Stockwinners Market Radar for April 07, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
NVTA | Hot Stocks20:05 EDT Cathie Wood's ARK Investment bought 354K shares of Invitae today
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GMAB JNJ | Hot Stocks19:49 EDT Genmab announces resolution to arbitration with Janssen on Daratumumab - Genmab A/S (GMAB) "announced an award in the binding arbitration of two matters arising under its license agreement with Johnson & Johnson-owned (JNJ) Janssen Biotech relating to daratumumab. The arbitral tribunal issued an award on April 7, 2022, deciding both issues in favor of Janssen. Genmab has the right to seek review of the award, which it must do within a limited period of time. Such review should conclude with the issuance of a final award prior to the end of 2022. Genmab is currently considering its options. The first issue concerned the question as to whether Janssen's obligation to pay royalties on sales of licensed product extends, in each applicable country, until the expiration or invalidation of the last-to-expire relevant Genmab-owned patent or the last-to-expire relevant Janssen-owned patent covering the product, as further defined and described in the license agreement. As to that issue, the tribunal determined by majority opinion that Janssen's obligation to pay royalties to Genmab on sales of licensed product, in each applicable country, extends through the expiration or invalidation of the last-to-expire relevant Genmab-owned patent covering the product or use thereof, but not the relevant Janssen-owned patent. The relevant Genmab-owned issued U.S., European and Japanese patents will expire in the late 2020s and early 2030s. The second issue concerned the question as to whether Genmab is required to share in Janssen's royalty payments to Halozyme Therapeutics, Inc. for the Halozyme enzyme technology used in the subcutaneous formulation of daratumumab, marketed as DARZALEX FASPRO in the U.S. The royalties Janssen pays to Halozyme represent a mid-single digit percentage rate of subcutaneous daratumumab sales. Janssen reduced its royalty payments to Genmab by what it claims to be Genmab's share of Janssen's royalty payments to Halozyme beginning in the second quarter of 2020 and has continued to do so through December 31, 2021. As to that issue, the tribunal ruled by majority opinion that Janssen is permitted to continue reducing its royalty payments to Genmab as an offset against a share of Janssen's royalty payments made to Halozyme Therapeutics, Inc. Genmab had already assumed that Janssen would continue to withhold what it claims to be Genmab's share of Janssen's royalty payments to Halozyme as a reduction to estimated 2022 revenue in its guidance as of February 16, 2022, and as such our 2022 financial guidance remains unchanged."
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MNOV | Hot Stocks19:15 EDT MediciNova announces publication of Ph2 data of MN-166 in alcohol use disoorder - MediciNova "announced that a secondary analysis of a Phase 2 clinical trial of MN-166, ibudilast, in alcohol use disorder was published in the journal "Alcoholism: Clinical and Experimental Research". Eligible participants were randomized to MN-166 or matched placebo and completed daily diary assessments during the two-week period. Each morning, participants retrospectively reported on their mood and craving levels both before and during the previous day's drinking episode, as well as stimulation and sedation levels during the previous day's drinking episode. Multilevel models compared the effects of MN-166 and placebo on subjective alcohol response. Exploratory analyses evaluated whether MN-166 moderated the relationship between daily stimulation / sedation and alcohol intake and whether withdrawal-related dysphoria moderated the effects of MN-166 on subjective response." Key take-aways about MN-166 in the publication include: 1) Initial findings showed that MN-166 (ibudilast), a neuroimmune modulator, reduces rates of heavy drinking and measures of alcohol craving. 2) MN-166 (ibudilast) did not significantly alter mean levels of stimulation or sedation. 3) MN-166 (ibudilast) moderated the effect of daily stimulation on same-day number of drinks consumed. 4) MN-166 (ibudilast) attenuated alcohol-induced increases in craving compared with placebo but no other subjective response measures. 5) MN-166 (ibudilast) may reduce the acute and chronic proinflammatory effects of alcohol, either indirectly through suppression of peripheral inflammation or directly by altering cAMP signaling pathways and suppressing cytokine expression and in the brain. 6) Among individuals without withdrawal-related dysphoria, MN-166 (ibudilast) significantly tempered daily alcohol-induced changes in urge to drink and positive mood."
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LIAN PFE | Hot Stocks19:10 EDT LianBio partner ReViral expected to be acquired by Pfizer - LianBio (LIAN) announced that its partner, ReViral, is expected to be acquired by Pfizer Inc. (PFE). LianBio has existing collaboration agreements with both companies, including an in-licensing agreement with ReViral for the development of sisunatovir, a small-molecule antiviral for the treatment of respiratory syncytial virus. "We are pleased that Pfizer has seen the same promise in ReViral and their RSV pipeline as we do," said Yizhe Wang, Ph.D., Chief Executive Officer of LianBio. "We are looking forward to expanding our existing relationship with Pfizer and continuing our mission to bring novel therapeutics, including sisunatovir, to greater China." LianBio and Pfizer entered into a strategic collaboration agreement in November 2020 focused on developing and commercializing transformative pharmaceutical products in greater China. In March 2021, LianBio and ReViral announced an exclusive collaboration and license agreement for the development and commercialization of sisunatovir in mainland China, Hong Kong, Macau, and Singapore.
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CNXN | Hot Stocks19:08 EDT Connection chairman sells $197.4K in common stock - In a regulatory filing, Connection disclosed that its chairman Patricia Gallup sold 3.7K shares of common stock on April 5th in a total transaction size $197.4K.
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CAG | Hot Stocks18:49 EDT Conagra Brands CEO: The fundamentals of our business are very strong - In an interview on CNBC's Mad Money, Sean Connolly said the key to navigating inflation is having strong brands and perseverance, both of which apply to Conagra. Elasticity of demand has been very benign, he noted. He is seeing some green shoots in the transportation area and expects relief at some point.
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BBY | Hot Stocks18:26 EDT Best Buy CEO: Our purpose is to enrich lives through technology - In an interview on CNBC's Mad Money, Corie Barry said, "Our employees want to help our customers accomplish something. They are not just looking for a SKU. We can help customers get more out of their technology." The consumer is uneven and unpredictable right now, she noted. Barry expects this year to be softer, especially after two years of elevated demand. She said recent supply chain issues have been mitigated due to smart investments in prior years.
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TWTR | Hot Stocks18:22 EDT Twitter experimenting with Unmentioning feature on Web - Twitter said it is experimenting with Unmentioning, way to "help you protect your peace and remove yourself from conversations," available on Web for some users now. Reference Link
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TEAM | Hot Stocks18:10 EDT Atlassian sees total annual revenue for its markets reaching $176B - The company states: "The three global markets we serve include both technical and non-technical teams. In terms of dollars, total annual revenue for our markets is expected to grow to $176 billion by 2025, increasing approximately 11% per year, according to IDC. Revenue from technical teams is projected to grow to $69 billion, and revenue from non-technical teams is projected to grow to $107 billion. We estimate our current addressable opportunity is $29 billion, growing by 14% annually, which consists of $15 billion for technical teams and $14 billion for non-technical teams. Atlassian has a strong track record of identifying trends early and understanding how our business can benefit. We capitalized on the rise of agile to become the collaboration platform of choice for developers. We evangelized DevOps back when it was considered "out there," and by the time it went mainstream, we were already seen as an authoritative source for DevOps tools and practices. More recently, two global trends are driving an even greater need for the kind of software Atlassian provides across all three markets." Comments taken from investor presentation slides. Reference Link
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WMT | Hot Stocks17:55 EDT Walmart raises pay for its roughly 12,000 U.S. truck drivers - Walmart said it is raising pay for its fleet of roughly 12,000 truck drivers. These latest investments mean Walmart drivers can now make up to $110,000 in their first year with the company. In addition, drivers who have been with Walmart longer can earn even more, based on factors like tenure and location. The company added that it has launched the first-ever Walmart Private Fleet Development Program. Over the course of a 12-week program, supply chain associates in the Dallas, Texas, and Dover, Delaware, areas earned their commercial driver's license and became full-fledged Private Fleet Walmart drivers. Reference Link
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CWT | Hot Stocks17:40 EDT California Water Service to acquire Stroh's Water Company - Washington Water Service, a subsidiary of California Water Service Group, has "entered into an agreement with Stroh's Water Company to acquire its water utility assets. Washington Water has served Stroh's Water customers since March 2021 through an operation and maintenance agreement, and supported them on an emergency basis for more than 20 years. The Stroh's Water system includes about 900 customer connections near Washington Water's existing Gig Harbor service area. Beyond operation and maintenance of the system, Washington Water also currently provides billing, customer service, and emergency response to Stroh's Water customers."
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FFIE | Hot Stocks17:38 EDT Faraday Future receives noncompliance letter from Nasdaq - Faraday Future announced that the company received a letter from Nasdaq indicating that, because the company has not yet filed its annual report on Form 10-K for the fiscal year ended December 31, 2021, the company does not comply with Nasdaq for continued listing.
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T... | Hot Stocks17:32 EDT S&P Dow Jones announces treatment of AT&T transaction with Discovery Inc. - AT&T (T) will spin off its interest in WarnerMedia, and immediately following the spin-off, WarnerMedia will merge with Discovery Inc. (DISCK, DISCA, DISCB). At the time of the transaction, all classes of shares of Discovery common stock will be converted and reclassified into a single share class line of newly named Warner Bros. Discovery Inc. (WBD), and it will remain in the S&P 500. AT&T will also remain in the S&P 500 and 100 indices after completion of the transaction.
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BIIB | Hot Stocks17:28 EDT CMS releases policy for coverage of Biogen's Aduhelm for treating Alzheimer's - The Centers for Medicare & Medicaid Services, CMS, released a national policy for coverage of aducanumab, brand name Aduhelm, and any future monoclonal antibodies directed against amyloid approved by the FDA with an indication for use in treating Alzheimer's disease. As finalized in this two-part National Coverage Determination, Medicare will cover monoclonal antibodies that target amyloid (or plaque) for the treatment of Alzheimer's disease that receive traditional approval from the FDA under coverage with evidence development. CMS, as a part of this decision, will provide enhanced access and coverage for people with Medicare participating in CMS-approved studies, such as a data collection through routine clinical practice or registries. Registry data may be used to assess whether outcomes seen in carefully controlled clinical trials are reproduced in the real-world and in a broader range of patients. Any new drugs in this class that receive FDA traditional approval may be available in additional care settings that people with Medicare can use, such as an outpatient department or an infusion center. Secondly, for drugs that FDA has not determined to have shown a clinical benefit, Medicare will cover in the case of FDA or National Institutes of Health approved trials. Under this NCD, CMS will support the FDA by covering the drug and any related services for people with Medicare who are participating in these trials. Biogen (BIIB) is trading down 0.77% following the news. Reference Link
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LMT | Hot Stocks17:16 EDT Lockheed Martin awarded $261.43M Navy contract modification - Lockheed Martin was awarded a not-to-exceed $261.43M fixed-price incentive modification to a previously awarded contract. This modification increases scope for the procurement of long lead-time materials, parts, components, and efforts for the production of nine Lot 17 F-35C aircraft for the Navy, 13 Lot 17 F-35A aircraft and two Lot 17 F-35B aircraft for non-U.S. Department of Defense, or DOD, participants. Work is expected to be completed in May 2026. FY22 aircraft procurement funds in the amount of $75.43M and non-U.S. DOD participant funds in the amount of $186M will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.
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TRQ RIO | Hot Stocks17:09 EDT Turquoise Hill forms 'special committee' to evaluate Rio Tinto proposal - Turquoise Hill Resources (TRQ) provided an update on its review of the unsolicited non-binding proposal from Rio Tinto International Holdings (RIO), the Company's majority shareholder, to acquire through a plan of arrangement the approximately 49% of the outstanding shares of Turquoise Hill held by the Company's minority shareholders for cash consideration of C$34.00 per share. In response to the Proposal, Turquoise Hill's board of directors formed a Special Committee of independent directors comprised of Maryse Saint-Laurent , George Burns, Peter Gillin and Russel Robertson, the "Special Committee". The Special Committee has retained BMO Capital Markets as its financial advisor and Blake, Cassels & Graydn as its legal counsel. Turquoise Hill does not intend to comment on or disclose further developments regarding the Special Committee's evaluation of the Proposal unless and until it deems further disclosure is appropriate or required. Turquoise Hill shareholders do not need to take any action with respect to the Proposal at this time. The Proposal is non-binding on Turquoise Hill. There can be no assurance that a transaction will be completed or on what terms.
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TRQ RIO | Hot Stocks17:02 EDT Turquoise Hill forms special committee as part of review of Rio Tinto proposal - Turquoise Hill Resources (TRQ) "provided an update on its review of the unsolicited non-binding proposal from Rio Tinto (RIO), the company's majority shareholder, to acquire through a plan of arrangement the approximately 49% of the outstanding shares of Turquoise Hill held by the Company's minority shareholders for cash consideration of C$34.00 per share. In response to the Proposal, Turquoise Hill's board of directors formed a Special Committee of independent directors comprised of Maryse Saint-Laurent, George Burns, Peter Gillin and Russel Robertson. The Special Committee has retained BMO Capital Markets as its financial advisor and Blake, Cassels & Graydon LLP as its legal counsel."
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REGN | Hot Stocks16:50 EDT Regeneron CEO sells $5.05M in common stock - In a regulatory filing, Regeneron disclosed that its CEO Leonard Schleifer sold 7.1K shares of common stock on April 5th in a total transaction size of $5.05M.
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SSTK | Hot Stocks16:48 EDT Shutterstock chairman sells $3.78M in common stock - In a regulatory filing, Shutterstock disclosed that its Executive Chairman Jonathan Oringer sold 43.3K shares of common stock on April 5th in a total transaction size of $3.78M.
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BLFS | Hot Stocks16:46 EDT BioLife Solutions announces change of auditor to Grant Thornton LLP - BioLife Solutions "announced that its Audit Committee approved the engagement of Grant Thornton LLP as the Company's new independent registered public accounting firm, effective April 6, 2022. The company dismissed its prior registered independent public accounting firm following its request for proposal process in connection with the audit for the fiscal year ending December 31, 2022."
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UNVR DOW | Hot Stocks16:45 EDT Univar, Dow expand global relationship in connection with China products - Univar Solutions China Limited, a subsidiary of Univar Solutions (UNVR) announced an extension of its relationship with Dow (DOW) in connection with UCON PAG-based synthetic products in China. Federico Montaner, global vice president, Lubricants & Metalworking Fluids for Univar Solutions, states: "Our strategic relationship with Dow allows us to provide customers with access to a robust portfolio of industrial product components. As the largest distributor of Dow's Lubricants & Metalworking Fluids ingredients, we're thrilled that our relationship has expanded into mainland China and Hong Kong, enabling us to offer these chemistries across the globe. Working side by side as valued and trusted partners, we're committed to staying ahead of market trends and regulatory shifts to support the multifaceted needs of customers in the lubricants and metalworking markets."
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WAL | Hot Stocks16:41 EDT Western Alliance extends contract of CEO through at least 2024 - Western Alliance "announced that its Board of Directors and CEO have agreed to a contract extension that will keep Kenneth A. Vecchione as CEO and President of the company through at least 2024. Western Alliance also announced that Bruce Beach will be named Chairman of the company's Board of the Directors at its June 2022 annual meeting of stockholders. Beach, an accounting industry leader and entrepreneur with nearly 50 years of business and financial management experience, has been the Board's Lead Independent Director since 2010. Patricia Arvielo has also been nominated as a new director to the Board. Arvielo is the Co-Founder and President of New American Funding, one of the nation's largest independent mortgage lenders. If elected, Arvielo is expected to serve on the Board's Risk and Finance & Investment committees."
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PZN | Hot Stocks16:37 EDT Pzena Investment reports preliminary AUM $52.8B at March 31 - Compared to $53B at February 28, and $49.2B at March 31, 2021.
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PCTI | Hot Stocks16:31 EDT PCTEL enters strategic alliance with Stargent IoT - PCTEL announced a strategic alliance with Stargent IoT, an Internet of Things, or IoT, company providing IoT solutions for an array of use cases for smart manufacturing, process automation and asset tracking. PCTEL's alliance with Stargent IoT will provide end-to-end remote monitoring solutions to monitor a variety of conditions, including, detection of air quality, temperature, relative humidity, acceleration, angular rate of change, magnetic field, range, and sound.
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WDFC | Hot Stocks16:29 EDT WD-40 jumps 11% to $194.25 after reporting Q2 results, FY22 guidance
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SMM | Hot Stocks16:21 EDT Salient Midstream reports NAV per share of $9.52 as of March 31, 2022 - Salient Midstream & MLP Fund provided a summary of unaudited statement of assets and liabilities and announced Net Asset Value as of March 31, 2022. On March 31, 2022, the Fund's total assets were $234.1 million and the NAV per share was $9.52. On March 31, 2022 the closing share price of the Fund was $8.24, which was trading at a 13.4% discount to the NAV. The Fund's NAV and market price total returns for the month of March were 10.1% and 11.9%, respectively, compared to 7.4% for the Alerian Midstream Energy Select Total Return Index. The Fund's NAV and market price total returns year-to-date were 28.8% and 23.7%, respectively, compared to 21.5% for the AMEIX.
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DOMA | Hot Stocks16:21 EDT Doma Holdings CFO Noaman Ahmad to step down - Doma Holdings "announced that its CFO, Noaman Ahmad, will be stepping down effective May 15, 2022. Noaman's decision is solely for personal reasons and will allow him to take on a new role at a private company in an unrelated industry. Effective upon Noaman's departure, Mike Smith, currently Doma's Chief Accounting Officer, will serve as the Company's Acting Chief Financial Officer and Principal Financial Officer. "
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IIPR | Hot Stocks16:20 EDT Innovative Industrial Properties announces Q1 operating activity - The company states: "As of April 7, 2022, IIP owned 107 properties located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia and Washington, representing a total of approximately 8.0 million rentable square feet (including approximately 2.4 million rentable square feet under development / redevelopment), with a weighted-average remaining lease term of approximately 16.4 years. As of April 7, 2022, IIP had invested approximately $1.9 billion across its portfolio (consisting of purchase price and construction funding and improvements reimbursed to tenants, but excluding transaction costs) and had committed an additional approximately $227.1M to reimburse certain tenants and sellers for completion of construction and improvements at IIP's properties. These statistics do not include an $18.5 million loan from IIP to a developer for construction of a regulated cannabis cultivation and processing facility in California and up to $55.0M that may be funded between June 15, 2022 and July 31, 2022 pursuant to IIP's lease with a tenant at one of IIP's Pennsylvania properties, as the tenant at that property may not elect to have IIP disburse those funds and pay IIP the corresponding base rent on those funds."
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MSBI | Hot Stocks16:19 EDT Midland States expands banking-as-a-service initiative with Synctera partnership - Midland States Bancorp announced a new partnership with Synctera, who provides consulting and a technology platform that connects banks with fintech partners. Midland expects to use its partnership with Synctera to focus primarily on developing fintech partnerships that will contribute low-cost deposits and increase the number of customers using its payment solutions. Jeffrey G. Ludwig, President and Chief Executive Officer of Midland States Bancorp, said, "Over the past decade, we have had a very successful fintech partnership with an originator of consumer loans, which has given us valuable experience that we plan to leverage through a broader Banking-as-a-Service BaaS initiative. One of the goals of our technology investment over the past few years has been to position Midland to effectively compete in the BaaS space, and we are now well prepared to begin adding new fintech relationships and expanding our BaaS capabilities. Through our partnership with Synctera, we intend to be very disciplined in adding new relationships and prudently manage our growth in this area. Over the longer-term, we expect BaaS to become another important catalyst for our earnings growth and further improvement in our financial performance."
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BXC | Hot Stocks16:18 EDT BlueLinx appoints Joshua Teteak as chief supply chain officer - BlueLinx announced the appointment of Joshua Teteak as chief supply chain officer, effective April 18 and reporting to Dwight Gibson, president and CEO. Josh has spent the past 21 years developing supply chain strategies, implementing cost reduction and strategic sourcing initiatives, and managing complex procurement, warehouse and logistics operations.
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HIG | Hot Stocks16:17 EDT Hartford Financial sets goal of net zero greenhouse gas emissions by 2050 - The Hartford announced a goal to achieve net zero Greenhouse Gas Emissions for its full range of businesses and operations by 2050, in alignment with the Paris Climate Accord. This goal is in addition to the company's existing targets to operate with 100% renewable-energy-source consumption for its facilities by 2030 and to reduce select GHGe by at least 2.1% each year starting in 2015 for a total reduction of 46.2% by 2037. "The Hartford is proud to be a leader in helping address the extensive and crucial challenge of climate change, drawing on our centuries of experience managing risk and our legacy of sustainability," said The Hartford's Chairman and CEO Christopher Swift. "We recognize some critical metrics and standards still need to be established to measure progress toward our net zero goal, but we are focused on doing the essential work and necessary due diligence over the next few years to position us to meet this societal imperative."
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ORN | Hot Stocks16:16 EDT Orion Group CEO Mark Stauffer steps down - Orion Group Holdings announced that Austin J. Shanfelter, Chairman of the Board of Directors, has been named interim Chief Executive Officer. Mark R. Stauffer has stepped down as President and CEO, and as a member of the Board, and will serve as an advisor to the company. Richard L. Daerr, Jr., a current Board member, has been appointed Lead Independent Director, and will not retire at the company's 2022 annual meeting of stockholders as previously announced. All appointments are effective immediately. The company has retained an executive search firm and will initiate a search to identify a permanent CEO.
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RKLB | Hot Stocks16:15 EDT Rocket Lab names Arjun Kampani as General Counsel - Rocket Lab "announced that Arjun Kampani will join the Company as Senior Vice President, General Counsel and Corporate Secretary, effective April 11, 2022. Kampani will lead Rocket Lab's legal and regulatory affairs, guiding the company on all legal, governance, ethics, and compliance matters."
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WRK | Hot Stocks16:15 EDT WestRock to close Panama City paper mill - WestRock Company announced it will permanently cease operations at its mill in Panama City, Florida, by June 6, 2022. The mill produces containerboard, primarily heavyweight kraft, and fluff pulp, with a combined annual capacity of 645,000 tons. Select grades of containerboard currently produced at the mill will be manufactured at other WestRock facilities. "A decision to close a facility and impact the lives of our employees is never easy to make," said David B. Sewell, chief executive officer at WestRock. "As we implement our plans to close the Panama City mill, we do so with great appreciation for the many contributions of the team there. We are committed to assisting our Panama City team with exploring roles at other WestRock locations and outplacement assistance." The Panama City mill employs approximately 450 people. Employees of the Panama City mill will receive severance and outplacement assistance in accordance with Company policy and labor union agreements.
