Stockwinners Market Radar for October 19, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
QUIK MRAM | Hot Stocks20:07 EDT Everspin Technologies signs contract with QuickLogic to provide MRAM IP - Everspin Technologies (MRAM) has signed a contract to provide MRAM technology, design, and back end of line manufacturing services with QuickLogic (QUIK). The initial award is potentially valued at $2.8M, with subsequent options bringing the total to approximately $8.7M. This is part of an award to develop and demonstrate Strategic Radiation Hardened, high reliability Field Programmable Gate Array technology to support identified and future Department of Defense strategic and space system requirements. This project is sponsored by DoD's Trusted and Assured Microelectronics Program.
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NRIX | Hot Stocks20:04 EDT Cathie Wood's ARK Investment bought 46.2K shares of Nurix Therapeutics today
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ALRM | Hot Stocks19:53 EDT Alarm.com acquires Noonlight, terms not stated - Alarm.com "announced it completed a majority-stake acquisition of Noonlight, a next-generation connected safety and event management platform that enables new applications and provides enhanced emergency response capabilities. Noonlight will continue to operate independently as a next generation IoT device monitoring provider, as well as a consumer safety app and brand that millions of users trust. Noonlight's current management team will continue to lead the business from its headquarters in St. Louis, Mo."
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BCC | Hot Stocks18:58 EDT Boise Cascade expands Albuquerque distribution center - Boise Cascade's Building Materials Distribution division announced the acquisition of 4.67 acres of land adjacent to its Albuquerque, New Mexico branch. The land purchase agreement was signed Monday, October 17, 2022. The existing operating facility consists of 13 acres with 78,000 sq. ft. of covered storage. This BMD location services the New Mexico, West Texas, and Juarez markets. "The expansion will increase our diversification of customer segments in those areas as well as our ability to expand current product offerings in engineered wood products (EWP), Trex composite decking, and various other commodities," said Arik Zonski, Albuquerque branch manager. "The additional acreage will help us grow our business as well as provide some operational efficiencies."
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MO PM | Hot Stocks18:47 EDT Philip Morris acquires U.S. commercialization rights to IQOS from Altria - Altria Group (MO) announced that a subsidiary has entered into an agreement with a subsidiary of Philip Morris International Inc. (PM) under which Altria will receive cash payments from PMI totaling approximately $2.7B in exchange for assigning exclusive U.S. commercialization rights to the IQOS Tobacco Heating System effective April 30, 2024. "We remain committed to creating long-term value through our Vision," said Billy Gifford, Altria's Chief Executive Officer. "We believe that this agreement provides us with fair compensation and greater flexibility to allocate resources toward Moving Beyond Smoking." "We received a payment from PMI of $1.0 billion upon entry into the Agreement," Altria said. "Under the terms of the Agreement, PMI is obligated to make an additional payment of $1.7 billion (plus interest) by July 2023 for a total cash payment of approximately $2.7 billion (pre-tax). We expect to use the cash proceeds for several items, which may include investments in pursuit of our Vision, debt repayment, share repurchases and general corporate purposes. Share repurchases depend on marketplace conditions and other factors and remain subject to the discretion of our Board of Directors. We expect to record the $2.7 billion pre-tax transaction amount as a deferred gain on our consolidated balance sheet in the fourth quarter of 2022. This gain will be recognized in earnings when we assign our rights to the IQOS system."
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INCY | Hot Stocks18:21 EDT Incyte's ruxolitinib cream shows repigmentation efficacy in Phase 3 trial - Incyte announced data from the pivotal Phase 3 TRuE-V clinical trial program evaluating ruxolitinib cream - Opzelura - 1.5% in patients 12 years of age and older with nonsegmental vitiligo have been published in The New England Journal of Medicine. Application of ruxolitinib cream resulted in significant facial and total body repigmentation versus vehicle-control as shown by greater proportions of patients reaching the facial and total body Vitiligo Area Scoring Index endpoints at Week 24 vs. vehicle, with a higher proportion of patients responding at Week 521. Results showed that approximately 30% of patients treated with ruxolitinib cream achieved greater than or equal to 75% improvement from baseline in F-VASI, the primary endpoint, while approximately 13% of patients applying vehicle in one study achieved the primary endpoint. In the vehicle-controlled period of the Phase 3 studies, the most common adverse reactions were application site acne, application site pruritus, nasopharyngitis, headache, urinary tract infection, application site erythema, and pyrexia. Vitiligo is a chronic autoimmune disease characterized by depigmentation of skin that results from the loss of pigment-producing cells known as melanocytes. In July, Opzelura cream was approved by the FDA for the topical treatment of nonsegmental vitiligo in adult and pediatric patients 12 years of age and older.
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TSLA | Hot Stocks17:52 EDT Tesla says on track for 50% annual growth production this year - CFO Zachary Kirkhorn says: "As we look ahead, our plans show that we're on track for the 50% annual growth in production this year, although we are tracking supply chain risks which are beyond our control. On the delivery side, we do expect to be just under 50% growth due to an increase in the cars in transit at the end of the year."
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TSLA | Hot Stocks17:51 EDT Tesla CFO says Q3 operating margin was 'one of our best yet' - CFO Zachary Kirkhorn says: "Operating margin is one of our best yet, with improvements in operating leverage. However, Austin and Berlin ramp costs weighed on our margins, particularly if you compare it to Q1. Removing regulatory credits and Austin and Berlin, our operating margins would have been our strongest yet and auto gross margin would have been nearly 30%. Note that while small and growing, each car we build in Austin and Berlin is contributing positively to profitability. We also continue to experience margin headwinds associated with macroeconomic conditions, as we've discussed at length on prior calls, In particular, raw materials, logistics and foreign exchange was a big part of this past quarter. On energy profitability, we achieved our strongest gross profit yet for this business, driven primarily by record volumes of our Megapack and Powerwall products. Our free cash flows were also a record despite an increase in cars in transit at the end of the quarter, which has a negative impact on working capital. Specifically on cars in transit, as noted in our press release on October 2, we've started to experience limits on outbound logistics capacity which we didn't anticipate. This issue is particularly present for ships from Shanghai to Europe and local trucking within certain parts of the U.S. and Europe. Our historical operating pattern of batch building by delivery region leads to extreme concentrations of outbound logistics needs in the final weeks of each quarter. Just to put this in perspective, roughly 2/3 of our Q3 deliveries occurred in September and 1/3 in the final 2 weeks. As a result, we have begun to smooth the regional builds throughout the quarter to reduce our peak needs for outbound logistics. We expect this to simplify our operations, reduce costs and improve the experience of our customers."
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TSLA | Hot Stocks17:41 EDT Tesla CEO says factories running at full speed, long-term trend 'extremely good' - Says intend to keep raising production in Fremont. Says it's likely we will do some "meaningful buyback", possible for Tesla to do buyback of $5B-$10B, pending board approval. Comments taken from Q3 earnings conference call.
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TSLA | Hot Stocks17:36 EDT Tesla CEO Musk says 'will have epic end of year', Q4 looking 'extremely good - Says as our factories ramp, we're looking forward to record-breaking Q4. Comments taken from Q3 earnings conference call.
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FDBC | Hot Stocks17:35 EDT Fidelity D & D Bancorp raises quarterly dividend 9% to 36c from 33c per share - Payable December 9 to shareholders of record at the close of business on November 18.
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IBM | Hot Stocks17:33 EDT IBM sees strong free cash flow performance in Q4 - Says currency translation will be a eight to nine point headwind in Q4. Says hybrid cloud and AI are two most transformational products of our time. Says wrapping up payments on Kendryl separation. Says debt balance is up since June. Says Q3 reflects continued adoption of AI operations, management and integration. Says currency translation will be a seven point headwind to growth for FY22. Says still expects to generate $10B of free cash flow for the year. Says software has been consistent all year. Comments taken from Q3 earnings conference call.
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ALL | Hot Stocks17:28 EDT Allstate drops 8% to $124.00 after Q3 guidance
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ALL | Hot Stocks17:25 EDT Allstate sees Q3 catastrophe losses $763M - Catastrophe losses for the third quarter, net of reinsurance, are estimated to be $763M, pre-tax. Estimated catastrophe losses, net of reinsurance, for the month of September were $440M, or $348M after-tax, with approximately 80% of losses related to Hurricane Ian. Estimated gross catastrophe losses due to Hurricane Ian, excluding National Flood Insurance Program losses, totaled $671M pre-tax, which will be reduced by $305M in anticipated reinsurance recoveries, for a net estimated loss of $366M.
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HPE | Hot Stocks17:20 EDT HP Enterprise sees revenue growth up 2%-4% over the long term - HPE "provided its long-term financial model for FY22 through FY25. The company expects its unique HPE GreenLake edge-to-cloud platform will drive robust growth. HPE projects revenue growth of 2% to 4% adjusted for currency, led by healthy growth in Aruba and High Performance Computing & AI, and a compounded annual growth rate for annualized revenue run-rate of 35% to 45%. Additionally, it expects greater than $6.5 billion of cumulative free cash flow between fiscal year 2022 and fiscal year 2024, powered by sustained revenue growth, rising operating profits, and underpinned by strategic investments."
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EML | Hot Stocks17:17 EDT Eastern Company confirms sale of Argo EMS business, terms not disclosed - The Eastern Company announced that it has sold its Argo EMS business. The company expects to use the proceeds from the transaction primarily to reduce debt and strengthen its balance sheet. The company also expects to record a gain on the sale of these assets in its fourth quarter of fiscal 2022. The terms of the transaction were not disclosed.
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CE | Hot Stocks17:11 EDT Celanese raises quarterly cash dividend to 70c from 68c per share - Payable on November 14 to stockholders of record as of October 31.
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PINS WMG | Hot Stocks17:07 EDT Pinterest in deal with Warner, Merlin and BMG to expand music library - Pinterest (PINS) blogged in part, earlier on Wednesday: "Pinterest announced new partnerships with Warner Music Group (WMG), Warner Chappell Music, Merlin, and BMG, to bring today's top artists and music on the platform. Through these new deals, users will now be able to add tracks from Ed Sheeran, Silk Sonic, Anitta, and many more to their Idea Pins. This partnership expands Pinterest's existing royalty-free music library to include licensed popular tracks powered by 7Digital, the leading B2B digital music solutions platform, which will enable the Pinterest community to access a global catalog of music. Additionally, Rumblefish is providing Pinterest with music metadata and license management services...In addition to the new catalog of music and artists, now available on iOS and Android, Pinterest also rolled out a new music user experience to make it even easier for Pinners and creators to find and add their favorite tracks to Idea Pins. This new experience will give users the ability to search for their desired track by song title, artist, or keyword. Reference Link
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ZKIN | Hot Stocks17:01 EDT ZK International receives Nasdaq notice regarding minimum bid requirements - ZK International Group announced that the company received a notice from the Nasdaq Stock Market LLC, dated Oct. 13, 2022, notifying the company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) because the bid price of the company's ordinary shares fail to maintain a minimum bid price of $1.00 per share for the last 30 consecutive business days from August 31, 2022 to October 12, 2022.
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FRHC | Hot Stocks17:00 EDT Freedom Holding to sell Russian business - Freedom Holding Corp. announced that it has entered into an agreement to sell its Russian subsidiary, Investment Company Freedom Finance LLC, together with Freedom RU's subsidiary FFIN Bank LLC. The transaction is subject to the approval of the Central Bank of the Russian Federation and is expected to close in the coming months. The Russian Subsidiaries are the Company's only subsidiaries in Russia. The Russian Subsidiaries are being acquired by Maxim Povalishin, who is currently the Deputy General Director and a member of the Board of Directors of Freedom RU. As consideration for the purchase of the Russian Subsidiaries, Mr. Povalishin will (1) pay cash in an amount of approximately $33M and (2) be assigned the Company's obligation to Freedom RU under an outstanding deferred payment in the amount of approximately RUB 6.6B which resulted from the purchase by the Company of Freedom RU's Kazakhstan subsidiary Freedom Finance JSC from Freedom RU as part of a corporate restructuring. Completion of the purchase of Freedom KZ is subject to regulatory approvals and is expected to occur prior to the closing of the sale of the Russian Subsidiaries. Mr. Povalishin has informed the Company that he will use his personal funds, including from sales of stock he was granted while an executive at Freedom RU, to finance the cash component of the purchase price. The parties expect that, following the completion of the sale of the Russian Subsidiaries, a number of existing clients of the Russian Subsidiaries will invest in the non-Russian international capital markets going forward through accounts at other subsidiaries of the Company, subject to appropriate on-boarding for compliance purposes.
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BSM | Hot Stocks16:46 EDT Black Stone Minerals raises dividend 7% to 45c per unit - Distributions will be payable on November 17, 2022 to unitholders of record on November 10, 2022.
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ISRG | Hot Stocks16:42 EDT Intuitive Surgical receives Royal College of Surgeons of England accreditation - Intuitive announced that it has become the largest provider of robotic-assisted surgical technology training to be accredited by the Royal College of Surgeons of England, or RCS England. The accreditation has been awarded to Intuitive across its entire global education portfolio.
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AA | Hot Stocks16:40 EDT Alcoa falls 8.3% to $34.50 afterhours following Q3 earnings miss
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IBM | Hot Stocks16:39 EDT IBM jumps 4.7% to $128.30 after Q3 earnings beat
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ROCC | Hot Stocks16:38 EDT Ranger Oil says volumes were approximately 42.6 Mboe/d - Ranger Oil sees Q3 total sales volumes ~42.6 thousand barrels of Oil equivalent per day, exceeding top end ff guidance range Of 40.9 - 42.5 thousand barrels of Oil equivalent per day. Realized oil prices were approximately $93.03 per barrel, a premium to the quarterly WTI benchmark, or $83.14 per barrel including effects of derivatives, net1. Drilling and completion capital expenditures were approximately $151.9M, which included approximately $3.4M of incremental capital due to D&C operations completed ahead of schedule. D&C capital in the quarter was in-line with the Company's guidance range of $135 - $160M. Ranger continues to find innovative ways to offset industry-wide inflationary pressures and ensure wells get turned to sales on time and on budget.
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BC | Hot Stocks16:36 EDT Brunswick opens new distribution center in Indiana - Mercury Marine, a division of Brunswick Corporation, opened its new, purpose-built distribution center to support its parts and accessories business. The new 512,000 square foot facility is strategically located near Indianapolis, Indiana. Mercury's current distribution facility at its global headquarters in Fond du Lac, Wisconsin, will be repurposed to support its award-winning propulsion systems, further allowing the company to increase capacity and production capabilities. The new Indiana facility will create close to 350 new jobs in its first year of operations while Mercury's current distribution center employees transition into new roles within the Fond du Lac campus.
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OCCI | Hot Stocks16:35 EDT OFS Credit estimates NAV per share of $9.94-$10.04 as of September 30, 2022 - OFS Credit Company announced the following net asset value estimate as of September 30, 2022. Management's unaudited estimate of the range of our NAV per share of our common stock as of September 30, 2022 is between $9.94 and $10.04. This estimate is not a comprehensive statement of the company's financial condition or results for the month ended September 30, 2022. This estimate did not undergo the company's typical quarter-end financial closing procedures.
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CRMT | Hot Stocks16:35 EDT America's Car-Mart says Holly Thomson joins as Chief Digital Officer - America's Car-Mar welcomes the addition of Holly Thomson as Chief Digital Officer. "Opportunities in the digital and data areas of our business are enormous and Holly Thomson will be a critically important leader for America's Car-Mart. Her broad and extensive Automotive Industry experience together with her strong team-oriented approach will allow us to maximize important growth initiatives," said Jeff Williams, Chief Executive Officer. "Holly will drive the completion and roll-out of our new Loan Origination System . The LOS will improve our customer experience by providing enhanced on-line pre-approvals for financing, allowing us to increase the funnel of potential customers to our dealerships. She will also be instrumental
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BMY | Hot Stocks16:34 EDT Bristol-Myers reports Opdivo data in resected stage IIB or IIC melanoma - Bristol Myers "announced results from the Phase 3 CheckMate -76K trial, in which Opdivo as an adjuvant therapy demonstrated a statistically significant and clinically meaningful benefit in recurrence-free survival versus placebo in patients with completely resected stage IIB or IIC melanoma. At a pre-specified interim analysis, the trial met its primary endpoint of recurrence-free survival; Opdivo reduced the risk of recurrence or death by 58% versus placebo. Twelve-month RFS rates for Opdivo were 89% versus 79% for placebo. The RFS benefit was observed across predefined subgroups in the trial, including T category and disease stage. These results are being presented as late-breaking data at the 2022 Society for Melanoma Research Annual Meeting taking place October 17-20, 2022, during a plenary session on October 19 in Edinburgh, Scotland. The safety profile of Opdivo was consistent with that seen in previously reported studies and no new safety signals were observed at the time of the analysis. Grade 3/4 treatment-related adverse events were 10% in the Opdivo arm and 2% in the placebo arm. TRAE-related discontinuation was 15% for those in the Opdivo arm and 3% for those in the placebo arm. "
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AWI | Hot Stocks16:34 EDT Armstrong World increases quarterly dividend 10% to 25.4c per share - Armstrong World announced that its board of directors has approved a 10% increase in the company's quarterly cash dividend to 25.4c per share of common stock. The dividend will be paid on Nov. 17 to shareholders on record as of the close of business on November 3.
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STLD | Hot Stocks16:33 EDT Steel Dynamics says 'customer order entry activity continues to be healthy' - "Customer order entry activity continues to be healthy across our businesses, with expectations for seasonally moderated volume for our steel and metals recycling operations in the coming months," saidCEO Millett. "Despite weaker flat rolled steel pricing, our order activity and backlogs remain solid. We believe North American steel consumption will remain steady, and that demand for lower-carbon, U.S. produced steel products coupled with lower imports will support steel pricing. Our steel fabrication operations order backlog also remains historically high based on volume and forward pricing levels. This, in combination with our existing and recently announced expansion initiatives, are firm drivers for our continued growth in the coming years. Operations continue to ramp up at our Sinton Flat Roll Steel Division. The product surface quality is excellent, and grade development and dimensional tolerances have exceeded our expectations. The Sinton team has been running at a rate of 65 percent during October and achieving rates of over 80 percent for several single day periods, supporting our expectations to achieve a run rate of at least 80 percent for the full year 2023. In addition, our four additional value-added flat rolled steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume(R) coating capability, are expected to begin operating in the second half of 2023. One set will be located onsite at Sinton, providing it with the same diversification and higher-margin product capabilities as our two existing flat rolled steel divisions. The other two lines will be placed at our Heartland Flat Roll Division to support growing coated flat rolled steel demand in the region and to further increase the diversification and cash generation capacity of our existing Midwest operations. We are quickly progressing on our aluminum flat rolled products mill and are incredibly excited about this meaningful growth opportunity, which is aligned with our existing business and operational expertise," said Millett. "We have intentionally grown with our customers' needs, providing efficient sustainable supply-chain solutions for the highest quality products. Thus far, this has primarily been achieved within the carbon steel industry - however, a significant number of our carbon flat rolled steel customers are also consumers and processors of aluminum flat rolled products. We are pleased to further diversify our end markets with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can industry, in addition to the automotive and industrial sectors. We believe our unique performance-based operating culture, coupled with our considerable experience in successfully constructing and operating cost-effective, highly profitable flat rolled steel mills, positions us exceptionally well to execute this strategic opportunity and to deliver strong long-term value creation. Our customers and our people are also incredibly excited for this growth opportunity. Our commitment is to the health and safety of our teams, families, and communities, while meeting the growing needs of our customers. Our culture and business model continue to positively differentiate our performance compared to others. We believe there are strong drivers for our continued growth, and we remain in a position of strength. Our planned investments in a new state-of-the-art low-carbon aluminum flat rolled mill and associated recycled aluminum slab centers continues our strategic growth, is aligned with our core steelmaking and recycling platforms, benefits many of our existing customers, and provides for future value creation. We are well-positioned for sustainable long-term growth," concluded Millett.
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ROCC | Hot Stocks16:33 EDT Ranger:Oil sales volumes were approximately 42.6 Mboe/d - Ranger Oil sees Q3 total sales volumes ~42.6 thousand barrels of Oil equivalent per day, exceeding top end ff guidance range Of 40.9 - 42.5 thousand barrels of Oil equivalent per day. Realized oil prices were approximately $93.03 per barrel, a premium to the quarterly WTI benchmark, or $83.14 per barrel including effects of derivatives, net1. Drilling and completion capital expenditures were approximately $151.9M, which included approximately $3.4M of incremental capital due to D&C operations completed ahead of schedule. D&C capital in the quarter was in-line with the Company's guidance range of $135 - $160M. Ranger continues to find innovative ways to offset industry-wide inflationary pressures and ensure wells get turned to sales on time and on budget.
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CCI | Hot Stocks16:26 EDT Crown Castle increases quarterly dividend 6.5% to $1.57 per share - Crown Castle's board declared a quarterly cash dividend of $1.57 per common share, representing an increase of approximately 6.5% over the previous quarterly dividend of $1.47 per share. The quarterly dividend will be payable on December 30 to common stockholders of record at the close of business on December 15.
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NOG | Hot Stocks16:20 EDT Northern Oil and Gas acquires properties in core of Midland Basin - Northern Oil and Gas announced an agreement to acquire properties in the core of the Midland Basin. NOG has entered into a definitive agreement to acquire a 36.7% working interest in the Mascot Project from Midland-Petro D.C. Partners, LLC for a purchase price of $330M in cash, subject to typical closing adjustments. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings from NOG's revolving credit facility. NOG expects production from the acquired properties to average roughly 4,400 Boe per day in Q1 2023 and roughly 6,450 Boe per day for full year 2023. The acquired assets are located in Midland County, Texas and include four all-depths contiguous drilling spacing units developed for long laterals, 12.1 net producing wells, 5.5 net wells-in-process and approximately 17.3 net undeveloped locations. The properties have incurred minimal legacy vertical drilling relative to typical Midland Basin properties. NOG is also acquiring a pro rata interest in the midstream assets and associated infrastructure, which represent approximately $36M of the allocated value of the transaction. The Mascot Project is operated by Permian Deep Rock Oil Company, an affiliate of MPDC, which is a David H. Arrington-owned business based in Midland, Texas. NOG and MPDC have formulated a joint operating agreement with a plan to fully develop the units, completing the drilling project in 2024. Additional unbooked infill and secondary zones remain for future development. The effective date for the transaction is August 1, 2022, and NOG expects to close the transaction in January 2023. The obligations of the parties to complete the transactions contemplated by the purchase agreement are subject to the satisfaction or waiver of customary closing conditions.
