Stockwinners Market Radar for July 23, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:55 EDT Ion Geophysical announces first 3D multi-client program in Mauritania - ION Geophysical Corporation announced the first 3D multi-client program in Mauritania in partnership with the Ministry of Petroleum, Mines and Energy (MPME). ION will seamlessly integrate and reimage ~24,000 sq km of MPME-held 3D data and can expand the scope to include ~15,000 km of 2D data pending industry support. Leveraging the Company's latest technology and extensive reimaging experience, ION aims to significantly enhance the data's resolution and subsurface insights. The 3D volume has applications across the E&P lifecycle, helping reduce risk at play, prospect and reservoir scales. ION expects the program to commence in 2020 with final deliverables available in mid-2021.

18:31 EDT Evercore Partners enters strategic alliance with Seneca Evercore in Brazil - Evercore has entered into a strategic alliance with Seneca Evercore, an independent strategic advisory firm based in Sao Paulo, Brazil. The partnership allows the two firms to leverage their combined capabilities and knowledge. Daniel Wainstein and Rodrigo Mello, together with other partners, recently acquired the Greenhill Brazil platform, renaming it Seneca Evercore.

17:36 EDT Disney falls after 'Mulan' delay, pushes back 'Avatar' and 'Star Wars' films - All dated Star Wars films and Avatar sequels have been delayed one year on the calendar, according to media reports. Shares of Disney are off earlier lows, down over 1% to $116.50 in after hours trading.

17:27 EDT Boeing, Kratos Defense and Northrop Grumman awarded on $400M Air Force contract - Boeing (BA), Kratos Defense (KTOS) and Northrop Grumman (NOC) have each been awarded indefinite-delivery/indefinite-quantity contracts with a shared ceiling of $400M for all subsequent competitively selected delivery orders in support of the Skyborg Vanguard Program. Skyborg is an autonomous attritable aircraft capable of achieving a diverse set of missions to generate massed combat power; delivering a future Air Force which can deter, blunt and defeat peer adversaries. The Skyborg prototyping, experimentation and autonomy development contract will be used to deliver missionized prototypes in support of operational experimentation and develop the first Skyborg air platform with modular hardware and software payloads that will incorporate the Skyborg autonomy core system and enable manned/unmanned teaming. The locations of performance are to be determined at the order level and are expected to be completed by July 2026. These awards are being made as a result of a competitive acquisition and 18 offers were received. No funds are obligated on the awards and funding will be provided on each individual order. Air Force Life Cycle Management is the contracting activity.

17:20 EDT BAE Systems awarded $495.48M Air Force contract - BAE Systems has been awarded a $495.48M firm-fixed-price, cost-plus-fixed-fee and cost-reimbursable indefinite-delivery/indefinite-quantity contract for the Instrumentation Range Support Program. This contract provides for serviceable components and subsystems for instrumentation tracking systems, worldwide for both foreign and domestic government agencies to include radars, telemetry and optical range mission systems, flight termination systems, data acquisition systems and Global Positioning Systems. Work will be performed on participating ranges in the program, including Air Force, Army, Navy, NASA, Department of Energy, as well as foreign ranges in the United Kingdom, Germany, Norway, Sweden, Republic of Korea and Switzerland. Work is expected to be completed September 30, 2027. This award is the result of a competitive acquisition and three offers were received. FY20 operations and maintenance funds in the amount of $116,235 are being obligated on a delivery order at the time of award. This contract has a ceiling amount of $945.23M. The 45th Contracting Squadron is the contracting activity.

17:02 EDT MobileIron appoints Christof Baumgartner as CRO - MobileIron announced that Christof Baumgartner has been appointed chief revenue officer, or CRO. As CRO, Baumgartner is responsible for MobileIron's global sales and marketing organizations. Baumgartner has more than 25 years of experience in sales, product management and engineering. Baumgartner started his career at MobileIron in 2010, running sales and building the channel in the western Europe. He was promoted to VP and general manager of EMEA in 2017 and appointed to interim CRO in April. Prior to MobileIron, Christof ran product management, pre-sales and customer success at ubitexx, a mobile device management vendor.

16:47 EDT Walgreens Boots Alliance 'strongly supports' INFORM Consumers Act - In support of the INFORM Consumers Act introduced in the U.S. House of Representatives by Congresswoman Jan Schakowsky, Walgreens issued the following statement from Alex Gourlay, president of Walgreens. "The lack of transparency and accountability in today's digital marketplaces has contributed to the rapid rise of organized retail crime, which has become one of the top challenges facing the retail industry today. Walgreens strongly supports Congresswoman Schakowsky's INFORM Consumers Act, which complements the bipartisan Senate bill introduced earlier this year to require online marketplaces to verify high-volume sellers, remove incentives for retail theft and help make our communities safer. Now, more than ever, consumers deserve to know who they are buying products from online, in order to make safe and informed purchasing decisions for themselves and their families."

16:39 EDT Edwards Lifesciences jumps 6% after Q2 results beat ests, FY20 guidance raised - In after-hours trading, shares are up 6% to $82.00.

16:34 EDT Taro Pharmaceutical reaches global resolution of DOJ Antitrust investigations - Taro Pharmaceutical announced that its wholly-owned subsidiary, Taro Pharmaceuticals U.S.A., has resolved all cases involving the company in connection with the multi-year investigations by the Department of Justice, Antitrust Division and Civil Division into the U.S. generic pharmaceutical industry. Under a Deferred Prosecution Agreement reached with the DOJ, the DOJ will file an Information for conduct that took place between 2013 and 2015. If the company adheres to the terms of the agreement, including the payment of $205.7M, the DOJ will dismiss the Information at the end of a three-year period. The company has also reached a framework understanding with the DOJ Civil Division, subject to final agreement and agency authorization, in which the company has agreed to pay $213.3M to resolve all claims related to federal healthcare programs. The company is discussing a separate Corporate Integrity Agreement with the Department of Health and Human Services, Office of Inspector General. This agreement will supplement Taro's existing compliance programs, based upon established best practices and industry standards, as well as the company's global code of conduct. "We are happy to have reached this global resolution with the DOJ," said Uday Baldota, Taro's CEO. "Taro is committed to the highest level of ethics and integrity and we will continue to fully cooperate with the government on its ongoing investigation into the generic pharmaceutical industry."

16:32 EDT Theratechnologies announces new tesamorelin data published - Theratechnologies announced new data that further support the potential role of tesamorelin in the treatment of HIV-associated nonalcoholic steatohepatitis, or NASH. The new data were published in the recent online edition of JCI Insight and are derived from a sub-analysis of the Phase 2 study evaluating the effect of tesamorelin on the transcriptome of the liver biopsies in people living with HIV-associated nonalcoholic fatty liver disease, or NAFLD, conducted at Massachusetts General Hospital and the National Institute of Allergy and Infectious Diseases and led by Steven Grinspoon. The results of the Phase 2 study were previously published in the December 2019 issue of The Lancet HIV Journal. The sub-analysis of paired liver biopsy specimens from patients participating in the Phase 2 study using Gene Set Enrichment Analysis, or GSEA, assessed the effect of tesamorelin on hepatic transcriptomic signature of HIV-associated NAFLD/NASH. Results demonstrated that tesamorelin had a positive effect on gene expression related to oxidative phosphorylation and decreased gene expression related to inflammation, tissue repair and cell division. Furthermore, treatment with tesamorelin led to improvement of genes associated with favorable hepatocellular carcinoma prognosis,

16:26 EDT Amdocs to acquire Openet for $180M in cash, sees accretion in FY22 - Amdocs announced that it has entered into a definitive agreement to acquire Openet, a provider of 5G charging, policy and cloud technologies. The two companies are excited by the opportunity to bring Openet's open and network-centric technologies to Amdocs' 350+ service provider customers worldwide. Openet is a privately-owned company headquartered in Ireland, with offices in the U.S., Malaysia and Brazil and a global customer base. The boards of Openet and Amdocs have approved the transaction for net consideration of approximately $180M in cash which, subject to the satisfaction of the conditions to closing, is expected to be completed before the end of Q4. Openet has been generating in the past two calendar years revenue of roughly $70M per annum. The impact of the acquisition on Amdocs' non-GAAP diluted earnings per share is expected to be neutral in the FY20 and FY21, and accretive thereafter. Non-GAAP diluted earnings per share excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisitions related liabilities measured at fair value and equity-based compensation expenses, net of related tax effects. The impact on GAAP diluted EPS will not be known until after Amdocs completes the purchase price allocation. Further information relating to this acquisition will be provided on Amdocs' earnings conference callfor Q3 on August 5. The transaction consideration is denominated in Euro and translated to USD using the current exchange rate. The final amount in USD will be known at the closing of the transaction.

16:25 EDT Amgen declares Q3 dividend of $1.60 per share - The dividend will be paid on September 8 to all stockholders of record as of the close of business on August 17.

16:20 EDT MyoKardia receives breakthrough therapy designation from FDA for mavacamten - MyoKardia announced that the FDA has granted breakthrough therapy designation to mavacamten, a novel, oral, allosteric modulator of cardiac myosin, for the treatment of symptomatic, obstructive hypertrophic cardiomyopathy, or HCM. The FDA's breakthrough therapy designation is intended to expedite the development and review of a drug candidate that is planned for use to treat a serious or life-threatening disease or condition when clinical evidence indicates that the drug may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints.

16:16 EDT Everest Re sees Q2 net investment income $38M pre-tax - Despite the ongoing Pandemic and related economic impacts, Everest expects to report another profitable quarter during 2020, with positive underwriting income and growth in gross written premium across its platform. "Everest expects to report net investment income of $38 million pre-tax. Since Everest reports most limited partnership income on a one quarter lag, the global equity market downturn in the first quarter of 2020 is being reflected in our second quarter results. In turn, the improvement in global equity markets during the second quarter will be reflected in increased limited partnership investment income in our third quarter results. Pre-tax net catastrophe losses in the amount of $15 million arising from claims related to civil unrest in the United States, all within our Insurance segment. Pre-tax net Pandemic losses in the amount of $160 million. The $160 million is allocated $130 million to the Company's Reinsurance segment and $30 million to the Insurance segment."

