Stockwinners Market Radar for December 27, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:27 EST Raytheon awarded $768.28M Air Force contract for AMRAAM - Raytheon has been awarded a $768.28M non-competitive fixed-price incentive contract for advanced medium range air-to-air missile, or AMRAAM, Production Lot 33. This contract provides for the production of the AMRAAM missiles, captive air training missiles, guidance sections, AMRAAM telemetry system, spares and other production engineering support hardware. Work will be performed in Tucson, Arizona, with an expected completion date of February 28, 2023. This contract involves unclassified foreign military sales to Australia, Belgium, Canada, Denmark, Indonesia, Japan, Kuwait, Morocco, Netherlands, Norway, Oman, Poland, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, South Korea, Spain, Thailand, Turkey and United Kingdom, which accounts for 47% of the contract value. FY18 Air Force and Navy procurement funds in the amount of $21.61M; FY19 Air Force and Navy procurement funds in the amount of $356.75M; FY20 Navy procurement funds in the amount of $4.21M; FY19 Air Force research and development funds in the amount of $7.34M; FY20 Air Force and Navy research and development funds in the amount of $10.3M; FY20 Air Force operation and maintenance funds in the amount of $1.4M and foreign military sales funds in the amount of $366.67M are being obligated at the time of award. The Air Force Life Cycle Management Center is the contracting activity.

16:51 EST Point72 reports 5.0% passive stake in Cytokinetics - Point72 Asset Management disclosed a 5.0% stake in Cytokinetics, which represents over 2.98M shares. The filing does not allow for activism.

16:29 EST MorphoSys announces dosing of first patient in phase 1 Tafasitamab study - MorphoSys announced that the first patient has been dosed in a phase 1b clinical study of MorphoSys' proprietary human anti-CD19 antibody tafasitamab in newly diagnosed diffuse large B cell lymphoma. The phase 1b study is an open-label, randomized, multicenter study to evaluate safety and preliminary efficacy of tafasitamab in addition to R-CHOP as well as tafasitamab and lenalidomide in addition to R-CHOP in adult patients with newly diagnosed, previously untreated DLBCL. Patients enrolled in each arm will receive six cycles of treatment.

16:18 EST LSC Communications trading suspended, NYSE to commence delisting - The NYSE announced that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of LSC Communications (LKSD) from the exchange. Trading in the company's common stock was suspended after the market close on the NYSE on December 27. NYSE Regulation reached its decision to delist the common stock pursuant to Section 802.01B of the NYSE's Listed Company Manual because the company had fallen below the NYSE's continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15M. The company has a right to a review of this determination by a committee of the board of of the exchange. The NYSE will apply to the SEC to delist the common stock upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff's decision. Reference Link

16:11 EST TOP Ships discloses Nasdaq listing compliance notice - TOP Ships announced that it has received written notification from The Nasdaq Stock Market dated December 26, 2019, indicating that because the closing bid price of the company's common stock for the last 30 consecutive business days was below $1.00 per share, the company no longer meets the minimum bid price requirement for the Nasdaq Capital Market, set forth in Nasdaq Listing Rule 5450(a)(1). Pursuant to the Nasdaq Listing Rules, the applicable grace period to regain compliance is 180 days, or until June 23, 2020. The company intends to monitor the closing bid price of its common stock between now and June 23, 2020 and is considering its options, including a reverse stock split, in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. The company intends to cure the deficiency within the prescribed grace period. During this time, the company's common stock will continue to be listed and trade on the Nasdaq Capital Market.

16:04 EST LSC Communications trading halted, news pending

14:49 EST Four Corners Property Trust acquires seven Chili's restaurant properties - Four Corners Property Trust (FCPT) announced the acquisition of seven corporate-operated Chili's restaurant properties for $28.7M. The properties are located in Colorado, Louisiana, Mississippi, Oklahoma, and Texas, and are occupied under triple-net leases with approximately 14 years of term remaining and annual rent increases of 1.5%. The leases are guaranteed by Brinker International (EAT). The transaction was priced at a 6.3% going-in cash capitalization rate.

