Stockwinners Market Radar for October 14, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:03 EDT Fox Corp. forms committee to begin exploring potential News Corp. combination - Fox Corporation (FOX, FOXA) announced that the company's Board of Directors, following the receipt of letters from Rupert Murdoch and the Murdoch Family Trust, has formed a Special Committee composed of independent members of the Board to begin exploring a potential combination with News Corporation (NWSA, NWS). The Special Committee, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will thoroughly evaluate a potential combination with News Corp. The Special Committee has not made any determination at this time, and there can be no certainty that the Company will engage in such a transaction. The company does not intend to comment on or disclose further developments regarding the Special Committee's work unless and until it deems further disclosure is appropriate or required.

17:27 EDT News Corp. forms committee to begin exploring potential Fox combination - News Corp. (NWSA) announced that the company's Board of Directors, following the receipt of letters from K. Rupert Murdoch and the Murdoch Family Trust, has formed a Special Committee composed of independent and disinterested members of the Board to begin exploring a potential combination with Fox Corporation (FOXA). The Special Committee, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will thoroughly evaluate a potential combination with Fox. The Special Committee has not made any determination with respect to any such potential combination at this time, and there can be no certainty that the company will engage in such a transaction. Neither the Company nor the Special Committee intends to comment on or disclose further developments regarding the Special Committee's work unless and until it deems further disclosure is appropriate or required.

17:16 EDT Nikola completes acquisition of Romeo Power - Nikola (NKLA) announced the completion of its acquisition of Romeo Power (RMO). As a result of the acquisition, shares of common stock of Romeo ceased trading as of the close of the market on October 14 and will no longer be listed on the New York Stock Exchange.

16:56 EDT Maxpro Capital Acquisition confirms additional funding, extension of deadline - Maxpro Capital Acquisition announced that its sponsor, MP One Investment LLC, deposited an additional payment in the aggregate amount of $1,035,000 into the company's trust account for its public stockholders. This deposit enables the company to extend the date by which the company has to complete its initial business combination from October 13, 2022 to January 13, 2023. The Extension is the first of two three-month extensions permitted under the company's governing documents. The Extension provides the company with additional time to complete its initial business combination with Apollomics, previously announced by the company and Apollomics on September 14. The Sponsor loaned the Extension Payment to the company, which loan is convertible, at the Sponsor's discretion, into units identical to the units issued in the company's private placement that was consummated in connection with the company's initial public offering.

16:33 EDT Farmmi receives Nasdaq notification regarding minimum bid requirements - Farmmi announced that on October 12, 2022, it received a letter from The Nasdaq Stock Market LLC, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company's ordinary shares was below $1.00 per share for a period of 30 consecutive business days. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The notification has no immediate effect on the listing of the Company's ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker "FAMI".

16:31 EDT Polished names John Bunka interim CEO, Bob Barry interim CFO - Polished.com announced the appointments of John "Rick" Bunka as interim Chief Executive Officer and Robert "Bob" Barry as interim Chief Financial Officer, effective immediately. In connection with the appointments, the company also announced that it has accepted the resignations of Albert Fouerti, Maria Johnson and Elie Fouerti, effective immediately. Albert Fouerti remains a member of the company's Board of Directors.

16:21 EDT Mesabi Trust says no distribution declared this October 2022 - The Trustees of Mesabi Trust (MSB) have determined that no distribution will be declared this October 2022 with respect to Units of Beneficial Interest. This compares to a distribution of $1.42 per Unit for the same period last year. The Trustees' announcement today of declaring no distribution this quarter primarily reflects the Trustees' caution about uncertainties arising from the July 22, 2022 announcement by Cleveland-Cliffs Inc. (CLF), the parent company of Northshore Mining Company, to extend the current idling of Northshore operations until at least April 2023 and maybe beyond. With Northshore's operations currently in idle mode, and no additional information being made available to the Trustees regarding the length of the idling, the Trustees' decision reflects their determination to maintain an appropriate level of reserves in order to make adequate provision to meet current and future expenses and present and future liabilities (whether fixed or contingent) that may arise in the future.

16:16 EDT Procter & Gamble recommends holders reject mini-tender offer from TRC Capital - Procter & Gamble has been notified of an unsolicited "mini-tender offer" by TRC Capital Investment Corporation to purchase up to 1,000,000 shares of the company's common stock at a price of $118.63 per share in cash. TRC Capital Investment Corporation's offer price is approximately 4.54% lower than the $124.27 closing price of P&G's common stock on October 7, 2022, the last trading day prior to the date of the offer. P&G does not endorse TRC Capital Investment Corporation's offer and recommends shareholders do not tender their shares. P&G is not associated in any way with TRC Capital Investment Corporation or its mini-tender offer. P&G does not endorse TRC Capital Investment Corporation's offer and again recommends shareholders do not tender their shares in response to this unsolicited mini-tender offer because the offer is at a price significantly below the current market price of P&G's shares and is subject to numerous conditions. In addition, mini-tender offers, such as this one by TRC Capital Investment Corporation, avoid many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the U.S. Securities and Exchange Commission and other procedures mandated by U.S. securities laws.

16:06 EDT Alleghany, Berkshire Hathaway receive regulatory approval for merger - Berkshire Hathaway(BRK.A; BRK.B) and Alleghany (Y) announced that all regulatory approvals relating to the proposed acquisition of Alleghany by Berkshire Hathaway have been received. As previously announced, the stockholders of Alleghany voted to approve and adopt the Agreement and Plan of Merger, dated as of March 20, at a special meeting held on June 9. The completion of the proposed transaction is currently expected to occur on October 19, subject to the satisfaction of customary closing conditions.

