Stockwinners Market Radar for November 09, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
PSNL | Hot Stocks20:03 EST Cathie Wood's ARK Investment bought 476K shares of Personalis today
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DNA | Hot Stocks20:02 EST Cathie Wood's ARK Investment bought 515K shares of Ginkgo Bioworks today
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XRTX | Hot Stocks19:50 EST Xyratex Ltd. trading halted, news pending
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WEST | Hot Stocks19:44 EST Westrock Coffee sees FY23 adjusted EBITDA below prior forecast range - Westrock Coffee stated: "The Company expects its 2023 outlook for Adjusted EBITDA to fall below its previously issued guidance range of flat to 10% over 2022. The Company will provide further details on its outlook on its third quarter conference call."
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WBA COR | Hot Stocks18:54 EST Walgreens Boots Alliance sells shares of Cencora for $674M - Walgreens Boots Alliance (WBA) announced that it has sold shares of Cencora (COR) common stock pursuant to variable prepaid forward transactions executed in reliance on Rule 144 under the Securities Act of 1933, as amended, for current proceeds of approximately $424 million and, depending on the stock price at the time, potentially additional proceeds at maturity. In addition, and subject to the closing of the Rule 144 transaction, Walgreens Boots Alliance entered into a concurrent share repurchase by Cencora for proceeds of approximately $250 million. Walgreens Boots Alliance's ownership of Cencora's common stock has decreased as a result of the concurrent share repurchase by Cencora but remains at approximately 15%. The Company intends to use the proceeds primarily for debt paydown and general corporate purposes. The transaction is another decisive action to further simplify the Company's portfolio, while improving cash management.
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SOLO | Hot Stocks18:53 EST ElectraMeccanica provides update on litigation with Tevva - ElectraMeccanica announced that the District Court for the District of Arizona issued an order dismissing the previously filed complaint by Tevva Motors against ElectraMeccanica, 1432952 B.C., 1432957 B.C. and Susan Docherty, ElectraMeccanica's CEO and Interim COO, relating to the termination of that certain arrangement agreement, dated August 14, by and among the parties. The Arizona District Court dismissed the complaint due to the court's lack of subject-matter jurisdiction as a result of ElectraMeccanica, Holdco and Parentco being Canadian corporations and Tevva's failure to establish Arizona as Docherty's state of domicile. Tevva has until November 21 to file an amended complaint seeking to cure the deficiencies identified in the order. On November 7, Tevva subsequently filed a similar complaint in the Maricopa County Superior Court, State of Arizona. ElectraMeccanica has not been served with the new complaint. ElectraMeccanica and the other defendants and intend to defend their position to the fullest extent. ElectraMeccanica also intends to pursue its own legal rights and remedies against Tevva in appropriate legal jurisdictions. ElectraMeccanica has provided Tevva a notice of default and demand for payment as to the approximately $6.1M of debt owed by Tevva under the previously established working capital facility. In addition, ElectraMeccanica is evaluating and considering legal action to obtain relief as to certain persons in conjunction with the original arrangement agreement and their individual efforts in not meeting contractual, fiduciary, and debtor obligations.
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SOFI | Hot Stocks18:51 EST SoFi Technologies CEO buys $298K in common stock - In a regulatory filing, SoFi Technologies disclosed that its CEO Anthony Noto bought 44K shares of common stock on November 9th in a total transaction size of $298K.
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HAIN | Hot Stocks18:51 EST Hain Celestial CEO buys $163.8K in common stock - In a regulatory filing, Hain Celestial disclosed that its CEO Wendy Davidson bought 15K shares of common stock on November 9th in a total transaction size of $163.8K.
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CLW | Hot Stocks18:42 EST Clearwater Paper temporarily suspends certain operations in Idaho - Clearwater Paper reported that it temporarily suspended certain manufacturing operations at its Lewiston, Idaho facility. An incident impacting the regional natural gas system has resulted in the disruption of natural gas deliveries to the mill and the surrounding areas. "We are focused on the safety of our employees and maintaining our assets while we wait for repairs on the gas pipeline to be completed," said Arsen Kitch, president and chief executive officer. "We expect to resume the impacted operations in the coming days."
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LMT | Hot Stocks17:29 EST Lockheed Martin awarded $238M Air Force contract action - Lockheed Martin was awarded a not-to-exceed ceiling of $238M undefinitized contract action for initial spares provisioning for F-16 Systems Program Office Foreign Military Sales support. This contract provides for the provisioning of initial spares in support of new aircraft buys or major fleet upgrades. Work will be performed at Fort Worth, Texas, and is expected to be completed by November 7, 2033. This contract involves Foreign Military Sales to Greece, Jordan, Taiwan, Korea, and Singapore. This contract is a sole source acquisition. FMS funds in the amount of $910,000 are being obligated at the time of award. Air Force Life Cycle Management Center, F-16 Contracting Branch, Hill Air Force Base, Utah, is the contracting activity.
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ILMN | Hot Stocks17:29 EST Illumina down 7% at $99.20 after Q3 results, FY23 guidance cut
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ILMN | Hot Stocks17:28 EST Illumina CEO says 2024 results 'will look very similar to 2023' - CEO Jacob Thaysen says: "I wanted to reiterate Illumina's commitment to supporting our customers in this difficult macroeconomic environment. While we cannot control for external factors, we can optimize our own actions to successfully navigate through this period and position the company for a return to accelerated growth on the other side. I know you're interested to hear our views for 2024. With the caveat that we haven't finished 2023, we're still looking at our budget for 2024. Our initial view is that 2024 results will look very similar to 2023. We don't expect near-term improvement to the macroeconomic environment, and geopolitical issues have been persistent. We are encouraged with the early signs we're seeing for NovaSeq X utilization and the continued rollout of the X position us very well for the ramp in consumables and overall growth when the market conditions improve. This is clearly a dynamic situation, and we want to be able to develop our views in depth. Therefore, for 2024, we will not provide guidance before our Q4 earnings call in February. The main reason that I joined Illumina was my strong conviction about the future of the core Illumina business. While over the coming months, I'll continue to listen and learn, I would also be focused on several key priorities. First, we need to drive our top line as much as possible in this environment. This means continued placements of the NovaSeq X and all of our instruments, laying the groundwork for increased consumable demand. We'll continue working closely with our customers around the world, whether they are integrating new instruments into their workflows, starting new projects or building new tests or assays. Second, we need to keep driving innovation that is highly focused on our customers with priorities. These innovations include automation and sample-to-answer solutions served to strengthen our leadership position around the world. At the same time, we need to manage our R&D investments with discipline and rigor. We most recently launched our 25B rating kit. This was highly anticipated by our customers, and it will unleash the full power of the NovaSeq X. Third, we need to focus our own operational excellence across geographies, functions and processes. Earlier this year, we announced a plan to reduce our annualized run rate expenses. Our team has executed well and has been able to reduce annualized run rate expenses by approximately $175 million, ahead of our original projection of more than $100 million. These savings will continue to support flexibility and further investment in high-growth areas and our margins. I'm committed to executing against all of these priorities with a strong sense of urgency. We are focused on delivering tangible improvements that support profitable long-term growth from Illumina and for our shareholders." Comments taken from Q3 earnings conference call.
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ITCL | Hot Stocks17:27 EST Banco Itau Chile announces termination of American Depositary Shares program - Banco Itau Chile announced that The Bank of New York Mellon, as depositary issued a notice to the holders of American Depositary Shares representing common shares of the company terminating the American Depository Receipt program according to the requirements under the Amended and Restated Deposit Agreement dated as of June 11, 2018 among the company, the depositary, and owners and holders from time to time of ADSs issued thereunder. The ADR program and the deposit agreement will be terminated on February 5, 2024.
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DBVT | Hot Stocks17:24 EST DBV Technologies announces results from OLE to EPITOPE trial - DBV Technologies announced interim results from its ongoing Open-Label Extension, or OLE, study of EPITOPE, which is named EPOPEX. After completing participation in the EPITOPE study, eligible subjects could enroll in EPOPEX to receive a total of three years of Viaskin Peanut treatment. Double-blind placebo-controlled food challenges are conducted at the end of each year of treatment with safety assessed throughout the entire OLE. Importantly, all subjects remained blinded to their treatment assignment in EPITOPE until every patient completed EPITOPE and the database was locked; therefore, the decision to enter the OLE was not biased by the unblinding of the randomized treatment. In total, 244 subjects were randomized to the active arm of EPITOPE with 208 completing the study. 85% of eligible subjects entered the OLE with 95% participating in the DBPCFC at Month 24 of Viaskin Peanut 250 microgram treatment. Similar percentages were observed for the subjects randomized to the placebo arm of EPITOPE: 92% of eligible subjects entered the OLE with 86% participating in the DBPCFC at Month 12 of VP 250 treatment. The 175 and 91 subjects presented in the OLE cohorts are a subset of the subjects presented in the EPITOPE 12-month results. After 24 months of VP250, all efficacy parameters demonstrated an increase in treatment response relative to the corresponding EPITOPE 12-month results: 81.3% of participants reached an eliciting dose, or ED, greater than or equal to 1000 mg, or approximately 3-4 whole peanut kernels. 63.8% reached an ED greater than or equal to2000 mg. 55.9% completed the cumulative 3,444 mg DBPCFC without meeting stopping criteria. Using the EPITOPE primary endpoint definition, 83.9% of subjects were responders. Month-12 assessment of the efficacy parameters in the EPITOPE subjects that entered the OLE further demonstrates the improvement in treatment response following an additional 12 months of treatment. At month 12, 74.7%, reached an eliciting dose greater than or equal to 1000 mg relative to 81.3% at Month 24. At month 12, 52.4% reached an ED greater than or equal to2000 mg relative to 63.8% at Month 24. The proportion who completed the cumulative 3,444 mg DBPCFC without meeting stopping criteria was 39.5% and 55.9%, at months 12 and 24, respectively. Using the EPITOPE primary endpoint definition, 77.4% were responders at Month 12 relative to 83.9% at month 24. 47.2% of subjects that did not meet EPITOPE responder criteria at Month 12 did meet the responder criteria at Month 24. No treatment-related anaphylaxis or serious treatment-related adverse events occurred in the second year of active treatment. The frequency of local application site reaction decreased in the second year of treatment. Efficacy results for subjects that entered the OLE from the placebo arm of EPITOPE: 62.7% reached an ED greater than or equal to 1000 mg, 36.5% reached an ED greater than or equal to2000 mg, 28.4% completed the DBPCFC without meeting stopping criteria and 68.0% met the EPITOPE responder definition. These results were consistent with the EPITOPE VP250 arm results. The safety data for this group were consistent with what was observed in EPITOPE. There was a single event of treatment-related anaphylaxis.
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MUSA | Hot Stocks17:20 EST Murphy USA director sells $11.0M in common stock - In a regulatory filing, Murphy USA disclosed that its director Robert Murphy sold 30K shares of common stock on November 8th in a total transaction size of $11.0M.
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AEY | Hot Stocks17:19 EST ADDvantage to effect 1-for-10 reverse stock split - ADDvantage announced that it will effect a 1-for-10 reverse stock split of its common stock, $0.01 par value per share, where every ten issued and outstanding shares of common stock will be converted into one share of common stock. The reverse stock split is expected to take effect as of 12:01 a.m., Eastern Time, on November 16.
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LYEL | Hot Stocks17:16 EST Lyell Immunopharma announces Orphan Drug Designation for LYL845 - Lyell Immunopharma announced that the FDA granted Orphan Drug Designation to LYL845, an investigational tumor infiltrating lymphocyte, or TIL, product candidate for the treatment of patients with stage IIB-IV melanoma.
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XENE NBIX | Hot Stocks17:15 EST Xenon reports Neurocrine will not continue development of NBI-921352 - Xenon Pharmaceuticals (XENE) announced that its partner, Neurocrine (NBIX) reported that the Phase 2 clinical trial evaluating NBI-921352 in adult patients with focal onset seizures, or FOS, failed to demonstrate meaningful reduction in seizure frequency. Neurocrine Biosciences guided that no further development with NBI-921352 in FOS is planned at this time. Ian Mortimer, Xenon's president and CEO, stated, "Although we are disappointed with the outcome of this clinical trial in focal onset seizures, we are grateful to the study participants and investigators, as well as our partner Neurocrine for running this proof-of-concept study. We intend to work closely with Neurocrine to review the data in depth to understand any potential implications for the second ongoing study with NBI-921352 in SCN8A-developmental epileptic encephalopathy. Neurocrine also continues to advance a pre-clinical dual selective Nav1.2/1.6 inhibitor as part of our collaboration."
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ALV | Hot Stocks17:12 EST Autoliv raises quarterly dividend by 3% to 68c per share - The dividend will be payable on Wednesday, December 13, 2023 to Autoliv shareholders of record on the close of business on Tuesday, November 28.
