Stockwinners Market Radar for October 13, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
AAPL T | Hot Stocks19:16 EDT AT&T to start iPhone 12 orders on October 16th - The company states: "AT&T is bringing our customers the new iPhone 12 lineup, including iPhone 12 Pro, iPhone 12 Pro Max, iPhone 12, and iPhone 12 mini, introducing a powerful 5G experience with the ability to tap into the power of our fast, reliable and secure nationwide AT&T 5G network. With a beautiful all-new design, iPhone 12 models feature unparalleled new camera systems, edge-to-edge Super Retina XDR display for a more immersive viewing experience with the Ceramic Shield front cover, and Apple-designed A14 Bionic chip, the fastest chip in a smartphone. Starting Oct. 16, AT&T customers can pre-order iPhone 12 Pro and iPhone 12 at www.att.com with online and in-store availability starting Oct. 23. AT&T customers will be able to order iPhone 12 Pro Max and iPhone 12 mini beginning on November 6, with availability on November 13. And, in an unprecedented move, new and existing customers can now get the iPhone 12 for $0 when they buy on a qualifying installment plan with an eligible unlimited plan."
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CELH | Hot Stocks18:48 EDT Celsius Holdings CEO: We are riding the health and wellness trends - In an interview on CNBC's Mad Money, John Fieldly said the Celsius product has science behind it and is well documented. "Our claims have been validated. It has been clinically proven," he noted. Fieldly said the company is selling more products and retailers are bringing it on. "We're the third largest energy drink on Amazon," he added.
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SJW | Hot Stocks18:04 EDT SJW Group's Texas unit files to buy the Clear Water Estates Water Systems - SJW Grou announced that its Texas subsidiary, SJWTX Inc., which does business as Canyon Lake Water Service Company, is planning to acquire the Clear Water Estates Water System in Canyon Lake, Texas. The companies have filed an application with the Public Utilities Commission of Texas, or PUCT, for approval of the transaction. The PUCT's decision on the application is expected in the first quarter of 2021. If approved by the PUCT, this would become the 13th acquisition by SJWTX since 2006.
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ARWR | Hot Stocks18:04 EDT Arrowhead's Mauro Ferrari sells 10,000 common shares - In a regulatory filing, Arrowhead Pharmaceuticals director Mauro Ferrari disclosed the sale of 10,000 common shares of the company on October 9 at a price of $48 per share.
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ALTR | Hot Stocks17:47 EDT Altair holder George Christ sells over $2M in shares - Altair holder George Christ sold 45,180 shares between October 9 and October 12 for $45.44 per share, for a total transaction value of $2,053,011.
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OCUL | Hot Stocks17:29 EDT Ocular Therapeutix reaches agreement w/ FDA on ReSure retrospective study - In a regulatory 8K filing, the company states: "On September 8, 2020, we reported that we received a close-out letter from the FDA, dated September 2, 2020, regarding a warning letter, dated October 18, 2018, previously issued to us in connection with a post-approval study for our ReSure Sealant product. Such warning letter was based on the observed inability to conduct a post-approval study evaluating endophthalmitis rates following ReSure use in a post-approval Device Exposure Registry study required under 21 CFR 814.82(a)(2) as a condition within the premarket approval application. Following our appeal of the warning letter and subsequent discussions with agency staff, we have come to an agreement with the FDA to conduct a retrospective study looking at sites with access to ReSure compared to those without access to ReSure using the American Academy of Ophthalmology's Iris Registry data base. If we complete the proposed retrospective study in accordance with our agreement with the FDA, we believe that the FDA will deem our obligations to conduct post-approval studies related to ReSure Sealant to have been satisfied."
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NSANY | Hot Stocks17:26 EDT CFPB orders Nissan auto financing unit to pay $4M over improper repossessions - The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, an auto financing subsidiary of Nissan North America, Inc., which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide. Nissan's servicing operations are headquartered in Irving, Texas. The Bureau found that Nissan and its agents: wrongfully repossessed vehicles; kept personal property in consumers' repossessed vehicles until consumers paid a storage fee; deprived consumers paying by phone of the ability to select payment options with significantly lower fees; and, in its loan extension agreements, made a deceptive statement that appeared to limit consumers' bankruptcy protections. These actions violated the Consumer Financial Protection Act's prohibition against unfair and deceptive acts and practices. Today's consent order requires Nissan to provide up to $1 million of cash redress to consumers subject to a wrongful repossession, credit any outstanding account charges associated with a wrongful repossession, and to pay a civil money penalty of $4 million. It also imposes certain requirements to prevent future violations and remediate consumers whose vehicles are wrongfully repossessed going forward. The Bureau specifically found that, from 2013 through September of 2019, Nissan repossessed hundreds of consumers' vehicles despite the consumer having made payments or otherwise taken actions that should have prevented the repossession. The Bureau also found that, from at least early 2014 through late August 2017, Nissan's repossession agents, with Nissan's knowledge, demanded that consumers pay a separate, upfront storage fee for personal property contained in repossessed vehicles. These agents refused to return consumers' personal property until the consumers paid the fee. Reference Link
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OCUL | Hot Stocks17:25 EDT Ocular Therapeutix drops 8% to $11.17 after secondary offering of common stock
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SIX | Hot Stocks17:22 EDT Six Flags announces 10% workforce reduction - On October 13, Six Flags Entertainment committed to reduce its full-time workforce by approximately 240 employees, or 10%, as part of its transformation productivity initiatives. The company does not expect to incur material charges in connection with this workforce reduction. Affected employees are being offered severance pay in accordance with company policy or, if applicable, their employment agreements, as well as outplacement services. As a result, the company expects to record employee severance costs of approximately $1.5M in the third quarter and approximately $3M in the fourth quarter. The company will provide further details of the transformation productivity initiatives during its investor conference call on October 28.
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IBP | Hot Stocks17:17 EDT Installed Building Products acquires Insulation Contractors/Magellan - Installed Building Products announced it has acquired Insulation Contractors/Magellan Insulation, known within its local markets as Icon. Founded in 1989, Icon is headquartered in Kent, Washington, and provides insulation, waterproofing, and firestopping installation services to commercial and multi-family customers throughout Washington and Oregon.
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LAUR | Hot Stocks17:16 EDT Laureate Education to transfer control of its operations in Honduras - Laureate Educatio announced that it has entered into a definitive agreement with Fundacion Nasser to transfer control of Fundaempresa, which manages Laureate's operations in Honduras - Universidad Tecnologica Centroamericana, including the operation of Centro Universitario Tecnologico. UNITEC and CEUTEC collectively enroll more than 23,000 students in technical, undergraduate and postgraduate programs in health, business, communications, engineering and information technology.
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MPLN | Hot Stocks17:14 EDT H&F Corporate Investors disclose 32.0% stake in MultiPlan - H&F Corporate Investors disclosed a 32.0% stake in MultiPlan, which represents over 213M shares. The filing does allow for activism.
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MDRX | Hot Stocks17:08 EDT Allscripts spikes up 25% to $10.35 after announcing $1.35B sale of CarePort
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MDRX | Hot Stocks17:03 EDT Allscripts to sell CarePort Health business to WellSky for $1.35B - Allscripts announced the execution of a definitive agreement to sell its CarePort Health business to WellSky, a global health and community care technology company. WellSky is jointly owned by TPG Capital and Leonard Green & Partners. CarePort solutions assist hundreds of hospitals and thousands of post-acute care providers to coordinate and transition patients through different settings of care. The agreed sale price of $1.35B represents a multiple of greater than 13 times CarePort's revenue over the trailing 12 months, and approximately 21 times CarePort's non-GAAP Adjusted EBITDA over the trailing 12 months. CarePort is included in Allscripts data, analytics and care coordination reporting segment and represents approximately 6% of Allscripts consolidated revenues. Reference should be made to the Allscripts quarterly earnings reports and supplemental financial data for a reconciliation of non-GAAP adjusted EBITDA. The transaction is expected to close before the end of the year, subject to receipt of regulatory clearances and satisfaction of other customary closing conditions. Upon transaction close, the CarePort client base and associates will transition to WellSky. The two companies will operate independently until that date. Allscripts expects the net after-tax proceeds to be used to invest in its solutions, further deleverage the company's balance sheet and support share repurchases.
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CMI | Hot Stocks17:01 EDT Cummins raises quarterly cash dividend 3% to $1.35 from $1.311 per share - The dividend is payable on December 3 to shareholders of record on November 20.
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OPGN | Hot Stocks17:01 EDT OpGen issues formal response to FDA's requests for additional information - OpGen announced that it has issued its formal response to the second of the FDA's AI Requests for the Acuitas AMR Gene Panel pre-market submission, addressing what OpGen believes to be all of the FDA's questions and open items. OpGen had submitted a 510(k) Premarket Notification for the Acuitas AMR Gene Panel for Isolates to FDA in May 2019 and had subsequently received two formal AI Requests from the agency; the first in July 2019 and the second in early 2020. While a 180-day response deadline is normally imposed for these requests, the OpGen response was delayed in June 2020 as consequence of the COVID-19 pandemic when all pre-market submissions on hold as of March 2020 were issued a 90-day extension to the previously established response deadlines. During recent weeks and months, OpGen has been working with the FDA review team on an interactive basis to address any and all outstanding information requests and has received numerous inputs and feedback that have all been built into the formal response. Johannes Bacher, COO of OpGen commented: "With the successful and timely completion of our formal response we are now eagerly awaiting the Agency's final feedback and hope for a swift FDA clearance decision in the coming weeks. We believe to have a unique panel for a key healthcare threat in antimicrobial resistance with unparalleled comprehensive coverage of genetic AMR markers in the most relevant bacterial pathogens that are of key concern in our hospitals today."
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SGMS | Hot Stocks17:00 EDT Scientific Games former chairman Perelman sells 1.96M shares of common stock - In a regulatory filing, Scientific Games discloses that its former executive chairman Ronald Perelman sold 1.96M shares of common stock on October 12th in a total transaction size of $55M. The holding represents about 18% of his total owned.
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PAYC | Hot Stocks16:55 EDT Paycom CEO sells 90K shares of common stock - In a regulatory filing, Paycom discloses that its CEO Chad Richison sold 90K shares of common stock on October 9th in a total transaction size of $32.9M.
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MRNA | Hot Stocks16:53 EDT Moderna CEO sells 19.3K shares of common stock - n a regulatory filing, Moderna discloses that its CEO Stephane Bancel sold 19.3K shares of common stock on October 9th in a total transaction size of $1.41M.
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AVGO | Hot Stocks16:47 EDT Broadcom CEO Tan sells 14,500 common shares - In a regulatory filing, Broadcom president and CEO Hock E. Tan disclosed the sale of 14,500 common shares of the company on October 9 at a price of $376.94 per share.
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AWK | Hot Stocks16:46 EDT American Water's Pennsylvania American Water buys wastewater assets for $17.5M - The company states: "Pennsylvania American Water, a subsidiary of American Water, announced that it has acquired the wastewater assets of the Borough of Kane Authority in McKean County for approximately $17.5M. The Authority's wastewater system serves nearly 2,100 customers in Kane Borough and Wetmore Township. The sale of the wastewater system is expected to allow the borough to eliminate its existing wastewater debt, fully fund borough pension plans, and invest in capital projects. Effective today, all four of Kane's employees, represented by AFSCME District Council 85, Local 3603, are now employees of Pennsylvania American Water."
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PASG | Hot Stocks16:42 EDT Passage Bio publishes preclinical GM1 gangliosidosis data - Passage Bio announced publication of data in a murine model of GM1 gangliosidosis, or GM1, demonstrating that a single intracerebroventricular injection of an optimized adeno-associated virus, or AAV, into the cerebral spinal fluid, or CSF, resulted in significant expression of Beta-galactosidase in the brain and peripheral tissues and demonstrated dose-related reductions in neuronal lysosomal storage lesions, neurological impairment and improvement in survival. These data were published online ahead of print in the November issue of the peer-reviewed scientific journal Human Gene Therapy, or HGT. This research evaluated the impact of single intracerebroventricular administration of the human ss-gal containing AAV vector on ss-galactosidase enzyme activity in the murine brain and peripheral tissues, lysosomal storage lesions, neurological function and survival in mice lacking the ss-galactosidase gene. The mice received the single administration at age one month and were evaluated over 300 days. Beta-galactosidase activity was increased significantly in the cerebral spinal fluid and serum of the vector-treated mice compared to vehicle control-treated mice. Significant improvements in gait assessments as measured by stride length and hind paw print length and significant preservation of neurological function as measured by neurological exam scores were observed throughout the study period in the human ss-gal vector-treated mice. There were significant decreases in lysosomal storage lesions of vector-treated animals and by day 300 all animals that received the two highest doses were still alive, whereas none of the vehicle control-treated animals had survived. Passage Bio expects to initiate dosing of PBGM01 in a Phase 1/2 trial late in Q4 or early in Q1 of 2021 and remains on track to report initial 30-day safety and biomarker data late in the first half of 2021.
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GME | Hot Stocks16:41 EDT GameStop jumps after Senvest discloses 3.6M share stake - GameStop moved higher after Senvest Management disclosed a 5.54% stake in the company, which represents over 3.6M shares. The filing does not allow for activism. GameStop in after-hours trading is up 5%, or 62c, to $12.50. Senvest is an investment advisor founded by Richard Mashaal.
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VFC | Hot Stocks16:39 EDT VF Corp. says heads of 'core brands' to report directly to CEO Rendle - VF Corporation announced organizational changes in support of its ongoing business model transformation and to ensure greater alignment in the management of its Core and Emerging Brands portfolio. With these changes, the leaders of VF's three Core Brands, Vans, The North Face and Timberland and its Emerging Brands now report directly to Chairman, President and CEO, Steve Rendle. Reporting to Rendle is the following brand leadership team: Doug Palladini, Global Brand President, Vans. Steve Murray, Global Brand President, The North Face. Previously VF's President of the Americas Region, Murray replaces Arne Arens who has stepped down to pursue other opportunities outside of VF. In line with the company's transformation initiative, VF has eliminated the role of President of the Americas. Martino Scabbia Guerrini, President of the EMEA Region and interim Global Brand President for Timberland(R). Scabbia Guerrini continues to lead the Timberland brand while the company seeks a permanent Global Brand President. Kevin Bailey, President of the Asia Pacific Region and Emerging Brands.
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THTX | Hot Stocks16:39 EDT Theratechnologies confirms issuance of patent covering Tesamorelin use - Theratechnologies announced that the United States Patent and Trademark Office, or USPTO, has issued U.S. Patent No. 10,799,562, which is directed to the treatment of Nonalcoholic Steatohepatitis, NASH, and/or Nonalcoholic Fatty Liver Disease, NAFLD, in patients using tesamorelin. This patent, which is scheduled to expire in 2040, stems from a patent application filed in March 2020 by Massachusetts General Hospital. Theratechnologies has an exclusive license with MGH to this patent.
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GME | Hot Stocks16:35 EDT Senvest Management reports 5.54% passive stake in GameStop
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BBBY | Hot Stocks16:34 EDT Bed Bath & Beyond to sell Christmas Tree Shops banner, other assets for $250M - Bed Bath & Beyond announced that it has entered into separate agreements to sell its Christmas Tree Shops retail banner, its institutional Linen Holdings business and a distribution center located in Florence, New Jersey. The company expects to generate a total of approximately $250M in aggregate from the monetization of these assets as it continues to optimize its portfolio, potentially including the sale of additional non-core assets. Bed Bath & Beyond has entered into a definitive agreement to sell Christmas Tree Shops to Handil Holdings. The purchase agreement includes all 80 brick-and-mortar Christmas Tree Shop locations and a Middleborough, Massachusetts distribution center. Handil Holdings expects to continue operating Christmas Tree Shops as a stand-alone retail brand. The companies have agreed to a transition service agreement, following the close of the transaction, to help ensure business continuity, particularly during the upcoming holiday season. The transaction is expected to close in November, subject to customary closing conditions. The company has also entered into a definitive agreement to sell its Linen Holdings business to The Linen Group, an affiliate of Lion Equity Partners. Linen Holdings will be merged with Riegel Linen, an existing Lion Equity portfolio company. Linen Holdings provides a broad selection of quality linen, terry, amenities, case goods and apparel to world-class businesses in the global hospitality and healthcare industries. The sale of Linen Holdings is expected to close in October, subject to customary closing conditions. Additionally, Bed Bath & Beyond has agreed to sell its distribution center in Florence, New Jersey to an institutional buyer. The sale continues the company's strategic program to streamline and modernize its distribution and omni-fulfillment capabilities as part of an ongoing review of real estate assets. Bed Bath & Beyond has signed a lease agreement with the buyer to continue operations and provide business continuity during a transition period. The Florence distribution center sale is expected to close in October, subject to customary closing conditions.
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ZMTP | Hot Stocks16:33 EDT Zoom Telephonics chairman Hitchcock buys almost $9M in shares - Zoom Telephonics Chairman Jeremy Hitchcock purchased 3,543,894 shares of company stock at $2.50 per share on October 9 , for a total transaction amount of $8,859,735.
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URBN | Hot Stocks16:33 EDT Urban Outfitters announces management changes - Richard A. Hayne, CEO, of Urban Outfitters announced the following changes to the Company's management structure to better support URBN's future growth and strategic initiatives. Meg Hayne has been promoted to Co-President and will remain Chief Creative Officer. Meg will continue to manage the creative functions she currently oversees. In addition, our three large Brands and Sourcing will now report to Meg. Frank Conforti has been promoted to Co-President and COO. Frank will assume additional responsibility for URBN's Fulfillment & Logistics, Development, Legal, Talent and Human Resources Departments. Frank will continue to operate as CFO while the Company begins a search for his successor. Sheila Harrington has been promoted to CEO of the Free People Group.Hillary Super has been promoted to CEO of Anthropologie Group. Azeez Hayne has been promoted to Chief Administrative Officer and will remain General Counsel. Azeez will assume responsibility for URBN's Talent and Human Resources departments. Dave Hayne has been promoted to CTO and will remain the President of Nuuly. Dave will assume the additional responsibilities for URBN's IT department. Calvin Hollinger, COO of URBN, will be leaving the Company at the end of the month to pursue other opportunities.
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KDMN NDAQ | Hot Stocks16:24 EDT Kadmon to transfer U.S. stock exchange listing to Nasdaq - On October 13, Kadmon Holdings (KDMN) provided written notice to the New York Stock Exchange that the company intends to voluntarily delist its shares of common stock, par value $0.001 per share from NYSE, effective as of the close of trading on October 23, and transfer the listing of its Common Stock to the Nasdaq Global Select Market. Trading on Nasdaq (NDAQ) is expected to commence on the next business day, October 26. The company's common stock will continue to trade under the stock symbol "KDMN."
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TRTC | Hot Stocks16:23 EDT Terra Tech Corp CEO Matthew Morgan to step down, Michael Nahass to succeed - Terra Tech Corp announced it has appointed Michael Nahass as CEO. Nahass currently serves as Terra Tech's president, COO, secretary and treasurer as well as a director, and has been working at Terra Tech since its inception. Nahass was instrumental in the start-up operations of Terra Tech and he continues to manage the daily activities of Terra Tech. He takes over the position from Matthew Morgan, who has been CEO since February as he is stepping down to pursue other interests.
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ACGL | Hot Stocks16:21 EDT Arch Capital estimates Q3 catastrophe losses of $190M-$210M - Arch Capital Group said that its 2020 third quarter results will be negatively impacted by a set of catastrophe events that occurred during the third quarter, including Hurricanes Isaias, Laura, and Sally, the Derecho Windstorm, California Wildfires and other minor global events. As a result, the company has established a range of pretax catastrophe losses of $190M-$210M in the 2020 third quarter across its property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums. Included in these estimates is a range of estimates of $10M-$15M for ongoing exposure to COVID-19 global pandemic claims. For clarity, the estimates specific to the global pandemic are in addition to the $260M estimate previously disclosed by the company in its Quarterly Report on Form 10-Q for the six months ended June 30, 2020. The ranges of estimates above are for the company's insurance and reinsurance segments only. The company will report on the mortgage segment results when it releases 2020 third quarter results, which is currently scheduled for Oct. 29 after markets close.
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ALK | Hot Stocks16:20 EDT Alaska Air expects October cash burn to be approximately $125M - Alaska Air said in a regulatory filing: "Our September cash burn was approximately $117M, which is higher than our August cash burn due to additional spend for incremental flying and increased debt service payments, offset by improved cash bookings. We expect October cash burn will be approximately $125M. This estimate excludes the $30M payment associated with furlough mitigation programs. It also assumes that demand levels improve slightly from September. Our cash burn measurement includes all operating cash receipts and disbursements, such as cash from bookings net of refunds, other operational cash in (loyalty, cargo, etc.), plus investment earnings, offset by all cash expenditures including normal debt service and capital expenditures. Cash burn excludes financing raised and payroll support funding. On September 28, 2020, Air Group closed an agreement with the U.S. Department of the Treasury to borrow up to $1.9B under the CARES Act loan program. We have drawn $135M to date, and remaining amounts are available to draw through March 31, 2021. As of October 9, 2020, Air Group had cash and short-term investments of approximately $3.6B, which excludes any cash and short-term investments held at McGee and ASA Assurance, Inc."
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CWT | Hot Stocks16:19 EDT California Water Service completes Palos Verdes infrastructure upgrade - California Water Service or Cal Water, "has completed the utility's largest water infrastructure upgrade in company history. Known as the Palos Verdes Peninsula Water Reliability Project, the project enhances the reliability of the drinking water infrastructure on the Palos Verdes Peninsula and will help ensure that all Peninsula residents and firefighters continue to have safe, reliable water service for their everyday and emergency needs." Prior to the project's completion, 90% of the Palos Verdes Peninsula was served by one 60-year-old drinking water pipeline and a single pump station. The project replaced a portion of the existing water pipeline and added a second pipeline to deliver drinking water to homes and businesses. In total, crews installed about seven miles of new pipeline. Additionally, the project added a second pump station on a separate electrical grid that will help guard against the risk of prolonged water service
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AXS | Hot Stocks16:19 EDT Axis Capital estimates Q3 pretax loss $225M-$255M from catastrophe events - Axis Capital Holdings announced a preliminary net loss estimate in the range of $225M-$255M pre-tax, or $190M-$220M after-tax, for third quarter catastrophes and other events. This net loss estimate relates to Hurricanes Laura and Sally, the Midwest derecho, wildfires across the West Coast of the United States, the Beirut explosion and regional weather events in the United States, and is attributable to the company's insurance and reinsurance segments. The company also reaffirmed no change to its net loss estimate associated with first party coverages established for the COVID-19 pandemic in the first quarter of 2020. AXIS Capital reported accelerating improvements in pricing across most insurance lines of business. In addition, AXIS Capital noted improving trends in current accident year loss ratios excluding catastrophe and weather-related losses for its insurance and reinsurance businesses consistent with progress observed in the first half of 2020.
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ALK | Hot Stocks16:19 EDT Alaska Air sees capacity reductions into 2021, 'right-sizing' workforce - Alaska Air said in a regulatory filing "Capacity reductions are expected to continue into 2021 and we have begun to right-size our workforce. To mitigate potential furloughs we initiated early-out programs for all our frontline work groups and have also offered extended incentive leaves to pilots and aircraft mechanics. These mitigation programs were accepted by more than 4,000 employees. Effective October 1, 2020, approximately 400 employees, primarily flight attendants, were placed on an involuntary furlough. Based on current capacity and network expectations, we anticipate recalling many of these employees by end of the year. Collectively, the early-out, incentive leave and non-union management reductions will result in a one-time cost of approximately $320M, which will be recorded in the third quarter. One-time cash payments of approximately $30M for these programs will be made in October, and the remaining cash payments will span the life of the mitigation program or up to two years."
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NYT | Hot Stocks16:17 EDT New York Times reduces pension obligations by $235M - The New York Times Company announced that it has entered into an agreement with Massachusetts Mutual Life Insurance Company under which approximately $235M in pension obligations under The New York Times Companies Pension Plan will be transferred to MassMutual. This arrangement is part of the company's continued effort to manage the overall size and volatility of its pension plan obligations, and the administrative costs related thereto. Under the agreement, the pension plan will purchase from MassMutual a group annuity contract for approximately 1,850 retirees that will provide for an irrevocable commitment by MassMutual to make annuity payments to the affected retirees. As a result, the payment obligation and administration thereof for the affected retirees will be transferred to this highly rated insurance company with a long history of efficiently providing annuity benefits. The transfer will not change the amount of the monthly pension benefits received by the affected retirees. Affected retirees will soon receive information packages with further details. No action is required on their part. The company expects to finalize the transaction by early 2021. The purchase of the group annuity contract will be funded through existing pension plan assets. As a result of the transaction, the company expects to recognize a non-cash pension settlement charge of approximately $80M-$85M before tax in the fourth quarter of 2020. This charge represents the acceleration of deferred charges currently accrued in accumulated other comprehensive income.
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THG | Hot Stocks16:16 EDT Hanover Insurance sees Q3 catastrophe losses close to $66M - The Hanover Insurance Group announced it expects its Q3 catastrophe losses to be approximately $66M, before taxes, or $52M after taxes, driven primarily by Hurricane Isaias and wildfires in California and Oregon. The estimate also includes approximately $10M, before taxes, of favorable prior-year development on several events from recent accident years. Overall catastrophe losses in the quarter are estimated to be approximately 5.8% of net premiums earned, only 1.0 point above the company's Q3 catastrophe budget of 4.8%. The company anticipates the slightly elevated catastrophe losses in the quarter will be offset by lower than expected ex-cat current accident year losses, primarily due to moderating, but still lower than usual frequency in personal auto.
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DOV | Hot Stocks16:16 EDT Dover's Pole/Zero awarded $24M contract by U.S. Navy - Pole/Zero, part of Microwave Products Group and Dover, has been awarded a $24.2M delivery order from the U.S. Navy as part of what initially was a $66M indefinite delivery, indefinite quantity contract that was originally awarded back in 2018. The new delivery order includes antenna interface units and mounting trays, technical data, and post-delivery support for the P-8A Poseidon Lot 11 full-rate production aircraft in support of the U.S. Navy and its allies located in New Zealand and the Republic of Korea. Additionally, spare units ordered will be distributed throughout the P-8A end customer locations. Manufacturing will be performed at Pole/Zero's world-class facility located in West Chester, Ohio, and deliveries will be completed by March 2023.
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RNR | Hot Stocks16:16 EDT RenaissanceRe estimates Q3 net negative impact of $325M from catastrophe events - RenaissanceRe announced it currently estimates that losses from third quarter 2020 catastrophe events will have an estimated net negative impact of approximately $325M on its third quarter 2020 results of operations. The estimated net negative impact is primarily driven by losses from Hurricanes Laura and Sally, as well as the wildfires in California, Oregon and Washington. In addition, losses from other catastrophe events including the August 2020 derecho which impacted the U.S. Midwest, Hurricane Isaias and Typhoon Maysak, as well as aggregate losses associated with these and other events, contributed to the estimated net negative impact. These events caused widespread damage to both personal and commercial property in and around the impacted regions. For the third quarter of 2020, the company expects to report modest net income available to common shareholders; however, it expects to report an operating loss attributable to common shareholders. Hurricane Delta, a Category 2 hurricane, made landfall on the Yucatan Peninsula on October 7, 2020, and subsequently in Louisiana on October 9, 2020, causing widespread flooding and damage, including in the region impacted by Hurricane Laura. Additionally, the wildfires impacting California are ongoing. The company is in the preliminary stage of assessing the impact of Hurricane Delta and the continuing impact of the California wildfires beyond the third quarter of 2020. The estimated losses for these events will be reported in the Company's fourth quarter financial results.
