Stockwinners Market Radar for February 05, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
PAC | Hot Stocks19:20 EST GAP Airports reports January traffic up 13.1% - Grupo Aeroportuario del Pacifico announced preliminary terminal passenger traffic figures for the month of January 2020, compared to traffic figures for January 2019. During January 2020, total terminal passengers at GAP's 14 airports increased by 13.1%, compared to the same period of the previous year. Domestic passenger traffic increased by 11.9%, while international passenger traffic increased by 14.5%.
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CCMP | Hot Stocks19:04 EST Cabot Microelectronics CEO says see continued recovery for semi industry - "We delivered another quarter of record revenue and strong profitability, driven by continued solid execution and meaningful participation in the most challenging and leading-edge technologies, as well as an improving semiconductor demand environment," said David Li, President and CEO. "Looking forward, we see continued recovery for the semiconductor industry, driven by 5G and other emerging technologies, as well as continued strength in our pipeline materials business, which gives us confidence in our ability to drive continued revenue growth and increasing profitability."
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RAMP... | Hot Stocks19:00 EST Fly Intel: After Hours Movers - UP AFTER EARNINGS: LiveRamp (RAMP) up 10.4%... Sonos (SONO) up 9.9%... e.l.f. Beauty (ELF) up 8.7%... Axcelis Technologies (ACLS) up 7.2%... Arrowhead Pharma (ARWR) up 6.7%... Curo Group (CURO) up 6.2%... QuinStreet (QNST) up 6.2%... Zynga (ZNGA) up 5.2%... Glu Mobile (GLUU) up 4.5%... Central Garden & Pet (CENTA) up 4.3%... FormFactor (FORM) up 4.3%... Nuance Communications (NUAN) up 4.0%... Coherent (COHR) up 3.7%... CSG Systems (CSGS) up 3.4%... iRobot (IRBT) up 3.4%... Ensign Group (ENSG) up 3.3%... Fox Corp (FOXA) up 3.2%... Spirit Airlines (SAVE) up 2.4%... Flowers Foods (FLO) up 2.2%... Lincoln National (LNC) up 2.0%... Cognizant (CTSH) up 1.6%... DOWN AFTER EARNINGS: GoPro (GPRO) down 13.5%... EnerSys (ENS) down 12.9%... Angi Homeservices (ANGI) down 10.7%... Amerco (UHAL) down 10.3%... Ceridian HCM (CDAY) down 9.2%... Peloton (PTON) down 8.0%... Two Harbors (TWO) down 5.0%... Twilio (TWLO) down 4.7%... PayCom (PAYC) down 4.6%... FireEye (FEYE) down 4.5%... NetGear (NTGR) down 3.6%... Yum China (YUMC) down 3.0%... MaxLinear (MXL) down 2.6%... GrubHub (GRUB) down 2.0%... Ichor Holdings (ICHR) down 1.9%... Qualcomm (QCOM) down 1.8%... IAC (IAC) down 1.8%... MetLife (MET) down 1.6%. ALSO LOWER: Funko (FNKO) down 36.0% after below-consensus preliminary Q4 outlook... ION Geophysical Corp (IO) down 20.6%... Applied Genetic Technologies (AGTC) down 8.7% after equity offering... Movers as of 18:15ET.
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SU | Hot Stocks18:50 EST Suncor renews share repurchase program of up to C$2B - Suncor-s current $2.5B share repurchase program will expire at the end of February. As a result and based on expectations of sustainable future cash flow, Suncor's board has approved a renewal of its share repurchase program of up to $2B beginning March 1.
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SU | Hot Stocks18:49 EST Suncor increases dividend 11% to C$0.465 per share - Suncor Energy approved a quarterly dividend of C$0.465 per share on its common shares, payable March 25 to shareholders of record at the close of business on March 4. This dividend represents an approximate 11% increase over the prior quarter.
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CME | Hot Stocks18:45 EST CME Group raises quarterly dividend 13% to 85c from 75c per share - The dividend is payable March 25 to shareholders of record as of March 10.
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VLRS | Hot Stocks18:41 EST Volaris reports preliminary January traffic up 18.4% y-o-y - Volaris reported preliminary January 2020 traffic results. In January 2020, capacity measured by Available Seat Miles or ASMs increased by 11.5% vs the same period of last year. In January 2020, demand measured by Revenue Passenger Miles or RPMs increased by 18.4% year over year. Volaris transported a total of 1.9 million passengers during the month of January, an increase of 17.1% year over year. Network load factor for January 2020 was 86.5%, an increase of 5.0 pp year over year.
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CLX | Hot Stocks18:23 EST Clorox CEO: No impact yet on sales from coronavirus - In an interview on CNBC's Mad Money, Clorox CEO Benno Dorer discussed the coronavirus. He said, "We do have products that can help combat the coronavirus, but we have not seen an impact on sales yet." Dorer noted that the company does not expect a shortage of inventory and would be ready to build inventory if the need arises. He stressed that they are profitable products but the company, "will not try to benefit from fears." Dorer said, "It's hard to speculate where the coronavirus will go, but we are positioned well for the back half of the year."
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NOW | Hot Stocks18:23 EST ServiceNow's Bostrom sells 3,000 common shares - In a regulatory filing, ServiceNow director Susan L. Bostrom disclosed the sale of 3,000 common shares of the company at a price of $353.6611 per share on February 4.
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AVA | Hot Stocks17:58 EST Avista raises quarterly dividend 4.5% to 40.5c per share - The common stock dividend is payable March 13 to shareholders of record at the close of business on February 21.
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LBRT | Hot Stocks17:47 EST Liberty Oilfield Services: decline in frac fleet has not led to improved pricing - The company states: "The pricing dynamic entering into 2020 is challenging. Total industry frac stages in North America were up marginally year-over-year in 2019. However, efficiency gains across the industry have raised the number of frac stages completed by each fleet by 10% to 20%, which implies a decrease of at least 10% in the active frac fleets needed to meet demand. The slowing pace of frac activity led to progressively lower demand for frac fleets through the second half of 2019, resulting in pricing pressure on services. The substantial oversupply of frac equipment in the second half of 2019 was the pricing backdrop for 2020 dedicated fleet negotiations. The supply of staffed fracturing fleets across the industry fell meaningfully in late 2019. While this trend will be helpful in the long term, we believe the impact of attrition has not yet supported an improvement in pricing for services at the start of 2020. There remains an oversupply of frac fleets in the market and we do not expect pricing to improve materially until supply of actively staffed frac equipment better balances with demand. Increased profitability will have to come from technology, increased efficiency and improved processes."
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CBZ | Hot Stocks17:39 EST CBIZ acquires Alliance Insurance Services - CBIZ acquired substantially all the assets of Alliance Insurance Services of Washington, DC, effective February 1. AIS is an independent insurance agency providing property and casualty insurance as well as personal lines to small and midsized clients across many industries including charter schools, real estate, construction, and technology in the DC metro area. AIS has nine employees and approximately $1.6M in annual revenue.
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LDOS | Hot Stocks17:36 EST Leidos awarded $7.73B Navy contract - Leidos was awarded an estimated $7.73B indefinite-delivery/indefinite-quantity contract to include all options, if exercised, for the procurement of Department of Navy, or DoN, service management, integration and transport used on the Navy Marine Corps Intranet, the outside continental U.S. Naval Enterprise Network and the Marine Corps Enterprise Network. This acquisition will provide the DoN with base network services that are currently provided under the next generation enterprise networks contract such as electronic software delivery, end user core build, endpoint detection, logistics management, network operations, security operations, service desk, transport and virtualization services. Work will be performed across the DoN and is expected to be completed in February 2025. If all options are exercised, work could continue until August 2028. The first task order will be awarded with the basic contract and fulfills the minimum guarantee of $10M with FY20 operations and maintenance funds. Contract funds for the initial task order will expire at the end of the current fiscal year. This requirement was solicited using full and open competition via the Naval Information Warfare Systems Command e-commerce central website and the Federal Business Opportunities website, with three offers received. The Naval Information Warfare Systems Command is the contracting activity and awarded the contract on behalf of the Navy's Program Executive Office for Enterprise Information Systems.
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ZNGA | Hot Stocks17:30 EST Zynga reports Q4 daily active users down 2% from last year at 20M - The company states: "our average mobile daily active users were 20M, down 2% year-over-year. The addition of Empires & Puzzles and Merge Magic! as well as audience growth in Merge Dragons! were more than offset by decreases in older mobile titles, Zynga Poker, chat games and Words With Friends. Our average mobile monthly active users, or MAUs, were 66 million, down 13% year-over-year, primarily due to declines in Zynga Poker, chat games and older mobile titles, partially offset by the additions of Empires & Puzzles, Merge Magic! and Merge Dragons!. Average mobile daily bookings per average mobile DAU, or ABPU, grew 72% year-over-year to $0.223.
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TECK | Hot Stocks17:24 EST Teck Resources says Q1 coal sales impacted by bad weather in British Columbia - Teck Resources announced that steelmaking coal sales for Q1 are being affected by bad weather in British Columbia causing rail and terminal performance issues. Among other issues, heavy snow and extreme cold in January and rock and mud slides have affected rail lines and adjacent highways. Ongoing heavy rains have delayed remediation work. The estimated impact on first quarter sales is expected to be approximately 1M tonnes, resulting in sales in the quarter of 5.1M to 5.4M tonnes. High mine site clean coal inventory levels are also expected to limit first quarter coal production if weather conditions do not improve. Separately, the raw coal feed belt at Elkview mine experienced a mechanical failure which is expected to prevent raw coal processing through the plant for approximately two weeks. Teck is implementing plans to supplement Elkview production from its other operations during this outage.
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TNXP | Hot Stocks17:17 EST Tonix Pharmaceuticals to stop enrollment in Phase 3 RECOVERY study of Tonmya - Tonix Pharmaceuticals announced that the company has decided to stop enrollment in the Phase 3 RECOVERY study of Tonmya, or TNX-102 SL 5.6 mg for the treatment of posttraumatic stress disorder following an unblinded, pre-specified interim analysis by the Independent Data Monitoring Committee. Based on interim analysis results of the first 50% of enrolled participants, the IDMC recommended stopping the trial for futility as Tonmya is unlikely to demonstrate a statistically significant improvement in the primary endpoint of overall change from baseline in the severity of PTSD symptoms, as measured by the Clinician-Administered PTSD Scale for DSM-5 between those treated with Tonmya and those receiving placebo. Preliminary blinded safety data from these participants did not reveal any serious and/or unexpected adverse events and the decision to discontinue enrolling in the study is not related to safety. The company intends to continue studying those participants currently enrolled until completion and then proceed with a full analysis of the unblinded data to determine the next steps in this program, with the topline results expected to be reported in the second quarter of 2020. The company is reallocating resources from the PTSD program to the Phase 3 fibromyalgia study of TNX-102 SL 5.6 mg that is currently enrolling and from which interim results are expected in the third quarter. "We are disappointed for patients suffering from PTSD that the interim analysis did not detect a signal that would warrant continued enrollment in this Phase 3 study." commented Seth Lederman, M.D., President and CEO. "These results underscore the difficulty in treating PTSD."
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GPRO | Hot Stocks17:16 EST GoPro says had successful return to revenue growth, profitability in FY19 - Says growth fell slightly short of expectations. Says move of camera production to Guadalajara, Mexico drove profit. Says saw great sell through during holiday season. Says 90% of revenue came from $300 and above price band. Says made significant progress in software. Says automatic editing feature grew 400%. Says wants to keep tight rein on operating expenses. Comments taken from Q4 earnings conference call.
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TNXP | Hot Stocks17:10 EST Tonix Pharmaceuticals trading halted, news pending
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DUK | Hot Stocks17:05 EST Duke Energy 'pleased' to bring coal ash settlement matter to a close - Duke Energy issued the following statement after receiving final approval of the company's agreement with the state regulator and the environmental community on how to permanently close all remaining ash basins in North Carolina. North Carolina Superior Court Judge Paul Ridgeway approved, and entered into the record, a consent order offered by the company, North Carolina Department of Environmental Quality and the Southern Environmental Law Center representing a number of community groups. The order details many of the provisions in the settlement agreement reached by the parties on December 31, 2019 and resolves the pending legal disputes over ash basin closure plans. "We are very pleased to bring this matter to a close and fully focus on building the cleaner energy future our customers want and deserve," the company said. "The landmark agreement between Duke Energy, the environmental regulator and environmental community enjoys support across North Carolina and serves as a powerful example of what's possible when we work together to protect people and the environment while managing costs."
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LQMT | Hot Stocks17:02 EST Liquidmetal Technologies enters manufacturing partnership with Eutectix - Liquidmetal has joined with Eutectix, a producer of BMGs, to form a manufacturing partnership. The partnership combines licensed IP, specialized equipment, and facilities to support manufacturing performed by Eutectix in Tolleson, Arizona. The operation supports a broader range of alloys, including beryllium-containing formulations, produced using Liquidmetal's latest technology. U.S.-based customers can expect continuity, as legacy applications will be supported. Eutectix is able to provide U.S.-based, high-volume alloy fabrication and recycling operations. Moreover, Eutectix's customer base provides access to new markets for BMGs. Liquidmetal Technologies will continue to work closely with its Chinese manufacturing partner, Yihao Metals, leveraging advances in BMG manufacturing capabilities and low-cost offshore production.
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LGIH | Hot Stocks17:02 EST LGI Homes reports 434 home closings in January - LGI Homes, Inc. announced 434 homes closed in January 2020, up from 269 home closings in January 2019, representing year-over-year growth of 61.3%. As of the end of January 2020, the company had 105 active selling communities.
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UA UAA | Hot Stocks17:02 EST Under Armour names Colin Browne as COO, Paul Fipps as CXO - Under Armour announced that Colin Browne has been appointed COO and Paul Fipps has been named Chief Experience Officer, a newly created position. Effective February 17th, both positions will report directly to President and CEO Patrik Frisk. Browne previously served as the company's Chief Supply Chain Officer from 2017 to 2020 with responsibility for all global operations related to product sourcing and logistics after joining in 2016 as President of Global Sourcing. Prior to that, he was Vice President and Managing Director of Supply Chain at VF Corporation. Previously, Fipps served as Chief Digital Officer from 2018 through 2020 with responsibility for global eCommerce, digital products, software engineering, large-scale technology investments and Under Armour's Connected Fitness business, and as Chief Technology Officer from 2017 through 2018.
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AQN | Hot Stocks17:02 EST Algonquin Power names Arun Banskota president - Algonquin Power & Utilities Corp. announced the appointment of Arun Banskota to the newly-created position of President. Banskota will work closely with Chief Executive Officer Ian Robertson and other members of the Executive Team to transition into the role of Chief Executive Officer in 2020. "Arun brings to APUC a unique combination of experience in renewable energy development, construction, financing, energy marketing and operations, with proven P&L responsibility and a results-driven leadership style," said APUC Chairman Ken Moore. "This experience, together with his hands-on knowledge of the role of disruptive technology innovation in the marketplace, puts APUC in a very strong position to build on the outstanding growth and financial performance achieved over the past three decades." Following the transition, Robertson is expected to continue to contribute to the company through a collaborative investment platform focused on identifying and partnering with APUC on growth and development opportunities.
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LEVL | Hot Stocks17:01 EST Level One CFO David Walker buys over $100K in company shares - Level One CFO David Walker disclosed in a filing that he had purchased 4,000 shares of company stock at an average price of $25.20 per share on February 3. The total transaction value of the purchase was $100,800.
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ORLY | Hot Stocks16:55 EST O'Reilly Automotive increases share repurchase authorization by additional $1B - O'Reilly Automotive announced that its Board approved a resolution to increase the authorization amount under its share repurchase program by an additional $1.0 billion, raising the aggregate authorization under the program to $13.75 billion. The additional $1.0 billion authorization is effective for a three-year period, beginning on February 5, 2020.
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FLO | Hot Stocks16:53 EST Flowers Foods CEO says Q4 results 'better than expected' - Ryals McMullian, Flowers Foods' president and CEO, said, "We are pleased to report solid fourth quarter performance and record sales and operating cash flow for the full year. In the quarter, results were better than expected, driven by continued top-line momentum and improved profitability. During the quarter, we saw growth from our key brands, made important progress in our portfolio and supply chain optimization efforts, and continued to invest in our team's capabilities. As a result, we ended the year on the right trajectory, demonstrating clear progress against our dual imperatives of sales growth and margin expansion." McMullian continued, "Looking ahead, our 2020 plans engage the core value creation strategies we have put in place to focus on brands, manage costs, pursue smart acquisitions, and develop our team. We expect fiscal 2020 sales growth in-line with our long-term targets driven by the strength of our national brands and the expected stabilization and growth of our foodservice and cake businesses. We intend to drive earnings growth by executing against our initiatives to improve manufacturing efficiencies, optimize our portfolio and supply chain network, and reduce fixed costs. We made great strides in 2019 and are now moving aggressively to capture the opportunities we see in 2020 that we believe can enhance shareholder value."
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NOC | Hot Stocks16:48 EST Northrop Grumman names David Keffer as CFO, succeeding Kenneth Bedingfield - The Northrop Grumman board of directors has elected David Keffer corporate vice president and CFO, effective Feb. 17. He will report to Kathy Warden, chairman, CEO and president. Keffer will succeed Kenneth Bedingfield, who will remain with the company until Feb. 21, to facilitate a smooth transition. Keffer served as a general partner for Blue Delta Capital Partners, a role he held since 2018. Previously, he was CFO for CSRA, Inc. and CFO for SRA International.
