Stockwinners Market Radar for July 14, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
DNA | Hot Stocks20:15 EDT Cathie Wood's ARK Investment bought 723.5K shares of Ginkgo Bioworks today
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COIN | Hot Stocks20:14 EDT Cathie Wood's ARK Investment bought 91K shares of Coinbase today
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SQ | Hot Stocks20:13 EDT Cathie Wood's ARK Investment bought 102K shares of Block today
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SHOP | Hot Stocks20:13 EDT Cathie Wood's ARK Investment bought 343K shares of Shopify today
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BTN | Hot Stocks20:02 EDT Fundamental Global buys additional shares of Ballantyne Strong - Fundamental Global "filed an amendment to its Schedule 13D today, to reflect the recent purchases of 80,000 shares of common stock of Ballantyne Strong, which were previously reported in its Form 4 filings. Following these transactions, Fundamental Global, its affiliates and certain related parties, including its Chairman Joseph H. Moglia, collectively hold approximately 30.8% of BTN's common stock."
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FGF | Hot Stocks20:01 EDT Fundamental Global buys additional FG Financial shares - Fundamental Global "filed an amendment to its Schedule 13D today, to reflect the recent purchases of 632,911 shares of common stock of FG Financial Group, Inc., which were previously reported in its Form 4 filings, and which can be viewed here. Following these transactions, Fundamental Global and its affiliates, including Ballantyne Strong, Inc., collectively hold approximately 58.5% of FGF's common stock."
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AMZN | Hot Stocks19:13 EDT Amazon creates 4,000 new permanent jobs in the U.K. - Amazon said in a blog post that it is creating more than 4,000 new permanent roles across the U.K., bringing its permanent workforce to 75,000. This means Amazon will have created 40,000 new jobs in the UK in the past three years, the company said. In addition to Amazon's direct employment, the company's operations are estimated to support more than 410,000 additional jobs. There are now more than 85,000 British small and medium-sized businesses which sell on Amazon, supporting 250,000 jobs across the U.K., and more than 160,000 jobs supported in Amazon's supply chain, according to research by an independent economic consultancy, Keystone. The jobs announced today include roles in corporate and technology functions in Amazon and Amazon Web Services, including software development, product management, and engineering; as well as jobs in the operations teams in fulfilment centres, sort centres and delivery stations. In addition to Amazon's permanent employees, the company previously announced the creation of 1,500 new apprenticeships in 2022, across 40 different schemes. Reference Link
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RIO | Hot Stocks18:33 EDT Rio Tinto reports Q2 Pilbara iron ore production 78.6 Mt, up 4% y/y - Reports Q2 Bauxite production 14.1 Mt, up 3% y/y. Reports Q2 aluminum production 731 kt, down 10% y/y. Reports Q2 mined copper production 126 kt, up 9% y/y. Rio Tinto CEO Jakob Stausholm, said: "We strengthened our operational performance at a number of sites, which we will now replicate across the portfolio. The delivery of first ore at Gudai-Darri, our first greenfield mine in the Pilbara for over a decade, increases mine capacity and supports production of our flagship Pilbara Blend(TM). We also fired the first draw bell at the Oyu Tolgoi underground project in June, and started producing scandium and tellurium. These critical minerals are being extracted from existing waste streams at our titanium operation in Quebec and copper operation in Utah, without the need for new mining. We are committed to transforming our culture and building better relationships. In May, we signed a Heads of Agreement with the Puutu Kunti Kurrama and Pinikura people which will guide the co-management of PKKP country where mining takes place."
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FIXX | Hot Stocks17:59 EDT Homology Medicines gets FDA Orphan Drug designation for MPS II treatment - Homology Medicines' recombinant adeno-associated virus serotype HSC15 was granted orphan status from the FDA as a treatment of Mucopolysaccharidosis type II (MPS II), also known as Hunter syndrome , according to a post to the agency's website. Reference Link
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MSM | Hot Stocks17:45 EDT MSC Industrial director buy $14.5M in common stock - In a regulatory filing, MSC Industrial disclosed that its director Mitchell Jacobson bought 200K shares of common stock on July 13th in a total transaction size of $14.5M.
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GD | Hot Stocks17:42 EDT General Dynamics awarded $272.98M Navy contract - General Dynamics was awarded a $272.98M cost-plus-incentive-fee, cost-plus-fixed-fee, and cost-no-fee contract for the technical engineering services necessary for Strategic Weapons Systems Fire Control Subsystem production to support the Common Missile Compartment production requirement. This contract award contains option line items and benefits a foreign military sale to the United Kingdom. Work is expected to be completed June 30, 2028. FY22 shipbuilding and conversion funds in the amount of $22.95M and fiscal FY21 shipbuilding and conversion funds in the amount of $11,707,422 are being obligated on this award. Of this amount, no funds will expire at the end of the current fiscal year. This contract is being awarded to the contractor on a sole-source basis under 10 U.S. Code 2304 and was previously synopsized on the System for Award Management online portal. Strategic Systems Programs is the contracting activity.
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GD | Hot Stocks17:40 EDT General Dynamics awarded $908M Air Force contract - General Dynamics has been awarded a $908M ceiling, single award, indefinite-delivery/indefinite-quantity contract for the U.S. Air Forces in Europe and Air Forces Africa information technology and enterprise network services. Work is expected to be completed by July 13, 2027, with an optional three-year ordering period ending July 13, 2030, and the ability for performance at the order level through July 13, 2032. This award is the result of a competitive acquisition with six offers received. FY22 operations and maintenance funds in the amount of $35,000 will be obligated at the time of award. Air Force is the contracting activity.
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KRNT | Hot Stocks17:30 EDT Senvest Management reports 5.70% passive stake in Kornit Digital - Senvest Management disclosed a 5.7% stake in Kornit Digital, which represents over 2.83M shares. The filing does not allow for activism.
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VNO | Hot Stocks17:28 EDT Vornado appoints Lauren Brust Moss as chief sustainability officer - Vornado announced the appointment of Lauren Brust Moss as the company's senior VP and chief sustainability officer. Moss has more than 20 years of experience. Prior to joining Vornado, Moss was senior VP at Adai, the administrator of the Fitwel certification program, and previously worked in the sustainability practices at engineering firms NORESCO and Steven Winter Associates.
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MEOH | Hot Stocks17:21 EDT Methanex raises quarterly dividend 20% to 17.5c from 14.5c per share - The increased dividend will apply to the dividend payable on September 30 to holders of common shares of record on September 16.
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APA | Hot Stocks17:16 EDT APA Corp. chairman Lowe to retire, McKay named next chair - APA Corporation announced the election of H. Lamar McKay as the next chairman of the board. This follows the announcement by current chairman John E. Lowe of his decision to retire. Following a transition period, the change will be effective Sept. 1. "We are pleased to announce Lamar will be assuming the role of APA board chair following my retirement," said Mr. Lowe. "Lamar is a respected leader in the industry, with over 40 years of international natural gas and oil experience, and his appointment is a testament to his excellent working relationship with all of our board and senior management. On behalf of the entire board, we welcome Lamar as our next board chair."
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METC | Hot Stocks17:08 EDT Ramaco Resources announces $5M Q3 cash dividend - Ramaco Resources announced that its Board of Directors approved the payment of a $5M quarterly cash dividend in the third quarter of 2022. Specifically, the third quarter dividend in the amount of approximately 11c per common share will be paid on September 15 , to shareholders of record on September.
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ZY | Hot Stocks17:00 EDT Zymergen expands agreement with Octant to scale drug discovery platform - Zymergen has expanded its agreement with Octant to further scale their next-generation platform to develop breakthrough medicines. In May, Octant purchased five Reconfigurable Automation Carts, or RACs, to improve the throughput, efficiency, and reliability of operations for its existing platform. Octant has now more than doubled its initial investment through the purchase of an additional six RAC units, aimed at increasing the system's throughput, capabilities, and ability to run complex workflows.
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META | Hot Stocks16:41 EDT User reports indicate problems at Instagram, Downdetector says - Reference Link
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AGFY CURLF | Hot Stocks16:38 EDT Agrify COO Thomas Massie departs, Stuart Wilcox, to succeed - Agrify (AGFY) announced a number of leadership changes. Stuart Wilcox, who is the former COO of Curaleaf (CURLF) and who, prior to this announcement, served as an independent director on Agrify's board and chair of the nominating and corporate governance committee, has been named the company's COO. Wilcox stepped down from the Agrify board as a director concurrently with his appointment as COO. Chris Benyo, who joined Agrify in January and most recently served as senior VP and GM for Agrify's extraction division, has been promoted to the newly created role of chief revenue officer in which he will oversee all of the company's revenue streams and growth efforts. Thomas Massie, the company's former president and COO, has departed Agrify and resigned from the Agrify board of directors in order to pursue other business opportunities.
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BTU | Hot Stocks16:38 EDT Peabody Energy drops 5% to $19.63 after Q2 revenue guidance trails estimates
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ROST | Hot Stocks16:35 EDT Ross Stores extends employment contract of CMO Morrow through March 2026 - According to a regulatory filing, on July 11, 2022, Ross Stores and Brian Morrow, the company's President and Chief Merchandising Officer, entered into a new Executive Employment Agreement effective July 15, 2022, which extends Morrow's employment with the company through March 31, 2026. The Agreement contemplates that Mr. Morrow will continue to serve in his current position as President and CMO through March 31, 2024, and will then transition to the position of Consultant and cease to serve as President and CMO for the remainder of his employment term. In both roles, he will continue to report to the company's Chief Executive Officer.
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VIAO | Hot Stocks16:35 EDT VIA Optronics announces series of cost containment, pricing initiatives - VIA Optronics announced a series of cost containment and pricing initiatives designed to combat inflationary pressures and drive margin improvement in the second half of 2022 and beyond. Further implementation of broad price increases to account for inflationary pressures related to labor, energy, transportation, and materials, starting in July. Consolidation of suppliers to optimize costs and achieve efficiencies of scale. Initiation of improved cost structure due to full operating capacity at Nuremberg, Germany facility. Jurgen Eichner, CEO and founder of VIA optronics, commented, "We are taking enterprise-wide actions to mitigate the impact of higher costs related to the inflationary environment and global supply chain challenges. These actions include both internal initiatives such as improving production efficiencies and streamlining resources, as well as measures related to customer pricing and supplier agreements. We are targeting breakeven net profit on a run-rate basis as we exit 2022. Overall, we believe these initiatives will help us restore our historical margin profile and position the Company for long-term sustainable profitability."
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CDXS | Hot Stocks16:35 EDT Codexis trading resumes
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PNAC BWAQ | Hot Stocks16:32 EDT Prime Number Acquisition I appoints Weixiong Cheong as COO - Prime Number Acquisition I (PNAC) announced the appointment of COO Weixiong Cheong, who brings more than 15 years in private and public market investment and management experience. Weixiong Cheong has served as the chief operating officer for Blue World Acquisition Corporation (BWAQ), a special purpose acquisition company since January.
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R | Hot Stocks16:30 EDT Ryder raises quarterly dividend to 62c from 58c per share - The dividend is payable on September 16, 2022 to shareholders of record on August 22, 2022.
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FAT | Hot Stocks16:24 EDT Fat Brands raises quarterly dividend to 14c per share from 13c - FAT Brands announced that its Board of Directors has declared the company's fiscal 2022 third quarter cash dividend of 14c per share on each outstanding share of Class A common stock and Class B common stock, a 1c increase from prior quarter. The dividend is payable on September 1, 2022 to holders of record of Class A common stock and Class B common stock as of the close of business on August 16, 2022.
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MRCY | Hot Stocks16:19 EDT Mercury Systems starts flight testing electronic warfare combat training pod - Mercury Systems announced that its new mPOD, a rapidly reprogrammable electronic attack EA training system designed to train pilots using realistic, near-peer jamming capabilities, is currently undergoing final flight testing. "Alternative electronic attack training solutions are difficult to obtain and update," said Mark Bruington, vice president, Mercury Mission Systems. "Our innovative mPOD is a commercial solution that can be programmed quickly and will help the U.S. and our allies' military pilots develop tactics to maintain a strategic advantage over adversaries. It will also increase pilot and aircraft survivability and save millions of dollars in training costs through integrated threat presentations."
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VICI | Hot Stocks16:16 EDT VICI Properties expands Great Wolf Resorts partnership with $59M loan investment - VICI Properties announced that the company has agreed to provide a mezzanine loan investment for up to $59M to Great Wolf Resorts related to the development of Great Wolf Lodge South Florida, a more than $250M family resort project in Collier County, FL. The 500-room indoor water park resort was officially announced today during a groundbreaking event and is expected start welcoming guests in the summer of 2024. The mezzanine loan has an initial term of 4 years with one 12-month extension option subject to certain conditions. The investment is expected to be funded with cash on hand in accordance with a construction draw schedule. This transaction represents VICI Properties' second mezzanine loan investment with Great Wolf as part of the Company's strategic arrangement to provide up to $300 million of mezzanine financing to support the funding of the development of Great Wolf's domestic and international indoor water park resort pipeline.
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RCM | Hot Stocks16:14 EDT R1 RCM announces pact with Sutter Health for revenue cycle management - R1 RCM announced the execution of the 10-year agreement to be the exclusive provider of enterprise revenue cycle management services for Sutter Health. As part of this partnership, R1's technology will integrate with Sutter's existing infrastructure to further elevate the consumer experience by making it even easier for patients to access and engage in their care. Moreover, R1's technology will help Sutter implement additional efficiencies as part of the organization's ongoing efforts to reduce operational costs and provide patients with affordable, high-quality care. The parties believe that the partnership will help improve Sutter's overall financial performance with an estimated $400M in cost savings over the next 10 years, helping Sutter achieve more sustainable labor costs and address rising inflation. As part of the agreement, approximately 1,150 Sutter revenue cycle employees, all in non-clinical roles, will be offered comparable positions, pay and benefits with R1. The jobs in California are expected to remain in the state and, in many cases, employees will have additional opportunities to advance their careers given R1's focus on revenue cycle management.
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TXG | Hot Stocks16:13 EDT 10x Genomics drops 17% to $36.00 after Q2 revenue guidance misses estimates
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NEXI | Hot Stocks16:13 EDT Neximmune receives IND clearance from FDA for NEXI-003 - NexImmune has received IND clearance for the company's first cellular therapy product candidate addressing solid tumors. NEXI-003, an autologous antigen-specific T cell product, is being developed for patients with relapsed or refractory human papillomavirus-related cancers.
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CDXS PFE | Hot Stocks16:12 EDT Codexis enters agreement with Pfizer to supply enzyme used to make Paxlovid - Codexis (CDXS) announced that the company has entered into an agreement with Pfizer (PFE) for the supply of a proprietary enzyme used to manufacture a critical intermediate for nirmatrelvir, an active pharmaceutical ingredient, or API, in Paxlovid, Pfizer's antiviral therapeutic, which is currently authorized for emergency use by the FDA for the treatment of mild-to-moderate COVID-19 in people at high risk of progression to severe illness and authorized or approved by other regulatory authorities across the globe.
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AMZN | Hot Stocks16:11 EDT Amazon to conduct racial equity audit in U.S. - Candi Castleberry, Vice President of Global Diversity, Equity, & Inclusion at Amazon, stated in a blog post: "Over the past several months, I've worked to get a better understanding of what diversity, equity, and inclusion (DEI) means to Amazonians and what work would be most impactful to our teams... We're making good strides in DEI, but we have much more to do. Today, I'd like to update you on our vision for DEI at Amazon, our 2022 priorities, and progress made against some of those priorities at the halfway point in the year... As we take our next steps in the Amazon DEI journey, we are making progress on several priorities for 2022. These priorities include S-team goals, but also extend beyond them, as this work will be carried out at many levels, businesses, and teams across the company... As part of our commitment to create a safer, more productive, higher-performing, more diverse, and more just work environment, we will conduct a racial equity audit to evaluate the impacts of our policies, programs, and practices on hourly Operations employees in the U.S.... We believe that by creating inclusive experiences everywhere, we can make Amazon more inclusive than the world outside. This will require all of us to do our part, and our hope is that you will join us on the Amazon DEI journey." Reference Link
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CLOV | Hot Stocks16:11 EDT Clover Health announces planned medicare edvantage expansion for 2023 - Clover Health Investments announced its intent to offer Medicare Advantage plans in 13 new counties across Georgia, South Carolina, and Tennessee Subject to approval from the Centers for Medicare and Medicaid Services, individuals eligible for Medicare in these new counties will be able to sign up for Clover's MA plans during the MA Annual Enrollment Period which runs from October 15 to December 7, with coverage starting on January 1. "We are aiming to generate industry-leading growth during this year's AEP, as we have over the past several years, and we're focusing our efforts on our existing footprint where we have a proven track record," said Andrew Toy, President of Clover. "Clover Assistant is designed to lower costs and improve outcomes, and this year's bids demonstrate our continued focus on passing savings back to our members in the form of great benefits at affordable prices."In Georgia, Clover is aiming to replicate a successful growth strategy honed in New Jersey. In 2022, Clover nearly tripled its membership in Georgia by significantly increasing the breadth and depth of its provider network throughout the state with the addition of dozens of hospitals, health systems and key provider partners across the region, aligning approximately 5,000 new primary care physicians and specialists with Clover's MA network. In 2023, subject to CMS approval, Clover plans will be available to eligible individuals in 151 of the 159 counties in Georgia, which together contain a market opportunity of nearly 650,000 Medicare eligibles.
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OMGA | Hot Stocks16:11 EDT Omega Therapeutics' IND Application for OTX-2002 in carcinoma cleared by FDA - Omega Therapeutics has received clearance of its Investigational New Drug - IND - application from the FDA to initiate a Phase 1/2, first-in-human, clinical study of OTX-2002 for the treatment of hepatocellular carcinoma. OTX-2002, an Omega Epigenomic Controller, is designed to downregulate c-Myc expression pre-transcriptionally through epigenetic modulation while potentially overcoming MYC autoregulation.
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AUPH | Hot Stocks16:11 EDT Aurinia Pharmaceuticals names Scott Habig chief commercial officer - Aurinia Pharmaceuticals announced the appointment of three seasoned leaders to the Aurinia executive team. Volker Knappertz, MD, will join Aurinia as Executive Vice President, Research and Development to lead the consolidated Research and Development function. Additionally, Scott Habig has been named Aurinia's new Chief Commercial Officer and will lead efforts to ensure further commercial success for LUPKYINIS, Aurinia's first FDA approved product, as well as future products. DeDe Sheel has been hired as Vice President, Investor Relations, where she will manage the company's relationships with investors and analysts, and assist them in understanding the company's business model, long-term strategy, governance, and financial performance. Max Colao, who led the formation of Aurinia's commercial organization and the launch of LUPKYNIS in 2021, is leaving the company to tend to personal matters. Neil Solomons, MD, Chief Medical Officer and Robert B. Huizinga, PhD, RN, CNeph, EVP, Research will remain in their current roles and continue as members of the executive committee.
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TXG | Hot Stocks16:10 EDT 10x Genomics names Jim Wilbur as Chief Commercial Officer - Following a comprehensive search process, 10x Genomics announced the hiring of Jim Wilbur, Ph.D., as Chief Commercial Officer, effective July 27. In this role, Wilbur will be responsible for driving commercial strategy and execution and leading the company's sales, support and marketing functions. Wilbur joins 10x Genomics from Meso Scale Discovery, a provider of highly sensitive multiplex immunoassays. Widely recognized for its innovative and robust technology, MSD develops, manufactures and markets instruments and assays for research use in life sciences and biodefense.
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RRGB | Hot Stocks16:08 EDT Red Robin names G.J. Hart as CEO - Red Robin Gourmet Burgers "announced that G.J. Hart will become the Company's new President and CEO, effective September 6, 2022. A member of the Red Robin Board since August 2019, Hart will continue to serve as a member of the Board in addition to his roles as CEO and President. Mr. Hart will succeed current President and Chief Executive Officer Paul Murphy, who recently informed the Red Robin Board of Directors that he intends to retire at the end of 2022 when his employment agreement expires. Mr. Murphy will remain as a special advisor to the Company until March 31, 2023, to ensure a smooth transition of leadership."
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GOOG... | Hot Stocks16:08 EDT Alphabet names former Goldman Sachs CFO Chavez to board of directors - According to a regulatory filing, on July 11, 2022, the Board of Directors of Alphabet (GOOGL) appointed R. Martin Chavez to serve as a member of the Board and the Audit and Compliance Committee of the Board, effective immediately. Upon the effective date of Chavez's appointment to the Audit and Compliance Committee, Robin L. Washington resigned from the Audit and Compliance Committee. Washington will continue to serve as chair of the Leadership Development, Inclusion and Compensation Committee of the Board. There are no arrangements or understandings between Chavez and any other persons pursuant to which Chavez was selected as a director of the company. There are no relationships or related transactions between Chavez and the company that would be required to be reported. Chavez has been a partner and vice chairman of Sixth Street, a global asset manager, since May 2021. From November 1993 to December 1997, and from January 2005 to December 2019, he served in a number of executive positions at Goldman Sachs (GS), including Chief Information Officer, Chief Financial Officer, and global co-head of the firm's Securities Division, and was a partner and a member of Goldman Sachs' management committee.
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IONM | Hot Stocks16:07 EDT Assure Holdings announce workforce' trimming' amid streamlining of operations - Assure Holdings announced its plan to continue streamlining operations that prioritizes reaching positive operating cash flow. The plan to becoming operating cash flow positive utilizes four key levers: Previous and current cash cutting measures will realize $4M of savings on an annualized basis. This was achieved through a trimming of the workforce, salary reductions for the management team, limiting the use of outside consultants and reducing operating expenses. The Company rationalized its operational footprint by withdrawing from certain low performing markets thereby enabling Assure to focus on its fast growing profitable core. Assure is continuing to invest in its managed care and revenue cycle management functions and tools as the Company accelerates collections and signs new in-network agreements. The Company is prioritizing growth resources in markets with substantial existing operational density, servicing facility-wide outsourcing agreements and entering new markets with very strong profitability profiles. John A. Farlinger, Assure's executive chairman and CEO, said, "We are taking a more defensive position in 2022, prioritizing becoming operating cash flow positive even if it means slightly slower growth. Our plan reduces our structural costs while funding long-term improvements that benefit the Company's profitability. We expect that Assure's business will be leaner and more profitable in the second half of 2022 even as we continue to progress against our objective of performing 25,000 total managed cases for fiscal year 2022, a record number representing an increase of more than 40% compared with 2021 managed case volume." Farlinger concluded, "Our top priority is reducing our cost structure and accelerating the process of becoming operating cash flow positive. As part of that effort, Assure has maintained its strong cash collections pace since reporting record results in the first quarter of 2022." Annualized January 2022 run-rate expenses will be reduced by an excess of $4M.
