Stockwinners Market Radar for October 25, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
VOXR | Hot Stocks20:39 EDT Vox Royalty enters into intellectual property licensing agreement - Vox Royalty announces that it has entered into an Intellectual Property Licensing Agreement with private investment group, Perpetual Royalty IP Holdings LLC, to potentially unlock value from a non-core subset of royalties within Vox's proprietary global royalty database. Under the IP Licensing Agreement, Vox grants Perpetual RoyaltyCo access to the coal royalties in Vox's proprietary royalty database, providing valuable insights and data for use in Perpetual RoyaltyCo's coal and yield-focused investment strategy. This collaboration has the potential to unlock meaningful latent value for Vox shareholders in a non-dilutive and opportunistic manner through the receipt of transaction-linked cash fees payable to Vox on successful completion of any database-linked coal royalty acquisition by Perpetual RoyaltyCo.
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VERV | Hot Stocks20:04 EDT Cathie Wood's ARK Investment bought 311K shares of Verve Therapeutics today
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STLA | Hot Stocks19:22 EDT Stellantis acquires 20% stake in Leapmotor for about EUR1.5B - Stellantis and Leapmotor announced that Stellantis plans to invest about EUR1.5B to acquire approximately 20% of Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, a 51/49 Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. This will be an industry-first global electric vehicle relationship between a leading automaker and a Chinese pure-play NEV OEM. The partnership aims to further boost Leapmotor's sales in China, the biggest market in the world, while leveraging Stellantis' established global commercial presence to significantly accelerate Leapmotor brand sales in other regions, starting with Europe. Stellantis intends to leverage Leapmotor's highly innovative, cost-efficient EV ecosystem in China to help meet core Dare Forward 2030 electrification targets, with the possibility to further explore mutually beneficial synergies. The joint venture expects to begin shipments in the second half of 2024. "As consolidation unfolds among the capable electric vehicles start-ups in China, it becomes increasingly apparent that a handful of efficient and agile new generation EV players, like Leapmotor, will come to dominate the mainstream segments in China," said Stellantis CEO Carlos Tavares. "We feel it's the perfect time to take a leading role in supporting the global expansion plans of Leapmotor, one of the most impressive new EV players who has a similar tech-first, entrepreneurial mindset to ours. Through this strategic investment, we can address a white space in our business model and benefit from Leapmotor's competitiveness both in China and abroad. I want to thank Mr. Zhu Jiangming and the teams from both sides of our great companies for their leadership and collaboration in creating this new opportunity for both of us."
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ASAN | Hot Stocks18:43 EDT Asana CEO buys $2.16M in common stock - In a regulatory filing, Asana disclosed that its CEO Dustin Moskovitz bought 123.5K shares of common stock on October 23rd in a total transaction size of $2.16M.
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MAT | Hot Stocks18:37 EDT Mattel CEO: Our strategy is serving us very well - In an interview on CNBC's Mad Money, Ynon Kreiz said Q3 was breakout quarter for Mattel's entertainment strategy. He expects a strong holiday season and sees market share gains. "We have been executing our strategy very consistently," he noted. The company is performing well across all categories. He sees demand resonating for the company's brands. "The Barbie movie is a template for how we see the opportunity ahead," he added.
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STBA | Hot Stocks18:02 EDT S&T Bancorp raises quarterly dividend 6.5% to 33c per share - The Board of Directors of S&T Bancorp approved a 33c per share cash dividend on October 25, 2023. This is an increase of 2c, or 6.5%, compared to a cash dividend of $0.31 per share declared in the same period in the prior year. The annualized yield using the October 24, 2023 closing price of $24.99 is 5.3%. The dividend is payable November 24, 2023 to shareholders of record on November 9, 2023.
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TNET | Hot Stocks17:46 EDT TriNet says first half positive trends accelerated into second half - Says "particularly pleased" with strength in new sales. Says "very strong pipeline." Seeing increased optimism in SMB space. Says products, services "resonating in the market." Says investments in technology paying off. Says technology increasing close rates. Says at "early innings" of ability to accelerate sales growth. Comments taken from Q3 earnings conference call.
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AMZN | Hot Stocks17:45 EDT Amazon introduces AI-powered image generation to help advertisers - The Amazon staff blogged in part earlier on wednesday: "...Producing engaging and differentiated creatives can increase cost and often requires introducing additional expertise into the advertising process," said Colleen Aubrey, senior vice president of Amazon Ads Products and Technology...At Amazon Ads, we are always thinking about ways we can reduce friction for our advertisers, provide them with tools that deliver more impact while minimizing effort, and ultimately, deliver a better advertising experience for our customers... To that end, Amazon Ads has launched image generation in beta-a generative AI solution designed to remove creative barriers and enable brands to produce lifestyle imagery that helps improve their ads' performance...In the Amazon Ad Console, advertisers simply select their product and click Generate, with the tool leveraging generative AI to deliver a set of lifestyle and brand-themed images, based on product details, in a matter of seconds." Reference Link
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MS | Hot Stocks17:35 EDT Morgan Stanley says Ted Pick to become CEO on January 1, 2024 - The Board of Directors of Morgan Stanley announced that Co-President Edward (Ted) Pick will become the Firm's CEO, effective January 1, 2024. James Gorman will become Executive Chairman. Pick will also join Morgan Stanley's Board of Directors at that time. The Firm also announced that Co-President Andy Saperstein will become the Head of Wealth and Investment Management, and that Dan Simkowitz will become Co-President of the Firm and the Head of Institutional Securities. Gorman announced at the Firm's 2023 annual general meeting of shareholders his intention to step down as CEO before the 2024 annual general meeting. Edward (Ted) Pick has served as Co-President of Morgan Stanley for the past two years. As Head of the Institutional Securities Group, he oversees Investment Banking, Equities, Fixed Income, Capital Markets and Research. He is also Co-Head of Firm Strategy.
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ALNY | Hot Stocks17:28 EDT Alnylam announces publication of results from Phase 3 study of patisiran - Alnylam announced results from the APOLLO-B Phase 3 study of investigational patisiran in patients with the cardiomyopathy of transthyretin-mediated - ATTR - amyloidosis published online in the New England Journal of Medicine. The data reported in the APOLLO-B Phase 3 study publication demonstrate that patisiran, an RNAi therapeutic targeting transthyretin - TTR -, preserved functional capacity and health status and quality of life compared with placebo at 12 months. In addition, treatment with patisiran demonstrated favorable effects on biomarkers of cardiac stress and injury and on measures of cardiac structure and function. The Phase 3 study achieved its primary endpoint at 12 months, with patisiran demonstrating a significant difference in the change from baseline in functional capacity compared with placebo. The study also met its first secondary endpoint, with patisiran demonstrating a significant difference in the change from baseline in health status and quality of life compared with placebo. For the composite endpoint of all-cause mortality, frequency of cardiovascular events, and change from baseline in 6-MWT over 12 months compared with placebo, the win ratio favored patisiran but did not reach statistical significance. Patisiran demonstrated an encouraging safety and tolerability profile in the APOLLO-B Phase 3 study, including no cardiac safety concerns relative to placebo, through 12 months. The majority of adverse events were mild or moderate in severity.
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NBR | Hot Stocks17:21 EDT Nabors Industries CEO comments on Q4 outlook - Petrello commented, "As we look to Q4, we expect improvements in our financial results, especially in free cash flow. With the international expansion already in hand, and the indications we have seen for growth in the U.S., we are positioned for meaningful improvement in 2024. The momentum we are now generating with our Energy Transition initiatives gives us additional confidence in this positive outlook." Capital expenditures are expected to be $95M for Q4 with $35M for the newbuilds in Saudi Arabia.
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VLTO | Hot Stocks17:19 EDT Veralto to initiate 9c per share dividend - The Company intends to initiate a quarterly cash dividend of $0.09 per common share in arrears commencing following the quarter ending December 31, 2023, subject to approval by its Board of Directors with respect to each such dividend.
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META | Hot Stocks17:17 EDT Meta Platforms says AI will be biggest investment area in 2024 - Says rolling out Meta AI. Says launching AI studio platform. Says happy with results this year so far. Says plans to continue operating efficiently going forward. Says AI will be biggest investment area in 2024. Says deprioritizing a number of non-AI projects across the company. Says has sizable hiring backlog. Says planning to grow headcount on much lower rate going forward but may be faster in 2024 as company works through hiring backlog. Says Reels has driven more that 40% increase in time spent on Instagram. Says more than 30M Llama downloads last month. Says glasses are ideal form factor for AI assistant. Says making progress on software for Metaverse. Comments taken from Q3 earnings conference call.
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MEOH | Hot Stocks17:12 EDT Methanex saw 'improving global market conditions' through Q3 - The company states: "Our average realized price in the third quarter was $303 per tonne compared to $338 per tonne in the second quarter of 2023. Through the third quarter we saw improving global market conditions with stronger demand as well as moderation in global operating rates mainly from various supply outages in North America, the Middle East and Southeast Asia. We expect actual production for 2023 to be slightly above 2023 production guidance of approximately 6.5 million equity tonnes, excluding any production from G3. Actual production may vary by quarter based on timing of turnarounds, gas availability, unplanned outages and unanticipated events."
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AEM | Hot Stocks17:07 EDT Agnico Eagle still sees FY23 payable gold production 3.24M-3.44M ounces - Total cash costs per ounce expected to be between $840 and $890 and AISC per ounce expected to be between $1,140 and $1,190. Estimated total capital expenditures for 2023 remain at approximately $1.42B.
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MPC | Hot Stocks17:06 EDT Marathon Petroleum raises quarterly dividend 10%, announces $5B share buyback - The board of directors of Marathon Petroleum has declared a dividend of 82.5c per share on common stock, an increase of approximately 10% over its previous dividend of 75c per share. The dividend is payable Dec. 11, 2023, to shareholders of record as of the close of business Nov. 16, 2023. Additionally, the board of directors of MPC has approved an additional $5B share repurchase authorization. This authorization is in addition to its previous authorization, which had approximately $4.3B remaining as of September 30. The authorization has no expiration date.
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SLNH... | Hot Stocks17:06 EDT Soluna, Bit Digital announce year-long hosting partnership - Soluna Holdings (SLNH) announced twelve month 4.4 MW hosting contract with Bit Digital (BTBT) at Soluna's Project Sophie in Kentucky. The contract will fill capacity at the data center that is becoming available as the current customer's contract begins to roll off in November 2023. John Belizaire, CEO of Soluna Computing, commented, "Earlier this year we shifted our business model to offer hosting to industry leaders. Bringing on top notch mining companies like Bit Digital is extremely exciting and we look forward to partnering." The company expects the Bit Digital hardware to be online by early November.
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EDR | Hot Stocks17:05 EDT Endeavor Group jumps 20% to $21.29 on Silver Lake take-private report
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EDR | Hot Stocks17:05 EDT Silver Lake considering take-private of Endeavor Group - Silver Lake issued the following statement regarding the disclosure by Endeavor Group Holdings that it is exploring strategic alternatives: "Silver Lake is committed to strategies that deliver value for all shareholders of Endeavor. To that end, Silver Lake is currently working toward making a proposal to take Endeavor private. Silver Lake firmly believes in Endeavor's business and is not interested in selling its shares in Endeavor to a third-party nor in entertaining bids for assets that are a part of Endeavor. Silver Lake is the owner of approximately 71% of the voting power of Endeavor. Our Co-Chief Executive Officer, Egon Durban, and our Managing Director, Stephen Evans, serve as members of the Executive Committee of the Board of Directors of Endeavor. Silver Lake has been a committed investor since 2012 and has made significant investments in Endeavor since then to support its growth."
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WFG | Hot Stocks17:03 EDT West Fraser Timber sees 2023 total lumber shipments 'similar' to 2022 levels - "We continue to expect total lumber shipments in 2023 will be largely similar to 2022 levels since we have not experienced in 2023 the type of severe transportation challenges faced last year, though this has been partially offset by the permanent B.C. mill curtailments announced in August 2022 and the indefinite curtailment of the Perry, Florida sawmill announced in January 2023. However, while we are reiterating our 2023 SPF shipments guidance of 2.6 to 2.8 billion board feet, market demand in the U.S. South has begun to show signs of cooling and as such we now expect 2023 SYP shipments to be at the bottom end of our 2.9 to 3.1 billion board feet guidance range. In our NA EWP segment, demand has remained relatively robust and as such we are reiterating our 2023 OSB shipments guidance of 6.1 to 6.4 billion square feet (3/8-inch basis). Our modernization capital investment in Allendale, South Carolina is now effectively complete as the start-up phase of the mill, which began in late Q2-23, progresses in-line with expectations. We anticipate a ramp-up period of up to three years to meet targeted production and as such we do not anticipate the Allendale mill contributing materially to shipments in 2023. In our Europe EWP segment, we expect near-term demand weakness to continue and thus expect 2023 OSB shipments to be near the bottom end of the guidance range of 1.0 to 1.2 billion square feet (3/8-inch basis). In the Pulp & Paper segment, activities in respect of the closing conditions for the previously announced sale of Hinton pulp mill are proceeding and we now anticipate closing the transaction in early 2024. Activities in respect of the closing conditions for the sale of Quesnel River Pulp mill and Slave Lake Pulp mill are proceeding and we anticipate closing of the transaction in early 2024. In Q3-23, we experienced continued moderation of costs and improved availability for inputs across our supply chain, including resins, chemicals, transportation and energy, although labour availability and some capital equipment lead times remained challenging. We expect these trends to largely continue over the near term. Based on our current outlook and owing to lengthened lead times for projects underway or planned, we anticipate that there will be a carryover of capital spending into 2024 for projects in progress, and as such we now expect to invest approximately $450 million in 2023."
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PROV | Hot Stocks16:59 EDT Provident Financial: CEO Craig Blunden retiring, Donavon Ternes succeeds Jan 1 - Provident Financial Holdings, announced that Craig G. Blunden, Chairman and Chief Executive Officer is retiring from his management positions as CEO of the Company and the Bank effective January 1. Mr. Blunden will transition from serving as CEO and will become non-executive Chairman of the Board of the Company and Bank subsequent to his retirement from executive management duties and responsibilities. In conjunction with Mr. Blunden's retirement, Donavon P. Ternes will be appointed President and CEO of the Company and Bank effective January 1 . Mr. Ternes will continue to serve in his current role as President, Chief Operating Officer, and Chief Financial Officer until January 1, 2024. The Company and Bank is in the process of identifying the successor to Mr. Ternes for the Chief Financial Officer position and will provide further information in a subsequent announcement once the details have been finalized. The Chief Operating Officer position will remain unfilled subsequent to January 1.
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ALGN | Hot Stocks16:56 EDT Align Technology falls 22% to $199.01 after Q3 earnings miss, FY23 guidance cut
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PI | Hot Stocks16:54 EDT Impinj jumps 19% to $59.25 after Q3 earnings beat, above-consensus Q4 guide
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VRE | Hot Stocks16:53 EDT Veris Residential raises 2023 SSS view to up 9%-10% from up 4%-6%
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WHR | Hot Stocks16:53 EDT Whirlpool falls 5% to $119.75 after Q3 results, FY23 guidance cut
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ATNI | Hot Stocks16:52 EDT ATN International sees FY24 adjusted EBITDA $200M-$208M - Capital expenditures for the full year 2024 expected to be in the range of $120 to $130M. "As we move closer to the final year of our three-year schedule of investments, we are planning to come down the other side of the investment bell curve, positioning us to start to reap the benefits of our network investments more fully. These expected benefits include growth in our subscriber base, revenue, and operating margins alongside reduced capital expenditures, as reflected in our full-year 2024 preliminary outlook," noted management.
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MAT | Hot Stocks16:52 EDT Mattel down 6.5% after Q3 results, guidance update
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IBM | Hot Stocks16:50 EDT IBM up 2% at $140.00 after Q3 earnings beat, maintained revenue growth outlook
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LUV | Hot Stocks16:44 EDT Southwest flight attendants reach tentative deal on new contract - Southwest Airlines announced a Tentative Agreement with the Transport Workers Union Local 556 for the airline's nearly 19,000 Flight Attendants. "Southwest's Flight Attendants uphold our commitments to Safety and Hospitality by providing Customers with a safe journey and making them feel welcomed, cared for, and appreciated," said Adam Carlisle, Vice President Labor Relations at Southwest Airlines. "I'm thankful for the work from both negotiating committees throughout this process and the guidance from our National Mediation Board federal mediators. We are all glad our Flight Attendants will soon have an opportunity to vote on this agreement." TWU 556 will communicate details directly to its members about the agreement and the voting timeline.
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TROX | Hot Stocks16:43 EDT Tronox co-CEO Jean-Francois Turgeon to retire, John Romano to be sole CEO - Tronox Holdings announced that Jean-Francois Turgeon, Tronox's co-CEO, will retire from Tronox on April 1, 2024. John Romano, current co-CEO, will become Tronox's sole CEO effective as of Turgeon's retirement. The Board of Directors intends to nominate Turgeon for reelection as a Board member at the company's Annual General Meeting in May 2024.
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EQIX | Hot Stocks16:42 EDT Equinix raises quarterly dividend 25% to $4.26 per share - Equinix announced that its board of directors approved a 25% increase in the company's dividend level and has declared a quarterly cash dividend of $4.26 per share on its common stock. The quarterly common stock dividend will be paid on December 13 to shareholders of record on November 15.
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UCTT | Hot Stocks16:41 EDT Ultra Clean closes acquisition of HIS Innovations Group - Ultra Clean Holdings announced that it has closed the acquisition of HIS Innovations Group, a privately held company based in Hillsboro, Oregon. HIS is a leading supplier to the semiconductor sub-fab segment including the design, manufacturing, and integration of components, process solutions, and fully integrated sub-systems. UCT anticipates the acquisition to be accretive to shareholders on an adjusted basis. The HIS team will continue to be based in Hillsboro and will report into UCT's Products division.
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DKL | Hot Stocks16:39 EDT Delek Logistics raises quarterly cash distribution 1% to $1.045 per unit - The third quarter 2023 cash distribution is payable on November 13 to unitholders of record on November 6.
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LXFR | Hot Stocks16:37 EDT Luxfer initiates strategic review process - The company said, "As was also announced on October 11, Luxfer is accelerating and expanding its annual strategic review process, with the goal of driving improved financial performance and identifying opportunities to maximize value. To support its efforts and to ensure a rigorous, independent review, the Board of Directors has engaged a leading global investment bank to assist the Company in conducting a comprehensive process to thoroughly evaluate all of Luxfer's businesses, its capital structure, and available alternatives to unlock and maximize value. The comprehensive strategic review is ongoing, and the Company plans to provide an update on or before its fourth quarter and full year 2023 earnings call to be held in February 2024."
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WH CHH | Hot Stocks16:37 EDT Wyndham says standalone growth prospects offer superior returns - Wyndham Hotels & Resorts (WH) CEO Geoff Ballotti said in the company's earnings release, "We recently announced our Board of Directors unanimously rejected an unsolicited stock-and-cash proposal by Choice Hotels (CHH) to acquire our company. Our Board of Directors, together with our financial and legal advisors, closely reviewed Choice's latest proposal and determined, for multiple reasons, that it is not in the best interest of our shareholders. They remain confident that our standalone growth prospects offer superior, risk-adjusted returns to Wyndham shareholders. Supporting that belief are our third quarter results, which were highlighted by continued growth in global RevPAR, ongoing domestic and international organic net room growth and another 8% increase in hotel contracts awarded to franchisees driving our development pipeline to a record 1,930 hotels...We're enthusiastic about our ability to deliver exceptional value to our shareholders, guests, franchisees and team members in the months and years ahead."
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SIRI | Hot Stocks16:35 EDT Sirius XM raises quarterly cash dividend 10% to 2.66c per share - SiriusXM announced that its Board of Directors declared a quarterly cash dividend of 2.66c per share of common stock, reflecting an increase of approximately 10% over the previous quarter's dividend. This regular quarterly dividend is payable in cash on November 29 to stockholders of record at the close of business on November 7.