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IRBT | Hot Stocks16:41 EST iRobot CEO: 'We expect challenging U.S. market conditions to persist into 2020' - "We closed 2019 on a positive note by delivering fourth-quarter revenue, operating income and EPS that exceeded our October plans," said Colin Angle, chairman and CEO of iRobot. "Our financial performance this quarter benefited from the combination of strong revenue growth in the United States and disciplined spending. Throughout 2019, we executed well on all major elements of our strategy while navigating increasingly challenging market conditions in the U.S. and intense price competition in EMEA. As a result, we maintained our Roomba leadership, took important steps to further broaden our product portfolio within and beyond RVCs, advanced our efforts to build out our Smart Home ecosystem, and made tangible progress diversifying our supply chain activities." "Our newest pricing and promotional tactics played an important role in enabling us to defend our category leadership and hold share in the U.S. despite aggressive price competition," Angle continued. "We believe that consumer demand for RVCs remains fundamentally healthy, although we expect challenging U.S. market conditions to persist into 2020. As we move forward, we are focused on executing against our 2020 strategic priorities in ways that will enable us to drive near-term growth, fortify our leadership and set us up to capitalize on a broad range of exciting longer-term opportunities." Commenting specifically on the company's 2020 financial outlook, Angle added, "2020 is shaping up to be a year of transition for iRobot. We anticipate 2020 revenue growth in the range of 9% to 11%, although our operating profitability and EPS are expected to be constrained primarily by pricing and promotional activity and tariff costs. While we plan to continue carefully managing our spending this year, it is imperative that we continue funding the investments that we believe will enable us to rebound in 2021 and beyond with accelerated revenue growth, meaningful improvements in operating income and robust operating cash flow generation."
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GRUB | Hot Stocks16:37 EST GrubHub sees FY20 adjusted EBITDA at least $100M
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GRUB | Hot Stocks16:36 EST GrubHub sees Q1 adjusted EBITDA $15M-$25M
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GRUB | Hot Stocks16:36 EST GrubHub CEO says 'making good progress on key initiatives' - "We strengthened both sides of our marketplace during the fourth quarter, adding 1.4 million active diners and more than doubling our restaurant selection from just a quarter ago," said Matt Maloney, Grubhub founder and CEO. "We are making good progress on the key initiatives we outlined last quarter. We added more than 15,000 partnered and over 150,000 non-partnered restaurant options for our diners and we also launched a number of new loyalty programs for our restaurant partners."
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CP | Hot Stocks16:35 EST Canadian Pacific moves record 2.09 million metric tons of grain in January - Canadian Pacific moved 2.09 million metric tons of Canadian grain and grain products in January, breaking the January 2019 record by 200,000 metric tons. CP's 8,500-foot High Efficiency Product train model, Dedicated Train Program and new hopper cars are significant factors in CP's record-breaking January. The new hopper cars can carry 10 percent more volume and 15 percent more weight compared to the older cars they are replacing.
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YUMC | Hot Stocks16:34 EST Yum China says Q4 'marked a strong finish to a solid year' - "Fourth quarter results marked a strong finish to a solid year. We achieved our 13th consecutive quarter of system sales growth since the spin-off, and our operating profit grew double digits," said Joey Wat, CEO of Yum China. "In 2019, we expanded our footprint with over a thousand new stores, setting a new record for Company annual store openings and further strengthening our leading market position. We continue to innovate and invest across multiple fronts to ensure an excellent customer experience, both online and in-store." Joey Wat continued, "Looking into 2020, the coronavirus outbreak is a major public health situation in China. Our top priority is the health and safety of our employees and customers. We have implemented various preventative measures across our restaurants and other workplaces to help protect our employees and customers. We will continue to monitor this fluid situation and respond accordingly. Despite this challenge and disruption to our business, we remain confident in the long-term market potential in China. We are differentiated by our world-class development, operations and innovation capabilities, which drove our success in the past and will help sustain our growth for years to come." Andy Yeung, CFO of Yum China, added, "Our solid profit growth and healthy balance sheet enabled us to return $442 million to shareholders in 2019 through dividends and share repurchases. Looking ahead, while it is difficult to fully ascertain the expected impact of the coronavirus outbreak at this time, we can reasonably expect it to materially affect our 2020 sales and profits. Commodity and wage inflation are also expected to remain challenging, especially in the first half. Despite the headwinds, we are committed to grow in China and intend to step up our investment in digital, supply chain and emerging brands to support that growth."
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YUMC | Hot Stocks16:33 EST Yum China says opened 1,006 new stores in 2019 - Bringing total store count to 9,200 across more than 1,300 cities.
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YUMC | Hot Stocks16:32 EST Yum China sees FY20 CapEx $500M-$550M - Sees 800-850 gross new stores.
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YUMC | Hot Stocks16:31 EST Yum China reports Q4 sames store sales up 2%, total system sales up 8% - In Q4: Total system sales grew 8% year over year, with growth of 10% at KFC and 1% at Pizza Hut, excluding F/X. Same-store sales grew 2% year over year, with a 3% increase at KFC and flat same-store sales at Pizza Hut, excluding F/X. Restaurant margin was 12.4%, compared with 11.5% in the prior year period.
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MPWR | Hot Stocks16:29 EST Monolithic Power increases quarterly cash dividend to 50c per share - The company also announced that its board has approved an increase in the quarterly cash dividend from 40c per share to 50c per share. The first quarter dividend of 50c per share will be paid on April 15 to all stockholders of record as of the close of business on March 31.
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SONO | Hot Stocks16:29 EST Sonos says on track to achieve FY20 financial targets - The company states : "As we look to the remainder of the year, we believe we are on track to achieve the financial targets we set out for fiscal 2020, which are consistent with our long-term goal of annual revenue growth of 10%+ and annual adjusted EBITDA growth of 20%+. We intend to continue our cadence of launching at least two new products per year. We are also increasingly thinking about our products as more than hardware and look forward to being able to include additional business models as part of our future product launches."
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CBOE | Hot Stocks16:28 EST Cboe Global Markets reports January options ADV up 25% y/o/y - Reports Futures ADV up 17%. Reports U.S. Equities ADV down 3.7%. Reports European equities ADV down 25.8%. Reports Global FX ADV down 7.5%. Total options ADV at C2 Options Exchange during January set a new all-time monthly record with more than 934,900 contracts traded per day. Total options ADV at EDGX Options Exchange also set a new all-time monthly record in January with more than 827,000 contracts traded per day. Total ADV in Mini-SPX options trading set a new record in January with more than 124,700 contracts traded per day.
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GPRO | Hot Stocks16:28 EST GoPro appoints Brian McGee to COO, effective February 3 - Brian McGee, who has served as GoPro's CFO since March 2016, has been appointed to COO in addition to his ongoing role as CFO, effective February 3.
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SONO | Hot Stocks16:28 EST Sonos says company had 'very strong holiday period' - The company states: "We had a very strong holiday selling period, led by growth across all product categories. As you know, we limit regular promotions, keep our campaigns few and targeted throughout the year, and believe strongly in maintaining our premium position in the marketplace. We planned our marketing efforts to be deeper and broader this holiday as compared to last year given how the holiday selling environment has evolved. We are focused on maintaining our strong competitive positioning and market share during this important selling period but will continue to be selective throughout the year about when we promote. Despite our competitors offering even more significant discounts during this holiday season, we gained share, which we believe underscores the quality of our products, the uniqueness of our platform, the strength and premium positioning of our brand and our approach to running these promotions."
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CWK | Hot Stocks16:26 EST Cushman & Wakefield to acquire Pinnacle Property Management Services - Cushman & Wakefield announced that it has entered into a definitive agreement to acquire Pinnacle Property Management Services, LLC, the third-largest multifamily property management firm in the U.S. The acquisition-which is subject to customary closing conditions, including receipt of all applicable antitrust approvals-will establish a foothold for Cushman & Wakefield across 20 key U.S. multifamily markets and will significantly enhance the firm's ability to meet the ever-growing demand for fully integrated real estate services from multifamily investors.
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FOX FOXA | Hot Stocks16:26 EST Fox Corp. CEO says 'delivering on operational and financial objectives' - Commenting on Q2 results, Executive Chairman and CEO Lachlan Murdoch said: "Our results reaffirm that Fox Corporation is delivering on the operational and financial objectives that we established less than twelve months ago. Our brands are exhibiting strength in a competitive marketplace and delivering healthy top-line growth as we continue to invest strategically to expand the reach of our portfolio and further diversify our revenue streams. Meanwhile, we are taking a balanced approach to capital allocation, including the return of $500 million to shareholders in the form of share repurchases since our last earnings release. Coming off an incredibly successful Super Bowl LIV and with the buildup to the November Presidential Election ahead of us, we look forward to continuing our momentum through calendar 2020."
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COST | Hot Stocks16:25 EST Costco reports January SSS up 6.6%, up 5.3% excluding fuel - Costco Wholesale Corporation reported net sales of $11.57 billion for the retail month of January, the four weeks ended February 2, 2020, an increase of 8.0 percent from $10.71 billion last year.For the twenty-two weeks ended February 2, 2020, the company reported net sales of $68.56 billion, an increase of 7.6 percent from $63.70 billion during the similar period last year.
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FOX FOXA | Hot Stocks16:25 EST Fox Corp. reports Q2 affiliate revenue growth of 7% - The company reported total quarterly revenues of $3.78B, a 5% increase from the $3.58B of revenues in the prior year quarter. This increase includes affiliate revenue growth of 7%, reflecting growth at both the Television and Cable Network Programming segments, and advertising revenue growth of 1%, which was achieved despite the comparative effect of record political advertising revenues from the mid-term elections at the company's owned and operated television stations in the prior year quarter. The company also reported a 32% increase in other revenues, led by growth at the Cable Network Programming segment and higher revenues at the Other, Corporate and Eliminations segment attributable to the operation of the FOX Studios Lot for third parties and the consolidation of Credible Labs Inc.
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CWK | Hot Stocks16:24 EST Cushman & Wakefield to buy Hunt Companies' interest in Pinnacle Property - Cushman & Wakefield has entered into a definitive agreement to buy Hunt Companies' majority interest in Pinnacle Property Management Services. Hunt invested in Pinnacle in 2014. Pinnacle manages more than 169,000 units across 839 properties for a variety of top multifamily owners including institutional, private and foreign investors, financial institutions, pension funds, private partnerships, sole owners, and government housing groups.
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ZVO | Hot Stocks16:24 EST Zovio announces agreement with SevenSaoi Capital - Zovio announced that it has appointed Michael Cole to its board of directors and as a member of its compensation and merger & acquisitions oversight committees. Cole is the managing member of SevenSaoi Capital. Through its affiliates, SevenSaoi beneficially owns approximately 6.8% of Zovio's common stock. In connection with Cole's appointment as a director, SevenSaoi has entered into a customary agreement with Zovio under which, among other things, the parties will cooperate to identify an additional person to join the board as a director by next year's annual meeting. The agreement also provides that SevenSaoi will support Zovio's slate of directors at its upcoming annual meeting and obligates SevenSaoi to abide by customary standstill restrictions, including foregoing a proxy solicitation at this year's meeting.
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KMPR UAL | Hot Stocks16:24 EST Kemper names United Airlines CFO to board - Kemper (KMPR) announced that its board of directors has elected Gerald Laderman as a director effective February 20, 2020. Laderman currently serves as chief financial officer and executive vice president of United Airlines (UAL), and has responsibility for developing United's overall financial strategy including cost management, capital allocation and balance sheet optimization. "Gerry's deep financial expertise and strategic leadership make him an ideal candidate for Kemper's board," said Board Chairman Robert J. Joyce. "His long tenure with United in numerous high-profile positions will give us valuable perspective, and we are confident he will make a meaningful contribution."
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SAVE | Hot Stocks16:22 EST Spirit Airlines reportd Q4 TRASM down 3.6% versus Q4 last year
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DHX | Hot Stocks16:22 EST DHI Group sees positive revenue growth in second half of 2020 - DHI expects revenue will turn to positive year-over-year growth in the second half of 2020, primarily driven by product development and increased investment in sales resources. Consensus for FY20 revenue is $153.47M. The company expects an Adjusted EBITDA margin of 20% for 2020, given its increased investment in product and engineering capacity and the ramp up of sales resources to accelerate revenue growth. The company is not providing guidance for net income because it cannot reasonably assess the impact of stock-based compensation and income tax expense.
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ES | Hot Stocks16:21 EST Eversource raises quarterly dividend by 6.1% to 56.75c per share - The dividend is payable on March 31, 2020, to shareholders of record as of the close of business on March 4, 2020.
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ANGI | Hot Stocks16:20 EST Angi Homeservices sees FY20 adjusted EBITDA $200M-$250M - Sees FY20 operating income $30M-$80M.
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BCEL MRK | Hot Stocks16:19 EST Atreca in strategic research collaboration with Merck for oncology - Atreca (BCEL)announced that it has entered into a strategic research collaboration with Merck (MRK) to identify the antigenic targets of select antibodies discovered by Atreca with potential utility in oncology. "We are excited to collaborate with Merck, a global leader in oncology, to identify novel antibody targets that may hold the potential to transform the future treatment of cancer," said John Orwin, Chief Executive Officer. "To date, our differentiated discovery platform has yielded over 1,600 antibodies that bind selectively to non-autologous tumor tissue. We are pleased Merck has recognized the potential of our differentiated discovery platform to deliver novel antibody-target pairs in oncology and will be working with us to elucidate the antigenic targets of certain antibodies we have generated from active human immune responses, accelerating our drug development efforts. We look forward to a highly productive collaboration."
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KMPR | Hot Stocks16:17 EST Kemper raises quarterly dividend by 7% to 30c per share - The dividend is payable on March 3, 2020 to shareholders of record as of February 18, 2020.
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ALB | Hot Stocks16:16 EST Albemarle CEO Luke Kissam to retire for health reasons effective June, 2020 - Albemarle announced that Chairman and CEO Luke Kissam has advised the Board of Directors that he will retire from his roles as an officer and director of Albemarle effective June 2020, for health reasons. The Board of Directors will be conducting a comprehensive search process, which will include internal and external candidates.
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PLUS | Hot Stocks16:16 EST ePlus sees FY20 as 'year of significant growth' - "Year-to-date results set the stage for fiscal 2020 to be a year of significant growth for ePlus, driven by our ability to capture demand from our growing base of mid-market and enterprise customers for complex solutions that optimize and protect their IT initiatives. In addition to our organic growth, we have successfully integrated the August, 2019 ABS Technology acquisition, and we continue to evaluate additional acquisition opportunities that would expand our technology capabilities and our geographic reach," the company stated.
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MTRX | Hot Stocks16:15 EST Matrix Service reports backlog at December 31, 2019 of $872.2M
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PTON | Hot Stocks16:14 EST Peloton shares fall 9% to $29.83 following Q2 results
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WERN | Hot Stocks16:13 EST Werner sees FY20 TTS truck growth down 3% to up 1%
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COHR | Hot Stocks16:12 EST Coherent announces $100M share repurchase program - The program will expire on January 31, 2021 if not fully utilized earlier.
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ELF | Hot Stocks16:09 EST e.l.f. Beauty sees long-term adjusted EBITDA growth outpacing net sales growth - "Over the next three years, absent major shelf space gains or strategic extensions, the company expects compounded annual revenue growth in the low to mid-single digits. With significant space gains or strategic extensions, the company expects revenue growth in the mid to high-single digits," the company said. "In both cases, the company expects adjusted EBITDA growth to outpace net sales growth."
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GRUB | Hot Stocks16:09 EST GrubHub reports Q4 active diners 22.6M - In Q4: Active Diners: 22.6M, a 28% year-over-year increase from 17.7M Active Diners in the fourth quarter of 2018. Daily Average Grubs: 502,600, a 8% year-over-year increase from 467,500 DAGs in the fourth quarter of 2018. Gross Food Sales: $1.6B, a 13% year-over-year increase from $1.4B in the fourth quarter of 2018.
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CTSH | Hot Stocks16:08 EST Cognizant increases quarterly dividend 10% to 22c per share - Cognizant increased its quarterly cash dividend 10% to 22c per share on Cognizant Class A common stock for shareholders of record at the close of business on February 18, payable on February 28.
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QCOM | Hot Stocks16:08 EST Qualcomm says Q2 outlook includes estimate of potential coronavirus impact - Qualcomm said: "Our guidance for revenues and EPS for the second quarter of fiscal 2020 excludes QTL revenues from Huawei and includes QTL revenues from two key Chinese licensees under license agreements that were extended and now expire on March 31, 2020. Our guidance for the second quarter of fiscal 2020 includes an estimate of the potential impact of the recent outbreak of a coronavirus; however, the actual impact may differ materially."
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IRBT | Hot Stocks16:04 EST iRobot names Julie Zeiler as CFO, succeeding Alison Dean - iRobot announced that the company is appointing current vice president of finance Julie Zeiler as its next executive vice president and chief financial officer, effective May 4. She will succeed Alison Dean, the company's CFO since 2013, who will be stepping down to spend more time with her family before pursuing other personal and professional interests. Alison will remain with iRobot as an advisor for an undetermined amount of time to ensure a smooth transition of responsibilities to Julie.
