Stockwinners Market Radar for July 21, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
NBN | Hot Stocks19:11 EDT Northeast Bancorp approves share repurchase of up to $10.2M of common stock - Northeast Bank announced that its board of directors has approved a share repurchase program to purchase up to $10.2M of common stock, or up to 600,000 shares of its common stock, representing approximately 7.3% of the Bank's outstanding common stock. Repurchases under this program may be made in open market transactions. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions, and other corporate liquidity requirements and priorities. The repurchase program does not obligate the Bank to purchase any particular number of shares.
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OKTA FDX | Hot Stocks18:24 EDT Okta CEO: Our customers are the greatest endorsement of our brand - In an interview on CNBC's Mad Money, Todd McKinnon said Okta (OKTA) is all about helping customers be successful with their own identity. We're happy to have FedEx (FDX) as a customer, he said. The beauty of the cloud is that there is no infrastructure to mess with. Companies have to balance security with ease of use, he noted.
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SNAP FB | Hot Stocks18:15 EDT Snap says hard to gauge impact of Facebook boycott - Says operating environment "particularly uncertain recently."
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IQV | Hot Stocks18:02 EDT IQVIA appoints Ron Bruehlman interim CFO - IQVIA Holdings (IQV) announced the appointment of Ron Bruehlman as executive VP and interim CFO, succeeding Mike McDonnell who is leaving the company to become CFO of Biogen (BIIB). Bruehlman was previously the CFO of IMS Health from 2011 until the merger of IMS Health and Quintiles in 2016.
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BIIB IQV | Hot Stocks18:02 EDT Biogen names Michael McDonnell as CFO, succeeding Jeffrey Capello - Biogen (BIIB) announced the appointment of Michael McDonnell as Executive Vice President and CFO, effective August 15. McDonnell joins Biogen from IQVIA (IQV), where he is Executive Vice President and CFO. At Biogen, McDonnell will lead the global finance function and operations, the company's shared services center, information technology and investor relations groups. He will report directly to Biogen's CEO Michel Vounatsos, and will be based in Cambridge, Massachusetts. McDonnell succeeds Jeffrey Capello, who has served as Biogen's Executive Vice President and CFO since December 2017. Capello will step down from his current role as CFO effective with McDonnell's appointment on August 15, and will remain with the company until September 15 to assist with the transition.
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SNAP... | Hot Stocks17:53 EDT Snap falls after daily active users lagged, social media peers lower - Shares of social media companies are trading a bit lower on Tuesday evening after Snap (SNAP) reported second quarter results. REPORTS AMID COVID-19: Snap reported a Q2 adjusted net loss per share of (9c) on revenue of $454.16M, against analyst estimates for a loss of (9c) on revenue of $438.09M. The company reported 238M daily active users, but is not providing expectations for revenue or adjusted EBITDA for Q3. Snap said, "daily active users at its Snapchat social media app lagged behind the company's forecast in Q2 as audience growth notched in the early weeks of the coronavirus peaked off." CEO'S COMMENTARY: "We continued to grow our community and business in a challenging and uncertain environment," said Snap CEO Evan Spiegel. "I am proud of our team for innovating on new experiences for our community and driving value for our partners, demonstrating the importance of our service in people's lives. We are grateful that the resilience of our business has allowed us to remain focused on our future growth and opportunity." PRICE ACTION: Snap is down 6%, in after-hours trading to $23.25 per share. OTHER SOCIAL MEDIA STOCKS FALL: Shares of Facebook (FB), Twitter (TWTR), Pinterest (PINS), and Zoom (ZM) were lower following Snap's report.
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SNAP | Hot Stocks17:43 EDT Snap sees Q3 DAUs 242M-244M
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SNAP | Hot Stocks17:41 EDT Snap seeing 'productive returns' from investments in premium content - Says has access to $4B in working capital.
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SHSP | Hot Stocks17:40 EDT SharpSpring CFO Michael Power to step down - SharpSpring announced that Chief Financial Officer Michael Power will step down from his current position effective July 20. Power was facing personal and family related reasons indirectly associated with the ongoing COVID-19 pandemic. Power's departure was not the result of any disagreement with the Company nor any issue related to the Company's financial statements or accounting practices. SharpSpring's Controller Aaron Jackson will serve in the interim CFO role and will continue to operate in that capacity until a new CFO has been appointed. Jackson has been with SharpSpring since 2017. Power will remain employed by the Company and support the transition through August 14 at a minimum. With support from the Board of Directors and other members of the management team, SharpSpring has initiated a search process with a nationally recognized executive search firm for a new CFO to execute on the Company's long-term growth plans.
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BAH | Hot Stocks17:39 EDT Booz Allen, others awarded $247M government contract - Booz Allen Hamilton, Calibre Systems Inc., Janus Research Group LLC, Tec-Masters Inc., and Yorktown Systems Group Inc., will compete for each order of the $247,000,000 firm-fixed-price contract to provide support to the Fires Center of Excellence; all commands on Fort Sill, Oklahoma; and Army Futures Command, to develop and produce training strategies, doctrine, concepts, instruction and products for the current and future force. Bids were solicited via the internet with 12 received. Work locations and funding will be determined with each order, with an estimated completion date of July 20, 2025. U.S. Army Field Directorate Office, Fort Eustis, Virginia, is the contracting activity.
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RTX | Hot Stocks17:38 EDT Raytheon awarded $375M government contract - Raytheon Missile Systems has been awarded a $375,000,000 indefinite-delivery/indefinite-quantity contract for a miniature self-defense missile. The contract provides for the research and development of a flight-test ready missile. The first task order is $93,380,234. Work will be performed in Tucson, Arizona, and is expected to be completed by October 2023. This award is the result of a competitive acquisition and two offers were received. Fiscal 2020 research, development, test and evaluation funds in the amount of $26,712,000 are being obligated at the time of award. Air Force Research Laboratory, Eglin Air Force Base, Florida, is the contracting activity.
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AUPH | Hot Stocks17:31 EDT Aurinia Pharmaceuticals: FDA accepts NDA, Priority Review for voclosporin - Aurinia Pharmaceuticals announced that the U.S. FDA has accepted the filing of its New Drug Application for voclosporin, as a potential treatment for lupus nephritis, a serious inflammation of the kidneys caused by the autoimmune disease systemic lupus erythematosus. The FDA has granted Priority Review for the NDA, which provides an expedited six month review, and has assigned a Prescription Drug User Fee Act target action date of January 22, 2021. The FDA has also informed the company that they are not currently planning to hold an advisory committee meeting to discuss the application. The FDA has the option to change this decision based on review of the pending NDA.
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SNAP | Hot Stocks17:30 EDT Snap 'confident' business is well-positioned for the long term
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TER | Hot Stocks17:24 EDT Teradyne jumps 5% to $94.00 after Q2 results, Q3 guidance beat estimates
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CALX | Hot Stocks17:21 EDT Calix jumps 5% to $18.06 after better than expected Q2 results
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SNAP | Hot Stocks17:17 EDT Snap says fundamentals of business remain strong - Says seeing strong growth in core markets. Seeing increasing engagement with company's camera. Comments taken from Q2 earnings conference call.
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ACI | Hot Stocks17:10 EDT Albertsons reports tentative pact with UFCW local unions over pension benefits - Albertsons Companies announced that it has entered into a tentative agreement with the trustees of the United Food and Commercial Workers International Union Union-Industry Pension Fund, providing that ACI will permanently cease to have any obligation to contribute to the National Fund, a multiemployer pension plan, and will completely withdraw from the National Fund, effective as of June 30, 2020. ACI and the UFCW local unions have entered into a Memorandum of Understanding that will instead establish a Variable Annuity Pension Plan, effective as of July 1, 2020, providing for future security and service benefits for ACI associates. This agreement will need to be ratified by the membership of each of these unions before it can take effect. Upon ratification of the agreement by nine local UFCW unions, ACI will pay an aggregate of approximately $286 million to the National Fund, which will be in full satisfaction of ACI's withdrawal liability amount or mass withdrawal liability amount, by June 30, 2023. ACI will pay this amount in three or four installments over the next three years, any portion of which may be prepaid, in whole or in part. Within thirty days of the establishment of the VAPP, ACI will pre-fund a transition reserve to support certain grandfathered participants by making a payment of approximately $8 to $9 million. ACI and the local unions will establish the VAPP by October 31, 2020. ACI will make monthly employer contributions to the VAPP at the same monthly rate it had contributed to the National Fund. Accrued benefits will be subject to a variable annuity calculation and be adjusted to reflect net investment returns above or below a hurdle rate of return of 5.5%. This pension benefit formula fixes the terms of ACI's projected future pension costs through June 30, 2028 for these nine local UFCW unions, lowers ACI's future financial risk and helps to protect benefits for our valuable employees. ACI expects to incur a pre-tax charge of approximately $286 million (or $213 million on an after-tax basis) to record the withdrawal liability for these benefits earned for prior service. This charge is expected to be recorded upon ratification of the agreement, which ACI expects to be in the third quarter of fiscal 2020. This charge will not affect Adjusted EBITDA and Adjusted net income for fiscal 2020 as those measures exclude adjustment items such as this contribution.
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TER | Hot Stocks17:07 EDT Teradyne says stronger than expected System on a Chip test shipments in Q2 - "Stronger than expected System on a Chip test shipments driven by accelerated demand for mobility-related test capacity, combined with success in navigating supply constraints, led to revenue and profits above the high end of our guidance range in the second quarter," said CEO and President Mark Jagiela. "Industrial Automation sales, while down from the year ago period due to the global slowdown in business activity, improved monthly through the quarter. Guidance for the third quarter reflects increased memory and storage test shipments along with production ramps of new product design wins in SOC test."
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KR | Hot Stocks17:02 EDT Kroger reaches tentative deal with UFCW local unions - Kroger announced a tentative agreement with 20 local unions of the United Food and Commercial Workers to withdraw from the UFCW International Union-Industry Pension Fund, a multi-employer pension plan. This would allow 33,000 Kroger family of companies' associates across 14 divisions to participate in a new variable annuity pension plan that improves security for future retirement benefits. This tentative agreement has been approved by Kroger and the National Fund board of trustees. The 20 UFCW local unions representing Kroger family of companies' associates have agreed to present this tentative agreement to their members for ratification. Kroger continues to expect to exceed the 2020 outlook shared in its April 1 Business Update for identical sales without fuel, adjusted FIFO operating profit, adjusted EPS and adjusted free cash flow. Pending ratification of the tentative agreement, Kroger expects to pay the National Fund withdrawal liability of $962 million, on a pre-tax basis, to fulfill obligations for past service for associates and retirees in the National Fund. Kroger would also make a $27 million contribution to a transition reserve in the new variable annuity pension plan. On an after-tax basis, the withdrawal liability and contribution to the transition reserve, total approximately $760 million. This withdrawal liability would be satisfied by installment payments to the National Fund over the next three years. The tentative agreement also establishes a pension benefit formula for the Kroger organization's contributions to the new plan through June 2028 - at which time it is subject to negotiations with the union. This effectively fixes the terms of the Kroger family of companies' collectively bargained pension obligation with these 20 UFCW local unions for the next eight years, thereby addressing Kroger's projected future pension costs and minimizing future exposure to market risk associated with the current plan. As a result of this tentative agreement, the company would incur a charge to net earnings during the quarter that respective UFCW locals ratify the agreement. This is expected to be in the third quarter of 2020. The charge to net earnings is estimated to be approximately $0.96 per diluted share on a GAAP basis. This does not affect adjusted earnings per diluted share results for 2020, which are provided on a basis that excludes adjustment items such as this contribution.
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ISRG | Hot Stocks16:59 EDT Intuitive Surgical sees Da Vinci surgeries declining further in July - Sees Da Vinci surgeries declining further in July as hospitals dedicate more efforts to COVID-19 instead of other procedures. Says impact of COVID-19 varied "widely" in Europe during the quarter. Says lease buyout revenue has fluctuated quarter-to-quarter. Says will work with customers to handle lower Da Vinci utilization.
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SNAP | Hot Stocks16:48 EDT Snap falls 6% to $23.30 after Q2 results - EPS was in-line and revenue beat estimates. The company declined to provide Q3 guidance.
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ISRG | Hot Stocks16:46 EDT Intuitive Surgical sees recovery tail for surgery likely lasting many quarters - Says surge of COVID-19 has led to fewer hospital visits for other illnesses. Sees recovery tail of surgery likely to be a long one, likely to last many quarters. Says seeing return to cases as clinical partners come through. Says working with South Korea regulators on expansions to indications. Comments taken from Q2 earnings conference call.
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COF | Hot Stocks16:40 EDT Capital One falls 5% to $59.51 after mixed Q2 results
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IRBT | Hot Stocks16:39 EDT iRobot down 5% to $81.50 following Q2 results, outlook
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IRBT | Hot Stocks16:38 EDT iRobot says second half revenue 'will grow meaningfully' over first half - The company said, "We've seen our business build steady momentum over the past three months. As a result, we move forward with improved confidence that our second-half 2020 revenue will grow meaningfully over first-half levels. We plan to stay focused on converting our second-half revenue expansion and prudent spending into solid operating profitability and EPS performance. With that said, we remain cautious given the relatively fragile state of the global macroeconomic environment. We remain committed to managing the business in ways designed to enable us to emerge from these difficult market conditions as a stronger company."
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SUM OMN | Hot Stocks16:37 EDT Summit Materials CEO Thomas Hill to step down, Anne Noonan to succeed - Summit Materials (SUM) announced that Thomas Hill plans to step down from his role as President and CEO and as a member of the Board effective September 1. At that time, Anne Noonan will be appointed President and CEO and as a member of the Board. Hill will serve as a Senior Advisor through the end of the year. Commencing on January 1, 2021, Hill will transition into a consulting role through July 2023. Most recently, Noonan served as President and CEO of OMNOVA Solutions (OMN).
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MTR | Hot Stocks16:37 EDT Mesa Royalty Trust announces there will be no distribution for July 2020 - Mesa Royalty Trus announced that there will be no distribution paid for the month ended July 2020 to holders of record as of the close of business on July 31, as costs, charges and expenses attributable to the Trust's royalty properties exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners. The Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust's administrative expenses, among other factors. The amount of proceeds received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by the volatility in commodity prices. Recently, there has been a substantial decrease in oil and natural gas prices due in part to significantly decreased demand as a result of the COVID-19 pandemic and an oversupply of crude oil. Oil and natural gas prices could remain low for an extended period of time, which in turn could have a material adverse effect on Trust distributions. Continued low oil and natural gas prices, among other things, will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. To the extent that costs, charges and expenses attributable to a royalty property exceed the revenue received from the sale of oil, gas and other hydrocarbons produced from such property in one month, such costs, charges and expenses may be recovered by the working interest owners before any distribution of royalty income from the properties will be made to the Trust in future months.
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IRBT | Hot Stocks16:35 EDT iRobot sees second half gross margin 39%-40% - The company said in prepared earnings call remarks, "In terms of gross margin expectations, as Colin said, we don't know whether an extension to our tariff exclusion will be granted. While we are hopeful, the vast majority of Section 301 extension requests have been denied thus far. Whereas our first-half gross margin was 46%, we expect second-half gross margin, on both a GAAP and nonGAAP basis, to be in the 39% to 40% range. That is slightly above our original full-year 2020 target and assumes the reinstatement of the 25% tariff next month. This would imply a full-year gross margin in the low 40% range. We expect our third-quarter gross margin to be better than our second-half average as we benefit from inventory not subject to Section 301 tariffs and execute various Q4 holiday promotions consistent with historical practices."
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BBBY FLWS | Hot Stocks16:35 EDT Bed Bath & Beyond, 1-800-Flowers.com enter settlement agreement - Bed Bath & Beyond (BBBY) and 1-800-Flowers.com (FLWS) announced that the companies have entered into a settlement agreement with respect to the litigation relating to the previously announced sale of PersonalizationMall.com. As part of this agreement, 1-800-Flowers.com has agreed to move forward with its purchase of PersonalizationMall.com from Bed Bath & Beyond for $245M, subject to certain working capital and other adjustments. The companies anticipate the transaction to close on or before August 3, subject to customary closing requirements. The closing of the transaction is not subject to any regulatory or financing conditions. Upon close of the transaction, Bed Bath & Beyond will withdraw its existing litigation against 1-800-Flowers.com and 800-Flowers, Inc. related to the purchase agreement previously announced on February 18.
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EHC | Hot Stocks16:34 EDT Encompass Health to build 50-bed inpatient rehabilitation hsopital in Lakeland - Encompass Health Corp. announced it has placed land under contract and plans to build a freestanding, 50-bed inpatient rehabilitation hospital in Lakeland, Florida, to be named Encompass Health Rehabilitation Hospital of Lakeland. Complementing local acute care services, the hospital will care for patients recovering from debilitating illnesses and injuries including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. The hospital will provide physical, occupational and speech therapies that aim to restore functional ability and quality of life and 24-hour care by registered nurses, many of whom are certified in rehabilitation nursing. "The hospital we will build in Lakeland is a freestanding, state-of-the-art physical plant. The design is specific to caring for rehabilitation patients and is based off our experience operating 12 hospitals in Florida and 136 hospitals throughout the nation," said Linda Wilder, president of Encompass Health's southeast region. "Additionally our staff is dedicated to, trained and singularly focused on the specialty practice of physical rehabilitation, which will make the services we bring a high-quality complement to the existing strong healthcare services in the area. We are very glad to have the opportunity to serve the patients and community of Lakeland and the surrounding area."
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SJM | Hot Stocks16:31 EDT J.M. Smucker raises quarterly dividend to 90c from 88c per share - The dividend will be paid on Tuesday, September 1, to shareholders of record at the close of business on Friday, August 14.
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FE | Hot Stocks16:29 EDT FirstEnergy receives subpoenas regarding Ohio House Bill 6 investigation - FirstEnergy issued the following statement: "This afternoon, FirstEnergy received subpoenas in connection with the investigation surrounding Ohio House Bill 6. We are reviewing the details of the investigation and we intend to fully cooperate."
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UAL | Hot Stocks16:26 EDT United Airlines sees July load factor of 45% - Expecting a July load factor of 45%, with less than 15% of flights with more than 70% of seats filled. Waiving change fees for tickets bought through July 31.
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BSX | Hot Stocks16:25 EDT Boston Scientific receives FDA approval for WATCHMAN FLX LAAC device - Boston Scientific announced it has received U.S. Food and Drug Administration approval for the WATCHMAN FLX Left Atrial Appendage Closure Device. The next-generation WATCHMAN FLX device is indicated to reduce the risk of stroke in patients with non-valvular atrial fibrillation who need an alternative to oral anticoagulation therapy by permanently closing off the left atrial appendage - the area of the heart where stroke-causing blood clots commonly form in NVAF. This technology, which is built upon the most studied and implanted LAAC device in the world, features a new, fully rounded design that offers physicians the ability to safely enter, and maneuver within, the left atrial appendage. It is the first LAAC device that can be fully recaptured, repositioned and redeployed for precise placement, and the new frame design allows for optimal device engagement with the tissue for long-term stability and a faster, more complete seal. The WATCHMAN FLX device is available in broader size options than the previous generation device and can treat a wider range of patient anatomies. "We've been very pleased with the real-world clinical outcomes and positive physician feedback for the WATCHMAN FLX device in Europe and are excited to extend availability of this next-generation technology to patients and clinicians throughout the U.S.," said Joe Fitzgerald, president, Interventional Cardiology, Boston Scientific. "Our WATCHMAN technology was the first FDA-approved LAAC device on the market and has been implanted in more than 100,000 patients worldwide, and now with the WATCHMAN FLX device, we are taking the clinical benefits of the technology to the next level for more patients while further differentiating our structural heart portfolio in the U.S."
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FE | Hot Stocks16:24 EDT FirstEnergy issues statment on HB 6 investigation - FirstEnergy issued the following statement: "This afternoon, FirstEnergy received subpoenas in connection with the investigation surrounding Ohio House Bill 6. We are reviewing the details of the investigation and we intend to fully cooperate."
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UAL | Hot Stocks16:22 EDT United Airlines sees FY20 CapEx approximately $3.7B
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UAL | Hot Stocks16:19 EDT United Airlines sees Q3 consolidated system capacity down 65% y/y - In third quarter, the company expects consolidated system capacity to be down 65% versus third quarter 2019. The company will continue to proactively evaluate and cancel flights on a rolling 60-day basis until it sees signs of a recovery in demand, and expects demand to remain suppressed until the availability of a widely accepted treatment and/or vaccine for COVID-19.