13:02 EST Baker Hughes reports U.S. rig count down 8 to 805 rigs - Baker Hughes reports the U.S. rig count is down 8 rigs from last week to 805, with oil rigs down 8 to 677, gas rigs unchanged at 125, and miscellaneous rigs unchanged at 3.

12:00 EST Foundation Building Materials rises 8.8% - Foundation Building Materials is up 8.8%, or $1.66 to $20.57.

12:00 EST Pyxus rises 17.4% - Pyxus is up 17.4%, or $1.17 to $7.88.

10:10 EST electroCore announces resignation of board chairman Carrie Cox - electroCore announced that the company's current Chairman of the Board, Carrie Cox, will resign from the board effective March 31, 2020. Cox also served on electroCore's Audit and Nominating and Governance Committees. Michael Atieh, who joined the company's board in June 2018, will assume the role of Chairman. "I joined the electroCore Board because I firmly believe in the promise of the company's vagus nerve stimulation technology to treat a broad range of medical indications non-invasively, and improve the lives of countless numbers of patients," said Cox. "I am proud of the progress that we have made thus far, and I leave the Board believing that we have assembled the team capable of maximizing the potential of this novel technology. I look forward to following the company's continued progress at both expanding the commercial availability of gammaCore in its approved headache indications while in parallel exploring its potential utility in additional large-market disorders where the vagus nerve's signaling activity is implicated."

10:00 EST Flex LNG falls -5.6% - Flex LNG is down -5.6%, or -64c to $10.75.

10:00 EST Foundation Building Materials rises 11.6% - Foundation Building Materials is up 11.6%, or $2.19 to $21.10.

10:00 EST Rite Aid rises 17.6% - Rite Aid is up 17.6%, or $3.37 to $22.56.

09:50 EST Melinta Therapeutics trading resumes

09:47 EST VelocityShares 3x Long Natural Gas ETN falls -8.0% - VelocityShares 3x Long Natural Gas ETN is down -8.0%, or -$6.56 to $75.50.

09:47 EST VelocityShares 3x Inv Natural Gas ETN rises 8.0% - VelocityShares 3x Inv Natural Gas ETN is up 8.0%, or $13.01 to $176.61.

09:47 EST Rite Aid rises 20.3% - Rite Aid is up 20.3%, or $3.89 to $23.08.

09:32 EST Nevada reports November statewide gaming win down 3.07% to $937.47M - Nevada reports November Las Vegas Strip gaming win down 3.09% to $517.94M. Publicly traded companies in the casino space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

09:26 EST Michaels jumps 8% after selecting former Walmart executive to replace CEO - In pre-market trading following the announcement of executive changes, Michaels Companies shares are up 48c, or 8%, to $6.50.

09:23 EST Michaels appoints Ashley Buchanan as New CEO

09:20 EST Anixter to consider revised Wesco proposal

09:12 EST Diana Shipping announces sale of Panamax dry bulk vessel m/v Calipso - Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2005-built vessel "Calipso", with delivery to the buyer latest by January 30, 2020, for a sale price of $7.275M before commissions.

09:08 EST Stryker launches voluntary field action on LIFEPAK 15 units - Stryker announced that the company is launching a voluntary field action on specific units of the LIFEPAK 15 monitor/defibrillators. The company is notifying a population of LIFEPAK 15 customers of an issue that may cause their devices to fail to deliver a defibrillation shock after the "Shock" button on the keypad is pressed. This is a result of oxidation that may have formed over time within the "Shock" button. The company is contacting customers with impacted devices to schedule the correction of their device, which will include replacement of the affected keypad. Most complaints associated with this issue were detected prior to patient use. Routine testing of the device can detect this fault condition. The company is instructing customers to continue to use their LIFEPAK 15 monitor/defibrillator according to the operating instructions until the correction can be completed.

