Stockwinners Market Radar for June 18, 2021 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
GPRK | Hot Stocks18:05 EDT GeoPark responds to letter from former Chair Gerald O'Shaughnessy - GeoPark issued the following statement in response to the letter sent to the Board by its former Chair Gerald O'Shaughnessy: "Since GeoPark's inception, we have always worked to ensure we have the skills, capabilities and necessary tools to become the leading independent E&P Company in Latin America. As we have grown and matured, we have worked deliberately to strengthen our governance profile and, today, our Board has a majority of independent directors and a newly appointed independent chair, consistent with best practices. We have added two new independent directors in the last 12 months and have nominated a third independent director for election at the upcoming Annual General Meeting. We have also instituted a new Board committee with two independent members to oversee strategic matters. Our Board's continued evolution and diversification in recent years is an important and notable achievement, and one that we expect will help us build and deliver value to all shareholders. It is unfortunate that, after 18 years of service as the Chair of GeoPark's Board, Mr. O'Shaughnessy, 72, has chosen to leave the Board and disparage GeoPark with baseless claims. The Board and the management team are focused on the best interests of the company and our shareholders. We maintain an open dialogue with our shareholders and are always open to opportunities that will create value for all shareholders."
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NEWA | Hot Stocks18:02 EDT Newater Technology announces discharge of injunction against going private deal - Newater Technology announced that on June 17, the Commercial Division of the Eastern Caribbean Supreme Court in the British Virgin Islands discharged an injunction that had been obtained on March 16 on an ex parte basis by Fulcan Capital Partners. Fulcan had sought to prevent the company, the members of the board of directors, and Tigerwind Group from taking any steps to proceed with the proposed "going private" merger transaction. In response to the ex parte order, the company applied to discharge the injunction on the basis that Fulcan had breached its duty of full and frank disclosure when applying for the injunction. In discharging the injunction with immediate effect, the BVI Court accepted the company's submissions that the Court had been misled by Fulcan at the ex parte hearing on March 16. In response to the BVI Court's order, Yuebiao Li said, "Although it's too bad that we had to divert precious time and resources to fight this baseless lawsuit, we're glad to have this ex parte injunction behind us."
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CLII | Hot Stocks17:02 EDT Climate Change Crisis Real Impact I to transfer listing to Nasdaq from NYSE - Climate Change Crisis Real Impact I Acquisition Corporation announced that it intends to voluntarily transfer the listing of its shares of Class A common stock and its warrants to The Nasdaq Global Select Market from the New York Stock Exchange following the completion of its previously announced business combination with EVgo Services, which is expected to close on or around July 1, pending approval by stockholders of CLII at its special meeting for stockholders on June 29. In connection with the closing of the business combination, CLII will change its corporate name to "EVgo Inc." CLII expects its Class A common stock and warrants to commence trading on Nasdaq the day after the closing of the business combination under the symbols "EVGO" and "EVGOW," respectively. The Class A common stock and warrants will continue to trade on the NYSE until the transfer to Nasdaq is complete. The decision to list on Nasdaq was made in connection with the business combination and enables the post-combination company to be listed alongside similar companies that are also listed on Nasdaq. At the closing of the business combination, CLII will also delist its units, Class A common stock and warrants from the NYSE. The Nasdaq listing of the Class A common stock and warrants and the NYSE delisting of the units are subject to the closing of the business combination and the fulfillment of all Nasdaq listing requirements.
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BGNE | Hot Stocks16:57 EDT BeiGene announces China NMPA approval of BRUKINSA - BeiGene, Ltd. announced that BRUKINSA has received conditional approval from the China National Medical Products Administration for the treatment of adult patients with Waldenstrom's macroglobulinemia who have received at least one prior therapy. The supplemental new drug application was previously granted priority review by the Center for Drug Evaluation of the NMPA in October 2020.
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CYTR ORPH | Hot Stocks16:44 EDT CytRx notes Orphazyme regulatory update from FDA on arimoclomol - CytRx Corporation (CYTR) noted that Orphazyme A/S (ORPH) announced it has received a Complete Response Letter, or CRL, from the FDA following its review of the new drug application for arimoclomol, a heat shock protein amplifier intended for the treatment of Niemann-Pick disease type C, or NPC. CytRx's drug candidate, arimoclomol, was sold to Orphazyme in exchange for milestone payments and royalties. Orphazyme's announcement disclosed that the FDA issued the CRL based on needing additional qualitative and quantitative evidence to further substantiate the validity and interpretation of the 5-domain NPC Clinical Severity Scale and, in particular, the swallow domain. Further, the FDA noted in the CRL that additional data are needed to bolster confirmatory evidence beyond the single phase 2/3 clinical trial to support the benefit-risk assessment of the NDA. A primary endpoint of the phase 2/3 clinical trial was progression in disease severity as measured by the 5-domain NPCCSS. This is a disease-specific measure of disease progression consisting of the five clinically most relevant domains to patients with NPC, caregivers and physicians. Orphazyme CEO Christophe Bourdon stated: "We are disheartened by the outcome of the FDA's review, given the urgent need for a new therapeutic option for NPC, but we remain committed to working with the regulators, with the goal of delivering arimoclomol to families managing this challenging disease. We will focus our efforts on pursuing the European regulatory approval, with CHMP opinion expected in Q4 2021 and potential Marketing Authorization in Q1 2022. We are assessing the potential path forward in the U.S. in partnership with the FDA. In the short-term, we will need to reduce our costs substantially and freeze all company efforts not related to clinical and regulatory activities to support approval for NPC." The outcome of the FDA decision has significant influence on Orphazyme's outlook for FY21. Orphazyme's cash position at year-end 2021 is now expected to be approximately $8, where it was previously $56M.
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BA | Hot Stocks16:34 EDT Boeing completes successful 737-10 first flight - Boeing's 737-10, the largest airplane in the 737 MAX family, completed a successful first flight on June 18. The airplane took off from Renton Field in Renton, Washington, at 10:07 a.m. and landed at 12:38 p.m. at Boeing Field in Seattle. The flight was the start of a comprehensive test program for the 737-10. Boeing will work closely with regulators to certify the airplane prior to its scheduled entry into service in 2023.
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PXS | Hot Stocks16:31 EDT Pyxis Tankers announces receipt of Nasdaq notice - Pyxis Tankers Inc. announced that on June 16, 2021, it received a notification letter from the Nasdaq Stock Market, stating that, for a period of 30 consecutive business days, the company's common shares closed below the minimum bid price of $1.00 per share, as required for continued listing on Nasdaq. The company has until December 13, 2021 to regain compliance with the Minimum Bid Price Requirement. The company can cure this deficiency if the closing bid price of its common shares is $1.00 per share or higher for at least ten consecutive business days during the Compliance Period. The company intends to regain compliance with the minimum bid price requirement within the Compliance Period and is considering all available options, including a reverse stock split. During this time, the company's common shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the company's business. If the company does not regain compliance during the Compliance Period, it may be eligible for an additional 180 calendar day compliance period. If the Nasdaq staff concludes that the company will not be able to cure the deficiency or if the company is otherwise not eligible, the company's common shares will be subject to delisting by Nasdaq.
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VRTX | Hot Stocks15:39 EDT Vertex says Health Canada authorizes marketing of Trikafta for 12 and older - Vertex Pharmaceuticals announced Health Canada has granted Marketing Authorization for Trikafta for the treatment of cystic fibrosis in people ages 12 years and older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator gene, the most common CF-causing mutation. "With this approval, for the first time, approximately 1,100 eligible patients with CF ages 12 years and older who have at least one F508del mutation have a medicine that targets the underlying cause of their CF," the company stated.
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DAL | Hot Stocks15:35 EDT Delta restores service to all pre-COVID Africa markets - Delta announced in a post to its corporate news hub that the airline will make its return to South Africa with nonstop service between Atlanta and Johannesburg beginning Aug. 1, more than a year after pausing flights due to COVID-19. "The return of the airline's longest nonstop flight marks the milestone of Delta restoring service to all its pre-COVID markets in Africa, which include Accra, Ghana; Dakar, Senegal; and Lagos, Nigeria," Delta said. Reference Link
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ATHA | Hot Stocks13:17 EDT Washington State University to review claims about Athira Pharma CEO - Washington State University announced that it has undertaken a review of claims of potential research misconduct involving research conducted by Leen Kawas, a former WSU student and current president and CEO of Athira Pharma. On Thursday, the Athira Pharma board of directors announced that it had placed Kawas on temporary leave pending its own review of actions stemming from Kawas' doctoral research while at WSU. Washington State University expects its researchers to adhere to the highest ethical standards in the conduct of research activities. The University takes allegations of research misconduct very seriously. WSU is conducting its inquiry into this issue in accordance with the University's Executive Policy 33, which governs how the institution responds to allegations of research misconduct. Washington State University will refrain from discussing the matter further until the review process is complete.
