Stockwinners Market Radar for February 27, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
NTDOY... | Hot Stocks19:26 EST ESA says 'moving full speed ahead' with E3 despite coronavirus concerns - Commenting on how the recent outbreak of coronavirus may affect this summer's Electronic Entertainment Expo, or E3, an Entertainment Software Association spokesperson provided the following statement to The Fly: "Everyone is watching the situation very closely. We will continue to be vigilant, as our first priority is the health, wellness and safety of all of our exhibitors and attendees. Given what we know at this time, we are moving ahead full speed with E3 2020 planning. Exhibit and registration sales are on track for an exciting show in June." Companies in the video game space include Nintendo (NTDOY), Sony (SNE), Microsoft (MSFT), Tencent (TCEHY), Activision Blizzard (ATVI), Electronic Arts (EA), Take-Two (TTWO), Ubisoft (UBSFY), and Capcom (CCOEY).
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SCOR... | Hot Stocks19:12 EST Fly Intel: After Hours Movers - UP AFTER EARNINGS: comScore (SCOR) up 20.5%... Farfetch (FTCH) up 15.7%... Zynex (ZYXI) up 11.6%... Southwestern Energy (SWN) up 10.0%... iCAD (ICAD) up 10.0%... NeoPhotonics (NPTN) up 10.0%... AMC Entertainment (AMC) up 8.1%... Trade Desk (TTD) up 6.2%... Nektar Therapeutics (NKTR) up 5.9%...Fortress Transportation (FTAI) up 4.0%... Workday (WDAY) up 2.5%... Live Nation (LYV) up 2.2%... OptimizeRX (OPRX) up 2.1%. ALSO HIGHER: Sangamo (SGMO) up 39.5% after entering gene regulation therapy partnership with Biogen... Forty Seven (FTSV) up 29.1% after Bloomberg speculation about approach from Gilead... Biohaven (BHVN) up 6.0% after getting FDA approval for acute treatment of migraine... Garden Denver (GDI) up 2.1% after entering S&P500 index... DOWN AFTER EARNINGS: Big Lots (BIG) down 28.3%... Gulfport Energy (GPOR) down 11.1%... Beyond Meat (BYND) down 10.0%... Sunrun (RUN) down 10.0%... Coherus BioSciences (CHRS) down 8.8%... Glaukos (GKOS) down 7.5%... Applied Optoelectronics (AAOI) down 6.8%... VMWare (VMW) down 6.0%... Eventbrite (EB) down 5.4%... Axon Enterprise (AAXN) down 4.2%... Mylan (MYL) down 3.6%... iQIYI (IQ) down 3.4%... Spectrum Pharma (SPPI) down 3.3%... Dell Technologies (DELL) down 3.3%... Cara Therapeutics (CARA) down 3.2%... Autodesk (ADSK) down 2.6%... Rigel Pharma (RIGL) down 2.5%... Pure Storage (PSTG) down 2.1%. ALSO LOWER: Bed Bath Beyond (BBBY) down 2.0% after announcing strategic restructuring and job cuts. Movers as of 18:30ET.
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KKR | Hot Stocks19:01 EST KKR, IGIS, SK D&D acquire Namsan Square an Seoul - KKR, IGIS Asset Management, and Korean real estate developer SK D&D announced their acquisition of Namsan Square, an office tower located in the central business district of Seoul, from a real estate investment trust operated by KOREIT, a domestic asset manager in Korea. The consortium plans to enhance the workspace environment by upgrading the building facade, restrooms and the retail arcade without disruption to existing tenants.
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WFC | Hot Stocks18:19 EST SEC fines Wells Fargo $35M over investment recommendation practices - The Securities and Exchange Commission announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35M penalty, which will be distributed to harmed investors. As noted in the SEC's order and reflected in Wells Fargo's internal guidance, when single-inverse ETFs are held for longer than a day, particularly in volatile markets, investors may experience large and unexpected losses. The SEC's order finds that from April 2012 through September 2019, Wells Fargo's policies and procedures were not reasonably designed to prevent and detect unsuitable recommendations of single-inverse ETFs. Further, Wells Fargo failed adequately to supervise its employees' recommendations regarding single-inverse ETFs, and did not adequately train them concerning those products. The order finds that some Wells Fargo brokers and advisers did not fully understand the risk of losses these complex products posed when held long term. As a result, certain Wells Fargo investment advisers and registered representatives made unsuitable recommendations to certain clients to buy and hold single-inverse ETFs for months or years. According to the order, a number of these clients were senior citizens and retirees who had limited incomes and net worth, and conservative or moderate risk tolerances. Reference Link
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GLD | Hot Stocks18:18 EST SPDR Gold Shares holdings fall to 934.23MT from 935.70MT - This is the 2nd consecutive decline in holdings.
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XEC... | Hot Stocks18:11 EST Gardner Denver to join S&P 500, Cimarex to join S&P MidCap 400 - Gardner Denver Holdings Inc. (GDI) will replace Cimarex Energy Co. (XEC) in the S&P 500, and Cimarex Energy will replace Chesapeake Energy Corp. (CHK) in the S&P MidCap 400 effective prior to the open of trading on Tuesday, March 3. S&P 500 constituent Ingersoll-Rand plc (IR) is spinning off its industrial segment business which will be merged with Gardner Denver Holdings. Post-spin-off, the "old" Ingersoll-Rand will change its name and ticker to Trane Technologies plc (TT), and Trane will remain in the S&P 500 with a Global Industry Classification Standard change to Building Products Sub-Industry classification. Immediately following its merger with the industrial segment business, Gardner Denver will have a name and ticker change to "new" Ingersoll Rand Inc. (IR). Cimarex Energy has a market capitalization more representative of the mid-cap market space. Chesapeake Energy is ranked near the bottom of the S&P MidCap 400 and is no longer representative of the mid-cap market space.
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LPX | Hot Stocks18:04 EST LP Building Solutions to sell East River facility and CanExel brand to Maibec - LP Building Solutions and Mailbec announced a joint agreement for Maibec's acquisition of LP's East River facility located in Nova Scotia, Canada as well as the assets and brand rights for CanExel, the fiber-based siding product manufactured there. The closing of this transaction is subject to customary closing conditions and is expected to occur in the second quarter of 2020. "LP's SmartSide strand siding business is one of the fastest-growing siding brands in the U.S.," said Executive Vice President & General Manager of Siding Neil Sherman. "This strategic decision to remove fiber products from our portfolio allows us to mobilize additional resources, increase focus and commitment for our LP SmartSide strand siding technology, and accelerate growth of LP SmartSide ExpertFinish, our new line of prefinished strand-based siding. The future for SmartSide strand is bright, and we expect great things to come."
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XRX HPQ | Hot Stocks18:02 EST HP Inc. urges shareholders to vote for all of board's 12 director nominees - HP Inc. (HPQ) said in a regulatory filing that its board recommends that shareholders use the WHITE proxy card to vote for the election of all the board's 12 director nominees. "Xerox (XRX) has notified us of its intent to nominate a slate of 11 nominees for election as Directors at the annual meeting in opposition to the nominees proposed by our Board," HP Inc. said. "Our Board does not endorse any Xerox nominee and unanimously recommends that you disregard any [Color] proxy card that may be sent to you by Xerox. Voting to "withhold" with respect to any of Xerox's nominees on its proxy card is not the same as voting FOR our Board's nominees, because a vote to "withhold" with respect to any of Xerox's nominees on its proxy card will revoke any previous proxy submitted by you, including any vote you may have made for our Board's nominees. If you have previously voted using a [Color] proxy card sent to you by Xerox, you may change your vote by voting via the Internet or by telephone by following the instructions provided on the enclosed WHITE proxy card, or by signing, dating and returning the enclosed WHITE proxy card in the postage-paid envelope provided. Only the latest validly executed proxy that you submit will be counted."
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XRX HPQ | Hot Stocks18:00 EST HP Inc. says Icahn weighed making offer to acquire company - According to a regulatory filing, HP Inc. (HPQ) said that, on August 12, 2019, Carl Icahn, the largest shareholder of Xerox (XRX), phoned Dion Weisler, HP's then-chief executive officer. Icahn communicated that he believed HP was a well-run company with a strong management team and stated that he had accumulated approximately 60 million shares of HP common stock, constituting 4.125% of HP's then-outstanding shares of common stock. Mr. Icahn further expressed his belief that there was considerable value in combining Xerox and HP, that HP should consider buying Xerox or, if not, that Mr. Icahn would consider making an offer to acquire HP and that he wanted a transaction to occur quickly. Mr. Weisler expressed that HP was always open to hearing from its shareholders and that the board of directors of HP was focused on creating shareholder value. Following the call, on August 13, 2019, Mr. Icahn sent Mr. Weisler an e-mail attaching two Xerox slides showing estimated synergies of $3.5 billion that a combined company could achieve with full impact in 2023. On August 22, 2019, the Company announced that Mr. Weisler had decided to step down for a family health matter and that the HP Board had unanimously appointed Mr. Lores, then head of HP's printing division, to succeed Mr. Weisler as the Company's chief executive officer effective November 1, 2019. On August 23, 2019, Mr. Bandrowczak called Mr. Lores and advised that Mr. Visentin was planning to tell Mr. Weisler that Xerox was very interested in a combination with HP at an upcoming, previously-scheduled breakfast meeting. On August 26, 2019, Mr. Icahn called Mr. Weisler and expressed that he was focused on quickly pursuing a combination of HP with Xerox and asked Mr. Weisler for his views on HP buying Xerox. Mr. Weisler expressed to Mr. Icahn that HP would require further information from Xerox in order to assess a potential acquisition and that he would follow up directly with Mr. Visentin. Later that day, Mr. Weisler sent Mr. Visentin a list of threshold questions that would need to be addressed by Xerox before HP would engage in full discussions concerning an acquisition of Xerox. On August 27, 2019, Mr. Visentin phoned Mr. Weisler and stated that Xerox was eager to combine with HP, and that he hoped that HP would include stock consideration in any offer to acquire Xerox. He also stated that he knew that Mr. Icahn had taken an ownership position in HP. Mr. Visentin advised that Xerox would provide HP with the information HP had requested.
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SLRC | Hot Stocks17:47 EST Solar Capital CEO buys 41K shares of common stock - In a regulatory filing, Solar Capital disclosed that its CEO Michael Gross bought 41K shares of common stock on February 25th-27th. The total transaction size was over $790K.
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BYND | Hot Stocks17:46 EST Beyond Meat down 8.5% after reporting Q4 earnings, giving FY20 guidance
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SMMF | Hot Stocks17:42 EST Summit Financial Group raises quarterly dividend to 17c from 15c per share - The dividend is payable on March 31, 2020 to common shareholders of record as of the close of business on March 16, 2020.
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LMT | Hot Stocks17:42 EST Lockheed Martin awarded $1.14B Army contract modification - Lockheed Martin awarded a $1.14B modification to a contract for guided multiple launch rocket systems. Work will be performed in Grand Prairie, Texas, with an estimated completion date of September 30, 2022. FY18, FY19 and FY20 procurement appropriations, Army and FY20 Foreign Military Sales funds in the combined amount of $1.14B were obligated at the time of the award. U.S. Army Contracting Command is the contracting activity.
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THS | Hot Stocks17:38 EST TreeHouse CEO Steven Oakland buys 7K shares of company stock - TreeHouse CEO Steven Oakland disclosed in a filing that he had purchased 7,000 shares of company stock at an average price of $40.46 per share between February 26 and February 27. The total transaction value of the purchase was $283,210.
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VLO | Hot Stocks17:38 EST Valero awarded $754.97M Defense Logistics Agency contract for fuel - Valero has been awarded a maximum $754.97M fixed-price with economic-price adjustment, indefinite-delivery/indefinite-quantity contract for various types of fuel. This was a competitive acquisition with four responses received. This is a one-year base contract with a 30-day carryover and four one-year option periods. Location of performance is Texas, with a March 2, 2021, performance completion date. Using customer is Army. Type of appropriation is FY20 through FY21 Army operations and maintenance funds for the Foreign Military Sales program. The contracting activity is the Defense Logistics Agency.
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FTSV | Hot Stocks17:37 EST Forty Seven jumps 23% after Bloomberg report of Gilead approach - Forty Seven (FTSV), a clinical-stage immuno-oncology company, is higher by over 23% in after-hours trading following a report by Bloomberg's Ed Hammond and Nabila Ahmed that Gilead Sciences (GILD) has approached the company with a takeover offer, and that the companies have also discussed other options, including a partnership. The report also added that Forty Seven has "received interest from other potential suitors as well," citing their source. In after-hours trading, Forty Seven is up 23.4% to $60.20, while Gilead is higher by 1.5% to $73.76.
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CWK | Hot Stocks17:34 EST Cushman & Wakefield CFO Palmer to retire from the company - According to a regulatory filing, on February 27, 2020, Cushman & Wakefield announced that its Chief Financial Officer, Duncan Palmer, would be retiring from the company on the earlier of December 31, 2020 or the appointment of his successor. In connection with Palmer's planned retirement, Palmer and the company entered into a Transition and General Release Agreement governing the terms of his separation from the company. The Transition Agreement contemplates that, following Palmer's separation from the company, Palmer will serve as a consultant to the company for a period of 12 months and will be entitled to monthly payments in an amount equal to his base salary at the time of retirement. The Transition Agreement also provides that Palmer will be entitled to a prorated performance bonus for 2020. In lieu of the grant of any equity awards in 2020, Palmer will be entitled to receive a cash payment on March 15, 2021 equal to $708,333, prorated according to his 2020 service prior to retirement.
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XEC CHK | Hot Stocks17:31 EST Cimarex Energy to replace Chesapeake in the S&P 400 at open on 3/3 - Cimarex Energy (XEC) will replace Chesapeake Energy (CHK) in the S&P MidCap 400, effective prior to the open of trading on Tuesday, March 3. Cimarex Energy has a market capitalization more representative of the mid-cap market space. Chesapeake Energy is ranked near the bottom of the S&P MidCap 400 and is no longer representative of the mid-cap market space.
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GDI... | Hot Stocks17:29 EST Gardner Denver to replace Cimarex Energy in the S&P 500 at open on 3/3 - Gardner Denver Holdings (GDI) will replace Cimarex Energy (XEC) in the S&P 500, effective prior to the open of trading on Tuesday, March 3. S&P 500 constituent Ingersoll-Rand plc (IR) is spinning off its industrial segment business which will be merged with Gardner Denver Holdings. Post-spin-off, the "old" Ingersoll-Rand will change its name and ticker to Trane Technologies plc (TT), and Trane will remain in the S&P 500 with a Global Industry Classification Standard change to Building Products Sub-Industry classification. Immediately following its merger with the industrial segment business, Gardner Denver will have a name and ticker change to "new" Ingersoll Rand (IR).
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LAMR | Hot Stocks17:28 EST Lamar Advertising CEO Sean Reilly will also be president of Lamar - On February 27, 2020, the Board of Directors of Lamar Advertising Company approved certain changes relating to the positions of two of its executive officers. Kevin P. Reilly, Jr., President and Chairman of the Board of the Company, resigned from the position of President. Following his resignation, he was appointed as Executive Chairman of the Board. He will remain an executive officer of the Company in this capacity. Sean E. Reilly, Chief Executive Officer of the Company, was appointed to the office of President. He will continue to serve as Chief Executive Officer of the Company.
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LAMR | Hot Stocks17:23 EST Lamar Advertising raises quarterly dividend to $1.00 per share from 96c
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FTSV GILD | Hot Stocks17:23 EST Forty Seven jumps 23% to $60.10 after Bloomberg report of Gilead approach
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BDSI | Hot Stocks17:20 EST BioDelivery Sciences presents phase 1 results of BELBUCA in respiratory drive - BioDelivery Sciences presented at the American Academy of Pain Medicine's 36th Annual Meeting the results of a study titled, "A Phase I Placebo-Controlled Trial Comparing the Effect of Buprenorphine Buccal Film and Oral Oxycodone Hydrochloride on Respiratory Drive". In May 2019, in response to significant challenges chronic pain patients face in obtaining adequate care and the ongoing opioid crisis, The Pain Management Best Practices Inter-Agency Task Force report recommended more research activities directed to better understanding the use of buprenorphine, a Schedule III opioid. Opioids can cause serious, life-threatening, or fatal respiratory depression. Respiratory depression is a breathing disorder characterized by slow and ineffective breathing and is the leading cause of opioid related deaths. In this clinical trial, BDSI evaluated the effect of BELBUCA, a Schedule III opioid, and oral oxycodone HCI, a Schedule II opioid, on respiratory drive. BELBUCA effect on respiratory drive was comparable to placebo at all doses tested. The effect of immediate release oral oxycodone HCl resulted in a dose-dependent decrease in respiratory drive compared to placebo.
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SLGN | Hot Stocks17:03 EST Silgan Holdings increases quarterly cash dividend to 12c per share - Silgan Holdings announced that its board declared a 12c per share quarterly cash dividend on the company's common stock, payable on March 31 to the holders of record of the common stock of the company on March 17. This represents a 9% increase from last year in the company's quarterly cash dividend, which the company has increased every year since it began paying cash dividends in 2004.
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ABTX | Hot Stocks17:02 EST Allegiance Bancshares announces stock repurchase program - Allegiance Bancshares announced that its board authorized a stock repurchase program on February 26, under which Allegiance may repurchase up to 1M shares of its outstanding common stock at the discretion of management through March 31, 2021. On February 20, 2020, the company completed its second 1M share repurchase authorization previously approved on July 25, 2019.
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WSBC | Hot Stocks17:01 EST WesBanco raises quarterly dividend to 32c from 31c per share - The higher dividend rate will be payable on April 1, 2020 to shareholders of record on March 13, 2020.
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PNTG | Hot Stocks17:00 EST The Pennant Group, Scripps Health to form home health joint venture - The Pennant Group, the parent company of the Pennant group of affiliated home health, hospice and senior living companies, announced that a subsidiary of Cornerstone Healthcare, its home health and hospice portfolio company, has entered into an agreement to form a home health joint venture with Scripps Health, a leading nonprofit integrated health system based in San Diego, California. The finalization of the joint venture is subject to customary closing conditions and is expected to occur in Q3 of 2020. Following the closing of the transaction, the joint venture will be managed by a Cornerstone affiliate and will provide home health services to patients throughout San Diego County and surrounding areas. As the parties begin the integration process, from now until closing, a Cornerstone affiliate will work with Scripps Home Health in preparation for the joint venture.
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CCBG | Hot Stocks16:57 EST Capital City Bank increases quarterly dividend 7.7% - The board of Capital City Bank Group declared a quarterly cash dividend on its common stock of 14c per share. It represents a 7.7% increase over the prior quarter of 13c. The dividend produces an annualized rate of 56c per common share and is payable on March 23 to shareowners of record as of March 9.
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EOG | Hot Stocks16:56 EST EOG Resources guides FY20 exploration and development capex $6.3B-$6.7B - The company states: "The purpose of EOG's annual capital program is to generate high returns on investment and increase the company's business value. Exploration and development expenditures for 2020 are expected to range from $6.3 billion to $6.7 billion, including facilities and gathering, processing and other expenditures, and excluding acquisitions and non-cash exchanges. The disciplined capital program supports growth in crude oil production of 10 to 14 percent in 2020 and funds dividend payments with net cash from operating activities at less than $50 oil. Due to the decline in crude oil prices, the 2020 capital plan allocates slightly less capital to growing oil production than in 2019. To continue to improve the company, the 2020 plan allocates more capital than in 2019 to fund new high-quality drilling potential and high-return infrastructure to further lower EOG's cost structure and environmental footprint. With the benefit of sustainable cost reductions and operational efficiencies, EOG expects to complete approximately 800 net wells in 2020 compared with 750 net wells in 2019. Activity will remain focused in EOG's highest rate-of-return oil assets in the Delaware Basin, Eagle Ford and Rocky Mountain Area."
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EOG | Hot Stocks16:55 EST EOG Resources raises quarterly dividend 30% to 37.5c per share - The dividend will be payable April 30, 2020, to stockholders of record as of April 16, 2020.
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WTRE | Hot Stocks16:49 EST Watford Holdings announces retirement of CEO John Rathgeber - Watford Holdings announced that John Rathgeber will retire as CEO on March 31. Rathgeber will remain a member of Watford's board and serve as a senior advisor to the company. Rathgeber will be succeeded by Jonathan Levy, who currently serves as Watford's president.
