Stockwinners Market Radar for March 10, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:56 EST Bank of England seeks to place Silicon Valley Bank UK into insolvency - The Bank of England said that "absent any meaningful further information," intends to apply to the Court to place Silicon Valley Bank UK Limited into a "Bank Insolvency Procedure." A Bank Insolvency Procedure would mean that eligible depositors are paid out by the FSCS as quickly as possible up to the protected limit of GBP 85,000 or up to GBP 170,000 for joint accounts. Silicon Valley Bank UK's other assets and liabilities would be managed in the insolvency by the bank liquidators and recoveries distributed to its creditors, the agency said in a statement. "SVBUK has a limited presence in the UK and no critical functions supporting the financial system. In the interim, the firm will stop making payments or accepting deposits," it added.

18:47 EST Aptose Biosciences says immaterial financial exposure to Silicon Valley Bank - Aptose Biosciences (APTO) is aware of reports related to Silicon Valley Bank (SIVB) and questions raised by interested parties. Aptose has not entered into a line of credit with SVB, and therefore has no exposure related to any credit facility. Aptose held a deposit account at SVB with approximately $0.3M in excess of the $250,000 FDIC-insured limit. Aptose does not believe these amounts represent a material portion of its cash and cash equivalents. The company does not expect any material impact on operations, payroll, or ongoing clinical trials. "Non-SVB institutions serve as custodians for investments held in Aptose's name, and we envision no direct exposure to those investments as a consequence of a liquidity concern at SVB."

18:42 EST Dollar Tree CEO buys $1.0M in common stock - In a regulatory filing, Dollar Tree disclosed that its CEO Richard Dreiling bought 7.1K shares of common stock on March 9th in a total transaction size of $1.0M.

18:06 EST Copa Holdings reports February passenger traffic up 5.4% vs February 2019 - Copa Holdings released preliminary passenger traffic statistics for February 2023. Given the irregular nature of the company's operations starting in March 2020 due to the Covid-19 pandemic, the company is comparing this traffic report to 2019 statistics. Consolidated capacity came in 2.6% higher than in February 2019, while passenger traffic increased by 5.4%. As a result, the load factor for the month was 85.9%, 2.3 percentage points higher than in February 2019.

17:39 EST iRhythm provides update on investments with SVB Financial - iRhythm (IRTC) currently has a $35M term loan outstanding with SVB (SIVB). Under the terms of the term loan agreement, this term loan is not callable by SVB outside of an event of default. The company also has a further undrawn $40M available under its term loan facility and $25M under a revolving credit line upon which the company is not reliant for daily operations. The company affirmed its expectation that its cash, cash equivalents, and short-term investments held outside of SVB will be sufficient to operate the company's business and meet its cash requirements for the foreseeable future.

17:35 EST EyePoint says it maintains a 'de minimis' amount of cash with SVB - In a regulatory filing, EyePoint Pharmaceuticals (EYPT) said it currently maintains a de minimis amount of cash, in the single digit millions of U.S. dollars, with Silicon Valley Bank (SIVB). The vast majority of the company's cash and cash equivalents and investments, resides in custodial accounts held by U.S. Bank for which SVB Asset Management is the advisor. As previously disclosed, on March 9, 2022, the company entered into a loan and security agreement among the company, as borrower, and SVB, as lender, providing for a senior secured term loan facility of $30M and a senior secured revolving credit facility of up to $15M. The maximum amount available for borrowing at any time under the Revolving Facility is limited to a borrowing base valuation of our eligible accounts receivable. At this time the company is evaluating future accessibility to the Revolving Facility due to SVB moving into receivership. The company is currently, and at all times have been, in full compliance with the SVB Loan Agreement, including all financial covenants. The Company reaffirms its estimate that its cash, cash equivalents, available for sale securities and committed loan facilities combined with net cash proceeds from its commercial business will be sufficient to fund its planned capital expenditure requirements, debt service obligations and operating expenses into the second half of 2024.

17:33 EST SoFi Technologies says no assets held at Silicon Valley Bank - In a regulatory filing, SoFi Technologies (SOFI) informed its investors that it does not hold assets with Silicon Valley Bank (SIVB). The company has an approximately $40M dollar lending facility that is provided through Silicon Valley Bank, which is unaffected by the Federal Deposit Insurance Corporation's receivership of Silicon Valley Bank.

17:31 EST Ambarella says $17M of deposits held at Silicon Valley Bank - In a regulatory filing, Ambarella (AMBA) said it is aware of reports that the FDIC has taken control of Silicon Valley Bank (SIVB) due to liquidity concerns. As of March 10, the company had deposits with SVB of approximately $17M. The company's total cash, cash equivalents and marketable debt securities on hand at the end of the fourth quarter of fiscal 2023 ended January 31, 2023 was $206.9M.

17:29 EST Vimeo believes it does not have exposure to liquidity concern at SVB - In a regulatory filing, Vimeo (VMEO) said it is aware of reports of the closure of Silicon Valley Bank (SIVB) and appointment of the Federal Deposit Insurance Corporation as receiver. The Company holds accounts at SVB with a total balance of less than $250,000. Therefore, the company believes it does not have exposure to any liquidity concern at SVB. The Company has a well structured and diverse set of banking partners with no bank holding over 25% of its total cash.

17:26 EST QuantumScape says it has very limited exposure to SVB - In a regulatory filing, QuantumScape Corporation said it is aware of the current situation affecting Silicon Valley Bank (SIVB). The Company notes that it has very limited exposure to SVB, with only a low single digit percentage exposure relative to both the Company's total liquidity and total assets.

17:24 EST Silvergate Capital to be deleted from S&P DJ indices - Silvergate Capital has announced its intention to voluntarily liquidate Silvergate Bank and will be deleted from the S&P DJ indices at the discretion of the Index Committee.

17:22 EST Quotient says it does not hold cash deposits, securities at Silicon Valley Bank - In a regulatory filing, Quotient Technology (QUOT) said it is aware of media reports indicating a possible liquidity concern at SVB Financial Group (SVB). Quotient informed its stockholders and other stakeholders in the filing of the following: Quotient does not hold cash deposits or securities at Silicon Valley Bank, the U.S. subsidiary of SVB, and Quotient holds approximately $400,000, at today's exchange rate, at Silicon Valley Bank UK Limited, a U.K. subsidiary of SVB.