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VALN | Hot Stocks17:07 EST VALN Stock trading halted, news pending
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AWK | Hot Stocks17:06 EST Pennsylvania American Water receives PPUC approval for BASA deal - Pennsylvania American Water, a subsidiary of American Water, received approval from the Pennsylvania Public Utility Commission to purchase the Butler Area Sewer Authority wastewater system for $230M. The approval follows a settlement agreement reached in August between the Office of Consumer Advocate, Office of Small Business Advocate, and Bureau of Investigation and Enforcement of the PUC. The settlement agreement approved today will significantly expand the company's assistance programs to further address affordability. As part of the agreement, Pennsylvania American Water will nearly double its shareholder contribution to the hardship grant program, increasing the fund by $3.5 million over five years. The agreement also expands the program's income eligibility criteria from 200 to 250 percent of Federal Poverty Income Guidelines, resulting in an estimated 52,900 additional water and 8,800 additional wastewater customers being eligible to receive bill assistance grants. The agreement also benefits commercial customers by establishing a payment arrangement program for commercial customers - previously only available to residential customers.
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U | Hot Stocks17:05 EST Unity down 13% at $22.00 after Q3 results, convertible debt offering
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U | Hot Stocks17:04 EST Unity not providing Q4 or FY23 guidance - The company states: "Several weeks ago, we started a comprehensive assessment of our product portfolio to focus on those products that are most valuable to our customers. We are also evaluating the right cost structure that aligns with the more focused portfolio. We are acting quickly and expect to make final decisions over the next few weeks. We expect to start implementing the plan within this quarter and expect to complete all interventions before the end of the first quarter of 2024. This will likely include discontinuing certain product offerings, reducing our workforce, and reducing our office footprint. The exact timing of these interventions is difficult to estimate. We are therefore not providing guidance for the fourth quarter or the full year 2023. We will provide guidance for 2024 with our fourth quarter and full year 2023 results. At that time, we will also share more details on our operational interventions, which are expected to gradually improve our results."
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GRPN | Hot Stocks17:03 EST Groupon co-founder Lefkofsky to resign as member of the board - Eric Lefkofsky, Co-Founder of Groupon, has informed the Company of his decision to resign as a member of the Board, effective November 9th, 2023. Eric Lefkofsky comments: "With a new management team and the announcement of today's financing strategy, I am confident that Groupon is on the right track to become the ultimate destination for experiences and services. Groupon is and will always be an incredibly special product, brand and place to work and I am excited to see what the next chapter holds for our business. While I have made a decision to move on from my role as a Director of the Board so I can focus on my other endeavors, I look forward to supporting Dusan and the Groupon team in the years ahead as a large shareholder."
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U | Hot Stocks17:03 EST Unity CEO says company has significant opportunity to accelerate revenue growth - Jim Whitehurst, Interim CEO, stated: "After a month at Unity, I believe that our key product, the Unity Engine, is unique and a foundation upon which the game industry was built. I also believe that the combination of Unity and ironSource provides us with the assets, capabilities and data to enable our customers to successfully build and scale their businesses. And I am impressed by the people at Unity, some of the brightest and most passionate in tech. This leads me to believe that we have a significant opportunity to accelerate revenue growth, improve profitability metrics and increase free cash flow generation going forward. However, we are currently doing too much, we are not achieving the synergies that exist across our portfolio, and we are not executing to our full potential. We aim to address these opportunities to emerge as a leaner, more agile, and faster growing company. We will share specifics as plans are finalized over the next few months."
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GRPN | Hot Stocks17:03 EST Groupon plans to raise about $100M between equity rights offering, asset sales - Groupon announced a plan to raise approximately $100 million between a fully backstopped equity rights offering and non-core asset sales: On November 9th, Groupon announced that the company's Board of Directors has approved an $80.0 million fully backstopped rights offering, with Pale Fire Capital SICAV a.s. entering into a binding commitment to backstop the entire offering. The company issued a separate press release and filed an 8-K with the Securities and Exchange Commission with more details on the terms of the transaction. On October 6th, Groupon entered into an agreement to sell a portion of its investment in SumUp for $8.8 million. On November 9th, Groupon entered into an agreement to sell a portion of its investment in SumUp for approximately $10 million at the same economic terms as the October sale.
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SANA | Hot Stocks17:03 EST Sana: FDA clears IND to study SC291 for B-cell mediated autoimmune diseases - Sana Biotechnology announced the U.S. Food and Drug Administration FDA has cleared the company's Investigational New Drug IND application to initiate a study of SC291 in patients with multiple B-cell mediated autoimmune diseases, including lupus nephritis, extrarenal lupus, and antineutrophil cytoplasmic antibody ANCA -associated vasculitis.Our goal is to develop SC291 for patients with multiple B-cell mediated autoimmune diseases, and the clearance of this IND is an important milestone," said Doug Williams, PhD, Sana's President of Research and Development. "SC291 is an allogeneic CAR T cell therapy with a scaled manufacturing process that produces hundreds of patient doses per manufacturing run, which we believe will be critical to addressing these large unmet needs. The use of allogeneic cells further simplifies the treatment paradigm for doctors and patients alike by eliminating apheresis and individualized patient-by-patient manufacturing of the drug product. We intend to begin treating patients in the near-term and expect to disclose initial safety and efficacy data across multiple diseases in 2024."
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BRNS ABUS | Hot Stocks16:54 EST Barinthus presents interim data in two HBV clinical trials - Barinthus Biotherapeutics (BRNS) announced the presentation of data from two HBV clinical trials at The American Association for the Study of Liver Diseases. The presentations include an oral presentation of data from HBV003, an ongoing Phase 2b trial designed to further evaluate the safety and efficacy of VTP-300 when combined with a low-dose anti-PD-1 antibody, and standard-of-care nucleos(t)ide analogue therapy. Alongside this, a late-breaking poster presentation with interim data from patients with chronic hepatitis B from the Phase 2a AB-729-202 trial combining Arbutus Biopharma Corporation's (ABUS) RNAi therapeutic candidate, imdusiran, with Barinthus Bio's T cell stimulating immunotherapeutic candidate, VTP-300, and SoC NUC therapy. "We believe these early data are very encouraging. In HBV003, VTP-300 in combination with nivolumab continues to show meaningful and sustained HBsAg declines across all treatment groups, with the most prominent declines occurring in patients with lower baseline HBsAg levels at screening," said Bill Enright, CEO of Barinthus Bio. Regarding the combination trial imdusiran with VTP300, Bill added "Although these are preliminary data, we can already see that VTP-300 appears to show a meaningful impact in sustaining low HBsAg in patients after imdusiran treatment, with clear differences shown between placebo and VTP-300. It's very positive that we are seeing that all participants treated with imdusiran and VTP-300 have qualified to stop NUC therapy, which really highlights VTP-300's potential as an important component of a functional cure regimen."
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VOR | Hot Stocks16:51 EST Vor Bio presents 'positive' data update on trem-cel - Vor Bio presented updated clinical data from patients treated in VBP101, its Phase 1/2a multicenter, open-label, first-in-human study of trem-cel in patients with acute myeloid leukemia, AML. "With this additional hematologic protection data in multiple patients over multiple doses of Mylotarg, we are now seeing the promise of our approach come to light as a potential next-generation therapeutic option for AML patients," said Eyal Attar, MD, Vor Bio's Chief Medical Officer. "Now with VCAR33ALLO in the clinic, we have the potential for an even better combination with trem-cel with the goal of providing durable responses or even a potential cure for AML." "The results being presented further validate Vor Bio's platform and approach. We are excited to see that trem-cel has worked as expected in these patients, providing them with hematologic protection and exposing their leukemia to targeted therapy," said Dr. Guenther Koehne.
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NJR | Hot Stocks16:47 EST New Jersey Natural Gas files to extend current energy-efficiency offerings - New Jersey Natural Gas filed with the New Jersey Board of Public Utilities seeking to extend its current SAVEGREEN energy-efficiency offerings for an additional six months through December 31, 2024. Approved by the BPU on March 4, 2021, this cycle of programs went into effect on July 1, 2021, and is currently set to expire on June 30, 2024. The proposed extension will help ensure existing energy-efficiency offerings remain uninterrupted for customers as NJNG prepares to file the next cycle of SAVEGREEN offerings on December 1, 2023. Once approved by the BPU, the new program cycle will begin January 1, 2025.
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BW | Hot Stocks16:46 EST Babcock & Wilcox sees FY24 adjusted EBITDA $100M-$110M
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INVO | Hot Stocks16:45 EST INVO Bioscience solicits waivers from warrant holders - INVO Bioscience is soliciting waivers from holders of the company's common stock purchase warrants dated August 8, of the holder's right to exercise a cash payment option upon consummation of the previously announced proposed merger with NAYA Biosciences, a Delaware corporation. Receipt of the waivers is a condition to the consummation of the merger. The waiver solicitation is being made pursuant to a notice of waiver solicitation and accompanying form of waiver, which the company is sending to the holders of the warrants. The Notice of waiver solicitation sets forth the terms of the warrant solicitation. The waiver solicitation is scheduled to expire at 5:00 p.m., NYC time, on November 15.
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SVV | Hot Stocks16:38 EST Savers Value Village authorizes up to $50M share repurchase program - Savers Value Village announced the authorization of a share repurchase program of up to $50 million of the Company's common stock. Under the program, Savers may purchase shares from time to time in compliance with applicable securities laws, that may include Securities Act Rule 10b-18. The timing and amount of any shares purchased will be based upon a variety of factors, including the share price of the common stock, general market conditions, alternative uses for capital, Savers' financial performance, and other considerations. The share repurchase program does not obligate Savers to purchase any minimum number of shares, and the program may be suspended, modified, or discontinued at any time without prior notice. Any repurchases will be funded by available cash and cash equivalents.
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IGT | Hot Stocks16:36 EST International Game signs multi-year betting agreement with casino in Puerto Rico - International Game is growing its sports betting presence in Puerto Rico via a multi-year IGT PlaySports technology and services agreement with Ponce Plaza Hotel & Casino. Located in Ponce, Puerto Rico, the casino will leverage IGT PlaySports' technology and trading advisory services team to power Puerto Rico's first casino brand-led retail and mobile sportsbook, PlayBets by Ponce Plaza.
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HBB | Hot Stocks16:35 EST Hamilton Beach announces $25M stock repurchase program - The Board of Directors approved a stock repurchase program providing for the purchase of up to $25M of the company's outstanding Class A Common Stock effective January 1, 2024 and running through December 31, 2025. The company's previously authorized share buyback program was approved by the Board of Directors on February 22, 2022 for the purchase of up to $25M of the company's outstanding Class A common stock through December 31, 2023. Under the company's previously authorized share buyback program, through September 30, 2023 the company has repurchased a total of 400,698 shares for a total aggregate purchase price of $4.5M.
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INO | Hot Stocks16:35 EST Inovio estimates cash runway to extend into Q2 2025
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VCTR | Hot Stocks16:35 EST Victory Capital reports AUM of $148.9B as of October 31 - Victory Capital reported assets under management of $148.9 billion as of October 31, 2023, and average assets under management for October of $151.3 billion.
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HYMC | Hot Stocks16:34 EST Hycroft Mining announces 1-for-10 reverse stock split - Hycroft Mining announced that the company's board of directors has resolved to effectuate a reverse stock split of Hycroft's issued and outstanding Class A common stock and has determined the ratio to be 1-for-10. Hycroft's stockholders previously approved the reverse stock split and granted the board of directors the authority to determine the exact split ratio and when to proceed with the reverse stock split at the company's Annual Meeting of Stockholders held on May 24.
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IVZ | Hot Stocks16:32 EST Invesco reports preliminary AUM $1.45T as of October 31 - A decrease of 2.5% versus previous month-end. The firm experienced net long-term outflows of $0.1B in the month. Non-management fee earning net inflows were $1.7B and money market net outflows were $10.9B.
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CRWD | Hot Stocks16:32 EST Crowdstrike sets long-term financial targets - Caliber has set the following financial targets: Cumulative fundraising of $750 million for the period 2024-2026; Assets under Management target of $3 billion by year-end 2026; Annualized segment revenue of $50 million by year-end 2026. "For more than 15 years, Caliber has developed profitable investment strategies in real estate and private credit and made them broadly available to investors - individual investors, RIAs, family offices and boutique institutions - who previously were excluded from investing in these highly attractive asset classes," said Chris Loeffler, CEO of Caliber. "Today, Caliber has $822 million in AUM and more than $2.1 billion in assets under development. We have a proven track record of success of investing in real estate, including multifamily, hospitality, office-to-residential conversions, retail, entertainment, and mixed-use development in qualified opportunity zones. The opportunities to invest in real estate at attractive prices are growing, and Caliber is well-positioned to be a top choice for investors who are aligned with our viewpoint. Caliber has a robust pipeline of attractive middle-market investment opportunities, expanding fundraising, and recently launched investment strategies that are not over-indexed to the prior real estate market. Importantly, Caliber has a successful history of raising non-dilutive capital through its private funds business model and investing that capital into distressed real estate to grow our total assets under management. All of this positions Caliber to deliver sustained growth and returns to our shareholders over the long term."