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NLS | Hot Stocks16:07 EDT Nautilus announces departure of Chief Digital Officer Garry Wiseman - The company states: "As of June 30th, 2022, members of JRNY, Nautilus' personalized connected fitness platform, exceeded 360,000, representing approximately 13% sequential growth in the seasonally slower quarter ending June 30th, 2022. Nautilus remains on track to surpass 500,000 JRNY total members at fiscal year-end 2023. Nautilus is continuing to enhance the JRNY(R) platform through many unique features including the expansion of differentiated visual connected-fitness experiences for its members. JRNY members now have access to over 1,400 on-demand instructor led videos and can enjoy over 220 locations with the immersive Explore the World feature. Additionally, the company has made great strides over the last two years expanding the number of products featuring JRNY connectivity. In FY 2022, approximately 80% of total units sold were JRNY compatible, compared to only 22% in FY 2020. In November 2021, Bowflex SelectTech workouts launched on the JRNY platform enabling the best-selling SelectTech 552 and 1090 dumbbells connectivity for JRNY users. The company also announced that Chief Digital Officer Garry Wiseman will leave Nautilus to accept a role at another organization, effective July 29. Chris Quatrochi, SVP of Innovation and Product Development, whose responsibilities already included JRNY engineering, will assume Mr. Wiseman's JRNY product management role. He will continue to report directly to CEO Jim Barr."
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SPCE | Hot Stocks16:06 EDT Virgin Galactic announces new spaceship manufacturing site in Mesa, AZ - Virgin Galactic Holdings announced it has signed a long-term lease for a new final assembly manufacturing facility for its next-generation Delta class spaceships. Located in Mesa, Greater Phoenix area, adjacent to the Phoenix-Mesa Gateway Airport, the facility will be capable of producing up to six spaceships per year and will bring hundreds of highly skilled aerospace engineering and manufacturing jobs to the area. The Delta class spaceship is Virgin Galactic's production vehicle that is designed to fly weekly, supporting the Company's target of 400 flights per year from Spaceport America. Based on current schedules, the first of these ships is expected to commence revenue-generating payload flights in late 2025, progressing to private astronaut flights in 2026.
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PINS | Hot Stocks16:05 EDT Pinterest up 21% in after-hours following report of Elliott stake - Shares of Pinterest are up $3.73, or 21%, to $21.69 in after-hours trading following The Wall Street Journal's report on the activist investor having built a stake in the social media company.
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DASH ABNB | Hot Stocks16:05 EDT DoorDash appoints Ellie Mertz to board of directors - DoorDash (DASH) announced that Ellie Mertz, Vice President of Finance of Airbnb (ABNB), has been elected to the company's board of directors. Throughout her career, Mertz has helped scale iconic consumer brands Airbnb and Netflix through significant business and industry transitions. She brings a strong track record of leading strategic finance and corporate planning at hyper-growth technology companies with global impact.
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ONCT ABBV | Hot Stocks16:04 EDT Oncternal Therapeutics enters conical trial collaboration with Pharmacyclics - Oncternal Therapeutics (ONCT) announced it entered into a clinical trial collaboration with Pharmacyclics, an AbbVie (ABBV) company, that includes supply of ibrutinib for its Phase 3 clinical trial. Under the terms of the collaboration, the supply of ibrutinib will support the company's global registrational Phase 3 clinical trial of zilovertamab for the treatment of patients with relapsed or refractory mantle cell lymphoma, or MCL, ZILO-301. The agreement also includes the supply of ibrutinib for Study ZILO-302, an open-label companion study of zilovertamab plus ibrutinib for patients who have progressive disease during the initial four months of ibrutinib monotherapy from Study ZILO-301.
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CDXS | Hot Stocks16:00 EDT Codexis trading halted, news pending
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BRPM | Hot Stocks15:38 EDT B Riley Principal 150 Merger Corp trading resumes
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AFRM | Hot Stocks15:33 EDT Affirm CEO says he feels 'very good about preparedness for recession' - Affirm CEO Max Levchin continues being interviewed on CNBC.
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BRPM | Hot Stocks15:33 EDT B Riley Principal 150 Merger Corp trading halted, volatility trading pause
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AFRM | Hot Stocks15:32 EDT Affirm CEO says business 'doing really well' - Asked if he has seen any softness in demand for Buy Now, Pay Later products, Affirm CEO Max Levchin said demand is "actually increasing among consumers" for BNPL in the current macro environment. Levchin is being interviewed on CNBC.
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AFRM | Hot Stocks15:30 EDT Affirm, SeatGeek announces payment partnership - SeatGeek announced a new partnership with Affirm, the payment network that empowers consumers and helps merchants drive growth. Through this partnership with Affirm, SeatGeek will provide fans with more ways to pay. "Attending live events is at the top of many of our lists for 2022 and beyond, but so is sticking to a budget. Luckily, Affirm helps with both," said Geoff Kott, Affirm's Chief Revenue Officer. "By partnering with SeatGeek, we are able to make it possible for more people to enjoy the experiences they want by delivering flexible and transparent payment options at checkout."
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HASI | Hot Stocks15:17 EDT Hannon Armstrong CEO says plans to add disclosures to clarify cash questions - Hannon Armstrong CEO Jeff Eckel is being interviewed on CNBC to respond to short seller report issued yesterday by Carson Block's Muddy Waters.
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HASI | Hot Stocks15:15 EDT Hannon Armstrong CEO says investors should not be worried about dividend
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HASI | Hot Stocks15:15 EDT Hannon Armstrong CEO says 'absolutely stand by financial reporting, 100%' - Hannon Armstrong CEO Jeff Eckel says "already answered questions" posed by short seller in response issued yesterday. Eckel, in an interview on CNBC, says the company "absolutely stands by every dollar of revenue we have recognized."
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PFE | Hot Stocks14:37 EDT FDA approves added indication for Pfizer's crizotinib - Reference Link
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VOXX | Hot Stocks14:21 EDT CEO of Voxx Patrick Lavelle buys $257K in company shares - CEO of Voxx Patrick Lavelle disclosed in a filing that he he had purchased 40,000 shares of company stock for $6.42 per share between July 12 and 13 for a total transaction of $256,892.
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BHC | Hot Stocks14:21 EDT Bausch made false or misleading claims about Duobrii, FDA says - The FDA told Bausch Health in a letter that a video and webpage make false or misleading claims and/or representations regarding the risks associated with and the efficacy of Duobrii. "These violations are concerning from a public health perspective because the video fails to include information regarding serious risks associated with Duobrii, a topical product that bears warnings and precautions related to serious systemic risks and serious skin reactions," the agency said. Reference Link
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BAC | Hot Stocks14:04 EDT OCC assesses $125M civil money penalty against Bank of America - The Office of the Comptroller of the Currency, or OCC, announced it assessed a $125M civil money penalty against Bank of America, N.A., for violations of law and unsafe or unsound practices relating to the bank's administration of a prepaid card program to distribute unemployment insurance and other public benefit payments. The OCC also ordered the bank to provide remediation to consumers harmed by the bank's practices and violations of law. Reference Link
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HAS NYT | Hot Stocks13:32 EDT Hasbro, New York Times to launch new Wordle board game - Hasbro (HAS) and New York Times Games (NYT) are working together to bring Wordle to life in a new board game. Inspired by the digital version from New York Times Games, Wordle: The Party Game is a brand-new product that delivers Wordle gameplay, but now "in an all new way that is perfect for game night with friends and family." Wordle: The Party Game will be available in North America for purchase in October. "Since Wordle burst onto the scene, it's undoubtedly been a staple in social and pop culture vocabulary," said Adam Biehl, SVP & General Manager, Hasbro Gaming. "We're beyond thrilled to work with New York Times Games to bring our gaming worlds together and extend Wordle in new ways."
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NVAX... | Hot Stocks13:30 EDT EMA to update Nuvaxovid, Spikevax, Vaxzevria product information - The European Medicines Agency, or EMA, released a COVID-19 vaccines safety update dated July 14, in which it states in part: "The safety of authorised COVID-19 vaccines is continuously monitored, and updated information is regularly provided to the public... This safety update follows the update of 17 June 2022 and reflects the main assessment outcomes of the PRAC meeting held 04 to 07 July 2022. EMA confirms that the benefits of all currently authorised COVID-19 vaccines continue to outweigh their side effects, given the risk of COVID-19 illness and related complications, including hospitalisation and death... The product information of [Novavax's (NVAX)] Nuvaxovid will be updated with severe allergic reaction and unusual or decreased feeling in the skin as new side effects. The product information of [Moderna's (MRNA)] Spikevax will be updated with extensive swelling of the vaccinated limb as a new side effect. The product information of [AstraZeneca's (AZN)] Vaxzevria will be updated with tinnitus and unusual or decreased feeling in the skin as new side effects." In afternoon trading, Novavax shares are down $18.25, or 26%, to $51.70. Reference Link
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MSFT... | Hot Stocks12:58 EDT Capcom's 'Resident Evil 2' remake sells 10M units - Capcom (CCOEY) announced that its remake of "Resident Evil 2," which released on early 2019 for PC, PlayStation 4 (SONY), and Xbox One (MSFT), has sold over 10M units. Reference Link
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$ETH... | Hot Stocks12:53 EDT Celsius Network initiates voluntary Chapter 11 bankruptcy proceedings - Celsius Network announced last night that it initiated voluntary Chapter 11 proceedings to "provide the company with the opportunity to stabilize its business and consummate a comprehensive restructuring transaction that maximizes value for all stakeholders." To implement the restructuring, the company and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. To ensure a smooth transition into Chapter 11, Celsius has filed with the Court a series of customary motions to allow the company to continue to operate in the normal course. These "first day" motions include requests to pay employees and continue their benefits without disruption, for which the company expects to receive Court approval. Celsius is not requesting authority to allow customer withdrawals at this time. Customer claims will be addressed through the Chapter 11 process. "Celsius has $167 million in cash on hand, which will provide ample liquidity to support certain operations during the restructuring process," the company stated. Members of the Special Committee of the Celsius board of directors said, "Today's filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, swaps, and transfers on its platform to stabilize its business and protect its customers. Without a pause, the acceleration of withdrawals would have allowed certain customers-those who were first to act-to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery."
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RHHBY | Hot Stocks12:41 EDT Roche says Perjeta-based regimen showed benefit in eight-year data - Roche, the Breast International Group, Institut Jules Bordet Clinical Trials Support Unit and Frontier Science Foundation announced updated data from the Phase III APHINITY study in HER2-positive early breast cancer. Results at 8.4 years median follow-up showed the continued benefit of the combination of Perjeta, Herceptin and chemotherapy versus Herceptin, chemotherapy and placebo, when given as post-surgery intravenous treatment for people with lymph node-positive, HER2-positive early breast cancer, who are at high risk of recurrence, Roche said in a statement. For patients with lymph node-positive disease, results showed a 28% reduction in the risk of recurrence or death, corresponding to an absolute benefit at eight years of 4.9%. The safety profile was consistent with previous studies, Roche added. "The eight-year APHINITY results show the great progress made in treating this aggressive form of early breast cancer," said Levi Garraway, Roche's Chief Medical Officer and Head of Global Product Development.
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NYMX | Hot Stocks12:20 EDT Nymox receives deficiency letter from NASDAQ - Nymox Pharmaceutical Corporation reports that on July 7, 2022 the Company received a deficiency letter from NASDAQ stating that the Company is no longer in compliance with Nasdaq Listing Rule 5550(a)(2). The Nasdaq letter states that the Company will be afforded 180 calendar days to regain compliance with the minimum bid price requirement. In order to regain compliance, the Company must have a closing bid price of $1.00 or more for a minimum of 10 consecutive business days. If at any time during this 180-day period the Company's closing bid price meets or exceeds $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance and the matter will be closed. If the Company has not regained compliance by the expiration of the initial 180 calendar days, Nasdaq will then provide written notification to the Company that its ordinary shares are subject to delisting. At that time, the Company may appeal Nasdaq's delisting determination to a Nasdaq Listing Qualifications Panel.
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ENVB | Hot Stocks12:17 EDT Enveric Biosciences announces 1-for-50 reverse stock split - Enveric Biosciences announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 50 pre-split shares. The reverse stock split will become effective at 4:05 p.m., New York time, on Thursday, July 14, 2022. Enveric's common stock will continue to be traded on the Nasdaq Capital Market under the symbol "ENVB" and will begin trading on a split-adjusted basis when the market opens on Friday, July 15, 2022. At a special meeting of stockholders held on July 14, 2022, Enveric's stockholders granted the Company's Board of Directors the discretion to effect a reverse stock split of Enveric's common stock through an amendment to its Amended and Restated Certificate of Incorporation, as amended, at a ratio of not less than 1-for-10 and not more than 1-for-100, such ratio to be determined by the Company's Board of Directors.
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NTDOY | Hot Stocks12:14 EDT Nintendo to acquire Dynamo Pictures, rename it Nintendo Pictures - Nintendo announced that it has entered into an agreement to acquire 100% of the outstanding shares, excluding treasury shares, of Dynamo Pictures and to make it a wholly-owned subsidiary. The acquisition is expected to close on October 3, 2022, pending satisfaction of all relevant terms and customary closing conditions. Upon closing, Dynamo Pictures is expected to have its name changed to "Nintendo Pictures" to focus on development of visual content utilizing Nintendo IP. Nintendo said that the acquisition will have "only a minor effect" on its results for this fiscal year. The Fly notes that Dynamo has provided CG work and motion capture for other video games and anime, including Nintendo's own "Pikmin Short Movies."
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AMZN | Hot Stocks12:08 EDT Amazon offers concessions to EU over marketplace seller data, Buy Box and Prime - The European Commission invites comments on commitments offered by Amazon to address competition concerns over its use of non-public marketplace seller data and over a possible bias in granting sellers access to its Buy Box and its Prime programme. To address the Commission's competition concerns in relation to both investigations, Amazon has offered the following commitments: With respect to the marketplace seller data, Amazon commits to refrain from using non-public data relating to, or derived from, the activities of independent sellers on its marketplace, for its retail business that competes with those sellers. This would apply to both Amazon's automated tools and employees that could cross-use the data from Amazon Marketplace, for the purposes of retail decisions. The relevant data would cover both individual and aggregate data, such as sales terms, revenues, shipments, inventory related information, consumer visit data or seller performance on the platform. Amazon commits not to use such data for the purposes of selling branded goods as well as its private label products. In relation to the Buy Box Amazon commits: to apply equal treatment to all sellers when ranking their offers for the purposes of the selection of the winner of the Buy Box; and in addition, to display a second competing offer to the Buy Box winner if there is a second offer that is sufficiently differentiated from the first one on price and/or delivery. Both offers will display the same descriptive information and provide for the same purchasing experience. This will enhance consumer choice. Lastly, regarding Prime Amazon commits: to set non-discriminatory conditions and criteria for the qualification of marketplace sellers and offers to Prime; to allow Prime sellers to freely choose any carrier for their logistics and delivery services and negotiate terms directly with the carrier of their choice; not to use any information obtained through Prime about the terms and performance of third-party carriers, for its own logistics services. This is to ensure that carriers' data is not flowing directly to Amazon's competing logistics services. Reference Link
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NRGV | Hot Stocks12:00 EDT Energy Vault falls -11.5% - Energy Vault is down -11.5%, or -85c to $6.56.
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BPT | Hot Stocks12:00 EDT BP Prudhoe Bay falls -12.7% - BP Prudhoe Bay is down -12.7%, or -$2.37 to $16.36.
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EGY | Hot Stocks12:00 EDT Vaalco Energy falls -16.5% - Vaalco Energy is down -16.5%, or -$1.02 to $5.21.
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DUST | Hot Stocks12:00 EDT Direxion Daily Gold Miners Bear 3X ETF rises 8.7% - Direxion Daily Gold Miners Bear 3X ETF is up 8.7%, or $1.89 to $23.51.
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JDST | Hot Stocks12:00 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares rises 8.9% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is up 8.9%, or $1.27 to $15.58.
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RBA | Hot Stocks12:00 EDT Ritchie Bros. rises 9.5% - Ritchie Bros. is up 9.5%, or $5.75 to $66.09.
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NXST | Hot Stocks11:47 EDT Nexstar Digital enters exclusive partnership with Teads - Nexstar Digital and Teads announced a new exclusive partnership to deliver Teads' flagship ad format inRead advertising technology to Nexstar Digital's 125 websites and 239 mobile apps.
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DTEGY... | Hot Stocks11:38 EDT Deutsche Telekom to sell 51% of GD Towers to Digital Bridge and Brookfield - Deutsche Telekom (DTEGY) announced the sale of 51% of GD Towers comprising its tower assets in Germany and Austria, to Digital Bridge (DBRG) and Brookfield (BAM) at EUR17.5B enterprise value on a cash and debt free basis. The valuation represents an attractive EV/ pro forma adjusted EBITDA AL 2021A multiple of around 27. The transaction marks the successful conclusion of Deutsche Telekom's strategic review of its towers business announced at the May 2021 Capital Markets Day. "Deutsche Telekom once again delivers on its strategic agenda. We crystalize the value of our tower assets, thereby creating value for our shareholders," said Tim Hottges, CEO of Deutsche Telekom. "At the same time the deal allows us to continue improving Deutsche Telekom's undisputed network leadership in Germany and benefit from further value upside of the towers business through our retained 49 percent stake." The transaction will reduce Deutsche Telekom's financial leverage by EUR10.7B and net debt including leases by EUR6.5B. The incremental headroom will mainly be used for deleveraging at the Deutsche Telekom Group level and to accelerate the path towards its targeted 50.1% share capital interest in T-Mobile US. The transaction is subject to usual regulatory approvals. Closing is expected towards end of 2022.
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MRNA | Hot Stocks11:34 EDT Moderna confirms Health Canada authorizes COVID-19 vaccine in young children - Moderna announced that Health Canada has approved the use of Moderna's mRNA COVID-19 vaccine, "SPIKEVAX", in a two-dose series of 25 B5g per dose for active immunization to prevent COVID-19 caused by SARS-CoV-2 in children aged 6 months to 5 years. "Since the pandemic began, we have worked with a deep sense of responsibility to deliver on the promise of mRNA science for Canadians. This decision from Health Canada confirms the effectiveness and safety of Moderna's vaccine in this final and important age group. With this announcement, parents and caregivers now have an option to protect these very young children, a group at high risk of infection and where additional health prevention measures like wearing masks may not always be feasible," said Patricia Gauthier, President and General Manager, Moderna Canada.
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ATC | Hot Stocks11:22 EDT Atotech starts production at new Queretaro, Mexico site - Atotech celebrated the inauguration of its new production site in Queretaro, Mexico. The site is located at Parque Industrial Aeropuerto Colon and has a capacity to produce 33 tons/day. In Queretaro, Atotech produces products for general metal finishing, which are used in various industries, including automotive, construction, heavy machinery, and white goods. The company produced its first batch of chemistry at the new site in May.
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DISH | Hot Stocks11:03 EDT SLING TV, The Basketball Tournament enter national partnership - SLING TV announced its official sponsorship of The Basketball Tournament, a two-week, $1M winner-take-all event streaming on ESPN beginning July 16, 2022. Throughout the 60+ game, 64-team tournament, SLING will be prominently featured as the official sponsor of TBT.
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CIA | Hot Stocks10:59 EDT Citizens National expands into Texas with Critical Illness Coverage product - Citizens National Life Insurance Company announces its expansion into Texas with its Critical Illness Coverage product. After launching in Florida, Citizens National set its sights on expanding to allow more policyholders to have access to this important coverage product.
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MRNA | Hot Stocks10:31 EDT Health Canada approves Moderna COVID vaccine for children up to 5 - Health Canada authorized the use of the Moderna Spikevax COVID-19 vaccine in children six months to five years of age. This is the first COVID-19 vaccine authorized in Canada for use in this age group. As a result of this authorization, approximately 1.7M children are now eligible for vaccination against COVID-19. Reference Link
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MS | Hot Stocks10:14 EDT Morgan Stanley continuing to take hard look at expenses
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HOUS | Hot Stocks10:07 EDT Anywhere Real Estate announces rebranded business units - Anywhere Real Estate announced new naming conventions for its business units as part of its recent corporate rebrand. Realogy Franchise Group will be rebranded as Anywhere Brands. Realogy Brokerage Group will be rebranded as Anywhere Advisors. Finally, Realogy Title Group will be rebranded as Anywhere Integrated Services.
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SNX | Hot Stocks10:05 EDT MarketsandMarkets enters partnership with TD Synnex - MarketsandMarketsannounced a new partnership with TD SYNNEX USA. This strategic partnership will enable clients to get exclusive insights to identify and operationalize revenue opportunities arising from disruptions happening within all industries with the help of its Market Intelligence Cloud - Knowledge Store.
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APLS | Hot Stocks10:04 EDT Apellis announces five oral presentations highlighted at ASRS meeting - Apellis Pharmaceuticals announced that five oral presentations and two on-demand papers are being highlighted at the American Society of Retina Specialists, or ASRS, Annual Scientific Meeting taking place July 13 -16 in New York City. New data include an analysis from the Phase 3 DERBY and OAKS studies, which showed the mean rate of GA lesion growth at 18 months with both monthly and every-other-month intravitreal pegcetacoplan, an investigational, targeted C3 therapy for geographic atrophy secondary to age-related macular degeneration. The results were consistent with previously reported 18-month data, with all p-values below 0.05. Apellis previously announced the submission of a New Drug Application for pegcetacoplan for GA to the U.S. Food and Drug Administration in June 2022. The FDA decision on NDA filing acceptance is expected in August 2022. Apellis also plans to submit a marketing authorization application to the European Medicines Agency in the second half of 2022. "Our presence at ASRS reinforces our leadership in retina and the potential of pegcetacoplan to become the first treatment for GA. GA causes irreversible vision loss and has no approved treatments, so there is an urgent unmet need to slow the progression of this debilitating disease," said Federico Grossi, M.D., Ph.D., chief medical officer of Apellis.
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CVM | Hot Stocks10:03 EDT CEL-SCI announces Reddit AMA with CEO Geert Kersten - CEL-SCI Corporation announces that Geert Kersten, CEO, will be on Reddit AMA at 12:30 PM ET to discuss Multikine and recent publications at ASCO 2022.
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ILAG | Hot Stocks10:03 EDT Intelligent Living Application Group Inc trading resumes
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BPT | Hot Stocks10:00 EDT BP Prudhoe Bay falls -11.9% - BP Prudhoe Bay is down -11.9%, or -$2.23 to $16.50.
