Stockwinners Market Radar for January 15, 2021 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:35 EST REV Group CFO buys 15K shares of common stock - In a regulatory filing, REV Group disclosed that is CFO Mark Skonieczny bought 15K shares of common stock on January 13th in a total transaction size of $136.4K, boosting his stake by about 9%.

17:29 EST Hilltop Holdings to replace Yeti in S&P 600 at open on 1/21 - Hilltop Holdings (HTH) will replace YETI Holdings (YETI) in the S&P SmallCap 600 as Yeti is replacing Trimble (TRMB) in the S&P MidCap 400.

17:25 EST Trimble to replace Concho Resources in S&P 500 at open on 1/21 - S&P MidCap 400 constituent Trimble (TRMB) will replace Concho Resources (CXO) in the S&P 500 effective prior to the opening of trading on Thursday, January 21. ConocoPhillips' (COP) acquisition of Concho Resources has just been completed.

17:24 EST Berkshire Hathaway reports 24.9% passive stake in E.W. Scripps - Berkshire Hathaway disclosed a 24.9% stake in E.W. Scripps , which represents over 23M shares. The filing does not allow for activism.

17:12 EST iRobot CEO sells 11.4K shares of common stock - In a regulatory filing, iRobot disclosed that its CEO Colin Angle sold 11.4K shares of common stock on January 13th in a total transaction size of $1.0M, reducing his stake by about 3%.

17:10 EST Huntington Ingalls awarded $174.91M Navy contract - Huntington Ingalls was awarded a $174.91M cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract to provide Navy aircraft carrier Elevator Support Unit maintenance and repair. Work will be performed aboard Navy CVNs within the continental U.S.; outside the continental U.S.; and forward deployed locations according to individual task orders, and is expected to be completed by January 2026. No funds will be obligated at the time of award. Funding will be obligated on individual orders as they are issued. This contract was competitively procured and solicited via the beta.SAM.gov website. The Naval Sea Systems Command is the contracting activity.

17:08 EST Dycom COO sells 52K shares of common stock - In a regulatory filing, Dycom disclosed that its COO Timothy Estes sold 52K shares of common stock on January 13th in a total transaction size of $4.47M, reducing his stake by about 33%.

16:57 EST Delta Air Lines to get $2.9B in payroll support payments - In a regulatory filing, the company states: "On January 15, 2021, Delta Air Lines entered into a Payroll Support Program Extension Agreement with the United States Department of the Treasury. Pursuant to the PSP Extension Agreement, Delta expects to receive $2.9B in payroll support payments, which must be used exclusively for the continuation of payment of employee wages, salaries and benefits. The payroll support payments are also conditioned on, among other things, Delta's agreement to continue essential air service as directed by the U.S. Department of Transportation until March 1, 2022, certain limitations on executive compensation until October 1, 2022, and prohibitions on share repurchases and dividends through March 31, 2022. In addition, the PSP Extension Agreement prohibits Delta from conducting involuntary layoffs or furloughs of U.S. employees through March 31, 2021. The relief payments consist of approximately $2.0B in grants and $830M in an unsecured 10-year loan. Delta received the first installment of $1.4B under the agreement on January 15, 2021 and expects to receive the balance in the March quarter."

16:37 EST Zymeworks announces new, updated zanidatamab data at ASCO - Zymeworks announced new and updated clinical data for the HER2-targeted bispecific antibody zanidatamab, in both HER2-expressing biliary tract cancer, or BTC, and gastroesophageal adenocarcinoma, or GEA. The data are being presented at the American Society of Clinical Oncology, or ASCO, Gastrointestinal Cancers Symposium, taking place virtually January 15-17. HER2 is overexpressed in approximately 20% of GEA patients. For these patients, trastuzumab in combination with chemotherapy is the only approved HER2-targeted therapy. Treatment options are currently limited if disease progression occurs after trastuzumab in combination with chemotherapy. Findings from an ongoing Phase 1 study of zanidatamab in HER2-positive GEA were last presented in July 2020. The data being reported are from HER2-expressing GEA patients who received zanidatamab either as monotherapy or in combination with chemotherapies. The groups had a median of two to three prior therapies, with a high percentage having received prior HER2-targeted therapies. The data continue to demonstrate that zanidatamab is well tolerated with the majority of treatment-related AEs considered mild to moderate in severity and manageable in the outpatient setting. In 33 response-evaluable patients who received zanidatamab as monotherapy, the objective response rate, or ORR, was 39%, 11 of which were confirmed by a subsequent scan. The disease control rate, or DCR, was 61% and median duration of response (DOR) was six months. In 10 response-evaluable patients who received zanidatamab plus paclitaxel, the ORR was 60%, five of which were confirmed by a subsequent scan including one patient who experienced a complete response. The DCR was 90% (9/10) for this group. In 14 response-evaluable patients who received zanidatamab plus capecitabine, the confirmed ORR was 57% and the DCR was 71%. Overall the median DOR for zanidatamab plus chemotherapy was 8.9 months and the median progression-free survival, or PFS, was 5.6 months with eight patients still on study at the time of data cut-off. Zanidatamab in HER2-positive biliary tract cancers: Results from a Phase 1 study. Findings from the ongoing Phase 1 study of zanidatamab in HER2-amplified BTC were last shared in July 2020. The updated and new results are being presented in a poster session at the ASCO Gastrointestinal Cancers Symposium. Data were reported on 21 patients diagnosed with HER2-amplified BTC who received zanidatamab at the recommended dose of 20 mg/kg every two weeks. Patients received a median of two prior therapies and five of the patients were previously treated with the HER2-targeted therapy trastuzumab. Zanidatamab was well tolerated and demonstrated durable antitumor activity in these patients. All zanidatamab-related adverse events, or AEs, were mild or moderate in severity. The confirmed ORR, in trastuzumab-naive patients was 47% and overall ORR was 40%. The overall disease control rate, or DCR, was 65% and median duration of response, or DOR, was 7.4 months with several patients still on study at the time of data cut-off. Zymeworks is presenting a trial in progress poster at ASCO GI for a global pivotal Phase 2 trial in HER2-amplified BTC. Multiple clinical sites are now open to enrollment in the U.S., South Korea, Italy and Spain, with additional sites planned in Canada, Chile, China, France and the UK. This study is designed to support accelerated approval based on a primary endpoint of objective response rate, and key secondary endpoints of duration of response and safety.

