Stockwinners Market Radar for August 24, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
AMZN | Hot Stocks19:19 EDT AWS general availability of Amazon EBS io2 Volume - Amazon Web Services announced general availability of io2, the next generation Provisioned IOPS SSD volumes for Amazon Elastic Block Store. The new io2 volume is designed for 100x higher volume durability when compared to the 99.9% durability offered by io1 Amazon EBS volumes. Higher volume durability reduces the likelihood of storage failures and makes the primary copy of customers' data more resilient, resulting in better application availability. With io2, customers can drive 10x higher input/output operations per second from their provisioned storage at the same price as io1, so performance improves significantly without increasing storage cost. io2 is ideal for performance-intensive, business critical applications that need higher availability like ERP, CRM, and online transaction systems and the databases like SAP HANA, Oracle, Microsoft SQL Server, IBM DB2, Apache Cassandra, MySQL, and PostreSQL that back them.
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PANW | Hot Stocks18:23 EDT Palo Alto Networks CEO: The cyber security industry is too fragmented - In an interview on CNBC's Mad Money, Nikesh Arora said the problem with the cyber security industry is there are too many fragmented solutions. Palo Alto is a one stop solution, he added. "Our operating performance is strong," Arora said. "I cannot be more proud of the Palo Alto team right now." He thinks most workers will not return to the office five days a week when the COVID-19 pandemic recedes.
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HON | Hot Stocks17:41 EDT Honeywell up 3.6% at $165.24 after being added to DJIA
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AMGN | Hot Stocks17:41 EDT Amgen up 4.0% at $245.02 after being added to DJIA
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CRM | Hot Stocks17:40 EDT Salesforce up 3.7% at $216.30 after being added to DJIA
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CRM... | Hot Stocks17:40 EDT Salesforce, Amgen, Honeywell set to join Dow Jones Industrial Average on 8/31 - S&P Dow Jones Indices will make the following changes to the Dow Jones Industrial Average effective prior to the opening of trading on Monday, August 31: Salesforce.com (CRM) will replace Exxon Mobil Corp. (XOM), Amgen (AMGN) will replace Pfizer (PFE), and Honeywell International (HON) will replace Raytheon Technologies (RTX). The index changes were prompted by DJIA constituent Apple's (AAPL) decision to split its stock 4:1, which will reduce the index's weight in the Global Industry Classification Standard Information Technology sector. The announced changes help offset that reduction. They also help diversify the index by removing overlap between companies of similar scope and adding new types of businesses that better reflect the American economy.
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HON RTX | Hot Stocks17:35 EDT Honeywell to replace Raytheon Technologies in DJIA at open on 8/31
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AMGN PFE | Hot Stocks17:34 EDT Amgen to replace Pfizer in DJIA at open on 8/31
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CRM XOM | Hot Stocks17:33 EDT Salesforce to replace Exxon Mobil in DJIA at open on 8/31
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GOOG GOOGL | Hot Stocks17:25 EDT Google Cloud to invest $100M in telehealth company Amwell - In a blog post, Google Cloud announced a new partnership with Amwell to "help the healthcare industry transform for a world that is more reliant on telehealth, and to ensure that healthcare organizations and providers are equipped with telehealth solutions that provide holistic and secure experiences, support HIPAA compliance, are fully-integrated, and that will enable cohesive, patient-friendly journeys through the healthcare system." Google Cloud and Amwell will closely partner to bring telehealth solutions to healthcare organizations around the world, leveraging Amwell's telehealth platform running on Google Cloud and integrating Google Cloud's capabilities in areas including artificial intelligence, services aimed at secure handling of healthcare data in the cloud and enabling healthcare data interoperability, as well as collaboration tools like G Suite. We'll work together to bring these solutions to market, helping expand access to virtual care among our mutual customers and the global healthcare industry. As part of this strategic partnership, Google Cloud will invest $100M into Amwell to evolve and scale its telehealth portfolio to serve the needs of providers, insurers, and patients. Reference Link
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REGN | Hot Stocks17:23 EDT Regeneron's Goldstein sells 1,000 common shares - In a regulatory filing, Regeneron director Joseph L. Goldstein disclosed the sale of 1,000 common shares of the company on August 21 at a price of $617.18 per share.
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BFS | Hot Stocks17:20 EDT Saul Centers CEO buys 22.5K share of common stock - In a regulatory filing, Saul Centers disclosed that its CEO Francis Saul bought 22.5K shares of common stock on August 20th-21st in a total transaction size of $570K.
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PEBO | Hot Stocks17:08 EDT Peoples Bancorp CFO John Rogers retires, Katie Bailey to succeed - Peoples Bancorp announced that John Rogers plans to retire as Peoples' Executive Vice President, CFO and Treasurer, effective September 30, after a distinguished 39 year career in public accounting and financial services, including the past five years in his current position with Peoples. Rogers will also retire from his position as Executive Vice President, CFO and Treasurer of Peoples' banking subsidiary, Peoples Bank. He has held these positions since joining the company in 2015. Peoples further announced that, pursuant to its succession plan, it promoted Katie Bailey to the position of Executive Vice President, CFO and Treasurer of Peoples and Peoples Bank, in each case effective October 1. Bailey has most recently served as Director of Finance for Peoples and as Senior Vice President, Director of Finance, for Peoples Bank, since January 2019. She has been with Peoples Bank since May 2011.
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AWI | Hot Stocks17:04 EDT Armstrong World acquires Moz Design, terms not disclosed - Armstrong World announced that it has acquired the business and assets of Moz Designs, a designer and fabricator of custom architectural metal ceilings, walls, dividers and column covers for interior and exterior applications. The company has annual revenues of approximately $10M. AWI funded the acquisition with available cash. Financial terms of the asset purchase transaction were not disclosed.
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BIMI | Hot Stocks16:40 EDT BOQI International Medical receives noncompliance notification from Nasdaq - BOQI International Medical reported that it received a notification letter from Nasdaq stating that, because the company has not yet filed its quarterly report on Form 10-Q for the period ended June 30, the company is no longer in compliance with Nasdaq. Nasdaq Listing Rule 5250 requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. In accordance with the Nasdaq Listing Rules, the company was provided 60 calendar days to submit its plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the company's plan, then Nasdaq may grant the company up to 180 days from the prescribed due date for filing the Form 10-Q to regain compliance. If Nasdaq does not accept the company's plan, then the company will have the opportunity to appeal that decision to a Nasdaq hearings panel. The company said it is diligently working to file the Form 10-Q within the period provided to submit its plan of compliance.
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AMED | Hot Stocks16:34 EDT Amedisys signs care coordination agreement with BrightStar Care - Amedisys has signed a care coordination agreement with BrightStar Care to add its agencies to the Amedisys Personal Care Network, which helps facilitate the coordination of care between Amedisys' hospice and home health care centers and a network of personal care partners. BrightStar Care's 340 personal care locations in 38 states reach approximately 75% of the U.S. population and overlap Amedisys' hospice and home health footprints.
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AFH | Hot Stocks16:31 EDT Atlas Financial gets Nasdaq notice of additional reporting delinquency - Atlas Financial announced that it received a delinquency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC on August 18, 2020 due to the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. As previously disclosed, the Company received notices from the Staff on June 9, 2020 regarding its non-compliance with the Rule following the Company's delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and on July 1, 2020 regarding its non-compliance with the Rule following the Company's delay in the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. The company will continue to work diligently to complete and file the Form 10-K, the Q1 Form 10-Q, and the Q2 Form 10-Q as soon as practicable.
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AGCO | Hot Stocks16:28 EDT Agco's Collar sells 10,000 common shares - In a regulatory filing, Agco senior VP Gary L. Collar disclosed the sale of 10,000 common shares of the company on August 21 at a price of $72.1593 per share.
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PANW | Hot Stocks16:23 EDT Palo Alto Networks slips 2.3% after Q4 results
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POR | Hot Stocks16:23 EDT Portland General Electric expects Q3 portfolio losses of up to $155M - Portland General Electric provided a business update in connection with energy trading activity in certain wholesale electricity markets that has resulted in realized and unrealized losses of $127M as of August 24. PGE personnel entered into a number of energy trades during 2020, with increasing volume accumulating late in Q2 and into Q3, resulting in significant exposure to the company. In August, this portion of PGE's energy portfolio experienced significant losses as wholesale electricity prices increased substantially at various market hubs due to extreme weather conditions, constraints to regional transmission facilities and changes in power supply in the west. During this time period, the California Independent System Operator, or CAISO, declared a Stage 3 Electrical Emergency and ordered the first rolling blackouts in the state of California since 2001. As a result of the convergence of these conditions, the company's energy portfolio, as of August 24, has experienced realized losses of $104M and unrealized, mark-to-market losses of $23M. Total Q3 losses in the portfolio are estimated to be up to $155M subject to market conditions, although the ultimate amount of losses could exceed that amount. The increase in net variable power costs due to this trading activity will be recognized in PGE's results of operations. There will be no impact to customer prices, as the company will not pursue regulatory recovery. The company noted that the loss does not impact PGE's ability to serve customers. Promptly upon learning of the issue, the PGEboard formed a Special Committee comprising five independent board members to review the energy trading that led to the losses and the company's procedures and controls related to the trading and to make recommendations to the board for appropriate action. The special committee has retained Simpson Thacher & Bartlett as its independent legal advisor, which expects to engage additional advisors on behalf of the special committee during the course of this review.
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FLXS | Hot Stocks16:17 EDT Flexsteel Industries approves $8M buyback - Flexsteel board approved a new share repurchase program authorizing the company to purchase up to an aggregate of $8M of the company's common stock.
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MKL | Hot Stocks16:16 EDT Markel names Julia Chu as Chief Risk Officer - Markel announced that Julia Chu has been appointed Chief Risk Officer, effective immediately.
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PANW | Hot Stocks16:13 EDT Palo Alto Networks reports Q4 billings up 32% to $1.4B - Deferred revenue grows 32% year over year to $3.8B.
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PANW | Hot Stocks16:12 EDT Palo Alto Networks CEO says 'we had a strong finish to our fiscal year' - "We had a strong finish to our fiscal year, with fourth quarter billings accelerating to 32% year-over-year growth, driven by strong execution, work-from-home tailwinds, and continued success in next-gen security," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "Earlier today we announced the proposed acquisition of The Crypsis Group, a leading incident response firm. Once the transaction closes, The Crypsis Group will complement our Cortex XDR platform with best-in-class incident response, forensic, and consulting capabilities. In addition to being able to predict and prevent cyberattacks, Cortex will be able to mitigate the impact of any breach that our customers may face."
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PANW | Hot Stocks16:12 EDT Palo Alto Networks sees Q1 total billings $1.03B-$1.05B - Representing year-over-year growth of between 15%-17%.
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PANW | Hot Stocks16:10 EDT Palo Alto Networks to acquire The Crypsis Group for $265M - Palo Alto Networks announced that it has entered into a definitive agreement to acquire The Crypsis Group, "a leading incident response, risk management and digital forensics consulting firm." Under the terms of the agreement, Palo Alto Networks will acquire The Crypsis Group for a total purchase price of $265M, subject to adjustment, to be paid in cash. The proposed acquisition is expected to close during Palo Alto Networks' fiscal first quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.
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ORGO | Hot Stocks16:07 EDT Organogenesis announces resignation of CFO Timothy Cunningham - Organogenesis announced the resignation of CFO Timothy Cunningham effective August 18. The company said Cunningham's resignation is not the result of any dispute or disagreement with Organogenesis or any matter relating to the company's accounting practices or financial statements. Henry Hagopian, the company's VP of finance and treasurer has assumed the role of interim CFO in addition to his current responsibilities. The company has initiated a national search process to identify a permanent CFO.
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SMLP | Hot Stocks16:05 EDT Summit Midstream names James Johnston as Chief Compliance Officer - Summit Midstream Partners announced that its Board of Directors has appointed James Johnston to serve as Executive Vice President, General Counsel and Chief Compliance Officer of Summit Midstream Partners, LP, effective September 4. Johnston joins Summit Midstream Partners from Crestwood Equity Partners, where he most recently served as Senior Vice President and General Counsel.
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QGEN | Hot Stocks16:05 EDT Qiagen up 2.8% at $53 per share on announced launch of 10-minute COVID assay
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QGEN | Hot Stocks16:04 EDT Qiagen to launch 10-minute rapid-detection digital test for COVID antibodies - Qiagen announced the U.S. launch of the new Access Anti-SARS-CoV-2 Total test, a digital test done on a portable device that provides results in about 10 minutes to detect antibodies in people exposed to the SARS-CoV-2 virus, which is the case of COVID-19. The launch of this antibody test, which was developed in partnership with the Australian digital diagnostics company Ellume, comes after the submission by QIAGEN of this unique antibody test to the U.S. Food and Drug Administration for Emergency Use Authorization (EUA). First shipments are planned for late August 2020. A CE-IVD marking for Europe and other markets is planned in the coming weeks. The test is performed on the eHub, a portable digital device that provides results in 10 minutes. Each eHub can handle up to eight patient samples simultaneously and can perform up to 32 total tests per hour. The nanoparticle fluorescent detection technology uses serum or plasma from patient samples.
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SEAS | Hot Stocks16:00 EDT SeaWorld pops over 3% after plans for limited reopening at San Diego - Shares of SeaWorld SeaWorld Entertainment are up 3.13% or 59c a share to $19.46 in late Monday trading after announcing earlier the launch of a NEW park experience - Zoo Days: Bayside BBQ & Brews. This limited capacity, ticketed and reservation required experience "will provide guests with the opportunity to not only delight their taste buds with an exciting variety of refreshing craft brews and mouthwatering BBQ, but also explore 40 acres of the park's expansive property to enjoy outdoor animal exhibits and fan-favorite marine life animal presentations with physical distancing measures in place. "We want to thank our guests for their continued patience and support, and are beyond excited to announce the launch of this unique zoo experience, in a limited capacity format, as we safely welcome everyone back to the park for Zoo Days: Bayside BBQ & Brews," said Marilyn Hannes, president of SeaWorld San Diego. "We have enhanced our already strict health and safety measures to implement best practices in health and safety protocols that will promote an outdoor experience for families and friends that is fun, memorable and safe."