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UPS PYPL | Hot Stocks16:34 EDT UPS to acquire Happy Returns from PayPal, terms not disclosed - UPS (UPS) announced that it has entered into an agreement to acquire Happy Returns from PayPal (PYPL). Happy Returns is a U.S.-based software and reverse logistics company that enables frictionless, no-box, no-label returns for merchants and consumers. "We know that returns have long frustrated shoppers and retailers looking for quick and easy solutions," UPS CEO Carol B. Tome said. "By combining Happy Returns' easy digital experience and established drop-off points with UPS's small package network and footprint of close to 5,200 The UPS Store locations, box-free, label-free returns will soon be available at more than 12,000 convenient locations in the U.S." The acquisition of Happy Returns is expected to close in the fourth quarter of 2023, subject to customary conditions and regulatory approvals. Terms of the acquisition were not disclosed.
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IEX | Hot Stocks16:33 EDT Idex Corp. names Abhi Khandelwal CFO - IDEX Corporation announced the appointment of Abhi Khandelwal as Senior Vice President and Chief Financial Officer of the Company, effective November 20, 2023. Mr. Khandelwal returns to IDEX where he served from 2010 to early 2020 in a number of financial roles of increasing responsibility, most recently as Vice President of Finance Operations, Treasury and Financial Planning & Analysis. He joins IDEX after serving as Chief Financial Officer of Multi-Color Corporation, a global packaging services and label solutions provider based in Rosemont, Illinois since January 2022, and, prior to that, as Senior Vice President and Chief Financial Officer for CIRCOR International. Prior to his initial service with IDEX, Mr. Khandelwal held a range of financial leadership positions at Stanley Black & Decker and General Electric. He earned a Bachelor of Science degree in Finance from Indiana University and a Master of Business Administration degree from Northwestern University. "We are thrilled to welcome Abhi back to IDEX, where he will be able to leverage his CFO experience along with his successful prior history with our organization and our people. He was a trusted financial partner to me in my earlier role as COO, and I look forward to his expertise and partnership in helping IDEX continue to grow," IDEX CEO and President Eric Ashleman said.
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ARR | Hot Stocks16:30 EDT Armour Residential REIT increases stock repurchase plan to 2.5M shares - Armour authorized an increase to the current common stock repurchase authorization to authorize the company to repurchase up to an aggregate of 2.5M shares of the company's outstanding common stock, par value $0.001 per share, effective October 30.
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META | Hot Stocks16:28 EDT Meta Platforms up 4% to $312.01 after Q3 earnings - Meta shares are up $12.48, or 4%, to $312.01 in after-hours trading ahead of the company's earnings call.
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AR | Hot Stocks16:27 EDT Antero Resources raises FY23 production guidance to 3.39-3.41 Bcfe/d - Antero is increasing its full year 2023 production guidance to 3.39 to 3.41 Bcfe/d, an increase at the midpoint of approximately 25 MMcfe/d. The higher than expected volumes are driven by strong well performance and capital efficiency gains. Antero is decreasing the high end of its cash production expense guidance by $0.05 per Mcfe to a range of $2.35 to $2.40 per Mcfe reflecting lower fuel costs and lower production and ad valorem taxes. Antero is also decreasing its natural gas realized price guidance to flat to NYMEX Henry Hub. This decrease is due to increased exposure to the Columbia Gas Appalachia Hub during the third quarter driven by maintenance at the Cove Point LNG Terminal as well as longer maintenance on a Gulf Coast directed pipeline during the quarter. Antero is reducing its net marketing expense guidance by $0.02 per Mcfe to a range of $0.05 to $0.07 per Mcfe due to higher than expected production lowering unutilized firm transportation expense.
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RKLB | Hot Stocks16:25 EDT Rocket Lab receives FAA authorization to resume launches - Rocket Lab USA announced it has received authorization from the Federal Aviation Administration to resume Electron launches from Launch Complex 1. The authorization comes after Rocket Lab experienced an in-flight anomaly on September 19th during the Company's 41st Electron launch. The FAA, the federal licensing body for U.S. launch vehicles, has now confirmed that Rocket Lab's launch license remains active, which is the first step to enable launches to resume. Rocket Lab is now finalizing a meticulous review into the anomaly's root cause, a process that involves working through an extensive fault tree to exhaust all potential causes for the anomaly, as well as completing a comprehensive test campaign to recreate the issue on the ground. The FAA is providing oversight of Rocket Lab's mishap investigation to ensure Rocket Lab complies with its FAA-approved mishap investigation plan and other regulatory requirements. In addition, the National Transportation Safety Board (NTSB) was granted official observer status to the investigation. The full review is expected to be completed in the coming weeks, with Rocket Lab currently anticipating a return to flight later this quarter with corrective measures in place. During the September 19th mission, Electron completed a successful lift-off, first stage burn and stage separation as planned, before an issue was experienced at around two and a half minutes into flight shortly after second stage engine ignition. Flight data shows Electron's first stage performed as expected during the mission and did not contribute to the anomaly.
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EFC | Hot Stocks16:24 EDT Ellington Financial estimates book value per share of $14.33 as of September 30 - Ellington Financial announced its estimated book value per share of common stock of $14.33 as of September 30, 2023. This estimate includes the effect of the previously announced monthly dividend of 15c per share of common stock, payable on October 25, 2023 to holders of record on September 29, 2023, with an ex-dividend date of September 28, 2023.
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NXT FLEX | Hot Stocks16:22 EDT Nextracker announces plan to separate fromFlex - Nextracker (NXT) "announced Flex Ltd.'s (FLEX) plan to effect a spin-off of all of its remaining interests in Nextracker Inc. to Flex shareholders, which would result in a separation by Flex from its ownership in Nextracker. Later today, Nextracker expects to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission, that includes a preliminary proxy statement of Flex, which will include additional information regarding the spin-off. The separation from Flex is currently expected to close in fiscal Q4 ending March 31, 2024, but remains subject to a number of conditions, and no assurance can be given that the spin-off will in fact occur."
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META | Hot Stocks16:21 EDT Meta reports Facebook MAUs of 3.05B as of September 30, up 3% year-over-year - Meta Platforms reports family daily active people, or DAP, was 3.14 billion on average for September 2023, an increase of 7% year-over-year. Reports family monthly active people, or MAP, was 3.96B as of September 30, 2023, an increase of 7% year-over-year. Reports Q3 ad impressions delivered across its Family of Apps increased by 31% year-over-year and the average price per ad decreased by 6% year-over-year.
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META | Hot Stocks16:20 EDT Meta reports Facebook DAUs 2.09B on average for September, up 5% year-over-year
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META | Hot Stocks16:20 EDT Meta sees 2024 total expenses in range of $94B-$99B - Meta said: "We are also sharing a preliminary outlook for 2024 expenses, capital expenditures and our tax rate. We expect full-year 2024 total expenses to be in the range of $94-99B. We continue to expect a few factors to be drivers of total expense growth in 2024: First, we expect higher infrastructure-related costs next year. Given our increased capital investments in recent years, we expect depreciation expenses in 2024 to increase by a larger amount than in 2023. We also expect to incur higher operating costs from running a larger infrastructure footprint. Second, we anticipate growth in payroll expenses as we work down our current hiring underrun and add incremental talent to support priority areas in 2024, which we expect will continue to shift our workforce composition toward higher-cost technical roles. Finally, for Reality Labs, we expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts in augmented reality/virtual reality and our investments to further scale our ecosystem. We expect 2023 capital expenditures to be in the range of $27-29B, updated from our prior estimate of $27-30B."
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DTC | Hot Stocks16:17 EDT Solo Brands names Andrea Tarbox interim CFO - Solo Brands announced that Somer Webb, Chief Financial Officer, has notified the Company of her intent to pursue other opportunities. Ms. Webb will remain with the Company until December 10, 2023. The Company has engaged an executive search firm to assist in identifying her successor. The Company has also announced Andrea Tarbox will assume the role of Interim CFO beginning on December 10, 2023. Tarbox serves on the board of directors of Solo Brands and chairs the audit committee.
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GGG | Hot Stocks16:17 EDT Graco 'confident' in ability to deliver on outlook for full year - "Our results reflect underlying business trends that were in line with our expectations for the year across our businesses," said Sheahan. "Despite lower Contractor segment volumes and uncertain macroeconomic conditions, we remain confident in our ability to deliver on our outlook for the full year of low single-digit growth on an organic, constant currency basis."
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NOW | Hot Stocks16:14 EDT ServiceNow jumps 6% to $563 after Q3 earnings beat
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WCN | Hot Stocks16:14 EDT Waste Connections raises quarterly dividend 11.8% to 28.5c from 25.5c per share - To be paid on November 28 to shareholders of record on the close of business on November 8.
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NOW | Hot Stocks16:14 EDT ServiceNow sees FY23 subscription revenue growth of 25%
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NOW | Hot Stocks16:13 EDT ServiceNow sees Q4 subscription revenue up 23%-23.5% - Sees Q4 operating margin 27.5%.
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AMSF | Hot Stocks16:09 EDT Amerisafe declares special dividend of $3.50 per share - The special cash dividend will be payable on December 15, 2023 to shareholders of record as of December 1, 2023.
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NOW | Hot Stocks16:08 EDT ServiceNow enters into partnership with ANSR - ServiceNow and ANSR, a market expert in building, managing, and scaling teams through Global Capability Centers, announced a strategic partnership to power GCCs on the Now Platform. The ServiceNow Ecosystem Ventures program joins existing ANSR investors to accelerate growth in key global markets. The partnership will help increase talent capacity for ANSR clients by establishing ServiceNow Centers of Excellence in more than 60 GCCs to train 3,500 individuals across India.
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NOVA | Hot Stocks16:06 EDT Sunnova Energy sees FY24 adjusted EBITDA $350M-$450M - Sees FY24 customer additions 185,000-195,000.
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NOVA | Hot Stocks16:05 EDT Sunnova Energy backs FY23 adjusted EBITDA view $235M-$255M - Backs FY23 customer additions view 135K-145K.
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CHH WH | Hot Stocks16:04 EDT Choice Hotels calls on Wyndham Hotels & Resorts to engage in merger talks - Choice Hotels International (CHH) called upon the board of directors of Wyndham Hotels & Resorts (WH) to engage in good faith discussions so that shareholders of both companies can benefit from the compelling combination. Patrick Pacious, President and Chief Executive Officer of Choice, said, "We appreciate the positive feedback we have received since first making our proposal public, particularly the support from both companies' shareholders and franchisees. Through our conversations with these stakeholders, we are encouraged by their clear understanding of the natural fit of the two businesses and belief in the combined company's ability to drive greater shareholder returns, franchisee profitability, and strategic benefits. They, and others, share our perspective that a transaction is pro-competitive, has a clear path to completion, and creates a combined company with a strong free cash flow profile to support both rapid deleveraging and investments for growth." Pacious continued, "We respect Wyndham's desire to achieve the best outcome for its shareholders, but that can't happen if Wyndham unilaterally ends our discussions. Both companies' shareholders have expressed to us their understanding of the tremendous value this combination could deliver. As recently as a few weeks ago, Wyndham prepared a critical information request list, on which both parties broadly aligned, to help Choice and Wyndham close any remaining value gaps. Wyndham then disengaged before any information was exchanged. We therefore strongly urge Wyndham to return to the discussions. Choice is ready to move expeditiously to negotiate binding terms, including mechanisms to provide market standard protections for Wyndham shareholders."
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FLR | Hot Stocks16:03 EDT Fluor awarded FEED contract for battery production facility - Fluor "announced that its Advanced Technologies & Life Sciences business line has been selected by Altris AB to provide front-end engineering and design services for the world's first industrial-scale sodium-ion battery production facility in Sandviken, Sweden. Fluor recognized the undisclosed contract value in the third quarter of 2023."
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LII | Hot Stocks16:01 EDT Lennox acquires AES - Lennox has completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market. Across North America, AES provides installations services, adapter curbs, and reclaim services. AES will become part of the Lennox Commercial Business Segment and enable the delivery of "front-to-back" life-cycle integrated services to AES and Lennox customers. AES President Jason Benton will join the Lennox Commercial business segment in a leadership role and will continue to lead the AES business and team of approximately 280 associates. Terms of the acquisition were not disclosed.
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EDR TKO | Hot Stocks16:01 EDT Endeavor to review strategic alternatives, will not consider sale of TKO stake - Endeavor Group Holdings (EDR) announced the initiation of a formal review to evaluate strategic alternatives for the Company. As part of this review of strategic alternatives, the Company will not consider the sale or disposition of the Company's interest in TKO Group Holdings (TKO). "Given the continued dislocation between Endeavor's public market value and the intrinsic value of Endeavor's underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders," said Ariel Emanuel, CEO of Endeavor. Endeavor has not set a deadline or definitive timetable for the completion of the strategic alternatives review process, and there can be no assurance that this process will result in any particular outcome. The Company does not intend to comment further regarding the review of strategic alternatives until it determines disclosure is necessary or advisable.
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CSX | Hot Stocks15:47 EDT CSX announces ratification of paid sick leave pact covering 200 BRS workers - CSX Corp. is announcing the ratification of a paid sick leave agreement covering approximately 200 employees represented by the Brotherhood of Railroad Signalmen, or BRS, on the company's L&N property. "The ratification follows another recent agreement with the BRS covering nearly 400 employees on the SCL property. Both agreements provide a sick leave package that ensures employees can take necessary time off from work to recover from illness without worrying about their financial stability," the company said.
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RUN | Hot Stocks15:36 EDT Sunrun responds to 'deceptive' report issued by Muddy Waters - Sunrun sets the record straight in response to another deceptive report issued by short-seller Muddy Waters. "Muddy Waters has again attempted to mislead their readers and manipulate the share price for Muddy Waters' benefit with gross inaccuracies. It purports that data published by the Energy Information Administration and Sunrun's reported Subscribers count is comparable, which it is not. Muddy Waters is comparing apples to oranges and even concedes that the data likely is not comparable. The fact is that volume reported to EIA is not equatable to Sunrun's Subscriber volume reporting. Sunrun provides both figures; however, data supplied to EIA is not comparable to Subscribers for several reasons. First, as Muddy Waters acknowledges, Sunrun's customer count is based on installations, whereas EIA data is based on assets that are already placed in operation. Because there is often a substantial lag between installation activities and ultimate operation, and an additional lag before monthly billing commences, the EIA number will always be substantially lower than Sunrun's reported 'Subscribers' metric. Additionally, the EIA data excludes customers Sunrun is not actively billing, such as subscribers who elected to pre-pay their contracts. Muddy Waters has it wrong. Sunrun fully stands behind its reporting of metrics, including subscribers. Muddy Waters also insinuates that investment tax credits are somehow based on data supplied to EIA. This is also entirely incorrect. EIA data has no bearing on tax credit determinations or reporting to Sunrun's investors. Data Sunrun reports to EIA is a compliance requirement to provide information about billing amounts to customers and nameplate capacity of solar systems currently owned by Sunrun, based on specifications provided by EIA. Muddy Waters has it wrong. In addition, Muddy Waters also demonstrates they do not understand GAAP accounting for leased systems. For Subscribers, Sunrun incurs many costs that are expensed in-period. Only certain costs are capitalized. For Customers who purchase systems, Sunrun expenses all costs in-period. Muddy Waters is trying to compare all costs incurred for Customer purchase systems to only the capitalized costs to create Subscribers. Sunrun appropriately captures the cost to install a Subscriber in our reported supplemental cost memo. Muddy Waters has it wrong. Sunrun stands by its financial statements, risk disclosures, and information provided to investors, regulators, taxing authorities, and the U.S. Energy Information Administration. Sunrun is committed to operating with the highest integrity, and utilizes industry-standard financing vehicles."
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PAYO ETSY | Hot Stocks15:02 EDT Payoneer announces collaboration with Etsy - Payoneer (PAYO) announced a collaboration with Etsy (ETSY) to support its bespoke seller offering, Etsy Payments. "The collaboration will enable Etsy to streamline payments to sellers and help create economic opportunities to more entrepreneurs in emerging markets. Etsy Payments is the core of Etsy's payment technology and enables flexible and secure payments infrastructure to both buyers and sellers. The collaboration between Payoneer and Etsy will utilize Payoneer's global infrastructure to offer greater services and seamless payouts to sellers in the currency of their preference. It will initially be launched in Ukraine and Thailand, followed by India, Japan, Argentina, Chile, and Peru by the end of 2023," the company stated. Ya Wen, SVP Americas at Payoneer, commented: "As a leader in cross-border financial services technology, Payoneer will provide critical infrastructure to support Etsy in expanding its payments offering to sellers in emerging markets and navigating complex payment ecosystems. This collaboration will help create opportunities for the often-underserved sellers in emerging markets, giving them better access to global demand. We are delighted to be working with such an established brand. We look forward to working with Etsy to increase accessibility for sellers in other markets."
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GOOG GOOGL | Hot Stocks14:53 EDT Google begins roll-out of 'About this Image' tool globally - The company said in part, in earlier release on its blog: "Earlier this year, we announced a new feature called About this image, and today, this feature is rolling out to English language users globally in Google Search. About this image gives people an easy way to check the credibility and context of images they see online. Here's what you can discover with this tool:An image's history...This can be helpful if an image is being taken out of context and shared in relation to a current event, but it's actually much older...How other sites use and describe the image: You can see how an image is used on other pages...This information can be helpful to assess the claims being made about an image, and to see evidence and perspectives from other sources.An image's metadata: You'll be able to see metadata - when available - that image creators and publishers have added to an image, including fields that may indicate that it has been generated or enhanced by AI. All Google AI-generated images will have this markup in the original file" Reference Link
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ABT | Hot Stocks14:36 EDT Abbott announces late-breaking data from LIFE-BTK clinical trial - Abbott announced late-breaking data from the LIFE-BTK clinical trial evaluating the Esprit BTK Everolimus Eluting Resorbable Scaffold System in people with chronic limb-threatening ischemia. CLTI is a severe stage of peripheral artery disease due to advanced arterial blockage in the lower extremities. The LIFE-BTK trial met both of its primary safety and effectiveness endpoints, demonstrating that Esprit BTK reduces disease progression and helps improve medical outcomes compared to the current standard of care, balloon angioplasty. Data from LIFE-BTK was presented as a late-breaking clinical trial at the 35th Transcatheter Cardiovascular Therapeutics Conference in San Francisco and simultaneously published in the New England Journal of Medicine. The LIFE-BTK trial enrolled 261 people worldwide. The study aimed to investigate whether Esprit BTK could offer greater benefits than the current option of balloon angioplasty to open blocked arteries in the leg and to keep the arteries open. The trial's primary efficacy endpoint evaluated primary patency plus limb salvage. The trial met the efficacy endpoint and showed that Esprit BTK is superior to balloon angioplasty in lowering the risk of total obstruction of the target vessel, narrowing of the target lesion, major amputation and repeat interventions of the target lesion. The primary safety endpoint evaluating freedom from above-the-ankle amputation, major reintervention at six-months and death within 30-days showed that Esprit BTK was non-inferior to balloon angioplasty. Based on the strength of the LIFE-BTK trial results, Abbott intends to submit the Esprit BTK Everolimus Eluting Resorbable Scaffold System for review by the U.S. Food and Drug Administration.
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AIRE | Hot Stocks14:36 EDT Realpha Tech Corp. trading resumes
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BSX | Hot Stocks14:35 EDT Boston Scientific reports 'positive' 12-month results from AGENT IDE trial - Boston Scientific announced "positive" 12-month results from the pivotal AGENT IDE clinical trial of the AGENT Drug-Coated Balloon, or DCB. Primary endpoint findings from this first clinical trial in the U.S. to evaluate the safety and effectiveness of using a DCB to treat coronary in-stent restenosis, or ISR, were presented in a late-breaking clinical trial session at Transcatheter Cardiovascular Therapeutics, the annual scientific symposium of the Cardiovascular Research Foundation, the company said. This trial met the primary endpoint of target lesion failure at 12 months with the AGENT DCB demonstrating statistical superiority to uncoated balloon angioplasty. These differences were mainly driven by significantly reduced rates of myocardial infarction related to the target vessel, TV-MI, or heart attack, and the need for a target lesion revascularization, TLR, or a repeated percutaneous coronary intervention, procedure. Overall, data demonstrated an approximate 38% relative risk reduction in TLF, the company stated.
