Stockwinners Market Radar for February 26, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:29 EST Stepan Company updates on Millsdale Plant incident - On February 20, 2020, the fompany announced that its Millsdale plant was forced to stop production of Phthalic Anhydride and Surfactants due to power outage-related operational issues that impacted the site's waste water treatment plant. As a result, the company declared force majeure for the supply of PA and certain Surfactant product lines.

19:36 EST NiSource sells Columbia Gas of Massachusetts to Eversource - NiSource (NI) announced that it has entered into a definitive agreement under which Eversource Energy (ES) will acquire Columbia Gas of Massachusetts' business. With Columbia Gas, Eversource will serve 626,000 natural gas customers in Massachusetts alone across more than 60 communities. Until the close of the transaction, which is expected to occur by the end of the third quarter 2020, NiSource will continue to remain focused on driving customer safety and service at Columbia Gas, as well as continuing to make ongoing enhancements in all areas of operations going forward.

19:07 EST Insight Enterprises announces $50M stock buyback - Insight Enterprises announced that its board of directors has authorized the repurchase of up to $50M of the company's common stock. The company's share repurchases will be made on the open market, through block trades, through 10b5-1 plans or otherwise. The number of shares purchased, and the timing of the purchases will be based on working capital requirements, general business conditions and other factors. The company intends to retire the repurchased shares.

18:40 EST Walmart's Furner sells 50,000 common shares - In a regulatory filing, Walmart executive VP John R. Furner disclosed the sale of 50,000 common shares of the company on February 24 at a price of $116.5041 per share.

18:07 EST Eversource to acquire Columbia Gas of Massachusetts assets for $1.1B - Eversource Energy (ES) announced that it has reached an agreement to purchase the Massachusetts natural gas assets of Columbia Gas for $1.1B from NiSource (NI). The acquisition will bring Columbia Gas operations in Massachusetts under local ownership by the largest energy company in New England. Columbia Gas currently serves 330,000 natural gas customers in more than 60 communities in Massachusetts. Eversource has 300,000 natural gas customers and 1.5 million electric customers in 51 communities across the commonwealth. Many communities that Columbia Gas serves with natural gas already receive electric service from Eversource. Under the asset purchase agreement, liabilities related to the September 2018 gas distribution incidents in the Merrimack Valley will remain the responsibility of Columbia Gas's current parent company, NiSource. The transaction is expected to be accretive to Eversource's earnings per share in the first 12 months after closing. The company plans to finance the transaction with a balance of new equity and debt that maintains its strong credit profile. The transaction will require approval from the Massachusetts Department of Public Utilities and the U.S. Justice Department under the Hart-Scott-Rodino Act. Eversource and Columbia Gas intend to engage with key regulatory stakeholders and consumer advocates over the next 30 days to review the investments needed to operate the system, to minimize rate impacts and review key benefits for customers. The parties expect to close the transaction by the end of the third quarter 2020. "Eversource is uniquely positioned to leverage the strengths of our current and future workforce, facilities, gas supply resources and business processes to achieve greater operational efficiency, while continuing to deliver on our unwavering commitment to safety and superior service for our customers," said Eversource Chairman, President and CEO Jim Judge. "As the #1 rated energy company in the U.S. by Newsweek and the #1 ranked utility according to Forbes and JUST Capital for corporate social responsibility, we are focused on providing safe and reliable service to our customers while at the same time nurturing a diverse and engaged workplace for employees and working to protect the environment. We look forward to bringing that commitment to all of our new customers and employees."

18:02 EST Levi Strauss hires Tracy Layney as Chief Human Resources Officer - Levi Strauss & Co. announced that it has hired Tracy Layney as senior VP and Chief Human Resources Officer, effective April 20. Most recently, Layney was senior VP and CHRO at Shutterfly.

17:56 EST Datadog holder Yucca sells 138,508 shares of company stock - Datadog holder Yucca disclosed in a filing, that between February 24 and February 25, it had sold 138,508 shares of company stock at an average price of $44.57 per share. The total transaction value of the sale was $6,173,288.

17:49 EST Stoneridge sees FY20 adjusted gross margin 28%-29% - Sees FY20: Adjusted operating margin of 5.0% - 6.0%; Adjusted EBITDA margin of 9.0% - 10.0%; Effective tax rate of 20.0% - 25.0%.

17:37 EST Continental Resources down 16% to $17.40 after Q4 results, FY20 guidance

17:34 EST H Partners increases stake in Six Flags to 8.27% from 6.51% - H Partners bought 1.5M shares of common stock between February 24 and February 26. Following these transactions, H Partners now owns 7M shares of common stock. H Partners continues to be optimistic about Six Flags' long-term prospects.

17:22 EST Marriott Vacations sees FY20 adjusted EBITDA $820M-$860M - Sees FY20 adjusted free cash flow $425M-$500M.

17:21 EST Marriott Vacations CEO says 'ILG integration continues to go well' - "I am very pleased with how we ended the year, growing contract sales by 10% in the fourth quarter and Adjusted EBITDA by 15%, once again illustrating the strength and resilience of our business model. We grew VPG by 9% in the fourth quarter, including 12% growth at our Legacy-ILG sales centers, as we continue to narrow the gap with Legacy-MVW," said Stephen Weisz, president and CEO. "The ILG integration continues to go well and we expect to achieve at least $95 million of run-rate synergies by the end of 2020, well on our way towards achieving at least $125 million in run-rate savings by the end of 2021. As a result, 2020 is shaping up to be another great year for Marriott Vacations Worldwide, with estimated contract sales growth of 7% to 11% and Adjusted EBITDA growth of 8% to 13%."

17:16 EST Steel Dynamics raises quarterly dividend 4%, announces $500M share repurchase - Steel Dynamics announced that the company's board of directors declared a first quarter cash dividend of 25c per common share, a 4% increase over the company's 2019 quarterly rate. The dividend is payable to shareholders of record at the close of business on March 31 and is payable on or about April 10. The board of directors also authorized an additional share repurchase program of up to $500M of the company's common stock. The authorization is effective immediately and is additive to the previous $750M program, which had $51M remaining authorized and available for repurchase at December 31, 2019.

17:03 EST Laredo Petroleum sees 2021-2022 free cash flow $15M-$100M - Laredo's transition to full-scale development in Howard County in 2020 is expected to drive a substantial improvement in capital efficiency beginning in 2021. Capital required to maintain a mid-single digit oil growth rate, assuming current service costs, is expected to decrease by 15%-20% in 2021, improving the company's ability to generate free cash flow. At a WTI price of $50 per barrel, cumulative free cash flow over the two-year 2021-2022 period is expected to be at least $15M, rising to at least $100M at a WTI price of $55 per barrel.

17:02 EST TreeHouse TreeHouse Foods names Triona Schmelter chief transformation officer

17:01 EST TreeHouse Foods to reorganize from three divisions to two divisions - TreeHouse Foods announced a series of organizational changes designed to optimize the business and further create value for customers. Beginning in the first quarter of 2020, TreeHouse will reorganize from three divisions, currently structured according to product category, to two divisions, organized according to market dynamics - Snacking & Beverages and Meal Preparation. The Snacking & Beverages division will include categories which show greater growth potential in the marketplace, specifically: Bars, Broth, Candy, Cookies & Crackers, Griddle, Pita, Powdered & Liquid Beverages, Pretzels, Tea, and Other Blends. In 2019, the Snacking & Beverages division had revenue of approximately $1.7 billion. The focus of the division will be on revenue growth, and research, development and commercialization will be geared toward evolving consumer trends. The reorganization of Snacking & Beverages will enable TreeHouse to apply the proper resources to meet its retail customers' goals around experience, uniqueness and differentiation in private label. The Meal Preparation division will be comprised of the following categories: Bouillion, Cheese & Pudding, Hot Cereal, Non-Dairy Creamer, Pasta & Dry Dinners, Pickles, Pourable & Spoonable Dressings, Preserves, Red Sauces, Refrigerated Dough, Sauces, Single Serve Coffee, and Syrup. In 2019, the Meal Preparation division had revenue of approximately $2.6 billion. The focus of the division will be on productivity, efficiency and cash flow. Operational progress will be driven by continuous improvement and value engineering. The reorganization allows TreeHouse to apply resources that better align with customers' goals for driving value within the center of the retail grocery store. Triona Schmelter, currently President, Meal Solutions, will take on the newly created role of Chief Transformation Officer. She will focus her efforts on how the Company leverages shared resources across the organization, including its approach to distribution and logistics, sourcing and shared business services. In this new role, Ms. Schmelter will work with the functional leaders to build capabilities for the future and capture savings to drive growth. Transition expenses related to the reorganization will be handled within the Company's TreeHouse 2020 restructuring program. As a result, cash restructuring expenses, as well as selling, general and administrative savings have already been contemplated within the Company's 2020 guidance issued February 13.

16:58 EST LendingClub names Annie Armstrong as Chief Risk Officer - LendingClub (LC) announced that is has selected Annie Armstrong to serve as the company's Chief Risk Officer. At the same time, the company announced that the current CRO, Tim Bogan will take on a new role as Chief Banking Integration Officer to focus on the planning, process, systems, and organizational design work necessary to complete LendingClub's acquisition of Radius Bank as announced on February 18. Armstrong will join on March 16 and will transition in partnership with Bogan until formally assuming the role on July 1. Prior to joining LendingClub, she served as Global Head of Financial Risk for Uber (UBER) where she built the risk management function for the then largest pre-IPO company in the Bay Area.

16:54 EST Kraton sees FY20 adjusted EBITDA $200M-$220M

16:51 EST Domino's Pizza's Brandon sells 6,500 common shares - In a regulatory filing, Domino's Pizza director David Brandon disclosed the sale of 6,500 common shares of the company on February 25 at a price of $375.618 per share.