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NVR | Hot Stocks16:31 EST NVR announces $750M share repurchase plan - NVR announced that its Board of Directors has authorized the repurchase of up to an aggregate of $750M of its outstanding common stock. The repurchase authorization does not have an expiration date.
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IVT | Hot Stocks16:30 EST InvenTrust Properties names Julian Whitehurst as Board Chairperson - InvenTrust Properties "announced that Julian Whitehurst has been unanimously appointed to Chairperson of InvenTrust's Board of the Directors. Mr. Whitehurst has been a director of the Company since 2017, and most recently served as Compensation Chair. Previous Chairperson Paula Saban will remain on the Board, serving on the Compensation and Nominating and Corporate Governance Committees. During her tenure, Ms. Saban successfully guided the Company through several significant strategic events, including transitioning to a premier Sun Belt grocery-anchored shopping center REIT, navigating the unprecedented challenges caused by the pandemic, and the listing of IVT's shares on the New York Stock Exchange in 2021."
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AB | Hot Stocks16:29 EST AllianceBernstein reports preliminary AUM $652B as of October 31 - Down from $669B at the end of September. The 2.5% AUM decrease was primarily due to market depreciation, coupled with net outflows. By channel, Institutions and Private Wealth experienced net outflows while Retail net flows were flat in October.
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CLNE | Hot Stocks16:29 EST Clean Energy cuts FY23 adjusted EBITDA view to $42M-$47M from $50M-$60M - The company states: "GAAP net loss for 2023 is expected to range from approximately $(98) million to $(103) million, assuming no unrealized gains or losses on commodity swap and customer contracts relating to the Company's Zero Now truck financing program and including Amazon warrant charges estimated to range from $60 million to $65 million. Changes in diesel and natural gas market conditions resulting in unrealized gains or losses on the Company's commodity swap and customer fueling contracts relating to the Company's Zero Now truck financing program, and significant variations in the vesting of the Amazon warrant could significantly affect the Company's estimated GAAP net loss for 2023. Adjusted EBITDA for 2023 is estimated to range from approximately $42 million to $47 million. These expectations exclude the impact of any acquisitions, divestitures, new joint ventures, transactions and other extraordinary events; any lingering negative effects associated directly or indirectly with the COVID-19 pandemic; and macroeconomic conditions and global supply chain issues. Additionally, the expectations regarding 2023 Adjusted EBITDA assumes the calculation of this non-GAAP financial measure in the same manner as described above and adding back the estimated Amazon warrant charges described above and without adjustments for any other items that may arise during 2023 that management deems appropriate to exclude."
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GRNT | Hot Stocks16:28 EST Granite Ridge raises FY23 annual production view to 22.5K-24K from 21.5K-23K
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GLOB | Hot Stocks16:28 EST Globant announces new partnership with Major League Rugby - Globant announced a new strategic partnership with Major League Rugby in which Globant will serve as the League's exclusive Official Digital Transformation and Tech Solutions Partner. Members from Globant and MLR launched the partnership at a kick-off reception held in New York City, where attendees had the opportunity to listen to Martin Migoya, CEO of Globant, and Nic Benson, CEO of Major League Rugby, discuss the future of sports technology.
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BOLT | Hot Stocks16:22 EST Bolt Biotherapeutics sees cash funding operations, milestones through 2025
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AIZ | Hot Stocks16:21 EST Assurant authorizes $600M stock buyback, raises quarterly dividend 3% - Assurant announced that its Board of Directors authorized a repurchase program for up to $600 million of the company's outstanding common stock. The $600 million share repurchase authorization is in addition to the company's current authorization, of which approximately $174 million remained unused as of October 31, 2023. In addition, the company's Board of Directors declared a quarterly dividend increase of $0.02 to $0.72 per share of common stock. The dividend will be payable on December 18, 2023 to stockholders of record as of the close of business on November 27, 2023. "Today, we increased our dividend for the 19th consecutive year - a testament to Assurant's history of strong cash flows and capital position," said Assurant President and CEO Keith Demmings. "The combined cash generation of our Lifestyle and Housing businesses remains a key differentiator for Assurant, allowing us the flexibility to invest in high return organic and inorganic opportunities while also returning significant capital to shareholders, including repurchasing nearly 70 percent of our shares outstanding since our initial public offering."
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EXPD | Hot Stocks16:20 EST Expeditors announces listing transfer to NYSE - Expeditors International of Washington announced that it is transferring the listing of its common stock to the New York Stock Exchange from the Nasdaq Stock Market LLC. Expeditors' common stock is expected to begin trading on the NYSE on Tuesday, November 21, 2023, and will continue to be traded under its current ticker symbol "EXPD." Expeditors' common stock is expected to continue to trade on Nasdaq until the close of the market on Monday, November 20, 2023.
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LIDR | Hot Stocks16:19 EST AEye announces in-cabin Lidar - AEye announced 4Sight Flex - its ultra-compact, high-performance reference design for automotive. 4Sight Flex delivers unparalleled performance in a small, energy-efficient, low-cost form factor, enabling the next wave of L2+, L3, and L4 autonomy and safety features that can be integrated in-cabin. AEye's 4Sight Flex optimizes for various integration scenarios, including the windshield and roof, allowing OEMs to deliver maximum safety to customers while preserving the aesthetic appeal of their cars.
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MKTX | Hot Stocks16:17 EST MarketAxess CFO Gerosa to step down - MarketAxess Holdings announced that its Chief Financial Officer, Christopher N. Gerosa, will step down, effective January 31, 2024, to accept a position at a private company that provides technology solutions within the commercial bank sector. A formal search process for the selection of a new Chief Financial Officer has been initiated by the company. "On behalf of the Board of Directors and the leadership team, I want to thank Chris for his leadership of the finance organization over the last several years, and we wish him all the best in his next role," said Chris Concannon, MarketAxess CEO.
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BEN | Hot Stocks16:09 EST Franklin Resources reports October-end AUM $1.33T - Franklin Resources "reported preliminary month-end assets under management of $1.33 trillion at October 31, 2023, compared to $1.37 trillion at September 30, 2023. This month's decrease in AUM reflected the impact of negative markets and long-term net outflows."
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AKLI | Hot Stocks16:06 EST Akili sees cash, equivalents sufficient to fund operations into 2H25
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CCSI | Hot Stocks16:05 EST Consensus Cloud Solutions COO Nebergall to step down - On November 7, 2023, John Nebergall, Chief Operating Officer of Consensus Cloud Solutions Inc., notified the Company that effective December 31, 2023, he will step down from his position as Chief Operating Officer of the Company. Upon stepping down from such position, Mr. Nebergall will continue with the Company as a strategic advisor. Johnny Hecker, currently the Company's EVP of Operations, will also be appointed as the Company's Chief Revenue Officer, effective as of January 1, 2024.
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VUZI | Hot Stocks16:04 EST Vuzix says outlook 'remains positive' into 2024 - Our overall outlook for the remainder of 2023 and into 2024 remains positive. We have a strong book of business with identified opportunities, representing large potential deals and cornerstone customers for our enterprise products. And on the OEM products and services side of our business, we expect to enter into new projects with new and existing defense and consumer product focused customers over the course of the coming months," said CEO Travers. "Vuzix' business has reached a point to where we have both the ability and need to realign certain parts of the organization to take advantage of scale and realign our operations to better serve our customers. As a result, we are making changes that are expected to lower operating costs by as much as 20% annually once fully implemented. The process is underway and will continue into 2024. It impacts everything from operations to product development as well as marketing and sales. We expect these adjustments will not only better support our growing customer base in all parts of our business but also extend our operational runway and improve enterprise product margins. We have a bullish stance on the future, and we are focused on realigning our company to become more efficient, lower our cash operating burn and put ourselves on a faster and more visible path to profitability," concluded Travers.
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TCBS | Hot Stocks16:01 EST Texas Community Bancshares announces new stock repurchase program - Texas Community Bancshares announced that its Board of Directors has approved a new stock repurchase program that authorizes the company to repurchase up to 161,316 shares, which equals approximately 5% of its outstanding common stock as of October 25. The company also announced that as of November 3, it had completed the repurchase of all 164,842 shares of its common stock authorized under the prior share repurchase program previously disclosed.
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TAK | Hot Stocks15:55 EST Takeda says FDA approves ADZYNMA - Takeda announced that the U.S. Food and Drug Administration has approved ADZYNMA for the prophylactic and on-demand treatment of adult and pediatric patients with congenital thrombotic thrombocytopenic purpura. ADZYNMA is the first and only FDA-approved recombinant ADAMTS13 protein designed to address an unmet medical need in people with cTTP by replacing the deficient ADAMTS13 enzyme. "People living with cTTP face serious, life-threatening health challenges, and until today, were without any approved treatment specifically indicated for their disease," said Julie Kim, president, U.S. Business Unit and U.S. country head at Takeda. "As we strive to help patients with limited or no treatment options, developing innovative treatments in rare diseases is an inspiring challenge and one we have taken on for 70-plus years as a leader in hematology. Today, we are proud to further support the rare disease community by delivering ADZYNMA as the first FDA-approved therapeutic option for people with cTTP."
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LAZR... | Hot Stocks15:48 EST Luminar reports Polestar 4 to integrate Luminar LiDAR - Luminar (LAZR) stated in an announcement on its corporate site: "Many of you have been asking about Polestar 4 since the Mobileye announcement a few months ago. Today we are happy to answer that question with the announcement that Polestar, Mobileye and Luminar intend to equip the Polestar 4 with Luminar LiDAR and Mobileye's Chauffeur system. This announcement is the result of our ongoing partnership not only with Polestar, but also with Mobileye. The Polestar 4 will be the third production vehicle that will use Luminar LiDAR. It is also the first announced passenger vehicle to be based on Mobileye's Chauffeur system equipped with Luminar LiDAR. This follows years of development work between Luminar and Mobileye on its Level 4 Mobility-as-a-Service - MaaS - product and Autonomous Vehicle series solution, and our work is now being leveraged into consumer production vehicles." Reference Link
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MAR | Hot Stocks15:31 EST Marriott increases share repurchase authorization by 25M shares - Marriott International announced that its board of directors declared a quarterly cash dividend of 52c per share of common stock. The dividend is payable on December 29, to shareholders of record as of the close of business on November 22. The company also announced that its board has increased the authorization to repurchase the company's Class A common stock by an additional 25M shares, which are in addition to the approximately 7.3M shares that remained available as of October 31 for repurchase under prior authorizations. Year-to-date through October 31, the company has repurchased 18.3M shares for $3.3B.
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TAK | Hot Stocks14:44 EST FDA approves Takeda's Adzynma for rare inherited blood clotting disorder - The U.S. Food and Drug Administration approved Adzynma, which it notes is the first recombinant protein product indicated for prophylactic or on-demand enzyme replacement therapy in adult and pediatric patients with congenital thrombotic thrombocytopenic purpura, or cTTP, a rare and life-threatening blood clotting disorder. The application was awarded a Rare Pediatric Disease Priority Review Voucher, and granted Priority Review, Fast Track and Orphan designations. The FDA granted approval of Adzynma to Takeda Pharmaceuticals U.S.A.
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MSFT | Hot Stocks14:37 EST OpenAI introduces Data Partnerships to produce datasets for training AI models - Microsoft-backed OpenAI announced it is introducing OpenAI Data Partnership, where the generative AI company will work together with organizations to produce public and private datasets for training AI models. "Modern AI technology learns skills and aspects of our world - of people, our motivations, interactions, and the way we communicate - by making sense of the data on which it's trained," OpenAI said. "To ultimately make AGI that is safe and beneficial to all of humanity, we'd like AI models to deeply understand all subject matters, industries, cultures, and languages, which requires as broad a training dataset as possible. Including your content can make AI models more helpful to you by increasing their understanding of your domain. We're already working with many partners who are eager to represent data from their country or industry. For example, we recently partnered with the Icelandic Government and Mieind ehf to improve GPT-4's ability to speak Icelandic by integrating their curated datasets. We also partnered with non-profit organization Free Law Project, which aims to democratize access to legal understanding by including their large collection of legal documents in AI training. We know there may be many more who also want to contribute to the future of AI research while discovering the potential of their unique data. Data Partnerships are intended to enable more organizations to help steer the future of AI and benefit from models that are more useful to them, by including content they care about." Reference Link
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UCBI | Hot Stocks14:21 EST United Community Banks extends $50M buyback to end of 2024 - United Community Banks disclosed that its board approved the extension of its common stock repurchase program, authorizing the repurchase of up to $50M of its outstanding common stock from time to time on the open market. The extended repurchase authorization will expire on December 31, 2024.