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TRNS | Hot Stocks16:18 EDT Transcat sees Q2 operating income $2M - The company said: ""Encouragingly, Service demand strengthened through June and into July, although we are cautious with our outlook given the trend in new cases of COVID-19 across North America. For the second quarter of fiscal 2021, we expect Service revenue to grow modestly versus last fiscal year's second quarter, and anticipate improved gross margin. Distribution is likely to remain relatively unchanged sequentially. We expect operating income to grow sequentially from the first quarter of fiscal 2021 by approximately $1 million and to be in the range of $2 million for our second quarter of fiscal 2021. Overall, we believe we are managing and navigating this pandemic well, while continuing to advance our technology in support of our growth and profitability strategy."
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UAL | Hot Stocks16:18 EDT United Airlines sees liquidity at end of Q3 over $18B - The company's total liquidity as of the close of business on Monday, July 20, was approximately $15.2B. United now expects liquidity at the end of the third quarter to be over $18B.
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FLR CRC | Hot Stocks16:18 EDT Fluor awarded engineering, design contract for CRC carbon capture project - Fluor Corporation (FLR) announced that it was awarded a front-end engineering and design contract for California Resources Corporation's (CRC) carbon capture and sequestration project, Cal Capture, at the 550-megawatt, natural gas-powered Elk Hills Power Plant in Tupman, California. The FEED is being funded by the U.S. Department of Energy through collaboration with the Electric Power Research Institute as part of a larger initiative to advance carbon capture technology development. "Fluor's commitment to helping clients achieve their clean energy goals continues with this recent award from CRC," said Mark Fields, group president of Fluor's Energy & Chemicals business. "We are honored to be selected by CRC to help them design and permit California's first carbon capture and sequestration system."
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TRNS | Hot Stocks16:18 EDT Transcat lowers FY21 tax rate view to 20%-21% from 24%-25% - This estimate includes Federal, various state, and Canadian income taxes and reflects the discrete tax benefit associated with share-based payment and stock option activity. The company anticipates total capital expenditures to be approximately $5M-$5.5M in fiscal 2021, with the majority of the capital expenditures planned for technology, growth-oriented opportunities within both of its operating segments, and rental pool assets. Maintenance and existing asset replacements are expected to be consistent with fiscal 2020 at approximately $1M-$1.5M.
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UAL | Hot Stocks16:18 EDT United Airlines says cash burn during Q2 averaged $40M/day - Cash burn during the second quarter averaged $40M a day, including $3M of principal payments and severance expenses. The company currently is forecasting average daily cash burn to be approximately $25M during the third quarter of 2020 including $6M of principal repayments and severance expenses. United believes it did the best job of matching actual capacity to demand among its largest network peers. The company also expects to finish the quarter with the lowest average daily cash burn among large network carriers.
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UAL | Hot Stocks16:17 EDT United Airlines says more than 6,000 employees took voluntary separation
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ISRG | Hot Stocks16:12 EDT Intuitive Surgical shipped 178 da Vinci Surgical Systems in Q2 - Second quarter 2020 systems revenue decreased by 24% to $261 million, compared with $344 million in the second quarter of 2019. The Company shipped 178 da Vinci Surgical Systems in the second quarter of 2020, compared with 273 systems in the second quarter of 2019. The second quarter 2020 system shipments included 52 systems shipped under operating lease and usage-based arrangements, compared with 88 systems in the second quarter of 2019.
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COF | Hot Stocks16:11 EDT Capital One reports common equity Tier 1 capital ratio 12.4% at June 30
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HCSG | Hot Stocks16:09 EDT Healthcare Services board declares quarterly dividend of 20.38c per share - The company's Board of Directors declared a quarterly cash dividend of 20.375c per common share, payable on September 25, 2020 to shareholders of record at the close of business on August 21, 2020. This represents the 69th consecutive quarterly cash dividend payment, as well as the 68th consecutive increase since the initiation of quarterly cash dividend payments in 2003.
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PSN | Hot Stocks16:09 EDT Parsons and Neology announce strategic partnership - Parsons and Neology announced the formation of a strategic partnership to jointly pursue opportunities in the infrastructure, mobility and transportation markets. The companies have a combined 110 years of experience helping cities and people move safely, efficiently and cost effectively around the world.
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COF | Hot Stocks16:07 EDT Capital One reports Q2 Provision for credit losses decreased 22% to $4.2B - Reports Q2: Net charge-offs of $1.5B, $2.7B reserve build.
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AMTD | Hot Stocks16:06 EDT TD Ameritrade: Trending 'favorably' to FY guidance metrics - The company said: "With three months to go in the fiscal year, we are generally trending favorably relative to our full year guidance metrics. Of note, NNA growth rates year-to-date are above the high end of the range and revenue is on-pace to be above the high end. Regarding expenses, we expect to be slightly higher than the range due to volume-related increases. The impact of the new employees in our service centers will depend on how quickly they can be onboarded. The expense impact of this additional headcount is expected to be $35 million to $45 million annually."
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COF | Hot Stocks16:06 EDT Capital One reports Q2 net interest margin 5.78%, down 100 bps
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BBY | Hot Stocks16:05 EDT Best Buy raises starting hourly wage for all domestic workers to $15 - Best Buy announced updates related to employee pay evolution and Q2 FY21 quarter-to-date sales performance. The company is raising the starting hourly wage for all Domestic employees to $15 effective Aug. 2. "Strong consumer demand, combined with shopping experiences that emphasize safety and convenience, has helped produce our sales results to date," Best Buy CEO Corie Barry said. "None of this would be possible without the effort and energy of our front-line employees working in stores, supply chain facilities and customers' homes. Today's announcement on pay reflects an ongoing evolution and investment in how we compensate them for their critical work and is the result of clear and consistent feedback from field employees across the country. In the early days of the COVID-19 crisis, we made a number of temporary decisions, including providing appreciation pay to hourly field employees, and we're now pleased to evolve to a more structural approach that significantly invests in paying and supporting them in ways that they have asked for and so clearly earned." Since the early stages of the pandemic, all hourly retail associates and supply chain employees who were working received incremental hourly appreciation pay. The incremental appreciation pay started March 22 and ends Aug. 1. On April 19, the company temporarily furloughed approximately 51,000 Domestic hourly store employees, including nearly all part-time employees. At that time, the company retained 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. On June 15, the company began bringing employees back from furlough, and approximately half of the 51,000 Domestic hourly employees have returned from furlough so far. The company has extended health benefits at no cost through Sept. 5 to the remaining furloughed employees currently enrolled in a Best Buy health plan. Beginning Aug. 2, the company is evolving its pay structure. Driven by extensive employee feedback, and to provide more predictability in pay, a 4% increase in hourly rate will replace short-term incentive compensation for hourly store employees below the leadership level. After the 4% hourly pay increase, employees who are not yet at $15 per hour will have their pay increased to the $15 per hour starting wage.
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IBKR | Hot Stocks16:05 EDT Interactive Brokers in talks with FINRA, SEC, CFTC on reviews - Interactive Brokers said in a statement: "The Company has provided information to FINRA, the SEC, and the CFTC concerning its historical anti-money laundering and Bank Secrecy Act practices and procedures, and these agencies have indicated that they believe that these historical practices and procedures were inadequate. The Company periodically reviews these practices and procedures to make them more robust and to respond to changing regulatory standards; and we have been enhancing and augmenting them, including hiring additional personnel, over the past several years. We are in discussions with these agencies to settle matters arising from their reviews, and while no agreements have been finalized, we believe that such settlements will entail monetary payments and the retention of an independent consultant to review the implementation of the Company's enhanced practices and procedures. The Company has established a reserve that it deems adequate for such settlements. The Company is also cooperating with a Department of Justice inquiry concerning these matters, and while its outcome cannot be predicted, we do not believe that this inquiry is likely to have a materially adverse effect on the Company's financial results."
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TXN | Hot Stocks16:04 EDT Texas Instruments CEO says weakness in the automotive market in Q2 - Regarding the company's performance and returns to shareholders, Rich Templeton, TI's chairman, president and CEO, made the following comments: "Revenue decreased 12% from the same quarter a year ago, driven primarily by weakness in the automotive market. In our core businesses, Analog revenue declined 4% and Embedded Processing declined 31% from the same quarter a year ago. Analog and Embedded Processing both had positive sequential growth in the second quarter excluding the automotive market. Our cash flow from operations of $6.3 billion for the trailing 12 months again underscored the strength of our business model. Free cash flow for the same period was $5.7 billion and 42% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy, including the benefit of 300-millimeter Analog production. We have returned $6.7 billion to owners in the past 12 months through stock repurchases and dividends. Over the same period, our dividends represented 56% of free cash flow, underscoring their sustainability. Together, our stock repurchases and dividends reflect our continued commitment to return all free cash flow to our owners."
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WSBF | Hot Stocks16:03 EDT Waterstone Financial announces share repurchase program - Waterstone Financial announced that on July 21, its board authorized a share repurchase program pursuant to which the company intends to repurchase up to 2M of its issued and outstanding shares, representing approximately 7.7% of its issued and outstanding shares of common stock. The repurchase program will commence on or about July 29. This share repurchase program follows the completion of the previous repurchase program during which the company repurchased a total of 2M shares of its common stock at a weighted average price of $15.65 per share.
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AMTD SCHW | Hot Stocks16:03 EDT TD Ameritrade: Integration planning for Schwab deal 'in full swing' - TD Ameritrade said: "Integration planning is in full swing, and we still expect the transaction will close in the second half of this calendar year. We remain committed to delivering a strong finish to our fiscal year, taking care of our clients and employees, and ensuring a smooth transition to Schwab."
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AIG | Hot Stocks15:43 EDT AIG to relocate global headquarters in New York City - American International Group earlier announced that it will relocate its global headquarters in New York City to 1271 Avenue of the Americas, where it will occupy 8 floors and 325,000 square feet. The company will also consolidate its remaining New York City area footprint into approximately 450,000 square feet divided between two new locations at 28 Liberty Street in Manhattan and 30 Hudson Street in Jersey City, New Jersey. The company plans to move into the three new offices in 2021. "By optimizing and modernizing our New York City area real estate footprint, we will align our workplaces with the objectives of AIG 200, our global, multi-year effort to position AIG for the future," said Peter Zaffino, AIG's President and Global COO. "We are designing offices in these three class A buildings that will allow our teams to work more effectively and collaboratively with high-quality infrastructure. Our people are our most important asset, and we remain committed to providing a safe and productive work environment while incorporating key learnings that have emerged while working remotely."
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UBER GRUB | Hot Stocks15:27 EDT Uber Eats waives pickup/delivery fees through 2020 for restaurants - Uber (UBER) Eats will allow restaurants to add online ordering to their websites for either pickup or delivery. Uber Eats said in part ,in an earlier in a blog posting : "The past few months have significantly reshaped our lives, and this is especially true for restaurant owners. We are inspired by their commitment to keeping kitchens running, plates full, and customers satisfied despite all the uncertainty of what's to come. Uber Eats is also committed to building products that bring true, measurable value to restaurants, which is all the more important during these unprecedented times. That's why we've worked with Technomic, an industry leader, to better understand how the restaurants that use Uber Eats think about third-party delivery, what they've valued most from us in recent months, and what we should be doing differently. We've heard loud and clear that restaurants are looking for more flexible and affordable ways to partner with Eats. Today we're launching a US pilot that will let Uber Eats restaurants add online ordering to their websites-either for pickup or delivery powered by Uber Eats-with no commission paid to Uber through the end of 2020. Restaurants are only responsible for payment processing costs." The Fly notes that Grub-hub (GRUB) is a competitor. Reference Link
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FE | Hot Stocks15:07 EDT FirstEnergy trading resumes
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FE | Hot Stocks15:02 EDT FirstEnergy trading halted, volatility trading pause
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MSFT | Hot Stocks14:41 EDT Microsoft Teams now allows third-party apps to integrate into meetings - In an earlier blog post on Tuesday, Microsoft said in part: "We're excited to announce new meetings extensibility points that will enable developers to expand the Teams meeting experience. With this new capability, developers will be able to build apps or integrate their existing ones within the meeting surface and provide a richer collaboration experiences for users across the entire meeting lifecycle - covering events and actions from before, during, and after a meeting. These new extensibility points will be available soon for developer preview over coming weeks. Until today, developers could integrate their Teams apps within the constructs of channels, 1:1 chats, and group chats - but not meetings. Now, these new meetings extensibility points provide an opportunity to enable their apps within the scope of a meeting as tabs, in new surface areas like the app panel, through in-meeting app signals for notifications, and access to critical APIs to enable powerful app experiences. Developers will be able to enable these capabilities by configuring their Teams app to be available in meeting scope within their app manifest.Developers will be able to design how their Teams app uses the app panel (right pane) within a meeting." Reference Link
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CLF | Hot Stocks14:32 EDT Cleveland-Cliffs subsidiary raises market base prices for carbon steel products - Cleveland-Cliffs announced that its wholly-owned subsidiary, AK Steel, is increasing current spot market base prices for all carbon flat-rolled steel hot rolled, cold rolled and coated products by a minimum of $40 per ton, effective immediately with new orders in North America.
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TELL | Hot Stocks14:19 EDT Tellurian surges as Petronet reportedly renews investment agreement - Tellurian (TELL) shares surged after Reuters reported that India's Petronet renewed its initial deal to consider an investment of $2.5B in Tellurian's Driftwood Project. The two parties now have until the end of December to finalize an agreement, Reuters says, noting that developers have delayed "numerous" North American LNG projects this year due to a sharp downturn in global gas prices. Shares of Tellurian rose 37.6% after the news.
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GMVHF | Hot Stocks14:09 EDT GVC Holdings says HMRC widening scope of investigation - GVC Holdings stated: "On 28 November 2019, GVC Holdings (UK) Limited, a subsidiary of GVC Holdings PLC, received an order requiring it to produce information to HM Revenue & Customs, or "HMRC," relating to the group's former Turkish facing online gambling business. At that time, the company understood that HMRC's investigation was directed at a number of former third party suppliers, relating to the processing of payments for online gambling in Turkey. Prior to 20 July, it had been understood that no GVC entity was a subject of HMRC's investigation, following requests for clarity from HMRC as to the status of its investigation. However, HMRC yesterday informed the Company that it was widening the scope of its investigation and is now examining "potential corporate offending" by an entity (or entities) within the GVC group which HMRC has not yet identified. Both the company and GVC are surprised by the decision to extend the investigation in this way and are disappointed by the lack of clarity provided by HMRC as to the scope of its investigation. HMRC has not yet provided details of the nature of the historic conduct it is investigating, with the exception of a reference to section 7 Bribery Act 2010, nor has it clarified which part of the GVC group is under investigation. In the meantime, the company continues to co-operate fully with HMRC regarding the provision of information. The group disposed of its Turkish facing business in December 2017. A further update will be provided, if appropriate." Reference Link
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CP | Hot Stocks14:08 EDT Canadian Pacific raises quarterly dividend roughly 15% to 95c per share - The board of directors of Canadian Pacific Railway declared a quarterly dividend of 95c per share on the outstanding Common Shares, an increase of approximately 15% to the previous dividend of 83c per share. "This dividend increase illustrates the resiliency of our operating model and our continued dedication to creating value for our shareholders," said CP President and Chief Executive Officer Keith Creel. "As part of our long-term commitment to sustainable, profitable growth, CP has increased its quarterly dividend in five consecutive years. Over that period, we've led the industry in dividend growth with a 171 percent increase."
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ARTW | Hot Stocks13:53 EDT Art's Way announces David King assumes role of CEO - In a regulatory filing, the company said: "As previously disclosed, Art's-Way Manufacturing hired David King as an Executive Vice President in March 2020, with the expectation that Mr. King would assume the role of CEO upon the resignation of Carrie Gunnerson as CEO of the Company in the third quarter of fiscal year 2020. Ms. Gunnerson's resignation as CEO will be effective as of July 21 and Mr. King will assume the role of Chief Executive Officer at that time. Mr. King's employment as Chief Executive Officer will continue to be governed by the previous employment agreement entered into between the company and Mr. King, effective March 30."
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GRAF VLDR | Hot Stocks13:16 EDT Velodyne Lidar announces patent license agreement with Hesai - Earlier, Velodyne Lidar announced a long-term global licensing agreement with Hesai Photonics Technology Co., encompassing 360 degrees surround-view lidar sensors. "As a result of this agreement, Velodyne and Hesai have agreed to dismiss current legal proceedings in the U.S., Germany and China that exist between the two companies," Velodyne stated. On July 2, Graf Industrial announced an agreement with Velodyne Lidar and its founder David Hall, pursuant to which Graf will combine with Velodyne through a merger of a wholly-owned subsidiary of Graf with and into Velodyne, with Velodyne surviving as a wholly-owned subsidiary of Graf. Upon the closing of the transaction, Graf will be renamed "Velodyne Lidar" and will remain NYSE-listed under the new ticker symbol VLDR. Reference Link
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IMMR | Hot Stocks13:06 EDT Immersion granted U.S. patent for haptic effect generation for VR/AR content - The patent, dated July 21 and assigned number 10,720,189 B2, describes "systems and methods for authoring and encoding haptic effects....for space-dependent content" such as virtual or augmented reality contents, according to a post to the USPTO website. Reference Link
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GOOGL... | Hot Stocks12:46 EDT Netflix now available on Google's Nest Hub, Nest Hub Max - Starting today, Netflix (NFLX) is available on Google's (GOOG) Nest Hub and Nest Hub Max, according to a blog post from Kate Whittington, product marketing manager at Google Nest. Netflix is rolling out on Nest smart displays globally wherever the service and Nest devices are currently available. "If you have a Netflix subscription, simply link your account in the Google Home or Assistant app and you can play Netflix movies, TV shows and documentaries by using your voice," Whittington said. "Say, "Hey Google, play Queer Eye" to start streaming instantly, or try, "Hey Google, open Netflix" to scroll through select content and start watching with a simple tap. Hands tied up while you're cooking? Just pause, play or skip forward with a simple ask. Or if you're watching on your Hub Max while doing the dishes or making dinner, Quick Gestures lets you easily pause or resume your video-just look at the dev ice and raise your hand." Reference Link
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JKS | Hot Stocks12:00 EDT JinkoSolar falls -8.5% - JinkoSolar is down -8.5%, or -$1.89 to $20.36.
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EBS | Hot Stocks12:00 EDT Emergent BioSolutions falls -9.6% - Emergent BioSolutions is down -9.6%, or -$9.79 to $92.27.
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AHT | Hot Stocks12:00 EDT Ashford Hospitality falls -17.2% - Ashford Hospitality is down -17.2%, or -$1.04 to $5.02.
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NBR | Hot Stocks12:00 EDT Nabors Industries rises 24.0% - Nabors Industries is up 24.0%, or $7.44 to $38.38.
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ARLO | Hot Stocks12:00 EDT Arlo Technologies rises 37.4% - Arlo Technologies is up 37.4%, or $1.04 to $3.82.
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OMI | Hot Stocks12:00 EDT Owens & Minor rises 69.8% - Owens & Minor is up 69.8%, or $5.55 to $13.49.
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LMT | Hot Stocks11:56 EDT Lockheed Martin prepared for declining defense budget - The company says it's prepared for a declining defense budget, but it would take 2-3 years to feel the impact if that occurs.
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LMT | Hot Stocks11:40 EDT Lockheed Martin comfortable with guidance, despite COVID
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LMT | Hot Stocks11:39 EDT Lockheed Martin committed to dividend
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LMT | Hot Stocks11:30 EDT Lockheed Martin sees double digit growth in F35s
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LMT | Hot Stocks11:27 EDT Lockheed Martin sees supply disruption beyond Q2
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BLL | Hot Stocks11:18 EDT Ball Aerospace selected to develop prototype antenna for U.S. Navy - Ball Corp. said in a release, "Ball Aerospace was selected by the Defense Innovation Unit, or DIU, to develop a prototype of a new multi-band, low-observable satellite communications antenna to be installed on the U.S. Navy's newest stealth ships, the DDG 1000 Zumwalt-class destroyers. Ball is leveraging its portfolios of electronically steerable phased array antenna technologies and high-performance stealth technologies to design a solution that can operate over multiple frequency bands, meet existing signature requirements and integrate into the DDG 1000 Zumwalt-class destroyer."
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LMT | Hot Stocks11:15 EDT Lockheed Martin on pace to hire 12,000 employees this year - Comments taken from Q2 earnings conference call.