09:04 EST Melinta announces restructuring support agreement with secured lenders - Melinta Therapeutics announced that it has entered into a Restructuring Support Agreement with the lenders under its senior credit facility, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV. Under the Agreement, the Supporting Lenders would acquire the Company as a going concern by exchanging $140M of secured claims arising under its senior credit facility for 100 percent of the equity to be issued by the reorganized Company pursuant to a pre-negotiated chapter 11 plan of reorganization. The Agreement will be filed with the Securities and Exchange Commission in a current report on Form 8-K. To facilitate the Agreement and address its debt and other obligations, Melinta initiated voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The Company intends to operate its business in the normal course while it works to complete the transaction through the Chapter 11 process. In accordance with the Agreement, the Supporting Lenders will consent to the Company's continued use of its existing cash and cash equivalents, which will provide the Company the liquidity necessary to operate its business in the normal course throughout this process. The Company also has filed customary motions with the Court seeking authorization to continue operating without interruption, including authorization to continue employee wages and benefit programs and pay the prepetition claims of certain critical vendors and honor customer programs in the normal course. The Company's Agreement with the Supporting Lenders positions the Company to emerge from Chapter 11 on an expedited basis under new ownership and continue operating as a going concern on sound financial footing. At the same time, the Supporting Lenders' proposal to acquire the Company remains subject to a Court-supervised competitive process, which could result in higher and better offers. Melinta and its advisors will evaluate competing bids that may be submitted in accordance with court-approved procedures to ensure the Company receives the highest and best offer for its business in connection with the Chapter 11 process. The closing of any transaction will be subject to Bankruptcy Court approval. The Company aims to complete this process by the end of the first quarter of 2020.

09:01 EST Shineco receives extension of compliance period from Nasdaq - Shineco announced that the Company received a letter from Nasdaq Listing Qualifications Staff that the Company has been granted an additional 180-day grace period or until June 20, 2020 to regain compliance with the minimum $1.00 bid price per share Listing Rule. On June 26, 2019, the Company received a written notification from the Nasdaq indicating that the Company did not comply with the minimum $1.00 bid price per share requirement for continued listing on The Nasdaq Capital Market set forth in Listing Rule 5810.

08:46 EST Elon Musk says Tesla will add Disney+ to vehicles 'soon' - On Thursday, Twitter account TeslaOwnersofMA tweeted, "@elonmusk can @tesla add @disneyplus to the Tesla theatre in a future update? A lot of users would love to have this feature." The CEO replied to the tweet, saying, "Coming soon". Reference Link

08:43 EST Melinta Therapeutics trading halted, news pending

08:36 EST Amyris announces cannabinoid shipment, update on Asian partnerships - Amyris reported that it has shipped the first cannabinoid to its partner, Lavvan. Amyris is on its way to the shipment of a second cannabinoid in the first half of 2020. The company's technology allows Amyris to scale ingredients that are rarer within the cannabis plant and difficult to extract in quantity. This is the tenth unique fermentation molecule Amyris has currently in production. Amyris currently has 22 additional molecules in development. The company also announced that it has agreed on business terms for a partnership with a Asian pharmaceutical company to develop and scale a breakthrough target for a rare oncology treatment. In addition, the company has also agreed to significantly expand its current collaboration with its Chinese partner for vitamins. Amyris plans to provide further details on these agreements at an investor update meeting to be scheduled in February. These new agreements represent several millions of dollars in collaboration payments annually for the next several years.