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NAK | Hot Stocks15:43 EDT Miner Northern Dynasty drops 40% after reports that U.S questions wetlands plan - Northern Dynasty Minerals shares plunged 40% or 60c per share to 87c per share on Monday following news over the weekend that the U.S government is giving the company's its Pebble Project in Alaska 90 days to explain how they would offset damage to wetlands in the area. According to a Reuters story, "Republicans, including Trump's son Donald Trump Jr. and Fox News host Tucker Carlson, have publicly voiced opposition, worried the mine would destroy areas where they enjoy fishing and hunting."
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XTNT | Hot Stocks15:15 EDT Xtant announces U.S. commercial launch of the Matriform Si for spinal fusion - Xtant Medical Holdings announced the U.S. commercial launch of the Matriform Si, a silicated synthetic bone graft strip designed and cleared for spinal fusion procedures. The Matriform Si Strip is resorbable, osteoconductive, and has a cancellous bone-like structure. It is prepared from Beta-tricalcium phosphate and porcine collagen for its intended use in filling and bridging degenerative or traumatic bone defects. "We are excited to launch Matriform Si in the U.S., which expands our biologics portfolio offering and increases our footprint in the U.S. orthopedic Bone Graft Substitute market," said Kevin Brandt, Chief Commercial Officer of Xtant Medical. "This innovative synthetic is an ultraporous, interconnected structure that is designed to enhance new bone formation and mechanical stability while preventing premature dissolution for spinal fusion procedures. Our team remains committed to advancing our product portfolio, supporting distributors, and providing new tools for surgeons to drive better patient care.
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PM | Hot Stocks15:01 EDT Philip Morris chairman Camilleri sells 75,000 common shares - In a regulatory filing, Philip Morris chairman Louis C. Camilleri disclosed the sale of 75,000 common shares of the company in two transactions. The first transaction of 37,500 shares was sold on August 20 at a price of $77.9687 per share, while the second transaction of 37,500 shares was sold on August 21 at a price of $77.4974 per share.
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SOLO | Hot Stocks15:00 EDT ElectraMeccanica jumps 7% after announcing production start for 3-wheeled EV - Shares of ElectraMeccanica are up 7% or 18c to $2.78 per share on Monday after announcing, earlier today, an official start date of August 26th for the commencement of production for its flagship SOLO EV.The SOLO is a purpose-built, all-electric, three-wheeled vehicle for the modern urban environment. Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer. The SOLO has a range of over 100 miles and a top speed of 80 mph, making it safe for any road or highway. The vehicle features front and rear crumple zones, triple-side impact protection, roll bar, torque-limiting control and many premium comfort features, such as power steering, power brakes, air conditioning and a Bluetooth entertainment system. The SOLO blends a cool, modern look with state-of-the-art technology at an attainable price point. ElectraMeccanica will be working in close partnership with its contract manufacturing partner and strategic investor, Zongshen Industrial Group, in Chongqing, China on the initial production vehicles. The Company has targeted late November/early December for initial deliveries to select members on its pre-order list before ramping production to meet growing demand. Distribution will begin in three locations where the Company has an existing retail footprint: Southern California, Scottsdale, AZ and Portland, OR. Additional deliveries will be made to key markets along the West Coast as the Company continues to expand. Owing to strong consumer demand, ElectraMeccanica has already accumulated a substantial waiting list and encourages potential customers to place their pre-orders as soon as possible to secure their position in line. The SOLO is currently available for pre-orders on the Company website here. "August 26 will be a momentous occasion for our business, and I could not be prouder of all the efforts from our collective team to make our SOLO dream a reality," said ElectraMeccanica CEO Paul Rivera. "We will be working continuously with our manufacturing partners throughout the next several months to ship fully-assembled vehicles and put them into the hands of our early adopters. Going forward, we are making every effort to ensure that the driver experience and customer care are fully supported. We are thoughtfully considering every detail to ensure that the 'Drive SOLO' experience is truly exceptional."
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FPAC | Hot Stocks14:35 EDT Far Point Acquisition stockholders approve business combination with Global Blue - Far Point Acquisition, a special purpose acquisition company, announced that its stockholders voted to approve the proposed business combination transaction with Global Blue Group AG at a special meeting held for this purpose on August 24. The parties expect the closing of the transaction to occur August 28. FPAC also announced that stockholders holding 48,708,994 shares of FPAC's Class A common stock have elected to redeem their shares in connection with the closing of the transaction.
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TEL | Hot Stocks13:57 EDT Treasrer of TE Connectivity Mario Calastri sells $1.02M in shares - Treasrer of TE Connectivity Mario Calastri disclosed in a filing that he had sold 10,757 shares of company stock at $94.60 per share on August 24 for a total transaction value of $1,017,633.
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MBI | Hot Stocks13:46 EDT MBIA director Charles Rinehart sells almost $200K in shares - MBIA director Charles Rinehart disclosed in a filing that he had sold 25,000 shares of company stock at an average price of $7.93 per share on August 19 for a total transaction value of $198,250.
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TCEHY SPOT | Hot Stocks13:14 EDT Spotify and League of Legends developer Riot Games in multiyear pact - In an earlier blog posting, Spotify (SPOT) and Riot Games (TCEHY) announced that "Multiplayer Online Battle Arena, MOBA, game League of Legends is the biggest esport in the world. Last year, tournaments were held in over 37 different cities across five continents, with a record-breaking viewership of 21.8 million average minute audience watching the 2019 World Championship Final unfold. But gamers and fans aren't just playing: they're also streaming. The official League of Legends soundtrack racks up over 4.8M Spotify listeners per month-a sizable number of both gamers and Spotify users. That's why Spotify and Riot Games, the video game developer behind League of Legends, are joining forces for a first-of-its-kind multiyear partnership. Spotify is also now the official-and exclusive-audio -streaming partner for League of Legends global events. Music is already important in the League of Legends world, but we're taking it one step further by creating a hub. Get excited for new and existing music, podcasts, and playlists inspired by the gaming community, including Official League of Legends and Road to Worlds 2020 playlists. Keep an ear out for more coming soon." Reference Link
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ZM | Hot Stocks12:57 EDT Zoom Video says Meetings and Webinars issues have been resolved - Zoom Video said on its website, "We have resolved the issue causing users to be unable to start and join Zoom Meetings and Webinars. Users are now also able to sign up for paid accounts, upgrade, and manage their service on the Zoom website. We are currently monitoring to ensure that these services are operational."
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ZM | Hot Stocks12:55 EDT Zoom Video: 'Everything should be working properly now!' - Zoom said via Twitter: "Everything should be working properly now! We are continuing to monitor the situation. Thank you all for your patience and our sincere apologies for disrupting your day." Reference Link
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MSFT | Hot Stocks12:37 EDT Microsoft expands digital alliance with city of Houston - Mayor Sylvester Turner announced that the city of Houston has expanded its digital alliance with Microsoft to innovate in big data, artificial intelligence and the digital economy. "Microsoft launched the Accelerate program at a time when closing the digital divide has never been more important," said Kate Johnson, president of Microsoft U.S. "We're thrilled to be joining Mayor Turner and an impressive group of partners in this effort to expand access to in-demand digital skills-and close digital skills gaps widened by COVID-19-through Accelerate: Houston." Through their joint efforts, Microsoft and the city of Houston will work to advance civic innovation and smart city initiatives, economic development and recovery, and digital skilling for workforce and youth.
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ECOR | Hot Stocks12:31 EDT Veterans Affairs to negotiate vagus nerve stimulator with electroCore - The Department of Veterans Affairs intends to solicit and negotiate a sole source, firm-fixed-priced purchase order with only one source, ElectroCore, for the procurement of gamma core sapphire 3 non-invasive vagus nerve stimulator for the VA Palo Alto Health Care System, the General Services Administration Federal Government posted on its website. Reference Link
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DOCU | Hot Stocks11:50 EDT DocuSign appoints Kamal Hathi as new chief technology officer - DocuSign (DOCU) announced the appointment of Kamal Hathi as its new chief technology officer, or CTO. Prior to joining DocuSign, Hathi was chief product and technology officer at Trader Interactive and before that "spent more than two decades" at Microsoft (MSFT), most recently as GM for its SaaS analytics and business intelligence solution, Power BI, DocuSign stated.
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APO | Hot Stocks11:31 EDT Apollo Global slips as Virgin Islands AG said to subpoena founder Leon Black - Shares of Apollo Global Management are down 74c, or 1.5%, to $46.29 following a report that Leon Black, the founder of Apollo, will be issued a civil subpoena as officials in the U.S. Virgin Islands seek information about his decades-long ties to convicted sex offender Jeffrey Epstein. Attorney general Denise George informed a local court last week that she would issue civil subpoenas to Black and several entities connected to him seeking financial statements and tax returns and subpoenas will also go to Apollo and entities that help manage Black's art collection, the New York Times' Matthew Goldstein, Steve Eder and David Enrich reported over the weekend. Reference Link
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MSFT... | Hot Stocks11:08 EDT TikTok suing Trump Administration over efforts to ban TikTok in U.S. - TikTok stated in a post to its corporate website: "Today we are filing a complaint in federal court challenging the Administration's efforts to ban TikTok in the US... Today, 100 million Americans turn to TikTok for entertainment, inspiration, and connection; countless creators rely on our platform to express their creativity, reach broad audiences, and generate income; our more than 1,500 employees across the US pour their hearts into building this platform every day, with 10,000 more jobs planned in California, Texas, New York, Tennessee, Florida, Michigan, Illinois, and Washington State; and many of the country's leading brands are on TikTok to connect with consumers more authentically and directly than they can elsewhere. Put simply, we have a thriving community and we are grateful - and responsible - to them. The Executive Order issued by the Administration on August 6, 2020 has the potential to strip the rights of that community without any evidence to justify such an extreme action, and without any due process. We strongly disagree with the Administration's position that TikTok is a national security threat and we have articulated these objections previously." ByteDance has reportedly been making progress in talks with potential acquirers of the U.S. operations of the short video app, including Microsoft (MSFT) and Oracle (ORCL), media reports have indicated. Reports have also indicated that Twitter (TWTR) is exploring a bid for TikTok. Other publicly traded companies in the social media space include Facebook (FB) and Snap (SNAP). Reference Link
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ZM | Hot Stocks11:05 EDT Zoom Video rolling out fixes for today's outages - Zoom Video said on its website, "We are in the process of deploying a fix across our cloud. Service has been restored already for some users. We are continuing to roll this out to complete the fix for any users still impacted."
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FTSI | Hot Stocks11:00 EDT FTS International trading resumes
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ORN | Hot Stocks10:45 EDT Orion Group provides update on explosion, fire involving Waymon Boyd - Orion Group Holdings provided an update on the explosion and fire in the Port of Corpus Christi involving its dredge Waymon Boyd. "On Friday morning a fire occurred in the Port of Corpus Christi Ship Channel near one of the Company's dredges, the Waymon Boyd, and the vessel caught fire. The bodies of two missing crew members have been recovered and recovery efforts continue for two crew members who remain missing. Several crewmen were injured in the incident, some seriously, and are being treated for their injuries." "We greatly appreciate the efforts of the U.S. Coast Guard and other first responders in their efforts to recover our missing crewmen," said Mark Stauffer, Orion's President and CEO. "Our focus is on supporting our employees and their families during this difficult time and our thoughts and prayers are with them and all the first responders. We continue to work alongside the U.S. Coast Guard, the Port of Corpus Christi Authority and the other agencies to assist in the recovery of our personnel and the wider investigation into this incident." The company has notified its insurers of this incident, continues to focus on safely executing its projects, and does not expect any material adverse impacts as a result of this incident.
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ODC | Hot Stocks10:03 EDT Oil-Dri Corporation of America announces issuance of new U.S. patent - Oil-Dri Corporation of America announced that the United States Patent and Trademark Office has issued U.S. Patent 10,568,903 entitled "Clay Product and Uses Thereof." The patent covers two existing commercial products, Varium for poultry and NeoPrime for swine, that are helping global animal protein producers thrive in an era of antibiotic-free production. This patent provides a methodology for using a natural, mineral-based formula to mitigate the effects of exposure to pathogenic bacteria and the disease-causing toxins they produce, which damage gut health and function. Advancements in natural feed additives are helping to transform animal protein production by providing proven and reliable alternatives to in-feed antibiotics used to promote growth and productivity. "The United States is the second country to issue a patent for this mineral-based technology and it validates the important role that minerals play in disrupting the cycle of intestinal disease," said Daniel S. Jaffee, President and CEO of Oil-Dri Corporation of America.
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BAESY | Hot Stocks10:02 EDT BAE Systems wins $495M contract to continue range instrumentation support - The U.S. Air Force has awarded BAE Systems a $495M contract to continue to provide a wide range of instrumentation support and sustainment services to military and government agencies for the U.S. and its allies. BAE Systems has been involved in the Instrumentation Range Support Program for 35 years and this new contract extends the company's role in ensuring the accuracy and operational reliability of tracking systems in support of national security missions. The single-award contract has a ceiling amount of $945M over seven years.
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NTP | Hot Stocks10:00 EDT Nam Tai Property falls -5.3% - Nam Tai Property is down -5.3%, or -48c to $8.50.
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ONE | Hot Stocks10:00 EDT OneSmart falls -5.9% - OneSmart is down -5.9%, or -26c to $4.14.
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HKIB | Hot Stocks10:00 EDT AMTD International falls -11.7% - AMTD International is down -11.7%, or -76c to $5.74.
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LPL | Hot Stocks10:00 EDT LG Display rises 13.2% - LG Display is up 13.2%, or 74c to $6.33.
