Stockwinners Market Radar for October 18, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
NRIX | Hot Stocks20:18 EDT Cathie Wood's ARK Investment bought 48.6K shares of Nurix Therapeutics today
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NFLX | Hot Stocks18:39 EDT Netflix says plans to revisit content spend when revenue picks up - Says expects content slate to get better and better each quarter. Says will revisit content spend when revenue picks up. Says companies will bring sports to streaming. Sees bulk of currency drag in Q4.
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NFLX | Hot Stocks18:31 EDT Netflix says most people watch most movies at home - Says will take years to unwind COVID production logjam. Says theatrical release of "Glass Onion" a way to build hype for the Netflix release. Says most people watch most movies at home.
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NVX | Hot Stocks18:21 EDT NVX Stock trading halted, news pending
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NFLX | Hot Stocks18:20 EDT Netflix says still not growing as fast as company would like - Says "all the stars are lining up" for the company. Says still not growing as fast as company would like. Says churn remains slightly elevated. Says saw acquisition growth across every region in Q3.
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NFLX | Hot Stocks18:16 EDT Netflix says not trying to steer members to any particular plan - Says "high degree of alignment" between company and advertisers. Says not trying to steer members to any particular plan. Says lower price helps with churn, so expects positive dynamics from new ad tier. Says mostly competitive with linear right now. Says expects current subscribers to stick with no-ad plan.
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NFLX | Hot Stocks18:07 EDT Netflix says ad tier to attract new members - Says Q3 had "great examples" of "quality content." Says ad-supported tier likely to bring in new members. Says initial demand for ad-tier "very strong." Comments taken from Q3 earnings conference call.
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LMFA LMAO | Hot Stocks18:03 EDT LMF stockholders approve business combination with SeaStar Medical - LMF Acquisition Opportunities (LMAO) a special purpose acquisition company sponsored by LM Funding America, (LMFA), and SeaStar Medical, announced that LMAO stockholders voted to approve the previously proposed business combination with SeaStar Medical at LMAO's special meeting of LMAO stockholders held earlier today, October 18. More than 96% of the votes cast at the meeting voted to approve the business combination with SeaStar Medical. Holders of approximately 79% of LMAO's issued and outstanding shares cast votes at the Special Meeting. The business combination is expected to close upon satisfaction of all closing conditions, at which time LMAO will be renamed "SeaStar Medical Holding Corporation" and the company's common stock and warrants are expected to begin trading on Nasdaq under the new ticker symbols "ICU" and "ICUCW," respectively. The formal results of the vote will be included in a Current Report on Form 8-K to be filed by LMAO with the SEC.
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BYND | Hot Stocks17:38 EDT Don Lee Farms settlement with Beyond Meat reached, no party admits wrongdoing - As previously reported by Beyond Meat on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission on March 2, and on Form 10-Q for the fiscal quarter ended July 2 filed with the SEC on August 11 , Don Lee Farms and certain of its employees, on the one hand, and Beyond Meat, and certain of its respective current and former employees, on the other hand, were parties to litigation filed in the Superior Court of the State of California for the County of Los Angeles and the United States District Court for the Central District of California On October 18, the parties entered into a confidential written settlement agreement and mutual release, pursuant to which the parties agreed to dismiss all claims and cross-claims asserted in the State Court Case and Federal Court Case with prejudice. The terms of the settlement did not have a material impact on Beyond Meat's financial position or results of operations. No party admitted liability or wrongdoing in connection with the settlement. Both sides are satisfied with the outcome.
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BHP | Hot Stocks17:35 EDT BHP Group affirms FY23 Iron Ore output view of 249MT-260MT - Affirms FY23 Copper output 1,635-1,825kt and metallurgical coal output of 29-32MT.
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BHP | Hot Stocks17:34 EDT BHP Group reports Q1 iron ore output 65.1MT, up 3% y/y - Reports Q1 copper production 410.1kt, up 9% y/y. Reports Q1 Metallurgical coal production 6.7MT, down 1% y/y. CEO Mike Henry states: "We have started the new financial year strongly, achieving safe and reliable operating performance. The first quarter included significant planned major maintenance in Western Australia Iron Ore (WAIO), BHP Mitsubishi Alliance (BMA), and Olympic Dam. Copper production was up nine per cent on the same quarter last year, with strong concentrator throughput at Escondida and record quarterly anode production at Olympic Dam. WAIO continued to perform strongly, with production up by 3% relative to the same period last year, and we managed through substantial rainfall and labor constraints in our coal assets with production only down marginally year on year. Our full year production and unit cost guidance is unchanged. The South Flank iron ore ramp-up and the Jansen potash project are tracking well, with work ongoing to bring forward first production from Jansen Stage 1 and accelerate Jansen Stage 2. During the quarter, BHP struck a new agreement to supply our WAIO port facilities with renewable electricity, which is expected to halve GHG emissions from the electricity used, signed an MoU with India's Tata Steel to collaborate on lower GHG emission steelmaking and announced a partnership with Pan Pacific Copper to reduce GHG emissions from maritime transportation, as we take further action to reduce GHG emissions from our operations and support decarbonisation of our suppliers and customers. We expect global macro-economic uncertainty in the short term to continue to affect supply chains, energy costs, labor markets and equipment and materials availability. BHP remains well positioned, with a portfolio and balance sheet to withstand external challenges and a strategy positioned to benefit from the global mega-trends of decarbonisation and electrification."
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BRO | Hot Stocks17:31 EDT Brown & Brown raises quarterly cash dividend 12.2% to 11.5c per share - The dividend is payable on November 16 to shareholders of record on November 2.
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ACGL | Hot Stocks17:26 EDT Arch Capital estimates $530M-$560M in net catastrophe losses in Q3 - Arch Capital "reports that its Q3 results will be negatively impacted by the effects of Hurricane Ian, as well as from a series of other global events that occurred this year, including U.S. convective storms, Typhoon Nanmadol and the June French hailstorms. As a result, the Company has established a range of pre-tax catastrophe losses of $530 million to $560 million in the 2022 third quarter across its property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums. The Company's estimate for Hurricane Ian is commensurate with a range of estimated insured losses across the global property/casualty insurance industry of $50 billion to $60 billion for this event, resulting in an approximate market share of industry losses for the Company that is comparable to prior natural events of a large magnitude. The losses are currently expected to be split approximately 70%/30% between the Company's reinsurance and insurance businesses, respectively."
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FFIE | Hot Stocks17:20 EDT Faraday Future interim CFO Becky Roof resigns - On October 12, Becky Roof, Faraday Future Intelligent Electric's Interim CFO, resigned from the company effective immediately. Roof has agreed to assist the company to ensure an orderly transition. Roof's departure from the company comes upon the successful completion of key milestones in the company's SEC reporting and fundraising activities, and is not a result of any disagreement with the company's independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure, or internal controls. The company is continuing its search to identify and appoint a permanent CFO.
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DNLI | Hot Stocks17:08 EDT Denali Therapeutics drops 15% to $28.00 after $250M common stock offering
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TCN | Hot Stocks17:08 EDT Tricon confirms sale of interest in apartment buildings for approximately $315M - Tricon Residentia confirmed the closing of the previously announced sale of its 20% equity interest in a portfolio of 23 Sun Belt apartment buildings to a vertically integrated residential real estate investment and property management company, which will assume all asset and property management responsibilities for the portfolio after a customary transition period. The sale resulted in gross proceeds of approximately $315M to Tricon. The Company intends to use the net sale proceeds primarily to repay outstanding debt on its corporate credit facility, enhancing its balance sheet flexibility to pursue future growth in its core single-family rental business. Tricon also intends to use a portion of the proceeds to repurchase common shares under the normal course issuer bid announced on October 13.
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PNFP | Hot Stocks17:04 EDT Pinnacle Financial sees FY22 noninterest expense a high-teens percentage up - "We are very pleased with our PPNR results for the Q3" said Harold R. Carpenter, Pinnacle's CFO. "As to expenses, compensation costs increased approximately 15.6% over the same quarter last year, due primarily to increased opportunities to hire the best bankers and investment professionals in our markets. We are optimistic that our hiring model will continue to provide us even more opportunities to add revenue producers this year. Including the impact of inflation and the acquisition of JB&B Capital, in the Q1 of this year, our expenses, comparing the Q3 of 2022 to the same quarter in 2021, have increased by 18.0%. We now estimate our total 2022 noninterest expense should approximate a high-teens percentage increase over that of 2021."
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PZZA | Hot Stocks17:04 EDT Papa John's chief people and diversity officer Boakye to resign - According to a regulatory filing, on October 17, 2022, Marvin Boakye, the Chief People and Diversity Officer of Papa John's International, notified the company of his intention to resign from his position with the company, effective November 4, 2022, to assume a chief human resources officer position with another company. The company has initiated a search process to identify its next Chief People and Diversity Officer. The diverse and inclusive culture cultivated over the last three years will continue to be led by a strong executive leadership team, as well as through the Papa John's company purpose and values.
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ISRG | Hot Stocks17:03 EDT Intuitive Surgical raises FY22 procedure growth view to 17%-18% from 14%-16.5% - Refines FY22 gross profit margin view to 69%-69.5% from 69%-70.5%. Lowers operating expense growth view to 21%-23% from 23%-25%. Lowers FY22 capital expenditures view to $600M-$700M from $700M-$800M. Still sees FY22 tax rate 22%-24%. Says still experiencing staffing pressures at hospitals Says continues to see regional lockdowns occur as Covid cases rise in some areas. Comments and guidance taken from Q3 earnings conference call.
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ISRG | Hot Stocks17:01 EDT Intuitive Surgical jumps 8% to $209.85 after Q3 results beat estimates
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LFLY | Hot Stocks17:01 EDT Leafly to cut 56 positions as part of cost reductions - Leafly "announced a headcount reduction of 56 positions - or 21% of the company's workforce through a combination of layoffs and attrition - to ensure its long-term health. The company expects a one-time cash restructuring charge for the layoffs of approximately $500,000 in Q4 of 2022. In addition, the company has otherwise realigned its cost structure in response to changing market conditions, resulting in additional expected cost savings, for total expected annual cash savings of approximately $16 million beginning in 2023, primarily in headcount-related costs. These cost-cutting measures allow the company to prioritize growth opportunities, realign its expense structure, and preserve capital while strengthening its financial position."
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COIN | Hot Stocks16:50 EDT Coinbase, Primer partner to make cryptocurrency standard payment method - The company states: "Primer, automation platform for payments and commerce, and Coinbase have announced a strategic integration that allows merchants in markets across the globe to add crypto as a standard method of payment at checkout. Coinbase Commerce, Coinbase's platform to help merchants accept cryptocurrency payments, can be added to Primer's Universal Checkout with clicks, not code. This means merchants using Primer can now add crypto payments easily and quickly to their checkout page, which is critical given that 40% of global consumers say they plan to use cryptocurrency to make a payment within the next year."
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BWMN | Hot Stocks16:46 EDT Bowman awarded Colorado's Department of Military and Veterans Affairs contract - Bowman Consulting announced that the State of Colorado's Department of Military and Veterans Affairs has awarded the firm a new contract in connection with the upgrade of security lighting at the Joint Forces Headquarters, or JFHQ, in Centennial, Colorado. Bowman will provide lighting design, electrical, civil and structural engineering under this award. This is part of a $1M upgrade to the facility. The lighting upgrades will be designed to meet current Army and Department of Defense lighting regulations and standards which dictate the use of extremely enhanced lighting systems to supplement security operations, including lighting for the use of closed-circuit television. Bowman has extensive experience designing security lighting upgrades at military sites across the State of Colorado.
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GLPI | Hot Stocks16:39 EDT Gaming and Leisure promotes Brandon Moore to COO, Desiree Burke to CFO - Gaming and Leisure Properties announced executive leadership promotions broadening the roles of two executives: current executive VP, general counsel and secretary, Brandon Moore is assuming the role of COO, and current senior VP, chief accounting officer and Treasurer, Desiree Burke has been appointed CFO. The COO position is new at GLPI and Moore will retain his responsibilities as general counsel and secretary. Burke will retain her responsibilities as the company's treasurer. The appointments are effective immediately. Moore and Burke will continue to report to GLPI chairman and CEO, Peter Carlino.
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GLRE | Hot Stocks16:39 EDT Greenlight Re Innovations invests in short-term rental insurance startup, Safely - Greenlight Re Innovations or GRI, of Greenlight Capital Re has announced an investment in SafelyStay. "With the rise of booking platforms such as Airbnb and Vrbo, the short-term home rental market has grown rapidly, and homeowners have become more aware of their homes' revenue-generating potential. However, concerns about the possibility of property damage and liability exposure have left many homeowners reluctant to list their properties. Safely addresses these friction points by screening each guest, reducing the likelihood that the homeowner will incur a loss. Safely also embeds commercial insurance protection directly into each reservation through its partnerships with property management systems. When a claim is made, the property manager can easily administer it within Safely's platform, which pays nearly all claims within two business days. Safely has accumulated more than two million nights' worth of data, building a robust view of risk factors within the short-term rental market and the broader sharing economy,"
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LECO | Hot Stocks16:36 EDT Lincoln Electric announces 14.3% boost to quarterly dividend to 64c - Lincoln Electric Holdings announced today that its Board of Directors has approved a 14.3% increase in the quarterly cash dividend, from 56c per share to 64c per share, or to $2.56 per share on an annualized basis. This marks the 27th consecutive annual increase of the dividend. The dividend is payable January 13, 2023 to shareholders of record at the close of business on December 31.
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VMEO | Hot Stocks16:31 EDT Vimeo reports 1% drop in YoY September subscribers - Reference Link
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LBRT | Hot Stocks16:31 EDT Liberty Energy reinstates 5c per share quarterly cash dividend - Liberty Energy announced that its Board of Directors has authorized the reinstatement of a quarterly cash dividend. The Board has declared a dividend of $0.05 per share of Class A common stock, to be paid on December 20, 2022 to holders of record as of December 6, 2022. A distribution of $0.05 per unit has been approved for holders of units in Liberty Oilfield Services New HoldCo LLC, which will use the same record and payment date. Liberty previously announced that its Board authorized on July 25, 2022, a share repurchase program that allows the company to repurchase up to $250 million of outstanding common stock through July 31, 2024. The program commenced during the third quarter and the Company has repurchased and retired 4,702,166 shares of Class A common stock, representing 2.5% of outstanding shares, for approximately $70 million at an average per share price of $14.89 through September 30, 2022.
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VMEO | Hot Stocks16:31 EDT Vimeo reports 1% drop in YoY September subscribers
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AMAM | Hot Stocks16:23 EDT Ambrx Biopharma pauses trials involving ARX788, to reduce workforce by 15% - Ambrx Biopharma announced a strategic reprioritization of its pipeline and provided a corporate update. The strategic assessment considered the company's cash runway, pipeline near term value creation opportunities, and other factors. As part of this strategic update, Ambrx will streamline its organization to improve efficiency and reprioritize its development pipeline to focus on oncology assets with the greatest potential and strong competitive profiles. In mid-August 2022, Ambrx announced that it would undertake a strategic review of its clinical development pipeline. Moving forward, the company plans to focus on leveraging its novel antibody-engineering technology to target cancer indications. Specifically, Ambrx has developed a proprietary, site-specific conjugation platform that provides homogenous ADCs with unmatched stability. With a narrower scope, Ambrx believes it is better positioned to progress future ADC assets. Ambrx will prioritize the progression of ARX517 through the clinic as the company's new lead asset. In August 2021, Ambrx announced the first patient was dosed with ARX517 in a Phase 1a clinical trial in subjects with PSMA-expressing tumors. Due to changes in the HER2 competitive landscape, Ambrx will no longer directly pursue our anti-HER2 antibody-drug conjugate, or ADC, asset ARX788 as its lead clinical asset. As such, the company will pause development of Ambrx-sponsored clinical trials involving ARX788. Instead, Ambrx will continue to work collaboratively with NovoCodex and seek a development partner(s) ex-China to progress ARX788. Ambrx plans to continue working collaboratively with NovoCodex, Sino Biopharm and BeiGene. Additional pipeline programs, ARX305 and ARX102, will continue in development. The two assets align with Ambrx's new development strategy of focusing on early-stage EPBs. Ambrx will leverage clinical data from its partners who are progressing the two assets to inform Ambrx-sponsored clinical trials. Ambrx will streamline its organization to reflect its new pipeline development focus. The company will reduce its workforce by approximately 15% while retaining and attracting key talent to support the clinical development of ARX517 and other assets. The company's search for a permanent CEO to lead Ambrx is ongoing. Until a permanent CEO is designated, Kate Hermans will continue to serve as interim CEO overseeing the company's new strategy. Ambrx expects its cash, cash equivalents and marketable securities as of June 30, 2022 to fund operations into 2025.
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SPNE | Hot Stocks16:23 EDT SeaSpine launches 7D FLASH Navigation System percutaneous spine module - SeaSpine Holdings announced the full commercial launch of the 7D FLASH Navigation System Percutaneous Spine Module. The release of the Percutaneous Module represents a new application and increased functionality for its 7D FLASH Navigation System, which now allows SeaSpine to further penetrate the minimally invasive spine surgery market, which SeaSpine estimates at approximately $4B worldwide. "The addition of the Percutaneous Module to the FLASH Navigation System has brought versatility to my OR," stated Dr. Douglas Orndorff of Spine Colorado. "Whether I am performing mini-open procedures, large revision surgeries, or MIS fusions, I can do them all with one system that optimizes my workflows depending on my approach. I'm also excited about the future launch of the Lumbar Facet Fusion system that will work seamlessly with the Percutaneous Module, enabling an integrated procedural solution for my patients."
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TSE | Hot Stocks16:22 EDT Trinseo weighs potential closure of Trinseo Deutschland facility - In response to the challenging macroeconomic environment, Trinseo is evaluating its asset footprint to improve its economic position and operating flexibility. The following initiatives are under consideration which in aggregate, under current market conditions, the Company believes would result in an annual profitability improvement of approximately $60 million. As previously announced, the Company has commenced discussions with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of this facility. If closed, styrene needs for Trinseo's downstream businesses would be obtained entirely via production at its Terneuzen, the Netherlands facility as well as from external purchases. Profitability at the Boehlen facility was approximately negative $30 million during the 12 months ending June 2022. The Company is evaluating steps to optimize its production and supply chain for polycarbonate (PC) and downstream PC Compounds. As part of this evaluation, the Company has initiated discussions with the Stade Works Council of Trinseo Anlagengesellschaft GmbH regarding the potential closure of one PC production line at the Company's Stade, Germany facility which would lower costs and greatly reduce exposure to the cyclical merchant PC market. The Company is evaluating restructuring its PMMA sheets business in North America and is considering a reduction of its SB Latex capacity at its Hamina, Finland plant starting in January 2023 due to the current over-capacity in Europe.
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UAL | Hot Stocks16:20 EDT United Airlines sees FY22 capacity vs. 2019 approximately (13%) - Sees FY22 adjusted CASM-ex vs. 2019 ~15%; adjusted CapEx $4.7B.
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BLNK | Hot Stocks16:20 EDT Blink Charging announces plans to increase U.S. manufacturing capabilities - Blink Charging announced, following a roundtable discussion with U.S. Secretary of Labor Marty Walsh, its commitment to establish a new manufacturing facility in the United States, which will create new jobs and increase charger production capacity to meet growing market demand. Blink has launched its search to locate a state-of-the-art manufacturing facility in the United States that will provide up to 200,000 square feet of space, with future potential growth, and will create an estimated 300 additional jobs for highly skilled workers such as engineers and manufacturing personnel to Blink's current workforce. The brand-new facility will utilize the latest technology to manufacture both DCFC and Level 2 Chargers. The facility will have initial production capacity of 10,000 DCFC, and 20,000 to 40,000 Level 2 chargers. Blink employs over 300 staff in the U.S. with its headquarters in Miami Beach, FL with other offices and facilities in Tempe, AZ, Bowie, MD, and Los Angeles, CA. Blink has retained the global commercial real estate services firm, Cushman & Wakefield, for its search and has narrowed the U.S. site location to a handful of states including Florida, Texas, Tennessee, and South Carolina.
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UAL | Hot Stocks16:19 EDT United Airlines sees Q4 capacity (9%)-(10%) vs. 2019 - Sees Q4 TRASM 24%-25% vs. 2019; adjusted CASM-ex 11%-12% vs. 2019; adjusted operating margin about 10%.
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WWD | Hot Stocks16:19 EDT Woodward announces new organizational structure, leadership changes - Woodward announced a streamlined Aerospace and Industrial organizational structure and leadership designed to enhance the sales experience for customers, simplify operations, and increase profitability through improved execution. Under the leadership of Chair and Chief Executive Officer Chip Blankenship, who joined Woodward in May, Woodward will consolidate its business group structure under its two existing business segments, Aerospace and Industrial, in the following manner: Aerospace Segment, Industrial Segment. Engine Systems and Turbomachinery Systems business groups will be combined within the Industrial Segment. In light of the organizational changes, Sagar Patel, who previously served as President, Engine Systems, will be leaving the company.Jeff Stewart, Vice President and General Manager, Turbomachinery Systems, is entering into phased retirement from the company after almost three decades at Woodward. Randy Hobbs will join Woodward as President of the Industrial Segment.
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HP | Hot Stocks16:19 EDT Helmerich & Payne announces FY23 capex budget of $425M-$475M - The Company "has set its initial FY23 capex budget to range between $425M and $475M, representing a sizeable sequential increase and highlighting the capital-intensive nature of H&P's business as well as planned international expansion. H&P's North America Solutions segment accounts for approximately two-thirds of the expected spend as the Company plans to reactivate up to 16 idle rigs from its super-spec FlexRig(R) fleet, of which six rigs will be converted to a walking configuration and as maintenance capex per rig is expected to modestly exceed the high-end of the historic normalized range. The Company's International Solutions segment accounts for roughly a quarter of the planned expenditures in anticipation of reactivating more rigs during the fiscal year, upgrading five rigs in Argentina to super-spec and converting six additional super-spec rigs domiciled in the U.S. to walking configurations that are currently planned to be exported to international operations later in the fiscal year. The remainder of the fiscal 2023 capex budget is slated for corporate and information technology purposes as the Company continues to invest in and modernize its own operational and business-driven technologies."
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HP | Hot Stocks16:18 EDT Helmerich & Payne announces $100M supplemental shareholder return plan - The Company "has established its 2023 supplemental shareholder return plan, which is currently projected to provide approximately $100 million in additional cash returns to shareholders in the form of additional dividends. These supplemental dividends are expected to be paid in four, approximately equal, installments during fiscal 2023. These additional cash returns represent approximately 50% of the Company's projected cash flow generation in fiscal 2023 after planned capital expenditures and after the Company's already established "base" annual dividend of $1.00/share, which is roughly $110 million on an annualized basis. Under the plan, the Company may utilize remaining cash flow projected to be generated in fiscal year 2023, after planned capital expenditures, established base and supplemental dividends, as well as cash on hand, to fund additional supplemental dividends or opportunistically repurchase shares of its common stock under its evergreen four million shares per annum repurchase authorization. Such repurchases will be dependent upon several factors, including market and industry conditions and other investment opportunities available to the Company. The 2023 supplemental shareholder return plan is specific to fiscal year 2023 and is derived from current forecasts and projections for fiscal year 2023, which are subject to change based on industry factors and market conditions. The intention is to refresh the plan in subsequent fiscal years with adjustments made based on relevant factors and market conditions at that time, including the Company's projected cash flow generation, and accretive investment opportunities."
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WISH | Hot Stocks16:17 EDT ContextLogic announces strategic partnerships with Moovin, Serpost - ContextLogic announced strategic partnerships with two Latin American logistics providers - Moovin in Costa Rica and Servicios Postales del Peru (Serpost) in Peru. The partnerships are set to reduce delivery times by more than 15 days, making Wish one of the fastest cross-border ecommerce platforms in both markets. "We have a unique opportunity in Costa Rica and Peru to become the go-to platform for users seeking to buy goods from abroad. Our partnership with Moovin and Serpost is an important first step in cementing our position as one of the leading cross-border platforms in the region," said Francisco Javier Miranda, Senior Manager of Logistics for Wish for Latin America. "We're excited to be partnering with two of the most trusted names in logistics in the region to help reduce delivery times and provide a better experience for our consumers."
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VICI | Hot Stocks16:16 EDT VICI Properties to partner with Canyon Ranch - VICI Properties "announced that it has entered into a delayed draw term loan facility for up to $200M to fund the development of Canyon Ranch's newest wellness-resort offering, Canyon Ranch Austin in Austin, Texas. CThe transaction enhances VICI's embedded growth pipeline with a call right to acquire the real estate of Canyon Ranch Austin upon stabilization and a purchase option for the real estate of Canyon Ranch Tucson in Tucson, Arizona and Canyon Ranch Lenox in Lenox, Massachusetts should Canyon Ranch elect to sell the real estate of either property. If the call right or purchase options are exercised, Canyon Ranch would continue to operate the wellness resorts subject to a long-term triple net lease with VICI. Canyon Ranch Austin is expected to begin welcoming guests as the fourth all-inclusive wellness resort in the Canyon Ranch portfolio in 2025."
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LPI | Hot Stocks16:14 EDT Laredo Petroleum sees Q4 CapEx $135M-$145M - Realized Pricing and Commodity Settlements. Realized prices for oil, NGL and natural gas for third-quarter 2022 were approximately $96.00 per barrel, $29.10 per barrel and $5.90 per Mcf, respectively. Net settlements paid for matured commodity derivatives for third-quarter 2022 totaled ~$125M . Capital Investments. Total incurred capital expenditures during the third quarter were ~$140M, excluding non-budgeted acquisitions and leasehold expenditures, higher than guidance of ~$120M Increased investments were related to the timing of drilling and completions activity and facilities/infrastructure build out. Fourth-quarter 2022 capital expenditures are expected to be $135 - $145 million, in-line with third-quarter 2022 levels.
