Stockwinners Market Radar for June 29, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
SPR | Hot Stocks20:45 EDT Spirit AeroSystems ratifies new contract with IAM - Spirit AeroSystems, a subsidiary of Spirit AeroSystems Holdings, welcomes today's ratification of a new four-year contract with members of Local Lodge 839 of the International Association of Machinists and Aerospace Workers, IAM. The company announced it will begin restoring operations at its Wichita plant tomorrow, Friday, June 30, and begin to fully resume production on Wednesday, July 5.
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VERV | Hot Stocks20:03 EDT Cathie Wood's ARK Investment bought 69K shares of Verve Therapeutics today
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CNM | Hot Stocks18:56 EDT Core & Main chief HR officer Schneider sells 49,904 class A shares - In a regulatory filing, Core & Main chief HR officer Laura Schneider disclosed the sale of 49,904 class A common shares of the company on June 27 at a price of $30.0254 per share.
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CIR | Hot Stocks18:28 EDT Circor up 3% at $55.60 after entering merger deal with KKR
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LTHM | Hot Stocks18:27 EDT Livent resumes operations at Bessemer City facility - The company states: "Livent's manufacturing facility in Bessemer City, North Carolina, has resumed operations following the fire which broke out at an onsite warehouse early on Monday morning. All lithium hydroxide, butyllithium and catalyst grade lithium metal production lines are now back in operation, and the majority of Livent personnel have returned to their normal shifts. The company is still assessing the timetable to restore some of its smaller production units, including those for high purity lithium metal and pharmaceutical grade lithium carbonate. As previously reported, the fire was principally contained to a steel and concrete warehouse which was used primarily to store lithium metal ingots, as well as some ancillary maintenance and production supplies, and is located away from the operating facilities at the site. Although the fire had largely burned out by mid-morning on Monday, the warehouse and its contents were destroyed."
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RCEL | Hot Stocks18:23 EDT Avita Medical submits PMA supplement to FDA for RECELL GO - AVITA Medical "announced its submission of a premarket approval, or PMA, supplement to the U.S. Food and Drug Administration for RECELL GO(TM). The supplement follows the original PMA of its RECELL Autologous Cell Harvesting Device and subsequent PMA supplements. With its innovative capabilities, RECELL GO revolutionizes the current, manually operated RECELL device by eliminating the need for manual management of skin samples. RECELL GO will utilize single-use processing cartridges integrated into a durable AC powered processing device. The automated workflow streamlines the critical steps of enzyme incubation, buffer rinse, mechanical disaggregation, and filtering, transforming the production process of Spray-On Skin(TM) Cells."
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CIR | Hot Stocks18:21 EDT Circor enters into amended merger agreement with KKR at $56 per share - CIRCOR "announced that it has amended its definitive merger agreement with affiliates of investment funds managed by KKR to acquire the Company for $56.00 per share in cash, an increase of 9.8% over KKR's bid of $51.00 per share on June 26, 2023, and a 76.8% premium to the Company's unaffected stock price on June 2, 2023. KKR will provide a full equity backstop for the consummation of the merger. Under the terms of the Amended Agreement, in addition to receiving $56.00 per share, CIRCOR stockholders will, subject to certain conditions, receive additional cash consideration from KKR if the transaction has not closed by October 31, 2023. The maximum aggregate amount of the "ticking fee" would be $1 per share, with the actual amount accruing on a prorated daily basis between November 1, 2023 and December 31, 2023, subject to adjustment if the filing of the CIRCOR proxy statement, prepared in connection with the merger, is delayed. CIRCOR's Board of Directors received the Amended Agreement from KKR on June 29, 2023, following receipt of an unsolicited, binding acquisition proposal from Arcline Investment Management LP to acquire CIRCOR for $57.00 in cash. Consistent with its fiduciary responsibilities, the Board, in consultation with its outside legal and financial advisors, carefully reviewed the unsolicited proposal and the further amended proposal from KKR."
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ETCC | Hot Stocks18:03 EDT Environmental Tectonics awarded $17.3M contract for sterilization equipment - Environmental Tectonics announced it has been awarded a $17.3M contract from a multi-national medical device manufacturer. The contract includes four, thirty pallet ethylene oxide sterilization chambers and four, thirty pallet vacuum aeration chambers. "This contract reflects ETC Sterilization Systems Group's dedication to innovation in our mechanical designs, control systems and software expertise to meet the challenging requirements of this market," states Eric Hunnicutt, ETC Director of EO Sterilizer Sales. ETC's Sterilization Systems Group offers Steam and Ethylene Oxide Sterilizer Systems, Vacuum Dryers, Software Systems, and project management services to the Medical Device, Pharmaceutical, Biotechnology, and Life Science industries. ETC's systems are specially designed to meet unique process systems challenges.
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FCPT | Hot Stocks18:03 EDT Four Corners Property Trust announces sale of leaseback of car wash properties - Four Corners Property Trust announces the acquisition of nine car wash properties for $40M from a top five operator via a sale-leaseback. The properties are located in strong retail corridors in Florida, Indiana, Louisiana, Ohio, Oklahoma, and South Carolina. The sites are corporate-operated under a long-term, triple net master lease. The transaction was priced at a cap rate in range with previous FCPT transactions. Our tenant has requested confidentiality around disclosure of the brand name.
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RNLX | Hot Stocks18:02 EDT Renalytix says FDA grants De Novo marketing authorization for KidneyIntelX.dkd - Renalytix announced that the U.S. Food and Drug Administration has granted De Novo marketing authorization for its KidneyIntelX.dkd prognostic test. This affirms KidneyIntelX as a first-in-class, artificial intelligence enabled prognostic testing platform to guide care management for adults with type 2 diabetes and early-stage chronic kidney disease. Renalytix believes FDA authorization will lead to increasing test adoption, informing clinical guidelines, expanding insurance coverage, and pursuing additional international regulatory approvals. "Meeting the rigorous safety, clinical and analytical validation, and scientific data requirements of an FDA review, from Breakthrough Device designation to De Novo marketing authorization, is a landmark event for health care providers and patients with diabetic kidney disease," said James McCullough, CEO of Renalytix. "With this approval a new class, Prognostic Test for Assessment of Chronic Kidney Disease Progression, has been established by the FDA, providing a roadmap for future expansion of KidneyIntelX into new indications and products."
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NEXT | Hot Stocks18:00 EDT NextDecade announces bank commitments from syndicate of lenders - NextDecade "announced that Rio Grande LNG has received binding commitments from a syndicate of lenders in an amount sufficient, together with expected project equity funding, to support a positive final investment decision of the first three liquefaction trains at the Rio Grande LNG export facility in Brownsville, Texas. The lender group includes the world's leading Asian, European, Middle Eastern and North American project finance banks. NextDecade has sold 16.2 million tonnes per annum of LNG from Phase 1, or 92% of nameplate capacity, under long-term sale and purchase agreements, sufficient to support the binding debt commitments from these leading lenders and the near-term FID of the 17.61 MTPA Phase 1. Due in part to the observance of various holidays around the world, including the July 4th holiday, NextDecade is now targeting FID on Phase 1 in early July with FIDs of its remaining trains to follow thereafter."
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ETCC | Hot Stocks17:51 EDT Environmental Tectonics awarded 17.3M contract for sterilization equipment - Environmental Tectonics announced it has been awarded a $17.3M contract from a multi-national medical device manufacturer. The contract includes four, thirty pallet ethylene oxide sterilization chambers and four, thirty pallet vacuum aeration chambers. "This contract reflects ETC Sterilization Systems Group's dedication to innovation in our mechanical designs, control systems and software expertise to meet the challenging requirements of this market," states Eric Hunnicutt, ETC Director of EO Sterilizer Sales. ETC's Sterilization Systems Group offers Steam and Ethylene Oxide Sterilizer Systems, Vacuum Dryers, Software Systems, and project management services to the Medical Device, Pharmaceutical, Biotechnology, and Life Science industries. ETC's systems are specially designed to meet unique process systems challenges.
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IOT | Hot Stocks17:48 EDT Samsara CEO sells $2.3M in common stock - In a regulatory filing, Samsara disclosed that its CEO Sanjit Biswas sold 89.8K shares of common stock on June 27th in a total transaction size of $2.3M.
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CALA | Hot Stocks17:47 EDT Calithera: Special meeting for purpose of voting on dissolution cancelled - Calithera Bioscience announced that it was unable to achieve a quorum of stockholders at its special meeting of stockholders scheduled to be held on June 29 or the purpose of approving the Company's Plan of Complete Liquidation and Dissolution. In January 2023, the Company announced its intention to commence an orderly wind down of the Company's business and operations. After consulting with its proxy solicitation advisors, the Company concluded that further attempts to solicit proxies for the Special Meeting would in all likelihood not allow it to achieve a quorum, and as a result has cancelled.
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NKE | Hot Stocks17:43 EDT Nike sees Q1 revenue flat to up low single digits, consensus $13.45B - Sees Q1 SG&A expense growth low double digits. Guidance taken from Q4 earnings conference call.
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MFC | Hot Stocks17:41 EDT Manulife Financial takes minority stake in Parreira Almond, no terms - Manulife Investment Management has announced a minority partnership with Parreira Almond Holding Company, PAHC, a family-owned almond hulling, shelling, processing, and marketing company, on behalf of its clients. The minority investment will position PAHC and its wholly owned subsidiaries, RPAC and Parreira Almond Processing Company for future growth as well as continue to provide a consistent volume of high-quality California-grown and U.S.-grown almonds through both investments in the existing operations and from further acquisitions.
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PAHC MFC | Hot Stocks17:40 EDT Manulife Financial takes minority stake in Parreira Almond, no terms - Manulife Investment Management has announced a minority partnership with Parreira Almond Holding Company, PAHC, a family-owned almond hulling, shelling, processing, and marketing company, on behalf of its clients. The minority investment will position PAHC and its wholly owned subsidiaries, RPAC and Parreira Almond Processing Company for future growth as well as continue to provide a consistent volume of high-quality California-grown and U.S.-grown almonds through both investments in the existing operations and from further acquisitions.
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FHB | Hot Stocks17:32 EDT First Hawaiian announces senior leadership transitions - First Hawaiian announced the upcoming retirements of three members of its senior leadership team: Vice Chairman and Chief Risk Officer, Ralph Mesick; Vice Chairman and Chief Lending Officer, Lance Mizumoto; and Executive Vice President & Chief Human Resources Officer, Iris Matsumoto. In anticipation of these retirements, First Hawaiian announced the promotions of the individuals that will succeed them. Lea Nakamura, Deputy Chief Risk Officer, will be appointed as Chief Risk Officer, and Darlene Blakeney, Executive Vice President and Division Manager for the Corporate Banking Division of First Hawaiian Bank and President of First Hawaiian Leasing, will be appointed as Chief Lending Officer, effective July 1, and October 1, respectively. Each will join the First Hawaiian Senior Management Committee upon her respective appointment. Additionally, Gina Anonuevo, Chief Compliance Officer of the Bank, will take over as Chief Human Resources Officer effective December 1. As Chief Human Resources Officer, Gina will continue to serve as a member of the First Hawaiian Senior Management Committee.
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EFX | Hot Stocks17:24 EDT Equifax merger approved by Boa Vista Servicos shareholders - The merger of Equifax and Boa Vista Servicos, the second largest credit bureau in Brazil, received shareholder approval in a Boa Vista Servicos Shareholders' Meeting. Equifax entered into a definitive Merger Agreement with Boa Vista Servicos on February 9. Boa Vista Servicos shareholders approved the merger protocol, which contains the terms and conditions for implementing the Merger Agreement; the combination of the businesses and resulting delisting of Boa Vista Servicos and exit from the Novo Mercado special listing segment of B3 S.A. - Brasil, Bolsa, Balcao stock exchange; as well as the waiver of the Equifax do Brasil obligation to list its shares with B3 and certain other matters related to the merger. Between July 17 and July 31, 2023, each Boa Vista Servicos shareholder will have the opportunity to elect the form of consideration they will receive for each of their Boa Vista Servicos shares from the following options: R$8.00 in cash, R$7.20 in cash and 0.0008 of an Equifax BDR representing an equivalent fraction of one share of Equifax common stock or R$5.33 of Equifax Brasil common shares and either R$2.67 in cash or 0.0027 of an Equifax BDR. The acquisition is subject to customary closing conditions and is expected to be finalized in early August, alongside the process to delist Boa Vista Servicos shares from B3. Following the completion of the transaction, Boa Vista Servicos will become a subsidiary of Equifax Brasil. The acquisition is not anticipated to have a material impact on 2023 Equifax financial results.
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PINS | Hot Stocks17:09 EDT Pinterest's former CFO Mongenfeld sells $1.6M in common stock - In a regulatory filing, Pinterest disclosed that its former CFO Todd Morgenfeld sold 60.7K shares of common stock in a total transaction size of $1.6M.
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UNCY | Hot Stocks17:07 EDT Unicycive Therapeutics provides NDA update based on recent FDA interactions - The company states: "Unicycive Therapeutics provided an update based on recent interactions with the U.S. Food and Drug Administration concerning the Company's New Drug Application for lanthanum dioxycarbonate, previously known as Renazorb. LDC is an investigational new drug being developed for the treatment of hyperphosphatemia in chronic kidney disease patients on dialysis. In preparation for its anticipated NDA filing for LDC, the Company requested a pre-NDA meeting with the FDA to align on the contents of the NDA. As previously noted, the Agency had requested a 6-month toxicity study in mice comparing LDC and lanthanum carbonate, the drug substance in Fosrenol, the Reference Listed Drug for the 505(b)(2) regulatory pathway. The study report was submitted to the Agency as part of the pre-NDA meeting package showing that there was no evidence of any gastrointestinal neoplasms for either LC- or LDC-dosed mice. However, upon review of the study report, the Agency pointed out that although the GI adverse findings observed with LDC are qualitatively similar to lanthanum carbonate, there were quantitative differences. Based on the review of this information, the FDA has asked the Company to provide additional information, including risk assessment and clinical data, to evaluate the tolerability of LDC in patients with chronic kidney disease on dialysis. The Company requested a follow-up meeting with the FDA to discuss its additional requests."
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ABBV | Hot Stocks17:04 EDT AbbVie names Robert Michael president, COO - According to a regulatory filing, effective June 29, 2023, Robert A. Michael has been appointed President and Chief Operating Officer of AbbVie. Michael will continue to oversee AbbVie's global commercial and financial operations. He will also be responsible for operations, human resources, business development and corporate strategy.
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MRUS | Hot Stocks17:03 EDT Merus gets breakthrough therapy designation from FDA in NRG1+ pancreatic cancer - Merus N.V. "announced that the FDA has granted Breakthrough Therapy Designation for zenocutuzumab for the treatment of patients with advanced unresectable or metastatic NRG1 fusion pancreatic cancer following progression with prior systemic therapy or who have no satisfactory alternative treatment options. This designation for Zeno follows a Fast Track Designation for the treatment of patients with metastatic solid tumors harboring NRG1 gene fusions that have progressed on standard of care therapy on January 7, 2021 and Orphan Drug Designation for the treatment of patients with pancreatic cancer on July 27, 2020. BTD is supported by data from the ongoing phase 1/2 eNRGy trial and Early Access Program (EAP) which are assessing the safety and anti-tumor activity of Zeno monotherapy in NRG1+ cancer. Data from the eNRGy trial and EAP were featured as oral presentations during the 2021 and 2022 American Society of Clinical Oncology Annual Meetings. As of June 1, 2023, more than 175 patients with NRG1+ cancer have been treated with Zeno monotherapy."
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DCI | Hot Stocks17:02 EDT Donaldson acquires Univercells Technologies - Donaldson acquired Univercells Technologies, a global producer of biomanufacturing solutions for cell and gene therapy research, development and commercial manufacturing. Univercells Technologies' product offering includes the unique scale-X single-use structured fixed-bed bioreactor for the intensified production of viruses used in cell and gene therapy, viral vaccines and other therapeutics. In addition, the company's automated NevoLine Upstream platform incorporates industry-standard filtration to provide integrated up- and mid-stream processing capabilities in a single unit. Headquartered in Nivelles, Belgium, Univercells Technologies has over 100 employees globally. The Company generated approximately EUR10M of revenue in calendar 2022 and was acquired for cash consideration of EUR136M on a cash-free, debt-free basis and subject to closing adjustments. Univercells Technologies is being acquired from Gamma Biosciences and Univercells SA and will be a part of the Donaldson Life Sciences segment. Baker McKenzie acted as legal advisors to Donaldson.
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CYBN | Hot Stocks17:02 EDT Cybin names Aaron Bartlone COO - Cybin announced the appointment of Aaron Bartlone as Chief Operating Officer of Cybin Inc., effective July 1, 2023. Mr. Bartlone has served as Chief Operating Officer of Cybin's U.S. subsidiary, Cybin US Holdings, Inc., since March 2021. "Aaron's leadership and expertise have contributed immensely to Cybin's clinical accomplishments across its drug development programs, including progressing the ongoing Phase 1/2a study of CYB003, and the Phase 1 CYB004-E study. Aaron's significant experience in regulatory, commercial, and clinical operations will continue to be an asset as Cybin advances its programs," said Doug Drysdale, Chief Executive Officer of Cybin. "We are pleased to appoint Aaron as Chief Operating Officer of Cybin Inc. and view this as a key step in strengthening the Company's execution as we continue to advance our clinical trials towards data readouts later this year."
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ROOT | Hot Stocks17:01 EDT Root down 16% on announcement company has not received actionable proposal
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ACCD | Hot Stocks17:00 EDT Accolade jumps 16% to $14.67 after Q1 results, guidance raise
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ACET | Hot Stocks16:56 EDT Adicet Bio director buys $1.83M in common stock - In a regulatory filing, Adicet Bio disclosed that its director Carl Gordon bought 875K shares of common stock on June 27th in a total transaction size of $1.83M.
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CBAN | Hot Stocks16:48 EDT Colony Bankcorp names Derek Shelnutt CFO - Colony Bank has named Derek Shelnutt Executive VP and CFO, effective July 1. Shelnutt previously served as Senior VP, Chief Accounting Officer, and Acting CFO of the Bank since January. Shelnutt will continue to serve as Senior Vice President and Chief Accounting Officer of Colony Bankcorp and Heath Fountain, CEO, will continue to serve as Acting CFO of Colony Bankcorp. Shelnutt joined Colony in September 2020 and has served in roles of increasing responsibility including Treasurer, Controller, and Treasury Manager. He has also held the positions of Auditor, Treasury Accountant, and Sarbanes-Oxley Compliance Manager.
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ODC | Hot Stocks16:47 EDT Oil-Dri Corporation of America to implement price increases on clay absorbents - Oil-Dri Corporation of America announced that it will implement price increases on its industrial and automotive clay absorbents, effective September 1. These price increases will range from 10% to 15%, depending on the product.
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AEP | Hot Stocks16:47 EDT American Electric gets approval to buy 999MW of renewable generation resources - Southwestern Electric Power, an American Electric Power, "has received approval by the Louisiana Public Service Commission to move forward with its fuel-free power plan to acquire up to 999 megawatts of renewable generation resources. The LPSC today approved the terms of a settlement agreement reached on March 10, 2023, by all parties in the proceeding, subject to certain procedural conditions moving forward. This effort will help meet projected power needs while protecting customers from volatility in energy costs."
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UDR | Hot Stocks16:45 EDT UDR announces formation of $510M joint venture - UDR and GRESB 5 Star rated company for its sustainability leadership, announced that it has closed a $510M joint venture with LaSalle Investment Management. The Company and the Partner intend to grow the joint venture over time through the acquisition of high-quality, well-located communities with operational upside that can be recognized through the implementation of UDR's industry-leading operating platform. Under the terms of the agreement, UDR will: initially contribute four communities totaling 1,328 apartment homes into the joint venture; retain a 51%ownership in the communities included in the joint venture; and, receive approximately $250M in cash proceeds. The joint venture will initially have no debt. The value of the seed portfolio is based on a low-5% effective forward yield, and the Company expects the transaction to be accretive to FFOA and cash flow per share in the first year of the venture. The Company serves as the manager of the joint venture and will earn asset management, property management, financing, and construction management fees. For new acquisitions made through the venture, the Company will earn acquisition fees and the potential to earn a promoted return should certain return hurdles be achieved. "We are pleased to establish a new joint venture with such a high-quality partner," said Tom Toomey, UDR's Chairman and CEO. "The venture validates the success of UDR's operating platform, innovation, and unique value creation mechanisms, which have led to the highest controllable operating margin among our peer group and earnings per share growth that is consistently above the peer average. Additionally, the venture expands UDR's strategy of diversifying among capital sources that provide the Company the ability to execute accretive investment opportunities across economic and market cycles. We look forward to growing this venture with our Partner over time to the benefit of our stakeholders through increased operating scale, densification, and earnings accretion."
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BBY | Hot Stocks16:44 EDT Best Buy founder Richard Schulze sells $20.7M in common stock - In a regulatory filing, Best Buy disclosed that its founder and Chairman Emeritus Richard Schulze sold 250K shares of common stock in a total transaction size of $20.7M.