16:45 EST Comfort Systems USA raises quarterly dividend to 10.5c per share from 10c - Comfort Systems USA, Inc. announced that its board of directors declared a quarterly dividend of 10.5c per share, which is a 0.5c increase from the company's most recent dividend, on Comfort Systems USA, Inc. common stock. The dividend is payable on March 20, 2020 to stockholders of record at the close of business on March 9, 2020.

16:44 EST Regenxbio announces cash, equivalents of $400M - Based on its current operating plan, REGENXBIO expects its balance in cash, cash equivalents and marketable securities of $400M to fund the completion of its internal manufacturing capabilities and clinical advancement of its product candidates into 2022.

16:40 EST Resideo announces cost savings plan - "During the fourth quarter of 2019, Resideo's board of directors formed a strategic and operational committee tasked with spearheading a comprehensive financial and operational review of the entire business," said Teich, the chairman of the committee. "We are today announcing a comprehensive, multi-year, multi-phase program with three areas of focus to drive value in the long-term: Revenue and Gross Margin Growth; Selling, General & Administrative Optimization; and, Structural Efficiency and Working Capital Management.We have identified specific opportunities and developed a detailed implementation plan for the first phase, which largely includes SG&A cost savings and direct and indirect spend reductions." Teich continued, "We believe that the initiatives announced today will lay a foundation to deliver improved performance as the company renews its focus on its core competencies and implements the first phase of these executable and impactful initiatives. We are poised to further develop and begin executing the second phase of our multi-year plan, which we believe will position Resideo for sustainable success. The company expects this program to deliver $30 - $40 million of incremental adjusted EBITDA for 2020 and $80 - $120 million of incremental adjusted EBITDA in 2021. Overall, the total program is expected to drive greater than $200 million of incremental adjusted EBITDA in 2022 and beyond. Moving forward, we have an industry-leading global distribution business and an attractive Products & Solutions portfolio with strong relationships and brand equity among professional installers. While the execution of our financial and operational review is in the early stages, there are clearly significant opportunities for improvement, particularly in the Products & Solutions business. We are building momentum and expect the opportunities we have identified and actions we are taking will provide meaningful financial benefits, expand over time, strengthen our long-term growth profile and best position Resideo to deliver increased returns to our shareholders."

16:38 EST Marriott sees Q1 comparable systemwide RevPAR up 1%-2% - The company said, "For the 2020 first quarter, Marriott assumes comparable systemwide RevPAR on a constant dollar basis will increase 1 to 2 percent worldwide and in North America. The company assumes first quarter 2020 gross fee revenues will total $940 million to $950 million, a 5 to 6 percent increase over first quarter 2019 gross fee revenues of $895 million. The company anticipates first quarter 2020 incentive management fees will decrease slightly compared to first quarter 2019 incentive management fees of $163 million. The company assumes first quarter 2020 general, administrative, and other expenses could total $230 million to $234 million. Marriott assumes first quarter 2020 adjusted EBITDA could total $853 million to $867 million, a 4 to 6 percent increase over first quarter 2019 adjusted EBITDA of $821 million."

16:35 EST Marriott cannot fully estimate financial impact from coronavirus - Marriott said in tonight's earnings release, "Due to the uncertainty regarding the duration and extent of the Coronavirus outbreak, Marriott cannot fully estimate the financial impact from the virus, which could be material to first quarter and full year 2020 results. As such, the company is providing a base case outlook for the first quarter and full year 2020, which does not reflect any impact from the outbreak. Assuming the current low occupancy rates in the Asia Pacific region continue, with no meaningful impact outside the region, Marriott estimates the company could earn roughly $25 million in lower fee revenue per month, compared to its 2020 base case outlook. Room additions for the current year could also be delayed as a result of the Coronavirus outbreak."

16:34 EST Super League CEO says in contact with int'l partners over coronavirus - In response to a request for comment by The Fly on possible risks associated with coronavirus, as well as the company's partnership with Wanda Cinemas in China, Super League Gaming chairman and CEO Ann Hand provided the following statement: "As an organization with global business initiatives, we have been in constant contact with our international partners about this serious health concern. Cinema events are just one of the many ways Super League activates with the passionate gaming community. We will continue to closely monitor the fluid situation and immediately address any issues."

16:29 EST CompX increases quarterly dividend to 10c per share - CompX International announced a 3c per share increase in its regular quarterly dividend. CompX's board has declared a regular quarterly dividend of 10c per share on its class A common stock, payable on March 19 to stockholders of record at the close of business on March 9.

16:25 EST WPX plans to dividend in Q3 after integrating Felix assets - The companu said, "WPX plans to implement a dividend after integrating the Felix assets, targeting approximately $0.10 per share on an annualized basis at initiation. The first payment is planned for third-quarter 2020. For 2020, WPX has 65,000 bbl/d of oil hedged with fixed price swaps at a weighted average price of $57.07 per barrel and 20,000 bbl/d with collars at a weighted average price of $53.33 for the floor and $63.48 for the ceiling. Additionally, WPX will assume 26,484 bbl/d of 2020 fixed price swaps executed by Felix Energy at a weighted average price of $57.87 in conjunction with the close of the acquisition. On a pro-forma basis, WPX plans to invest $1,675-$1,800 million in total development capital this year, including $50-$75 million for midstream opportunities."

16:23 EST Haverty Furniture announces $30M stock repurchase program - HAVERTYS (NYSE: HVT and HVT.A) announced that its board declared a cash dividend to be paid on the outstanding shares of the two classes of $1 par value common stock of the company at a rate of 20c per share on the common stock and 19c per share on the Class A common stock. The dividend is payable on March 27 to stockholders of record at the close of business on March 12. The board approved a new authorization under its stock repurchase program that permits the company to purchase up to $30.0M of its common stock and Class A common stock. The company has approximately $5.3M remaining for purchases under a previously approved authorization.

16:22 EST SPX Corporation announces upcoming retirement of CFO Scott Sproule - SPX Corporation announced that Scott Sproule, VP, CFO and Treasurer plans to retire in late 2020 or early 2021. The company has initiated a search for his successor. Sproule is committed to supporting a smooth transition period and remaining in his role over the course of the next year.

16:19 EST Etsy jumps 10% to $56.00 after results beat expectations

16:17 EST Retail Value closes sale of Tucson Spectrum for $84M - On February 26, 2020, Retail Value closed on the sale of Tucson Spectrum for $84.0 million. Net proceeds equal to 105% of the property's allocated loan amount were used to repay mortgage debt associated with RVI with the remaining proceeds retained as cash. Subsequent to the transaction, RVI owns interests in 14 properties located in the continental U.S. and 12 properties in Puerto Rico.

16:13 EST Noodles & Company sees FY20 comparable restaurant sales up 3%-5%

16:11 EST Fiesta Restaurant says Chuck Locke no longer with Taco Cabana - The company announced that Charles "Chuck" Locke is no longer with Taco Cabana, effective immediately. An external search for the new President of Taco Cabana is underway.

16:07 EST Etsy active buyers grew 15.9% year-over-year in Q4 - Etsy said its buyers grew 15.9% year-over-year in the fourth quarter, and active sellers grew 20.0% year-over-year, the latter accelerating for the fifth consecutive quarter. It added, "International GMS was 37% of overall GMS, and increased 26% year-over-year on a currency-neutral basis, driven by our marketing efforts and our international domestic trade route, which is GMS generated between a non-U.S. buyer and a non-U.S. seller both in the same country. Within our international domestic trade route, the United Kingdom, one of our six core markets, reached record GMS levels during the quarter."

16:06 EST Portola Pharmaceuticals sees FY20 R&D expense $105M-$120M

16:05 EST Lonestar Resources announces Eagle Ford shale joint development pact - Lonestar Resources announced that it has entered into a Joint Development Agreement in Gonzales County with one of the largest producers in the Eagle Ford Shale which encompasses an Area of Mutual Interest totaling approximately 15,000 acres. The agreement calls for Lonestar to operate a minimum of 3 to 4 Eagle Ford Shale wells annually on behalf of the two companies through 2022 that are intended to hold-by-production approximately 6,000 gross acres within the AMI. The agreement gives Lonestar's partner the option to participate in each well with a 50% WI or to participate via a carried working interest that ranges from approximately 9-17%, depending on location. The JDA, which requires lower levels of annual gross drilling activity than Lonestar has engaged in on its own since becoming active in Gonzales County in 2016, provides significant benefits for both parties.

16:04 EST Y-mAbs Therapeutics announces positive Pre-BLA meeting with FDA - Y-mAbs Therapeutics announced that it has completed a positive Type B Pre-Biologics License Application, or Pre-BLA, meeting with the FDA regarding a potential pathway for FDA approval of omburtamab for the treatment of patients with CNS/leptomeningeal metastases from neuroblastoma. Dr. Claus Moller, CEO, said, "We are pleased to firm up the timelines for the omburtamab BLA. We expect to complete submission of the BLA for naxitamab in late March and omburtamab shortly thereafter, and this execution reflects an outstanding performance of our team. We hope to see both compounds approved by the FDA later this year."

16:03 EST Y-mAbs Therapeutics announces positive Pre-BLA meeting with FDA - Y-mAbs Therapeutics announced that it has completed a positive Type B Pre-Biologics License Application, or Pre-BLA, meeting with the FDA regarding a potential pathway for FDA approval of omburtamab for the treatment of patients with CNS/leptomeningeal metastases from neuroblastoma. Dr. Claus Moller, CEO, said, We are pleased to firm up the timelines for the omburtamab BLA. We expect to complete submission of the BLA for naxitamab in late March and omburtamab shortly thereafter, and this execution reflects an outstanding performance of our team. We hope to see both compounds approved by the FDA later this year.