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LOOP | Hot Stocks16:12 EDT Loop Industries says Hindenburg Research report contained 'factual inaccuracies' - Loop Industries commented on the report published by Hindenburg Research this morning. The company said the report contained factual inaccuracies. Per the Hindenburg report, Hindenburg holds a short position in Loop Industries stock. Loop said, "Hindenburg Research has not engaged with Loop directly nor does Loop Industries believe Hindenburg Research has done the required due diligence for this report. The claims it makes are either unfounded, incorrect, or based on the first iteration of Loop's technology, known as Gen 1, which was in use between 2014 and 2017. In 2017, Loop reinvented its process and developed its Gen 2 technology, which is at the core of Loop's commercialization projects. Loop's focus remains on commercializing its technology to meet growing global demand for infinitely recyclable PET plastic and polyester fiber made from 100% recycled content."
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CTRA | Hot Stocks16:08 EDT Contura Energy says number of 'assertions' in MG Capital letter 'inaccurate' - Contura Energy issued the following statement in response to the letter the company's Board of Directors received from MG Capital Management: "Contura welcomes the opportunity to engage with its shareholders and we welcome constructive input relating to enhancing shareholder value. We remain focused on delivering long-term shareholder value and will continue to take actions to achieve that objective. Although we would have preferred that MG Capital engage with Contura privately, we have reviewed and considered the MG Capital letter. MG Capital, the Board, and the executive management team are closely aligned in their goals and strategic direction for the Company; however, we believe that a number of the underlying assertions in the letter are inaccurate and we wish to clarify some of them. As coal industry investors are aware, the last year has been one of the most challenging years for U.S. coal producers due to a variety of factors, including weak global coal demand, low coal prices, and, of course, the COVID-19 pandemic. Contura's executive management, in concert with its Board, acted quickly to rationalize its production and cut costs to manage through these issues. The Board of Directors and the executive team share MG Capital's desire that Contura exit the thermal coal sector as efficiently as possible consistent with the best interests of the shareholders. The Company has already undertaken and announced various steps to achieve that goal. As previously announced, Contura is actively marketing the Cumberland mine for divestiture, which, if successful, will constitute a major element of the Company's planned exit from the thermal coal sector. The Board of Directors has fully supported the executive team in both the development of the Company's thermal exit strategy and in the steps that have already been taken to implement that strategy. Contura attempted to divest its Powder River Basin thermal coal properties through a transaction with Blackjewel L.L.C. in December 2017, prior to the merger between Contura and Alpha Natural Resources. Unfortunately, Blackjewel filed for Chapter 11 bankruptcy protection on July 1, 2019, before the transfer of certain mining permits to Blackjewel was completed. Because the transfer of the permits had not been completed, the contingent reclamation liability related to the permits remained an obligation of Contura. When this occurred, Contura was able to move quickly to relieve itself of all liabilities related to the former Wyoming operations with a transaction with Eagle Specialty Materials. This transaction was completed with the unanimous support of the Board of Directors. This concluded the Company's exit from its thermal-coal operations in the Powder River Basin and it no longer retains any contingent liability related to those operations. With respect to Board and executive management compensation, the Board has in fact reacted to the COVID-19 pandemic. In May 2020, each member of the executive management team voluntarily took a 5% reduction in salary. In the same month, the Board's compensation committee, which includes all of the 'legacy directors,' as defined in the MG Capital letter, unanimously determined that all of the Company's non-employee directors should join the Company's executive management in this effort by accepting a 5% reduction in their annual retainers. We have been advised by our compensation consultants that our Board compensation is well within the norms of our peers. Contura's executive management team believes that each of the Company's directors, including the 'legacy directors,' have provided value to the Company and its stockholders, and that executive management has the complete support of the Board, including with respect to the Company's focus on strategic initiatives, such as its transition to a pure-play metallurgical products provider, its focus on safe and productive operations, and its pursuit of aggressive cost control. Pursuant to our corporate governance guidelines, the Board routinely considers issues such as the size and composition of the Board of Directors to provide fresh perspectives and additional expertise consistent with our goals. Indeed, as the needs of the Company have evolved, the Board reduced the overall size of the Board by two, with four directors leaving, while adding two new directors-Emily Medine and Scott Vogel-since mid-2019. The Board welcomes input from the Company's stockholders, including MG Capital, regarding size and composition of the Board."
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ICFI | Hot Stocks16:07 EDT ICF International awarded $9M task order by U.S. DOL - ICF was recently awarded a $9M re-compete task order for research support services under its blanket purchase agreement with the U.S. Department of Labor, or DOL, Bureau of International Labor Affairs, or ILAB. The five-year task order includes a one-year base and four one-year option periods. Under this contract, ICF will continue to provide research and publication support for ILAB's production of congressional and executive order reports on child labor, forced labor and human trafficking.
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FANG | Hot Stocks16:06 EDT Diamondback Energy reports Q3 average production of 170 mbo/d - Q3 average realized hedged prices of $38.17 per barrel of oil, $12.09 per barrel of natural gas liquids and 95c per Mcf of natural gas, resulting in a total equivalent price of $26.22 per BOE; hedged pricing excludes $5.8M of realized gains from the early termination of 6.55 MBO/d of Q4 2020 oil hedges. Q3 average unhedged realized prices of $38.75 per barrel of oil, $12.09 per barrel of natural gas liquids and $1.11 per Mcf of natural gas, resulting in a total equivalent price of $26.75 per BOE. Reports Q3 cash capital expenditures of $281M. Q3 2020 activity-based CAPEX incurred of approximately $206 M. "After returning curtailed production in a second quarter that included minimal completion activity due to a historic decline in commodity prices, Diamondback returned to work in the third quarter to stem production declines and stabilize our production base. As expected, production bottomed in the third quarter and is set to rise slightly in the fourth quarter to meet our fourth quarter production target of between 170,000 and 175,000 barrels of oil per day. This production level is the proposed baseline for our future activity plans, and we anticipate we can hold this production flat in 2021 while spending 25% - 35% less capital than in 2020. We exited the quarter with no balance on our revolving credit facility, implying true free cash flow generation in the third quarter. Diamondback is expected to continue to generate free cash flow at current forward commodity prices, with excess free cash flow above our dividend to be used for debt retirement," stated Travis Stice, CEO of Diamondback.
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TWNK | Hot Stocks16:06 EDT Hostess Brands names Jerry Kaminiski chairman of the board - Hostess Brands announced that Dean Metropoulos has notified the company that he will resign from the company's board of directors at the end of 2020 in order to pursue other commitments. Current independent director Jerry Kaminski has been appointed Chairman of the Board, effective immediately. "Transforming Hostess into one of the premier branded CPG companies in the industry, initially as CEO and recently as Chairman, has been very successful," said Mr. Metropoulos. "Over the past two years, the management team has built a strong foundation and is positioned for continued industry leading revenue growth at industry leading margins, following the successful Voortman acquisition to build value. Hostess' best years are ahead and I am very confident the Company will continue to thrive, as it continues to establish new platforms for incremental growth, both organic and through acquisitions." The Board of Directors has appointed current independent director Jerry Kaminski as its new Chairman. Mr. Kaminski has served on Hostess' Board of Directors since November 2016 and is currently Executive Vice President and Chief Operating Officer at Land O'Lakes Inc., where he has served in various roles since 2012.
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VNOM | Hot Stocks16:05 EDT Viper Energy reports Q3 production 26,409 boe/d - "Viper produced a strong third quarter, reflecting a 10% increase in oil production quarter over quarter as operators returned previously curtailed production and Diamondback resumed completion activity in areas where Viper has a significant mineral interest. Diamondback's forward plan will continue to focus on areas where Viper has a high mineral interest, showcasing the differentiated relationship between the two companies as they navigate this severe industry downturn. With net debt decreasing from peak levels due to strong free cash flow generation, as well as an improved forward outlook for both production and realized pricing, Viper is on track to return a higher percentage of available cash flow to unitholders in the second half of 2020 as compared to the first half," stated Travis Stice, Chief Executive Officer of Viper's general partner.
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SSD | Hot Stocks16:02 EDT Simpson Manufacturing names Michael Olosky as COO, succeeding Ricardo Arevalo - Simpson Manufacturing announced Michael Olosky will be joining the company as COO, effective November 30th. Olosky succeeds Simpson's former COO Ricardo Arevalo, who retired in February after 20 years of service to the company. Prior to joining Simpson, Olosky spent over 22 years in numerous leadership positions at Henkel, a global chemical and consumer goods company.
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DBX | Hot Stocks15:46 EDT Dropbox announces transition to a 'Virtual First company' - The Dropbox team said in a blog posting, in part: " Dropbox has always prioritized creativity and collaboration as key to building a thriving business, and our office spaces were designed for it. Though we make software that helps people work from anywhere, most of our employees came to an office every day. This year's abrupt shift to remote work was jarring for us, along with everyone else. But we're fortunate that our product helped us transition pretty seamlessly, and that it helped others too-we've seen increased adoption and usage this year. As virtually all work becomes digital, organizing all your team's content in one place has never felt so important. We believe the data shows the shift to remote work, though abrupt, has been successful overall. A new study from The Economist Intelligence Unit commissioned by Dropbox finds that knowledge workers are more focused at home and just as engaged as before. In our internal surveys most employees say they're able to be productive at home (nearly 90%) and don't want to return to a rigid five-day in-office workweek. As a company, we've continued to serve our customers without interruption and shipped new products and features. ..Starting today, Dropbox is becoming a Virtual First company. Remote work (outside an office) will be the primary experience for all employees and the day-to-day default for individual work." Reference Link
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CMCSA | Hot Stocks15:39 EDT Comcast announces Xfinity Mobile expanding 5G coverage nationwide - Comcast announced Xfinity Mobile is expanding its 5G coverage nationwide across the U.S. Starting October 14, Xfinity Mobile's nationwide 5G network will be available on all Xfinity Mobile data options and can be accessed by all 5G-enabled devices in the Xfinity Mobile portfolio, the company announced.
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RTX | Hot Stocks15:24 EDT Raytheon Technologies announces StormBreaker smart weapon approved for F-15E - Raytheon Missiles & Defense, a Raytheon Technologies business, announced the StormBreaker smart weapon has been approved for use on the F-15E by the U.S. Air Force's Air Combat Command. The fielding decision means that F-15E squadrons can now be equipped with StormBreaker and deployed for missions. The smart weapon's initial fielding on the F/A-18E/F Super Hornet for the U.S. Navy later this year and integration for fielding on the F-35 Joint Strike Fighter are next for the program.
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H | Hot Stocks15:03 EDT Hyatt, Genting announce plans for new hotel at Resorts World Casino New York - Hyatt Hotels (H) and Genting Americas announced plans for a new hotel located at Resorts World Casino New York City, or RWNYC. Hyatt Regency JFK at Resorts World New York is scheduled to open in the first quarter of 2021 and will be "an eight-story 400-room four-star hotel with residential-inspired guestrooms and premium suites with energizing design and insightful in-room technology," the companies stated. Pete Sears, Americas group president, Hyatt, added: "This new hotel will be a testament to Hyatt's commitment to growing with intent in markets that matter most to our loyal members and global guests."
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ELAN | Hot Stocks15:02 EDT Elanco recommends shareholders reject TRC's 'mini-tender' offer - Elanco Animal Health Incorporated has received a notification of an unsolicited "mini-tender" offer by TRC Capital Investment Corporation to purchase up to 4,000,000 shares of Elanco common stock, representing approximately 1.00% of the outstanding shares of Elanco common stock. TRC Capital's offer price of $26.45 per share is approximately 4.5% lower than the $27.70 closing price per share of Elanco common stock on the New York Stock Exchange on October 2, 2020, the last trading day before the date of the offer, and approximately 21.7% below the $33.79 closing price per share of Elanco common stock on October 12, 2020, the last trading day before the date of this press release. Elanco does not endorse TRC Capital's mini-tender offer and is not associated in any way with TRC Capital, its mini-tender offer or its mini-tender offer documents. Elanco recommends that shareholders do not tender their shares in response to the offer because the offer price is below the current market value for shares of Elanco common stock. The offer is subject to a number of conditions, including, among others, that there has not been a decrease in the market price of shares of Elanco common stock and TRC Capital's ability to obtain financing sufficient to consummate the offer. Elanco also recommends that shareholders who have tendered shares to TRC Capital withdraw those shares by providing the written notice described in the offering documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m., New York City time, on November 3, 2020.
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LLY | Hot Stocks14:41 EDT Eli Lilly down 3% after COVID-19 antibody trial paused for safety concerns - In afternoon trading, shares of Eli Lilly are down $4.34, or 2.8%, to $150.15.
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FB | Hot Stocks14:39 EDT Facebook to reject ads discouraging people from getting vaccines - In a blog post, Facebook announced new steps as part of its work to help "support vaccine efforts." These include: Launching a new flu vaccine information campaign on Facebook, including new product features that provide additional vaccine-related content; Rejecting ads globally that discourage people from getting a vaccine, and; Working with global health partners on campaigns to increase immunization rates. "The COVID-19 pandemic has highlighted the importance of preventive health behaviors," Facebook said. "While public health experts agree that we won't have an approved and widely available COVID-19 vaccine for some time, there are steps that people can take to stay healthy and safe. That includes getting the seasonal flu vaccine." Reference Link
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KL | Hot Stocks14:18 EDT Kirkland Lake Gold reports Q3 production up 37%, raises quarterly dividend 50% - Earlier in the day, Kirkland Lake Gold announced production results for the third quarter and first nine months of 2020. Q3 2020 production totaled 339,584 ounces, an increase of 91,184 ounces or 37% from 248,400 ounces for the third quarter of 2019. For YTD 2020, the Company produced 1,000,218 ounces, 305,345 ounces or 44% higher than the first nine months of 2019. The company also announced today a 50% increase in the quarterly dividend, to 18.75c per share, effectiveQ4. The company's cash position increased 58% during Q3 2020 to $848M at September 30, 2020 with no debt. The increase in cash reflected proceeds from the sale of 331,959 ounces of gold during Q3 2020 at an average realized price of $1,907 per ounce. Also contributing to the growth in cash during the quarter were proceeds of $109.1M from the sale of the company's 32.6M shares of Osisko Mining Inc. and $75M received from Newmont Canada FN Holdings through a strategic alliance agreement.
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GD | Hot Stocks14:13 EDT General Dynamics subsidiary awarded $327.8M contract modification - General Dynamics Electric Boat, a wholly-owned subsidiary of General Dynamics, has been awarded a $327.8M cost-plus-fixed-fee contract modification for FY20 for lead yard support, development studies and design efforts for Virginia-class submarines. Under the contract modification, Electric Boat will undertake development studies and other work related to Virginia-class submarine design improvements, including incorporation of new technologies.
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AAPL | Hot Stocks14:11 EDT Apple announces iPhone 12 and iPhone 12 mini - Apple unveiled iPhone 12 and iPhone 12 mini with 5G technology, "ushering in a new era for the world's best smartphone." iPhone 12 models feature edge-to-edge Super Retina XDR displays and a new Ceramic Shield front cover, "providing the biggest jump in durability ever on iPhone," according to Apple's press release. The Apple-designed A14 Bionic "powers every experience on iPhone 12, and coupled with an advanced dual-camera system, delivers meaningful new computational photography features and the highest quality video in a smartphone," Apple added. iPhone 12 models also introduce MagSafe, offering high-powered wireless charging and an all-new ecosystem of accessories, the company said. iPhone 12 and iPhone 12 mini will be available in 64GB, 128GB, and 256GB models in blue, green, black, white, and (PRODUCT)RED, starting at $799 and $699, respectively. Pre-orders for iPhone 12 begin Friday, October 16, with availability beginning Friday, October 23. iPhone 12 mini will be available for pre-order beginning Friday, November 6, and in stores beginning Friday, November 13.
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GD | Hot Stocks14:11 EDT General Dynamics unit awarded $364M contract - General Dynamics Information Technology, a business unit of General Dynamics, announced it has been awarded a contract by the General Services Administration Federal Systems Integration and Management Center to continue providing digital enterprise services for Special Operations Forces. GDIT will design and implement technology capabilities to enable rapid data analysis and dissemination of critical operational intelligence in response to emerging threats. The SOF Information Technology Enterprise Contract J is a single award with a total estimated value of $364M. It includes a one-year base period with four one-year options.
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AAPL | Hot Stocks14:10 EDT Apple unveils iPhone 12 Pro, iPhone 12 Pro Max with 5G - Apple announced iPhone 12 Pro and iPhone 12 Pro Max, introducing a powerful 5G experience and advanced technologies that push the boundaries of innovation for users who want the most out of iPhone. iPhone 12 Pro models feature a new design and edge-to-edge Super Retina XDR displays, the largest ever on iPhone, protected by the all-new Ceramic Shield front cover, which provides the biggest jump in durability ever on iPhone. The Apple-designed A14 Bionic chip, the fastest chip in a smartphone, powers impressive computational photography features including the all-new Apple ProRAW for more creative control in photos, and enables the first end-to-end Dolby Vision video experience, up to 60 fps. The reimagined pro camera systems include an expansive Ultra Wide camera, a Telephoto camera with an even longer focal length on iPhone 12 Pro Max, and new Wide cameras to capture beautiful professional-quality images and video in bright and low-light environments. iPhone 12 Pro models also introduce a new LiDAR Scanner for immersive augmented reality experiences and MagSafe, which offers high-powered wireless charging and an all-new ecosystem of accessories that easily attach to iPhone. iPhone 12 Pro and iPhone 12 Pro Max will be available in four stainless steel finishes, including graphite, silver, gold, and pacific blue. Pre-orders for iPhone 12 Pro begin Friday, October 16, with availability beginning Friday, October 23. iPhone 12 Pro Max will be available for pre-order Friday, November 6, and in stores beginning Friday, November 13. iPhone 12 Pro and iPhone 12 Pro Max will be available in 128GB, 256GB, and 512GB models in graphite, silver, gold, and pacific blue starting at $999 and $1,099, respectively. Customers can also get iPhone 12 Pro for $29.12 a month or $699 with trade-in and iPhone 12 Pro Max for $30.37 a month or $729 with trade-in from apple.com, in the Apple Store app, and at Apple Store locations. iPhone 12 Pro and iPhone 12 Pro Max are also available through Apple Authorized Resellers and select carriers.
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AAPL | Hot Stocks14:07 EDT Apple says iPhone 12, iPhone 12 Pro will launch on October 23 - This comment was taken from the Apple Event.
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AAPL | Hot Stocks14:06 EDT Apple says iPhone 12 Pro will start at $999, iPhone 12 Pro Max at $1,099 - This comment was taken from the Apple Event.
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MSFT | Hot Stocks14:04 EDT Microsoft says backward compatible games to run natively on Xbox Series X/S - Microsoft said in a blog post that backward compatible games will run natively on the Xbox Series X and S, running with the full power of the CPU, GPU and SSD. No boost mode, no downclocking, the full power of the consoles for each and every backward compatible game. This means that all titles run at the peak performance that they were originally designed for, with significantly higher performance than their original launch platform, resulting in higher and more steady framerates and rendering at their maximum resolution and visual quality, the company said. Backward compatible titles also benefit from significant reductions in load times due to the massive leap in performance from our custom NVME SSD at the heart of theXbox Velocity Architecture. In addition, Microsoft said that with Xbox Series X and S, it is introducing a new feature called Auto HDR, which automatically adds HDR enhancements to games which only shipped with SDR. Auto HDR enhances the visual quality of an SDR game without changing the original artistic intent of the game. Auto HDR is implemented by the system so developers don't have to do any work to take advantage of this feature. Also, since Auto HDR is enabled by the console's hardware, there is absolutely no performance cost to the CPU, GPU or memory and there is no additional latency added ensuring you receive the ultimate gaming experience. Reference Link
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VZ AAPL | Hot Stocks14:01 EDT Verizon expands availability of 5G Ultra Wideband service to 55 U.S. cities - Verizon (VZ) announced that it "is driving 5G forward" by deploying its 5G Ultra Wideband service, built on mmWave spectrum, in 19 additional U.S. cities, 19 stadiums and six airports, and "doubling download speeds on the fastest 5G service in the world - reaching 4 Gbps peak speeds in some locations." Verizon noted that its expansion means availability of its 5G Ultra Wideband service is now available in 55 cities, 43 stadiums and arenas, and seven airports. "Verizon is also turning on 5G Nationwide service for more than 200 million people nationwide and developing exciting new solutions with partners who seek the same level of performance and operational excellence including the National Football League, The New York Times, and Riot Games. Verizon will be offering the first iPhone with 5G, and introducing powerful new capabilities to customers with Verizon's 5G Ultra Wideband and Nationwide networks," the company added, timing its press release to coincide with Apple's (AAPL) ongoing iPhone launch event.
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AAPL | Hot Stocks13:46 EDT Apple CEO Tim Cook introduces iPhone 12 Pro - This comment was taken from the Apple Event.
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AAPL | Hot Stocks13:45 EDT Apple says iPhone 12 will start at $799, iPhone 12 mini will start at $699 - This comment was taken from the Apple Event.
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AAPL | Hot Stocks13:43 EDT Apple introduces iPhone 12 mini, with 5.4 inch display - This comment was taken from the Apple Event.
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AAPL | Hot Stocks13:37 EDT Apple introduces MagSafe for iPhone, to improve wireless charging
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AAPL | Hot Stocks13:32 EDT Apple says iPhone 12 will play League of Legends: Wild Rift game - This comment was taken from the Apple Event.
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BHTG | Hot Stocks13:31 EDT BioHiTech Global receives additional food waste digester order valued at $300K - BioHiTech Global announced it has received an additional purchase order for its Revolution Series food waste digesters from Princess Cruises, valued at approximately $300,000. BioHiTech expects to deliver these digesters for installation on Princess Cruises' newest ship, the Enchanted Princess during the fourth quarter of 2020. "We continue to see sales momentum for our digesters in the cruise industry and this latest order from Princess Cruises represents their consistent commitment to sustainability and environmental stewardship," said Frank E. Celli, CEO of BioHiTech Global.
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AAPL GLW | Hot Stocks13:25 EDT Apple says iPhone 12 ceramic shield from Corning is 4 times more durable - This comment was taken from the Apple Event.
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AAPL | Hot Stocks13:21 EDT Apple introduces iPhone 12, which features 5G support - This comment was taken from the Apple Event.
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AAPL VZ | Hot Stocks13:20 EDT Verizon CEO Hans Vestberg discusses 5G ultra wideband at Apple Event - Verizon CEO Hans Vestberg said 5G ultra wideband will reach 60 cities this year.
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AAPL | Hot Stocks13:17 EDT Apple introduces HomePod mini, available for $99 - Apple unveiled HomePod mini, which it calls "the newest addition to the HomePod family that delivers impressive sound, the intelligence of Siri to get things done, and a smart home experience that offers comfort and convenience without complexity. Apple added: "At just 3.3 inches tall, HomePod mini is packed with innovative technologies and advanced software that together enable computational audio to deliver breakthrough audio quality wherever it is placed." HomePod mini will be available in white and space gray for $99 in the U.S. from apple.com, in the Apple Store app, Apple Store locations, and through Apple Authorized Resellers and select carriers. Customers in Australia, Canada, France, Germany, Hong Kong, India, Japan, Spain, the UK, and the U.S. are able to order HomePod mini beginning at 5 a.m. PST on Friday, November 6, with availability beginning the week of November 16. HomePod mini will be available in China, Mexico, and Taiwan later this year, Apple said.
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CLGX | Hot Stocks13:15 EDT CoreLogic estimates $0.7B-$1.2B in U.S. onshore losses from Hurricane Delta - CoreLogic announced residential and commercial storm surge and wind loss estimates for Hurricane Delta. According to this new data analysis, insured wind losses for residential and commercial properties in Louisiana and Texas are estimated to be between $500M and $900M. Insured storm surge losses are estimated to be an additional $200M to $300M. Damage to offshore structures ranges from $0.8B to $1.5B. Hurricane Delta made landfall near Creole, Louisiana, on Friday, October 9, as a mid-Category 2 storm with a maximum sustained surface wind speed of 100 miles per hour, making Delta the second hurricane in six weeks to make landfall along the southwestern coast of Louisiana. As Hurricane Delta approached the western Louisiana coast, the storm encountered an environment of high wind shear and weakened just before landfall in Cameron Parish, about 15 miles east of where Hurricane Laura devastated communities in late August.
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AAPL | Hot Stocks13:15 EDT Apple CEO Tim Cook announces bringing 5G to iPhone - This comment was taken from the Apple Event.
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AAPL | Hot Stocks13:13 EDT Apple HomePod mini to cost $99, will start shipping on November 16 - This comment was taken from the Apple Event.
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CRVL | Hot Stocks13:09 EDT CorVel Chairman Gordon Clemons sold over $268K in company shares - CorVel Chairman Gordon Clemons sold 3,000 shares of stock between October 8 and October 12 for $89.36 per share for a total transaction of $268,082.
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AAPL | Hot Stocks13:04 EDT Apple introduces HomePod Mini smart speaker - This comment was taken from the Apple Event.
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OTRK | Hot Stocks12:35 EDT Ontrak rises after announcing launch of Ontrak-CI program - Shares of Ontrak (OTRK) are up nearly 6% 6o $66.00 in afternoon trading after the company announced this morning the launch of its Ontrak-CI solution for Medicare Advantage members of a "National Health Plan" in a simultaneous 13-state expansion. Subsequent to a three-year contract awarded to Ontrak in June 2020, the company is now enrolling Medicare Advantage members in 13 additional states, Ontrak stated, without identifying the partner company in its press release. Terren Peizer, Chairman and CEO of Ontrak, stated, "This is the second national health plan to roll out our Ontrak program across their national book of business. While the expansion of business with the nation's largest health plans is rarely a rapid process, we were able to establish a trusted partnership with this health plan during the additional 9 months that it took to overcome some of their 2019 enterprise reorganization and 2020 data integration challenges. With anxiety approaching record highs nationwide, particularly among the Medicare population, we look forward to providing critical behavioral healthcare to these members and to leveraging our strong ROI and clinical outcomes for this health plan into their other books of business."
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VERB | Hot Stocks12:31 EDT Verb Technology names Mitch Bledsoe as CIO, Julie Holdren chief product officer - VERB Technology announced the appointments of Mitch Bledsoe as Chief Information Officer and Julie Holdren as Chief Product Officer. The new executives will be instrumental in driving the company's product solutions and scaling its global information technology infrastructure, the company said in a statement.
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GTLS | Hot Stocks12:29 EDT Chart Industries signs strategic commercial hydrogen MOU with McPhy - Chart Industries announced of its firm undertaking to subscribe to the share capital increase initiated today by McPhy for an amount of 30M euros, which will result in approximately c. 4.3% of the capital of McPhy, post completion of an anticipated 150M euros capital offering. McPhy specializes in zero-carbon hydrogen production and distribution equipment.In conjunction with the strategic investment, Chart and McPhy also executed a commercial Memorandum of Understanding. The MoU between McPhy and Chart is intended to set the pace of commercial collaboration to stimulate new hydrogen demand for the parties' respective equipment and solutions globally, by identifying new customers and projects. Chart and McPhy will also work on studying options to scale up projects for production, storage, transport and fueling in all addressable markets. Included at the end of this release is a supplemental presentation that describes the agreement and expanded addressable market for Chart's hydrogen business by 2023 to $1.1B.