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UDR | Hot Stocks16:43 EDT UDR forms $510M joint venture with LaSalle Investment - UDR has closed a $510M joint venture with LaSalle Investment. The company and the partner intend to grow the joint venture over time through the acquisition of high-quality, well-located communities with operational upside that can be recognized through the implementation of UDR's operating platform. UDR will initially contribute four communities totaling 1,328 apartment homes into the joint venture; retain a 51% ownership in the communities included in the joint venture; and receive approximately $250M in cash proceeds. The joint venture will initially have no debt. The value of the seed portfolio is based on a low-5% effective forward yield, and the company expects the transaction to be accretive to FFOA and cash flow per share in the first year of the venture. The company serves as the manager of the joint venture and will earn asset management, property management, financing, and construction management fees. For new acquisitions made through the venture, the company will earn acquisition fees and the potential to earn a promoted return should certain return hurdles be achieved.
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EML | Hot Stocks16:42 EDT Eastern Company acquires certain assets of Sureflex - The Eastern Company announced that the Company has acquired certain assets of Sureflex, Inc. The Company did not disclose the terms of the transaction. Sureflex, which manufactures tractor-trailer electrical connection cable assemblies, will be part of Eastern's Velvac subsidiary.
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AUPH | Hot Stocks16:35 EDT Aurinia Pharmaceuticals trading resumes
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PTCT | Hot Stocks16:32 EDT PTC Therapeutics' vatiquinone did not meet primary endpoint in MDAS study - PTC Therapeutics announced that the MIT-E trial of vatiquinone for the treatment of mitochondrial disease associated seizures - MDAS - failed to achieve its primary endpoint of reduction in observable motor seizures. The study showed evidence of treatment effect in reducing seizure frequency in the overall study population and in the largest subgroup of children with Leigh syndrome, in whom benefit was also observed in the key secondary endpoints of occurrence of status epilepticus and disease-related hospitalizations. The primary endpoint was the reduction in observable motor seizures during the 24 weeks placebo-controlled phase. While the MIT-E study results do not support the advancement of vatiquinone for the treatment of MDAS, PTC continues to plan to discuss the results of the MOVE-FA trial of vatiquinone for the treatment of Friedreich ataxia with regulatory authorities.
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ENDP MRK | Hot Stocks16:32 EDT Endo launches first generic version of Merck's Noxafil in the U.S. - Endo International (ENDP) announced that its Par Sterile Products business has begun shipping posaconazole injection (18 mg/mL), the first generic version of Merck's (MRK) Noxafil in the U.S., following final approval from the U.S. FDA of its Abbreviated New Drug Application. According to IQVIA, Noxafil vial sales were approximately $25M for the 12 months ended May 31, 2023.
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FTI | Hot Stocks16:25 EDT TechnipFMC awarded significant iEPCI for OMV's Berling gas project - TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction, and Installation contract by OMV AS for its Berling gas development project. It will be OMV's first iEPCI project in Norway as operator. TechnipFMC will design and install the subsea production systems, controls, pipelines, and umbilicals for the development on the Norwegian Continental Shelf. Jonathan Landes, President, Subsea at TechnipFMC, commented: "We're proud to have OMV join the growing number of clients who are experiencing the benefits of our integrated project execution model. Through iFEED, we demonstrated that iEPCI provides a solution which will accelerate delivery of this development. We are excited to support OMV through its first project as operator in the North Sea." For TechnipFMC, a "significant" contract is between $75M and $250M. This award will be included in inbound orders in the second quarter of 2023.
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EMR | Hot Stocks16:23 EDT Emerson Electric COO Flavin sells 48,718 common shares - In a regulatory filing, Emerson Electric COO Lisa Flavin disclosed the sale of 48,718 common shares of the company on June 27 at a price of $89.6547 per share.
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BRCC | Hot Stocks16:19 EDT Black Rifle Coffee names Chris Mondzelewski president, CFO Iverson to step down - Black Rifle Coffee announced changes to its management team to strengthen its ability to drive profitable growth and serve customers. The Company is also reaffirming 2023 full-year financial guidance previously provided on May 11, 2023. As of today, Chief Marketing Officer, Chris Mondzelewski, has assumed the newly established role of president of Black Rifle Coffee. In this role, Mr. Mondzelewski will take on the responsibility of overseeing BRCC's day-to-day operations, alongside his current duties as chief marketing officer. Mr. Mondzelewski joined BRCC in May following a nearly 12-year tenure at Mars, where he most recently led growth initiatives for the Global Petcare business as chief growth officer. Additionally, Mr. Mondzelewski will assume many of Chief Operating Officer Toby Johnson's responsibilities, as she is departing the Company to pursue other opportunities after building the foundation for BRCC's entry into the FDM channel with bagged coffee and scaling the RTD coffee business in convenience stores. The Company also announced today that, effective August 13, 2023, Greg Iverson will step down from his role as chief financial officer and return to the education sector. Mark Weinsten, an experienced financial executive, will serve as the Company's interim CFO. Mr. Weinsten has been working closely with BRCC's management team on various operational and productivity initiatives since February 2023 and his financial expertise, familiarity with BRCC's operations, and experience serving in interim roles, including as CFO, position him to lead BRCC's finance team during this interim period. The Company is conducting a search for a permanent CFO.
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BBLN | Hot Stocks16:19 EDT Babylon Holdings trading halted, news dissemination
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NKE | Hot Stocks16:18 EDT Nike CFO says FY23 set foundation for 'sustainable' growth in FY24 - Matthew Friend, Executive Vice President and Chief Financial Officer, said, "FY23 demonstrated the power of NIKE's portfolio to fuel strong growth, year after year. We finished the year with mid-teens currency-neutral revenue growth and a healthy marketplace - setting the foundation for sustainable, profitable growth in FY24 and beyond."
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ABST | Hot Stocks16:17 EDT Absolute Software approves acquisition by Crosspoint Capital - Absolute Software announces that its Securityholders have approved the acquisition of all of the outstanding shares of the Company by 1414364 B.C. LTD., an affiliate of Crosspoint Capital Partners, L.P. by way of a statutory plan of arrangement at the special meeting of Securityholders held today.
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NKE | Hot Stocks16:17 EDT Nike reports Q4-end inventories $8.5B, flat y/y - Cash and equivalents and short-term investments were $10.7 billion, $2.3 billion lower than prior year, as cash generated by operations was used for share repurchases, cash dividends, capital expenditures and the retirement of $500 million of debt upon maturity.
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NKE | Hot Stocks16:16 EDT Nike reports Q4 Direct sales $5.5B, up 15% - Revenues for the NIKE Brand were $12.2 billion, up 5 percent on a reported basis and up 8 percent on a currency-neutral basis, with growth across all brands, channels and geographies. NIKE Direct revenues were $5.5 billion, up 15 percent compared to prior year and up 18 percent on a currency-neutral basis, led by NIKE-owned stores growth of 24 percent and NIKE Brand Digital growth of 14 percent. Revenues for Converse were $586 million, down 1 percent on a reported basis and up 1 percent on a currency-neutral basis, led by double-digit growth in Asia, offset by declines in Europe.
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FLWS | Hot Stocks16:16 EDT 1-800-Flowers.com CEO to step down for health reasons - 1-800-FLOWERS.COM "announced CEO Christopher McCann will be stepping down for personal health reasons, effective July 3, 2023. To ensure continuity going forward, Jim McCann will resume his role as CEO and remain Chairman. Jim McCann served as CEO for the organization from inception through 2016. Christopher McCann will remain on the Company's Board of Directors and continue to serve on the board and as an officer of various subsidiaries of the Company as he now serves."
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TOL | Hot Stocks16:14 EDT Toll Brothers Chairman Yearley sells $3.9M in company shares - Chairman of Toll Brothers Douglas Yearly disclosed the sale of 50,000 shares of stock at $78.63 per share after exercise at $32.49 per share, on June 28, for a transaction amount of $3,931,450.
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AZTA | Hot Stocks16:13 EDT Azenta to open location in the greater Boston area - Azenta announced it is opening a new location in the greater Boston area to expand its global sample storage business into the Boston market. The 40,000 square foot facility, located in Billerica, MA, will be Azenta's second largest biorepository in terms of sample capacity after its flagship Indianapolis location.
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DOMA | Hot Stocks16:10 EDT Doma 1-for-25 reverse stock split to become effective June 29 - Doma Holdings announced that it had filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the previously announced 1-for-25 reverse stock split of the Company's common stock, par value $0.0001 per share and a corresponding reduction in authorized shares of capital stock of the Company. The Reverse Stock Split and corresponding capital stock adjustment will become effective at 11:59 p.m. Eastern Daylight Time on Thursday, June 29, 2023. The Common Stock will begin trading on a split-adjusted basis when the markets open on Friday, June 30, 2023, under the existing trading symbol "DOMA" and new CUSIP number: 25703A 203. As a result of the Reverse Stock Split, every 25 shares of the Company's issued and outstanding Common Stock will automatically be converted into one share of issued and outstanding Common Stock and the number of authorized shares will be adjusted on the same split adjusted basis. No fractional shares will be issued as a result of the Reverse Stock Split. Instead, stockholders who otherwise would be entitled to receive fractional shares of Common Stock will be entitled to receive cash. The Reverse Stock Split affects all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's outstanding Common Stock, except for adjustments that may result from the treatment of fractional shares. All outstanding options, warrants, restricted stock units, and similar securities entitling their holders to receive or purchase shares of Common Stock will be adjusted as a result of the Reverse Stock Split, as required by the terms of each security.
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INDI | Hot Stocks16:10 EDT Indie Semiconductor unveils automotive wireless power charging system - The company states: "indie Semiconductor has launched an integrated automotive wireless power charging system-on-chip (SoC) that offers the industry's highest level of integration. The iND87200 simplifies and accelerates the development of cost-effective WPC 'Qi'-based in-cabin portable device charging designs. In-cabin charging has become a necessity for drivers and passengers who use their smartphone to provide navigation, music, voice connections and other services on-the-move. The global semiconductor-enabled in-car automotive wireless charger market is estimated1 at $1.3B for2022 and is forecasted to grow to $9.5B by 2032, representing a 22% CAGR over this period. The emerging Qi 2.0 standard featuring the Magnetic Power Profile is particularly relevant to automotive designs, offering faster, more reliable charging by automatically aligning smartphones with an inductive charging coil, maintaining the device in position irrespective of vehicle motion. The iND87200 dual-core design combines an Arm Cortex M4F processor with 2MB of embedded Flash and 256kB of SRAM with a dedicated Arm Cortex M0 processor for the WPC stack. This approach frees SoC compute resources to execute user-specific software without timing and interrupt constraints related to the WPC stack. Further, indie's wireless charging solution integrates all of the necessary power management, DC-DC converter, signal conditioning, WPC inverter drivers, and power FETs as well as LED and fan drivers. A wide range of serial interfaces such as CAN 2.0B, LIN, I2C, and UARTs provide multiple connectivity options to the vehicle and other peripherals."
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ROOT | Hot Stocks16:09 EDT Root has not received any actionable proposal that enhances value - Root, the parent company of Root Insurance Company, issued the following statement: "Root's Board of Directors has always considered and evaluated, and will continue to consider and evaluate, any bona fide proposal or opportunity to enhance shareholder value in accordance with its fiduciary duties. At this time Root is not in receipt of any proposal that is either actionable or in the best interests of Root's shareholders. Root does not undertake any responsibility to update this statement in the future."
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NATI EMR | Hot Stocks16:08 EDT National Instruments stockholders approve transaction with Emerson - National Instruments (NATI) announced that at NI's Special Meeting of Stockholders held earlier Thursday, the company's stockholders voted to adopt the proposed Agreement and Plan of Merger, whereby NI will be acquired by Emerson (EMR). As previously announced, under the terms of the merger agreement, NI stockholders will receive $60 per share in cash for every share of NI common stock they own immediately prior to the effective time of the merger. "Today's vote by our stockholders validates our belief that this transaction represents the best outcome for all NI stakeholders," said Eric Starkloff, NI's Chief Executive Officer. "We thank our stockholders for their support and look forward to accelerating our position as a leading provider of software-connected automated test and measurement systems in this next chapter as part of Emerson." The proposed transaction is expected to close in the first half of Emerson's fiscal year 2024, subject to the completion of customary closing conditions. The final voting results of the Special Meeting will be set forth in a Form 8-K filed with the U.S. Securities and Exchange Commission following certification by NI's inspector of election.
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ACCD | Hot Stocks16:07 EDT Accolade reports Q1 EPS (52c), consensus (62c) - Reports Q1 revenue $93.23M, consensus $90.3M. "Our consistently strong financial results reinforce our belief that an advocacy-led care delivery strategy is the key to transforming the U.S. healthcare system. We are seeing the proof points in our growing customer base and sales momentum, and also through our customers' outcomes, engagement and measurable ROI. We are especially excited by the growth we are witnessing in virtual primary care, which is the key to people living their healthiest lives. For too long, healthcare has been a series of siloed episodes. An advocacy-led care delivery strategy facilitates a coordinated patient journey and tighter collaboration across the healthcare ecosystem, while delivering better health outcomes and tremendous customer satisfaction," said Rajeev Singh, Accolade CEO.
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FARO | Hot Stocks16:06 EDT Faro Technologies names Peter Lau as President and CEO - Faro Technologies announced the appointment of Peter Lau as President and CEO and as a member of the company's Board of Directors, effective July 24th, 2023. As of Lau's start date, Wasserman will no longer be the company's Interim CEO, but will continue as the company's Executive Chairman. Peter Lau recently served as CEO and a board member of Catalyst Nutraceuticals.
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AUPH | Hot Stocks16:06 EDT Aurinia Pharmaceuticals to explore strategic alternatives - Aurinia Pharmaceuticals "announced that its Board of Directors has initiated an exploration of strategic alternatives. As part of this process, the Board will consider a wide range of options for the company including, but not limited to, a potential sale, merger, or other strategic transaction. There can be no assurance that this process will result in the company pursuing a particular transaction or other strategic outcome. Aurinia has not set a timetable for completion of this process, and it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary. To assist in the review process, Aurinia has retained JP Morgan as its financial advisor, Skadden, Arps, Slate, Meagher & Flom, LLP as its US legal counsel, and Borden Ladner Gervais LLP as its Canadian legal counsel."
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ENVX | Hot Stocks16:03 EDT Enovix appoints Farhan Ahmad CFO, replacing Steffen Pietzke - Enovix announced the appointment of Farhan Ahmad as Chief Financial Officer, replacing Steffen Pietzke, who is stepping down effective July 9. Pietzke will stay on as a consultant for up to six months to ensure a smooth transition. "Steffen has been instrumental through major financial events including taking Enovix public and we are thankful for his service," said Dr. Raj Talluri, President and CEO at Enovix. "I am pleased Farhan will join the company. He brings financial leadership expertise, most recently at Micron, where he helped shape the company's strategic roadmap."
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AUPH | Hot Stocks16:00 EDT Aurinia Pharmaceuticals trading halted, news pending
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LSDI KTTA | Hot Stocks15:04 EDT Lucy Scientific Discovery reiterates proposal to acquire Pasithea Therapeutics - Lucy Scientific Discovery (LSDI), a licensed producer of compounds for medicinal products, announced that it had reaffirmed its proposal to Pasithea Therapeutics (KTTA), a biotechnology firm focused on innovative medical solutions, to acquire each share of its common stock. Under the terms of the offer made on June 5, Lucy proposed to pay 60c in cash, and 25c cents in Lucy stock for every share of Pasithea common stock. "Given that Pasithea's stock closed at $0.35 per share on June 1, 2023, the Proposal of $0.85 per share equates to 142% premium to Pasithea's share price. In fact, the cash component alone represents a 71% premium. Lucy noted in its letter today to Pasithea that following the announcement of its offer, Pasithea's stock experienced a significant increase in both price and volume. In fact, on the first trading day following the announcement, the stock hit a nearly 4-month high of just over $0.64, up 86% since the beginning of the month, and volume increased to 1,320,800 shares that day, a 9,334% increase compared to the prior 30-day average of 14,000 shares, suggesting that Pasithea's shareholders are very interested in the Lucy proposal. Having received no response to its proposal, Lucy indicated that if it received a genuine commitment to engage in good faith negotiations by July 10, 2023 it would be willing to explore improving its already generous offer. Lucy further indicated that, in the absence of a constructive response, it was prepared to present its offer directly to Pasithea's shareholders," Lucy stated.
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BMRN | Hot Stocks14:36 EDT BioMarin says FDA approves gene therapy Roctavian - BioMarin Pharmaceutical announced that the United States Food and Drug Administration approved ROCTAVIAN gene therapy for the treatment of adults with severe hemophilia A without antibodies to adeno-associated virus serotype 5 detected by an FDA-approved test. The one-time, single-dose infusion is the first approved gene therapy for severe hemophilia A in the U.S. ROCTAVIAN was first approved by the European Medicines Agency in August 2022. "Adults with severe hemophilia A face a lifelong burden, with frequent infusions and a high risk of health complications, including uncontrolled bleeding and irreversible joint damage," said Dr. Steven Pipe, professor of pediatrics and pathology at the University of Michigan and an investigator in the Phase 3 study. "The approval of ROCTAVIAN, as the first gene therapy for severe hemophilia A, has the potential to transform the way we treat adults based on years of bleed control following a single, one-time infusion."
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MNST | Hot Stocks14:12 EDT Monster Beverage agrees to buy Bang Energy for $362M, pending FTC review - A filing with the U.S. Bankruptcy Court for the Southern District of Florida indicates that subject to the expiration or termination of the applicable waiting period under the HSR Act by June 30, Monster Beverage will pay $362M for substantially all of the assets of Vital Pharmaceuticals, the owner of rival energy drink Bang Energy, plus certain contingent consideration earmarked for the estates that could total an additional $10M and Monster will assume certain of the debtors' liabilities. The court filing adds: "The Debtors and Monster were prepared to enter into the Monster APA the week of June 19, and seek approval of both the sale and this Settlement Agreement at the hearing scheduled for June 30. However, as noted at the June 22 hearing, just as the parties were preparing to sign the Monster APA, the Federal Trade Commission indicated that it would issue a 'Second Request' in connection with its review of the Monster transaction under the Hart-Scott-Rodino Act, preventing the parties from closing a sale to Monster at least until they could substantially comply with the 'Second Request' - a likely months long process... On a parallel path, the Debtors have continued discussions with the FTC, but as of the filing of this Motion, there has been no change in the FTC's position and the parties still remain subject to the 'Second Request.' As a result, the Debtors now find themselves in a challenging and uncertain position. A sale to Monster will clearly maximize the value of the Debtors' assets, benefitting all creditors." Reference Link
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VWAGY TSLA | Hot Stocks13:52 EDT VW's Electrify America to add Tesla's NACS connector by 2025 - Volkswagen's (VWAGY) Electrify America announced it will add Tesla's (TSLA) North American Charging Standard, or NACS, connector to Electrify America and Electrify Canada's fast charging networks as part of the company's commitment to broaden charging solutions for electric vehicle drivers today and in the future. Electrify America will continue to provide the Combined Charging System connector throughout its network as it transitions to also support automakers adding NACS charging ports. The company will work to offer a NACS connector option at existing and future charging stations by 2025 to make charging as convenient as possible for EV owners. "Since our founding, we have focused on building an inclusive and open hyper-fast charging network to facilitate the adoption of electric vehicles," said Robert Barrosa, president and CEO of Electrify America. "We look forward to continuing to support industry-wide standards that increase vehicle interoperability and streamline public charging."
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MSTR... | Hot Stocks13:51 EDT Fidelity re-files with SEC for bitcoin exchange-traded fund - Fidelity Investments re-filed an application with the Securities and Exchange Commission for a bitcoin exchange-traded fund called Wise Origin Bitcoin Trust. Fidelity had previously been denied by the SEC. Publicly traded companies in the space include Bit Digital (BTBT), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Marathon Digital (MARA), MicroStrategy (MSTR), Riot Platforms (riot), Stronghold Digital Mining (SDIG) and TeraWulf (WULF). Reference Link
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SSYS... | Hot Stocks13:50 EDT Donerail Group urges Stratasys board to terminate Desktop Metal deal - The Donerail Group, a large shareholder of Stratasys (SSYS), with a beneficial ownership interest of approximately 2.3% of the Company's outstanding shares, released a letter to Stratasys' Board of Directors, which read in part, "Most specifically, we have concerns regarding the Board's clear, unconscionable, and continued refusal to engage with bona fide suitors regarding a sale of the Company over the past two years. Such fiduciary negligence needs to be rectified immediately. As the Company disclosed in a June 20th regulatory filing, since January of 2021, Stratasys has been on the receiving end of at least 12 unsolicited acquisition proposals from at least 3 separate bona fide acquirers. We also believe that the Board would receive additional acquisition interest if it would indicate a willingness to seriously entertain it. Implied acquisition premiums of the disclosed 12 unsolicited acquisition proposals have been attractive, with one proposal exceeding over 60% from the trading price at the time of the offer. In 11 of those 12 unsolicited acquisition proposals, Stratasys rejected the unsolicited proposal without engagement. Such blind and inconceivable rejections have cost Stratasys shareholders dearly. In the one unsolicited acquisition offer that was made of which the Board did, in fact, engage upon - the March 2023 Desktop Metal Incorporated (DM) proposal - the premium offered was the lowest of all other unsolicited offers and subsequently ended not in a sale of SSYS, but rather, what has turned into a highly risky bet-the-company merger for Stratasys...Tuesday morning, we watched with great interest as two separate, attractive, unsolicited offers were presented to Stratasys shareholders - one of which objectively serves as a highly attractive alternative for SSYS shareholders to the Desktop Metal proposed transaction. In fact, we believed that the prior 3D Systems Corporation's (DDD) offer - and their likely ability to increase their bid - was sufficiently compelling to warrant engagement with them vis-a-vis the Desktop Metal proposed transaction's value offered and precisely the valuation work that we had endeavored to highlight to the Board in a meeting - a request that was, again, rejected. As it stands today, 3D Systems' revised, increased proposal offers SSYS shareholders a combination with a highly complementary strategic party in a cash and stock deal valuing Stratasys at an over 27% premium to Monday's closing trading price. We do not believe that the Board can reject the obvious any longer: a 3D Systems transaction is significantly more compelling than the current alternatives and warrants immediate engagement...In this instance, we encourage the Board to follow its commitment to "work for shareholders" and terminate the Desktop Metal deal in favor of a more attractive deal."