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AIRE | Hot Stocks14:26 EDT Realpha Tech Corp. trading halted, volatility trading pause
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REE | Hot Stocks14:20 EDT Ree Automotive says order book has doubled since August to $40M - Ree Automotive announced its initial order book value has doubled since late August. Ree's initial order book value is now approximately $40M with a recent binding order by Midwest Transit Equipment. "As we are close to delivering our first vehicles in the US market, REE continues to see strong demand for our P7 electric trucks from dealers around North America, resulting in our order book value doubling in just under two months," said Tali Miller, chief business officer at Ree. "We are excited to be chosen by Midwest Transit Equipment, a leading bus dealer in the US, as they enter the medium duty truck segment."
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CNI... | Hot Stocks13:45 EDT North American rail traffic up 0.1% for the week ending October 21 - The Association of American Railroads or AAR, reported U.S. rail traffic for the week ending October 21. For this week, total U.S. weekly rail traffic was 505,985 carloads and intermodal units, up 1.8% compared with the same week last year. Total carloads for the week ending October 21 were 234,893 carloads, up 1.5% compared with the same week in 2022, while U.S. weekly intermodal volume was 271,092 containers and trailers, up 2.1% compared to 2022. Six of the 10 carload commodity groups posted an increase compared with the same week in 2022. They included metallic ores and metals, up 3,855 carloads, to 22,463; nonmetallic minerals, up 1,595 carloads, to 33,966; and chemicals, up 1,076 carloads, to 31,517. Commodity groups that posted decreases compared with the same week in 2022 included grain, down 2,374 carloads, to 20,367; coal, down 1,442 carloads, to 67,459; and forest products, down 390 carloads, to 7,805. North American rail volume for the week ending October 21, on 12 reporting U.S., Canadian and Mexican railroads totaled 348,134 carloads, up 0.3% compared with the same week last year, and 355,428 intermodal units, down 0.1%compared with last year. Total combined weekly rail traffic in North America was 703,562 carloads and intermodal units, up 0.1% . North American rail volume for the first 42 weeks of 2023 was 27,452,637 carloads and intermodal units, down 3.5% compared with 2022. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific Kansas City (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP), Trinity Industries (TRN), Greenbrier (GBX), FreightCar America (RAIL), Wabtec (WAB) and Rail Vision (RVSN). Reference Link
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FMAO | Hot Stocks13:21 EDT Farmers & Merchants appoints Barbara Britenriker as CFO - F&M Bank, an Archbold, Ohio-based community bank owned by Farmers & Merchants Bancorp, announced several organizational changes to achieve strategic goals and ambitions for the future of the organization. Barbara Britenriker, EVP/Chief Financial Officer for F&M Bank and Farmers & Merchants Bancorp: As Chief Financial Officer for both F&M Bank and Farmers & Merchants Bancorp, Inc., Barb will lead the redesign of the Company's finance capabilities to support a bank with $5 billion in total assets. Her expanded focus will be on financial reporting, cash management, financial systems, and investor relations. Katrina DeGroff, SVP/Chief Accounting Officer: As Chief Accounting Officer, Katrina will be accountable for all financial reporting on Farmers & Merchants Bancorp, Inc. and its subsidiaries, as well as valuation, verification, and strategic planning initiatives. Andrew Baker, SVP/Chief Retail Banking Officer and Regional President of Northern Indiana: In his expanded role, Andy will be responsible for leading all aspects of F&M's community-based retail bank operations, including the Company's branch network, mortgage line of business and private banking. He will retain his position as Regional President of Northern Indiana. Taryn Marino, SVP/Deputy Chief Retail Banking Officer: As the Deputy Chief Retail Banking Officer, Taryn will report to Andy supporting the strategic goals of F&M's retail banking operations. Taryn will have a direct impact on implementing strategies to achieve growth, profitability, and operational efficiency, while enhancing F&M's customer experience.
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STGW ACN | Hot Stocks12:46 EDT Stagwell to cell ConcentricLife to Accenture Song for $245M in cash - Stagwell (STGW) announced it has reached an agreement to sell its integrated healthcare marketing agency and pharmaceutical commercialization platform ConcentricLife to Accenture Song, the tech-powered creative group of Accenture (ACN), for $245M in cash. "This disposition is consistent with our strategy of organizing our portfolio to focus on core digital services, including AI-based digital transformation; strengthening our balance sheet; and investing in our future," said Mark Penn, Chairman and CEO Stagwell. "We believe Accenture Song will be a good home for ConcentricLife, consistent with their focus on growing presence in the healthcare and life sciences industry. We wish Ken and the leadership team the best in their new home." Completion of the transaction is subject to regulatory clearance and other customary closing conditions. Fairmount Partners is serving as the financial advisor to Stagwell for this transaction.
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ACN STGW | Hot Stocks12:43 EDT Accenture to acquire Stagwell's ConcentricLife - Accenture (ACN) has agreed to acquire ConcentricLife, a healthcare marketing agency with expertise in helping Life Sciences brands build an optimal brand experience at any stage of the health journey. The agreement to acquire ConcentricLife, which is a subsidiary of Stagwell (STGW), "reinforces Accenture Song's continued investment in creating end-to-end solutions for its Life Sciences clients through relevant communications and experiences attuned to the ever-evolving lives of today's patients and healthcare professionals," the company stated. Headquartered in New York, ConcentricLife's 270+ employees will join Accenture Song in other markets including Atlanta, Chicago, Ft. Lauderdale, San Diego and London. Completion of the acquisition is subject to customary closing conditions, including receipt of regulatory clearance.
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SQL | Hot Stocks12:40 EDT SeqLL Inc trading resumes
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SQL | Hot Stocks12:30 EDT SeqLL Inc trading halted, volatility trading pause
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CSCO NVDA | Hot Stocks12:28 EDT Cisco, Nvidia partner over delivering AI-powered meetings for hybrid workers - Cisco (CSCO) unveiled the next milestone of its ongoing work with NVIDIA (NVDA) to deliver AI-powered meetings for hybrid workers. Cisco announced the launch of Room Kit EQX and the expansion of its Cinematic Meetings capabilities - both powered by NVIDIA's AI engine - with the goal of enhancing collaboration experiences with audio and video intelligence and enabling more equitable hybrid meetings. "In order for people to want to come to the office, companies must fundamentally reimagine and reconfigure workspaces to provide seamless and immersive collaboration experience," said Jeetu Patel, Executive Vice President and General Manager, Cisco Security and Collaboration. "Our collaboration with NVIDIA helps make this possible as we expand our portfolio of AI-powered solutions that unlock the potential of hybrid workers." The integration of video devices supporting AI and machine learning is critical to ensuring the longevity of investments made to deliver hybrid work experiences. The tight integration of Cisco's world-class hardware, leading conference room operating system, RoomOS, and NVIDIA's AI capabilities allows Cisco to deliver the industry's most capable AI and machine learning platform- enabling 20x the AI capabilities of previous generations, the company said. "Edge AI is playing a vital role in bringing autonomy and improving productivity across many industries," said Deepu Talla, Vice President of Embedded and Edge Computing, NVIDIA. "Cisco and NVIDIA have been pioneering the use of AI to enhance collaboration in the workplace, and the new line of products will bring transformative technology to this space."
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GBX | Hot Stocks12:01 EDT Greenbrier falls -14.1% - Greenbrier is down -14.1%, or -$5.76 to $35.10.
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USNA | Hot Stocks12:00 EDT Usana falls -17.5% - Usana is down -17.5%, or -$9.68 to $45.75.
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ENVA | Hot Stocks12:00 EDT Enova International falls -18.3% - Enova International is down -18.3%, or -$8.10 to $36.08.
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AMPX | Hot Stocks12:00 EDT Amprius Technologies rises 15.4% - Amprius Technologies is up 15.4%, or 41c to $3.08.
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LRN | Hot Stocks12:00 EDT Stride rises 17.7% - Stride is up 17.7%, or $7.86 to $52.36.
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TRCA | Hot Stocks12:00 EDT Twin Ridge Capital Acquisition rises 29.8% - Twin Ridge Capital Acquisition is up 29.8%, or $1.99 to $8.66.
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JGGC | Hot Stocks11:13 EDT Jaguar Global Growth Corporation I trading resumes
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BA | Hot Stocks11:09 EDT Boeing sees 2024 cash flow higher than 2023
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BA | Hot Stocks11:09 EDT Boeing sees updating guidance for 2024 in early part of year
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ALNY REGN | Hot Stocks11:07 EDT Alnylam reports added 'positive interim results' from Phase 1 Alzheimer's trial - Alnylam Pharmaceuticals (ALNY) announced what it calls "additional positive interim results" for the ongoing single ascending dose portion of the Phase 1 study of ALN-APP, an investigational RNAi therapeutic targeting amyloid precursor protein in development for the treatment of Alzheimer's disease and cerebral amyloid angiopathy, or CAA. The data were presented today in a late-breaker session at the 16th Clinical Trials on Alzheimer's Disease, or CTAD, conference, being held October 24-27 in Boston, MA. ALN-APP is the first clinical-stage program using Alnylam's proprietary C16-siRNA conjugate platform for central nervous system delivery and the first investigational RNAi therapeutic to demonstrate gene silencing in the human brain, the company said. ALN-APP is being developed in collaboration with Regeneron (REGN). Twenty patients have been enrolled in three single-dose cohorts in Part A of the ongoing Phase 1 study in patients with early-onset Alzheimer's disease. In this study to date, blinded single doses of ALN-APP, which are administered by intrathecal injection, have been well tolerated. All adverse events were mild or moderate in severity. Cerebral spinal fluid (CSF) safety biomarkers, routine labs, and the exploratory biomarker neurofilament light chain (NfL) all continue to show no concerning trends. Patients treated with a single dose of 75mg ALN-APP experienced rapid and sustained reduction in CSF of both soluble APPalpha and soluble APPbeta, biomarkers of target engagement, with maximum reductions of 84% and 90%, respectively. These effects were highly durable, with mean reductions in sAPPalpha and sAPPbeta of 33% and 39%, respectively, at 10 months after a single 75mg dose. Further exploration of single doses of ALN-APP is ongoing in Part A. In addition, the first patient has now been dosed in Part B, the multiple-dose part of the study. Part B was previously initiated in Canada and has also now received all required approvals to proceed in the UK and the Netherlands. The multiple dose part of the study remains on partial clinical hold in the U.S. due to findings observed in non-clinical chronic toxicology studies.
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LFVN | Hot Stocks11:07 EDT LifeVantage calls Radoff-Sudbury Group's allegations 'simply false' - LifeVantage issued the following statement in response to a press release issued by Bradley Radoff and Sudbury Capital Fund: "LifeVantage did not compensate any consultant for providing a statement to the media regarding the consultants' perspectives on LifeVantage's strategy, Board of Directors and leadership team. The nearly 300 consultants who signed the statement in support of the Company -who are responsible for over 80% of the Company's net revenue - did so voluntarily, independently and without any compensation. LifeVantage took no part in drafting the consultants' statement. The Radoff-Sudbury Group's allegations to the contrary are simply false."
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JGGC | Hot Stocks11:03 EDT Jaguar Global Growth Corporation I trading halted, volatility trading pause
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FDX | Hot Stocks11:01 EDT FedEx provides updates on weather, other service disruptions - FedEx Express experienced disruptions at the Memphis hub last night due to an FAA IT system outage. Potential delays are possible for package deliveries across the U.S. with a delivery commitment of October 25, 2023. Contingency plans are in place and FedEx is committed to providing service to the best of our ability. The company also said FedEx International inbound and outbound service to and from Israel has been reinstated. Pick-up and delivery services will be performed according to local authority instructions, where it is safe and possible. Regarding Maui wildfires, the company said, " we appreciate your patience as we continue to experience delays due to the heightened impacts of the fires." Service delays and disruptions can be anticipated for inbound and outbound shipments throughout the following ZIP Codes: 96761 and 96767. Lastly, FedEx noted that all Russian and Belarusian FedEx International services have been suspended until further notice. As previously communicated, locations in Ukraine have been temporarily closed and inbound and outbound services to Ukraine have been temporarily suspended.
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TRCA | Hot Stocks10:54 EDT Twin Ridge Capital Acquisition Corp trading resumes
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BIIB IONS | Hot Stocks10:53 EDT Biogen says Phase 1b data on BIIB080 in Alzheimer's showed 'favorable trends' - Biogen (BIIB) reported new Phase 1b clinical data from the study of BIIB080, an investigational antisense oligonucleotide, or ASO, therapy targeting tau, in mild Alzheimer's disease, or AD. "The data showed favorable trends on multiple exploratory endpoints of cognition and activities of daily living in AD, building upon prior results which showed a reduction of tau protein in the cerebral spinal fluid and tau positron emission tomography across brain regions," the company stated. The late-breaking results were presented at the 2023 Clinical Trials on Alzheimer's Disease, or CTAD, meeting held in Boston, MA from October 24-27. "This is the first time we've seen both strong target engagement and favorable trends on clinical outcomes with a novel mechanism targeting tau. While these are preliminary findings, we are excited about these results and continue to enroll the Phase 2 CELIA study. We believe defeating Alzheimer's disease will take different approaches and we are committed to exploring the targeting of tau as a new generation of treatment," said Priya Singhal, M.D., M.P.H., Head of Development at Biogen. Recruitment for the Phase 2 CELIA study, evaluating the potential for this ASO targeting tau to slow the worsening of mild cognitive impairment or mild dementia due to AD, is ongoing at sites across North America, Europe and Asia Pacific. In December 2019, Biogen exercised a license option with Ionis (IONS) and obtained a worldwide, exclusive, royalty-bearing license to develop and commercialize BIIB080, the company noted.
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BA | Hot Stocks10:49 EDT Boeing sees October 737 deliveries similar to September
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TRCA | Hot Stocks10:49 EDT Twin Ridge Capital Acquisition Corp trading halted, volatility trading pause
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BA | Hot Stocks10:49 EDT Boeing still plans to resume 77x production later this year
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KR | Hot Stocks10:48 EDT Kroger announces acceptance of EBT payments for digital Pickup, Delivery - The Kroger Co. now accepts EBT payment for digital Pickup and Delivery orders across Kroger Family of Stores, expanding customer access to fresh, healthy foods under the Supplemental Nutrition Assistance Program.
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CDNS PFE | Hot Stocks10:47 EDT Cadence Design expands Pfizer's license to molecular design software - Cadence Molecular Sciences (CDNS) announced that Pfizer (PFE) has signed an agreement to extend and expand access to Cadence products and programming toolkits for advanced molecular design. Cadence Molecular Sciences' physics-and AI-based modeling and cheminformatics computational software is an enabler of early-stage drug discovery innovation. The software is used by major pharmaceutical and biotech companies worldwide to help accelerate and advance therapeutic research.
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ASPAU | Hot Stocks10:40 EDT ASPAU Stock trading resumes
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BA | Hot Stocks10:39 EDT Boeing CEO: Schedule for Max 7, Max 10, 777x unchanged
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BA | Hot Stocks10:38 EDT Boeing 'encouraged' by signs of progress regarding future China Max deliveries
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BA | Hot Stocks10:37 EDT Boeing working to get supply chain caught up to same standard as factories
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BA | Hot Stocks10:36 EDT Boeing seeing increased stability in factories, says CEO
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BA | Hot Stocks10:35 EDT Boeing CEO: Demand 'incredibly robust' in Commercial
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BA | Hot Stocks10:34 EDT Boeing still sees 2025/2026 target of $10B in free cash flow
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BA | Hot Stocks10:34 EDT Boeing knew 2023 would be 'bumpy ride,' but 'making progress in goals,' says CEO - Comments taken from Q3 earnings conference call.
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RUN | Hot Stocks10:19 EDT Muddy Waters says short Sunrun on 'greatly exaggerated' subscriber numbers - In a recently published report, Muddy Waters said it is "again short Sunrun" as it now believes Sunrun has "greatly exaggerated its Subscriber numbers for years, with the current overstatement seemingly close to five quarters of reported deployments. It appears that Sunrun has been claiming and selling tax credits on these inflated numbers as well. The amount of possible excess tax credits for 2022 alone could be ~$200 million." Overall, Muddy Waters' cites "likely substantially inflated per subscriber value, seemingly greatly inflated number of subscribers, possible ITC issues, and dumpster fire financials." Sunrun's stock had dropped about 9% to $8.81 in Wednesday morning trading. Reference Link
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NYAX | Hot Stocks10:17 EDT NYAX Stock trading resumes
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NYAX | Hot Stocks10:12 EDT NYAX Stock trading halted, volatility trading pause
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RUN | Hot Stocks10:11 EDT Sunrun down 11% after Muddy Waters releases short report
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AAPL | Hot Stocks10:07 EDT Apple boosts price of Apple TV+ service to $9.99 per month from $6.99 - Apple is raising the price of its Apple TV+ service to $9.99 per month from $6.99, the company said on its website. It is also raising the price of Arcade to $6.99 from $4.99, and news to $12.99. Price increases for existing users will be effective in 30 days. Reference Link
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LKQ | Hot Stocks10:07 EDT LKQ Corp. completes divestiture of GSF Car Parts - LKQ Corporation has sold GSF Car Parts to Epiris Fund III, a private equity fund based in the United Kingdom. The divestiture fulfills LKQ's undertaking to the UK's Competition and Markets Authority to sell the GSF business in connection with LKQ's acquisition of Uni-Select. Terms of the transaction were not disclosed.
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STLA | Hot Stocks10:06 EDT UNLMTD Real Estate, FIAT partner for FIAT House concept - UNLMTD Real Estate and FIAT announced their partnership in the creation of FIAT House. FIAT House is an innovative residential property featuring over 300 rental residences with hospitality-driven amenities, tailored concierge services, and unique community events, set to open in early 2024. FIAT House is situated at the foot of the George Washington Bridge in Fort Lee, New Jersey, just moments away from Manhattan. Nestled at the convergence of eight major highways and offering access to multiple mass-transit and alternative transportation options, FIAT House will provide residents with unmatched accessibility to New Jersey, New York, and the rest of the world. FIAT House will represent the next generation of mobility with an onsite car-sharing fleet of all-electric FIAT 500e vehicles that will provide residents with a fun-to-drive and sustainable mobility solution.
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TU | Hot Stocks10:04 EDT Decisive Farming by TELUS Agriculture, GrainFox launch partnership - Decisive Farming by TELUS Agriculture and GrainFox announced a new partnership to bring more digital grain trade and sell options to Canadian farmers, providing technology-based solutions to support the ongoing transformation of Canada's agriculture industry. Between crop contracts, ever-changing market conditions, and the advice farmers get at their local elevator, the process of selling crops and finding and comparing the best grain prices can be overwhelming. GrainFox, a leading provider of digital agricultural and financial tools, delivers personalized, data-driven insights to farmers through a mobile or desktop interface. It's a key tool for making decisions, delivering up-to-the minute marketing insights and crop sales recommendations customized to each farm business. By integrating this tool with Decisive Farming capabilities, such as Farm At Hand, all data will be accessible and optimizable so customers can cut through the clutter and make more informed decisions anytime, anywhere.
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LUMN ZM | Hot Stocks10:00 EDT Lumen, Zoom Video expand partnership for phone services - Lumen Technologies (LUMN) has expanded its partnership with Zoom (ZM) to create a simple, secure way for businesses to collaborate anywhere, anytime. This benefits businesses of all sizes by combining Lumen's reliable network infrastructure and phone services with Zoom's feature-rich cloud phone system. As part of the agreement, Lumen will provide Enhanced Local Service, Wholesale Long Distance and Wholesale Toll Free services to Zoom. This will allow Zoom to combine Lumen Public Switched Telephone Network connectivity with its cloud-based Zoom Phone offering.
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GBX | Hot Stocks10:00 EDT Greenbrier falls -16.2% - Greenbrier is down -16.2%, or -$6.61 to $34.25.
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DDD | Hot Stocks10:00 EDT 3D Systems falls -16.7% - 3D Systems is down -16.7%, or -73c to $3.67.
