Stockwinners Market Radar for May 07, 2021 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:45 EDT RenaissanceRe approves renewal of share repurchase program - The Board of Directors approved a renewal of RenaissanceRe's authorized share repurchase program, bringing the total current authorization up to $500M, which includes the remaining amounts under prior authorizations.

18:26 EDT Planet Fitness CEO: Thrilled with how business is progressing - In an interview on CNBC's Mad Money, Chris Rondeau said the company is making significant headway back to normal. People are joining at great rates and the company is at about 80% of normal workout volume, he added. According to Rondeau, Planet Fitness had a lot of time to focus on digital in 2020 when the business was shut down. "With the app, we're now engaging with customers outside the four walls. It's a stickier member," he noted.

17:47 EDT AstraZeneca mulls skipping emergency use application for COVID vaccine, WSJ says - AstraZeneca may forego asking the FDA for emergency-use authorization for its COVID-19 vaccine, and will instead pursue the more time-intensive application for a full-fledged license to sell the vaccine, the Wall Street Journal's Jenny Strasburg and Thomas M. Burton report, citing people familiar with the matter. Such a decision would further delay any launch of the company's shots in the U.S., where the vaccine has already been made and stockpiled, the authors say, noting that U.S. government and public health officials have said they probably won't need the shots due to ample supplies of other vaccines. Reference Link

17:01 EDT Danimer Scientific to restate financial statements for year ended Dec. 31, 2020 - Danimer Scientific announced a response to the public statement issued by the staff of the SEC on April 12 regarding accounting and reporting considerations for warrants issued by Special Purpose Acquisition Companies. Similar to other SPACs, the company had previously classified its private warrants, which were issued in 2020, as equity. However, after evaluating the Staff Statement and consulting with its advisors, the company will restate its audited consolidated financial statements for the year ended December 31, 2020 to classify the company's Private Warrants as a liability instead of as equity as previously reported and to reflect the change in the fair value of such liability in each period as a non-cash charge or gain in the consolidated statement of operations. This restatement will have no impact on Danimer's current or historical reported cash or cash equivalents, revenues, loss from operations, or cash flows from operating, investing, or financing activities. The company is also evaluating how the facts and circumstances described above impact management's assessment of the effectiveness of internal control over financial reporting and disclosure controls and procedures. The company is working diligently to finalize the valuation and accounting treatment of the Private Warrants and intends to file an amendment to its Annual Report on Form 10-K for the year ended December 31, 2020 as soon as reasonably practicable.

16:40 EDT Berry Global CFO sells 20,000 common shares - In a regulatory filing, Berry Global CFO Mark Miles disclosed the sale of 20,000 common shares of the company on May 5 at a price of $66.0477 per share.

16:25 EDT Parker-Hannifin COO sells 13,618 common shares - In a regulatory filing, Parker-Hannifin president and COO Lee Banks disclosed the sale of 13,618 common shares of the company on May 5 at a price of $316.3414 per share.

16:18 EDT Univar raises FY21 adjusted EBITDA view to $680M-$700M from $630M-$650M - The Company is forecasting 2021 year-end liquidity to be within a range of approximately $800 million to $900 million (consisting of cash and availability under committed asset-based credit facilities) and expects to reduce leverage to 2.8x, also by the end of 2021. The majority of the Company's debt obligations mature in 2024 and beyond. The Company is in full compliance with the covenants under its credit agreements.

16:18 EDT Univar Solutions sees Q2 adjusted EBITDA $180M-$190M

16:16 EDT Pzena Investment reports preliminary AUM $50.3B at April 30 - Up from $49.2B at March 31 and $30.1B at April 30, 2020.

16:08 EDT Arco Platform names Roberto Otero as CFO, effective May 11 - Arco Platform (ARCE) announced that Roberto Otero will join Arco as CFO, effective May 11. Otero will report to Arco's founder and CEO, Ari de Sa Neto. Otero joins Arco from Bank of America Merrill Lynch (BAC), where he served as an Executive Director since 2009, covering the education sector, among other industries. Otero has an extensive background in corporate finance, financial planning, investor relations and financial accounting.

15:36 EDT Amazon plans to build first robotics fulfillment center in Louisiana - Amazon plans to open its first robotics fulfillment center in the state of Louisiana. The new operations facility in Shreveport will create over 1,000 new, full-time jobs and provide employees with at least $15 per hour and comprehensive benefits. Amazon jobs support Louisiana communities of all sizes, from larger metro areas like Shreveport to smaller communities like Carencro. In the new 650,000 square-foot fulfillment center, Amazon employees will pick, pack, and ship smaller customer items such as books, toys, electronics and other household items. On top of Amazon's industry-leading minimum starting wage of $15 per hour, full-time employees receive comprehensive benefits, including full medical, vision and dental insurance as well as a 401(k) with 50 percent company match, the company said.

14:32 EDT Six Flags says Hurricane Harbor to open to public on May 22 - Six Flags Entertainment announced that Six Flags Hurricane Harbor, located next door to Six Flags Magic Mountain, plans to reopen the park to members and pass holders on May 15-16, and to the general public on May 22. "In accordance with state and county reopening guidelines for waterparks, Six Flags Hurricane Harbor will operate at reduced attendance levels utilizing the company's new reservation system," the company said.

14:07 EDT Hawaiian Electric trading resumes

13:45 EDT Brink's raises quarterly dividend 33% to 20c per share - The board of directors of The Brink's Company declared a regular quarterly dividend of 20c per share on the company's common stock, an increase of 33% from the previous quarterly dividend of 15c per share. The dividend is payable on June 1, 2021, to shareholders of record on May 17, 2021.

