Stockwinners Market Radar for August 18, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:34 EDT Boeing awarded $94.1M Air Force contract - Boeing was awarded a $94.1M firm-fixed-price and cost type contract for integration and installation of modernization on two Boeing 777 aircraft. This contract provides for aircraft modernization technology. Work will be performed at Oklahoma City, Oklahoma; and Ardmore, Arkansas, and is expected to be completed by November 9, 2027. This contract involves foreign military sales to India. This contract was a sole-source acquisition. FY23 Foreign Military Sales funds in the amount of $78.25M are being obligated at time of award. The Air Force Life Cycle Management Center is the contracting activity.

17:21 EDT Aflac exec Riggieri sells 7,649 common shares - In a regulatory filing, Aflac chief actuary and global CRO Albert Riggieri disclosed the sale of 7,649 common shares of the company on August 17 at a price of $76.095 per share.

17:02 EDT DZS discloses Nasdaq notice on late 10-Q filing - DZS Inc announced that on August 15, 2023, it received a delinquency notification letter from the Nasdaq Stock Market LLC indicating that the Company is not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c) because the Company did not timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2023. The notification letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.

16:36 EDT Napco Security down 27% to $28 per share after announcing financials restatement

16:34 EDT Pinterest board approves Silbermann's transition to non-executive chair - According to a regulatory filing, 0n August 17, 2023, the Board of Directors of Pinterest approved the transition of Benjamin Silbermann from Executive Chair of the Company to non-executive Chair of the Company effective as of August 18, 2023. This transition is not the result of any disagreement with the Company or its Board on any matter relating to the Company's operations, policies or practices.

16:32 EDT Arcutis CFO Scott Burrows to leave, John Smither named interim CFO - Arcutis Biotherapeutics announced that John Smither, who served as Arcutis' first CFO from 2019 to 2021, has been appointed interim CFO effective August 31. He is replacing Scott Burrows, who is leaving the company as of such date to pursue an external opportunity.

16:30 EDT Cable One raises quarterly dividend to $2.95 per share from $2.85 - The Board of Directors of Cable One, Inc. declared a quarterly cash dividend of $2.95 per share, an increase of 10c per share in the company's quarterly cash dividend. The dividend is payable on September 15, 2023 to stockholders of record at the close of business on August 29, 2023.

16:19 EDT Palo Alto Networks reports Q4 billings at $3.2B, up 18% from last year - Reports Q4 Remaining Performance Obligation up 30% from last year at $10.6B. Sees Q1 billings at $2.05B-$2.08B, up 17%-19%.

16:11 EDT Sunlight Financial announces 1-for-20 reverse stock split - Sunlight Financial at 11:59 p.m. Eastern Time on August 22, 2023. The company's common stock will begin trading on a split-adjusted basis on the New York Stock Exchange when the market opens on August 23, 2023. The reverse stock split was approved by the company's stockholders on August 11, 2023 at the company's annual meeting of stockholders, with authorization to determine the final ratio having been granted to the company's Board of Directors. At the effective time, every 20 issued and outstanding shares of the company's Class A common stock will be converted into one share of the company's Class A common stock. Once effective, the reverse stock split will reduce the number of shares of the Company's Class A common stock issued and outstanding from approximately 86M to approximately 4.3M. Additionally, at the effective time, every 20 issued and outstanding shares of the company's Class C common stock, which is not listed on the NYSE, will be converted into one share of the company's Class C common stock.

16:08 EDT Globus Maritime to sell two vessels for gross price of $21.9M - Globus Maritime entered into a binding agreement to sell the 2009-built m/v/ Sky Globe for a gross price of $10.7M, before commissions and expenses, to an unaffiliated third party, which sale is subject to standard closing conditions and requirements. The vessel is expected to be delivered to its new owner between September 1st and September 30th. Furthermore, on August 16th, the company, through a wholly owned subsidiary, entered into a binding agreement to sell the 2010-built m/v/ Star Globe for a gross price of $11.2M, before commissions and expenses, to an unaffiliated third party, which sale is subject to standard closing conditions and requirements. The vessel is expected to be delivered to its new owner between September 1 and September 30.

