand opened its first SmileShops in Auckland and Wellington, New Zealand in September, followed by a new location in Christchurch, with plans to expand its footprint in the country over the coming months. "Building on consumer acceptance of remote clear aligner therapy in the U.S., Canada, U.K. and Australia, we are proud to extend SmileDirectClub's safe, consumer-friendly teledentistry platform to locally licensed dentists and orthodontists in New Zealand. Through our affiliated network of doctors and 100% vertically aligned business model, SmileDirectClub increases access to affordable orthodontic care, already helping more than 700,000 people achieve a confidence-boosting smile," said Kay Oswald, President of International at SmileDirectClub.

10:00 EDT Navios Acquisition rises 7.2% - Navios Acquisition is up 7.2%, or 64c to $9.48.

09:47 EDT Sypris Solutions awarded long-term supply agreement - Sypris Technologies announced that it has entered into a long-term contract to supply certain components for use in a new automotive transmission - an eight-speed, dual-clutch transmission for use in high-performance, transaxle applications. Production will begin in late 2019 for use in one of the most anticipated new sports cars in years. Terms of the contract were not disclosed.

09:47 EDT Scor ADR falls -4.4% - Scor ADR is down -4.4%, or -77c to $16.76.

09:47 EDT Leaf Group rises 4.8% - Leaf Group is up 4.8%, or 15c to $3.25.

09:47 EDT Borr Drilling rises 8.3% - Borr Drilling is up 8.3%, or 39c to $5.09.

09:37 EDT Say Insurance selects Medallia to optimize digital, call center experiences - Medallia announced that Say Insurance has selected Medallia to optimize the experiences they deliver in digital and call center channels. Say Insurance is looking to expand its business and is leveraging Medallia to understand the experience their customers have on the website and with the call center in order to drive improvements that will generate new business and company growth.

09:33 EDT Newmont Goldcorp confirms illegal blockade lifted at Penasquito Mine in Mexico - Newmont Goldcorp confirmed that the illegal blockade of the Penasquito mine in Mexico was lifted yesterday. The company continues to work closely with the federal and state governments toward a sustainable, long-term solution, and lifting of the blockade paves the way for the government-sponsored dialogue to resume. Operations at the mine remain temporarily suspended pending further evaluation of the situation on the ground and assurances that the blockade will not be allowed to resume, Newmont said in a statement. In order to protect people, assets, and the long-term viability of the mine, operations at Penasquito had been safely suspended since the illegal blockade began on September 14. The illegal blockade impacted Penasquito's third quarter production by approximately 11,000 gold ounces, 1.7 million silver ounces, 13.7 million pounds of lead and 22.8 million pounds of zinc, and is expected to impact the company's full-year results for the operation. Through September 30, this represents an approximate production shortfall of 11,000 gold ounces and 51,000 gold equivalent ounces from co-products.

09:13 EDT Griffin announces agreement for acquisition of Orlando, Florida building - Griffin Industrial Realty announced that it recently entered into a purchase and sale agreement for an acquisition of an approximately 100,000 square foot fully leased industrial/warehouse building in Orlando, Florida. This Acquisition would be Griffin's first property in the Orlando area. Griffin intends to finance the purchase of the Orlando Building using its new line of credit for acquisitions and cash on hand. Closing on the purchase of the Orlando Building is subject to the satisfactory completion of due diligence by Griffin. There is no guarantee that this transaction will be completed under its current terms, or at all.

09:08 EDT Churchill Downs completes acquisition of Turfway Park - Churchill Downs announced that, through its wholly-owned subsidiary NKYRG, it has completed its previously announced purchase of all of the outstanding equity of Turfway Park in Florence, Kentucky from Jack Ohio LLC, an affiliate of JACK Entertainment LLC, and Hard Rock International for total consideration of $46M in cash, subject to certain working capital and other purchase price adjustments. The closing follows yesterday's approval of the transaction by the Kentucky Horse Racing Commission. Upon receiving KHRC approval to acquire Turfway Park, CDI withdrew the race dates application related to its previously announced New Latonia Racing & Gaming project in northern Kentucky and will not pursue the New Latonia project.