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BBBY | Hot Stocks16:47 EST Bed Bath & Beyond announces strategic restructuring, cuts 500 jobs - Bed Bath & Beyond announced a strategic restructuring program as part of the next phase of its work to rebuild the foundation of the business and create a sustainable, durable business model. The restructuring program includes a reorganization and simplification of its field operations, significant reduction in management positions across the business, and outsourcing of several functions. As part of the program, Bed Bath & Beyond commenced a workforce reduction impacting approximately 500 positions. This is a major pivot in the company's plan to realize several hundred million dollars of cost saving opportunities over the long-term. The overall restructuring program is expected to reduce annual SG&A expense by approximately $85 million, as part of a strategic realignment to create greater focus on the company's core business and initiatives designed to enhance the customer experience, drive sales, and position the company for long-term success.
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VMW | Hot Stocks16:46 EST VMware says committed to executing at scale - Says continues to execute against multi-cloud strategy. Says seeing AWS channel accelerate. Says seeing customers turn toward Azure VMware solution. Says poised to take leadership role in security in the new age of modern devices with Carbon Black addition. Says added more than 5,000 customers to Carbon Black bringing the total to over 10,000. Says positioned as leader in end-user computing space. Comments taken from Q4 earnings conference call.
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BIIB SGMO | Hot Stocks16:44 EST Biogen, Sangamo announce global collaboration on gene regulation therapies - Biogen (BIIB) and Sangamo Therapeutics (SGMO) announced that they have executed a global licensing collaboration agreement to develop and commercialize ST-501 for tauopathies including Alzheimer's disease, ST-502 for synucleinopathies including Parkinson's disease, a third undisclosed neuromuscular disease target, and up to nine additional undisclosed neurological disease targets. The companies will leverage Sangamo's proprietary zinc finger protein technology delivered via adeno-associated virus to modulate the expression of key genes involved in neurological diseases. Under the terms of the collaboration, Biogen has exclusive global rights to ST-501 for tauopathies including Alzheimer's disease, ST-502 for synucleinopathies including Parkinson's disease, and a third undisclosed neuromuscular disease target. In addition, Biogen has exclusive rights to nominate up to nine additional undisclosed targets over a target selection period of five years. Sangamo will perform early research activities, costs for which will be shared by the companies, aimed at the development of the combination of proprietary CNS delivery vectors and ZFP-TFs targeting therapeutically relevant genes. Biogen will then assume responsibility and costs for the investigational new drug-enabling studies, clinical development, related regulatory interactions, and global commercialization. Sangamo will be responsible for GMP manufacturing activities for the initial clinical trials for the first three products of the collaboration and plans to leverage its in-house manufacturing capacity. Biogen will assume responsibility for GMP manufacturing activities beyond the first clinical trial for each of the first three products. Upon closing of this transaction, Sangamo will receive $350M comprised of $125M in a license fee payment and $225M from the sale of new Sangamo stock, or approximately 24M shares at $9.21 per share. In addition, Sangamo may receive up to $2.37B in other development, regulatory, and commercial milestone payments, including up to $925M in pre-approval milestone payments and up to $1,445M in first commercial sale and other sales-based milestone payments. Sangamo will also be eligible to receive from Biogen tiered high single digit to sub-teen double-digit royalties on potential net commercial sales of products arising from the collaboration.
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RWT | Hot Stocks16:41 EST Redwood Trust raises quarterly dividend to 32c from 30c per share - The first quarter 2020 dividend is payable on March 30, 2020 to stockholders of record on March 16, 2020.
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TIBR | Hot Stocks16:40 EST Tiberius announces special meeting to approve extension for business combination - Tiberius Acquisition Corporation announced that it will hold a special meeting of stockholders at which its stockholders will be asked to consider and vote upon a proposal to amend the amended and restated certificate of incorporation of Tiberius to extend the date by which Tiberius is required to consummate its initial business combination from March 20 until April 20. The extension is being sought to provide additional time for the closing of the proposed business combination between Tiberius and International General Insurance Holdings Limited, IGI, but will only be implemented if additional time is required to complete the business combination. IGI has previously reported receipt of regulatory approval from the UK Prudential Regulation Authority, Financial Conduct Authority, Bermuda Monetary Authority and Dubai Financial Services Authority in connection with the combination. Tiberius expects to close the business combination on March 17. The extension provides additional time in the unlikely event that it is needed to execute the closing.
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DELL | Hot Stocks16:38 EST Dell Technologies announces new $1B share repurchase program - The company announced a new share repurchase program of up to $1 billion over the next 24 months, effective immediately. While de-levering remains the primary capital allocation goal, the company sees an opportunity to take advantage of what it believes is a significant discount in the current stock price.
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SCTY | Hot Stocks16:36 EST Monitronics CEO Jeff Gardner steps down, William Niles named interim CEO - Jeff Gardner, President and CEO, has stepped down from his position and from the company's board effective immediately. Also effective immediately, the company's board has named William Niles, the company's Chief Transformation Officer and General Counsel, as interim CEO. The appointment of Niles is coupled with a comprehensive search to name a permanent CEO for Brinks Home Security, which is expected to commence shortly. Niles will remain in his role as interim CEO until the transition to a permanent CEO has been completed.
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EB | Hot Stocks16:34 EST Eventbrite drops 8% to $15.70 after 2020 sales outlook misses estimates
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GRTX | Hot Stocks16:32 EST Galera Therapeutics announces results from GC4419 two-year follow-up - Galera Therapeutics announced full tumor outcomes results from the two-year follow-up of patients with head and neck cancer treated with avasopasem manganese, GC4419, Galera's lead product candidate for severe oral mucositis, or SOM, in a Phase 2b clinical trial. The results will be presented February 28 during a late-breaking oral presentation at the 2020 Multidisciplinary Head and Neck Cancers Symposium in Scottsdale, Arizona. "There is currently no drug to prevent or treat SOM, one of the most common and disruptive side effects of radiation therapy that severely impacts both a patient's quality of life and treatment experience," said Mel Sorensen, CEO of Galera Therapeutics. "Avasopasem manganese's efficacy and tumor outcomes in SOM underscore its potential to complement a standard radiation therapy regimen and change the standard of care for the reduction of SOM in patients with head and neck cancer receiving radiotherapy. We look forward to the continued evaluation of avasopasem manganese for the treatment of SOM in our ongoing Phase 3 ROMAN trial, as well as for other radiation-induced toxicities, such as esophagitis in lung cancer in our ongoing Phase 2a trial."
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BHVN | Hot Stocks16:30 EST Biohaven Pharmaceutical gets FDA approval for acute treatment of migraine - Biohaven Pharmaceutical announced that the FDA has approved NURTEC ODT for the acute treatment of migraine in adults. NURTEC ODT is the first FDA-approved product for Biohaven, a company dedicated to advancing innovative therapies for neurological diseases. The FDA approval of NURTEC ODT is based on results from the pivotal Phase 3 clinical trial (Study 303) and the long-term, open-label safety study (Study 201). In the Phase 3 trial, NURTEC ODT achieved statistical significance on the regulatory co-primary endpoints of pain freedom and freedom from most bothersome symptom at two hours post dose compared to placebo. NURTEC ODT also demonstrated statistical superiority at one hour for pain relief (reduction of moderate or severe pain to no pain or mild pain) and return to normal function. The benefits of pain freedom, pain relief, return to normal function and freedom from MBS were sustained up to 48 hours for many patients. Importantly, these benefits were seen with only a single dose of NURTEC ODT. Eighty-six percent of patients treated with NURTEC ODT did not require rescue medication (e.g. NSAIDS, acetaminophen) within 24 hours post dose. Vlad Coric, M.D., CEO of Biohaven commented, "The FDA approval of NURTEC ODT marks an important milestone for the migraine community and a transformative event for Biohaven. Millions of people suffering from migraine are often not satisfied with their current acute treatment, at times having to make significant tradeoffs because of troublesome side effects and reduced ability to function. NURTEC ODT is an important new oral acute treatment for migraine that offers patients the potential to quickly reduce and eliminate pain and get back to their lives." Dr. Coric added, "We believe NURTEC ODT will be the first of many innovative Biohaven medicines to become available to treat devastating neurological diseases, a therapeutic category many other companies have abandoned. "
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MNRL | Hot Stocks16:28 EST Brigham Minerals sees FY20 production 10,000 Boe/d to 11,000 Boe/d
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MORF | Hot Stocks16:27 EST Morphic Holding provides corporate update - Morphic Holding reports corporate highlights and financial results for the full year 2019. Presented preclinical data supporting MORF-057 as an oral inhibitor candidate targeting alpha4beta7; IND expected in mid-2020; Advanced development of MORF-720 in IPF with AbbVie) IND anticipated by year-end 2020. Year-end cash, cash equivalents and marketable securities of $237.0 million expected to fund operating expenses and capital expenditures requirements at least through 2022.
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PRAA | Hot Stocks16:26 EST PRA Group announces transition of Steve Fredrickson from Executive Chairman - PRA Group announced the transition of co-founder Steve Fredrickson from Executive Chairman to Non-Executive Chairman of the Board of Directors. This move, effective April 1, 2020, is the culmination of a planned leadership transition that began several years ago.
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SPTN | Hot Stocks16:25 EST SpartanNash raises quarterly dividend to 19.25c per share from 19c - SpartanNash announced that its Board of Directors has approved a quarterly cash dividend of 19.25c per common share, representing an increase from its fiscal 2019 quarterly cash dividend of 19c. The dividend will be paid on March 31, 2020 to shareholders of record as of the close of business on March 10, 2020. As of February 26, 2020, there were 36,348,831 common shares outstanding.
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NCR EFX | Hot Stocks16:25 EST NCR names Equifax CEO to board of directors - NCR Corporation (NCR) announced that it has named Equifax Chief Executive Officer Mark W. Begor to its Board of Directors. Begor has been CEO of Equifax (EFX), a global data, analytics, and technology company, since 2018. "Mark brings a strong background of successful leadership and a diverse range of financial services, technology, manufacturing, and services experience to our Board," said NCR Executive Chairman Frank R. Martire. "I am very pleased to welcome him to the NCR Board of Directors."
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AMC | Hot Stocks16:24 EST AMC Entertainment announces $200M share repurchase program - Concurrent with the decision to increase the proportion of capital allocated to share buybacks, the board has authorized up to $200M of Class A common stock repurchases over the next three years. Additionally, all of the relevant senior officers of AMC have voluntarily signed on to a new compensation program dependent on a one-time share equivalent grant that is considerably out-of-the-money at present. The current total target compensation of AMC's participating senior officers will be immediately reduced by an amount equal to the sum of 15% of their cash salaries plus 15% of their target cash bonus opportunity. This compensation decrease will be split into thirds and applied evenly as reductions across each of three categories: one-third lowering combined cash salary and cash bonus, one-third lowering at-market restricted share equivalent grant amounts that time vest and one-third lowering at-market performance share equivalent grant amounts that vest based on performance. Importantly, these sacrifices in lowered cash salary and cash bonus, as well as in lowered restricted share equivalent grant and performance share equivalent grant levels, will continue at the new lower totals in each of the coming three years. In exchange, the officers reducing their pay will receive now a one-time grant of AMC share equivalents that with certain exceptions has a three-year time vesting provision and requires that the AMC share price rise materially in order for vesting to occur. This share equivalent grant is split into six equal tranches. Initial vesting will not occur until the AMC share price recovers on a 20-day VWAP basis to $12 per share, a 102% premium to yesterday's market close. The second tranche will vest only when the AMC share price rises to $16, a 170% premium. The third tranche vests at $20, a 237% premium. The subsequent tranches vest at $24, $28 and $32, premiums of 305%, 372%, and 440% respectively. All of the Company's senior officers have signed on to this program, excepting only those who are expected to retire prior to the 3-year time vesting requirement. Twelve long-time existing senior officers, led by the Company's CEO and President, are taking the aforementioned pay reductions. Two recent new-hire officers agreed to lower compensation than they were earning previously elsewhere in order to join AMC and to receive their out-of-the-money share equivalent grants. The recently announced out-of-the-money share equivalent grant of the Company's new Chief Financial Officer will be homogenized with the various vesting requirements for all in the senior officer corps described herein. While the total compensation reductions equal to 15% of cash salary and cash bonus as detailed here are envisioned to be in effect for each of calendar years 2020, 2021 and 2022, the Compensation Committee of the AMC Board of Directors will retain its complete flexibility to set future compensation levels for any individual AMC officer or officers as it sees fit at its sole discretion. More detail on this program will be contained in an 8-k filing by the Company.
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LNDC | Hot Stocks16:24 EST Landec exploring strategic alternatives for legacy vegetable bag, tray business - Landec Corporation announced that management and the board have launched a process to explore strategic alternatives for its legacy vegetable bag and tray business, which includes the potential divestiture of that business. The company believes that these changes will improve the company's operating cost structure, simplify its supply chain, enhance profitability and strengthen its balance sheet with an overall aim to deliver long-term value to shareholders. Curation Foods' legacy vegetable bag and tray business, which includes Eat Smart and private label brands, generated net sales of $160M for FY19.
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ILMN | Hot Stocks16:24 EST Illumina files additional patent infringement suit against BGI in U.S. - Illumina announced that it has filed a patent infringement suit relating to BGI's "CoolMPS" sequencing products. The complaint was filed against BGI Genomics Co., Ltd., BGI Americas Corp., MGI Tech Co., Ltd., MGI Americas, Inc. and Complete Genomics Inc. in the United States District Court for the Northern District of California alleging infringement of three patents: US Patent Nos. 7,541,444; 7,771,973; and 10,480,025. The complaint seeks, among other things, damages, injunctive relief and attorney fees. The patents cover Illumina's proprietary sequencing-by-synthesis chemistry. "BGI has brazenly copied Illumina's proprietary sequencing chemistry. Illumina's patent portfolio reflects the incredible innovation of Illumina's employees and the investment of hundreds of millions of dollars that Illumina spends annually on research and development," said Charles Dadswell, SVP and General Counsel for Illumina. "We will continue to monitor and defend our intellectual property by appropriate enforcement when our patents are infringed." Related patent suits are pending in Denmark, Germany, Sweden, Switzerland, Turkey, the UK and the U.S. Counterparts to these newly asserted patents have been upheld by the U.S. Patent Trial and Appeal Board and the European Patent Office over challenges filed by BGI, Complete Genomics and others.
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CLNC | Hot Stocks16:22 EST Colony Credit forms special committee to review strategic alternatives - Colony Credit Real Estate said its board has formed a special committee consisting exclusively of independent and disinterested directors to explore the internalization proposal as well as other strategic alternatives. It said, "On February 27, 2020, Colony Capital publicly reported that it plans to take action to enter into an agreement with the Company and/or one or more third parties with respect to a disposition of Colony Capital's management agreement with the Company, subject to the Company's consent, whether in the form of an internalization of the Company's management (including, but not limited to, the possible internalization set forth in the November 6, 2019 letter), a sale of Colony Capital's management agreement with the Company, or similar transaction the effect of which is to dispose of, in whole or in part, Colony Capital's management agreement with the Company. The scope of any such transaction is focused on Colony Capital's management agreement with the Company, and not on Colony Capital's private credit investment management platform and associated private credit assets."
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FISI | Hot Stocks16:22 EST Financial Institutions increases quarterly dividend 4% - Financial Institutions announced that its board has approved a quarterly cash dividend of 26c per outstanding common share - an increase of 4% from the most recent quarterly cash dividend - and the equivalent of $1.04 annually. The company also announced dividends of 75c per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock. All dividends are payable April 2 to shareholders of record on March 19.
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FISI | Hot Stocks16:22 EST Financial Institutions increases quarterly dividend 4% - Financial Institutions announced that its board has approved a quarterly cash dividend of 26c per outstanding common share an increase of 4% from the most recent quarterly cash dividend and the equivalent of $1.04 annually. The company also announced dividends of 75c per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock. All dividends are payable April 2 to shareholders of record on March 19.
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ADUS | Hot Stocks16:20 EST Addus HomeCare postpones Q4 earnings report, 10-K filing - Addus HomeCare announced that it will postpone the release of earnings for the fourth quarter and year ended December 31, 2019, and will now host its accompanying conference call on Wednesday, March 18, 2020, beginning at 9:00 a.m. ET. The company filed a Form 12b-25 with the SEC to extend its filing deadline for its Form 10-K for fifteen calendar days, until Tuesday, March 17. These postponements allow additional time for the company to complete the valuation of a non-cash implicit price concession related to revenue and accounts receivable, including the periods to which it relates, and to perform the related internal controls assessment. The company anticipates reporting that its net service revenues have increased by more than 20% for the twelve month period ending December 31, 2019, as compared to the twelve month period ending December 31, 2018, and that cash on hand as of December 31, 2019, was approximately $112 million as compared to approximately $70 million as of December 31, 2018. CEO Dirk Allison said, "Addus became a large accelerated filer and engaged new independent auditors during 2019, and we were not able to finalize our financial results to meet the fifteen-day earlier date required as a large accelerated filer. However, we look forward to reporting results shortly and hosting our regular earnings call."
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PFE KO | Hot Stocks16:19 EST Pfizer names Coca-Cola CEO to board of directors - Pfizer (PFE) Compensation Committee and the Science and Technology Committee of Pfizer's Board. Mr. Quincey is Chairman and Chief Executive Officer of The Coca-Cola Company (KO). He has held the position of Chairman of the Board of The Coca-Cola Company since 2019 and CEO since 2017. Prior to becoming CEO, he served as President and Chief Operating Officer from August 2015 to 2017. Since Mr. Quincey joined The Coca-Cola Company in 1996, he has held a number of leadership roles around the world, including President of the Europe Group, President of the Mexico division and President of the South Latin division. Prior to joining Coca-Cola, he was a partner in strategy consulting at The Kalchas Group, a spinoff of Bain & Company and McKinsey. Mr. Quincey serves as vice co-chair of The Consumer Goods Forum and is a founding member of the New York Stock Exchange Board Advisory Council.
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DOCU | Hot Stocks16:18 EST DocuSign to acquire Seal Software for $188M - The company states: "Reflecting the increasingly important role that artificial intelligence will play in the digital transformation of the agreement process, DocuSign announced its intent to acquire one of the leading contract analytics and AI technology providers, Seal Software, for $188 million in cash. The news builds on the existing relationship between the two companies. DocuSign already resells Seal's flagship analytics and machine learning application as part of the DocuSign Agreement Cloud-its suite of applications and integrations for automating and connecting the entire agreement process. DocuSign also made a strategic investment in Seal in March last year. With the acquisition, DocuSign can integrate Seal's technology and value proposition more comprehensively across the Agreement Cloud-and therefore deliver greater value to companies looking to prepare, sign, act-on and manage the agreements that are critical to their business."
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CLNC | Hot Stocks16:16 EST Colony Credit Real Estate CEO Traenkle stepping down, Andrew Witt to succeed - Colony Credit Real Estate announced that Andrew Witt, Managing Director and Chief Operating Officer of Global Credit at Colony Capital, has been appointed Interim Chief Executive Officer and President, effective February 29, 2020. Witt will succeed Kevin Traenkle, who is stepping down from his position as Chief Executive Officer and President.
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ICFI | Hot Stocks16:16 EST ICF International appoints James Morgan as Chief of Business Operations - ICF announced several executive appointments including James Morgan, who has been named chief of business operations, and Bettina Welsh, who will take over as chief financial officer. Both roles take effect on February 29. Morgan, who previously served as CFO, will assume a newly created role focused on leading business operations and transformation across various corporate functions and initiatives. Welsh joined ICF as a senior vice president in September 2019.
