Stockwinners Market Radar for October 12, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:22 EDT SPDR Gold Shares holdings rise to 1,277.65MT from 1,271.52MT - This is the highest level of holdings since September 22nd.

17:26 EDT Sorrento Therapeutics enters exclusive license agreement with PSC for MSC rights - Sorrento Therapeutics announced that it has entered into an exclusive license agreement with Personalized Stem Cells, or PSC, to acquire global rights to its adipose derived mesenchymal stem cells, or MSCs, for patients suffering from acute respiratory distress syndrome, or ARDS, associated with COVID-19, which have been cleared for a Phase 1 clinical trial by the FDA. The study is a single arm, non-randomized Phase 1 study of the safety and preliminary efficacy of an adipose-derived allogeneic MSC product candidate. The outcome data will be compared to contemporaneous non-enrolled patients at the same clinical site as the enrolled patients. The primary objective is to evaluate the safety of intravenous infusion of allogeneic adipose stem cells in patients with COVID-19 and in respiratory distress. The secondary objective is to evaluate a set of safety and efficacy outcome variables to give guidance regarding the risk/benefit ratio in patients with COVID-19 respiratory distress. Sorrento will be assuming responsibility for executing the Phase 1 trial, which is targeted to enroll about 20 hospitalized COVID-19 patients in California. Pending the results of the Phase 1 trial, Sorrento expects to expand into Phase 2 trials in multiple relevant geographies as may be determined in consultation with applicable regulatory authorities. Stem cells have been demonstrated to support resolution of symptoms in multiple disease settings and have the potential to reduce the long-term effects associated with pulmonary tissue damage for these patients. Stem cells represent a treatment modality with high potential to help in the fight against COVID-19 as a stand-alone therapy or in synergy with other product candidates in Sorrento's pipeline, including small molecules and neutralizing antibodies.

17:09 EDT Twitch Studio announces new 'tools to achieve pro quality streams' - Amazon's (AMZN) Twitch said in a blog posting, in part: "Since we first launched Twitch Studio we've continued to work with the community to provide even more features to help you take your streams to the next level. Today we're excited to share our latest batch of tools to help you achieve pro quality streams, whether you're brand new to Twitch Studio or have been using the app since day one. A Customizable and Flexible Interface: Design your Twitch Studio layout in a way that best suits your style and channel content. Control which panels you want to display and where exactly you want them placed by dragging and dropping to save time building your personalized layout. Editor Updates, Countdown Timer Chat Overlay, Dual-PC Support. Other publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Nintendo (NTDOY), Take-Two (TTWO) and Ubisoft (UBSFY). Reference Link

17:01 EDT Williams-Sonoma resumes share repurchase program - Given the on-going strength of its business and liquidity position, the company has also decided to resume its share repurchase program and has repaid in full the short-term borrowings under its $500M revolver. "Our decisions to increase our quarterly dividend, resume our share buyback program and pay down our revolver reflect the strength of our business and financial position, and our commitment to maximizing returns for our shareholders," said Laura Alber, President and CEO. "Our strong performance during this pandemic reinforces the relevance of our curated, sustainable products and the power of our digital-first platform. We are seeing an inflection point in our business and are more confident than ever in our strategies to deliver strong, long-term growth with increasing profitability."

16:41 EDT Saia opens new, 60% larger cross-dock facility in Memphis - Saia announced the opening of its new, larger Saia LTL Freight cross-dock facility in Memphis, Tennessee. The 200 door terminal continues includes an eight bay maintenance facility and a high speed fueling station. Saia will still employ nearly 300 team members at the new terminal, which has the space to accommodate an expansion over time as the company continues to see long-term growth both in Memphis and nationally. This is the third Saia re-location in the last couple of months. Saia recently moved its operations to new, larger facilities in Sherman and Wichita Falls, Texas. Earlier this year, Saia moved its Las Vegas, Nevada terminal and this November, it will be moving its Green Bay, Wisconsin operations to a new facility as well. "The new terminal is 60 percent larger than our previous facility and will allow us to meet the needs of our shippers today and for the foreseeable future," said executive VP of operations Paul Peck. "It's a significant investment in our network, and the community, and is another flagship facility that we are tremendously proud of."

16:38 EDT UDR appoints CyrusOne CFO Diane Morefield to its board - UDR (UDR) announced the appointment of Diane Morefield to its board effective October immediately. Morefield will serve as an independent director. Morefield has served as executive VP and CFO at CyrusOne (CONE) since joining the company in 2016.

16:31 EDT Synopsys unveils Silicon Lifecycle Management platform - The company states: "Synopsys unveiled its Silicon Lifecycle Management platform, the industry's first data-analytics-driven approach to optimizing SoCs from the design phase through to end-user deployment. The SLM platform, which is tightly coupled with Synopsys' market-leading Fusion Design Platform, will provide visibility into critical performance, reliability and security issues for the entirety of a chip's lifespan. It will enable new levels of insights for both SoC teams and their customers and provide the ability to optimize operational activities at each stage of the device and system lifecycles."

16:18 EDT Disney says reorganization in light of 'tremendous success' of Disney+

16:17 EDT Disney reorganizes businesses with more focus on DTC strategy - Disney announced a strategic reorganization of its media and entertainment businesses. Under the new structure, Disney's creative engines will focus on developing and producing original content for the company's streaming services, as well as for legacy platforms, while distribution and commercialization activities will be centralized into a single, global Media and Entertainment Distribution organization. The new Media and Entertainment Distribution group will be responsible for all monetization of content-both distribution and ad sales-and will oversee operations of the company's streaming services. It will also have sole P&L accountability for Disney's media and entertainment businesses. The creation of content will be managed in three distinct groups-Studios, General Entertainment, and Sports-headed by current leaders Alan F. Horn and Alan Bergman, Peter Rice, and James Pitaro. The Media and Entertainment Distribution group will be headed by Kareem Daniel, formerly President, Consumer Products, Games and Publishing. All five leaders will report directly to Bob Chapek, Chief Executive Officer, The Walt Disney Company. Disney Parks, Experiences and Products will continue to operate under its existing structure, led by Josh D'Amaro, Chairman, Disney Parks, Experiences and Products, who continues to report to Mr. Chapek. Rebecca Campbell will serve as Chairman, International Operations and Direct-to-Consumer. Bob Iger, in his role as Executive Chairman, will continue to direct the company's creative endeavors. Under the new structure, the Company's three content groups will be responsible and accountable for producing and delivering content for theatrical, linear and streaming, with the primary focus being the Company's streaming services. Horn and Bergman will serve as Chairmen, Studios Content, which will focus on creating branded theatrical and episodic content based on the company's powerhouse franchises for theatrical exhibition, Disney+ and the company's other streaming services. The group will include the content engines of The Walt Disney Studios, including Disney live action and Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios, Lucasfilm, 20th Century Studios and Searchlight Pictures. Rice will serve as Chairman, General Entertainment Content, which will focus on creating general entertainment episodic and original long-form content for the Company's streaming platforms and its cable and broadcast networks. The group will include the content engines of 20th Television, ABC Signature and Touchstone Television; ABC News; Disney Channels; Freeform; FX; and National Geographic. Pitaro will serve as Chairman, ESPN and Sports Content, which will focus on ESPN's live sports programming, as well as sports news and original and non-scripted sports-related content, for the cable channels, ESPN+, and ABC. With the reorganization, the Direct-to-Consumer and International business will no longer be managed on a combined basis. In Ms. Campbell's role leading international operations, she will be responsible for coordinating and integrating activities across the various business units in each market to best represent the Company's overall interests, and will report to Mr. Chapek. In her role leading direct-to-consumer operations for Disney+, Hulu and ESPN+, she will report to Mr. Daniel. The new structure is effective immediately, and the Company expects to transition to financial reporting under this structure in the first quarter of fiscal 2021.