09:06 EDT Infinity Energy Resources, Haas Petroleum enter into operating agreement - Infinity Energy Resources announced that it has signed an operating agreement which appoints Haas Petroleum as the operator for the Company's planned purchase of existing production and mineral rights to oil & gas properties in Central Kansas that cover over 11,000 contiguous acres/. The Agreement sets forth the terms and conditions under which Haas Petroleum will oversee and direct the day-to-day activities at Infinity's domestic oil and gas leases. Infinity is moving forward with its strategic plan to expand into domestic exploration and development projects, principally the completion of the purchase of existing production and mineral rights to the Properties in Central Kansas. The purchase will include the existing production equipment and access to existing 3-D seismic data on the acreage. Haas will implement the Company's exploration and development plan regarding the Company's planned purchase of existing production and mineral rights to the Properties in Central Kansas. The Properties include one existing horizontal producing well, one horizontal saltwater injection well, one conventional saltwater disposal well, and two conventional, vertical producing wells which produce from the Reagan Sand Zone from an approximate depth of 3,600 feet. The acquisition is expected to close prior to December 31, 2019, subject to the Company obtaining adequate financing. The exploration and development program will include the drilling of at least six conventional production wells following the closing of the acquisition, subject to obtaining sufficient financing.

09:04 EDT UPS to add over 6,000 vehicles to natural gas fleet - UPS announced plans to purchase more than 6,000 natural gas-powered trucks beginning in 2020 and running through 2022. This three-year commitment represents a $450M investment in expanding the company's alternative fuel and advanced technology vehicle fleet as well as supporting infrastructure. The new vehicles will be equipped with compressed natural gas fuel systems provided under an exclusive agreement with Agility Fuel Solutions, a business of Hexagon Composites. The investment in CNG fuel systems expands UPS's relationship with Agility Fuel Solutions and supports UPS's fleet sustainability efforts. It will help reduce UPS's carbon footprint and is expected to have a positive influence on national CNG market growth. The CNG fleet expansion also provides additional capacity for expanding the use of renewable natural gas. Since 2016, Agility Fuel Solutions has provided natural gas fuel storage and delivery systems to more than 1,700 UPS trucks. As part of the new agreement, Agility will provide complete end-to-end natural gas systems for heavy-duty gas trucks, terminal tractors and medium-duty walk-in vans, which are UPS's familiar brown delivery trucks. These will include on-board CNG fuel storage and management and Agility's certified natural gas engine fuel systems.

09:03 EDT Tetra Tech wins $500M USAID contract - Tetra Tech announced that the U.S. Agency for International Development, or USAID, has awarded the company a $500M, five-year, multiple-award contract to provide technical assistance for the Energy II program. Almost two-thirds of the developing world's population lacks access to electricity. Under this contract, Tetra Tech will support USAID to address the growing demand for and use of modern energy services by promoting sustainable, renewable energy technologies; increasing energy security; and strengthening energy sector reforms.

09:01 EDT Cryoport authorizes share repurchase program of up to $15M - Cryoport has authorized a share repurchase program under which Cryoport may repurchase up to $15M of its outstanding common stock. The repurchase program will expire on December 31, 2020 and may be extended, suspended, modified or discontinued at any time. The company does not expect to incur debt to fund the share repurchase program.

08:59 EDT AT&T to sell Puerto Rico, U.S. Virgin Islands units to Liberty Latin America - AT&T announced that it plans to sell its wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands to Liberty Latin America. The transaction includes network assets, including spectrum; real estate and leases; customers, including 1.1M wireless subscribers; and contracts. At close, approximately 1,300 current AT&T employees will move to Liberty Latin America. To ensure a smooth transition for its customers, AT&T will provide certain transition support functions to Liberty Latin America following close of the transaction. Under terms of the agreement, AT&T will retain FirstNet responsibilities and relationships as well as DIRECTV and certain global business customer relationships. The sale does not affect AT&T's FirstNet commitment. AT&T retains its dedicated FirstNet network core and service capabilities. Among other services, post-close Liberty Latin America will support AT&T's FirstNet build in Puerto Rico and the U.S. Virgin Islands, expanding LTE coverage and capacity to best meet the needs of first responders in the region. Eligible first responders subscribing to AT&T's FirstNet services in Puerto Rico and the U.S. Virgin Islands will still have access to the benefits and capabilities of the FirstNet network platform, including priority and preemption. Under the terms of the agreement, AT&T will receive $1.95B in cash at close, subject to customary closing adjustments. The transaction is subject to review by the FCC and the Department of Justice. The two companies expect the deal to close within 6 to 9 months. To reach its de-leveraging goal, AT&T plans to use free cash flow after dividends and to continue monetization initiatives. AT&T has already surpassed its monetization goal of a net $6B-8B in 2019, with a cumulative total of $10B raised year to date - from both asset monetizations and working capital initiatives. With this deal, the total of completed or announced monetization efforts this year is more than $11B. Given the company's confidence in reaching a net debt-to-adjusted EBITDA ratio in the 2.5x range this year, shareholders should expect that share buybacks will be in the mix in the fourth quarter, along with continued de-levering.