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VEL | Hot Stocks10:00 EDT Velocity Financial rises 13.9% - Velocity Financial is up 13.9%, or 73c to $6.00.
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RKT | Hot Stocks10:00 EDT Rocket Companies rises 15.6% - Rocket Companies is up 15.6%, or $4.03 to $29.92.
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ZM | Hot Stocks09:57 EDT Zoom identified issue over not being able to authenticate website - Zoom Video said it has "identified the issue causing users to be unable to authenticate to the Zoom website (zoom.us) and unable to start and join Zoom Meetings and Webinars, and we are working on a fix for this issue."
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CHN | Hot Stocks09:47 EDT The China Fund falls -3.9% - The China Fund is down -3.9%, or -99c to $24.49.
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APRN | Hot Stocks09:47 EDT Blue Apron falls -5.3% - Blue Apron is down -5.3%, or -45c to $8.14.
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HKIB | Hot Stocks09:47 EDT AMTD International falls -8.0% - AMTD International is down -8.0%, or -52c to $5.98.
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RKT | Hot Stocks09:47 EDT Rocket Companies rises 10.1% - Rocket Companies is up 10.1%, or $2.62 to $28.51.
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VEL | Hot Stocks09:47 EDT Velocity Financial rises 11.2% - Velocity Financial is up 11.2%, or 59c to $5.86.
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LPL | Hot Stocks09:47 EDT LG Display rises 13.2% - LG Display is up 13.2%, or 74c to $6.33.
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SJI | Hot Stocks09:46 EDT Captona forms Catamaran Renewables JV with South Jersey Industries - Captona, a North America-focused investment company specializing in power generation and energy infrastructure assets, announced the formation of Catamaran Renewables, a 50/50 joint venture between Captona and SJI subsidiary Marina Energy, to develop, own and operate renewable energy projects. The new Catamaran joint venture brings over 1.3 GW of combined operational experience across all types of renewable energy and transactional experience above $1B in the renewable energy industry. The joint venture also announces its first acquisition in the vehicle, a 7.5 MW fuel cell portfolio in Staten Island, New York from NineDot Energy, a renewable energy developer based in the NYU Urban Future Lab cleantech incubator in Brooklyn, NY. The projects are currently under construction and scheduled to be placed into service this year. All project revenue qualifies under New York's VDER program.
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ZM | Hot Stocks09:40 EDT Zoom Video reports partial outages at Meetings and Webinars - Zoom Video said via Twitter, "We have received reports of users being unable to start and join Zoom Meetings and Webinars. We are currently investigating and will provide updates as we have them. We sincerely apologize for any inconvenience." Reference Link
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SMAR | Hot Stocks09:33 EDT Smartsheet to acquire Brandfolder for $155M - Smartsheet said in a release, "Smartsheet announced that it has agreed to acquire Brandfolder, the market momentum leader in digital asset management, or DAM, as awarded in a 2020 G2 Report. Combining Brandfolder's world-class DAM capabilities with Smartsheet's leading collaborative work management platform will create a dynamic solution that manages workflows around content and collaboration, and enable organizations to break down silos, execute more effectively, and make better decisions faster. Smartsheet will pay approximately $155 million for the acquisition, subject to certain customary adjustments and indemnification obligations, with a combination of cash and stock. Closing is expected to occur in September. Additional details regarding the anticipated financial impact of the acquisition will be provided in conjunction with our second quarter of fiscal year 2021 earnings announcement on September 2."
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MWK | Hot Stocks09:31 EDT Mohawk Group to acquire Truweo for approximately $16.4M - Mohawk Group announced that it has entered into a definitive agreement to purchase the assets of Truweo, an e-commerce brand in the health and personal wellness category. The company will pay approximately $16.4M, approximately $13.9M in cash at closing and approximately $2.5M in the form of an unsecured promissory note, which reflects an approximately 2.5x multiple on Truweo's trailing twelve month, or TTM, operating income measured as of July 31. Truweo's TTM revenue and operating income, ending as of July 31, were approximately $14M and $6.5M, respectively. The acquisition is contingent upon obtaining certain required third party approvals and the satisfaction of customary conditions, and is expected to close on or about August 26.
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MWK | Hot Stocks09:30 EDT Mohawk Group to acquire Truweo for approximately $16.4M - Mohawk Group announced that it has entered into a definitive agreement to purchase the assets of Truweo, a leading ecommerce brand in the health and personal wellness category. The company will pay approximately $16.4M (approximately $13.9M in cash at closing and approximately $2.5M in the form of an unsecured promissory note), which reflects an approximately 2.5x multiple on Truweo's trailing twelve month operating income measured as of July 31. Truweo's TTM revenue and operating income, ending as of July 31, were approximately $14M and $6.5M, respectively. The acquisition is contingent upon obtaining certain required third party approvals and the satisfaction of customary conditions, and is expected to close on or about August 26.
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PIXY | Hot Stocks09:29 EDT ShiftPixy announces nationwide alliance with U.S. Wellness - ShiftPixy announced a nationwide alliance with U.S. Wellness, a provider of employee wellness programs with a suite of services designed to engage and inspire employees toward achieving their wellness goals. Through the alliance, U.S. Wellness will immediately place 9,000 of its nurses on the ShiftPixy human capital management platform, with near-term plans expected to double that staff volume.
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XSPA ABT | Hot Stocks09:27 EDT XpresSpa to begin rapid testing for COVID-19, signs contract with Abbott - XpresSpa (XSPA) said it has has made a "major stride" in advancing airport COVID-19 testing by "slashing the waiting time for results from 48 hours or more to under 15 minutes." The company has signed a contract with Abbott (ABT) securing 100 ID NOW testing instruments. This rapid molecular testing technology has emerged as a part of the diagnostic landscape to help fight the pandemic by allowing fast, accurate diagnosis. Securing the use of the Abbott devices is part of XpresCheck's strategy to deliver testing and healthcare services to airports across the country. This first mover advantage in the airport space will roll out in September at its locations in JFK International Airport and Newark Liberty International Airport.
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CTO | Hot Stocks09:23 EDT CTO Realty Growth announces acquisition of Tampa office property for $26.9M - CTO Realty Growth announced the acquisition of an approximately 120,000 square foot single-tenant office property in Tampa, Florida for approximately $26.9M, or approximately $223 per square foot. The property is situated on approximately 12 acres and is 100% leased to Ford Motor Credit Company, the only tenant to have occupied the building since it was built in 1998. The property is four stories and has a parking ratio of over seven per 1,000 square feet of space. The lease with Ford was recently extended through March 2026. The initial investment yield is approximately 8.4%, which is above the high end of the company's 2020 guidance. The transaction was purchased through a 1031 like-kind exchange using approximately $27M of the approximately $37M of the company's restricted cash generated from previously announced property dispositions that were sold at an average cap rate of approximately 4.5%. The company also announced that it has collected approximately 90% of the contractual base rents expected in the month of August. Contractual base rents are those owed to the company per the current lease agreements. Further, the company agreed to defer approximately 3% of the contractual base rents, with the approximately 7% remaining unsresolved. The majority of the unresolved contractual base rent is related to the company's property in Falls Church, Virginia leased to 24 Hour Fitness. The company is in discussion with 24 Hour Fitness and is hopeful to reach an agreement on current and past due rents in the coming weeks.
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MRNA | Hot Stocks09:20 EDT Moderna confirms discussions to provide EC 80M doses of COVID-19 vaccine - Moderna announced that the company has concluded advanced exploratory talks with the European Commission, or EC, to supply 80M doses of mRNA-1273, Moderna's vaccine candidate against COVID-19, as part of the European Commission's goal to secure early access to safe and effective COVID-19 vaccines for Europe. The potential purchase agreement with the European Commission of 80M doses provides for an option for Member States to purchase an additional 80M doses for a total of up to 160M doses. The discussions are intended to ensure that Member States have access to Moderna's vaccine. The Phase 3 study of mRNA-1273 began on July 27 and enrollment of approximately 30,000 participants is on track to complete in September. Moderna is scaling up global manufacturing to be able to deliver approximately 500M doses per year and possibly up to 1B doses per year, beginning in 2021. In Europe, the company is working with its strategic manufacturing partners, Lonza of Switzerland and ROVI of Spain, for manufacturing and fill-finish outside of the United States. This is a dedicated supply chain to support Europe and countries other than the United States that enter into purchase agreements with Moderna.
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AIRG | Hot Stocks09:18 EDT Airgain, GetWireless expand strategic distribution agreement for AirgainConnect - Airgain announced the expansion of product offerings with its master distributor, GetWireless, a distributor of IoT solutions since 2001. GetWireless offers a product portfolio of public safety solutions. The distribution agreement between the two companies has been in place since 2011 and provides resellers and customers of Airgain products across the U.S. with technical support and sales consultation for Airgain's public safety, mobile, automotive fleet, industrial IoT, and M2M product portfolio. The addition of AirgainConnect AC-HPUE to its line card provides GetWireless and its customers access to the first antenna-modem with integrated HPUE, promising up to ten times the transmission power at the antenna for public safety and fleet vehicles, maximizing coverage, building penetration, throughput and coverage for communications.
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AXDX | Hot Stocks09:16 EDT Accelerate Diagnostics names Nedal Safwat Chief Strategy Officer - Accelerate Diagnostics announced that Nedal Safwat has been appointed Chief Strategy Officer. Dr. Safwat joins Accelerate from BioMerieux, a microbiology diagnostics company.
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SJI | Hot Stocks09:15 EDT South Jersey Industries forms renewable energy projects JV with Captona - South Jersey Industries announced the formation of Catamaran Renewables, a joint venture, or JV, between SJI subsidiary Marina Energy and Captona, to develop, own and operate renewable energy projects. Captona has knowledge in the development, ownership and operation of renewable projects. Collectively, the new Catamaran joint venture brings more than 1.3 GW of operational experience across all types of renewable energy and has financed more than $1B in renewable energy transactions. In conjunction with the formation of Catamaran, the partners announced the acquisition of two fuel cell projects in Staten Island, New York totaling 7.5 MW from NineDot Energy, a renewable development company based in the NYU Urban Future Lab cleantech incubator in Brooklyn, NY. These late-stage development projects, located along the southern portion of Staten Island, have all secured permits and interconnection rights and are supported by long-term offtake agreements with two creditworthy anchor customers. The projects are currently under construction and scheduled to be placed into service in October. Marina will own 93% of the project and accordingly, receive 93% of the ITC, cash flows and net income associated with the project. The projects qualify under New York's Value of Distributed Energy Resources program and 75% of project revenues will be fixed.
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CHRA EXC | Hot Stocks09:12 EDT Charah Solutions receives contract extension from Exelon - Charah Solutions (CHRA) said in a release, "Charah Solutions announced that its Allied Power division has signed a multi-year contract extension for nuclear maintenance and technical services with Exelon Generation Company (EXC) the largest owner and operator of nuclear plants in the United States and the largest producer of emissions-free energy. Allied Power will provide maintenance and modification services for twelve Exelon nuclear plants and 21 units in four states as well as fleet wide staff augmentation services through mid-August 2025, with an option for a five-year renewal. Allied Power's services are designed to support Exelon's objectives for safe, event-free outage and operational performance at Exelon's sites in Illinois, Maryland, New York and Pennsylvania."
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GOVX | Hot Stocks09:12 EDT GeoVax Labs initiates combination therapy study for HIV patients with MVA62B - GeoVax Labs announced initiation of a Phase 1 clinical study of a combination therapy in HIV-positive patients utilizing GeoVax's novel boost component MVA62B. The study is a collaboration of researchers led by Steven Deeks, professor of Medicine in Residence at the University of California San Francisco, or UCSF, and a faculty member in the Division of HIV, Infectious Diseases and Global Medicine at Zuckerberg San Francisco General Hospital. The study is designed to induce remission in HIV-positive individuals, also known as a "functional cure." It is being funded by amfAR, The Foundation for AIDS Research. The single-arm, open-label study will enroll 20 HIV-infected adults who are on stable and effective antiretroviral therapy, or ART. The investigational regimen entails a combination of vaccinations, administration of broadly neutralizing antibodies and a Toll-like receptor 9 agonist. GeoVax is providing its novel boost component, MVA62B, for use in the studies. MVA62B is the boosting component for GeoVax's preventive HIV vaccine, GOVX-B11, which has successfully completed a Phase 2a clinical trial.
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NK | Hot Stocks09:09 EDT NantKwest signs collaboration agreement with ImmunityBio - NantKwest and ImmunityBio, a privately held immunotherapy company, announced the signing of a definitive agreement to jointly develop, manufacture, market, and commercialize therapeutics and vaccines for combating the COVID-19 pandemic. The companies said in a release, "Under the terms of the definitive agreement, the two companies agree to share equally the costs incurred after August 21 of development, manufacturing, marketing, and commercialization of the products each is developing related to COVID-19. Should a product be commercialized successfully, the companies have agreed to a 60-40 percentage split of net profits, with the larger share going to the company that developed the product. The agreement also details the structure of shared governance of the joint collaboration. The two product candidates currently in development under the agreement are a mesenchymal stem cell therapeutic from NantKwest, whose goal is to reduce the time a critically ill patient spends on a ventilator; and a COVID-19 vaccine product from ImmunityBio, which is anticipated to soon enter into a phase I clinical trial."
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BRQS | Hot Stocks09:08 EDT Borqs receives purchase order for over $15M to supply India with POS devices - Borqs Technologies announced that it has received a purchase order of more than $15M to supply mobile point of sale, or POS, IoT devices for the India market. Borqs designed and developed the POS IoT device with technologies which will work particularly for the India market, including the latest radio bands, payment methods, etc. The POS device has passed global mobile payment certifications and India mobile operator certifications.