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COLM | Hot Stocks16:16 EST Columbia Sportswear sees FY20 results 'significantly affected' by COVID-19 - Columbia Sportswear provided an update on the business impacts of the COVID-19 outbreak. "Our first priority has been to take appropriate measures to ensure the health and safety of our employees and partners," commented Chairman, President and Chief Executive Officer Tim Boyle. "Thankfully, we have no reported incidents of our employees contracting the virus to date, and many of them are working remotely from home to help maintain business operations. While this outbreak will have a material impact on our near-term financial performance in China, we continue to believe China represents one of our largest long-term geographic opportunities. We believe our fortress balance sheet, including no long-term debt, and diversified global business model will enable us to overcome this present adversity and unlock the full potential of our brand portfolio in this market over time." In 2019, China represented approximately 5 percent of total net sales and the Asia-direct business, which includes Japan, China and Korea, represented approximately 15 percent of total net sales. While stores have begun to reopen in China, approximately half of our owned and partner stores there remain temporarily closed. Stores that are open in China have experienced a material decline in traffic and corresponding sales. There has also been an impact of the COVID-19 outbreak in Japan and Korea. Until normality returns, we expect a continued unfavorable impact on sales in our Asia-direct business. The company ntoed that the outbreak is also impacting its supply chain. "While only a low-double-digit percent of our finished goods are manufactured in China, our contract manufacturers source a large portion of raw materials from China. Temporary factory closures and the pace of workers returning to work have impacted our contract manufacturers' ability to source certain raw materials and to produce and fulfill finished goods in a timely manner," the company said. "The outbreak is also impacting distribution and logistics providers' ability to operate in the normal course of business. These supply chain impacts will likely affect our ability to timely fulfill orders and meet consumer demand. Given we have already received substantially all of our Spring 2020 product, potential order fulfillment delays would impact future seasons. As stated on February 6, 2020, our full year 2020 financial outlook provided at that time did not include the potential financial impact of the COVID-19 outbreak. The COVID-19 outbreak is ongoing, and its dynamic nature, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and actions that may be taken by governmental authorities to contain the outbreak or to treat its impact, makes it difficult to forecast any effects on our 2020 results. However, as of the date of this release we expect our 2020 results to be significantly affected. We will provide an update as to the impacts of the COVID-19 outbreak on our first quarter earnings conference call scheduled for April 30, 2020."
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CLNC | Hot Stocks16:15 EST Colony Credit Real Estate announces $300M stock repurchase program - Colony Credit Real Estate authorized a stock repurchase program, under which the company may repurchase up to $300M of its outstanding Class A common stock until March 31, 202, replacing the company's prior stock repurchase program announced in February 2019.
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BIIB SGMO | Hot Stocks16:12 EST Biogen, Sangamo announce global collaboration over gene regulation therapies - Biogen Inc. (BIIB) and Sangamo Therapeutics, Inc. (SGMO), a genomic medicine company, announced that they have executed a global licensing collaboration agreement to develop and commercialize ST-501 for tauopathies including Alzheimer's disease, ST-502 for synucleinopathies including Parkinson's disease, a third undisclosed neuromuscular disease target, and up to nine additional undisclosed neurological disease targets. The companies will leverage Sangamo's proprietary zinc finger protein technology delivered via adeno-associated virus to modulate the expression of key genes involved in neurological diseases. "As a pioneer in neuroscience, Biogen will collaborate with Sangamo on a new gene regulation therapy approach, working at the DNA level, with the potential to treat challenging neurological diseases of global significance. We aim to develop and advance these programs forward to investigational new drug applications," said Alfred Sandrock Jr., M.D., Ph.D., Executive Vice President, Research and Development at Biogen.
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ACHC | Hot Stocks16:10 EST Acadia in 'second phase' of selling U.K. business - The company said, "We launched a formal process regarding the sale of our U.K. business in January 2020, following the U.K. elections and preliminary discussions with prospective buyers at the end of last year. Consistent with market practice for U.K. transactions of this nature, and in conjunction with our advisors, we solicited and now have received initial, non-binding offers to acquire our U.K. business from multiple bidders. We are currently in the second phase of the sale process, during which interested bidders will receive proposed transaction documents and complete their confirmatory due diligence. We will continue to work with our financial and legal advisors and will update the market when and as we determine it is appropriate."
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FFIC | Hot Stocks15:51 EST Flushing Financial receives Empire shareholder approval for pending acquisition - Flushing Financial Corporation, parent company of Flushing Bank, announced that at the special shareholders meeting of Empire Bancorp, held today, the merger of Empire with and into Flushing pursuant to the Agreement and Plan of Merger, dated October 24, 2019, as amended was approved by the shareholders of Empire. As previously announced, the required regulatory approvals for the merger have been obtained. Flushing and Empire expect the merger to close effective on or about April 4, 2020. John R. Buran, President and CEO of Flushing, stated, "We are pleased that the Empire shareholders have provided approval to continue to move forward on our acquisition of Empire. We are excited about the projected benefits of this acquisition, including an increase in core deposits, lower cost of funds, improvement in loan to deposit ratios, and enhancement of our core earnings power. This approval brings us another step closer to the execution of our plan to merge our two organizations to achieve significant cost synergies and create one of Long Island's largest banks by deposit share among regional and community banks. This acquisition will expand Flushing Bank's reach into Suffolk County, creating a stronger community bank with a network of 24 branches in Queens, Brooklyn, Manhattan, and on Long Island. Flushing announced that 5:00 p.m. Eastern Time on April 1, 2020 is the deadline by which Empire shareholders may elect to receive cash, shares of common stock, $0.01 par value per share, of Flushing, or both as "merger consideration" in connection with the merger pursuant to a formula, and subject to the election, allocation and proration procedures, set forth in the merger agreement. The Election Deadline is based on Flushing's and Empire's current expectation that the merger will be completed on or about April 4, 2020. However, the completion of the merger remains subject to the satisfaction or waiver of certain customary conditions contained in the merger agreement.
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MSFT SNAP | Hot Stocks15:42 EST Microsoft's LinkedIn experimenting with Stories feature internally - Microsoft (MSFT) unit LinkedIn is gearing up for a new controversial format called Stories according to Pete Davies at LinkedIn: "Conversations are at the heart of so much that happens on LinkedIn. Need help with how to manage work life balance? Someone in your community can help share their experience. Have an urgent hiring need - or looking for your next role? Ask your network to make intros. Want to get feedback on your idea? Try messaging or create a post to get opinions from your network. As the head of content products at LinkedIn, my job is to make sure we're giving professionals every format and feedback opportunity they need to make these conversations as productive as possible. Over the last few years, that's led us to launch features including Newsletters, Live Video, Trending News, and Reactions. There are more conversations taking place in the LinkedIn feed than ever before, with a 25% year-over-year increase in engagement. We see more and more ways in which our members come together to have a conversation - from sharing and discussing the lessons learned in a job, to helping with ideas for a new purchase to a community outpouring of love following a tragedy...So, we're currently testing LinkedIn Stories internally, and we can't wait to test it with our members in the coming months." Companies that may be impacted by this include Snap (SNAP). Reference Link
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SRNE | Hot Stocks15:32 EST Sorrento Therapeutics presents 'positive' interim results of Phase 1b RTX trial - Sorrento Therapeutics announced that an interim analysis of an ongoing Phase 1b study of resiniferatoxin administered via epidural route in patients with intractable cancer pain has generated positive data. The study is completing enrollment of an additional 25 ug expansion dose cohort. Based on full study results a dose will be selected for RTX to proceed to Phase 3 pivotal trials in patients with advanced cancer pain. Safety in the higher dose cohort is expected to be supportive for testing RTX epidural administration in other advanced non-cancer disease related unmet clinical needs. No dose limiting toxicities or notable adverse events unrelated to progression of underlying disease were encountered for any of the subjects. The most common treatment-related adverse event was transient post-procedural pain: 7 of 14 subjects reported moderate severity. Two additional treatment-related adverse events of moderate severity were back pain and increase in blood pressure in a patient. All events resolved in less than two days following drug administration.The ongoing trial will follow subjects for at least 84 days. The lower doses of 0.4, 1.0, 2.0, 4.0 ug did not demonstrate notable pain relief, but permitted dose escalation to the next designated dose level based on how well the drug was tolerated. Three patients had marked pain relief starting shortly after initial administration that were still observed weeks after treatment: 1 of 3 subjects who received 8 ug, and 2 of 3 subjects who received 15 ug. Improvement in pain and mobility within 24 hours of dosing in the three responders at the higher dose levels of RTX suggests the clinical potential of the drug for intractable cancer pain. Sorrento intends to present the detailed results of the completed study upon completion of the additional expansion cohort later this year. A pivotal Phase 3 trial is being planned using epidural RTX for severe pain states associated with advanced disease. "We are encouraged by the benefits of using RTX to treat intractable pain in patients with metastatic cancer," said Associate Professor of Anesthesia, Srdjan S. Nedeljkovic, M.D. from the Department of Anesthesiology, Perioperative and Pain Medicine, Brigham and Women's Hospital at Harvard Medical School. "Even in patients with high levels of pain, RTX given via an epidural injection has been found to reduce pain intensity without having any long-term adverse safety consequences. The addition of RTX to existing cancer pain therapies represents a positive step forward in improving the care of patients with intractable cancer pain and offers the hope of enhancing the overall quality of life experienced by this population."
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FB | Hot Stocks15:28 EST Facebook to add new way for users to track political sponsored content - Rob Leathern, Director of Product at Facebook, said via Twitter that Facebook has just added a new column to its 2020 U.S. Presidential Election CrowdTangle Live Display so users can see political branded content on Facebook and Instagram. People can view the display in a live feed or search by candidate, Leathern said. "We're exploring options on how to ensure transparency of political branded content posted from Instagram accounts while public who later switch to private," he added. Reference Link
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LIVN MDT | Hot Stocks14:29 EST LivaNova jumps after Reorg says Medtronic buyout talks in early stage - Shares of LivaNova (LIVN) rallied after Reorg, according to Bloomberg, reported that Medtronic is in early stage buyout talks with the company. Medtronic was pitched recently on acquiring LivaNova and the proposal has gained traction, Reorg said, Bloomberg reported. Shares of LivaNova are up 8%, or $5.02, to $67.72 following the report.
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TCEHY... | Hot Stocks14:28 EST Epic Games to skip GDC 2020 amid coronavirus concerns - Epic Games, the creator of "Fortnite," is withdrawing plans to attend GDC 2020 amid concerns over the spread of coronavirus. "Here at Epic we were excited about participating in GDC 2020," the company said via Twitter. "Regrettably, uncertainty around health concerns has made it unviable to send our employees, and so we have made the difficult decision to withdraw attendance." Investors in Epic include Tencent (TCEHY), Disney (DIS), and KKR (KKR). Reference Link
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TIAOF KKR | Hot Stocks14:14 EST Telecom Italia board views KKR's fiber-optic network bid positively - Telecom Italia (TIAOF) said its board of directors met chaired by Salvatore Rossi for an update on the project aimed at evaluating possible forms of integration between TIM's and Open Fiber's optical fibre networks, a project appreciated and supported by national institutions - as evidenced by the significant statement made yesterday by the Minister of Economy Roberto Gualtieri - as it would accelerate the development of the fibre network and consequently end the digital divide still existing in many areas of the country, avoiding duplication of investments that are already very expensive in themselves. On the matter, the Board of Directors appreciated the work done in these months and positively took note of the non-binding offer presented by the fund KKR (KKR) to be the exclusive partner of TIM in the development of the fibre network. The Board of Directors also acknowledged that the Chief Executive Officer will inform the institutional bodies about the progress of discussions with the various actors involved, in line with the Golden Power legislation, and will at the same time continue the talks necessary to this end. Reference Link
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ZTS | Hot Stocks14:02 EST Zoetis says FDA approves Simparica Trio - Zoetis announced that the FDA has approved Simparica Trio, the first once-monthly, chewable tablet in the U.S. that delivers all-in-one protection from heartworm disease, ticks and fleas, roundworms and hookworms. This combination product builds on the trusted legacy of Simparica Chewables and exemplifies Zoetis' dedication to innovation in parasiticides.
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BK | Hot Stocks13:58 EST BNY Mellon jumps in afternoon trading, up 1.7% to $42.07
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ZAYO | Hot Stocks13:53 EST Zayo Group says Digital Colony merger expected to close on March 9, 2020 - Zayo Group Holdings announced that all regulatory approvals relating to the previously announced merger through which the company would be acquired by affiliates of Digital Colony Partners and the EQT Infrastructure IV fund have been received. Zayo's stockholders previously approved the merger at a special meeting of stockholders on July 26, 2019. The merger's legal closing is expected to be effective on March 9, 2020, subject to the satisfaction (or waiver) of all conditions to closing. As previously announced, upon completion of the merger, stockholders will receive $35.00 in cash per share of Zayo's common stock.
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CLNC | Hot Stocks13:35 EST Blackwells Capital calls on Colony Credit to respond to letter - Blackwells Capital, an alternative investment management firm and a significant owner of shares of Colony Credit Real Estate, directly and indirectly through its ownership of Colony Capital, disclosed a letter it sent to the company's Board of Directors on February 7, 2020. "Colony Credit has not yet provided us with a substantive response to the issues and concerns we have raised," said Jason Aintabi, Chief Investment Officer of Blackwells. "As a large shareholder who believes the Board, management and investment team has materially underperformed at Colony Credit, we expect the Company to respond to our concerns and suggestions on the upcoming earnings call." The letter said in part: "The Company's underperformance is the result of not only poor investment decisions and leadership, but also the Board's complacency and failure to appropriately exercise its fiduciary obligations on behalf of the Company and its shareholders. To make matters worse, at a time when the Board should be refraining from saddling the Company with additional long-term obligations, the Board is instead actively considering rewarding those responsible for steering Colony Credit's portfolio into ruin and shattering investors' confidence by directly hiring the same Colony Capital personnel to officially run the Company. We believe that any such action constitutes an egregious breach of the Board's obligations for which we intend to hold it fully accountable... While inexcusable, the Board's plain unwillingness to seriously consider breaking ties with Colony Capital and replacing Mr. Traenkle and the rest of the Company's senior management team with competent personnel is perhaps understandable given their close relationships-of the seven members of the Board, at least five are or were previously employed by Colony Capital or its predecessors. Given current leadership's value destructive track record and consistent pattern of over-promising and under-delivering, we believe the Company has lost the right to allocate and invest additional shareholder capital. Additionally, given Colony Credit's continued abysmal performance, the Board's clear conflicts of interest, and its demonstrated reticence to consider sensible avenues for replacing ineffective leadership and portfolio managers with competent personnel, the Board should immediately put a moratorium on allocating capital to new loans and investments, and cease any consideration or negotiation of Colony Capital's proposal to "internalize" the Company's management by hiring Colony Capital personnel."
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TKAMY | Hot Stocks13:26 EST Thyssenkrupp sells Elevator Technology business for EUR 17.2B - Thyssenkrupp announced that it solid its Elevator Technology business entirely to a consortium led by Advent, Cinven and RAG foundation. Closing of the transaction is expected by the end of the current fiscal year. The purchase price is EUR 17.2B. Thyssenkrupp will reinvest part of the purchase price, or EUR 1.25B, in a stake in the elevator business. The proceeds will be used to reduce debt and to lower structural costs, Thyssenkrupp said.
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CMG | Hot Stocks13:20 EST Pershing Square lowers stake in Chipotle to 4.2% - In a regulatory filings last night, Bill Ackman's Pershing Square reported the sale of 347,700 shares of Chipotle Mexican Grill, lowering the firm's stake in the restaurant company to 4.2%. Today, Ackman is quoted by Bloomberg as stating that he sold the shares "only" for portfolio reasons and that he continues to be "a delighted long-term shareholder" of Chipotle.
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FB | Hot Stocks13:14 EST Facebook cancels F8 developer conference due to coronavirus - Facebook said in a blog post, "Every year, we look forward to connecting with our global developer community at F8 and sharing our vision for the future that we're building together. But given the growing concerns around COVID-19, we've made the difficult decision to cancel the in-person component of F8 2020... We explored other ways to keep the in-person part of F8, but it's important to us to host an inclusive event and it didn't feel right to have F8 without our international developers in attendance...In place of the in-person F8 event, we're planning other ways for our community to get together through a combo of locally hosted events, videos and live streamed content. We'll share additional details on our plans for F8 in the coming weeks. Sign up here to have updates emailed to you directly. In the meantime, thanks for your patience and understanding -- and we look forward to seeing our global community of developers at F8 2021!" Reference Link
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FB | Hot Stocks13:14 EST Facebook cancels F8 developer conference due to coronavirus - Facebook said in a blog post, "Every year, we look forward to connecting with our global developer community at F8 and sharing our vision for the future that we're building together. But given the growing concerns around COVID-19, we've made the difficult decision to cancel the in-person component of F8 2020... We explored other ways to keep the in-person part of F8, but it's important to us to host an inclusive event and it didn't feel right to have F8 without our international developers in attendance...In place of the in-person F8 event, we're planning other ways for our community to get together through a combo of locally hosted events, videos and live streamed content. We'll share additional details on our plans for F8 in the coming weeks. Sign up here to have updates emailed to you directly. In the meantime, thanks for your patience and understanding -- and we look forward to seeing our global community of developers at F8 2021!" Reference Link
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FB | Hot Stocks13:05 EST Facebook cancels in-person component of F8 2020 amid coronavirus concerns - On Facebook's F8 Developer conference website, the company said: "In light of the growing concerns around COVID-19, we've made the difficult decision to cancel the in-person component of F8 this year, in order to prioritize the health and safety of our developer partners, employees and everyone who helps put F8 on. We plan to replace the in-person F8 event with locally hosted events, videos and live-streamed content."
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MSFT | Hot Stocks12:56 EST Microsoft withdraws from Game Developers Conference over coronavirus - Microsoft said in a blog post, "After a close review of guidance by global health authorities and out of an abundance of caution, we've made the difficult decision to withdraw from participating at Game Developers Conference 2020 in San Francisco. The health and safety of players, developers, employees, and our partners around the world is our top priority. Especially as the world is experiencing growing public health risks associated with coronavirus (COVID-19). In light of this, we plan to move our presence to a digital-only event March 16-18th held on www.microsoft.com/gamestack. This event will feature the majority of our planned game developer sessions and experiences, which will be streamed live and available on demand." Reference Link
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FDX | Hot Stocks12:30 EST FedEx, Chanje Energy to develop vehicle charging infrastructure - FedEx started construction on electronic DC charging stations back in January, and today announced the next phase of its electric vehicle rollout. Through an agreement with Chanje Energy Inc., the company plans to electrify 42 FedEx stations in California, making it one of the largest deployments of integrated charging infrastructure by a single commercial fleet to date. FedEx announced the addition of 1,000 Chanje V8100 electric delivery vehicles to its fleet last November. FedEx is purchasing 100 of the vehicles from Chanje Energy Inc. and leasing 900 from Ryder System, Inc. The agreement will provide an innovative infrastructure to support the continued rollout of its electric vehicle fleet.
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SDGR | Hot Stocks12:06 EST Citron Research issues update on Schrodinger long idea - In an update note posted to its website, Citron Research issued more detail on its long thesis on Schrodinger, which the firm initially disclosed a week ago. Citron maintains an $80 price target on Schrodinger shares.Reference Link
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ERI CZR | Hot Stocks12:03 EST Eldorado Resorts secures Maryland approval for Caesars acquisition - Eldorado Resorts (ERI) announced that at a meeting, the Company received approval from the Maryland State Lottery & Gaming Control Agency in connection with its pending acquisition of Caesars Entertainment Corporation (CZR), subject to customary conditions. The transaction is expected to be consummated in the first half of 2020 and remains subject to the receipt of all required regulatory approvals, and other closing conditions.
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TDOC | Hot Stocks12:00 EST Teladoc rises 20.6% - Teladoc is up 20.6%, or $24.05 to $140.91.
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REZI | Hot Stocks12:00 EST Resideo rises 21.8% - Resideo is up 21.8%, or $1.85 to $10.37.
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GCAP | Hot Stocks12:00 EST Gain Capital rises 66.7% - Gain Capital is up 66.7%, or $2.35 to $5.88.
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CW | Hot Stocks11:53 EST Curtiss-Wright COO Thomas Quinly to take a personal leave of absence - Thomas P. Quinly, Vice President and Chief Operating Officer of Curtiss-Wright Corporation, will take a personal leave of absence. Quinly's leave is expected to last approximately 12 months. Lynn Bamford, President of the Defense and Power Segments, and Kevin Rayment, President of the Commercial/Industrial Segment, will fill Mr. Quinly's role and assume his responsibilities during his absence and will remain in their current positions while carrying out such additional role and responsibilities.
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SBUX | Hot Stocks11:05 EST Starbucks CEO says 85% of stores in China now open - In a letter to employees posted on its corporate blog, Starbucks CEO Kevin Johnson stated in part: "With the number of new cases in China slowing, we are seeing the early signs of a recovery in the region. As a result, the situation is improving throughout major parts of China. We now have 85% of stores open across China and continue to assess the ongoing impact. Over time, we will see additional communities recover, more customer occasions in our stores, and we will continue our focus on the well-being of our partners and customers...With a global footprint, we are working in lockstep with Starbucks regional leaders to share preparedness guidelines and our learnings from China should they be needed. We are staying close to the situation in every single market through connections with local health officials and are prepared to take whatever actions necessary, market by market, to ensure the health and well-being of our partners and customers." Reference Link
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ACIA | Hot Stocks10:55 EST Acacia Communications withdraws from OFC 2020 amid coronavirus - Acacia Communications announced that it will not be attending the upcoming 2020 Optical Fiber Communications Conference and Exhibition taking place on March 8-12 in San Diego due to growing global concerns surrounding the ongoing COVID-19 coronavirus outbreak.