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AA | Hot Stocks16:20 EDT Alcoa backs 2022 total Aluminum segment shipments view of 2.5-2.6M Mt - Alcoa "expects total Aluminum segment shipments to remain unchanged from the prior projection, ranging between 2.5 and 2.6 million metric tons in 2022. In Alumina, the Company has decreased its 2022 projection for shipments to range between 13.1 and 13.3 million metric tons, a reduction of 0.5 million metric tons from the prior projection primarily due to the reduced production at the San Ciprian refinery and lower shipments from the Australian refineries. In Bauxite, the Company has decreased its 2022 projection for annual bauxite shipments to range between 43.0 and 44.0 million dry metric tons, a decrease of 1 million dry metric tons from the prior projection due to lower demand from the Australian refineries. For the fourth quarter of 2022, Alcoa expects higher sequential profitability in the Bauxite segment with increased third-party shipments. In Alumina, the Company anticipates lower energy costs for the San Ciprian refinery during the fourth quarter. Additionally, benefits of the San Ciprian curtailment are expected to offset the impact of lower bauxite quality in Australia and higher raw materials costs. In the Aluminum segment, higher raw materials costs, lower Warrick power plant sales, and lower value add product premiums are expected to be offset by lower energy costs at the Lista smelter."
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AA | Hot Stocks16:19 EDT Alcoa reports Q3 adjusted EBITDA of $210M, down 77% from Q2 - The company announced a "sequential decrease of 77% primarily due to lower aluminum and alumina prices and higher energy and raw material costs."
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RE | Hot Stocks16:17 EDT Everest Re estimates pre-tax net catastrophe losses of $730M for Q3 - Everest Re Group announced preliminary third quarter 2022 catastrophe losses in advance of its full quarterly earnings to be released on October 26, 2022. Everest is estimating total pre-tax net catastrophe losses of $730M for the third quarter 2022. All amounts are net of estimated recoveries and reinstatement premiums. For Hurricane Ian, Everest's loss estimate is based on insured industry losses of approximately $55B, driven in part by the significant social inflation in Florida. For all other global catastrophe events, Everest's loss estimate is based on insured industry losses of approximately $15B. "Our thoughts are with those impacted by the severe weather events across the globe. We are dedicated to supporting our customers in their time of need," said Juan C. Andrade, President and CEO of Everest Re Group. "Hurricane Ian is likely to be the second largest hurricane driven industry loss in U.S. history. Everest's focused execution of its diversification strategy combined with our underwriting discipline, has mitigated our total exposure to approximately 1% of our currently estimated Hurricane Ian industry loss with our reinsurance division expected to be less than 1%."
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RNR | Hot Stocks16:17 EDT RenaissanceRe sees $650M net negative impact on Q3 from catastrophe events - RenaissanceRe "announced it estimates that losses from certain 2022 catastrophe events will have a net negative impact of approximately $650 million on the Company's third quarter 2022 results of operations. This estimate is primarily driven by the net negative impact of approximately $540 million from Hurricane Ian. In addition, losses from certain other catastrophe events, along with the aggregate losses associated with these and other events, contributed to the estimated net negative impact. The Company expects to report a net loss attributable to common shareholders for both the third quarter of 2022 and nine months ended September 30, 2022."
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TSLA | Hot Stocks16:15 EDT Tesla down 5% in after-hours following Q3 report - Tesla shares are down $10.34, or 5%, to $211.70 in after-hours trading.
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UE | Hot Stocks16:15 EDT Urban Edge names Jeffrey Mooallem COO - Urban Edge Properties announced the hiring of Jeffrey S. Mooallem as Chief Operating Officer, effective January 9, 2023. Mooallem is a veteran real estate executive with extensive experience across the industry. For the past five years, he has served as the President and CEO of Gazit Horizons, a U.S. subsidiary of Gazit Globe, a global real estate company, and prior to that, he served in executive leadership positions at Equity One, Inc., Federal Realty Investment Trust and Turnberry. Mooallem has deep expertise leasing, acquiring and redeveloping retail real estate and helped lead the transformation of Serramonte Mall in Daly City, California, Aventura Mall in Aventura, Florida, Ceasar's Bay in Brooklyn, New York, and The Home Depot on 61st Street on the Upper East Side of Manhattan. Mr. Mooallem has successfully led the acquisition and development of more than $2 billion of real estate during his career. "I am delighted to have the opportunity to work with Jeff again," said Jeff Olson, Chairman and CEO. "We enjoyed great success in our four years together at Equity One where Jeff led all aspects of the West Coast division. He is an exceptionally talented real estate executive who has created significant value for shareholders through acquiring and upgrading retail properties. We look forward to having him on board as we continue to execute on our strategic plan of improving retail real estate, primarily in the Washington, D.C. to Boston corridor."
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TSLA | Hot Stocks16:14 EDT Tesla says initial phase of Semi deliveries scheduled to begin in December - Tesla said in its quarterly letter: "The pace of production ramps in Texas and Berlin-Brandenburg will be influenced by the successful introduction of many new product and manufacturing technologies in new locations and ongoing supply chain related challenges... We are making progress on the industrialization of Cybertruck, which is currently planned for Texas production subsequent to Model Y ramp. The initial phase of Tesla Semi deliveries is scheduled to begin in December 2022."
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PPG | Hot Stocks16:12 EDT PPG names Tim Knavish as CEO, Michael McGarry as executive chairman - PPG "announced that Tim Knavish, COO, has been named president and CEO, effective Jan. 1, 2023. Knavish will join the company's Board of Directors, effective October 20, 2022. Knavish, who has served as PPG's COO since March, will succeed Chairman and CEO Michael McGarry in the role of CEO. McGarry, who has served as CEO since September 2015, will become Executive Chairman, effective Jan. 1, 2023. McGarry also has announced to the PPG Board of Directors his intention to retire as Executive Chairman and as a director of the Company, effective October 1, 2023."
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IBM | Hot Stocks16:11 EDT IBM reports Q3 cash from operating activities $6.5B - Reports Q3 free cash flow $4.1B. "Both our revenue growth and operating profit profile for the first three quarters of the year align to the investment thesis we outlined last fall," said James Kavanaugh, IBM senior vice president and chief financial officer. "Our portfolio mix, business fundamentals, strong recurring revenue stream and solid cash generation allow us to invest for continued growth and return value to shareholders through dividends."
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TSLA | Hot Stocks16:11 EDT Tesla says plans to grow manufacturing capacity 'as quickly as possible' - Tesla said in its quarterly update letter: "We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on our equipment capacity, factory uptime, operational efficiency and the capacity and stability of the supply chain. We have sufficient liquidity to fund our product roadmap, long-term capacity expansion plans and other expenses."
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LMPX | Hot Stocks16:11 EDT LMP Automotive announces asset sale deals with Morgan Auto Group - LMP Automotive Holdings announced it has entered into definitive dealership and real estate asset sale agreements to sell LMP's Kia dealerships in Port Charlotte, FL and Cape Coral, FL to Morgan Auto Group. Morgan Auto Group owns and operates fifty-eight franchise dealerships throughout the state of Florida. They acquired their first Kia dealership in 2015 and own and operate five Kia dealerships in the state of Florida today. There are no financing contingencies associated with these acquisitions and the funds are readily available internally at Morgan Auto Group to close. The Company anticipates that the expected closing of the Sale will occur prior to year-end, subject to the terms of the Agreements and numerous conditions precedent to Closing including but not limited to regulatory approval including any approval necessary under the Hart-Scott Rodino Antitrust Act.Furthermore, LMP expects to close on its Tennessee dealership and real-estate interest sale in the coming weeks. Additionally, LMP has received Indications of Interest for its Beckley, WV, its Subaru and Kia dealerships in Beckley, WW, its Chevrolet dealership in Beckley, WV and its General Motors dealership in Beckley, WV and will pursue entering into new sale agreements in connection with these Dealerships within the coming weeks.We continue to believe that our stock price does not reflect the net asset value of our company and believe that this transaction along with the sale of our remaining assets will enable us to maximize stockholder value.The Company further announced that it is continuing to move forward with the Plan of Liquidation allowing the Company to sell all of the Company's assets, distribute the net proceeds to stockholders and dissolve the Company. "The Board and the management team all believe that, given the diversified nature of our portfolio, pursuing multiple transactions with different potential buyers for assets or groups of assets presents the best opportunity to maximize stockholder value as well as to maximize the net proceeds to be distributed to shareholders upon completion of the Plan of Liquidation," said Sam Tawfik, Chief Executive Officer and Chairman.
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WU | Hot Stocks16:10 EDT Western Union: Outlook assumes macro softness will persist for rest of year
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FCPT | Hot Stocks16:09 EDT Four Corners Property Trust acquires Tires Plus property for $2.1M - Four Corners Property Trust announces the acquisition of a Tires Plus property for $2.1 million. The property is located in a strong retail corridor in Ohio and is corporate-operated under a triple net lease with approximately 5 years of term remaining and annual rent increases of 2%. The transaction was priced at a 6.5%, exclusive of transaction costs.
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WU | Hot Stocks16:09 EDT Western Union reaffirms FY22 outlook
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TSLA | Hot Stocks16:09 EDT Tesla says Q3 'another strong quarter' with 'record revenue' - Tesla said in its quarterly update letter: "The third quarter of 2022 was another strong quarter with record revenue, operating profit and free cash flow." In the last 12 months, our free cash flow exceeded $8.9B. Our operating margin reached 17.2% in Q3."
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LVS | Hot Stocks16:07 EDT Las Vegas Sands CEO 'confident in the recovery of travel and tourism spending' - "While travel restrictions continued to impact our financial results this quarter, we were pleased to see further progress in Singapore's recovery, with Marina Bay Sands reaching $343 million in adjusted property EBITDA. We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are able to travel to both Singapore and Macao," said Robert Goldstein, chairman and CEO. "We remain confident in the recovery of travel and tourism spending across our markets. Demand from customers who have been able to visit remains robust. Our investments in our team members, our communities and our industry-leading Integrated Resort property portfolio position us exceedingly well to deliver future growth as travel restrictions subside and the recovery in travel and tourism progresses. We are fortunate that our financial strength supports our investment and capital expenditure programs in both Macao and Singapore, as well as our pursuit of growth opportunities in new markets."
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KNX | Hot Stocks16:07 EDT Knight-Swift sees overall consumer moderating in Q4 - In Q4, the company sees: "Minimal non-contract opportunities, Muted peak season, Strong demand continues for trailer pools, Small carriers continue to exit as a result of lower spot rates and significantly higher operating costs, LTL demand remains stable with continued increases in revenue per hundredweight yearover-year, Labor availability improves for stronger carriers, Inflationary pressures continue for equipment, maintenance, labor and other cost items, Demand for used equipment market weakens as small carriers struggle."
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KMI | Hot Stocks16:07 EDT Kinder Morgan sees FY22 net income $2.5B - For 2022, KMI budgeted to generate net income attributable to KMI of $2.5 billion and declare dividends of $1.11 per share, a 3% increase from the dividends declared for 2021. The company also budgeted to generate 2022 DCF of $4.7 billion and Adjusted EBITDA of $7.2 billion and to end 2022 with a Net Debt-to-Adjusted EBITDA ratio of 4.3 times. KMI now expects net income attributable to KMI to be favorable to budget by approximately 3% and Adjusted EBITDA and DCF to be favorable to budget by approximately 4%-5%. Net income is impacted by unsettled hedges, which we treat as Certain Items.
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KMI | Hot Stocks16:06 EDT Kinder Morgan raises quarterly dividend 3% to 27.75c per share - Kinder Morgan, Inc.'s board of directors today approved a cash dividend of $0.2775 per share for the third quarter ($1.11 annualized), payable on November 15, 2022, to stockholders of record as of the close of business on October 31, 2022. This dividend is a 3% increase over the third quarter of 2021.
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VZIO | Hot Stocks15:27 EDT U.S. ITC institutes investigation of Vizio smart TVs at request of Maxell - The U.S. International Trade Commission instituted an investigation to determine whether there is a violation of section 337 in the importation into the United States, the sale for importation, or the sale within the United States after importation of "certain smart televisions, i.e., certain VIZIO-branded smart televisions" due to infringement of one or more patents, as alleged by Maxell, according to a notice posted to the ITC site. Reference Link
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NSRGY CDXC | Hot Stocks15:26 EDT Nestle reports 5.11% passive stake in ChromaDex - In a regulatory filing, Nestle (NSRGY) disclosed a 5.11% stake in ChromaDex (CDXC), representing 3,816,794 shares. The filing does not allow for activism.
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MCRB | Hot Stocks14:04 EDT Seres Therapeutics reports ECOSPOR III data on SER-109 published in JAMA - Seres Therapeutics announced the publication of Phase 3 clinical data in the Journal of the American Medical Association, or JAMA, "highlighting that the clinical benefits of investigational therapeutic SER-109 for preventing recurrent C. difficile infection, rCDI, were apparent as early as two weeks post-treatment and sustained for at least 24 weeks." The JAMA paper summarizes data from the secondary endpoints of the multicenter, double-blind ECOSPOR III trial, which enrolled 182 participants with a history of rCDI and randomly assigned them to receive either SER-109 or placebo. At each of the 4-, 12- and 24-week secondary endpoints, significantly fewer participants in the SER-109 group experienced a CDI recurrence, compared to the placebo group, building on the positive 8-week primary endpoint data published earlier this year in the New England Journal of Medicine. "We are honored to see these important findings published in such a well-regarded medical research journal. Recurrent C. difficile infection can be difficult to treat, and these findings further suggest that repopulating the GI tract with key protective bacteria via oral delivery has the potential to dramatically reduce the risk of recurrence," said Lisa von Moltke, M.D., Chief Medical Officer at Seres and publication co-author. A Biologics License Application, or BLA, for SER-109 has been submitted to the U.S. Food and Drug Administration and Seres anticipates product approval and commercial launch in the first half of 2023.
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HTLF | Hot Stocks14:03 EDT Heartland Financial raises quarterly dividend to 28c from 27c - Heartland Financial USA announced its board approved a quarterly cash dividend of 28c per share of the company's common stock, an increase of 1c, payable on November 29, to stockholders of record at the close of business on November 14.
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CNI... | Hot Stocks13:45 EDT North American rail traffic up 1.9% for the week ending October 15 - The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending October 15. For this week, total U.S. weekly rail traffic was 500,304 carloads and intermodal units, up 0.7% compared with the same week last year. Total carloads for the week ending October 15 were 237,263 carloads, up 3.2% compared with the same week in 2021, while U.S. weekly intermodal volume was 263,041 containers and trailers, down 1.6% compared to 2021. North American rail volume for the week ending October 15, on 12 reporting U.S., Canadian and Mexican railroads totaled 344,407 carloads, up 3.9% compared with the same week last year, and 350,845 intermodal units, down 0% compared with last year. Total combined weekly rail traffic in North America was 695,252 carloads and intermodal units, up 1.9%. North American rail volume for the first 41 weeks of 2022 was 27,787,375 carloads and intermodal units, down 2.1% compared with 2021. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP), FreightCar America (RAIL), Trinity Industries (TRN), Greenbrier (GBX) and Wabtec (WAB). Reference Link
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TPC | Hot Stocks13:42 EDT Tutor Perini announces subsidiary awarded federal contracts valued at $164M - Tutor Perini announced that its subsidiary, Perini Management Services, Inc. , or PMSI, has been awarded three fixed-price federal contracts collectively valued at approximately $164M. The combined contract values will be included in the company's third-quarter 2022 backlog.
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SAPMY | Hot Stocks13:27 EDT Saipem awarded Qatargas contract worth about $4.5B - Saipem announced it has been awarded a contract by Qatargas for the North Field Production Sustainability Offshore Compression Complexes Project - EPC 2 located offshore the north-east coast of Qatar. The contract value amounts to approximately $4.5B. "The scope of work encompasses the engineering, procurement, fabrication and installation of two offshore natural gas compression complexes aimed at sustaining the production of the North Field, including two of the largest fixed steel jacket compression platforms ever built, flare platforms, interconnecting bridges, living quarters and interface modules. To execute this project, Saipem will leverage on its own assets, know-how and competences on offshore engineering, installation and fabrication, as well as its capability to maximize local content," the company stated. Reference Link
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MRNA | Hot Stocks13:03 EDT Moderna announces CHMP issues positive opinion on bivalent vaccine - Moderna announced that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has adopted a positive opinion recommending conditional marketing authorization for mRNA-1273.222, Spikevax bivalent Original/Omicron BA.4-5, as a booster dose for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 12 years of age and older, who have previously received at least a primary vaccination course against COVID-19. "Following the CHMP's positive opinion, the European Commission will make an authorization decision on the use of Spikevax bivalent Original/Omicron BA.4-5. This vaccine now joins Moderna's other updated booster vaccine, mRNA 1273.214, that targets the BA.1 variant, for use in individuals 12 years and older," the company stated.
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ICL | Hot Stocks12:42 EDT ICL to receive $197M federal grant through Bipartisan Infrastructure Law - ICL announced that it plans to build a $400M lithium iron phosphate, or LFP, cathode active material manufacturing plant in St. Louis. "This is expected to be the first large-scale LFP material manufacturing plant in the United States," ICL stated. The company was awarded $197M through the Bipartisan Infrastructure Law funding, which is subject to the completion of negotiations with the Department of Energy. "The plant is expected to be operational by 2024 and will produce high-quality LFP material for the global lithium battery industry, using primarily a domestic supply chain. The LFP plant represents a significant expansion of ICL's energy storage portfolio and demonstrates the company's commitment to developing high-quality specialty products for agricultural, food and industrial applications," ICL added.
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MRNA | Hot Stocks12:41 EDT Moderna announces CHMP issues positive opinion on variation to Spikevax CMA - Moderna announced that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has issued a positive opinion recommending a variation to the conditional marketing authorization, or CMA, to include a 25 B5g two-dose series of Spikevax, mRNA-1273, for active immunization to prevent coronavirus disease 2019 caused by SARS-CoV-2 in children 6 months to 5 years. Following the CHMP's positive opinion, the European Commission will make an authorization decision on the use of Spikevax in children ages 6 months to 5 years. "This recommendation by the CHMP reaffirms the effectiveness and safety of mRNA-1273 and provides parents across Europe with another option to protect their young children against COVID-19, a group at high risk of infection and where additional health prevention measures may not always be feasible," said Stephane Bancel, Moderna's CEO. "We are grateful to the CHMP for their review and look forward to an authorization decision from the European Commission."
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C... | Hot Stocks12:21 EDT Texas AG investigating six banks over consumer protection laws - Texas Attorney General Paxton said he joined a multistate investigation into Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS), JPMorgan Chase (JPM), Goldman Sachs (GS) and Citi (C) "for potential violations of consumer protection laws." The investigation will focus on the financial institutions joining the Net-Zero Banking Alliance, Paxton said in a statement. "It is believed that the banks, with oversight by the United Nations, collectively agreed that each of their lending practices will reflect the target of net-zero greenhouse gas emissions by 2050, with interim targets in 2030, based on the Paris Agreement. The effect of this accord would be to starve companies engaged in fossil fuel-related activities of credit on national and international markets," he added. Reference Link
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HCP INTC | Hot Stocks12:05 EDT Intel announces new cloud collaboration with HashiCorp - Intel (INTC) announced a new collaboration with HashiCorp (HCP) "to help customers accelerate their cloud journey and optimize the cost, performance and security of their cloud workloads." HashiCorp provides open source and commercial products that enable developers, operators and security professionals to provision, secure, connect and run cloud-computing infrastructure through automation, Intel said in a statement. Together, the companies will provide developers with Sentinel policy recommendations leveraging built-in Intel Xeon Scalable accelerators to optimize workloads and improve the return on investment of their cloud strategy, it added. Reference Link
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MAA | Hot Stocks12:01 EDT MAA announces planned retirement of COO Thomas Grimes - MAA announced the planned retirement of Thomas L. Grimes, Jr., Executive Vice President and COO. Grimes will retire effective December 31, 2022. Mr. Grimes initially joined MAA as part of the company's manager trainee program and subsequently served in a number of leadership roles, including serving as a member of the executive leadership team for the past 11 years. In addition to Grimes' retirement, the company announced that Amber Fairbanks has been promoted to a new leadership role as Executive Vice President of Property Management. Tim Argo, Executive Vice President & Chief Strategy and Analysis Officer will assume responsibility for MAA's Asset Management operations.
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CVNA | Hot Stocks12:00 EDT Carvana falls -14.2% - Carvana is down -14.2%, or -$2.61 to $15.76.
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EVTL | Hot Stocks12:00 EDT Vertical Aerospace falls -15.1% - Vertical Aerospace is down -15.1%, or -$1.40 to $7.85.
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GNRC | Hot Stocks12:00 EDT Generac falls -21.9% - Generac is down -21.9%, or -$32.41 to $115.33.
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LABD | Hot Stocks12:00 EDT Daily S&P Biotech Bear 3x Shares rises 9.6% - Daily S&P Biotech Bear 3x Shares is up 9.6%, or $2.07 to $23.66.
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ZYME | Hot Stocks12:00 EDT Zymeworks rises 18.9% - Zymeworks is up 18.9%, or $1.06 to $6.67.
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AMPX | Hot Stocks12:00 EDT Amprius Technologies rises 30.6% - Amprius Technologies is up 30.6%, or $1.90 to $8.11.