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MRNA | Hot Stocks13:42 EDT Moderna initiates rolling NDS to Health Canada for updated COVID-19 vaccine - Moderna has initiated the filing of a rolling New Drug Submission to Health Canada for its updated monovalent COVID-19 vaccine, SPIKEVAX XBB.1.5 targeting the omicron subvariant XBB.1.5 of SARS-CoV-2. This follows Moderna's submission to the U.S. Food and Drug Administration for authorization. This is in alignment with regulators and global public health agencies recommending a monovalent XBB.1.5 composition. Additionally, Moderna has generated preliminary clinical data of its monovalent XBB.1.5 vaccine candidate showing an immune response against XBB descendent sublineages such as XBB.1.5, XBB.1.16, and XBB.2.3.2. The company is prepared to deliver updated COVID-19 vaccines in time for the fall vaccination season.
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INTU | Hot Stocks13:36 EDT Intuit working with OpenAI to accelerate GenAI-driven application development - Intuit announced that it is working with OpenAI to accelerate generative AI-driven application development on its proprietary Intuit generative AI operating system "in support of the company's mission to power prosperity around the world for more than 100M consumer and small business customers," the company said. "Intuit is creating breakthrough product experiences on Intuit GenOS and we are excited to be working with OpenAI using their industry-leading large language models to accelerate our innovation," said Marianna Tessel, Chief Technology Officer at Intuit. "We're harnessing the power of generative AI to power prosperity for more than 100 million customers around the world by transforming the way people manage their finances with full confidence."
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CYTH | Hot Stocks13:35 EDT Cyclo reports publication of 'positive' Phase 2 Trappsol Cyclo study data - Cyclo Therapeutics announced the publication of "positive data" from its Phase 1/2 clinical trial, which demonstrated "promising" safety and efficacy results for Trappsol Cyclo in the treatment of Niemann-Pick Disease Type C1, a rare, genetic disease causing cholesterol accumulation in cells, leading to dysfunction of the liver, lung, spleen and brain and premature death. The manuscript titled, "Long-term administration of intravenous Trappsol Cyclo results in clinical benefits and stabilization or slowing of disease progression in patients with Niemann-Pick Disease Type C1: Results of an international 48-week Phase I/II trial," were published in the official journal of Molecular Genetics and Metabolism Reports. Cyclo Therapeutics continues to advance enrollment in its ongoing pivotal Phase 3 study, TransportNPC. The Phase 3 study intends to enroll approximately 93 pediatric and adult patients with NPC1 and is now active in 12 countries. Enrollment is expected to be completed by the end of this year. N. Scott Fine, CEO of Cyclo Therapeutics, commented, "We first provided this investigational therapy to address symptoms of NPC back in 2009. This was a compassionate use program begun in the US and several other countries. Our formal clinical study began in 2015 and our commitment to this community has only intensified. We look forward to completing enrollment and advancing this important program rapidly on behalf of this deserving community."
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ACN | Hot Stocks13:30 EDT Accenture names Rajendra Prasad Chief Information and Asset Engineering Officer - Accenture announced that effective July 1, Rajendra Prasad will become Accenture's Chief Information and Asset Engineering Officer, a new role that oversees all internal technology development and support for Accenture systems and Accenture assets for clients. Prett succeeds Gloria Samuels in the role of global lead for Accenture's Workday Business Group.
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GOOG GOOGL | Hot Stocks13:26 EDT Google to block news links in Canada, other products, due to legislation - In an update on its Canada blog, Kent Walker, President of Global Affairs, Google & Alphabet, blogged in part earlier: "The Government of Canada has enacted a new law called Bill C-18, the Online News Act, requiring two companies to pay for simply showing links to news, something that everyone else does for free. The unprecedented decision to put a price on links, a so-called "link tax, "creates uncertainty for our products and exposes us to uncapped financial liability simply for facilitating Canadians' access to news from Canadian publishers. We have been saying for over a year that this is the wrong approach to supporting journalism in Canada and may result in significant changes to our products. We have now informed the Government that when the law takes effect, we unfortunately will have to remove links to Canadian news from our Search, News and Discover products in Canada, and that C-18 will also make it untenable for us to continue offering our Google News Showcase product in Canada. We're disappointed it has come to this. We don't take this decision or its impacts lightly and believe it's important to be transparent with Canadian publishers and our users as early as possible." Reference Link
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QRTEA AMZN | Hot Stocks13:05 EDT Qurate's QVC, HSN launch livestream video shopping experience on Amazon Freevee - Qurate Retail Group (QRTEA) announced the launch of QVC and HSN linear channels on Amazon Freevee (AMZN). QVC and HSN are the first and only livestream shopping channels on the service, the company said in a statement. In addition to QVC and HSN, Qurate Retail Group will be launching The Big Dish, its first FAST Channel. QVC and HSN will offer Freevee customers approximately 40 hours a day of live vCommerce programming across both channels, featuring "premier brands and fresh new products presented by celebrities, influencers and other interesting personalities."
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SPCE | Hot Stocks12:56 EDT Virgin Galactic confirms completion of inaugural commercial spaceflight - Virgin Galactic announced the completion of its inaugural commercial spaceflight, "Galactic 01," which carried 13 research payloads and three crew members from the Italian Air Force and National Research Council of Italy to conduct scientific experiments in a microgravity environment. The company said it will now proceed with post-flight inspections and analysis in preparation for its next commercial mission, "Galactic 02,'"which will involve private astronauts. The mission is planned for August, with monthly flights to space beginning thereafter, Virgin Galactic said. Shares of Virgin Galactic are down 14% to $4.10 in afternoon trading.
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ATXG | Hot Stocks12:32 EDT Addentax Group announces 1-for-10 reverse share split - Addentax Group announced that the Company's board of directors exercised its discretion to effect a 1-for-10 reverse split of its common stock shares on June 8, 2023 and is expected to become effective on June 30, 2023. Upon the effectiveness of the reverse share split, Addentax shareholders will receive one new common stock share of Addentax for every ten shares they hold. Addentax's common stock shares are expected to begin trading on a split-adjusted basis when the market opens on June 30, 2023. The reverse share split is expected to lead Addentax's common stock shares to trade at approximately ten times the price per share at which it trades prior to the effectiveness of the reverse share split. Addentax, however, cannot assure that the price of its common stock shares after the reverse split will reflect the 1-for-10 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price. As of June 29, 2023, there were 37,395,420 of Addentax's common stock outstanding. Effecting the Reverse Stock Split will reduce that amount to 3,739,542.
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MSFT... | Hot Stocks12:28 EDT FTC: Generative AI raises competition concerns - The FTC said in a blog post that its Bureau of Competition, working closely with the Office of Technology, is focused on ensuring open and fair competition, including at key inflection points as technologies develop. Generative AI represents one of these paradigm shifts. The FTC said "Accordingly, it is especially important that firms not engage in unfair methods of competition or other antitrust violations to squash competition and undermine the potential far-reaching benefits of this transformative technology. Unfair methods of competition can distort the rate and direction of innovation. By contrast, open and competitive markets can pave the way for emerging technologies, such as generative AI, to yield their maximum potential benefit." The agency added "Some markets for specialized chips are-or could be, without appropriate competition policies and antitrust enforcement-highly concentrated. Last year a challenge by the FTC led to Nvidia (NVDA) abandoning its proposed $40B acquisition of Arm. The FTC's complaint alleged that the merger would have stifled competition in multiple processor markets, including chips for cloud service providers. Today, increasing demand for server chips may outpace supply in some instances. There are reports, for example, that the spike in demand for server chips that can train AI has caused a shortage, prompting major cloud-server providers such as AWS (AMZN), Microsoft (MSFT), Google (GOOGL), and Oracle (ORCL) to 'limit their availability for customers.' And firms in highly concentrated markets are more prone to engage in unfair methods of competitions or other antitrust law violations." It concluded that "As competition issues surrounding generative AI continue to develop, the Bureau of Competition, working closely with the Office of Technology, will use our full range of tools to identify and address unfair methods of competition." Reference Link
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SPCE | Hot Stocks12:00 EDT Virgin Galactic falls -7.2% - Virgin Galactic is down -7.2%, or -34c to $4.40.
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GOGN | Hot Stocks12:00 EDT GoGreen Investments falls -8.4% - GoGreen Investments is down -8.4%, or -97c to $10.53.
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ATIP | Hot Stocks12:00 EDT ATI Physical Therapy falls -11.2% - ATI Physical Therapy is down -11.2%, or -$1.16 to $9.20.
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CSV | Hot Stocks12:00 EDT Carriage Services rises 21.0% - Carriage Services is up 21.0%, or $5.89 to $33.93.
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GBX | Hot Stocks12:00 EDT Greenbrier rises 26.0% - Greenbrier is up 26.0%, or $8.43 to $40.91.
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FC | Hot Stocks12:00 EDT Franklin Covey rises 26.9% - Franklin Covey is up 26.9%, or $9.62 to $45.35.
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SPCE | Hot Stocks11:51 EDT Virgin Galactic says Galactic01 spaceship has 'landed smoothly' - Virgin Galactic tweeted: "Welcome back to Earth, #Galactic01! Our pilots, crew and spaceship have landed smoothly at @Spaceport_NM." Reference Link
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SPCE | Hot Stocks11:40 EDT Virgin Galactic says Galactic01 crew reached space - Virgin Galactic tweeted: "Benvenuti nello spazio, #Galactic01! Our crew from the @ItalianAirForce & @CNRsocial_ have reached space." Reference Link
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DWAC | Hot Stocks11:27 EDT SEC charges former DWAC Board Member, others for insider trading - The Securities and Exchange Commission has filed insider trading charges against Bruce Garelick, a former board member of Digital World Acquisition Corporation, a special purpose acquisition company; Michael Shvartsman and his firm Rocket One Capital; and Gerald Shvartsman for trading in advance of DWAC's October 2021 announcement that it had reached an agreement to acquire Trump Media & Technology Group Corp. The SEC's complaint alleges that, after DWAC appointed Garelick as a member of its board of directors in September 2021, Garelick learned about, and voted on, material nonpublic actions and updates regarding the negotiations between DWAC and its merger target, TMTG. Garelick, who was separately employed as the chief strategy officer at Rocket One Capital, then allegedly shared those updates with his boss, Michael Shvartsman, who in turn shared them with his brother, Gerald Shvartsman. Each then allegedly purchased DWAC securities on the open market based on the material nonpublic information they learned about DWAC. Michael Shvartsman placed his trades through an account in the name of Rocket One Capital. The defendants then sold their positions shortly after DWAC announced it had signed a merger agreement with TMTG and collectively realized illicit profits of more than $22.9M from those trades. The complaint further alleges that, despite being a DWAC director and thus having certain reporting obligations, Garelick failed to file SEC Forms 4 and 5 related to his transactions in DWAC securities. The SEC's complaint, filed in the United States District Court for the Southern District of New York, charges the defendants with violating the antifraud provisions of the federal securities laws and also charges Garelick with violating the reporting obligations of Section 16 of the Exchange Act. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest, and civil penalties against all defendants, as well as officer and director bars against Garelick and Michael Shvartsman. In a parallel action, the U.S. Attorney's Office for the Southern District of New York announced criminal charges against Garelick and the Shvartsmans.Reference Link
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AZN | Hot Stocks11:26 EDT SEC charges five individuals with insider trading before Alexion-Portola merger - The Securities and Exchange Commission announced it filed insider trading charges against five individuals, including a police chief in Dighton, Massachusetts, arising from trading before the announcement of a tender offer by Alexion Pharmaceuticals Inc. to acquire Portola Pharmaceuticals Inc. in May 2020. "Four of the defendants traded on nonpublic information obtained, directly or indirectly, from the fifth defendant, and realized more than $2.3M in ill-gotten gains and tipped others who realized more than $1.7M in trading profits," the SEC stated. On July 21, 2021, AstraZeneca announced it had completed the acquisition of Alexion Pharmaceuticals. Reference Link
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PFE | Hot Stocks11:24 EDT Former Pfizer statistician charged by SEC with insider trading - The SEC announced insider trading charges against Amit Dagar, a former Pfizer Inc. employee, and his close friend and business partner, Atul Bhiwapurkar, for trading in advance of the company's November 5, 2021, announcement that a randomized, double-blind study of its COVID-19 antiviral treatment, Paxlovid, was successful. Following that announcement in which Pfizer's CEO referred to the news as a "game-changer" in the global efforts to "halt the devastation" of the pandemic, the company's stock price increased by nearly 11%, the largest single-day price move in the stock since 2009. According to the SEC's complaint, Dagar was a senior statistical program lead for the Paxlovid drug trial, which began in July 2021 as part of the company's efforts to address the global health pandemic. On the day before the Paxlovid announcement, the complaint alleges, Dagar learned material, nonpublic information about the success of the trial. The complaint alleges that Dagar's and Bhiwapurkar's trading generated approximately $214,395 and $60,300 respectively in illicit profits, which amounted to one-day investment returns of 2,458 percent and 791%. The SEC's complaint was filed in U.S. District Court for the Southern District of New York. Reference Link
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DTE | Hot Stocks11:15 EDT DTE Energy appoints Joi Harris as president, COO - DTE Energy aannounced, effective July 3, Joi Harris, DTE Gas president, will be president and COO of DTE. In her new role, Harris will lead both utilities - DTE Gas and DTE Electric - as well as Customer Service, Information Technology, Corporate Services, and the Environmental Management and Safety organizations. She will report to Jerry Norcia, DTE chairman and CEO.
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LUV | Hot Stocks11:14 EDT Southwest extends flight schedule through March 6, 2024, adds seasonal service - Southwest Airlines extended its flight schedule through March 6, 2024, enabling Customers to book their early 2024 getaways. Southwest also announced it is adding new seasonal nonstop service. Beginning Jan. 13, 2024, Southwest will offer service on Saturdays between Omaha, Neb., and Fort Lauderdale/Hollywood, Fla. Southwest will also resume several seasonal routes beginning as early as Jan. 8, 2024, bringing convenient flights for Customers to take a break from winter weather. Southwest will resume daily service beginning Jan. 8, 2024, between Dallas and Fort Myers, Fla. and between Dallas and Palm Springs, Calif. A few days later, on Jan. 14, 2024, Southwest will resume flights on Sundays between Dallas and Louisville, Ky.
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RXT GOOG | Hot Stocks11:14 EDT Rackspace Technology announces partnership with Google Cloud - Rackspace Technology (RXT) and Google Cloud (GOOGL) announced a significant expansion of their partnership. Foundry for Generative AI by Rackspace for Google Cloud is dedicated to accelerating the secure, responsible, and sustainable adoption of generative AI solutions in enterprises across all industries, the companies said. "This partnership is a force multiplier to accelerate the pragmatic and secure use-case-based adoption of generative AI in businesses across all industries," said Srini Koushik, Rackspace CTO and global lead for FAIR. "With FAIR, Rackspace and Google Cloud are building on our shared values of putting the customer first, commitment to sustainability and technology innovation to align our offerings, multicloud capabilities, and highly skilled cloud workforce with Google Cloud's industry-leading AI capabilities to help our customers harness the true power of generative AI in a secure, responsible and human-friendly manner."
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BTRS | Hot Stocks11:12 EDT Billtrust appoints Philip Ragona as CLO, Esther Pomeleo-Fowler as CCO - Billtrust announced four new executive appointments. Joining Billtrust are Philip Ragona, Chief Legal Officer, Nick Izquierdo, Executive Vice President, Payments and Esther Pomeleo-Fowler, Executive Vice President/Chief Customer Officer. In addition, Christy Green has been promoted to Executive Vice President, Professional Services. Prior to joining Billtrust, Phil served as Senior Vice President and Deputy General Counsel for the Americas at Paysafe. Nick spent 13 years at FLEETCOR, most recently as President, Global Strategy, driving strategic imperatives and midterm growth. Prior to Billtrust, Esther spent 14 years with Blackbaud, most recently as Head of Customer Experience where she led all aspects of its global enterprise customer success organization.
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TOP | Hot Stocks10:57 EDT TOP Financial Group Ltd trading resumes
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ALKS | Hot Stocks10:53 EDT Alkermes shareholders re-elect all seven company director nominees - Alkermes announced that, at the company's 2023 annual general meeting, shareholders voted to re-elect all seven of Alkermes' director nominees - Emily Peterson Alva, Shane M. Cooke, Richard B. Gaynor, M.D., Cato T. Laurencin, M.D., Ph.D., Brian P. McKeon, Richard F. Pops and Christopher I. Wright, M.D., Ph.D. Sarissa Capital Management LP nominees Alexander Denner, Ph.D., Patrice Bonfiglio and Sarah Schlesinger, M.D. failed to achieve the necessary votes for election. Additionally, all other company proposals were approved by shareholders. Nancy Wysenski, Lead Independent Director of Alkermes' Board of Directors, said, "We are pleased that all seven company nominees were re-elected to the board and appreciate the active engagement with our shareholders as well as their feedback and support. We believe this outcome is a reflection of our strong performance and robust corporate governance practices. Looking ahead, we remain focused on executing on our strategic priorities for the benefit of all shareholders, including our commitment to operational efficiency, disciplined capital allocation and profitability. We recognize that our work is far from done and look forward to continuing our active engagement with shareholders as we seek to drive significant value creation."
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TOP | Hot Stocks10:47 EDT TOP Financial Group Ltd trading halted, volatility trading pause
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SPNT | Hot Stocks10:32 EDT SiriusPoint appoints Linda Lin as Chief Legal Officer - SiriusPoint has appointed Linda Lin as Chief Legal Officer, effective July 24. Lin will join SiriusPoint's Executive Leadership Team, reporting to CEO Scott Egan. Lin joins SiriusPoint from Coaction Global, formerly Prosight, where she led the legal, regulatory, compliance, product development and internal audit functions as General Counsel and Corporate Secretary. "Jimmy Yang, who stepped into the role of Interim General Counsel in February 2023, will work closely with Ms Lin to ensure a seamless handover and transition," the company stated.
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IMBI | Hot Stocks10:14 EDT iMedia Brands files for Chapter 11 bankruptcy protection - iMedia Brands has filed a voluntary petition for Chapter 11 bankruptcy with the District of Delaware courts, according to documents posted by the court. Shares of iMedia are down 28c, or 14% to 16.5c in morning trading.
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MRCY LDOS | Hot Stocks10:02 EDT Mercury Systems appoints David Farnsworth as CFO - Mercury Systems announced the continuation of its previously announced Board of Directors and leadership refreshment process, with the appointments of: David Farnsworth as CFO, effective July 17, 2023. He was previously the CFO of HawkEye 360. Roger Krone, former Chairman and CEO of Leidos, as an independent director, effective June 28, 2023. He will also serve as a member of the Board's Nominating and Governance Committee. As previously announced, Michelle McCarthy, who has served as Interim CFO since January 2023, will remain in her role as Senior Vice President and Chief Accounting Officer.
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ATIP | Hot Stocks10:00 EDT ATI Physical Therapy falls -5.2% - ATI Physical Therapy is down -5.2%, or -54c to $9.82.
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GOGN | Hot Stocks10:00 EDT GoGreen Investments falls -5.3% - GoGreen Investments is down -5.3%, or -61c to $10.89.
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LNN | Hot Stocks10:00 EDT Lindsay falls -6.4% - Lindsay is down -6.4%, or -$8.02 to $116.70.
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FREY | Hot Stocks10:00 EDT Freyr Battery rises 22.4% - Freyr Battery is up 22.4%, or $1.69 to $9.24.
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JOBY | Hot Stocks10:00 EDT Joby Aviation rises 23.6% - Joby Aviation is up 23.6%, or $2.12 to $11.07.
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CSV | Hot Stocks10:00 EDT Carriage Services rises 25.0% - Carriage Services is up 25.0%, or $7.02 to $35.06.
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ATIP | Hot Stocks09:47 EDT ATI Physical Therapy falls -5.3% - ATI Physical Therapy is down -5.3%, or -55c to $9.81.
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GOGN | Hot Stocks09:47 EDT GoGreen Investments falls -5.6% - GoGreen Investments is down -5.6%, or -64c to $10.86.