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CCL CUK | Hot Stocks12:07 EDT Carnival updates on breach, says unauthorized party gained access in August - Carnival Corporation and plc issued an update to its August 17 announcement, stating: "As earlier disclosed, Carnival Corporation & plc detected unauthorized third-party access to portions of the company's information technology systems on August 15, 2020. Information Security at Carnival Corporation acted quickly to shut down the intrusion, restore operations and prevent further unauthorized access. The company also engaged a major cybersecurity firm to investigate the matter and notified law enforcement and appropriate regulators of the event. While the investigation is ongoing, early indications are that in early August the unauthorized third party gained access to certain personal information relating to some guests, employees and crew for three of the corporation's brands -- Carnival Cruise Line, Holland America Line and Seabourn, as well as casino operations. Working with its cybersecurity consultants, the company took steps to recover its files and has evidence indicating a low likelihood of the data being misused. The company is working as quickly as possible to identify the guests, employees, crew and other individuals whose personal information may have been impacted. The company expects to complete this process within the next 30 to 60 days and will then send notifications to potentially affected individuals whose current contact information is available to the company. Along with those individual notices, affected individuals will be offered complimentary credit monitoring, as appropriate. Meanwhile, the company has posted website notices and established a dedicated call center to answer questions regarding the event. When the investigation is complete, callers may confirm whether or not their information was affected... As part of its ongoing operations, the company is continuing to review security and privacy policies and procedures and implementing changes when needed to enhance information security and privacy controls."
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RCL | Hot Stocks12:00 EDT Royal Caribbean falls -10.5% - Royal Caribbean is down -10.5%, or -$7.34 to $62.49.
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EBS | Hot Stocks12:00 EDT Emergent BioSolutions falls -10.9% - Emergent BioSolutions is down -10.9%, or -$12.16 to $99.31.
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GSL | Hot Stocks12:00 EDT Global Ship Lease falls -11.0% - Global Ship Lease is down -11.0%, or -81c to $6.57.
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ETH | Hot Stocks12:00 EDT Ethan Allen rises 12.2% - Ethan Allen is up 12.2%, or $1.91 to $17.54.
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SOL | Hot Stocks12:00 EDT ReneSola rises 15.5% - ReneSola is up 15.5%, or 53c to $3.92.
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AFI | Hot Stocks12:00 EDT Armstrong Flooring rises 18.4% - Armstrong Flooring is up 18.4%, or 70c to $4.50.
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GTLS WOR | Hot Stocks11:32 EDT Chart acquires Worthington's cryogenic trailer, hydrogen trailer business - Chart Industries (GTLS) completed the acquisition of the Theodore, Alabama cryogenic trailer and hydrogen trailer assets of Worthington Industries (WOR). This acquisition includes ownership of the Theodore, Alabama manufacturing site, all trailer-related intellectual property, manufacturing capabilities, equipment and repair backlog. The facility has approximately 300,000 square feet under roof adjacent to the Port of Mobile, and the associated employees will join the Chart team. This acquisition will produce strong synergies by combining Chart's deep knowledge of cryogenics and liquid hydrogen storage and handling with the Theodore operation's expertise and experience in the packaging and assembly of liquid hydrogen trailers. The addition of the trailer business to Chart's hydrogen equipment and solution offering expands our mobile equipment to larger sized transports and brings another location already certified by significant hydrogen customers. Expected Chart hydrogen-related revenue from this facility in 2021 is $15M to $20M with upside potential to $30M in 2021.
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BA | Hot Stocks11:26 EDT Boeing reports no new orders, 11 aircraft delivered in September - Boeing announced on its website that it did not book any new orders in September and delivered 11 commercial aircraft. Boeing reports year-to-date gross orders of 67 and year-to-date net orders down 983. Reference Link
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MRNA | Hot Stocks11:05 EDT Moderna initiaties rolling submission to Health Canada for mRNA vaccine - Moderna announced the initiation of a rolling submission to Health Canada for mRNA-1273, the Company's vaccine candidate against COVID-19. This initiation follows positive results from a preclinical viral challenge study of mRNA-1273 and the positive interim analysis of the Phase 1 study of mRNA-1273 in healthy adults and older adults published in the New England Journal of Medicine. The rolling submission has been accepted under the Canadian Minister of Health's Interim Order, which permits companies to submit safety and efficacy data and information as they become available. This rolling review process allows Health Canada to begin its assessment using the information submitted by the applicant and accept new evidence as it becomes available until the application is deemed complete. This process can reduce time to authorization for these important new drugs while maintaining appropriate standards of safety, efficacy, and quality. Health Canada will not make a decision to authorize any vaccine being considered under rolling review until it has received all necessary evidence to support its safety and efficacy. Following the authorization of any vaccine submission, Health Canada will publish the evidence used in making its decision for transparency. On September 22, the Canadian Government increased its confirmed order commitment to 20 million doses of mRNA-1273. Moderna remains on track to be able to deliver up to 56 million doses of its COVID-19 vaccine to help protect Canadians beginning in 2021. The Canadian vaccine supply will be sourced from Moderna's European production capacity with its strategic manufacturing partner Lonza of Switzerland, and ROVI of Spain for fill-finish services. The Phase 1 interim analysis showed that mRNA-1273 was generally well-tolerated across all age groups and induced rapid and strong immune responses against SARS-CoV-2. In the 18-55 age group, neutralizing antibody titers were observed in 100% of evaluated participants and at the 100 microgram dose level selected for Phase 3, the geometric mean titers were above those seen in convalescent sera. Similarly, mRNA-1273 induced consistently high levels of pseudovirus neutralization antibody titers in all participants in the 56-70 and 71+ age groups. In addition, vaccination with mRNA-1273 elicited Th1-biased CD4 T cell responses in all age groups. mRNA-1273 is currently being studied in a Phase 3 randomized, 1:1 placebo-controlled trial of 30,000 participants at the 100 microgram dose level in the U.S. As of Friday, October 9, the Phase 3 COVE study has enrolled approximately 28,618 participants with 22,194 having received their second vaccination.
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BA | Hot Stocks11:05 EDT Boeing reports 28 commercial airplane deliveries in Q3 - Boeing announced major program deliveries across its commercial and defense operations for the third quarter of 2020, including 28 total commercial airplane program deliveries. "We continue to work closely with our customers around the globe, understanding their near-term and longer term fleet needs, aligning supply and demand while navigating the significant impact this global pandemic continues to have on our industry. We're taking actions to resize, reshape and transform our business to preserve liquidity, adapt to the new market reality and ensure that we deliver the highest standards of safety and quality as we position our company to be more resilient for the long term. Our diverse portfolio, including our government services, defense and space programs, continues to provide some stability as we adapt and rebuild stronger for the other side of the pandemic," said Greg Smith, Boeing executive vice president of Enterprise Operations and CFO. The Q3 total brings the company's commercial airplanes program deliveries to 98 in year-to-date 2020, Boeing noted.
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HGEN | Hot Stocks11:02 EDT Humanigen says NIH launches ACTIV-5 "Big Effect Trial" with lenzilumab - Humanigen announced that the National Institute of Allergy and Infectious Diseases, part of the U.S. National Institutes of Health, launched its ACTIV-5 "Big Effect Trial", designed to determine whether certain approved therapies or investigational drugs in late-stage clinical development show promise against COVID-19 and, therefore, merit advancement into larger clinical trials. ACTIV-5/BET, which will enroll at as many as 40 US sites, will evaluate lenzilumab with remdesivir, compared to placebo and remdesivir, in hospitalized COVID-19 patients with approximately 100 patients assigned to each study arm. Humanigen is providing lenzilumab for the study, which is fully funded by NIH. ACTIV-5/BET is being conducted in collaboration with the NIH's public-private partnership Accelerating COVID-19 Therapeutic Innovations and Vaccines program. The ACTIV partnership has evaluated approximately 400 therapeutic agents with a potential application for COVID-19 and developed a collaborative framework for prioritizing the most promising candidates, streamlining clinical trials, coordinating regulatory processes, and leveraging assets among all partners to rapidly respond to the COVID-19 and future pandemics. To date, ACTIV has designed five adaptive master protocols for ACTIV clinical trials, and selected numerous NIH-supported networks to launch these clinical trials to test prioritized therapeutic candidates.
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AWK | Hot Stocks10:44 EDT American Water names Valoria Amstrong as chief inclusion officer - American Water Works Company announced it has promoted Valoria Armstrong to vice president, External Affairs and Chief Inclusion Officer reporting to both Melanie Kennedy, senior vice president, Human Resources and Maureen Duffy, senior vice president, Communications and External Affairs. Armstrong will strengthen the company's commitment to inclusion & diversity by creating a comprehensive and integrated strategy to drive diversity, equity, mutual respect, and inclusiveness across the organization. She will also engage with key external stakeholders like the National Association of Regulatory Utility Commissioners, the U.S. Conference of Mayors, and serving on the board of directors of the National Utilities Diversity Council, among others.
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C | Hot Stocks10:43 EDT Citi watching for when to re-enter card acquisition efforts
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C | Hot Stocks10:36 EDT Citi does not see additional reserve builds this year
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RDHL | Hot Stocks10:32 EDT RedHill Biopharma announces pacts to expand COVID-19 candidate manufacturing - RedHill Biopharma announced collaborations with two specialist pharmaceutical manufacturers in Europe and Canada to ramp-up manufacturing of opaganib, currently in "swiftly progressing" global Phase 2/3 and U.S. Phase 2 studies for severe COVID-19 pneumonia, to support potential emergency use applications and subsequent demand. "In light of the rapid progress of our Phase 2/3 COVID-19 development program with opaganib, we are expanding manufacturing capabilities and capacity for opaganib with trusted and high-quality partners, to meet likely demand ahead of potential global emergency use applications," said Reza Fathi, RedHill's Senior VP, R&D. "The company is in discussions with U.S. government agencies around potential funding to support the rapid advancement of opaganib toward potential emergency use applications and manufacturing scale-up," RedHill added.
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C | Hot Stocks10:31 EDT Citi sees FY20 revenue 'roughly flat,' expenses up modestly
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C | Hot Stocks10:30 EDT Citi doesn't see material reserve builds, release in Q4
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C | Hot Stocks10:28 EDT Citi CFO expects losses to peak towards end of 2021
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C | Hot Stocks10:26 EDT Citi sees continued pressure in Consumer in Q4
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C | Hot Stocks10:25 EDT Citi sees net interest revenue, noninterest revenue down y/y in Q4
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DAL | Hot Stocks10:24 EDT Delta CFO says on track to end year with more than $16B in liquidity - Delta CFO Paul Jacobson said on the company's earnings call that Delta is on track to end the year with more than $16B in liquidity and adjusted net debt of approximately $19B.
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C | Hot Stocks10:16 EDT Citi CFO feels 'well prepared' for expected credit losses
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C | Hot Stocks10:15 EDT Citi sees reserve releases coming down in 2021 - Sees drop in allowance for loan losses in 2021.
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DAL | Hot Stocks10:12 EDT Delta to furlough roughly 1,700 pilots on Nov. 1 if no union deal, CEO says - Delta CEO Ed Bastian said on the company's earnings call: "I'm grateful to all those employees for the sacrifices, from those taking early retirement decisions to the 40,000 staff who took unpaid voluntary leaves throughout the pandemic and thus reducing our labor cost for our nonpilot groups by more than 40% over the past 6 months. This was the driving factor that allowed us to avoid furloughs and protect their jobs. We are still working with ALPA, and hopefully, we can achieve that same result with our pilots. But if not, we will be furloughing roughly 1,700 pilots on the first of November."
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C | Hot Stocks10:11 EDT Citi sees 'somewhat slower' recovery in unemployment, GDP through 2022
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C | Hot Stocks10:09 EDT Citi's Corbat: CEO-elect Jane Fraser driving transformation
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BW EOSE | Hot Stocks10:07 EDT Eos Energy enters partnership with Babcock & Wilcox to supply batteries - Eos Energy Storage announced that it has entered into an agreement with Babcock & Wilcox (BW) to be the exclusive battery supplier for B&W's global customer base of industrial, utility and power companies. The agreement will also enable Eos to leverage B&W's global experience as a leader in providing renewable energy and environmental technologies, services and solutions to utility and industrial customers. As previously announced, B. Riley Principal Merger Corp. II and Eos have entered into a definitive merger agreement for a business combination that would result in Eos becoming a publicly listed company. Upon closing of the transaction, the combined company will be renamed Eos Energy Enterprises and intends to list its shares of common stock on Nasdaq under the ticker symbol "EOSE". B&W will market, sell and service Eos' signature product, the Znyth zinc battery system, which is optimized for the critical longer duration stationary storage market and ideal for grid congestion and renewable power applications. Under the agreement, B&W subsidiary Babcock & Wilcox Construction Co., LLC, will be Eos' exclusive preferred installation provider for the technology in the United States and Canada.
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C | Hot Stocks10:07 EDT Citi: Foundation is 'sound,' 'stable,' 'secure' - Comments taken from Q3 earnings conference call.
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DAL | Hot Stocks10:07 EDT Delta CEO says 'no documented cases' of COVID-19 transmission on its flights - Delta Air Lines CEO Ed Bastian is speaking on the company's Q3 earnings call.
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MLSS PINC | Hot Stocks10:04 EDT Milestone Scientific awarded group purchasing agreement with Premier - Milestone Scientific (MLSS) announced that it has been awarded a group purchasing agreement for the CompuFlo Epidural System and CathCheck with Premier (PINC). Effective November 1, 2020, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for the CompuFlo Epidural System and CathCheck.
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RAD | Hot Stocks10:02 EDT Rite Aid announces paid time off, flexible hour policy for Election Day - Rite Aid announced a new paid time off and flexible hour policy for associates on Election Day, Tuesday, November 3, to ensure that all Rite Aid associates have time to vote and make their voices heard. For hourly associates scheduled to work on Election Day, Rite Aid is providing up to two hours of paid time off to guarantee that every associate has time to cast a ballot, without the worry of missing work obligations. Rite Aid is the first drugstore chain to announce a paid time off program for hourly associates. Additionally, the company is minimizing barriers to voting for corporate employees by instituting a policy to limit the hours for meetings scheduled and provide flexible hours on Election Day.
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HUM... | Hot Stocks10:02 EDT Humana reports additional retail pharmacies to preferred Medicare Part D network - Humana (HUM) announced that Kroger Health (KR) and its family of pharmacies, Costco (COST), Publix and HEB have joined its preferred stand-alone Medicare Part D pharmacy network for 2021. "Humana is committed to putting our members at the center of everything we do as we strive to make the healthcare experience better, more personal and more caring," said Susan Smith, Senior Vice President, Humana Medicare. "We welcome the addition of these four retail pharmacies to our preferred stand-alone Medicare Part D network. This significantly increases the number of locations where our members will be able to find low-cost options for their prescription medications." The new agreements will take effect on January 1, 2021.
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SOL | Hot Stocks10:00 EDT ReneSola rises 8.0% - ReneSola is up 8.0%, or 27c to $3.66.
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ETH | Hot Stocks10:00 EDT Ethan Allen rises 13.4% - Ethan Allen is up 13.4%, or $2.09 to $17.72.
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IH | Hot Stocks10:00 EDT iHuman rises 19.4% - iHuman is up 19.4%, or $4.36 to $26.80.
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BABA | Hot Stocks09:52 EDT Alibaba, ShipStation launch integration for B2B e-commerce merchants - ShipStation announced that it launched an integration with Alibaba.com. The launch of the integration makes ShipStation the first U.S. shipping solution to officially integrate with Alibaba.com to provide a fulfillment process for U.S. merchants. Orders will sync between the Alibaba.com marketplace and ShipStation to make shipping faster, easier, and more affordable. Key aspects of the partnership include cross-promotional marketing, match-making services, and audience development of the two companies' brands and networks.
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JNJ | Hot Stocks09:51 EDT Johnson & Johnson says 'bullish' on greater than 70% COVID-19 shot efficacy
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RCL | Hot Stocks09:47 EDT Royal Caribbean falls -8.1% - Royal Caribbean is down -8.1%, or -$5.64 to $64.19.
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TX | Hot Stocks09:47 EDT Ternium falls -11.5% - Ternium is down -11.5%, or -$2.27 to $17.55.
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EBS | Hot Stocks09:47 EDT Emergent BioSolutions falls -14.0% - Emergent BioSolutions is down -14.0%, or -$15.58 to $95.89.
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JDST | Hot Stocks09:47 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares rises 5.2% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is up 5.2%, or 50c to $10.20.
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GTES | Hot Stocks09:47 EDT Gates Industrial rises 5.5% - Gates Industrial is up 5.5%, or 66c to $12.63.
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ETH | Hot Stocks09:47 EDT Ethan Allen rises 16.8% - Ethan Allen is up 16.8%, or $2.63 to $18.26.
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TBK | Hot Stocks09:45 EDT Redwood Logistics announces partnership with TriumphPay - Redwood Logistics announced a partnership with TriumphPay. As Redwood's primary payment processor, TriumphPay will handle all carrier payments, allowing carriers to manage their transactions from one central location and making moving freight for Redwood easier than ever.
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MGI | Hot Stocks09:44 EDT MoneyGram reports 161% y/y cross-border transaction growth for MoneyGram Online - MoneyGram International announced another month of digital growth in September. The Company delivered 161% year-over-year cross-border transaction growth for MoneyGram Online, its direct-to-consumer digital business, marking its ninth consecutive month of triple-digit growth. This growth continues to be driven by strong consumer demand for the Company's leading mobile app and a full suite of leading digital capabilities available in over 75 countries. As a result of the pandemic starting to rapidly spread in early 2020, numerous organizations projected annual remittance flows would decline materially. In contrast to these predictions, MoneyGram has reported a sizable uptick in global money transfers, particularly in its direct-to-consumer digital business as a result of the Company's ongoing digital transformation to build the world's best modern, mobile, and API-driven money transfer platform.
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JNJ | Hot Stocks09:43 EDT Johnson & Johnson: Followed ENSEMBLE trial safety guidelines 'to the letter' - Says not unusual for Phase 3 trials to experience "unexplained illnesses." Says currently knows "little" about sick patient in Phase 3 ENSEMBLE trial.
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VRSK F | Hot Stocks09:42 EDT Verisk Analytics, Ford collaborate to offer telematics data to insurers - Verisk (VRSK) announced that Ford Motor Company (F) has joined the Verisk Data Exchange. Owners of eligible Ford and Lincoln vehicles will soon have easy access to usage-based insurance programs from the many U.S. auto insurers that connect to the Exchange-including three of the ten largest U.S. carriers.
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INSU COHN | Hot Stocks09:41 EDT Shift completes merger with Insurance Acquisition Corp. - Shift, and Insurance Acquisition Corp. (INSU), a publicly traded special purpose acquisition company sponsored by Cohen & Company (COHN), have announced the closing of their previously announced business combination. The business combination, which was approved on October 13, 2020, by INSU's stockholders, brings the newest pure-play in the used car ecommerce market to the public markets. The transaction provides Shift with approximately $300 million, net of fees and expenses. Beginning October 14, 2020, Shift's shares of Class A common stock will trade on the Nasdaq under the ticker symbol "SFT" and warrants under ticker symbol "SFTTW." Shift's co-CEOs, George Arison and Toby Russell, will host an investor update call on October 14, 2020 at 8:00am EDT. Shift has built a state-of-the-art automotive ecommerce company powered by its unique technology platform and service model. Leveraging proprietary technology, Shift delivers a comprehensive and seamless process for consumers to buy, sell, trade, finance, and own used cars.
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ENLV | Hot Stocks09:40 EDT Enlivex: Israeli Ministry of Health authorizes initiation of Phase II trial - Enlivex Therapeutics reported that the Israeli Ministry of Health authorized the initiation of a proposed investigator-initiated Phase II clinical trial evaluating AllocetraTM in severe and critical COVID-19 patients. The planned COVID-19 study is a multi-center investigator-initiated, Phase II clinical trial. The trial is expected to recruit up to twenty-four COVID-19 patients in severe or critical condition, and is designed to assess Allocetra in combination with standard of care treatment. The trial plans to evaluate safety, tolerability, cytokine profile and efficacy parameters. Enlivex recently reported positive top-line results of a previously announced Phase Ib investigator-initiated clinical trial of Allocetra in COVID-19 patients in severe and critical condition in Hadassah Hospital, one of the largest hospitals in Israel. Enlivex was scheduled to provide the Israeli Ministry of Health with a full summary of the completed Phase Ib study following a 28-day observational period for each of the five patients treated in that study, which period is scheduled to lapse in late October. However, based on the positive Phase Ib top-line results and the release from the hospital of all patients treated in that study, after having tested negative for COVID-19, the Israeli Ministry of Health requested expedited submission by Enlivex of its COVID-19 Allocetra Phase Ib clinical trial summary prior to the completion of the full 28-day period for the last patient in order to expedite the regulatory review process. The Phase Ib clinical trial included five COVID-19 patients, three in severe condition and two in critical condition. All five patients completely recovered from their respective severe/critical condition and were released from the hospital after an average of 5 day and 9 days, following administration of AllocetraTM, at which time they were all COVID-19 PCR negative. There were no reported severe adverse events relating to the administration of AllocetraTM in the patients, and the therapy was well-tolerated.
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PCSA | Hot Stocks09:38 EDT Processa Pharmaceuticals appoints Michael Floyd as COO - Processa Pharmaceuticals announced the appointment of Michael Floyd as the Company's Chief Operating Officer. Mr. Floyd is a serial entrepreneur who, over the last 15 years, has formed and been a senior executive in several life science organizations focused on the development of products to treat infectious and rare diseases, as well as the development of oncology drugs. He founded the early stage enterprise Neurologic, that in-licensed technology from the NIH for a diagnostic test for Alzheimer's disease.
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NDRA | Hot Stocks09:30 EDT Endra Life Sciences announces issuance of two patents - Endra Life Sciences has been issued international registration certificates, patents, DM/210628 and DM/210629 by the World Intellectual Property Organization, WIPO. These patents are for proprietary designs of ENDRA's Fatty Liver Imaging Probe and protect ENDRA's "Thermoacoustic Imaging Probe" and "Thermoacoustic Imaging Probe With Outdents. "We are committed to protecting our intellectual property in key global markets and are pleased to receive these two new patents as we begin to commercialize our proprietary TAEUS technology in areas of high unmet clinical need, such as Non-Alcoholic Fatty Liver Disease, NAFLD.
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CLSK | Hot Stocks09:27 EDT CleanSpark subsidiary receives contract extension from Lawclerk - CleanSpark announced that its wholly-owned subsidiary p2klabs, or p2k, has received an extension of its professional services contract from LAWCLERK.LEGAL valued in excess of $1M. p2k is a digital design, marketing, and software development agency in addition to internally supporting CleanSpark's software sales, marketing and user experience team.
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MOV | Hot Stocks09:26 EDT Movado and eShopWorld in partnership pact amid COVID-19 - Movado Group and eShopWorld, ESW, announced that they have launched a partnership to provide Movado and MVMT shoppers in markets across the globe with a localized, familiar online shopping experience. ESW simplifies each aspect of the cross-border e-commerce process by removing the challenges brands encounter when trying to sell and ship product internationally. The partnership will help prepare Movado and MVMT to meet early holiday demand due to the effects of COVID-19. "Movado timepieces, with their iconic single dot on the dial, are known worldwide for their innovative design, craftsmanship and quality," said Tommy Kelly, CEO of ESW. "Shoppers know they can expect a luxurious experience at every step of the shopping journey with Movado, and we're excited to partner with the company ahead of the holidays to ensure that the experience is as seamless, simple and familiar as possible for them, wherever they reside."
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JPM | Hot Stocks09:20 EDT JPMorgan sees Q4 trading revenue normalizing amid tough comparisons
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IVZ NDAQ | Hot Stocks09:18 EDT Invesco launches QQQ Innovation Suite in partnership with Nasdaq - Invesco (IVZ) announced the launch of the Invesco QQQ Innovation Suite, which offers investors access to the NASDAQ-100 Index (NDAQ) and NASDAQ Next Generation 100 Index through a variety of investment structures and exposures. The Invesco QQQ Innovation Suite represents the next step in the continued democratization of investing. It advances the growing concept that innovation in investing continues to drive benefits to the end investor, not just through direct cost-savings, but in the personalization of the investment model. The Invesco QQQ Innovation Suite meets all clients' implementation preferences, providing every type of investor a simple way to invest in ingenuity and innovation.
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NEO PPD | Hot Stocks09:18 EDT NeoGenomics to expand global footprint in pharma services - NeoGenomics (NEO) announced plans to open a state-of-the-art research laboratory in China in association with the new lab PPD, (PPD) is opening in Suzhou. Within PPD's 67,000-square-foot (6,224-square-meter) facility, NeoGenomics will maintain a dedicated laboratory and additional shared lab operational space. The NeoGenomics laboratory is expected to support Greater China-focused clinical trials and testing for global and local Chinese pharmaceutical companies.
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AIRG | Hot Stocks09:18 EDT Airgain selected by Getac to provide antennas for rugged devices - Airgain announced that it has been chosen by Getac, a provider of rugged laptops, notebooks and tablets as their strategic antenna partner for rugged devices. Airgain's antenna solutions have been custom designed for Getac's pre-configured rugged devices, optimizing connectivity for data transmission.
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SPT | Hot Stocks09:17 EDT Sprout Social announces integration with Microsoft Dynamics 365 - Sprout Social announced its integration with Microsoft Dynamics 365. This latest integration rounds out a suite of existing Sprout CRM and help desk integrations with HubSpot and Zendesk, to help brands deliver an integrated experience across every interaction.
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DAL | Hot Stocks09:16 EDT Delta CEO says early advanced look for Thanksgiving and Christmas 'encouraging' - Delta Air Lines CEO Ed Bastian says "consumers are feeling really safe with travel" and the airlines' early advanced look for Thanksgiving and Christmas has been "encouraging." Bastian made the comments during an interview on CNBC following the company's release of its earnings report earlier this morning.
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GIGA | Hot Stocks09:16 EDT Giga-tronics adopts shareholder rights plan - The Company announced that its Board of Directors has adopted a Shareholder Rights Plan designed to assure that all shareholders would receive fair treatment in any attempted takeover of the Company. The rights plan provides for the distribution of one preferred share purchase right for each share of common stock outstanding on the record date of October 22, 2020. The rights will not prevent a takeover, but are designed to encourage anyone seeking to acquire the Company to negotiate with the Board of Directors prior to attempting a takeover. The rights plan provides that in the event any person becomes the beneficial owner of 15% or more of the outstanding common shares, each right will be exercisable, on and after the close of business on the tenth business day following such event, for the purchase of a number of Giga-tronics common shares equal to the exercise price divided by 25% of the then current fair market value of the common stock. The rights plan further provides that if, on or after the occurrence of such event, the Company is merged into any other corporation or 50% or more of the Company's assets or earning power are sold, each right will be exercisable to purchase a similar number of securities of the acquiring corporation. The rights expire on October 22, 2025, and are subject to redemption by the Board of Directors at $.001 per right at any time prior to the first date upon which they become exercisable to purchase common shares.
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AMC | Hot Stocks09:15 EDT AMC says cash will be largely depleted by end of 2020, early 2021 - AMC Entertainment disclosed this morning that "given the reduced movie slate for the fourth quarter, in the absence of significant increases in attendance from current levels or incremental sources of liquidity, at the existing cash burn rate, the Company anticipates that existing cash resources would be largely depleted by the end of 2020 or early 2021. Thereafter, to meet its obligations as they become due, the Company will require additional sources of liquidity or increases in attendance levels. The required amounts of additional liquidity are expected to be material." AMC continues to explore potential sources of additional liquidity, including additional debt and equity financing, further renegotiations with landlords regarding its lease payments, potential asset sales, joint-venture or other arrangements with existing business partners, and minority investments in capital stock. "There is a significant risk that these potential sources of liquidity will not be realized or that they will be insufficient to generate the material amounts of additional liquidity that would be required until the Company is able to achieve more normalized levels of operating revenues,: AMC said in a regulatory filing. "It is very difficult to estimate our liquidity requirements and future cash burn rates, and depending on the assumptions used regarding the timing and ability to achieve more normalized levels of operating revenue, the estimates of amounts of required liquidity vary significantly," it added. AMC shares are down 15c to $3.93 in premarket trading.
