Stockwinners Market Radar for April 12, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:59 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. The world's top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia, Bloomberg's Javier Blas, Salma El Wardany and Grant Smith reported. OPEC+ will cut 9.7M barrels a day -- just below the initial proposal of 10M, the authors noted. The U.S., Brazil and Canada will contribute another 3.7M barrels on paper as their production declines. Meanwhile, the Saudi energy minister told Reuters on Sunday that effective oil supply cuts by OPEC and its allies will amount to 12.5M barrels per day, because of higher output in April from Saudi Arabia, the United Arab Emirates and Kuwait. Commenting on the agreement, President Donald Trump praised the deal, saying it would save jobs in the U.S. energy industry. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). 2. Gilead (GILD) announced results from a cohort analysis of 53 patients hospitalized with severe complications of COVID-19 who were treated with the investigational antiviral remdesivir on an individual compassionate use basis. The majority of patients in this international cohort demonstrated clinical improvement and no new safety signals were identified with remdesivir treatment, the company said. 64% of the patients in this cohort were on mechanical ventilation at baseline, including four patients also on extracorporeal membrane oxygenation. Treatment with remdesivir resulted in an improvement in oxygen support class for 68% of patients over a median follow-up of 18 days from the first dose of remdesivir. More than half of patients on mechanical ventilation were extubated and nearly half of all patients were discharged from the hospital following treatment with remdesivir. 3. Investors are hoping that a potential peak in the pandemic's death rate means this nightmare may be coming to an end and when this happens, Facebook (FB) will probably prosper, much as it has during this crisis, Steven Sears wrote in this week's edition of Barron's. Many people have been using Facebook to communicate with friends and family during weeks of isolation, and when the quarantine ends, everyone will almost certainly post even more to Facebook, and its subsidiaries Instagram and WhatsApp, to share the post-quarantine celebration, the author noted, adding that Facebook's stock is arguably attractively priced, with shares down a hair more than the broader market. 4. Major U.S. airlines were urging Treasury officials and the federal government's outside advisers to scrap or revise a proposal that would make part of the $25B earmarked by Congress to help keep workers on the payroll repayable in the form of low-cost loans, Reuters' David Shepardson and Tracy Rucinski reported. Treasury Secretary Steven Mnuchin told the airlines on Friday the government would require them to repay 30% of the grants in low-cost loans over 10 years - with the first five years at 1% interest - before the interest rate would rise. Publicly traded companies in the space include Alaska Air (ALK), American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV), Spirit Airlines (SAVE) and United Airlines (UAL). 5. American Electric Power (AEP), Dominion Energy (D), FirstEnergy (FE) and NextEra (NEE) saw positive mentions in this week's edition of Barron's, while SoftBank (SFTBY) was mentioned cautiously.

16:01 EDT Intuit QuickBooks Capital approved as Paycheck Protection Program lender - Intuit announced its subsidiary Intuit Financing is now a non-bank SBA-approved lender for the Paycheck Protection Program, paving the way for small businesses and other eligible applicants to apply for PPP federal relief through the fintech company's QuickBooks Capital systems. As a direct lender, QuickBooks Capital is able to simplify, automate and expedite the PPP application and funding process. QuickBooks Capital can assist applicants in determining eligibility and automating much of the application process. QuickBooks Capital can then facilitate the federal relief application process and, in coordination with the Small Business Association, disburse PPP funds, allowing quicker access to relief.

15:57 EDT TSMC reports March revenue NT$113.52B, up 42.4% y/y - TSMC announced its net revenues for March 2020: On a consolidated basis, revenues for March 2020 were approximately NT$113.52B, an increase of 21.5% from February 2020 and an increase of 42.4% from March 2019. Revenues for January through March 2020 totaled NT$310.6B, an increase of 42% compared to the same period in 2019.