15:32 EDT Blizzard's 'Overwatch 2' draws 25M players in first ten days of availability - Activision Blizzard (ATVI) said its latest free-to-play multiplayer shooter "Overwatch 2" has drawn over 25M players in its first ten days since its launch on PC, Xbox Series X/S (MSFT), Xbox One, PlayStation 5 (SONY), PS4, and Nintendo Switch (NTDOY). The game has proven to be a global phenomenon, already achieving a daily player base spread near-even across EMEA, Asia, and the Americas that's nearly triple the previous daily player peak from the original "Overwatch," the company said. "The launch of Overwatch 2 has been such an important moment for Blizzard. We're thrilled to bring new players from around the world into Overwatch's vibrant universe while welcoming back the existing Blizzard community," said Mike Ybarra, president of Blizzard Entertainment. "This is only the beginning-there are so many possibilities to explore in the world of Overwatch, and we cannot wait for players to experience everything the team is building for the live game." The Fly notes that Activision Blizzard agreed to be acquired by Microsoft earlier this year.

14:43 EDT U.S. Bancorp receives U.S. regulatory approvals for MUFG Union Bank acquisition - U.S. Bancorp (USB) announced that it has received all required U.S. regulatory approvals to complete the previously announced acquisition of MUFG Union Bank's core regional banking franchise from Mitsubishi UFJ Financial Group (MUFG), including approvals from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency. MUFG Union Bank received approval from the Federal Deposit Insurance Corporation. The transaction remains subject to approval from Japanese regulators. The acquisition is expected to close before the end of 2022, subject to the satisfaction of closing conditions set forth in the agreement between the banks. "We are pleased to have received U.S. regulatory approval," said U.S. Bank chairman, president and CEO Andy Cecere. "We believe that this acquisition is good for customers, good for the communities that MUFG Union Bank has served and good for employees. It allows us to make investments to serve customers and enhance competition on the West Coast. We share many common values with MUFG Union Bank and we look forward to having their employees and customers join the U.S. Bancorp family."

13:36 EDT Revive Therapeutics finalizes amended protocol to FDA for Bucillamine study - Revive Therapeutics announced that it has finalized an amended protocol to the U.S. Food & Drug Administration for the company's Phase 3 clinical trial to evaluate the safety and efficacy of Bucillamine, an oral drug with anti-inflammatory and antiviral properties, in patients with mild to moderate COVID-19. After the clinical team's further analysis the company will now be submitting to the FDA the Study's amended protocol with a new primary efficacy endpoint, specifically, assessing the difference in the proportion of participants with improvement in at least two COVID-19 related clinical symptoms on or before Day 14 compared with baseline between Bucillamine versus placebo. Additional secondary endpoints may include the time to the polymerase chain reaction resolution, clinical outcome, disease severity, supplemental oxygen use, and progression of COVID-19. Should the FDA agree with the revised protocol, the Data Safety Monitoring Board will review the completed Post-Dose selection data of approximately 500 subjects in the context of the new primary endpoint. The DSMB may recommend continuing the Study if there is a trend toward achieving statistical significance, halting the Study early due to statistical significance likely not going to be met, or halting the Study early due to positive efficacy showing statistical significance. Regardless of the outcome, the company would proceed to seek a meeting with the FDA to agree on a proposed plan for potential regulatory approval. The company is not making any express or implied claims that its product has the ability to eliminate or cure COVID-19 at this time.

13:27 EDT Nvidia 'unlaunches' RTX 4080 12GB GPU - Nvidia said it is "unlauching" the RTX 4080 12GB, saying that the "fantastic" graphics card is "not named right" as the company has two GPUs with the 4080 designation. "The RTX 4080 16GB is amazing and on track to delight gamers everywhere on November 16th," the company said. "If the lines around the block and enthusiasm for the 4090 is any indication, the reception for the 4080 will be awesome." Reference Link

13:02 EDT Baker Hughes reports U.S. rig count up 7 to 769 rigs - Baker Hughes reports that the U.S. rig count is up 7 from last week to 769 with oil rigs up 8 to 610, gas rigs down 1 to 157 and miscellaneous rigs unchanged at 2. The U.S. Rig Count is up 226 rigs from last year's count of 543 with oil rigs up 165, gas rigs up 59 and miscellaneous up 2. The U.S. Offshore Rig Count is up 1 to 14, up 2 year-over-year. The Canada Rig Count is up 1 from last week to 216, with oil rigs up 2 to 150, gas rigs down 1 to 66. The Canada Rig Count is up 48 rigs from last year's count of 168, with oil rigs up 52, gas rigs down 4.

12:57 EDT Legion Partners comments on reports, urges Nutanix board to explore all options - Legion Partners Asset Management, which together with its affiliates is a "significant" stockholder of Nutanix, issued the following comment on recent media reports that Nutanix has received interest from potential acquirers and is exploring a sale: "Our recently disclosed engagement with Nutanix and the associated discussions around its business only served to reinforce our conviction that the company's trading price has for some time not appropriately reflected its full value. Nutanix should be valued at a multiple appropriate for the high-growth and high-quality enterprise subscription software company that it is, not like the hardware stock it has been recently valued as. As such, we are encouraged by the reports today that the company has received interest from third parties and believe that, in light of this, the board must properly evaluate alternatives including all potential partners. Given Nutanix's unique position and current industry dynamics, in our view, a strategic buyer would be the ideal partner for the company. We encourage the board to fully explore all options in order to achieve the best outcome for all stockholders and we will be observing the process closely."

12:08 EDT Fed approves U.S. Bancorp's application to acquire MUFG Union Bank - The Federal Reserve Board announced its approval of the application by U.S. Bancorp (USB), of Minneapolis, Minnesota, to acquire MUFG Union Bank, a subsidiary of Mitsubishi UFJ (MUFG). In connection with the Board's approval, U.S. Bancorp has committed to provide the Board and the FDIC with an interim update to its resolution plan reflecting the combined organization, and implementation plans related to heightened prudential standards. In the same press release, the Board invited public comment on an advance notice of proposed rulemaking to enhance regulators' ability to resolve large banks in an orderly way should they fail.

12:00 EDT Mosaic falls -9.5% - Mosaic is down -9.5%, or -$4.94 to $47.06.

12:00 EDT Wallbox rises 11.0% - Wallbox is up 11.0%, or 70c to $7.07.

12:00 EDT Gravitas Education rises 74.7% - Gravitas Education is up 74.7%, or $11.21 to $26.21.