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PFE BNTX | Hot Stocks11:47 EDT Pfizer, BioNTech report positive CHMP opinion on Comirnaty in kids over 6 months - Pfizer (PFE) and BioNTech SE (BNTX) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has recommended marketing authorization for a 3-microgram dose of Comirnaty COVID-19 vaccine, mRNA, which is based on the wild-type spike protein of SARS-CoV-2, as a three-dose series for children ages 6 months to less than 5 years, also referred to as 6 months through 4 years of age. "The European Commission will review the CHMP recommendation and is expected to make a final decision soon," the companies said.
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ALB | Hot Stocks11:47 EDT Albemarle announces DOE grant for North Carolina lithium facility - Albemarle announced it has been awarded a nearly $150M grant from the U.S. Department of Energy as part of the first set of projects funded by the President's Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles and the electrical grid and for materials and components currently imported from other countries. The grant funding is intended to support a portion of the anticipated cost to construct a new, commercial-scale U.S.-based lithium concentrator facility at Albemarle's Kings Mountain, North Carolina, location, the company said in a statement. Albemarle expects the concentrator facility to create hundreds of construction and full-time jobs, and to supply up to 350,000 metric tons per year of spodumene concentrate to the company's previously announced mega-flex lithium conversion facility.
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CHGG | Hot Stocks11:46 EDT Chegg appoints Nathan Schultz as COO, effective immediately - Chegg announced the promotion of Nathan Schultz to COO, effective immediately. Schultz has served in various roles at Chegg for 15 years, and was previously President of Learning Services, where he was responsible for all aspects of Chegg's learning tools. In the newly created role, Schultz will drive the expansion and further integration of Chegg's direct-to-student services including learning services, non-academic support, and career skills training, the company said in a statement. "Nathan has been a transformational leader at our company for many years, and on behalf of myself, his colleagues, and our Board of Directors, we are all delighted he is taking on the role of COO," said Dan Rosensweig, CEO and President of Chegg.
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BMWYY | Hot Stocks11:45 EDT BMW announces $1.7B investment to build electric vehicles in the U.S. - The BMW Group continues the roll-out of its electromobility plan with a new investment in the U.S. to expand Plant Spartanburg and the company's manufacturing footprint in the U.S. BMW Group Chairman of the Board of Management, Oliver Zipse, announced a $1.7B investment in its U.S. operations, including $1B to prepare for the production of electric vehicles at the company's existing U.S. manufacturing facility in South Carolina, and $700M to build a new high-voltage battery assembly facility in nearby Woodruff, SC. By 2030 BMW Group will build at least six fully electric models in the U.S. In line with the principle of "local for local," the BMW Group aims to purchase battery cells for its electric vehicles where production takes place. The company has found a partner in Envision AESC, which will build a new battery cell factory in South Carolina, to supply Plant Spartanburg. Envision will produce newly developed round lithium-ion battery cells, which were specifically designed for the sixth generation of BMW eDrive technology, and will be used in the next generation electric vehicles. The annual capacity of the battery cell factory will be up to 30 GWh. Reference Link
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NVX | Hot Stocks11:43 EDT Novonix selected for $150M grant from U.S. DOE - Novonix Limited announced that its Novonix Anode Materials division was selected to enter negotiations to receive $150M in grant funding from the U.S. Department of Energy to expand its domestic production of high-performance, synthetic graphite anode materials. "This award, announced by President Biden, strengthens the North American battery supply chain amidst surging demand and growing calls to onshore these critical industries. Negotiations will cover final conditions including operational milestones and timing and schedule of payment of grant funds... The funding announced today by the Department of Energy is the first phase of over $7 billion in total provided by the President's Bipartisan Infrastructure Law for the battery supply chain and supports NOVONIX's execution of its strategic growth plan for synthetic graphite anode materials produced in the U.S. Specifically, the grant funds will be dedicated to the construction of a 30,000 tonnes per annum U.S. manufacturing facility, including site selection, plant layout, and engineering design with capability for additional expansion," the company stated.
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PLL | Hot Stocks11:33 EDT Piedmont Lithium selected for $141.7M grant by U.S. DOE - Piedmont Lithium announced that it has been selected for a $141.7M grant from the U.S. Department of Energy, one of the first set of projects funded by the President's Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for EVs and the electrical grid and for materials and components currently imported from other countries. The funding will support the construction of the Company's approximately $600 million Tennessee Lithium project, which aims to expand the U.S. supply of lithium hydroxide by 30,000 metric tons per year. Lithium hydroxide is a key component of high energy density, long-range, electric vehicle batteries.
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MVST... | Hot Stocks11:31 EDT Microvast, Albemarle among infrastructure law funding recipients - The Biden-Harris Administration, through the U.S. Department of Energy, earlier today announced the first set of projects funded by the President's Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles, or EVs, and the electrical grid and for materials and components currently imported from other countries. "The 20 companies will receive a combined $2.8 billion to build and expand commercial-scale facilitiesin 12 states to extract and process lithium, graphite and other battery materials, manufacture components, and demonstrate new approaches, including manufacturing components from recycled materials. The Federal investment will be matched by recipients to leverage a total of more than $9 billion to boost American production of clean energy technology, create good-paying jobs, and support President Biden's national goals for electric vehicles to make up half of all new vehicle sales by 2030 and to transition to a net-zero emissions economy by 2050," the DOE stated. Among the 20 recipient companies listed were Microvast (MVST), Albemarle (ALB), Piedmont Lithium (PLL) and Applied Materials (AMAT). Reference Link
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FEDU | Hot Stocks11:18 EDT Four Seasons Edu (Cayman) Inc ADR trading resumes
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MRNA | Hot Stocks11:16 EDT EMA recommends approval of second adapted Spikevax vaccine - EMA's human medicines committee, or CHMP, has recommended authorizing an adapted Spikevax COVID-19 vaccine targeting the Omicron subvariants BA.4 and BA.5 in addition to the original strain of SARS-CoV-2. "The adapted vaccine, Spikevax bivalent Original/Omicron BA.4-5, is recommended for adults and children from 12 years of age who have already had a primary vaccination course against COVID-19. This is the second adapted Spikevax vaccine that EMA has recommended for approval. An adapted Spikevax vaccine targeting Omicron BA.1 and the original strain was authorized in September 2022," the EMA stated. Reference Link
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ERNA | Hot Stocks11:16 EDT ERNA Stock trading resumes
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PFE... | Hot Stocks11:14 EDT EMA recommends approval of Comirnaty, Spikevax for children over 6 months - EMA's human medicines committee, or CHMP, has recommended extending the use of Pfizer (PFE) and BioNTech's (BNTX) Comirnaty and Moderna's (MRNA) Spikevax targeting the original strain of SARS-CoV-2. The Committee recommended including the use in children aged 6 months to 4 years for Comirnaty and use in children aged 6 months to 5 years for Spikevax. Comirnaty and Spikevax are already approved in both adults and children aged from 5 and 6 years, respectively. Reference Link
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FEDU | Hot Stocks11:13 EDT Four Seasons Edu (Cayman) Inc ADR trading halted, volatility trading pause
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ERNA | Hot Stocks11:11 EDT ERNA Stock trading halted, volatility trading pause
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NVAX | Hot Stocks11:06 EDT Novavax says FDA grants EUA for COVID-19 vaccine as booster for adults - Novavax announced that the Novavax COVID-19 Vaccine, Adjuvanted, or NVX-CoV2373, has received emergency use authorization, or EUA, from the U.S. Food and Drug Administration to provide a first booster dose at least six months after completion of primary vaccination with an authorized or approved COVID-19 vaccine to individuals 18 years of age and older for whom an FDA-authorized mRNA bivalent COVID-19 booster vaccine is not accessible or clinically appropriate, and to individuals 18 years of age and older who elect to receive the Novavax COVID-19 Vaccine, Adjuvanted because they would otherwise not receive a booster dose of a COVID-19 vaccine. "The next step for the vaccine is a policy recommendation for use as a first booster from the Centers for Disease Control and Prevention. Doses of the Novavax COVID-19 Vaccine, Adjuvanted are available for use in the U.S. pending this final step," the company stated.
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PNFP | Hot Stocks11:05 EDT Pinnacle Financial sees 'low 20%" EOP loan growth for FY22 - Estimates cumulative loan beta will settle around 60% for 2022. GAAP net interest income growth for 2022 is estimated to be low 20s percentage growth from 2021. Fee growth should approximate high-single digit percentage growth. The company is "confident" in its model to produce outsized revenue and earnings growth. Comments taken from Q3 earnings conference call presentation slides.
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FOXA... | Hot Stocks11:04 EDT Fox Corp. announces partnership with Magnite for OneFOX - Fox Corporation (FOXA, FOX) announced a partnership with Magnite (MGNI) to serve as the launch partner to power programmatic campaigns for OneFOX video inventory across the company's entertainment, sports, streaming and news portfolio. "Today's announcement is part of FOX's continuing strategy of providing more innovative advertising tools and resources to further deliver integration and alignment with its industry-leading brands, as well as enhancing an advertiser's return on investment through effective innovative solutions. OneFOX provides advertisers with seamless access to streaming audiences at scale and the opportunity to leverage the full power of FOX's unmatched portfolio of premium content across all connected TV, streaming, AVOD and FAST video inventory. Magnite will serve as a sell-side advertising platform connected to the OneFOX inventory. Together, FOX and Magnite will build custom technology solutions that further streamline the buying process and enable advertisers to create one simple and unified plan to deliver their private marketplace and programmatic guaranteed campaigns across the FOX portfolio," the company stated.
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LHX | Hot Stocks11:03 EDT L3Harris invests in Seasats for autonomous maritime capabilities - L3Harris Technologiesannounced a strategic investment in Seasats, a privately-owned company involved in the design and production of low-cost, solar-powered maritime autonomous surface vehicles for military and commercial use. L3Harris is making its investment to fuel collaborative development and accelerate production of Seasats' X3 micro-ASV, whose unique design and low-signature waterline makes it difficult to detect by sight and radar. The X3 features stealthy performance and reliable six-month endurance in all weather conditions for a fraction of the price of current small maritime ASVs, and provides a complement to L3Harris' large and medium-sized ASV offerings.
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NVAX | Hot Stocks11:02 EDT FDA reissuing September letter of authorization for Novavax booster - In a letter dated October 19 that was posted to the FDA website, the agency stated in part: "On October 19, 2022, having concluded that revising this EUA is appropriate to protect the public health or safety under section 564(g)(2) of the Act, FDA is reissuing the September 12, 2022 letter of authorization in its entirety to authorize the use of Novavax COVID-19 Vaccine, Adjuvanted as a first booster dose to the following individuals at least 6 months after completion of primary vaccination with an authorized or approved COVID-19 vaccine: Individuals 18 years of age and older for whom an FDA-authorized mRNA bivalent COVID-19 booster vaccine is not accessible or clinically appropriate, and; Individuals 18 years of age and older who elect to receive the Novavax COVID-19 Vaccine, Adjuvanted because they would otherwise not receive a booster dose of a COVID-19 vaccine. In addition, FDA is revising the Fact Sheets for Novavax COVID-19 Vaccine, Adjuvanted, to reflect these changes." Reference Link
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UAL | Hot Stocks10:52 EDT United Airlines: Entering Q4 with a lot of momentum
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UAL | Hot Stocks10:45 EDT United Airlines: September was third best TRASM month ever - Says October on track to replace September as third best TRASM month ever.
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UAL | Hot Stocks10:43 EDT United Airlines notes 'permanent structural change' in leisure demand - There has been a permanent structural change in leisure demand because of the flexibility that hybrid work allows, United Airlines said.
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UAL | Hot Stocks10:40 EDT United Airlines on track to hire 2,300 pilots this year
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UAL | Hot Stocks10:39 EDT United expects to hire 15,000 new team members this year, 15,000 next year
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UAL | Hot Stocks10:35 EDT United Airlines CEO 'so optimistic' about 2023
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UAL | Hot Stocks10:34 EDT United Airlines CEO: Air travel 'still in Covid recovery' - CEO Scott Kirby says hybrid work gives "freedom and flexibility to travel for leisure more often."
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UAL | Hot Stocks10:33 EDT United operations running better than ever, 'firing on all cylinders,' says CEO - Comments taken from Q3 earnings conference call.
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TGODF | Hot Stocks10:15 EDT Green Organic Dutchman enters agreement to merge with BZAM - The Green Organic Dutchman Holdings and BZAM Holdings announced that they have entered into a binding and definitive share exchange agreement dated October 18, 2022 with BZAM's sole shareholder, pursuant to which TGOD will acquire all of the issued and outstanding common shares of BZAM from the BZAM Shareholder, in exchange for common shares of TGOD. The Transaction will result in the BZAM Shareholder ultimately holding an approximate 49.5% of the issued and outstanding Combined Entity Shares upon closing of the Transaction, with the ability to earn additional Combined Entity Shares subject to achievement of certain financial milestones in 2023. The combined entity resulting from the Transaction is estimated to be the sixth largest Canadian cannabis company based on June to August 2022 retail sales, with scale and breadth across major provinces and a complete portfolio of market leading brands and products. The combination of BZAM and TGOD is expected to deliver at least C$10M of annualized cost synergies within the first three quarters following completion of the Transaction, aiding in the achievement of positive adjusted earnings before interest, taxes, depreciation and amortization by mid 2023. The Combined Entity expects to achieve cost synergies in the key areas of cultivation and production, cannabis and product purchasing, sales, marketing and corporate expenses. BZAM's Pitt Meadows, British Columbia facility will also provide TGOD with low-cost THC distillate and extraction capabilities, which is expected to improve cannabis 2.0 product margins. The Combined Entity expects to share a unified sales force leading to improvements of geographical coverage and increased retail distribution. The Transaction is expected to result in a stronger balance sheet and provide the Combined Entity with access to lower cost capital. Upon completion of the Transaction, BZAM's current CEO Matt Milich, and CCO, Jordan Winnett, will lead the Combined Entity as CEO, CCO, along with TGOD's current CEO and Interim CFO Sean Bovingdon, who will take the role of CFO, in order to assist with the integration of BZAM and TGOD and the transitionary period of the Combined Entity. The board of directors of the Combined Entity will consist of seven members including five members from TGOD's existing board of directors, and two members nominated by BZAM. In consideration for all the issued and outstanding common shares of BZAM, upon Closing, TGOD will issue Combined Entity Shares to the BZAM Shareholder in two tranches, totalling an approximate 49.5% ownership stake of the Combined Entity. In addition, the BZAM Shareholder is also entitled to earn up to C$33M in Combined Entity Shares, subject to achievement of certain Milestones. The Milestones include payouts of Milestone Shares tied to annual net revenue targets and positive adjusted EBITDA targets for 2023. The Transaction is scheduled to close on or about November 3, 2022, subject to a number of customary conditions being satisfied or waived. Each Milestone Share shall be issued at a deemed price of the greater of C$0.0596, that being the 15-day volume weighted average price of the common shares of TGOD immediately prior to the date the Agreement was signed, and the minimum price permitted under the policies of the Canadian Securities Exchange. In accordance with the terms of the Agreement, the BZAM Shareholder will enter into a contractual lock-up agreement, whereby the Combined Entity Shares received as part of Closing and excluding the Milestone Shares, shall be subject to escrow with 1/3 of such Escrowed Shares being released on the 4-month, 8-month, and 12-month anniversaries of the date such Escrowed Shares are issued.
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AMPX | Hot Stocks10:14 EDT Amprius Technologies trading resumes
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AMPX | Hot Stocks10:08 EDT Amprius Technologies trading halted, volatility trading pause
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CALT | Hot Stocks10:07 EDT Calliditas Therapeutics announces publication of results from NefIgArd Part A - Calliditas Therapeutics announced Kidney International has published the successful results from NefIgArd Part A, their pivotal Phase 3, randomized, double-blind, placebo-controlled, multicenter study. The publication highlights the safety results and efficacy data related to both proteinuria and estimated glomerular filtration rate for patients treated with TARPEYO while on background of optimized and stable renin-angiotensin system inhibitor therapy. "The publication of data from our NefIgArd Phase 3 study will address physician requests related to more comprehensive information regarding the mode of action and efficacy of TARPEYO, the first and only FDA-approved treatment specifically designed for this disease," said CEO Renee Aguiar-Lucander. "We are excited to share these data and see this as reinforcing evidence of the differentiation we believe that TARPEYO represents, as well as its potential to be disease modifying." IgAN is a chronic autoimmune disease with a significant burden of disease, with more than 50% of patients progressing to end-stage kidney disease within 20 years of initial diagnosis.
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MTB | Hot Stocks10:00 EDT M&T Bank falls -10.3% - M&T Bank is down -10.3%, or -$19.45 to $169.91.
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YMM | Hot Stocks10:00 EDT Full Truck Alliance falls -10.7% - Full Truck Alliance is down -10.7%, or -63c to $5.26.
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GNRC | Hot Stocks10:00 EDT Generac falls -21.3% - Generac is down -21.3%, or -$31.53 to $116.21.
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JDST | Hot Stocks10:00 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares rises 6.4% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is up 6.4%, or 92c to $15.30.
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AMPX | Hot Stocks10:00 EDT Amprius Technologies rises 10.0% - Amprius Technologies is up 10.0%, or 62c to $6.83.
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ZYME | Hot Stocks10:00 EDT Zymeworks rises 9.3% - Zymeworks is up 9.3%, or 52c to $6.13.
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ABT | Hot Stocks09:59 EDT Abbott says 'don't need to do M&A,' but lots of opportunities exist
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TBLT | Hot Stocks09:56 EDT ToughBuilt enters South American distribution agreement with Sodimac - ToughBuilt Industries has reached a comprehensive distribution agreement with Sodimac, a home improvement and construction supplier in South America; beginning with Peru and Colombia with 15 ToughBuilt SKUs.
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ALLY | Hot Stocks09:53 EDT Ally Financial sees Q4 as earnings 'low point'
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MTB | Hot Stocks09:47 EDT M&T Bank falls -9.9% - M&T Bank is down -9.9%, or -$18.67 to $170.69.
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WGO | Hot Stocks09:47 EDT Winnebago falls -10.4% - Winnebago is down -10.4%, or -$6.25 to $53.94.
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GNRC | Hot Stocks09:47 EDT Generac falls -17.1% - Generac is down -17.1%, or -$25.31 to $122.43.
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COOK | Hot Stocks09:47 EDT Traeger rises 4.7% - Traeger is up 4.7%, or 14c to $3.11.
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KOLD | Hot Stocks09:47 EDT ProShares UltraShort Bloomberg Natural Gas rises 5.8% - ProShares UltraShort Bloomberg Natural Gas is up 5.8%, or $1.21 to $22.21.
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ZYME | Hot Stocks09:47 EDT Zymeworks rises 7.5% - Zymeworks is up 7.5%, or 42c to $6.03.
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LLL | Hot Stocks09:44 EDT JX Luxventure closes sale of menswear business for $10M - JX Luxventure announced that, on October 19, 2022, the Company entered into and executed a stock purchase agreement with Shenzhen Zhongjiyingfeng Investment and, pursuant to the terms of the Agreement, consummated the sale of its 100% ownership in Hongri International Holding, a wholly-owned subsidiary of the Company through which the Company operated its menswear business segment, to the Purchaser for a total amount of $10,000,000. Following the consummation of the Transaction, the Company will continue to own and operate its tourism, duty-free cross-border merchandise, eCommerce and B2B SAAS solutions business.
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LMAO | Hot Stocks09:44 EDT LMF Acquisition Opportunities Inc trading resumes
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LMAO | Hot Stocks09:34 EDT LMF Acquisition Opportunities Inc trading halted, volatility trading pause
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MMLP | Hot Stocks09:29 EDT Martin Midstream Partners enters joint venture with Samsung C&T America, Dongjin - Martin Midstream Partners announced that, through an affiliate Martin ELSA Investment, it has entered into definitive agreements with Samsung C&T America and Dongjin USA, an affiliate of Dongjin Semichem to form DSM Semichem. DSM will produce and distribute electronic level sulfuric acid, or ELSA. By leveraging the existing assets of MMLP located in Plainview, Texas and installing additional facilities as required, DSM will produce ELSA that meets the strict quality standards required by the recent advances in semiconductor manufacturing. In addition to owning a 10% non-controlling interest in DSM, the partnership will be the exclusive provider of feedstock to the ELSA facility. MMLP, through its affiliate Martin Transport, Inc., will also provide land transportation services to end-users of the ELSA produced by DSM. Assuming growth capital investments of approximately $20M, the partnership expects to realize annual distributable cash flow of $5M to $6M from both the improvements to the existing assets and its interest in DSM. The ELSA facility is estimated to start-up in the first quarter of 2024.
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TMUS AAPL | Hot Stocks09:29 EDT T-Mobile to offer new iPad Pro and iPad - T-Mobile (TMUS) will offer the new iPad Pro with M2-delivering the ultimate combination of portability, versatility, and unbelievable performance-and the new iPad with an all-screen design in four vibrant colors, featuring a large 10.9-inch Liquid Retina display. M2, the start of Apple's (AAPL) next generation of M-series chips, brings even more breakthrough performance and new capabilities to iPad Pro, with industry-leading power efficiency, a unified memory architecture, and custom technologies. Along with the world's most advanced mobile display, pro cameras, Face ID, Thunderbolt, and a four-speaker audio system, the new iPad Pro features a next-level Apple Pencil hover experience and the fastest Wi-Fi connections with Wi-Fi 6E, with downloads up to 2.4Gb/s, 2x faster than the previous generation and Wi-Fi + Cellular models with 5G cellular.
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MDGS | Hot Stocks09:27 EDT Medigus says ScoutCam appoints Yehu Ofer as CEO - Medigus announced today that ScoutCam announced the appointment of Yehu Ofer as CEO, effective immediately. Mr. Ofer, a former Israeli Air Force pilot and commander, as well as a leading professional in the aviation and aerospace industries, will lend his decades of experience to ScoutCam's continued growth and success.