16:31 EST SkyWest to receive $233M through Payroll Support Program extension - SkyWest announced that its wholly-owned subsidiary SkyWest Airlines has entered into a Payroll Support Program Extension Agreement with the U.S. Treasury Department to receive a total of approximately $233M under the Consolidated Appropriations Act of 2021. SkyWest received half of the $233M and expects to receive the second half in February 2021. In consideration for the funding, approximately $40Mwill be in the form of a ten-year, low interest unsecured term loan, and SkyWest will issue to the U.S. Treasury Department warrants to purchase approximately 98,815 shares of SkyWest common stock at a strike price of $40.41. The funds received under this Payroll Support Program will be used to pay for the wages, salaries and benefits of thousands of SkyWest Airlines employees. This Program includes certain restrictions similar to the original Payroll Support Program, including limitations on involuntary terminations and furloughs through March 31, 2021, restrictions on the payment of dividends and the repurchase of shares through March 31, 2022, the recall of involuntarily terminated or furloughed employees after Sept. 30 with pay from Dec. 1, 2020 to March 31, 2021, and certain limitations on executive compensation through October 1, 2022.

15:38 EST Total opts not to renew API membership for 2021 - Following a detailed analysis of the climate positions of the American Petroleum Institute, France's Total announced its decision not to renew its membership for 2021. Following the 2019 and 2020 reviews, API's positions were assessed as "partially aligned" with those of the Group. Certain divergences, which have been discussed within the association, remain today: regarding the role of natural gas, API maintains its support for the rollback of U.S. regulation on methane emissions, which the Group opposed in November 2019; regarding transport decarbonization, API is part of the Transportation Fairness Alliance, which is opposed to subsidies for electric vehicles; regarding the carbon pricing principle, API expresses differing positions to those of Total. Moreover, API gave its support during the recent elections to candidates who argued against the United States' participation in the Paris Agreement.

15:35 EST California AG sues Education Department over for-profit collegerule easing - California Attorney General Xavier Becerra announced a lawsuit against Acting U.S. Secretary of Education Mitchell Zais and the U.S. Department of Education over the agency's effort to "ease oversight and accountability on for-profit colleges at the expense of students and taxpayers." The Department of Education's recently finalized "Distance Education and Innovation" regulations "allow colleges to bypass requirements set out in the Higher Education Act intended to prevent federal Title IV funds, including federal student loans and Pell grants, from going to low-quality educational programs and predatory for-profit institutions," Becerra said in a statement. For-profit schools can now outsource 100% of a program's instruction to a different school, he says. In November 2017, Becerra sued Ashford University and its parent company Bridgepoint Education, now called Zovio (ZVO), for "illegal marketing and collections activity, among other abuses." That lawsuit is pending before San Diego County Superior Court. In June 2018, Becerra filed a lawsuit against Navient (NAVI) and its subsidiaries "for unlawfully misleading student loan borrowers, engaging in illegal collections practices, and steering borrowers to more costly repayment options." Publicly traded companies in the for-profit education space include Adtalem Global Education (ATGE), American Public Education (APEI), Grand Canyon (LOPE) and Strategic Education (STRA).

14:49 EST Accenture reports acquisition of 'cloud native' agile development company Wolox - Accenture announced it has acquired Wolox, an Argentinean "cloud native and agile development company that provides digital solutions to help clients achieve successful business outcomes." Karthik Narain, global lead for Accenture Cloud First, said: "The acquisition of Wolox brings differentiated skills to Accenture, as the team uniquely blends cloud native development with design and state-of-the-art technologies for business transformation. Wolox has multidisciplinary teams of industry and business experts, UX/UI designers, software designers, architects and engineers and, together, we're now more equipped to help clients tap into the technology expertise and human ingenuity that powers how Accenture innovates."

14:21 EST Genmab says Janssen granted FDA approval for Darzalez Faspro - Genmab (GMAB) announced that the U.S. Food and Drug Administration has approved the use of DARZALEX FASPRO, a subcutaneous formulation of daratumumab, in combination with bortezomib, cyclophosphamide, and dexamethasone for the treatment of adult patients with newly diagnosed light-chain amyloidosis. A supplemental Biologics License Application for this indication was submitted by Janssen Biotech, Inc. (JNJ), in September 2020. The U.S. FDA reviewed the submission of data for approval in this indication under their Real-Time Oncology Review pilot program and Project Orbis. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trials. DARZALEX FASPRO is not indicated and is not recommended for the treatment of patients with light-chain amyloidosis who have NYHA Class IIIB or Class IV cardiac disease or Mayo Stage IIIB outside of controlled clinical trials. In August 2012, Genmab granted Janssen an exclusive worldwide license to develop, manufacture and commercialize daratumumab.

14:07 EST W.R. Grace responds to 40 North, says 'willing to discuss a sale' - W. R. Grace & Co. announced that it has sent a letter to 40 North Management in response to 40 North's January 11, 2021 revised unsolicited proposal to acquire Grace for $65 per share in cash, which stated in part: "Our Board of Directors has met and discussed your revised proposal. We are willing to discuss a sale of Grace to 40 North in the context of our ongoing review of strategic alternatives. Any transaction would need to be at a price level that reflects the full value of Grace for its shareholders. Grace's opportunities for continued growth and value creation are strong, particularly as our end markets recover from the disproportionate displacement resulting from the COVID-19 pandemic. As we disclosed when we announced our third quarter 2020 results, we have experienced a rapid recovery from the pandemic and expect fourth quarter 2020 sales and gross margin to approach pre-pandemic levels, with adjusted free cash flow nearing 2019 levels as well. Based on our recent growth investments and operating plan, we are confident in our robust opportunities for continued growth and high profitability. Grace is well positioned to emerge from this crisis even more successful than before. Grace's market-leading positions, advanced technologies, value-selling capabilities, and capital allocation discipline underpin our confidence in the Company's ability to generate substantial value as a standalone company or in a business combination. As a next step, we would be willing to share with you, under customary and appropriate confidentiality arrangements, information that would support a full valuation of Grace. We are prepared to move quickly to provide you with a draft confidentiality agreement, if you are interested."

13:58 EST W R Grace and Co trading halted, news pending

13:11 EST Baker Hughes reports U.S. rig count up 13 to 373 rigs - Baker Hughes reports that the U.S. rig count is up 13 from last week to 373 with oil rigs up 12 to 287, gas rigs up 1 to 85, and miscellaneous rigs unchanged at 1. The U.S. Rig Count is down 423 rigs from last year's count of 796, with oil rigs down 386, gas rigs down 35 and miscellaneous rigs down 2. The U.S. Offshore Rig Count is down 1 to 16, down 4 year-over-year. The Canada Rig Count is up 44 from last week to 161, with oil rigs up 37 to 90, gas rigs up 7 to 71. The Canada Rig Count is down 83 rigs from last year's count of 244, with oil rigs down 62, gas rigs down 21.

13:01 EST Baker Hughes reports U.S. rig count up 13 to 373 rigs

12:37 EST Citi says another stimulus could further delay U.S. loss rates - Says continues to have "good dialogue" on investment banking side with clients. Says would hope stimulus makes losses go away completely.

12:28 EST Avangrid's NECEC project receives final major permit, starts construction - AVANGRID announced that it has received the Presidential Permit from the US Department of Energy for its New England Clean Energy Connect project, thus successfully completing all major permitting. The project also marked the start of construction with the commencement of clearing activities and installation of temporary access roads to prepare for the installation of the monopoles that will carry the transmission line. In partnership with Hydro-Quebec, the NECEC will bring clean hydropower from Quebec, significantly reducing carbon emissions in New England, the company said in a statement.