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TELL | Hot Stocks10:32 EST Tellurian, Petronet extend MOU timing for 5M tonnes of LNG - Tellurian announced it has extended its Memorandum of Understanding with Petronet LNG pursuant to which Petronet and its affiliates intend to negotiate the purchase of up to five million tonnes per annum of liquefied natural gas from the Driftwood project, concurrent with an equity investment in Driftwood Holdings. The MOU signed in September 2019 previously contemplated that transaction agreements would be finalized by March 31, 2020. The timing has been extended to May 31, 2020 to support Petronet's consultative review process.
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MAR | Hot Stocks10:30 EST Marriott says reopening hotels in China every day
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MAR | Hot Stocks10:27 EST Marriott: Coronavirus to 'run its course,' impacts won't be long-lasting
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MAR | Hot Stocks10:16 EST Marriott CEO Sorsenson says had surgery in November, undergoing chemotherapy - CEO Arne Sorenson says "I feel really good."
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MAR | Hot Stocks10:12 EST Marriott: Guidance doesn't reflect any impact from coronavvirus
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MAR | Hot Stocks10:03 EST Marriott CEO says 'still a great deal we do not know' about coronavirus - Comments taken from Q4 earnings conference call.
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MRNA | Hot Stocks10:03 EST Moderna trading resumes
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SPCE | Hot Stocks10:00 EST Virgin Galactic falls -21.7% - Virgin Galactic is down -21.7%, or -$6.25 to $22.50.
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PLAN | Hot Stocks10:00 EST Anaplan falls -22.0% - Anaplan is down -22.0%, or -$12.76 to $45.33.
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EQM | Hot Stocks10:00 EST EQT Midstream Partners falls -24.1% - EQT Midstream Partners is down -24.1%, or -$5.18 to $16.33.
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DWT | Hot Stocks10:00 EST Britannia Bulk rises 13.0% - Britannia Bulk is up 13.0%, or 85c to $7.38.
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TDOC | Hot Stocks10:00 EST Teladoc rises 19.3% - Teladoc is up 19.3%, or $22.54 to $139.40.
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GCAP | Hot Stocks10:00 EST Gain Capital rises 66.0% - Gain Capital is up 66.0%, or $2.33 to $5.86.
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MRNA | Hot Stocks09:58 EST Moderna trading halted, volatility trading pause
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BUD | Hot Stocks09:53 EST AB InBev says impact of COVID-19 reflected in current guidance - Says will be "even stronger" in China once the COVID-19 crisis is over.
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VIR | Hot Stocks09:50 EST Vir jumps 75% to $61.09 despite Baird downgrade as coronavirus spreads
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SPCE | Hot Stocks09:47 EST Virgin Galactic falls -16.1% - Virgin Galactic is down -16.1%, or -$4.62 to $24.13.
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CLR | Hot Stocks09:47 EST Continental Resources falls -28.4% - Continental Resources is down -28.4%, or -$5.90 to $14.88.
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COE | Hot Stocks09:47 EST China Online Education trading resumes
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PLAN | Hot Stocks09:47 EST Anaplan falls -25.8% - Anaplan is down -25.8%, or -$14.99 to $43.09.
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REZI | Hot Stocks09:47 EST Resideo rises 17.2% - Resideo is up 17.2%, or $1.46 to $9.97.
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TDOC | Hot Stocks09:47 EST Teladoc rises 19.5% - Teladoc is up 19.5%, or $22.81 to $139.67.
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GCAP | Hot Stocks09:47 EST Gain Capital rises 66.6% - Gain Capital is up 66.6%, or $2.35 to $5.88.
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ETRN | Hot Stocks09:46 EST Equitrans Midstream trading resumes
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REZI | Hot Stocks09:46 EST Resideo Technologies trading resumes
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BUD | Hot Stocks09:44 EST AB InBev says hard seltzer a 'huge opportunity' in U.S. - Says number three in market share. Expects hard seltzer to be margin accretive in U.S. this year.
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COE | Hot Stocks09:42 EST China Online Education trading halted, volatility trading pause
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ETRN | Hot Stocks09:41 EST Equitrans Midstream trading halted, volatility trading pause
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DMRC | Hot Stocks09:40 EST Digimarc trading resumes
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REZI | Hot Stocks09:40 EST Resideo Technologies trading halted, volatility trading pause
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CRAI | Hot Stocks09:39 EST CRA International trading resumes
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QRTEA | Hot Stocks09:38 EST Qurate Retail QVC Group trading resumes
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LHCG | Hot Stocks09:37 EST LHC Group trading resumes
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VIR | Hot Stocks09:35 EST Vir Biotechnology Inc trading resumes
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CRAI | Hot Stocks09:34 EST CRA International trading halted, volatility trading pause
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QRTEA | Hot Stocks09:33 EST Qurate Retail QVC Group trading halted, volatility trading pause
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LHCG | Hot Stocks09:33 EST LHC Group trading halted, volatility trading pause
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SAGE | Hot Stocks09:31 EST Sage expects interested Zulresso sites to take nine months or longer - Sage Therapeutics said it continues to help sites of care advance through the actions required to be treatment-ready to ensure women with postpartum depression have access to a healthcare setting capable of administering Zulresso. "Based on experience during the initial six months of the Zulresso launch, Sage now anticipates the majority of interested sites will take nine months or longer to complete the actions required to be treatment ready. Many large hospital and healthcare systems are estimated to take 12 months or longer," the company added.
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VIR | Hot Stocks09:30 EST Vir Biotechnology Inc trading halted, volatility trading pause
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DMRC | Hot Stocks09:30 EST Digimarc trading halted, volatility trading pause
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SAGE | Hot Stocks09:28 EST Sage Therapeutics to announce zuranolone steps after feedback from FDA - Sage Therapeutics previously announced that a meeting with the FDA to discuss zuranolone would occur in the first quarter of 2020. The company said today that it continues to evaluate data from the MOUNTAIN Study and will announce next steps in the Landscape Program upon completion of relevant correspondence with the FDA, including receipt of meeting minutes, and determination of the development and regulatory path forward.
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HIL | Hot Stocks09:27 EST Hill International selected as project manager for Georgia hotel - Hill International announced it was awarded a contract to provide project management services for the Georgian company HPM LLC, representing Archi for a new project in the town of Kobuleti with residential, commercial, and hospitality components. The client's objective is to build more than 100,000 SM of hotel-type apartments spread over three buildings of approximately 40 floors each. The project also includes a 4-star hotel, restaurants, a ballroom, indoor and outdoor pools, a casino, and sport and entertainment facilities. Upon completion, Archi's investment will contribute significantly to the tourism industry in the Adjara region of southwestern Georgia, adding a new landmark destination to a region under continuous development. Hill will provide project management, construction management, and site supervision services across all stages of the project: design procurement and design management stage, construction management for construction and fit-out stage, and commissioning management stage.
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WHLR | Hot Stocks09:26 EST Wheeler REIT designates Stefani Carter as chairman-elect - Wheeler Real Estate Investment Trust announced that its Board of Directors has designated Stefani Carter as Chairman-Elect and appointed Daniel Khoshaba to the Executive Committee. Carter has been elected by the Board to serve as Chairman as of the conclusion of the upcoming annual meeting of shareholders. Khoshaba has been appointed to the Board and the Executive Committee, effective immediately. Mr. Khoshaba and Joe Stilwell will constitute the Executive Committee.
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BUD | Hot Stocks09:25 EST AB InBev says has 'big ambitions' for hard seltzer category - Says does not expect COVID-19 virus outbreak to impact long-term health of the business. Comments taken from Q4 earnings conference call.
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KTOS | Hot Stocks09:24 EST Kratos Defense awarded $11.5M contract to build space radio monitoring system - Kratos Defense & Security Solutions announced that it was awarded an $11.5 million contract to build an advanced space radio monitoring system for a government customer. The system will incorporate Kratos technologies and integrated products to help the country regulate and protect the satellite spectrum. As part of the multi-million dollar project, Kratos is responsible for the turnkey design, installation and integration of the advanced space radio monitoring system including the core satellite technology and associated hardware and software. The system includes a fixed site and mobile unit to monitor satellite downlinks. The scope of work includes Kratos antennas, a satellite monitoring and geolocation solution and an Unmanned Aerial Vehicle spectrum analysis solution.
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COF | Hot Stocks09:20 EST Capital One adds Eileen Serra to board - Capital One has appointed Eileen Serra to the company's Board of Directors, effective February 26. Serra will stand for election by Capital One shareholders in April 2020. Serra served in a variety of executive positions at JP Morgan Chase, including as CEO of Chase Card Services from 2012 through 2015. Most recently, from 2016 until her retirement in February 2018, she served as a Senior Advisor focusing on strategic growth initiatives. Prior to joining JP Morgan Chase, Serra was a Managing Director and Head of Private Client Banking Solutions at Merrill Lynch.
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GOVX | Hot Stocks09:19 EST GeoVax Labs to present at World Immunotherapy Congress 2020 - GeoVax Labs announced that its Chief Scientific Officer, Farshad Guirakhoo, PhD, will be a featured speaker at the World Immunotherapy Congress, being held March 2-4, 2020 in San Diego, California. Dr. Guirakhoo will deliver two presentations during the conference. The first, on March 2, is entitled Utilizing a Live Modified Vaccinia Ankara Virus to Deliver Tumor Associated Antigen MUC1 on the Surface of Virus Like Particles and will focus on GeoVax's efforts toward development of cancer immunotherapies. uring his second presentation on March 4, entitled Development of Single Dose Vaccines for Emerging Infectious Diseases Using a Novel MVA Platform, Dr. Guirakhoo will discuss the Company's design of MVA-VLP and non-VLP vaccines for Zika, Ebola, Marburg and Lassa fever vaccines, as well as results from efficacy studies in animal challenge models. During this presentation, Dr. Guirakhoo also expects to give a current update on the Company's collaboration with BravoVax, based in Wuhan, China, on use of GeoVax's vaccine technology platform and expertise to develop a vaccine for prevention/control of the novel coronavirus disease. GeoVax's Modified Vaccinia Ankara Virus Like Particles platform technology is built on a proprietary MVA vector system that is optimized for high expression and stable transgenes during manufacture. Similar to its parent MVA, it has the advantages of being a live replication-competent vector in avian cells for manufacturing, yet replication-deficient in mammalian cells for vaccination, thus inherently safe. Importantly, GV-MVA-VLP vaccines elicit protective T cell as well as antibody responses in animals and humans. In non-clinical studies, GV-MVA-VLP vaccine candidates against various virus families induced strong antibody and T cell responses and conferred full protection after single dose vaccinations against lethal challenges. Single dose protection is a favourable characteristic of preventive vaccines for emerging infectious disease outbreak response, given the speed of spread of pathogens and the impracticality of multi-dose regimens in the under-resourced settings where outbreaks often occur. Built upon the GV-MVA-VLP platform, GeoVax's preventive HIV vaccine has demonstrated robust and durable immune responses in clinical trials involving more than 500 subjects and the therapeutic version of the vaccine is currently planned to be evaluated as a component in two independent phase 1 studies aimed at developing a "functional cure" for HIV infected individuals. Similar to the HIV therapeutic approach where a combination of drugs and vaccine platforms will be required to potentially cure chronically infected individuals, GeoVax expects its cancer vaccines will also be used in combination with peptide vaccines and checkpoint inhibitors which have already shown some positive effects in clinical studies.
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RVSB | Hot Stocks09:16 EST Riverview Bancorp enters trading plan with Keefe, Bruyette & Woods - The Board of Directors of the Company authorized management to enter into a trading plan with Keefe, Bruyette & Woods, Inc. in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, to facilitate repurchases of its common stock pursuant to the above mentioned stock repurchase program. The Rule 10b5-1 plan would allow the Company to execute trades during periods when it would ordinarily not be permitted to do so because it may be in possession of material non-public information, because of insider trading laws or self-imposed trading blackout periods. Under the Rule 10b5-1 plan, Keefe, Bruyette & Woods, Inc. would have the authority, under the prices, terms and limitations set forth in the Rule 10b5-1 plan, including compliance with Rule 10b-18 of the Act, to repurchase shares on the Company's behalf.
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RVSB | Hot Stocks09:15 EST Riverview Bancorp announces stock repurchase program up to 500k shares - Riverview Bancorp announced that its Board of Directors has adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to 500,000 shares of the Company's outstanding shares, in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on March 12, 2020 continuing until the earlier of the completion of the repurchase or the next six months, depending upon market conditions.
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EQR | Hot Stocks09:14 EST Equity Residential CIO Alan George to retire, Alexander Brackenridge to succeed - Equity Residential announced that Alan George, executive VP and CIO, will step down as CIO on September 1 and retire in early 2021. The company also announced that Alexander Brackenridge, the company's executive VP, investments, will become CIO effective September 1. Brackenridge has served as the company's VP since 2015 and prior to that held various acquisitions and asset management positions within the company beginning in 1993.
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ADXS | Hot Stocks09:13 EST Advaxis announces clinical data of ongoing Phase 1/2 ADXS-503 trial - Advaxis announced updated results from the combination arms of the Company's ongoing Phase 1/2 study investigating ADXS-503 in patients with non-small cell lung cancer at the Immuno-oncology 360 degrees Conference in New York, New York. The trial is evaluating ADXS-503, part of the Company's ADXS-HOT cancer-type specific immunotherapy program which leverages Advaxis' proprietary Lm technology platform to target hotspot mutations that commonly occur in specific cancer types as well as other proprietary, tumor-associated antigens, alone and in combination with KEYTRUDA, Merck's anti-PD-1 therapy. Key findings presented by Dr. Andres Gutierrez, Chief Medical Officer of Advaxis, include: Demonstrated substantial tumor shrinkage in the first two evaluable patients in the combination arm, Part B; with one patient who achieved a partial response and the other patient who achieved stable disease with 25% reduction in a target lesion. These new data build upon previous results presented at the IASLC 2020 Targeted Therapies of Lung Cancer Meeting from seven evaluable patients demonstrating: 50% of evaluable patients from the monotherapy arm, from Part A, showed stable disease. ADXS-503 monotherapy and in combination with pembrolizumab appeared safe and tolerable in this heavily pretreated population of patients with no dose limiting toxicities observed. The Phase 1/2 clinical trial of ADXS-503 will seek to establish the recommended dose, safety, tolerability and clinical activity of ADXS-503 administered alone and in combination with a checkpoint inhibitor in approximately 50 patients with NSCLC, in at least five sites across the U.S. The two dose levels with monotherapy in Part A, have been completed and Part B in combination with a checkpoint inhibitor is currently open to enrollment.
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GILD... | Hot Stocks09:13 EST Fly Intel: Pre-market Movers - HIGHER: Gilead (GILD), up 7% after announcing the initiation of two Phase 3 clinical studies to evaluate the safety and efficacy of remdesivir in adults diagnosed with COVID-19, or novel coronavirus... Sorrento Therapeutics (SRNE), up 1% after announcing it has initiated a clinical and manufacturing collaboration with Celularity to expand the therapeutic use of Celularity's CYNK-001, an allogeneic, off-the-shelf, placental-derived Natural Killer cell therapy, to the treatment and prevention of coronavirus infections. UP AFTER EARNINGS: Square (SQ), up 6%... Etsy (ETSY), up 9%. DOWN AFTER EARNINGS: AB InBev (BUD), down 9%... Discovery (DISCA), down 6%... QEP Resources (QEP), down 19%... Anaplan (PLAN), down 32%... Portola Pharmaceuticals (PTLA), down 15%. ALSO LOWER: Tesla (TSLA), down 6% after Bloomberg reported registrations of new Teslas in China plunged 46% last month as the coronavirus outbreak adds to a slump in the country's car market... Virgin Galactic (SPCE), down 16% after Morgan Stanley analyst Adam Jonas downgraded shares to Equal Weight from Overweight and Credit Suisse analyst Robert Spingarn also downgraded the stock to Neutral from Outperform.
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GEVO | Hot Stocks09:12 EST Gevo secures funding from Queensland W2B fund - Gevo has been awarded part of The Queensland Waste to Biofutures Fund to support the development of waste to biofutures projects in Queensland, Australia. The W2B fund provides targeted funding for pilot, demonstration or commercially scalable biorefinery projects in Queensland that use conventional waste streams or biomass to produce bioenergy, biofuels and high-value bioproducts. Gevo supplied the renewable fuel used in Virgin Australia's trial of sustainable aviation fuel at Brisbane Airport which was completed in June last year. For this project, Gevo is evaluating the most likely 2G biomass to carbohydrate conversion process to use in conjunction with its proven carbohydrate to low carbon biofuel process.
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SGLB | Hot Stocks09:10 EST Sigma Labs announces one-for-ten reverse stock split - Sigma Labs will effect a one-for-ten reverse stock split of its outstanding common stock to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq Listing Rule 5550(a)(2). The company's common stock will begin trading on the Nasdaq Capital Market on a split adjusted basis when the market opens on Friday, February 28, 2020 and will continue to trade under the symbol "SGLB." The new CUSIP number for the common stock following the reverse stock split will be 826598500. The number of shares of common stock that Sigma Labs is authorized to issue will correspondingly decrease from 22,500,000 shares to 2,250,000 shares.
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BX | Hot Stocks09:09 EST Blackstone announces strategic investment in Dealpath - Dealpath announced a strategic investment from Blackstone. The partnership will provide Dealpath with industry experience and expertise from Blackstone's real estate and innovations teams. Blackstone intends to continue building upon the Dealpath platform as a core of its data strategy and architecture empowering value creation from pipeline to portfolio management. With offices in San Francisco and New York City, Dealpath is a cloud-based deal management platform and has surpassed $5T in transactions supported on the platform with institutions across the world.
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FTNT... | Hot Stocks09:09 EST Fortinet appoints Kelly Ducourty to board of directors - Fortinet (FTNT) announced the addition of Kelly Ducourty to the company's Board of Directors, adding further depth and expertise to the Board. Kelly is a key part of the global sales organization at Google Cloud (GOOG, GOOGL), accountable for effectively growing and scaling the organization to compete and win in the cloud hyper growth market.
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RST | Hot Stocks09:07 EST Lexia Learning awarded research-based design product certification - Lexia Learning, a Rosetta Stone Inc. company, has earned the Research-Based Design product certification from Digital Promise for its personalized literacy solution, Lexia Core5 Reading. This new product certification is intended to serve as rigorous, reliable testimony for administrators, educators, and families searching for vetted, research-based educational technology products.
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RF | Hot Stocks09:06 EST Regions Bank to acquire Ascentium Capital from Warburg Pincus, terms undisclosed - Regions Bank announced that it has entered into a definitive agreement to acquire Ascentium Capital from Warburg Pincus. Ascentium Capital, headquartered in Kingwood, Texas, is an independent equipment finance lender in the United States with approximately $2B in loans and leases as of year-end and originations of $1.5B in 2019. Partnering with nearly 4,000 manufacturers, dealers and distributors to finance equipment for small business customers, Ascentium Capital offers financing solutions through more than 460 employees. The addition of Ascentium Capital expands Regions' current offerings for small business customers and the bank's established equipment finance and commercial banking businesses serving middle market and large companies. The transaction provides Regions with an equipment finance organization with same-day credit decisions and funding for small business customers. The transaction is expected to close during Q2, subject to satisfaction of customary closing conditions. Financial terms are not disclosed.
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MDP | Hot Stocks09:06 EST Meredith names Jason Frierott CFO - Meredith announced that Jason Frierott has been named VP and CFO, effective March 9. He succeeds Joe Ceryanec, who is retiring effective March 31. Frierott joins Meredith following 21 years at GE, including more than 10 years as a CFO for several of GE's large business units.
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DSX | Hot Stocks09:05 EST Diana Shipping announces sale of capesize dry bulk vessel m/v Norfolk - Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2002-built vessel "Norfolk", with delivery to the buyer latest by April 6, 2020, for a sale price of $8.75M before commissions.