17:19 EST Insulet to replace SVB Financial in S&P 500

17:16 EST Roku says deposits at Silicon Valley Bank 'largely uninsured' - In a regulatory filing, Roku (ROKU) said it is aware that Silicon Valley Bank (SIVB) was closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver. According to the FDIC, all insured depositors of SVB will have full access to their insured deposits no later than Monday morning, March 13. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of SVB, future dividend payments may be made to uninsured depositors. The company has total cash and cash equivalents of approximately $1.9B as of March 10. Approximately $487M is held at SVB, which represents approximately 26% of the company's cash and cash equivalents balance as of March 10. Approximately $1.4B of the company's cash and cash equivalents is distributed across multiple large financial institutions. The company's deposits with SVB are largely uninsured. At this time, the company does not know to what extent the company will be able to recover its cash on deposit at SVB. Notwithstanding the closure of SVB, the Company continues to believe that its existing cash and cash equivalents balance and cash flow from operations will be sufficient to meet its working capital, capital expenditures, and material cash requirements from known contractual obligations for the next twelve months and beyond.

17:10 EST Accuray views its exposure to SVB liquidity concern as 'immaterial' - Accuray Incorporated (ARAY) said in a regulatory filing that it is aware of media reports indicating a possible liquidity concern at Silicon Valley Bank (SVB). Accuray considers its exposure to any liquidity concern at SVB as immaterial, given that cash held at SVB is below the FDIC-insured limit of $250,000 and that Accuray holds no securities at SVB.

17:08 EST GlycoMimetics considers SVB exposure 'immaterial' - In a regulatory filing, GlycoMimetics (GLYC) said it currently maintains an account at Silicon Valley Bank (SIVB) holding cash deposits of approximately $2M, which amount the company considers to be immaterial to its liquidity.

17:07 EST Alignment Healthcare chairman Konowiecki buys 100,000 common shares - In a regulatory filing, Alignment Healthcare chairman of the board Joseph Konowiecki disclosed the purchase of 100,000 common shares of the company on March 9 at a price of $6.6161 per share.

17:05 EST X4 Pharmaceuticals says held about 2.5% of cash deposits at SVB - In a filing, the company states: "On March 10, 2023, the Federal Deposit Insurance Corporation issued a press release stating that Silicon Valley Bank, Santa Clara, California, was closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara. At the time of closing, the FDIC as receiver immediately transferred all insured deposits of SVB. As of December 31, 2022, X4 Pharmaceuticals Inc. had approximately 2.5% of its cash deposits with SVB. According to the FDIC, all insured depositors will have full access to their insured deposits no later than Monday, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors."

17:04 EST Wave Life considers direct SVB exposure 'immaterial' - Wave Life Sciences (WVE) said in a regulatory filing that it considers its direct exposure to SVB's (SIVB) receivership as immaterial, given that the aggregate amount of the company's cash and restricted cash held at SVB is approximately $1.5M, which is $1.25M in excess of the FDIC-insured amount of $250,000.

17:02 EST NeuroOne says it does not hold cash deposits, securities at Silicon Valley Bank - In a regulatory filing, NeuroOne Medical Technologies Corporation (NMTC) said to its investors that it does not hold cash deposits or securities at Silicon Valley Bank (SIVB).

17:01 EST Repare Therapeutics says less than 2% of cash, equivalents held at SVB - In a regulatory filing, Repare Therapeutics (RPTX) announced that as of December 31, 2022, the company had cash, cash equivalents and marketable securities of $343.9M. As of March 9, the company had less than 2% of its cash, cash equivalents and marketable securities with Silicon Valley Bank (SIVB).

16:58 EST Allogene Therapeutics says no deposits, securities held at Silicon Valley Bank - In a regulatory 8-K filing, the company states: "Allogene Therapeutics, Inc. informs its investors that it does not hold cash deposits or securities at Silicon Valley Bank."

16:56 EST Vincerx Pharma says it does not hold deposits, securities at Silicon Valley Bank - In a regulatory filing, Vincerx Pharma (VINC) told its investors that it does not hold any deposits or securities or maintain any accounts at Silicon Valley Bank (SIVB).

16:54 EST Cardiff Oncology says no deposits held at Silicon Valley Bank - In a regulatory 8-K filing, the company states: "On March 10, 2023, DiaMedica Therapeutics Inc. announced that it does not hold cash deposits or securities at Silicon Valley Bank."

16:53 EST DiaMedica Therapeutics says does not hold deposits at Silicon Valley Bank - In a regulatory 8-K filing, the company states: "On March 10, 2023, DiaMedica Therapeutics Inc. announced that it does not hold cash deposits or securities at Silicon Valley Bank."

16:51 EST Icahn Enterprises raises Southwest Gas stake to 12.64% from 9.9% - In a regulatory filing, Icahn Enterprises (IEP) disclosed a 12.64% stake in Southwest Gas (SWX), representing 8,944,465 shares. Icahn previously reported a 9.9% stake in October 2022. The filing allows for activism.

16:50 EST AcuityAds Holdings trading resumes

16:47 EST MacroGenics informs investors of no exposure to Silicon Valley Bank - MacroGenics (MGNX) informed its investors that it does not hold cash deposits or securities at Silicon Valley Bank (SIVB).

16:45 EST Precision BioSciences informs investors of no exposure to Silicon Valley Bank - In a regulatory filing, Precision BioSciences (DTIL) informed its investors that it does not have exposure to Silicon Valley Bank (SVB). The company does not hold cash deposits or securities with Silicon Valley Bank, and does not otherwise have a business relationship with Silicon Valley Bank.