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USNA | Hot Stocks10:00 EDT Usana falls -18.8% - Usana is down -18.8%, or -$10.41 to $45.02.
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PRG | Hot Stocks10:00 EDT PROG Holdings rises 9.7% - PROG Holdings is up 9.7%, or $2.77 to $31.25.
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STG | Hot Stocks10:00 EDT Sunlands Online rises 9.9% - Sunlands Online is up 9.9%, or 56c to $6.19.
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LRN | Hot Stocks10:00 EDT Stride rises 18.1% - Stride is up 18.1%, or $8.05 to $52.55.
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GD | Hot Stocks09:49 EDT General Dynamics says 'can't claim victory yet' over supply chain issues - Expects supply chain "to remain fragile" near term. Expects Q4 deliveries of 40-45 aircraft excluding g700. Cites uncertainty of FAA certification of g700. Expects CapEx to trend back down towards 2% of sales in 2024. Expects growth across defense businesses going into 2024.
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EPOW | Hot Stocks09:48 EDT Sunrise New Energy announces $16M order for energy storage product - Sunrise New Energy announced a major milestone as it has been assigned as the supplier of anode materials for the 2.5 GW Integrated Generation, Grid, and Energy Storage project. The IGGES Project's signing ceremony took place on September 16th, with the participation of Shenzhen Zhuhai New Energy Co., Ltd., Guangxi Longyuan Power Group Corporation Limited, China Railway Construction Corporation Limited and the People's Government of Tiandong County, Baise, Guangxi, at the 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit attended by Chinese Premier Li Qiang. The IGGES Project aims to achieve efficient operation of the energy system, enhance the utilization of renewable energy, reduce reliance on conventional fossil fuels, and strengthen the flexibility and reliability of the energy system. As a key component of this strategic initiative, Sunrise New Energy Materials Co., Ltd has been signed to supply 3,000 tons of anode materials.The 2.5 GW project serves as an initial pilot for the integrated 50 GW IGGES Project over the next five years. It is estimated that a total of 60,000 tons of anode materials will be provided by Sunrise for the IGGES during this period.
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BYD | Hot Stocks09:47 EDT Boyd Gaming falls -11.4% - Boyd Gaming is down -11.4%, or -$6.94 to $54.09.
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ENVA | Hot Stocks09:47 EDT Enova International falls -11.6% - Enova International is down -11.6%, or -$5.12 to $39.06.
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DDD | Hot Stocks09:47 EDT 3D Systems falls -15.9% - 3D Systems is down -15.9%, or -70c to $3.71.
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RHI | Hot Stocks09:47 EDT Robert Half rises 8.1% - Robert Half is up 8.1%, or $5.87 to $78.00.
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PRG | Hot Stocks09:47 EDT PROG Holdings rises 14.1% - PROG Holdings is up 14.1%, or $4.02 to $32.49.
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LRN | Hot Stocks09:47 EDT Stride rises 17.1% - Stride is up 17.1%, or $7.60 to $52.10.
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FOXA... | Hot Stocks09:47 EDT FOX News, SiriusXM extend broadcast agreement - SiriusXM (SIRI) and FOX News Media (FOXA) announced a new long-term agreement to continue carrying FOX News Channel, FOX Business Network and FOX News Headlines 24/7 exclusively across SiriusXM's platforms. Additionally, FOX News On-Demand Audio will remain available on the SiriusXM app. In making the announcement, Jay Wallace, President and Executive Editor of FOX News Media said, "We value our relationship with SiriusXM and are pleased to extend our broadcast agreement, ensuring their audience continued access to their favorite FOX News personalities and powerful primetime lineup." The new agreement guarantees all FOX News Media properties will continue to exclusively appear on SiriusXM's designated channels, with FNC airing on Channel 114, FBN on Channel 113 and FOX News Headlines 24/7 on Channel 115.
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IOAC | Hot Stocks09:44 EDT Innovative International Aqstn Corp trading resumes
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DKDCA | Hot Stocks09:44 EDT Data Knights Acquisition Corp trading resumes
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VRT | Hot Stocks09:41 EDT Vertiv Holdings trading resumes
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VRT | Hot Stocks09:36 EDT Vertiv Holdings trading halted, volatility trading pause
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ASPA | Hot Stocks09:35 EDT Abri SPAC I Inc trading resumes
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IOAC | Hot Stocks09:34 EDT Innovative International Aqstn Corp trading halted, volatility trading pause
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DKDCA | Hot Stocks09:34 EDT Data Knights Acquisition Corp trading halted, volatility trading pause
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ASPA | Hot Stocks09:30 EDT Abri SPAC I Inc trading halted, volatility trading pause
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ASPAU | Hot Stocks09:30 EDT ASPAU Stock trading halted, volatility trading pause
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GNS | Hot Stocks09:29 EDT Genius Group announces additional funding from executives - Genius Group announced that following the recent announcement that Genius Group's CEO, Roger James Hamilton, is providing the company with up to $4 million in funding, the Company has received notice of additional funding from executives within Genius Group. Senior executives and shareholders in Genius Group, which include founders of a number of the companies acquired by Genius Group in 2022 and 2023, together with other senior executives of the Company, are providing additional funding amounting to approximately $2 million in the form of both interest free loans and earnings converted to equity.
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VLCN | Hot Stocks09:29 EDT Volcon enters distribution deal with Indi Imports in New Zealand - Volcon has expanded its global distribution network into New Zealand. The Company penned an exclusive distribution agreement with Powersports Import and Distribution Limited, trading as Indi Imports. Indi Imports joins a family of established specialist powersports and automotive businesses in Queenstown Lakes District, Wanaka, New Zealand.
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NOK... | Hot Stocks09:24 EDT Nokia, Gfiber Labs set new milestone for broadband access - Nokia (NOK) announced that Google Fiber (GOOG;GOOGL) is deploying Nokia's 25G PON solution to enhance its existing fiber network and deliver a new 20 Gig broadband service to customers through GFiber Labs. Using Nokia's 25G PON solution, GFiber can provide broadband speeds that are up to 10x faster than what most fiber networks can deliver today. Nokia's 25G PON fiber broadband solution allows GFiber to establish a future-ready network that can immediately address the growing demand for more capacity and enhanced broadband services. GFiber Labs is currently using this technology to deliver 20 Gig services to UMKC and United Way of Utah County and will be available to select residential customers by the end of the year. Nokia's 25G PON solution enables GFiber to reuse its existing optical fiber cables and active equipment deployed in their network to quickly deliver a 20 Gig symmetrical broadband service to customers.
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PH | Hot Stocks09:22 EDT Parker-Hannifin president Lee Banks retire, COO Andrew Ross to succeed - Parker Hannifin announced that Lee C. Banks, Vice Chairman and President and a Director, will retire on December 31, 2023, after 32 years of dedicated service to the company. Andrew Ross, currently Chief Operating Officer, has been elected by the Board of Directors as President and Chief Operating Officer, effective January 1, 2024.
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BCTX | Hot Stocks09:21 EDT BriaCell forms medical advisory board - BriaCell Therapeutics announces the formation of its medical advisory board and the appointment of three distinguished breast cancer key opinion leaders Massimo Cristofanilli, MD, FACP, Sara Hurvitz, MD, FACP, and Adam Brufsky, MD, PhD, as well as the addition of Charles Sidman, PhD, MBA, to its scientific advisory board. Dr. Cristofanilli currently serves as Chief, Breast Medical Oncology; Associate Director, Precision Medicine Oncology at the Sandra and Edward Meyer Cancer Center; Scientific Director, the Englander, Institute of Precision Medicine. He obtained his medical degree from the University "La Sapienza" in Rome with Honors where he completed his fellowship in medical oncology. Dr. Hurvitz currently serves as Professor of Medicine, Senior Vice President of the clinical research division at Fred Hutchinson Cancer Center, and Head of the division of hematology and oncology at the University of Washington Department of Medicine in Seattle. Adam Brufsky, MD, PhD: Dr. Brufsky is Professor of Medicine at the University of Pittsburgh School of Medicine. Separately, BriaCell added Dr. Sidman to its scientific advisory board.
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PH | Hot Stocks09:19 EDT Parker-Hannifin appoints Parmentier as Chairman of board, Williams to retire - Parker Hannifin Corporation announced that its Board of Directors has elected Jennifer Parmentier, currently Chief Executive Officer and a Director, as Chairman of the Board, effective January 1, 2024. Parmentier will succeed Thomas Williams, Executive Chairman, who will retire on December 31, 2023, as previously announced
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CRKN | Hot Stocks09:19 EDT Crown Electrokinetics says active fiber construction underway in Arizona - Crown Electrokinetics released the following letter to its shareholders. "I wanted to take a moment and communicate with you today to let you know that we have active fiber construction underway in Arizona as part of our previously announced contract. While highly competitive bidding and contract award processes continue to preclude Crown from naming the customer, they remain one of the largest contractors in the United States with significant operations in Arizona and 19 other states. In addition to having construction underway, we are also aggressively working towards a further expansion of our customer base in Arizona, where we anticipate having multiple micro trenching projects possibly under way by the end of the calendar year. We look forward to sharing pictures and video of our current work on both our website and social media channels, in upcoming weeks. The entire team at Crown remain committed to executing the Company's business plan targeting revenue growth and ultimately, profitability. We believe that tangible results should result in a realignment of our valuation to our improving fundamentals."
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CAKE | Hot Stocks09:19 EDT Cheesecake Factory acquires 37 acre site in Charlestown, Indiana - The Cheesecake Factory announced that it has acquired a 37 acre site in Charlestown, Indiana where it plans to develop its third bakery production facility. Once constructed, the facility will produce The Cheesecake Factory's world-famous cheesecakes and signature bakery products for its restaurants and other foodservice wholesalers, retailers and distributors, in addition to providing anticipated distribution efficiencies for the Company.
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SAVA | Hot Stocks09:17 EDT Cassava Sciences says MRI data suggests simufilam not associated with ARIA - Cassava Sciences announced a potentially significant safety finding based on interim magnetic resonance imaging brain data from Alzheimer's patients who are enrolled in a Phase 3 clinical trial of simufilam. The MRI data suggest simufilam is not associated with treatment-emergent amyloid-related imaging abnormalities, or ARIA. MRIs were all analyzed for ARIA by board-certified neuroradiologists. ARIA is a medical term used to describe a spectrum of brain MRI imaging abnormalities, such as edema and brain bleeds. ARIA is also a known risk factor for Alzheimer's patients taking the class of drugs known as monoclonal antibodies directed against beta amyloid. In contrast to such class of drugs, simufilam is Cassava Sciences' small-molecule drug candidate. Oral simufilam is currently in Phase 3 clinical testing in patients with Alzheimer's disease dementia. The new safety finding is based on an independent, interim neuroradiological evaluation of brain MRIs taken at week 40 in a blinded sub-study of 180 Alzheimer's patients enrolled in Cassava Sciences' on-going 76-week Phase 3 clinical trial of simufilam in mild-to-moderate Alzheimer's. Final MRI data is expected at the conclusion of this Phase 3 study. All Phase 3 clinical data remains blinded.
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GD | Hot Stocks09:17 EDT General Dynamics expects 'strong orders' in Aerospace in Q4 - Expects more than 60 business jet deliveries in Q4 if it gets g700 certification from FAA. Says Aerospace total backlog up more than 72% compared to year-end 2020. Expects to deliver 10-12 fewer aircraft in 2023 than originally forecast. Sees FY23 CapEx "slightly below" 2.5% of sales. Comments taken from Q3 earnings conference call.
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JNVR | Hot Stocks09:16 EDT Janover launches enhanced AI capabilities for business development - Janover has added additional outbound features to its artificial intelligence platform, including autonomous agents that prospect and service new customers, generating new leads for the business, as well as beginning the process of re-engaging the Company's hundred-thousand-plus user email lists. Additionally, Janover launched chat.janover.co, a standalone AI chatbot interface optimized to enhance business development and lead generation, with the goal of helping Janover continue to scale its platform. The AI-based agent operates via chat, voice, text, and email, providing users a seamless and customer-friendly interface to facilitate complex, high-empathy conversations regarding commercial and multifamily real estate finance, as well as Small Business Administration lending. The AI answers questions, provides customer resources, and connects with backend sales tools designed to increase closure rates. The platform also extends the Company's capabilities for both lender and borrower onboarding. Its capabilities include introducing borrowers and lenders to relevant humans inside the organization, based on qualification processes within the conversation.
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AZ | Hot Stocks09:15 EDT A2Z's Cust2mate selected as smart cart supplier for Carrefour France - A2Z Smart Technologies has been selected to supply smart carts to Carrefour's Connected Cart project for its newly merged Hypermarket and Supermarket division in France, commencing with an initial delivery of 2,000 of the Company's smart shopping carts. The first phase is the delivery of 2,000 smart carts is expected in the first half of 2024 at two Carrefour hypermarket retail locations in France. The smart carts have been specially designed to meet Carrefour's specifications.
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BLZE | Hot Stocks09:14 EDT Backblaze, HYCU partner to protect workloads for hybrid cloud environments - Backblaze announced a new partnership to help protect workloads across on-prem and public cloud IT environments. Together, the two companies are offering affordable, agile data protection and recovery to customers worldwide. "With more applications in use across the modern data center, visibility and the ability to protect that mission-critical data has never been at more of a premium," said Subbiah Sundaram, Senior Vice President Product, HYCU, Inc. "Our collaboration with Backblaze now offers joint customers a cost-effective and scalable data protection solution combining the best in backup and recovery with Backblaze's streamlined and secure cloud storage." The average midsize enterprise uses upwards of 200 different sets of data or "data silos" spread across a growing number of applications, databases, and physical locations. HYCU gives customers the power to protect every byte from ransomware or other data loss events and manage all their business critical data in one place.
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EDSA | Hot Stocks09:14 EDT Edesa Biotech announces Health Canada approval of updated trial design - Edesa Biotech announced that Health Canada has approved the company's proposal to harmonize clinical trial designs in the U.S. and Canada for an ongoing Phase 3 study of EB05. Edesa's monoclonal antibody is currently being evaluated as a treatment for Acute Respiratory Distress Syndrome, a life-threatening form of respiratory failure characterized by widespread inflammatory injury to the lungs. Approximately 10% of all ICU admissions are ARDS related. The harmonized protocol calls for treatment of approximately 600 ARDS subjects hospitalized with SARS-CoV2 infections who are on invasive mechanical ventilation, both with and without additional organ support such as extracorporeal membrane oxygenation. The primary endpoint is the mortality rate at 28 days. The amended study design replaces the previous protocol which targeted a population of more than 800 subjects, with two independent cohorts and cohort-specific endpoints. Earlier this year, Edesa and the U.S. Food and Drug Administration agreed on the primary efficacy endpoint and single, smaller population for the Phase 3 study. Par Nijhawan, MD, Chief Executive Officer of Edesa Biotech said that having a single, harmonized protocol in the U.S. and Canada will facilitate enrollment, trial management and data analysis. Paridiprubart is a first-in-class monoclonal antibody developed for acute and chronic disease indications that involve dysregulated innate immune responses. This host-directed therapeutic candidate inhibits toll-like receptor 4, a key immune signaling protein that has been shown to be activated both by viruses, like SARS-CoV2 and influenza, as well as in the pathogenesis of chronic autoimmune diseases. In a Phase 2 clinical study that the company completed during the pandemic EB05 reduced mortality by 84% among critically ill patients with ARDS. A parallel in vitro study also demonstrated that paridiprubart inhibits inflammation from influenza and other pathogens. Nijhawan said that the company is also exploring various approaches to evaluate EB05 in a general, all-cause ARDS population.
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BKSY | Hot Stocks09:12 EDT BlackSky announces contracts for legacy Ministry of Defense customer, no terms - BlackSky Technology won two back-to-back contracts from a legacy international defense ministry customer to continue on-demand, real-time high-frequency imagery and analytics services and conduct research on future multi-sensor space capabilities. "BlackSky has built an unparalleled space-based intelligence platform that pushes the strategic advantage of foresight to the tactical edge within this customer's region of interest on a daily basis," said Brian O'Toole, BlackSky CEO. "With the confidence of secure, low-latency tasking-to-delivery of high-resolution imagery and analytics, our customers can call on strategic space assets to inform live operations across the full spectrum of military missions in their area of interest," O'Toole added. BlackSky delivers thousands of high-resolution images and analytics every month to organizations worldwide, delivering transparency and insights into border crossings, nuclear and port facilities, and other economically critical infrastructure at scale.
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NWVCF | Hot Stocks09:12 EDT EnWave signs R&D license agreement with Australian university - EnWave Corporation signed a Research and Development License Agreement with a major university in Australia. The University has also committed to purchasing a 10kW Radiant Energy Vacuum dehydration machine to be used at its Brisbane campus. Under the Agreement, the University will use the REV machinery for research and development purposes to propagate REV technology with key stakeholders in the food processing industry throughout Australia to help develop innovative, premium food applications. The installation of a 10kW REV machine at the University's Brisbane campus will increase accessibility to EnWave's technology in Australia by establishing a second domestic location for product trials and demonstrations.
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MTTR | Hot Stocks09:12 EDT Matterport showcases integration with AWS IoT TwinMaker - Matterport, in a recent demonstration of its integration with AWS IoT TwinMaker, digitally replicated Amazon's Executive Business Center to showcase the facilities management capabilities of the joint integration for an office environment. The integration, which became generally available in April, enables enterprise customers to seamlessly connect Internet of Things data with Matterport's visually immersive and dimensionally accurate digital twins, providing a cost-effective solution to remotely optimize building operations, production output, equipment performance, and environmental health and safety at commercial or industrial facilities.
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SKX | Hot Stocks09:10 EDT Skechers debuts inaugural line of basketball shoes - In time for the start of the NBA season, Skechers hits the hardwood with its inaugural line of technical basketball shoes. The initial wave of Skechers Basketball shoes launching next week includes two mid-top styles-SKX Resagrip and SKX Float.
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XXII | Hot Stocks09:10 EDT 22nd Century reduces debt by $8.1M - 22nd Century Group has reduced the outstanding principle of its Senior Secured Credit Facility from approximately $22.1 million to approximately $14.0 million as part of an amendment and waiver process with its lenders. The reduction reflects a waiver and repayment of the $7.5 million minimum cash balance required under terms of the original debenture agreements, which was held in an escrow account. The Company also assigned an existing promissory note pertaining to the Company's previous holdings in Panacea Life Science Holdings as additional consideration in the debt reduction transaction. In a non-monetary exchange, the assigned value of the promissory note was allocated as $600,000 to further principal reduction and $2.0 million to a reduction in the put price associated with the lenders outstanding warrants, which portion was subsequently cancelled. The remaining principal loan balance of $14.0 million and remaining $500,000 of the put price will be due at maturity in 2026 in accordance with the original terms of the debenture agreements. The Company was not required to pay any cash to the lenders in connection with this transaction. Subsequent to the debt reduction, the Company announced the consummation of a public offering with $5.25 million in gross proceeds, which will be used for general operating purposes.
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STRC | Hot Stocks09:10 EDT Sarcos Technology appoints interim Laura Peterson as permanent CEO - Sarcos Technology and Robotics Corporation announced that the Company's interim President and Chief Executive Officer, Laura Peterson, has been appointed to serve as the Company's permanent President and Chief Executive Officer. The Company also announced that Sarcos co-founder, current director and former Chief Executive Officer, Ben Wolff, has re-joined the executive team as Executive Vice Chairman. Peterson has served as interim President and Chief Executive Officer since May 2023 and has served on the Board of Directors since September 2021. She will continue to serve on the Company's Board of Directors. Wolff led the company from 2015 to 2021 as Chairman, President, and Chief Executive Officer and has served on the Company's Board of Directors since 2015, including as Executive Chairman from December 2021 to January 2023. As part of the executive team, Wolff will help evaluate and pursue strategic business opportunities, including for the Company's Advanced Technologies Division. Under Peterson's leadership, Sarcos has significantly reduced inefficiencies, optimized operations, fostered the AI/ML business, and reduced cash usage.