16:15 EDT BioMarin submits MAA to EMA for vosoritide - BioMarin announced that the company submitted a Marketing Authorization Application to the European Medicines Agency for vosoritide, an investigational, once daily injection analog of C-type Natriuretic Peptide for children with achondroplasia, the most common form of disproportionate short stature in humans. Subject to completion of EMA's validation check, BioMarin anticipates the start of the MAA review to commence in August 2020. The company remains on track to submit a New Drug Application to the U.S.FDA in the third quarter of 2020. Vosoritide has Orphan Drug designation from the FDA and the EMA.

16:10 EDT Intel down 7.5% after earnings report - At time of writing, Intel shares are down $4.51, or 7.5%, to $55.89 in after-hours trading.

16:09 EDT Skechers not providing financial guidance given substantial uncertainty - The company is not providing further financial guidance at this time given the ongoing business disruption and substantial uncertainty surrounding the impact of the pandemic on its business globally.

16:06 EDT Mattel says all factories open with minimal disruption to operations - "Mattel's top priority has been to protect the health and safety of our people and at the same time mitigate the disruption to the business. Regional performance for the quarter continued to be directly impacted by retail closures and local restrictions. Our supply chain also continued to perform well despite temporary closures of certain manufacturing and distribution facilities early in the quarter. Currently, all of our factories are open with minimal disruption to operations, as we enter the peak production season. Mattel will continue to benefit from cost savings related to the Structural Simplification and Capital Light programs and from additional actions taken in 2020 in response to COVID-19. Liquidity is expected to be sufficient to effectively manage through the disruption and to continue to execute Mattel's strategy."

16:05 EDT Intel says accelerating 10nm product transition, 7nm product transition delayed - Intel said it is accelerating its transition to 10nm products this year with increasing volumes and strong demand for an expanding line up. This includes a growing portfolio of 10nm-based Intel Core processors with "Tiger Lake" launching soon, and the first 10nm-based server CPU "Ice Lake," which remains planned for the end of this year. In the second half of 2021, Intel expects to deliver a new line of client CPU's (code-named "Alder Lake"), which will include its first 10nm-based desktop CPU, and a new 10nm-based server CPU (code-named "Sapphire Rapids"). "The company's 7nm-based CPU product timing is shifting approximately six months relative to prior expectations. The primary driver is the yield of Intel's 7nm process, which based on recent data, is now trending approximately twelve months behind the company's internal target," Intel said.

16:03 EDT Skyworks raises quarterly dividend 14% to 50c per share - Skyworks' Board of Directors has declared a cash dividend of $0.50 per share of the Company's common stock, representing a 14 percent increase from the prior quarterly dividend of $0.44 per share. The dividend is payable on Sept. 1, 2020, to stockholders of record at the close of business on Aug. 11, 2020.

16:02 EDT Adaptimmune granted access to PRIME initiative by EMA for ADP-A2M4 - Adaptimmune announced that the European Medicines Agency, or EMA, has granted access to the PRIME initiative to the company for ADP-A2M4 for the treatment of synovial sarcoma. PRIME access provides enhanced scientific and regulatory support by the EMA to developers of medicines with the potential to significantly address unmet medical needs.

14:15 EDT Twitter CEO says company weighing subscription options - Twitter CEO Jack Dorsey said on the company's quarterly conference call that the company is exploring options to make more money from users, noting that he does think there's a world where a subsription service for the platform is complementary. Dorsey added that Twitter is "now at a place where we can explore other ideas. And you will likely see some tests this year." The CEO noted that the company is in the "very, very early phases of exploring."

13:30 EDT Southwest doesn't see more talks with Sabre over GDS system

13:13 EDT Southwest says 'lots of reasons' not to tap second government loan

13:09 EDT Southwest reports cash balance of $14B - Says has cash balance of $14B. Says since last earnings call has raised $10B to bolster cash reserve. Says has reduced 2020 cash outlays by $7B vs planned.

13:05 EDT Scansource expects to complete workforce reduction by end of September quarter - The Company expects to complete substantially all of the workforce reduction of approximately 200 positions by the end of the September 2020 quarter.

13:04 EDT Southwest sees remaining $1.2B in PPP proceeds to be reported in Q3 - Says had "stellar" quarter in terms of cost performance. Sees Q3 capacity falling 20%-30% year-over-year. Says have more than offset $1.4B-$1.5B in CapEx originally planned for this year.

12:54 EDT Southwest says September public schedule down 20%-25% y/y - Says challenging to give clear passenger estimates for September. Says September's public schedule down 20%-25% year-over-year.

12:47 EDT Southwest sees MAX deliveries slipping to 2021

12:42 EDT Southwest sees $1B in cost savings in 2021 from worker leaves, separations - Says costs savings expected to grow "substantially" in 2021. Says "super happy" with numbers, even as capacity rates fluctuate.

12:39 EDT Southwest 'prepared for a prolonged war' against COVID-19 pandemic - Says Q2 was a "record" quarterly loss. Says has performed better than goals laid out before. Says does not intend to engage in non-voluntary layoffs or furloughs, at least through the end of the year. Says has a "long, long way to go." Says prepared for prolonged war against pandemic. Comments taken from Q2 earnings conference call.

12:18 EDT Lannett launches Mexiletine HCl capsules, amid collaboration with Rivopharm - Lannett announced that it has launched Mexiletine Hydrochloride Capsules 150 mg, 200 mg and 250 mg, a partnered product. Mexiletine Hydrochloride Capsules is the AB-rated generic equivalent to Mexitil Capsules of Boehringer Ingelheim. "We have expanded our collaboration with Rivopharm SA to now include all three currently available dosage strengths of Mexiletine," said Tim Crew, chief executive officer of Lannett. "For at least the next six months, we believe we will be one of only three suppliers of this medication in the U.S. While the market opportunity for this product is relatively modest, patient use has increased meaningfully over the last few years." Total U.S. sales for the 12 months ended May 2020 of Mexiletine Hydrochloride Capsules 150 mg, 200 mg and 250 mg were approximately $16 million, according to IQVIA, although actual generic market values are expected to be lower.

12:11 EDT DraftKings says Casino Queen to rebrand as DraftKings at Casino Queen - DraftKings announced that Casino Queen will be rebranded as "DraftKings at Casino Queen", including its physical location in East St. Louis, in connection with DraftKings bringing its top-rated sportsbook app and a retail presence to Illinois in association with Casino Queen, subject to receiving necessary approvals. "We are excited to be working with Casino Queen to bring our premier sports betting experience to the state and its sports fans," said Ezra Kucharz, DraftKings Chief Business Officer. "Through this collaboration, we have the opportunity to change how fans engage with the sports they love, while becoming a part of the fabric of Illinois' rich sports culture."

12:03 EDT Google unveils new online shopping features that include Shopify, PayPal - Bill Ready, Google's president of commerce said in part: "Today, we're taking another important step to make it easier for retailers to sell on Google. Soon, sellers who participate in our Buy on Google (GOOG,GOOGL)checkout experience will no longer have to pay us a commission fee. And, we're giving retailers more choice by opening our platform to third-party providers-starting with PayPal (PYPL) and Shopify (SHOP). These changes are about providing all businesses-from small stores to national chains and online marketplaces-the best place to connect with customers, regardless of where a purchase eventually occurs...By removing our commission fees, we're lowering the cost of doing business and making it even easier for retailers of all sizes to sell directly on Google, starting with a pilot that we'll expand to all eligible sellers in the U.S. over the coming months. Learn more about the requirements for the pilot and sign up to join the waitlist....We've heard from retailers that they want the ability to choose their preferred services for things like payment processing, inventory, and order management. That's why we're opening our platform to more digital commerce providers, beginning with Shopify for inventory and order management and PayPal and Shopify for payment processing. So, if a retailer wants to sell directly on Google, they can get started even faster and continue using the tools and services that already work for their business. Or, if they're new to selling online, they'll be able to choose from multiple options when they sign up in our Merchant Center...Everything we're announcing today will roll out first in the U.S., and we're looking toward international launches later this year and in 2021." The Fly notes that these new features may impact Amazon (AMZN) https://blog.google/products/shopping/buy-on-google-is-zero-commission

12:00 EDT Bright Scholar falls -10.2% - Bright Scholar is down -10.2%, or -87c to $7.63.

12:00 EDT UMC rises 15.4% - UMC is up 15.4%, or 46c to $3.44.

12:00 EDT Bluegreen Vacations rises 26.5% - Bluegreen Vacations is up 26.5%, or $1.41 to $6.73.

11:36 EDT Nikola begins first phase construction of facility in Arizona - Nikola "is one step closer to bringing a 1 million-square-foot manufacturing facility to Coolidge, Ariz. following an official groundbreaking ceremony on its approximate 430-acre parcel. "This has been an incredible journey for Nikola Corporation. We started in our basement six years ago and now we are kicking off this 1 million-square-foot manufacturing facility," said Trevor Milton, Nikola founder and executive chairman...Located off U.S. Highway 87 at east Houser Rd and Vail Rd, the future 4.0 designed facility will incorporate the latest technology to increase connectivity 24/7 throughout the building and equipment to optimize overall energy, productivity and quality...The first phase of construction is scheduled for completion in late 2021, with the second phase projected to be complete within the following 12-18 months. The U.S.-based facility represents a capital investment of approximately $600M and will initially produce the Nikola Tre and Nikola Two. At full production, the facility will reach approximately 35,000 units annually, running two shifts. The first Nikola Tre trucks will be produced in Ulm, Germany with partner IVECO, followed shortly after by our Coolidge facility.