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ACMR | Hot Stocks16:13 EDT ACM Research announces impact of Shanghai COVID-19 related restrictions - ACM Research announced that COVID-19 related restrictions in Shanghai are impacting employee access to and logistics activities of ACM's offices and production facilities in the Pudong district of Shanghai, and is therefore limiting ACM's ability to ship finished products to customers and to produce new products. Spot lockdowns in mid-March began to impact a number of ACM's employees and led to a closure of ACM's administrative and R&D offices in Zhangjiang in the Pudong district. A subsequent lockdown of the entire Pudong region of Shanghai was imposed in late March, and has impacted the operation of ACM's Chuansha production facility. ACM currently anticipates the restrictions will be lifted within a few weeks, at which point it expects to be able to resume normal operations. As a result of the operational limitations resulting from the COVID-19 lockdowns in Shanghai, ACM's revenue for the Q1 is expected to be significantly below its previous internal plan, which had not anticipated the COVID-19 restrictions. ACM believes the impact of the restrictions will be temporary, with some revenue being deferred from Q1 until later in the fiscal year.
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CRWD | Hot Stocks16:11 EDT Crowdstrike announces IL-4 authorization to protect DOD assets - CrowdStrike announced it has been granted a Provisional Authorization to Operate, or P-ATO, at Impact Level 4, or IL-4. "This important authorization will enable CrowdStrike to now deploy CrowdStrike's Falcon cybersecurity platform to a broad range of Department of Defense and Defense Industrial Base customers to protect their Controlled Unclassified Information," the company stated. Shawn Henry, CrowdStrike chief security officer and president of CrowdStrike Services, added: "This authorization will further CrowdStrike's support to federal agencies in defending against modern cyber threats, and we remain committed to bolstering our engagements with the public sector. Private-public sector collaboration is critical during these unprecedented times, and cybersecurity must remain paramount for both sectors into the future."
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WDFC | Hot Stocks16:10 EDT WD-40 CEO says 'we are in a challenging inflationary environment' - "The resilience of the WD-40 Brand has enabled us to be off to a solid start in fiscal year 2022 with maintenance product sales up 14 percent year-to-date," said Garry Ridge, WD-40 company's chairman and CEO. "I am also happy to share with you that our commitment to continuous improvement has resulted in significant improvements to our supply chain in the United States. The enhancements we have made have enabled us to increase the production capacity of our highest volume products and return to solid growth in our largest market, the United States, which experienced a 26 percent increase in maintenance product sales in the second quarter. Like other companies, we are in a challenging inflationary environment, which has continued to deteriorate our gross margin. We are focused and committed to managing our business so that we can restore gross margin to or above our target of 55 percent over the longer-term. We will restore our gross margin over the near-term by implementing price increases to offset the higher input costs we are experiencing. Over the longer-term our margin accretive Must-Win Battles will further enhance gross margin. As we look to the remainder of the fiscal year, we've reduced our net income guidance by approximately two percent for the full fiscal year due to the challenging inflationary environment we are currently operating in. However, we have been able to maintain our revenue guidance and believe we will finish fiscal year 2022 with both topline and bottom-line growth."
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HARP | Hot Stocks16:09 EDT Harpoon announces Chief Medical Officer Natalie Sacks, M.D will leave June 1 - Harpoon Therapeutics announced that Natalie Sacks, M.D., Chief Medical Officer, will be leaving the company effective June 1. Dr. Sacks will serve as a consultant to Harpoon through the end of the year. "On behalf of the management team and the board of directors, I want to extend our gratitude to Dr. Sacks for the important role she played in advancing multiple development programs using our proprietary TriTAC platform into the clinic," said Julie Eastland, President and Chief Executive Officer of Harpoon Therapeutics. "We wish Natalie the very best in her future endeavors. We have built an exceptional clinical team with deep experience in drug development. Under their leadership, we will continue to advance our promising clinical programs to meet our planned milestones. We look forward to a productive 2022." While the executive search for a new Chief Medical Officer is ongoing, Yifah Yaron, M.D., Ph.D., and Mark Sayles, M.D., Ph.D., both Medical Team Leaders, will continue to advance the Company's clinical programs, HPN328 and HPN217, and direct our clinical activities for the entire portfolio.
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GATO | Hot Stocks16:08 EDT Gatos Silver reports Q2 silver production of 2.39M oz, up 58% from Q1 - Gatos Silver "achieved record silver production in Q1 2022 at 2.39 million ounces, a 58% increase compared to the first quarter 2021 which was impacted by a temporary shutdown for two weeks due to a power outage. The increased production in the quarter was primarily due to significantly higher silver grades, in addition to higher plant throughput and improved recoveries. Lead and zinc production was 10.3 and 13.8 million pounds, representing an increase of 36% and 58%, respectively, compared to Q1 2021, primarily due to higher mined ore grades. As of March 31, 2022, the Los Gatos Joint Venture had over $40 million in cash. Given the continued strong operating performance of CLG, the Company expects the first dividend from the LGJV to occur during Q2 2022. "
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CVT WK | Hot Stocks16:08 EDT Cvent names Workiva COO Iskow to join board of directors - Cvent (CVT) announced that subject to final board approval, Workiva Inc.'s (WK) President, Chief Operating Officer, and board member Julie Iskow, will join the Cvent board of directors and serve as a member of the Audit Committee. Her term will begin on May 18, 2022. "Cvent has built an innovative technology platform enabling its customers to capitalize on the new events landscape, and is leading the digital transformation, expanding the opportunity for the Company's impact," said Iskow. "I look forward to working with the Cvent leadership team and board to accelerate the company's next phase of growth and bring increasing value to its customers and users." Iskow is expected to replace current Cvent board member Sanju Bansal, whose term will expire at Cvent's annual meeting of stockholders on May 18, 2022.
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GATO | Hot Stocks16:07 EDT Gatos Silver names Dale Andres as new CEO - Gatos Silver "announced that Dale Andres, who currently serves as President, has been named CEO and has joined the Gatos Silver Board. Mr. Andres succeeds Stephen Orr, who has retired from his roles as CEO and as a member of the Company's Board."
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PSFE | Hot Stocks16:07 EDT Paysafe names Bruce Lowthers CEO - Paysafe Limited announced that Bruce Lowthers has been appointed as Chief Executive Officer and Executive Director of Paysafe. Lowthers, who will join the company by May 1, 2022, succeeds Philip McHugh, who is stepping down as CEO and as a member of the Company's Board of Directors. The CEO transition builds on the recent appointment of Daniel Henson as Non-Executive Chairman in March, the company said. Lowthers joins Paysafe after a 15-year tenure at FIS.
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CRWD | Hot Stocks16:06 EDT Crowdstrike grated provisional authorization to protest DoD information - CrowdStrike "announced it has been granted a Provisional Authorization to Operate at Impact Level 4. This important authorization will enable CrowdStrike to now deploy CrowdStrike's Falcon cybersecurity platform to a broad range of Department of Defense and Defense Industrial Base customers to protect their Controlled Unclassified Information, or CUI".
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TRNO | Hot Stocks16:06 EDT Terreno Realty owns 256 buildings as of March 31, 2022 - Terreno Realty Corporation announced its operating, investment and capital markets activity for the first quarter of 2022. As of March 31, 2022, Terreno Realty Corporation owned 256 buildings aggregating approximately 15.1 million square feet and 37 improved land parcels consisting of approximately 128.3 acres. In addition, Terreno Realty Corporation had four properties under redevelopment that upon completion will consist of four buildings aggregating approximately 536,000 square feet and two improved land parcels of approximately 12.1 acres. During the first quarter of 2022, Terreno Realty Corporation acquired four properties consisting of four buildings containing approximately 434,000 square feet and one improved land parcel of approximately 1.2 acres for an aggregate purchase price of approximately $86.1 million.
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LAIX | Hot Stocks16:05 EDT LAIX Inc trading halted, news pending
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BSY | Hot Stocks16:02 EDT Bentley Systems acquires ADINA R&D, terms not disclosed - Bentley Systems, Incorporated announced it has acquired Watertown, Massachusetts-based ADINA R & D Inc., a developer of finite element analysis software applications used in a comprehensively diverse range of engineering fields. ADINA was founded in 1986 by Dr. Klaus-Jurgen Bathe, professor of mechanical engineering at the Massachusetts Institute of Technology and a leader in the field of finite element analysis and its applications.
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WOW | Hot Stocks15:51 EDT WideOpenWest up 7% after Bloomberg says company exploring options
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PIXY | Hot Stocks14:37 EDT ShiftPixy CEO sees 'huge need' for flexible work in post-pandemic market - ShiftPixy (PIXY) is a national staffing enterprise which designs, manages, and sells access to a platform that facilitates employment in the Gig Economy. In an exclusive interview with The Fly, ShiftPixy's CEO Scott Absher discussed COVID-related impact: "Consumer behavior has drastically shifted due to the lockdowns during the pandemic. Mobile device dependency has increased, anchoring more people in their homes than ever. Technology-enabled remote job opportunities have created significant shifts in industries across the board. Many hospitality workers have moved on to a new field due to the restaurant operation shutdown across the country. This shift has also brought to light the shift in power in the workplace; we see country-wide hourly wage increases without legislation; this will continue as the working class is being empowered by technology and new opportunities. Because we are so tied to the part-time labor markets, a lot of our clients due to COVID were separated from those employees. As a result, it created what we consider a second wave of human capital markets disruption. Even though we're post-pandemic, one of the things everybody is facing is the 'great resignation.' We had a lot of people that through the pandemic were sitting at home and being paid to sit at home, but were also contemplating what they really wanted to do. The result is that now there are hiring difficulties all over the country and we're seeing them with our clients. That's why I think it's a great time for us to be doing what we're doing with our SPAC. Now, there is a huge need for this type of flexible labor. I think people will be shocked when we start unpacking our original combination in the next few weeks to see some blue chips names in our stack. These are all post-COVID symptoms of the labor market," the executive explained. "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company.
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SWX | Hot Stocks14:35 EDT Icahn issues open letter to Southwest Gas board of directors - Carl Icahn has released an open letter to the board of directors of Southwest Gas Holdings, saying that, "We believe you have just placed $400 million of shares into friendly hands at the bargain basement price of $74 per share. We believe you think that the new ~9% of shares might well swing the election in your favor and you are probably right. This placement of shares, into friendly hands that will likely vote for the incumbent SWX board, is the main reason we think you will look to move the record date. You have said (and we agree) that these shares currently can't vote at the currently scheduled meeting because they were purchased after the March 21st record date. BUT we believe your nefarious plan is to move the record date (or move the meeting date which will necessitate moving the record date) in order to permit these newly placed shares to vote. To prove us wrong, all we ask that you do is provide a simple statement: 'We will not do anything to cause the record date to be moved from March 21st.'"Reference Link
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PIXY... | Hot Stocks14:21 EDT ShiftPixy CEO says NFTs 'a good way' to escalate consumer loyalty - ShiftPixy (PIXY) is a national staffing enterprise which designs, manages, and sells access to a platform that facilitates employment in the Gig Economy. In an exclusive interview with The Fly, ShiftPixy's CEO Scott Absher discussed restaurant operators, third-party deliveries, and NFT opportunity: "When we originally started our business, we focused on the restaurant operator community. We had a lot of clients in the early days that were multi-unit franchisees of all the major national brands. When we started this concept of employee sharing and fixing toxic levels of turnover for these operators, a new concept was also being launched and forced in the market place and that was the third-party delivery. All the brands were coming out: DoorDash [DASH], Uber Eats [UBER], GrubHub [JTKWY]. They were all dumping billions of dollars into the market place and creating a whole new customer connection and preference. What nobody was talking about at the time was the damage these brands were sustaining because they were surrendering their brand and their customer experience to a third-party. We looked at that problem and we thought we could add to our technology stack something that would help them to recover those lost commissions and also create better customer engagement. We came up with native or self-delivery. The idea was that when an online order came in, our customer could intercept that order and we could designate somebody on the premise to be the driver to take that order out. We could intercept it, turn it into a ticket, and a uniformed staff member would take that order out to the customer. The operator would also keep the commission. This created a lot of excitement until COVID. Our great idea and technology just sat there. But we also saw that there was another gap in this digital market place of food and food delivery and that was the idea of customer loyalty. We started to pursue methods by which we could entertain or engage the customer after the transaction. What started to emerge for us after we checked the data was that these people resemble the gaming community. So, we thought that our method for engagement would be augmented reality games and we went down that path. We came up with our own brands and very edgy brands and characters that allowed us to build these augmented reality games to keep customers engaged. In doing that, we saw another opportunity. The NFT conversation was heating up. We had this captive digital audience and there might be ways that we can really escalate customer loyalty. NFTs seemed like a really good way of doing that. We see NFTs as a good way to take things like frequent flyer miles or loyalty points and add an edge to it that will bring a lot of value to the individual. They are not buying these NFTs; these are part of the reward system we built for customer loyalty," the executive explained. "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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RGCO | Hot Stocks14:11 EDT RGC Resources says subsidiary recorded pre-tax impairment of $39.8M - In a regulatory filing, RGC Resources disclosed that RGC Midstream, a wholly owned subsidiary of RGC Resources, is an equity method investor in Mountain Valley Pipeline, a joint venture established for the construction and operation of the Mountain Valley Pipeline, or "MVP," and MVP Southgate. "As disclosed on the Form 8-K dated February 22, 2022 and amended March 23, 2022, due primarily to recent decisions by the U.S. Court of Appeals for the Fourth Circuit vacating and remanding certain permits necessary for the completion of MVP construction and commercial operation, and the greater uncertainty that now exists given the Court's actions, as well as the recent actions by project partners to impair their respective investments and the discontinuance of the previously-publicized summer 2022 in-service target for the MVP project, on April 7, 2022, Midstream assessed the value of its equity investment in the LLC to determine whether the fair value of its investment in the LLC had declined below its carrying value on an other-than-temporary basis as of February 22, 2022, and concluded an impairment charge is required. Midstream has recorded a pre-tax impairment loss of approximately $39.8 million, or $29.6 million, after tax, that reduced the carrying value of its investment in the LLC from $66 million to $26 million, with $10 million associated as a deferred tax asset. This impairment, based on an updated fair value analysis required for accounting purposes, will be recorded in the second quarter of 2022. Resources remains committed to completing the MVP project and is supportive of engagement with federal agencies, legal counsel and the other joint venture partners to evaluate the best path forward," the filing stated.
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PIXY AXH | Hot Stocks14:04 EDT ShiftPixy CEO says devoting resources to assisting sponsored SPAC - ShiftPixy (PIXY) is a national staffing enterprise which designs, manages, and sells access to a platform that facilitates employment in the Gig Economy. In an exclusive interview with The Fly, ShiftPixy's CEO Scott Absher discussed its sponsored special purpose acquisition company and the withdrawal of three other SPACs: "In our recent SPAC announcement, we discussed our withdrawing three of the four SPACs we had in registration. I think that people may had mistakenly read that as negative news. On the contrary, it was very good news. We have a very robust pipeline of acquisition opportunity that we have no intention of walking away from. Since we began our SPAC process, the market has changed and it is clear that we can move with less friction by leaving the SPACs as our capital markets entry point for more efficient structures. We will be saving a great deal of time and money by letting them go but more importantly have much better outcomes. When we first started the process to set up the SPAC and doing the work with the SEC, it was clear that the SEC had some discomfort around what was going on in the SPAC market. You can also see that there's been a diminution of interest in the SPAC markets that reflected in high redemption rates. I think the complexity probably scared a lot of people off. The SEC was also having some heartburn of ourselves as small publicly company being on the sponsor side because the assets you accumulate are actually quite substantial. What we decided to do was to complete Industrial Human Capital since the funding was safely put away. But we saw that we could probably accomplish everything we had set out to do with just Industrial Human Capital. One of the sectors that we were also working in is the medical staffing and we have another capital market access that will allow us to go in and do the same thing we're doing but with SPACs not being the vehicle," the executive explained. The CEO added that, in 2022 the company will be focusing on supporting its SPAC client [Industrial Human Capital]. "Right now, we're trending at $100M a year in gross billing for ShiftPixy. Just these initial platform acquisitions that we're getting ready to announce add another $400M to our top line and that will continue to grow very rapidly throughout the rest of this year. It's exponentially important for us to stay focused on this because it had an enormous impact on our revenue this year." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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PIXY AXH | Hot Stocks13:51 EDT ShiftPixy CEO sees path to 'substantial growth' - ShiftPixy (PIXY) is a national staffing enterprise which designs, manages, and sells access to a platform that facilitates employment in the Gig Economy. In an exclusive interview with The Fly, ShiftPixy's CEO Scott Absher talked about the company and its sponsored special purpose acquisition company: "ShiftPixy brings efficiency to the part-time labor markets by delivering workplace-level liberation and ease through an ecosystem that uses mobile technology to engage workers in work opportunities better. The company believes it is currently on the path to substantial growth, leveraging the use of SPAC to create 'Mega Client.' On October 20, ShiftPixy's sponsored SPAC Industrial Human Capital [AXH] began trading on the NYSE following a $115M IPO. Our company was founded to fix a problem that we discovered in the human capital markets and that was a problem of turnover, particularly in the part-time labor markets. We saw an opportunity to fix what was broken by the Gig Economy platforms. They created new preferences of how people work and connected with work. We came out of a tradition of managing employer compliance for small business owners and we saw an opportunity to take what we knew how to do and the strategy we deployed in managing human capital for small businesses, and develop a technology platform that would allow brick and mortar operators to now compete with the new gig economy platforms in this new labor market. I had a background in helping temporary staffing companies and one of the things they relied on us for was to manage their dailies, the operational side of their business. In starting ShiftPixy, we knew that when our technology was at a good state of readiness that we would have a high value in the temporary industrial staff industry. A little over a year ago, we had an opportunity to go to the capital markets and consider doing some acquisition work. What we also saw was that the SPAC market was getting very hot. We secured an investment commitment from our investment banking group. The idea was that we would take that SPAC and take the proceeds and we would go out and acquire small, regional, independent industrial staffing firms. So, that's what our SPAC - Industrial Human Capital - is set up to do. As a sponsor, we're growing or incubating a mega client for ShiftPixy. This new company - Industrial Human Capital - would be able to leverage the ShiftPixy technology without having to make a large technology investment. The synergies between the two companies will be significant," the executive explained. "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.
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HOOD... | Hot Stocks13:43 EDT Robinhood to add ability to transact on Bitcoin Lightning Network
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HOOD... | Hot Stocks13:42 EDT Robinhood has rolled out Crypto Wallets to all on WenWallets waitlist - At the Bitcoin conference in Miami, Florida, Robinhood Chief Product Officer Aparna Chennapragada shared that the company has rolled out Crypto Wallets "to every eligible person on the WenWallets waitlist of more than two million people. Now, all eligible customers who signed up for the waitlist will be able to send and receive any of the cryptocurrencies currently available on Robinhood. Due to local regulations, Crypto Wallets aren't yet available in Hawaii, Nevada or New York, and we'll inform those customers when this changes." "Our goal is to make Robinhood the most trusted and easiest to use crypto platform. We're excited to bring even lower costs to our customers by integrating with the Lightning network," said Vlad Tenev, CEO and Co-Founder of Robinhood. Robinhood also announced: "We will be adding the ability to transact on the Bitcoin Lightning Network, an open-source "layer-2" for Bitcoin transactions in the near future. Because these transactions occur "off-chain," Lightning network transactions occur in a matter of seconds vs. minutes and for pennies vs. dollars, saving customers time and money. Network fees will vary based on demand in the Bitcoin network." Reference Link
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MRVI | Hot Stocks13:35 EDT Maravai Lifesciences up 5% in afternoon trading after Betaville rumor mention - Shares of Maravai Lifesciences are up $1.65, or 5%, to $35.29 and contacts tell The Fly the strength may be attributed to an "uncooked alert" published by Ben Harrington in his Betaville M&A blog. The blog defines an "uncooked alert" as: "Market gossip as Betaville receives it. This scuttlebutt has just come in and hasn't been checked with all of Betaville's well-informed RARE sources let alone formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop, rubbish or nonsense - but then again there may be something in it, so it's worth airing on Betaville." Reference Link
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PIXY | Hot Stocks13:31 EDT Consumer behavior drastically shifted during pandemic, ShiftPixy CEO says
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PIXY | Hot Stocks13:31 EDT ShiftPixy's focus to remain on sponsored SPAC in 2022, CEO tells The Fly
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PIXY | Hot Stocks13:31 EDT ShiftPixy CEO says withdrawal of three of four SPACs 'very good news'
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PIXY | Hot Stocks13:31 EDT ShiftPixy CEO sees path to 'substantial growth,' creating 'mega client' via SPAC
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NUE | Hot Stocks13:24 EDT Nucor to build new rebar micro mill in Lexington, North Carolina - Nucor Corporation announced that it will build a new rebar micro mill in Lexington, North Carolina, which is located in Davidson County. This will be Nucor's third rebar micro mill, joining existing Nucor micro mills in Missouri and Florida. The Nucor Steel Lexington mill is expected to cost approximately $350M and have an annual capacity of 430,000 tons. The mill will employ approximately 200 full-time teammates when operational and create an additional 500 temporary jobs during construction, which is expected to take two years pending permit and regulatory approvals. "We are very excited to grow our steel business here in our home state of North Carolina. The corridor between Washington, D.C., and Atlanta is one of the fastest-growing regions in our nation, and new federal spending for infrastructure will further increase demand for rebar in the region," said Leon Topalian, President & Chief Executive Officer of Nucor. "Nucor Steel Lexington will produce steel with nearly 100% recycled content, which means our new, modern infrastructure will be made with the most sustainable steel available anywhere in the world."
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KKR TIIAY | Hot Stocks13:01 EDT TIM says 'not appropriate at this stage' to give KKR due diligence access - TIM announced earlier that its board of directors met under the chairmanship of Salvatore Rossi, following the shareholders' meeting which approved the financial statements as of 31 December 2021. The company stated: "The board confirmed unanimously the General Manager, Pietro Labriola, as Chief Executive Officer of the company, confirming all the powers that he had been previously granted. The board also reviewed the letter it received on 4 April from Kohlberg Kravis Roberts & Co. L.P. and acknowledged that KKR indicated its inability to confirm, without access to due diligence, the terms of the indicative non-binding Expression of Interest it made on November 19th, 2021, including the price of EUR 0.505 per share... Given that KKR did not confirm its Expression of Interest, including the price therein previously indicated, the Board unanimously decided that it would not be appropriate at this time to grant KKR access to due diligence. Should KKR submit a deliverable, complete and attractive offer (including, amongst other things, a price per TIM ordinary / saving share), TIM Board of Directors would be open to reconsidering its decision in the interest of all shareholders. Notwithstanding their stated inability to confirm the terms of their non-binding proposal, KKR ultimately confirmed its interest in exploring any other transactions in the interest of the company, its shareholders and Italy." Reference Link
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CMCT | Hot Stocks12:33 EDT CMCT acquires parcel for apartment development in Los Angeles for $2.3M - CMCT announced that it has acquired 3101 S. Western Ave., a 0.26-acre parcel in Los Angeles' Jefferson Park submarket, for $2.3M. CMCT intends to build a five-story apartment building with approximately 45 apartment residences offering a mix of studio, one-, and two-bedroom floor plans. The building will also provide 2,000 square feet of ground floor retail space. Construction is anticipated to begin in late 2023 or 2024.