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BAESY | Hot Stocks09:05 EST BAE Systems receives $126M task order from U.S. Marshals Service - The U.S. Marshals Service, or USMS, a component of the U.S. Department of Justice, has selected BAE Systems for a $126M task order to provide mission critical sustainment and engineering services to the USMS' Information Technology Division. Through this task order, BAE Systems will provide IT infrastructure engineering, deliver full lifecycle operations, and execute comprehensive portfolio management. The company will also provide service desk support and modernize IT tools and capabilities through cloud service innovations and process improvement.
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ANPC | Hot Stocks09:05 EST AnPac Bio files provisional coronavirus detection patent - AnPac Bio has filed a provisional patent application on the use of AnPac Bio's novel detection technology, methods and apparatus for coronavirus detection with the USPTO on February 10, which could later lead to formal patent applications in China and other countries. AnPac Bio has entered into a project cooperation agreement with a hospital in China to conduct research studies on the ability of AnPac Bio's Cancer Differentiation Analysis technology to detect the risk of coronavirus.
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TEDU | Hot Stocks09:04 EST Tarena CFO Dennis Yuduo Yang resigns, Kelvin Wing Kee Lau to succeed - Tarena announced that it has appointed Kelvin Wing Kee Lau as the company's CFO, effective on March 1. Lau succeeds Dennis Yuduo Yang, who has resigned from the company and will assist with the transition for a short period of time. Prior to joining Tarena, Lau was the CFO of Square Panda, a U.S.-based AI education start-up company, between July 2018 and August 2019.
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JCP | Hot Stocks09:04 EST J.C. Penney sees FY20 credit income in line with FY18 - Comments taken from Q4 earnings conference call.
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FMX | Hot Stocks09:04 EST Femsa CEO says Q4 was 'eventful' - Eduardo Padilla, FEMSA's CEO, commented: "The fourth quarter was an eventful one. OXXO continued to grow at a steady pace in Mexico, and the international operations again performed well. The Health division had a complex quarter driven by disruptions in Chile, but we saw solid progress in every other market, while the Fuel division again delivered profitability gains in a challenging environment. For its part, Coca-Cola FEMSA continued to see good volume trends in Brazil and Central America, and healthy pricing across most of its markets, including Mexico. As we look at 2020, we see a consumer in Mexico that remains resilient, particularly in the northern part of the country. We are optimistic about Brazil, where we are seeing good performance in our existing operations and have high expectations for our new ventures. And on the strategic front, we are pleased with the opportunities we are being able to invest in, focused always on our operational capabilities and exercising discipline with a view to create long-term value for all our stakeholders."
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WFC | Hot Stocks09:03 EST Wells Fargo CFO says coronavirus likely to impact business environment
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PTON | Hot Stocks09:02 EST Peloton and NMPA settle litigation, enter into collaboration agreement - Peloton and the National Music Publishers' Association, NMPA, the trade association representing all American music publishers and their songwriting partners, have fully settled the litigation brought last year by 14 NMPA members. In addition, Peloton and the trade association have entered into a joint collaboration agreement and will work together to further optimize Peloton's music licensing systems and processes.
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SNPS | Hot Stocks09:01 EST Synopsys announces $100M accelerated share repurchase plan - Synopsys announced that it has entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association to repurchase an aggregate of $100M of Synopsys stock. Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 563K shares, with the remainder, if any, to be settled on or before May 15, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on the average of Synopsys' daily volume-weighted average share prices during the repurchase period, less a discount.
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GRIL | Hot Stocks09:00 EST Muscle Maker signs agreement with delivery-only kitchen provider - Muscle Maker announced it has signed a 10 location agreement with a delivery-only kitchen provider. The delivery-only kitchen concept has already opened facilities in several key markets. Muscle Maker plans to open its first five delivery-only kitchens in the Chicago market this April and has sights on other major metropolitan markets for future growth. The rapid expansion into new markets provides a great opportunity to not only grow overall brand recognition, but to also generate significant revenue for the company at a low capital cost.
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IPIX | Hot Stocks08:59 EST Innovation Pharmaceuticals to ship brilacidin to Regional Biocontainment Lab - Innovation Pharmaceuticals announced the Company signed a Material Transfer Agreement with one of the country's 12 Regional Biocontainment Labs to research its lead defensin mimetic drug candidate, Brilacidin, as a potential novel coronavirus treatment. As disclosed last week, the Company has been receiving inquiries about the potential to use a defensin mimetic to meet an urgent global need to treat COVID-19, the new coronavirus outbreak that began in Wuhan, China, in December and has spread to 48 countries without any effective approved therapies. Now the MTA has been signed, the first shipments of Brilacidin will be made to the RBL in the coming days. Under terms of the agreement, scientific research partners at the RBL plan to evaluate Brilacidin's potential antiviral and anti-inflammatory properties in the context of viral infections, including inhibition of SARS-CoV-2, the virus responsible for COVID-19. Mechanism of action studies of Brilacidin, along with assessing possible synergistic effects with other antivirals, are also planned. It is anticipated these tests might be completed within several weeks of the RBL's receipt of Brilacidin. Brilacidin is one of the few drugs targeting COVID-19 that has been tested in clinical trials for other clinical indications. Innovation Pharmaceuticals continues to explore additional research collaborations and funding opportunities with leading U.S. and Asian-based virology laboratories, global public health coalitions, and rapid-response government-backed efforts.
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NRG | Hot Stocks08:57 EST NRG Energy sees FY20 adjusted EBITDA $1.9B-$2.1B - Sees FY20 adjusted cash from operations $1.45B-$1.65B.
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WEYL | Hot Stocks08:57 EST Weyland Tech launches CreateApp marketing campaign across Indonesia - Weyland Tech has partnered with Indosat Ooredoo to launch a nationwide marketing campaign for Weyland's CreateApp mCommerce platform. To drive signups, Indosat will offer the more than 6 million small and medium sized businesses in its nationwide subscriber network a 30-day free trial subscription to CreateApp. Indosat's internal sales teams will lead the effort, with its customer service supporting the end-users. Indosat SMB customers who subscribe to CreateApp will be billed through their Indosat cell phone bills. Weyland will provide Indosat an ad channel on CreateApp via Google AdMob. The CreateApp platform-as-a-service enables businesses to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background.
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NRG | Hot Stocks08:57 EST NRG Energy reports Q4 adjusted EBITDA $384M - NRG Energy reported full year 2019 income from continuing operations of $4.1B, or $16.81 per diluted common share. This increase in income from continuing operations is driven by the release of a $3.5B tax valuation allowance due to continuing evidence of historical and forecasted positive earnings. Adjusted EBITDA for the full year 2019 was $2B, cash from continuing operations was $1.4B and FCFbG was $1.2 billion. Cash from continuing operations and FCFbG were impacted by certain cash receipts previously expected in 2019, which are now expected to be received in 2020. "Our integrated platform delivered another year of stable financial and operational results," said Mauricio Gutierrez, NRG President and CEO. "The strength of our business model provides the financial flexibility to continue perfecting our platform while consistently returning significant capital to our shareholders."
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SOLO | Hot Stocks08:56 EST ElectraMeccanica engages BDO for U.S. assembly facility search - ElectraMeccanica Vehicles has engaged BDO USA's Site Selection & Business Incentives Practice, to lead the Company's search for an assembly facility and engineering technical center in the United States. After a nationwide review of potential locations that matched ElectraMeccanica's criteria, BDO has identified seven states as finalists and sent initial request for proposals to the chief economic development entities in each of Arizona, Colorado, Florida, North Carolina, South Carolina, Tennessee and Texas. The leading location and backup sites are expected to be announced in the third quarter of 2020. ElectraMeccanica intends to maintain a capital-light model and begin commercial production and delivery of its flagship, single-seat, three wheeled SOLO EV during 2020 with its contract manufacturing partner and strategic investor, Zongshen Industrial Group, in Chongqing, China. In conjunction with the proposed new ElectraMeccanica U.S. facility, Zongshen will continue to manufacture SOLO EVs for the global market, while also supplying knock-down kits for assembly in the United States. The proposed new U.S. facility is expected to employ up to 200 people and feature a state-of-the art engineering technical center. Collectively, the operation would be expected to meet the growing demand for SOLO EVs throughout the United States, where EVs are expected to exceed more than 30% of all passenger vehicles by 2040. In addition, the proposed new U.S.-based facility would allow ElectraMeccanica to reduce or potentially eliminate tariffs, as well as benefit from logistical efficiencies.
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WFC | Hot Stocks08:55 EST Wells Fargo CFO sees short-term costs in line with current run rate
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WFC | Hot Stocks08:55 EST Wells Fargo CFO says too early to give specific expense guidance
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WFC | Hot Stocks08:54 EST Wells Fargo sees NII down mid-single digits in 2020 vs. 2019 - Comments taken from the Credit Suisse US Financial Services Conference.
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GNSS | Hot Stocks08:54 EST Genasys receives $1.8M in orders for LRAD-100x, LRAD 950RXL devices - Genasys announced it received $1.8M in orders for portable LRAD 100X and remotely operated LRAD 950RXL acoustic hailing devices. The portable AHDs are being deployed for homeland security applications. The remotely operated LRAD systems are scheduled to be installed on large dams and at oil & gas facilities for critical infrastructure protection.
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PLAN | Hot Stocks08:53 EST Anaplan says Q4 billings growth not reflective of opportunity - Anaplan is speaking on its earnings call.
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PLAN | Hot Stocks08:52 EST Anaplan says management changes impacted billings growth in Q4 - Anaplan is speaking on its earnings call.
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PDSB | Hot Stocks08:51 EST PDS Biotechnology commences work under Farmacore collaboration - PDS Biotechnology announced commencement of work under an Amended and Restated Material Transfer Agreement with Farmacore Biotechnology, experts in infectious diseases, to develop a novel tuberculosis immunotherapy based on Farmacore's proprietary TB antigens and PDS Bio's Versamune platform technology. The prior Material Transfer Agreement under which preliminary work commenced was Amended and Restated in December 2019 due to promising early pre-clinical results and to progress this next phase of development. In preliminary evaluations, Versamune based product demonstrated highly promising in-vivo TB-specific T-cell induction. The collaboration will focus on evaluation and optimization of efficacy in in-vivo pre-clinical models. Under terms of the agreement, PDS Biotech will undertake product development and Farmacore will conduct studies to evaluate efficacy of the formulated product.
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DISCA | Hot Stocks08:48 EST Discovery says has insurance policy in case Olympics are cancelled
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EVSI | Hot Stocks08:47 EST Electrify America invests $2M in Envision Solar infrastructure - Electrify America is investing $2M in solar-powered electric vehicle charging stations in rural California that are not tied to the electrical grid. The investment will expand access to sustainable EV charging to drivers in rural areas, including the Central, Coachella, and Imperial Valleys. Electrify America is sourcing the chargers from Envision Solar, a San Diego-based sustainable technology company. The EV ARC 2020 is a transportable, solar-powered electric vehicle-charging infrastructure product. Each standalone station is equipped with a 4.28-kilowatt sun-tracking solar array, 32kWh of on-board battery storage, and two Electrify America Level 2 EV chargers capable of charging speeds up to 6kW. This combination allows for two customers to charge their vehicles at the same time using 100 percent renewable electricity - regardless of weather or time of day.
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JCP | Hot Stocks08:47 EST J.C. Penney CEO says 'we are rebuilding a brand' - Comments taken from Q4 earnings conference call.
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WLL | Hot Stocks08:47 EST Whiting Petroleum sees FY20 production 40.9-43.3 MMBOE - The company said, "Whiting projects all-in 2020 capital spending of $585-$620 million. Of the total, approximately 90% is planned to be allocated to drilling and completion activity based on the mid-point of guidance. Average well cost in the Williston Basin for 2020 is estimated at $6.6 million. The Company's estimated average well cost includes an increase of $300,000 per well for additional proppant, which the Company's analysis indicates could further enhance well productivity. This change represents a 10% decrease pre-optimization and a 6% decrease post-optimization, primarily due to enhanced operational efficiency and service cost reductions. Whiting projects a rate of return greater than 30% on its 2020 drilling plan. The plan is partially protected from commodity price decreases as the Company proactively entered into hedge agreements on upward price spikes. Currently, 45% of Whiting's 2020 oil production is hedged at an average weighted floor price of approximately $55 NYMEX. This compares to approximately 11% hedged at the end of the third quarter. The Company's capital spend is projected to deliver full-year total production of 111,700 to 118,400 BOE per day and full-year oil production of 68,100 to 72,000 barrels of oil (BO) per day. Total production is forecasted to increase slightly from the fourth quarter of 2019 to the fourth quarter of 2020. The Company plans to run three rigs and two to three completion crews throughout the year. With these resources, Whiting expects to put on production 122 gross wells during 2020."
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LOAN | Hot Stocks08:46 EST Manhattan Bridge Capital board authorizes stock repurchase up to 100k shares - Manhattan Bridge Capital announced that its Board of Directors has authorized a common stock repurchase plan allowing the buyback of up to 100,000 common shares in market or off-market transactions at prevailing prices over the next twelve months. The manner, timing and number of shares purchased will be at the Company's discretion.
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DISCA | Hot Stocks08:46 EST Discovery says continuing to prepare for 2020 Olympics
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AGFAF SPRWF | Hot Stocks08:45 EST Agraflora Organics engages John Fowler to drive asset commercialization - AgraFlora Organics welcomed John Fowler, founder of 7ACRES and former President and CEO of the Supreme Cannabis Company, Inc. (SPRWF) from 2014 to 2019. John Fowler is the principal of Blaise Ventures Inc., a full-service consulting firm that has been engaged by the Company to support the execution of its strategic priorities to license, operationalize and solidify a path to profitability for the Company's key assets including: Propagation Services Canada, Edibles & Infusions, AAA Heidelberg and Farmako. John and his team will further assist AgraFlora's management team in identifying, evaluating and executing on accretive corporate opportunities including potential acquisitions, dispositions or new revenue channels in domestic or international markets. To date, John Fowler and Blaise Ventures have been focused on driving forward the licensing and commercialization of PSC, a large-scale greenhouse facility located in Delta, BC, as well as Edibles and Infusions, a highly automated cannabis edible facility located in Winnipeg, MB. Supported by a team equipped with deep industry experience and working directly with Health Canada, the Company expects its facilities to be licensed, operationalized and revenue generating before the end of 2020. Both PSC and Edibles & Infusions will focus first on driving revenue through wholesale transactions, thus accelerating revenue ramp-up while reducing associated selling and marketing costs. The Company will leverage John's extensive network of large and medium sized Canadian licensed producers, brands and processors to further expedite revenue generation within its wholesale model. Given the relative lack of large-scale, professional gummy manufacturing and the growing opportunity for well-priced, high-potency cannabis flower, Management believes that both PSC and Edibles & Infusions are well positioned to emerge as market disruptors when they enter revenue in Q4 2020.
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TBPMF | Hot Stocks08:42 EST Tetra Bio Pharma enters into co-development agreement with MAKScientific - Tetra Bio-Pharma announced that it has signed a co-development definite agreement with MAKScientific. This agreement provides Tetra with access to novel patented new molecules with CB1 and CB2 agonist or antagonist properties. In the long term, this agreement secures patented new drug candidates for Tetra to develop after Caumz and QIXLEEF receive marketing approval. MAKScientific has developed a pipeline of small molecule drugs that target the cannabinoid receptors as well as other targets implicated in the endocannabinoid system. Under this agreement, MAKScientific will develop new molecules that will be screened by Tetra for potential efficacy in various indications including cancer, pain and inflammation as well as other potential targets of interest to Tetra.
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JCP | Hot Stocks08:42 EST J.C. Penney intends to increase share price through operating improvements - Comments taken from Q4 earnings conference call.
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BCOR | Hot Stocks08:40 EST Blucora appoints Mark Ernst, Jana Schreuder to board of directors - Blucora announced the appointment of Mark Ernst and Jana Schreuder to the Company's Board of Directors. Both appointments are effective March 1, 2020 and increase the number of independent directors from five to seven as part of the Company's commitment to strong governance. Ernst is currently the Managing Partner of Bellevue Capital LLC, a role he assumed in 2018 after previously serving as the investment firm's Chief Executive Officer. Schreuder is an accomplished executive who recently retired in 2018 from her role as Executive Vice President and Chief Operating Officer of Northern Trust Corporation.
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INFN | Hot Stocks08:38 EST Infinera withdraws from OFC 2020 amid coronavirus - Infinera announced its decision to withdraw from participation in this year's Optical Networking and Communication Conference & Exhibition in San Diego, California due to the ongoing public health concern over the novel coronavirus. In lieu of the company's attendance at OFC, Infinera is planning a virtual event to showcase its latest innovations.
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AEY | Hot Stocks08:37 EST ADDvantage appoints Jimmy Taylor as interim president of Wireless Services - ADDvantage Technologies Group named Jimmy Taylor the Interim President of the ADDvantage Wireless Services segment, replacing Colby Empey. Colby had been leading Fulton Technologies prior to the Company's asset acquisition in January 2019 and for more than a year under the Company's ownership.
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JCP | Hot Stocks08:37 EST J.C. Penney says 'too early to quantify any impact' from coronavirus - Management said the coronavirus fluid situation that we are watching closely and it remains too early to quantify any impact. Comments taken from Q4 earnings conference call.
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LIFE | Hot Stocks08:36 EST aTyr Pharma announces publication highlighting histidyl tRNA synthetase - aTyr Pharma announced a publication highlighting the essential role that histidyl tRNA synthetase plays in the modulation of immune cell engagement in a broad range of disease states, including interstitial lung diseases. The paper, titled "Serum-circulating His-tRNA synthetase inhibits organ-targeted immune responses," was published in the journal Cellular and Molecular Immunology. In mouse and rodent models of acute inflammatory disease, researchers found that HARS administration was shown to downregulate immune response. In contrast, HARS neutralization through targeting antibodies was associated with the activation of the immune system and the perpetuation of chronic and acute autoimmune diseases, including interstitial lung diseases. aTyr's lead therapeutic candidate, ATYR1923, is currently being evaluated in a Phase 1b/2a clinical trial as a potential treatment for patients with pulmonary sarcoidosis, an ILD characterized by the formation of granulomas, clumps of inflammatory cells in the lungs. The prognosis for patients with pulmonary sarcoidosis ranges from benign and self-limiting to chronic, debilitating disease with mortality. aTyr will provide a corporate update during its upcoming fourth quarter financial and operating results conference call.
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CRDNF | Hot Stocks08:34 EST Cardinal Resources receives key water extraction permits - Cardinal Resources announced the Water Extract Permits for the Company's Namdini Gold Project in Ghana, West Africa have been granted by the Ghanaian Water Resources Commission. Water Use Permit has been granted by Water Resources Commission of Ghana to extract raw water from the White Volta River for mining and processing purposes. Water Use Permit has been granted by Water Resources Commission of Ghana to extract raw water from boreholes located within the Mining License area for mine construction and development purposes.
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CRAI | Hot Stocks08:33 EST CRA International announces CFO Chad Holmes to transition to new role - Charles River Associates announced plans to divide the responsibilities of its CFO and chief corporate development officer into two executive officer positions reporting directly to Paul Maleh, president and CEO. The plan to separate these positions comes as CRA continues to develop its corporate infrastructure in support of its ongoing growth and success. Chad Holmes, who has been CFO since 2014 and has led CRA's corporate development efforts since 2009, will transition to the new role of executive VP and chief corporate development officer. In this position, Holmes will focus full-time on CRA's capital allocation and deployment, including a continued emphasis on corporate development activities. Holmes will be responsible for adding to the breadth, depth and scale of CRA's consulting capabilities through prudent capital allocation and deployment, which may include pursuing individual and group hires, acquisitions or organic growth initiatives. Holmes will continue to serve as CFO until a successor has transitioned into the role. CRA has initiated a search for its next CFO.
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EBIX | Hot Stocks08:32 EST Ebix expects coronavirus impact 'to be minimal' - Ebix declared the possible range of impact of the Corona virus on its business. The Company declared that the primary businesses that could be impacted by the virus are travel and forex. Accordingly, the Company expects that the impact of the virus on its business is likely to be minimal. The Company also said that it expects worldwide annual revenue impact of the virus, to be in the range of less than 1% while the annual income impact could be in the range of less than 1.5%
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DLR | Hot Stocks08:31 EST Digital Realty raises quarterly dividend 4% to $1.12 per share - Digital Realty's board of directors authorized a cash dividend of $1.12 per share to common stockholders of record as of the close of business on March 17. The common stock cash dividend will be paid on March 31.