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LNN | Hot Stocks09:47 EDT Lindsay falls -11.0% - Lindsay is down -11.0%, or -$13.68 to $111.04.
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CSV | Hot Stocks09:47 EDT Carriage Services rises 18.6% - Carriage Services is up 18.6%, or $5.21 to $33.25.
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JOBY | Hot Stocks09:47 EDT Joby Aviation rises 17.6% - Joby Aviation is up 17.6%, or $1.58 to $10.54.
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GBX | Hot Stocks09:47 EDT Greenbrier rises 20.8% - Greenbrier is up 20.8%, or $6.76 to $39.24.
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ALLR | Hot Stocks09:43 EDT Allarity Therapeutics Inc trading resumes
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ATVI MSFT | Hot Stocks09:40 EDT CMA application refused by Tribunal in Activision-Microsoft fight - In a ruling posted by the U.K. Competition Appeal Tribunal, the tribunal stated: "Without prior warning, on 28 June 2023, the CMA applied to adjourn the substantive hearing date of 28 July to 4 August 2023... The Tribunal has carefully considered the CMA's application. It has done so overnight, conscious that given the imminence of the substantive hearing, the parties need to know where they stand right away... The CMA's application is refused... We consider that the CMA has not paid sufficient heed to the true public interest in this case - which is the swift resolution of Microsoft's Notice. The CMA has chosen to re-visit a matter already decided (namely, an end July/early August hearing and not an October hearing) when there has been no material change of circumstance. Furthermore, the CMA has made this application indefensibly late, with no explanation. Finally, there has been no attempt by the CMA to explore - either with Microsoft or with the Tribunal - ways in which the burden might be eased." Reference Link
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ALLR | Hot Stocks09:33 EDT Allarity Therapeutics Inc trading halted, volatility trading pause
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DSX | Hot Stocks09:30 EDT Diana Shipping signs $100M term loan facility - Diana Shipping announced that on June 26, 2023, it signed a term loan facility with DNB Bank ASA for up to $100 million with maturity date up to December 2029, subject to mutually agreed margin reset at the end of the fourth year. Yesterday, it concluded the drawdown of $100 million, secured by ten vessels. The proceeds from the loan facility refinanced other loan facilities with an aggregate outstanding amount of approximately $68.7 million, namely two existing loan facilities with ABN AMRO Bank N.V. of approximately $31.4 million and of approximately $37.3 million related to the same ten vessels. The remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement and/or general corporate purposes. On June 20, 2023, The Company also signed a term loan facility with Nordea Bank Abp, filial i Norge for up to $22.5 million with maturity date in June 2028. On June 27, 2023, it concluded the drawdown of $22.5 million, secured by four vessels. The proceeds from the loan facility refinanced the existing loan facility with an outstanding amount of approximately US$20.9 million, with Nordea Bank Abp, filial i Norge related to the same four vessels. The remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement and/or general corporate purposes.
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IKT | Hot Stocks09:30 EDT Inhibikase Therapeutics announces 1-for-6 reverse stock split - Inhibikase Therapeutics announced that it will effect a 1-for-6 reverse stock split of its common stock. The reverse stock split will become effective at 12:01A.M June 30, 2023. Inhibikase's common stock will continue to be traded on the Nasdaq Capital Market under the symbol "IKT" and will begin trading on a split-adjusted basis when the market opens on June 30, 2023. The reverse stock split, which was approved by Inhibikase's stockholders on June 23, 2023, is intended to bring the company into compliance with Nasdaq's minimum bid price requirement. The new CUSIP number for the company's common stock following the reverse stock split will be 45719W205.
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AZN | Hot Stocks09:23 EDT AstraZeneca: Imfinzi + Imjudo demonstrate meaningful OS benefit for HCC patients - Updated results from the HIMALAYA Phase III trial showed AstraZeneca's IMFINZI or durvalumab plus IMJUDO demonstrated a sustained, clinically meaningful overall surviva OS benefit at four years for patients with unresectable hepatocellular carcinoma, HCC, who had not received prior systemic therapy and were not eligible for localized treatment. These results from HIMALAYA will be presented today at the 2023 European Society for Medical Oncology World Congress on Gastrointestinal Cancer in Barcelona, Spain. Bruno Sangro, MD Director of the Liver Unit and Professor of Internal Medicine at Clinica Universidad de Navarra, Pamplona, Spain and a lead investigator in the trial, said: "Historically, only seven percent of patients with advanced liver cancer have survived five years, making the HIMALAYA long-term survival data especially meaningful. One in four patients treated with the STRIDE regimen were still alive at four years, reinforcing this novel regimen as a standard of care in this setting."
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AZN | Hot Stocks09:19 EDT AstraZeneca says Imfinzi/Imjudo show sustained OS benefit in HIMALAYA trial - Updated results from the HIMALAYA Phase 3 trial showed AstraZeneca's Imfinzi plus Imjudo demonstrated a sustained, clinically meaningful overall survival, or OS, benefit at four years for patients with unresectable hepatocellular carcinoma, or HCC, who had not received prior systemic therapy and were not eligible for localized treatment, the company announced. At four years of follow-up, these latest data show that a single priming dose of Imjudo added to Imfinzi, called the STRIDE regimen, reduced the risk of death by 22% compared to sorafenib. An estimated 25.2% of patients treated with the STRIDE regimen were alive at four years versus 15.1% for those treated with sorafenib. An ad-hoc exploratory analysis showed that the treatment effects of the STRIDE regimen versus sorafenib were consistent across all clinically relevant subgroups of patients, as well as those surviving at least three years, regardless of the underlying disease cause. These results from HIMALAYA will be presented today at the 2023 European Society for Medical Oncology, or ESMO, World Congress on Gastrointestinal Cancer, AstraZeneca noted.
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PSNY TSLA | Hot Stocks09:14 EDT Polestar Automotive in pact with Tesla on new North American Charging Standard - Polestar (PSNY) has signed an agreement with Tesla (TSLA) to adopt the new North American Charging Standard, NACS, which will enable access to Tesla's expansive Supercharger network for all Polestar drivers in the United States and Canada..."This is a great win for our North American customers! We salute the pioneering work Tesla has done to speed up the adoption and increase the popularity of electric vehicles, and it's great to see the Supercharger network being made available in this way. With 12,000 charging points today, a number that will only keep growing, this move will greatly increase the rate of EV adoption in a key automotive region," says Thomas Ingenlath, CEO. The agreement applies to current and future Polestar models. To maintain compatibility with existing CCS public fast charging infrastructure in North America, future NACS-equipped Polestar vehicles will come with a CCS adapter.
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AMIH | Hot Stocks09:11 EDT American International Holdings provided shareholder update - American International provided a shareholder update on ongoing corporate operations. Integration Of Cycle Energy: On March 27th, 2023, AMIH announced that it had completed the acquisition of Cycle Energy Corp. a diversified energy company based in the state of Texas and currently operates three vertically integrated businesses. The finance team is now nearing completion of the 10Q for 2023 which will have the integrated financial and business plan of Cycle Energy Corp. Oil production operations: The past few months the Electra production team has been focusing on maintaining the previously announced average production of approximately 500 barrels per month. The operations team has been working aggressively to bring on as much production while working within the constrained budget and cashflow while management restructures the company and positions the company to be able to raise capital to capitalize field operations. Acquisition Strategy: AMIH is currently looking at several possible "bolt on" properties to our existing leases as acquisition candidates. Cycle oil and gas production operations are currently focused on Wichita and Wilbarger counties however intends to expand that focus through the area into neighboring counties. Technologies: Cycle continues to work on the development of its core technology. The company intends to ramp up development of the GTL project mid to late 2023.
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EXPI | Hot Stocks09:09 EDT eXp Realty launches Boost program - eXp Realty announced the launch of its Boost program, designed to financially incentivize qualifying independent teams and brokerages to join eXp Realty. As part of this program, eXp Realty will provide financial incentives to independent teams and brokerages that are culturally aligned, have more than 50 agents and a minimum of $100M in sales volume in the originating country over the previous 12-month fiscal period. International qualifications to be released. Additional qualifications apply. Cannot be affiliated with any non-independent franchise.
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VIR MRNS | Hot Stocks09:09 EDT Vir Biotechnology appoints Sasha Damouni Ellis as EVP, CCAO - Vir Biotechnology (VIR) announced the appointment of Sasha Damouni Ellis as Executive Vice President, EVP, and Chief Corporate Affairs Officer, CCAO, effective July 10, 2023. Damouni Ellis will be responsible for the Company's strategic approach to corporate communications, government affairs, investor relations and patient advocacy, as well as for establishing Vir's corporate social responsibility and environmental, social and governance efforts. She will report to Vir's Chief Executive Officer Marianne De Backer, M.Sc., Ph.D., MBA, and will join the Company's Executive Management Team. Damouni Ellis joins Vir from Marinus Pharmaceuticals (MRNS), where she served as Senior Vice President, Corporate Affairs and Investor Relations.
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CPXWF | Hot Stocks09:08 EDT Capital Power executes contracts for solar, natural gas, batteries - Capital Power Corporation announced Execution of three long-term contracts in North Carolina and Ontario, totalling 287 megawatts of additional generation and energy storage capacity, Execution of a contract in the Ontario Independent Electric System Operator's Same Technology Upgrade Solicitation, Successful bid in the Ontario IESO's Expedited Long-Term RFP, and Updates on timing and costs of the Genesee Repowering Project in Alberta. The Company executed a 25-year, fixed price renewable power purchase agreement for 100% of the output from its Maple Leaf Solar project with Duke Energy Progress as part of the 2022 Duke Energy Solar Procurement Program. Maple Leaf is a 73 MWac solar development project in Selma, North Carolina. The construction of the Project is planned to begin in 2025 at a total cost of approximately US$165 million with an expected commercial operations date in the fourth quarter of 2026, pending completion of the Duke interconnection upgrades. Local zoning approvals were obtained in May 2023 and detailed design and permitting are underway. Capital Power has been an active participant in the Ontario IESO's expedited call for new power generation and capacity in high priority areas to help address the IESO's forecasted shortfall, which has resulted in five successful bids. Capital Power has: Executed two long-term contracts for the East Windsor Expansion with a term to 2040 and the York BESS project which is contracted until 2047 as part of the IESO's Expedited Long-Term RFP process. Both projects are expected to begin commercial operations in 2025. Executed a 3-year contract extension for the York Energy Centre associated with its successful bid in the Same Technology Upgrade Solicitation for approximately 38 MW. The upgrade will increase York's contracted capacity from 394 MW to 431 MW. The contract extension applies to the new contracted capacity of 431 MW and extends the current contract from 2032 to 2035. Previously been awarded a 6-year contract extension through the Same Technology Upgrade Solicitation for the Goreway Power Station. Been selected as a successful proponent for an approximately 22-year contract to 2047 for the Goreway BESS project as part of Category 2 of the IESO's Expedited Long-Term RFP. Capital Power expects to execute this contract by July 25, 2023. The project is expected to enter service in 2025. With the addition of these contracts, the Company will have more than 1,500 MW of contracted capacity in Ontario that support this key market's critical power needs and significantly increase Capital Power's contracted cash flow profile. As a result of construction delays on the Repowering Project, the Company is modifying the commissioning timelines for the repowered units. Simple cycle commissioning of Unit 1 is expected to commence in December 2023, approximately 60 days later than initially anticipated. Simple cycle commissioning for Unit 2 is expected to be further delayed and will begin in March 2024. Combined cycle commissioning is expected to begin in April 2024 and June 2024. The total capital costs for the Repowering Project have increased to $1.35 billion as a result of cost escalations and increased labour costs. The delay in commissioning is expected to have a modest impact on the full year 2023 AFFO and adjusted EBITDA guidance as the unfavourable impact will be offset across the portfolio. The Company expects to be above the midpoint of the guidance range despite an unforced outage at Genesee during periods of high pricing in June that dampened a strong start to the second quarter relative to the guidance provided in the Company's first quarter 2023 report. Management is currently evaluating the impact of commissioning delays on the Company's target of being off coal in 2023 and expects to provide additional information on the 2023 outlook and our off-coal target with the second quarter 2023 earnings release.
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MTTR | Hot Stocks09:06 EDT Matterport digital twin platform selected by Tenzan Sake Brewery - Matterport announced Tenzan Sake Brewery has selected Matterport's digital twin platform and 3D capture technology to digitally recreate its historic facility, including the production line of its sake, Shichida. As the brewery expands to promote the development and export of its world-class sake, it will utilize Matterport's digital twin platform to reduce the costs of managing the historic facility, as well as promote the craftsmanship of its brewery to worldwide audiences. "Tenzan Sake Brewery is dedicated to brewing sake in a way that preserves their traditions, while challenging themselves to iterate with new techniques and technologies," said Howard Xiao, President and Operating Officer, Matterport Japan K.K. "A critical selling point of Matterport was our ability to help the nearly 150 year-old brewing facility operate more efficiently, while helping promote the culture of sake not only in Japan, but globally. We see significant opportunities to support the digital transformation of Japan's traditional industries while maintaining the spirit and history of these professions."
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EVLO | Hot Stocks09:05 EDT Evelo Biosciences announces 1-for-20 reverse stock split - Evelo Biosciences announced that its Board of Directors has approved a 1-for-20 reverse stock split of the Company's common stock. The reverse stock split will become effective at 5:00 p.m. Eastern Time today, June 29, 2023, after close of trading on The Nasdaq Global Select Market. The Company's common stock is expected to commence trading on a split-adjusted basis when the markets open on June 30, 2023 under the existing trading symbol "EVLO." The new CUSIP number for the Company's common stock following the reverse stock split will be 299734 202. The primary goal of the reverse stock split is to increase the per share market price of the Company's common stock to meet the minimum per share bid price requirement for continued listing on The Nasdaq Global Select Market. As a result of the reverse stock split, every 20 shares of the Company's common stock issued and outstanding will be automatically reclassified into one new share of the Company's common stock.
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IMNM | Hot Stocks09:05 EDT Immunome and Morphimmune sign definitive merger agreement - Immunome and Morphimmune, a private biotechnology company focused on developing targeted oncology therapeutics, have entered into a definitive merger agreement. The Boards of Directors of both companies have approved the all-stock transaction. The combined company, which will operate as Immunome and retain the same ticker symbol, will be headquartered in Seattle, WA and will maintain cost-efficient research lab facilities in Exton, PA and West Lafayette, IN. Clay Siegall, Ph.D., who was appointed CEO and President of Morphimmune earlier this year, will serve as the CEO, President, and Chairman of the Board of Directors of Immunome. Siegall previously served as the CEO and President of Seagen, which he co-founded in July 1997. The companies also announced an oversubscribed private placement investment of $125M with participation from Enavate Sciences, EcoR1 Capital, Redmile Group, Janus Henderson Investors, Avidity Partners, Woodline Partners LP, and other leading institutional investors. In connection with the PIPE, James Boylan, Ceo of Enavate Sciences, will be appointed to the Board of Directors of Immunome. Both the merger and private placement are expected to close by the end of Q4. The company expects to submit three INDs within 18 months following the closing, including the anti-IL-38 program, which is now slated for submission in Q1 2024.
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USEA | Hot Stocks09:04 EDT United Maritime sells remaining tanker. acquisition of Panamax Vessel - United Maritime announced that it has entered into an agreement with an unaffiliated third party for the sale of its remaining LR2 tanker vessel, the 2008-built M/T Epanastasea. The vessel is scheduled to be delivered to its new owner by mid-August 2023. The vessel's gross sale price is $37.5 million, and the transaction is subject to customary closing procedures. In addition, the Company has entered into an agreement to acquire a Panamax dry bulk vessel built in 2011 in Japan, with a cargo carrying capacity of 76,361 dwt and will be renamed M/V Exelixsea. The aggregate purchase price is $17.8 million and is expected to be funded with cash on hand, including the proceeds from the sale of the M/T Epanastasea. The Company is in advanced discussions with the lender of the M/T Epanastasea to roll over the $15.0 million loan secured by the M/T Epanastasea to the M/V Exelixsea under substantially the same terms. The vessel is expected to be delivered to the Company between August and October 2023. Stamatis Tsantanis, the Company's Chairman & Chief Executive Officer, stated: "The announced sale and acquisition transactions are a testament of our ability to generate significant profits for our shareholders. Since our initial public offering approximately one year ago, we have managed to execute a series of profitable transactions, reaching almost one million DWT, without diluting our shareholders. In addition, we have distributed $1.15 per share in cash dividends, which represents approximately 45% cash yield on our recent share price."
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PRVA | Hot Stocks09:03 EDT Privia Health announces expansion of, changes to board of directors - Privia Health Group announced that Adam Boehler, founder and Managing Partner of Rubicon Founders, will join the Company's Board of Directors effective July 1, 2023. He will replace Will Sherrill, Principal with Pamplona Capital, who is resigning his Board seat effective July 1, 2023 following Pamplona's sale of its ownership position in Privia Health through a secondary offering that closed on May 8, 2023. Parth Mehrotra, currently the Company's President and Chief Operating Officer, will also join the Board effective July 1, 2023, the date when he becomes the Company's CEO. Current CEO Shawn Morris, who is retiring, will remain on the Board. In connection with these elections, the size of the Board was increased to ten directors.
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BOF | Hot Stocks09:02 EDT BranchOut Food announces primary emphasis on the private label channel - BranchOut Food announces its primary emphasis on the private label channel as a key business strategy. While the company will continue to support and grow its robust brand portfolio, it believes that private label offers the most advantageous path for growth and profitability. With rising grocery prices, the demand for affordable alternatives has driven the popularity of private label products. BranchOut Food Inc. strategically aligns itself with the private label market to capitalize on this trend. Having already secured significant private label business from major retailers, the company aims to meet the growing consumer demand for high-quality, affordable options. The private label industry is valued at over $200B, with an annual growth rate exceeding 11%. BranchOut Food is well-positioned to supply this thriving market, leveraging its unique technology platform and strategic South American supply chain.
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NVEI | Hot Stocks09:02 EDT Nuvei, Surge elevate integrate payments to streamline operations - Nuvei that it is a recommended payments partner of Sage, the leader in accounting, financial, HR, and payroll technology, for small and mid-sized businesses. After being directly integrated for more than a decade, and successfully supporting thousands of businesses, Sage will now be offering Nuvei as a Recommended Solution for its ERP platform. Nuvei's platform is uniquely connected to the entire Sage ecosystem, including its Sage 50, 100, X3, 300, 500, and Intacct solutions.
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BASFY | Hot Stocks08:55 EDT BASF, Yara to evaluate low-carbon blue ammonia project at Gulf Coast - BASF and Yara Clean Ammonia are collaborating on a joint study to develop and construct a world-scale low-carbon blue ammonia production facility with carbon capture in the U.S. Gulf Coast region. The companies are looking into the feasibility of a plant with a total capacity of 1.2 to 1.4 million tons p.a. to serve the growing global demand for low-carbon ammonia. The companies plan to complete the feasibility study on the low-carbon blue ammonia production facility by end of 2023.
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AQST ACGN | Hot Stocks08:45 EDT Aquestive Therapeutics appoints Carl Kraus as CMO - Aquestive Therapeutics announced the appointment of Carl Kraus, M.D. as Chief Medical Officer of the Company. Aquestive named Carl Kraus, M.D. as CMO effective June 26, 2023. Dr. Kraus joins the Aquestive team from Aceragen, where he served as CMO from October 2021 to April 2023.
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AQST | Hot Stocks08:44 EDT Aquestive Therapeutics submits NDA filing for libervant - Aquestive submitted a New Drug Application to the U.S. Food and Drug Administration for approval of Libervant Buccal Film for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity in patients between two and five years of age. The Company received tentative approval for Libervant for the treatment of intermittent, stereotypic episodes of frequent seizure activity in patients 12 years of age and older in August 2022, but is currently under an orphan drug block to market access until January 2027. Diastat Rectal Gel is the only treatment currently available to this patient population for this indication. The Company expects to hear from the FDA on the acceptance of, and issuance of a target action date on, this pediatric NDA within approximately two months.
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PRRWF CSV | Hot Stocks08:43 EDT Park Lawn confirms all cash proposal to acquire Carriage Services - Park Lawn (PRRWF) confirmed, in response to industry media rumors, that it has submitted a preliminary all cash proposal to the Board of Directors of Carriage Services (CSV) to purchase all of the outstanding stock of Carriage. The proposal was made confidentially and subject to the completion of satisfactory due diligence and the negotiation and execution of a mutually satisfactory definitive acquisition agreement. The company said, "The Company takes a disciplined approach to acquisitions with clearly defined strategic and financial criteria, and is committed to maintaining a prudent capital structure. Park Lawn has partnered with a large private equity firm and does not anticipate that it would require any public equity financing in order to complete such a transaction and that any such transaction would be accretive to Park Lawn's earnings on a fully diluted basis. There can be no assurance that Park Lawn's proposal will result in a definitive agreement, or that the proposed transaction or any other transaction will be approved or consummated. Park Lawn does not intend on commenting on the proposal or further developments regarding the proposal unless it deems further disclosure is appropriate or required."