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MAR | Hot Stocks09:25 EDT Marriott to acquire City Express brand portfolio for $100M - Marriott International announced that it has reached an agreement with Hoteles City Express to acquire the highly regarded City Express brand portfolio, marking Marriott's entry into the affordable midscale segment with its 31st brand. The portfolio is currently comprised of 152 hotels, including 17,356 rooms across 75 cities in Mexico and three additional countries in Latin America. Upon closing of the transaction, the brand and hotel portfolio will become part of Marriott's franchise system. Marriott will also acquire the franchise rights to five under-construction projects in the pipeline, representing an additional 676 rooms. Marriott expects to update the brand name with its signature "by Marriott" endorsement. Under the terms of the agreement, Marriott will pay $100M for Hoteles City's brand portfolio, associated trademarks, domains and related intellectual property, the City Premios loyalty program, and other assets and liabilities related to the brand. Stabilized franchise fees are anticipated to be approximately $10M for the existing portfolio. As the largest hospitality company in the world, Marriott has a proven track record of growing regional brands by utilizing its global development engine as well as its extensive programs and revenue systems, such as the award-winning Marriott Bonvoy loyalty platform and innovative digital travel programs including Marriott.com and the Marriott Bonvoy mobile app. The transaction is expected to make Marriott the largest hotel company in the Caribbean and Latin America, increasing its presence in the region by 45%, to 486 properties across 37 countries. The closing of the transaction is subject to various customary conditions, including the approval by COFECE. Marriott expects the transaction could close between the end of 2022 and the first half of 2023.
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CULL | Hot Stocks09:22 EDT Cullman Bancorp adopts 550,000 share stock repurchase program - Cullman Bancorp announced that its Board of Directors has adopted a stock repurchase program. Under the repurchase program, the Company may repurchase up to 550,000 shares of its common stock, or approximately 7.5% of the current outstanding shares. Repurchases will be made no sooner than the termination of the Company's regular trading blackout period, and consistent with the Company's trading policies. The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.
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CEAD | Hot Stocks09:22 EDT CEA's Surna Cultivation partners with Evoqua Water Technologies - Surna Cultivation Technologies, a subsidiary of CEA Industries, announces another expansion to its products and services offerings to include a portfolio of water treatment solutions. "Surna recognizes that not all water is the same and can vary widely from location to location," stated Leandru Schiau, Surna Product Manager. "For example, a cultivator on the west coast may have different water chemistries than one on the east coast. Surna can now provide a holistic water purification solution, designed to the cultivator's water quality, peak water demands, and storage needs." Surna will work with cultivators and provide the necessary technologies to purify water including Reverse Osmosis, Carbon Filtration, Multi-Media Filtration, Water Softeners, and Ultraviolet water treatment.
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AXP CVT | Hot Stocks09:21 EDT American Express, Cvent team up on virtual payment capabilities - American Express (AXP) and Cvent (CVT) introduced enhanced features to the Cvent Event Marketing and Management platform that further expand virtual payment capabilities, leveraging American Express' integrated budget management and payment automation solutions.
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SHLX | Hot Stocks09:21 EDT Shell USA completes acquisition of Shell Midstream - Shell USA and Shell Midstream Partners announced the completion of the transactions contemplated by the previously announced agreement and plan of merger, pursuant to which Shell USA acquired all of the common units representing limited partner interests in SHLX not held by Shell USA or its affiliates for $15.85 per Public Common Unit in cash and a total value of approximately $1.96B. As a result of the transaction, SHLX is now an indirect, wholly owned subsidiary of Shell USA. Effective with the opening of markets today, SHLX's units will no longer be listed on the New York Stock Exchange, and it will cease to be a publicly traded company.
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MOFG | Hot Stocks09:20 EDT MidWestOne appoints Charles Reeves as CEO - MidWestOne Financial Group announced that its Board of Directors has named Charles Reeves as its new CEO effective November 1, 2022. Reeves succeeds Charlie Funk, who is retiring following a 22-year career with the organization. Funk will remain with MidWestOne through April 2023 as a special advisor to ensure a seamless transition, and he will continue to serve as a director on the Company's Board of Directors. Most recently, Reeves served as President, CEO and Director of Beach Bancorp.
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HSCS | Hot Stocks09:19 EDT HeartSciences announces issuance of CPT codes by AMA - Heart Test Laboratories reports that the American Medical Association, AMA, has issued new industry-first Category III Current Procedural Terminology codes for novel AI assistive algorithmic ECG risk assessment for cardiac dysfunction. These codes are expected to cover the AI cardiac dysfunction algorithm incorporated in the Company's MyoVista Wavelet ECG Cardiac Testing Device currently in development for FDA De Novo submission and clearance. The new CPT codes go into effect in the CPT codebook on January 1, 2023. "This is a major milestone for HeartSciences. The issuance of new CPT codes by the AMA acknowledges the importance of AI analysis of cardiac dysfunction using an ECG. It also further validates the commercial opportunity for the MyoVista," stated Andrew Simpson, Chief Executive Officer of HeartSciences. "One of the most significant needs in healthcare is the ability to detect cardiac dysfunction early. An AI-enabled ECG is a relatively low-cost, simple, and quick way to do that. Millions of ECG tests are performed every week and we believe adding detection of cardiac dysfunction to the ECG would make it a far more valuable heart screening tool."
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SAVE JBLU | Hot Stocks09:18 EDT Spirit Airlines stockholders approve merger agreement with JetBlue - Spirit Airlines (SAVE) announced that its stockholders approved the merger agreement with JetBlue Airways (JBLU). Based on the preliminary voting results provided by the independent inspector of election at the special meeting of stockholders held today, more than 50% of the outstanding shares of Spirit common stock voted in favor of the transaction. The final voting results of the special meeting, as tabulated by an independent inspector of elections, will be filed on a Form 8-K with the U.S. SEC. The completion of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals. Spirit and JetBlue expect to conclude the regulatory process and close the transaction no later than the first half of 2024. Barclays and Morgan Stanley & Co. are serving as financial advisors to Spirit, and Debevoise & Plimpton and Paul, Weiss, Rifkind, Wharton & Garrison are serving as legal advisors.
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RIOT | Hot Stocks09:16 EDT Riot Blockchain announces groundbreaking at 1 GW data center facility in Texas - Riot Blockchain announces that it has officially broken ground at the Company's 1 gigawatt expansion project in Corsicana, Navarro County, Texas. The first phase of the Corsicana Facility will consist of 400 megawatts, with self-mining and data center hosting operations expected to commence by the fourth quarter of 2023. The Corsicana Facility's total capacity of 1 GW has been approved by the Electric Reliability Council of Texas. The first phase of the Corsicana Facility's development is expected to consist of four 100 MW buildings utilizing immersion cooling technology similar to what is already in place at Riot's Rockdale Facility. The Company anticipates that 200 MW out of the initial total of 400 MW will be dedicated to the Company's self-mining business, with the balance reserved for expanding Riot's data center hosting business with large-scale institutional clients.
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GTBIF | Hot Stocks09:16 EDT Green Thumb to launch "RISE Express" dispensaries in Florida - Green Thumb Industries announced plans to expand its medical retail footprint in Florida through a lease agreement with Circle K. Starting in 2023, Green Thumb plans to launch its test and learn phase of the rollout with approximately ten "RISE Express" branded dispensaries adjacent to Circle K stores in various Florida locations. Through the exclusive agreement, Green Thumb can lease space from Circle K in Florida, where the retailer currently operates approximately 600 locations. The "RISE Express" stores will offer patients a selection of branded cannabis products including RYTHM premium flower, Dogwalkers pre-rolls, incredibles gummies and &Shine vapes. The products available at these retail stores will come from the Company's new 28-acre cultivation facility in Ocala that will be operational by the end of 2022. Green Thumb entered the Florida market in 2018 and currently owns and operates medical cannabis retail stores in Bonita Springs, Deerfield Beach, Hallandale Beach, Kendall, Oviedo, Pinellas Park and West Palm Beach. The Company also has an existing cultivation and processing facility in Homestead.
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RCI | Hot Stocks09:15 EDT Rogers Communications launches Technology Center of Excellence at NORCAT - Rogers Communications with NORCAT announced a five-year strategic relationship to accelerate technology adoption in the global mining industry. Through this collaboration, Rogers will establish the Rogers Technology Centre of Excellence at the NORCAT Underground Centre to bring innovative new solutions to life and increase efficiency, safety, and productivity in the global mining industry. "As part of our commitment to driving leading-edge innovation within mining, construction, and other industrial sectors, our collaboration with NORCAT and the launch of the Rogers Technology Centre of Excellence will foster unique opportunities to engage with likeminded organizations and emerging technology companies," said Tom Turner, President, Rogers Business. "With this important investment, we will enable Canadian and global customers and partners, to develop, validate and implement their industrial automation ideas right here in Canada." The Rogers Technology Centre of Excellence will harness the power of Rogers 5G through a dedicated Wireless Private Network and accelerate adoption of transformative new technologies. Rogers Wireless Private Networks deliver enhanced coverage, ultra-low latency, and critical connectivity, enabling clients using the NORCAT Underground Centre to develop, test, and demonstrate scalable technologies.
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ABT | Hot Stocks09:13 EDT Abbott says macro economic conditions 'remain challenging' - Says inflation remains an issue. Says international sales impacted by "transitory items." Comments taken from Q3 earnings conference call.
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WETF SOFI | Hot Stocks09:13 EDT WisdomTree announces collaboration with Stride, Galileo - WisdomTree Investments (WETF) announced its collaboration with Stride Bank and Galileo Financial Technologies, subsidiary of SoFi (SOFI) as key banking and payments partners for its blockchain-native digital wallet, WisdomTree Prime. WisdomTree Prime, as made available by WisdomTree Digital Movement, will provide users with access to retail payments capabilities including demand deposit accounts, money movement capabilities and Visa-branded debit cards. The partnership with Stride Bank will allow users to attach a traditional bank account with traditional payment services, including a Visa debit card, to digital activities supported by a separate, unaffiliated custodian bank. The WisdomTree Prime Visa debit card will initially be available as a virtual card that can be used with Apple Pay, Google Pay and Samsung Pay, with a physical debit card to be released shortly after.
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IBEX | Hot Stocks09:12 EDT Ibex to sponsor Execs In The Know event - ibex announced its sponsorship of the Customer Response Summit - Coronado, CA, an Execs In The Know event, October 24-26, 2022. ibex will also host an invitation-only dinner for CX leaders and industry influencers on October 24.
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APO | Hot Stocks09:11 EDT Intrado announces wearable 911 panic button - Intrado Corporation announced an innovative wearable safety device featuring a customizable panic button with unrivaled redundancy, precise location identification data, and detailed incident information. The badge-sized device is part of Intrado's Safety Suite Solution, an end-to-end incident management tool for K-12 schools, higher education institutions, and businesses of all types.
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DNAY | Hot Stocks09:10 EDT Telesis Bio, Cellibre announce collaboration on development of BioXp DBC - Telesis Bio and Cellibre announced initiation of work under a collaboration to optimize the development and validation of Telesis Bio's BioXp Digital-to-Biological Converter instrument for fully automated manufacturing of on-demand CRISPR-Cas9 guide RNA for genome editing. By integrating Telesis Bio's short oligonucleotide ligation assembly enzymatic DNA synthesis technology directly onto its recently released BioXp 9600 system, the BioXp DBC instrument empowers scientists with same-day design and build capabilities for their guide RNAs, and without the need to order custom reagents. The gRNA synthesis kit is the first of several BioXp DBC kits the company has planned. "We believe our SOLA EDS solution is the enabling technology for the Digital-to-Biological Converter, or DBC, and it starts with its integration on our recently released BioXp 9600 system," said Todd Nelson, PhD, CEO of Telesis Bio. "We look forward to working with the Cellibre team to validate and enhance our automated BioXp DBC solution for generating CRISPR-Cas9 guide RNA on demand."
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DNA ZY | Hot Stocks09:10 EDT Ginkgo Bioworks completes acquisition of Zymergen - Ginkgo Bioworks (DNA) and Zymergen (ZY) announced that Ginkgo has completed its previously announced acquisition of Zymergen. The acquisition is expected to significantly enhance Ginkgo's platform by integrating strong automation and software capabilities as well as a wealth of experience across diverse biological engineering approaches. Under the terms of the merger agreement entered into on July 24, Zymergen stockholders received, for each share of Zymergen common stock, 0.9179 shares of Ginkgo Class A common stock. Zymergen shares will no longer be traded on Nasdaq. Ginkgo Class A common stock will continue to trade on NYSE under the ticker symbol DNA.
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QLGN | Hot Stocks09:09 EDT Qualigen Therapeutics announces two posters on RAS-targeted inhibitor program - Qualigen Therapeutics announces the presentation of two posters detailing the Company's RAS-Targeted platform at the National Cancer Institute-sponsored Fourth RAS Initiative Symposium to be held October 17-19, 2022 at The Advanced Technology Research Facility of the National Cancer Institute in Frederick, Maryland. Poster highlights included: Title: "A novel pan-RAS inhibitor for Malignant Peripheral Nerve Sheath Tumors": Following screening to identify an initial candidate inhibitor of RAS oncoproteins for malignant peripheral nerve sheath tumors, investigators measured in vitro and in vivo activity against these tumors. The lead candidate, designated by investigators as RAS-F suppressed RAS signaling pathways and suppressed MPNST tumor growth in animal models. Title: "A Novel RAS Inhibitor for Pancreatic Cancer": Following screening to identify an initial candidate inhibitor against pancreatic cancer tumor growth, investigators analyzed in vitro and in vivo activity against these tumors. The lead candidate, designated RAS-F, suppressed RAS signaling pathways and pancreatic tumor cell growth in vitro. It also suppressed xenograft development of human and mouse RAS-driven pancreatic tumor cell lines and reduced the growth of pancreatic cancer patient-derived xenograft models. The study also showed that RAS-F enhanced the effects of immune checkpoint therapy in syngeneic tumor xenografts.
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VZ | Hot Stocks09:08 EDT Verizon Business to launch multi-session, multi-day events with BlueJeans Expo - Verizon Business introduced BlueJeans Expo, a virtual environment for enterprise event collaboration, education, engagement, and inspiration. By combining live and on-demand video, event management and content hosting into one powerful yet easy to manage platform, BlueJeans Expo helps organizations deliver fully customizable virtual experiences pre-, during and post-events. The BlueJeans Expo gives event hosts the ability to transform their virtual event site into a home base for attendees and sponsors to stay up to date and remain connected with the community. BlueJeans Expo also offers the ability to deliver networking opportunities with an intuitive directory that supports simple profile creation, quick filtering, and role-based chat.
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NOAH | Hot Stocks09:08 EDT Noah Holdings provides update on voluntary conversion of listing status - Noah Holdings provides an update on the Company's proposed voluntary conversion of its secondary listing status on The Main Board of The Stock Exchange of Hong Kong to dual-primary listing. Application for Voluntary Conversion to Dual Primary Listing. The Company has applied to the Hong Kong Stock Exchange with respect to the Primary Conversion. On October 19, 2022, the Company received the acknowledgement from the Hong Kong Stock Exchange in respect of the application of Primary Conversion. The Effective Date on which the Primary Conversion will become effective is expected to be on or before December 31, 2022. Upon the Effective Date, the Company will be dual primary listed on the Hong Kong Stock Exchange and the New York Stock Exchange. Proposed Grant of Issuance Mandate and Repurchase Mandate. Ordinary resolutions will be proposed at the annual general meeting of the Company to be convened on or around December 6 to approve the grant of an issuance mandate to the directors of the Company to allot, issue or deal with Class A ordinary shares of the share capital of the Company with a par value of 00.05c each, or securities convertible into Shares and/or American depositary shares, not exceeding 20% of the total number of issued Shares as of the date of the First GM; and a repurchase mandate to the Directors to repurchase Shares not exceeding 10% of the total number of issued Shares and/or ADSs as of the date of the First GM.
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BRLT | Hot Stocks09:07 EDT Brilliant Earth launches Cocktail Ring Collection - Brilliant Earth Group announced the launch of its Cocktail Ring Collection today. The collection of twenty-one rings is made with one-of-a-kind, limited-edition, natural and lab grown gemstones in striking colors set in recycled precious metals. Styles from Brilliant Earth's Cocktail Ring collection range from $2,000 to $8,000 and will be available to purchase exclusively at all of Brilliant Earth's twenty-two showroom.
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MARK | Hot Stocks09:06 EDT Remark Holdings appoints DeMeakey Williams, Sr. as Chief Revenue Officer - Remark Holdings announced that DeMeakey Williams, Sr. joins the organization as Chief Revenue Officer, where he will oversee Remark's revenue generation, brand awareness, go-to-market strategies, global communications program, demand creation and customer advocacy. DeMeakey Williams, Sr. brings more than 20 years of marketing, sales and innovation experience from established publicly traded companies and high-growth start-up brands to Remark. Before Remark, DeMeakey held the position of Vice President of America's Sales at Pangiam, a security technology firm, taking responsibility for their corporate sales and business development within the Western Hemisphere.
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BIOR | Hot Stocks09:06 EDT Biora Therapeutics shares preclinical data on oral delivery of biologics - Biora Therapeutics shared a poster presented at the Parenteral Drug Association, PDA, Universe of Pre-Filled Syringes and Injection Devices Conference. The meeting in Palm Springs, California, October 18-19, 2022 explored the latest technological advances with drug delivery devices. The company presented a poster titled "Development of a submucosal injection device for an oral biotherapeutic delivery system," presenting previous preclinical studies in which researchers determined animal models to use for evaluation of device performance and pharmacokinetics. They then evaluated device performance in a canine model using oral administration of the OBDS device and assessed pharmacokinetics in a swine model using endoscopic administration of the device. The company successfully demonstrated greater than or equal to 83% deployment accuracy in the canine small intestine, showing consistent deployment time post gastric emptying without early deployment in the stomach. Functionality of the endoscopic delivery method in swine was also demonstrated, with all devices successfully released in the small intestine to transit naturally and autonomously deploy in the small intestine. Eight animals showed detectable drug levels of a variant of adalimumab with an oral bioavailability average of 25%, excluding one animal with a late deployment at 72 hours post-dose.
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TETE | Hot Stocks09:05 EDT Super Apps enters merger agreement with Technology & Telecommunication - Super Apps Holdings and Technology & Telecommunication Acquisition Corporation announced that they have entered into a definitive agreement and plan of merger for a business combination that will result in Super Apps becoming a publicly listed company. Upon closing of the transaction, the combined company will be named TETE Technologies Inc. and is expected to remain listed on the Nasdaq Stock Market under the ticker symbol, "TETE". The transaction reflects an estimated pro forma enterprise value for the combined company of approximately $1.1 billion. Super Apps entered into a share sale agreement with MobilityOne, a wholly-owned subsidiary of AIM quoted MobilityOne Limited, pursuant to which Super Apps agreed to purchase 60% of MobilityOne's ownership interest in OneShop Retail in a transaction which will close prior to the consummation of the Business Combination. MobilityOne has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution channels such as electronic data capture terminals, short messaging services, automated teller machines and Internet banking services. MobilityOne currently has ownership of the intellectual property that OneShop Retail uses in its operations and, in connection with the closing of the Business Combination, MobilityOne will grant OneShop Retail a long term license for use of such intellectual property. MobilityOne's technology platform is flexible, scalable and has been designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services. Super Apps and MYISCO, entered into a collaboration agreement, which shall become effective upon closing of the Business Combination, allowing OneShop Retail, as the authorized bill payment collection and credit lending agency of ANGKASA, to operate its payment collection system through ANGKASA's authorized dealers for the collection and remission of any payment of bills via cash payment, credit card, debit card or cheque. ANGKASA currently facilitates the monthly salary disbursements of its members under its salary deduction scheme. Based upon the Company's anticipated collaboration with MYISCO and other potential collaborations, the combined company projects revenue of approximately $348 Million for the financial year ending December 31, 2023. The proceeds from this transaction will enable Super Apps to build out its technology infrastructure to support demand from blue chip customers in the fast-growing e-commerce payment solutions market and enhance revenue. As part of the deal, Super Apps will retain its experienced management team, led by CEO Loo See Yuen, while gaining new board members, and Loke Chow Wing, from the TETE team. Pursuant to the Merger Agreement, Super Apps will merge with TETE Technologies Sdn Bhd, a Malaysian private limited company and wholly owned subsidiary of TETE, with Super Apps surviving and TETE acquiring 100% of the equity securities of Super Apps. In exchange for their equity securities, the shareholders of Super Apps will receive an aggregate number of ordinary shares of TETE with an aggregate value equal to: one billion one hundred million U.S. Dollars , minus any Closing Net Indebtedness of which $235,000,000 will be paid at the closing of the Business Combination with the remaining $865,000,000 subject to the earn-out provisions set forth in the Merger Agreement.The Business Combination has been approved by the boards of directors of each of TETE and Super Apps. The Business Combination will require the approval of the shareholders of TETE and Super Apps and is subject to other customary closing conditions, including a proxy statement being filed with and cleared by the U.S. Securities and Exchange Commission. The transaction is expected to close in the first half of 2023.
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VERI | Hot Stocks09:04 EDT Kyro Digital announces new collaboration with Veritone - Kyro Digital, a platform for Web3 Builders, announced a new collaboration with Veritone. The partnership will make a fast, easy and secure experience for Veritone clients, including individual and enterprise rights holders, to use the Kyro Platform, Builder and API to quickly create and deploy powerful new Web3 business applications that accelerate today's blockchain transformation. as part of the collaboration, Kyro is launching a Marketplace with Olympic athlete Cody Miller at CodyMillerNFT.com.
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UBER | Hot Stocks09:04 EDT Uber launches advertising division, unveils Uber Journey Ads - Uber has formally launched its advertising division and unveiled Uber Journey Ads, a way for brands to connect with consumers throughout the entire ride process. Journey Ads are the latest initiative from a dedicated team formed at Uber this year under advertising veteran Mark Grether. Leveraging Uber's first-party data and insights across its mobility and delivery businesses presents companies with new surfaces and closed-loop attribution to reach Uber's audience of 122M monthly active users. With the addition of Journey Ads, Uber has created an engaging model that enables brands to share strategic campaigns across Uber's mobility and delivery businesses, while connecting with consumers in brand-safe and captivating ways. Journey Ads place relevant brand content and offers in front of purchase-minded audiences as they transact throughout their journey - while waiting for their driver and during their trip.