12:17 EST American Express reports December write-off rate 1.6% vs. 1.9% month prior - American Express reports a December consumer card net write-off rate of 1.6% vs. 1.9% in the month prior. Reports December consumer card 30 days past due loans 1.0% vs. 1.0% last month.

12:03 EST Citi sees value in simplifying company - Says effort to resolvve consent orders will take time.

12:00 EST Gatos Silver falls -11.7% - Gatos Silver is down -11.7%, or -$1.74 to $13.09.

12:00 EST Tufin rises 16.7% - Tufin is up 16.7%, or $2.57 to $17.95.

11:58 EST ConocoPhillips completes acquisition of Concho Resources - ConocoPhillips (COP) announced that it has completed its acquisition of Concho Resources (CXO) following approval by shareholders of both companies. In accordance with the terms of the merger agreement, each share of Concho common stock was converted into the right to receive 1.46 shares of ConocoPhillips common stock at the effective time of the merger. "We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it will deliver. This acquisition results in the combination of two premier companies that can lead the structural change for our vital industry that's critical to investors. We expect the company to deliver differential performance on three key mandates: providing affordable energy to the world, generating superior returns on and of capital and demonstrating ESG leadership I also welcome Tim Leach to ConocoPhillips' board of directors and executive leadership team. Tim and his organization built a best-in-class Permian company and we both look forward to creating significant value from this transaction. Thanks to the considerable efforts of our transition teams over these past few months, we're off to a fast start toward seamlessly integrating our two companies and building momentum as a sector leader," said Ryan Lance, ConocoPhillips chairman and CEO.

11:47 EST Citi says reserve release reflects economic outlook - Says well-positioned with over $28B in reserves. Says Global Consumer Banking revenue decline drive by lower card volumes and lower interest rates across all regions. Says saw signs of stabilization sequentially on GBC segment.

11:39 EST VirnetX trading resumes

11:36 EST Citi saw continued improvement in digital deposits in Q4 - Says had "strong finish" to "tumultuous" year. Says increased ACL by $10B over the course of 2020. Says 2020 revenues flat to 2019 despite economic issues related to COVID-19. Says institutional clients group "performed well" in Q4. Says private bank was a "standout" in Q4. Says saw deposit growth in "every region." Says remains "very well capitalized." Comments taken from Q4 earnings conference call.

11:29 EST Teva ANDA for Bexarotene approved by FDA - The Abbreviated New Drug Application, or ANDA, made by Teva for Bexarotene was approved on January 14, according to a post the FDA website. Reference Link

11:22 EST PNC Financial targeting mid-year close for BBVA US transaction

10:54 EST Activision's 'COD: Black Ops: Cold War' best-selling game of 2020, says NPD - NPD analyst Mat Piscatella said that Activision's (ATVI) "Call of Duty: Black Ops: Cold War" was the best-selling game of both December as well as 2020, while "Call of Duty: Modern Warfare" was 2020's 2nd best-seller. "Call of Duty" ranked as the best-selling gaming franchise in the U.S. market for a record 12th consecutive year. Nintendo's (NTDOY) "Animal Crossing: New Horizons" was 2020's 3rd best-selling title, and the 6th best-selling game of December. In 2020 the title achieved the highest physical dollar sales for a Nintendo published game in a calendar year since Wii Fit Plus in 2010. CD Projekt's (OTGLY) "Cyberpunk 2077" debuted as the #2 best-selling game of December, and the 19th best-selling game of 2020, despite the lack of digital tracking. Sony's (SNE) "The Last of Us: Part II" finished 2020 as the year's 6th best-selling title overall. "The Last of Us: Part II" now ranks as the 3rd best-selling Sony published game in U.S. history in dollar sales, trailing only "Marvel's Spider-Man" and 2018's "God of War." Half of the top 20 best-selling games of December 2020 were published by Nintendo, Piscatella said. Other companies in the video game software space include Microsoft (MSFT), Ubisoft (UBSFY), Capcom (CCOEY), Tencent (TCEHY), Electronic Arts (EA), and Take-Two (TTWO). Reference Link

10:47 EST NiSource up 4% after Gordon Haskett highlights activist potential - Shares of NiSource are up 85c, or 4%, to $22.71 in morning trading after Don Bilson, who heads Gordon Haskett's event-driven research team, noted prior to the open that the director nomination window at the company will open as of this coming Tuesday. Bilson said he "seldom" tries "to sniff out activists in this space, but in this case our appetite was whetted in November when we saw an unusual buyer show up in the Q3 13-F filings," referring to MUFG Securities, which has a "strong reputation" for putting on trades for activists and could have been doing such again. He does not know whether this MUFG position "will turn into anything," but "after five uninspiring years as CEO, Joe Hamrock may not be opposed to shaking things up," said Bilson in his note to investors.

10:34 EST Wells Fargo: 1% of possible 2021 NII decline tied to student loan sale

10:24 EST Wells Fargo no longer offering Covid deferrals, except in home lending, CFO says

10:15 EST Wells Fargo CEO: Efficiency ratio 'not competitive'

10:03 EST Wells Fargo CEO expects 2021 to get off to a slow start - Comments taken from Q4 earnings conference call.

10:00 EST GrafTech falls -8.7% - GrafTech is down -8.7%, or -$1.01 to $10.60.

10:00 EST Steel Partners rises 15.7% - Steel Partners is up 15.7%, or $1.78 to $13.14.

10:00 EST BlackBerry rises 20.8% - BlackBerry is up 20.8%, or $1.90 to $11.01.

09:47 EST GrafTech falls -9.5% - GrafTech is down -9.5%, or -$1.10 to $10.51.

09:47 EST 3D Systems falls -9.9% - 3D Systems is down -9.9%, or -$3.18 to $28.83.

09:47 EST BlackBerry rises 22.7% - BlackBerry is up 22.7%, or $2.07 to $11.18.

09:33 EST Biomerica expects completion of enrollment in IBS trial by end of April - The Company is nearing completion of patient enrollment in the endpoint clinical trial for its InFoods Irritable Bowel Syndrome diagnostic-guided therapy. This double-blinded, randomized, controlled clinical trial is validating the Biomerica InFoods IBS test to manage the debilitating pain and suffering of patients diagnosed with IBS. Utilizing an antibody guided blood test, the InFoods IBS product identifies patient-specific foods that may alleviate IBS symptoms when eliminated from the patient's diet. Mayo Clinic, Beth Israel Deaconess Medical Center, Inc., a Harvard Medical School Teaching Hospital, Houston Methodist, University of Texas Health Science Center at Houston, and the University of Michigan are participating in this study. Biomerica expects to complete patient enrollment at these centers by the end of April, 2021, and to have summary analysis results from the clinical trial by the end of July, 2021.