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FAT | Hot Stocks09:10 EDT Fat Brands, Round Table Pizza open first co-branded location - FAT Brands Inc., parent company of Fatburger, Round Table Pizza, and 16 other restaurant concepts, announces that it has officially opened its first-ever co-branded Fatburger and Round Table Pizza location in Dallas."We are beyond thrilled to introduce our first co-branded Fatburger and Round Table Pizza concept to Dallas," says Taylor Wiederhorn, Chief Development Officer of FAT Brands. "This new restaurant will allow guests to enjoy the best of both brands in one space, creating a seamless experience that caters to a range of tastes. With the success Fatburger has seen co-branding with Buffalo's Cafe and Express, we're eager to see this new venture with Round Table Pizza flourish."
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ONCT | Hot Stocks09:09 EDT Oncternal Therapeutics appoints Matthew Smith to Prostate Cancer SAB - Oncternal Therapeutics announced the addition of Matthew Smith, M.D., Ph.D. to its Prostate Cancer Scientific Advisory Board. Dr. Smith, along with the other Prostate Cancer SAB members, will help guide Oncternal's next steps in the clinical development of its novel dual-acting androgen receptor inhibitor, ONCT-534, which is currently under investigation in an ongoing Phase 1/2 clinical study, ONCT-534-101.Smith is Director of the Genitourinary Oncology Program at Massachusetts General Hospital Cancer Center and a Professor of Medicine at Harvard Medical School.
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AWRE | Hot Stocks09:08 EDT Aware, PeopleCert align to prevent proxy testing - Aware teamed up with the major player in examination and accreditation services, PeopleCert. By incorporating biometric authorization, specifically Aware's Knomi solution, PeopleCert bolstered their Know Your Customer process, showcasing to all that the security and credibility of certification procedures can be bolstered - resolving the challenge many institutions face. "Unfortunately, it can be far too easy for an expert test-taker to sit in and take an exam for someone else, which is a deceitful and illegal practice known as 'proxy testing,'" says Craig Herman, CRO, Aware. "The ease of proxy testing has increased due to online exams, e-learning and online certifications which makes the risk from it rise. This problem, whether online or in-person, can seriously impact test validity. If not stopped, it means someone can pass a test without having the requisite skills and experience - which in the worst case scenario can be very dangerous."
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MCAG | Hot Stocks09:08 EDT Mountain Crest Acquisition V announces listing transfer to Nasdaq Capital Market - Mountain Crest Acquisition Corp. V received approval from the Nasdaq Stock Market to transfer the listing of its securities from the Nasdaq Global Market to the Nasdaq Capital Market. The Company's common stock, units and rights will continue to trade under the symbols "MCAG," "MCAGU" and "MCAGR," respectively and trading of its common stock, units and rights will be unaffected by this transfer. This transfer will be effective as of the opening of business on October 27, 2023. As previously disclosed, the Company received notifications from Nasdaq indicating the Company failed to comply with certain continued listing requirements for the Nasdaq Global Market. Upon the transfer of the listing of the Company's securities to the Nasdaq Capital Market on October 27, 2023, each of the deficiencies will be resolved because the Company will no longer be subject to the continued listing requirements for the Nasdaq Global Market.
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GCMG | Hot Stocks09:07 EDT GCM Grosvenor makes investment in Excolere Equity Partners - Excolere Equity Partners announced a strategic partnership with GCM Grosvenor's Elevate strategy. Tony Miller, Managing Partner of Excolere, former Co-Founder and COO of The Vistria Group and Deputy Secretary of the U.S. Department of Education, formally launched Excolere in 2022 with long-time colleagues and fellow partners Pete Davis and Marcelus DeCoulode. Excolere is focused on the segments within the education and human capital management sector that are poised for sustained growth and reflect the transformation underway as enterprises look to recruit, upskill and re-skill their workforce, as working adults look to acquire the capabilities and credentials needed to thrive in an increasingly skills-based economy, and as our pre-K through 12 system adopts more evidenced-based and more individualized instructional approaches that improve learning outcomes.
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ATLC COF | Hot Stocks09:06 EDT Atlanticus announces appointment of Scott as SVP, Head of Co-Brand Partnership - Atlanticus (ATLC) announced the appointment of Khary Scott as Senior Vice President, SVP, Head of Co-Brand Partnership Development. Khary will lead all co-brand business development activities across traditional and emerging industry verticals. Khary's career in financial services spans over 20 years including roles at Capital One (COF), Fundbox, and Imprint leading business development including partner acquisition and portfolio sales.
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LPLA | Hot Stocks09:05 EDT LPL Financial announces CFO Essentials offering - The company said, "Once reserved primarily only for large, more complex enterprises, LPL Financial is making hiring a Chief Financial Officer more realistic for advisory firms of all sizes and stages of growth. CFO Essentials is the newest offering from LPL Business Solutions, which provides more than 3,500 advisors with access to a suite of outsourced services, strategic partners, and industry-leading resources to run a thriving business. The new CFO Essentials offering provides chief financial officer expertise to emerging firms and growth-minded advisors seeking executive-level strategic counsel. CFO Essentials delivers individualized financial benchmarking, budgeting, and forecasting strategies provided by experienced financial professionals. While LPL's flagship CFO Premium solution is designed for complex, multi-layered practices, CFO Essentials is a lower-priced, lighter-touch bundle of services providing advisors with a dedicated CFO who offers fundamental support and actionable roadmaps for optimization, growth, and efficiency. It is designed for businesses at all stages of their lifecycle, particularly those in high-growth mode who are seeking a solid financial foundation to build upon. Advisors using the CFO Premium solution have seen compelling results, including in some cases increased average annual business valuations upwards of 30%."
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FTNT | Hot Stocks09:04 EDT Fortinet expands Universal SASE offering - Fortinet announced the expansion of its Universal SASE offering to empower today's hybrid workforce with FortiOS everywhere. "The Fortinet operating system, FortiOS, is the industry's only enterprise-grade converged operating system able to support all SASE functions, including firewall, SD-WAN, secure web gateway, encryption/decryption, CASB, DLP, and ZTNA, whether deployed in an appliance or cloud-delivered from Fortinet," said Ken Xie, Founder, Chairman of the Board, and CEO. "This approach enables over 30 converged networking and security functions to be managed through a single console. 14 of these functions are accelerated when deployed on our new FortiASIC Security Processor 5-based FortiGate 120G SASE appliance."
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BK | Hot Stocks09:02 EDT BNY Mellon launches Universal FX, a foreign exchange platform - BNY Mellon announced the launch of Universal FX, a new foreign exchange, or FX, platform that meets client needs to manage execution across their entire portfolio and access market-leading price transparency. Universal FX supports BNY Mellon clients across all market segments, such as investment managers, corporates, hedge funds and wealth managers, as well as helping them navigate the industry transition to T+1 settlement. The investment management industry often manages portfolios across several providers resulting in an inconsistent FX execution experience. Through Universal FX, clients can now manage their whole portfolio, irrespective of where they custody, prime broker or settle trades. The solution provides access to Developed Market and Emerging Market currency execution, enhancing the FX experience for clients globally.
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NAT | Hot Stocks08:58 EDT Nordic American Tankers reports most recent fixtures of $40K-$70K per day - The company said, "NAT is in an excellent position. Our most recent fixtures, all to major oil companies, are in the range of $40,000 to $70,000 per day. The NAT operating costs are about $9,000 per day per ship. We call ourselves a "Dividend Company". All our actions have a main goal: To maximize dividend."
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GDYN | Hot Stocks08:49 EDT Grid Dynamics releases GenAI Intelligent Document Processing Starter Kit - Grid Dynamics introduced its GenAI Intelligent Document Processing Starter Kit. The starter kit enables manufacturing, retail, finance, and insurance companies to accelerate the automation of complex workflows that require information summarization, question answering, validation, and decision-making.
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VEV | Hot Stocks08:43 EDT Vicinity Motor receives non-compliance notice from Nasdaq - Vicinity Motor has received a notification letter from the Nasdaq Stock Market dated October 24, 2023, notifying the Company that due to its closing bid price being below $1.00 per share for 30 consecutive days, it is not in compliance with the minimum bid price requirement as set forth under NASDAQ Listing Rule 5550(a)(2) for continued listing on the NASDAQ. This press release is issued pursuant to NASDAQ Listing Rule 5810(b), which requires prompt disclosure upon the receipt of a deficiency notification. In accordance with the NASDAQ Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until April 22, 2024, to regain compliance with NASDAQ Listing Rule 5550(a)(2). To regain compliance, the Company's shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive business days, at which point the matter will be closed. In the event that the Company does not regain compliance by April 22, 2024 the Company may be eligible for an additional 180-day period to regain compliance. The receipt of the Notification Letter has no immediate effect on the listing of the Company's shares, which will continue to trade uninterrupted on NASDAQ under the ticker "VEV". The Company will monitor the closing price for its common stock during the compliance period and intends to take all reasonable measures available to regain compliance under the NASDAQ Listing Rules and to maintain the listing of its common stock on the Nasdaq Capital Market.
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SKYX | Hot Stocks08:42 EDT SKYX Platforms signs agreement with Florida developer for smart home products - SKYX Platforms signed an agreement with a Florida developer to supply approximately 1,000 homes with a variety of its advanced and smart home platform technology products. SKYX is expected to deliver approximately 30,000 units, representing a variety of its advanced and smart platform technology plug & play products, to the Floridan developer Jeremiah Baron Companies upcoming projects. Delivery is expected to start in 2024 and to continue throughout the course of the construction of the projects.
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GAIN | Hot Stocks08:41 EDT Gladstone Investment supports SFEG in acquisition of Climax - Gladstone Investment Corporation continued its support of portfolio company Specialized Fabrication Equipment Group with additional debt and equity capital to support its acquisition of CPMT Holdings Corp., and subsidiaries, including Climax Portable Machine Tools. Headquartered in Newberg, Oregon, Climax is a leading designer and manufacturer of portable machine tools, welding systems, and valve testing and repair systems. The products are used for non-discretionary, on-site, high-precision machining of critical infrastructure assets and equipment.
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NXL | Hot Stocks08:41 EDT Nexalin Technology announces formation of Military, Government Advisory Board - Nexalin Technology announced the formation of a Military & Government Advisory Board to support its non-invasive, frequency-based, deep-brain stimulation devices within U.S. government agencies. Spearheaded by David Lasseter, former Deputy Assistant Secretary of Defense for Policy and leading government affairs veteran, the Advisory Board will work closely with the Company in formulating the strategic direction and implementing the commercialization of the Company's devices. The Company welcomes the participation of David Lasseter on the Advisory Board. Lasseter is the founder of Horizons Global Solutions, where he provides consulting and advisory solutions to clients, specializing in national security, law enforcement, intelligence, and biotechnology.
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ASTI | Hot Stocks08:39 EDT Ascent Solar achieves power milestone of 1900 W/kg at AM0 using CIGS tech - Ascent Solar Technologies announced its latest CIGS technology has achieved a measured Specific Power of 1900 W/kg at AM0. Specific Power refers to the power-to-weight ratio for a system or component, specifically watts per kilogram. The Specific Power rate is the most important factor for solar applications where overall array mass is crucial, including those in the Aerospace sector, where the cost per kilogram is between 2-25k dollars to launch payloads into low earth orbit/ Higher energy orbits such as geosynchronous equatorial orbit or cislunar space typically run an order of magnitude more per kg, with payloads intended for moon landing having been booked for over $1 Million/kg.
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HEPA | Hot Stocks08:38 EDT Hepion Pharmaceuticals announces publication on rencofilstat - Hepion Pharmaceuticals announced the publication of a new research study in mice, where Hepion's lead drug candidate, rencofilstat, prevented the growth of liver tumors that occurred as a result of chronic infection with the human hepatitis C virus. The study was published in the peer-reviewed, open access scientific journal, Viruses, and was conducted by Drs. Winston Stauffer, Philippe Gallay, and colleagues at The Scripps Research Institute. Mice were infected with HCV, which caused the development of small liver nodules at around 12 weeks post-infection that progressed to very large tumors by 24 weeks post-infection. Daily rencofilstat treatment was initiated at week 0 or later time points: When initiated at week 0, rencofilstat treatment completely prevented HCC development measured at week 30 likely because the drug also blocked HCV infection and therefore eliminated a key driver of HCC development; When initiated at week 12, when tumors were in a small nodular stage, rencofilstat treatment similarly resulted in no visible nodules or tumors at week 30, suggesting that rencofilstat was able to completely regress small cancerous nodules; and When initiated at week 16, when livers contained many small-to-medium-sized nodules and tumors, rencofilstat treatment resulted in significantly decreased numbers and sizes of tumors measured at week 30, which also indicated preventative or regressive anti-tumor activity. To investigate whether some of rencofilstat's anti-HCC effects occurred independent of its anti-HCV activity, rencofilstat was compared to the anti-HCV agents sofosbuvir and velpatasvir, which belong to the recently developed direct-acting class of HCV drugs representing billions of dollars in annual sales. Sofosbuvir, velpatasvir and rencofilstat treatments initiated at week 16 all eliminated HCV infection. However, only rencofilstat decreased tumors when measured at week 30. Sofosbuvir and velpatasvir-treated mice developed the same large tumor burden as mice that received no drug treatment, whereas the tumor burden of rencofilstat-treated mice was 80% lower.
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LNZA | Hot Stocks08:38 EDT LanzaTech forms JV with Olayan Financing Company in Saudi Arabia - LanzaTech Global and Olayan Financing Company have formed a joint venture company in the Kingdom of Saudi Arabia to accelerate the commercial deployment of LanzaTech's carbon recycling technology in hard-to-abate industries within the Kingdom. The joint venture will deploy and develop projects utilizing LanzaTech's carbon recycling technology within KSA and selectively across the broader Middle East. Focusing on a region with strong decarbonization goals, this partnership intends to enable LanzaTech to deploy its commercial technology more quickly and broadly across multiple sectors using a range of waste carbon feedstocks, including waste industrial gases and solid waste feedstocks. It will also explore opportunities to further develop projects that are fully integrated with the LanzaJet Alcohol-to-Jet process to produce sustainable aviation fuel. The newly formed joint venture company will bring decarbonization solutions to multiple customers and asset owners within KSA and the broader Middle East, enabled by LanzaTech's platform.
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GROM | Hot Stocks08:36 EDT Grom Social Enterprises announces strategic alliance with JCIR - Grom Social Enterprises announced that it has entered into an advisory agreement with the Joint Commission on Interdenominational Relations, JCIR, to analyze, strengthen and achieve the highest possible social impact by utilizing all metrics available for values-based investors, including a biblically responsible investing impact score for the Company and its operations on a best efforts basis. Upon completion of the initiative, GROM will be evaluated for a BRI impact score which is based upon a scoring system that analyzes environmental, social, and governance issues from a biblical perspective. It is widely respected by values-based, social impact investors, organizations, as well as consumers to ensure that organizations they support meet and adhere to the standards of biblically responsible ideology and values. By engaging the JCIR, GROM aims to demonstrate that its four operating subsidiaries, which underscore family-friendly content and safety for children on social and educational platforms, perform within prescribed social impact goals and biblically responsible guidelines.
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FRSX | Hot Stocks08:36 EDT Foresight receives notice of allowance for 3D image analysis system patent - Foresight Autonomous Holdings has received a notice of allowance from the U.S. Patent and Trademark Office for its patent application, number 17/982,691, for "System and Method for Stereoscopic Image Analysis." The patented technology enables the generation of 3D depth perception from any given pair of cameras, even those that have different optical properties and fields of view. This capability allows for flexible cameras positioning on vehicles, and also enables vehicle manufacturers to leverage different existing cameras that could not previously be used for depth perception. This technology improves obstacle detection and enhances understanding of road conditions for advanced driver-assistance system or autonomous driving. The patented technology includes a method for automatic calibration of cameras and a computationally efficient method for calculating dense depth maps. This technology transforms a pair of cameras and a processor into a high frequency and accurate depth sensor. This patent serves as the underlying technology of Foresight's Mono2Stereo and Mono2Stereo 360 perception enhancement solutions. The Mono2Stereo and Mono2Stereo 360 solutions enhance existing vision sensor systems by using proprietary software-based algorithms to create 3D and 360 3D perception, respectively. These solutions are designed to amplify the performance of existing ADAS sensors resulting in better distance accuracy and more robust active safety features.
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REBN... | Hot Stocks08:35 EDT Reborn Coffee, Hour Loop expand partnership on Amazon - Reborn Coffee (REBN) and Hour Loop (HOUR) announced an expanded partnership to offer new Reborn branded Organic Volcanic Tea through the Amazon (AMZN) Marketplace program. The partnership with Hour Loop extends the recently announced agreement to purchase, carry and handle Reborn coffee products as well as manage listings, logistics, marketing, inventory management, price monitoring and platform integration on Amazon Marketplace. "Hour Loop's dominant position on Amazon and e-commerce expertise will be an excellent venue for the launch of our new line of Organic Volcanic Teas," said Jay Kim, Chief Executive Officer of Reborn. "We have been impressed with the team at Hour Loop as we prepare to begin offering our coffee products on their platform and believe its sales experience and expansive reach on Amazon will help to rapidly scale sales to our retail chain coming 2024."
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HMBL | Hot Stocks08:34 EDT HUMBL announces exchange of debt for preferred stock - HUMBL exchanged approximately $6.5M in debt for 8,775 shares of Series C Preferred Stock. The exchange was consummated with Sartorii, LLC, HUMBL's largest creditor. The exchange was completed as part of a concerted effort to reduce the company's outstanding debt. During the calendar year 2023, HUMBL has retired over $28M in debt.
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YARIY NVGS | Hot Stocks08:33 EDT Yara, Navigator Holdings lead investment into Azane Fuel Solutions - Yara Growth Ventures AS, the venture investment arm of Yara International ASA (YARIY), and Navigator Holdings (NVGS) announced that they have each acquired a 14.5% interest in the Norwegian startup Azane Fuel Solutions AS. Azane, a joint venture between ECONNECT Energy AS and Amon Maritime AS , both of Norway, was founded in Norway in 2020 as a company that develops proprietary technology and services for ammonia fuel handling, to facilitate the transition to green fuels for shipping. Subject to customary conditions, Azane intends to build the world's first ammonia bunkering network, with Yara Clean Ammonia already pre-ordering 15 units from Azane. The investment made by Yara and Navigator is expected to enable Azane to begin construction of its first bunkering unit for ammonia supply in Norway, aiming to kickstart the transition to zero-carbon fuels for maritime transportation. Future value creation for Azane is expected to come through international expansion with its bunkering solutions and broadening of its offerings in ammonia fuel handling technology. The parties anticipate that the commencement of operations of the bunkering units will begin in Scandinavia in 2025. The total addressable market for ammonia powered ships is estimated to equal to the entire deep sea shipping fleet of 100,000 vessels worldwide, which over time is expected to transition to zero-carbon fuels. Currently, the world of ocean shipping accounts for approximately 3% of global emissions. Azane is a commercial partner of Yara Clean Ammonia, who expects to provide clean ammonia to be stored in Azane's bunkering units once operational.
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AKBA | Hot Stocks08:33 EDT Akebia announces FDA accepted resubmission of NDA for vadadustat - Akebia Therapeutics announced the FDA has acknowledged that the resubmission to its New Drug Application, or NDA, for vadadustat as a treatment for anemia due to chronic kidney disease, or CKD, in adult patients on dialysis, was complete. The FDA has classified this as a class 2 response, which results in a six-month review period from the date of resubmission, and the FDA set a user fee goal date of March 27, 2024. Akebia's resubmission to its NDA addressed the issues raised in the complete response letter. The filing included post-marketing safety data from tens of thousands of patients in Japan where vadadustat is approved and has been on the market for more than three years. Vadadustat is currently approved for use in 35 countries.