08:40 EDT American Airlines narrows Q3 pre-tax margin view to 6.5%-7.5% from 5.5%-7.5%

08:40 EDT American Airlines sees Q3 TRASM up approximately 1.5%-2.5% y/y - Despite the negative impact to revenue of Hurricane Dorian, the company expects its third quarter total revenue per available seat mile to be up approximately 1.5 to 2.5 percent year-over-year. The midpoint of this guidance is unchanged from the company's previous guidance of up approximately 1.0 to 3.0 percent. The company expects its total pre-tax net special items in the third quarter will be approximately $280 million, of which approximately $230 million is non-cash. Special items primarily consist of a $200 million non-cash impairment charge related to the retirement of the company's E190 fleet, as well as fleet restructuring costs, merger integration expenses and mark-to-market adjustments on equity investments, offset in part by the reduction of certain litigation reserves. The company continues to expect its third quarter total cost per available seat mile excluding fuel and special items to be up approximately 4.0 to 6.0 percent1 year-over-year.

08:39 EDT American Airlines says canceled 9,475 flights in Q3 due to MAX grounding - In a regulatory filing, American Airlines (AAL) provided an update for investors presenting information relating to its financial and operational outlook for the third quarter of 2019 and an update regarding the grounding of its 737 MAX (BA) fleet. On March 13, 2019, a directive from the Federal Aviation Administration grounded all U.S.-registered Boeing 737 MAX aircraft. The American Airlines fleet currently includes 24 Boeing 737 MAX 8 aircraft with an additional 76 aircraft on order. As a result of this directive, the company cancelled 9,475 flights in the third quarter. The company estimates that the cancellations in the third quarter negatively impacted pre-tax income by approximately $140 million. As reported this morning, the company has now cancelled all 737 MAX flying through January 15, 2020. As a result of the extension of the grounding, the company now expects to fly approximately 70.1 billion available seat miles in the fourth quarter. The company will provide an update to the full year impact of the grounding on the third quarter earnings call.

08:35 EDT One Stop Systems receives $1.1M order for satellite signal regeneration system - One Stop Systems has received a $1.1M follow-on order from a global satellite company for OSS-Volta16 AI on the Fly GPU accelerated computing systems. These additional systems will be deployed within satellite ground stations located in the U.S., Europe and Asia Pacific. The systems support the regeneration and processing of satellite signals using AI deep learning models. OSS plans to ship these systems in the fourth quarter of 2019.

08:13 EDT Agraflora Organics enters into hemp-derived CPG distribution agreement - AgraFlora Organics International announced that the Company has entered into a hemp-derived consumer packaged goods distribution agreement with Gateway Newstands. Gateway has awarded AgraFlora approved supplier status. Gateway boasts over 200 Canadian brick and mortar locations. On September 26th, 2019 Gateway issued AgraFlora an initial purchase order to supply a suite of hemp-derived CPGs. This initial purchase order will secure high visibility Canadian shelf space for AgraFlora's CPG product offering across Gateway locations. AgraFlora and Gateway will also deploy best commercial efforts to pursue conversations relating to a CBD Supply and Consulting Agreement, whereby AgraFlora and Gateway may collaborate to produce a portfolio of CBD-infused CPGs, within eligible jurisdictions.

08:10 EDT Bluebird Bio, Novo Nordisk enter genome editing research collaboration - Bluebird Bio (BLUE) and Novo Nordisk (NVO) announced that they have entered into a research collaboration to jointly develop next-generation in vivo genome editing treatments for genetic diseases, including haemophilia. During the three-year research collaboration, bluebird and Novo Nordisk will focus on identifying a development gene therapy candidate with the ambition of offering people with haemophilia A a lifetime free of factor replacement therapy. The research collaboration will utilise bluebird bio's proprietary mRNA-based megaTAL technology that has the potential to provide a highly specific and efficient way to silence, edit or insert genetic components. Aligned with Novo Nordisk's haemophilia portfolio, the research collaboration will initially focus on correcting FVIII-clotting factor deficiency, with the potential to explore additional therapeutic targets.