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UAL | Hot Stocks16:13 EDT United Airlines jumps 6% to $39.50 after Q3 results beat estimates
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BSQR | Hot Stocks16:13 EDT Bsquare to present plan to declassify the board of directors - Bsquare announced that it entered into a Cooperation Agreement with Richard Karp, a large shareholder. Pursuant to the Agreement the Company agreed to present a plan to declassify the board of directors to shareholders at the 2023 annual meeting of shareholders, tentatively planned for June 2023. The plan will seek to eliminate board classes in a phased manner over 3 years resulting in one year terms for all directors. The plan is not being presented at, and has no effect on, the annual meeting of shareholders scheduled to occur on November 29. In addition to the declassification plans, as a part of this Agreement, Karp has withdrawn his director nominees for the 2022 Annual Meeting.
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CL | Hot Stocks16:13 EDT Third Point: 'Meaningful hidden value' in Colgate's Hill's Pet Nutrition unit
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LPI | Hot Stocks16:12 EDT Laredo sees Q4 total & oil production 72.5-75.5 and 32.0 -34 MBOEPD respectively - The Company expects fourth-quarter 2022 total and oil production to be 72.5 - 75.5 MBOEPD and 32.0 - 34.0 MBOPD, respectively. Updated fourth-quarter expectations include revised assumptions related to the impact of offset operator completions, production downtime due to increased equipment lead times and an ~1.6 MBOEPD reduction in volumes related to the divestiture of non-operated acreage, which closed on October 3.
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CL | Hot Stocks16:12 EDT Third Point confirms 'significant position' in Colgate-Palmolive - Third Point confirmed in its Q3 investor letter that it recently acquired a "significant position" in Colgate-Palmolive. It said "The investment fits several important criteria in the current investment environment. First, the business is defensive and has significant pricing power in inflationary conditions. Second, there is meaningful hidden value in the company's Hill's Pet Nutrition business, which we believe would command a premium multiple if separated from Colgate's consumer assets. Third, there is a favorable industry backdrop in consumer health, with new entrants via spin-offs and potential for consolidation. Finally, the current valuation is attractive both because earnings growth is poised to inflect higher, and because shareholders are paying very little for the optionality around Hill's or Colgate's ability to participate in further consolidation in the consumer health sector... Colgate's valuation provides a strong margin of safety coupled with significant upside. On our numbers, shares now trade for a low 20x multiple on CY23 EPS. Looking ahead, we see shares compounding at a mid to high teens rate over the next several years just from earnings growth and the nearly 3% dividend. Any strategic actions around Hill's or the consumer health sector could add materially to our expected return."
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UAL | Hot Stocks16:11 EDT United Airlines reports Q3 capacity down 9.8% vs. 3Q19 - Reports Q3: TRASM of up 25.5% compared to third quarter 2019; CASM of up 27.8%, and CASM-ex of up 14.5%, compared to third quarter 2019; operating margin of 11.3%, adjusted operating margin of 11.5%. Reported third quarter 2022 pre-tax margin of 9.0%, adjusted pre-tax margin1 of 8.9%.
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PRPL | Hot Stocks16:10 EDT Purple Innovation appoints Keira Krausz as Chief Marketing Officer - Purple Innovation announced the appointment of Keira Krausz as its Chief Marketing Officer, effective November 1. Krausz replaces Patrice Varni, who stepped down to pursue other interests. Krausz will report to DeMartini and oversee all aspects of the company's marketing efforts, playing a key role in supporting Purple's future growth plans. Krausz is a proven Direct-to-Consumer marketer with significant brand management experience. Most recently, Krausz served as Chief Marketing Officer of HealthPlanOne, a digital health distribution platform. Prior to that, Krausz was Chief Marketing Officer for the then NASDAQ-traded Nutrisystem where her responsibilities included retail, omni-channel DTC marketing, creative, site and app development, sales and customer care. During her tenure, revenues nearly doubled, and EBITDA increased by four-fold. Upon the effectiveness of her appointment, Krausz will receive an equity grant valued at $400,000 based on the market price of the Company's Class A Common Stock. This grant will consist of performance share units, or PSUs. The PSUs will have a three-year cliff vesting schedule and are contingent on the stock price achieving certain performance targets.
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UAL | Hot Stocks16:09 EDT United Airlines expects Q4 adjusted operating margin to exceed 2019 level - Looking forward through the end of the year, the airline expects the strong COVID recovery trends to continue to overcome the recessionary pressures in the macroeconomic environment. The airline now expects fourth quarter adjusted operating margin to be above 2019 for the first time. The company also remains confident in the 2023 United Next adjusted pre-tax margin target of ~9%. The company believes there are three durable trends for air travel demand that are more than fully offsetting any economic headwinds: air travel is still in the COVID recovery phase, hybrid work gives customers the freedom and flexibility to travel for leisure more often, and external supply challenges will limit industry supply for years to come.
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ADBE | Hot Stocks16:09 EDT Adobe says FY23 guidance does not reflect planned acquisition of Figma - Adobe is providing preliminary fiscal year 2023 targets, which do not reflect the planned acquisition of Figma that is expected to close during 2023. These targets factor in current expectations for the macroeconomic environment and foreign exchange headwinds resulting from the U.S. Dollar having strengthened against foreign currencies. Changes to foreign exchange rates are expected to: Result in an approximately four percent headwind to total revenue year-over-year growth rates in fiscal year 2023; Result in an approximately $700 million downward revaluation to Adobe's total Digital Media annualized recurring revenue (ARR) balance. As a reminder, ARR is forecasted annually at December currency rates, and currency rates are held constant through that fiscal year for measurement purposes; end-of-year actual ARR balances are revalued at new December rates for the next fiscal year. Adobe sees FY23 digital media net new ARR $1.65B, digital media segment revenue $13.9B-$14B. Sees FY23 digital experience segment revenue $4.925B-$5.025B, with subscription revenue $4.375B-$4.425B. "Our strategy to empower everyone to imagine and express their ideas, create the world's best content and applications and power personalized digital experiences represents a massive market opportunity that will drive Adobe's next decade of growth," said Shantanu Narayen, chairman and CEO, Adobe. "Adobe's continued success in this uncertain macroeconomic environment underscores that our solutions are mission-critical to a growing universe of customers."
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LPI | Hot Stocks16:08 EDT Laredo Petroleum Q3 total production averaged ~79.5K MBOEPD - The Company's third-quarter 2022 total production averaged ~79.5 thousand barrels of oil equivalent per day or MBOEPD, within guidance of 78.5 - 81.5 MBOEPD. Oil production for the quarter averaged ~35.0 thousand barrels of oil per day , below guidance of 35.5 - 37.5 MBOPD. Oil production was negatively impacted as offset operator completions in Howard County affected more Laredo wells than expected. Of the impacted wells, newer, higher-production packages have returned to previous production expectations while older packages are taking longer than anticipated to return to expected production levels.
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NFLX | Hot Stocks16:08 EDT Netflix says 'no change to our capital allocation approach' - In its quarterly letter to investors, Netflix said: "We have no debt maturities in 2023. In early October, we closed our previously announced acquisition of leading animation studio Animal Logic. We funded the transaction with cash, which will be reflected in our Q4'22 cash flow statement. There's no change to our capital allocation approach. Our first priority is to continue to invest appropriately in our business for the long term, including new initiatives such as games and advertising, followed by selective acquisitions. After that, excess cash above our minimum cash levels - equivalent to roughly two months of revenue - will be returned to shareholders through share repurchases."
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GTIM | Hot Stocks16:08 EDT Good Times Restaurants reports Q4 Good Times brand SSS up 5.9% - Good Times Restaurants announced that same store sales for its fourth fiscal quarter ended September 27, 2022 increased 5.9% for its Good Times brand and increased 3.7% for its Bad Daddy's brand, and that average weekly sales were $29,896 and $49,945 for its Good Times brand and for its Bad Daddy's brand, respectively, for the fourth fiscal quarter. For the full fiscal year, same store sales increased 1.1% for its Good Times brand and increased 11.2% for its Bad Daddy's brand, and average weekly sales were $27,974 and $49,425 for its Good Times and Bad Daddy's brands, respectively, for the full fiscal year. Ryan Zink, President and CEO, said, "The performance of both of our brands during the fourth quarter demonstrate the continuing dedication of our teams and the relevance of both of our brands in an extremely competitive environment. With year-over-year menu price increases that averaged approximately 7.7% for Good Times and 5.7% for Bad Daddy's during the quarter, our low single-digit traffic declines are favorable to what is being reported by Black Box Intelligence for the QSR and Casual Dining segments during the quarter. Our sales results are a direct result of restaurant managers overcoming persistent staffing challenges and all our people, at every level, thinking creatively to deliver exceptional service and high-quality products to our guests."
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KAMN | Hot Stocks16:07 EDT Kaman announces new K-MAX order from North American Helicopter - Kaman Air Vehicles, a division of Kaman, announced the receipt of a signed purchase agreement from North American Helicopter for a K-MAX(R) medium-to-heavy lift helicopter with delivery expected in the fourth quarter of 2022.
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AMWD | Hot Stocks16:07 EDT American Woodmark invests $65M to expand capacity in North Carolina and Mexico - American Woodmark Corporation will increase its stock kitchen and bath cabinet capacity for east coast markets. The project will represent a total expected capital investment of approximately $65M over the next two years and result in the creation of more than 500 new jobs. The company expects to pay for this investment with cash on hand and borrowings from its revolving credit facility. "Our company strategy is focused on Growth, Digital Transformation and Platform Design or "GDP". Following a comprehensive review of our platform, we identified the need for additional capacity in our stock kitchen and bath cabinetry product lines. By adding a fourth facility in Mexico and expanding the Hamlet, North Carolina location, we will strengthen our overall supply chain and allow for incremental capacity in both categories on the east coast, which is one of the largest repair/remodel and new construction markets," said Scott Culbreth, President and Chief Executive Officer.
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ADBE | Hot Stocks16:07 EDT Adobe reaffirms Q4 financial targets
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UVE | Hot Stocks16:06 EDT Universal Insurance names William Degnan chief claims officer - Universal Insurance Holdings, Inc. announced that William Degnan has been appointed Chief Claims Officer. Degnan was previously Executive Vice President, Claims of Alder Adjusting Corporation, Universal's wholly owned claims adjusting subsidiary. Degnan will continue to lead enterprise-wide claims processing and adjusting, overseeing over 300 professionals and multiple third-party relationships. "William has been instrumental to our claims department, helping to develop a first class organization that allows us to better serve our policyholders," said Steve Donaghy, Chief Executive Officer. "William has spearheaded multiple initiatives, ultimately leading to increased customer satisfaction, and, under his leadership, we've increased technology adoption, leading to increased efficiency and productivity."
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NFLX | Hot Stocks16:05 EDT Netflix up 11% after Q3 report, Q4 guidance - Netflix shares are up $25.91, or 11%, to $266.77 in after-hours trading.
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NFLX | Hot Stocks16:04 EDT Netflix says won't provide guidance for paid membership as of Q4 letter - Netflix said: "As discussed in previous letters, we are increasingly focused on revenue as our primary top line metric. This will become particularly important heading into 2023 as we develop new revenue streams like advertising and paid sharing, where membership is just one component of our revenue growth. So, starting with our Q4'22 letter in January of 2023, we'll continue to provide guidance for revenue, operating income, operating margin, net income, EPS and fully diluted shares outstanding for the following quarter, but not paid membership. Similar to our regional membership disclosure, we'll continue to report our global and regional membership each quarter as part of our earnings release."
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CHCO | Hot Stocks16:03 EDT City Holding acquires Citizens Commerce Bancshares - City Holding, the parent company of City National Bank of West Virginia, announced today the signing of a definitive merger agreement in which City will acquire Citizens Commerce Bancshares, the parent company of Citizens Commerce Bank, Inc., Versailles, Kentucky. Upon completion of the merger, the subsidiary bank of Citizens will merge with and into City National Bank of West Virginia. Based upon financial data as of September 30, 2022, the combined company will have $6.2 billion in assets, deposits of $5.3 billion, and gross loans of $3.9 billion, strengthening City's presence in the Lexington, Kentucky MSA. "Our leadership recognized this strategic partnership to enhance our market presence in the Lexington, Kentucky area and we are excited to be adding the Citizens franchise to our Lexington footprint," remarked Charles R. (Skip) Hageboeck, President & Chief Executive Officer of City. The merger is expected to close in the first quarter of 2023, pending customary closing conditions, including receipt of required regulatory approvals and the approval by the shareholders of Citizens. Subject to the terms of the merger agreement, Citizens shareholders will receive 0.1666 shares of City common stock for each outstanding share of Citizens common stock. Based on City's 5-day average closing price of $92.60 as of October 17, 2022, this equates to a per share value of $15.43 and an aggregate deal value of $61.0 million. Michelle Oxley, President & Chief Executive Officer stated, "Partnering with City is the next, best step that we could take for our company, shareholders and customers. This partnership will provide our customers with additional resources while retaining the community banking culture that sets us apart. I am confident that this will be a seamless transition for our employees and customers while providing long-term value for our shareholders. City is a great franchise, and I look forward to the future ahead for our combined company." The merger agreement has been unanimously approved by the City board of directors and by the Citizens board of directors.
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OTEX | Hot Stocks16:03 EDT Micro Focus shareholders approve acquisition by OpenText - OpenText confirms that shareholders of Micro Focus International approved the terms of the recommended all-cash offer by OpenText, through its wholly-owned subsidiary, Open Text UK Holding Limited, to acquire the entire issued and to be issued share capital of Micro Focus and as announced on August 25.
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NFLX | Hot Stocks16:02 EDT Netflix sees Q4 global streaming paid net additions of 4.5M - Netflix said in its quarterly letter to investors: "For Q4'22, we're expecting revenue of $7.8 billion with the sequential decline entirely due to the continued strengthening of the US dollar vs. other currencies. On a constant currency basis, this equates to 9% year-over-year revenue growth. Our revenue growth forecast is driven by our expectation for 4.5m paid net adds (vs. 8.3m in Q4'21) and ARM growth of 6% year-over-year, excluding F/X. Our paid net adds forecast assumes that we experience our usual seasonality as well as the impact of a strong content slate, counterbalanced by macroeconomic weakness which leads to less-than-normal visibility. While we're very optimistic about our new advertising business, we don't expect a material contribution in Q4'22 as we're launching our Basic with Ads plan intra-quarter and anticipate growing our membership in that plan gradually over time."
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PTCT | Hot Stocks16:02 EDT PTC Therapeutics begins enrollment for Phase 2 PIVOT-HD trial of PTC518 - PTC Therapeutics confirmed that enrollment is active and ongoing for its Phase 2 PIVOT-HD trial of PTC518 for the treatment of Huntington's disease at study sites globally. To date, PTC has received approval for conduct of the planned 12-month study in several European countries as well as Australia. The Phase 2 PIVOT-HD study consists of two parts; an initial 12-week placebo-controlled part focused on PTC518 pharmacology and pharmacodynamic effect, followed by a 9-month placebo-controlled part, during which blood, CSF, and radiographic biomarker data will be collected. The study will initially include two dose levels, 5 milligrams and 10 milligrams, with the potential to study a third dose leveraging the titratability of the drug. The approvals received to date for the 12-month study include both the 5mg and 10mg dose levels, as well as a potential third dose pending the results of the first two dosing cohorts. Enrollment in the 12-week portion of the study began first in the US and continues globally. To date there have been no treatment-related adverse events reported in the US or outside of the US. However, the FDA has requested additional data to allow the study to proceed in the US. Accordingly, enrollment in the US has been paused while discussions with the FDA continue towards resuming US enrollment. PTC is working towards sharing data from the 12-week portion of PIVOT-HD within the first half of 2023.
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NFLX | Hot Stocks16:02 EDT Netflix reports Q3 global streaming paid net additions of 2.41M - Netflix said in its quarterly letter to investors: "Our 6% year-over-year revenue growth in Q3 was driven by a 5% increase in average paid memberships and a 1% rise in ARM . Excluding the impact of foreign exchange, revenue and ARM grew 13% and 8% year-over-year, respectively. The sequential decline in revenue was entirely due to F/X. We under-forecasted paid net additions, which totaled 2.4 million vs. our 1.0m forecast and compared to 4.4m in the year ago quarter."
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ENB | Hot Stocks15:33 EDT Enbridge CEO Al Monaco retires, Greg Ebel to succeed - Enbridge recently announced Al Monaco's retirement as President and CEO and from its Board of Directors effective January 1, 2023. Concurrent with this announcement and after considering internal and external candidates, the Board of Directors has appointed Greg Ebel, currently Board Chair, to succeed Monaco as President and CEO. Ebel will also continue as a member of the Board of Directors. A new independent Board Chair will be named prior to January 1, 2023. To support Ebel through the transition, Monaco will serve as an advisor to March 1, 2023. Since 2017, Ebel has held the position of Chair of the Board which has, along with the Board, provided strategic oversight and leadership to the Company throughout its ongoing transformation.
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EDIT | Hot Stocks15:19 EDT Editas Medicine rises after report of talks to sell preclinical oncology assets - Shares of Editas are up 41c, or 3%, to $12.35 following the report from Endpoints News.
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ATVI | Hot Stocks15:10 EDT Activision confirms Modern Warfare 2 pre-load, early access times - Activision said in a release: "The release of Call of Duty: Modern Warfare II is just around the corner as we rapidly approach its October 28 launch date on PC. In partnership with Infinity Ward, Call of Duty PC lead developer Beenox shares some of the highlights coming to the PC version of the game...Preloading for Campaign early access on PC begins October 19 at 10 AM PT, with early access going live the next day on October 20 at 10 AM PT. Play alongside the members of Task Force 141, the Mexican Special Forces, and Shadow Company up to a full week before launch while earning Campaign completion unlocks that can be used in Multiplayer and Special Ops at launch.Preloading for the game's official launch, including Multiplayer and Special Ops, begins on October 26 at 10 AM PT, with the full title going live on October 27 at 9 PM PT." Reference Link
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BYD... | Hot Stocks14:54 EDT New Jersey reports September gaming revenue up 6.9% to $485M - On October 17, New Jersey's Division of Gaming Enforcement reported total gaming revenue reported by casinos, racetracks, and their partners was $485.0M for September 2022, reflecting a 6.9% increase from $453.6M reported in September 2021. Total casino win for the nine casino hotel properties was $251.7M, reflecting growth of 1.3% compared to $248.5M for September 2021. Internet gaming win reported by casinos and their partners was $135.2M, reflecting growth of 10.3% compared to $122.6M for the prior period. Sports wagering gross revenue reported by casinos, racetracks, and their partners was $98.0M for September 2022, reflecting an 18.9% increase when compared to $82.0M in the prior period. Publicly traded companies in the casino and online betting space include Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (PDYPY), Gan Limited (GAN), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn Entertainment (PENN), William Hill (WIMHY) and Wynn Resorts (WYNN). Reference Link
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EA | Hot Stocks14:06 EDT Electronic Arts says new 'Sims' game currently in development - Electronic Arts said that the team behind the "Sims" franchise is building the next generation game and creative platform, reimagining "The Sims" with even more new ways to play. The game, which is currently in its very early stages of development, has a working title "Project Rene." "This name was chosen to be reminiscent of words like renaissance and rebirth to represent the team's renewed commitment for The Sims' bright future," EA said. "Project Rene will fundamentally evolve how Sims think and behave, how players create and customize their worlds, and innovate in entirely new ways. To start, we are experimenting with creative tools, a key part of The Sims' DNA, and taking a look at what has worked before and how we can offer more flexibility to help with building and decorating in-game. With Project Rene, players will have the choice to play solo or collaborate with others, and will have the ability to play their game across supported devices." Reference Link
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AMZN | Hot Stocks13:52 EDT Amazon to invest more than EUR 1B to electrify European transportation network - Amazon announced plans to invest more than EUR 1B over the next five years to "further electrify and decarbonize its transportation network across Europe, delivering packages to customers more sustainably." Amazon said: "The investment is also intended to drive innovation across the industry and encourage more public charging infrastructure, which will help enable the broader transportation industry to more quickly reduce emissions. The company is already using thousands of zero-emission vehicles across its European operations, and this investment will add thousands more, accelerating Amazon's progress toward becoming net-zero carbon by 2040-10 years ahead of the Paris Agreement." Reference Link
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RYCEY | Hot Stocks13:43 EDT Rolls-Royce unveils its first electric car, the Spectre - Reference Link
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SPY... | Hot Stocks13:22 EDT BoE says first gilt sale operation will now take place November 1 - "On 28 September, the Bank of England's Executive postponed the start of sales of UK government bonds held in the Asset Purchase Facility, APF. in light of market conditions at that time. The first gilt sales operation was scheduled to take place on October 31 and proceed thereafter. In light of the Government's fiscal announcement now scheduled for October 31, the first gilt sale operation will now take place on 1 November. The Bank currently expects to conduct APF gilt sales operations in Q4 at a similar size and frequency as had been previously announced, with any shortfall as a result of the earlier postponement relative to its previous sales plan incorporated into sales in subsequent quarters. For Q4, these APF gilt sales operations will be distributed evenly across the short and medium maturity sectors only. These sectors are defined as: gilts with a residual maturity of between 3-7 years and those with a residual maturity of between 7-20 years. The maturity split of gilt sales for subsequent quarters will be considered ahead of Q1 2023.The dates and sizes for the individual auctions will be confirmed in a Market Notice, which the Bank expects to publish at 6pm on 20 October," said the Bank of England on October 18, in a release. https://www.bankofengland.co.uk/news/2022/october/boe-confirms-apf-gilts-sales-for-q4-2022
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COP... | Hot Stocks12:40 EDT NJ sues oil companies for misleading public about climate change - New Jersey Attorney General Matthew Platkin, the New Jersey Division of Consumer Affairs and the Department of Environmental Protection today filed a lawsuit on behalf of New Jersey residents against five oil and gas companies and a petroleum trade association, alleging "they knowingly made false claims to deceive the public about the existence of climate change and the degree to which their fossil fuels products have been acerbating anthropogenic global warming." The suit names as defendants Exxon Mobil (XOM), Shell Oil (SHEL), Chevron (CVX), BP (BP), ConocoPhillips (COP), and the trade group in which these defendants were members - American Petroleum Institute. In addition to asking the court for an injunction ordering the energy companies to "stop deceiving New Jersey consumers about the destructive environmental impacts of fossil fuels," the state is seeking civil monetary penalties and damages, including natural resource damages. According to the complaint, the oil and gas companies researched the link between fossil-fuel consumption and climate change starting as early as the 1950s, and by the mid-60s "gained a comprehensive understanding of the adverse climate impacts of fossil fuels." However, according to the complaint, the defendant oil and gas producers "worked to manufacture doubt about the existence and causes of climate change." Reference Link
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NVDA ORCL | Hot Stocks12:03 EDT Oracle, Nvidia announce multi-year accelerated computing partnership - Oracle (ORCL) and Nvidia (NVDA) announced a multi-year partnership "to help customers solve business challenges" with accelerated computing and artificial intelligence. The collaboration aims to bring the full Nvidia accelerated computing stack to Oracle Cloud Infrastructure. Oracle "is adding tens of thousands more NVIDIA GPUs, including the A100 and upcoming H100, to its capacity. Combined with OCI's AI cloud infrastructure of bare metal, cluster networking, and storage, this provides enterprises a broad, easily accessible portfolio of options for AI training and deep learning inference at scale," the companies said in a statement.
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MREO | Hot Stocks12:01 EDT Rubric reiterates call for board change at Mereo after operating plan update - Rubric Capital Management, an investment advisor whose funds and accounts collectively own approximately 14% of the outstanding equity of Mereo BioPharma, issued the following statement in response to the Company's updated operating plan: "We commend Mereo management for heeding our call for action and taking the painful but necessary step of streamlining operations in order to preserve cash. At the time of the alvelestat data release in May through today, Mereo has improved its cash runway by two years and refocused resources on its most valuable programs. Unfortunately, in the second quarter alone, Mereo burned approximately GBP 9 million of cash, which the company clearly recognizes is unsustainable. We do not believe this action would have been taken without Rubric's public engagement and, while this step is encouraging, we believe there is more work that can be done to unlock value at Mereo. Mereo's actions today confirm that our proxy contest has shaken the boardroom of Mereo off the autopilot it has been operating on for years, but this is not enough - active corporate governance paired with direct alignment with shareholders is necessary to achieve maximum value. Rubric's slate of director nominees is highly qualified to drive further necessary change that is in the best interests of shareholders. We look forward to the general meeting and encourage all shareholders to vote in order to achieve further value enhancement led by our nominees."
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NINE | Hot Stocks12:00 EDT Nine Energy Service falls -10.8% - Nine Energy Service is down -10.8%, or -46c to $3.78.
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SFBS | Hot Stocks12:00 EDT ServisFirst falls -12.7% - ServisFirst is down -12.7%, or -$11.07 to $75.78.
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SI | Hot Stocks12:00 EDT Silvergate Capital falls -21.7% - Silvergate Capital is down -21.7%, or -$15.37 to $55.42.
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CCL | Hot Stocks12:00 EDT Carnival rises 8.8% - Carnival is up 8.8%, or 64c to $7.91.
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MITT | Hot Stocks12:00 EDT AG Mortgage rises 10.3% - AG Mortgage is up 10.3%, or 39c to $4.18.
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NTCO | Hot Stocks12:00 EDT Natura &Co rises 14.3% - Natura &Co is up 14.3%, or 70c to $5.58.
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AMWD | Hot Stocks11:58 EDT American Woodmark to expand operations in Hamlet, North Carolina - American Woodmark Corporation will expand its operations in Hamlet, North Carolina creating 131 jobs in Richmond County. Although wages for the new jobs will vary depending on position, the average salary will be $44,748, which is above the current average wage in Richmond County of $38,035. American Woodmark's project in North Carolina will be facilitated, in part, by a Job Development Investment Grant approved by the state's Economic Investment Committee . Over the course of 12 years, the project is estimated to grow the state's economy by $185.8M. Using a formula that takes into account the new tax revenues generated by the new jobs, as well as a capital investment of $36.2M, the agreement authorizes the potential reimbursement to the company of up to $1,086,000, spread over 12 years. The company's capital investment will be funded through American Woodmark's direct capital investment and amortized lease costs.