09:30 EST Biomerica says FDA actively reviewing EUA application for COVID-19 test - The Company announced that the U.S. Food and Drug Administration is now actively reviewing the Company's Emergency Use Authorization application for its COVID-19 IgG ELISA Test along with the Company's professional use and at-home Whole Blood Collection Card system. If EUA clearance is granted, it would be the first for an in-home blood sample collection system combined with an ELISA test kit. This collection system offers the simplicity of a finger-prick blood sample which can be easily collected in multiple settings such as homes, schools, workplace, community care and healthcare settings, and have these samples sent back to a lab to be run on the Company's highly accurate ELISA test. In clinical studies, the finger-prick blood collected samples demonstrated 100% specificity for detecting IgG antibodies to the spike protein of SARS-CoV-2 and 0% cross-reactivity with many common diseases. The Company's COVID-19 IgG ELISA test uses modified trimeric spike protein from the SARS-CoV-2 virus, which is known to be the target of neutralizing antibodies that prevent the virus from entering cells.1

09:21 EST Eaton Vance reports consolidated AUM $583.1B on December 31 - This compares to $515.7B on October 31, 2020, the close of the company's fourth fiscal quarter.

09:11 EST Walmart U.S. eCommerce CEO Marc Lore to retire - On January 14, Marc Lore notified Walmart of his intent to retire from his position of Executive Vice President, President and Chief Executive Officer, U.S. eCommerce, effective January 31. Lore will continue to serve in a consulting role as a strategic advisor to the company through September. Lore joined the company in September 2016 in connection with the company's acquisition of Jet.com. Lore was previously the founder and CEO of Jet.com. Prior to founding Jet.com, Lore founded and led various e-commerce and internet companies, including Quidsi and The Pit, Inc. Walmart said, "Following the Jet.com transaction, we unified the Jet.com team with Walmart.com. Over the past couple of years, we have unified our store and eCommerce teams which better enables us to create one brand experience for our customers. That was completed in 2020 and so our Walmart U.S. segment has been operating and continues to operate as an omni-channel business. After Mr. Lore retires on January 31, 2021, the U.S. business, including all the aspects of US retail eCommerce, will continue to report to John Furner, Executive Vice President, President and Chief Executive Officer, Walmart U.S., beginning on February 1, 2021."

09:07 EST LightPath announces new sales office in Germany - LightPath announced the opening of it's newest sales office in Germany to stimulate sales of its expanding range of products in Europe.

09:06 EST SG Blocks announces expansion of ECHO DCL factory - SG Blocks announced that in furtherance of its September 2020 acquisition of ECHO DCL in Durant, Oklahoma, a new 10,300 square foot building extension will be used to greatly increase the company's capacity for container modifications, reinforcements, and the construction of light gauge steel purpose-driven modules. This additional square footage is the first step in a multi-phased plan to develop the SG Echo manufacturing campus. The original acquisition of ECHO DCL by SG Blocks in September 2020 allowed SG Blocks to vertically integrate a large portion of costs of goods sold, as well as increase margins and productivity in the crucial areas of design and manufacturing. With this expansion, SG Blocks intends to further utilize the labor force available in Durant, Oklahoma to meet the needs of markets, including military, education, administration facilities, healthcare, government, commercial and residential manufacturing. The expansion is expected to help SG Blocks to further specialize and meet the complex needs of its various clients.

09:04 EST Tenable Holdings achieves NIAP Common Criteria Certification - Tenable announced that it has achieved Common Criteria Certification from the National Information Assurance Partnership. NIAP is a public-private sector partnership which validates that commercial IT products meet security requirements for use in U.S. national security systems. Tenable's products underwent strict testing and security requirements before being added to the publicly available NIAP Product Compliant List.

09:03 EST Kopin announces 2.6K x 2.6K OLED display on chip are incorporated on VR glasses - Kopin announced its Lightning 2.6K x 2.6K OLED display on chip are incorporated in Panasonic's VR Glasses introduced at the CES 2021 this week. This 2.6K x 2.6K OLED microdisplay on Si integrates many functional blocks including MIPI serial interface, display stream compression and memory. The 2.6K x 2.6K DoC is designed specifically for high-performance, compact virtual reality, augmented reality and mixed reality headsets.

09:01 EST Puma Biotechnology announces interim results from SUMMIT trial - Puma Biotechnology announced interim results from the biliary tract cancers cohort of the ongoing SUMMIT trial of neratinib at the virtual 2021 Gastrointestinal Cancers Symposium hosted by the American Society of Clinical Oncology, or ASCO GI, that is currently taking place. The Phase II SUMMIT basket trial is an open-label, multicenter, multinational study that included a cohort evaluating the safety and efficacy of neratinib administered daily to patients who have HER2, or ERBB2, mutation-positive advanced biliary cancer. Patients received 240 mg of neratinib daily as a single agent. In this cohort of 25 patients, 11 patients had cholangiocarcinoma, 10 patients had cancer of the gallbladder and four patients had cancer of the ampulla of Vater. 24 patients had received prior systemic chemotherapy with a median of two prior lines of therapy before entering the trial. The efficacy results from the trial demonstrated that there were four patients with confirmed partial responses and an additional three patients who had stable disease lasting greater than or equal to16 weeks. This resulted in an objective response rate of 16% and a clinical benefit rate of 28%. The durations of response were 3.0 months, 3.7 months, and 4.7 months and additionally one patient with gallbladder cancer remains on treatment greater than 80 weeks. The safety profile of patients with biliary tract tumors is similar to that previously reported for patients treated with neratinib monotherapy and mandatory loperamide prophylaxis in the first two months; treatment was manageable, with 56% of patients experiencing some diarrhea, including 24% with grade 3 diarrhea. There were no episodes of grade 4 diarrhea, and no treatment discontinuations due to diarrhea. Four patients required neratinib dose reduction and one patient was hospitalized due to diarrhea.