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RF | Hot Stocks09:08 EDT Regions Financial branches now open for walk-in service - Regions Bank today announced it has reopened branch lobbies for walk-in service and implemented health and safety best practices to help reduce the spread of COVID-19. In March, Regions temporarily limited in-person branch-banking services to drive-through and lobby service by appointment only as part of the bank's comprehensive response to COVID-19. Since the pandemic emerged, Regions has taken decisive action to implement health and safety best practices, provide tailored assistance to customers facing hardship, and support community organizations in the markets Regions serves. As Regions welcomes customers for walk-in service, the bank has implemented a variety of health and safety best practices in the interest of customers and associates: All bankers will undergo a wellness check before entering the branch. All bankers have been provided face coverings and will wear them when interacting with customers. Face coverings are required for customers in the branch. Each branch will maintain posted occupancy limits based upon facility size and type; a Regions banker will assist with managing occupancy. Regions has instituted enhanced cleaning and sanitizing practices in all facilities using products recommended by the CDC and is also providing hand sanitizer for customers and associates. Protective shields have been installed at cash lines and banker desks. Floor markers and signage are posted throughout the branches to assist with CDC-recommended social distancing guidelines. Customers are encouraged to schedule appointments for in-branch services in advance through the Make an Appointment feature on Regions.com, through online and mobile banking or by calling the branch directly to set up a time for service. Branch contact information is available through the Locations tab on Regions.com. Regions also offers a variety of contactless banking options in addition to in-branch services. Customers may access their accounts and complete banking transactions through Regions' online and mobile banking capabilities and network of 2,000 ATMs, many of which provide Video Banking service during extended hours as well as check cashing and deposit services. Regions continues to invest in technology innovations to improve the customer experience and provide additional choice and convenience."
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CWBR | Hot Stocks09:07 EDT CohBar doses first subjects in CB4211 clinical trial - CohBar announced that the first subjects have been dosed with CB4211 in the Phase 1b stage of its Phase 1a/1b clinical trial for NASH and obesity. The Phase 1b study is a double-blind, placebo-controlled evaluation of one dose level of CB4211 given once a day for four weeks in twenty obese subjects with NAFLD. This study is designed to assess the potential effects of CB4211 on liver fat, body weight and various biomarkers that are relevant to NASH, obesity and metabolic disease. Subjects are required to have a minimum of 10% liver fat at enrollment, and to stay in the clinical study unit during the four weeks of treatment. The study resumed in July after a pause in March due to the COVID-19 pandemic. CB4211 is the first mitochondria based therapeutic to enter clinical testing. Mitochondria based therapeutics are an emerging class of drugs based on novel analogs of peptide sequences discovered by CohBar scientists in the mitochondrial genome, some of which have been shown to have the potential to regulate key processes in multiple systems and organs in the body.
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FTSI | Hot Stocks09:06 EDT FTS International announces agreement with majority of secured debtholders - FTS International said in a release, "FTS International announced that it has entered into a restructuring support agreement with approximately 75 percent of the holders of the Company's 6.250% senior secured notes due 2022 and approximately 64 percent of the Company's secured debt claims. The Agreement outlines a comprehensive restructuring that will deleverage the Company's balance sheet by $437.3 million and provide it with the financial flexibility to deliver results-oriented and innovative well completion solutions to its customers. Importantly, the Agreement contemplates that the Company's vendors, suppliers, and customers will remain unaffected by the transaction."
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NVAX | Hot Stocks09:05 EDT Novavax initiates Phase 2 portion of NVX-CoV2373 COVID-19 vaccine trial - Novavax announced that the first volunteers have been enrolled in the Phase 2 portion of its ongoing clinical trial to evaluate the immunogenicity and safety of NVX-CoV2373, Novavax' COVID-19 vaccine candidate. The Phase 2 clinical trial expands on the age range of the Phase 1 portion by including older adults 60-84 years of age as approximately 50% of the trial's population. NVX-CoV2373 is a stable, prefusion protein made using Novavax' nanoparticle technology and includes Novavax' proprietary Matrix-M adjuvant. The Phase 2 portion of the ongoing Phase 1/2 clinical trial is a randomized, placebo-controlled, observer-blinded study to evaluate the safety and immunogenicity of NVX-CoV2373 with Matrix-M in subjects aged 18 to 84 years. The clinical trial will assess two dose sizes, each with 50 microgram of Matrix-M. Although the trial was designed to confirm immunogenicity and safety in adults, secondary objectives include preliminary evaluation of efficacy. The study is targeting enrollment of up to 1,500 healthy volunteers, with approximately 50% of participants greater than or equal to 60 years of age, at up to 40 sites in the U.S. and Australia
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OSS | Hot Stocks09:02 EDT One Stop Systems receives two purchase orders of $4.3M for DSUs - One Stop Systems has received two anticipated purchase orders of $4.3M for OSS mil-spec data storage units, or DSUs, to be fulfilled in the second half of 2020. These purchase orders are in conjunction with the previously announced $36M, five-year sole-source supplier agreement to provide mil-spec flash storage arrays for an airborne military radar application. The DSUs use high-speed flash storage contained in removable canisters for the transport of high volumes of data from surveillance aircraft to ground-base stations. The systems are capable of storing encrypted data collected in real-time from advanced radar and other airborne sensors. These orders are inclusive of airborne and ground systems, spare canisters and support services.
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AREC | Hot Stocks08:48 EDT American Resources Corp. signs third-party carbon processing agreement - American Resources Corp. said in a release, "American Resources Corporation announced that it has entered into a carbon processing, transloading agreement with a third-party operator. Under the agreement, American Resources will provide, among other things, carbon processing, storage and rail and/or truck loading services at its Davidson Branch Preparation Plant located at the Company's Perry County Resources complex in Hazard, Kentucky. The agreement commences immediately under an initial trial period and will then carry a one-year term should the trial be favorable for both parties. The agreement will have the option to renew on an annual basis."
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LGND AMGN | Hot Stocks08:41 EDT Ligand announces Amgen KYPROLIS approved by FDA - Ligand Pharmaceuticals said in a release, "Ligand Pharmaceuticals (LGND) announces that a major Captisol customer Amgen (AMGN) has received FDA approval for the expansion of the KYPROLIS U.S. prescribing information to include its use in combination with DARZALEX plus dexamethasone in once- and twice-weekly dosing regimens for the treatment of patients with relapsed or refractory multiple myeloma who have received one to three previous lines of therapy."
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BNED | Hot Stocks08:40 EDT Barnes & Noble Education to pursue standalone go-forward strategy - Barnes & Noble Education said in a release, "Barnes & Noble Education announced that its board has concluded its review of strategic opportunities, which was announced in December 2019. After extensive evaluation and deliberation, and in consultation with its financial and legal advisors, the Board unanimously determined that the continued execution of the Company's current business plan is the best path forward for the Company and its shareholders. Shortly after the strategic review commenced, the COVID-19 pandemic emerged, which gave rise to significant challenges for the Company's business. Nevertheless, an exhaustive strategic review was undertaken and completed. At the same time, the Company also made significant progress towards implementing and executing its digital transformation strategy, which further enhanced the Company's importance and relevance to its customers, particularly given the post-COVID-19 shift to remote learning. In the last several months, BNED has successfully grown its high-margin DSS business, improved its share of course material adoptions through BNC First Day, BNC First Day Complete and other new digital models, increased its revenue from new business wins, leveraged its MBS fulfilment and virtual capabilities, and strengthened and improved its general merchandise business with the recent release of its new eCommerce platform."
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BNED | Hot Stocks08:39 EDT Barnes & Noble Education to pursue standalone go-forward strategy
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TCDA | Hot Stocks08:38 EDT Tricida receives CRL from FDA for NDA for veverimer - Tricida said in a release, "Tricida announced that it received a Complete Response Letter, or CRL, from the FDA for its New Drug Application, or NDA, for veverimer on August 21, 2020. The NDA was reviewed under the Accelerated Approval Program. According to the CRL, the FDA is seeking additional data beyond the TRCA-301 and TRCA-301E trials regarding the magnitude and durability of the treatment effect of veverimer on the surrogate marker of serum bicarbonate and the applicability of the treatment effect to the U.S. population. FDA also expressed concern as to whether the demonstrated effect size would be reasonably likely to predict clinical benefit. There were no safety, clinical pharmacology/biopharmaceutics, CMC or non-clinical issues identified in the CRL. The CRL provided multiple options for resolving the identified deficiencies. In order to obtain approval for veverimer the company may or may not have to conduct an additional clinical trial. The FDA indicated it is willing to meet with Tricida to discuss options for obtaining approval, including under the Accelerated Approval Program. Tricida plans to request a Type A meeting with the FDA in the coming weeks. A Type A meeting is usually scheduled within 30 days of the meeting request. Following the Type A meeting, anticipated early in the fourth quarter, Tricida plans to provide an update on next steps and estimated timing of a potential resubmission of the NDA. Tricida notes that cash, cash equivalents and investments were $437 million at the end of the second quarter of 2020. Based on the current operating plan, the company believes that it is well positioned financially to fund its operations into early 2022."
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EDIT | Hot Stocks08:38 EDT Editas Medicine granted RPD designation for EDIT-301 by FDA - Editas Medicine announced that the FDA has granted rare pediatric disease, or RPD, designation for EDIT-301, an experimental, autologous cell medicine, being developed as a potentially best-in-class, durable medicine for sickle cell disease. The company plans to file an investigational new drug application, or IND, for EDIT-301 by the end of 2020.
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ADTX | Hot Stocks08:36 EDT Aditx Therapeutics submits EUA application for AditxtScore to FDA - Aditx Therapeutics announced that it has submitted an emergency use authorization, or EUA, application with the FDA for AditxtScore for COVID-19, for use in detecting antibodies against SARS-CoV-2 antigens.
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INPX | Hot Stocks08:36 EDT Inpixon receives FCC certification for new multi-technology sensor - Inpixon announced it has received certification for its new multi-technology sensor from the U.S. Federal Communications Commission. The sensor includes Ultra-Wideband, Cellular, Wi-Fi and BLE detection.
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GVA | Hot Stocks08:34 EDT Granite Construction begins $13M Amtrak station improvement project in IL - Granite Construction said in a release, "Granite announced that it has begun work for a $13 million task order at the Homewood, Illinois Station as part of a Multiple Award Construction Contract, or MACC, for Americans with Disabilities Act Stations Program by The National Railroad Passenger Corporation (Amtrak). The project contract will be included in Granite's third quarter 2020 backlog. Granite was one of eight contractors selected in 2019 to participate in Amtrak's ADA Stations Program MACC. The $100 million indefinite delivery/indefinite quantity competitive MACC is comprised of task orders ranging from $25 thousand to $25 million, for five base years ending in 2023, plus five, one-year options through 2028. Granite is currently completing four ADA compliance upgrade projects that were previously awarded by Amtrak under this MACC Program, two in Montana and two in New York."
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TPTX | Hot Stocks08:34 EDT Turning Point Therapeutics receives fast-track designation for repotrectinib - Turning Point Therapeutics announced the FDA granted a third fast-track designation to its lead drug candidate, repotrectinib. The designation was granted for the treatment of patients with advanced solid tumors that have an NTRK gene fusion who have progressed following treatment with at least one prior line of chemotherapy and one or two prior TRK tyrosine kinase inhibitors, or TKIs, and have no satisfactory alternative treatments. Repotrectinib was previously granted two fast track designations for the treatment of ROS1-positive advanced non-small cell lung cancer patients, first for patients with one prior line of platinum-based chemotherapy and one prior ROS1 TKI, and second for patients without prior ROS1 TKI treatment. There are no approved targeted therapies for patients previously treated with another ROS1 or TRK TKI.
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CURLF | Hot Stocks08:34 EDT Curaleaf opens new cannabis dispensary in Clearwater, Florida - Curaleaf announced that it has opened a new dispensary in Clearwater, Florida, marking its 29th retail location in the state.
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SWBI | Hot Stocks08:33 EDT Smith & Wesson Brands names Deana McPherson as CFO - Smith & Wesson Brands named Deana McPherson as Executive Vice President, CFO, Treasurer, and Assistant Secretary, in a previously announced transition, which follows the retirement of Jeffrey Buchanan and the completion of the spin-off of the company's outdoor products and accessories business. McPherson joined Smith & Wesson in June 2007 as Corporate Controller, was later promoted to Vice President of Finance and Corporate Controller, and became Chief Accounting Officer in 2017.
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NNN | Hot Stocks08:32 EDT National Retail Properties names Steve Horn as COO - The Board of Directors of National Retail Properties announced that Stephen Horn, Jr. has been appointed COO. He also retains the title Executive Vice President. Horn has served as Executive Vice President and Chief Acquisition Officer of the company since January 2, 2014. Horn previously served as Senior Vice President of Acquisitions for the company from June 2008 to December 2013, and as Vice President of Acquisitions of the company from 2003 to 2008. Prior to 2003, Horn worked in the mergers and acquisitions group at A.G. Edwards & Sons in St. Louis, MO.
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LTBR | Hot Stocks08:31 EDT Lightbridge receives patent from Korean Intellectual Property Office - Lightbridge announced that it has received a notification of patent grant from the Korean Intellectual Property Office for a divisional patent application relating to a co-extrusion method of manufacturing Lightbridge four-lobe helically twisted metallic fuel rods, based on its 2011 Patent Cooperation Treaty ( patent application.
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GMS | Hot Stocks08:30 EDT GMS Inc. appoints William Forrest Bell as Chief Accounting Officer - GMS Inc. announced that William Forrest Bell has been appointed as the Company's new Chief Accounting Officer, effective September 14. Bell joins GMS from Icahn Automotive Group, an aftermarket automotive parts distribution and service company, where he served as Chief Accounting Officer.
