Stockwinners Market Radar for September 04, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:00 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. The United Auto Workers union and the three Detroit automakers have less than two weeks to negotiate a new labor contract, and a strike of some sort seems increasingly likely, The New York Times' Neal E. Boudette reports. A strike against one of the companies, especially a prolonged stoppage, could send an economic jolt through several Midwestern states and crimp the profits of General Motors (GM), Ford Motor (F) or Stellantis(STLA), the author adds. A strike against all three could have a noticeable impact on the broader U.S. economy, the publication notes. 2. Barclays (BCS) is exploring the sale of a stake in the unit that processes payments for U.K. merchants as the British bank seeks a partner to help grow the business, Reuters' Amy-Jo Crowley, Pablo Mayo Cerqueiro and Milana Vinn report, citing four people familiar with the matter. The bank is considering bringing in a partner with the strategic "know-how" to expand the business, as well as raising capital, but has yet to decide how big a stake it might sell, said the people. The business could be valued at least $2.5B, sources added. 3. Wall Street seems of two minds about Allegro MicroSystems (ALGM), a New England-based chip maker whose sales to the auto industry have risen fast, Bill Alpert writes in this week's edition of Barron's. Allegro stock shot up 150% to a July peak above $50, before easing back to a recent $38. Even after its retreat, the company's stock fetches 37 times its operating earnings in the latest fiscal year-about twice the multiple of the S&P 500. All but one of the half dozen brokerage firms covering the stock rate it a Buy, arguing that Allegro's lead in magnetic sensor chips will lift the stock by 45%. But a number of buyside investors aren't convinced Allegro's growth and exceptional profit margins can last. They've joined the 8% of Allegro's float that's short, in a bet that the stock will drop, the author says. 4. Sony's (SONY) "The Equalizer 3" won the Labor weekend at the North American box office with a $42.3M debut for the four days. The movie starring Denzel Washington received an A CinemaScore. Overseas, "The Equalizer 3" opened to $26.1M for a global tally of $68.4M through Monday. 5. On Holding's (ONON) saw a positive mention in this week's edition of Barron's, while Coinbase (COIN) was mentioned cautiously.

16:10 EDT Seagen, Genmab announce Phase 3 innovaTV 301 trial met primary endpoint of OS - Seagen (SGEN) and Genmab A/S (GMAB) announced that the Phase 3 innovaTV 301 global trial in recurrent or metastatic cervical cancer patients with disease progression on or after front-line therapy who received TIVDAK, compared with chemotherapy alone, met its primary endpoint of overall survival, or OS. An Independent Data Monitoring Committee determined that OS crossed the pre-specified efficacy boundary at interim analysis. The key secondary endpoints of investigator-assessed progression-free survival and objective response rate also demonstrated statistical significance. The safety profile of TIVDAK in innovaTV 301 was consistent with the known safety profile of TIVDAK as presented in the U.S. prescribing information, and no new safety signals were observed. The results of innovaTV 301/ENGOT cx-12/GOG 3057, a global, randomized, open-label Phase 3 trial, add to the previous results of innovaTV 204, which served as the basis for the accelerated approval of TIVDAK in the U.S. Subject to discussions with regulatory authorities, the results from innovaTV 301 are intended to serve as the pivotal confirmatory trial for the U.S. accelerated approval and support global regulatory applications. The innovaTV 301 China extension study has been initiated and continues to enroll patients, in collaboration with Zai Lab Limited. Results of the Phase 3 innovaTV 301 clinical trial will be submitted for presentation at an upcoming medical congress and discussed with regulatory authorities.

07:08 EDT Medivir reports interim safety, efficacy data from Phase 1b/2a HCC study - Medivir AB announced what it called "promising interim safety and efficacy data" from its ongoing phase 1b/2a study of first-in-class candidate drug fostrox in combination with Lenvima in advanced hepatocellular carcinoma patients for whom current first- or second-line treatment has proven ineffective or is not tolerable. The interim results confirmed the previously announced favorable safety and tolerability profile. No new or unexpected safety events and the combination continues to be tolerable. The phase 2a dose expansion part of the study is ongoing and is now fully recruited. Data from phase 1b/2a is planned to be presented at an upcoming scientific congress.

06:59 EDT Cameco provides production, market update - Cameco provided a market update regarding challenges at the Cigar Lake mine and Key Lake mill that are expected to impact its 2023 production forecast. At the Cigar Lake mine, the company now expects to produce up to 16.3M pounds of uranium concentrate this year, a reduction from the previous forecast of 18M pounds U3O8. Production from the McArthur River/Key Lake operations for 2023 is anticipated to be 14M pounds U3O8, down from the previous forecast of 15M pounds U3O8. As previously reported, mining activities at the Cigar Lake operation were initiated from a new zone in the orebody in the second quarter of this year, which impacted productivity. As mining activities continued in the west pod during the third quarter, equipment reliability issues emerged which further affected performance. The mine is scheduled to enter its planned annual maintenance shutdown that will run through most of September. At the Key Lake mill, ramp up activities remain ongoing. However, as noted in our second quarter MD&A, there is continued uncertainty regarding planned production in 2023 at Key Lake due to the length of time the facility was in care and maintenance, the operational changes that were implemented, availability of personnel with the necessary skills and experience, and the impact of supply chain challenges on the availability of materials and reagents. These factors have combined to impact production at Key Lake, leading to the reduced forecast. The McArthur River mine continues to operate well and is expected to achieve its planned production for the year. Any ore from McArthur River that is not immediately processed at Key Lake will be stored in inventory for future milling. Cameco says the company's strategy of full-cycle value capture. Any pounds it does not produce this year will remain available and, with increasing supply pressures, potentially become more valuable when delivered in the future. Cameco has exposure to higher prices under the market-related contracts in our long-term portfolio and a pipeline of contracting discussions underway, which it expects will also benefit from the increased focus on securing access to scarce supplies and generate long-term value for Cameco. "This expected production shortfall further highlights the growing security of supply risk at a time when we believe the demand outlook is stronger and more durable than ever and where the risk has shifted from producers to utilities. Uncertainty about where nuclear fuel supplies will come from to satisfy growing demand continues to drive long-term contracting, with clear evidence that the broader uranium market is moving toward replacement rate contracting for the first time in over a decade. This is the type of contracting necessary to promote the price discovery already seen in the enrichment and conversion markets and that is expected to incentivize investments in the supply needed to satisfy the growing long-term requirements," the company adds. This unplanned event may lead to variability in the other outlook provided in its second quarter MD&A for 2023; however, it is too soon to quantify what the impact might be.