16:06 EDT Napco Security to restate financials for prior three quarters - The company states: "On August 14, 2023, the Audit Committee of the Board of Directors of the Company, concluded that the Company's previously issued unaudited interim financial statements for the fiscal quarters ended September 30, 2022, December 31, 2022 and March 31, 2023, respectively, included in the Company's quarterly report on Form 10-Q for such respective quarters, should no longer be relied upon. During the preparation of the Company's consolidated financial statements for the fiscal year ended June 30, 2023, management of the Company identified certain errors related to the Company's calculation of cost of goods sold and inventory for each of the first three quarters of fiscal 2023. Specifically, although the costs of several components fluctuated substantially during fiscal 2023, the Company's costing procedures did not appropriately account for such fluctuations. As a result, inventories were overstated and COGS was understated, resulting in overstated gross profit, operating income and net income for each period. The Company is in the process of preparing amended Forms 10-Q for each of the first three quarters of fiscal 2023 and intends to file such amendments as soon as reasonably practicable after the restatement process is completed."

16:02 EDT Veradigm receives Nasdaq notice regarding delayed 10-Q filing - Veradigm announced that, as expected, it received a notice from Nasdaq indicating that the company remains noncompliant with Nasdaq Listing Rule 5250(c)(1) because the company has not filed its Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all periodic reports with the Securities and Exchange Commission. The company previously received notices from Nasdaq on March 20, 2023 and on May 18, 2023 that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) because the company had not timely filed the Form 10-K and the Q1 Form 10-Q. The company received notice from Nasdaq on August 16, 2023 that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) because the company had not timely filed the Q2 Form 10-Q. In response to the Prior Notices and pursuant to Nasdaq Listing Rules, on May 18, 2023, the company submitted to Nasdaq its compliance plan addressing both the Form 10-K and Q1 Form 10-Q filings, which was approved by Nasdaq. The company plans to submit an update to the Compliance Plan on or prior to August 31, 2023 addressing its plans to file the Q2 Form 10-Q and regain compliance under the Listing Rules.

14:44 EDT Medical Properties Trust trading resumes

14:33 EDT Medical Properties Trust calls WSJ article 'false and misleading' - Medical Properties Trust responded to it calls "the most recent of several false and misleading articles published by the Wall Street Journal, in this case related to the Company's May 23, 2023 transaction with Prospect Medical Holdings." The company said, "While MPT engaged with the author, Jonathan Weil, to ensure full awareness of all the facts surrounding this transaction and the Company's investment in PHP Holdings LLC, Mr. Weil decided to wholly disregard this information in the article that was published. Importantly, the Wall Street Journal proceeded with publication before Prospect was able to provide necessary clarifications, even though Prospect indicated it intended to do so and the article itself acknowledging the extraordinary disruption and distraction that Prospect is currently dealing with following a ransomware attack. As such, MPT believes it is important to clarify the following facts for the investment community: The California Department of Managed Health Care's hold sent to Prospect on July 20, 2023 is a standard, expected, and non-controversial part of the approval process for this transaction. This hold indicates that certain additional information is required prior to the issuance of final approval from the DMHC, which the Company fully expects to obtain in due course as it has been advised it is highly unlikely the regulators would not approve a transaction following receipt of all required information. In the unlikely event that the regulator does not grant approval for the transaction, MPT's investment in PHP would remain a convertible note with identical economics to equity ownership. As a result, DMHC's request was deemed immaterial to MPT's financials and thus did not require disclosure. The Company's recording of its $68 million equity investment as revenue in the second quarter was fully consistent with accounting requirements and was entirely unrelated to the DMHC approval process. Mr. Weil's attempt to conflate the two matters has no basis in fact. Amid a continued chorus of intentionally deceptive claims being perpetuated by individuals with a clear financial incentive to do so, MPT also believes it is notable that the publication of this article coincides with both market hours and the expiration of equity put options which settle on the third Friday of every month. MPT remains focused on creating long-term value for shareholders through its investments in hospital real estate and refuses to be distracted by the continued spread of misinformation."

13:50 EDT Medical Properties Trust trading halted, news pending

13:03 EDT Baker Hughes reports U.S. rig count down 12 to 642 rigs - Baker Hughes reports that the U.S. rig count is down 12 from last week to 642 with oil rigs down 5 to 520, gas rigs down 6 to 117 and miscellaneous rigs down 1 to 5. The U.S. Rig Count is down 120 rigs from last year's count of 762 with oil rigs down 81, gas rigs down 42 and miscellaneous up 3. The U.S. Offshore Rig Count is down 1 to 17, down 1 year-over-year. The Canada Rig Count is down 1 from last week to 189, with oil rigs up 3 to 119 gas rigs down 4 to 70. The Canada Rig Count is down 12 from last year's count of 201, with oil rigs down 18, and gas rigs up 6.