11:03 EDT Humana mailing over 1M in-home preventive care screening kits to members in 2020 - Earlier today, Humana (HUM) announced that the company will mail more than 1 million in-home preventive care screening kits to members in 2020, helping increase access to routine screenings that many members have put off during the pandemic. "Humana's new initiative, which triples the number of screening kits sent to members, comes as many people have postponed all but the most necessary health procedures during COVID-19, limiting doctors' appointments and emergency room visits... Humana's push to deliver in-home tests will focus particularly on members in need of colorectal cancer screening and diabetic condition management. They are being provided at no additional cost to Medicare Advantage members who are eligible for the test. In addition, eligible Medicaid members will receive the diabetic management test kits. This latest effort, which runs from June to September, builds on the company's commitment to proactively mail easy-to-use colorectal cancer screening and diabetic management kits to qualifying members' homes to identify cases of colon cancer earlier or to assess a patient's diabetes management to tailor therapy and help reduce complications of the disease," the company stated. Exact Sciences (EXAS), provider of the Cologuard colorectal cancer screening test, are up about 4% in morning trading following Humana's announcement this morning.

10:48 EDT Bluegreen Vacations declares special cash dividend of $1.19 per share - Bluegreen Vacations (BXG) announced that its board declared a special cash dividend on its common stock of $1.19 per share. The dividend is payable August 21, to shareholders of record as of the close of trading on August 6. In connection with the special dividend, the Company obtained an undertaking from BBX Capital (BBX), which owns approximately 93% of Bluegreen Vacations, to utilize the proceeds of the special dividend to repay BBX Capital's outstanding $80M debt owed to the company.

10:14 EDT Spirit Airlines sees Q3 capacity down 32% - Sees July capacity down 18%, August capacity down 35%, September capacity down 45%.

10:06 EDT Spirit Airlines sees rest of summer remaining challenging for company, industry - Comments taken from Q2 earnings conference call.

10:01 EDT BAE Systems awarded IDIQ contract from U.S. Army worth up to $823M - The U.S. Army has awarded BAE Systems an initial order under its Distributed Common Ground System Capability Drop 2 Program. The multiple award, Indefinite Delivery-Indefinite Quantity contract is worth up to $823M, and provides enhanced intelligence to see and better understand threats and other relevant aspects of the operational environment.

10:00 EDT Trinity Industries falls -7.3% - Trinity Industries is down -7.3%, or -$1.55 to $19.78.

10:00 EDT RLI Corp. rises 11.6% - RLI Corp. is up 11.6%, or $9.74 to $93.48.

10:00 EDT Helix Energy rises 26.4% - Helix Energy is up 26.4%, or $1.01 to $4.83.

09:47 EDT Relx falls -6.2% - Relx is down -6.2%, or -$1.43 to $21.55.

09:47 EDT Jumia Technologies falls -11.1% - Jumia Technologies is down -11.1%, or -$1.15 to $9.21.

09:47 EDT Helix Energy rises 21.2% - Helix Energy is up 21.2%, or 81c to $4.63.

09:43 EDT American Airlines in 'really good discussions with Boeing' - American Airlines (AAL) management said plan is still to take all 100 Boeing (BA) MAX aircraft on order. Management added talks are ongoing and "are good."

09:32 EDT AT&T: 'Tenet' will have theater debut, not online

09:29 EDT Azure Power trading halted, news pending

09:21 EDT AT&T: Amazon treating HBO Max differently than it does other services

09:20 EDT AT&T could have visibility for 2021 sometime in Q3

09:17 EDT American Airlines: JetBlue 'partnership is broad with wide range of codeshare' - American Airlines (AAL) management said its partnership with JetBlue (JBLU) is a broad partnership with a wide-range of codeshare and is "unconventional from previous codeshares in the past."

09:13 EDT Fifth Third sees Q3 NII down 3% sequentially - Sees Q3 loans and leases down 3.5%-4%. Sees Q3 noninterest income up at least 2%. Sees Q3 noninterest expense up 2%. Says significantly reduced deposit rates several times throughout the quarter. Sees effective tax rate of 21% for the rest of 2020. Says significantly lowered consumer certificate of deposit rates. Says terminated $3B in Federal Home Loan Bank advances. Says oil and gas portfolio remains well positioned. Comments and guidance taken from Q2 investor presentation slides.

09:12 EDT AT&T seeing a 'little bit of life' coming back into handset cycle

09:07 EDT Verizon Business to accelerate IoT solution creation with Microsoft Azure - Verizon Business (VX) announced plans to simplify and accelerate end-to-end IoT solution creation by providing all the critical components in the IoT value chain available to customers, such as connected devices, network/capability, cloud hosting and artificial intelligence. Verizon's industry-leading 5G/LTE Network, ThingSpace IoT platform - including secure connectivity to Verizon's industry-leading 5G/LTE network and full management and diagnostics capabilities - and Critical Asset Sensor devices have been integrated with Microsoft (MSFT) Azure to enable IoT Builders to create new IoT applications quickly and efficiently. Microsoft Azure IoT Central provides application-level, cloud-based analytics, as well as pre-built templates for a variety of industry use cases. By integrating Verizon's ThingSpace platform and Azure infrastructure, IoT system builders, integrators and service providers are able to quickly develop, deploy and operationalize complete IoT solutions.

09:06 EDT Workhorse Group receives purchase order for 20 all-electric trucks - Workhorse Group has received an initial purchase order for 20 of its all-electric C-1000 delivery vehicles from Cincinnati-based, newly-launched trucking company, eTrucks. eTrucks plans to function as a vehicle buyer and reseller and will be offering fleet funding programs and services tailored for different business needs.

09:05 EDT Comtech awarded $1.3M in orders - Comtech announced that during Q4, its Tempe, Arizona-based subsidiary, Comtech EF Data, which is part of Comtech's Commercial Solutions segment, received $1.3M in orders for advanced satellite modems, WAN optimization and redundancy switches. The equipment will be utilized to support cellular LTE backhaul for a service provider in the Middle East.

09:05 EDT Beyond Identity joins Ping Identity's Technology Alliance Program - Beyond Identity announced a partnership with Ping Identity. A new addition to Ping Identity's Technology Alliance Program, Beyond Identity is the first passwordless authentication vendor to deliver full device security posture information to Ping Identity's leading single sign-on solution, PingFederate. This seamless integration enables enterprises to make adaptive, risk-based authentication decisions, strengthening their defenses while enhancing the login experience for end users and improving security by eliminating passwords. Beyond Identity has introduced a revolutionary, passwordless identity management solution. The company replaces passwords with trusted certificates, originally defined in public-key cryptography and ubiquitously deployed within TLS. This proven, secure, and scalable approach enables Beyond Identity to eliminate passwords, reduce risk for organizations, and remove friction for end users.

09:03 EDT Cinedigm to launch free, ad-supported linear channels portfolio via Plex - Cinedigm announced that the Company has partnered with Plex to stream eight of the Company's free, ad-supported channels to their US and Worldwide-based consumers. This launch helps Cinedigm reach a savvy demographic that is heavily media-focused and not currently serviced by key streaming platforms. This launch also dramatically expands Cinedigm's international footprint by reaching a new set of international consumers with a strong interest in media. Plex, which has over 20 million registered users worldwide, is a popular platform for streaming all forms of media, including free ad-supported movies and TV shows. In the partnership with Cinedigm, Plex will now distribute Cinedigm's linear channels on an ad-supported video-on-demand basis.

09:02 EDT Philips announces publication of study on HFCWO therapy using InCourage System - Royal Philips announced the publication of a peer-reviewed, retrospective outcomes study demonstrating that, in the first year of use, high frequency chest wall oscillation therapy using the Philips InCourage System reduced the rate of chronic respiratory patient hospitalization by more than 50 percent. According to the study, antibiotic use also decreased significantly. The study examined data from a registry of adult bronchiectasis patients' self-reported outcomes collected by RespirTech, a Philips company. This data repository is now the largest bronchiectasis research registry in the world. According to the American Lung Association, nearly 37 million U.S. adults live with a chronic respiratory disease, including cystic fibrosis, chronic obstructive pulmonary disease, and bronchiectasis. Exacerbations of these chronic respiratory diseases can be a major source of costs for healthcare systems and insurers, as hospitalizations and readmissions result in billions of dollars of additional healthcare costs each year. Such exacerbations have a negative impact on quality of life, as patients experiencing numerous episodes report symptoms such as low energy, shortness of breath, and excess mucus production. This study observed chronic respiratory patients receiving HFCWO therapy, an airway clearance technique that uses a fitted vest to apply external chest wall oscillations in an attempt to combat these issues. The study, "Real-life experience with high-frequency chest wall oscillation vest therapy in adults with non-cystic fibrosis bronchiectasis", found that initiating airway clearance with non-invasive HFCWO therapy is associated with keeping patients out of the hospital, reducing their need for medications, and improving quality of life. It is the largest study of airway clearance use for bronchiectasis to date. After monitoring 2,596 patients using Philips InCourage System, the study concluded that in the first year of vest use, the rate of hospitalization dropped 54.5%, self-reported ability to clear lungs improved from 13.9% to 76.6%, and antibiotic use dropped from 57.7% to 29.9%. As an added benefit beyond the results of the study, the Philips InCourage System is uniquely supported by patient-centric services designed to optimize product use, improve patient-provider communication, and encourage therapy adherence.

08:53 EDT American Airlines says 'we're happy with the fleet we have' - American Airlines management said "the fleet we have is the right size for the demand."

08:47 EDT ElectraMeccanica announces EV retail location in Portland, Oregon - ElectraMeccanica Vehicles Corp. announced its latest SOLO EV retail location in suburban Portland, Oregon's Washington Square Mall. The upcoming September 1st opening will mark the Company's second retail outpost at a Macerich-owned property following its debut at Scottsdale, Arizona's Fashion Square in June. In the first few weeks of operation, the SOLO has generated strong visibility from both word-of-mouth and considerable foot traffic.