16:16 EDT Invesco reports preliminary AUM $1.218T as of September 30 - A decrease of 2.2% versus previous month-end. Total net outflows were $0.7B. The firm achieved net long-term inflows of $1.4B this month.

16:15 EDT Ethan Allen says Q1 retail segment written orders up 10.8% y/y - Retail segment written orders continued to accelerate with growth of 10.8% over the prior year. Wholesale segment orders, while benefitting from the strong retail growth, were down 0.4% due to the timing of GSA and other government orders that were negatively impacted by COVID-19 pandemic related disruptions. Excluding GSA and other government orders, Wholesale segment orders booked were up 9.2% for the quarter.

16:13 EDT Ethan Allen sees Q1 consolidated gross margin of 56.8%

16:11 EDT Axis Therapeutics, a n Athenex and XLifeSc JV, in pact with h PharmaEssentia - Axis Therapeutics , a joint venture between Athenex and Xiangxue Life Sciences Limited, XLifeSc, announced that it has entered into a research collaboration with PharmaEssentia. The collaboration involves the development of T Cell Receptor, TCR-T therapy in Taiwan. Under the terms of the agreement, Axis Therapeutics and PharmaEssentia will collaborate to conduct an initial clinical study of Axis Therapeutics' TCRT-ESO-A2 therapy, targeting solid tumors that are NY-ESO-1 positive in HLA-A*02:01 positive patients, and to manufacture the investigational products, in Taiwan. PharmaEssentia will be responsible for all activities relating to the clinical development in Taiwan. Athenex recently announced that the U.S. Food and Drug Administration, FDA, has allowed the Investigational New Drug, mIND, application for this same compound. Dr. Johnson Lau, CEO of Athenex, and CEO of Axis Therapeutics, stated, "PharmaEssentia represents an important long-term partner of Athenex. We are excited to expand our relationship beyond the Orascovery and Src Kinase platforms to include a collaboration with Axis Therapeutics for the development of TCR-T therapy. We look forward to collaborating with PharmaEssentia on the development of this novel T-cell technology in Taiwan." Dr. Daniel Lang, President of Axis Therapeutics, added, "The agreement expands the longstanding relationship between Athenex and PharmaEssentia. We are excited to work with such a trusted partner to further advance our TCR-T therapy."

16:11 EDT Victory Capital reports September AUM $132.7B vs. $136.8B in prior month

16:06 EDT HealthStream acquires ShiftWizard for $32M in cash - HealthStream announced that it has acquired ShiftWizard, a Raleigh, North Carolina-based company focused on providing a SaaS-based solution that integrates key workforce management capabilities, including scheduling, productivity, and forecasting. HealthStream acquired ShiftWizard, Inc. for approximately $32.0M in cash, subject to working capital and other customary purchase price adjustments.

16:04 EDT Voyager Therapeutics provides update on VY-HTT01 IND - Voyager Therapeutics announced that it has received feedback from the FDA on the investigational new drug, or IND, submission for VY-HTT01 for the treatment of Huntington's disease. Voyager submitted the IND for VY-HTT01 in September and has been notified that the IND was placed on clinical hold pending the resolution of certain chemistry, manufacturing and controls, or CMC, matters. The company expects to receive specific feedback from the FDA on these matters within 30 days and plans to work closely with the agency to resolve them and promptly begin the clinical evaluation of VY-HTT01.

14:04 EDT Medley Capital trading resumes

13:32 EDT Bluerock Residential reports preliminary Q3 multifamily rent collections of 97% - Bluerock Residential Growth REIT provided a third quarter update on rent collections and occupancy. On a preliminary basis, for the third quarter of 2020, the company reported rent collections from its multifamily properties of 97%, including payment plans of 1%. The company's operating portfolio occupancy at September 30, 2020 was approximately 95.1%. "The company's continued stability is attributable to several factors, including the focus on knowledge economy markets, primarily in the south and west: the strategy to own Class A affordable luxury apartment communities; and a tenancy targeted towards knowledge economy renters by choice, including those employed in health care, technology, education, sciences, and finance, a demographic often characterized by healthier, more stable, wage-to-rent ratios," Bluerock stated.

12:07 EDT S&P raises issuer credit rating on Tesla to 'BB-' from 'B+' - S&P Global Ratings raised its issuer credit rating on Tesla to "BB-" from "B+" and raised its issue-level ratings on its unsecured debt to "BB-" from "B+," stating "improved execution, increasingly efficient production, and global expansion continue to strengthen the company's competitive position." S&P added: "The stable outlook reflects our view that Tesla's financial performance will stay in line with our expectations, namely: a weighted free operating cash flow to debt ratio above 5%, even as it expands its manufacturing footprint around the world."

12:00 EDT Manning & Napier falls -12.4% - Manning & Napier is down -12.4%, or -58c to $4.07.

12:00 EDT iHuman rises 23.2% - iHuman is up 23.2%, or $3.71 to $19.71.

12:00 EDT Acorn International rises 36.8% - Acorn International is up 36.8%, or $5.55 to $20.62.

10:04 EDT WEX Inc. trading resumes

10:00 EDT Huya falls -9.7% - Huya is down -9.7%, or -$2.51 to $23.28.

10:00 EDT ReneSola falls -13.8% - ReneSola is down -13.8%, or -57c to $3.58.

10:00 EDT Dillard's rises 24.0% - Dillard's is up 24.0%, or $10.11 to $52.19.

09:54 EDT Stephen King feels terrible for industry after seeing first movie in months - Author Stephen King said yesterday on Twitter: "I went to the movies last night. First time since February. No problem social distancing. Saturday night, 7 screens, 4 total customers including me and my nephew. I feel terrible for the film industry." Publicly traded companies in the movie space include AMC Entertainment (AMC), Cinemark (CNK), Cineworld Group (CNNWF), Imax (IMAX), Marcus (MCS) and National CineMedia (NCMI).

09:47 EDT Social Capital Hedosophia Holdings II rises 12.3% - Social Capital Hedosophia Holdings II is up 12.3%, or $2.61 to $23.85.

09:47 EDT Acorn International rises 33.3% - Acorn International is up 33.3%, or $5.03 to $20.10.

09:34 EDT Cloudflare spikes higher after announcing Cloudflare One - Cloudflare moves up 8% or $3.70 per share to 49.97 per share after announcing the company released Cloudflare One, "a comprehensive, cloud-based network-as-a-service solution for your workforce," "As more businesses rely on the Internet to operate, Cloudflare One protects and accelerates the performance of devices, applications, and entire networks to keep workforces secure. Now businesses can protect their workforce in a flexible and scalable way, without compromising security as distributed teams work from multiple devices and personal networks. "After decades of building legacy corporate networks, organizations are left with clunky systems designed to protect their now empty offices. The only way to secure today's work-from-anywhere economy is to secure each individual employee, protecting their individual networks, devices, and access to business-critical applications," said Matthew Prince, co-founder and CEO of Cloudflare. "With Cloudflare One, we're giving organizations of any size the power to solve their security and networking needs seamlessly, no matter how their business needs shift," noted the company.