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CYRX | Hot Stocks08:42 EDT Cryoport selected by IVFAustralia as supply chain solutions provider - Cryoport has been selected by IVFAustralia, an Australian-based provider of full-service fertility care, IVF and related services as part of the Virtus Health network, as its exclusive supply chain solutions partner for its global reproductive material shipments. The multi-year agreement provides IVFAustralia and its fertility patients with the most advanced cryogenic shipping service in the world.
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VRAR | Hot Stocks08:41 EDT Glimpse Group's Sector 5 completes engagement with Textron - Sector 5 Digital completed a 6-figure engagement with Textron Aviation to develop captivating immersive marketing materials for the highly anticipated debut of its Cessna Business Jet - The Citation Ascend.
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BLIN | Hot Stocks08:40 EDT Bridgeline Digital's HawkSearch selected by Valken Sports - Bridgeline Digital announced that Valken Sports has selected HawkSearch, Bridgeline's advanced AI powered search solution, to drive online business over its five ecommerce sites. The global distributor has committed to a 36-month agreement and chose HawkSearch to reinforce its digital presence after recently seeing the powerful features and search results demonstrated in HawkSearch's Multi-Store- Front Webinar webinar with BigCommerce and Obundle. Valken will leverage HawkSearch's Rapid UI framework to implement the solution with a tight turnaround deadline, and advanced functionality such as Recommendations and Smart Search to power revenue through more efficient online sales and an enhanced customer experience.
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BTCS | Hot Stocks08:39 EDT BTCS Series V Preferred shares available to trade on Upstream - BTCS announced trading for its Series V Preferred shares will become available at 10:00am ET under the symbol 'BTCSP' on Upstream, the trading app for digital securities and NFTs powered by Horizon Fintex and MERJ Exchange Limited.
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NVTS | Hot Stocks08:39 EDT Navitas Semiconductor, Plexim announce partnership to release PLECS models - Navitas Semiconductor and Plexim GmbH announce a partnership to release GeneSiC G3 SiC MOSFET and Gen 5 MPS diode PLECS thermal loss models for highly-accurate simulations of complete power electronics systems. "Accurate, empirically-based simulation models maximize the chance of first-time-accurate designs, accelerating time-to-market and time-to-revenue," noted Dr. Ranbir Singh, Navitas EVP for the GeneSiC business line. "For the power designer, understanding the leading-edge performance of GeneSiC MOSFETs and MPS diodes with detailed device characteristics, plus power, efficiency and thermal analysis is a critical competitive advantage."
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MBOT | Hot Stocks08:38 EDT Microbot Medical completes extensive pre-clinical study performed in US - Microbot Medical announced the successful completion of an extended pre-clinical study held by leading key opinion leaders at a New York-based research lab. A team of leading interventional radiologists utilized the system and performed dozens of catheterizations, including the utilization of the system's remote operation capabilities, to pre-determined vascular targets, with a 100% success rate of reaching the intended target with no observable on-site complications. "We continue to expand our close relationships with international KOLs and, for the first time, we incorporated executives from the medical industry. We believe that our LIBERTY Robotic Surgical System has the potential to benefit patients, physicians and commercial organizations from the medical field as we continue to advance in the regulatory process with the FDA and other regions across the world. Following several successful studies in Europe, and now in the US, the support and endorsement we receive has great value for our future commercial plans," commented Harel Gadot, Microbot's Chief Executive Officer.
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BSGM | Hot Stocks08:38 EDT BioSig Technologies joins Webull Corporate Connect - BioSig Technologies is now actively participating on the Webull Corporate Connect platform, a specialized channel for direct investor communication and audience engagement, including Q&A.
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IPW | Hot Stocks08:37 EDT iPower meets Nasdaq bid price compliance - iPower announced it received confirmation from The Nasdaq Stock Market that it has regained compliance with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550. In November 2022, iPower received notice from Nasdaq that its common stock failed to maintain a minimum bid price to remain listed on the exchange.
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ISPR | Hot Stocks08:37 EDT Ispire sees Q4 cannabis vaping product revenue at upper end of $12M-$15M - Ispire Technology announced that its fourth quarter 2023 revenue outlook for its cannabis vaping hardware would be on the upper end of the previously projected range of $12 million to $15 million. The Company's fiscal fourth quarter and full year 2023 ends on June 30, 2023. Ispire commenced marketing cannabis vaping hardware in mid-2020. The updated revenue projection from cannabis vaping hardware for the fourth quarter of 2023 is at $14 million to $15 million, on the upper end of the previous projection of $12 million to $15 million. The updated range represents year-over-year growth of 247% to 271% from the fourth quarter 2022, and represents sequential growth of 84% to 98%.Additionally, Ispire is projecting a fourth quarter total revenue at $29 million to $31 million, representing growth of 33% to 42% from the fourth quarter of 2022.
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DTST | Hot Stocks08:36 EDT Data Storage secures multi-million dollar contract - Data Storage announced that it has secured a multi-million dollar contract with a leading provider of end-to-end business processes for customers globally through its CloudFirst subsidiary. Chuck Piluso, Chief Executive Officer of Data Storage Corporation, commented, "We are proud to have secured this substantial subscription-based contract with a leading business process solutions provider who has customers around the world. This client was looking to outsource their power systems and following an extensive analysis, they deemed our company and solutions to be superior to competitors on the market. Specifically, we were selected given our ability to execute and deliver a fully managed solution that addresses the client's needs while enabling increased support as they grow over time. We are currently implementing our solutions and look forward to exploring additional opportunities with this client in the future."
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NBSE | Hot Stocks08:35 EDT NeuBase Therapeutics presents NHP repeat dosing data for Stealth Editors - NeuBase Therapeutics, announced a broad set of preclinical data, including non-human primate, NHP, repeat dosing data, for its Stealth Editors development program that demonstrate the ability to achieve gene editing with a non-immunogenic system. These preclinical data were featured in a poster presentation by Dr. Dani Stoltzfus, Vice President of Research at NeuBase, titled, "Stealth Editing With Peptide Nucleic Acids: A New Class of In Vivo Gene Editors," at the 28th American Peptide Symposium, which is being held in Scottsdale, AZ, from June 24-29, 2023. Overview of Preclinical Studies and Results Presented at APS 2023: Stealth Editors are Non-Immunogenic in Non-Human Primates - The Company demonstrated that Stealth Editors do not elicit an innate nor acquired immune response in NHPs as measured by a cytokine panel: Cynomolgus NHPs were given two doses of an intravenous administration, on days 1 and 29: vehicle control; MC3 lipid nanoparticle control; 0.10 mg/kg Stealth Editor encapsulated in an LNP; and 0.16 mg/kg Stealth Editor co-encapsulated with a single-stranded oligonucleotide donor in an LNP; On days 0, 1 and 29, blood was drawn and serum was assessed for IFN-gamma, IL-2, IL-6, IL-8, IL10 and IL-1beta cytokine induction using a Meso Scale Discovery multi-spot assay; Normal cytokine ranges were identified in healthy untreated cynomolgus monkeys by MSD; and All absolute values of cytokines were within the historical control ranges. The conclusion from these data is that Stealth Editors do not elicit innate nor acquired immune responses in the encapsulated format in which they would be administered systemically. The Company believes this is likely to be an important differentiator of its technology when transitioned to in vivo gene editing.
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GSIT | Hot Stocks08:35 EDT GSI Technology receives potential $1.25M award from Space Development Agency - GSI Technology announced its receipt of an Other Transaction Agreement award with a total potential value of approximately $1.25M with the Space Development Agency for the development of a dual use Next-Generation Associative Processing Unit-2 for Enhanced Space-Based Capabilities. The U.S. Space Force is actively seeking solutions to address current limitations in processing big data needed to execute the mission objectives of the SDA within the evolving and challenging space environment. This award was competitively selected through the Small Business Innovation Research program, a competitive program that encourages small businesses to engage in federal research and development with the potential for commercialization. Under the terms of this Direct to Phase II award, GSI Technology will develop an advanced non-Von-Neumann Associative Processing Unit-2, compute in-memory IC, and design and fabricate an APU2 Evaluation Board. Pursuant to an agreed-upon schedule, GSI will receive milestone payments totaling an estimated $1.25M upon the successful completion of predetermined milestones.
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LGST | Hot Stocks08:35 EDT Semper Paratus Acquisition Corp trading resumes
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GGR | Hot Stocks08:34 EDT Gogoro selected by India's State of Maharashtra for battery infrastructure plan - Gogoro and the Indian State of Maharashtra announced that the Maharashtra government had presented Gogoro with an offer letter to enter into an 'Ultra Mega Project' agreement to manufacture vehicles, smart battery packs and battery swap stations, and deploy an open and accessible battery swapping infrastructure in the State beginning in late 20231. The proposed Ultra Mega Project deal would exceed $1.5B and include financial incentives and support from Maharashtra. The offer letter follows a MOU between Maharashtra and Gogoro that was previously announced at Davos in January. The Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding $500M that usually result in government incentives to ensure successful project execution. Gogoro's request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the agreement soon. The battery swapping infrastructure expects to begin deploying across Maharashtra in late 2023. which will leverage Gogoro's smart energy ecosystem including smart battery stations, swapping technologies. With more than 120 million residents, Maharashtra is India's largest economy and industrialized State with a gross domestic product of more than $450B that accounts for 16% of India's industrial output.
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RSLS | Hot Stocks08:33 EDT ReShape Lifesciences signs preferred partner agreement with Hive Medical - ReShape Lifesciences announced the signing of a preferred partner agreement with Hive Medical. Hive's software suite leverages AI, machine-learning, SMS, and patient self-service technology to increase patient volume.
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MMMB | Hot Stocks08:32 EDT MamaMancini's acquires remaining interest in Chef Inspirational Foods - MamaMancini's Holdings has purchased the remaining 76% interest in Chef Inspirational Foods, a deli prepared food sales agent, following up on the June 2022 acquisition of a 24% minority interest in CIF. The remaining 76% interest in CIF was purchased for $3.65 million at an implied enterprise value of $4.8 million. $2.15 million of the purchase price is payable in cash in two tranches, one due immediately at closing and the second in June 2024. The $1.5 million common stock component is payable in June 2025, based on the market price of MamaMancini's common stock at that time.
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GM | Hot Stocks08:31 EDT GM Defense incorporates GM Defense Canada - GM Defense announced that it incorporated GM Defense Canada, in alignment with GM Defense International, which was established in 2022. As GM Defense expands and pursues additional international programs, the formation of GM Defense Canada will strengthen the business' ability to support efforts to modernize the Canadian Armed Forces.
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KTTA | Hot Stocks08:31 EDT Pasithea Therapeutics completes GMP manufacturing for PAS-004 - Pasithea Therapeutics has completed manufacturing of GMP-compliant Phase 1 clinical supplies of the active pharmaceutical ingredient of its lead product candidate PAS-004, a next-generation macrocyclic MEK Inhibitor. GMP-compliant manufacturing of API was the final step needed to support the Investigational New Drug application that the Company expects to file with the U.S. Food and Drug Administration in the second half of 2023. The Company intends to utilize this supply of PAS-004 for its upcoming Phase I clinical trial. Following the anticipated submission of the IND application with the FDA, Pasithea plans to initiate a Phase 1 clinical trial in healthy volunteers by the end of 2023 with clinical results, including pharmacokinetic, pharmacodynamic and safety data, anticipated in the first half of 2024.
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MEIP INFI | Hot Stocks08:26 EDT MEI Pharma: Letter to holders highlights value of Infinity Pharma transaction - MEI Pharma (MEIP) issued the following letter to shareholders reiterating the Board of Directors recommendation to vote FOR the pending transaction with Infinity Pharmaceuticals (INFI) in connection with the Company's special meeting on July 14..."The special meeting of shareholders at which you will have the opportunity to vote FOR our pending transaction with Infinity Pharmaceuticals, Inc. is fast approaching. Our transaction with Infinity provides our shareholders the opportunity to benefit from the upside potential of a combined company that is well capitalized and positioned to advance a diversified pipeline. To capture that opportunity, we encourage you to vote FOR the proposals related to the transaction in connection with the special meeting of shareholders on July 14"
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EXAI | Hot Stocks08:22 EDT Exscientia expands tech leadership team, CTO Pairaudeau stepping down - Exscientia announced that it is expanding its technology management structure to accelerate application of Exscientia's innovative technologies...This includes the promotion of three experienced leaders to Exscientia's executive committee... Professor Charlotte Deane MBE, Chief AI Officer; Eileen Jennings-Brown, Chief Information Officer Dr. John P. Overington, PhD, Chief Data Officer Dr. Garry Pairaudeau, PhD, Exscientia's Chief Technology Officer, is stepping down and will remain available as an advisor to the company until December 31.
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XRTX | Hot Stocks08:20 EDT Xortx Therapeutics appoints James Fairbairn as interim CFO - The Company announces the appointment of James Fairbairn as Interim CFO. James Fairbairn was the Company's CFO from November 2018 through July 2021.
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RNLSY | Hot Stocks08:19 EDT Renault raises FY23 operating margin view to 7%-8% vs. 6% prior - Sees automotive operational free cash flow superior or equal to EUR 2.5B vs. superior or equal to EUR 2.0B previously. The company states: "This improvement is mainly driven by the quality of the sales mix thanks to the success of our new launches and to our commercial policy focused on value." CEO Luca de Meo also stated: "Renault Group reaches record levels of performance. These results are the outcome of our strategy focused on value and of the unwavering commitment of the teams, over the last 3 years for Renaulution which is transforming the Group in depth. Thus, Renault Group upgrades its financial outlook for the year, thanks to the continuous efforts to reduce costs and to the unprecedented product offensive in the Group's history. This product offensive, across all our brands, has only just begun and will further improve the Group's performance, while leading a unique transformation to become the Next Gen automotive company." Shares of Renault Group were up over 6% in European trading session.Reference Link
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AZ | Hot Stocks08:19 EDT A2Z Smart Technologies announces grant of equity incentive to officers - A2Z Smart Technologies announces the grant of incentive stock options to acquire a total of 245,000 common shares of the Company at an exercise price of C$2.48 per share, with such Options to vest over three years. The options expire five years from the date of grant. Additionally, the Company granted 165,000 Restricted Share Units which vest immediately. The Options and RSUs were granted to officers of the Company.
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XELB | Hot Stocks08:17 EDT Xcel Brands regains compliance with Nasdaq minimum bid price rule - Xcel Brands received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market on June 28, 2023, notifying the Company that it had regained compliance with the minimum bid price requirement. Xcel Brands is now in compliance with all applicable listing standards and will continue to be listed and traded on the Nasdaq Capital Market.
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PYPD | Hot Stocks08:14 EDT PolyPid announces publication on potent antibacterial activity of D-PLEX100 - PolyPid announced a new publication highlighting the potent antibacterial activity of D-PLEX100 and its potential as an effective prophylactic drug against the most prevalent bacteria causing surgical site infections, including resistant strains. "This publication highlights the tremendous potential of D-PLEX100 in addressing the persistent challenge of surgical site infections, especially in an era of increased multidrug-resistant bacteria" stated Dikla Czaczkes Akselbrad, PolyPid's Chief Executive Officer. "The data showed the significant antibacterial activity of D-PLEX100 in pre-clinical and phase 2 clinical studies against a wide range of bacteria tested, including resistant ones. D-PLEX100's high anti-bacterial efficacy is attributed to its ability to support high local doxycycline concentration over a prolonged period in the surgical site and confirm its prophylactic potential against a wide range of antibiotic resistant bacteria, addressing a critical need in hospital care." The efficacy and safety of D-PLEX100 for the prevention of abdominal colorectal SSIs are currently being further evaluated in the SHIELD II Phase 3 clinical trial. Top-line results are expected in mid-2024.
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PECO | Hot Stocks08:14 EDT Phillips Edison appoints Parilee Edison Wang to board of directors - Phillips Edison & Company announced that its Board of Directors has appointed Parilee Edison Wang to serve as a director, effective immediately. Since February 2023, Wang has served as the Chief Product Officer of Alloy, a global identity risk decisioning platform that helps banks and fintech companies automate their decisions for onboarding, ongoing monitoring and credit underwriting.
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ZJYL | Hot Stocks08:14 EDT Jin Medical announces joint venture with Shanghai Sdoma Smart Technology - Jin Medical announced that the Company's variable interest entity, Changzhou Zhongjin Medical Equipment has entered into an investment agreement with Shanghai Sdoma Smart Technology to form a joint venture dedicated to the production and sales of a range of high-quality electric wheelchair and mobility scooter products. Pursuant to the Agreement, the JV will be established in Shanghai, with an estimated investment amount of up to RMB50 million in the next three years, 60% of which shall be contributed by JinMed and the remaining 40% shall be contributed by Sdoma. Erqi Wang, Chairman and CEO of the Company commented: "The formation of the JV is a significant milestone for both JinMed and Sdoma. As a mobility scooter product company with internet business attributes, Sdoma has developed mature internet marketing system, high marketing efficiency, and has quickly grown its market share and brand awareness in recent years, leading strong sales in Chinese market. JinMed has been committed to innovation and R&D in the field of assistive mobility scooter products for decades, and has achieved remarkable results in the upgrade of product quality and brand awareness in the industry over the years. The JV will further integrate JinMed's advantages in electric mobility products and Sdoma's strengths in online and offline channels and marketing, so that to enhance the market penetration of our electric mobility scooter products, and bring stable growth to our business of daily living aids products."
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ADUS | Hot Stocks08:13 EDT Addus HomeCare to acquire comprising Tennessee Quality Care, no terms - Addus HomeCare announced a definitive agreement to acquire the entities comprising Tennessee Quality Care, a provider of home health, hospice, and private duty nursing services. Tennessee Quality Care serves an average daily census of approximately 1,800 patients through 17 locations covering a service area of over 50 counties in Tennessee. Addus expects to close the transaction in the third quarter of 2023, following completion of customary closing conditions. Addus will fund the acquisition through a combination of cash on hand and the Company's revolving credit facility.
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WLDS | Hot Stocks08:13 EDT Wearable Devices completes development of bidirectional plugin for Unity - Wearable Devices announced the completion of the development of its new bidirectional plugin for Unity, a game engine supporting desktop, mobile, console, virtual reality and augmented reality platforms, establishing a live communication channel between the Unity game engine and the Mudra Inspire neural input wristband. The innovative plugin integrates touchless interaction and control into Unity supported platforms, expanding software development opportunities and enabling commercial companies and enterprises to create increasingly customized experiences for their users.
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ENPH | Hot Stocks08:12 EDT Enphase Energy, 4blue expand distribution partnership in Europe - Enphase Energy announced that it has expanded its relationship with 4blue, a full-service wholesaler of solar and battery systems, to distribute IQ Microinverters and IQ Batteries in the Netherlands, Germany, Belgium, and Luxembourg. "Our growing relationship with 4blue is a testament to a shared focus on quality, safety, and reliability," said Marco Krapels, vice president of international sales at Enphase Energy. "We are pleased to have 4blue's support in ensuring installers have access to industry-leading microinverter-based solar and battery systems in order to meet heightened demand for home energy management solutions in Europe."
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RNXT | Hot Stocks08:11 EDT RenovoRx: RenovoGem delays cancer progression in LAPC - RenovoRx presented new positive data on progression-free survival, PFS, from the pivotal Phase III open label TIGeR-PaC study of RenovoGem in locally advanced pancreatic cancer LAPC .The interim data was featured as a late-breaking oral presentation at the 2023 ESMO World Congress on Gastrointestinal Cancer, and presented by Michael J. Pishvaian, M.D, Johns Hopkins Medicine and Principal Investigator of the TIGeR-PaC study. The interim analysis demonstrated an eight-month median PFS benefit, 15 versus 7 months, in delaying the progression of cancer for patients receiving treatment with RenovoGem versus standard-of-care. PFS is the measure of the length of time from study randomization to either death or progression of disease. "Clinical practice has been waiting decades for a meaningful advancement in the standard of care for pancreatic cancer treatment, with less toxicity and better outcomes. The new data from the TIGeR-PaC interim results support that RenovoGem has the potential to more than double progression-free survival compared to systemic chemotherapy alone in this difficult-to-treat cancer, which demonstrates support for a new treatment standard," said Michael J. Pishvaian, M.D of the TIGeR-PaC study. "This data has the potential to be a paradigm-shifting treatment for patients at risk of cancer progression, including those who have limited well-tolerated options."
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MULN | Hot Stocks08:11 EDT Mullen Automotive announces sale of 22 EV cargo vans to Randy Marion Automotive - Mullen Automotive announces it has sold 22 EV cargo vans to the Randy Marion Automotive Group. The $308,000 is the company's first recorded revenue and is being recognized in the quarter ending June 30, 2023. All vehicles are in que to be shipped, with the first vehicles shipping today, June 29, 2023, from Mullen's Tunica, Mississippi, assembly plant to Randy Marion Automotive Group in North Carolina. Randy Marion is the authorized distributor of Mullen's commercial EVs in the U.S. The Company currently is in process with six Campus EV Pilot Programs across four different industry categories including aviation, pharmaceutical, public utility and universities. Further details on these programs are anticipated to be included in future announcements.