11:30 EDT Citi sees Q4 NII up $1.5B-$1.8B y/y

11:10 EDT Citi 'ahead of plan' on Korean consumer winddown, says CEO

11:05 EDT PNC Financial says continuing to make progress on strategic priorities - Says delivered another strong quarter. Says remains disciplined on expense front. Says continues to invest in payment capabilities. Says in position of strength as company looks toward the future. Comments taken from Q3 conference call.

10:53 EDT TOP Financial Group Ltd trading resumes

10:47 EDT LiveOne to launch LiveOne Brands division of celebrity-branded products - LiveOne announced that it has partnered with stars from the music and wine industries to launch LiveOne Brands, a new division featuring celebrity-backed and branded products. The new division brings together R&B star Jeremih and winemaker Russell Bevan with LiveOne's global community to launch LiveOne Brands' first-ever white wine product line. The venture will further diversify LiveOne's business model and expand into the burgeoning multi-billion dollar celebrity wine and spirits category.

10:34 EDT WSFS Bank appoints Shari Kruzinski as CCBO - WSFS Bank announced that Shari Kruzinski has been named Executive Vice President, Chief Consumer Banking Officer, reporting to Rodger Levenson, WSFS Chairman, President, and CEO. In her new role, she will oversee all aspects of the Consumer Banking division including Retail Delivery, Strategy, Consumer and Small Business banking and the Mortgage division. Kruzinski will assume the role following Rick Wright's announcement that he will retire at the end of the year. Most recently, Kruzinski was the Chief Customer Officer.

10:21 EDT Morgan Stanley: 'Possible' mortgage banking revenue will be lower in Q4

10:09 EDT ShiftPixy trading resumes

10:04 EDT Wells Fargo CEO: Debit card spending 'significantly' above pre-pandemic levels - Comments taken from Q3 earnings conference call.

10:00 EDT First Republic falls -6.3% - First Republic is down -6.3%, or -$8.47 to $126.26.

10:00 EDT Oil-Dri Corporation of America rises 6.8% - Oil-Dri Corporation of America is up 6.8%, or $1.56 to $24.43.

10:00 EDT Gravitas Education rises 68.7% - Gravitas Education is up 68.7%, or $10.30 to $25.30.

09:54 EDT Morgan Stanley not stressed about 'difficult' environment, says CEO

09:52 EDT Morgan Stanley doesn't see a reason for 'Draconian measures,' says CEO

09:47 EDT Mace Security appoints Margaret Jordan to board of directors - Mace Security International announced the appointment of Margaret Jordan, a Director of Business Development at KIKO Company, to its Board of Directors on October 11, 2022. Ms. Jordan will serve on the Board's Governance Committee.

09:47 EDT Albertsons falls -6.4% - Albertsons is down -6.4%, or -$1.84 to $26.79.

09:47 EDT Oil-Dri Corporation of America rises 6.4% - Oil-Dri Corporation of America is up 6.4%, or $1.46 to $24.33.

09:47 EDT Westlake rises 6.9% - Westlake is up 6.9%, or $6.28 to $96.78.

09:45 EDT Morgan Stanley sees FY tax rate approximately 22%, says CFO

09:42 EDT Gravitas Education Holdings trading resumes

09:36 EDT Gravitas Education Holdings trading halted, volatility trading pause

09:36 EDT Morgan Stanley sees continued volatility as Fed tightens policy

09:35 EDT Intelligent Living Application Group Inc trading halted, volatility trading pause

09:19 EDT JPMorgan says seeing deposit betas lower than prior cycle - Says not seeing any "cracks" in credit performance. Says credit card borrowing normalizing, not getting worse. Says making "heavy investments" and have the "best margins in the business." Says $80.5B spend in 2023 "roughly in the right ballpark." Sees "damned good returns, even in a recession." Says experienced no real leveraged-loan losses. Says banking system "extraordinarily strong." Sees lower investment banking revenue in Q4 vs. Q3.

09:09 EDT UnitedHealth says new customer sales, retention have been strong - Says care patterns in the quarter remain similar to Q2. Says watchful for evolving medical costs trends. Says backlog increased to $21.4B. Says new customer sales and retention have been strong. Says entering 2023, the company is serving more people in four- and five-star health plans than any other health plans. Comments taken from Q3 earnings conference call.

09:03 EDT Qurate Retail names Linda Aiello ad Chief People Officer - Qurate Retail Group (QRTEA) announced that Linda Aiello will be appointed as Chief People Officer, effective October 31. Most recently, Aiello served as Chief People and Culture Officer at Stitch Fix (SFIX), where she led the People and Culture teams across the U.S. and U.K.

09:01 EDT Paychex names President and CEO John Gibson, Jr. to board - Paychex announced that the company's board of directors has voted to expand from 10 to 11 members. The board has appointed Paychex president and CEO John Gibson, Jr. to fill the new position.

08:46 EDT JPMorgan CFO sees 'modest decline' in 2023 NII from 4Q22 run rate

08:44 EDT JPMorgan sees Q4 NII approximately $19B, FY22 NII approximately $66B - Says outlook for expenses "remains unchanged."

08:43 EDT JPMorgan CFO says credit still healthy, net charge-offs remain low - Says well positioned to met CET1 targets in coming quarters. Says consumer nominal spend still strong. Says consumer spending growing faster than income. Says card delinquencies remain "well below" pre-pandemic levels. Comments taken from Q3 earnings conference call.

08:41 EDT Biofrontera Inc. adopts limited duration shareholder rights plan - Biofrontera announced that its Board of Directors has adopted a limited duration shareholder rights plan, and declared a dividend distribution of one preferred stock purchase right on each outstanding share of common stock, in order to protect the interest of all of the Company's shareholders. The rights will be issued to shareholders of record on October 24, 2022 and will expire on October 13, 2023. The Board believes that the current price of the Company's common stock is not reflective of the Company's intrinsic or long-term value. The Board further believes the Rights Plan is an effective course of action to fulfill its fiduciary duties to the Company and its shareholders, and to enable shareholders to realize the long-term value of their investment. The Rights Plan was adopted following a careful evaluation and consultation with the Company's external legal and financial advisors. The Rights Plan is similar to plans adopted by other publicly traded companies. Pursuant to the Rights Plan, the Company will distribute one right for each share of common stock outstanding as of the close of trading on October 24, 2022. While the Rights Plan is effective immediately, the rights would become exercisable only if a person or group, or anyone acting in concert with such a person or group, acquires beneficial ownership, as defined in the Rights Plan, of 20% or more of the Company's issued and outstanding common stock in a transaction not approved by the Company's Board of Directors. In that situation, each holder of a right (other than the acquiring person or group, or anyone acting in concert as defined in the Rights Plan with such person or group), will have the right to purchase a number of shares of Company common stock at an exercise price of one-half the market value of the right. In addition, at any time after a person or group acquires 20% or more of the Company's common stock, unless such person or group acquires 50% or more, the Company's Board of Directors may exchange one share of the Company's common stock for each outstanding right, other than rights owned by such person or group, which would have become void.