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ACON | Hot Stocks08:33 EDT Aclarion announces signing of commercial agreement with Porter Hospital - Aclarion announced their expanded footprint in Colorado with AdventHealth Porter. Brent Ness, CEO of Aclarion, said, "In keeping with our strategy to drive Nociscan to standard of care through KOL advocacy, we applaud AdventHealth Porter in bringing Nociscan technology to Denver in support of Dr. Frey's vision to utilize our technology to improve outcomes while lowering costs. The support of pioneering leaders like Dr. Frey and AdventHealth is exactly the leadership we need to unequivocally demonstrate the superior clinical outcomes for patients that will drive coverage decisions by payers and give all patients access to Nociscan technology. We thank Dr. Frey and AdventHealth and look forward to the positive impact increasing Nociscan volumes will have on the surgical outcomes of chronic low back patients in and around the Denver community."
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IINN | Hot Stocks08:32 EDT Inspira Technologies granted U.S. patent for INSPIRA ART500 device - Inspira Technologies announced the grant of an additional patent by the U.S. Patent and Trademark Office for its respiratory medical device, the INSPIRA ART500. The newly granted patent relates to a novel automated self-priming module designed for the INSPIRA ART500 device. This unique innovative operating module further expands the INSPIRA ART500 advancement to potentially ensure patient safety with a proprietary built-in self-automated priming module aimed to ensure an emboli-free connection to the patient's vascular system, thereby potentially reducing risks of the formation of clots that reduces blood flow. The patent consists of nine distinct claims, all deemed novel with inventive merit and practical applicability. In addition to the United States, the company has initiated patent applications in Europe and several countries in other regions.
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SOBR | Hot Stocks08:28 EDT SOBRsafe partners with TV personality Jason Wahler - SOBR Safe announced its partnership with TV personality and recovery advocate Jason Wahler. Jason will provide strategic direction, industry introductions and brand exposure in support of SOBRsafe's ongoing expansion in the prevention, treatment and recovery space.
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NVGS YARIY | Hot Stocks08:24 EDT Navigator Holdings, Yara invest into Azane Fuel Solutions - Yara Growth Ventures, the venture investment arm of Yara International ASA (YARIY), and Navigator (NVGS) announced that they have each successfully acquired a 14.5% interest in the Norwegian startup Azane Fuel Solutions AS. Subject to customary conditions, Azane intends to build the world's first ammonia bunkering network, with Yara Clean Ammonia already pre-ordering 15 units from Azane. The investment made by Yara and Navigator is expected to enable Azane to begin construction of its first bunkering unit for ammonia supply in Norway, aiming to kickstart the transition to zero-carbon fuels for maritime transportation. Future value creation for Azane is expected to come through international expansion with its bunkering solutions and broadening of its offerings in ammonia fuel handling technology. Mads Peter Zacho, Chief Executive Officer, Navigator, stated: "Green ammonia is crucial to the future success of carbon free shipping, and Azane is working to provide a solution to a clear and important gap in the ammonia fuel value chain. Global ammonia demand is expected to triple by 2050, with a significant part being for ship fuel. In an increasingly strong regulatory environment towards greener fuels in the shipping industry, I am very pleased Navigator is not only making efforts to become a more sustainable business itself, but also investing in scale-ups that we believe can support and expedite the transition across our industry. We look forward to strengthening our working relationships with Yara and Azane through this partnership."
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OMF | Hot Stocks08:23 EDT OneMain Holdings sees FY23 loan net charge-offs 7.4% - Sees FY23 managed receivables growth 7%. Sees FY23 operating expense ratio 7%. Guidance taken from Q3 presentation slides.
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PETV | Hot Stocks08:21 EDT PetVivo received favorable responses from veterinarians for Spryng - PetVivo Holdings announced it received a very favorable response from veterinarians regarding the Company's innovative product Spryng, with OsteoCushion technology at the American College of Veterinary Surgeons conference held on October 11th to October 14th, 2023 in Louisville, Kentucky. Two presentations at the ACVS Conference heightened the enthusiastic interest in veterinarians to learn more about Spryng and consider its use in their practices. Finally, the Company released the completed results of a clinical study conducted by Ethos Veterinary Health at the ACVS annual conference; the clinical study examined the benefit and tolerability of an intra-articular injection of a collagen-elastin biomaterial into the stifle joint of dogs with suspected cruciate ligament rupture. The clinical study results demonstrated that there were significant improvements in all of the primary and secondary clinical variables throughout the study period. In summary, this study demonstrated that Spryng is a reasonable, non-invasive alternative for patients with cranial cruciate disease) when patient and/or owner factors preclude surgical intervention.
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FREQ | Hot Stocks08:21 EDT Korro Bio appoints Todd Chappell as COO - Korro Bio announced on July 14, 2023, the proposed business combination with Frequency Therapeutics, a publicly listed company, and its concurrent financing of approximately $117M before expenses with leading healthcare specialist investors, which is expected to close immediately prior to completion of the merger. Frequency Therapeutics' Annual Meeting of Stockholders, at which Frequency's stockholders will vote on matters related to the business combination, is scheduled for November 3, 2023. Korro Bio expects to close both the financing and merger promptly after the required approvals are obtained from Frequency's stockholders. In anticipation of the closing of the previously announced merger and as previously disclosed in Frequency's prospectus related to the merger filed with the Securities and Exchange Commission on September 29, 2023, Korro Bio announced the appointment of Tim Pearson as an independent Board member of the combined company and the Chair of its Audit Committee. This appointment will be effective upon completion of the merger. Mr. Pearson has over 30 years of healthcare experience and has served as CEO of Carrick Therapeutics since July 2019. In addition, and as previously disclosed in the prospectus related to the merger, Korro Bio announced the elevation of Todd Chappell, MBA, to the position of COO Mr. Chappell most recently served as Korro Bio's Senior Vice President, Strategy and Portfolio Planning.
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ACN TD | Hot Stocks08:19 EDT Accenture TD Bank unveil coalition with disability, IN to advance inclusion - Accenture (ACN), a leading global professional services company, and TD Bank (TD), announced the formation of a cross-industry coalition of Chief Marketing Officers CMO and Chief Communications Officers CCO powered by Disability:IN, a leading global organization driving disability inclusion and equality in business. The coalition aims to accelerate disability inclusion across the marketing and communications professions at large by delivering on six shared objectives. Coalition members include CMOs and CCOs from Disability:IN's partner companies such as Adobe, Experian and SAP.
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OPTT | Hot Stocks08:19 EDT Ocean Power awarded contract with WildAid , Caribbean Law Enforcement - Ocean Power Technologies announced they have entered a contract with WildAid and Caribbean Law Enforcement partners. This collaboration aims to protect vital marine species and combat illegal, unreported, and unregulated, IUU, fishing activities in critical habitats using OPT's state-of-the-art uncrewed technologies. Under this new agreement, OPT will provide WildAid and their Caribbean Law Enforcement partners with an OPT WAM-V 16 Uncrewed Surface Vessel equipped with an integrated quadcopter aerial drone. This cutting-edge technology will empower law enforcement agencies and conservation organizations to safeguard marine life from illegal harvesting while ensuring the sustainability of these critical ecosystems. "Ocean Power Technologies is honored to work with WildAid and Caribbean Law Enforcement on this vital initiative," said OPT CEO and President, Philipp Stratmann. "Our uncrewed technologies are a game-changer in the fight against illegal fishing. This is a natural extension of our work in the defense and offshore energy markets, and we are proud to contribute to this crucial effort to protect marine species and their habitats. We believe these kinds of autonomous deployments will also be of great interest for applications such as border protection and homeland security."
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SHOT | Hot Stocks08:18 EDT Safety Shot announces second U.S. patent issued for JW-700 - Safety Shot announced the U.S. Patent and Trademark Office has issued Patent No. US 11,766,392 for JW-700, a topical treatment designed to improve minoxidil's efficacy, marking a significant milestone in the development of treatments for androgenetic alopecia, or hair loss. This is the second U.S. patent issued for JW-700 this year and adds to the growing global IP estate for Safety Shots Legacy products. This issued patent discloses composition and methods for inducing the expression of sulfotransferases in hair follicles and expands patent protection on JW-700's new formulation. An ongoing clinical study of JW-700 in India was recently completed and is now in the final stages of analysis. "This new, broader U.S. patent, encompassing new formulations, is a crucial component of Safety Shot's ongoing pursuit of the $1.5 billion minoxidil hair loss market. Following its launch in India in July of 2023, sales of MinoxiBoost have exceeded all expectations and we expect our distribution partners will continue to deliver robust sales," stated Safety Shot's CEO Brian John. "The recently completed clinical trial is a vital next step to support a full launch of JW-700 in the U.S. and other key markets. We look forward to reporting data in the coming weeks as well as the launch of this incredible product in the USA."
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CLRB | Hot Stocks08:17 EDT Cellectar Biosciences announced a partnership with FCS - Cellectar Biosciences announced a partnership with Florida Cancer Specialists & Research Institute, FCS, a world-class cancer care organization serving oncology patients throughout the state of Florida. Through this partnership, Cellectar and FCS will evaluate and further define unmet needs that exist across the Waldenstrom's macroglobulinemia treatment landscape within the community oncology setting to advance patient care. "We are extremely pleased to be partnering with FCS, which shares our patient-centric vision and alignment on the unique benefits and significant potential of radiotherapeutics. This collaboration will help us to better understand patients' and health care providers' needs across the WM treatment landscape as we prepare for the potential launch of iopofosine I 131," said James Caruso, president and CEO of Cellectar. "This partnership with FCS represents the first of several strategic collaborations we plan to establish with leading community based cancer care networks to facilitate and ensure patient access and clinical success with iopofosine."
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TU | Hot Stocks08:16 EDT Telus achieves ISO 31700-1 Privacy By Design certification - The company said, "TELUS has marked a historic milestone by becoming the first company in the world to achieve the ISO 31700-1 Privacy by Design certification. This achievement substantiates TELUS' commitment to safeguarding privacy and advancing the principles of trustworthy data practices across Canada and beyond."
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FEMY | Hot Stocks08:15 EDT Femasys to showcase FemBloc, other products at AAGL meeting - Femasys will highlight its product candidate in late stage clinical development, FemBloc, as well as showcase three of its marketed products advancing women's health, FemVue, FemCath and FemCerv, at the annual meeting of the American Association of Gynecologic Laparoscopic Surgeons being held in Nashville, Tennessee from November 5-8, 2023. The annual AAGL meeting gathers laparoscopic surgeons worldwide dedicated to the research and advancement of minimally invasive gynecologic procedures. Femasys is creating accessible innovative options for women, as exemplified by its lead product candidate, FemBloc in late-stage clinical development for permanent birth control and its United States Food and Drug Administration cleared product, FemaSeed for infertility treatment that is also approved in Canada. The Company is also commercializing complementary diagnostic products, FemVue, FemCath and FemCerv, all of which were internally developed through its in-house manufacturing capabilities, with regulatory approvals in the U.S., Canada and other ex-U.S. territories.
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AWH | Hot Stocks08:15 EDT Aspira Women's announces poster on miRNA-based ovarian cancer test - Aspira Women's Health announced that a poster on an in-development miRNA-based ovarian cancer test was presented at the AACR Special Conference in Cancer Research: Ovarian Cancer, held on October 5, 2023 in Boston, MA. The test is expected to be launched as a part of the Company's OvaSuite portfolio in collaboration with a consortium of world-renowned academic researchers under a previously announced licensing agreement. The study showed the addition of miRNA improved the detection of early-stage ovarian cancers, and that diagnostic performance improved even further when using a combination of approaches, including miRNA, proteins and metadata. The data suggest that using combined approaches could improve the triaging of patients with suspected ovarian cancers. Nicole Sandford, President and Chief Executive Officer of Aspira Women's Health said, "We are very pleased to see such promising initial findings from our collaboration with the Dana-Farber Cancer Institute. The analysis shows the potential for improving ovarian cancer diagnostics by combining our trusted technology with miRNA. It is exactly findings like these that give us hope that one day we will be able to detect ovarian cancer before it has progressed to its deadliest stages."
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CYBN | Hot Stocks08:15 EDT Cybin announces grant of two US patents protecting deuterated DMT program - Cybin announced that the United States Patent and Trademark Office has issued two patent grants that offer protection for its deuterated N, N-dimethyltryptamine program. The granted patents protecting the Company's deuterated DMT program are: United States patent no. 11,771,681, which provides composition of matter protection for certain deuterated analogs of DMT; and United States patent no. 11,773,062, which provides protection for the medical use and the novel, efficient and scalable synthesis of certain analogs of DMT. Cybin's proprietary novel deuterated DMT compounds, CYB004 and SPL028, are each currently in Phase I clinical trials. CYB004 and SPL028 target an extended DMT psychedelic experience while retaining a short-duration drug profile that could provide optimized dose formulations for different administration routes and distinct therapeutic benefits for patients. Preliminary findings from the studies demonstrate that IV CYB004 and SPL028 elicit a psychedelic experience of less than 1 hour and are well-tolerated. Topline data readouts from both studies are expected in Q4 2023. "Following Cybin's recent acquisition of Small Pharma Inc., our development programs are protected by 32 granted patents and over 170 pending applications, establishing our leadership position in developing novel tryptamine-based therapeutics in a key market. This multi-layered and robust IP protection includes composition of matter, medical use, synthesis and drug product protection, providing us with the latitude to advance our deuterated programs with confidence," said Doug Drysdale, Cybin's Chief Executive Officer.
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FOUR | Hot Stocks08:13 EDT Shift4 Payments partners with Zero Hash to build one stop fiat, crypto solution - Zero Has announced that Shift4, an Integrated Payments and Commerce Technology platform, has leveraged Zero Hash's full-stack API to build a fiat-to-crypto on-ramp for web3 merchants. Highlights: Shift4 has embedded Zero Hash's turnkey crypto infrastructure to offer web3 merchants a one stop fiat and crypto solution; Shift4 has leveraged Zero Hash's customer identity-verification-as-a-service to safely and compliantly onboard users to crypto services; Shift4 uses Zero Hash's full API stack to enable merchants to embed and customize a fiat-to-crypto on-ramp, natively into their checkout flow.
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ADIL | Hot Stocks08:12 EDT Adial Pharmaceuticals hosts KOL webinar on alcohol use disorder - Adial Pharmaceuticals hosted a virtual key opinion leader webinar with addiction experts Joseph Volpicelli, M.D., Ph.D., Executive Director and Founder of the Volpicelli Center; and Jonathan Hunt-Glassman, MBA, Chief Executive Officer and Co-founder of Oar Health, to discuss alcohol use disorder, the current treatment landscape, and the need for non-abstinence-based therapeutics. Both experts are nationally recognized for their efforts in providing improved treatment options to patients with AUD. The key opinion leaders emphasized that there is a substantial patient need for medications to treat AUD, yet current medications are not being prescribed or utilized by most treating physicians. There are only three FDA-approved medications for the treatment of AUD, and of the approximately 30 million individuals with AUD, only about 0.1% are given a prescription for one of these medications. Among the patients in treatment with these medications, adherence is a significant concern, with side effects being a common reason given for stopping the medication. To improve engagement in medical treatment, the key opinion leaders expressed the belief that barriers to treatment could be reduced by giving people additional options such as non-abstinence-based therapies. A non-abstinence-based treatment approach will provide patients with the power to choose more realistic goals of reducing alcohol consumption rather than abstinence. Reductions in excessive drinking, even without complete abstinence, can have a major public health impact on morbidity and mortality associated with AUD.
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RANI | Hot Stocks08:12 EDT Rani Therapeutics announces preclinical data on RaniPill platform - Rani Therapeutics announced preclinical data supporting the safety and tolerability of the RaniPill drug delivery platform following 60-day repeat administration. In the 60-day good laboratory practices study in healthy animals, the RaniPill(R) capsule was well-tolerated with no treatment-related adverse events. "The preclinical data announced today are highly encouraging and we believe these data further validate the safety and tolerability of our RaniPill(R) drug delivery platform," said Mir Hashim, PhD, Chief Scientific Officer of Rani. "Our platform has the potential to offer an oral delivery option for drugs otherwise only available as injections and is drug-agnostic with the opportunity for application across a wide range of biologics. The data from this 60-day GLP study further bolster the safety database supporting the RaniPill(R) capsule and enable the launch of longer-term clinical trials of Rani's pipeline programs, including our Phase II study of RT-102 for osteoporosis which we plan to initiate in 2023." The preclinical GLP study evaluated the safety and tolerability of the RaniPill drug delivery platform, following 60-day repeat oral administration of the test article, RT-100. RT-100 was well-tolerated with no treatment-related adverse events and all animals remained clinically healthy throughout the study.
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CNTA | Hot Stocks08:11 EDT Centessa announces preclinical data from in vivo, in vitro studies of ORX750 - Centessa Pharmaceuticals announced a robust set of new preclinical data from in vivo and in vitro studies of its investigational, novel orexin receptor 2 agonist, ORX750, that support its potential best-in-class profile for the treatment of narcolepsy and other sleep-wake disorders. The preclinical data will be featured in an oral presentation by Sarah Wurts Black PhD, Head of Biology for Centessa's Orexin Agonist Program, entitled, "ORX750, an Oral Selective Orexin Receptor 2 Agonist, Promotes Wakefulness and Reduces Cataplexy in the Orexin/Ataxin-3 Mouse," at the World Sleep Congress in Rio De Janeiro, Brazil. Overview of ORX750 Preclinical Results: ORX750 is a full OX2R agonist that potently activated the OX2R with an in vitro EC50 of 0.11 nM and 9,800-fold selectivity over the human orexin receptor. In highly predictive, translational Atax and DTA mouse models, oral administration of ORX750 showed significant activity at the lowest dose tested, which was 0.1 mg/kg in a DTA mouse model, 0.3 mg/kg in an Atax mouse model, and 1 mg/kg in healthy wild type mice. ORX750: Achieved maximal wake time for at least 3 hours post-dose; Suppressed cataplexy for at least 6 hours post-dose; Increased latency to sleep and cataplexy, which was maintained for greater than14 days of dosing; and, Increased consolidation of wakefulness.
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NVRI | Hot Stocks08:11 EDT Enviri's Clean Earth recycled 8.7B pounds of waste in 2022 - Clean Earth, a division of Enviri Corporation, increased recycling of hazardous and non-hazardous waste by 53% last year, according to the Company's newly released Environmental, Social, and Governance report. Clean Earth recycled 8.7 billion pounds of waste in 2022, including hazardous and non-hazardous waste, contaminated soil, dredge material, universal waste, and e-waste. Clean Earth doubled the amount of non-hazardous waste it recycled and increased the amount of hazardous waste it recycled by 41%. The Company increased the amount of wastewater it recycled by 84%. "Clean Earth is proud of the fact that we recycled the equivalent of almost two million cars last year, ensuring that we are reusing and repurposing hazardous, non-hazardous, and contaminated waste rather than landfilling it," said Jeff Beswick, President of Clean Earth. "We are transforming the world's largest waste streams into valuable recycling opportunities, helping support a circular economy and benefiting our planet and future generations. While we are proud of our progress, we understand this is a journey and will continue to expand and enhance our capabilities while making the world cleaner and greener."
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AVXL | Hot Stocks08:10 EDT Anavex reports new publication on potential of ANAVEX 3-71 - Anavex Life Sciences reported a new peer-reviewed publication in the journal Neurobiology of Aging, titled "Early treatment with an M1 and sigma-1 receptor agonist prevents cognitive decline in a transgenic rat model displaying Alzheimer-like amyloid pathology", featuring the orally available small molecule ANAVEX3-71. This study ascertains potential disease-modifying properties of ANAVEX3-71 on Alzheimer's disease pathology and could be a drug candidate for a once daily oral preventive strategy. In this publication, transgenic rats that develop AD-like symptoms as they age were treated with ANAVEX3-71 for 7-months before they developed amyloid plaques, followed by a 4-week washout period. Preventative treatment with ANAVEX3-71 reduced levels of insoluble and soluble amyloid-beta as well as plaque deposition in the aging cortex and hippocampus, areas heavily impacted by AD. Notably, the reduction in amyloid pathology was accompanied by a reduction in inflammatory glial activity which is connected to the disease cascade in AD and other dementias. ANAVEX3-71 treatment downregulated the proinflammatory IL-1beta and IL-6 cytokines, which are known to be associated with AD. Additionally, ANAVEX3-71 treatment boosted brain derived neurotrophic factor which reinforces the evidence that ANAVEX3-71 protects neurons. Importantly, these beneficial effects were sustained after a month-long drug washout. The publication is consistent with previous scientific findings.