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INPX | Hot Stocks11:42 EDT Inpixon trading resumes
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INPX | Hot Stocks11:37 EDT Inpixon trading halted, volatility trading pause
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STT | Hot Stocks11:27 EDT State Street raises FY22 NII view to up 28%-30% from up 24%-27%
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STT | Hot Stocks11:26 EDT State Street sees Q4 NII up 4%-10% - Sees Q4 fee revenue down 3% on sequential basis.
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DNUT MCD | Hot Stocks11:15 EDT Krispy Kreme up 8% after reports of McDonald's testing donut sales partnership - Shares of Krispy Kreme (DNUT) are up 8% to $13.98 after McDonald's (MCD) is reported to have said it will start a test of selling three varieties of Krispy Kreme doughnuts at nine locations in restaurants in Kentucky
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STT | Hot Stocks11:11 EDT State Street in ongoing dialogue with regulators over BBH deal - Says likelihood of a successful outcome is increasingly uncertain. Says continues to believe strategic rationale for deal is compelling. Expects to reach a decision on whether the transaction can proceed forward in Q4.
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STT | Hot Stocks11:08 EDT State Street says remains focused on controlling expense growth - Says global operating environment continues to be challenging. Says continues to carefully navigate business for environment. Says maintained strong balance sheet and capital position. Says business momentum was solid in Q3. Says remain excited by global advisor strategy. Comments taken from Q3 earnings conference call.
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LMT | Hot Stocks11:07 EDT Lockheed Martin examining cost reduction opportunities, portfolio review
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LMT | Hot Stocks11:05 EDT Lockheed Martin expects 'solid' growth in FCF in 2023 and thereafter
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LMT | Hot Stocks11:04 EDT Lockheed Martin now expects to return to growth in 2024
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LMT | Hot Stocks11:04 EDT Lockheed Martin 'on track' to hit FY outlook for all financial metrics - Comments taken from Q3 earnings conference call.
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AAPL | Hot Stocks11:02 EDT Apple unveils redesigned iPad in four colors - Apple introduced the new iPad with an all-screen design featuring a 10.9-inch Liquid Retina display. Apple said: "The new iPad is powered by the A14 Bionic chip, which delivers even faster performance with incredible power efficiency for demanding tasks while still providing all-day battery life.1 Updated cameras include an Ultra Wide 12MP front camera located along the landscape edge of iPad for an even better video calling experience, and an updated 12MP back camera to capture sharp, vivid photos and 4K video. A USB-C port supports a wide range of accessories, Wi-Fi 6 brings even faster connections, and cellular models feature superfast 5G so users can stay connected on the go. Designed specifically for the new iPad, the all-new Magic Keyboard Folio features an incredible typing experience, a click-anywhere trackpad, and a versatile two-piece design. With iPadOS 16 and support for Apple Pencil, iPad offers users more ways to be creative and productive. The new iPad is available to order starting today, with availability in stores beginning Wednesday, October 26." The iPad features an all-screen design in blue, pink, yellow and silver, Apple said.
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AAPL | Hot Stocks11:01 EDT Apple introduces next generation iPad Pro - Apple announced the new iPad Pro with the M2 chip. The iPad Pro "delivers the ultimate combination of portability, versatility, and unbelievable performance. The new iPad Pro features a next-level Apple Pencil hover experience and superfast wireless connectivity, along with the world's most advanced mobile display, pro cameras, Face ID, Thunderbolt, and a four-speaker audio system. New features in iPadOS 16 - including Stage Manager, full external display support, desktop-class apps, and Reference Mode - take pro workflows on iPad even further. Enabled by its advanced hardware and iPadOS 16, iPad Pro has an incredible ecosystem of powerful pro apps unlike any other device of its kind. The new iPad Pro is available to order starting today, and in stores beginning Wednesday, October 26."
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AAPL | Hot Stocks11:01 EDT Apple introduces next-generation Apple TV 4K - Apple announced the next generation of Apple TV 4K, calling the device "more powerful, entertaining, and affordable than ever, and offering impressive cinematic quality." Apple said: "Driven by the A15 Bionic chip that delivers faster performance and more fluid gameplay, the new Apple TV 4K features endless entertainment options for everyone to enjoy on the biggest screen in the home." The new Apple TV 4K is available in two configurations: Apple TV 4K Wi-Fi, which offers 64GB of storage; and Apple TV 4K Wi-Fi + Ethernet, which offers support for Gigabit Ethernet for fast networking and streaming, Thread mesh networking protocol to connect even more smart home accessories, and twice the storage for apps and games. Customers can order the new Apple TV 4K with Siri Remote today at a new starting price of $129, with availability beginning Friday, November 4, Apple stated. Reference Link
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PTON | Hot Stocks10:52 EDT Peloton Chief People Officer Shari Eaton to leave company - Peloton's Chief People Officer Shari Eaton is leaving the company for another opportunity, she announced in a LinkedIn post Tuesday. Eaton said: "To John Foley, Hisao Kushi, Tom Cortese, and the rest of the founders - the vision, mission and values you architected have created a very special culture and one I have been honored to nurture during my time as a team member... Thank you Barry McCarthy for believing in me and trusting me to work alongside you during this important transformational time. I will continue to be a passionate cheerleader, member, and shareholder of this company. I do not want my departure to call into question how much I believe in the power of this brand and the goodness it brings to 7 million members worldwide." Reference Link
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SPLK CRM | Hot Stocks10:24 EDT Starboard's Smith says Splunk 'may be a candidate to be taken over' - Starboard Value's Jeff Smith, who has taken a stake in Splunk (SPLK), continues being interviewed by CNBC's David Faber from the 13D Monitor conference. Splunk, similar to Salesforce (CRM), is "amazing," Smith added.
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HCMLY | Hot Stocks10:23 EDT Holcim says Lafarge to pay $778M to Justice Department for terrorist support - Holcim said its supports the agreement reached by Lafarge with the U.S. Department of Justice to resolve the DOJ's inquiry into Lafarge and its "long-defunct" subsidiary Lafarge Cement Syria "related to the legacy conduct" of certain former executives during the Syrian civil war, before Holcim acquired Lafarge SA. Under the terms of the resolution, Lafarge SA and Lafarge Cement Syria will pay a financial penalty of $777.78M and have agreed to plead guilty to one count of conspiring to provide material support to designated foreign terrorist organizations in Syria between August 2013 and October 2014. "None of the conduct involved Holcim, which has never operated in Syria, or any Lafarge operations or employees in the United States, and it is in stark contrast with everything that Holcim stands for. The DOJ noted that former Lafarge SA and LCS executives involved in the conduct concealed it from Holcim before and after Holcim acquired Lafarge SA, as well as from external auditors," the company said in a statement.
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CRM | Hot Stocks10:22 EDT Starboard's Smith says 'we want to be long-term owners of Salesforce' - Starboard Value's Jeff Smith, who has taken a stake in Salesforce, continues being interviewed by CNBC's David Faber from the 13D Monitor conference.
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CRM | Hot Stocks10:18 EDT Starboard's Smith says Salesforce should be at same margins as peers or higher - Starboard Value's Jeff Smith, who has taken a stake in Salesforce, continues being interviewed by CNBC's David Faber from the 13D Monitor conference.
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CRM | Hot Stocks10:16 EDT Starboard's Smith says Salesforce 'a great company,' has had 'great' talks - Starboard Value's Jeff Smith is being interviewed by CNBC's David Faber from the 13D Monitor conference. Smith has taken a stake in Salesforce, says being able to invest in the "great company" is an "opportunity." Smith says Starboard has had "great conversations" with Salesforce.
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GME | Hot Stocks10:06 EDT GameStop chairman Cohen posts picture with Carl Icahn - GameStop chairman Ryan Cohen posted last night on Twitter a picture of him and activist investor Carl Icahn. Shares of GameStop are up 3% to $26.73 in morning trading. Reference Link
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LGF.A | Hot Stocks10:05 EDT Lionsgate, Autograph partner with Internet Game for 'SAW' games - Autograph announced a new collaboration with Internet Game to launch the next phase of its partnership with global content leader Lionsgate. Just in time for Halloween, the companies will release a new web3 experience tied to Lionsgate and Twisted Pictures' iconic horror film franchise SAW. In the new experience, a special third season of Internet Game, players will have the opportunity to participate in three SAW-themed games across three days to win top prizes. In the spirit of SAW, players who "survive" all three mini-games with the most amount of in-game health have the opportunity to win top prizes, including a combination of bespoke SAW NFTs with exciting experiences and blue chip NFTs. Top prizes include an on-set tour of the next SAW film, a Mutant Ape NFT, a winner having their name appear in the next SAW film, a trip to the new SAW: The Experience in London, a Doodles NFT, and more.
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UTZ | Hot Stocks10:03 EDT Utz Brands expands portfolio of snack foods to all 112 Schnucks stores - Utz Brands is pleased to expand its portfolio of snack foods to all 112 Schnucks stores. Schnucks, a leading grocery retailer, has stores conveniently located throughout Missouri, Illinois, Indiana, and Wisconsin.
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STBA | Hot Stocks10:02 EDT S&T Bancorp increases quarterly dividend to 31c - The Board of Directors of S&T Bancorp approved a 31c per share cash dividend on October 17, 2022. This is an increase of 1c, or 3.3%, compared to a cash dividend of 30c per shared declared in the prior quarter and a 2c, or 6.9%, increase compared to the same period in the prior year. The annualized yield using the October 17, 2022 closing price of $32.08 is 3.9 percent. The dividend is payable November 17, 2022 to shareholders of record on November 3, 2022.
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IZEA | Hot Stocks10:02 EDT Izea announces launch into UK market - IZEA Worldwide announced its launch in the UK market. IZEA President and Chief Operating Officer Ryan Schram said: "The influencer industry in the UK, as in many other markets, has tremendous growth potential, but lacks the expertise and innovation required by top marketers. We'd like to be instrumental in helping it structure for even greater success to better serve brands, agencies, and creators. Providing all of our clients with flexible access to influencer services and detailed performance data sits at the heart of how IZEA does things. Insights from the nearly four million collaborations we have run give us a powerful level of predictive analysis and the ability to guarantee results."
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BOAS | Hot Stocks10:00 EDT BOA Acquisition falls -7.7% - BOA Acquisition is down -7.7%, or -76c to $9.14.
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SFBS | Hot Stocks10:00 EDT ServisFirst falls -8.7% - ServisFirst is down -8.7%, or -$7.59 to $79.26.
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SI | Hot Stocks10:00 EDT Silvergate Capital falls -14.6% - Silvergate Capital is down -14.6%, or -$10.36 to $60.43.
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MITT | Hot Stocks10:00 EDT AG Mortgage rises 13.5% - AG Mortgage is up 13.5%, or 51c to $4.30.
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FUBO | Hot Stocks10:00 EDT FuboTV rises 15.5% - FuboTV is up 15.5%, or 63c to $4.68.
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NTCO | Hot Stocks10:00 EDT Natura &Co rises 17.0% - Natura &Co is up 17.0%, or 83c to $5.71.
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SKX | Hot Stocks09:58 EDT Skechers sues Hermes for patent infringement of MASSAGE FIT technology - Skechers USA announced that it has sued Hermes International and Hermes of Paris for patent infringement of its proprietary MASSAGE FIT sole technology. The lawsuit was filed in the United States District Court for the Southern District of New York in Manhattan. The company said, "In 2022, Hermes introduced two footwear styles, the Eclair and Envol, which incorporate mid-sole and undersole design elements that infringe multiple Skechers patents for its MASSAGE FIT technology that Skechers incorporates into its highly successful SKECHERS GO WALK series, as well as other product lines."
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KPRX | Hot Stocks09:51 EDT Kiora Pharmaceuticals Inc trading resumes
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CL | Hot Stocks09:50 EDT Colgate-Palmolive up after CNBC says Loeb's Third Point building stake - Shares of Colgate-Palmolive are up about 3%in early trading following David Faber's on-air reporting about activist Dan Loeb's Third Point fund building a stake in the consumer goods maker. Loeb sees hidden value in Colgate's subsidiary, Hill's Pet Nutrition, if it were spun off, according to CNBC's reporting. The activist hedge fund manager added that consolidation in the consumer health sector "point to more opportunities for Colgate," according to CNBC. Reference Link
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FAZ | Hot Stocks09:47 EDT Direxion Financial Bear 3x falls -7.1% - Direxion Financial Bear 3x is down -7.1%, or -$1.79 to $23.52.
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TZA | Hot Stocks09:47 EDT Small Cap Bear 3x falls -7.7% - Small Cap Bear 3x is down -7.7%, or -$3.04 to $36.31.
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SI | Hot Stocks09:47 EDT Silvergate Capital falls -10.3% - Silvergate Capital is down -10.3%, or -$7.26 to $63.53.
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MITT | Hot Stocks09:47 EDT AG Mortgage rises 11.6% - AG Mortgage is up 11.6%, or 44c to $4.23.
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FUBO | Hot Stocks09:47 EDT FuboTV rises 12.8% - FuboTV is up 12.8%, or 52c to $4.57.
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NTCO | Hot Stocks09:47 EDT Natura &Co rises 17.8% - Natura &Co is up 17.8%, or 87c to $5.75.
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CL | Hot Stocks09:45 EDT Colgate-Palmolive up 3% after CNBC says Third Point built stake - Shares of Colgate-Palmolive are up $2.00, or 3%, to $74.14 following David Faber's on-air reporting about activist Dan Loeb's stake.
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ALLY | Hot Stocks09:43 EDT Ally Financial says Jennifer LaClair departed from CFO position - Ally Financial disclosed that Jennifer LaClair has departed from her position as Chief Financial Officer, effective October 18, and transitioned into the role of Senior Operating Adviser. Bradley Brown has been appointed Interim Chief Financial Officer. Brown has served as the Corporate Treasurer of Ally since November 2013. Shares of Ally Financial are down 4% to $28.78 in morning trading.
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GEHI | Hot Stocks09:41 EDT Gravitas Education Holdings trading resumes
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KPRX | Hot Stocks09:41 EDT Kiora Pharmaceuticals Inc trading halted, volatility trading pause
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GEHI | Hot Stocks09:36 EDT Gravitas Education Holdings trading halted, volatility trading pause
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GS | Hot Stocks09:36 EDT Goldman's fundamental strategy 'remains the same,' says CEO
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KR OCDGF | Hot Stocks09:35 EDT Kroger opens Customer Fulfillment Center in Romulus, Michigan - The Kroger Co. (KR) announced the official opening of its newest Customer Fulfillment Center in Romulus, Michigan. Powered by the Ocado Group (OCDGF), the CFC will leverage advanced robotics technology and creative solutions to redefine the customer experience for customers in the greater Detroit area. The approximately 135,000-square-foot facility, situated on Wahrman Road in Romulus, will reach customers up to 90 minutes from the site. The new customer fulfillment center will employ more than 700 associates as Kroger Delivery continues to expand its services throughout southeast Michigan.
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GS | Hot Stocks09:35 EDT Goldman Sachs reorganization to strengthen core businesses, says CEO
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NCMI | Hot Stocks09:33 EDT National CineMedia, Spotlight Cinema Networks collaborate to launch Elevate - National CineMedia and Spotlight Cinema Networks announced a strategic sales relationship, the Elevate Cinema Network. This collaboration will combine nearly 1,500 premier NCM screens with Spotlight's existing premier network of over 1,200 screens to bring Elevate's network to 2,700 'blue chip' screens available for cinema advertising through Spotlight. Elevate will provide unprecedented reach and recall to brands targeting the upscale, educated, adult demographic with disposable income.
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GS | Hot Stocks09:33 EDT Goldman Sachs CEO expects market volatility to persist
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GS | Hot Stocks09:32 EDT Goldman Sachs CEO: Global economy facing 'significant' headwinds - Comments taken from Q3 earnings conference call.
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WLDPF | Hot Stocks09:30 EDT Wildpack Beverage reports September throughput of 15.6M cans - Wildpack Beverage announces that their Las Vegas Facility has been certified through the Safe Quality Food Program. Wildpack's fully integrated beverage manufacturing solution is front and center at Wildpack's Las Vegas facility, that has grown to an 80,000 square foot state-of-the-art facility that houses a sleeve printing press, shrink sleeve decorating line, beverage can filling line and logistics warehousing. The SQF program, to which we are now certified, is administered by the Food Marketing Institute in the United States and is recognized by the Global Food Safety Initiative. The SQF Program is a rigorous and credible food safety and quality program that is recognized by major retailers, brand owners, and food service providers world-wide. Coinciding with our SQF certification, Wildpack has installed a new Comac CFT rotary filler in our Las Vegas Facility. This new CFT filler allows for batching of 20,000 gallons per day and expands our co-pack can trim sizes.In September 2022, Wildpack achieved a new record for new customer conversions and narrowly missed a record for total orders. These factors combined with larger average order sizes resulted in Wildpack achieving its best sales month since inception. Wildpack's equivalent 12-ounce can throughput in September was 15.6 million cans, while 64% of all throughput was can and package brokering. Filling and decorating throughputs were 640 thousand and 1.37 million units respectively. Quality assurance yields remained above 90%.
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JNJ | Hot Stocks09:30 EDT Johnson & Johnson remains 'really confident' in growth expectations - Says breadth of portfolio bodes well for continued growth. Sees "above market growth" in FY23 from Pharmaceutical unit. Says M&A priorities have not changed.
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SCPS | Hot Stocks09:25 EDT Scopus BioPharma completes recapitalization - Scopus BioPharma announced the completion of a series of related recapitalization transactions designed to enhance shareholder value. These transactions include the elimination of warrants to purchase approximately 21 million shares of Scopus common stock. The recapitalization also independently values Duet BioTherapeutics, Scopus' pure play immuno-oncology subsidiary, at $25 million.
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YVR | Hot Stocks09:18 EDT Liquid Media reports Q3 revenue $1.53M vs. $5,365 last year - CEO Joshua Jackson comments, "We continue to execute on our ambitious business plan, leveraging success with our subsidiary companies as well as key partnerships. Continued strong revenue from DCU and iNDIEFLIX along with new offerings from IgemsTV and Projektor continue to expand our ability to provide resources to our customers and help independent creators navigate through the full lifecycle of intellectual property. We expect to continue to create new avenues for our customers to share their creations alongside new opportunities to bring shareholder value through our multi-pronged approach, and we look forward to continuing to report on the successes of our subsidiaries, partners and clients."
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PTON | Hot Stocks09:18 EDT CPSC says repair not yet approved for recalled Peloton treadmill - The U.S. Consumer Product Safety Commission and Peloton Interactive are jointly announcing that consumers now have more time to get a refund for the recalled Peloton Tread+ treadmill. Peloton has agreed to extend the full refund period for these treadmills for one additional year to November 6, 2023. On May 5, 2021, CPSC and Peloton announced the recall of 125,000 Tread+ treadmills following the death of a child and dozens of incidents. The hazard with the treadmills is that adult users, children, pets, and objects can be pulled underneath the rear roller, posing a risk of injury or death, the agency said in statement. To date, in addition to the reported death, Peloton has received 335 incident reports, including 87 reports of injuries to consumers, it added. CPSC said Peloton is working on a rear guard that would address the hazard at the back of the treadmill but no repair has been approved to date. The treadmill was launched as the Peloton Tread in 2018 but renamed Tread+ in September 2020. Consumers returning units after November 6, 2023, will receive a prorated refund. Reference Link
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ENCP | Hot Stocks09:17 EDT Energem Corp. urges stockholders to vote in favor of extension amendment - Energem announced the filing of a definitive proxy statement on October 17, 2022, to hold an extraordinary general meeting of shareholders to: amend the Company's amended and restated articles of association to extend the period of time for the Company to complete a business combination up to nine times, each by an additional one month for an aggregate of nine additional months or such earlier date as determined by the board of directors; and amend the investment management trust agreement between Continental Stock Transfer & Trust Company, as trustee and the Company governing the trust account established in connection with the closing of Energem's initial public offering on November 18, 2021, to extend the date on which Continental must liquidate the Trust Account if the Company has not completed its initial business combination, from November 18, 2022 to August 18, 2023. The Extraordinary General Meeting to approve the Extension Amendment will be held virtually at 9:00 a.m. Eastern Time on November 11, 2022.
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PING | Hot Stocks09:17 EDT Thoma Bravo completes acquisition of Ping Identity - Ping Identity announced the completion of its acquisition by Thoma Bravo in an all-cash transaction valued at approximately $2.8B. Upon completion of the acquisition, Ping Identity stockholders are entitled to receive $28.50 in cash for each share of Ping Identity common stock they owned. Ping Identity's common stock has ceased trading and will be delisted from the New York Stock Exchange.
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SBEV | Hot Stocks09:15 EDT Splash Beverage's TapouT to be sold through New Mexico's Admiral Beverage - Splash Beverage Group announced that its TapouT performance drink will now be distributed across the state of New Mexico through Wyoming-based Admiral Beverage Corporation. Founded more than 50 years ago, Admiral Beverage and its related companies produce and distribute premium soft drinks, waters, teas, fruit juices, energy drinks, alcoholic beverages and more, through sales offices and distributorships in more than 9 states. TapouT will initially receive full state coverage across Admiral's New Mexico distribution network.
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MIGI... | Hot Stocks09:11 EDT Mawson Infrastructure produces 203 Bitcoin in September - "September saw the Mawson team focus on the exit of the Sandersville, Georgia facility and operational handover of the site to CleanSpark Inc. The sale is expected to result in an unaudited profit on sale of approximately $18 million, to be recognized in the fourth quarter of 2022. The exit from Georgia presents Mawson with the ability to refocus its expansion efforts at our Pennsylvania facilities which have combined capacity of 220MW, or approximately 7.3 Exahash2. During September Mawson continued with its diversified revenue model ensuring the group continues to operate strongly through the current tough economic climate," said James Manning, CEO.
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AVGO | Hot Stocks09:10 EDT Broadcom showcases hyperscale solutions at 2022 OCP Global Summit - Broadcom announced its continued commitment to open computing by demonstrating a host of industry-first solutions addressing AI/ ML workloads at scale at the 2022 OCP Global Summit, being held October 18-20 at the San Jose Convention Center. A long-time supporter of open, standards-based technologies, Broadcom is dedicated to developing high-performance, scalable connectivity solutions optimized for AI/ML in hyperscale data centers.
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NVEI | Hot Stocks09:10 EDT Nuvei selected by Vanguard as payment partner to accelerate its business - Nuvei Corporation announces that it has been selected by Vanguard Truck Centers as a payment provider to help accelerate the growth of their multi-regional, full-service U.S. commercial truck dealer group. Nuvei's end-to-end payment solutions accessed through a single integration supports Vanguard's entire business-to-business payment processing needs as they grow. Nuvei is helping Vanguard optimize levels of interchange credit card processing rates and fees. Commenting on the partnership, Nuvei Chair and CEO Philip Fayer said: "With our payment technology expertise, we help Vanguard increase acceptance rates. We are excited to be on this journey with Vanguard as it focuses on driving new sales."
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OSCR | Hot Stocks09:09 EDT Oscar Health announces HCA Midwest Health as in-network provider - Oscar Health announces as an in-network provider HCA Midwest Health, the area's largest healthcare provider. HCA Midwest Health will help expand coverage for more individuals across the Kansas City region during Open Enrollment season and will bring HCA Midwest Health providers and facilities in-network for Oscar's individual and family health insurance plans beginning January 1, 2023. "Since our founding, Oscar's mission has been to broaden access to high-quality, affordable healthcare to individuals across the country," said Dennis Hillen, Senior Vice President at Oscar. "As we enter our fourth year in the Kansas City ACA marketplace, we're proud to have HCA Midwest Health meaningfully expand our network reach and make that vision a reality for more people in the Kansas City area."
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FOXF | Hot Stocks09:09 EDT Fox Factory partners with Society of Women Engineers - Fox Factory announces its partnership with the Society of Women Engineers, SWE. In addition to the annual partnership, the company will make its appearance at the SWE National Conference held in Houston, Texas, Oct. 20-22nd. "I am thrilled that our company has started this official partnership," said Jackie Martin, Fox Factory's Chief Purpose and Inclusion Officer. "Originally, I started my career as an engineer, a field that remains heavily male-dominated. So, I know the importance of having role models, a good support system, and a diverse network to help women professionals develop and thrive in the STEM workforce."
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MRK | Hot Stocks09:09 EDT Merck Animal Health launches Animo GPS in U.S. - Merck Animal Health, a division of Merck & Co, announced the U.S. launch of Animo GPS, an activity and behavior monitor for dogs with GPS tracking capabilities. The product can alert pet owners within 20 seconds if their dog leaves its designated "Safe Zone" and offers real-time tracking with location updates from every five seconds when in "Lost Dog Mode."
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CSSE PUBGY | Hot Stocks09:08 EDT Chicken Soup teams with Publicis' APX Content Ventures on new reality series - Chicken Soup for the Soul Entertainment(CSSE), and Publicis (PUBGY) Media's APX Content Ventures, a global offering dedicated to investing in quality and mission-driven programming, announced an extension to their current agreement to expand the companies' content financing partnership and elevate the voices of underserved audiences. The first project greenlit under the extended agreement is the reality series Dirty Pool with J.B. Smoove, starring comedian J.B. Smoove, which will premiere exclusively on Crackle and Redbox streaming platforms in late 2023. Publicis Media's APX Content Ventures is a next-generation unit within Publicis Media that seeks to find, fund, and elevate partners and properties that amplify diverse voices, empower women and build community, connection, and trust. APX and Publicis clients will have the exclusive opportunity to be featured prominently in the series via deep brand integrations, custom content, sponsorships, and other show-adjacent segments. The companies previously came together to produce the original series Inside the Black Box, which features revealing conversations, exciting performances, workshops, and discussions about the role race plays in the entertainment industry.