16:43 EST Syros Pharmaceuticals confirms two deposit accounts at Silicon Valley Bank - In a regulatory filing, Syros Pharmaceuticals (SYRS) disclosed that, as of March 10, it has two deposit accounts at Silicon Valley Bank. One of these accounts has a balance of less than $250,000, and the other has a balance of approximately $3.1M pursuant to a letter of credit that the company was required to provide to its landlord in connection with the execution of the lease for its corporate headquarters, which amount is classified as restricted cash on the company's consolidated balance sheet as of December 31, 2022. The company reaffirms its estimate that its cash, cash equivalents and marketable securities will be sufficient to fund its planned operating expense and capital expenditure requirements into the second quarter of 2025.

16:36 EST Horizon Bancorp discloses receipt of Nasdaq notice - Horizon Bancorp said that, on March 6, it received a letter from The NASDAQ Stock Market LLC indicating that, as a result of not having timely filed its Annual Report on Form 10-K for the year ended December 31, 2022 by March 1, 2023 with the Securities and Exchange Commission, the company is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the SEC. This notice from NASDAQ has no immediate effect on the listing of the company's common stock on the NASDAQ Global Select Market. The company has 60 days within which to submit a plan to NASDAQ showing how it intends to regain compliance. The company intends to file its 2022 Form 10-K as soon as possible, and thereafter, believes it will be in compliance with all of the NASDAQ continued listing requirements.

16:34 EST AcuityAds says trading halt requested by company amid SVB situation - AcuityAds Holdings Inc. (ATY) announced that the trading of securities of the company was halted at the request of the Company on March 10, 2023 as a result of the unfolding situation with Silicon Valley Bank (SIVB), at which bank the company maintains certain of its bank accounts. This morning, the California Department of Financial Protection and Innovation announced that it has taken possession of Silicon Valley Bank, citing inadequate liquidity and insolvency. The DFPI appointed the Federal Deposit Insurance Corporation as receiver of SVB. The company maintains U.S. bank accounts with SVB which amount to $55M on deposit. The company maintains bank accounts outside of SVB which amount to C$6.7M. Such available cash will be used to support continuing operations. AcuityAds will update investors once the amount of the advance dividend is determined by the FDIC. Based on the FDIC news release, the company expects to receive this news next week.

16:17 EST Ball Corp. board names Daniel Fisher chairman - Ball Corporation elected Daniel W. Fisher, the company's president and chief executive officer, as chairman of the board, effective at the annual shareholders meeting on Wednesday, April 26. John A. Hayes, who has served as chairman since 2013, will not seek re-election to the board. Fisher has been president of Ball Corporation and a board member since January 2021 and, in early 2022, assumed the role of CEO. He has 13 years of executive leadership experience at Ball in a variety of positions, including senior vice president and chief operating officer of the global beverage business from 2016 to 2021, and president of the North and Central America beverage business during the Rexam acquisition, after ever-increasing roles of responsibility within the North and Central America beverage business. When he was named president of Ball Corporation in 2021, he assumed responsibility for the company's aerospace, aluminum aerosol and aluminum cups businesses. "Since joining Ball in 2010, Dan has proven himself as a driven, visionary leader who is dedicated to achieving our Drive for 10 vision, delivering strong financial and operational results, and nurturing a strong culture where our employees thrive on making a difference for our customers and communities through sustainability and innovation," said Stuart Taylor, lead independent director of Ball's board of directors. "Since becoming CEO in 2022, Dan's leadership has been critical in navigating Ball through a challenging macroeconomic and geopolitical environment, and we continue to be optimistic about our future under his direction. We also want to thank John for serving as chairman of the board for the past decade."

16:15 EST Prothena says no cash deposits or securities at Silicon Valley Bank - In a regulatory filing, the company stated that, "it does not hold cash deposits or securities at Silicon Valley Bank ."

16:09 EST Dunxin Financial receives noncompliance notification from Nasdaq - Dunxin Financial announced that it had received a deficiency letter from NYSE American on March 6 stating that the company is not in compliance with the continued listing standards as set forth in Section 1003 of the NYSE American company guide. The letter stated that because the company's ADSs had been trading for a low price per share for a substantial period of time, the company was not in compliance with Section 1003 of the company guide.

16:00 EST Karuna says maintains 'de minimis amount' of cash, equivalents with SVB - In a regulatory filing, Karuna Therapeutics (KRTX) said the company is "aware of media reports indicating the closure of Silicon Valley Bank, or 'SVB,' and the appointment of the Federal Deposit Insurance Corporation as receiver. The company maintains a de minimis amount of cash and cash equivalents, less than one million U.S. dollars in excess of the FDIC standard deposit insurance limit, with SVB."

15:53 EST Aehr Test Systems believes 'no impact' to operations due to closure of SVB - Aehr Test Systems (AEHR) provided comments on the news today of the closure by regulators of Silicon Valley Bank, or "SVB," with Gayn Erickson, President and CEO of Aehr Test Systems, commenting: "There's been a lot of questions related to the closure of SVB today and the exposure of Aehr Test Systems. Aehr Test does have a checking account at SVB with a current balance of under $2.5 million, which is less than 6% of our total of $41.8M in cash and short-term liquid assets. Aehr has over $39.3 million in another financial institution which includes over $9.7 million in cash and $29.6 million in short term US Government backed Treasury Bonds. Aehr has no outstanding balance on its line of credit with Silicon Valley Bank and foresees no need to draw on the line in the near future. Aehr believes that there is no impact to our operations, customers, vendors, or employees. We are taking all appropriate steps to prevent any impact on our operations."

15:44 EST Protagonist views exposure to liquidity concern at SVB as 'limited' - Protagonist Therapeutics (PTGX) said in a regulatory filing that it is aware of the current situation affecting Silicon Valley Bank (SIVB). Protagonist considers its exposure to any liquidity concern at SVB to be limited, given that cash held at SVB is approximately $13 million as of March 9, 2023. Multiple institutions serve as custodians for approximately $218 million of third-party investments held in Protagonist's name which are not directly exposed to any consequences of a liquidity concern at SVB.