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SHEL | Hot Stocks12:21 EDT Shell sees $4B-$5B charge in Q1 for Russia activities - Shell said earlier in an update on its Q1 outlook: "For the first quarter 2022 results, the post-tax impact from impairment of non-current assets and additional charges (e.g. write-downs of receivable, expected credit losses, and onerous contracts) relating to Russia activities are expected to be $4 to $5 billion. These charges are expected to be identified and therefore will not impact Adjusted Earnings."
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VUZI | Hot Stocks12:11 EDT Vuzix formalizes reseller agreement with VR Expert - Vuzix Corporation announced that it has formalized a reseller agreement with VR Expert. VR Expert, which has been an active reseller of Vuzix products over the past year, has recently placed follow-on orders for various sets of Vuzix smart glasses that had a multiple six-figure total dollar value.
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IRNT | Hot Stocks12:00 EDT IronNet falls -10.3% - IronNet is down -10.3%, or -37c to $3.21.
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RAD | Hot Stocks12:00 EDT Rite Aid falls -24.4% - Rite Aid is down -24.4%, or -$2.06 to $6.38.
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VAPO | Hot Stocks12:00 EDT Vapotherm falls -30.5% - Vapotherm is down -30.5%, or -$3.94 to $8.99.
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HPQ | Hot Stocks12:00 EDT HP Inc. rises 14.9% - HP Inc. is up 14.9%, or $5.19 to $40.10.
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CXM | Hot Stocks12:00 EDT Sprinklr rises 19.1% - Sprinklr is up 19.1%, or $2.17 to $13.56.
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SST | Hot Stocks12:00 EDT System1 rises 26.6% - System1 is up 26.6%, or $5.32 to $25.28.
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TOSBF TOSYY | Hot Stocks11:43 EDT Toshiba suspends spin-off related Strategic Reorganization - As a result to the establishment of the Special Committee, the Strategic Review Committee was dissolved as of today. Also, the Board of Directors decided to suspend the spin-off related Strategic Reorganization detailed in its February 7, 2022 announcements, "Notice Regarding Toshiba Group's Strategic Reorganization" and "Business Strategy of Toshiba Group." While the Special Committee will proceed quickly, the Company has temporarily suspended portfolio divestitures. The share transfer of Toshiba Carrier Corporation remains unchanged anticipating completion of transfer by September 2022.
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TOSBF TOSYY | Hot Stocks11:42 EDT Toshiba establishes Special Committee to review strategic alternatives - The Board of Directors of Toshiba Corporation resolved to establish a Special Committee, in order to engage with potential investors and sponsors and review strategic alternatives. All members of the Special Committee are composed by the independent outside directors of the Company. Members of the Special Committee are as follows. Chair: Mr. Black; Vice Chair: Mr. Brough; Mr. Hashimoto; Ms. Watahiki; Ms. Weissman; Mr. Zage. Discussions with potential investors and sponsors will be led by the management team and will commence as soon as practical. The Special Committee along with management, will engage in the negotiation process by confirming the potential structures in advance, receiving timely reports on the negotiation status, providing opinions at important junctures. The Special Committee shall also conduct an analysis on a thorough process to compare offers and structures, identify the privatization offer that is best for our diverse stakeholders including shareholders, and provide the current relevant information prior to the AGM, based upon the status at that point in time. Separately, the management team will develop the new business plan to be announced before the AGM. As a result to the establishment of the Special Committee, the Strategic Review Committee was dissolved as of today. Also, the Board of Directors decided to suspend the spin-off related Strategic Reorganization detailed in its February 7, 2022 announcements, " Notice Regarding Toshiba Group's Strategic Reorganization" and "Business Strategy of Toshiba Group." While the Special Committee will proceed quickly, the Company has temporarily suspended portfolio divestitures. The share transfer of Toshiba Carrier Corporation remains unchanged anticipating completion of transfer by September 2022. Reference Link
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TCEHY... | Hot Stocks11:38 EDT Epic Games, LEGO partner to create metaverse for children - The Lego Group and Epic Games announced they are entering a long-term partnership to shape the future of the metaverse to "make it safe and fun for children and families." The two companies will team up to build an immersive digital experience for kids of all ages to enjoy together, they said. Niels B Christiansen, CEO of The LEGO Group said: "Kids enjoy playing in digital and physical worlds and move seamlessly between the two. We believe there is huge potential for them to develop life-long skills such as creativity, collaboration and communication through digital experiences. But we have a responsibility to make them safe, inspiring and beneficial for all. Just as we've protected children's rights to safe physical play for generations, we are committed to doing the same for digital play. We look forward to working with Epic Games to shape this exciting and playful future." Tim Sweeney, CEO & Founder, Epic Games said: "The LEGO Group has captivated the imagination of children and adults through creative play for nearly a century, and we are excited to come together to build a space in the metaverse that's fun, entertaining, and made for kids and families." The LEGO Group and Epic Games said they have agreed to three principles which will ensure the digital spaces they develop deliver engaging play opportunities safely: Protect children's right to play by making safety and wellbeing a priority; Safeguard children's privacy by putting their best interests first, and; Empower children and adults with tools that give them control over their digital experience. Investors in Epic include Tencent (TCEHY), KKR (KKR), Disney (DIS), and Sony (SONY). Reference Link
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M | Hot Stocks11:11 EDT Macy's CFO believes consumers will spend, says 'demand is out there' - At JPMorgan's annual Retail Round-Up event, Macy's CFO Adrian Mitchell said he believes "the demand is out there" and that the consumer is going to be spending, but added that "Are they going to be spending on discretionary items that we sell, or are they going to be spending on an airline ticket to Florida, or travel, or going out to restaurants more?" Mitchell said that the biggest challenge the company has had in terms of thinking about managing through the beginning of this year is where the demand is going to come from, which is creating a level of unpredictability. The CFO said Macy's has seen a slowing in demand for certain home goods and casual apparel vs. the peak of the Covid-19 pandemic. "Even though the consumer is healthy, we do see that inflation is elevated more so than what we expected coming into the year," he said. "And we also recognize that the supply chain disruptions are not solved."
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NMRK | Hot Stocks11:05 EDT Newmark acquires McCall & Almy, terms not disclosed - Newmark Group announces the acquisition of McCall & Almy, Inc., a tenant representation and real estate advisory firm in Boston. McCall & Almy has built its legacy with a focused advisory approach and notable expertise in the office, medical, academic, life science, industrial and retail sectors. The organization is led by President and Founder Bill McCall, who is considered by most to be the dean of Boston's commercial real estate industry and is the namesake of the Commercial Broker Association's 'McCall Leadership Award'-the top honor for local brokers. Over the past 32 years, the firm's professionals have completed over 5,000 transactions valued in excess of $50 billion. McCall & Almy has been named one of the 'Best Places to Work' by the Business Journal for seven of the past eight years. Newmark's acquisition of McCall & Almy-whose 20 expert professionals serve a roster of many notable, long-time clients-expands the firm's tenant representation and strategic real estate consulting in the Boston area. McCall joins with partners David Richardson, Garrett Larivee, Lenny Owens and Neil Schneider, who lead the firm's Tenant Representation practice, and Jim Canfield, Julie Gray and Sandy Tierney, who lead the company's real estate advisory practice. The McCall & Almy acquisition, which closed April 1, 2022, marks the next U.S. milestone in Newmark's strategic expansion in key markets. Additionally, Newmark's recent global announcements comprise acquisitions, hires and agreements across France, Germany, Poland, Hungary, Hong Kong, Dubai and London, where Newmark just acquired BH2, a leading capital markets and leasing real estate advisory firm.
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BWV | Hot Stocks10:46 EDT Blue Water Vaccines Inc trading resumes
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EXPI | Hot Stocks10:37 EDT eXp World Holdings down 5% after being mentioned cautiously by Bear Cave - Shares of eXp World Holdings are down 92c, or 5%, to $17.67 after Edwin Dorsey published a short report on the company in his The Bear Cave blog.
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IMTE | Hot Stocks10:29 EDT Integrated Media Technology Ltd trading resumes
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HIL | Hot Stocks10:28 EDT Hill International awarded five-year contract from TxDOT - Hill International announced it was awarded a five-year contract from the Texas Department of Transportation to provide Program Management Consultant services to support TxDOT's Alternative Delivery Division with management of the Department's Alternative Delivery Program goals for design & construction and operations & maintenance. Hill's services will include scheduling, cost estimating, risk management, technical writing, project management training, design management, claims management, change management, procurement support, document management, and other project support services.
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IMTE | Hot Stocks10:24 EDT Integrated Media Technology Ltd trading halted, volatility trading pause
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BWV | Hot Stocks10:11 EDT Blue Water Vaccines Inc trading halted, volatility trading pause
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FUL | Hot Stocks10:10 EDT H.B. Fuller board authorizes $300M share repurchase plan - The Company announced that its Board of Directors authorized a share repurchase plan of up to $300 million of the Company's outstanding common shares for a period of up to five years. Under the share repurchase plan, the Company, at management's discretion, may repurchase shares for cash on the open market from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement, to buy back shares for future issuance under the Company's stock-based incentive compensation plans as well as for future issuance in connection with potential strategic opportunities. The plan does not require the Company to repurchase any specific number of shares or to complete the plan on any specific timeline. The plan may be modified, suspended or terminated at any time without prior notice. This share repurchase plan replaces the Company's previous plan that was approved in April of 2017.
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FUL | Hot Stocks10:10 EDT H.B. Fuller raises quarterly dividend 13% to 19c per share - H.B. Fuller Company announced that its Board of Directors approved an increase in the Company's regular quarterly cash dividend from 16.75c per share of common stock to 19c per share of common stock, payable on May 5, 2022 to shareholders of record at the close of business on April 21, 2022. This represents a 13% increase over the prior quarterly dividend and marks the 53rd consecutive year in which the Company has increased its dividend.
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PENN | Hot Stocks10:03 EDT Penn's theScore Bet announces 10-year partnership with Toronto Blue Jays - The Toronto Blue Jays and theScore Bet, a wholly owned subsidiary of Penn National Gaming, announce a 10-year exclusive partnership making theScore Bet the Official Gaming Partner of the Toronto Blue Jays. "This landmark deal - the first of its kind in the country - brings together two best-in-class Canadian organizations to offer fans innovative and exciting ways to experience the game, both at the ballpark and online. The historic partnership represents the Blue Jays' first gaming partner and theScore Bet's first professional team sponsorship. Teaming up is a natural collaboration for the two Toronto-based organizations with Ontario recently opening its market for sports betting and iGaming to regulated private operators on April 4," the team and company stated.
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IRNT | Hot Stocks10:00 EDT IronNet falls -12.8% - IronNet is down -12.8%, or -46c to $3.12.
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RAD | Hot Stocks10:00 EDT Rite Aid falls -21.1% - Rite Aid is down -21.1%, or -$1.79 to $6.66.
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VAPO | Hot Stocks10:00 EDT Vapotherm falls -23.4% - Vapotherm is down -23.4%, or -$3.03 to $9.90.
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CXM | Hot Stocks10:00 EDT Sprinklr rises 14.0% - Sprinklr is up 14.0%, or $1.59 to $12.98.
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HPQ | Hot Stocks10:00 EDT HP Inc. rises 15.6% - HP Inc. is up 15.6%, or $5.43 to $40.34.
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SST | Hot Stocks10:00 EDT System1 rises 18.0% - System1 is up 18.0%, or $3.59 to $23.55.
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FCUV | Hot Stocks09:57 EDT Focus Universal drops 7% to $12.39 after White Diamond puts 28c target on shares
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RYAM | Hot Stocks09:47 EDT Rayonier Advanced Materials falls -13.1% - Rayonier Advanced Materials is down -13.1%, or -77c to $5.10.
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RAD | Hot Stocks09:47 EDT Rite Aid falls -16.5% - Rite Aid is down -16.5%, or -$1.39 to $7.05.
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VAPO | Hot Stocks09:47 EDT Vapotherm falls -23.4% - Vapotherm is down -23.4%, or -$3.03 to $9.90.
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NINE | Hot Stocks09:47 EDT Nine Energy Service rises 12.1% - Nine Energy Service is up 12.1%, or 35c to $3.24.
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CXM | Hot Stocks09:47 EDT Sprinklr rises 12.2% - Sprinklr is up 12.2%, or $1.39 to $12.78.
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SST | Hot Stocks09:47 EDT System1 rises 18.6% - System1 is up 18.6%, or $3.72 to $23.68.
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ADN | Hot Stocks09:43 EDT Advent Technologies announces orders of HT-PEM MEAs by Safran Power Units - Advent Technologies is pleased to announce new orders for its proprietary Membrane Electrode Assemblies by Safran Power Units. The MEAs are based on Advent's proprietary high temperature-proton exchange membrane technology. The supply of Advent's MEAs started in the first quarter of 2022, and deliveries are expected to continue through the second quarter of 2022. The MEAs will support Safran Power Units' R&D efforts.
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WTER | Hot Stocks09:23 EDT Alkaline Water teams with logistic firm to optimize D2C fulfillment services - The Alkaline Water Company and the Clean Beverage company, announces that it has partnered with Distribution Management , a third-party logistics firm, to optimize the Company's D2C fulfillment services. "I want to thank Distribution Management and Chris Pitman, The Alkaline Water Company's Director of E-Commerce, for working diligently to get this important partnership done before the beginning of fiscal 2023," stated Ricky Wright, President and CEO of The Alkaline Water Company. "As The Alkaline Water Company continues to focus on growth in our ecommerce platforms, our new partnership with DM is a critical component. "Our partnership with Distribution Management will allow us to achieve 2-Day delivery of Alkaline88 products to 99% of U.S. households. This will significantly enhance our customer experience both from our own ecommerce website and Amazon FBM. Since COVID, ecommerce has become an increasingly important component for CPG companies. Through this partnership, we're taking steps to make sure our customers have the best ecommerce experience possible. Our research shows that Alkaline88 is one of the most loved enhanced waters in the country with tremendous customer loyalty. This partnership should further that loyalty. As we begin our fiscal 2023, our partnership with DM will have the added benefit of potentially reducing our overall freight costs of our ecommerce fulfillment. We have seen back-to-back strong months in ecommerce sales. This is a strong indication of the foundation that has now been laid and the significant upside we see for Alkaline88 in the ecommerce channel."
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DOW | Hot Stocks09:21 EDT EC selects Dow's Accutrace Plus Fuel Marker as the new Euromarker - The European Commission selected Dow's Accutrace Plus Fuel Marker as the new common fiscal marker for tax rebated fuels in the European Union. The decision to adopt a new fiscal marker, also known as Euromarker, aims to provide Member States a safer, more resilient marker to support governments' fuel fraud prevention programs. The European Commission has established a 24-month transition period where both markers, Accutrace Plus Fuel Marker and the current Euromarker, will co-exist in the market in order to allow the fuel industry to smoothly adopt the new Euromarker.
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JPM EVGO | Hot Stocks09:16 EDT Chase to pilot electric vehicle charging stations across branches with EVgo - Chase, the U.S. consumer and commercial banking business of JPMorgan (JPM), announced that it will pilot public fast electric vehicle charging stations across 50 of its U.S. branches beginning this summer. It also aims to expand on-site solar power to approximately 400 additional branches by the end of 2022. To bring the charging stations to branches, the bank partnered with EVgo (EVGO). Fast chargers will be installed at select Chase branch locations in states like California, Indiana, Illinois, New York, Oregon and Pennsylvania, offering thousands of drivers access to 100kW and 350kW chargers that can charge vehicles as much as 80% in 15-45 minutes. The bank expects to have all stations available for use by the summer of 2023.
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GAME | Hot Stocks09:12 EDT Engine Gaming completes Eden Games transaction - Engine Gaming and Media announced the completion of the sale of its Eden Games subsidiary to Animoca Brands for $16M. Engine sold its 96% interest in Eden Games for approximately $15.3M in cash consideration. Engine regularly assesses its portfolio to ensure strong alignment with stakeholder needs and priorities. Thus, beyond the sale of Eden Games, the company continues to focus on optimizing growth across its portfolio. In addition, the company has taken aggressive cost actions and is effectuating plans to reduce or eliminate substantial expenditures across the Company, and most substantially to its B2C gaming businesses, which will sharply reduce the future overall cash burn of the company.
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AVID | Hot Stocks09:11 EDT Avid announces SRF has extended its relationship with subscription software - Avid announced that Schweizer Radio und Fernsehen, SRF, the largest electronic media company in Switzerland to cover the German speaking markets, has extended its long-standing relationship with Avid to enhance its media production workflows. After more than 15 years as an Avid customer, SRF has upgraded to the latest versions of the MediaCentral production platform and Media Composer editing solution. "Like many broadcasters, SRF has recognized the need for greater flexibility, scalability and remote collaboration in its production workflows, all of which are delivered through the MediaCentral platform," said Tom Cordiner, Chief Revenue Officer, Avid. "SRF now has access to all key functionality in one unified package, with the ability to quickly allocate resources as required. We're delighted that SRF has chosen to build upon our long-standing relationship and are looking forward to seeing how it continues to evolve."
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EEFT | Hot Stocks09:09 EDT Euronet's epay announces rollout of new Alipay+ payment solution - epay, a business segment of Euronet Worldwide, has integrated Alipay+, a suite of global cross-border mobile payments and marketing solutions from Ant Group, to support in-store cross-border mobile payments via QR and bar codes at the Muller drugstore chain in Europe. With the help of Alipay+, epay's cash register integration solution includes access to a network of Asia's digital wallets through a single connection and connects the Muller drug stores with more than one billion Alipay+ users in the Asia Pacific region. Retailers who have implemented epay's cash register integration can add various payment methods at the point-of-sale from other contactless or contact-based card payments, QR and mobile payments, and value-added digital services such as gift cards and prepaid cards through the existing, dynamic connection.
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ADT | Hot Stocks09:09 EDT ADT Inc. introduces location-sharing for SoSecure by ADT app - ADT announced new location-sharing features for its SoSecure by ADT mobile safety app, keeping users in touch with loved ones from virtually anywhere. The feature-loaded personal safety app offers the most discreet ways to call for help, including an SOS slider button, SMS chat, video or hands-free with a custom secret phrase, even from a locked screen. Premium features include crash detection and roadside assistance.
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S | Hot Stocks09:08 EDT SentinelOne announces Warner as President Vats Srivatsan Joins as COO - SentinelOne announced that Chief Operating Officer Nicholas Warner has been promoted to President, Security and Vats Srivatsan has been appointed Chief Operating Officer. The new appointments reflect SentinelOne's continued growth, increasing scale, and strategic vision for long-term success. "We are at a critical and exciting point in our company's evolution with tremendous growth opportunities ahead," said Tomer Weingarten, CEO, SentinelOne. "It's incredible what Nick has accomplished since joining the team - elevating his role to President reflects my trust in his ability to lead us to new places in cybersecurity. Our momentum, our industry presence, and our differentiation have never been stronger. I'm pleased to welcome Vats Srivatsan as COO, leading our global expansion, growth, and operational alignment as we scale to the next level. I'm confident that Nick's promotion and Vats' appointment positions SentinelOne for future evolution and growth."
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WST | Hot Stocks09:06 EDT West Pharmaceutical partners with Pneuma Systems for drug delivery solutions - West Pharmaceutical has entered a multi-faceted business collaboration with Pneuma Systems with the goal of improving the patient's experience with drug therapy. Pneuma Systems has developed a family of fluid flow technologies that are aimed at scientific and medical applications. Pneuma will provide a novel closed-loop fluid flow control platform that West will use to develop drug delivery solutions for pharmaceutical companies and clinical end users. West will provide technical and financial support to Pneuma and access to the emerging West Digital Platform, designed to improve transmission of data and other information. The PneumaDrive technology can replace existing infusion pumps and automate "gravity drip" infusions, providing patients with a safer and easier experience.
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BYND RAD | Hot Stocks09:05 EDT Beyond Meat launches Beyond Burder, Beyond Meatballs at Rite Aid stores - Beyond Meat (BYND) and Rite Aid (RAD) announced the introduction of the Beyond Burger and Beyond Meatballs at approximately 2,000 stores nationwide. "Our goal is to make plant-based meat available to consumers, wherever they shop. With convenience being key for meal prep, we're making it easier than ever to incorporate Beyond Meat into your next meal by offering our products at Rite Aid locations nationwide," said Deanna Jurgens, Chief Growth Officer, Beyond Meat. "Expanding our presence across retail channels, including drugstores, is a natural next step as we aim to bring nutritious and sustainable plant-based protein to even more communities across the country."
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ADM | Hot Stocks09:05 EDT Archer Daniels appoints Vikram Luthar as CFO - ADM announced Vikram Luthar has been appointed CFO, following a thorough succession planning and candidate review process. Luthar succeeds Ray Young, who has served as CFO since 2010 and has also served as the company's vice chairman since February. Luthar joined ADM in 2004 as vice president and treasurer and has since served in a variety of senior-level positions.
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LHX | Hot Stocks09:05 EDT L3Harris Technologies selected to lead advanced international weather satellite - L3Harris Technologies has been awarded a contract by the Japan Meteorological Agency for an advanced study which will significantly improve the accuracy and timing of Japan's weather forecasting. L3Harris will lead the geostationary hyperspectral infrared sounder study for the JMA's future enterprise. The six-month design study began last month and allows L3Harris to evaluate geostationary sounder instrument concepts. Sounders are advanced spectrometers that produce high-resolution, three-dimensional temperature and moisture profiles from space. The study also will analyze performance, mature the design, and develop ground processing algorithms for prompt use of IR sounder data after launch. "The data provided by L3Harris' sounders and imagers improves both the accuracy of weather forecasting days in advance and real-time severe weather monitoring, which saves lives and property, especially for extreme weather which impacts Japan, such as typhoons, tsunamis, tornadoes, thunderstorms and micrometeorological events," said Rob Mitrevski, Vice President and General Manager, Spectral Solutions, Space and Airborne Systems, L3Harris. "Our technology continues to play a critical role in improving severe storm tracking and warnings. The more levels of data, the better the forecast and monitoring."
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GNUS | Hot Stocks09:04 EDT Genius Brands completes acquisition of WOW! Unlimited - Genius Brands International announced it has completed the acquisition of WOW! Unlimited Media. The Transaction is expected to provide immediate and continuing financial benefits, and significant contracted bookings through 2022 and into 2023. WOW! estimates 2021 revenue of approximately $64.2M, a 31% increase over the same period last year, net income of approximately $2.8M, and approximately $6.3M of EBITDA for the year ending December 31, 2021, a 279% increase over 2020. In addition, the Company announced that Michael Hirsh, CEO of WOW! will join the board of directors of Genius Brands. WOW!'s Mainframe Studios Inc. based in Vancouver and Toronto, along with its Frederator Network and Studio in New York and Los Angeles. The Transaction creates an end-to-end animation ecosystem, including Adventure Time, Castlevania, Barbie's Dreamhouse, Coco Melon, Fairly Odd Parents and Madagascar - a Little Wild. Andy Heyward, Chairman and Chief Executive Officer of Genius Brands, commented, "The acquisition of WOW! represents a transformational event for Genius Brands as we execute our strategy to establish the Company as a foremost producer, broadcaster, and licensor of high-quality children's entertainment and children's consumer products. The acquisition is expected to provide a number of immediate benefits, as it is expected to result in increased revenues and is expected to be accretive. The acquisition is also expected to provide synergies with our existing business, as well as our growing global channel system. We look forward to leveraging the production capabilities of WOW!'s Mainframe Studios Inc., as well as their Frederator Networks' established distribution platform on YouTube, as we align it with the global growth of Kartoon Channel! Worldwide. WOW!'s Canadian production facilities, Mainframe Studios, is expected to enable us to drive significant margin expansion and trim costs by transferring our current animation production from China. Our belief is that there are very few asset classes with the proven and enduring value of animated children's programs. Closing of the acquisition is a significant milestone for Genius Brands, representing the culmination of several months of tremendous effort by all those involved."