08:48 EST JPMorgan sees investment banking fees up 'modestly' in Q1

08:40 EST Arcus Biosciences presents preliminary data from ARC-8 study - Arcus Biosciences presented preliminary data from the dose-escalation portion of its ARC-8 Phase 1/1b study, evaluating the safety and tolerability of AB680, the first small-molecule CD73 inhibitor to enter the clinic, in metastatic pancreatic cancer at the ASCO 2021 Virtual Gastrointestinal Cancers Symposium, or ASCO GI. The ongoing, open-label, multicenter trial is a Phase 1/1b study evaluating the safety profile and clinical activity of AB680 in combination with nab-paclitaxel plus gemcitabine and zimberelimab, an anti-PD-1 antibody, as a first-line treatment in patients with metastatic pancreatic ductal adenocarcinoma, or PDAC. Overall, 19 patients had received AB680 plus NP/Gem plus zimberelimab at doses of AB680 ranging from 25 to 100 mg, administered once every two weeks. Across all four dose-escalation cohorts, no significant additive toxicity from AB680 plus NP/Gem plus zimberelimab has been observed beyond that expected from NP/Gem plus anti-PD-1 combined. One dose-limiting toxicity (Grade 2 autoimmune hepatitis) occurred in the 50mg AB680 cohort; the event resolved completely with steroid treatment, and the patient resumed study treatment, including immunotherapy, without subsequent autoimmune events. The most common treatment emergent adverse events, or AE, were fatigue, anemia, alopecia, diarrhea and neutrophil count decrease. These AE results are very similar to what would be expected with NP/Gem alone. Since the safety DCO, no additional dose-limiting toxicities have been reported. A total of 17 out of 19 patients enrolled in the Phase 1 dose-escalation portion of the study were evaluable for response, and 16 of the evaluable patients remained on active treatment at the time of the efficacy DCO. Overall, 88% of patients experienced at least some shrinkage of their lesions. Also, 41% ORR was observed for the AB680 combination across all dose-escalation cohorts, including one patient who converted to a complete response for both target and non-target lesions since the efficacy DCO. Of the partial responses, three are confirmed responses and of the four unconfirmed responders, three responded at the first tumor assessment and the fourth responded at the second tumor assessment, and all remain on study. For patients that had been on drug for more than 16 weeks, an 85% disease control rate (11/13) was achieved with the AB680 combination. Treatment benefit appears durable; of the evaluable patients from the first three dose-escalation cohorts, 10 of 12 continue on treatment with a median time on treatment of 180 days. The last drug to be approved in the first-line metastatic pancreatic cancer setting is Abraxane. As stated in the FDA approved label for Abraxane(R) (nab-paclitaxel) for use in combination with gemcitabine in first-line metastatic pancreatic cancer: The ORR from the registrational Phase 3 study was 23%. A 48% DCR was achieved in the registrational Phase 3 study.

08:37 EST OrthoPediatrics expands agent network in Germany, Austria, Switzerland - OrthoPediatrics announced the expansion of its agent network in Germany, Austria and Switzerland. As part of its previously communicated strategy, OrthoPediatrics has broadened its reach into the largest European market of Germany, Austria and Switzerland by converting long-standing distributor partners there to sales agencies. Under the agency model, the Company continues to benefit from the commercial relationships established by stocking distributors while it directly consigns instrument and implant sets to hospitals. This relieves the former distributors from significant capital investment requirements and removes a significant bottleneck to the Company's growth in those markets. As a result of these agreements, OrthoPediatrics will recognize top line revenue by billing hospitals directly in these three important geographies. This increases from 8 to 11 the number of countries where OrthoPediatrics has implemented the agency model as part of its commitment to international expansion around the world. During 2020, agencies were the most important revenue growth contributor for international sales.

08:35 EST Newtek Business CEO says 'optimistic about growth prospects' going into 2021 - Newtek Business Services provides Newtek CEO's, Barry Sloane, comments on the Company's pricing of its $100M public offering of 5.50% Notes due 2026. Newtek expects to list the Notes on the Nasdaq Global Market under the trading symbol "NEWTZ." Barry Sloane, President, Chairman and CEO, of Newtek commented, "We are pleased to announce the pricing of our $100M bond transaction at 5.50%, which, for us, is record in size for a publicly traded baby bond issuance as well as a record-low coupon. This issuance was rated BBB+ by Egan Jones, and garnered strong institutional demand. We anticipate using the net proceeds from the sale of the Notes to fund investments in debt and equity securities in accordance with our investment objective and strategies, and may use the net proceeds to fully or partially pay down, retire, or redeem certain of our outstanding indebtedness, including our outstanding 6.25% Notes due 2023. Our investment objective and strategies include opportunistic growth across all lending programs, including products such as SBA 7(a) loans, SBA 504 loans, secured lines of credit and our non-conforming conventional loan program that we anticipate relaunching in calendar year 2021, after having to suspend this program due to the pandemic. We are currently focused on positioning the Company for its activity in the "second draw" of the Paycheck Protection Program funding, and are experiencing strong interest in "first-draw" PPP loans as well. While it's too early to determine what our total demand will ultimately be, we have received several thousand applications for PPP financing that have been filled out and signed by prospective borrowers. Currently, we have financing to place to fund upwards of 100% of each PPP loan with participation certificates for investors. We are optimistic about our growth prospects going into 2021, and we are well capitalized to accomplish our objectives for the remaining part of 2021. We want to thank our sole book-running manager, Keefe, Bruyette & Woods, Inc., and Ladenburg Thalmann & Co. Inc., the lead co-manager, and Compass Point Research & Trading, LLC, co-manager, for effectuating this transaction. We are looking forward to 2021, and are excited about meeting the challenges that are ahead of us."

08:35 EST Seelos Therapeutics says first patients dosed in study of SLS-002 - Seelos Therapeutics announced dosing of the first patients in its registrational Proof of Concept study of SLS-002 for Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder.

08:23 EST DPW Holdings takes 7.12% stake in IKONICS - In a filing yesterday, DPW Holdings (DPW) disclosed a 7.12% stake in IKONICS (IKNX), which represents 140.7K shares. The filing does allow for activism.

08:18 EST Cardiff Oncology presents data from Phase 1b/2 study in KRAS-mCRC - Cardiff Oncology announced the presentation of data from its Phase 1b/2 study in KRAS-mutated metastatic colorectal cancer as part of the American Society of Clinical Oncology Gastrointestinal Cancers Symposium and provided an additional data update from its mCRC clinical program and initial findings from its Expanded Access Program. "The Phase 1b data show that a significant percentage of patients had tumor shrinkage, achieved clinical benefit and, importantly, that the response appears durable with two-thirds of the patients having been on treatment for at least six months," said Daniel Ahn, D.O., lead investigator and medical oncologist, Mayo Clinic Cancer Center, Arizona. "This highlights the promise of onvansertib plus standard-of-care as an effective second-line treatment for patients with KRAS-mutated mCRC. We look forward to building on these promising data during the Phase 2 portion of the trial." Initial findings from Cardiff Oncology's EAP for onvansertib in KRAS-mutated mCRC are similar to results from the Phase 1b trial. In the EAP, 6 of the first 9 patients treated have shown tumor shrinkage and remain on treatment to-date with durable responses lasting an average of 6 months. Additionally, 5 different KRAS mutation subtypes are represented (G12A, G12C, G12V, G13D, A146T) and all patients had received prior treatment with FOLFIRI. Importantly, decreases in the KRAS mutational burden after the first cycle of treatment have been predictive of subsequent tumor shrinkage.