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SGMO VYGR | Hot Stocks08:11 EDT Sangamo, Voyager Therapeutics enter license agreement - Sangamo (SGMO) and Voyager Therapeutics (VYGR) announced the parties have entered into a definitive license agreement for a potential treatment of prion disease. Using its proprietary epigenetic regulation platform, Sangamo has developed zinc finger transcriptional regulators which it believes can specifically and potently block expression of the prion protein, the pathogenic driver of prion disease. Sangamo's ZF-TRs have been shown in animal models to significantly reduce expression of the prion protein in the brain, extend life span and limit formation of toxic prion aggregates. Under the agreement, Voyager has provided Sangamo with access to a capsid derived from Voyager's proprietary Tracer platform. This capsid has been shown to effectively cross the blood-brain barrier when delivered intravenously in animal models.
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JWEL | Hot Stocks08:11 EDT Jowell Global granted extension to meet Nasdaq minimum bid price requirement - Jowell Global has been granted an additional 180 calendar day period or until December 26, to regain compliance with the $1.00 minimum closing bid price requirement for continued listing on Nasdaq. Nasdaq's determination was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing with the exception of the bid price requirement, and the company's written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If compliance cannot be demonstrated by December 26, Staff will provide written notification that the company's securities will be delisted. At that time, the company may appeal the Staff's determination to a Nasdaq Hearings Panel.
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FVRR | Hot Stocks08:10 EDT Fiverr launches 'Certified' for freelance certification - Fiverr International announced the launch of Fiverr Certified. Fiverr Certified builds a unique freelance marketplace for each of its tech partners. Freelancers are then certified specifically by those companies, which include Amazon Ads, monday.com, and Stripe, empowering these well-known brands to better support their customers by connecting them with a trusted expert.
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VERX | Hot Stocks08:09 EDT Vertex announces certification for Vertex Indirect Tax Chain Flow Accelerator - Vertex announced that its Vertex Indirect Tax Chain Flow Accelerator has once again achieved SAP certification as integrated with RISE with SAP S/4HANA Cloud. The Chain Flow Accelerator reduces tax complexity by providing enhanced functionality for creation, configuration and visualization of transactions to improve value added tax determination and efficiency.
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AQMS | Hot Stocks08:09 EDT Aqua Metals completes Li AquaRefining recycling pilot - Aqua Metals announced the successful completion of its groundbreaking Li AquaRefining recycling pilot, transition to 24/5 operations and production of high-purity, saleable quantities of sustainably recycled battery materials. The Company completed the pilot facility commissioning with the recovery of both cobalt and manganese dioxide, completing the suite of valuable metals the Company reclaims from spent lithium batteries using its patented AquaRefining technology. The Company has completed the pilot - from finalized design through to operations - in roughly eight months' time, and with a transition to 24-hour operations, is scaling the pilot facility to a capacity of 75 tons per annum of processed black mass input. Based on the success of the pilot, the Company also continues the simultaneous phased development and commissioning of its first commercial-scale facility, which was initiated earlier this year and is well underway. Steve Cotton, President & CEO of Aqua Metals said, "We have secured more than 3,000 tons of black mass to fuel our operations, enough supply to reach commercial scale in 2024. Aqua Metals intends to capitalize on its first-mover advantage, driving US leadership in sustainable battery recycling, and building a robust domestic supply chain for the critical minerals that cleanly power an electrified future."
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MCOM | Hot Stocks08:09 EDT Micromobility.com to exit media business, terminate streaming contracts - Micromobility.com, or MCOM, announced a strategic realignment of its business focus by discontinuing its media business. As part of the rebranding initiative, MCOM has terminated its streaming contracts and will discontinue streaming the 3rd season 2023-2024 of League Serie B in Italy and internationally. This strategic decision is expected to yield substantial cost savings of over EUR 14M, bolstering the company's financial outlook. The company invested substantial resources to establish a streaming platform to provide content to its valued customers. However, in line with its new strategic direction and renewed emphasis on its core mobility sector, the company has decided to refine its business focus and reallocate its resources accordingly. As a result, MCOM has taken the difficult but necessary decision to conclude its streaming contracts for the third season 2023-2024 of League Serie B. By terminating the contracts, MCOM will achieve significant cost savings amounting to over EUR 14M, enabling the company to explore new opportunities and invest in strategic initiatives such as mergers and acquisitions.
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AKBA | Hot Stocks08:09 EDT Akebia reports Phase 4 results of Auryxia for dialysis patients - Akebia Therapeutics announced topline results from IMPACT, a Phase 4 collaborative study investigating the impact of Auryxia when used as the primary phosphate-lowering therapy, on the utilization of erythropoiesis-stimulating agent - ESA - and intravenous iron as well as on laboratory parameters indicative of phosphate and anemia management vs. the standard of care in adult patients with chronic kidney disease - CKD - on dialysis. Auryxia is approved for the control of serum phosphorus levels in adult patients with chronic kidney disease on dialysis and for the treatment of iron deficiency anemia in adult patients with chronic kidney disease not on dialysis. Co-primary endpoints were the difference in mean change from baseline to the efficacy evaluation period in monthly ESA and IV iron doses between groups. Treatment with Auryxia resulted in a statistically significant difference in mean monthly ESA use and a non-significant difference in mean monthly IV iron use. Serious adverse events occurred in 39% of patients receiving Auryxia and 59% in those receiving SOC.
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UNVR | Hot Stocks08:08 EDT Univar expands partnership with CFS - Univar Solutions announced that the company has become an authorized distributor for Camlin Fine Sciences Ltd.'s aroma ingredients in the United States and Canada. "We are thrilled to expand our partnership with CFS into the aroma ingredients space in the United States and Canada," said Kevin Hack, global vice president of global food ingredients for Univar Solutions. "Our new agreement will allow Univar Solutions to bring CFS' products to market in a region that has been historically short on supply. We are excited to now offer the adorr vanillin range to our mutual customers."
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TVGN LGST | Hot Stocks08:07 EDT Tevogen, Semper Paratus Acquisition enter merger agreement - Tevogen Bio and Semper Paratus Acquisition announced the execution of a merger agreement. Upon closing of the merger, the combined company will be named Tevogen Bio Holdings. Tevogen Holdings common stock and warrants are expected to be listed on the NYSE under the new ticker symbol "TVGN". Tevogen Bio is currently focused on developing its pipeline using its precision T cell platform, ExacTcell. ExacTcell is a product development toolkit that utilizes CD8+ Cytotoxic T Lymphocytes, also known as Killer T Cells, one of nature's most powerful weapons against cancer and infection. Unlike currently available genetically engineered T cell therapies, the ExacTcell approach is based on careful selection of naturally occurring T cells that recognize targets of interest from the body's native T cell receptor pool and is designed to provide enhanced safety. CD8+ CTLs in ExacTcell-based products also target multiple and distinct antigens to overcome potential mutational challenges. Tevogen Bio's lead product is TVGN 489, an allogeneic, genetically unmodified T cell therapy for the treatment of COVID-19 in highly vulnerable patient populations, such as the immune-compromised, elderly, and infirm, along with potential applications in Long COVID treatment and prevention. Tevogen Bio has completed a proof-of-concept clinical trial for TVGN 489, showing positive results, including no dose-limiting toxicities or significant adverse events related to TVGN 489 observed in any patient at any dose level. TVGN 489 has not been observed to be compromised by any COVID-19 variant to date. Upon completion of the Transaction, Tevogen Bio will be pursuing several late-stage clinical trials, expanding manufacturing capacity, and expediting the development of products targeting life-threatening viral infections, several viral-induced and non-viral-induced common cancers, and multiple sclerosis. Following the closing of the Transaction, Dr. Ryan Saadi, MD, MPH, will serve as the CEO and Chairman of the Board of Directors of Tevogen Holdings. The Board of Directors of Tevogen Holdings is also expected to include Professor Curtis Patton, Susan Podlogar, Victor Sordillo, Lindee Goh, Suren Ajjarapu, and Jeffrey Feike. The Transaction was unanimously approved by the boards of directors of all parties, at an expected combined pro forma enterprise value of approximately $1.2 billion. In connection with the Transaction, Semper Paratus will migrate out of the Cayman Islands, domesticate as a Delaware corporation, and rename itself Tevogen Bio Holdings Inc., and Tevogen Bio will merge with and into a newly formed wholly owned subsidiary of Tevogen Holdings. Additionally, the Transaction includes a contingent earnout in the form of additional equity in Tevogen Holdings payable to the Tevogen Bio stockholders and Semper Paratus' sponsor. The Transaction is expected to be completed in the fourth quarter of 2023, subject to, among other things, receipt of applicable governmental, regulatory, and third-party approvals, satisfaction of minimum closing net tangible asset and cash requirements, and the satisfaction or waiver of other customary closing conditions.
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MICS AMZN | Hot Stocks08:07 EDT Singing Machine announces new partnership with Vendo Commerce - The Singing Machine Company (MICS) announced it has engaged Vendo Commerce to help maximize sales opportunities through Amazon's (AMZN) online platform. Vendo is a full-service digital growth company specializing in e-commerce strategies for Amazon and Walmart.com and is part of the PLTFRM group of companies. "We are very pleased to launch our relationship with Vendo," commented Gary Atkinson, CEO of Singing Machine. "Vendo is a well-respected firm in the e-commerce space. We believe that they are world class experts in leveraging Amazon, Walmart and Target in particular, and this overlaps extremely well with our largest retail partnerships today. With Vendo's assistance, we believe we can expand our retail sales through Amazon to ultimately equal or even exceed our Walmart and Target sales levels."
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BTAI | Hot Stocks08:06 EDT BioXcel Therapeutics down 67% amid regulatory inquiry into BXCL501 development - In a regulatory 8-K filing, BioXcel Therapeutics states: "In December 2022, the FDA conducted an inspection of one of the clinical trial sites in the Phase 3 TRANQUILITY II clinical trial, where the principal investigator enrolled approximately 40% of the subjects participating in the trial. At the conclusion of this inspection, the FDA issued an FDA Form 483 identifying three inspectional observations. These observations related to the principal investigator's failure to adhere to the informed consent form approved by the Institutional Review Board for a limited number of subjects whose records the FDA reviewed, maintain adequate case histories for certain patients whose records the FDA reviewed, and adhere to the investigational plan in certain instances. For example, the FDA cited the principal investigator's delay in informing the sponsor's medical monitor or pharmacovigilance safety vendor of a serious adverse event for one of the subjects, which report was made to the Company's vendor outside of the 24 hour time period prescribed by the clinical trial protocol. The principal investigator for this clinical site responded to the FDA observations within the time period requested. The FDA inspection remains open, however, as the FDA has not issued an Establishment Inspection Report. In May 2023, it came to the Company's attention that this same principal investigator in the TRANQUILITY II clinical trial may have fabricated email correspondence purporting to demonstrate that the investigator timely submitted to the Company's pharmacovigilance safety vendor a report of an SAE from a different subject than the one cited in the FDA Form 483, and purporting to show that the vendor had confirmed receipt. Upon receipt of this information, the Company promptly initiated an investigation and recently received confirmation that the principal investigator fabricated the email correspondence related to the timing of the reporting of this SAE to the Company's pharmacovigilance vendor to make it appear as though this SAE had been timely reported to the pharmacovigilance vendor as required by the clinical trial protocol. The Company also confirmed that this SAE had been timely entered into the electronic data capture system, even though the SAE had not been separately reported to the Company's pharmacovigilance safety vendor within the 24 hour timeframe required under the protocol. In connection with this ongoing investigation, the Company was made aware that the fabricated email correspondence was provided to the FDA by the principal investigator's employer during the on-site inspection in December 2022. After unblinding of the data, the Company determined that the SAE that was the subject of this fabricated correspondence between the principal investigator and the Company's pharmacovigilance vendor occurred in a subject in the placebo arm. This principal investigator has not participated in any other clinical trial sponsored or conducted by the Company. Moreover, the study was designed such that trained study staff other than principal investigators were to conduct assessments of the primary efficacy measure. The Company is currently in the process of conducting an investigation into protocol adherence and data integrity at the principal investigator's trial site and is in the process of retaining an independent third party to audit the data collected at the site. The Company's ongoing investigation and/or the planned independent audit may uncover new findings regarding the integrity of the trial data from this principal investigator's site, the accuracy of safety or efficacy findings, or the usability of the data in connection with a marketing application. The Company plans to complete its investigation as soon as possible, although the Company can provide no assurance regarding the timing of the completion of its own investigation or the timing of the completion of the planned independent audit of the trial site. Further, the Company has notified the FDA of these findings and the steps it intends to take to validate the integrity of the data generated by this investigator for the TRANQUILITY II trial. The timing of the Company's marketing application and prospects for regulatory approval of BXCL501 for the acute treatment of agitation associated with dementia in patients with probable Alzheimer's disease may be adversely impacted by these developments. For example, even if the Company's investigation and the independent audit conclude that data from the TRANQUILITY II trial have not been affected or compromised by the principal investigator's actions or other deficiencies at the trial site, the FDA may not accept or agree with the Company's conclusions or analyses, or may interpret or weigh their importance differently. Further, if the Company or the FDA determines that there are issues with data integrity and/or compliance with good clinical practice requirements at the trial site, the Company may be unable to use some or all of the subject data generated at this clinical site to support a marketing application. If all or a substantial portion of such data were discarded, the TRANQUILITY II trial may no longer be adequately powered for statistical significance and the Company may need to conduct a new clinical trial. If the Company conducts a new Phase 3 trial, such trial may have different safety or efficacy results from the topline data the Company is announcing today. Topline data from the TRANQUILITY II trial, including results from subjects at this principal investigator's site, may not be predictive of the results in any new trial. Further, any investigation, disqualification or debarment of, or proceeding or action against the principal investigator, or any investigation, proceeding or action against the Company, could further delay development and approval of BXCL501 for this indication, and otherwise have a material adverse effect on the Company, its financial condition, results of operations and prospects." Shares of BioXcel Therapeutics are down 67% in pre-market trading following the disclosure that accompanied topline results for BXCL501 in acute treatment of Alzheimer's Disease-related Agitation.
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OR | Hot Stocks08:06 EDT Osisko Gold announces Gibraltar silver stream amendments - Osisko Gold Royalties announces that it has completed an amendment to its 75% silver stream with respect to the Gibraltar copper mine, located in British Columbia, Canada, which is operated by a wholly-owned subsidiary of Taseko Mines Limited. Sandeep Singh, President and CEO of Osisko commented: "We are pleased to increase our silver exposure on the long-life Gibraltar mine and enhance our partnership with Taseko. Our shareholders will benefit from the increased silver stream, coupled with the approximately one-and-a-half million additional ounces of silver to be delivered to Osisko due to the extended threshold."
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OPY | Hot Stocks08:06 EDT Oppenheimer Holdings announces preliminary results from Dutch acution - Oppenheimer Holdings announced preliminary results of its modified "Dutch auction" tender offer which expired at 11:59 p.m., New York City time, on Wednesday, June 28, 2023. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 437,183 shares of the company's Class A non-voting common stock, par value $0.001 per share, were properly tendered and not properly withdrawn at or below a purchase price of $40.00 per Share, including 8,143 Shares that were tendered by notice of guaranteed delivery. In accordance with the terms and conditions of the tender offer and based on the preliminary count by the Depositary, the company expects to purchase 437,183 Shares through the tender offer at a price of $40.00 per Share, for an aggregate cost of approximately $17.49M, excluding fees and expenses relating to the tender offer. As the company expects to accept for purchase all of the Shares which were properly tendered and not properly withdrawn at a price at or below $40.00 there is no proration factor. The total of 437,183 Shares that the company expects to purchase represents approximately 4.0% of the company's currently outstanding Shares as of June 28, 2023.
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CLRD | Hot Stocks08:05 EDT Clearday continues strategic pivot, terminates leases of three care facilities - Clearday continues their strategic pivot to asset light solutions by terminating leases of three residential care facilities. Shedding three facilities and terminating the associated leases is expected to remove more than $27M in liabilities, subject to certain adjustments. These facilities have been a drain on cash flow. These cash flows can now be utilized to make further investments in AI empowered robotic caregiver services. CEO and Founder, Jim Walesa: "We are excited to move away from the high fixed cost, sub-optimal approach to the care crisis and continue our embrace of the future of longevity care: AI powered robotic technology." Clearday believes success in longevity care and solving the care crisis is not about owning and operating the physical facilities, but is providing the technological solutions to extend, promote and provide a richer client life through meaningful days.
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XRTX | Hot Stocks08:05 EDT Xortx Therapeutics announces results of annual, special meeting - XORTX Therapeutics announced the results of its annual and special meeting of shareholders held Wednesday, June 28, 2023. A total of 7,482,990 common shares of the Company were represented at the Meeting, representing approximately 41.6% of the total number of common shares of the Company issued and outstanding. All matters presented for approval at the Meeting were duly authorized and approved including election of all six management nominees to the board of directors of the Company, the appointment of Smythe LLP as auditors of the Company for the ensuing year and authorization of the directors to fix their remuneration, and re-approval of the stock option plan.
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CGC | Hot Stocks08:05 EDT Canopy Growth completes sale of Modesto, CA, facility - Canopy Growth has completed the sale of its facility in Modesto, CA. With the completion of this transaction, Canopy Growth has now sold five facilities for proceeds of C$81M since April 1, and anticipates generating up to a total of C$150M from facility divestitures by September 30. These divestitures are aligned to the organizational transformation as announced during the company's prior fiscal year and provide improved liquidity, while also supporting the Company's path to profitability through the corresponding operational expenditure reductions from no longer operating these sites.
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EIGR | Hot Stocks08:03 EDT Eiger BioPharmaceuticals to focus on avexitide, names David Apelian as CEO - Eiger BioPharmaceuticals announced that following an extensive portfolio prioritization review, the company will focus its development efforts on advancing avexitide in hyperinsulinemic hypoglycemia indications. The company will continue to commercialize Zokinvy for the treatment of Hutchinson-Gilford progeria syndrome and processing-deficient progeroid laminopathies. In addition, Eiger is evaluating strategic partnering options for its virology assets, lonafarnib and peginterferon lambda. A 25% reduction in workforce, a reduction in out-of-pocket spending related to its hepatitis delta development program and its existing term loan are expected to extend the company's cash runway into the fourth quarter of 2024. The company also announced that it has appointed David Apelian, MD, PhD, MBA, who has served as interim CEO since December 2022, as the company's next CEO.
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CING | Hot Stocks08:03 EDT Cingulate manufactures clinical supply, to initiate Phase 3 trials of CTx-1301 - Cingulate announced it has successfully manufactured the clinical supply for upcoming pivotal Phase 3 trials of its lead candidate, CTx-1301, for the treatment of attention deficit/hyperactivity disorder. All doses of CTx-1301 are now available for both pivotal Phase 3 pediatric and adolescent clinical trials, with the fixed-dose study scheduled to begin the week of July 24. "We have effectively collaborated with our manufacturing partner, Societal CDMO, to successfully manufacture all doses required to initiate our pivotal Phase 3 pediatric and adolescent clinical program, and we look forward to the initiation of the fixed-dose study," said Laurie A. Myers, PhD, Chief Operating Officer, Cingulate. "This accomplishment ensures that we remain firmly on track, adhering to our previously announced timelines."
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NAVB PRPH | Hot Stocks08:03 EDT Navidea rejects ProPhase Labs offer to acquire certain Navidea assets - ProPhase Labs (PRPH) announced that it recently made an unsolicited offer to acquire certain assets from NYSE American listed Navidea Biopharmaceuticals (NAVB) and that the offer was rejected by Navidea. On June 8, 2023, ProPhase submitted to Navidea a written, non-binding offer to purchase a portion of the assets of Navidea. Prophase offered a purchase price of either: $7 million, if paid in cash, or alternatively, $9.1 million, if paid in shares of common stock, par value $0.0005 per share, of ProPhase. ProPhase advised Navidea that it would be amenable to a purchase price paid in a combination of cash and ProPhase Stock. The cash offer was equivalent to over two times the then-current market cap of Navidea or almost three times the current market capitalization of Navidea in ProPhase Stock. Furthermore, the offer would have left Navidea with other assets of Navidea such as the current and future milestone payments, the majority of the therapeutic assets, the cardiovascular products, and any territories Lymphoseek assets are already committed to. On June 16, 2023, Navidea informed ProPhase that the board of directors of Navidea flatly rejected the offer. Navidea did not make a counteroffer and did not seek to engage in any further discussions with Prophase. ProPhase made this offer because ProPhase believes that it has the infrastructure, platform, distribution and capital needed to successfully develop the targeted Navidea assets. ProPhase included the opportunity for Navidea to take some or all of the transaction value in ProPhase Stock, so that Navidea could share in the upside from the development of the Navidea assets by ProPhase, as well as participate in the upside from ProPhase's already-successful lines of business.