08:08 EDT Blue Apron enters partnership with chef Christian Petroni - Blue Apron announced the following partnership: "Award-winning chef and television personality Christian Petroni has created a new line of bold, simple, and indulgent recipes exclusively for Blue Apron, bringing classic Italian-American comfort food to home cooks across the country. Petroni created the new recipes, that each bring a unique, flavor-packed twist to a classic Italian-American meal, in collaboration with the Blue Apron culinary team. The new recipes will be available on Blue Apron's Two-Serving and Four-Serving menus beginning October 28 and continue for four consecutive weeks."

08:05 EDT Middlefield Banc announces two-for-one stock split - The board of Middlefield Banc has authorized a two-for-one stock split. Each shareholder of record at the close of business on October 25, will receive one additional share for every outstanding share held on the record date. The additional shares are payable on November 8. As a result, the number of outstanding shares will increase to approximately 6.4M shares.

08:03 EDT Avinger says expands U.S. reach with seven new accounts in Q3 - Avinger announced the launch of seven new Lumivascular centers during the third quarter, including sites in the high-volume PAD markets of Florida, Georgia and Arizona. "We are excited to report the launch of seven new clinical centers using Avinger's best-in-class Lumivascular platform during the third quarter, as we continue to expand our geographic reach in the U.S. and bring highly differentiated new products to market," said Jeff Soinski, Avinger's President and CEO. "Clinical outcomes consistently show that our unique combination of real-time intravascular imaging with directional atherectomy allows physicians to provide precise and highly effective therapy for their patients with PAD. These outcomes are driving market excitement across our entire product platform, including our new Pantheris SV device."

07:40 EDT NanoViricides initiates bio-analytical studies in NV-HHV-101 - NanoViricides (NNVC) announced that it has initiated bio-analytical studies as part of the required IND-enabling preclinical safety and toxicology studies of NV-HHV-101, moving towards human clinical trials. The company has contracted NorthEast BioLab, Hamden CT, to conduct the bio-analytical studies and facilitate the toxicokinetic analyses. These studies and analyses are part of the required general safety and toxicology studies that will go into an Investigational New Drug Application to the US FDA. NorthEast BioLab has already performed the bio-analytical assay development and validation and is in the process of determining the concentrations of NV-HHV-101 in blood samples from the general safety and toxicology studies that are required for IND. The company has previously reported on the early results from the GLP safety and toxicology studies that were performed by BioAnalytical Systems, Inc., Evansville, IN (BASI). The first of these studies, a GLP safety and tolerability study following dermal treatment, was conducted using miniature pigs, called minipigs, that received twice daily skin treatment of NV-HHV-101 for 28 days. A second GLP study was conducted in rats treated with NV-HHV-101 for 28 days by subcutaneous administration to ensure systemic exposure and to determine effects of such systemic exposure. NV-HHV-101 is designed for administration as a dermal topical cream. The company also continues to evaluate this broad-spectrum drug candidate as well as certain variations based on the same candidate, for the treatment of other herpesviruses, namely HSV-1 cold sores and HSV-2 genital herpes.

07:34 EDT Acreage Holdings CEO executes open market stock purchase for 100,000 shares - Acreage Holdings announced Kevin Murphy, chairman and CEO of Acreage, executed an open market stock purchase for 100,000 shares through the OTCQX on October 8th. The transaction, valued at approximately $685,000, was executed on the OTCQX open market on Tuesday, October 8th, 2019. Combined with his open market stock purchase in July, the number of shares purchased on the open market by Mr. Murphy total 254,000.

07:31 EDT Ocugen board of directors approves $2M share repurchase program - Ocugen announced that its Board of Directors unanimously approved a share repurchase program authorizing the repurchase of up to $2M in value of its outstanding common stock. The company said, "Ocugen believes its shares are significantly undervalued and this decision reflects Ocugen's continued confidence in achieving its corporate goals and commitment to increasing value for its stockholders." Pursuant to this repurchase program, Ocugen plans to repurchase stock through a broker in the open market, provided that the timing, actual number and price per share of the common stock to be purchased will be subject to management discretion and board guidance, market conditions, applicable legal requirements, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and various other factors. As of October 9, 2019, Ocugen had 12.2M shares of common stock outstanding.