12:34 EDT MGE Energy raises quarterly dividend 5% to 42.75c per share - The board of directors of MGE Energy increased the regular quarterly dividend rate approximately 5% to 42.75c per share on the outstanding shares of the company's common stock. The dividend is payable Sept. 15, 2023, to shareholders of record Sept. 1, 2023. This raises the annualized dividend rate by 8c from $1.63 per share to $1.71 per share.

12:00 EDT GreenTree Hospitality falls -8.2% - GreenTree Hospitality is down -8.2%, or -50c to $5.60.

12:00 EDT Keysight Technologies falls -12.5% - Keysight Technologies is down -12.5%, or -$18.80 to $131.25.

12:00 EDT Globant rises 10.6% - Globant is up 10.6%, or $17.26 to $180.24.

10:55 EDT Hitek Global Inc trading resumes

10:37 EDT Whirlpool unveils $60M+ technology center in Michigan - Whirlpool Corporation has unveiled a new 153,000-square-foot technology center in St. Joseph, Mich. The $60+ million project expands and replaces much of the current St. Joseph Technology Center, the company said in a statement, adding that this is the first of a three phase plan to redesign a research and development facility that has been home to decades of appliance innovations.

10:20 EDT Deere says factories ran 'really well' in Q3 - Says farmers expected to have "strong year." Says dealers watching used inventories "closely."

10:02 EDT IZEA awarded contract with CPG brand - IZEA Worldwide has been awarded a brand-direct, high-six-figure contract with a consumer packaged goods brand. IZEA's Managed Services team will execute an influencer marketing campaign to drive brand awareness and encourage consumers to try products across the brand's product line.

10:00 EDT XPeng falls -7.9% - XPeng is down -7.9%, or -$1.23 to $14.42.

10:00 EDT Dolby rises 7.1% - Dolby is up 7.1%, or $5.49 to $82.31.

10:00 EDT Corporacion America Airport rises 9.6% - Corporacion America Airport is up 9.6%, or $1.29 to $14.69.

09:47 EDT Vipshop falls -8.4% - Vipshop is down -8.4%, or -$1.36 to $14.87.

09:47 EDT Globant rises 5.5% - Globant is up 5.5%, or $9.02 to $172.00.

09:47 EDT Hawaiian Electric rises 11.3% - Hawaiian Electric is up 11.3%, or $1.36 to $13.39.

09:41 EDT VFS Stock trading halted, volatility trading pause

09:39 EDT ADiTx Therapeutics trading resumes

09:34 EDT ADiTx Therapeutics trading halted, volatility trading pause

09:23 EDT Veris Residential shareholder issues statement - Veris Residential shareholder Kushner, a real estate owner and operator, issued the following statement. "While we have openly expressed concerns in the past regarding certain aspects of Veris's operations, governance and capital structure, we feel that, in keeping with our open communication with the Veris and its shareholders, it is important to recognize tangible progress when we see it. We believe that in an ongoing complex macro environment Veris's board and management have gone a long way to address many of the concerns that we, as a major shareholder of the company, have raised in the past. The company's focus on multifamily residential properties in its core markets, disposal of non-core assets such as the Harborside properties, simplification of its balance sheet, and reinstatement of distributions to shareholders demonstrates to us that Veris is on the right track for the benefit of all stakeholders. We are gratified that our involvement at Veris has led to greater boardroom accountability and look forward to continuing to monitor our investment and the company's progress."

09:19 EDT Rumble releases app for Samsung Smart TVs - Rumble (RUM) announced the release of its new Samsung Smart TV (SSNLF) app, which features 24/7 live streams and on-demand content from Rumble creators. Users can download the app and watch a wide variety of video content, including viral videos, popular political pundits, hip-hop and gaming icons, exclusive podcasts, cute pet videos, and more. Along with Apple TV, Roku, Amazon Fire TV, and LG Smart TVs, the Samsung TV app allows users another way to watch Rumble on their television. With the free Samsung TV app, you can stream the biggest live events, exclusively on Rumble, including the first 2024 Republican Presidential Primary Republican Debate. Watch democracy in action starting Wednesday, August 23rd at 9 p.m. ET and follow the latest debate news on Rumble.

