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Stockwinners Market Radar for October 13, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| PCTI | Hot Stocks19:28 EDT PCTEL trading halted, news pending
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| GL | Hot Stocks19:01 EDT Globe Life to acquire Evry Health, terms not disclosed - Globe Life announced it has signed an agreement to acquire Evry Health. Founded in 2017, Evry Health is a business-to-business health insurance company that differentiates itself from traditional PPOs and HMOs by lowering the cost of healthcare through software automation with a mobile-first experience. The company's expansive benefit plans encourage access to care and preventative health by offering no copays or deductibles for in-network care.
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| HUM | Hot Stocks18:34 EDT Humana: 94% of MA members enrolled in plans rated 4 stars and above for 2024 - Humana announced that nearly 5.5M, or 94%, of its Medicare Advantage members currently are enrolled in plans rated 4 stars and above for 2024 by the Centers for Medicare and Medicaid Services. Four of Humana's contracts received a 5-star rating on CMS's 5-star rating system, covering approximately 790,000 members nationwide and more than doubling the number of members in 5-star plans in 2023. This contributes to the nearly 3.6M, or 61%, of Humana Medicare Advantage members in plans rated 4.5 stars and above. Humana has Medicare Advantage plans rated 4 stars or higher available in all 50 states and Puerto Rico. About 97.5% of retirees in Humana's Group Medicare Advantage plans remain in 4-star or above contracts.
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| CVS | Hot Stocks17:55 EDT CVS says 87% of Aetna MA members are in 2024 MAPD plans rated 4+ stars - Aetna, a CVS Health company, announced that 87 percent of its Medicare Advantage (MA) members are in 2024 Medicare Advantage Prescription Drug (MAPD) plans that are rated 4 stars or higher (out of 5 stars) by the Centers for Medicare & Medicaid Services (CMS). This represents a significant achievement, given the considerably more stringent CMS measurement criteria this year. "We are committed to delivering outstanding experiences and driving improved health outcomes for our Medicare Advantage members," said CVS Health President and CEO Karen S. Lynch. "Our strong 2024 Star Ratings for Aetna are a result of focused execution and seamless collaboration across our entire company. We remain unwavering in our efforts to drive continuous improvement to support our members now and well into the future."
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| NETC | Hot Stocks17:52 EDT Nabors Energy Transition extends deadline for business combination to Nov. 18 - Nabors Energy Transition announced that its board of directors has elected to extend the date by which NETC has to consummate a business combination by one additional month from October 18, 2023 to November 18, 2023, as permitted under NETC's second amended and restated certificate of incorporation. The Extension provides NETC with additional time to complete its previously announced initial business combination with Vast Solar Pty Ltd. In connection with the Extension, Nabors Lux 2 S.a.r.l., an affiliate of Nabors Energy Transition Sponsor LLC, has deposited $295,519.23 into NETC's trust account for its public stockholders, which enables NETC to effectuate the Extension. Nabors Lux loaned the Extension Payment to NETC through a non-interest-bearing loan. If NETC consummates an initial business combination, it will repay the loans out of the proceeds of the Trust Account or, at the option of the Sponsor, convert all or a portion of the loans into warrants for $1.00 per warrant, which warrants will be identical to the warrants issued by NETC in a private placement in connection with NETC's initial public offering. If NETC does not consummate an initial business combination, it will repay the loans only from funds held outside of the Trust Account.
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| CVS | Hot Stocks17:29 EDT CVS Health says 4+ Star Medicare Advantage plans to increase - According to a regulatory filing, on October 13, 2023, the Centers for Medicare & Medicaid Services released its 2024 Star Ratings for Medicare Advantage and Medicare Part D prescription drug plans. Based on the newly released 2024 Star Ratings, which will impact revenues in 2025, the percentage of Aetna Medicare Advantage members in 4+ Star plans is expected to increase to 87%, as compared to the unmitigated 21% based on the 2023 Star Ratings. The main driver of this increase was a half Star improvement in the Aetna National PPO (Plan ID H5521), which increased from 3.5 to 4.0 Stars. CVS said that the decline in its membership 4+ Star plans for payment year 2024 resulted in a mitigated 2024 headwind of approximately $800M to $1B, which was primarily driven by the decrease of its Aetna National PPO plan from 4.5 to 3.5 Stars. "Based on the increase in our membership in 4+ Star plans for payment year 2025, we now expect to be eligible for bonus payments that will recover the majority of that revenue decrease in 2025," CVS said. "We expect to prudently reinvest a portion of this net improvement into our business and will provide additional updates at our Investor Day scheduled on December 5, 2023. The improvement in the Star Ratings is not projected to have an impact on our previously issued 2023 and 2024 guidance."
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| OGN ONTO | Hot Stocks17:21 EDT Organon to replace Onto Innovation in S&P 600 at open on 10/18
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| ONTO HUBB | Hot Stocks17:20 EDT Onto Innovation to replace Hubbell in S&P 400 at open on 10/18
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| HUBB OGN | Hot Stocks17:19 EDT Hubbell to replace Organon in S&P 500 at open on 10/18
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| LULU... | Hot Stocks17:18 EDT Lululemon to replace Activision Blizzard in S&P 500 at open on 10/18 - Microsoft (MSFT) acquired Activision Blizzard (ATVI) in a transaction completed today, October 13.
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| RTX | Hot Stocks17:18 EDT RTX awarded $156.19M Army contract - RTX was awarded a $156.19M fixed-price-incentive contract for Patriot ground support equipment, spares and component procurement. Bids were solicited via the internet with one received. Work has an estimated completion date of October 13, 2027. FY24 Foreign Military Sales funds in the amount of $156.19M were obligated at the time of the award. Army Contracting Command is the contracting activity.
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| GD | Hot Stocks17:14 EDT General Dynamics awarded $216.51M Navy contract - General Dynamics was awarded a not-to-exceed $216.51M undefinitized contract for long lead time material associated with the Virginia Class Submarines SSN 814 and SSN 815. Work is expected to be completed by September 2034. FY23 shipbuilding and conversion funding in the amount of $216.51M will be obligated at time of award and will not expire at the end of the current fiscal year. This contract was not competitively procured. The statutory authority for this sole source award is in accordance with FAR 6.302-1(a)(2)(iii) - only one responsible source and no other supplies or services will satisfy agency requirements. Naval Sea Systems Command, Washington, D.C., is the contracting activity.
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| ADI | Hot Stocks17:05 EDT Analog Devices names James Mollica as interim CFO - In a regulatory filing, Analog Devices disclosed that On October 12, the Board of Directors of the company appointed James Mollica as interim CFO, effective as of October 29, until a successor CFO is named. As previously announced, the company's search to identify the company's next CFO is ongoing. Mollica has served at the company for 35 years in roles of increasing responsibility, most recently as the company's Vice President, Finance, Global Customer Office, since December 2021. Before that, Mollica served as the company's Maxim Integrated CFO from August 2021 to December 2021, and as Vice President, FP&A and Treasurer from December 2017 to August 2021.
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| EGO | Hot Stocks17:03 EDT Eldorado Gold provides update on tax impacts related to weakening Turkish Lira - Eldorado Gold provided the following updates on the tax impacts in Turkiye related to the weakening of the Turkish Lira. The company's profits from mining operations in Turkiye are taxed at the enacted rate and the resulting current income tax expense can be further increased or reduced by other items. In the third quarter, the company expects the Turkish current income tax expense on mining profits, at an enacted rate of 25%, to be decreased by up to $3M. The expected decrease is primarily due to reductions from the investment tax credit relating to Kisladag and Efemcukuru, increased depreciation impact of revaluated fixed assets and certain legislated discounts to the enacted rate, partly offset by increases due to the weakening of the Lira in the quarter and the resulting generation of taxable unrealized foreign exchange gains. As disclosed in the second quarter, the enacted rate change is applicable retroactively to profits earned in the first and second quarters. As a result, an incremental current tax charge of approximately $6.2M will be recognized in the three and nine months ended September 30. Additionally, the enacted rate change will result in an approximate $19M to $20M deferred tax expense for the three and nine months ended September 30.
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| ZKIN | Hot Stocks17:02 EDT ZK International Group receives Nasdaq delisting notice, to request hearing - ZK International Group announced that on October 10, the company received notice from the Listing Qualifications Department of The Nasdaq Stock Market that, based upon the company's non-compliance with the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) as of October 10, the company's securities were subject to delisting unless the company timely requests a hearing before the Nasdaq Hearings Panel. The company plans to timely request a hearing before the Panel, which request will stay any further action by Nasdaq and will allow the company's ordinary shares to continue to trade on Nasdaq under the symbol "ZKIN" at least pending the issuance of the Panel's decision and the expiration of any extension the Panel may grant to the company following the hearing.
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| SDIG | Hot Stocks16:37 EDT Stronghold Digital Mining unit enters MSA with Frontier Outpost 8 - Stronghold has been focused on the optimization of its data centers following the receipt of the Bitcoin miners to reach its previously announced 4 EH/s target. This has included working with Frontier Mining, an industry-leading Bitcoin mining data center management company, in a temporary consulting capacity regarding a thorough assessment of the opportunity to maximize data center revenue opportunities. On October 13, 2023, Stronghold Digital Mining LLC, a wholly owned subsidiary of the company, and Frontier Outpost 8 entered into a Managed Services Agreement pursuant to which Frontier is to provide certain services, including monitoring, operating, and maintaining the company's wholly owned data centers located at each of the Panther Creek power plant and the Scrubgrass Plant.
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| SDIG | Hot Stocks16:35 EDT Stronghold Digital Mining mined 196 Bitcoin in September - Stronghold mined 196 Bitcoin in September 2023 and generated approximately $0.2M in energy revenue, which represents the equivalent of approximately 7 additional Bitcoin based on the average price of Bitcoin during the month of September. This equates to approximately 203 of Bitcoin-equivalent production in September 2023 compared to approximately 235 in August 2023. The company experienced an unplanned outage during September 2023 at its Scrubgrass power plant that affected both its plant operations and data center operations. The company elected to extend the outage at the Scrubgrass Plant due to low power prices in an effort to conduct additional maintenance. The data center located at the Scrubgrass Plant returned to full operations after seven days, importing power from the PJM Interconnection LLC grid. Once the data center at the Scrubgrass Plant resumed operations, hash rate finished the month at approximately 3.5 exahash per second, the company's all-time-high hash rate, up approximately 15% versus the August 2023 exit hash rate. As the outage at the Scrubgrass Plant continues, PJM recently requested that the company reduce its imports to 10 to 20 megawatts for an estimated 10-day period starting on October 11, 2023, in order to perform transmission line work in the area. Stronghold intends to cooperate with the PJM import directive. Stronghold plans to start the Scrubgrass Plant imminently in order to resume full data center output while minimizing the impact of the PJM directive. Stronghold expects October 2023 Bitcoin production to be in the range of 205 to 215 Bitcoin, excluding any electricity sales, and the company continues to expect over 20% average hash rate growth in the fourth quarter of 2023 when compared to the third quarter of 2023.
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| PFE | Hot Stocks16:32 EDT Pfizer launches cost realignment program - In addition, in the fourth quarter of 2023, Pfizer announced that the company has launched a multi-year, enterprise-wide cost realignment program that will realign its costs with its longer-term revenue expectations. The program is expected to deliver targeted savings of at least $3.5 billion, of which $1.0 billion is expected to be realized in 2023 and an additional $2.5 billion is expected to be realized in 2024. The one-time costs to achieve the savings associated with the new cost realignment program are expected to be approximately $3.0 billion, of which the majority is expected to be cash. These costs will primarily include severance and implementation costs. Pfizer will continue to refine the estimated targeted savings and their associated costs over the remainder of the year and will incorporate them into its full-year guidance for 2024.
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| PFE | Hot Stocks16:31 EDT Pfizer amends U.S. government Paxlovid supply agreement - Pfizer announced that it has amended its supply agreement with the U.S. government for Paxlovid, the first oral antiviral pill approved by the U.S. Food and Drug Administration. At the end of 2023, Pfizer will accept a non-cash return of any remaining Emergency Use Authorized (EUA)-labeled U.S. government inventory, estimated to be 7.9 million treatment courses, and in the fourth quarter, will reverse the associated revenues currently estimated to be approximately $4.2 billion. The commercial transition will begin in November 2023, as the U.S. government begins to discontinue the distribution of EUA-labeled Paxlovid. Pfizer will ensure commercial readiness by providing NDA-labeled commercial supply to all channels by the end of 2023, however, EUA-labeled Paxlovid will remain available free-of-charge to all eligible patients until the end of the year, and therefore Pfizer expects only minimal uptake of NDA-labeled commercial product before January 1, 2024. Any remaining EUA-labeled treatment courses previously purchased by the U.S. government will be converted to a volume-based credit. This credit will support continued access to Paxlovid through a patient assistance program (PAP) operated by Pfizer on behalf of the U.S. government. As part of the PAP, all federally insured patients (Medicare and Medicaid) and the uninsured will receive Paxlovid, free of charge, through 2024. Beginning in 2024, Pfizer will sell Paxlovid to privately insured patients (commercial) with prices to be negotiated with payers and offer a copay program through 2028. The PAP will continue to provide access to Paxlovid to eligible uninsured and underinsured patients through that same period. Additionally, Pfizer will manage and supply 1.0 million treatment course U.S. Strategic National Stockpile (SNS) to enable future pandemic preparedness and refresh stock prior to expiry through 2028. Pfizer will recognize revenues as product is delivered beginning in 2024.
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| RYAM | Hot Stocks16:31 EDT Rayonier Advanced Materials engages Houlihan Lokey to explore asset sale - Rayonier Advanced Materials announced that it has engaged Houlihan Lokey as its financial advisor to explore the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site. This strategic move is aligned with RYAM's commitment to enhancing its operational and financial performance, optimizing its portfolio to align with its long-term growth strategy, and providing flexibility to pay down debt and reduce leverage. The engagement of Houlihan Lokey, a renowned global investment bank, underscores RYAM's dedication to a rigorous and diligent evaluation of its strategic options.
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| PTN | Hot Stocks16:18 EDT Palatin receives noncompliance notification from Nasdaq - Palatin announced it received a notice from the staff of NYSE American that Palatin was not in compliance with the Exchange's continued listing standards under Section 1003(a)(i) and (ii) of the NYSE American Company Guide. Section 1003(a)(i) requires a listed company to have stockholders' equity $2M or more if the listed company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years, and Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4M or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. Palatin is now subject to the procedures and requirements of Section 1009 of the NYSE American Company Guide. Palatin has until November 9, 2023, to submit a plan of actions it has taken or will take to regain compliance with the continued listing standards by April 10, 2025.