15:39 EST BioLife Solutions reports 'immaterial financial exposure' to Silicon Valley Bank - BioLife Solutions (BLFS) provided commentary on its current banking relationship with Silicon Valley Bank (SIVB). "BioLife is monitoring the situation at SVB carefully and does not believe there is any current risk to its business. BioLife's deposit accounts held at SVB in excess of the $250,000 FDIC-insured limits are less than $1 million which the company does not believe is a material portion of its cash and cash equivalents. Multiple institutions serve as custodians for third-party investments held in BioLife's name, and those investments are not directly exposed to any consequences of a liquidity concern at SVB. Additionally, BioLife is assessing the implications of SVB's receivership of the company's credit facility with SVB but does not foresee any near-term needs to draw amounts under the facility," the company stated in a press release.

15:38 EST Omeros confirms absence of financial exposure to Silicon Valley Bank - Omeros (OMER), in response to investor inquiries, is confirming that it has no banking or other financial relationship with Silicon Valley Bank (SIVB). Omeros previously maintained a line of credit with Silicon Valley Bank, which the company allowed to expire in August 2022. Omeros does not have any assets on deposit with Silicon Valley Bank, nor does the company maintain any other financial relationship with the bank or its affiliated entities.

15:22 EST Sunrun says has less than $80M of cash deposits with SVB - Sunrun (RUN) issued a statement regarding the situation with Silicon Valley Bank (SIVB), stating: "While we are continuing to evaluate the situation and assess Sunrun's potential exposure, the company has estimated exposure to include the following: SVB is a lender in Sunrun's parent $600 million recourse credit facility which includes Letters of Credit along with the company's $1.8 billion non-recourse senior aggregation warehouse facility. Both facilities have a diverse group of banks involved. The recourse credit facility has 13 lenders and the non-recourse senior aggregation warehouse facility has 9 lenders. These facilities are relatively utilized as one can see in our latest filings with the SEC. The recourse credit facility was fully utilized at the end of the quarter and continues to be. The $1.8 billion non-recourse senior aggregation warehouse facility currently has approximately $710 million undrawn, subject to additional asset contributions increasing the borrowing base, of which SVB's undrawn commitment was approximately $40 million. While SVB is a facilitator of interest rate hedges, i.e., interest rates swaps, to our knowledge they are not ultimately the backer of these derivatives, as they involve numerous other large banks. As such, we do not expect material exposure to SVB from our interest rate hedging activities, although we will continue to evaluate the legal structures associated with these derivatives. SVB represents a small percentage of our overall hedging facilities as measured by notional value of less than 15%. SVB is not a tax equity provider to Sunrun, nor is SVB a tax equity provider to the industry, to our knowledge. Sunrun has long-standing banking relationships with multiple institutions, one of which is SVB. As of today, Sunrun has less than $80 million of cash deposits with SVB and will have more information on expected recovery next week, as noted by the FDIC statement issued today. We will continue to evaluate Sunrun's exposure in other areas of the business, for instance, potential impacts to our commercial and strategic partners." Reference Link

15:01 EST Vintage Wine Estates announces sale of Tenma Vineyard - Vintage Wine Estates reported the sale of the Tenma Vineyard in Calistoga, California. On March 2, the company completed the sale of the entire 42 acres of the Tenma Vineyard for net cash proceeds of approximately $11M. Proceeds from the sale will be used to reduce outstanding debt. Subsequent to this sale, the company owns and leases approximately 2,400 total vineyard acres of which the company owns approximately 1,600 vineyard acres. In conjunction with the sale of the vineyard, VWE entered into a grape purchase agreement for up to 15 tons of cabernet sauvignon grapes per year at no cost in the first year. In addition, the company has licensed the rights to the Tenma Vineyard brand and trademark. Jon Moramarco, Interim CEO, commented, "The Tenma Vineyard sale demonstrates our ongoing commitment to monetize assets in an effort to reduce debt and provide us with additional financial flexibility. We will continue to pursue more of these initiatives where the economics are beneficial, as part of our recently announced business realignment plan."

13:48 EST Sony says 'Hogwarts Legacy' most downloaded PS5 game in February - Sony (SONY) said that Warner Bros. Discovery's (WBD) "Hogwarts Legacy" was the most-downloaded PlayStation 5 game in February in the U.S., Canada, and European Union. Other top-selling titles, downloads only, on PS5 for the month in the U.S. and Canada were Take-Two's (TTWO) "NBA 2K23" and "Grand Theft Auto V," EA's (EA) "FIFA 23" and "Madden NFL 23," and Activision Blizzard's (ATVI) "Call of Duty: Modern Warfare II." In the EU, the top sellers were also "GTA V," "FIFA 23," "Modern Warfare II," and Sony's "Gran Turismo 7." Reference Link

13:31 EST Orion Group announces contract wins totaling $134M - Orion Group announced multiple contract awards totaling $134M, with the majority of this work to be completed in 2023. Since the beginning of 2023, the Concrete segment has been awarded $100M across several contracts including $25M for a 22-story high-rise building in Houston, $12M for a Dallas hospital, and $10M for a Dallas packaging center. The Marine segment was awarded the Company's largest diving services contract of $20M by a private client. The project is in support of the US Army Corps of Engineers' ongoing deepening and widening of Gulf Coast shipping channels. The contract award is the largest diving contract in Orion's history and will be completed by the end of 2023. For this project, Orion's specialty divers will remove 31 pipelines from the ship channel floor. In addition, the Marine segment has been awarded contract wins on several projects totaling $14M and was the bid winner on a $7M dredging procurement by the US Army Corps of Engineers in the Gulf of Mexico.

13:01 EST Baker Hughes reports U.S. rig count down 3 to 746 rigs

12:52 EST Luxor 'disappointed' in results of preliminary Ritchie Bros-IAA merger vote - Luxor Capital Group, the manager of funds owning 4.7M shares of Ritchie Bros. Auctioneers (RBA), representing approximately 4.2% of the company's outstanding shares, announced that preliminary results, as of the proxy deadline and tabulated by Luxor's proxy solicitor, show that approximately 43M shares, or 46% of votes cast, voted to defeat the proposed merger with IAA (IAA) in connection with the March 14 special meeting of shareholders. "Despite our best efforts on behalf of all shareholders, and our disappointment in the outcome, we wish the company well with its integration of IAA. Luxor would like to thank Ritchie Bros. shareholders for supporting our fact-based campaign, and exercising their responsibilities as engaged fellow owners. We would also like to thank both ISS and Glass Lewis for their comprehensive analysis," said Doug Snyder, President of Luxor.

