Stockwinners Market Radar for April 15, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:42 EDT Yuma Energy interim CEO Schnur resigns - Effective on April 10, 2020, Anthony Schnur resigned from his positions as Interim CEO, CFO, and Chief Restructuring Officer of the Company. Shortly after with the effectiveness of Mr. Schnur's resignations, the Company engaged Ankura Consulting Group, LLC as its financial advisor. Mr. Schnur commented, "In 2019 and early 2020, we took proactive steps to recapitalize our Company's financial structure under a Credit Agreement with our lender YE Investment and a Restructuring and Exchange Agreement with Red Mountain Capital Partners LLC and certain of its affiliates including YE. Unfortunately, YE recently notified us that it was terminating the Credit Agreement due to the Company's failures to make timely interest payments and to comply with other covenants, and further, that it was also accelerating all payments due under the Credit Agreement so that all outstanding principal, accrued interest, fees and other obligations under the Credit Agreement became immediately due and payable. Simultaneous with the termination of the Credit Agreement, Red Mountain notified us that it was terminating the Restructuring Agreement. Although I am stepping down from my executive positions at the Company, I intend to actively oversee this restructuring process."

20:23 EDT Buenaventura withdraws FY19 final dividend payment - Compania de Minas Buenaventura announced that, due to uncertainties related to suspended mining activities in Peru and with the aim to preserve the company's cash position, Buenaventura's board has unanimously voted to withdraw to the company's year-end 2019 dividend payment from the upcoming Annual General Meeting agenda.

20:20 EDT AAR Corp's Mobility Systems division awarded $11.9M contract - AAR's Mobility Systems division has been awarded a sole-source firm-fixed-price contract from the US Army to produce three variants of Lightweight Multipurpose Shelters. These shelters will be manufactured at AAR Mobility Systems in Cadillac, Michigan. The sole-source firm-fixed-price (FFP) contract with AAR Mobility Systems is for five years for an estimated value of $11.9 million. This contract provides the US Army with a direct method for procuring three variants of LMS shelters for requirements to support multi-domain warfare operations. The products are designed to support Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance and other operations while being vehicle mounted.

19:24 EDT Woodside Petroleum reports Q1 output 24.2MMBOE, up 12% from last year - Woodside Petroleum reports Q1 revenue $1.08B vs. $1.36B last year. Backs FY20 output outlook of 97-103 MMBOE.

18:51 EDT Liberty TripAdvisor not aware of reasons for recent volatility - Liberty TripAdvisor announced that it is not aware of the reasons for the recent volatility in its stock price. Liberty TripAdvisor has not selectively disclosed any material nonpublic information to analysts, investors or others, and Liberty TripAdvisor is not aware of any sales or purchase of its common shares by any of its executive officers or directors within the last 30 days.

18:23 EDT UroGen Pharma receives FDA expedited approval for Jelmyto - UroGen Pharma announced the U.S. Food and Drug Administration granted expedited approval for Jelmyto for pyelocalyceal solution, a first-in-class treatment indicated for adults with low-grade upper tract urothelial cancer. This landmark approval is based on positive results from the Phase 3 OLYMPUS trial that showed Jelmyto provides an effective, kidney-sparing option for patients with this rare and difficult-to-treat cancer. Jelmyto consists of mitomycin, an established chemotherapy, and sterile hydrogel, using UroGen's proprietary sustained release RTGel technology. It has been designed to enable longer exposure of urinary tract tissue to mitomycin, thereby enabling the treatment of tumors by non-surgical means. "UroGen was founded on the vision to improve lives by challenging the current standard of care. Jelmyto, which leverages our innovative technology and expertise in specialty cancers and urologic diseases, is just the beginning as we build a company focused on bringing novel solutions to patients," said Liz Barrett, President and Chief Executive Officer, UroGen. "We thank the patients and researchers involved in our OLYMPUS trial for helping us advance a transformative treatment in a disease space that has been historically ignored. We are tremendously proud to have pioneered this first-in-class therapy that improves patient care in a difficult-to-treat cancer."

18:14 EDT Corporacion America Airport reports March passenger traffic down 48.7% y/y - Corporacion America Airport reported a 48.7% decline year-over-year passenger traffic in March 2020. Total passenger traffic in March 2020 dropped 48.7% YoY, primarily reflecting lower travel demand along with travel restrictions imposed by governments, aiming to containing the spread of COVID-19 pandemic. International traffic declined by 53.4% YoY, while domestic traffic dropped 47.9% YoY. In Argentina, total passenger traffic decreased 49.9% YoY, as a result of certain measures implemented by the Government mid-March in order to restrict both international and domestic flights. International passenger traffic declined 49.5%, while domestic passenger traffic dropped 50.0% YoY. In Italy, as per government regulations, Florence Airport temporarily halted its operations starting March 14. Passenger traffic declined 82.9% YoY, with traffic at Florence airport down 83.8% YoY and traffic at Pisa Airport down 82.4% YoY. In Brazil, total passenger traffic dropped 38.4% YoY, driven by a drop of 39.4% in domestic passenger traffic and a 42.1% decline in international passenger traffic. In Uruguay, passenger traffic declined 45.6% YoY. Containment measures implemented by the government include travel restrictions from certain countries, including Argentina, US and certain countries in Europe. In Armenia, where travel restrictions were imposed late March, total passenger traffic dropped 38.2% YoY. In Ecuador, total passenger traffic declined 47.0% YoY, with government containment measures, including borders closure, implemented mid-march.

18:03 EDT Sprouts Farmers Market expanding grocery pickup service nationally - Sprouts Farmers Market will expand its grocery pickup service with Instacart to all of its more than 340 stores by early Ma. The expansion will first roll out to Los Angeles and Central California locations immediately, and additional local market expansion details will be announced later.

17:47 EDT Zagg names new directors, enters pacts with Roumell Asset, AREX Capital - Zagg announced that the Board of Directors has appointed Ron Garriques and Edward Terino as members of the Board effective immediately, expanding the Board to seven members. The Board also announced that, effective immediately, it has changed its cash and stock-based Director compensation to an all stock compensation program in an effort to preserve cash and more closely align Director compensation to stockholder interests. As part of the appointment of the new Directors, the company entered into a cooperation agreement with each of Roumell Asset Management, owner of 4.00%, and AREX Capital Management, owner of 7.64%, that includes customary standstill and voting commitments. Both firms have agreed to vote their shares in favor of the company's slate of director nominees at the company's 2020 annual meeting of stockholders.

17:41 EDT Hallador Energy amends credit agreement, suspends dividend payment - Hallador Energy announced several actions to improve liquidity amid the growing effects of COVID-19. Due to the impacts of the COVID-19 pandemic, Hallador is expecting lower sales of 6.5M tons in 2020 versus prior guidance of 6.7M tons. Additionally, the company anticipates shipments being weighted towards the second half of the year. In anticipation of COVID-19 shipment delays and potential production interruptions, Hallador has: Amended its credit agreement to increase its allowable leverage ratios, providing approximately $50M in liquidity and also suspended its quarterly dividend indefinitely.

17:37 EDT Camden Property withdraws FY20 guidance - Given the uncertainty surrounding the social and economic impact from COVID-19, the Company is withdrawing its full-year 2020 outlook, which was included in its January 30, 2020 earnings release. The Company continues to support residents who have been financially impacted by the COVID-19 pandemic by offering resources and flexibility, including offering zero rent increases on lease renewals, waiving late fees, and creating payment plans if needed for residents who have been financially impacted by the COVID-19 pandemic. Camden remains well capitalized with a strong investment grade balance sheet, over $700 million available under its $900 million revolving credit facility after accounting for the previously announced dividend payment this week, strong retained cash flow profile, a geographically diversified portfolio, and no future debt maturities until January 2022.

17:33 EDT Rubius Therapeutics CEO Pablo Cagnoni buys 21K shares of company stock - Rubius Therapeutics CEO Pablo Cagnoni disclosed in a filing that he had purchased 21,000 shares of company stock at an average price of $4.70 per share on April 14. The total value of the transaction was $98,694.

17:31 EDT Huntington Ingalls to move to new work schedule - Huntington Ingalls announced that its Newport News Shipbuilding division will move to a new work schedule beginning Monday, May 4. In addition, the company is extending liberal leave until Monday, May 18. The new standard shifts will be 6 a.m. to 2:30 p.m. and 6 p.m. to 2:30 a.m., and will primarily involve production workers and other employees who directly support production and provide waterfront support services, such as some employees who work in waterfront engineering, production control, the clinic, and construction project and inspection departments. Because more than 70% of employees work on first shift, transitioning to two eight-hour shifts will balance the number of employees working at a time, enhancing social distancing efforts. The period between shifts will be used to clean high-traffic and high touch-point areas across the shipyard, meaning facilities will be cleaned twice every 24 hours while there are minimal personnel on site.

17:14 EDT Accelerate Diagnostics up 16% after supply deal for COVID-19 antibody tests

17:10 EDT Accelerate Diagnostics enters commercial supply deal for COVID-19 antibody test - Accelerate Diagnostics and BioCheck, Inc., a privately-held San Francisco-based company focused on in vitro diagnostics, announced that they have entered into a commercial supply and collaboration agreement. Under the agreement, Accelerate Diagnostics will distribute the BioCheck MS-FAST, a fully-automated chemiluminescence immunoassay analyzer, along with BioCheck's SARS-CoV-2 tests for the detection of IgG and IgM antibodies. The agreement covers North America, Europe and the Middle East. The BioCheck MS-FAST system and SARS-CoV-2 chemiluminescence-based tests are capable of processing blood, serum, or plasma samples in 30 minutes to detect antibodies that confirm exposure and potential immunity to COVID-19. BioCheck has applied to receive FDA's Emergency Use Authorization for their SARS-Cov-2 tests.

17:06 EDT KBR awarded seat on maximum $6.4B Air Force AFCAP V contract - KBR announced it has been awarded an indefinite-delivery, indefinite-quantity, or IDIQ, contract by the U.S. Air Force for worldwide contingency and humanitarian support. This Air Force Contract Augmentation Program V, or AFCAP V, contract has a maximum ceiling of $6.4B. Under this multiple-award contract, KBR will have the opportunity to compete on task orders to provide a full range of support for the U.S. government. These services could include assisting with contingency planning, deploying, training and equipping of U.S. military forces; emergency and contingency construction; and logistics and commodities. KBR may perform these tasks in locations around the world. The contract's period of performance is eight years. KBR has held a seat on predecessor contracts, AFCAP III and IV, since 2005.

17:03 EDT Mylan appoints Robert Coury as executive chairman amid COVID-19 crisis - The Mylan Board of Directorsannounced the appointment of Robert J. Coury, previously chairman of the Mylan Board, to the position of executive chairman of Mylan. Given the unprecedented current operating environment due to the COVID-19 pandemic, the extensive ongoing activity and preparations required to close the proposed combination of Mylan and Upjohn, a division of Pfizer, and to position the new company that will result from the Combination, Viatris, for long-term success, as well as numerous other ongoing initiatives underway within Mylan, the Mylan Board has determined that it is in the best interests of the company for Mr. Coury to assume this position effective immediately. Among other responsibilities, he will partner closely with Chief Executive Officer Heather Bresch, President Rajiv Malik and the entire management team to ensure Mylan continues to make progress on its integration planning efforts related to the Combination, while also continuing to protect its employees and maintain its supply of critical medicines to help address public health needs amid the evolving COVID-19 crisis.

17:02 EDT Steel Partners implements salary reductions, furloughs - Steel Partners announced additional measures focused on employee health and safety and cash management. The company has continued to aggressively manage the business to mitigate the effects of the COVID-19 pandemic on both the operations and financial results. At this time, all of the company's significant operations continue to maintain critical infrastructure designations. Additional health and safety precautions are being taken to protect employees, including increased sanitation measures, distancing, and health monitoring. The company has also created a COVID-19 Task Force to share best practices, create risk mitigation plans, and resource guides to safeguard our employees. Given the unpredictability of the current global economy, the company has continued to take action to reduce fixed costs and conserve cash. The company implemented salary reductions of up to 30% for salaried employees, furloughs, force reductions, bonus payment deferrals, and 401(k) match suspension. The company is also freezing all discretionary spend and aggressively managing working capital. These actions are in addition to the previously announced hiring and salary freezes, board fee deferral, and management fee deferral that were implemented in March 2020. The company has also continued to divest non-core assets, including excess real estate, and explore strategic alternatives for some of our businesses.