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| LNKB PTRS | Hot Stocks16:13 EDT LinkBancorp, Partners Bancorp receive regulatory approval for merger - LinkBancorp (LNKB) and Partners Bancorp (PTRS) announced receipt of required regulatory approvals from the Federal Deposit Insurance Corporation, the Pennsylvania Department of Banking and Securities, the Virginia State Corporation Commission, the Delaware Office of the State Bank Commissioner and the Maryland Office of the Commissioner of Financial Regulation in order to complete the previously announced merger of equals transaction under which Partners will merge with and into LINK in an all-stock transaction, with LINK as the surviving corporation in accordance with the Agreement and Plan of Merger, dated as of February 22, 2023 by and between LINK and Partners. In connection with the Merger, The Bank of Delmarva and Virginia Partners Bank will each merge with and into LINKBANK, with LINKBANK as the surviving sole bank subsidiary of LINK. The Merger, which was previously approved by the shareholders of each company, remains subject to the approval of the Board of Governors of the Federal Reserve System and other customary closing conditions. LINK anticipates closing the Merger in the fourth quarter of 2023.
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| ICPT | Hot Stocks15:43 EDT CHMP starts review of Intercept's Ocaliva - The European Medicines Agency's human medicines committee has started a review of Intercept's Ocaliva, used to treat adults with primary biliary cholangitis. PBC is an autoimmune condition that causes gradual destruction of the small bile ducts in the liver, which can lead to liver failure and increase the risk of liver cancer. The review was prompted by the final results from two studies in patients with PBC, which were requested by EMA in 2016 as part of the conditions to the initial marketing authorisation of Ocaliva. Study 747-302 was designed to confirm the benefits and safety of Ocaliva, while study 747-401 assessed the safety of Ocaliva in patients with advanced liver disease. In particular, study 747-302 failed to show that Ocaliva was more effective than placebo in terms of the number of patients whose disease worsened or who died. In addition, side effects, including serious ones, occurred more frequently in patients treated with Ocaliva. EMA will now review these findings alongside all other available data and assess their impact on the overall benefit-risk balance of Ocaliva. The Agency will then make a recommendation on whether the medicine's marketing authorisation in the EU should be amended.
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| DAL | Hot Stocks15:27 EDT Delta adds direct flights from Athens to NY to support Tel Aviv repatriation - Delta stated in an update post to its corporate New Hub: "U.S. citizens in Tel Aviv seeking to return to the U.S. have new travel options as the U.S. Department of State charters flights out of Ben Gurion Airport to European destinations. Passengers will then be able to take commercial flights back to the U.S., including on Delta." Delta is adding direct flights from Athens International Airport Eleftherios Venizelos to New York's John F. Kennedy International Airport in support of repatriation efforts, the company noted. Reference Link
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| WES | Hot Stocks14:31 EDT Western Midstream closes Meritage Midstream acquisition - Western Midstream Partners announced the closing of the previously announced acquisition of Meritage Midstream Services II. The consideration was funded with cash on hand and WES's recent $600M investment grade senior notes issuance. "The Meritage acquisition transforms WES's existing asset footprint in the Powder River Basin with expanded gathering and processing facilities, a diversified customer base, and long-term contracts supported by minimum volume commitments and acreage dedications. As previously announced, for the third quarter 2023, management intends to recommend a Base Distribution increase of $0.0125, or $0.05 annualized, resulting in a total annualized distribution of $2.30 per common unit," the Partnership stated.
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| CAT | Hot Stocks14:16 EDT Caterpillar names George Moubayed as Chief Sustainability and Strategy Officer - Caterpillar announced that George Moubayed, current senior vice president of the Enterprise Strategy Division, will assume additional responsibilities as the Chief Sustainability and Strategy Officer, effective Jan. 1, 2024. Moubayed succeeds Chief Sustainability Officer Lou Balmer-Millar, who is retiring on Dec. 31, 2023. In his capacity as Chief Sustainability Officer, Moubayed will report directly to Chairman and CEO Jim Umpleby.
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| ILMN | Hot Stocks14:12 EDT Illumina maintains EC does not have jurisdiction over Grail acquisition - Illumina reports it has received an order from the European Commission, or EC, directing the company to divest Grail. In response, Illumina stated: "Receipt of the order is an important next step in evaluating divestiture options for GRAIL. Illumina is committed to resolving all issues regarding GRAIL in a timely manner, with the objective of achieving the maximum value for shareholders and the best outcome for GRAIL. Notably, the terms of the order provide for flexibility in transaction structure, an encouraging outcome from Illumina's ongoing dialogue with the EC. Under the terms of the EC's order, Illumina will have twelve months to divest GRAIL, with the potential for a three-month extension, and will be permitted to explore a range of structures including, but not limited to, a third-party sale or a capital markets transaction. Illumina will lead the divestiture process and, with the assistance of financial and legal advisors, has already begun the preparatory work necessary for divestment, if needed. Consistent with the previous interim measures orders, Illumina is required to continue funding GRAIL until any divestiture. In the instance of a capital markets transaction, Illumina must capitalize GRAIL at the time of the transaction with two-and-a-half years of funding based on GRAIL's long-range plan. The order also provides for Illumina to retain a stake in GRAIL of up to 14.5% and reestablish the royalty arrangement it previously had in place with GRAIL. Illumina maintains that the Commission does not have jurisdiction over this acquisition. The company's jurisdictional challenge remains pending at the European Court of Justice, or ECJ. If Illumina wins its jurisdictional challenge at the ECJ, the basis for the EC's divestiture order would be eliminated. However, if Illumina is not successful with either its ECJ jurisdictional appeal or in a final decision of the U.S. Fifth Circuit Court of Appeals, the company will divest GRAIL. Illumina's third quarter 2023 earnings call is scheduled for November 9, and company leaders will respond to further questions from the investment community at that time."
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| EBF | Hot Stocks14:01 EDT Ennis acquires Eagle Graphics and Diamond Graphics - Ennis announced its acquisition of Eagle Graphics, Inc. from Annville, PA and Diamond Graphics, Inc. from Bensalem, PA. Since 1976, Eagle Graphics has specialized in fulfilling the commercial printing needs of its customers. Some of Eagle Graphics capabilities include 8-color UV web printing, digital printing, security printing, jumbo rolls, traditional forms and direct mail. Diamond Graphics, founded in 1999 specializes in Direct Mail printing and has a combination of presses that allow for flexibility. Diamond is known for their Direct Mail printing and the high volume padding done for the non-profit industry. "I want to welcome the employees and customers of Eagle Graphics and Diamond Graphics to the Ennis family," said Keith Walters, Chairman, President & CEO of Ennis, Inc. "Eagle and Diamond are well known brands that will grow our Pennsylvania presence along with National Imprint (NIC). These companies will strengthen our production capabilities to serve our large and growing customers base in the Northeast part of the country."
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| GD | Hot Stocks13:31 EDT General Dynamics NASSCO announces ship repair contract valued at up to $754M - General Dynamics NASSCO, a subsidiary of General Dynamics, announced it was awarded a contract by the U.S. Navy for the maintenance, modernization and repair of USS Chung-Hoon and USS James E. Williams. The contract for an initial $15.6M includes options that, if exercised, would bring the cumulative value to $753.8M. Work will be performed in Norfolk, Virginia, and San Diego, California. If all options are exercised, work will continue through November 2030.
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| CRNC SSNLF | Hot Stocks13:21 EDT Cerence files patent infringement lawsuit against Samsung - Cerence (CRNC) announced the filing of a patent infringement lawsuit against Samsung Electronics (SSNLF) and Samsung Electronics America, Inc. in the United States District Court for the Eastern District of Texas. The lawsuit against Samsung covers certain core Cerence technologies, including voice recognition, handwriting recognition, and wake-up words. These technologies are foundational to Cerence's product portfolio and its work with the world's leading mobility OEMs, Cerence said in a statement. "Cerence has full confidence in the strength of its patent portfolio and plans to vigorously defend its intellectual property rights," said Jennifer Salinas, SVP & General Counsel, Cerence. "This lawsuit against Samsung is necessary to protect significant R&D and other investments, as well as our deep heritage and culture of innovation. We remain committed to having our intellectual property rights respected and enforced."
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| BKR | Hot Stocks13:09 EDT Baker Hughes reports U.S. rig count up 3 to 622 rigs - Baker Hughes reports that the U.S. Rig Count is up 3 from last week to 622 with oil rigs up 4 to 501, gas rigs down 1 to 117 and miscellaneous rigs unchanged at 4. The U.S. Rig Count is down 147 rigs from last year's count of 769 with oil rigs down 109, gas rigs down 40 and miscellaneous up 2. The U.S. Offshore Rig Count is up 2 to 22, up 8 year-over-year. The Canada Rig Count is up 13 from last week to 193, with oil rigs up 8 to 116 gas rigs up 4 to 76 and miscellaneous up 1. The Canada Rig Count is down 23 from last year's count of 216, with oil rigs down 34, and gas rigs up 10 and miscellaneous up 1.
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| BKR | Hot Stocks13:09 EDT Baker Hughes reports U.S. rig count up 3 to 622 rigs
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| BTDR | Hot Stocks12:50 EDT Bitdeer Technologies Group trading resumes
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| DIS | Hot Stocks12:40 EDT Disney announces 'first-of-its-kind' content hub with TikTok - Disney said in a statement: "Beginning Monday, October 16, in honor of The Walt Disney Company's 100th anniversary, Disney will offer fans a unique, interactive experience on TikTok where stories, magic, and memories come together. Fans will be able to watch videos from across Disney's brands, create their own videos with Disney music and effects, play daily Disney trivia, and collect and trade "Character Cards" to win unique profile frames to express their fandom." "For more than 100 years, Disney has been a leader in creative innovation and storytelling, so we are thrilled to continue that legacy with this first-of-its-kind experience on TikTok," says Asad Ayaz, Chief Brand Officer of The Walt Disney Company. "With over 240 billion views across Disney's portfolio of brands and experiences, TikTok has become a go-to destination for Disney fans to create, engage and connect around their favorite Disney films, shows, characters and experiences, so we're thrilled to partner with them as we celebrate the 100th anniversary of the company." In addition, TikTok is curating a special Disney100 Playlist for our community featuring some of the most popular hits from the Disney catalog, Disney said. Reference Link
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| AGR | Hot Stocks12:36 EDT Avangrid units NYSEG, RG&E energy plan approved by New York state - New York State Electric & Gas and Rochester Gas and Electric, subsidiaries of Avangrid, received approval from the New York Public Service Commission for their Reliable Energy New York plan, which will enable the Utilities to make critical investments in reliability, resiliency, and customer service and help achieve New York's Climate Leadership and Community Protection goals. The PSC ruling sets electric and gas rates through April 2026 and comes after more than a year of extensive engagement and negotiation with the New York State Department of Public Service and a variety of external stakeholders. It was supported fully or in part by eight intervenors including the staff of the New York State Department of Public Service, IBEW Local Union 10, and the New York Power Authority. "This plan is an investment in the future reliability and resiliency of the New York grid," said Pedro Azagra, Avangrid CEO. "Each year, the impacts of climate change increase and we need to make investments to not only mitigate these risks for our customers, but also enable more renewable energy like wind and solar. We appreciate the work by the Department of Public Service staff and thoughtful deliberation by the Public Service Commission to bring the "Reliable Energy New York," plan to fruition."
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| NCNA | Hot Stocks12:35 EDT NuCana presents data from two ongoing studies with NUC-3373 in CRC - NuCana announced presentations from two ongoing clinical studies with NUC-3373 in colorectal cancer at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics 2023 taking place October 11-15, 2023 in Boston, Massachusetts. For the first time, data has been presented from second-line patients with CRC. Previously, NuCana announced data on NUC-3373 both as a monotherapy and as part of combination therapy in heavily pre-treated patients who had exhausted all available standard treatments. In these studies, NUC-3373 demonstrated a favorable safety profile and encouraging signs of efficacy, including tumor volume reductions in patients who were refractory to prior fluoropyrimidine treatment. The NuTide:302 study is now in Part 3, where second-line patients with CRC are receiving either NUC-3373 in combination with leucovorin, irinotecan and bevacizumab or NUC-3373 in combination with leucovorin, oxaliplatin and bevacizumab. Data presented today showed that both regimens had favorable tolerability profiles. Furthermore, both NUFIRI-bev and NUFOX-bev demonstrated promising anti-tumor activity, including numerous patients with tumor volume reductions. Additionally, several patients achieved a longer progression-free survival on NUC-3373-based regimens as compared to the PFS achieved in their first-line treatment with 5-FU-based therapy. The ongoing Phase 2 randomized NuTide:323 study is investigating NUFIRI-bev versus the global standard of care, 5-FU in combination with leucovorin, irinotecan and bevacizumab, in 171 second-line patients with CRC. The study is recruiting well and aggregated safety data from the first 40 patients enrolled showed no new safety signals.
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| KRON | Hot Stocks12:34 EDT Kronos Bio reports 'positive' preliminary data from Phase 1/2 KB-0742 study - Kronos Bio announced "positive" preliminary data from the Phase 1 dose escalation portion of the ongoing Phase 1/2 clinical trial of KB-0742 at the AACR-NCI-EORTC International Conference in Boston, Mass. KB-0742 is the company's internally discovered, highly selective, orally bioavailable cyclin dependent kinase 9, or CDK9, inhibitor being developed to treat transcriptionally addicted solid tumors. These tumors include transcription factor fusion driven cancers such as sarcomas, as well as MYC-dependent tumors, such as triple negative breast, ovarian, and lung cancer. The preliminary analysis included 28 patients enrolled in a dose escalation study who received doses from 10 mg up to 60 mg, with data cut-off September 1, 2023. KB-0742 demonstrated on-mechanism single agent anti-tumor activity in heavily pre-treated patients with transcriptionally addicted tumor types and exhibited a manageable safety profile, with no grade 3/4 neutropenia observed. KB-0742 also demonstrated dose proportional exposure and target engagement and a 24-hour plasma half-life, enabling intermittent dosing. "These positive preliminary efficacy and safety data underscore the promise of KB-0742 to treat patients with transcriptionally addicted tumors. The observed anti-tumor activity and absence of grade 3/4 neutropenia are particularly encouraging as we continue to enroll patients and explore a maximum tolerated dose. We look forward to advancing the study and reporting additional results, including data from the dose expansion portion of the study, mid next year," said Jorge DiMartino, M.D., Ph.D., Chief Medical Officer and Executive Vice President, Clinical Development.