12:46 EST Tutor Perini announces Accelerate Maryland Partners won't proceed with project - Tutor Perini Corporation announced that it has been advised that Accelerate Maryland Partners LLC will no longer be proceeding with the Maryland Express Lanes Project, previously referred to as Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan. The company announced in September 2022 that it had been selected by AM Partners as the design and construction contractor for this multi-billion-dollar project. The company believes that it may have an opportunity to pursue this project again at a future date, it said in a statement.

12:35 EST Western Alliance updates financial figures in wake up industry developments - Western Alliance Bank, in light of recent industry events, updates the following financial information: Deposits remain strong with the following balances, as of 3/9/2023: Total deposits of $61.5 billion, an increase of $7.8 billion since year end, led by our deposit verticals of Settlement Services, Home Owner Associations and Mortgage Warehouse. The company expects deposits to moderately decline from these levels by quarter end due to typical seasonal and monthly activity. Total technology-related deposits of $6.5 billion, which are down $201 million quarter to date, as of 3/9/2023. Total Equity Fund Resources & Life Sciences deposits of $1.5 billion, which are up $118 million quarter to date, as of 3/9/2023. Liquidity remains robust with available liquidity, as of 3/9/2023: Cash held on balance sheet of approximately $2.5 billion, as of 3/9/2023. Fully collateralized credit facility from the Federal Home Loan Bank of San Francisco of $13.1 billion with a $0 balance, as of 3/9/2023. Uncommitted credit lines from various financial institutions of $4.6 billion with a $198 million balance, as of 3/9/2023. Capital remains strong with CET1 of 9.32%, as of 12/31/2022. "We expect CET1 to continue to rise from year end levels to 9.5% or higher at first quarter end," Western Alliance said. "Asset quality remains excellent, and we have experienced no significant changes since year end, including classified assets, non-performing assets, and charge-offs Furthermore, Western Alliance affirms its full-year deposit growth guidance of 13% - 17%."

12:04 EST Trinity Industries acquires RSI Logistics for $70M - RSI Logistics announced that it has been acquired by Trinity Industries, effective March 8th, 2023 for a purchase price of $70M. The companies said, "The acquisition highlights numerous synergies between RSI Logistics and Trinity Industries that make the acquisition a strategic move for both companies. The combination of RSI's industry leading rail technology, logistics services and bulk terminal network, with Trinity's railcar manufacturing and leasing, technology, and maintenance service combine for a powerful solution for shippers. RSI and Trinity anticipate the creation of new opportunities for growth, innovation, and improved services to our customers."

12:00 EST Western Alliance falls -20.3% - Western Alliance is down -20.3%, or -$12.66 to $49.70.

12:00 EST HCI Group rises 11.6% - HCI Group is up 11.6%, or $6.10 to $58.79.

12:00 EST Solo Brands rises 17.9% - Solo Brands is up 17.9%, or 81c to $5.34.

11:42 EST FDIC creates DINB to protect insured depositors of Silicon Valley Bank - Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation, or FDIC, as receiver, the agency announced. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara or DINB. At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank. All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, the FDIC announced. "The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors. Silicon Valley Bank had 17 branches in California and Massachusetts. The main office and all branches of Silicon Valley Bank will reopen on Monday, March 13, 2023. The DINB will maintain Silicon Valley Bank's normal business hours. Banking activities will resume no later than Monday, March 13, including on-line banking and other services. Silicon Valley Bank's official checks will continue to clear. Under the Federal Deposit Insurance Act, the FDIC may create a DINB to ensure that customers have continued access to their insured funds," the agency announced. Reference Link

11:33 EST First Republic says deposit base 'strong and very-well diversified' - First Republic Bank in a regulatory filing reiterates its "continued safety and stability and strong capital and liquidity positions." The bank said, "First Republic's deposit base is strong and very-well diversified. Consumer deposits have an average account size of less than $200,000 and business deposits have an average account size of less than $500,000. Within business deposits, no one sector represents more than 9% of total deposits, with the largest being diversified real estate. Technology-related deposits represent only 4% of total deposits. First Republic's liquidity position remains very strong. Sources beyond a well-diversified deposit base include over $60 billion of available, unused borrowing capacity at the Federal Home Loan Bank and the Federal Reserve Bank. First Republic's very high-quality investment portfolio is stable and represents a modest percentage of total bank assets. The investment portfolio is less than 15% of total bank assets. Of this, less than 2% of total bank assets is categorized as available for sale...First Republic has a long-standing track record of exceptional credit quality. Nonperforming assets are only 6 basis points of total assets. Since 2000, First Republic's average annual net charge-offs have been just 1/10th those of the top U.S. Banks."

11:12 EST Silicon Valley Bank UK says balance sheet separate from SVB Financial - Silicon Valley Bank UK confirmed to its clients, partners and external stakeholders its financial position as a standalone independent banking institution that is regulated and governed by the Prudential Regulation Authority in the U.K. The company said in a statement: "Silicon Valley bank UK has been an independent subsidiary since August 2022 with a separate balance sheet to the SVB Financial Group and an independent UK Board of directors. Silicon Valley Bank UK fully abides by the UK regulatory requirements as covered by the Financial Services Compensation Scheme and by the Financial Ombudsman Service. SVB UK, Ltd. is ring-fenced from the parent and its other subsidiaries." Reference Link

11:03 EST Moderna expands U.S. presence, plans to hire 2,000 by end of 2023 - Moderna announced that it is expanding its U.S. presence and establishing a corporate presence on the West Coast with new offices in South San Francisco, California and Seattle, Washington. Moderna's Seattle location will provide technology solutions across the enterprise and Moderna Genomics will expand to South San Francisco. Moderna also plans to hire approximately 2,000 new employees globally by the end of 2023. Moderna's West Coast presence joins additional U.S. locations in Cambridge, Massachusetts; Norwood, Massachusetts; Atlanta, Georgia; Bethesda, Maryland; and Princeton, New Jersey. Moderna's new office in Seattle will provide technology solutions across the enterprise and further scale the implementation of artificial intelligence and cloud-based tools across the platform by capitalizing on the region's existing technology talent. The Company is hiring Technical Program Managers, Product Managers and Software Development Engineers.