16:59 EDT Corporate Office Properties backs 2020 renewal rate view of 70%-75% - Says less than 1% of tenant portfolio ARR requested short-term rent relief related to COVID-19. Says Development Leasing is on-track for 1M sqf in 2020, but five deals expected to sign in March slipped into second quarter. Reference Link

16:50 EDT Baxter to hire up to 2,000 new employees globally - Baxter International provided an update on how the company is responding to the COVID-19 epidemic that is challenging communities and healthcare systems throughout the world. Since the emergence of COVID-19 and associated surge of patient hospitalizations, demand for certain Baxter products has increased significantly compared to normal ordering levels. In turn, Baxter has boosted its capacity and production to help address higher demand for products including PrisMax and Prismaflex, the company's blood purification systems used to treat acute kidney injury and other conditions, along with the solutions and consumables that enable them; its Mini-Bag Plus drug delivery system; the Spectrum IQ Infusion System and accompanying I.V. administration sets; I.V. solutions; and injectable drugs used in the ICU and across the hospital. All Baxter facilities manufacturing these products are maximizing production levels and continuing to pursue all opportunities to further increase supply, enabling the company to deliver as much as possible for those medical devices and medicines that are in high demand. Baxter's process for product allocations during the COVID-19 pandemic is based on specific criteria that helps deliver the company's life-saving products where they are needed the most. These efforts are informed in part from objective research sources, such as the Institute for Health Metrics and Evaluation, government data reporting, such as U.S. Centers for Disease Control and Prevention, and academic data, such as Johns Hopkins University & Medicine Coronavirus Resource Center. While current customers will continue to have access to Baxter products, this process will strive to dedicate additional inventory to hospitals around the world with the greatest COVID-19 patient care needs and will be updated regularly to reflect the dynamic situation. Baxter is increasing its access to air freight capacity as well as the frequency of transporting critically needed medical devices and medicines back and forth between the U.S. and Europe. Flights will start this week, and the new airbridge will help the company get more products to hospitals as quickly as possible. Baxter continues to aggressively monitor the availability of, and source incremental, raw materials and components to help ensure supply continuity. The company also remains focused on supporting patients with chronic diseases who rely on life-sustaining Baxter therapies, including parenteral nutrition and dialysis. Amidst significant economic disruption, increased demand for the company's products is creating additional permanent and temporary employment opportunities - up to 2,000 new positions globally, 800 of which are in the United States. The company is looking for talented and passionate individuals to join in a variety of roles worldwide, primarily in manufacturing to help bolster production. Roles are available for those with minimal experience in manufacturing and will include robust training.

16:47 EDT Globant withdraws FY20 guidance - Globant announced that it is withdrawing its FY20 guidance due to the current uncertainty resulting from the outbreak of the COVID-19 pandemic. In this respect the company mentioned that, while its business outlook, cash and liquidity position remains strong, it considers that the ongoing uncertainty as to the impact of the pandemic on global economic conditions makes it difficult to predict full year 2020 results with sufficient accuracy.

16:31 EDT Global Eagle announces 1-for-25 reverse stock split - Global Eagle Entertainment announced that the company's board of directors has approved a reverse stock split of the company's common stock, at a ratio of 1-for-25, following the approval of the reverse stock split by the company's stockholders at the Special Meeting of Stockholders held on March 17, 2020. Beginning with the opening of trading on April 16, 2020, the company's common stock will trade on The Nasdaq Capital Market on a split-adjusted basis under a new CUSIP number, 37951D300. The company's trading symbol will continue to be "ENT."

16:26 EDT Cimarex Energy reduces 2020 CapEx view by 55%-60% - Cimarex Energy now expects a 55%-60% reduction in its 2020 capital investment program from its original guidance of $1.25B-$1.35B,, due to the continued weakness in oil prices. The company has deferred completion activities and will drop all but one drilling rig in early May. Cimarex has also curtailed approximately 30% of its volumes for the month of May due to weakness in realized prices.

16:21 EDT Bed Bath & Beyond modifies capital allocation plans - On April 2, Bed Bath & Beyond extended the temporary closure of all its retail banner stores across the U.S. and Canada, other than buybuy BABY and Harmon Face Values stores, until May 2. In conjunction with this decision, the company announced it would implement additional cost reductions, including a furlough of the majority of store associates and a portion of corporate associates until at least May 2, 2020, a temporary reduction in salaries of the company's executive team by 30%, and a temporary reduction in the quarterly cash compensation of the independent directors of the Board by 30%. The company also modified its previously announced capital allocation plans as a result of the significant uncertainty related to the COVID-19 pandemic. The company has taken or plans to take the following further actions while managing this period of business disruption: Elected to draw down the additional funds ($236 million) remaining from its revolving credit agreement, in an abundance of caution and as a proactive measure; Suspended prior plans to spend up to $600 million in fiscal 2020 for share repurchases, future dividends, and debt reduction; Postponed approximately $150 million in planned capital expenditures out of fiscal 2020, including some store remodels; Reduced discretionary spend such as business travel, advertising and expense associated with the maintenance of stores that are temporarily closed; Renegotiating extensions of payment terms for goods and services, and rent; Managing to lower inventory levels; Implementing applicable benefits of the Coronavirus Aid, Relief, and Economic Security Act, such as deferring employer payroll taxes and utilizing the ability to carry back and deduct losses to offset prior income in previously filed tax returns; and Prioritizing approximately $250 million in essential capital expenditures to drive strategic growth plans, including investments in digital and Buy Online Pick Up In Store.

16:20 EDT Vanda Pharmaceuticals begins study on effects of genetic variation on COVID-19 - Vanda Pharmaceuticals announced the initiation of the CALYPSO program to study the role that human genetic variations play in COVID-19 infection and disease progression. As a part of the CALYPSO program, Vanda will collaborate with University of Washington School of Medicine and its Virology Lab on a pharmacogenetics study in patients with COVID-19. The study will focus on the sequencing of the genome of individual patients, as well as the COVID-19 virus, and the identification of genetic factors that correlate with disease progression and outcomes. The study is scheduled to begin enrollment in the coming weeks and will be open to patients in hospitals and clinics around the U.S.

16:18 EDT Mohawk names Frank Boykin CFO, Landau leaving company - Mohawk Industries announced the appointment of Frank H. Boykin as CFO, effective April 15. "During his 25 years with the business, Frank played an important role in Mohawk's growth," said Jeff Lorberbaum, Mohawk's chairman and chief executive officer. "He upgraded the performance of our finance team and gained the confidence of investors and analysts. I have asked Frank to resume the responsibilities of chief financial officer because his knowledge of all aspects of our business and the industry is a great asset to us in this environment." Boykin previously served as Mohawk's chief financial officer from 2005 to 2019. He initially joined the Company as corporate controller in 1993. Boykin retired in 2019 and has continued to support the business as a senior consultant for the past year. "I'm pleased to return to Mohawk to help the business navigate through these challenging times," said Boykin. "In my consulting role I've maintained close ties to the business and am ready to step in immediately. I look forward to rejoining our outstanding finance team and working with the leadership team to manage the initiatives to help us thrive when we emerge from the current downturn." Glenn Landau, former CFO, will leave the company on April 15 to pursue other interests.

16:16 EDT Correction: Bed Bath & Beyond reports Q4 SSS down 5.6%

16:16 EDT Bed Bath & Beyond reports Q4 SSS down 10%

16:13 EDT Aeterna Zentaris receives noncompliance notice from Nasdaq - Aeterna Zentaris announced that on April 8, the company received notice from the listing qualifications department of Nasdaq indicating that the company is not in compliance with the minimum $1.00 per share bid price requirement set forth in Nasdaq Listing Rule 5550 as the bid price for the company's common stock had closed below $1.00 per share for the prior 30 consecutive business day period, and that the company has been provided a grace period of 180 calendar days, through October 5, to evidence compliance with that requirement. The grace period was granted pursuant to Nasdaq Listing Rule 5810. To evidence compliance with the bid price requirement, the company must report a closing bid price of at least $1.00 per share for a minimum of 10, and generally not more than 20, consecutive business days on or before October 5. The company was also notified that, based upon the net loss for the FY19, the company no longer satisfies the minimum net income requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550 and does not otherwise satisfy the alternative requirements of market value of listed securities or stockholders' equity. The company plans to timely submit its plan to regain compliance with Nasdaq Listing Rule 5550 for the staff's review within the 45-day window provided. The staff has the discretion to grant the company an extension of up to 180 days, through October 5, to evidence compliance with this requirement. Nasdaq's notice has no immediate effect on the listing of the company's common shares on Nasdaq and does not otherwise impact the company's listing on the Toronto Stock Exchange. In the event the company does not evidence compliance with the Nasdaq Listing Rules within any prescribed period and is not otherwise eligible for additional time to do so, the company would be subject to delisting from Nasdaq. In that event, the company would have the right to request a hearing before a Nasdaq hearings panel, which request would stay any further action by the staff pending such hearing.

16:11 EDT OFG Bancorp to adjourn annual meeting due to coronavirus concerns - OFG Bancorp announced it intends to convene and then immediately adjourn its Annual Meeting of Shareholders for up to 30 days due to public health concerns relating to the COVID-19 pandemic and related government actions, including Puerto Rico Gov. Wanda Vazquez's recent executive order extending Puerto Rico's stay at home restrictions through May 3. OFG's Annual Meeting is scheduled for 10:00 AM ET, Wednesday, April 22, 2020, at Oriental Center, 254 Munoz Rivera Avenue, Ground Floor, San Juan. The Meeting will be convened and then immediately adjourned to a time and place that will be announced later by news release. Stockholders should comply with applicable restrictions and not attend. The record date will remain February 27, 2020.

16:11 EDT United Airlines expects to receive $5B through Payroll Support Program - United Airlines confirmed the airline expects to receive a total of approximately $5B from the federal government through the Payroll Support Program under the Coronavirus Aid, Relief, and Economic Security Act. Of the $5B total the airline expects to receive, approximately $3.5B will be a direct grant and approximately $1.5B will be a low interest rate loan. These funds secured from the U.S. Treasury Department will be used to pay for the salaries and benefits of tens of thousands of United Airlines employees. In connection with the Payroll Support Program, the airline's parent company also expects to issue warrants to purchase approximately 4.6M shares of UAL common stock to the federal government.

16:09 EDT Adamis receives loan proceeds of $3.19M from PPP - Adamis Pharmaceuticals announced that it has received loan proceeds of $3.19M under the Paycheck Protection Program, or PPP. The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act, provides for loans to qualifying businesses for amounts up to 2.5 times the average monthly payroll expenses of the qualifying business, calculated as provided under the PPP. The PPP provides a mechanism for forgiveness of up to the full amount borrowed after eight weeks as long as the borrower uses the loan proceeds during the eight-week period after the loan origination for eligible purposes, including payroll costs, certain benefits costs, rent and utilities costs or other permitted purposes, and maintains its payroll levels, subject to certain other requirements and limitations. The amount of loan forgiveness is subject to reduction, among other reasons, if the borrower terminates employees or reduces salaries during the eight-week period.