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| BTDR | Hot Stocks12:26 EDT Bitdeer Technologies Group trading halted, volatility trading pause
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| JDST | Hot Stocks12:00 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares falls -11.1% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is down -11.1%, or -91c to $7.27.
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| AMC | Hot Stocks12:00 EDT AMC Entertainment falls -13.8% - AMC Entertainment is down -13.8%, or -$1.52 to $9.48.
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| BDC | Hot Stocks12:00 EDT Belden falls -25.9% - Belden is down -25.9%, or -$24.63 to $70.64.
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| AG | Hot Stocks12:00 EDT First Majestic rises 11.2% - First Majestic is up 11.2%, or 55c to $5.47.
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| ALUR | Hot Stocks12:00 EDT Allurion Technologies rises 11.8% - Allurion Technologies is up 11.8%, or 52c to $4.93.
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| HL | Hot Stocks12:00 EDT Hecla Mining rises 14.7% - Hecla Mining is up 14.7%, or 54c to $4.20.
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| BGNE | Hot Stocks11:52 EDT BeiGene reports positive CHMP opinion for Brukinsa - BeiGene announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency issued a positive opinion recommending approval of Brukinsa, a Bruton's tyrosine kinase inhibitor, or BTKi, in combination with obinutuzumab for the treatment of adult patients with relapsed or refractory follicular lymphoma who have received at least two prior lines of systemic therapy. Following the CHMP positive opinion, the European Commission will consider BeiGene's Marketing Application, with a final decision expected within 67 days. The decision will be applicable to all 27 member states of the European Union, plus Iceland and Norway, the company noted.
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| ENB | Hot Stocks11:20 EDT Enbridge announces executive leadership changes - Enbridge announced the following executive leadership changes: Mr. Reggie Hedgebeth has been appointed Executive Vice President, External Affairs and Chief Legal Officer and Ms. Laura Buss Sayavedra has been appointed Senior Vice President, Projects and Chief Administrative Officer, effective January 1, 2024. "These appointments follow thedecisions of Bob Rooney, Executive Vice President and Chief Legal Officer and Byron Neiles, Executive Vice President and Chief Administrative Officer to step down from their current roles on December 31, 2023. Messrs. Rooney and Neiles will serve as Executive Advisors to Enbridge to support the transition and outstanding projects until their retirement in mid 2024," the company stated.
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| PNC | Hot Stocks11:20 EDT PNC Financial says share repurchase activity remains on pause - Sees 2023 tax rate 16.5%. Says well-positioned from a capital perspective. Says well-positioned to comply with regulatory proposals as drafted. Says on track to meet 2023 CIP target of $450M. Sees 2024 CIP goal similar to that of the 2023 program. Sees mild recession starting in the 1H24.
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| C | Hot Stocks11:15 EDT Citi sees next round of reorganization in mid-November
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| C | Hot Stocks11:14 EDT Citi sees reorganization helping bend expense curve
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| C | Hot Stocks11:12 EDT Citi actively working through mitigating impact of Basel III end game, says CEO
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| C | Hot Stocks11:08 EDT Citi CEO: Revenues in Services were the highest in over a decade
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| C | Hot Stocks11:08 EDT Citi CEO says growth in spending is decelerating
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| PNC | Hot Stocks11:05 EDT PNC Financial says focused on expense management - Says delivered strong results in Q3. Says credit quality remained strong during the quarter. Says strengthened capital and liquidity positions. Says continues to execute on key strategic priorities. Says began executing on staff reductions. Says will continue to be diligent on expense management. Comments taken from Q3 earnings conference call.
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| C | Hot Stocks11:03 EDT Citi CEO: Global backdrop remains story of desynchronization - Comments taken from Q3 earnings conference call.
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| F... | Hot Stocks10:49 EDT UAW's Fain says union spares car makers from more strikes - In a livestream on YouTube, United Auto Workers president Shawn Fain said the union is sparing General Motors (GM) and Stellantis (STLA) from further strikes, just two days after the union began striking at Ford's (F) Kentucky Truck Plant.
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| F... | Hot Stocks10:43 EDT UAW's Fain says Kentucky Truck Plant strike sends 'clear message' to automakers - In a livestream on YouTube, United Auto Workers president Shawn Fain said that workers striking at Ford's (F) Kentucky Truck Plant sent a "clear message" to the big three automakers, namely, "Don't you dare sleepwalk us or lowball us." Fain said the union is still "bargaining hard" with General Motors (GM) and Stellantis (STLA), adding that UAW members are "right to be angry" as corporate profits have "soared." The UAW president also said that "a lot more strikes" could be "on the horizon" if the big three fail to meet demands.
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| INCY | Hot Stocks10:36 EDT Incyte announces new data from Phase 3 TRuE-AD3 study of ruxolitinib cream - Incyte announced expanded results from the pivotal Phase 3 TRuE-AD3 study evaluating the safety and efficacy of ruxolitinib cream in children with atopic dermatitis, the most common type of eczema. These data were presented in a late-breaking oral presentation at the European Academy of Dermatology and Venereology Congress 2023, held from October 11-14 in Berlin. Additionally, results from a Phase 1 open-label maximum-use trial evaluating the safety and tolerability of ruxolitinib cream in children treated under maximum-use conditions over an 8-week trial period were featured as an ePoster at the EADV Congress 2023. Data from the TRuE-AD3 study, which build upon previously announced topline results, showed the study met its primary endpoint with significantly more patients treated with ruxolitinib cream achieving Investigator's Global Assessment Treatment Success than patients treated with vehicle control. IGA-TS is defined as an IGA score of 0 or 1 with at least a two-point improvement from baseline at Week 8. In addition, secondary endpoints such as time to NRS4 and patients demonstrating at least a 75% improvement in the Eczema Area and Severity Index at Week 8 were also achieved. Additional key findings from the TRuE-AD3 study include: Fifty-six percent of patients treated with ruxolitinib cream 1.5% and 36.6% treated with ruxolitinib cream 0.75% achieved IGA-TS at Week 8 compared to 10.8% of patients treated with vehicle. More than half of patients treated with ruxolitinib cream achieved EASI75 compared to those treated with vehicle at Week 8. In patients 6 to less than12 years old, NRS4 was achieved by 43.4% and 37.5% of patients at Week 8 compared to those treated with vehicle. Median time to NRS4 was 13.0/11.0 days compared to 23.0 days for vehicle. The mean steady-state plasma concentrations of ruxolitinib at Week 8 were 23.2 nM and 11.3 nM, which are well below 281 nM, suggesting meaningful systemic JAK inhibition is highly unlikely. Ruxolitinib cream was well tolerated with no serious infections, major adverse cardiovascular events malignancies or thromboses reported during the 8-week vehicle-controlled period. The most common treatment-related adverse event observed in the ruxolitinib cream arms was application site pain. Results from the maximum-use trial in children with at least 35% of their body surface area affected by AD showed ruxolitinib cream was well tolerated, with efficacy results consistent with data from an adolescent and adult maximum-use study and a pilot pharmacokinetics/safety pediatric study. Key findings from the MUsT study include: About 20% of patients treated with ruxolitinib cream 1.5% reported treatment emergent adverse events through Week 8; none were serious or led to treatment interruption or discontinuation. No TEAEs suggestive of systemic JAK inhibition were reported. The mean Css of ruxolitinib cream through Week 4 was 98.2 nM, which is well below 281 nM, suggesting meaningful systemic JAK inhibition is highly unlikely. Approximately 54% of patients achieved an IGA of 0 or 1 and approximately 73% achieved NRS4 by Week 4. Opzelura is indicated for the topical short-term and non-continuous chronic treatment of mild to moderate AD in non-immunocompromised patients 12 years of age and older whose disease is not adequately controlled with topical prescription therapies, or when those therapies are not advisable.
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| WFC | Hot Stocks10:27 EDT Wells Fargo did not originate, fund any correspondent mortgages in Q3, says CFO
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| CDTX | Hot Stocks10:25 EDT Mundipharma, Cidara receive positive CHMP opinion for rezafungin - Mundipharma and Cidara Therapeutics announced that the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion for rezafungin for the treatment of invasive candidiasis in adults The CHMP based its positive opinion on results from the pivotal ReSTORE Phase III clinical trial, which demonstrated statistical non-inferiority for rezafungin, dosed once weekly, when compared to the current standard of care, caspofungin, dosed once daily. This finding was supported by the STRIVE Phase II clinical trials and extensive nonclinical development program. The ReSTORE trial provides evidence of the efficacy and safety of rezafungin as a potential new treatment option for invasive candidiasis with a once-weekly dosing schedule. The CHMP's positive opinion on rezafungin for the treatment of serious fungal infections, such as invasive candidiasis in adults, will be referred to the European Commission, which will deliver a final decision in approximately two months.
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| TNGX | Hot Stocks10:15 EDT Tango Therapeutics Inc trading resumes
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| WFC | Hot Stocks10:13 EDT Wells Fargo still planning increase to dividend, buyback
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| WFC | Hot Stocks10:12 EDT Wells Fargo: Draft U.S. capital rules would boost RWAs by 20%
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| TNGX | Hot Stocks10:11 EDT Tango Therapeutics Inc trading halted, volatility trading pause
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| WFC | Hot Stocks10:11 EDT Wells Fargo CEO expects continued slowing of economy
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| WFC | Hot Stocks10:10 EDT Wells Fargo CEO: U.S. economy continuing to be resilient
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| WFC | Hot Stocks10:08 EDT Wells Fargo remains at risk of further regulatory actions, says CEO - Wells Fargo says that until the bank completes its work and until it is validated by regulators, Wells remains at risk of further regulatory actions.
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| WFC | Hot Stocks10:07 EDT Wells Fargo: Regulatory pressure on banks continues to grow - Comments taken from Q3 earnings conference call.
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| SNY | Hot Stocks10:06 EDT Sanofi says amlitelimab Phase 2b data show 'potential best-in-class' AD profile - Sanofi reports results from a Phase 2b study, STREAM-AD, showed that amlitelimab significantly improved signs and symptoms of moderate-to-severe atopic dermatitis or AD, in adults whose disease cannot be adequately controlled with topical medications or for whom topical medications are not a recommended treatment approach. These detailed results were presented today as part of a late-breaking session at the European Academy of Dermatology and Venereology, or EADV, 2023 Congress in Berlin. "The Phase 3 program for amlitelimab in atopic dermatitis is on track to start in the first half of 2024. This program is part of Sanofi's immunology strategy built around exploring disruptive mechanisms of action designed to deliver first and best-in-class treatments for people living with chronic inflammatory diseases," the company stated. Patients treated with amlitelimab experienced up to 61.5% improvement in average Eczema Area and Severity Index, or EASI, score from baseline at week 16, the primary endpoint, with continued improvement seen through 24 weeks. Clinically meaningful improvements were seen in all key secondary endpoints at week 16 with continued improvements through week 24, including for IGA 0/1 where patients on the highest dose experienced 22.1% improvement at week 16 which increased to 45.5% by week 24. Houman Ashrafian, M.D., Ph.D., Global Head of Research & Development, Sanofi, said: "The data presented at EADV provide more detailed insight into amlitelimab's potential as a best-in-class therapy for people with atopic dermatitis. In addition, our ability to pursue a differentiated dosing regimen could be very meaningful to patients. We look forward to initiating a larger Phase 3 development program for amlitelimab in atopic dermatitis in the first half of 2024, which further underscores our commitment to delivering a diverse range of solutions for this chronic condition."
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| STG | Hot Stocks10:00 EDT Sunlands Online falls -5.5% - Sunlands Online is down -5.5%, or -28c to $4.77.
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| JDST | Hot Stocks10:00 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares falls -6.6% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is down -6.6%, or -54c to $7.64.
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| BDC | Hot Stocks10:00 EDT Belden falls -26.2% - Belden is down -26.2%, or -$24.93 to $70.34.
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| MCW | Hot Stocks10:00 EDT Mister Car Wash rises 8.1% - Mister Car Wash is up 8.1%, or 43c to $5.75.
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| DG | Hot Stocks10:00 EDT Dollar General rises 8.4% - Dollar General is up 8.4%, or $8.54 to $110.37.
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| HL | Hot Stocks10:00 EDT Hecla Mining rises 10.8% - Hecla Mining is up 10.8%, or 40c to $4.05.
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| KFFB | Hot Stocks09:54 EDT Kentucky First Federal plans to reduce future dividends - Kentucky First Federal Bancorp announced the Company will pay a cash dividend in the amount of ten cents per share to shareholders of record on October 31, 2023 and payable on November 20, 2023. However, the Company further reported that future dividends will be reduced primarily due to the recent decline in the earnings of the Banks. Don Jennings, CEO, stated, "We have experienced historic increases in short-term market interest rates as well as a persistent inversion of the yield curve that has resulted in compressed net interest margins and much lower earnings at the bank level. As designed, our loans are repricing in response to the higher rate environment, but due to contractual terms of those loans, increases are restricted as to time and amount, resulting in a slower pace of increase than that of liabilities. We are implementing strategies to emphasize core deposit relationships instead of higher-cost funding sources. Also, we plan to, over time, shift more of the loan portfolio towards higher-earning loans to include those secured by non-owner occupied residential and commercial real estate; doing so at prudent levels while continuing our community banking model and adhering to our conservative lending standards and practices. Currently, lower earnings limit the Banks' ability to stream sufficient funds to the Company in order to fund operations and dividends while still maintaining adequate liquidity at the banks to fund operations and loan growth. While the Board continues to believe in a strong Company dividend policy, all of these factors, coupled with regulators' enhanced scrutiny of liquidity and bank dividend payout ratios relative to earnings, will necessitate a change in dividend policy for future periods. Our board will carefully consider whether a dividend may be paid to shareholders in future periods and, if so, at what level. The Board currently expects that if quarterly dividends will continue in 2024, they will be limited to no more than five cents per share. Dividends are also dependent on ongoing relevant regulatory approval."
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| TTOO | Hot Stocks09:51 EDT T2 Biosystems trading resumes
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| DUST | Hot Stocks09:47 EDT Direxion Daily Gold Miners Bear 3X ETF falls -5.8% - Direxion Daily Gold Miners Bear 3X ETF is down -5.8%, or -79c to $12.91.