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IMMP | Hot Stocks08:07 EDT Immutep receives A$1,134,882 R&D tax incentive - Immutep Limited announces that it has received a A$1,134,882 cash rebate from the Australian Federal Government's R&D tax incentive program. The cash rebate provided in respect of expenditure incurred on eligible R&D activities conducted in the 2022 fiscal year, mainly related to the Company's TACTI-002 and TACTI-003 clinical study using its lead compound eftilagimod alpha, conducted in Australia. Immutep also receives the French CIR tax incentive through its subsidiary Immutep S.A.S in respect of expenditure incurred on eligible R&D activities conducted in the European Union. Immutep will apply the non-dilutive funding towards furthering its current active clinical trial programs for its lead product candidate, efti. The expected cash reach of the Company extends into early calendar year 2026.
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SHLS LDOS | Hot Stocks08:06 EDT Shoals Technologies to deploy Fuel by Shoals eMobility for Air Force - Shoals Technologies (SHLS) announced that the Company will deploy its Fuel by Shoals eMobility solution for the U.S. Department of the Air Force. The Fuel by Shoals deployment supports an EV Charging-as-a-Service pilot project to be provided by Leidos (LDOS), a FORTUNE 500 science and technology leader, to the Department of the Air Force. Leidos will design and implement a modern, resilient, scalable and secure power infrastructure solution to provide the necessary resources for the Air Force's fleet of non-tactical vehicles to be charged and ready for use at multiple installations across the continental United States. "As a 'Made in Tennessee' company, we are incredibly proud to work with Leidos on this first-of-its-kind deployment for U.S. Air Force," said Jeff Tolnar, President of Shoals. "Fuel by Shoals is the ideal solution to cost-effectively support the Air Force's Climate Action Plan and we are excited to play a role in helping the Air Force achieve their net-zero goals."
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AIXI | Hot Stocks08:06 EDT Xiao-I appoints Fangzhen Lin as Chief Scientific Advisor - Xiao-I announced the appointment of Professor Fangzhen Lin as its Chief Scientific Advisor. Professor Lin, a globally recognized scientist and authority in the AI field, will provide invaluable momentum to Xiao-I's ongoing technological advancements. Lin holds an exceptional academic background, currently serving as a Professor in the Department of Computer Science and Engineering at the Hong Kong University of Science and Technology and a fellow at the Association for the Advancement of Artificial Intelligence. His research expertise focuses on AI cognition and reasoning. He earned a bachelor's degree in software from Fuzhou University in 1983, a master's degree in AI from Peking University in 1986, and a Ph.D. in AI from Stanford University in 1991. Additionally, he has chaired or been a member of program committees for several top international conferences in the AI field.
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LCUT | Hot Stocks08:06 EDT Lifetime Brands announces launch of amendment, extension to term loan B facility - Lifetime Brands announced plans to launch an Amendment & Extension of the Company's existing Term Loan B facility due 2025 through an extended maturity of August 2027. The transaction will be approximately net leverage neutral on a pro-forma basis.
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NVVE BLBD | Hot Stocks08:05 EDT Nuvve Holding and Blue Bird replace Martinsville ISD's diesel fleet - Nuvve Holding (NVVE) and Blue Bird (BLBD) have replaced the Martinsville Independent School District's, or ISD, diesel fleet with five Blue Bird Vision electric buses, five Nuvve Level II chargers and the innovative AI-powered Nuvve FleetBox 2.0 charge management software. Martinsville ISD Principal Keith Kimbrough commented: "We're a small district but proud to be leading the way on sustainable and clean commutes for Texas school children." Kimbrough secured a $1.58M Clean School Bus grant from the U.S. Environmental Protection Agency in October 2022 to help underwrite the project. He also partnered with Rush Truck Centers as dealer, Blue Bird for the fleet and Nuvve K-12 to consult and provide the right chargers and software for the district's routes and daily charging needs.
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DDD | Hot Stocks08:05 EDT 3D Systems announces additional restructuring phase for annualized savings - In light of these results and continuing macro-risks, the company announced the next evolution of its restructuring initiative designed to improve operating efficiencies throughout the organization and drive long-term value creation. This additional phase of the restructuring initiative will target to deliver expected annualized savings of $45 - $55 million by the end of 2024, with the majority of the cost takeout to occur by the end of the first quarter of 2024. The initiative is primarily targeted at continuing to rationalize headcount and geographic locations in all functions across the company. These efforts are expected to streamline the overall organization and reduce operating costs, while continuing to improve customer quality, and delivery reliability. Importantly, these cost actions are designed to preserve key investments in new product development, results of which are expected to include the release in 2024 of a number of highly innovative new production printing platforms and advanced engineering materials needed to meet anticipated customer needs in the years ahead. The net result of these actions will drive near-term profitability and cash performance, while supporting exciting long-term growth as additive manufacturing continues to penetrate production environments around the world.
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R | Hot Stocks08:05 EDT Ryder announces two new share repurchase programs - Ryder announced its board of directors has authorized two new share repurchase programs. Under the new discretionary repurchase program, Ryder management is authorized to repurchase up to 2M shares of common stock, at its discretion, from October 12 through October 12, 2025. This program is designed to provide management with capital structure flexibility while concurrently managing objectives related to balance sheet leverage, acquisition opportunities, and shareholder returns. Our previously authorized 2M share discretionary repurchase program, authorized in February , was completed in September. Under the new anti-dilutive repurchase program, Ryder management is authorized to repurchase up to 2M shares of common stock from October 12, through October 12, 2025, that have been issued to employees under the company's employee stock plans since August 31. This program is designed to mitigate the dilutive impact of shares issued under the company's employee stock plans. The new program replaced the company's 2021 anti-dilutive program, which expired on October 14.
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RPHM | Hot Stocks07:53 EDT Reneo Pharmaceuticals announces poster presentation on mavodelpar - Reneo Pharmaceuticals announced the company will present a poster titled "Selective peroxisome proliferator-activated receptor delta agonist, mavodelpar, improves cellular bioenergetics in fibroblasts from patients with mitochondrial complex I deficiency" at the following upcoming scientific meetings. PittGene Meeting; Date: Wednesday, October 25, 2023, at 2:00-2:45pm ET. Translational Research in Mitochondria, Metabolism, Aging and Disease Meeting 2023; Date: Monday, November 6, 2023, at 5:30-7:00pm ET. In this presentation, Reneo and collaborators will report findings which demonstrate that the bioenergetic deficiencies and mitochondrial dysfunction observed in CI-deficient patient fibroblasts can potentially be alleviated by treatment with mavodelpar, a potent and selective PPARdelta agonist. Furthermore, because mavodelpar activation results in increased transcription of genes involved in mitochondrial biogenesis, fatty acid oxidation and energy production in the form of ATP, these results provide mechanistic evidence for the potential of mavodelpar as a therapeutic option in this and similar types of primary mitochondrial myopathies.
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J | Hot Stocks07:47 EDT Jacobs selected by Harris County METRO's transit program - Jacobs has been selected as Owner's Advisor for the Metropolitan Transit Authority of Harris County's, or METRO, Joint Development and Transit Oriented Development program in Houston, Texas. METRO selected Jacobs as part of a county-wide initiative to leverage its regional transit properties with private investment to increase ridership, enhance the transit experience and improve connectivity for Houston's 2.3M residents. Jacobs will provide comprehensive consulting for planning and real estate management services to meet METRO's mobility and development needs. METRO is currently developing a Joint Development framework to move forward with significant development opportunities at multiple Harris County METRO properties. Jacobs teams with local firms including The Goodman Corporation, Jones Lang LaSalle, Outreach Strategists, Isani and Winstead for comprehensive Houston-area real estate, development expertise, and stakeholder engagement, comprising a trusted Houston-based team.
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NOG | Hot Stocks07:46 EDT Northern Oil and Gas closes on eight Ground Game transactions during Q3 - The Company closed on eight Ground Game transactions during the third quarter of 2023, concentrated in the Permian Basin. The transactions are expected to add 5.7 net in-process and future drilling locations and approximately 514 net acres...NOG also experienced accelerated well proposal activity in the third quarter, driven by improved commodity prices. Gross consents were up over 35% sequentially in the third quarter compared to the second quarter, and up over 15% in the first nine months of 2023 compared to the same period of 2022. The Company turned in-line an estimated 22.6 net wells during the third quarter compared to 13.8 net wells in the second quarter, a 64% sequential increase. ..Higher capital expenditures in the third quarter were in part driven by both atypically higher completion status for the WIPs combined with the D&C list increasing by over 9% during the quarter. Ground Game success and the increase in development activity are expected to result in capital expenditures in the range of $215 to $218M for the third quarter, excluding non-budgeted acquisitions and other, lower than the second quarter, but higher than previously expected. The increased capital spending in the third quarter, both organic and Ground Game, was primarily focused on 2024 turn-in-line activity.
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NOG | Hot Stocks07:43 EDT Northern Oil and Gas sees Q3 DD&A rate 14.20 - $14.25 per Boe. - For the third quarter, the DD&A rate is expected to be $14.20 - $14.25 per Boe. The increase to the DD&A rate versus the second quarter is primarily driven by the closing of the Novo acquisition in the third quarter, and is in line with prior expectations. The Company enters into derivative agreements to hedge a portion of its commodity pricing exposure and makes mark-to-market fair value adjustments each quarter to the unrealized value of its unsettled commodity derivative portfolio. For the third quarter of 2023, mark-to-market losses on unsettled commodity derivatives are estimated to be approximately $205 million. Total net gains on settled commodity derivatives for the third quarter are estimated to be approximately $5M. Since its second quarter earnings release, NOG has added hedges for approximately 2.4 MMBoe of oil and 10.9 MMBtu of natural gas in the form of puts, costless collars and swaps for Q4-2023 through 2026, in addition to region-specific basis hedges. "As we enter the fourth quarter, we continue to focus capital on growth opportunities for next year and beyond," commented Nick O'Grady, NOG's CEO. "Our singular focus remains on executing on high return opportunities. In keeping with our practice, we have used recent commodity price strength to layer in additional oil and natural gas hedges, along with additional basis hedges, to protect our underwritten returns as we deploy capital." "We had significant, counter-seasonal success in the Ground Game, especially early in the third quarter when oil prices were significantly lower," commented Adam Dirlam, NOG's President. "These projects should, at today's pricing, deliver significantly higher returns than we originally underwrote. Additionally, we've seen notable increases in our Permian well proposal activity as commodity prices have improved. All of this points to increased growth prospects for 2024 and beyond."
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BA | Hot Stocks07:35 EDT Boeing says 787 program is now transitioning production to five per month - Commercial Airplanes third quarter revenue increased to $7.9B driven by higher 787 deliveries. Operating margin of (8.6) percent also reflects lower 737 deliveries as well as abnormal costs and period expenses, including research and development. On the 737 program, during the quarter a supplier non-conformance was identified on the aft pressure bulkhead section of certain 737 airplanes. This is not an immediate safety of flight issue and the in-service fleet can continue operating safely. Near-term deliveries and production will be impacted as the program performs necessary inspections and rework, and the company now expects to deliver 375-400 airplanes this year. On production, suppliers are continuing with planned rate increases, and the company expects to complete the final assembly transition to 38 per month by year-end, with plans to increase to 50 per month in the 2025/2026 timeframe. The estimated cost associated with performing the rework is immaterial and included in third quarter results.The 787 program is now transitioning production to five per month and plans to increase to 10 per month in the 2025/2026 timeframe. The program still expects to deliver 70-80 airplanes this year. During the quarter, Commercial Airplanes booked 398 net orders, including 150 737 MAX 10 airplanes for Ryanair, 50 787 airplanes for United Airlines, and 39 787 airplanes for Saudi Arabian Airlines. Commercial Airplanes delivered 105 airplanes during the quarter and backlog included over 5,100 airplanes valued at $392 billion.
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OPRX | Hot Stocks07:35 EDT OptimizeRx announces completion of Medicx acquisition - OptimizeRx announced it has successfully completed its acquisition of Healthy Offers, dba Medicx Health. The two companies will operate independently through 2023 with full integration during the first quarter of 2024. With the closing of the Medicx acquisition, the Company will expand its executive team with the addition of Medicx's President, Theresa Greco, becoming the Chief Commercial Officer of OptimizeRx. Steve Silvestro will step into a new role as President, leading all aspects of corporate strategy and daily business management. No other leadership changes will occur at the executive level.
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BA | Hot Stocks07:34 EDT Boeing CEO says 'we remain on track' to meet financial goals for the year - "We continue to progress in our recovery and despite near-term challenges, we remain on track to meet the financial goals we set for this year and for the long term," said Dave Calhoun, Boeing president and CEO. "We are focused on driving stability in our supply chain and improving operational performance as we steadily increase production rates to meet strong demand. The important work we're doing to add rigor around our quality systems and build a culture of transparently bringing forward any issue, no matter the size, can bring short-term challenges - but it is how we set ourselves on the right course for our long-term future. Leading with safety, quality and transparency, we will continue to restore our operational and financial strength."
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PZZA | Hot Stocks07:33 EDT Papa John's announces limited return of Shaq-a-Roni pizza in Caada - Papa Johns announced the limited-time return of its popular Shaq-a-Roni pizza in Canada, developed in partnership with board member, franchisee and former basketball superstar, Shaquille O'Neal. The extra-large pizza with a purpose is back for its fourth year. Today through December 31st, 2023, $1 from every Shaq-a-Roni sold will go to the Canadian food rescue program Second Harvest. Every dollar will supply three healthy meals to people and agencies in need.
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BA | Hot Stocks07:33 EDT Boeing reports total company backlog of $469B, including over 5,100 airplanes
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BA | Hot Stocks07:32 EDT Boeing still expects to deliver 70-80 787s - Now expects to deliver 375-400 737 airplanes.
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AAU | Hot Stocks07:32 EDT Almaden Minerals announces extension of cure period for NYSE American listing - Almaden Minerals announces that, further to its press release of April 21, 2023, it has received an extension of its cure deadline from October 19, 2023 to April 19, 2024. As previously announced, Almaden is not in compliance with the continued listing standards of the NYSE American exchange because the Company's securities have been selling for a low price per share for a substantial period of time which NYSE American determines to be a 30-trading-day average price of less than 20c per share. The Company's continued listing on the NYSE American exchange is predicated on it demonstrating sustained price improvement within a reasonable period of time which the staff has determined to be no later than April 19, 2024. Almaden is considering its alternatives with respect to the requirement that it regain compliance with the NYSE American's continued listing standards within the New Cure Deadline.
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BA | Hot Stocks07:31 EDT Boeing backs FY23 operating cash flow $4.5B-$6.5B; free cash flow $3B-$5B
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GSK | Hot Stocks07:12 EDT GSK announces preliminary results from phase III trial of AREXVY - GSK announced positive preliminary results from its phase III trial evaluating the immune response and safety of AREXVY in adults aged 50 to 59, including those at increased risk of respiratory syncytial virus, RSV, lower respiratory tract disease, LRTD, due to certain underlying medical conditions. These results will be presented at the US Centers for Disease Control and Prevention's, CDC, Advisory Committee on Immunization Practices, ACIP, meeting on October 25, 2023. This vaccine is currently approved in the US for active immunization for the prevention of RSV-LRTD in adults 60 years of age and older. It is also approved in Europe, Japan, and several other countries. Tony Wood, Chief Scientific Officer, GSK, said: "This trial reinforces our confidence in our RSV vaccine's ability to help protect adults aged 50 to 59 at increased risk for RSV-LRTD. We will submit these data for regulatory review as quickly as possible with the goal of offering adults in this age group the option of a vaccine for the first time."
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GTBIF | Hot Stocks07:10 EDT Green Thumb Industries to open RISE Dispensary in Florida - RISE Dispensaries, a cannabis retail chain owned by Green Thumb Industries, announced that RISE Dispensary Sun City Center, the Company's tenth retail location in Florida and 86th nationwide, will open on October 27th. "As we near five years of caring for medical cannabis patients in Florida, we are excited to expand our presence to ten locations in the state with the opening of RISE Sun City Center," said Green Thumb President Anthony Georgiadis. "Our team is passionate about building strong relationships with the communities we serve, and we look forward to supporting Minorities for Medical Marijuana as part of our new store opening charity donation tradition."
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XRTX | Hot Stocks07:09 EDT Xortx Therapeutics reschedules special meeting of shareholders - XORTX Therapeutics announces that the special meeting of shareholders that was scheduled for 10:00 a.m. on October 25, 2023 has been cancelled and will be rescheduled. The Meeting had been called for shareholders to consider a consolidation of the Company's issued and outstanding shares in order for the Company to regain compliance with the continued listing requirements for the NASDAQ Capital Market. As a result of the significant share volume during the past 30 days, XORTX believes that its shareholder base changed materially and is more aligned with US investors with a preference for a NASDAQ listing. In addition, the Company has become aware of potentially unusual proxy solicitation activities by a Canadian based investment advisor and that the Company believes provided misleading information to shareholders. The Company has provided details of these potentially unusual proxy solicitation efforts to the regulatory authorities in Canada for investigation. The Company continues to believe that a NASDAQ listing is important to provide greater liquidity for investors and will continue to greatly assist the Company as it seeks funding for its future clinical and commercial milestones and other activities. Further updates on a date for a rescheduled meeting will be provided as soon as such details are available.
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BTAI | Hot Stocks07:09 EDT BioXcel announces positive findings from independent third party audit - BioXcel Therapeutics announced positive findings from an independent third party audit of the data from a single site in its TRANQUILITY II Phase 3 trial. Conducted by a well-regarded regulatory and quality consulting firm, the independent audit consisted of a comprehensive review of records from over 50% of subjects enrolled at the single trial site to identify any additional instance of misconduct or fraud and to evaluate data integrity and reliability for eligibility, safety, and efficacy data. This sample size provides 95% confidence that the data reviewed is a representative sample. Following an extensive review, the team of auditors did not identify any findings that they believe impact the data reliability or integrity, nor did they find any evidence of additional misconduct or fraud. Based on these findings, BioXcel Therapeutics believes that the positive, statistically significant TRANQUILITY II trial data announced in June 2023 potentially support a supplemental new drug application for BXCL501 for the acute treatment of agitation associated with dementia in probable Alzheimer's disease.
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MDNA | Hot Stocks07:08 EDT Medicenna doses first patient in Phase 2 dose expansion of Phase 1/2 ABILITY - Medicenna Therapeutics announced dosing of the first patient in the Phase 2 monotherapy dose expansion portion of the Phase 1/2 ABILITY study evaluating MDNA11, a long-acting, beta-only interleukin-2 super-agonist. "We are excited to dose our first patient in Phase 2 clinical trial as we build critical momentum for MDNA11, a potentially best-in-class, next-generation IL-2 super-agonist for the treatment of advanced solid tumors," said Fahar Merchant, Ph.D., President and CEO of Medicenna. "Dosing the first patient in the Phase 2 monotherapy dose expansion portion of the ABILITY study is an important milestone that follows encouraging therapeutic activity and tolerability observed during the Phase 1 dose escalation study. Having established the optimal dosing regimen, we look forward to reporting initial results from the monotherapy and combination arms of the Phase 2 dose expansion portion of the study in the first half of 2024. The combination arm of the trial evaluating MDNA11 with pembrolizumab is expected to commence by the end of this year." In the Phase 1 monotherapy dose escalation portion of the study, which evaluated 20 patients, MDNA11 was well tolerated with promising single-agent activity. As of the data cutoff date of June 20, 2023, responses included one confirmed durable partial response in a heavily pretreated patient with metastatic pancreatic cancer who continues on treatment with MDNA11 and six patients with stable disease. Of note, one patient with melanoma experienced prolonged stable disease, which lasted over 1.5 years.