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NTAP | Hot Stocks09:04 EDT NetApp to acquire Instaclustr - NetApp announced that it has signed a definitive agreement to acquire Instaclustr, a platform provider of fully managed open-source database, pipeline and workflow applications delivered as a service. The acquisition is subject to customary closing conditions.
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DORM | Hot Stocks09:03 EDT Dorman Products issues ESG report - Dorman Products published its first Environmental, Social and Governance Report. The inaugural report outlines Dorman's approach with respect to a responsible ESG framework across four key pillars: its employees, who Dorman refers to as Contributors; its products and customers; the planet; and corporate responsibility and governance. For this report, Dorman used the results of its first ESG materiality assessment and also referenced standards from the Global Reporting Initiative and the Sustainability Accounting Standards Board as a basis for identifying topics of relevance for the company and its stakeholders.
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GT | Hot Stocks09:03 EDT Goodyear Tire to co-develop domestic source of natural rubber - Goodyear Tire announced a multi-year, multi-million-dollar program supported by the U.S. Department of Defense, the Air Force Research Lab - AFRL - and BioMADE to work with Ohio-based Farmed Materials to develop a domestic source of natural rubber from a specific species of dandelion. Today, more than 90% of the world's natural rubber is made from latex derived from rubber trees and is primarily sourced from tropical locations outside of the U.S. Taraxacum kok-saghyz, a species of dandelion known as TK, has proven to be an alternative to natural rubber trees. Farmed Materials has shown initial positive results in pilot programs for TK. Dandelions can be harvested every six months. TK dandelions are also resilient and can grow in more temperate climates, such as Ohio. Backed by the DoD, the collaboration of Goodyear, BioMADE and Farmed Materials will accelerate commercialization of TK, beginning in the spring of 2022 with the planting and harvesting of TK seeds in Ohio. The natural rubber produced will be used in the production of military aircraft tires that will be built and tested by Goodyear in cooperation with the AFRL at Wright-Patterson Air Force Base in Dayton, Ohio. If additional testing provides promising results, Goodyear sees potential for the application of TK rubber to be used in all tire applications.
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SWK | Hot Stocks09:02 EDT Stanley Black & Decker's Craftsman brand named tool sponsor of six MLB teams - Stanley Black & Decker announced that its iconic Craftsman brand will be the official tools sponsor of the Boston Red Sox, New York Mets, Miami Marlins, Cleveland Guardians, Cincinnati Reds and Oakland Athletics for the 2022 MLB season. This year's sponsorship includes being named the official tools sponsor for each team, stadium signage and assets and VIP experiences to allow the company to engage with its customers. The company will use MLB assets including tickets, hospitality, ceremonial pitches and other VIP experiences to honor tradespeople around the country including plumbers, contractors, electricians, HVAC technicians and more throughout the baseball season.
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UVSP | Hot Stocks09:01 EDT Univest Bank appoints McCormick as EVP, CCO - Univest Bank and Trust Co., subsidiary of Univest Financial Corporation, announced the appointment of Patrick McCormick as Executive Vice President, EVP, and Chief Credit Officer, CCO. He will be responsible for overseeing credit policy and managing credit risk for the bank's loan portfolio. McCormick replaces Duane Brobst who is retiring from the Chief Credit Officer role after more than 30 years with Univest.
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BBU CDK | Hot Stocks09:01 EDT Brookfield Business Partners to acquire CDK Global for $54.87 per share - Brookfield Business Partners (BBU), together with institutional partners announced an agreement to acquire CDK Global Inc. (CDK) for $54.87 per share in a transaction valued at approximately $8.3B. The company said, "With annual revenue of $1.7B, CDK Global is a leading provider of technology services and software solutions that help automotive dealers and manufacturers run their businesses more efficiently. The Company's best-in-class dealer management software plays a critical role in connecting every aspect of a dealership's operations and providing solutions to help these customers grow their businesses." Investment Highlights: Strong market leadership position. CDK Global is the North American leader in providing mission-critical enterprise resource planning solutions and software for automotive dealerships, serving over 15,000 retail locations. Durable business fundamentals. The Company's subscription-based software model, recurring contracted revenues and low ongoing capital requirements underpin its track record of high margins and strong cash flow generation. Stable industry outlook. Dealerships play a critical role as an efficient distribution and service channel across the entire automotive value chain. CDK Global has strong relationships with customers that operate multiple sites, which positions the Company well to benefit from accelerating consolidation across the dealership industry. Operational value creation potential. We have identified meaningful opportunities to enhance the Company's services and productivity as a means to improve the value proposition to CDK Global's customers and grow margins and cash flows.Funding: Brookfield's investment will be funded with $3.5B of equity, of which Brookfield Business Partners expects to invest approximately $500M. The balance is expected to be funded from institutional partners. Brookfield Business Partners intends to fund its portion of the investment with a new $500 million commitment from Brookfield Asset Management to subscribe for 6% perpetual preferred equity securities of Brookfield Business Partners. Upon issuance, these new preferred securities would be redeemable at par, at the option of Brookfield Asset Management, to the extent Brookfield Business Partners completes asset sales or equity issuances. Brookfield Asset Management has the ability to waive its redemption option. The transaction was approved by the CDK Global Board of Directors. Closing of the transaction is subject to customary closing conditions, including a majority of the stockholders of CDK Global tendering their shares into the tender offer conducted in connection with the transaction and regulatory approval. Closing is expected in the third quarter of 2022.
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BBU CDK | Hot Stocks08:58 EDT Brookfield Business Partners to acquire CDK Global for $54.87 per share
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CLCN | Hot Stocks08:57 EDT Creative Learning files with FINRA to be renamed DriveItAway Holdings - Creative Learning Corporation announced to that it has filed with FINRA for its name to be formally changed to DriveItAway Holdings, Inc., and has requested a new symbol from FINRA, both requests were done to reflect to its sole focus on the mobility business with the new management team.
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STZ... | Hot Stocks08:52 EDT Constellation Brands announces accelerated stock buyback - Constellation Brands, Inc. (STZ) announced that it has entered into an accelerated share repurchase agreement with Bank of America (BAC) to repurchase $500M of its Class A common stock. Under the ASR agreement, Constellation will receive approximately 1.7 million shares on April 8, 2022, representing approximately 80% of the expected share repurchases under the ASR agreement, based on the company's April 6, 2022 closing stock price of $231.81. The repurchased shares will become treasury shares. The specific number of shares to be repurchased in the transaction is generally based upon the volume-weighted-average price of the Common Stock during the term of the ASR agreement, less a discount and is expected to be completed no later than May 2022. The purchase price for shares repurchased in the accelerated share repurchase transaction will be paid primarily with cash on hand and will be completed under the company's current share repurchase authorization, which currently has approximately $2.6B in authorization remaining before giving effect to the ASR. This ASR agreement will not change the fiscal 2023 EPS guidance provided in the news release of earlier and constitutes the $500M share repurchase referenced in that news release.
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JUPW | Hot Stocks08:50 EDT Jupiter Wellness to luanch CaniSun for Shark Defense - Jupiter Wellness announced the upcoming launch of CaniSun for Shark Defense, the latest addition to the Company's reef-friendly sunscreen line. Through a licensing agreement with Shark Defense Technologies, Jupiter has the exclusive worldwide rights to patents, formulas, and production methods for shark repellent technologies for use in sun and skincare products.
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IMAC WMT | Hot Stocks08:49 EDT IMAC completes Walmart pilot program for The Black Space - IMAC (IMAC) announces the successful completion of its pilot program for The Back Space retail chiropractic concept located in select Walmart (WMT) stores. As a result, the Company is committed to tripling its store count with at least 20 additional locations over the next twelve months with a further goal of adding significantly more stores over the next three years. The Company expects the new stores to be a combination of corporate and The Back Company franchise locations to address market demand. "The initial interest from franchisees has been strong using only our internal marketing efforts. As such, we do not expect that it will be necessary to engage brokers to sell franchises in the foreseeable future which will allow us to retain a greater portion of the franchise fee to support our franchisee's development efforts. The feedback has consistently referenced our lower initial investment requirements compared to other chiropractic franchisors," said Jeff Ervin, Chief Executive Officer of IMAC. "We believe this helps expand our brand at an accelerated pace as compared to solely opening corporate owned storefronts."
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ERII | Hot Stocks08:48 EDT Energy Recovery awarded SWRO contracts totaling over $20M - Energy Recovery announced multiple contract awards in the Gulf region totaling over $20 million for its PX(R)Pressure Exchanger energy recovery devices. The orders are expected to be fulfilled by Q4 of 2023 and altogether, the desalination plants will be able to provide over one million cubic meters of water each day in this water-scarce region of the world.
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SEED | Hot Stocks08:48 EDT Origin Agritech receives orders for 50,000 metric tons of enhanced corn - Origin Agritech has signed purchase agreements to sell two feedstock companies a total 50,000 metric tons of its nutritionally enhanced corn. Origin Agritech's nutritionally enhanced corn aims to reduce the need for expensive additives such as soybean meal for feedstock companies, and thus double their margins. Based on current market prices for corn, the sale price could be around 3,000 RMB per metric ton or RMB150M in total. The company is currently evaluating the impact of this purchase agreement on the company's financials and may soon update its guidance to reflect this new business.
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ITGR | Hot Stocks08:48 EDT Integer acquires Aran Biomedical for EUR 120M - Integer announced the acquisition of Connemara Biomedical Holdings Teoranta, including its operating subsidiaries Aran Biomedical and Proxy Biomedical, known collectively as Aran or Aran Biomedical. Aran delivers development and manufacturing solutions for implantable medical devices. "The acquisition of Aran Biomedical is entirely aligned with our strategy to expand our presence in high growth markets," said Joe Dziedzic, Integer President and CEO. "Aran brings subject matter expertise and highly differentiated implant technology solutions to our portfolio. Coupling these technology solutions and expertise with Integer's leadership in delivery systems and manufacturing scale will bring an unparalleled ability to meet our customers' needs and be their partner of choice for developing the next generation of lifesaving and life-enhancing medical devices. Their innovation, capabilities and values are a perfect complement to Integer's, and we are thrilled to welcome Aran's 130 associates to the Integer team." Transaction Financial Highlights: Integer acquired Aran Biomedical for EUR 120M, with up to an additional EUR 10Mof contingent consideration payable based on Aran's achievement of 2022 revenue growth milestones. Aran Biomedical generated sales of $17 million in 2021, nearly doubling sales from the prior year. The transaction was financed with borrowings under Integer's existing revolving credit facility.
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CUEN | Hot Stocks08:47 EDT Cuentas to add bill payments in Mexico - US-based consumers will soon be able to use Cuentas to pay bills in Mexico. Cuentas' Mexico bill payment service will allow cardholders in the US using the Cuentas Mobile App to directly pay bills - such as wireless, cable, electricity, and gas bills - to more than 30-service providers across Mexico. Funds will be withdrawn in U.S. dollars from the Cuentas Mobil App, and payments will be applied to the account in Mexico within 48 hours, saving family or friends the extra effort of collecting cash payments at a retail location or manually depositing payments with service providers.
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ORBT | Hot Stocks08:46 EDT Orbit's Electronics Group reports March bookings in excess of $1.2M - Orbit International announced that its Electronics Group, reported bookings in excess of $1,200,000 for the month of March 2022. Deliveries for certain of these orders have already commenced and are expected to continue through the first quarter of 2023. In January 2022, Orbit announced that its newly formed subsidiary, SPS, had completed its previously announced acquisition of the assets and business of Panel Products, a Carson, CA based company founded by Nabil Radi in 1999. The transaction valued Panel at approximately $6,500,000, subject to adjustment, with $4,000,000 of the purchase price paid in cash at closing, an aggregate of up to $1,200,000 in performance related payments payable at the end of 2022 and 2023, and the issuance to Panel of a 19.9% ownership interest in SPS.
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AREC | Hot Stocks08:44 EDT American Resources signs binding LOI to acquire Energy Technologies - American Resources Corporation announced that has signed a binding letter of intent to acquire all of the outstanding stock of Energy Technologies, a rare earth element and carbon technology company with a focus on analyzing and separating materials for the recovery and concentration of high-value products. ETI was founded in 1994 in Oak Ridge, Tennessee. Formerly a division of SAIC. ETI initially focused on the coal industry, providing nuclear analysis equipment and technical support to mines, coal handling facilities, and power plants to allow these operations to selectively concentrate their feedstock. ETI is currently headquartered in Maryville, Tennessee where it has expanded into other fields, such as cement production, biomass processing, and other elemental separation and processing. ETI designs, builds, and tests all of its products in its Maryville facility, and installs and maintains this equipment worldwide. ETI analyzers are currently installed in North America, Europe, Asia, and Australia. ETI's services include custom design & applications, turn-key installation, calibration, maintenance, and radioactive material handling and training. ETI realized several years ago that its patented technologies are highly applicable in other fields of elemental analysis and separation, with proven success in the concentration of critical and rare earth element extraction. With the expected growth in electrifications and clean tech, and by partnering with American Resources Corporation and its subsidiary, American Rare Earth, ETI has the unique ability to accelerate the deployment of its technology in the critical mineral and rare earth element industries. Key highlights of ETI include: Three patented technologies in elemental selection and analysis, with additional patents in desgn and in process; Participated in Department of Energy or government sponsored projects; Consistent company profitability; Over 441 Dual-Gamma Analyzers, 79 elemental analyzers and 223 process control analyzers installed worldwide to date; and Technology focused on clean energy initiatives, infrastructure operating efficiency and rare earth and battery metals extraction efficiency. The acquisition of ETI by American Resources will be completed using a combination of cash and stock in American Resources Corporation. It is anticipated that the team at ETI will continue in their current roles to help continue to grow the business, while each ETI, American Resources, and American Rare Earth leverage the operations, assets, and talent of the other respective businesses to propel future innovation and growth.
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BCTX | Hot Stocks08:44 EDT BriaCell advances preparatory work for new Bria-OTS breast cancer trial - BriaCell Therapeutics announces that its novel off-the-shelf, OTS, personalized immunotherapy, Bria-OTS, is currently being manufactured at a cGMP facility and undergoing quality control testing for the potential upcoming clinical trial for patients with advanced breast cancer. BriaCell is currently conducting extensive testing on the immunotherapy products in compliance with the most recent guidelines of the Center for Biologics Evaluation and Research, CBER, division of the FDA- to ensure patient safety. BriaCell expects Bria-OTS to enter an open-label Phase I/IIa clinical trial designed to evaluate its safety and efficacy in patients with advanced breast cancer. The clinical trial will be managed by Cancer Insight. BriaCell is collaborating with the National Cancer Institute, part of the National Institutes of Health, under a previously-announced Cooperative Research and Development Agreement. Clinical Trials: Advanced Breast Cancer: BriaCell has two advanced breast cancer immunotherapy programs in different stages of clinical development: a) Bria-IMT: BriaCell is actively enrolling and dosing advanced breast cancer patients in the Phase I/IIa combination study. b) Bria-OTS: BriaCell anticipates treating each patient with the appropriate pre-manufactured Bria-OTS formulation based on each patient's human leukocyte antigens. American Association for Cancer Research: BriaCell will be presenting this novel off-the-shelf immunotherapy approach at the American Association for Cancer Research Annual Meeting 2022 held from April 8 - 13, 2022 at Ernest N. Morial Convention Center, New Orleans, Louisiana. Title: "Toward a personalized off-the-shelf cellular immunotherapy for cancer."
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BLIN | Hot Stocks08:41 EDT Bridgeline Digital launches E360 Dashboard - Bridgeline Digital announced that they are launching a new product, the E360 Dashboard, for eCommerce businesses. Bridgeline's prescriptive E360 Dashboard tracks everything from traffic, conversion, and average order value to give customers an at-a-glance view of their revenue strategy. The new product reinforces Bridgeline's commitment to innovating new solutions by leveraging their team's years of expertise to help their customers grow.
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STMH | Hot Stocks08:41 EDT Stem Holdings announces closing of private placement - Stem Holdings is pleased to announce that the Company has completed the private placement of a $500,000 unsecured promissory note and 500,000 common share purchase warrants to an arm's length lender. The Note becomes due and payable in three months, subject to extension by the Company for an additional three months upon payment of a $5,000 extension fee to the lender. The Note bears interest at rate of 10% per annum payable at maturity. The Company may prepay the outstanding principal amount of the Note together with all accrued and unpaid interest, without penalty, at any time prior to the maturity date of the Note. Each Warrant entitles the holder thereof to purchase one common share at a price of $0.07 for a period of thirty-six months after closing of the Offering. The net proceeds from the issuance will be used for working capital and for general corporate expenses. The Warrants and Warrant Shares are subject to a hold period of four months and one day from the date of closing of the Offering in accordance with applicable Canadian securities laws.
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RPD | Hot Stocks08:40 EDT Rapid7 announces first annual Social Good Report - Rapid7 announced its 2022 Social Good Report, the company's first comprehensive and centralized look at its social good activities, which are vital components to how the company works toward realizing its vision of a secure and prosperous digital future for all. "I am extraordinarily honored to share the first collective look at our work around social good, our values-focused mindset and investments aimed at creating a secure and resilient future where everyone is empowered to enact positive change," said Corey Thomas, chairman and chief executive officer of Rapid7. "This report is part of our effort to drive access and inclusion in cybersecurity. Through transparency and accountability, we aim to build an equitable and sustainable future and drive a dialogue about challenges and solutions for advancing cybersecurity as a whole." The Social Good Report details the company's activities in these key areas: Social good - including diversity, equity and inclusion; advancing cybersecurity, and purposeful philanthropy; and Corporate citizenship - including environmental sustainability and governance.
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CYBR | Hot Stocks08:39 EDT CyberArk achieves SOC 2 Type 2 certification - CyberArk announced it achieved SOC 2 Type 2 certification that spans the CyberArk SaaS portfolio.
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NERV | Hot Stocks08:37 EDT Minerva provides update from Type C Meeting with FDA on roluperidone - Minerva Neurosciences announced that it has received the official meeting minutes from the Type C meeting with the U.S. Food and Drug Administration held on March 2, 2022, regarding development of roluperidone for the treatment of negative symptoms in schizophrenia. The primary purpose of the meeting was for Minerva to seek the FDA's agreement on the use of roluperidone as monotherapy for the treatment of negative symptoms of schizophrenia in the subgroup of patients with moderate to severe negative symptoms and stable positive symptoms. The Division agreed that there is an unmet need for negative symptom treatments and restated its position following the November 2020 Type C meeting in which they indicated a marketing application was highly unlikely to be filed. The Division also stated at the November 2020 meeting that, at a minimum, there would be substantial review issues due to the lack of two adequate and well-controlled trials to support efficacy claims for this novel indication. The Division acknowledged at the time that the studies appear to show promising signals and encouraged Minerva to continue the drug development program for this indication. Since the Type C meeting in November 2020, Minerva has completed the Open-label extension of the Phase 3 study and has continued to develop roluperidone as a monotherapy specifically for the treatment of negative symptoms of schizophrenia in the subgroup of patients with moderate to severe negative symptoms and stable positive symptoms. At the recent meeting, Minerva and the Division discussed roluperidone's use as a monotherapy for negative symptoms and the Division advised that several important and substantial concerns remain including: the applicability of the results of the Phase 2b study to the US population. Minerva presented data in the briefing document sent to the Division in advance of the meeting showing comparable baseline data and efficacy across both US and ex-US patients in the Phase 3 study. the proposed use of post hoc analyses for the primary endpoint results of the Phase 3 study. The Division added that even with the exclusion of one trial site that Minerva believes to be subject to potential data integrity issues, the overall study remains negative. For the Phase 3 study to be positive, where the truncated Hochberg procedure was used to control the overall Type I error, both roluperidone doses must be statistically significant versus placebo, which was not the case for the 32 mg dose. Minerva confirmed in post-meeting follow-up that the exclusion of one site had been prespecified in the SAP submitted to the Division in May 2020 before the unblinding of the double-blind data. Excluding the trial site with data integrity issues resulted in a nominal p-value of 0.044 on the primary endpoint for the 64 mg dose. In the Phase 2b study the 64 mg and the 32 mg doses of roluperidone achieved statistical significance versus placebo. The Division sought reassurance that Minerva could reliably identify patients who do not need antipsychotics and how to evaluate the stability of those patients, and potential recurrence of positive symptoms of those patients, what would be considered a significant change in symptoms, how much time patients should be monitored to evaluate whether positive symptoms will recur, and what should be done if positive symptoms recur. Minerva informed the Division that it believes this patient population can be readily identified by clinicians, that this patient population presents commonly in clinical practice, that there is an unmet need for treatments for these patients and that Minerva expects that the population could be clearly characterized in product labelling. The Division pointed out that prescribers are likely to use roluperidone in a way that differs significantly from the intended monotherapy use, noting that at this time, there are no data to show that roluperidone does not interfere with the safety or efficacy of antipsychotic medications. Minerva stated that it believes that findings from the completed Phase 2b and Phase 3, demonstrate continued stability of positive symptoms in patients over time. Minerva stated that the relapse rate in these trials was less than 15% of the treated population compared to relapse rates of more than 25%1 in other trials in which patients were treated with antipsychotics. Following the meeting, Minerva submitted additional data to the Division from the Phase 2b and Phase 3 studies demonstrating that roluperidone does not interfere with the efficacy of antipsychotics in patients who suffered relapse and withdrew from the studies. The Division confirmed that results from the pivotal bridging Bioequivalence study appear to be adequate for a future acceptable NDA submission but advised that final confirmation of this would be a matter of review and also acknowledged that Minerva's initial pediatric study plan dated November 28, 2017, remains in force. Minerva continues to believe that it has conducted two adequate and well controlled studies for the intended indication, and that the data from these studies are sufficient to support a marketing application. Minerva views the concerns raised regarding the data from the Phase 2b and Phase 3 studies as those that FDA would ordinarily consider during its review of an NDA. At the end of the meeting, the Division suggested that there may be a way to address its concerns, whether the completed studies provide substantial evidence that negative symptoms are responsive to roluperidone, concurrently with the questions about positive symptoms and coadministration with antipsychotic medication through the acquisition of additional data. The Division advised that collection of additional data could begin in parallel with Minerva's preparations for a potential marketing application and need not be deferred until a determination about submission or filing of the application has been made.