10:03 EST WynnBET launches online sportsbook in Massachusetts - WynnBET announced that its online sports betting platform is live in the Commonwealth of Massachusetts. Players can download WynnBET on the Apple and Google Play Stores or register for an account at www.wynnbet.com/ma.

10:00 EST Western Alliance falls -26.9% - Western Alliance is down -26.9%, or -$16.76 to $45.60.

10:00 EST DRDGold rises 9.2% - DRDGold is up 9.2%, or 62c to $7.39.

10:00 EST PlayAGS rises 21.1% - PlayAGS is up 21.1%, or $1.34 to $7.69.

09:47 EST JinkoSolar falls -14.4% - JinkoSolar is down -14.4%, or -$8.10 to $48.06.

09:47 EST First Republic falls -31.2% - First Republic is down -31.2%, or -$29.98 to $66.03.

09:47 EST Silvergate Capital rises 11.4% - Silvergate Capital is up 11.4%, or 33c to $3.17.

09:45 EST Meihua International Medical Tech Co Ltd trading resumes

09:43 EST First Republic again halted for volatility after shares drop 45%

09:40 EST Signature Bank trading resumes

09:38 EST Western Alliance trading resumes

09:36 EST First Republic trading resumes

09:35 EST Signature Bank trading halted, volatility trading pause

09:33 EST Western Alliance trading halted, volatility trading pause

09:31 EST Mondee Holdings Inc trading halted, volatility trading pause

09:30 EST PacWest Bancorp trading halted, volatility trading pause

09:07 EST Astra Space investigates short selling activity - Astra Space announced that it is taking steps to proactively review stockholder ownership of Astra's Class A common stock in an effort to identify parties to suspicious, aberrant or unusual trading activity and deploy corrective action steps to help curtail any such activity. As part of its ongoing corporate governance efforts, Astra has engaged ShareIntel-Shareholder Intelligence Services to assist with this review and analysis. ShareIntel's service offerings will provide Astra with access and insight into broker-dealer, clearing firm and stockholder position movement that are designed to help coordinate, monitor and enhance corporate governance, stockholder communication, regulatory compliance and surveillance of trading in Astra's shares.

09:04 EST LiveOne's PodcastOne partners with AI-driven Seekr - PodcastOne, a podcast platform and a subsidiary of LiveOne, announced that it has reached an agreement with Seekr. The partnership will enable PodcastOne to ensure brand suitability for its advertising partners. Seekr's machine learning platform employs natural language processing to rapidly evaluate and score content for safety and reliability. Once fully implemented, the initial beneficiaries of Seekr's technology will be existing PodcastOne business partners. The full spectrum of PodcastOne's podcasts will be evaluated and rated instantly to help determine the most impactful places to drive brand visibility and be heard in the moment. Additionally, PodcastOne podcasts will have direct connectivity toSeekr.com, an independent search engine that rates content using AI, allowing PodcastOne listeners to leverage Seekr's proprietary technology and patented search capabilities.

09:00 EST Zijin Mining, Xanadu complete transaction, commence Kharmagtai PFS - Xanadu Mines announced the completion on 10 March 2023 of Phase 2 and Phase 3 of its Strategic Partnership with Zijin Mining Group. This provides crucial funding for the Company's flagship Kharmagtai Copper-Gold Project through the next phase of project evaluation and exploration, leading to formal Decision to Mine. It will also provide funding to Xanadu for activities outside of Kharmagtai such as our second project at Red Mountain. Xanadu also announces the appointment of Mr Shaoyang Shen as a non-executive director, having been nominated by Zijin in accordance with the Phase 2 Share Subscription Agreement. Highlights: Completed A$7.164,645.28 million placement for 179,116,132 Xanadu shares at $0.04 per share, a 33% premium on the latest market close price, increasing Zijin shareholding to 19.42% of Xanadu. US$35 million invested directly into the Kharmagtai project creating a 50/50 Joint Venture at the project level. Kharmagtai Pre-Feasibility Study and Discovery Exploration have now commenced, with data acquisition drilling underway. PFS will evaluate growth-focussed opportunities in Mining & Processing Technologies and higher-grade focussed Discovery Exploration, aimed at materially upgrading the base case Scoping Study. Xanadu is Operator of the JV with an 18-month plan to complete the PFS. Post PFS, Xanadu has options to independently fund its share of construction, sell its 50% share of the JV to Zijin for US$50M, or sell half its share of the JV to Zijin for US$25M plus a zero cash loan carry for the remaining 25% to commercial production.

08:47 EST SVB Financial trading halted, news pending

08:32 EST Ecoark Holdings to change name to BitNile Metaverse - Ecoark Holdings (ZEST) announced its plan to rename the company to "BitNile Metaverse Inc.", and change its stock ticker symbol to "BNMV". The name and ticker symbol change are subject to regulatory approval and are expected to be completed within the next 10 trading days. The plan to change the Company's name and stock ticker are a planned next step after the Company's recent acquisition of BitNile.com from Ault Alliance (AULT). Milton Ault, III, Ault Alliance's Executive Chairman, stated, "The recent challenges that other device-based metaverses have encountered with user adoption are a clear indicator that the BITNILE.COM metaverse platform chose the correct path as a device-agnostic browser-based metaverse. We are excited to continue growing our user base and have numerous new offerings and enhancements we plan to be announcing in the coming weeks in the BitNile Metaverse."

08:32 EST Marriott approved to complete City Express brand acquisition - Marriott International announced that it has received approval from Mexico's Federal Economic Competition Commission, COFECE, for the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V., paving the way for the company's entry into the affordable midscale segment. Marriott expects that the transaction, originally announced in October 2022, could close in the second quarter, subject to the satisfaction of other customary closing conditions.

08:31 EST T. Rowe Price reports preliminary AUM $1.31T at February 28 - Preliminary net outflows for February 2023 were $5.9B.