08:44 EDT Twitter says small business a 'huge opportunity' for the platform

08:42 EDT Westport secures $10M credit facility from Export Development Canada - Westport Fuel Systems announced that they have closed a $10M term credit facility from Export Development Canada to bolster liquidity during the COVID-19 pandemic. The credit facility from EDC enables the Company to make periodic requests for advances for a period of nine months from the date of the Amended and Restated Loan Agreement and has a final maturity date twelve months from the date of the Agreement. The facility's interest rate is US Prime + 3.00% per annum on drawn amounts and has no prepayment penalty or standby charge. On March 25, 2020, the Company, in partnership with EDC, announced that it amended their existing term loan to defer 2020 principal payments of $6M and to extend the loan until September 30, 2022.

08:42 EDT AT&T: 5G mobile service available nationwide as of today

08:40 EDT American Airlines says 'we know we'll be a smaller airline going forward'

08:40 EDT Corcept Therapeutics completes enrollment in relacorilant/nab-paclitaxel trial - Corcept Therapeutics announced the completion of enrollment in its controlled, Phase 2 trial of relacorilant combined with nab-paclitaxel in patients with metastatic, platinum-resistant ovarian cancer. The trial has enrolled 177 patients at 28 sites in the United States, Canada and Europe. Participants were randomly assigned to receive either relacorilant in combination with nab-paclitaxel or nab-paclitaxel alone. The trial's primary endpoint is progression free survival, with secondary endpoints including objective response rate and duration of objective response.

08:39 EDT American Airlines says goal to be cash positive in FY21 - Comments taken from Q2 earnings conference call.

08:38 EDT AT&T 'committed' to dividend

08:35 EDT Foot Locker announces new senior management structure - Foot Locker announced a new organizational structure. Andy Gray has been promoted to the new role of Executive VP and Chief Commercial Office; Gray previously served as Chief Merchandising Officer for North America, as well as the General Manager of Foot Locker U.S. Frank Bracken has been appointed as new Executive VP and CEO of North America. Bracken previously served as Senior VP, General Manager, Foot Locker and Kids Foot Locker U.S., as well as VP, General Manager, Foot Locker Canada. Scott Martin has been named as new CEO of Asia Pacific, in addition to his responsibilities as the Chief Strategy & Development Officer. These members of the Foot Locker leadership team will be retiring: Lew Kimble, CEO, Asia Pacific will retire at the end of August; Jake Jacobs, CEO, North America, will retire effective at the end of August. The senior management promotions and organizational changes being implemented aim to: connect the company's customer-facing functions globally; strengthen community connectivity capability; streamline the company's operational and expense structure; and continue building future capability.

08:34 EDT Monaker Group to acquire Hotplay, 33% interest in Axion Ventures - Monaker Group announced it has entered into binding definitive share exchange agreements relating to the proposed acquisition of 100% of the outstanding shares of HotPlay Enterprise from the shareholders of such entity for a majority stake in the Company. The Company will also acquire shares and certain loans of Axion Ventures from related shareholders of HotPlay who also control a minority interest in Axion and have provided a majority of the credit to Axion. Under the terms of the Agreements, upon the closing thereof, the shareholders of HotPlay will become the majority shareholders of the Company following the closings, with the HotPlay shareholders receiving 67.8% of the Company's post-closing capitalization as a result of the merger of HotPlay, which shall include at least $15M in cash available for the expansion the Company. Current stockholders of the Company will hold 17.4% of the Company's post-closing capitalization of the Company unless more than $15M is provided by HotPlay pursuant to the merger. Upon the closing, the Company and HotPlay would become a combined public entity under Monaker Group, with HotPlay's shareholders, at the end of the process, becoming the Company's largest stakeholders with a controlling interest in the combined public company and the transaction resulting in a change of control of the Company. A condition to closing the Agreements is that HotPlay contributes $15M in funding at closing, a portion of which is planned to be available to the Company to be used to enhance its Alternative Lodging Rental and NextTrip platforms, as well as fund its marketing budgets, retire existing debts, and provide excess capital for use in the event of a more prolonged travel business recovery due to Covid-19. HotPlay is a in-game advertising company, which shall leverage proprietary Artificial Intelligence and harmonizing engagement between businesses and consumers. Upon closing, the Company shall become a significant stakeholder in of Axion Ventures Inc. which is a majority owner of Axion Games Limited and True Axion Games in Thailand. Axion Games, founded in 2006 and formerly known as Epic Games China, is an independent AAA game development studio and game publisher. Axion's strength includes high production value - top-notch quality content developed by a team with a history of deep involvement in many record-breaking games including several famous titles from Epic Games. Axion's latest large-scale PC title, Rising Fire, was a Tencent's headline shooting game in 2018. Axion Games' expertise and capabilities are extremely well-regarded among global industry players, and it has played a crucial role in developing content for multiple AAA titles all over the world. Axion Ventures Inc. is in the process of releasing several games in 2020 and 2021 through established publishing relationships with major publishers globally. Through the acquisitions, the Company plans to transition from a solely travel based company, to a travel company with gaming and in-game advertising company, with the goal of engaging consumers through digital advertising, gaming and travel platforms. We also contemplate these acquisitions enhancing the Monaker Booking Engine and NextTrip and Maupintour travel offerings through increased technology capabilities - including the adoption of artificial intelligence and blockchain - and access to additional technology talent in those areas to further revolutionize the Monaker travel brands. The parties have executed definitive agreements with a closing expected in the third quarter or early fourth quarter of 2020. Included in the HotPlay Agreement is the commitment by certain shareholders of HotPlay to loan Monaker Group $1,000,000 on or before August 31, 2020 and to continue making $1,000,000 loans on September 30, 2020, and each month thereafter through closing. The closing of the transactions contemplated by the Agreements is subject to various closing conditions, consents and requirements. No assurances can be made that the parties will successfully consummate the transactions contemplated by the Agreements on the terms or timeframe currently contemplated, or at all. The transaction and combination are subject to regulatory review and shareholder approvals, as well as other customary conditions.

08:25 EDT CoreLogic up 1.3% after reporting Q2 results, guidance, dividend increase - Shares are u[ 1.3% in pre-market trading to $69.25 per share.

08:24 EDT Twitter expects expenses to grow 10% or more in Q3 - Says getting better at hiring employees. Says has "really high bar" to overcome before asking people to pay for Twitter. Says number one priority is making sure company road map is strong. Comments taken from Q2 earnings conference call.

08:22 EDT Goldman Sachs Renewable Power acquires 123MW project from First Solar - First Solar (FSLR) announced that Goldman Sachs Renewable Power, a private company managed by the Renewable Power Group of Goldman Sachs Asset Management (GS), acquired the 123-megawatt AC American Kings Solar project in a transaction that closed at the end of June 2020. Located in Kings County, California, the project is backed by a 15-year Power Purchase Agreement with Southern California Edison and is scheduled to be commissioned in the fourth quarter of 2020. The facility will be powered by First Solar's Series 6 photovoltaic modules, designed and developed at the Company's research and development centers in California and Ohio.

08:19 EDT InspireMD gains registration clearance of CGuard EPS in Brazil - InspireMD announced it has obtained registration from the Brazilian registration authority, Agencia Nacional de Vigilancia Sanitaria, for its CGuard MicroNet- covered stent, clearing it for sale and distribution in Brazil.

08:18 EDT AT&T: Q2 WarnerMedia operations 'significantly impacted' by COVID - The company says HBO Max is tracking towards initial targets for subscribers, activations and revenues, with total HBO Max/HBO subscribers of about 36M. Comments taken from Q2 earnings conference call presentation slides.

08:15 EDT Dynavax, Medigen collaborate to develop adjuvanted COVID-19 vaccine candidate - Dynavax Technologies and Medigen Vaccine Biologics announced their collaboration to develop an adjuvanted vaccine candidate to protect against COVID-19. The collaboration is evaluating the combination of MVC's stable prefusion form of the SARS-CoV2 recombinant spike protein with Dynavax's advanced adjuvant CpG 1018, the adjuvant contained in Dynavax's U.S. FDA-approved adult hepatitis B vaccine MVC's subunit vaccine is based on the stable prefusion form of the SARS-CoV2 recombinant spike protein with global technology license from the U.S Vaccine Research Center at National Institutes of Health. Preclinical studies demonstrated that the vaccine candidate adjuvanted with CpG 1018 generated strong immune responses in experimental animals.

08:14 EDT Ampio begins patient enrollment in Ampion COVID-19 program - Ampio announced that patients are being dosed in a Phase 1 U.S, based clinical trial evaluating a 5-day intravenous Ampion treatment for COVID-19 patients requiring supplemental oxygen. The primary endpoint for this randomized, controlled study will evaluate the safety and tolerability of IV Ampion treatment in adult COVID-19 patients requiring oxygen supplementation. Ampion is an immunomodulatory anti-inflammatory agent that has been shown to inhibit the expression of proinflammatory cytokine believed to play a key role in the overactive inflammatory response, or cytokine storm, in the lungs of COVID-19 patients who require supplemental oxygen. Ampion may be effective in interrupting the inflammatory cascade associated with COVID-19 and improve the clinical course and outcome of patients.