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FBIO | Hot Stocks08:02 EDT Fortress Biotech's Urica announces data from Phase 1 trial on dotinurad - Urica Therapeutics, a Fortress Biotech subsidiary company, announced topline data from the Phase 1 clinical trial evaluating dotinurad in healthy volunteers in the United States. The randomized, placebo-controlled Phase 1 clinical trial evaluated the safety, tolerability, pharmacokinetics and pharmacodynamics of multiple doses of dotinurad in U.S. healthy subjects. Dotinurad was shown to be safe and well tolerated with no severe adverse events observed at any dose level. No drug-related adverse events were observed at doses of 1mg, 2mg, and 4mg, which are all approved and marketed doses in Japan. The PK profile in U.S. subjects was comparable to that of Japanese subjects with all tested doses for time to peak serum drug concentration, peak serum drug concentration and drug serum half-life. Pharmacodynamic data from the Phase 1 trial were also comparable to the Japanese data where over 1,000 subjects were exposed to dotinurad, including rapid and significant serum uric acid reduction. Up to 90% of sUA reduction was observed within four days since the start of treatment. Increase of urine uric acid excretion was also observed following dotinurad treatment, which confirms its mechanism of action.
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LGST | Hot Stocks08:00 EDT Semper Paratus Acquisition Corp trading halted, news pending
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CNC | Hot Stocks07:39 EDT Idaho Behavioral Health Plan contract awarded to Magellan Healthcare - On June 27, the Idaho Department of Health & Welfare announced that the contracting stage of the Idaho Behavioral Health Plan, or IBHP, has concluded, and the contract has been awarded to Magellan Healthcare. The initial four-year term of the contract is worth $1.2B. "As the Department of Health and Welfare (DHW) moves closer to implementing the new plan, participants and providers will receive communications from DHW and Magellan Healthcare, Inc. about the new IBHP. DHW will also share information about the transition with all interested Idahoans as information becomes available. This new contract encompasses critical initiatives intended to transform the state's behavioral health service delivery system. The new IBHP is the framework for how behavioral health services for conditions such as mental health and substance use disorders are administered in Idaho. The new IBHP contract is structured differently than the current plan as it integrates Medicaid inpatient, residential, and outpatient services as well as other state and federal funding for non-Medicaid beneficiaries and services. The new IBHP will be a single plan administering medically necessary behavioral health services on behalf of the Department of Health and Welfare's Division of Medicaid, Division of Behavioral Health, and Idaho Department of Juvenile Corrections," the department stated. Reference Link
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NEXCF | Hot Stocks07:37 EDT Nextech3D.ai announces new 3D modeling deals - Nextech3D.AI announced that it has surpassed over 37,700 3D models delivered to its customers in various e-commerce industries and sees significant growth potential ahead as hundreds of millions of products go 3D as merchants are pivoting from 2D flat photos to 3D experiences in the e-commerce marketplace.
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DFLI | Hot Stocks07:36 EDT Dragonfly Energy's Battle Born Batteries standard on select ATC models - Dragonfly Energy announced that the Company's Battle Born Batteries brand of lithium-ion batteries will be standard equipment on two ATC models; the Pl 700 - Travel Trailer Toy Hauler and the Pl 700 - Fifth Wheel Toy Hauler starting with 2024 select models as early as July 2023, and as an optional upgrade for the Pl 350 - Ultra Lite Travel Trailer Toy Hauler. "Continuing to find and work with customers that align with Dragonfly Energy's core values remains a key focus for our business as we look for increased opportunities to grow our brand," said Dr. Denis Phares, CEO of Dragonfly Energy. "With several of ATC's dealers already carrying Battle Born Batteries, as well as the combined focus on delivering a high-quality customer experience and the desire to support how people are adventuring, it just made sense to further develop our partnership with ATC."
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SOND | Hot Stocks07:35 EDT Sonder Holdingsto launch four new properties across Florida - Sonder Holdings is launching four new properties across Florida. This will bring the company's footprint in the state to 930 live units across hotel, resort and multi-unit serviced apartment properties, hosting a diverse group of travelers including leisure, business, and conference guests..."We're seeking further expansion opportunities in Florida, including in Tampa, St. Pete, Sarasota, Clearwater Beach, Naples, Jacksonville, the Florida Keys, and the Palm Beaches. We're particularly interested in existing hotel takeovers and large multifamily developments with construction already underway. We offer a variety of deal structures to meet the needs of both owners and lenders in the current economic climate," said Peter Debs, Senior Director of Real Estate at Sonder.
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TRSSF | Hot Stocks07:34 EDT TerrAscend to commence trading on Toronto Stock Exchange - TerrAscend announced that its common shares will commence trading on the Toronto Stock Exchange on July 4, 2023 under the new ticker symbol "TSND". No action is required by shareholders in order to continue trading their Common Shares as a result of the TSX Listing or the change in ticker symbol. In connection with the TSX Listing, the Common Shares will be delisted from the Canadian Securities Exchange at the close of markets on June 30, 2023. The Canadian stock markets are closed for Canada Day on July 3, 2023.
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SAWLF | Hot Stocks07:33 EDT Mattr invests in Connection Technologies segment producion capabilities - Shawcor Ltd., dba Mattr Infratech, will expand and enhance its Connection Technologies segment production capabilities in the US and Canada, with commitments for two new operating facilities which, in combination, will replace its existing Greater Toronto Area manufacturing site that was sold and leased-back in June of 2022. Capital expenditures for these operating facilities are expected to represent, in the aggregate, approximately $35 million across 2023 and 2024. The 2023 portion of these organic growth investments form a part of the Company's previously communicated capital expenditure guidance of $160-$180 million for the current year. These facilities will expand the Company's capability to deliver high-quality heat and cold shrink tubing and highly specified custom wire and cable products to the North American market, more specifically: Its Shawflex business will be relocating to a larger, more efficient facility in Vaughan, Ontario. This new site will also house Kanata Electronic Services Ltd,, which was recently acquired and is being integrated into the Shawflex business. The Shawflex business manufactures highly specified custom wire and cable products and assemblies for complex applications and extreme environments, and; Its DSG-Canusa business will be relocating its North American manufacturing footprint from the GTA to a larger, more efficient facility in Fairfield, Ohio, moving closer to its primary vendors and the majority of its customers. This new site will also house the business's North American distribution hub, which will relocate from Loveland, Ohio. The DSG-Canusa business manufactures high-quality heat & cold shrink tubing products and accessories for automotive, communications, electrical utility, electronic and energy markets. Equipment will be relocated from the Company's current GTA site to the new facilities in a phased manner, and both facilities are expected to be operational in 2025. They are expected to approach normalized initial levels of production during 2026. The Company believes that, in combination, these facilities with initial equipment installations, have the potential to enable over $50 million of incremental annual revenue generating capacity as they approach efficient utilization levels.
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ENDP | Hot Stocks07:31 EDT Endo announces approval of XCOPRI in Canada - Endo International announced that Paladin Labs, an Endo operating company, received Health Canada's approval of XCOPRI for adjunctive therapy in the management of partial-onset seizures in adults with epilepsy who are not satisfactorily controlled with conventional therapy. Paladin Labs expects to launch XCOPRI in December 2023.
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FLYLF | Hot Stocks07:20 EDT Flyht Aerospace receives $1.4M purchase order from OEM partner - FLYHT Aerospace Solutions received a purchase order valued at $1.4M for Iridium modems and license fees from a long-time OEM partner. This order builds upon the relationship previously discussed in press releases dated July 15, 2014, August 1, 2019, February 18, 2020, July 6, 2021, October 6, 2021 and May 4, 2022. Under the terms of the existing agreement, the OEM customer will be licensing FLYHT's technology and delivering the AFIRS 228S system to their European airframer customer for three certified aircraft platform types. The products are scheduled for delivery throughout the remainder of 2023.
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IDR | Hot Stocks07:19 EDT Idaho Strategic announces expansion of Roberts rare earth elements project - Idaho Strategic Resources announced the expansion of the Company's Roberts project with the addition of the Phyllis Gross and Lower Lee Buck claim groups; and the subsequent rebranding of this landholding as the Mineral Hill REE project. Given the increased size of these additional claim groups, the prior reference to "Roberts" becomes inadequate when referring to our expansive landholdings. The addition of the Phyllis Gross land package marks the first time, in 75 years, this land has changed hands from its original claimant. All geologic maps show the Phyllis Gross area as blank with no mapping ever being completed. The Lower Lee Buck group also represents a vast and underexplored prospect adjacent to the north of the Phyllis Gross claims. The addition of the Phyllis Gross and the Lower Lee Buck claim groups consolidates a large contiguous landholding which now forms IDR's "Mineral Hill REE" project. These additional claims cover 700 acres and bring the Mineral Hill REE project area to 2,100 total acres. The Phyllis Gross claim group has added a level of anticipation given its location as the central hub to the carbonatite activity in the district, and its lack of modern-day exploration. The geology mapped in adjacent areas suggest it as inhabiting a dynamic structural hub to the carbonatites of the Mineral Hill district and since there is no institutional geologic data to build from, this area will need to be examined in detail, with boots on the ground.
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PRSO | Hot Stocks07:17 EDT Peraso, Tachyon announce production of PtP, PtMP solutions - Peraso and Tachyon Networks together have announced production readiness of the TNA-30X product family from Tachyon, new Point-to-Point and Point-to-Multipoint solutions utilizing Peraso's mmWave technology for 60GHz unlicensed Fixed Wireless Access networks. Peraso's 60GHz solutions focus on accelerating time to market and reducing the cost of designing a module that must be manufactured in high volume, while providing unmatched quality and reliability. The Company's antenna modules offer low latency, high reliability, multi-gigabit throughput and can be configured to support Peraso's unique capabilities that enable PtP and PtMP FWA applications.
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DHC | Hot Stocks07:17 EDT Flat Footed sends letter to Diversified Healthcare Trust shareholders - Flat Footed , a shareholder of Diversified Healthcare Trust and the owner of approximately 9.8% of the outstanding common shares of the Company, announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and sent a letter to shareholders in connection with its opposition to the Company's proposed merger with Office Properties Income Trust (OPI).
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NEO | Hot Stocks07:16 EDT NeoGenomics appoints Elizabeth Floegel, Neil Gunn, Tony Zook to board - NeoGenomics announced the appointment of Elizabeth Floegel, Neil Gunn, and Tony Zook to its Board of Directors. The Board has elected three new independent board members to join the board effective June 29, 2023. Elizabeth Floegel, Chief Information & Digital Officer of Numotion, a complex rehabilitation technology provider, will be a member of the Audit & Finance and Compliance Committees. Neil Gunn, former CEO of IDbyDNA, a developer of metagenomic technology for infectious disease testing and pathogen surveillance which was acquired by Illumina in 2022, will be a member of the Culture & Compensation and Nominating and Corporate Governance Committees. Tony Zook, former CEO of Innocoll Pharmaceuticals, a pharmaceutical manufacturing company focused on postsurgical pain management, will be a member of the Audit & Finance and Culture & Compensation Committees.
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LASE | Hot Stocks07:14 EDT Laser Photonics introduces DefenseTech line of products - Laser Photonics introduced its DefenseTech line of products to tackle the MRO needs of the United States military. The DefenseTech product line features laser cleaning and laser marking technology specially designed to meet the needs of the defense industry. The product line introduces the Missile Laser Rust Inhibitor LPC-MLRI-200 and LPC-MLRI-2000, which serve as a laser cleaning solution to the corrosion issues that many missile systems and U.S. Army Aviation and Missile Command systems face by providing a Department of Defense compliant method of corrosion prevention and removal.The new product line will also feature the MarkStar LPC-MS, which was already available prior to this launch. The LPC-MS provides a laser marking and engraving solution, which is a form of marking that has been positioned as an essential part of military processes due to the DoD's implemented MIL-STD-130 standard, which requires that Direct Parts Marking, Unique Identifiers and deep engraving be utilized, all of which can be done by the reliable and efficient MarkStar LPC-MS.
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RLYB | Hot Stocks07:13 EDT Rallybio co-founder Stephen Uden appointed CEO, effective August 1 - Rallybio announced that Stephen Uden, M.D., Rallybio's President, Chief Operating Officer and Co-Founder has been appointed to the role of Chief Executive Officer, effective August 1. Dr. Uden will remain President and will also be appointed to Rallybio's Board of Directors. The Company does not expect to hire a replacement for Dr. Uden's current role. He will succeed Martin Mackay, Ph.D., Chief Executive Officer, Chairman of the Board, and Co-Founder, who will assume the role of Executive Chairman. As Executive Chairman, Dr. Mackay will remain a full-time employee and continue to be actively involved with the Company, with a particular focus on company strategy, investor relations and related activities.
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PWP CS | Hot Stocks07:12 EDT Perella Weinberg Partners announces Doolin has joined the firm as a Partner - Perella Weinberg Partners (PWP) announced that Christopher Doolin has joined the Firm as a Partner in the Advisory Business. Based in Chicago, Doolin will work in the Firm's Industrials Group and provide strategic and financial advice to clients globally across the Business and Consumer Services sectors. Prior to joining PWP, Doolin was at Credit Suisse (CS), where he started his career and held various senior positions over the years. He most recently served as Managing Director and Global Head of Services.
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MOB | Hot Stocks07:12 EDT Mobilicom launches MCU-70 SDR product - Mobilicom announced the launch of its latest product, the MCU-70, the latest in its MESH Networking Cybersecure Software Defined Radio Series delivering high-performance wireless communications. With its relatively small size and lightweight design, MCU-70 delivers superior performance for mid-sized and long-range unmanned aerial vehicles where form-factor-to-capability performance is critical. Designed for durability in rugged outdoor environments, MCU-70's communications range of up to 100 miles/150km equips drones with the communications needed for new missions and applications, expanding Mobilicom's addressable markets for both commercial and military applications.
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GTBIF | Hot Stocks07:11 EDT RISE Dispensaries to launch adult-use sales at four Maryland locations - RISE Dispensaries will commence adult-use sales at its four Maryland dispensaries, beginning Saturday, July 1. RISE Hagerstown, RISE Joppa, RISE Silver Spring and RISE Bethesda will each celebrate the launch of adult-use sales with a ribbon-cutting ceremony at 7:15 a.m. ET ahead of doors opening at 8 a.m. ET, plus music and treats at select locations. Each dispensary will donate a portion of profits from the first day of adult-use sales to a local nonprofit organization, including Mission of Love Charities, Explore MD Cannabis and I Support The Girls. Medical patients and adult-use consumers can explore Green Thumb's diverse collection of cannabis products, including RYTHM premium flower, Dogwalkers pre-rolls, Beboe socially-dosed vapes and incredibles gummies. At each step of the retail experience, knowledgeable RISE Personal Care Specialists are available to guide consumers through the process.
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PSTV | Hot Stocks07:11 EDT Plus Therapeutics reports interim updates from two ReSPECT trials - Plus Therapeutics reported positive interim updates from the ReSPECT-GBM and ReSPECT-LM clinical studies evaluating the Company's lead radiotherapeutic, rhenium obisbemeda, for the treatment of recurrent glioblastoma and leptomeningeal metastases at the Society of Nuclear Medicine & Molecular Imaging, SNMMI, Annual Meeting, which took place June 24-27, 2023 in Chicago, Illinois. An oral presentation titled, Safety and Feasibility Results from a Phase 1/2 Clinical Trial of 186RNL Obisbemeda in Recurrent Glioma: The ReSPECT-GBM Trial [P988], brief highlights include: Data from 21 patients in the Phase 1 trial used to support the recommended Phase 2 trial dose for patients with tumor volumes less than or equal to20 mL was presented. A single dose of rhenium obisbemeda was generally safe and well-tolerated, with no dose-limiting toxicities and minimal systemic radiation exposure. The data demonstrates efficacy signals in a prognostically unfavorable patient population. The median overall survival in all 21 patients was 11 months or a 38% increase in OS versus a median OS of approximately 8 months for standard of care in rGBM. Median OS in patients receiving greater than100 Gy of absorbed radiation dose was 76 weeks versus 22 weeks for those receiving less than100 Gy. Increased absorbed radiation dose and percent tumor volume treated correlates with improvement in overall survival, specifically: For each 100 Gy increase of Total Dose in Distribution Volume, the risk of death decreases by 45.6%. For each 10% increase in the Ratio of Treated to Total Tumor Volume, the risk of death decreases by 66.9%. A poster presentation titled, Preliminary Clinical Data in The Phase 1/2a Dose Escalation Trial of 186RNL Obisbemeda in Leptomeningeal Metastases: The ReSPECT-LM Trial, includes data that showed: Interim results from 10 patients in the Phase 1 trial show a single treatment with rhenium obisbemeda decreased cerebrospinal fluid tumor cell count and was well-tolerated in patients with LM. Rhenium obisbemeda doses administered through an intraventricular catheter showed prompt, complete and durable distribution throughout the CSF through Day 7. A single rhenium obisbemeda administered dose between 6.6 mCi and 26.4 mCi achieved absorbed doses of up to 88.98 Gy to the ventricles and cranial subarachnoid space. No dose limiting toxicities were observed and safety observations were generally minor and resolved. Phase 1/Part B, for continued dose escalation, will open following review by the U.S. Food and Drug Administration, and repeated dosing will be explored. An expansion in Cohort 3 is currently enrolling eligible patients.
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VRNOF | Hot Stocks07:10 EDT Verano Holdings opens MUV Venice dispensary location - Verano Holdings announced the opening of MUV Venice on Friday, June 30, the Company's 69th Florida dispensary and 130th retail outlet nationwide. MUV Venice is located at 4369 South Tamiami Trail, and will be open Monday through Saturday from 9 a.m. to 7 p.m. and Sunday from 11 a.m. to 5 p.m., local time.
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CLMB | Hot Stocks07:08 EDT Climb Channel Solutions partners with AppOmni - Climb Channel Solutions, a wholly owned subsidiary of Climb Global Solutions, has announced a new partnership with SaaS security provider, AppOmni. With AppOmni, Climb now offers universal security across all SaaS applications with centralized visibility and data access management. "Climb is always on the lookout for top notch security solutions for our resellers," says Dale Foster, CEO at Climb Channel Solutions. "Adding AppOmni to our transacting vendors list not only provides cutting-edge security solutions for our valued resellers, but this collaboration opens doors for our resellers to tap into the growing demand for compliance, robust security, and visibility sought by IT and security teams."
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GNLX | Hot Stocks07:08 EDT Genelux, TVAX granted patent on T cell therapy/oncolytic viral cancer treatment - Genelux Corporation and TVAX Biomedical announced that the United States Patent and Trademark Office granted a patent claiming methods of combining vaccine-enhanced adoptive T cell therapy with oncolytic virus adjunct therapy. The patent has been exclusively licensed to V2ACT Therapeutics, LLC, a joint venture between Genelux and TVAX that was established for the purpose of developing and testing V2ACT Immunotherapy. The patent expiry, prior to any patent term extension, will be in 2036 and will add substantial intellectual property protection for V2ACT Immunotherapy. The rationale for V2ACT Immunotherapy stems from compelling scientific evidence that vaccination generates an immune response which increases the number of neoantigen-specific T cells in the body and that Olvi-Vec induces an acute inflammatory response that increases cancer tissue receptivity for the clinical effects of adoptively transferred neoantigen-specific effector T cells. This generates compelling support for the view that V2ACT Immunotherapy may safely achieve superior efficacies against a wide range of cancers.
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WBX COST | Hot Stocks07:08 EDT Wallbox says Pulsar Plus EV charger to be available at Costco - Wallbox (WBX) announced that Pulsar Plus EV charger, will be available at Costco (COST) stores across the U.S. and through Costco.com starting in July, marking Costco's most extensive EV charging deployment to date. "We continue to see exceptional demand for Pulsar Plus across the U.S. because of its compact form factor, energy management features, and easy installation," said Brett Graessle, VP of Partnerships and Business Development for Wallbox. "Partnering with one of the most popular membership warehouse clubs, like Costco, enables us to expand our distribution footprint and connect with a broader consumer audience. We're excited to bring Pulsar Plus to millions of Costco members across the entire U.S. "
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CRVS | Hot Stocks07:07 EDT Corvus Pharmaceuticals presents new ciforadenant data at JCA-AACR conference - Corvus Pharmaceuticals announced new preclinical data for ciforadenant, the Company's adenosine 2A receptor inhibitor, highlighting its mechanism of action and synergy with immune checkpoint inhibitors via combination with anti-CTLA-4 and anti-PD-1 therapies. The data is being presented in a poster at the 2nd Japanese Cancer Association and American Association for Cancer Research, JCA-AACR, Precision Cancer Medicine International Conference, which is taking place June 28-30, 2023 in Kyoto, Japan. Ciforadenant Data Presented at JCA-AACR Conference: The new ciforadenant preclinical data was presented by Dan Li, Ph.D., Senior Scientist at Corvus, in a poster session at the JCA-AACR conference. The poster presentation highlights preclinical data supporting the synergy between ciforadenant and immune checkpoint blockade, leading to a proinflammatory response: Depletion of myeloid cells abolished the synergy of ciforadenant and ICB in a murine melanoma model. The combination of ciforadenant with ICB upregulated the genes involved in the IL-12/STAT4 signaling axis, which leads to the development of CXCR3+ IFNgamma-producing Th1 helper cells. Ciforadenant treatment increased production of chemokine CXCL10, a ligand for recruitment of CXCR3+ Th1 helper cells into the tumor. Ciforadenant modulated antitumor responses by turning the tumor microenvironment into the proinflammatory state. The combination of ciforadenant with ICB promoted the production of several proinflammatory cytokines such as IL-6, TNFa, and IFNg.