16:07 EDT Vir Biotechnology announces additional interim data from VIR-2218 trial - Vir Biotechnology (VIR) announced additional interim data from the ongoing Phase 2 trial in patients and results from the Phase 1 trial in healthy volunteers of VIR-2218, an investigational small interfering ribonucleic acid, or siRNA, that mediates RNA interference, or RNAi, for the treatment of chronic hepatitis B virus, or HBV, infection. Interim results from the ongoing Phase 2 trial demonstrate that VIR-2218 results in a significant dose-dependent and durable reduction in hepatitis B surface antigen, or HBsAg, through Week 24 in patients with chronic HBV who received two doses of VIR-2218, ranging from 20 mg to 200 mg. Similar HBsAg reductions were observed in both HBeAg- and HBeAg+ patients. In addition, VIR-2218 was generally well tolerated, with the majority of treatment emergent adverse events, or AEs, reported as mild in severity, and no clinically significant alanine transaminase, or ALT, elevations observed. By targeting a conserved region of the HBV genome, VIR-2218 is designed to inhibit the production of all HBV proteins, including HBsAg. Suppression of HBV proteins, particularly HBsAg, is hypothesized to remove the inhibition of T and B cell activity directed against HBV. VIR-2218 was the first siRNA in the clinic to include Alnylam's (ALNY) Enhanced Stabilization Chemistry-Plus, or ESC+, technology to enhance stability and minimize off-target activity, which may result in an enhanced therapeutic index. In the ongoing Phase 2 trial, virally suppressed patients on nucleos(t)ide reverse transcriptase inhibitor therapy received two subcutaneous 20, 50, 100, or 200 mg doses of VIR-2218 on Day 1 and Day 29. At Week 24, the mean change in HBsAg observed with 20, 50, 100, and 200 mg was -0.76 log10, -0.93 log10, -1.23 log10, and -1.43 log10, respectively. Of note, all patients who received the 200 mg dose level achieved a greater than or equal to log10 reduction in HBsAg, with HBeAg- and HBeAg+ patients achieving similar mean declines. There has been no dose-related trend in the frequency of AEs observed during the trial, with the most common AE being headache. No patients discontinued the trial due to an AE. The Alnylam ESC+ technology incorporated into VIR-2218 is designed to reduce off-target binding while maintaining on-target activity, which is hypothesized to result in an improved hepatic safety profile. In analyses of the in vitro, in vivo and Phase 1 clinical data, the ESC+ siRNA VIR-2218, when compared to the parent compound ALN-HBV, which is not an ESC+ siRNA, was shown to have: Improved in vitro specificity by reducing off-target effects on host messenger RNA; Decreased propensity to cause ALT elevations in a humanized liver chimeric mouse model and in a cross-study comparison of Phase 1 data, decreased propensity to cause ALT elevations in healthy volunteers at dose levels anticipated to be clinically relevant. Information on the potential hepatic safety profile of all siRNAs is an important consideration in the HBV patient population, especially those with advanced liver disease.

16:06 EDT Qiagen launches therascreen BRAF test as Braftovi companion diagnostic - Qiagen announced launch of its novel therascreen BRAF V600E RGQ PCR Kit following U.S. Food and Drug Administration approval as a companion diagnostic to the BRAF inhibitor, BRAFTOVI, which the FDA has approved for use in combination with cetuximab for the treatment of adult patients with metastatic colorectal cancer with a BRAF V600E mutation, as detected by an FDA-approved test, after prior therapy. "We are very excited about the launch of the new therascreen BRAF V600E Kit, our first companion diagnostic test to obtain FDA approval for the detection of a mutation in the BRAF gene and our third CDx approval in colorectal cancer. Using our new test to help guide treatment decisions in colorectal cancer will address a high unmet medical need among patients," said Jonathan Arnold, Vice President and Head of Partnering for Precision Diagnostics at QIAGEN. "The new therascreen BRAF V600E Kit will be available to accelerate the availability of innovations in precision medicine."

15:56 EDT Toyota to gradually restart operations at France, Poland sites - Toyota announced it will gradually restart operations at Toyota Motor Manufacturing France, Valenciennes, and Toyota Motor Manufacturing Poland, in Jelcz-Laskowice and Walbrzych. TMMF is home to the production of the compact Toyota Yaris, whilst TMMP produces the related engine and transmission units. TMMF will resume production on limited volume from 22 April, following the suspension of operations since 17 March. Closely linked to TMMF's operations, TMMP is also preparing for production on reduced volumes, following TMMF demand.

15:33 EDT JPMorgan reports March net credit losses 2.48% vs. 2.20% last month - Reports March 30-plus day delinquencies 1.16% vs. 1.14% last month.

15:09 EDT Citi reports March credit loss 3.02% vs. 2.64% last month - Reports March 30-plus day delinquencies 1.56% vs. 1.54% last month.

15:01 EDT New Jersey's DGE reports March gaming revenue $163.5M, down 44.4% y/y - Due to COVID-19, Atlantic City Casinos closed at 8:00 p.m. on March 16, 2020. Internet gaming and online sports wagering operations have continued, but most sporting events have been canceled. Based upon filings with New Jersey's Division of Gaming Enforcement, Total Gaming Revenue for March was $163.5M compared to $294M in March 2019, reflecting a 44.4% decrease. Casino Win for March was $85.5M, decreasing 61.7% from the same month last year. Internet Gaming Win was $64.8M in March compared to $39.1M in the prior period, reflecting an increase of 65.6%. Sports Wagering Gross Revenue was $13.2M for the month. For the first three months, the Industry's Total Gaming Revenue was $751.3M through March 2020 compared to $764.8M in the prior period, reflecting a decrease of 1.8%. Casino Win was $495.6M reflecting a 17.0% decrease over the prior period. Internet Gaming Win increased 64.5% to $171.9M when compared to the prior period. Sports Wagering Gross Revenue was $83.7M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

14:33 EDT FDA approves UroGen Pharma's Jelmyto for UTUC treatment - The U.S. Food and Drug Administration approved Jelmyto, which it identifies as the first therapy to treat low-grade upper tract urothelial cancer, or UTUC. Urothelial cancer is a cancer of the lining of the urinary system. "This is the first approval specifically for patients with low-grade UTUC and provides an option for some patients who may otherwise require a nephroureterectomy. Due to substantial treatment challenges associated with the complex anatomy of the upper urinary tract, many patients need to be treated with radical surgery - usually complete removal of the affected kidney, ureter and bladder cuff. Jelmyto gives patients, for the first time, an alternative treatment option for low-grade UTUC," said Richard Pazdur, M.D., director of the FDA's Oncology Center of Excellence and acting director of the Office of Oncologic Diseases in the FDA's Center for Drug Evaluation and Research. The FDA granted approval of Jelmyto to UroGen Pharma.

14:11 EDT UroGen Pharma application for Jelmyto approved by FDA - The FDA posted an approval for UroGen Pharma's application for Jelmyto, which is an alkylating drug indicated for the treatment of adult patients with low-grade Upper Tract Urothelial Cancer. Reference Link

13:55 EDT Freddie Mac revises COVID-19 forbearance program to further align with CARES Act - Freddie Mac announced revisions to its Multifamily COVID-19 forbearance program to further align with CARES Act provisions related to multifamily borrowers and tenants. "Freddie Mac's program provides three months of forbearance for borrowers affected by COVID-19 along with a no-evictions policy for tenants during the forbearance period. Freddie Mac created its program prior to the enactment of the CARES Act, but the program at inception was largely consistent with the new law and required only minimal changes," the company stated.

13:07 EDT North American rail traffic dropped 20.1% in week ending April 11 - The Association of American Railroads or AAR reported U.S. rail traffic for the week ending April 11. For this week, total U.S. weekly rail traffic was 412,503 carloads and intermodal units, down 21.9% compared with the same week last year. Total carloads for the week ending April 11 were 198,726 carloads, down 23.8% compared with the same week in 2019, while U.S. weekly intermodal volume was 213,777 containers and trailers, down 20% compared to 2019. One of the 10 carload commodity groups posted an increase compared with the same week in 2019. It was grain, up 595 carloads, to 22,237. Commodity groups that posted decreases compared with the same week in 2019 included coal, down 29,609 carloads, to 52,468; motor vehicles and parts, down 15,521 carloads, to 2,185; and metallic ores and metals, down 5,982 carloads, to 17,949. North American rail volume for the week ending April 11, 2020, on 12 reporting U.S., Canadian and Mexican railroads totaled 288,715 carloads, down 21.6% compared with the same week last year, and 291,347 intermodal units, down 18.6 percent compared with last year. Total combined weekly rail traffic in North America was 580,062 carloads and intermodal units, down 20.1%. North American rail volume for the first 15 weeks of 2020 was 9,666,804 carloads and intermodal units, down 7.7% compared with 2019. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP).

12:13 EDT Facebook's Instagram announces new features for small businesses - Facebook's Instagram is streamlining the process for small businesses to feature gift cards, online food orders and fundraisers in Stories and on their profiles.The company said earlier in a blog posting: "Small businesses are an important part of our community, and many are facing immense challenges during the COVID-19 crisis. Today, we're making it easier to discover gift cards, online food orders, and fundraisers on Instagram so you can support the businesses you love. Businesses can share new gift card, food order, and fundraiser stickers in Stories and on their profiles. When you see gift cards or food orders, you can tap to make your purchase through our partner's site. Fundraisers open on Facebook to a personal fundraiser created by business owners or their supporters. Gift cards and food orders for delivery and takeout are available in the US and Canada starting today and will roll out globally in the coming weeks, and fundraisers will be coming soon. Spread the word by resharing the stickers in your Stories. For many businesses right now, every sale helps. We'll continue to work on features that make it easier to support the small businesses you care about. " Reference Link

12:08 EDT American Express reports March net write-off rate 2.8% vs. 2.6% last month - Reports March 30 days past due U.S. Consumer Card Member loans 1.7% vs. 1.6% last month.

12:01 EDT Beacon Roofing names Frank Lonegro as EVP, CFO - Beacon (BECN) announced the appointment of Frank A. Lonegro as Executive Vice President and CFO. Lonegro will join Beacon on April 20, 2020 and assume his role as CFO on or about May 15, 2020 as current CFOJoseph Nowicki transitions his duties. Prior to joining Beacon, Lonegro served at CSX (CSX) for nineteen years, culminating as Executive Vice President and CFO from 2015-2019.

12:00 EDT Apergy falls -20.4% - Apergy is down -20.4%, or -$1.75 to $6.83.

12:00 EDT ProShares Trust Ultra VIX Short Term Futures ETF rises 13.9% - ProShares Trust Ultra VIX Short Term Futures ETF is up 13.9%, or $5.86 to $47.96.

12:00 EDT Scor ADR rises 14.4% - Scor ADR is up 14.4%, or $3.89 to $30.95.

11:27 EDT Reynolds American reports submission of two new PMTAs to FDA - Reynolds American, an indirect, wholly owned subsidiary of British American Tobacco, announced that it has submitted two new Premarket Tobacco Product Applications, or "PMTAs," to the U.S. Food and Drug Administration. Reynolds is seeking marketing orders for their Vuse Vibe and Vuse Ciro vapor products, which would allow these products to remain on the market after the FDA's May 12, 2020 deadline for PMTA applications for Electronic Nicotine Delivery Systems, or "ENDS," the company said. The PMTAs include multiple flavor variants for each brand style. "The PMTAs for Vuse Vibe and Vuse Ciro are the second and third complete grouped PMTA applications submitted by Reynolds to the FDA for review, following the initial PMTA applications for Vuse Solo submitted in October 2019. The PMTA process allows the FDA to evaluate whether the marketing of certain ENDS products is appropriate for the protection of the public health. While these applications may include relative safety information, it should be noted that the marketing orders sought are not statements of modified risk," Reynolds stated.

11:10 EDT Apple says part of iPhone SE (PRODUCT)RED purchase proceeds to go to COVID fund - Apple announced the second-generation iPhone SE, which it said was "reinvented from the inside out, and is the most affordable iPhone." A portion of proceeds for iPhone SE (PRODUCT)RED purchases will go directly to Global Fund's newly established COVID-19 Response - "providing funding to countries in need of PPE, diagnostics treatment, lab equipment, public safety communications, supply chain support and more - as well as HIV/AIDS grants that provide testing, counseling, treatment and prevention programs with a specific focus on eliminating transmission of the virus from mothers to their babies," the company stated.

11:09 EDT American Airlines accelerating retirement of older jets

11:03 EDT Apple announces second-generation iPhone SE, coming April 24 in U.S. - Apple announced the second-generation iPhone SE, which it calls "a powerful new iPhone featuring a 4.7-inch Retina HD display, paired with Touch ID for industry-leading security. iPhone SE "comes in a compact design, reinvented from the inside out, and is the most affordable iPhone," the company added. iPhone SE comes in three colors - black, white and (PRODUCT)RED - and will be available for pre-order beginning Friday, April 17, starting at $399. iPhone SE will be available from Apple, Apple Authorized Resellers and select carriers on Friday, April 24 in the U.S. and more than 40 other countries and regions, Apple added.