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RYCEY | Hot Stocks09:03 EDT Rolls-Royce signs MOU with Alder Fuels - Rolls-Royce has signed a Memorandum of Understanding with Alder Fuels, a clean tech developer and greencrude producer, to further test Sustainable Aviation Fuel as it makes the critical next step on its journey to commercial scalability. The SAF, which has been produced based on Alder Fuels' proprietary greencrude technology, is being readied for global rollout as a drop-in replacement to petroleum-based jet fuel and will be a critical tool for decarbonising the skies. The testing, which will include flight tests on a Rolls-Royce Pearl engine, will evaluate the energy efficiency, emissions criteria, and low-carbon credentials of the SAF produced from Alder Greencrude and is another testament to Rolls-Royce's ambition to play a fundamental role in enabling the sectors in which it operates achieve net zero carbon by 2050.
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PLUG | Hot Stocks09:01 EDT Plug Power, FreezPak logistics expand agreement to supply fuel cells - Plug Power announced an agreement with FreezPak Logistics to provide fuel cells and hydrogen storage and fueling infrastructure to nine additional sites and nearly 400 lift trucks. The multi-site agreement makes FreezPak Logistics a pedestal customer. The agreement includes providing hydrogen infrastructure and fuel cells for lift trucks at four existing FreezPak Logistics sites, along with five additional sites scheduled for 2023. In total, Plug will support 11 customer sites across the U.S, including the three sites already in operation. m"FreezPak Logistics has been a longstanding believer in Plug's innovative technology and hydrogen fuel cells," Andy Marsh, Plug CEO, said. "We are thrilled to expand our partnership, which further improves the American supply chain and decreases carbon emissions."
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DTE | Hot Stocks08:59 EDT DTE Energy announces 7-Eleven's enrollment in MIGreenPower program - DTE Energy and 7-Eleven announced 7-Eleven's enrollment in MIGreenPower, DTE's voluntary renewable energy program. The enrollment will enable 7-Eleven to achieve 100% renewable energy for all 160 of its southeast Michigan locations for 20 years beginning in 2025. 7-Eleven's 32,000-megawatt hour clean energy commitment has the environmental benefit equivalent to taking nearly 3,000 gasoline-powered passenger cars off the road each year.
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ESTA | Hot Stocks08:59 EDT Establishment Labs sinks 18% after Hindenburg short report
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INSM | Hot Stocks08:57 EDT Insmed to sell 13.75M shares of its common stock - Insmed announced that it has agreed to sell 13,750,000 shares of its common stock at a price per share of $20.00 in an underwritten offering. Insmed anticipates gross proceeds from the Offering to be approximately $275M before deducting underwriting discounts and commissions and other offering expenses. The Offering is expected to close on October 21, subject to customary closing conditions. J.P. Morgan Securities and SVB Securities are acting as joint book-running managers for the Offering. Insmed intends to use net proceeds from the Term Loan, the Royalty Financing and the Offering to fund activities related to the commercialization of ARIKAYCE, potential commercial launch of brensocatib, if approved, and further research and development of ARIKAYCE, brensocatib, TPIP, its translational medicine efforts or any of its product candidates, and for other general corporate purposes, including business expansion activities.
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INSM | Hot Stocks08:56 EDT Insmed announces three strategic financings totaling $775M - Insmed announced three strategic financings resulting in aggregate gross proceeds of $775M. Proceeds from the transactions will strengthen Insmed's financial position, which will place the Company in a position to deliver clinical data from each of its four pillars. Insmed has entered into a $350M senior secured term loan agreement with funds managed by Pharmakon Advisors, a leading investor in non-dilutive debt for the life sciences industry and the investment manager of the BioPharma Credit funds. The five-year Term Loan matures in October 2027. The Term Loan bears interest at a rate based upon the secured overnight financing rate, or SOFR, subject to a SOFR floor of 2.5%, in addition to a margin of 7.75% per annum. The Company has also entered into a $150M secured royalty financing agreement with OrbiMed, a leading investor in the healthcare industry. Under the agreement, OrbiMed will be entitled to receive royalties of 4% on global net sales of ARIKAYCE until September 1, 2025, and royalties of 4.5% on ARIKAYCE global net sales from September 1, 2025, as well as royalties of 0.75% on brensocatib global net sales. The total royalty payable by Insmed to OrbiMed is capped at 1.8x of the purchase price up to a maximum of 1.9x of the purchase price under certain conditions. The Term Loan and the Royalty Financing will be secured by an all-assets collateral package that is governed by the terms of an intercreditor agreement entered into among BioPharma Credit, as collateral agent, OrbiMed Royalty & Credit Opportunities IV, LP and Insmed. Transactions for both the Term Loan and Royalty Financing closed on October 19. SVB Securities acted as an exclusive financial advisor to Insmed on the Term Loan and Royalty Financing. Covington & Burling acted as counsel to Insmed on the Term Loan and Royalty Financing. Akin Gump Strauss Hauer & Feld acted as counsel to Pharmakon Advisors, LP on the Term Loan. Morrison & Foerster acted as counsel to OrbiMed on the Royalty Financing.
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BKR NEM | Hot Stocks08:52 EDT Baker Hughes appoints Nancy Buese as CFO - Baker Hughes (BKR) has announced Nancy Buese as CFO effective November 2, 2022. Buese brings more than 30 years of financial and leadership experience to the role, previously serving as EVP & CFO of global mining company Newmont Corporation (NEM) from 2016 until earlier this year. With Buese's appointment, Brian Worrell, CFO of Baker Hughes, will move to a strategic advisor role on November 2 and will depart the company in the second quarter of 2023.
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CEO | Hot Stocks08:51 EDT Cnooc says Baodao 21-1 gas field passes Chinese governmental review - Cnooc announced that the proved gas in-place of Baodao 21-1 Gas Field has successfully passed the Chinese governmental review and filing. Baodao 21-1 gas field is located in Baodao Sag, Qiongdongnan Basin, Western South China Sea. The water depth ranges from 660 to 1,570 meters. The main gas-bearing layer is the Paleogene Lingshui formation and the discovery is condensate gas reservoirs. The discovery well Baodao 21-1-1 completed at hole depth of 5,188 meters, encountering 113 meters of pay zone. The well is tested to produce an average of 587,000 cubic metres of natural gas per day. Chinese governmental bodies reviewed the discovery and certified the proven in-place of natural gas and condensate oil at over 50 billion cubic metres and 3 million cubic metres respectively.Baodao 21-1 gas-bearing structure will host the first deep-water deep-stratum large gas field in the South China Sea, realising the biggest discovery in more than half a century in Songnan-Baodao Sag. It will lay a solid foundation for the construction of a gas production base of trillion cubic meters resources in the South China Sea. The review and filing once again confirmed the exploration potential of this structure.
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TRQ RIO | Hot Stocks08:51 EDT Glass Lewis recommends Turquoise Hill shareholders vote for Rio Tinto deal - Turquoise Hill (TRQ) announced that proxy advisor Glass Lewis has recommended that the company's shareholders vote for the previously announced proposed plan of arrangement pursuant to which, among other things and subject to the satisfaction or waiver of all applicable conditions precedent, Rio Tinto (RIO) would acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates do not currently own for C$43.00 per share in cash. The Glass Lewis report supports the unanimous recommendation of the special committee of independent members of Turquoise Hill's board of directors that Turquoise Hill's minority shareholder's vote for the resolution approving the arrangement .
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PG | Hot Stocks08:49 EDT P&G to offset some cost headwinds with price increases, productivity savings
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PG | Hot Stocks08:45 EDT Procter & Gamble in a 'rough patch, not a reason to reduce investment'
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NAOV | Hot Stocks08:43 EDT NanoVibronix: Nasdaq grants continued listing subject to $1.00 bid requirement - NanoVibronix announced that on October 17, a Nasdaq Hearings Panel granted the Company's request for continued listing on The Nasdaq Capital Market, subject to the Company's satisfaction of certain conditions, including the provision of an update to the Panel on December 15, , regarding the Company's efforts to evidence compliance with the $1.00 bid price requirement for continued listing on Nasdaq. Following the submission of such update, the Panel will consider the Company's request for a further extension. The Panel has the authority to grant the Company an extension through February 23, 2023, in accordance with the Nasdaq Listing Rules. As set forth in the preliminary proxy statement filed by the Company with the Securities and Exchange Commission on October 13 at the annual meeting to be held on December 15 the Company will seek shareholder approval for the implementation of a reverse stock split if necessary and at the Board's discretion to regain compliance with Nasdaq's price requirement.
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PG | Hot Stocks08:41 EDT Procter & Gamble expects more volatility in costs, currencies, consumer dynamics - Comments taken from Q1 earnings conference call.
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MXL | Hot Stocks08:39 EDT MaxLinear, SoftAtHome team on prpl LCM solution for home gateways - MaxLinear announced that it has teamed with SoftAtHome to showcase the prpl Life Cycle Management at the prpl Foundation 2022 prpl Summit. The open-source LCM agent software developed for prplOS will be shown running on the MaxLinear AnyWAN Open Service Platform connected to SoftAtHome's LCM Backend solution.The MaxLinear and SoftAtHome solution demonstrates a new choice for operators that provides simplicity of development and faster time to market for home gateways by remotely downloading and managing the same services for different hardware platforms through the same backend server. The LCM uses containers and prplOS high-level APIs, including the mechanisms defined by the Broadband Forum TR-369 standard.
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SPWH | Hot Stocks08:37 EDT Sportsman's Warehouse completes 185 Maintain the Terrain events - Sportsman's Warehouse completed 185 nationwide Maintain the Terrain events with employee and community volunteer participants from across the U.S. This conservation and public land restoration project yielded the following results: Over 1,000 volunteers in 122 locations participated; A total of 185 individual events occurred in the communities they serve; Participants removed over 80 tons of trash and debris; and The events helped to preserve the natural beauty of the outdoors.
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OG | Hot Stocks08:37 EDT Onion Global generated RMB12M in GMV within the first three days of promotion - Onion Global announced that it generated over RMB12M in GMV within the first three days of its 2022 Luca Brand Seasonal Promotion. The sales promotion offered discount coupons for quality products from premium brands, creating a fun, engaging, and affordable shopping experience tailored to the diverse demands of younger consumers. During the promotion, Onion Global used live games to engage with consumers and build awareness of the LUCA brands. Onion Global's platform O'Mall subsidized popular and trending products from LUCA brands through a variety of preferential discounts covering both international and domestic orders during the period. The eight-day seasonal promotion, under the theme "Luca Brand New Players", started on October 12 and continued until October 19.
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UBX | Hot Stocks08:36 EDT Unity Biotechnology announces 1-for-10 reverse stock split - UNITY Biotechnology announced that its Board of Directors has approved a 1-for-10 reverse stock split of UNITY's common stock. The reverse stock split will become effective at 5:00 PM Eastern Time, October 19, 2022, after close of trading on the Nasdaq Global Select Market. UNITY's common stock is expected to commence trading on a split-adjusted basis when the markets open on October 20, 2022 under the existing trading symbol "UBX." The reverse stock split is primarily intended to bring the Company into compliance with the minimum required closing bid price for continued listing on the Nasdaq Global Select Market. The reverse stock split was approved by UNITY's stockholders at a special meeting of stockholders held on October 18, 2022. The stockholders of the Company approved a proposal to authorize the Company's Board of Directors to amend the Company's amended and restated certificate of incorporation to effect a reverse stock split of the Company's common stock, whereby each outstanding 6, 7, 8, 9, 10, 11 or 12 shares would be combined, converted and changed into one share of the Company's common stock.
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MIR ARAY | Hot Stocks08:36 EDT Sun Nuclear partners with Accuray to develop new Quality Management solutions - Sun Nuclear, a wholly-owned subsidiary of Mirion Technologies (MIR) ("Mirion"), announced that it is developing new Quality Management solutions, in collaboration with Accuray (ARAY), for the company's Radixact System with Synchrony, which enables real-time, personalized adaptive radiation therapy. Initial innovations from the collaboration will be featured in the Sun Nuclear booth at the ASTRO Annual Meeting, October 23-25, 2022, in San Antonio, Texas.
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VSEC | Hot Stocks08:36 EDT VSE Corp. enters four distribution agreements worth $350M - VSE Corp announced that its VSE Aviation segment has entered into four distribution agreements with various global business and general aviation original equipment manufacturers, or OEM, for a combined value of approximately $350M. Each of the agreements are anticipated to commence in early 2023, with contract terms ranging between two and 15 years in duration.
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BMI | Hot Stocks08:35 EDT Badger Meter says demand environment remains robust - Bockhorst added, "The demand environment remains robust as customers continue to adopt our digital smart water solutions that deliver efficiency, resiliency, and sustainability to address the variety of underlying secular challenges the water industry faces. Our success in selling our broad 'choice-matters' water quality and quantity offerings continue to illustrate the benefits of our differentiated, flexible and comprehensive smart water AMI solutions. This commercial excellence, combined with nimble execution have demonstrated our ability to navigate persistent macro challenges and drive outperformance. Our strong order pace and bid funnel, combined with the value-based pricing actions we have taken throughout this unprecedented inflationary environment, are supportive of revenue growth and margin expansion throughout economic cycles. Robust cash flow and ample credit availability provide us with the financial flexibility to execute our capital allocation priorities, including the recent increase in the annual dividend, and continued investments in growth. Badger Meter is well-positioned to continue its track record of profitable growth enhanced by our innovative offerings, end market resiliency and differentiated execution. We believe this combination, along with our durable business model aligned with our vision to preserve and protect the world's most precious resource, will generate positive shareholder value over the long term."
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MDT | Hot Stocks08:34 EDT Medtronic announces three significant approvals for its Hugo RAS - Medtronic has announced three significant global market-entrance and indication expansion approvals for its Hugo robotic-assisted surgery, or RAS, system. The approvals include: Conformite Europeenne Mark clearance for general surgery indication; Health Canada licence for general laparoscopic surgery indication; and Ministry of Health, Labor, and Welfare approval for urologic surgical and gynecologic laparoscopic indications in Japan. The new system approvals and indications set the stage for significant access across Europe, North America, and Asia - extending the benefits of minimally invasive surgery to new global audiences. As a form of minimally invasive surgery, robotic-assisted procedures offer patients fewer complications, shorter hospital stays, and faster return to normal activities.2-4,
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SVRE | Hot Stocks08:34 EDT SaverOne 2014 signs firs MOU with truck manufacturer, Iveco - SaverOne 2014 announced that in line with its long-term growth strategy, it has signed a memorandum of understanding with truck manufacturer, Iveco, for integrating its solution within Iveco's trucks, to prevent driver distraction from cellphone use. The parties aim to sign a formal agreement before year-end. Iveco is a global vehicle manufacturer headquartered in Italy, which is focused on light, medium and heavy commercial vehicles. It sells approximately 150,000 vehicles globally on an annual basis, via its five thousand sales and service outlets across over 160 countries. During 2023, under the MOU, Iveco and SaverOne will cooperate to integrate SaverOne's protection solution into Iveco trucks during the manufacturing process. Starting in 2024, Iveco is expected to offer its new trucks, equipped with SaverOne's driver distraction protection technology, to its global customer base.
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INVE | Hot Stocks08:34 EDT Identiv appoints Angelini, Kuntz to board of directors - Identiv (INVE) announced the appointment of Laura Angelini and Richard Kuntz, MD, MSc. to its Board of Directors. Both Directors bring medical industry expertise to the Board. Angelini was appointed General Manager, Global Business Unit, Renal Care at Baxter Healthcare International in 2016. Kuntz joins the board following his most recent role as Senior Vice President and Chief Medical and Scientific Officer with Medtronic (MDT)
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SYSX | Hot Stocks08:32 EDT Sysorex announces closing of $500,000 private placement - Sysorex announced that it has entered into a securities purchase agreement with accredited investors to purchase approximately $500,000 of its shares of common stock and warrants to purchase common stock in a private placement transaction.
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PDS | Hot Stocks08:32 EDT Precision Drilling announces four Kuwait contract awards - Precision Drilling announces that it was recently awarded four contracts in Kuwait, each with a five year term and an optional one year renewal. The contract awards are for our AC Super Triple 3000 HP rigs and increase our active rig count in Kuwait from three rigs to five rigs by the middle of 2023. In addition, it recently signed its third drilling rig in the Kingdom of Saudi Arabia to a five year contract extension, following two earlier five year contract signings in the second quarter of this year. "Precision's success in earning these contract awards is a result of our team's dedication and commitment to our High Performance, High Value strategy and the outstanding service we have delivered to customers in the Middle East region. Furthermore, the recent contract awards allow us to leverage our scale in the region and generate steady, reliable cash flow, creating value for our shareholders and fulfilling one of Precision's 2022 strategic priorities to maximize our operational leverage. I would like to congratulate our team for securing these contracts and look forward to continuing the excellent service our customers can expect from Precision," commented Kevin Neveu, Precision's President and CEO.
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NBIX | Hot Stocks08:32 EDT Neurocrine announces data from patients on prescribed benztropine - Neurocrine Biosciences announced data on the real-world comorbidities, polypharmacy, and treatment patterns of patients on newly prescribed benztropine who were also being treated with antipsychotic medications. This research will be presented at the 2022 American Psychiatric Nurses Association, or APNA, Annual Conference being held October 19-22 both virtually and in Long Beach, CA. The new findings are from a retrospective 24-month observational study of claims between January 1, 2017, and March 30, 2020. Benztropine is an anticholinergic medication approved as an adjunct for treatment of all forms of parkinsonism, including drug-induced parkinsonism that causes movement problems similar to those seen in Parkinson's disease, such as tremors, slow movement, and stiffness. Benztropine can also be used to control other antipsychotic-induced movement disorders, except for tardive dyskinesia, or TD. The analysis found that the patient population, who received at least one new benztropine prescription during the study, often had multiple comorbidities, substantial polypharmacy, and mild, moderate, or severe anticholinergic burden associated with the medications patients were taking prior to initiation of benztropine.
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RILY | Hot Stocks08:32 EDT B. Riley Principal Investments acquires Targus for $250M on EV basis - B. Riley Financial and Targus Cayman HoldCo Limited announced that B. Riley Principal Investments, LLC has acquired Targus, a multinational company that designs, manufactures, and sells consumer and enterprise productivity products. The Targus product line includes laptop and tablet cases, backpacks, universal docking stations, and computer accessories. B. Riley has acquired Targus in a transaction valued at approximately $250M on an enterprise value basis, which represents a multiple of approximately 5.2x Adjusted EBITDA for the trailing twelve-month period ending June 2022. Targus generated revenues of approximately $415M for the same trailing twelve-month period. Financing for the transaction included approximately $85.5M of bank financing, and $114M of seller financing and B. Riley bonds. In connection with the acquisition, Targus CEO Mikel Williams has stepped down from B. Riley Financial's board of directors and will continue to lead Targus as a portfolio company of B. Riley Principal Investments.
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MRNA | Hot Stocks08:32 EDT Moderna announces clinical data on mRNA-1273.214 bivalent booster - Moderna announced new clinical data on its bivalent Omicron-containing booster, mRNA-1273.214. Ninety days after administration as a fourth booster dose in previously vaccinated and boosted participants, a 50 microgram booster dose of mRNA-1273.214 elicited a superior neutralizing antibody response against Omicron BA.1 when compared to a 50 microgram booster dose of mRNA-1273 in all participants regardless of prior infection. Superior performance against Omicron BA.1 was also durable, with higher antibody titers sustained through three months. In addition, mRNA-1273.214 demonstrated significantly higher neutralizing antibody responses against Omicron BA.4/BA.5 compared to mRNA-1273 28 days after administration, as previously reported. Potent responses were also seen against Omicron BA.2.75 28 days after administration, suggesting that the bivalent booster elicits broad cross-neutralization against Omicron variants. Observed side effects of mRNA-1273.214 were similar or less severe than those of either a second or third dose of the original vaccine. Additionally, no new safety concerns were identified in the three-month follow-up. The complete data set will be presented during a breakout session on October 20, 2022 at ID Week. In addition, data will be submitted for peer-reviewed publication and shared with regulators around the world. The Company expects interim safety and immunogenicity results of its Omicron BA.4/BA.5-targeting bivalent vaccine, mRNA-1273.222, to become available later this year. Data will be generated from a clinical study designed in accordance with regulatory guidance for bivalent booster vaccines against COVID-19.
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GNLN | Hot Stocks08:29 EDT Greenlane launches Groove brand - Greenlane Holdings announced the launch of Groove, the company's newest addition to its family of brands. Groove offers simple, functional, and reliable ancillary cannabis products at an affordable price point, filling a gap in the marketplace for high-quality, value-driven essential items. The addition of Groove to Greenlane's family of brands is part of the company's strategy to accelerate growth and profitability. Designed for everyday use, Groove products are developed and vetted by industry experts to ensure they meet both quality and competitive price standards. Included in the Groove product line are glass and silicone pipes, dab pens, vaporizer batteries, grinders, butane torches, bubblers, and rigs, along with a roadmap of innovative items in the pipeline.
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SOBR | Hot Stocks08:28 EDT SOBR Safe says commercial construction company implementing SOBRcheck - SOBR Safe announced that a prominent west coast commercial construction company is implementing SOBRcheck as the new front line alcohol screening solution for its more than 400 employees across multiple locations. The construction company is an established customer of SOBRsafe distributor Butterfield Onsite Drug Testing, and its conversion to SOBRsafe's advanced safety technology validates the Company's sales strategy.