09:32 EDT Chase First Banking announces new checking account designed for kids - Launching today, Chase First Banking is a new checking account with no monthly fees designed to help parents teach kids and teens about the importance of money management through the Chase Mobile app. The account was built by Chase in collaboration with Greenlight-a company on a mission to help parents raise financially smart kids. Exclusively for Chase retail deposit account customers, Chase First Banking accounts can be opened for free by parents, adult family members and legal guardians through their Chase Mobile app. Chase has over 54 million digitally active and 39 million mobile active customers. To learn more, including videos on how it works, visit Chase.com/FirstBanking starting today, or visit a Chase branch. In addition to Chase First Banking, the bank also offers checking and savings accounts for high school and college-aged youth.

09:26 EDT Carnival cancels Miami, Port Canaveral cruises for November - Carnival Cruise Line has notified guests and travel agents that it is cancelling the remaining cruises for the six total ships operating from PortMiami and Port Canaveral for November, 2020. It has also cancelled five cruises scheduled to operate from Sydney, Australia from Jan. 16 - Feb. 8, 2021. Following the U.S. Centers for Disease Control's decision to extend its no-sail order for cruise operations until Oct. 31, Carnival cancelled all but PortMiami and Port Canaveral cruises for the rest of the year. It has now determined that November 2020 operations will not be feasible. Carnival continues to work on protocols and procedures that would allow for the resumption of cruise operations, with a gradual, phased-in approach, designating Miami and Port Canaveral as the first two homeports for embarkations. Cruises currently scheduled for December from those two homeports remain in place for the time being while Carnival evaluates options. However, guests booked on cruises in December out of Miami and Port Canaveral still have the ability to voluntarily cancel their reservation and receive the same offer that all other impacted guests are receiving, which includes a combination future cruise credit and onboard credit, or a full refund. In Australia, Carnival is notifying guests and travel agents that five cruises on Carnival Splendor from Jan. 16 - Feb. 8, 2021 have been cancelled. Those guests will receive the same offer of the combination FCC/OBC, or a full refund.

09:21 EDT Zynex CEO: Order growth slightly lower than what we originally projected for Q3 - Thomas Sandgaard, CEO of Zynex said: "Similar to most companies we have seen the impact of the COVID-19 pandemic, not only on the availability of physicians to prescribe our products but also on navigating employee and supply chain issues. Our order growth during this pandemic has been encouraging with 96% growth year over year and 87% sequentially but was slightly lower than what we originally projected for Q3. During Q3, we continued to aggressively hire sales reps as we eclipsed 400 sales reps in early September. We expect to have approximately 500 sales reps in the U.S. by the end of 2020 and over 600 by the end of 2021."

09:12 EDT Famous Dave's signs 25-unit development deal to grow BBQ brand - Famous Dave's recently signed a 25-unit development agreement to grow the BBQ brand in select locations across the U.S., adding to its 125 existing locations. The BBQ franchise is partnering with Bluestone Hospitality Group to open both Famous Dave's ghost kitchens and dual restaurant concepts with the group's Italian brand, Johnny Carino's. Famous Dave's of America is a wholly owned subsidiary of BBQ Holdings.

09:08 EDT L3Harris to develop defense satellite system for Space Development Agency - L3Harris Technologies will develop and integrate an end-to-end satellite system under a $193M firm fixed-price contract for the Space Development Agency. L3Harris will support the agency with technology that will protect against advanced missiles, such as hypersonic. "L3Harris has brought a different perspective to this mission including our experience as a responsive space prime and decades of electro-optical and infrared payload development," said Ed Zoiss, President, Space and Airborne Systems, L3Harris. "We understand the mission and the need to move quickly, which we're able to do by drawing capabilities from across the company." L3Harris is prioritizing investments in end-to-end satellite solutions in spacecraft, payloads, ground software and advanced algorithms. L3Harris also supports the Missile Defense Agency's Hypersonic and Ballistic Tracking Space Sensor and the U.S. Space Force's Overhead Persistent Infrared Satellite Program.

09:07 EDT Qualys expands into China, partners with Digital China - Qualys announced it is expanding into China through the establishment of a Private Cloud Platform and a partnership with Digital China, the largest value-added provider of integrated IT products, solutions and support for enterprises in China. Digital China will manage and support the Qualys Private Cloud Platform from China and distribute and resell Qualys' leading cloud-based IT, security and compliance solutions.

09:05 EDT iClick Interactive Asia increases controlling interest in Changyi - iClick Interactive Asia Group announced that it has increased its controlling interest in Changyi Information Technology Co., Ltd, an independent software vendor in China which provides intelligent retail and CRM solutions, through which iClick has further enhanced its data-driven Enterprise Solutions business. Building on its success in the China market, iClick also anticipates the synergies generated from its increased stake in Changyi will help it expand into the regional market as well, especially the ASEAN market where the company has already formed strategic partnerships with top local partners.

09:04 EDT EVI Industries to acquire Yankee Equipment Systems for $13.5M in cash, stock - EVI Industries announced that it executed a definitive merger agreement to acquire Barrington, New Hampshire based Yankee Equipment Systems, a distributor of commercial laundry products and a provider of related technical installation and maintenance services. Yankee Equipment Systems is led by Peter Limoncelli. The company said this acquisition complements other EVI acquisitions completed in 2019, including the purchase of PAC Industries and Professional Laundry Systems. Limoncelli will also be named the president of EVI's Northeast Operations, which will consist of the operations of Yankee Equipment Systems, PAC Industries, and Professional Laundry Systems and include a combined 120 commercial laundry professionals serving customers throughout the region. The consideration to be paid by EVI in connection with this acquisition is $13.5M, which consistent with EVI's historical transactions, will be paid in a combination of cash and EVI common stock. The transaction is expected to close upon the satisfaction of closing conditions.

09:01 EDT Abbott receives FDA Emergency Use Authorization for COVID-19 IgM antibody test - Abbott announced that the U.S. FDA issued Emergency Use Authorization for the company's AdviseDx SARS-CoV-2 IgM lab-based serology test for use on the ARCHITECT and Alinity platforms. IgM antibody testing can play an important role in understanding if someone has developed antibodies in response to the virus, indicating a recent or prior infection. The new IgM antibody test is Abbott's latest test to support in the fight against COVID-19. Since the start of the pandemic, Abbott has received emergency use authorization for seven tests, including molecular tests, a rapid antigen test and an IgG antibody test.

08:43 EDT Barnes & Noble College introduce custom-branded version of First Day Complete - Barnes & Noble College announced it has partnered with Sam Houston State University in Huntsville, Texas, to introduce the Bearkat Bundle, a new course material delivery model that will drive affordability, access and convenience for students. The Bearkat Bundle is a custom-branded version of the Barnes & Noble College First Day Complete program. First Day Complete addresses affordability and equitable access across all courses at an institution by bundling the cost of materials into a flat rate fee for all students. The program results in a 35% to 50% average reduction in cost to students, and ensures they have all of their materials for the semester available to them before the first day of class. In addition, First Day Complete fully supports academic freedom and faculty choice. Faculty members can choose the materials that are best suited for their teaching, regardless of publisher or format.