10:44 EDT DOD issues report on JEDI contract, sees award to Microsoft as proper - The Department of Defense Office of Inspector General has issued a report on the Joint Enterprise Defense Infrastructure Cloud Procurement. "On June 11, 2019, the Department of Defense Office of Inspector General initiated a review of the DoD Joint Enterprise Defense Infrastructure Cloud procurement, and an investigation into allegations that former DoD officials engaged in ethical misconduct related to the JEDI Cloud procurement," the Department of Defense Office of Inspector General said in a statement. According to the report, the DoD OIG concluded that "the DoD's decision to award the JEDI Cloud contract to a single contractor was consistent with applicable law and acquisition standards. [...] We concluded that the procuring contracting officer's determination to use a single-award contract was in accordance with the Federal Acquisition Regulation and was reasonable. We also concluded that the Undersecretary of Defense for Acquisition and Sustainment's authorization for a single-award contract was consistent with applicable law. In addition, we concluded that the JEDI Cloud requirements in the Request for Proposal were reasonable and based on approved requirements, essential cloud capabilities, DoD cloud security policy, and the Federal Risk and Authorization Management Program guidance. In addition, we concluded that the DoD's inclusion of gate requirements was reasonable and did not overly restrict competition. We also concluded that the DoD conducted the JEDI Cloud source selection in compliance with the FAR, the DoD Source Selection Procedures, the JEDI Cloud Source Selection Plan, and the Request for Proposals, Sections M1 - Basis for Award and M2 - Evaluation Process. We concluded that the source selection team's evaluation of the contractors' proposals was consistent with established DoD and Federal source selection standards. We also note that on February 13, 2020, the U.S. Court of Federal Claims issued an opinion and order which granted Amazon's request for a preliminary injunction and stopped the DoD from proceeding with JEDI Cloud contract activities until further order of the court. The court concluded that Amazon is likely to demonstrate in the course of their bid protest that the DoD erred in its evaluation of a discrete portion of Microsoft's proposal for the JEDI Cloud contract. The court's decision was not inconsistent with our conclusion that the source selection process used by the DoD was in compliance with the FAR, the DoD Source Selection Procedures, the JEDI Cloud Source Selection Plan, and the Request for Proposals, Sections M1 - Basis for Award and M2 - Evaluation Process. In this report, we do not draw a conclusion regarding whether the DoD appropriately awarded the JEDI Cloud contract to Microsoft rather than Amazon Web Services. We did not assess the merits of the contractors' proposals or DoD's technical or price evaluations; rather we reviewed the source selection process and determined that it was in compliance with applicable statutes, policies, and the evaluation process described in the Request for Proposals. In addition, however, we concluded that after the JEDI Cloud Contract award, the DoD improperly disclosed source selection and proprietary Microsoft information to Amazon. In addition, the DoD failed to properly redact names of DoD source selection team members in the source selection reports that were disclosed to Amazon and Microsoft. [...] we believe the evidence we received showed that the DoD personnel who evaluated the contract proposals and awarded Microsoft the JEDI Cloud contract were not pressured regarding their decision on the award of the contract by any DoD leaders more senior to them, who may have communicated with the White House." Reference Link

10:34 EDT Citi sees 'normalization' of trading activity levels in Q2

10:32 EDT Citi no longer expects to deliver RoTCE of 12%-13% for FY20

10:20 EDT Citi: Store closures to hurt retail card account openings

10:10 EDT Short seller says Street 'overly optimistic' about Middleby's ability to recover - Shares of Middleby (MIDD) are in the spotlight after short-seller Prescience Point Capital Management said it believes Wall Street is "overly optimistic" about Middleby's ability to recover from the devastating impact that the COVID-19 pandemic will have on the restaurant industry. COVID-19 IMPACT: In a recently published report, Prescience Point Capital Management noted that Middleby is one of the largest providers of industrial kitchen equipment to quick-and full-service restaurants, retail outlets, and hotels. "The industry has unfortunately been devastated by the COVID-19 pandemic and we believe the impact on Middleby will be much larger than current projections." The short seller argued that, "after a months-long investigation that included a deep forensic analysis of the company's financial statements and interviews with key distributors and restaurant industry experts, Prescience Point believes Wall Street is overly optimistic about the company's ability to recover from the devastating impact that the COVID-19 pandemic will have on the restaurant industry." "Middleby had already been struggling before COVID-19 as many of its large restaurant chain customers pushed out capex and delayed projects. For years, Middleby was able to hide deteriorating organic growth with progressively larger but lower quality acquisitions. As demand starts to disappear and leverage nears all-time high, Middleby's debt-fueled roll-up strategy is set to implode," the report reads. Prescience Point Capital Management values Middleby's shares at $26.91, "implying 50% downside." PRICE ACTION: In morning trading, shares of Middleby have dropped over 7% to $50.07.Reference Link

10:06 EDT Citi CEO: 98% of trading division employees working remotely - Comments taken from Q1 earnings conference call.

10:00 EDT Covanta falls -14.3% - Covanta is down -14.3%, or -$1.25 to $7.51.

10:00 EDT Chesapeake falls -28.8% - Chesapeake is down -28.8%, or -$7.55 to $18.69.

10:00 EDT Aphria rises 10.2% - Aphria is up 10.2%, or 37c to $4.01.

09:58 EDT Diamond Eagle announces effectiveness of DraftKings deal registration statement - Diamond Eagle Acquisition announced that the registration statement on Form S-4 , filed by its wholly-owned subsidiary, DEAC NV Merger Corp., relating to the previously announced business combination with DraftKings and SBTech Limited, has been declared effective by the U.S. Securities and Exchange Commission and that it has commenced mailing the definitive proxy statement/prospectus relating to the special meeting of Diamond Eagle's stockholders to be held on April 23, 2020 in connection with the business combination.

09:49 EDT U.S. Bancorp expects consumer, business spending down through end of year - Says retail portfolio "very strong," commercial is investment grade.

09:47 EDT Apache falls -11.7% - Apache is down -11.7%, or -94c to $7.14.

09:47 EDT Chesapeake falls -27.6% - Chesapeake is down -27.6%, or -$7.24 to $19.00.

09:47 EDT Direxion Financial Bear 3x rises 11.7% - Direxion Financial Bear 3x is up 11.7%, or $3.06 to $29.15.

09:44 EDT Goldman Sachs sees GDP falling at least 30% in Q2, rebounding in 2H

09:38 EDT Goldman Sachs 'prepared to play our part to help' amid pandemic, Solomon says

09:35 EDT Goldman Sachs CEO: 'Too early to know full impact' of COVID-19 pandemic - Comments taken from Q1 earnings conference call.

09:31 EDT ServiceNow makes 'no layoff' pledge for 2020 - ServiceNow said in a statement that it is committing to protect the jobs of its 11,000-plus global workforce through 2020 despite the economic uncertainty of the COVID-19 pandemic. The company also expects to keep hiring for new jobs worldwide this year. In addition, ServiceNow expects to continue to protect the jobs and salaries of several hundred support staff and contractors who are not working while ServiceNow's offices remain closed. "We want our employees focused on supporting our customers, not worried about their own jobs," said Bill McDermott, ServiceNow's CEO. "We are committed to no layoffs for 2020. We are continuing to hire worldwide." ServiceNow has continued to hire and onboard new employees throughout the COVID-19 pandemic. The company expects to create and fill more than 1,000 new jobs in the U.S., and more worldwide, by the end of 2020. Additionally, this summer the company will welcome approximately 360 college interns from around the world to work across its business. As a digital workflow company, ServiceNow has been able to quickly pivot to a digital internship program, maintaining the ability to provide college interns valuable career experience, even if employees continue to operate in a work-from-home environment. ServiceNow's employees worldwide have been working from home since mid-March and expect to continue to do so until June 1.

09:28 EDT Chembio Diagnostics receives EUA for DPP COVID-19 System - Chembio Diagnostics announced receipt of Emergency Use Authorization for its DPP COVID-19 System. The DPP COVID-19 System is a serological point-of-care test and analyzer that provides numerical readings for both IgM and IgG levels within 15 minutes from a simple finger stick drop of blood. Both Chembio's Micro Reader 1 and Micro Reader 2 analyzers are compatible with the test.

09:27 EDT Bank of America reports March net charge-offs 2.74% vs. 2.52% last month - Reports March 30-plus day delinquencies 1.58% vs. 1.58% last month.

09:25 EDT Genius Brands expands 'Llama Llama' consumer product retail program - Genius Brands International announces the expansion of the retail program for its preschool brand, Llama Llama, based on thebook franchise by Anna Dewdney, with the appointment of new licensing partners to introduce consumer products in 2020. The three new licensees on board for the Llama Llama retail program include Core Home, for a range of hydration and feeding products; Everyday Kids, for children's bedding and home decor; and SPIRIT!, for a book with plush set, which will be exclusively available at retailer Five Below's approximately 900 stores, as well as online. Seasons one and two of the Netflix Original series, Llama Llama, with Jennifer Garner in the lead role as Mama Llama, are available worldwide in 20 different languages. Additionally, new content is available on the Llama Llama dedicated YouTube channel. Genius Brands has already debuted a range of products for Llama Llama, including plush toys from Kids Preferred available at Walmart.com, Amazon, Barnes & Noble, Buy Buy Baby, Wegmans and more; activity books from Bendon Publishing available at Michael's and Dollar General; DVDs from NCircle Entertainment available at Walmart, Target and online; puzzles available at Go Retail shops and online; Decopac cake design and decorating kits available at grocery and bakery stores; party accessories from Prime Party and Creative Converting available at mass and online retailers; and Halloween costumes at Halloween.com/Fun.com. Llama Llama branded products also debuting at retail in Q4 2019 include holiday ornaments from Kurt Adler and holiday plush from Cuddle Barn. Additionally, Scholastic has a range of game and activity books available exclusively at Scholastic Book Fairs across the U.S.

09:23 EDT Exxon Mobil boosts production of raw materials for medical masks, gowns - ExxonMobil said today it has increased production of critical raw materials for masks, gowns and hand sanitizer used by medical professionals and first responders leading the efforts to combat the global COVID-19 pandemic. The company has increased its capability to manufacture specialized polypropylene, used in medical masks and gowns, by about 1,000 tonnes per month, which is enough to enable production of up to 200 million medical masks or 20 million gowns. Monthly production of isopropyl alcohol - a key ingredient in many disinfectant and hand sanitizer products - has been increased by 3,000 tonnes, which is enough to enable production of up to 50 million 4-ounce bottles of medical-grade hand sanitizer. The additional polypropylene will be made at sites in Baytown, Texas; Baton Rouge, Louisiana; and Singapore and help meet high demand for other critical hygiene and health care items. Production of isopropyl alcohol, also known as rubbing alcohol, is being maximized at the company's site in Baton Rouge.

09:21 EDT Collectors Universe resumes authentication, grading operations on limited basis - Collectors Universe is providing the following new business update. The company said, "As we previously reported, the Company ceased authentication and grading operations in California on March 20, 2020 in response to a state-wide "shelter-in-place" order issued by the Governor of California. However, we have recently resumed our coin, trading card and memorabilia authentication and grading operations, albeit on a limited basis, primarily to assist dealers of investment assets, consisting of coin and other high-value collectibles, and our other customers in selling those assets and enhancing their liquidity. As we have previously stated, we believe that our authentication and grading services add value to these investment assets by enhancing their marketability and, thereby, increasing liquidity to the dealers and collectors that buy and sell them. Protecting the health and safety of our employees and our community remains our top priority. As a result, we resumed operations only after having implemented a number of health and safety measures, including changing the configuration of our grading floors and limiting the number of employees that may be onsite at any time in order to maintain social distancing, and regularly sanitizing the work spaces at our offices. As we previously reported, the cessation of our authentication and grading operations, beginning on March 20, 2020, adversely affected our revenues and operating results for the month and the quarter ended March 31, 2020. We expect that the resumption of our operations will help to mitigate, but not fully offset, the adverse effects of the COVID-19 pandemic on our operating results for the fourth quarter and fiscal year ending June 30, 2020. We do not have adequate data to reliably predict the extent of the adverse effects that the COVID-19 pandemic will have on our future operating results, as that will depend on a number of variables that are outside of our control, including the ultimate severity and the duration of the pandemic. n the other hand, our financial condition remains strong. As of March 31, 2020, we had cash and cash equivalents totaling approximately $22 million. In addition, as of March 31, 2020 we have up to $15 million of available credit under a revolving bank credit line and minimal debt."

09:17 EDT U.S. Bancorp says COVID-19 'significantly restricting' economic activity - Says remains "well capitalized." Says digital is "core part" of company's strategy. Expects to see more pressure on net interest margin in Q2. Expects to maintain dividend at current level. Comments taken from Q1 earnings conference call.