13:05 EDT Merck declares May 17 as record date for Organon spinoff - Merck (MRK) announced that its board of directors approved the separation of Organon & Co. (OGN) and declared a special dividend distribution of one-tenth of a share of Organon common stock for every Merck common share outstanding as of the close of business on May 17, the record date for the distribution. The company also announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by Organon. The Form 10 includes information regarding Organon's business and strategy as well as details on the spinoff, which is expected to be completed on June 2. Merck expects the special dividend of Organon stock will be distributed on June 2. The New York Stock Exchange has authorized the listing of Organon common stock under the symbol "OGN". Organon has been advised that trading in its common stock is expected to begin on a "when issued" basis on May 14, 2021, under the symbol "OGN.WI." "When issued" trading of Organon common stock will continue until Merck pays the special dividend distribution of Organon common stock on June 2, 2021. Organon "when issued" trades are expected to settle after June 2, 2021, with shares of Organon as a standalone company. Beginning on May 14, 2021, and continuing through June 2, 2021, Merck expects that common shares of Merck will trade in two markets on the NYSE: "regular-way" under the symbol "MRK" and in the "ex-distribution" market under the symbol "MRK.WI." Merck shares trading under "MRK" will carry the right to receive shares of Organon through the special dividend distribution. Merck shares trading under "MRK.WI" will not carry the right to receive shares of Organon through the special dividend distribution. Merck shareholders who sell their shares in the "regular-way" market on or before June 2, 2021, will also be selling their entitlement to receive the Organon special dividend distribution of Organon common stock. Merck shareholders are encouraged to consult with their financial advisors regarding the specific consequences of selling Merck common shares on or before June 2, 2021. On June 3, 2021, regular-way trading will commence on the NYSE for Organon under the symbol "OGN" and will continue for Merck under the symbol "MRK." "We are pleased to announce the full details of Organon's spinoff from Merck, commencing later this month. This spinoff will position Organon as a successful, independent, publicly traded company with a compelling portfolio of important medicines, particularly in women's health. Organon will have a significant impact on women's health around the world, providing benefits to patients and shareholders alike," said Rob Davis, president, Merck.

13:02 EDT Hawaiian Electric trading halted, news pending

13:01 EDT Teradyne names Paul Tufano chair of the board - Teradyne announced the board of directors has elected Paul Tufano chair of the board. Tufano is the former CEO of Benchmark Electronics and has served on the Teradyne board since 2005. He replaces former Chair Roy Vallee who has retired from the board. "Paul is a proven leader and valuable board member who has helped guide Teradyne's transformation over the past 15 years," said Mark Jagiela, Teradyne President and CEO. "I look forward to working with him in his new role as Board Chair. I also want to thank Roy for his dedicated leadership and wise counsel during his 20-year tenure on the Board."

12:38 EDT iStar CFO Jeremy Fox-Green to step down - iStar announced that CFO Jeremy Fox-Geen will be leaving iStar this month to join a company in the cryptocurrency infrastructure space. Jay Sugarman, CEO, commented, "Given our strong capital markets and investor relations teams, as well as our deep accounting and tax teams, we will not seek a replacement in the near term, while we continue to execute upon our strategy of scaling the ground lease ecosystem and ensuring the full value of our portfolio is recognized by investors."

12:00 EDT Gannett falls -15.6% - Gannett is down -15.6%, or -70c to $3.80.

12:00 EDT Centerra Gold falls -30.7% - Centerra Gold is down -30.7%, or -$3.03 to $6.83.

12:00 EDT Cooper-Standard rises 18.2% - Cooper-Standard is up 18.2%, or $5.20 to $33.81.

11:23 EDT Science 37 to come public in $1.05B merger with LifeSci Acquisition II - Science 37 and LifeSci Acquisition II (LSAQ), a blank check company, announced that they have entered into a definitive business combination agreement. Upon closing of the proposed transaction, the combined company will operate as Science 37 and is expected to be listed on the Nasdaq under the ticker symbol "SNCE". The proposed transaction values Science 37 at an initial enterprise value of approximately $1.05B and will provide the combined company with approximately $250M of cash. Founded in 2014, Science 37 provides customers "with a platform to empower clinical research while optimizing the experience and outcomes for patients and researchers." The transaction also includes up to $125M of additional contingent consideration to existing shareholders of Science 37 subject to the achievement of certain aftermarket stock price targets. The transaction is expected to deliver approximately $280M of gross proceeds, including the contribution of up to $80M of cash held in LifeSci's trust account and $200M from a fully committed private placement in public equity funding from a group of "leading institutional and healthcare investors" Pro forma for the business combination and the PIPE, legacy shareholders of Science 37 and employees of the company will own approximately 77% of the public company. The deal expected to close in Q3 of 2021.

10:38 EDT Illinois Tool Works board approves $3B share repurchase program - The Board approved a new share repurchase program that authorizes management to buy back up to $3B of the Company's common stock over an open-ended period of time. The full authorization represents approximately 13 million shares based on ITW's closing share price on May 6, 2021. The Company's existing share repurchase authorization of $3B was announced in August 2018 and has approximately $1B remaining in that program as of March 31, 2021.

10:00 EDT Shake Shack falls -14.6% - Shake Shack is down -14.6%, or -$15.41 to $90.21.

10:00 EDT Cooper-Standard rises 13.1% - Cooper-Standard is up 13.1%, or $3.76 to $32.37.

10:00 EDT Bill.com rises 17.3% - Bill.com is up 17.3%, or $22.55 to $152.88.

09:47 EDT Gannett falls -14.2% - Gannett is down -14.2%, or -64c to $3.86.

09:47 EDT PlayAGS rises 10.5% - PlayAGS is up 10.5%, or 91c to $9.61.

09:47 EDT Bill.com rises 16.8% - Bill.com is up 16.8%, or $21.94 to $152.27.

09:37 EDT Teradata trading halted, volatility trading pause

09:29 EDT Diana Shipping announces time charter contract for M/V Myrsini - Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Bocimar International N.V., for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is $27,750 per day, minus a 5% commission paid to third parties, for a time charter period until minimum October 15, 2021 up to maximum November 30, 2021. The charter is expected to commence on May 10, 2021. The m/v Myrsini is currently chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of $11,500 per day, minus a 5% commission paid to third parties. The "Myrsini" is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010. The employment of "Myrsini" is anticipated to generate approximately $4.3M of gross revenue for the minimum scheduled period of the time charter.