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DISCA | Hot Stocks08:31 EST Discovery says not providing FY20 OIBDA, free cash flow guidance
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DISCA | Hot Stocks08:30 EST Discovery sees Q3 Olympics-driven OIBDA loss ($200M)-($175M) - Sees loss normalizing "in a few quarters."
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CRAI | Hot Stocks08:30 EST CRA International announces $20M expanded share repurchase program - CRA announced that its board has authorized an expanded share repurchase program of $20M of CRA's common stock, in addition to the $3.5M remaining under its existing share repurchase program. CRA may repurchase shares in the open market or in privately negotiated transactions in accordance with applicable insider trading and other securities laws and regulations. The timing, amount and extent to which CRA repurchases shares will depend upon market conditions and other factors it may consider in its sole discretion.
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ADAP | Hot Stocks08:29 EST Adaptimmune sees cash, cash equivalents funding operations into 2H21 - The Company believes that its existing cash and cash equivalents and marketable securities, Total Liquidity, together with the net proceeds received from the underwritten public offering in January 2020, the additional net proceeds generated from the exercise in full of the underwriters' option in February 2020 and the upfront payment received under its agreement with Astellas in January 2020, will fund the Company's current operating plan into the second half of 2021.
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ADAP | Hot Stocks08:29 EST Adaptimmune announces planned 2020 milestones - First Half of 2020: Full summary of the ADP-A2M4 Phase 1 trial at a medical conference; Safety update on Cohorts 1 and 2 of the ADP-A2AFP Phase 1 trial at a medical conference; Update on Cohort 3 of the ADP-A2AFP Phase 1 trial at a medical conference; Initiation of PD1 / PDL1 inhibitor combination trial with ADP-A2M4 in head & neck cancer; Data update from allogeneic program at a scientific meeting. Second Half of 2020: 12-month durability data from patients with synovial sarcoma from the ADP-A2M4 Phase 1 trial at a medical conference; Updates on dose escalation cohorts from the SURPASS trial at medical conferences; Update on the ADP-A2M4 Phase 1 radiation sub-study at a medical conference; Update on the ADP-A2AFP expansion cohort at a medical conference.
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ADAP | Hot Stocks08:28 EST Adaptimmune expects to launch ADP-A2M4 for sarcoma in 2022 - Based on compelling response data in synovial sarcoma from the Phase 1 trial announced in May of last year, and updated at ESMO and CTOS, the Phase 2 SPEARHEAD-1 trial was initiated with ADP-A2M4 in synovial sarcoma and myxoid/ round cell liposarcoma. The product was granted Orphan Drug Designation, for the treatment of soft tissue sarcomas, and Regenerative Medicine Advanced Therapy designation, for synovial sarcoma, by the US FDA. The Company aims to launch ADP-A2M4 for sarcoma in 2022. In January of this year, partial responses in liver, melanoma, gastro-esophageal junction, and head and neck cancers were reported. These early data in multiple indications demonstrate the potential of Adaptimmune's SPEAR T-cell platform across multiple targets and a range of solid tumors. Further updated data will be presented at upcoming medical / scientific meetings.
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DISCA | Hot Stocks08:27 EST Discovery sees 2020 next-generation business revenue over $1B
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LEVI | Hot Stocks08:27 EST Levi Strauss announces paid family leave benefit - Levi Straus announced its new paid family leave benefit for all U.S. corporate and benefits-eligible retail employees. The new policy provides up to eight weeks of paid time off per year to care for an immediate family member with a serious health condition, and extends the company's commitment to building a best-in-class workplace that supports well-being and enables its employees to take care of themselves and their family members in the moments they need it most.
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ATRA | Hot Stocks08:27 EST Atara Biotherapeutics expects to submit IND for ATA2271 in Q2 or Q3 - Atara is developing a mesothelin-targeted autologous CAR T and expects collaborators at Memorial Sloan Kettering Cancer Center to submit an Investigational New Drug application to the FDA for patients with advanced mesothelioma in the second or third quarter of 2020. ATA2271 is designed using a novel 1XX CAR co-stimulatory domain and PD-1 dominant negative receptor intrinsic checkpoint inhibition technology. Atara is also developing off-the-shelf, allogeneic CAR T immunotherapies targeting mesothelin and CD19 using its next-generation technologies and EBV T cell platform. Started preclinical IND-enabling studies for ATA3219 and ATA3271.
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ATRA | Hot Stocks08:25 EST Atara Biotherapeutics to present ATA188 Phase 1a results in 1H20/2H20 - A Phase 1a clinical study of off-the-shelf, allogeneic ATA188 in patients with progressive MS is ongoing across clinical sites in the U.S. and Australia. Atara expects to present six- and 12-month ATA188 Phase 1a clinical results for cohorts 3 and 4 in the first and second halves of 2020, respectively/ Atara retreated the first patients in the open label extension portion of the Phase 1a study; OLE design allows patients who complete one year in the Phase 1a dose-escalation portion of the study to be retreated annually using the cohort 3 dose for up to four yearsAtara plans to initiate enrollment of a randomized, double-blind, placebo-controlled Phase 1b study in patients with progressive MS in the second or third quarter of 2020. Activation of clinical study sites for the Phase 1b is ongoing with an increased number of leading MS centers expected to participate in the U.S. and Australia.
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INXN DLR | Hot Stocks08:24 EST InterXion announces shareholder approval for Digital Realty combination - InterXion (INXN) announced that its shareholders voted to approve all proposals related to the company's pending strategic stock-for-stock combination with Digital Realty (DLR) at its extraordinary general meeting held earlier. The proposals voted on and approved by InterXion shareholders at the EGM were in respect to customary Dutch transaction formalities to be taken following the completion of the exchange offer, which enable Digital Realty to become the owner of all of InterXion's business operations after successfully completing the exchange offer. InterXion and Digital Realty expect that the transaction will close in the first half of 2020, subject to completion of certain regulatory conditions, completion of the exchange offer and satisfaction of other customary closing conditions.
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RRGB | Hot Stocks08:24 EST Red Robin to review Vintage's director nominees, to buy back stock in near-term - Red Robin Gourmet Burgers issued a statement in response to the nomination by Vintage Capital Management of four director candidates to stand for election to the company's board, stating in part: "We regularly engage with our shareholders on a range of issues and value their input. Members of the Board and management team have engaged in multiple discussions with Vintage, and we intend to continue the dialogue...Given the significant undervaluation of our stock price as compared to our strategic plan, and the recent unusual trading in our stock, we intend to implement our share repurchase program in the near term pursuant to our authorization. The Red Robin Board and management team remain focused on executing the company's strategic plan while accelerating Red Robin's turnaround and transforming the business to drive value for all shareholders." The company added that the board's Nominating and Governance Committee will carefully review Vintage's proposed director nominees and present its formal recommendation regarding director candidates in the company's proxy materials for the 2020 Annual Meeting of Stockholders, the date of which has not yet been announced.
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ATRA | Hot Stocks08:23 EST Atara Biotherapeutics remains on track to initiate tab-cel BLA in 2H20 - Atara continues to progress tab-cel Phase 3 development for patients with Epstein-Barr virus-associated post-transplant lymphoproliferative disease. Atara remains on track to initiate a tab-cel biologics license application submission for patients with EBV+ PTLD in the second half of 2020. Atara plans to discuss the totality of tab-cel results with the U.S. Food and Drug Administration in a pre-BLA meeting prior to initiating the BLA submission. In the U.S. and Australia, 38 sites are available for enrollment and the Company is preparing to open additional sites in the U.S., Canada and Europe. Atara submitted clinical trial applications to several European countries in November and December 2019 to enable the opening of EU clinical sites in 2020. The Company's CTAs in the United Kingdom, Spain and Austria were recently approved. Atara recently submitted a Pediatric Investigation Plan to the European Medicines Agency. Following EMA approval of the PIP, Atara plans to submit a tab-cel EU marketing authorization application for patients with EBV+ PTLD in 2021. Atara continues to see strong tab-cel investigator, physician and patient interest and, for cases in which the Company is not able to enroll patients in its EBV+ PTLD Phase 3 clinical study, Atara is providing tab-cel to patients in need under its expanded access protocol and single patient use programs. In December 2019, Atara presented long-term clinical results for 61 patients with diverse EBV-associated diseases, including efficacy and safety data for 26 patients with relapsed/refractory EBV+ PTLD and safety findings for 35 patients with other EBV-associated diseases, from a multicenter EAP study of tab-cel at the 61st American Society of Hematology Annual Meeting & Exposition. Results from this analysis suggest a high overall response rate, short time to response and favorable estimated long-term overall survival rates for tab-cel in patients with EBV+ PTLD following hematopoietic cell transplant or solid organ transplant who have failed rituximab-based therapy. Tab-cel was shown to be generally well-tolerated in all patients with EBV+ PTLD and other EBV-associated diseases. Studies supporting potential additional tab-cel indications are also advancing . Atara expects to initiate enrollment in a tab-cel Phase 2 multi-cohort study including up to six additional ultra-rare EBV+ diseases in the second half of 2020 based on previous clinical data treating these patients. Atara enrolled the final planned patient in the Phase 1b portion of a Phase 1b/2 clinical study of tab-cel(R) in combination with Merck's anti-PD-1 therapy, KEYTRUDA, in patients with platinum-resistant or recurrent EBV-associated nasopharyngeal carcinoma.
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MYL PFE | Hot Stocks08:20 EST Mylan, Pfizer announce Sanjeev Narula as CFO of Viatris - Mylan (MYL) and Pfizer (PFE) announced that Sanjeev Narula, current CFO of Upjohn, a division of Pfizer, has been named incoming CFO of Viatris, the new company that will result from the planned combination of Mylan and Upjohn. Narula's 16-year history with Pfizer encompasses several financial leadership positions, where he has worked under the leadership of Pfizer's CFO and executive VP of business operations and global supply, Frank D'Amelio. At Upjohn, he has worked closely with incoming Viatris CEO Michael Goettler and has developed anunderstanding of financial and commercial dynamics across key geographies.
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KOP | Hot Stocks08:18 EST Koppers Holdings plans to enter the copper naphthenate market - Koppers Holdings plans to enter the copper naphthenate wood preservative market. Koppers is actively evaluating opportunities to develop in-house manufacturing capabilities of copper naphthenate to further its vertical integration business model. In addition, the company may also consider entering into supply arrangements with one or more source(s), as appropriate. This move partially fills an industry gap left by Cabot Microelectronics' previously announced decision to exit the production of pentachlorophenol. Koppers does not manufacture penta and after a careful analysis has decided against doing so due to the likelihood of increased regulatory pressure. Koppers does treat with penta and will continue to support its customers while assisting them in making the transition to a preservative choice that best fits their needs.
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ATRA | Hot Stocks08:18 EST Atara Biotherapeutics expects cash to fund operations in 2Q21 - Atara believes that its cash, cash equivalents and short-term investments as of December 31, 2019, together with the net proceeds from the "at-the-market" facility in January 2020, are sufficient to fund planned operations into the second quarter of 2021
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MYL PFE | Hot Stocks08:17 EST Pfizer, Mylan name Sanjeev Narula incoming CFO of Viatris - Mylan (MYL) and Pfizer (PFE) announced that Sanjeev Narula, current CFO of Upjohn, a division of Pfizer, has been named incoming CFO of Viatris, the new company that will result from the planned combination of Mylan and Upjohn. Upon closing, which is expected in mid-2020, Viatris will be a new champion for global health with a portfolio of approximately 3,000 brands and molecules and a commercial presence in 165 countries. Narula's strong, 16-year history with Pfizer encompasses several financial leadership positions, where he has worked under the leadership of Pfizer's CFO and Executive Vice President of Business Operations and Global Supply, Frank D'Amelio. At Upjohn, he has worked closely with incoming Viatris CEO Michael Goettler and has developed a deep understanding of financial and commercial dynamics across key geographies, including emerging markets, particularly China.
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RDUS | Hot Stocks08:17 EST Radius Health expects cash to fund operations for at least 12 months - As of December 31, 2019, Radius had $161.5 million in cash, cash equivalents, restricted cash, and marketable securities. Based upon our cash, cash equivalents and marketable securities balance as of December 31, 2019 and funds available to us through our credit facilities, we believe that, prior to the consideration of potential proceeds from partnering and/or collaboration activities, we have sufficient capital to fund our development plans, U.S. commercial and other operational activities for at least twelve months from the date of this press release.
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RDUS | Hot Stocks08:16 EST Radius Health expects to complete recruitment for EMERALD study in Q3 - The EMERALD Phase 3 study is currently enrolling patients in multiple countries and is on track to complete recruitment of 466 patients in the third quarter of 2020.
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SQNS | Hot Stocks08:15 EST Richardson RFPD enters global distribution franchise agreement with Sequans - Richardson RFPD, an Arrow Electronics company, announced that it has entered into a global distribution franchise agreement with Sequans. The global agreement covers Sequans LTE chips and modules, including solutions for IoT/ M2M, broadband/CBRS, and Sequans' associated evaluation and development kits.
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RDUS | Hot Stocks08:15 EST Radius Health expects topline data from wearABLe Phase 3 study in 2H21 - The wearABLe Phase 3 study is open for enrollment at more than 60 clinical sites in the U.S., reflecting strong interest from investigators. The Company has implemented a revised enrollment plan, added more clinical sites in the U.S., and made progress filing regulatory submissions to expand sites outside the U.S. The screen failure rate which started higher than expected at the initiation of the study is improving, driven by higher screening success at targeted bone specialty sites. Radius expects to report top-line data from the study in the second half of 2021.
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RDUS | Hot Stocks08:15 EST Radius Health expects topline data from ATOM Phase 3 study in 2H21 - Radius expects to complete recruitment of the ATOM Phase 3 Study, which is assessing the efficacy and safety of abaloparatide-SC in male osteoporosis, this year and report top-line data in the second half of 2021.
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RDUS | Hot Stocks08:14 EST Radius Health expects to achieve profitability over next three years - Over the next three years Radius expects TYMLOS revenue to grow at a greater than 20% compound annual growth rate and the Company to achieve profitability.
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NTLA | Hot Stocks08:11 EST Intellia Therapeutics announces upcoming milestones - The Company has set forth the following for pipeline progression: ATTR: Submit IND application for NTLA-2001 in mid-2020; Dose first patients in 2H 2020. AML: Submit IND application for NTLA-5001 in 1H 2021. HAE: Nominate a development candidate in 1H 2020. R&D Advancements: Present preclinical data at upcoming scientific conferences in 2020.
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USPH | Hot Stocks08:11 EST U.S. Physical Therapy completes $12.2M acquisition of physical therapy practice - U.S. Physical Therapy announced that the company just completed the acquisition of a four clinic physical therapy practice. USPH acquired approximately 65% of the equity interests with the practice's founders and associates retaining approximately 35%. The purchase price was $12.2M. The business generates more than $6.6M in annual revenue and has approximately 53,000 patient visits per year.
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NTLA | Hot Stocks08:10 EST Intellia expects cash, cash equivalents to fund expenses through end of 2021 - Intellia expects that its cash, cash equivalents and marketable securities as of December 31, 2019 will enable the Company to fund its anticipated operating expenses and capital expenditure requirements at least through the end of 2021. This expectation excludes any strategic use of capital not currently in the Company's base-case planning assumptions.
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MYL PFE | Hot Stocks08:09 EST Mylan, Pfizer announce remaining appointees to Viatris board - Mylan (MYL) and Pfizer (PFE) announced the remaining appointees to the inaugural 13-member board of directors for Viatris, the new company that will result from the combination of Mylan and Upjohn, a division of Pfizer, which is expected to occur in mid-2020, subject to receipt of regulatory approvals, Mylan shareholder approval, and the satisfaction of other customary closing conditions. In addition to the previously announced Pfizer-designated appointments of Ian Read and Jim Kilts, Pfizer has appointed current Pfizer board member Don Cornwell, who will resign from the Pfizer board to serve as a director of Viatris upon the close of the transaction. Additionally, Mylan has appointed eight of its own directors to serve on the Viatris board, including JoEllen Lyons Dillon, Neil Dimick, Melina Higgins, Harry Korman, Rajiv Malik, Richard Mark, Mark Parrish and Pauline van der Meer Mohr. As previously announced, the board of Viatris will also include Viatris executive chairman Robert Coury and Viatris CEO Michael Goettler.
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JWCAF | Hot Stocks08:09 EST James E Wagner Cultivation signs MoU with CannNext - James E. Wagner Cultivation announced that it has entered into a Memorandum of Understanding, pursuant to which JWC will assist CannNext with its tender to the Government of the Netherlands for a licence to produce medical cannabis in the Netherlands. In support of CannNext's Tender, JWC has provided certain necessary commitments and attestations required by the Government of the Netherlands. In addition, in connection with the Tender process and, if the Tender is successful, the resulting anticipated production of medical cannabis in the Netherlands, JWC will provide CannNext with industry knowledge and experience related to the cultivation and production of medical cannabis for a consumer market. The MOU outlines the parties' intention to collaborate in developing cannabis cultivation best-practices. This will involve research and development related to strains, grow methods and lighting practices. JWC and CannNext also intend to negotiate a definitive agreement pursuant to which CannNext will agree to represent JWC in the Netherlands and the European Union for licensing of JWC's GrowthSTORM technology. JWC will also acquire a minority equity position in CannNext. CannNext is focused on the research and development related to improving yields for controlled medical cannabis cultivation both for and with its own clients. CannNext's state-of-the-art government licensed, research facility is also located in the Netherlands, and can be immediately converted to production.
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RKDA | Hot Stocks08:08 EST Arcadia Biosciences awarded patent for high fiber wheat - Arcadia Biosciences announced the U.S. Patent and Trademark Office has awarded the company a patent for a yield-improving allele for high fiber, resistant starch wheat. This innovation, which represents the latest patent in Arcadia's GoodWheat portfolio of non-genetically modified wheat varieties, was developed through ArcaTech, the company's proprietary technology platform.
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RGEN BIIB | Hot Stocks08:07 EST Repligen appoints Rohin Mhatre to board of directors - Repligen Corporation (RGEN) announced the appointment of life sciences industry executive Rohin Mhatre, Ph.D., to its Board of Directors. Dr. Mhatre brings to the director role over 25 years of relevant experience, which includes his current position as Senior Vice President, Product and Technology Development for Biogen (BIIB).
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DISCA | Hot Stocks08:07 EST Discovery CEO David Zaslav says company is a 'free cash flow machine' - Comments taken from Q4 earnings conference call.
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CRIS | Hot Stocks08:06 EST Curis announces $30M common stock purchase agreement with Aspire Capital - Curis announced that it has entered into a common stock purchase agreement of up to $30M with Aspire Capital Fund. Under the terms of the Agreement, Aspire Capital has made an initial investment of $3M via purchase of 2,693,965 common shares of Curis. In addition, Aspire Capital has committed to purchasing up to $27M of common shares of Curis, at Curis' request from time to time during a 30-month period at prices based on the market price at the time of each sale, subject to certain limits. There are no warrants, derivatives, or other share classes associated with this Agreement. Curis will control the timing and amount of the further sale of its common shares to Aspire Capital.
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ZGNX | Hot Stocks08:06 EST Zogenix announces FDA extension of review period for FINTEPLA - Zogenix announced that the U.S. Food and Drug Administration (FDA) has extended the review period for the New Drug Application for FINTEPLA for the treatment of seizures associated with Dravet syndrome. The new Prescription Drug User Fee Act target action date has been extended by three months to June 25, 2020. The extension allows the FDA time to review additional data submitted by Zogenix in response to a recent information request from the FDA. The FDA determined that the submission of this information constituted a major amendment to the NDA, resulting in this extension of the PDUFA goal date by three months. The NDA for FINTEPLA was originally accepted for filing in November 2019 under the FDA's Priority Review program with a six-month review period, and is based on data from two positive pivotal Phase 3 trials in Dravet syndrome and an interim analysis from an ongoing open-label extension study, which included 232 patients treated for up to 21 months.