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MAIA | Hot Stocks14:00 EST Efficacy data from THIO 101 expected very soon, says MAIA CEO
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MAIA | Hot Stocks14:00 EST MAIA CEO expects two second generation agents to go to clinic next
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MAIA | Hot Stocks14:00 EST Latest THIO data of 'highest quality,' MAIA CEO tells The Fly
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UAL | Hot Stocks13:03 EST United Airlines files application for nonstop flights between Houston, Tokyo - United Airlines filed an application with the U.S. Department of Transportatio for daily nonstop flights between Houston's Bush Intercontinental Airport and Tokyo's Haneda Airport. If approved, United will become the first U.S. carrier to fly nonstop service between Houston and Haneda. This new route will benefit the Houston region's rapidly growing population, 240+ Japanese-affiliated companies, as well as consumers living in communities across the Southern U.S. The flights will connect 64 communities across the Southern U.S. to Haneda and represent roughly 575,000 annual Tokyo bookings or 21% of all U.S. mainland - Tokyo demand. While Houston has only one flight to Haneda, New York/Newark has five, Los Angeles has seven, Chicago has three, and Washington, D.C. and Dallas/Fort Worth each have two. This new route will deliver more parity among major markets, while providing needed seats and travel flexibility to business and leisure travelers alike.
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MCOM | Hot Stocks13:01 EST Micromobility.com receives extension for continued listing on Nasdaq - Micromobility.com has received an extension from the Nasdaq Hearings Panel to continue its listing on the Nasdaq Capital Market. This decision is subject to the company meeting specific compliance criteria within designated timeframes. The Nasdaq Hearings Panel has stipulated that Micromobility.com Inc. must meet all the continued listing requirements, including the Bid Price and Market Value of Listed Securities requirements by the deadline of December 29, 2023.
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SONY | Hot Stocks12:51 EST PlayStation 5 game 'Spider-Man 2' has sold over 5M copies - Sony's Insomniac Games announced that PlayStation 5 exclusive "Marvel's Spider-Man 2" has sold over 5M copies since its October 20 release. Reference Link
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IONS | Hot Stocks12:44 EST Ionis reports 'positive' two-year results from Phase 2 OLE study of donidalorsen - Ionis Pharmaceuticals announced "positive" results from an ongoing Phase 2 open-label extension, or OLE, study evaluating the safety and efficacy of its investigational prophylactic medicine, donidalorsen, in patients with hereditary angioedema, or HAE. Over the two years, patients treated with donidalorsen via subcutaneous injection showed an overall sustained mean reduction in HAE attack rates of 96% from baseline, from 2.70 to 0.06 attacks per month, across all dosing groups. Furthermore, all patients treated with donidalorsen reported a clinically meaningful improvement in quality of life as measured by the Angioedema Quality of Life Questionnaire over two years. Treatment with donidalorsen was well tolerated in the studies, and there were no serious adverse events, the company reported.
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METC | Hot Stocks12:40 EST Ramaco Resources jumps 34% to $15.63 after WSJ report on coal mine
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TM | Hot Stocks12:02 EST Toyota Indiana starts production of Lexus TX SUV - Toyota Indiana has started production of the first-ever Lexus TX, an all-new, three-row luxury SUV. The 2024 TX is the first Lexus SUV to be assembled in the U.S., and the first Lexus for Toyota Indiana, Toyota said. In 2021, Toyota announced an $803M investment in Indiana to assemble two all-new SUV's, further cementing the automakers' commitment to U.S. manufacturing and to Toyota Indiana's workforce of more than 8,000 employees. "When Toyota Indiana was selected to assemble two brand-new vehicles, we were thrilled," said Leah Curry, Toyota Indiana president, "Being designated as a Lexus plant brings honor and prestige to the work we do every day and it's extremely gratifying to see our team recognized for their dedication and expertise."
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MODG | Hot Stocks12:00 EST Topgolf Callaway falls -14.1% - Topgolf Callaway is down -14.1%, or -$1.75 to $10.70.
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PRA | Hot Stocks12:00 EST ProAssurance falls -22.2% - ProAssurance is down -22.2%, or -$3.92 to $13.75.
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WOW | Hot Stocks12:00 EST WideOpenWest falls -57.4% - WideOpenWest is down -57.4%, or -$4.25 to $3.15.
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BE | Hot Stocks12:00 EST Bloom Energy rises 15.9% - Bloom Energy is up 15.9%, or $1.59 to $11.62.
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ALTG | Hot Stocks12:00 EST Alta Equipment Group rises 19.5% - Alta Equipment Group is up 19.5%, or $1.87 to $11.47.
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RAMP | Hot Stocks12:00 EST LiveRamp rises 20.4% - LiveRamp is up 20.4%, or $6.12 to $36.12.
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AMC | Hot Stocks11:41 EST AMC Entertainment down 10% after filing $350M common stock offering
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AOGO | Hot Stocks11:33 EST Arogo Capital Acquisition terminates merger agreement with EON Reality - Arogo Capital Acquisition announced that its previously announced agreement and plan of merger with EON Reality has been terminated. As a result, Arogo will seek an alternative business combination.
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SPRY | Hot Stocks11:07 EST ARS Pharmaceuticals presents clinical data on neffy for allergic reactions - ARS Pharmaceuticals announced that clinical data supporting neffy will be presented during the 2023 American College of Allergy Asthma and Immunology Annual Scientific Meeting. The meeting is being held November 9-13, 2023, in Anaheim, California. Presentations will highlight clinical data from a rigorous registration program for neffy 2.0 mg of more than 600 subjects, including analyses of patients with upper respiratory tract infections, pediatric patients greater than or equal to30 kg with a history of type I allergic reaction, patients with allergen-induced allergic rhinitis and the relationship between body weight/BMI and epinephrine exposure. Notably, data demonstrate that the pharmacokinetics of neffy are independent of BMI or body weight. Unlike injection products where exposures decreased with varying BMI or body weight, neffy could be a potentially effective epinephrine product in these patients. These results will be presented as a Distinguished Industry Oral Abstract on Saturday, November 11 at 4:30 PM PT. Title: Acute Allergic Rhinitis Increases Endogenous Epinephrine Resulting in Increased Heart Rate: Data Summary: Acute allergic rhinitis induces increases in circulating endogenous epinephrine and heart rate, possibly in response to changes in the distribution of blood flow. Title: A Single-Period, Single-Dose Study of the Pharmacokinetics of Epinephrine After Administration ARS-1 to Pediatric Subjects: The pharmacokinetic profile of neffy 2.0 mg in pediatric allergy subjects is comparable to what has been observed in adults and is expected to be a safe and effective option for the treatment of type I allergic reactions in pediatric subjects. Title: Integrated Pharmacokinetic-Pharmacodynamic Analysis: Effect of Weight and BMI on Epinephrine Concentration: Based on the rigorous registration program of neffy, the presentation will address the question about what is the effect of body weight and BMI on epinephrine absorption. Intramuscular and subcutaneous injections have a negative relationship with epinephrine exposures while neffy does not. This suggests neffy could be a potentially more effective epinephrine alternative to injection products in patients with elevated body weight or BMI. Title: Effect of Upper Respiratory Tract Infection on the Pharmacokinetics of Intranasal Epinephrine: Data Summary: Epinephrine absorption via neffy 2.0 mg under viral upper respiratory tract infection did not significantly impact the pharmacokinetics and pharmacodynamics. neffy 2.0 mg is expected to be a safe and effective option for the treatment of type I allergic reactions (including anaphylaxis) in patients experiencing upper respiratory tract infections.
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LYFT | Hot Stocks11:05 EST Lyft announces launch of new partnership program with EVCS - EVCS, which identifies itself as "one of the largest electric vehicle fast-charging network operators on the West Coast," and Lyft announced the launch of a new partnership program via which EV drivers on Lyft can benefit from discounted charging on the EVCS network. "The program is available to all EV drivers on Lyft and encompasses all EVCS publicly accessible charging stations across California, Oregon, and Washington. Through this program, EV drivers on Lyft can enjoy exclusive access to discounts on charging in the form of pay-as-you-go or monthly subscription plans... All EV drivers on Lyft qualify for tiered discounts on charging, with Pro drivers receiving the highest discounts. Depending on their status and charging needs, an EV driver on Lyft will be able to save hundreds of dollars annually on their vehicle fueling costs," the companies stated.
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ROP | Hot Stocks11:04 EST Roper Technologies increases quarterly dividend 10% to 75c per share - Roper Technologies Board of Directors has declared a quarterly cash dividend of 75c per share, payable on January 23, 2024 to stockholders of record as of January 9, 2024. This represents an increase of 10% over the dividend paid in each quarter of 2023, or an expected 27c increase on an annual basis. This is the thirty-first consecutive year in which Roper has increased its dividend.
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PHVS | Hot Stocks11:03 EST Pharvaris presents clinical data on deucrictibant, real-world HAE treatment - Pharvaris announced the presentation of two ePosters at the American College of Allergy, Asthma & Immunology 2023 Annual Scientific Meeting, being held from November 9-13, 2023 in Anaheim, CA. Prof. Marc A. Riedl, M.D., M.S., will present a poster titled "Deucrictibant immediate-release capsule reduces time to end of progression of hereditary angioedema attacks' manifestations" on Friday, November 10, from 5:15-5:30 p.m. PST. In the phase 2 RAPIDe-1 trial, PHVS416 reduced time to the onset of symptom relief and to the resolution of HAE attacks, and substantially reduced use of rescue medication. End of progression of angioedema manifestations, which represents the first event documenting treatment response and the first evidence of attacks evolving towards relief and resolution, was assessed in a post-hoc analysis. All dose groups of PHVS416 achieved EoP at a median time of 25 or 26 minutes vs 20 hours for attacks treated with placebo. Dr. Joan Mendivil, M.D., will present a poster titled "Understanding the reasons not to treat all HAE attacks and satisfaction for on-demand treatment: physician- and patient-reported data" on Saturday, November 11, from 12:20-12:35 p.m. PST. Data detailed in the poster were drawn from the Adelphi HAE Wave II Disease Specific Program, a real-world, cross-sectional survey of people living with HAE and their treating physicians. People living with HAE reported a lower satisfaction with their current on-demand treatments than their treating physicians in terms of route of administration, discreteness to administer in public, time to resolve attacks, and ease of portability.
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NVS | Hot Stocks11:03 EST Novartis reports REMIX-1 and REMIX-2 studies met endpoints at Week 12 - Novartis announced new "positive" data from the Phase III REMIX-1 and REMIX-2 studies investigating remibrutinib - a highly selective, oral Bruton's tyrosine kinase inhibitor - in people with chronic spontaneous urticaria, or CSU, whose symptoms are inadequately controlled by H1-antihistamines. In the studies, remibrutinib met all primary and secondary endpoints at Week 12. Remibrutinib demonstrated superiority in change from baseline vs placebo in weekly urticaria activity, itch and hives at Week 12. Significantly more patients achieved well-controlled disease with remibrutinib vs placebo, as early as Week 2 which was sustained at Week 12, and about one third of patients achieved complete absence of itch and hives at Week 121. Data are being presented at the 2023 American College of Allergy, Asthma and Immunology Scientific Meeting in Anaheim, California, November 9-13.
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AAL | Hot Stocks11:01 EST Teamsters to picked American Airlines, seeking improved compensation - On Thursday, November 9, passenger service workers at American Airlines who are members of the Communications Workers of America-International Brotherhood of Teamsters Association will hold an informational picket at Seattle-Tacoma International Airport as part of a national day of action at the second-largest passenger carrier in the world. "The workers have been in bargaining with the company for a year. They want the airline to improve wages, benefits, and job protections. Many of the workers have not received a raise in nearly four years, despite American Airlines reporting $13.5B in revenue last quarter."
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DCI | Hot Stocks10:47 EST Donaldson opens life sciences technical center in Research Triangle Park - Donaldson Company announced its commitment to broadening its life sciences reach with the opening of a 25,000-square-foot life sciences technical center in Research Triangle Park. Donaldson brands located or under development at the facility include Isolere Bio, Purilogics, Solaris Biotech and Univercells Technologies. The technical center at 5 Lab Drive in RTP is centrally located on a campus supporting emerging biotechnology companies and includes modern laboratories as well as cleanrooms that provide product manufacturing capacity. The new facility will support the design, development, launch and early commercialization of transformational bioprocessing solutions. It also will serve as a hub for Donaldson life science innovations while advancing the IsoTag reagent product line.