09:15 EDT CarGurus offers contactless options to purchase a vehicle - CarGurus announced new digital safety and convenience features in its effort to support dealerships and consumers during COVID-19. Amid the current COVID-19 restrictions, the company is now offering ways for its subscribing dealers in the U.S., U.K., and Canada to inform in-market shoppers about how they can safely communicate and connect regarding the vehicles they are interested in purchasing. As shoppers adhere to their local regulations for conducting retail activity, CarGurus' new array of search features will help those who are able to shop for a vehicle to do so safely. For those subscribing dealerships, the new search filter and vehicle description features can be applied to their inventory on CarGurus.com. Those dealerships can opt into any or all of the following services that they are able to provide to shoppers: Social Distancing Appointments - Dealers can schedule appointments with shoppers to visit their dealerships, and confirm specific timing to ensure social distancing. Virtual Appointments - Shoppers can schedule a virtual meeting with a dealership to conduct a virtual walk-around of the vehicle. Contactless Purchase - Shoppers can either pay for or finance a vehicle remotely, by either phone or email, and any paperwork will be delivered to them. Free Test Drive at Home - In up to a 25 mile radius for the U.S. and U.K. or roughly a 50 kilometer radius in Canada, vehicles can be brought to a shopper's residence so they can safely test drive it with no commitment to purchase. Free Home Drop Off - In up to a 25 mile radius for the U.S. and U.K. or roughly a 50 kilometer radius in Canada, a dealer will deliver a vehicle and the associated paperwork to those shoppers that commit to purchasing it.

09:09 EDT LPL Financial appoints Judy Ricketts EVP, operations - LPL Financial announced that Judy Ricketts has joined the firm as EVP, Operations, effective April 13. In this role, Ricketts leads the firm's strategy to optimize the effectiveness of the firm's Operations organization to deliver a differentiated service experience to LPL advisors and institutions and their clients. She is based at the firm's Carolinas campus and reports to Dayton Semerjian, LPL chief customer care officer and managing director, Service, Trading, and Operations. Ricketts joins LPL from TD Ameritrade, where she was most recently managing director, Retail Investor Services, leading the retail contact center.

09:07 EDT Net 1 UEPS donates to Solidarty Fund, other COVID-19 initiatives - Net 1 UEPS Technologies announced that, in support of the recent call for support by the South African President, all of Net1's non-executive directors and its South African based executives have taken salary, benefit and fee reductions of 30% for the three months to June 30. These amounts will be donated to The Solidarity Fund and other related initiatives to assist in the fight against the Covid-19 pandemic in South Africa and its impact on various critical functions such as healthcare, social assistance and education.

09:05 EDT Moderna partners with Ginkgo Bioworks for COVID-19 vaccine candidate - Moderna is entering a collaboration with Ginkgo Bioworks focused on exploring potential optimizations to Moderna's processes for generating some of the key raw materials used in the manufacturing of its mRNA vaccines, including for mRNA-1273, Moderna's vaccine candidate against COVID-19. Ginkgo Bioworks is contributing its platform infrastructure and expertise to the project. Through leveraging Ginkgo's bioengineering know-how and resources, Moderna aims to accelerate its plans to improve the efficiency of this upstream raw material manufacturing process. Ginkgo has invested $400M during the last five years to build a 100,000-square-foot facility for automated bioengineering that is used today to support partners like Roche and Bayer with a range of infrastructure for biotechnology research and development. Ginkgo is contributing its microbial discovery, production, and fermentation infrastructure to companies and academic researchers working on coronavirus response. The company intends to provide $25M in free work at its Boston-area location to support the effort.

09:03 EDT BofA expects consumer losses to increase later this year, potentially into 2021

09:03 EDT Cleveland-Cliffs provides company update amid COVID-19 pandemic - Steel and iron ore are considered essential by states in which the company operates. Iron ore pellet, automotive and non-automotive steel shipments continue to be delivered as customers for all of these products continue to place orders. In response to COVID-19, employees check temperatures and symptoms before entering workplace each day. The company announced a work-from-home policy for those who are able was put in place ahead of government guidelines. The company says stringent social distancing procedures were put in place within operating facilities. The company says the following were temporarily idled until market conditions improve: Dearborn Works, all Precision Partners facilities, Toledo HBI construction and approximately 65% of AK Tube Production. The following have extended outage: Mansfield Works and Butler Works. The following have been Indefinitely idled: AK Coal. Northshore mine and Tilden mine will be idled in mid-April. Variable costs have been largely eliminated at idled facilities . The company has the ability to reduce/defer annual capital expenditures by approximately $200M in stress case. Run rate synergy achievement of $120M per year accelerated to October. Working capital has been release from reduction of finished pellet inventories related to idle of Northshore and Tilden mines. The company plans to suspend future dividends and a 40% pay decrease for CEO. The company anticipates $150M in liquidity relief from CARES Act.

09:01 EDT COVID-19 trial of remdesivir in China suspended due to lack of eligible patients - A trial of Gilead's remdesivir in adults with mild and moderate COVID-19 that was sponsored by Capital Medical University in China has been suspended since "the epidemic of COVID-19 has been controlled well at present [and] no eligible patients can be recruited," according to a post to the clinicaltrials.gov website last updated on April 15. In pre-market trading, Gilead shares have fallen $2.60, or 3.3%, to $75.15. Reference Link

09:00 EDT LyondellBasell sees Q1 net income $110M-$180M, lowers 2020 CapEx - LyondellBasell announced estimated Q1 financial results and provided an operational update. Q1 net income is expected to be $110M-$180M. EBITDA is estimated to be $610M-$680M, $1.055M-$1.075M excluding non-cash inventory valuation charges. Events surrounding the ongoing coronavirus pandemic and the significant drop in the price of oil continue to evolve and impact global markets for LyondellBasell's products. Currently, all of its major global manufacturing sites are operational and demand for products used in packaging and medical applications remains robust. The company's manufacturing operations have been designated as an essential industry. In response to lower demand for certain products, the company has temporarily idled production at several small plants in the Advanced Polymer Solutions segment serving automotive end markets and appropriately reduced production rates at other plants. Lower oil prices and reduced demand for transportation fuels are affecting both volumes and margins for our Refining segment and Oxyfuels & Related Products business. These impacts are expected to adversely affect Q2 results. The company is postponing selected growth projects and planned maintenance, including slowing construction activities on the PO/TBA plant in Houston, expected to reduce 2020 CapEx by approximately 20% from prior guidance of $2.4B to current outlook of $1.9B. As of March 31, total debt was $13.7B with available liquidity of $3.2B, including $1.8B in cash and short-term investments.

08:59 EDT Progress Software to hold Annual Meeting of Stockholders virtually - Progress announced that, in light of public health concerns related to the COVID-19 pandemic, its 2020 Annual Meeting of Stockholders has been changed to a virtual meeting format. Progress previously advised in its Notice of 2020 Annual Meeting of Stockholders that the Annual Meeting may be held by means of remote communication, and today confirmed that, due to the public health impact of the COVID-19 pandemic and to support the health and well-being of its stockholders, employees and the community, the Annual Meeting will be held in a virtual meeting format only. Attendees will not be able to attend the Annual Meeting in person. As previously announced, the Annual Meeting will be held on Thursday, May 14, 2020 at 10:00 a.m. Eastern time.

08:58 EDT Bank of America: NII could approach $11B in Q2, begin to stablize after

08:51 EDT Bank of America CEO: Clients' loan draws have slowed in April

08:49 EDT Huize announces share repurchase program up to $10M - Huize Holding announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to $10M of its outstanding American depositary shares over the next 12 months, subject to relevant rules under the Securities Exchange Act of 1934, as amended, and the Company's insider trading policy.

08:47 EDT Celsion reports sufficient events reached in analysis of Phase III OPTIMA study - Celsion Corporation announces that the prescribed minimum number of events of 158 patient deaths has been reached for the second pre-specified interim analysis of the OPTIMA Phase III Study with ThermoDox plus RFA in patients with hepatocellular carcinoma, or primary liver cancer. Following preparation of the data, the Independent Data Monitoring Committee is expected to meet in July to conduct the second interim analysis. Celsion expects to announce iDMC recommendations as soon as possible after the meeting. The hazard ratio for success at 158 deaths is 0.70, which represents a 30% reduction in the risk of death compared with RFA alone. This compares favorably with the hazard ratio of 0.65 observed in the prospective HEAT Study subgroup upon which the OPTIMA Study is based. The OPTIMA Study was fully enrolled in August 2018 with 556 subjects from 65 clinical sites in 14 countries. The design of the OPTIMA Study is based on the Company's HEAT Study, in which a prospective subgroup analysis of 285 subjects received a single ThermoDox administration in combination with a 45 minute or longer RFA procedure in patients with a single lesion of 3-7 cm in size. Followed prospectively for 3 years, those patients treated with ThermoDox demonstrated a median survival of more than 7 1/2 years and a survival benefit of more than 2 years over the control group. These data were published in the October 2017 issue of the peer-reviewed journal Clinical Cancer Research, and are available here. In November 2019, Celsion announced the iDMC evaluation of the safety and data integrity for all 556 patients enrolled in the OPTIMA Study in its first pre-planned interim analysis following 128 events, which occurred in August 2019. During that review the iDMC unanimously recommended that the OPTIMA Study continue as planned. That data review demonstrated: The OPTIMA Study patient demographics and risk factors are consistent with what the Company observed in the HEAT Study subgroup with all data quality metrics meeting expectations. Median PFS for the OPTIMA Study reached 17 months as of August 2019. These blinded data compare favorably with 16 months median PFS for the 285 patients in the HEAT Study subgroup of patients treated with RFA greater than45 minutes and followed prospectively for overall survival. Median OS for the OPTIMA Study had not been reached as of August 5, 2019; however, median OS appears to be consistent with the HEAT Study subgroup of patients treated with RFA greater than45 minutes and followed prospectively for overall survival.

08:43 EDT Bank of America CEO: Bank's role is 'to keep economy moving' during pandemic

08:42 EDT Best Buy to furlough approximately 51,000 employees, announces sales update - Beginning April 19, Best Buy is temporarily furloughing approximately 51,000 domestic hourly store employees, including nearly all part-time employees. The company is retaining approximately 82% of its full-time store and field employees on its payroll, including the vast majority of in-home advisors and Geek Squad agents. Furloughed employees will retain their health benefits at no cost to them for a minimum of three months. Beginning April 19, some corporate employees are participating in voluntary reduced work weeks and resulting pay, as well as voluntary furloughs. CEO Corie Barry will forego 50% of her base salary and the members of the board will forego 50% of their cash retainer fees through at least September 1. Company executives reporting directly to the CEO will take a 20% reduction in base salary through at least September 1. The company is lowering merchandise receipts to match demand with a focus on essential items for customers, extending payment terms in partnership with key merchandising vendors, reducing promotional and marketing spend aligned to temporary operating model, lowering capital spend to focus on mandatory maintenance or high-value strategic areas and suspending 401(k) company matching program. In order to help employees financially impacted by the pandemic, Best Buy has partnered with its founder, Dick Schulze, to establish a $10M employee assistance fund, available to all part- and full-time hourly employees who have been with the company longer than one year. Best Buy and Schulze shared equally in the creation of the fund and the company's portion was paid by repurposing the majority of its annual corporate giving budget. The company's sales for the nine-week period ended April 4, declined approximately 5% on a year-over-year basis. The company's quarter-to-date sales through March 20, grew approximately 4% and were ahead of original expectations. In the eight-day period ended March 20, sales grew approximately 25% as the company experienced a surge in demand across products that people need to work or learn from home, as well as those products that allow people to freeze food. While the company is still seeing heightened demand for these products, as well as gaming products, the company's year-over-year sales declined approximately 30% from March 21, when the company announced its decision to shift to the interim operating model and close all of its domestic stores to customer traffic, through April 11.

08:39 EDT Bank of America CEO: COVID-19 'affecting every aspect of our business' - Comments taken from Q1 earnings conference call.

08:36 EDT Plantronics reports headset supply chain disruptions - Plantronics reported that, while the Company currently has a significant backlog, it continues to experience supply chain disruptions. On April 14, the company's Mexican manufacturing facility, the primary manufacturing source of the company's headset product, has been closed temporarily through April 30 as a result of the COVID-19 "shelter in place" directive in Mexico. The company is working with its supply chain and dual source partners to take the necessary steps to mitigate disruption of supply. There can be no assurance that the ongoing disruptions due to COVID-19 will be resolved in the near term.

08:35 EDT Plantronics suspends quarterly dividend - Poly's board of directors has authorized the suspension of the quarterly dividend to further preserve financial flexibility. The dividend suspension will result in approximately $25M of annualized cash savings, which Poly expects to utilize for deleveraging and strengthening the balance sheet.