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AVAV | Hot Stocks09:15 EDT AeroVironment secures $8.4M DoD contract for Puma AE tactical training - AeroVironment announced it secured a $8,371,332 firm-fixed-price U.S. Department of Defense FMS contract award on September 25, 2020 for Puma 3 AE tactical UAS, training and support to an allied nation. Delivery is anticipated by March 2021. The United States Department of Defense and the defense forces of 50 allied nations around the world rely on AeroVironment's family of tactical unmanned aircraft systems to protect and empower frontline troops in the harshest operating environments," said Rick Pedigo, vice president of sales and business development at AeroVironment. "With an unmatched track record for reliability and effectiveness in combat, training and humanitarian operations, and a roadmap of continuous enhancement and innovation into the future, customers can rely on AeroVironment to proceed with certainty into any operational scenario."
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JNJ | Hot Stocks09:13 EDT Johnson & Johnson says planning for 'above market growth' in 2021
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GIGA BA | Hot Stocks09:13 EDT Giga-tronics receives orders totaling $4.96M from Boeing - Giga-tronics Incorporated (GIGA) announced that it has received orders from Boeing (BA) totaling $4.96M for custom microwave filters for the F-15 aircraft.
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OSK | Hot Stocks09:13 EDT Oshkosh awarded contract for 322 VLV for Belgium Defence Forces - Oshkosh announced that the Belgium Ministry of Defence has awarded Oshkosh Defense a contract for 322 Oshkosh Defense Command and Liaison Vehicles, or CLV, for the Belgium Defence Forces. The Belgian CLV is the proven Joint Light Tactical Vehicle, or JLTV, platform from Oshkosh equipped with Belgian communication systems. The JLTV is currently used by the U.S. military.
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JPM | Hot Stocks09:13 EDT JPMorgan won't invest just to protect NII
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AMC | Hot Stocks09:11 EDT AMC says competitor closings may exacerbate reduced film openings - AMC Entertainment said this morning in a regulatory filing: "Major movie releases that were previously scheduled to be released in the fourth quarter have either been rescheduled for 2021 or slated for direct to streaming in lieu of a theatrical release, leaving a reduced slate of movie releases for the remainder of the year, and release dates may continue to move. Certain competitors have decided to temporarily reclose their theatres in light of the ongoing pandemic and the reduced slate of movie releases, which may further exacerbate the trend described above. In response to the current low attendance levels, the Company has made adjustments to theatre operating hours to align screen availability and associated theatre operating costs with attendance levels for each theatre."
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TTEK | Hot Stocks09:11 EDT Tetra Tech wins $24M USAID water resources management contract - Tetra Tech announced that the U.S. Agency for International Development, USAID, awarded the Company a five-year, $24M single award contract to strengthen regional capacity to manage shared water resources and mitigate environmental risks in Central Asia. The USAID Regional Water and Vulnerable Environment Activity contract is intended to promote economic stability and healthy ecosystems through implementation of sustainable management practices for two major Central Asian river basins. Tetra Tech will provide technical assistance to resolve complex transboundary water issues by developing evidence-based water resources technology solutions that optimize regional water, energy, and agricultural systems across target areas. Tetra Tech's analysts and consultants will design and implement a robust decision-support process that employs integrated water-energy-food systems modeling and advanced data analytics to improve understanding of the risks, vulnerabilities, costs, and benefits associated with different development pathways in these river basins. These analytical results will form the basis for agreement on specific actions to improve regional water cooperation.
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T | Hot Stocks09:11 EDT AT&T receives $1.1B in cash from CME acquisition - Czech investment firm PPF Group completed its acquisition of Central European Media Enterprises, or CME. With the transaction closed, AT&T, which was the largest shareholder in CME, received $1.1B in cash and no longer backstops approximately $575M in CME debt. AT&T acquired its stake in CME with the acquisition of Time Warner, now WarnerMedia, in 2018. The company said the sale is consistent with AT&T's ongoing efforts to monetize non-core assets to drive incremental shareholder value. The company plans to continue to focus on lowering its net debt.
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AMC | Hot Stocks09:10 EDT AMC same-theatre attendance down 85% vs. last year - AMC Entertainment disclosed this morning that as of October 9, it had resumed operations at 494 of its 598 U.S. theatres, with limited seating capacities of between 20% and 40%, representing approximately 83% of the U.S. theatres and 77% of 2019 U.S. same-theatre revenue. Since the resumption of operations in its U.S. markets, the company has served more than 2.2M guests as of October 9, representing a same-theatre attendance decline of approximately 85% compared to the same period a year ago. The remaining 17% of the U.S. theatres left to reopen are primarily located in California, Maryland, New York, North Carolina, and Washington State, and include some of the company's most productive theatres, representing approximately 23% of 2019 U.S. revenue, AMC said in a regulatory filing. Twenty-five theatres in North Carolina and Washington State are scheduled to reopen on October 16. "The Company has an active dialogue with local and state government officials in the remaining states, however, there is limited visibility around the timing for resumption of theatre operations in these locales," it added.
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AIH | Hot Stocks09:09 EDT Aesthetic Medical announces $6M share repurchase program - Aesthetic Medical International Holdings announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to $6M worth of its American depositary shares over the next 12-month period, effective until October 12, 2021, pursuant and subject to applicable laws and the Company's securities trading policy. All factors, including, but not limited to, trading price, trading volume and general market conditions, along with the Company's working capital requirements and general business conditions shall be taken into account when determining the timing, volume and conditions of the share repurchases under the share repurchase program.
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JPM | Hot Stocks09:09 EDT JPMorgan can buy back stock and still be conservatively reserved, Dimon says
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JPM | Hot Stocks09:08 EDT Dimon hopes JPMorgan can buy back stock before stock goes higher
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BEEM EVSI | Hot Stocks09:08 EDT Beam Global adds Georgia Power Company as utility customer - Beam Global announced the deployment of the EV ARC 2020 charging unit for Georgia Power at the 23rd Annual Motul Petit Le Mans event at the Michelin Raceway Road Atlanta. The unit will be on public display for the race event October 14-17, 2020 before being transported to the Atlanta Technical College where it will be available for free public charging.
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CMTL | Hot Stocks09:07 EDT Comtech unit gets additional $5.9M on U.S. Army contract - Comtech Telecommunication announced that its Mission-Critical Technologies group, which is part of Comtech's Government Solutions segment, received additional funding of $5.9M on its previously announced contract to provide the U.S. Army with global field support services for military satellite communication , SATCOM, terminals around the world. The contract has been funded $41.1M to date. "Comtech is honored to support our warfighters with high quality and responsive field support services around the world," said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp.
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RGLD | Hot Stocks09:06 EDT Royal Gold subsidiary sold 56,000 gold equivalent ounces in Q1 - Royal Gold announced that its wholly owned subsidiary, RGLD Gold AG, sold approximately 56,000 gold equivalent ounces, or GEOs, comprised of approximately 44,000 gold ounces, 474,000 silver ounces and 1,800 tons of copper related to its streaming agreements during Q1. First quarter stream sales were in line with the previous guidance range of 53,000 to 58,000 GEOs. The company had approximately 36,000 GEOs in inventory at the end of the first quarter consisting of 26,000 gold ounces, 461,000 silver ounces and 1,100 tons of copper. Inventory at the end of Q1 was higher than the previous guidance range of 25,000 to 30,000 GEOs primarily due to timing of deliveries. RGLD Gold AG's average realized gold, silver and copper prices for the first quarter were $1,897 per ounce, $22.97 per ounce, and $6,494 per ton, respectively, compared to $1,686, $15.77, and $5,235 respectively, in the prior quarter ended June 30. Cost of sales was approximately $389 per GEO for Q1 using the quarterly average silver-gold ratio of approximately 79 to 1 and copper-gold ratio of approximately 0.29 tons per ounce, compared to cost of sales of $406 per GEO in Q4. Cost of sales is specific to our streaming agreements and is the result of the company's purchase of gold, silver or copper for cash payments at a set contractual price, or a percentage of the prevailing market price of gold, silver or copper when purchased.
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SVMK | Hot Stocks09:06 EDT SurveyMonkey launches GetFeedback platform - SurveyMonkey launched its new customer experience solution, the GetFeedback platform. Announced at SurveyMonkey's inaugural customer experience event, the CX Impact Summit, the multi-channel offering is an easy-to-deploy, cost-efficient CX solution that helps organizations set up their CX program within days-not months-to quickly understand and act on customer insights. This agile approach to customer experience allows organizations to deliver meaningful experiences that increase customer satisfaction and loyalty. With the GetFeedback platform, companies will spend less time configuring complicated CX technology and more time focusing on what matters most: nurturing customer relationships.
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ANAB | Hot Stocks09:05 EDT AnaptysBio reports topline data from GALLOP Phase 2 trial of imsidolimab - AnaptysBio announced topline data from an interim analysis of its Phase 2 clinical trial of imsidolimab for the treatment of moderate-to-severe generalized pustular psoriasis, also known as the GALLOP trial. GPP is a chronic, life-threatening, rare inflammatory disease with no approved therapies. Key data available to date from the 8 patients enrolled in the GALLOP trial are as follows: Mean baseline value on the modified Japanese Dermatology Association severity index total score was 9, body surface area covered by erythema and pustules was 24% and the serum C-reactive protein was 56 mg/L. Patients were on average 51 years of age, 50% female and diagnosed with GPP for 4.3 years. Six of 8 patients treated with imsidolimab monotherapy achieved the primary endpoint of improvement in the CGI scale on Day 29. Two of 8 patients were considered to have not met the primary endpoint because they dropped out of the trial prior to Day 29. mJDA-SI score, which incorporates both dermatological and systemic aspects of GPP, decreased on average by 29% on Day 8 and 54% on Day 29. Erythema with skin pustules, which clinically defines GPP, decreased by 60% on Day 8 and 94% on Day 29. Serum CRP, which is an indicator of systemic inflammation, was normal for 5 of the 6 patients achieving the primary endpoint on Day 29. Genotypic testing indicated homozygous wild-type IL-36RN, CARD14 and AP1S3 alleles for all 8 patients. We believe this suggests that imsidolimab is broadly applicable to pustular diseases irrespective of genetic drivers. Anti-drug antibodies were not detected as of Day 29 in any patient. Imsidolimab was generally well-tolerated and most treatment-emergent adverse events were mild to moderate in severity and resolved without sequelae. No infusion or injection site reactions were observed. One patient dropped out of the trial due to a diagnosis of Staphylococcal aureus bacteremia in the first week, which was a serious adverse event deemed to be possibly drug-related. Because the patient was symptomatic prior to dosing and had a prior medical history of bacteremia, a common comorbidity of GPP, the Company does not believe this event is likely attributable to imsidolimab. Another patient dropped out of the study on Day 22 due to investigator reported inadequate efficacy. One patient contracted COVID-19 during the course of the trial, which was mild, unrelated to imsidolimab, and did not lead to study discontinuation. An end-of-Phase 2 meeting, based upon data available from the 8 patients enrolled in the GALLOP trial, is anticipated in Q4 2020. In July 2020, the FDA granted orphan drug designation to imsidolimab for the treatment of GPP based upon GALLOP clinical data. The Company plans to report full data from the GALLOP trial at a medical conference in 2021.
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LCTX | Hot Stocks09:04 EDT Lineage Cell Therapeutics announces preliminary results from study of VAC2 - Lineage Cell Therapeutics announced "encouraging preliminary results from an ongoing Phase 1 clinical study of VAC2 in non-small cell lung cancer,NSCLC. VAC2 demonstrated remarkably potent induction of immune responses in all patients dosed to date, with high levels of peripheral antigen-specific immunogenicity observed at multiple time points and confirmed by multimer staining. On the basis of these findings, and following completion of the ongoing VAC2 clinical study in NSCLC, Lineage will seek to evaluate VAC2 in combination with therapies considered biologically complementary to VAC2, such as chemotherapy and the immune cell protectant properties offered by anti-PD1 immunotherapy., " noted the company. Based on review of all available data, the therapy was safe and well tolerated in all patients. While the safety profile was expected, the immunogenicity data are remarkable and highly provocative," stated Christian Ottensmeier, MD, PhD, FRCP, Professor of Experimental Medicine at the University of Southampton and Chief Investigator on the VAC2 clinical study. "Antigen-reactive pentamer staining data induced by VAC2 suggest that the vaccine is highly potent, inducing significantly higher levels of antigen-specific T cells, compared with that invoked by alternative vaccine approaches, such as DNA- and RNA-based vaccines. From my perspective as an immuno-oncologist these data support rapid phase II testing, focused on clinical benefit."
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MYT | Hot Stocks09:04 EDT Urban Tea's Crop Circle announces 25% sales growth from August to October - Urban Tea announced that CROP CIRCLE, its casual street food restaurant in New York City, has witnessed a 25% monthly growth in sales from August to October. As previously announced, Urban Tea now owns the registered trademark of "CROP CIRCLE" in the U.S. The Company operates the Crop Circle restaurant in Greenwich Village near Washington Square Park, which features "guokui," a flatbread baked in a clay oven with various choices of flavorful fillings such as shrimp, beef, pork, chicken, preserved vegetables and brown sugar, a popular street snack originating from northern China's Shanxi province. The Company also owns the trademark "MENO" and operates MENO, a modern tea and coffee shop with a small curated food menu.
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EXPI | Hot Stocks09:03 EDT eXp World Holdings expands residential real estate network to sSouth Africa - eXp World Holdings announced the expansion of its brokerage model into South Africa under the eXp South Africa banner. The addition of residential and commercial brokerage operations in South Africa represents the fourth international expansion for the U.S.-headquartered company. In addition to its robust U.S. presence, eXp Realty also operates in Canada, the United Kingdom and Australia, with more than 35,000 agents in its global network.
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JNJ | Hot Stocks09:03 EDT Johnson & Johnson says dividend remains 'a top priority'
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PHX | Hot Stocks09:02 EDT Panhandle Oil & Gas changed name to PHX Minerals - Panhandle announced that it has officially changed its name to PHX Minerals effective October 8. In conjunction with its name change the Company has also unveiled a new logo. The Company's ticker will remain "PHX" on the NYSE.
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JPM | Hot Stocks09:02 EDT JPMorgan's Dimon: 'Fiscal stimulus is by its nature inflationary'
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EARS | Hot Stocks09:01 EDT Auris Medical initiates Part B of TRAVERS Phase 2 study of AM-125 - Auris Medical Holding announced that the first patient has been randomized in Part B of its "TRAVERS" Phase 2 trial of AM-125 in acute vertigo. This follows the positive read-out from the interim analysis on Part A of the study in early September 2020, the completion of enrollment into the oral treatment group, and the receipt of regulatory clearance for Part B in the first three of the participating study countries. In Part B of the TRAVERS trial, the Company will enroll 72 patients who suffer from acute vertigo following neurosurgery. They will be randomized to receive either 10 or 20 mg of intranasal betahistine or a placebo three times daily for four weeks. The improvement in the "Standing on Foam" test from baseline to Day 14 will be the primary efficacy endpoint; the improvement in the "Tandem Romberg" test to Day 42 will be the key secondary efficacy endpoint. The two tests measure how long patients are able to maintain balance on a foam mat or with the two feet aligned one after the other, respectively, while they have their eyes closed. As the Company remained blinded to treatment allocation during the interim analysis, the corresponding data from Part A will be pooled with those from Part B. The Company expects to complete enrollment into Part B of the TRAVERS trial by the end of the first quarter 2021, provided that the Covid-19 pandemic does not cause further restrictions on patient enrollment.
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JPM | Hot Stocks08:58 EDT JPMorgan CEO: Many won't survive another year of total lockdown - Dimon says an intelligent return to work important for cities, travel.
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JPM | Hot Stocks08:57 EDT JPMorgan: Reserves prepared for 'relative adverse case'
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JNJ | Hot Stocks08:57 EDT Johnson & Johnson says 'on track' to provide 1B doses of COVID-19 vaccine
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DAL | Hot Stocks08:55 EDT Delta Air Lines down 4% to $31.40 after Q3 adjusted results miss estimates
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TUP | Hot Stocks08:54 EDT Tupperware Brands promotes Cassandra Harris to CFO, COO of company - On October 9, Tupperware Brands promoted Cassandra E. Harris to Chief Financial Officer and Chief Operating Officer of the Company, effective October 12.
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ONDK | Hot Stocks08:53 EDT On Deck Capital trading halted, news dissemination
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JNJ | Hot Stocks08:53 EDT Johnson & Johnson says e-commerce driving growth across most brands - Says OTC business "growing above the market." Seeing improved medical device sales. Comments taken from Q3 earnings conference call.
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JPM | Hot Stocks08:53 EDT JPMorgan doesn't see much higher chargeoffs until 2H21
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JPM | Hot Stocks08:52 EDT JPMorgan sees FY21 net interest income $53B
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MOTS | Hot Stocks08:52 EDT Motus GI Holdings hosting KOL call on improving endoscopy outcomes - Motus GI Holdings announced that it will host a key opinion leader call on improving inpatient endoscopy outcomes with the Pure-Vu system on Friday, October 16, 2020. The webinar will feature a presentation by KOL Seth Gross, MD, NYU Langone, who will discuss: The unmet needs and challenges associated inpatient colonoscopy; The benefits to patients in reducing time in the hospital, especially during the COVID-19 pandemic; Mitigating increasing costs to hospitals due to delayed / incomplete procedures Dr. Gross will be available to answer questions following the formal presentation. Motus GI's management team will also provide an update on the Pure-Vu System, a U.S. FDA cleared medical device indicated to help facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The device integrates with standard and slim colonoscopes to enable safe and rapid cleansing during the procedure while preserving established procedural workflow and techniques. Within the last year, the Company initiated its commercial launch of the Pure-Vu System in the U.S. with an initial focus on inpatient colonoscopy. The system is currently in more than 20 major U.S. hospitals, including NYU Langone Medical Center, Cleveland Clinic, UC-Irvine Health, UCLA Health, University of Texas, Memorial Hermann and Geisinger Medical Center.
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LAUR | Hot Stocks08:51 EDT Laureate Education begins asset sale offer to buy up to $300M of senior notes - Laureate Education announced that it is commencing a cash tender offer to purchase up to $300M aggregate principal amount of its 8.250% Senior Notes due 2025, at a purchase price of 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date. The Asset Sale Offer is being made pursuant to the indenture governing the Notes as a result of the Company's sale of its operations in Chile and Malaysia. Those sales constituted "Asset Sales" under the Indenture. The source of funds is cash on hand from the proceeds of the Asset Sales. The Asset Sale Offer will expire at 11:59 p.m., New York City time, on November 10, 2020, unless extended by the Company, in its sole discretion. If the aggregate principal amount of Notes validly tendered in the Asset Sale Offer exceeds the Offer Amount, only the Offer Amount will be accepted for purchase, and the Notes will be purchased on a pro rata basis. Tenders of the Notes must be made on or prior to the Expiration Time and may be validly withdrawn at any time on or prior to the Expiration Time. In the event that the aggregate principal amount of tendered and accepted Notes is less than the Offer Amount, any amount less than the Offer Amount not used for the purchase of Notes pursuant to the Asset Sale Offer will be available for use in any manner permitted under the Indenture.
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JPM | Hot Stocks08:51 EDT JPMorgan sees 2021 NII 'under pressure' vs. 2020
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XELA | Hot Stocks08:49 EDT Exela Technologies receives Nasdaq listing extension - Exela Technologies announced that the Nasdaq Hearings Panel granted Exela's request for an extension to evidence compliance with the $1.00 bid price requirement for continued listing on The Nasdaq Capital Market. In order to evidence compliance with the Rule, the Company must have a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days by February 8, 2021. As previously disclosed, Exela received notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC indicating that the Company no longer satisfied the Rule and was therefore subject to delisting. In response, the Company timely requested a hearing before the Panel, which request stayed any further action by the Staff. The hearing was held on September 24, 2020, and the Panel issued its decision on October 9, 2020.
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JPM | Hot Stocks08:49 EDT JPMorgan branch expansion continuing
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JPM | Hot Stocks08:48 EDT JPMorgan not planning to host investor day in 2021
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AGEN | Hot Stocks08:47 EDT Agenus appoints Susan Hirsch to board of directors - Agenus announced the election of Ms. Susan Hirsch to Agenus' Board of Directors. Susan has over 40 years of experience in investment management and finance, including her most recent position as a Managing Director at Nuveen, a TIAA company, where she was responsible for Nuveen's TIAA-CREF Large-Cap Growth Fund with $6.6B in assets.
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JPM | Hot Stocks08:47 EDT JPMorgan sees 2021 NII 'under pressure' vs. 2021
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BTTR | Hot Stocks08:47 EDT Better Choice closes expanded Sereis F financing, accelerates Asian expansion - Better Choice Company announced the closing of an additional $1.1M of Series F financing, bringing the total amount raised to $18.9M. As part of this financing, Management and Board members funded in excess of $11.3M. "In addition to further strengthening our balance sheet, this additional capital allows us to quickly accelerate growth in Asia, specifically China," said Michael Young, Chairman of the Board. BTTR plans to allocate a portion of recent proceeds from our Series F financing to improve our online and physical sales presence in Asia, including an expansion of our internal team, building of inventory and targeted marketing spend. Our 2Q20 gross revenue in Asia was ~$2.4M, which represents a ~16% increase over 1Q20. With this type of exponential growth, we see a tremendous first-mover advantage in Asia and are excited about making this a very meaningful contributor to revenue in the near-term. Our international operations, sold through domestic distribution networks, account for approximately 20% of net sales through the first half of 2020. We could see this reach 40% or more as the market continues to mature."
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JPM | Hot Stocks08:46 EDT JPMorgan preparing for 'broad' range of outcomes, CFO says - Comment taken from Q3 earnings conference call.
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GNSS | Hot Stocks08:45 EDT Genasys announces FY U.S. law enforcement sales of $1.3M - Genasys announced record fiscal year U.S. law enforcement sales of $1.3M, up 30% over fiscal year 2019. This is the Company's second consecutive fiscal year of record domestic law enforcement sales. "More and more agencies are realizing LRAD's versatility for multiple public safety applications," said CEO Richard Danforth. "By clearly communicating alerts, warnings and instructions, LRAD is helping resolve uncertain situations and enhancing safety for both the public and law enforcement."
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MARA | Hot Stocks08:44 EDT Marathon Patent Group, Beowulf Energy form JV for bitcoin mining data center - Marathon Patent Group announced the formation of a new joint venture with Beowulf Energy focused on delivering low cost power to Marathon's Bitcoin mining operations. In connection with the joint venture, Marathon has entered into agreements with Beowulf to co-locate its Bitcoin Mining Data Center at the Big Horn Data Hub, which comprises 20 acres of land adjacent to Beowulf's Hardin Generating Station, a 105 MW power facility located in Hardin, Montana. Beowulf will provide power from the Hardin plant to the Data Center at a production cost of $0.028/kWh. Beowulf will also become an equity shareholder of Marathon as a result of the joint venture. Marathon will retain 100% of the Bitcoin mining output generated at the Data Center. Marathon will deploy the 11,500 next generation S19 Pro Antminers it previously acquired through its partnership with Bitmain Inc. at the Data Center. These miners will generate 1.265 EH/s when fully deployed, with full deployment anticipated through Q2 2021. Currently, 500 of the S19 Pro Antminers have been delivered and deployed at the Data Center. The Data Center has the capacity to deploy up to 30,000 S19 Pro Miners that will generate 3.320 EH/s, providing Marathon with substantial opportunity for future expansion. The Data Center will lower Marathon's aggregate mining cost for electricity and data center management to $0.034/kWh, which is 38% below the Company's current cost of mining. This low-cost electricity reduces Marathon's breakeven costs to produce Bitcoin from approximately $7,500 per Bitcoin today to $4,600 per Bitcoin, dramatically improving the Company's future profitability.
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DAL | Hot Stocks08:43 EDT Delta Air Lines sees $150M-$250M in Q4 cash payments from separation programs - The company offered voluntary separation and early retirement programs to employees during the September quarter. Approximately 18,000 employees participated in the programs, with most leaving the company August 1, resulting in a $3.1B restructuring charge in the September quarter, which is reflected in "Restructuring charges" on the Consolidated Statement of Operations. Cash payments in connection with these programs totaled $813M in the September quarter, and these payments are excluded from daily cash burn figures. The company anticipates an additional $150M-$250M in cash payments in the December quarter, $600M in 2021 and the remaining payments in 2022 and beyond.
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MDGS | Hot Stocks08:42 EDT Medigus: Smart Repair Pro gains Amazon's approval for launch in five countries - Medigus announced that it was informed by Smart Repair Pro that all of Amazon's required regulatory processes were completed, which allows for the opening of its store in five countries: UK, France, Italy, Germany and Spain. Following Amazon's approval, Smart Repair Pro is preparing to launch its brands for the first time in the European and UK market. Medigus last week announced its entry into e-commerce business by signing a definitive agreement to acquire a controlling interest in Smart Repair Pro, Inc. and Purex, Inc.. According to the agreement, Medigus will hold 50.01% of the issued and outstanding share capital of each of the companies. The closing of the transactions contemplated in the definitive agreements are subject to customary closing conditions.
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MEDS | Hot Stocks08:41 EDT Trxade Group's Bonum Health, SingleCare enter prescription savings partnership - Trxade Group announced that its Bonum Health subsidiary has partnered with SingleCare to enhance Bonum's enterprise telehealth solutions with prescription discounts powered by SingleCare. The enterprise service will be offered to national, regional and local pharmacies to promote the benefit to uninsured patients and underserved communities. The increasing cost of healthcare has been exacerbated by the economic pressures of COVID-19, especially for the millions of recently unemployed across America. Bonum Health enables convenient access to affordable care with its clinical technology platform and telehealth solutions that offer virtual medical and provider services at deeply discounted rates. Through these telehealth solutions, an entire household can receive a virtual consultation by board-certified medical doctors, anywhere, at any time. SingleCare is a free prescription savings service that is providing millions of consumers across America with consistently low prices to improve access and adherence to medication. SingleCare is able to save customers up to 80% on their prescriptions.
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DAL EADSY | Hot Stocks08:40 EDT Delta Air Lines to reduce aircraft purchases by more than $5B through 2022 - Delta (DAL) is restructuring its Airbus (EADSY) and CRJ aircraft order books to better match the timing of aircraft deliveries with network and financial needs over the next several years. The restructuring reduces aircraft purchase commitments by more than $2B in 2020 and by more than $5B through 2022. Accelerating its fleet simplification strategy, which is intended to modernize and streamline the company's fleet, enhance the customer experience and generate cost savings. The company has announced plans to accelerate retirements of nearly 400 aircraft by 2025, including more than 200 in 2020.
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PFPT MSFT | Hot Stocks08:40 EDT Proofpoint announces Content Capture for Microsoft Teams - -Proofpoint (PFPT) announced Content Capture for Microsoft (MSFT) Teams, the latest compliance solution designed for global regulated organizations. With many or most employees suddenly working from home, regulated organizations - more than ever - need to find an effective way for employees to communicate while ensuring digital communications compliance. Firms must capture, retain, and review employee communications to adhere to rules set forth by regulators. It is also critical for firms to be at-the-ready when it comes to search and review of legal matters, particularly in early case assessments or investigations. This is why Proofpoint is committed to innovating in close partnership with productivity and collaboration vendors. Proofpoint provides the following benefits for Teams capture: Capture messages and content in native format, including text, images, and more; Preserve the original context of messages and content at point of capture and in transport; Record edits and deletions of captured content; Ensure what you've captured is stored with complete accuracy.