08:16 EST VBI Vaccines results from 3-antigen hepatitis B virus vaccine study published - VBI Vaccines announced that results from a Phase 4 study of VBI's prophylactic 3-antigen hepatitis B virus, or HBV, vaccine in younger adults were published in Vaccine, a journal publication from Elsevier. The study was designed to evaluate the immunogenicity of VBI's 3-antigen HBV vaccine in support of the qualification of that batch as a new reference standard for vaccine release to the Israeli market, where VBI's vaccine is available as Sci-B-Vac. Prior to market release in Israel, batches of VBI's vaccine are tested against a reference vaccine batch that has been assessed in a clinical trial. According to the European Pharmacopeia, the reference batch should elicit, after the full course of vaccination, a seroprotection rate, or SPR, of at least 95% in young and healthy adult participants. In this open-label, single-arm Phase 4 study in 91 healthy adults age 20-40 years, this objective was achieved two months after the second dose - the SPR at month 3 was 98.8%. SPR is defined as the percent of participants who achieve antibody titers above the protective threshold of 10 mIU/mL. By month 7, after receiving three doses, all enrolled participants were sero protected. The majority of participants were high responders, defined as achievement of anti-HBs titers100 mIU/mL - high-responder SPR was 81.4% and 97.6% at month 3 and month 7, respectively. The geometric mean concentration of anti-HBs titers were also substantially above the protective threshold at 413.6 mIU/mL and 6799.9 mIU/mL at month 3 and month 7, respectively.Anti-HBs titers were maintained above 2000 mIU/mL at month 12, suggesting a potent and sustained response. Consistent with other clinical data, VBI's 3-antigen HBV vaccine was well-tolerated with no safety signals observed.

08:15 EST Enstar Group announces reinsurance transaction with ProSight - Enstar Group (ESGR) announced that one of its wholly owned subsidiaries has entered into an agreement with subsidiaries of ProSight Global (PROS) to provide reinsurance relating to 2019 and prior year business. The reinsurance will comprise a ground up loss portfolio transfer of ProSight's discontinued workers' compensation and excess workers' compensation lines of business and an adverse development cover on ProSight's diversified mix of general liability classes of business. In the transaction, ProSight will cede net loss reserves of approximately $500M and Enstar's subsidiary will provide additional aggregate limit of $250M. The transaction is subject to the closing of a broader strategic transaction announced by ProSight and remains subject to regulatory approval and other closing conditions.

08:13 EST TowerBrook, Further Global to acquire ProSight for approximately $586M in cash

08:12 EST Luokung Technology: 'Not owned, controlled or affiliated by Chinese military' - Luokung Technology announced that the Department of Defense of the United States, on January 14, released names of additional 9 companies under Section 1237 of the National Defense Authorization Act for Fiscal Year 1999, and the company was included in the list. Luokung stated, "The company, as a non-state-owned enterprise, has always adhered to lawful and compliant operations and abided by the relevant laws and regulations of the place of operation. Its services and products are used for civilian or commercial purposes or for public services. The company confirms that it is not owned, controlled or affiliated by the Chinese military, nor is it a Chinese military company under the statutory definition of the National Defense Authorization Act. The company will take appropriate measures to protect the interests of the company and shareholders. The company is fully assessing the possible impact of this incident on the company, responding accordingly, and actively communicating with all parties. The company will strictly abide by the relevant rules and timely perform its information disclosure obligations based on the development of subsequent events. Investors are kindly requested to pay attention to the company's announcements and beware of investment risks."

08:10 EST Citi reports 2020 ROE 5.9%, RoTCE 6.9% - Reports Q4 SLR 7%.

08:09 EST Novavax appoints Henrietta Ukwu as chief regulatory, quality officer - Novavax announced the appointment of Henrietta Ukwu, M.D., FACP, FRAPS, to the position of SVP, Chief Regulatory and Quality Officer. In this newly created role, Dr. Ukwu will lead global regulatory strategy and execution as well as the quality assurance function for the company's development-stage vaccine candidates, including its recombinant protein-based COVID-19 candidate vaccine, NVX-CoV2373. Ukwu most recently served as Chief Regulatory Officer and Global Head of Quality and Regulatory at Otsuka Pharmaceuticals.

08:08 EST Wells Fargo reports Q4 CET1 ratio 11.6%, ROE 6.4%, ROTCE 7.7%

08:07 EST Gracell granted MPMC from JSMPA for CAR-T cell therapy products - Gracell Biotechnologies has been granted the Medical Products Manufacturing Certificate from the Jiangsu Medical Products Administration for its CAR-T cell therapy products. The certification was granted on January 4, 2021, and indicates that Gracell's site in Suzhou Industrial Park has fully met the compliance requirements for Good Manufacturing Practice in relation to the production of CAR-T cell therapy for cancer treatment.

08:06 EST Ameriserve Financial to acquire Citizen's Neighborhood Bank's - AmeriServ Financial (ASRV) and Riverview Financial (RIVE) jointly announced the execution of a definitive agreement whereby AmeriServ will acquire Citizen's Neighborhood Bank's, an operating division of Riverview Bank, branch and deposit customers in Meyersdale, as well as the deposit customers of CNB's leased branch in the Borough of Somerset. Both of these locations are in Somerset County in southwestern Pennsylvania. As of the agreement date, the related deposits total approximately $48M and will be acquired for a 3.71% deposit premium. The Meyersdale branch will continue in operation under the AmeriServ name, and Somerset branch customers will be serviced from the neighboring full service AmeriServ office at 108 West Main Street. On a pro forma basis, ASRV will have the fourth largest deposit market share in Somerset County with four branches and $150M in deposits. This transaction will be immediately accretive to AmeriServ earnings and the approximate 2% dilution to ASRV's tangible book value will be earned back in less than three years. The transaction is subject to regulatory approvals and satisfaction of customary closing conditions and is expected to close in the second quarter.

08:04 EST PNC Financial sees 'stable' revenue in FY21 vs. FY20 - Sees revenue and noninterest expense "stable" in FY21 vs. FY20, with an effective tax rate of 17%.

08:04 EST PNC Financial sees Q1 net interest income down approximately 1% - Sees average loans stable to down modestly, with NII down approximately 1% and noninterest income down mid-single digits. PNC sees noninterest expense down mid-single digits and net loan charge-offs $200M-$250M for Q1. Comments taken from Q4 earnings conference call presentation slides.

08:03 EST Aemetis awarded patent for "Carbon Zero" production plants - Aemetis announced that its exclusively licensed technology for the production of below zero carbon renewable fuel was awarded U.S. Patent No. 10907184, enabling the launch of Aemetis "Carbon Zero" production plants to commercialize the technology. Using patented technology exclusive to Aemetis for agricultural waste wood feedstock, the Carbon Zero plants are integrated with existing Aemetis production facilities to produce energy dense renewable fuels using renewable energy and below zero carbon intensity waste feedstocks. The Aemetis Carbon Zero production plants are designed to convert below zero carbon feedstocks into energy dense liquid renewable fuels. Aemetis expects that such renewable fuels, when used in hybrid electric vehicles or other vehicle engines, will have a "below zero carbon" greenhouse gas footprint across the entire lifecycle of the fuel based on the Argonne National Laboratory's GREET model, the pre-eminent science-based lifecycle analysis measurement tool.