08:16 EST Dirtt Environmental announces transfer to the Nasdaq Capital Market - DIRTT Environmental Solutions announced that it has been notified by the Nasdaq Stock Market that the Company is eligible for an additional 180 calendar day period, or until September 5, 2023, to regain compliance with the Nasdaq Listing Rule 5450(a)(1). If at any time during this time period the closing bid price of the Company's common shares is at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance and the matter will be closed. In connection with the foregoing, the Company's common shares were transferred to the Nasdaq Capital Market at the opening of business on March 9, 2023. The Company remains confident in future growth opportunities as discussed on the February 23, 2023 earnings call. Business operations are not affected by the receipt of the notification or the transfer of its common shares to the Nasdaq Capital Market.

08:10 EST Mill City Ventures III makes $1.2M short-term loan - Mill City Ventures III announced it has completed the financing of a $1.2M loan. The related short-term promissory note matures in 120 days and is expected to generate a 33.6% annualized return. The short-term note is secured by assets related to the borrower's finance business.

08:09 EST Zscaler appoints Sunderland as SVP, Worldwide Partners, Alliances - Zscaler (ZS) announced that Karl Soderlund has been appointed as the company's Senior Vice President, SVP, Worldwide Partners, and Alliances. In his role at Zscaler, Soderlund will be responsible for advancing and modernizing the Zscaler partner program by developing and executing a competitive go-to-market strategy, and leading a world-class channel team. Soderlund joins Zscaler from Palo Alto Networks (PANW) where he served as a Senior Vice President.

08:08 EST ProSomnus announces acceptance of abstract at ERS and ESRS Conference - ProSomnus announced that an abstract showcasing data from a study comparing the efficacy of Precision Oral Appliance Therapy and traditional OAT has been accepted for a Thematic Poster Session at the European Respiratory Society and European Sleep Research Society's Sleep and Breathing 2023 Conference, being held from April 20-22 in Prague, Czech Republic. Dr. Shouresh Charkhandeh, BMedSc, DDS, is scheduled to present the data in a session titled, "Pharmacological and non-pharmacological treatment and lifestyle interventions in sleep disordered breathing," on Thursday, April 20 at 2:00 p.m. Central European Time/8:00 a.m. Eastern Time. ProSomnus's FDA-cleared, Precision OAT devices are a practical alternative to legacy oral devices and CPAP machines. In clinical studies, ProSomnus devices have demonstrated excellent efficacy and robust patient compliance relative to other treatment options. They reposition and stabilize the jaw during sleep, improving airflow through a patient's pharyngeal space. ProSomnus Precision OAT devices consist of maxillary and mandibular aligners that are precision-manufactured with twin-mated posts, and are digitally milled to be patient-specific. Prescribed advancements can be achieved by removing the current upper- or lower-device arch and inserting the next arch in the mandibular advancement series.

08:07 EST authID adds four non-executive directors to board - authID introduced four new non-executive Directors to Company shareholders and stakeholders. The new appointments reinforce the Board's leadership and revenue growth experience as the Company works to expand its business pipeline of innovative identity services to additional enterprise customers across fintech, healthcare, technology, and other market segments. Joining current non-executive Directors Michael Koehneman, Joe Trelin and Jacqueline White, the new Directors are: Rhon Daguro, Former Chief Revenue Officer of Socure Inc.; Ken Jisser, President of The Pipeline Group Inc.; Thomas Szoke, Founder and Former Officer of authID Inc.; Michael Thompson, Partner, Hemingway Capital.

08:04 EST Crown Electrokinetics requests hearing before Nasdaq Hearings Panel - Crown Electrokinetics provided investors with an update on its Nasdaq listing status. As previously disclosed, on September 1, 2022, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price of the Company's common stock had been below $1.00 per share for 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was granted a period of 180 calendar days, or until February 28, 2023, to regain compliance with the minimum bid price requirement. On March 1, 2023, the Company received a letter from the Staff of Nasdaq notifying the Company that it had not regained compliance with the minimum bid price requirement as of February 28, 2023, and that it would need to request a hearing to seek a further extension of time. Accordingly, the Company has a requested a hearing before a Nasdaq Hearings Panel. As a result, all suspension and delisting action has been stayed pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing. In that regard, the Panel has the discretion to grant the Company a further extension not to exceed September 5, 2023. Notwithstanding, there can be no assurance that the Panel will grant the Company's request or that the Company will ultimately regain compliance with all applicable requirements for continued listing.

07:52 EST TicketSmarter continues partnership with Spartan Race, PFL - TicketSmarter, a subsidiary of Digital Ally, continues its partnership with Spartan Race and the Professional Fighters League, in which TicketSmarter is the official ticketing partner.

07:33 EST American Shared Hospital names Stachowiak executive chairman, Gaccione CEO - American Shared Hospital Services announced several important management changes, all effective as of March 7, 2023. Ray Stachowiak will become the Company's Executive Chairman. He has served as CEO since October 2020 and previously served as Interim President and CEO from May 2020. He joined the board of directors in 2009 and is the Company's largest shareholder, holding approximately 19.95% of issued and outstanding common shares. Peter Gaccione has been appointed as CEO He currently serves as COO.