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VAPO | Hot Stocks16:02 EST Vapotherm gets CE Mark for OAM in European Union - Vapotherm announced that it has received the CE Mark for its Vapotherm Oxygen Assist Module, or OAM. When used with a Precision Flow(R) system, the Vapotherm OAM helps clinicians keep their patients within the target oxygen saturation range more effectively than with manual control alone. Keeping babies in the prescribed oxygen saturation range may reduce the health risks associated with dosing too much, or too little oxygen - such as visual or developmental impairment in premature infants.
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JJSF | Hot Stocks16:02 EST J & J Snack Foods acquires assets of Bama ICEE - J & J Snack Food announced that its wholly owned subsidiary, The ICEE Company, has acquired the assets of BAMA ICEE, based in Birmingham, Alabama. BAMA ICEE does business in Alabama and Georgia with annual sales of approximately $3.5M. Dan Fachner, President of The ICEE Company, commented "We are truly excited to announce the acquisition of Bama ICEE. With this purchase we now own the rights to ICEE across the 50 states as well as worldwide. We look forward to continuing to grow and enhance the iconic brand ICEE."
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ARWR | Hot Stocks16:01 EST Arrowhead reports clinical data on ARO-APOC3 and ARO-ANG3 - Arowhead Pharmaceuticals reported promising interim clinical results from the ongoing Phase 1/2a studies of its two RNAi-based cardiometabolic candidates, ARO-APOC3 targeting apolipoprotein C-III (APOC3) being developed as a potential treatment for patients with severe hypertriglyceridemia, and ARO-ANG3 targeting angiopoietin like protein 3 (ANGPTL3) being developed as a potential treatment for dyslipidemias and metabolic diseases. Javier San Martin, M.D., chief medical officer at Arrowhead, said: "The interim results from the multiple-dose portion of the Phase 1 studies of Arrowhead's cardiometabolic candidates ARO-APOC3 and ARO-ANG3 are highly encouraging and support our belief that RNAi may be the optimal mechanism to inhibit APOC3 and ANGPTL3. We achieved high levels of APOC3 and ANGPTL3 protein knockdown, which led to impressive reductions in triglycerides and other lipid parameters. In addition, the long duration of effect of ARO-APOC3 and ARO-ANG3 enables a convenient once every 4 months or, possibly, once every 6 months dosing regimen, which also has the potential to improve patient compliance over other agents and mechanisms that require more frequent dosing. From a safety and tolerability perspective, both ARO-ANG3 and ARO-APOC3 data continue to look similar to our other TRiM(TM) candidates. There have been no drug-related discontinuations, and the most common adverse events reported were headache, respiratory tract infections, and local injection site reactions. This high level of pharmacologic activity with good safety and tolerability to date is precisely what we were hoping for. We look forward to further investigating the potential for ARO-APOC3 and ARO-ANG3 to provide clinical benefits in patients."
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FNWB | Hot Stocks15:00 EST First Northwest Bancorp raises quarterly dividend 25% to 5c per share - The dividend will be paid on March 6 to shareholders of record on February 21.
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I | Hot Stocks14:59 EST Intelsat down 12% after Bloomberg says bankruptcy filing being considered - Intelsat SA is considering a possible Chapter 11 bankruptcy filing if U.S. regulators don't increase the amount of compensation the company would receive for giving up some of its C-band spectrum, according to Bloomberg's Todd Shields, citing a person close to the company. Intelsat has hired bankruptcy experts at Kirkland & Ellis to prepare for a possible restructuring if the Federal Communications Commission moves forward with an auction of the C-band airwaves at the currently contemplated price, which is seen as too low, the report said. Following the report, shares of Intelsat were down 50c, or 12.5%, to $3.47.
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NKE | Hot Stocks14:02 EST Nike announces 'breakthrough innovations' ahead of Tokyo 2020 Games - Nike unveiled what the company described at "breakthrough innovation" for athletes competing in the Tokyo 2020 Games, including "footwear designed to provide runners with a measurable performance benefit for a new era of competition." The NEXT% platform, introduced by marathoner Eliud Kipchoge, will now expand into new disciplines following its success in distance running, the company reported. Nike also debuted new collections featuring sustainable materials for all athletes. "As the growing climate emergency continues to disrupt competition and training, Nike's sustainable innovations signal the brand's commitment to helping protect the future of the planet - and, consequently, the future of sport," Nike stated.
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MCFT... | Hot Stocks13:53 EST MasterCraft jumps after quarterly report, recreation peers follow - Shares of companies in the leisure and recreation space are trading higher after MasterCraft Boat Holdings (MCFT) announced financial results for its second quarter. QUARTERLY RESULTS AND GUIDANCE: MasterCraft reported adjusted earnings per share of 43c on revenue of $99.6M. Analysts were modeling an EPS number of 35c on revenue of $86.75M for the quarter. Q2 sales were lower than the same quarter last year due to a reduction in unit sales volumes across each of the company's reportable segments to allow its dealers to right-size pipeline inventory levels after the weather-impacted summer selling season and continuing softness in the saltwater category, the company said in a statement. The boat maker reaffirmed its full fiscal year 2020 view for EPS to be down in the high-single digit percent range. "As we look to the second half of the year, we continue to be pleased by the retail momentum we experienced in the first half of the year, early boat show results and the successful roll-out of our new Aviara brand," said CEO Fred Brightbill, who has transitioned to the permanent CEO role. PRICE ACTION: Shares of MasterCraft are off earlier highs but are currently up nearly 11% to $18.96. OTHER RECREATION STOCKS JUMP: Shares of other companies in the space including, Polaris (PII), Brunswick (BC), Malibu Boats (MBUU), Marine Products (MPX), Camping World (CWH), Harley-Davidson (HOG) and Winnebago (WGO) are all higher in afternoon trading.
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BIIB | Hot Stocks13:43 EST Biogen extends gain to over 19% after Tecfidera patent challenge victory - At time of writing, Biogen shares are up $54.71, or 19.3%, to $338.00.
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BIIB... | Hot Stocks13:33 EST Biogen surges after USPTO denies Mylan challenge to multiple sclerosis drug - Shares of Biogen (BIIB) have jumped in afternoon trading after the United States Patent and Trademark Office issued a final written decision in Mylan Pharmaceuticals' (MYL) challenge of claims that 1-20 of U.S. Patent No. 8,399,514 owned by Biogen are unpatentable. Mylan "has not shown, by a preponderance of the evidence," that the challenged claims of the '514 patent are unpatentable, a judge wrote in the ruling posted to the site of the USPTO. The subject matter claimed in the '514 patent is directed to methods of treating patients needing treatment for Multiple Sclerosis with Biogen's Tecfidera drug. Following news of the judgement, Biogen shares have surged $38.99, or 13.76%, to $322.28. Meanwhile, shares of Mylan are up 3% in afternoon trading to $22.90 and shares of Alkermes (ALKS), a partner of Biogen's, are up 10.5%.
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BIIB | Hot Stocks13:28 EST Biogen trading resumes
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BIIB... | Hot Stocks13:27 EST Biogen jumps after Tecfidera patent challenge win over Mylan - Biogen (BIIB) won a challenge by Mylan (MYL) regarding the validity of a patent on its multiple sclerosis drug Tecfidera. Mylan failed to prove that the Tecfidera patent shouldn't have issued, the U.S. Patent Trial and Appeal Board said in a ruling. The Biogen patent expires in 2028. Shares of Biogen are up 11%, or $31.55, to $314.84 in afternoon trading. Shares of Alkermes (ALKS), a partner of Biogen's, are up 10.5%, or $1.85, to $19.37.
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FDX | Hot Stocks13:23 EST FedEx: Safety, well-being of team members is top priority amid coronavirus
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BIIB | Hot Stocks13:23 EST Biogen trading halted, volatility trading pause
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FDX | Hot Stocks13:23 EST FedEx says FedEx Express continues to operate flights to/from China
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FDX | Hot Stocks13:23 EST FedEx: Work, travel restrictions may impact shipments to/from Wuhan - FedEx said in a statement: "FedEx is adhering to all regulations and guidelines from government authorities related to containment of the coronavirus. These work and travel restrictions may affect shipments inbound and outbound to/from Wuhan and other impacted cities within Hubei Province, as well as shipments moving within those cities. Customers can visit fedex.com to check the status of their shipments. FedEx Express continues to operate inbound and outbound flights to/from China on a regularly scheduled basis as local conditions and restrictions allow, and we are taking recommended precautions in terms of pilot, crew and customer health and safety. The safety and well-being of our team members is our top priority, and we are closely monitoring guidance by the Centers for Disease Control and World Health Organization. In areas where outbreaks have been reported, FedEx is supplying surgical masks, hand sanitizer and alcohol wipes to team members and vendors and disinfecting facilities in areas where outbreaks have occurred. In addition, all FedEx and vendor employees reporting to work at Mainland China FedEx gateways and ramps are temperature checked when reporting to work. We are also encouraging our team members to take any signs of illness seriously and seek medical attention as needed." Reference Link
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ALKS... | Hot Stocks13:23 EST Biogen, Alkermes rally after Tecfidera patent win over Mylan
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TSLA | Hot Stocks13:18 EST Tesla extends selloff, shares down 19% to $716.72
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BVXV | Hot Stocks13:04 EST BiondVax announces publication of preliminary data from Phase 2 trial of M-001 - BiondVax Pharmaceuticals announced that preliminary data from the Phase 2 clinical trial of BiondVax's M-001 universal influenza vaccine candidate have been published. The trial was supported by the U.S. National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health. The primary objectives of the trial were to assess safety and T-cell responses to M-001. The data, which are consistent with results of previous clinical trials of M-001, indicate that both primary objectives were achieved. Analysis of the data is ongoing, and the clinical study report is expected in Q2 2020. The Phase 2 clinical trial was conducted by NIAID-funded Vaccine and Treatment Evaluation Units. The trial enrolled 120 participants aged 18 to 49 years at the following VTEU sites: Baylor College of Medicine in Houston, Texas; the University of Iowa in Iowa City, Iowa; and Cincinnati Children's Hospital Medical Center in Cincinnati, Ohio. Individuals were randomly assigned to receive either two doses of M-001 or two doses of a placebo, with the doses spaced three weeks apart. Later, near the beginning of the 2018/19 flu season, all participants were immunized with a currently marketed quadrivalent seasonal influenza vaccine. Laboratory analyses of vaccine immunogenicity were performed at the Baylor College of Medicine and Saint Louis University VTEU sites and at BiondVax Pharmaceuticals. In parallel, BiondVax's pivotal, clinical efficacy, Phase 3 trial in Europe, involving 12,463 older adults, is ongoing. Results of that trial are expected by the end of 2020.
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PTC CSCO | Hot Stocks13:01 EST PTC appoints Jill Larsen as CHRO - PTC (PTC) announced that Jill Larsen has joined the company as its chief human resources officer. In this role, Jill will oversee all aspects of PTC's human resources (HR) strategy, including talent acquisition, learning and development, culture and experience, organizational design, corporate social responsibility (CSR), and inclusion and diversity initiatives. Prior to PTC, Jill served in leadership roles at international technology companies including Cisco (CSCO) and EMC, overseeing global HR and talent functions with a focus on digitization and employee experience.
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CNI... | Hot Stocks12:53 EST North American rail traffic rose 6.2% in week ended February 1 - The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending February 1, as well as volumes for January 2020. U.S. railroads originated 1,165,733 carloads in January 2020, down 5.9%, 73,110 carloads, from January 2019 . U.S. railroads also originated 1,245,080 containers and trailers in January 2020, down 5.4%, or 71,081 units, from the same month last year. Combined U.S. carload and intermodal originations in January 2020 were 2,410,813, down 5.6%, or 144,191 carloads and intermodal units from January 2019.North American rail volume for the week ending February 1, on 12 reporting U.S., Canadian and Mexican railroads totaled 346,838 carloads, up 2.6% compared with the same week last year, and 362,669 intermodal units, up 10% compared with last year. Total combined weekly rail traffic in North America was 709,507 carloads and intermodal units, up 6.2%. North American rail volume for the first five weeks of 2020 was 3,314,263 carloads and intermodal units, down 3.9% compared with 2019. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link
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BLCM | Hot Stocks12:45 EST Bellicum Pharmaceuticals announces 1-for-10 reverse stock split - Bellicum Pharmaceuticals announced that the company effected a reverse stock split of its issued and outstanding common stock, at a ratio of 1-for-10. The effective time of the reverse stock split will be 5 p.m. ET on February 5, 2020. The company's common stock will begin trading on a split-adjusted basis commencing upon market open on February 6, 2020. As previously disclosed, at a special meeting of stockholders held on January 15, 2020, the company's stockholders voted to approve a proposal authorizing the Board of Directors of the company to amend the company's certificate of incorporation to effect a reverse stock split and a corresponding reduction in the authorized shares of the company's common stock. On January 27, 2020, the Board of Directors approved a 1-for-10 reverse stock split.
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A | Hot Stocks12:40 EST Pershing Square announce new investment in Agilent in annual letter - In its annual investor update presentation, Pershing Square announced a new investment in Agilent (A), stating in part: "We were able to opportunistically accumulate our position in Agilent at an attractive valuation, an average cost of $76.58 per share, due to share price underperformance caused by a temporary slowdown in instrument sales that has already shown early signs of recovery...While Agilent has delivered solid business performance over the last five years, we believe there is substantial opportunity for further improvement..We believe Agilent's current valuation represents a discount to intrinsic value and does not fully reflect the company's high-quality business model, increasing mix of recurring revenue, strong long-term growth potential and significant margin expansion opportunity." In afternoon trading, shares of Agilent are up $1.29, or 1.5%, to $84.81.
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RTN UTX | Hot Stocks12:37 EST Pershing exits United Technologies after loss of confidence in management - In its annual investor update presentation, Pershing Square stated in part: "We exited our position in UTX after the company announced a value-destructive merger with Raytheon...We lost confidence in management...We decided to exit our position at a small profit and redeploy our capital elsewhere rather than fight the transaction and replace management."
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CMG | Hot Stocks12:36 EST Pershing says Chipotle still has 'significant unrealized growth potential' - Pershing Sqaure said in its annual investor update, "Despite a stellar 2019, we believe Chipotle still has significant unrealized growth potential, with average restaurant sales still 12% below peak levels and margins ~700bps below peak levels."
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ADP | Hot Stocks12:35 EST Pershing Square exits ADP stake with valuation 'more accurately priced' - In its annual investor update presentation, Pershing Square stated in part: "Pershing Square remained actively engaged with ADP following the 2017 proxy contest, holding ADP accountable for achieving its potential...In response to these and other transformation initiatives ADP realized accelerated margin expansion and earnings growth in 2019..Valuation at exit more accurately priced ADP's prospects for success...Pershing Square exited our investment as prospective returns became more modest as the market more accurately priced ADP's prospects for continued success."
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SBUX | Hot Stocks12:33 EST Pershing Square exits Starbucks stake following return of 73% in 19 months - In its annual investor update presentation, Pershing Square stated in part: "Starbucks is now firing on all cylinders after a successful turnaround...The market now has a much better understanding of Starbucks' business quality and growth potential...Pershing Square exited our investment after prospective returns became more modest following a total shareholder return of 73%1 in the 19 months that we owned Starbucks." In afternoon trading following Pershing's posting of its annual presentation, Starbucks shares are down $1.31, or 1.5%, to $87.07.
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GLW | Hot Stocks12:32 EST Corning raises quarterly dividend 10% to 22c per share - Corning Incorporated's Board of Directors declared a quarterly dividend of 22c per share, a 10% increase in the company's quarterly common stock dividend. The 2020 first-quarter dividend will be payable on March 31, 2020, to shareholders of record on Feb. 28, 2020.Corning's previously announced Strategy & Growth Framework for 2020 to 2023 outlines the company's priorities to capture significant organic growth and create additional value for shareholders. Under the Framework, the company intends to return $8B to $10B to shareholders, including annual dividend per common share increases of at least 10% through 2023.
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SBUX | Hot Stocks12:31 EST Pershing Square says exited stake in Starbucks
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PTNR ALLVF | Hot Stocks12:28 EST Partner Communications says to 'examine all business options' after Altice bid - Partner Communications (PTNR) informs its shareholders, following its report dated January 29, 2020 regarding the binding offer made by HOT Telecommunication Systems Ltd. and its controlling shareholder, Altice Europe N.V (ALLVF), to acquire 100% of the issued share capital of the company, that the company's board of directors has decided to examine all business options available to the company; including the proposed transaction or alternatively, to continue the current business development and business expansion of the company as an independent company. Accordingly, the company reports that these are the main points of the proposal: the proposed transaction is at a price of NIS 19.11 per share, in cash and is conditional upon the approval of the company's shareholders and the approvals of the Ministry of Communications and the Competition Authority. For the purpose of examining all business options available to the company, the board has engaged the services of Goldman Sachs (GS) as its investment banker and Ernst & Young as its independent financial advisors.
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MYO | Hot Stocks12:25 EST Myomo says not aware of any developments to account for stock volatility - Myomo announced that it is unaware of any developments concerning the business of the company that could account for the recent trading volatility of the company's common stock. The company's management believes it is prudent to advise the market of this given recent fluctuations of its stock price.