08:35 EDT Alexion gets FDA Aaproval for Ultomoris - Alexion Pharmaceuticals announced the U.S. Food and Drug Administration, FDA, has approved ULTOMIRIS, ravulizumab-cwvz, 100 mg/mL formulation for the treatment of adults with paroxysmal nocturnal hemoglobinuria, PNH, and for atypical hemolytic uremic syndrome, aHUS, to inhibit complement-mediated thrombotic microangiopathy for adult and pediatric (one month of age and older) patients. ULTOMIRIS 100 mg/mL is an advancement in the treatment experience for patients with aHUS and PNH, as it reduces average annual infusion times by approximately 60 percent compared to ULTOMIRIS 10 mg/mL while delivering comparable safety and efficacy. With ULTOMIRIS 100 mg/mL, most patients will spend six hours or less a year receiving treatment. "We have seen the significant clinical benefits ULTOMIRIS has demonstrated for patients, through its complete C5 inhibition and sustained efficacy," said Jamile Shammo, M.D., FASCP, FACP, Professor of Medicine and Pathology, Department of Internal Medicine, Rush University Medical Center. "Based on the scientific evidence presented, the advanced formulation demonstrated comparable safety and efficacy to the original formulation, with the additional benefit of significantly shorter infusion times. This reduced treatment burden is important to consider for patients, as it has the potential to make a meaningful difference in their lives." Alexion plans to make ULTOMIRIS 100 mg/mL available within a few days and has comprehensive training plans to educate all stakeholders about the new formulation. ULTOMIRIS 10 mg/mL will continue to be available until mid-2021, at which time Alexion will remove ULTOMIRIS 10 mg/mL from the market, as communicated to the FDA. The transition period is intended to provide a seamless conversion to the new formulation without interruption to patients' infusion schedules. Regulatory filings for marketing authorizations of the 100 mg/mL formulation of ULTOMIRIS are under review with regulators in the European Union and Japan. The Committee for Medicinal Products for Human Use, CHMP, has recently adopted a positive opinion, recommending marketing authorization of ULTOMIRIS 100 mg/mL in the European Union, and we anticipate receiving a decision from the European Commission in November.

08:34 EDT Century Casinos partners with Tipico for internet sports betting in Colorado - Century Casinos announced that it has finalized an agreement with Tipico to become the company's third internet sports betting operator partner in Colorado. The company, through a subsidiary, has already obtained its master license with the State of Colorado. Tipico will complete the necessary application and approval process with the State of Colorado and will operate an internet and mobile sports betting application under the Tipico brand. The online sportsbook operations agreement with Tipico is a 10-year agreement that includes a one-time market access fee being paid to the company on contract signing, plus a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to the company each year.

08:20 EDT Sonoco to divest Europe contract packaging business for $120M - Sonoco announced it has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings, a Wisconsin-based contract packaging and contract manufacturing firm backed by The Halifax Group for $120M in cash. The transaction is subject to normal closing requirements and is expected to be completed in the fourth quarter of 2020. Sonoco's Europe contract packaging business produced net sales of approximately $300M in 2019 and provides full-service custom packaging and supply chain management solutions to global consumer product goods companies through six contract packaging facilities in three locations and a warehouse all in Poland. The business is part of Sonoco's Display and Packaging segment and has approximately 2,600 employees. According to Howard Coker, Sonoco President and CEO, the divestiture is part of the Company's efforts to simplify its operating structure to focus on growing its core Consumer and Industrial packaging businesses. Net proceeds from the transaction are expected to be used to reduce short-term debt and further improve the Company's strong liquidity position.

08:16 EDT Varian receives IDE from FDA for clinical trial of FLASH therapy - Varian announced the company has received an Investigational Device Exemption from the FDA for the first-ever clinical trial of FLASH therapy, an experimental treatment modality delivering radiation therapy at ultra-high dose rates. FLASH therapy, involving ultra-high dose rates, and delivery in typically less than one second, may be over 100 times faster compared to conventional radiation therapy. The study, named FAST-01, will involve the investigational use of Varian's ProBeam particle accelerator modified to offer this advanced non-invasive treatment option for patients with cancer. Varian anticipates enrollment of the first patient in the FAST-01 Feasibility Study by the end of 2020.

08:15 EDT ATIF collaborates with Workforce Development Board of San Bernardino County - ATIF Holdings announced that it has recently reached a collaboration arrangement with the Workforce Development Board of the San Bernardino County, California to foster local employment and reemployment. In July, ATIF established its new headquarters in the City of Rancho Cucamonga in the San Bernardino County within the Greater Los Angeles area, to expand its business to the North America market. Based on the collaboration arrangement, ATIF will recruit 100 experienced professionals with background in corporate business, marketing and financial market though the career center of San Bernardino WDB. These new talents to be recruited will actively focus on assisting ATIF to establish business relations with U.S. listed companies, and companies that are preparing to be listed on a stock exchange, in order for ATIF to provide investor relations services to these companies, such investor relations services include capital market strategic communications and various media programs. The purpose of the collaboration will also assist the San Bernardino WDB to mitigate the rising problem of unemployment during the current epidemic period, and to alleviate the financial difficulties faced by some local workers whom are no longer qualified for unemployment benefits. Additionally, ATIF is seeking licenses for providing financial services in the United States, and plans to diversify and expand its businesses into IPO underwriting, securities brokerage and asset management in the U.S market. To prepare for this, ATIF is launching a comprehensive talent recruitment program.

08:14 EDT Newgioco Group to install up to 400 new NGoy virtual operator terminals in Italy - Newgioco Group announced that through its wholly owned subsidiary Multigioco, the company plans to install up to 400 new self-service point of sale locations throughout Italy with the launch of NGoy virtual operator terminals. The company has commenced installations with the first 100 NGoy terminals to be operational in Italy by December and an additional 300 to be installed through 2021. Additionally, the company intends to expand deployment of the NGoy terminal in other European countries that permit regulated sports betting. The Newgioco design-built kiosk, commissioned under a previously announced agreement with VNE Produzione, is a self-service terminal that allows access to player gaming accounts for remote deposits and withdrawals along with the loading and re-loading of pre-paid cards, phone cards and a variety of other banking services including bill paying features.

08:12 EDT Bullfrog Gold signs agreements with Barrick Gold, Augusta Investments - Bullfrog Gold entered into definitive agreements with certain Barrick Gold Corporation subsidiaries and Augusta Investments in connection with the previously announced transaction pursuant to which Bullfrog will acquire rights to 1500 acres adjoining the Company's Bullfrog Gold Deposit from Barrick, and Augusta and certain individuals identified by Augusta will concurrently complete a C$22 million investment in Bullfrog. Upon completion of the Transaction, Barrick and Augusta will become significant shareholders in Bullfrog. Additionally, the Board of Directors and Management of the Company will be reconstituted upon closing such that Maryse Belanger will be appointed President, CEO and Director of the Company along with the appointment of Donald Taylor, Daniel Earle, and a Barrick nominee to the Company's Board of Directors. David Beling will remain on the Board. The Definitive Agreements formalize the terms in the binding term sheet dated September 7, 2020, and detailed in the Company's press release dated September 8, 2020. The Mineral Lease and Option to Purchase Agreement between a subsidiary of BFGC and Barrick dated March 23, 2015, as amended, has been terminated and the Barrick back-in right has been eliminated. A 2% NSR royalty granted to Barrick also decreases to a minimum 0.5% NSR royalty on certain Barrick lands already subject to royalties. Closing of the Transaction is expected to follow during the fourth quarter of 2020, subject to customary conditions, including certain government approvals and the approval of the Canadian Securities Exchange.