15:54 EST Peloton jumps amid coronavirus fears as gym enthusiasts may stay home - Shares of fitness product maker Peloton are trading higher on Wednesday after Needham analyst Laura Martin said the outbreak of coronavirus in South Korea, Italy, and Iran may prompt U.S. consumers to avoid public spaces like gyms and work out at home. VIRUS FEARS AND HOME WORKOUTS: "With new COVID-19 hotspots in South Korea, Italy, and Iran, we believe certain U.S. consumers will be less comfortable over time going to their gym and more likely to order a PTON bike to stay home. This may drive higher unit sales and subscription revenue in 2020 than are currently in our estimates. We make no changes," Laura Martin, an analyst at the investment bank Needham & Company, wrote in a note sent to clients on Tuesday. LOCKUP EXPIRATION AND EARNINGS: Despite reporting second quarter results that beat estimates in early February, shares have fallen below the stock's $29 initial public offering price. Ahead of the lock-up expiration, on this past Monday, MKM Partners analyst Rohit Kulkarni reiterated a Neutral rating and $28 price target on Peloton, saying that he thinks almost all locked-up Peloton shares have "significant" positive returns. Kulkarni added that he thinks this might lead to incremental downside pressure on Peloton shares over the near-term, pointing to underperformance by Lyft (LYFT) and Uber (UBER) recently around the times of their respective IPO lockup expirations. PRICE ACTION: Shares of Peloton are currently up almost 7% to $29.00 per share heading into the close.

15:29 EST CEL-SCI off lows after CEO letter to shareholders - Shares of CEL-SCI, which dropped to as low as $7.20 earlier this afternoon, have rebounded somewhat and are now trading at $9.42 following a letter to shareholders from CEL-SCI CEO Geert Kersten which said that Multikine, which has been in Phase 3 trial since 2011, is likely producing "some kind of a survival benefit." Despite the uptick, shares of CEL-SCI are still down over 42% on the day, having opened at $15.76.

15:01 EST Esperion application for Nexlizet approved by FDA - The NDA submitted by Esperion for Nexlizet was approved on February 26, according to a post on the FDA website. Reference Link

14:50 EST Event, entertainment stocks lower amid coronavirus fears - Shares of event and entertainment stocks, including Six Flags (SIX), SeaWorld (SEAS), and Cedar Fair (FUN), are trading lower amid news of the spread of coronavirus. Additionally, the coronavirus outbreak has forced Disney (DIS) to temporarily shut its Shanghai and Hong Kong theme parks, according to reports. Shares of Six Flags and SeaWorld Entertainment are both down approximately 8%. Other entertainment stocks are also lower on Wednesday including Cedar Fair, Madison Square Garden (MSG), Live Nation (LYV), and Caesars (CZR).

14:42 EST Cel Sci trading halted, volatility trading pause

14:26 EST Verona Pharma trading resumes

14:15 EST Walmart and Asda respond to 'private equity partner speculation' - In a joint statement from Asda and Walmart, the two companies said: "Walmart firmly believes that an IPO is an attractive long-term objective for Asda. Asda is a great business with a clear strategy for the future and Walmart is committed to ensuring it has the resources and support it needs to deliver that strategy. Walmart has a clear international strategy around 'strong local businesses, powered by Walmart' - which involves a number of different ownership arrangements depending on the needs of its different markets. Following inbound interest Walmart and Asda can confirm that we are currently considering whether there is an opportunity for a third party to invest in Asda, alongside Walmart, in order to support and accelerate the delivery of Asda's strategy and position Asda for long term success. Together, we are in discussions with a small number of interested parties who share Walmart and Asda's commitment and passion to growing the business - and who share our values, both for our customers and colleagues. No decisions have been made and we will not be commenting further on these discussions. If or when we decide to pursue this opportunity further our first priority will be to share more detailed information with our colleagues."

13:23 EST Nokia jumps after Bloomberg says strategic options being explored - Shares of Nokia have jumped in New York trading after Bloomberg's Ed Hammond, Dinesh Nair, Myriam Balezou and Niclas Rolander reported, citing sources, that the company is working with advisers to consider potential asset sales and mergers. The network equipment maker has been under pressure due to fierce competition and its shares have lost roughly a third of their value over the past year, prompting the review of potential alternatives, according to the report. Following Bloomberg's report, Nokia shares spiked. Although they have come off their highs, the shares are up 28c, or 7%, at $4.19 at the time of this writing.

12:50 EST Google to invest over $10B in offices, data centers across U.S. in 2020 - Google CEO Sundar Pichai announced that Google will invest more than $10B in offices and data centers across the United States in 2020. Google has a presence in 26 states across the country and its new investments will be focused in 11 of them: Colorado, Georgia, Massachusetts, Nebraska, New York, Oklahoma, Ohio, Pennsylvania, Texas, Washington and California. "Everywhere we invest, we strive to create meaningful opportunities for local communities," Pichai said in a blog post. "A powerful example is our data center in Pryor, a town in Mayes County, Oklahoma. Last year, I visited Pryor to announce a $600 million investment, our fourth expansion there since 2007. It felt like the whole community came out to welcome us, from small business owners to teachers to Google employees. Pryor Mayor Larry Lees told the crowd that Google's investments have helped provide local schools with the resources they need-including the latest textbooks and STEM courses-to offer a world-class education. He talked about the small businesses we have helped train and the mentorship Googlers have provided to Pryor's students. This is exactly the kind of difference we hope to make with our new office and data center projects in 2020. These investments will create thousands of jobs-including roles within Google, construction jobs in data centers and renewable energy facilities, and opportunities in local businesses in surrounding towns and communities. This effort builds on the momentum of the $13 billion investment in communities from South Carolina to Nevada we made in 2019. Combined with other R&D investments, Google's parent company Alphabet was the largest investor in the U.S. last year, according to a report from the Progressive Policy Institute." Reference Link

12:17 EST Allakos drops as Muddy Waters says shorting stock on drug trial concerns - Shares of Allakos are lower in early afternoon trading after Muddy Waters Research tweeted that the firm is short the stock, citing "troubling concerns" in "a new, undisclosed Phase 1 study." The company had claimed "Phase 2 high dose reduced EOS 97%," leading Muddy to question in a tweet why Allakos "would test triple dose and risk adverse events if true?" The firm included a link to the consent form for a trial being run by the Mayo Clinic. Muddy said that the "new undisclosed Phase 1 Consent Form" shows 80 mg prednisone premedication prior to first infusion, "corroborating previous suspicions of heavy steroid usage in Phase 2" and "bolstering concerns of steroids as a compounding factor." The firm also said it questions AK002 patient compliance and commercial feasibility in a series of tweets revealing its short position. In afternoon trading following the short seller's tweets, Allakos shares are down $5.05, or 7.8%, to $59.62.

12:13 EST Allakos drops 8% to $59.22 after Muddy Waters announces new short position

12:06 EST Tegna, Gray Television announce advertising partnership - Tegna (TGNA) and Gray Television (GTN) jointly announced a strategic partnership in which Gray will acquire a minority ownership interest in Premion, Tegna's leading Connected TV/over-the-top advertising business. As part of this new partnership, Gray will serve as a reseller of Premion's services across all of Gray's 93 television markets. Under the terms of the agreement, Gray will resell Premion in its local television markets, and Tegna and Gray will each have the right to independently sell Premion in markets where they both operate a local television station. The sale of spot television advertising is not part of this agreement, and Gray and Tegna will continue to sell spot advertising for their respective stations without any involvement from the other party. Tegna will continue to oversee and control the Premion business.

12:01 EST Lydall falls -16.2% - Lydall is down -16.2%, or -$3.15 to $16.31.

12:01 EST Dycom falls -22.6% - Dycom is down -22.6%, or -$9.63 to $33.09.

12:00 EST B&G Foods rises 18.3% - B&G Foods is up 18.3%, or $2.34 to $15.12.

12:00 EST Inspire Medical rises 18.2% - Inspire Medical is up 18.2%, or $14.27 to $92.80.

11:44 EST Skechers collaborates with Goodyear Tire on footwear - Skechers (SKX) is building on the technology in its footwear through a new collaboration with The Goodyear Tire & Rubber Company (GT). Select styles across multiple categories for men, women and kids will utilize Goodyear rubber technology in custom Skechers outsoles. Initially launched on three running shoes from the Skechers GOrun collection, the range of styles featuring Goodyear Performance Outsoles now includes a wider assortment of running and walking sneakers and will expand through 2020 to athletic lifestyle, trail, and work footwear categories for men and women, as well as kids' styles.

11:31 EST TJX sees rival brick-and-mortar store closures as an opportunity

11:22 EST TJX sees Q1 pre-tax profit margin 9.6%-9.8% - Sees Q1 gross profit margin 28.2%-28.3%, SG&A as a percentage of sales 18.4%-18.5%. Sees tax rate of 24.8%, net interest expense $4M.

11:19 EST TJX sees FY20 pre-tax profit margin 10.2%-10.4% - Sees gross profit margin 28.3%-28.4%. Sees SG&A as a percentage of sales 18%-18.1%. Sees tax rate of 25.5%, net interest expense about $16M.

11:07 EST TJX CEO says Q1 'off to a solid start'

11:02 EST Flushing Financial receives regulatory approvals for Empire Bancorp acquisition - Flushing Financial Corporation announced that it has received all the requisite bank regulatory approvals and waivers in connection with the transactions providing for the acquisition and merger of Empire Bancorp with Flushing and the related merger of Empire National Bank, a wholly-owned subsidiary of Empire, with and into Flushing's wholly-owned bank subsidiary, Flushing Bank, with Flushing Bank as the surviving bank. The Transaction is expected to close early in the second quarter of 2020, subject to the satisfaction of customary closing conditions, including the approval of the merger by the Empire shareholders at a special meeting of shareholders scheduled to be held on February 27, 2020.