07:27 EDT Frontline announces completion of equity distribution agreement - Frontline has issued 4,278,289 ordinary shares pursuant to the Equity Distribution Agreement during the month of October 2019. Following such issuance, Frontline has an issued share capital of 196,894,321 divided into 196,894,321 ordinary shares. The Equity Distribution Agreement is now completed and the Company has issued in total 11,049,141 ordinary shares and raised total proceeds of $100M under the Equity Distribution Agreement.

07:07 EDT Levine Leichtman Capital sells Nobles Worldwide to Ducommun affiliate - Levine Leichtman Capital Partners announced that it has sold Nobles Worldwide to an affiliate of Ducommun. Nobles, based in St. Croix Falls, WI, is the global market leader in the design and manufacturing of ammunition handling systems for the U.S. Armed Forces and its allies. The company supplies key aircraft, naval ship and ground vehicle platforms.

07:05 EDT KVH Industries announces KVH Elite VSAT streaming service - KVH Industries announced that it is introducing KVH Elite, am unlimited VSAT streaming service delivering HD-quality, dedicated bandwidth to yachts in selected geographic regions. The new KVH Elite streaming service is launching in November 2019 from Florida through the Caribbean, including the islands of the eastern Caribbean, with the Mediterranean expected to follow in 2020. This service, which is part of KVH's fully global mini-VSAT Broadband HTS network, is designed for maximum coverage, maximum data speeds, and a premier user experience for simultaneous streaming.

07:02 EDT Auryn Resources commences work on Curibaya in Southern Peru - Auryn Resources announced that it has commenced work on its 100% owned Curibaya project located in the Tacna province in Southern Peru. The company is currently upgrading existing road access into the project and plans to conduct geological and alteration mapping as well as a rock sampling program in order to define the epithermal and porphyry styles of mineralization that have been outlined by historical work. This program will concentrate on the newly acquired Sambalay and Salvador concessions, where historical sampling included up to 13.5% copper, 23.6 g/t gold and 14,180 g/t silver in a 2-kilometer by 3.3-kilometer quartz-sericite-pyrite alteration system. Upon completion of this first phase of exploration, Auryn will initiate a second phase, consisting of ground-based magnetics and induced polarization geophysical surveys, across the main alteration zone. Auryn expects to apply for a drill permit for Curibaya in Q1 of 2020, with the aim of carrying out the first ever drill program on the property in Q4 of 2020. Ivan Bebek, Executive Chairman & Director said: "We are very excited to begin advancing the Curibaya project as it represents another exceptional exploration opportunity for both precious and base metals. The project is situated within a belt that hosts world-class mines, and the historical sampling at Curibaya demonstrates that it has considerable high-grade silver, gold and copper on surface."

07:00 EDT EyeGate enrolls first patient in follow-on PE pilot study - EyeGate Pharmaceuticals announced that it has enrolled the first patient in its follow-on pilot study for punctate epitheliopathies. The study will use the Ocular Bandage Gel eye drop to treat patients with PE to evaluate several different exploratory performance endpoints. "We are pleased to be underway with this clinical study, as we believe our unique OBG product will be the first approved eye drop in the U.S. for the treatment of PE," said Stephen From, CEO of EyeGate. He continued, "We plan to meet with the U.S. Food and Drug Administration following the data readout to determine the most suitable endpoint to move forward into the pivotal study."

06:56 EDT Endeavour Silver reports Q3 production of 1.7M silver equivalents oz. - Endeavour Silver reported Q3 production results from the company's four silver-gold mines in Mexico: the Guanacevi mine in Durango state, the Bolanitos and El Cubo mines in Guanajuato state and the El Compas mine in Zacatecas state. Q3 silver production decreased 34% to 948,547 ounces and gold production decreased 25% to 9,716 oz, resulting in silver equivalent production of 1.7M oz at an 80:1 silver-gold ratio. The lower silver and gold production in Q3, 2019 compared to Q3, 2018 were due to the planned reduction of mine output at El Cubo and lower throughput and grades at Bolanitos, partly offset by higher production at Guanacevi and new production at El Compas. Endeavour CEO Bradford Cooke commented, "Our production in Q3 was down year-on-year but we are seeing positive traction from all the operational changes made in the past two quarters. We expect lower operating costs in Q3 and further improvements of Guanacevi and Bolanitos tonnes and grades in Q4, which should have a positive impact on costs and production (...) Our exploration programs continue to generate positive brownfields results and we plan to drill two greenfields projects in Chile in Q4, 2019." Silver oz sold decreased 45% to 835,045 oz and gold oz sold decreased 28% to 9,373 oz. A company-wide review of the four mines at the end of Q1 identified several deficiencies in the operating performance at each mine-site. As a result, management initiated multiple measures in Q2 and Q3 including changes of mine-site management and contractors, changes to shift and contractor supervision, renting used mining equipment and leasing new mining equipment, revising the 2019 mine plans for all four mines, particularly Guanacevi, and reducing the work force. Q3 production was slightly lower than Q2 production because the many operational changes took longer to implement than planned, dilution remains high due to narrower than planned veins and a heavy rain season negatively impacted ore tonnes processed by the plants. However, management expects Q3 operating costs should be lower than Q2, due to the cost reductions, and Bolanitos and Guanacevi Q4 silver equivalent production, tonnes and grades should increase towards plan due to the operational changes.