09:23 EDT Quisitive Technology completes acquisition of BankCard USA - Quisitive Technology Solutions announces the closing of its acquisition of BankCard USA Merchant Services, an established all-in-one merchant payment services provider. The Transaction was previously announced on March 29, 2021. The acquisition of BankCard is expected to be transformational for Quisitive's Payment Solutions business. With annual transaction volumes of $3B across its portfolio of 7,000 merchants yielding $31.4M in 2020 unaudited revenue contribution and unaudited adjusted EBITDA of $11.3M, BankCard aligns with Quisitive's inorganic growth strategy and adds to the financial strength of the Company. With the impending full commercialization of LedgerPay, slated for the summer of 2021, this Transaction augments the business with a robust merchant portfolio, a team of payments experts, and additional synergies. BankCard also delivers valuable payments IP to the Quisitive portfolio. AgeChecker is a software solution that provides independent online age verification and significantly boosts security authentication for age-restricted purchases. This will be a powerful asset in conjunction with Quisitive LedgerPay's top-of-the-line information security practices and advanced ISO certifications BankCard will integrate its team of 40+ members, including a strong insides sales team and customer services and risk management experts, to the Quisitive Payments Solution business. As Quisitive moves to redefine modern payments through a growing suite of merchant and payments solutions, the Company believes this transaction will fuel critical growth. In connection with closing of the Transaction, the escrow release conditions in respect of an aggregate of 41,743,333 subscription receipts of the Company issued on April 8, 2021 at a price of $1.50 per Subscription Receipt were satisfied and the net proceeds from the Subscription Receipt Financing were released to the Company which were used to partially fund the cash portion of consideration payable under the Transaction. Each Subscription Receipt automatically converted today into one share of the Company for no additional consideration. Trading in the Subscription Receipts has been halted on the TSX Venture Exchange and the Company expects that the Subscription Receipts will be delisted from the TSXV after the close of markets on Monday May 10, 2021.

09:12 EDT Centene names Drew Asher as CFO, succeeding Jeffrey Schwaneke - Centene announced that Drew Asher is appointed Executive Vice President and CFO, effective May 7. He will report to Michael Neidorff, Centene Chairman, President and CEO. Asher is succeeding Jeffrey Schwaneke, who is rotating to the role of Executive Vice President of HealthCare Enterprises, in line with the company's rotation practice as part of our executive development. Schwaneke will report to Sarah London, President, Health Care Enterprises and Executive Vice President, Advanced Technology, HealthCare Enterprises. Asher joined Centene in conjunction with the closing of the WellCare acquisition in January, 2020 and has served as Executive Vice President, Specialty. Prior to joining Centene, Asher served as CFO of WellCare for six years and oversaw all aspects of the finance organization.

09:08 EDT Groupon: Local billings in NA are tracking at 71% of 2019 levels - International Local billings are tracking at ~35% of 2019 levels, Groupon said.

09:06 EDT Groupon on track to realize $225M of run rate savings from restructuring actions - Comments taken from Q1 earnings conference call presentation slides.

09:03 EDT Borqs Technologies completes $23M private placement - Borqs Technologies reported that the Company has completed sales of $15.3 million in convertible notes to institutional and individual investors as of May 5, 2021, which in addition to $7.7 million sold to the same investors in February and April, totaled $23 million. The notes have a two-year term and an annual interest rate of 8%. The conversion price was reset to $0.972 per share, which was 90% of the closing price on the day effectiveness of registration was declared. The Company also issued 11,695,906 five-year warrants with an exercise price of $2.222 per share and 2,521,008 five-year warrants with an exercise price of $1.540 per share. The shares underlying the notes and warrants were registered for resale in the Company's registration statement on Form F-1. Proceeds will be used for the procurement of orders the Company expects to receive from its existing customers and new customers this year and also for development of the next generation 5G products. The Company is experiencing a recovery of business activities in 2021 from the COVID-19 effected levels of 2020, and is engaging new customers. The proceeds will also be used to invest into the Borqs "Huzhou 5G Project" for a R&D center and manufacturing facilities to be completed within the second calendar quarter of 2021.

09:02 EDT Redwood Trust appoints Brooke Carillo as CFO - Redwood Trust appointed Brooke Carillo as its next CFO in May. Carillo most recently served as Head of Corporate Strategy at Annaly Capital Management. Carillo also previously worked as part of the Financial Institutions Group at Bank of America Merrill Lynch. Collin Cochrane, current CFO, will continue in that capacity until Carillo's role commences, at which time he will take on the role of Chief Accounting Officer.

08:51 EDT Choice Hotels reinstates dividend of 22.5c per share, share repurchase program - Choice Hotels has declared a cash dividend on the company's common stock of 22.5c per share, payable on July 16 to stockholders of record on July 1. In addition, the Board approved the resumption of the company's share repurchase program, which has 3.4 million shares authorized for repurchase.

08:39 EDT Nikola nears completion of second batch of nine beta Nikola Tre BEVs in Germany - The company stated, "Commissioning and validation activities continue on the Nikola Tre battery-electric vehicle. As expected in a new program development cycle, we have had to overcome some component level delays which we have worked through with our suppliers to minimize the impact on the scheduled timeline. Q1 activities included commissioning the first batch of five Tre BEVs and validation testing at the proving grounds. As of today, powertrain performance and durability testing have started at the proving grounds. We are nearing completion of the second batch of nine beta Nikola Tre BEVs in Ulm, Germany. As of today, we have completed eight of the nine trucks, with the ninth scheduled to be completed by May 10. Three trucks from the second batch of nine are at Nikola's headquarters in Arizona, one is in Indiana for crash testing, and four are in transit to the HQ in Arizona. We anticipate that the four trucks in transit, in addition to the ninth truck being completed, will arrive at our HQ by the end of May. As of May 7, Nikola and IVECO have nearly completed the building modifications of the joint venture manufacturing facility. The dismantling and building restructuring have been completed. The automatic guided vehicle system installation is ongoing and is expected to be completed over the next few weeks. The tool and equipment installation of the 14 separate workstations should be completed by the end of the month. Nikola is on track to begin the start of trial production in June 2021. During the first quarter of 2021, Nikola continued to make progress at the greenfield manufacturing facility in Coolidge, Arizona. The building has been substantially enclosed with the floor slab, roofing, and walls complete. The electrical and mechanical construction and installation is nearing completion and the manufacturing equipment is beginning to be installed. The road paving is ongoing and utilities have been installed. As we begin vehicle trial builds at the facility in July, Nikola will concurrently be building out the Phase 1 assembly expansion area at Coolidge. Nikola's technicians are in Ulm building second batch Nikola Tre BEV betas and Nikola Tre fuel-cell electric vehicle alphas, and by the end of Q2 2021 will come to Arizona to build trucks at the Coolidge facility. Nikola has also begun the assembly of the first Tre FCEV alpha in Coolidge."