10:27 EST Brink's trading resumes

10:14 EST Brink's to acquire majority of G4S cash operations for $860M - The Brink's Company announced that it has agreed to purchase for approximately $860M the majority of the cash operations of U.K.-based G4S plc, a global security and cash management company. The G4S operations to be acquired generated pro forma 2019 revenue of approximately $800M, operating profit of approximately $85M and adjusted EBITDA of approximately $115M. The transaction adds 14 new markets to the existing Brink's footprint. It excludes the entire G4S Retail Cash Solutions business and cash operations in the U.K., South Africa and several smaller markets. The acquisition is expected to be accretive to non-GAAP earnings in 2020 and reflects a purchase multiple of approximately 7.5 times 2019 pro forma adjusted EBITDA. Management expects to achieve cost-based synergies over the next two years that would result in a post-synergy purchase multiple of approximately 6.5 times. On a fully-synergized pro forma basis, Brink's 2020 revenue would be approximately $4.6B with adjusted EBITDA of approximately $745M. The acquisition will be completed in multiple phases, with more than half of the enterprise value expected to close within 60 days. The remaining closings are expected to be completed before December 31, based on the estimated timing required to obtain necessary licenses and other approvals. The acquisition will be financed by cash and debt from the company's existing credit facility.

10:03 EST Axalta joins I-CAR's Sustaining Partner Program in North America - Axalta announced that they joined I-CAR's Sustaining Partner Program in North America, effective January 1, 2020. Axalta's participation in the program offers Refinish students more accessible and affordable training, either virtually or in-person, at any of Axalta's Learning and Development Centers, while earning platinum I-CAR credit at no charge from the accreditor. The program delivers relevant education and solutions to the industry, assisting technicians with future employment opportunities and giving them the knowledge to provide customers with safe and skillful repairs

10:00 EST Revolve Group falls -12.1% - Revolve Group is down -12.1%, or -$2.33 to $16.98.

10:00 EST Dycom falls -21.0% - Dycom is down -21.0%, or -$8.98 to $33.74.

10:00 EST B&G Foods rises 15.1% - B&G Foods is up 15.1%, or $1.93 to $14.71.

09:51 EST Sealed Air CEO buys 7,500 shares - In a regulatory filing last night, Sealed Air CEO Edward Doheny disclosed his purchase of 7,500 shares at an average price of $33.45 in a transaction valued at $250,875.

09:47 EST Toll Brothers falls -10.1% - Toll Brothers is down -10.1%, or -$4.49 to $39.80.

09:47 EST Dycom falls -16.8% - Dycom is down -16.8%, or -$7.17 to $35.55.

09:47 EST TJX rises 7.7% - TJX is up 7.7%, or $4.57 to $64.29.

09:46 EST Penumbra trading resumes

09:35 EST Qurate Retail QVC Group trading resumes

09:33 EST Lowe's sees constructive U.S. macro environment supporting growth in 2020

09:28 EST Novavax advances development of novel COVID-19 vaccine - Novavax announced progress in its efforts to develop a novel vaccine to protect against coronavirus disease COVID-19. Novavax has produced and is currently assessing multiple nanoparticle vaccine candidates in animal models prior to identifying an optimal candidate for human testing, which is expected to begin by the end of spring 2020. Novavax created the COVID-19 vaccine candidates using its proprietary recombinant protein nanoparticle technology platform to generate antigens derived from the coronavirus spike protein. Novavax expects to utilize its proprietary Matrix-M adjuvant with its COVID-19 vaccine candidate to enhance immune responses.

09:22 EST Lowe's says did not fully capitalize on demand for appliances

09:14 EST Telos Corp, BAI announce strategic alliance for critical communications - Telos Corporation announced a Strategic Alliance Agreement between the company and Brandes Associates. This agreement allows Telos and Brandes to pursue joint initiatives to provide secure organizational messaging solutions based on Telos' Automated Message Handling System, operating in conjunction with BAI's Syndeo Intelligent Gateway, to customers in the United States and in allied nations.

09:09 EST Fly Intel: Pre-market Movers - HIGHER: Alpha Pro Tech (APT), up 2% after reporting Q4 earnings and announcing as a result of a surge in customer demand resulting from the outbreak of Covid-19, overall gross margin is expected to be higher than normal in the Q1 and potentially for the rest of the year... Beyond Meat (BYND), up 5% after Starbucks (SBUX) announced that beginning March 3, the company will introduce a new Beyond Meat cheddar and egg Sandwich to its Canadian stores. UP AFTER EARNINGS: TJX (TJX), up 7%... Cars.com (CARS), up 4%... Endo (ENDP), up 4%... Office Depot (ODP), up 5%... Moderna (MRNA), up 13%. DOWN AFTER EARNINGS: Wendy's (WEN), down 2%... Fossil (FOSL), down 20%... Weibo (WB), down 7%. ALSO LOWER: Tesla (TSLA), down 2% after CNBC reported NTSB chairman Robert Sumwalt criticized Tesla at a hearing on a crash involving a Tesla Model X in autopilot mode. The Nikkei also has reported that Tesla and Panasonic (PCRFY) have decided to end their partnership in producing solar cells after years of struggling to ramp up output at the Gigafactory 2 in upstate New York... Disney (DIS), down 1% after announcing CEO Bob Iger will transition to executive chairman and Bob Chapek will be named new CEO.

09:07 EST Starbucks, PepsiCo launch RTD Nitro Cold Brew - Starbucks (SBUX) and PepsiCo (PEP) announced the launch of new ready-to-drink, or RTD, Starbucks Nitro Cold Brew. This is the latest product to join the ranks of products developed since Starbucks and PepsiCo formed the North American Coffee Partnership, or NACP, in 1994. Over the past 25+ years, the NACP has grown to more than $2B in retail sales.

09:06 EST Lowe's says November comps down 0.7%, December comps up 6.2% - Says January comps increased 2.1%. Says monthly comps "relatively balanced" after normalizing for Black Friday holiday shift, with 2.8% growth in November, 2.9% in December and 2.1% in January. Says Q4 sales softer than expected. Comments taken from Q4 earnings conference call.

09:04 EST CleanSpark announces $1.1M in contracts from recently acquired P2kLabs - CleanSpark announced that it has executed multiple contracts with long term customers which will result in excess of $1,100,000 in annual revenue. The services will be rendered by its recently acquired, wholly owned subsidiary, P2kLabs, Inc.

09:02 EST Peabody Energy, Arch Coal to continue pursuit of joint venture - Peabody (BTU) and Arch Coal (ARCH) announced that they intend to continue to pursue creation of a joint venture to strengthen coal's competitiveness with other energy sources and create substantial value for multiple stakeholders. The announcement follows a negative split decision by the U.S. Federal Trade Commission that advances the process to the legal system. Peabody and Arch intend to litigate the FTC's decision within the U.S. federal court system over the coming months. Both companies believe the FTC has incorrectly defined the market, and fails to reflect the true competitive nature of the current U.S. energy landscape. The transaction was announced in June 2019 and would combine the companies' Powder River Basin and Colorado assets. Ownership of the joint venture would be structured with Peabody owning 66.5% and Arch owning 33.5%. If consummated, the joint venture is expected to realize annual synergies of $120M over an initial 10-year period, which would benefit all stakeholders, including customers, local communities, employees, investors and multiple others. The transaction includes seven of the companies' mines, including Peabody's North Antelope Rochelle Mine and Arch's Black Thunder Mine, which share a property line of more than seven miles. Additional assets include the Caballo, Rawhide and Coal Creek mines in Wyoming along with the West Elk and Twentymile mines in Colorado.

09:00 EST Palihapitiya a 'net seller' of mega-cap tech 'FANG' stocks aside from Amazon - Social Capital CEO Chamath Palihapitiya, while appearing on CNBC, said he is a "net seller" of mega-cap tech stocks such as Facebook (FB), Netflix (NFLX) and Alphabet (GOOGL), citing regulatory risks among his reasons. The exception, he said, is Amazon (AMZN), which he would continue to accumulate.

08:52 EST Current partners with Cardtronics to offer surcharge-free access - Current is partnering with Cardtronics to give its over 800,000 members access to Cardtronics' Allpoint Network of surcharge-free ATMs. Current members can now withdraw cash at Allpoint's 55,000 ATMs worldwide without any transaction fees and make deposits at the growing network of Allpoint+ deposit-enabled machines.

08:45 EST ARIA Cybersecurity Solutions integrates with Juniper Networks - ARIA Cybersecurity Solutions, a CSPi business (CSPi), announced an integration with Juniper Networks' (JNPR) Juniper Secure Analytics Platform. This integration will provide deep network visibility, as well as the accelerated incident response needed to disrupt threats before extensive harm can be done. The ARIA Software-Defined Security (SDS) solution was engineered to work seamlessly with Juniper Networks' Security Analytics and other security tools using RESTful APIs. The ARIA SDS Packet Intelligence application feeds NetFlow metadata from every packet to Juniper Secure Analytics, including the usually overlooked internal network east-west paths. This allows Juniper Secure Analytics to obtain more complete network visibility, helping to lower the number of false positive alerts and allowing for the detection of threats as close to the initial point and time of compromise as possible. .

08:41 EST EVO Payments appoints Mark Chancy to board of directors - EVO Payments announced that Mark Chancy has been appointed to EVO's Board of Directors effective March 1, 2020. Chancy most recently served as Vice Chairman and Co-COO at SunTrust Banks.