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COOP | Hot Stocks10:44 EST Mr. Cooper says customer data compromised during cyberattack - Mr. Cooper has confirmed customer data was compromised during a recent cyberattack. In a notice on the company's website, the mortgage and loan giant said that, "On October 31, Mr. Cooper experienced a cybersecurity incident. Our team took immediate steps to lock down our systems, and we are working around the clock with cybersecurity experts to resolve this issue as soon as possible. As part of our ongoing investigation, we now believe that certain customer data was exposed. We are continuing to investigate precisely what information was exposed. In the coming weeks, we will mail notices to any affected customer and provide them with complimentary credit monitoring services." Reference Link
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UNH... | Hot Stocks10:44 EST UnitedHealth's OptumRx taking additional steps to lower cost of insulin - Optum Rx, a pharmacy services company that is part of UnitedHealth (UNH), announced additional actions to make insulin more affordable, moving several rapid-, short- and long-acting insulins to tier one, which offers the lowest cash price consumers pay. In all, Optum Rx will shift eight products, including all short- and rapid-acting insulins, to tier one, or "preferred" status on standard formularies. Three manufacturers will have products added to tier one, including Eli Lilly (LLY), Novo Nordisk (NVO) and Sanofi (SNY). "I've seen firsthand how high prices for insulin and other necessary medications can cause patients to limit or skip doses," said Dr. Patrick Conway, CEO of Optum Rx. "Medicine that people can't afford is useless, and by taking this important next step to change our formulary, we will lower costs and improve access for more people who need this life-saving medication. Our goal is to make all essential medicines affordable."
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BILL | Hot Stocks10:33 EST Bill.com Holdings trading resumes
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BILL | Hot Stocks10:31 EST Bill halts for volatility after denying report of pursuing acquisition - Shares of Bill were down $6.19, or 10%, at $56.00 when the stock was halted for volatility after the company denied a Bloomberg report that said the company was in advanced discussions to buy digital payment tool provider Melio Payments. Bill stated in a press release: "Although BILL's general policy is not to comment on market rumors or media speculation, BILL is not pursuing any such acquisition at this time."
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BILL | Hot Stocks10:29 EST BILL responds to market rumor, says 'not pursuing any such acquisition' - BILL responded to market rumors. The company said, "On November 8, 2023, a news agency issued an article about a rumored acquisition between BILL and another company. Although BILL's general policy is not to comment on market rumors or media speculation, BILL is not pursuing any such acquisition at this time."
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BILL | Hot Stocks10:28 EST Bill.com Holdings trading halted, volatility trading pause
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EXPI | Hot Stocks10:24 EST eXp World Holdings reports putative class action complaint filed in Illinois - In a regulatory filing, eXp World Holdings disclosed that on November 2, a putative class action complaint under the caption "Batton et. al. v. Compass, Inc. et. al." was filed in the United States District Court for the Northern District of Illinois, Eastern Division, naming certain unaffiliated real estate brokerages, including the company, as defendants. "The Class Action alleges that defendants participated in a system that resulted in sellers of residential property paying inflated buyer broker commissions in violation of federal antitrust law. The plaintiffs seek a permanent injunction under federal antitrust laws enjoining the defendants from requiring home sellers to pay buyer-agent commissions without negotiations or from otherwise restricting competition among brokers and an award of declaratory relief and damages or restitution under the laws of various states on behalf of certain home buyers in those states, as well as attorneys' fees and costs of suit. Plaintiffs allege joint and several liability and seek treble or other multiple damages. The company believes that additional antitrust litigation may be possible. The company cannot provide any assurances that results of such litigation will not have a material adverse effect on its business, results of operations or financial condition," the filing stated.
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NYMX | Hot Stocks10:21 EST Nymox files lawsuit against AscellaHealth seeking $250M in damages - The company said, "This week, Nymox Pharmaceutical was forced to file a lawsuit in California Superior Court, Orange County, to protect its shareholders' interests, as Nymox alleges that a would-be "black knight" competitor resorted to illegal and unlawful corporate espionage because it could not garner the support of enough Nymox shareholders by legitimate means. This company is Defendant AscellaHealth. Unlike even a contentious hostile takeover bid, Ascella engaged in unlawful means in repeated attempts to gain control of Nymox for its own advantage, at what would have been the expense of Nymox's shareholders. The lawsuit contends the following: Ascella's conduct included using connections with Nymox corporate officers and directors, including its General Counsel, to pass off an investment proposal as a way to gain access to highly confidential and proprietary company information, and to take control of the company's assets by a kick-back scheme. After this scheme was uncovered and thwarted, Ascella has continued relentlessly in its attempts to interfere with Nymox's relationship with its shareholders, including publishing confidential Nymox information using a front organization called "Committee to Restore Nymox Shareholder Value," and undertaking a failed attempt to organize a sham shareholder meeting to take control of Nymox. Ascella presumably thought that Nymox would cave under these coordinated assaults on its business, allowing Ascella to reap the years of Nymox's efforts to take its pipeline drugs including NYMOZARFEX to market. Ascella did not count on the resiliency of Nymox's management, the loyalty of its shareholders and other stakeholders, and the strength of the justice system in both the United States and the Bahamas. Nymox is confident that it will be vindicated in court. Nymox has not been deterred from its core business mission of bringing life changing drugs to market and looks forward to continued success notwithstanding the bad acts of Ascella. The company will be seeking $250 million in compensatory and punitive damages."
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BMY | Hot Stocks10:16 EST Bristol Myers announces FDA acceptance of sBLA for Breyanzi - Bristol Myers Squibb announced that the U.S. Food and Drug Administration has accepted the supplemental Biologics License Application for Breyanzi to expand its current indication to include the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (SLL) who received a prior Bruton tyrosine kinase inhibitor and B-cell lymphoma 2 inhibitor. The FDA has granted the application Priority Review and assigned a Prescription Drug User Fee Act goal date of March 14, 2024. Priority Review designation underscores the high unmet need and the significant advancement Breyanzi may offer this patient population for which there is no standard of care and limited treatment options. The application was based on results from the primary analysis of the pivotal TRANSCEND CLL 004 study, a Phase 1/2, open-label, single-arm multicenter study, which were presented in an oral presentation during the 2023 American Society of Clinical Oncology Annual Meeting in June 2023. TRANSCEND CLL 004 is the first pivotal multicenter study to show clinical benefit with a CD19-directed CAR T cell therapy in patients with relapsed or refractory CLL after progression following treatment with a BTKi and BCL2i.
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EVA | Hot Stocks10:12 EST Enviva sinks after raising substantial doubt of remaining going concern - The company said in its earnings release, "Absent a significant and near-term increase in wood pellet market pricing, we expect the Q4 2022 Transactions will continue to have a negative impact on our profitability, cash flows, and liquidity through 2025. In addition, as a result of operational challenges experienced at the Company's plants during the first and second quarters of 2023 and a wood pellet market dynamic that has largely held market prices at levels unsupportive of creating margin through spot purchases or spot sales, the Company anticipates that, absent a cure, it may be in breach of certain of its covenants under its senior secured credit facility as early as the reporting date for the measurement period ending December 31, 2023. These conditions and events in the aggregate raise substantial doubt regarding the Company's ability to continue as a going concern." The shares of Enviva are down 76% to 92c in morning trading.
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EVA | Hot Stocks10:08 EST Enviva withdraws guidance, sees significantly lower sales price in Q4 - Enviva said this morning, "Due to the liquidity factors and comprehensive review outlined above, together with lower commercial activity in the third quarter of 2023 and the first part of the fourth quarter of 2023, the Company is withdrawing previous sales price per MT, net loss, adjusted EBITDA, and total capital expenditures guidance for 2023 and future years. Enviva generally experiences an uptick in biomass consumption in the fourth quarter of each year as winter heating demand coupled with seasonal impacts to the amount of solar and wind energy available to power grids drives higher commercial value and allows the Company to capitalize on increased wood pellet demand and higher spot prices. This dynamic, which was particularly pronounced in the fourth quarter of 2022, has not materialized to date in 2023. The Company is therefore expecting a significantly lower sales price per MT in the fourth quarter of 2023."
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EVA | Hot Stocks10:06 EST Enviva evaluating alternatives to alleviate adverse liquidity transactions - Enviva said in this morning's earnings release that it is evaluating a number of potential alternatives to maintain its compliance with the covenants and restrictions under the senior secured credit facility and to alleviate the adverse liquidity impact of the Q4 2022 transactions, including: Negotiating with the existing customer to restructure or renegotiate the terms of the Q4 2022 transactions, or to seek other alternatives to mitigate the potential impact of the Q4 2022 transactions on the company's liquidity; Renegotiating the terms of existing customer contracts to improve Enviva's profitability and to better protect against future inflation and other cost risks; Continuing to advance cost-reduction and productivity initiatives designed to improve the financial and operating performance of the company's fully contracted assets; Engaging with Lazard, Alvarez & Marsal, and Vinson & Elkins in a "comprehensive review of alternatives to enhance Enviva's capital structure (including debt maturities in 2026), augment liquidity, address contractual liabilities, and increase long-term profitability."
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AMC | Hot Stocks10:00 EST AMC Entertainment falls -14.2% - AMC Entertainment is down -14.2%, or -$1.43 to $8.66.
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PRA | Hot Stocks10:00 EST ProAssurance falls -16.7% - ProAssurance is down -16.7%, or -$2.95 to $14.72.
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CSV | Hot Stocks10:00 EST Carriage Services falls -19.3% - Carriage Services is down -19.3%, or -$4.39 to $18.43.
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SRG | Hot Stocks10:00 EST Seritage Growth Properties rises 18.3% - Seritage Growth Properties is up 18.3%, or $1.36 to $8.80.
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RAMP | Hot Stocks10:00 EST LiveRamp rises 19.0% - LiveRamp is up 19.0%, or $5.70 to $35.70.
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ALTG | Hot Stocks10:00 EST Alta Equipment Group rises 20.4% - Alta Equipment Group is up 20.4%, or $1.96 to $11.55.
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DTCK | Hot Stocks09:56 EST Davis Commodities Ltd trading resumes
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RMCO | Hot Stocks09:51 EST Royalty Management Holding Corp trading resumes
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BILL | Hot Stocks09:47 EST Bill falls -13.9% - Bill is down -13.9%, or -$8.64 to $53.55.
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AMC | Hot Stocks09:47 EST AMC Entertainment falls -19.8% - AMC Entertainment is down -19.8%, or -$2.00 to $8.09.
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WOW | Hot Stocks09:47 EST WideOpenWest falls -45.0% - WideOpenWest is down -45.0%, or -$3.33 to $4.07.
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BE | Hot Stocks09:47 EST Bloom Energy rises 16.1% - Bloom Energy is up 16.1%, or $1.62 to $11.65.
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BAK | Hot Stocks09:47 EST Braskem rises 16.5% - Braskem is up 16.5%, or $1.16 to $8.19.
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RAMP | Hot Stocks09:47 EST LiveRamp rises 17.2% - LiveRamp is up 17.2%, or $5.16 to $35.16.
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DTCK | Hot Stocks09:46 EST Davis Commodities Ltd trading halted, volatility trading pause
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RXRX BAYRY | Hot Stocks09:44 EST Recursion Pharmaceuticals, Bayer to focus research collaboration on oncology - Bayer (BAYRY) and US-based Recursion Pharmaceuticals (RXRX) announced that they have updated the focus of their research collaboration to precision oncology. "The methodology in which Recursion uses artificial intelligence in drug discovery, could be one of the most disruptive technologies of our time," said Juergen Eckhardt, M.D., Head of Business Development, Licensing & Open Innovation, Pharmaceuticals Division, Bayer AG, and Head of Leaps by Bayer. "As our collaboration and the usage of AI continue to evolve, we look forward to continuing to work with industry innovators to identify novel targets for oncology indications." Under the terms of the agreement, the companies may initiate up to seven oncology programs and Recursion is eligible to receive potential, success-based, future payments of up to $1.5B plus royalties on net sales. Bayer will gain the option to exclusively license novel therapeutics derived from the research activities.
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WOW | Hot Stocks09:42 EST WideOpenWest trading resumes
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RMCO | Hot Stocks09:41 EST Royalty Management Holding Corp trading halted, volatility trading pause
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OSPN | Hot Stocks09:40 EST OneSpan trading resumes
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KSCP | Hot Stocks09:40 EST Knightscope expands services in New York, sells 15 machines in California - Knightscope announces an expansion of services in New York and a new sale of 15 machines to a police department in California. Port Authority New York New Jersey added the Knightscope Emergency Management System Professional service to monitor its 11 K1 Call Boxes on the George Washington Bridge. A police department in Southern California is purchasing 5 K1 Blue Light Towers to be installed in a new public park and 10 K1 Blue Light E-Phones in a new parking structure.