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RNG AEXAY | Hot Stocks11:10 EDT RingCentral, Atos expand strategic partnership, launch co-branded UCaaS solution - Atos SE (AEXAY) and RingCentral (RNG) announced earlier the expansion of their strategic partnership with the launch of a co-branded UCaaS solution called Unify Office by RingCentral. "In addition to the system integrator relationship announced previously, the expanded partnership will now include Unify Office as the exclusive UCaaS offering for the 40 million user installed base of the Atos Unify product family. Unify Office is expected to be available starting August 31," the companies stated. Vlad Shmunis, Founder, Chairman and CEO of RingCentral, said, "By bringing Unify Office to the 40 million users of Atos Unify's family of products, we will provide organizations with the ability to accelerate digital transformation across their entire enterprise."
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AKRO | Hot Stocks11:05 EDT Akero announces publication of data from Phase 1 trial of efruxifermin - Akero Therapeutics announced the publication of data in the journal Cell Reports Medicine from the Phase 1 clinical trial of efruxifermin, a fibroblast growth factor 21 analog, demonstrating its potential to modulate biomarkers associated with metabolic diseases, including NASH. In the article entitled, "AKR-001, an Fc-FGF21 analog, showed sustained pharmacodynamic effects on insulin sensitivity and lipid metabolism in type 2 diabetes patients," researchers found that EFX demonstrated a sufficiently prolonged half-life of 3-3.5 days to support weekly dosing. In addition, with a variation in systemic concentration of only 2-fold when dosed weekly, treatment with EFX delivered larger and more consistent improvements in markers of insulin sensitivity and lipid metabolism than previously reported for FGF21 analogs, and it was reported to be generally well tolerated. Weekly administration of 70mg demonstrated larger metabolic effects than dosing every other week with 140mg, even though exposure to EFX was comparable. In patients dosed weekly with 70mg EFX in the Phase 1 study, treatment was associated with an increase in insulin sensitivity as demonstrated by reductions in HOMA-IR. This enhancement of insulin sensivity by EFX was replicated in NASH subjects and associated with better glycemic control, as recently disclosed for the BALANCED study. Treatment with EFX in the Phase 1 study was associated with amelioration of dyslipidemia, prevalent among type 2 diabetes and NASH patients, who are susceptible to cardiovascular disease. An improved lipoprotein profile was also evident with EFX treatment in the BALANCED study.
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SPOT | Hot Stocks10:59 EDT Spotify launches video podcasts with select creators - The company said, "Many podcast fans love watching their favorite podcasts as much as they enjoy listening to them. Through these visuals, fans can get to know their favorite podcast hosts even better, and creators can more deeply connect with their audiences. That's why today, Spotify is unveiling the first version of our new video podcast feature with select podcasts. Now listeners in all markets where podcasts are supported will be able to listen to or watch those podcasts as the feature rolls out. Video podcasts build upon and enhance our existing audio experience, allowing Free and Premium users to connect more deeply with their favorite podcasts with video content. Listeners can tune into podcasts like Book of Basketball 2.0, Fantasy Footballers, The Misfits Podcast, H3 Podcast, The Morning Toast, Higher Learning with Van Lathan & Rachel Lindsay, and The Rooster Teeth Podcast for a visual and audio feast...The new feature allows select creators to bring both audio and video content to Spotify, enabling them to connect more meaningfully with their listeners, expand viewership, and deepen audience engagement. It's a way to enrich the audio experience-for fans and creators alike." Reference Link
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HIBB | Hot Stocks10:50 EDT Hibbett Sports sees 'favorable rates' on gross margin - Hibbett Sports executives said on the company's Q2 earnings call that they expect "favorable rates on gross margin, primarily due to the clean inventory levels" and increased sell-throughs of new deliveries. While noting "there is somewhat of an offset there with the higher concentration of digital," the company's expect "favorable" gross margin rates. Executives added on the call that "the aged inventory is very low, and our merchants are doing an incredible job with our vendors with great support chasing down the appropriate inventory that we need to continue to drive the sales gain. So again, we are comfortable with where we are based on our results."
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WMT | Hot Stocks10:18 EDT Walmart to close Walmart stores, Sam's Club locations on Thanksgiving - Walmart announced that it has made the decision to close Walmart stores on Thanksgiving Day, Nov. 26, this year. Sam's Club locations will also be closed again this year on this day.
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WMT | Hot Stocks10:17 EDT Walmart invests $428M in additional special bonus for associates - Walmart announced it will pay out another special cash bonus to store, club, distribution center and fulfillment center associates for their ongoing contributions and dedication to serving customers, members and communities during this unprecedented time. The bonus will be $300 for full-time hourly associates and $150 for part-time hourly and temporary associates. Drivers, Managers and Assistant Managers in stores, clubs, DCs, FCs and Health & Wellness will also receive a bonus. It will add up to approximately $428M. U.S. associates employed by the company as of July 31 will qualify, and it will pay out on Aug. 20. This is the third special bonus Walmart has given to associates in 2020, totaling $1.1B in bonuses so far this year, in addition to the regular incentive it provides to frontline associates on a quarterly basis.
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MSC | Hot Stocks10:00 EDT Studio City falls -6.8% - Studio City is down -6.8%, or -$1.01 to $13.90.
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EBS | Hot Stocks10:00 EDT Emergent BioSolutions falls -8.7% - Emergent BioSolutions is down -8.7%, or -$8.92 to $93.14.
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AHT | Hot Stocks10:00 EDT Ashford Hospitality falls -17.0% - Ashford Hospitality is down -17.0%, or -$1.03 to $5.03.
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EXK | Hot Stocks10:00 EDT Endeavour Silver rises 12.7% - Endeavour Silver is up 12.7%, or 42c to $3.72.
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GES | Hot Stocks10:00 EDT Guess rises 13.2% - Guess is up 13.2%, or $1.22 to $10.46.
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OMI | Hot Stocks10:00 EDT Owens & Minor rises 39.7% - Owens & Minor is up 39.7%, or $3.15 to $11.09.
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SFET | Hot Stocks09:50 EDT Safe-T, Softprom announce distribution agreement - Safe-T Group and Softprom Distribution GmbH, a leading Value Added IT distributor in the Commonwealth of Independent States and European countries, announced the signing of a distribution agreement, according to which Softprom will promote Safe-T's Zero-Trust Network Access solutions in Central and Eastern Europe, CIS countries, Georgia and Ukraine.
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JDST | Hot Stocks09:47 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares falls -6.9% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is down -6.9%, or -87c to $11.77.
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MSC | Hot Stocks09:47 EDT Studio City falls -7.0% - Studio City is down -7.0%, or -$1.04 to $13.87.
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EBS | Hot Stocks09:47 EDT Emergent BioSolutions falls -8.4% - Emergent BioSolutions is down -8.4%, or -$8.59 to $93.47.
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AGQ | Hot Stocks09:47 EDT ProShares Ultra Silver rises 10.0% - ProShares Ultra Silver is up 10.0%, or $3.51 to $38.48.
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EXK | Hot Stocks09:47 EDT Endeavour Silver rises 13.3% - Endeavour Silver is up 13.3%, or 44c to $3.74.
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OMI | Hot Stocks09:47 EDT Owens & Minor rises 29.1% - Owens & Minor is up 29.1%, or $2.31 to $10.25.
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CG | Hot Stocks09:46 EDT Carlyle co-CEO Glenn Youngkin to retire, Kewsong Lee named sole CEO - The Carlyle Group announced that Glenn Youngkin has decided to step down as co-CEO of The Carlyle Group and the Board of Directors has appointed Kewsong Lee, who has served as co-CEO with Glenn, as the firm's CEO. Youngkin will step down as co-CEO and retire from the firm on September 30, 2020 and will work with the rest of management to transition his responsibilities over his remaining tenure. Youngkin said, "It has been the professional journey of a lifetime and my honor to be part of building Carlyle into the global institution it is today, and to serve the last few years as co-CEO alongside an enormously talented partner like Kew. The Carlyle team has built great momentum, has a strong culture of collaboration, and has created long-term value for companies, communities and shareholders. I also want to thank Carlyle's visionary founders for their guidance and trust. I remain humbled to have been able to lead Carlyle with Kew." Lee has served as co-CEO since 2018.
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JAN | Hot Stocks09:27 EDT JanOne receives confirmation from FDA for IND covering nitrite tablets - JanOnehas received confirmation from the FDA for the investigational new drug, or IND, sponsorship transfer covering its sodium nitrite tablets previously held by Soin Neuroscience. The sodium nitrite sustained release tablet is the clinical candidate TV1001SR, formulated to treat PAD and other vascular conditions. Manufacturing of TV1001SR is underway and phase 2b trials for PAD are expected to begin later this year. There is no current treatment for PAD and over 8.5 million Americans suffer from the disease.
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PM | Hot Stocks09:23 EDT Philip Morris sees earnings growth skewed toward Q4
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TYL | Hot Stocks09:22 EDT Tyler Technologies signs agreement for school transportation solutions with SCDE - Tyler Technologies announced that it has signed a five-year agreement with the South Carolina Department of Education, or SCDE, Administration for Tyler's Traversa transportation management solution including Tyler Telematic GPS units and Tyler Drive tablets for school bus drivers. Tyler Technologies said in a release, "This agreement marks the first ever statewide agreement for both routing software and telematics for K-12 transportation and is also Tyler's largest contract for its transportation solutions group. The state of South Carolina is the only state that owns all its school buses rather than the districts owning their buses. The responsibility of owning such a large fleet requires the state to find ways to efficiently deploy its transportation assets. Tyler's software-as-a-service solutions will allow the state to cost-effectively deploy critical routing technology to all districts in South Carolina. Tyler's solutions will also facilitate the gathering and analysis of important data like ridership, vehicle engine performance, and driver behavior. SCDE selected Tyler after surveying the available solutions in the market during a competitive procurement process."
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CDW | Hot Stocks09:20 EDT CDW appoints Sanjay Sood as Chief Technology Officer - CDW announced the appointment of Sanjay Sood into the newly created role of chief technology officer, following the planned retirement of Jon Stevens, senior vice president, operations and chief information officer, after 19 years with CDW. Sood was most recently vice president of highly automated driving at HERE Technologies.
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APVO | Hot Stocks09:19 EDT Aptevo engages Piper Sandler to sell RUXIENCE, IXINITY royalty streams - Aptevo Therapeutics said in a release, it "has engaged Piper Sandler to sell its RUXIENCE and IXINITY royalty streams and milestone payments."
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DFLYF | Hot Stocks09:19 EDT SWUAT Technologies selects Draganfly's Vital Intelligence techologies - Draganfly announced that Serving the World Using Aerospace Technologies has selected to incorporate Draganfly's Vital Intelligence technologies within their own platform to assist first responders in handling pandemic situations. SWUAT, based out of Zambia Africa, is a leading provider of next generation solutions for Unmanned Aerial Systems (UAS). SWUAT works with multiple agencies in Zambia that utilizes their drones and is looking to incorporate analytics provided by Draganfly's Vital Intelligence technology to offer health measurement solutions.
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KO | Hot Stocks09:19 EDT Coca-Cola says worst period 'behind us in most of the world' - Says second waves of COVID-19 pandemic don't look as bad as the first wave.
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PM | Hot Stocks09:17 EDT Philip Morris doesn't expect widespread cigarette downtrading
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RFL | Hot Stocks09:17 EDT Rafael crosses midpoint of enrollment to first interim analysis in CPI-613 trial - Rafael Pharmaceuticals announced that it has crossed the midpoint to its first interim analysis in enrollment for its pivotal Phase 3 clinical trial of CPI-613 for relapsed or refractory acute myeloid leukemia. The multicenter, open-label, randomized pivotal trial is evaluating the efficacy and safety of its lead compound devimistat in combination with high dose cytarabine and mitoxantrone in older patients. The Food and Drug Administration worked closely with Rafael to make changes to the protocol to help address enrollment challenges; the trial protocol modifications significantly increased patient enrollment. The global study is currently active across more than 60 sites in countries including the United States, Canada, Europe, India, South Korea and Australia. While the COVID-19 pandemic has disrupted many clinical trials, Rafael has expanded safety protocols to continue enrollment, maintaining the safety and wellbeing of patients as the company's foremost priority. Jorge Cortes, M.D., Director of the Georgia Cancer Center at Augusta University, is the principal investigator on this Phase 3 clinical trial. Dr. Cortes developed the rationale and design of the trial and is supervising the conduct of the ongoing clinical investigation.
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NLSN | Hot Stocks09:16 EDT Nielsen announces changes to its digital measurement methodology - Nielsen announced changes to its digital measurement methodology, ushering in a new era of privacy-centric measurement that provides comparable, cross-platform metrics for both marketers and publishers. Nielsen is reimagining its offerings to ensure it has flexibility to adapt to ongoing changes in the technology and privacy landscape. The digital ecosystem is in a state of flux with evolving restrictions on consumer consent and decreasing reliance on cookies. Under these conditions, digital companies are implementing new privacy safeguards that are requiring workflow redesigns and different approaches to coordination with data partners.
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HD | Hot Stocks09:15 EDT Home Depot accelerates investments in outdoor power categories - The Home Depot announced that it is accelerating its investments in resets of its outdoor power categories, as it also refines and simplifies its primary brands across the category. The enhanced assortment will include The Home Depot's top brands of innovative cordless outdoor power - Ryobi, Makita, DeWalt, and Milwaukee - as well as the most trusted brands of gas-powered products in the industry - Toro, Echo, John Deere, Cub Cadet, Honda, and Troy-Bilt. As part of this merchandise reset, the company has made the decision to discontinue the Ego line of outdoor power equipment. The company expects to complete the resets in all remaining stores through spring of 2021.
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PM | Hot Stocks09:14 EDT Philip Morris: Pandemic presenting uncertain environment
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SHIP | Hot Stocks09:14 EDT Seanergy Marine announces closing of refinancing resulting in $5.6M gain - Seanergy Maritime announced the closing of the previously announced refinancing of a credit facility secured by two of its Capesize vessels, M/V Geniuship and M/V Gloriuship, with a new credit facility secured by the same vessels. The outstanding balance of the Previous Facility was $29.1M, was retired for an amount of $23.5M following a reduction accepted by the previous lender. The settlement resulted into a material $5.6M gain and equity accretion for the Company that will be recorded in its financial results for the third quarter and nine months ending September 30, 2020. The settlement amount was funded by a combination of proceeds from the New Facility and cash on hand. The New Facility has an initial balance of $22.5M, a five-year term and reduced quarterly repayments that will positively impact the break-even rates of the underlying vessels, as well as less restrictive financial covenants and value maintenance provisions enhancing the Company's financial flexibility. This refinancing and the settlement achieved with the outgoing lender will result in a $6.6M aggregate reduction in the Company's debt. Seanergy is in advanced discussions with other lenders of the Company with maturities falling due in 2020 with the objective of extending the maturities and improving the financing terms of these facilities.
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RST | Hot Stocks09:12 EDT Rosetta Stone holder Voss Capital sends letter to board - Voss Capital, a significant shareholder of Rosetta Stone issued a public letter to the Company's board. "Voss Capital has been a shareholder of Rosetta Stone for many years. More recently we have made clear to management and the board that we believe the Company has been meaningfully undervalued in the public markets, and that the best way to maximize value for shareholders is through a sale of the Language and Literacy segments separately, or the entire company. We have appreciated your willingness to engage with us, yet at the same time we have been disappointed by what we perceived as a lack of urgency around pursuing a true strategic review. Given the high valuations of recent comparable transactions, the increasingly prominent role of the education technology sector against the backdrop of the Covid-19 pandemic, and the strong growth in bookings the Lexia business has been experiencing, it is clear to us that now is the time to capitalize on the incredible value of Rosetta Stone. It is also clear that a failure to take advantage of these favorable dynamics could represent a missed opportunity for your shareholders. Therefore, we were encouraged to read the July 17th Bloomberg story reporting that you have retained financial advisors to explore a sale of part or all of the Company. The report noted that you were "gauging interest" from both financial and strategic buyers. We are confident there are several suitors who would be interested in a transaction. Hopefully, as part of this strategic review process, each of them is getting a chance to convey to you and your advisors what the dollar value of that interest might be. We know that several other shareholders have previously expressed to you that a transaction is the best path forward for the Company. The stock closing 25% higher on the day of the publication of the strategic review news demonstrates that this viewpoint is widely held among the investment community. With all of this said, last week's story also reported that you may "choose to remain independent." While we know that to some degree maintaining this optionality is a box companies must check when exploring alternatives, we hope that is all it is. Given Rosetta Stone's track record over the past few years, we feel it would be highly disappointing - and could destroy any remaining confidence shareholders have in the Board - if the decision were ultimately made to maintain the status quo. This would be particularly perplexing given that we believe the market agrees with us that there are numerous buyers out there willing to pay fair value in a transaction. We are currently operating under the belief that you have every intention of acting in the best interests of all shareholders and conducting this process with integrity and urgency. However, should we be proven wrong, either by you failing to explore all viable and available transactions, or by agreeing to one that drastically discounts the value of Rosetta Stone, we - and, we believe, our fellow shareholders - will not hesitate to hold you accountable."
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BUD KDP | Hot Stocks09:11 EDT Drinkworks signs licensing agreement for Elijah Craig Bourbon, Deep Eddy Vodka - Drinkworks and Heaven Hill Brands announced a partnership to develop cocktails for use in the Drinkworks Home Bar system. Through the new licensing agreement, consumers will be able to enjoy signature Elijah Craig Bourbon and Deep Eddy Vodka cocktails from Drinkworks Pods, with the initial selection expected to hit the market in late 2020. The new co-branded cocktails will be produced by Drinkworks and be available on drinkworks.com and at select retailers across the country. The initial menu of signature cocktails - featuring an Elijah Craig Old Fashioned and a Deep Eddy Texas Mule - will join the Drinkworks portfolio of over two dozen beverages. This partnership marks the second premium spirits company to be included in Drinkworks' open system, following the announcement of a similar partnership last fall.
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TM | Hot Stocks09:09 EDT Toyota confirms COVID-19 infection at Aichi Prefecture work site - Toyota has confirmed that a male full-time employee in his 20's engaged in engineer work at its Toyota City headquarters location, based in Aichi Prefecture, Japan has been found to be infected with COVID-19. Toyota said in a statement: "The employee in question has not come in to work since reporting having a fever on Wednesday July 15. After seeing a doctor on July 16, he took the COVID-19 virus test on July 20, which returned positive today. Currently, he is staying home to recover. Toyota have immediately and thoroughly disinfected the affected work sites on July 17 and resumed operation shortly afterwards. Also, under the guidance of local health authorities, we are currently identifying individuals which had close contact with him... We are treating this as an issue that affects all locations and will further enhance our communication and health checks with staff at all locations." Reference Link
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UNBLF | Hot Stocks09:08 EDT URW enhances digital out-of-home media network capabilities - For the first time in the DOOH industry, brands will be guaranteed real-time impressions and complete campaign transparency when advertising on The Westfield Network, a digital out-of-home media network located in Westfield shopping centers in the U.S., Unibail-Rodamco-Westfield announced. Currently available across 471 digital media screens in 18 digitally powered centers, the network's enhanced capabilities will provide even more accuracy and clarity into campaign reporting.
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NDLS | Hot Stocks09:07 EDT Noodles & Company to require face mask covering to team members and guests - Noodles & Company announced that all team members and guests will be required to wear face coverings inside of their restaurants unless seated. In a continued effort to support the already enhanced safety procedures, this requirement is effective at company-owned locations as of Wednesday, July 22. In order to maintain this safety and reliability, Noodles implemented enhanced safety practices at all locations in early March. With the recent guidance from the CDC that face coverings are a critical tool in the fight against the spread of COVID-19, this policy is just the next step in Noodles' ongoing effort to keep guests and team members as safe as possible. Guests will be allowed to remove face coverings when seated in restaurants with open dining rooms or patios, where the company has implemented social distancing between tables and increased sanitizing after every guest visit.
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PM | Hot Stocks09:07 EDT Philip Morris estimates 15.4M IQOS users at end of Q2 - Comments taken from Q2 earnings conference call.
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SJT | Hot Stocks09:06 EDT San Juan Basin Royalty Trust declares no cash distribution for July - BBVA USA, as Trustee of the San Juan Basin Royalty Trust, reported that it will not declare a monthly cash distribution to the holders of its Units of beneficial interest due to prior excess production costs from the April 2020 production month. Excess production costs occur when production costs and capital expenditures exceed the gross proceeds for a certain period.