08:33 EDT Peck provides COVID-19 update - Peck provides an update regarding Peck's response to the COVID-19 pandemic. Under the uncertain conditions of the current COVID-19 pandemic, Peck is proud to continue providing service and maintenance in support of critical infrastructure, including utilities and telecommunications. Peck values our employees and will continue employment for our core team during these difficult times. The company has entered into a re-hire agreement with the local IBEW 300 to allow for a smooth transition once new construction projects resume. In addition, the company has applied for support through the Payroll Protection Program. Peck plans to utilize this program to maintain ongoing operations and support our core employees during this time of uncertainty. On December 26, 2019, the company sold solar assets to a customer for approximately $4.2 million which was included in our accounts receivable balance at December 31, 2019. Our customer has remitted approximately 90% of the outstanding balance due, consistent with the agreed upon payment terms. Peck CEO, Jeffrey Peck, commented, "These cash inflows bolster our balance sheet and enable us to continue to execute on our strategic plan while we navigate through this uncertain economic landscape brought upon by the COVID-19 pandemic. We will continue to be disciplined in our financial and operational execution and find opportunities to advance our mission to be a leader in the commercial solar EPC industry." Mr. Peck continued, "I have noticed that over the past 50 years in operation, our legacy has continued based on how we have successfully managed through the challenging times."

08:31 EDT Inpixon awarded contract to supply indoor mapping platform for shopping centers - Inpixon announced it has secured a contract with a new customer to provide indoor maps for more than two dozen shopping centers in Europe and Asia. The contract is expected to generate both up-front professional services revenue as well as recurring software license revenue.

08:28 EDT Vlocity announces digital transformation program with Telecom Argentina - Vlocity announced a digital transformation program with Telecom Argentina. The transformation simplified Telecom Argentina's systems and processes after multiple acquisitions, while upgrading the customer experience for nearly 30 million subscribers. Together with Bluewolf, an IBM company, Nokia and Salesforce, Vlocity leveraged deep telecommunications industry expertise to support Telecom Argentina in its digital transformation journey. Telecom Argentina started working with Vlocity and partners Bluewolf, an IBM company, Salesforce and Nokia, following the close of its merger with Cablevision. The merger was designed to establish Telecom Argentina as the first regional provider of quadruple play services-combining mobile, broadband, television, and fixed-line phone services. Telecom Argentina's previously siloed legacy systems made it difficult to run the business, slowed new product and services delivery, and made a full 360-degree customer view impossible. Those siloed systems are now a thing of the past. Today, agents have one system log-in vs. eight.

08:22 EDT TFF Pharmaceuticals announces CRADA with USAMRIID - TFF Pharmaceuticals has entered into a Cooperative Research and Development Agreement, or CRADA, with the United States Army Medical Research Institute of Infectious Diseases, or USAMRIID, part of the U.S. Army Medical Research and Development Command and the U.S Army's premier institution and facility for defensive research into countermeasures against biological warfare, located on Fort Detrick, Maryland. Under the terms of the CRADA, TFF Pharma and the USAMRIID will collaborate over a 3-year period to investigate Thin Film Freezing to formulate two different countermeasures, a monoclonal antibody against Alphaviruses and a vesicular stomatitis virus vaccine against Filoviruses. USAMRIID will evaluate the immune responses induced by the dry powder formulations given by the pulmonary or intranasal route in a rodent model, as compared to the traditional routes of administration.

08:16 EDT MannKind receives $4.9M forgivable loan under Paycheck Protection Program - MannKind Corporation announced that it received a loan of approximately $4.9M from JPMorgan Chase Bank, N.A., as lender, pursuant to the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act on April 10, 2020. The PPP loan matures on April 9, 2022 and bears interest at a rate of 0.98% per annum. Payments of principal and interest commence in November 2020. The PPP loan may be prepaid by MannKind at any time prior to maturity with no prepayment penalties. All or a portion of the PPP loan may be forgiven by the U.S. Small Business Administration upon application by MannKind beginning 60 days but not later than 120 days after loan approval and upon documentation of expenditures in accordance with the SBA requirements. Under the CARES Act, loan forgiveness is available for the sum of documented payroll costs, covered rent payments, covered mortgage interest and covered utilities during the eight week period beginning on the date of loan approval. For purposes of the CARES Act, payroll costs exclude compensation of an individual employee in excess of $100,000, prorated annually. Not more than 25% of the forgiven amount may be for non-payroll costs. Forgiveness is reduced if full-time headcount declines, or if salaries and wages for employees with salaries of $100,000 or less annually are reduced by more than 25%. In the event the PPP loan, or any portion thereof, is forgiven pursuant to the PPP, the amount forgiven is applied to outstanding principal. MannKind intends to use all proceeds from the PPP Loan to retain employees, maintain payroll and make lease, mortgage interest and utility payments.

08:15 EDT Kratos Defense awarded sole-source contracts totaling over $19M - Kratos Defense & Security Solutions announced that the Kratos Unmanned Systems Division has recently received sole-source contract awards totaling more than $19M for the purchase of 21 high-performance jet target drones and spares. As a part of one of the contracts, Kratos will also provide development engineering to enable key specific mission capability for that customer. Due to competitive, customer-related, and other considerations, no additional information will be provided related to these new contract awards.

08:12 EDT Mersana Therapeutics appoints Martin Huber to board of directors - Mersana Therapeutics announced the appointment of Martin H. Huber, M.D., to its Board of Directors, effective immediately. Huber most recently served as SVP and CMO at TESARO.

08:11 EDT Origin Agritech receives RMB137.66M from Beijing Changping Technology - Origin Agritech has received RMB137.66M from Beijing Changping Technology Innodevelop Group. Origin has entered a definitive framework agreement with Beijing Changping, or BC-TID, under which Origin and BC-TID will use Beijing Origin Seed as the target joint venture entity. The company will contribute the Origin Life Science Center building in Beijing and two biotech corn traits to the joint venture and BC-TID will fund the joint venture with a total of RMB204M. The company will restructure Beijing Origin and transfer the unrelated assets to Beijing Origin State Harvest Biotechnology, the wholly owned subsidy of the company. BC-TID will then inject its cash investment into Beijing Origin to hold 51% of equity in Beijing Origin. The cash of RMB137.66M received is currently in the form of loan, which will be converted to equity according to the definitive framework agreement. Such equity investment will significantly increase the Company's shareholder's equity and bring the company to compliance with NASDAQ's listing rules regarding the capital deficiency. BC-TID is wholly owned by the local government of Changping District in Beijing and was setup as an industrial investment platform. With over RMB10B in assets, BC-TID mainly invests in the companies in the industrial parks of Changping District, where Origin Life Science Center building is located.

08:08 EDT Sysco donates 13.5M meals in four weeks - Sysco announced it has donated more than 13.5 million meals over the last four weeks across the global regions where it operates as part of its community response strategy to the COVID-19 pandemic. Working closely with suppliers, customers and government entities, along with key partners like Feeding America in the U.S., Second Harvest in Canada and FareShare in the U.K. and Ireland, among others in Europe, the Company continues to find new ways to address increasing food insecurity and the added constraints on the supply chain and food systems during these challenging, unprecedented times. Sysco's four-pronged community response strategy supports food redistribution efforts across the global supply chain, including product donations, direct delivery to food banks and other hunger relief organizations, the loaning of refrigerated trucks and facility storage space to increase capacity for local food distribution, and volunteer and staffing support for mobile distribution efforts. In the coming days and weeks, the Company will continue to assess product inventory systemwide that will be identified for donation; coordinate transportation and logistics support to address capacity constraints; and support mobile pantry and drive-through distribution models.

08:08 EDT China Pharma launches mask production lines - China Pharmaceutical's subsidiary Hainan Helpson Pharmaceutical launched mask production lines. The masks are produced in Class 100,000 Clean Roo; air cleanliness class refers to the classification criteria for classification by maximum concentration limits of particles that are greater than or equal to the particle sizes under consideration in the Clean Room.

08:06 EDT Synalloy files definitive proxy statement, issues letter to shareholders - The board of Synalloy filed its definitive proxy statement and issued a letter to shareholders. The letter said, " Thank you for your continued investment in Synalloy Corporation... The 2020 Annual Meeting of Shareholders (the "Annual Meeting") will be held on June 30, 2020 at 9:00 AM ET. This year's Annual Meeting is a particularly important one, as you will be asked to make a critical decision regarding the future of Synalloy. Privet Fund Management LLC ("Privet") and UPG Enterprises LLC ("UPG") are attempting to seize control of the Board of Directors (the "Board") by nominating five directors to your Board of eight directors. Even though they intend to take over your Board, and therefore the management and business of Synalloy, Privet and UPG have not offered shareholders a control premium. Waging a costly and distracting proxy contest, with the goal of dismantling Synalloy's Board and management team during a global health and economic crisis, not only threatens to destabilize the business but also could destroy shareholder value. Your vote is extremely important. As you make this critical decision about the future of your Company and your Board, we would like to highlight the following reasons why supporting your independent and experienced Board represents the best path to protect the value of your investment... Through Multiple Business Cycles In 2018, the Company produced record operating profits and Adjusted EBITDA, up 30% and 71%, respectively, over previous Company records set in 2014.1 In 2019, U.S. consumption for stainless steel pipe and tube decreased dramatically to 2016 recession levels. Despite these macroeconomic headwinds, the Company reduced net debt in 2019 by approximately $21 million, effectively paying for the bulk of the ASTI acquisition in one year. Expecting a continued challenging macroeconomic environment for the Company's end markets in 2020, your Board and management decisively executed a cost cutting initiative generating savings in excess of $6 million to forecast an Adjusted EBITDA margin of 6.5% on the high end of the guidance.2 Prudent capital allocation decisions well position the Company to thrive following the pandemic-related economic downturn. Your Board and management's judicious business stewardship, capital allocation and cost management position all Synalloy shareholders to benefit over the long term. Synalloy's track record of outperformance among other metals companies in terms of total shareholder return over the last three- and five-year periods3 is the clearest indicator that your Board is the best steward of your capital over the long term, in contrast to Privet's and UPG's unproven and speculative strategy... Your Board has continuously and constructively engaged with Privet since it first became a shareholder in the Company four years ago. During this time, we have regularly welcomed - and in many cases, implemented - feedback from Privet, including on our strategic plan and M&A prospects. Indeed, we also entered into a bilateral NDA with Privet that lasted for 13 months in order to facilitate our robust engagement. Shareholders should be reminded that, over the course of its investment in Synalloy, Privet has made multiple bids to acquire the Company that were highly contingent and never included financing sources, despite repeated requests from the Company to share these sources with us in order to attempt to advance a dialogue with Privet's principals. In fact, Privet's principals frequently complimented the Board and management team for assembling great businesses and for operational excellence. Despite our efforts to engage with Privet in an above-board manner at all times, not once did Privet or any of its principals raise any of the criticisms about the Board, management team or business that Privet chose to voice for the first time publicly just a matter of weeks ago when it launched a board-overhaul proxy fight with UPG on barely any notice... Synalloy's Board and management team are laser-focused on maintaining the stability of the Company's business and workforce in the face of the COVID-19 global pandemic and highly volatile macro-economic market conditions. Despite the "ambush" style in which Privet and UPG have launched their change-of-board-control proxy fight, we have continued to engage constructively with Privet and UPG and have made several overtures to them for the benefit of all shareholders to avoid a proxy fight. This includes a fair settlement proposal which included Privet/UPG's designation of two Board seats as well as input on governance practices that we believe are outsized relative to their combined stake in the Company. Even though Privet and UPG publicly rejected our most recent offer without offering any counter, we remain open to hearing alternatives from them in order to reach a collaborative solution... Synalloy's Board prioritizes delivering value and liquidity to shareholders, and has committed to conducting a comprehensive review of strategic alternatives with independent advisors, including a sale of all or part of the Company, and a review of management succession, once the market has stabilized following the global health and economic crisis. On the other hand, Privet and UPG are proposing a Board, business and management overhaul in the middle of a highly unstable market with - at best - a speculative and unproven plan that could jeopardize the value of your investment in Synalloy... Your independent and highly qualified Board consists of experts with deep industry-specific experience in manufacturing, supply chain and logistics, as well as legal, regulatory, finance and corporate governance matters. We continue to guide the Company's corporate strategy, while stewarding Synalloy's business through strong corporate governance practices and routine engagement with shareholders and the implementation of their feedback. The entire management team has significant experience with manufacturing companies, including metals related businesses. At the business unit level, the Company has maintained excellent leadership continuity by retaining management teams post-acquisition..."