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MARA | Hot Stocks08:29 EDT Marathon Patent Group installs 1,360 miners, increases hashrate 230% - Marathon Patent Group announced that it received 700 WhatsMiner M31S+ Miners from MicroBT and 600 S19 Pro Antminers from Bitmain. All 1,360 have been deployed at the company's hosting facility with Compute North, and the new installations have increased the company's Hashrate by 130/Ph to 186/Ph. Between May 19 and June 11, the company announced the purchase of 1,000 additional S19 Pro Antminers. Overall, 500 of these units are scheduled to arrive in September and another 500 in December of this year. When received and deployed, these 1,000 S-19 Pro Miners will add an additional 110/Ph to the company's production and December which will add an additional 153.4/Ph to the company's production, thus increasing total production to 296/Ph before year's end. The company expects to receive the first S19 Pro Antminers from the recently announced 10,500 unit long term purchase agreement with Bitmain, beginning in January 2021 with final deliveries expected in June 2021. The addition of these 10,500 Miners will increase the company's Hashrate production by 1,155/Ph. When all Miners are installed, the company's total estimated aggregate Hashrate Production will approach approximately 1.5 Exahash.
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FTSI | Hot Stocks08:24 EDT FTS International trading halted, news pending
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SAVA | Hot Stocks08:22 EDT Cassava Sciences lead drug candidate assigned chemical drug name sumifilam - Cassava Sciences announced that its lead drug candidate PTI-125 has assigned the chemical drug name sumifilam by the United States Adopted Names, or USAN, Council. Future references to PTI-125 will be sumifilam. A commercial brand name for sumifilam is expected to be announced at a future date. Sumifilam is an investigational new drug and has not been approved for any indication. Sumifilam is the first of a new class of drugs that bind filamin proteins. For this reason, USAN is expected to grant this class of drugs its own name stem, i.e., -filam. Any future drug by any company that targets filamin protein is expected to incorporate the -filam name stem as part of its drug name.
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BIOC | Hot Stocks08:19 EDT Biocept appoints Michael Dugan as CMO, medical director - Biocept announced the appointment of Michael Dugan as CMO and medical director. Dugan has served in medical positions at a number of companies. At Biocept he will be responsible for medical policy decision-making and the operations of the company's CLIA-certified and CAP-accredited molecular laboratory. Dugan brings to Biocept more than 25 years of industry experience, most recently as president and CEO of MCDXI Medical Diagnostics International, a professional advisory group practice where he consulted with biotechnology companies in oncology diagnostics, medical device development, and clinically related software applications.
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BGNE | Hot Stocks08:17 EDT BeiGene enters license, distribution, supply agreement with Bio-Thera Solutions - Bio-Thera Solutions and BeiGene announced that the companies have executed a license, distribution, and supply agreement for China for Bio-Thera's BAT1706, an investigational biosimilar to Avastin. The companies said in a release, "The China National Medical Products Administration, or NMPA, recently accepted Bio-Thera's Biologics License Application, or BLA, for BAT1706. Bevacizumab has been approved in China for advanced, metastatic, or relapsed non-small cell lung cancer and metastatic colorectal cancer. The agreement is subject to approval by the shareholders of Bio-Thera at a meeting to be held in September. Under the terms of the agreement, Bio-Thera has agreed to grant BeiGene the right to develop, manufacture, and commercialize BAT1706 in China, including Hong Kong, Macau, and Taiwan. Bio-Thera will retain rights outside of the partnered territory. Bio-Thera will receive an upfront payment and is eligible to receive payments upon the achievement of regulatory and commercial milestones up to a total of $165 million. Bio-Thera will also be eligible to receive tiered double-digit royalties on future net product sales."
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XBIT | Hot Stocks08:16 EDT XBiotech receives EUA from FDA for COVID-19 CCP as a COVID-19 treatment - XBiotech announced that the FDA issued an emergency use authorization, or EUA, for COVID-19 Convalescent Plasma, or CCP, as a COVID-19 treatment, opening the door for XBiotech's antibody screening technology used to identify CCP. XBiotech collaborated with BioBridge Global to develop a test to detect human antibodies present in patient blood that specifically attack the COVID-19 virus. BioBridge Global, which provides blood products to hospitals through its subsidiary, the South Texas Blood & Tissue Center, is using XBiotech's test to identify human bloods from patients that have recovered from COVID-19-so called convalescent plasma. BioBridge utilizes the convalescent plasma to produce naturally immune blood products as treatment for patients hospitalized with the virus. While XBiotech's testing technology will be used as the first step in the production of anti-COVID-19 convalescent blood products, XBiotech has also used the convalescent blood samples supplied by BioBridge to identify the precise genetic information present in individuals producing these natural antibodies against COVID-19. The company recently announced it had successfully discovered candidate True Human therapeutic antibodies based on this effort. The decision by the FDA to approve use of convalescent plasma comes from the Agency's review of scientific data developed over the past several months. These preliminary findings show that convalescent plasma is safe and effective in treating COVID-19, such that a 35% better survival rate has been observed in patients 30 days after receiving plasma treatment. Furthermore, there have been approximately 70,000 patients treated to date with no concerning safety signals. This data supports XBiotech's approach and technology for identifying therapeutic antibodies-which it does for a variety of diseases-from convalescent blood. By identifying and manufacturing the actual antibodies from convalescent patients, the company is able to produce candidate drug products with highly concentrated purified antibody. This approach allows the company to harness the body's immune response to the virus and make targeted therapies that could potentially be safe and effective.
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LMFA | Hot Stocks08:13 EDT LM Funding announces contracts with new associations - LM Funding said in a release, "LM Funding announced contracting with two additional South Florida condominium owners associations to provide funding for potential budget shortfalls resulting from the pandemic driven economic downturn. These new contracts add 8,000 doors to the Company's total door count for Associations under contract with active accounts to approximately 33,000. According to data from Community Association Institute (www.caionline.org) over 9.8 million people live in over 48,000 Florida condominium or homeowners associations. These community associations are not for profit corporations governed by board of directors elected by property owners. The community associations pay for maintenance of common amenities with assessments collected from owners."
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CLDX | Hot Stocks08:13 EDT Celldex commences enrollment in CDX-527 study - Celldex announced that enrollment has opened in its open-label, Phase 1 study of CDX-527 in patients with advanced or metastatic solid tumors that have progressed during or after standard of care therapy. CDX-527 is the first candidate from Celldex's bispecific antibody platform. It uses Celldex's proprietary highly active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation, while preventing PD-1 inhibitory signals that subvert the immune response.
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IMVT JNJ | Hot Stocks08:11 EDT Immunovant appoints Michael Elliott as chief scientific officer - Immunovant (IMVT) announced the appointment of Michael Elliott as chief scientific officer. Elliott is a physician scientist with over 23 years of R&D industry experience. He spent 17 years in leadership roles at Johnson & Johnson (JNJ), serving most recently as VP of immunology scientific innovation. In that role he focused on clinical and scientific due diligence of new acquisition targets and developing partnerships between industry and academia. Michael's career at the Johnson & Johnson family of companies also includes experience in developing novel medicines, with particular focus on monoclonal antibodies, or mAb. As senior VP at J&J's Centocor, Elliott led the clinical development of mAb products in immune and inflammatory disorders from Phase 1 through 3, including the anti-TNF mAbs Remicade and Simponi for a broad range of inflammatory and rheumatic diseases, as well as the anti-IL-12/23 mAb Stelara for psoriasis.
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EXEL | Hot Stocks08:11 EDT Exelixis announces submission of sNDA to FDA for CABOMETYX - Exelixis said in a release, "Exelixis announced the submission of a supplemental New Drug Application, or sNDA, to the FDA for CABOMETYX in combination with Opdivo for patients with advanced renal cell carcinoma, or RCC. The sNDA is based on the results of CheckMate -9ER, a phase 3 pivotal trial evaluating CABOMETYX in combination with Opdivo compared with sunitinib in previously untreated patients with advanced or metastatic RCC. Exelixis and Bristol Myers Squibb announced in April 2020 that the trial met its primary endpoint of significantly improving progression-free survival at final analysis, as well as the secondary endpoints of overall survival at a pre-specified interim analysis, and objective response rate. Preliminary assessment showed a favorable safety profile, with a low frequency of treatment discontinuations due to adverse events. The detailed results of CheckMate -9ER will be presented during the upcoming European Society of Medical Oncology Virtual Congress 2020, during Presidential Symposium II on September 20."
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SWBI AOUT | Hot Stocks08:09 EDT Smith & Wesson Brands completes spin-off of American Outdoor Brands - Smith & Wesson Brands (SWBI) announced that it has completed the previously announced spin-off of its outdoor products and accessories business. Smith & Wesson Brands will continue to trade on NASDAQ under the ticker symbol "SWBI." The spin-off company, American Outdoor Brands (AOUT), will begin trading tomorrow on NASDAQ under the symbol "AOUT." The spin-off distribution was completed at 12:01 a.m. Eastern Time on August 24 to stockholders of record of SWBI as of the close of business on the record date of August 10. Each SWBI common stockholder received one share of AOUT common stock for every four shares of SWBI common stock held as of the record date.
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GH | Hot Stocks08:08 EDT Guardant Health receives EUA from FDA for Guardant-19 COVID-19 test - Guardant Health announced that the FDA has granted the Guardant-19 test emergency use authorization, or EUA, for use in the detection of the novel coronavirus, SARS-CoV-2. The test is being offered to Guardant Health employees and select partner organizations through the company's CLIA-certified clinical laboratory. The Guardant-19 test is a reverse transcriptase polymerase chain reaction next generation sequencing test that detects coronavirus SARS-CoV-2 nucleic acid from upper respiratory nasal specimens including nasopharyngeal swabs, oropharyngeal swabs, nasal swabs, interior nasal swabs, mid-turbinate nasal swabs, nasopharyngeal wash/aspirates, nasal aspirates and nasal washes. The test has a validated limit of detection of 125 copies per mL and results are typically returned the next day. The heavily multiplexed testing workflow used has the ability to scale to over 10,000 tests per day.
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CPK SO | Hot Stocks08:07 EDT Chesapeake Utilities partners with Atlanta Gas Light on CNG filling station - Chesapeake Utilities (CPK) announced that the company has entered into an agreement with Atlanta Gas Light, a wholly-owned subsidiary of Southern Company Gas (SO), for AGL to construct and maintain a compressed natural gas filling station at the Port Fuel Center located in Port Wentworth near the Port of Savannah in Georgia. The station will provide a strategic staging area and CNG supply source for the Company's Marlin Gas Services subsidiary's CNG virtual pipeline operations. Marlin is a premier North American supplier of mobile CNG utility and pipeline natural gas solutions, and the Savannah location will provide greater access to Marlin's customers in Georgia, South Carolina and North Carolina. The Port Fuel Center is a 15-acre fully permitted site with additional fueling amenities, restaurants and a convenience store. The Center will provide the full array of fueling choices, including diesel and gasoline, to serve the more than 12,000 trucks that pass the site daily. The CNG fueling station, which is slated to open in early 2021, has received the endorsement of the city of Port Wentworth and the Georgia Ports Authority
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CGIX | Hot Stocks08:06 EDT Cancer Genetics, StemoniX enter definitive merger agreement - Cancer Genetics and StemoniX announced the entry into a definitive merger agreement. StemoniX, a private company, develops high-throughput disease-specific human organoid platforms integrated with data science technologies. Under the terms of the merger agreement, StemoniX will merge with a newly formed subsidiary of Cancer Genetics in an all-equity transaction. Upon shareholder approval, the combined company expects to remain listed on the Nasdaq Stock Market. StemoniX will retain its name and become a wholly-owned subsidiary of Cancer Genetics. The transaction will position the combined company to obtain the synergies between two modalities of drug discovery and development, advanced animal models and relevant human high-throughput organoid platforms. In combination, Cancer Genetics and StemoniX currently have partnerships and R&D relationships with dozens of global pharmaceutical and biotechnology companies. Pursuant to the merger agreement, Cancer Genetics will acquire all of the outstanding capital stock of StemoniX in exchange for a number of shares of its common stock which will represent approximately 78% of the outstanding common stock of Cancer Genetics, subject to certain adjustments and prior to the effects of the financing referred to below, with the current equity holders of Cancer Genetics retaining 22% of the common stock immediately following the consummation of the merger. The boards of both companies have approved the proposed merger, which is expected to close in Q4, subject to the approval of the shareholders of both Cancer Genetics and StemoniX, financing and other customary closing conditions.
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CTLT AZN | Hot Stocks08:07 EDT Catalent signs agreement with AstraZeneca to expand COVID vaccine manufacturing - Catalent (CTLT) said in a release, "Catalent announced that Catalent Cell & Gene Therapy will provide drug substance manufacturing to AstraZeneca (AZN) for the University of Oxford's adenovirus vector-based COVID-19 vaccine, AZD1222, at Catalent's commercial gene therapy manufacturing facility located in Harmans, Maryland. Catalent will prepare the Harmans facility, close to Baltimore-Washington International airport, to enable multiple production trains to run in parallel to produce the vaccine candidate drug substance commencing late in the third quarter of 2020. This agreement expands Catalent's support of the AZD1222 program following the announcement in June that Catalent's facility in Anagni, Italy, will provide large-scale vial filling and packaging of AZD1222. The adenovirus vector-based vaccine candidate, AZD1222, was co-invented by the University of Oxford and its spin-out company, Vaccitech, and licensed by AstraZeneca. The vaccine candidate is currently in clinical trials."
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DHR | Hot Stocks08:04 EDT Danaher's Beckman Coulter launches SARS-CoV-2 IgM antibody test - Beckman Coulter announced the launch of its Access SARS-CoV-2 Immunoglobulin M assay. The new IgM antibody test demonstrated 99.9% specificity against 1,400 negative samples and 98.3% sensitivity at 15-30 days post-symptom onset. Of the tests developed by the top four in vitro diagnostic manufacturers capable of delivering high-volume testing to the U.S., Beckman Coulter's test is the only SARS-CoV-2 IgM assay which targets antibodies that recognize the receptor binding domain of the spike protein which SARS-CoV-2 uses to bind to a human cell receptor. This is significant as antibodies which target the RBD have the potential to be neutralizing and thus prevent future infection by blocking the virus from entering the cell.