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MYL PFE | Hot Stocks08:05 EST Mylan, Pfizer finalize appointments to Viatris Board of Directors - Mylan (MYL) and Pfizer (PFE) announced the remaining appointees to the inaugural 13-member Board of Directors for Viatris, the new company that will result from the combination of Mylan and Upjohn, a division of Pfizer, which is expected to occur in mid-2020, subject to receipt of regulatory approvals, Mylan shareholder approval, and the satisfaction of other customary closing conditions. In addition to the previously announced Pfizer-designated appointments of Ian Read and Jim Kilts, Pfizer has appointed current Pfizer board member W. Don Cornwell, who will resign from the Pfizer board to serve as a director of Viatris upon the close of the transaction. Additionally, Mylan has appointed eight of its own directors to serve on the Viatris Board of Directors, including JoEllen Lyons Dillon, Neil Dimick, Melina Higgins, Harry A. Korman, Rajiv Malik, Richard A. Mark, Mark W. Parrish and Pauline van der Meer Mohr. As previously announced, the Board of Directors of Viatris will also include Viatris Executive Chairman Robert J. Coury and Viatris CEO Michael Goettler.
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RARE | Hot Stocks08:05 EST Ultragenyx, Kyowa Kirin announce FDA acceptance of sBLA for Crysvita - Ultragenyx Pharmaceutical and Kyowa Kirin announced that the U.S. Food and Drug Administration has accepted for review the supplemental Biologics License Application for Crysvita for the treatment of FGF23-related hypophosphatemia associated with phosphaturic mesenchymal tumors that cannot be curatively resected or localized. The FDA has assigned priority review designation with a Prescription Drug User Fee Act target date of June 18, 2020. The sBLA package includes data from two single-arm Phase 2 studies, a 144-week study in 14 adult patients conducted by Ultragenyx in the U.S. and an 88-week study in 13 adult patients conducted by Kyowa Kirin in Japan and South Korea. Crysvita is approved by the U.S. FDA for the treatment of X-linked hypophosphatemia in adult and pediatric patients six months of age and older, and by Health Canada and Brazil's National Health Surveillance Agency for the treatment of XLH in adult and pediatric patients one year of age and older. In Japan, it is approved by the Ministry of Health, Labor and Welfare for the treatment of FGF23-related hypophosphatemic rickets and osteomalacia. In Europe, Crysvita has received European conditional marketing authorization for the treatment of XLH with radiographic evidence of bone disease in children 1 year of age and older and adolescents with growing skeletons, and an application for the expanded use in adults with XLH is currently under review by the European Medicines Agency.
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FLIR | Hot Stocks08:03 EST Flir Systems to consolidate three business units into two - In connection with Project Be Ready, Flir will restructure its business units by consolidating from three business units to two. The company has also discontinued certain non-core consumer centric product lines within the OTS business and has entered into a formal process to evaluate divestiture of our Raymarine non-thermal maritime electronics business. The remaining businesses within the commercial business unit will be consolidated with the industrial business unit.
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AKAM | Hot Stocks08:03 EST Akamai acquires customers, certain intellectual property from Instart - Akamai Technologies announces it has closed an asset purchase transaction with Palo Alto, California-based Instart to acquire customer contracts and intellectual property. Akamai intends to expeditiously transition the acquired customers to Akamai's platform. The acquired IP is expected to benefit the development of Akamai's page integrity solution. New customers are expected to be rapidly migrated to the Akamai Intelligent Edge platform. The acquisition is immaterial to the company's financial results and is not anticipated to negatively affect the company's operating margin target.
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SWTX BGNE | Hot Stocks08:00 EST MapKure, SpringsWorks, BeiGene initiate Phase 1 trial of BGB-3245 - MapKure, together with BeiGene, Ltd. (BGNE) and SpringWorks Therapeutics, Inc. (SWTX), who are joint owners of MapKure, announced that the first patient has been dosed in Australia in a Phase 1 clinical trial to evaluate BGB-3245, an investigational, next-generation B-RAF inhibitor, in patients with advanced or refractory solid tumors. The companies also announced that the U.S. Food and Drug Administration has allowed the Investigational New Drug application submitted for BGB-3245 to proceed, which will enable study expansion to U.S. sites. The Phase 1 clinical trial is a first-in-human, open-label, dose escalation and expansion study to investigate the safety, pharmacokinetics and antitumor activity of BGB-3245 in adult patients with solid tumors, including those harboring specific B-RAF driver mutations and fusions that are likely to respond to a RAF dimer inhibitor, as well as in certain adult patients who have developed resistance to first-generation B-RAF V600 inhibitors. The trial is designed to define the dose and assess the tolerability of BGB-3245 and will capture early antitumor activity signals to allow for potential cohort expansion. In addition, MapKure has completed the formation of its Scientific Advisory Board, comprised of renowned leaders in MAPK pathway biology and targeted oncology clinical development. The SAB will continue to collaborate with MapKure's joint steering committee, consisting of representatives from BeiGene and SpringWorks, to support the advancement of BGB-3245.
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APT | Hot Stocks07:57 EST Alpha Pro Tech books approx. $14.1M orders for N-95 face mask - Alpha Pro Tech announced an update to the status of orders booked for APT's proprietary N-95 Particulate Respirator face mask. As previously reported, over the last month, APT has ramped up production of the company's N-95 face mask, which is manufactured by APT in the United States with material sourced domestically, in response to a significant increase in customer demand resulting from the outbreak of the coronavirus. APT has now booked approximately $14.1 million in orders for the company's N-95 face mask since January 27, 2020, an increase of $3.6 million from the $10.4 million reported as of February 13, 2020, and demand for the product remains strong. As a result of the ramp up in production, the company now expects to fulfill approximately $4.0 million of the currently booked orders in the first quarter of 2020. During the second quarter of 2020, APT expects to fulfill the remainder of the $14.1 million in currently booked orders. Furthermore, APT also expects to fulfill anticipated additional new purchase orders during the second quarter. The company's current ramp up plan is expected to be achieved by early May, which will enable the company to continue to fulfill current and expected future orders.
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QURE | Hot Stocks07:55 EST uniQure presents new preclinical data on AMT-130 - uniQure announced the presentation of multiple new preclinical data on AMT-130, its investigational AAV gene therapy for the treatment of Huntington's disease, at the 15th Annual CHDI Huntington's disease Therapeutics Conference in Palm Springs, California. Four scientific abstracts submitted by uniQure researchers were accepted for presentation at the conference, of which one is an oral presentation to be featured. Important findings across several preclinical studies presented at the conference include the following: Translatable Biomarkers in Gene Therapy for Huntington Disease: Learnings from Pre-clinical Studies In identifying translatable biomarkers for gene therapy studies in Huntington's disease, transgenic Huntington's disease minipigs were used to assess the biodistribution and target engagement in a larger brain. The minipig model is the largest diseased animal model available, generally weighing up to 300 pounds. AMT-130 was administered by MRI-guided convention-enhanced delivery at a single dose, bilaterally in the caudate and putamen. Vector DNA distribution and transgene expression in minipig brains demonstrated extensive brain coverage comparable at the two interim sacrifice timepoints of 6- and 12-months post administration, leading to significant lowering of mutant huntingtin protein in the brain. At 12 months, the most pronounced mHTT protein lowering was observed in the putamen, caudate and amygdala, followed by thalamus and cerebral cortex. The ongoing study that now includes up to two years of follow-up, demonstrated stable mHTT protein lowering of up to 30 percent in the cerebrospinal fluid of minipigs after a single administration of AMT-130. Secreted Therapeutics: Monitoring Durability of microRNA-based Gene Therapies in Huntington's disease Neurons derived from the induced pluripotent stem cells of Huntington's disease patients were used to study the presence of extracellular therapeutic microRNA targeting human huntingtin after transduction with AMT-130. Extracellular vesicles were identified as carriers of RNA species, including microRNAs, and are therefore potential biomarkers for diagnosis and pharmacokinetics. Results from this new study demonstrated that therapeutic miHTT molecules are secreted in a dose-dependent manner from AMT-130-treated neuronal cells, providing the potential of a promising translational marker to monitor long-term expression of AMT-130 gene therapy in the brain. To support these results, non-human primates received a single administration of AMT-130 resulting in widespread distribution of therapeutic miHTT molecules in both the striatum and cortex, as well as the presence of therapeutic miHTT molecules in the CSF up to 6 months after intrastriatal injection of AMT-130. Lowering the Pathogenic Exon 1 HTT Fragment by AAV5-miHTT Gene Therapy In a study using the Q175FDN mouse model, the target engagement of aberrantly spliced exon 1 HTT transcript was investigated. These new preclinical data demonstrated that the mice treated with AMT-130 experienced a dose-dependent lowering of exon 1 HTT mRNA in both the striatum and cortex, as well as the full-length HTT mRNA. The lowering was shown to be well correlated with the detected levels of vector DNA and mature miHTT molecules in the mice treated with AMT-130. Exploring the Effects of Intrastriatal AAV5-miHTT Lowering Therapy on Neuronal Function, MRS Signal and Mutant Huntingtin Levels in the Q175FDN Mouse Model of Huntington's disease Magnetic resonance spectroscopy data in the Q175FDN mouse model of Huntington's disease demonstrate that levels of N-acetyl aspartate, a neuronal integrity marker, were restored in mice treated with the high dose of AMT-130, supporting the use of imaging biomarkers in gene therapy studies for Huntington's disease. Importantly, effects of mHTT silencing in the Q175FDN model on MRS were complemented by additional data on striatal gene expression profiles, demonstrating a trend towards normalization with AMT-130 treatment. These new data build on earlier MRS and MRI data suggesting improvement in brain cell function, a reversal in Huntington's disease neuropathology and a partial reversal of volume loss in the hippocampus, a key brain region involved in memory.
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ATNX | Hot Stocks07:53 EST Athenex provides outlook on upcoming milestones - Outlook and Upcoming Milestones: Final FDA meeting for Oral Paclitaxel in metastatic breast cancer has been scheduled for early April and the Company plans to submit an NDA in the U.S. shortly thereafter. Plan to submit additional data from ongoing Phase 1 study of Oral Paclitaxel in cutaneous angiosarcoma for presentation at a medical meeting. Enroll patients in dose expansion part of Phase 1 trial of Oral Paclitaxel in combination with pembrolizumab for the treatment of advanced solid tumors.
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ATNX | Hot Stocks07:52 EST Athenex expects cash, cash equivalents to fund operations into 1Q21 - At December 31, 2019, the Company had cash, cash equivalents and short-term investments of $160.8 million, which included $7.8 million funded by New York State for the construction of the Dunkirk facility for which the company has recorded a corresponding liability, compared to $107.4 million of cash, cash equivalents and short-term investments at December 31, 2018. The amount at December 31, 2019 does not include the $30 million license fee payment the Company expects to receive as part of the expanded license agreement with Guangzhou Xiangxue Pharmaceutical. Based on the current operating plan, the Company expects that its cash and cash equivalents and short-term investments as of December 31, 2019, will enable it to fund operations into the first quarter of 2021.
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PLAN | Hot Stocks07:51 EST Anaplan sinks 26%, or $15.9, to $42.80 following Q4 results
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PLAN | Hot Stocks07:51 EST Anaplan Chief Growth Officer Mark Anderson stepping down - Anaplan announced that Mark Anderson, Chief Growth Officer, plans to step back and will no longer be an employee as he would like to spend more time with his family. The company has no plans to backfill the position. "My decision to step back from my full-time role was difficult, but at this stage in my life, I want to focus on my philanthropic endeavors and my family. I feel very honored to have worked with Anaplan as one of the fastest growing companies, and I have full confidence in this leadership team. I am grateful for the time I had in my role at Anaplan, and am truly excited for the go-to-market team and the evolution of our approach to customers that we facilitated. The foundation for long-term sustained success has never been stronger. In my new capacity, I'll remain fully committed to ensure a smooth transition." stated Mark Anderson.
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ESPR | Hot Stocks07:51 EST Esperion expects U.S. commercial launch of NEXLETOL March 30 - Three data presentations from the LDL-cholesterol lowering development program of NEXLETOL and NEXLIZET to be presented at American College of Cardiology 2020 Scientific Sessions.
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ESPR | Hot Stocks07:50 EST Esperion expects potential ROW development in April - European Commission decisions anticipated for both bempedoic acid and the bempedoic acid / ezetimibe combination tablets Marketing Authorisation Applications. Potential Rest-of-World development and commercial collaboration agreement in April.
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ESPR | Hot Stocks07:49 EST Esperion expects U.S. commercial launch of NEXLIZET in July - Sees $150M milestone payment from Daiichi Sankyo Europe.
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ESPR | Hot Stocks07:48 EST Esperion sees cash sufficient to fund operations through profitability - Esperion expects $175 million in cash proceeds from the Daiichi Sankyo Europe and Oberland Capital agreements, $150 million and $25 million, respectively. This amount does not include U.S. product sales, for which Esperion will not provide revenue guidance in 2020, E.U. royalties or upfront and/or milestone payment from a potential ROW agreement. Research and development expenses for the full year 2020 are expected to be $145 million to $155 million. Selling, general and administrative expenses for the full year 2020 are expected to be $225 million to $235 million. These amounts do not include $30 million in non-cash stock-based compensation. The increase in expected operating expenses are primarily related to the anticipated commercialization activities for NEXLETOL and NEXLIZET. Esperion expects that current cash resources, coupled with expected milestone payments under the Daiichi Sankyo Europe licensing agreement and the Oberland Capital revenue-based funding agreement, and NEXLETOL and NEXLIZET commercial net product sales are sufficient to fund operations through profitability.
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BLRX | Hot Stocks07:46 EST BioLineRx granted patent by USPTO for Motixafortide - BioLineRx announced that a Notice of Allowance has been issued by the USPTO for a patent application claiming the use of motixafortide, a novel immunotherapy compound, combined with any PD-1 inhibitor, for the treatment of any type of cancer. The PD-1 antagonist can be any agent that prevents and/or inhibits the biological function and/or expression of PD-1, such as pembrolizumab - Keytruda - . The targeted cancer can be solid, non-solid, and/or a cancer metastasis. This patent, whenmedi issued, will be valid until July 2036 with a possibility of up to five years patent term extension. Additional corresponding patent applications are pending in Europe, Japan, China, Canada, Australia, India, Korea, Mexico, Brazil and Israel.
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NDVAF | Hot Stocks07:45 EST INDIVA, Lift & Co. release branded CannSell education module - Indiva and Lift & Co. announced the release of Indiva's CannSell branded education module. The CannSell certification program, created by Lift & Co., in exclusive partnership with MADD Canada, is currently utilized in eight Canadian jurisdictions. CannSell also serves as the provincially-mandated training program for all cannabis retail workers in Ontario. These frontline staff members are responsible for educating consumers on the safe use of cannabis where it is sold. The Indiva education experience on the CannSell platform offers an overview of the Company, its product portfolio, and its commitment to quality, innovation and sustainability.
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GEC | Hot Stocks07:44 EST Great Elm Capital appoints Jason Reese, Eric Scheyer to board of directors - Great Elm Capital Group announced that on February 26, 2020, it issued $30 million in aggregate principal of 5.00% convertible senior PIK notes, due 2030. Investors in the Notes include the Company's largest existing shareholders, funds managed by Imperial Capital Asset Management and Northern Right Capital Management LP, as well as specific members of a large alternative asset manager investing in their individual capacities. The Company also announced that Jason Reese, Chairman and Chief Executive Officer of Imperial, and Eric Scheyer, partner at Magnetar Capital, will join the Company's Board of Directors. Mr. Reese will join the Board as Executive Co-Chairman alongside Co-Chairman Jeffrey Serota. In connection with the new appointments to the Board, one of the Company's existing directors, H. Steven Wilson, has submitted his resignation, effective February 25, 2020. Interest on the Notes will be payable semiannually, in kind or in cash at the Company's option. The Notes may initially be converted at the investors' option at $3.4722 per share. The Company has the right to cause all of the outstanding Notes to be automatically converted into shares of the Company's common stock, subject to certain conditions. The Notes have substantially no restrictive covenants. Proceeds from the Notes may be used for general corporate purposes, including funding future acquisitions. The Company has made meaningful progress on its pipeline of acquisition opportunities that it continues to actively pursue.
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CW | Hot Stocks07:36 EST Curtiss-Wright to acquire Dyna-Flo control valves for $62M in cash - Curtiss-Wright announced that it has entered into an agreement to acquire the stock of Dyna-Flo Control Valve Services for $62M in cash. Dyna-Flo is a leading designer and manufacturer of linear and rotary control valves, isolation valves, actuators, and level and pressure control systems for the chemical, petrochemical, and oil and gas markets. The acquired business will operate within Curtiss-Wright's Commercial/Industrial segment and is expected to be accretive to Curtiss-Wright's 2020 adjusted diluted earnings per share, excluding first year purchase accounting costs, and produce a free cash flow conversion rate in excess of 100%. Dyna-Flo's financials are not included in the company's initial 2020 guidance.
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JCP | Hot Stocks07:33 EST J.C. Penney expects FY20 SSS down 3.5%-4.5% - The Company has provided financial guidance for full year fiscal 2020, which does not include any potential impact from the current coronavirus situation, as follows: Comparable store sales: expected to be in a range of (3.5)% to (4.5)%; Cost of goods sold, as a rate of net sales: expected to improve 100 to 130 basis points compared to last year; Adjusted EBITDA dollars: expected to increase 5% to 10% compared to last year; and Free Cash Flow: expected to be positive.
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NLSN | Hot Stocks07:32 EST Nielsen sees FY20 adjusted EBITDA $1.83B-$1.91B - Sees FY20 free cash flow $530M-$580M. Says achieved or beat all key guidance metrics in FY19. Says progress towards completion of separation is well underway. Says grew board to 12 members. Says media performance delivered on growth expectations while connect performance returned to growth. Comments and guidance taken from Q4 investor presentation slides.
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JCP | Hot Stocks07:32 EST J.C. Penney expects to close at least six locations in 2020 - The Company expects to close at least six store locations in fiscal 2020. The Company will share more details of future real estate plans during its Analyst Day on April 7, 2020.
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JCP | Hot Stocks07:31 EST J.C. Penney reports Q4 SSS down 7%
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ORTX | Hot Stocks07:29 EST Orchard Therapeutics announces 2020/2021 priorities, expected milestones - 2020 / 2021 Corporate Priorities and Expected Key Milestones: Obtain approval for and launch OTL-200 for the treatment of MLD in Europe in the second half of 2020. Submit a biologics license application filing in the U.S. for OTL-200 for the treatment of MLD in late 2020 or early 2021. Initiate a rolling BLA filing in the U.S. for OTL-101 in adenosine deaminase severe combined immunodeficiency in the first half of 2020 with anticipated completion of the filing within 12 months of initiation. Prepare for BLA and marketing authorization application regulatory filings for OTL-103 in Wiskott-Aldrich Syndrome in the U.S. and EU in 2021. Release interim data from the OTL-203 proof-of-concept clinical trial in MPS-I in 2020. One-year follow-up results for the first eight patients, including the primary endpoints, are anticipated in 2021. Enroll five patients and release interim data on the first patient from the recently initiated proof-of-concept clinical trial for OTL-201 in MPS-IIIA in 2020. Initiate construction of an in-house manufacturing facility in Fremont, California in 2020.
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ORTX | Hot Stocks07:27 EST Orchard Therapeutics expects cash, investments to fund operations into 2H21 - The company expects that its existing cash, cash equivalents and investments will enable funding of its anticipated operating and capital expenditure requirements into the second half of 2021.
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CMD | Hot Stocks07:26 EST Cantel Medical names Seth Yellin as Chief Growth Officer - Cantel Medical announced that in line with its focus on key growth opportunities, Seth Yellin has been promoted to the newly created role of Executive Vice President and Chief Growth Officer. Yellin will continue to be based in Little Falls, NJ and serve on the Executive Leadership Team.
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CHS | Hot Stocks07:22 EST Chico's raises quarterly dividend 3% to 9c per share - This represents the tenth annual increase since the dividend was established in 2010. The dividend is payable on March 30 to the company's shareholders of record at the close of business on March 16.