08:05 EDT GSX Techedu 'firmly denies' allegations in Citron Research report - GSX Techedu firmly denied the false and ungrounded allegations raised in a report by Citron Research dated April 14. The company strongly believes that the report contains numerous errors, unsubstantiated statements, and misinterpretation of information. Specifically, the company has two K-12 live large course brands, Gaotu and Genshuixue, with Gaotu contributing more than a majority of the company's net revenue from K-12 courses. The report falsefully equated the revenue from Genshuixue to the company's entire revenue from K-12 courses, showing an apparent ignorance of the company's business. Notably, hours after initially issuing the report on April 14, Citron removed the portion of the report that included the data collection methodology which they used to support its core allegation, implying doubt of its own research methodology. GSX will consider any necessary and appropriate course of action to protect the interest of the company and all of its shareholders, as well as its students, instructors and other constituents. The company endeavors to provide full and accurate disclosure to investors and to rebut any false claims that attempt to impair market confidence in GSX's business, operations and financial statements. GSX is committed to maintaining the highest standards of corporate governance, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the United States SEC and the New York Stock Exchange.

08:05 EDT Washington Prime provides COVID-19 update, furloughs, lays off ~20% of workforce - Washington Prime Group announced an update on several fronts. In its continued recognition of the need to address the coronavirus (COVID-19) pandemic, the company will continue to work with tenants as well as relevant federal, state and local authorities to assess when it's safe for communities to return to normal and accordingly begin to reopen its enclosed assets. The company anticipates a portion of its open air centers, which represent approximately 40% of total net operating income, or NOI, or 58 assets within the portfolio, to continue to remain open to offer essential goods and services to the extent permitted by law. Based upon the continued uncertainty due to COVID-19, the company is taking additional proactive measures to enhance liquidity and financial flexibility. Lou Conforti, CEO and Director of Washington Prime Group, stated: "As stated previously, even when taking into account the reality of dramatically reduced rental collections during the next quarter or so, Washington Prime Group anticipates having the ability to self fund itself during 2020 based on projections for the remainder of the year. We've stress tested these cash flows for a variety of 'ramp up' and deferred payment scenarios. These include delivery of projects currently under construction to the extent a tenant still anticipates opening during the latter half of the year. Notwithstanding, we deemed it prudent to recently draw down the remaining ~$130M of availability on our revolving credit facility in order to buttress our cash position. To further preserve cash, the Board has decided to temporarily suspend the quarterly cash dividend for common shares and operating partnership units throughout the remainder of the year with a potential true up of the fourth quarter 2020 dividend payment in order to address the company's REIT taxable income distribution requirements. This national emergency has prompted Washington Prime Group to take necessary measures regarding corporate overhead and other cost saving measures. This has translated into a combination of furloughs and layoffs impacting ~20% of our workforce, field and corporate. This belt tightening also includes a freeze on hiring, terminating third party vendor contracts when applicable and senior management temporarily reducing base salaries."

08:04 EDT Citi CEO: Q1 earnings 'significantly impacted' by COVID-19 pandemic - Michael Corbat, Citi CEO, said, "Our earnings for the first quarter were significantly impacted by the COVID-19 pandemic. We managed our expenses with discipline and had good revenue performance as the economic shocks caused by the pandemic weren't felt until late in the quarter. However, the deteriorating economic outlook and the transition to the new Current Expected Credit Loss standard caused us to build significant loan loss reserves. COVID-19 is a public health crisis with severe economic ramifi-cations. All of the work we have done in recent years has put us in a very strong position from a capital, liquidity and balance sheet pers-pective. While no one knows the severity or longevity of the virus' impact on the global economy, we have the resources we need to serve our clients without jeopard-izing our safety and soundness.

08:03 EDT Citi reports Q1 efficiency ratio 51.1%, ROE 5.2%, RoTCE 6% - Reports Q1 CET1 capital ratio 11.2%, SLR 6%, payout ratio 180%.

08:02 EDT Citi reports Q1 fixed income markets revenue $4.8B, up 39% - Citigroup's allowance for loan losses was $20.8 billion at quarter end, or 2.91% of total loans, compared to $12.3 billion, or 1.82% of total loans, at the end of the prior-year period. Citigroup's end-of-period loans were $721 billion as of quarter end, up 6% from the prior-year period. Citigroup's book value per share of $83.75 and tangible book value per share of $71.52 each increased 9% versus the prior-year period, driven by the net income and the reduced share count. GCB revenues of $8.2 billion increased 1% on a reported basis and 2% in constant dollars. ICG revenues of $12.5 billion increased 25%, as strong performance in Fixed Income and Equity Markets, and mark-to-market gains on loan hedges, were partially offset by lower revenues in Corporate Lending and Treasury and Trade Solutions. Corporate / Other revenues of $73 million declined 84%, reflecting the wind-down of legacy assets, the impact of lower rates and marks on legacy securities. Fixed Income Markets revenues of $4.8 billion increased 39%, reflecting strength in rates and currencies and commodities. Equity Markets revenues of $1.2 billion increased 39%, with strong performance in derivatives, including an increase in client activity, due to higher volatility.

08:02 EDT Under Armour appoints Lisa Collier as Chief Product Officer - Under Armour appointed Lisa Collier as Chief Product Officer. Collier joins Under Armour after leading NYDJ - Not Your Daughter's Jeans - as President and CEO from 2016-2019. Prior to joining NYDJ, she held numerous positions over her 13-year career with Levi's Strauss. She will succeed Kevin Eskridge, who resigned as Chief Product Officer and will depart the company in August. Collier will work closely with Eskridge to ensure a smooth transition.

07:35 EDT Equinox Gold provides corporate update - Equinox Gold provided a corporate update. Effective at market close on April 17, the company will be added to the GDX - VanEck Vectors Gold Miners ETF. On March 20, Equinox Gold was added to the GDXJ - VanEck Vectors Junior Gold Miners ETF. The company is continuing to rely on temporary blanket relief published by Canadian securities regulators to file its Annual Information Form for 2019, and expects to file its AIF on or before May 15. The company's directors, officers and other insiders are subject to a trading blackout until such time as the AIF is filed. The company confirms that all material business developments since the March 27th news release have been press released and material change reports filed on SEDAR. The company also intends to file its Annual Report on Form 40-F with the SEC at the same time as the AIF.

07:33 EDT Bellicum Pharmaceuticals completes sale of Houston facility for $15M - Bellicum Pharmaceuticals announced closing of the sale of its Houston facility to The University of Texas MD Anderson Cancer Center at a purchase price of $15M. In January 2020, Bellicum entered into an asset purchase agreement under which MD Anderson would acquire Bellicum's approximately 60,000-square-foot Houston facility, including manufacturing, office and laboratory space. As part of the transaction, Bellicum also entered into a master services agreement with MD Anderson. Following completion of the transaction, MD Anderson will operate the Houston facility for its own internal programs as well as to manufacture Bellicum's GoCAR and other cellular therapy programs for clinical trials and potentially early commercial supply.

07:32 EDT Goldman Sachs CEO: Profitability affected by economic dislocation

07:32 EDT comScore and CoxReps enter local TV measurement deal - Comscore announced an agreement to provide CoxReps, a television representative company for local broadcast television stations, with full-service ratings and impressions data for all local TV markets, including Comscore's Advanced Automotive Demographics segments.

07:31 EDT Goldman Sachs: Headcount essentially unchanged vs. end of 2019

07:29 EDT Goldman Sachs to emerge from pandemic 'well positioned,' Solomon says - Chairman and CEO David Solomon commented: "As the world grapples with this terrible pandemic, we are extremely grateful for the professionalism of the healthcare specialists and other front-line workers who are bearing the greatest burden in the fight against the virus. We are in awe of their courage and are doing our part to help communities and small businesses suffering from the economic impact of the crisis. I am enormously proud of the determination and dedication of the people of Goldman Sachs, who continue to serve our clients despite high market volatility. Our quarterly profitability was inevitably affected by the economic dislocation. As public policy measures to stem the pandemic take root, I am firmly convinced that our firm will emerge well-positioned to help our clients and communities recover."

07:27 EDT Goldman Sachs reports Q1 annualized ROE 5.7%, annualized ROTE 6% - Reports Q1 book value per share $228.21. Investment Banking generated quarterly net revenues of $2.18 billion, its second highest quarterly performance. Fixed Income, Currency and Commodities generated quarterly net revenues of $2.97 billion, its highest quarterly performance in five years, reflecting strong client activity in both intermediation and financing. Equities generated quarterly net revenues of $2.19 billion, its second highest quarterly performance in five years, reflecting strength in derivatives and higher volumes in intermediation. Consumer & Wealth Management generated record quarterly net revenues of $1.49 billion, reflecting strength in both Consumer banking and Wealth management.

07:17 EDT Ready Capital reaches $2B in SBA loan approvals through PPP - Ready Capital announced that the company's national Small Business Administration lender, ReadyCap Lending, LLC, has obtained SBA approvals to fund in excess of $2B loans through the U.S. Small Business Administration's Paycheck Protection Program. Through the Coronavirus Aid, Relief and Economic Security Act, the initiative calls for existing SBA lenders to extend loans to small business to cover payroll, occupancy and operating expenses through the PPP Program. Furthermore, the PPP Program includes a 100% guarantee from the federal government for loans up to $10M and principal forgiveness for borrowers if the funds are used primarily for retaining employees. Ready Capital, through its front-end technology embedded in its iBusiness Funding platform, helps small businesses by lending, not only to its existing clients, but also new applicants. Ready Capital started taking applications the first week of April and began funding of the PPP Program on Monday, April 13th. The company will continue to fund approved loans over the upcoming weeks and is accepting applications at ppp.readycapital.com.

07:12 EDT Beazley appoints Bethany Greenwood as head of cyber, executive risk - Beazley has appointed Bethany Greenwood as global head of cyber & executive risk from July 2020. She will join Beazley's executive committee at the same time. Bethany joined Beazley last September to lead the London market and US-based executive risk team, focusing on a wide range of products including US directors & officers and employment practices liability. She will succeed Mike Donovan who has decided to retire from Beazley after 15 years with the company. However, Mike will remain with Beazley for longer to ensure a smooth handover with Bethany and the team. Also within CyEx, Paul Bantick, who currently leads the London market & international cyber & tech team, will take on global responsibility for cyber & tech from July.

07:10 EDT Precision BioSciences appoints Dora Alavarado as SVP, human resources - Precision BioSciences announced that Dora Alvarado has joined the leadership team as SVP, Human Resources. In her role, Alvarado will be responsible for all aspects of Precision's human resources operations and strategy, including overseeing the planning, development, implementation, and administration of its human resources programs. Alvarado joins Precision BioSciences with more than 25 years of experience, most recently serving as the VP of Human Resources for Premier Research, a global clinical research organization.

07:06 EDT Main Street expects to recommend suspension of semi-annual supplemental dividend - Due to the challenges and uncertainty created by Coronavirus, Main Street's management team has concluded that it expects to recommend to the Board that Main Street suspend its future semi-annual supplemental dividends, specifically including the supplemental dividend that it previously expected to pay in June 2020. Main Street believes that it is in the best long-term interests of its shareholders to not only maintain a conservative approach to its dividend policy during this volatile economic environment, but to also ensure it has the ability to be opportunistic in funding attractive investments that have the potential to provide long-term value to Main Street's shareholders.

07:04 EDT Main Street sees preliminary NAV per share $20.35-$20.85 at March 31

07:03 EDT Main Street says sufficient levels of liquidity to support existing portfolio - The company said, "Main Street continues to work collectively with its employees and portfolio companies to navigate the significant challenges created by the Coronavirus pandemic. Main Street remains focused on ensuring the safety of its employees and the employees of its portfolio companies, while also managing its ongoing business activities. Main Street remains heavily engaged with its portfolio companies and continues to be pleased with the diligent and proactive actions taken by the portfolio company management teams and their ability to respond effectively to the continuing challenges in the current environment. Main Street's lower middle market portfolio companies have also been actively evaluating the programs and relief under the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, stimulus packages that may be available to assist these portfolio companies as they navigate the impact of Coronavirus on their businesses, employees and operations. Main Street continues to believe that it has sufficient levels of liquidity to support its existing portfolio companies and selectively deploy capital in new investment opportunities and a capital structure that provides Main Street the flexibility to navigate the current challenging environment."