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JNUG | Hot Stocks10:00 EDT Direxion Daily Jr Gld Mnrs Bull 3X Shrs falls -13.7% - Direxion Daily Jr Gld Mnrs Bull 3X Shrs is down -13.7%, or -$4.34 to $27.32.
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EGY | Hot Stocks10:00 EDT Vaalco Energy falls -18.0% - Vaalco Energy is down -18.0%, or -$1.12 to $5.11.
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FAZ | Hot Stocks10:00 EDT Direxion Financial Bear 3x rises 8.9% - Direxion Financial Bear 3x is up 8.9%, or $2.61 to $31.94.
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SCO | Hot Stocks10:00 EDT Scor ADR rises 8.9% - Scor ADR is up 8.9%, or $2.33 to $28.55.
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DUST | Hot Stocks10:00 EDT Direxion Daily Gold Miners Bear 3X ETF rises 12.9% - Direxion Daily Gold Miners Bear 3X ETF is up 12.9%, or $2.78 to $24.40.
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AMZN | Hot Stocks09:59 EDT Amazon gave Ring videos to police without owners' consent - Massachusetts Senator Edward Markey released the latest findings from his probe into Amazon doorbell company Ring yesterday. The findings highlight the close relationship between Ring and law enforcement, including the proliferation of policing agencies on the Ring platform. In response to Senator Markey's June letter, Ring reported a more than five-fold increase in law enforcement partnerships on its platform since November 2019. Ring further revealed that Ring has provided law enforcement with user footage through a process that does not require user's consent, under a so-called "emergency circumstance exception", 11 times so far this year. "As my ongoing investigation into Amazon illustrates, it has become increasingly difficult for the public to move, assemble, and converse in public without being tracked and recorded," said Senator Markey. "We cannot accept this as inevitable in our country. Increasing law enforcement reliance on private surveillance creates a crisis of accountability, and I am particularly concerned that biometric surveillance could become central to the growing web of surveillance systems that Amazon and other powerful tech companies are responsible for. I will continue to exercise oversight of these harmful corporate practices. In the meantime, Congress must pass the Facial Recognition and Biometric Technology Moratorium Act to stop law enforcement from accessing sensitive information about our faces, voices, and bodies." Reference Link
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ILAG | Hot Stocks09:52 EDT Intelligent Living Application Group Inc trading halted, volatility trading pause
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MS | Hot Stocks09:52 EDT Morgan Stanley CEO doesn't see 'deep, dramatic' recession in the U.S.
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MS | Hot Stocks09:49 EDT Morgan Stanley CFO says investment banking pipeline remains "solid"
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MS | Hot Stocks09:48 EDT Morgan Stanley's 2H difficult to predict, says CFO
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MS | Hot Stocks09:48 EDT Morgan Stanley CFO sees $500M of extra NII in next two quarters
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AGQ | Hot Stocks09:47 EDT ProShares Ultra Silver falls -9.9% - ProShares Ultra Silver is down -9.9%, or -$2.17 to $19.69.
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JNUG | Hot Stocks09:47 EDT Direxion Daily Jr Gld Mnrs Bull 3X Shrs falls -10.0% - Direxion Daily Jr Gld Mnrs Bull 3X Shrs is down -10.0%, or -$3.18 to $28.48.
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EGY | Hot Stocks09:47 EDT Vaalco Energy falls -13.5% - Vaalco Energy is down -13.5%, or -84c to $5.39.
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FAZ | Hot Stocks09:47 EDT Direxion Financial Bear 3x rises 6.2% - Direxion Financial Bear 3x is up 6.2%, or $1.82 to $31.15.
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DUST | Hot Stocks09:47 EDT Direxion Daily Gold Miners Bear 3X ETF rises 8.8% - Direxion Daily Gold Miners Bear 3X ETF is up 8.8%, or $1.90 to $23.52.
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GRBK | Hot Stocks09:47 EDT Green Brick rises 9.4% - Green Brick is up 9.4%, or $2.03 to $23.74.
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MS | Hot Stocks09:40 EDT Morgan Stanley CEO: Legal costs of $200M reflects resolution of CFTC, SEC probes - CEO James Gorman says legal costs of $200M reflects the likely resolution of investigations by the SEC and CFTC regarding the use of unapproved personal devices. Comments taken from Q2 earnings conference call.
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PROK | Hot Stocks09:38 EDT Social Capital Suvretta Holdings Crp III trading resumes
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MS | Hot Stocks09:38 EDT Morgan Stanley increases quarterly dividend to 77.5c per share from 70c - Morgan Stanley said earlier that the Board of Directors declared a 77.5c quarterly dividend per share, an 11% increase from the current 70c per share dividend, payable on August 15, 2022 to common shareholders of record on July 29, 2022.
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FEIM | Hot Stocks09:35 EDT Frequency Electronics trading resumes
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AWEVF | Hot Stocks09:34 EDT Alphawave IP launches office in Ottawa, Ontario - Alphawave IP announced the planned launch of its new office in Ottawa, Ontario - expanding its North American presence in the country's key technology hub. The new office located in the Kanata North technology park is currently in the middle of the design phase with construction planned to be completed by the end of the year. Alphawave expects the office to hold over 100 employees across all departments and roles by the end of the year, more than double the existing 50+ employees in the Ottawa area. The new office will provide more than 18,000 square feet of working space as well as over 5,000 square feet of laboratory space for the controller, SerDes, and optical teams.
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PROK | Hot Stocks09:33 EDT Social Capital Suvretta Holdings Crp III trading halted, volatility trading pause
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EVGO GM | Hot Stocks09:33 EDT EVgo announces EVgo eXtend project to deploy 2,000 charging stalls - EVgo Inc. (EVGO) announced the first major EVgo eXtend project. The EVgo eXtend project will deploy 2,000 charging stalls at Pilot and Flying J locations across the country in collaboration with General Motors (GM) and Pilot Company. EVgo will install, operate, and maintain the network of 350 kW charging stalls for Pilot Company and GM at up to 500 Pilot and Flying J travel centers across more than 40 states.
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FRBK | Hot Stocks09:32 EDT Republic First names Harry Madonna interim chairman, terminates contracts - Republic First Bancorp announced that Harry Madonna has been appointed interim chairman of the board. The company also announced that it has terminated its agreements with Brian Communications and InterArch Design, and its affiliates, eliminating those related-party contracts. The board intends to run a thorough process to identity and engage service providers, which are fully independent of the company and its board, to perform these services going forward.
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FEIM | Hot Stocks09:30 EDT Frequency Electronics trading halted, volatility trading pause
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LEXX | Hot Stocks09:27 EDT Lexaria Bioscience to receive third patent in Japan for DehydraTECH - Lexaria Bioscience announced the Company has been notified of the allowance of its 26th worldwide patent with a new patent to be granted in Japan. This is Lexaria's third patent to be granted in Japan, entitled Lipophilic Active Agent Infused Compositions With Reduced Food Effect. This patent recognizes DehydraTECH's ability to deliver active pharmaceutical ingredients more efficiently regardless of the presence of foods within the gastrointestinal system - the so-called "food effect". Delivering drugs more consistently into the bloodstream regardless of the presence of food in the GI is an important achievement in the quest for more reliable drug dosing. This is the first patent issued from Lexaria's seventh patent family and refers to tetrahydrocannabinol. Lexaria has patents granted or patent applications progressing in countries around the world with aggregate populations of nearly 4 billion people and will report on further progress as information becomes available. In additional news, Lexaria has submitted its briefing book to the US Food and Drug Administration. The Company has no further requirements or deliverables related to the pre-Investigational New Drug meeting request announced on June 2, 2022. The FDA has provided a target date of July 30, 2022 for meeting or comments.
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ANF | Hot Stocks09:26 EDT abercrombie kids launches 2022 denim collection - abercrombie kids announces the launch of its 2022 denim collection, complete with brand new options for fit and sizing. The updated assortment, which is based on direct feedback from parents and kids, now includes short, regular and long lengths in all sizes and waistband adjusters in every single pair. Additionally, the denim collection has expanded its size range and the brand now offers sizes 5/6 to 17/18.
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LTUM | Hot Stocks09:25 EDT Lithium Corp. provides update on ongoing exploration work - Lithium Corporation updates shareholders with respect to ongoing exploration work on the company's properties. The company said, "Our contracted geophysical crew finished Phase II of the magnetotelluric survey over the northern portions of the prospect at Fish Lake Valley over the weekend. The Company eagerly anticipates receipt of the results once interpretation is complete. Generative exploration is ongoing - aided by a hand-held Laser Induced Breakdown Spectrometer. This instrument produces immediate analytical results for lithium, which gives the Company considerable flexibility with respect to courses of action subsequent to examining a number of prospective areas for both lithium clays and brines in the past several months. Work recently recommenced on the Yeehaw Titanium/Rare Earth project in Southern British Columbia, with hand-trenching in the area of the Horseshoe Bend Ti/REE prospect uncovering scattered random cobbles of mineralized lamprophyric rock. A field crew is scheduled to be on the property early next week. The crew will be working on the western portions of the recently enlarged claim block in an endeavour to determine if, what is now believed to be, a swarm of Ti/REE lamprophyric dykes strikes into the western portions."
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JPM | Hot Stocks09:24 EDT JPMorgan expects high single digit loan growth in FY22 - Seeing "robust" card loan growth. Says consumer deposits "remain strong." Says plans to scrutinize low-return lending. Says company has "huge underlying earnings power." Says not seeing any cracks in the credit system, prime "holding up quite well." Says has "never seen business credit better in our lifetimes." Says current "uncertainty" won't change the way the bank is run. Says consumer in "great shape," jobs "plentiful," and wages are rising.
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DLPN | Hot Stocks09:23 EDT Dolphin Entertainment congratulates 42West, clients on emmy nominations - Dolphin Entertainment congratulated its subsidiary, 42West, and its clients on their incredible work being recognized in this week's nominations for the 74th annual Emmy Awards. Personal clients and programs that the company worked on in the course of the eligibility period received a total of 97 Emmy nominations.
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STCN SPLP | Hot Stocks09:22 EDT Hillandale plans to vote all shares against Steel Connect, Steel Partners merger - HHillandale delivered an open letter to the Board of Directors of Steel Connect. (STCN) raising concerns about the company's proposal to merge with Steel Partners Holdings (SPLP). Hillandale said, "We are writing as long-term shareholders of Steel Connect, holding roughly 2.0% of minority shares outstanding. We are disappointed by the Special Committee's decision after 18 months of private negotiations, with only one party, to accept this opportunistic offer, which represents a significant 61%+ discount to the over $3.50 per share that Steel Partners acquired their existing stake in STCN, a 45% discount to the 52 week trading high of $2.45, and a 29% discount from the $1.90 volume weighted average share price since the original lowball offer was made in November 2020. Most importantly, the latest offer delivers little to no value for STCN's $2 billion of tax assets, which could save SPLP and its limited partners several hundreds of millions in cash taxes over the next fifteen years. A vote for this transaction would represent a significant value transfer from STCN minority shareholders to SPLP and its limited partners. We intend to vote all of our shares against the proposed merger, in its current form. We are open to an alternative structure where SPLP appropriately shares in the significant tax savings expected from STCN's $2 billion in tax assets. We have proposed a structure where minority shareholders could be granted "Tax CVRs" for 50% of cash tax savings at SPLP, which could deliver an additional $2.00+ per share to STCN's minority shareholders, who hold roughly 38 million shares. SPLP and STCN's Board's unwillingness to engage withminority shareholders and the Special Committee regarding a Tax CVR and a global investment firm on April 20th, 2022 regarding their proposal to unlock value in STCN's tax assets is quite concerning. Even the $0.15 per share Tax CVR proposed by SPLP on May 10, 2022 would only result in SPLP sharing 1-4% in the potential cash tax savings from STCN's tax assets. Ultimately, it appears that SPLP, with its control and influence over the STCN Board, is proposing a deal that works best for SPLP, and not STCN minority shareholders. We are open to other structures, but will not support the current proposal, in its current form. We encourage shareholders to review our past letters to the STCN Board and decide for themselves."
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ATEC | Hot Stocks09:21 EDT Alphatec artificially inflated sales, Bonitas says in short report - Shares of Alphatec are falling after Bonitas Research issued a short report on the name. Evidence shows that the company's employees and shareholders "were used to secretly operate undisclosed related party distributors since 2017," Bonitas says in a report posted on its website. The firm says Alphatec failed to disclose these related party dealings "because of the impact it has on its reported revenues and inventories." Bonitas thinks company insiders "colluded with undisclosed related party distributors to artificially inflate" reported revenues and took advantage by selling stock at "artificially inflated prices." It adds, "Fake sales resulted in fake costs of goods sold which are reflected as fake inventories on ATEC's balance sheet." Shares of Alphatec, a medical device company focused on spine disorders, are down 14% in premarket trading to $5.79. Reference Link
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LEXX | Hot Stocks09:21 EDT Lexaria Bioscience gets patent allowance in Japan, submits briefing book to FDA - Lexaria Bioscience announced the company has been notified of the allowance of its 26th worldwide patent with a new patent to be granted in Japan. This patent recognizes DehydraTECH's ability to deliver active pharmaceutical ingredients more efficiently regardless of the presence of foods within the gastrointestinal system - the so-called "food effect". Delivering drugs more consistently into the bloodstream regardless of the presence of food in the GI is an important achievement in the quest for more reliable drug dosing. In additional news, Lexaria has submitted its briefing book to the FDA. The company has no further requirements or deliverables related to the pre-investigational new drug meeting request announced on June 2. The FDA has provided a target date of July 30 for meeting or comments.
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HFFG | Hot Stocks09:18 EDT HF Foods Group appoints Carlos Rodriguez as CFO - HF Foods Group announced the appointment of Mr. Carlos Rodriguez as CFO, effective on or before August 1, 2022. Mr. Rodriguez will report directly to Mr. Peter Zhang, CEO of the Company. Most recently, Mr. Rodriguez served as Chief Accounting Officer and Vice President Corporate Finance for General Life Sciences.
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TURN | Hot Stocks09:15 EDT 180 Degree Capital sees Q2 net asset value per share $8.30-$8.35 - 180 Degree Capital reported preliminary financial results as of June 30, 2022, and additional developments from the third quarter of 2022. "While we haven't yet finalized our results, given current market and economic dynamics, we thought it appropriate to provide an update to shareholders ahead of our normal reporting timeline," said Kevin Rendino, CEO of 180. "We currently expect net asset value per share as of the end of Q2 2022 will decline by 14.5-15.0% to approximately $8.30-8.35 per share. This expected decline in NAV is less than the 19% decline of the Russell Microcap Index. We purposefully kept our cash balances elevated, and the preliminary decline of our legacy private holdings was approximately 3.3%. We have made material progress in the transformation of 180 towards having a more transparent balance sheet, comprised primarily of public and related securities and cash, and these assets ended the quarter at $62.7 million, or $6.04 per share. While never happy with a decline in our NAV, our quarter decline and year to date decline was less severe than the Russell Microcap Index decline for the same periods. While this has been a painful period for our public market holdings, we are focused on generating material shareholder value over the next few years and believe this period is giving us the opportunities to do that. We believe that every day the market shortens its time horizon to only focus its obsession with today's talk of Russia, inflation, interest rates, and recession. We will lengthen ours to focus on owning companies whose stock prices we believe have a chance to increase materially once the dust settles. We will remain disciplined and calculated through these turbulent times. We are pleased we have maintained higher than normal cash balances We recently wrote a short paper on our thoughts on market bottoms and recessions that can be found on our website at https://180degreecapital.com/insights/. One thing I have learned over my 34 years investing in public equities is that the market has a discount mechanism that many fail to recognize. This means the market historically moves far in advance of future economic conditions. As such, if historical trends hold, it is my opinion and you can mark my words that I believe once the financial news outlets declare the recession is over and give the "all clear" sign, the market will have already been up 30% from its bottom. That said, nothing changes with how we seek to manage shareholder and third-party capital at 180. Our transformation has allowed us to capitalize on today's opportunities by having more liquid assets at our disposal, including the higher-than-normal cash we have kept throughout this downturn. We will be deliberate. We will be focused. We will make concentrated investments in a select few companies. That is what we have done since we started in 2017, and nothing changes today."
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STCN SPLP | Hot Stocks09:15 EDT Hillandale Advisors sends letter to Steel Connect regarding offer acceptance - Hillandale Advisors invests in undervalued companies and seeks to execute on opportunities to unlock value for the benefit of all shareholders. "Hillandale delivered an open letter to the Board of Directors of Steel Connect (STCN) raising concerns about the company's proposal to merge with Steel Partners Holdings (SPLP). SPLP's offer significantly undervalues the company and its $2B billion in tax assets. We are writing as long-term shareholders of Steel Connect holding roughly 2.0% of minority shares outstanding. We are disappointed by the Special Committee's decision after 18 months of private negotiations, with only one party, to accept this opportunistic offer, which represents a significant 61%+ discount to the over $3.50 per share that Steel Partners acquired their existing stake in STCN, a 45% discount to the 52 week trading high of $2.45, and a 29% discount from the $1.90 volume weighted average share price since the original lowball offer was made in November 2020. mm - $436mm savings.
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DCT | Hot Stocks09:13 EDT Ivans expands partnership with Duck Creek Technologies - Ivans announced an expansion to its partnership with Duck Creek Technologies to quickly integrate and onboard its carrier customers to the Ivans Distribution Platform, the industry's platform to streamline the submission process through standardized digital connections to agency-facing systems. The partnership will enable mutual customers of Duck Creek and Ivans Distribution Platform to easily implement the platform and quickly provide digital commercial quoting experiences to their agencies.
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LVO | Hot Stocks09:13 EDT LiveOne expands multi-year partnership with ReachTV - LiveOne announced an expanded multi-year content and distribution partnership with ReachTV. LiveOne's music, entertainment and vodcast/podcast video content will be featured across ReachTV's global network, including ReachTV's in airport network. Additionally, LiveOne and ReachTV will join forces to develop and produce new content and formats including podcasts/vodcasts, pay-per-view events, original TV series and more. The partnership will also offer LiveOne and its talent access to shoot in ReachTV's Miami-based studio.
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HYPR | Hot Stocks09:12 EDT Hyperfine announces zero radiation dose rapid MR Imaging test - Hyperfine announced a new software enhancement that enables brain scans in under three minutes with no ionizing radiation. This development is especially significant for young hydrocephalus patients, who may have difficulty staying still without sedation and have previously received a CT scan, which has radiation exposure due to lack of MRI access. "There is no way to prevent hydrocephalus, and there is no known cure. Young people diagnosed with this life-threatening neurological condition require life-long brain monitoring," said Hyperfine Chief Medical Officer Dr. Khan Siddiqui. "Hyperfine designed the Swoop system to bring low-field MRI to the point of care. This unique ability allows young patients to be imaged sooner, avoid harmful ionizing radiation, stay close to their caregivers, and eliminates the intimidating experience of transport and lengthy wait times often associated with traditional MR imaging."
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CLSK | Hot Stocks09:12 EDT CleanSpark acquires 1,061 Whatsminer M30S machines - CleanSpark announced it has acquired 1,061 Whatsminer M30S machines that are already mining bitcoin at Coinmint's renewable-powered co-location facility. The move adds about 93 petahashes per second of computing power to the Company's existing mining capacity. The Company bought the machines at a substantially discounted price compared to the spot market price from just a few months ago. This is the Company's second bulk purchase of machines in approximately one month. Just after the market downturn in June, the Company acquired, at an exceptionally discounted price, a purchase contract for 1,800 units of the Antminer S19 XP bitcoin mining machines. The Company's computing power has increased by 47% over the last six months, while its monthly bitcoin production has grown 50% over the same time period.
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BIOR | Hot Stocks09:10 EDT Biora Therapeutics shares preclinical data on oral delivery of biologics - Biora Therapeutics shared two posters that were presented at the Controlled Release Society, CRS, 2022 Annual Meeting, which is being held July 11-15, 2022, in Montreal, Canada. "We are presenting results of early preclinical research on our systemic therapeutics platform at CRS, where we have developed preclinical models that enable further evaluation of device performance and pharmacokinetics," said Adi Mohanty, Chief Executive Officer of Biora Therapeutics. "We also presented the results of a preclinical study, where we demonstrated monoclonal antibody bioavailability of up to 55% with an average of 25% in animals with drug detected in blood. This is an order of magnitude greater than current oral protein or peptide delivery methods." The company presented a poster titled "Assessing the performance of an oral biotherapeutic delivery system using intra-duodenal endoscopy delivery in Yucatan minipigs," in which researchers for the company developed a method for endoscopic administration of OBDS capsules in a swine model, enabling preclinical evaluation of device performance and pharmacokinetics. Functionality of the endoscopic delivery method was demonstrated, showing that all OBDS capsules were successfully released in the small intestine to transit naturally and autonomously deploy in the intestine. Biora also presented a poster titled "Development of ex-vivo and in-vivo models to assess the performance of an oral biotherapeutic delivery system capsule," which presented preclinical research used to determine the appropriate animal models to use for future assessment of device performance and pharmacokinetics for the OBDS capsule. The company demonstrated that due to similarity of human and swine intestine anatomy, a swine model is appropriate for assessment of bioavailability and human translational studies. However, the difficulties of oral delivery in swine support the use of a canine model for assessment of consistency and reproducibility.
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CVX | Hot Stocks09:09 EDT Chevron Technology Ventures invests in Xage - Xage announced investment from Chevron Technology Ventures to further accelerate the use of zero trust in protecting energy and other critical infrastructure from cyber threats. The additional capital extends Xage's series B venture capital financing for a second time in the last two months, bringing Xage's total financing to-date to $62M.
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NVEI | Hot Stocks09:09 EDT Nuvei announces it is extending its partnership with GoldBet - Nuvei Corporation announces that it is extending its partnership with GoldBet, one of Italy's premier sports betting, online casino, and poker platforms, to enable the operator to integrate new payment methods into its cashier. Nuvei has been enabling GoldBet to offer an industry-leading player experience in Italy since 2020, via a single integration to its full stack payments solution. GoldBet players are able to use all the relevant payment methods they demand in the Italian market. Philip Fayer, Nuvei Chair and CEO, commented: "GoldBet is one of the leading gaming platforms in Italy because of its commitment to player experience. Frictionless deposits and withdrawals, superior card acceptance rates, and a wide choice of preferred payment methods are all key. That's what Nuvei brings to the table for operators. We continue to deliver best-in-class payments services to the leading digital businesses across the globe. And we work with these businesses to deliver a customized solution that is specific to their individual needs. This is how payments makes the most significant impact on revenues and business growth."