08:34 EST Mateon announces publication of study results of Combretastatin A1 w/ Cytarabine - Mateon Therapeutics announced the publication of a peer-reviewed research article co-authored by Fatih Uckun MD. PhD, the CMO for Mateon, Vuong Trieu, PhD, the CEO and President for Mateon and four hematology/oncology professors from academic US institutions in the prestigious oncology journal Cancers. The article describes in detail the data obtained in the recently completed multi-institutional OXI1222 study that was aimed to evaluate the clinical potential of Mateon's lead anti-leukemia drug Combretastatin A1 in adult patients with previously treated relapsed acute myeloid leukemia. This clinical study was registered at www.clinicaltrials.gov as NCT02576301. Patients were treated by participating leukemia experts affiliated with the University of Florida, University of Kansas Cancer Center, David Geffen School of Medicine at UCLA, and University of Miami Sylvester Comprehensive Cancer Center, Miami who co-authored the published article. The primary purpose of this Phase 1B study was to define the maximum tolerated dose and safety profile of OXi4503 and cytarabine administered in combination in patients with relapsed/refractory AML. The study was completed in August 2019 and met its primary endpoint. The study showed that adding OXi4503 to the standard chemotherapy drug cytarabine was generally well tolerated by AML patients and a maximum tolerated dose level of OXi4503 was identified as the recommended dose for further clinical development of this novel two-drug combination. In 26 evaluable AML patients, there were 4 complete remissions and one partial remission.The CR responses were associated with greater than1-year overall survival times. The combination therapy exhibited a manageable toxicity and a promising benefit to risk profile in older adults with relapsed AML who are in urgent need for effective new therapies. The safety, feasibility, and early clinical activity of this new treatment in relapsed/refractory AML deserves further clinical validation in a randomized registration study. OXi4503 has received orphan drug designation for AML in both the US and the European Union. Further, the US FDA has granted fast-track designation to OXi4503 for the treatment of relapsed/refractory AML. The research article "A Phase 1B Clinical Study of Combretastatin A1 Diphosphate and Cytarabine in Combination for Patients with Relapsed or Refractory Acute Myeloid Leukemia" has been published in Cancers as part of the Special Issue Personalized Medicine: Recent Progress in Cancer Therapy.

08:26 EST China Rapid Finance announces $8M investment from True North Financial - On December 24, China Rapid Finance announced that True North Financial, or TNF, will invest $8M in a private transaction for unregistered shares of the company's stock. TNF purchased 37,985,203 Class A unregistered ordinary shares, and 3,465,574 Class B unregistered ordinary shares, based on the closing price on December 23, which was $1.93 per American depository share, or ADS. The Class B ordinary shares are entitled to 10 votes per share. As a result of this transaction, TNF owns 36.63% of the total outstanding share capital of the company and 36.63% of total voting power of the company. The company has not yet granted TNF any rights to require the company to register these private equity securities. The definitive agreement provides that over the next 30 days the company and TNF will endeavor to agree on terms to be acceptable to both parties, to registration rights with respect to the Class A ordinary shares. As consideration for the share purchase, TNF delivered to the company a promissory note in the amount of $8M, that is payable in full on January 13, 2020. Also, as part of the transaction, TNF was granted the right to designate up to two qualified directors to the board, subject to ratification by the shareholders.

08:10 EST Flexion 'steadfast' in view that LOU not required for Zilretta - Flexion executives say they remain "steadfast" in the view that a limitation of use, or LOU, is not required for Zilretta, but they appreciate the positive changes to prescribing information that have been approved by the FDA.

08:05 EST Santa Fe Gold to begin recommissioning Billali mine to boost production - Santa Fe Gold Corporation, with 148 mining claims covering 42 mine sites and potential mines to begin recommissioning forthwith, its Billali Mine to substantially increase output of its economic grade, high silica vein gold and silver siliceous vein material: This, in addition to its already expanding production from its Jim Crow mine for delivery to a major smelter, under arrangement to ship all of its maximum attainable output as it builds to higher levels. In order to achieve this, Management will continue to develop and increase production of gold and silver siliceous vein material from the Jim Crow Mine. Concurrently with this ongoing development of the Jim Crow, the company will immediately begin recommissioning the nearby Billali Mine to further increase overall production of similar siliceous Gold and Silver vein material from that property. Both of these mines have potential for expansion by developing already known parallel veins and extending the present workings along known strike lengths and by developing new levels throughout.