08:14 EDT Bionano Genomics announces publication of study on genome imaging technology - Bionano Genomics announced that a study published in the journal Nature used Bionano's genome imaging technology to establish one of the largest and most structurally accurate sets of genome data for a cohort of affected children and their parents in a study of the most common genomic deletion syndrome, called 22q11.2 Deletion Syndrome or DiGeorge Syndrome. The 22q11.2 Deletion Syndrome is a congenital malformation disorder and the most frequent microdeletion syndrome in humans, with a prevalence of about one in every 3,000 live births and one in every 1,000 pregnancies. Affected patients suffer from such medical issues as congenital cardiac defects, immune deficiencies, speech/language defects, intellectual disabilities, and an increased risk for developing schizophrenia in adolescence or adulthood. The disorder is caused by a de novo deletion of about 3 million base pairs in chromosome 22q11.2, which means that it is not inherited from the parents, but instead occurs uniquely in each individual patient when the large repeats rearrange during cell division. The region of the chromosome where the deletion occurs is highly complex and is known to have many very large duplications. Obtaining structurally accurate pictures of the genomes of patients with DiGeorge Syndrome and their parents is critical to developing a detailed understanding how these mutations form and whether the genomes of the parents harbor any characteristics that would predispose the affected embryo to manifesting the disease causing variant. Despite considerable efforts to date, sequencing technologies have been unable to correctly assemble the 22q11.2 region due to its size, regional complexity, and diversity. In contrast, this paper illustrates that Bionano genome imaging technology allows the characterization of the complex repetitive areas with its unique ability to image extremely long, single DNA molecules. The team, led by scientists from the Children's Hospital of Philadelphia with contributions from Drexel University and Albert Einstein College of Medicine, analyzed genome structure and variation in 88 individuals from 30 patient families and identified specific genomic arrangements that are the most common in patients and their parents. While no specific patterns could be traced to the parents of affected children, a specific orientation of a ~160,000 base pair sequence module that combined with a ~64,000 inversion was the most frequent disease-causing locus observed in patients. This degree of certainty regarding the presence or absence of any specific patterns in parents, coupled with the findings of common structural variations among affected children is an example of the kind of novel information that only Bionano's Saphyr system provides.

08:11 EDT VistaGen Therapeutics reports 'positive' meeting with FDA regarding PH94B study - VistaGen Therapeutics announced the results of a positive meeting with the U.S. FDA regarding Phase 3 development of PH94B for the acute treatment of anxiety in adult patients with social anxiety disorder. VistaGen and the FDA reached consensus on key aspects of a unique initial pivotal Phase 3 clinical trial of PH94B involving a single-event, laboratory-simulated public speaking challenge in adult patients with SAD. "Much like a rescue inhaler is used in an asthma attack or a migraine drug is used in an acute migraine episode, PH94B is a potential fit for the acute treatment of anxiety symptoms in anticipation of an often predictable, anxiety-provoking situation for individuals suffering from SAD," said Shawn Singh, CEO of VistaGen. "Notably, the FDA concurred that our initial pivotal Phase 3 efficacy study may be conducted in a manner substantially similar to the highly statistically significant Phase 2 study of PH94B, which study involved a single event, laboratory-simulated public speaking challenge in adult patients with SAD. The FDA's specific guidance will enable us to simplify the process of assessing efficacy among SAD patients in our Phase 3 studies and contribute to significant time- and cost-efficiency in the clinic," Singh added.

08:09 EDT MCSI Inc, Microsoft form strategic alliance - MSCI Inc (MSCI) and Microsoft (MSFT) have formed a strategic alliance to accelerate innovation among the global investment industry. By bringing together the power of Microsoft's cloud and AI technologies with MSCI's global reach through its portfolio of investment decision support tools, the companies will unlock new innovations for the industry and enhance MSCI's client experience, including asset managers, asset owners, hedge funds and banks. Initially, the companies will focus on migrating MSCI's existing products, data and services onto Azure as its preferred cloud platform in stages, starting with its Index and Analytics solutions followed by its Environmental, Social and Governance products and ratings; Real Estate data and solutions; and MSCI's risk analytics platform Beon. In addition, MSCI and Microsoft will explore collaboration opportunities to drive climate risk and ESG solutions, leveraging Microsoft's Azure and Power Platform and MSCI's ESG and climate solutions capabilities.

08:08 EDT SM Energy CEO Javan Ottoson retiring before year-end - SM Energy CEO Javan Ottoson has advised the board of his intention to retire before the end of 2020. Ottoson will remain a member of the Board of Directors until the next annual meeting in May 2021. Herbert Vogel has been appointed to the position of President of the company. Vogel was appointed Executive VP and COO of the company in June 2019, having previously served as Executive VP-Operations of the company since August 2014. Vogel joined the company in March 2012 after holding leadership positions with ARCO and BP. The board of directors intends to promote Vogel to CEO effective upon Ottoson's departure. Ottoson was appointed CEO in February 2015.

08:06 EDT J.Jill extends forbearance period to complete negotiations - J.Jill announced that the company and its lenders have further amended the company's existing forbearance agreements, dated as of June 15 to extend the forbearance period, providing additional time for J.Jill and its lenders to complete negotiations. The forbearance period has been extended until July 30. As previously announced, the company entered into the two existing forbearance agreements, as amended on July 15 with the lenders under its ABL and term loan credit facilities. The existing forbearance agreements are described in a current report on Form 8-K filed by the company with the SEC on June 15. Under the amendments to the existing forbearance agreements, the respective lenders have agreed not to exercise any rights and remedies until July 30 so long as, among other things, the company otherwise remains in compliance with its credit facilities and complies with the terms of the forbearance agreements.

08:01 EDT Union Pacific reports Q2 operating ratio 61%, up 1.4 points - Operating revenue of $4.2 billion was down 24 percent in second quarter 2020, compared to second quarter 2019. Second quarter business volumes, as measured by total revenue carloads, decreased 20 percent compared to 2019. Volumes for all three business teams - bulk, industrial, and premium - declined in the quarter due to the deteriorating economic conditions brought on by the COVID-19 pandemic. In addition: Quarterly freight revenue declined 24 percent, compared to second quarter 2019, as core pricing gains were offset by lower volumes, negative business mix and decreased fuel surcharge revenue. Union Pacific's 61 percent operating ratio increased 1.4 points compared to second quarter 2019.

07:46 EDT CoreLogic commits to $1B share repurchase by end of FY22, at least $500M in FY20 - CoreLogic said in its Q2 earnings release, "The Company expects to repurchase at least $500 million of shares in 2020, $300 million of shares in 2021 and the remaining $200 million of shares in 2022 to complete its current $1 billion authorization. The $1 billion repurchase program is expected to reduce current share count by more than 15% by 2022. Our share repurchase program is expected to be more than 10% accretive to projected 2021 Adjusted EPS."

07:44 EDT CoreLogic raises quarterly cash dividend to 33c per share from 22c per share - CoreLogic announced that its board has declared a 50% increase in the company's quarterly cash dividend to common shareholders. CoreLogic said in a release, "CoreLogic will pay a cash dividend of 33c per share of common stock on September 15, to shareholders of record on the close of business September 1. The Company most recently paid a dividend of 22c per share of common stock on June 15."

07:42 EDT Verrica Pharmaceuticals appoints Lawrence Eichenfield to board of directors - Verrica Pharmaceuticals announced that Dr. Lawrence Eichenfield, Chief of Pediatric and Adolescent Dermatology, Rady Children's Hospital, San Diego, CA, is joining the Company's Board of Directors, effective August 1, 2020. Dr. Eichenfield will replace Dr. Gary Goldenberg who will be stepping down from the Board to assume the role of Verrica's CMO.

07:41 EDT Kimberly-Clark CEO says 'our underlying business momentum is good' - Chairman and CEO Mike Hsu said, "We continue to focus on protecting the health and safety of our employees and consumers and operating our supply chain with excellence to meet the needs of our consumers and customers during this unprecedented time period. I am extremely proud of how our teams are managing these near-term operating priorities. At the same time, our underlying business momentum is good, our market share positions are healthy overall and we are delivering excellent financial results." Hsu continued, "We achieved very good organic sales growth and all-time record adjusted earnings and cash flow in the second quarter. We also delivered significant cost savings, helping us achieve strong margin improvements. While the environment remains uncertain, visibility has improved from three months ago and we are restoring forward-looking guidance. We have increased our 2020 outlook for organic sales and earnings compared to our original plan. We are also further increasing our growth investments to position us for future success. We continue to execute well, operate our business with a balanced approach and remain very optimistic about our opportunities to create shareholder value."

07:40 EDT Verrica Pharmaceuticals appoints Gary Goldenberg as CMO - Verrica Pharmaceuticals announced key appointments to its drug development team. Current Board of Directors member Dr. Gary Goldenberg, a renowned thought leader in the field of dermatology, is stepping down to become Verrica's CMO, effective August 1, 2020. Verrica announced separately that Dr. Lawrence Eichenfield is joining the Board on August 1, 2020, replacing Dr. Goldenberg. In addition, Dr. Brad Catalone is being appointed to the newly created position of Head of Drug Development on that same date. As CMO, Dr. Goldenberg will oversee medical affairs and all aspects of clinical development and strategy related to Verrica's product candidates, as well as provide scientific guidance for potential business development initiatives. He joined Verrica's Board in May 2018. He is an Assistant Professor of Dermatology and Pathology at The Icahn Sinai School of Medicine at Mount Sinai Hospital in New York City. Prior, he was Director of Dermatopathology at University of Maryland School of Medicine. As Head of Drug Development, Dr. Brad Catalone will oversee all non-clinical aspects of drug development for Verrica's product candidates, including CMC and Regulatory Affairs. Prior to joining Verrica, he served as Chief Science Officer, leading Scientific and Regulatory Device Strategy for the TSO3 Corporation.

07:36 EDT Alliance Data reports June net charge offs 7.4% vs. 8.0% last month - Reports June delinquency ratio 4.3% vs. 4.8% last month.