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TRVG | Hot Stocks09:07 EDT Trivago enters global partnership with AXS - trivago and AXS announced a global partnership "combining a love for travel and live entertainment," the company said. The partnership, which was developed by AEG Global Partnerships, makes trivago the exclusive accommodation partner of AXS. As part of the agreement, an interactive, trivago branded accommodation search engine will be made available on AXS.com, which will assist ticket buyers with finding the best place to catch some Zzz's after their festivities have concluded. Upon purchasing an event ticket, AXS users can take their fan experience to the next level by searching for a stay nearby via trivago and seamlessly booking accommodations near their event. "We are thrilled to announce trivago's partnership with AXS. It's exciting to see people back out in the world, doing the things they love most," said trivago CEO, Axel Hefer. "As the exclusive accommodation partner to AXS, we look forward to helping enhance every customer's experience and night out with great hotel and booking deals."
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ADBE | Hot Stocks09:04 EDT Adobe partners with Leica, Nikon to implement content authenticity technology - Adobe announced, at Adobe MAX, a partnership between the Content Authenticity Initiative, or CAI, and camera manufacturers Leica and Nikon to implement provenance technology into two exhibiting cameras: Leica's iconic M11 Rangefinder and Nikon's industry-leading mirrorless camera the Nikon Z 9. This milestone will allow photographers and creators alike to increase trust in their digital work by securely attaching valuable provenance information at the point of capture, including when, where and how each image was captured. These details establish an image's attribution and trustworthiness from the start, which helps protect against the spread of misinformation by empowering consumers to identify the origins and edit history throughout the digital content lifecycle.
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BCAN | Hot Stocks09:04 EDT BYND received initial approval to engage in medical cannabis in Israel - BYND Cannasoft Enterprises announced that it received initial approval to engage in medical cannabis without direct contact with the substance from the Medical Cannabis Unit at the Ministry of Health of the State of Israel. Cannasoft received this initial approval as part of the process to obtain a full license that allows trading in medical cannabis products through an agreement with a licensed cannabis grower in Israel. Cannasoft is in the final stage of obtaining the full license. Upon receipt of the full license, Cannasoft intends to immediately implement and execute an agreement with a licensed Israeli grower to produce and distribute various medical cannabis products that constitute the Company's private brand for all pharmacies and pharmacy chains in Israel. Yftah Ben Yaackov, CEO and Director of BYND, said, "We anticipate that as long as there are no unforeseen circumstances, Cannasoft will receive a full license to engage in medical cannabis without direct contact in the near future. Our strategy post-license will be to penetrate the cannabis products market in Israel and globally immediately after the approval of the Israeli regulator for the export of cannabis products from Israel. Our business plan allows us to accomplish this without investing heavily in resources and establishing and operating cultivation facilities." Mr. Yaackov continued, "In this way, BYND Cannasoft will be able to realize its goal of generating significant revenues from the sale of cannabis products while saving significantly on the Company's expenses for this purpose."
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MARK | Hot Stocks09:03 EDT Remark Holdings granted extension to regain Nasdaq listing compliance - Remark Holdings announced that a Nasdaq Hearings Panel granted the company's request to continue its listing on Nasdaq. During the hearing, CEO Kai Shing Tao presented a comprehensive plan on how the company intends to fulfill Nasdaq's listing requirements based upon its future business and capital prospects. Remark's continued listing is subject to the conditions that, on January 11, 2023, the company must demonstrate compliance with Nasdaq's minimum bid price requirement by evidencing a closing price of $1.00 or more per share for a minimum of 10 consecutive trading sessions, and that the company provides prompt notification of any significant events that occur during the period ending on January 11, 2023, that may affect its compliance with Nasdaq rules.
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NXPI | Hot Stocks09:03 EDT NXP Semiconductors announces OrangeBox development platform - NXP Semiconductors announced the OrangeBox automotive-grade development platform, which integrates a wide variety of NXP wireless technologies, from broadcast radio, Wi-Fi 6 and Bluetooth, to secure car access with Ultra-Wideband and Bluetooth Low Energy, and 802.11p-based V2X. The OrangeBox is a single, security enhanced, modular development platform that provides a unified interface between the vehicle's gateway and its wired and wireless technologies. By doing so, it provides a means for next-generation cars to securely communicate with the world around them.
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JNJ | Hot Stocks09:03 EDT Johnson & Johnson says making 'great strides' towards separation of Kenvue - Says remains on track to complete separation mid-to-late 2023.
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CRBU | Hot Stocks09:02 EDT Caribou presents report on long-term follow up from patient dosed with CB-010 - Caribou Biosciences announced the presentation of a case report for long-term follow up on the first patient dosed in its ANTLER Phase 1 clinical trial for CB-010 in relapsed or refractory aggressive B cell non-Hodgkin lymphoma. A recent evaluation showed the patient has maintained a complete response at 15 months after a single dose of CB-010. The poster presentation provides long-term data for the first patient treated in the ANTLER Phase 1 clinical trial with a single dose of CB-010 administered at dose level 1. The patient is a 66-year-old male, diagnosed in 2013 with aggressively behaving follicular lymphoma, demonstrating progression of disease within 24 months. Before joining the ANTLER trial, the patient had received eight prior lines of systemic anti-cancer therapy. After a single dose of CB-010, the patient initially demonstrated a CR at 28 days, which has been maintained through his 15-month evaluation. "The 15-month CR for the first patient in the ANTLER trial exceeded our expectations at this initial dose level and we are highly encouraged by this outcome as we aim to set a new therapeutic bar for patients with relapsed or refractory B-NHL," said Rachel Haurwitz, Ph.D., Caribou's president and chief executive officer. "There is a significant unmet need for an allogeneic cell therapy that can rival the efficacy of autologous cell therapies. We believe that the safety and efficacy profile of CB-010 at dose level 1 has laid the foundation for the promise of this off-the-shelf cell therapy to meet that patient need. As we continue enrollment in the ANTLER trial, our goal is to build upon this foundation by assessing CB-010's safety and durability at a higher dose level."
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MTBC | Hot Stocks09:02 EDT CareCloud announces U.S. Ambassador Donald Blome tours Pakistan office - CareCloud was recently visited at its Bagh office in Pakistan by U.S. Ambassador Donald Blome. The ambassador commended the U.S.-based company for its invaluable community support, which strengthens economic growth for the area, including the construction of an academic institution that benefits CareCloud employees, their families and the community.
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DAR | Hot Stocks09:02 EDT Darling Ingredients to acquire Brazilian collagen producer Gelnex for $1.2B - Darling Ingredients has entered into a definitive agreement to acquire all of the shares of Gelnex, a global producer of collagen products, for approximately $1.2B in cash. The transaction is subject to customary regulatory approvals and is anticipated to close in 1Q23. Headquartered in Brazil with five facilities in South America and one in the U.S., Gelnex has the capacity to produce 46,000 metric tons of collagen products annually, which it exports to more than 60 countries around the world, and employs about 1,200 employees.
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PCX | Hot Stocks09:00 EDT Parsec Capital Acquisitions Corp trading resumes
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STT | Hot Stocks08:56 EDT State Street says winning new business across client segments, geographies - Says new mandates driven by broad based wins across client segments. Says Q3 Fee revenue down largely due to lower equity and fixed income market levels. Says Q3 saw business momentum across Front office software and data services. Says continued y-o-y servicing fee momentum in Alternatives despite equity and fixed income market volatility. Comments taken from Q3 earnings presentation slides.
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JNJ | Hot Stocks08:54 EDT Johnson & Johnson says continues to invest in R&D at 'competitive levels' - Says investing in R&D "remains a top priority." Says capital allocation strategies "remain unchanged." Lowers FY22 adjusted pre-tax operating margin view to down approximately 50 bps from approximately flat. Expects some improvement in inflationary pressures in 2023, however higher costs of inventory manufactured in 2022 will negatively impact 2023. Further announcements related to Kenvue expected later this year or early 2023; Remains on track to complete separation mid-to-late 2023. At this time, anticipates an unfavorable currency impact of about 40c-45c on adjusted earnings per share in 2023. Comments taken from Q3 earnings conference call.
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MBOT | Hot Stocks08:49 EDT Microbot Medical submits follow-up pre-submission package for LIBERTY System - Microbot Medical announced that it has submitted the anticipated follow-up pre-submission package for the LIBERTY Robotic System to ensure the Company remains fully aligned with the U.S. Food and Drug Administration as it prepares for its Investigational Device Exemption submission and first-in-human clinical trial with the system in 2023.
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CHRA | Hot Stocks08:48 EDT Charah Solutions appoints Jonathan Batarseh as CFO - Charah Solutions announced the appointment of Jonathan Batarseh as CFO and treasurer, effective October 17. Batarseh, who will report to CEO and president Scott Sewell, is responsible for overseeing accounting, financial planning and analysis, tax, treasury, investor relations, information technology, fleet, and procurement initiatives.
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DGX | Hot Stocks08:48 EDT Quest Diagnostics collaborates with Decode Health for research platform - Quest Diagnostics announced a new phase of its collaboration with Decode Health, a healthcare AI company, that aims to empower drug and diagnostics research and development in the fields of metabolic disease and autoimmune neurology. In earlier phases of the collaboration, the two parties developed RNA sequencing capabilities based on both parties' sequencing, analytics and clinical expertise. In this latest phase, the parties have developed a national platform for collecting and storing deidentified consented specimens from individuals participating in research. The platform includes Quest's 2,100 patient service centers as well as its ExamOne mobile in-home phlebotomy team and a biobank at its laboratory in Memphis, Tenn. Quest and Decode will share benefits from any research, data licensing, biomarker discovery or diagnostics development that emerge. Additional terms were not disclosed. At this stage of the collaboration, Decode and Quest's initial focus is on addressing a pressing need for earlier detection, differential diagnosis and therapy selection for multiple sclerosis. As the collaboration progresses, the parties plan to expand to additional clinical disease areas.
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HILS | Hot Stocks08:48 EDT Hillstream BioPharma to highlight HSB-1216 at ENA 2022 - Hillstream BioPharma announced that an abstract highlighting the progress of the Quatramer-based Ferroptosis Inducer, HSB-1216, are available as a poster at the 34th EORTC- NCI - AACR Symposium in Barcelona taking place from October 26 -28, 2022. AML is characterized by the unbridled proliferation of myeloid progenitor cells. Unfortunately, despite recent advances in the treatment, the prognosis is poor for almost all older adults and half of patients under age 60. Leukemic stem cells represent a subset of the leukemic cell population contributing to leukemia relapse and are relatively refractory to conventional treatments. HSB-1216 treatment resulted in growth inhibition and induction of cell death of multiple AML cell lines. Additionally, Midostaurin- resistant and Venetoclax-resistant AML cells are sensitive to HSB-1216-induced growth arrest. "The accepted abstract summarizes non-clinical findings using HSB-1216 as a single agent and in combination with decitabine in acute myeloid leukemia, a significant unmet need" stated Randy Milby, CEO of Hillstream BioPharma. "In addition, we are actively evaluating the potential utility of HSB-1216 in a variety of solid tumor types."
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F... | Hot Stocks08:48 EDT EU passenger car registrations up 9.6% in September - In September, new passenger car registrations in the European Union rose by 9.6%, "marking the second consecutive month of growth this year," said the European Automobile Manufacturers Association. "However, this increase was largely driven by the low base of comparison from September 2021, when the semiconductor shortage hampered vehicle production," the group stated. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz Group (DDAIF), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY). Reference Link
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GSK | Hot Stocks08:46 EDT GSK announces expanded collaboration with Tempus in precision medicine - GSK plc and Tempus, a U.S.-based precision medicine company, have entered into a three-year collaboration agreement that provides GSK with access to Tempus' AI-enabled platform, including its library of de-identified patient data. GSK and Tempus currently collaborate on an open label phase II study, which applies a data-driven approach designed to accelerate and streamline study timelines. This includes expediting the protocol development and intelligent site selection in under 60 days and enrolling its initial patients within three months of the study launch. The expanded collaboration has a minimum financial commitment over three years, for which GSK made a $70M initial payment. GSK then has an option to extend for two additional years. "Through its leading Artificial Intelligence and Machine Learning capability, GSK will work together with Tempus to improve clinical trial design, speed up enrolment and identify drug targets. This will contribute to GSK's R&D success rate and provide patients with more personalised treatment faster. The new collaboration builds from the existing relationship between the companies that began in 2020 on clinical trial enrolment of patients with certain types of cancer. It will now expand GSK's access to de-identified patient data bringing greater scale and detail. Tempus' dataset draws from its work with over 40% of oncologists in the U.S. at academic medical centres and community hospitals," GSK said. Tony Wood, Chief Scientific Officer, GSK, added: "This collaboration will provide GSK with unique insights to discover better medicines and transform drug discovery. Tempus complements the work our team is already doing at the intersection of genomics and machine learning across both early discovery and clinical trials."
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GILD | Hot Stocks08:45 EDT Gilead gives new data from HIV R&D programs at at HIV Glasgow 2022 - Gilead Sciences announced the company's upcoming new data from its HIV research and development programs to be presented at the 30th International Congress on Drug Therapy in HIV Infection, HIV Glasgow 2022, in Glasgow, Scotland and virtually from October 23-26. Gilead will present data supporting its current and pipeline innovations in HIV treatment and the latest research from its ongoing cure development program, reflecting the company's innovative approach to continuous scientific discovery. "Continued scientific innovation and inclusive approaches are essential in the discovery and development of person-centred options that address the evolving needs of a broad range of individuals and communities affected by HIV," said Jared Baeten, MD, PhD, Vice President, HIV Clinical Development, Gilead Sciences. "The data presented at HIV Glasgow reflect the latest progress in our research and development programs and underscore Gilead's commitment to driving transformational innovation in HIV research. Our goal, together with the broader HIV community, is to end the HIV epidemic for everyone, everywhere. We look forward to connecting in person in Scotland at this year's meeting and sharing these data with the scientific community as we work towards this important goal."
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BNXAF | Hot Stocks08:44 EDT Banxa Holdings granted five additional U.S. MTL licenses - Banxa Holdings issued an update on recent business and market activities. Banxa received approval for five additional U.S. State Money Transmitter Licenses; Banxa now holds seven approved MTLs in the U.S. with 33 more MTL applications pending. Banxa CEO Holger Arians said: "It's exciting to see our US endeavors progressing faster than anticipated. Having these MTLs solidifies Banxa's position in the largest crypto market along with the numerous commercial benefits it brings to our partners and us."
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CHRA KBR | Hot Stocks08:43 EDT Charah Solutions appoints Jonathan Batarseh as CFO - Charah Solutions (CHRA) announced the appointment of Jonathan Batarseh as CFO and Treasurer, effective October 17, 2022. Mr. Batarseh, who will report to CEO and President Scott Sewell, is responsible for overseeing accounting, financial planning and analysis, tax, treasury, investor relations, information technology, fleet, and procurement initiatives. He joins Charah Solutions from Brown & Root Industrial Services, a joint venture between KBR (KBR) and Bernhard Capital Partners, where he was CFO, responsible for overseeing all financial management and reporting, treasury, and information technology and services.
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MIRM | Hot Stocks08:40 EDT Mirum Pharmaceuticals publishes Livmarli data in patients with ALGS - Mirum Pharmaceuticals announced that data highlighting quality of life and sleep improvements from its pivotal ICONIC study evaluating LIVMARLI or maralixibat, oral solution in patients with Alagille syndrome, ALGS, were published in the Journal of Pediatrics. ALGS is a rare genetic disease caused by abnormalities in bile ducts that can lead to progressive liver disease. Malformed or reduced bile ducts cause retention of bile acids in the liver leading to cholestasis and ultimately inflammation and liver injury which prevents the liver from working properly. Cholestasis in ALGS leads to a debilitating pruritus impacting the quality of life so severely that pruritus is a leading indication for liver transplantation.
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VECT | Hot Stocks08:40 EDT Vectivbio announces closing of $125M underwritten offering of ordinary shares - VectivBio Holding announced the closing of its previously announced underwritten offering of 16,700,000 ordinary shares at an offering price of $7.50 per share. Investors who purchased shares in the offering include Cowen Healthcare Investments, Driehaus Capital Management, Eventide Asset Management, LLC, Forbion's Growth Opportunities Fund, Frazier Life Sciences, Marshall Wace, OrbiMed, Surveyor Capital, TCG X, Venrock Healthcare Capital Partners and Vivo Capital, among other specialist biotech investors. Before deducting the underwriting discounts and commissions and offering expenses, VectivBio received total gross proceeds of approximately $125M. VectivBio intends to use the net proceeds from the offering, together with its existing cash and cash equivalents: to fund clinical development and pre-commercialization activities for its lead product candidate and general corporate purposes, including general and administrative expenses and working capital. Jefferies, SVB Securities and Piper Sandler acted as the joint book-running managers for the offering.
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META | Hot Stocks08:39 EDT Meta Platforms ordered by U.K.'s CMA to sell Giphy - The Competition and Markets Authority has found that Meta's takeover of Giphy could allow Meta to limit other social media platforms' access to GIFs, making those sites less attractive to users and less competitive. It also found the deal has removed Giphy as a potential challenger in the UK display advertising market, preventing UK businesses from benefiting from innovation in this market. The Tribunal only found in Meta's favor on a procedural ground relating to the sharing of third-party confidential information. In light of the finding, the CMA reconsidered its decision. The CMA has conducted an expedited review and is issuing its final decision today. The CMA has concluded the only way to avoid the significant impact the deal would have on competition is for Giphy to be sold off in its entirety to an approved buyer. Stuart McIntosh, Chair of the independent inquiry group carrying out the remittal investigation, said: "The only way this can be addressed is by the sale of Giphy. This will promote innovation in digital advertising, and also ensure UK social media users continue to benefit from access to Giphy." Reference Link
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BTCS | Hot Stocks08:38 EDT BTCS announces $100,000 investment in GlobexUS Holdings - BTCS announced a $100,000 strategic investment in GlobexUS Holdings Corp; the parent of Horizon Globex GmbH, the technology provider and joint venture partner of the Upstream exchange. "Over the last eight years, BTCS has been on the cutting edge of U.S. public companies in the blockchain sector," said Charles Allen, Chief Executive Officer of BTCS. "Ethereum remains core to BTCS as our largest digital asset holding for which we currently run 240 validator nodes with over 8,400 ETH staked. While Ethereum is widely known as a platform to deploy NFTs, it has much broader use cases, such as the trading of securities. As an infrastructure provider, our investment in an Ethereum-based layer 2 application not only showcases the power of blockchains but the potential of BTCS' future. As the first U.S. publicly listed company to issue a dividend payable in Bitcoin earlier in 2022, potential tokenization and dual listing of our shares on Upstream's platform would highlight our further utilization of disruptive blockchain capabilities that support our belief in the fast-growing industry," continued Allen.
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DATS | Hot Stocks08:38 EDT DatChat appoints Mark Mathis as CTO of SmarterVerse - DatChat announced the appointment of Mark Mathis as Chief Technology Officer of the company's SmarterVerse, Inc. subsidiary. Mathis was a contributor with Origin Protocol and a full-stack blockchain developer with expertise in developing NFT marketplaces, wallets, and public blockchains. In addition, Renee J. Palacio, who is currently chief technology officer at SmarterVerse, Inc., will be assuming the role as Chief Information Officer and the company has retained New York City- based public relations firm Pace Public Relations.
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DCT | Hot Stocks08:37 EDT Duck Creek Technologies announces cloud-based integration with ExamWorks - Duck Creek Technologies announces a cloud-based integration with ExamWorks' U.S. IME division to offer Independent Medical Examinations to P&C and legal customers. "We are thrilled to partner with a leading provider of independent medical exams and offer Duck Creek customers a more seamless IME experience," said Elaine Rogalla, Sr. Product Manager, Duck Creek Technologies. "The claims lifecycle is a core insurance process, and we are committed to partnering with industry leaders who help enable a simple and consistent workflow for our customers."
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FTNT | Hot Stocks08:36 EDT Fortinet announces cloud-delivered enhancements to FortiSASE - Fortinet announced significant cloud-delivered enhancements to FortiSASE, the most integrated single-vendor SASE solution on the market. In addition to enabling Secure Internet Access that is not only fast but ensures consistent security for all user traffic to and from the internet, FortiSASE now includes new updates that add enhanced support for Secure Private Access and Secure SaaS Access use cases. John Maddison, EVP of Products and CMO, said, "Fortinet delivers the most integrated single-vendor SASE solution available, uniquely converging best-of-breed networking and best-of-breed security that are unified by a single operating system. The latest cloud-delivered enhancements to FortiSASE further strengthen our ability to enable consistent security and user experience no matter where users and applications are distributed."
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ATR | Hot Stocks08:35 EDT Aptar, Chiesi sign digital health deal for platform for Asthma, COPD patients - Aptar Digital Health announced a strategic partnership with the Chiesi Group, the international research-focused biopharmaceutical and healthcare group, to bring to market a disease management platform for asthma and chronic obstructive pulmonary disease COPD . Aptar Digital Health is a division of Aptar Pharma, part of Aptar. The partnership will leverage Aptar's recently announced Disease Management Platform that is designed to empower patients to better understand and take control of their disease, provide healthcare professionals with data-driven insights to better manage their patients and build evidence for emerging reimbursement arrangements in the field of digital health for asthma and COPD. The platform offers a comprehensive set of services and solutions aimed at bringing together both the pharmacological and behavioral aspects of managing respiratory diseases, such as adherence monitoring, lung function assessment, reporting symptoms, identifying disease triggers and communication with care teams and health coaches. The partnership initially focuses on Europe, with potential future expansions to other geographies.
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PCX | Hot Stocks08:35 EDT Parsec Capital executes merger agreement with Enteractive Media - Parsec Capital Acquisitions announced the execution of an agreement and plan of merger with Enteractive Media Inc. of Calgary, Alberta on October 13, 2022. The transaction has been approved by the Board of Directors of both the Company and Enteractive Media and is expected to be consummated in the fourth quarter of 2022, subject to regulatory and stockholder approval by the stockholders of the Company and the stockholder of Enteractive Media and the satisfaction of certain other customary closing conditions. Enteractive Media Inc., established in 2013, is a business that acts as the gateway between consumers and gambling operators. Enteractive Media's wholly owned subsidiary "PlayerVision" provides consumers with gambling themed television broadcasts, on demand video, "Join in Play" synchronous live video streamed sports wagering programming, which include gambling strategies, tips and advice, leaderboards, contests, and incentives where people who like to gamble can: Meet each other; Learn how to play new games and gamble; Compete with each other in free games and real money games, and Win prizes and money. Upon the closing of the Business Combination, the combined company is expected to operate under the name Enteractive Media Inc. and remain a Nasdaq listed public company ("Nasdaq") trading under a new ticker symbol. The board of directors of the combined company will consist of one director designed by the Company and four directors designated by Enteractive Media. There can be no assurance that the combined company will remain listed on Nasdaq.
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TOMZ | Hot Stocks08:35 EDT Tomi's SteraMist to be used in global influenza vaccine facility in Australia - TOMI Environmental Solutions announced that SteraMist is to be utilized by a world-renowned influenza vaccine company that focuses on innovative research, transformative technologies, production, and distribution. TOMI's Australian partner, Critical Scientific Solutions, was recently awarded the $280,000 purchase order in the third quarter of this year for three modified SteraMist Environment Systems and TOMI's stainless steel 90-degree applicators to be used in this prestigious influenza vaccine company's labs to decontaminate their cleanrooms and penetrate HEPA filters to decontaminate ductwork. Elissa Shane, COO of TOMI, stated, "Since their initial purchase late last year, Critical Scientific Solutions has been a steadfast partner and service provider, able to enter the Australian and New Zealand markets quickly with an understanding of the advantages of SteraMist technology and a targeted focus in the Life Sciences. We are looking forward to pursuing future opportunities through this valuable partnership. We continue to see strong demand for our custom engineered systems in the Life Science sector which provides an expanding base of stable and recurring BIT solution demand over the life of the systems."
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NVGS | Hot Stocks08:33 EDT Navigator Holdings announces share repurchase plan - Navigator announced that its Board of Directors has authorised a new share repurchase plan of up to $50M of Navigator's common stock. Pursuant to the Plan, Navigator may repurchase up to an aggregate of $50M of the Company's common stock via open market transactions, privately negotiated transactions or any other method permitted under U.S. securities laws and the rules of the U.S. Securities and Exchange Commission.
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QNRX | Hot Stocks08:33 EDT Quoin announces plans to initiate second trial in Netherton syndrome patients - Quoin Pharmaceuticals announces that it is initiating a second clinical trial in Netherton Syndrome patients. This multicenter, open label study will be being conducted under Quoin's currently open U.S. Investigational New Drug, IND, Application and will assess QRX003 topical lotion in Netherton patients who are currently receiving treatment including systemic therapy for symptomatic relief. QRX003 will be applied once daily over a twelve-week period, to pre-designated areas of the patient's body. A number of different clinical endpoints will be assessed in the study. Quoin CEO, Dr. Michael Myers, said, "We are very pleased to announce our plan to initiate this second clinical study in Netherton patients under our open IND application. While there are no currently approved therapeutic treatments for Netherton Syndrome, we are aware that a subset of patients is being treated off-label with systemic biologics, including systemic therapy, that provide some symptomatic relief but do not address all symptoms, nor the underlying cause of the disease."
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SLRX | Hot Stocks08:32 EDT Salarius pauses new patient enrollment in Phase 1/2 trial of seclidemstat - Salarius Pharmaceuticals announced that, as per protocol design, it is voluntarily pausing new patient enrollment in the company's Phase 1/2 trial of seclidemstat as a treatment for Ewing sarcoma and FET-rearranged sarcomas. The pause in new patient enrollment is due to a metastatic FET-rearranged sarcoma patient death that was classified as a suspected unexpected serious adverse reaction. Upon review of the SUSAR and available information by the company's independent Safety Review Committee for the clinical trial, patients currently receiving seclidemstat treatment may continue treatment after consulting with their physician. Salarius communicated the details of the SUSAR to the U.S. Food and Drug Administration and intends to further analyze the available data with the goal of understanding how best to proceed and restart enrollment as soon as possible. Salarius continues to plan to release interim sarcoma clinical trial results later this year.