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BKR | Hot Stocks13:02 EDT Baker Hughes reports U.S. rig count up 9 to 470 rigs - Baker Hughes reports that the U.S. rig count is up 9 from last week to 470 with oil rigs up 8 to 373, gas rigs up 1 to 97, and miscellaneous rigs unchanged at 0. The U.S. Rig Count is up 204 rigs from last year's count of 266, with oil rigs up 184 gas rigs up 22 and miscellaneous rigs down 2. The U.S. Offshore Rig Count is unchanged at 13, up 2 year-over-year. The Canada Rig Count is up 24 from last week to 117, with oil rigs up 15 to 74, gas rigs up 9 to 43. The Canada Rig Count is up 100 rigs from last year's count of 17, with oil rigs up 69, gas rigs up 31.
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BKR | Hot Stocks13:00 EDT Baker Hughes reports U.S. rig count up 9 to 470 rigs
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EBAY | Hot Stocks12:41 EDT Austria's FCA approves Adevinta-eBay classifieds deal - Following an announcement by the Austrian Federal Competition Authorities, Adevinta ASA confirmed that the FCA has approved the remedies proposed by Adevinta and eBay to resolve the competition concerns raised by the FCA in relation to Adevinta's acquisition of eBay Classifieds Group, the global classifieds arm of eBay. The remedies proposed by Adevinta and eBay address the FCA's concern that the transaction could potentially lessen competition in the Austrian market between eBay.at and Willhaben, Adevinta's joint venture business in Austria. The commitments include a reduction by eBay of its financial interest in Adevinta to at least 33% within 18 months following closing of the transaction, so as to reduce its indirect economic interest in Willhaben. Additionally, Adevinta has agreed to prevent the flow of information about Willhaben to eBay, as well as to restrict eBay's potential influence over the strategic operations of Willhaben. Approval of the remedies from the FCA marks a significant milestone, as all regulatory approvals required for closing of the transaction have now been received. Consequently, Adevinta is pleased to announce that closing of the transaction will be initiated shortly and is expected to complete on or about 25 June 2021. Adevinta will make a further announcement once the transaction has been completed.
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PYPL | Hot Stocks12:35 EDT PayPal up 1% to $281.60 after announcing changes to U.S. rates
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NVS | Hot Stocks12:34 EDT Novartis reports data from completed two-copy cohort of Phase 3 SPR1NT trial - Novartis announced data it said reinforces the "transformational benefit of Zolgensma" gene therapy for spinal muscular atrophy, or SMA. New late-breaker data from the completed two-copy cohort of the Phase 3 SPR1NT clinical trial demonstrate age-appropriate milestone development in presymptomatic children with SMA without respiratory or nutritional support of any kind, and with no serious, treatment-related adverse events, the company said. The completed Phase 3 STR1VE-EU trial demonstrated rapid improvements in motor function following treatment with Zolgensma, and the majority of patients achieved motor milestones not observed in the natural history of SMA Type 1. Safety remained consistent with previously reported data. All children treated presymptomatically in the SPR1NT two-copy cohort achieved event-free survival, were independent of respiratory and nutritional support and met the primary endpoint of sitting independently for greater than or equal to30 seconds, including 11/14 who achieved this milestone within the World Health Organization window of normal development. A majority of patients went on to stand independently, 11/14, and walk independently, 9/14, most within the typical range of normal development. Among symptomatic children with SMA Type 1 treated in the STR1VE-EU trial, including patients with more severe disease at baseline, the majority of children, 82%, achieved developmental motor milestones not observed in the natural history of SMA Type 1, including 16 children, or 49%, who sat without support for greater than or equal to30 seconds. The data will be presented at the European Academy for Neurology Virtual Congress 2021.
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PYPL | Hot Stocks12:33 EDT PayPal making changes to published rates in the U.S. - PayPal announced on its website that it is making changes to its published rates in the United States "to better align our pricing with the value that our products and services provide. Our goal is to be transparent and upfront with our customers about the changes. These rates will apply to a portion of our merchant customers in the U.S. beginning August 2, 2021. For PayPal digital payment products (such as PayPal Checkout, Pay with Venmo, PayPal Credit, Pay in 4, PayPal Pay with Rewards, Checkout with crypto), which include Seller Protection on eligible transactions, the rate for online transactions will be 3.49% + $0.491 per transaction. For PayPal and Venmo QR code transactions in person over $10, the rate will be 1.90% + $0.10, and for such transactions $10 and under, the rate will be 2.40% + $0.05. For certain in-person debit and credit transactions the rate will be 2.29% + $0.09. Online credit and debit card transactions will be 2.59% + $0.491 per transaction without Chargeback Protection, or 2.99% + $0.49 with Chargeback Protection. Fees for charity transactions will be 1.99% + $0.49 for confirmed charities. For U.S. merchants who have custom, non-standard pricing, rates will remain unchanged for those services as agreed. Reference Link
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NC | Hot Stocks12:25 EDT NACCO Industries trading resumes
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NC | Hot Stocks12:13 EDT Nacco Industries reports notice of NTEC contract mining agreement termination - Nacco Industries announced that it received notification on June 17 that the contract mining agreement between Bisti Fuels Company, a wholly owned subsidiary of NACCO, and the Navajo Transitional Energy Company, or "NTEC," will be terminated effective September 30, 2021. Bisti Fuels currently supplies coal from the Navajo Mine to the Four Corners Power Plant through the agreement with NTEC. NTEC will assume control and responsibility for operation of the Navajo Mine upon termination of the contract mining agreement. All liabilities, including mine reclamation, are the responsibility of NTEC. As required under the agreement, it is anticipated NTEC will pay NACCO a termination fee of approximately $10M. Bisti assumed operation of the Navajo Mine on January 1, 2017, and between 2017 and 2020, Bisti contributed pre-tax earnings between $4.5M and $5.8M annually. "Excluding the termination fee, the termination of the contract mining agreement does not materially impact NACCO's outlook for 2021, but it will have a material unfavorable effect on NACCO's long-term earnings. The contract was scheduled to expire in 2031, with seasonal operations, and reduced coal production levels, beginning in the third quarter of 2023," the company stated. "While this is a disappointing outcome, we recognize that our customer, NTEC, has the capabilities to manage this operation, and has made a business decision to do so. We are proud of our employees, and the work they have accomplished during our oversight of the Navajo Mine. We empowered employees to greatly improve the safety culture, and act as strong stewards for environmental excellence," said J.C. Butler, President and CEO of NACCO and The North American Coal Corporation.
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NC | Hot Stocks12:01 EDT NACCO Industries trading halted, news pending
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NTP | Hot Stocks12:00 EDT Nam Tai Property falls -9.9% - Nam Tai Property is down -9.9%, or -$3.06 to $27.86.
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NMG | Hot Stocks12:00 EDT Nouveau Monde falls -17.3% - Nouveau Monde is down -17.3%, or -$1.57 to $7.48.
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SJT | Hot Stocks12:00 EDT San Juan Basin Royalty Trust falls -18.3% - San Juan Basin Royalty Trust is down -18.3%, or -$1.02 to $4.57.
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GEO | Hot Stocks12:00 EDT Geo Group rises 8.5% - Geo Group is up 8.5%, or 61c to $7.81.
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TGH | Hot Stocks12:00 EDT Textainer rises 9.4% - Textainer is up 9.4%, or $2.82 to $32.71.
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CAI | Hot Stocks12:00 EDT CAI International rises 46.5% - CAI International is up 46.5%, or $17.74 to $55.90.
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RHHBY | Hot Stocks11:33 EDT Roche reports EUA for SARS-CoV-2 test for symptomatic and asymptomatic patients - Roche announced that the U.S. Food and Drug Administration has granted Emergency Use Authorization, or EUA, for the cobas SARS-CoV-2 Nucleic acid test for use on the cobas Liat System. "This singleplex test is the first real-time reverse transcriptase polymerase chain reaction - RT-PCR - test that can identify SARS-CoV-2 infection within 20 minutes. The cobas SARS-CoV-2 test is the first RT-PCR test that screens within 20 minutes both asymptomatic and symptomatic persons, enabling quick, informed decisions at the point of care. The test is for use at a wide range of point-of-care settings, including but not limited to emergency and primary care, physician offices and screening locations, enabling greater access for patients. At launch, the test will also be available in markets accepting the CE mark," the company said.
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HCM | Hot Stocks11:27 EDT Hutchmed announces NMPA approval of surufatinib for pNETs - Hutchmed, formerly Hutchison China MediTech, announces that surufatinib has been granted approval for drug registration by the National Medical Products Administration of China, or "NMPA," for the treatment of advanced pancreatic neuroendocrine tumors, or "pNETs." This follows the approval of surufatinib in China in December 2020 for the treatment of advanced extra-pancreatic neuroendocrine tumors, or "epNETs." The company said it was "made aware through the website of the NMPA that surufatinib's approval for drug registration by the NMPA for the treatment of pNETs was completed and is now pending certification."