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SFUN | Hot Stocks08:02 EDT Fang Holdings names Ke Wang as acting CFO, replacing Zijin Li - Ke Wang has been appointed as Fang's acting CFO to replace Zijin Li, effective August 31. Li has resigned from the company for personal reasons. His resignation did not result from any disagreement with the company on any matter relating to the company's operations, policies or practices. Prior to joining Fang, Wang was CFO of two companies in Beijing and has extensive experiences in financial management.
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GRWG | Hot Stocks08:01 EDT GrowGeneration falls after CEO Lampert sells $3.87M of shares - GrowGeneration CEO Darren Lampert disclosed the sale of 218,000 shares for prices of $19.39 and $16.53 on August 20 and 21, respectively. Lampert continues to own 1,113,914 shares of GrowGeneration. The stock in premarket trading is down 12% to $15.20. GrowGeneration was the subject of a short report Friday from Hindenburg Research and subsequently announced it will take legal action against the firm.
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UIS | Hot Stocks07:59 EDT Unisys announces pact with Inspire Health Alliance - Unisys announced a relationship with Inspire Health Alliance to support Inspire's offer of real-time COVID-19 registration, testing and access control that is both cost effective and scalable to organizations of any size. The solution combines content from Inspire and Unisys for companies looking to bring their employees back to offices, manufacturing facilities and transportation hubs, and students, faculty and staff back to schools. The portable, point-of-care testing machines, along with licensed healthcare administrators, are capable of administering both COVID-19 antibody and antigen tests, with test results available in under 15 minutes.
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WIT | Hot Stocks07:55 EDT Wipro announces SIMM solution partnership with Quaternion Risk Management - Wipro announced a partnership with standard initial margin model, or SIMM, vendor, Quaternion Risk Management. As part of the collaboration, Wipro will offer SIMM-in-a-box to financial institutions covered under uncleared margin rules, or UMR. The offering will allow financial institutions to calculate trade sensitivities, generate common risk interchange format file and calculate initial margin in-house. The solution includes back testing, benchmarking and preparing documentation required for regulatory approval. It also offers independent model validation of a firm's own internal SIMM solution, aggregate average notional amount calculation and initial margin exchange threshold calculation/simulation. The partnership aims to provide cost efficiencies and seamless integration with clients' internal systems, while maintaining full control over sensitive trade information.
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PHR | Hot Stocks07:47 EDT Phreesia appoints Allison Hoffman as General Counsel - Phreesia has named Allison Hoffman as its General Counsel, effective August 24. Phreesia said in a release, "Hoffman joins Phreesia from Intersection, a digital technology company focused on improving life in cities and public spaces, where she served as Chief Legal & Administrative Officer since 2016. As General Counsel, Hoffman will oversee Phreesia's Legal, Compliance, Risk, Privacy and Security teams."
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ECOR | Hot Stocks07:46 EDT electroCore announces proposed contract with NHS England cited in OJEU - electroCore said in a release, "electroCore announced that the Official Journal of the European Union, or OJEU, has published a Voluntary ex-ante Transparency Tender Notice on behalf of NHS England, citing electroCore as the sole supplier of non-invasive vagus nerve stimulation therapy to patients within NHS England. The award will provide further funding for the continued use of gammaCore for the treatment of cluster headache for patients who respond to the therapy. The proposed contract will run for 6 months from October 1, 2020 to March 31, 2021. The proposed contract includes the option to extend for up to 3 years beyond March 31, 2020."
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ONTX | Hot Stocks07:43 EDT Onconova announces INSPIRE study fails to meet primary endpoint - Onconova announced that INSPIRE, the company's pivotal Phase 3 study assessing the efficacy and safety of IV rigosertib in higher-risk MDS, or HR-MDS, patients, did not meet its primary endpoint of improved survival. The primary endpoint of the trial was overall survival, comparing IV rigosertib plus best supportive care to physician's choice, or PC, plus best supportive care in patients who had progressed on, failed to respond to, or relapsed after previous treatment with a hypomethylating agent, or HMA, within nine cycles over the course of one year after initiation of HMA treatment. A pre-specified analysis in the very high risk, or VHR-MDS, patient subgroup was also conducted. Results of INSPIRE demonstrated that in the intent-to-treat analysis patients randomized to IV rigosertib achieved overall survival of 6.4 months, versus 6.3 months for PC in the overall HR-MDS population. Overall survival in the pre-specified VHR-MDS subgroup of patients was also not significantly different between the two study arms. There was an increase in overall survival in the PC arm post-interim analysis that was unexpected. The company is conducting additional analyses. Safety analysis indicates that IV rigosertib was generally well tolerated, with reported adverse events similar to those observed in previous clinical studies with IV rigosertib in MDS. Serious adverse events, or SAEs, were uncommon, with a similar profile of SAEs in both study arms.
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AKTS | Hot Stocks07:41 EDT Akoustis announces order from tier-1 enterprise-class customer - Akoustis Technologies announced that it has received its first order for its recently announced tandem WiFi 6E coexistence filter solution from a tier-1 enterprise class customer. Akoustis said in a release, "The 5.5 GHz and 6.5 GHz WiFi 6E XBAW filters will be tested by the customer for a next generation enterprise MU-MIMO platform that is expected to ramp production in the first half of calendar 2021. With the introduction of the 6.5 GHz filter last week, Akoustis is now the only company to offer a complete BAW-based WiFi 6E filter solution for the emerging WiFi 6E standard. The potential market for the Company's WiFi 6E filter solutions include dual-band to quad-band CPE WiFi routers as well as mobile phones, laptops, tablets, and gaming devices once wafer-level-packaging is completed later this year."
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ANPC | Hot Stocks07:39 EDT AnPac Bio Philadelphia lab gains U.S. CLIA lab certification - AnPac Bio said in a release, "AnPac Bio-Medical Science announced that the company received a certificate of registration this month under the U.S. Clinical Laboratory Improvement Amendments of 1988, or CLIA, for its approximately 7,000 square foot lab in Philadelphia, Pennsylvania. The AnPac Bio Philadelphia lab is dedicated to cancer differentiation analysis, or CDA, liquid biopsy research as well as various other commercial diagnostic testing."
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BNFT BLKB | Hot Stocks07:37 EDT Benefitfocus CEO Raymond August steps down, Stephen Swad succeeds - Benefitfocus (BNFT) announced that Stephen Swad, the company's CFO, is named president and CEO, effective immediately. Swad succeeds Raymond August, who is stepping down as president and CEO. August will remain with the company through the end of the year. Swad also succeeds August as a director on the Benefitfocus board of directors. Swad is familiar with Benefitfocus, having served as CFO since July 2019 and previously as a member of the board. Throughout his career in the technology industry, he has built expertise in business, operations, finance and accounting. Prior to Benefitfocus, Swad served as CFO of Vox Media from 2016 until July 2019. Benefitfocus also announces the appointment of Alpana Wegner as CFO. Since joining Benefitfocus in 2017, she was quickly promoted to corporate controller and has taken on increasing financial and operational responsibility, drawing on her business, accounting, sales and compliance experience. She previously served in various roles at Blackbaud (BLKB), including vice president of sales operations and CFO of the enterprise customer business unit.
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ODT | Hot Stocks07:37 EDT Odonate Therapeutics says CONTESSA Phase 3 study met primary endpoint - Odonate Therapeutics said in a release, "Odonate Therapeutics announced positive top-line results from CONTESSA, a Phase 3 study of tesetaxel in patients with metastatic breast cancer, or MBC. CONTESSA is a multinational, multicenter, randomized, Phase 3 study of tesetaxel, an investigational, orally administered taxane, in patients with MBC. CONTESSA is comparing tesetaxel dosed orally at 27 mg/m2 on the first day of each 21-day cycle plus a reduced dose of capecitabine (1,650 mg/m2/day dosed orally for 14 days of each 21-day cycle) to the approved dose of capecitabine alone (2,500 mg/m2/day dosed orally for 14 days of each 21-day cycle) in 685 patients randomized 1:1 with human epidermal growth factor receptor 2, or HER2, negative, hormone receptor, or HR, positive MBC previously treated with a taxane in the neoadjuvant or adjuvant setting. Capecitabine is an oral chemotherapy agent that is considered a standard-of-care treatment in MBC. Where indicated, patients must have received endocrine therapy with or without a cyclin-dependent kinase, or CDK, 4/6 inhibitor. The primary endpoint is progression-free survival, or PFS, as assessed by the Independent Radiologic Review Committee, or IRC. The secondary efficacy endpoints are overall survival, or OS, objective response rate, or ORR, as assessed by the IRC and disease control rate, or DCR, as assessed by the IRC. CONTESSA is being conducted at 180 investigational sites in 18 countries in North America, Europe and Asia. CONTESSA met the primary endpoint of improved PFS as assessed by the IRC. Median PFS was 9.8 months for tesetaxel plus a reduced dose of capecitabine versus 6.9 months for the approved dose of capecitabine alone, an improvement of 2.9 months. The risk of disease progression or death was reduced by 28.4%; for tesetaxel plus a reduced dose of capecitabine versus the approved dose of capecitabine alone."
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BNGO | Hot Stocks07:34 EDT Bionano Genomics acquires Lineagen for $9.6M in cash, shares and liabilities - Bionano Genomics announced that it has acquired Lineagen, a Salt Lake City, Utah based genetic diagnostic company. Bionano said it aims to revolutionize clinical genome testing and genomics research by making comprehensive structural variation analysis a routine process that is accurate, streamlined, efficient and cost effective. Lineagen specializes in pediatric neurodevelopmental disorders, including autism spectrum disorder and developmental delay, and has developed proprietary technology and commercialized multiple laboratory developed tests, or LDTs. With the acquisition of Lineagen, Bionano adds CLIA-certified diagnostic testing services along with expertise in commercializing cytogenetic assays, genetic counseling, third party payor contracts and reimbursement. Bionano paid approximately $9.6M in consideration for Lineagen, consisting of 6,167,510 shares of Bionano's common stock, approximately $1.7M in cash and assumption of approximately $2.9M in liabilities. Concurrent with the closing of the merger, Bionano also paid approximately $1.1M to satisfy outstanding principal and accrued interest amounts due pursuant to a Paycheck Protection Program loan issued to Lineagen under the Coronavirus Aid, Relief, and Economic Security Act. Lineagen was advised by Evolution Life Science Partners in connection with the merger.
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SSNLF CARR | Hot Stocks07:31 EDT Samsung Electronics joins Carrier Alliance program - Carrier Global (CARR) is proud to announce that Samsung Electronics (SSNLF) has joined the Carrier Alliance program and signed a strategic long-term agreement with Carrier. Samsung will supply compressors and inverter technologies for use across Carrier's Residential HVAC portfolio. The agreement also specifies that Samsung will supply Carrier-branded replacement compressors, a benefit for Carrier contractors ordering aftermarket parts.
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SONN TTOO | Hot Stocks07:29 EDT Sonnet BioTherapeutics, T2 Biosystems up sharply on FDA plasma authorization - Shares of Sonnet BioTherapeutics (SONN) are up 66.5% at $4.38 and T2 Biosystems (TTOO) up 18.6% at $1.72 in pre-market trade following yesterday's FDA announcement issuing COVID-19 emergency use authorization for convalescent plasma.
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VIR | Hot Stocks07:15 EDT Vir Biotechnology, Harbour BioMed sign strategic collaboration - Harbour BioMed announced that it has entered into a strategic collaboration with Vir Biotechnology to discover, develop and commercialize potential novel therapeutic molecules in the fields of Immuno-Oncology and infectious diseases. HBM will leverage its tools in next-generation technologies including its transgenic Harbour Mice platforms to generate antibodies for the collaboration. Both parties will then combine their expertise in basic science to accelerate the development of these innovative immunotherapies into the clinic studies for patients suffering from cancers and infectious diseases.
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CTSO | Hot Stocks07:13 EDT CytoSorbents, Terumo Cardiovascular announce collaboration - Terumo Cardiovascular and CytoSorbents announced an initial collaboration to exclusively sell CytoSorb to hospitals in ten U.S. COVID-19 hotspot states including Alabama, Arizona, California, Georgia, Louisiana, Mississippi, New Mexico, Oregon, Texas, and Washington. CytoSorb previously received Emergency Use Authorization by the U.S. FDA for use in adult, critically-ill COVID-19 patients with imminent or confirmed respiratory failure.
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LIVX | Hot Stocks07:12 EDT LiveXLive Media partners with Strax Networks - LiveXLive Media announced that it has partnered with Strax Networks Inc. to bring its augmented reality StraxAR SaaS platform to LiveXLive. The two companies will collaborate to bring Strax Networks' new augmented reality technology across the LiveXLive platform and its vast OTT distribution network.
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KMDA ADMA | Hot Stocks07:12 EDT Kamada, ADMA Biologics soar on FDA COVID authorization for convalescent plasma - Shares of Kamada (KMDA) are up 22.6% at $12.26 and ADMA Biologics (ADMA) are up 72.6% at $4.36 in early pre-market trade following yesterday's FDA announcement issuing COVID-19 emergency use authorization for convalescent plasma. The companies are among the potential beneficiaries given their efforts in plasma-derived therapeutics and plasma collection in COVID-19.
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GSB | Hot Stocks07:11 EDT GlobalSCAPE announces expiration of 'go-shop' period - GlobalSCAPE announced the expiration of the 35-day "go-shop" period provided for under the terms of the previously announced definitive merger agreement, pursuant to which HelpSystems will acquire all outstanding shares of GlobalSCAPE for $9.50 per share in cash. Pursuant to the merger agreement, GlobalSCAPE, with the assistance of Stephens Inc., its financial advisor, actively solicited alternative transaction proposals from third parties during the period which ended at 12:01 a.m. on August 24, 2020. During this process, GlobalSCAPE contacted 186 parties and engaged with 8 parties. GlobalSCAPE did not receive any alternative transaction proposals from any third parties during this period. Following the expiration of the "go-shop" period, GlobalSCAPE became subject to customary "no-shop" restrictions that limit its and its representatives' ability to solicit alternative transaction proposals from third parties, subject to customary "fiduciary out" provisions. As previously disclosed, under the terms of the merger agreement between GlobalSCAPE and HelpSystems, HelpSystems has agreed to acquire all of the outstanding shares of GlobalSCAPE for $9.50 per share. The transaction is structured as a tender offer, followed by a merger. The tender offer commenced on July 31, 2020 and expires one minute after 11:59 p.m. on August 27, 2020, unless the tender offer is extended or earlier terminated pursuant to its terms.