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F | Hot Stocks12:25 EST Ford discloses DOJ criminal investigation into emissions certification process - In a regulatory filing, Ford stated: "The company has been investigating a potential concern involving its U.S. emissions certification process. This matter currently focuses on issues relating to road load estimations, including analytical modeling and coastdown testing. The potential concern does not involve the use of defeat devices...We voluntarily disclosed this matter to the U.S. Environmental Protection Agency and the California Air Resources Board on February 18, 2019 and February 21, 2019, respectively. Subsequently, the U.S. Department of Justice opened a criminal investigation into the matter. In addition, we notified a number of other state and federal agencies. We continue to cooperate fully with these government agencies. Environment and Climate Change Canada also has opened an investigation that is in a preliminary stage. At this stage, we cannot predict the outcome of these investigations, and we cannot provide assurance that they will not have a material adverse effect on us."
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NLS PTON | Hot Stocks12:10 EST Nautilus spikes almost 30% after announcing new $70M credit facility - Nautilus (NLS) announced the closing of a new five-year $70,000,000 Senior Secured Credit Facility, on Tuesday evening, consisting of a new $55,000,000 asset-based revolver and a $15,000,000 term loan with Wells Fargo Bank. Nautilus will use proceeds from the Credit Facility to refinance the existing $40,000,000 asset-based facility, pay transaction expenses, and for general corporate purposes. Jim Barr, Chief Executive Officer, stated "Our new Credit Facility provides us with additional financial flexibility to capitalize on the strength of our brand portfolio and position us for sustainable profitable growth as a global technology-driven fitness company. Investing in our strategic initiatives, digital platform, connected fitness products, go-to-market capabilities and other market opportunities, will enable us to deliver new and exciting solutions for our customers wherever they are in their fitness journey." Shares of Nautilus are up 73c per share or 29% to $3.47 per share in midday trading, while shares of competitor Peloton (PTON) are falling 3% to $32.47 per share.
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PRPL CSPR | Hot Stocks12:04 EST Purple Innovation down 4% after rival Casper's IPO price range cut - Shares of Purple Innovation (PRPL) are down 4.2% to $13.09 near midday after the initial public offering for rival mattress maker Casper Sleep (CSPR) had its price range lowered to $12.00-$13.00 per share from $17.00-$19.00 per share. The deal size of 8.35M shares of common stock was maintained. The initial public offering for Casper is expected to price tonight. Casper Sleep had been valued at just over $1B in the private market, but now looks like it might lose its $1B "unicorn" status upon coming public.
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BOOT | Hot Stocks12:01 EST Boot Barn falls -11.8% - Boot Barn is down -11.8%, or -$5.00 to $37.27.
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KN | Hot Stocks12:01 EST Knowles falls -20.3% - Knowles is down -20.3%, or -$4.13 to $16.22.
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PLT | Hot Stocks12:01 EST Plantronics falls -37.5% - Plantronics is down -37.5%, or -$10.09 to $16.79.
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BTU | Hot Stocks12:00 EST Peabody Energy rises 23.3% - Peabody Energy is up 23.3%, or $1.73 to $9.14.
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NLS | Hot Stocks12:00 EST Nautilus rises 28.1% - Nautilus is up 28.1%, or 76c to $3.46.
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GHL | Hot Stocks12:00 EST Greenhill & Co. rises 28.7% - Greenhill & Co. is up 28.7%, or $4.77 to $21.41.
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RGR... | Hot Stocks11:51 EST FBI reports 2.7M NICS firearm background checks in January - The FBI reported that there were 2,702,702 firearm background checks initiated through the NICS system in January 2020. This compares to 2,165,094 checks in January of 2019 and 2,936,894 in December 2019. Companies in the gun space include Sturm, Ruger (RGR), American Outdoor Brands (AOBC), and Vista Outdoor (VSTO). Reference Link
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MSFT | Hot Stocks11:21 EST Microsoft's LinkedIn says Ryan Roslansky to succeed Jeff Weiner as CEO - Microsoft's LinkedIn announced that after 11 years as LinkedIn's CEO, Jeff Weiner has decided to take on a new role as LinkedIn's Executive Chairman. Ryan Roslansky, currently its Senior Vice President of Product, will become CEO of LinkedIn effective June 1, 2020. As CEO of LinkedIn, Ryan will report directly to Satya Nadella and join Microsoft's senior leadership team, just as Jeff did. "These changes will enable LinkedIn to continue to focus on realizing our vision and mission of connecting the world's professionals to make them more productive and successful," LinkedIn said in a statement. Reference Link
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CSCO | Hot Stocks11:08 EST Armis reports five 'critical, zero-day vulnerabilities' found in Cisco protocol - In a post to its corporate blog, security firm Armis states: "Armis has discovered five critical, zero-day vulnerabilities in various implementations of the Cisco Discovery Protocol - CDP- that can allow remote attackers to completely take over devices without any user interaction. CDP is a Cisco proprietary Layer 2 - Data Link Layer - network protocol that is used to discover information about locally attached Cisco equipment. CDP is implemented in virtually all Cisco products including switches, routers, IP phones and cameras. All those devices ship from the factory with CDP enabled by default. The CERT Coordination Center has also issued an advisory...Armis has disclosed the vulnerabilities to Cisco on August 29, 2019 and has worked with them since to develop and test mitigations and patches." Reference Link
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UAL | Hot Stocks11:03 EST United Airlines announces purchase agreement for flight training academy - United Airlines announced that it will "further expanded its innovative Aviate pilot program by signing a purchase agreement to become the only major U.S. carrier to own a flight training academy." The flight training academy - currently operating as Westwind School of Aeronautics in Phoenix, Arizona - will be an extension of the airline's Aviate program, a pilot development and recruitment program that "offers aspiring aviators the most direct path to achieve their dreams of becoming a United pilot," the company stated. The airline anticipates hiring more than 10,000 pilots by 2029. United expects approximately 300 students to graduate from the United Aviate Academy in its first full year of operation.
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INST | Hot Stocks11:00 EST Instructure discloses $54-$57 per share expression of interest in proxy filing - In a regulatory filing before the market open, Instructure disclosed: ""On October 31, 2019, Industry Participant H entered into a confidentiality agreement with Instructure. Later that day, (i) Sponsor B and Sponsor D informed representatives of Instructure that they had determined not to submit a written proposal, (ii) Thoma Bravo submitted a written proposal to acquire Instructure for $50.00 per share, (iii) Sponsor E submitted a written proposal to acquire Instructure in the range of $48.00 to $51.50 per share, (iv) Sponsor C submitted a written proposal to acquire Instructure in the range of $49.00 to $51.00 per share, (v) Sponsor A submitted a written proposal to acquire Instructure in the range of $45.00 to $47.00 per share, and (vi) representatives of an investment bank engaged by Industry Participant H verbally communicated to representatives of J.P. Morgan that Industry Participant H may be interested in a potential transaction in the range of $54.00 to $57.00 per share (subject to further internal approvals of Industry Participant H), but thereafter Industry Participant H never submitted a formal proposal." As previously reported on December 4, 2019, Instructure has agreed to be acquired by Thoma Bravo in an all-cash transaction that values Instructure at an aggregate equity value of approximately $2B, or $47.60 in cash per share.
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ZNGA | Hot Stocks10:20 EST Zynga cancels from Deutsche Bank Media, Internet & Telecom Conference - According to a post to Deutsche Bank's conferences and events site, Zynga cancelled from the firm's Media, Internet & Telecom Conference on February 4. The event is scheduled to be held from Monday, March 9 to Wednesday, March 11. The Fly has reached out to Zynga investor relations for comment on the reason for the conference cancellation. Reference Link
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HON | Hot Stocks10:17 EST Honeywell forecasts 4,100 new civil helicopter deliveries over next five years - In its 22nd annual "Turbine-Powered Civil Helicopter Purchase Outlook," Honeywell forecasts 4,100 new civilian-use helicopters will be delivered from 2020 to 2024, marginally higher than the five-year forecast from 2019. While deliveries are expected to be higher than 2019, purchase plans are lower, but only by less than a percentage point. "This year, we anticipate higher deliveries due to entry into service of new helicopter platforms," said Heath Patrick, president, Americas Aftermarket, Honeywell Aerospace. "Despite the slight dip in purchase plans, we see several bright spots, including higher utilization rates. This means operators plan to use their aircraft more frequently over the next 12 months. Honeywell is prepared for this upswing and is committed to providing seamless global customer support, while also maintaining our focus on bringing new, innovative products to the helicopter market." Key survey findings this year include: Purchase plans are significantly stronger from the corporate/VIP segment in this year's survey, but lower from law enforcement and oil and gas operators. A greater proportion of planned new helicopter purchases is for light twin-engine models in this year's survey compared with 2019. The proportion is lower for light single-engine models. Overall, 56% of planned purchases are for twin-engine models, 8 percentage points higher than last year. In North America, average utilization was higher by about 12% in 2019 compared with 2018. About 19% of survey respondents said their helicopter fleet utilization is expected to increase over the next 12 months.
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WBA | Hot Stocks10:16 EST Walgreens Boots Alliance names Richard Ashworth president of Walgreens - Walgreens Boots Alliance announced the appointment of Richard Ashworth as President of Walgreens. Ashworth will be responsible for developing the strategies and plans for all Walgreens operations and will have full responsibility for the leadership, development and management of the business. He will report to Alex Gourlay, Co-COO, Walgreens Boots Alliance. Previously, Ashworth served as President of Operations, Walgreens, and has held a variety of leadership positions with increasing responsibility overseeing pharmacy, health care commercial, retail and other segments during his 28-year tenure with the company.
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GM | Hot Stocks10:15 EST GM CEO says to hold talks with CA, federal government to speed EV adoption - Comments taken from GM's Capital Markets Day.
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USNA | Hot Stocks10:00 EST Usana rises 15.9% - Usana is up 15.9%, or $10.48 to $76.41.
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COTY | Hot Stocks10:00 EST Coty rises 17.4% - Coty is up 17.4%, or $1.85 to $12.49.
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MOD | Hot Stocks10:00 EST Modine Manufacturing rises 25.2% - Modine Manufacturing is up 25.2%, or $1.97 to $9.80.
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ICE | Hot Stocks09:23 EST IntercontinentalExchange to acquire Bridge2 Solutions, terms not disclosed - Intercontinental Exchange announced that it has agreed to acquire Bridge2 Solutions, a leading provider of loyalty solutions for merchants and consumers. Following the completion of the transaction, Bakkt, a majority-owned subsidiary of ICE, intends to acquire Bridge2 Solutions from ICE using proceeds from Bakkt's Series B round of funding, which is expected to close later this quarter. The terms of ICE's acquisition of Bridge2 Solutions, the closing of which is contingent on completion of Hart-Scott-Rodino review, were not disclosed. Additionally, the acquisition will not have a material impact on net income and is not expected to impact ICE's capital return plans.
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ICE | Hot Stocks09:22 EST IntercontinentalExchange to acquire Bridge2 Solutions, terms not disclosed
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TROW | Hot Stocks09:19 EST T. Rowe Price says head of International Equity, Chris Alderson, to retire - T. Rowe Price Group announced that Chris Alderson, head of International Equity, co-head of Global Equity, and a member of the Management Committee, will step down from his roles and retire from the company at the end of the year. Alderson joined the firm in 1988. Justin Thomson, chief investment officer, International Equity, and lead portfolio manager of the International Small-Cap Equity Strategy, including the International Discovery Fund, will succeed Alderson as head of International Equity on January 1, 2021. At that time, Thomson will join the Management Committee. He will report to Robert Sharps, head of Investments. The firm also announced that effective March 1, Ben Griffiths will become co-portfolio manager of the International Small-Cap Equity Strategy, joining Thomson until Thomson relinquishes his portfolio manager responsibilities following a thoughtful transition period.
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USNA | Hot Stocks09:12 EST Usana increases share repurchase authorization to $130M - Usana Health Sciences announced that the company's board has authorized up to $130M in share repurchase authorization, which is inclusive of the $30M remaining under the share repurchase authorization as of December 28, 2019.
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CETX | Hot Stocks09:12 EST Cemtrex develops VR training application for Cartier - Cemtrex announced it has developed for its customer, luxury retailer Cartier, a fully immersive virtual reality training application. The application is designed to train new and existing retail employees on how to manage complex and potentially unsafe situations in Cartier's retail locations.
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SGMS | Hot Stocks09:11 EST Scientific Games selected by Betfred for sports betting solutions - +Scientific Games and Betfred are partnering to provide full retail and digital sports betting solutions in Pennsylvania. Betfred have chosen Scientific Games as their technology provider to launch retail solutions at Wind Creek Casino in Bethlehem, Pennsylvania in the first half of 2020 as part of Betfred's recently announced partnership with the property. In advance of the 2020-2021 NFL season, Betfred and Scientific Games plan to launch digital sports betting for Pennsylvania bettors.
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CTO | Hot Stocks09:11 EST Consolidated-Tomoka announces closing of exchange agreements - Consolidated-Tomoka Land announced that it has closed privately negotiated exchange agreements with certain holders of its outstanding 4.50% Convertible Senior Notes due 2020 pursuant to which the Company will issue $57.4 million principal amount of 3.875% Convertible Senior Notes due 2025 in exchange for $57.4 million principal amount of the 2020 Notes. In addition, the Company closed a privately negotiated purchase agreement with an investor and issued approximately $17.6 million principal amount of the New Notes. The Company used approximately $5.9 million of the proceeds from the Private Placement to repurchase approximately $5.9 million of the 2020 Notes. As a result of the Transactions there is a total of $75 million of outstanding New Notes. In exchange for issuing the New Notes pursuant to the Private Exchanges, the Company received and cancelled the exchanged 2020 Notes. The $11.7 million of net proceeds from the Private Placement will be used to redeem at maturity on March 15, 2020 approximately $11.7 million of the aggregate principal amount of the 2020 Notes that remain outstanding. The New Notes represent senior unsecured obligations of the Company and pay interest semi-annually in arrears on each April 15th and October 15th, commencing on April 15, 2020, at a rate of 3.875% per annum. The New Notes mature on April 15, 2025 and may not be redeemed by the Company prior to the maturity date. The conversion rate for the New Notes is initially 12.7910 shares of the Company's common stock per $1,000 of principal of the New Notes. The initial conversion price of the New Notes represents a premium of approximately 20% to the $65.15 closing sale price of the Company's common stock on the NYSE American on January 29, 2020. The New Notes are convertible into cash, common stock or a combination thereof, subject to various conditions, at the Company's option. Should certain corporate transactions or events occur prior to the stated maturity date, the Company will increase the conversion rate for a holder that elects to convert its New Notes in connection with such corporate transaction or event.
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AMZN UTX | Hot Stocks09:07 EST Amazon announces Carrier chooses AWS as preferred cloud provider - Amazon Web Services, or AWS, an Amazon (AMZN) company, announced that Carrier has chosen AWS as its preferred cloud provider. Carrier is moving up to 70% of its 4,000 servers and 996 applications away from legacy servers and databases to AWS, reducing IT infrastructure costs while also positioning the company to innovate and deliver more products and services to its customers around the world. In addition, Carrier will use AWS data warehouse, analytics, and machine learning, or ML, services to identify efficiencies in its manufacturing processes and supply chains, and AWS Internet of Things services to underpin a new line of networked products and services for the home, workplace, and refrigerated logistics chain. Carrier, part of United Technologies (UTX), expects to become a standalone public company in the first half of 2020 and plans to leverage AWS to drive its digital transformation and lead the next era of growth and expansion in the industry. Carrier plans to build its data lake on Amazon S3 and use AWS ML services to query and gain insights from real-time and historical data recorded across its manufacturing and supply chain lines. The gains in forecasting and efficiency derived from those insights will enable Carrier to more quickly develop new offerings and bring innovations to its customers. In addition, Carrier will use AWS's IoT services, such as AWS IoT Core, IoT Analytics, and IoT Events, to connect its products into intelligent systems, and AWS's ML and artificial intelligence services to allow those systems to learn from users' habits and adjust automatically to improve efficiency without sacrificing performance.
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CMTL | Hot Stocks09:07 EST Comtech receives $6.6M Next Generation 9-1-1 system for state in New England - Comtech Telecommunications announced, that during its Q2, its subsidiary, Comtech Solacom Technologies, which is part of Comtech's Commercial Solutions segment, has signed an agreement worth $6.6M, to upgrade a statewide Next Generation 9-1-1 system, for a New England state. The contract includes the upgrade of many core elements of the Emergency Services IP network and the 9-1-1 call-handling equipment.
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PS | Hot Stocks09:04 EST Pluralsight appoints Angela Han as CCO - Pluralsight has appointed Angela Han as the company's first Chief Customer Officer. As Chief Customer Officer, Han will be responsible for expanding the global post-sale function for Pluralsight, including customer success, customer support, and services to meet the growing demand of Pluralsight customers who want to ensure their technologists have the necessary skills to meet their technology goals. Han will report to Chief Revenue Officer Ross Meyercord. She will build the global team, processes, and systems to advance the success of Pluralsight's customers who are already seeing the impact Pluralsight is having on their businesses. With Han's appointment, Pluralsight is ensuring its customers maximise the value of Pluralsight by investing in its customer success and services team to deepen its support of customers in achieving their technology goals and provide the fastest path to technology skills development. Han joins Pluralsight from her most recent position as Chief Customer Officer for PlayerLync.