07:49 EST Zai Lab announces NMPA approval of ZEJULA in China - Zai Lab Limited (ZLAB) announced the China National Medical Products Administration approved the New Drug Application for ZEJULA, an oral, once-daily poly polymerase inhibitor as maintenance therapy for adult patients with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer, who are in a complete or partial response to platinum-based chemotherapy. ZEJULA is a potent and highly selective PARP1/2 inhibitor that does not require BRCA mutation or other biomarker testing prior to administration. The Committee of Gynecological Oncology, Chinese Anti-Cancer Association has updated its clinical practice guidelines in Consensus of Chinese Experts on Recurrent Epithelial Ovarian Cancer to recommend ZEJULA as a maintenance treatment option for platinum sensitive recurrent ovarian cancer. Zai Lab anticipates filing a supplemental NDA for ZEJULA with the NMPA as a first-line monotherapy maintenance treatment of platinum-responsive ovarian cancer patients soon after GlaxoSmithKline (GSK) files with the relevant global health authorities.

07:39 EST GLPI expands board to seven with appointment of Carol Lynton - Gaming and Leisure Properties announced that it has named Carol Lynton to its board of directors as an independent member. The appointment follows Gaming and Leisure Properties' disclosure in its April 30, 2019 Proxy Statement that the Nominating and Corporate Governance Committee of the Board was working with an executive search firm to identify and appoint a new member of the Board of Directors to diversify the board's composition as it relates to gender, race, ethnicity and age diversity. The appointment of Lynton to the board of directors brings the total number of directors to seven, six of which are independent members. Lynton is the co-founder and operating partner of The Dinex Group, which operates 17 Daniel Boulud branded restaurants.

07:36 EST Qutoutiao calls Wolfpack Research report 'false and misleading' - Qutoutiao responded to the 'false and misleading statements' made by a report published by Wolfpack Research on December 10, 2019. The company said, "The statements in the Report are based on numerous factual errors and an overall misunderstanding of the Company's business. The Report arrived at false conclusions after misquoting by a wide margin our publically disclosed financial figures and making a series of unsubstantiated claims some of which can easily be proven to be fabrications.The Company is committed to the highest standards of conduct. Our consolidated financial statements are prepared in accordance with U.S. GAAP and in compliance with the rules and regulations of the SEC...The Report's claim that our revenues are fake is due to a lack of understanding of our business and accounting standards...The Report's claim that our cash balance is fake is groundless..The Report has falsely concluded that Dianguan has no actual operations just because they "found no Dianguan staff standing by and ready to take orders", which is an unfortunate result of not understanding that Dianguan mainly operates its business through second-tier advertising agents...The Report Has Been Inconsistent and Dishonest in Referencing the Lawsuits Qutoutiao Has Handled."

07:02 EST Telus receives approval for renewal of normal course issuer bid - TELUS Corporation has received approval from the Toronto Stock Exchange for a new normal course issuer bid to purchase and cancel, when and if considered advisable, up to $250M in shares over the 12 months commencing on January 2, 2020. The new NCIB will permit the purchase of up to 8 million TELUS shares for an aggregate purchase price of up to $250M from January 2, 2020 to January 1, 2021 through the facilities of the TSX, the New York Stock Exchange and alternative trading platforms or as otherwise permitted by applicable securities laws. The maximum number of shares that can be purchased during the same trading day on the TSX is 254,315 shares, subject to certain exceptions for block purchases. As of December 18, 2019, TELUS had 604,586,502 shares issued and outstanding. Shares purchased through the facilities of the TSX, NYSE or alternative trading platforms will be purchased at market price. TELUS may also purchase shares privately pursuant to exemption orders from applicable securities regulatory authorities, and such purchases will generally be at a discount to the prevailing market price. The2019 NCIB, for which we had received approval to purchase up to 8M shares for an aggregate purchase price of up to $250M, will conclude on January 1, 2020. As of the date hereof, TELUS has not purchased any shares pursuant to its 2019 NCIB.