08:10 EDT Granite Point Mortgage announces internalization of management - Granite Point Mortgage Trust announced that it and its external manager, Pine River Capital Management As previously announced, Granite Point will make a one-time cash payment of $44.5M to Pine River in connection with the completion of the internalization. The internalization transaction, which was negotiated and approved by an independent committee of Granite Point's Board of Directors, is expected to be effective on December 31. At that time, the management agreement between the Company and Pine River will be terminated and Granite Point will no longer pay any management or incentive fees going forward.

08:08 EDT Unity Biotechnology doses first patient in Phase 1 study of UBX1325 - UNITY Biotechnology announced that the first patient has been dosed in a Phase 1 study of UBX1325 in patients with diabetic macular edema. The Phase 1, first-in-human, open-label, single-ascending dose study is designed to evaluate the safety, tolerability and pharmacokinetics of UBX1325 in patients with advanced DME. The trial is designed to enroll approximately 15 patients, with safety and tolerability data expected in the first half of 2021. UNITY anticipates initiating a proof of concept study in the first half of 2021.

08:08 EDT ATIF Holdings forms collaboration with San Bernardino WDB - ATIF Holdings announced that it has recently reached a collaboration arrangement with the Workforce Development Board of the San Bernardino County, California to foster local employment and reemployment. In July, ATIF established its new headquarters in the City of Rancho Cucamonga in San Bernardino County within the Greater Los Angeles area, to expand its business to the North America market. Based on the collaboration arrangement, ATIF will recruit 100 experienced professionals with background in corporate business, marketing and financial market though the career center of San Bernardino WDB. These new talents to be recruited will actively focus on assisting ATIF to establish business relations with U.S. listed companies, and companies that are preparing to be listed on a stock exchange, in order for ATIF to provide investor relations services to these companies, such investor relations services include capital market strategic communications and various media programs. The purpose of the collaboration will also assist the San Bernardino WDB to mitigate the rising problem of unemployment during the current epidemic period, and to alleviate the financial difficulties faced by some local workers whom are no longer qualified for unemployment benefits.

08:06 EDT Danaos repurchases 4,339,271 shares of common stock - Danaos announced it has repurchased 4,339,271 shares of its common stock for an aggregate purchase price of $31.1M in privately negotiated transactions, including 2,517,013 shares from the Royal Bank of Scotland and 1,822,258 shares from Sphinx Investment Corp. These transactions will result in the company's previously announced share repurchase program being terminated.

08:05 EDT General Electric gets FDA clearance for Vivid Ultra Edition - GE Healthcare announced U.S. FDA 510k clearance for its Ultra Edition package on Vivid1 cardiovascular ultrasound systems, which includes new features based on artificial intelligence, AI, that enable clinicians to acquire faster, more repeatable exams consistently. Methodical assessments of heart function are key in echocardiography but can be tedious and time-consuming to acquire. High quality data acquisition and operator skill are key elements to achieve accurate and complete exams. And, as patients undergo subsequent monitoring exams, the reproducibility of exam assessments is key to identifying improvement or disease progression. Vivid Ultra Edition brings increased efficiencies to the scanning process for reduced exam time through up to 80% fewer clicks3, 99% accuracy4 and less inter-operator

08:03 EDT eBay to authenticate sneakers $100+ in U.S. - eBay announces the expansion of its Authenticity Guarantee service for sneaker sales on the platform. Through this program, all new and pre-owned collectible sneakers sold on eBay for over $100 in the U.S. will be fully vetted and verified by an independent team of industry experts. The service launches this month with the initial authentication of the most popular sneaker styles and brands on the marketplace, and will ramp to include all $100+ sneaker sales by early 2021.

08:03 EDT NV5 Global awarded $4M USGS lidar survey contract - NV5 Global has been awarded a $4M contract by the United States Geological Survey to conduct a lidar survey across 16,981 miles in the State of Montana to support the 3D Elevation Program. This project was initiated by the Montana State Library and will provide valuable data for flood plain mapping and land management across lands of tribal nations and high hazard dam areas.

08:02 EDT GrowGeneration acquires Hydroponics Depot, terms not disclosed - GrowGeneration announced its acquisition of Hydroponics Depot, Phoenix's largest indoor and outdoor garden center. With the addition of Hydroponics Depot, GrowGen's portfolio of hydroponic garden centers now includes 29 stores across 11 states.

07:49 EDT HUYA trading resumes

07:36 EDT DouYu, Huya enter stock-for-stock merger agreement - Huya (HUYA) and DouYu International Holdings (DOYU) announced that they have entered into an Agreement and Plan of Merger, dated October 12, with Tiger Company Ltd., a newly formed company with limited liability incorporated under the laws of the Cayman Islands and a direct wholly owned subsidiary of Huya, and, solely for the limited purposes set forth therein, Nectarine Investment Limited, a wholly owned subsidiary of Tencent Holdings (TCEHY). Pursuant to the Merger Agreement, Huya will acquire all the outstanding shares of DouYu, including ordinary shares represented by American depositary shares, through a stock-for-stock merger. Pursuant to the Merger Agreement, at the effective time of the Merger, each ordinary share of DouYu issued and outstanding immediately prior to the Effective Time (other than the DouYu Shares represented by American depositary shares, each representing 1/10 of a DouYu Share (the "DouYu ADSs"), the Excluded Shares and any Purported Dissenters Shares, each as defined in the Merger Agreement) will be cancelled in exchange for the right to receive 7.30 validly issued, fully paid, non-assessable Class A ordinary shares of Huya, and each DouYu ADS issued and outstanding immediately prior to the Effective Time will be cancelled in exchange for the right, at the direction of DouYu's depositary bank, to receive 0.730 American depositary shares of Huya, each representing one Huya Class A Share. If the Merger is completed, the shareholders of Huya and DouYu immediately prior to the Merger, respectively, will each hold approximately 50% shares of the combined company on a fully diluted basis. Concurrently with the execution of the Merger Agreement, DouYu and Tencent entered into a Reassignment Agreement, dated October 12, 2020, pursuant to which Tencent will assign its interests in the game live streaming business operated by the Tencent group under the "Penguin e-Sports" brand to DouYu and deepen its business cooperation with DouYu in order to integrate the Penguin Business with the business of the combined Huya and DouYu upon the Merger, for a total consideration of $500M. The closing of the Reassignment is conditioned on, and is expected to occur substantially concurrently with, the closing of the Merger. The closing of the Merger is also conditioned on, and is expected to occur substantially concurrently with, the closing of the Reassignment. The Merger, which is currently expected to close during the first half of 2021, is subject to customary closing conditions including the approval of the Merger Agreement and the Merger by an affirmative vote of holders of the DouYu Shares representing at least two-thirds of the voting power of the DouYu Shares present and voting in person or by proxy as a single class at a meeting of DouYu's shareholders which will be convened to consider the approval of the Merger Agreement and the Merger. Tencent and Messrs. Shaojie Chen and Wenming Zhang, the Chief Executive Officer and co-Chief Executive Officer of DouYu, have agreed to vote all of the DouYu Shares and DouYu ADSs they beneficially own, which collectively represent approximately 54.6 % of the voting rights attached to the total outstanding DouYu Shares as of the date of the Merger Agreement, in favor of the authorization and approval of the Merger Agreement and the Merger.