07:16 EST Loyalty Ventures files Chapter 11 Bankruptcy, to delist from Nasdaq - Loyalty Ventures (LYLT) and certain of its subsidiaries filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas. In addition, LoyaltyOne, Co., a subsidiary of the company, sought protection under the Companies' Creditors Arrangement Act with the Ontario Superior Court of Justice. In connection with the CCAA proceedings, LoyaltyOne filed motions seeking Canadian Court approval under the CCAA of a sale and investment solicitation process. Under the SISP, interested parties would be invited to participate in a sale process in accordance with the SISP procedures. Concurrent with the issuance of this press release, Bank of Montreal (BMO), and its subsidiaries BMO Financial Corp. and BMO Harris Bank N.A , announced BMO's entry into a purchase agreement with LoyaltyOne pursuant to which BMO will acquire LoyaltyOne's AIR MILES Reward Program business. The consummation of the sale transaction is conditioned upon LoyaltyOne not receiving a more favorable offer from another party in accordance with the SISP, and other customary closing conditions. The company believes that BMO's acquisition of AIR MILES would secure the program and better position AIR MILES to continue delivering its leading loyalty program to nearly 10M Canadian collectors. In connection with the chapter 11 cases, the company has filed customary motions authorizing it to proceed with its operations in the ordinary course. Subject to approval of the Canadian Court, LoyaltyOne, as borrower, will enter into a debtor-in-possession facility with an affiliate of BMO, as lender, pursuant to which the lender will make available to LoyaltyOne a non-revolving secured credit facility in the amount of $70M. Subject to the approval of the Bankruptcy Court and the Canadian Court, the company, as borrower, and LoyaltyOne, as lender, will enter into an intercompany DIP facility. The company currently expects that the intercompany DIP facility will provide sufficient liquidity to meet its financial obligations during the duration of the chapter 11 cases. The decision to file for chapter 11 was made after a careful evaluation of the company's financial situation and a determination that it is in the best interests of the Company and its stakeholders.

07:09 EST Black Diamond Group announces renewal of normal course issuer bid - Black Diamond Group announces that it has obtained approval from the Toronto Stock Exchange to renew its normal course issuer bid with respect to its common shares. The NCIB will commence on March 14, 2023, and will terminate on the earlier of March 13, 2024, the date on which the Company has purchased the maximum number of Common Shares permitted under the NCIB or the date on which the NCIB is terminated. Under the NCIB, the Company may, over a 12-month period commencing on March 14, 2023, purchase in the normal course through the facilities of the TSX or alternative trading systems, if eligible, up to 4,395,507 Common Shares, such amount representing 10% of the public float of the Common Shares and approximately 7.3% of the 60,375,770 issued and outstanding Common Shares. Furthermore, subject to certain exemptions for block purchases, the maximum number of Common Shares that the Company may acquire on any one trading day is 12,464 Common Shares, such amount representing 25% of the average daily trading volume of the Common Shares of 49,859 for the six calendar months prior to the start of the NCIB. All Common Shares purchased by the Company under the NCIB will be cancelled. Management of Black Diamond believes that, from time to time, the market price of the Common Shares may not fully reflect the underlying value of the Common Shares and that at such time the purchase of the Common Shares represents attractive investment value and would be in the best interests of Black Diamond. The purchase of Common Shares by Black Diamond will increase the proportionate interest of, and be advantageous to, all remaining shareholders. During the prior NCIB of the Company, which will terminate on March 13, 2023, the Company obtained approval to purchase 4,324,520 Common Shares, and purchased 551,600 Common Shares at a weighted average price of approximately $3.99 per Common Share through the facilities of the TSX and alternative trading systems. The Company has engaged Raymond James Ltd. to act as broker and to administer the NCIB.

07:07 EST Sol-Gel Technologies expects cash to fund requirements into 2H25 - As of December 31, 2022, Sol-Gel had $24.9M in cash, cash equivalents and bank deposits, and $8.7 million in marketable securities for a total balance of $33.6M. Following the $22.8M raised in the recent financing, the Company expects that its cash resources will enable funding of operational and capital expenditure requirements into the second half of 2025.

07:05 EST Bank of Montreal to acquire LoyaltyOne's AIR MILES Reward Program business - BMO (BMO) and LoyaltyOne, Co., a subsidiary of Loyalty Ventures (LYLT) announced the signing of a purchase agreement for BMO to acquire LoyaltyOne's AIR MILES Reward Program business. For BMO customers and all AIR MILES collecting Canadians, as well as merchants and partners across the country, BMO's acquisition of AIR MILES would be a made-in-Canada opportunity to enable a reinvigoration for one of Canada's largest loyalty programs. BMO's acquisition of the AIR MILES business is subject to court approval, the receipt of required regulatory approvals and other customary conditions.

06:48 EST Lazard reports preliminary AUM $224.2B as of February 28 - The month's AUM included market depreciation of $2.8B, foreign exchange depreciation of $2.9B and net outflows of $0.8B.

06:45 EST Pfizer announces FDA approval of ZAVZPRET - Pfizer announced the U.S. FDA has approved ZAVZPRET, the first and only calcitonin gene-related peptide receptor antagonist nasal spray for the acute treatment of migraine with or without aura in adults. In its pivotal Phase 3 study, ZAVZPRET was statistically superior to placebo on the co-primary endpoints of pain freedom and freedom from most bothersome symptom at two hours post-dose. The pivotal study also demonstrated pain relief as early as 15 minutes in a prespecified secondary endpoint versus placebo.

06:07 EST ChipMOS reports February revenue $46.8M, down 31.5%

05:54 EST SVB Financial sinks 41% to $62.56 amid downgrades, customer exit concerns

05:13 EST ZTO Express launches independent investigation into short seller report - ZTO Express announced that following its previous statement in response to the allegations made in a report issued by the short-seller firm Grizzly Research on March 2, the audit committee of the company's board of directors, after having reviewed the allegations, at the recommendation of the management of the company and in order to protect the interests of all shareholders, has decided to conduct an independent investigation into the allegations made in the short seller report. The company said, "The Audit Committee has engaged and will be assisted by independent professional advisors, including an international law firm and a forensic accounting firm that is not the Company's auditor. The Company will provide updates on the Independent Investigation in due course consistent with the requirements of applicable rules and regulations of the Securities and Exchange Commission, the New York Stock Exchange, and The Stock Exchange of Hong Kong Limited. The Company reiterates its continued and unwavering commitment to maintaining high standards of corporate governance and internal control, as well as transparent and timely disclosure in compliance with applicable rules and regulations."

05:09 EST LyondellBasell, Grenergy sign five long-term solar power purchase agreements - LyondellBasell and Grenergy signed five long-term solar power purchase agreements, or PPAs. Under the 15-year contracts, the Spanish renewable energy producer will supply solar energy from the La Cereal solar farm project, which is expected to be operational at the end of 2025. The agreements represent about 329,000 megawatt-hours of solar power annually, equivalent to the annual electricity consumption of more than 90,000 European homes.