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FNKO | Hot Stocks08:37 EDT Funko relocates, combines distribution centers in Washington to one in Arizona - Funko has relocated its main U.S. distribution facility from several distribution centers in Washington to one distribution center in Arizona. The company is leasing a 958,000-square-foot facility in Buckeye, Arizona, which Funko expects the facility, which will distribute the Funko portfolio of brands including Pop!, Paka Paka, GOLD, Loungefly, Funko Games and more, to be operational in April 2022. "We're excited to bring Funko to Arizona with the opening this month of our nearly one million square foot facility in Buckeye," said Andrew Perlmutter, Chief Executive Officer at Funko. "The demand for Funko products globally is as high as it's ever been and the company recently surpassed a billion dollars in revenue for 2021. The consolidation of several warehouses to one single facility will better improve our customer experience and maximize growth opportunities as our business scales."
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LW | Hot Stocks08:36 EDT Lamb Weston sees Q4 gross margin 19%-21%
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HCDI | Hot Stocks08:36 EDT Harbor Custom Development closes $4.48M land sale of Noffke Homes - Harbor Custom Development announced it has closed on the sale of a six-acre multi-family tract in its Horizon at Semiahmoo subdivision in Blaine, Washington, to Noffke Homes for $4.48M on March 31, 2022. The land parcel represents the first of eight multi-development tracts expected to be developed at Horizon and will feature a mix of two-story triplexes and fourplexes, ranging from approximately 1,600 and 1,800 square feet. With completion anticipated by 2023, the condominiums will feature views of Birch Bay and the Cascade Mountains. "We're excited to work with Noffke on this project, and it couldn't come at a better time. In-migration pressure from the Bellingham and surrounding metropolitan areas of Vancouver, Canada, and Seattle, Washington have driven Whatcom County real estate inventory to record lows," stated Sterling Griffin, Harbor Custom Development Inc's President and CEO
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CSCW | Hot Stocks08:36 EDT Color Star Technology partners to set up digital airport in metaverse - Color Star Technology subsidiary Color Sky Entertainment reached a strategic partnership with Shenzhen Qian Hai Blue Earl Business Aviation. In the near future, a virtual airport will be set up in Color Star's metaverse platform Color World, which will become a hub for digital aviation services and other related businesses. Earl Blue Aviation is a large-scale private flight service provider and flight management platform. It is an aviation company that provides cloud service and 24/7 global private jet services. Color Star hopes to set up a "Color Airport" on the metaverse platform Color World. This will allow members worldwide to make online reservations on the platform, while using artificial intelligence technology to allow users a digital flight experience.
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IDT | Hot Stocks08:35 EDT IDT's NRS partners with OnPoint to offer services to independent retailers - National Retail Solutions, NRS, a subsidiary of IDT Corporation, announced a partnership with OnPoint, a provider of scan data programs for the independent and small chain C-store market. Through the partnership, OnPoint will promote the NRS POS system and payment processing service to prospective C-store clients who require a robust POS solution to utilize OnPoint's scan data programs and full calendar of center-store promotions. "NRS and OnPoint provide complementary, synergistic offerings to help independent retailers successfully compete against larger retail chains," said Elie Y. Katz, CEO of NRS. "Our partnership positions both companies to expand our respective networks while providing independent retailers with powerful tools to enhance profitability and extend market reach."
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PRIM | Hot Stocks08:34 EDT Primoris announces two projects with combined value more than $150M - Primoris Services announced two projects with a combined value of more than $155M. The awards were secured by the Company's Energy/Renewables Segment in Texas and Florida. The Heavy Civil contract, valued at more than $48M, was awarded by the Texas Department of Transportation. The project is scheduled to commence in the second quarter of 2022 with completion expected in the fourth quarter of 2024. The Water & Mechanical project, valued over $110M, is scheduled to begin in the second quarter of 2022 with completion expected in the first quarter of 2025.
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CRMD | Hot Stocks08:33 EDT CorMedix announces SAB to support commercialization, pipeline development - CorMedix announced the formation of a new Scientific Advisory Board, SAB, comprised of esteemed experts in nephrology, infectious disease, medical nutrition, and pediatric oncology. The SAB's mission will be to provide strategic and scientific advice as CorMedix advances DefenCath toward a potential commercial launch and looks to pursue DefenCath lifecycle expansion opportunities. Scientific Advisory Board Members: Saravanan Balamuthusamy, M.D., FASN, FASDIN; Sara Bonnes, M.D., M.S., FACP.; Stanley Crittenden, M.D., FASN.; Aru Narendran, M.D., Ph.D., FAAP.; Hannah Newman, MPH, CIC; Bruce Polsky, M.D., MACP, FIDSA; Prayus Tailor, M.D., FASN; Jonathan Waitman, M.D.
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CNDT | Hot Stocks08:32 EDT Conduent to pursue separation of transportation businesses - Conduent Incorporated announced it is pursuing a separation of its Transportation business through either a sale or a spin-off. Conduent's Board of Directors and management team believe that separating the Transportation business, which serves public sector transportation agencies, will enable Conduent's Commercial, Government, and Transportation businesses to benefit from more focused operating models and capital allocation priorities aligned with industry-specific dynamics in their respective markets. Additionally, this separation is expected to unlock significant value for Conduent and its shareholders. Conduent intends to execute the separation through whichever path maximizes shareholder value. Conduent's Commercial and Government businesses will continue to deliver business services and solutions through differentiated technology platforms that enable increased efficiencies, cost savings, and value at scale for both businesses and governments. With 30 years of expertise, deep domain knowledge, and understanding of its clients' operations, Conduent has established itself as a leader in areas such as customer experience, business operations solutions, healthcare, government payments, and claims processing, and is a trusted partner to its clients. Following the separation, Conduent would still be among the top 5 largest diversified outsourcing services employers in the Fortune 1000, continuing to provide essential services and solutions to clients and end users around the globe. The Transportation business will continue to deliver solutions to a large and stable client base of global transportation agencies in more than 20 countries. Clients rely on the Transportation business as a key partner in solving the next generation of mobility challenges with innovative solutions. This business will continue to help public sector transportation agencies capture revenue while improving traveler experiences, increasing public safety and accessibility, reducing congestion and emissions, and modernizing multi-modal travel. These opportunities span the smart-city and infrastructure ecosystem, including modernization investments in areas such as all-electronic tolling, contactless payments in transit, dynamic pricing in curbside management, and analytics-based public safety and congestion management solutions. Additional details will be disclosed as Conduent finalizes its separation plans. Until a separation is complete, Conduent will continue to operate as a single company.
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SURG | Hot Stocks08:32 EDT SurgePays announces acquisition of Torch Wireless - SurgePays announced the acquisition of Torch Wireless, a provider of wireless broadband with the FCC's Affordable Connectivity Program, ACP, in a cash and limited royalties deal. Commenting on the acquisition, Chairman and CEO Brian Cox stated, "Acquiring Torch Wireless will allow SurgePays to open the entire country for our mobile broadband service. With the acquisition, SurgePays' participation as a provider within the ACP program will go from 14 states to 50 states. Torch has the additional benefit of also being a licensed lifeline carrier as well. We believe this acquisition will also provide us the ability to initiate our online enrollment effort nationwide using a broad scope which should drive subscriber acquisition costs lower."
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HPQ BRK.A | Hot Stocks08:31 EDT HP Inc. surges after Buffett's Berkshire Hathaway builds stake to over 11% - Warren Buffett's Berkshire Hathaway (BRK.A) has accumulated an 11.4% stake worth $4.2B in HP Inc. (HPQ), sending the shares of the personal computer maker higher in Thursday morning trading after the stake was disclosed in regulatory filings late Wednesday. Berkshire's holdings in HP were disclosed in two regulatory filings, as a Form 3 filing showed that Berkshire owned 10% of HP as of April 1 and a second Form 4 filing showed that Berkshire bought about 11 million shares during a three day span at prices ranging in the range of $35 to $37 to push its stake to 120,952,818 shares of HP as of Wednesday, April 6. In pre-market trading on Thursday, HP shares are up $4.07, or 12%, to $38.98.
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EFLVF | Hot Stocks08:31 EDT Electrovaya receives purchase orders of $10.6M - Electrovaya announced that the Company recently received further purchase orders valued at about $10.6M. The Company received a blanket purchase order from its OEM sales partner valued at more than $9.4M, and other purchase orders worth approximately $1.2M. The blanket purchase order will be replaced by detailed purchase orders specifying the battery models and delivery sites. It represents a firm commitment for deliveries by the end of September2022. It is anticipated that a major portion of the blanket purchase orders will be for a leading Fortune 100 company to power Materials Handling Electric Vehicles in distribution centers in the US.
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HTLZF | Hot Stocks08:28 EDT Hamilton Thorne 'optimistic on revenue performance' for 2022 - CEO David Wolf added, "Looking forward into 2022, we continue to be optimistic on our revenue performance, as demand and growth have returned to pre-pandemic levels in nearly every market that we serve. We do see the possibility for quarter-to-quarter variability during the year as we continue to work to manage supply chain issues and scale our manufacturing and logistics capabilities to meet demand. These factors, along with inflationary pressures that can affect our short-term costs for materials, freight, and personnel, and our continued investment in sales, marketing, R&D, and operational resources to support above-market growth, could impact margins and profitability during the year. Despite this possible quarter-to-quarter variability in 2022, we feel that we are well positioned to continue to execute on our strategy of driving long-term growth and EBITDA expansion by investing in our organic growth, while building scale, enhancing our product offerings, and expanding our geographic and direct sales footprint through acquisitions. I would like to reiterate my thanks to all of our employees who have shown remarkable resiliency and dedication to our business, as well as our customers, and to our business partners and shareholders for the support they have shown our company."
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IREN | Hot Stocks08:26 EDT Iris Energy reports 121 bitcoin mined in March - Iris Energy Limited published a monthly investor update for March 2022, containing its results from operations as well as construction and development updates. Corporate: An additional US$71 million equipment financing facility executed with NYDIG; Limited recourse facility; Secured by 19,800 Bitmain S19j Pro miners; 25 month term, 11% p.a. interest rate; ~10 EH/s of the Company's total stock of miners remain unencumbered; Substantial balance sheet flexibility to secure additional non-dilutive funding; Welcomed new hires; Giles Walsh as Vice President - Operations and Kane Doyle as Senior Manager - Investor Relations; Operations: Monthly operating revenue of US$5.1 million; 121 Bitcoin mined; 850 PH/s average operating hashrate. Construction: Mackenzie; Construction activities for the first 0.3 EH/s completed ahead of schedule, with the final steps of the grid connection process underway; Construction continues to progress to schedule for the remainder of the initial 1.5 EH/s, with advancement of the substation and additional data center buildings; Prince George: Foundation works for the first data center building completed ahead of schedule during March and currently in progress for two additional data center buildings; Substation excavation and foundation works also commenced in March, with general site grading and civil works continuing in parallel; Childress: Procurement and early mobilization activities continued to progress, with the site readying for commencement of construction.
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ANY | Hot Stocks08:24 EDT Sphere 3D explores debt financings to fund bitcoin mining fleet, crypto growth - Sphere 3D Corp. announced that it will explore debt financing options to raise incremental capital to fund the growth of the Company and maximize value to shareholders. Sphere 3D will evaluate its potential debt financing options to fund the Company's purchase of S19j Pro bitcoin miners, the expansion of its mining fleet, and its growth into new areas of cryptocurrency and blockchain. The review is part of an ongoing initiative by Sphere 3D's board of directors to optimize the operations and financing of the Company to facilitate growth and drive value for shareholders. "Raising capital is critical to achieving our growth objectives. We plan to identify debt financing options that address our funding requirements while creating long-term value for shareholders," said Patricia Trompeter, CEO of Sphere 3D. Jefferies LLC is acting as Sphere 3D's financial adviser in this review. There is no timeline.
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KRT | Hot Stocks08:22 EDT Karat Packaging enters joint venture agreement to build factory in Taiwan - Karat Packaging announced it has entered a definitive joint venture agreement with Happiness Moon to establish a new corporation, Green Earth Technology, to build a new 180,000 square-foot factory in Taiwan. The new facility will have robotic automation to manufacture compostable foodservice products from bagasse, a derivative of sugar cane pulp, which is a fast-growing source of 100% compostable foodservice products. Karat will hold a 49% interest in Green Earth, and its initial investment is approximately $6M. Manufacturing is anticipated to start in the second half of 2022, using proven machinery and technologies developed by Happiness Moon. The new plant is expected to produce approximately 7,560 tons of products in 2023, or approximately 648 containers of take-out boxes, plates, bowls, tableware, and other bagasse products. "Our investment demonstrates Karat's commitment and leadership position in providing eco-friendly disposable foodservice products," said Alan Yu, Chief Executive Officer. "Most bagasse products in the United States are currently imported from China. The joint venture will enhance Karat's vertical integration in its supply chain and accelerate growth and margin expansion."
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FPRGF GLNCY | Hot Stocks08:22 EDT Falco provides update on operating license, indemnity agreement with Glencore - Since entering into the Agreement in Principle with Glencore (GLNCY) regarding the Horne 5 development and the OLIA as announced on June 28, 2021, the Parties have essentially completed the Work Program that was initially announced in October 2020, as updated by press releases of February 11, 2021 and June 28, 2021. The Parties have also made meaningful progress with respect to the negotiation of the OLIA, including without limitation: the general terms for the creation of a Technical Committee and a Strategic Committee, comprised of both Glencore and Falco (FPRGF) representatives, to collaborate in the successful and safe development and operation of the Horne 5 Project; Falco's right to access, use and transform certain areas currently owned or controlled by Glencore; the right of Glencore to nominate one Glencore representative on the board of directors of Falco; the remaining conditions precedent to commencement of the dewatering, construction and operation of the Horne 5 Project; and certain principles, legal protections and other safeguards relating to the interaction of the Horne 5 Project with the operation of the Horne smelter of Glencore, given their physical proximity. Negotiations between the Parties are continuing in order to finalize the remaining terms of the OLIA. Following completion of the relevant field work and studies, Falco has filed the documentation responding to questions raised by the Ministere de l'Environnement et de la Lutte contre les changements climatiques in light of the acceptability analysis of the Corporation's Environmental impact assessment study. Such filing is an important milestone in progressing with the Corporation's permitting process towards a public hearing by the Bureau d'audiences publiques sur l'environnement and to the required provincial decree.
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SOLO NTXVF | Hot Stocks08:21 EDT ElectraMeccanica appoints Quigley III to board of directors - ElectraMeccanica Vehicles (SOLO) announced the appointment of William Quigley III to its Board of Directors. Most recently, Bill served as Senior Vice President and Chief Financial Officer at Nexteer Automotive Group (NTXVF).
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FPRGF GLNCY | Hot Stocks08:20 EDT Falco announces amendment, extension of convertible debenture, warrants - Falco Resources Ltd. (FPRGF) announced that the Corporation and Glencore Canada Corporation (GLNCY) have agreed to extend the maturity date of the $10 million senior secured convertible debenture dated October 27, 2020 issued by the Corporation to Glencore, from April 27, 2022 to April 27, 2023. The accrued interest on the existing Debenture will be capitalized such that the principal amount of the amended Debenture will be approximately $11,095,976. The Debenture was previously convertible into common shares of Falco at a price of $0.41 per share, subject to customary adjustments in accordance with the terms of the Debenture. In connection with the extension of the Maturity Date, the conversion price of the Debenture will be amended to $0.40 per share and the interest rate will be 8% per annum, compounded quarterly. In accordance with its terms, the Debenture can be converted into common shares of the Corporation within 10 days of the Maturity Date or on the Maturity Date except that Glencore shall have the right to accelerate its conversion right upon the provision of a prior written notice to the Corporation. Concurrently with the issuance of the Debenture on October 27, 2020, Falco also issued to Glencore 12,195,122 common share purchase warrants of the Corporation. Each Warrant is exercisable for one Share of the Corporation at an exercise price of $0.51 per share, subject to customary adjustments in accordance with the terms of the Warrants. The Warrants expire on April 27, 2022. The Corporation announces that it will extend the expiry date of the Warrants from April 27, 2022 to April 27, 2023. The exercise price of the Warrants will be reduced to $0.41 per share. All other terms and conditions of the Warrants will remain unchanged. As consideration for the amendment and extension, Falco will also issue to Glencore 2,866,036 common share purchase warrants of the Corporation. Each Additional Warrant is exercisable for one Share of the Corporation and will have identical terms to the terms of the Warrants. The amendment and extension of the Debenture and Warrants, and the issuance of the Additional Warrants remain subject to the approval of the TSX Venture Exchange. The Additional Warrants will be subject to a hold period of four months from the date of their issuance in accordance with applicable Canadian securities laws.
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PTRA | Hot Stocks08:17 EDT Proterra achieves multiple TRUE-certified zero waste facilities - Proterra announced that the company has been awarded TRUE Certification for multiple manufacturing facilities in recognition of their zero waste efforts. Proterra is now the first electric vehicle manufacturer to earn multiple TRUE Certifications for zero waste facilities, according to Green Business Certification. Proterra's Silicon Valley technology center in Burlingame, California and East Coast electric bus manufacturing plant in Greenville, South Carolina both achieved TRUE's Gold-level certification this year for diverting more than 90 percent of all qualified recycling, compost, and reusable materials from landfills, waste-to-energy and the environment.
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GRVI | Hot Stocks08:17 EDT Grove signs letter of intent to acquire pet care company - Grove has signed a letter of intent to acquire a pet care company. Grove aims to expand its product offerings through acquisitions made by its brand aggregation division, Upexi. The deal, if completed, will cement a foothold into the international pet care market. The pet care company is currently selling to the United States, Canada, and Australian markets, which will give Upexi an international presence in the industry. Grove CEO, Allan Marshall, commented, "We've been looking to tap into the international pet care industry with our own direct-to-consumer brands. Our patience in finding the best-fitting acquisitions through our Amazon brand aggregator division seems to be paying off and we hope to close this deal in the current quarter."
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TKLF | Hot Stocks08:16 EDT Yoshitsu announces new partnership to optimize warehouse operations - Yoshitsu announced that it has signed a further supplement to a service agreement, as previously supplemented on February 25, 2022 with two cross-border E-commence, warehousing and logistics companies, Hainan Lion Cross Border E-Commerce Company Limited and Lion Limited, further modifying and amending the original service agreement entered into on March 25, 2021, between the Company and Hainan Lion, to optimize international warehouse operations for expanding the Company's business presence in China. Pursuant to the Agreement, the Company has agreed to authorize the Lion Group as agents in relation to the Company's cross-border business in China. The Company agreed to entrust the Lion Group to act as an agent for third-party e-commerce consolidated services, bonded warehousing services, warehousing upgrading and expansion; the Lion Group agreed to reformulate the preferential price after the storage upgrade and charge the service fee in accordance with the new quotation table; and the Company agreed to pay, among other things, the Lion Group a construction fund in advance to upgrade the relevant services. The Agreement is effective from March 1, 2022, to February 28, 2025, and may be renewed annually thereafter upon mutual agreement of all parties thereto.
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IDEX | Hot Stocks08:16 EDT Ideanomics to open EV Experience Center and manufacturing facility in NJ - Ideanomics plans to unveil a new EV Experience Center in New Jersey. The facility, expected to be operational by the end of 2022, will support product development and scalable production of new and existing products across its range of electrification solutions. The facility will be approximately 48,500 square feet, including over 4,000 square feet dedicated to showroom space. Ideanomics' facility is expected to bring between 75 and 100 jobs to the state of New Jersey in executive leadership, commercial development, energy services, engineering, supply chain and logistics over the three years. The additional 44,000 square-feet of space will be dedicated to assembly, engineering, product development and production.
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PWFL | Hot Stocks08:16 EDT PowerFleet CFO Ned Mavrommatis to depart - PowerFleet announced that CFO Ned Mavrommatis will be leaving the Company on May 15, 2022 to pursue another opportunity. PowerFleet has the option for Mavrommatis to provide consulting services beyond May 15, 2022, until the Company appoints a new CFO. PowerFleet has initiated a search process with an executive search firm for a new CFO to execute on the Company's long-term growth plans. PowerFleet Global Controller Joaquin Fong will manage the day-to-day global finance operations until PowerFleet's CFO search is completed.
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XELA | Hot Stocks08:14 EDT Exela Technologies receives contract award worth $13.2M - Exela Technologies announced a contract award worth a total of $13.2M over the next four years. Exela's Exchange for Bills and Payments is the largest revenue contributor in the ITPS accounting segment. This solution utilizes several of Exela's platforms including payment processing, collaborative work flow and digital mailroom delivering a bespoke solution used by our knowledge workers and by our newly acquired customer.
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BAK | Hot Stocks08:13 EDT Braskem and Compact Membrane Systems launch Optiperm demonstration plant - Braskem and Compact Membrane Systems - CMS -, a provider of membrane systems for energy transition applications, announced that the pilot demonstration of CMS's Optiperm technology for light olefin paraffin separation has started up at Braskem's Marcus Hook facility. This is the largest demonstration of the Optiperm platform to date and includes commercial-sized modules. Optiperm, CMS's membrane technology, is designed to increase olefin production efficiency while decreasing waste streams, lowering carbon emissions, and reducing total energy usage. Successful demonstration paves the way for the roll out of Optiperm in olefins applications as well point source carbon capture for SMRs, steel, cement and other decarbonization applications. Commercial membrane products will be available from CMS as early as 2023.
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CRWD MNDT | Hot Stocks08:13 EDT Crowdstrike, Mandiant announce strategic partnership - CrowdStrike (CRWD) and Mandiant (MNDT) announced a strategic partnership that will help joint customers investigate, remediate and defend against increasingly sophisticated cybersecurity events that plague organizations globally. As part of the collaboration, Mandiant will utilize the CrowdStrike Falcon platform and subscription offerings for its incident response services and proactive consulting engagements for joint customers. Further, the Mandiant Managed Defense offering intends to include support for customers leveraging the Falcon platform later this year.
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AIP IBM | Hot Stocks08:13 EDT Arteris IP appoints Claudia Fan Munce to board of directors - Arteris IP (AIP) announced that Claudia Fan Munce will join Arteris IP's Board of Directors and will commence her service at the company's May 2022 board and committee meetings. Claudia Fan Munce's 30-year career at IBM (IBM) culminated with her role as Vice President of Corporate Development. Christian Claussen has informed the Board of Directors that he will not stand for re-election to the Board at the Company's upcoming annual meeting of shareholders, which is currently scheduled for June 14, 2022.
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LIAN SBUX | Hot Stocks08:11 EDT LianBio appoints Chen to board of directors - LianBio (LIAN) announced the appointment of Wei Wei Chen to the company's Board of Directors. Chen brings over 17 years of experience. Most recently, she served as Vice President, Chief Financial Officer of Starbucks (SBUX), China, Company Limited.