09:03 EDT Mullen Automotive's 2023 US EV tour begins Sunday in Austin, Texas - Mullen Automotive announces that the 2023 Mullen "Strikingly Different" EV Tour kicks off this weekend, Aug 20-21, at Circuit of the Americas in Austin, Texas. The tour is scheduled to run until Nov. 15, 2023, covering the South, East Coast, Midwest, and West Coast before finishing up in California. This year on tour, the public will have the opportunity to test drive and experience Mullen's commercial and retail EVs and check out the latest electric vehicle technology the company has been working on, including AI-powered PERSONA, Mullen's proprietary advanced facial recognition technology. "I'm grateful for the continued support and to be embarking on the second year of the 'Strikingly Different' tour with many more Mullen vehicles to showcase," said David Michery, CEO and chairman of Mullen Automotive. "With every stop of the tour, we aim to showcase the power, performance and possibilities of our EVs."

09:01 EDT Huntington Ingalls hires Ayad to serve as Chief Growth Officer - HII's Mission Technologies division has hired Ahmed Ayad to serve as chief growth officer. Reporting to Andy Green, HII executive vice president and president of HII's Mission Technologies division, Ayad is responsible for shaping and implementing the division's growth strategy and driving compelling solutions to its customers' most complex national security challenges. Ayad recently supported ManTech, where he served as vice president and growth lead for the defense sector since 2019.

08:52 EDT Canaan provides update on bitcoin mining operation challenges - Canaan announced that the challenges set forth below may adversely impact the company's bitcoin generation and revenue from its mining activities, primarily due to reduced uptime, beginning in Q3. Regarding Kazakhstan regulatory changes, to ensure legal compliance, the company decided to temporarily shut down approximately 2.0 Exahash/s of its mining computing power in Kazakhstan since July 2023, after the Rules for Licensing of Digital Mining Activities became effective in Kazakhstan in April. The company must wait for one of its local partners to obtain its Type I license for mining infrastructure possessors before the company can complete its license application. The company now anticipates a continued suspension of its mining operations in Kazakhstan into Q3, resulting in an expected reduction in bitcoin generation. The computing power shutdown consists of approximately 50% of the company's total installed computing power in Central Asia and North America, which totaled 4.0 Exahash/s at the end of Q1. The company has been building out its global mining operations outside Kazakhstan and exploring avenues to sustain collaboration with local miners by adjusting present cooperation arrangements to align with both the Law and the Rules. Regarding the dispute relating to joint mining activities in the U.S., on August 3, Canaan U.S. participated in a mediation with a partner that provides hosting and management services for cryptocurrency mining machines, after the partner breached the parties' Joint Mining Agreement at a U.S.-based mining farm. Canaan US seeks to recover for, among other things: the partner's failure to install 13,000 of Canaan US's cryptocurrency mining machines; ) the partner's failure to refund Canaan US's $1.25M deposit; the partner's failure to cause the continued operation of another 13,000 cryptocurrency mining machines that were installed, which have yet to be returned; the partner's failure to pay Canaan US a substantial amount of the Bitcoin profits; the partner, in violation of the agreement, attempted to impose substantial off-contractual operating fees on Canaan. Because no settlement was reached at the mediation, Canaan US intends to file an arbitration demand and proceed to arbitrate the parties' dispute.

08:37 EDT Nano Dimension issues presentation highlighting strategy for value creation - The company said, "Nano Dimension issued a detailed investor presentation highlighting Nano's strategy for significant long-term value creation, while underscoring Murchinson's lack of a strategic plan and intention to dismantle the Company, gaining access to the Company's cash reserves and depriving other shareholders of the value creation opportunity Nano presents. Shareholders face a stark choice - vote for a Board that is building significant long-term value or turn the keys over to a bad actor who has no knowledge of the industry or ability to run the Company. Nano's Board urges shareholders to protect their investment and the future of the Company by voting today "FOR" ALL of Nano's highly qualified nominees. The Annual Meeting will be held on Thursday, September 7th, at 8:00 a.m. ET. Shareholders of record as of the close of business on July 31st, 2023, are entitled to vote at the meeting."