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CODX | Hot Stocks10:36 EDT Co-Diagnostics receives CE Marking for direct saliva SARS-CoV-2 test - Co-Diagnostics announced that its Logix Smart SARS-CoV-2 direct saliva has obtained regulatory authorization to be sold as an in vitro diagnostic for the diagnosis of Covid-19 in markets that accept CE markings, and is now available for purchase from the company's Utah-based ISO-13485:2016 certified facility. The Logix Smart DS test kit is designed to detect the presence of the RdRp and E genes of SARS-CoV-2 directly from minimally processed human saliva samples while eliminating RNA extraction of the samples, the company said in a statement. Co-Diagnostics "believes that eliminating the extraction process has the potential to increase throughput and lower costs of not only COVID-19 testing, but also any other pathogen for which the Company develops a direct saliva test."
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BPTS | Hot Stocks10:04 EDT Biophytis SA (ADS) trading resumes
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IACA | Hot Stocks10:03 EDT ION Acquisition Corp 1 announces transfer to Nasdaq - Ion Acquisition Corp 1 announced that upon the closing of the previously announced proposed business combination with Taboola.com, it intends to voluntarily delist its issued and outstanding units entitling the holder thereof to purchase one Class A ordinary Shares per warrant at a price of $11.50 per share from the New York Stock Exchange. The company's decision to voluntarily delist its ION Units and transfer to the Nadaq is due to the fact that upon the consummation of the business combination, the company will become a wholly-owned subsidiary of Taboola, and Taboola's securities will be traded on the Nasdaq.
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ACN | Hot Stocks10:01 EDT Accenture Federal Services wins $112M prime task order - Accenture Federal Services, a subsidiary of Accenture, has been awarded a $112M prime task order by the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency to protect Federal Civilian Executive Branch systems against cyberattacks. AFS will provide advanced cyber services for CISA to help FCEB agencies mitigate the effects of cyberattacks including ransomware, botnets, and malware campaigns, while enhancing real-time visibility into cyber threats.
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BHVN | Hot Stocks10:00 EDT Biohaven Pharmaceutical announces appointment of Kishen Mehta to board - Biohaven Pharmaceutical announced the appointment of Kishen Mehta, Portfolio Manager at Suvretta Capital Management, to its board of directors. Mehta previously served as a strategic advisor to Biohaven. Declan Doogan, M.D., Chairman of Biohaven's board of directors, commented, "We are excited to welcome Kishen to Biohaven's Board of Directors and have access to his impressive business and financial acumen to help us continue to excel in achieving our goal of becoming a leading, modern day biopharmaceutical company."
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ACRE | Hot Stocks10:00 EDT Ares Commercial falls -8.5% - Ares Commercial is down -8.5%, or -$1.39 to $14.92.
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SJT | Hot Stocks10:00 EDT San Juan Basin Royalty Trust falls -9.9% - San Juan Basin Royalty Trust is down -9.9%, or -56c to $5.04.
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NMG | Hot Stocks10:00 EDT Nouveau Monde falls -17.6% - Nouveau Monde is down -17.6%, or -$1.59 to $7.46.
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GEO | Hot Stocks10:00 EDT Geo Group rises 10.0% - Geo Group is up 10.0%, or 72c to $7.92.
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EBR | Hot Stocks10:00 EDT Centrais Electricas rises 10.0% - Centrais Electricas is up 10.0%, or 86c to $9.50.
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CAI | Hot Stocks10:00 EDT CAI International rises 46.0% - CAI International is up 46.0%, or $17.57 to $55.73.
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BPTS | Hot Stocks09:54 EDT Biophytis SA (ADS) trading halted, volatility trading pause
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SNY | Hot Stocks09:50 EDT Sanofi says European Commission approves Aubagio for children and adolescents - The European Commission has approved Aubagio for the treatment of pediatric patients 10 to 17 years of age with relapsing-remitting multiple sclerosis, or RRMS, Sanofi announced. "The approval confirms Aubagio as the first oral multiple sclerosis therapy for first-line treatment of children and adolescents with MS in the European Union," the company said.
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ACRE | Hot Stocks09:47 EDT Ares Commercial falls -6.7% - Ares Commercial is down -6.7%, or -$1.10 to $15.21.
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MGY | Hot Stocks09:47 EDT Magnolia Oil & Gas falls -6.8% - Magnolia Oil & Gas is down -6.8%, or -$1.01 to $13.90.
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NMG | Hot Stocks09:47 EDT Nouveau Monde falls -17.1% - Nouveau Monde is down -17.1%, or -$1.55 to $7.50.
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GEO | Hot Stocks09:47 EDT Geo Group rises 9.2% - Geo Group is up 9.2%, or 66c to $7.86.
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EBR | Hot Stocks09:47 EDT Centrais Electricas rises 9.8% - Centrais Electricas is up 9.8%, or 84c to $9.48.
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CAI | Hot Stocks09:47 EDT CAI International rises 46.1% - CAI International is up 46.1%, or $17.60 to $55.76.
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BMY | Hot Stocks09:37 EDT Bristol-Myers receives European Commission approval for Onureg - Bristol Myers announced that the European Commission has granted full Marketing Authorization for Onureg as a maintenance therapy in adult patients with acute myeloid leukemia who achieved complete remission or complete remission with incomplete blood count recovery following induction therapy with or without consolidation treatment and who are not candidates for, including those who choose not to proceed to, hematopoietic stem cell transplantation. Onureg is the first and only once-daily, frontline oral maintenance therapy to demonstrate significant overall survival and show a relapse-free survival benefit in patients with a broad range of AML subtypes. The centralized Marketing Authorization approves use of Onureg in all EU member states, as well as Norway, Iceland and Liechtenstein. Onureg is approved in the United States for the continued treatment of adult patients with AML who achieved first CR or CRi following intensive induction chemotherapy and who are not able to complete intensive curative therapy. In Canada, Onureg is approved as a maintenance therapy for adult patients with AML who achieved CR or CRi following induction therapy with or without consolidation treatment, and who are not eligible for HSCT. The EC approval of Onureg was based on results from the QUAZAR AML-001 study, a Phase 3, international, randomized, double-blind trial. Eligible patients were ages 55 years or older, had newly diagnosed AML, intermediate or poor cytogenetics, had achieved first CR or CRi following intensive induction chemotherapy with or without consolidation treatment, and were not candidates for HSCT at the time of screening.
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HSBC | Hot Stocks09:35 EDT HSBC reports MOU on potential sale of HBCE retail banking business in France - HSBC Continental Europe, or "HBCE," announces that it has signed a Memorandum of Understanding, or MOU, regarding the potential sale of HBCE's retail banking business in France. The potential sale includes: HBCE's French retail banking business; the Credit Commercial de France brand; and, subject to the satisfaction of relevant conditions, HBCE's 100% ownership interest in HSBC SFH and its 3% ownership interest in Credit Logement. The potential sale is structured such that it may proceed even if the relevant conditions to transfer HSBC SFH and/or the 3% ownership interest in Credit Logement are not satisfied. The potential sale would not include HBCE's life insurance or asset management manufacturing businesses. HBCE, through its subsidiaries, would enter into distribution agreements with the Purchaser for insurance and asset management products. The Business consists of a network of 244 retail branches, serving 800,000 customers at 31 December 2020. At 31 December 2020, the Business had customer loans balance of $26.2B, customer deposits balance of $23.1B and credit risk-weighted assets of $7.1B. It is anticipated that approximately 3,900 HBCE employees would transfer with the Business in accordance with relevant legislation. The potential sale would be expected to complete in the first half of 2023. Financial impacts of the potential sale on the HSBC Group are currently expected to be: An estimated pre-tax loss on sale of c.$2.3B, together with an additional $0.7B impairment of goodwill. There would be no immediate tax benefit recognised in respect of the sale loss nor impairment. The vast majority of the estimated sales loss and impairment is expected to be recognised upon the classification of the Business as held for sale for accounting purposes, currently anticipated to be in 2022, with any remaining elements recognised by completion; A reduction in the consolidated common equity tier 1 ratio of approximately 15bps, based on HSBC's Group RWAs at 31 December 2020, driven by the estimated loss on sale partially offset by the reduction in RWAs upon completion; and a reduction in HSBC's Group tangible net asset value, consisting of the estimated loss excluding intangibles impairments, of an estimated $2.2B upon completion based on the current estimate of the financial impact. Noel Quinn, Group Chief Executive, said: "The signing of an MOU for the potential sale of our French retail banking business represents a significant step in progressing the actions we announced during our strategic update earlier this year. It will enable us to dramatically simplify our business in Continental Europe and allow us to accelerate the transformation of our European wholesale banking franchise. We are committed to remaining as a leading international wholesale bank in Continental Europe, capitalising on our global network and serving our multinational customers both inbound and outbound."
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AMPE | Hot Stocks09:19 EDT Ampio to join Russell 2000, Russell 3000 indexes - Ampio Pharmaceuticals announced that the company is expected to join the small cap Russell 2000 Index and the broad-market Russell 3000 Index at the conclusion of this year's reconstitution of the Russell stock indexes, effective after the U.S. stock market opens on Monday, June 28, accordingly to a preliminary list of additions posted on June 4.