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TSLA... | Hot Stocks08:59 EST Fly Intel: Pre-market Movers - UP AFTER EARNINGS: General Motors (GM), up 2%... Chipotle Mexican Grill (CMG), up 2%... Humana (HUM), up 1%. ALSO HIGHER: VIVUS (VVUS), up 27% after announcing that the FDA has approved the supplemental new drug application for an improved formulation of Pancreaze delayed release capsules that extends the shelf life to 36 months across all Pancreaze dosages... Oasis Petroleum (OAS), up 5% after Bloomberg reports Oasis Midstream Partners (OMP), which is controlled by the company, is looking into a sale. DOWN AFTER EARNINGS: Merck (MRK), down 3%... Spotify (SPOT), down 4%... Ford (F), down 8%... Snap (SNAP), down 7%... Poly (PLT), down 30%. ALSO LOWER: Tesla (TSLA), down 3% after CNBC reports a Tesla executive said that cars initially scheduled for delivery in China in early February will be delayed due to the outbreak of the new coronavirus. In addition, Canaccord Genuity analyst Jed Dorsheimer downgraded Tesla to Hold from Buy with an unchanged price target of $750.
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GM | Hot Stocks08:51 EST GM sees achieving $4B-$4.5B in transformational cost savings by YE2020 - Comments from slides being presented on the Q4 earnings conference call.
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NEOG | Hot Stocks08:47 EST Neogen partners with ripe.io to bring blockchain to food safety and animal geno - Neogen has entered into a partnership with food industry blockchain pioneer Ripe Technology - ripe.io - to adapt blockchain technology for use with Neogen's food safety diagnostics and animal genomics. In the food and livestock industries, blockchain could be used to create the history of products and animals as they go through their entire production cycles. The blockchain technology will be initially separate from Neogen's recently announced Neogen Analytics platform; however, when fully integrated, the company believes the two technologies can form the basis for advanced data-driven decisions for its customers.
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ABBV | Hot Stocks08:47 EST AbbVie says RINVOQ meets primary, key secondary endpoints in Phase 3 study - AbbVie announced positive top-line results from the Phase 3 SELECT-PsA 1 clinical trial. In this study, both doses of RINVOQ met the primary endpoint of ACR20 response at week 12 versus placebo in adult patients with active psoriatic arthritis who have responded inadequately or are intolerant to one or more non-biologic disease modifying anti-rheumatic drugs. RINVOQ also demonstrated significant improvements in signs and symptoms of the disease across a variety of endpoints compared to placebo. RINVOQ, a selective and reversible JAK inhibitor discovered and developed by AbbVie, is being studied as a once-daily therapy in psoriatic arthritis and multiple immune-mediated inflammatory diseases.
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SR | Hot Stocks08:43 EST Spire affirms annual long-term NEE per share growth target of 4%-7% - The long-term target reflects the expectation of continued consistent growth of gas utilities driven by organic growth initiatives as well as capital investment focused on infrastructure upgrades, technology and new business. Also expects growing contributions from expansion of Spire Marketing and commercial operation of Spire STL Pipeline. Reaffirms 5-year CapEx view through FY23 of $3.0B
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ISR | Hot Stocks08:41 EST IsoRay collaborates with MIM Software for head, neck cancer treatment - Isoray announced an executed agreement with MIM Software to deliver a novel one-stop-provides-all program to treat head and neck cancer. The new offering bundles MIM's software technology and Isoray's industry leading Cesium Blu, also known as Cesium-131, brachytherapy expanding treatment options and access for physicians and patients. Cesium Blu brachytherapy delivers a highly targeted treatment to the site of the disease, preserving healthy tissue and organs. Bringing together Isoray's Cesium Blu brachytherapy seeds in mesh with MIM Software's powerful brachytherapy treatment planning software provides physicians with all the anatomical information they need to effectively place the Cesium Blu seeds exactly where they are needed to treat the patient's cancer. Available now, the inclusive offering streamlines adoption of both the Cesium Blu brachytherapy treatment and MIM's planning software to deliver an economically feasible option for facilities and physicians treating head and neck cancers.
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ATRA AMGN | Hot Stocks08:39 EST Atara Biotherapeutics appoints Kristin Yarema as CCO - Atara Biotherapeutics (ATRA) named Kristin Yarema as chief commercial officer, effective as of February 18, 2020. She comes to Atara after most recently serving as Amgen's (AMGN) Vice President & Therapeutic Area Head for Global Product Strategy & Commercial Innovation in Hematology and Oncology.
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MNLO | Hot Stocks08:38 EST Menlo Therapeutics announces publication of Phase 2 results for serlopitant - Menlo Therapeutics announced the publication of the company's Phase 2 trial of serlopitant for the treatment of pruritus associated with psoriasis in the Journal of the American Academy of Dermatology. The trial results were published in the February 3, 2020, online JAAD and demonstrate that serlopitant significantly reduced pruritus in patients with psoriasis and was well-tolerated. The trial successfully met its primary endpoint, showing a statistically significant reduction in pruritus compared to placebo at week 8 based upon a 4-point improvement responder analysis. The trial results were previously presented at the European Academy of Dermatology and Venereology Meeting last year. In this randomized, double-blind, placebo-controlled study, 204 patients with psoriasis received 5 mg serlopitant or placebo orally once daily for 8 weeks. For the primary endpoint assessment, pruritus scores were measured using the worst-itch numeric responder scale. The study met its primary endpoint, with 33.3% of patients treated with serlopitant achieving a 4-point improvement from baseline on the WI-NRS at week 8 compared with 21.1% of placebo recipients. In addition, the study met a key secondary endpoint, with 20.8% of patients treated with serlopitant achieving a 4-point improvement from baseline on the WI-NRS at week 4 vs 11.5% of placebo recipients. Other key secondary endpoints were the mean absolute change in WI-NRS from baseline to day 3 and day 7, which were numerically greater for serlopitant than placebo at both day 3 and day 7. At every assessed time point in the trial, the serlopitant treated group demonstrated greater numerical improvement than the placebo group in both the WI-NRS 4-point responder analysis and in the mean change in WI-NRS from baseline.
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NEWT | Hot Stocks08:37 EST Newtek Business Services declares quarterly dividend of 44c per share - Newtek Business Services announced that its Board of Directors declared its first quarter 2020 cash dividend of 44c per share, which represents a 10% increase over the first quarter 2019 cash dividend of 40c per share. The first quarter 2020 dividend is payable on March 31, 2020 to shareholders of record as of March 18, 2020. The Company also reiterated its 2020 annual cash dividend forecast of $2.191 per share.
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ICE | Hot Stocks08:35 EST IntercontinentalExchange reports January average daily volume up 27% y/y - ntercontinental Exchange reported January trading volume and related revenue statistics, stating that average daily volume was up 27% year-over-year and open interest was up 11% year-over-year. Other highlights include: Record total energy ADV up 29% y/y; record energy futures OI of 29.9M lots reached on January 30, 2020; total energy OI up 12% y/y; Record oil ADV up 41% y/y; record oil futures OI of 8.7M lots reached on January 30, 2020; total oil OI up 9% y/y; Brent ADV up 25% y/y; OI up 10% y/y; Record gasoil ADV up 52% y/y.
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POAI | Hot Stocks08:35 EST Predictive Oncology launches specialty media for growing ovarian tumor cells - TumorGenesis, Inc. a subsidiary of Predictive Oncology, has selected US Biological Corporation of Salem, Massachusetts as the manufacturer and distributor of its innovative culture media for growing ovarian tumor cells. Unlike traditional cell culture media, which select for one or two fast growing cell types, TumorGenesis media are specially formulated to help researchers isolate and maintain the unique histological and basic biological signatures of heterogeneous ovarian cell types while growing them in the laboratory.
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PPG | Hot Stocks08:33 EST PPG to acquire Alpha Coating Technologies, terms undisclosed - PPG announced that it has reached a definitive agreement to acquire Alpha Coating Technologies, a manufacturer of powder coatings for light industrial applications and heat sensitive substrates. The transaction is expected to close in Q1, subject to customary closing conditions. Financial terms were not disclosed. Founded in 2000, Alpha focuses on the development, manufacture and sale of powder coatings for light industrial applications; medium density fiberboard and heat sensitive substrates and toll manufactures powder coatings for metal and light industrial applications. Alpha employs approximately 35 people at its operations in West Chicago, Illinois.
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TLGT | Hot Stocks08:32 EST Teligent president, CEO Jason Grenfell-Gardner to step down - Teligent announced a transition in leadership. Teligent has announced that Jason Grenfell-Gardner will be stepping down immediately as President, CEO and member of the Board of Directors. Mr. Grenfell-Gardner and the Board of Directors have mutually agreed that now is the right time to transition the leadership of the Company. The Company thanks Mr. Grenfell-Gardner for service over the past seven and a half years and wishes him success in his future endeavors. The Company further announced that Tim Sawyer has joined as CEO and President of the Company, effective immediately. Sawyer spent 16 years at Barr Laboratories, where he held several senior executive positions in general management, marketing, and sales. Sawyer will focus on execution toward achieving the Company's mission and goals, including resolve the warning letter from the U.S. Food and Drug Administration dated November 26, 2019; pass a prior approval inspection and launch its first injectable product to be manufactured out of the recently completed expansion of its facility in Buena, NJ; leverage its expanded manufacturing capacity and enhanced quality capabilities; expand its customer base; and accelerate revenue and EBITDA growth. Sawyer will also work to complete the Company's previously announced strategic review of assets non-core to the Company's long-term strategy. In connection with the hiring of Sawyer, in addition to other compensation disclosed in Teligent's Current Report on Form 8-K, Teligent's Board of Directors authorized the grant to Mr. Sawyer of a non-qualified stock option to purchase up to 1,500,000 shares of Teligent's common stock, effective February 4, 2020. The option grant is an inducement material to Mr. Sawyer's entering into employment with Teligent in accordance with Nasdaq Listing Rule 5635(c)(4). The option has a ten-year term and an exercise price of $0.39 per share, the fair market value of Teligent's common stock on the date of grant. The option will vest as follows: one-fourth of the shares shall vest and become exercisable on each of the first, second, third and fourth anniversaries of Mr. Sawyer's first date of employment, subject to Mr. Sawyer's continued employment. The option grant is subject to the terms and conditions of a stock option agreement.
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SPRO | Hot Stocks08:29 EST Spero Therapeutics announces exercise of $15.9M option by BARDA - Spero Therapeutics announced that the Biomedical Advanced Research and Development Authority has exercised its first contract option for additional committed funding pursuant to its existing contract with Spero. Specifically, the option exercise provides Spero with $15.9M in reimbursement for the further development of tebipenem HBr. Spero's lead product candidate, tebipenem HBr, is an oral carbapenem currently being evaluated in a pivotal Phase 3 clinical trial for the treatment of complicated urinary tract infections, with top-line data expected in the third quarter of 2020. The option was exercised under Spero's existing 2018 contract with BARDA, which provides for reimbursement to Spero of up to $46.8M for qualified expenses for tebipenem HBr development over a five-year period. Total committed funding under the BARDA award to date is $34M, inclusive of this first contract option being exercised. There is a second option exercisable by BARDA for the remaining $12.7M of funding, subject to specified milestones being achieved under the award agreement. Furthermore, the Defense Threat Reduction Agency provides up to $10M, in addition to the total potential award from BARDA, to cover the cost of the nonclinical biodefense aspects of the collaboration program for tebipenem HBr. Together, the two agencies will provide up to $56.8M in total funding for the clinical development and biodefense assessment of tebipenem HBr, a portion of which is subject to the exercise of options by BARDA and Spero's achievement of specified milestones. The $15.9M contract option exercise announced today is expected to support the funding of specified manufacturing activities required for approval of tebipenem HBr, including API validation batch manufacturing and stability studies. Additionally, the option is expected to support the funding of several non-clinical and clinical development activities relating to tebipenem HBr, including a Phase 1 bronchoalveolar lavage study in healthy subjects to assess lung exposure of tebipenem HBr, an important assessment to support a biodefense indication as well as evaluation in lung infections. Tebipenem HBr has demonstrated preclinical activity in murine lung models of Gram-negative bacterial infections and its active pharmaceutical ingredient is also currently approved in Japan for the treatment of pediatric pneumonia. As a result of this option exercise, and together with support from DTRA, Spero intends to progress tebipenem HBr into non-human primate efficacy studies in one or more models of biothreat disease. Spero anticipates initiating a Phase 1 BAL clinical trial of tebipenem HBr in healthy subjects in the third quarter of 2020.
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CEI | Hot Stocks08:27 EST Camber Energy contributes $5M to Viking acquisition, executes merger agreement - Camber Energy and Viking Energy Group announced that Camber provided financing of $5M toward the recent acquisition by Viking of additional oil and gas properties in Texas and Louisiana and that the parties have entered into a definitive Agreement and Plan of Merger dated as of February 3, 2020, regarding Camber's proposed acquisition of Viking. The proposed merger contemplates Camber issuing newly-issued shares of common stock, on a fully-diluted pro rata basis, to the equity holders of Viking having an 80% interest in the post-closing entity, not including certain shares available to be issued to Camber's Series C Preferred Stock holder post-merger, in exchange for 100% of the outstanding equity securities of Viking by means of a reverse triangular merger in which a newly formed wholly-owned subsidiary of Camber shall merge with and into Viking, with Viking continuing as the surviving corporation and wholly-owned subsidiary of Camber after the Merger. If the closing of the Merger occurs, the Viking equity holders prior to the Merger shall own approximately 80% of Camber's issued and outstanding common stock immediately after the Merger, and the Camber equity holders prior to the Merger shall own approximately 20% of Camber's issued and outstanding common stock immediately after the Merger, subject to adjustment mechanisms set out in the Merger Agreement, and in each case on a fully-diluted, as-converted basis as of immediately prior to the Closing, and without taking into account any shares of common stock which the holder of Camber's Series C Preferred Stock can receive upon conversion of the Series C Preferred Stock, or a separate series of preferred stock issued in exchange for such Series C Preferred Stock, which has fixed conversion provisions. Camber plans to increase its authorized number of shares to complete the issuance of shares in the Merger set forth above at the same time it seeks shareholder approval for the Merger. Holders of Viking Common Stock will have any fractional shares of Camber common stock after the Merger rounded up to the nearest whole share. Completion of the Merger is subject to a number of conditions, as set out in the Merger Agreement, including but not limited to receipt of all required regulatory, corporate and third-party approvals, including the approval of the stockholders of each of Viking and Camber and the fulfillment of all applicable regulatory requirements and conditions necessary to complete the Merger. Required conditions to the entry into the Merger included: Camber providing financing in the form of a $5M loan to Viking pursuant to the terms of a Securities Purchase Agreement, Secured Promissory Note and a Security and Pledge Agreement; and Viking assigning to Camber a 25% interest in its subsidiary, Elysium Energy Holdings, each of which has been completed to date. Upon Closing of the Merger, the loan will be forgiven and the merged entity will own 100% of Elysium. If the Merger does not close, the loan must be repaid in accordance with the terms of the Merger Agreement. All or a portion of the Elysium interests assigned to Camber will be retained by Camber and/or returned to Viking under different circumstances relating to the termination of the Merger Agreement and repayment obligations associated with the Secured Promissory Note. Viking also agreed to pay an additional amount to Camber upon termination of the Merger Agreement sufficient, together with the amounts repaid under the loan, for Camber to redeem certain shares of Series C Preferred Stock sold by Camber on February 3, 2020. The Merger Agreement provides, among other things, on Closing the board of directors of Camber will be comprised of five directors, of which one will be a former member of the board of directors of Camber and four will be former members of the board of directors of Viking, and that James A. Doris, the Chief Executive Officer of Viking, shall serve as President and Chief Executive Officer of Camber.
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WTER | Hot Stocks08:22 EST Alkaline Water announces termination of proposed acquisition of AQUAhydrate - The Company announced that it has terminated its proposed acquisition of AQUAhydrate, Inc. Under the terms of the previously announced acquisition, either party had the right to terminate the agreement if the acquisition was not consummated on or before January 31, 2020. "The termination of the transaction with AQUAhydrate allows us to focus all of our attention and resources on the core strategy of growing our flagship Alkaline88 brand and our A88CBD brand. We view the launch of our portfolio of CBD infused topical products as a massive opportunity for the Company, and we can now fully focus on pursuing the growth of Alkaline88, A88 Infused Flavors, and A88CBD," remarked Richard Wright, the Company's President and CEO.
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WTER | Hot Stocks08:21 EST Alkaline Water launches e-commerce platform to begin selling CBD topicals - The Alkaline Water Company announced its partnership with Youtech & Associates to develop and launch A88CBD.com, an end-to-end E-Commerce website that will immediately offer the Company's suite of CBD infused topical products for sale to consumers. The expected launch date of the E-Commerce website will be February 20, 2020. To develop and launch A88CBD.com, the Company has partnered with ntegrated marketing and development agency, Youtech. Under the agreement, Youtech will develop a unique E-Commerce strategy for A88CBD.com to support its launch through SEO optimization, social media promotions, and influencer marketing. This agreement will allow the Company to take full advantage of the tremendous opportunity E-Commerce presents for its growing line of CBD infused products.