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WOW | Hot Stocks09:37 EST WideOpenWest trading halted, volatility trading pause
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CDLX | Hot Stocks09:37 EST Cardlytics trading resumes
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CDLX | Hot Stocks09:32 EST Cardlytics trading halted, volatility trading pause
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EXPI | Hot Stocks09:31 EST eXp World Holdings CFO Jeff Whiteside to step down - eXp World Holdings announced that CFO Jeff Whiteside is stepping down from his position and a search process has been initiated to identify his successor. Whiteside will remain with the company through Dec. 1, 2023 to support the transition. The company and its Board of Directors will work with an external search firm to identify its next CFO. In the interim, Kent Cheng, eXp World Holdings Chief Accounting Officer, will assume the role of Principal Financial Officer until a CFO has been named.
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TGNA | Hot Stocks09:30 EST Tegna names Lauren Fisher chief legal officer, effective November 27 - TEGNA announced the appointment of Lauren Fisher as senior vice president and chief legal officer, effective November 27. Fisher will serve as a member of the company's leadership team, reporting directly to president and CEO Dave Lougee. As chief legal officer, Fisher will lead the company's legal department and oversee all legal functions across a broad range of disciplines including corporate, content creation and distribution, regulatory, ethics and compliance, and litigation and support TEGNA's long-term direction and growth. Fisher joins TEGNA from Vox Media where she was chief legal officer and corporate secretary.
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OSPN | Hot Stocks09:30 EST OneSpan trading halted, volatility trading pause
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RUM | Hot Stocks09:24 EST Rumble to be exclusive RNC livestream provider for fourth GOP debate - Rumble will be the exclusive livestream provider for the fourth debate of the 2024 Republican Presidential Primaries. In partnership with NewsNation, The Megyn Kelly Show on SiriusXM, and the Washington Free Beacon, the debate will be held in Tuscaloosa, Alabama, on December 6, 2023. As the RNC's exclusive online home for the debates, Rumble will feature the event on the platform's homepage and make it available for viewers across the country on the RNC's Rumble channel.
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CMND | Hot Stocks09:23 EST Clearmind Medicine enters clinical trial agreement with Johns Hopkins - Clearmind Medicine has entered into a Clinical Trial Agreement with Johns Hopkins University School of Medicine, to conduct its Phase I/IIa clinical trial of its proprietary MEAI-based CMND-100 as a potential treatment for Alcohol Use Disorder. The CM-CMND-001 clinical trial is a multinational, multi-center, single- and multiple-dose tolerability, safety and pharmacokinetic study in healthy volunteers and AUD subjects. Clearmind's flagship treatment is focused on AUD, which is an extremely common and devastating condition. The addiction varies from mild to acute and describes a person's inability to control their alcohol consumption, despite negative health, social and occupational consequences. In the clinical trial, oral capsules will be administered once daily for ten consecutive days. The patients will report their drinking patterns and craving for alcohol during the clinical trial period. Patients will also be monitored for their depression symptoms. Johns Hopkins University School of Medicine is the second US-based medical site to join the Company's clinical trial. The first US-based site was Yale School of Medicine's Department of Psychiatry.
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UFAB | Hot Stocks09:18 EST Unique Fabricating trading halted, news dissemination
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AVTA | Hot Stocks09:18 EST Avantax posts record newly recruited assets - Avantax welcomed more than 150 independent Financial Professionals during the first three quarters of 2023 as advisor appetite remains high for aligning with Avantax's deep pool of tax professionals and accounting practices. "We had an incredible third quarter and I'm proud of how we continue attracting Financial Professionals, including licensed tax professionals; they're obviously seeing the value in Avantax having firmly planted our flag in tax-intelligent financial planning," said Tim Stewart, VP and Head of Business Development at Avantax. "We have kept strong traction with prospects because they like that Avantax is the leader in tax-focused financial planning, and they want to join like-minded peers in our amazing Avantax Community."
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APDN | Hot Stocks09:17 EST Applied DNA Sciences ships first saRNA IVT template generated by Linea platform - Applied DNA Sciences has manufactured and shipped its first research use only quantity of self-amplifying mRNA template generated by its Linea DNA platform to an unidentified preclinical therapeutic mRNA developer. saRNA is a promising new form of mRNA therapy engineered to possess a self-replicating capability. Unlike conventional non-amplifying mRNA, saRNA carries the machinery necessary for its replication, resulting in a higher therapeutic index at a lower dose. Due to these advantages, interest in saRNA is rapidly growing, as evidenced by 10 active saRNA vaccine clinical trials as of Jan. 20231 and numerous companies engaged in preclinical studies to use saRNA to treat indications ranging from cancer to protein replacement therapies. Like mRNA, saRNA is also produced from a DNA template. The manufacturing of saRNA, however, has proven to be challenging due to the large size and complexity of saRNA and its associated DNA IVT templates. The DNA templates for saRNA are often 3x-5x larger than the DNA templates for conventional non-amplifying mRNA. saRNA can also be challenging to produce efficiently in DNA plasmids, often leading to heterogeneous DNA sequences, low yields, and long manufacturing timelines.
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RVMD EQRX | Hot Stocks09:17 EST Revolution Medicines announces Horning joined board of directors - Dr. Sandra Horning joined Revolution Medicines' (RVMD) board of directors at the closing of the EQRx (EQRX) acquisition as a Class II director, with a term expiring at the company's 2025 annual meeting of stockholders.
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RVMD EQRX | Hot Stocks09:16 EST Revolution Medicines completes acquisition of EQRx - Revolution Medicines (RVMD) announced it has closed its acquisition of EQRx (EQRX). Through the acquisition, Revolution Medicines expects to add approximately $1.1 billion in net cash proceeds to its balance sheet, after estimated post-closing EQRx wind-down and transition costs. Each share of common stock of EQRx issued has been converted into the right to receive 0.1112 shares of common stock of Revolution Medicines. Revolution Medicines expects to issue approximately 55 million shares of its common stock in connection with the merger. EQRx common stock has ceased trading on the Nasdaq Global Market and all EQRx programs are being wound down. "Revolution Medicines has reached an important milestone with the completion of this transaction that brings a significant additional quantum of capital to support our rapidly advancing clinical programs. On the foundation of exciting recent scientific disclosures, we will be able to make significant investments on behalf of the parallel clinical development strategy for our compelling RASMULTI Inhibitor, RMC-6236, and mutant-selective RAS Inhibitors, RMC-6291, and RMC-9805, which we believe have the potential to change the standard of care for patients with RAS-addicted cancers," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "We are also delighted to welcome Dr. Sandra Horning, a seasoned oncologist and late-stage clinical development leader, to the Revolution Medicines board of directors. We remain deeply committed to advancing our rich pipeline of promising oncology assets to address unmet patient needs, and I am extremely grateful to the employees and shareholders of Revolution Medicines and EQRx who have supported us to a successful transaction."
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CSPI | Hot Stocks09:13 EST Intelligence agency selects ARIA Cybersecurity's AZT Protect - ARIA Cybersecurity Solutions announced that a major western intelligence agency has selected AZT PROTECT to protect its critical intelligence gathering and analysis operations from cyberattack. This new contract builds on ARIA Cybersecurity's proven track record in providing security solutions for military and intelligence agencies around the world, including the U.S. Department of Defense. AZT PROTECT will protect the agency's critical operations from the growing cybersecurity threat to operational technology from hostile nation states, terrorism, and organized cybercrime. The solution is the first of its kind developed to protect OT environments from attacks such as the one inflicted against software company SolarWinds in 2020. This attack, perpetrated by a criminal group with suspected links to Russia, spread to more than 200 organizations worldwide, including several U.S. government agencies. This attack including its ability to disable the world's leading EDR solutions provided the template for a wave of similar cyberattacks, which is putting the nation's critical infrastructure and intelligence data at risk.
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CIFR | Hot Stocks09:12 EST Bitfury announces sale of 10M shares of Cipher Mining, lock-up agreement - Bitfury Group has sold 10,000,000 shares of the common stock of Cipher Mining at a price of $2.95 per share in a privately negotiated transaction. Cipher, a U.S.-based Bitcoin mining company, operated as a subsidiary of Bitfury prior to August 27, 2021. The common shares were offered pursuant to Cipher's Form S-3 shelf registration statement and represent 4.95% of Bitfury's current ownership of Cipher's common shares. Bitfury will receive all net proceeds from the sale. Upon completion of the transaction, Bitfury will hold 191,931,387 shares, or approximately 75.37% of the common stock of Cipher. Bitfury has entered into a 60-day lock-up agreement with respect to its remaining holdings of Cipher common stock, pursuant to which the Company may not sell or transfer any of the common stock before January 15, 2024.
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AZ | Hot Stocks09:10 EST A2Z announces approval to spin-off Advanced Automotive Innovations - A2Z Smart Technologies announced the unanimous approval of a plan by its Board of Directors to spin off its 80% interest in Advanced Automotive Innovations. As part of the restructuring, AAI is expected to become a publicly traded company, such that all shareholders in A2Z will receive an equivalent pro-rata shareholding in AAI. The Board has authorized the engagement of experienced legal, financial, tax, securities, and other consultants and auditors to oversee the entire restructuring process. The restructuring is subject to receipt of all corporate and shareholder approvals as well as receipt of all regulatory approvals including that of the TSX Venture Exchange. The Company anticipates that the restructuring will be completed in Q2, 2024. AAI specializes in the automotive safety sector and is currently developing a groundbreaking "Fuel Tank Inertia Capsule System" designed to prevent fuel combustion in the event of a vehicle collision. AAI holds a patent with the U.S. Department of Commerce for FTICS and is actively working towards the commercialization of a product that can be seamlessly integrated into automobile gasoline tanks.
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GTLB | Hot Stocks09:10 EST GitLab continues AI momentum with AI-powered DevSecOps workflows - GitLab announced updates to GitLab Duo, the company's suite of AI capabilities, including the beta of GitLab Duo Chat available in the GitLab 16.6 November product release, and the general availability of GitLab Duo Code Suggestions in the GitLab 16.7 December product release. GitLab Duo Chat, a powerful natural-language AI assistant, provides users with real-time guidance, insights, and suggestions to help analyze code, assist with planning, understand and fix security issues, troubleshoot CI/CD pipeline failures, assist with merge requests, and more. Duo Chat beta joins Code Suggestions as one of the two primary interfaces into GitLab's AI-powered suite within its DevSecOps platform.
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CNXA | Hot Stocks09:10 EST Connexa Sports Technologies announces beta launch of Slinger Bag - Connexa Sports Technologies announces the beta launch of the Slinger Bag analytics app for tennis simultaneously available for iOS and Android users. The Slinger App, powered by Gameface, provides an AI sports platform already proven with success in Australian cricket. Slinger's AI analytics app will provide tennis players and coaches with invaluable insights into the intricacies of their game by extracting and analyzing data from uploaded player or match videos, filmed with a single smart phone or compatible camera. "We envision our artificial intelligence platform will power the Connexa portfolio of brands and generate significant consumer engagement. The AI platform will drive real-time data and analytics for each of Connexa's core sport verticals - racquetsports, baseball and cricket. Our leadership in these verticals will be supplemented by licensed strategic partnerships across non-core team sports" commented Mike Ballardie CEO Connexa Sports Technologies.
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ARTL | Hot Stocks09:09 EST Artelo Biosciences announces publication of peer-reviewed research on ART27.13 - Artelo Biosciences announced new research published in the peer-reviewed journal Pharmaceuticals. The research article, titled "Cancer-Cachexia-Induced Human Skeletal Muscle Myotube Degeneration is Prevented via Cannabinoid Receptor 2 Agonism in Vitro," highlights the promising protective properties of the Company's clinical asset, ART27.13, in helping prevent muscle degeneration caused by cancer. Artelo is currently evaluating ART27.13, a dual CB1/CB2 receptor agonist, in the Cancer Appetite Recovery Study Phase 2a clinical trial to determine its effect on lean body mass, weight gain, activity levels, and improvement of anorexia in cancer patients. The purpose of this new research was to establish whether ART27.13 may additionally impact muscle degradation, a common debilitating effect of cancer and its treatment. Not only did the research show that ART27.13 protects against muscle wasting in the in vitro model, but also shows that the activity was mediated by the CB2 receptor.