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NVCN | Hot Stocks09:19 EDT Neovasc announces publication of article on Neovasc Reducer system - Neovasc announced the publication of an article entitled, "Safety and Efficacy of Coronary Sinus Narrowing in Chronic Refractory Angina: Insights from the RESOURCE Study" in the International Journal of Cardiology. The article describes long-term outcomes of patients suffering from refractory angina treated with the Neovasc Reducer system. The RESOURCE study is an observational, retrospective registry that includes 658 patients with refractory angina from 20 centers in Europe, the United Kingdom and Israel. The prespecified endpoints of the trial were the amelioration of anginal symptoms evaluated with the Canadian Cardiovascular Society score and the rates of procedural success and complications. At a median follow-up of 502 days after Reducer implantation, 39.7% of patients improved by greater than or equal to 2 CCS classes, and 76% by greater than or equal to 1 class. The procedure was safe and procedural success was achieved in 96.7% of attempts. No cases of intra- or periprocedural-death, myocardial infarction or cardiac tamponade were observed in the study population. No patient required bailout conversion to open surgery. The authors described the study as the largest international real-world registry of patients with refractory angina who were treated with the coronary sinus Reducer.
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HOME | Hot Stocks09:18 EDT CAS Investment sends letter to At Home Group stockholders regarding sale - CAS Investment Partners, which beneficially owns approximately 17% of the outstanding common stock of At Home Group, sent the below letter to the company's stockholders. "... We are writing to you today regarding the proposed sale of At Home to funds advised by Hellman & Friedman LLC (collectively, "H&F"). Based on our thorough analysis of At Home's business and the transaction terms, we have concluded that H&F's original offer of $36 per share and its recently revised offer of $37 per share grossly undervalue the Company and deprive stockholders of meaningful value. We urge you to reject H&F's insufficient tender offer. Although we expect At Home's Board of Directors (the "Board") and H&F to dispute our analysis and tout the purported comprehensiveness of their transaction process, we urge you to see through this smokescreen. We believe you should instead focus on one question when considering whether or not to participate in the tender: Is $37 per share fair consideration for a business with clear momentum, a considerable growth runway and significant margin expansion opportunities?... If H&F wants to acquire At Home, we believe it should pay a reasonable premium that appropriately reflects the Company's path to enhanced value and the present consumer environment. It is disturbing that the Board's Special Committee is trying to usher through a fire sale just as At Home is gaining considerable momentum and the pandemic's economic overhang is subsiding. At Home, which can become the next great American retailer, has the ability to grow rapidly and produce tremendous value for stockholders in the public market... Given the substantial compensation and benefits Mr. Bird is set to receive under the proposed sale and his continuous dealings with H&F, we believe the sales process was flawed and riddled with conflict. We anticipate that At Home will try to deflect attention away from our concerns by highlighting its 40-day "go-shop" process, but the reality is that these processes have become an increasingly ineffective check on a bad deal. A 2020 analysis in the Harvard Law Review notes that "go-shops, in general, are no longer an effective tool for post-signing price discovery."4 The authors of the analysis "document several reasons for this change: the proliferation of first-bidder match rights, the shortening of go-shop windows, CEO conflicts of interest, investment banker effects, and collateral terms that have the effect of tightening the go-shop window."5 An after the fact "go shop" does not change the fact that this transaction was not the result of a full and fair sale process to maximize value for all At Home stockholders... We know we are not alone in opposing this insufficient, conflict-ridden deal. It has been encouraging to receive unsolicited feedback from many other stockholders who share our view about At Home's long-term prospects. As noted, we truly believe the Company can become the next great American retailer as the pandemic fades and the housing economy thrives. In the coming days and weeks, CAS will continue to share our analysis and views regarding this flawed sale. We are committed to continuing to demonstrate that it is in stockholders' best interest to reject the H&F tender. At Home's decision to pivot to a tender offer seems like recognition that the deal would have likely been voted down. We believe this only further proves how imperative it is that stockholders do not tender into this grossly undervalued price. We will not sit by as At Home gets taken private on terms that would benefit H&F and the Company's insiders far more than stockholders."
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MBCN | Hot Stocks09:17 EDT Middlefield Banc announces CEO retirement, succession plan - Middlefield Banc announced that President and Chief Executive Officer Thomas Caldwell plans to retire from Middlefield Banc Corp. and The Middlefield Banking Company as of March 31, 2022. Caldwell intends to complete his term as a director of Middlefield Banc Corp. that will end at the company's 2022 annual meeting of shareholders. As part of the company's existing succession plan, an internal and external search is currently underway and a successor is expected to be appointed in the coming months.
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HOTH | Hot Stocks09:07 EDT Hoth Therapeutics extends license deal with U.S. Army Medical Research Command - In a regulatory 8-K filing filing, the company states: "On June 17, 2021, Hoth Therapeutics, Inc. entered into an amendment to the Non-Exclusive Commercial Evaluation License Agreement with the U.S. Army Medical Research and Development Command originally executed on December 22, 2020 pursuant to which the term of the License Agreement was extended such that it will terminate 12 months from the Effective Date."
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JAKK | Hot Stocks09:05 EDT JAKKS Pacific, Black+Decker extend contract in North America - JAKKS Pacific announced a multi-year, North America contract extension with Black+Decker commencing in 2021. Under this agreement, JAKKS will continue to design, manufacture, market, and sell Black+Decker toy work benches, tool sets, tools, housewares, and kitchen products in the U.S., Canada and Mexico. JAKKS has been a toy partner for Black+Decker for more than 16 years.
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NTRA | Hot Stocks09:04 EDT Natera says CMS grants ADLT status for Signatera MRD test - Natera announced that the Centers for Medicare & Medicaid Services has granted ADLT status for the Signatera molecular residual disease test. Obtaining ADLT status confirms that Signatera meets the highly selective criteria established under the Protecting Access to Medicare Act of 2014. The initial ADLT rate established by CMS is $3,500 for each Signatera assay used in the recurrence monitoring setting. Signatera received Medicare coverage for use in stage II-III colorectal cancer in late 2020, while finalization of a draft local coverage determination for use in immunotherapy response monitoring is anticipated for release in late 2021.
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ROKU | Hot Stocks09:03 EDT Roku provides update on Roku Originals launch - Roku provided an update on the recent launch of Roku Originals. In late May, Roku added 30 original series to The Roku Channel. The debut of Roku Originals builds on the growth of The Roku Channel, which reached households with an estimated 70M people in the U.S. as of Q1. In the two weeks following the launch of Roku Originals, May 20 to June 3, a record number of unique accounts streamed The Roku Channel. Furthermore, the top ten most watched programs on The Roku Channel were all Roku Originals in this two-week period. In addition to driving broader discovery of The Roku Channel, Roku Originals saw deep engagement. In the first two weeks, more than one in three users of The Roku Channel streamed a Roku Originals series with users streaming over nine episodes on average. Roku expects to release an additional 45 Roku Originals this year to complement The Roku Channel's expansive library of 40,000+ free movies and television programs and 190+ live linear channels already offered to viewers.
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BDRBF | Hot Stocks08:45 EDT Bombardier delivers first Global 7500 aircraft in Indonesia - Bombardier announces the arrival of the first Global 7500 business jet in Indonesia. This aircraft was recently delivered to an undisclosed customer based in Jakarta. "Global aircraft are designed to deliver the ultimate in luxury, performance and smooth ride over long-distance flights, making them ideally suited to customers in the Asia-Pacific region who are looking to connect far-flung city pairs," said Nilesh Pattanayak, Regional Vice President, Sales, Asia Pacific, Bombardier. "The ultra-long-range Global 7500 aircraft opens up a world of possibilities for convenient and productive travel." Bombardier is significantly expanding its customer service footprint in the Asia-Pacific region with the creation of a state-of-the-art customer service centre at Essendon Fields Airport in Melbourne, Australia. The facility is targeted to be operational in 2022. Meanwhile, the ambitious expansion of Bombardier's Singapore Service Centre is ongoing. This site at the Seletar Aerospace Park will quadruple the operation's footprint, making it the largest OEM-owned business aviation maintenance facility in the region.
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VRSK | Hot Stocks08:43 EDT Verisk Analytics' Wood Mackenzie announces acquisition of Roskill - Wood Mackenzie, a Verisk business, announces its acquisition of Roskill, a privately-owned company involved in metals and materials supply chain intelligence. Neal Anderson, President of Wood Mackenzie, commented: "Combining Roskill's capabilities with Wood Mackenzie reinforces our ability to provide comprehensive, integrated analysis across the energy, and metals and mining value chain. In particular, Roskill adds market-leading analysis, data, and insight on battery raw materials metals, which are an integral component of the energy transition."
