Stockwinners Market Radar for August 02, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:50 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Microsoft (MSFT) has confirmed that it has held talks with ByteDance to acquire TikTok in the U.S. In a statement, Microsoft said that, "Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States. Microsoft fully appreciates the importance of addressing the President's concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury. Microsoft will move quickly to pursue discussions with TikTok's parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. [...] The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries. Among other measures, Microsoft would ensure that all private data of TikTok's American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred." 2. Marathon Petroleum (MPC) announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, a wholly owned, indirect subsidiary of Seven & i Holdings, whereby 7-Eleven will acquire Speedway for $21B in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals. 3. On Wednesday, Alphabet's (GOOG; GOOGL) Sundar Pichai, Amazon's (AMZN), Apple's (AAPL) Tim Cook, and Facebook's (FB) Mark Zuckerberg were hauled in front of a virtual Congressional hearing, where they were subjected to more than five hours of cantankerous questions from both sides of the aisle, Eric Savitz wrote in this week's edition of Barron's. But investors basically ignored the proceedings, with all four stocks rising as the hearings went on, the author noted. Less than 24 hours later, investors' confidence was validated, when the same four companies reported their June quarter earnings, posting "impressive, Street-beating sales and profits," he added. Ultimately, there are still regulatory risks for all of these stocks, but the risks seem increasingly modest compared with the enduring appeal of big tech's businesses, the publication contended. 4. Apple is pushing for huge rent reductions across its UK stores despite its sales soaring to new heights during the lockdown, The Sunday Times' Sam Chambers reported. The tech giant has told landlords of a portion of its 38-store estate in the U.K. that it wants rents slashed by up to 50% and a rent-free period. In return, it has offered to extend leases by a few years, the author noted. 5. AutoNation (AN), Group 1 Automotive (GPI) and CarMax (KMX) saw positive mentions in this week's edition of Barron's.

19:35 EDT Microsoft confirms talks to acquire TikTok in U.S., possible deal by Sept. 15 - Microsoft has confirmed that it has held talks with ByteDance to acquire TIkTok in the U.S. In a statement, Microsoft said that, "Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States. Microsoft fully appreciates the importance of addressing the President's concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury. Microsoft will move quickly to pursue discussions with TikTok's parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President. The discussions with ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS). The two companies have provided notice of their intent to explore a preliminary proposal that would involve a purchase of the TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in these markets. Microsoft may invite other American investors to participate on a minority basis in this purchase. This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections. The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries. Among other measures, Microsoft would ensure that all private data of TikTok's American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred. " Reference Link

15:40 EDT Legend Biotech appoints Frank Zhang as new CEO - Legend Biotech announced that its Board of Directors has appointed Frank Zhang to serve as Chief Executive Officer, effective immediately. Zhang will succeed Yuan Xu, who has resigned from her position as Chief Executive Officer for personal reasons. Xu has also resigned from the Board of Directors of Legend Biotech.

14:17 EDT MorphoSys announces FDA approval of Monjuvi, Lenalidomide combo - MorphoSys (MOR) announced that the U.S. Food and Drug Administration has approved Monjuvi in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant. Monjuvi, a humanized Fc-modified cytolytic CD19-targeting monoclonal antibody, has been approved under accelerated approval by the U.S. FDA based on overall response rate. Continued approval may be contingent upon verification and description of clinical benefit in a confirmatory trial or trials. The FDA decision represents the first approval of a second-line treatment for adult patients who progressed during or after first-line therapy. The FDA approval was based on data from the MorphoSys-sponsored Phase 2 L-MIND study, an open label, multicenter, single arm trial of Monjuvi in combination with lenalidomide as a treatment for adult patients with relapsed or refractory DLBCL. The FDA previously granted Fast Track and Breakthrough Therapy Designation for this combination in relapsed or refractory DLBCL, and the Biologics License Application for Monjuviwas granted Priority Review and approved under the FDA's Accelerated Approval program. Monjuvi is expected to be commercially available in the United States shortly. MorphoSys and its partner Incyte (INCY) will co-commercialize Monjuvi in the United States. Incyte has exclusive commercialization rights outside the United States.

13:38 EDT Siemens Healthineers acquires Varian for $177.50 per share or $16.4B - Varian (VAR) announced that it has entered into a definitive agreement to combine with Siemens Healthineers (SMMNY) in an all-cash transaction valued at $16.4B on a fully diluted basis. Under the terms of the agreement, which has been unanimously approved by Varian's board, Siemens Healthineers will acquire all outstanding shares of Varian for $177.50 per share in cash, representing a premium of 24% to the closing price of Varian's common stock on July 31. The transaction is expected to close in the first half of 2021, subject to approval by Varian shareholders, receipt of regulatory approvals and other customary closing conditions. "The combination will create a multi-disciplinary global healthcare leader with the most comprehensive cancer care portfolio in the industry. The combined company will offer an integrated platform of end-to-end oncology solutions to address the entire continuum of cancer care, from screening and diagnosis to care delivery and post-treatment survivorship. By bringing together the highly complementary diagnostic tools, imaging, radiotherapy and AI capabilities across both companies, Varian and Siemens Healthineers will lead the digital transformation of oncology healthcare, enabling more efficient diagnosis, increased treatment quality and access, personalized precision cancer care, and improved outcomes for millions of patients worldwide," Varian said in a statement.