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SAR | Hot Stocks08:24 EDT Saratoga Investment announces offering of unsecured notes - Saratoga Investment Corp. announced the commencement of a registered public offering of unsecured notes. The Company also announced that it has received an investment grade rating of "BBB+" from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
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PRPH | Hot Stocks08:24 EDT ProPhase Labs announces collaboration with G42 Healthcare - ProPhase Labs announced that its wholly-owned subsidiary, ProPhase Precision Medicine, has signed a Memorandum Of Understanding, MOU, with G42 Healthcare to explore several collaborative opportunities including, but not limited to, genomic sequencing, artificial intelligence, sharing of genomic data insights, and obtaining certain advanced certifications. ProPhase and G42 Healthcare have also entered into an initial agreement with the goal of significantly synergizing the companies' genomic sequencing capabilities to support further development and globalization of their healthcare offerings. The areas of potential collaboration are intended to enable G42 Healthcare to acquire consumer-facing capabilities in providing patient-specific data, supporting gene therapy programs, and developing personalized medical treatment and therapies. "G42 Healthcare is an enabler of the world's largest and most comprehensive population genomics initiative - the Emirati Genome Program, which aims to move the traditional ecosystem from sick care to preventive healthcare for UAE's citizens, making G42 Healthcare an ideal strategic relationship for ProPhase as we look to bolster our next generation sequencing capabilities and build our new state-of-the-art genomic sequencing facility," commented Ted Karkus, ProPhase Lab's Chief Executive Officer. "The goal of these initiatives is to advance and diversify our genomic sequencing capabilities while improving operational efficiencies. We expect to realize cost savings through these objectives, which we will then pass on to our customers in an effort to accelerate sales growth."
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MRVI | Hot Stocks08:22 EDT Maravai Lifesciences temporarily reinstates Hull as CEO amid pending litigation - Executive Chairman and former CEO of Maravai LifeSciences Carl Hull has been reinstated as CEO of the company on an interim basis. Three subsidiaries of Danaher Corporation, two of which previously employed recently-appointed Maravai CEO William "Trey" Martin, III, have filed a lawsuit against Martin and Maravai in the Delaware Court of Chancery alleging that Martin is in breach of a noncompetition agreement. On October 18, 2022, the Court issued a temporary restraining order against Martin prohibiting him from working for Maravai pending a preliminary injunction hearing that is expected to occur later this year. "We have complete confidence in Trey and are appalled that Danaher would seek to leverage a noncompetition agreement to prevent Trey from advancing his career... We look forward to resolving this matter favorably and swiftly, so that Trey can continue leading Maravai through its next stages of growth," said Carl Hull, Executive Chairman and Interim CEO of Maravai. Martin has been placed on paid leave pending the outcome of this matter.
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KTRA | Hot Stocks08:21 EDT Kintara pauses REM-001 program in CMBC to conserve funds for VAL-083 - Kintara Therapeutics announced that the REM-001 program in Cutaneous Metastatic Breast Cancer was paused to conserve cash which will be used to support the funding of the company's ongoing international registrational study for VAL-083 in glioblastoma. By pausing the REM-001 program, the company expects to save approximately $3M through 2023. "Unfortunately, we decided to pause our REM-001 program at this time. CMBC patients and treating physicians have little or no treatment options for this underserved disease area. We will continue to explore ways to restart REM-001, including use of grants from applications currently under review to support the funding of the planned 15-patient CMBC study. Although this was a difficult decision, we believe saving approximately $3.0 million through calendar year 2023 is prudent given the current capital market conditions," stated Robert Hoffman, President and CEO of Kintara. "We continue to look forward to announcing top-line data for VAL-083 in GBM from the international registrational GBM AGILE study around the end of calendar year 2023."
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LMPX | Hot Stocks08:21 EDT LMP Automotive signs $15.8M agreement to sell New York dealership - LMP Automotive Holdings announced it has closed on the sale of its Chrysler Jeep Dodge Ram Dealership in White Plains, New York.
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STEP | Hot Stocks08:20 EDT Stepstone Real Estate adds Uzmez as Managing Director of business development - StepStone Real Estate, the real estate arm of private markets investment firm StepStone, announced that Yasmine Uzmez has joined the firm as a Managing Director on its business development team. Uzmez will be based in StepStone's New York office. Uzmez has more than 18 years' experience in real estate and has held senior positions at real estate private placement firms Park Madison Partners and Shelter Rock Capital Advisors.
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GCT | Hot Stocks08:20 EDT GigaCloud launches private domain feature on GigaCloud Marketplace - GigaCloud Technology announced that the Company unveiled its new private domain feature for sellers on its B2B GigaCloud Marketplace on October 13, 2022. Users of GigaCloud Marketplace can now to share their products with existing or potential customers via a personal GigaCloud web-hosted platform. This private domain is designed to provide marketplace sellers the flexibility of sharing all their listings available on the GigaCloud Marketplace without customers viewing other supplier products.
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INVA | Hot Stocks08:19 EDT Innoviva's subsidiary presents efficacy, safety data from Phase 3 ATTACK trial - Entasis Therapeutics, a wholly owned subsidiary of Innoviva, announced the presentation of additional safety and efficacy data from the Company's pivotal Phase 3 ATTACK trial. The study results will be presented at IDWeek 2022, the annual meeting of the Infectious Disease Society of America held October 19-23, 2022 in Washington, D.C. Oral Presentations: An oral presentation entitled Microbiologic and clinical outcome concordance in the global phase 3 ATTACK trial: sulbactam-durlobactam versus colistin therapy in patients with Acinetobacter baumannii-calcoaceticus complex infections. Results of the study showed non-inferiority in 28-day all-cause mortality and overall trends favoring SUL-DUR, such as higher clinical cure rate at Test of Cure and greater microbiologic favorable response at Test of Cure. The study showed that treatment with SUL-DUR demonstrated lower mortality, higher clinical cure rates, and greater microbiologically favorable outcomes than colistin in patients with carbapenem-resistant ABC infections. The second oral presentation entitled Efficacy of sulbactam-durlobactam versus colistin in patients with extensively drug-resistant and pan-drug resistant Acinetobacter baumannii-calcoaceticus complex infections. Results showed that ABC isolates from patients in ATTACK were highly antibiotic-resistant, but greater than95% susceptible to SUL-DUR. Treatment with SUL-DUR demonstrated lower mortality, higher clinical cure rates, and greater microbiologically favorable outcomes than colistin in patients with XDR or PDR ABC infections. In global surveillance studies, 100% of PDR ABC isolates were susceptible to SUL-DUR. The third oral presentation titled Population pharmacokinetic, pharmacokinetic/pharmacodynamic attainment, and clinical pharmacokinetic/pharmacodynamic analyses for sulbactam-durlobactam to support dose selection for the treatment of Acinetobacter baumannii calcoaceticus complex infections. This study evaluated PPK in 373 subjects, including 110 patients who received SUL-DUR and underwent PK sampling in the pivotal Phase 3 ATTACK trial. Investigators concluded that simulated plasma and ELF exposures yielded greater than90% probability of target attainment, which when combined with the favorable efficacy and safety findings from ATTACK, support a dose of 1.0 g sulbactam/1.0 g durlobactam via a 3-hour infusion, every 6 hours in patients with normal renal function and renal function-based dose adjustments.
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IOAC | Hot Stocks08:19 EDT Zoomcar announces $10M investment in connection with merger - As previously announced last week, Zoomcar and Innovative International Acquisition Corp. entered into a definitive merger agreement that will result in Zoomcar becoming a publicly listed company. The transaction values the combined company at an implied pro forma enterprise value of approximately $456M. Upon closing, the Combined Company will be renamed Zoomcar Holdings, Inc. and expects to list its common stock on Nasdaq. In addition and simultaneously with the execution of the Merger Agreement on October 13, 2022, Ananda Small Business Trust, a Nevada Trust, an affiliate of Innovative's Sponsor, Innovative International Sponsor I LLC, invested an aggregate of $10 million in Zoomcar in exchange for a convertible promissory note issued by Zoomcar to Ananda Trust. Under the terms of the Note, upon consummation of the proposed business combination between Innovative and Zoomcar, Zoomcar's repayment obligation under the Note will be offset against the obligations of Ananda Trust under a concurrently executed Subscription Agreement entered into by Ananda Trust and Innovative to subscribe for 1,000,000 newly issued shares of Innovative at a purchase price of $10.00 per share. The Subscription Agreement includes registration rights obligations on the part of Innovative and is conditioned, among other customary closing conditions, upon the consummation of the Business Combination. In the event that the Business Combination is not consummated, the Note issued by Zoomcar in consideration of the Investment will be exchanged for a Zoomcar convertible promissory note and the Subscription Agreement will terminate automatically.
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VTSI | Hot Stocks08:16 EDT VirTra announces VirTra Volumetric Video for realistic 3D humans - VirTra has introduced a breakthrough technology for the industry, "VirTra Volumetric Video", or "V3", which has the potential to provide a step-function change in training content. V3 combines the advantages of high-definition video and 3D characters coupled with the ability to affordably build a comprehensive library of training content suitable for screen-based or headset-based platforms to provide a novel, industry-first simulation training solution. "Exceptional training content is a key differentiator and compelling reason for so many customers to buy simulators from VirTra," said Bob Ferris, Chairman and Co-CEO of VirTra. "Our goal with this multi-year project was to propel simulation training content to new levels of effectiveness, whether on a screen or in a headset, and in the process, we have built the world's very best volumetric video capture studio. This is a tool needed to create characters and scenarios with unparalleled realism built for the three-dimensional world of headset-based training."
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MRNA | Hot Stocks08:15 EDT Moderna's Omicron booster has superior antibody response v. spikevax prototype - Moderna announced new clinical data on its bivalent Omicron-containing booster, mRNA-1273.214. Ninety days after administration as a fourth booster dose in previously vaccinated and boosted participants, a 50 microgram booster dose of mRNA-1273.214 elicited a superior neutralizing antibody response against Omicron BA.1 when compared to a 50 microgram booster dose of mRNA-1273 in all participants regardless of prior infection. Superior performance against Omicron BA.1 was also durable, with higher antibody titers sustained through three months. In addition, mRNA-1273.214 demonstrated significantly higher neutralizing antibody responses against Omicron BA.4/BA.5 compared to mRNA-1273 28 days after administration, as previously reported. Potent responses were also seen against Omicron BA.2.75 28 days after administration, suggesting that thebivalent booster elicits broad cross-neutralization against Omicron variants."Our bivalent boosters continue to demonstrate a strong, enduring response to COVID-19 variants of concern," said Stephane Bancel, Chief Executive Officer of Moderna. "Clinical trial data now indicates that the superior immune response produced by our bivalent booster has durability for at least three months. As COVID-19 remains a global threat and a leading cause of death globally, this is an encouraging development, showing that a bivalent booster dose will offer important protection leading into the winter months."
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PLUG OLN | Hot Stocks08:14 EDT Plug Power, Olin launch joint venture for 15-ton-per-day hydrogen plant - Plug Power (PLUG) and Olin Corporation (OLN) announced the launch of a joint venture to begin with the construction of a 15-ton-per-day hydrogen plant in St. Gabriel, Louisiana. The joint venture, named Hidrogenii, will support reliability of supply and speed to market for green hydrogen throughout North America, setting the foundation for broader collaboration between the two companies. Plug will be the exclusive marketer of the joint venture's hydrogen and provide logistical support for delivery, while Olin will provide reliable hydrogen supply and operational expertise. The plant will benefit from state and local tax subsidies. The construction of the plant will create 160 jobs in 2022 and 215 jobs in 2023. The plant is then expected to create more than 25 permanent full-time jobs in Louisiana.
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MCHP | Hot Stocks08:13 EDT Microchip intoduces Arm Cortex - M4F-based PIC MCU family - Microchip Technology is introducing its first Arm Cortex-M4F-based PIC microcontroller family today that solves this wireless connectivity design challenge by integrating Bluetooth Low Energy functionality directly into one of a system's most basic components, supported by one of the industry's most comprehensive developer ecosystems.
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GLTO | Hot Stocks08:12 EDT Galecto enters tinto collaboration agreement for phase 2 trial of GB1211 - Galecto announced that it has entered into a collaboration agreement for an investigator-initiated Phase 2 trial at Providence Portland Medical Center's Earle A. Chiles Research Institute, EACRI, to evaluate the safety and efficacy of GB1211, Galecto's first-in-class, oral small molecule galectin-3 inhibitor candidate, in combination with pembrolizumab. Galecto has committed to supply GB1211 for the Phase 2 trial. The randomized, double-blind placebo controlled, investigator-initiated Phase 2 trial will evaluate whether the addition of GB1211 increases the response rate of pembrolizumab in metastatic melanoma and HNSCC patients. The study will employ a fixed dose of GB1211 in conjunction with the standard therapeutic dose of pembrolizumab in patients with unresectable or metastatic melanoma or recurrent or metastatic HNSCC progressing during or after platinum-containing chemotherapy. In addition to monitoring for toxicity and clinical response, blood and tumor samples will be obtained to assess immunologic measures relevant to galectin-3 biology and checkpoint inhibition. The Phase 2 trial is expected to begin in 2023 and top line results of the combination are expected to be reported as early as 2025.
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GE | Hot Stocks08:12 EDT GE Healthcare announces RPM collaboration with AMC Health - GE Healthcare and AMC Health announced a collaboration that allows clinicians to offer Remote Patient Monitoring, or RPM, as a virtual care solution that extends patient care outside the hospital to the home environment. The combination of GE Healthcare's acute patient monitoring capabilities in the hospital setting, along with AMC Health's expertise in RPM solutions leveraging an FDA Class II 510(k)-cleared platform with analytics will extend the continuum of non-acute care for patients after being discharged from the hospital.
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CERT | Hot Stocks08:11 EDT Certara announces Japan's PMDA renewed licenses of its software - Certara announced that the Japanese Pharmaceuticals and Medical Devices Agency, PMDA, has renewed its licenses of Certara's Simcyp Simulator, Phoenix biosimulation software, and Pinnacle 21 Enterprise software. "The adoption of biosimulation and technology to advance novel drug development continues to grow in Japan," said Certara's CEO William Feehery, Ph.D. "We are proud of our ongoing partnership with the PMDA and industry leaders in Japan, as we work together to drive the use of innovative approaches and deliver critical therapies to patients sooner."
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AIR | Hot Stocks08:11 EDT AAR Corp. expands partnership with flydubai - AAR CORP. has signed a new multi-year flight-hour component support contract, expanding its relationship with flydubai to include additional aircraft in flydubai's rapidly growing Boeing 737 MAX fleet. AAR will grow its onsite team and work alongside flydubai to ensure real-time decision making and seamless interaction throughout the duration of this contract. The inventory for this program will be located in Dubai, in alignment with AAR's "close to the customer" support philosophy.
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UNVR | Hot Stocks08:10 EDT Univar adds four labs at its Solution Centers in Houston - Univar Solutions announced the addition of four pharmaceutical ingredient labs at its flagship Solution Centers in Houston, Texas; Osasco - Sao Paulo, Brazil; Mexico City, Mexico; and Essen, Germany. The new facilities, designed to foster innovation and growth for customers in life science markets, will provide technical services such as formulation and prototype development, performance and application testing, chemical and product performance analysis, and custom blending for various dosage forms including oral solid dose, or OSD, semi-solid, liquid, and topical.
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MULN ELMS | Hot Stocks08:09 EDT Mullen Automotive continues acquisition path with purchase of ELMS assets - Mullen Automotive (MULN) announces the US Bankruptcy Court approval on Oct. 13th, 2022 of its acquisition of electric vehicle company ELMS's assets in an all cash purchase. In the Chapter 7 approved transaction Mullen will acquire ELMS's (ELMS) manufacturing plant, all inventory and intellectual property. Acquisition benefits include: The factory in Mishawaka, IN providing Mullen with the capability to produce up to 50,000 vehicles per year; Allows acceleration of the path to production and market for Mullen FIVE and Bollinger B1, B2 retail vehicles by 12 plus months; Commercial Product Platforms to be assembled at Mullen's Tunica MS. Facility, for Launch of Mullen Class 1 and Class 3 Commercial Delivery vehicles into Market in 2023; The platform and plant acquisition results in a significant reduction of the Company's previously forecast overall spend. Manufacturing optimization will include moving the Mullen FIVE EV Crossover production to the Mishawaka Factory from the Tunica, MS facility. Mullen FIVE production is planned to begin production in 2024. With the additional Manufacturing capacity, total production volumes are expected to exceed Mullen's previous business plan projections. "Mullen's acquisition of Bollinger was one of the largest transactions of its kind in the EV market. Upon closing the ELMS transaction, the Company will be in a position to strategically leverage all its acquired assets to shorten its production path and aggressively expand into the commercial and consumer EV market," said David Michery, CEO and chairman of Mullen Automotive.
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CVX... | Hot Stocks08:09 EDT Air Liquide, Chevron, others team team on hydrogen project along US Gulf Coast - Air Liquide (AIQUY) , Chevron Corporation (CVX), LyondellBasell (LYB), and Unipe have announced their intent to collaborate on a joint study that will evaluate and potentially advance the development of a hydrogen and ammonia production facility along the U.S. Gulf Coast. The facility could support industrial decarbonization and mobility applications in the region and expand clean ammonia exports, helping to increase the supply of lower carbon power internationally. The potential project to be studied is intended to cover the end-to-end energy value chain, utilizing each participant's technical expertise in production, operational experience, storage, distribution, and export logistics. Collectively, the consortium will bring capabilities and expertise in air separation technology, hydrogen technologies, lower carbon intensity and renewable natural gas, carbon capture and storage CCS, electrolysis-based technologies, and petrochemicals. Specifically, the consortium will assess the potential for producing hydrogen using natural gas with CCS and renewable hydrogen via electrolysis to supply end-use markets, including the ammonia, petrochemicals, power, and mobility markets.
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ICCM | Hot Stocks08:09 EDT IceCure Medical submits filing with FDA for market authorization of Prosense - IceCure Medical announced it submitted a regulatory filing, a De Novo Classification Request, with the FDA for marketing authorization based on ICE3 clinical trial interim analysis of ProSense for the indication of early-stage low-risk breast cancer in patients who are at high risk to surgery, representing approximately 43,000 women in the U.S. annually. The specific indication filed is based on interim data and is in accordance with discussions IceCure has had with the FDA, which granted ProSense Breakthrough Device Designation, enabling closer communications regarding its regulatory filing. ICE3 is the largest controlled, multicenter clinical trial ever performed in the U.S. for liquid nitrogen-based cryoablation of small, low-risk, early-stage malignant breast tumors. To date, there have been six cases of ipsilateral breast tumor recurrence, or IBTR, out of 194 patients, or 3.09%. The survival-based estimate for the 5-year IBTR is 4.3% with a one-sided 95% confidence level, upper bound of 8.4% for the entire study population. Final ICE3 5-year follow-up data are expected in the first half of 2024, at which time IceCure plans to file with the FDA for a broader indication reflecting the entire study population-early-stage low-risk breast cancer for patients age 60 and over, representing approximately 65,000 women in the U.S. annually.
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DSS | Hot Stocks08:08 EDT Impact Biomedical partner GRDG to be featured in documentary - Daryl Thompson, founder of GRDG Sciences in Winter Haven, Florida, has spent a career working just out of the spotlight and inventing biological and medical technologies that, when fully deployed, could better the lives of people around the world. But all that may change as GRDG, a scientific research partner of Impact BioMedical, announced that it will be the subject of a documentary film highlighting the passion, the search, and the cutting-edge discoveries that push the company - and its founder - behind a single-minded goal: creating a healthier world quickly and naturally. The documentary project comes on the heels of GRDG's completion of Sombrero, a five-year multi-pronged project that yielded multiple patents and potentially billions of dollars in licensing opportunities.
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INMB | Hot Stocks08:08 EDT INmune Bio announces solid tumor efficacy data for INKmune - INmune Bio announces positive solid tumor data in multiple cancer lines resistant to NK killing that can be overcome with administration of INKmune. INKmune converts patient's normal resting NK, rNK, cells into potent memory-like NK cells that target solid tumors directly, even in the presence of immunosuppressive immunoregulatory cells and hypoxia associated with the TME. The Company's pre-clinical data show that INKmune primes NK cells from patients and from healthy donors to lyse NK-resistant ovarian, prostate, renal and nasopharyngeal cancer cells. The Company identified more than 1,500 proteins that are upregulated in NK cells following INKmune priming and subsequent analysis compared them to NK cells primed with a cytokine cocktail of IL-12, IL-15 and IL-18. Of the 250 most upregulated proteins, 141 are completely unique to INKmune priming and are not upregulated by the cytokines IL-12, IL-15 and IL-18.
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EQIX | Hot Stocks08:07 EDT Equinix announces $45M investment in Colombia - Equinix announced a $45M investment in Colombia for the construction of BG2, a new International Business Exchange data center in Bogota, scheduled to open in the first half of 2023. With this new facility, Equinix is reinforcing its commitment to strengthening the digital economy across Latin America, with around 32,000 square feet of colocation space-expected to be one of the largest data centers in Colombia. BG2 will provide global and local businesses and partners alike with the ability to connect directly and securely to the world's digital economy, via comprehensive digital ecosystems.
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DDOG | Hot Stocks08:06 EDT Datadog, AllCloud launch Managed Monitoring solution - AllCloud announced the launch of a solution, Managed Monitoring, for AWS customers with Datadog, the monitoring and security platform for cloud applications. The Managed Monitoring solution combines real-time logs and metrics from servers, containers, databases and applications with end-to-end tracing and 400+ integrations for troubleshooting, alerting and graphing. The solution includes rich, out-of-the-box dashboards and drag-and-drop tools, so users can create their own dashboards. An easy-to-use API allows users to extend Datadog integrations and send metrics and events from their own applications. Managed Monitoring customers will have access to AllCloud's team of Datadog experts.