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METX | Hot Stocks08:36 EDT Meten Edtechx: 247.8% increase in gross billings for junior ELT unit in May - Meten EdtechX announced that the gross billing and student enrollment of its junior ELT business in May 2021 increased by 247.8% and 163.9% respectively compared to the same period of last year and increased by 92.4% and 65.2% respectively compared to May 2019. In the first five months of 2021, the gross billing of the company's junior ELT business increased by 408.4% year over year and increased by 120.4% compared with the same period in 2019. These figures confirm that the company has returned to its pre-pandemic growth trajectory. The company is actively expanding its junior ELT business within its current network of 22 cities and has received positive market feedback. The gross billing from student renewals and referrals accounted for 57.7% of the total gross billing of the company's junior ELT business in May 2021, demonstrating that the company's services have been widely appreciated and recognized by students and their parents. Due to recent policy changes, the company will continue to develop the business of junior quality-oriented education
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GROM | Hot Stocks08:36 EDT Grom Social's Top Draw Animation increases production at animation studio - Grom Social Enterprises announced that its wholly-owned subsidiary, Top Draw Animation, is increasing production at its animation studio in the Philippines to address the growing demand for the animated content it produces on behalf of several leading global entertainment companies. Additionally, as the entertainment industry reopens and the global pandemic slows, Top Draw has reinstated its animators training program - suspended during the crisis - to cultivate the next generation of animation pros and meet the increase in animation production. Darren Marks, CEO of Grom, adds, "The combination of new Grom executives, re-energized animation production, growing demand for safe social media for kids, requisite educational web-filtering and the influx of original IP from Curiosity Ink Media, make Grom Social Enterprises perfectly poised to be an important pipeline for escapist, brand-safe entertainment for the whole family. Collectively and individually, these assets serve as a gateway to meaningful revenue opportunities and attractive gross margins to deliver long-term, sustainable value for our shareholders."
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GE | Hot Stocks08:35 EDT GE to proceed with 1-for-8 reverse stock split on July 30 close - General Electric announced that it will proceed with the 1-for-8 reverse stock split previously approved by shareholders at the annual meeting of shareholders on May 4. GE plans to file an amendment to its certificate of incorporation to effectuate the reverse stock split after the close of trading on July 30, and GE common stock will begin trading on a split-adjusted basis on August 2. The move will reduce the number of outstanding shares of GE common stock from approximately 8.8B to approximately 1.1B.
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AUVI | Hot Stocks08:35 EDT Applied UV receives over $850,000 in Airocide orders from 3Sixty - Applied UV announced that it has received orders in excess of $850,000 for its Airocide consumer and commercial air purification systems from 3Sixty Biopharmaceuticals, the company's exclusive distributor within the continent of Africa. Under the terms of the agreement, 3Sixty agreed to an upfront binding purchase commitment of a minimum of $3.5M of Airocide systems over the initial one-year term of the agreement. After the initial term, both parties agreed to assess opportunities to expand the product line to include the SteriLumen platform of connected UVC devices for infection control in and around high-traffic areas.
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LKCO | Hot Stocks08:34 EDT Luokung Technology unit wins contract for new traffic control network in China - Luokung Technology announced that its wholly owned subsidiary eMapgo Technologies, has entered into a contract to deliver a new generation traffic control network and smart highway demonstration project for the Changjiu Expressway in the Jiangxi Province of China. According to the terms of the contract, EMG will be responsible for the development and implementation of a 3D real-life highway digital management system for the new generation smart highway demonstration project for the Changjiu Expressway. A digital management system will provide real-time road information and intelligent operation management to support the latest smart transportation, such as lane navigation, autonomous driving, road coordination and vehicle-road collaboration, while increasing safety and decreasing congestion for improved road maintenance and management.
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SGBX | Hot Stocks08:33 EDT SG Blocks breaks ground on Monticello Mews construction project in New York - SG Blocks announced that the company has broken ground on its Monticello Mews construction project, located in the Catskills region of New York. Monticello Mews is a multi-family development project with 180 townhomes; the first phase will consist of 110 one- and two-bedroom units, with amenities including a clubhouse, gym, and outdoor green spaces.
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TGB | Hot Stocks08:31 EDT Taseko Mines announces retirement of CEO, COO - Taseko Mines announced the voting results from its 2021 Annual General Meeting held yesterday. Additionally, the company announces the retirement of Russell Hallbauer, CEO, and John McManus, COO, effective June 30. Russ will remain a Director of the company, and Stuart McDonald, currently President, will also assume the role of CEO. Richard Tremblay will be promoted to Senior Vice President, Operations and Richard Weymark has been appointed Vice President, Engineering.
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AZN | Hot Stocks08:11 EDT AstraZeneca 'welcomes' Court ruling on supply of COVID-19 vaccine to Europe - AstraZeneca announced that it "welcomed" the ruling by the Court of First Instance in Brussels on supply of its COVID-19 vaccine to Europe. "The European Commission had requested 120 million vaccine doses cumulatively by the end of June 2021, and a total of 300 million doses by the end of September 2021. The judge ordered delivery of 80.2 million doses by 27 September 2021. To date, the Company has supplied more than 70 million doses to the European Union and will substantially exceed 80.2 million doses by the end of June 2021. All other measures sought by the European Commission have been dismissed, and in particular the Court found that the European Commission has no exclusivity or right of priority over all other contracting parties. The judgement also acknowledged that the difficulties experienced by AstraZeneca in this unprecedented situation had a substantial impact on the delay. AstraZeneca now looks forward to renewed collaboration with the European Commission to help combat the pandemic in Europe. The Company remains committed to broad and equitable distribution of the vaccine as laid out in the Advanced Purchase Agreement of August 2020. In fewer than twelve months, AstraZeneca has worked extremely hard to develop an effective vaccine at no profit and is the second-largest supplier to the EU's 27 member states," the company stated.
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JENGQ | Hot Stocks08:10 EDT Just Energy announces Texas legislation may help the company recover $100M - Just Energy Group announced that on June 16, Texas Governor Greg Abbott signed House Bill 4492, which provides a mechanism for recovery of certain costs incurred by various parties, including the Company, during the extreme weather event in Texas in February 2021 through certain securitization structures. HB 4492 addresses securitization of ancillary service charges above US $9,000/MWh during the Weather Event; reliability deployment price adders charged by the Electric Reliability Council of Texas during the Weather Event; and amounts owed to ERCOT due to defaults of competitive market participants, which were subsequently "short-paid" to market participants, including Just Energy. HB 4492 provides that ERCOT request that the Public Utility Commission of Texas establish financing mechanisms for the payment of the Costs incurred by load-serving entities, including Just Energy. Based on current information, if the Commission approves the financing provided for in HB 4492, Just Energy anticipates that it will apply to the Commission to recover approximately $100M of Costs. There is no assurance that the Company will be able to recover all of the Costs that it applies for under the Commissions order or orders.
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ETTX | Hot Stocks08:07 EDT Entasis Therapeutics introduces ETX0462, to present at World Microbe Forum - Entasis Therapeutics announced multiple presentations at the World Microbe Forum 2021, taking place virtually June 20-24. Entasis will present 11 posters with one oral presentation highlighting ETX0462, a novel, first-in-class, diazabicyclooctane with antimicrobial activity against Pseudomonas aeruginosa. Presentations will also include updates on SUL-DUR, a beta-lactam/beta-lactamase inhibitor currently in a Phase 3 registrational clinical trial to treat infections caused by carbapenem-resistant Acinetobacter baumannii, and ETX0282CPDP, an oral beta-lactam/beta-lactamase inhibitor being developed to treat multidrug-resistant Gram-negative pathogens, including those caused by extended-spectrum beta-lactamases and carbapenem-resistant Enterobacteriaceae.
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CBLI | Hot Stocks08:05 EDT Cleveland BioLabs, Cytocom merger proxy statement declared effective by SEC - Cleveland BioLabs announced that its registration statement on SEC Form S-4 filed with U.S. Securities and Exchange Commission in connection with its previously announced merger with Cytocom was declared effective by the SEC.
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IIIV | Hot Stocks08:04 EDT i3 Verticals announces growth in India, share AGM update - i3 Interactive shares several updates with respect to the company and its subsidiaries. The Company announces that all matters put forth to shareholders for approval at the Company's Annual General and Special Meeting held on Tuesday, June 1, 2021, have been approved with a significant majority of the votes cast in favor. Following the Meeting, Troy Grant, Binyomin Posen and Brendan Purdy all agreed to serve on the board of directors of the Company. Additionally, the company announces that further to the press release dated May 21, 2021, it remains on track to complete its intended transaction, with a target of Summer 2021. The product, marketing and business-level synergies resulting from the transaction will be a powerful growth factor for the company, its subsidiaries, and all global partners for 2022 and beyond. It is anticipated that trading in the company's common shares will remain halted until the transaction is complete. i3 Interactive also announces the successful completion of several fundamental growth milestones in its subsidiary businesses. BLITZPOOLS: Despite the Covid-based postponement of the IPL, BLITZPOOLS' growth in the fantasy sports ecosystem continues unabated. The site has added over one million new players since its launch. BLITZPOKER continues to find strong growth across demographics. "During May 2021, BLITZPOKER recorded the highest revenue month in the site's history, continuing the upward trajectory the site has enjoyed since it launched. As BLITZPOKER approaches one year in operation, it has seen 105% net revenue growth and 57% growth in active players," the company said. North America Business: The company continues to expand on its North American strategy.