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BCYC | Hot Stocks08:11 EDT Bicycle announces preclinical data on SARS-CoV-2 antivirals at event - Bicycle Therapeutics announced updated preclinical results providing further evidence for Bicycles as a potential novel antiviral modality against SARS-CoV-2. The results will be presented in an oral presentation today at the 2022 Microbiology Society Annual Meeting in Dublin, Ireland. "These data provide further evidence of the bicycle platform's ability to successfully identify agents that bind to a broad range of target classes," said Michael Skynner, Ph.D., Chief Technology Officer of Bicycle Therapeutics. "We are encouraged by the preclinical data and believe that Bicycles could have significant advantages as novel small molecule antivirals to combat viruses such as SARS-CoV-2. We thank InnovateUK for funding this work and look forward to continuing to explore how these agents may be used as anti-viral therapeutics." Bicycle identified numerous discrete families of Bicycles binding to 12 unique epitopes across all domains of the SARS-CoV-2 spike protein. These Bicycles were rapidly identified and conjugated together, creating a wide range of multi-valent and bi-paratopic molecules. Bicycles targeting different epitopes on the spike protein were combined into one molecule. These small molecules were tested in partnership with researchers at the Medical Research Council Laboratory of Molecular Biology and shown to be highly active in vitro, in the sub-nanomolar range, at preventing SARS-CoV-2 infection of human cells. These compounds were further tested in partnership with experts at the University of Liverpool and shown to be highly potent when administered in vivo to rodent models of SARS-CoV-2 infection. In addition, these molecules have also been shown to be active in vitro across many of the SARS-CoV-2 variant strains, including Alpha, Beta, Delta and the current circulating strain Omicron.
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BTBT | Hot Stocks08:10 EDT Bit Digital renews miner hosting agreement with Compute North - Bit Digital announced a revised agreement with hosting partner Compute North. The revised agreement replaces and extends the term of a previous agreement for an additional 5 years and provides for approximately 6.5 MW of hosting capacity for 2,000 miners. The previously hosted equipment will be upgraded to new Bitmain Antminer S19j Pro miners. Compute North's facilities in Nebraska and Texas currently provide approximately 20 MW to power the company's miners. Overall expected hosting capacity with Compute North is approximately 48 MW.
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HLNE | Hot Stocks08:10 EDT Fetch Rewards raises $240M in a round led by Hamilton Lane - Fetch Rewards announced that it has raised $240M in equity and debt in its latest funding round at a valuation greater than $2.5B. The investment will fuel the company's aggressive growth as it continues its trajectory to build a digital loyalty and marketing platform unrivaled in its ability to drive consumer behavior and definitively measure impact. The round was led by leading private markets investment management firm Hamilton Lane on behalf of clients, with additional investment from Archer Venture Capital, NielsenIQ, TelevisaUnivision, a Yieldstreet fund, and others, along with continued investments from SoftBank Vision Fund 2, ICONIQ Growth, DST Global, Greycroft, Gaingels and Headline. This investment brings Fetch Rewards' total funding to over $500M.
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VECO | Hot Stocks08:10 EDT Veeco releases its ESG goals for 2022, beyond - Veeco Instruments unveiled its Environmental, Social, and Governance, ESG, goals for 2022 and beyond, showcasing the company's on-going commitment to corporate social responsibility. The goals, based on feedback received from the company's stakeholders and results of their 2021 materiality assessment, relate to climate change, product responsibility, diversity and inclusion and responsible corporate governance. Environment: Source 50% renewable energy for U.S. operations by 2030; By 2025, reduce normalized emissions from heating and purchased electricity by 10% in the U.S. from a 2021 baseline; Introduce a comprehensive hazardous chemical management program focused on REACH, RoHS, and TSCA. Social: Increase the representation of women at Veeco in the U.S. to 20% by 2025; Increase the number of women and underrepresented employees at Veeco; Continue to support diversity in science, technology, engineering and math education through our Veeco STEM Scholarship fund. Governance: Continue to expand and align our ESG disclosures with international frameworks and rating agencies.
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VTSI | Hot Stocks08:10 EDT VirTra receives letter of non-compliance from Nasdaq - VirTra announced that it received a written notice from The Nasdaq Stock Market on April 5, 2022, stating that because VirTra has not yet filed its Form 10-K for the year ended December 31, 2021, it is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. This notification has no immediate effect on the listing of VirTra's shares on Nasdaq. However, if VirTra fails to timely regain compliance with Nasdaq Listing Rule 5250(c)(1), its common stock will be subject to delisting from Nasdaq. Under Nasdaq rules, VirTra has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the plan, then Nasdaq may grant VirTra up to 180 days from the prescribed due date for filing the Form 10-K to regain compliance. If Nasdaq does not accept the plan, then VirTra will have the opportunity to appeal that decision to a Nasdaq hearings panel. VirTra CEO and Chairman Bob Ferris commented, "As we discussed in our recent business update and conference call, our growth over the past two years has necessitated implementing a new ERP system, which, along with COVID-related personnel limitations, has delayed the completion of the audit. We believe these transitory challenges are growing pains for an expanding company that is strengthening its infrastructure to catch up with the success of its business. We are working diligently to complete the independent audit and file our Form 10-K with the SEC as soon as possible while working with Nasdaq to maintain our listing."
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ERII | Hot Stocks08:08 EDT Energy Recovery receives over $20M in Gulf contract awards - Energy Recovery announced multiple contract awards in the Gulf region totaling over $20M for its PX Pressure Exchanger energy recovery devices. The orders are expected to be fulfilled by Q4 of 2023 and altogether, the desalination plants will be able to provide over one million cubic meters of water each day in this water-scarce region of the world. When these projects are completed, they will produce enough drinking water to fill over 400 Olympic swimming pools per day. Moreover, Energy Recovery estimates that the PXs supplied to these plants will prevent more than 424,000 metric tons of carbon dioxide emissions per year, which is equivalent to the amount of emissions from over 92,000 passenger cars. In just the past 20 years, the Gulf's population has increased by 55%, putting incredible strain on the region's water supply. Countries in the Gulf region rank among the most water-stressed countries in the world.
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ARDX | Hot Stocks08:08 EDT Ardelyx's Xphozah shows efficacy potential in hyperphosphatemia studies - Ardelyx announced multiple presentations covering additional positive clinical observations of Xphozah at the National Kidney Foundation 2022 Spring Clinical Meetings in Boston April 6-10. Ardelyx has completed three successful Phase 3 pivotal trials, and two additional Phase 4 clinical trials for Xphozah, an investigational, first-in-class, phosphate absorption inhibitor for the control of serum phosphorus in adult patients with chronic kidney disease on dialysis. Xphozah was discovered and developed by Ardelyx. Xphozah alone or in combination with binders, increased the proportion of patients able to achieve target phosphorus levels; patients reported improved experience with phosphate management routine, compared to previous phosphate lowering therapies; responder analysis demonstrates 77% of patients experienced phosphate lowering with Xphozah, with 41% of responders achieving a greater than 2 mg/dL decrease.
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TWST | Hot Stocks08:08 EDT Twist in antibody discovery pact for T-cell therapeutics with MediSix - Twist Bioscienceand MediSix Therapeutics, a cell therapy company creating novel therapeutics to target T-cell leukemia and lymphomaannounced a collaboration to discover novel antibodies against five undisclosed targets. This press release features multimedia. View the full release here: Under the terms of the collaboration, Twist will leverage its proprietary Library of Libraries to discover five novel antibodies directed against MediSix's targets. MediSix will use its unique platform technologies to develop novel CAR T-cell therapies targeting malignancies and autoimmune diseases without any CAR T-cell fractricide. Twist will receive an upfront payment and will be eligible to receive success-based clinical and regulatory milestone payments, as well as royalties on product sales. "We believe Twist's exceptional antibody discovery and optimization platform and extensive libraries, coupled with the company's ability to move quickly and efficiently, will support our efforts to develop effective immune cell therapies that specifically modulate relevant molecules and combat T-cell malignancies and autoimmune diseases," said Andrew Bruce, CEO of MediSix Therapeutics. "We look forward to continued work with Twist as we build our pipeline."
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AMTX | Hot Stocks08:08 EDT Aemetis completes testing of $12M diary biogas-to-RNG upgrading facility - Aemetis announced that its Aemetis Biogas subsidiary achieved a significant milestone by successfully completing testing of the $12M dairy biogas-to-RNG upgrading and compression facility for the Aemetis Biogas Dairy Digester Project in California. The biogas upgrading unit is co-located at the Aemetis Advanced Fuels Keyes ethanol plant near Modesto, California and adjacent to the utility natural gas pipeline. "Completing the construction and successful testing of the biogas upgrading and compression facility is a significant milestone which will allow Aemetis to sell -426 carbon intensity RNG to fleet customers across California," stated Eric McAfee, Chairman and CEO of Aemetis. "In addition to our two operating dairy digesters and 16 miles of biogas pipeline, Aemetis continues to be on schedule to add five dairy digesters to our network this summer to meet increasing demand for lower cost, low emission, carbon negative RNG to replace petroleum diesel in trucks, buses and other heavy transport vehicles."
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BGCP CME | Hot Stocks08:08 EDT BGC Partners Sunrise executes first block trade of Micro Bitcoin options - BGC Partners (BGCP) is excited to announce that BGC Financial L.P. has executed the first ever block trade of Micro Bitcoin options offered by CME Group (CME) via its Sunrise brand.
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BNGO | Hot Stocks08:07 EDT Bionano Genomics announces release of version 6.2 of NxClinical software - Bionano Genomics announced the launch of an integrated genomic scar analysis for homologous recombination deficiency in the version 6.2 software release of NxClinical. This feature provides a comprehensive, consistent, and automated analysis of biomarkers from next-generation sequencing and microarray data that can help clinical researchers stratify therapeutic response across multiple tumor types.
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AYI REZI | Hot Stocks08:07 EDT Acuity Brands appoints Sankpal as SVP, Growth, Transformation - Acuity Brands (AYI) announced the appointment of Sach Sankpal as Senior Vice President, SVP, Growth and Transformation, and a member of the executive leadership team. Sankpal will lead the technology organization, deploy the Company's Better.Smarter.Faster. operating system, and direct integration efforts for future Acuity mergers and acquisitions. Before joining Acuity, Sankpal was the President of Product & Solutions at Resideo (REZI).
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AREC | Hot Stocks08:07 EDT American Resources to acquire Energy Technologies - American Resources announced that has signed a binding letter of intent to acquire all of the outstanding stock of Energy Technologies, or ETI, a rare earth element and carbon technology company with a focus on analyzing and separating materials for the recovery and concentration of high-value products. The acquisition of ETI by American Resources will be completed using a combination of cash and stock in American Resources Corporation. It is anticipated that the team at ETI will continue in their current roles to help continue to grow the business, while each ETI, American Resources, and American Rare Earth leverage the operations, assets, and talent of the other respective businesses to propel future innovation and growth.
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ENPH | Hot Stocks08:05 EDT Enphase Energy expands battery storage in Nevada - Enphase Energy announced that installers of Enphase products in Nevada have seen growing deployments of the Enphase Energy System, powered by IQ Microinverters and IQ Batteries. Residential battery capacity is growing in Nevada, with forecasts estimating deployments will multiply nearly six-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie. In addition, Nevada homeowners can now choose to install Enphase's revolutionary IQ8 Microinverters. IQ8-based systems can provide Sunlight Backup during an outage, even without a battery. For homeowners who want a battery, there are no sizing restrictions on pairing an Enphase IQ Battery with IQ8 microinverters.
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SWX | Hot Stocks08:05 EDT Southwest Gas strongly recommends stockholders vote on WHITE proxy card - Southwest Gas announced it is mailing a letter to its stockholders in connection with its upcoming Annual Meeting of Stockholders, scheduled for May 12. The Board strongly recommends that stockholders vote "FOR ALL" its director nominees on the WHITE proxy card promptly upon receipt.
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VYNE | Hot Stocks08:05 EDT VYNE Therapeutics announces Phase 1b efficacy data for FMX114 - VYNE Therapeutics announced positive efficacy results from the Phase 1b segment of a Phase 1b/2a clinical trial evaluating FMX114 for the treatment of mild-to-moderate atopic dermatitis, AD. FMX114 is VYNE's proprietary investigational combination gel formulation of tofacitinib and fingolimod that is designed to address both the source and cause of inflammation in AD. The objective of the Phase 1b study segment was to evaluate the preliminary clinical safety, dermal tolerance and pharmacokinetics of FMX114 and vehicle when topically applied to individual qualifying AD lesions for 2 weeks. Efficacy was also assessed over the two-week treatment period. At the study baseline visit, each subject had two AD lesions of comparable severity and extent based on the Atopic Dermatitis Severity Index, ADSI, scoring assessment. Efficacy data for the Phase 1b segment of the trial was assessed based on the absolute and percent change relative to baseline in ADSI score at week 2. Mean ADSI scores for FMX114 and vehicle treated lesions were 7.8 and 8.0, respectively, at baseline. Mean reduction in ADSI score from baseline was -6.3 for FMX114 treated lesions compared to -4.3 for vehicle treated lesions at week 2 (p=0.004, LOCF, ITT). In addition, the effect of FMX114 on reducing pruritus was also assessed using the worst pruritus Numerical Rating Scale. Subjects reported a 96.4% mean reduction in worst pruritus NRS from baseline for lesions treated with FMX114 compared to a 45.8% mean reduction for vehicle treated lesions at week 2.
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LPSN | Hot Stocks08:04 EDT Starboard Value sends letter to LivePerson board of directors - Starboard Value, one of the largest shareholders of LivePerson, with an ownership interest of approximately 9.7% of the company's outstanding shares, announced that it has delivered a letter to the LivePerson Board of Directors. Reference Link
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GBOX | Hot Stocks08:03 EDT GreenBox purchases Sky Financial portfolio in cash, stock transaction - GreenBox POS announced it has entered into and closed on an asset purchase agreement with Sky Financial & Intelligence to purchase a portfolio of merchant accounts for $16M in cash and 500,000 restricted common shares. The shares distribution in connection with this transaction is not dilutive at this time, as they were previously loaned to the Company by its senior management in order to maintain compliance with the non-dilution provisions specified in the $100 M note issued to the Company on November 2, 2021. During FY21, $14.5M of the purchase price had already been recouped by GreenBox from residuals received by Sky. As a result, the cash outlay to acquire the merchant account portfolios in-house is approximately $1.5M in cash and is expected to be recovered in less than 6 months, based on the current rate produced by Sky's portfolio residuals to GreenBox. There will be no further compensation for Sky as GreenBox leverages its own sales team for new account acquisition. GreenBox Chairman Ben Errez commented: "The acquisition of the substantial Sky portfolios is yet another stride forward for us and accomplishes two very important things. By bringing a large merchant account portfolio in-house we eliminate the cost previously incurred from commissions and amplify our margin profile. Second, it allows GreenBox to own these customer relationships, securing a considerable portion of our processing volume base with the bonus of being able to offer additional revenue generating solutions. Lastly, Sky's processing volume played a vital role for us in meeting the fundamental hurdle requirements in our convertible note."
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CECE | Hot Stocks08:03 EDT CECO Environmental acquires Index Water - CECO Environmental acquired substantially all of the assets of Index Water, expanding its water treatment solutions portfolio serving the Middle East region. Terms of the deal were not disclosed. Over the last three years, CECO has been expanding its presence in the produced water, process and potable water, effluent and sewage and wastewater treatment markets.
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BKYI | Hot Stocks07:59 EDT BIO-key, 3Eye Technologies partner for identity-bound biometrics - BIO-key International announced a new partnership with 3Eye Technologies. The affiliation will enable BIO-key to introduce its award-winning solutions and IBB to a larger set of consumers, especially in financial services and local governments. This partnership will enable them to bring higher security and convenience to organizations looking for complete IAM solution packages. BIO-key will utilize 3Eye Technologies' network of VARs and MSPs to expand the scope of its channel sales and marketing and increase market education for organizations about the benefits of IBB-based solutions. By partnering with 3Eye Technologies, BIO-key will grow its Channel Alliance Partner program, expand the use of IBB and continue to be a thought leader in the cybersecurity space.
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KGC | Hot Stocks07:57 EDT Kinross Gold provides update on Great Bear development - Kinross Gold is pleased to provide an update on its development plan at the Red Lake, Ontario-based Great Bear project, following the completion of the acquisition of Great Bear Resources on February 24, 2022. Kinross plans to declare an initial inferred mineral resource as part of its 2022 year-end results and commence a pre-feasibility study in 2023. Kinross expects to complete approximately 200,000 metres of drilling using approximately 10 drill rigs in 2022, focusing on the LP Fault zone, the most significant discovery to date at the project. To prepare for the planned PFS, Kinross is commencing critical field work including metallurgy, hydrology and geotechnical drilling and test work, as well as permitting baseline studies. Kinross is budgeting approximately $60 million for project activities this year. The Company has also received updated assay results from 60 holes drilled in late 2021 and early 2022 in the LP Fault zone. The results continue to confirm gold mineralization, which is open along strike and at depth. Kinross has established an experienced, multi-disciplinary project team, which includes former Great Bear employees who have been retained by Kinross. The Company held a local employee integration event and will leverage the deep knowledge and experience of the team as it moves ahead with the project. "Since the closing of the Great Bear transaction, we have hit the ground running at the project," said J. Paul Rollinson, Kinross President and CEO. "The integration of the asset into our portfolio has advanced quickly and efficiently, and we have retained many of the experienced Great Bear exploration team members based in Red Lake to maintain continuity. We are excited to move ahead with this next phase of drilling and project activities to help realize our vision of a large, long-life mining complex." Kinross has begun its local stakeholder engagement program and looks forward to fostering strong relationships with local communities and with its partners in the Wabauskang and Lac Seul First Nations, on whose traditional territories the project is located. Kinross will prioritize developing the project in a manner that brings long-term socio-economic benefits to the region. The Company also plans to incorporate energy-efficient initiatives as it develops the long-term project, and will take a life of mine approach to design and planning to minimize environmental impacts.
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STZ STZ.B | Hot Stocks07:52 EDT Constellation Brands sees $5B-$5.5B capex for Beer Business over 2023 to 2026 - The company said,"The company plans to invest in the next increment of capacity in Mexico that will provide the long-term flexibility needed to support the expected future growth of its high-end Mexican beer portfolio. Total capital expenditures for the Beer Business are expected to be $5B-$5.5B over fiscal 2023 to fiscal 2026, with the majority of spend expected to occur in the first three years of that timeframe. The investment will support an additional 25M to 30M hectoliters of total capacity and includes construction of a new brewery in Southeast Mexico in the state of Veracruz, as well as continued expansion, optimization, and/or construction at the company's existing sites in Nava and Obregon. For the first quarter of fiscal 2022 we recorded a $666M impairment on the Mexicali facility, which is included above in the fiscal 2022 reported basis EPS results. The company continues to work with government officials in Mexico to determine next steps for our suspended Mexicali Brewery construction project and pursue various forms of recovery for capitalized costs and additional expenses incurred in establishing the brewery, however, there can be no assurance of any recoveries."
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STZ STZ.B | Hot Stocks07:45 EDT Constellation Brands continues to 'invest aggressively' in core business - CEO Bill Newlands said, "Driven by a relentless focus on building brands consumers love, our business continues to gain momentum. Despite various headwinds, we extended our leadership position in the high-end of the U.S. beer market, our high-end wine and spirits brands continue to outpace the industry complimented by successful innovation, we continue to invest aggressively in our core business and we've set a strong foundation for future growth."
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STZ STZ.B | Hot Stocks07:42 EDT Constellation Brands plans $500M of share repurchases in Q1 - Plans $500 million of share repurchases in the first quarter of fiscal 2023; when completed, will achieve approximately 75% of $5 billion commitment; fiscal 2023 guidance includes $500 million of first quarter share repurchases only.
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CDK | Hot Stocks07:40 EDT CDK Global trading resumes
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CDK | Hot Stocks07:40 EDT CDK Global trading halted, news pending
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APTX | Hot Stocks07:40 EDT Aptinyx trading resumes
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APTX | Hot Stocks07:40 EDT Aptinyx trading halted, news pending
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CAG | Hot Stocks07:38 EDT Conagra Brands drops 5% to $32.47 after lowering FY22 adjusted EPS view
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NTRA | Hot Stocks07:38 EDT Natera's Prospera DNA test shows efficacy in published study - Natera announced the publication of the VALID study, showcasing its Prospera Lung donor-derived cell-free DNA test in assessing rejection and allograft injury in lung transplant patients. The clinical validation, published in Transplant Direct, analyzed 195 biopsy-matched samples from 103 patients. Prospera Lung dd-cfDNA results were analyzed in connection with various complications from lung transplantation. The Prospera test exhibited "outstanding" performance data across all clinical events: AR vs. Stable; 0.91 AUC, AR+CLAD+INFXN vs. Stable; 0.76 AUC. The Prospera Lung test is already utilized in roughly 25% of U.S. lung transplant centers after its clinical launch in late 2021. Prospera is also being evaluated in a first of its kind clinical utility study, the multi-center randomized-controlled clinical trial.
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CAG | Hot Stocks07:36 EDT Conagra Brands experiencing elevated cost of goods sold inflation - The company also continues to experience elevated cost of goods sold inflation, the rate of which was higher than expected during the third quarter of fiscal 2022. The company has taken, and plans to continue taking, a variety of actions to counteract the impact of this inflation, including incremental pricing actions and cost savings measures. Due to the nature of the timing lag associated with announcing and implementing incremental pricing actions, the benefits associated with the actions are not expected to fully offset the incremental input cost headwinds within fiscal 2022.
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FSV | Hot Stocks07:35 EDT FirstService announces election of directors - FirstService Corporation announced that at its annual meeting of shareholders, held in Toronto yesterday, the eight director nominees listed in FirstService's management information circular dated February 25, 2022 were elected as directors of FirstService. Directors have been elected to serve until the close of the next annual meeting of shareholders. These directors include: Yousry Bissada, Bernard Ghert, Steve Grimshaw, Jay Hennick, D. Scott Patterson, Frederick Reichheld, Joan Sproul, and Erin Wallace.
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CAG | Hot Stocks07:35 EDT Conagra Brands CEO says 'we experienced higher-than-expected cost pressures' - Sean Connolly, president and CEO of Conagra Brands, commented, "Our business delivered another quarter of strong net sales growth as our brands continued to resonate with consumers. Our focus on strategic innovation and our intentional approach to investment helped us capture share across each of our domains - frozen, snacks, and staples. The team's dedication to executing our Conagra Way playbook has continued to pay dividends in the face of a challenging external landscape." He continued, "We experienced higher-than-expected cost pressures as the third quarter progressed and expect those pressures to continue into the fourth quarter, particularly in certain frozen, refrigerated, and snacks businesses. In response, we have taken steps to implement additional inflation-driven pricing actions. We will begin to see the benefits of these actions in the first quarter of fiscal 2023. Consumer demand has remained strong in the face of our pricing actions to date, but there will continue to be a lag between the timing of the incremental inflation and the benefits of our mitigating actions."