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BWAY | Hot Stocks09:04 EDT University TMS offers Brainsway's Deep TMS therapy - University TMS is now offering BrainsWay's Deep Transcranial Magnetic Stimulation for major depressive disorder (MDD) and obsessive-compulsive disorder. BrainsWay's Deep TMS administers magnetic waves through a cushioned helmet to target deep structures of the brain that impact a patients' depression and OCD symptoms. The treatment is both noninvasive and medication-free, and patients can return to normal activities, such as driving, immediately following the session. Because Deep TMS penetrates deeper and broader in the brain than traditional TMS, it enables stimulation of the deep brain structures that are involved in mental health illnesses. BrainsWay has been treating depression with Deep TMS for more than 10 years and received FDA clearance to target OCD in 2018.
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KO | Hot Stocks09:03 EDT Coca-Cola: M&A, share repurchases unlikely to play prominent role in near future
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BYD | Hot Stocks09:03 EDT Boyd Gaming launchs its Stardust Social Casino app - Boyd Gaming announced the relaunch of its iconic Stardust brand with the debut of the all-new Stardust Social Casino app. The Stardust Social Casino mobile app features a regularly updated selection of popular slot titles from Boyd Gaming casino floors across the country. The game is free to play and is now available for download on iOS and Android mobile platforms.
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SBUX | Hot Stocks09:02 EDT Starbucks to update loyalty program and app to add more ways to pay - Starbucks announced plans to update its Starbucks Rewards loyalty program by giving members more payment options and ways to earn Stars through the Starbucks app. "Beginning this fall in company-operated stores in the U.S. and Canada, Starbucks Rewards members will also be able to scan their app and then pay with cash, credit/debit cards, or select mobile wallets and earn Stars toward free items. Members will also be able to save these payment methods directly in the Starbucks app to earn stars when paying. These enhancements will be in addition to the current option of earnings Stars by paying with a Starbucks Card in stores and within the app," the company stated in a post on its corporate blog. Reference Link
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KO | Hot Stocks09:02 EDT Coca-Cola says 'pandemic not behind us, good reason to be cautious' - Says not providing FY20 guidance due to uncertainty from COVID-19 pandemic.
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WFC BK | Hot Stocks09:02 EDT Wells Fargo appoints Mike Santomassimo as CFO - Wells Fargo (WFC) announced that Mike Santomassimo will join the company in fall 2020 as CFO. Wells Fargo said in a release, "Santomassimo will report to CEO Charlie Scharf and serve on the company's Operating Committee. He will succeed John Shrewsberry, who has announced plans to retire. Shrewsberry will continue in his role as CFO until Santomassimo joins the company and will assist with the transition thereafter. Santomassimo joins Wells Fargo from BNY Mellon (BK), where he was CFO since 2018."
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SEEL | Hot Stocks09:02 EDT Seelos Therapeutics receives positive opinion from EMA for SLS-005 - Seelos Therapeutics announced it has received a positive opinion on European Orphan Drug Designation for SLS-005 in Sanfilippo syndrome from the European Medicines Agency, or EMA, Committee for Orphan Medicinal Products, or COMP. The positive opinion issued by COMP will be sent to the European Commission, which is expected to grant the orphan designation within 30 days. Under orphan designation in the European Union, Seelos stands to benefit from several incentives such as protocol assistance, reduced regulatory fees and market exclusivity. European guidelines for Orphan Drug Designation are for diseases affecting not more than five in 10,000 people in the EU.
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MSFT | Hot Stocks08:56 EDT LinkedIn to cut 6% of staff with companies hiring less workers - LinkedIn CEO Ryan Roslansky sent a note to employees which stated in part, "LinkedIn is not immune to the effects of the global pandemic. Our Talent Solutions business continues to be impacted as fewer companies, including ours, need to hire at the same volume they did previously. Normally, we would have rolled out our annual plan at the end of June. But as I've shared at the Company All Hands, this year we've been taking our time to get the FY21 plan right given the changing dynamics around us. And in advance of sharing the entire plan, I want to focus today specifically on the most challenging decision we've made to move forward with our strategy...After weeks of discussion and deliberation, the executive team and I have made the extremely difficult decision to reduce approximately 960 roles, or about 6 percent of our employee base, across our Global Sales and Talent Acquisition organizations. I'm sharing this news today so that everyone has the complete picture of these changes and why we are making them, and I want you to know these are the only layoffs we are planning." LinkedIn is a division of Microsoft. Reference Link
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KO | Hot Stocks08:55 EDT Coca-Cola says exited Q2 with 'promising signs' the worst is over
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SMIT | Hot Stocks08:52 EDT Schmitt Industries announces results of cash tender offer - Schmitt Industries announced the final results of its previously announced cash tender offer to purchase up to $2.5M of Schmitt's common stock at a price per share not less than $3.00 and not greater than $3.25. The Offer expired on Monday, July 20. Based on the final count by Broadridge Corporate Issuer Solutions, the depositary for the Offer, the Company has accepted for purchase 72,159 shares of Schmitt's common stock, for an aggregate cost of approximately $234,516.75, excluding fees and expenses relating to the Offer. Since the Offer was not fully subscribed, no proration was required and all shares validly tendered and not withdrawn were accepted for purchase. The depositary will promptly issue payment for the shares purchased. The shares purchased represent approximately 1.9% of the Company's common stock issued and outstanding as of July 20. Following consummation of the Offer, the Company has 3,705,697 shares of common stock outstanding.
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SBGI MS | Hot Stocks08:49 EDT Sinclair Broadcast appoints Scott Shapiro as Chhief Strategy Officer - Sinclair Broadcast Group (SBGI) announced that Scott Shapiro has assumed the newly-created role of Chief Strategy Officer/Sports in addition to his current role of Chief Development Officer. In his new role, Shapiro will be responsible for managing and executing large strategic initiatives, formulating and vetting organic opportunities, and working closely with RSN, Stadium, Broadcast and Tennis Channel leadership to create value across the entirety of Sinclair's sports platform. Shapiro has served as Senior Vice President/Chief Development Officer since the beginning of 2020. He joined Sinclair in 2011 and after fulfilling various roles in finance, launched the Corporate Development team in 2015 where he was promoted to Vice President in 2016 and to Senior Vice President in 2019. Previously he worked in Institutional Equity Research at Morgan Stanley (MS) and Prudential Equity Group.
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KO | Hot Stocks08:49 EDT Coca-Cola says global economic recovery could take 2-3 years - Says shifting towards fewer but bigger brands, and exiting zombie brands. Comments taken from Q2 earnings conference call.
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ARCT | Hot Stocks08:47 EDT Arcturus, Duke-NUS receive approval to procceed with LUNAR-COV19 trial - Arcturus Therapeutics and Duke-NUS Medical School announced that the Clinical Trial Application for COVID-19 vaccine candidate LUNAR-COV19 has been approved to proceed by the Singapore Health Sciences Authority. Arcturus and Duke-NUS partnered to develop a coronavirus vaccine using Arcturus' STARR technology and a unique platform developed at Duke-NUS allowing rapid screening of vaccines for potential effectiveness and safety. Arcturus & Duke-NUS will initiate human dosing of LUNAR-COV19 as soon as possible. The healthy volunteer study will evaluate several dose levels of LUNAR-COV19 in up to 108 adults, including older adults. Follow-up will be conducted to evaluate safety, tolerability and the extent and duration of the humoral and cellular immune response. The STARR Technology platform employed in LUNAR-COV19 combines self-replicating mRNA with LUNAR, a proprietary nanoparticle delivery system optimized for mRNA molecules. The efficiency and self-replicating nature of the approach were designed to enable very low doses, and a potential single vaccine administration. Prior animal data has demonstrated robust humoral and cellular immunity elicited at doses as low as 0.2 microgram of LUNAR-COV19. Additionally, Arcturus demonstrated 100% seroconversion for anti-SARS-CoV-2 neutralizing antibodies with a very low single dose. New preclinical data demonstrate that neutralizing antibody levels in response to a single administration of LUNAR-COV19 continue to increase over 50 days. The increasing antibody levels are attributed to the self-replicating mRNA of LUNAR-COV19. These results were obtained using a Luminex bead assay. A 1/2000 serum dilution was assayed for neutralizing IgG antibodies in the mouse serum every 10 days for 60 days post vaccination.
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ABBV | Hot Stocks08:47 EDT AbbVie: RINVOQ met primary, secondary endpoints in second Phase 3 study - AbbVie announced upadacitinib (15 mg and 30 mg, once daily) monotherapy met both primary and all secondary endpoints in Measure Up 2, the second Phase 3 study in individuals with moderate to severe atopic dermatitis. The co-primary endpoints were at least a 75% improvement in the Eczema Area Severity Index from baseline and a validated Investigator's Global Assessment for Atopic Dermatitis score of 0/1 (clear or almost clear) at week 16.1 The Measure Up 2 study evaluates the efficacy and safety of both doses of upadacitinib monotherapy versus placebo in adolescents and adults with moderate to severe atopic dermatitis who are candidates for systemic therapy. Significantly more patients receiving either dose of upadacitinib monotherapy showed improvement in skin clearance and reduction in itch compared to placebo at week 16.1 In the study, 60/73% of patients receiving upadacitinib 15/30 mg achieved EASI 75, respectively, versus 13 percent in the placebo group. Of patients treated with upadacitinib 15/30 mg, 39/52% achieved vIGA-AD 0/1, respectively, versus 5% of patients receiving placebo.
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HII | Hot Stocks08:45 EDT Huntington Ingalls forms Defense and Federal Solutions business group - Huntington Ingalls Industries' Technical Solutions division announced changes to the organization and alignment of its business groups. Following a series of strategic acquisitions and major contract awards, coupled with a review of existing capabilities and the division's organizational structure, Technical Solutions reconstituted its internal organization in order to better serve existing and future customers while achieving support function efficiencies. The previous Fleet Support group and Mission Driven Innovative Solutions group were merged to form the Defense and Federal Solutions group. Garry Schwartz, former president of MDIS, will lead Defense and Federal Solutions. Schwartz retired from the Marine Corps as a senior officer in 2004. The three Technical Solutions business groups are now: Defense and Federal Solutions, focused on solving tough national security challenges for the Department of Defense, the intelligence community, federal civilian agencies, and commercial customers around the globe. The group's expertise includes maritime fleet sustainment; intelligence, surveillance and reconnaissance; cyber operations; secure enterprise information technology engineering and operations; advanced modeling, simulation and training; and logistics management. Unmanned Systems, creating advanced unmanned maritime solutions for defense, marine research and commercial applications. Serving customers in more than 30 countries, Unmanned Systems provides design, autonomy, manufacturing, testing, operations and sustainment of unmanned systems, including unmanned underwater vehicles and unmanned surface vessels. Nuclear and Environmental Services, supporting the national security mission of the Department of Energy through the management and operation of national nuclear laboratories, as well as environmental remediation at legacy cleanup sites. Through decades of experience in safe nuclear operations, the group is also postured to serve the growing commercial nuclear power plant decommissioning market.
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GHSI... | Hot Stocks08:44 EDT Guardion Health Sciences appoints Andrew Schmidt as VP, CFO - Guardion Health Sciences announced that it has appointed Andrew Schmidt as VP and CFO of the Company. Mr. Schmidt has significant expertise and experience with micro- and small-cap public companies, most recently with Iteris (ITI) and Smith Micro Software (SMSI). As part of the new management team, Mr. Schmidt will be a key participant in the Company's efforts to develop marketing and commercialization strategies for implementation over the next several months, and is expected to provide financial oversight and discipline to the Company's efforts to ramp up ROI-driven sales.
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LMT | Hot Stocks08:43 EDT Lockheed Martin raises FY20 Aeronautics sales view to $25.3B-$25.8B - Prior view was $24.55B-$25.3B. Now sees FY RMS sales $15.6B-$16B from $15.5B-$15.9B, Space sales $11.65B-$11.95B from $11.25B-$11.55B. Lockheed still sees MFC sales $10.95B-11.25B. Now sees Aeronautics segment operating profit $2.75B-$2.77B, Space segment operating profit $1.145B-$1.175B, RMS segment operating profit $1.5B-$1.545B, MFC segment operating profit $1.525B-$1.555B. Previously forecast Aeronautics segment operating profit $2.67B-$2.72B, Space segment operating profit $1.13B-$1.165B, RMS segment operating profit $1.47B-$1.51B, MFC segment operating profit $1.515B-$1.555B.
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ENZ | Hot Stocks08:41 EDT Enzo Biochem to provide access to COVID-19 testing at NY pharmacies - Enzo Biochem and Community Pharmacy Enhanced Services Network announced they are partnering to provide COVID-19 testing at 52 of the network's 155 pharmacies across New York State. This initial pilot was made possible in strong collaboration with Pharmacists' Society of the State of New York. Through this program, the Enzo Center of Excellence will provide the high-level products and services to support effective testing in locations across the State. Relying on over 40 years of research and manufacturing expertise, Enzo's emergency use authorized AMPIPROBE SARS-CoV-2 swab molecular test is manufactured at its Farmingdale, New York GMP facility with state of the art technology for use in Enzo's own CLIA-certified clinical laboratory and distribution to other authorized clinical laboratories. Through this program, NY residents will have access to testing at participating independent pharmacies beginning immediately. Enzo provides the full range of services to support rapid and accurate testing, including reagent manufacturing capabilities, proprietary diagnostic instruments, and clinical laboratory services. Results from the swab test should be provided within two to three days from sample collection. Patients will also have access to guidance and information from the leading independent pharmacies participating in this program. Enzo Clinical Labs is a New York State Department of Health-regulated, full-service clinical reference laboratory serving the needs of patients and other clinical laboratories in the region.
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LMT | Hot Stocks08:40 EDT Lockheed Martin boosts FY20 segment operating profit view to $6.9B-$7.05B - Previous view was $6.8B-$6.95B. Comments taken from Q2 earnings conference call presentation slides.
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ATXI | Hot Stocks08:40 EDT Avenue Therapeutics announces publication of Phase 3 bunionectomy study results - Avenue Therapeutics announced that the results from its Phase 3 study of IV tramadol in patients undergoing bunionectomy have been published in the peer-reviewed journal, Pain and Therapy. The objective of this Phase 3 study was to compare the analgesic benefit and tolerability of two doses of IV tramadol to placebo in adult patients undergoing bunionectomy, an orthopedic surgical model. Eligible patients were randomized to IV tramadol 50 mg, 25 mg or placebo. The primary endpoint was the summary of pain intensity differences over 48 hours. Key secondary endpoints included SPID over 24 hours, total consumption of rescue analgesia, and patient global assessment of efficacy. Safety assessments included treatment emergent adverse events, clinical laboratory tests, vital signs, and electrocardiograms. Assessment of the dose-response was an important objective of the study. The study established a clear dose response, with IV tramadol 50 mg demonstrating a statistically significant benefit over placebo for primary and all key secondary efficacy endpoints, whereas IV tramadol 25 mg demonstrated intermediate results between the 50 mg and placebo arms. IV tramadol 50 mg was well-tolerated. The most common TEAEs were nausea and vomiting, and there were no meaningful differences among the treatments for vital signs, ECG, and laboratory assessments. The largest proportion of patients completed IV tramadol 50 mg compared to IV tramadol 25 mg and placebo. The study concluded that IV tramadol 50 mg was effective and well-tolerated as a treatment for postoperative pain following bunionectomy surgery, while IV tramadol 25 mg, although well-tolerated, was judged to be an ineffective dose for the treatment of pain in this setting. Based on the results of the study, IV tramadol 50 mg was further developed in Avenue's Phase 3 program.
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AIMT | Hot Stocks08:38 EDT Aimmune pivotal Phase 3 EU ARTEMIS trial of PALFORZIA published in The Lancet - Aimmune Therapeutics announced that complete results from its pivotal phase 3 European ARTEMIS trial of PALFORZIA] have been published in The Lancet Child & Adolescent Health. Aimmune Therapeutics said in a release, "ARTEMIS met all primary, secondary and safety endpoints, and demonstrated that participants treated with PALFORZIA (known as AR101 outside of the United States) experienced a high degree of desensitization to peanut with an increasingly well-understood, anticipated, and manageable safety profile over nine months. Additionally, improvements in quality-of-life measures in PALFORZIA-treated participants were reported, most notably in how treatment affected the perceived likelihood of future accidental exposure and risk of severe reactions. ARTEMIS is the third of three randomized, double-blind, placebo-controlled phase 3 trials within the PALFORZIA development program. The three trials comprise the largest clinical dataset in children and teens with peanut allergy and are the only phase 3 clinical trials to meet their primary endpoints."
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KO | Hot Stocks08:38 EDT Coca-Cola says global unit case volume trends improved sequentially - Since the company's last earnings update in April, global unit case volume trends have improved sequentially, from a decline of approximately 25% in April to a decline of approximately 10% in June. Unit case volume for July month-to-date was down mid single digits globally. Performance has been driven by improving trends in away-from-home channels, along with sustained, elevated sales in at-home channels. The improvement in away-from-home trends during the quarter closely correlated with the easing of lockdowns, and the company expects this correlation to continue in the second half of 2020. While the company believes the second quarter will be the most severely impacted quarter of the year, given the ongoing uncertainty surrounding the coronavirus pandemic and levels of lockdown, the ultimate impact on full year 2020 results is unknown. The company's balance sheet remains strong, and the company is confident in its liquidity position as it continues to navigate through the crisis. Despite the high degree of uncertainty, the company is committed to emerging stronger by gaining share and consumers, maintaining strong system economics, strengthening its reputation with stakeholders and positioning the organization to win in the new reality. The company is accelerating its strategy to accomplish these goals. This includes focusing investments against a defined growth portfolio by prioritizing brands best positioned for consumer reach and share advantage. The company will also streamline the innovation pipeline against initiatives that are scalable regionally or globally as well as maintain a disciplined approach to local experimentation in order to further strengthen the company's leader, challenger and explorer framework. The portfolio will be supported by a refreshed marketing approach, with a step-change in marketing investment effectiveness and efficiency. The company will also lead the Coca-Cola system in driving system-wide efficiencies to support these investments, and will invest in new capabilities to capitalize on emerging, lasting shifts in consumer behaviors.
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HIL | Hot Stocks08:38 EDT Hill International to develop research campus for Indian Oil Corporation Limited - Hill International announced it has been selected by Indian Oil Corporation Limited to provide project management consultancy services for the development of the corporation's new $275M, approximately 60 acre research campus, the Indian Oil Technology Development and Deployment Center. The IOCL's current research and development facility, which opened in 1972, lacks space for further expansion. Given expansive trends in the company's research interests, more room is necessary to engage with the myriad of scientific disciplines critical to the company's future business plans. The IOCL envisions a campus that, in addition to ambitiously serving research and development, surpasses global standards of occupational health and safety as well as environmental sustainability. The company wants the world's largest and most sustainable net-zero campus. The new campus will contain a center for alternative and renewable energy; a nanotechnology center; industrial laboratories for the study of carbon nanotubes/batteries, biotechnology, pipelines, petrochemicals, catalysts, and applied metallurgy; refinery infrastructure; as well as commercialization and demonstration units. In addition, the campus will feature recreational, administrative, dining, and utility facilities. The total build-up area will be approximately 194,554 SM.
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DTSS | Hot Stocks08:36 EDT Datasea selected by Harbin Municipal Government to conduct pilot projects - Datasea announced that its subsidiary, Heilongjiang Xunrui Technology was selected by Harbin Municipal Government of Heilongjiang Province to pilot its Safe Campus Management System at two separate schools. As part of the 2019 S&T Achievement Transformation Demonstration and Promotion Plan, Xunrui received approximately $113,000 in subsidies from Harbin Municipal Government of Heilongjiang Province for the project. Xunrui, the developer and marketer of Datasea's smart security system products, was chosen as the finalist amongst its competitors. This system includes core functions of intelligent video surveillance, dynamic video recognition, identity recognition management, and campus-intelligent management. Additionally, Datasea's Safe Campus Management System has recently been upgraded to include features that provide schools with infrared temperature measurement, related hardware and software solutions for real-time body temperature monitoring, and health status intended to detect outbreak symptoms in campus populations. Datasea will install the two pilot projects for Harbin's New District No. 1 School and No. 73 Middle School and will also look to have its sales team and agency channels develop new customers in Harbin, a city with over 10 million citizens and 2,000 K-12 schools.