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VZ V | Hot Stocks09:07 EDT Verizon Visa Card holders can earn 4% rewards on gas purchases - Verizon Visa Card holders can earn 4% in rewards on gas purchases any time- all year round. The company said, "The Verizon Visa Card is a credit card built right that pays off in big ways. In addition to earning rewards in the form of Verizon Dollars every time you fill up your car, card holders can earn rewards on purchases everywhere Visa credit cards are accepted. Including 4% on grocery store purchases, 3% at restaurants, including take out, 2% on Verizon purchases and 1% on all other purchases. Verizon Dollars can be used to book flights, hotel rooms and rental cars, for gift cards from your favorite brands, or for the latest tech. You can even use them to pay your Verizon wireless and Fios bills. Verizon Dollars never expire and there are no annual or foreign transactions fee with the card!"
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BRQS | Hot Stocks09:06 EDT Borqs Technologies regains compliance with Nasdaq's minimum bid price rule - Borqs Technologies announced that it received a letter dated July 12, 2022 from Nasdaq Listing Qualifications that: "Staff has determined that for the last 10 consecutive business days, from June 27 through July 11, 2022, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2), and this matter is now closed."
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LESL | Hot Stocks09:06 EDT Leslie's opened 11 new stores in summer 2022 - Leslie's opened 11 new stores in Summer 2022, expanding its retail presence across the U.S., including new store locations in markets where Leslie's has not previously operated: Kalamazoo, MI; Camillus, NY; Brookfield, WI; and Greendale, WI. These new stores bring Leslie's total store count to over 970 across 39 states.
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CVV | Hot Stocks09:06 EDT CVD Equipment reports Q2 orders exceed $12.6M vs. $6M in 2Q21 - CVD Equipment announced increased order demand in the second quarter of 2022. Orders exceeded $12.6M in the second quarter of 2022 compared to approximately $6M in the second quarter of 2021 and orders of $16.7M for the first half of 2022 compared to $9.7 million in the same period of 2021, yielding an increase of 73.2% in the first half of 2022 over 2021. CVD's orders in the first half of 2022 were attributed to the strong demand for the PVT-150 system developed to support the manufacturing of Silicon Carbide wafers used in high power electronics for EV charging & power transmission. Also contributing to the order flow is the need for nanotechnology materials including carbon nanotubes/fibers, nanomaterials on powder and superconducting tape. All these orders support the electrical vehicle market as well as the trend of the electrification of everything. In the first half of 2022, 20 combined CVD systems were ordered. The systems are planned to ship in the 2nd half of 2022 and into 2023. "Our focus in 2022 is on applications that support electric vehicles and more broadly the electrification of everything, while sustaining our presence and support of our aerospace applications," said Emmanuel Lakios, President and CEO of CVD Equipment Corporation. "We are encouraged and pleased with the response of the market place to our products, technologies and services."
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GLXZ | Hot Stocks09:06 EDT Galaxy Gaming appoints Meredith Brill to board of directors - Galaxy Gaming announced that Meredith Brill has been appointed to its Board of Directors effective July 13, 2022. Ms. Brill fills the seat vacated by William Zender, who resigned from the Board effective July 1, 2022. She will serve until the next election of directors at a meeting of shareholders. Brill is a Private Investor and has been a shareholder of Galaxy Gaming for some time.
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EXPI | Hot Stocks09:06 EDT eXp World Holdings completes acquisition of Zoocasa Realty - eXp World announced it has completed its acquisition of Zoocasa Realty and its key property, Zoocasa.com. The deal will expand eXp Realty's online lead generation, home search and listings portal capabilities for its agents and brokers as well as for home buying and selling consumers across North America. "We're thrilled to officially welcome Zoocasa to eXp Realty," said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. "This acquisition will provide an immediate and exponential boost to our Canadian agents, as well as to our broader community of agents and real estate customers throughout North America as we look to expand Zoocasa offerings and technology-based solutions."
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CSSE FUBO | Hot Stocks09:05 EDT Crackle, Popcornflix FAST channels launch on FuboTV - Crackle Plus (CSSE) announced the launch of Crackle and Popcornflix FAST channels on FuboTV's (FUBO) platform in the United States.
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REVB | Hot Stocks09:05 EDT Revelation Biosciences completes data base lock for its Phase 1b CLEAR study - Revelation Biosciences announced data base lock for its Phase 1b CLEAR clinical study to evaluate the effect of intranasal REVTx-99b on nasal challenge allergen in participants with allergic rhinitis to rye grass pollen. Topline data is expected in the last week of July 2022. The Phase 1b, randomized, double-blind, placebo-controlled, crossover study design was conducted in Australia. The primary endpoint is to evaluate the effects of REVTx-99b versus placebo on safety and tolerability. Key exploratory endpoints include allergy symptoms and peak nasal inspiratory flow elicited by nasal allergen challenge. The study enrolled two cohorts: one cohort received study drug prior to nasal allergen challenge and the second cohort received study drug after the nasal allergen challenge. "We are delighted to have the database lock completed in a timely and efficient manner and look forward to reporting the results soon," said James Rolke, Chief Executive Officer of Revelation. "This is an important milestone taking us one step further in the development of a treatment for patients who suffer from allergic rhinitis - including patients with severe cases that may require invasive sinus surgery."
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CMI | Hot Stocks09:04 EDT Cummins CEO Tom Linebarger to end term, Jennifer Rumsey to succeed - Cummins announced that, effective August 1, Tom Linebarger will end his term as CEO and Jennifer Rumsey, president and COO, will assume the role of president and CEO. Linebarger will continue to serve as chairman of the board of directors and in an executive chairman role, working directly with Rumsey on specific initiatives, including completing the pending acquisition of Meritor. Since taking on the role of COO in March, Rumsey has overseen Cummins' global operations. In February, she was elected to the Cummins board of directors, and she will maintain her seat on the board.
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MF | Hot Stocks09:04 EDT Missfresh announces partnership, RMB 200M investment from Shanxi Donghui - Missfresh announced it has formed a strategic partnership with Shanxi Donghui, a multinational conglomerate with diversified businesses including energy, nonferrous metals, cultural tourism and modern agriculture. Pursuant to the strategic investment agreement dated as of July 14, 2022, Shanxi Donghui will make an RMB200 million equity investment in Missfresh. Through the strategic partnership, Missfresh and Shanxi Donghui will exchange resources and best practices relating to agriculture operations and sales and marketing to strategically cooperate on a range of initiatives around the agriculture supply chain including agricultural branding, contract farming and supply chain management. Pursuant to the Agreement, Shanxi Donghui or its designated affiliate will subscribe for 298,507,463 Class B ordinary shares of the Company in the amount of the US$ equivalence of RMB 200M, subject to the satisfaction of the closing condition that Shanxi Donghui or its designated affiliate completes all necessary registrations and obtains all required governmental approvals in China for its overseas direct investment in the Company in the twelve months following the signing date of the Agreement. "We are excited to welcome Shanxi Donghui as our strategic investor and distinguished partner," said Zheng Xu, Founder, Chairman and Chief Executive Officer of the Company. "This partnership will help us advance our fresh food supply chain capabilities and provide a superior grocery shopping experience for consumers in China. Furthermore, the investment is a meaningful source of capital to fund our business development. We look forward to working closely with Shanxi Donghui to cultivate high-quality agricultural brands and pursue excellence in supply chain management within the farming sector and a seamless experience for our customers."
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BSET | Hot Stocks09:04 EDT Bassett Furniture raises quarterly dividend 14% to 16c per share - Bassett Furniture Industries announced that its Board of Directors has increased the quarterly dividend by 14%, declaring a regular quarterly dividend of $0.16 per share of common stock, payable on August 26, 2022, to shareholders of record at the close of business on August 12, 2022.
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ALHC | Hot Stocks09:02 EDT Alignment Healthcare to enter Texas in 2023, pending approval from CMS - Alignment Healthcare announced more details of its expansion into Texas, extending its Medicare Advantage plans and care model to about 140,000 Medicare-eligible adults in El Paso and Hudspeth counties in 2023, pending regulatory approval from the Centers for Medicare & Medicaid Services, CMS. If approved by CMS, Medicare-eligible beneficiaries in El Paso and Hudspeth counties would be able to choose Alignment Health Plan HMO, PPO and chronic condition special needs plan options during Medicare's annual enrollment period, Oct. 15-Dec. 7, for coverage starting Jan. 1, 2023. Along with Texas, Alignment Healthcare plans to offer its Medicare Advantage prescription drug plans to seniors in Florida for the first time in four counties and grow its presence in eight additional counties across Arizona, California, Nevada and North Carolina in 2023, subject to CMS approval.
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GOEV | Hot Stocks09:02 EDT Canoo's multi-purpose platform selected by Army for analysis & demostration - Canoo has been awarded by the U.S. Army to supply an electric vehicle for analysis and demonstration. This contract supports the U.S. military's focus to incorporate scalable and adaptable capabilities in operational and garrison environments. Canoo's multi-purpose platform was recently selected by NASA for crew transportation vehicles to deliver astronauts to the Artemis launch site for lunar missions to establish the first long-term presence on the Moon.
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RNWK | Hot Stocks08:54 EDT RealNetworks CFO leaving July 31, Brian McClain named Interim CFO - RealNetworks announced a CFO transition plan. Current CFO Christine Chambers will be leaving Real on July 31 to pursue another opportunity. To fill her role, the company has hired Brian McClain, who joined the company as a full-time strategic advisor on July 6th and will succeed Chambers as Interim CFO and Treasurer on August 1. McClain most recently served as President and CFO of Pelco, a computer security company. Prior to that, as CFO of LOUD Audio, Brian directed all financial, accounting, and IT functions for a $75M professional audio and music products company.
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CNXA | Hot Stocks08:51 EDT Slinger completes beta test of Ball Launcher for padel - Connexa Sports announced that its portfolio brand Slinger has completed another beta test of a new Ball Launcher - this time for the sport of padel. The company is expanding to both Pickleball and Padel this fall, and will follow the launch of these two new consumer Ball Launchers with supporting technologies aimed at on-court enjoyment and improvement.
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CNX | Hot Stocks08:51 EDT CNX Resources and Newlight partner to capture Aircarbon methane emissions - CNX Resources and Newlight Technologies have entered into a 15-year agreement to capture and utilize methane emissions for the production of Aircarbon, a naturally-occurring molecule also known as PHB that replaces plastic but is carbon-negative and biologically degrades in natural environments. CNX and Newlight will work together to capture waste methane from third party industrial activity that would typically be vented to atmosphere. CNX will gather, process, and deliver the methane through new and existing natural gas pipeline infrastructure, and Newlight will acquire contractual rights to a portion of the captured methane to support the production of Aircarbon. The agreement will enable the large-scale reduction of both carbon emissions and plastic pollution.
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RHHBY | Hot Stocks08:50 EDT Genentech announces new two-year data from TENAYA, LUCERNE studies - Genentech, a member of Roche Group, announced new two-year data from the TENAYA and LUCERNE studies that reinforce the long-term efficacy, safety and durability of Vabysmo in wet, or neovascular, age-related macular degeneration (AMD), a leading cause of vision loss. Wet AMD affects nearly 1.1M people in the U.S. and can require treatment with eye injections every one to two months. The two-year data were presented at the 2022 American Society of Retina Specialists Annual Scientific Meeting on July 14. In the TENAYA and LUCERNE studies, at two years: More than 60% of people receiving Vabysmo could be treated every four months - an increase of over 15 percentage points since the primary analysis at one year - while achieving comparable vision gains versus aflibercept given every two months. Nearly 80% of people receiving Vabysmo could be treated every three months or longer. Patients treated with Vabysmo received a median number of 10 injections over the two years versus 15 injections for those patients treated with aflibercept, potentially decreasing the number of injections. Comparable reductions in central subfield thickness were observed with Vabysmo given at intervals of up to four months versus aflibercept given every two months. No new safety signals were identified, and Vabysmo continued to be well tolerated, with a favorable benefit-risk profile. The primary analyses at one year formed the basis of the recent wet AMD approvals in the U.S., Japan, the U.K. and several other countries around the world. Vabysmo is also approved in these countries for diabetic macular edema. Vabysmo is currently under review by the European Medicines Agency for these conditions, and submissions to other regulatory authorities around the world are ongoing. Vabysmo is the first bispecific antibody for the eye and the only injectable eye medicine approved by the FDA with the option for treatments from one to four months apart in the first year following four initial monthly loading doses, based on evaluation of the patient's anatomy and vision outcomes. Vabysmo is designed to block two disease pathways linked to a number of vision-threatening retinal conditions by neutralizing angiopoietin-2 and vascular endothelial growth factor-A. While research is underway to better understand the role of the Ang-2 pathway in retinal disease, Ang-2 and VEGF-A are thought to contribute to vision loss by destabilizing blood vessels, which may cause new leaky blood vessels to form and increase inflammation.
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FOUN RBT | Hot Stocks08:47 EDT Rubicon announces nomination of Paula Henderson to board of directors - Rubicon Technologies (RBT) announced the nomination of Paula Henderson, Executive Vice President and Chief Sales Officer, Americas, at SAS, to its Board of Directors upon the closing of the Company's previously announced business combination with Founder SPAC (FOUN).
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JPM | Hot Stocks08:46 EDT JPMorgan says credit 'still quite healthy, positive loan growth trends' - Says spending of U.S. consumer "still healthy." Says yet to observe pull back in consumer discretionary spending. Says average consumer spending on gas up 35% y/y. Says "strong quarter" in equity markets in Q2. Sees FY22 net interest income of $58B+; adjusted expense ~$77B; net charge off rate less than 2%. Comments taken from Q2 earnings conference call.
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STAF | Hot Stocks08:44 EDT Staffing 360 Solutions launches new UK brand Butler, Bridge & May - Staffing 360 Solutions announced that it has launched Butler, Bridge & May, a new Professional brand and first organic brand launch in the UK. Butler, Bridge & May was created as a result of Staffing 360's response to ongoing client demand for a broader range of services for Professional administrative roles. The new brand will initially focus on the placements of Executive Assistants, Talent Acquisition Managers and Human Resource professionals via contract or permanent engagement. Alicia Barker, Chief Operating Officer of Staffing 360 Solutions, said that "Our newest professional brand delivers on our initiatives to broaden offerings and become a deeper resource for our existing clients and new clients." Barker concluded, "We believe that scale and technology are two of the key components required of the future leading human capital providers. Our new professional brand builds on our expanding scale on the heels of the recently announced accretive acquisition of Headway Workforce Solutions."
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OSS | Hot Stocks08:43 EDT One Stop Systems forms AI Transportables Advisory Board - One Stop Systems has formed a new strategic advisory board to help accelerate its pursuit of the multi-billion-dollar AI Transportables market. The advisors include retired high-ranking military officials and corporate executives with decades of experience in technology, high performance computing and M&A for the defense, oil & gas, AI and unmanned vehicle industry verticals. The advisory members are providing input on product and market strategy, as well as helping OSS navigate targeted organizations and the armed forces. The advisors will help refine strategies, navigate government bureaucracy, and identify/introduce the company to key decision makers, all with the goal of accelerating OSS' success. In addition to supporting the growth of OSS' military business, the advisory board will help with M&A strategy, navigating the competitive landscape and making introductions throughout the industry. Although the autonomous truck business within the AI Transportables market is gaining traction for OSS, there are several other verticals or opportunities that the company has limited visibility as of this point in time. We believe that the advisors and their backgrounds in oil & gas, agriculture and mining will help OSS address emerging opportunities in these markets to support the company's growth.
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AMZN | Hot Stocks08:43 EDT Amazon reports Prime members purchased over 300M items during Prime Day - Prime members purchased more than 300M items worldwide during Prime Day, making this year's event the biggest Prime Day event in Amazon's history. And, more shopping means more savings, Prime members saved over $1.7B, more than any previous Prime Day event. This year was the biggest Prime Day event for Amazon's selling partners, most of whom are small and medium-sized businesses, whose sales growth in Amazon's store outpaced Amazon's retail business. Customers spent over $3B on more than 100M small business items included in the Support Small Businesses to Win Big sweepstakes.
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EVGO GM | Hot Stocks08:42 EDT EVgo jumps 3.5% as GM, Pilot collaborate on fast-charging network - EVgo will maintain the network through its eXtend offering.
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SRGA | Hot Stocks08:42 EDT Surgalign announces partnership with PRIA Healthcare - Surgalign announced PRIA Healthcare will serve as a strategic partner in support of the recently launched Surgalign Patient Access Program. The objective of the Surgalign Patient Access Program is to help patients realize improved access to medical technologies that drive better outcomes, such as the Company's Coflex Interlaminar Stabilization and SImmetry Sacroiliac Joint Fusion systems. Terry Rich, President and Chief Executive Officer of Surgalign stated, "Our vision at Surgalign is to drive optimal patient outcomes while advancing the standard of spine care. We partnered with PRIA because of their extensive experience advocating for patients to receive favorable medical coverage. Ultimately this program will expand patient access to procedures and devices such as the Coflex Interlaminar Stabilization and SImmetry SI Joint Fusion systems."
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GRIL | Hot Stocks08:41 EDT Pokemoto signs lease for corporate-owned location in Wichita, Kansas - Pokemoto, Muscle Maker announced the signing of a new lease for a corporate owned and operated location in the Wichita, Kansas market. The Wichita location is unique with three open-lunch major high schools as well as Wichita State University within its trade area. Wichita is a regional center of culture, media, and trade. It hosts several universities, large museums, theaters, parks, shopping centers, and entertainment venues with a metro area population of over 625,000. This new location marks the first entry for Pokemoto into the Kansas market.
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BLIN | Hot Stocks08:41 EDT Bridgeline Digital's Hawksearch launched solution on website for Procon - Hawksearch, by Bridgeline Digital, announced the launch of their solution on the website for Procon Products, a leading pump manufacturer. Procon's site, with over 10,000 products, will leverage Bridgeline's Hawksearch to power search, recommendations, and search information management. Ari Kahn, CEO of Bridgeline says, "We are thrilled to be working with Procon Products to deliver excellent customer experiences that lead to revenue growth. I look forward to witnessing Hawksearch help businesses launch their sites and build new growth strategies."
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MNRO | Hot Stocks08:40 EDT Ides Capital sends letter to Monro board pertaining to recapitalization plan - Ides Capital Management a New York-based investment advisor that sent a letter to the Company's Board of Directors. Ides, together with its affiliates, has been a shareholder of Monro, since June 2017. In the letter, Ides Capital Management said in part: "We are writing to you today in light of Monro's July 7 issuance of its 2022 Proxy Statement. More specifically, we write with respect to the passage titled "Board Response to Shareholder Proposal Regarding Recapitalization Plan." As a reminder, last year Ides Capital submitted a shareholder proposal that appeared in the Company's 2021 Proxy Statement, copied here: Shareholders request that our Board take all practicable steps in its control to initiate and adopt a recapitalization plan for all outstanding classes of stock to have one vote per share in each voting situation and eliminate any veto power held by one class of stock over the voting power of another class of stock...First, the Board should immediately create a formal strategic review committee...Given the long-term underperformance at Monro, we fail to understand how the Board is comfortable shunning what are almost certainly better alternatives for common shareholders. Critically, we note that Monro trades at an approximate 30% discount to its public peers and trades at a commensurate if not even more meaningful discount to premiums paid by buyers of similar businesses. If, through the Company's recent proxy statement, the Board is somehow indicating that the Class C Preferred Holder has demanded a control premium so onerous as to significantly collapse these valuation spreads, then the Board has had an obligation to report this material fact to its investors and the market. Its failure to do so thus far, along with its failure to consider strategic alternatives and approaches, constitutes a potentially patent disregard of both the Board's fiduciary obligations to its common shareholders as well its obligations under the SEC's disclosure regime."
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GM EVGO | Hot Stocks08:40 EDT General Motors and Pilot Company to build coast-to-coast EV charging network - GM (GM) and Pilot Company are collaborating on a national DC fast charging network that will be installed, operated and maintained by EVgo (EVGO) through its eXtend offering. This network of 2,000 charging stalls, co-branded "Pilot Flying J" and "Ultium Charge 360", will be powered by EVgo eXtend and open to all EV brands at up to 500 Pilot and Flying J travel centers. GM customers will receive special benefits like exclusive reservations, discounts on charging, a streamlined charging process through Plug and Charge and integration into GM's vehicle brand apps. EVgo is also working with GM to add more than 3,250 fast chargers in American cities and suburbs by the end of 2025. This collaboration is targeting the installation of charging stalls at 50-mile intervals across the U.S. Pilot and Flying J travel centers are open 24/7.
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GRVI | Hot Stocks08:39 EDT Grove announces name change to Upexi - Grove has taken the formal steps to change its name to Upexi and incorporated wholly owned subsidiaries; Upexi Holdings and Upexi Enterprises. The change is representative of the evolution of the business. Grove, Inc. started as a scaling hemp company but has become much more. The business has expanded beyond the CBD industry and will focus on the larger market opportunities in consumer brands, SaaS programmatic advertising technology, and its growing reseller and liquidation businesses for both Amazon and direct to consumer markets. Allan Marshall stated in a letter to shareholders that, "The Direct-to-Consumer market will remain a key initiative as we believe consumer behavior has been changed forever and that profits and value will continue to be in this vertical. To this end, we have made an investment in an advertising platform to acquire the most valuable asset of a DTC company, which is customer data. The material growth of our consumer database has been a key driver of our sales and profits in fiscal year 2022. Each of the brands and businesses have contributed to company growth and have us better positioned for continued success. To support the future growth, we have made investments in distribution, logistics and technology to service our customers across all current and future product offerings."
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SLHG | Hot Stocks08:39 EDT Skylight Health announces re-appointment of co-founder Qureshi as president - Skylight Health Group announced the re-appointment of Co-Founder and current Director and Chief Corporate Officer Kash Qureshi as President. Prad Sekar, CEO and Co-Founder of Skylight Health said, "What has made us resilient in any environment is having both co-founders working side by side for over 12 years. Kash and I will continue to execute our plan to bring Skylight into profitability in 2022. We are fortunate to have an experienced and highly capable senior management team who will continue to lead our company and focus on returning shareholder value. The Company thanks Mohammad Bataineh for his contributions and wishes him the best in the future." Kash Qureshi, Co-Founder of Skylight Health, will replace Mohammad Bataineh as President, and will remain an Executive Member of the Board of Directors.