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SDH | Hot Stocks07:33 EDT Global Internet enters agreement to form JV for lithium-ion battery materials - Global Internet of People announced that its wholly-owned subsidiary, Zhuhai Investment, has entered into an investment agreement with the following parties to form a joint venture, JV, dedicated to the production of high-grade lithium-ion power battery anode materials: Shanghai Huiyang Investment, Guizhou Yilong New Area Industrial Development Investment, Guizhou Guangyao Management Partnership, Hainan Fuhe Investment Management Partnership, and Eight individuals who will be appointed to various management positions at the JV. The Agreement and related transactions were approved by SDH's shareholders at an extraordinary general meeting of shareholders held on April 1, 2022. Pursuant to the Agreement, Zhuhai will own 51% equity interest in the JV, and Huiyang, Shenhe, Yilong Investment, Guangyao and Fuhe will own a stake of 12.50%, 12.50%, 4%, 10% and 5% in the JV, respectively. The eight individual shareholders of the JV together will own an aggregated 5% equity interest in the JV. The JV will be established in the New Materials Industrial Park of Yilong District, Xingyi City of Guizhou Province, with a total investment amount of up to $98.13M and a total land area of approximately 266,800 square meters, for the production of high-grade lithium-iron power battery anode materials. Construction of the production facilities at the site is expected to be completed within 15 months after the JV obtains regulatory approvals for the construction of the production facilities. Pursuant to the Agreement, Zhuhai shall be responsible for the operation of the JV, with the assistance and support of other shareholders. Yilong Investment is obliged to use reasonable efforts to obtain, on behalf of the JV, national-level tax incentives and favorable government treatments, and will coordinate with local financial institutions to provide financing to the JV.
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INFY RYCEY | Hot Stocks07:32 EDT Infosys and Rolls-Royce launch aerospace innovation center in India - Infosys (INFY) and Rolls-Royce (RYCEY) inaugurated their joint 'Aerospace Engineering and Digital Innovation Centre' in Bengaluru, India. This centre has been established to provide high-end R&D services integrated with advanced digital capabilities to Rolls-Royce's engineering and group business services from India. As part of this collaboration, Infosys and Rolls-Royce will combine their aerospace, engineering and digital services capabilities to explore opportunities for driving digital and engineering innovation and associated cost optimisation strategies. Over the last decade, Rolls-Royce established a multidisciplinary engineering centre in Bengaluru as part of its efforts to boost engineering and R&D services in India.
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TWNK | Hot Stocks07:28 EDT Hostess Brands appoints Travis Leonard as CFO - Hostess Brands (TWNK) announced that Travis Leonard will join the company on May 11 as CFO. Leonard will oversee all financial matters as the company works to implement and deliver the long-term growth algorithm announced at its investor day on March 1. He succeeds interim CFO Mike Gernigin, who has been acting in this role since November 2021 and will remain with the company as chief accounting officer. Gernigin will report to Leonard. Prior to joining Hostess Brands, Leonard served as senior vice president and CFO of the medical segment at Cardinal Health (CAH), where he led a global finance organization supporting a $16.7B revenue medical products, distribution, and services business.
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CVEO | Hot Stocks07:26 EDT Civeo announces Conversant Capital purchases 958K shares - Civeo announced that announced that Conversant Capital has purchased approximately 958,000 Civeo common shares from entities affiliated with Lance Torgerson under a stock purchase agreement. Civeo and Conversant also have rights of first refusal on additional stock held by Mr. Torgerson. Following the sale, Mr. Torgerson continues to own approximately 750,000 Civeo common shares all of which are currently held in escrow as described in Civeo's SEC filings and cannot be sold at this time. The stock purchase agreement provides that, if prior to April 2023, Mr. Torgerson desires to sell the 375,000 Escrow Shares to be released from escrow in June 2022, Civeo will have the right, but not the obligation, to purchase all or any portion of such shares. If Civeo does not exercise its right of first refusal for all the shares, any remaining shares must be offered to Conversant for purchase. An additional 375,000 Escrow Shares are subject to release from escrow in June 2023 but are not subject to the rights of first refusal described above. In addition to the Escrow Shares, Mr. Torgerson holds 9,042 shares of Civeo Class A preferred shares, which will mandatorily convert into approximately 2.5 million Civeo common shares in April 2023. "Civeo is pleased to welcome Conversant as a new shareholder and hopes to benefit from its expertise in the hospitality and lodging sectors. We are supportive of this transaction and elected to waive certain of Mr. Torgerson's transfer restrictions under his registration rights agreement with the Company to facilitate this sale," said Bradley Dodson, President and CEO of Civeo Corporation. "In addition, the rights of first refusal for Civeo and Conversant are intended to facilitate an orderly transfer of ownership for the shares Mr. Torgerson is expected to receive from escrow in the near term, in the event Mr. Torgerson desires to sell those shares." , a private investment firm that pursues credit and equity investments in the real estate, digital infrastructure and hospitality sectors, has purchased approximately 958,000 Civeo common shares from entities affiliated with Lance Torgerson under a stock purchase agreement.
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IDR | Hot Stocks07:22 EDT Idaho Strategic announces high-grade intercepts from Klondike Zone - Idaho Strategic Resources is pleased to announce its latest high-grade intercepts from drill hole GC 22-212 in the Klondike Zone at the Golden Chest Mine, highlighted by 1.3 m assaying at 37.35 grams of gold per tonne, within a larger interval of 9.2 meters assaying at 8.77 grams of gold per tonne. The latest intercept highlights below are reported in grams of gold per tonne and in drilled thickness, as vein orientations have yet to be determined. GC 22-212: 8.77 g/t gold over 9.2 meters from 137.6 m to 146.8 m including the following higher-grade interval: 37.35 g/t gold over 1.3 m from 143.3 to 144.6 m; 3.14 g/t gold over 1.3 m from 149.6 to 150.9 m; 13.87 g/t gold over 0.7 m from 157.6 to 158.3 m; 3.17 g/t gold over 1 m from 192.2 to 193.2 m; 7.00 g/t gold over 1.4 m from 218.3 to 219.7 m. Idaho Strategic has spent the last six months of drilling, delineating a new zone of gold mineralization at the Golden Chest mine discovered in the hanging wall of the Idaho Fault within the Klondike shoot. The latest core hole, GC 22-212, drilled from the southernmost drill pad, has extended gold mineralization to the south roughly 50 meters from an existing face of underground workings accessed from the North Portal. The Company is actively re-establishing utilities to the North Portal in preparation to drive a drift to the newly discovered gold zone. From there, the Company will be better positioned to confirm the gold grade of the vein intercepts, define the shoot dimensions, and optimize a mining plan for future gold production. IDR's CEO and President, John Swallow commented, "The team has done it again. It's always impressive to drill a hole with grades like this at any project, let alone at an operating mine where its value is closer to realization. Our successful drill results in the Klondike over the past six months, followed by the decision to expand production into the Klondike shoot, is indicative of the mineral-rich environment and understanding that our team has developed of the geology at the Golden Chest. Our folks continue to demonstrate why they are the domain experts when it comes to exploration, drilling, and gold operations at the Golden Chest and in the greater Murray Gold Belt, and our drill results have proven that."
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VECT | Hot Stocks07:20 EDT Vectivbio expects cash to fund operations beyond release of topline STARS data - Cash and cash equivalents were $102.7 million as of December 31, 2021, compared to $40.2 million during the same period in 2020. The cash and cash equivalent of $102.7 million combined with the expected proceeds of up to $117 million from the agreements signed with Kreos Capital and Asahi Kasei Pharma Corporation in March 2022, are anticipated to provide the Company with the financial runway beyond topline STARS data.
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FURY | Hot Stocks07:16 EDT Fury Gold Mines commences drilling at Eau Claire deposit - Fury Gold Mines is pleased to announce that the 2022 exploration drilling program has commenced at its wholly-owned Eau Claire project in the Eeyou Istchee Territory in the James Bay region of Quebec. The goal of the program is to expand the high-grade Eau Claire gold deposit and follow up on the Percival discovery. The drill program will initially consist of approximately 15,000 metres, focusing on extending the resource along the southeast margin of the Eau Claire deposit, expanding the recent discovery at the Western Hinge target, and further testing the Percival discovery. "We are excited to resume drilling in Quebec where we see considerable opportunity to expand our Eau Claire Deposit and the highly prospective Percival target," said Tim Clark, CEO of Fury. "Our confidence in our targets is much higher this year due to the impressive amount of technical work and results we were able to obtain in the past 18 months." The resource expansion drill program will continue to target the high-grade southeast margin of the existing resource, which is currently defined by 204,000 ounces at 11.81g/t gold in the inferred category. This portion of the drill program is designed to extend the resource towards the southeast by connecting isolated resource blocks and expanding upon drill intercepts from 2021 including 6.04m of 11.56g/t and 7.09m of 23.27g/t. In addition, the Company plans to drill between historical intercepts further to the east. The recently discovered Hinge target located on the western flank of the defined Eau Claire resource is characterized by a westerly plunging anticline that defines the overall geometry of the deposit. The anticline is interpreted to extend approximately one kilometre to the west based on geologic mapping and geophysical data that shows a westerly plunging conductivity anomaly imaging sediments hosted in the core of the fold. All four holes the Company completed in 2021 testing the Hinge geometry intercepted multiple zones of gold mineralization. Drill hole 21EC-041, the westernmost drill hole completed to date, intercepted seven zones of gold mineralization over a 110m drill width including 3.0m of 9.36 g/t gold, 3.0m of 3.38 g/t gold and 1.5m of 4.94 g/t gold. From the limited drilling completed in 2021, Fury's technical team is highly encouraged by the confirmation of both the presence of multiple stacked zones of mineralization as well as the geometry of the anticline.
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ISTR | Hot Stocks07:14 EDT Investar Holding announces completion of $20M subordinated notes offering - Investar Holding Corporation announced the completion of a private placement of $20.0 million in aggregate principal amount of its 5.125% Fixed-to-Floating Subordinated Notes due 2032. The Notes will initially bear interest at a rate of 5.125% per annum from and including April 5, 2022, to but excluding April 15, 2027, with interest during this period payable semi-annually in arrears. From and including April 15, 2027, to but excluding April 15, 2032 or an earlier redemption date, the interest rate will reset quarterly to an annual floating rate equal to the then current three-month term Secured Overnight Financing Rate, plus 277 basis points, with interest during this period payable quarterly in arrears. Investar may redeem the Notes, in whole or in part, on or after April 15, 2027, or at any time upon the occurrence of certain events. The Notes are not subject to redemption at the option of the holders. The Notes are structured to qualify as tier 2 capital for regulatory capital purposes. Investar expects to utilize the net proceeds from the sale of the Notes to refinance its 2017 issuance of subordinated debt securities, for possible share repurchases and for general corporate purposes.
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FPI | Hot Stocks07:14 EDT Farmland Partners announces dismissal of class action lawsuit - The U.S. District Court in Colorado dismissed with prejudice the class action lawsuit brought against Farmland Partners and its management team after FPI's stock price dropped sharply immediately following the short and distort scheme against the company in the summer of 2018.
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MRNA | Hot Stocks07:14 EDT Moderna, IAVI partner to employ mRNA tech for global health threats - Moderna and IAVI announced a new collaboration to employ mRNA technology to meet the challenge of a range of global health threats. These diseases - HIV/AIDS, tuberculosis, antimicrobial-resistant enteric infections, and COVID-19 - are estimated to have caused at least 95 million new infections and more than 4 million deaths in 2020 alone. The collaboration combines the power of Moderna's mRNA platform and IAVI's expertise in discovery and product development to advance vaccines and antibodies designed to be globally accessible, especially in low-income countries where the targeted diseases have high incidence and prevalence. mRNA technology enables more rapid production of material for clinical testing than can be achieved by conventional recombinant protein synthesis or cell systems. The partners hope to harness this speed of production to accelerate research and development. If the products are shown to be efficacious and safe, they could be rapidly manufactured at a large scale. Within the partnership, the program furthest along in development is a Phase I clinical trial, IAVI G002, of HIV vaccine antigens being delivered by mRNA. The trial was initiated in January 2022 and is testing vaccine antigens that were originally developed as proteins by a team led by William Schief, Ph.D., professor at Scripps Research and executive director of vaccine design at IAVI's Neutralizing Antibody Center. In early 2021, Dr. Schief announced results from the IAVI G001 clinical trial, showing that an adjuvanted protein-based version of the immunogen eOD-GT8 60mer induced the desired B cell response in 97% of recipients. IAVI G002 takes this concept further: it will determine whether mRNA-encoded eOD-GT8 60mer followed by an additional mRNA-encoded immunogen induces further maturation of B cells. This trial, funded by the Bill & Melinda Gates Foundation, represents the first time mRNA for HIV vaccines is evaluated in humans. Another Phase I trial is expected to begin this year in South Africa and Rwanda. This trial, IAVI G003, is sponsored by IAVI and is made possible by the support of the American people through the U.S. President's Emergency Plan for AIDS Relief through the United States Agency for International Development. Additional support is provided by the Bill & Melinda Gates Foundation through grants to Moderna and to the Collaboration for AIDS Vaccine Discovery Vaccine Immunology Statistical Center. The trial will assess whether receipt of the priming vaccine antigen being evaluated in IAVI G002 in U.S. populations induces similar responses in African populations. Eventually, through these and future trials, the partners hope to demonstrate proof-of-principle for the elicitation of HIV broadly neutralizing antibodies in humans via the vaccine approach pioneered by Dr. Schief's lab. The other joint IAVI-Moderna programs for TB vaccine candidates and antibodies for SARS-CoV-2, HIV, and enteric pathogens are in preclinical stages. The TB collaboration will advance research on a set of promising antigens that the partners hope will bring much-needed diversity to the global preclinical TB vaccine pipeline. For the antibody programs, scientists at the NAC are collaborating with Moderna researchers with the aim to improve the antibody-mRNA platform and establish proof-of-concept for testing in humans.
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CIXX | Hot Stocks07:12 EDT CI Financial to sell up to 20% U.S. wealth management unit via U.S. IPO - The Board of Directors of CI Financial announced CI's intention to sell up to 20% of its U.S. wealth management business via a U.S. initial public offering . The company plans to submit a Form S-1 to the U.S. Securities and Exchange Commission this year. Since entering the U.S. wealth sector in early 2020, CI has become the country's fastest-growing wealth platform and the U.S. wealth management business has grown to become CI's largest business unit by assets. Once all outstanding acquisitions are completed, CI's U.S. wealth management assets will reach approximately $133B. "The growth in our U.S. wealth management business is incredible; however, in our opinion, the value we have created isn't reflected in our share price today," said Kurt MacAlpine, CI Chief Executive Officer. "After a thorough evaluation of our strategic options, we are confident that a U.S.-listed subsidiary IPO is the best route to shareholder value creation. The U.S. wealth management business now has sufficient scale to stand alone as a public company, creating an attractive, long-term destination for clients and advisors. We believe this is the best path to realizing our vision of becoming the leading ultra-high-net-worth and high-net-worth business in the U.S." CI intends to use the net proceeds from the IPO to pay down debt. CI will remain the majority shareholder of the U.S. wealth management business and currently has no intention of spinning out or otherwise divesting its remaining ownership interest. A final decision on the IPO size, conditions and timing is pending and will be subject to market conditions. e
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CTSO | Hot Stocks07:11 EDT CytoSorbents receives $740K from New Jersey Tax Certificate Transfer Program - CytoSorbents has received approximately $740K, net of transactions costs, in cash proceeds from the sale of its 2020 Net Operating Loss and R&D tax credits from the Technology Business Tax Certificate Transfer Program, sponsored by the New Jersey Economic Development Authority. CytoSorbents' flagship product, CytoSorb, is approved in the European Union and distributed in over 70 countries worldwide. CytoSorbents is conducting trials to support FDA marketing approval of DrugSorb-ATR for antithrombotic drug removal during cardiothoracic surgery. The New Jersey Technology Business Tax Certificate Transfer Program enables approved Technology and Biotechnology Businesses with Net Operating Losses to sell their Unused Net Operating Loss and Unused Research and Development Tax Credits for at least 80% of the value of the tax benefits to a profitable corporate taxpayer in the State of New Jersey that is not an Affiliated Business. This allows Technology and Biotechnology Businesses with Net Operating Losses to turn their tax losses and credits into cash to buy equipment or facilities, or for other allowable expenditures.
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HHLKF | Hot Stocks07:11 EDT OTC Markets Group welcomes Hot Chili to OTCQX - OTC Markets Group announced Hot Chili has qualified to trade on the OTCQX Best Market. Hot Chili Ltupgraded to OTCQX from the OTCQB Venture Market. Hot Chili Ltd. begins trading on OTCQX under the symbol "HHLKF.
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OSUR | Hot Stocks07:10 EDT OraSure announces FDA granted de novo authorization to OMNIgeneGUT Dx - OraSure Technologies announced its OMNIgeneGUT Dx, OMD-200, microbiome collection device, has been granted de novo authorization from the U.S. Food and Drug Administration, FDA, and the Company is commercially launching the device. "This innovation will support our customers as they seek to launch clinical assays or therapeutics based on the microbiome and seek the reliability of an FDA-authorized device. Given the innovation in the field, we believe we are on the cusp of seeing a number of FDA-authorized therapeutics and diagnostic products utilizing microbiome biomarkers," said Kathleen Weber, President of Molecular Solutions for OraSure Technologies. "Microbiome therapeutics and diagnostics have the potential to aid health care providers in treating and preventing disease on a more personalized level, and OraSure is positioned as a leader in the microbiome field."
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VITFF | Hot Stocks07:10 EDT Victoria Gold produces 24,358 ounces of gold in Q1 - Victoria Gold produced 24,358 ounces of gold during the first quarter of 2022. John McConnell, President and CEO commented, "During the first quarter, we successfully completed a six-week winter maintenance program and resumed stacking ore on the heap leach pad. As we head into spring, stacking rates will significantly increase along with gold production as fresh ore is placed under irrigation." The Company's seasonal operations plan for 2022 included curtailment of ore stacking on the heap leach pad during the 90 coldest days of the year, January through March. During this time a six-week maintenance program on the crushing and stacking facilities was completed. Periods of exceptionally cold weather this year impacted Q1 operations. Gold production in Q1 2022 was, as expected, seasonally low with limited ore stacking on the heap leach pad. Tonnes stacked on the heap leach pad in Q1 2022 were in line with Q1 2021. Total tonnes mined were lower in Q1 2022 compared to the same period last year as the Company has built up sufficient stockpiles throughout 2021, therefore further mining of ore was not advantageous. Similarly, waste mined was lower; a reflection of the fact there was less waste to move in Q1 2022 compared to Q1 2021. Mining rates will increase in future quarters as ore stacking rates on the heap leach pad accelerate. Both gold grade and metallurgical recovery continue to reconcile well against the Eagle reserve model.
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APTX | Hot Stocks07:09 EDT Aptinyx announces NYX-2925 study did not achieve primary endpoint - Aptinyx announced results from a Phase 2b clinical study evaluating the effects of NYX-2925 in patients with painful diabetic peripheral neuropathy, or DPN. NYX-2925 did not achieve statistically significant separation from placebo on the study's primary endpoint, which assessed the change from baseline in average daily pain on the numeric rating scale, or NRS, during week 12. The Phase 2b painful DPN study was a randomized, double-blind, placebo-controlled study designed to evaluate the efficacy and safety of NYX-2925 in 229 patients with advanced painful DPN. Following a screening period, eligible patients were randomized to receive oral doses of NYX-2925 50 mg or placebo once daily over the treatment period. The primary endpoint in the study was the change from baseline in average daily pain as reported on the zero-to-ten NRS during week 12 of the study. Additional pain endpoints included worst daily pain, pain on walking, and pain interference with sleep. The primary endpoint of the study was not achieved. Patients receiving NYX-2925 showed an improvement in average daily pain scores, but separation from placebo was not observed. Separation between NYX-2925 and placebo was also not observed on the other pain endpoints. NYX-2925 was well tolerated in the study, with no concerning safety issues observed. Detailed data from the study continue to be evaluated.
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XRTX | Hot Stocks07:08 EDT Xortx Therapeutics announces grant of US patent - XORTX Therapeutics is pleased to announce receipt of notification that the patent "Formulations of Xanthine Oxidase Inhibitors" will be granted by the United States Patent Office, USPTO. The patent covers compositions for, and methods of using XORTX's proprietary formulations of xanthine oxidase inhibitors for renal and other diseases where aberrant purine metabolism has been implicated in disease progression. Dr. Allen Davidoff, CEO of XORTX stated, "This newly granted patent covers compositions of formulations key to XORTX's platform technology and this issuance strengthens our intellectual property portfolio in the United States. Importantly, this US patent grant protects our novel, proprietary formulation program - XRx-008 for ADPKD, chronic kidney and other diseases where aberrant purine metabolism and chronic hyperuricemia may accelerate disease progression. Grant of this patent provides the protection to expand our clinical trials, commercialization and partnering opportunities in the United States. Including this newly allowed patent, XORTX now has four granted patents in the US and/or EU covering compositions and uses of uric acid lowering agents to treat and prevent kidney disease, insulin resistance and diabetic nephropathy."
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CTEK | Hot Stocks07:08 EDT CynergisTek gets six-figure deal for Red Team, support from children's Hospital - CynergisTek announces one of the leading pediatric and obstetric hospitals in the pacific region has signed a six-figure contract for Red Team services and advisory support. The hospital adds one thousand hours of support throughout the next year. CynergisTek's Red Team performs external network penetration and web application testing to evaluate the security posture of clients. These security risk assessments provide valuable insight into the effectiveness of an organization's cybersecurity program by identifying any gaps or vulnerabilities that cybercriminals may exploit and recommending prioritized remediation steps. CynergisTek's Remediation Support Services provide clients with advisory and hands-on support for the development and implementation of these steps to strengthen their security program maturity.
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CSIQ | Hot Stocks07:08 EDT Canadian Solar and Matrix Renewables partner in energy project in California - Canadian Solar, through its wholly-owned subsidiary Recurrent Energy, and Matrix Renewables, the TPG Rise-backed global renewable energy platform, announced an agreement whereby Matrix Renewables will acquire the Gaskell West 2 and 3 project of 105 MWac solar plus 80 MWh energy storage. The Gaskell West 2 and 3 project is located in Kern County, California, and is fully contracted holding five long term power purchase agreements with cities and utilities in California. The solar plus storage project is expected to reach commercial operation in late 2022. This hybrid project marks the first transaction between Matrix Renewables and Recurrent. Canadian Solar's majority-owned subsidiary CSI Solar will support the project by providing the turnkey battery storage solution for the 80 MWh storage part of the project. Matrix Renewables has been expanding its presence in the United States, its sixth country of operations, and opened its U.S. headquarters in Miami, Florida in August 2021.
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NXHSF | Hot Stocks07:08 EDT Next Hydrogen signs MOU with Black & Veatch for green hydrogen solutions - Next Hydrogen Solutions is pleased to announce it has signed a memorandum of understanding with Black & Veatch to offer a complete and integrated solution for producing large-scale green hydrogen for industrial customers. Building upon our collaboration in Black & Veatch's IgniteX Climate Tech Accelerator program, Next Hydrogen will combine its unique technology and electrolysis expertise with Black & Veatch's market leadership in large-scale industrial engineering solutions to target broad applications worldwide for industrial and transportation customers. The MoU is a non-exclusive agreement under which Next Hydrogen and Black & Veatch will develop a large-scale, multi-megawatt green hydrogen solution and identify areas of deeper collaboration and specific opportunities worldwide.