08:35 EDT T2 Biosystems highlights multiple new studies on T2MR - T2 Biosystems announced the publication of three new, peer-reviewed studies that demonstrate the clinical value of the use of the T2 Biosystems' products, also referred to as T2 Magnetic Resonance Technology. T2MR. T2 Biosystems' sepsis products are CE marked, and include the only FDA cleared products able to quickly and accurately detect sepsis-causing pathogens within adult patient blood samples without the need to wait hours for a positive blood culture. Study Highlights. "Combining T2Bacteria and T2Candida Panels for Diagnosing Intra-Abdominal Infections: A Prospective Multicenter Study." A study conducted at the Karolinska University Hospital in Stockholm, Sweden, that combined T2Bacteria and T2Candida to diagnose Intra-Abdominal Infection in surgical patients admitted to the ICU or high dependency unit found: Ability to detect more infections; Faster Targeted Therapy; Fast and accurate detection. "Effective Rapid Diagnosis of Bacterial and Fungal Bloodstream Infections by T2 Magnetic Resonance Technology in the Pediatric Population." A 754 patient retrospective research study conducted at the Bambino Gesu hospital in Rome, Italy, that analyzed the diagnosis of bacterial and fungal bloodstream infections in the pediatric population found: Faster Targeted Therapy: Patients suspected of bacterial or fungal bloodstream infections that were tested with T2Bacteria or T2Candida received targeted therapy 61.3 hours or 121.8 hours faster compared to blood culture, respectively. Higher Detection Rate: T2Bacteria and T2Candida detected 79 additional probable or possible bacterial bloodstream infections and 6 additional probable or possible fungal bloodstream infections. "Rapid Detection of Bacterial and Fungal Pathogens Using the T2MR versus Blood Culture in Patients with Severe COVID-19." A study conducted at the Klink Favoriten hospital in Vienna, Austria, reported several highlights regarding usage of T2 Biosystems' products to detect COVID-19 superinfections in ICU patients. Faster Targeted Therapy: The median time to therapy change with T2 panels was more than 52 hours faster compared to blood culture. Faster Time to Detection: Positive results for COVID-19 with T2Bacteria were available in 4.3 hours, compared to a mean time of 41.5 hours for the standard of care. Positive results for COVID-19 with T2Candida were available in 5 hours compared to a mean time of 85.6 hours for the standard of care. Sensitivity and Specificity: T2 Biosystems' products detected 100% of species on the panel. Impact on Infections: T2 Panel targets covered and detected 71.4% of all pathogens causing infection.

08:33 EDT Gulf Resources says 'making progress' on Yuxin chemical factory construction - Gulf Resources updated investors on the construction of its new Yuxin Chemical Factory. The company said, "As Gulf has previously announced, the construction of this factory has been delayed due to supply chain disruption as well as COVID protocols in China. While delays are continuing and COVID restrictions are still in place, the Company believes it is making progress on the construction of this factory. The Company has posted photographs on its website, showing the most recent progress in the construction on its factory site as well as the delivery of some equipment including water jet vacuum, screw vacuum, and closed water ring vacuum equipment. The Company is expecting the delivery of the rest of equipment including sewage and waste gas treatment equipment. After all equipment is delivered, the Company expects to be able to install the equipment and complete construction. After all equipment has been delivered, installed and complete the construction, the Company expects to obtain government approvals including safety and environmental protection approval and thereafter to start equipment testing, and trial production. The Company expects to take additional 6 to 8 months to complete the process."

08:21 EDT ArrowMark Financial Corp. reports estimated NAV $20.74 per share - ArrowMark Financial announced that the Company's September 30, 2022, estimated and unaudited Net Asset Value was $20.74 per share. This NAV reflects the regular third quarter cash dividend of $0.39 per share, paid on September 29, 2022.

08:13 EDT Citi expects to build to CET1 Capital ratio target of ~13% - Comments taken from Q3 earnings conference call presentation slides.

08:10 EDT Citi to cease nearly all institutional banking services in Russia by Q1 of 2023 - The company said, "As part of the previously announced intent of Citi to reduce its operations in and exposure to Russia, Citi is now informing its multinational clients in Russia that it will be ending nearly all of the institutional banking services it offers in Russia by the end of the first quarter of 2023. Going forward, Citi's only operations in Russia will be those necessary to fulfill its remaining legal and regulatory obligations. At this time, Citi does not expect the costs to be incurred in connection with this action to be material. In August, Citi announced the wind down of its Russia consumer and local commercial banking businesses including the pursuit of portfolio sales."

08:08 EDT Citi reports Q3 ROE 7.1%, RoTCE 8.2%

08:04 EDT Beam Global receives order from nuclear waste management site - Beam Global announced that a nuclear waste management federal contractor has ordered multiple EV ARC sustainable charging systems and an ARC Mobility trailer for efficient system transport. The systems were purchased using the General Services Administration Multiple Award Schedule Contract Number 47QSWA21D0006 which simplifies the federal procurement process and ensures best pricing.