08:33 EDT Nikola outlines goals for 2021 - Nikola looks forward to achieving the following milestones in 2021: Start of vehicle trial production at the JV manufacturing facility at IVECO's industrial complex in Ulm, Germany in June 2021; Start of vehicle trial production at the greenfield manufacturing facility in Coolidge, Arizona in July 2021; Break ground on our first commercial hydrogen station; Announce additional hydrogen infrastructure/ecosystem partners; Announce additional fleet testing customers; and Deliver the first Nikola Tre BEVs to customers during the fourth quarter of 2021.

08:32 EDT KP Tissue sees Q2 adjusted EBITDA in the same range as Q2 - Considering the continued risk and uncertainties associated with the COVID-19 recovery and the impacts it could have on sales volumes, along with significantly higher pulp prices, Q2 2021 Adjusted EBITDA is expected to be in the same range as Q1 2021.

08:20 EDT FluroTech announces extension to early warrant exercise incentive program - FluroTech is pleased to announce that, further to its news release dated April 12, 2021, it has received TSX Venture Exchange approval to extend the exercise the period of the Company's Early Warrant Exercise Incentive Program intended to encourage the early exercise of up to 18,550,000 Warrants from May 7, 2021 to May 12, 2021, as further described below. In January of 2021, FluroTech closed, in two tranches, a non-brokered private placement of units for aggregate gross proceeds of $2,531,000. Each Unit comprised one common share in the capital of FluroTech and one Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.22 per share for a period of 12 months from the date such Warrant was issued; provided that, if the closing price of the Common Shares as quoted on the Exchange on any five consecutive trading days is greater than $0.395 per Common Share, FluroTech may provide notice in writing to the holders of the Warrants by issuance of a press release that the expiry date of the Warrants will be accelerated to the 15th day after the date on which FluroTech issues such press release. FluroTech has had the ability to trigger the Early Acceleration since the end of January 2021, but is opting to pursue a voluntary implementation of the EWEIP in an effort to recognize shareholder loyalty. As the Company moves toward its commencement of clinical trials and in order to further accommodate the early exercise of Warrants, the Company has extended the EWEIP to enable the holders to receive Incentive Warrants for each Warrant exercised prior to May 7, 2021 at the price of $0.22 per Warrant. The expiry date for the EWEIP Warrants has been extended until May 12, 2021. All other terms and conditions of the Warrants remain unchanged.

08:18 EDT America First Multifamily Investors announces new unit repurchase program - America First Multifamily Investors announced that the board of managers of Greystone AF Manager, which is the general partner of the partnership's general partner, has authorized a new program for the repurchase of up to 254,794 of the partnership's outstanding Beneficial Unit Certificates representing assigned limited partnership interests. Among other purposes of the program, repurchases are intended to cover awards of Restricted Unit Awards under the Partnership's 2015 Equity Incentive Plan to employees of the Partnership, or affiliates of the partnership, or board members. Under the terms of the repurchase program, BUCs may be repurchased from time to time at the partnership's discretion on the open market, through block trades, or otherwise, subject to market conditions, applicable legal requirements, and other considerations. The authorization is effective immediately, and the program will continue until otherwise modified or terminated by the board in its sole discretion and without notice. The repurchase program does not obligate the partnership to repurchase any specific dollar amount or number of BUCs and may be suspended or discontinued at any time.

08:17 EDT Immutep expects to deliver final INSIGHT-004 data at ASCO 2021 - The INSIGHT-004 study is expected to deliver final data at ASCO 2021 in a poster discussion. INSIGHT-004 is the fourth arm of the INSIGHT trial which is being conducted in collaboration with Merck KGaA, Darmstadt, Germany and Pfizer Inc.

08:16 EDT Canadian National receives support for combination with Kansas City Support - CN (CNI) announced that it has continued to receive support from customers, suppliers, elected officials and other stakeholders for its proposed combination with Kansas City Southern (KSU). One-hundred additional letters have been sent to CN and filed with the Surface Transportation Board in favor of CN's proposed combination with KCS, its use of a voting trust, or both, bringing the total number of support letters CN has received to well over 800. CN will continue to communicate and engage with its customers and various stakeholders as it works towards an agreed transaction with KCS.

08:14 EDT Immutep on track to report OS data from AIPAC Phase IIb trial in 2H21 - The Company is on track to report final overall survival (OS) data from this metastatic breast cancer trial in H2 of calendar year 2021. Currently the trial has reached approximately 72% of events, indicating 72% of total patients with this late-stage cancer had been followed through until death. Immutep previously reported an improving OS trend from initial data from approximately 60% of events at the San Antonio Breast Cancer Conference in December 2020.

08:12 EDT Arbor Realty board declares quarterly cash dividend of 34c per share - The Company announced that its Board of Directors has declared a quarterly cash dividend of $0.34 per share of common stock for the quarter ended March 31, 2021, representing a 13.3% increase from a year ago. The dividend is payable on June 1, 2021 to common stockholders of record on May 21, 2021. The ex-dividend date is May 20, 2021

08:11 EDT Cinemark reaches agreement to showcase films from five major studio partners - Cinemark announced it has reached agreements to theatrically showcase films from all five major studio partners across its U.S. theatres. This announcement builds upon the exhibitor's November agreement with Universal Filmed Entertainment Group and includes agreements with Warner Bros. Picture Group, The Walt Disney Company, Paramount Pictures and Sony Pictures Entertainment. Collectively, these agreements secure a consistent supply of content.

08:09 EDT PriceSmart reports April comparable net merchandise sales up 25.3% - PriceSmart reported that net merchandise sales in April increased 22.0% to $263.4M from $216.0M in April a year earlier. Foreign currency exchange fluctuations impacted net merchandise sales negatively by 1.6%, or $3.4M, versus the same one-month period in the prior year. There were 47 warehouse clubs in operation at the end of April 2021 and 45 warehouse clubs in operation at the end of April 2020. For the four weeks ended April 25, 2021, comparable net merchandise sales for the 45 warehouse clubs open at least 13 1/2 full months increased 25.3% when compared to the same period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 1.7%, or $3.4M, versus the same period in the prior year.

08:07 EDT Construction Partners maintains FY21 outlook - Fred Smith, III, the company's President and CEO, said, "In the second fiscal quarter, revenue grew 6.2% compared to the second fiscal quarter last year. While adverse weather caused significant project delays in the second quarter, we plan to make up that volume in the second half of our fiscal year. As we have stated before, historically we have generated approximately 40% of our annual revenue in the first half of the fiscal year and approximately 60% in the second half. Halfway through fiscal 2021, we are roughly in line with our historical pattern, even with the weather delays. More importantly, we are very pleased with our record high project backlog of $773.3 million at the end of the quarter. As we move into the seasonally stronger second half of our fiscal year, we continue to see strength in infrastructure funding programs and project lettings across our markets. In light of these positive conditions, we are maintaining our outlook for fiscal 2021."