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| JDST | Hot Stocks09:47 EDT Direxion Daily Junior Gold Miners Index Bear 3x Shares falls -6.8% - Direxion Daily Junior Gold Miners Index Bear 3x Shares is down -6.8%, or -56c to $7.62.
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| BDC | Hot Stocks09:47 EDT Belden falls -24.1% - Belden is down -24.1%, or -$22.92 to $72.35.
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| HL | Hot Stocks09:47 EDT Hecla Mining rises 7.9% - Hecla Mining is up 7.9%, or 29c to $3.95.
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| DG | Hot Stocks09:47 EDT Dollar General rises 8.3% - Dollar General is up 8.3%, or $8.50 to $110.33.
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| MCW | Hot Stocks09:47 EDT Mister Car Wash rises 11.5% - Mister Car Wash is up 11.5%, or 61c to $5.93.
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| RPTX | Hot Stocks09:42 EDT Repare Therapeutics announces data from Phase 1 MYTHIC clinical trial - Repare Therapeutics reported initial data from Modules 1 and 2 of its ongoing Phase 1 MYTHIC clinical trial evaluating lunresertib alone and in combination with camonsertib, an ATR inhibitor. The data are being presented in a plenary session titled, "New Drugs on the Horizon" at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics, being held October 11-15, 2023 in Boston, Mass. "The data presented today, although early, are highly promising as lunresertib in combination with camonsertib results in clear clinical activity across several tumor types and genotypes along with a favorable safety and tolerability profile," said Dr. Timothy A. Yap, MBBS, PhD, FRCP, Professor in the Department of Investigational Cancer Therapies and Vice President, Head of Clinical Development in the Therapeutics Discovery Division at The University of Texas MD Anderson Cancer Center and Principal Investigator on the MYTHIC trial. MYTHIC, a first-in-human, global, open-label Phase 1 dose-escalation clinical trial to evaluate safety, pharmacokinetics, pharmacodynamics and preliminary anti-tumor activity of lunresertib as a monotherapy or in combination with camonsertib in patients with advanced solid tumors harboring CCNE1 amplification or FBXW7 or PPP2R1A deleterious alterations achieved clinical proof of concept. As of September 5, 2023, the cutoff date for the data presented at the AACR-NCI-EORTC conference, 67 patients were enrolled in Module 1 and 59 patients in Module 2. Protocol-defined overall response at the combination preliminary recommended phase 2 dose was 33.3%; CBR at the combination preliminary RP2D was 50.0%. In all evaluable patients, across all doses, OR was 23.6% and CBR was 41.8%. In patients with gynecologic tumors at the combination preliminary RP2D, the RECIST response was 50%, OR 60%, and CBR 70%. Patients in this cohort had a median of 3 and up to 9 prior lines of therapy. Patient enrollment in MYTHIC continues both to optimize the schedule for the combination and to further investigate the promising antitumor signals seen to date in a larger number of patients with selected tumors and genomic alterations.
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| TTOO | Hot Stocks09:37 EDT T2 Biosystems trading halted, volatility trading pause
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| TRNR | Hot Stocks09:37 EDT Interactive Strength enters strategic partnership with Truemed - Interactive Strength Inc. d/b/a FORME announces a strategic partnership with Truemed. This collaboration enables U.S. customers to spend funds from their HSA and FSA programs to access FORME's wellness solutions, resulting in average after-tax savings between 30% and 40%. ORME and Truemed have joined forces to provide aligned incentives and access to expert trainers and premium equipment. Users can now conveniently purchase FORME's smart gym, the Lift, or 1:1 personal training from FORME's website at checkout, and existing FORME members could potentially benefit from reimbursement for purchases.
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| ASLN | Hot Stocks09:35 EDT Aslan Pharmaceuticals presents data from Phase 2b study of eblasakimab - ASLAN Pharmaceuticals announced the late-breaking oral presentation of data from the Phase 2b TREK-AD study of eblasakimab in adults with moderate-to-severe atopic dermatitis at the 32nd European Academy of Dermatology and Venereology Congress. Eric L. Simpson, MD, Frances J. Storrs Professor of Medical Dermatology at the Oregon Health and Science University and Lead Investigator in the TREK-AD study, presented the topline findings from the study, which were previously announced in July. Eblasakimab met the primary endpoint of percent change from baseline in the Eczema Area and Severity Index score at week 16 versus placebo with statistical significance in three dosing arms: 600mg dosed once every four weeks, which was numerically the best performing arm, 400mg dosed once every two weeks and 300mg dosed once every two weeks. Patients treated with eblasakimab at these doses saw a rapid onset of action in the first few weeks of treatment, with a statistically significant improvement in EASI score by week four. Eblasakimab was generally well-tolerated at all dose levels, with low rates of conjunctivitis and injection site reactions. New data was also presented at the EADV Congress based on a post-hoc analysis of patients with severe AD. This subgroup had a median baseline EASI score of 31.1 compared to 24.0 in the ITT population. Results from the subgroup analysis demonstrate comparable efficacy in response to eblasakimab treatment to that in the ITT population, but a marked reduction in placebo response. In the 600mg Q4W arm, the placebo-adjusted reduction in EASI score widened to 36.5% from 21.9% the placebo-adjusted EASI-75 widened to 40.7% from 27.6%, and the placebo-adjusted vIGA-AD widened to 23.0% from 16.1% . Positive data from TREK-AD, a Phase 2b study of eblasakimab in adults with moderate-to-severe AD, showed eblasakimab has the potential to deliver a monthly dosing regimen from initiation without compromising on efficacy. 289 patients were randomized in the ITT population to eblasakimab once-monthly at 400mg or 600mg, or once every two weeks at 300mg or 400mg, or placebo Q2W for 16 weeks, following two or three loading doses. A subpopulation post-hoc analysis of those with a baseline EASI score of at least 21 were performed. In the ITT population, improvement of EASI scores was significantly greater at week 16 for eblasakimab doses 600mg Q4W, 400mg Q2W and 300mg Q2W vs placebo, respectively. In the analysis of the subgroup of patients who had an EASI score of at least 21 at baseline, differences in EASI percent change from baseline at week 16 between eblasakimab-treated groups versus placebo were greater compared to the ITT population: -74.5% in 600mg Q4W, -72.7% in 400mg Q2W, -69.8% in 300mg Q2W, and -60.2% in eblasakimab 400mg Q4W versus -38.0% in the placebo arm. In the subgroup analysis, the percentage of patients achieving EASI-75 were:, 53.6% in 600mg Q4W, 49.7% in 400mg Q2W, 52.1% in 300mg Q2W, and 36.1% in 400mg Q4W versus 12.9% in the placebo arm. The percentage of patients achieving a validated Investigator Global Assessment of Atopic Dermatitis score of 0/1 were as follows:, 29.8% in 600mg Q4W, 37.6% in 400mg Q2W, 27.1% in 300mg Q2W, and 9.6% in 400mg Q4W versus 6.8% in the placebo arm. Overall, discontinuation rates were comparable between the active treatment arms and higher in the placebo arm. Eblasakimab was well tolerated; conjunctivitis and injection site reactions were slightly higher for eblasakimab versus placebo, which was 1.8% for each.
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| RHHBY | Hot Stocks09:34 EDT Genentech data for Fenebrutinib show reduction in lesions with relapsing MS - Genentech, a member of the Roche Group, announced new data from the Phase II FENopta study showing that investigational, oral fenebrutinib is brain penetrant and reduces brain lesions in people with relapsing multiple sclerosis, with a consistent safety profile to other fenebrutinib trials. The late-breaking data were featured in an oral presentation at the 9th Joint ECTRIMS-ACTRIMS Meeting. Fenebrutinib significantly reduced the total number of new T1 gadolinium-enhancing brain lesions, which are markers of active inflammation, and the total number of new or enlarging T2-weighted brain lesions, which represent the amount of disease burden or chronic lesion load. A rapid onset of lesion reduction was observed by 4 weeks, with relative reductions of 92% and 90% in T1 Gd+ lesions and relative reductions of 90% and 95% in T2 lesions observed at 8 and 12 weeks, respectively. The safety profile of fenebrutinib was consistent with previous and ongoing fenebrutinib clinical trials across more than 2,500 people to date. There were no new safety concerns identified in the FENopta study. Overall rates of adverse events were 38% with fenebrutinib and 33% with placebo.
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| NWBO | Hot Stocks09:33 EDT Northwest Biotherapeutics sees MAA submission mid to late November - orthwest Biotherapeutics provided an update about its progress toward submission of a marketing authorization application to the Medicines and Healthcare Products Regulatory Agency in the U.K. for commercial approval of the vompany's DCVax-L treatment for glioblastoma. Northwest reported that the majority of the MAA has been completed, and all but one of the key sections of the MAA have been delivered to the publisher. "The Company and its consultants are working intensively to finalize this last key section of the MAA, after overcoming an unexpected delay in that regard. The Company strongly believes that after so many years of work on the DCVax-L program, taking some additional time to help ensure that the full MAA package is as strong as it can be is especially important since the Company plans to submit applications to multiple regulators." Northwest anticipates that the remaining section of the MAA package will be delivered to the publisher within about two weeks after the consultants return on October 30 after being temporarily unavailable during the next two-week period. With this timeline, the submission of the MAA to the MHRA would take place between mid and late November.
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| JPM | Hot Stocks09:32 EDT JPMorgan says will have to re-price some deposits at some point - Says banking team "a little more optimistic" vs. last quarter. Says "robust" loan growth in Auto, Cards recently. Expects it to be "muted" going forward. Says investment banking recovery "a slow grind." Says capital increase "major headwind" to returns. Says once rule is final, will seek to re-price where possible. Says discipline on costs "aggressive as ever." Says First Republic integration going "a little better than modeled."
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| MIND | Hot Stocks09:30 EDT Mind Technology announces one-for-ten reverse stock split - Mind Technology announced that on October 12, 2023, the company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its amended and restated certificate of incorporation to effect the previously announced reverse stock split of the company's issued and outstanding shares of common stock, $0.01 par value per share, at a ratio of one-for-ten. The Charter Amendment will become effective at 5:00 p.m. Eastern Time on October 13, 2023. The company's common stock will begin trading on Nasdaq on a reverse split-adjusted basis when the market opens on October 16, 2023 under the existing ticker symbol "MIND". The new CUSIP number for the common stock following the Reverse Stock Split will be 602566309. The par value per share of the common stock will remain unchanged at $0.01.
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| VLCN | Hot Stocks09:29 EDT Volcon to effect 1-for-5 reverse stock split - Volcon filed an amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-5 reverse stock split of its common stock. The reverse stock split will take effect at 4:01 pm on October 13, 2023, and the Company's common stock will open for trading on The Nasdaq Capital Market on October 16, 2023 on a post-split basis, under the existing ticker symbol "VLCN" but with a new CUSIP number 92864V202.
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| GOLD | Hot Stocks09:19 EDT Barrick Gold says New Porgera granted special mining lease - Governor General Sir Bob Dabae granted a special mining lease to New Porgera Limited, clearing the way for Barrick Gold Corporation to restart production at the gold mine, which has been on care and maintenance for three years. This follows the signing of a mining development contract and the conclusion of a fiscal stability agreement for New Porgera between the government and NPL. NPL will meet the mine property's landowners in the coming week to settle compensation agreements. Barrick president and chief executive Mark Bristow said subject to agreement on compensation, the mine was positioned to restart before the end of this year. Recruitment was being accelerated to employ the full workforce that will be required when the mine starts ramping up operations as soon as the compensation agreements are in place.
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| UNH | Hot Stocks09:19 EDT UnitedHealth says analyst consensus near upper end of initial FY24 range - Says analyst earnings estimates for 2024 reasonably reflect the performance view we expect to offer in November with consensus near the upper end of our likely initial outlook range.
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| LEXX | Hot Stocks09:07 EDT Lexaria Bioscience enters license agreement with SulfoSyn - Lexaria Bioscience has granted a new global, exclusive license to use DehydraTECH technology to SulfoSyn. The exclusive license granted to SulfoSyn is for all non-pharmaceutical uses of sulforaphane world-wide, including SulfoSyn's ability to sub-license these rights. These non-pharmaceutical uses include but are not limited to supplements, additives, foods, dietary ingredients, and more. An up-front cash payment has already been received, minimum future payments have been agreed to, and ongoing royalty payments will be generated when they are in excess of the minimum payments. As part of a broader agreement between the two companies, Lexaria is also being contracted to perform certain DehydraTECH-related manufacturing operations at its US partner facility on behalf of SulfoSyn for an initial term of 2 years. These manufacturing operations are expected to result in an increase in revenue to Lexaria, the amount of which cannot be forecasted at this time. Beginning in late 2022, Lexaria and SulfoSyn began exploring the applicability of DehydraTECH upon sulforaphane. In extensive testing since, it has been determined that DehydraTECH confers certain superior qualities upon the sulforaphane molecule that are of commercial interest.
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| UNH | Hot Stocks09:05 EDT UnitedHealth says 2024 analyst estimates reflect earnings expectations - Says selling season on track to be among its strongest. Says experienced double digit revenue growth in both Optum and United Healthcare. Says experiencing higher care activity patterns. Says expects growth of 1M Medicare Advantage members this year. Says 2024 analyst earnings estimates reasonably reflect expectations. Comments taken from Q3 earnings conference call.
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| AVAV | Hot Stocks09:04 EDT AeroVironment jumps 4% after William Blair flags Switchblade order reports - AeroVironment shares are up 4% to $110.38 in premarket trading after William Blair said data points suggest the company has received its first large order for its anti-tank Switchblade 600 loitering missile system, "with more on the way."
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| PFE | Hot Stocks09:02 EDT Pfizer announces FDA approval of Velsipity - Pfizer announced that the FDA has approved Velsipity, an oral, once-daily, selective sphingosine-1-phosphate, or S1P receptor modulator for adults with moderately to severely active ulcerative colitis, or UC. The approved recommended dose for Velsipity is 2 mg.