08:40 EST Sellas Life Sciences announces follow-up Phase 1/2 data for GPS in AML - SELLAS Life Sciences Group announced final follow-up data for its Phase 1/2 study of GPS in patients with acute myeloid leukemia in second complete remission. The final data show a median overall survival of 21.0 months, at a median follow-up of 30.8 months, in patients receiving GPS therapy compared to 5.4 months in the AML CR2 patients treated with best standard care, a statistically significant difference. Final analysis also showed that GPS therapy continued to be well-tolerated throughout the study. The Company previously reported initial data from the Phase 1/2 study of GPS in AML patients in CR2 at a median follow-up of 19.3 months, showing median OS in GPS-treated patients of 16.3 months vs. 5.4 months in a patient cohort contemporaneously treated with best standard therapy. The final analysis, at a median follow-up of 30.8 months, now shows a median OS of 21 months in the GPS-treated patient cohort. SELLAS is currently enrolling patients in the ongoing Phase 3 REGAL study, a 1:1 randomized, open-label study comparing GPS monotherapy in the maintenance setting to investigators' choice best available treatment in AML patients who have achieved hematologic complete remission, with or without thrombocytopenia, after second-line antileukemic therapy and who are deemed ineligible for or unable to undergo allogeneic stem-cell transplantation. The primary endpoint is the OS from the time of study entry. Secondary endpoints include leukemia-free survival, antigen-specific T-cell immune response dynamics, measurable residual disease by multigene array, and assessments of AML clonal evolution and inflammasome molecular signatures in the tumor microenvironment in bone marrow biopsy samples. SELLAS expects an interim analysis for safety and futility in the fourth quarter of 2021.

08:38 EST LightPath regains compliance with Nasdaq minimum bid price requirements - LightPath Technologies announced that it has received a letter dated February 24 from The Nasdaq Stock Market notifying the company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The letter noted that the company's Class A common stock had a closing bid price of at least $1.00 for a minimum of ten consecutive trading days from February 7 to February 21, and the company has regained compliance with the Bid Price Rule. Accordingly, Nasdaq considers the matter closed.

08:36 EST Veru initiates Phase 2 clinical trial of VERU-111 - Veru announced that it has initiated the Phase 2 portion of its ongoing Phase 1b/2 clinical trial for VERU-111, its first-in-class, oral, selective antitubulin proprietary drug for metastatic castration and novel androgen blocking agent resistant prostate cancer. The open label, single arm, Phase 2 clinical trial will evaluate the efficacy and safety of VERU-111 in 39 mCRPC patients who have become resistant to a secondary novel androgen blocking agent. Enrolled men will receive 63 mg of VERU-111 per day, the dose that was selected based on the Phase 1b portion of the study conducted in 39 men. Dose increases of VERU-111 up to a dose of 72 mg will be allowed in the study. In the Phase 1b study, VERU-111 was well tolerated with no reports of neurotoxicity, hypersensitivity reactions and febrile neutropenia which are side effects common to intravenous taxane chemotherapy. The key efficacy endpoints of the Phase 2 study are radiographic imaging of progression-free survival and prostate-specific antigen reductions. Patients will continue to receive VERU-111 until radiographic evidence of prostate cancer progression is observed.

08:35 EST Seelos Therapeutics announces interim data from Phase 1 studies of SLS-002 - Seelos Therapeutics announced additional interim data from its Phase I pharmacokinetic/pharmacodynamic studies of Intranasal Racemic Ketamine. Interim data disclosed here includes all 42 subjects from study SLS-002-101 and 38 out of 62 subjects from study SLS-002-102. Interim data from both studies has demonstrated that doses of 30mg, 60mg, 75mg and 90mg of SLS-002 have been generally safe and well-tolerated. Some of the key highlights of the interim safety findings from these 80 subjects include: There have been no discontinuations due to drug related adverse events. There have been no serious adverse events. The vast majority of AEs have been mild or moderate, have been transient in nature and have not revealed any new or unique safety signals. Only 5 out of 80 subjects have experienced severe AEs that were transient in nature, consistent with the known profile of the drug, and all AEs resolved without medical intervention. Additional data from the Phase I studies is expected to be released late in the first quarter and early in the second quarter of 2020.

08:33 EST Stryker extends cash tender offer for shares of Wright Medical - Stryker (SYK) announced that Stryker B.V., an indirect, wholly owned subsidiary of Stryker, has extended the offering period of its previously announced cash tender offer for all outstanding ordinary shares of Wright Medical Group (WMGI). The tender offer is being made pursuant to the purchase agreement, dated November 4, 2019, among Stryker, Stryker B.V. and Wright Medical. The tender offer is now scheduled to expire at 5:00 p.m., Eastern Time, on April 30, 2020, unless the tender offer is further extended or earlier terminated in accordance with the purchase agreement. American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Stryker B.V. that as of 5:00 p.m., Eastern Time, on February 25, 2020, the last business day prior to the announcement of the extension of the offer, 17,446,435 Wright Medical ordinary shares, representing approximately 13.6% of the outstanding Wright Medical ordinary shares, have been validly tendered pursuant to the tender offer and not properly withdrawn. Shareholders who have already tendered their Wright Medical ordinary shares do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer. Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO filed by Stryker B.V. with the U.S. Securities and Exchange Commission on December 13, 2019, as amended. The tender offer will continue to be extended until all conditions are satisfied or waived, or until the tender offer is terminated, in either case pursuant to the terms of the purchase agreement and as described in the Schedule TO.

08:32 EST Cigna appoints Kristen Lauria as Global Chief Marketing Officer - Cigna has named Kristen Lauria, Global Chief Marketing Officer, effective March 23. Lauria comes to Cigna from IBM, where she served in a series of business and marketing leadership roles over the past 17 years. Prior to IBM, she held technical and corporate development roles at Xerox Corporation and Akamai Technologies.

08:27 EST VERB Technology surpasses 1M app users globally - VERB Technology Company announced that it has officially surpassed one million provisioned users for its interactive video-based CRM platform. The increase to one million users amounts to nearly double the total user count compared to the same period last year.

08:24 EST Kratos Defense selected by Northrop Grumman to support Air Force GBSD Program - Kratos Defense & Security Solutions (KTOS) announced that its Command, Control, Communications, Computing, Combat & Intelligence, Surveillance and Reconnaissance Division has been selected by Northrop Grumman (NOC) to support the U.S. Air Force's Ground Based Strategic Deterrent program. For the program, Kratos will provide vehicle transporters, including highly complex missile transporters and payload transporters, and will play a key role in supporting the U.S. Air Force's efforts to replace the legacy Minuteman III intercontinental ballistic missile weapon system.

08:20 EST Alkaline Water says A88 waters receive commitments from over 10,000 stores - The Alkaline Water Company announced that its A88 flavor-infused water has received firm commitments from over 10,000 stores nationwide.

08:19 EST Generex provides clarification on stock dividends - Generex Biotechnology clarified certain information regarding its stock dividends consisting of two shares of Generex stock for every five shares held, and two shares of NuGenerex Immuno-Oncology for every five shares of Generex. These are two separate dividends. Information in our previous press release discussing the ex-dividend date and ramifications of the ex-dividend date apply only to the dividend of Generex shares. There is no Ex-Dividend Date for the NuGenerex Immuno-Oncology shares because those shares do not trade. The payment date for the NuGenerex Immuno-Oncology shares was February 24, and the market effective date is today.

08:17 EST Veeva announces advancement of antitrust lawsuit against Iqvia - Veeva Systems (VEEV) announced it is gaining customer support for its antitrust lawsuit against Iqvia (IQV). Six pharmaceutical companies were among more than 70 depositions gathered as part of the fact discovery phase of the case. As its initial lawsuit advances, Veeva filed a motion this week to expand its legal action to include additional Veeva software applications that Iqvia is excluding customers from using with Iqvia data. Veeva said, "IQVIA has a long history of abusing its monopoly position to limit customers and competition. Since 2014, IQVIA has prevented companies from using OneKey reference data with Veeva's master data management software, Veeva Network Customer Master. Over the past two years, IQVIA also began restricting the use of all IQVIA data with Veeva Nitro, a next-generation commercial data warehouse, Veeva Andi, an artificial intelligence (AI) application, and other Veeva software applications. After three years of trying to work with IQVIA in good faith toward a resolution regarding Veeva's master data management software to no avail, Veeva filed its first antitrust lawsuit in 2017 to end IQVIA's long history of anti-competitive behavior. IQVIA's motion to dismiss that case failed and fact discovery is now substantially complete. Trial is expected to take place in late 2021. Veeva filed a second antitrust lawsuit in 2019 to address IQVIA's continued abusive restrictions on customers, this time with Veeva's commercial data warehouse product. Now Veeva is expanding the scope of this lawsuit to cover the ever-increasing list of Veeva software applications that IQVIA is preventing customers from using, including Veeva's AI product."

08:16 EST Palihapitiya says 'just as emotionally invested' in Virgin Galactic as in Tesla - Chamath Palihapitiya, a noted and vocal bull on Tesla (TSLA), said "we were right, the shorts were wrong." Palihapitiya added that he is "just as emotionally invested" in Virgin Galactic (SPCE) as he is in Tesla. Palihapitiya, Social Capital's CEO, continues his co-hosting appearance on CNBC.

08:15 EST Meridian Bioscience launches Air-Dryable qPCR Mix - Meridian Bioscience introduced its Air-Dryable qPCR Mix. This specialized master mix offers a cost-effective and easier alternative to freeze-drying for ambient temperature stable real-time PCR assays. Meridian's Air-Dryable qPCR Mix has been designed to simplify assay development and workflow through a magnesium containing formulation allowing air or oven drying protocols. Incorporation of the Air-Dryable qPCR mix in MDx assays allows dry down and test stability at ambient temperature, removing the need for cold chain shipping and storage. The Meridian Air-Dryable qPCR Mix shows exceptionally high performance in multiplex reactions following rehydration, making it ideally suited for automated high-throughput platforms.