07:25 EDT Aravive completes Phase 1b trial of AVB-500 in PROC - Aravive announced the completion of the Phase 1b trial of its AVB-500 drug candidate in platinum resistant ovarian cancer and selection of the recommended Phase 2 dose. The safety of AVB-500 has been studied in 84 subjects, including 31 healthy volunteers in a Phase 1a trial and 53 patients with PROC in a Phase 1b trial. The primary objective of the PROC trial was to assess safety of AVB-500 in combination with paclitaxel or pegylated liposomal doxorubicin. Secondary endpoints included objective response rate, CA-125 response, clinical benefit rate, progression free survival, overall survival, pharmacokinetic profile, GAS6 serum levels, and anti-drug antibody titers. Safety Data: Analysis of all safety data to date demonstrates that AVB-500 has been generally well-tolerated with no dose-limiting toxicities or unexpected safety signals. There have been no AVB-500-related SAEs reported to date. There were two types of adverse events that were considered related to AVB-500, as determined by an independent medical monitor: infusion reactions and fatigue. A premedication regimen was designed and implemented during the trial to manage potential infusion reactions. Pharmacokinetics: Prior data analysis of 31 patients from the 10 mg/kg cohort showed that blood trough levels of AVB-500 demonstrated statistically significant correlation with clinical activity, as patients who achieved minimal efficacious concentration greater than13.8 mg/L demonstrated a greater likelihood of response and prolonged PFS. Updated modeling using actual data from all enrolled patients demonstrated that 59%, 84%, and 93% of patients achieved MEC at doses of 10 mg/kg, 15 mg/kg, and 20 mg/kg, respectively. Furthermore, at 20 mg/kg, a large percentage of subjects is projected to have trough levels greater than 4 times the MEC. These data suggest that at 15 mg/kg, the pharmacokinetics of AVB-500 start to plateau and support the choice of 15 mg/kg as RP2D for AVB-500. Preliminary Efficacy: While the Phase 1b trial was a safety trial and not powered to demonstrate efficacy, the investigator-assessed best response to AVB-500 across all cohorts supports promising clinical activity: 10 mg/kg cohort, 37 out of 40 patients evaluable: 31% ORR among those treated with AVB-500 in combination with PAC, with 1 complete response. Patients given AVB-500 plus PAC who achieved MEC of AVB-500 demonstrated improved ORR of 50%, with 1 CR. The PFS among those who achieved MEC of AVB-500 was 7.5 months versus 2.28 months with those below MEC. 21.6% ORR in all evaluable patients, regardless of their MEC or use of PAC or PLD. All responses have been confirmed. 15 mg/kg cohort, 5 out of 6 patients evaluable: All 5 patients in this cohort experienced clinical benefit, with 1 CR, 2 partial responses, and 2 stable disease. All responses have been confirmed.20 mg/kg cohort, 7 out of 7 patients evaluable: Of the 7 patients in this cohort, there was 1 PR, 1 SD, and 5 with progressive disease. A post-hoc analysis of tumor expression showed that 4 patients whose best response was PD did not express GAS6 and/or had low amounts of AXL on immunohistopathology of their tumors. While they were enrolled per protocol in the Phase 1b trial, these patients do not appear to be representative of the eventual AVB-500 target population, as they are mostly rare subtypes of PROC and such patients based on their clinical characteristics will not be eligible for the planned Phase 2/3 trial. Other notable findings: AVB-500 plus PAC appeared to perform better than AVB-500 plus PLD. Across all cohorts, AVB-500 plus PAC data show an ORR of 35% compared to ORR of 15% in AVB-500 plus PLD. AVB-500 plus chemo appeared to perform better in patients without previous exposure to bevacizumab. In a subgroup analysis of patients who had not been previously exposed to bevacizumab in their prior lines of therapy, AVB-500 yielded an ORR of 60% when combined with PAC and an ORR of 19% when combined with PLD. For reference, control arms of the third-party AURELIA Trial of bevacizumab showed ORR of 30.2% with PAC alone and 7.8% with PLD alone. Serum levels of soluble AXL/GAS6 ratio seemed to correlate with response to AVB-500. In the entire Phase 1b cohort, patients with a high sAXL/GAS6 ratio had 30% ORR versus 0% ORR in patients with a low sAXL/GAS6 ratio. In the PAC cohort, patients with a high sAXL/GAS6 ratio had 43% ORR versus 0% ORR in patients with a low sAXL/GAS6 ratio. Notably, patients with high sAXL/GAS6 ratio who had not previously received bevacizumab achieved ORR of 71%. Historically, high sAXL has been associated with a poor prognosis; however, AVB-500 plus PAC or PLD appeared correlated with improved clinical outcomes in this population. Use of serum biomarkers such as sAXL/GAS6 ratio as potential stratification biomarker will be explored in future clinical trials.

07:20 EDT AutoNation to build at least 20 additional stores over the next three years - AutoNation is prioritizing its investment in capital expenditures towards opportunities with the greatest return potential. The company announced the planned expansion of its AutoNation USA stand-alone pre-owned vehicle sales and service centers. AutoNation plans to build at least 20 additional stores over the next three years and will provide details of the roll-out schedule in the third quarter of 2020. The stores will allow the company to continue providing customers a peerless experience with its 'One Price' model and its customer-centric selling processes. This expansion will also allow the company to leverage its brand, scale, 'We'll Buy Your Car' sourcing initiative, and digital capabilities to capture a larger portion of the used vehicle market.

07:20 EDT Incyte REACH3 study meets primary, secondary endpoints - Incyte announced that the Phase 3 REACH3 study evaluating ruxolitinib, or Jakafi, in patients with moderate or severe steroid-refractory or steroid dependent chronic graft-versus-host disease, or GVHD, met its primary endpoint of superior overall response rate, or ORR, at Week 24 compared to best available therapy. In addition, the study also met both key secondary endpoints, significantly improving failure-free survival and patient-reported symptoms assessed by the modified Lee chronic GVHD symptom scale. These topline results build on previously-reported data from the REACH1 and REACH2 trials, which demonstrated that Jakafi improved outcomes across a range of efficacy measures in patients with steroid-refractory acute GVHD. Data from the REACH3 study are expected to be presented at an upcoming major medical congress and will also be prepared for submission to the FDA seeking approval in patients with steroid-refractory or steroid dependent GVHD.

07:19 EDT AutoNation reports Q2 same-store new vehicle gross profit per vehicle up 22% - Same-store second quarter 2020 revenue totaled $4.5 billion, a decrease of 14% compared to the same period a year ago. Same-store second quarter 2020 gross profit totaled $795 million, a decrease of 9% compared to the year-ago period. Same-store new vehicle gross profit per vehicle retailed was $2,194, up $389 or 22% compared to the year-ago period. Same-store used vehicle gross profit per vehicle retailed was $1,801, up $338 or 23% compared to the year-ago-period. Same-store Customer Financial Services gross profit per vehicle retailed was an all-time record $2,172, up $240 or 12% compared to the year-ago period.

07:17 EDT American Airlines sees FY20 OpEx, CapEx reductions over $15B - American Airlines said in its Q2 release, "American continues to take steps to reduce costs and preserve cash. The airline estimates that it will reduce its 2020 total operating and capital expenditures by more than $15 billion, achieved primarily through cost savings resulting from less flying. In addition, the company implemented the following cost actions: Retired four aircraft types, consisting of 20 Embraer 190s, 34 Boeing 757s, 17 Boeing 767s and nine Airbus A330-300s, along with a number of older regional aircraft. In addition, the company placed its Airbus A330-200s and certain older Boeing 737s into a temporary storage program. In aggregate, these changes remove more than 150 aircraft from the fleet and bring forward the cost savings and efficiencies associated with operating fewer aircraft types. Introduced additional voluntary leave of absence and early-out programs to help right-size its frontline team. American anticipates having over 20,000 more team members on payroll than needed to operate its fall schedule. In total, more than 41,000 team members have opted for an early retirement, a reduced work schedule or a partially paid leave. Consistent with the CARES Act, reduced its management and support staff team, including officers, by approximately 5,100 positions, or 30%. Announced changes to its international schedule for 2021. American expects its summer 2021 long-haul international capacity to be down 25% versus 2019 and also plans to exit 19 international routes from six hubs. These changes will allow the airline to reset its international network for future growth as demand returns. Reduced non-aircraft capital expense by $700 million in 2020 and another $300 million in 2021 through reductions in fleet modification work, the elimination of all new ground service equipment purchases, and pausing all noncritical facility investments and IT projects."

07:16 EDT Ovid Therapeutics, UConn enter collaboration for therapy for Angelman Syndrome - Ovid Therapeutics and the University of Connecticut School of Medicine announced a research collaboration and license agreement to accelerate the development of a next-generation short hairpin RNA-based therapeutic for Angelman syndrome and potentially other indications. The most common cause of Angelman syndrome is the loss of function of the gene that codes for ubiquitin protein ligase E3A, which plays a critical role in nerve cell communication, resulting in impaired tonic inhibition. An shRNA-based therapeutic may address this underlying genetic cause of Angelman syndrome by reducing the expression of UBE3A-antisense, potentially restoring the function of UBE3A. This genetic approach may be used in combination with OV101, Ovid's novel, small-molecule delta-selective GABAA receptor agonist, to restore tonic inhibition and address the underlying symptomology of individuals with Angelman syndrome. OV101 is currently being evaluated in the pivotal Phase 3 NEPTUNE trial in Angelman syndrome, with topline results expected in the fourth quarter of 2020. Under the terms of the research collaboration, Ovid will work closely with UConn's Stormy J. Chamberlain, Ph.D., and gain exclusive access to identified genetic sequences for a potential shRNA-based therapeutic. Ovid plans to validate select sequences and leverage its translational medicine capabilities and drug development expertise in Angelman syndrome to advance an shRNA-based therapeutic into clinical studies. Dr. Chamberlain is a recognized leader in the field of Angelman syndrome and UBE3A research and currently serves as the John and Donna Krenicki Associate Professor of Genomics and Personalized Healthcare in UConn's Genetics and Genome Sciences Department. In addition, Dr. Chamberlain chairs the Angelman Syndrome Foundation Scientific Advisory Committee and is a member of the Dup15q Alliance Scientific Advisory Board. Ovid will also work closely with UConn's Noelle Germain, Ph.D., Assistant Professor of Genetics and Genome Sciences on these efforts.