08:02 EDT Aligos initiates dosing healthy volunteers with siRNA drug candidate ALG-125755 - Aligos Therapeutics reported that dosing with ALG-125755, an siRNA targeting the production of hepatitis B surface antigen, was initiated in healthy volunteers in Study ALG-125755-501. "Emerging data continue to indicate that siRNA drugs targeting HBsAg production have the potential to become a cornerstone therapy to achieve functional cure in chronic hepatitis B," said Lawrence Blatt, Ph.D., MBA, CEO and Chairman of the Board at Aligos. "Drugs in this class have generally been well tolerated and have consistently lowered HBsAg levels with more convenient dosing frequencies compared to other injectable HBsAg lowering agents. This, coupled with the longer duration of action observed in nonclinical studies for ALG-125755 compared to other siRNAs, suggests that ALG-125755 has the potential to be administered less frequently than other drugs in this class."

07:41 EDT Takeda Pharmaceutical announce CHMP recommendation for TAK-003 approval - Takeda announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, or EMA, recommended the approval of Takeda's dengue vaccine candidate, TAK-003, for the prevention of dengue disease caused by any serotype in individuals four years of age and older in Europe and in dengue-endemic countries participating in the parallel EU-M4all procedure. The final step in the path to approval in Europe is Marketing Authorization from the EMA, which is expected in the coming months. Regulatory reviews will also progress in dengue-endemic countries in Latin America and Asia.

07:37 EDT Pershing Square commences tender offer for up to 6.34M shares of Howard Hughes - Pershing Square Capital Management announced that Pershing Square, L.P., Pershing Square International, Ltd. and Pershing Square Holdings, Ltd. have commenced a cash tender offer to purchase up to an aggregate of 6,340,000 shares of common stock of The Howard Hughes Corporation at a price not greater than $60.00 nor less than $52.25 per common share, net to the seller in cash, less any applicable withholding taxes and without interest. "The exact price will be determined through a modified Dutch auction described in the offering materials referred to below. If the Purchasers accept any common shares for purchase pursuant to the offer, PS, PS International and PSH will purchase approximately 7.47%, 2.27% and 90.26%, respectively, of those common shares and their purchase obligation will be several in accordance with those percentages and not joint. The offer is being made on the terms and subject to the conditions set forth in the offer to purchase and the letter of transmittal, each dated as of October 14, 2022. The Purchasers are making this offer because they believe the company's current stock price is below the company's long-term intrinsic value per share. The offer is scheduled to expire at 12:00 Midnight, New York City time, at the end of November 10, 2022, unless the offer is extended or earlier terminated. Any extension of the offer will be announced publicly on the first business day after the expiration date. The offer is subject to customary closing conditions. There is no financing condition to the offer," Pershing Square stated. In pre-market trading, Howard Hughes shares are up $1.53, or 3%, to $56.40.

07:35 EDT Goodness Growth to commence legal proceedings against Verano - Goodness Growth Holdings (GDNSF) announces that on October 13th, 2022, Verano Holdings Corp. (VRNOF) delivered notice to Goodness purporting to terminate the arrangement agreement between Verano and Goodness dated January 31, 2022, as amended. Under the Arrangement Agreement, Verano agreed to acquire all of the issued and outstanding subordinate voting shares, multiple voting shares and super voting shares of Goodness. The company said, "Goodness believes that Verano has no legal basis to terminate the Arrangement Agreement, and that Verano has committed various material breaches of the Arrangement Agreement. Verano's repudiation of the Arrangement Agreement has been acknowledged by Goodness, and the Transaction will not proceed. Goodness intends to immediately commence legal proceedings against Verano to seek significant damages for, among other things, Verano's material breaches of the Arrangement Agreement, Verano's failure to discharge its obligations thereunder and Verano's breach of the duties of good faith and honest contractual performance. The Termination Notice claims that Verano has grounds to terminate the Arrangement Agreement on the basis of alleged breaches of certain representations made by Goodness, Goodness' alleged failure to give reasonable consideration to Verano's comments on the draft Goodness proxy circular prepared by Goodness and reviewed and cleared by the United States Securities Exchange Commission, the refusal of the board of directors of Goodness to re-evaluate the terms of the transaction despite the fact that no material adverse changes had occurred to either Goodness or Verano, and Goodness' alleged failure to reaffirm its recommendation to shareholders to vote for the Transaction, which recommendation had not yet been made and was planned to be made in the Proxy, which was anticipated to be mailed to the shareholders of Goodness next week. Goodness vehemently denies all of Verano's allegations and has complied with its obligations under the Arrangement Agreement in all material respects at all times. Verano has no factual or legal basis to justify or support its purported grounds for termination of the Arrangement Agreement. Goodness believes that Verano is repudiating the Arrangement Agreement to avoid fulfilling its obligations thereunder after Goodness refused Verano's request to reduce the agreed-upon consideration payable by Verano under the Arrangement Agreement. Goodness will file suit promptly to recover all damages available to it under the Arrangement Agreement and at law and hold Verano responsible for its breaches and failure to consummate the transactions contemplated thereunder."

07:35 EDT BridgeBio presents 12-month results from Phase 2 study of BBP-418 - BridgeBio Pharma reported 12-month data from the Phase 2 study of BBP-418 in patients with limb-girdle muscular dystrophy type 2i, LGMD2i. These updated results were presented in an oral presentation at the 27th International Hybrid Annual Congress of the World Muscle Society, WMS, taking place in Halifax, Canada on October 11 - 15, 2022. These additional Phase 2 results continue to support the potential for BBP-418 to restore glycosylation of alpha-dystroglycan, reduce muscle damage, and preserve motor function for patients over time, as demonstrated by the sustained increase in the ratio of glycosylated-alphaDG over total alphaDG, reduction in creatine kinase, improvements in NSAD scores, and improvements in 10MWT velocity observed over a 12-month period. BridgeBio and ML Bio Solutions continue to engage with regulatory agencies and intend to initiate a Phase 3 clinical trial in 2023. BridgeBio also presented data in a poster at WMS 2022 showcasing development of a novel bioassay to detect the extent of DG glycosylation relative to total DG from muscle biopsy samples. The Phase 2 trial enrolled 14 participants, including both ambulatory and non-ambulatory patients with LGMD2i. Based on the data after 12 months of treatment, BridgeBio observed: Increased glycosylation of DG in all dose cohorts, with an average increase in DG ratio of +0.21 at day 90; Greater than 75% reduction in CK sustained over 12 monthsImprovements from baseline in NSAD & 10MWT velocity at 12 months; and No treatment-related SAEs or dose limiting toxicities with 12 months of treatment with BBP-418

07:32 EDT WhiteHorse Finance announces special distribution of 5c per share - Payable on December 9 to stockholders of record as of October 31.