08:04 EDT Ocuphire Pharma announces anticipated future milestones - Key Anticipated Future Milestones: Presbyopia: Top-line data expected end of Q2 2021 for Phase 2 VEGA-1 trial investigating a kit combination of Nyxol and low-dose 0.4% pilocarpine; Reversal of Mydriasis: Presenting Phase 3 MIRA-2 results at the 2021 American Society of Cataract and Refractive Surgeons conference in Las Vegas in July; Night Vision Disturbances: Top-line data expected end of Q3 2021 for pivotal Phase 3 LYNX-1 trial investigating Nyxol ; Reversal of Mydriasis: Planning to initiate second Phase 3 MIRA-3 registration trial in 2H 2021 investigating Nyxol with results expected in early 2022 ; Diabetic Retinopathy and Diabetic Macular Edema: Completion of enrollment in Phase 2 ZETA-1 trial investigating APX3330 with top-line data expected early 2022.

08:01 EDT Telus CEO 'looking ahead to friendlier future' - In a letter, Telus CEO Darren Entwistle said, "In the 12 months since my last letter, your Company has continued to direct our human and technological innovation toward providing the tools, resources, information and care necessary to keep our fellow citizens, customers and communities - globally - connected, productive, safe and healthy amidst the global pandemic. TELUS has successfully navigated the evolving health crisis and subsequent public health measures by remaining focused on the cornerstone of our leadership in social capitalism: leveraging our world-leading technology and human compassion to enable remarkable outcomes in the communities where we live, work and serve. To date, TELUS, our team members and retirees, as well as our friends and family members, have committed $150 million in support of COVID-19 relief efforts for the benefit of the many stakeholders we serve. Since the onset of the pandemic, we have offered more support to our communities than any other Canadian organisation and it is my privilege to share some of the highlights in this regard...We are hopeful that the second half of 2021 will present a multitude of opportunities for our customers and fellow citizens to reconnect and re-engage in a truly meaningful way. Over the course of the past year, we have seen the incredible accomplishments that are possible when we come together to amplify the good we can do in helping our fellow citizens in need. This is why we evolved our brand promise to invite others to join us in progressing a stronger, healthier and more caring planet. Indeed, rather than declaring that the future is friendly, our refreshed brand promise - Let's make the future friendly - welcomes everyone to join us as we strive to make the world a better place. There is hope on the horizon and our TELUS team is privileged to offer our support in helping to connect citizens to this friendlier future. Indeed, you can count on the 100,000 TELUS team members and retirees around the globe to provide unparalleled levels of connectivity, caring and service excellence for you and your loved ones in 2021 and well beyond. On behalf of the TELUS team, thank you for your patronage, partnership and support."

07:48 EDT Black Diamond Therapeutics expects cash to fund operations into 2023 - Black Diamond ended the first quarter of 2021 with $290.1 million in cash, cash equivalents, and investments compared to $357.2 million as of March 31, 2020. Net cash used in operations was $24.5 million for the first quarter of 2021 compared to $11.3 million for the first quarter of 2020.

07:47 EDT Amazon.com invests in British Columbia to create more than 2,000 jobs - Amazon announced its continued investment in British Columbia's economy and Metro Vancouver through an expansion that includes five new buildings: a fulfillment centre, sortation centre and three delivery stations. The investment will create more than 2,000 safe jobs with competitive pay, industry-leading benefits and career growth opportunities starting on day one. Amazon is launching give new sites in British Columbia: Vancouver - A 450,000 square-foot advanced robotics fulfillment centre in the Port of Vancouver will launch in late 2021. This is Amazon's first robotics fulfilment centre in the province and it will create 1,000 jobs. City of Langley - A new sort centre that will open later in 2021, creating more than 500 jobs. Langley Township - A delivery station that celebrated its day one launch in mid-February, creating 200 jobs. Pitt Meadows - A delivery station will open later in 2021, creating hundreds of jobs. Delta - A delivery station will open later in 2021, creating hundreds of career opportunities.

07:46 EDT Inozyme presents preclinical data on INZ-701 for treating ABCC6 deficiency - Inozyme Pharma presented preclinical data suggesting the utility of its lead clinical development candidate, INZ-701, as a potential treatment for ABCC6 Deficiency. The data, presented at the virtual European Calcified Tissue Society Annual Congress, are the first to show that an enzyme replacement therapy increased plasma pyrophosphate levels and reduced calcification in an animal model of ABCC6 Deficiency. This study was performed in collaboration with Thomas Jefferson University. Subcutaneous administration of INZ-701 was initiated in ABCC6-deficient mice at five to six weeks of age, the time where initiation of ectopic mineralization in this model is observed. INZ-701 led to a dose-dependent increase in plasma PPi levels at both two and eight weeks after initiation of treatment, leading to significantly lower levels of soft tissue mineralization. Histopathologic examination of tissue biopsies from vehicle-treated mice revealed extensive mineralization in the muzzle skin containing vibrissae, a biomarker of the mineralization process in this model. Compared to vehicle-treated mice, a quantitative calcium assay demonstrated that the amount of calcium in muzzle skin biopsies was reduced by 68% and 74% in mice receiving INZ-701 at dose levels of 2 and 10 mg/kg, respectively.

07:38 EDT CGI Inc. selected to provide data center and IT services to Finnish government - CGI has been selected by Hansel, which operates the central procurement unit of the Finnish Government, to serve as the largest IT operating services provider to the Finnish public sector. CGI will be responsible for the data center and hybrid IT services used by numerous ministries, government agencies, cities and other public administration organizations. The total value of the eight-year framework agreement is approximately EUR384M. The majority of the services are provided to Valtori, which is responsible for government information and communication technology services that meet high availability and security requirements. In total, the agreement covers Valtori and the dozens of organizations it serves, as well as more than 20 other public administration organizations.