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MRK | Hot Stocks08:20 EST Merck says revenue growth potential 'underappreciated'
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TYME | Hot Stocks08:19 EST Tyme Technologies expects to publish SM-88 Phase II study in 2H20 - Second half of calendar 2020: Publish SM-88 Phase II prostate study; Advance SM-88 clinical programs into other tumor types potentially including metastatic breast, recurrent prostate and/or hematological cancers; Advance PanCAN's Precision PromiseSM adaptive Phase II/III trial evaluating SM-88 in patients with first-line pancreatic cancer in combination with gemcitabine and Abraxane; Present and/or publish final data from Part 1 of TYME-88-Panc study; Complete enrollment in TYME-88-Panc pivotal study; Advance plans for TYME-18 IND program.
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MRK | Hot Stocks08:19 EST Merck sees 'meaningful' operating margin expansion over time
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M | Hot Stocks08:19 EST Macy's sees Polaris strategy to generate $1.5B in annual savings - Beginning in 2020, the company expects the Polaris strategy to generate annual gross savings of approximately $1.5 billion, which will be fully realized by year-end 2022. For 2020, the company anticipates gross savings of approximately $600 million, some of which will flow to the bottom line in order to stabilize operating margin. The company expects to invest some savings back into the business, with a focus on the Growth treatment, Backstage, off-mall expansion and continued improvements to the digital business, as well as technology investment focused on analytics and automation that will drive further productivity improvements. The company currently anticipates total costs related to Polaris of approximately $450 million to $490 million, the majority of which will be recorded in 2019. Approximately $270 million to $290 million of these costs will be cash.
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TYME | Hot Stocks08:18 EST Tyme Technologies expects to present preclinical data for SM-88 in 1H20 - First half of calendar 2020: Present preclinical data for SM-88; Advance enrollment in TYME-88-Panc pivotal study and the HopES Phase II Trial; Initiate enrollment in PanCAN's Precision PromiseSM adaptive randomized Phase II/III registration-intent trial in patients with pancreatic cancer using oral SM-88 in second-line monotherapy; Present preclinical data for TYME-18; Present preliminary Health Economic Outcomes study on total cost of care for pancreatic cancer patients.
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TYME | Hot Stocks08:17 EST Tyme Technologies sees 2020 average quarterly cash usage $5M-$6M - As of the third quarter ended December 31, 2019, the Company had approximately $11.5 million in cash and cash equivalents compared to $15.3M as of the second quarter ended September 30, 2019. On January 7, 2020, TYME received an additional $20M from the sale and issuance of 10,000,000 shares of common stock of the Company to Eagle Pharmaceuticals in a private placement, which resulted in TYME having cash and cash equivalents of $31.5 million. TYME's operational cash burn rate for the third quarter of fiscal year 2020 was $4.5M compared to $4.2M for the second quarter of fiscal year 2020 and $5.3M for the third quarter of fiscal 2019. The burn rate which was generally consistent with our previous projections and predominantly reflected costs associated with our ongoing TYME-88-Panc Phase II trial as well as the launch of the pivotal phase of our TYME-88-Panc trial to evaluate SM-88 as a potential treatment for patients with third-line pancreatic cancer. Based on active clinical trials, the initiation of the Precision PromiseSM trial, and other business developments, TYME continues to anticipate that its quarterly cash usage, or "cash burn rate", will average between $5M to $6M per quarter for fiscal year 2020.
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MRK | Hot Stocks08:17 EST Merck sees completing spinoff in first half of 2021
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TUES | Hot Stocks08:13 EST Tuesday Morning expects FY20 capex $23M-$26M - CEO Steve Becker added, "We continue to experience positive transaction growth entering the Spring season. We are undergoing transformational changes led by our new merchant leadership, involving the entire merchant organization, buying processes and assortment, all of which will enable us to operate as a true off-pricer and will drive our success going forward. As we execute these changes, we are withdrawing our prior guidance. We expect Adjusted EBITDA for the full year to be positive, although down to last fiscal year." The Company plans to open approximately three new stores, relocate six stores, and close 28 stores in fiscal 2020. Capital expenditures for fiscal 2020 are expected to be in the range of approximately $23M to $26M. The increased level of capital spend from prior year reflects the investment in the Company's strategic initiative to retrofit its Dallas distribution center, as well as an increase in investments in information technology, partially offset by fewer relocations and new stores. The Company expects to fund its capital investments primarily through a combination of cash from operations, cash flow generated from a strategic reduction in inventory, the potential sale of certain non-core real estate distribution assets, and if necessary, borrowings on its credit facility.
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MRK | Hot Stocks08:11 EST Merck CEO: Spinoff 'the right thing' for shareholders - Comments taken from Q4 earnings conference call.
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AIMT NSRGY | Hot Stocks08:10 EST Aimmune announces additional $200M equity investment by Nestle Health Science - Aimmune Therapeutics (AIMT) announced that Nestle Health Science (NSRGY) will make an additional equity investment in Aimmune of $200M, bringing Nestle's total investment in Aimmune to date to $473M. The Nestle Health Science investment includes the purchase of 1,000,000 shares of Aimmune common stock and 525,634 shares of convertible preferred stock, convertible on a one-for-ten shares of common stock basis in certain circumstances and subject to certain limitations. The convertible preferred stock has a liquidation preference of $0.0001 per share, does not have any voting rights, and has no stated dividend. In connection with this transaction, certain terms of Aimmune's agreements with Nestle Health Science have been extended by one year until November 11, 2021.
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HTGM | Hot Stocks08:09 EST HTG Molecular announces publication on miRNA Whole Transcriptome Assay - HTG Molecular Diagnostics highlighted the reproducibility of the HTG EdgeSeq miRNA Whole Transcriptome Assay as reported in a peer-reviewed paper in the December 2019 issue of Cell Reports. In a study designed and conducted by Paula M. Godoy et al, four miRNA profiling methods were compared using biofluids with both synthetic and biological micro-RNA samples. The paper, titled "Comparison of Reproducibility, Accuracy, Sensitivity, and Specificity of miRNA Quantification Platforms," concluded that the HTG EdgeSeq platform using the miRNA WTA was the most reproducible and had the least detection bias when compared to the other technologies tested. "Our miRNA WTA product can deliver results in as few as 36 hours and leverages the sensitivity and dynamic range of next generation sequencing (NGS)-based detection while preserving precious sample as it requires no additional concentration steps," said Mike Hrubiak, Vice President of Marketing at HTG. "This is another example of our EdgeSeq platform technology being validated in peer-reviewed prestigious scientific journals."
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AIMT XNCR | Hot Stocks08:09 EST Aimmune obtains license for XmAb7195 from Xencor for $5M in cash, $5M in equity - Aimmune (AIMT) announced it has obtained an exclusive worldwide license to develop and commercialize the investigational humanized monoclonal antibody XmAb7195 from Xencor (XNCR). XmAb7195, which has been renamed AIMab7195, was originally developed by Xencor for the treatment of allergic asthma. It uses three distinct mechanisms of action to reduce blood serum IgE and suppress IgE-producing cells. Aimmune initially plans to develop AIMab7195 as an adjunctive treatment with select characterized oral desensitized immunoTherapy programs, including Palforzia, to explore treatment outcomes in patients with food allergies. Under the terms of the agreement, Aimmune will make an upfront payment to Xencor of $5M in cash and $5M in equity, equivalent to 156,238 newly issued shares of Aimmune common stock at $32.00 per share. Xencor also is eligible to receive up to $385M based on the achievement of certain clinical development, regulatory and commercialization milestones and is eligible to receive a high single-digit to mid-teen percentage of royalties upon commercialization of AIMab7195. Aimmune will be solely responsible for costs related to the development of AIMab7195 and plans to provide a development plan in the coming months.
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GM | Hot Stocks08:08 EST General Motors CEO says 'positioned for strong, long-term business - "We continue to transform this company for the future. GM is positioned for strong, long-term business results with a focus on sustainability, and we are confdent that our EV and AV strategies will drive shareholder value while improving the environment," said Mary Barra, Chairman and CEO of GM.
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XPER TIVO | Hot Stocks08:07 EST Xperi, TiVo announce HSR clearance - Xperi (XPER) and TiVo (TIVO) announced that they have received notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the all-stock merger of equals transaction of Xperi and TiVo. The early termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the transactions contemplated by the previously announced Agreement and Plan of Merger and Reorganization made and entered into as of December 18, 2019, by and among Xperi, TiVo, XRAY-TWOLF Holdco Corporation, XRAY Merger Sub Corporation, and TWOLF Merger Sub Corporation. The consummation of such transactions remains subject to other customary closing conditions set forth in the Merger Agreement, including receipt of the approval of the stockholders of Xperi and TiVo.
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KERN | Hot Stocks08:07 EST PAX Labs implements Akerna's Business Intelligence, API solution - Akerna has completed an agreement with PAX Labs to help the company better understand its customers and derive actionable insights to improve the customer experience. PAX has implemented Akerna's Business Intelligence and API solution which is a new Akerna Infrastructure as a Service tool offering launched in July 2019. Since 2010, Akerna has tracked more than $17B cannabis sales. Using Akerna's Infrastructure as a Service tool, PAX received actionable insights that resulted in PAX entering into new markets.
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MDRX | Hot Stocks08:06 EST Allscripts announces continuation of partnership with Sunnybrook Health - Allscripts announced that Canada's Sunnybrook Health Sciences Centre is continuing its partnership with Allscripts by implementing the iProcedures electronic Anesthesia Information Management Solution, or AIMS. The solution will be used in all operating rooms, labour and delivery and other anesthesia-related areas at Sunnybrook Health Sciences Centre's Bayview and Holland Centre sites.
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BTU | Hot Stocks08:06 EST Peabody Energy sees FY20 CapEx approximately $250M - 2020 expenditures include life extension project capital at the Wilpinjong and Wambo open-cut mines.
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SGBX | Hot Stocks08:05 EST SG Blocks announces 1-for-20 reverse stock split - SG Blocks announced a reverse stock split of its shares of common stock at a ratio of 1-for-20. The reverse stock split will take effect as of 11:01 p.m. Shares of SG Blocks common stock will trade on a post-split basis on Nasdaq under the existing trading symbol at the market open on February 6. During the company's special stockholder meeting held January 15, stockholders approved the company's reverse stock split, and granted the board of directors the authority to implement and determine the exact split ratio, which was set by the board at 1-for-20. Following the reverse stock split, the new CUSIP number will be 78418A505, with the par value per share of common stock remaining at 1c. A proportionate adjustment will be made to the per-share exercise prices and number of shares issuable under all outstanding stock options and warrants. As previously reported, SG Blocks has until June 29 to regain compliance with the Nasdaq's minimum bid price requirement. To regain compliance, SG Block's common stock must have a minimum bid price per share of at least $1.00 for 10 consecutive business days. The reverse stock split is intended to increase the market price per share to help ensure a share price high enough to satisfy the $1.00 minimum bid price requirement by Nasdaq. However, there is no assurance that the reverse stock split will have the desired effect of sufficiently increasing the bid price of SG Block's common stock for the required period. When the reverse stock split becomes effective, every 20 shares of the company's issued and outstanding common stock will be combined into one share of common stock. Effecting the reverse stock split will reduce the number of issued and outstanding common stock from approximately 23.2M shares to approximately 1.16M shares. The reverse stock split will also subsequently adjust outstanding options issued under SG Block's equity incentive plan and outstanding warrants to purchase common stock. No fractional shares will be issued in connection with the reverse stock split. Stockholders of record will receive a cash payment in lieu of fractional shares to which they would otherwise be entitled.
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PWFL | Hot Stocks08:05 EST PowerFleet appoints Elizabeth Elkins as chief product officer - PowerFleet has appointed Elizabeth Elkins as its new chief product officer. Prior to PowerFleet, Elkins served as the global EVP of product management, product development/engineering, quality assurance, corporate PMO and ecommerce at KORE Wireless.
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BTU | Hot Stocks08:05 EST Peabody Energy CEO says targeting improved met coal volumes and costs in 2020 - "During the fourth quarter, Peabody made a number of operational improvements in Australia, reduced costs in four of five operating segments, opportunistically repurchased bonds to reduce debt, generated substantial cash from commercial settlements and progressed the regulatory process for the proposed PRB/Colorado joint venture," said President and CEO Glenn Kellow. "For 2020, we are targeting improved met coal volumes and costs, lower SG&A and reduced North Goonyella holding costs. Those benefits are expected to partly offset current lower pricing in all segments, lower U.S. thermal volumes, and the loss of some $200 million in contributions from the closing of the Kayenta and Millennium Mines."
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CHFS | Hot Stocks08:05 EST CHF Solutions receives CE Mark for Aquadex SmartFlow console - CHF Solutions announced the receipt of a CE Mark for its Aquadex SmartFlow console, its next generation ultrafiltration system. The console is a simple, flexible and smart solution for treatment of patients suffering from fluid overload and will be used in the European Union with adult and pediatric patients who weigh 20kg or more.
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ALEC | Hot Stocks08:04 EST Alector announces FDA Fast Track designation for AL101 - Alector announced that the U.S. Food and Drug Administration has granted Fast Track designation to AL101 for the treatment of patients with progranulin gene mutations causative of frontotemporal dementia. AL101, the company's second product candidate designed to restore progranulin levels in the brain, is currently being evaluated in a Phase 1 trial in healthy volunteers.
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OCX | Hot Stocks08:03 EST OncoCyte closes merger agreement to acquire Insight Genetics - Oncocyte announced that it has closed its previously announced merger agreement with Insight Genetics. The acquisition expands the decision points addressed by Oncocyte's portfolio of tests with the addition of a potentially transformative immuno-oncology diagnostic test and will also add diverse technology and pharma service offerings including targeted therapeutic panels and a pharma trial lab compliant with 21 C.F.R Parts 820 and 11. At closing, Oncocyte delivered $6.4M in cash, which was net of a $0.6M cash holdback, plus 1.9M shares of Oncocyte common stock valued at $5M.
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NERV | Hot Stocks08:02 EST Minerva completes patient enrollment in Phase 3 trial of roluperidone - Minerva Neurosciences announced the completion of patient randomization in the pivotal, Phase 3 multicenter trial of roluperidone, its lead product, for the treatment of negative symptoms in schizophrenia. A total of 515 patients have been randomized in this trial, compared to the original goal of 501 patients. The trial, which is being conducted at clinical sites in the U.S. and Europe, is a randomized, double-blind, parallel-group, placebo-controlled, 12-week study to evaluate the efficacy and safety of 32 milligram and 64 mg doses of roluperidone as measured by the Marder negative symptoms factor score of the Positive and Negative Syndrome Scale, the primary endpoint. Secondary endpoints include the Personal and Social Performance Scale and Clinical Global Impression of Severity. Patients are being randomized 1:1:1 to the 32 mg and 64 mg doses of roluperidone and placebo. The core 12-week double-blind phase of the trial is followed by a 40-week, open-label extension period during which patients on the drug continue receiving their original dose and patients on placebo receive one of the two doses of roluperidone. Top-line results from the 12-week, double-blind portion of the trial are expected in the second quarter of 2020.
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BTU | Hot Stocks08:02 EST Peabody Energy, Elliot enter agreement - Peabody announced that it will appoint several new members to the company's Board of Directors in conjunction with the February Board meeting, including Elliott Management Equity Partner Dave Miller, Elliott Management Portfolio Manager Samantha Algaze and tenured coal industry executive Darren Yeates. Peabody and Elliott have also agreed to add a fourth independent director with extensive mining operations experience, to be jointly identified by Peabody and Elliott. The company will also nominate each of the new directors, along with all current directors, for a full one-year term at the company's upcoming annual meeting of shareholders in May. Peabody and Elliott, the company's largest shareholder, also have entered into a cooperation agreement outlining the relationship between the two companies. Elliott has agreed to certain customary standstill, voting and other provisions.
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GOL | Hot Stocks08:01 EST Gol Linhas reports preliminary January traffic figures - GOL Linhas' total supply - ASK - in January was flat in relation to January 2019. Total seats increased by 4.7% and the number of departures increased by 5.8%. GOL's total demand - RPK - increased by 0.4% compared to January 2019 and the load factor was 83.9%, an increase of 0.4 p.p. GOL's domestic supply - ASK - increased 0.2% and demand -. increased by 1.1%. GOL's domestic load factor was 85.4%, a 0.8 p.p. increase in comparison to January 2019. The volume of departures increased by 5.5% and seats increased by 4.3% over January 2019. GOL's international supply and demand decreased by 1.3% and 3.7% respectively, and international load factor was 75.4%, a decrease of 1.9 p.p. in relation to January 2019.
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YUMC | Hot Stocks07:59 EST Yum China launches family care program for restaurant management team - Yum China launched a family care program, by establishing the "Restaurant Management Team Family Care Fund". The program is designed to provide additional health protection for family members of restaurant management employees. The new scheme will start in July 2020 and cover an estimated 86,000 parents, spouses and children of more than 31,000 RMT employees. On top of the existing commercial insurance, RMT members will be entitled to additional coverage for critical illness for their parents as well as additional accident coverage for their children and spouse. The scheme also offers express medical treatment for their parents in selected hospitals.
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CFMS | Hot Stocks07:47 EST Conformis appoints Bob Howe as CFO - Conformis announced that the Company has appointed Bob Howe as its new CFO and Gary Maingot as SVP, Operations. Most recently, Howe spent nearly five years at NxStage Medical, Inc., as VP of Finance and Corporate Controller. Immediately prior to joining Conformis, Maingot served at Spinal Elements, Inc. for three years as EVP, Operations.