07:42 EST Tencent Music acquires Lazy Audio for RMB2.7B - Tencent Music Entertainment Group announced that it entered into a definitive agreement to acquire 100% equity interest of Shenzhen Lanren Online Technology Co, Ltd, a well-established audio platform in China, for a total consideration of RMB2.7B, primarily payable in cash, plus certain post-acquisition equity-settled awards to Lazy Audio's management team. The existing shareholders of Lazy Audio include China Literature Limited, Lazy Audio's management team and other financial investors. The transaction is expected to close in the first half of 2021 subject to customary closing conditions. Lazy Audio will maintain its independent operations while being an essential component of TME's overall long-form audio strategy. Upon completion of acquisition, TME will consolidate the investment in Lazy Audio, and enable Lazy Audio to have full access to TME's expertise, leading technology, and strong promotional capabilities.

07:24 EST Wipro chosen by Fiat Chrysler to establish first global digital hub in India - Wipro (WIT) announced that it has been chosen as a strategic technology services partner by Fiat Chrysler Automobiles (FCAU) to establish its first global digital hub in Hyderabad, India. This digital hub, called FCA ICT India, will support FCA's information and communication technology operations to focus on delivering premium mobility services and help FCA achieve its goal to enhance customer centricity through digital transformation. As part of this engagement, Wipro will source and build a talent pool of more than 1000 skilled consultants and technologists for FCA ICT India who will help develop capabilities around futuristic technologies. The hub will showcase world-class high-performance engineering skills and digital best practices. FCA ICT India will be built from the ground up to meet FCA's specific needs and growth agenda in the region. Wipro's global expertise in the automobile sector will enable FCA to acquire the best talent and achieve digital transformation at scale.

07:18 EST JPMorgan reports book value per share of $81.75, up 8% - Reports tangible book value per share $66.11, up 8%.

07:16 EST VBL Therapeutics enters into share purchase agreement with Aspire Capital - VBL Therapeutics announced that it has entered into an Ordinary Share Purchase Agreement with Aspire Capital Fund. Proceeds from any sales of ordinary shares pursuant to the Purchase Agreement will be used for working capital and for general corporate purposes. Under the Agreement, Aspire has committed to purchase up to $20M of the Company's ordinary shares at VBL Therapeutics' discretion from time to time during a 30-month period at prices based on the market price at the time of each sale. VBL Therapeutics will retain full control as to the timing and amount of any sale of ordinary shares to Aspire, subject to certain limitations specified in the Purchase Agreement. The Purchase Agreement does not contain any restrictions on the use of any of the proceeds or future financings and there are no financial covenants, participation rights, rights of first refusal, or penalties. There are no warrants or other derivative securities associated with the transaction. VBL Therapeutics has the right to terminate the Purchase Agreement at any time without any additional cost or penalty.

07:11 EST Golden Minerals regains NYSE American compliance - Golden Minerals announced that it has received written notice from the NYSE American that the company has regained full compliance with the continued listing standards outlined in Part 10 of the NYSE American company Guide.

07:10 EST Desktop Metal to acquire EnvisionTEC for $300M in cash, stock - Desktop Metal announced the signing of a definitive agreement to acquire EnvisionTEC, a global provider of volume production photopolymer 3D printing solutions for end-use parts, for total consideration of $300M, consisting of a combination of cash and newly issued Desktop Metal stock. The transaction is expected to close in Q1, subject to customary closing conditions. Following completion of the acquisition, EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal. EnvisionTEC founder Al Siblani will continue to serve as CEO of the EnvisionTEC business.

07:08 EST Applied DNA Sciences provides update on COVID-19 diagnostics, testing - Applied DNA Sciences announced that its safeCircle pooled surveillance testing service has seen a 158% increase in the daily average number of tests performed to date in January compared to December 2020. The increase is chiefly the result of the scale-up of certain testing contracts and from the acquisition of new clients. Launched in Q4 of 2020, safeCircle now counts 33 primary/secondary/higher education institutions, private client, local government, and businesses as clients. Concurrently, the company stated that it is increasing production of its Linea COVID-19 Assay Kit and sample collection kits to meet expected demand from existing customers, from its safeCircle service that is powered by the assay kit, and due to heightened interest in the assay kit following a recent FDA alert that identified the assay as an EUA-approved molecular diagnostic test that can potentially identify certain SARS-CoV-2 mutations. The company also said that Applied DNA Clinical Laboratories, or ADCL, its wholly-owned subsidiary, is on track to submit a request for CLEP-CLIA re-inspection during the current quarter ending March 31. If granted, CLEP-CLIA certification would enable ADCL to serve as a diagnostic laboratory that would allow for it to conduct diagnostic COVID-19 testing.

07:05 EST OneWeb receives additional funding from SoftBank, EchoStar - OneWeb, the low Earth orbit, or LEO, satellite communications company jointly owned by the UK Government and Bharti Global, announced that it has secured additional funding from SoftBank (SFTBY) and Hughes, bringing OneWeb's total funding to $1.4B. The capital raised to date positions the company to be fully funded for its first-generation satellite fleet, totaling 648 satellites, by the end of 2022. OneWeb's mission is to deliver broadband connectivity worldwide to offer everyone, everywhere access including to the Internet of Things future and a pathway to 5G. OneWeb's LEO satellite system includes a network of global gateway stations and a range of user terminals for different customer markets capable of delivering high-bandwidth and low-latency communications services. In December 2020, OneWeb launched 36 new satellites, built at its assembly plant in Florida, bringing the company's total fleet to 110 satellites, all fully-functioning and benefitting from International Telecommunication Union spectrum priority. In connection with the investment, SoftBank will gain a seat on the OneWeb board. Hughes is an investor through its parent company EchoStar (SATS), and also an ecosystem partner, developing essential ground network technology for the OneWeb system.

07:04 EST Medipharm Labs appoints Warren Everitt to board of directors - MediPharm Labs announced the appointment of Warren Everitt to its Board of Directors, effective immediately. Everitt joined MediPharm Labs in 2017 to establish the Company's presence in the Australian market. As the founding CEO of Australia Pacific, he oversaw all aspects of the build out, start-up and commercialization of the GMP-certified extraction operation in Wonthaggi, Australia including licensing, factory design, finance, sales and marketing. With Everitt's appointment, MediPharm Labs' Board of Directors will consist of eight members, five of whom are independent.