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| EDRY | Hot Stocks09:02 EDT EuroDry announces delivery of M/V YANNIS PITTAS - EuroDry announced that it took delivery of the previously announced acquisition of M/V YANNIS PITTAS, a 63,177 dwt Ultramax drybulk carrier built in 2014, the first of three Ultramax carriers it agreed to acquire. The consideration for the vessel was paid by cash at-hand; the Company has arranged a sustainability-linked loan of $10.5 million with Eurobank S.A. to partly finance the acquisition which is expected to be drawn by October 16, 2023. The vessel is employed under a time charter contract until December 2023 at $12,500 per day. Aristides Pittas, Chairman and CEO of EuroDry commented: "We are pleased to have taken delivery of M/V YANNIS PITTAS, the first of the three Eco Ultramax drybulk vessels we recently announced we agreed to acquire. The remaining two vessels are expected to be delivered within October 2023. We believe our acquisition of the three vessels took place at an opportune time in the market and, despite the recently increased geopolitical uncertainties, we expect all three vessels to make significant contributions to our EBITDA for the benefit of our shareholders which remains the focus of our strategy. In parallel to the above acquisitions, we continue our share repurchase program to the maximum possible level as we believe that investing in our shares at a significant discount to our net asset value represents a very attractive opportunity for our shareholders. At the same time, we have provided us -as we always do- flexibility and equipped the Company with the option of an At-The-Market offering to be only used if our share price increases near the NAV of our stock."
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| GPRO | Hot Stocks09:02 EDT GoPro named exclusive action camera of Red Bull Rampage - GoPro announced that it has been named the exclusive action camera of Red Bull Rampage, the legendary big-mountain freeride mountain bike competition held on October 13, 2023, in Utah, USA. The partnership between GoPro and Red Bull Rampage will bring fans closer to the action through immersive rider POV and perspectives only a rugged, durable GoPro camera is capable of capturing.
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| AEY | Hot Stocks09:02 EDT ADDvantage's Fulton executes agreements with optical communications OEMs - ADDvantage Technologies Group announced that wholly owned subsidiary, Fulton Technologies, has executed new multi-year agreements with some of the largest optical communications OEMs in the United States. Under the new agreements, the Broadband division of Fulton Technologies is now authorized to provide fiber design, engineering, and construction services throughout the United States.
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| SYRA | Hot Stocks09:01 EDT Syra Health announces strategic agreement with MCDPH, Arizona - Syra Health announced a strategic agreement with Maricopa County Department of Public Health, Arizona. As part of this recent contract, Syra Health trained over 100 public health staff in Maricopa County. The aim was to provide strategies to help organizations work with individuals or other organizations, that may have different perspectives or be at a different stage of implementing health equity. The target audience specifically included people who work with populations experiencing systemic barriers that disempower and cause disadvantages, that further widen health inequities. MCDPH defines Health Equity as "every person has the opportunity to be as healthy as possible." The training helped people recognize the importance of removing systemic barriers, reducing health disparities through public health services, and collaborating with the MCDPH as strategic partners.
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| PFIN | Hot Stocks09:00 EDT P&F Industries trading resumes
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| SASI | Hot Stocks08:51 EDT Sigma Additive Solutions to acquire NextTrip for 20% of shares - Sigma Additive Solutions announced the signing of a definitive agreement for the acquisition of NextTrip Holdings, a travel technology company based in Sunrise, Florida. Additionally, Sigma has signed a definitive asset purchase agreement to sell its in-process quality assurance technology suite of assets to Divergent Technologies, inventor of the Divergent Adaptive Production System and parent company of the performance automotive company CZV assets. Pursuant to the terms and conditions of the Agreement, Sigma will acquire 100% of the capital stock of NextTrip in exchange for shares of Sigma common stock constituting 19.99% of its outstanding common stock plus additional contingent shares of Sigma common stock upon the achievement of post-closing milestone earnouts tied to the business performance of NextTrip. Assuming all business milestones are achieved, NextTrip will receive a total of 6M shares of our common stock, resulting in existing Sigma holders retaining, on a pro forma basis, 9.8% of the total outstanding shares. Based on an analysis by Sigma's financial advisors, NextTrip has an implied enterprise valuation of approximately $50M. Following a period of strategic realignment which is tied to certain NextTrip business objectives, NextTrip's potential future initiatives will be focused on driving the company's renewed growth agenda, exploring strategic M&A to drive revenue synergies through the expansion of product and travel consumer offerings, and continuing to invest in the development of innovative technologies to connect travel customers for discovery and booking domestic and international destinations. At closing, NextTrip CEO William Kerby will become CEO of the publicly traded company and NextTrip will have the right to appoint one member to the board of directors. The remaining board seats will continue to be filled by Sigma's current directors during the realignment period, with NextTrip earning the right to designate additional board members and officers upon reaching business milestones. The transactions are expected to be completed in the fourth quarter of 2023, subject to regulatory and shareholder approvals and other customary closing conditions. In connection with the transactions, Sigma is expected to change its name to NextTrip, Inc. and to be listed on Nasdaq under a new trading symbol reflecting the NextTrip name. Until the NextTrip transaction closes, Sigma Additive Solutions and NextTrip will remain separate, independent companies and will continue to operate as such. Lake Street Capital Markets is acting as the financial advisor to Sigma. The transaction was unanimously approved by the board of directors and will provide the opportunity for NextTrip to become a publicly traded company on Nasdaq.
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| JPM | Hot Stocks08:50 EDT JPMorgan says pace of buybacks likely 'modest' on capital proposal - Says pace of buybacks will remain modest. Expects 45% increase in capital requirement over 2017 if Basel 3 and GSIB surcharge draft rules are finalized in current form. Says "encouraged" by capital markets activity in September, 'healthy capital markets pipeline" going into Q4. Says M&A down, continues to be "a significant headwind." Expects FY23 NII ~$88.5B, market dependent. Expects FY23 NII excluding markets ~$89B, market dependent. Expects FY23 adjusted expense ~$84B, excluding FDIC special assessment. Sees FY23 Card services NCO rate ~2.50%. Comments taken from Q3 earnings conference call.
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| ATVI MSFT | Hot Stocks08:43 EDT Activision Blizzard says completed transaction with Microsoft - In a regulatory filing, Activision Blizzard (ATVI) stated that on October 13, the company completed the previously announced transaction with Microsoft (MSFT), pursuant to the agreement and plan of merger, dated as of January 18, 2022, as amended, supplemented or otherwise modified from time to time. Pursuant to the merger agreement, each of the company's issued and outstanding shares of common stock was cancelled and automatically converted into the right to receive $95.00 in cash, without interest. In connection with the consummation of the merger, on the closing date, the company notified Nasdaq that the merger had been consummated and that each issued and outstanding share had been converted into the right to receive the merger consideration, without interest. The company requested that Nasdaq halt trading of the shares on Nasdaq prior to the open of trading on the closing date, withdraw the shares from listing on Nasdaq and file with the U.S. Securities and Exchange Commission a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on Form 25 to report that the Shares are no longer listed on Nasdaq and to apply for the deregistration of the Shares under Section 12(b) of the Exchange Act. As a result, the shares, which previously traded under the symbol "ATVI", will no longer be listed on Nasdaq.
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| NTLA | Hot Stocks08:41 EDT Intellia Therapeutics receives PRIME designation from EMA for NTLA-2002 - Intellia Therapeutics announced that the European Medicines Agency has granted Priority Medicine designation to NTLA-2002 for the treatment of hereditary angioedema. NTLA-2002 is an in vivo CRISPR-based investigational therapy designed to prevent potentially life-threatening swelling attacks in people with HAE. PRIME designation was granted based on interim data from the Phase 1 portion of the ongoing Phase 1/2 clinical trial of NTLA-2002 in patients with HAE. In June, Intellia announced that across all 10 patients dosed in the Phase 1, a 95% mean reduction in monthly attack rate was observed after a single dose of NTLA-2002 through the latest follow-up. The median duration of follow-up was 9.0 months. At all three dose levels evaluated, NTLA-2002 has been well tolerated, and the majority of adverse events were mild in severity.
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| NTLA | Hot Stocks08:40 EDT Intellia Therapeutics receives PRIMED designation from EMA for NTLA-2002 - Intellia Therapeutics announced that the European Medicines Agency has granted Priority Medicine designation to NTLA-2002 for the treatment of hereditary angioedema. NTLA-2002 is an in vivo CRISPR-based investigational therapy designed to prevent potentially life-threatening swelling attacks in people with HAE. PRIME designation was granted based on interim data from the Phase 1 portion of the ongoing Phase 1/2 clinical trial of NTLA-2002 in patients with HAE. In June, Intellia announced that across all 10 patients dosed in the Phase 1, a 95% mean reduction in monthly attack rate was observed after a single dose of NTLA-2002 through the latest follow-up. The median duration of follow-up was 9.0 months. At all three dose levels evaluated, NTLA-2002 has been well tolerated, and the majority of adverse events were mild in severity.
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| ERJ | Hot Stocks08:39 EDT Embraer, Sky High Aviation extend Pool Program agreement - Embraer announced that it has signed a multi-year contract extension with Sky High Aviation for the Pool Program. With this agreement, the airline based in the Dominican Republic will continue to receive support for a wide range of repairable components for five E-190 and two E-175. The company has been supporting Sky High Aviation since last year when the airline became the first E-Jet operator in the Caribbean. Currently, Embraer's Pool Program supports more than 60 airlines worldwide.
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| ANIX | Hot Stocks08:38 EDT Anixa Biosciences completes first patient cohort in ovarian cancer CAR-T trial - Anixa Biosciences announced that, in partnership with Moffitt Cancer Center, it has completed treatment of the first patient cohort in the ongoing clinical trial of Anixa's novel chimeric antigen receptor T-cell therapy for ovarian cancer. All three patients in the first cohort received the same dose of engineered T-cells, with no dose-limiting toxicities observed. Following the requisite wait time after the last patient was dosed, a comprehensive review of the safety data from this cohort, and confirmation that it is safe to escalate, the trial will begin enrolling patients in the second dose cohort immediately. Patients enrolled in this second cohort will receive three times the cell dose compared to the first cohort. Dr. Amit Kumar, Chairman and CEO of Anixa Biosciences, stated, "We are pleased with the positive safety data from the first cohort and look forward to advancing to the next higher dose cohort. We hope to continue observing good safety results as we continue to increase dosage, and eventually objective efficacy data."
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| TRVI | Hot Stocks08:35 EDT Trevi Therapeutics announces 52-week results from Phase 2b/3 PRISM study - Trevi Therapeutics announced the 52-week results from its phase 2b/3 PRISM open-label extension study of Haduvio for the treatment of prurigo nodularis. The data was presented by Professor Elke Weisshaar on October 13th at the European Academy of Dermatology & Venereology Congress 2023 in Berlin, Germany. "We are pleased with the results from our preliminary analyses of our OLE data supporting the safety profile of nalbuphine ER up to 52 weeks which were presented at EADV today," said Jennifer Good, President and CEO of Trevi Therapeutics. "The long-term data also supports the continued effectiveness of Haduvio in reducing itch over 52 weeks for the participants who remained in the study. We are preparing for an end of phase 2 meeting with the FDA to discuss next steps in development for this program." 151 subjects completed the open-label extension, adding to the safety database for Haduvio. The safety data were generally consistent with the safety profile of Haduvio observed in the 14-week portion of PRISM and previous trials of Haduvio. Adverse events reported with a frequency greater than 5% in the 38-week open-label period included nausea, dizziness, vomiting, fatigue, and somnolence. Study discontinuation due to adverse events occurred in 13% of subjects during the open-label period, and serious adverse events were reported for 13 subjects, although only 2 of these events were considered potentially treatment related.
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| NKTR | Hot Stocks08:33 EDT Nektar presents new responder data for rezpegaldesleukin - Nektar Therapeutics announced new data for rezpegaldesleukin, a first-in-class selective regulatory T-cell therapy, in patients with atopic dermatitis at the 2023 European Academy of Dermatology and Venereology Congress. These data were presented by Dr. Jonathan Silverberg, Professor of Dermatology at The George Washington University School of Medicine and Health Sciences and Director of Clinical Research and Contact Dermatitis in a late-breaking oral presentation. "Data from this presentation demonstrate consistent benefit with REZPEG across multiple clinician and patient-reported outcomes, which were maintained through 36 weeks after treatment ended," said Dr. Jonathan Silverberg. "The sustained post-treatment benefit observed with REZPEG has the potential to alter the need for frequent maintenance dosing for patients with atopic dermatitis. Together with the observed safety profile, these promising results potentially open the door for a new therapeutic class." In the Phase 1b study, patients with moderate-to-severe AD that were treated with REZPEG showed dose-dependent improvements in Eczema Area and Severity Index (EASI), Validated Investigator Global Assessment, Body Surface Area, and Itch Numeric Rating Scale over 12 weeks of treatment compared to placebo, which were sustained post-treatment over an additional 36 weeks. At the highest studied dose, the proportion of Daily Life Quality Index responders was 75% and the proportion of Patient Oriented Eczema Measure responders was 65% at week 12. The proportion of responders were generally sustained after treatment ended through the 36-week follow-up. This durability highlights REZPEG's disease remittive potential. REZPEG was well tolerated with no patients in the REZPEG groups experiencing severe, serious, or fatal adverse events, and no anti-REZPEG antibodies were detected. Pharmacodynamic data observed in the Phase 1b study corroborate the clinical efficacy signal observed in patients. Compared with placebo, there were sustained increases in absolute numbers of circulating total and CD25bright Tregs in the REZPEG treatment arms. The peak increase in CD25bright Treg number was 10-fold above baseline in the 24 microgram/kg group. Based on these data, the company is initiating two Phase 2 studies in atopic dermatitis and in alopecia areata. These trials are expected to initiate in October of this year and in early 2024, respectively. The trial design for the study in patients with moderate-to-severe atopic dermatitis was presented in an ePoster at EADV earlier this week.
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| GPAK | Hot Stocks08:33 EDT Gamer Pakistan subsidiary announces first major sponsorship from 313 Mobiles - Gamer Pakistan announced subsidiary K2 Gamer received its first major sponsorship from 313 Mobiles Company Kot Adu, Multan, a leading mobile phone retailer in Pakistan, for the Super Mega Pakistan Universities Esports Championship 2023 taking place October to December, 2023 at conferences across Pakistan. The championship is scheduled to take place from October to December 2023 across Pakistan in four zones: East, West, North, and South, each with four conferences, totaling 16 conferences. "We are grateful to 313 Mobiles for sponsoring K2 Gamer's Super Mega Pakistan Universities Esports Championship 2023," said Muhammad Jamal Qureshi, CEO of K2 Gamer, a subsidiary of Gamer Pakistan. "This championship is a significant step toward recognizing the potential of esports in Pakistan. It's not just about gaming, it's about fostering talent, providing opportunities, and promoting a healthy esports ecosystem and competitive spirit among the youth of Pakistan. Esports has gained global recognition, and its official acknowledgment by the Ministry of Science and Technology in 2020 underlines its importance in skill development and career opportunities. Promoting esports can lead to international recognition for Pakistan, potentially attracting international tournaments and drawing global attention to the nation's gaming talent. We believe this championship will usher in a new era of competition and recognition for the 36.8 million gamers in Pakistan."