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VVUS | Hot Stocks07:43 EST VIVUS receives FDA approval for sNDA for improved formulation of PANCREAZE - VIVUS announced that the U.S. Food and Drug Administration has approved the supplemental New Drug Application for an improved formulation of PANCREAZE Delayed Release Capsules that extends the shelf life to 36 months across all PANCREAZE dosages. VIVUS worked closely with Nordmark Arzneimittel GmbH & Co. KG, its manufacturing partner for PANCREAZE, on the FDA approval pursuant to the terms of the amended contract manufacturing agreement announced in June 2019. PANCREAZE is indicated for the treatment of exocrine pancreatic insufficiency due to cystic fibrosis or other conditions. Approved in 2010, PANCREAZE is a pancreatic enzyme preparation consisting of pancrelipase, an extract derived from porcine pancreatic glands, as well as other enzyme classes, including porcine-derived lipases, proteases and amylases. The pancreatic enzymes in PANCREAZE act like digestive enzymes physiologically secreted by the pancreas.
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CHTR | Hot Stocks07:43 EST Charter shareholder Advance/Newhouse to establish collateralized credit facility - Charter Communications has been notified by Advance/Newhouse Partnership that A/N intends to establish a credit facility collateralized by a portion of A/N's Common Units in Charter Communications Holdings. A/N has also indicated to Charter that A/N remains committed to being a long-term shareholder of Charter and currently has no intent to sell any units/shares other than through its continued pro-rata participation in Charter's buyback program.
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ARAY | Hot Stocks07:39 EST Accuray's TomoTherapy System shows improved efficacy in rectal cancer studies - Accuray announced that two new studies demonstrate the benefits of the TomoTherapy System in the treatment of advanced rectal cancer. Patients enrolled in the two studies received simultaneous daily radiation and a targeted radiation boost over a 25-day time period. The study investigators found that the TomoTherapy platform enabled the delivery of a high dose of radiation, directly to the tumor, through the integrated boost of radiation, while minimizing radiation to organs in close proximity to the targeted tumor. As a result, patients in the studies experienced improved treatment results and reduced side effects. These study outcomes compare favorably to conventional radiotherapy, based on results from other studies.The study published in the Journal of Cancer Research and Clinical Oncology, found treatment with TomoHelical is safe, with low rates of severe toxicity , and radiation delivered with helical TomoTherapy following daily imaging with the platform's integrated imaging capabilities allowed for the reduction of treatment margins around the tumor, so less normal tissue was irradiated. The four-year outcomes showed local tumor control and disease-free survival rates of 88.4% and 74.6%, respectively.
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KFRC | Hot Stocks07:37 EST Kforce raises quarterly cash dividend 11% to 20c per share - David M. Kelly, CFO, said, "We believe our results in 2019 continue to demonstrate our ability to deliver above-market Tech Flex revenue growth, while also remaining on track to meet our operating margin commitments. We believe that our strong cash flows and balance sheet offer us an excellent opportunity to continue investing in our growth, returning capital to our shareholders and maintaining sufficient flexibility to pursue acquisitions and make other strategic investments. We are also pleased to announce that our Board of Directors approved an increase of approximately 11% to our first quarter cash dividend from 18c per share to 20c per share. This dividend will be payable on March 20, 2020, to shareholders of record as of the close of business on March 6, 2020."
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MBRX | Hot Stocks07:34 EST Moleculin Biotech to seek accelerated FDA approval for Phase 2 Annamycin trial - Moleculin Biotech intends to discuss with the FDA and EMA plans to conduct a single arm Phase 2 trial that would serve as the basis for accelerated approval of Liposomal Annamycin - Annamycin - to treat relapsed or refractory acute myeloid leukemia, or AML. This will follow the establishment of a recommended Phase 2 dose in the company's ongoing Phase 1 dose escalation trial in Europe. The FDA has already granted Annamycin Fast Track status and Orphan Drug Designation for AML. The announcement follows continuing "positive" results from Moleculin's open label, single arm Phase 1 trials in AML patients in Europe and the US. Most recently, the US Phase 1 study met its primary objective of demonstrating the safety of Annamycin at a dose that was cumulatively at or below the lifetime maximum anthracycline dose. Those results are consistent with results achieved with the parallel Phase 1 study being conducted in Europe, which has demonstrated the safety of escalating doses of Annamycin in AML patients. In both trials, the primary endpoints are aimed at demonstrating the product's safety, primarily the lack of cardiovascular risk. Based on these results, Moleculin will continue to focus the company's efforts on the European trial to establish an RP2D.
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CURR | Hot Stocks07:22 EST CURE Pharmaceutical signs licensing agreement with ReLeaf Europe - CURE Pharmaceutical announced that it has signed an exclusive licensing agreement with ReLeaf Europe. The agreement grants ReLeaf Europe exclusive access to CURE's encapsulation technology for certain oral and topical cannabis products in the Netherlands, the world's first medical cannabis market. ReLeaf Europe products will be the first to use the CUREinside quality mark to bolster consumer confidence. CURE will power several ReLeaf Europe products, including one sublingual tincture and two topical creams to be launched in 2020.
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SLGL | Hot Stocks07:18 EST Sol-Gel Technologies 'on track' to submit Twyneo NDA in 2H20 - Following positive Phase 3 data in December, Sol-Gel remains on track to submit the NDA for Twyneo for acne vulgaris in the second half of 2020.
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SLGL | Hot Stocks07:17 EST Sol-Gel Technologies 'on track' to submit Epsolay NDA in 1H20 - Following positive Phase 3 data in July 2019, Sol-Gel remains on track to submit the NDA for Epsolay for the treatment of papulopustular rosacea in the first half of 2020.
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SLGL | Hot Stocks07:17 EST Sol-Gel Technologies expects NDA filing for tapinarof in 2021 - "Tapinarof has proven to be an exciting and promising compound that has achieved the best clinical results to date in the treatment of psoriasis for a non-steroidal, topical product in a Phase 2b clinical program conducted by the originator of the drug. We continue to track the originator's progress and anticipate an NDA filing in 2021, following the completion of Phase 3 trials," commented Mori Arkin, Sol-Gel's Chairman of the Board of Directors. "Given the development pedigree of this asset, we believe that by standing on the shoulders of giants, we can potentially improve the efficacy and expand the indications of these products. Strategically, given our extensive IP research, we believe we will be able to launch our first branded tapinarof product in the U.S. in approximately 5.5 years following the approval of the originators tapinarof branded product. With respect to topical roflumilast, we estimate a significantly shorter timeline between launch of the first branded topical roflumilast and our branded product. However, regardless of our convictions, there is inherent risk in drug development including clinical, legal, and regulatory with no guarantee on our launch timeline."
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SLGL | Hot Stocks07:16 EST Sol-Gel Technologies to develop tapinarof, roflumilast for psoriasis treatment - Tapinarof and Roflumilast: Proprietary Development Programs: In recent months, including applications planned for February, the Company drafted and filed 15 provisional patent applications for tapinarof, an aryl hydrocarbon receptor agonist, and roflumilast, a PDE4 inhibitor for use in various dermatological indications, with a focus on unmet needs. The Company plans to develop both tapinarof and roflumilast for the treatment of psoriasis, with the potential for use as mono or combination therapy.
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SLGL | Hot Stocks07:15 EST Sol-Gel Technologies expects results from Phase 1 study of SGT-210 in 1H21 - SGT-210: Indication Expansion: SGT-210 is currently in a Phase 1 study in punctuate palmoplantar keratoderma type 1, with safety results expected in the first half of 2021. The Company is also planning to initiate pre-clinical studies to evaluate SGT-210 in plaque psoriasis, superficial squamous cell carcinoma and in combination with roflumilast to address various inflammatory conditions, such as hidradenitis suppurativa and prurigo nodularis.
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SLGL | Hot Stocks07:13 EST Sol-Gel Technologies CEO says 2019 was 'transformational year' - Sol-Gel Technologies provided a pipeline update and anticipated milestones for 2020. "2019 proved to be a transformational year, marked by our significant clinical progress, including positive Phase 3 results for our Epsolay and Twyneo programs," said Alon Seri-Levy, Sol-Gel's CEO "We are eager to build on this progress in 2020, with the addition of new pre-clinical programs for the treatment of psoriasis and other dermatological disorders. We are excited by the prospect of making a change in the lives of severely afflicted patients in the U.S. and worldwide, while preparing for two key NDA submissions for the treatment of papulopustular rosacea and acne vulgaris."
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GSK | Hot Stocks07:13 EST Glaxo sees added one-time costs to ready Consumer split of GBP600M-700M - GlaxoSmithKline says a new program has been initiated to prepare for separation of GSK into two companies: New GSK, a biopharma company with an R&D approach focused on science related to the immune system, use of genetics and new technologies; and a new leader in Consumer Healthcare. "As GSK increases investment in R&D and new product launches, the two-year separation programme aims to: Drive a common approach to R&D across modalities with improved capital allocation; Align and improve capabilities and efficiencies of global support functions to support New GSK; Further optimise supply chain and portfolio, including divestments of non-core assets. Strategic review of prescription dermatology underway; and Prepare Consumer Healthcare to operate as a standalone company," the company said. The program is to target delivery of GBP 0.7B of annual savings by 2022 with total costs estimated at GBP 2.4B, of which GBP 1.6B is cash. The program is expected to deliver improved operating performance, with meaningful improvements from 2022. Anticipated divestment proceeds largely expected to cover program cash costs. The company sees additional one-time costs to prepare Consumer Healthcare for separation estimated at GBP 600M-700M.
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HUM | Hot Stocks07:13 EST Humana CFO says 'we enter 2020 with positive momentum' - "We enter 2020 with positive momentum from strong 2019 results and industry-leading individual Medicare Advantage membership growth," said Brian Kane, CFO. "Seniors are increasingly choosing Medicare Advantage plans, and Humana's value proposition, consumer orientation and strong brand resonate in the market as we work to drive better clinical outcomes for our members supporting our strong earnings growth and reinvestment in our products. We expect 2020 to be another good year for the company with solid top and bottom line growth notwithstanding the return of the health insurance industry fee."
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AKS CLF | Hot Stocks07:12 EST AK Steel announces earlier date for Q4, FY19 financial release - AK Steel (AKS) said that to align the timing of its fourth quarter and full-year 2019 earnings release with the updated timing for Cleveland-Cliffs' (CLF) release of its fourth quarter and full-year 2019 earnings, AK Steel has changed the date of its fourth quarter and full-year 2019 financial results to Thursday, February 20, 2020, before the open of trading on the New York Stock Exchange.
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NEO | Hot Stocks07:12 EST NeoGenomics appoints Kathryn McKenzie as CFO, announces additional appointments - NeoGenomics announced three important leadership appointments. Kathryn McKenzie is named CFO. Ms. McKenzie joined NeoGenomics in 2017 and has recently served as Vice President of Finance and Chief Accounting Officer. William Bonello will become President, Informatics Division. Mr. Bonello most recently served as Chief Strategy and Corporate Development Officer helping to formulate the company's growth strategy. Bonello will continue to serve as Director of Investor Relations, a position he has held since 2018. Douglas Brown is joining NeoGenomics as Chief Strategy and Corporate Development Officer. Prior to joining NeoGenomics, Mr. Brown was Senior Managing Director with SVB Leerink with significant expertise in the oncology diagnostic sector.
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BTAI | Hot Stocks07:11 EST BioXcel Therapeutics announces FDA clearance of IND for BXCL501 - BioXcel Therapeutics announced that its Investigational New Drug application for BXCL501, the Company's proprietary sublingual thin-film formulation of dexmedetomidine has received clearance from the U.S. Food and Drug Administration for the treatment of opioid withdrawal symptoms. Opioid withdrawal is an emotional and physiological medical condition that may be driven by the excessive drive of noradrenergic neurons that originate from the locus coeruleus in the brainstem. BXCL501 selectively activates alpha-2a adrenergic receptors, which decreases excessive neuronal firing, alleviating the physiological symptoms of opioid withdrawal. The RELEASE trial is a multicenter, randomized, double-blind, placebo-controlled, ascending-dose Phase 1b/2 study designed to evaluate the safety, pharmacokinetics, tolerability and efficacy of BXCL501 in patients experiencing symptoms of opioid withdrawal. This study will enroll subjects with opioid use disorder who are physically dependent on opioids. Patients will be randomized into multiple dose cohorts of BXCL501, or matching placebo, administered twice daily for five days. The study will assess opioid withdrawal symptoms using both the Clinical Opiate Withdrawal Scale and Short Opiate Withdrawal Scale of Gossop over a 10-day period.
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SPOT | Hot Stocks07:10 EST Spotify announces acquisition of Bill Simmons' The Ringer, terms not disclosed - Spotify Technology announced that the company has entered into a definitive agreement to acquire The Ringer, a leading creator of sports, entertainment and pop culture content. "The Ringer was founded by Bill Simmons in 2016. Terms of the transaction were not disclosed. With this acquisition, Spotify continues to deliver against its goal to become the world's leading audio platform. The Ringer will bring to Spotify its industry leading sports and entertainment team, podcast catalog and website, further expanding Spotify's content offering and audience reach. With its popular show lineup, The Ringer also offers new opportunities for monetization along with a continued focus on deepening audience engagement and innovating formats within Spotify's business model. Not only has Simmons been a podcast pioneer in sports, he has also been a dominant force in the podcast pop culture arena." The transaction is expected to close in Q1.
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CHRS | Hot Stocks07:09 EST Coherus says Lucentis biosimilar candidate BLA withdrawn after FDA request - As previously disclosed, Coherus BioSciences licensed U.S. rights from Bioeq AG to Bioeq's Lucentis biosimilar candidate. Bioeq filed a Biologic Licensing Application with the FDA in December 2019. At the request of a national European health authority addressed to Bioeq's drug substance contract manufacturer, the manufacturer moved a piece of processing equipment to a different location within the same site after the production of Bioeq's Lucentis biosimilar candidate qualification batches was completed, Coherus said last night in a regulatory filing. In addition, the FDA has requested additional manufacturing data for the equipment in its new location in the context of its review of the BLA application, it added. Coherus believes that it will take approximately four months to generate this additional data to comply with the FDA's request. As a result, Bioeq has decided to withdraw its BLA application for its Lucentis biosimilar candidate, provide the requested data and resubmit the application thereafter. The company anticipates that such withdrawal and resubmission may delay the approval of a BLA for Bioeq's Lucentis biosimilar candidate. Shares of Coherus Biosciences are down 4% to $18.72 in premarket trading.
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CPLP | Hot Stocks07:09 EST Capital Product raises quarterly cash distribution of 35c per common unit - On January 21, 2020, the Board of Directors of the Partnership declared an increased cash distribution of 35c per common unit for the fourth quarter of 2019, representing an increase of 3.5c per common unit compared to the common unit distribution for the previous quarter, payable on February 11, 2020 to common unit holders of record on February 3, 2020.
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CLF AKS | Hot Stocks07:08 EST Cleveland-Cliffs moves up Q4 earnings release date to Feb. 20 - Cleveland-Cliffs (CLF) announced that it has updated the date of its upcoming earnings release and call to accommodate a sooner-than-expected Shareholder Meeting date to approve the acquisition of AK Steel (AKS). The company will now report its results before the U.S.-market open on Thursday, February 20. The company will host its Q4 earnings conference call on the same date at 10:00 a.m. ET.
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STAA | Hot Stocks07:04 EST Staar Surgical enters strategic cooperation agreement with SEI - Staar Surgical announced that it entered a strategic cooperation agreement with Senshinkai Eye Institute, or SEI, an eye care group with five locations in Japan. Like other strategic cooperation agreements, the agreement includes volume commitments for the company's implantable collamer lenses, or ICLs, ICL surgeon training and certification, tools for patient education and co-marketing. Senshinkai Eye Institute personnel totals 115, including 12 full-time and 20 part-time medical doctors and 17 specialist optometrists across five locations in the Tokyo, Osaka, and Fukuoka prefectures.
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CSIQ | Hot Stocks07:04 EST Canadian Solar and Lightsource BP sign 1.2 GW module supply agreement - Canadian Solar has signed a multi-year module supply agreement with Lightsource BP to deliver 1.2 GW of polycrystalline solar modules for projects in the US and Australia. Lightsource BP is a global company specializing in the development, acquisition and long-term management of large-scale solar projects and smart energy solutions.
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PAG | Hot Stocks07:04 EST Penske Automotive reports Q4 new vehicle gross profit per unit $257 - CEO Roger Penske says: "I am very pleased with the performance of our business in the fourth quarter. We grew revenue by 8%, delivered strong gross profit per unit retailed in automotive, improved selling, general and administrative expenses as a percentage of gross profit by 110-basis points and increased earnings per share by 12.6%, when compared to an adjusted fourth quarter of 2018. The strength of our U.S. auto retail operations coupled with the recent commercial truck acquisition, more than offset the challenging market conditions in the U.K. As we have moved into the first quarter of 2020, we are encouraged with the improved business conditions in the U.K., including a stronger order environment, as the U.K. officially separated from the European Union at the end of January."