07:23 EDT Novartis reports positive CHMP opinion for Pluvicto for some mCRPC patients - Novartis announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency has adopted a positive opinion and recommended granting a marketing authorization for Pluvicto, a radioligand therapy, in combination with androgen deprivation therapy with or without androgen receptor pathway inhibition, for the treatment of adult patients with progressive prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer, or mCRPC, who have been treated with AR pathway inhibition and taxane based chemotherapy.

07:21 EDT LianBio: BridgeBio says Helsinn discontinuing distribution of Truseltiq - In a regulatory filing, LianBio (LIAN) said that on October 12, BridgeBio Pharma (BBIO) informed LianBio that Helsinn Healthcare SA, which holds the Truseltiq New Drug Application in the United States, is permanently discontinuing distribution of the drug and anticipates requesting withdrawal of the NDA in the United States due to business reasons. Due to the planned withdrawal of the NDA, BridgeBio informed LianBio that it intends to close the ongoing global Phase 3 PROOF-301 clinical trial of infigratinib in first-line cholangiocarcinoma. Consequently, LianBio is terminating activities related to the PROOF-301 clinical trial in China and no longer plans to pursue development and commercialization of infigratinib in CCA indications in its licensed territories. LianBio intends to continue to support patients who are currently being treated with infigratinib in China under the special Named Patient Program in Hainan Province. LianBio expects to continue the ongoing Phase 2a proof of concept clinical trial of infigratinib in patients with locally advanced or metastatic gastric cancer or gastroesophageal junction adenocarcinoma with FGFR2 genetic amplification and other solid tumors with FGFR alterations.

07:16 EDT Kroger, Albertsons combination sees $1B in synergies within first four years - The combined company expects to achieve approximately $1B of annual run-rate synergies net of divestitures within the first four years of combined operations with approximately 50% being achieved within the first two years following close. The companies expect to achieve synergies largely through improved sourcing, optimization of manufacturing and distribution networks, and technology investment amplification opportunities.

07:13 EDT Atara Biotherapeutics announces CHMP opinion recommending Ebvallo approval - Atara Biotherapeutics and Pierre Fabre announced the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, or EMA, has adopted a opinion recommending the European Commission, or EC, approval of Ebvallo as a monotherapy for treatment of adult and pediatric patients two years of age and older with relapsed or refractory Epstein-Barr virus positive post-transplant lymphoproliferative disease, who have received at least one prior therapy. For solid organ transplant patients, prior therapy includes chemotherapy unless chemotherapy is inappropriate.

07:12 EDT Goodfood Market sees Q4 non-cash impairment charge $45M-$50M - The company said, "With our primary objective of returning to a positive Adjusted EBITDA position in the first half of 2023 and to achieve long term profitable growth, we concluded a strategic review of our Goodfood On-Demand delivery model including the MFCs. Since launch, we have shipped over 340,000 orders across Montreal, Toronto, and Ottawa, introducing thousands of Canadian to the Goodfood brand and product portfolio. While we are pleased with the progress we have made, looking forward, the operating investments necessary to bring 30-minute deliveries to an attractive level of profitability would require significant additional capital and operating expense investments. As a result, we are announcing that we have or will be closing all our MFCs and the shut down of our wider 30-minute on-demand offering. Our strategy going forward is centered on building the Goodfood brand through our weekly meal plans and add-ons nationally, providing an epic selection of Goodfood branded products, as well as increasing flexibility and access to our products over time. The result of this and the previously referenced initiatives have resulted in an expected fourth quarter non-cash impairment charge of $45 to $50 million based on Management's preliminary assessment, with additional charges possible, along with improvements in gross margin, Adjusted EBITDA and cash flows."

07:10 EDT Kroger to acquire Albertsons for $34.10 per share, or EV of $24.6B - Kroger (KR) and Albertsons Companies (ACI) announced that they have entered into a definitive agreement under which the companies will merge two complementary organizations with iconic brands and deep roots in their local communities to establish a national footprint and unite around Kroger's Purpose to Feed the Human Spirit. Through a family of well-known and trusted supermarket banners, this combination will expand customer reach and improve proximity to deliver fresh and affordable food to approximately 85M households with a premier omnichannel experience. Under the terms of the merger agreement, which has been unanimously approved by the board of directors of each company, Kroger will acquire all of the outstanding shares of Albertsons Companies common and preferred stock for an estimated total consideration of $34.10 per share, implying a total enterprise value of approximately $24.6B, including the assumption of approximately $4.7B of Albertsons Cos. net debt. Subject to the outcome of a store divestiture process, the cash component of the $34.10 per share consideration may be reduced by the per share value of a newly created standalone public company that Albertsons Cos. is prepared to spin off at closing in conjunction with the regulatory clearance process described further in the Transaction Details below. As part of the transaction, Albertsons Cos. will pay a special cash dividend of up to $4B to its shareholders. The cash component of the $34.10 per share consideration will be reduced by the per share amount of the special cash dividend, which is expected to be approximately $6.85 per share. This cash dividend will be payable on November 7, to shareholders of record as of the close of business on October 24. The purchase price represents a premium of approximately 32.8% to the unaffected closing price of Albertsons Cos. common stock on October 12, 2022, and 29.7% to the 30-day volume-weighted average price. In connection with obtaining the requisite regulatory clearance necessary to consummate the transaction, Kroger and Albertsons Cos. expect to make store divestitures. As described in the merger agreement and subject to the outcome of the divestiture process, Albertsons Cos. is prepared to establish an Albertsons Cos. subsidiary. SpinCo would be spun-off to Albertsons Cos. shareholders immediately prior to merger closing and operate as a standalone public company. Kroger and Albertsons Cos. have agreed to work together to determine which stores would comprise SpinCo, as well as the pro forma capitalization of SpinCo. The establishment of SpinCo, which is estimated to comprise between 100 and 375 stores, would create a new, agile competitor with quality stores, experienced management, operational flexibility, a strong balance sheet, and focused allocation of capital and resources to provide customers with continued value and quality service and associates with ongoing compelling career opportunities. Following the close of the transaction, Rodney McMullen will continue to serve as Chairman and CEO and Gary Millerchip will continue to serve as CFO of the combined company. The transaction is expected to close in early 2024, subject to the receipt of required regulatory clearance and other customary closing conditions, including receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