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TAOP | Hot Stocks08:32 EDT Taoping enters into strategic cooperation with Jiangsu SuLiXin - Taoping's wholly owned subsidiary, Taoping Digital Tech Jiangsu, entered into a three-year strategic cooperation agreement with Jiangsu SuLiXin Cultural. Under the agreement, SuLiXin will purchase display terminals and services from Taoping, with the two companies also agreeing to jointly develop larger scale digital multimedia exhibition hall projects across China. Specifically, SuLiXin plans to purchase at least RMB30M, or $4.2M, of equipment from Taoping during the term of the agreement. Taoping will be recognized as a strategic partner to SuLiXin and the main supplier of DLP, LCD, LED and other large display screens required for its larger scale, digital multimedia exhibition hall projects. Taoping has agreed to leverage the channel advantages of its proprietary city partners network to actively help promote the development of SuLiXin's various other cultural exhibition hall project businesses in the national market, especially in East China.
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BLIN | Hot Stocks08:30 EDT Bridgeline's TruPresence, Hawksearch selected by electrical distributor - Bridgeline Digital announced it was chosen by a leading electrical distributor to help power their digital marketing for their US-based locations. The electrical distributor has committed to a more than $250,000 multi-year license for Bridgeline's TruPresence and Hawksearch products to power their site search and recommendations. Hawksearch's AI site search technology was identified to help grow the distributor's massive online catalog with 700 sites, 5 million products, and 15 million monthly queries.
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MYNA NOC | Hot Stocks08:29 EDT Mynaric to provide optical communications terminals to Northrop Grumman - Mynaric (MYNA) announced it will provide Northrop Grumman (NOC) with optical communications terminals for 14 satellites as part of the Space Development Agency's or SDA Tranche 1 Tracking Layer program. Each satellite will feature a wide field-of-view infrared sensor, three optical communications terminals, and a Ka-band payload for communications. Mynaric will supply 42 CONDOR Mk3 terminals to Northrop Grumman for the program with the product deliveries expected mostly in 2024 for deployment in 2025. "Once again, we are proud to support Northrop Grumman and the SDA on this program which is critical to the United States' national defense," said Mynaric Chief Commercial Officer Tina Ghataore. "This announcement highlights our commitment to delivering products for space applications that are technically sound and can be serially produced. We will leverage our experience working with Northrop Grumman on the Tranche 1 Transport Layer as we embark on the delivery of the terminals for the Tranche 1 Tracking Layer satellites."
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RIBT | Hot Stocks08:27 EDT RiceBran announces $1.5M registered direct offering - RiceBran Technologies announced that it has entered into a definitive securities purchase agreement with institutional investors for the purchase and sale of 1,000,000 shares of the Company's common stock at a purchase price of $1.50 per share of common stock in a registered direct offering. The closing of the offering is expected to occur on or about October 20, 2022, subject to the satisfaction of customary closing conditions. In addition, in a concurrent private placement, the Company will issue to the investors warrants to purchase up to 2,000,000 shares of common stock. The warrants have an exercise price of $1.60 per share, are exercisable six months following issuance and will have a term of two and one-half years from the initial exercise date. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $1.5 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include funding capital expenditures and working capital and repaying indebtedness.
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MYNA NOC | Hot Stocks08:26 EDT Mynaric to provide optical communications terminals to Northrop Grumman - Mynaric (MYNA) announced it will provide Northrop Grumman (NOC) with optical communications terminals for 14 satellites as part of the Space Development Agency's Tranche 1 Tracking Layer program. Each satellite will feature a wide field-of-view infrared sensor, three optical communications terminals, and a Ka-band payload for communications. Mynaric will supply 42 CONDOR Mk3 terminals to Northrop Grumman for the program with the product deliveries expected mostly in 2024 for deployment in 2025.
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FYBR | Hot Stocks08:26 EDT Frontier Communications invests $800M to expand fiber in Connecticut - Frontier's investment of $800M to expand its fiber-optic network in Connecticut is one of the largest private infrastructure buildouts in the state's history. This investment supports the company's plans to deliver fast and reliable fiber broadband connectivity to over 800,000 homes and businesses by the end of 2025. "Rallied around its purpose of Building Gigabit America, Frontier is accelerating a fiber future for communities across the country with a plan to reach 10 million locations by the end of 2025. To date, Frontier has built fiber to 500,000 locations in the state of Connecticut. "Connecticut is a key part of Building Gigabit America. We're proud to invest hundreds of millions of dollars to build critical digital infrastructure across the state," said Veronica Bloodworth, Frontier's Chief Network Officer. "Our superior fiber technology will deliver a reliable digital experience that will serve Connecticut for generations to come," said the company/
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MCVT | Hot Stocks08:26 EDT Mill City provides short-term funding to facilitate podcast platform merger - Mill City Ventures III announced it has provided $2.225M of short-term debt financing to Liberated Syndication to facilitate Libsyn's recently announced acquisition of German podcast company Julep Media. The debt financing matures in 180 days.
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PCX | Hot Stocks08:25 EDT Parsec Capital Acquisitions Corp trading halted, news pending
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COSM | Hot Stocks08:24 EDT Cosmos Holdings announces pricing of $7.5M upsized public offering - Cosmos Holdings announced the pricing of its "reasonable best efforts" public offering of 62,500,000 shares of common stock, Series A Warrants to purchase 62,500,000 shares of common stock and Series B Warrant to purchase 62,500,000 shares of common stock at a combined price of $0.12 per share and warrant for aggregate gross proceeds of $7.5 million, before deducting placement agent fees and other offering expenses. The offering includes participation from Grigorios Siokas, CEO of Cosmos Holdings, Inc. as well as various Company advisors. The closing of the offering is expected to occur on or about October 20, 2022, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for its pending or potential acquisitions, payment of certain liabilities to existing warrant holders, as well as for working capital purposes and general corporate purposes.
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IPVA BKNG | Hot Stocks08:24 EDT Getaround, KAYAK enter strategic partnership - Getaround and KAYAK, a part of Booking Holdings (BKNG), announced a new strategic partnership that integrates Getaround's carsharing offerings with KAYAK's platforms and services. The announcement comes as years of pent-up travel demand has created robust demand for car and truck rentals in cities throughout the U.S. "Getaround is very pleased to enter this new strategic marketing agreement with KAYAK to bring a revolutionary, digital, and convenient contactless carsharing experience to KAYAK travelers," said Sy Fahimi, Chief Operating Officer, Getaround. "Now more than ever, travelers are looking to save money and want convenience. With Getaround, you can instantly book cars or trucks for as little as an hour, which is ideal for short day excursions during longer trips. Beyond that, we offer bookings by the day or week, enabling Getaround to meet the needs of all KAYAK travelers." On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (IPVA).
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CHCI | Hot Stocks08:23 EDT Puttshack signs new lease at Comstock's Reston Station - Puttshack, the world's only upscale, tech-infused mini golf experience with global food and drink, and Comstock Holding Companies, a developer, operator, and asset manager of mixed-use and transit-oriented properties in the Washington, D.C. region, announced y the signing of a new lease at 1850 Reston Row Plaza in Reston, Virginia, part of the Phase 2 development underway at Comstock's 80-acre Reston Station development. Located at the Wiehle-Reston East Metro Station, Puttshack will anchor the building as the first active entertainment venue at Reston Station when it opens in Summer 2025.
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IBIBF | Hot Stocks08:22 EDT Arcadis IBI Group awarded traveler information system contract - Arcadis IBI Group has been awarded a multi-year contract for its traveler information system, Travel-IQ, adding to a growing list of states, cities, provinces and countries currently leveraging Arcadis IBI's Software-as-a-Service solution. Resident and visitors of New Hampshire, Maine and Vermont will now be able to travel seamlessly and plan trips across jurisdictions and counties using real-time, multi-modal trip planning, accurate information about traffic incidents, unsafe road conditions, gridlock and more. The multi-year New Hampshire, Maine and Vermont contract established with Southwest Research Institute expanded in 2022 to include Arcadis IBI's integration of the Travel-IQ web product with the SwRI New England Compass advanced traffic management system. As part of a Tri-State partnership, Arcadis IBI's Travel-IQ product will provide advanced mapping, navigation and trip planning capabilities to the general public. In addition to the multi-year SaaS Tri-State contract, Arcadis IBI has also been awarded contract renewals in Alaska, Florida, Louisiana, New York and Southern California. The contracts add to Arcadis IBI's growing body of intelligence-based mobility work throughout the U.S., and will specifically add new traveler system features along with mobile apps for reporting in each of the States.
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TEVA | Hot Stocks08:21 EDT Teva gives ARC-HD trial results on Austedo tolerability for Chorea in HD - Teva Pharmaceuticals announced results from the ARC-HD trial, an approximately 3-year open-label, single-arm, 2-cohort, multicenter extension study evaluating the safety and tolerability of long-term treatment with AUSTEDO or deutetrabenazine, tablets for chorea associated with Huntington's Disease . The ARC-HD study was conducted by Teva in partnership with the Huntington Study Group. ARC-HD results showed that treatment with AUSTEDO had a safety and tolerability profile comparable with the First-HD randomized, double-blind, placebo-controlled, 12-week study. In ARC-HD medication compliance rates were greater than 90% over the ~3 year open-label extension period. Over this full period, AUSTEDO improved and maintained chorea control in both the Rollover cohort and the Switch cohort, as measured by the Unified Huntington's Disease Rating Scale otal Maximal Chorea score "These data provide important insight into the long-term use of deutetrabenazine for the treatment of chorea associated with Huntington's disease, which can have a significant functional impact on people's lives," said Samuel Frank, MD, Associate Professor of Neurology and Director of HDSA Center of Excellence at Beth Israel Deaconess Medical Center, Boston, and lead author of the study. "Results of this study add to the safety and tolerability profile and support deutetrabenazine as a treatment choice for this progressive condition. We are deeply grateful to the researchers, patients and their families who played an integral role in this study."
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NVCT | Hot Stocks08:21 EDT Nuvectis Pharma announces two upcoming presentations at EORTC-NCI-AACR - Nuvectis Pharma announced the publication of abstracts for two posters that will be presented at the upcoming 34th EORTC-NCI-AACR Symposium on molecular targets and cancer therapeutics, taking place from October 26th to October 28th, 2022 in Barcelona, Spain. Ron Bentsur, Chairman and Chief Executive Officer of Nuvectis said: "The posters that will be presented at the 2022 ENA describe the preclinical validation of biomarkers supporting the clinical development of NXP800, and identify additional target tumors and potential clinical development opportunities for NXP900, further differentiating it from non-selective SRC/YES1 inhibitors. We look forward to sharing these data with the oncology community at the ENA."
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TU | Hot Stocks08:20 EDT Telus Business launches ShopWithOwners.ca - TELUS Business is celebrating Small Business Month this October with the launch of ShopWithOwners.ca, a new online platform to connect Canadians with their favourite local shops, including past #StandWithOwners winners. This platform will help support business owners across the country with gaining exposure to customers looking for local finds and gifts during the holiday season. Canadians will be able to search by location, keywords and categories to discover exceptional small businesses they can easily support within their community. Visitors will be able to learn more about the owner, their business and be directed to their website and social media pages.
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OTMO | Hot Stocks08:20 EDT Otonomo Technologies announces integration of platform with SAP vehicle hub - Otonomo Technologies announced the integration of its Otonomo Smart Mobility Data Platform with SAP Digital Vehicle Hub. The integration will help enable businesses to derive new insights for fleet management and maintenance based on connected vehicle data, drive future mobility business models, and generate new value and revenue streams. The Otonomo Smart Mobility Data Platform helps deliver clean, normalized, embedded vehicle data collected from multiple OEMs. The integration with SAP Digital Vehicle Hub further enables the utilization of connected vehicle data. "Our partnership with SAP helps Otonomo to expand into more enterprise accounts while creating new possibilities for how fleet customers can ingest data into SAP Digital Vehicle Hub to streamline vehicle management and fleet operations," said Ben Volkow, CEO and co-founder of Otonomo. "The synergies between our two platforms will translate into opportunities for better business outcomes for customers, allowing them to more easily turn mobility insights into business value."
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LJAQ MLEC | Hot Stocks08:19 EDT LightJump Acquisition files registration statement on Form F-4 - Moolec Science and LightJump Acquisition announced the filing of a registration statement on Form F-4 by Moolec Science, which contains a preliminary proxy statement/prospectus, with the U.S. Securities and Exchange Commission in connection with their recently proposed business combination. While the Registration Statement, which can be found here, has not yet become effective, and the information contained therein is subject to change, it provides important information about Moolec's business and operations, proposed business combination with LightJump and the proposals to be considered by LightJump's stockholders. Completion of the proposed business combination, which is expected to close by the end of 2022, is subject to the Registration Statement being declared effective by the SEC, approval by LightJump's stockholders, and other customary closing conditions. The Combined Company, will be led by Mr. Gaston Paladini, Chief Executive Officer and Co-Founder of Moolec Science. Upon completion of the transaction, the Company is expected to become a public company listed on Nasdaq under the ticker symbol "MLEC". The business combination sets the Combined Company's proforma equity value at $394 million and as a result of the transaction, the Combined Company is expected to be funded with approximately $27 million in cash proceeds held in LightJump's trust account, assuming no further LightJump shareholders exercise their redemption rights at closing and before transaction-related expenses. In addition, LightJump has entered into a backstop agreement with entities affiliated with Moolec to guarantee a minimum of $10 million at closing.
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CMRA | Hot Stocks08:19 EDT Comera Life Sciences announces preclinical results from its SEQURUS-2 study - Comera Life Sciences announced favorable results from its recently completed SEQURUS-2 study. Together with the SEQURUS-1 study, the preclinical results showed that Comera's caffeine-based SQore excipient did not result in local or systemic toxicity and had no impact on any measured pharmacokinetic parameters of ipilimumab when administered subcutaneously. Comera is using its proprietary formulation platform SQore to enable subcutaneous delivery of intravenous drugs such as monoclonal antibodies. "This new data represents another positive step in a broader development strategy to advance our lead SQore excipient," said Robert Mahoney, Ph.D., Chief Scientific Officer of Comera. "The SEQURUS-2 results confirm our initial safety and pharmacokinetic assessment and provide additional preclinical evidence of safety of Comera's caffeine-based SQore excipient when administered subcutaneously with a monoclonal antibody" SEQURUS-2 data demonstrate no evidence of local or systemic toxicity of caffeine in animals when administered subcutaneously with ipilimumab. Furthermore, a rapid clearance of caffeine was seen within eight hours. The data also reveal no evidence of caffeine impact on ipilimumab absorption. Additionally, the results establish that caffeine had no impact on ipilimumab half-life and no effect on pharmacokinetic data for both the IV and SQ groups.
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RILY FRG | Hot Stocks08:18 EDT B. Riley Financial purchases second portfolio from Franchise Group subsidiary - B. Riley Financial (RILY) has purchased a second portfolio of performing receivables from W.S. Badcock, a home-furnishing retailer. Badcock is a subsidiary of Franchise Group (FRG), a franchise operator. B. Riley previously acquired $535M of performing Badcock receivables for approximately $400M in connection with FRG's acquisition of Badcock in December 2021. An SPV majority owned by B. Riley has purchased approximately $198M of Badcock's performing receivables for an aggregate purchase price of approximately $168M. The SPV has the option to purchase up to an additional $75M of receivables over the six months post-closing, subject to certain limitations. The SPV financed the transaction using a $148M senior secured term loan credit facility from Pathlight Capital, which included a limited guaranty of $15M from B. Riley. Badcock will continue to service and administer the purchased receivables.
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SAI | Hot Stocks08:17 EDT SAITECH announces sponsorship of 2022 OCEC Conference - SAI.TECH Global Corporation announced its sponsorship and presence at the 2022 Organization of Clean Energy and Climate Annual Conference, to be held on 2022 October 22nd at the Royal Geographical Society, London, the United Kingdom. The 2022 OCEC Annual Conference will bring together an international group of professional academics, government officers, industry practitioners and non-for-profit activists who are interested and devoted to climate change. This event offers an opportunity for people from different areas to discuss the possible approaches to fight against the climate crisis.
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URI | Hot Stocks08:15 EDT United Rentals to add several hydrogen power generators to North America fleet - United Rentals announced it is adding several hydrogen power generators to its North American rental fleet in the coming months. With the generators, United Rentals customers will have a zero-emissions power solution to charge electric vehicles and tools, and other equipment, advancing worksite electrification strategies. The EODev GEH2 fuel cell electro-hydrogen generators bring companies the energy they need, without emissions of carbon dioxide, hydrocarbons, nitrogen oxides or other particulate matter. With a compact footprint of about four feet by 11 feet, the generators deliver instant power up to 110 kVA. They are equipped with the latest hydrogen fuel cells, and provide exceptional durability and reliability. In addition to the sustainability benefits, they also run much quieter than traditional generators. United Rentals has acquired the generators from Generac, a distribution partner for EODev. The generators join emissions-free aerial lifts, trucks, vans, compact excavators, e-dumpsters, battery systems and more already in the United Rentals portfolio of environmentally friendly rental equipment. United Rentals expects to deploy the generators during the fourth quarter of 2022 and in 2023.
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HUD | Hot Stocks08:15 EDT Hudson extends term at Charleston International Airport with new contract - Hudson revealed the plans for its redeveloped concessions portfolio at Charleston International Airport under a ten-year contract extension - expanding a partnership of more than two decades. Over the next year, Hudson will deliver a travel retail revolution for CHS and its over 4M annual travelers, bringing together travel convenience, specialty retail, and food and beverage under Dufry's global "Destination 2027" strategy. This combination retail and dining program will contain some of Hudson's most beloved proprietary concepts, Evolve by Hudson and Hudson Nonstop, a specialty shop-in-shop from TUMI, a standaloneSunglass Hut store, and Hudson's inaugural Chick-fil-A location.
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MFGCF | Hot Stocks08:15 EDT Mayfair Gold announces updated MRE for Fenn-Gib Gold Project - Mayfair Gold announced an updated mineral resource estimate at the Company's 100% controlled Fenn-Gib Gold Project, located in the Timmins region of Northeast Ontario. Based on assay results from 61 percent of the Company's current 110,000-meter infill and expansion drill program, the Fenn-Gib deposit now hosts a NI 43-101 pit constrained Indicated mineral resource estimate of 3.06 million ounces gold and an Inferred mineral resource of 0.31M oz Au. The near-surface Fenn-Gib gold mineralization is broadly disseminated striking east-west on the Pipestone Fault over more than 1.25 kilometers and is up to 300m wide at the west end. Mayfair Gold President and CEO Patrick Evans commented: "With the expansion of the Fenn-Gib gold zones, the mineral resources have shown significant improvement over the previous estimates. Within 18 months of acquiring Fenn-Gib, Mayfair has increased the Indicated resource size by 47 percent. The Fenn-Gib mineralization remains open for expansion in most directions, and we are excited about the near-term potential to further increase the resources with the ongoing drill program supported by three drill rigs. A large portion of the incremental tonnes reported today come from the Expansion Zone in the center of the Fenn-Gib deposit and to the east of the higher-grade Main Zone. Previously poorly defined, the Expansion Zone has been the focus of Mayfair's drill program, supported by two of the three drill rigs, and has added significant tonnage to the Fenn-Gib mineral resources." The 30,000m Phase 3 infill and expansion drill program is ongoing with gold mineralization continuing to be intersected in all holes reported to date. Based on the continuing success, Mayfair expects to declare a further resource update in Q2 2023 on completion of the 110,000m drill program. The potential exists for a further significant increase in the Fenn-Gib resource. Highlights of the Updated Fenn-Gib Mineral Resource Estimate: Pit constrained Indicated resource: 47% increase in Au to 3,061,991 oz from 2,077,661 oz; Pit constrained Inferred resource: 315% increase in Au to 311,356 oz from 74,967 oz; Maiden underground resource: Inferred underground Au resource of 103,586 oz
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AMCI CVX | Hot Stocks08:13 EDT LanzaTech appoints Thompson as Head of People - LanzaTech announces Chad Thompson recently joined the company as Head of People to lead the company's strategic vision of investing in and supporting its employees. As the Head of People for LanzaTech, Thompson is responsible for developing and executing LanzaTech's global human resource strategy that aligns with its vision of scaling its technology internationally. Thompson joins LanzaTech from Chevron (CVX) North America, where he recently worked as the Vice President of Human Resources. LanzaTech has entered into a merger agreement for a business combination transaction with AMCI Acquisition Corp. II (AMCI). Upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol "LNZA".
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SMTC SWIR | Hot Stocks08:12 EDT Semtech, Sierra Wireless receive additional information requests from DOJ - Semtech (SMTC) and Sierra Wireless (SWIR) announced that each company has received a request for additional information and documentary material from the U.S. Department of Justice, or DOJ, in connection with Semtech's previously announced acquisition of Sierra Wireless. The second requests were issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Issuance of the second requests extends the waiting period under the HSR Act until 30 days after Semtech and Sierra Wireless have substantially complied with the second requests, unless that period is extended voluntarily by the parties or otherwise terminated by the DOJ. Semtech and Sierra Wireless believe the transaction will benefit customers of both companies and are cooperating fully with the DOJ in order to facilitate its review. Semtech and Sierra Wireless look forward to continuing to work with the DOJ to resolve their open questions and bring their review to a close. Of further note, Semtech received a no action letter from the Canadian Competition Bureau on October 3, satisfying the Competition Act Approval condition to closing. The parties are working to close the transaction as expeditiously as possible, within the timeframe initially provided under the arrangement agreement, which ends no later than March 3, 2023, unless extended further by mutual agreement of the parties.
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BAESY | Hot Stocks08:12 EDT U.S. Navy awards BAE Systems $143M contract, continues SCSC support - BAE Systems will continue to support the integration of various mission equipment, combat systems, and computer programs for the U.S. Navy's Surface Combat Systems Center, SCSC, in Wallops Island, Virginia with a new $143M, five-year contract. These mission-essential systems are used by sailors across the fleet for all current and future cruiser, destroyer, and amphibious ship modernization initiatives.
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IGXT | Hot Stocks08:12 EDT IntelGenx submits response to FDA CRL for RIZAPORT VersaFilm - IntelGenx announced that it has responded to the Complete Response Letter for its 505(b)(2) New Drug Application for RIZAPORT VersaFilm received from the U.S. Food and Drug Administration in March 2020. "We have been encouraged by our interactions with the FDA and are pleased to submit our response to the CRL," commented Dr. Horst G. Zerbe, CEO of IntelGenx. "Based on the feedback from our Type A meeting, we conducted additional product testing and believe that this response provides all of the additional Chemistry, Manufacturing and Controls information that the FDA required. We are looking forward to continuing to work with the Agency to make RIZAPORT VersaFilm available to acute migraine patients."
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DCO | Hot Stocks08:11 EDT Ducommun announces re-opening of its Mexico facility - Ducommun announces the grand re-opening of its new Guaymas, Mexico facility. A ribbon-cutting ceremony was held on Oct 13, 2022. The re-opening included the celebration of a newly built 70,000 sq. ft. facility along with an additional 45,000 sq. ft. building, both to support production of Ducommun's VersaCore Composite technology, composite/metal bond flight controls, electronic wire harnesses and aerostructures manufacturing. "I'm excited about the re-opening and also expansion of our operation in Mexico. This will be a high leverage point to further enable revenue and earnings growth by providing the highest value and quality products to the Aerospace and Defense industry," said Stephen Oswald, Ducommun's chairman, president and chief executive officer.
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ORCL HSBC | Hot Stocks08:10 EDT Oracle, HSBC partner to accelerate digital transformation - Oracle (ORCL) and HSBC (HSBC) announced a strategic collaboration to accelerate the bank's digital transformation. Under the multi-year agreement, HSBC will upgrade and migrate select database systems to Oracle Exadata Cloud@Customer, a cloud platform delivered as a managed infrastructure service in HSBC's own data centers. The deployment will help support and scale the bank's mission-critical systems and services.
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INFN | Hot Stocks08:10 EDT Infinera's coherent transport solution selected by Algar Telecom - Infinera announced that Algar Telecom has selected Infinera to modernize and scale its subsea network infrastructure. Powered by Infinera's ICE6 800G optical engine, GX Series Compact Modular Platform, and FlexILS Open Optical Line System, the Infinera subsea solution enables Algar Telecom to increase spectrum capacity and reduce transport cost per bit. As part of its ongoing network modernization initiatives, Algar Telecom will deploy Infinera's technology to increase capacity on its jointly owned Monet Cable System connecting Boca Raton in Florida with landing sites in Fortaleza and Praia Grande in Brazil, expanding its spectrum service offerings and paving the way for new operator partnerships.
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AVTE | Hot Stocks08:08 EDT Aerovate Therapeutics presents Phase 2b/Phase 3 IMPAHCT trial design - Aerovate Therapeutics presents the design of IMPAHCT, a Phase 2b/Phase 3 trial investigating the safety and efficacy of AV-101 in adults with pulmonary arterial hypertension, at the American College of Chest Physicians Annual Meeting in Nashville, TN. The IMPAHCT trial, which was initiated in December 2021, is a multi-national trial consisting of three parts: Part one: Part one, which is the Phase 2b portion of the trial, will assess the safety, tolerability, and efficacy of three twice-daily doses of AV-101 against placebo and establish an optimal dose for Phase 3. The primary endpoint for this part is change in pulmonary vascular resistance after 24 weeks compared to placebo. Part two: Part two begins immediately following enrollment of the last participant in the Phase 2b part of the trial and signifies the start of enrollment in the Phase 3 trial. Part two uses the same dosing as in the Phase 2b part of the trial with participants randomized across three AV-101 doses and placebo. Enrollment in part two will continue until the optimal AV-101 dose is selected based on results from the Phase 2b analysis. Part three: This part of the trial will start once an optimal dose of AV-101 has been selected based on the Phase 2b results. All patients enrolling during this part of Phase 3 will be randomized to either the optimal dose of AV-101 or placebo. The primary endpoint for Phase 3 is change in six-minute walk distance at 24 weeks for the optimal dose of AV-101 compared to placebo. In addition to PVR and 6MWD, multiple additional endpoints will be evaluated including changes in WHO Functional Class, REVEAL Lite 2.0 risk score, NT-proBNP, and quality of life along with assessments of clinical worsening, clinical improvement, safety and tolerability, and pharmacokinetics.