08:12 EST Unisys announces several key public sector contract wins - The Unisys contracts announced are as follows: A U.S. state government signed a contract with the company for an integrated security framework and related disaster recovery services as well as to continue to provide private hybrid cloud services. The two-year contract is worth approximately $144M, supporting government initiatives to provide mission-critical systems and data to state agencies and citizens. The contract was awarded in the fourth quarter of 2019. Unisys expanded its relationship with an Australian state government agency to move much larger workloads than originally anticipated away from the client's on-premise data center into Unisys-managed hybrid cloud environments. The contract was awarded in the fourth quarter of 2019. A contract with the European Fisheries Control Agency for a range of secure IT services. EFCA is a European Union agency established to assist EU member states in complying with the rules of the Common Fisheries Policy - a set of rules that ensure the sustainability of fishing resources in Europe. Unisys will provide services in support of EFCA's operational information systems and secure access to the tools needed for coordination and cooperation among national control and inspection activities. The contract was awarded in the third quarter of 2019. Unisys signed a new three-year contract with the Department of Transportation for a state government in Brazil responsible for vehicle and driver licensing. Under the agreement, Unisys will provide ClearPath Software Series Technology, executing on a Virtual Server Farm provided by the client, including ePortal and ClearPath Forward services for application modernization. The contract was awarded in the fourth quarter of 2019.

08:11 EST Palihapitiya says he really believes in Virgin Galactic - Social Capital CEO Chamath Palihapitiya is speaking on CNBC.

08:08 EST Trevali Mining announces drill results from Rosh Pinah exploration program - Trevali Mining announces results from the 2019 exploration program at Rosh Pinah with a high grade extension to WF3 identified to the South. Highlights: Exploration hole U3373 intersected 19.99 metres at 7.2% Zn, 1.8% Pb including 3 metres at 14.2% Zn & 57.81m at 9.2% Zn 3.3% Pb 43.4g/t Ag including 30.44 metres at 12.7% Zn, 5% Pb & 72.6g/t Ag. Exploration hole U3372 intersected 38.77 metres at 9.5% Zn, 2.3% Pb, 12.8g/t Ag including 9.15 metres at 15.4% Zn, 5.2% Pb, 28.2g/t Ag. Infill hole U3351 intersected 32.05 metres at 8.9% Zn, 0.7% Pb, 10.65g/t Ag including 6 metres at 15.9% Zn, 0.6% Pb, 10.8g/t Ag & 44.75 metres at 11.19% Zn, 0.46% Pb, 1% Cu, 14.7g/t Ag including 15.5m at 14.51% Zn, 0.9% Pb, 17g/t Ag & 43.85 metres at 9.95% Zn, 0.9% Pb, 8.2g/t Ag including 7.45 metres at 20.62% Zn, 0.3% Pb, 11.8g/t Ag. During 2019, the exploration team has focused on fully exploiting the wealth of historic data accumulated over 50 years of continuous mining, including by identifying in-mine targets that were previously sporadically explored. Continued system analysis and structural reinterpretation is helping to improve the understanding of the Rosh Pinah mineralizing system and assist with targeting. The Rosh Pinah mineralisation was long thought to be hosted exclusively along a single horizon; however by challenging these perceptions, new opportunities are being identified. The Western Orefield 3, the largest single zone within the Rosh Pinah mine, was previously considered closed along strike to the South East. Following structural reinterpretation, drillholes U3372 & U3373 were drilled to the SE of existing resources, intersecting multiple zones of polymetallic mineralisation. U3373 returned 57.81m at 9.2% Zn 3.3% Pb 43.4g/t Ag including 30.44 metres at 12.7% Zn, 5% Pb & 72.6g/t Ag. This broad zone of high grade mineralisation was hosted within barite and carbonated ore, a favorable mineralization style for the plant characterized by high recoveries. This zone is located at the contact between an arkose and a limestone horizon with significant barite and carbonate replacement. The Zn mineralisation is characterized by white-yellow colored Sphalerite generally observed at the high grade Eastern and Southern Orefields, the highest-grade mineralized zones within the Rosh Pinah mine, but rarely observed within the Western Orefield orebodies. Exploration hole U3372 intersected 38.77 metres at 9.5% Zn, 2.3% Pb, 12.8g/t Ag including 9.15 metres at 15.4% Zn, 5.2% Pb, 28.2g/t Ag. These holes are thought to have intersected mineralisation within the hinge portion of a synform fold. Structural remobilization is an important control on the Rosh Pinah mineralization with folds noses and hinges being associated with high grade zones. These holes demonstrate that there is great potential for new high grade, polymetallic tonnes at Rosh Pinah. This newly identified high grade zone remains open to the South East and North West and will be the major target for 2020 Q1. During 2019, several priority in-mine exploration targets were identified which are being reassessed by relogging and structural analysis. This Southern extension to WF3 was the first of the in-mine targets to be tested.

08:05 EST GrubHub launches new membership service called 'Grubhub+' - Grubhub launched Grubhub+, a new membership program loaded with rewards. Grubhub+ goes above and beyond other subscription programs with member benefits like 10% Cashback and donation matching to high impact organizations like No Kid Hungry. Grubhub+ membership features industry leading benefits at launch, including: Unlimited free delivery: from Grubhub+ restaurants, including many popular brands; Unlimited 10% Cashback: on dollars spent on Grubhub+ restaurants - Grubhub+ literally pays for itself if you order more than $100 in food per month; Double donations: donation matching on Donate the Change for Grubhub+ orders, to drive twice the impact for worthy charities; VIP access: access to Elite Care teams for priority assistance; First dibs: exclusive access to new Perks, local events, and experiences.

08:03 EST Etsy introduces new advertising service called 'Offsite Ads' - Etsy announced that it is evolving its advertising offering to help sellers more effectively drive traffic to their listings. Etsy is introducing a new advertising service, called Offsite Ads. Etsy will pay the upfront costs to promote sellers' listings on multiple internet platforms without any upfront costs for sellers. When a shopper clicks on an online offsite ad featuring a seller's listing and purchases from their shop, the seller will pay Etsy an advertising fee on that order - only when they make a sale. The Etsy Ads service will now be a dedicated on-site advertising program for sellers to promote their listings to shoppers on Etsy.

08:00 EST Menlo Therapeutics announces results from Phase 2 trial for serlopitant - Menlo Therapeutics announced results from its Phase 2 clinical trial evaluating the safety and efficacy of once daily oral serlopitant for the treatment of chronic pruritus of unknown origin. The trial, which included 233 patients, did not meet its primary endpoint to show a statistically significant reduction in pruritus in patients treated with serlopitant compared to placebo based upon a 4-point improvement responder analysis. In the trial, 37.9% of patients in the serlopitant group achieved a 4-point or greater improvement on the worst-itch numeric rating scale, or WI-NRS, at week 10 compared to baseline versus 39.3% of patients treated with placebo. There were no meaningful differences observed between the serlopitant and placebo groups in the prospectively-defined secondary endpoints. The Phase 2 multicenter, placebo-controlled double-blind clinical trial enrolled 233 patients with self-reported CPUO, who experienced pruritus for at least six months prior to enrollment with no identified underlying cause for the pruritus. This trial compared treatment with serlopitant versus placebo for 10 weeks. Serlopitant was well-tolerated. The frequency of treatment-emergent adverse events assessed as likely related to treatment were 10.3% in the serlopitant group versus 2.6% in the placebo group. The most frequently reported adverse events in the serlopitant group were diarrhea, somnolence, fatigue and headache. The most frequently reported adverse events in the placebo group were gastroesophageal reflux disease and arthralgia. Two serlopitant-treated subjects reported a total of three serious adverse events which were deemed to not be related to study drug. To date, serlopitant has been administered to over 2,000 individuals, including patients who have received treatment for up to one year. Results from the company's Phase 3 trials for the treatment of pruritus associated with prurigo nodularis are expected in March or April of this year.

07:57 EST InflaRx announces initial data from Phase IIa open label study with IFX-1 - InflaRx announces initial data from the first 5 patients in the Phase IIa open label study with IFX-1 in patients suffering from Pyoderma Gangraenosum. PG is a rare and debilitating neutrophil-driven, autoinflammatory skin disease, characterized by an acute, destructive ulcerating process of the skin, primarily occurring on the legs but also other regions of the body. The exact prevalence of PG is not yet known, but it is estimated that up to 50,000 patients in the US and Europe are affected by this disease. There are currently no FDA approved therapies for the treatment of PG. Patients in this first dosing group are being treated with 800mg of IFX-1 biweekly for 12 weeks after an initial run-in phase with three doses of 800mg on day 1, 4 and 8 of the study, with a three-month observational period. The main objectives of the study are the evaluation of the safety and efficacy of IFX-1 in patients with PG. Efficacy is being evaluated by a responder rate defined as Physician Global Assessment less than or equal to3 of the target ulcer at various timepoints and time to complete closure of the target ulcer. Out of the first 5 initial patients dosed with IFX-1, 2 patients achieved complete closure of the target ulcer. One patient completed the treatment period demonstrating a full healing of the disease, including all other affected areas. This patient continues to remain disease free approximately 2 months after being taken off IFX-1 therapy. The second patient had almost complete healing of all other PG affected areas except for one minimal opening. This patient is close to completion of therapy. Both patients in remission had previously failed to respond to different therapeutic treatment attempts, including high dose glucocorticoids, and both patients showed elevated C5a levels in plasma at baseline. An additional patient who completed the study showed initial wound healing activity in the first 2-3 weeks of treatment, but no wound size decrease or closure was detected. The remaining 2 patients who are still under treatment have severe disease, including very large and extensive ulcers. Both patients did not show a healing response but are eligible for a dose escalation. Pharmacodynamic analysis of the C5a levels over time of treatment indicated that a dose escalation may provide better control over C5a levels throughout the treatment period. The drug was well tolerated and no drug-related severe adverse events have been recorded to date in the study. The Phase IIa open label study will continue to enroll patients with two approved additional dose escalation schemes in a sequential manner. The targeted patient number for enrollment is expected to be 18.