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JAGX | Hot Stocks08:38 EDT Jaguar Health closes on first $6M tranche of royalty financing pact - Jaguar has closed on the first $6M tranche of the previously announced non-dilutive royalty financing transaction - which now has the potential to total $17M .Jaguar and its Subsidiary, Napo Pharmaceuticals, Enter into Fourth Amendment to the Accounts Receivable Purchase Agreement with Oasis Capital, LLC, Dated May 12.
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WDDMF | Hot Stocks08:38 EDT WeedMD announces Cannabis 2.0 supply partnership with Pax Labs - WeedMD announced it has entered into a supply agreement with Pax Labs. WeedMD will become a brand partner and supplier for the PAX ERA Collection in Canada, which includes the closed-loop PAX ERA and ERA PRO devices. WeedMD's partnership with PAX will accelerate the growth of the Company's Cannabis 2.0 product strategy as it expands into new formats using its low-cost, quality-produced, strain-specific biomass. As the latest cultivator to launch PAX Era Pods in Canada, WeedMD will produce cannabis oil pods for the 'pen-and-pod' vaporizer devices at the Company's state-of-the-art extraction hub in Aylmer, Ontario. WeedMD will sell Color Cannabis, and Starseed Medicinal-branded oil pods nationwide through supply arrangements with retailers, and its online medical store.
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DAL | Hot Stocks08:37 EDT Delta Air Lines CEO: Seeing a path of progressive improvement in our revenues - "While our September quarter results demonstrate the magnitude of the pandemic on our business, we have been encouraged as more customers travel and we are seeing a path of progressive improvement in our revenues, financial results and daily cash burn," said Ed Bastian, Delta's CEO. "The actions we are taking now to take care of our people, simplify our fleet, improve the customer experience, and strengthen our brand will allow Delta to accelerate into a post-COVID recovery."
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VITFF | Hot Stocks08:37 EDT Victoria Gold reports Q3 2020 gold production of 35,321 ounces - Victoria Gold announces third quarter 2020 gold production of 35,312 ounces and gold revenue of C$80M at an average realized price of US$1,886 per ounce of gold. Mr. John McConnell, President and CEO commented, "This has been another strong quarter for operations at Eagle particularly given the increased challenges of ramping up a new mine during the unprecedented conditions related to COVID-19. There were no Lost Time Incidents during the quarter and we have achieved a very impressive 2.7 million hours LTI free. Effective health protection measures put in place have safeguarded employees and local residents and enabled mine operations to continue, with no suspected or confirmed cases of COVID-19 at site. Our first quarter of Commercial Production included record tonnes mined including ore and waste, tonnes stacked on the heap leach pad and gold production and sales. We are in the late stages of operational ramp-up and the team has done a commendable job in identifying and rectifying the few remaining bottlenecks. This will place us in a good position to continue to increase production in Q4 2020 and into 2021."
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FRSX | Hot Stocks08:36 EDT Foresight Autonomous affiliate receives $10M investment from Knorr-Bremse - Foresight Autonomous announced that its affiliate, Rail Vision and Knorr-Bremse Systeme fur Schienenfahrzeuge, an affiliate of Knorr-Bremse, executed an agreement whereby Knorr-Bremse will make a new investment of $10M in Rail Vision. Knorr-Bremse originally invested $10M in Rail Vision, as reported by the company on March 14, 2019. Following the additional investment, Knorr-Bremse will own a total of 36.79% of Rail Vision's outstanding share capital. Additionally, Rail Vision has received a call option, available under certain conditions which should be met, to call for an additional $5M under the same investment terms. The current investment reflects Rail Vision's post money valuation of approximately $50M.. Foresight's initial investment in Rail Vision, in August 2016, reflected a $4.4M post money valuation, marking a 1,130% increase. As a result of the investment, Foresight's holdings in Rail Vision will amount to 19.34%.
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WIT | Hot Stocks08:36 EDT Wipro board approves share buyback of up to $1.3B
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NEM | Hot Stocks08:35 EDT Gold Bull to acquire Sandman Project from Newmont for $4M - Gold Bull Resources is pleased to announce it has executed a Purchase and Sales Agreement to acquire 100% of the Sandman Gold Project from Newmont for $4M in cash. HIGHLIGHTS: Proven gold mineralization comprising a total Resource of 309,900 oz Au; Located on renowned gold trend in #1 Mining Jurisdiction in the World; Extensive & consolidated land package; Expansion potential with significant drilling and exploration conducted post-resource estimate & massive gaps in exploration under cover; Permits In-Hand from BLM and NDEP across land package in mining friendly jurisdiction with no known environmental sensitives . Sandman is located in Townships 36 and 37 North, Ranges 35 and 36 East, Mount Diablo Meridian, Humboldt County, Nevada, USA. The property is situated south of the Slumbering Hills and west of the Tenmile Hills, circa 24 km northwest of the town of Winnemucca, Nevada. The property lies 23 km south of the successful Sleeper gold mine1 which historically produced 1.7M oz Au with M&I Resources in excess of ~3M oz Au2 . Sandman is accessed by driving west from the town of Winnemucca on Jungo Road for 15 km, and then an additional eight km to the north on dirt roads that lie largely within the property boundaries. The Sandman property is located on checkerboard mix of public and private lands. The project consists of 445 unpatented lode mining claims and ~6 km2 of surface ownership. The existing net smelter return production royalty obligations will transfer from Newmont to Gold Bull. Significant gold mineralization at Sandman has been identified at the Southeast Pediment, Silica Ridge, North Hill, and Abel Knoll deposits for which NI 43-101 mineral resources have been estimated. On 12 October 2020, Gold Bull, via its 100% owned Nevadan subsidiary, Sandman Resources Inc., executed a Purchase and Sales Agreement with Newmont USA and Fronteer Development LLC to purchase 100% of the Sandman Project, located in Humboldt County, circa 23km from the town Winnemucca, Nevada. Gold Bull will pay Newmont four million dollarsfor 100% interest in the Sandman Project, to be paid within forty five days. Upon payment, Gold Bull will assume ownership of Sandman. The acquisition includes all mineral rights, transferable permits, data and drill core relating to the project. Existing royalty obligations transfer with the project. Closing of the acquisition is subject to Gold Bull's routine filing requirements with the TSX Venture Exchange and subject to financing.
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O JLL | Hot Stocks08:35 EDT Realty Income appoints Christie Kelly as CFO - Realty Income (O) announced that Christie Kelly will become Executive Vice President, CFO and Treasurer. Kelly joined the company's Board of Directors in November 2019 and currently serves as a member of the Audit Committee. The appointment of Kelly to CFO will take effect January 19, 2021, at which time Ms. Kelly will resign from the company's Board of Directors. Kelly is the former Global CFO of Jones Lang LaSalle (JLL). She worked with JLL from 2013 - 2018, bringing with her 25 years of experience in financial management, international real estate, mergers and acquisitions, information technology and investment banking.
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DAL | Hot Stocks08:35 EDT Delta Air Lines reports Q3 daily cash burn averaged $24M - Delta ended the September quarter with $21.6 billion in liquidity. Cash used in operations during the quarter was $2.6 billion. Daily cash burn averaged $24 million for the quarter, with an average of $18 million for the month of September. At the end of the September quarter, the company had total debt and finance lease obligations of $34.9 billion with adjusted net debt of $17.0 billion, $6.5 billion higher than December 31, 2019. In September, Delta completed the largest debt offering in aviation history, raising $9.0 billion at a blended average rate of 4.75 percent secured by its SkyMiles loyalty program. In addition, the company borrowed $1.5 billion at a blended yield of 4.4 percent in connection with the issuance of tax-exempt bonds, that will be used to finance the LaGuardia airport project. The company's total debt had a weighted average interest rate of 4.3 percent at September 30, 2020. Subsequent to the end of the quarter, the company repaid the $3 billion, 364-day term loan that it entered into in March, increasing its unencumbered asset base to $9 to $10 billion of aircraft, engines and spare parts and reducing remaining debt amortization and maturities to $2.3 billion through the end of 2021. The company also repaid $2.6 billion under its revolving credit facilities drawn down in March 2020. At the end of the September quarter, the company's Air Traffic Liability stood at $4.6 billion, including a current liability of $4.4 billion and a non-current liability of $0.2 billion. The non-current liability represents the current estimate of tickets to be flown, as well as credits to be used, beyond one year. Travel credits represent approximately 60 percent of the Air Traffic Liability at the end of the September quarter.
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CERS | Hot Stocks08:34 EDT Cerus awarded five-year contract with FDA with a value of $11.1M - Cerus announced it was awarded a five-year contract with the U.S. Food and Drug Administration, FDA, for the development of next-generation compounds to optimize pathogen reduction, PR, treatment of whole blood to reduce the risk of transfusion-transmitted infections. The contract value totals $11.1M. This research is consistent with the FDA's strategy for developing proactive, foundational interventions to ensure blood safety and availability. Given the possible benefits of whole blood transfusion2, pathogen reduced whole blood has the potential to fundamentally reshape the support of patients with massive hemorrhage.
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DAL | Hot Stocks08:34 EDT Delta Air Lines says 'may be two years or more' until normal revenue environment - "With a slow and steady build in demand, we are restoring flying to meet our customers' needs, while staying nimble with our capacity in light of COVID-19," said Glen Hauenstein, Delta's president. "While it may be two years or more until we see a normalized revenue environment, by restoring customer confidence in travel and building customer loyalty now, we are creating the foundation for sustainable future revenue growth."
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CLIR | Hot Stocks08:32 EDT ClearSign Combustion receives order for three burners - ClearSign Technologies announces it has received an order for three burners to be installed in an existing process heater at a California storage and transportation terminal. The burners were sold and will be installed by ClearSign's channel affiliate, California Boiler, who will be a subcontractor to the overall project management company, R. A. Nichols Engineering.
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GPRE | Hot Stocks08:31 EDT Green Plains sells remaining 50% of Green Plains Cattle Company for $80M - Green Plains announced the sale of its remaining 50% joint venture interest in Green Plains Cattle Company LLC to a group of investment funds that include AGR Partners and StepStone Group, among others, for approximately $80M, plus closing adjustments. The transaction was signed on October 9, 2020 with an effective date of October 1, 2020. Green Plains entered the cattle feeding industry in June 2014, with the purchase of Supreme Cattle Feeders, a 70,000-head feedyard in Kismet, Kan. Over the past six years, Green Plains Cattle Company grew to become the fourth largest cattle feeder in the United States with a total capacity of more than 355,000 head of cattle across six feedlots in Colorado, Kansas and Texas. As part of the transaction, Todd Becker will remain on the board of directors of Green Plains Cattle Company for the next year to assist in the transition.
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TRWH | Hot Stocks08:31 EDT Twin River Worldwide acquires Bally's brand - Twin River Worldwide Holdings announced that it has purchased the iconic Bally's brand previously owned by Caesars Entertainment. This acquisition will allow Twin River to maintain the Bally's name for the Atlantic City property that it has agreed to purchase from Caesars Entertainment pursuant to the previously announced purchase agreement and enables the Company to rebrand virtually all of its portfolio properties under the Bally's name and logo. As part of the deal, Twin River has agreed to provide Caesars Entertainment a perpetual license to use the Bally's brand at its existing Bally's Las Vegas Hotel & Casino property. Financial terms were not disclosed.
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OTLK | Hot Stocks08:29 EDT Outlook Therapeutics initiates supplemental open-label safety study of ONS-5010 - Outlook Therapeutics announced the initiation and enrollment of the first patients in its planned supplemental open-label safety study evaluating ONS-5010 / LYTENAVA for the treatment of wet age-related macular degeneration. The open-label safety study is being conducted to ensure that an adequate number of safety exposures to ONS-5010 / LYTENAVA are available to support Outlook Therapeutics' initial Biologics License Application filing for wet AMD with the U.S. Food and Drug Administration. In total, approximately 180 patients with a wide range of different retinal diseases for which an anti-VEGF drug can be used as a therapeutic option, including wet AMD, diabetic macular edema and branch retinal vein occlusion, are expected to be enrolled. Patients in the safety study will receive three doses of ONS-5010 over a three-month period. The data from this supplemental safety study, the results from a previously completed clinical experience trial, which demonstrated anticipated safety and efficacy as well as positive proof-of-concept, and the data from the ongoing, fully enrolled pivotal Phase 3 trial will form the complete data set required for a potential new BLA filing for the treatment of wet AMD in the second half of 2021. While unapproved repackaged IV bevacizumab from compounding pharmacies is already widely used in treating retinal diseases, ONS-5010, if approved, will be the first on-label injectable ophthalmic formulation of bevacizumab-vikg for the treatment of wet AMD and other retinal diseases; it will offer a new approved anti-VEGF treatment option across the spectrum of retinal care, currently estimated to be over $13 billion globally for anti-VEGF therapies. In addition to working towards a new BLA filing under the 351(a) PHSA regulatory pathway, Outlook Therapeutics is also engaged with regulatory authorities in Europe and other major markets for anticipated approvals in those markets. In addition to seeking regulatory approval for treating wet AMD, Outlook Therapeutics intends to initiate registration clinical trials for ONS-5010 for DME and BRVO. Commercial launch planning for ONS-5010 is ongoing, including distribution, physician and patient outreach, key opinion leader support and payor community engagement. With an enhanced safety and cost-effectiveness profile, Outlook Therapeutics expects ONS-5010 to be widely adopted by payors and clinicians worldwide and to become the first-line drug of choice for payor-mandated "step edit" in the United States for retinal indications. Outlook Therapeutics is also engaged with several life sciences companies that could result in a strategic partnership and definitive agreement for ONS-5010 as soon as the end of 2020.
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AFYA | Hot Stocks08:28 EDT Afya Limited announces acquisition of iClinic for R182.7M - Afya Limited announced the acquisition of 100% of the total share capital of iClinic, through its wholly-owned subsidiary Afya Participacoes S.A. iClinic is a SaaS model physician focused technology company and the leading practice management software in Brazil. They empower doctors to be more independent and have more control over their careers by digitalizing their daily routine, so they can increase their productivity and deliver better healthcare. Their portfolio includes: lectronic Medical Record: First electronic medical record as a SaaS model in Brazil focused on the physician experience. Clinical Management System: with this software doctors can schedule patients online, organize their financial records, use market tools to promote their clinics and others. Telemedicine: platform to provide online consultations fully integrated with doctor's schedule and records. Physicians Marketplace: website that connects doctors and patients to schedule consultations. The net purchase price was R$182.7 million, of which: 61.5% was paid in cash, and 38.5% was paid in Afya's stock.
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STMH | Hot Stocks08:25 EDT Stem Holdings expands product line with first co-branded product - Stem Holdings announced the launch of its first co-branded product leveraging two of its brands, TJ's Gardens and Yerba Buena. The new product, a Rick Simpson Oil oil extracted from cannabis flower grown and combined from both brands, is produced at the Company's TJ's Gardens facility in Eugene, OR and features both brand names. The product in syringe form will be available throughout the state of Oregon.
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GOLD | Hot Stocks08:24 EDT Barrick Gold signs definitive agreement with Bullfrog Gold - Barrick Gold announced that wholly-owned subsidiaries of Barrick and Bullfrog Gold have entered into a definitive purchase agreement pursuant to which Barrick will sell to BFGC all of Barrick's mining claims, historical resources, permits, rights of way and water rights in the Bullfrog mine area. The transaction is expected to close during the fourth quarter of 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, eliminating Barrick's back-in right. As previously announced by BFGC, in consideration, Barrick will receive 54,600,000 units. Each Unit is comprised of one share of common stock of BFGC and one whole warrant that entitles the holder to purchase one share of capital stock in BFGC at an exercise price of $0.30 for four years from the date of closing. On closing, Barrick will own approximately 16.8% of BFGC's total issued and outstanding Shares or approximately 19.9% of BFGC's Shares on a fully diluted basis. BFGC will also grant to Barrick a 2% NSR royalty on all minerals produced from the claims, decreasing to a minimum 0.5% NSR royalty on certain claims already subject to royalties. Concurrently, Augusta Investments, and certain other persons identified by Augusta, entered into subscription agreements with BFGC pursuant to which BFGC will issue and sell to the purchasers an aggregate of 110,000,000 Units for total consideration of $22,000,000. The closing of the transactions are inter-conditional and subject to other customary conditions. Barrick is acquiring the Units in BFGC for investment purposes. Depending on market conditions and other factors, including BFGC's business and financial condition, Barrick may acquire additional Units or other securities of BFGC or dispose of some or all of the Units or other securities of BFCG that it owns at such time. In connection with the transaction, Barrick, Augusta and BFGC will enter into an investor rights agreement on closing pursuant to which, among other rights, so long as Barrick maintains a minimum of 10% ownership in BFGC, Barrick will be granted the right to appoint one director to BFGC's Board of Directors and the right to participate in future BFGC equity issuances to maintain its then-current pro rata interest in BFGC.
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BDR | Hot Stocks08:23 EDT Blonder Tongue Laboratories announces U.S. Patent grant within DMM products - Blonder Tongue Laboratories reports that the US Patent and Trademark Office, USPTO, has issued a patent, US10,805,660, for certain technologies within Blonder Tongue's DOCSIS Data, DMM, series of products. The DMM series of products are presently being deployed by telecommunications, cable television, and IP market distribution companies to receive, process, and distribute data, video, and audio content to enterprise locations such as hospitality, sports venues, healthcare, educational and financial institutions. The '660 patented technology is targeted to solve the service operator challenges relating to the ability to concurrently deliver traditional live TV entertainment service along with (2) on-demand-based Over-The-Top, OTT, TV entertainment service, wireline-based data and telephony services, and (4) wireless-based data and telephony services. In addition to solving service concurrency challenges, because the patented technology is modular, the BT Labs solution presents a cleaner, more secure solution, and one that conforms to major hospitality brand standards for separable video, telephony and data service delivery.
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DRAD | Hot Stocks08:22 EDT Digirad's KBS signs Phase 3 of contract for U.S. Army housing units - Digirad Corporation announced that KBS Builders has signed Phase 3 of its previously announced project with Tocci Building Corporation. Phase 3 of this project, valued at $1.5M, increases the total project size by an additional 26 building modules and 6 living units. All three phases of this project have a combined value of $6.7M and are for the manufacture of 124 building modules to be used in the production of 28 single-family and townhouse units for the U.S. Army Natick Soldier Systems Center in Natick, MA. Phase 1 of the project has been completed. The townhouse and duplex style homes under Phase 2 of this project have commenced and building set and erection is scheduled to start later this month. All 124 modular units are being manufactured at KBS's plant in South Paris, ME, which has a production capacity of 500 to 600 building modules per year.
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AGCO | Hot Stocks08:21 EDT Agco chief communication officer Ulrich Stockheim to depart company - Agco announced that chief communication officer Ulrich Stockheim has chosen to pursue business interests outside of Agco effective December 31. Stockheim joined AGCO in March 2015 as chief communications officer and has been responsible for its global, corporate communications including press and media, investors, political and non-government organizations since his appointment. Prior to joining Agco, Stockheim served as an external professional advisor to Agco and its chairman, president and CEO Martin Richenhagen for years as a managing partner of the communications consultancy PR firm Stockheim Media.
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OR | Hot Stocks08:21 EDT Osisko Gold signs agreement with Lhtako Dene Nation for Cariboo Gold Project - Osisko Gold Royalties announced that the Lhtako Dene Nation and Barkerville Gold Mines, its wholly owned subsidiary and future 100% subsidiary of Osisko Development Corp., have entered into a life-of-project agreement to facilitate the development of the Cariboo Gold Project. The Project Agreement achieves our common goal to provide Project-related opportunities and benefits for current and future generations of the LDN people and reflects our ongoing commitment to continually strengthen and expand our relationship. The Project Agreement has been realized through the culmination of committed and conscientious efforts of LDN, BGM and our respective negotiating teams. It builds upon initial Engagement Protocol and subsequent Relationship Agreement. Specific terms of the Project Agreement remain confidential, however, it puts in place a framework for BGM and LDN to work together during all stages of the Project, including the terms under which the Project will be developed with the consent and support of the LDN.
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CCX | Hot Stocks08:21 EDT Churchill Capital Corp II to acquire Skillsoft and Global Knowledge for $1.5B - Churchill Capital Corp II, a special purpose acquisition company, and Software Luxembourg Holding S.A., announced that they have entered into a definitive agreement to merge, and Churchill II also announced that it has entered into a definitive agreement to acquire Global Knowledge Training, a worldwide leader in IT and professional skills development, from investment funds affiliated with Rhone Capital, a global private equity firm. Churchill II will merge with Skillsoft in a transaction valued at approximately $1.3B and, following the closing of the merger, the combined company will acquire Global Knowledge for approximately $233 million, putting the total cost of the transactions at $1.5B. The combined company will operate as Skillsoft and will be listed on the New York Stock Exchange. The transactions are each expected to close in January 2021, subject to approval by Churchill II and Skillsoft shareholders and receipt of regulatory approvals and customary closing conditions.
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NVAX | Hot Stocks08:20 EDT Novavax appoints leadership team to advance NanoFlu through licensure - Novavax announced the formation of a leadership team to advance NanoFlu to regulatory licensure and the promotion of Russell Wilson, J.D./M.B.A., to EVP and the newly-created role of NanoFlu General Manager. Mr. Wilson will focus exclusively on leading efforts to advance NanoFlu, the company's influenza vaccine candidate, through global licensure, as well as the exploration of a combined influenza/COVID-19 vaccine that could be used in a post-pandemic setting. Novavax announced results of its successful NanoFlu pivotal Phase 3 clinical trial earlier this year and intends to seek regulatory approval from the U.S. Food and Drug Administration under the accelerated approval pathway previously granted to the company. Wilson joined Novavax in 2011 and was most recently responsible for global business development, quality and program management functions across the company's entire pipeline. In his new role, he will lead a team that will work closely with the broader Novavax team to obtain licensure for NanoFlu from FDA and other global authorities, as well as evaluate the development of a pentavalent NanoFlu/NVX-CoV2373 vaccine. The new NanoFlu leadership team includes several Novavax veterans who led the successful development of the vaccine through completion of its successful pivotal Phase 3 clinical trial. This team has also recently completed key activities related to the development of NVX-CoV2373. In addition to Mr. Wilson, the team will be comprised of the following leaders: Tim Hahn, Ph.D., Senior Vice President of CMC for NanoFlu, has led all CMC activities for NanoFlu since the beginning of the program. Most recently, Dr. Hahn led the establishment of a global supply chain for Novavax' Matrix-M adjuvant. Matrix-M is a key component of both the NanoFlu and NVX-CoV2373 vaccines. Vivek Shinde, M.D., Vice President of Clinical Development for NanoFlu, has served as the clinical lead for the NanoFlu program since its inception and through Phase 3. Dr. Shinde also recently led the initiation of the Phase 2b clinical trial in South Africa for NVX-CoV2373.
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STIM | Hot Stocks08:18 EDT Neuronetics announces publication of data from NeuroStar Outcomes Registry - Neuronetics announced that clinical data from its NeuroStar Outcomes Registry, which suggests NeuroStar Advanced Therapy be evaluated as a first-line treatment for Major Depressive Disorder, will be published in the December 2020 print issue of the Journal of Affective Disorders and is available online now. The NeuroStar Outcomes Registry launched in November 2016 for the purpose of collecting and analyzing outcomes data from treatment in real-world clinical settings with Neuronetics' NeuroStar Advanced Therapy, a non-drug, non-invasive option for treating depression. Since its launch, it has grown into the largest registry focused on outcomes for depression treatment. The study authors found that treatment with NeuroStar Advanced Therapy showed robust antidepressant effects, greater than in early open-label studies of transcranial magnetic stimulation. The clinical benefit from NeuroStar Advanced Therapy reported by both patients and clinicians in routine clinical practice compared favorably with alternative interventions for treatment-resistant depression. The authors analyzed two sample sets of more than 5,000 patients across 103 practice sites, evaluating patient-rated and clinician-rated clinical outcomes data from treatment with NeuroStar. The research further validates efficacy results shown in a prior naturalistic study, which showed a 58 percent response rate and 37 percent remission rate on the CGI-S scale. Study highlights include: Self-reported and clinician ratings showed robust antidepressant effects from NeuroStar Advanced Therapy, greater than those in early open-label studies of TMS. Strong efficacy and the low side effect and medical risk profile suggest that NeuroStar Advanced Therapy be evaluated as a first-line treatment for Major Depressive Disorder. Efficacy did not decline with age, and motor threshold was also unrelated to antidepressant effects. Patients who received a larger number of pulses per session had superior outcomes. Females responded more favorably to treatment than males by 5-10%. Remission rates were notably high in both the Intent-to-Treat sample and the Completer sample. Response rates were notably high across self-report and clinician-administered assessments in the Completer sample.
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SILC | Hot Stocks08:16 EDT Silicom selected by Tier 1 Mobile Operator - Silicom announced that a Tier 1 Mobile Operator has selected Silicom's architecture for next-generation Distribution Units, which supports both 4G and 5G deployments, for use in field trials planned to take place during the next several months. The architecture selected is based on Silicom's Edge Units designed originally for use in SD-WAN/NFV applications. Since the original design was modular, Silicom was able to customize the solution quickly for use in the mobile network DU and to rapidly integrate Silicom's 4G/5G Smart Cards into it.
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GOLD | Hot Stocks08:16 EDT Bullfrog Gold signs agreements with Barrick Gold, Augusta Investments - Bullfrog Gold announces it has 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.
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NBSE | Hot Stocks08:14 EDT NeuBase Therapeutics adds Peter Nielsen to Scientific Advisory Board - NeuBase Therapeutics announced the addition of Peter Nielsen, Ph.D. to its scientific advisory board. Dr. Peter Nielsen is a leading expert in gene targeting, RNA interference and chemical replication and translation and was one of the inventors of PNAs in 1991. He is currently a professor at the University of Copenhagen where his lab focuses on PNAs in regard to drug discovery, gene targeting, antisense principles, cellular and in vivo delivery and administration of biopharmaceuticals.
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GTIM | Hot Stocks08:14 EDT Good Times Restaurants reports Q4 SSS increased 10% - Good Times Restaurants announced that year-over-year same store sales for its Good Times brand increased 10.0% for its fourth fiscal quarter and 7.9% for the full fiscal year ended September 29. Year-over-year same store sales at its Bad Daddy's concept decreased 12.2% during the quarter and 17.7% for the full fiscal year as we continue to experience the effects of the COVID-19 pandemic and associated government restrictions related to restaurant dining rooms. Bad Daddy's same store sales improved throughout the quarter as we believe guests are becoming more comfortable with on-premises dining. Good Times same store sales increases softened during the quarter due to increased dining options as more full-service concepts re-opened dining rooms and guests' comfort with on-premise dining progressively increased. Both brands were affected in September by one of the earliest snowfalls in Colorado history. Same store sales and average weekly sales at Bad Daddy's and Good Times for each month of the quarter are as follows: As of the end of the quarter, the Company had opened all of the dining rooms in its Bad Daddy's restaurants, and during the quarter had re-introduced some of Bad Daddy's signature menu items that had been temporarily removed from the menu during dining room closures. The Company is operating under normal terms with all of its vendors and landlords and ended the fiscal year with approximately $11 million in cash and equivalents, $5.5M drawn on its revolving credit facility, and $11.6M of PPP loans. The Company intends to seek forgiveness for the maximum portion of the PPP loans for which it is eligible for under the CARES Act and other applicable legislation.