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LTRX | Hot Stocks07:07 EDT Lantronix announces expansion of embedded product line - Lantronix announced the expansion of its embedded product line to support the evolving needs of the automotive industry. Based on Qualcomm Technologies' latest generation of Snapdragon Ride and Cockpit Platforms, including the latest Snapdragon Ride Flex Platform, Lantronix's new Snapdragon Ride SX Automotive Development Platform is designed to enable the rapid creation of customizable infotainment, cluster and driver monitoring systems.
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DGX | Hot Stocks07:06 EDT Quest Diagnostics announces collaboration with Diadem SpA - Diadem SpA, a company developing one of the first blood-based tests for the early and accurate prediction of clinical progression to Alzheimer's disease, announced that it has formed a strategic collaboration with Quest Diagnostics designed to improve access to high quality blood tests for evaluating the risk of Alzheimer's disease. Under terms of the agreement, Diadem has licensed exclusive U.S. rights to the intellectual property of its AlzoSure Predict blood-based prognostic technology to Quest for the purpose of developing, validating and marketing a laboratory-developed test service for providers and patients in the U.S. Financial details of the agreement were not disclosed. The U.S. FDA granted the AlzoSure test Breakthrough Device Designation in January 2022. The test helps identify a variant of the p53 protein that is implicated in AD.
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NGD | Hot Stocks07:06 EDT Talisker signs ore sale LOI for Bralorne Gold Project with New Gold - Talisker Resources announced that the Company has signed a non-binding LOI with New Gold to enter into an ore purchase agreement in respect of Talisker's Bralorne Gold Project. The parties will use commercially reasonable efforts to diligently and in good faith negotiate and enter the Ore Purchase Agreement whereby New Gold proposes to purchase up to 300,000 tonnes of ore from the Project to process at the mill located at its New Afton Mine.
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CME | Hot Stocks07:04 EDT CME Group reports Q3 ADV 22.3M contracts - Third-quarter 2023 average daily volume was 22.3M contracts. Non-U.S. ADV reached 6.5M contracts, up 7% from third-quarter 2022, including 16% growth in interest rates and double-digit growth across agricultural, energy and metals products.
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GD | Hot Stocks07:01 EDT General Dynamics reports Q3 net cash from operations $1.3B
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GD | Hot Stocks07:01 EDT General Dynamics reports Q3 record-high $95.6B backlog, 1.4-to-1 book-to-bill
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TMUS | Hot Stocks06:59 EDT T-Mobile narrows FY23 adjusted EBITDA view to $29B-$29.2B from $28.9B-$29.2B - Postpaid net customer additions are expected to be between 5.7 million and 5.9 million, an increase from prior guidance of 5.6 million to 5.9 million. Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $29.0 billion and $29.2 billion, an increase from prior guidance of $28.9 billion to $29.2 billion. Merger synergies are expected to be approximately $7.5 billion. Merger-related costs are expected to be approximately $1.0 billion before taxes. These costs are excluded from Core Adjusted EBITDA but will impact Net income, Net cash provided by operating activities and Adjusted Free Cash Flow. Net cash provided by operating activities, including payments for Merger-related costs, is expected to be between $18.3 billion and $18.5 billion, an increase from prior guidance of $18.0 billion to $18.3 billion. Cash purchases of property and equipment, including capitalized interest, are expected to be between $9.6 billion and $9.8 billion, an increase from the prior guidance of $9.5 billion to $9.7 billion. Adjusted Free Cash Flow, including payments for Merger-related costs, is expected to be between $13.4 billion and $13.6 billion, an increase from prior guidance of $13.2 billion to $13.6 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization
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MAG | Hot Stocks06:53 EDT MAG Silver targets September Juanicipio milling rate of 4,000tpd - MAG Silver reports production from Juanicipio for the Q3. Ramp up of the Juanicipio plant continued to be the focus during the quarter with the plant reaching its target milling rate of 4,000 tonnes per day, or "tpd", in September, marking a step change in performance relative to the comparative quarter and a successful transition to a fully independent producer. As Juanicipio ramped up its operations and transitioned to full capacity, there was a progressive reduction of Juanicipio's reliance on the nearby Fresnillo and Saucito plants. Notably, no feed was supplied to these plants in both August and September. This transition had a direct impact on total milling and, consequently, overall production for the quarter. Positively, this was partially offset by higher grade feed and continued efforts to optimize the Juanicipio plant as it ramped up to full capacity. As reported to MAG by the project operator Fresnillo, a total of 322,249 tonnes of mineralized material was processed across the Juanicipio and Saucito plants. The average silver head grade for the quarter was 523 grams per tonne, or g/t. Preliminary production estimates for the quarter, before any adjustments from offtake agreements, totaled 4.8M silver ounces and 9,444 gold ounces.
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USAP | Hot Stocks06:49 EDT Universal Stainless & Alloy appoints Christopher Zimmer as CEO - Universal Stainless & Alloy Products announced that it has taken the next step in its leadership succession plan with the naming of Christopher M. Zimmer as President and CEO. Zimmer has also been appointed to the Board of Directors. The transition is effective November 1st. Zimmer succeeds Dennis M. Oates in those roles. Oates takes on the newly-established role of Executive Chairman of Universal. Zimmer is a 15-year veteran of Universal. He joined the Company in 2008 as Vice President of Sales and Marketing, became Executive Vice President and Chief Commercial Officer in 2014, and assumed the post of COO in April 2023. As COO, he has been responsible for manufacturing, technology, and quality organizations as well as sales, marketing and supply chain management and development.
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JKS | Hot Stocks06:45 EDT JinkoSolar signs 3.8 GW supply agreement with ACWA Power - JinkoSolar announced its affiliate has signed the largest ever supply agreement with ACWA Power, to provide 3.8 GW N-type Tiger Neo modules for ACWA Power's two projects, the 1,581MWp Al KAHFAH and the 2,257MWp AR RASS 2, in Saudi Arabia. Produced using N-type TOPCon technology and sophisticated manufacturing processes, the Tiger Neo solar modules deliver efficiency along with reduced degradation and temperature coefficient, enhanced bifacial factor, and unparalleled yield per watt to reduce system lifetime energy cost. This important supply agreement validates the Tiger Neo's performance, durability, and reliability advantage over conventional solar panels, as well as its competitiveness. Moreover, it demonstrates the confidence that utility-scale customers have in JinkoSolar's ability to deliver on its commitments.
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MSM | Hot Stocks06:42 EDT MSC Industrial sees FY24 ADS flat to up 5% - Sees FY24 tax rate 25%-25.5%. Sees FY24 adjusted operating margin 12%-12.8%. Gershwind concluded, "Looking ahead, we are excited about the next chapter in our Mission Critical journey. We are focused on continuing to outgrow the IP Index by four hundred basis points or more and producing incremental margins of at least 20% through a cycle. Doing so allows us to pursue our longer-term aspiration of mid-teens operating margins and ROIC north of 20%."
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BEAM | Hot Stocks06:39 EDT Beam Therapeutics reports new preclinical data from BEAM-301 studies - Beam Therapeutics reported new preclinical data demonstrating the ability of its in vivo drug candidate, BEAM-301, to directly correct the R83C mutation, one of the primary disease-causing mutations of glycogen storage disease type Ia, or GSDIa. The data were presented in an oral presentation titled "A Single, Systemic Administration of BEAM-301 Mitigated Fasting Hypoglycemia One Year after Dosing in a Transgenic Mouse Model of Glycogen Storage Disease Type-Ia" at the 30th Annual European Society of Gene & Cell Therapy, or ESGCT, Congress in Brussels. GSDIa is a genetic disease caused by mutations in the G6PC gene encoding glucose-6-phosphatase, or G6Pase, a predominantly liver-expressed enzyme vital to glucose metabolism. The prevalent pathogenic variant, G6PC-p.R83C, completely abolishes G6Pase activity and is associated with life-threatening fasting hypoglycemia as well as long-term complications impacting the liver and kidney. BEAM-301 is a liver-targeting lipid-nanoparticle, or LNP, formulation containing base editing reagents optimized to correct the R83C mutation. Beam previously demonstrated that treatment with a single dose of BEAM-301 yielded up to ~60% base-editing efficiency to correct the R83C mutation and was associated with restored G6Pase activity in the livers of young huR83C mice. Today's data build on those findings and show that a single dose of BEAM-301 yielded: Long-term survival of treated mice out to at least one year post treatment, compared to untreated GSDIa mice that exhibit poor survival of only a few weeks; Sustained editing of G6PC in liver, confirmed by the normalization of glucose homeostasis and glycogen accumulation at one year; Normal growth and liver size throughout one year post treatment relative to untreated homozygous mutant mice that developed three-fold larger liver size by three weeks of age; Normalization of circulating glucose and metabolites, including cholesterol, triglycerides, lactic and uric acid; and, Prevention of hypoglycemia during several, intermittent 24-hour fasts up through one year post dosing.
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MKTX | Hot Stocks06:36 EDT MarketAxess reaffirms FY23 CapEx view $52.0M-$58.0M - Based on the progression of operating expenses and the acquisition of Pragma, which closed on October 2, the Company is refining its previously stated FY23 expense guidance range of $418.0M-$446.0M, to a new range of $432.0M-$438.0M. The new range includes an estimated $12.5M of M&A related expenses, including $8.5M of direct operating expenses related to Pragma and $4.0M of non-recurring M&A expenses. The Company is reconfirming its FY23 capital expenditures guidance range of $52.0M-$58.0M. The Company now expects the FY23 effective tax rate to be approximately 23.5%, below the previously stated range of 25.0%-26.0%. The lower effective tax rate for the year is mainly driven by favorable apportionment in connection with state tax filings and other federal tax filing positions.
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LYG | Hot Stocks06:34 EDT Lloyds Banking sees FY23 banking NIM above 310 basis points - Sees Banking net interest margin of greater than 310 basis points; Operating costs of c.GBP 9.1B; Asset quality ratio now expected to be less than 30 basis points; Return on tangible equity of greater than 14 per cent; Capital generation of c.175 basis points.
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LLAP | Hot Stocks06:34 EDT Terran Orbital awarded $4.7M contract by European Space Agency - Terran Orbital announced its wholly-owned international subsidiary, Tyvak International s.r.l., has been chosen as a prime contractor under a $4.7M contract by the European Space Agency for a proximity operations and in-orbit servicing mission that will deploy a nanosatellite spacecraft from Space Rider, the European uncrewed robotic laboratory.
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TMHC | Hot Stocks06:31 EDT Taylor Morrison sees FY23 home closings 11,250 - Sees FY23 ending active community count 320-325. Sees FY23 effective tax rate 25%.
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TMHC | Hot Stocks06:30 EDT Taylor Morrison sees Q4 home closings 2,950 - Sees Q4 average closing price $615.000. Sees Q4 ending active community count 320-325. Sees Q4 effective tax rate 25%.
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DB | Hot Stocks06:26 EDT Deutsche Bank sees scope to increase RWA reduction target by EUR 10B - Around EUR 10 billion of Deutsche Bank's 2025 RWA optimization target of EUR 15-20 billion was already achieved by the end of the third quarter, without material impact on revenues. Progress included data and process enhancements and an additional securitisation transaction during the quarter; additional portfolio measures are in progress, including optimized hedging and reductions in sub-hurdle lending. Given progress to date and further reduction potential, the bank has identified scope to increase its RWA reduction target by EUR 10B, to EUR 25-30B. Additionally, the bank's latest analysis indicates that the impact on RWA from the implementation of Basel III requirements will be EUR 10-15B lower than originally estimated. Taken together, these factors create potential to free up additional capital of around EUR 3B through 2025.
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DB | Hot Stocks06:23 EDT Deutsche Bank aims for operational efficiencies of EUR 2.5B annually by 2025 - Deutsche Bank aims for incremental operational efficiencies of EUR 2.5B annually, predominantly by 2025. Key initiatives are largely running in line with or ahead of plan, headcount reduction measures in senior non-client-facing staff have been completed and further workforce efficiency measures are in place. Further measures underway include streamlining front-to-back processes and optimization of the distribution network; the number of branches has been reduced by 93 in the first nine months of 2023.
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NKLA | Hot Stocks05:58 EDT Nikola awarded $165M from founder and former executive chairman in arbitration - In a regulatory filing, Nikola said that on October 20, an arbitration panel in New York, New York awarded Nikola approximately $165M plus interest in an arbitration proceeding with the company's founder and former executive chairman. The company had sought reimbursement from its founder and former executive chairman for costs and damages arising from actions that were the subject of government and regulatory investigations, including the December 2021 Securities and Exchange Commission settlement and associated civil penalty, Nikola said. The company intends to file with the arbitration panel an application to recover attorneys' fees related to the matter.
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NVDA | Hot Stocks05:51 EDT Nvidia says U.S. implemented new export curbs on AI chips ahead of schedule - Nvidia said in a regulatory filing on Tuesday night that on October 23, the U.S. Government informed the company, that the licensing requirements of the interim final rule entitled "Implementation of Additional Export Controls: Certain Advanced Computing Items; Supercomputer and Semiconductor End Use; Updates and Corrections," dated October 18, 2023, applicable to products having a "total processing performance" of 4800 or more and designed or marketed for datacenters, is effective immediately, impacting shipments of the company's A100, A800, H100, H800, and L40S products. These licensing requirements were originally to be effective after a 30-day period, Nvidia said. Given the strength of demand for the company's products worldwide, the company does not anticipate that the accelerated timing of the licensing requirements will have a near-term meaningful impact on its financial results, it added.
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AMZN | Hot Stocks05:48 EDT Amazon Web Services to launch AWS European Sovereign Cloud - Amazon Web Services, or AWS, an Amazon company announced it will launch the AWS European Sovereign Cloud, a new, independent cloud for Europe designed to help public sector customers and those in highly regulated industries meet the most stringent regulatory data residency and operational requirements. Located and operated within Europe, the AWS European Sovereign Cloud will be physically and logically separate from existing AWS Regions, with the same security, availability, and performance of existing AWS Regions, giving customers additional choice to meet their data residency, operational autonomy, and resiliency needs. The AWS European Sovereign Cloud will launch with its first AWS Region in Germany and will be available to all European customers.
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FRLN | Hot Stocks05:45 EDT Freeline announces new data from GALILEO-1 trial of FLT201 - Freeline announced that new clinical data from its ongoing Phase 1/2 GALILEO-1 trial of FLT201, its adeno-associated virus, or AAV, gene therapy candidate for Gaucher disease, show a substantial reduction of glucosylsphingosine levels in the blood of the first patient treated with FLT201. Lyso-Gb1 is a well-established biomarker of clinical response in Gaucher disease, with reductions in lyso-Gb1 correlating with positive clinical outcomes. These data are being highlighted in an oral presentation at the European Society of Gene & Cell Therapy, or ESGCT, 30th Annual Congress held in Brussels, Belgium. The presentation at ESGCT will include updated data on safety, tolerability, and GCase activity, as well as new data on lyso-Gb1, hemoglobin and platelet levels, from the first two patients dosed in GALILEO-1, a first-in-human, international, multicenter Phase 1/2 dose-finding study in people with Gaucher disease Type 1. Both patients were treated with a dose of 4.5x1011 vg/kg and have successfully come off their prior therapies. A third patient was dosed in the same cohort earlier this month; only safety, tolerability and liver transaminase data were available for patient 3 as of the data cutoff. As of the October 13 data cutoff, the data demonstrated: Favorable safety and tolerability, with no infusion reactions and no serious adverse events as of 16 weeks post-dosing for patient 1, nine weeks post-dosing for patient 2, and one week post-dosing for patient 3. All treatment-related adverse events were mild and resolved without intervention. Alanine-transaminase, or ALT, and aspartate-transaminase, or AST, levels remained in the normal range for all patients during the same time periods. Robust increases in plasma GCase levels. Patient 1 showed an approximately 700-fold increase over baseline to more than 70 micromol/L/h as of 12 weeks post-dosing. Patient 2 showed a similarly robust response, with an approximately 450-fold increase over baseline to more than 40 micromol/L/h as of six weeks post-dosing. Normal plasma GCase levels range from 0.3 to 1.2 micromol/L/h. Normalization of leukocyte GCase activity, indicating cellular uptake of GCase. Leukocyte GCase activity reached normal levels in patient 1 and patient 2 within four weeks of dosing and remained normal through week 14 and week 8, respectively. Leukocytes are validated markers for broad cellular uptake in Gaucher disease. Reduction in DBS lyso-Gb1 levels in patient 1 to approximately 60 ng/mL as of 12 weeks post-dosing from more than 100 ng/mL at the patient's initial assessment. Only one post-dosing assessment was available for patient 2 as of the data cutoff. Patients 1 and 2 had normal hemoglobin levels at baseline and have remained in the normal range at each weekly assessment, including those taken after coming off enzyme replacement therapy or substrate replacement therapy.
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ESLT | Hot Stocks05:42 EDT Elbit Systems awarded $170M contract by Swedish Army - Elbit Systems announced that its subsidiary Elbit Systems Sweden was awarded a contract worth approximately $170M to become the integration partner for the Swedish Army digitalization program LSS Mark. The contract will be performed over a ten year period.
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TW | Hot Stocks05:39 EDT Tradeweb Markets, FTSE Russell announce strategic partnership - Tradeweb Markets and FTSE Russell, an LSEG business, announced a strategic partnership to develop the next generation of fixed income index pricing and index trading products.
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DOYU | Hot Stocks05:37 EDT DouYu receives noncompliance notification from Nasdaq - DouYu announced that it has received a written notification from the staff of the Listing Qualifications Department of Nasdaq, indicating that for the last 30 consecutive business days, the closing bid price of the company's American depositary shares was below the minimum bid price of $1.00 per share requirement set forth in Nasdaq Listing Rule 5450. The Nasdaq notification letter has no current effect on the listing or trading of the company's ADSs on Nasdaq.
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SHEN | Hot Stocks05:29 EDT Shenandoah to acquire Horizon Telecom for $385M - Shenandoah announced it has entered into a definitive agreement to acquire 100% of the equity interests in Horizon Acquisition Parent for $385M. Consideration will consist of $305M in cash and $80M of Shentel common stock. Horizon is a commercial fiber provider in Ohio and adjacent states serving national wireless providers, carriers, enterprises, and government, education and healthcare customers. Horizon's 7,200 route-mile fiber network is the largest and most dense network across its footprint with over 9,000 on-net locations. Approximately 64% of Horizon's revenues are derived from their commercial customers. Based in Chillicothe, Ohio, Horizon was founded in 1895 as the incumbent local exchange carrier in Ross County, Ohio and rapidly expanded its fiber network over the past 14 years. Most recently, Horizon has pursued a strategy of investing in Fiber-to-the-Home in tier 3 & 4 markets in Ohio and currently passes 14,000 homes and businesses with fiber in its ILEC market and 18,000 homes in new, greenfield markets adjacent to its commercial fiber network. The transaction is subject to certain regulatory approvals and other customary closing conditions and is expected to close in the first half of 2024. The purchase price, less present value of tax benefits, represents:12.9x 2022 Horizon adjusted EBITDA multiple net of synergies and approximately $51,000 per fiber route mile. Shentel intends to fund the transaction with a combination of existing cash resources, revolving credit facility capacity and an amended and upsized credit facility. The company has received $275M in financing commitments from CoBank, Bank of America, Citizens Bank, N.A., and Fifth Third Bank, N.A..GCM Grosvenor, a selling unit holder of Horizon, will exchange its equity interest in Horizon for 4.08M shares of Shentel common stock with an aggregate value of $80M based on a reference price of $19.604 resulting in GCM owning approximately 7% of Shentel's fully diluted common shares after the transaction is closed. Shentel has entered into a 7% participating exchangeable perpetual preferred stock investment agreement with Energy Capital Partners, or ECP, an existing Shentel shareholder and long-time infrastructure investor, to provide $81M of growth capital to fund the FTTH network expansion, the government grant projects and general corporate purposes. The dividend can be paid in cash or in-kind at the option of the company. The preferred stock can be exchanged for Shentel common stock at an exchange price of $24.50, a 25% premium to the reference price of $19.604, under certain conditions as outlined in the investment agreement. This financing is expected to close in conjunction with the transaction. The company plans to raise additional growth capital for the FTTH network expansion, Government Grant Projects and general corporate purposes, which may include exploring strategic alternatives for its tower portfolio.
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