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| GOOD | Hot Stocks08:32 EDT Gladstone Commercial acquires PA industrial facility for $7.8M - Gladstone Commercial has acquired a 70,000 square foot industrial manufacturing facility in Allentown, Pennsylvania, for a total purchase price of $7.8 million at a weighted GAAP capitalization rate of 9.2%. The property was acquired in a long-term sale-leaseback transaction with a 20-year absolute NNN lease. The property is 100% leased to Alleguard, a manufacturer and distributor of custom EPS, EPP and ARCEL foam products. The company serves packaging, appliance, building products, cold chain, automotive, consumer and other general industrial end-markets. The acquisition is consistent with Gladstone Commercial's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets.
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| DENN EAT | Hot Stocks08:31 EDT Denny's announces hiring of Patra as CDTO - Denny's (DENN) announced the hiring of Pankaj Patra as Chief Digital and Technology Officer, CDTO. This is a newly created enterprise role that will include support for Denny's and Keke's. Patra will be responsible for accelerating the company's capabilities across all specialties within the Digital, Technology and Information functions. Patra comes to Denny's from Brinker International (EAT), where he served as Senior Vice President and Chief Information Officer, responsible for overseeing information technology and data security for the company and its restaurants brands.
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| WFRD | Hot Stocks08:31 EDT Weatherford intends to redeem $50M principal amount of senior notes - Weatherford International issued a notice of redemption to redeem $50,000,000 aggregate principal amount outstanding of its 6.50% Senior Notes due 2028 on October 23, 2023 at a redemption price of 103.00% of the principal amount, plus accrued and unpaid interest to, but excluding, the Redemption Date.
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| PFIN | Hot Stocks08:31 EDT P&F Industries to be acquired by ShoreView Industries for $13.00 per share - P&F Industries announced that it has entered into a definitive agreement to be acquired by ShoreView Industries in an all-cash transaction for $13.00 per share. The purchase price represents an approximately 97% premium to the closing stock price of the company's stock on October 12, 2023, the last trading day prior to announcing the transaction. The proposed transaction has been unanimously approved by the P&F Board of Directors at the recommendation of a Special Committee of independent directors. ShoreView intends to fund the transaction with a combination of cash from ShoreView Capital Partners IV, LP and committed financing, which is not subject to any contingency. The transaction is expected to close in the fourth quarter of 2023, subject to approval by holders of a majority of the shares not owned by Mr. Horowitz, consent of one of the company's significant customers and other customary closing conditions. There can be no assurance that all of the approvals and consents will be obtained. Following completion of the transaction, P&F will become a wholly owned subsidiary of ShoreView and P&F's common stock will no longer be listed on any public market. Horowitz, representing 45.2% of the company's outstanding shares, has entered into an agreement pursuant to which he has agreed to vote in favor of the transaction.
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| PFIN | Hot Stocks08:30 EDT P&F Industries to be acquired by ShoreView Industries for $13.00 per share
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| PFIN | Hot Stocks08:27 EDT P&F Industries trading halted, news pending
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| MEOH | Hot Stocks08:17 EDT Methanex signs two-year natural gas agreement with Trinidad and Tobago NGC - Methanex Corporation signed a two-year natural gas agreement with the National Gas Company of Trinidad and Tobago for its currently idled, wholly owned, Titan methanol plant to restart operations in September 2024. Simultaneously, the Company announced its intention to idle the Atlas methanol plant in September 2024, when its legacy 20-year natural gas agreement expires.
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| GV | Hot Stocks08:12 EDT Visionary Education enters memorandum with an Asian senior college - Visionary Education Technology Holdings started to accept senior international students on October 10, 2023. "We are entering a memorandum with an Asian senior college for international education," said Charlie Penn, the current COO, "GV is looking into accepting a thousand-level students from this institution who owns total 5,000 senior apartments to accommodate up to 10,000 students locally. These adult students are active to participate a variety of education programs of learning and touring at the same time." Charlie Penn continued, "the trending of senior education in Asian countries is building up a billion dollars market, among them, GV's Toronto Academy is obviously the primary choice of stay in Canada."
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| TGL | Hot Stocks08:10 EDT Treasure Global announces it has launched it ZCITY App Merchant AI Engine - Treasure Global announced that it has launched its ZCITY App Merchant Artificial Intelligence Engine for its proprietary app, ZCITY, that will tailor highly personalized eVoucher deals for users. Collaborating with Boost, the regional full spectrum fintech arm of Axiata, Treasure Global will leverage the fintech's extensive network of over 600,000 diverse merchants spanning various industries. This will support ZCITY's user base growth significantly and expand its brand presence in the region while generating anticipated revenue growth. The AI engine will redefine ZCITY's offering of eVoucher deals, by creating and deploying "Super Deals" eVouchers directly within the ZCITY App within the ZCITY user community. The Company expects introduction of the ZCITY App Merchant AI Engine and its collaboration with Boost to be a key revenue driver for Treasure Global Inc. Finally, the synergy between ZCITY's users and merchants presents an additional avenue for revenue generation. Sam Teo, Chief Executive Officer of Treasure Global Inc, commented, "What sets the ZCITY Merchant AI Engine apart is, not only its ability to reduce inefficiencies of traditional pre-paid vouchers, but its capacity to generate invaluable data-driven insights. This data-driven approach promises to bridge the longstanding data gap within the industry, providing an effective, performance-based solution that delivers unprecedented value to both users and merchants. We believe this solution will serve as a key revenue driver for the Company. TGL remains committed to pushing the boundaries of technological innovation, empowering both users and merchants, while fostering financial inclusion and efficiency within the digital realm."
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| ALPMY | Hot Stocks08:08 EDT Astellas Pharma receives positive CHMP opinion for VEOZA - Astellas Pharma announced the Committee for Medicinal Products for Human Use of the European Medicines Agency on October 12 adopted a positive opinion relating to the use of VEOZA 45 mg once daily for the treatment of moderate to severe vasomotor symptoms associated with menopause. VMS, also known as hot flashes and/or night sweats, are common symptoms of menopause. Astellas has already reflected the impact from this result in its financial forecast of the current fiscal year ending March 31, 2024.
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| ARDX KYKOF | Hot Stocks08:07 EDT Ardelyx to present updates for XPHOZAH at Kidney Week 2023 - Ardelyx (ARDX) announced upcoming data presentations for tenapanor for hyperphosphatemia at the American Society of Nephrology, ASN, Kidney Week 2023 meeting to be held in Philadelphia, PA, November 1-5, 2023. XPHOZAH, discovered and developed by Ardelyx, is an investigational first-in-class phosphate absorption inhibitor. Ardelyx will present four poster presentations highlighting data from two trials in patients with hyperphosphatemia on maintenance dialysis in the U.S. Additionally, the company's collaboration partner for tenapanor in Japan, Kyowa Kirin (KYKOF), will present key results from two Phase 3 studies of tenapanor in a similar patient population in Japan.
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| THRN | Hot Stocks08:06 EDT Thorne HealthTech, L Catterton announce expiration of tender offer - L Catterton and Thorne HealthTech announced that the tender offer to purchase all of the issued and outstanding shares of Thorne's common stock for $10.20 per Share, net to the seller in cash, without interest and less any required withholding taxes, expired as scheduled at one minute past 11:59 p.m., Eastern Time, on October 12, 2023 and was not extended. Computershare Trust Company, N.A., the depositary and paying agent for the Offer, has advised L Catterton that, as of the Expiration Time, 52,596,517 Shares were validly tendered and not validly withdrawn in the Offer, representing 97.3% of the issued and outstanding Shares as of the Expiration Time. Accordingly, all conditions to the Offer have been satisfied. L Catterton and its affiliate, Healthspan Merger Sub, will promptly accept for payment, and will promptly pay for, all Shares validly tendered and not validly withdrawn in the Offer. The parties expect to consummate the acquisition on October 16, 2023, in accordance with, and subject to the terms of, the definitive agreement for the proposed acquisition.
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| ARQT | Hot Stocks08:05 EDT Arcutis announces new data from ARRECTOR Phase 3 trial of roflumilast - Arcutis Biotherapeutics announced new data from its pivotal ARRECTOR Phase 3 trial of roflumilast foam 0.3% for the treatment of adults and adolescents with scalp and body psoriasis. The results, including new patient-reported outcome data, were presented at the EADV Congress held October 11-14, 2023, in Berlin. New data presented in Berlin demonstrate improvements in both scalp and body itch. Two thirds of roflumilast-treated patients achieved a clinically significant reduction in itch compared to 30.3% of vehicle-treated patients at Week 8 as measured by a four-point change from baseline in SI-NRS. Importantly, a rapid and significant improvement in scalp itch was observed 24 hours following first application as measured by SI-NRS. In addition, improvement in body itch as measured by the Worst Itch Numeric Rating Scale was also observed at Week 8, with 63.1% of those treated with roflumilast foam achieving a WI-NRS 4-pt response compared to 30.1% of those treated with vehicle. At Week 8, a statistically significantly greater percentage of patients achieved an aggregate PSD score of 0 for scaling, itch, and pain, with 19.6% of patients treated with roflumilast foam reporting no scaling, itch, or pain compared to 7.1% of those treated with vehicle. Regarding severity of scaling, 41.5% of roflumilast-treated patients achieved a PSD score of 0 vs. 13.6% of vehicle-treated patients. For severity of itch, 31.7% of roflumilast-treated patients achieved a PSD score of 0 vs. 10.0% of vehicle-treated patients. Similarly, regarding severity of pain, 64.9% of individuals treated with roflumilast foam achieved a PSD score of 0 compared to 40.3% of individuals treated with vehicle. As previously reported, ARRECTOR met both co-primary endpoints of Scalp-Investigator Global Assessment Success and Body-Investigator Global Assessment Success at Week 8 and all secondary endpoints. Roflumilast foam 0.3% was well tolerated. The incidence of Treatment Emergent Adverse Events was low and generally similar between active treatment and vehicle, with most TEAEs assessed as mild to moderate severity.
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| DIS | Hot Stocks08:04 EDT Disney to join TikTok 'Pulse Premiere' as 'one of largest publishers' in program - TikTok stated in a press release: "Beginning on October 16 in honor of The Walt Disney Company's 100th anniversary, we're giving the passionate community of Disney enthusiasts on our platform a first-of-its-kind destination within TikTok that invites Disney fans to a unique interactive experience where stories, magic, and memories come together... With more than 48 Disney handles participating, the four-week activation will be live in 24 regions around the globe... To help brands stay on the pulse of the most impactful moments on the platform, we are excited to announce that in addition to launch of the Disney100 hub, Disney will become a TikTok Pulse Premiere publisher, allowing advertisers to deliver ads adjacent to some of the most premium entertainment and sports content in the world only from Disney on TikTok's For You feed." Reference Link
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| CPRX | Hot Stocks08:04 EDT Catalyst announces FDA acceptance of sNDA for FIRDAPSE - Catalyst Pharmaceuticals announced that the U.S. Food and Drug Administration has accepted for review the Company's supplemental New Drug Application to increase the indicated maximum daily dosage of FIRDAPSE Tablets 10 mg from 80mg to 100mg for the treatment of Lambert-Eaton myasthenic syndrome. The Agency assigned a Prescription Drug User Fee Act action date of June 4, 2024. FIRDAPSE is currently approved in the U.S. for the treatment of LEMS for adults and for children ages six to seventeen.
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| INMD | Hot Stocks08:04 EDT InMode files patent infringement suit against BTL Industries - InMode announced that it filed a patent infringement complaint in the United States District Court for the Central District of California alleging that BTL Industries' UltraFemme 360 and EmFemme 360 non-invasive, radio-frequency based feminine rejuvenation products infringe U.S. Patent No. 8,961,511.
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| DXR | Hot Stocks08:03 EDT Daxor announces expert recomendations on use of blood volume analysis - Daxor Corporation announces that experts recommend the use of blood volume analysis to guide optimal treatment in heart failure patient at two Scientific Sessions held during the Heart Failure Society of America Annual Scientific Meeting on October 8th & 9th, 2023, at the Huntington Convention Center in Cleveland, OH. Highlights from the sessions included: Expert panelists from Duke Clinical Health, the Mayo Clinic, and Medstar Hospital system all presented case studies and peer-reviewed data showing BVA to be an essential diagnostic tool for their practice. BVA was identified as a unique tool to determine intravascular volume profiles, guiding the most appropriate individualized patient management. Implementing BVA led to improved patient outcomes, decreases in hospital length of stay, and provided positive return on investment for panelists sharing their clinical experience. Daxor's technology was also featured in an expert panel on Innovative Devices for Heart Failure Management highlighting the added benefit that it is now available and cleared for use by FDA Historically, clinicians have made care decisions based on proxy pressure-based hemodynamics assessments, but data show pressure is often a poor proxy for volume, and optimal volume care is the cornerstone of effective heart failure congestion care. The first session, titled, "Managing Congestion: Targeting Pressure vs. Volume," was co-moderated by Dr. Arvind Bhimaraj, Houston Methodist DeBakey Heart and Vascular and Dr. Marat Fudim, Duke University Health. Panel members including Dr. Wayne Miller, Mayo Clinic, Dr. Brian Howard, Wellstar, and Stephanie Barnes, CHFN, Duke University Hospital all called for the routine use of BVA to improve heart failure care. Dr. Miller stated, "If you don't measure, you don't know volume." Dr. Miller also highlighted the importance of knowing the red blood cell volume to optimize fluid management which is a key metric of Daxor's BVA diagnostic blood test. Clinical use of blood volume analysis was highlighted through patient case studies presented by Dr. Howard and Stephanie Barnes. Dr. Howard conveyed, "BVA is appropriate for both inpatient and outpatient use when volume status is unclear, the patient has worsening renal function, to improve heart failure outcomes, and when you need more information than what physical exam or labs provide." Stephanie Barnes added, "Implementing BVA improves patient outcomes, decreases hospital length of stay, and is a wonderful return on investment." The second session, titled, "Device Innovation to Manage Congestion in Heart Failure," discussed the latest methods to recognize and treat congestion in heart failure. Panel member Dr. Maria Rosa Constanzo, Midwest Cardiovascular Institute, stated, "assessment of congestion is complex," and stressed the importance of monitoring congestion early before hospitalization. Dr. Costanzo added, "BVA is helpful and gives you total blood, red blood cell, plasma volume so you can phenotype the patient's volume status in a more precise way."