07:33 EDT Everbridge appoints John Maeda as chief customer experience officer - Everbridge (EVBG) announced the appointment of John Maeda to the new role of chief customer experience officer. Prior to Everbridge, Maeda served as chief experience officer at Publicis where he led their CX/DX practices. Maeda serves on the boards of Sonos (SONO) and the Cooper Hewitt Smithsonian Design Museum.

07:32 EDT DouYu, Huya enter merger agreement -

07:20 EDT Parsons awarded SharkSeer 2.0 task order worth up to $28M - Parsons was awarded the SharkSeer 2.0 task order under the Defense Information Systems Agency's Systems Engineering, Technology, and Innovation contract. The firm-fixed price contract includes one base year and four option years, which, if exercised, will provide for a total potential value of $28M. SharkSeer 2.0 is a new requirement for DISA and will enhance the program's original operational capability with revamped architecture and new task requirements. The effort supports an enterprise boundary defense system that uses artificial intelligence to identify and mitigate zero-day cyber attacks and advanced persistent threats to protect the Department of Defense networks.

07:16 EDT DSP Group ships 100 millionth SmartVoice SoC - DSP Group announced it has shipped its 100 millionth SmartVoice system-on-chip, marking a major milestone. This milestone is testimony to the importance DSP Group's global customers, including Google, Amazon, Facebook, GoPro, Logitech, Samsung, Lenovo, and Leviton all place on performance, cost-effectiveness, low power, and reliability when it comes to ensuring a satisfying and enjoyable end-user VUI experience.

07:12 EDT Greenlane announces global distribution expansion of Marley Natural accessories - Greenlane Holdings announced that it will be distributing Marley Natural accessories worldwide. The exclusive deal brings the brand to specialty locations in Central and South America, the Caribbean, and Europe. Marley Natural accessories pay homage to the legacy of Bob Marley, the musical pioneer and activist who is synonymous with cannabis culture.

07:11 EDT VBL Therapeutics announces European patent for Anti-MOSPD2 antibodies - VBL Therapeutics announced that the European Patent Office has granted Patent #3328408, which covers VBL's proprietary investigational anti-MOSPD2 monoclonal antibodies to treat inflammatory conditions. VBL is currently advancing its lead anti-MOSPD2 candidate through IND-enabling studies. VBL has recently demonstrated ex-vivo activity of anti-MOSPD2 antibodies in patients with relapsing-remitting and progressive multiple sclerosis, as well as in animal models of rheumatoid arthritis, nonalcoholic steatohepatitis and inflammatory bowel disease. The claims in the granted patent cover the use of such an antibody/antibody fragment to treat a wide range of inflammatory and autoimmune conditions. The patent is expected to provide protection for VBL's MOSPD2 antibodies for inflammation, until at least July 2036. The Company recently held a pre-IND meeting with the FDA and has reached alignment with the Agency on the path forward for its lead anti-MOSPD2 candidate. A first-in-human study is planned to commence in the second half of 2021.

07:09 EDT Cerecor appoints Gilla Kaplan to board of directors - Cerecor announced the appointment of Gilla Kaplan, Ph.D., to the Board of Directors. She was the Director of the Global Health Program, Tuberculosis, at the Bill and Melinda Gates Foundation from January 2014 until April 2018.

07:08 EDT HUYA trading halted, news pending

07:07 EDT Virtus Investment reports preliminary total AUM $116.5B as of September 30 - Virtus Investment Partners reported preliminary long-term and total assets under management as of September 30, of $115B and $116.5B, respectively. The increase in long-term AUM from June 30 reflected market appreciation and positive net flows, including net inflows in retail separate accounts, mutual funds, and exchange traded funds, partially offset by net outflows in other products.

07:06 EDT Altimmune, UAB announces publication of preclinical data for AdCOVID - Altimmune pre-published a comprehensive preclinical evaluation of its single-dose, intranasal COVID-19 vaccine candidate, AdCOVID, in a manuscript entitled, "Single-dose intranasal administration of AdCOVID elicits systemic and mucosal immunity against SARS-CoV-2 in mice." The studies were conducted as part of Altimmune's ongoing collaboration with the University of Alabama at Birmingham and expand upon earlier preclinical data presented for the AdCOVID program. AdCOVID is based on the Company's adenovirus-based intranasal vaccine platform and expresses the receptor binding domain of the SARS-CoV-2 spike protein. The RBD is essential for viral infection and the majority of neutralizing antibodies from people that have recovered from COVID-19 bind to the RBD, highlighting the importance of the RBD in controlling infection. AdCOVID is designed to offer significant advantages over other COVID-19 vaccine approaches, including intranasal administration, single-dose effectiveness, broad activation of the immune response, and the ability to ship and store the vaccine conveniently and inexpensively. Altimmune anticipates filing an IND with the U.S. Food and Drug Administration and commencing a Phase 1 safety and immunogenicity trial of AdCOVID in the fourth quarter of 2020. Key Findings of the Study: In the BioRxiv.org publication, the authors present data demonstrating strong activation of all three arms of the adaptive immune system following a single intranasal dose of AdCOVID. These data, conducted in two strains of mice, show that AdCOVID stimulated strong immune responses including: Serum Neutralizing Immunity: AdCOVID elicited a median serum neutralization titer against wild-type SARS-CoV-2 virus of up to 1:563 one-month post-vaccination in a 50% focus reduction neutralization test. For context, this level of neutralizing activity was at least 3-fold higher than the minimum titer recommended by the FDA for convalescent plasma used in the treatment of COVID-19. T cell Immunity: AdCOVID stimulated both CD4+ and CD8+ antigen-specific T cell responses following a single intranasal vaccination. The response was focused in the lungs of the vaccinated mice and was biased toward CD8+ T cells. A significant fraction of the CD8+ T cells in the lung were found to be non-circulating tissue-resident memory T cells, which have been shown to play a front-line role in fighting respiratory viral infections. Mucosal Immunity: Nasal mucosal immunity is a local type of immunity that has the potential to stop both infection and transmission of the virus. Significantly, only an intranasal vaccine can activate this important type of immunity. AdCOVID induced a 29-fold increase in mucosal IgA specific to the RBD, well above the level associated with protection in clinical studies of mucosal influenza vaccines where a 2 to 4-fold increase in IgA was found to be correlated with protection. The observed IgA response, together with the lung-associated Trm T cell response noted above, provided an additional level of immune response that may provide enhanced protection against COVID-19 disease and transmission.

07:06 EDT Bausch Health licenses Eyenovia's investigational atropine ophthalmic solution - Bausch Health, Bausch + Lomb, and Eyenovia (EYEN), announced that an affiliate of Bausch Health has acquired an exclusive license in the United States and Canada for the development and commercialization of an investigational microdose formulation of atropine ophthalmic solution, which is being investigated for the reduction of pediatric myopia progression, also known as nearsightedness, in children ages 3-12. This investigational formulation of atropine is delivered with Eyenovia's proprietary Optejet dispenser technology.