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EXEL | Hot Stocks08:02 EDT Exelixis CMO Gisela Schwab begins medical leave of absence - Exelixis announced that, effective immediately, Gisela Schwab, the company's president, product development and medical affairs and CMO, has begun a medical leave of absence. Schwab will remain available to advise Exelixis as needed during her leave.
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CLWT | Hot Stocks08:01 EDT Euro Tech Holdings declares special dividend of 20c per ordinary share - Euro Tech Holdings announced that its Board of Directors has authorized a special dividend of approximately 20c per ordinary share, in cash, payable on July 6 to shareholders of record as of June 28.
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ORPH | Hot Stocks07:58 EDT Orphazyme receives CRL from FDA following arimoclomol review - Orphazyme announced it has received a complete response letter, or CRL, from the FDA following its review of the new drug application for arimoclomol, a heat shock protein amplifier intended for the treatment of Niemann-Pick disease type C, or NPC. The FDA issued the CRL based on needing additional qualitative and quantitative evidence to further substantiate the validity and interpretation of the 5-domain NPC Clinical Severity Scale, or NPCCSS, and, in particular, the swallow domain. Further, the FDA noted in the CRL that additional data are needed to bolster confirmatory evidence beyond the single phase 2/3 clinical trial to support the benefit-risk assessment of the NDA. A primary endpoint of the phase 2/3 clinical trial was progression in disease severity as measured by the 5-domain NPCCSS. This is a disease-specific measure of disease progression consisting of the five clinically most relevant domains to patients with NPC, caregivers and physicians.
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EDSA | Hot Stocks07:50 EDT Edesa Biotech receives DSMB recommendation to continue COVID-19 study - Edesa Biotech reported that an independent Data and Safety Monitoring Board, or DSMB, has completed an interim review of the company's COVID-19 drug candidate, and based on blinded comparative data, has recommended that the company's international study continue as planned. The safety monitoring board, composed of independent subject matter experts, conducted a pre-planned interim review of the first patient cohort participating in Edesa's Phase 2/3 clinical study evaluating the company's EB05 drug candidate as a single-dose treatment for hospitalized COVID-19 patients. The DSMB assessed treatment data for safety and futility. After completing their analysis, the DSMB recommended that enrollment in the trial continue. CEO Par Nijhawan said that Edesa is evaluating opportunities to expedite the timeline for completing the remaining part of the study and building a single robust dataset. As of June 16, more than 370 subjects in the U.S., Canada and Colombia have been enrolled in the Phase 2/3 study. The company plans to perform the next interim analysis on 316 evaluable subjects once treatment is completed and subject data is validated and aggregated. The company recently filed a trial amendment with the FDA to streamline the U.S. protocol and align it with other jurisdictions. Following the exploratory analysis, the company also plans to adjust its current patient segmentation and associated endpoints, and maintain blinded data through the end of Phase 3.
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TGTX | Hot Stocks07:40 EDT TG Therapeutics announces preclinical, clinical data evaluating TG-1701 - TG Therapeutics announced data from two presentations evaluating TG-1701, the company's investigational once-daily, oral BTK inhibitor, presented today during the 16th International Congress on Malignant Lymphoma. One presentation evaluated TG-1701 preclinically and the other included Phase 1 data evaluating TG-1701 as a monotherapy and as a triple therapy in combination with ublituximab, the company's novel glycoengineered anti-CD20 monoclonal antibody, and UKONIQ, the company's once-daily, inhibitor of PI3K-delta and CK1-epsilon in patients with front line or relapsed/refractory non-Hodgkin's lymphoma and chronic lymphocytic leukemia. Poster Presentation Title: Antitumoral activity of the novel BTK inhibitor TG-1701 is associated with disruption of Ikaros signaling and improvement of anti-CD20 therapy in B-cell non-Hodgkin lymphoma. In patient samples from a Phase 1 clinical trial of TG-1701, phosphoproteomic analysis differentiated early and late CLL responders to TG-1701 therapy. TG-1701 did not impair FcgammaR-driven ADCC and ADCP and cooperated with U2 in in vitro and in vivo models of BTKi-sensitive and BTKi-resistant B-NHL. Poster Presentation Title: TG-1701, A Selective Bruton Tyrosine Kinase Inhibitor, as Monotherapy and in Combination with Ublituximab and Umbralisib in Patients with B-cell Malignancies. A total of 125 patients with R/R CLL or B-cell lymphoma have been treated with TG-1701, with patients receiving monotherapy in the dose-escalation cohort, 200 mg in a dose-expansion cohort, 300 mg in a CLL dose-expansion cohort, or TG-1701 in combination with U2 in the dose escalation cohort. TG-1701 monotherapy was well tolerated and the maximum tolerated dose was not reached up to 400 mg QD. Adverse Events of special interest in patients treated with 200 mg and 300 mg QD of TG-1701, included Grade 3 hypertension, atrial fibrillation, and no instances of major bleeding observed. At a median follow up of 12.2 months in the 200 mg QD monotherapy expansion cohorts, overall response rates were: 95% in CLL, 65% in mantle cell lymphoma and 95% in Waldenstrom macroglobulinemia. 100% ORR observed at a median follow up of 8.6 months in the 300 mg CLL monotherapy cohort. At a median follow up of 15.6 months, the 1701+U2 dose escalation (using doses of 100mg to 300 mg QD of resulted in 79% ORR, with 21% CR rate across patients with WM, CLL, marginal zone lymphoma, diffuse large B-cell lymphoma and follicular lymphoma.
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SYKE | Hot Stocks07:33 EDT Sitel Group to acquire Sykes Enterprises for $2.2B in cash - Sitel Group announced it has entered into a definitive agreement to acquire Sykes Enterprises. Under the terms of the agreement, a subsidiary of Sitel Group will acquire all outstanding shares of Sykes common stock in an all-cash transaction valued at approximately $2.2B. The transaction is not subject to a financing condition and is expected to be completed in the second half of 2021, subject to the approval of SYKES' shareholders and customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other regulatory clearances. Upon the closing of the transaction, SYKES will become a privately-held company and its shares will cease trading on Nasdaq.
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TLLTF | Hot Stocks07:32 EDT Tilt Holdings reaches agreement with Massachusetts CCC - TILT Holdings announced it has reached an agreement with the Massachusetts Cannabis Control Commission, or CCC, resolving concerns of the CCC and clearing the path for provisional licensure for the retail sale of adult-use and medical cannabis in Massachusetts. With today's decision, TILT has fully resolved the dispute regarding certain agreements entered into by the original management team of TILT with other license applicants. In February, TILT terminated all remaining contractual relationships between the Company and prospective applicants. At yesterday's meeting of the CCC, the commissioners ratified a stipulated agreement resolving the related investigation pursuant to which TILT has agreed to make a $275,000 payment to the CCC Marijuana Regulation Fund. In light of the CCC's decisions, TILT is now positioned to complete the licensing process and increase its retail footprint in Massachusetts with the opening of two additional dispensaries in Cambridge and Brockton following final inspection and approval by the Commission. Both facilities are fully built out.