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GILD | Hot Stocks08:35 EDT Gilead secures exclusive option to acquire Tizona Therapeutics for $300M - Gilead Sciences announced that it will invest $300 million to acquire a 49.9% equity interest in Tizona Therapeutics, Inc., a privately held company developing first-in-class cancer immunotherapies. Gilead said in a release, "Gilead will also receive an exclusive option to acquire the remainder of Tizona for up to an additional $1.25 billion, including an option exercise fee and potential future milestone payments. Gilead can exercise its option to acquire the remainder of Tizona following the readout of a Phase 1b study of Tizona's investigational antibody, TTX-080, or earlier if Gilead decides to do so. TTX-080, discovered by Tizona, is a potential first-in-class medicine that targets HLA-G, a novel and emerging immune checkpoint expressed across multiple tumor types. Under the terms of the agreement, Tizona equity holders will receive $300 million upon closing. Gilead will obtain a 49.9 percent equity stake and an exclusive option to purchase the remaining equity exercisable following the completion of Phase 1b studies for TTX-080, or earlier if Gilead chooses. Tizona equity holders will be eligible to receive up to $1.25 billion in an option exercise fee and potential future milestone payments. Gilead will also provide funding to support Tizona's ongoing research and development to advance its novel pipeline. The transaction is expected to close in the third quarter of this year and is subject to antitrust clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Gilead will have the right to appoint two individuals to Tizona's Board of Directors upon closing of the transaction. Tizona will spin off TTX-030, the company's investigational, first-in-class anti-CD39 antibody partnered with AbbVie, into a separate entity prior to closing of this transaction. TTX-030 is not subject to this agreement. TTX-080 is investigational and not approved anywhere globally. Its efficacy and safety have not been established. Cowen is acting as financial advisor and Ropes & Gray is acting as legal counsel to Gilead. Latham & Watkins is acting as legal counsel and Squire Patton Boggs is acting as IP counsel to Tizona."
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BK... | Hot Stocks08:33 EDT BNY Mellon appoints Emily Portney as CFO - The Bank of New York Mellon (BNY) announced that Emily Portney has been appointed CFO, effective immediately, succeeding Mike Santomassimo, who has informed the company of his decision to leave. Portney will report to Todd Gibbons, CEO of BNY Mellon, and will join BNY Mellon's Executive Committee. Prior to joining BNY Mellon, Portney served as CFO Barclays (BCS) International, where she helped to establish the non-ring-fenced bank, and led a global organization spanning the Corporate and Investment Bank, the Private Bank, and the Cards and Payments businesses. She spent 22 years at JPMorgan (JPM), where she was the Global Head of Clearing and Collateral Management, among other roles. She started with JPMorgan in 1993, and performed various roles over the course of her career, including the CFO of Equities and Prime Services.
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WEN | Hot Stocks08:32 EDT Wendy's launches 'Wendy's Rewards' loyalty program across the U.S. - Wendy's announced the national launch of 'Wendy's Rewards' loyalty program, allowing customers the opportunity to earn points to unlock rewards for their favorite menu items. To kick off Wendy's Rewards, fans can get double points on their first order for a limited time.
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AFYA | Hot Stocks08:30 EDT Afya Limited announces acquisition of PEBMED for R132.9M - Afya Limited announced the acquisition of 100% of the total share capital of PEBMED, through its wholly-owned subsidiary Afya Participacoes S.A. PEBMED offers content and clinical decision applications aiming a better performance of the healthcare professional, through its products: WhiteBook: a mobile and web application software that helps doctors and medical students to make faster and more accurate clinical decisions on a daily practice. It provides medical calculators, images and updated content, including prescriptions, conducts, clinical scores, procedures, lab exams, and others, for more than 28 specialties. WhiteBook's revenue represents more than 95% of PEBMED's total revenue and currently has 165,000 monthly active users. Nursebook, a mobile application software that helps nurses to make accurate clinical decisions. This product also provides medical calculators, procedures and updated content software designed to help nurses all over Brazil. This product was launch on the third quarter of 2019 and currently has 20,000 monthly active users. Portal PEBMED: a website that offers free references, perspectives and updates on medical news and scientific publications. The website has over 4,000,000 visitors per month and 900,000 returning visitors. The acquisition will enable Afya to enter into a new business segment and will contribute to the development and expansion of Afya Digital increasing our monthly active users and bringing active physicians to our platform. The net purchase price was R$132.9M, with the assumption of estimated net debt of R$7.1M, of which: 86.8% was paid in cash, and 13.2% was paid in Afya's stock. The price multiple is equivalent to 4x PEBMED's annual recurring revenue.
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GPK | Hot Stocks08:24 EDT Graphic Packaging up 3.5% after reporting Q2 results - In pre-market trading, shares are up 3.5% to $14.70.
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ARMZF | Hot Stocks08:23 EDT Aura Minerals provides updates on status of the Alamas Gold Project - Aura Minerals provided an update on the status of the Almas Gold Project located in Tocantins, Brazil. The Project is located in the state of Tocantins, Brazil. Almas consists of three deposits and several exploration targets, including Nova Prata/Espinheiro, Jacobina and Morro do Carneiro. Of these, only the three deposits, Paiol, Vira Saia and Cata Funda, have seen significant exploration work. The Almas project was taken over by Aura early in 2018, as result of the merger of the Company with Rio Novo Gold. While studies on the Project had been previously carried out by Rio Novo, Aura's management has since been evaluating several alternatives to de-risk the Project while improving returns, focusing on reducing capex and bringing strong cash flows to the first years of operations. Since Aura took control of Rio Novo, a series of new studies have been developed with the support of Ausenco Engineering Canada Inc and SRK Consultores do Brasil. As result of such studies, the production rate was reduced from 2.0 Mt/year to 1.3 Mt/year and layout was optimized. There was a shift in focus regarding production, allowing the Company to target the first years on higher grades while keeping the critical process equipment, such as the grinding circuit and key infrastructure at 2.0 Mt/year to facilitate capacity increase in case additional reserves and higher grades are found. In addition, in parallel with basic engineering a new campaign of metallurgical and milling tests taking in consideration the latest scenarios of mining plan and production scale, the Company expects to increase accuracy related to the required capex for the project and on the overall economic model and cash flow projections. On April 30, 2020, Ausenco was officially engaged by the Company to complete a new feasibility study considering the scenario described above. Since then, Ausenco has provided an initial and preliminary "desktop study", with preliminary results of the work being performed. The main results disclosed in the Study are summarized below: Beginning of construction: Expected for first quarter 2021; Production / ramp-up phase: Expected for second/ third quarter 2022; Commercial production: Expected for fourth quarter 2022; Years in production: 13; Preliminary production and financial estimates: Annual production: 45,000 oz. to 52,000 oz.; Capex: $61M to $65M; Pre-Tax Payback: 1.1 to 1.4; Pre-Tax Project NPV: $219M to $338M at 5% discount; Pre-Tax IRR: 72% to 115%; All-in Sustained Costs: $696/oz. to $730/oz. Currently the Company and Ausenco are working on tax implications and confirmatory metallurgical studies and milling studies using samples representative of the initial blend from the mine in the revised production scenario, as well as starting the basic engineering work. We expect the Feasibility Study to be completed by November 2020 and construction to start in the first quarter of 2021.
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CMA | Hot Stocks08:21 EDT Comerica up 4.8% after reporting Q2 results - In pre-market trading, shares are up 4.8% to $36.60.
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AYRO | Hot Stocks08:19 EDT AYRO receives initial order for new all-electric mobile food vehicles - AYRO announced it has received $584,000 in orders for its inaugural purpose-built EV hospitality truck solution. The milestone follows the recent partnership announcement with Gallery Carts, a leading provider of food, beverage and retail carts, kiosks and portables. The collaborative AYRO-Gallery engineering partnership was established in part to launch these new "on-the-go" hospitality vehicles.
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GMDA | Hot Stocks08:18 EDT Gamida Cell names Michele Korfin Chief Operating and Chief Commercial Officer - Gamida Cell announced the appointment of Michele Korfin as chief operating and chief commercial officer. Gamida Cell said in a release, "Ms. Korfin brings over 20 years of experience in oncology, focused on business operations and commercialization of novel therapies. In this role, she will have oversight of manufacturing and commercialization as Gamida Cell advances its clinical development candidates: omidubicel, an advanced cell therapy in Phase 3 clinical development as a potentially life-saving treatment option for patients in need of bone marrow transplant, and GDA-201, an investigational, natural killer cell-based cancer immunotherapy in Phase 1 development in patients with non-Hodgkin lymphoma. Prior to joining Gamida Cell, Ms. Korfin served as COO at TYME Technologies."
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HAIN | Hot Stocks08:18 EDT Wessanen, Hain Celestial close agreement for purchase of Danival - Wessanen and Hain Celestial have signed and closed an agreement for the purchase of Danival. Located in the South West of France, Danival is a brand in organic products based on fruits and vegetables sourced from France. It has promoted sustainable local development since its creation 30 years ago. It employs about 120 local employees.
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ARLO | Hot Stocks08:14 EDT Arlo Technologies announces agreement with Securitas Services USA - Arlo Technologies announced an agreement with Securitas Security Services USA, the global leader in protective security services, to integrate Arlo SmartCloud into the Securitas USA monitoring platform. Arlo SmartCloud, the SaaS version of Arlo Smart that is currently deployed as part of Arlo's award-winning security camera solutions, will enable Securitas to bolster its protective guarding services by adding Arlo cameras for centralized remote guarding of its high volume of assets. Securitas' commercial clients can also rely on Arlo SmartCloud AI-enabled security cameras including Arlo Pro 3 or Arlo Go to efficiently provide Remote Guarding services to sites that should have little to no unknown traffic, with advanced push notifications that allow users to quickly know whether people, vehicles, packages or even animals may be trespassing. Securitas intends to use Arlo's SmartCloud capabilities to deploy its new Remote Guarding Go, or RGGo, service.
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PKI | Hot Stocks08:14 EDT PerkinElmer releases new DBS based tests for COVID-19 - PerkinElmer announced the launch of a dry blood spot, or DBS, based test for SARS-CoV-2 IgG using its GSP/DELFIA platform, enabling processing of up to 5,000 samples per day. PerkinElmer said in a release, "The finger-prick sample collection device allows for both decentralized sample collection and high-throughput testing. The product is being marketed as a CE-IVD test, and the Company plans to apply for Emergency Use Authorization, or EUA, with the FDA. Serological tests detect antibodies that are formed after an immune reaction to the pathogen has taken place. These tests can determine if an individual has developed immunity to a virus. Researchers are still studying how long antibodies last and whether they are protective against the COVID-19 virus."
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FIXX ALNY | Hot Stocks08:13 EDT Homology Medicines appoints Jeff Poulton to board of directors - Homology Medicines (FIXX) announced that Jeff Poulton has been appointed to the Board of Directors. Poulton is the CFO at Alnylam (ALNY).
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DLHC | Hot Stocks08:10 EDT DLH Holdings awarded multiple task orders, contracts related to COVID-19 testing - DLH Holdings announced that it has recently been awarded multiple task orders and contracts related to COVID-19 testing and analysis that are expected to add at least $15M of incremental revenue, with the majority anticipated in calendar 2020. The task orders encompass the evaluation of various treatment alternatives and the impact of COVID-19 on other chronic conditions, as well as the development of health communication tools to exchange emerging data among numerous scientific stakeholders. These efforts are being performed for the U.S. Department of Health and Human Services.
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HRL | Hot Stocks08:09 EDT Hormel Foods' Fontanini Foods announces return of furloughed team members - Fontanini Foods announced it has been bringing back furloughed team members over the last few weeks and now all 150 furloughed team members have been offered the opportunity to return. Fontanini Foods employs approximately 500 employees and is part of the Hormel Foods' family of companies.
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JPM | Hot Stocks08:08 EDT JPMorgan Asset Management, Hazeltree partner for cash, liquidity management - J.P. Morgan Asset Management and Hazeltree have partnered to deliver a unique and integrated cash and liquidity management platform to private equity, private credit, real estate and infrastructure funds. J.P. Morgan Asset Management clients are now able to access Hazeltree's technology to effortlessly manage multi-bank relationships across their entire fund structures and seamlessly access J.P. Morgan's liquidity products. This enables private fund managers to quickly onboard their complex legal entities onto J.P. Morgan's liquidity platform and operationally facilitates the increased transactions workload across various counterparties in an efficient and highly controlled manner. This partnership provides clients with unlimited transparency into all cash and liquidity accounts, across all banking relationships, enabling fund managers to easily track and forecast cash balances. Additionally, clients can easily configure robotic automation to calculate excess, investable cash, and recommend cash investment decisions based on user-defined parameters and constraints.
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CMG | Hot Stocks08:07 EDT Chipotle names Mary Winston, Gregg Engles to board of directors - Chipotle Mexican Grill announced two new additions to its board of directors, Mary Winston and Gregg Engles. The changes to the board composition come after Chipotle appointed Brian Niccol, the company's CEO, to the position of Chairman of the Board of Directors in early March, as well as the departure of three directors. With the Board composition changes, the Chipotle Board will now be comprised of nine directors, eight of whom are independent. The Board is committed to ongoing director refreshment and continues to consider new, qualified independent directors. Mary Winston is the Founder and President of WinsCo Enterprises, a consulting firm providing financial and board governance advisory services since 2016. Gregg Engles is the founder and managing partner of Capitol Peak Partners, a capital investment company since April 2017.
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AAPL | Hot Stocks08:06 EDT Apple commits to be 100% carbon neutral for supply chain, products by 2030 - Apple said in a release, "Apple unveiled its plan to become carbon neutral across its entire business, manufacturing supply chain, and product life cycle by 2030. The company is already carbon neutral today for its global corporate operations, and this new commitment means that by 2030, every Apple device sold will have net zero climate impact. Apple is providing detail on its approach to carbon neutrality with a roadmap for other companies, as industries look to reduce their impact on climate change. In its 2020 Environmental Progress Report - released today - Apple details its plans to reduce emissions by 75 percent by 2030 while developing innovative carbon removal solutions for the remaining 25 percent of its comprehensive footprint. To support these efforts and beyond, Apple is establishing an Impact Accelerator that will focus on investing in minority-owned businesses that drive positive outcomes in its supply chain and in communities that are disproportionately affected by environmental hazards. This accelerator is part of Apple's recently announced $100 million Racial Equity and Justice Initiative, focused on efforts that address education, economic equality, and criminal justice reform."
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SABR | Hot Stocks08:06 EDT Mindsay and Sabre launch service automation solution for travel industry - Mindsay and Sabre announced the official launch of a customer service automation solution for airlines, online travel agencies, or OTAs, and travel management companies, or TMCs. As the only conversational AI technology to integrate seamlessly with Sabre, Mindsay's intelligent virtual agents are fully connected with Sabre's APIs, giving them the ability to automatically resolve a variety of requests, from simple FAQs to complex booking modifications. This unique integration allows travel companies to automatically resolve up to 70% of customer requests, significantly reducing call and live chat volumes.
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TRVG | Hot Stocks08:05 EDT Trivago announces launch of COVID-19 database - Trivago announced the launch of its new COVID-19 database is now available for travelers. The database aggregates the most updated information on restrictions for travelers into a single, consolidated source. Travelers and businesses can now access the free database for up-to-date details including any restrictions on entry, social distancing rules, the use of personal protective equipment in accommodations, and open activities and businesses at the destination. Users simply select the country and region they are looking to visit, and the platform returns details on whether the location is open for domestic and/or international travel and the length of quarantine restrictions, if any. The resulting information also includes the status for hotels, vacation rentals, restaurants, bars, night clubs, museums and other events at the location. When travelers look to book accommodations on the trivago website, they will see a banner at the top of the page linking them to the COVID database. The European COVID-19 Travel Alliance, which includes trivago, gathers the source materials for the database from reputable government sources for each country and region. This initiative supports local tourism industries, providing a resource for travelers and travel institutions to pass along the information to their customers online and through mobile applications.
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ADTX BLK | Hot Stocks08:04 EDT Aditx Therapeutics appoints Corinne Pankovcin as CFO - Aditx Therapeutics (ADTX) announced that it has appointed Corinne Pankovcin as CFO, effective as of July 2, 2020. Prior to joining Aditxt, Ms. Pankovcin was the CFO and Managing Director of Business Development Corporation of America, a business development company, from December 2015 to July 2019. At BDCA, Ms. Pankovcin was responsible for strategic planning, financial forecasting, and financial reporting, in addition to being a trusted advisor and resource to BDCA leadership. From January 2011 to August 2015, Ms. Pankovcin was the CFO and Treasurer of BlackRock Capital Investment Corporation (BLK), and a Managing Director of Finance at BlackRock Investment Management.
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ADBE IBM | Hot Stocks08:02 EDT Adobe, IBM, Red Hat announce strategic partnership - Adobe (ADBE), IBM (IBM) and Red Hat announced a strategic partnership to help accelerate digital transformation and strengthen real-time data security for enterprises, with a focus on regulated industries. The intent of the partnership is to enable companies to deliver more personalized experiences across the customer journey, driving improved engagement, profitability and loyalty. The partnership will initially focus on: Deployment Flexibility with Hybrid Cloud: Adobe, IBM and Red Hat aim to enable brands to manage and deliver their content and assets within any hybrid cloud environment, from multiple public clouds to on-premise data centers. By certifying and delivering Adobe Experience Manager 6.5, part of Adobe Experience Cloud, to run on Red Hat OpenShift, the industry's leading enterprise open source container platform, IBM will offer clients the flexibility to host, access and leverage data in the environment of their choice. Adobe Enabled for Financial Services: Adobe joins IBM's partner ecosystem as a strategic partner providing CX solutions for the IBM Cloud for Financial Services. Using the IBM Cloud for Financial Services, IBM will extend Adobe Experience Manager to professionals in this industry with the aim of helping them as they meet their security and regulatory requirements when delivering personalized experiences to their customers. Adobe and IBM Services: IBM iX, the business design arm of IBM Services, will extend their offerings across all of Adobe's core enterprise applications. With broader, integrated support for clients across Adobe Creative Cloud, Adobe Experience Cloud, and Adobe Document Cloud, IBM iX will accelerate how global brands use data to design, implement, and scale personalized customer experiences to instill trust across every corner of their business.
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NMTR | Hot Stocks07:51 EDT 9 Meters Biopharma doses first patients in Phase 1b/2a clinical trial in SBS - 9 Meters Biopharma announced that the first patients have been dosed in a Phase 1b/2a clinical trial to assess NM-002 in adults with short bowel syndrome, or SBS. 9 Meters said in a release, "BS is a life-threatening orphan disease caused by a significant shortening of the gastrointestinal tract, leading to impaired nutrient absorption. Many SBS patients rely at least partly on parenteral support, an intravenous method of providing hydration, essential nutrients and electrolytes. NM-002 is a long-acting injectable glucagon-like peptide-1, or GLP-1, receptor agonist designed specifically to treat gastric motility in SBS patients by slowing digestive transit time, which may reduce reliance on parenteral support. The Phase 1b/2a clinical trial is an open-label, single-center study evaluating the safety and tolerability of three escalating doses of NM-002 in adult patients with SBS. Patients in each of three cohorts will receive two doses of NM-002 two weeks apart. Change in daily urine output volume is designated as the primary endpoint, as an inversely related proxy for usage of parenteral support. NM-002,which utilizes Amunix's proprietary XTEN technology to extend the circulating half-life of the GLP-1 peptide has demonstrated acceptable safety and a half-life of up to 30 days in a 70-patient clinical study and has been granted Orphan Designation by the FDA."
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J | Hot Stocks07:46 EDT Jacobs to help modernize Sydney rail network - Jacobs and Australian rail group John Holland will deliver design and construction services to Transport for New South Wales for the More Trains, More Services - North Works Package project. The project will upgrade critical infrastructure along the T4 Illawarra, T8 Airport and South Coast lines between Central and Hurstville in Sydney, supporting the roll out of new suburban and intercity trains, removing bottlenecks and increasing the reliability and frequency of services for Sydney rail customers. Jacobs will deliver rail design and construction support services for the project. TfNSW estimates the project is worth approximately $195M and expects construction to begin in mid-2020, well ahead of service improvements planned for late 2022.
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OPRX WBA | Hot Stocks07:45 EDT OptimizeRx appoints Greg Wasson to board of directors - OptimizeRx (OPRX) has appointed Greg Wasson, former president and CEO of Walgreen Boots Alliance (WBA), to its board of directors.