07:03 EDT Kenon's OPC to acquire CPV power business in U.S. for $630M in cash - Kenon Holdings' subsidiary OPC Energy announced the execution of an agreement by CPV Group, an entity in which OPC holds a 70% stake, for the acquisition of Competitive Power Ventures group from Global Infrastructure Management. CPV is engaged in the development, construction and management of renewable energy and conventional energy (natural gas-fired) power plants in the United States. Consideration for the acquisition is $630M (payable in cash), subject to post-closing adjustments based on closing date cash, working capital and debt. Additionally, an amount in the range of $54M-$95M is payable by the Buyer in respect of CPV's equity in the Three Rivers project, which is currently under construction, which may be paid at the Buyer's option in cash or a vendor loan at terms that have been agreed between the parties. The acquisition of CPV will be conducted through the acquisition by CPV Group LP of 100% of the equity interests of three companies, which hold CPV's interests in companies with plants in operation as well as development projects and CPV's management company. The acquisition agreement includes representations and warranties and covenants by the parties, including covenants regulating the conduct of the CPV business between signing and closing. The Seller's representations will generally expire at closing, other than certain fundamental representations which will survive for two years. The Buyer has obtained a representation and warranty insurance policy in connection with the acquisition agreement with international insurers with a liability cap of up to $52M for a period ranging from three to six years, depending on the particular representation and warranty.

07:01 EDT Mesa Air reports 21,780 block hours in September - Mesa Air Group reported Mesa Airlines' operating performance for September 2020. Mesa Airlines reported 21,780 block hours in September 2020, a 40.3 percent drop from September 2019 as a result of reduced schedules during the COVID-19 pandemic. The company also reported a controllable completion factor of 99.87 percent and 99.95 percent for its American and United operations, respectively.

06:53 EDT Astellas Pharma, Seagen announce results from second cohort of EV-201 trial - Astellas Pharma (ALPMY) and Seagen (SGEN) announced topline results from the second cohort of patients in the pivotal phase 2 single-arm clinical trial known as EV-201. The cohort is evaluating the antibody-drug conjugate Padcev for patients with locally advanced or metastatic urothelial cancer who have been previously treated with a PD-1/L1 inhibitor and have not received a platinum-containing chemotherapy and are ineligible for cisplatin. Results showed a 52% objective response rate, or ORR, per blinded independent central review and a median duration of response of 10.9 months. The most frequently reported treatment-related adverse events Grade 3 or greater that occurred in more than 5% of patients were: neutropenia, rash, fatigue, increased lipase, diarrhea, decreased appetite, anemia and hyperglycemia. Data from cohort 2 of the trial will be submitted for presentation at an upcoming scientific congress and will be discussed with regulatory authorities. Padcev is a first-in-class antibody-drug conjugate, or ADC, that is directed against Nectin-4, a protein located on the surface of cells and highly expressed in bladder cancer. The FDA granted accelerated approval to Padcev in 2019 based on results from the first cohort in this trial, which included patients whose disease had progressed during or following platinum-based chemotherapy and a PD-1/L1 inhibitor.

06:50 EDT Lazard reports preliminary AUM approximately $227.8B as of September 30 - The month's AUM included market depreciation of $3.2B, foreign exchange depreciation of $2B and net inflows of $0.7B. Preliminary average assets under management for the quarter ended September 30 were $226B.

06:49 EDT Waddell & Reed reports preliminary AUM $67.9B as of September 30 - Compared to $70.3B on August 31.

06:47 EDT Seagen, Astellas announce positive topline results from Phase 2 EV-201 trial - Seagen (SGEN) and Astellas Pharma (ALPMY) announced positive topline results from the second cohort of patients in the pivotal phase 2 single-arm clinical trial known as EV-201. The cohort is evaluating the antibody-drug conjugate PADCEV for patients with locally advanced or metastatic urothelial cancer who have been previously treated with a PD-1/L1 inhibitor and have not received a platinum-containing chemotherapy and are ineligible for cisplatin. Results showed a 52% objective response rate per blinded independent central review and a median duration of response of 10.9 months. The most frequently reported treatment-related adverse events Grade 3 or greater that occurred in more than 5% of patients were: neutropenia, rash, fatigue, increased lipase, diarrhea, decreased appetite, anemia and hyperglycemia. Data from cohort 2 of the trial will be submitted for presentation at an upcoming scientific congress and will be discussed with regulatory authorities.

06:33 EDT DPW Holdings announces acceptance plan by NYSE American - DPW Holdings announced that on October 8, the NYSE American notified the company that it has been granted a listing extension until January 24, 2022 on the basis of the plan recently submitted by the company to regain compliance with the NYSE American Company Guide. Specifically, the company has demonstrated how it intends to regain compliance with Sections 1003(a)(ii) and (iii) of the Listing Standards by having stockholders' equity be $6M or more. The company will be subject to periodic review by NYSE during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued Listing Standards by the end of the extension period could result in the company being delisted from the NYSE.

06:26 EDT HitGen enters agreement with Ligand to acquire Vernalis for $25M in cash - HitGen announces it has entered into a definitive agreement with Ligand Pharmaceuticals to acquire Vernalis Limited, Cambridge, UK-based world leaders in fragment and structure-based drug discovery research. The acquisition is for the entire issued share capital of Vernalis Limited, for $25M in cash. The closing of this transaction is subject to customary conditions and approvals, expected to complete before the end of 2020. Vernalis combines excellence in protein science and structure determination, fragment screening and biophysics with medicinal chemistry leadership to enable novel drug discovery against highly challenging targets. They are a 80-person experienced research team, working out of fully equipped laboratories in Granta Park, Cambridge.

06:09 EDT AudioEye appoints Bryan Rodrigues as CMO - AudioEye announced that Bryan Rodrigues has joined the company as CMO. Bryan brings 20 years of technology marketing experience to AudioEye, where he will be responsible for the company's branding and marketing efforts. He will report to interim CEO David Moradi and will join the senior leadership team in its mission to increase digital accessibility on the web. Most recently, Bryan was VP of marketing and e-commerce at Tile, helping drive growth of Tile's core business and playing a role in the company's expansion through partnerships and subscription services.

06:02 EDT Helios Technologies to acquire Balboa Water Group for $218.5M - Helios Technologies has entered into a definitive agreement to acquire BWG Holdings, operating as Balboa Water Group, for $218.5M from investment funds affiliated with AEA Investors. Helios plans to fund the Acquisition through a combination of cash and existing and new credit facilities. Helios expects to close the transaction in the fourth quarter, subject to customary closing conditions and regulatory approvals. Balboa is an innovative market leader of electronic controls for the health and wellness industry with proprietary and patented technology that enables end-to-end electronic control systems for therapy bath and spas. Headquartered in Costa Mesa, CA, Balboa is a global operation selling into 47 different countries and utilizing a new state-of-the-art manufacturing facility in Baja, Mexico. Balboa has delivered compounded annual growth in the mid-single digits for nearly 10 years and is expected to achieve Adjusted EBITDA margins of approximately 20 percent by year-end 2021. The Acquisition is expected to be accretive to Adjusted EPS day one onward, and the first year ROIC is expected to exceed Helios's WACC. The purchase price of $218.5M represents a 2020E Adjusted EBITDA transaction multiple of 9.3x on a pro forma basis.

05:34 EDT Northern Trust selected by M&SPT to provide asset servicing solutions - Northern Trust announced it has been selected by Marks & Spencer Pension Trust, or M&SPT, in the UK to provide a range of asset servicing solutions to the M&S Pension Scheme, a defined benefit pension scheme of which M&SPT is trustee. With GBP 11B of assets as at March 31, the M&S Pension Scheme is one of the country's 25 largest corporate pension schemes. Northern Trust will provide global custody, financial reporting and analytical services to support M&SPT's oversight and administration of its investment strategy, across its range of traditional, insurance and alternative investments. These solutions include specialist fund administration and analytics for M&SPT's private market portfolio.