07:15 EDT Atlas Corp.'s Seaspan acquires two containerships on long-term charter - Atlas Corp.'s wholly owned subsidiary Seaspan has agreed to the purchase of two containerships for approximately $146M in cash. The purchase of the Acquired Vessels is expected to be financed from additional borrowings as well as cash on hand. Seaspan expects to take delivery of the Acquired Vessels in Q3, subject to customary closing conditions. The transaction is expected to be immediately accretive to Atlas' EPS and increase long-term contracted revenue by over $150M while maintaining a strong net debt to equity ratio of approximately 1.2x1. The Acquired Vessels are comprised of two 13,000 TEU vessels built in 2010 and 2011, both of which will operate under long-term charters with a global liner. Pro forma for this acquisition, Seaspan's global fleet will consist of 125 vessels and approximately 1,049,000 TEU, with total contracted revenue of approximately $4.5B and a weighted average remaining lease period of approximately 4 years.

07:13 EDT AT&T says AT&T TV gains help offset video losses - AT&T said in its Q2 earnings release, "AT&T TV gains help offset video losses; video subscribers impacted by COVID-19 and marketing focus on high-value customer base: 17.7 million premium TV subscribers - 886,000 net loss; 91,000 attributed to Keep America Connected programs."

07:12 EDT AT&T reports Q2 postpaid phone churn 0.84% - AT&T said in its Q2 earnings release, "Service revenues down 1.1% due to decline in international roaming; equipment revenues up year over year. Postpaid phone churn of 0.84%, a 2-basis point improvement year over year and postpaid phone net losses of 151,000. Total phones stable (both postpaid and prepaid). 135,000 prepaid phone net adds; lowest prepaid churn ever."

07:11 EDT Genocea working with FDA to provide additional information on GEN-011 - Hosted a virtual KOL symposium introducing GEN-011 - a neoantigen cell therapy that uses peripheral blood T cells and is powered by ATLAS to target the right tumor neoantigens. The event featured commentary from Dr. Eric Tran, Assistant Member at the Earle A. Chiles Research Institute in the Providence Cancer Institute and members of the Genocea management team on GEN-011 as a new category of T cell therapy designed to improve on current limitations of TIL therapy. Filed an Investigational New Drug application to initiate a Phase 1/2a clinical study of GEN-011 evaluating patient safety, T cell proliferation and persistence, and clinical activity. The trial expects to enroll up to 24 patients and will assess GEN-011 in a range of tumor types, with a focus on patients who have failed standard-of-care checkpoint inhibitor therapy. The Company has received verbal notification from the U.S. Food and Drug Administration that the agency has completed its review of the Company's IND for GEN-011. In this verbal feedback, the FDA informed Genocea that it is placing the IND on clinical hold until it receives additional information pertaining to certain third-party reagents used in the GEN-011 manufacturing process. These reagents are not a component of the final cell therapy product. The Company expects to receive official written communication from the FDA regarding the hold and the FDA's position in the near future and plans to work with the FDA to resolve their questions as quickly as possible.

07:10 EDT Genocea to present GEN-009 initial clinical data on July 30 - On July 30, 2020, the Company plans to present initial clinical data on the first 5 patients from Part B with Dr. Maura L. Gillison, MD, PhD, Professor of Medicine, Department of Thoracic/Head and Neck Medical Oncology at MD Anderson Cancer Center. Part B of the study is exploring the combination of GEN-009 and immune checkpoint inhibitor-based regimens in advanced solid tumors. Presented long-term follow-up data from Part A of the ongoing Phase 1/2a clinical trial at ASCO20 Virtual Scientific Program that evaluates eight participants for duration of immune responses and clinical outcomes. Seven out of eight patients treated on Part A of the study are without disease progression at one-year median follow-up. ATLAS-identified neoantigens generate broad, sustained T cell responses starting after only 4 weeks and lasting for up to 1 year after the last vaccination.

07:09 EDT Genocea expects cash, cash equivalents to support operations to mid-2022 - Genocea expects that its existing cash and cash equivalents inclusive of the private placement proceeds are sufficient to support its operations to mid-2022. "We continue to advance our clinical programs for patients living with cancer," said Chip Clark, President and Chief Executive Officer, Genocea. "I am pleased by our ability to remain on track during these uncertain times, meeting our highest priority milestones and working to deliver on the promise of developing effective immunotherapies through our unique and differentiated approach."

07:07 EDT American Airlines sees Q3 system capacity down 60% y-o-y - American Airlines said in its Q2 earnings release, "Passenger demand and load factors have improved since bottoming out in April, but continue to be significantly below 2019 levels. While May and June revenue trends were encouraging, demand has weakened somewhat during July as COVID-19 cases have increased and new travel restrictions have been put into place. The company will continue to match its forward capacity with observed bookings trends and presently expects its third quarter system capacity to be down approximately 60% year over year."

07:06 EDT IHS Markit and Cassini Systems partnering for margin estimate automation - IHS Markit and Cassini Systems, a provider of pre- and post-trade margin and collateral analytics for derivatives markets, are partnering to automate the calculation of margin estimates within thinkFolio. The collaboration will, for the first time, provide advanced pre-trade analytics for over-the-counter and exchange-traded derivatives directly within thinkFolio from IHS Markit, a multi-asset class investment management platform. Going forward, portfolio managers using thinkFolio can access the Cassini platform to calculate and choose the most cost-effective option while dealers are able to view the overall cost, as well as any risk, when executing trades.

07:05 EDT Twitter CFO says Q2 revenue reflects moderate ad recovery compared to end March - "Revenue was $683 million in Q2, down 19% year over year, reflecting moderate recovery in advertising demand relative to the last three weeks of March. Despite the pandemic, brands have found innovative ways to join the conversation on Twitter to connect with their customers. We have completed our ad server rebuild and are making progress accelerating our performance ads roadmap. With a larger audience and progress in ads, we are even better positioned to deliver for advertisers when the live events and product launches that bring many people and advertisers to Twitter return to our lives," said Ned Segal, Twitter's CFO.

07:00 EDT BJ's Wholesale appoints Monica Schwartz as Chief Digital Officer - BJ's Wholesale announced Monica Schwartz will join the company as Senior VP, Chief Digital Officer, effective August 3. Schwartz will be responsible for the strategic leadership of the company's digital business, and will report directly to BJ's President and CEO, Lee Delaney. Most recently, Schwartz was VP, Online Merchandising at Home Depot. Prior to Home Depot, Schwartz held various leadership positions at Nine West Holdings, Stuart Weitzman, David Yurman and eBay.

06:53 EDT Quest Diagnostics up 1% after reporting Q2 results - Shares are up 1% in pre-market trading to $131 per share.

06:49 EDT Hershey sees FX a 70 bps headwind to FY20 net revenue - The company now expects foreign currency exchange to be a 70 basis point headwind on full year net revenue based on current exchange rates. FY20 revenue consensus $7.98B.

06:45 EDT Southwest up 1.5% after reporting Q2 results - Shares are up 1.5%, in pre-market trading to $33.80.

06:41 EDT Southwest reports Q2 ASMs down 55.3% - Southwest said in its Q2 earnings release, "The Company's second quarter 2020 ASMs decreased 55.3 percent, year-over-year, due to the capacity reductions in light of the significant decrease in passenger demand and bookings as a result of the pandemic. Earlier this week, the Company reduced its September 2020 published capacity as a result of weaker revenue and booking trends, while being mindful of capacity required to uphold its Southwest Promise to support physical-distancing by limiting the number of seats sold on each flight to allow for middle seats to remain open for Customers who are not traveling together. As a result, September 2020 capacity is currently estimated to decrease in the range of 20 to 25 percent, year-over-year, and third quarter 2020 capacity is currently estimated to decrease in the range of 20 to 30 percent, year-over-year. The Company continues to plan for multiple scenarios for its fleet and capacity given the uncertainty caused by the pandemic. Based on current demand and bookings, as well as results from voluntary separation and emergency extended time off programs, the Company currently expects to reduce its fourth quarter 2020 year-over-year capacity to better align to current demand trends and lower estimated staffing levels in fourth quarter 2020. As such, the Company's actual flown capacity may differ materially from currently published schedules."

06:38 EDT Southwest Q2 results included special item related to the $1.1B PSP benefit - Southwest said in its Q2 earnings release, "Excluding fuel and oil expense, second quarter 2020 operating expenses decreased 50.6 percent, compared with second quarter 2019. The Company's second quarter 2020 results included a special item related to the $1.1 billion benefit of PSP proceeds recognized during the quarter. The Company expects to recognize an additional $1.2 billion benefit of PSP proceeds as a third quarter 2020 special item. The Company's second quarter 2020 results also included a special item related to the costs for Employees who accepted the Company's offer in second quarter 2020 to participate in its voluntary separation program. In accordance with the accounting guidance in ASC Topic 712 (Compensation - Nonretirement Postemployment Benefits), the Company accrued a charge related to such special termination benefits of $307 million during second quarter 2020, all of which will be paid out in subsequent periods to these Employees. The Company estimates an additional charge of approximately $540 million in third quarter 2020 for the Employees who completed their election in July 2020 to participate in the voluntary separation program. The Company also estimates a charge of more than $800 million in third quarter 2020 associated with its voluntary extended emergency time off program, upon final approval of Employee elections. Approximately 16,900 Employees have elected to participate in these voluntary programs: approximately 4,400 have elected the voluntary separation program and will be leaving the Company, and approximately 12,500 have elected the voluntary extended emergency time off program. The Company estimates nearly half of cash payments related to its voluntary separation program will be made during 2020, with payments for some Pilots occurring over a period up to five years based on the terms of the program. These programs allow the Company to reduce its fixed cost structure in the near-term, while maintaining the ability to adjust to a recovery in travel demand. Also treated as a special item in the Company's second quarter 2020 results was a $222 million gain recognized in other operating expenses from sale-leaseback transactions for 10 of the Company's 737-800 aircraft and 10 of the Company's 737 MAX 8 (MAX) aircraft."

06:36 EDT Babcock & Wilcox unit awarded $30M boiler components contract - Babcock & Wilcox announced that its subsidiary, The Babcock & Wilcox Company, has been awarded a contract for approximately $30M to supply replacement boiler components for an energy production facility.