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AMCI | Hot Stocks08:13 EDT Advent Technologies to become publicly listed through AMCI Acquisition merger - Advent Technologies and AMCI Acquisition Corp announced that they have entered into a definitive agreement and plan of merger for a business combination that would result in Advent becoming part of a publicly listed company as a wholly-owned subsidiary of AMCI. Upon the closing of the transaction, the combined company will operate as Advent Technologies and its common stock will be listed on the Nasdaq. The combined company will continue to operate under the current Advent management team, led by CEO Vasilis Gregoriou. The company said capital from this transaction, combined with AMCI's expertise, will advance the development and manufacturing of Advent's next-generation fuel cell technology for the markets of transportation, aviation, and off-grid power generation. The business combination values Advent at a $358M pro forma post-money enterprise value at a share price of $10.00, assuming no redemptions by AMCI shareholders and no purchase price adjustments. The boards of directors of both Advent and AMCI have unanimously approved the proposed transaction, which is expected to be completed in Q4 or early 2021, subject to, among other things, the approval by AMCI's shareholders and Advent's shareholders, satisfaction of the conditions stated in the merger agreement and other customary closing conditions. In connection with the business combination, AMCI will also amend its warrants at the closing of the business combination to cash-out all of its outstanding warrants for a payment of $1.50 per warrant, subject to approval by its warrantholders.
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VYST | Hot Stocks08:13 EDT Eagle Hill School installs Vystar's RxAir UV Light Air Purifier Systems - Hardwick, Massachusetts' Eagle Hill School, a boarding and day school for grades 8-12, is the first school in the country to do a mass installation of Vystar Corporation's RxAir 400 UV-C Light Air Purifier Systems throughout its campus, including classrooms, common areas and dormitories. RxAir 400 air purifiers are FDA Certified Class II medical devices proven to destroy 99.9% of airborne bacteria and viruses, including multiple Coronaviruses, H1N1, MRSA, pneumonia, strep, TB, measles, influenza, and the common cold through extended exposure to high intensity UV-C lights. RxAir also neutralizes odors, indoor pollutants, and VOCs. Eagle Hill School installed 95 RxAir units -enough for every classroom, resident hall, fitness center, dining commons, and other social common areas. Each portable RXAir unit provides up to six complete air changes per hour for an 800 square ft. room to minimize risk of infection from airborne diseases for the school's staff and students from 31 states and 11 countries.
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GMBL | Hot Stocks08:12 EDT Esports Entertainment signs agreement with LA Kings, LA Galaxy - Esports Entertainment Group announced that it has entered into an agreement with AEG to become the official esports tournament provider for the LA Kings of the National Hockey League and LA Galaxy of Major League Soccer. This is a new category for the LA Kings and LA Galaxy and the Company's first partnership with an MLS and NHL team. Under the terms of the agreement, brokered by AEG Global Partnerships, the Company will exclusively host branded tournaments for the LA Kings and LA Galaxy on its Esports Gaming League platform, providing new ways for the teams to engage their fans while demonstrating the crossover appeal of esports to traditional sports fans and organizations.
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RGLS SNY | Hot Stocks08:10 EDT Regulus receives $5M milestone payment from Sanofi - Regulus Therapeutics announced receipt of a total of $5M in milestone and material payments from Sanofi (SNY). As outlined in the recent amendment to the Company's term loan agreement with Oxford, the Company utilized the proceeds to pay down $5M in principal outstanding, reducing the remaining principal due under the term loan to approximately $9.6M. In August, the Company entered into an amendment with Sanofi concerning the receipt of potential milestones from Sanofi for its development of miR-21 programs. Under the terms of the amendment with Sanofi, the Company was eligible to receive $4M upon the completion of transfer and verification of certain materials valued at an additional $1M sold to Sanofi. In addition to this payment of $5M received, the Company is eligible to receive an additional $5M upon achievement of the interim enrollment milestone and $25M upon the achievement of the development milestone. Concurrently with this recent Sanofi amendment, the Company announced an amendment of its term loan agreement with Oxford, under which the Company is eligible for up to an additional seven months of interest only payments in the event the Company pays down an additional $5M in loan principal before April 30, 2021.
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C | Hot Stocks08:10 EDT Citi reports Q3 efficiency ratio 63.4%, ROE 6.7%, RoTCE 7.9% - Reports Q3 SLR 6.7% and payout ratio 101%. The company said, "Our capital position strengthened during the quarter with our Common Equity Tier 1 ratio increasing to 11.8% and our Tangible Book Value per share increasing to $71.95. We remain committed to returning capital to our shareholders, subject to the industry-wide approach determined by the Federal Reserve."
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LRMR | Hot Stocks08:10 EDT Larimar Therapeutics forms Scientifc Advisory Board - Larimar announced the formation of its Scientific Advisory Board. Larimar's SAB is comprised of distinguished research scientists, professors and industry experts recognized as key opinion leaders in the fields of rare disease, pediatrics and mitochondrial disease. The members of Larimar's SAB are as follows: Russell Clayton, DO - Dr. Clayton will serve as the Scientific Advisory Board Chair for Larimar Therapeutics. Marni J. Falk, MD - Dr. Falk is Executive Director of the Mitochondrial Medicine Frontier Program at The Children's Hospital of Philadelphia and Professor in the Division of Human Genetics, Department of Pediatrics at University of Pennsylvania Perelman School of Medicine. She also serves as a principal investigator of a National Institutes of Health. Giovanni Manfredi, MD, PhD - Dr. Manfredi is the Finbar and Marianne Kenny Professor in Clinical and Research Neurology at Weill Cornell Medicine. He is also a Professor of Neuroscience and directs the graduate program in Neuroscience at Weill Cornell Medicine. Mark Payne, MD - Dr. Payne is a renowned scientist and practicing cardiovascular physician who brings a long-standing scientific focus on protein targeting to mitochondria and a dedication to treating cardiomyopathies of childhood, including Friedreich's ataxia. Marshall Summar, MD - Dr. Summar serves as Chief of the Division of Genetics and Metabolism, Director of the Rare Disease Institute and is the Margaret O'Malley Chair of Genetic Medicine at Children's National Hospital.
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CYTR | Hot Stocks08:10 EDT CytRx highlights use of drug aldoxorubicin in pancreatic cancer study - CytRx highlighted that ImmunityBio, and NantKwest, have announced the addition of a third cohort to their ongoing Phase 2 study of a novel combination immunotherapy - which includes CytRx's licensed drug aldoxorubicin - for locally advanced or metastatic pancreatic cancer, QUILT-88. According to the companies, the third cohort will enable pancreatic cancer patients who have failed all approved standards of care to participate in the study. As previously noted in CytRx's October 7 press release regarding the reportedly promising treatment delivered to former Senator Harry Reid for his stage IV pancreatic cancer, this randomized, open-label study is evaluating the safety and efficacy of a combination immunotherapy that includes aldoxorubicin, ImmunityBio's IL-15 superagonist Anktiva NantKwest's PD-L1 t-haNK, and standard of care. The study results will be compared to standard of care chemotherapy for first- and second-line treatment. However, the third-line cohort is a single arm with no comparator. Each cohort will be evaluated independently to provide more precise comparative data for each disease stage. "Pancreatic cancer is the fourth leading cause of cancer-related deaths in the United States and requires significant advancements in treatment to improve outcomes for patients," said Steven A. Kriegsman, CytRx's Chairman and Chief Executive Officer. "We commend the Companies for adding a third cohort and expanding this Phase 2 study of their combination immunotherapy that includes aldoxorubicin. We are encouraged that aldoxorubicin continues to play a role in their mission to recruit and amplify the power of the human body's own immune system to target and destroy even the most difficult cancer cells." CytRx out-licensed global development, manufacturing and commercialization rights for aldoxorubicin to ImmunityBio in 2017. The Company has an agreement with ImmunityBio that can yield up to $343M in potential milestone payments as well as prospective royalties on sales of aldoxorubicin.
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GOLD | Hot Stocks08:08 EDT Twiga pays maiden interim dividend - Twiga Minerals Corporation, the joint venture between the Tanzanian government and Barrick Gold Corporation, has paid a maiden interim cash dividend of $250 million in line with Barrick's commitment to generate value for all stakeholders through the 50/50 partnership.
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ECOR | Hot Stocks08:07 EDT electroCore provides business update - The company said, "COVID-19: The launch of gammaCore Sapphire CV for treatment of known or suspected COVID patients under the previously announced Emergency Use Authorization is proceeding. gammaCore Sapphire CV is available by prescription through our VA/DoD channels, from Premier Specialty Pharmacy, and access to telehealth consults from health care providers are being offered through the UpScript telehealth portal at www.getgammacore.com. We are pleased with the level of interest this initial launch has generated for both gammaCore Sapphire CV as well as our headache products. As our understanding of the disease has evolved and in-patient treatment regimens have changed, the enrollment criteria for SAVIOR 1 and SAVIOR 2 trials in hospitalized COVID patients have proven to be more challenging than originally anticipated. We continue to monitor COVID-19 levels near the two sites conducting the study and are discussing possible modifications to the protocol with the Investigators. Federal Supply Schedule: During the third quarter of 2020, 68 Department of Veterans Affairs (VA) and Department of Defense military treatment facilities purchased gammaCore products as compared to 67 during the second quarter of 2020, 64 during the first quarter of 2020, 54 during the fourth quarter of 2019 and 48 during the third quarter of 2019. Also, during the third quarter of 2020, the company shipped approximately 1,600 paid months of therapy pursuant to VA and DoD originating prescriptions, compared to 988 paid months of therapy in the second quarter of 2020, 1,084 paid months of therapy during the first quarter of 2020, 829 during the fourth quarter of 2019 and 553 during the third quarter of 2019. In light of the ongoing COVID-19 pandemic, the company's ability to visit VA doctors and facilities remains limited. However, the VA quickly and effectively adopted telehealth capabilities, with the number of daily sessions increasing more than 10x since the start of the pandemic, according to a news release from the Office of Public and Intergovernmental Affairs. The company continues to navigate through this challenging business environment and remains well positioned to resume all available outreach activities if and when the pandemic subsides. Outside of the U.S.: During the third quarter of 2020, electroCore shipped approximately 1,020 paid months of therapy outside of the United States, as compared to 938 paid months of therapy during the second quarter of 2020 and 1,008 during the first quarter of 2020. Since April 2019, gammaCore has been reimbursed by NHS England's Innovation and Technology Payment Program for the treatment of cluster headache in adults. The ITP Program is designed to support the adoption of innovations and technologies in the NHS market through the removal of significant financial barriers for both commissioners and providers. Earlier this month, the ITP Program for gammaCore was again extended for a six-month period through March 1, 2021 with the option for three additional years. The total contract value, assuming exercise of the three-year option, could be up to approximately $4.6 million at recent exchange rates. Perhaps more importantly, the company views this extension as another meaningful validation of nVNS technology. More than 55,000 adults in the U.K. suffer from cluster headache, a truly debilitating condition with few effective treatment options. Commercial: During the first half of 2020, the company restructured and streamlined its commercial distribution channel. All of the inventory placed in the commercial channel during 2019 was fully dispensed by June 30, 2020. As a result, the company was able to recognize a full quarter of replenishment orders during the period ended Sep 30, 2020. The company is monitoring pharmacy inventory on an ongoing basis and expects ongoing contribution from commercial replenishment orders in the coming quarters. mTBI/PTSD VA Study. In the quarter ended September 30, 2020, the company was notified that the VA has agreed to sponsor a quadruple blind, randomized, sham-controlled clinical trial of nVNS as a potential treatment for mild traumatic brain injury and Post-Traumatic Stress Disorder. The trial is being sponsored by the VA's Office of Research and Development at the Atlanta VA Medical Center. mTBI and PTSD are of significant concern for the VA in light of recent conflicts in Iraq and Afghanistan, and it is estimated that up to 56% of mTBI patients have co-morbid PTSD, making the combined conditions more common than each individually. This is an important study for the company with the potential to introduce gammaCore in an entirely new indication and further leverage the company's existing relationship with the VA. Clinical: In addition to COVID-19, gammaCore investigator initiated trials continue to progress in stroke, subarachnoid hemorrhage, certain rheumatologic conditions, and as outlined above, in mTBI/PTSD which is supported by the VA."
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C | Hot Stocks08:07 EDT Citi reports Q3 cost of credit $2.3B, up 8% - Citigroup cost of credit of $2.3B in Q3 increased 8%, largely reflecting an increase in ICG allowance for credit loss reserves, partially offset by decreases in GCB and Corporate / Other.
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GMDA | Hot Stocks08:05 EDT Gamida Cell and Be The Match BioTherapies expand strategic collaboration - Gamida Cell and Be The Match BioTherapies announced an expansion of their existing strategic collaboration for omidubicel, Gamida Cell's advanced cell therapy in Phase 3 clinical development as a potentially life-saving treatment option for patients in need of an allogeneic hematopoietic stem cell (bone marrow) transplant. The broadened agreement represents an important step in both organizations' patient access efforts and in Gamida Cell's preparation for potential approval by the U.S. Food and Drug Administration, FDA. The original partnership agreement between the organizations focused on the omidubicel development program and leveraged a wide range of Be The Match BioTherapies' capabilities and services. This included providing cellular source material from the Be The Match Registry, which offers the most ethnically diverse listing of potential donors and umbilical cord blood units in the world, with 22 million potential donors and more than 300,000 umbilical cord blood units, as well as cell therapy supply chain and logistics management services. In building upon the existing collaboration, Gamida Cell will work through Be The Match BioTherapies for the ordering and supply of cord blood units, which serve as the starting material for omidubicel. The expanded agreement is designed to provide a smooth process throughout the omidubicel therapy supply chain.
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VXRT | Hot Stocks08:04 EDT Vaxart doses first subject in Phase 1 trial of COVID-19 vaccine oral tablet - Vaxart announced that the first subject has been dosed in its Phase 1 study of VXA-CoV2-1, an oral tablet COVID-19 vaccine candidate. The Phase 1, open-label, dose-ranging trial is designed to examine the safety and immunogenicity of two doses of VXA-CoV2-1 in up to 48 healthy adult volunteers aged 18 to 54 years old. Enrollment is expected to be completed by early November 2020, with participants receiving the low or high dose of the VXA-CoV2-1 oral tablet at days 1 and 29. Safety, reactogenicity and immunogenicity assessments will be performed at set times during the active phase.
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KFS KAR | Hot Stocks08:03 EDT Kingsway Financial to acquire PWI Holdings for $24.5M - Kingsway Financial (KFS) announced the signing of a definitive agreement to acquire PWI Holdings from ADESA Dealer Services, a subsidiary of KAR Auction Services (KAR), d/b/a KAR Global, subject to certain regulatory approvals and other customary closing conditions. PWI, through its subsidiaries Preferred Warranties, Inc., Superior Warranties, Inc., Preferred Warranties of Florida, Inc., and Preferred Nationwide Reinsurance Company, Ltd, markets, sells and administers vehicle service contracts in all fifty states, primarily through a network of automobile dealer partners. The purchase price for the acquisition is $24.5M and is expected to close prior to year-end, pending receipt of the requisite regulatory approvals and satisfaction of other customary closing conditions. Kingsway expects to fund the purchase price via a mix of cash on hand and third-party financing. Ice Miller LLP served as legal counsel to Kingsway and Taft Stettinius & Hollister LLP served as legal counsel to KAR in connection with the transaction.
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PMVP | Hot Stocks08:03 EDT PMV Pharmaceuticals granted Fast Track Designation of PC14586 - PMV Pharmaceuticals announced that the U.S. Food and Drug Administration has granted Fast Track designation to its lead product candidate PC14586, for the treatment of cancer patients with locally advanced or metastatic solid tumors that have a p53 Y220C mutation. There are currently no FDA-approved medicines that target the p53 Y220C mutation. p53 plays a pivotal role in cellular function by preserving the integrity of DNA and preventing abnormal cells from entering or progressing through the cell cycle. Mutant p53 takes on oncogenic properties that endow cancer cells with a growth advantage and resistance to anti-cancer therapy. Mutant p53 proteins are very common and are found in approximately half of all human cancers. The p53 Y220C mutation is associated with many cancers including but not limited to breast, non-small cell lung cancer, colorectal, pancreatic and ovarian cancers. PC14586 is a first-in-class small molecule designed to structurally correct the p53 Y220C mutant protein. PMV Pharma plans to conduct a Phase 1/2 open-label, multicenter study to assess the safety, tolerability, pharmacokinetics, and anti-tumor activity of PC14586 in adult patients with a p53 Y220C mutation in locally advanced or metastatic solid tumors. Phase 1 is a first-in-human, open-label, dose-escalation study designed to up to 30 patients with solid tumors that have a p53 Y220C mutation using next-generation sequencing. Phase 2 is an open-label study designed to assess anti-tumor efficacy and safety in patients with solid tumors that have a p53 Y220C mutation. Phase 2 is expected to enroll up to 100 patients.
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CLDX | Hot Stocks08:02 EDT Celldex initiates Phase 1b study of CDX-0159 - Celldex Therapeutics announced that enrollment has opened and the first patient has been dosed in its randomized, double-blind Phase 1b study of CDX-0159 in patients with chronic spontaneous urticaria. CDX-0159 is a humanized monoclonal antibody developed by Celldex that binds the KIT receptor with high specificity and potently inhibits its activity. The KIT receptor tyrosine kinase is expressed in a variety of cells, including mast cells, which mediate inflammatory responses such as hypersensitivity and allergic reactions. KIT signaling controls the differentiation, tissue recruitment, survival and activity of mast cells. As previously presented, CDX-0159 demonstrated a favorable safety profile as well as profound and durable reductions of plasma tryptase, indicative of systemic mast cell ablation in a Phase 1a single dose, healthy volunteer study. The Phase 1b study is a randomized, double-blind, placebo-controlled clinical trial designed to assess the safety of multiple ascending doses of CDX-0159 in patients with CSU who remain symptomatic despite treatment with antihistamines. Secondary and exploratory objectives include pharmacokinetic and pharmacodynamic assessments, including measurement of tryptase and stem cell factor levels and clinical activity outcomes as well as quality of life assessments. The study is expected to enroll approximately 40 patients with CSU across four cohorts. CDX-0159 dosing for each cohort is as follows: Cohort 1 - 0.5 mg/kg Q 4 weeks; Cohort 2 - 1.5 mg/kg Q 4 weeks; Cohort 3 - 3 mg/kg Q 8 weeks; and,Cohort 4 - 4.5 mg/kg Q 8 weeks. CDX-0159 will be administered intravenously as add on treatment to H1-antihistamines, either alone or in combination with H2-antihistamines and/or leukotriene receptor agonists.
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PECK | Hot Stocks08:00 EDT Peck awarded $7.64M in contracts for projects in Vermont - Peck announced the signing of contracts totalling $7.64M for six projects totaling 10.5 megawatts, or MWs. The 10.5MW portfolio of six projects is located in Vermont and include nameplate sizes from 220kWdc to 2.7MWdc. Several of the projects have already started construction and will be completed by year-end. The entire portfolio will be complete within the next two quarters. Peck is the dominant solar EPC contractor in Vermont and has constructed over 1/3 of the 358 megawatts currently installed in Vermont. The Solar Energy Industry Association reports that Vermont is expected to install an additional 251 megawatts of solar PV projects through 2025. Vermont has been an active participant in the energy transformation with a Renewable Energy Standard to utilize 75 percent renewable energy by 2032. Green Mountain Power, the utility that serves of the power for Vermont, announced an energy vision to have a 100 percent carbon free energy supply by 2025 and 100 percent renewable energy by 2030.
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SGSVF | Hot Stocks07:52 EDT Sabina Gold & Silver announces assay results from Umwelt High-Grade Corridor - Sabina Gold & Silver Corp announced further high grade assay results from drilling of the upper portions of the high-grade corridor at the Umwelt Underground resource on its 100%-owned Back River Gold Project in Nunavut, Canada. Internal studies conducted earlier this year suggest that mining higher-grade underground material at the beginning of the mine life could have a significant positive impact on project economics by increasing gold production in the early years. Drilling was designed to delineate and detail the nature of the high-grade structure at Umwelt, which has never been discretely targeted. During the 2020 field program, nine holes were drilled, proving the hypothesis that additional high-grade corridors exist between the Vault Zone at depth and the bottom of the proposed open pit at Umwelt. This year's drilling focused on a zone directly under the proposed Umwelt open pit at a depth that ranges from 135m to 285m below surface, over a plunge extent of approximately 300 m. All seven drill holes targeting this zone returned exceptional widths of gold mineralization, up to 2-3 times the average grade of the Umwelt underground reserve. The V2 Zone is very similar to the Vault Zone, further supporting the concept of additional high-grade underground corridors within the Umwelt deposit. These results will be incorporated into an updated Feasibility Study expected to be released in the 1st Quarter of 2021. To further explore the high-grade corridor at Umwelt, the Company is moving forward with an underground exploration ramp that can facilitate further exploration drilling as well as provide for bulk sampling. The exploration ramp could provide early access to continue exploring the V2 Zone with approximately 1500m of ramp development. The initial surface work and mobilization of equipment required to support the exploration ramp is underway, with collaring of the decline expected in early 2021. These assay results are the final three holes from the V2 Zone and include: hole 20GSE581 which returned 16.59 g/t over 20.55 m hole 20GSE582 which returned 14.78 g/t over 22.75 m and hole 20GSE584 which returned 14.78 g/t over 24.80 m. One additional drill hole 20GSE576 targeted mineralization located 200 m below the V2 zone with results as described in table 3.0. Highlights from previous drilling at V2 as reported includes 15.15 g/t over 19.40 m in hole 20GSE571 and 19.89 g/t over 32.20 m in drill hole 20GSE575C. Sabina's focus on structural studies over the last three years has yielded strong exploration opportunities across the Goose Property and driven positive resource optimization and growth at Umwelt. As part of this focused approach, drilling in 2020 was committed to better define the continuity of higher-than-average-grade potential within the Umwelt underground over approximately 815 m of plunge length that extends north from the Vault zone towards the boundaries of the Umwelt Open Pit. Mineralization intersected by drill holes 20GSE581, 20GSE582 and 20GSE584 continues to demonstrate the exceptional tenor of mineralization associated with the Umwelt gold structures and is an excellent example of many of the best features characterizing Back River gold zones. Iron formation consists of moderate to strong chlorite, actinolite and silica alteration with pervasive quartz veining hosting common sulphides including pyrrhotite and arsenopyrite occurring heavily throughout the zone. These three drill holes are excellent examples of the robust mineralization style that includes heavy sulphidation of the host rock with exceptional grade occurring proximal to the lower contact of the iron formation units. Rheologic contrast of the stratigraphy and high-iron content of the host horizon are interpreted as favourable features in establishing high quality deposits at Back River. Visible gold was observed in all holes targeting the Umwelt underground V2 Zone reported to date. Drilling has now completed with two phases at Umwelt through nine holes supporting the objective. Upon receipt of the final Versatile Time Domain Electromagnetic data collected at the Goose property and other regional areas as part of this year's field program, Sabina will undertake additional forward modelling and rigorous data review in preparation for additional exploration drilling in 2021. With the help of experts, this new dataset will be studied at known deposits to properly characterize physical properties of mineralization and key structures. This characterization will then play an important role in target prioritization and evaluation of regional areas. Exploration drilling has also been completed at several high-priority targets however results are pending at this time
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ATUSF APO | Hot Stocks07:49 EDT ARR enters relationship with Apollo Global for renewable energy royalty business - Altius Minerals (ATUSF) reported that its subsidiary, Altius Renewable Royalties, or ARR, has entered into a strategic relationship with certain funds managed by affiliates of Apollo Global Management (APO) to accelerate the growth of its renewable energy royalty business. Under the agreement structure the Apollo Funds will solely fund the next $80M in approved investment opportunities in Great Bay Renewables, or GBR, which is the U.S. based operating subsidiary of ARR, in exchange for a 50% stake in GBR, with opportunities thereafter funded equally by the Apollo Funds and ARR and with an equally shared governance structure. Apollo Funds have disclosed that they expect to invest up to $200M in GBR. A conference call and webcast will be held to discuss the event. ARR and Apollo see significant opportunities for Great Bay to provide renewable energy royalty financing to help fund the development of wind, solar and energy storage projects to be built in the U.S. and Canada over the next decade. GBR's royalty structure can be applied to all stages of a renewable project's life cycle. To date, GBR has completed over $60M in investments in leading developers like Apex Clean Energy and Tri Global Energy that are advancing over 18 gigawatts of wind and solar projects. Its pipeline of potential new investment opportunities continues to expand as royalty financing gains increasing adoption within the renewable energy sector.
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APO ATUSF | Hot Stocks07:47 EDT Apollo Infrastructure Funds, Altius Renewable Royalties announce joint venture - Apollo Global Management (APO) announced that certain funds managed by its affiliates have formed a joint venture with Altius Minerals Corporation (ATUSF) subsidiary Altius Renewable Royalties to accelerate the growth of Great Bay Renewables, the US-based operating subsidiary of Altius and a leading provider of renewable energy development capital in North America. Apollo Funds expect to invest up to $200M and will have the opportunity to acquire up to a 50% stake in Great Bay, the proceeds of which will be used by Great Bay to invest in prominent renewable energy development platforms in North America. Through the investment, Apollo's infrastructure strategy becomes the first in its asset class to fund renewable royalties and expects to establish a leadership position in the space. Formed in 2017, Great Bay provides strategic capital to renewable energy developers via a flexible, proprietary royalty structure that can be applied to all stages of a renewable project's life cycle and help accelerate the development process in a non-dilutive structure. The company is led by President and CEO Frank Getman and a management team with extensive experience in renewable energy development, financing, and operations, across a range of renewable technologies and asset types. Apollo joins the teams at Great Bay and Altius in seeing significant opportunities to invest in wind, solar and energy storage projects in the US and Canada over the next decade. Since inception, Great Bay has invested more than $60M in leading developers such as Apex Clean Energy and Tri Global Energy, which together are advancing over 18 gigawatts of wind and solar projects.
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CBWTF | Hot Stocks07:36 EDT Auxly Cannabis announces Back Forty cannabis brand - Auxly Cannabis Group announced the Back Forty, a new cannabis brand about embracing simplicity and getting back to the basics. Back Forty launches with three unique SKUS of distinct high-potency vapes, available at cannabis retailers in British Columbia, Alberta, Ontario and New Brunswick, with more provinces to follow in coming months. All Back Forty vapes contain only two ingredients - cannabis distillate and botanical terpenes. Each 0.45 g cartridge contains 360 mg of THC, with no CBD. At launch, Back Forty is introducing the following strains: Super Lemon Haze is a Sativa packing a citrus and floral taste, with botanical terpenes of d-limonene, terpinolene, myrcene and caryophyllene. Forbidden Fruit is an Indica with citrus and earthy taste notes from d-limonene and myrcene botanical terpenes. Kush Mint is a Hybrid with a refreshing burst of mint taste, with menthol and d-limonene botanical terpenes.
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LH | Hot Stocks07:36 EDT LabCorp, The Commons Project enter partnership to allow access to test results - LabCorp and The Commons Project announced a strategic partnership to allow people to securely access their LabCorp test results via CommonHealth, the privacy-preserving Android app that enables users to collect, store and use their personal health information. LabCorp is the first major commercial lab to integrate with CommonHealth, which is also working with a wide range of other health care providers.
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GOSS | Hot Stocks07:35 EDT Gossamer Bio trading resumes
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SYK WMGI | Hot Stocks07:34 EDT Stryker extends cash tender offer for shares of Wright Medical - Stryker (SYK) announced that Stryker B.V., an indirect, wholly owned subsidiary of Stryker, has extended the offering period of its previously announced cash tender offer for all outstanding ordinary shares of Wright Medical Group N.V. (WMGI). The tender offer is being made pursuant to the purchase agreement, dated November 4, 2019, among Stryker, Stryker B.V. and Wright Medical. The tender offer is now scheduled to expire at 5:00 p.m., Eastern Time, on October 28, 2020, unless the tender offer is further extended or earlier terminated in accordance with the purchase agreement.