07:02 EDT Evelo Biosciences appoints Neil Graham as chief development officer - Evelo Biosciences (EVLO) announced the appointment of Neil Graham as chief development officer and a member of the Evelo Executive Team. Graham joins Evelo from Regeneron (REGN), where he served as VP, Strategic Program Direction, Immunology and Inflammation, from 2010-2020.

06:58 EDT Sierra Metals reports Q1 production results - Sierra Metals reported Q1 production results, with an increase in production for all metals, despite the impact of COVID-19 during the second half of March, for Sierra Metals' three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver mines in Mexico. Reports Q1 silver production of 0.9 million ounces, up 37% y-o-y; copper production of 11.8 million pounds; a 52% increase from Q1 2019; lead production of 9.1 million pounds; a 31% increase from Q1 2019; zinc production of 21.6 million pounds; a 32% increase from Q1 2019; gold production of 3,657 ounces; an 84% increase from Q1 2019; copper equivalent production of 31.2 million pounds; a 43% increase from Q1 2019; record quarterly throughput of 4,315 tons per day at the Bolivar Mine; production at Yauricocha impacted during the second half of March due to the state of emergency declared by the Peruvian government to contain advancement of COVID-19; the Yauricocha Mine achieved 22% higher throughput as compared to Q1 2019, despite being affected by the state of emergency declared by the Peruvian government on March 17. At Bolivar, a 43% increase in throughput, higher grades for all metals and higher recoveries except gold resulted in an 80% increase in copper equivalent pounds in Q1, At Cusi, a 9% increase in throughput combined with higher grades and recoveries resulted in a 28% increase in silver equivalent ounces as compared to Q1 2019. The mining operations in Mexico were not impacted by the COVID-19 pandemic during Q1. The company has suspended its 2020 production and cost guidance.

06:57 EDT U.S. Bancorp provides temporary 20% wage increase to critical employees - U.S. Bank announced a premium pay program providing a temporary 20% wage increase to more than 30,000 critical employees at branches, operations centers, and critical service locations. In addition, U.S. Bank is providing additional time off for employees affected by COVID-19. U.S. Bank is continuing to take steps to further protect the safety of employees and customers, such as temporarily adjusting branch operations, decreasing lobby usage, encouraging drive through use, and consolidating operations.

06:55 EDT U.S. Bancorp reports Q1 book value per share $30.24 vs. $28.81 a year ago

06:53 EDT Pentair names Bob Fishman as EVP, CFO and CAO - Pentair (PNR) announced three appointments to its executive leadership team, naming Bob Fishman as Executive Vice President, CFO and Chief Accounting Officer and Mario D'Ovidio as Executive Vice President and President of the Consumer Solutions segment. Jerome Pedretti has been promoted to Executive Vice President and President of the Industrial & Flow Technologies segment. Each will report to John Stauch, Pentair President and CEO. Fishman is a recognized leader with broad experience in finance. Prior to joining Pentair, he was formerly Executive Vice President and Chief Financial and Accounting Officer for NCR Corporation. (NCR)

06:50 EDT Bank of America reports Q1 provision for credit loss $4.8B vs. $1.0B last year - Q1 Provision includes $3.6B reserve build. Reports Q1 NII $12.1B, down 2% from last year.

06:49 EDT U.S. Bancorp reports Q1 net interest margin 2.91% vs. 3.16% a year ago

06:47 EDT Merck announces U.S. launch of ONTRUZANT, biosimilar of Herceptin - Merck announced the U.S. launch of ONTRUZANT, as a biosimilar of the reference biologic medicine Herceptin. ONTRUZANT is available in both 150 mg single-dose vials and 420 mg multiple-dose vials. ONTRUZANT will be introduced in the U.S. at a list price of approximately $1,325 for the 150 mg single-dose vial and $3,709 for the 420 mg multiple-dose vial, representing a 15% discount to the current list price of Herceptin. Wholesaler acquisition costs do not include discounts to payers, providers, distributors and other purchasing organizations.

06:33 EDT New Gold reports Q1 total production 103,435 gold eq. oz. - Q1 total production was 103,435 gold eq. ounces - 66,790 ounces of gold, 131,417 ounces of silver and 18.5 million pounds of copper -. The Rainy River Mine produced 51,106 gold eq. ounces, including 12 days of the temporary 14-day suspension of operations announced on March 20. Operations resumed on April 3, 2020 and will gradually be ramped up over the coming weeks. The New Afton Mine produced 52,329 gold eq. ounces -16,409 ounces of gold and 18.5 million pounds of copper - for the quarter. The company's available liquidity has increased to approximately $600M following the completion of a strategic partnership with Ontario Teachers' Pension Plan

06:17 EDT UnitedHealth president Andrew Witty to take leave to accelerate COVID-19 vaccine - UnitedHealth announced that Andrew Witty, president of UnitedHealth Group and CEO of Optum, has been asked to co-lead a global effort of the World Health Organization, or WHO, in partnership with key stakeholders, to accelerate the development of a COVID-19 vaccine. Witty will be on a leave of absence from UnitedHealth Group while leading the initiative and will return to the company at approximately year end. Witty's appointment to the position with WHO is effective April 20. During Witty's temporary assignment, Wichmann will oversee Optum. Witty was a member of the UnitedHealth board from August 2017 until March 2018, when he became CEO of Optum. He was named president of UnitedHealth Group in November 2019. Witty served as CEO and a director of GSK from 2008 until 2017, having joined the company in 1985.

06:14 EDT UnitedHealth provides update amid COVID-19 - Coronavirus is impacting the health of people around the world, as well as global economies. The company is employing and paying full wages to its entire workforce. Team members who have COVID-19, or are subject to a quarantine, are paid fully and not required to take paid time off. All costs of COVID-19 are covered fully with no cost sharing. Compensation for front line clinical workforce serving in high incidence communities was increased. Business continuity plans and clinical safety protocols are engaged fully. Within days, 90% of non-clinical workforce was transitioned to a work at home status while maintaining all service levels. More than 80 processes and protocols were developed to guide Care Delivery Organizations for COVID-19 scenarios, CDC protocols, and state and county regulations. The company accelerated nearly $2B of payments to care providers to provide needed liquidity for the health system. UNH was selected by HHS to assist in processing and distributing a portion of the $100B CARES Act funding to care delivery providers. The company has developed and tested a new self-administered COVID-19 swab protocol, which is now FDA approved, and the protocol has led to improved testing efficiency, safety and protection of health care workers and reduced consumption of personal protection equipment. UNH waived all cost sharing for COVID-19 diagnosis and treatment, while providing unlimited telehealth visits at no cost. The company has provided early refills, prolonged authorizations and increased home delivery options of medication to ensure no shortages, and hours were extended at behavioral health pharmacies to ensure medication adherence for those with mental health and substance use disorders. UNH deployed triage tools, including a symptom checker with next best action recommendations for our highest risk members. The tools provide the most up-to-date information about prevention, coverage, care and support needed to rapidly assess symptoms, schedule telehealth visits, talk with a nurse, refill or schedule home delivery for prescriptions and access to emotional support 24 hours a day. The company deployed 700 advance practice clinicians to serve members and patients on telehealth lines. UNH has quickly shifted more than 4,000 OptumCare physicians to telehealth visits that would otherwise be cancelled due to COVID-19 safety concerns. These visits are essential to ensure chronically ill patients remain well cared for while opened a special enrollment period to allow commercial customers to add employees who previously declined health benefit coverages. The company facilitated coverage transitions to ensure current members maintain health insurance. Additionally, it has allowed grace periods for employees and individuals to pay premiums. The company allocated three senior executives to major scientific discovery and relief efforts; one to assist development of a global strategy for vaccine discovery and distribution at the World Health Organization and two to provide leadership in developing and deploying New Jersey's field based hospital system. Lastly, the company will not request, nor intends to retain, any government assistance.

06:06 EDT Tutor Perini subsidiary awarded $45.7M Cape Canaveral task order - Tutor Perini subsidiary Perini Management Services has been awarded a fixed-price task order valued at approximately $45.7M by the U.S. Air Force Civil Engineer Center for work at Cape Canaveral Air Force Station, Florida. The project entails the construction of a new North Equipment Airlock addition to the existing Eastern Processing Facility with an option for a Payload Access Encapsulation Storage addition. Mobilization is expected to commence in June with completion anticipated in October 2021. The task order value will be included in the company's Q1 backlog.

06:03 EDT The9 receives Nasdaq notice of deficiency - The9 announced that it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market dated April 13, indicating that the company no longer meets the continued listing requirement of minimum Market Value of Listed Securities, or MVLS, for the Nasdaq Capital Market, as set forth in the Nasdaq Listing Rule 5550(b)(2) because the market value of the Company's securities listed on Nasdaq for the last 30 consecutive business days was below the minimum MVLS requirement of $35M. Pursuant to the Rule 5810(c)(3)(C) of the Nasdaq Listing Rules, the company has a compliance period of 180 calendar days, or until October 12, to regain compliance with Nasdaq's minimum MVLS requirement. If at any time during the Compliance Period, the company's MVLS closes at $35M or more for a minimum of ten consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. In the event the company does not regain compliance with Rule 5550(b)(2) prior to the expiration of the Compliance Period, the company will receive written notification that its securities are subject to delisting. The company's management is looking into various options available to regain compliance and maintain its continued listing.

05:15 EDT Frontier Communications files voluntary Chapter 11 petitions - Frontier Communications announced that, together with its subsidiaries, it has entered into a Restructuring Support Agreement, or RSA, with bondholders representing more than 75% of Frontier's approximately $11 billion in outstanding unsecured bonds. The RSA contemplates agreed-upon terms for a pre-arranged financial restructuring plan that leaves unimpaired all general unsecured creditors and holders of secured and subsidiary debt. Under the RSA, the Bondholders have, subject to certain terms and conditions, agreed to support implementation of a Plan that is expected to reduce the company's debt by more than $10 billion and provide significant financial flexibility to support continued investment in its long-term growth. To implement the Plan, the company and its direct and indirect subsidiaries voluntarily filed petitions under Chapter 11 of the United States Bankruptcy Code in the Southern District of New York. Frontier expects to continue providing quality service to its customers without interruption and work with its business partners as usual throughout the court-supervised process. The company has sufficient liquidity to meet its ongoing obligations. Under the RSA, trade vendors will be unimpaired for both pre- and post-petition obligations. "We are undertaking a proactive and strategic process with the support of our Bondholders to reduce our debt by over $10 billion on an expedited basis. We are pleased that constructive engagement with our Bondholders over many months has resulted in a comprehensive recapitalization and restructuring. We do not expect to experience any interruption in providing services to our customers," said Robert Schriesheim, Chairman of the Finance Committee of the Board of Directors. "With a recapitalized balance sheet, we will have the financial flexibility to reposition the company and accelerate its transformation by allocating capital resources and adding talent to enhance our service offerings to our customers while optimizing value for our stakeholders. Under the RSA, our trade vendors will be paid for goods and services provided both before and after the filing date." Bernie Han, President and CEO said, "With this agreement with our Bondholders, we can now focus on executing our strategy to drive operational efficiencies and position our business for long-term growth. At the same time, the COVID-19 pandemic continues to impact the entire business community, and our team is focused on ensuring the health and safety of our employees and customers. The services we provide to our customers keeps them connected, safe and informed, and I would like to thank our team for their continued dedication, especially in light of the current environment." In conjunction with the proposed financial restructuring, Frontier received commitments for $460 million in debtor-in-possession, or DIP, financing. Following Court approval, the company's liquidity will total over $1.1 billion comprising the DIP financing and the company's more than $700 million cash on hand. This liquidity, combined with cash flow generated by the company's ongoing operations, is expected to be available and sufficient to meet Frontier's operational and restructuring needs. The DIP financing agreement provides for the additional financing to convert to a revolving exit facility upon emergence. In addition, the company intends to proceed with the sale of its Washington, Oregon, Idaho, and Montana operations and assets to Northwest Fiber for $1.352 billion in cash, subject to certain closing adjustments, on or around April 30, and will seek Court approval to complete the transaction on an expedited basis. In conjunction with the Chapter 11 filing, Frontier will file a number of customary first day motions with the Bankruptcy Court. These motions will allow the company to continue to operate in the normal course of business without interruption or disruption to its relationships with its customers, vendors and employees. The company expects to receive Court approval for these requests.