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BWAY | Hot Stocks07:10 EDT Brainsway receives 510(k) clearance from FDA for Deep TMS system - BrainsWay announced that it has received 510(k) clearance from the FDA for the company's deep transcranial magnetic stimulation, or Deep TMS, system for its use as an aid in short-term smoking cessation in adults. "This FDA clearance represents a significant milestone for BrainsWay and our Deep TMS platform technology," stated Christopher von Jako, president and CEO of BrainsWay. "Smoking is one of the leading causes of death in the U.S. and also leads to other serious conditions, such as lung cancer and heart disease. While other therapies are currently available, a substantial medical need continues to exist for treatments that can increase the continuous quit rate among smokers. Based on the compelling data from our large, randomized pivotal study of 262 subjects, we are confident that our Deep TMS technology can play an important role in treating cigarette smokers who seek to quit. We look forward to executing a controlled U.S. market release of our newly cleared and proprietary H4 Deep TMS coil for this indication early next year."
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NUAN | Hot Stocks07:09 EDT Nuance, MITRE announce strategic collaboration - Nuance and MITRE announced a strategic collaboration to advance the mCODE data standard for improved cancer research and treatment using the AI-powered Nuance Dragon Medical One solution. Clinicians can now populate vital cancer data directly into electronic health records using their voice, which will improve the quality of documentation and reduce data entry burden for oncologists. Improved cancer patient data is critical to support analytics that can identify safer care, lead to improved outcomes, and lower costs.
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NNBR | Hot Stocks07:07 EDT NN, Inc. announces sale of Life Sciences division for $825M - NN, Inc. announced a definitive agreement under which NN, Inc.'s Life Sciences division will be purchased by affiliates of American Securities for the purpose of being combined with its portfolio company, MW Industries, a provider of highly engineered springs, specialty fasteners, bellows and other precision components. Under the terms of the transaction, the Life Sciences division will be purchased for $825M, including $755M in cash payable at closing of the transaction and an additional $70M earnout payable in cash based on the 2022 performance of the Life Sciences division. The transaction is expected to be completed in the fourth quarter of 2020, subject to customary closing conditions. Following the close of the transaction, the Life Sciences division will combine with MW Industries. NN plans to use the estimated $700M in net proceeds from the sale to further pay down its debt and strengthen its balance sheet, providing the company with greater ability to continue to navigate the macroeconomic and business challenges related to COVID-19. NN expects to reduce its net leverage from approximately 6.1x to approximately 1.8x post transaction close, reflecting a pro forma debt to capital ratio of approximately 35%, down from 75%. The sale of Life Sciences furthers NN's efforts to strengthen its balance sheet and create greater financial flexibility in order to drive improved performance and enhance shareholder value over the long term. It follows a comprehensive review of NN's businesses initiated by the company in November 2019, whereby NN evaluated a broad range of operational, financial and strategic alternatives to reduce leverage and enhance shareholder value. These options included further cost savings and cash generation initiatives, capital allocation opportunities, and the sale of NN, Inc. or one or more of its businesses.
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CODA | Hot Stocks07:07 EDT CODA announces 'significantly advanced development' of Next-GEN 2.0 DAVD - Coda Octopus Group, or CODA, said in a release, "CODA announced that its R&D team had accelerated the development of the GEN 2.0 Diver Augmented Vision Display, or DAVD, system during the pandemic shutdown and is making significant progress on completing the DAVD GEN 2.0 developments. CODA had previously released the GEN 1.5 upgrade, with fully integrated diver head tracking in the head-up display, or HUD, just prior to the pandemic shutdown. It is expected that a rapid and smooth transition to GEN 2.0 capabilities will occur in late 2020. CODA also announced the successful development of a DAVD companion product, a diver-specific Echoscope4G C500 Inspector solution that includes a custom rapid-deployment frame for surface or seafloor deployment. Coda Octopus Products has started to receive initial orders for DAVD GEN 1.0 systems, GEN 1.5 Upgrades and the companion DAVD C500 Inspector System. The ground-breaking DAVD diver management system is funded by the Office of Naval Research through its Future Naval Capabilities program, and continues to be managed by NAVSEA 00C3. The DAVD Launch Team - comprised of Coda Octopus 3D experts, NAVSEA Master Divers and Naval Surface Warfare Center, Panama City Division engineers - is currently trialling the newly developed DAVD GEN 2.0 features, during its GEN 1.0 roll-out to the U.S. Navy Fleet. The roll-out program restarted in mid-July after a delay since early March, due to the restriction of movement."
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EYPT | Hot Stocks07:06 EDT EyePoint enters purchase, marketing agreement with Vantage for Dexycu - EyePoint announced that it has entered into a purchase and marketing agreement with Vantage Outsourcing for Dexycu 9%. Vantage Outsourcing is a cataract surgical service provider to a variety of hospitals, ambulatory surgery centers and physicians. The agreement will enable customers in the Vantage Outsourcing network, which spans over a 25 state service area, to incorporate Dexycu into their surgical protocols for treating ocular inflammation associated with cataract surgery.
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FCPT SRG | Hot Stocks07:04 EDT FCPT announces second outparcel portfolio with Seritage Growth Properties - Four Corners Property Trust (FCPT) said in a release, "FCPT announced that it has signed an amendment to the deal originally announced on October 30, 2019, for the purchase of nine additional single tenant outparcel properties from Seritage Growth Properties (SRG) for $27.3 million. The transaction is priced at a cap rate in a range consistent with past FCPT transactions. The transaction is expected to close in various tranches with the majority closing in 2020 and the remainder in 2021, subject to customary closing conditions and regulatory approvals. The nine outparcels span four restaurant brands, three bank branches and two retail brands. The properties in this transaction have contractual rent growth, net-lease structures and strong tenancy with credit-worthy operators. The retail outparcels are located within highly trafficked and populated corridors in California, Louisiana, Maryland, Michigan, South Carolina, Utah, Wisconsin and Virginia. Of the nine leases, eight are with the brand's corporate entities and one is with a franchisee. Each property has a separate individual lease and the leases have a weighted average remaining term of approximately 9 years. The aggregate portfolios between FCPT and Seritage Growth Properties totaled $96 million / 32 properties, of which $45 million / 14 properties have closed to date. After adjusting for certain properties that have been removed from the first portfolio, FCPT currently has $36 million / 13 properties remaining under contract to acquire from Seritage Growth Properties."
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TRVN | Hot Stocks07:03 EDT Trevena announces ICL initiation of TRV027 study in COVID-19 patients - Trevena announced Imperial College London, or ICL, has initiated a proof-of-concept study for TRV027 in COVID-19 patients. Through an ongoing collaboration with ICL, the company is evaluating the potential of TRV027 to treat acute lung damage and abnormal blood clotting associated with COVID-19. ICL is sponsoring and funding the study, with additional support through the British Heart Foundation Centre for Research Excellence Award. This is a randomized, double-blind, placebo-controlled study that will enroll approximately 60 hospitalized, non-ventilated patients aged 18 or older with a confirmed COVID-19 infection. The primary objective of the study is to evaluate whether TRV027 reduces abnormal clotting associated with COVID-19. The study will also assess the effect of TRV027 on lung function and other clinical outcomes. The Company currently expects to report topline data in Q1 2021.
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PTI | Hot Stocks07:03 EDT Proteostasis, Yumanity Therapeutics announce merger agreement - Yumanity Therapeutics and Proteostasis Therapeutics announced that the companies have entered into a definitive merger agreement. The combined company, operating under the name Yumanity Therapeutics, will leverage a common scientific expertise in the area of protein misfolding to advance Yumanity's pipeline of innovative, disease-modifying programs for neurodegenerative diseases. Yumanity has raised more than $100M from leading investors that include Alexandria Venture Investments, Biogen, Fidelity, Merck, Pfizer, Redmile Group, and Sanofi Ventures. The company also recently entered into a strategic research collaboration with Merck for the discovery and development of novel agents for the treatment of ALS and FTLD with Yumanity eligible to receive future payments totaling approximately $500M in addition to royalties on the net sales of any marketed products. Upon the anticipated closing of the merger between PTI and Yumanity, Richard Peters, M.D., Ph.D., President, CEO and Director of Yumanity, will become President, CEO and Director of the combined company. Under the terms of the merger agreement, PTI will acquire all outstanding shares of Yumanity in exchange for newly-issued shares of PTI common stock. Upon completion of the proposed acquisition, it is anticipated that existing PTI shareholders will own approximately 32.5% of the combined company and Yumanity shareholders will own approximately 67.5% of the combined company. The actual allocation will be subject to adjustment based on each company's outstanding equity ownership and Proteostasis' net cash balance at the time of closing of the merger. Following completion of the merger, the Yumanity Board of Directors will be expanded to nine persons to include the appointment of two current Proteostasis directors. The existing Yumanity Directors will continue to serve in their current positions and Dr. Coles will remain as chairperson. The transaction has been approved by the boards of directors of both companies. The merger is expected to close in the fourth quarter of 2020, subject to customary closing conditions, including approval of the merger by the shareholders of PTI. The combined company is expected to trade on the NASDAQ Global Market under the ticker symbol YMTX. In conjunction with this merger announcement, PTI has reduced its workforce by 79%. As of today, PTI has five full time employees supporting the proposed merger transaction and strategic efforts related to PTI's CF assets.
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BMY | Hot Stocks07:00 EDT Bristol-Myers to acquire Forbius, terms not disclosed - Bristol Myers Squibb (NYSE: BMY) and Forbius, a privately held, clinical-stage protein engineering company that designs and develops biotherapeutics for the treatment of cancer and fibrotic diseases, announced that they have entered into a definitive agreement under which Bristol Myers Squibb will acquire Forbius. Forbius has developed a portfolio of highly selective and potent inhibitors of TGF-beta 1 & 3, which are key mediators of immunosuppression and fibrosis. The transaction includes an upfront payment and future success-based milestone payments. Prior to closing, Forbius' non-TGF-beta assets will be transferred to a newly formed private company, which will be retained by Forbius' existing shareholders. The companies anticipate completing the transaction in the fourth quarter of 2020, subject to the satisfaction of customary closing conditions. Under this transaction, Bristol Myers Squibb would acquire Forbius's TGF-beta program, including the program's lead investigational asset, AVID200. TGF-beta is a key cytokine that regulates various cell processes, including regulation of the immune system. Selective inhibition of TGF-beta 1 & 3 may enhance anti-tumor efficacy by acting synergistically with immunotherapy. Bristol Myers Squibb intends to initially focus research and development efforts of AVID200 in oncology and may consider advancing the asset in other disease areas, such as fibrosis.
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AVNT | Hot Stocks06:52 EDT Avient appoints Jamie Beggs as CFO - Avient said in a release, "Avient has announced that Jamie Beggs has joined the company as Senior Vice President, CFO. She replaces Bradley Richardson who has decided to retire later this year after an exceptional career, including the last seven as CFO at Avient. Beggs most recently served as CFO of Hunt Consolidated."
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PLX | Hot Stocks06:52 EDT Protalix completes treatment period of BRIGHT trial of PRX-102 - Protalix announced completion of the treatment period of its Phase III BRIGHT clinical trial of pegunigalsidase alfa, or PRX-102, for the proposed treatment of Fabry disease. The company is currently working with its service providers to complete the final monitoring visits necessary for final analysis of the data; however, many sites are still impacted by ongoing local and state restrictions and precautions due to the COVID-19 pandemic. The company anticipates announcing top-line results in Q4 once this process is completed.
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NBL CVX | Hot Stocks06:51 EDT Noble Energy announces special meeting to approve merger with Chevron - Noble Energy (NBL) announced that the Special Meeting of Shareholders to approve the pending combination with Chevron (CVX) is scheduled to take place on Friday, October 2 at 10:00 am Central time. The Record Date for Noble Energy shareholders entitled to vote at the Special Meeting is the close of business on Friday, August 21.
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USAP | Hot Stocks06:49 EDT Universal Stainless & Alloy adopts Tax Benefits Preservation Plan - Universal Stainless & Alloy announced that its Board of Directors has adopted a Tax Benefits Preservation Plan designed to protect the availability of the Company's existing net operating loss carryforwards, tax credit carryforwards and other tax attributes, which can potentially be utilized in certain circumstances to reduce the company's future income tax obligations. As of December 31, 2019, the company had estimated U.S. federal NOLs of approximately $8.6M, state NOLs of approximately $8.8M, U.S. federal tax credit carryforwards of approximately $5.2M and state tax credit carryforwards of approximately $0.2M. The company expects its Tax Benefits to increase during 2020. The company's ability to use its Tax Benefits would be substantially limited if it were to experience an "ownership change," as defined under Section 382 of the Internal Revenue Code. In general, a corporation would experience an ownership change if the percentage of the corporation's stock owned by one or more "5% shareholders," as defined under Section 382 of the Tax Code, increases by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. The Plan reduces the likelihood that changes in the company's investor base would limit the company's future use of its Tax Benefits, which would significantly impair the value of such Tax Benefits. The company believes that no ownership change has occurred as of the date of this press release. The Board intends to ask stockholders to ratify the Plan at the company's next annual meeting of stockholders.