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| SKT | Hot Stocks08:03 EDT Tanger Factory raises annual dividend 6.1% to $1.04 from 98c per share - Tanger Outlets announced that its Board of Directors approved a 6.1% increase in the dividend on its common shares from 98c to $1.04 per share on an annualized basis. Simultaneously, the Board of Directors declared a quarterly cash dividend of 26c per share, payable on November 15 to common shareholders of record on October 31.
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| RSTGF APO | Hot Stocks08:02 EDT Apollo offers 65 pence in cash per share for Restaurant Group - The boards of directors of Rock BidCo Limited, a special purpose vehicle indirectly owned by the Apollo Funds, managed by affiliates of Apollo Global Management (APO), and The Restaurant Group plc (RSTGF) announce that they have reached agreement on the terms and conditions of a recommended all cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of TRG. It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the 2006 Act. Under the terms of the acquisition, each TRG shareholder will be entitled to receive for each Scheme Share held 65 pence in cash. Reference Link
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| HRMY | Hot Stocks08:01 EDT Harmony Biosciences announces topline results from the INTUNE study - Harmony Biosciences announced topline results from the INTUNE study in patients with idiopathic hypersomnia. Kumar Budur, M.D., Chief Medical Officer at Harmony Biosciences said, "We are very encouraged by the magnitude of the response seen in the initial open-label treatment period, where 83% of patients completing this phase responded with an average 9.4 point improvement in the Epworth Sleepiness Scale. Equally encouraging is the number of patients, almost 90%, electing to continue into the long-term extension study, allowing us to generate additional safety and efficacy data in this patient population. Positive trends in other important outcomes like sleep inertia add to the totality of evidence that pitolisant has a clinical benefit for patients with IH." The INTUNE study was a Phase 3 placebo-controlled, double-blind, randomized withdrawal study. Approximately 83% of patients who completed the 8-week open-label treatment period with pitolisant were responders and experienced a robust clinical response, with an average ESS change from baseline of - 9.4 points. A positive trend favoring pitolisant was observed during the 4-week double-blind randomized withdrawal period, however no statistically significant difference was observed between pitolisant and placebo groups on ESS, the primary endpoint. Positive trends favoring pitolisant were also observed across additional prespecified endpoints including the IHSS, which approached statistical significance, as well as on the SlQ. Further data analyses are being conducted. Approximately 88% of patients in the study continued into a 12-month long-term extension study, which is ongoing. The safety and tolerability profile of pitolisant in adult patients with idiopathic hypersomnia was consistent with the established safety profile and no new safety signals were observed.
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| MRK | Hot Stocks07:50 EDT Merck adopts opinion recommending approval of Keytruda - Merck announced that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, adopted an opinion recommending approval of Keytruda, Merck's anti-PD-1 therapy, in combination with fluoropyrimidine- and platinum-containing chemotherapy, for the first-line treatment of locally advanced unresectable or metastatic HER2-negative gastric or gastroesophageal junction adenocarcinoma in adults whose tumors express PD-L1.
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| AMLX | Hot Stocks07:47 EDT Amylyx announces CHMP opinion on AMX0035 MAA - Amylyx announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, or EMA, confirmed its initial negative opinion on the Marketing Authorization Application, or MAA, for AMX0035, under the trade name Albrioza, for the treatment of amyotrophic lateral sclerosis, or ALS, in the European Union, or EU. The decision follows the conclusion of the CHMP's formal re-examination procedure of an initial negative opinion adopted in June.
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| STKL | Hot Stocks07:37 EDT Nature's Touch acquires certain assets of SunOpta's Sunrise Growers - Nature's Touch announces the successful acquisition of certain assets of Sunrise Growers, SunOpta's frozen fruit operations. This strategic move marks a significant milestone in Nature's Touch's commitment to providing high-quality, affordable, and diverse frozen food products to consumers across Canada and the United States.
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| PFTA | Hot Stocks07:35 EDT Portage Fintech Acquisition announces name change to Perception Capital Corp. - Portage Fintech Acquisition announced a corporate name change to Perception Capital Corp. III, to better reflect Perception Capital Partners III-A LLC as the Company's new managing sponsor. Perception Capital Partners III-A LLC is affiliated with Perception Capital Partners, a private and public investment firm and serial sponsor of special purpose acquisition companies. The Company's ordinary shares will continue to trade on The Nasdaq Capital Market under its ticker symbols: PFTA, PFTAW and PFTAU. "We are very pleased with this outcome," said Rick Gaenzle, the Company's new Chief Executive Officer. "We continue to believe the SPAC product offers unique advantages for companies seeking a public markets presence. As the excess supply has exited with nearly 300 SPACs liquidating since 2022, we believe that public markets are returning to equilibrium, and believe there is growing interest from target companies in once again exploring deSPAC transactions."
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| ORN | Hot Stocks07:34 EDT Orion Group secures contract award valued over $100M - Orion Group Holdings announced a significant contract award valued at over $100 million for its Marine and Engineering business. The contract was awarded by Grand Bahama Shipyard Limited for the turnkey design-build of the Grand Bahama Shipyard Dry Dock Replacement Project, situated in Grand Bahama, Bahamas. In addition, the Company was recently awarded new contracts in both its Concrete and Marine segments for a combined total of $121 million. Orion Group Holdings won the Grand Bahama Shipyard Dry Dock award through a competitive bid/negotiation process based on demonstrating its multiple core skill competencies. The scope of work includes marine works and infrastructure construction, dredging, creating new mooring facilities, and providing enhancements to shore stability. In addition, Orion will modify and extend service piers for the installation of two cutting-edge floating dry docks, which are among the largest in the western hemisphere. The project is set to commence immediately and will conclude in late 2025. Orion will be working with Bahamian subcontractors on the project.
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| BWMN | Hot Stocks07:34 EDT Bowman Consulting acquires Dennis Corporation, sees accretion - Bowman Consulting announced the acquisition of Dennis Corporation, a civil engineering, surveying and construction management firm headquartered in Columbia, South Carolina. Supporting public and private sector clients, Dennis specializes in delivering general civil infrastructure planning and design; program and construction management and oversight; environmental and geotechnical services for traffic and transportation; intelligent transportation systems, aviation, water resources and public sector facilities. Financed with a combination of cash, seller notes and equity, the acquisition falls within previously discussed target multiple and operating metric ranges and is expected to be immediately accretive. The company anticipates the acquisition will initially operate at an annualized net service billing run rate of approximately $4.5M.
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| THTX | Hot Stocks07:33 EDT Theratechnologies presents data at ID Week on tesamorelin - Theratechnologies presented data in a poster session at ID Week 2023 in Boston, Mass., demonstrating that treatment with tesamorelin significantly reduced visceral adipose tissue, VAT, and hepatic fat fraction in people with HIV treated with integrase inhibitor, INSTI, based regimens. In the retrospective sub-analysis, tesamorelin reduced VAT by 8.3% after 12 months of treatment, compared to a 10.8% increase in VAT among placebo-treated patients treated with INSTIs. While anthropometric measurements at baseline did not differ between the two groups, VAT increased in the placebo group even in the absence of significant weight or BMI changes. Furthermore, the tesamorelin group experienced a 31% relative reduction in HFF compared to a 0% reduction for the placebo group at 12 months. "As we learn more about the mechanisms of rapid weight gain and, in particular, visceral fat accumulation in people with HIV who are on integrase inhibitors, potential treatment strategies will become more important," commented Christian Marsolais, Ph.D., Senior Vice President and Chief Medical Officer of Theratechnologies. "Tesamorelin remains the only FDA-approved therapy to treat excess abdominal fat in adults with HIV, and these data are yet another key piece in highlighting its efficacy in modern HIV management."
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| MRMD | Hot Stocks07:32 EDT Marimed's Nature's Heritage launches small batch exclusives - MariMed and its Nature's Heritage craft flower and concentrates brand announced "Small Batch Exclusives," a unique, limited-time program that gives customers the opportunity to purchase legendary flower strains. Beginning today and continuing into November, 11 high quality strains that are well-loved by experienced cannabis consumers will periodically drop exclusively at MariMed's Panacea Wellness dispensaries in Massachusetts. They will be offered in extremely limited quantities of just one to two pounds each and only while supplies last. Customers who purchase six strains will receive a free 3.5-gram jar featuring a mystery strain. Small Batch Exclusives is a lead-in to Green Wednesday, November 22, one of the biggest days of the year for cannabis sales and celebrations.
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| PNC | Hot Stocks07:19 EDT PNC Financial begins implementing workforce reduction - PNC conducted an enterprise-wide review of the organizational structure to position the company for growth. On October 6, 2023, PNC began implementing a workforce reduction: 4% headcount reduction; Personnel expense reduction of $325 million in 2024; One-time charge of $150 million in 4Q23.
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| PNC | Hot Stocks07:16 EDT PNC Financial sees Q4 NII down 1%-2% vs. Q3 - Sees Q4: Average loans up about 3%; Fee income up about 1%; Other noninterest income $150M-$200M; Core noninterest expense up 3%-4%; Net charge offs $200M-$250M. All Q4 guidance vs. Q3. Comments taken from investor presentation slides for Q3 earnings conference call.
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| FTRE EXPO | Hot Stocks07:04 EDT Fortrea Holdings appoints Doyle as President of Consulting - Fortrea (FTRE) announced the appointment of John Doyle Dr.P.H., as its new President of Consulting. Doyle will serve on Fortrea's leadership team and lead a team of consultants and advisors with expertise that spans early development through lifecycle management. Dr. Doyle joins Fortrea from Exponent (EXPO), a scientific and engineering consulting firm based in Silicon Valley, where he led the company's Health Sciences business.
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| WFC | Hot Stocks07:04 EDT Wells Fargo sees FY23 NII 16% higher than FY22's $45B - 2023 net interest income is expected to be ~16% higher than the full year 2022 level of $45B, up from prior guidance of ~14% higher, with 4Q23 expected to be ~$12.7B, Wells Fargo said in presentation slides ahead of its Q3 earnings conference call. 2023 noninterest expense excluding operating losses is expected to be ~$51.5B, up from prior guidance of ~$51B, with 4Q23 expected to be ~$12.6B.
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| XEL | Hot Stocks07:03 EDT Xcel Energy, Heartland Hydrogen Hub selected for up to $925M federal award - The U.S. Department of Energy has selected the Heartland Hydrogen Hub, including multiple clean hydrogen projects from Xcel Energy, for award negotiations to receive up to $925M. The award will serve as a catalyst for a future hydrogen ecosystem in the Upper Midwest. The Heartland Hydrogen Hub, or HH2H, is one of seven selected to receive funding. The hub includes Xcel Energy, Marathon Petroleum Corporation and TC Energy, in collaboration with the University of North Dakota's Energy & Environmental Resource Center, to produce and use low-carbon hydrogen at commercial scale in Minnesota, Wisconsin, South Dakota, North Dakota and Montana. The hub aims to reduce carbon emissions by more than 1M metric tons per year, the equivalent of taking 220,000 gasoline-powered cars off the road.
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| THTX | Hot Stocks07:02 EDT Theratechnologies announces results from trogarzo intramuscular study - Theratechnologies announced from a study evaluating an intramuscular method of administration for Trogarzo, a monoclonal antibody antiretroviral therapy, ART, for the treatment of heavily treatment-experienced adults with multidrug-resistant, MDR, HIV-1 infection failing their current antiretroviral regimen. The TMB-302 study, conducted in partnership with TaiMed Biologics, enrolled 21 subjects to assess the pharmacokinetics, efficacy, and safety of IM administration of Trogarzo as compared to intravenous infusion. Mean Trogarzo trough concentrations were greater than 15 microgram/mL, suggesting that IM injection was sufficient at maintaining the drug trough concentration above the therapeutic level of 0.3 microgram/mL. The mean trough concentrations were comparable between IV infusion and IM injection in HIV-positive subjects. However, the primary endpoint measuring a 90% confidence interval of the ratio of IM injection to IV infusion, did not meet the equivalence limits. Viral suppression, a key secondary clinical endpoint, was maintained in all HIV-positive subjects throughout the IM phase and the overall study. Each study subject received IM maintenance doses for eight weeks of treatment and a total of 152 IM injections were administered, which were well tolerated. One subject reported injection-site pruritus at a single time point, and no subjects reported injection-site pain when Trogarzo was administered intramuscularly. With the TMB-302 data in hand, Theratechnologies is seeking expert advice prior to completing a regulatory submission of the Trogarzo IM administration maintenance dose to the U.S. Food and Drug Administration.
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| FTLF | Hot Stocks07:02 EDT FitLife Brands closes acquisition of substantiall all MusclePharm assets - FitLife Brands announced that on October 10, 2023, it successfully closed the acquisition of substantially all of the assets of MusclePharm Corporation as previously approved by the US Bankruptcy Court for the District of Nevada. Through the asset purchase transaction under Section 363 of the US Bankruptcy Code, the Company acquired substantially all of the assets and assumed none of the liabilities of MusclePharm other than de minimus cure costs relating to certain assumed contracts. Total consideration for the acquisition was approximately $18.5 million cash. Of this amount, $10.0 million was funded using proceeds from a new term loan provided by First Citizens Bank, with the remainder funded from FitLife's available cash balances.
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| WFC | Hot Stocks07:02 EDT Wells Fargo reports Q3 efficiency ratio 63%, NIM 3.03% - Reports Q3 ROE 13.3%, ROA 1.21%. Reports Q3 net charge-offs $864M.
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| AES | Hot Stocks07:02 EDT AES Corp. receives funding from U.S. Department of Energy - The AES Corporation announced that it is part of two Regional Clean Hydrogen Hubs receiving funding from the U.S. Department of Energy. The two selections stand to receive up to $2.4B of grant funding allocated by the Bipartisan Infrastructure Law to develop Clean Hydrogen Hubs across the country. AES is part of two of the awarded hubs: the Alliance for Renewable Clean Hydrogen Energy Systems Hub in California, which was allocated up to $1.2B, and the HyVelocity Hub in the Gulf Coast of Texas and Louisiana, which was allocated up to $1.2B. Through these Hubs, AES expects to secure funding for new green hydrogen projects which it will own and operate in those regions, along with associated renewables.