07:07 EDT Stronghold Digital Mining announces termination of Northern Data agreement - On September 30, 2022, Stronghold entered into a Settlement Agreement with Northern Data PA and 1277963 B.C. to mutually terminate the data center hosting agreement at the Company's Scrubgrass plant. Pursuant to the Settlement Agreement: 1) Stronghold will not pay any future profit share payments to Northern Data, which was expected to be 35% of miner revenue, net of a $0.027/kWh power cost. The Company estimates these payments were to be approximately $0.5 to $1.1 million per month until the halving in April of 2024 and approximately $10 to $25 million cumulatively through September 2024, which is based on the following assumptions: 1) Bitcoin price range of $17,500 to $30,000, 2) network hash rate of 250 EH/s through the halving in April 2024 and reduced by 35% thereafter, 3) approximately 1.33 EH/s of hash rate capacity, 4) average miner efficiency of 37 joules per terahash, and 5) miner uptime of 95%. 2) Stronghold to operate the approximately 50 MW of modular miner pods capable of hosting over 14,200 Bitcoin miners, equating to approximately 1.25 to 1.5 EH/s. The Company believes operating the miner pods will allow more flexibility to optimize profitability by either mining Bitcoin or selling power to the PJM power grid. In return for operating the pods, the Company will incur a de minimis $1,000 per year leasing expense. 3) Settlement Agreement eliminates the approximately $2.6 million accrued liability on Stronghold's balance sheet as of June 30, 2022. 4) At the end of the two-year lease term, Stronghold has the option, but not the obligation, to purchase the Northern Data pods for between $2 million and $6 million, depending on prevailing hash price at time, net of up to $1.5 million in expenditures that the Company has the option, but not the obligation, to spend if it deems necessary in order to upgrade or maintain the pods. 5) Stronghold to pay Northern Data $4.5 million, of which the Company paid $2.5 million on October 3, 2022 and will pay an additional $1 million prior to October 31, 2022, and $1 million prior to November 30, 2022.

07:05 EDT Stronghold Digital Mining provides update on debt reduction - Stronghold Digital Mining provided an update on its previously announced agreement with NYDIG ABL and the Provident Bank, to eliminate approximately $67 million in principal amount of debt outstanding under equipment financing agreements. Separately, the Company also announced its recent mutual termination and settlement of its data center hosting agreement. The Company believes that the settlement is materially beneficial to cash flow generation and operational flexibility. Stronghold has posted an investor presentation to its Investor Relations website to supplement this press release, which can be found in the Events and Presentations section. As previously disclosed on August 16, 2022, affiliates of Stronghold entered into an Asset Purchase Agreement with NYDIG and BankProv to return approximately 26,000 Bitcoin mining rigs that served as collateral under equipment financing agreements in exchange for the extinguishment of approximately $67 million of principal amount of debt outstanding. On September 30, 2022, Stronghold completed the sale of the initial three tranches of the APA Collateral to BankProv in exchange for the extinguishment of approximately $27 million of the Debt. On October 13, 2022, Stronghold completed the sale of three tranches of APA Collateral to NYDIG in exchange for the extinguishment of approximately $38 million of the Debt. As of October 13, 2022, approximately $65 million of the $67 million of Debt has been extinguished following the delivery of miners to NYDIG and BankProv between August 16, 2022 and October 12, 2022 pursuant to the APA. As of October 13, 2022, the Company has transferred to NYDIG and BankProv all of the approximately 26,000 Bitcoin mining rigs that served as collateral under the Debt except for approximately 500 Bitcoin mining rigs that are currently in the possession of U.S. Customs and Border Control in California. The Company expects these remaining miners to be released in the near future, after which, following an inspection period, the remaining approximately $2 million of Debt will be extinguished in accordance with the APA.

07:03 EDT Enthusiast Gaming to lead AnWeek Panel on creator economy - Enthusiast Gaming will moderate a panel discussion at Advertising Week New York on Thursday, October 20, 2022, Gaming's Creator Economy: Marketers' Gateway to the Metaverse and Web 3.0, led by Chief Revenue Officer, Bill Drolet. "With gaming at the epicenter of the new creator economy, Enthusiast Gaming, an integrated gaming entertainment company, is ideally positioned to lead the discussion on how brands and content creators are making an impact through gaming," the company said. "This is truly an exciting time for the industry," commented panel moderator and Enthusiast Gaming CRO, Bill Drolet. "Gaming is mainstream; there are new and sophisticated ways of expanding brand awareness, and a channel that captures attention and reaches almost everyone. Brands that choose to embrace these new strategies will continue to outperform their competitors."

07:02 EDT XPO Logistics appoints Kerr as CAO of RXO spin-off - XPO Logistics (XPO) announced that Jason Kerr will become chief accounting officer, CAO, of RXO, the planned spin-off of XPO's brokered transportation platform. Kerr has joined XPO as chief accounting officer for the North American transportation division, effective immediately. Hereports to Jamie Harris, who, as previously announced, will be chief financial officer of RXO, and currently serves as chief financial officer, North American transportation. Kerr has more than two decades of experience in public company accounting, most recently as chief accounting officer of BWX Technologies (BWXT).

06:57 EDT U.S. Bancorp sees closing Union Bank transaction in Q4

06:53 EDT Wells Fargo will continue to prudently manage capital levels, says CEO

06:52 EDT Wells Fargo expects to see continued increases in delinquencies - "Wells Fargo is positioned well as we will continue to benefit from higher rates and ongoing disciplined expense management. Both consumer and business customers remain in a strong financial condition, and we continue to see historically low delinquencies and high payment rates across our portfolios. We are closely monitoring risks related to the continued impact of high inflation and increasing interest rates, as well as the broader geopolitical risks, and while we do expect to see continued increases in delinquencies and ultimately credit losses, the timing remains unclear," CEO Scharf continued.