08:33 EDT Regency Centers closes acquisition of Urstadt Biddle Properties - Regency Centers (REG) announced the completion of its previously announced acquisition of Urstadt Biddle Properties (UBA, UBP) in an all-stock transaction. The combined company has a total equity market capitalization of more than $11B and an enterprise value of more than $16B. The transaction grows Regency's footprint of high-quality, grocery-anchored shopping centers in premier suburban trade areas, and is expected to be immediately accretive to Core Operating Earnings while maintaining Regency's liquidity and balance sheet flexibility and strength. The newly-combined portfolio is comprised of 480 properties encompassing more than 56 million square feet of gross leasable area.

08:07 EDT Ameresco awarded DOE Generation 4 energy savings performance contract - Ameresco announced that it has been awarded the Department of Energy's, or DOE's, Generation 4 energy savings performance contract, or ESPC, contract, a government-wide vehicle that allows Federal agencies to leverage private capital and utility cost savings to reduce energy consumption, decarbonize, and enhance the resilience of Federal facilities. The DOE awarded the indefinite delivery indefinite quantity contract to a total of twenty prime contractors who can now compete for individual ESPC task orders. The Gen4 contract carries a $5B contract ceiling over 10 years. On each of the previous generations of this contract, Ameresco developed many impactful project solutions totaling more than $2B in the aggregate.

08:05 EDT Catheter Precision announces ticker symbol change - Catheter Precision, the renamed company that previously was named Ra Medical Systems will now be trading under the symbol VTAK. VTAK is an anachronym for Ventricular Tachyarrhythmia, also called VT, a fast heartbeat of the ventricle. Catheter Precision, Inc., has an FDA cleared product called VIVO, used in the diagnosis and treatment of ventricular arrhythmias. The symbol RMED will no longer be used.

08:04 EDT Gorilla files universal shelf registration statement on Form F-3 - Gorilla Technology Group announced that it has filed a universal shelf registration statement on Form F-3 with the United States Securities and Exchange Commission. The filing enhances the company's financial maneuverability, enabling greater access to the capital markets to fund Gorilla's growth.

07:47 EDT Chart Industries completes sale of Roots business to Ingersoll-Rand - Chart Industries (GTLS) closed its sale of the Roots business to Ingersoll Rand (IR) for an all-cash purchase price of $300M representing an attractive low-teens adjusted EBITDA multiple. The proceeds from the sale are being used for debt paydown. Roots is a leading provider of low-pressure compression and vacuum technologies. As part of the transaction, Ingersoll Rand assumed ownership of the Connersville, Indiana manufacturing facility and is retaining approximately 300 team members. The Roots business was moved to discontinued operations effective as of March 17, 2023. Chart's banking covenant net leverage ratio as of June 30, 2023 was 3.86X, or 3.72X, on a pro forma basis after giving effect to the Roots divestiture and assuming approximately $80M of cash from the previously announced Cofimco divestiture had been available for debt paydown.

07:13 EDT Can-Fite BioPharma submits Piclidenoson pediatric study plan to FDA - Can-Fite BioPharma announced that it submitted a pediatric study plan to the FDA for the treatment of adolescents suffering from psoriasis with Piclidenoson. The plan has been submitted to allow enrollment of adolescents with psoriasis to Can-Fite's upcoming two Phase 3 pivotal clinical psoriasis studies, aiming at registration of Piclidenoson with both the FDA and the European Medicines Agency for the treatment of plaque psoriasis.

06:52 EDT Estee Lauder believes July cybersecurity incident is 'contained' - As the company disclosed on July 18, 2023, it identified a cybersecurity incident involving an unauthorized third party that gained access to some of the company's systems. After becoming aware of the incident, the company proactively took down some of its systems, initiated an investigation with leading third-party cybersecurity experts and began coordinating with law enforcement. The company began bringing its systems back online within days, which limited the incident's impact on the company's operations. Based on the information available to date, the company believes the incident is contained.