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CUEN | Hot Stocks09:08 EST Cuentas announces final stage of fintech, mobile product development - Cuentas provides an update on its 'Cuentas 360' mobile app and its Mobile Fintech 'Cuentas App' with first-to-market features, including Gamification and a Tokenized Rewards program, and discloses a premium price per share of $10 for the majority acquisition of World Health Energy Holdings. Cuentas provides an update on its integration of digital and mobile protection software, branded as 'Cuentas 360.' Management expects to launch its application in a selected end-user test group in the next ninety days. The application will offer advanced features compared to other benchmarked products, including an advanced layer of security, scanning, and protection. 'Cuentas 360' is a core component of the software included in the previously announced majority acquisition of WHEN Group. Arik Meimoun, CEO of Cuentas, stated: "Our technology and management team have created a revolutionary add-on service in our Fintech app. We are ready to initiate limited user testing, and we are diligently working to have these applications ready for commercial distribution. The "Cuentas 360" app, provided by WHEN, surpasses any other competitive application available in the market today and will be bundled with our Cuentas Mobile service and offered to other MVNOs. I will be announcing more exciting news after our Q3 earnings report."
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MU | Hot Stocks09:07 EST Micron announces 32Gb monolithic die-based 128GB DDR5 RDIMM memory - Micron Technology announced its 32Gb monolithic die-based 128GB DDR5 RDIMM memory featuring best-in-class performance of up to 8000 MT/s1 to support data center workloads today and into the future. These high-capacity, high-speed memory modules are engineered to meet the performance and data-handling needs of a wide range of mission-critical applications in data center and cloud environments, including artificial intelligence, in-memory databases and efficient processing for multithreaded, multicore count general compute workloads. Powered by Micron's industry-leading 1beta technology, the 32Gb DDR5 DRAM die-based 128GB DDR5 RDIMM memory delivers the following enhancements over competitive 3DS through-silicon via products: more than 45% improved bit density; up to 24% improved energy efficiency; up to 16% lower latency; up to a 28% improvement in AI training performance.
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ATOS | Hot Stocks09:07 EST Atossa Therapeutics appoints Jonathan Finn to board of directors - Atossa Therapeutics announced that Jonathan Finn, CFA, has been appointed to Atossa's board of directors, effective November 8, 2023. Finn has more than 25 years of experience in the financial industry with a focus on early to mid-stage biotech and technology companies. Finn currently serves as Executive Vice President and Chief Investment Officer at Vantage Consulting Group, an investment advisory firm.
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CMTL | Hot Stocks09:06 EST Comtech receives $20M order from Spectra Group - Comtech announced the receipt of a $20M order from the company's UK-based partners, Spectra Group. The order will allow Spectra Group, the appointed regional distributor of Comtech's Compact Over-the-Horizon Transportable Terminal, or COMET, to service multiple orders already received, and several expected follow-on orders from undisclosed customers in the NATO and European regions.
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RCEL | Hot Stocks09:06 EST Avita Medical announces distribution partnership with PolyMedics - AVITA Medical announced it has entered into a distribution agreement with PolyMedics Innovations GmbH, to strategically expand its global presence to Europe. Under the terms of the agreement, PolyMedics Innovations will serve as the Company's exclusive distributor of RECELL in Germany, Austria, and Switzerland, with an option to expand to additional European markets in the future. "Our partnership with PolyMedics Innovations represents the first step of our strategic global expansion," said Jim Corbett, Chief Executive Officer of AVITA Medical. "Their proven track record and expertise in the global distribution of innovative wound treatments make them an ideal partner. We look forward to a successful collaboration that will enable us to reach more patients worldwide."
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GVP | Hot Stocks09:04 EST GSE Systems selected as engineering services provider by nuclear power supplier - GSE Solutions announced that a Southeast Texas power supplier has selected GSE to be a preferred engineering services provider for their two pressurized water reactor plants. GSE is one of three preferred engineering services providers listed by the utility for work to be done at these plants in 2024.
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FTCI | Hot Stocks09:04 EST FTC Solar announces leadership transition - As part of its Q3 results yesterday, the company announced a "leadership transition in which Sean Hunkler and Phelps Morris have departed their roles as CEO and CFO, respectively, and will be leaving the company in December 2023. Cathy Behnen, who has served as the company's Chief Accounting Officer since 2020, has been named CFO on an interim basis. Behnen has more than 20 years of financial leadership experience, including serving as CFO and VP of Finance at Penn National Gaming Hollywood Casino San Diego prior to joining FTC Solar. Prior to that role, she served in various finance and operations roles and as a Partner at the accounting firm RubinBrown."
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JEWL | Hot Stocks09:03 EST Adamas One forms new wholly owned subsidiary, Adamas Technologies - Adamas One announced the formation of its new wholly owned subsidiary, Adamas Technologies. Adamas Technologies will be responsible for research & development, partnerships, and deployment of Lab-Grown Diamond-based solutions for the technology industry. Lab-Grown Diamonds' thermal conductivity and durability make them ideal for use in semiconductor devices in the industrial and technology sectors. Adamas' patented technology provides a significant opportunity to address increasing demand from the semiconductor sector.
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LPLA | Hot Stocks09:03 EST LPL Financial: Blake Mier joins broker-dealer, RIA, custodial platforms - LPL Financial announced that financial advisor Blake Mier, CFP of Mier Financial has joined LPL Financial's broker-dealer, RIA and custodial platforms. He reported having served approximately $230 million in advisory, brokerage and retirement plan assets, and joins LPL from Wells Fargo Advisors Financial Network.
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POCI | Hot Stocks09:02 EST Precision Optics receves production order for robotic laparoscopy system - Precision Optics received an $890K initial production order for a complex imaging sub-assembly that will be used in the customer's new robotic laparoscopy system. The imaging subassembly incorporates optical, electronic and mechanical systems designed by Precision Optics. This initial production order is expected to be delivered between January and October 2024 with follow on production orders expected.
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AREC | Hot Stocks08:59 EST American Resources' ReElement closes $44.9M in local incentives for campus - American Resources Corporation's wholly owned subsidiary, ReElement Technologies Corporation has closed the bond purchase agreement for the previously announced $44.9 million of local incentives from the City of Marion, Indiana in the form of an Economic Development Revenue Bond. This bond is being issued by the city as incentive for ReElement Technologies to construct a state-of-the-art, commercial scale lithium, critical minerals, and rare earth elements refining facility utilizing ReElement Technologies' proprietary and patented chromatography technologies at the Company's recently announced 42-acre campus in Marion, Indiana.
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ONDS | Hot Stocks08:57 EST Ondas enters strategic partnership with Maghrebnet - Ondas Holdings signed a Memorandum of Understanding with Maghrebnet, a Moroccan vendor specialized in information technologies, security, networks, telecommunications, electricity, and renewable energies. Through this partnership, Ondas expands into the Moroccan and broader North African market, offering advanced drone infrastructure for cities, industrial, and strategic facilities. As part of the MOU, Ondas and Maghrebnet have agreed to jointly explore a multi-faceted business partnership. Maghrebnet will introduce Ondas' systems to potential customers in the region and will handle the manufacturing and sales of Onas' automated Optimus Drone-In a-Box systems in Morocco and Senegal. Based on future growth, the companies will work towards achieving cost-effective manufacturing of docking stations and establishing a joint Research and Development Center in Morocco. This center aims to enhance existing products, develop new features, and explore innovative solutions, actively participate in local bid competitions for projects, and serve as a hub for talent acquisition, development, and management within the local market. The parties will jointly recruit, train, and manage a skilled workforce to support the operations of the center and contribute to the success of various initiatives.
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PMBHF | Hot Stocks08:56 EST PharmAla Biotech to initiate trial on MDMA treatment - PharmAla Biotech announces that they have completed a Letter of Intent, and received initial Ethics Board Approval, to initiate an Observational Trial on patients treated with 3,4 Methylenedioxymethamphetamine, MDMA, through Health Canada's Special Access Program. The Parties will each play an important role in the execution of this trial: PharmAla Biotech is currently the only manufacturer of GMP MDMA for clinical use in Canada. PharmAla will provide drug product to physicians under SAP through its licensed distribution partners, and connect clinicians and patients with UC researchers for voluntary data collection. The University of Calgary, under the direction of Dr. Leah Mayo, Parker Research Chair in Psychedelics, will assess data pertaining to efficacy of MDMA in the treatment of PTSD under real-world circumstances. The University of Calgary will have full rights to publication of data generated by the trial, with no limitation by the Parties. Heroic Hearts Project Canada, a charity supporting veteran mental health by facilitating access to psychedelic-assisted therapy, will offer its future program participants who receive MDMA-assisted therapy via the SAP the option to participate in the Trial and thereby contribute RWE. "Our ability to treat patients through SAP, while imperfect, remains a credit to Canadian regulators and an incredibly valuable tool for the collection of evidence of MDMA's efficacy in real-world clinical outcomes. We're incredibly pleased to work with Dr. Mayo and Heroic Hearts to bring together patients, clinicians, and scientists," said Nick Kadysh, CEO, PharmAla Biotech. "We are already seeing amazing results in patients, and we believe we are currently the only company in the world that can generate evidence from SAP which can be shared directly with regulators, as well as the scientific community."
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JAGX | Hot Stocks08:56 EST Jaguar Health's Napo to present results of quality of life survey - Napo Pharmaceuticals announced that the results of "More Than a Diagnosis: A Quality of Life Survey for Individuals with a Diagnosis or History of Cancer," an online, anonymous Napo-supported survey initiative of Advocates for Collaborative Education to shed light on the diverse and profound challenges faced by individuals living with a diagnosis or a history of cancer, have been accepted for presentation at the December 2023 San Antonio Breast Cancer Symposium. The survey received more than 500 responses and will offer a unique perspective on the experiences and priorities of those affected by cancer. Only the breast cancer related responses will be presented at SABCS, with the remainder of the results to be shared at subsequent oncology symposia and conferences. Advocates for Collaborative Education co-created the survey with patients and survivors to design relevant questions whose answers may help the cancer ecosystem better understand the far-reaching impacts of a cancer diagnosis and treatment on quality of life. The results of this study are poised to transform the way we approach cancer care and support, potentially addressing not only the clinical aspects but also the physical, emotional, social, financial, and psychological impacts on those affected by this relentless disease.
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GROM | Hot Stocks08:55 EST Curiosity Ink's Santa.com simplifies prep for holiday festivities - Curiosity Ink Media, subsidiary of Grom Social Enterprises,, is strengthening its e-commerce platform, Santa.com, for families by providing holiday planning solutions to help reduce stress during the busiest time of the year. A handy helper this holiday season, the What To Do Now calendar provides week-by-week action items and preparation tips that then transition to day-by-day reminders the week before Christmas. The company said, "Santa.com will assist families in creating a holiday experience filled with love, laughter and the perfect gifts by helping them get in front of many of the things that are traditionally postponed until the very last minute, including establishing a holiday budget, booking holiday photos, gathering mailing addresses for family and friends, buying a tree and more!"
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ATPC | Hot Stocks08:54 EST Agape ATP to finance construction of 50 EV charging stations by Volt - AGAPE ATP Corporation intends to finance the construction of 50 electric vehicle charging stations by Volt Industries Sdn. Bhd. in Pahang as part of the Company's strategy to develop and offer sustainable energy solutions. On 4th November, 2023, ATPC signed a Memorandum of Agreement with Volt Industries, pursuant to which the Company intends to acquire a 51% stake in Volt Industries, a developer of EV charging stations based in Pahang, and the Company also intends to finance the construction of 50 EV charging stations by Volt Industries. ATPC, which was recently listed on Nasdaq, specializes in sustainable global 'wellness' ecosystem and the development and production of advanced technology solutions for the energy sector. Under the MoA, ATPC will explore the project's financial viability by securing primary funding as well as seeking additional capital from other avenues. Volt Industries will initiate the project's groundwork, including acquiring all necessary permits and licenses as well as ensure full compliance with local regulations together with construction work.
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NTWK | Hot Stocks08:53 EST NetSol Technologies announces two UK financial institutions go live with Flex - NETSOL Technologies announced that Bibby Financial Services, a UK-based multinational financial services provider supporting more than 8,500 small and medium-sized enterprises across more than 300 industry sectors, and United Trust Bank, a specialist bank that provides a wide range of secured funding facilities to SMEs, property developers and consumers, have subscribed and subsequently gone live with Flex - NETSOL's instant API and cloud-based calculation engine. Additionally, UTB has subscribed to Dock - a cloud-based parameter storage that smoothly runs all a financial institution's core lending operations. Najeeb Ghauri, Founder and Chief Executive Officer of NETSOL, commented, "We're pleased to be partnering with these two UK-based financial institutions and provide them with API-based solutions to maximize efficiencies across their business. NETSOL is a pioneer in the establishment of the Appex Now marketplace, and the growing number of registrations and subsequent deployments for Flex, our initial marketplace offering, demonstrates efficiency of our instant cloud-based calculation engine. We look forward to working with Bibby Financial Services and UTB, and entering additional partnerships as more institutions see the value of our Appex Now offerings."