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SLG | Hot Stocks07:34 EDT SL Green Realty signs lease with Hodges Ward Elliott at One Vanderbilt Avenue - SL Green Realty announced that Hodges Ward Elliott, the premier boutique real estate capital markets advisor, has signed a new 12,692 square foot, 10-year lease to occupy part of the 50th floor at One Vanderbilt Avenue, the newly opened skyline-defining tower in the heart of East Midtown. "Following our successful September opening we continue to see strong demand for One Vanderbilt. Hodges Ward Elliott is now the third lease we've signed at the building since the start of the pandemic, a key indicator that world-class companies still want the best-in-class, healthy office experience to propel their companies forward," said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green.
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NEPH | Hot Stocks07:34 EDT Nephros announces release of DialyPath endotoxin assay - Nephros announced availability of DialyPath, an assay that estimates endotoxin levels in dialysis water samples. Water sampling is generally required in dialysis clinics to ensure that no waterborne contamination is present. Of particular interest are endotoxins, which are gram-negative bacterial fragments that can cause inflammation and other complications in dialysis patients. DialyPath is an on-site test that measures endotoxin levels in about two hours. DialyPath results correlate highly with data from the limulus amebocyte lysate assay, currently the industry standard for endotoxin measurement. DialyPath uses qPCR technology to quantify DNA target segments in a water sample, which are matched to a DNA segment that is found in all gram-negative bacteria. From these results, DialyPath uses proprietary algorithms to estimate the number of endotoxin units in a dialysis water sample.
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CTXR | Hot Stocks07:33 EDT Novellus Therapeutics licenses iMSCs to Citius Pharmaceuticals' NoveCite - Novellus Therapeutics announced that it has licensed its induced mesenchymal stem cells on a worldwide basis to NoveCite, a newly formed subsidiary of Citius Pharmaceuticals. NoveCite will develop and commercialize Novellus's iMSCs to treat acute respiratory conditions with a near term focus on Acute Respiratory Distress Syndrome associated with COVID-19. Novellus is a 25% equity holder in NoveCite. Novellus received a $5M upfront payment, and is eligible to receive up to $51M in development milestone payments, as well as low double-digit royalties.
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JPM | Hot Stocks07:32 EDT JPMorgan still sees FY20 net interest income about $55.5B, market dependent - Sees FY20 adjusted expense of about $66B. Comments taken from Q3 earnings conference call presentation slides.
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MBRX | Hot Stocks07:31 EDT Moleculin Biotech reports additional data from Phase 1 trials of STAT3 - Moleculin Biotech announced additional preliminary data from the Phase 1 clinical trial of its immuno-stimulating STAT3 inhibitor, WP1066, in patients with glioblastoma, or GBM. This supports the progression of the trial to the fourth and final dose escalation cohort. Three patients have completed treatment in the third cohort at a dose level of 8 mg/kg with no adverse events related to WP1066 and the study will now proceed to the next higher dose of 16 mg/kg.
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RCL | Hot Stocks07:27 EDT Royal Caribbean may seek to further reduce average monthly expenses - Royal Caribbean may seek to further reduce its average monthly expenses under a further prolonged non-revenue scenario. This includes consideration of additional vessels heading to cold layup as well as further assessment of our US shoreside workforce, including those coming back from furlough.
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RCL | Hot Stocks07:27 EDT Royal Caribbean Q3 cash burn rate approx. $250M-$290M per month - The company said: "As of September 30, 2020, we had liquidity of approximately $3.7 billion, including $3.0 billion in the form of cash and cash equivalents and a $0.7 billion commitment for a 364-day term loan. Our cash burn rate for the third quarter was consistent with our previously announced range of approximately $250 million to $290 million per month during a prolonged suspension of operations, when excluding cash refunds of customer deposits, commissions, cash inflows from new and existing bookings and fees and collateral postings related to our financing and hedging activities."
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RCL | Hot Stocks07:26 EDT Royal Caribbean had about $1.8B in customer deposits as of June 30 - The company believes that the customer deposits balance is not materially different as of September 30, 2020 as compared to the June 30, 2020 balance. Approximately 50% of the guests booked on cancelled sailings have requested cash refunds.
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RCL | Hot Stocks07:25 EDT Royal Caribbean: 2021 bookings have continued to improve over last 2 months - In a regulatory filing, the company said: "Our bookings for 2021 have continued to improve over the last two months, although still below pre-COVID-19 levels. Pricing for 2021 bookings is relatively flat year-over-year when including the negative yield impact of bookings made with future cruise credits; it is slightly up year-over-year when excluding them. We have implemented various programs to best serve our booked guests providing the choice of future cruise credits or the opportunity to "Lift & Shift" their booking to the same sailing the following year in lieu of providing cash refunds."
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RCL | Hot Stocks07:25 EDT Royal Caribbean: Pandemic continues to have material impact on results - In a regulatory filing, Royal Carribean said: "The disruptions to our operations resulting from the COVID-19 pandemic have had, and continue to have, a material negative impact on our financial condition and results of operations. The outbreak of COVID-19 has resulted in an unprecedented global response to contain the spread of the disease. These global efforts have resulted in travel restrictions and created significant uncertainty regarding worldwide port closures and availability. As part of the global containment effort, we previously announced a voluntary suspension of our four global cruise brands' operations: Royal Caribbean International, Celebrity Cruises, Azamara and Silversea Cruises effective March 13, 2020, which has been extended through at least November 30, 2020, excluding sailings from Hong Kong. In addition, although Royal Caribbean International has received approval from the Singapore Government to pilot cruises starting in December 2020, Royal Caribbean International will be suspending all sailings departing from Australia and New Zealand on or before December 31, 2020. Celebrity Cruises will also be suspending their full 2020/21 Winter program in Australia and Asia. Additionally, Azamara will be suspending their 2020/21 Winter sailings throughout Australia and New Zealand, South Africa and South America. In connection with these suspensions, we have repatriated over 44,000 crew members to their home countries around the globe. Containment efforts as a result of the disease and continued disruptions to travel and port operations in various regions may result in further suspensions."
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BLK | Hot Stocks07:22 EDT BlackRock jumps 6% to $653.69 after Q3 results beat estimates
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VSTO | Hot Stocks07:19 EDT Vista Outdoor sees Remington acquisition accretive to earnings in FY22 - Vista Outdoor announced the successful closing of the acquisition of certain assets related to Remington Outdoor Company's ammunition and accessories businesses, and related intellectual property for a gross purchase price of $81.4M. Vista Outdoor expects the transaction to be accretive to earnings, excluding transaction and transition costs, in Fiscal Year 2022. For calendar year 2019, aggregate net sales by the Remington ammunition and accessories brands were approximately $200M.
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EYEN BHC | Hot Stocks07:17 EDT Eyenovia to host investor call to discuss licensing agreements - Eyenovia (EYEN) announced that management will host an investor conference call to discuss the company's recent licensing agreements and provide an update on the company's short term milestones for its drug programs. The call is scheduled for today, October 13, at 4:30pm ET. On October 12, 2020, Eyenovia and Bausch Health Companies Inc. (BHC) announced that an affiliate of Bausch Health has acquired an exclusive license in the United States and Canada for the development and commercialization of MicroPine, 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. Under the terms of the licensing agreement with Bausch Health, Eyenovia is eligible to receive up to $45M in license payments of which $10M was due upfront and the balance is due upon approval- and launched-based milestones. Upon signing, Bausch Health also assumed oversight and costs related to the ongoing Phase 3 CHAPERONE clinical trial. The upfront license payment and reduced operating expenses are expected to yield cash flow to Eyenovia of approximately $20M to $25M in total through the end of 2022. In commercialization, Eyenovia is eligible to receive royalties ranging from mid-single digit to mid-teen percentages of gross profit on sales in the United States and Canada. William Blair & Company, L.L.C. served as Eyenovia's exclusive financial advisor for the transaction. On August 11, 2020, Eyenovia and Arctic Vision Limited announced that Arctic Vision acquired an exclusive license in Greater China and South Korea for the development and commercialization of both MicroPine and MicroLine, an investigational microdose formulation of pilocarpine for the treatment of presbyopia delivered with the Optejet dispenser technology. Under the terms of the Arctic Vision agreement, Eyenovia may receive up to a total of approximately $45M in upfront payments as well as additional payments, based on various development and regulatory milestones, including the initiation of clinical research and approvals in Greater China and South Korea, and development costs. In addition, Arctic Vision will purchase its supply of MicroPine and MicroLine from Eyenovia or, for such products not supplied by Eyenovia, pay Eyenovia a mid-single digit percentage royalty on net sales of such products, subject to certain adjustments. Eyenovia will pay a mid-double digit percentage of such payments, royalties, or net proceeds of such supply to its Asian licensee pursuant to the arrangement by which Eyenovia reacquired rights to such products in Greater China and South Korea from the original licensee.
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RPLA | Hot Stocks07:16 EDT Finance of America Equity Capital to go public through Replay Acquisition merger - Finance of America Equity Capital and Replay Acquisition Corp., a publicly traded special purpose acquisition company, agreed to a business combination that will result in Finance of America becoming a publicly listed company. Finance of America connects borrowers with investors. The company operates in four large markets including Mortgage, Reverse Mortgage, Commercial Real Estate, and Fixed Income Investing. Brian Libman, founder and chairman of Finance of America, Patricia Cook, CEO, and Graham Fleming, president, will continue to lead the company. Implied equity value of the combined company at closing is approximately $1.9B. The transaction implies an equity valuation at closing for the combined company of $1.9B. Top-tier institutional investors have committed to invest $250M in the form of a PIPE at a price of $10.00 per share of the combined company's Class A common stock immediately prior to the closing of the transaction. Estimated cash proceeds will consist of the PIPE in addition to Replay Acquisition's $288M of cash in trust, subject to redemptions. It is anticipated that the combined company will begin with a minimum of $250M of cash and cash equivalents. Pro forma for the transaction, assuming no redemptions by Replay Acquisition's public shareholders, Management, entities managed by Finance of America's founder and funds managed by Blackstone Tactical Opportunities will own approximately 70% of the combined company. Over half of the sponsor's founder shares of Replay Acquisition will be deferred and subject to share price hurdles. The board of Replay Acquisition and the board of Finance of America's parent company have unanimously approved the transaction. The transaction will require the approval of the shareholders of Replay Acquisition, and is subject to other customary closing conditions, including the receipt of certain regulatory approvals. The transaction is expected to close in the first half of 2021.
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PSTI | Hot Stocks07:14 EDT Pluristem announces clearance for enrollment of Cohort II in GvHD study - Pluristem Therapeutics announced that it has received clearance from the safety committee of an investigator initiated Phase I/II study to move forward with patient enrollment for cohort II. The study will evaluate PLX-PAD cells in the treatment of steroid-refractory chronic graft vs. host disease and is led by Principal Investigator Prof. Ron Ram, Director of the Hematology Blood and Marrow Stem Cell Transplantation Unit at Tel Aviv Sourasky Medical Center, Ichilov Hospital, Israel. Prof. Ram and his research staff are responsible for the design and implementation of the study at Sourasky Medical Center. GvHD is a severe complication in patients who have undergone an allogeneic hematopoietic cell transplantation and is a major cause of morbidity and mortality in these patients in which the donated stem cells identify the recipient's body as foreign and attack it. The chronic form of GvHD usually appears later than 100 days post-transplant. Cohort I included 6 patients treated with 2 injections of 150 million cells, a week apart. At the 3-month follow up, interim safety results concluded that PLX-PAD cells were safe and that no treatment related side effects were reported. Efficacy results demonstrated that 4 out of the 6 patients reported improvement in symptoms that translated into a reduction in the severity of cGvHD with notable reduction in the required steroid doses for part of the patients. Based on these results, the study was approved to commence enrollment of 14 patients in cohort II to be treated with 4 injections of 150 million cells.
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GOSS | Hot Stocks07:13 EDT Gossamer Bio won't continue further development of GB001 in rhinosinusitis
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AKTS | Hot Stocks07:12 EDT Akoustis ships fourth 5G small cell network infrastructure filter to customer - Akoustis Technologies announced that it has shipped a fourth XBAW filter solution to an existing tier-1 5G small cell network infrastructure customer. The Company expects this new filter solution to enter commercial production in the first half of calendar 2021. This fourth XBAW filter solution operates within the new radio band n79 spectrum and follows the Company's two design wins in band n77 and one design win in band n79 with its tier-1 5G small cell network infrastructure customer.
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GOSS | Hot Stocks07:12 EDT Gossamer Bio announces results for Phase 2 trials of oral GB001 - Gossamer Bio announced topline results from its Phase 2b LEDA trial in patients with moderate-to-severe eosinophilic asthma and its Phase 2 TITAN trial in patients with chronic rhinosinusitis. The LEDA trial enrolled 480 patients with uncontrolled, moderate-to-severe eosinophilic asthma and assessed the effect of oral GB001 add-on therapy to standard of care over 24 weeks, comparing three dose groups of once-daily, oral GB001 to placebo. The primary endpoint of the trial was not met, though consistent and meaningful numeric reductions in the odds of asthma worsening as compared to placebo were observed across all GB001 groups, Gossamer said. Consistent reductions for each GB001 group as compared to placebo were seen across all individual components of the asthma worsening endpoint. The proof-of-concept TITAN trial enrolled 97 patients with chronic rhinosinusitis with and without nasal polyps and assessed treatment with GB001 40 mg vs. placebo over 16 weeks. Neither the primary nor the secondary endpoints of the trial were met. The safety and tolerability of GB001 40 mg was generally consistent with that observed in the LEDA Study. Gossamer said: "We do not plan to continue further development of GB001 in chronic rhinosinusitis." "While we did not achieve statistical significance on the primary endpoint in the LEDA Study, we are encouraged by the consistent results observed for all three doses of once-daily, oral GB001 therapy across the primary and secondary endpoints," said Sheila Gujrathi, M.D., Co-Founder and CEO of Gossamer. "We believe these data provide important information for designing a well-powered Phase 3 program for GB001 in severe asthma. We plan to engage in global regulatory discussions in order to inform our thinking around potential partnerships or strategic alternatives for this program."
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GOSS | Hot Stocks07:12 EDT Gossamer Bio says results from its Phase 2b LEDA did not meet primary endoint - Gossamer Bio announced topline results from its Phase 2b LEDA trial in patients with moderate-to-severe eosinophilic asthma and its Phase 2 TITAN trial in patients with chronic rhinosinusitis. "While we did not achieve statistical significance on the primary endpoint in the LEDA Study, we are encouraged by the consistent results observed for all three doses of once-daily, oral GB001 therapy across the primary and secondary endpoints," said Sheila Gujrathi, M.D., Co-Founder and Chief Executive Officer of Gossamer. "We believe these data provide important information for designing a well-powered Phase 3 program for GB001 in severe asthma. We plan to engage in global regulatory discussions in order to inform our thinking around potential partnerships or strategic alternatives for this program." The results of the robust LEDA Study are meaningful and help us to further understand the DP2 pathway in asthma," said Bruce Levy, M.D., Chief, Division of Pulmonary and Critical Care Medicine at Brigham and Women's Hospital and Professor of Medicine at Harvard Medical School. "I believe GB001 as an oral treatment has the potential to serve the high unmet need of patients with uncontrolled severe asthma." The primary endpoint, asthma worsening, included five components and was chosen for its sensitivity in detecting deterioration in clinical outcome measures known to be correlated with exacerbations. A patient was considered to have experienced asthma worsening if they met any of the five components by Week 24. This endpoint has previously been used in the context of steroid withdrawal studies, including a prior Phase 2 trial of GB001.
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AG | Hot Stocks07:11 EDT First Majestic reports Q3 total production of 5.2M silver equivalent ounces - First Majestic Silver announces that total production in the third quarter of 2020 reached 5.2 million silver equivalent ounces consisting of 3.2 million ounces of silver and 25,771 ounces of gold. Quarterly silver and gold production increased 72% and 63%, respectively, compared to the prior quarter following Mexico's Ministry of Health's Federal Decree requiring all non-essential businesses, including mining, to temporarily suspend activities throughout most of April and May in response to the global pandemic. In the first nine months of 2020, the Company produced 8.1 million ounces of silver and 73,738 ounces of gold for a total production of 14.9 million silver equivalent ounces. La Encantada produced 978,416 silver ounces, representing a 92% increase from the prior quarter and the second highest quarterly production since 2014. La Encantada is now expected to fully recover its lost silver ounces due to the COVID-19 shutdown by year-end. San Dimas produced 1,678,075 ounces of silver and 18,268 ounces of gold, representing the highest quarterly silver production since acquiring the asset in May 2018. Santa Elena produced 502,375 ounces of silver and 7,428 ounces of gold, representing an increase of 126% and 102%, respectively, compared to the prior quarter. Liquid Natural Gas storage tanks were delivered and installed at Santa Elena during the quarter. The project remains on schedule for commissioning in Q1 2021 and is expected to significantly reduce energy costs going forward. Construction of a second portal, including the initial development of a new parallel south ramp, at Santa Elena's Ermitano project was completed during the third quarter.At the end of the third quarter, 26 exploration drill rigs were active across the Company's mines and projects consisting of 14 rigs at San Dimas, eight rigs at Santa Elena, two rigs at La Encantada and two rigs at La Parrilla. Total exploration metres planned for 2020 have been increased by 24,000 metres to a total target of 163,000 metres for the full year. The Company held a balance of $232.4 million in cash and cash equivalents at the end of the quarter.
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GOSS | Hot Stocks07:11 EDT Gossamer Bio: LEDA Phase 2b study did not meet primary endpoint
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GOSS | Hot Stocks07:10 EDT Gossamer Bio: TITAN study did not meet primary, secondary endpoints
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VBLT | Hot Stocks07:09 EDT VBL Therapeutics appoints Marc Kozin as vice chairman - VBL Therapeutics announced that it has appointed Marc Kozin as Vice Chairman of the Board. Mr. Kozin will transition to becoming Chairman during 2021, at which time Bennett Shapiro, M.D., the current Chairman of the Board, will step down as Chairman. Dr. Shapiro will remain on the Board of Directors. Kozin is currently the Chairman of the Strategy Advisory Board of HealthCare Royalty Partners.
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IONS | Hot Stocks07:08 EDT Ionis Pharma's inhaled antisense medicine shows potential as treatment for CF - Ionis Pharmaceuticals announced that data from a clinical trial of IONIS-ENAC-2.5Rx demonstrated a significant decrease in the expression of epithelial sodium channel in subjects with cystic fibrosis. The study showed a mean 55.6% decrease in ENaC mRNA expression at the 75 mg dose in the multidose segment of the trial. The study represents the first time an antisense medicine delivered directly to the lung via a nebulizer has shown a significant reduction in ENaC messenger RNA levels. In preclinical studies, ENaC mRNA reductions of 40% or more resulted in significant improvement in mouse models of CF lung disease.
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COLD | Hot Stocks07:08 EDT Americold Realty Trust in pact to buy Agro Merchants in deal valued at $1.74B - Americold Realty Trust announced that it has entered into a definitive agreement to acquire privately held Agro Merchants Group from an investor group led by funds managed by Oaktree Capital Management for a total of $1.740B. The acquisition is subject to customary and regulatory closing conditions and closing is expected to occur late in the fourth quarter of 2020 or early in the first quarter of 2021. "Agro is the fourth largest temperature-controlled warehouse company globally, the third largest in Europe, and the fourth largest in the United States, and serves over 2,900 customers across a diverse spectrum of commodities. Agro's portfolio consists of 46 facilities, totaling 236 million refrigerated cubic feet, located in 10 countries and will be a strong complement to Americold's existing global network.," the company noted. The acquisition is valued at approximately $1.740B, consisting of $554.3M in Americold common shares, which will be subject to a lockup period until May 17, $519M in cash, repayment of approximately $560M of in-place Agro debt and assumption by us of approximately $110M of in-place Agro capital leases and sale leaseback financing obligations, off-set by any cash on hand net of debt-like items and working capital adjustments. Based on estimated 2020 adjusted results (including historical results through July), Americold underwrote the transaction assuming a net entry NOI yield of approximately 6.3% and an implied Adjusted EBITDA multiple of 22.3x, taking into account Agro's transformation and reorganization initiatives, corresponding cost savings, recent commercial enhancements and new business wins and the elimination of other non-recurring, one time charges. Americold expects the NOI yield to stabilize at 7.3% -8.3% by the end of year five after closing.
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TWST | Hot Stocks07:08 EDT Twist Bioscience, Neogene announce strategic partnership for T cell therapies - Twist Bioscience and Neogene Therapeutics announced a broad strategic partnership. The companies will leverage Neogene's proprietary expertise in targeting tumor neo-antigens, mutated proteins found in cancer cells due to cancer-associated DNA mutations, together with Twist's DNA synthesis platform and product lines to develop personalized chimeric antigen receptor, or CAR, T cell therapies and T cell receptor, or TCR, therapies for patients with cancer. Under the terms of the collaboration, Neogene and Twist will work together to develop novel tools for T cell therapies. Twist Biopharma, a division of Twist Bioscience, will create a specialized T cell receptor, or TCR, library for Neogene with the goal of discovering engineered TCRs against two specified T cell targets in cancer for future Neogene personalized T cell therapies. Twist Biopharma also will discover antibodies with specific function, affinity and specificity to two oncology targets for future Neogene CAR-T therapies. These antibodies will have single point specificity to their target providing the potential for novel CAR-T therapies against such targets. Twist will receive technology access fees as well as milestones and royalties based on key preclinical, clinical and commercial milestones for any antibodies and T cell receptors resulting from the collaboration. Neogene will have exclusive rights to the synthetic TCR library for targeting viral and neo-antigens in the field of oncology.
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QURE | Hot Stocks07:07 EDT uniQure enrolls two additional patients in Phase I/II trial of AMT-130 - uniQure announced that two additional patient procedures have been completed in the Phase I/II clinical trial of AMT-130 for the treatment of Huntington's disease. The ongoing patient enrollment follows a meeting last month of the trial's independent Data Safety Monitoring Board to review 90-day follow-up data from the first two patients. The DSMB observed no significant safety concerns to prevent further dosing. The Phase I/II study is a double-blinded, randomized and controlled clinical trial being conducted in the United States. A total of four patients have been enrolled in the study thus far, including two patients treated with AMT-130 and two patients who received imitation surgery. The Phase I/II clinical trial of AMT-130 for the treatment of Huntington's disease will explore the safety, tolerability, and efficacy signals in 26 patients with early manifest Huntington's disease randomized to treatment with AMT-130 or an imitation surgery across two dose cohorts. The multi-center trial consists of a blinded 12-month core study period followed by unblinded long-term follow-up for 5 years after administration of AMT-130. Patients will receive a single administration of AMT-130 through MRI-guided, convection-enhanced stereotactic neurosurgical delivery directly into the striatum.
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NBRV | Hot Stocks07:05 EDT Nabriva Therapeutics announces post-hoc analysis of LEAP 1, LEAP 2 trials - Nabriva Therapeutics announced that in a post-hoc analysis of the Lefamulin Evaluation Against Pneumonia 1 and LEAP 2 trials by age, XENLETA demonstrated consistently high efficacy and similar safety and tolerability profiles across all patient groups, including adults over 65 years of age who are at higher risk of morbidity and mortality from CABP. CABP is the most common cause of infectious death in U.S. adults age 65 and older. Results of the pooled analysis from the pivotal Phase 3 clinical trials of XENLETA will be presented at the virtual CHEST Annual Meeting, October 18-21, 2020. In this pooled analysis of 1289 patients from LEAP 1 and LEAP 2 by age group, including adults ages 18-64, 65-74, 75-84, and 85 and older, 40 percent of the overall pooled patient population was over 65 years of age. Compared to younger patients, patients 65 years of age and older had higher pneumonia severity scores and were more likely to have renal impairment, cardiac disease, hypertension, diabetes or asthma/COPD. The analysis showed that early clinical response and investigator assessment of clinical response at the Test of Cure for XENLETA were high and similar to that of moxifloxacin, a current standard of care fluoroquinolone for CABP, for all age groups. The adverse event profile and study drug discontinuation rates were similar across all age groups. XENLETA is a first-in-class systemic pleuromutilin antibiotic with a unique mechanism of action that attacks the difficult-to-treat pathogens in CABP and addresses the challenges of antibiotic resistance. It is approved by the FDA for the IV and oral treatment of CABP in adults.
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EVGN | Hot Stocks07:05 EDT Evogene's Biomica begins large-scale production of BMC128 - Biomica, a subsidiary of Evogene, announced the advancement to large-scale production of BMC128, its Live Bacterial Product candidate consortium. The microbes, which will be produced in large-scale are expected to support Biomica's first-in-man proof-of-concept clinical trials for its immuno-oncology program, anticipated to begin in 2021. BMC128 is advancing to the GMP production stage following the successful completion of the initial R&D stage of drug product development and manufacturing, conducted by Biose Industrie.
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GOSS | Hot Stocks07:04 EDT Gossamer Bio trading halted, news dissemination
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AXGT | Hot Stocks07:04 EDT Axovant receives Rare Pediatric Disease Designation for AXO-AAV-GM2 - Axovant Gene Therapies announced that it has received Rare Pediatric Disease Designation from the U.S. Food and Drug Administration for AXO-AAV-GM2, a one-time gene therapy delivered directly to the central nervous system that is in development for GM2 gangliosidosis, also known as Tay-Sachs and Sandhoff disease. In addition to the Rare Pediatric Disease designation, AXO-AAV-GM2 has Orphan Drug Designation and is the first gene therapy that has been administered to children with Tay-Sachs disease. Axovant expects to evaluate AXO-AAV-GM2 in a registrational clinical trial which consists of a Stage 1 dose-ranging study and a Stage 2 efficacy study. Previously, Axovant reported the first evidence for potential disease modification in Tay-Sachs disease from an expanded access study administering investigational AXO-AAV-GM2 gene therapy in two patients with infantile Tay-Sachs disease. AXO-AAV-GM2 was successfully administered in both patients and has been generally well-tolerated to date, with no serious adverse events or clinically relevant laboratory abnormalities related to therapy. GM2 gangliosidosis, also known as Tay-Sachs and Sandhoff disease, is a rare and fatal pediatric neurodegenerative lysosomal storage disorder resulting from deficiencies in beta-hexosaminidase, a key enzyme in the lysosome. These genetic defects lead to the toxic accumulation of gangliosides, resulting in neurodegeneration and life expectancy shortened to just two to four years of age.
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ACN... | Hot Stocks07:04 EDT Accenture, Takeda and Amazon enter into a strategic agreement - Takeda Pharmaceutical (TAK), Accenture (ACN) and Amazon (AMZN) Web Services have entered into a five-year strategic agreement to accelerate Takeda's digital transformation. "By combining the power of three organizations, Takeda is making a bold move to be at the intersection of human health, technology and business growth," said Christophe Weber, Takeda president and CEO. In addition, the Plasma-Derived Therapies Business Unit, which develops critical, life-saving and life-sustaining therapies for patients with rare and complex diseases, is creating state-of-the-art, digitally-connected donation centers and modernizing the donor experience, optimizing the plasma collection process. Takeda's plans to increase its plasma collection and manufacturing capacity by at least 65% by 2024 are geared towards expanding access to essential medicines and accelerating new treatments for patients.
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CTIC | Hot Stocks07:03 EDT CTI BioPharma initiates rolling submission of NDA to FDA for pacritinib - CTI BioPharma announced that it has commenced a rolling New Drug Application submission to the U.S. FDA seeking approval of pacritinib as a treatment for myelofibrosis patients with severe thrombocytopenia. CTI has previously announced the results of a recent Pre-NDA meeting with FDA where agreement was reached on an NDA submission package based upon available data from the completed Phase 3 PERSIST-1 and PERSIST-2, and the Phase 2 PAC203 trials. "Today we are pleased to announce the start of a rolling NDA submission that seeks to address the important unmet medical need of myelofibrosis patients with severe thrombocytopenia, a population that includes both front-line treatment-naive patients and patients with prior exposure to JAK2 inhibitors," said Adam R. Craig, M.D., Ph.D., President and Chief Executive Officer of CTI Biopharma. "We have started pre-commercial activities and are planning for a commercial launch in 2021, subject to priority review."