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SYKE | Hot Stocks07:30 EDT Sykes Enterprises trading resumes
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ADCT | Hot Stocks07:23 EDT ADC Therapeutics presents data on four Zynlonta clinical trials - ADC Therapeutics announced that posters on four Zynlonta clinical trials were presented at the 16th Annual International Conference on Malignant Lymphoma, or ICML. In LOTIS-2, a single-arm, open-label, 145-patient Phase 2 clinical trial in patients with relapsed or refractory DLBCL who had failed two established therapies, Zynlonta demonstrated continued substantial antitumor activity and an acceptable safety profile. Updated results were presented in a poster. As of the data cut-off date of March 1, all patients had completed treatment. Overall response rate, or ORR, was 48.3% and complete response rate, or CRR, was 24.8%. Median duration of response, or mDoR, of 13.4 months for the 70 responders. Median duration of response not reached for patients with a complete response. Median overall survival was 9.5 months. No new safety concerns were identified during the study and no increase in toxicity was observed in patients aged 65 years compared with patients less than 65 years. The most common grade 3 treatment-emergent adverse events. or TEAEs, were neutropenia, thrombocytopenia, increased gamma-glutamyltransferase and anemia. LOTIS-3, a Phase 1/2, two-part, open-label, single-arm clinical trial, is evaluating Zynlonta in combination with ibrutinib in patients with relapsed or refractory diffuse large B-cell lymphoma, or DLBCL, or mantle cell lymphoma, or MCL. Updated Phase 1 results were presented in a poster. As of the data cut-off date of March 1, 30 patients with DLBCL and seven patients with MCL were included in the study. ORR in all patients was 62.2% and CRR was 35.1%. In non-GCB DLBCL patients, ORR was 66.7%. In GCB DLBCL patients, ORR was 16.7%. In MCL patients, ORR was 85.7%. Zynlonta in combination with ibrutinib had manageable toxicity, with the most common grade 3 TEAEs in 5% of patients being anemia, neutropenia, thrombocytopenia and fatigue. Pharmacokinetic profiles demonstrated sustained exposure and modest accumulation by Cycle 2
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BIP IPPLF | Hot Stocks07:13 EDT Brookfield Infrastructure revises Inter Pipeline purchase offer - Brookfield Infrastructure Partners (BIP) announces its intention to file a second notice of variation to its offer to acquire all of the outstanding common shares of Inter Pipeline (IPPLF) commenced February 22, 2021, as varied on June 4, 2021 to include an option for IPL shareholders to elect to receive 100% cash consideration at C$19.50 per IPL Share without proration, and to extend the expiry time of the Offer until July 13, 2021. The company said, "Under the terms and subject to the conditions of our intended Offer, each IPL shareholder can elect to receive, per IPL share, either C$19.50 in cash or 0.225 of a Brookfield Infrastructure class A exchangeable share. 0.225 of a BIPC Share has a market value of C$19.99 per IPL share, based upon the TSX closing price of a BIPC Share on June 17, 2021. As described herein, we intend to amend the Offer to remove the limit on cash consideration. As revised, our Offer will provide an enhanced and attractive value proposition for IPL shareholders who may elect up to 100% cash consideration, not subject to proration. For IPL shareholders seeking to participate in the upside from the integration of IPL into a globally diversified infrastructure company, the Offer will continue to include an option to elect to receive BIPC Shares as consideration and an option for eligible shareholders to access a tax deferred rollover in respect of any BIPC Shares received pursuant to the Offer... We believe this amendment will provide investors with ultimate- flexibility, allowing investors to participate in IPL through shares of BIPC and providing additional value certainty and liquidity to those investors who value a clean exit from the company."
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ISEE | Hot Stocks07:07 EDT Iveric bio to present GATHER2 enrollment data, GATHER1 analyses - Iveric bio announced that at the company's virtual symposium for investors and analysts, Arshad Khanani of Sierra Eye Associates and chairman of the GATHER2 Steering Committee, will discuss an accelerated enrollment timeline and patient retention, including injection fidelity, for GATHER2, the company's pivotal clinical trial of Zimura in development for the treatment of geographic atrophy, or GA, secondary to age-related macular degeneration (AMD). The Company expects to complete enrollment in GATHER2 in late July of this year. Based on this timeline, the company expects topline GATHER2 data to be available in the second half of 2022, approximately one year after the enrollment of the last patient plus the time needed for database lock and analysis. The company also announced that GATHER2 is exceeding patient retention expectations. The company is targeting patient retention for the trial, as measured by injection fidelity rate through month 12, of greater than 90%. Injection fidelity is calculated by dividing the total number of actual injections by the total number of expected injections based on the number of enrolled patients. The company also announced that Vas Sadda, of Doheny Eye Institute at UCLA, will present new post-hoc analyses from the GATHER1 clinical trial on progression of drusen and nascent GA, which are earlier forms of dry AMD, in patients treated with Zimura 2 mg as compared to patients in the sham group. The accompanying graphs illustrate the data that Sadda will discuss.
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VIEW | Hot Stocks07:04 EDT View Inc. smart windows selected for renovation of 111 Wall Street - View announced its smart windows will be installed at 111 Wall Street, a 25-story, 1.2 million-square-foot waterfront office tower in Manhattan's Financial District, currently undergoing an extensive transformation by Nightingale Properties and Wafra Capital Partners. "The future of buildings is experiential, sustainable, healthy, and smart," said Dr. Rao Mulpuri, Chairman and CEO of View. "For every new building built, there are over 100 existing buildings and there is a tremendous opportunity to upgrade and reposition these buildings for the 21st century. View is excited to help Nightingale Properties and Wafra Capital Partners reposition 111 Wall Street."
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MRNA | Hot Stocks07:03 EDT Moderna reaffirms commitment to create jobs in Massachusetts - Moderna reaffirmed its commitment to job creation in Massachusetts. Over the last year, Moderna nearly doubled the size of its workforce, from approximately 830 employees as of March 31, 2020 to approximately 1,500 employees as of March 31. In the last year, Moderna created more than 650 new jobs at its manufacturing facility in Norwood, Massachusetts. The company continues to expand in Norwood and Cambridge. On June 15, Moderna was awarded a tax incentive from the Massachusetts Life Sciences Center, or MLSC, based on its commitment to hire 155 new full-time equivalent employees in 2021 and retaining that headcount through 2025. The MLSC Tax Incentive Program awards companies engaged in life science research and development, commercialization and manufacturing with the goal of creating new, long-term jobs in the state of Massachusetts.
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SYKE | Hot Stocks07:02 EDT Sykes Enterprises to be acquired by Sitel group for $54 per share - Sykes Enterprises and Sitel Group announced they have entered into a definitive merger agreement in which Sitel Group, through a wholly owned subsidiary, will acquire all of SYKES' outstanding shares of common stock at a purchase price of $54 per share in a transaction valued at approximately $2.2B on a fully diluted basis. The purchase price represents a premium of 31.2% over SYKES' closing price on June 17, 2021, and a premium of 29.1% over the 30-day volume-weighted average price of SYKES' common stock. President and CEO of the Company Chuck Sykes stated, "This combination marks a major milestone in our 40-plus year operating history. Thanks to the hard work of our team members, this transaction validates the execution of our vision, strategy, our differentiated full lifecycle business model and promises immediate and certain value for our stockholders at an attractive premium. As we embark on the next phase of our journey, there is an opportunity to take the business to historic heights with a proven partner with similar culture and values. In Sitel Group, I am confident that we have a valuable partner with a solid heritage of deep industry knowledge and experience, solid industry reputation, a shared vision and a people-first culture to better serve customers." The proposed transaction is not subject to a financing condition, is expected to be completed in the second half of 2021 and is subject to the approval of SYKES' shareholders and customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other regulatory clearances. Upon the closing of the transaction, which was approved unanimously by the Company's Board of Directors, SYKES will become a privately-held company and its shares will cease trading on Nasdaq.
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PLTR | Hot Stocks07:00 EDT Palantir receives contract from FAA valued at up to $18.4M - Palantir Technologies announced it has been contracted by the Federal Aviation Administration to provide a data analytics tool that will help advance the agency's modernization objectives for aviation safety. Palantir Foundry will support the FAA's aircraft certification and continued operational safety activities, including the ongoing monitoring of the 737 MAX fleet's return to service. The one-year contract with two additional option years is valued at a maximum of $18.4M.
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GTN | Hot Stocks06:56 EDT Gray Television forms new Sports and Entertainment revenue group - Gray Television has formed a new sales and sponsorship entity called Gray Sports + Entertainment Sales to represent the company's internal content production portfolio to brands and advertising agencies. The new group is responsible for revenue generation of Gray-owned media and sponsorship assets. Gray Sports + Entertainment Sales is led by Bill Lancaster, currently Vice President of Sales for both Raycom Sports and RTM Studios. Lancaster will be responsible for the group's strategy and execution. Before joining Gray in 2016, Lancaster spent 20 years with Gannett/TEGNA in a variety of leadership roles.
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SYKE | Hot Stocks06:55 EDT Sykes Enterprises trading halted, news pending
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CAI | Hot Stocks06:53 EDT CAI Intl. up 45% in pre-market at $55.60 after agreeing to be acquired by MHC - Shares of CAI International jump 45.7% in pre-market trading to $55.60. Yesterday evening, the company announced that it is agreeing to be acquired by Mitsubishi HC Capital at $56 per share in a $1.1B total equity deal.
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OCN | Hot Stocks06:48 EDT Ocwen to acquire RMS reverse mortgage servicing platform for $12.4M - Ocwen Financial announced that its wholly-owned subsidiary, PHH Mortgage Corporation, has entered into an agreement with Reverse Mortgage Solutions and its parent, Mortgage Assets Management, to acquire substantially all of the operations, assets and employees of the RMS reverse mortgage servicing platform. MAM is a subsidiary of investment funds managed by Waterfall Asset Management. The company will also acquire all of the outstanding equity interests in the RMS Real Estate Owned business, REO Management Solutions. Under the terms of the agreement, subservicing contracts for the reverse residential mortgages currently subserviced by RMS would be assigned to PHH. As of March 31, 2021, RMS serviced approximately 35,000 reverse mortgages, or approximately $7.8B in unpaid principal balance. As part of the transaction, PHH expects to assume the vast majority of the RMS reverse servicing and REO employees and PHH will become the subservicer under a five-year subservicing agreement for reverse mortgages owned by RMS and MAM. The aggregate purchase price is estimated to be approximately $12.4M and will be subject to certain post-closing adjustments. The transaction is expected to close in the third quarter, subject to appropriate regulatory approvals and other customary closing conditions.