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GSK | Hot Stocks08:06 EDT GSK announces interim results from ZOSTER-049 extension study of Shingrix - GSK plc announced "positive" interim results from the ZOSTER-049 extension study showing that overall Shingrix can provide at least a decade of protection against shingles after initial vaccination. The interim analysis data will be presented on October 20 at the IDWeek congress in Washington, DC. These results come from ZOSTER-049, an extension from two phase III clinical trials ZOE-50 and ZOE-70. From those trials, vaccine efficacy was 97% in adults 50 years and above and 91% in adults 70 years and above over a follow-up period of approximately four years. The ZOE-LTFU study, which follows participants from the ZOE-50 and ZOE-70 clinical trials for an additional six years, is ongoing and will continue to evaluate the longer-term efficacy, immunogenicity and safety of the vaccine. Sabine Luik, Chief Medical Officer & SVP Global Medical Regulatory & Quality, GSK, said: "We are delighted to see the continuing longevity of protection from our shingles vaccine. The findings from ZOE-LTFU demonstrate that it can provide a decade of protection against the pain, debilitating impact and potentially severe complications that shingles can cause in people aged 50 and over. These data significantly add to, and complement, the existing body of evidence demonstrating the long-term benefit of the vaccine, and we look forward to seeing additional results from this ongoing study."
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WMT | Hot Stocks08:05 EDT Walmart announces return of 'Black Friday Deals for Days' - Walmart is announcing the return of its month-long savings event, "Black Friday Deals for Days." Like the past two years, Walmart will spread it over three events throughout November and cap off a month of deals with Cyber Monday. Walmart's "Black Friday Deals for Days" events will begin on Walmart.com every Monday in November. Walmart is also bringing back its Early Access benefit. Paid Walmart+ members will have the advantage of an extended early access window that begins seven hours before the scheduled start times for all three events on Walmart.com.
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ACLS | Hot Stocks08:02 EDT Axcelis announces shipments of Purion Power Series implanters - Axcelis Technologies announced multiple new and follow-on shipments of the Company's Purion Power Series implanters to leading power device chipmakers in both silicon and silicon carbide technologies. The systems include the Purion H200 high current, Purion H200 SiC high current, Purion XE SiC high energy, and the Purion M SiC medium current. These customers will use the systems in high volume production of power devices supporting automotive and other power management markets. President and CEO Mary Puma commented, "The power device market continues to drive our growth globally and will likely account for between 35 and 40% of our system shipments in 2022. This growth is a long-term trend driven by the transition to electric vehicles and should benefit Axcelis for many years to come."
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DMTTF | Hot Stocks07:54 EDT Small Pharma granted second U.S. patent for psychedelics portfolio - Small Pharma has been granted patent no. 11,471,417 by the United States Patent Office. This United States patent provides protection for a therapeutic composition of a small group of deuterated N,N-dimethyltryptamine compounds, with expected lifetime of exclusivity until April 2041, further strengthening the Company's intellectual property position in support of its research and development. This patent sits alongside Small Pharma's existing European granted patent no. 3902541, providing additional protection for the Company's deuterated pipeline in a core market. The grant marks the Company's twelfth granted patent in its psychedelic and non-psychedelic portfolio, which includes over 70 pending applications, and is the second United States patent grant within its psychedelic portfolio.
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ALLY | Hot Stocks07:49 EDT Ally Financial down 7.7% after Q3 earnings and revenue miss
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MCS | Hot Stocks07:47 EDT Marcus Theatres' loyalty program reaches 5M members - Marcus Theatres, a division of The Marcus Corporation , announces that its Magical Movie Rewards loyalty program has signed up its five millionth member. The milestone is a celebration of human reconnection as moviegoers continue to head back into theatres to experience the excitement of seeing movies on the big screen. Since its inception in 2014, the Magical Movie Rewards program has been a key to increasing customer loyalty and growing sales. Loyalty members receive one point for every dollar spent and earn a $5 reward for every 100 points accumulated. Members also benefit by having online ticketing fees waived, and receiving exclusive offers and personalized weekly emails. These perks, along with the overall moviegoing experience, drive attendance and repeat business. In fact loyalty members make up nearly half 46% of the overall attendance and on average visit the theatre four times per year. "The Magical Movie Rewards program is one of our strongest channels to learn about our moviegoers' expectations and preferences," said Mark Gramz, president of Marcus Theatres. "We provide what we believe will be of interest and value to our members, which creates a relationship and can lead to increased business. Welcoming our five millionth member confirms the continued interest in the program."
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MCS | Hot Stocks07:47 EDT Marcus Theatres' loyalty program reaches 5M members - Marcus Theatres, a division of The Marcus Corporation , announces that its Magical Movie Rewards loyalty program has signed up its five millionth member. The milestone is a celebration of human reconnection as moviegoers continue to head back into theatres to experience the excitement of seeing movies on the big screen. Since its inception in 2014, the Magical Movie Rewards program has been a key to increasing customer loyalty and growing sales. Loyalty members receive one point for every dollar spent and earn a $5 reward for every 100 points accumulated. Members also benefit by having online ticketing fees waived, and receiving exclusive offers and personalized weekly emails. These perks, along with the overall moviegoing experience, drive attendance and repeat business. In fact loyalty members make up nearly half 46% of the overall attendance and on average visit the theatre four times per year. "The Magical Movie Rewards program is one of our strongest channels to learn about our moviegoers' expectations and preferences," said Mark Gramz, president of Marcus Theatres. "We provide what we believe will be of interest and value to our members, which creates a relationship and can lead to increased business. Welcoming our five millionth member confirms the continued interest in the program."
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ABT | Hot Stocks07:37 EDT Abbott reports Q3 U.S. Medical Devices sales grew 11.3% - U.S. Medical Devices sales grew 11.3% in the third quarter, led by strong double-digit growth in Electrophysiology, Structural Heart and Diabetes Care.
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ABT | Hot Stocks07:36 EDT Abbott 'particularly pleased' with sales growth rates in U.S. Medical Devices - "Our results and increased guidance in the current macroeconomic environment reflect the strength of our diversified business model and execution," said Robert Ford, chairman and CEO, Abbott. "We're particularly pleased with improving sales growth rates in U.S. Medical Devices, which is being fueled by several recent product launches, as well as continued strong performance in Established Pharmaceuticals."
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ABT | Hot Stocks07:34 EDT Abbott reports Q3 Worldwide Medical Devices sales down 0.5% on reported basis - Worldwide Medical Devices sales decreased 0.5 percent on a reported basis and increased 6.4 percent on an organic basis in the third quarter. Sales growth in the U.S. was led by strong double-digit growth in Electrophysiology, Structural Heart and Diabetes Care. Internationally, sales growth was negatively impacted by intermittent COVID-19 lockdown restrictions in China as well as supply constraints in certain areas, most notably Electrophysiology. In Diabetes Care, FreeStyle Libre sales were approximately $1.0 billion in the quarter, including U.S. growth of more than 40 percent. International FreeStyle Libre sales were negatively impacted by supply constraints of Abbott's first-generation FreeStyle Libre system in certain emerging markets.
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FCN | Hot Stocks07:33 EDT FTI's Technology segment expands legal department transformation solutions - FTI Consulting announced that the firm's Technology segment has further expanded its legal department transformation solutions from the Corporate Legal Operations practice. Tackling an enhanced list of top focus areas for corporate legal departments - including business strategy alignment, legal technology adoption, processes and spend management - the team can deliver assessments with actionable roadmaps for program improvement, alongside comprehensive services and technology that support the entirety of legal operations transformation.
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ABEO | Hot Stocks07:31 EDT Abeona Therapeutics announces database lock for Phase 3 VITAL study of EB-101 - Abeona Therapeutics announced the database lock on October 18, 2022 for the pivotal Phase 3 VIITAL study of its investigational autologous, engineered cell therapy, EB-101, in patients with recessive dystrophic epidermolysis bullosa. With the database now locked, the Company remains on track to report topline results in the next two to three weeks, consistent with guidance provided in early-October. "I want to thank the clinical team at Abeona and our study sites Stanford and UMass for their collaborative effort and speed in achieving this milestone in about two weeks following completion of the last patient visit," said Vish Seshadri, Chief Executive Officer of Abeona. Abeona expects the VIITAL study, if positive, to serve as a basis for seeking approval by the U.S. Food and Drug Administration of EB-101 for the treatment of patients with RDEB.
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ALLY | Hot Stocks07:30 EDT Ally Financial sees uncertainty ahead - "While we remain focused on delivering solid results each quarter, we're actively monitoring the uncertainty which lies ahead", said CEO, Jeffrey J. Brown. "The specific path the economy will take over the next few quarters is unclear, but Ally has an incredibly strong foundation in our people and businesses. Our 'Do It Right' culture underpins everything we do. We've fostered an owners' mentality across more than 11,000 teammates which heightens our focus on risk management and unwavering focus on controlling what we can control. Our teams have demonstrated an ability to deliver results across a variety of operating environments and we will leverage that expertise in executing against our strategic priorities. We're focused on continuing to be the leading digital financial services company and delivering long-term value for all our stakeholders."
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PSN | Hot Stocks07:26 EDT NOAA awards Parsons $16M contract for POES operations - The National Oceanic and Atmospheric Administration has selected a team led by Parsons Corporation to provide engineering services, information technology functionality, and flight operations support to assume on-orbit operations for the Polar Operational Environmental Satellites NOAA-15, NOAA-18, and NOAA-19. The $16M definitive contract has a one-year performance period and two one-year option periods and is new work for Parsons.
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ONDS | Hot Stocks07:20 EDT Ondas' American Robotics receives purchase order from oil, gas company - Ondas Holdings announced that American Robotics has received a new purchase order from a leading U.S. oil and gas company. Adding another high-level company to its customer base, American Robotics' autonomous drone technology continues to provide the nation's leading oil and gas companies with the technology needed to streamline monitoring and inspections.
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GDBYF | Hot Stocks07:19 EDT Goodbody Health enters agreement with Allied Pharmacies - Goodbody Health signed an agreement with Allied Pharmacies Limited to join the Goodbody clinic network. The new Allied Pharmacies clinics adds 17 pharmacies that can provide a range of services including the range of diagnostic testing offered by the Goodbody clinics and other health services including ear wax micro suction. Earwax removal is no longer offered by most GPs, so patients are increasingly turning to community pharmacies for advice and treatment.
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AUUD | Hot Stocks07:17 EDT Auddia announces uer performance metrics, announces new features for faidr - Auddia announced "positive" user data with costs-per-install, CPI, through Q3 continuing to decline as the Company gains visibility to reaching a CPI below $2 as user adoption and organic customer referrals increase. Auddia is continuing to execute on the process of optimizing the user experience, improving performance metrics, and quantifying subscription conversion rates in preparation for providing 2023 revenue guidance with Q3 filings in mid-November. The Company is currently conducting its second test of subscription conversion rates after the first test saw an 8.5% subscription conversion rate, exceeding internal expectations of 5%. Auddia is hoping to exceed 8.5% with the most recent test, which concludes on November 9, 2022. "faidr's audience prefers choosing what they want to hear on AM/FM radio streams. The app launched in February and, according to AppsFlyer data, faidr is already performing in the top 10% of music and entertainment apps for retention," said Michael Lawless, Auddia's CEO. "This is particularly encouraging given that mobile app strategies to optimize retention have not yet been implemented. As those strategies are integrated into our marketing efforts, we expect retention to have a meaningful uptick. By adding podcasts and faidrRadio content, we're empowering listeners with more choices while supporting our partners and independent music creators. We expect these content strategies to also have a significant impact on retention improvement."
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TITUF | Hot Stocks07:16 EDT CVW CleanTech director John Kowal passes away - CVW CleanTech is saddened to announce the passing of Mr. John Kowal, a member of the Board of Directors and Chair of the Audit Committee.
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KMDA | Hot Stocks07:15 EDT Kamada awarded $22M extension of Canadian supply tender - Kamada announced that the Company was awarded an extension of an existing tender from the Canadian Blood Services, CBS, for the supply of four IgG products, CYTOGAM, HEPAGAM, VARIZIG and WINRHO SDF, for an additional three years for an approximate total value of $22M. This award secures the ongoing sales of those products in the Canadian market. The four commercial products, approved by Health Canada and the U.S. Food and Drug Administration, were acquired by Kamada in November 2021. CBS manages the Canadian supply of blood products for all Canadian provinces and territories, excluding Quebec. The extension with CBS is for a three-year period, commencing on April 1, 2023, with an option to extend for up to two additional years. "This award, together with KAMRAB as the primary anti-Rabies IgG product used in Canada, validates our position as the leading specialty IgG company in that important geography," said Amir London, Kamada's Chief Executive Officer. "This achievement represents the second significant tender we have recently secured, following the new $11.4 million supply agreement won for VARIZIG from an international organization operating principally in Latin America. We remain confident that significant commercial potential exists for our IgG portfolio in international markets and intend to continue pursuing additional contracts in key strategic territories.
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GRTS | Hot Stocks07:14 EDT Gritstone to host data update on CORAL program - Gritstone bio announced that it will host a webinar on October 25, 2022 to present data from its CORAL program and discuss the application of its self-amplifying mRNA vaccine platform for infectious diseases. During the webinar, lead investigators will present data from the ongoing Phase 1 CORAL-BOOST and CORAL-CEPI trials which are evaluating the company's samRNA vaccine candidates against SARS-CoV-2. Following the data presentations, Lawrence "Larry" Corey, M.D., an internationally renowned expert in virology, immunology and vaccine development, will speak to the potential application of samRNA vaccines against infectious diseases.
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TLRY | Hot Stocks07:13 EDT Breckenridge Distillery announces collaboration with Breckenridge Brewery - Breckenridge Distillery, a subsidiary of Tilray Brands, and Breckenridge Brewery return this season for the second ever Buddy Pass, a barrel-exchange program to create a limited-edition Imperial Stout Cask Finish Whiskey and a Whiskey Barrel-Aged Imperial Oatmeal Stout Beer. Buddy Pass has expanded nationwide, entering 10 new markets and will hit retailers starting Oct. 24. The collaboration begins with Breckenridge Brewery's Imperial Oatmeal Stout beer aged in Breckenridge Distillery Bourbon barrels. After the beer is sufficiently aged, the barrels are returned to Breckenridge Distillery where they are filled once again with the distillery's whiskey.
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WSTG | Hot Stocks07:11 EDT Climb Channel Solutions partners with Proofpoint for cybersecurity solutions - Climb Channel Solutions has joined forces with Proofpoint to help companies stop targeted threats, safeguard their data, and train their employees to be more resilient against cyber-attacks.
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NUWE | Hot Stocks07:10 EDT Nuwellis appoints Blake as Chief Financial Officer - Nuwellis announced the appointment of Lynn Blake as Chief Financial Officer, effective October 19, 2022. Blake brings more than two decades of senior financial leadership experience. Most recently, she served as a Managing Director at Growth Operators Advisory Services.
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SURF | Hot Stocks07:09 EDT Surface Oncology, VIB announce publication on SRF388 - VIB and Surface Oncology announced jointly the publication of a study entitled, "Structural basis of activation and antagonism of receptor signaling mediated by interleukin-27: Cell Reports," in Cell Reports. The study was a collaborative research effort between the Unit for Structural Biology at the VIB-University of Ghent Center for Inflammation Research and Surface Oncology. "SRF388 is a fully human anti-IL-27 antibody designed to inhibit the activity of this immunosuppressive cytokine, and this study provides important structural evidence that the antibody directly competes with the IL-27 receptor to prevent downstream signaling of the cytokine," said Vito Palombella, Chief Scientific Officer at Surface Oncology. "IL-27 has been implicated as an immunosuppressive cytokine in several tumor microenvironments and understanding the mechanistic basis of SRF388's inhibitory activity will help inform its ongoing clinical development." Summary of key data: IL-27 is comprised of p28 and EB13 subunits which are uniquely organized into a heterodimeric assembly distinct from other members of the IL-12 family of cytokines. The elucidated crystal structure of IL-27 and its receptor reveals the presence of at least 4 different sites that are important for the assembly of the signaling complex and which potentially can be used as targeting sites to disrupt IL-27's structure and subsequently its immunosuppressive function. Analyses reveal that SRF388 and the IL-27 receptor contend for the same binding epitope on IL-27, with SRF388 competitively inhibiting IL-27 receptor activity, providing structural evidence for SRF388's potent antagonistic properties.
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EQX | Hot Stocks07:09 EDT Equinox Gold announces results of Feasibility Study to expand Los Filos Mine - Equinox Gold announced the results of a Feasibility Study for an expansion at the Company's 100%-owned Los Filos Mine Complex located in Mexico. Current Los Filos operations consist of both run-of-mine, or ROM, and crushed ore heap leach facilities. With continued development of the Bermejal Underground deposit and construction of a 10,000 tonnes per day, or t/d, carbon-in-leach, or CIL, processing plant, the Los Filos mine life would be extended to 14.5 years with life-of-mine, or LOM, average annual production increasing to 280,000 ounces of gold at all-in sustaining costs, or AISC, of $1,081 per oz. Total LOM production is estimated at 3.97 million oz of gold. Peak production during 2025-2030 averages 360,000 oz of gold per year. Using the base case $1,675/oz gold price, the expansion project has an after-tax net present value discounted at 5% of $625M with an internal rate of return, or IRR of 26%. Gold mineralization at Los Filos extends beyond the drilled area, and it is expected that additional drilling along the contact between intrusive and carbonate rock could identify further skarn mineralization. With exploration success and conversion of Mineral Resources to Mineral Reserves, considerable potential exists to extend the Los Filos mine life beyond 2036.
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CLBT | Hot Stocks07:09 EDT Cellebrite releases next generation of Cellebrite Guardian - Cellebrite DI announced the release of the next generation of Cellebrite Guardian, which provides quicker time to evidence as it loads evidence within just seconds of receipt and further simplifies workflows to accelerate time to justice. The latest enhancements create increased flexibility for law enforcement and help them secure privacy as they are able to harness the power of the solution to simplify and streamline end-to-end processes and key pain points in the investigative workflow, including physical duplication, transportation of evidence, and time-consuming evidence review.
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ACOR | Hot Stocks07:08 EDT Acorda says three proxy advisory firms advise reverse stock split - Acorda Therapeutics announced that the three leading, independent proxy advisory firms - Institutional Shareholder Services, Glass Lewis and Co and Egan-Jones all recommend that shareholders vote "For" Proposal 2, Reverse Stock Split, at Acorda's Special Meeting of Stockholders, scheduled for November 4. "We appreciate the confirmation of the need for and urgency of this proposal," said John P. Kelley, Chair of Acorda's Board of Directors. "The proposal to allow the board to implement a reverse split, if necessary, is critical to ensure that Acorda does not become delisted from Nasdaq. If delisting were to occur, we may be in default on our agreements with our debtholders, and may need to declare bankruptcy." Stockholders are encouraged to cast your vote promptly FOR the Reverse Split proposal without further delay.
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ONDS | Hot Stocks07:08 EDT Ondas receives new order from oil and gas company - Ondas announced that American Robotics has received a new purchase order from a U.S. oil and gas company. Adding another high-level company to its customer base, American Robotics' autonomous drone technology continues to provide oil and gas companies with the technology needed to streamline monitoring and inspections.
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NDAQ | Hot Stocks07:07 EDT Nasdaq sees 2022 non-GAAP tax rate 24%-25% - The company is narrowing its 2022 non-GAAP operating expense guidance to a range of $1,700 to $1,720 million. Nasdaq expects its 2022 non-GAAP tax rate to be in the range of 24% to 25%.
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ATCX | Hot Stocks07:07 EDT Atlas Technical Consultants reselected to support federal aid projects by GDOT - Atlas Technical Consultants announced that it has been re-selected by the Georgia Department of Transportation, GDOT, to provide program management services for ongoing and future transportation projects throughout the state under the Local Administered Projects, LAP, program, which it has been supporting for over twenty years. The contract has a base term of three years with two, one-year extension options, and has a maximum value of $25M. "A key pillar of Atlas' corporate purpose is our dedication to providing the communities in which we live and work with safe and sustainable infrastructure solutions," said Atlas CEO, L. Joe Boyer. "Atlas has a deep history of providing professional and technical services to GDOT, and we are excited to be able to continue to work closely with local agencies throughout the state in helping to achieve their transportation infrastructure goals."
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LNG | Hot Stocks07:07 EDT Cheniere Energy joins Oil and Gas Methane Partnership 2.0 - Cheniere Energy announced that it has joined the Oil and Gas Methane Partnership, or OGMP, 2.0, the United Nations Environment Program's, or UNEP, flagship oil and gas methane emissions reporting and mitigation initiative. OGMP 2.0 is a measurement-based reporting framework intended to improve the accuracy and transparency of methane emissions reporting in the oil and gas sector. Cheniere joins OGMP 2.0 as part of the company's continued commitment to increased climate transparency and data-driven actions that address methane emissions.
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USB MUFG | Hot Stocks07:06 EDT U.S. Bancorp gets regulatory approval for acquisition of MUFG Union Bank - U.S. Bancorp (USB) announced that it has received all required regulatory approvals to complete the previously announced acquisition of MUFG Union Bank's core regional banking franchise from Mitsubishi UFJ Financial Group ( MUFG) and that the transaction is expected to close on December 1. MUFG received approval from the Japanese Financial Services Agency on October 19, 2022. The transaction was previously approved by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation. The December 1 expected closing date remains subject to the satisfaction of closing conditions set forth in the agreement between the banks. "We are looking forward to welcoming the customers and employees of MUFG Union Bank to U.S. Bank," said U.S. Bank chairman, president and CEO Andy Cecere.
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HCSG | Hot Stocks07:06 EDT Healthcare Services increases quarterly dividend to 21.5c per share - The company's board of directors declared a quarterly cash dividend of 21.5c per common share, payable on December 22 to shareholders of record at the close of business on November 18. This represents the 78th consecutive quarterly cash dividend payment, as well as the 77th consecutive increase since the initiation of quarterly cash dividend payments in 2003.