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PVAC | Hot Stocks07:43 EDT Penn Virginia sees Q2 production of 18,500-18,900 barrels of oil/day - Penn Virginia announced an operational update and timing of its second-quarter 2020 earnings release and conference call. Operational and Financial Update: Estimated production for the second quarter of 2020 of between 18,500 - 18,900 barrels of oil per day and between 24,100 - 24,600 barrels of oil equivalent per day; Realized oil price for the second quarter of 2020 of approximately $23.97 per barrel and $50.37 per barrel including hedge settlements; Increased oil hedge positions; Completed three drilled uncompleted wells in June 2020; Estimated capital expenditures for the second quarter of 2020 of between $10.5M - $12.5M; Reduced accounts payable by approximately $45M in the second quarter of 2020; Expect to be slightly free cash flow positive for the second quarter of 2020 and significantly FCF positive in the third quarter of 2020; and Current credit facility balance, net of cash, of approximately $315M as of July 20, 2020. CEO John Brooks commented, "We are extremely proud of our operational and financial results for the quarter, especially in light of the challenging market conditions. Given these conditions and our commitment to capital discipline, we shut down activity in early April, minimizing the amount of capital incurred during the second quarter. We also actively added put hedge contracts that allowed us to benefit from falling oil prices in the second quarter. These contracts helped the Company generate a realized oil price of over $50 per barrel as well as incremental cash flow, which we used to reduce payables and pay down debt. With respect to our production volumes, we proactively secured third party oil storage to give us the most operating flexibility possible. In early May, we recognized that the oil markets were in steep contango with June pricing, when taking effect of differentials, of approximately $20 per barrel higher than May. To take advantage of this dislocation in the market, Penn Virginia elected to store a significant portion of our May oil production, rather than fully shutting in. By utilizing our storage assets, we were able to capture that arbitrage and sell that production in June at much higher pricing. Additionally, due to the short-term nature of the production shut-in, our PDP wells are performing very well, and no degradation of those wells is evident. With our strong production profile and high realized pricing after taking into account substantial realized hedge gains, we will again be free cash flow positive for the second quarter. Since the beginning of the year, we have reduced the outstanding credit facility balance, net of cash on hand, by approximately $40M. Given our current outlook, we expect to continue our free cash flow positive trend for the remainder of the year and plan to use that free cash flow to reduce debt further. As always, we remain focused on capital discipline and cash on cash returns."
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LMT | Hot Stocks07:42 EDT Lockheed Martin jumps 4% after Q2 results beat estimates, FY20 outlook raised - In pre-market trading, shares are up 4% to $379.80.
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KNL | Hot Stocks07:40 EDT Knoll announces closing of $164M convertible preferred equity investment - Knoll announced the closing of the previously announced purchase of $164M in convertible preferred stock by an independently managed subsidiary of Investindustrial VII L.P. As previously announced, transaction terms follow: $164M of convertible, perpetual preferred stock, which will be convertible into shares of Knoll, Inc. common stock at an initial conversion price of $16.75 per share. The preferred stock carries a 4.50% dividend, which will be payable at Knoll's option in cash or in-kind for the first 2 years and payable in cash thereafter. Knoll expects to use the net proceeds from the transaction for general corporate purposes, including to reduce outstanding borrowings under its credit facility.
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BIIB | Hot Stocks07:38 EDT Biogen to initiate Phase 4 study of SPINRAZA in patients treated with Zolgensma - Biogen announced it plans to initiate a global Phase 4 clinical study, RESPOND, to examine the clinical benefit and assess the safety of SPINRAZA in infants and children with spinal muscular atrophy who still have unmet clinical needs following treatment with gene therapy Zolgensma. People with SMA do not produce enough survival motor neuron protein, which is critical for the maintenance of motor neurons that support sitting, walking and basic functions of life, including breathing and swallowing. The RESPOND study will seek to understand if the proven efficacy of SPINRAZA and its continuous production of SMN protein may also benefit patients previously treated with gene therapy. In the long-term study of Zolgensma, it has been reported that, to date, 4 out of 10 patients have been subsequently treated with SPINRAZA. Based on the planned study design, RESPOND will be a two-year, open-label study to evaluate the efficacy and safety of SPINRAZA in SMA patients previously treated with Zolgensma to further inform treatment decisions. Efficacy will be assessed by change from baseline on motor function measures, additional clinical outcomes and caregiver burden. Neurofilament levels, an exploratory endpoint, will also be evaluated as a marker of biological disease activity. The primary study group aims to include 40 infants aged 9 months or younger who have 2 copies of SMN2 and received Zolgensma at 6 months old or younger. A second study group will include 20 children and will generate data in patients with a broader age range. After a screening period, participants will receive the approved 12 mg dose of SPINRAZA, which is four loading doses followed by maintenance doses every four months, over the two-year study period. The company plans to submit the study protocol to the regulatory authorities in the coming months and aims for the first eligible patients to be enrolled in the RESPOND study in Q1 2021. The study is projected to enroll 60 children up to 3 years old who are determined by the investigator to have the potential for additional clinical improvement after receiving Zolgensma. Physicians will evaluate children for participation using criteria that may include one or more of the following: suboptimal motor function; the need for respiratory support; abnormal swallowing or feeding ability; or other factors deemed relevant by the investigator.
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ROCK | Hot Stocks07:36 EDT Gibraltar Industries appoints Debbie Murphy as Chief Marketing Officer - Gibraltar Industries (ROCK) announced that Debbie Murphy has joined the company in the newly created post of Chief Marketing Officer. Ms. Murphy joins Christopher Lok, who was named Chief Digital Information Officer in January, in building out key functions on Gibraltar's senior team. She previously served as the CMO/EVP of JLL's (JLL) Corporate Solutions business.
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IFRX | Hot Stocks07:36 EDT InflaRx to enter Phase III development of IFX-1 in COVID-19 induced pneumonia - InflaRx announced that the Company has decided to continue development with IFX-1 in severe COVID-19 induced pneumonia. The Company plans to initiate a double-blinded, randomized, placebo-controlled Phase III trial that will be adequately powered for statistical analyses. In the Phase III part of the study, subject to regulatory approval, the Company plans to enroll approximately 360 early intubated, critically ill patients with COVID-19 induced pneumonia. InflaRx plans to conduct the study at sites in the US, Europe, South America and potentially other regions. An interim analysis is currently planned after enrollment of 180 patients, with the potential for an early stop for efficacy or futility. In addition to the primary endpoint of 28-day all-cause mortality, other planned key endpoints include assessments of organ support and assessment of disease improvement on the ordinal scale. The Phase II part of the study evaluated IFX-1 treatment plus best supportive care compared to best supportive care alone for up to 28 days. The Phase II part was randomized and enrolled a total of 30 patients. The 28-day all-cause mortality rate was 13% in the IFX-1 treatment arm compared to 27% in the best supportive care arm. All deaths in the best supportive care arm occurred in COVID-19 induced multi-organ failure. In the IFX-1 treatment arm, one patient died after an acute ventilator tube complication leading to hypoxia and one patient who met an exclusion criterion with a history of severe chronic obstructive pulmonary disease, which was not known at time point of enrollment, died of pulmonary failure. In the IFX-1 treatment arm fewer patients experienced renal impairment assessed by estimated glomerular filtration rates and more patients showed reversal of blood lymphocytopenia and a greater lowering of lactate dehydrogenase concentrations as a sign of reduction in tissue damage. A temporary, but statistically significant increase of D-dimer levels in the first days following IFX-1 administration was noted, as a potential signal for induction of blood clot lysis. No statistically significant group differences on the chosen primary endpoint of relative change from baseline to day 5 in oxygenation index were detected. The Phase II results have been submitted for publication to a peer-reviewed medical journal along with a preprint server.
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BHVN | Hot Stocks07:35 EDT Biohaven completes enrollment in Phase 3 the M-STAR study - Biohaven Pharmaceutical Holding announced that it has successfully completed enrollment in the M-STAR study, an international Phase 3 clinical trial evaluating the safety and efficacy of verdiperstat in multiple system atrophy, or MSA. Verdiperstat is an investigational drug and potential first-in-class myeloperoxidase, or MPO, inhibitor designed to target sources of neuroinflammation that contribute to brain cell death in neurodegenerative diseases including MSA and amyotrophic lateral sclerosis, or ALS. Verdiperstat has received Orphan Drug and Fast Track designations for MSA from the FDA, as well as Orphan Drug designation from the European Medicines Agency.
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LMT | Hot Stocks07:35 EDT Lockheed Martin reports Q2 cash from operations of $2.2B
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LMT | Hot Stocks07:34 EDT Lockheed Martin reports record Q2 backlog of $150.3B
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MYOK FULC | Hot Stocks07:34 EDT MyoKardia, Fulcrum collaborate on therapies for genetic cardiomyopathies - MyoKardia (MYOK) and Fulcrum Therapeutics (FULC) announced that they have entered into a strategic collaboration and license agreement to discover, develop and commercialize novel targeted therapies for the treatment of genetic cardiomyopathies. Under the agreement, MyoKardia will access Fulcrum's unique, proprietary target discovery engine to identify therapeutics that control the expression of genes that are known to be underlying drivers of genetic cardiomyopathies. The collaboration focuses joint discovery efforts on certain undisclosed genetic targets. MyoKardia will be responsible for all development and commercialization activities for, and will have global rights to, any potential therapeutics identified through this collaboration. Fulcrum will receive a payment of $12.5M at the close of the transaction and may be eligible to receive research, development and commercial milestone payments and additional research reimbursement of up to $302.5M for a first product to progress through development and commercialization. If MyoKardia chooses to develop and commercialize products directed to additional targets under the collaboration, Fulcrum may be eligible for up to $150M in milestone payments. Fulcrum may also be eligible to receive tiered royalty payments in the mid-single-digit to low double-digit range on net sales for any products under the collaboration that are commercialized. MyoKardia intends to select targets for further exploration under this collaboration informed by its integrated research and development engine, which includes capabilities in translational research, proprietary and novel disease models, clinical development, and patient engagement and identification. Potential diseases associated with such undisclosed targets are expected to share common characteristics with indications currently being pursued by MyoKardia: strong and genetically-validated mechanistic rationale, high unmet patient need, potentially efficient pathway to approval, and synergy with the commercial organization that MyoKardia is building.
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LMT | Hot Stocks07:34 EDT Lockheed Martin raises FY20 cash from operations view to greater/equal to $8B - Prior view was greater/equal to $7.6B.
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MBRX | Hot Stocks07:32 EDT Moleculin Biotech announces new round of testing of WP1122 against coronavirus - Moleculin Biotech announced that a second round of independent laboratory testing has confirmed the antiviral activity of WP1122 against coronavirus. Moleculin Biotech is a clinical stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors. Moleculin contracted with IIT Research Institute for additional in vitro testing of its drug candidate, WP1122, in development as a possible treatment for COVID-19. The testing involved a cell viability assay in the VERO E6 cell line infected with SARS-CoV-2 and compared the therapeutic effects of 2-DG alone with those of WP1122, a 2-DG prodrug.
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IMRN | Hot Stocks07:32 EDT Immuron says IMM-124E demonstrates antiviral activity against COVID-19 - Immuron announced that IMM-124E used to manufacture the company's flag ship commercially available and over-the-counter gastrointestinal and digestive health immune supplements Travelan and Protectyn has demonstrated neutralizing activity against the severe acute respiratory syndrome coronavirus-2, the virus that causes COVID-19. The cytopathic effect inhibition cell-based assay was established and performed by 360 biolabs, a Melbourne based Contract Research Organization using the SARS-CoV-2 hCoV19/Australia/VIC01/2020 virus obtained from Melbourne's Peter Doherty Institute for Infection and Immunity. The in-vitro assessment of the neutralization of SARS-CoV-2 was performed on four production lots of product used to manufacture Travelan and Protectyn. The In-vitro susceptibility of the virus to IMM-124E was determined using the quantitative assay which measures virus replication in the presence of increasing concentrations of the product compared to replication in the absence of the product. The effective concentration of IMM-124E was reported as the concentration of the product at which virus replication is inhibited by 50 percent or 90 percent. All four production lots produced mean EC50 values of 40.5 to 91.9 ug/mL and inhibited viral replication at concentrations which there was no observed cell toxicity. The concentration of IMM124E at which virus replication was inhibited by 90 percent produced mean EC90 values ranging from 48.7 to 155.4 ug/mL for all four lots tested again at concentrations at which there was no observed cell toxicity. A commercially available high protein milk powder product was used as a placebo in the studies and produced EC50 values greater than the observed cellular cytotoxicity concentration of greater than4800 ug/mL. The control milk powder inhibited viral replication at doses greater than25,000 ug/mL and more importantly did not inhibit viral replication at doses which it was cytotoxic to cells. Another major finding made during the study was that cell viability in the presence of IMM-124E was greatly enhanced when compared to placebo. IMM-124E improved cell viability by 180 to 260% relative to controls. These results indicate that IMM-124E at concentrations which inhibited SARSCoV-2 replication improved cell viability. Bovine coronavirus is widely prevalent in dairy cows and is transmitted by infected feces being taken in via the mouth or nose. The virus initially infects cells in the small intestine, and then spreads through to the colon. The major source of coronavirus is adult cattle carriers shedding the virus in their feces and thereby exposing the newborn calves. Bovine coronaviruses cause respiratory and enteric infections in cattle including: severe diarrhea in newborn calves; winter dysentery in adult cows; bovine infectious respiratory disease in calves and adult cattle. Prophylaxis of BCoV enteric disease in newborn calves is usually obtained by means of vaccination of pregnant cows to enhance the level of maternal antibodies that are transferred to their offspring through colostrum, thus exerting a local protective effect against BCoV-induced enteritis. Specific treatment and prevention of coronavirus also involves the feeding of antibodies against coronavirus. This can be achieved by feeding the antibody rich colostrum from coronavirus vaccinated animals, to calves for the first few weeks of life. Therefore, the possibility of producing a Hyper-immune Bovine Colostrum to severe acute respiratory syndrome-like coronavirus is quite high. However, the prevalence and prognosis of digestive system involvement and gastrointestinal symptoms in patients with COVID-19 remains largely unknown. Colostrum is a complex biological fluid that is rich in nutritional components, immune regulating compounds and growth factors. The main functions of colostrum are to provide essential nutrients, strengthen the natural defense system, modulate immune response, balance intestinal microbiota, promote tissue growth and maturation of the digestive tract in newborns. Colostrum also has antiviral, antifungal and antibacterial properties which enable it to kill different pathogens like Escherichia coli, rotavirus and Cryptosporidium. Bovine coronaviruses belong to the family Coronaviridae in the order Nidovirales and are members of subgroup 2a along with swine hemagglutinating encephalomyelitis virus, canine respiratory CoV, and human CoV-OC43 and HKU1. HEV, which causes wasting disease, is an exception; the others all cause enteric and/or respiratory disease. The severe acute respiratory syndrome- CoVs, which are associated with respiratory and enteric infections in humans and animals, belong to the CoV subgroup 2b.1.
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IPI | Hot Stocks07:29 EDT Intrepid Potash announces early paydown of Series C senior notes - Intrepid Potash announced it paid down its Series C senior notes on July 17, 2020. Total payment to Series C noteholders was $17.1M, which included $15M in remaining principal, a reduced make-whole payment, and accrued interest. Intrepid made the payment entirely from cash on hand. After the payment, Intrepid has approximately $14M in cash on hand, $30M outstanding under its revolving credit facility, $15M remaining on its Series B senior notes due in 2023, and $10M outstanding from the Paycheck Protection Program. Intrepid has $44M of availability remaining under its $75M credit facility. Intrepid has used the entire $10M of its loan under the Paycheck Protection Program for eligible payroll expenses and expects the majority, if not all, of the loan will be forgiven.
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ATRS... | Hot Stocks07:27 EDT Antares Pharma announces first commercialization of multi-dose pen platform - Antares Pharma (ATRS) announced the first commercialization of the Company's multi-dose pen platform launched in Europe. Antares development partner Teva (TEVA), launched Teriparatide Injection, the generic version of Eli Lilly's (LLY) brand product Forsteo featuring the Antares multi-dose pen platform in Austria, Croatia, Hungary, The Netherlands, Portugal, Sweden, Switzerland and The United Kingdom and is expected to launch in other European countries later this year. Teriparatide injection is a drug-device combination product indicated for the treatment of osteoporosis associated with sustained systemic glucocorticoid therapy in women and men, and in postmenopausal women and in men at increased risk of fracture. Antares previously entered into an exclusive Development, License and Supply Agreement with Teva Pharmaceutical Industries, for a teriparatide injection product to be marketed globally, once approved by the respective regulatory authorities. Antares is responsible for the manufacturing and supply of the multi-dose pen utilized in Teva's generic teriparatide product. The scope of the teriparatide license and supply agreement with Teva is worldwide.
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PRQR | Hot Stocks07:25 EDT ProQR Therapeutics adds members to Scientific Advisory Board - ProQR Therapeutics announced the strengthening of the Company's Scientific Advisory Board with new members. The SAB members serve as strategic advisors to the Company as it continues to advance its pipeline of RNA therapeutics and its proprietary technology platforms. ProQR's SAB is comprised of: James Shannon, MD, Chair of the SAB, has served on ProQR's Supervisory Board since 2016. Mike Cheetham, PhD, is a Professor of Molecular Cell Biology at the University College London Institute of Ophthalmology. Thaddeus Drija, MD is the former Global Head of Ophthalmology Research at Novartis. Donald Fong, MD, MPH, is Chief of Ophthalmology and Director of the Kaiser Permanente Southern California Eye Monitoring Center. Art Levin, PhD is the Chief Scientific Officer at Avidity Biosciences. Martin Maier, PhD is Vice President Research at Alnylam Pharmaceuticals where he heads the RNAi Discovery group. Tim Stout, MD, PhD, MBA is an Inherited Retinal Disease specialist and the Sid W. Richardson Professor and Margarett Root Brown Chair of the Department of Ophthalmology, and Director of the Cullen Eye Institute at Baylor College of Medicine. Phil Zamore PhD is a Howard Hughes Medical Institute Investigator, Gretchen Stone Cook Chair of Biomedical Sciences, Professor of Biochemistry and Molecular Pharmacology, and Chair of the RNA Therapeutics Institute at the University of Massachusetts Medical School.
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PSTI | Hot Stocks07:23 EDT Pluristem expects current resources to support operations for over three years - CEO Yaky Yanay said, "Pluristem had approximately $59M in cash and cash equivalents as of June 30, 2020. We expect that our current resources, together with the funds expected from the European Investment Bank, assuming all agreed milestones are achieved, will support our operations for over three years. We believe this will enable us to complete the development of our current pipeline, with the goal to bring multiple product registrations both in the U.S. and Europe. In these times of global challenges, we continue advancing our ongoing clinical trials, while keeping our commitment to the health and wellbeing of all of our stakeholders. We wish all our shareholders, clinical and business partners, employees and patients good health and resilience at this time."
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PSTI | Hot Stocks07:22 EDT Pluristem sees results from Phase I study of PLX-R18 in 1Q21 - CEO Yaky Yanay said, "Our Phase I study of PLX-R18 in hematology, specifically for incomplete hematopoietic recovery following HCT, is enrolling patients in the U.S. and in Israel. Following discussions with our advisory board, we intend to complete enrollment with 20 patients. We expect to meet this milestone by the end of the third quarter of calendar 2020, and subsequently provide top line results in the first quarter of calendar 2021."
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PSTI | Hot Stocks07:21 EDT Pluristem sees data from U.S. PLX-PAD study in COVID-19 in Q4 - CEO Yaky Yanay said, "The Phase II U.S. study evaluating PLX-PAD in patients suffering from severe COVID-19 complicated by Acute Respiratory Distress Syndrome is planned to enroll 140 subjects. We continue to open sites in accordance with the changing dynamics of the spread of COVID-19 in the U.S. In addition, we are finalizing our discussions with Germany's health regulatory agency, the Paul Ehrlich Institute, in order to launch a study in Europe. Our target is to complete enrollment and to provide top line 28-days follow-up data on our U.S. study during the fourth quarter of calendar 2020."
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PSTI | Hot Stocks07:19 EDT Pluristem sees results from PLX-PAD study in muscle regeneration in 3Q21 - CEO Yaky Yanay said, "For our Phase III trial of PLX-PAD in muscle regeneration following hip fracture in the U.S., Europe and Israel, we have enrolled more than 60% of the 240 patients planned for the study and we expect to complete enrollment by the end of calendar 2020. Top line results are expected in the third quarter of calendar 2021."