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HMHC | Hot Stocks07:07 EDT Houghton Mifflin completes sale to Veritas Capital - Houghton Mifflin announced that it has completed its previously announced sale to certain affiliates of Veritas Capital. The transaction, completed through a successful tender offer of $21 per share, implied an equity value for the company of approximately $2.8B. HMH's stock will cease trading on the Nasdaq under the ticker symbol HMHC effective April 7.
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MNTS | Hot Stocks07:07 EDT Momentus signs launch service agreements with SpaceX - Momentus announced that it has signed multiple launch agreements with SpaceX. These agreements, first announced during the company's March earnings call, reserve slots for Momentus on four upcoming SpaceX Transporter missions, including the Transporter-6 mission targeted for October, Transporter-7 targeted for January 2023, Transporter-8 targeted for April 2023 and Transporter-9 targeted for October 2023. These slot reservations are in addition to a launch services agreement signed in 2021 for the SpaceX Transporter-5 mission targeted for launch in June 2022. Momentus plans to fly its inaugural Vigoride demonstration flight on the upcoming SpaceX Transporter-5 mission, pending receipt of appropriate government licenses and approvals.
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APTO MRK | Hot Stocks07:06 EDT Aptose Biosciences appoints Ledru as CCO, Marango to resign as CFO, CBO - Aptose Biosciences (APTO) announced the appointment of Philippe Ledru to the position of Chief Commercial Officer, CCO. Ledru most recently served as Associate Vice President and Head of Oncology New Products at Merck & Co (MRK). Separately, Aptose announced that Dr. Jotin Marango, Senior Vice President, Chief Financial Officer, CFO, and Chief Business Officer, CBO, is resigning to pursue another opportunity. Dr. Rice will serve as Chief Accounting Officer, and with Janet Clennett, Vice President of Finance, will assume financial responsibilities until a permanent CFO is announced. Aptose and Dr. Marango plan to enter into an advisory agreement to ensure a smooth transition from his CFO duties.
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JAZZ HOWL | Hot Stocks07:05 EDT Jazz Pharmaceuticals, Werewolf Therapeutics to co-develop WTX-613 in cancer - Jazz Pharmaceuticals (JAZZ) and Werewolf Therapeutics (HOWL) have entered into a licensing agreement under which Jazz has acquired exclusive global development and commercialization rights to Werewolf's investigational WTX-613, a differentiated, conditionally-activated interferon alpha - IFNalpha - Indukine molecule. WTX-613 is currently in preclinical development. Jazz expects to submit an Investigational New Drug application to the FDA for WTX-613 in 2023. WTX-613 is an engineered IFN2b cytokine pro-drug that is activated specifically within the tumor microenvironment where it can stimulate IFNalpha receptors on cancer-fighting immune effector cells. This allows for potential application of WTX-613 across a wide range of cancer types, combination regimens and lines of therapy. WTX-613 was created leveraging Werewolf's proprietary Predator protein engineering technology, which integrates specialized protein design elements within a single molecule, called Indukine molecules. Jazz has secured exclusive global rights to WTX-613. Jazz will make an upfront payment of $15M to Werewolf, and Werewolf is eligible to receive development, regulatory and commercial milestone payments of up to $1.26B. Pending approval, Werewolf is eligible to receive a tiered, mid-single-digit percentage royalty on net sales of WTX-613.
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CDK | Hot Stocks07:05 EDT CDK Global to be acquired by Brookfield Business Partners for $8.3B - CDK Global has entered into a definitive agreement to be acquired by Brookfield Business Partners, together with institutional partners, for a total enterprise value of $8.3B. Under the terms of the merger agreement, Brookfield will commence a tender offer to acquire all of the outstanding shares of CDK. CDK shareholders will receive $54.87 per share in cash upon completion of the transaction, which represents a 30% premium to the unaffected closing price of CDK stock on Febraury 18, the last full trading day prior to market speculation regarding a potential sale of the company. The agreement was unanimously approved by CDK's board of directors, which recommends that CDK stockholders tender their shares in the offer. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of CDK's outstanding shares, the expiration or termination of the antitrust waiting period, and other customary conditions, after which CDK's common stock will no longer be listed on Nasdaq. Following the successful completion of the tender offer, Brookfield will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. This transaction is expected to close in Q3.
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BDTX BMY | Hot Stocks07:05 EDT Black Diamond Therapeutics appoints Wendy Dixon to board of directors - Black Diamond Therapeutics (BDTX) announced the appointment of Wendy Dixon, Ph.D., to its Board of directors. Additionally, Brad Bolzon, Ph.D., Chairman and Managing Director of Versant Ventures and a member of Black Diamond's Board of Directors since 2017, has resigned from the Board. Dr. Dixon previously served as the Chief Marketing Officer and President of Global Marketing at Bristol Myers Squibb (BMY) for eight years.
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T RDCM | Hot Stocks07:05 EDT AT&T renews multi-year assurance contract with Radcom - Radcom (RDCM) announced that it has renewed its multi-year contract with AT&T Services. (T) With this renewal, Radcom will continue its relationship with AT&T, providing automated service assurance for its cloud network to ensure the network performance and service quality.
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BB | Hot Stocks07:03 EDT BlackBerry reaches agreement in principle to settle class action lawsuit - BlackBerry announced that it has reached an agreement in principle to settle the consolidated securities class action lawsuit captioned Pearlstein v. Blackberry Limited, et al., Case No. 13 Civ. 7060 pending against the company and certain of its former officers in the U.S. District Court for the Southern District of New York. The consolidated class action complaint was filed in October 2013, as described in the company's Annual Report on Form 10-K filed with the SEC on April 1. The agreement in principle was reached following a voluntary mediation process resulting in the parties' acceptance of the mediator's recommendation for settlement. The court has granted the parties' jointly request to adjourn further proceedings in the matter pending approval of the final settlement. The agreement in principle contemplates an aggregate cash payment by the company of $165M to settle the claims brought on behalf of all persons who purchased or otherwise acquired BlackBerry shares on the NASDAQ between March 28, 2013 and September 20, 2013. The parties have agreed to negotiate in good faith to execute a definitive stipulation of settlement and related documents to be filed with the court. The company anticipates that the stipulation of settlement will provide a full release of all claims against all defendants, including the company and its officers, and will expressly deny any liability, wrongdoing or responsibility by any of the defendants. The Company anticipates that, upon final approval of the settlement, the litigation will be dismissed with prejudice. Approval by the court, notice to the putative class, and the satisfaction of customary conditions to effectiveness may take several months. While BlackBerry believes that the allegations in the case were without merit, it also believes that eliminating the distraction, expense and risk of continued litigation is in the best interests of the company and its shareholders. As previously disclosed, given the uncertainties of litigation, BlackBerry had not been in a position to assess the likelihood of any potential loss or adverse effect on its financial condition or to reasonably estimate the amount of potential loss in connection with the class action. As a result of the entry into the agreement in principle, BlackBerry expects that the above-referenced $165M will be incorporated into its results of operations and financial condition for the fiscal quarter ending May 31, 2022. The company does not expect to recover any portion of this amount from insurance proceeds.
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BITF | Hot Stocks07:03 EDT Bitfarms receives approval for uplisting to Toronto Stock Exchange - Bitfarms has received final approval for the listing of its common shares on the Toronto Stock Exchange. The Company's common shares will commence trading on the TSX effective market open on April 8, 2022. The Company's common shares will cease trading on the TSX Venture Exchange concurrently with the commencement of trading on the TSX. The common shares will continue trading under the symbol "BITF" on both the Nasdaq and the TSX. No further action is required by Bitfarms shareholders.
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TNXP | Hot Stocks07:02 EDT Tonix Pharmaceuticals initiates enrollment in RESILIENT study of TNX-102 - Tonix Pharmaceuticals announced that the first participant was enrolled in the Phase 3 RESILIENT study of TNX-102 SL1 5.6 mg for the management of fibromyalgia. RESILIENT is the Company's Phase 3 study of TNX-102 SL, a proprietary sublingual tablet formulation of cyclobenzaprine HCl taken daily at bedtime for the management of fibromyalgia. An interim analysis by an Independent Data Monitoring Committee of the first 50% of enrolled patients for a potential sample size readjustment or early stop for futility is expected in the first quarter of 2023. TNX-102 SL is in mid-Phase 3 development for the management of fibromyalgia. "Tonix remains dedicated to improving the lives of the millions suffering from fibromyalgia and we are pleased to have our confirmatory, potentially pivotal Phase 3 RESILIENT study getting underway," said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. "Fibromyalgia is a complex syndrome in which many patients remain unsatisfied by existing treatment options. Based on the positive results from RELIEF study, together with our general understanding of TNX-102 SL tolerability, we are excited to initiate our new RESILIENT Phase 3 study for fibromyalgia."
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ABM | Hot Stocks07:02 EDT ABM completes acquisition of Momentum Support - ABM announced it has completed the acquisition of Momentum Support, headquartered in Dublin, Republic of Ireland, in an all cash transaction. Momentum is a leading independent provider of facility services, primarily janitorial, across the Republic of Ireland and Northern Ireland. Momentum generated annual revenue of approximately $70M in 2021 and has a workforce of 2,300. This acquisition is reflective of ABM's ELEVATE strategy to grow via strategic acquisitions which expand the Company's footprint in attractive geographies and end-markets. The addition of Momentum gives ABM access to Momentum's blue-chip customer base and provides the opportunity to cross sell ABM services to existing ABM clients who also have a footprint in the Republic of Ireland and Northern Ireland. Further, by acquiring Momentum, ABM increases its ability to serve clients in faster growing markets like technology and life sciences, many of whom maintain a significant presence in Ireland. Momentum's results will be reported as part of ABM's Business & Industry segment. In the transaction, ABM acquired the equity interests of three legal entities which together comprised Momentum Support. Terms of the transaction were not disclosed.
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LH | Hot Stocks06:58 EDT LabCorp initiates quarterly dividend of 72c per share - Labcorp has declared a cash dividend of 72c per share of common stock. The dividend will be payable on June 9 to stockholders of record as of the close of business on May 19. Labcorp currently expects to continue to pay quarterly cash dividends, with future declarations subject to Board approval at its discretion.
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EVFM | Hot Stocks06:57 EDT Evofem announces Nasdaq grants request to remain listed - Evofem announced the Nasdaq Hearings Panel has granted Evofem's request to continue its listing on Nasdaq, pending the outcome of the stockholder vote on the company's reverse stock split proposal scheduled to take place at its annual general meeting on May 4.
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ACM | Hot Stocks06:57 EDT Aecom to serve as Lead Engineering Firm for Texas Department of Transportation - Aecom is serving as Lead Engineering Firm for the team selected by the Texas Department of Transportation to deliver the Southeast Connector, a project that aims to improve mobility, safety, and transportation options for travelers in the Fort Worth area. In this role, Aecom will work with Kiewit Engineering Group to support South-Point Constructors, a fully integrated joint venture between Kiewit Infrastructure South Co. and Austin Bridge & Road, with a combined 140 years' experience delivering projects for TxDOT. The nearly $1.6B base-bid Southeast Connector project consists of the design, construction, and maintenance of over 16 miles of non-tolled freeways, frontages, and local access in the Fort Worth area at interchanges I-820, I-20, and US 287.
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BKE | Hot Stocks06:53 EDT The Buckle reports March 2022 net sales down 10.4% year-over-year - The Buckle reported that comparable store net sales, for stores open at least one year, for the 5-week period ended April 2, decreased 9.7% from comparable store net sales for the 5-week period ended April 3, 2021. Net sales for the 5-week fiscal month ended April 2 decreased 10.4% to $124.9M from net sales of $139.4M for the prior year 5-week fiscal month ended April 3, 2021. Comparable store net sales year-to-date for the 9-week period ended April 2, 2022 increased 4.1% from comparable store net sales for the 9-week period ended April 3, 2021. Net sales for the 9-week fiscal period ended April 2, 2022 increased 3.5% to $212.7M from net sales of $205.5M for the prior year 9-week fiscal period ended April 3, 2021.
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GSK | Hot Stocks06:49 EDT GlaxoSmithKline to stop importing food supplements, vitamins to Russia - "Our first priority is the safety, security and wellbeing of GSK people, wherever they are located. After this, our focus is to make sure our products reach the people who need them," the company said. GSK in Ukraine: GSK has stopped its business operations and are focused on advising and supporting its people who are staying in their homes and those who wish to relocate. Humanitarian support: The company is providing targeted humanitarian support through long-term NGO partners who have teams on the ground in Ukraine and neighboring countries. GSK in Russia: "We support global sanctions and will comply with them. We have taken a precautionary approach to stop, to the fullest extent possible, any direct involvement and support to the Russian government and military," the company said. The company has stopped advertising and promotional activities in Russia and any profits it make from its operations in Russia in the interim will be used in support of humanitarian relief efforts. Pharmaceuticals and Vaccines: The company continues to supply medicines and vaccines to Russia. It will prioritize supply of products that are essential for people's health and in compliance with sanctions. It will not start any new clinical trials and will not enroll new patients into existing clinical trials. Consumer Healthcare: Going forward, GSK Consumer Healthcare will prioritize supply of over the counter, OTC, medicines and reduce its oral health products. The company will no longer import food supplements and vitamins.
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GFL | Hot Stocks06:47 EDT GFL Environmental increases quarterly cash dividend 10% to 12c per share - GFL Environmental announced that the board of directors of the company has declared a 10% increase to the regular quarterly cash dividend on the company's subordinate voting and multiple voting shares. The regular quarterly cash dividend, which increases from 11c per share to 12c per share, will be paid on April 29 to shareholders of record at the close of business on April 18. The company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act.
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PFE | Hot Stocks06:46 EDT Pfizer to acquire ReViral for up to $525M - Pfizer and ReViral announced that the companies have entered into a definitive agreement under which Pfizer will acquire ReViral, a privately held, clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing novel antiviral therapeutics that target respiratory syncytial virus. Under the terms of the agreement, Pfizer will acquire ReViral for a total consideration of up to $525M, including upfront and development milestones. If successful, Pfizer believes annual revenue for these programs has the potential to reach or exceed $1.5B. The proposed transaction is subject to customary closing conditions, including receipt of regulatory approvals.
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SECO | Hot Stocks06:37 EDT Secoo Holding, ZiWu announce NFT cooperation - Secoo has developed strategic cooperation with ZiWU, a subsidiary of Meta Media. In the future, the two parties will draw on each other's advantages to integrate the whole industry chain through resource sharing and work together on collections and NFTs. At the same time, Secoo and ZiWU,together, will explore the business model and value of digital arts and dive deep into the blue ocean market of NFT.
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AL EADSY | Hot Stocks06:36 EDT Air Lease announces lease placement of one used Airbus A330-200 with Sentra - Air Lease (AL) announced a long-term lease placement for one used Airbus (EADSY) A330-200 aircraft with Sentra Airways. Scheduled to deliver this summer, the A330-200 will be the first aircraft in the fleet of the UK startup airline.
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APOG | Hot Stocks06:32 EDT Apogee Enterprises reports Q4 adjusted EPS 91c, consensus 71c - Reports Q4 revenue $328M, consensus $323.33M. "Our team continued to build momentum in the fourth quarter, delivering revenue growth, and increased adjusted earnings in what remains a challenging operating environment," said CEO Ty R. Silberhorn. "I am proud of what our team accomplished in FY22, achieving full-year revenue and adjusted EPS growth, while driving significant progress on our new strategy to position the company for long-term profitable growth. Looking ahead, we will continue to execute our three-pillar strategy, working to become the economic leader in our target markets, actively managing our portfolio to improve margins and returns, and strengthening our core capabilities to enable profitable growth. I am confident our team will drive further progress toward our financial goals in the new fiscal year."
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ANNX | Hot Stocks06:31 EDT Annexon completes enrollment in Phase 2 ARCHER trial evaluating ANX007 - Annexon announced the completion of enrollment in the Phase 2 ARCHER trial evaluating its anti-C1q candidate, ANX007, in patients with geographic atrophy. Annexon plans to report topline data on the primary endpoint in the first half of 2023, following 12 months of treatment, with full data expected after the conclusion of the six-month off-treatment period.
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JKS | Hot Stocks06:04 EDT JinkoSolar delivers bifacial modules to a 204MW Solar Power Plant in Greece - JinkoSolar announced that it has delivered its bifacial modules to a 204MW Solar Power Plant in Kozani, Western Macedonia, Greece. The Kozani project consists of 18 project sites adding up to a total of 204MW capacity. JinkoSolar has delivered more than 500,000 bifacial modules to juwi Hellas Renewable Energy Sources S.A.The Kozani project was inaugurated on April 6 and will deliver up to 320M kilowatt-hours per annum when fully ramped up, supplying electricity to more than 75,000 households. The Kozani project is one of the largest bifacial projects ever built in Europe.
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HFFG | Hot Stocks06:03 EDT HF Foods Group receives Nasdaq notice of non-compliance - HF Foods Group announced that the company received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market on April 1 stating that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the SEC. The Nasdaq notification letter was sent as a result of the company's delay in filing its Annual Report on Form 10-K for the year ended December 31, 2021. The Nasdaq notification letter has no immediate effect on the listing or trading of the company's common stock on the Nasdaq Capital Market.
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KBR | Hot Stocks06:02 EDT KBR wins ammonia technology contract from DL E&C - KBR announced it has won an ammonia technology contract from DL E&C for NeuRizer's carbon-neutral fertilizer project in Australia. Under the terms of the contract, KBR will provide technology licensing and engineering for the 1,600 MTPD ammonia plant based on KBR's highly efficient Purifier process. This is the first fully integrated urea production facility in the world leveraging an innovative configuration for in-situ syngas production, gas processing, ammonia and urea manufacturing and carbon geo-sequestration.
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REGN SNY | Hot Stocks05:31 EDT Regeneron, Sanofi announce approval to expand Dupixent marketing authorization - Regeneron (REGN) and Sanofi (SNY) announced that the European Commission, or EC, has expanded the marketing authorization for Dupixent in the European Union. Dupixent is now also approved in children aged six to 11 years as an add-on maintenance treatment for severe asthma with type 2 inflammation characterized by raised blood eosinophils and/or raised fractional exhaled nitric oxide, or FeNO, who are inadequately controlled with medium to high dose inhaled corticosteroids, or ICS, plus another medicinal product for maintenance treatment.
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SHEL | Hot Stocks05:28 EDT Shell sees Q1 production 860,000-910,000 boepd - Production is expected to be between 860,000 and 910,000 barrels of oil equivalent per day driven by maintenance activities, including the planned turnaround of one of the trains at Pearl GTL. The outlook includes approximately 50,000 boe/d for the Canadian Shales assets. The company said, "For the first quarter 2022 results, the post-tax impact from impairment of non-current assets and additional charges (e.g. write-downs of receivable, expected credit losses, and onerous contracts) relating to Russia activities are expected to be $4 to $5 billion. These charges are expected to be identified and therefore will not impact Adjusted Earnings. Details of the accounting treatment and impact of ongoing developments will be provided at the first quarter 2022 results announcement."
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CZR EIHDF | Hot Stocks05:24 EDT Caesars revises agreement to sell non-US assets of William Hill to 888 Holdings - Caesars (CZR) announced a revised agreement to sell the non-US assets of William Hill to 888 Holdings (EIHDF) for a revised enterprise value of between GBP 1.95B and GBP 2.05B. The revised agreement reflects a GBP 250M reduction in consideration payable at closing and Caesars being entitled to receive up to GBP 100M as deferred consideration subject to the enlarged business of 888 Holdings meeting certain 2023 financial targets. After the repayment of debt and other working capital adjustments and subject to customary closing purchase price adjustments, Caesars expects to receive net proceeds from the transaction at closing of approximately $785M. The transaction is subject to receipt of the approval of shareholders of 888 Holdings and regulatory approvals. Caesars' expectation is that the transaction should close in June.
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BRAG | Hot Stocks05:20 EDT Oryx Gaming goes live in Portugal with Betclic - Oryx Gaming, a Bragg Gaming company, announced that it has gone live with its exclusive iGaming content portfolio in Portugal with prominent online gaming operator, Betclic. The company's debut in the Portugal iGaming market represents its seventh regulated European country launch since April 2021.
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CME | Hot Stocks05:18 EDT CME Group reports Q1 international ADV of 7.3M contracts, up 18% - CME Group announced that it achieved quarterly international average daily volume, or ADV, of 7.3M contracts in Q1, up 18% year on year. Reflecting all trading reported from outside the United States, this volume was driven largely by growth in Equity Index products, up 31%, and Interest Rate products, up 19%. In Q1, Europe, Middle East and Africa ADV hit 5.1M contracts, up 17% from Q1 2021. This was driven by a strong performance in Equity Index products and Agricultural products in the region, up 29% and 18% respectively, compared to the same period in 2021. Asia Pacific ADV reached a record 1.9M contracts in Q1, up 22% year on year. This was driven by 43% growth in Energy products, 33% growth in Equity Index products and 30% growth in Interest Rate products in the region. Latin America ADV grew to 162,000 contracts in Q1, up 28% from Q1 2021. This was led by 40% growth in Equity Index products and 30% growth in Interest Rate products in the region. Globally, CME Group reported ADV of 26M contracts in Q1, up 19% over the same period in 2021. This increase was largely driven growth in Equity Index products, up 30%, and Interest Rate products, up 21%.
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PSFE | Hot Stocks05:11 EDT Paysafe expands partnership with betPARX - Paysafe has expanded its partnership with betPARX, a Pennsylvania-based gaming company owned by Greenwood Gaming and Entertainment. Building on Paysafe's payments support for the Play Gun Lake brand in Michigan that is powered by betPARX, Paysafe will now also provide payments for the betPARX mobile apps for Pennsylvania and New Jersey. Through Paysafe's integration with betPARX technology partner Playtech's iGaming PAM Information Management Solution, or IMS, platform, users in both Pennsylvania and New Jersey can make streamlined deposits to fund their betPARX accounts with their credit or debit card. All transactions will be processed seamlessly through Paysafe's payment gateway. BetPARX users can also fund their wagers using Paysafe's alternative payment solutions. These include the Skrill USA digital wallet, which was upgraded in Q4 with new functionality for instant funding of deposits, plus Paysafe's Paysafecash and paysafecard eCash solutions. Paysafe will also enable betPARX users to cash-out winnings. Payouts can be transferred directly into players' Skrill USA accounts, with funds accessible in real time or through their bank accounts.
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J GE | Hot Stocks05:09 EDT Jacobs, GE selected to support phase life extension work at Sizewall B - Jacobs (J) was selected alongside General Electric (GE) and Westinghouse Electric to support preliminary phase life extension work at the Sizewell B nuclear power station in Suffolk, United Kingdom. EDF, operator of Sizewell B, is a long-term operation, or LTO, program aimed at extending the station's operating lifespan by 20 years to 2055. Phase 1 of the program entails scoping works and cost-benefit analysis to underpin the business case before a final investment decision is made in 2024. EDF estimates the total value of this phase at $14M. Sizewell B is the only pressurized water reactor and the most modern and efficient plant in the U.K.'s civil nuclear fleet. The U.K.'s nuclear stations have generated more than 2,000 terawatt hours of zero carbon electricity since 1976 - enough to power all the U.K.'s homes for more than 18 years - and their output has avoided the emission of 700M tons of CO2.
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