06:59 EST JPMorgan CEO says 'reported strong results' in Q4 - Jamie Dimon, Chairman and CEO, commented on the financial results for Q4: "JPMorgan Chase reported strong results in the fourth quarter of 2020, concluding a challenging year where we generated record revenue, benefiting from our diversified business model and dedicated employees. While we reported record profits of $12.1 billion, we do not consider the reserve takedown of $2.9 billion to represent core or recurring profits - essentially reserve calculations, while done extremely diligently and carefully, now involve multiple, multi-year hypothetical probability-adjusted scenarios, which may or may not occur and which can be expected to introduce quarterly volatility in our reserves. While positive vaccine and stimulus developments contributed to these reserve releases this quarter, our credit reserves of over $30 billion continue to reflect significant near-term economic uncertainty and will allow us to withstand an economic environment far worse than the current base forecasts by most economists." Dimon added: "In Consumer & Community Banking, deposits grew 30% or over $200 billion driven primarily by growth in the Federal Reserve's balance sheet and the continuation of modest market share gains. Within our consumer lending franchise, auto and retail mortgage originations were both up more than 20%. Consumer spending continued to recover, as reflected in combined debit and credit card spend being up for the full quarter. The Corporate & Investment Bank delivered another impressive quarter with growth in Global Investment Banking fees of 34% and Markets revenue of 20%. With a record quarter, Commercial Banking earned $3.3 billion of investment banking revenue in 2020, surpassing its previous $3 billion long-term target. In Asset & Wealth Management, AUM grew 17% due to higher asset values and net inflows of over $190 billion into long-term and liquidity products over the last twelve months." Dimon concluded: "We ended the year with a CET1 ratio of 13.1% (vs. 12.4% at the beginning of the year) and capital above $200 billion, providing us with meaningful capacity to further invest in our business and communities, while returning capital to our shareholders. This increase in capital was after raising over $2 trillion of credit and capital for our consumer and institutional clients around the world, which includes nonprofits and U.S. government entities, including states, municipalities, hospitals and universities and adding net $12 billion to credit reserves. We also hold $1.4 trillion of cash and marketable securities, which is currently over $450 billion in excess of what is required. We opened branches in new markets, improved our digital capabilities, and made acquisitions that will enhance our product offerings and deepen our engagement with our customers. We also continued to invest in our communities - for example, through our initial commitments to support those most impacted by the pandemic and our longer-term commitment to advance racial equality and promote economic growth. Our earnings power and healthy capital position also provide us the flexibility to pay dividends and return excess capital to shareholders through share repurchases. I want to end by thanking our frontline colleagues and those working from home who quickly adapted to the pandemic and safely helped our clients, customers, communities and governments."

06:57 EST JPMorgan reports Q4 average loans up 1%; average deposits up 35%

06:56 EST JPMorgan reports Q4 ROE 12%, ROTCE 14%

06:42 EST Charah Solutions awarded marketing contract by Dominion for 8.1M tons of ash - Charah Solutions (CHRA) announced that it has been awarded a marketing contract by Dominion (D) for the beneficiation and utilization of up to 8.1M tons of reclaimed ponded coal ash at its Chesterfield Power Station in Chester, Virginia. Dominion Energy is headquartered in Richmond, Virginia. Legislation passed during the 2019 Virginia General Assembly requires Dominion Energy to remove approximately 15M cubic yards of coal ash currently stored in two coal ash ponds at Chesterfield Power Station within 15 years. The coal ash must be recycled or placed in a lined landfill that meets federal coal combustion residuals, or CCR, and Virginia CCR regulations. To meet the standards mandated in Virginia Senate Bill 1355, Dominion Energy has contracted with Charah Solutions for the coal ash utilization efforts effective 2021 through 2032. Dominion Energy will store the remaining coal ash in an adjacent lined landfill. As part of the agreement, Charah Solutions will install processing and transportation infrastructure in 2021 to facilitate rail transportation of the ash from Chesterfield Power Station to cement kiln feed markets. The beneficiated ash product will replace other currently utilized virgin raw materials in the production of Portland cement at multiple cement kiln locations in the eastern U.S. for the next 10+ years and help supply the growing demand for concrete in the construction industry. In addition, every ton of coal ash used to replace traditional virgin raw materials in the production of cement reduces carbon dioxide emissions entering the atmosphere. The beneficiated ash will be distributed through Charah Solutions' MultiSource materials network, a distribution system of more than 40 nationwide locations which provides a continuous and reliable supply of supplementary cementitious materials for cement and concrete producers as well as other customers who beneficially reuse the products.

06:33 EST Thermo Fisher acquires Henogen business from Novasep for EUR 725M in cash - Thermo Fisher and Groupe Novasep, a supplier of services and technologies for the life sciences industry, announced that Thermo Fisher has completed the acquisition of Henogen, Novasep's viral vector manufacturing business in Belgium for approximately EUR 725M in cash. Novasep's viral vector manufacturing business provides contract manufacturing services for vaccines and therapies to biotechnology companies and large biopharma customers. With two locations in Seneffe and Gosselies, Belgium, Novasep's viral vector business offers more than 7,000 square meters of state-of-the-art clinical and commercial manufacturing capacity. Founded more than 20 years ago, the business has approximately 400 employees with substantial operational and technical expertise in a broad range of viral vector classes and estimated 2020 revenue of approximately $95M. The business will be part of the pharma services business within the laboratory products and services segment.

05:58 EST Frontier Communications receives FCC approval for Chapter 11 restructuring - Frontier Communications announced that it has secured approval from the Federal Communications Commission, or FCC, for its Chapter 11 restructuring. Frontier now has regulatory approvals, or favorable determinations, for its required change-in-control applications related to its court-supervised restructuring from the FCC and 13 states: Arizona, Georgia, Illinois, Minnesota, Mississippi, Nebraska, Nevada, New York, Ohio, South Carolina, Texas, Utah and Virginia. Frontier expects to promptly consummate the transactions contemplated under its previously confirmed plan of reorganization and emerge from Chapter 11 in early 2021. Upon emergence, Frontier will have reduced its total outstanding indebtedness by more than $10B. The U.S. Bankruptcy Court for the Southern District of New York confirmed the company's plan of reorganization in August 2020.

05:16 EST Dada Nexus announces JD Daojia partners with over 20 regional supermarkets - Dada announced that its local on-demand retail platform, JD Daojia, or JDDJ, has accelerated its geographic expansion into lower-tier markets and established new partnerships with more than 20 regional supermarkets including Ouya Supermarket, Zhenhua Supermarket, Sanhe Supermarket, Zhebei Supermarket, Guihe Supermarket and Sifang Street in late 2020. With the formation of these agreements, JDDJ said it has established partnerships with more than 2/3 of the top 100 supermarket chains in China.

05:09 EST Sandvik AB acquires minority stake in Oqton, terms undisclosed - Sandvik has acquired a minority stake in the privately owned American software company Oqton, a provider of AI-powered manufacturing solutions that allows manufacturers to manage, optimize, and automate their manufacturing workflows. Oqton provides an end-to-end cloud-based manufacturing platform that links data across the ]manufacturing ecosystem, from design to production, to logistics. Their open and agnostic cloud-based platform enables manufacturers to operate factories and manage product mixes, with lower inventory and a simplified supply chain. Founded in 2017, Oqton has 60 employees, the corporate base in San Francisco and three R&D centers located in Belgium, Denmark and China. The relationship with Oqton will be managed by Sandvik Manufacturing Solutions' division design and planning automation. The amount of the investment was not disclosed.