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TPR | Hot Stocks07:18 EDT Tapestry jumps 5% to $13.75 after CEO resigns
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PSTI | Hot Stocks07:18 EDT Pluristem expects interim data analysis from Phase III study of PLX-PAD in Q4 - CEO Yaky Yanay said, "Over the last few months, we held discussions with the U.S. Food and Drug Administration and the European Medicines Agency to reaffirm understandings related to the interim readout of our global pivotal Phase III study of PLX-PAD in CLI. We expect to announce top line interim data analysis results during the fourth quarter of calendar 2020. The interim process and possible outcomes: An analysis of the interim data will have three possible outcomes: a) an earlier than planned end-of-study may be achieved if the top line interim data analysis achieves overwhelming efficacy (p less than or equal to0.01), b) the study may be declared futile if there is no probability of successfully achieving the primary endpoint on the full data set after enrolling all patients, or c) the study is in line with the protocol assumptions and considered to be in a promising zone for success. If the third possible outcome results, Pluristem will continue to enroll patients, and will analyze the data again on the full data set. Following the FDA's and EMA's advice and recommendations, the following are the main items implemented in the study design and the interim readout: The primary endpoint for the interim analysis will be identical to the full study endpoint, a comparison between the PLX-PAD treated group and the placebo treated group of the number of days from randomization to occurrence of major amputation of the index leg or death. We believe that meeting this endpoint in the interim readout will potentially enable us to start a discussion with the FDA and EMA regarding filing of a Biologics License Application and Marketing Authorisation Application, respectively. The original protocol design was to enroll 246 patients, with the protocol assumptions expecting 82 amputation or death events upon completion of one-year follow-up. Based on the regulators' recommendations, and in order to secure the statistical power for success, the full study analysis will be based on 82 events, rather than enrollment of 246 patients. We do not expect a significant change in the number of enrolled patients required to complete the 82 events. The interim readout will be conducted based on a minimum of 45 events, which have already occurred. After a slowdown in enrollment due to COVID-19, we currently expect the pace of enrollment to accelerate and forecast to complete enrollment of the study population in the U.S., Europe and Israel by the fourth quarter of calendar 2020. This expectation takes into consideration the impact of COVID-19 on the access to treatment and follow up sites while maintaining the safety of the patients, as we continue to follow FDA and EMA guidelines for conducting clinical studies during COVID-19."
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PSTI | Hot Stocks07:16 EDT Pluristem CEO says 'continuing to advance' regenerative medicine candidates - Pluristem Therapeutics issued an update to its shareholders from its CEO and President, Yaky Yanay. The CEO said, "During this challenging period marked by the ongoing global COVID-19 pandemic, we are continuing to advance our regenerative medicine product candidates with the aim of improving the lives and health of people around the world. In addition to our clinical programs, we are also taking an active role in finding an effective treatment solution to COVID-19 complications. We hope and believe that PLX-PAD may play an instrumental role in overcoming the devastating impact of the coronavirus.Today I would like to provide an update on the key clinical milestones and corporate developments for the year to come. We are heading towards a pivotal year with four clinical readouts, on multiple opportunities for success in advancing PLX product candidates towards registration with applicable regulatory agencies. The entire Pluristem team is dedicated to success, and I would like to make sure all of you are aware of important milestones ahead of us."
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CERC | Hot Stocks07:15 EDT Cerecor enrolls first patient in multicenter PoC study of CERC-002 - Cerecor announced the first patient has been enrolled in a proof-of-concept trial evaluating the safety and efficacy of the anti-LIGHT monoclonal antibody, CERC-002, in patients with COVID-19 cytokine storm-induced Acute Respiratory Distress Syndrome. The proof-of-concept, randomized, multicenter, double-blind, placebo-controlled trial will enroll approximately 82 subjects hospitalized with COVID-19 ARDS. The primary objective of the study is to demonstrate that treatment with CERC-002 results in fewer instances of respiratory failure and death versus the standard of care. Patients in the CERC-002 arm will receive a single dose of drug and be followed for 28 days. Key secondary endpoints include intensive care unit length of stay, hospital length of stay, and oxygen saturation at the end of the study. Top-line data are expected in the fourth quarter of 2020. The scientific rationale for the study is supported by positive results from Cerecor's and Myriad Genetics' recent biomarker study, conducted with Hackensack Meridian Health Network, which demonstrated elevated levels of the inflammatory cytokine LIGHT in patients hospitalized with COVID-19 cytokine storm-induced ARDS. In the patients studied, LIGHT levels were significantly elevated in the serum of hospitalized patients with COVID-19 versus healthy controls. The highest LIGHT levels were found in patients who required ventilator support, particularly in patients over 60 years of age. Importantly, the data demonstrated elevated LIGHT levels were also strongly linked with mortality. The data suggest that LIGHT might play a key role in cytokine storm that leads to ARDS. CERC-002 is a first-in-class monoclonal antibody targeted against the inflammatory cytokine LIGHT. It is the only anti-LIGHT therapy in clinical development and has the potential to be a treatment option for this patient population in critical need.
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RDHL | Hot Stocks07:13 EDT RedHill Biopharma seeks SEC review of suspicious trading activity - RedHill Biopharma announced it is seeking regulatory review by the Securities and Exchange Commission, and intends to approach the Financial Industry Regulatory Authority, regarding suspicious trading activity including potential naked short selling of the Company's stock. The company said, "The Company engaged with a leading securities law expert and a forensic investigation firm specializing in trading irregularities and market integrity analysis. The resulting analysis identified trading patterns indicating potentially illegal conduct which warrant scrutiny by the regulatory authorities. The Company is concerned that its shareholders are being harmed by various manipulative trading practices and is determined to take all appropriate actions to stop further market abuse and support any resulting regulatory investigation."
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LXRX | Hot Stocks07:12 EDT Lexicon says all four Phase 3 sotagliflozin studies met primary objectives - Lexicon Pharmaceuticals announced topline data from four Phase 3 sotagliflozin studies in type 2 diabetes: SOTA-MONO, SOTA-SU, SOTA-GLIM and SOTA-INS. The final results of these studies will be preserved for upcoming medical congresses and publications. All four Phase 3 sotagliflozin studies met their primary objectives of lowering A1C in patients with type 2 diabetes. The observed safety profile of sotagliflozin in these studies was generally consistent with that of approved SGLT2 inhibitors. Diarrhea, an event consistent with gastrointestinal SGLT1 inhibition, was generally more common on sotagliflozin than placebo, although it was not a meaningful cause of treatment discontinuation. Genital mycotic infections were dose-related. The absolute increase in the incidence of genital mycotic infections over placebo ranged from 0% to 3.7% in studies of the 200 mg dose and from 3.2% to 6.3% in studies of the 400 mg dose. In one study, sotagliflozin showed less hypoglycemia than glimepiride, and in the other three studies, the incidences of hypoglycemia in patients on sotagliflozin were similar to those on placebo. Lexicon does not intend to pursue any regulatory approvals of sotagliflozin for type 2 diabetes in the absence of a strategic partnership for the commercialization of sotagliflozin in such indication. In the Phase 3, multicenter, randomized, double-blind, placebo-controlled SOTA-MONO study, sotagliflozin 400 mg and 200 mg as monotherapy was tested for superiority versus placebo in reducing A1C after 26 weeks of treatment in patients with type 2 diabetes and inadequate glycemic control. The study enrolled 142 patients on sotagliflozin 400 mg, 107 patients on sotagliflozin 200 mg and 150 patients on placebo. The study met its primary endpoint, demonstrating that sotagliflozin 400 mg and 200 mg significantly reduced A1C in patients with type 2 diabetes and inadequate glycemic control on diet and exercise alone. Safety results were similar to those in other studies of sotagliflozin in type 2 diabetes, with similar incidences of hypoglycemia on sotagliflozin and placebo. SOTA-SU was a 507-patient, randomized, double-blind, placebo-controlled, parallel group, multicenter Phase 3 study that evaluated the efficacy and safety of sotagliflozin 400 mg added to a sulfonylurea, alone or in combination with metformin, in patients with type 2 diabetes who had inadequate glycemic control on a sulfonylurea or metformin alone. The primary endpoint was the change in A1C from baseline to Week 26. Patients were followed for a total of 79 weeks. The study met its primary endpoint, demonstrating that sotagliflozin 400 mg significantly reduced A1C in patients with type 2 diabetes who were on sulfonylurea alone or in combination with metformin with inadequate glycemic control on a sulfonylurea or metformin alone at Week 26. Importantly, A1C reduction persisted through 79 weeks. Safety results were similar to those in other studies of sotagliflozin in type 2 diabetes. Mean estimated glomerular filtration rate was estimated at Week 79, and was similar for sotagliflozin and placebo. Despite the presence of sulfonylurea background therapy, the incidences of hypoglycemia were similar on sotagliflozin and placebo. SOTA-GLIM was a 954-patient, randomized, double-blind, double-dummy, active- and placebo-controlled, parallel group, multicenter Phase 3 study that evaluated the efficacy and safety of sotagliflozin 400 mg compared to glimepiride or placebo added to metformin in patients with type 2 diabetes who had inadequate glycemic control with metformin therapy. The primary objective of the study was to demonstrate the non-inferiority of sotagliflozin 400 mg compared to glimepiride on A1C at Week 52. Patients were followed for a total of 52 weeks. The study met its primary objective, as the change from baseline in A1C reduction to Week 52 was the same on sotagliflozin 400 mg and glimepiride, and the 95% confidence interval excluded the pre-specified margin of non-inferiority. Safety results were similar to those in other studies of sotagliflozin in type 2 diabetes, with less hypoglycemia on sotagliflozin than glimepiride. SOTA-INS was a 571-patient, randomized, double-blind, placebo-controlled, parallel group, multicenter, 52-week Phase 3 study that evaluated the efficacy and safety of sotagliflozin 400 mg and 200 mg or placebo in patients with type 2 diabetes who had inadequate glycemic control on basal insulin alone or in addition to oral antidiabetic agents. The primary endpoint was a change in A1C from baseline to Week 18. Patients were followed for a total of 52 weeks. The study met its primary endpoint, demonstrating that sotagliflozin 400 mg and 200 mg significantly reduced A1C in patients with type 2 diabetes who had inadequate glycemic control on basal insulin alone or in addition to oral antidiabetic agents. Importantly, A1C reduction persisted at the same magnitude at 52 weeks. Safety results were similar to those in other studies of sotagliflozin in type 2 diabetes. Despite the presence of background insulin therapy, the incidences of hypoglycemia were similar on sotagliflozin and placebo.
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SSTK MSFT | Hot Stocks07:11 EDT Shutterstock announces API integration with Microsoft Advertising - Shutterstock (SSTK) announced an API integration with Microsoft Advertising (MSFT). The first application of the integration provides free access to millions of commercially licensed images to customers of the Microsoft Audience Network, their programmatic native advertising offering. Advertisers can search, preview, and apply any Shutterstock image in the Microsoft Advertising user interface, allowing them to create beautiful campaigns faster than ever and without having to leave the ad creation workflow. The new Shutterstock images feature was initially piloted in a closed beta program. Following a highly successful beta, the feature is now available to advertisers in the U.K. and the U.S and will expand to other markets later in the year. The high-quality native placement ads are served across Microsoft owned and operated sites including MSN, Outlook.com and Microsoft Edge, and on select premium publisher partners such as CBS Sports, Everyday Health, Fox Business, the Atlantic, Apartment Therapy and Reuters.
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HUSA | Hot Stocks07:10 EDT Houston American Energy announces 1-for-12.5 reverse stock split - Houston American Energy announced that the Company will effect a 1-for-12.5 reverse stock split of its common stock on July 31, 2020. The Company's common stock is expected to begin trading on a split-adjusted basis on the NYSE American exchange at the market open on August 3. The reverse stock split is intended to increase the per share trading price of the Company's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the NYSE American exchange.
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CCBG | Hot Stocks07:09 EDT Capital City Bank says 56 of 57 banking offices reopened lobby access
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LIVX AESE | Hot Stocks07:08 EDT LiveXLive Media and an Allied Esports subsidiary announce plans for shows - LiveXLive Media (LIVX) and a subsidiary of Allied Esports Entertainment (AESE), announced plans to develop an entertainment program that merges live music and competitive gaming. The new show concept will use Allied Esports' popular mobile esports entertainment facility, the HyperX Esports Truck, as the production studio and main stage as chart-topping artists, including Trippie Redd who has over 15 million social media followers will star in the pilot, and DJs face off in music-based battles and then drop the mic and pick up the controller for an intense gaming showdown. As part of the deal, LiveXLive will also produce ancillary content from the show for its streaming platform and will promote the format across its other existing original programs like LiveZone, Music Lives ON and the recent virtual Spring Awakening Music Festival 2020.
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IGC | Hot Stocks07:08 EDT IGC files patent with USPTO for new formation to treat pain - India Globalization Capital filed a patent application, IGC-511, with the United States Patent and Trademark Office for a new cannabinoid formulation intended for the treatment of chronic pain, muscular pain, and neuropathic pain in humans and veterinary animals.
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MUSA | Hot Stocks07:07 EDT Murphy sees 2020 retail fuel volumes 217,500-222,500 average gallons/store month - In the first quarter 2020 earnings release, management withdrew the Company's retail fuel volume guidance due to the ongoing pandemic and an inability at that date to project volume recovery for the remainder of 2020. The company expects New Stores: 25 to 27; Raze-and-Rebuild: 28 to 30; Total fuel contribution: 24 to 25; Retail fuel volume per store K gallons APSM: 217.5 to 222.5; Merchandise contribution: $455M to $460M; Retail station OPEX excluding credit cards: Up 1-3%; SG&A: $150M to $155M; Effective Tax Rate: 24% to 26%; Capital expenditures: $250M to $275M Based on the gradual recoveries of volumes seen since the mid-April time frame the Company is now able to project an estimated full year year guidance of 217,500 to 222,500 average gallons per store month for our retail fuel volumes. Strong tobacco performance has led to higher overall merchandise margins than expected previously. Organic growth has experienced a slight shift but we still expect total combined store count to be near 55 for the full year. To reach those store counts and be prepared for future growth we expect to raise the low end of our capital expenditures range by $25 million. All of these guidance changes are predicated on continuing the slow ramp of fuel volumes that we have experienced since the middle of second quarter and that continues into July. The Company has not recently provided a projected range of all-in fuel margin, Net Income, or Adjusted EBITDA. In the spirit of increased transparency consistent with the current health pandemic, the Company has decided to provide an expected full year total fuel contribution in cents per gallon. For modeling purposes only, if all-in fuel margins approximate 24.5 cpg, management would expect the business to generate Net Income of $383 million and Adjusted EBITDA of about $719 million for full year 2020 using the midpoint of the updated retail fuel volume guidance combined with the midpoint of the other original guidance metrics that have not changed since issuance.
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TECH | Hot Stocks07:07 EDT Bio-Techne announces launch of ExoCovid-19 test for detection of COVID-19 - Bio-Techne announced that Exosome Diagnostics, a Bio-Techne brand, has completed validation testing for COVID-19 caused by the novel coronavirus and now offers the ExoCovid-19 test for detection of the virus in patient samples. The ExoCovid-19 test will be performed in its CLIA-certified, CAP-accredited laboratory.
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IRWD | Hot Stocks07:06 EDT Ironwood reaches alignment with FDA on updates to IW-3718 Phase III program - Ironwood Pharmaceuticals announced that it has reached alignment with the FDA on certain updates to its Phase III clinical program evaluating IW-3718 in adults with refractory gastroesophageal reflux disease, or GERD. Ironwood said in a release, "The updates are as follows: The primary endpoint for the two identical trials - IW-3718-301 and IW-3718-302 - has been changed from the previous responder endpoint to a continuous endpoint. Ironwood plans to stop enrollment of study subjects into IW-3718-302 and to conduct a blinded early assessment of efficacy in that trial; the company expects to report the outcome of this assessment in the fourth quarter of 2020. Ironwood is also in discussions with the FDA regarding its request for long-term safety data for IW-3718 in refractory GERD patients. Ironwood has provided a detailed overview of the existing long-term safety data for colesevelam and is working closely with the FDA to determine whether any additional data is needed in connection with a New Drug Application, or NDA, submission for IW-3718. Ironwood's Phase III program comprises two identical randomized, double-blind, placebo-controlled, multicenter trials of IW-3718, its gastric retentive formulation of a bile acid sequestrant, for the potential treatment of patients with refractory GERD. Patients evaluated in these trials must demonstrate evidence of pathological acid reflux. Patients enrolled in the trials continue to take proton pump inhibitors, or PPIs, and are randomized to placebo or IW-3718 1500 mg twice a day for eight weeks. The primary endpoint for the Phase III trials is now the assessment of change from baseline to week 8 in weekly heartburn severity scores. The original primary endpoint was an overall heartburn responder (defined as a patient who experiences at least a 45% reduction from baseline in heartburn severity for at least four out of eight weeks, including at least one of the last two weeks), which has been moved to become one of the key secondary endpoints, along with a change in weekly regurgitation frequency and the proportion of heartburn-free days. Ironwood's decision to change the primary endpoint was primarily based on recent FDA guidance indicating the FDA's preference for continuous endpoints over responder endpoints. The new endpoint is very similar to the primary endpoint in the IW-3718 Phase IIb clinical trial and the previous key secondary endpoint in the Phase III trials, which both assessed percent change from baseline to week 8 in weekly heartburn severity score."
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STN | Hot Stocks07:04 EDT Stantec awarded $6.3B contract as bridge inspection provider for three US DOT - Stantec has been selected to provide bridge inspection services for three US State Departments of Transportation, or DOT: Nevada, or NDOT, Colorado, or CDOT, and North Dakota, or NDDOT. The work carried out by Stantec's bridge inspection teams will use the latest technology and engineering methodology to ensure the bridges are safe for the traveling public and that they can continue to serve their communities. The global demand for routine bridge inspections is set to quadruple from current levels to a market valuation of $6.3B by the end of 2029, according to research firm Fact.MR. The increased demand will be driven by aging infrastructure, damaging environmental conditions, and the wear and tear from increased traffic.
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KO | Hot Stocks07:03 EDT Coca-Cola reports Q2 free cash flow $2.3B, down 40% - Year-to-date cash from operations was $2.8B, down 38%. Free cash flow was $2.3B, down 40%.
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KO | Hot Stocks07:03 EDT Coca-Cola says lost market share in NARTD beverages - The company lost value share in total nonalcoholic ready-to-drink beverages as an underlying share gain was more than offset by negative channel mix due to pressure in away-from-home channels, where the company has a strong share position.
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XYL OSK | Hot Stocks07:00 EDT Xylem appoints Sandra Rowland as CFO - Xylem (XYL) announced it has appointed Sandra Rowland as Senior Vice President and CFO effective October 1, reporting to Xylem President and CEO Patrick Decker. Rowland will succeed Mark Rajkowski, who will retire from the Company at the end of the year, allowing for an orderly and smooth transition. Since January of 2015, Rowland has served as Executive Vice President and CFO of Harman International Industries, an $8.6B leader in the design and engineering of electronic and audio products, connected solutions and automated systems for enterprise, automotive and consumer markets. She is also a member of the Board of Directors and Audit and Human Resources Committees of industrial manufacturer Oshkosh Corporation (OSK). Rowland will be based at Xylem's headquarters in Rye Brook, N.Y. Mark Rajkowski, Xylem's CFO since 2016, will retire from the Company in December. Rajkowski came out of a previous retirement to lead Xylem's global Finance organization, setting the finance strategy and structure that has underpinned the Company's growth and transformation. Rajkowski will remain with the Company in an advisory capacity between October and the end of the year, working with Rowland to provide for an orderly and smooth transition.