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SURG | Hot Stocks08:38 EDT SurgePays passes 150,000 mobile broadband subscribers - SurgePays announces it exceeded 150,000 subscribers in its mobile broadband subscriber business SurgePhone Wireless, the Company's wholly owned subsidiary. "Our goal is to make high speed internet accessible to the underbanked and underserved regardless of income, credit, or location. We believe employment, healthcare, and education for this market will be directly impacted by broadband connectivity," said Chairman and CEO, Brian Cox. Cox continued: "Now that we are a licensed provider of mobile broadband through the Affordable Connectivity Program in all 50 states, we have made moves to accelerate growth including acquiring one of the leading wireless telecom Customer Relationship Management cloud software platforms. This instantly increased our online sign-up and enrollment capabilities. We are now seeing over 300 new subscribers a day using custom developed bot technology to reach a larger audience and expect to continue to scale with triple digit growth. A government fact sheet estimated as many as 48 million households qualify under this program, which means we are in the early innings of a significant growth opportunity."
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PTLO | Hot Stocks08:38 EDT Portillo's celebrates National Hot Dog Week with free delivery, giveaway - Portillo's will celebrate National Hot Dog Week from July 18-24, by offering free delivery to all customers who place an order at Portillos.com. In addition to enjoying free delivery on their Portillos.com orders, hot dog enthusiasts can enter Portillo's Rockin' Crocs Giveaway for the chance to win one of 100 pairs of limited-edition Crocs Classic Clogs. In addition, three winners will also receive a pair of tickets to Lollapalooza, courtesy of Coca-Cola.
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EJH | Hot Stocks08:37 EDT E-Home Household Service announces 'carbon neutral,' green initiative - E-Home Household Service announced a new "carbon neutral" initiative to provide specialized waste classification, energy saving and emission reduction household services. E-Home plans to launch garbage classification services and incorporate the concept of "emission reduction" into standard door-to-door household cleaning and maintenance services. The Company is also looking to provide such waste sorting services for public service institutions and has signed contract with a local property management company in Fujian for domestic garbage sorting and dumping. Wenshan Xie, Chairman and CEO of E-Home, commented: "We are delighted to announce our carbon neutral project and we believe this new initiative will help create new jobs and work to expand our revenue from household training, boosting our profitability. In recent years we humans are profoundly aware that climate change is a security issue related to the survival and sustainable development of the whole ecosystem. To help facilitate China's carbon neutral goals, E-Home will also seek to adhere to green, low-carbon and circular development via transforming and upgrading our existing high-quality household cleaning and maintenance services."
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SABR | Hot Stocks08:36 EDT Sabre selected by Mexican hotel operator Posadas for distribution expansion - Sabre announced a new distribution agreement with Mexican hotel operator Posadas which will aim to accelerate its growth plans and drive higher revenue through Sabre's SynXis Central Reservations platform. The agreement will allow the hotel operator to put its inventory in front of travel agents globally across all major global distribution systems through Sabre Hospitality's SynXis CR. Sabre also continues to support Posadas' GDS marketing.
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VIR | Hot Stocks08:36 EDT Vir Biotechnology announces Chief Scientific Officer to step down - Vir Biotechnology announced that Herbert "Skip" Virgin, M.D., Ph.D., Vir's executive vice president, research and chief scientific officer, will step down effective August 31, 2022 to pursue a new position as chief medical officer and head of the Altos Institute of Medicine. He will remain a member of Vir's Scientific Advisory Board. Phil Pang, M.D., Ph.D., Vir's executive vice president and chief medical officer, will take on overall responsibility for research and development on an interim basis while the Company identifies a permanent successor.
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RWAY | Hot Stocks08:36 EDT Runway Growth Finance funds nine investments in Q2 - Runway Growth Finance provided an operational and portfolio update for the second quarter ended June 30, 2022. In the second quarter of 2022, Runway Growth funded nine investments: four investments in new portfolio companies, and five new investments in existing portfolio companies. These include: Completion of a new $50 million senior secured term loan commitment to EBR Systems, funding $20 million at close. EBR Systems is a clinical-stage medical device company that has developed the only leadless pacemaker for the left ventricle to assist in cardiac resynchronization therapy. Its product, WiSE, which targets patients that cannot receive CRT from existing lead-based devices, is the only solution for endocardial pacing of the left ventricle; Completion of a new $50 million senior secured term loan commitment to Interactions, funding $40 million at close. Interactions is a leading provider of conversational AI and virtual assistance applications across voice and text use cases. The company manages customer care interactions through a combination of its proprietary advanced automation platform, speech recognition technology, and human assisted comprehension; Completion of a new $30 million senior secured term loan commitment to Moximed, funding $15 million at close. Moximed is a medical device company that has developed an implantable shock absorber for the knee as an alternative method of treating mild-to-moderate knee osteoarthritis. Its product, Calypso, functions as an implant that reduces the load placed on the knee by up to 30% without altering the functionality of the knee itself; Completion of a $60 million senior secured term loan commitment to a new portfolio company that is a developer of a crowdsourced security testing platform designed to deliver smart penetration testing to security teams, funding $35 million at close; Completion of a $10 million upsize and follow-on investment in existing portfolio company VTX Holdings, LLC dba VertexOne. Founded more than 20 years ago and based in Richardson, Texas, VertexOne is a leading provider of software as a service applications and services for the critical businesses processes of utilities. The services include system implementation, application, maintenance and support, software development, analytics, mobile work force data management systems, and customer implementation systems. The company serves more than 200 gas, electric, and water utility customers; Funding of $5 million follow-on senior secured term loan to existing portfolio company Allurion Technologies. Allurion was founded in 2009 with one mission: end obesity. The Allurion program combines medical, digital, and nutritional approaches and engages an entire team to jumpstart weight loss and form lifelong healthy habits; Funding of $10 million follow-on senior secured term loan to existing portfolio company Cloudpay. Cloudpay develops and offers a cloud-based payroll platform, managed services, and treasury services to provide end-to-end payroll solutions to multinational organizations. The company's platform offers accurate, standardized payroll processing in over 120 countries, through a single SaaS platform, which enables organizations to increase efficiency, streamline compliance, and achieve greater visibility into payroll; Funding of $5 million follow-on senior secured term loan to existing portfolio company INRIX. INRIX is a global leader in connected car services and transportation analytics. Leveraging big data and the cloud, INRIX delivers comprehensive services and solutions to help move people, cities, and businesses forward; and Funding of $11.7 million follow-on senior secured term loan to existing portfolio company Marley Spoon, a global direct-to-consumer company that provides quality meal-kits in an appealing and sustainable manner. During the second quarter ended June 30, 2022, Runway Growth experienced three liquidity events totaling $86.8 million: In conjunction with Mojix, Inc.'s sale, we received $17.3 million in principal, fees and proceeds from the exercise and sale of our warrants and equity; Repayment of senior secured term loans to Brilliant Earth, LLC totaling $65.0 million in principal and $2.5 million in interest, fees, and end of term payments. Partial sale of our equity position in BRLT for proceeds of approximately $1.5 million; and Repayment of senior secured term loan to Cogniti Corp. for proceeds of $0.5 million.
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GM | Hot Stocks08:34 EDT General Motors and Pilot Company to build coast-to-coast EV charging network - GM and Pilot Company are collaborating on a national DC fast charging network that will be installed, operated and maintained by EVgo through its eXtend offering. This network of 2,000 charging stalls, co-branded "Pilot Flying J" and "Ultium Charge 360", will be powered by EVgo eXtend and open to all EV brands at up to 500 Pilot and Flying J travel centers. GM customers will receive special benefits like exclusive reservations, discounts on charging, a streamlined charging process through Plug and Charge and integration into GM's vehicle brand apps. EVgo is also working with GM to add more than 3,250 fast chargers in American cities and suburbs by the end of 2025. This collaboration is targeting the installation of charging stalls at 50-mile intervals across the U.S. Pilot and Flying J travel centers are open 24/7.
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SCYX | Hot Stocks08:34 EDT Scynexis to present data from CANDLE 304s nested sub-study of ibrexafungerp - SCYNEXIS announced that data from the CANDLE 304s nested sub-study of ibrexafungerp for prevention of recurrent vulvovaginal candidiasis, RVVC, will be presented during the International Society for the Study of Vulvovaginal Disease, ISSVD, XXVI World Congress and International Vulvovaginal Disease Update being held in Dublin, Ireland, July 15-20, 2022. Title: "Outcomes of Oral Ibrexafungerp in Patients with Vulvovaginal Candidiasis who Failed Fluconazole Therapy."
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SMMT | Hot Stocks08:33 EDT Summit Therapeutics plans to explore additional clinical trial for ridinilazole - Summit Therapeutics provided an update with respect to the clinical development of ridinilazole, its lead Phase III product candidate for the treatment of patients with Clostridioides difficile infection. The company said, "This week, Summit and the US Food & Drug Administration held a Type C meeting during which Summit discussed certain data from the Ri-CoDIFy Phase III clinical trial with the agency. The FDA and Summit discussed a possible pathway in which to advance ridinilazole forward with the goal of achieving marketing authorization. This pathway would involve reasonable efforts that would likely involve at least one additional clinical trial. We plan to explore this possibility. We also plan to share the results from our Ri-CoDIFy Phase III clinical trial through an oral abstract presentation at IDWeek 2022, a major medical conference scheduled to be held in Washington, DC in October. IDWeek is the joint annual meeting of the Infectious Diseases Society of America, Society for Healthcare Epidemiology of America, the HIV Medicine Association, the Pediatric Infectious Diseases Society, and the Society of Infectious Diseases Pharmacists.
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OSIS | Hot Stocks08:33 EDT OSI Systems receives $4M order to provide patient monitoring solutions - OSI Systems announced that its Healthcare division, Spacelabs Healthcare, received an order valued at approximately $4M to provide patient monitoring solutions to a U.S. based hospital. The company is expected to provide Xhibit Central Stations, AriaTele telemetry, Xprezzon patient monitors, Qube patient monitors, and SafeNSound patient management software.
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RARE | Hot Stocks08:33 EDT Ultragenyx sells 30% of future North American royalties on Crysvita for $500M - Ultragenyx Pharmaceutical announced the sale of 30% of the company's royalty interest from Kyowa Kirin on the future sales of Crysvita in the United States and Canada to OMERS, one of Canada's largest defined benefit pension plans, for $500M. OMERS' right to receive royalty payments is based on net sales of the product beginning in April 2023 and total payments are capped at 1.45 times the purchase price. "In North America, Crysvita has generated more than $1.3 billion net sales in the first four years on the market making it one of the most successful launches in the rare disease field. This non-dilutive financing bolsters Ultragenyx's balance sheet, funds the ongoing commercialization of multiple approved medicines and the advancement of our diverse clinical pipeline," said Mardi Dier, Chief Financial Officer of Ultragenyx. "We are pleased to partner with OMERS on this transaction who, like us, recognizes the ongoing and future value of Crysvita, the tremendous success of the launch and the significance for patients who will continue to benefit from this important medicine."
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TRRSF | Hot Stocks08:29 EDT Trisura Group completes C$150M bought deal public offering - Trisura Group announced that it has completed its previously announced public offering of 4,512,000 common shares, including 442,000 common shares issued pursuant to the partial exercise of the underwriters' over-allotment option, at a price of $33.25 per common share, for gross proceeds of approximately $150 million. The Offering was completed on a bought deal basis by a syndicate of underwriters led by BMO Capital Markets and Cormark Securities Inc., and including CIBC Capital Markets, TD Securities Inc., National Bank Financial Inc., Raymond James Ltd., RBC Capital Markets and Scotia Capital Inc.
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SYTA | Hot Stocks08:26 EDT Siyata Mobile launches Siyata High Power User Equipment antenna - Siyata Mobile announced it is launching a new product, a Siyata High Power User Equipment antenna, in conjunction with Assured Wireless Corporation. This unique solution is designed to be used specifically on FirstNet that leverages 700 MHz Band 14 - the only U.S. spectrum where the highest-power HPUE equipment can be used.
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TWTR | Hot Stocks08:22 EDT User reprots indicate problems at Twitter, Downdetector says - Reference Link
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WMT BMRA | Hot Stocks08:22 EDT Walmart to begin selling Biomerica's Aware Breast Self Exam device - Biomerica (BMRA) announced that under a General Merchandise Supplier Agreement with Walmart (WMT), the Company's Aware(R) Breast Self Exam device will now be sold in Walmart's retail system. Biomerica has now shipped its first orders of the Aware product to Walmart, and Walmart will initially begin selling the product through its online sales channel in the USA. Biomerica is also in the final phase of working with Walmart to stock and sell the Aware product in Walmart stores in the U.S. Additionally, the Company is in negotiations with other partners for distribution of the Aware Breast Self Exam product in markets outside of the U.S.
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FLYW | Hot Stocks08:21 EDT Flywire completes acquisition of Cohort Go, sees modest accretion - Flywire announced that it has completed the acquisition of Cohort Go, an international education payments provider that brings additional students, agents and essential student services to Flywire. Cohort Go's core focus is on providing international students with the ability to make cross-border tuition payments through international agents. Flywire said, "The acquisition of Cohort Go is a continuation of Flywire's long-term plan to supplement its strong organic growth and continually expand across all business lines. The acquisition is expected to be modestly accretive to revenue and Adjusted EBITDA. More details will be shared on the upcoming earnings call scheduled for August 9, 2022."
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ABM | Hot Stocks08:20 EDT ABM initiates Energy Performance Contracting program for FCPS - ABM announced the initiation of an Energy Performance Contracting program for Fredericksburg City Public Schools, located in Fredericksburg, Virginia. ABM's custom solution creates $3.1 million in projected energy and operating cost savings over a fifteen-year period, empowering FCPS leadership's equitable modernization of facilities district-wide, and improving indoor air quality and lighting for students and teachers, while supporting the City of Fredericksburg's resolution to power 100% of municipal operations with renewable energy by 2035.
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TLRY | Hot Stocks08:19 EDT Tilray announces 'Wild West' lineup from CANACA brand - Tilray Brands announced the 'Wild West' lineup from Canadian cannabis brand, CANACA, at the Calgary Stampede, 'The Greatest Outdoor Show on Earth'. CANACA is hosting a western lounge featuring Stampede-inspired activations and limited-edition merchandise. Along with the 'Wild West' activation, consumers can check out CANACA's products available now in Calgary and nationwide across Canada: CANACA Indica 30 Infused Pre-Rolls; THC Distillate Vape Pen; Sour Diesel Flower; CANACA Blend 14; CANACA Blend 19.
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FRMUF | Hot Stocks08:17 EDT Firm Capital Property Trust announces normal course issuer bid - Firm Capital Property Trust announced that the Toronto Stock Exchange has accepted a notice filed by FCPT of its intention to make a normal course issuer bid with respect to its outstanding trust units. The notice provides that FCPT may, during the 12 month period commencing July 18, 2022 and ending no later than July 17, 2023, purchase through the facilities of the TSX and/or alternative Canadian Trading Systems up to 3,439,640 trust units in total, being 10% of the "public float" of trust units as of July 8, 2022. The price which FCPT will pay for any trust units will be the market price at the time of acquisition. During the period of this NCIB, FCPT may make purchases under the NCIB by means of open market transactions. The actual number of trust units which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of FCPT. The average daily trading volume from March 10 to June 30, 2022 was 32,255 trust units. Daily purchases under the NCIB will be generally limited to 8,064 trust units, other than block purchases. All trust units purchased by FCPT under the NCIB will be cancelled. As of July 8, 2022, there were 37,549,280 trust units of FCPT outstanding, and the public float was 34,396,409 trust units.
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GBT | Hot Stocks08:17 EDT Global Blood Therapeutics initiates EAP for voxelotor in Brazil - Global Blood Therapeutics announced the initiation of an expanded access program, EAP, for voxelotor in Brazil for the treatment of sickle cell disease, SCD, in adult and pediatric patients 12 years of age and older who cannot satisfactorily be treated with a medicine authorized for use in Brazil. ANVISA, the Brazilian Health Regulatory Agency, has authorized the voxelotor EAP, which is actively enrolling at clinical sites around the country. An expanded access program is a mechanism to make medicines available pre-approval upon request by a physician for eligible patients with no alternative treatment option. ANVISA's authorization of an EAP is based on the following criteria: The product is intended for patients with a serious, debilitating, and/or life-threatening disease; There is no satisfactory therapeutic alternative with products registered in Brazil; The authorization to use the product is delivered based on the request, and only under the responsibility of the prescribing physician, as it is expected to deliver a significant benefit to the patient. Under the voxelotor EAP, voxelotor will be supplied free of charge for as long as the patient requires treatment. This program is being implemented in partnership with and administered by Inceptua Group's Medicines Access division.
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RUBY NVS | Hot Stocks08:15 EDT Rubius Therapeutics appoints Schaffert to its board of directors - Rubius Therapeutics (RUBY) announced the appointment of Susanne Schaffert, Ph.D., to its board of directors. Dr. Schaffert brings more than 25 years of experience. Dr. Schaffert most recently served as President of Novartis Oncology (NVS). Also, Rubius announced that Anne Prener, M.D., Ph.D., is stepping down from her role on the board of directors, effective today.
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ILPT | Hot Stocks08:15 EDT Industrial Logistics Property Trust cuts quarterly distribution to 1c per share - Industrial Logistics Properties Trust announced that ILPT's board of trustees has reduced ILPT's regular quarterly cash distribution on its common shares for the second quarter to 1c per share. This dividend will be paid to ILPT's common shareholders of record as of the close of business on July 25 and distributed on or about August 18.
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KTTA | Hot Stocks08:14 EDT Pasithea Therapeutics awarded $694,000 drug development research grant - Pasithea Therapeutics announced the availability of a U.S. $694,000 drug development research award following the Company's acquisition of Alpha-5 integrin. The grant was awarded by FightMND, the largest independent funder of amyotrophic lateral sclerosis/motor neuron disease research in Australia. Pasithea is developing a monoclonal antibody for the treatment of ALS and other neuroinflammatory disorders. Currently, there is no cure for ALS, and there are no effective treatments to halt or slow the progression of the disease. "With the transfer of this grant, we will have a source of non-dilutive funds to test our monoclonal antibodies in the TDP-43 mouse model and progress the candidate toward the clinic. Ultimately, we aim to help ALS/MND patients who are in dire need of effective therapy," stated Dr. Tiago Reis Marques, CEO of Pasithea.
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PDSB | Hot Stocks08:14 EDT PDS Biotechnology presents universal flu vaccine preclinical data - PDS Biotechnology announced an upcoming poster presentation at the 41st annual meeting of the American Society of Virology meeting. The study demonstrated that the investigational universal flu vaccine was effective against multiple strains of the influenza virus. In this preclinical study, PDS0202, in which Infectimune is formulated with Computationally Optimized Broadly Reactive Antigens influenza antigens developed by the laboratory of renowned influenza expert, Dr. Ted Ross, was evaluated for its potential ability to provide effective and broad neutralization of multiple influenza strains as well as to provide protection against infection. Highlights include: Animals vaccinated with PDS0202 demonstrated significantly higher antibody titers against H1 and H3 influenza strains compared to animals vaccinated without Infectimune. All animals vaccinated with PDS0202 survived a lethal challenge with the H1N1 pandemic strain of influenza, compared to a ~40% survival rate in animals vaccinated with COBRA antigens only and a 0% survival rate in untreated animals. Infectimune allowed for significant dose-sparing with effective protection demonstrated using 25-fold lower doses of the COBRA antigens in animals. No detectable virus was found in lungs from animals treated with PDS0202, compared to the presence of high virus titers in lungs evaluated both from animals treated only with COBRA antigens and also in the untreated animals. The COBRA antigens elicit broadly reactive antibody responses to influenza, and Infectimune can promote antigen cross-presentation leading to higher immunogenicity with enhanced levels of antibody and T cell responses resulting in reduced doses of vaccine to protect against viral challenge in animals. The preclinical PDS0202 study was sponsored by the National Institute of Allergy and Infectious Diseases and was performed by Drs. Jerold Woodward at the University of Kentucky College of Medicine and Ted Ross at the University of Georgia. Dr. Ted Ross is Principal Investigator at the NIAID Collaborative Influenza Vaccine Innovation Center ;ocated at the University of Georgia. PDS Biotech has licensed the COBRA antigens from the University of Georgia to develop PDS0202.
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VERB | Hot Stocks08:13 EDT Verb Technology partners with LOVLEI to expand influencer partnership program - LOVLEI, a new premium resort and athletic wear lifestyle brand, has partnered with Verb Technology Company to manage and expand sales capabilities as a new player in the fashion industry. Utilizing VERB's customer relationship content management platform, verbCRM, LOVLEI ambassadors will have the capability to manage and distribute marketing content, create interactive video, improve customer retention, and track sales performance with real-time analytics. "We are incredibly excited to welcome LOVLEI to the global community with the help of our technology," said Rory Cutaia, VERB's Founder and CEO. "VERB's easy-to-use platform and sales enablement capabilities give influencers and ambassadors better management of their content, along with community support. VERB's technology, including interactive video, has been proven to increase customer engagement, drive sales and boost conversion rates."
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VVOS | Hot Stocks08:12 EDT Vivos Therapeutics gets multiple Class I clearances by from TGA of Australia - Vivos Therapeutics is pleased to announce that it has received multiple Class I clearances by the Therapeutic Goods Administration TGA of Australia, a Tier 1 regulatory body for multiple indications to include the treatment of snoring and obstructive sleep apnea or both adults and children for its series of oral appliances. "These recent clearances provide further validation to our technology and extend the scope of our international market," said Kirk Huntsman, co-founder and CEO of Vivos Therapeutics. "The Australian regulators recognized and accepted the clinical data we presented showing the clinical safety and efficacy of our technology regardless of age or the severity of the OSA. We are progressively moving forward with other domestic and international regulatory agencies with high expectations that our applications will be as well received as they have been in Australia. Poor sleep is a global epidemic. Vivos has developed a safe, comfortable, non-invasive, non-surgical solution, and we intend to offer it worldwide. We have already received clearances in the United States and Canada, and now, Australia will become part of our expanding international network. We will continue to grow and spread into other parts of the world."
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DZSI | Hot Stocks08:11 EDT DZS, Myakka to deliver 'Broadband to the Boonies' to southwest Florida - DZS announced the ongoing success of its mission to bridge the digital divide by way of a longstanding partnership with Myakka Communications to deliver "Broadband to the Boonies" to southwest Florida. Myakka Communications has used DZS Passive Optical Network broadband connectivity solutions exclusively since they first began deploying fiber infrastructure. This currently includes massively scalable and non-blocking DZS Velocity Intelligent Terabit Access Concentrators and DZS Helix Optical Network Terminals and WiFi gateways. "As a U.S.-based company with manufacturing operations only an hour's drive away, DZS is especially proud to support the Myakka Communications team, a locally owned business that has overcome significant challenges to bring gigabit-class, 100% fiber optic services to a rural area that large providers aren't serving," said Andrew Finkelstein, Senior Vice President, North America Sales, DZS. "We at DZS are excited about what the future holds for our relationship with Myakka Communications as we enable not just broadband but 'the metaverse to the boonies' of central Florida and across the country."