07:36 EDT KemPharm announces SDX classified as schedule IV controlled substance by DEA - KemPharm announced that serdexmethylphenidate, or SDX, KemPharm's proprietary prodrug of d-methylphenidate and the primary active pharmaceutical ingredient in AZSTARYS, has been classified as a Schedule IV controlled substance by the Drug Enforcement Administration. AZSTARYS is classified as a Schedule II controlled substance as it includes a 70:30 mixture of SDX and d-MPH, respectively. According to the "Schedules of Controlled Substances: Placement of Serdexmethylphenidate in Schedule IV," which has been published in the Federal Registe, the DEA concluded that SDX meets the 21 U.S.C. 812b4 criteria for placement in schedule IV of the Controlled Substances Act. This determination was based on an eight-factor analysis of the abuse potential, legitimate medical use, and dependence liability of SDX by the U.S. Department of Health and Human Services, which concluded that "SDX is related in action and effect to the schedule IV substance phentermine, and can therefore be expected to have a similar potential for abuse." Per the License Agreement, as amended, with an affiliate of Gurnet Point Capital, KemPharm has earned a $10M milestone payment which is payable within 30 days following the scheduling determination of SDX by the DEA.

07:35 EDT PFSweb on track to achieve 2021 outlook - CEO Mike Willoughby continued: "In LiveArea, our sales bookings have recovered from the lows of the pandemic and now more fully reflect the benefits of our strategic investments in the business. We experienced some initial project delays and bookings softness last year due to COVID-19-related uncertainties, but have since continued generating strong demand as prospects began to ramp their digital capabilities in response to elevated eCommerce trends. Our high-performance sales team and leadership have worked tirelessly to build our pipeline and execute on the previously booked engagements that are starting to come online. Our PFS business continued to experience meaningful growth as compared to the prior year, driven primarily by strong fulfillment volumes in support of our clients' eCommerce activity. Bookings in PFS also accelerated during Q1, in which we generated our highest level of bookings since Q2 2019. While our margins remain pressured by COVID-19 safety measures and increased frontline labor rates, we are committed to protecting our team and serving as a flexible partner for our existing brands' fulfillment needs. We have quickly ramped operations in our newest fulfillment center in Las Vegas and we will continue working to optimize our capacity across our global distribution footprint. As a further extension of our successful holiday season, we have agreed to expand our deployment of RetailConnect for one of our clients from five stores to more than 30 by the end of Q2. Our operational agility will allow us to continue adapting to our clients' needs and fulfilling high customer order volumes, whether in-store or in our facilities. With momentum continuing in both business units, we remain on track to achieve our 2021 outlook, which includes targets for year-over-year service fee revenue growth within the 10-15% range for LiveArea and 5-10% range for PFS, as well as moderate adjusted EBITDA margin expansion. I am proud of how well we have performed in these first few months of 2021 and look forward to continuing our work into the rest of the year."

07:33 EDT Motus GI Holdings announces publication of Pure-Vu System cost effectiveness - Motus GI Holdings announced the publication of new data from a cost effectiveness and resource allocation analysis of the Pure-Vu System on the outcomes of cost, quality of life, and aversion of colorectal cancers, or CRC, as compared to the current standard of care, or SOC, for outpatient colonoscopy in the peer-reviewed journal Cost Effectiveness and Resource Allocation. Sponsorship of analysis and development of the manuscript was provided by Motus GI. The article, which is titled, "Colonoscopy in poorly prepped colons. A cost effectiveness analysis comparing standard of care to a new cleansing technology," concludes that using the Pure-Vu System to improve bowel prep could generate significant savings for the U.S. healthcare system, while potentially ensuring a similar quality of life and reducing the incidence of CRCs. The article estimates approximately 3.75M patients present as inadequately prepared for colonoscopies per year, as calculated based on an estimated 15M colonoscopies performed annually in the U.S., and an estimated 25% of patients presenting as inadequately prepared for colonoscopies.

07:28 EDT Nasdaq approves Bitfarms application to list - Bitfarms announces Bitfarms' application to list its common stock on the Nasdaq Global Market was approved by The Nasdaq Stock Market under the symbol "BITF". Bitfarms will also retain its listing on the TSX Venture Exchange under the symbol "BITF". The ticker used for Bitfarms' securities traded over-the-counter under the current symbol "BFARF" will transfer to the new ticker symbol "BITF" on the first day of trading on The Nasdaq Stock Market. Furthermore, as of today, Bitfarms is the first publicly traded Bitcoin miner to announce it will be trading on The Nasdaq Global Market tier. The last remaining requirement prior to listing and trading on the Nasdaq is to confirm Bitfarms' common shares are eligible for electronic clearing and settlement through the Depository Trust Company.

07:24 EDT So-Young board authorizes $70M share repurchase program - The company said, "To demonstrate the Company's confidence in its long-term prospects, So-Young's board of directors has today authorized a share repurchase plan under which the Company may repurchase up to $70M of its shares over the next 12 months. The share repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. So-Young's board of directors will review the share repurchase plan periodically, and may authorize adjustment of its terms and size. The Company expects to fund repurchases made under this plan from its existing cash balance."

07:23 EDT Aclaris Therapeutics expects cash to fund through end of 2023 - As of March 31, 2021, Aclaris had aggregate cash, cash equivalents and marketable securities of $142.7M compared to $54.1M as of December 31, 2020. Aclaris anticipates that its cash, cash equivalents and marketable securities as of March 31, 2021 will be sufficient to fund its operations through the end of 2023, including estimated costs for the Phase 2b trial of ATI-450 for moderate to severe rheumatoid arthritis and the planned expansion of its Phase 2 immuno-inflammatory clinical development programs for hidradenitis suppurativa and psoriatic arthritis, without giving effect to any potential business development transactions or financing activities.

07:22 EDT AMC Networks announces changes to segment reporting - In the first quarter of 2021, the Company changed its presentation of operating segments, reflecting a reorganized operating structure focused on a multi-platform distribution approach to content monetization. The Company's streaming services and IFC Films, previously included in the International and Other segment, are now included within the Domestic Operations segment. In addition, certain corporate overhead costs are no longer allocated to the operating segments. Operating segment information for the prior period has been recast to reflect these changes. The new reporting structure consists of the following two operating segments: Domestic Operations: Includes activities of our five national programming networks, our streaming services, our AMC Studios operation, IFC Films and AMC Broadcasting & Technology. Our national programming networks are AMC, WE tv, BBC AMERICA, IFC, and SundanceTV. Our streaming services consist of our targeted subscription streaming services, AMC+ and other streaming initiatives. Our AMC Studios operation produces original programming for our programming networks and also licenses such programming worldwide. IFC Films is our film distribution business and AMC Networks Broadcasting & Technology is our technical services business, which primarily services most of the national programming networks. International and Other: Includes AMC Networks International, our international programming businesses consisting of a portfolio of channels around the world and 25/7 Media Holdings, our production services business.