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GE | Hot Stocks08:07 EDT GE Healthcare,Tribun Health team to advance digital transformation of pathology - GE Healthcare and Tribun Health have entered a collaboration with the intent to provide digital pathology departmental solutions that give healthcare providers a more holistic view of patient records. The alliance intends to bring a data management solution by interfacing Tribun's Health Suite data into GE Healthcare's solution, such as GE Healthcare's vendor neutral archive, Edison Datalogue. It is expected to focus on making digital pathology images and results an integrated part of the imaging patient record within the VNA; the availability of more accurate pathology reports in less time, created with the assistance of artificial intelligence provided by Tribun's Health Suite; and fostering collaboration among pathologists and clinicians through availability of data in a consolidated location. Having pathology information is critical, especially in oncology, to enable collaboration, while improving the speed of diagnosis. The market is rapidly evolving towards data-driven healthcare. In addition, the shortage of clinicians and increase in oncology cases globally are driving the need for development of AI to support early detection of cancers1
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BDRBF | Hot Stocks08:07 EDT Bombardier to inaugurate Miami-Opa Locka service center on Oct. 31 - Bombardier is pleased to announce that it will officially inaugurate its newest service centre in the U.S., located at the Miami-Opa Locka Executive Airport in Miami-Dade County, Florida. Bombardier's Leadership team, customers, VIP guests and members of the media will be invited to attend the ceremony on Oct. 31, 2022, in Miami. Once fully operational, the new 300,000 square foot facility will more than quadruple Bombardier's current maintenance footprint in Florida and allow the company to transfer its service centre operations from Fort Lauderdale to the new one-of-a-kind customer service centre at Miami-Opa Locka Executive Airport, located close to Miami's bustling business district. The new facility will be fully equipped to perform extensive and complete full-service scheduled and unscheduled heavy maintenance, including paint enhancement services, to help reduce aircraft downtime. It will be fully equipped to perform scheduled and unscheduled maintenance, aircraft modifications, avionics installations, and Aircraft on Ground Support for Bombardier's business aircraft fleet of Learjet, Challenger, and Global aircraft.
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VSAT | Hot Stocks08:07 EDT ViaSat and Inmarsat's combination approved by Australia's FIRB - Viasat and Inmarsat, a provider of global mobile satellite communications services, announced that the Australian Government's Foreign Investment Review Board, or FIRB, has confirmed it has no objections to the planned combination of their businesses. The proposed transaction has already secured several key regulatory approvals, most recently with the UK Government's clearance of the proposed transaction under the National Security and Investment Act, and over the summer from the Committee on Foreign Investment in the U.S.
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WMT | Hot Stocks08:07 EDT Walmart launches new creator platform - Walmart announced the launch of a new platform designed around creators. The program is called Walmart Creator and it's a one-stop portal that makes it easy for creators to monetize shoppable products from the retailer. Creators who sign up will have access to tens of thousands of products and are given the opportunity to earn revenue all while earning commissions on sales they refer with no cap. Users of the platform can share product links to any social platform or group of their choice, receive product recommendations based on interests and affinities, and collect valuable performance data to help grow their community and following.
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BFI | Hot Stocks08:06 EDT BurgerFi announces expansion up the Eastern Seaboard - BurgerFi announced its expansion up the Eastern Seaboard. The brand has opened 10 restaurant locations over the past 10 months and has opened its 15th Gopuff ghost kitchen location. The new locations come during a period of growth for the award-winning burger chain. Seven of these new restaurants are franchisee-owned, which speaks to the benefit of having a flexible footprint, high-quality ingredients, and a special focus on the overall guest experience. Additionally, the anticipated opening of BurgerFi ghost kitchens in 30 Gopuff fulfillment centers across the country this year aims to address customers' continuous demand for takeout and delivery options.
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IMMX | Hot Stocks08:05 EDT Immix Biopharma approves 4 additional clinical trial sites for IMX-110 - Immix Biopharma announced that it has approved 4 additional clinical trial sites for IMX-110 clinical trials, complementing existing soft tissue sarcoma lead clinical trial site in California. Once dosing begins, patients will undergo CT scans every 8 weeks to assess tumor response to IMX-110; results are expected to be released on a rolling basis beginning in Q1 2023. "We are excited to select these 4 preeminent oncology sites to join our clinical site consortium from a larger group of interested centers. We are humbled by the enthusiasm from these key opinion leaders to bring IMX-110 to their patients," said Ilya Rachman, MD PhD, CEO of ImmixBio. "These KOLs are excited about both IMX-110 as a monotherapy, and in combination with BeiGene and Novartis' anti-PD-1, tislelizumab."
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HD | Hot Stocks08:05 EDT Home Depot launches Path to Pro Network - The Home Depot launched a new jobseeker marketplace created to connect skilled tradespeople to hiring trades professionals in the construction and home improvement industries. According to a new survey conducted by The Home Depot in partnership with Morning Consult, half of trades professionals say that determining whether an applicant is qualified for a job is an obstacle to hiring. Skilled trades jobseekers can visit PathtoPro.com to create a profile, upload their resume and add photos of their work to connect with The Home Depot's Pro customers looking to hire in their local area. To help jobseekers showcase their skills, the Path to Pro Network features skill badges that indicate if someone has accredited training, is a U.S. Military Veteran, or has graduated from The Home Depot's free trades training program.
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THRM | Hot Stocks08:05 EDT Gentherm's ClimateSense Technology to launch on the 2024 Cadillac CELESTIQ - Gentherm announced that it has been selected by Cadillac to supply ClimateSense on the 2024 Cadillac CELESTIQ. CELESTIQ will be the first to market vehicle to feature a Gentherm ClimateSense four-zone microclimate system as standard equipment. "We are honored that the Cadillac CELESTIQ will feature the industry's first deployment of our ClimateSense system that offers advanced cabin climate technologies, electronics and software algorithms that help deliver luxurious, efficient and personalized comfort for every occupant," said Phil Eyler, Gentherm's President and CEO. "The ClimateSense system on the CELESTIQ marks a turning point in how automakers can view cabin comfort by providing rapid and efficient heating and cooling to the occupant while maximizing energy efficiency and optimizing driving range and comfort."
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IVCGF | Hot Stocks08:05 EDT Iveco Group inaugurates ePowertrain plant in Turin - FPT Industrial inaugurated the new Turin ePowertrain plant, a manufacturing site fully dedicated to the production of the electric powertrain range and Iveco Group's first totally carbon-neutral plant. Covering a total area of 15,000 sq meters, the plant generates its own energy with solar panels and other innovative photovoltaic and wind power technologies, purchases additional energy from renewable sources and buys carbon credits to fully offset its CO2 emissions. A 6,000 sq meter internal space planted with 100 drought-resilient plants adds a further expected absorption of CO2 of approximately 7 tons a year. At full capacity, the plant will employ about 200 people to produce over 20,000 electric axles and over 20,000 battery packs a year. The electric axles will equip heavy-duty vehicles such as the Nikola Tre truck, while the electric transfer boxes and compact battery packs will be installed on light commercial vehicles and minibuses, such as the new IVECO eDAILY. Both these zero-emission vehicles were presented at IAA Transportation trade show in Hannover, Germany, one month ago.
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CRL | Hot Stocks08:05 EDT Charles River and Nanoscope team on multifaceted gene therapy manufacturing - Charles River Laboratories and Nanoscope Therapeutics a clinical-stage biotechnology company developing gene therapies for retinal degenerative diseases, today announced a comprehensive manufacturing collaboration utilizing Charles River's extensive contract development and manufacturing, CDMO. services in both plasmid DNA and viral vectors. Through this partnership, Nanoscope will have access to established manufacturing platforms and multiple Charles River CDMO centers of excellence, leveraging a comprehensive range of services including, but not limited to, Good Manufacturing Practice cell banking, High Quality and GMP-grade plasmid DNA manufacture, and GMP adeno-associated virus production. This gene therapy manufacturing partnership builds on Charles River's acquisitions of Cognate BioServices, Cobra Biologics, and Vigene Biosciences in 2021 that expanded its comprehensive cell and gene therapy portfolio to span each of the major CDMO platforms - cell therapy, viral vector, and plasmid DNA production. "Nanoscope looks forward to working with Charles River to support our accelerated development program. We have high expectations for our program and are counting on Charles River leadership, resources and scale to deliver in this partnership." - Anil Lalwani, Vice President, CMC, Nanoscope Therapeutics
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SPXSY | Hot Stocks08:03 EDT Spirax-Sarco adds Steam-Tight PEEK seats to Spira-trol line - Spirax Sarco US announces the addition of Steam-Tight PEEK seats to its Spira-trol line of modular control valves, which ship in four days or less through the company's Quick Ship program. The valves leave the factory preconfigured for the intended application, simplifying installation and minimizing customer downtime.
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FIS | Hot Stocks08:03 EDT FIS CEO Gary Norcross to switch roles to chairman, Stephanie Ferris to succeed - FIS announced the appointment of Stephanie Ferris as president and CEO. In addition to her current role as president, Ferris will take over as CEO from Gary Norcross who has served as the company's CEO for the last eight years and chairman since 2018. Ferris will assume the president and CEO role on January 1, 2023, when Norcross takes on the role of executive chairman of the board. Ferris was also appointed to the FIS board of directors. FIS also announced that Norcross, current CEO and chairman of the board of directors, will assume a new full-time role as executive chairman of the board.
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PRLD | Hot Stocks08:03 EDT Prelude Therapeutics receives FDA clearance of IND for PRT3789 - Prelude Therapeutics announced that the U.S. Food and Drug Administration, FDA, cleared the company to proceed with a Phase 1 study under its Investigational New Drug Application, IND, for PRT3789, a first-in-class potent and selective SMARCA2 protein degrader. The company anticipates dosing the first patient in Q1 of 2023. "Clearance of the IND for PRT3789 represents a major milestone for Prelude Therapeutics, as we advance our first-in-class SMARCA2 protein degrader from discovery to the clinic... Patients with specific SMARCA4 loss of function mutations can be easily identified with standard next generation sequencing panels and understanding how to best identify the patients who will benefit the most from PRT3789 will be investigated in the Phase 1 study," said Dr. Jane Huang, President and Chief Medical Officer of Prelude. The Phase 1 study of PRT3789 will enroll patients with advanced solid tumors in a biomarker selected SMARCA4 mutated population.
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GLG | Hot Stocks08:03 EDT TD Holdings to acquire controlling interest in Shenzhen Tongdow for RMB650M - TD Holdings announced that on October 18, through its wholly-owned subsidiary, Shenzhen Baiyu Jucheng Data Technology Co., Ltd., and Shanghai Zhuotaitong Industry Co., have entered into an exclusive option agreement and a ten-year exclusive business cooperation agreement which provide the company the exclusive option to acquire a controlling interest of Shenzhen Tongdow Internet Technology Co., Ltd, an integrated service provider for an online to offline e-commerce commodities trading platform in China, and further propel the company's global commodities trading market presence. Pursuant to the Agreements, the company agrees to acquire 65% of the equity interests of STIT from SZIC in consideration of RMB650M in cash. The company also agrees to provide complete customer support, business support and related supply chain management services to STIT. The acquisition is subject to a fairness opinion and valuation report of STIT from an independent third party. Management expects the acquisition to be completed in a month. As the transaction proceeds, the company will publicly disclose required information either through press releases or SEC filings, as appropriate.
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AMSC | Hot Stocks08:02 EDT AMSC announces $30M of new energy power system orders - AMSC announced $30M of new energy power systems orders. This includes orders for enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers and transformers. Nearly one third of the revenue from these orders is expected to be recognized in fiscal year 2022.
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VIR | Hot Stocks08:01 EDT Vir Biotechnology announces first patient dosed in Phase 2 trial of VIR-2482 - Vir Biotechnology announced that the first participant has been dosed in the Phase 2 PENINSULA trial evaluating VIR-2482 for the prevention of illness due to influenza A. This trial is the first to evaluate the role of a monoclonal antibody in the prevention of influenza A illness. "Each year, seasonal flu is responsible for hospitalizing millions of people around the world and causing hundreds of thousands of deaths," said Phil Pang, M.D., Ph.D., executive vice president, chief medical officer and interim head of research at Vir Biotechnology. "With current flu vaccine effectiveness rates averaging 40%, additional prevention approaches are urgently needed, especially for those at highest risk. VIR-2482 has been designed as a single, easy-to-administer intramuscular dose to provide immediate protection against influenza A for the duration of the flu season, and we believe that its broad strain coverage could provide consistent, year-over-year protection against both seasonal influenza A strains and future flu pandemics. VIR-2482 has the potential to fill a critical gap in the prevention of illness, and we look forward to learning more from this new Phase 2 trial."
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LMT | Hot Stocks07:52 EDT Lockheed Martin sees FY22 Aerospace sales $26.75B, MFC sales $11.2B - Sees FY22 RMS sales $16B, with Space sales $11.3B. Sees FY Aero segment operating profit $2.85B, MFC segment operating profit $1.625B, RMS segment operating profit $1.66B, and Space segment operating profit $1.04B. Comments taken from Q3 earnings conference call presentation slides.
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AUSAF | Hot Stocks07:47 EDT Australis Capital completes first New York cannabis harvest - Australis Capital is pleased to announce that the Company, together with its partner Hempire, has successfully completed its first harvest of adult use cannabis in New York State. Following the successful harvest, the Company has shipped its flower for processing and manufacturing into vapes and edibles. This process will be overseen by Anthony DeMeo. DeMeo currently also holds the position of co-chair of Commercial Extraction and Manufacturing at Oaksterdam University. The Company is in negotiations with dispensary license candidates to secure pre-sales of its product. The Office of Cannabis Management and Cannabis Control Board recently reiterated that the first adult-use marijuana sales will happen before 2023. Governor Kathy Hochul is also on record stating that the timeline remains on track, with about 20 dispensaries coming online per month after the initial launch.
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SKE | Hot Stocks07:46 EDT Skeena Resources announces drilling results from Eskay Creek Project - Skeena Resources announces drilling results from the 2022 regional and near mine exploration programs at the Eskay Creek gold-silver Project in the Golden Triangle of British Columbia. 21A West Zone Continuity Develops: Building upon the in-pit mineralization discovered in 2021 by drill hole SK-21-997 which intersected high-tenor gold mineralization averaging 8.78 g/t Au, 13 g/t Ag over 34.00 m and recently expanded by 2022 drill hole SK-22-1093 47.50 g/t Au, 73.4 g/t Ag over 12.12 m, drillhole SK-22-1031 has intersected 2.21 g/t Au, 4.6 g/t Ag over 50.00 m. Due to the lack of historical drilling in this portion of the 21A Zone, the area was considered as barren waste rock for both the 2022 Resource Estimate and Feasibility Study. This recently discovered feeder-style mineralization occurs within the footwall Rhyolite sequence immediately below the Contact Mudstone and will be incorporated into the future resource and economic updates for the Eskay Creek Project. The limited drilling to date in the 21A West Zone indicates that precious metal tenor typically increases vertically up stratigraphy with closer proximity to the Contact Mudstone. The ongoing 2022 exploration program has not yet fully defined the extents of the 21A West Zone. As is the case with similar feeder style mineralization in other portions of the Eskay Creek deposit, zone geometry is well established and hole to hole continuity of mineralization is very predictable to date. The new intersection in hole SK-22-1031 highlighting 2.27 g/t AuEq over 50.00 m is 75 metres south along strike of the previously reported 48.48 g/t AuEq over 12.12 m in hole SK-22-1093. 23 Zone Expanded to South: Situated 500 metres south of the currently defined mineralization in the 23 Zone, recently competed exploratory drill hole SK-22-1040 has intersected 0.78 g/t Au, 0.8 g/t Ag over 95.75 m hosted entirely within the dacite package and Even Lower Mudstone, which is consistent with the 23 Zone mineralization. This new discovery begins only 25 metres below surface and is open for expansion. Exploration Status Update: The Company is currently performing expansion and infill drilling with six helicopter supported drill rigs at the Eskay Creek Project. The focus is to expedite not only the organic growth of open pittable resources in the 23, 21A West and 22 Zones, but to infill these new zones for ultimate conversion to Probable Reserves.
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NEXCF | Hot Stocks07:44 EDT Nextech AR Solutions announces $6.7M 3D model purchase order - Nextech AR Solutions announced it has received its single largest purchaser order to date of $6.7 million from a NASDAQ 100 technology company. The 3D models related to this $6.7M order are to be delivered in the calendar year 2023. With the previously announced $700,000 3D model order to be delivered in Q4, 2022 the total new orders recently announced equals $7.4M. These new 3D model orders set the stage for record growth in its 3D modeling business for the foreseeable future. While $6.7M is the most substantial 3D modeling order Nextech AR has received to date, the Company is still in negotiations for additional significant 3D modeling contracts from large enterprise customers, which it expects to announce shortly.
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AVCNF | Hot Stocks07:42 EDT Avicanna launches medical cannabis education portal 'Avicenna Academy' - Avicanna announced that it has launched its medical cannabis education portal, "Avicenna Academy", a no-cost resource and medical education portal for Health Care Professionals. The medical education portal is designed to support HCPs through education and practical information with respect to the potential use of medical cannabis, with a view towards expanding access as well as measuring patient outcomes. The Avicenna Academy is designed to address the potential gaps in understanding cannabinoid-based products while making available resources and information which may be tools for the medical community. Towards that goal, Avicanna's medical team has combined its research and development expertise with cannabinoid formulations utilizing advanced drug delivery systems. Practical experience in delivering RHO Phyto medical cannabis products through established medical portals, pharmacies, major hospitals both in Canada and international markets has allowed Avicanna to develop various educational resources such as downloadable guides, online modules, and access to discussions with key opinion leaders across a range of medical specialities.
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STT | Hot Stocks07:42 EDT State Street intends to repurchase $1B of common stock in Q4 - O'Hanley concluded: "Our continued strong results generated excess capital, which we are committed to returning to our shareholders as evidenced by our intention to repurchase approximately $1 billion of common stock in the fourth quarter of 2022. This plan for significant share repurchases, coupled with the recently announced 10% per share increase in our quarterly common stock dividend underscores our earnings strength."
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LMT | Hot Stocks07:40 EDT Lockheed Martin CEO says positioned well to achieve full-year commitments - "Lockheed Martin delivered a solid quarter, highlighted by strength in free cash flow, orders, and operating margins, that positions us well to achieve our full-year commitments," said Lockheed Martin Chairman, President and CEO James Taiclet. "Our continuing ability to deliver strong financial performance in turn enables further investments in the 21st Century Security technologies essential to support our customers in conducting effective Joint All-Domain Operations. These technologies include hypersonics, directed energy, and autonomy, as well as cutting edge digital capabilities in our evolving 5G.MIL open standards-based architecture. In addition, we are investing in production and sustainment capacity for the solutions needed now to defend our allies and our nation, including F-35, Javelin and HIMARS. Moreover, we today announced an additional $14 billion in share repurchase authority to go with our recently increased, industry-leading dividend for the benefit of our investors."
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GS | Hot Stocks07:40 EDT Goldman Sachs CEO sees 'good chance' of recession - CEO David Solomon is speaking on CNBC.
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TRP PBA | Hot Stocks07:40 EDT TC Energy, Pembina Pipeline enter into carbon sequestration evaluation agreement - Alberta Carbon Grid announced that TC Energy (TRP) and Pembina Pipeline (PBA) have entered into a carbon sequestration evaluation agreement with the Government of Alberta to further evaluate one of the largest Areas of Interest for safely storing carbon from industrial emissions in Alberta. This agreement will allow the ACG to move forward into the next phase of the province's Carbon Capture Utilization and Storage process to provide confidence to customers, Indigenous communities, stakeholders and Government in the project's carbon storage capabilities. ACG has secured the rights to evaluate over 900,000 hectares of premiere land north of Fort Saskatchewan, Alberta that could potentially support a variety of customers throughout Alberta especially those in the Industrial Heartland region. The project's AOI is considered an ideal CO2 storage location because of its proven deep porous geological formations and ability to handle decades of storage capacity. Based on ACG's preliminary analysis, there's confidence in the geological characteristics within the AOI as an excellent long-term and permanent CO2 storage option. The evaluation agreement will allow ACG to further examine the subsurface properties and qualities to prove this.
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GBARF | Hot Stocks07:38 EDT Monarch Mining announces additional results from Swanson gold project - Monarch Mining reports that it has received additional results from the 2021-2022 drilling program on its wholly-owned Swanson gold project, including more high-grade assays and wider mineralized zones. Comprising a contiguous group of 127 map-designated claims and one mining lease covering an area of 5,125.8 ha, the Swanson property lies 65 kilometres northeast of Val-d'Or, Quebec, and just 50 kilometres north of Monarch's wholly owned 750 tonne-per-day Beacon mill. "We continue to establish the continuity of the mineralized corridor at depth," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "These drill results push the limits of the mineralization even further out from the currently defined mineral resource envelope and the proposed pitshell."
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WFRD | Hot Stocks07:38 EDT Weatherford announces redemption of $125M prinicipal amount of senior notes - Weatherford International announced it intends to use cash on hand to redeem $125M principal amount of its 11.0% senior notes due December 1, 2024 on November 17, 2022.
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WFRD | Hot Stocks07:37 EDT Weatherford enters into $370M amended, restated credit facility - Weatherford International announced that on October 17, 2022 certain of its wholly-owned subsidiaries entered into a credit agreement, which amended and restated the Company's existing secured letter of credit agreement, dated December 13, 2019, as amended. Total aggregate commitments under the Credit Facility are $370M of which $45M is available for revolving loans. The amount available for revolving loans can be increased by up to an additional $100M as the Company meets certain leverage ratios and subject to lenders' consent. The Credit Facility will allow the Company to transfer certain cash collateralized letters of credit to the Credit Facility, resulting in lower aggregate cash collateral requirements. The Credit Facility also provides the Company the flexibility, upon satisfaction of certain conditions, to request incremental increases in the aggregate commitments under the Credit Facility to not more than $600M. The maturity date under the Credit Facility is October 17, 2026, subject to certain conditions.
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ANPC | Hot Stocks07:36 EDT AnPac Bio announces plan to implement ADS ratio change - AnPac Bio-Medical Science announced that it plans to change the ratio of the Company's American Depositary Shares, ADS, to its Class A ordinary shares from one ADS representing one Class A ordinary share to one ADS representing twenty Class A ordinary shares. The change in the ADS ratio is expected to take place on November 4, 2022. For the Company's ADS holders, the change in the ADS ratio will have the same effect as a one-for-twenty reverse ADS split. Effective November 4, 2022, registered holders of the Company's ADSs held in certificated form will be required on a mandatory basis to surrender their certificated ADSs to the depositary bank for cancellation and will receive one new ADS in exchange for every twenty existing ADSs then-held. Holders of uncertificated ADSs in the Direct Registration System and in The Depository Trust Company will have their ADSs automatically exchanged and need not take any action. The exchange of every twenty then-held ADSs for one new ADS will occur automatically, at the effective date, with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank. The ADSs will continue to be traded on Nasdaq under the symbol "ANPC." There will be no change to the Company's Class A ordinary shares.
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FCN | Hot Stocks07:35 EDT FTI Consulting names Wrobel as Global Leader of ESG & Sustainability offering - FTI Consulting announced the appointment of Miriam Wrobel as Global Leader of the firm's growing ESG & Sustainability offering. Wrobel, a Senior Managing Director based in San Francisco, joined FTI Consulting in 2021 and advises clients on ESG and energy transition strategy, transaction structuring and due diligence. She will lead a diversified team of professionals across FTI Consulting's global network who work on ESG and sustainability-related matters.
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LMT | Hot Stocks07:34 EDT Lockheed Martin reports Q3 cash from operations $3.1B; free cash flow $2.7B
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LMT | Hot Stocks07:34 EDT Lockheed Martin announces additional $14B in share repurchase authority - On October 17, the company's board authorized the purchase of up to an additional $14B of Lockheed Martin common stock under its share repurchase program. This multi-year share repurchase program follows the substantial completion of purchases of common stock under the prior repurchase authorization. The company anticipates executing a $4B accelerated share repurchase program in the fourth quarter, bringing the total share repurchases for the year to approximately $8B. The remainder of the repurchase program authorization is expected to be utilized over a three-year period. The company expects to fund the repurchases through a combination of cash on hand and the issuance of debt.
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GS | Hot Stocks07:33 EDT Goldman Sachs CEO: Marcus still important part of firm
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IKNA AZN | Hot Stocks07:33 EDT iKena Oncology provides research, development update on IK-930 program - Ikena Oncology (IKNA) provided a research & development update on the Company's lead targeted oncology program in TEAD inhibition. Ikena also announced a clinical trial collaboration agreement with AstraZeneca (AZN) for the evaluation of TAGRISSO, a third-generation epidermal growth factor receptor tyrosine kinase inhibitor, in combination with Ikena's IK-930 as treatment for patients with EGFR-mutated non-small cell lung cancer. "Patients with Hippo-altered cancers are in need of therapies that are effective, safe, and significantly improve their quality of life. IK-930 is specifically designed as a paralog-selective TEAD inhibitor that has the potential to provide patients with a differentiated treatment option," said Mark Manfredi, PhD, Chief Executive Officer of Ikena. "As a first in its class, IK-930's selectivity profile has potential to distinguish itself not only as a monotherapy, but in combination with other targeted therapies where resistance has emerged. I am thrilled AstraZeneca shares in this vision and that we will be exploring IK-930 in combination with osimertinib." The ongoing IK-930 clinical trial has planned cohorts exploring combinations with targeted therapies in which treatment-induced activation of the Hippo pathway may drive resistance. The first combination cohort will be evaluating IK-930's potential to overcome resistance to EGFR inhibitors. Preclinical results demonstrate that IK-930 combined with osimertinib results in increased induction of apoptosis and improved anti-tumor activity in multiple EGFRm tumor models. This benefit is mediated in part by the Hippo pathway's role in the proliferation of persister cells, a subpopulation of cancer cells that drive EGFR resistance through TEAD-mediated induction of genes involved in cell cycle re-entry, DNA replication and apoptosis avoidance. Further data on the effectiveness and differentiation of IK-930 in multiple animal models both as a monotherapy and in combination with other targeted therapies will be presented at upcoming conferences, and initial clinical data from the first in human Phase 1 study are expected in 2023.