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ALVO | Hot Stocks08:10 EDT Alvotech announces expansion of board of directors - Alvotech announced the expansion of its board of directors as part of its transition from a private to a publicly traded company. The four incoming board members, Lisa Graver, Arni Hardarson, Linda McGoldrick and Ann Merchant joined Robert Wessman, founder and Executive Chairman, Richard Davies, Tomas Ekman and Faysal Kalmoua. Ms. Merchant, Ms. McGoldrick, and Mr. Davies serve as independent directors of the board. Linda McGoldrick serves as Chairman of Alvotech's Board of Directors' Audit Committee. She founded and currently serves as Chairman and CEO of Financial Health Associates International and is the CEO of 2EnableHealth. Lisa Graver has served in various leadership positions at Alvogen since June 2010, including as CEO of Alvogen U.S. since August 2015. Arni Hardarson is a partner in Aztiq and served as General Counsel and Deputy CEO of Alvogen and has been part of Alvogen's executive team since 2009. Ann Merchant has served as VP for MorphoSys since 2018 and Head of Global Supply Chain since January 2019.
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VMEO | Hot Stocks08:08 EDT Vimeo appoints Girotto as CMO, Alkarmi as CPO - Vimeo announced the appointments of Lynn Girotto as Chief Marketing Officer, CMO, and Ashraf Alkarmi as Chief Product Officer, CPO, effective immediately. Both executives bring decades of experience across leading B2B and B2C companies, and mark the most recent additions to Vimeo's leadership team; other recent appointees include Gillian Munson as Chief Financial Officer, Eric Cox as Chief Revenue Officer, and Crystal Boysen as Chief People Officer. In her role at Vimeo, Girotto will report to CEO Anjali Sud and will oversee the company's marketing engine to accelerate its growth in the enterprise and increase brand awareness as a video software company. Reporting to Vimeo President Mark Kornfilt, Alkarmi will lead the product team to unlock video as a mission-critical tool at work.
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GENE | Hot Stocks08:07 EDT Genetic Technologies completes AffinityDNA acquisition - Genetic Technologies announced that it has completed the acquisition of the direct-to-consumer eCommerce business and distribution rights associated with AffinityDNA as announced on May 16, 2022. Acquisition Highlights: Strategic acquisition strengthens the direct-to-consumer channel for GENE, building on the incremental EasyDNA expansion opportunities recently announced. Provides additional platform for growth in the multibillion-dollar consumer genomics market, leveraging AffinityDNA's well-established marketplace worldwide, including in the US, UK, and Europe. The three brands, geneType, EasyDNA and AffinityDNA now anchor revenues for GENE with the most comprehensive portfolio of testing available for individuals and animals including Non-Invasive Prenatal Testing, Carrier screen testing, Monogenic diseases and pet care. This acquisition now expands GENE's portfolio of tests to 51 tests in 14 categories across more than 40 countries. Currently Affinity sells a wide range of DNA tests including lifestyle, health and wellbeing genomics-based tests, as well as animal testing relating to allergies and tolerances via online marketplaces including Amazon. Under the terms of the agreement, GENE has acquired all AffinityDNA's assets including websites, brand identities, laboratory testing and distribution agreements consistent with the Company's announcement on May 16, 2022. GENE have started onboarding the existing team, retaining the skills and expertise of AffinityDNA's employees based in the UK. This includes the retention of key management in a consulting role. No changes will be made to the GENE board and key management personnel.
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TFFP | Hot Stocks08:06 EDT TFF Pharmaceuticals expands R&D operations with new Austin facility - TFF Pharmaceuticals announced a significant expansion of its R&D operations through the lease of a new research and development facility located in Austin, Texas. The new facility of over 3,500 square feet significantly increases TFF's total lab space, adding a dedicated lab for downstream processing of products created via Thin Film Freezing, which will complement the company's existing formulation development capabilities. As TFF expands its in-house and partnered research, including applications in biologics, the additional laboratory space will also provide significantly more real estate to accommodate larger equipment to facilitate scale-up and manufacturing, as well as to produce supplies for preclinical studies. The new space will be supervised by Donald Owens, Ph.D., Director of Product Development at TFF, and supported by John Koleng, Ph.D., R.Ph., Vice President of Product Development and Manufacturing. The company also plans to expand the product development team in Austin, which will be based at the new facility, to support the growing number of partnered projects.
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BRAG RSI | Hot Stocks08:06 EDT Bragg Gaming to roll out online content with Rush Street Interactive in Ontario - Bragg Gaming (BRAG) announced that the company is now live with its online gaming content with Rush Street Interactive (RSI) in Ontario. Representing the first North American dual deployment of Bragg's Remote Games Server technology from both its Oryx Gaming and Spin Games divisions via a single integration, five exclusive online titles, including the Egyptian Magic game from the company's proprietary Atomic Slot Lab studio, are now available for players at RSI's BetRivers.ca brand. Further Bragg exclusive titles from proprietary and partner studios, in an initial batch of 22 games certified for the Ontario market, are expected to be rolled out in the coming months.
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NSPR | Hot Stocks08:05 EDT InspireMD announces appointment of Parodi as strategic advisor to the company - InspireMD announced the appointment of Dr. Juan Parodi as a strategic advisor to the Company. Marvin Slosman, Chief Executive Officer of InspireMD, commented, "Dr. Parodi's world renowned achievements in the field of vascular surgery are remarkable, including having performed the first ever endovascular repair procedure in 1990. He also performed the first carotid TCAR procedure in 1994, utilizing reverse flow for cerebral protection. Dr. Parodi offers our company incredible experience, unique perspective and guidance as we build new solutions to advance stroke prevention and long-term patient outcomes, across the broadest range of vascular specialists and device options."
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ORCL | Hot Stocks08:04 EDT Oracle and Claro partner for cloud services in Colombia - Oracle and Claro announced a partnership to jointly offer Oracle Cloud Infrastructure services to public and private sector organizations and enterprises in Colombia. Claro will become the host partner for an Oracle Cloud region in Colombia, which will enable Claro to offer OCI platform services along with professional and managed services to help customers adopt cloud solutions. In addition, to help improve its customer service and billings processes, Claro will migrate over 100 on-premises servers running mission-critical workloads to OCI.
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COCP | Hot Stocks08:03 EDT Cocrystal Pharma reports CC-42344 PK data in influenza A once-daily dosing - Cocrystal Pharma announces that pharmacokinetic, PK, data from the single ascending dose portion of a Phase 1 study with its novel, broad-spectrum, orally administered antiviral candidate CC-42344 for the treatment of pandemic and seasonal influenza A support the potential for once-daily dosing. The single ascending dose portion of the Phase 1 study has been completed and subjects are currently being enrolled in the multiple ascending dose portion of the Phase 1 study. "The PK data from single ascending dose portion of the trial mark a major milestone in the development of CC-42344's as our drug holds potential to be administered once a day, less frequently than the leading influenza treatment Tamiflu," said Sam Lee, Ph.D., Cocrystal's President and co-interim CEO. "Unlike the mechanism of action of existing influenza A treatments, CC-42344 is a PB2 inhibitor that blocks an essential step of influenza viral replication and transcription. Completed in vitro testing demonstrated potent antiviral activity against prevalent influenza A strains resistant to the two approved influenza treatments Tamiflu and Xofluza."The randomized, double-controlled, dose-escalating Phase 1 study being conducted in Australia is intended to assess the safety, tolerability and pharmacokinetics of CC-42344 in healthy adults.
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ALK MSFT | Hot Stocks08:02 EDT Twelve, Alaska Air, Microsoft to partner on sustainable aviation fuels - Carbon transformation company Twelve, Alaska Air Group (ALK), and Microsoft (MSFT) have signed a Memorandum of Understanding to collaborate on advancing the market for sustainable aviation fuels to include fuels derived from recaptured CO2 and renewable energy, and working toward the first commercial demonstration flight in the United States powered by Twelve's E-Jet. Through the first-of-its-kind agreement, Twelve, Alaska, and Microsoft will work to advance production and use of Twelve's E-Jet, a low carbon jet fuel produced by a power-to-liquids process leveraging the company's carbon transformation technology, which uses only renewable energy, water, and CO2 as inputs to transform CO2 into a variety of critical chemicals and materials conventionally made from fossil fuels. As part of the work outlined to advance the scalability and use of the technology, the companies will work toward a demonstration flight using E-Jet, and to supply the fuel to address some of Microsoft's business travel on Alaska.
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BKYI | Hot Stocks08:02 EDT BIO-key to showcase PortalGuard IAM at NACo Annual Conference - BIO-key International announced that it will sponsor and exhibit at the National Association of Counties Annual Conference at the Gaylord Rockies Resort and Convention Center in Aurora, Colorado, July 20-24th. BIO-key will meet with customer prospects and host Q&A sessions, and live demonstrations of their award-winning PortalGuard IAM platform at Booth 507. BIO-key's VP of Product, Kimberly Biddings, will be a featured expert panelist in "A Crash Course in Marketing - Communicating About Cybersecurity Across Your County" during NACo's CIO Forum on Wednesday, July 20th.
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STRN | Hot Stocks08:02 EDT Stran & Company signs definitive agreement to acquire Trend brand Solutions - Stran & Company announced the signing of a definitive asset purchase agreement relating to the acquisition of the assets and business of Trend Brand Solutions. The agreement contemplates the retention of all Trend employees and Michael Krauser, Chief Executive Officer of Trend, will become Stran's Regional Vice President, leading Stran's Texas region operations. The acquisition is expected to close in the third quarter of 2022. "We are excited to acquire Trend, as they bring an established platform and customer base," commented Andy Shape, President and Chief Executive Officer of Stran. "This agreement to acquire Trend illustrates our commitment to growth through meaningful and complementary acquisitions. Trend is a perfect fit for Stran as it broadens our presence within the South, especially within the Houston area, which is home to two dozen Fortune 500 companies and ranks third among metro areas in Fortune 500 headquarters locations.1 Given Mike's demonstrated track record, along with his team, we are excited to welcome them to the Stran family and look forward to building on Stran and Trend's histories of success in the market."
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MDT | Hot Stocks08:02 EDT Medtronic receives FDA clearance for UNiD Spine Analyzer - Medtronic has received FDA 510(k) clearance for its UNiD Spine Analyzer v4.0 planning platform, which includes a new Degen Algorithm for degenerative spine procedures. The algorithm leverages machine learning to help surgeons plan and personalize procedures for patients undergoing lower lumbar spine surgery and predicts spinal compensation mechanisms six months after the operation. The UNiD ASI Degen Algorithm aims to help surgeons achieve spinal alignment by more accurately planning procedures and predicting spinal alignment after six months.
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AZ | Hot Stocks07:59 EDT A2Z Smart Technologies expands existing credit line with Acromatis - A2Z Smart Technologies announced that it has expanded its existing line of credit with Acromatis, a manufacturing partner for the Company's Cust2Mate Smart Carts. The expanded credit line will enable the manufacturing of an additional 5,000 of the Company's Generation 2.5 and Generation 2.8 Smart Carts without effecting the Company's working capital. The aggregate amount of the credit line will be up to $17M. Pursuant to the terms of the credit line, Cust2Mate will pay Acromitis 20% of the manufacturing cost as a down payment. The remaining balance will be paid upon receipt of payment from the customer.
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CFG | Hot Stocks07:44 EDT Citizens Financial to purchase select assets, liabilities of Paladin Advisors, - Citizens Financial Group announced a definitive agreement to purchase select assets and liabilities of Paladin Advisors, an independent, registered investment advisor headquartered in Kensington, New Hampshire. This acquisition strengthens Citizens' presence in an important geography, while bringing additional investment capabilities to the Clarfeld Citizens Private Wealth team. "This acquisition will strengthen our wealth management business, as we gain additional reach and Paladin's fresh asset allocation investment strategy, which complements our established approach," said Chris Weyrauch, Head of Citizens Wealth Management. "We're excited to welcome such a talented team and have them join our well-regarded, fast growing wealth management platform." The transaction is expected to close in the third quarter of 2022, subject to customary closing terms and conditions. Upon closing, Paladin Advisors will become part of Clarfeld Citizens Private Wealth.
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BKSY | Hot Stocks07:41 EDT BlackSky receives a $4.4M award from IARPA to support 2nd phase of SMART Program - BlackSky Technology received a $4.4M award from the Intelligence Advanced Research Projects Activity, IARPA, to support the second phase of the multi-year Space-based Machine Automated Recognition Technique or SMART Program. "The MLOps framework will extend BlackSky's Spectra AI tasking and analytics capabilities and accelerate the development of SMART technologies that make quick sense of the immense volume and complexity of space-based image data," O'Neil added. BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events on Earth.
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CAG | Hot Stocks07:37 EDT Conagra Brands reports Q4 adjusted operating margin 15%, up 96 bps - In Q4: Operating margin decreased 310 basis points to 7.4%; adjusted operating margin increased 96 basis points to 15.0%.
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THTX | Hot Stocks07:37 EDT Theratechnologies sees funds sufficient to fund operations for next 12 months - The company said, "We ended the second quarter of fiscal 2022 with $32,491,000 in cash, bonds and money market funds. The Company believes that its cash position and future operating cash flows will be sufficient to finance its operations and capital needs for at least the next 12 months from the consolidated statement of financial position date. Furthermore, subsequent to May 31, 2022, the Company secured a new financing."
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NTRA UNH | Hot Stocks07:37 EDT Natera selected for UnitedHealthcare's Preferred Laboratory Network - Natera (NTRA) has been selected to participate in UnitedHealthcare's (UHN) Preferred Laboratory Network. Natera's addition to the network was effective July 1. UnitedHealthcare's PLN consists of laboratory care providers that have met the insurer's highest standards for access, cost, data, quality and service, based on an application and review process. UnitedHealthcare works with these labs to continue its efforts to improve the care providers and members' experience.
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CAG | Hot Stocks07:34 EDT Conagra Brands expects COGS inflation to continue into FY23 - The company expects cost of goods sold inflation to continue into fiscal 2023 and has communicated additional pricing increases that will take effect in the second quarter of FY23. Guidance anticipates gross inflation in low-teen levels. Guidance also assumes volume elasticities increase from fiscal 2022 levels but remain below historical levels. The company does not expect the elevated performance that its joint venture, Ardent Mills, delivered in the back half of fiscal 2022 to continue throughout fiscal 2023.
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PPBT | Hot Stocks07:33 EDT Purple Biotech CEO Isaac Israel to step down from role, Efron to assume role - Purple Biotech announced that following the decision by Isaac Israel, former Chief Executive Officer to step down from his CEO role and reduce the scope of his engagement with the Company for personal reasons, effective July 10, 2022, Gil Efron, will assume the role of Chief Executive Officer. Isaac Israel will continue his involvement in the Company as an advisor and as a member of the Board of Directors. Gil Efron has served as President and CFO of Purple Biotech since June 2021.
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FSV | Hot Stocks07:31 EDT FirstService appoints Carducci to its board of directors - FirstService announced the appointment of Elizabeth Carducci to its Board of Directors. The addition of Carducci expands the Board to nine directors, eight of whom are independent directors. Carducci is currently an advisor and investor in early stage companies, having recently retired from a 21-year career at Medallia.
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GMSQF | Hot Stocks07:25 EDT Gamesquare Esports CEO purchases 405,000 common shares - GameSquare Esports announced that Justin Kenna, CEO of GameSquare, acquired 405,000 common shares of GameSquare in the open market between June 1 and June 29 at an average price of $0.10. Management's purchases reflect confidence in the intrinsic value of GameSquare stock, near-term and long-term growth prospects, and the outstanding work being done by people that work within the Company at Code Red, Complexity Gaming, Cut+Sew, GCN, Fourth Frame Studios. The Company recently announced Q1 2022 financial results, including revenue of $5M and a gross margin of 32.6%. GameSquare also increased its 2022 revenue guidance range to $23.5M to $25M from its prior guidance of $21.5M. As further evidence of the continued progress and organic growth, on June 26, 2022, the Company announced signing of a significant contract with a new customer which is expected to contribute more than $2.5M of revenue in Q3 and Q4 2022. "We are seeing tremendous opportunities within esports, gaming, sports and entertainment as brands seek to reach gaming and esports fans resulting in increased sales activity across GameSquare's media and esports companies," said Justin Kenna. "Activity within the esports and gaming market remains high and we are successfully converting our growing pipeline into recognizable revenue. Our portfolio of companies is showing leadership within esports, and we are making great progress as we execute on our growth strategy with a view to achieving profitability."
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GDBYF | Hot Stocks07:23 EDT Goodbody Health announces Annual General, Special Meeting of Shareholders - Goodbody Health announces that further to its news release dated June 10, 2022, the Company has mailed its proxy materials, with instructions on how to attend and vote, to its shareholders of record as of July 5, 2022 for its annual general and special meeting to be held on August 9, 2022 at 9 am at The Blue Building, Stubbs Lane, Beckington, Frome, BA11 6TE, United Kingdom. The information circular dated July 8, 2022, forming part of the proxy materials, sets out full details of the Company's intention to de-list from the Canadian Securities Exchange and to re-domicile the Company from the Province of British Columbia to Guernsey, subject to shareholder approval. Goodbody intends to retain its quote on the AQSE Growth Market in London and the OTCQB quote in the United States. Further announcements regarding the post-Continuation trading arrangements on the AQSE Growth Market will be made in due course. Prior to the Continuation and the De-Listing, the Company intends to consolidate all of its issued and outstanding common shares on the basis of ten pre-consolidation shares for one post-consolidated share. The Company currently has 364,962,152 common shares issued and outstanding. Following completion of the Consolidation, the Company would have approximately 36,496,215 common shares issued and outstanding. The Company will also consolidate all warrants and Options to the same ratio. The Company currently has 36,603,461 options issued and outstanding. Following completion of the Consolidation, the Company would have approximately 3,660,346 options issued and outstanding. The Company currently has 49,317,379 warrants issued and outstanding. Following completion of the Consolidation, the Company would have approximately 4,931,737 warrants issued and outstanding. Any fractional common shares resulting from the Consolidation would be rounded to the nearest whole common share, with any fraction of 0.5 or above rounded up and any fraction of less than 0.5 rounded down. Pursuant to the Company's current articles, the Company's board of directors can authorize the Consolidation by directors' resolutions. The Consolidation is subject to Canadian Securities Exchange approval.
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RKUNY | Hot Stocks07:18 EDT Xeno Holdings enters partnership with Rakuten Sports - Xeno Holdings has partnered with Rakuten Sports. The partnership between the two companies will involve Rakuten Sports providing strategic consulting and business development support to explore global implementation of NFT-based blockchain ticketing in both sports and entertainment industries, along with the onboarding of star athletes and derivative content to the metaverse via 3D motion graphics, minting of PFP NFTs for the stars, and POAP issuance for the associated fandom communities and events thereof.
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POAHY VWAGY | Hot Stocks07:16 EDT Porsche Cars Canada appoints John Cappella as president, CEO - Porsche Cars Canada announced the appointment of John Cappella as its new President and CEO effective September 1, 2022. He succeeds Marc Ouayoun who has been at the helm of the Canadian subsidiary since January 2018. Marc Ouayoun will soon take over a new position in the Volkswagen Group. As the subsidiary's next President and CEO, Mr. Cappella brings extensive automotive business management experience to lead Porsche's continued growth in Canada. He comes back to his home country following a period of three years as Vice President, Area East, for Porsche Cars North America
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SNGX | Hot Stocks07:14 EDT SERB Pharmaceuticals licenses antigen from Soligenix - SERB Pharmaceuticals has signed a worldwide exclusive license to use an antigen from Soligenix to develop a novel therapeutic treatment for ricin poisoning. To develop the ricin antidote, SERB will leverage its unique broad spectrum polyclonal antibody platform, gained in its acquisition of BTG Specialty Pharmaceuticals. This specialized manufacturing process generates binding fragments from antibodies that are specific to a given antigen, helping to ensure potency and purity. This platform is currently used to manufacture two of the company's currently marketed products, CroFab and DigiFab. The antibodies will be generated using a modified form of the ricin toxin, developed by Soligenix. The modifications have removed the biological activity of the protein so that it is not toxic, while still retaining its shape to trigger an effective antibody response. SERB will conduct studies to assess the efficacy and safety of the product with initial results expected by the end of 2022. The company is scheduled to discuss the development pathway with the FDA and EMA in the coming months, which will determine the overall development timeline.
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RMCF | Hot Stocks07:12 EDT AB Value-Radoff files proxy, issues, letter to Rocky Mountain shareholders - AB Value Management and Bradley L. Radoff who own approximately 17.6% of the outstanding shares of Rocky Mountain Chocolate Factory announced that they have filed a definitive proxy statement with the U.S. Securities and Exchange Commission and mailed the proxy statement and a BLUE proxy card to Rocky Mountain stockholders in connection with the Company's 2022 Annual Meeting of Stockholders scheduled for August 18. "The AB Value-Radoff Group has nominated two highly qualified and independent candidates - Mary Bradley and Correne Loeffler - for election to the Board of Directors at the Annual Meeting. Ms. Bradley and Ms. Loeffler collectively possess considerable experience in franchising, chocolate retail operations, finance and other areas of relevance to Rocky Mountain. In addition, the AB Value-Radoff Group issued the following letter: The AB Value-Radoff Group holds approximately 17.6% of Rocky Mountain, signaling our strong alignment with you and all of the Company's stakeholders. We firmly believe Rocky Mountain can fulfill its potential as a beloved brand and create significant stockholder value over the long-term if it has the benefit of a diverse, experienced and high-integrity Board. That is why we have spent more than a year engaging in good faith with the Company's current leadership and pursuing further director refreshment. Unfortunately, Rocky Mountain has been unwilling to collaborate with us on a viable Board refresh that can address our concerns and advance all stakeholders' interests. This intransigence is particularly disturbing when one considers that the Company's total shareholder returns are negative over practically every relevant time horizon. In light of these facts, we feel compelled to proceed with a campaign to replace two incumbent directors - including Chair Jeffrey R. Geygan - with two highly qualified and independent female directors. Our candidates - Mary Bradley and Correne Loeffler - possess fresh perspectives and valuable experience in the areas of franchise and retail operations, public company leadership and finance. We urge all of the Company's stockholders to vote on the BLUE proxy card to elect our slate and ignite a turnaround following years of dismal performance and subpar governance. If you have already voted Rocky Mountain's white proxy card or had your vote taken over the telephone by the Company's proxy solicitor, you have every right to change your vote by voting a later-dated BLUE proxy card. Only your latest-dated vote counts."