06:47 EST Babcock & Wilcox subsidiary awarded 2 contacts valued over $4M - Babcock & Wilcox's Scotland-based subsidiary, Diamond Power Specialty, has been awarded two contracts to supply sootblowers and furnace cleaning systems for two coal-fired power plants under construction in Asia. The combined value of these contracts is more than $4M. The equipment is scheduled for delivery to the facilities in 2021 and 2022.

06:39 EST Babcock & Wilcox announces renewal of maintenance contract for New Mexico plant - Babcock & Wilcox announced that its subsidiary, Babcock & Wilcox Construction, or BWCC, has received a contract renewal valued at more than $4M to provide maintenance services for Public Service Company of New Mexico's San Juan Generating Station in 2020. BWCC will continue to provide a variety of services at the power plant next year, including general plant maintenance, coal pulverizer equipment maintenance and outage support, as it did in 2019.

05:31 EST Volkswagen delivered 250,000th electric car in mid-December - Volkswagen announced that in mid-December, it brand delivered its 250,000th electric car. "The brand's electrified model range has been continually expanded in the following years: e-Golf and Golf GTE followed in 2014, the Passat GTE and Passat Variant GTE in 2015. Since 2018, the Passat and Tiguan have been available as plug-in hybrids in China, where they were followed by battery electric versions of the Bora and Lavida this year. The best-selling electric car has been the e-Golf with 104,000 units delivered, followed by the Golf GTE (51,000), Passat Variant GTE (42,000) and e-up! (21,000). Half of the customers opted for a battery electric vehicle and the other half for a plug-in hybrid," the company said in a statement. Reference Link

05:28 EST Volkswagen sees reaching 1M electric cars two years sooner than predicted - Volkswagen announced that its first ID.3 electric cars will appear on Europe's roads in the summer. "Over the next few years, Volkswagen intends to become the world market leader in e-mobility and is investing EUR 33 billion in these efforts throughout the group by 2024, including EUR 11 billion in the Volkswagen brand," the company said in a statement. Under the latest plans, the strategic target of one million electric cars is expected to be reached end of 2023, two years earlier than previously predicted, Volkswagen announced today. The Volkswagen brand expects 1.5 million electric cars to be produced in 2025. The company added, "In connection with its electric offensive, Volkswagen has also moved into a number of strategic business areas. With its newly established subsidiary Elli, Volkswagen is forging ahead with the development of charging infrastructure. Elli already has more than 10,000 power customers. Together with its dealers, Volkswagen is also installing its own charging stations. By 2025, a total of 36,000 charging stations are to be developed throughout Europe at dealerships and plants." Reference Link

05:18 EST Tesla extends recent rally with China Model 3 deliveries set for Monday - Shares of Tesla are extending their recent rally after the company told media outlets that it will begin delivering Model 3 vehicles built at its Shanghai factory in China on Monday. In addition, China's Ministry of Industry and Information Technology on Friday said it had added Tesla's China-made Model 3 to a list of new energy vehicles exempt from purchase tax. Tesla last night also disclosed that it entered into agreements with a syndicate of lenders in China for a secured term loan facility of up to RMB 9.0B and an unsecured revolving loan facility of up to RMB 2.25B, in each case to be used in connection with its Gigafactory Shanghai. Shares of Tesla in premarket trading are up $3.03, or 0.70%, to $433.96.

05:04 EST FAA proposes rule to make drones identifiable remotely - The Department of Transportation's Federal Aviation Administration yesterday announced a proposed rule "that would continue the safe integration" of unmanned aircraft systems, commonly called drones, into the nation's airspace by requiring them to be identifiable remotely. "Remote ID technologies will enhance safety and security by allowing the FAA, law enforcement, and Federal security agencies to identify drones flying in their jurisdiction," said U.S. Transportation Secretary Elaine Chao. The FAA will seek input on the Notice of Proposed Rulemaking for Remote Identification of drones. In the coming days, it will be accompanied by a 60-day comment period to receive public feedback and help the FAA develop a final rule. Public company drone producers include AeroVironment (AVAV), Boeing (BA) and Lockheed Martin (LMT). Reference Link