07:13 EDT Akouos appoints Kathy Reape as Chief Development Officer - Akouos announced the appointment of Dr. Kathy Reape as chief development officer. Reape brings over 20 years of experience in the pharmaceutical industry to Akouos. Reape was most recently Chief Medical Officer at Spark Therapeutics where she oversaw clinical development, pharmacovigilance, and medical affairs activities

07:10 EDT Acasti Pharma to acquire Grace Therapeutics, terms not disclosed - Acasti Pharma announces it has entered into a definitive agreement to acquire Grace Therapeutics a privately held emerging biopharmaceutical company focused on developing innovative drug delivery technologies for the treatment of rare and orphan diseases. Subject to the completion of the Proposed Transaction, Acasti will acquire Grace's pipeline of drug candidates addressing critical unmet medical needs with the potential to deliver significant value to patients and providers. It is anticipated that the cash at closing of about $64M will be principally used to pursue the clinical development of the first two assets through Phase 3, and further advance earlier pipeline assets into the clinic. The Proposed Transaction has been approved by the boards of directors of both companies and is supported by Grace shareholders through voting and lock-up agreements with the Company. The transaction remains subject to approval of Acasti stockholders, as well as applicable stock exchanges. The Company has posted a presentation summarizing key highlights of the transaction, which is available on both the Acasti and Grace websites. Acasti plans to file the required Form S-4 proxy statement with the U.S. Securities & Exchange Commission, which will include detailed disclosures regarding the transaction. Following the filing of the required Form S-4, Acasti and Grace management plan to host an investor conference call to further discuss the anticipated benefits of the acquisition and answer investor questions. Acasti will call a shareholder meeting to approve the transaction following the public filing of the Form S-4 proxy statement. As the Proposed Transaction moves forward, Acasti continues to evaluate strategic options for value creation from its existing assets. In connection with the Proposed Transaction, Acasti will acquire Grace's entire therapeutic pipeline consisting of three unique clinical stage and multiple pre-clinical stage assets supported by an intellectual property portfolio consisting of more than 40 granted and pending patents in various jurisdictions worldwide. Grace's product candidates aim to improve clinical outcomes by applying proprietary formulation and drug delivery technologies to existing pharmaceutical compounds to achieve improvements over the current standard of care or provide treatment for diseases with no currently approved therapy. Grace's three lead programs have all received Orphan Drug Designation1 from the U.S. Food & Drug Administration, which could provide up to seven years of marketing exclusivity in the United States upon FDA's approval of the New Drug Application provided that certain conditions are met. Grace's Leading Drug Assets: GTX-104: Subarachnoid Hemorrhage- Intravenous Infusion: Clinical stage: PK Bridging study results expected Q1'22; Phase 3 Safety Study expected to start enrollment Q3'22. GTX-102: Ataxia-telangiectasia - Oral Mucosal Spray: Clinical stage: PK Study results expected 2H'22; start of Phase 3 expected 1H'23. GTX-101: Post Herpetic Neuralgia - Topical Spray: Clinical Stage: Phase 1 results expected 2H'22; start of Phase 2 expected 2H'22. Upon shareholder approval of the Proposed Transaction, the combined companies will be led by Jan D'Alvise as president and chief executive officer, and the corporation will continue to maintain its corporate headquarters in Laval, Quebec, Canada. All Grace employees will transition to Acasti and they will continue to maintain an R&D laboratory and commercial presence in North Brunswick, New Jersey. The new Board of Directors will be composed of 4 representatives from Acasti and 3 from Grace, with more details to be provided in the proxy statement. Pending approval by Acasti shareholders as well as applicable stock exchange approvals, Grace will merge with a new wholly owned subsidiary of Acasti. Grace stockholders will receive newly issued Acasti common shares pursuant to an exchange ratio formula set forth in the definitive agreement. Under the terms of the definitive agreement, immediately following the consummation of the Proposed Transaction, Acasti's securityholders on a pro forma basis would own approximately 55% of the combined company's common shares, and Grace's securityholders would own approximately 45% of the combined company's common shares, in each case calculated on a fully-diluted basis, subject to upward adjustments in favor of Acasti based on each company's capitalization and net cash balance as set forth in the definitive agreement, with more details to be provided in the proxy statement. For illustrative purposes, assuming no adjustments for each company's capitalization and net cash balance, and based on 208,375,549 common shares of Acasti currently issued and outstanding, an aggregate of 170,489,086 common shares of Acasti would be issued to Grace stockholders as consideration for the Proposed Transaction. The Proposed Transaction is expected to close in calendar Q3 of 2021, immediately following approval by Acasti shareholders, subject to any applicable SEC review and stock exchange approvals, as well as satisfaction of other closing conditions by each company specified in the definitive agreement. Acasti will take steps to regain compliance with Nasdaq's minimum bid price requirements in connection with the Proposed Transaction, and if required, would implement a share consolidation.

06:54 EDT Fluor: NuScale Power has engaged Guggenheim to explore financing options - Fluor announced that NuScale Power, in which Fluor is the majority investor, has retained Guggenheim Securities to explore financing options to accelerate the commercialization of NuScale's groundbreaking small modular reactor technology. Fluor has been actively engaged with potential strategic investors in NuScale since 2013, and recent milestones have been achieved which have rapidly increased the number of interested parties. It is expected that any potential proceeds raised through this process would be used by NuScale to accelerate and expand its SMR development program including those elements currently supported by a U.S. Department of Energy cost-share award. Fluor and its partners will continue to provide engineering services, project management and supply chain support to NuScale as part of any contemplated future projects.

06:47 EDT Pfizer, BioNTech initiate rolling submission of BLA for mRNA vaccine approval - Pfizer (PFE) and BioNTech (BNTX) announced the initiation of a Biologics License Application with the U.S. FDA for approval of their mRNA vaccine to prevent COVID-19 in individuals 16 years of age and older. Data to support the BLA will be submitted by the companies to the FDA on a rolling basis over the coming weeks, with a request for Priority Review. The Prescription Drug User Fee Act goal date for a decision by the FDA will be set once the BLA is complete and formally accepted for review by the agency. Pfizer and BioNTech also have submitted an application to expand the current EUA for their COVID-19 vaccine to include individuals 12 to 15 years of age. The companies intend to submit a supplemental BLA to support licensure of the vaccine in this age group once the required data six months after the second vaccine dose are available.