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LIACF | Hot Stocks07:12 EDT American Lithium provides update on Tonopah Lithium Claims project - American Lithium provides an update of initial diamond drill results from the program currently underway at the Tonopah Lithium Claims project located northwest of Tonopah, Nevada. This diamond drill program is focused on expanding the existing large-scale near surface TLC resource. The large drill program launched in February 2022. Simon Clarke, CEO of American Lithium states, "We are very pleased that these results continue to expand the drilled resource footprint with higher grades and consistently thicker mineralization than the existing TLC resource. Our main focus for the diamond drilling has been to expand and high grade our existing resource and these results successfully achieve both objectives. This will enable us to better position starter pits under our mining plan to initially focus on higher grade sections of the resource thereby maximizing Project returns. We are also looking forward to updating the mineral resource estimate for TLC in conjunction with finalizing our maiden PEA."
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ABSI... | Hot Stocks07:11 EDT Absci hires Dettore as Chief People Officer, Gold as Chief Marketing Officer - Absci Corporation (ABSI) announced two senior executive hires in newly created roles as it prepares for its next stage of growth. Denise Dettore joins as Chief People Officer and Jack Gold becomes Chief Marketing Officer. Dettore joins Absci with 26 years of experience in Human Resources in Silicon Valley. For the past 16 years she has been working in the biotech industry, spending time at Genentech, Jazz Pharmaceuticals (JAZZ) and BeiGene (BGNE). Gold joins as Chief Marketing Officer to build and lead Absci's marketing team and efforts. Gold was previously Chief Marketing Officer at Zymergen (ZY).
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GLOP | Hot Stocks07:09 EDT GasLog Partners announces availability of 2021 Sustainability Report - GasLog Partners announced the availability of the Partnership's 2021 Sustainability Report. The Sustainability Report, which can be accessed on the Partnership's website, has been compiled in general compliance with the Sustainability Accounting Standards Board Marine Transportation standard. In the Report, GasLog Partners summarizes progress delivered around the focus areas of decarbonization, safety and wellbeing, and diversity, equity and inclusion, among other areas.
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OSUR | Hot Stocks07:08 EDT OraSure launches OMNIgene GUT DNA, RNA product - OraSure Technologies announced that its OMNIgene GUT DNA and RNA product, OMR-205, is now available to gut microbiome researchers. The product allows for self-collection, stabilization, storage and transportation of both microbial DNA and RNA at ambient temperature for gut microbiome profiling. It is made by OraSure's subsidiary DNA Genotek.
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FTAI GCMG | Hot Stocks07:08 EDT Newlight, Long Ridge to build Aircarbon production facility in Ohio - Newlight Technologies and Long Ridge Energy Terminal, which is jointly owned by a subsidiary of Fortress Transportation and Infrastructure Investors (FTAI) and an affiliate managed by GCM Grosvenor (GCMG), announced that the parties and their related entities have entered into various agreements providing for the construction and operation of a new facility in Ohio, Aircarbon-Ohio, to produce Aircarbon, a naturally-occurring molecule called PHB that replaces plastic but is carbon-negative and biologically degrades in natural environments. Long Ridge and certain of its subsidiaries entered into certain agreements with Newlight, whereby Long Ridge will lease land and sell power and gas to Newlight. In addition, a subsidiary of FTAI has agreed to invest 25% of the project costs, or up to $75M, subject to certain conditions, to participate in the economic returns associated with the project. Through a separate agreement between Newlight and Pittsburgh-based CNX Resources Corp., CNX will gather and process captured methane from third party industrial activity that would typically be vented to atmosphere and deliver to Newlight the environmental rights associated with that methane, sourced locally from the Appalachian basin, to support production of Aircarbon at the Ohio facility, similar to how solar and wind is delivered contractually through new and existing grid infrastructure.
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GTBIF | Hot Stocks07:08 EDT Green Thumb announces exercise of extended maturity date of senior debt facility - Green Thumb Industries announced it has exercised its right to extend the maturity date of its senior non-brokered debt by one year, from April 30, 2024 to April 30, 2025. The current senior secured notes, which have a total principal amount of approximately $250 million, bear interest at a rate of 7% per annum and is paid quarterly. The extended maturity date did not involve any amendments to the Notes or any additional consideration to the existing lenders.
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BBIG | Hot Stocks07:07 EDT Vinco Ventures appoints Farnsworth as co-CEO - Vinco Ventures announced the appointment of Ted Farnsworth as co-Chief Executive Officer, co-CEO, alongside Lisa King, current CEO of Vinco Ventures, effective June 8, 2022. Farnsworth and King will lead the Company as co-CEOs. "As Co-Founder and Chairman of ZASH Global Media and Entertainment, Mr. Farnsworth was instrumental, along with Vinco and ZVV Media Partners, in acquiring Lomotif and AdRizer, and has proven leadership and experience in the media industry," the company said.
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GLOG | Hot Stocks07:06 EDT GasLog announces availability of 2021 Sustainability Report - GasLog announced the availability of the Company's 2021 Sustainability Report. The Sustainability Report, which can be accessed on the Company's website, has been compiled in general compliance with the Sustainability Accounting Standards Board Marine Transportation standard. In the Report, GasLog summarizes progress delivered around the focus areas of decarbonization, safety and wellbeing, and diversity, equity and inclusion, among other areas.
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MQ | Hot Stocks07:06 EDT Marqeta announces Simon Khalaf as Chief Product Officer - Marqeta announced the addition of Simon Khalaf as its new Chief Product Officer and key member of its executive team. Previously, Khalaf was the Senior Vice President of Twilio's core products, including Messaging, Voice, Video and Flex, Twilio's fully programmable Contact Center. Simon will be responsible for the strategic direction, development and delivery of Marqeta's products to its growing customer base. "Simon is a deeply experienced product leader with a proven track record of building and scaling high-growth products and developer-focused platforms," said Jason Gardner, Founder and CEO at Marqeta. "Simon has demonstrated his ability to lead diverse, global teams and he will be an integral member of our leadership team as we further invest in our product capabilities and ability to power new modes of money movement at scale."
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MOD | Hot Stocks07:06 EDT Modine Manufacturing partners with Texas AirSystems for Airedale product line - Modine Manufacturing is partnering with Texas AirSystems, an independent representative for commercial HVAC manufacturers, to expand access to the Airedale product line. Airedale by Modine will be represented by Texas AirSystems in the Texas market while providing an array of HVAC solutions to potential clients. The Airedale product line offers solutions ranging from the ClassMate DX Cooling and Heat Pump to the Sentinel Vertical Unit Ventilator.
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VRNOF | Hot Stocks07:05 EDT Verano Holdings announces opening of Zen Leaf Wheeling - Verano Holdings announced the opening of Zen Leaf Wheeling, the Company's third West Virginia dispensary and 105th location nationwide, which will follow a celebratory ribbon cutting shortly before opening for business on Friday, July 15 at 11:00 a.m. local time. Zen Leaf Wheeling, located at 231 Warwood Ave, will be open Wednesday through Saturday from 11:00 a.m. to 7:00 p.m. and 10:00 a.m. to 4:00 p.m. on Sunday, local time.
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GILT | Hot Stocks07:05 EDT Gilat Satellite awarded order of over $7M from Tier-1 mobile network carrier - Gilat Satellite Networks announced it received an order in excess of $7M from a Tier-1 mobile network carrier in the Asia Pacific, APAC, region for 4G cellular backhaul network expansion. "By enabling rapid and cost-effective network expansion, Gilat is helping this innovative mobile carrier to serve a growing base of customers and establish an enviable position in the industry," said Michal Aharonov, Chief Commercial Officer at Gilat. "This follow-on order represents an important vote of confidence and another testament to the quality and effectiveness of our cellular backhaul over satellite solution."
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AOTVF | Hot Stocks07:05 EDT Ascot Resources announces assay results at Premier Gold Project - Ascot Resources announced the first batch of assay results from the 2022 exploration drill program at the Company's Premier Gold Project, located on Nisga'a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. These results are from surface exploration drilling at the emerging Sebakwe Zone near the past-producing Premier mill, and with assays of up to 193 g/t gold, continue to highlight the high-grade tenor of the Sebakwe Zone. Highlights from the drill results include: 193.00 g/t Au and 41.8 g/t Ag over 1.0m from a depth of 315m in hole P22-2393; 17.78 g/t Au and 20.1 g/t Ag over 3.0m from a depth of 366m in hole P22-2393, including 51.00 g/t Au and 54.6 g/t Ag over 1.0m; 4.77 g/t Au and 18.2 g/t Ag over 4.5m from a depth of 331m in hole P22-2393, including 12.10 g/t Au and 34.5 g/t Ag over 1.6m; 25.90 g/t Au and 21.0 g/t Ag over 1.0m from a depth of 413m in hole P22-2389. This release summarizes the results from six surface drill holes totaling 2,477 metres at the emerging Sebakwe Zone, approximately 600 metres east of the Premier mill building. After drilling two holes in 2021 on this zone, one of which intercepted 36.17 g/t gold over 7.1 metres, the Company had initially planned on drilling 10 new holes totaling approximately 4,000 metres as a part of the 2022 exploration drilling program. As drilling progressed, based on encouraging visual indications of mineralization and structure, the drill program was increased to 15 holes totaling 6,091 metres at the Sebakwe Zone. Derek White, President and CEO of Ascot commented, "The Sebakwe Zone continues to impress with its high-grade pedigree and growth potential. Hole P22-2393 intercepted 193 g/t gold over 1.0m, representing the highest-grade drilled by Ascot in recent years. In such a short timeframe, Ascot has now defined visual mineralization at the Sebakwe Zone in multiple parallel vein structures over a strike extent of 70 metres and a vertical extent of 120 metres. Given its proximity to the Premier mill and planned underground mine development, Sebakwe is a compelling target for low-cost, accretive resource growth. The geometrical similarities to the Premier and Northern Light deposits adjacent to the south are so far reaffirming our hypothesis that the Sebakwe Zone is a third parallel mineralized structure."
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MRNS | Hot Stocks07:05 EDT Marinus Pharmaceuticals sells Rare Pediatric Disease PRV for $110M - Marinus Pharmaceuticals announced that it has entered into a definitive agreement to sell its Rare Pediatric Disease Priority Review Voucher, PRV, for $110M. "Upon completion, the sale of the PRV will significantly strengthen Marinus' financial position, which we believe extends our cash runway into the fourth quarter of 2023," said Steven Pfanstiel, Chief Financial Officer of Marinus. "Importantly, this non-dilutive funding will allow us to maintain momentum advancing our clinical pipeline, including the two ongoing Phase 3 trials in status epilepticus and tuberous sclerosis complex, and focus on the commercial launch of ZTALMY." Marinus received the voucher in March 2022 under a U.S. Food and Drug Administration program intended to encourage the development of treatments for rare pediatric diseases. Marinus was awarded the voucher when it received approval of ZTALMY, ganaxolone, oral suspension CV for the treatment of seizures associated with CDKL5 deficiency disorder, a rare form of genetic epilepsy, in patients two years of age and older. Marinus will receive a lump sum payment of $110M upon the closing of the transaction, which is subject to customary closing conditions and is expected to occur following the expiration of the applicable U.S. antitrust clearance requirements.
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LTRN | Hot Stocks07:05 EDT Lantern Pharma announces FDA clearance to initiate LP-300 trial - Lantern Pharma announced that the FDA has cleared the company to proceed with its Phase 2 clinical trial, Harmonic, for its investigational new drug LP-300. The Harmonic trial will be a 90 patient, multi-center, two arm, open-label, and randomized clinical trial evaluating LP-300 in combination with chemotherapy for never smoker patients with advanced non-small cell lung cancer.
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CLNN | Hot Stocks07:04 EDT Clene reports results from its RESUCE-ALS long-term open label extension trial - Clene and its wholly owned subsidiary Clene Nanomedicine reported significantly improved survival in ALS patients initially treated with CNM-Au8 compared to initially randomized placebo treated participants during the long-term open-label extension of its RESCUE-ALS trial. Study participants in RESCUE-ALS were randomized 1:1 to receive 30 mg of CNM-Au8 or placebo daily for 36 weeks during the double-blind portion of the study, followed by an open-label period that extended treatment up to 130 weeks from randomization. Survival was compared by treatment group from randomization through the latest vital status observation with a cut-off as of July 5, 2022, for this interim analysis. Survival data were obtained for 43 of 45 study participants, and one participant in each group was lost to follow-up. There were five deaths in the group originally randomized to CNM-Au8 and 14 deaths in the group originally randomized to receive placebo. Median survival from randomization for the CNM-Au8 group was undefined due to insufficient mortality events, and median survival for the placebo group was 23.1 months. Unadjusted Kaplan-Meier survival analyses demonstrated a significant survival benefit with participants initially randomized to CNM-Au8 treatment versus those initially randomized to placebo, resulting in a 70% decreased risk of death. Sensitivity analyses substituting death in place of lost to follow-up censoring resulted in concordant findings. The treatment was well-tolerated, and there were no significant safety findings reported during the long-term open label trial period.
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GOLD | Hot Stocks07:04 EDT Barrick Gold remains on track to achieve 2022 gold, copper guidance
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GOLD | Hot Stocks07:03 EDT Barrick reports preliminary Q2 production of 1.04M oz gold, 120M lbs. copper - Barrick Gold reported preliminary Q2 sales of 1.04 million ounces of gold and 113 million pounds of copper, as well as preliminary Q2 production of 1.04 million ounces of gold and 120 million pounds of copper. As previously guided, Barrick's gold production in 2022 is expected to increase through the year, and with the stronger Q2 performance, it remains on track to achieve 2022 gold and copper guidance. The average market price for gold in Q2 was $1,871 per ounce. The average market price for copper in Q2 was $4.32 per pound, however the closing price at the end of Q2 was $3.83 per pound. The Company's second quarter realized copper price is expected to be 13-15% below the average second quarter market price for copper, primarily as a result of provisional pricing adjustments that reflect the decrease in the copper price near the end of Q2. As expected, preliminary Q2 gold production was higher than Q1 due to a stronger performance across the portfolio, particularly at Carlin, Turquoise Ridge, Veladero, Bulyanhulu and North Mara. This was partially offset by lower production at Cortez due to mine sequencing as it transitions from the end of open pit mining at Pipeline to a new phase at Crossroads, which is expected to underpin stronger performance for the asset in the fourth quarter of 2022. Compared to Q1, Q2 gold cost of sales per ounce4 is expected to be 1% to 3% higher, total cash costs per ounce are expected to be 2% to 4% higher and all-in sustaining costs per ounce5 are expected to be 3% to 5% higher. Preliminary Q2 copper production was higher than Q1, driven by Lumwana as planned, however Q2 copper sales were in line with the prior quarter due to the timing of shipments. Compared to Q1, Q2 copper cost of sales per pound is expected to be 4 to 6% lower and C1 cash costs per pound are expected to be 5 to 7% lower. Copper all-in sustaining costs per pound are expected to be in line to 2% higher than Q1.
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AMYT | Hot Stocks07:02 EDT Amryt Pharma receives Orphan Drug Designation from FDA for Mycapssa - Amryt announces that the US Food and Drug Administration, FDA, has granted Orphan Drug Designation to Mycapssa for the treatment of carcinoid syndrome. Carcinoid syndrome is the most common functional syndrome associated with neuroendocrine tumours. Dr Joe Wiley, CEO of Amryt Pharma, commented: "Today's news is another significant milestone achieved in our plan to develop Mycapssa for patients affected by carcinoid syndrome associated with NET and we are excited at the potential for Mycapssa and our TPE technology to deliver an oral therapy option to NET patients in need."
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SON | Hot Stocks07:00 EDT Sonoco Products and Turkish Airlines sign global master lease agreement - Sonoco's unit Sonoco ThermoSafe and Turkish Airlines announced a global partnership agreement for leasing the new Pegasus ULD temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD containers directly from Turkish Cargo. Sonoco ThermoSafe's Pegasus ULD is the world's first FAA and EASA-approved passive bulk temperature-controlled ULD container for pharmaceutical use.
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JPM | Hot Stocks06:57 EDT JPMorgan to 'temporarily' suspend share buybacks - CEO Dimon concluded: "As a result of the recent stress tests and the already scheduled G-SIB increase, we will build capital and continue to effectively and actively manage our RWA. In order to quickly meet the higher requirements, we have temporarily suspended share buybacks which will allow us maximum flexibility to best serve our customers, clients and community through a broad range of economic environments."
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COP SRE | Hot Stocks06:57 EDT ConocoPhillips and Sempra partner in LNG facility, carbon capture - ConocoPhillips (COP) announced an investment in a new large-scale liquefied natural gas, or LNG, facility under development by Sempra Infrastructure, a subsidiary of Sempra (SRE), in Jefferson County, Texas. ConocoPhillips has entered into a Heads of Agreement with Sempra to acquire a 30% direct equity holding in Port Arthur Liquefaction Holdings and an LNG offtake equivalent to approximately 5 million tons per annum from the Port Arthur LNG project. The first phase of the project is fully permitted and expected to include two liquefaction trains and LNG storage tanks, as well as associated facilities capable of producing up to approximately 13.5 Mtpa of LNG. ConocoPhillips will supply the gas for its 5 Mtpa offtake and may provide additional gas supply services to the Port Arthur LNG facility. In addition, ConocoPhillips will have the option to acquire certain LNG offtake and equity ownership from future contemplated LNG trains at the Port Arthur LNG site, where a similarly sized Phase 2 project is also under development. The companies will also evaluate development of low-carbon projects and Sempra Infrastructure would have the opportunity to participate in carbon capture and sequestration projects developed by ConocoPhillips in Texas or Louisiana in connection with the Port Arthur LNG project. Additionally, the HOA provides an opportunity for ConocoPhillips to acquire offtake and equity participation in Sempra's development of the Energia Costa Azul LNG Phase 2 Project to be located north of Ensenada, Baja California, Mexico. The referenced HOA is a preliminary, non-binding arrangement, with development of the Port Arthur LNG project subject to concluding definitive agreements and resolving a number of risks and uncertainties.
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SRE COP | Hot Stocks06:57 EDT Sempra Energy, ConocoPhillips enter HOA to develop Port Arthur LNG project - Sempra (SRE) announced that its subsidiary, Sempra Infrastructure, and ConocoPhillips (COP) have entered into a heads of agreement, or HOA, to develop Sempra Infrastructure's Port Arthur LNG project and jointly participate in other related energy infrastructure in Southeast Texas and the Pacific Coast of Mexico. The referenced HOA anticipates the negotiation of a definitive agreement for a 20-year liquefied natural gas, or LNG, tolling arrangement for 5M tons per annum, or Mtpa, at Phase 1 of the Port Arthur LNG project under development in Jefferson County, Texas. The HOA also contemplates a 30% equity investment in Phase 1 of Port Arthur LNG by ConocoPhillips and the potential for ConocoPhillips to supply additional natural gas to the proposed facility, including responsibly sourced natural gas, for the project's other LNG sales. In addition to the provisions related to Phase 1 of the project, ConocoPhillips would have the option to acquire certain LNG offtake and equity ownership from future developments of the Port Arthur LNG site, which may include additional LNG trains as well as low-carbon hydrogen infrastructure. Sempra Infrastructure would also have the opportunity to participate in carbon capture and sequestration projects developed by ConocoPhillips in Texas or Louisiana in connection with the Port Arthur LNG project. Phase 1 of the Port Arthur LNG project is permitted. The project is expected to include two natural gas liquefaction trains and LNG storage tanks, as well as associated facilities capable of producing, under optimal conditions, up to approximately 13.5 Mtpa of LNG. Sempra Infrastructure and Bechtel are working on updating the terms of the project's fixed-price engineering, procurement and construction contract that was previously announced in 2020. A similarly sized Phase 2 project is also under active marketing and development. Additionally, the HOA provides for collaboration between the two companies for LNG offtake, natural gas supply and equity investment for Phase 2 of the ECA LNG export development project in Baja California, Mexico, including up to one-third of the exported LNG volumes. The ECA LNG Phase 2 liquefaction export project is in early-stage development by Sempra Infrastructure. ECA LNG Phase 1 is currently under construction with first production of LNG by the 3.25-Mtpa facility expected by the end of 2024.
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JPM | Hot Stocks06:55 EDT JPMorgan reports Q2 credit costs of $1.1B - Credit costs of $1.1B included a $428M net reserve build and $657M of net charge-offs.
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JPM | Hot Stocks06:54 EDT JPMorgan reports Q2 book value per share of $86.38, up 2% - Reports tangible book value per share of $69.53, up 1%.
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JPM | Hot Stocks06:51 EDT JPMorgan reports Q2 ROE 13%, ROTCE 17% - Reports Q2 CET1 Capital Ratios: Std. 12.2%, Adv. 12.8%. Net payout LTM 55%.
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JPM | Hot Stocks06:49 EDT JPMorgan CEO: JPM performed well in the second quarter - Jamie Dimon, Chairman and CEO, commented on the financial results: "JPMorgan Chase performed well in the second quarter as we earned $8.6 billion in net income on revenue of $30.7 billion and an ROTCE of 17%, with growth across the lines of business, while maintaining credit discipline and a fortress balance sheet." Dimon added: "In Consumer & Community Banking, combined debit and credit card spend was up 15% with travel and dining spend remaining robust. Card loans were up 16% with continued strong new account originations. In the Corporate & Investment Bank, we generated strong Markets revenue, up 15% as we helped clients navigate volatile market conditions. Global IB fees were down 54% compared to a record last year, in a challenging macro environment. Commercial Banking loans were up 7% on strong new loan originations and higher revolver utilization. Asset & Wealth Management delivered solid results as the impact of higher rates and loan and deposit balances more than offset the decline in market levels." "In our global economy, we are dealing with two conflicting factors, operating on different timetables. The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy. But geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road. We are prepared for whatever happens and will continue to serve clients even in the toughest of times." "In the first half of 2022, we extended credit and raised $1.4 trillion in capital for large and small businesses, governments and U.S. consumers. We continue to invest in strengthening the Firm by adding products, people and technology to better serve our customers, as well as expand into new markets. We will continue to use our capital to invest in and grow our market-leading businesses to support our clients, customers and communities and pay a sustainable dividend." Dimon concluded: "As a result of the recent stress tests and the already scheduled G-SIB increase, we will build capital and continue to effectively and actively manage our RWA. In order to quickly meet the higher requirements, we have temporarily suspended share buybacks which will allow us maximum flexibility to best serve our customers, clients and community through a broad range of economic environments."