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ALYA | Hot Stocks07:33 EDT Alithya Group partners with OneWorldSIS for higher education solutions - Alithya Group signed a partnership agreement with OneWorldSIS, provider of the OneWorldSIS Student Information System for educational institutions. This new partnership expands Alithya's Microsoft Dynamics 365 CRM offerings to include a solution tailored to the operational needs and administrative functions of educational institutions.
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LMT | Hot Stocks07:32 EDT Lockheed Martin reports increased backlog to $140B
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THRY | Hot Stocks07:32 EDT Thryv Holdings announces Canadian headquarters - Thryv Holdings is expanding its reach in Canada through direct investments, including a new regional headquarters in Toronto and new partnerships to increase availability of cloud-based services for SMBs. Thryv aims to create efficiencies and increase profitability for the more than 1.5M SMBs in Canada. Direct investments in the region include an office in Toronto, which will open later in 2022 as a regional headquarters, and the hiring of a new Canadian sales team.
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GS | Hot Stocks07:32 EDT Goldman Sachs jumps 1.4% in premarket trading following release of Q3 results
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KAL | Hot Stocks07:32 EDT Kalera to divest seed genetics business, international assets - Kalera Public Limited Company announced that it intends to divest its subsidiary, Vindara, and the assets of its international business. Vindara is expected to continue serving Kalera's strategic custom seed needs and serving other indoor farming companies. The international business includes the previous &ever GmbH management team, and farming assets in Kuwait and Singapore. "We expect that these divestitures will address the strategy we announced in September to bring our U.S. farms to cash flow positive much faster than anticipated while reducing capital requirements for all Kalera holdings," said Jim Leighton, President and CEO of Kalera. This will allow the Orlando headquartered management team to focus all efforts on U.S. Farms and reduce its monthly cash burn rate. "These transactions align with our capital light business model we discussed in our analyst and investor event last month," Leighton said. "It will allow us to stay laser focused on bringing our U.S. farms to cash flow positive faster while reducing our capital requirements."
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GS | Hot Stocks07:32 EDT Goldman Sachs CEO: Fundamentals not changing with reorganization - CEO David Solomon is speaking on CNBC.
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ALGS | Hot Stocks07:31 EDT Aligos Therapeutics to present data on pan-coronavirus protease inhibitors - Aligos Therapeutics announced that the Company will make an oral presentation at the Cambridge Healthtech Institute's 20th Annual Discovery on Target Conference being held October 17-20, 2022 in Boston, MA. In the presentation, Aligos will review its progress towards the development of broadly-acting, orally available small molecule protease inhibitors to address COVID-19, regardless of the strain. "While the new vaccines and therapeutics for COVID-19 have been very important, there is a need for more effective treatment and the continued emergence of new, dominant SARS-CoV-2 variants highlights the need for therapies that are effective regardless of the strain," said Lawrence Blatt, PhD, MBA, CEO and Chairman and Co-Founder of Aligos. "Aligos is developing a small molecule, orally-available potential treatment for COVID-19 designed inhibit the highly conserved 3CL protease with strong potency and broad activity against a diverse range of coronaviruses, with a high barrier to resistance. We are pleased to have an opportunity to share an update on this program as we progress towards the first clinical study for our lead candidate, ALG-097558, expected to be initiated in the first half of 2023."
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LMT | Hot Stocks07:31 EDT Lockheed Martin announces additional $14B in share repurchase authority
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GS | Hot Stocks07:31 EDT Goldman Sachs to have three new operating segments - The operating segments will be: Asset and Wealth Management; Global Banking & Markets; and Platform Solutions. CEO David Solomon tells CNBC that the reorganization will serve clients better.
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GS | Hot Stocks07:30 EDT Goldman Sachs CEO tells CNBC that operating environment is 'challenging' - David Solomon tells CNBC in an interview that M&A activity is still "relatively robust."
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GS | Hot Stocks07:29 EDT Goldman Sachs continues to 'prudently' manage resources, says CEO
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GS | Hot Stocks07:28 EDT Goldman Sachs announces realignment of businesses - Chairman and CEO David Solomon said: "In January 2020, we outlined our strategy in clear and direct terms, introducing a plan to grow and strengthen our core businesses, diversify our products and services, and operate more efficiently as we drive higher, more durable returns. Today, we enter the next phase of our growth, introducing a realignment of our businesses that will enable us to further capitalize on the predominant operating model of One Goldman Sachs as we better serve our clients."
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GS | Hot Stocks07:26 EDT Goldman Sachs reports Q3 trading revenue $6.2B - Reports Q3 investment banking revenue $1.54B. Reports Q3 FICC sales and trading revenue $3.53B.
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GS | Hot Stocks07:25 EDT Goldman Sachs reports Q3 annualized ROE 11%, annualized ROTE 12% - Reports Q3 book value per share $308.22.
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INST | Hot Stocks07:24 EDT Instructure's Elevate data hub selected by Missouri's educational network - Instructure has entered into a multi-year agreement with the Missouri Research and Education Network, or MOREnet, to help K-12 districts throughout Missouri streamline their data integration and analytics efforts through a statewide implementation of Instructure's Elevate Data Hub to enable districts to operate across disparate systems. Elevate K-12 Analytics will provide interactive visualization. In addition, since 2016, MOREnet has made the Canvas LMS available to districts statewide. MOREnet supports nearly 500 K-12 school districts in Missouri, serving more than 827,000 students. Shortly after phase one of this project, MOREnet will offer data integration capabilities to their consortium's 58 higher education institutions. MOREnet is both a data network as well as a human network that provides Internet connectivity, essential technical services, resources and support, as well as technical training to Missouri's public sector entities.
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LASE | Hot Stocks07:21 EDT Laser Photonics introduces new MARLIN line of products - Laser Photonics introduced the soon to be released MARLIN, or Marine Application Rust Laser Inhibitor, line of products. The Company expects the first MARLIN product to be commercially available before the end of the year.
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WNRS | Hot Stocks07:20 EDT Winners says subsidiaries' gross revenues up over 19% vs. last month - Winners announced that VegasWinners and The Longshot Report gross revenues are up over 19% this month as compared to the same period last month. The company said, "The metrics for the customer acquisition funnel ad campaigns continue to substantially increase our database of sports gamblers materially increasing subscription and referral-based income for both Subsidiaries. The NEW VegasWinners funnel is attracting thousands of impressions and visitors to the site daily and hundreds of fresh leads turning into paid subscribers daily. The compound effect of the subscription model has already started to take place, with weekly subscribers renewing! With Football now live, we are increasing our daily ad spend as we are getting new committed leads under the $10 metric. These customers are turning into $99 to $140 monthly recurring customers that have historically stayed on during football season, with the average lifetime value of $400 per paid customer."
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SILO | Hot Stocks07:19 EDT Silo Pharma enters rsearch collaboration with Columbia University - Silo Pharma announced it has entered into an agreement with Columbia University pursuant to which Silo has been granted an extension for its option to license certain assets currently under development, including Alzheimer's disease and Stress Induced Anxiety. The extension to the agreement incorporates the work of Dr. Christine Ann Denny, an Associate Professor of Clinical Neurobiology at Columbia University Irving Medical Center. Denny and her team are focusing their efforts on the molecular mechanisms underlying learning and memory, including diseases such as Alzheimer's disease. An estimated 5.8 million Americans, including one in ten people, age 65 and older, currently live with Alzheimer's disease. Dr. Denny's pioneering research into whether ketamine and the novel inventions that may be licensed by Silo may improve memory retrieval, halt, or even reverse, the process of Alzheimer's disease-related to memory loss or cognitive aging, could have life-altering implications for people suffering with everything from Alzheimer's disease to post-traumatic stress disorder. On-going research studies are currently being conducted by Silo.
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GMINF | Hot Stocks07:17 EDT G Mining Ventures announces results from drilling at Tcantinzinho Gold Project - G Mining Ventures announced results from its recently concluded delineation core drilling program at its 100%-owned Tocantinzinho Gold Project, located in the State of Para, Brazil. The campaign has successfully confirmed the continuity of higher-grade gold in the main pit area, confirmed that the mineralization extends below the existing pit shell, and increased the definition of areas to be mined during pre-production. Highlights of recent results are outlined below, where all intercepts are presented as calculated true width, unless stated otherwise: bConfirmation of continuity of mineralization and presence of a high-grade core: 193.6m of 1.48 g/t Au Including high-grade intercepts of 12.8m of 4.59 g/t Au and 5.0m of 10.61 g/t Au; 144.7m of 1.70 g/t Au Including high-grade intercepts of 13.7m of 2.41 g/t Au and 41.0m of 3.62 g/t Au; 126.5m of 1.55 g/t Au Including high-grade intercepts of 5.1m of 4.52 g/t Au and 9.4m of 4.65 g/t Au; 175.9m of 1.03 g/t Au Including high-grade intercepts of 24.5m of 3.22 g/t Au and 5.6m of 5.05 g/t Au; Confirmation of mineralization outside of the feasibility study pit shell: 72.1m of 1.05 g/t Au including 14.8m of 3.45 g/t Au; 10.4m of 0.98 g/t Au including 4.8m of 1.67 g/t Au. Louis-Pierre Gignac, President & CEO, commented: "Our latest drilling at TZ confirms the presence of high-grade zones within the main deposit, with mineralization now extending below the current pit design. Results confirm that mineralization is continuous along width close to 200 meters and to a depth of 400 meters. While we are primarily focused on mine construction, upcoming exploration drilling will be conducted on the near-mine Castor target, where successful sampling and reconnaissance drilling has returned strong results."
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ALTG | Hot Stocks07:14 EDT Alta Equipment Group to acquire Evercore in in highly accretive' deal - Alta Equipment Group announced that it has entered into a definitive agreement to acquire Ecoverse Industries , a full line distributor of industry-leading environmental processing equipment headquartered in Avon, Ohio, with 15 sub dealers throughout North America. "The acquisition of Ecoverse is exciting for our business as it represents our first investment into large-scale equipment distribution, giving us the master dealer rights to distribute best-in-class environmental equipment to dealers and customers throughout North America," said Ryan Greenawalt, Chief Executive Officer of Alta. "Ecoverse has a long standing track record in the environmental processing equipment sector as a distributor of high-end equipment which is used in biofuel, composting, and various waste and recycling applications. The Ecoverse acquisition immediately positions Alta as an industry leader in a sector where demand for eco-friendly waste solutions and recycling continues to grow. We welcome Ecoverse to the Alta family." The purchase price includes $42.5M in cash, $2.M of Alta common stock and a $6M million seller note, at close. In addition, the purchase price includes contingent consideration in the form of an earn-out whereby sellers can earn an additional $4M of Alta common stock and $1M of cash over a five-year period subject to future EBITA growth. To the extent EBITA remains flat at July 2022 trailing twelve-month levels throughout the earn-out period, the total purchase price will be $59M. Other iterations of the ultimate purchase price range from $51M to $67M based on future EBITA performance. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2022. Including Ecoverse, since the Company's initial public offering in 2020, Alta has completed 13 acquisitions which have contributed $440.3M in revenue, and $52.5M in Adjusted EBITDA.
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MICS FITB | Hot Stocks07:13 EDT Singing Machine secures $15M senior secured financing with Fifth Third - The Singing Machine Company (MICS) has entered into an agreement for senior secured financing with Fifth Third Bank, N.A. (FITB). Under the agreement, Fifth Third will provide the Company with up to $15M in asset-based lending during the Company's peak shipping season and reduce to $7.5M from January 1 to June 30. The new credit facility is for three years and provides for borrowing against eligible accounts receivable and inventory. It provides Singing Machine with immediate cash availability on its eligible assets and is expected to provide the Company with expanded access to working capital to operate and grow its business, including the funding of further technology innovations and prospective new revenue streams leveraging the Company's industry leading karaoke offerings. In securing the new line of financing, the Company is expected to recognize a significant reduction in interest rate on borrowings from approximately 15% under the previous facility to Prime + 0.5% with the new line of credit with Fifth Third. Although the Company does not anticipate doing so, if the line were fully utilized, it would enable the Company to avoid approximately $750,000 in interest expense when compared to the prior cost of capital.
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ROK | Hot Stocks07:12 EDT Rockwell Automation and Cognite form strategic partnership for data hub - Rockwell Automationand Cognite, a global leader in industrial data software, announced a strategic partnership to further unlock the value of manufacturing data and accelerate technological change for the industry. The partnership combines Rockwell's FactoryTalk software offering of next-generation edge connectivity to plant assets, operations management applications, and industry-tailored analytics with Cognite's leading Industrial DataOps platform, Cognite Data Fusion , to create an industrial data hub ready for enterprise-wide scaling. With one of the largest footprints in industrial automation, Rockwell products create and process data worldwide. The partnership between Rockwell and Cognite will bring to market a unique, unified, edge-to-cloud industrial data hub that makes operational, engineering, enterprise, and visual data understandable and comparable for manufacturing across industries. The offering will transform raw data into high-impact applications for real-time decision making and improved workflows that ensure safe, productive, and sustainable operations. With Cognite's proven success in the Energy industry, this partnership will further enhance the edge-to-enterprise capabilities from Sensia, Rockwell's joint venture with Schlumberger.
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OBNNF | Hot Stocks07:12 EDT Osisko Mining announces regional exploration program - Osisko Mining announces a new regional exploration program on its 100% owned Urban-Barry gold project located in the Abitibi greenstone belt, Eeyou Istchee James Bay, Quebec. The regional exploration program, to begin in early 2023, will focus largely on areas outside the Windfall gold deposit in the Urban-Barry volcanic belt and will start with 10,000 metres of drilling, and induced polarization geophysical surveys. Osisko Mining Chief Executive Officer John Burzynski commented: "We are quite excited about resuming regional programs on our extensive 2,400 square-kilometer land package. Windfall is the type-deposit for this district and we are confident that others can be found in the belt. We have had very good exploration success over the past 6 years testing exploration ideas within the 5 km squared Windfall mineralized system, discovering Lynx, Lynx 4, Triple 8, Triple Lynx, and the recent down plunge extensions of Lynx. We will now be bringing everything we've learned from the extensive work defining Windfall to areas surrounding the deposit, and to farther afield areas in similar geological contexts to try and find the next Windfall."
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APO | Hot Stocks07:11 EDT Doral Renewables secures up to $1.1B of growth capital commitments - Doral Renewables entered into an agreement to sell up to $500M of convertible notes to funds managed by Apollo affiliates and Migdal Insurance. The Notes are convertible to common equity interests in the company at a pre-money valuation of $1.5B. Doral intends to use the proceeds from the transaction to fund investments in renewable energy and storage projects being developed by the Company. In connection with the investment, Apollo partner Corinne Still will join the Company's Board.
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MDWD | Hot Stocks07:11 EDT MediWound's EscharEx featured in presentations at SAWC 2022 - MediWound announced that positive clinical data from the Company's EscharEx Phase 2 trials was featured in an oral and two poster presentations at the Symposium on Advanced Wound Care, SAWC, Fall 2022 Conference in Las Vegas, Nevada. In the oral presentation, John Lantis II, MD, Chief of Surgery at New York's Mount Sinai West Hospital, presented updated results from the EscharEx Phase 2 study: "A Phase 2 multicenter, prospective, randomized, placebo controlled, adaptive design study performed to evaluate the safety and efficacy of Bromelain-based enzymatic debridement agent in debridement of Venous Leg Ulcers". The data demonstrated EscharEx to be significantly better than gel vehicle and the non-surgical standard of care across multiple measures including incidence of complete debridement, time to achieve complete debridement and granulation tissue formation. There were no deleterious effects on wound closure, and overall, the product was safe and well tolerated. Dr. Robert Snyder, DPM, MSc, Chief Medical Director of EscharEx program, presented the second poster: "Updated Results from an Open Phase 2 Study Assessing the Safety, Efficacy and Pharmacological Effects of Bromelain-based Enzymatic Debridement Product on Biofilm and Microbial loads in patients with DFU and VLU", which highlighted data from the Phase 2 pharmacology study completed in 2022. Results from this study showed EscharEx to be safe, rapid, and highly effective in debridement of VLUs and DFUs. The data also demonstrated that EscharEx reduces wound size, biofilm, and bacterial burden.
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ATAI | Hot Stocks07:09 EDT Atai Life Sciences announces initiation of Phase 1 trial for intranasal INB-01 - atai Life Sciences announced the initiation of the Phase 1 proof-of-concept, PoC, clinical trial of intranasal INB-01, a sol-gel based, excipient technology. This is a Phase 1 two-stage, open-label, randomized study of the safety, tolerability, and effective brain delivery of INB-01. INB-01 or placebo will be administered to subjects using the Aptar Nasal Drug Delivery Device. Topline results are expected in H1 2023. "Exploring the mechanism of drug delivery is an opportunity for us to further enhance the treatment experience," said Florian Brand, Co-Founder, and CEO of atai Life Sciences. "INB-01 has the potential to provide superior drug uptake via the nose-brain barrier, reducing dose administered and dosing frequency. We are confident this will help patients and healthcare practitioners by easing administration, dosing, and providing faster relief to improve compliance."
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ALTG | Hot Stocks07:09 EDT Alta Equipment Group to but Evercore in in highly accretive' deal - Alta Equipment Group announced that it has entered into a definitive agreement to acquire Ecoverse Industries, , a full line distributor of industry-leading environmental processing equipment headquartered in Avon, Ohio, with 15 sub dealers throughout North America. "The acquisition of Ecoverse is exciting for our business as it represents our first investment into large-scale equipment distribution, giving us the master dealer rights to distribute best-in-class environmental equipment to dealers and customers throughout North America," said Ryan Greenawalt, Chief Executive Officer of Alta. "Ecoverse has a long standing track record in the environmental processing equipment sector as a distributor of high-end equipment which is used in biofuel, composting, and various waste and recycling applications. The Ecoverse acquisition immediately positions Alta as an industry leader in a sector where demand for eco-friendly waste solutions and recycling continues to grow. We welcome Ecoverse to the Alta family." The purchase price includes $42.5M in cash, $2.M of Alta common stock and a $6M million seller note, at close. In addition, the purchase price includes contingent consideration in the form of an earn-out whereby sellers can earn an additional $4M of Alta common stock and $1M of cash over a five-year period subject to future EBITA growth. To the extent EBITA remains flat at July 2022 trailing twelve-month levels throughout the earn-out period, the total purchase price will be $59M. Other iterations of the ultimate purchase price range from $51M to $67M based on future EBITA performance. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2022. Including Ecoverse, since the Company's initial public offering in 2020, Alta has completed 13 acquisitions which have contributed $440.3 million in revenue, and $52.5 million in Adjusted EBITDA.
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ALTG | Hot Stocks07:08 EDT Alta Equipment Group to but Evercore in in highly accretive' deal - Alta Equipment Group announced that it has entered into a definitive agreement to acquire Ecoverse Industries, , a full line distributor of industry-leading environmental processing equipment headquartered in Avon, Ohio, with 15 sub dealers throughout North America. "The acquisition of Ecoverse is exciting for our business as it represents our first investment into large-scale equipment distribution, giving us the master dealer rights to distribute best-in-class environmental equipment to dealers and customers throughout North America," said Ryan Greenawalt, Chief Executive Officer of Alta. "Ecoverse has a long standing track record in the environmental processing equipment sector as a distributor of high-end equipment which is used in biofuel, composting, and various waste and recycling applications. The Ecoverse acquisition immediately positions Alta as an industry leader in a sector where demand for eco-friendly waste solutions and recycling continues to grow. We welcome Ecoverse to the Alta family." The purchase price includes $42.5M in cash, $2.M of Alta common stock and a $6M million seller note, at close. In addition, the purchase price includes contingent consideration in the form of an earn-out whereby sellers can earn an additional $4M of Alta common stock and $1M of cash over a five-year period subject to future EBITA growth. To the extent EBITA remains flat at July 2022 trailing twelve-month levels throughout the earn-out period, the total purchase price will be $59M. Other iterations of the ultimate purchase price range from $51M to $67M based on future EBITA performance. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2022. Including Ecoverse, since the Company's initial public offering in 2020, Alta has completed 13 acquisitions which have contributed $440.3 million in revenue, and $52.5 million in Adjusted EBITDA.
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RDHL | Hot Stocks07:08 EDT RedHill Biopharma receives minimum price deficiency notice from Nasdaq - RedHill Biopharma received a letter from Nasdaq indicating that, for the last thirty consecutive business days, the bid price for the company's ADSs had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Global Market. The letter has no immediate effect on the listing or trading of the company's ADSs. The company has been provided an initial period of 180 calendar days, or until April 10, 2023, to regain compliance. If the Company does not regain compliance by April 10, 2023, the company may be eligible for an additional 180 calendar day period to regain compliance.
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STKL | Hot Stocks07:08 EDT Pacific Avenue acquires Sunrich Products from SunOpta, terms not disclosed - Pacific Avenue Capital Partners has acquired Sunrich Products, the sunflower and roasted snack division of SunOpta. The transaction includes three processing facilities in the upper Midwest, hybrid seed development activities, a collaborative program with independent sunflower growers, and relationships with an extensive set of customers in the food ingredients, snack food, and birdseed markets. Kent Johnson, general manager of Sunrich, will become CEO. Kent will be joined by the rest of Sunrich's leadership team and employee base, ensuring quality products and reliable customer service.
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DRREF | Hot Stocks07:07 EDT OTC Markets Group welcomes Dream Residential REIT to OTCQX - OTC Markets Group announced Dream Residential Real Estate Investment Trust, a newly created, unincorporated, open-ended real estate investment trust with an investment portfolio comprising 16 garden-style properties located in three attractive markets across the Sunbelt and Midwest regions in the United States, has qualified to trade on the OTCQX Best Market. Dream Residential Real Estate Investment Trust upgraded to OTCQX from the Pink market.
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CONN | Hot Stocks07:06 EDT Conn's announces CEO Holt stepped down from position, Miller named interim CEO - Conn's announced that President and Chief Executive Officer Chandra Holt has stepped down from her position and from the Company's Board effective immediately. Effective immediately, Norman Miller will serve as Interim President and Chief Executive Officer. Miller was the Company's former President and Chief Executive Officer from September 2015 to August 2021 and Executive Chairman from August 2021 until April 2022, and has been a member of the Board of Directors since September 2015.
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LAD | Hot Stocks07:05 EDT Lithia & Driveway appoints Gary Glandon as Chief People Officer - Lithia & Driveway has named Gary Glandon Senior Vice President and Chief People Officer. Glandon was most recently President and CEO of Glandon Partners, an international HR consulting and Executive Coaching practice. Prior to establishing his own company, Gary was SVP and CHRO of Rogers Corporation.
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MREO | Hot Stocks07:05 EDT Mereo BioPharma targets 40% reduction in headcount, expense reductions - Mereo BioPharma Group provided an update to its operating plan and programs. With this go-forward operating plan, Mereo will maintain the ability to progress its core programs, deliver on multiple near-term milestones and maximize value for shareholders. The updated plan extends the Company's cash runway into 2026. The Company will retain the core capabilities and key personnel needed to advance its two core rare disease programs and to generate value from its assets. With a targeted reduction in the employee base of up to 40% and a significant reduction in other costs, the Company will operate at what it believes to be the minimum level of resources currently required to continue executing on its strategy whilst remaining publicly listed. As of June 30, 2022, the Company had approximately GBP 76 million in cash on hand. As a result of these actions, the Company's cash runway has been further extended into 2026 from its previous guidance of into Q2 2025. Additionally, Mereo provided updates on its lead programs: Setrusumab - Setrusumab is currently being studied in an ongoing Phase 2/3 registrational trial in patients aged 5-25 with Osteogenesis Imperfecta being conducted by its partner, Ultragenyx. A protocol amendment for the Phase 2 part of the study removes the placebo arm and continues evaluating the same two dose levels of setrusumab as in the original protocol. This amendment has been submitted to the U.S. Food and Drug Administration and is now subject to approval by the site-specific Institutional Review Boards. Ultragenyx currently expects to complete enrollment in this portion of the study in the next few months, and to transition to the Phase 3 portion in the first half of 2023. Further, Ultragenyx plans to initiate a pediatric study in patients with OI aged 2 to less than5 years, also in the first half of 2023. This program is, and will remain, the main focus of Mereo's capital resources. Alvelestat - An R&D Update on the alvelestat program for alpha-1-anti-trypsin deficiency has been scheduled for 8:00 am ET on October 31, 2022. This update will include commentary from and Q&A with leading pulmonology experts, further to the receipt of Fast Track Designation from the FDA announced yesterday.Etigilimab - In the ongoing Phase 1b/2 study in combination with nivolumab, the Company reported that 16 patients remain on study and responding to therapy. As previously announced, the study continues to be wound down as patients' disease progresses, requiring less of the Company's resources, and will terminate once all patients have disease progression or have left the study. "Our revised operating plan seeks to retain key personnel and conserve shareholder capital as we work to maximize the value of our promising rare disease programs for our shareholders, who share our conviction in these assets and their potential to create positive outcomes for patients and their families," said Dr. Denise Scots-Knight, CEO. "With the changes Ultragenyx has made to the setrusumab development plan, the recent Fast Track designation for alvelestat for AATD and important milestones for our two core programs approaching over the next year or so, we believe this revised plan successfully positions Mereo for the future. I would like to thank all the affected employees for their dedication to developing potential treatments for patients with rare diseases and cancer."
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AMYT | Hot Stocks07:03 EDT Amryt Pharma announces COMP adopted positive opinion on ODD for mycapssa - Amryt announces that the European Medicines Agency's Committee for Orphan Medicinal Products, COMP, has adopted a positive opinion, recommending that the orphan disease designation, ODD, of Mycapssa in the treatment of acromegaly in the European Union is maintained. This follows the Committee for Medicinal Products for Human Use positive opinion granted on September 16, 2022, recommending the approval of Mycapssa in the EU for the maintenance treatment of acromegaly in patients who have responded to and tolerated treatment with octreotide or lanreotide.The positive opinion of the COMP was based on the conclusion of significant benefit of Mycapssa over available treatments for acromegaly and qualifies Mycapssa for a period of 10 years' market exclusivity in the EU for this indication. Dr Joe Wiley, CEO of Amryt Pharma, commented: "The COMP recommendation to maintain the orphan disease designation for Mycapssa confirms the significant benefit of Mycapssa over the currently available injectable forms of somatostatin analogues, which represents a significant development for acromegaly sufferers in Europe."