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DNA | Hot Stocks07:06 EDT Ginkgo Bioworks' Enzyme Services selected by Israel's Ambrosia Bio - Ginkgo Bioworks and Ambrosia Bio, an Israeli foodtech company developing novel bioprocesses for the global sugar replacement industry, announced that Ambrosia Bio will leverage Ginkgo Enzyme Services, including its proprietary chassis organisms, to develop an expression strain for the scalable production of the Ambrosia Bio proprietary enzymes used for the conversion of feedstock into allulose. Allulose is an FDA-approved rare sugar that is found in figs, raisins, wheat, maple syrup, and molasses but occurs naturally only in small amounts. Unlike other currently available sweeteners, allulose has a low caloric value - typically under 10% compared to equivalent amounts of sucrose. Over the past three years of stealth mode development, Ambrosia Bio has developed a bioprocess to convert lower-margin feedstocks into rare sugars and specialized ingredients such as allulose. To further optimize its process, Ambrosia Bio will leverage Ginkgo Enzyme Services, an end-to-end service powered by throughput screening and machine learning-guided protein design, to aid its goal of producing an optimized version of its proprietary enzyme in a productive expression strain.
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SCTL | Hot Stocks07:05 EDT Societal CDMO signs MSA with CivicaScript to provide CDMO services - Societal CDMO announced the signing of a master service agreement, MSA, with CivicaScript. This agreement covers an initial project supporting a generic drug candidate that is moving through development and registration efforts, with the potential to expand to include support of additional CivicaScript programs. Under terms of the agreement, Societal CDMO will execute a range of services including analytic method and tech transfer, formulation development, process development, and non-GMP batch manufacturing. "The work that we will conduct under this MSA with CivicaScript provides an excellent opportunity for Societal CDMO to showcase our team's ability to support the full range of activities required for the development and registration of a generic medicine. We are excited to team up with CivicaScript on this project as we share the company's commitment to making an impact on the lives of patients. Their dedication to making quality generic medicines affordable and available to everyone fits well with our mission of bringing science to society," said David Enloe, chief executive officer of Societal CDMO.
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GNTA | Hot Stocks07:05 EDT Genenta Science receives Orphan Drug Designation from EC for Temferon - Genenta Science announced that the European Commission has granted Orphan Drug Designation to Temferon for the treatment of glioma. Glioblastoma Multiforme is the first clinical indication of Temferon. GBM is the most common malignant primary brain tumor and the most aggressive diffuse glioma, with unmethylated MGMT promoter status identified in approximately 60% of the GBM population. Temferon is Genenta's product at the most advanced stage of development and consists of the patient's own stem progenitor cells modified with Genenta's platform to express interferon alpha within solid tumors. IFNa is a well-known immunomodulatory protein that has been used in the clinic for decades for the treatment of a variety of cancers, but with limited current use because of the systemic toxicity. Genenta's platform is designed to avoid systemic toxicity and selectively deliver therapeutic activity within the solid tumor. From pre-clinical experiments, it has been observed that Temferon breaks tumor-induced tolerance, thus allowing the immune system to recognize the tumor and mount a durable immune response.
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ALDX | Hot Stocks07:05 EDT Aldeyra notes statistical improvement in retinal function in ADX-2191 trial - Aldeyra announced top-line results from the Phase 2 clinical trial of intravitreal ADX-2191, an investigational drug candidate, in patients with retinitis pigmentosa. Relative to baseline, the clinical trial demonstrated statistically significant improvement in retinal function across a number of different physiological and psychophysical assessments. Based on preclinical evidence suggesting that methotrexate may facilitate the clearance of mutated rhodopsin, a protein critical for visual cycle function, an open-label, single-center Phase 2 clinical trial of ADX-2191 was performed in eight retinitis pigmentosa patients with rhodopsin misfolding mutations. Over three months of treatment with ADX-2191, four patients received monthly injections and four patients received twice-monthly injections. The primary endpoint of the clinical trial was safety. Secondary endpoints included change from baseline in visual acuity; retinal function, as assessed by macular and dark-adapted chromatic perimetry and electroretinography; and retinal morphology, as assessed by optical coherence tomography. Visual acuity, perimetry, and morphology assessments were performed monthly for four months from initiation of therapy. Electroretinography was performed at baseline and at 90 days from initiation of therapy. All enrolled patients completed the trial per protocol. Relative to baseline, across all patients, statistical significance was achieved for improvement in best corrected visual acuity (Pless than0.0001), low-light visual acuity, time to electroretinographic response to light, macular sensitivity to light and dark-adapted peripheral sensitivity to light. ADX-2191 was well tolerated, and no safety concerns were identified. No treatment-related adverse events associated with retinal morphology were observed. No serious adverse events were reported, and no patients discontinued due to adverse events.
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MQ | Hot Stocks07:05 EDT Marqeta appoints Karna Crawford as Chief Marketing Officer - Marqeta announced that it had appointed Karna Crawford, a marketing executive who has held leadership roles at J.P. Morgan Chase, Verizon and Ford, as it's Chief Marketing Officer. Crawford will be a crucial member of Marqeta's senior leadership team driving the company's global marketing efforts, including marketing and brand strategy, demand generation, product marketing, and communications.
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CSV | Hot Stocks07:04 EDT Carriage Services announces review of strategic alternatives - Carriage Services announced that its Board of Directors has initiated a process to explore potential strategic alternatives, possibly including a sale, merger or other potential strategic or financial transaction, to maximize shareholder value. There can be no assurance that this process will result in a transaction or, if a transaction does occur, the timing of any such transaction. The Company does not intend to comment further on this process unless there are material developments to report. Lazard is serving as financial advisor and Sidley Austin LLP is serving as legal advisor to the Company.
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TCRX | Hot Stocks07:03 EDT TScan Therapeutics CFO Brian Silver to depart - TScan Therapeutics announced that its CFO Brian Silver, will be leaving the Company, effective July 21, 2023, to pursue a new opportunity at an advisory firm based in New York, where he lives with his family. Brian will continue to be available to provide strategic advice for the Company. The Company has initiated a search for a successor CFO.
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BMY | Hot Stocks07:01 EDT Bristol-Myers granted European Commission approval for Opdivo in NSCLC - Bristol Myers announced that the European Commission has approved Opdivo - nivolumab - in combination with platinum-based chemotherapy for the neoadjuvant treatment of resectable non-small cell lung cancer, or NSCLC, at high risk of recurrence in adult patients with tumor cell PD-L1 expression greater than or equal to 1%. Opdivo with chemotherapy becomes the first neoadjuvant immunotherapy-based treatment option approved for patients in the European Union in this setting. The EC's decision is based on results from the Phase 3 CheckMate -816 trial, in which three cycles of Opdivo with chemotherapy demonstrated a statistically significant and clinically meaningful improvement in event-free survival and pathologic complete response compared to chemotherapy alone when administered before surgery. The safety profile of Opdivo with chemotherapy was consistent with previously reported studies in NSCLC. Opdivo with chemotherapy has also been approved for the neoadjuvant treatment of patients with resectable NSCLC regardless of PD-L1 expression levels in 21 countries, including the United States, Japan and China, and additional regulatory applications are under review by global health authorities.
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CGC | Hot Stocks07:01 EDT Canopy Growth appoints PKF O'Connor Davies as auditor - Canopy Growth announced the appointment of PKF O'Connor Davies as its independent registered public accounting firm for the 2024 fiscal year and accepted the resignation of KPMG. "This change has been underway for some time and reflects a joint decision between Canopy Growth and KPMG. We are pleased to welcome PKFOD, which has specific experience in supporting clients in the cannabis industry as our accounting firm for fiscal 2024. Going forward, we remain focused on our ongoing actions to strengthen Canopy Growth's balance sheet and advance towards profitability" said Judy Hong, CFO, Canopy Growth.
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IGT | Hot Stocks06:54 EDT International Game subsidiary signs cross-licensing agreement with FDJ Gaming - International Game announced that its subsidiary, IGT Global Services, has signed a cross-licensing agreement with FDJ Gaming Solutions France, a subsidiary of FDJ Group which delivers B2B betting services, distribution services and interactive services for the gaming industry.
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LLY SGTX | Hot Stocks06:53 EDT Eli Lilly to acquire Sigilon Therapeutics for $14.92 per share in cash - Eli Lilly (LLY) and Sigilon Therapeutics (SGTX) announced a definitive agreement for Lilly to acquire Sigilon. Since 2018, Lilly and Sigilon have worked together to develop encapsulated cell therapies, including SIG-002, for the treatment of type 1 diabetes. Under the terms of the definitive agreement, Lilly will commence a tender offer to acquire all outstanding shares of Sigilon for a purchase price of $14.92 per share in cash payable at closing, plus one non-tradeable contingent value right, or CVR, per share that entitles the holder to receive up to an additional $111.64 per share in cash, for a total potential consideration of up to $126.56 per share in cash without interest. CVR holders would become entitled to receive the following contingent payments: $4.06 per share in cash, upon first dosing of a specified product in the first human clinical trial; $26.39 per share in cash, upon first dosing of a specified product in the first human clinical trial for registration purposes; and $81.19 per share in cash, upon receipt of the first regulatory approval of a specified product. There can be no assurance that any payments will be made with respect to the CVRs. The transaction is not subject to any financing condition and is expected to close in the third quarter, subject to customary closing conditions, including that Lilly owns a majority of the outstanding shares of Sigilon's common stock following the tender offer. Following the successful closing of the tender offer, Lilly will acquire any shares of Sigilon it does not already own through a second-step merger at the same consideration as paid in the tender offer. Sigilon's board of directors unanimously recommends that Sigilon's stockholders tender their shares in the tender offer. Lilly will determine the accounting treatment of this transaction as a business combination or an asset acquisition, including any related acquired in-process research and development charges, according to Generally Accepted Accounting Principles upon closing. This transaction will thereafter be reflected in Lilly's financial results and financial guidance.
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BNTX | Hot Stocks06:49 EDT BioNTech and OncoC4 begin Phase 3 trial of non-small cell lung cancer candidate - BioNTech and OncoC4 announced that the first patient with non-small cell lung cancer - NSCLC - has been treated in a pivotal Phase 3 trial evaluating the companies' next-generation anti-CTLA-4 antibody candidate BNT316/ONC-392 - gotistobar -. The trial is part of BioNTech's strategy to initiate multiple pivotal trials in 2023 and 2024. The Phase 3 trial will assess the efficacy and safety of BNT316/ONC-392 as monotherapy compared to the standard-of-care chemotherapy in patients with metastatic NSCLC that progressed under previous PD-1-inhibitor treatment. The primary endpoint measure will be overall survival. Secondary endpoints include overall response rate, progression-free survival and adverse event profile. The program received Fast Track Designation from the FDA in 2022. The initiation of the Phase 3 trial is based on positive safety and efficacy data from an ongoing Phase 1/2 study with BNT316/ONC-392 alone and in combination with pembrolizumab in patients with advanced solid tumors. Follow-up data recently demonstrate an encouraging anti-tumor activity and a manageable safety profile for BNT316/ONC-392 in a patient cohort with metastatic, anti-PD-1-resistant NSCLC.
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LNN | Hot Stocks06:48 EDT Lindsay sees sales volume in Brazil to increase in Q4 - CEO Wood concluded, "As we are now in the growing season in North America, demand in our fourth quarter is expected to be driven primarily by summer crop harvest and storm damage replacement, which we are expecting to be lower than the exceptional demand we experienced in last year's strong fourth quarter. The potential impact from continuing drought conditions could provide additional demand support. We expect sales volume in Brazil to increase in the fourth quarter, supported by the new government financing program that was recently announced. Demand across other international markets continues to be supported by positive agricultural market fundamentals and continuing global concerns over food security and global grain supplies. The impact of increased U.S. infrastructure spending and the strength of our project sales funnel support the long-term growth outlook for our infrastructure business. The timing of project execution at the state level can be difficult to predict and, because of delayed startups we have experienced to date, we expect a limited positive impact on our fiscal 2023 results and a more meaningful positive impact in fiscal 2024 and beyond."
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OXY... | Hot Stocks06:37 EDT Berkshire Hathaway buys 2.14M shares of Occidental, stake boosted to 25% - In a regulatory filing, Warren Buffett's Berkshire Hathaway (BRK.A) disclosed that it spent $122.1M to buy 2.14 million more shares of Occidental Petroleum (OXY), bringing the total ownership to 224.13 million shares, or 25.1% of the shares outstanding. The filing showed that Berkshire bought 638,301 shares at a weighted average price of $57.0143 on Monday, 1,239,180 shares at $57.1694 on Tuesday and 260,769 shares at $57.02 on Wednesday. Shares of Occidental Petroleum are up over 1% in pre-market trading.
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KA MRK | Hot Stocks06:32 EDT Kineta to Receive $5M milestone payment from Merck - Kineta (KA) achieved a development milestone which triggers a $5M payment from its research and development collaboration with Merck (MRK). This collaboration, focused on the discovery and development of novel candidates for the treatment of amyotrophic lateral sclerosis - ALS -, originated from an agreement between Yumanity Therapeutics and Merck. Following this milestone, Merck will assume sole responsibility for all future development and commercialization of the ALS program. Under the collaboration and license agreement, Kineta is eligible to receive additional milestone payments totaling up to $255M associated with the successful development of marketed products for pipeline programs, as well as royalties on worldwide net sales.
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PSN | Hot Stocks06:31 EDT Parsons to act as lead designer to the Skanska Halmar JFK Joint Venture - Parsons announced that the company will serve as lead designer to the Skanska Halmar JFK Joint Venture in support of a $1.24B design and reconstruction of John F. Kennedy International Airport's Central Terminal Area Roadways, Utilities and Ground Transportation Center in Queens, New York. Skanska, a leading global construction and development firm, and joint venture partner, Halmar International, LLC, was awarded a contract by the Port Authority of New York and New Jersey to carry out the project, which will improve the airport's roadway network by creating an easier to navigate and more user-friendly airport experience.
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GBX | Hot Stocks06:13 EDT Greenbrier increases quarterly dividend 11% to 30c per share - Board increases quarterly dividend by 11% to 30c per share, payable on August 8 to shareholders of record as of July 18. Represents Greenbrier's 37th consecutive quarterly dividend.
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LITB | Hot Stocks06:12 EDT LightInTheBox announces $10M share repurchase program - LightInTheBox announced that its board of directors authorized a share repurchase program under which the company may repurchase up to $10M of its ordinary shares in the form of American Depositary Shares no later than December 31, subject to the relevant rules under the Securities Exchange Act of 1934, as amended and the company's insider trading policy.
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MNOV | Hot Stocks06:08 EDT MediciNova's MN-166 does not show efficacy in alcoholism trial - MediciNova presented the results of the Phase 2b trial of MN-166 - ibudilast - in alcohol use disorder at the 46th Annual Research Society on Alcoholism Scientific Meeting held June 24 - 28 in Bellevue. The clinical trial was funded by the National Institute on Alcohol Abuse and Alcoholism, a component of the National Institutes of Health. The primary objective of the trial was to evaluate the effects of MN-166 vs. placebo on percent heavy drinking days over the course of a 12-week treatment period. MN-166 treatment was not superior to placebo for reducing percent heavy drinking days. Also, MN-166 treatment was not superior to placebo for the secondary endpoints.
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SKM JOBY | Hot Stocks06:05 EDT SK Telecom to make $100M investment in Joby Aviation - Joby Aviation (JOBY) announced that SK Telecom (SKM) is making an equity investment of $100M in Joby, as part of an expanded partnership between the two companies. The agreement, executed on 27 June, paves the way for Joby to participate alongside SKT in Korea's "K-UAM Grand Challenge." The Challenge is a phased demonstration program, led by the Korean Ministry of Land, Infrastructure and Transport, which is designed to foster the adoption of aerial ridesharing in Korea. Joby and SKT first signed a strategic collaboration agreement in February 2022, which was expanded to include TMAP, South Korea's largest mobility platform, in May 2022. This investment is expected to lead to the development of further partnerships across the mobility ecosystem in Korea, led by SKT.
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CIR | Hot Stocks06:04 EDT Arcline stands behind proposal to acquire Circor for $57.00 per share - Arcline announced a binding proposal to acquire 100% of the shares of Circor for $57.00 per share. Arcline fully expects to receive the regulatory approvals needed to close its potential acquisition of Circor. Any potential overlap with portfolio companies of Arcline represents a negligible portion of Circor's business, which operates in a highly competitive and fragmented sector. In addition, Arcline's proposal is not contingent on obtaining financing. Consequently, Arcline's offer presents no meaningful execution risk to Circor's shareholders.
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BTAI | Hot Stocks06:04 EDT BioXcel Therapeutics' BXCL501 shows positive results in Alzheimer's agitation - BioXcel Therapeutics announced positive topline results for TRANQUILITY II, a Phase 3 trial of BXCL501, the company's proprietary, orally dissolving film formulation of dexmedetomidine under investigation for the acute treatment of Alzheimer's disease-related agitation. The Phase 3 trial met its primary efficacy endpoint with the 60 mcg dose; a statistically significant and clinically meaningful 7.5 point reduction from baseline in Positive and Negative Syndrome Scale-Excitatory Component total score was observed at 2 hours versus 5.4 with placebo. The 60 mcg dose also met the first key secondary endpoint of reducing agitation symptoms at 1 hour during the first episode of agitation but did not meet the other key secondary endpoint of change from baseline in PEC score at 30 minutes. Efficacy for this dose was supported by a number of secondary measures. Most patients - 76% - responded to the first 60 mcg dose and were determined to be "Very Much" or "Much Improved" vs. 50% with placebo. BXCL501 continued to show a PEC reduction over repeated dosing. BXCL501 was well tolerated, with a side effect profile substantially consistent with prior trials of BXCL501 and the current label for IGALMI. The majority of safety events occurring within 24 hours of dosing in this population were mild or moderate in severity and consistent with the current IGALMI label. The company plans to develop a path to potential sNDA submission for the acute treatment of agitation associated with Alzheimer's disease in H2 2023, subject to further discussions with the FDA.
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RMTI | Hot Stocks06:04 EDT Rockwell Medical announces 3-year co-promotional pact with B. Braun Medical - Rockwell Medical announced that the company entered into a three-year co-promotion services agreement with B. Braun Medical, a company involved in renal therapies including innovative, high-quality products for hemodialysis. As part of the agreement, Rockwell Medical designates B. Braun as an independent, non-exclusive representative to promote the Company's hemodialysis concentrates products to dialysis providers in the United States, concertedly on the west coast. All terms of the sale of any Rockwell Medical product, including price, delivery schedule, and terms and conditions, are set by Rockwell Medical, at the Company's sole discretion. All orders will be directed to, and processed by, Rockwell Medical. B. Braun will receive a fee for any sales generated by its promotional efforts.
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COST | Hot Stocks05:53 EDT Costco cracking down on membership sharing, to require ID at all registers - Costco announced on Wednesday that it will require identification at all registers, including self-checkout lanes. The company said: "Costco is able to keep our prices as low as possible because our membership fees help offset our operational expenses, making our membership fee and structure important to us. Costco's membership policy has not changed. We have always asked for membership cards at our registers at time of checkout. Our membership policy states that our membership cards are not transferable and since expanding our self-service checkout, we've noticed that non-member shoppers have been using membership cards that do not belong to them. As we already ask for the membership card at checkout, we are now asking to see their membership card with their photo at our self-service checkout registers." Reference Link
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RIDE HNHPF | Hot Stocks05:12 EDT Lordstown Motors receives approval of first day motions - Lordstown Motors (RIDE) announced that the United States Bankruptcy Court for the District of Delaware entered orders granting approval, on an interim or final basis, of all of the company's "first day" motions filed in its chapter 11 cases on June 27. Lordstown continues to operate with significant unencumbered cash-on-hand. Additionally, the court granted interim approval of the company's first day employee wages and benefits motion, which enables the company to continue paying all employee wages, salaries, and providing benefits - without interruption. The hearing for final approval of that motion is scheduled for July 27. Bankruptcy courts routinely grant final approval of the relief requested. The company can also continue paying suppliers/vendors for all authorized goods delivered and services rendered after the filing date of June 27. Following the hearing, the company is prepared to turn its attention to the expedited marketing and sale process for its assets, including the Endurance assets, as proposed in the company's motion for approval of that process filed on the petition date. The company is also poised to continue vigorously pursuing its pending litigation against global technology company Hon Hai Technology Group (HNHPF) and certain of its affiliates.
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CRM | Hot Stocks05:06 EDT Deloitte Digital, Salesforce to collaborate on AI - Deloitte Digital and Salesforce announced a collaboration to provide organizations around the world with the accelerators and strategies they need to deploy trusted AI for CRM. Deloitte Digital will offer its AI services, industry experience, and knowledge of data protection to help organizations implement and scale Salesforce AI Cloud, Salesforce's suite of trusted, open and business-ready generative AI-powered applications. Together, Deloitte Digital and Salesforce will help clients harness the power of AI for CRM to deliver tailored customer experiences, supercharge company productivity and safeguard their data.
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YALA | Hot Stocks05:03 EDT Yalla showcases 'Merge Kingdoms' at DEF - Yalla announced it showcased its new hard-core game, "Merge Kingdoms", at the Dubai Esports and Games Festival, or DEF, 2023, MENA's premier esports and gaming event.
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