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AUMN | Hot Stocks06:48 EDT Golden Minerals reports Q2 gold production of 3,004 oz. - Golden Minerals reported production data from its Rodeo gold-silver mine - Durango State, Mexico - for Q2. Payable gold production: 3,004 oz Au; payable silver production: 12,768 oz Ag; payable gold equivalent production: 3,158 AuEq oz; average gold grade: 2.6 g/t Au; throughput 522 tons per day processed; gold recovery: 75.1%; silver recovery: 82.3%; realized gold/silver prices before selling and refining costs: $1,865/oz Au and $22.49/oz Ag.
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CNX | Hot Stocks06:48 EDT CNX Resources, Newlight enter methane capture agreement - Newlight Technologies and CNX Resources announced that the companies have entered into a 15-year agreement to capture and utilize methane emissions for the production of Aircarbon, a naturally-occurring molecule also known as PHB that replaces plastic but is carbon-negative and biologically degrades in natural environments. Under the agreement, CNX and Newlight will work together to capture waste methane from third party industrial activity that would typically be vented to atmosphere. CNX will gather, process, and deliver the methane through new and existing natural gas pipeline infrastructure, and Newlight will acquire contractual rights to a portion of the captured methane to support the production of Aircarbon, similar to how solar, wind, and renewable natural gas are delivered contractually through new and existing grid infrastructure. Combined, by using greenhouse gas as a resource to make a naturally-occurring material that replaces plastic, the agreement will enable the large-scale reduction of both carbon emissions and plastic pollution.
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MGM | Hot Stocks06:38 EDT MGM Resorts, Bet MGM renew and expand agreement with MLB - Major League Baseball, or MLB, MGM Resorts International and BetMGM, announced the renewal and expansion of an integrated partnership that, in 2018, designated MGM Resorts as MLB's first official gaming sponsor. Under the renewed, multi-year agreement, BetMGM will continue to be an official sports betting partner of MLB, domestically marketing its brand and gaming options across a variety of league and team platforms including MLB Network, MLB.com and the portfolio of MLB apps.
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THTX | Hot Stocks06:36 EDT Theratechnologies provides update on study of TH1902 in resistant malignancies - Theratechnologies provided an update on the dose escalation portion of the TH1902 Phase 1 clinical safety study. This is Theratechnologies' first-in-human study of TH1902, its investigational lead peptide drug conjugate - PDC - linked to docetaxel for the treatment of sortilin-expressing cancers. It has received Fast Track designation from the FDA. Two advanced prostate cancer patients showed signs of efficacy. The first patient achieved a confirmed partial response with the tumor mass reduction of 53%, and the other patient achieved a PSA response with stabilization of disease without any further progression. A total of 18 heavily pre-treated patients, who received an average of 8 prior cancer treatments, were enrolled in the dose escalation portion of the study. No Dose Limiting Toxicities were observed during the first cycle, therefore, the dose of 300 mg/m2 was selected for continuation of the basket part of the study. Signs of efficacy have been observed in three heavily pretreated patients in the dose escalation trial. The company continues to advance the development of its SORT1+ Technology platform by conjugating the proprietary peptide with other effective anti-cancer agents and by exploring other combinations with established anti-cancer drugs. Confirmed low levels of free docetaxel were consistent with observations in animal studies.
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GOOG GOOGL | Hot Stocks06:36 EDT Italy's competition watchdog probes Google over data portability - The Italian Competition Authority has launched an investigation against Google for a possible abuse of dominant position in violation of Article 102 of the Treaty on the Functioning of the European Union. According to the ACGM: "The Alphabet/Google group holds a dominant position in several markets that allow it to extract large amounts of data through the services it provides (Gmail, Google Maps, Android) and in 2021 had revenues of $257.6 billion. In particular, Google allegedly hindered interoperability in sharing data on its platform with other platforms and, in particular, with the Weople APP, operated by Hoda, an operator active in Italy that has developed an innovative data investment bank. In the Authority's view, Google's conduct could compress the right to portability of personal data, established by Article 20 of the GDPR, and could constrain the economic benefits that consumers can derive from their data. At the same time, the alleged abuse could restrict competition because it limits the ability of alternative operators to develop innovative data-based services."
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LGO | Hot Stocks06:12 EDT Largo Inc. announces automatic securities repurchase plan - Largo has implemented an automatic securities purchase plan to facilitate purchases of its common shares under its previously announced normal course issuer bid, or NCIB, at times when the company ordinarily would not be active in the market due to regulatory restrictions or self-imposed blackout periods. The Automatic Repurchase Plan will be effective as of July 14, 2022 and will terminate on the termination date of the NCIB.
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LGO | Hot Stocks06:10 EDT Largo Inc. reports Q2 production and sales results - Largo reported Q2 production of 3,084 tons - 6.8 million lbs - of vanadium pentoxide - V2O5 - from its MaracasMenchen Mine, vs. 3,070 tons produced in Q2 2021 and 26% above Q1 2022 production. The company also reported 3,291 tons of V2O5 equivalent sales in Q2, a 9% increase over the 3,027 tons sold in Q2 2021 and 47% above sales in Q1 2022. Construction of the ilmenite concentration plant continues according to schedule and the company expects to begin commissioning in Q2 2023. The company expects V2O5 production of 900 - 950 tons in July 2022 and does not expect any further shutdowns in 2022; 2022 V2O5 production guidance of 11,600-12,400 tons is maintained. CEO Paulo Misk stated: "We are pleased to report the Company achieved a new monthly V2O5 production record of 1,168 tons in May. Looking ahead, our team continues its focus on further optimizing operations to achieve consistent plant availability following kiln-related impacts experienced this quarter. In Q2 2022, sales increased 47% from Q1 2022 and the company expects to benefit from the elevated price environment in Q2 2022. We are confident the company will achieve its sales and production guidance for the year. We continue to remain optimistic about LCE's competitiveness in the Long Duration Energy Storage Solutions market as production of our core components (stacks and electrolyte purification) ramp up and through the potential of our prospective battery customers to utilize LPV, which remains subject to all applicable regulatory and exchange approvals. We look forward to capitalizing on the increased interest in LDESS and the LCE offering."
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CDNS TSEM | Hot Stocks06:04 EDT Cadence Design, Tower Semiconductor expand collaboration - Cadence Design Systems (CDNS) and Tower Semiconductor (TSEM) announced a collaboration to advance automotive and mobile IC development. Through the collaboration, the companies are developing a new, comprehensive automotive reference design flow using the Cadence Virtuoso Design Platform and Spectre Simulation Platform to provide customers with a faster design cycle, maintaining comprehensive design verification for advanced automotive IC product development.
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BGNE | Hot Stocks06:03 EDT BeiGenes BLA application for tislelizumab deferred by FDA - BeiGene announced that the FDA has deferred action on the Biologics License Application - BLA - for tislelizumab as a second-line treatment for patients with unresectable or metastatic esophageal squamous cell carcinoma - ESCC -. The FDA has been unable to conduct required inspections in China due to COVID-19 related travel restrictions. As a result, the FDA is deferring action on the application until the inspections are complete. In the letter, the FDA cited only travel restrictions and the inability to complete inspections as the reason for the deferral. The application remains under review, and the FDA did not provide a new anticipated action date as they continue to monitor the public health situation and travel restrictions. In September 2021, the FDA accepted the BLA for tislelizumab in 2L ESCC and provided a Prescription Drug User Fee Act goal date of July 12, 2022.
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KBR | Hot Stocks06:01 EDT KBR to lead cyber defense research for UK Ministry of Defence - KBR announced today that it will lead research and development for self-defending, self-recovering cyber defense concepts in support of the UK Ministry of Defence, or MOD, through Frazer-Nash Consultancy, a KBR company.
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TWTR | Hot Stocks05:44 EDT Twitter not looking at companywide layoffs, committed to closing Musk deal - Twitter said in a filing on Wednesday that it is not looking at companywide layoffs but could likely continue to restructure the business. Additionally, Twitter said that "On June 20, 2022, we sent Mr. Musk a formal request for consent to two tailored employee retention programs that had been vetted by the board and the compensation committee with the assistance of an outside compensation consultant. Mr. Musk has not provided his consent to implement these programs." The Twitter Board is committed to closing the merger on the $54.20 price and terms agreed upon with Musk, it added, contending that Musk's purported termination is "invalid and wrongful."
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SVA | Hot Stocks05:36 EDT Sinovac Biotech announces COVID-19 vaccine approved for children 3 to 5 - Sinovac Biotech announced that its COVID-19 vaccine has been approved by the Brazilian Health Regulatory Agency for emergency use in children from 3 to 5 years old on 13 July. These children will receive the same dose that is already applied to minors aged 6 to 17 years and adults and there is no restriction on the application for immunosuppressed children aged 3 to 5 years.
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GOL | Hot Stocks05:32 EDT Gol Linhas announces preliminary traffic figures for June - GOL Linhas announced preliminary air traffic figures for the month of June, compared to the same period in 2021. GOL's total supply increased 68.6%. Total seats increased 74.1% and the number of departures increased by 79.6%. GOL's total demand increased by 54% and the load factor was 76.7%. GOL's domestic supply increased 55.9% and demand increased by 40.6%. GOL's domestic load factor was 75.7%. The volume of departures increased by 73.9% and seats increased by 68.6%. GOL's international supply was 223M, the demand was 198M and international load factor was 88.6%.
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REGN SNY | Hot Stocks05:30 EDT Regeneron, Sanofi announce Dupixent trial met primary endpoint - Regeneron (REGN) and Sanofi (SNY) announced that a Phase 3 trial assessing the investigational use of Dupixent in children aged 1 to 11 years with eosinophilic esophagitis, or EoE, met its primary endpoint of histological disease remission at 16 weeks with both higher and lower dose weight-tiered regimens. There are no approved treatments for children with EoE under 12 years of age. In the Phase 3 trial, 102 children aged 1 to 11 were randomized to receive Dupixent, in either a higher dose or lower dose regimen based on body weight, or placebo. At 16 weeks, 68% of children on higher dose and 58% of patients on lower dose Dupixent achieved the primary endpoint of significant histological disease remission. Additionally, children receiving higher dose Dupixent experienced the following changes at week 16: 86% reduction in peak esophageal intraepithelial eosinophil count from baseline compared to a 21% increase for placebo. 0.88 and 0.84 reduction from baseline in disease severity and extent, respectively, as measured at the microscopic level in biopsy specimens compared to a 0.02 and 0.05 increase for placebo. 3.5-point reduction in abnormal endoscopic findings from baseline compared to a 0.3-point increase for placebo. A numerical improvement in the proportion of days children experienced symptoms of EoE from baseline, as reported by caregivers (Pediatric EOE signs/symptoms questionnaire, compared to placebo, though not statistically significant. The PESQ-C is a novel endpoint developed by Regeneron and Sanofi used for the first time in this trial, designed to assess symptoms in young children through their caregivers, as children may have difficulty verbalizing their symptoms themselves. As part of a prespecified exploratory analysis, a 3.09 percentile increase in body weight for age percentile from baseline compared to 0.29 for placebo. Histological, anatomic and cellular secondary endpoints were also analyzed for the lower dose group, with all being nominally significant and generally comparable with the higher dose. More detailed results will be shared at an upcoming medical meeting, including additional data for the endpoints in the lower dose group. Safety results were generally consistent with the known safety profile of Dupixent in its approved EoE indication for children and adults aged 12 years and older who weigh at least 40 kg. For the 16-week treatment period, overall rates of adverse events were 79% for Dupixent and 91% for placebo. AEs more commonly observed with Dupixent compared to placebo included COVID-19, rash, headache, viral gastroenteritis, diarrhea and nausea. Rates of treatment discontinuation due to AEs prior to week 16 were 0% for Dupixent and 6% for placebo. The potential use of Dupixent in children with EoE aged 1 to 11 years is currently under clinical development, and the safety and efficacy have not been fully evaluated by any regulatory authority. These data will be discussed with regulatory authorities around the world, starting with the U.S. later this year.
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DBRG BIP | Hot Stocks05:25 EDT DigitalBridge, Brookfield Infrastructure Partners to acquire 51% of GD Towers - DigitalBridge (DBRG) announced that funds affiliated with its investment management arm together with Brookfield Infrastructure (BIP) and its institutional partners have reached an agreement to acquire a 51% ownership stake in GD Towers. The transaction values GD Towers, the mobile telecommunications tower business of Deutsche Telekom at $17.5B, on a consolidated basis, including the assumption of net debt. GD Towers is Germany's largest tower company, owning and operating over 33,000 towers and communication sites in Germany and over 7,000 towers and communication sites in Austria. GD Towers is led by an independent management team with decades of European tower company experience. GD Towers' portfolio is supported by an anchor tenancy agreement with Deutsche Telecom, which will retain a minority 49% ownership stake in GD Towers following this transaction.
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EGY TGA | Hot Stocks05:23 EDT Vaalco Energy to acquire TransGlobe in $307M stock-for-stock combination - Vaalco Energy (EGY) and TransGlobe (TGA) announced that they have entered into a definitive arrangement agreement pursuant to which Vaalco will acquire all of the outstanding common shares of TransGlobe in a stock-for-stock strategic business combination transaction valued at $307M. Under the terms of the arrangement agreement, Vaalco will acquire each TransGlobe share for 0.6727 of a Vaalco share of common stock, which represents a 24.9% premium per TransGlobe common share based on the companies' respective 30-day volume weighted average share prices as of market close on July 13. The transaction will result in Vaalco stockholders owning approximately 54.5% and TransGlobe shareholders owning approximately 45.5% of the combined company. The boards of directors of both companies have unanimously approved the transaction. The combined company will continue to be led by George Maxwell as CEO and Ron Bain as CFO, with the executive team of TransGlobe remaining with the business through a three to six month transition period. The combined company's board of directors will be proportionally comprised of Vaalco and TransGlobe non-executive directors, with Andrew Fawthrop as chair, David Cook, Edward LaFehr, Tim Marchant, Fabrice Nze-Bekale, and Cathy Stubbs as non-executive directors and George Maxwell as a director and CEO; Vaalco 's shares will continue be listed on the NYSE and are intended to be readmitted to trading on the Standard Segment of the LSE, both under the ticker symbol (EGY) and Vaalco intends to apply for the cancellation of trading of TransGlobe's shares on AIM, and the delisting of TransGlobe's shares from the TSX and TransGlobe's shares will be delisted from the Nasdaq. Vaalco is to acquire, through an indirect wholly-owned subsidiary, each TransGlobe share for 0.6727 of a Vaalco share. The transaction has implied TransGlobe equity value of $307M and enterprise value of $273M assuming cash of $37M and debt of $3M as of March 31. Vaalco stockholders and TransGlobe shareholders will own approximately 54.5% and 45.5% of the combined company, respectively. The transaction will be implemented by way of a court-approved plan of arrangement under the Business Corporations Act. The transaction requires approval by at least 66 2/3% of the votes cast by the holders of TransGlobe shares present in person or represented by proxy at a special meeting of the holders of the TransGlobe shares to be called to consider the transaction; The issuance of the Vaalco shares pursuant to the Transaction requires approval by the holders of a majority of shares of Vaalco common stock who, being present or voting by proxy and entitled to vote at the Vaalco stockholders meeting, cast votes affirmatively or negatively on the Vaalco share issuance resolution. Vaalco will also propose to amend its certificate of incorporation to increase the size of its authorized share capital in order to issue the Vaalco shares. Approval of this proposed amendment will be required by the holders of a majority of the outstanding shares of Vaalco common stock entitled to vote at the Vaalco stockholders meeting. The arrangement agreement provides for customary deal protection provisions, including reciprocal non-solicitation covenants and rights to match superior proposals. The arrangement agreement provides for mutual termination fees of $9.15M in the event the transaction is terminated by either party in certain circumstances. The boards of directors of both companies have unanimously approved the transaction. The transaction is expected to close in the second half of 2022. Closing of the transaction is subject to approval by the stockholders of Vaalco and the shareholders of TransGlobe, the approval of the Court of Queen's Bench of Alberta, approval for listing of the Vaalco shares to be issued on the applicable stock exchanges and other customary closing conditions. It is anticipated that both the TransGlobe shareholder and Vaalco stockholder meetings will take place in the second half of 2022. Each of Vaalco's and TransGlobe's directors and certain members of the executive leadership team have entered into voting support agreements agreeing to vote their shares or stock in favor of the transaction.
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FLNC | Hot Stocks05:11 EDT Fluence Energy sends open letter regarding REPowerEU Plan - Fluence Energy, along with nine other signatories, released the following open letter to European policy makers and the media regarding the REPowerEU plan and the urgent need to rethink the structure of European energy markets. The letter said, "The current geopolitical situation across the continent, combined with high dependency on imported natural gas, growing electricity demand, and consequently, higher bills for households and businesses, creates an urgent need to rethink the structure of European energy systems. The REPowerEU Plan1, published in May by the European Commission, aims to increase the security of energy supply by building and connecting more renewable generation to the grid. However, for this plan to be successful, it must be accompanied by adequate targets and policy frameworks for the deployment of energy storage and other flexibility technologies. They are necessary to enable the safe and efficient integration of renewables into the electric grid, and now is the time to recognise them as the pillars of the European energy transition. The signatories to this letter, organisations with decades-long experience in creating and supporting global and European energy markets, welcome the REPowerEU Plan, its ambitious renewable targets, and the recognition of the role of energy storage in delivering sustainable and reliable energy supply. At the same time, we believe that if the accelerated near-term deployment of renewable energy sources is to be successful, Europe needs a rapid rollout of proven and scalable technologies to increase grid flexibility and enable the safe and efficient integration of renewable generation. To this end, battery-based energy storage is a quickly deployed, cost-effective, and low-emissions solution with the potential to become a backbone of modern, resilient, and decarbonised energy systems. Other technologies, such as demand side response, the improved utilisation of existing storage potential of pumped hydroelectric and other energy storage technologies, as well as the interconnectivity between national electricity markets, are all critical to enabling the European energy transition. Thanks to its unique characteristics - speed of response, flexibility, and reliability - battery-based energy storage and other fast-acting technologies are perfectly positioned to reduce the overall electricity cost for businesses and residential energy users in multiple ways. Battery-based energy storage can enhance network stability and ease congestion on transmission lines, reducing renewable curtailment and the significant costs associated with it. It can provide capacity and ancillary services that balance supply and demand, often more efficient and cheaper than other technologies. It can also limit price volatility and thereby overall electricity cost in the wholesale energy markets through energy arbitrage. In several markets around the world, energy storage technologies have proven their ability to replace thermal power plants as a more economical and low-carbon way of providing secure energy supply during periods of peak demand and low renewable generation. But despite having access to this ready-to-deploy and cost-effective technology, we continue to rely on high-emission natural gas-based generation, while the Europe-wide targets that would strategically scale up energy storage projects are yet to be developed and embedded in law. In 2021, capacity market auctions across Europe awarded approximately 2.4 GW of contracts to energy storage, but various studies predict that to increase the security and reliability of energy systems on the continent, we will need up to 200 GW of energy storage by 2030. Additional changes to the energy market structure and design are also required to enable the goals of REPowerEU. Furthermore, the energy market should be designed in a way that provides clear price signals to generators and customers in line with the needs of the system at any moment in time. Energy prices should be low at times of high renewable generation, and higher during periods of low generation. Similarly, the cost of using the grid should be higher when it is congested providing price signals to local generation and consumption that helps to lower the congestion on the grid. The carbon intensity of peaking power plants needs to be addressed in capacity market design and through new policy measurements such as clean peaking standards. Grid connections for energy storage should be prioritised. The introduction of flexible connection agreements in congested areas can speed up integration of storage, which in turn can help reduce congestion based on market signals. Finally, existing barriers to storage in national markets, such as charging of fees, levies or taxes that are not cost-reflective and disadvantage storage technologies, or restrictions to market participation must be removed in line with existing European legislation. We look forward to working together with the regulators and other market stakeholders, realising the goals outlined in the REPowerEU Plan by delivering technologies, solutions and policy frameworks to secure affordable, reliable, and sustainable energy systems for European consumers."
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BTG | Hot Stocks05:10 EDT B2Gold says on track to meet FY22 gold production of 990,000-1,050,000 ounces - The company said, "The Company is pleased with its second quarter and first half of 2022 production results as outlined in this news release. Based on a strong first half, the Company is on track to meet its annual gold production guidance for 2022 of between 990,000 - 1,050,000 ounces (including 40,000 - 50,000 attributable ounces projected from Calibre) with total consolidated cash operating costs of between $620 - $660 per ounce and total consolidated AISC of between $1,010 - $1,050 per ounce. The Company is currently compiling its consolidated cash operating costs and consolidated AISC results for the second quarter of 2022, which will be released along with its second quarter of 2022 financial results after the North American markets close on Wednesday, August 3, 2022. The Company is continuing with a $33 million program for development of infrastructure for Phase I saprolite mining at the Anaconda area, including road construction. Based on the updated Mineral Resource estimate for the Anaconda area released in March 2022 and B2Gold's preliminary planning, the Company has demonstrated that a pit situated on the Anaconda area could provide selective higher grade saprolite material to be trucked to and fed into the Fekola mill. Subject to obtaining all necessary permits and completion of a final development plan, the trucking of selective higher grade saprolite material to the Fekola mill would increase the ore processed and annual gold production from the Fekola mill, with the potential to add an average of approximately 80,000 to 100,000 ounces per year to the Fekola mill's annual gold production. The plan to truck the selective higher grade saprolite material is not included in the Company's 2022 production guidance and the Anaconda area Mineral Resources have not been included in the current Fekola life of mine plan. Based on the updated Mineral Resource estimate and the 2022 exploration drilling results, the Company is completing a Phase II scoping study to review the project economics of constructing a stand-alone mill near the Anaconda area. Subject to receipt of a positive Phase II scoping study, the Company expects that the saprolite material would continue to be trucked to and fed into the Fekola mill during the construction period for the Anaconda area stand-alone mill."
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BTG | Hot Stocks05:08 EDT B2Gold reports Q2 gold production 223,623 ounces - Total gold production in the second quarter was 223,623 ounces, slightly above budget by 1% and consolidated gold production of 208,858 ounces from the company's three operating mines, in line with budget. Consolidated gold revenue in the second quarter was $382M on sales of 205,300 ounces at an average realized gold price of $1,861 per ounce. For the first half of 2022, total gold production was 432,988 ounces, above budget by 3% and comparable with the first half of 2021. Consolidated gold production from the company's three operating mines was 405,331 ounces in the first half of 2022, above budget by 2% and 1% higher compared to the second half of 2021.
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