06:34 EDT TCR2 Therapeutics appoints Angela Justice as Chief People Officer - TCR2 Therapeutics appointed Angela Justice as its first Chief People Officer. In her new role, Justice will be responsible for leading all aspects of TCR2's human resources function including the development and execution of Human Capital strategy. Prior to joining the company, Justice was Executive Vice President and Chief Human Resources Officer at Surgery Partners. Before that, Justice worked at Biogen as the Chief Learning Officer.

06:05 EDT Piedmont Lithium accelerates lithium hydroxide strategy due to demand - Piedmont Lithium is accelerating development of its lithium chemical plant and is compressing its Project timeline into a single-stage targeting lithium chemical production in late-2022, in response to strong interest from prospective lithium hydroxide customers. This new timeline will effectively accelerate chemical plant development by one year while deferring the mine/concentrator construction start date by one year, resulting in integrated operations from day one. The company is focused on near-term milestones including: key federal permit for the mine and concentrator expected Q4; lithium hydroxide testwork commencing in Q4 with chemical plant pre-feasibility study anticipated in 2Q20; integrated definitive feasibility study and chemical plant permitting targeted for 4Q20; offtake discussions advancing with numerous participants in the global battery supply chain; strategic partnering options being continually evaluated. The company has a cash balance of ~$14M and aims to commence construction of the integrated lithium hydroxide project to leverage anticipated shortfalls in lithium hydroxide supply beginning in 2023.

06:03 EDT ReneSola enters agreement to sell 22.3MW of DG projects in China - ReneSola announced that it entered into an agreement to sell 11 rooftop DG projects located in Zhejiang Province to a China state-owned enterprise specializing in the solar energy industry. Separately, ReneSola announced that it agreed to sell three small-scale DG projects located in Shanghai to a different undisclosed third party. The eleven rooftop DG projects located in Zhejiang Province have an aggregate installed capacity of 20.6MW and the three small-scale DG projects located in Shanghai have a combined capacity of 1.7MW.

05:56 EDT TSMC reports September revenue NT$102.17B, up 7.6% y/y - TSMC announced its net revenues for September 2019: On a consolidated basis, revenues for September 2019 were approximately NT$102.17B, a decrease of 3.7% from August 2019 and an increase of 7.6% from September 2018. Revenues for January through September 2019 totaled NT$752.75B, an increase of 1.5% compared to the same period in 2018.

05:19 EDT TechnipFMC, JGC, Fluor consortium awarded LNG project contract in Mozambique - TechnipFMC (FTI) announces that JFT - a consortium between JGC Corporation, Fluor (FLR) and TechnipFMC has been awarded an Engineering, Procurement and Construction contract by Mozambique Rovuma Venture S.p.A., or MRV, for the Rovuma LNG onshore liquefied natural gas (LNG) production complex project located in Cabo Delgado, Mozambique. MRV, a joint-venture composed of Eni, ExxonMobil (XOM) and CNPC, holds a 70% interest in the exploration and production concession of Area 4, with Galp, Kogas and Empresa Nacional de Hidrocarbonetos each holding a 10% interest. The Rovuma LNG Project will produce, liquefy and market natural gas from three reservoirs of the Mamba complex located in the Area 4 block in the Offshore Rovuma Basin. It includes the construction of two natural gas liquefaction trains, with a total LNG nameplate capacity of 15.2 Mtpa, as well as associated onshore facilities.