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MRK | Hot Stocks06:46 EDT Merck's KEYTRUDA receives two new approvals in Japan - Merck announced that KEYTRUDA, Merck's anti-PD-1 therapy, has received two new approvals from the Japan Pharmaceuticals and Medical Devices Agency. KEYTRUDA monotherapy is now approved for the treatment of patients whose tumors are PD-L1-positive, and have radically unresectable, advanced or recurrent esophageal squamous cell carcinoma who have progressed after chemotherapy. Additionally, KEYTRUDA was approved for use at an additional recommended dosage of 400 mg every six weeks administered as an intravenous infusion over 30 minutes across all adult indications, including KEYTRUDA monotherapy and combination therapy. This new dosage option will be available in addition to the current dose of 200 mg every three weeks. With these approvals, KEYTRUDA has 13 indications across seven tumor types plus MSI-H tumors in Japan.
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PAE | Hot Stocks06:33 EDT PAE partners with Alion on $896M U.S. Navy task order - PAE has entered into a teaming agreement with Alion Science and Technology on a task order supporting the U.S. Navy's Integrated Training Environment initiative, which modernizes training for combat readiness. The total value of the Alion task order is $896M if all options are exercised. The primary purpose of the initiative is to provide an integrated program that will enable a continuous, multi-domain, live, virtual and constructive training platform across multiple physical locations throughout the Navy training enterprise. The award to Alion will integrate two training ranges, including the Southern California Off-Shore Range, into NITE. That training environment connects participants throughout the U.S. and in partner countries to live and virtual instruction. The task order includes a base year that may be extended through four one-year options.
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DLR | Hot Stocks06:32 EDT Digital Realty announces new long-term power purchase agreement in TX - Digital Realty said in a release, "Digital Realty announced it is expanding its renewable energy capacity in Texas with a new long-term power purchase agreement to source solar power for the company's Dallas-area data center portfolio from Pattern Energy's 82.5 MWac Phoenix Solar Project located in Fannin County, Texas. The company also announced that 2323 Bryan Street, a major regional connectivity hub in downtown Dallas, is being upgraded to meet the area's growing networking needs with additional colocation capacity. Digital Realty contracted 78% of the project's total capacity, approximately 65 MWac, with the remainder held by Pattern Energy Group LP, the project developer and owner. With the addition of this solar project, Digital Realty's entire Greater Dallas portfolio will be powered by 70% renewable energy once the Phoenix Solar project reaches commercial operation by mid-2021. This agreement marks the latest milestone in Digital Realty's continued focus on reducing its carbon footprint, in line with the Science Based Targets Initiative."
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GMHI | Hot Stocks06:20 EDT Luminar to merge with Gores Metropoulos - Luminar announced it has entered into a definitive agreement to merge with Gores Metropoulos, a special purpose acquisition company sponsored by an affiliate of The Gores Group. Upon completion of the transaction, the combined company will retain the Luminar Technologies, Inc. name and will remain listed on Nasdaq under the new ticker symbol "LAZR." The combined company will have an implied pro forma enterprise value of approximately $2.9B and an equity value of approximately $3.4B at closing. After giving effect to any redemptions by the public stockholders of Gores Metropoulos, the balance of approximately $400M cash held in Gores Metropoulos, together with the $170M in immediate financing proceeds, will remain in the company and a portion will be used to pay transaction expenses. As part of the transaction, Luminar's stockholders will receive approximately 271.8M shares of Gores Metropoulos common stock at closing. The $170M investment made directly into Luminar is led by institutional investors including Alec Gores, Van Tuyl Companies, Peter Thiel, Volvo Cars Tech Fund, Crescent Cove, Moore Strategic Ventures, Nick & Jill Woodman and VectoIQ, with the majority of the major existing investors participating. Net transaction proceeds will remain in the company and support continued growth across key verticals as Luminar executes on significant production and development opportunities. All current Luminar stockholders will roll the entirety of their existing equity holdings into the combined company. The transaction, which has been unanimously approved by the boards of directors of both Luminar and Gores Metropoulos, is expected to close in the fourth quarter of 2020, subject to regulatory and stockholder approvals, and other customary closing conditions. Following completion of the transaction, Luminar will retain its experienced management team. Founder Austin Russell will continue to serve as CEO and Tom Fennimore will continue to serve as CFO. Alec Gores will join the Luminar board of directors upon closing of the transaction.
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NGVT | Hot Stocks06:16 EDT Ingevity names John Fortson as CEO, effective September 1 - Ingevity announced that it has named John Fortson as the company's president and CEO, and that he would join the board of directors. Fortson had previously served as Ingevity's executive vice president, CFO and treasurer. The appointment will be effective September 1. Fortson joined Ingevity in October 2015 from AAR Corporation where he served as vice president, CFO and treasurer since July 2013.
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PSO DIS | Hot Stocks06:08 EDT Pearson names Disney executive Andy Bird as new CEO, effective October 19 - Pearson (PSO) announces the prospective appointment of Andy Bird as its new CEO, starting on 19th October, 2020. It is intended that John Fallon will continue as CEO until that date, when he will step down from the Board and remain as an advisor until the end of the year. Andy is currently a Non-Executive Director at Pearson plc and was appointed to the Board on 1st May, 2020. Most recently, Bird worked for The Walt Disney Company (DIS), as Chairman of Walt Disney International, responsible for the company's businesses outside of the U.S.
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KBR | Hot Stocks06:05 EDT KBR awarded two contracts by Ningxia Baofeng Energy for project in China - KBR has been awarded two contracts by Ningxia Baofeng Energy for its 500KTA coal to olefins project and 500KTA C2-C5 utilization project to be built in Ningdong Town, Lingwu City, Ningxia, China. Under the terms of the contracts, KBR will provide process technology licensing and process design packages for this project, which will have an annual production capacity of 1M tons of olefins. Once completed, the complex will be the largest single-train methanol to olefins, or MTO, plant in the world. KBR will use a combination of its Score steam cracking and MTO recovery technologies to achieve Baofeng Energy's project objectives of highest yields and lowest capital investment. The Score steam cracking unit will convert the ethane and propane feedstock into ethylene and propylene, which are later separated and further purified in the MTO recovery section to ensure the quality needed to produce polymer grade ethylene and propylene.
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MFH | Hot Stocks06:04 EDT Mercurity Fintech appoints Erez Simha as CFO - Mercurity Fintech said in a release, "Mercurity Fintech announced that Mr. Erez Simha has been appointed as CFO of the Company, effective August 24. Concurrently, Mr. Frank Zhigang Zhao has resigned as the CFO of the Company for personal reasons. Before joining MFH, Simha served as CFO and COO of two private technology companies."
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CHKP | Hot Stocks06:02 EDT Check Point announces partnership with edX - Check Point announced a new partnership with edX, a trusted Harvard and MIT-founded online learning platform used by 30M learners as well as the world's top-ranking universities and industry-leading companies globally. The partnership will offer a growing series of Check Point cyber-security courses and content to security and network professionals. All Check Point courses available on the edX platform are free of charge to remove the barrier of cost, location, and access to help reduce the skills gap.
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FAMI | Hot Stocks06:02 EDT Farmmi receives additional customer orders for export to U.S., Canada - Farmmi said in a release, "Farmmi announced its subsidiary Zhejiang Forest Food Co., Ltd., has received additional orders from an existing customer for its dried whole mushrooms and dried mushroom slices. The customer, a trading company, will export the mushrooms to the U.S. and Canada."
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ONEW | Hot Stocks06:01 EDT OneWater Marine acquires website domain, Boatsforsale.com, terms not disclosed - OneWater Marine announced that it has purchased the website domain, Boatsforsale.com, which will enhance its online marketplace for new and pre-owned boats, as well as financing & insurance.
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TAK BX | Hot Stocks05:55 EDT Takeda sells consumer healthcare business to Blackstone for 242B yen - Takeda Pharmaceutical (TAK) announced that it has entered into an agreement to divest Takeda Consumer Healthcare Company Limited, a wholly-owned subsidiary of Takeda focused on the consumer health care market primarily in Japan, to Oscar A-Co KK, a company controlled by funds managed by Blackstone Group (BX) and its affiliates for a total value of 242B yen. The transaction is expected to close by March 31, 2021. The portfolio to be divested to Blackstone includes a variety of over-the-counter medicines and health products that generated total revenues of over 60B yen in fiscal year 2019. The brands include Alinamin, Japan's first vitamin B1 preparation, and Benza, a cold remedy. Blackstone intends to develop the business together with current Takeda Consumer Healthcare management and continue to employ its employees, says Takeda.
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GRFS... | Hot Stocks05:21 EDT Grifols jumps after FDA issues emergency use authorization for plasma - Shares of Grifols (GRFS) are up 6%, or 94c, to $17.63 in premarket trading after the FDA issued an emergency use authorization for investigational convalescent plasma for the treatment of COVID-19 in hospitalized patients. The news is positive for Grifols which, together with CSL (CSLLY) and Takeda (TAK), is one of the main producers of plasma derivatives in the U.S., Equita analyst Gianmarco Bonacina told investors in a research note, according to Bloomberg.
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DQ | Hot Stocks05:18 EDT Daqo New Energy announces long-term supply agreement with Wuxi Shangji - Daqo New Energy said in a release, "Daqo New Energy announced that it signed a long-term high-purity polysilicon supply agreement with Wuxi Shangji Automation. Shangji started its mono-wafer manufacturing business in 2019 and has quickly been recognized as a high-quality mono-wafer provider. Under the supply agreement, Daqo New Energy will provide Shangji with high-purity mono-grade polysilicon in a total amount of 21,600 ~ 32,000 MT with 2,400 ~ 3,200 MT in the period from September to December 2020, 9,600 ~ 14,400 MT in 2021 and 9,600 ~ 14,400 MT in 2022. Actual prices will be negotiated by both parties on a monthly basis according to market conditions. As part of the supply agreement, Shangji will make an advance payment to Daqo New Energy."
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ASLN | Hot Stocks05:16 EDT ASLAN Pharmaceuticals resumes recruitment of new patients into ASLAN004 study - ASLAN said in a release, "ASLAN Pharmaceuticals announced the resumption of patient recruitment into its randomised, double-blind, placebo-controlled multiple ascending dose, or MAD, study of ASLAN004 in moderate to severe atopic dermatitis. ASLAN paused recruitment of new patients on 13 April 2020 in line with government restrictions enforced in Singapore to contain the spread of the coronavirus disease (COVID-19). Patients are now being recruited into the second of three dose cohorts at all screening sites in Singapore. To accelerate recruitment, ASLAN is in the process of opening additional study sites in Australia and the U.S. ASLAN expects to report interim, unblinded data from all 3 dose cohorts in Q4."
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FTFT | Hot Stocks05:15 EDT Future FinTech enters into LOI to acquire 60% stake in Asen Tech Group for $5.4M - Future FinTech said in a release, "Future FinTech announced it entered into a SHARE EXCHANGE Letter of Intent , or LOI, with Asen Tech Group Limited on Aug 18. Pursuant to the LOI, the Company's 100% owned subsidiary, DigiPay FinTeh Limited, plans to acquire 60% equity interest in Asen Maneuvre Group Limited in Indonesia from Asen Tech Group Limited. Through this acquisition, FTFT will obtain the Indonesian OJK and KSP financial licenses and enter into the financial technology business in Indonesian. The LOI is non-binding except for the "Confidentiality and Exclusivity" and "Applicable Law and Dispute Resolution" sections. Asen owns an OJK Fintech Lending license and a Koperasi Simpan Pinjam financial license, which are issued by Indonesian Financial Services Authority, Indonesian Ministry of Law and SME Regulatory Authority, respectively. Asen develops consumer finance business in Indonesia, through cooperation with Shopee, Tokopedia, Lazada, Bukalapak and other e-commerce companies. It provides loan services for consumers with its online service platform and currently has more than 3 million registered members of which more than 1 million are active members. According to the LOI, the acquisition price for 60% equity interest of Asen is expected to be approximately $5.4 million. FTFT plans to issue approximately 2.16 million shares of its Common Stock to Asen Tech Group Limited for the acquisition price. The acquisition also expects to have an earn-out clause based on Asen's performance for the next two years, which will require Asen to achieve a pre-tax profit for no less than $1 million and $1.4 million in 2020 and 2021, respectively, in order to receive the full share payment. FTFT is determined to implement its transformation strategy and enter into the financial technology industry. It entered into a Share Exchange Agreement on July 13 to acquire 90% ownership of Nice Talent Asset Management in Hong Kong, which is expected to close in the next couple weeks. The Company plans to improve the customers' experience in the consumer investment and financial management industry through the use of online platform whilst also saving costs and improving the company's profitability."
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MSFT... | Hot Stocks04:45 EDT Microsoft says Epic having access to Apple technology best for game makers - Microsoft''s head of Xbox said Sunday via Twitter, "Today we filed a statement in support of Epic's request to keep access to the Apple SDK for its Unreal Engine. Ensuring that Epic has access to the latest Apple technology is the right thing for gamer developers & gamers." Publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Nintendo (NTDOY), Take-Two (TTWO) and Ubisoft (UBSFY). Reference Link
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RIO | Hot Stocks04:41 EDT Rio Tinto executives will not receive performance-related bonus after review - Rio Tinto published the board review of cultural heritage management, following the destruction of the Juukan rockshelters in May 2020. The review "details what elements of Rio Tinto's systems, decision-making processes and governance failed to work as they should have and sets out recommendations to prevent a similar incident occurring in the future." The board review concluded that while Rio Tinto had obtained legal authority to impact the Juukan rockshelters, "it fell short of the Standards and internal guidance that Rio Tinto sets for itself, over and above its legal obligations." In light of the findings of the review, the board has decided that J-S Jacques, chief executive; Chris Salisbury, chief executive of Iron Ore; and Simone Niven, Group Executive, Corporate Relations, will not receive a performance-related bonus for 2020 under the company's Short-Term Incentive Plan. In addition, J-S's 2016 Long-Term Incentive Plan award, that is due to vest in the first half of 2021, will be reduced by GBP 1M.
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