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INTL GCAP | Hot Stocks07:16 EST INTL FCStone to acquire Gain Capital for $6.00 per share in cash - INTL FCStone Inc. (INTL) announced that it has entered into a definitive agreement to acquire GAIN Capital Holdings (GCAP), which has been approved by the Board of Directors of both INTL FCStone and GAIN. INTL FCStone has agreed to acquire GAIN for $6.00 per share in an all-cash transaction representing approximately $236 million in equity value. As part of the transaction, INTL intends to make an offer at closing to repurchase GAIN's $92 million convertible notes due 2022. GAIN's $60 million convertible notes due 2020 will be repaid from GAIN's cash on hand prior to closing. GAIN serves more than 130,000 retail and institutional investors through its FOREX.com and City Index platforms, among other channels. As a result of the combination, GAIN's customers will benefit from a richer product offering, and the expanded resources and greater scale of the combined firm. By acquiring GAIN, INTL FCStone, in turn, will add a new digital platform to its global financial network, significantly expanding its offering to retail clients, as well as a complementary futures business. The acquisition is expected to increase INTL's transaction flows and raise client float by ~$1 billion. The acquisition of GAIN's digital assets and expertise will also accelerate the digitization of INTL FCStone's platform. Sean O'Connor will continue to lead the combined firm, while GAIN CEO Glenn Stevens will continue to lead the former GAIN business within INTL FCStone. The transaction is expected to close in mid-2020, subject to approval by GAIN's stockholders, regulatory approvals and customary closing conditions. VantagePoint Capital Partners, Michael Spencer's private investment group IPGL, and Glenn Stevens, representing 44% of GAIN's outstanding voting power in aggregate, have entered into agreements to vote in favor of the transaction. Jefferies LLC is acting as exclusive financial advisor to INTL FCStone and has provided $350 million of committed debt financing for the acquisition. DLA Piper is serving as INTL's legal counsel, GCA Advisors LLC is acting as financial advisor to GAIN and Davis Polk & Wardwell LLP is serving as its legal counsel.
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CUB | Hot Stocks07:14 EST Cubic signs agreement with U.S. Special Operations Forces - Cubic announced that its Cubic Mission Solutions business division signed a cooperative research and development agreement, or CRADA, with Special Operations Forces Acquisition, Technology and Logistics (SOF AT&L) to work on research and development for cutting-edge airborne payload technologies for use within the Department of Defense. The effort will primarily be performed by ISR Systems, a wholly owned subsidiary of Cubic Corporation.
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IBP | Hot Stocks07:14 EST Installed Building Products extends stock repurchase program to March 1, 2021 - The company currently has approximately $60M of remaining availability under its stock repurchase program. The board has approved an extension of the current program, which had been scheduled to expire on February 28 and now will remain in effect until March 1, 2021, unless extended by the board. The company did not make any repurchases under the program in 2019.
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CCOI | Hot Stocks07:13 EST Cogent increases dividend 3.1% to 66c per share - Cogent approved a regular quarterly dividend of 66c per common share payable on March 27 to shareholders of record on March 13. This Q1 regular dividend represents a 3.1% increase of 2c per share from the 4Q19 regular dividend of 64c per share and an annual increase of 13.8% from the Q1 2019 dividend of 58c per share.
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KDP | Hot Stocks07:12 EST Keurig Dr Pepper CEO says 'increasing our investment behind growth drivers' - Commenting on the announcement, Keurig Dr Pepper Chairman and CEO Bob Gamgort stated, "We delivered strong performance for 2019, with underlying net sales growth in all four segments and EPS growth above our merger target range. In-market performance was healthy across our portfolio, as innovation, marketing and in-store execution drove share growth in key segments. Free cash flow continued to be robust, enabling us to rapidly delever. As we look toward 2020, we are increasing our investment behind growth drivers, leading to our expectation that revenue will accelerate above our merger targets, while still delivering double-digit EPS growth. We continue to expect that we will generate our merger target synergies of $600 million and three-year EPS growth within our target range of 15% to 17%."
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GCAP INTL | Hot Stocks07:10 EST Gain Capital to be acquired by INTL FCStone for $6.00 per share in cash - GAIN Capital (GCAP) announced it has entered into a definitive agreement to be acquired by INTL FCStone (INTL). Under the terms of the agreement, INTL FCStone will acquire the company in an all-cash transaction. The company's stockholders will receive $6.00 per share, representing approximately $236M in equity value. The transaction represents a 70% premium to the closing share price of the company's shares on February 26, and a 60% premium to the volume-weighted average price of the company's stock in the 30 trading days ending on February 26. The transaction is the result of a comprehensive strategic alternatives review process taken by the Company's Board of Directors. The transaction has been approved by GAIN's Board of Directors. In addition, VantagePoint Capital Partners, Michael Spencer's private investment group IPGL and Glenn Stevens, representing in aggregate approximately 44% of GAIN's stockholders, have entered into agreements to vote in favor of the transaction. The transaction is expected to be completed in mid-2020, subject to regulatory approvals and other customary closing conditions.
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RMED | Hot Stocks07:08 EST Ra Medical Systems enrolls first patient in DABRA excimer laser system study - Ra Medical Systems announces enrollment of the first patient in its pivotal study to evaluate the safety and effectiveness of the DABRA excimer laser system for use as an atherectomy device for the treatment of peripheral vascular stenoses.
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BBY | Hot Stocks07:06 EST Best Buy CFO says majority of coronavirus to have impact in first half of 2020 - Best Buy CFO Matt Bilunas says: "As we enter FY21, we are closely monitoring the developments related to the coronavirus outbreak. This is a very fluid situation, which makes it difficult to determine exact financial impacts from disruptions in supply chain. Based on what we know today, we have assumed the majority of the impacts occur in the first half of the year. Therefore, we view this as a relatively short-term disruption that does not impact our long-term strategy and initiatives. Our guidance ranges for both Q1 and the full year reflect our best estimates of the impacts at this time. For FY21, we expect to deliver full-year comparable sales growth in the range of flat to 2% while continuing to invest in those areas necessary to make strategic progress and deliver enhanced employee and customer experiences, as well as continuing to drive cost savings and efficiencies. We expect our gross profit rate to be approximately flat and our SG&A rate to be up slightly compared to FY20, resulting in a full-year non-GAAP operating income rate of approximately 4.8%. We are confident that our FY21 plan moves us along the path to achieve our FY25 targets, specifically the financial targets of $50 billion in revenue and a 5% non-GAAP operating income rate."
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BUD | Hot Stocks07:05 EST AB InBev sees FY20 EBITDA growth of 2%-5% - The company said: "In FY20, we expect EBITDA growth of 2-5%, with the majority of our growth to be delivered in the second half of theyear. In 1Q20, we expect EBITDA to decline by around 10% given the impact of COVID-19 on our results as well as a challenging comparable, especially in Brazil. The outlook for both FY20 and 1Q20 reflects our current assessment of the scale and magnitude of COVID-19, which is subject to change as we continue to monitor the development of the outbreak. We expect CoS per hl to increase by mid-single digits. We expect the normalized ETR in FY20 to be in the range of 27% to 29%, excluding any gains and losses relating to the hedging of our share-based payment programs. We expect net capital expenditure of around 5.0 billion USD in FY20 as we are increasing investments in innovation and consumer-centric initiatives. We expect dividends to be a growing flow over time, although growth in the short term is expected to be modest given our deleveraging commitments."
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BBY | Hot Stocks07:04 EST Best Buy reports Q4 enterprise SSS up 3.2%
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BBY | Hot Stocks07:02 EST Best Buy raises quarterly dividend by 10% to 55c per share - The regular quarterly dividend will be payable on April 9, 2020, to shareholders of record as of the close of business on March 19, 2020.
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GCAP INTL | Hot Stocks07:02 EST Gain Capital to be acquired by INTL FCStone for $6.00 per share in cash
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ETRN... | Hot Stocks06:57 EST Equitrans Midstream acquiring EQT Midstream Partners, signs agreement with EQT - Equitrans Midstream (ETRN) and EQM Midstream Partners (EQM) announced the following actions and information, along with ETRN's pro forma financial and capital expenditure forecast: EQM and EQT (EQT) executed a 15-year gas gathering agreement covering Pennsylvania and West Virginia; Minimum Volume Commitment steps-up to 3.0 Bcf per day and incremental MVC increases begin with Mountain Valley Pipeline's (MVP) in-service. Present value, using 10% discount rate, of MVC revenue is approximately $2.1B higher under new 15-year gathering agreement than under prior MVCs with EQT; ETRN forecasts greater than 70% of total revenue from firm reservation fees and MVCs beginning in 2021. ETRN will purchase and retire 25.3 million shares of ETRN common stock from EQT for $52M of upfront cash, with the remaining consideration, which represents $196M PV10, to be paid through reduced gathering fees in the two years following MVP's in-service. ETRN is to acquire all outstanding public EQM common units in a 100% share-for-unit transaction, approved by the EQM Conflicts Committee, in which each outstanding public common unit of EQM would be exchanged for 2.44 shares of ETRN common stock. The Merger is expected to close mid-year 2020. ETRN intends to pay a $0.60 per share annual dividend, which allows the company to quickly de-lever and provides significant forecasted cash flow after total capital expenditures and dividends. ETRN forecasts $1.8B of cumulative free cash flow and $1.0B of cumulative retained free cash flow, over 2021-2023.
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BUD | Hot Stocks06:56 EST AB InBev estimates lost revenue of approx. $285M from coronavirus in Jan-Feb - The company said: "The impact of the COVID-19 virus outbreak on our business continues to evolve. The outbreak has led to a significant decline in demand in China in both on-premise and in-home channels. Additionally, demand during the Chinese New Year was lower than in previous years as it coincided with the beginning of this outbreak. For the first two months of 2020, we estimate that the outbreak has resulted in lost revenue of approximately 285 million USD and lost EBITDA of approximately 170 million USD in China."
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RMTI | Hot Stocks06:55 EST Rockwell Medical provides update related to launch of Dialysate Triferic - Highlights for the quarter ended December 31, 2019: 77% sequential-quarter increase in the number of clinics contracted to purchase Dialysate Triferic, and a 67% increase in the number of annualized treatments under contract. 75% of the clinics that completed an Evaluation Program for Dialysate Triferic in the fourth quarter have converted to commercial customers. Signed an agreement with a Medium-Sized Dialysis Organization for the purchase of Dialysate Triferic in late November 2019. As of December 31, 2019, five clinics within this MDO had purchased Dialysate Triferic, and Rockwell Medical expects clinic adoption to accelerate during the first half of 2020. Approximately 160 clinics within the MDO are candidates for Dialysate Triferic. Strengthened and expanded medical capabilities, including the hiring of Marc Hoffman, MD, as Chief Medical Officer, appointment of Russell Ellison, MD, to the Board of Directors, and the appointment of three world-renowned nephrologists to the Company's Medical Advisory Board. "We are encouraged by the positive trends in adoption we are seeing as we roll out the Triferic platform in the U.S. The recent signing of a Medium-Sized Dialysis Organization is a meaningful accomplishment, as it extends our reach in transforming anemia management for hemodialysis patients and represents a sizable sales opportunity. To support our commercial activities, we continue to build out our medical capabilities through the additions of prominent anemia and ESRD experts to our management team, Board of Directors and Medical Advisory Board. Our near-term efforts remain focused on driving adoption of our innovative therapeutic and to ensuring that Triferic is available to the patients who can benefit," stated Stuart Paul, President and CEO of Rockwell Medical.
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KDP... | Hot Stocks06:52 EST Keurig Dr Pepper, Nestle USA announce long-term partnership for Starbucks K-Cups - Keurig Dr Pepper (KDP) announced that it has entered into a long-term, strategic agreement with Nestle USA (NSRGY) to manufacture and distribute Starbucks branded packaged coffee in K-Cup pods in the U.S. and Canada. The new agreement with Nestle, which acquired the rights in August 2018 to market and distribute Starbucks CPG and Foodservice products globally, outside of Starbucks coffee shops, will replace the existing K-Cup pod agreement between KDP and Starbucks (SBUX) following a transition period. Financial terms of the agreement between KDP and Nestle were not disclosed.
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ETRN | Hot Stocks06:51 EST Equitrans Midstream sees 2020 growth CapEx$1.2B-$1.3B
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ANVS | Hot Stocks06:50 EST Annovis Bio awarded $1.7M NIH grant - Annovis Bio was awarded a $1.7M grant from the National Institutes of Health for the company's long-term toxicology studies in rats and in dogs of its lead therapeutic compound ANVS401. Annovis began the animal toxicology studies in the fourth quarter of 2019 and expects to complete the studies in the third quarter of 2020.
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GPK | Hot Stocks06:49 EST Graphic Packaging to acquire consumer packaging business from Greif for $85M - Graphic Packaging announced it has entered into a definitive agreement to acquire the Consumer Packaging Group business from Greif for approximately $85M. The transaction is expected to close in Q1, subject to standard closing conditions. Graphic Packaging will acquire seven converting facilities across the U.S. that produce over $200M in annual revenue. The business is expected to generate approximately $20M in annualized EBITDA, including synergies, over the 24-month period after the successful completion of the acquisition.
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AIM | Hot Stocks06:47 EST ImmunoTech collaborates with CGA on Ampligen as COVID-19 prophylactic - ImmunoTech announced that the company has joined with ChinaGoAbroad, or CGA, to facilitate the entry of AIM's experimental drug Ampligen into the People's Republic of China, or PRC, for use as a prophylactic/early-onset therapeutic against COVID-19, the new SARS-like coronavirus infection that has reached epidemic proportions. CGA is a member-based online information platform and offline advisory firm serving to facilitate two-way international transactions relating to the PRC in close collaboration with the China Overseas Development Association, which had up until recently reported to the PRC National Development and Reform Commission, which in turn reports to the State Council. CGA is already involved in China's ongoing efforts to halt the growing COVID-19 epidemic and, among other engagements, has been assigned to assist with the international purchase by Sinopharm Group of technology, masks, gowns and gloves.
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LB | Hot Stocks06:45 EST L Brands sees Q1 comps down low-single digits - Sees Q1 gross margin about flat to 35.5% LY. Sees Q1 SG&A expense rate up significantly from 29.7% LY. Sees net non-operating expense about $90M, with tax expense about $5M. Comments taken from slides being presented on the Q4 earnings conference call.
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EQT | Hot Stocks06:42 EST EQT Corporation backs FY20 total sales volume 1,450-1,500 Bcfe
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BAYRY | Hot Stocks06:41 EST Bayer sees FY20 currency-adjusted sales EUR44B-EUR45B - For 2020, Bayer expects currency-adjusted sales from continuing operations to amount to around 44 billion to 45 billion euros. This corresponds to an increase of about 3 to 4 percent on a currency- and portfolio-adjusted basis. Bayer aims to raise the Group's EBITDA margin before special items to around 28 percent after adjusting for currency effects. EBITDA before special items is seen rising to between 12.3 billion and 12.6 billion euros on a currency-adjusted basis. Core earnings per share are expected to increase to between 7.00 and 7.20 euros on a currency-adjusted basis, while free cash flow is planned to amount to around 5 billion euros after adjusting for currency effects. The forecast does not yet include an estimate of the potential impact of the coronavirus outbreak. In addition, the outlook is based on the assumption that the Animal Health business will transfer to the acquirer effective July 1, 2020, and that the purchase price will be received on that date in cash and Elanco shares as agreed.
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HRI | Hot Stocks06:40 EST Herc Holdings sees 2020 Adjusted EBITDA $760M-$790M - ees 2020 CapEx $410M-$450M.
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BAYRY | Hot Stocks06:39 EST Bayer reaches agreement on voluntary special audit of due diligence procedures - Bayer AG has reached agreement with Prof. Christian Strenger, a stockholder of the company, on a voluntary special audit of due diligence procedures. The agreement provides, among other things, for Prof. Dr. Hans-Joachim Bocking of the University of Frankfurt to review Bayer's existing specifications and requirements for conducting due diligence on major M&A transactions in the future and summarize them in a report. Bayer will publish Bocking's report on its website by the end of March and thus prior to the 2020 Annual Stockholders' Meeting. It has also been agreed that lawyer Dr. Ralph Wollburg of Linklaters and Prof. Dr. Mathias Habersack of the University of Munich will issue more detailed statements about the legal opinions they prepared at the end of 2018 and in early 2019 concerning the duties of the Board of Management in relation to the Monsanto acquisition. In their respective statements, these experts explain how they reached the conclusion that Bayer's Board of Management had acted with due care in every respect and in compliance with its obligations under stock corporation law when making its decisions regarding the Monsanto acquisition. In addition, the opinions that Bayer's Board of Management obtained from a U.S. law firm prior to the acquisition of Monsanto concerning potential litigation risks associated with glyphosate and the Roundup products containing this active ingredient have been independently reviewed.
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GOLF | Hot Stocks06:35 EST Acushnet Holdings increases quarterly dividend 10.7% to 15.5c per share - Acushnet declared a Q4 cash dividend in an amount of 15.5c per share of common stock, an increase of 10.7% versus the prior quarterly dividend. The dividend will be payable on March 27 to stockholders of record as of March 13.
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CNDT | Hot Stocks06:16 EST Conduent names Clifford Skelton as CEO, effective February 25 - Conduent announced that its Board of Directors has elected Clifford Skelton to become CEO, effective February 25. Skelton, who has been serving as Conduent's interim CEO for seven months has significant experience in comprehensive enterprise transformations. Skelton will continue as a member of Conduent's Board. Cliff joined Conduent from Fiserv Corporation where he was Group President and Chief Information Officer and subsequently President, Fiserv Output Solutions. His prior experience spans the public and private sectors at GMAC/Ally Financial, Bank of America and 21 years in the United States Navy as a naval officer and fighter pilot.
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CANF | Hot Stocks06:11 EST Can-Fite BioPharma announces CBD anti-liver cancer results, expands agreement - Can-Fite BioPharma announced new pre-clinical findings in connection with its on-going collaboration with Univo Pharmaceuticals, demonstrating CBD's anti-neoplastic effect in pre-clinical studies against liver cancer. The studies were carried out on human liver cancer cells and utilized cannabinoid fractions enriched for CBD, in nano and pico molar concentrations. Marked inhibition of Hep-3b, liver cancer cell proliferation was noted and was mediated via the A3 adenosine receptor, the target of Can-Fite's drug platform. Based on this approach, an expansion of the agreement with Univo Pharmaceuticals has been entered into to allow the testing of minute CBD concentrations/dosages in combination with Namodenoson on liver cancer and additional oncological indications. As part of the expansion, Can-Fite will fund the research and development activities for the two new indications, to be jointly performed, for an amount of $200K per indication. UNIVO Pharmaceuticals is a vertically-integrated medical cannabis company covering all aspects of cultivation, manufacturing and distribution.
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TPC | Hot Stocks06:11 EST Tutor Perini confirms $432M contract from Los Angeles MTA - Tutor Perini announced that the Los Angeles County Metropolitan Transportation Authority has awarded the company a contract for the $432M Division 20 Portal Widening and Turnback Facility project. The project scope of work includes a variety of civil improvements, including demolition and/or modification of the existing tunnel portal, installation of new trackwork, a third rail, traction power and train control systems, and construction of new storage areas and a new turnback facility to improve railyard flow and efficiency. Work is expected to begin in the spring of 2020 with substantial completion anticipated in early 2024. The contract value was included in the company's fourth quarter 2019 backlog.
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AMPH | Hot Stocks06:09 EST Amphastar receives FDA approval of sNDA for Sodium Bicarbonate Injection - Amphastar announced that the U.S. FDA granted approval of its supplemental Abbreviated New Drug Application for Sodium Bicarbonate Injection, USP, 8.4%, 50mEq/50mL Single-Dose Prefilled Syringe. This supplement is for manufacturing the product in the company's new manufacturing line at its International Medication Systems facility.
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FAMI | Hot Stocks06:03 EST Farmmi announces contract with U.S. retailer for 6 tons of shiitake products - Farmmi announced it won a new U.S. customer. The U.S. retailer signed a contract to purchase more than 6 tons of Farmmi's specialized shiitake mushroom products, including flower mushrooms.
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TAP | Hot Stocks05:52 EST Molson Coors CEO confirms shooter at Milwaukee campus was employee - Molson Coors CEO Gavin Hattersley last night confirmed tahat the active shooter on the company's Milwaukee Brewery campus was an active employee and is now deceased. Hattersley added that five other Molson Coors employees were also killed. Reference Link
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BCLI | Hot Stocks05:23 EST BrainStorm announces final site for progressive MS Phase 2 clinical trial - BrainStorm Cell Therapeutics announced that Partners MS Center at Brigham and Women's Hospital, a leading research and clinical care center, has contracted with BrainStorm as a clinical study site for the company's Phase 2 open-label, multicenter study of repeated intrathecal administration of NurOwn in participants with progressive Multiple Sclerosis, or MS. BrainStorm received FDA acceptance to initiate a Phase 2 open-label multicenter repeat-dosing trial of autologous MSC-NTF cells in progressive MS and enrollment began in March 2019. Currently half of the expected trial participants are enrolled. Top line results for both clinical trials are expected in the fourth quarter of 2020.
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