06:50 EDT Estee Lauder CEO sees 'sequentially improving margin' throughout 2024 - Fabrizio Freda, President and CEO said, "We returned to organic sales growth in the fourth quarter, delivering our outlook. Momentum continued in the markets of EMEA and Latin America, and accelerated strongly in Asia/Pacific led by mainland China and Hong Kong SAR. For full-year fiscal 2023, we delivered organic sales growth and prestige beauty share gains in many developed and emerging markets, but Asia travel retail pressured results, particularly in Skin Care, and we continued to experience softness in North America. Fragrance excelled, up double digits in every region, and Makeup improved sequentially to double-digit growth in the fourth quarter as more markets emerged into the post-pandemic era. For fiscal year 2024, we expect to return to organic sales growth and deliver sequentially improving margin throughout the year, leveraging the strong equity and desirability of our brands. We are focused on driving momentum in markets that are thriving and re-accelerating growth in North America. In Asia travel retail, we are taking actions to capture demand from the returning individual travelers and continuing to reduce inventories in the trade as we navigate the current market headwinds. In this new fiscal year, we also intend to set the stage for a stronger fiscal year 2025 acceleration, with a very robust innovation pipeline planned across the two years and progressive margin rebuilding plans."

06:32 EDT WeWork to implement 1-for-40 reverse stock split - WeWork will proceed with a 1-for-40 reverse stock split of its outstanding shares of Class A Common Stock and Class C Common Stock following approval by its Board of Directors and within the ratio range previously authorized by shareholders at the annual meeting of WeWork shareholders on June 12. The reverse stock split will be effective at 4:01 p.m., ET, on September 1. The company's Class A Common Stock will begin trading on a post-split basis at the market open on September 5. The reverse stock split is being effected primarily to increase the company's per share trading price and to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the NYSE. The company does not expect the reverse stock split to impact its current or future business operations.

06:29 EDT Hawaiian Electric suspending bills for 18,000 customers in affected areas - In an investor update, Hawaiian Electric President and CEO Shelee Kimura said: "Hawaiian Electric will continue to be here in full force with hundreds of dedicated employees and partners from Maui, O'ahu, Hawai'i Island, Moloka'i, Lna'i, and beyond. Over the past week, I have been with our teams on Maui that have helped safely restore power to 80% of the customers affected. Among other efforts, we have deployed more than 400 Hawaiian Electric crew members and contractors to Maui. We are: Using a mobile substation at Lahainaluna to help restore power to homes, schools and county facilities; Replacing some of the estimated 400 poles, 300 transformers and other equipment damaged by the fires and high winds and conducting extensive repairs in areas that are safe and accessible; Shipping dozens of vehicles and pieces of specialized equipment from O'ahu and bringing in additional expert personnel and equipment from the continental U.S.; and Suspending bills for approximately 18,000 customers located in the affected areas to ensure that those who have experienced a loss can focus on their well-being and taking care of themselves and their families."

05:59 EDT Novartis 'confident' Sandoz spinoff is in best interests of shareholders - Novartis issued the invitation to an Extraordinary General Meeting of Novartis shareholders, scheduled to take place on September 15, 2023, in relation to the proposed 100% Spin-off of Sandoz, the Generics and Biosimilars business of Novartis. At the EGM, shareholders of Novartis will vote on two proposals: A special distribution by Novartis AG of a dividend-in-kind to effect the Spin-off of Sandoz Group AG; A reduction of the share capital of Novartis AG in connection with the Spin-off of Sandoz Group AG.The EGM has been called after the Novartis Board of Directors unanimously endorsed and recommended that shareholders approve the proposed separation of Sandoz via a Spin-off. "This is a key step in the separation process, which was initiated in August 2022 when Novartis announced its intention to separate the Sandoz business to create an independent company by way of a 100% Spin-off. Novartis is confident that the Spin-off is in the best interests of shareholders, creating a European champion and a global leader in Generics and Biosimilars, and a more focused Novartis. Looking ahead, both companies would be able to focus on maximizing value creation for their shareholders by prioritizing capital and resource allocation, employing separate capital structure policies, and increasing management focus on their respective business needs." Reference Link

05:12 EDT Coty renews long-term license agreement with Adidas - Coty (COTY) announced that it has renewed its long-term license agreement with Adidas (ADDYY). The partnership of adidas and Coty has been focused on the intersection of personal care, wellness, sports and sports lifestyle, with pioneering research and innovation into areas such as the impact of fragrance on sports performance. The ambition to remain at the leading edge of personal care continues with the new Active Skin & Mind Range and its use of active ingredients, such as Hyaluronic Acid complex, and more sustainable sulphate-free formulas to enhance performance.