06:34 EDT Home Depot announces new goals in 2020 Responsibility Report - Home Depot announced company-wide sustainability progress in its 2020 Responsibility Report, which outlines the company's 2019 progress on its corporate responsibility strategic pillars. The report also introduces several new goals and provides an update on the company's recent response to COVID-19 and social equality issues. New goals include a commitment to produce and procure energy from 335 megawatts of renewable and alternative energy projects by 2025 - equivalent to the amount of energy it takes to power more than 90,000 homes. Additionally, the company pledged to eliminate expanded polystyrene, or EPS, foam and polyvinyl chloride, or PVC, film from its private brand packaging by 2023. As part of its existing pledge to reduce carbon dioxide emissions by 50% by 2035, The Home Depot reduced its greenhouse gas emissions by 10% in 2019, driven primarily by energy reductions and supply chain efficiencies. The company reduced its electricity consumption in U.S. stores by 383M kilowatt hours, tripling its 2018 reduction while at the same time adding three new U.S. stores to its footprint. As The Home Depot commits to produce or procure energy from 335 megawatts of renewable and alternative energy projects by 2025, the company plans to nearly double the number of stores with on-site solar panels and continue to leverage on-site fuel cells and offsite wind and solar energy. New to the report this year is the inclusion of disclosures aligned with the Sustainability Accounting Standards Board, or SASB, and the Task Force on Climate-related Financial Disclosures, or TCFD, frameworks. The company also continues to apply the Global Reporting Initiative, or GRI, Sustainability Reporting Standards as an identification and cross reference tool, which it has done for the last five years, and highlights 10 United Nations Sustainable Development Goals that align within The Home Depot's sphere of influence. In addition to these disclosure frameworks, the report includes charts on materiality touchpoints, progress on stated goals and an ESG transparency chart that highlights The Home Depot's key environmental, social and governance metrics from 2017 through 2019.

06:32 EDT PulteGroup reports Q2 net new orders down 4% to 6,522 homes

06:21 EDT Tractor Supply raises FY20 CapEx view to $300M-$325M from $225M-$275M - Now expects to open 75-80 new Tractor Supply stores. Anticipates opening 10 new Petsense locations compared to its previous outlook of 10-15 new stores. The timing of new store openings in some areas may be delayed as a result of the COVID-19 pandemic.

06:18 EDT Dow Inc. CEO says 'generated higher cash flow in the quarter' - Jim Fitterling, Dow's chairman and CEO, commented on the quarter: "Recognizing the significant impact that COVID-19 would have on demand in the quarter, Dow took proactive actions to electively focus on cash and maintain our financial strength with a continued emphasis on safe, reliable operations and disciplined capital allocation. As a result, Dow once again generated higher cash flow in the quarter. We captured solid demand growth in packaging, health and hygiene, home care and pharma end-markets, which partially offset weakness in consumer durable goods. Extended economic lockdowns shifted the inflection point for demand recovery in key markets and geographies into June, where we began to see gradual improvements across most industries. The growing recovery in China and early signs of improvement in Western Europe are positive indicators for the United States and Latin America. Our proactive cost and cash interventions enabled us to continue to maximize our financial flexibility through the pandemic. We delivered another quarter of improved year-over-year cash flow from operations as we have every quarter since spin. We maintained our liquidity position, further reduced our net debt, and we progressed our strategic priorities by announcing an agreement to divest certain rail infrastructure assets. And importantly, we continued to stay close to our customers, providing new channels to access our solutions, such as our new MobilityScience platform for the transportation industry, and implementing enhanced supply chain visibility for them as we managed through this historic period."

06:15 EDT United Therapeutics files amended patent infringement complaint on Liquidia - United Therapeutics (UTHR) announced the United States Patent and Trademark Office issued a new patent on relating to Tyvaso Inhalation Solution. The new patent, U.S. Patent No. 10,716,793, expires May 14, 2027, and is listed in the FDA's Approved Drug Products with Therapeutic Equivalence Evaluations publication, also known as the Orange Book, for Tyvaso. Yesterday, United Therapeutics filed an amended complaint against Liquidia Technologies (LQDA) in its pending patent infringement litigation in the U.S. District Court for the District of Delaware to include a claim for infringement of this new patent. The new patent relates to a method of administering treprostinil via inhalation, and it includes claims covering the dosing regimen used to administer Tyvaso. United Therapeutics initiated a lawsuit in June based on a new drug application, or NDA, filed by Liquidia with the FDA requesting approval to market LIQ861, a dry powder inhalation formulation of treprostinil. The NDA was filed under the 505 regulatory pathway with Tyvaso as the reference listed drug. In April, United Therapeutics received a Paragraph IV notification letter from Liquidia indicating that Liquidia's NDA contains a certification alleging that LIQ861 will not infringe any of the patents then listed in the Orange Book for Tyvaso because those patents are not valid, not enforceable, and/or will not be infringed by the commercial manufacture, use, or sale of LIQ861. In March, Liquidia filed petitions for inter partes review seeking to invalidate the '901 and '066 patents, and earlier this month, United Therapeutics filed preliminary responses to those petitions. United Therapeutics intends to enforce its intellectual property rights relating to Tyvaso. However, given the unpredictability inherent in litigation, United Therapeutics cannot predict the outcome of this matter or guarantee the outcome of this litigation.

06:12 EDT Ascena Retail to optimize brand portfolio, strategically reduce footprint - As part of the balance sheet restructuring contemplated by the RSA, the company will optimize its brand portfolio and strategically reduce its footprint with the closing of a significant number of Justice stores and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. This includes the exit of all stores across brands in Canada, Puerto Rico and Mexico and the closure of all Catherines stores. In addition, ascena has entered into an asset purchase agreement with City Chic Collective Limited to sell the Catherines intellectual property assets and to transition its e-commerce business to a subsidiary of City Chic. The company intends to conduct the sale process pursuant to Section 363 of the Bankruptcy Code. Accordingly, City Chic will serve as the "stalking horse bidder" in a court-supervised auction process and the Purchase Agreement is subject to higher and better offers, among other conditions. The company will continue to operate its Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey brands through a reduced number of retail stores and online. The final number of store closings will be determined based on the ability of ascena and its landlords to reach agreement on sustainable lease structures. The Company believes the Plan is in the landlords' long term interest and is hopeful and optimistic that its landlords will partner with the Company to keep as many stores open as possible. The optimization of ascena's brand portfolio and store fleet will allow the Company to stabilize its financial position in the wake of the COVID-19 pandemic and move forward as a strong, profitable business.

06:09 EDT Daimler AG sees 2020 group revenue, total unit sales below last year - Daimler said: "In view of declining unit sales due to the covid-19 pandemic, we assume that Group revenue in full-year 2020 will be lower than in the previous year. Assuming that the economic recovery continues in the second half of the year and that there is no new significant wave of covid-19 infections in our key sales markets, we expect both Group EBIT and the free cash flow of the industrial business to be positive in 2020, but lower than in the previous year. The free cash flow of the industrial business does not take into account possible expenses in connection with legal and governmental proceedings."

06:08 EDT Ascena Retail files for voluntary Chapter 11 petitions

05:57 EDT Walmart selling Indian stores to Flipkart - The Flipkart Group announced the launch of Flipkart Wholesale, a new digital marketplace that will help transform India's retail ecosystem by leveraging cutting-edge and locally developed extensive leadership in the consumer e-commerce segment and technology for the country's mom-and-pop "kirana" grocery stores and other small retailers. As part of this launch, the Group also announced the acquisition of 100% interest in Wal-Mart India Private Limited, which operates the Best Price cash-and-carry business, to leverage the strong wholesale capabilities of the company and enable growth and prosperity for the nation's kiranas and micro-, small- and medium-sized enterprises. The launch and acquisition follow the recent announcement of a new $1.2B equity round, valuing the Flipkart Group at $24.9B post-money. Reference Link

05:44 EDT Midatech Pharma announces sale process termination - Midatech said in a release, "Midatech announces it has terminated the formal sale process initiated by the Company on April 20. The formal sale process, as referred to in the City Code on Takeovers and Mergers, granted dispensations from Rule 2 of the Code such that any interested parties participating in the formal sale process were not required to be publicly identified. The wider strategic review announced by the Company on March 31 continues and the Company is considering all potential options for extracting value from its technologies and providing working capital for the Company. As part of the ongoing strategic review process, the Company is evaluating early stage proposals and expressions of interest from third parties including, inter alia, for the potential acquisition of certain assets of the Company and/or a transaction which if progressed would constitute a reverse takeover under the AIM Rules. There is no guarantee that these discussions will result in a transaction on terms that are acceptable to shareholders, or at all. In the last three months, working with Noble Capital Markets Inc., the Company has not received any proposals from third parties for the potential acquisition of the Company under the Code and, accordingly, it is now terminating the formal sale process. As announced by the Company on 9 June 2020, the Company received a letter from Secura Bio Inc. purporting to terminate the Company's licence to panobinostat, the active ingredient in MTX110. The Company remains of the view that the grounds for the purported termination of the MTX110 licence agreement by Secura Bio Inc. are unfounded. At this time, the Company is considering various avenues for a resolution and/or best options available to the Company. As previously announced, activities connected with MTD201 have been wound down expeditiously and the Company's MTD201 manufacturing facilities in Bilbao have been closed. Following the termination of in-house development of MTD201, the Company's previously announced strategy to exploit its Q-Sphera technology more broadly is gaining traction. On 8 June 2020, the Company announced a collaboration with Dr Reddy's Laboratories Ltd and on 21 July 2020 the Company announced a second collaboration with a European affiliate of a global pharmaceutical company, in each case to explore the feasibility of applying Midatech's Q-Sphera technology to the partners' proprietary products. Currently the revenues associated with these collaborations are not material to the financial position of the Company, but the Board believe the collaborations are encouraging early validation of the technology platform and, if successful, the Company would expect to enter into licensing and technology transfer agreements with its partners including milestone payments and royalties."