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GM | Hot Stocks07:03 EDT MycoWorks secures strategic investment from GM Ventures - MycoWorks announced its newest investor GM Ventures, the investment arm of General Motors, and their long-term agreement to co-develop Fine Mycelium materials for potential use in a range of applications within automotive design. MycoWorks' collaboration with GM marks the exploration of its entry into one of the largest end-use markets for leather and demonstrates the significant opportunity to create more sustainable materials for the automotive space.
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SYBX | Hot Stocks07:02 EDT Synlogic announces positive Phase 2 results for phenylketonuria candidate - Synlogic announced positive top-line data from the Phase 2 Synpheny-1 study in phenylketonuria or PKU. Based on the results, SYNB1934 will be the drug candidate progressing to the Phase 3 registrational study expected to begin in H1 2023. Of the 20 patients with PKU; 11 were enrolled in the SYNB1618 arm and 9 patients were enrolled in the SYNB1934 arm. Both strains demonstrated clinically meaningful reductions in fasting plasma Phe. Results were consistent and positive across all measured indicators of activity for both drug candidates, with numerically greater changes observed for SYNB1934, consistent with previously shared results. Results from patients who were already taking sapropterin at baseline were consistent with the overall efficacy profile, demonstrating the potential for adjunctive use. All adverse events were mild or moderate in severity.
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TIL | Hot Stocks07:02 EDT Instil Bio announces first patient dosed with ITIL-306 - Instil Bio announced that the first patient has been dosed in a Phase 1 dose escalation study of ITIL-306 for the treatment of multiple solid tumors. ITIL-306 is Instil's first genetically-engineered Costimulatory Antigen Receptor-TIL therapy. "The successful initiation of the Phase 1 study of ITIL-306 underscores our commitment to evolving TIL therapy, using strategies to enhance product efficacy and safety, with the goal to achieve durable remissions in patients with treatment-refractory solid tumors," said Bronson Crouch, Chief Executive Officer of Instil Bio. Instil's first-in-human Phase 1 study of ITIL-306 is an open-label, multicenter study in patients with non-small cell lung cancer, ovarian cancer, and renal cell carcinoma. Patients in the first dose cohort will receive a target dose of one billion CoStAR-transduced TILs after receiving a reduced intensity lymphodepletion regimen and no post-infusion interleukin-2. The study will evaluate safety of ITIL-306 in addition to efficacy and translational endpoints. The company anticipates reporting initial clinical data from the Phase 1 trial in 2023.
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BDX | Hot Stocks07:00 EDT Becton Dickinson, Magnolia announce co-exclusive commercial agreement - Becton Dickinson and Magnolia Medical Technologies announced a co-exclusive commercial agreement aimed at helping U.S. hospitals reduce blood culture contamination to help improve testing accuracy and ultimately improve clinical outcomes. Under the agreement, BD and Magnolia Medical will both co-sell and co-market Magnolia Medical's Steripath and Steripath Micro Initial Specimen Diversion Device platforms, complementing the BD specimen collection portfolio, including BD Vacutainer push button and BD Vacutainer UltraTouch blood collection sets. Steripath is the only FDA 510(k)-cleared device platform specifically indicated to reduce blood culture contamination for sepsis testing accuracy. The Steripath Initial Specimen Diversion Devices divert and sequester the initial 1.5 to 2 mL of potentially contaminated blood from the sample and then collect blood for blood cultures.
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PZN | Hot Stocks06:58 EDT Pzena Investment's going-private transaction recommended by Glass Lewis - Pzena Investment announced that independent proxy advisory firm Glass Lewis has recommended that stockholders vote "for" the adoption of the merger agreement pursuant to which Pzena will become a private company. ISS has also recommended voting in support of the transaction. The special meeting of stockholders to vote on the transaction will take place virtually on October 27. In its report, Glass Lewis noted: "... the implied premiums relative to historical trading levels indicate an attractive purchase price...the special committee's determination that it would be unlikely for a superior offer to emerge from a potential third party is reasonable, given that the transaction involves the acquisition of only a minority stake in a controlled company... now may be an appropriate time for the company's unaffiliated public shareholders to realize a certain value and full liquidity at a price that appears to be reasonable from a long-term fundamental value perspective." The transaction is expected to close in Q4, subject to approval by PZN stockholders, including a special approval of holders of a majority of the Class A shares not held by persons who will remain as investors in PIM following the closing.
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ASM | Hot Stocks06:57 EDT Avino Silver & Gold Mines reports Q3 production 778,008 silver equivalent ounces - Avino Silver & Gold Mines reported its record third quarter production results from the Avino Mine property near Durango, Mexico. Silver equivalent production increased 20% to 778,008 oz. Silver production increased by 27% to 285,444 ounces. Copper production increased by 28% to 2.1M pounds. Gold production decreased by 11% to 1,201 ounces. Mill throughput increased by 37% to 162,169 tons.
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LLY AKUS | Hot Stocks06:55 EDT Eli Lilly to acquire Akouos for $12.50 per share, one CVR up to $3.00 per share - Eli Lilly (LLY) and Akouos (AKUS) announced a definitive agreement for Lilly to acquire Akouos, a precision genetic medicine company that is developing a portfolio of adeno-associated viral gene therapies for the treatment of inner ear conditions, including sensorineural hearing loss. Under the terms of the transaction, Lilly will acquire all of the outstanding shares of Akouos for $12.50 per share in cash, plus one contingent value right, or CVR, of up to $3.00 per share. The deal has been approved by the boards of directors of both companies. Lilly will commence a tender offer to acquire all outstanding shares of Akouos for a purchase price of $12.50 per share in cash payable at closing plus one non-tradeable contingent value right per share, or CVR, that entitles the holder to receive up to an additional $3.00 in cash, for a total consideration of up to $15.50 per share in cash without interest . CVR holders would become entitled to receive contingent payments as follows: $1.00 in cash, upon the fifth participant being administered with AK-OTOF in a Phase 1 or Phase 1/2 trial on or prior to Dec. 31, 2024; $1.00 in cash, upon the fifth participant being administered with an Akouos gene therapy product for a second monogenic form of sensorineural hearing loss on or prior to December 31, 2026; and $1.00 in cash, upon the first participant being administered with an Akouos gene therapy product for a monogenic form of sensorineural hearing loss in a Phase 3 trial, or receipt of FDA approval in the U.S. for such Akouos product, whichever occurs first, on or prior to December 31, 2026, or its value will be reduced by approximately 4.2 cents per month until December 1, 2028. There can be no assurance that any payments will be made with respect to the CVR. The transaction is not subject to any financing condition and is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including receipt of required antitrust clearance and the tender of a majority of the outstanding shares of Akouos's common stock. Following the successful closing of the tender offer, Lilly will acquire any shares of Akouos that are not tendered in the tender offer through a second-step merger at the same consideration as paid in the tender offer. The purchase price payable at closing represents a premium of approximately 121% to the 30-day volume-weighted average trading price of Akouos's common stock ended on Oct. 17, 2022, the last trading day before the announcement of the transaction. Akouos's board unanimously recommends that Akouos's stockholders tender their shares in the tender offer. Additionally, certain Akouos stockholders, beneficially owning approximately 26% of Akouos's outstanding common stock, have agreed to tender their shares in the tender offer. Lilly will determine the accounting treatment of this transaction as a business combination or an asset acquisition, including any related acquired in-process research and development charges, according to Generally Accepted Accounting Principles, or GAAP, upon closing, which is expected to occur in the fourth quarter of 2022. This transaction will thereafter be reflected in Lilly's financial results and financial guidance.
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SMTS | Hot Stocks06:54 EDT Sierra Metals forms special committee to evaluate strategic alternatives - Sierra Metals announced that a special committee comprised of its independent directors has initiated a process to evaluate and consider the company's current financial and liquidity position, operational challenges and possible financing and restructuring alternatives that may be available to the company. The company faces liquidity challenges as a result of the recent suspension of operations at the Yauricocha Mine and operating losses and negative cash flows that have accumulated, primarily from the Bolivar and Cusi operations. While mining operations have re-commenced at areas of the Yauricocha Mine, a majority of the operation remains suspended at this time. A precise timeline for achieving full plant throughput has not yet been established. Absent additional support and increased funding, the company's ability to continue operations in the ordinary course may be impacted. The Special Committee includes all non-management members of the board of directors of the company. Financial and legal advisors with particular expertise in turnaround and restructuring matters have been engaged to advise on this process. It is the company's current intention to not disclose developments with respect to the Special Committee process unless and until the board determines that disclosure is necessary. The company has not set a definitive schedule to complete the evaluation.
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NBY | Hot Stocks06:53 EDT NovaBay announces significant orders for DERMAdoctor Kakadu C - NovaBay Pharmaceuticals announces significant orders for DERMAdoctor Kakadu C 20% Vitamin C Serum with Ferulic Acid & Vitamin E. "We are excited to share that one of our best-selling products, DERMAdoctor Kakadu C serum, continues its popularity this year with several large orders just in time for the holiday season," said Justin Hall, NovaBay CEO. "These orders will favorably impact DERMAdoctor's revenue contribution for the 2022 third and fourth quarters."
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VLDR | Hot Stocks06:48 EDT Velodyne Lidar signs new multi-year agreement with Visimind - Velodyne Lidar announced a new multi-year agreement with Swedish company Visimind Group to provide customers in the EMEIA region with integrated solutions, including mapping and vegetation management, powered by Velodyne's lidar technology. This agreement further strengthens the long-standing partnership between Visimind and Velodyne Lidar, including a 3-year supply agreement for Puck and Ultra Puck lidar sensors. Shipping has already begun.
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MRK | Hot Stocks06:48 EDT Merck and Bill & Melinda Gates MRI enter licensing agreement for tuberculosis - Merck and the Bill & Melinda Gates Medical Research Institute or MRI announced a licensing agreement for two preclinical antibacterial candidates for evaluation as potential components of combination regimens for the treatment of tuberculosis. These candidates were discovered by Merck scientists as part of the TB Drug Accelerator. The TBDA is a collaboration established among biopharmaceutical companies, research organizations and universities to accelerate the discovery and development of novel therapeutic candidates against TB. The initiative was established with support and leadership from the Bill & Melinda Gates Foundation. Merck has granted the Gates MRI an exclusive global license for MK-7762 and MK-3854. In furtherance of its charitable purpose, Gates MRI will conduct non-clinical and clinical studies of these candidates to determine their potential for inclusion in new affordable combination treatment regimens for TB with the aim of shortening the duration of treatment irrespective of resistance to the currently available TB drugs. In vitro and in vivo evaluation of MK-7762 and MK-3854 have shown that both candidates have potent antibacterial activity against Mycobacterium tuberculosis, the organism that causes tuberculosis.
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SLI | Hot Stocks06:45 EDT Standard Lithium appoints PricewaterhouseCoopers as auditor - Standard Lithium has appointed PricewaterhouseCoopers - PWC - as its new independent registered public accounting firm. PWC succeeds Manning Elliott, which previously was the independent registered accounting firm providing audit services to the company.
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GMAB JNJ | Hot Stocks06:37 EDT Genmab reports Q3 worldwide net sales of DARZALEX $2.05B - Genmab (GMAB) announced that worldwide net trade sales of DARZALEX, including sales of the subcutaneous ( product, as reported by Johnson & Johnson (JNJ) were $2.052B in the third quarter. Net trade sales were $1.097B in the U.S. and USD 955 million in the rest of the world. Genmab receives royalties on the worldwide net sales of DARZALEX, both the intravenous and SC products, under the exclusive worldwide license to Janssen to develop, manufacture and commercialize daratumumab.
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VRAY | Hot Stocks06:34 EDT ViewRay launches LAP-ABLATE study - ViewRay announced the launch of a phase III randomized controlled trial titled "Locally Advanced Pancreatic cancer treated with ABLAtivE stereotactic MRI-guided adaptive radiation therapy" - also known as LAP-ABLATE. LAP-ABLATE will compare stand-alone multi-agent chemotherapy, which is the current standard of care for patients with locally advanced pancreatic cancer, to patients receiving a combination of chemotherapy and 5-fraction MRIdian SMART. The study is designed to demonstrate superior overall survival in patients receiving post-chemotherapy MRIdian SMART. The anticipated enrollment target is 267 patients.
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COHR | Hot Stocks06:09 EDT Coherent appoints Julie Sheridan Eng as Chief Technology Officer - Coherent appointed Julie Sheridan Eng, previously Senior VP and General Manager of Optoelectronic Devices and Modules, as Chief Technology Officer. Prior to being named CTO, Eng successfully ran the Optoelectronic Devices and Modules Business Unit. Previous to Coherent, Eng held a number of senior management positions at Finisar Corporation since 2003, including Executive Vice President and General Manager of 3D Sensing and Executive Vice President of Datacom Engineering.
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BBLN | Hot Stocks06:08 EDT Babylon Holdings receives $80M in subscriptions for private placement financing - Babylon announced that it has received its Board of Directors' authorized maximum of $80M in total subscriptions from institutional and other accredited investors for its previously announced private investment in public equity at a price of $0.42122 per Class A ordinary share. The price per share for the Subscriptions is equal to the average closing price of Babylon's Class A ordinary shares on the New York Stock Exchange for the five trading days immediately prior to the execution of the subscription agreements for the Subscriptions. The Subscriptions collectively provide for Babylon's sale of 189,924,505 Class A ordinary shares to the PIPE investors.
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AFIB | Hot Stocks06:07 EDT Acutus Medical submits premarket approval application for AcQBlate - Acutus Medical submitted pivotal clinical data from the AcQForce Flutter trial designed to gain marketing approval from the FDA for the AcQBlate Force Sensing Ablation Catheter and System or AcQBlate FORCE. Catheter ablation procedures to treat right atrial flutter account for approximately 30% of ablations in the US and are expected to reach 200,000 by 2025. The AcQForce Flutter trial enrolled 110 patients and was designed to evaluate the safety and efficacy of the AcQBlate FORCE sensing ablation catheter and system in the treatment of right atrial typical flutter. Primary endpoints were acute procedural success defined as bidirectional CTI block, and freedom from serious adverse events seven days post procedure. The primary efficacy endpoint was achieved, and the study observed no serious adverse events.
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LAZ | Hot Stocks06:07 EDT Lazard secures new U.K. headquarters in Manchester Square - Lazard announced that the firm has secured a new U.K. headquarters at 20 Manchester Square, London. The seven-story building will house both the Financial Advisory and Asset Management businesses. The firm has signed a 15-year lease for the property with Invesco Real Estate beginning mid-2024 and expects to take occupancy by early 2025, following a program of renovations. Lazard is committed to net zero carbon in construction of the new premises, in accordance with the U.K. Green Building Council framework. 20 Manchester Square extends over 78,500 sq. feet and benefits from close proximity to the Wallace Collection, Marylebone village, Regent's Park and Bond Street underground and Elizabeth line stations.
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APCX | Hot Stocks06:05 EDT AppTech Payments announces partnership with Chip Financial - AppTech Payments announced its partnership with Chip Financial to support the company's growing Fintech, digital banking and payments ecosystem. The partnership enhances Chip Financial's suite of solutions that focus on a tailored customer approach to provide capabilities in Payments-as-a-Service and Banking-as-a-Service. Chip Financial provides a variety of clients with flexible omni-channel transactions across a full spectrum of brand sectors. The partnership between AppTech and Chip Financial enables further market reach and penetration to extend AppTech's portfolio of commerce solutions.
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RHHBY | Hot Stocks06:05 EDT Roche sees FY22 sales stable or up in low single digits - Roche expects stable sales or sales growth in the low-single-digit range at constant exchange rates. Core earnings per share are targeted to grow in the low- to mid-single-digit range at constant exchange rates. Roche expects to increase its dividend in Swiss francs further.
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RHHBY | Hot Stocks06:05 EDT Roche confirms outlook for 2022
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TXT | Hot Stocks06:04 EDT Textron Aviation enters purchase agreement with Exclusive Jets - Textron Aviation announced it has entered into a purchase agreement with Exclusive Jets, LLC, operating as flyExclusive, for up to 14 additional Cessna Citation business jets. flyExclusive has agreed to purchase eight Cessna Citation XLS Gen2 aircraft to be delivered in 2024, and up to six Citation Longitudes, with initial deliveries of the first two Longitude aircraft expected in 2025. These aircraft will provide customers of flyExclusive's fractional program additional options in the midsize and super-midsize segments. In addition, the company has exercised its option to purchase an additional five Citation CJ3+ aircraft from its order of up to 30 CJ3+ jets earlier this year. These aircraft are expected to be delivered in 2024. Cessna Citation business jets are designed and manufactured by Textron Aviation, a Textron company.
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ILMN | Hot Stocks06:04 EDT Illumina enters partnership with GenoScreen in effort to end tuberculosis - Illumina and GenoScreen announced a partnership to accelerate progress to end tuberculosis, or TB, worldwide. The partnership will expand capabilities for countries most impacted by tuberculosis to more effectively detect and combat multidrug-resistant TB, or MDR-TB. This alliance will enable global access to a package combining Illumina sequencing products and the GenoScreen Deeplex Myc-TB assay, a targeted next-generation sequencing, or NGS, based test for rapid and extensive detection of anti-TB drug resistance, to promptly inform treatment decision. This will help advance the World Health Organization's, or WHO, strategy to end the global TB epidemic by 2035.
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IDYA AMGN | Hot Stocks06:03 EDT Ideaya Biosciences provides update on IDE397 clinical program - Ideaya Biosciences (IDYA) announced clinical program updates for IDE397, an investigational small molecule MAT2A inhibitor being evaluated in an ongoing Phase 1/2 clinical trial. IDE397 is a potent and selective small molecule inhibitor targeting methionine adenosyltransferase 2a, or MAT2A, in patients having solid tumors with methylthioadenosine phosphorylase, or MTAP, deletion. The MTAP deletion patient population is estimated to represent approximately 15% of solid tumors, including approximately 15% of NSCLC, 28% of esophageal, 26% of bladder, and 10% of esophagogastric cancers. The company has initiated and is actively enrolling patients into monotherapy expansion cohorts, with a focus on squamous cell NSCLC and esophagogastric cancer, consistent with preclinical efficacy and translational data. Ideaya is also evaluating IDE397 in multiple combination cohorts. The combinations include pemetrexed and taxanes, which are standard-of-care agents utilized as early-line therapies in NSCLC, mesothelioma and other solid tumor indications. The combination of IDE397 with pemetrexed is a novel and potential first-in-class combination of a MAT2A inhibitor with an antifolate agent. The combination of IDE397 with AMG 193 is a novel and potential first-in-class synthetic lethality combination which targets two distinct and mechanistically complementary nodes of the MTAP methylation pathway - MAT2A and PRMT5, providing a complementary approach for targeting MTAP-deletion tumors. Ideaya and Amgen (AMGN) plan to clinically evaluate IDE397 in combination with AMG 193, an investigational MTA-Cooperative PRMT5 inhibitor, in patients having MTAP-deletion tumors, pursuant to a Clinical Trial Collaboration and Supply Agreement. Ideaya's clinical development plan includes an emphasis on combination strategies based on observed in vivo efficacy in preclinical studies evaluating IDE397 combinations in relevant MTAP-null xenograft models. The preclinical in vivo efficacy data showed tumor regressions for IDE397 in combination with pemetrexed, durable complete responses for IDE397 in combination with MTA-cooperative PRMT5 inhibitors, and enhanced tumor-growth inhibition for IDE397 in combination with taxanes. Based on these preclinical studies, IDEAYA believes that IDE397 combination therapies could potentially enhance clinical efficacy in patients having tumors with MTAP deletion.
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HTGC | Hot Stocks06:02 EDT Hercules Capital raises quarterly cash distribution to 36c per share - The following shows the key dates of the third quarter distribution payment: Record date of November 10; Payment date of November 17.
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STC | Hot Stocks05:50 EDT Stewart extends CEO Frederick Eppinger employment agreement for three more years - Stewart announced its Board of Directors has agreed with Frederick Eppinger, CEO, to extend the terms of his employment agreement for another three years.
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AMZN | Hot Stocks05:35 EDT Amazon Web Services to open infrastructure region in Thailand - Amazon Web Services, or AWS, an Amazon company, announced plans to open an infrastructure region in Thailand. The new AWS Asia Pacific Region will consist of three availability zones, adding to the existing 87 availability zones across 27 geographic regions. Globally, AWS has now announced plans for 24 more availability zones across eight more AWS Regions in Australia, Canada, India, Israel, New Zealand, Spain, Switzerland, and Thailand. The upcoming AWS Region in Thailand will enable developers, startups, and enterprises, as well as government, education, and nonprofit organizations, to run their applications and serve end users from AWS data centers located in Thailand, ensuring that customers who want to keep their data in Thailand can do so. In addition, as part of its commitment to the region, AWS plans an estimated investment of more than $5B in Thailand over 15 years.
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JOBY | Hot Stocks05:29 EDT Joby Aviation applies for aircraft design certification for use in Japan - Joby Aviation confirmed it has formally applied for its aircraft design to be certified for use in Japan. The news comes as Japanese and U.S. regulatory authorities confirmed earlier that they have reached an agreement to deliver a streamlined approval process for U.S. applicants who wish to validate their eVTOL aircraft designs in Japan. Joby's application to the Japan Civil Aviation Bureau, or JCAB, for the validation of an FAA "type certification", is believed to be the first of its type and is a necessary step to launching aerial ridesharing services in Japan. Joby plans to use its five-seat, piloted eVTOL aircraft to connect people and cities through fast, quiet, and emissions-free flight.
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BDX | Hot Stocks05:27 EDT Becton Dickinson, Biocorp enter self-administered drug therapies tracking pact - Becton Dickinson and Biocorp announced that they have signed an agreement with the aim of using connected technology to track adherence for self-administered drug therapies, like biologics. The two companies will integrate Biocorp's Injay technology - a solution designed to capture and transmit injection events using Near Field Communication, or NFC, technology to the BD UltraSafe Plus Passive Needle Guard used with prefillable syringes.
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MAN CSCO | Hot Stocks05:25 EDT ManpowerGroup, Cisco partner to train and employ IT workforce - Experis, part of ManpowerGroup (MAN), and Cisco (CSCO) will work together to train, re-, and upskill people around the world with in-demand IT skills and help them use those new skills to secure employment. The collaboration between Experis and the Cisco Networking Academy, which is currently live in the United States and Mexico with plans to expand to additional markets in future phases, will focus on learning paths where the demand for skilled workers is far outpacing supply including: IT Pathways, Cybersecurity, Networking, Programming and Data, and aims to place more than 1,000 people in new IT roles in the first year. Once learners complete one or more courses, they log in to the Experis MITEY Matcher, an AI job platform that enables them to create a profile and explore and apply for open IT jobs. By sharing their skills, they create a "skills fingerprint" that can be used to visualize fit for open roles while enabling talent gents with learner insights.
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DQ | Hot Stocks05:20 EDT Daqo New Energy subsidiaries sign five-year polysilicon supply agreement - Daqo New Energy announced that its subsidiaries XinjiangDaqo and Inner Mongolia Daqo had signed a five-year high-purity polysilicon supply agreement with a solar manufacturing company in China. Under the supply agreement, Xinjiang Daqo and Inner Mongolia Daqo will provide this leading manufacturing company with a total amount of 46,200 MT high-purity mono-grade polysilicon from January 1, 2023 to December 31, 2027. Actual prices will be negotiated by both parties monthly according to market conditions.
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AVEO | Hot Stocks05:16 EDT Aveo Pharmaceuticals to be acquired by LG Chem for $15.00 per share in cash - LG Chem and AVEO Oncology announced that they have entered into a definitive agreement under which LG Chem will acquire Aveo for $15.00 per share in an all-cash transaction with an implied equity value of $566M on a fully diluted basis. Bringing together Aveo and LG Chem is expected to extend LG Chem Life Sciences' commercial footprint to the U.S., diversify its pipeline with a broad range of oncology therapies and accelerate LG Chem's efforts to deliver continued growth through the development and commercialization of cancer therapies. Upon completion of the transaction, Aveo will establish and operate as the U.S. commercial foundation for LG Chem Life Sciences' oncology segment. The transaction price represents a 43% premium to Aveo's closing share price on October 17, as well as a 71% premium to its 30 trading day volume-weighted average price. The transaction, which was unanimously approved by both companies' boards, is expected to close in early 2023, subject to customary closing conditions, including approval by Aveo shareholders and receipt of regulatory approvals. The transaction is not subject to any financing condition. LG Chem expects to finance the transaction with existing and available cash resources. Upon completion of the transaction, Aveo's shares will no longer trade on the Nasdaq. The combined company will be headquartered in Seoul, South Korea, and LG Chem also expects to maintain a significant presence in Boston and Cambridge, Massachusetts, the location of the LG Chem Life Sciences Innovation Center.
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GENI | Hot Stocks05:09 EDT Genius Sports enters official data, integrity partnership with APL - Genius Sports has been selected as the exclusive Official Data Partner of the Isuzu UTE A-League Men, or ALM, and Liberty A-League Women, or ALW, 2022-23 season as part of a wide-ranging new partnership with the Australian Professional Leagues, or APL. This partnership will help to protect Australian soccer from the threats of match-fixing and betting-related corruption through Genius Sports' 24/7 bet monitoring technology and bespoke educational services. Under the terms of the agreement, Genius Sports has been granted the exclusive rights to capture, manage and distribute official data from every A-Leagues match and distribute it to its global network of sportsbook partners. Genius Sports is the official data and integrity partner to sports including the NFL and English Premier League. The A-Leagues have also committed to deploying Genius Sports' optical tracking systems in select venues with more details to follow later in the season.
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