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EVLO | Hot Stocks07:03 EDT Evelo Biosciences treats first patient in Phase 2 trial of EDP1815 - Evelo Biosciences announced that it has dosed the first patients in its Phase 2 clinical trial evaluating EDP1815 for the treatment of mild to moderate psoriasis. EDP1815 is an investigational oral biologic in development for the treatment of inflammatory diseases including psoriasis, atopic dermatitis, and COVID-19. EDP1815-201 is a double-blind, placebo-controlled, dose-ranging Phase 2 trial designed to evaluate three doses of the enteric capsule formulation of EDP1815 versus placebo in 225 patients with mild to moderate psoriasis over a 16-week treatment period. The primary endpoint is mean reduction in Psoriasis Area and Severity Index score at 16 weeks. Key secondary endpoints include other clinical measures of disease such as Physician's Global Assessment, Body Surface Area, PGA x BSA, Psoriasis Symptom Inventory, Dermatology Life Quality Index, and Lesion Severity Score. Interim data from the study is expected by mid-2021.
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FLXN | Hot Stocks07:01 EDT Flexion sees Q3 sales of Zileretta $23.6M - Flexion Therapeutics announced preliminary ZILRETTA, or triamcinolone acetonide extended-release injectable suspension, net sales of $23.6M for the quarter ended September 30. "We are very pleased with our commercial performance in the Q3, which reflects strong quarter-over-quarter growth. While it remains impossible to fully predict how COVID-19 might impact our business over the coming months, it is highly encouraging to see sales that are more in line with our pre-pandemic expectations," said Michael Clayman, President and CEO. "Each year, healthcare providers administer approximately eight million intra-articular injections to help patients manage osteoarthritis knee pain. As clinicians gain more and more experience with ZILRETTA, we firmly believe it will come to be recognized as a best-in-class treatment option for those patients, and we will work tirelessly to achieve its full potential."
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IGT | Hot Stocks06:56 EDT International Game utilizes cashless solution at reopened casino in New York - International Game announced that the company is utilizing its Resort Wallet cashless solution at the newly reopened Resorts World Catskills Casino and Resort in Monticello, New York, a subsidiary of the Genting Group. Resort Wallet gives Resorts World Catskills patrons the option of a contactless, cashless gaming experience. Players can use their physical Resorts World Catskills Players Club card to load cash into a secure digital wallet from either the casino cashier or any slot machine and access those funds from any slot machine.
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JPM | Hot Stocks06:55 EDT JPMorgan extends suspension of repurchases through at least end of Q4
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QH | Hot Stocks06:54 EDT Quhuo to acquire 54.22% of Lalai for RMB133M - Quhuo announced that it has entered into a definitive investment agreement to acquire a 54.22% equity interest in Lailai Information Technology, an on-demand workforce platform that specializes in housekeeping solutions for hotels and B&Bs, for a total consideration of approximately RMB133.0M in the form of cash and the Company's securities in aggregate. According to the Agreement, the Company agreed to issue 1,357,759 Class A ordinary shares of the Company to the selling shareholders of Lailai under a private placement pursuant to an exemption or exclusion from the registration requirements under the Securities Act of 1933. The Consideration Shares will be subject to relevant restrictions on transfer. The Company has agreed to repurchase the Consideration Shares or pay the balance of the resale price if the resale price of the Consideration Shares falls below an indicative minimum price within a certain period after the transfer restrictions expire. The parties expect to close the transaction in October, subject to the relevant corporate approvals and customary closing conditions.
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FLR | Hot Stocks06:54 EDT Fluor's Stork awarded 3-year maintenance contract by NAM - Fluor announced that Stork, part of Fluor's Diversified Services segment, was awarded a three-year maintenance contract by NAM, a joint venture between Shell and Esso, in the Netherlands. Fluor booked the undisclosed contract value in the third quarter of 2020. Stork will provide all daily maintenance and rapid response services as well as deliver engineering, project and turnaround-related services for the three NAM onshore production areas including all greenfield and brownfield projects in the Netherlands.
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PRMW | Hot Stocks06:54 EDT Primo Water subsidiary acquires Mountain Valley Water Company of Los Angeles - Primo Water announced that Primo Water, a wholly-owned subsidiary of Primo, has acquired substantially all of the assets of Mountain Valley Water Company of Los Angeles, or MVLA. MVLA has been a provider of water delivery services to homes and offices in the Los Angeles area since its founding in 1983, and is the largest distributor of Mountain Valley in the U.S. The acquisition will add over 8,000 customers to Primo NA, increasing its footprint in southern California. Customers of MVLA will continue to be offered Mountain Valley Spring Water and can also now enjoy Sparkletts, the Primo water brand in the region, and have the ability to select additional products for their orders, including coffee and tea, sparkling water beverages from Sparkling Ice as well as other water products.
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LEU | Hot Stocks06:52 EDT Centrus Energy, Terrestrial Energy sign MOU to secure fuel for IMSR power plants - Terrestrial Energy and Centrus Energy have signed a memorandum of understanding, or MOU, to secure fuel supply for a future fleet of integral molten salt reactor, or IMSR, power plants. The two companies will evaluate the logistical, regulatory, and transportation requirements to establish fuel supply for integral molten salt reactor, or IMSR, power plants, which use standard-assay low-enriched uranium, or LEU. Standard-assay LEU has an enrichment level less than 5% uranium-235 and is the current industry standard for commercial nuclear plants in the United States and worldwide. While employing Generation IV technology, IMSR power plants are designed to use standard-assay LEU fuel. Centrus Energy is a supplier of nuclear fuel and services to the nuclear power industry. In addition to uranium enrichment and standard-assay LEU supply, Centrus Energy has expertise in the design and licensing of packaging for nuclear fuel transportation. As part of a program to establish a supply chain for IMSR fuel, the companies will study the regulatory requirements for transportation from the fuel fabrication facility to the plant. They will also evaluate packaging options for fuel shipment.
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JPM | Hot Stocks06:51 EDT JPMorgan reports AUM of $2.6T, up 16%
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JPM | Hot Stocks06:51 EDT JPMorgan CEO says 'we further strengthened our capital and liquidity position' - Jamie Dimon, Chairman and CEO, commented on the financial results: "JPMorgan Chase earned $9.4 billion of net income on nearly $30 billion of revenue and we maintained our credit reserves at $34 billion given significant economic uncertainty and a broad range of potential outcomes. We further strengthened our capital and liquidity position, increasing CET1 capital to $198 billion (13.0% CET1 ratio, up 60 basis points after paying the dividend) and liquidity sources to $1.3 trillion. The Corporate & Investment Bank continues to be a big driver of Firm performance with Markets revenue up 30% and Global IB fees up 9%. CIB and Commercial Banking continue to attract and retain deposits given our strong client franchise as our clients remain liquid. Asset & Wealth Management generated record revenue and net income and saw strong net inflows into long-term products." Dimon added: "In Consumer & Community Banking, we continue to add deposits, up 28% versus last year - and based on the most recent FDIC data we ranked #1 in U.S. retail deposits for the first time ever as we are investing in the business to better serve our customers' needs. The Firm recently received approval to open branches in 10 additional states which would allow us to operate branches in all of the lower 48 U.S. states. Home Lending benefited from strong production margins, and combined debit and credit card spend showed positive year-over-year growth in September for the first time since the widespread shutdowns." Dimon concluded: "I want to thank our employees around the world for their tireless work in helping our clients and communities impacted by the COVID-19 pandemic over the past several months. Despite significant uncertainty in the environment, the Firm is unwavering in its commitment to drive an inclusive economic recovery, advance sustainable solutions to address climate change and improve the lives of our customers, especially those in underserved communities."
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JPM | Hot Stocks06:49 EDT JPMorgan reports Q3 provision for credit losses $611M
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JPM | Hot Stocks06:49 EDT JPMorgan reports Q3 average loans up 1%, average deposits up 30%
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JPM | Hot Stocks06:48 EDT JPMorgan reports Q3 ROE 15%, ROTCE 19%
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EGO | Hot Stocks06:46 EDT Eldorado Gold reports Q3 preliminary production of 136,672 ounces of gold - Eldorado Gold is pleased to announce Q3 preliminary production of 136,672 ounces of gold, a 35% increase over Q3 2019. Gold production at Kisladag increased 66% over Q3 2019 and was consistent with Q2 2020. Gold recoveries continue to be as expected and solution grades increased over the summer due to drier weather. Production for 2020 remains slightly below expectations as solution inventories remain higher than normal. We expect to see continued benefit from drawing the solution inventory down through the balance of 2020 and into 2021. Budgeted improvements are being made in the solution processing plant to further increase capacity and are expected to start coming online in Q1 2021. Lamaque had record gold production in Q3 2020. Production was higher compared to Q3 2019 and Q2 2020 due to an increase in tonnes mined per day that was enabled by the revised Certificate of Authorization from the Quebec Ministry of Environment. Additionally, for the month of September, underground development moved into higher grade ore at the top of the C4 zone which had a positive impact on ounces produced. Gold production at Efemcukuru for Q3 2020 was slightly lower than Q3 2019 and Q2 2020 due to lower grades processed during the quarter compared to comparative quarters. Gold production at Olympias increased 75% over Q3 2019 as a result of investments in mine development, equipment, resources, and backfilling capacity that have improved productivity over the last year. Gold production in Q3 2020 was lower than Q2 2020 due to lower than average head grades. Throughput was lower in September 2020 due to COVID-19 protocols that were activated at site, including testing and contact tracing. The operation resumed normal levels of throughput by the end of September.
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GMAB... | Hot Stocks06:46 EDT Genmab announces Q3 sales of Darzalex were $1.099B - Genmab (GMAB) announced that worldwide net trade sales of DARZALEX, or daratumumab, including sales of the subcutaneous formulation, as reported by Johnson & Johnson (JNJ) were $1.099B in the Q3. Net trade sales were $85M in the U.S. and $514M in the rest of the world. Genmab receives royalties on the worldwide net sales of DARZALEX and DARZALEX FASPRO under the exclusive worldwide license to Janssen Biotech, to develop, manufacture and commercialize daratumumab. As previously announced, Janssen has started reducing its royalty payments to Genmab by what it claims to be Genmab's share of Janssen's royalty payments to Halozyme, (HALO) company announcement No. 39 of September 22.
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CSCW | Hot Stocks06:40 EDT Color Star Technology developing musical festival series - Color Star Technology announced that it plans to launch "Color World"-branded offline music festival series, furthering the company's aspirations to build "Color World" into a leading entertainment-centric paid knowledge services platform which connects musicians, artists and celebrities with its growing bases of fans, followers and users. The company is currently in discussion with multiple music festival brands to co-organize up to 30 music festivals with different genres over the next five years in different cities across Asia and beyond.
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OVV | Hot Stocks06:38 EDT Ovintiv announces start-up of Pipestone Processing Facility - Ovintiv announced the start-up of the Pipestone Processing Facility, or PPF, a natural gas processing and liquids stabilization plant supporting the company's high-return, condensate-rich Montney development. Ovintiv managed the PPF's design and construction and delivered its start-up more than five months ahead of its original schedule and at budgeted costs. The start-up of the PPF provides Ovintiv with additional net processing capacity of approximately 170 MMcf/d of natural gas and 19,000 bbls/d of liquids, primarily condensate. The start-up of the PPF required no new drilling to satisfy new capacity arrangements. The facility allows Ovintiv to maximize its existing volumes and optimize midstream fees by routing production to gathering systems with lower line pressures, as well as the capacity to grow its Pipestone Montney resources. The PPF, which is owned by Keyera Partnership, a subsidiary of Keyera, provides Ovintiv with processing under a "fee-for-service" midstream agreement. Ovintiv has employed this development model in other recent midstream expansions. These agreements provide increased financial flexibility with a limited financial obligation of a revenue guarantee on a fraction of its initial capacity rights.
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NGD | Hot Stocks06:34 EDT New Gold reports record 27,000 tonnes per day milled in September - New Gold reports Q3 operational results for the Company as of September 30 and reaffirms annual production guidance. Mine operations ramped up towards the 2021 target capacity of approximately 150,000 tonnes per day and the mill delivered a record of 27,000 tonnes per day, reaching the maximum monthly average throughput allowable under the existing mill permit. With both the mine and mill operating at capacity, the Company's efforts will now shift to focus on identifying additional opportunities to further optimize mine and mill productivities and unit cost performance. Total production for the third quarter was 115,536 gold equivalent ounces on track to achieve revised annual production guidance. The Rainy River Mine produced 64,221 gold eq. ounces for the quarter, on track to achieve the mid-range of revised annual production guidance. The New Afton Mine produced 51,315 gold eq. ounces for the quarter, on track to achieve the mid-range of revised annual production guidance. "We are very pleased with the results from the Rainy River Mine as the operations met, or exceeded, target levels. Supported by the strong operational performance delivered in the quarter and with all deferred site construction capital substantially complete, the operation is well positioned to deliver on its life of mine plan that includes strong production growth at lower costs along with a significant and corresponding reduction in capital requirements." stated Renaud Adams, CEO.
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BW | Hot Stocks06:32 EDT Babcock & Wilcox Renewable announces partnership with Eos Energy Storage - Babcock & Wilcox, through its B&W Renewable segment, has signed a strategic partnership agreement with Eos Energy Storage to sell and service Eos' innovative, patented Eos Znyth zinc battery solution for industrial and utility-scale energy storage. Under this agreement, B&W subsidiary The Babcock & Wilcox Company will market and sell this pioneering battery technology to its customers worldwide and B&W subsidiary Babcock & Wilcox Construction Co. will serve as Eos' exclusive preferred installation provider for the technology in the U.S. and Canada. Under the agreement, B&W will market the Znyth zinc battery storage solution to its global customer base, including industrial customers such as refineries and pulp and paper plants, as well as utility and power customers. In addition, B&W will immediately begin collaborating with Eos on installation, commissioning and maintenance scope for projects in Eos' robust pipeline.
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BLK | Hot Stocks06:20 EDT BlackRock CEO: Our diverse platform saw inflows across all asset classes - Laurence Fink, Chairman and CEO said: "As investors around the world navigate current uncertainty, including the pandemic and uneven economic recovery, BlackRock is serving clients' needs with global insights, strategic advice and whole-portfolio solutions. We purposefully built the most comprehensive, fully-integrated, investment and risk management technology platform in the industry to deepen partnerships with clients as we help them achieve their longterm goals. BlackRock generated $129 billion of total net inflows in the third quarter, representing 9% annualized organic base fee growth. Our diverse platform saw inflows across all asset classes, investment styles and regions. Notably, more than 50% of longterm flows were driven by clients in Europe and Asia. Our results are a validation of our globally integrated asset management and technology business model, which allows us to consistently invest and evolve ahead of client needs. Each of our strategic investment areas, including iShares ETFs, alternatives and technology, continue to grow, while strong investment performance has driven positive active flows over the last year. And as clients look to integrate ESG into their portfolios, BlackRock is uniquely positioned with industry-leading sustainability research, investment strategies and technology. We are humbled by the trust our clients place in us, grateful for the dedication of our employees and committed to operating at the highest standards for all of our stakeholders."
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BLK | Hot Stocks06:18 EDT BlackRock reports Q3 quarterly net inflows $129B - Reports $129B of quarterly total net inflows, led by continued momentum in fixed income and cash management, with positive flows across all regions, investment styles and product types.
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BLK | Hot Stocks06:17 EDT BlackRock reports Q3 AUM $7.81T, up 12% y/y
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DVAX | Hot Stocks06:05 EDT MVC, Dynavax report Taiwan government subsidy for COVID-19 vaccine with CpG 1018 - Medigen Vaccine Biologics, or MVC, and Dynavax announced that MVC has obtained a Taiwan government subsidy for successfully initiating a Phase 1 clinical trial in Taiwan. The first participant in MVC's Phase 1 clinical trial was dosed with MVC's COVID-19 vaccine combined with Dynavax's CpG 1018 adjuvant at National Taiwan University Hospital in early October. The subsidy will be released at agreed upon milestones in the total amount of up to $16.4M. The grant received by MVC was earmarked by the Taiwan government for purposes of research and development of a locally produced COVID-19 vaccine. MVC's Phase 1 study is an open-label, single-center, staggered dose-escalation study intended to assess the safety and immunogenicity of the stable prefusion form of SARS-CoV-2 recombinant spike protein S-2P at three dose levels adjuvanted with CpG 1018 plus alum, in approximately 45 healthy subjects 20 to 50 years of age. The vaccination schedule consists of two doses for each study participant, administered via intramuscular injection 28 days apart, on Day 1 and Day 29.
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MAXR | Hot Stocks06:02 EDT Esri extends contract with Maxar Technologies - Maxar Technologies announced that its longtime partner Esri has signed a multi-million dollar contract extension to continue licensing data for the ArcGIS Living Atlas of the World through 2023. This expanded agreement ensures access to Maxar imagery by the millions of ArcGIS users worldwide. It also provides expanded rights to empower the growing community of Esri developers focused on commercial location-based applications to integrate Maxar imagery products for the first time. Esri recently named Maxar a 2020 Cornerstone Partner
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INZY | Hot Stocks06:02 EDT Inozyme names Yves Sabbagh, Ph.D., as Chief Scientific Officer - Inozyme Pharma announced the appointment of Yves Sabbagh, Ph.D., as senior vice president and chief scientific officer, and the retirement of David Thompson, Ph.D., Inozyme's former chief scientific officer. Dr. Sabbagh brings to Inozyme more than 20 years of experience in rare genetic disorders and mineral metabolism with responsibilities leading to the identification and evaluation of novel therapeutic approaches and translating them into clinical candidates. Dr. Sabbagh will be responsible for expanding Inozyme's proprietary pipeline by identifying and developing new therapeutics for monogenic and non-genetic diseases of abnormal mineralization.
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FAMI | Hot Stocks06:02 EDT Farmmi subsidiary receives follow-on order for export to Canada - Farmmi announced its subsidiary Zhejiang Forest Food has received a follow-on customer order for its dried whole and sliced mushrooms, and dried black fungus. The customer, a trading company supplying to global hotel and supermarket chains, including the Stanford hotel chain and the H-Mart supermarket chain, will export our products to Canada.
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MESO | Hot Stocks06:01 EDT Mesoblast: Phase 3 trial of remestemcel-L surpasses 50% enrollment - Mesoblast announced that the randomized controlled Phase 3 trial of remestemcel-L on top of maximal care in ventilator-dependent patients with acute respiratory distress syndrome due to COVID-19 infection has surpassed 50% enrollment. The trial's primary endpoint is reduction in 30-day mortality relative to maximal care. ARDS continues to be the primary cause of death in COVID-19 patients. Mesoblast Chief Medical Officer Dr Fred Grossman said: "There is an urgent need for targeted treatments to reduce the continued high mortality in COVID-19 ARDS patients who are dependent on mechanical ventilators. We expect to complete the enrollment target in this important trial by the end of the year as the enrollment rate continues to increase in line with the surge in new infections across the United States."
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RDFN | Hot Stocks05:36 EDT Redfin reports U.S. luxury home sales increased 41.5% in Q3 - U.S. luxury home sales increased 41.5% year over year in Q3, according to a new report from Redfin. That's the largest jump since at least 2013, when Redfin began recording this data. Meanwhile, sales of medium-priced homes climbed just 3%, and sales of affordable homes declined 4.2%, underscoring the coronavirus pandemic's impact on Americans with lower levels of wealth. A handful of West Coast metro areas fueled the surge in luxury home sales during Q3. In Sacramento, luxury sales increased 86.1% from a year earlier, more than any other major metro. Rounding out the top three were Riverside, California and Oakland, California, up 62.8% and 60.9%, respectively.
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NOK | Hot Stocks05:32 EDT Nokia to provide Chunghwa Telecom with products to support 5G coverage - Nokia announced that it will provide Taiwanese mobile operator, Chunghwa Telecom, or CHT, with a range of products from its small cells portfolio to support CHT's initiative to deliver 5G coverage. CHT is the first operator in Taiwan to deploy a 5G non-standalone, or NSA, small cells solution enabling instant 5G coverage in specific areas such as business as well as tourist districts. Nokia has already commenced deployment and has installed 140 5G small cells to date. Nokia has been a partner of CHT, since the 2G era. The deal will see Nokia supply CHT with its AirScale indoor Radio, or ASiR, solution for indoor coverage and capacity, as well as its AirScale micro RRH for outdoor and urban hot spots. These will be deployed to complement the existing base of over 2,500 sets of 4G small cells. CHT is working closely with local small to medium-size enterprises to provide secure 5G coverage to enable industry 4.0 automation.
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BDRBF | Hot Stocks05:28 EDT Bombardier, Jetex partner on FBO experience to Singapore - Bombardier and Jetex have joined forces to establish a fixed-base operator, or FBO, experience in Singapore, the two companies announced. Bombardier is in the midst of expanding capabilities and hangar space at its Singapore Service Centre at Seletar Aerospace Park in an effort to transform this facility into a high-capacity center, offering customers a gamut of services required throughout an aircraft's life. Part of this expansion is the introduction of Jetex's FBO and ground handling systems to provide operators and passengers with service from arrival to departure. Singapore becomes Jetex's fourth destination in Asia-Pacific after Tokyo and Osaka.
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BR | Hot Stocks05:25 EDT Broadridge selected by Britannia Global for post-trade securities options - Broadridge announced that Britannia Global Markets, a brokerage house and subsidiary of Britannia Financial Group, has selected Broadridge to streamline its post-trade processing for its international securities business including cash equities, fixed income and repurchase agreements. Broadridge's solution will provide Britannia Global Markets with a strategic, multi-market platform with the scale to support growth and respond to regulatory requirements. It will be deployed as a SaaS-based solution that enables the firm to benefit from a service that mitigates risk and underpins a superior client service.
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AUY | Hot Stocks05:22 EDT Yamana Gold admitted to trade on London Stock Exchange - Yamana Gold announced that the company's common shares will be admitted to the standard listing segment of the official list on the London Stock Exchange's main market for listed securities and the company's shares will trade under the ticker (AUY).
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REGN SNY | Hot Stocks05:16 EDT Regeneron, Sanofi announce Dupixent trial met primary and secondary endpoints - Regeneron (REGN) and Sanofi (SNY) announced that a pivotal Phase 3 trial of Dupixent met its primary and all key secondary endpoints in children aged six to 11 years with uncontrolled moderate-to-severe asthma. In a broad type 2 inflammatory asthma patient population, defined as having elevated eosinophils, or EOS, or elevated fractional exhaled nitric oxide, or FeNO, Dupixent added to standard of care significantly reduced asthma attacks and improved lung function as early as two weeks after the first dose, compared to standard of care alone. More than 90% of children in the trial had at least one concurrent type 2 inflammatory condition including atopic dermatitis and eosinophilic esophagitis. Safety results from the trial were generally consistent with the known safety profile of Dupixent in patients aged 12 years and older with moderate-to-severe asthma. The primary endpoint assessed the annualized rate of severe asthma attacks in two primary pre-specified populations: patients with baseline blood EOS greater than or equal to300 cells/mul and patients with markers of type 2 inflammation. Across these two patient groups respectively, those who added Dupixent to standard of care experienced: Reduced rate of severe asthma attacks, with a 65% and 59% average reduction over one year compared to placebo (0.24 and 0.31 events per year for Dupixent vs. 0.67 and 0.75 for placebo, respectively). Improved lung function at 12 weeks compared to baseline by 10.15 and 10.53 percentage points for Dupixent vs. 4.83 and 5.32 percentage points for placebo, respectively, as measured by percent predicted FEV1, or FEV1pp. This is a common endpoint in pediatric asthma trials to evaluate a patient's change in lung function compared to their predicted lung function based on a number of factors including age, height and sex, to account for children's growing lung capacity at different stages of development. This clinically meaningful improvement in lung function was observed as early as two weeks and was sustained for up to 52 weeks. The safety results from the trial were generally consistent with the known safety profile of Dupixent in patients aged 12 years and older with moderate-to-severe asthma. Over one year, overall rates of adverse events were 83% for Dupixent and 80% for placebo. Adverse events that were most commonly observed with Dupixent versus placebo included injection site reactions, viral upper respiratory tract infections and eosinophilia. Dupixent is a fully-human monoclonal antibody that inhibits the signaling of the interleukin-4, or IL-4, and interleukin-13, or IL-13, proteins, that was invented using Regeneron's proprietary VelocImmune technology. Data from Dupixent clinical trials have shown that IL-4 and IL-13 are key drivers of the type 2 inflammation that plays a major role in asthma, chronic rhinosinusitis with nasal polyposis, atopic dermatitis and eosinophilic esophagitis.
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BABA AAWW | Hot Stocks05:10 EDT Cainiao partners with Atlas Air to launch Asia to South America charter program - Cainiao, the logistics arm of Alibaba (BABA), announced a partnership to launch a charter program with Atlas Air (AAWW) to enhance Alibaba's logistics network as cross-border trade between China and Latin America continues to expand. Cainiao's parcel volume to South America reached over 8M packages in Q3, double the number transported during Q2. Beginning in November, Atlas Air will operate three weekly charter flights dedicated to Cainiao, linking China with Brazil and Chile, reducing the overall shipping time from a week to three days on average. As previously announced by Cainiao, the company is committed to facilitating international trade by improving overall supply chain efficiency and launching direct routes to major regions across the globe. Cainiao is expected to operate about 1,300 chartered flights by the end of 2020.
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PCG | Hot Stocks05:07 EDT PG&E notifies customers in 21 counties of potential public safety power shutoff - PG&E has notified customers in targeted portions of 21 counties about a potential public safety power shutoff, or PSPS, as early as Wednesday afternoon. Hot and dry conditions combined with expected high wind gusts pose an increased risk for damage to the electric system that has the potential to ignite fires in areas with dry vegetation. High fire-risk conditions are expected to arrive Wednesday evening. High winds are currently expected to subside Thursday morning in some locations and Friday morning in other locations. PG&E will then inspect the de-energized lines to ensure they were not damaged during the wind event. PG&E will safely restore power as quickly as possible, with the goal of restoring most customers within 12 daylight hours, based on current weather conditions.
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JNJ | Hot Stocks04:44 EDT J&J pauses COVID vaccine trials due to patient's 'unexplained illness' - Johnson & Johnson said last night in a statement: "We have temporarily paused further dosing in all our COVID-19 vaccine candidate clinical trials, including the Phase 3 ENSEMBLE trial, due to an unexplained illness in a study participant. Following our guidelines, the participant's illness is being reviewed and evaluated by the ENSEMBLE independent Data Safety Monitoring Board as well as our internal clinical and safety physicians...We must respect this participant's privacy. We're also learning more about this participant's illness, and it's important to have all the facts before we share additional information. SAEs are not uncommon in clinical trials, and the number of SAEs can reasonably be expected to increase in trials involving large numbers of participants. Further, as many trials are placebo-controlled, it is not always immediately apparent whether a participant received a study treatment or a placebo...A study pause, in which recruitment or dosing is paused by the study sponsor, is a standard component of a clinical trial protocol. As noted in the ENSEMBLE study protocol, Johnson & Johnson has robust mechanisms in place to protect the safety of participants in its clinical trials. While the Company informs all study investigators, we typically do not communicate study pauses publicly." Shares of Johnson & Johnson are down 2.4% to $148.19 in premarket trading. Reference Link
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