06:33 EDT Third Point discloses new long position in CoStar Group in investor letter - In its first quarter 2021 investor letter dated May 6, Third Point stated in part: "During the First Quarter, Third Point returned +11.0% in the flagship Offshore Fund. For the month of April, the Offshore Fund returned +1.7. The top five winners for the quarter were Upstart Holdings (UPST), SentinelOne, Social Finance (IPOE), Intel (INTC) and Prudential plc (PUK)... We took advantage of the volatility in growth stocks during Q1 to establish a new long position in CoStar Group (CSGP) - the leading technology vendor serving the commercial real estate industry. We think CoStar is an exceptionally high-quality "compounder" in the early innings of a transformational new opportunity which could meaningfully accelerate earnings growth. We also believe the business will be a direct beneficiary of the impending wave of COVID-induced disruption in the CRE market."

06:05 EDT AstraZeneca Imfinzi demonstrates OS benefit in POSEIDON trial for NSCLC - The company states: "POSEIDON was a Phase III trial of AstraZeneca's Imfinzi plus platinum-based chemotherapy or Imfinzi, tremelimumab and chemotherapy versus chemotherapy alone in the 1st-line treatment of patients with Stage IV (metastatic) non-small cell lung cancer. Positive high-level results from the final analysis of POSEIDON showed the combination of Imfinzi, tremelimumab and chemotherapy demonstrated a statistically significant and clinically meaningful overall survival, or OS, benefit versus chemotherapy alone. This immunotherapy combination also demonstrated a statistically significant improvement in progression-free survival versus chemotherapy alone, as previously reported in October 2019. Patients in this arm were treated with a short course of tremelimumab, an anti-CTLA4 antibody, over a 16-week period in addition to Imfinzi and standard chemotherapy. The Imfinzi plus chemotherapy arm demonstrated a statistically significant improvement in PFS versus chemotherapy in the previous analysis, but the OS trend observed in this analysis did not achieve statistical significance. Patients in the control arm were treated with up to six cycles of chemotherapy, while those in the experimental arms were treated with up to four cycles. Each combination demonstrated an acceptable safety profile, and no new safety signals were identified. The combination with tremelimumab delivered a broadly similar safety profile to the Imfinzi and chemotherapy combination and did not lead to an increased discontinuation of treatment."

05:34 EDT MoneyGram provides update on end of term of DPA - MoneyGram also reported developments as it nears the end of the term of its Deferred Prosecution Agreement, or DPA. Earlier this week, MoneyGram and the government filed a joint status report with the court in which the parties confirmed that MoneyGram has satisfied its financial obligations under the DPA and that the independent compliance monitor has certified to MoneyGram and the government that MoneyGram's anti-fraud and anti-money laundering compliance program meets the standard set forth in the DPA. In addition, the joint status report states that on May 10, MoneyGram intends to certify to the government that the company has fulfilled its obligations under the DPA, and that after the government receives this certification, and provided that the company has otherwise complied with the DPA, the Government will move to dismiss the matter underlying the DPA within 45 days of May 10.

05:25 EDT ChemoCentryx announces results from FDA Arthritis Advisory Committee meeting - ChemoCentryx announced the outcome of the FDA Arthritis Advisory Committee on avacopan for the treatment of Antineutrophil Cytoplasmic Autoantibody, or ANCA-associated vasculitis, or AAV. In the final part of the public meeting, the committee voted on three questions presented by the FDA: The committee vote split 9-9 on the first question, whether the efficacy data support approval of avacopan for the treatment of adult patients with AAV. On the second question, the committee voted 10-8 that the safety profile of avacopan is adequate to support approval of avacopan for the treatment of adult patients with AAV. In the third and final question, the committee voted 10-8 that the benefit-risk profile is adequate to support approval of avacopan at the proposed dose of 30 mg twice daily for the treatment of adult patients with AAV.

05:16 EDT Orphazyme announces ORARIALS-01 trial did not meet primary, secondary endpoints - Orphazyme announced that the ORARIALS-01 pivotal trial of arimoclomol in amyotrophic lateral sclerosis, or ALS, did not meet its primary and secondary endpoints to show benefit in people living with ALS. No important safety signals were reported in the trial. Topline data will be presented at the upcoming virtual European Network to Cure ALS meeting and complete data from the study will be published later this year. The randomized, placebo-controlled Phase 3 trial was conducted among 245 patients at 29 sites in 12 countries in North America and Europe. Participants were randomized to receive either arimoclomol or placebo for up to 76 weeks. The primary endpoint was to determine the efficacy of chronic treatment with arimoclomol compared to placebo in participants with ALS as assessed by the combined assessment of function and survival, or CAFS. This endpoint was selected to illustrate the overall treatment effect based on survival and the change in the ALS Functional Rating Scale-Revised score. Secondary endpoints included survival, change in ALSFRS-R, and slow vital capacity. Orphazyme's applications for arimoclomol for Niemann-Pick disease type C are under priority review with the FDA, with an expected PDUFA action date of June 17, as well as with the European Medicines Agency, with an opinion from the Committee for Medicinal Products for Human Use expected later this year.

05:08 EDT Ericsson, Samsung announce multi-year agreement on global patent licenses - Ericsson (ERIC) and Samsung (SSNLF) have reached a multi-year agreement on global patent licenses between the two companies, including patents relating to all cellular technologies. The cross-license agreement covers sales of network infrastructure and handsets from January 1. Furthermore, Ericsson and Samsung have agreed on technology cooperation projects to advance the mobile industry in open standardization and create valuable solutions for consumers and enterprises. This settlement ends complaints filed by both companies before the United States International Trade Commission, or USITC, as well as the ongoing lawsuits in several countries. The details of the agreement are confidential and will not be disclosed. Ericsson's IPR licensing revenues continue to be affected by several factors, mainly expired patent license agreements pending renewal, geopolitical impact on the handset market, technology shift from 4G to 5G, and possible currency effects going forward. In Q2, IPR licensing revenues, including the new agreement covering sales from January 1 are expected to be SEK 2B to SEK 2.5B.