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KO | Hot Stocks07:00 EDT Coca-Cola reports Q2 adjusted operating margin 30% vs. 30.3% a year ago
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KO | Hot Stocks06:59 EDT Coca-Cola reports Q2 global unit case volume declined 16%
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LODE | Hot Stocks06:58 EDT Comstock Mining reports Q2 selected financial highlights - Comstock Mining reported selected financial highlights including: recorded a gain of $1.6M on the increased value of equity investment in Tonogold, now valued at over $10.4M at June 30, as compared to $8.8M at March 31; recorded positive net income for the three months ended June 30, primarily driven by the gains resulting from the increased value of Tonogold assets owned by us; received a $500.000 million early payment in June, on obligations owed from Tonogold and reduced our Senior Debt principal down to $4.1M in mid-July, down from $4.5M, at June 30; raised $1.25M for the initial mercury remediation growth investment in the Philippines; and cash and cash equivalents at June 30, were approximately $1.0M.The Company has enacted its Board-approved transformational strategic plan, focused on high-value, cash-generating, precious metal-based activities including, but not limited to, environmentally friendly, and economically enhancing mining technologies, like mercury remediation. The goal is to deliver over $500M of value from our existing assets and the commercialization of these environmental mining technologies, partnerships and ventures. Non-mining assets are now valued at over $25M, net of debt. Company has agreements to sell the Industrial and Commercial lands plus the senior water rights in Silver Springs, for over $10M, and now expect those sales to close in Q3. These proceeds will extinguish approximately $5.2M in debt obligations. A $6.1 investment in Tonogold Convertible Preferred Stock, or CPS, is now valued at $10.4Mbased on shares that have already been converted and Tonogold's current share price. The company is also owed approximately $4.9M from Tonogold through a 12%, cash interest paying debt instrument, with principal payments of $400,000 still due this October 2020, and $4.475M due September 2021.
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LODE | Hot Stocks06:56 EDT Comstock Mining reports investments in Mercury Clean Up increased to $1.75M - Comstock Mining announced selected strategic and financial updates, unaudited, for the Q2 and year to date: Investments in Mercury Clean Up increased to $1.75M in cash and stock to date with the Comstock mercury remediation system completed and shipping this week; committed to investing in MCU Philippines after MCU agreed to a definitive joint venture agreement with Clean Ore Solutions OPC, to partner in a landmark mercury remediation project in the Philippines; Committed up to $3M in debt and equity investments, for 62.5% of the newly created MCU Philippines, with the new mercury remediation system ready for shipment; and consummated the April acquisition of 25% of PELEN, owner of the historic Sutro Tunnel Company.
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SYF | Hot Stocks06:50 EDT Synchrony up 4.5% after reporting Q2 results - In pre-market trading, shares are up 4.5% to $23.39.
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TLRD | Hot Stocks06:48 EDT Tailored Brands identifies 500 stores for closure - Tailored Brands has safely welcomed customers back to 96% of its retail stores in full compliance with CDC and government requirements. At the same time, the Company has re-evaluated the forecasted profitability and strategic value of every store in its fleet relative to current and anticipated trends in consumer demand and has identified up to 500 stores for closure over time. The Company has not yet quantified the expense savings and costs related to potential store closures and the corresponding store organization and supply chain infrastructure and organization realignment.
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TLRD | Hot Stocks06:47 EDT Tailored Brands announces departure of CFO Jack Calandra - Tailored Brands announced that Jack Calandra, Executive Vice President, CFO and Treasurer, will leave Tailored Brands as of July 31. In the near term, Calandra's responsibilities will be divided between Lathi and Holly Etlin, a Managing Director at AlixPartners who has been appointed to the newly created role of Chief Restructuring Officer, reporting directly to Lathi. Etlin brings more than 30 years of restructuring experience and a deep expertise in retail, and has been working closely with the executive team and Board of Directors as an advisor since late March.
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TPR | Hot Stocks06:47 EDT Tapestry CEO Jide Zeitlin resigns, Joanne Crevoiserat named interim CEO - Tapestry announced that effective immediately, Jide Zeitlin, Chairman and CEO, has resigned from the company and its Board of Directors for personal reasons. As a result, Joanne Crevoiserat, CFO, has been appointed Interim CEO of Tapestry. Todd Kahn, President, Chief Administrative Officer and Company Secretary, will serve as Interim CEO and Brand President of Coach, and Andrea Shaw Resnick, Global Head of Investor Relations and Corporate Communications, has been named Interim CFO of the company. Additionally, Susan Kropf, the company's Lead Independent Director, has been appointed Chair of the Board of Directors. The company is commencing a search for a permanent CEO, which will include internal and external candidates.
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TLRD | Hot Stocks06:47 EDT Tailored Brands to reduce headcount by 20% during Q2 - Tailored Brands announced that, as a result of the unprecedented and industrywide business disruptions resulting from the coronavirus pandemic, it is implementing a series of operating and organizational changes. Specifically, the Company will make organizational changes that will result in the elimination of approximately 20% of its corporate positions by the end of the fiscal Q2. In addition, the Company has identified up to 500 retail stores for potential closure as well as associated opportunities to reduce and realign its store organization and supply chain infrastructure and organization to best serve its go-forward store footprint and e-commerce business. These changes are designed to strengthen the Company's financial position and enable it to compete more effectively in the challenging retail environment. In connection with these corporate personnel changes, the Company expects to record a pre-tax charge of approximately $6M in the Q2 for severance payments and other termination costs, all of which are cash costs.
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PRT | Hot Stocks06:45 EDT PermRock Royalty Trust declares no monthly cash distributions for July - PermRock Royalty Trust said in a release, "PermRock Royalty Trust declared there will be no monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust as of July 31. The net profits calculation was based principally upon production during the month of May and includes $84,265.24 in net profits income to be distributed to the Trust, which amount will be used to cover Trust administrative expenses."
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AZZ CMC | Hot Stocks06:39 EDT AZZ Inc. divests Galvabar business to Commercial Metals, terms not disclosed - AZZ Inc. (AZZ) said in a release, "AZZ Inc. announced that it has successfully completed divesting its Galvabar business. Terms of the transaction were not disclosed." AZZ sold the business to Commercial Metals (CMC).
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CMC AZZ | Hot Stocks06:37 EDT Commercial Metals acquires substantially all assets of GalvaBar from AZZ Inc. - Commercial Metals (CMC) announced that its wholly owned subsidiary, CMC Steel Oklahoma, LLC, has acquired substantially all of the assets of AZZ's (AZZ) Continuous Galvanized Rebar business which, through a proprietary process, produces GalvaBar. Commercial Metals said in a release, "GalvaBar is galvanized rebar with a zinc alloy coating that provides both superior corrosion protection and exceptional post-fabrication formability. GalvaBar operates out of a dedicated facility in Tulsa, Oklahoma, and its products are sold throughout the United States and the Caribbean."
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NICE | Hot Stocks06:37 EDT Nice's Robotic Automation business parners with Minit - NICE announced that it's Robotic Automation business has partnered with Minit to help organizations discover optimal processes to automate graphically with unparalleled accuracy. Combining Minit's visual and interactive process maps and statistics with the AI-driven desktop analytics capabilities of NICE's Automation Finder enables graphical mapping and prioritization of end-to-end processes with the finer sequences and routines. This clear visual prioritization and mapping of automation processes result in increased deployment success, operational efficiency and return on investment, or ROI. In their December 2019 report entitled 'Predicts 2020: RPA Renaissance Driven by Morphing Offerings and Zeal for Operational Excellence' Gartner forecasts, "By 2023 50% of new RPA scripts will be dynamically generated." Further, "The integration of process mining, ingestion engines, analytics, user experience and machine learning will facilitate the creation of AI-generated RPA scripts that mimic the capabilities of humans."
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CMC | Hot Stocks06:36 EDT Commercial Metals acquires substantially all assets of GalvaBar - Commercial Metals announced that its wholly owned subsidiary, CMC Steel Oklahoma, LLC, has acquired substantially all of the assets of AZZ's Continuous Galvanized Rebar business which, through a proprietary process, produces GalvaBar. Commercial Metals said in a release, "GalvaBar is galvanized rebar with a zinc alloy coating that provides both superior corrosion protection and exceptional post-fabrication formability. GalvaBar operates out of a dedicated facility in Tulsa, Oklahoma, and its products are sold throughout the United States and the Caribbean."
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PBYI | Hot Stocks06:35 EDT Puma Biotechnology, Acentrus Specialty partner on Nerlynx delivery - Acentrus Specialty has finalized an agreement with Puma Biotechnology to provide qualified Acentrus clients access to Nerlynx.
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TFX | Hot Stocks06:35 EDT Teleflex announces data from three studies of UroLift System - Teleflex announced that data from three studies of the UroLift System were presented at the European Association of Urology, or EAU, 2020 virtual congress, underscoring the safety and effectiveness of the minimally invasive treatment for benign prostatic hyperplasia, or BPH, among broad patient groups. "The UroLift System is a standard of care treatment that provides rapid symptom relief and recovery for patients suffering from the burdensome symptoms of BPH, said Dave Amerson, president of Teleflex Interventional Urology business unit. "Results from these studies are largely consistent with those found in previous clinical studies of the UroLift System, further supporting the safety and lasting benefits of this minimally invasive treatment in the real-world and among difficult-to-treat patient populations." Oliver Kayes, M.D. Leeds Teaching Hospitals NHS Trust, presented Prostatic Urethral Lift Real-World Study Confirms Effectiveness and Safety in a Broad Array of Patient Groups. A presentation entitled 12-month symptom and urodynamic outcomes of the prostatic urethral lift in patients with acute urinary retention was presented by Mark Rochester, M.D., Norwich & Norfolk University Hospital. The study examined the feasibility of the UroLift System to treat patients with acute urinary retention. A third study - Meta-analysis comparison of sexual function outcomes after treatment with prostatic urethral lift or medical therapy - was presented by Claus Roehrborn, M.D., University of Texas Southwestern Medical Center.
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OPK | Hot Stocks06:25 EDT Opko Health up 16% after BioReference unit signs pact for NFL COVID-19 testing - In pre-market trading, shares are up 16% to $5.76.
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OPK | Hot Stocks06:15 EDT Opko Health's BioReference Laboratories in pact for NFL COVID-19 testing - On July 20, Jon Cohen, M.D., Executive Chairman of BioReference Laboratories, a subsidiary of OPKO Health, publicly announced as a guest on the CNBC program, "Mad Money," that BioReference had reached an agreement in principle with the National Football League to provide COVID-19 testing for the NFL. The foregoing agreement in principle with the NFL remains subject to definitive documentation and the parties' execution and delivery thereof.
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CYDY | Hot Stocks06:08 EDT CytoDyn reports safety data from Phase 2 trial of leronlimab - CytoDyn announced the results of the patient safety data from the company's over-enrolled COVID-19 Phase 2 trial for mild-to-moderate indications. A total of 84 patients were treated across 8 study sites in the randomized, double-blind, placebo-controlled Phase 2 study. Fifty-six patients were assigned to the leronlimab arm compared to 28 patients in the randomized placebo arm with a 2:1 active drug to placebo ratio. This trial was designed to evaluate the safety and efficacy of leronlimab and the results of efficacy portion of the data is anticipated to be released as soon as the statistical analyses of all primary and secondary endpoints are completed. In this Phase 2 study, 34% (19 of 56 patients) treated with leronlimab compared to 50% (14 of 28 patients) treated with placebo reported at least one adverse event. A total of 19 serious adverse events were reported during the study. Eleven SAEs were reported in 6 patients receiving placebo compared to eight SAEs in 5 patients receiving leronlimab. None of the SAEs in the leronlimab arm were deemed related to study drug administration by the investigators. Of the 84 patients treated, one patient died 33 days after enrollment due to an event unrelated to leronlimab. Scott Kelly, M.D., CytoDyn's Chief Medical Officer, commented, "We are very pleased with the safety results in the double-blinded, placebo-controlled study of the mild-to-moderate COVID-19 population. When considering treatment options in the COVID-19 population, it is paramount in treating this complex disease to provide patients with therapeutic options that minimize SAEs. We believe the significant reduction in SAEs in the leronlimab group ultimately translates into improved patient clinical outcomes. Prior drugs in clinical trials for the treatment of COVID-19 have resulted in an increase in SAEs in the drug treated arm versus placebo. We are extremely proud of these results."
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IDXG | Hot Stocks06:07 EDT Interpace Biosciences announces publication of peer-reviewed paper - Interpace Biosciences announced that a peer-reviewed manuscript describing results from a seminal clinical validation study of the combination of ThyGeNEXT and ThyraMIR has been accepted for publication in the highly respected journal, Diagnostic Cytopathology. The study, led by Dr. Mark Lupo from the Thyroid and Endocrine Center of Florida, reported on the ability of the combination of ThyGeNEXT/ThyraMIR tests to successfully stratify nearly 200 indeterminate thyroid nodules for risk of malignancy. Sites participating in this multicentered study included Cedars-Sinai Medical Center, Jackson Thyroid & Endocrine Clinic, University of Michigan, Massachusetts General Hospital/Harvard Medical School, and the University of Arkansas for Medical Sciences.
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AHH | Hot Stocks06:04 EDT Armada Hoffler collected 91% of July's monthly portfolio rents as of July 17 - Armada Hoffler Properties provided an update on rent collections for July. As of July 17, the company had collected 91% of July's monthly portfolio rents, exceeding the prior month's collection rate of 87% as of June 19. "Our rent collections continue to trend upward through the first half of July and we anticipate finishing the month with over 95% of our portfolio rents collected," said Louis Haddad, President and CEO. "Substantially all of our office tenants remain current, and we expect to collect nearly all July multifamily rents consistent with the previous three months. Furthermore, our retail rent collection rates continue to improve now that essentially all of our tenants are open and operating. The strength and resiliency of our retail portfolio are demonstrated by July rent collections of over 80% and deferment agreements now largely in place. We look forward to our August 4th earnings call and intend to provide additional clarity on the remainder of the year at that time."
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STFC | Hot Stocks06:03 EDT State Auto Financial sees Q2 net catastrophe losses $90M - State Auto Financial announced its preliminary estimate of the impact of catastrophe losses on its Q2 results. The company estimates the Q2 results will include approximately $90M, or 26.5 points, of net catastrophe losses, primarily driven by wind and hail events that impacted the South and Midwest. Approximately 60% of the catastrophe losses for the quarter were in the homeowners line of business. The estimate does not include COVID-19-related exposures which are not expected to be material to the Company's second quarter results and will be reported in non-catastrophe losses and ALAE. STFC expects to release its Q2 results on Thursday, August 6.
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MTP | Hot Stocks05:54 EDT Midatech Pharma enters collaboration for Q-Sphera platform - Midatech Pharma announces it has entered into a research collaboration for the Q-Sphera platform with a European affiliate of a global pharmaceutical company. Midatech Pharma said in a release, "Within the multi-project collaboration, Midatech will deploy its in-house expertise and proprietary drug delivery platforms towards assets nominated by the pharmaceutical company. The feasibility studies may establish the application of the Q-Sphera platform to new modalities in drug delivery. Novel assets and products arising from the collaboration will be the property of the pharmaceutical company and in the event that the feasibility study is successful, the pharmaceutical company would be required to enter into a licence agreement to use the Q-Sphera platform. Following announcement of the first research agreement for the Q-Sphera platform on 8 June 2020, this second Pharmaceutical collaboration further builds upon Midatech's dual business model to develop an internal portfolio of differentiated, sustained release products in parallel to enabling access to the technology by strategic collaborators to best exploit the full potential of the Q-Sphera platform, and potentially broaden its application to new therapeutic areas and modalities."
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VOD ACN | Hot Stocks05:52 EDT Vodafone enters partnership with Accenture - Vodafone Business (VOD) is teaming with Accenture (ACN) to deliver managed security services to small to medium enterprises, or SME, and national corporate customers in Europe. Vodafone said in a release, "Vodafone will bring enterprise-grade cybersecurity along with access to leading cyber talent and expertise to organisations that do not have the experience, time or resources to keep up with the rapidly evolving threat landscape. As a result of this strategic relationship, businesses in Europe will have access to world-class security services in simple, pre-defined packages designed specifically for their needs from a provider they trust. Accenture and Vodafone Business also intend to jointly invest in security innovation to help keep organizations safe as new threats emerge. The agreement is a key step forward in Vodafone Business' strategy to offer enterprise-grade cybersecurity to businesses of all sizes. In response to the global COVID-19 pandemic, more organizations are conducting business online and working to secure their supply chains. This shift has highlighted gaps between small to medium enterprises at different levels of digital readiness that are very vulnerable to cyberattacks. While larger enterprises improve their cybersecurity defense, cybercriminals are increasingly turning their attention to less well defended organisations. Vodafone Business is committed to helping customers emerge stronger and safer from the crisis."
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EBAY | Hot Stocks05:50 EDT eBay sells Classifieds Group to Adevinta for total consideration valued at $9.2B - eBay and Adevinta announced they entered into a definitive agreement for eBay to transfer its Classifieds business to Adevinta for a total consideration valued at approximately $9.2B, based on the closing trading price of Adevinta shares on the Oslo Stock Exchange on July 17. The companies said in a release, "As part of the transaction, eBay will receive $2.5 billion in cash and approximately 540 million Adevinta shares which would represent an equity stake of approximately 44% based on the number of Adevinta's outstanding shares, as of the end of the second quarter, and a ~33.3% voting stake. The management teams of Adevinta and eBay Classifieds Group have a shared set of strategic principles developed through a common history of acquiring and scaling generalist online classifieds platforms and successfully verticalizing them to create value. The breadth of talent across the companies and the collective experience across the combined portfolio will serve to optimize strategies for the various assets at different stages of development, accelerating monetization and creating value to consumers and advertisers. The sale is subject to regulatory approvals, customary closing conditions, including approval by the affirmative vote of holders of at least two-thirds of the votes cast as well as of the share capital of Adevinta ordinary shares represented in person or by proxy at an extraordinary general meeting of the stockholders of Adevinta, and consultation with competent works councils, other employee representation bodies or employees where and to the extent required by applicable law. The transaction is expected to close by the first quarter of 2021. Adevinta is majority owned by Schibsted ASA, which has agreed to vote in favor of the transaction. Related to the transaction, Schibsted has entered into an agreement with Adevinta to acquire eBay Classifieds' Danish entity and therefore leading marketplaces in Denmark, DBA.dk and Bilbasen.dk, once the transaction between eBay and Adevinta closes. Blommenholm Industrier AS, which holds approximately 6.3% of Adevinta's ordinary shares, has also agreed to vote in favor of the transaction. Following the closing of the transaction, each of eBay and Schibsted will be entitled to designate two directors to the Adevinta board of directors so long as it holds at least 25% of the Adevinta ordinary shares, and one director so long as it holds at least 10% of the Adevinta ordinary shares. eBay's equity stake at closing will consist of approximately 33% of Adevinta's ordinary shares, with the remainder of its stake consisting of non-voting shares."
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EBAY | Hot Stocks05:47 EDT eBay sells Classifieds Group to Adevinta for $9.2B
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LGC | Hot Stocks05:24 EDT Legacy Acquisition Corp terminates Share Exchange Agreement with Blue Valor - Legacy Acquisition said in a release, "Legacy Acquisition announced that as of July 20, Legacy terminated the Amended and Restated Share Exchange Agreement, dated December 2, 2019, between Blue Valor and Legacy, as amended by that First Amendment to the Amended and Restated Share Exchange Agreement, dated March 13, and is proceeding to evaluate alternative business combinations. The termination is in response to the increasing impact on the global advertising sector, and global markets broadly, resulting from the COVID-19 pandemic, which has negatively affected the market valuations. Pursuant to their respective terms, each of (i) the Sponsor Support Agreement, dated March 13, by and among Legacy Acquisition I LLC, a Delaware limited liability company, Legacy and Blue Valor, (ii) the Waiver Agreement, dated March 13, by and between the Sponsor and Legacy, and (iii) the Warrant Holder Support Agreements, dated March 13, by and between Legacy and the holders of approximately 19.765M of Legacy's public warrants, are terminated concurrently with the termination of the Share Exchange Agreement. Additionally, the Warrant Amendments described in the Consent Solicitation Statement filed with the SEC on May 15, and subsequently approved by the public warrant holders will not take effect and there will be no redemption rights or liquidating distribution with respect to Legacy's warrants. The warrants will expire worthless if Legacy does not complete an alternative business combination. The Legacy SPAC remains active, and is looking for targets across a broad spectrum of industries."
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GRUB | Hot Stocks05:09 EDT GrubHub signs agreement with Franklin Junction - Franklin Junction is announcing a new agreement with Grubhub. Franklin Junction said in a release, "The partnership will center on Franklin Junction's fast-growing list of host kitchens and popular food concepts, with Grubhub agreeing to fund Q3 marketing support for two Franklin Junction brands, The Captain's Boil and Order XOXO. The Captain's Boil has achieved early success on the platform, with more than 250 stores currently in operation and hundreds more expected to launch by the end of the year. Dedicated to connecting diners with the food they love from their favorite restaurants, Grubhub strives to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Global franchise and restaurant expert Aziz Hashim first launched Franklin Junction in April 2020, introducing an innovative concept in response to restaurants that were struggling to monetize excess kitchen and storage capacity amid closures and other limitations."
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