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ANPC | Hot Stocks06:32 EDT AnPac Bio granted first disease treatment patent by USPTO - AnPac Bio announced that it has been granted its first disease treatment patent by the United States Patent and Trademark Office on June 7. The patent covers novel medical devices for both disease detection and treatment applications and has 25 claims. This patent covers novel device structures and methods to modify biological samples for treatment purposes. This latest patent is the twenty first patent granted to AnPac Bio in the United States. The company also announced that its newly launched cancer treatment joint venture has secured, via signed legal documents, over $4M of capital contributions from multiple funding sources which will fund fabrications of cancer treatment medical devices and the device's subsequent laboratory tests this year.
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GPRK | Hot Stocks06:09 EDT GeoPark co-founder O'Shaughnessy urges board to make changes - Gerald O'Shaughnessy, the co-founder, former Chairman and second largest shareholder of GeoPark, issued an open letter to the Board of Directors of GeoPark which stated in part: "Dear Members of the Board: I am writing you now because I am deeply concerned that GeoPark faces two significant barriers to enhancing shareholder value: (1) Jim Park's general resistance to full and independent evaluation of strategic alternatives and consistent lack of transparency have led to missed opportunities and call into serious question his performance as CEO and (2) the board has compounded these issues by failing to exert true independent and critical oversight of management. I believe action needs to be taken now to rectify this situation. Accordingly, I am formally requesting that you revise the slate that you are proposing for the upcoming annual meeting to re-include me as well as three additional independent candidates to bolster company oversight. I would not serve either as Chair or on any key committees where independence concerns would suggest my participation is inadvisable because of my prior role as Chair. I propose that the board should be constituted so that GeoPark keeps its status as a foreign private issuer and that a majority of its directors be considered independent under prevailing analyses. I believe that Ms. Escovar should remain Chair and that Ms. Suarez should be nominated as you have proposed. The directors who would step off would be discussed, and the number of directors could be increased, if necessary."
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LIII | Hot Stocks06:04 EDT Local Bounti to go public via merger with Leo Holdings III Corp. in $1.1B deal - U.S. indoor agriculture company Local Bounti has agreed to go public through a merger with Leo Holdings III Corp., pursuant to a definitive business combination agreement. The transaction values the combined company at an equity value of $1.1B and upon closing of the transaction, the combined company is expected to remain listed on the New York Stock Exchange under the symbol "LOCL". Strategic partners include food and agriculture industry giant Cargill and Sarath Ratanavadi, CEO of Gulf Energy Development Public Company Limited - Thailand's largest private energy and infrastructure company and one of the world's leaders in sustainable energy, which are investing in the combined company through a private investment in public equity arrangement. Cargill is also expected to provide $200M in debt financing to accelerate Local Bounti's expansion plans. Local Bounti plans to use the capital to build local strategically-located indoor farming facilities across the Western U.S. to provide fresh, superior-tasting, long-lasting and sustainably-grown produce with minimal carbon footprint. As a result of the transaction with Leo, Local Bounti will receive up to $400M in gross proceeds, including $125M from a fully committed PIPE anchored by existing investors and new investors, including Fidelity Management & Research Company LLC, BNP Paribas Asset Management Ecosystem Restoration Fund and Cargill. The Boards of Directors of Local Bounti and Leo unanimously approved the transaction, and the transaction will require the approval of the stockholders of both Local Bounti and Leo and is subject to other customary closing conditions. The transaction is expected to close in the second half of 2021.
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LIII | Hot Stocks06:01 EDT Local Bounti to go public via merger with Leo Holdings III Corp. in $1.1B deal
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NLSN | Hot Stocks05:40 EDT Nielsen introduces The Gauge, new ratings for streaming services - Nielsen said in a statement on Thursday: "The pandemic was the catalyst for streaming services, which gained traction amongst a broader range of consumers. Over the last year, several traditional media companies dove into the streaming space, taking advantage of their vast video libraries and launching just in time to provide consumers in lockdown with more binge-worthy content. The recently launched The Gauge, Nielsen's new monthly total TV and streaming snapshot, shows that streaming usage across all television homes has climbed to 26% of all time spent on TV. Streaming and broadcast now account for half of television time, with usage split evenly between the two channels." "The past year has categorically shifted the television viewing landscape. Even as people begin to dive back into their pre-pandemic activities, based on the changes many made to enable streaming coupled with the variety of newly introduced services, we expect people to keep sampling and exploring their options. Maybe just as importantly, as production ramps back up, new content will enter the space, driving additional traction," says Brian Fuhrer, SVP, Product Strategy at Nielsen. Reference Link
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MT CLF | Hot Stocks05:24 EDT ArcelorMittal sells remaining Cleveland-Cliffs shares for $750M share buyback - ArcelorMittal North America, a wholly owned subsidiary of ArcelorMittal (MT), announced the conclusion of the sale of its remaining 38.2M common shares in Cleveland-Cliffs (CLF) following receipt of the shares on June 9. The value crystalized from this sale of Cleveland-Cliffs common shares will be returned to shareholders via a new $750M share buyback program of ArcelorMittal common shares. This new share buyback program will commence immediately and follows the previous buyback program which is now complete. The disposal of the remaining common shares in Cleveland Cliffs brings the total cash proceeds from the sale of ArcelorMittal USA to $1.9B so far, all of which will have been returned to ArcelorMittal shareholders via share buybacks.
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DADA LNVGY | Hot Stocks05:20 EDT Dada Nexus, Lenovo Leco expand cooperation to create omni-channel growth model - Dada Group (DADA) and Lenovo Lecoo (LVNGY) announced that they have deepened strategic cooperation to jointly create a new omni-channel growth model for consumer electronics. Guangsen Mou, GM of consumer electronics and home appliances business department at JDDJ, and Ming Zhou, CEO of Lenovo Lecoo, signed a strategic cooperation agreement in Beijing. Lecoo is a smart retail enterprise invested by Lenovo Group, and also a representative of smart devices and smart retail solutions in Lenovo's 3S strategy. Currently, Lecoo directly operates 300 stores in China, and plans to newly set up about 600 stores in the coming year. Its products include Lenovo's Legion series, Xiaoxin series, ThinkPad series, YOGA series and Lecoo's new brand products. According to the agreement, JDDJ, Dada's on-demand retail platform, will provide omni-channel solutions based on the improvement of traffic and efficiency. Over the next two years, the platform will partner with 1,000 Lecoo's offline stores to create a new omni-channel growth engine for on-demand retail.
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AMZN RACE | Hot Stocks05:15 EDT AWS to become cloud provider for Ferrari - Amazon Web Services, or AWS, an Amazon (AMZN) company, announced that it has entered into an agreement with Ferrari (RACE) to become their official cloud, machine learning, and AI provider. Together, the companies will accelerate the pace of innovation across the entire Ferrari organization, including their road cars department, GT Competitions, the Ferrari Challenge, and the Scuderia Ferrari Formula 1 team. In addition, Scuderia Ferrari will leverage AWS to launch a digital fan engagement platform, via its mobile app, to engage hundreds of millions of fans worldwide with exclusive, personalized content.
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ACN | Hot Stocks05:09 EDT Accenture to acquire Exton Consulting, terms undisclosed - Accenture has entered into an agreement to acquire Exton Consulting, a French consulting firm providing strategy and business management support to financial services clients across Europe. Financial terms of the transaction are not being disclosed. Founded in 2006 and headquartered in Paris, France, Exton Consulting helps executive boards at banks and insurance companies manage growth and transformation projects in various markets across Europe. The team of approximately 150 professionals would join Accenture's financial services industry group. The acquisition requires prior consultation with the relevant works councils and is subject to customary closing conditions.
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HUIZ | Hot Stocks05:07 EDT Huize partners with Sunshine Insurance to launch Darwin Critical Care 2021 - Huize announced that it has partnered with Sunshine Insurance Group to launch Darwin Critical Care 2021, a critical illness insurance product designed for sub-optimal health group. Cunjun Ma, founder, chairman and CEO of Huize, commented, "This year marks the second year in a row for Huize to launch a product dedicated to customers with pre-existing medical conditions. Leveraging our years of experience in product development, advanced technology, and a massive amount of multi-dimensional user data, we are able to group sub-optimal health users at a reasonably large scale, deploy data-analytics to customize insurance underwriting requirements, and thereby empower our insurance carrier partner to implement risk-based pricing effectively."
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BNTX | Hot Stocks05:05 EDT BioNTech doses first patient in BNT111 cancer vaccine trial - BioNTech announced that the first patient has been treated in its BNT111 Phase 2 cancer vaccine trial. The study is evaluating the company's therapeutic cancer vaccine candidate BNT111 in combination with Libtayo in patients with anti-PD1-refractory/relapsed unresectable Stage III or IV melanoma. BNT111 is the lead product candidate from BioNTech's FixVac platform that targets a fixed combination of mRNA-encoded, tumor-associated antigens with the objective of triggering a strong and precise immune response against cancer and is fully owned by BioNTech.
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