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| TLSA | Hot Stocks07:01 EDT Tiziana Life Sciences announces six-month PET scan results with foralumab - Tiziana Life Sciences announced that a reduction in activated microglia, as seen in six-month Positron Emission Tomography, PET, scans, has now been observed in a total of five of the six patients with non-active secondary-progressive multiple sclerosis, na-SPMS, treated with intranasal foralumab in its Expanded Access Program. Activated microglia are believed to play a prominent role in the pathogenesis of neuroinflammatory and neurodegenerative diseases including multiple sclerosis, Alzheimer's disease, and amyotrophic lateral sclerosis, or ALS. Gabriele Cerrone, Chairman, acting CEO and founder of Tiziana Life Sciences commented, "I believe that the six-month qualitative na-SPMS PET readout by Dr. Singhal is very encouraging and will enable us to rapidly advance foralumab in Phase 2a testing to address patients afflicted with this devasting disease who currently have no FDA-approved treatments available."
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| USAP | Hot Stocks07:01 EDT Universal Stainless & Alloy announces base price increase on premium products - Universal Stainless & Alloy Products announced a base price increase of 5% to 10% on premium products. The increase goes into effect immediately. Current material and energy surcharges will remain in effect.
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| PSN | Hot Stocks06:55 EDT K2-Parsons team wins $253M DHS contract - A team led by K2 Construction Consultants and including Parsons and Culmen International was awarded a five-year indefinite-delivery, indefinite-quantity contract with a total potential value of approximately $253M by the Department of Homeland Security Countering Weapons of Mass Destruction Office for deployment of technology to detect nuclear and radiological devices entering the United States. The contract is a new, competitively won award by the team. The team will deploy radiation portal monitors for the Radiation Portal Monitor Program, which ensures first responders' ability to recognize, interdict, and disrupt the movement of radiological and nuclear materials through the United States' borders. Units will be deployed across the U.S.-Mexico and U.S.-Canada borders, as well as in major airports, seaports, and global postal facilities.
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| JPM | Hot Stocks06:51 EDT JPMorgan reports Q3 credit costs $1.4B - Q3 credit costs of $1.4B included $1.5B of net charge-offs and a $113M net reserve release. Average loans up 17%; average deposits down 4%.
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| JPM | Hot Stocks06:50 EDT JPMorgan reports Q3 ROE 18%, ROTCE 22%
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| JPM | Hot Stocks06:49 EDT JPMorgan CEO: The Firm delivered another quarter of solid results - Jamie Dimon, Chairman and CEO, commented on the quarter: "The Firm delivered another quarter of solid results, generating net income of $13.2 billion and an ROTCE of 22%-although, we acknowledge that these results benefit from our over-earning on both net interest income and below normal credit costs, both of which will normalize over time. Our CET1 capital ratio rose even further to 14.3%. Our total loss-absorbing capacity (equity plus long-term debt) is a formidable $496 billion, while loans, which are our riskiest assets, are at $1.3 trillion. Our liquidity is extraordinarily high with cash and marketable securities of $1.4 trillion. Looking ahead to Basel III finalization, we intend to adapt and manage to the new rules very quickly as we have shown in the past. However, we caution that such material regulatory changes would likely have real world consequences for markets and end users." Dimon continued: "Our lines of business saw continued momentum in the quarter, demonstrating the power of our years of investment and the value of our consistency and fortress principles. Across the Firm, we continued to add a sizable number of new clients and deepen relationships. In CCB, we again ranked #1 in U.S. retail deposits based on the most recent FDIC data, and we extended our leadership position as our growth from net new accounts was over 3x that of peers. In CIB, we maintained our #1 Dealogic rank and gained IB market share YTD. In CB, Payments revenue remained strong and was up 30%. And AWM saw AUM net inflows of $60 billion. Finally, we extended credit and raised $1.7 trillion in capital for businesses, governments, and U.S. consumers year to date." Dimon concluded: "Currently, U.S. consumers and businesses generally remain healthy, although, consumers are spending down their excess cash buffers. However, persistently tight labor markets as well as extremely high government debt levels with the largest peacetime fiscal deficits ever are increasing the risks that inflation remains elevated and that interest rates rise further from here. Additionally, we still do not know the longer-term consequences of quantitative tightening, which reduces liquidity in the system at a time when market-making capabilities are increasingly limited by regulations. Furthermore, the war in Ukraine compounded by last week's attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships. This may be the most dangerous time the world has seen in decades. While we hope for the best, we prepare the Firm for a broad range of outcomes so we can consistently deliver for clients no matter the environment. To conclude, I want to thank our extraordinary employees for all of their hard work in making us one of the most trusted financial institutions in the world."
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| LTH | Hot Stocks06:49 EDT Life Time Group to acquire Arden Hills Athletic & Social Club in Sacramento - Life Time and Arden Hills Athletic & Social Club located in Sacramento, California, announced the closure of Arden Hills as of December 31 and Life Time's acquisition of the property with an early 2024 reopening as Life Time Arden. Details of the transaction were not disclosed. The iconic Arden Hills Athletic & Social Club has served the Sacramento community for nearly 70 years with a diverse array of athletic facilities, sophisticated social amenities and exquisite grounds. Beginning in 2024, Life Time will carry forward the incredible legacy of the property, while welcoming its next chapter of unparalleled programming, service and community. Life Time plans include a phased renovation and transformation of the space with the goal of minimal impact on members. Plans call for updated spaces, equipment across the property, luxurious workout spaces, pools, tennis courts and a future renovation of the spa and the dining areas.
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| NUVL | Hot Stocks06:36 EDT Nuvalent announces updated preliminary data from ALKOVE-1 trial - Nuvalent announced updated preliminary data from the Phase 1 dose-escalation portion of its ongoing ALKOVE-1 Phase 1/2 clinical trial of NVL-655 for patients with advanced ALK-positive non-small cell lung cancer, or NSCLC, and other solid tumors. These data will be presented at the 35th AACR-NCI-EORTC, or ANE, Symposium in Boston, Massachusetts. NVL-655 is a novel brain-penetrant ALK-selective tyrosine kinase inhibitor, or TKI, created with the aim to simultaneously overcome the clinical challenges of emergent treatment resistance, brain metastases, and off-target central nervous system, or CNS, adverse events associated with tropomyosin receptor kinase, or TRK, inhibition that may limit the use of currently available ALK TKIs. As of the enrollment and data cut-off date of August 8 for the preliminary data, 93 patients have been enrolled in the Phase 1 portion of the ALKOVE-1 trial across six evaluated dose levels of NVL-655 ranging from 15 mg once daily to 200 mg QD. Enrollment in the Phase 1 portion of the trial is ongoing. Preliminary activity data as of the cut-off date were available from 51 heavily pre-treated response-evaluable NSCLC patients. The objective response rate, or ORR, by RECIST 1.1 was 39% of patients treated at all doses, of which all were partial responses. In the subset of 41 patients treated at dose levels of 50 mg QD or higher, the ORR was 44%. To evaluate key target characteristics of NVL-655, activity was examined in subgroups of the 51 response-evaluable patients treated at all doses, including: patients with any history of CNS metastases; patients with any ALK resistance mutation, including those with compound ALK mutations and those with ALK G1202R single or compound mutations; the most heavily pre-treated of patients, after receiving greater than or equal to three prior ALK TKIs including at least one 2nd generation ALK TKI plus lorlatinib, and prior chemotherapy and lorlatinib-naive patients who had received at least one 2G +/- 1G ALK TKI. Preliminary pharmacokinetic, or PK, analyses were available for dose levels 15 mg QD to 150 mg QD. Treatment with NVL-655 resulted in exposure above target efficacy thresholds in both the periphery and in the CNS. These preliminary PK data suggest that dose levels of 50 mg QD and above may provide increased coverage of single and compound mutations in the CNS. Preliminary pharmacodynamic analysis showed that NVL-655 induced clearance of diverse ALK resistance mutation alleles across a wide dose range. As of the cut-off date for the preliminary data, 67% of response-evaluable patients remained on treatment with NVL-655 with duration of treatment up to 12 months. All patients with tumor response continued on treatment without disease progression. NVL-655 was well-tolerated with a preliminary safety profile that was favorable and consistent with its ALK-selective, TRK sparing design.
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| LLAP | Hot Stocks06:33 EDT Terran Orbital opens two new advanced PCBA lines in Irvine, CA - Terran Orbital announced the official opening of two new advanced Printed Circuit Board Assembly lines in Irvine, CA. In addition to its two new state-of-the-art PCBA Surface Mount Technology lines, the company also added capabilities for post-SMT processes, fully automated inspection, 3-dimensional X-ray testing, Automated Optical Inspection, and flying probe technologies that give it the complete ability to produce, inspect, and test a broad spectrum of PCBAs in its facility.
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| VTNR | Hot Stocks06:31 EDT Vertex Energy provides Q3 operational update - Reported throughput volumes at the company's Mobile, Alabama Refinery for the third quarter of 2023 are expected to be approximately 80,000 barrels per day, exceeding management's prior expectations of 74,000 bpd to 77,000 bpd. Throughput volumes for the third quarter of 2023 reflect a continued focus on strengthening the company's conventional feedstock procurement program, initiated during the second quarter in response to previously disclosed supply chain risks. Finished fuel products are expected to account for 65% to 67% of total production volumes for the quarter, ahead of the previously forecasted range of 59%-63%, and reflecting the successful implementation of a facility-wide yield optimization initiative introduced early in the second quarter of 2023. Operating expenses per barrel for the third quarter of 2023 are estimated to total between $3.70 to $3.80 per barrel, in-line with prior expectations. Capex is expected to be $21-$23 million, also in-line with prior expectations. Key commodity averages in local markets served by Vertex for the third quarter include CBOB gasoline of $108.50 per barrel, ultra-low sulfur diesel of $124.87 per barrel, Jet fuel of $120.35 per barrel and Louisiana Light, Sweet Crude oil of $84.88 per barrel.
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| BLK | Hot Stocks06:22 EDT BlackRock reports Q3 total net inflows of $3B - In Q3: $3B of quarterly total net inflows reflect $49B of net outflows from lower-fee institutional index equity strategies, including $19B from a single international client. $1.1T increase in AUM year-over-year includes $307B of net inflows, positive across ETFs, active, and cash management.
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| BLK | Hot Stocks06:20 EDT BlackRock reports Q3 AUM $9.1T, up 14% y/y
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| BLK | Hot Stocks06:19 EDT BlackRock CEO: $307B of net inflows over the last twelve months - Laurence Fink, Chairman and CEO: At BlackRock we are more connected with our clients than ever before, and I'm proud that clients have entrusted us with $307 billion of net inflows over the last twelve months, contributing to a $1.1 trillion increase in AUM. For the first time in nearly two decades, clients are earning a real return in cash and can wait for more policy and market certainty before re-risking. This dynamic weighed on industry and BlackRock third quarter flows. We have seen periods of uncertainty like this before - as recently as 2016 and 2018. Then, as now, BlackRock stayed connected with our clients and across our platform. When investors were ready to put money back to work, they came to BlackRock, leading to record flows and share gains. The long-term trend of clients consolidating more of their portfolios with BlackRock is only accelerating, and underlying business momentum remains strong. In the first nine months of 2023, clients turned to BlackRock for solutions across their whole portfolio, driving net inflows of $98 billion in ETFs, $65 billion in active and $46 billion in cash. We're delivering the benefits of scale to our clients and our shareholders, with margin expansion and 14% growth in adjusted EPS year-over-year. Technology services revenue grew 20% over the same time period, reflecting sustained demand for Aladdin and several large eFront renewals - continued affirmation of whole portfolio analytics as the future of asset management technology. We remain intensely focused on staying in front of our clients, positioning for a resurgence in allocation activity as rates stabilize, and laying the foundation for future growth. We see transformative opportunities ahead for our clients, and look forward to delivering differentiated growth for our investors and all of our stakeholders."
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| SQ | Hot Stocks05:56 EDT Block acquires music financial services startup Hifi - Block has acquired Hifi, which launched in 2020 as a financial rights organization for artists and in 2021 rolled out Cash Flow to pay artists a bi-monthly salary. The news was announced by HIFI founder and CEO Damian Manning on LinkedIn. Terms of the deal have not been disclosed. Reference Link
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| MSFT... | Hot Stocks05:40 EDT Microsoft's revised deal to buy Activision approved by U.K.'s CMA - The new deal for Microsoft (MSFT) to buy Activision (ATVI) without cloud gaming rights has been cleared after the CMA concluded it would preserve competitive prices and better services, the CMA said in a statement. In August this year Microsoft made a concession that would see Ubisoft (UBSFY), instead of Microsoft, buy Activision's cloud gaming rights. The CMA said: "The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers. It will allow Ubisoft to offer Activision's content under any business model, including through multigame subscription services. It will also help to ensure that cloud gaming providers will be able to use non-Windows operating systems for Activision content, reducing costs and increasing efficiency." Reference Link
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| SAVA | Hot Stocks05:08 EDT Cassava Sciences issues statement regarding CUNY internal report - Cassava Sciences issued the following statement regarding an internal report purportedly prepared by City University of New York, or CUNY. "This report was leaked to the press. The leak of the CUNY report was preceded by a 40% increase in short selling activity in the stock of Cassava Sciences. Beginning August 2021, short sellers executed a brutal, widely publicized "short-and-distort" campaign against Cassava Sciences. The short-sellers alleged that Cassava Sciences and its academic researcher at CUNY had engaged in data manipulation and other forms of research misconduct. In response to these allegations, CUNY initiated an internal investigation in Fall 2021. In 2022, Cassava Sciences filed a lawsuit against certain individuals who participated in the short-and-distort campaign, identifying over 1,000 false and defamatory statements. On October 12, 2023, Science reported that it had obtained a copy of CUNY's report from "a person who requested anonymity because they are not authorized to share it." The Science article quotes a person paid by a lawyer for certain short-sellers, but does not indicate what role, if any, short-sellers had in the leak. According to Science, CUNY completed its investigation in May 2023. The short interest in Cassava Sciences' stock jumped 40%, to over 14 million shares, between June 30, 2023, and September 29, 2023, according to Nasdaq. CUNY's report makes no findings of data manipulation. Rather, the "egregious misconduct" cited in the report relates exclusively to internal record-keeping failures at CUNY. The report also finds that internal record-keeping failures "prevented us [CUNY] from making an objective assessment" of the allegations of research misconduct."
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