07:55 EST WeedMD's Starseed signs Insulators Local 95 Fund to medicinal cannabis program - WeedMD announcef that its subsidiary Starseed Medicinal is now the preferred supplier of medical cannabis to the Insulators Local 95 Health & Welfare Trust Fund. The agreement provides union members and their dependents access to medical cannabis as an insured benefit with no co-pay or out-of-pocket costs.

07:52 EST Unisys selected by European Fisheries Control Agency for IT services - Unisys is partnering with the European Fisheries Control Agency, EFCA, for a range of secure IT services. EFCA is a European Union agency established to assist EU member states in complying with the rules of the Common Fisheries Policy - a set of rules that ensure the sustainability of fishing resources in Europe. Unisys will provide services in support of EFCA's operational information systems and secure access to the tools needed for coordination and cooperation among national control and inspection activities.

07:51 EST Momenta says CSL plans to introduce M230 Phase 1 program this year - M230: a recombinant Fc multimer being developed in collaboration with CSL: A Phase 1 clinical program to evaluate the safety and tolerability of M230 in healthy volunteers is continuing. Momenta's partner, CSL, plans to introduce a subcutaneous formulation into the Phase 1 program this year.

07:49 EST Momenta expects to launch Phase 2 study of M254 in 4Q20 - M254: a hypersialylated immunoglobulin designed as a high potency alternative for intravenous immunoglobulin. The Company's multi-part Phase 1/2 clinical trial in idiopathic thrombocytopenic purpura is progressing through Part B, which is evaluating M254 compared to IVIg in a single ascending dose cohort of ITP patients. In January 2020, Momenta announced interim results, featuring early favorable responses to M254. Based on these data, the Company is expanding Part B to include at least one additional lower dose cohort and to augment the number of patients in existing cohorts. Enrollment for the study is ongoing, with additional data from Part B to be submitted for presentation at a medical conference in the second quarter of 2020. The Company plans to launch a Phase 2 study of M254 in chronic inflammatory demyelinating polyneuropathy (CIDP) in the fourth quarter of 2020.

07:47 EST Jacobs selected by USACE Environmental Quality Program - Jacobs was selected by the U.S. Army Corps of Engineers, South Atlantic Division, Mobile District to deliver architect and engineering services for its Environmental Quality Program. The multiple award task order contract will support military, civil and federal agencies such as the U.S. Army, Air Force, Marine Corps and Navy, Defense Logistics Agency and other Department of Defense installations within the Mobile District's Area of Responsibility and South Atlantic Division's AOR. Jacobs will provide services for all products and studies associated with complex environmental compliance, planning, pollution prevention, conservation/National Environmental Policy Act, restoration/remediation design and miscellaneous sustainment projects.

07:45 EST Emerald Health's Pure Sunfarms makes first cannabis shipment to Alberta - Emerald Health Therapeutics announced that its 50%-owned joint venture for large-scale, low-cost, quality cannabis production, Pure Sunfarms has completed its first shipment of cannabis under its supply agreement with Alberta Gaming, Liquor & Cannabis. Pure Sunfarms' recreational adult-use cannabis products will be available on Alberta's only legal online store in the first week of March and can be purchased by the province's licensed private sector retailers. The AGLC is the wholesaler to private retailers and the only authorized online retailer in Alberta.

07:44 EST CareDx announces publication on AlloSure's ability on ambiguous rejections - CareDx announces that the American Journal of Transplantation published data on AlloSure's ability to differentiate ambiguous rejections, titled "High levels of dd-cfDNA identifies patients with TCMR 1A and borderline allograft rejection at elevated risk of graft injury." This landmark study, with 11 leading transplant centers, demonstrates that AlloSure is the only dd-cfDNA test that can discriminate clinical relevance of T-cell mediated rejection 1A or borderline biopsies. Currently, there is a lack of consensus on the impact of a TCMR 1A or borderline rejection diagnosis, and significant issues in interobserver pathology assessment. All patients in the study were diagnosed with TCMR 1A or borderline rejection. Those patients with AlloSure scores greater than 0.5% went on to have declining eGFR, a signal of deteriorating graft function and lower prediction of survival. However, those patients with AlloSure scores below 0.5% had almost no change in eGFR. The AJT publication illustrates how AlloSure can risk stratify the population with ambiguous rejections and enable personalized care for transplant patients.

07:37 EST RTW Retailwinds announces multi-year partnership with Salesforce - RTW Retailwinds (RTW) announced that Salesforce (CRM) will be its new digital ecommerce platform partner for all businesses, including New York & Company, Fashion to Figure, and Happy x Nature. "The move aims to optimize the user experience and provide seamless and personalized content across all channels, while improving conversion and increasing sales, for each fashion brand within the RTW portfolio on Salesforce. RTW has commissioned Salesforce Commerce Cloud, a best-in-class, cloud-based solution with a proven track record in accelerating clients' sales and customers' online experiences, to rebuild all of its websites." This shift is expected to increase key metrics, including conversion, basket size and average dollars per sale. This data-driven approach is also expected to increase the effectiveness of promotional offers to maximize sales and margins across all of the company's retail platforms. The company is working on an accelerated timeline to bring fully relaunched websites online by Fall 2020. Upon implementing this new ecommerce platform, customers can expect an elevated journey through artificial intelligence, optimized content, more relevant promotions and real-time communications from each RTW brand.

07:36 EST Kiniksa expects cash reserves to fund operating plan into 2H21 - Kiniksa expects that its cash, cash equivalents and short-term investments will fund its operating plan into the second half of 2021.

07:35 EST Kiniksa expects topline data from Phase 1 trial of KPL-404 in 2H20 - KPL-404: Kiniksa is enrolling a single-ascending-dose Phase 1 clinical trial of KPL-404 in healthy volunteers. The first-in-human trial will provide safety data and pharmacokinetics as well as receptor occupancy and T-cell Dependent Antibody Response. Top-line data are expected in the second half of 2020.

07:34 EST Kiniksa expects topline data from Phase 2 PoC trial of mavrilimumab in 2H20 - Mavrilimumab: Kiniksa (KNSA) is evaluating mavrilimumab for the potential treatment of giant cell arteritis, a chronic inflammatory disease of medium-to-large arteries. Kiniksa expects top-line data from a global Phase 2 proof-of-concept trial of mavrilimumab in patients with GCA in the second half of 2020. Kiniksa and Kite, a Gilead company (GILD), recently announced a clinical collaboration evaluating the investigational combination of axicabtagene ciloleucel and mavrilimumab in relapsed or refractory large B-cell lymphoma. The objective of the trial is to determine the effect of mavrilimumab on the safety of axicabtagene ciloleucel. Preclinical evidence shows the potential for interruption of granulocyte macrophage colony stimulating factor signaling to disrupt chimeric antigen receptor T cell-mediated inflammation without disrupting anti-tumor efficacy. The Phase 2 trial is expected to commence in the second half of 2020.

07:29 EST Harsco appoints David Stanton as president of Clean Earth division - Harsco Corporation announced the appointment of David Stanton as President of its Clean Earth division, effective March 2. In this role, Mr. Stanton will be responsible for leading the Company's newly acquired Clean Earth division, one of the leading specialty waste companies in the United States. Additionally, he will lead the eventual combining of Stericycle's Environmental Solutions business with Clean Earth, pending regulatory approvals and upon closing. Earlier this month, Harsco entered into a definitive agreement to purchase ESOL from Stericycle. He served most recently as President of SUEZ's Utility business.

07:27 EST Tonix, Southern Research announce collaboration for coronavirus vaccine - Tonix Pharmaceuticals announced a strategic collaboration with Southern Research to support the development of a vaccine, TNX-1800 to protect against the new coronavirus disease, COVID-19, based on Tonix's proprietary horsepox vaccine platform. Tonix is developing TNX-801 as a potential smallpox preventing vaccine for the U.S. strategic national stockpile and as a monkeypox preventing vaccine. The Company believes that its proprietary horsepox virus has the potential to serve as a vector for vaccines to protect against other infectious agents. The new research collaboration will develop and test a potential horsepox vaccine that expresses protein from the virus that causes COVID to protect against the disease. There are currently no vaccines to protect against COVID-19. The virus that causes COVID-19 is called SARS-CoV-2 and is reportedly highly contagious. COVID-19 is associated with a significant rate of mortality. Under the terms of the research collaboration, Southern Research will test one or more vaccine constructs in the Tonix horsepox vector that express one or more proteins or protein fragments from the virus that causes COVID-19. The first such potential vaccine is TNX-1800. The collaboration seeks to leverage Tonix's horsepox vaccine technology that was originally developed to protect against smallpox but has capabilities as a vector for other infectious diseases. Tonix has previously reported that horsepox has efficacy as a vaccine and good tolerability in mice1 and cynomolgus macaques. Horsepox is closely related to vaccinia vaccines, which are a group of orthopoxviruses that have been used as smallpox vaccines.