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PSTV | Hot Stocks07:04 EDT Plus presents preliminary safety, feasibility data from ReSPECT-LM trial - Plus Therapeutics presented data from two ongoing clinical trials evaluating the Company's lead investigational targeted radiotherapeutic, Rhenium-186 NanoLiposome, 186 RNL, in leptomeningeal metastases, LM, and recurrent glioblastoma, GBM, at the 35th Annual Congress of the European Association of Nuclear Medicine, EANM. The Company's ReSPECT-GBM presentation was selected for inclusion in the opening Plenary Highlights Lecture, signaling significant clinical interest in the field. The TOP Trials Oral Presentation titled, Safety and Feasibility of Rhenium-186 Nanoliposome in Leptomeningeal Metastases Phase 1 dose escalation Trial, demonstrated: The 186RNL dose administered through an intraventricular catheter in Cohort 1 achieved absorbed doses of 18.7 to 29.0 Gray to the ventricles and cranial subarachnoid space, which was well tolerated with no treatment-related adverse events of greater than grade 1. All four patients treated to date in Cohorts 1 and 2 were observed to have prompt and complete 186RNL distribution. All patients showed a decreased CSF cell count by microfluidic chamber assay after treatment, ranging from 46% to 92%. Cohort 2 in the ReSPECT-LM trial has commenced, with interim data from the first two patient cohorts expected by the end of 2022. The Top Rated Oral Presentation titled, Safety and Feasibility of Rhenium-186 NanoLiposome in Recurrent Glioma: the ReSPECT Phase 1/2a Trial, reviewed data which indicate that: Direct administration of 186RNL is safe in patients with recurrent GBM with no dose-limiting toxicities. There is a statistically significant overall survival benefit observed with 186RNL radiation doses over 100 Gray. Patients receiving a therapeutic absorbed radiation dose had a median OS of 129.7 weeks compared to those receiving a subtherapeutic absorbed radiation dose whose median OS was 22.3 weeks. The Company plans to initiate a National Institutes of Health-funded Phase 2 study by the end of 2022.
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RDHL | Hot Stocks07:02 EDT RedHill granted of further method that protects administration of opaganib - RedHill Biopharma announced the granting by the United States Patent and Trademark Office, or USPTO, of a further method of use patent that protects the administration of opaganib for the inhibition of a disease caused by a coronavirus in a subgroup population of patients requiring a fraction of inspired oxygen, or FiO2, up to and including 60% at baseline, adding to the existing strong patent suite covering opaganib. The new patent, expiring in 2041, titled "Sphingosine Kinase 2 Inhibitor for Treating Coronavirus Infection in Moderately Severe Patients with Pneumonia", protects the results from a post-hoc analysis from the global Phase 2/3 study in hospitalized patients with COVID-19 pneumonia (NCT04467840). This analysis of 251 study participants requiring a FiO2 up to and including 60% at baseline demonstrated that treatment with oral opaganib resulted in a 62% reduction in mortality, improved outcomes in time to room air and median time to hospital discharge, and a reduced likelihood of intubation and mechanical ventilation in this large group of hospitalized, moderately severe COVID-19 patients.Late-stage development of opaganib is ongoing pending Phase 3 trial design regulatory approvals and securing of external funding.
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TRV | Hot Stocks07:02 EDT Travelers reports book value per share of $84.94, down 27% from September 30 - Driven by higher interest rates; adjusted book value per share of $111.90, up 7% from September 30, 2021. Reports Q3: Catastrophe losses of $512 million pre-tax compared to $501 million pre-tax in the prior year quarter. Record net written premiums of $9.198 billion, up 10% compared to the prior year quarter. Net written premium growth in all three segments compared to the prior year quarter; Business Insurance up 9%, Bond & Specialty Insurance up 8% and Personal Insurance up 13%. Total capital returned to shareholders of $722 million, including $501 million of share repurchases. "We are pleased to report solid third quarter 2022 results, particularly in light of significant industry-wide losses from Hurricane Ian," said Alan Schnitzer, Chairman and CEO. "Our strategic approach to underwriting for catastrophes has once again served us well. Our focus is now on taking care of our customers and meeting our industry-leading objective of resolving 90% of our property claims arising out of catastrophes, including this historic storm, within 30 days."
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SCL | Hot Stocks07:01 EDT Stepan Company increases quarterly dividend to 36.5c per share - Stepan Company reported that its board of directors approved an increase of 3c per share, or 9%, on its quarterly cash dividend on its common stock. The dividend of 36.5c per share is payable on December 15 to common stockholders of record on November 30. The increase marks the 55th consecutive year in which the quarterly dividend rate on the company's common stock has increased.
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SCL | Hot Stocks06:59 EDT Stepan Company sees $8M incremental expense in Q4 - "The Company delivered record third quarter and nine-month results and we expect to deliver record full year earnings again in 2022. For the fourth quarter we anticipate approximately $8 million of incremental expense related to planned maintenance activity in our North American Phthalic Anhydride plant and low 1,4 dioxane transition costs," said Scott Behrens, President and CEO. "From a segment perspective, we believe that Surfactants, Polymers and Specialty Products should all deliver full year earnings growth versus prior year. Surfactant volumes within the Functional Products and Industrial Cleaning end markets are expected to show full year growth over 2021. Despite short-term volatility and challenges, we believe that the long-term outlook for Rigid Polyols will remain attractive as energy conservation efforts and more stringent building codes are expected to continue. Looking forward to the next few quarters, we believe the Company will be challenged by slowing global economic growth, weakening consumer and construction demand, continued inflationary pressures and a stronger U.S. dollar. Despite this projected macro environment, we remain committed to executing our long-term growth strategy."
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PG | Hot Stocks06:58 EDT Procter & Gamble CEO says 'very difficult cost and operating environment' - "We delivered solid results in our first quarter of fiscal 2023 in a very difficult cost and operating environment," said Jon Moeller, Chairman of the Board, President and CEO. "These results enable us to maintain our guidance ranges for organic sales and EPS growth for the fiscal year despite continued significant headwinds. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption and an agile and accountable organization structure. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to navigate through the near-term challenges we're facing and continue to deliver balanced growth and value creation."
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PG | Hot Stocks06:58 EDT Procter & Gamble sees FY23 CapEx approximately 5% of fiscal 2023 net sales - &G now expects a core effective tax rate of approximately 19.5% in fiscal 2023. P&G continues to expect adjusted free cash flow productivity of 90% and expects to pay around $9 billion in dividends and to repurchase $6 billion to $8 billion of common shares in fiscal 2023.
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KALV | Hot Stocks06:46 EDT KalVista announces publication of new sebetralstat data in two journals - KalVista Pharmaceuticals announced the publication of new sebetralstat data in both the Journal of Medicinal Chemistry and Xenobiotica. The Journal of Medicinal Chemistry article focuses on the medicinal chemistry KalVista conducted that led to the discovery of sebetralstat, with properties optimized for the on-demand treatment of hereditary angioedema, or HAE. Data with sebetralstat showed high selectivity against related human serine proteases. This feature, together with the rapid and high plasma exposure and near-complete inhibition of plasma kallikrein, or PKa, in preclinical studies, supported its progression into toxicology and ultimately clinical assessment. Sebetralstat has since advanced to phase 3 trials. In Xenobiotica, sebetralstat was shown to be rapidly absorbed into the systemic circulation and demonstrated absorption, metabolism, and excretion properties that would be beneficial for on-demand treatment of HAE attacks.
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MKTX | Hot Stocks06:34 EDT MarketAxess narrows FY22 expense view to $390.0M-$398.0M from $385.0M-$415.0M - The company said, "Based on the progression of operating expenses and the impact of foreign currency fluctuations year-to-date, the Company is refining its previously stated FY22 expense guidance range of $385.0M-$415.0M, to a range of $390.0M-$398.0M, which at the midpoint implies 9% growth in FY22 expenses versus the prior year. The Company is also refining its previously stated FY22 capital expenditure guidance range of $58.0M-$62.0M to a range of $48.0M-$52.0M, mainly due to a transition from purchasing to leasing fixed assets and the impact of foreign currency fluctuations year-to-date. The Company is re-confirming that it expects the full year effective tax rate to be at the upper-end of the previously stated range of 24.0% to 26.0%."
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AYLA ADXS | Hot Stocks06:33 EDT Ayala Pharmaceuticals, Advaxis enter merger agreement - Ayala Pharmaceuticals (AYLA) and Advaxis (ADXS) announced that they have entered into a definitive merger agreement. The merger would result in a combined company that will focus predominantly on the development and commercialization of Ayala's lead program AL102 for the treatment of desmoid tumors and Advaxis's candidate ADXS-504 in development for prostate cancer. Subject to the terms and conditions of the merger agreement, at the closing of the merger, each outstanding share of Ayala common stock will be converted into the right to receive shares of common stock of Advaxis based on the exchange ratio set forth in the merger agreement. Upon completion of the merger, Ayala stockholders will own approximately 62.5% of the combined company's outstanding common stock and Advaxis stockholders will own approximately 37.5%, subject to the terms of the merger agreement. Advaxis will, at the effective time of the merger, assume the outstanding restricted stock units and stock options of Ayala, subject to the terms of the merger agreement. No fractional shares will be issued in connection with the merger and Advaxis will pay cash in lieu of any such fractional shares. The merger is intended to qualify for U.S. federal income tax purposes as a tax-free reorganization under the provisions of Section 368(a) of the Internal Revenue Code of 1986, as amended. Consummation of the merger is subject to certain closing conditions, including, among other things, approval by the stockholders of Ayala. At the closing of the merger, Ayala will be delisted from The Nasdaq Global Market. The combined company's common stock is expected to begin trading on the OTCQX at the effective time of the merger, subject to Advaxis' planned efforts to have the stock of the combined company listed on Nasdaq, as to which no assurances can be made.
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PB | Hot Stocks06:33 EDT Prosperity Bancshares increases quarterly dividend 5.77% to 55c per share - Prosperity Bancshares announced that its board of directors declared a quarterly common stock dividend of 55c per share for the fourth quarter of 2022, payable January 3 to shareholders of record as of December 15. The fourth quarter dividend represents an increase of 3c per share, or 5.77%, from the prior quarter.
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AYLA ADXS | Hot Stocks06:31 EDT Ayala Pharmaceuticals, Advaxis enter merger agreement
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GNRC | Hot Stocks06:14 EDT Generac drops 10% to $133.37 after lowering FY22 revenue guidance - The company's Q3 guidance also came in below consensus estimates.
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ZYME JAZZ | Hot Stocks06:10 EDT Zymeworks, Jazz Pharmaceuticals enter licensing agreement for zanidatamab - Zymeworks (ZYME) announced that management will host a conference call and webcast to discuss Zymeworks has entered into an exclusive licensing agreement for zanidatamab, a HER2-targeted bispecific antibody developed using Zymeworks' proprietary Azymetric platform, with Jazz Pharmaceuticals (JAZZ). Zymeworks to receive $50M upfront payment, a second payment of $325M, at Jazz's option, and further potential regulatory and commercial milestones for total potential payments of up to $1.76B.
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GNRC | Hot Stocks06:09 EDT Generac lowers FY22 net sales growth guidance to 22%-24% from 36%-40% - The Company is revising its FY22 net sales growth guidance range to 22%-24% as compared to the prior year, which includes approximately 5%-7% net impact from acquisitions and foreign currency, compared to the previous growth guidance range of 36%-40%. The company said, "Although the Company experienced sequential improvements in key metrics for the home standby category with dealer count, in-home consultations, close rates, activations, and dealer project lead times all improving during the Q3, home standby order headwinds are expected to persist during the Q4 and through the first half of 2023 as distribution partners continue to increase installation capacity and work down their extended backlogs and elevated field inventories. Additionally, the Company now expects net income margin, before deducting for non-controlling interests, to be approximately 9.0%-10.0% for the FY22 compared to the previous guidance of 13.0%-14.0%. This net income guidance includes the impact of the aforementioned $55 million of third quarter pre-tax charges. The corresponding adjusted EBITDA margin is now expected to be approximately 18.0%-19.0% compared to the previous guidance of 21.5%-22.5%."
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BIVI | Hot Stocks06:08 EDT BioVie reports full enrollment in Phase 2 trial of NE3107 - BioVie announced that the company's Phase 2 trial assessing NE3107's potential pro-motoric impact in Parkinson's disease has fully enrolled 44 patients. Topline data readout is expected in December.
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AMZN | Hot Stocks06:07 EDT Amazon launches the Amazon Insurance Store in the U.K. - Amazon announced the launch of the Amazon Insurance Store in the United Kingdom, U.K. "The store offers an improved shopping experience for home insurance with like-for-like quote comparisons that customers can trust, a streamlined and simple quote questionnaire, and a checkout experience integrated with amazon.co.uk," the company said. The Amazon Insurance Store will start rolling out to select customers today, and it will be available to all UK customers by the end of the year. All policies in the Amazon Insurance Store start with the same level of cover, called the Amazon Standard of Cover, which includes protection for some of the most common home insurance claims. Amazon has partnered with three insurance brands for this initial launch: Ageas UK, Co-op, and LV= General Insurance. Amazon will add more insurers to the Amazon Insurance Store early next year.
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JAZZ... | Hot Stocks06:05 EDT Jazz Pharmaceuticals, Zymeworks announce zanidatamab exclusive license agreement - Jazz Pharmaceuticals (JAZZ) and Zymeworks (ZYME) announced that Jazz and Zymeworks' subsidiary, Zymeworks BC, have entered into an exclusive licensing agreement under which Jazz will acquire development and commercialization rights to Zymeworks' zanidatamab across all indications in the United States, Europe, Japan and all other territories except for those Asia/Pacific territories previously licensed by Zymeworks. Zanidatamab, a HER2-targeted bispecific antibody with novel mechanisms of action, has demonstrated anti-tumor activity in several HER2-expressing cancers, both as monotherapy and in combination with chemotherapy and other agents. Zanidatamab is currently in pivotal trials as a second-line treatment for HER2-expressing biliary tract cancer, or BTC, and as a first-line treatment for HER2-positive gastroesophageal adenocarcinoma, or GEA. In BTC, where no HER2-targeted therapies are currently approved, the FDA has granted Breakthrough Therapy designation for zanidatamab, positioning it as a potential first-in-class therapy. Under the terms of the agreement, Jazz will receive an exclusive license to develop and commercialize zanidatamab in the United States, Europe, Japan and all other territories except for those Asia/Pacific territories that Zymeworks previously licensed to BeiGene (BGNE). Zymeworks is eligible to receive a $50M upfront payment, following receipt of the clearance relating to the United States Hart-Scott Rodino Antitrust Improvements Act of 1976 and should Jazz decide to continue the collaboration following readout of the top-line clinical data from HERIZON-BTC-01, a second, one-time payment of $325M. Zymeworks is also eligible to receive up to $525M upon the achievement of certain regulatory milestones and up to $862.5M in potential commercial milestone payments, for total potential payments of up to $1.76B. Pending approval, Zymeworks is eligible to receive tiered royalties between 10% and 20% on Jazz's net sales. Closing of the agreement is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Act of 1976. The transaction is expected to close within the 2022 calendar year. Zymeworks management will host a conference call and webcast for investors and analysts on October 19 at 8:00 a.m. ET.
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ELV | Hot Stocks06:04 EDT Elevance Health reports Q3 operating cash flow $4.9B - Operating cash flow was approximately $4.9B, or 3.1 times net income in the third quarter of 2022, an increase of $2.4B as compared to the prior year quarter. The year-on-year increase was driven by the timing of CMS payments received in the current quarter, partially offset by the BCBSA litigation settlement payment that occurred in the third quarter of 2022.
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ELV | Hot Stocks06:02 EDT Elevance Health reports Medical enrollment of 47.3M members - Medical enrollment increased 2.2M members year-over-year and 232,000 members during the quarter to 47.3M. members.
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FULT | Hot Stocks05:58 EDT Fulton Financial now sees FY22 NII $770M-$780M vs. prior $745M-$760M view - Sees FY22 non-interest income $225M-$230M, in line with its prior view, with non-interest expense of $615M-$620M vs. prior view of $600M-$610M. Sees FY22 effective tax rate 18% plus or minus, in line with its previous view. Comments taken from Q3 earnings conference call presentation slides.
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SPR | Hot Stocks05:35 EDT Spirit AeroSystems enters MOU with Joramco for MRO services cooperation - Spirit AeroSystems announced at MRO Europe in London a memorandum of understanding, or MOU, with Joramco, the Amman-based maintenance, repair, and overhaul, or MRO, provider and the engineering arm of Dubai Aerospace Enterprise, or DAE, to explore cooperation in providing a wide range of repairs to and services of composite and metallic aerostructures to customers in the region. A team of engineers and experts from both companies will be formed to support the needs of operators, and shops, and develop new repair processes as needed. Joramco, based at Queen Alia International Airport in Amman, Jordan, has more than 50 years of experience. It has built a solid track record as a leading independent commercial aircraft maintenance, repair and overhaul facility serving a wide range of customers in the Middle East, Europe, South Asia, and Africa, offering services on several aircraft models. Joramco is certified by many international regulatory authorities including the European Aviation Safety Agency, the U.S. Federal Aviation Administration and the Jordanian Civil Aviation Regulatory Commission.
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NEWR | Hot Stocks05:33 EDT New Relic opens second office in India - New Relic is opening its second office in India, seven months following the opening of its first India office in Bengaluru. The Hyderabad Development Center, a product and engineering hub, will support the fastest-growing talent pool of developers to advance new products across the New Relic observability platform with a focus on core APM and security capabilities, partner integrations, and customer experience.
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BOX | Hot Stocks05:31 EDT Box renews partnership with Japan's Ministry of the Environment - Box announced a renewed partnership with Japan's Ministry of the Environment. With Box, the Ministry of the Environment will digitize and streamline administrative operations contributing to improved productivity and better public services by transforming the work styles of employees. The Ministry of the Environment will also benefit from Box's advanced security features.
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SBUX | Hot Stocks05:24 EDT Starbucks to sell Seattle's Best Coffee brand to Nestle, terms undisclosed - Starbucks announced it plans to sell the Seattle's Best Coffee brand to Nestle, with which the company established the Global Coffee Alliance in 2018. This transaction will further strengthen the Global Coffee Alliance by allowing both companies to focus on their core strengths. Since forming the Global Coffee Alliance in 2018, Nestle and Starbucks have introduced a wide range of premium coffee products to new markets at a fast pace - including whole bean coffee, roast and ground coffee as well as Starbucks capsules for Nespresso and Nescafe Dolce Gusto proprietary systems. Nestle distributes Starbucks consumer products and foodservice beverages across more than 80 markets outside Starbucks retail stores under the Global Coffee Alliance. Through the Global Coffee Alliance, Nestle and Starbucks will continue to closely work together to develop new, innovative products and go-to market strategies to amplify the reach and expand the unique experience of the Starbucks brand locally and globally. The company expects to close this transaction by end of 2022, subject to respective board and customary regulatory approvals. Both companies have agreed to keep the terms of this transaction confidential.
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EGY | Hot Stocks05:22 EDT Vaalco Energy reports Q3 production 9,150 net BOPD, completes Etame FSO - Vaalco Energy announced the completion of the Floating Storage and Offloading vessel, or FSO, installation and field reconfiguration at Etame. Additionally, the company disclosed strong Q3 production which was above the high-end of quarterly guidance and sales volumes that were above the midpoint of quarterly guidance. Additionally, the company reported Vaalco standalone third quarter production and sales volumes both above the midpoint of our guidance ranges. Production for the third quarter was approximately 9,150 net BOPD and sales volumes were approximately 7,952 net BOPD. The company was able to complete three liftings during the quarter plus an additional smaller one on October 5, shortly before the FPSO was decommissioned. The team overlapped the maintenance turnaround with the field reconfiguration to minimize downtime and deliver operating efficiencies. Since the strategic combination with TransGlobe Energy did not close until October 14 production volumes and associated revenues and expenses will not be included in Vaalco's financial results until post-closing in the fourth quarter of 2022. However, the company said that the majority of the transaction costs associated with the strategic combination were incurred in the third quarter and will be recognized as special, one-time expenses in third quarter financial results. The company also expects to incur a realized derivative loss in the third quarter as a result of the settlement of the remaining derivative swaps. Both the transaction costs and realized derivative losses are not deductible for Gabonese taxes, so the effective tax rate will be higher than normal during the third quarter. Additionally, costs associated with the relinquishment of the FPSO and transition to the FSO will be included in the third quarter.
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NOK | Hot Stocks05:16 EDT Nokia expands relationship with NL-ix - Nokia announced its expanded relationship with NL-ix, the largest European distributed internet exchange provider. Nokia will provide its state-of-the-art 7750 SR-s platforms, powered by the FP5, its routing silicon. The deployment will enable NL-ix to begin the rollout of 400GE and 800GE access and interconnection services for its cloud provider and national research and education network customers. This deployment of Nokia's FP5 is one of the earliest in Europe. Its high capacity 400GE and 800GE capability will accelerate NL-ix's ability to meet current and future customer demand for higher speed access and interconnection services at lower costs and with greater power efficiency. FP5 allows the delivery of more than three times the capacity as the Nokia FP4 hardware in the same space and power envelope. The new deployment of the Nokia 7750 SR-14s will enable NL-ix to offer 800GE connectivity and increase the density of 400GE services in any of the more than 100 European data centers in which it operates. The IP deployment complements NL-ix's European-wide low latency optical transport network provided by Nokia in 2021.
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PSFE | Hot Stocks05:13 EDT Paysafe announces new integrated payments partnership with HotelKey - Paysafe announced a new integrated payments partnership with HotelKey, a cloud-based software solution provider for the hospitality industry. Paysafe will integrate with HotelKey's software solutions to streamline payments for U.S. hotels across their front-desk, hospitality, retail, food and beverage, and other back-of-house operations. HotelKey's software solutions are currently deployed across thousands of hotels in the U.S. and are designed to help individual properties and hotel chains, including independently-owned and franchised hotels, manage their end-to-end guest operations. Paysafe will support HotelKey's mission to simplify hotel property management by establishing a centralized hub for payment processing to securely process in-person, card-present and card-not-present transactions across all designated sales channels.
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OLPX | Hot Stocks04:58 EDT Olaplex Holdings announces resignation of COO Tiffany Walden - Olaplex Holdings disclosed last night that on October 16, Tiffany Walden, Chief Operating Officer of the company, resigned from her role as COO as well as a member of the company's board of directors, effective October 18.
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