15:44 EDT BeiGene's tislelizumab receives second approval in China, first in solid tumor - BeiGene announced that its anti-PD-1 antibody tislelizumab has received approval from the China National Medical Products Administration as a treatment for patients with locally advanced or metastatic urothelial carcinoma with PD-L1 high expression whose disease progressed during or following platinum-containing chemotherapy or within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy. Following tislelizumab's initial approval in classical Hodgkin's lymphoma by the NMPA in December 2019, this is the second indication approved for tislelizumab, and the first in a solid tumor indication. The supplemental new drug application was previously granted priority review by the Center for Drug Evaluation of the NMPA. The NMPA approval is based on the clinical results from a single-arm, multi-center pivotal Phase 2 trial of tislelizumab in patients in China and South Korea with PD-L1+ locally advanced or metastatic UC who were previously treated with platinum-containing chemotherapy. Among patients who were evaluable for response, with a minimum follow-up of 12 months and a median follow-up of 14 months, the objective response rate as assessed by the independent review committee per RECIST v1.1 criteria was 24.8%, and the complete response rate was 9.9%. The safety data for tislelizumab included in the label is based on 934 patients treated with tislelizumab monotherapy from four clinical trials, including the aforementioned pivotal Phase 2 trial in patients with UC. Most common adverse reactions included rash, fatigue, and increased alanine aminotransferase. Grade 3 or higher adverse reactions occurring in greater than or equal to 1% of patients included: increased gamma-glutamyl transferase, anemia, increased aspartate aminotransferase, increased alanine aminotransferase, pneumonitis, severe skin reactions, and hypokalemia. Like other immune checkpoint inhibitors, tislelizumab could cause immune-related adverse reactions that mainly include pneumonitis, diarrhea and colitis, hepatitis, endocrinopathies, and skin adverse reactions. Occasionally, nephritis, pancreatitis, myocarditis, myositis, and other immune-related adverse reactions were also reported. The recommended dose of tislelizumab is 200 mg administered as an intravenous infusion every three weeks until disease progression or intolerable toxicity.

15:35 EDT James Herbert resigns as Neogen chairman, Jim Borel named as successor - Neogen announced today James Herbert has resigned as its chairman, and he has been succeeded by Jim Borel. Herbert will continue to serve on Neogen's Board of Directors until his term expires in October 2020.

15:28 EDT Pacific Drilling receives Notice of Noncompliance from New York Stock Exchange - On April 7, 2020, Pacific Drilling received notice from the New York Stock Exchange stating that the company does not currently satisfy the minimum share price standard for continued listing of the company's common shares. Specifically, on April 6, 2020, the 30-trading-day average closing price per share of the company's common shares was below $1.00, the minimum average share price required for continued listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual. Under NYSE rules, the company has six months following receipt of the notification to regain compliance with this continued listing standard and avoid delisting. As required by NYSE rules, the company will notify the NYSE that it intends to cure the share price deficiency and is considering all available options to return to compliance. The company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. If at the expiration of the cure period, both a $1.00 closing share price on the last trading day of the cure period and a $1.00 average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures.

09:34 EDT Ferrari extends Maranello and Modena manufacturing suspension to May 3 - Ferrari N.V. has extended the suspension of its Maranello and Modena manufacturing activity until May 3, in accordance with the government announcement. The company will continue to pay days of absence for all of those unable to adopt this solution, as it has done since closure of its premises on March 14.

09:32 EDT Cooper Tire plans to restart tire manufacturing plant in Mexico on April 13 - Cooper Tire & Rubber Company announced Friday that it plans to restart operations at its tire manufacturing plant in El Salto, Mexico beginning April 13. Measures to protect the health and safety of employees, including social distancing, additional cleaning and disinfecting of facilities, restricted visitor access and other necessary steps will be in effect as employees return to work. Announcement of the plant's temporary closure due to coronavirus impacts was made March 21. Cooper plants in the United States, which are located in Findlay, Ohio; Clarksdale and Tupelo, Mississippi; and Texarkana, Arkansas, remain temporarily closed. The company expects these plants to remain temporarily closed for at least another two weeks from now. Cooper plants in Europe also continue to be temporarily closed. The company's plants in China continue to operate. Cooper "believes it has sufficient supply of product in inventory, and the company's distribution centers continue to operate and flow product to customers."

09:26 EDT MFA Financial announces forbearance agreement with counterparties - MFA Financial announced Friday updates with respect to its business operations. On April 10, the company and its repurchase agreement counterparties holding a significant majority of its outstanding repurchase obligations entered into a forbearance agreement. On March 24, MFA had announced that due to the turmoil in the financial markets resulting from the COVID-19 pandemic, the company was engaged in discussions with its financing counterparties regarding forbearance with respect to the company's obligations under its repurchase agreement financing arrangements, which were approximately $9.5B as of March 20. Since the date of that announcement through April 9, the company's indebtedness under such arrangements has decreased to approximately $5.8B. This reduction occurred as a result of sales of certain assets and the payoff of the associated repurchase agreement obligations. MFA added, "In response to the unprecedented market conditions experienced since mid-March, the Company has taken steps to manage and de-lever its portfolio and generate liquidity, particularly in relation to its investments in certain residential mortgage securities." Sales of residential mortgage assets generating proceeds of $3.5B, which were used to reduce the associated repurchase agreement obligations. The company also unwound all of its approximately $4.1B of swap hedging transactions. As of April 9, MFA had total cash balances of $423.4M.