07:25 EST Menlo Therapeutics Inc trading halted, news pending

07:23 EST ProQR Therapeutics expects to advance QR-504a to clinical development in 2020 - QR-504a for Fuchs Endothelial Corneal Dystrophy: The Company expects to advance QR-504a for FECD to clinical development in 2020. The most common genetic cause for FECD occurs in the TCF4 gene causing FECD type 3. The Phase 1 trial is planned to be an open label, single-dose, dose escalation, exploratory study to evaluate safety, tolerability, and molecular biomarker in corneal endothelium following a single intravitreal injection in patients with FECD3 scheduled for corneal transplant.

07:22 EST ProQR Therapeutics expects interim data from Phase 2/2 Stellar trial in 1Q20 - QR-421a for Usher syndrome type 2: The Phase 1/2 Stellar trial of QR-421a in patients with Usher syndrome type 2 is ongoing and on track to deliver interim data in late Q1 2020. Received Rare Pediatric Disease designation and Fast Track designation from the FDA.

07:20 EST Summit Therapeutics appoints Robert Duggan as executive chairman - Summit Therapeutics announces it has appointed Robert Duggan as Executive Chairman of the Board of Directors with immediate effect. Glyn Edwards will continue as an Executive Director and CEO. Duggan is currently the CEO of Duggan Investment.

07:18 EST Wendy's board approves new $100M share repurchase program - The company's Board of Directors has approved a new $100M share repurchase authorization, expiring on February 28, 2021.

07:16 EST Momenta sees 2020 non-GAAP operating expenses $220M-$240M - Non-GAAP operating expense is total operating expenses, less stock-based compensation expense, restructuring expense and collaborative reimbursement revenues. Momenta is providing full-year non-GAAP operating expense guidance of $220 - $240 million for 2020.

07:13 EST Novanta authorizes share repurchase program of up to $50M - Novanta has authorized a new share repurchase program under which the company may repurchase up to $50M worth of its common shares. The new program will commence after Novanta completes an existing $25M share repurchase program, of which approximately $13.3M remains available for future share repurchases.

07:09 EST Wendy's sees FY20 adjusted EBITDA approximately $425M-$435M - Sees FY20: Cash flows from operations of approximately $285M-$295M, including the impact of the settlement of the Financial Institutions case. Excluding the impact of the settlement, the company expects cash flows from operations of approximately $305M-$315M. Capital expenditures of approximately $75M. Free cash flow of approximately $230M-$240M, excluding the approximately $20 million tax-effected impact from the settlement of the Financial Institutions case, which was finalized in January 2020. Including the impact of the settlement, the company expects free cash flow of approximately $210M-$220M.

07:05 EST Wendy's reports Q4 No. America same-restaurant sales growth 4.3%

06:58 EST Danone announces EUR2B climate acceleration plan - Danone announced a EUR2B climate acceleration plan, which it says that "in the next three years will further transform our agriculture, energy and operations, packaging, and digital capabilities so that we will leverage fully our climate action to generate resilient growth models for our brands."

06:53 EST Assured Guaranty raises quarterly dividend 11% to 20c from 18c per share - The dividend is payable on March 25 to shareholders of record at the close of business on March 11.

06:37 EST Bayer says Norbert Winkeljohann to succeed Wener Wenning as chairman - Prof. Dr. Norbert Winkeljohann is to become Chairman of the Supervisory Board of Bayer AG. As decided at a Supervisory Board meeting, Winkeljohann will succeed Werner Wenning who is to step down with effect from the end of the Annual Stockholders' Meeting on April 28, 2020. Winkeljohann served as Chairman of the Board of Management of PricewaterhouseCoopers Europe SE until June 2018 and has been a member of Bayer's Supervisory Board since May 2018. The shareholder representative seat on the Supervisory Board that would become vacant is set to be taken by former TUI Group CFO Horst Baier. The Supervisory Board decided to make a proposal to this effect to the Annual Stockholders' Meeting. If elected, Baier is set to replace Winkeljohann as Chairman of the Audit Committee. Wenning has been Chairman of the Supervisory Board since 2012 and had been elected to serve until 2022. "I had originally been intending to step down last year when I reached the standard age limit set forth in the Supervisory Board's rules of procedure," Wenning said. However, in view of the company's situation at that time, the Supervisory Board had asked him to stay on, he explained. "Given my long-standing affiliation with this company, I was happy to do so," Wenning said. Even before his recent decision to step down, the Nominations Committee had been dealing with the matter of succession planning for some time and had identified Winkeljohann as a candidate, he noted.

06:24 EST Royal Caribbean sees 90c impact to 2020 EPS from coronavirus outbreak - In a regulatory filing, Royal Caribbean said "The widely reported coronavirus outbreak and efforts by China and other countries to move aggressively to contain the spread of the disease have adversely impacted our business, including a drop in demand for cruises, guest cancellations, travel restrictions, an unavailability of ports and/or destinations, cruise cancellations, ship redeployments and an inability to source our crew, provisions or supplies from certain places. We have implemented several measures to protect guest and crew, including denying boarding to those that have traveled from, to or through mainland China or Hong Kong in the past 15 days and performing mandatory specialized health screenings on at-risk guest and crew. These measures have caused us to cancel cruise bookings or restrict certain guests from booking our cruises. We are assessing the developments constantly and will update our protective measures as needed. As a result of these measures, we have now cancelled 30 sailings in Southeast Asia and modified several itineraries in the region which overall have an estimated impact of 90c per share to our 2020 financial performance. If the company were to cancel all of its remaining sailings in Asia through the end of April, it would impact our 2020 financial performance by an additional 30c." The company added that "There are still too many variables and uncertainties regarding the impact of this outbreak on our business in Asia and elsewhere to reasonably forecast the full impact on our business, including what our yields and earnings for 2020 will be. These concerns and restrictions over the outbreak are impacting our bookings and are having, and are likely to continue to have, a material impact on our overall financial performance."

06:15 EST Barnwell Industries provides update on operations - Barnwell Industries provided an update on recent developments with respect to its businesses and operations. CEO Alexander Kinzler commented, "The results we recently released for our Q1 showed a 90% improved bottom line, operating profits in our oil and gas and water well company divisions and demonstrate our continued progress in implementing our plans to increase production and revenues. Just prior to the end of FY19, we participated with a 28.3% interest in a horizontal well in the Spirit River area of Alberta. This well commenced drilling in late September 2019, came on production in mid-November 2019 and has proven to be one of the best wells drilled in Alberta in the past year and, thus far, one of the most productive wells that Barnwell has been part of in its history. In only 3 months, this well has produced over 65,000 barrels of oil and 160,000 Mcf of natural gas, of which Barnwell's share was 18,000 barrels and 45,000 Mcf, respectively. Based upon the current production rate and trend, we expect to achieve payout on the capital invested in this well in Q2. (...) In August 2018, we acquired a significant asset base in the Twining field in Central Alberta. (...) We feel that there is significant oil to be recovered at Twining through modern horizontal drilling and multi-stage fracing techniques. (...) We drilled our first operated horizontal well in Twining in Q1 - Barnwell has 100% interest in the well -, completed it with 26 frac stages and connected it for production. Oil and gas production rates have been steadily increasing as the load water is recovered, and we are currently producing about 70 Boe/d net to Barnwell. (...) The Twining acquisition and the above-mentioned drilling activities, combined with ongoing asset acquisitions, have contributed to significant positive growth in our oil and gas production over the past 2 years, with production for 4Q19 of 69,000 Boe. We also are currently marketing all of our older, non-core "legacy" properties, which includes our interest in the well in the Spirit River area of Alberta, in a brokered process. (...) It is our intention that a significant portion of any proceeds from such sales would be used to re-invest in Twining. Our Water Resources International, Inc. contracting subsidiary had an excellent FY19, and we expect that it will have an even better FY20. This improvement was primarily due to a new well drilling contract that is based on a fixed rate per day or hour (...) We expect significantly higher revenues under this contract during FY20. Additionally, the company has a backlog of drilling and pump installation and repair contracts of approximately $11M at February 1, 2020, of which $8M is expected to be realized in FY20, which may make this segment's operating profit substantially higher in FY20 as compared to FY19".

06:08 EST TuanChe sees March quarter 'materially and adversely impacted' by COVID-19 - TuanChe announced that it anticipates both financial and operating results for March 2020 and the first quarter as a whole, to be materially and adversely impacted by the COVID-19 epidemic in China. The company previously announced on January 30, that it would be suspending all offline sales events in February. This decision was made in accordance with all relevant national and local regulations on Epidemic prevention and control, designed to ensure the health and safety of customers and employees. In light of the continuously developing status of the Epidemic and the vital prioritization of containment efforts, the company is further suspending all auto shows and special promotional events previously scheduled in March, with the possibility of further reductions in offline sales events currently scheduled in the second quarter of 2020. The company continues to closely monitor both the Epidemic and subsequent mandated regulatory actions and restrictions by government authorities. Additionally, the company is proactively taking the necessary steps to further optimize its cost structure and conserve resources, as well as accelerating the development of its virtual dealership and online marketing services.

05:46 EST Jupai Holdings announces $10M share repurchase program - Jupai Holdings announced that the company's board approved a share repurchase program under which the company is authorized to repurchase its American depositary shares with an aggregate value of up to $10M over the next 24-month period.

05:30 EST Marathon Petroleum refinery in Los Angeles in flames after explosion - A Marathon Petroleum refinery in Los Angeles, California caught fire overnight. The Los Angeles Fire Department explained on Twitter, "An explosion preceded fire in a cooling tower at the Marathon Refinery. Marathon personal keeping flames in check via fixed ground monitors while they work to depressurize the system. LACOFD assisting...Marathon Refinery Safety Officer states facility perimeter monitors have reported no harmful products in the air emanating from the facility, as a result of the fire this evening...Firefighters continue to make progress reducing the size of this fire, while providing protection to exposures. Residual pressure from remaining flammable gas is still contributing to limited fire activity. Engineers continue work to isolate fuel sources."