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PAG | Hot Stocks07:02 EST Penske Automotive reports Q4 same-store retail automotive revenue up 5.5%
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AME | Hot Stocks07:02 EST Ametek acquires IntelliPower - Ametek announced that it has acquired IntelliPower, a provider of ruggedized, uninterruptable power systems serving a wide range of defense and industrial applications. IntelliPower designs and manufactures a broad portfolio of ruggedized solutions including uninterruptable power systems, external battery packs, power distribution units and power conditioners. These products protect mission-critical applications by utilizing high-efficiency, power-switching technology which can be remotely monitored and managed. IntelliPower is headquartered in Orange, California. The company has annual sales of approximately $40M and was acquired for approximately $115M. IntelliPower joins Ametek as part of its electronic instruments group.
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TECH | Hot Stocks07:02 EST Bio-Techne announces availability of next generation ELISA kits - Bio-Techne announced the release of the Quantikine QuicKit ELISA product line. This next generation ELISA product line expands the capabilities of the legacy Quantikine ELISA kits, enabling researchers to accomplish more in their day, without compromising quality. These assays provide accurate quantitation of proteins in serum, plasma, and cell supernates in just 90 minutes.
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NS | Hot Stocks06:53 EST NuStar Energy backs FY20 EBITDA view $715M-$765M
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PYX | Hot Stocks06:53 EST Pyxus enters agreement with Shenzhen Smoore on PMTA projects - Pyxus and Shenzhen Smoore, a manufacturer of electronic nicotine delivery systems, or ENDS, have entered into an agreement to share key costs, as well as research and testing data, improving efficiencies related to their respective Premarket Tobacco Product Applications, or PMTA. All tobacco products introduced or modified after February 15, 2007, require pre-market authorization by the FDA in order to be commercially marketed in the United States. Pursuant to FDA guidance, all PMTAs are due by May 12. Under the new agreement, Bantam and Humble Juice Co. have paired certain Smoore ENDS devices-both an open tank device and a refillable cartridge-based device-with the brands' 84 e-liquid nicotine SKUs. The selected SKUs include many of Bantam and Humble's top-selling flavor profiles in various nicotine strengths and bottle sizes. These flavor profiles are manufactured by Purilum, a manufacturer of e-liquids, flavor concentrates and finished bottle products and a Pyxus joint venture. Both companies' respective e-liquids businesses plan to submit their PMTAs to the FDA on or before the May filing deadline.
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MRK | Hot Stocks06:52 EST Merck says Kevin Ali to be named CEO for NewCo - Kevin Ali will be named chief executive officer of NewCo. Ali has led Merck's enterprise portfolio strategy initiative, reporting to Frazier, for the past year. "Built on the foundation of a trusted, high-quality portfolio, NewCo will help people around the world live healthier lives, with a special focus on investing in innovations for the distinct healthcare needs of women," Ali said. "We are committed to becoming a leader in Women's Health driven by organic and inorganic opportunities fueled by our portfolio of trusted legacy brands and our commitment to growing our rapidly expanding biosimilars business." Carrie Cox will be named NewCo's Chairman of the Board of Directors. Cox has extensive experience in the pharmaceutical industry and deep expertise in women's health, formerly serving as chairman of Array BioPharma Inc., CEO and chairman of Humacyte Inc., president of Global Pharmaceuticals at Schering-Plough Corporation, executive vice president of Pharmacia Corporation and vice president of Women's Health Care at Wyeth-Ayerst Laboratories, Inc.
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MRK | Hot Stocks06:51 EST Merck reports Q4 pharmaceutical sales increased 7% to $10.5B
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MRK | Hot Stocks06:51 EST Merck's NewCo to generate 2020 revenue of approximately $6.5B within Merck - The products to be spun off into NewCo are expected to generate 2020 revenue of approximately $6.5 billion within Merck, with a non-GAAP operating margin of approximately 45%. As an independent company from a 2021 base-year of approximately $6.0 billion to $6.5 billion in revenue, NewCo is expected to achieve low-single-digit revenue growth. Inclusive of costs necessary in standing up NewCo as an independent company, non-GAAP operating margins are expected to be in the mid-30% range in the first year post separation and increase over time. NewCo's EBITDA margins are expected to be in the low-to-mid 40% range in the first year post separation and increase over time. NewCo is expected to have $8.5 billion to $9.5 billion in initial debt, with substantial cash flow that will provide ample financial flexibility for potential business development, debt paydown and a meaningful dividend. This expected dividend will be entirely incremental to Merck's dividend. The transaction is intended to take the form of a tax-free distribution to Merck shareholders of a new publicly traded stock in NewCo. The spinoff is expected to be completed in the first half of 2021, subject to market and certain other conditions.
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MRK | Hot Stocks06:50 EST Merck CEO says 'in a position of operational and financial strength' - "As evidenced by our results and our 2020 guidance, Merck had an extraordinary year and is in a position of operational and financial strength," said Kenneth Frazier, chairman and CEO, Merck. "It is this position of strength, born of our focused execution, that gives us the confidence to spin off our Women's Health, trusted Legacy Brands and Biosimilar products into a new company, which will position us to deliver even greater value to patients and shareholders."
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MRK | Hot Stocks06:50 EST Merck expects 'strong' revenue growth each year through 2024 - Merck expects strong revenue growth each year through 2024, which will accelerate as a result of the spinoff. Merck continues to expect meaningful operating margin expansion over time. The spinoff of NewCo should enable Merck to achieve incremental operating efficiencies in excess of $1.5 billion by 2024, while continuing to increase investment in key growth drivers and pipeline assets. Merck is therefore targeting Non-GAAP operating margins greater than 40% in 2024, higher than what Merck expected to achieve pre-spinoff. Merck expects to receive $8 billion to $9 billion through a special tax-free dividend from NewCo. Merck expects that these funds will be allocated to business development or share repurchases and will provide more details about the planned usage of these funds closer to the spinoff date.
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MRK | Hot Stocks06:50 EST Merck reports Q4 KEYTRUDA sales grew 45% to $3.11B
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MRK | Hot Stocks06:49 EST Merck to retain current 2020 dividend of $2.44 per share - Merck will retain its current 2020 dividend of $2.44 per share and anticipates future increases with the goal of achieving a 47% to 50% payout ratio over time.
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MRK | Hot Stocks06:49 EST Merck to retain current growth pillars of Oncology, Vaccines, Animal Health - Merck will retain its current growth pillars of Oncology, Vaccines, Hospital and Animal Health and continue to invest in research and development of breakthrough innovations across all areas of science. Led by products, including KEYTRUDA, Lynparza, Lenvima, GARDASIL, BRIDION, ZERBAXA, and BRAVECTO, as well as its diabetes business and other key products, Merck will continue to benefit from broad commercial scale and remains committed to ensuring continued access to its innovative medicines across the globe. The spinoff of NewCo will reduce Merck's Human Health manufacturing footprint by approximately 25% and the number of Human Health products it manufactures and markets by approximately 50%. This will allow for a more focused operating model in support of its growth products. As a result, Merck expects to optimize its resources, grow faster and achieve meaningful operating margin expansion over time through increased productivity and efficiency. NewCo will pursue global leadership and focused, sustainable growth in Women's Health led by the growing and patent-protected NEXPLANON franchise and fueled by its leading contraceptive and fertility businesses. NewCo expects to establish a leading position in Biosimilars along with its partner, Samsung Bioepis Co., Ltd., focusing on its current portfolio including RENFLEXIS and BRENZYS in immunology and ONTRUZANT in oncology, and is well-positioned to be a partner in the commercialization of biosimilars worldwide. NewCo will have a large portfolio of highly profitable and trusted brands consisting of dermatology, pain, respiratory, select cardiovascular products including ZETIA and VYTORIN, as well as the rest of Merck's Diversified Brands, with strong cash flows that will support investments in future growth opportunities. In addition, NewCo will pursue opportunities to partner with biopharmaceutical innovators looking to commercialize their products by leveraging NewCo's scale and presence in fast growing international markets. NewCo will have a global footprint with approximately 75% of sales generated from ex-U.S. markets, significant scale and geographic reach, world-class commercial capabilities, and approximately 10,000 to 11,000 employees. NewCo is expected to be headquartered in New Jersey.
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PYX TPB | Hot Stocks06:48 EST Pyxus signs agreement with Turning Point Brands - Pyxus International (PYX) announced its collaboration with Turning Point Brands (TPB). The companies have chosen to share certain science-based research and testing data in order to form the foundation of some of their respective Premarket Tobacco Product Applications, or PMTAs, prior to submission to the FDA. Additionally, the companies announced that Turning Point Brands has signed a supply agreement for its house brands of e-liquids, thereby expanding its existing relationship with Pyxus' joint venture, Purilum, a manufacturer of e-liquids, flavor concentrates and finished bottle products. All tobacco products introduced or modified after February 15, 2007, require premarket authorization by FDA in order to be commercially marketed in the United States. Pursuant to FDA guidance, all PMTAs are due by May 12. The companies will share various costs and key data associated with extensive studies performed to support their respective PMTA submissions. In addition, Purilum currently provides the flavor formulations for some of TPB's next generation products. Both Pyxus and Turning Point Brands anticipate submission of their respective PMTAs on or before the May filing deadline.
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MRK | Hot Stocks06:46 EST Merck to spin off products from Women's Health, Legacy Brands, Biosimilars - Merck announced its intention to spin-off products from its Women's Health, trusted Legacy Brands, and Biosimilars businesses into a new, yet-to-be-named, independent, publicly traded company. The spinoff will allow both management teams to drive increased responsiveness to the particular needs of their patients and customers and achieve faster growth through focused and fit-for-purpose operating models. Merck said in a statement that it will continue to benefit from strong growth across its current key pillars of Oncology, Vaccines, Hospital and Animal Health, while remaining fully committed to investing in research and development in pursuit of breakthrough innovations across all areas of science and to driving value from its deep late-stage pipeline. "Over the past several years, we have purposefully shifted the focus of our efforts and resources to our best opportunities for growth," said Kenneth C. Frazier, chairman and chief executive officer, Merck. "This has led to the exceptional results we are reporting today. Given the opportunities now in front of us, we believe we can benefit from even greater focus. At the same time, we believe additional resources and focus will help ensure that our expansive portfolio, including many trusted and medically important products, reach their full potential. We have therefore made the decision to separate into two growth companies: Merck and NewCo. By optimizing our human health portfolio, Merck can move closer to its aspiration of being the premier research-intensive biopharmaceutical company, while also properly prioritizing a set of products at NewCo that are important to public health and the patients who rely on them, and which present real opportunities for growth."
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MRK | Hot Stocks06:46 EST Merck to spin off products from Women's Health, Legacy Brands, Biosimilars
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HL | Hot Stocks06:42 EST Hecla Mining reports Q4 exploration expenses down 74% y-o-y to $2.2M - FY20 exploration expenses were down 58% to $15.2M
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HL | Hot Stocks06:41 EST Hecla Mining reports record silver, lead and zinc reserves - Hecla Mining reported the highest silver, lead, and zinc reserves in its 129-year history. Company-wide reserves increased 11% for silver ounces including 22% more silver ounces at Greens Creek. "The foundation of value creation for any mining company is increasing reserves, and Hecla's silver, lead and zinc reserves are the most in our 129-year history," said Phillips Baker, Jr., CEO. "Despite using what we believe is the industry's most conservative price assumption and spending our second lowest amount on exploration in the last 10 years, Hecla grew silver reserves 11% last year with Greens Creek having its most reserves since 2001. We expect our exploration programs over the next few years to further add reserves across the company." Silver, zinc and lead production were replaced, and reserves increased by 11%, 8% and 5%, respectively. About 60% of gold production was replaced - 341,064 gold ounces contained - and proven and probable reserves decreased only 5% over 2018; gold reserves were calculated at $1,300/oz. Measured and indicated silver ounces increased 4% to a record 217 million ounces, an increase of 9 million ounces over 2018. Measured and indicated gold ounces decreased 19% to 5.8 million ounces, a reduction of 1.34 million ounces over 2018 due to conversion and reclassification. Inferred silver resources decreased 2% to 457 million ounces, a reduction of 8.3 million ounces. Inferred gold resources increased 35% to 4.9 million ounces.
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CPRI | Hot Stocks06:40 EST Capri Holdings: Situation in China having 'material impact' on business - John Idol, the company's Chairman and CEO, said, "For the third quarter, we were pleased to deliver revenue and earnings per share above our expectations. Our revenue increase reflected the addition of Versace and growth from Jimmy Choo, while Michael Kors revenue was better than anticipated. The strategic initiatives for our recent acquisitions, Versace and Jimmy Choo, continue to gain traction, and we believe we are on the right path to position Michael Kors for future growth. Longer term, as we continue to execute against our strategies, we are confident in our ability to deliver multiple years of revenue and earnings growth. We are in the midst of a dynamic global health emergency related to the coronavirus. Our thoughts and prayers go out to the people of China, including our own employees located in this region, as well as all of those affected by the virus globally. We hope for a speedy and positive resolution to this crisis. The situation in China and the measures being taken to protect the population are having a material impact on our business. Given our current visibility, we now anticipate annual revenue of approximately $5.65 billion and adjusted earnings per share of $4.45 to $4.50. This estimate could materially change if the severity of the situation in China worsens."
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HUM | Hot Stocks06:32 EST Humana backs 2020 individual Medicare Advantage membership growth outlook - Reaffirmed expected FY 2020 individual Medicare Advantage membership growth of 270,000-330,000 members, representing 7.5%-9.2% growth over 2019. Revised FY 2020 stand-alone PDP membership guidance to a decline of approximately 550,000 members from previous expectation of an approximate 600,000 member decline.
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SPOT | Hot Stocks06:10 EST Spotify says ends Q4 with 124M Premium Subscribers globally, up 29% y/y
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SPOT | Hot Stocks06:09 EST Spotify says 'well positioned for growth in the coming year' - Management said, "The business continued to perform well in 4Q19. For the third consecutive quarter, total MAU growth accelerated while Subscribers, Revenue, and Gross Margin all met or exceeded our expectations. We continue to see exponential growth in podcast hours streamed (up approximately 200% Y/Y) and are now seeing clear indications that podcast usage is driving increased overall engagement and retention. We have seen early indications that our investments in podcasts are having a positive impact on conversion of free to paid users. Overall, the business performance remains strong, and we believe we are well positioned for growth in the coming year."
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LPG | Hot Stocks06:08 EST Dorian LPG increases share repurchase program by additional $50M - Dorian LPG announces that the board authorized an increase to the company's stock repurchase program to repurchase up to an additional $50M of common stock. The company repurchased $8.6M of shares of common stock during the three months ended December 31, 2019 under the $50M stock repurchase program the board authorized on August 5, 2019.
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SPOT | Hot Stocks06:08 EST Spotify reports Q4 MAUs 271M, up 31% y/y - The company said, "For the third straight quarter, we have outperformed the high end of our MAU guidance range as top-of-funnel growth continues to accelerate. Growth re-accelerated across our 3 largest regions (Europe, North America, and Latin America), while the Rest of World segment remains our fastest growing. Of note, North America saw the fastest quarterly growth since 4Q'18. Seeing a re-acceleration in user growth, at our scale, is a strong signal to us of the health of our business. We know, from history, that strong MAU trends are a harbinger of future subscriber and financial growth."
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WD | Hot Stocks06:06 EST Walker & Dunlop increases quarterly dividend 20% to 36c per share - Walker & Dunlop's board declared a quarterly dividend of 36c per share, a 20% increase from the quarterly dividends declared in 2019. The dividend will be paid March 9 to all holders of record of our restricted and unrestricted common stock and restricted stock units as of February 21. The company's board also authorized the repurchase of up to $50M of the company's outstanding common stock over the coming one-year period.
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SUM | Hot Stocks06:04 EST Summit Materials sees FY20 Adjusted EBITDA $460M-$500M - Sees FY20 CapEx $185M-$205M, including approximately $65M-$80M estimated for greenfield opportunities.
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PTEN | Hot Stocks06:02 EST Patterson-UTI reports an average of 123 drilling rigs operating in January - Patterson-UTI reported that for the month of January, the company had an average of 123 drilling rigs operating.
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CTSH | Hot Stocks05:12 EST Cognizant intends to acquire EI-Technologies, terms not disclosed - Cognizant has entered into exclusive negotiations to acquire the French operations of EI-Technologies, a Paris-based, privately-held digital technology consulting firm and independent Salesforce specialist in France. The proposed acquisition would complement Cognizant's global Salesforce practice, expanding client resources in Europe. The planned acquisition requires advance consultation with the relevant works councils and would be subject to customary closing conditions. Financial terms of the proposed transaction are not being disclosed. Through this acquisition, Cognizant would add approximately 345 employees in France.
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ARES | Hot Stocks05:09 EST Ares Management acquires 2,900 residential units across Germany - Ares Management announced that a fund managed by its Real Estate Group has acquired a portfolio of 2,900 residential units across several German cities, including top metropolises such as Berlin, Leipzig, Dresden, Essen and Dortmund. The portfolio comprises large residential complexes as well as classic turn-of-the-century buildings, most of which are within close proximity of each location's city centre. The portfolio's total rentable area amounts to approximately 210,000 square meters. Ares will continue to work with Forte, a Frankfurt-based real estate asset manager that Ares partnered with since 2013 to acquire and manage its existing German residential investments, in order to add value through refurbishment, repositioning and vacancy reduction across the portfolio.
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