06:51 EDT JPMorgan reports Q3 ROE 15%, ROTCE 18%

06:48 EDT JPMorgan CEO: JPMorgan Chase delivered solid performance across our businesses - Jamie Dimon, Chairman and CEO, commented on the financial results: "JPMorgan Chase delivered solid performance across our businesses as we generated $9.7 billion in net income, $32.7 billion in revenue, an ROTCE of 18% and a CET1 capital ratio of 12.5%." Dimon added: "While we unfortunately still don't know the ultimate effect of changes in capital requirements due to the completion of Basel III, through our earnings power and demonstrated ability to manage down risk-weighted assets, we expect to reach our current target CET1 ratio of 13%, which includes a 50 basis point buffer, in the first quarter of 2023. Importantly, we continue to make all the investments that we need to grow our businesses and serve our customers, and we hope to be able to resume stock buybacks early next year." "In Consumer & Community Banking, we again ranked #1 in U.S. retail deposits, we were the fastest growing bank among the top 20 and we are now #1 in the top 3 largest markets based on the most recent FDIC data. Average deposits were up 9%, and debit and credit card sales were up 13%. In the Corporate & Investment Bank, we maintained our #1 ranking in Global Investment Banking although fees were down 47% compared to a record prior year. Markets revenue grew 8% driven by strong client activity in Fixed Income. Commercial Banking loans were up 13% on higher revolver utilization and new loan originations. Asset & Wealth Management reported solid results with revenue up 6% as higher net interest income more than offset the impact of lower market levels." "In the U.S., consumers continue to spend with solid balance sheets, job openings are plentiful and businesses remain healthy. However, there are significant headwinds immediately in front of us - stubbornly high inflation leading to higher global interest rates, the uncertain impacts of quantitative tightening, the war in Ukraine, which is increasing all geopolitical risks, and the fragile state of oil supply and prices. While we are hoping for the best, we always remain vigilant and are prepared for bad outcomes so we can continue to serve customers even in the most challenging of times." Dimon concluded: "Year to date, our employees have worked hard to extend credit and raise $1.9 trillion in capital for small and large businesses, governments and U.S. consumers. The investments we have made over the years, the discipline and rigor with which we manage the Firm, and the extraordinary efforts by our people have enabled us to consistently serve our customers, clients and communities around the world."

06:39 EDT Linde signs United Nations Global Compact - Linde announced it has become a signatory to the United Nations Global Compact, or UNGC, the world's largest corporate sustainability initiative.

06:31 EDT Rubicon Technologies names Phil Rodoni as CEO - Rubicon Technologies announced that chief technology officer Phil Rodoni has been appointed by the Rubicon Board of Directors as CEO and a member of the Board, effective October 13. Founding CEO Nate Morris will continue to serve as chairman of the board, director, and strategic advisor during this succession period. Osman Ahmed has been named as lead independent director. Rodoni has served as Rubicon's chief technology officer since 2015. He came to Rubicon from Esurance where he held the role of vice president of software development.

06:06 EDT Beyond Meat sees $27M in cash operating expense savings in next 12 months - The company said, "In aggregate, over the next twelve months, the reduction in force, combined with the elimination of certain open positions and changes to the executive leadership team, including as described in our Form 8-K filed with the SEC, is expected to result in approximately $27 million in cash operating expense savings, and an additional approximately $12 million in non-cash savings related to previously granted, unvested stock-based compensation which would have vested over the next twelve months. In addition, as a result of these actions, the company expects to recognize approximately $3 million of one-time non-cash savings related to the reversal of previously expensed, unvested stock-based compensation in the third and fourth quarters of 2022."

06:01 EDT Beyond Meat to reduce workforce by approximately 200 employees - The company is reducing its current workforce by approximately 200 employees, representing approximately 19% of the company's total global workforce. The company currently estimates that it will incur one-time cash charges of approximately $4M in connection with the reduction in force, primarily consisting of notice period and severance payments, employee benefits, and related costs. The company expects that the majority of these charges will be incurred in the fourth quarter of 2022, and that the reduction in force will be substantially complete by the end of 2022, subject to local law and consultation requirements, which may extend the process beyond the end of 2022 in certain countries. The charges the company expects to incur are subject to assumptions, including local law requirements, and actual charges may differ from the estimate disclosed above.

05:36 EDT Nutanix jumps 16% to $24.55 after WSJ says exploring sale

05:30 EDT Daqo New Energy subsidiaries sign five-year polysilicon supply agreement - Daqo New Energy announced that its subsidiaries Xinjiang Daqo and Inner Mongolia Daqo had signed a five-year high-purity polysilicon supply agreement with Shuangliang Silicon Materials, a subsidiary of Shuangliang Eco-Energy to supply its solar wafer business. Under the supply agreement, Xinjiang Daqo and Inner Mongolia Daqo will provide Shuangliang with a total amount of 150,300 MT high-purity mono-grade polysilicon from November 2022 to December 2027. Actual prices will be negotiated by both parties monthly according to market conditions.

05:24 EDT ViaSat, Inmarsat 'look forward' to working with CMA on investigation - Viasat and Inmarsat say they "look forward" to working with the U.K.'s Competition and Markets Authority "to demonstrate how the planned combination of the companies will benefit customers by improving efficiencies, lowering costs, and increasing the availability of in-flight connectivity around the world." The CMA announced today it will refer the merger of the companies to a Phase 2 investigation. Viasat and Inmarsat "remain confident that the transaction will increase the availability of more affordable, faster, and more reliable IFC globally to operators, airlines, and passengers." While the market is still nascent, existing providers Panasonic and Intelsat combined represent more than 75% of the long-haul in-flight connectivity market, the companies said in a statement. "IFC is an attractive market which is also attracting new providers such as Starlink, Eutelsat/OneWeb and Telesat. According to multiple reports, over the last three years these new market entrants have raised over $20 billion in new capital illustrating both the attractiveness of the markets and the intensity of competition," they added. Viasat and Inmarsat said they will actively participate in Phase 2.