05:29 EDT Argo Group enters RITC transaction with RiverStone with GBP 356M in provisions - ArgoGlobal, the Lloyd's insurer and member of Argo Group, announced a reinsurance-to-close, or RITC, transaction with legacy specialist RiverStone. Upon completion of the transaction, RiverStone will undertake an RITC of ArgoGlobal's Syndicate 1200 for 2017 and prior years with net technical provisions of GBP 356M. The transaction is expected to receive regulatory approval in Q4, with the RITC becoming effective on January 1, 2021.

05:20 EDT Takeda Pharmaceutical announces interim results from VISIBLE OLE study - Takeda Pharmaceutical announced interim results from the VISIBLE open-label extension, or OLE, study on the long-term safety and efficacy of maintenance treatment with the subcutaneous, or SC, formulation of the gut-selective biologic Entyvio in patients with moderately to severely active ulcerative colitis, or UC. In evaluating the primary safety endpoint of the trial, interim data of the UC patient population showed that following two years of maintenance therapy with vedolizumab SC, long-term safety findings were consistent with the known safety profile of vedolizumab. Patients also continued to demonstrate clinical benefit from treatment, through maintenance of clinical remission and corticosteroid-free clinical remission rates, the clinical efficacy outcomes of the trial. These data were announced in an oral presentation at the UEG Week Virtual congress. VISIBLE OLE is an ongoing open-label, phase 3b, multinational, multicenter study to evaluate the long-term safety and tolerability of vedolizumab SC in adult patients with ulcerative colitis or Crohn's disease, or CD, following enrollment and participation in the VISIBLE 1, or UC, or VISIBLE 2, or CD, studies. Participants who completed the maintenance period up to week 52, or who achieved clinical response at week 14 after a third vedolizumab IV infusion at week 6, received vedolizumab SC 108 mg every two weeks. Interim data from the VISIBLE OLE study in the UC patient population demonstrated that adverse events were consistent with the known safety profile of vedolizumab. During two years of maintenance treatment, adverse events occurred in 69% of patients with UC, with disease exacerbations, nasopharyngitis, upper respiratory tract infection and anemia reported most frequently. Injection site reactions were reported in 4.5% of patients and all were mild or moderate in severity. Serious adverse events occurred in 14% of patients, with no cases of progressive multifocal leukoencephalopathy and no deaths. In randomized completers, rates of clinical remission and corticosteroid-free clinical remission were maintained up to week 108. In non-randomized week 14 responders, the comparative rates were 62.6% at week 14 and 33.3% at week 110 for clinical remission, and 24.5% at week 54 and 25% at week 110 for corticosteroid-free clinical remission.

05:13 EDT Mallinckrodt voluntarily initiates Chapter 11 proceedings in bankruptcy court - Mallinckrodt announced that it has voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to modify its capital structure, including restructuring portions of its debt, and resolve several billion dollars of potential legal liabilities. Mallinckrodt and all of its subsidiaries are continuing to operate and supply customers and patients with products as normal. The entities that filed Chapter 11 petitions include Mallinckrodt, substantially all of its U.S. subsidiaries, including its specialty generics-focused subsidiaries and specialty brands-related subsidiaries, and certain of its international subsidiaries. The company intends to use the Chapter 11 process to provide a mechanism to implement a restructuring support agreement, or RSA, that, among other things, provides for an amended proposed opioid claims settlement and a financial restructuring that would: reduce the company's total debt by approximately $1.3B; resolve opioid-related claims against the company, its subsidiaries and related entities; and resolve various Acthar Gel-related matters, including the CMS Medicaid rebate dispute, an associated False Claims Act, or FCA, lawsuit and an FCA lawsuit relating to Acthar's previous owner's interactions with an independent charitable foundation. In connection with the Chapter 11 filing, the company has entered into an RSA that provides for a financial restructuring designed to strengthen the company's balance sheet and reduce its total debt by approximately $1.3B. Parties to the RSA include: Holders of approximately 84% of the company's guaranteed unsecured notes; 50 states and territories; and the court-appointed plaintiffs' executive committee representing the interests of thousands of plaintiffs in the opioid multidistrict litigation, or Opioid MDL, which has agreed to recommend that the more than 1,000 counties, municipalities, Native American tribes and other opioid claimants in the Opioid MDL support the RSA. Under the terms of the RSA, at the end of the court-supervised process: all allowed first lien credit agreement claims, first lien note claims and second lien note claims are expected to be reinstated at existing rates and maturities; holders of allowed guaranteed unsecured note claims are expected to receive their pro rata share of $375M of new secured second lien notes due seven years after emergence and 100% of new Mallinckrodt ordinary shares, subject to dilution by the warrants described below and certain other equity; trade creditors and holders of allowed general unsecured claims are expected to share in $150M in cash and equity holders and non-guaranteed unsecured noteholders are expected to receive no recovery. The company has reached an agreement in principle on the terms of an amended proposed settlement that would resolve opioid-related claims against Mallinckrodt and its subsidiaries and eliminate billions of dollars in alleged liabilities. The amended proposed settlement is supported by a broad array of opioid plaintiffs as detailed above. Under the terms of the amended proposed settlement, which would become effective upon Mallinckrodt's emergence from the Chapter 11 process, subject to court approval and other conditions: opioid claims would be channeled to one or more trusts, which would receive $1.6B in structured payments. A total of $450M would be received upon the company's emergence from Chapter 11; $200M would be received on each of the first and second anniversaries of emergence, and $150M would be received on each of the third through seventh anniversaries of emergence with a one-year prepayment option at a discount for all but the first payment. Opioid claimants would also receive warrants for approximately 19.99% of the Company's fully diluted outstanding shares, including after giving effect to the exercise of the warrants, exercisable at a strike price reflecting an aggregate equity value of $1.551B. Upon commencing the Chapter 11 filing, the company will comply with an agreed-upon operating injunction with respect to the operation of its opioid business. Mallinckrodt has reached an agreement in principle with certain governmental parties to resolve certain disputes relating to Acthar Gel. The agreement in principle is conditioned upon Mallinckrodt entering the Chapter 11 restructuring process. The company has agreed to pay $260M over seven years and reset Acthar Gel's Medicaid rebate calculation as of July 1, such that state Medicaid programs will receive 100% rebates on Acthar Gel Medicaid sales, based on current Acthar Gel pricing. Additionally, upon execution of the settlement, the company will dismiss its appeal of the CMS Medicaid rebate ruling currently pending in the U.S. Court of Appeals for the D.C. Circuit. The settlement would resolve the CMS Medicaid rebate dispute, the associated FCA lawsuit in Boston and an FCA lawsuit in the Eastern District of Pennsylvania relating to Acthar's previous owner's interactions with an independent charitable foundation. Mallinckrodt expects to complete the settlement over the next several months, subject to bankruptcy court approval. The current consolidated cash balance of the Chapter 11 filing entities is more than $650M. Together with cash generated from ongoing operations, this is expected to provide ample liquidity to support continued operations during the court-supervised process. The company has filed a number of customary motions seeking court authorization to continue to support its business operations during the court-supervised process, including the continued payment of employee wages and benefits without interruption. The company intends to pay vendors and suppliers in full under normal terms for goods received and services rendered on or after the filing date. The company expects to receive court approval for all of these routine requests. The company's foreign non-debtor affiliates will continue to operate their businesses in the ordinary course. Separating the specialty generics and specialty brands businesses remains one of Mallinckrodt's goals. The company will continue to evaluate strategic options for the Specialty Generics business at an appropriate time and when market conditions are favorable.