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NEOV | Hot Stocks08:52 EST NeoVolta adds $520,000 purchase order for solar battery storage in New Mexico - NeoVolta announced that it has expanded its presence as a leading home solar power storage in the state of New Mexico, with a high six-figure deal that places NeoVolta NV14 batteries in new home construction projects across the state. "This order is the first of what we expect to be many follow-on orders over the coming years and indicates strong demand for NeoVolta's energy storage products, with New Mexico being the latest state to embrace our solar batteries," said Brent Willson, CEO of NeoVolta. "Our all-in-one NV14 storage system provides safe, reliable backup power during an outage when you need it most. And during normal conditions, it's the perfect solution for escaping skyrocketing utility costs. A key decision factor in selecting NeoVolta is our UL 9540A battery certification, as well as the ability to couple with DC solar, meaning the NV14 battery is a No Fire solution that's also more efficient than the competition." NeoVolta is proud to add New Mexico to its growing list of states where NeoVolta systems are installed, including California, Arizona, Nevada, Utah, Oklahoma, Georgia, Florida, Texas, Colorado, Tennessee, Alabama, Georgia, Kentucky, Illinois, Wyoming, and the territory of Puerto Rico.
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VZ | Hot Stocks08:51 EST Verizon invests $100K to support small business digital inclusion in New York - Verizon has announced a $100,000 investment to award to Upstate United as part of the Verizon Digital Equity and Inclusion Program. This partnership builds on Verizon's longstanding investment in small businesses in New York, including investing $550,000 in 2023 to help entrepreneurs and small businesses to thrive. In partnership with Upstate United, a coalition made up of business and trade organizations from all parts of Upstate New York, Verizon's investment will support a range of upstate business community partners, including: Upstate United; Greater Rochester Chamber; Greater Binghamton Chamber; North Country Chamber; Capital Region Chamber. These partnerships will uplift local small businesses through digital readiness and inclusion programs across New York State, and Verizon's investment will support programing to expand knowledge and capabilities in, as well as reach of, digital technologies to assist underserved communities including rural, low-income and MWBEs. In addition, the funding will help facilitate enhancements to existing digital readiness/workforce development programs.
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CLNFF | Hot Stocks08:51 EST Calian Group to acquire Decisive Group for up to C$74.7M - Calian Group is entering into a definitive purchase agreement to acquire 100% of the shares of Ottawa-based Decisive Group Inc. for up to CAD$74.7M.This includes the amount to be paid in cash at closing of CAD$50M. Decisive Group is a leader in the IT infrastructure and cyber security services business in the Ontario region with a long legacy of working with customers to evolve their IT environment. It designs, builds, and maintains enterprise IT infrastructure and hybrid cloud, as well as manages and protects data. Its customer base primarily includes Canadian government departments and agencies, as well as some well-established commercial and enterprise clients. Established in 2001, Decisive Technologies was founded as a professional services company in Canada's National Capital Region and began offering data centre solutions in 2010. It expanded its offerings in 2013 with the addition of BriteSky Technologies, which originally focused on cloud storage, and in 2021, the companies amalgamated their products and services under the Decisive Group banner. The definitive purchase agreement is effective immediately. Calian anticipates the transaction to close by the end of calendar 2023, pending regulatory approvals. Financial metrics are reported in Canadian dollars and in accordance with IFRS reporting standards.
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CLBT | Hot Stocks08:50 EST Cellebrite announces release of Mobile Ultra - Cellebrite announced the release of Mobile Ultra, for mobile device investigations to the private sector. An all-in-one application, Mobile Ultra surfaces facts quickly and accelerates the collection, extractions and reporting process during corporate investigations."Mobile Ultra continues to lead the industry for e-Discovery, corporate investigations and incident response by surpassing previous limitations and providing greater access to comprehensive and accurate data that is fully defensible," said Ken Basore, General Manager, Cellebrite Enterprise Solutions. "The industry is facing a myriad of challenges including evolving devices and apps, increasing data volumes and deleted data. We're proud to say Mobile Ultra is the all-in-one solution to address these complex problems."
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MLSS | Hot Stocks08:49 EST Milestone starts sales of ComuFlo disposables within Island Ambulatory Center - Milestone Scientific announced that it has commenced sales of CompuFlo Epidural disposables into Island Ambulatory Surgery Center, a multi-specialty ambulatory surgery center based in Brooklyn, New York with a focus on pain management, orthopedics and spine care, urology, podiatry and plastic surgery. Island Ambulatory Surgery Center is affiliated with Mount Sinai Health System, MSHS, which operates 19 hospitals across New York. Adoption of the technology by this center follows a successful evaluation process by its founder and medical director, Dr. Leon Reyfman, MD, MBA, an interventional pain medicine physician, who is board-certified by the American Board of Anesthesiology in both anesthesiology and pain medicine. Arjan Haverhals, CEO and president of Milestone Scientific, stated, "We are proud to announce the adoption of our technology by Island Ambulatory Surgery Center, following a successful evaluation period. Moreover, this marks an important milestone as it represents the first commercial adoption of the CompuFlo(R) Epidural System within an ambulatory surgery center."
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SWAV | Hot Stocks08:48 EST ShockWave Medical announces new data on one-year outcomes with IVL - Shockwave Medical announced new data demonstrating one-year outcomes with coronary intravascular lithotripsy, IVL, that was consistent in both women and men. The one-year results from Disrupt CAD III and IV trials were recently published in the Journal of the Society for Cardiovascular Angiography & Interventions, JSCAI. In the patient-level pooled analysis, titled "Coronary Intravascular Lithotripsy for Treatment of Severely Calcified Lesions: Long-Term Sex-Specific Outcomes," use of IVL for lesion preparation of severely calcified lesions had similar safety and effectiveness in women and men at a one-year follow-up. This is in contrast to atheroablative approaches to vessel preparation, where previous reports show that women are more susceptible to adverse procedural outcomes compared with men. The publication reported that despite smaller average reference vessel diameters in women compared with men, post-IVL serious angiographic complications, defined as a composite of severe dissection, perforation, abrupt closure, slow-flow, or no-reflow, were similar between women and men. At one-year, major adverse cardiovascular event rates were not different between women and men and there was no difference between women and men in target lesion failure. Sex was also not an independent predictor of MACE at one year after adjusting for major clinical and angiographic covariates. "The high acute procedural success rate associated with IVL, the infrequent complications and similar one-year clinical outcomes is overall favorable, suggesting that the use of IVL in women is very beneficial in this retrospective analysis," said Alexandra Lansky, MD, Professor of Medicine (Cardiology), Director of Yale Cardiovascular Clinical Research Program, Yale University School of Medicine, New Haven, CT, USE. "Given these findings, I am even more excited to see the results from the prospective, 400-patient EMPOWER CAD study that has recently started to see how we can better inform interventional cardiologists on the optimal strategy to treat women suffering from coronary artery disease in a 'real-world' setting."
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ELUT | Hot Stocks08:46 EST Elutia completes divestiture of Orthobiologics business unit - Elutia announced it completed the divestiture of its Orthobiologics business unit to Berkeley Biologics, a wholly owned subsidiary of GNI Group Ltd. The transaction enables Elutia to strategically focus on its proprietary drug-eluting biomatrix platform and provides the Company with cash proceeds of up to $35 million, comprised of upfront payments no later than November 17, 2023 of $15 million plus potential earnout payments of up to $20 million over a five-year period. Combined proceeds with the previously announced September 2023 private placement potentially top $60 million. "With the closing of this transaction, Elutia is now fully focused on our high-growth biomatrix product platforms, including our near-term blockbuster opportunity with CanGarooRM," said Dr. Randy Mills, President and Chief Executive Officer of Elutia. "The proceeds from this transaction, coupled with the September financing, should have us well-capitalized to advance our proprietary drug-eluting biomatrix platform. And all of this is made possible by the outstanding work of our team, which continues to execute the Elutia plan with relentless drive and focus."
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ILLM | Hot Stocks08:46 EST Illumin announces TSX acceptance of normal course issuer bid - illumin Holdings received approval from the Toronto Stock Exchange to proceed with a normal course issuer bid. Under the NCIB, the Company may purchase for cancellation up to 4,330,226 common shares of the Company (the "Shares"). As at November 2, 2023, illumin had 51,684,235 Shares issued and outstanding. As such, the maximum number of shares that may be purchased under the NCIB represents approximately 10% of illumin's public float as at November 2, 2023, being 4,330,226 Shares. The Company's average daily trading volume between May 1 2023 and October 31, 2023 was 82,487 Shares and the daily purchase limit, being 25% of ADTV, is 20,621 Shares. The NCIB will commence on November 13, 2023 and may continue to November 12, 2024 or such earlier time as the NCIB is completed or terminated at the option of the Company. The Shares will be purchased on behalf of the Company by a registered broker through the facilities of the TSX and through other alternative Canadian trading systems at the prevailing market price at the time of such transaction. In connection with the NCIB, illumin has entered into an automatic share purchase plan with its designated broker to allow for the purchase of Shares under the NCIB at times when illumin normally would not be active in the market due to internal trading black-out periods. Such purchases will be determined by the broker at its sole discretion, based on the purchasing parameters set out by the Company in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP. Purchases of Shares under the ASPP may be made through the facilities of the TSX and alternative trading systems. The ASPP has been pre-cleared by the TSX and will be effective as of November 13, 2023. The ASPP will terminate on the earliest of the date on which: the NCIB expires; the maximum number of Shares have been purchased under the NCIB; and the Company terminates the ASPP in accordance with its terms. Concurrent with the establishment of the ASPP, the Company has confirmed to the broker that it was then not aware of any material undisclosed or non-public information with respect to the Company or any securities of the Company. During the term of the ASPP, the Company will not communicate any material undisclosed or non-public information to the trading staff of the broker; accordingly, the broker may make purchases regardless of whether a trading blackout period is in effect or whether there is material undisclosed or non-public information about the Company at the time that purchases are made under the ASPP. In the event that the ASPP is materially varied, suspended or terminated, the Company will issue a news release advising of such variation, suspension or termination, as applicable. Management of the Company believes that, from time to time, the market price of the Shares may not fully reflect the underlying value of the Shares and that at such times the purchase of Shares would be in the best interests of shareholders. As a result of such purchases, the number of issued Shares will be decreased and, consequently, the proportionate share interest of all remaining shareholders will be increased on a pro rata basis.Pursuant to a previous normal course issuer bid, illumin sought acceptance of the TSX to purchase up to 5,500,000 Shares and which was accepted by the TSX on May 16, 2022 and expired on May 15, 2023. The Company had, as of May 15, 2023, repurchased and cancelled under that earlier NCIB 5,404,894 Shares on the open market at an average purchase price of $2.96 per share.
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BTM | Hot Stocks08:46 EST Bitcoin Depot announces distribution partnership with CORD Financial Services - Bitcoin Depot announced its partnership with CORD Financial Services, CORD, a leading provider of innovative ATM solutions, to distribute Bitcoin Depot kiosks across the U.S. CORD and Bitcoin Depot will secure Bitcoin ATM placements within CORD's established base of customers and to customers new to CORD. In addition to now offering Bitcoin ATM services, CORD is a leader in the ATM Services Business, offering full-service ATM placements, cash management, transaction processing, merchant services, ATM equipment, sales, and 24/7 customer and technical support. "This partnership will allow Bitcoin Depot to expand our retail locations while leveraging CORD's expertise and customer relationships in the ATM industry," said Bitcoin Depot CEO Brandon Mintz. "CORD has an impressive history of reliable ATM services and a demonstrated mastery of the conventional ATM space. We look forward to leveraging their relationship network and brand awareness to drive additional placement opportunities for our business."
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NVAX | Hot Stocks08:45 EST Novavax prepared to initiate additional cost reduction program - Novavax said it intends to "further reshape the size and scope of global business operations beyond previously announced 2024 targets to align with the COVID-19 market opportunity." The company anticipates reducing 2024 R&D and SG&A expenses by over $200M compared to prior targets to reflect $750M or lower spend for 2024, representing a greater than 50% reduction compared to 2022, and additionally anticipates reducing supply network costs by over $100M as it continues to "rationalize our manufacturing footprint," the company stated.
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MYNZ | Hot Stocks08:44 EST Mainz Biomed partners with Liquid Biosciences for colorectal screening test - Mainz Biomed announced a strategic partnership with Liquid Biosciences, a bio-analytics company leveraging its proprietary AI analysis technology platform to serve the biopharma and diagnostics industries along with academic institutions. The collaboration builds upon Mainz Biomed's initial utilization of EMERGE to analyze the Company's ColoFuture study, which recently reported groundbreaking results including sensitivity for colorectal cancer of 94% with a specificity of 97% and a sensitivity for advanced adenoma of 80%. ColoFuture is an international multi-center clinical trial which assessed the potential to integrate a portfolio of novel gene expression biomarkers into ColoAlert, Mainz Biomed's highly efficacious, and easy-to-use screening test for colorectal cancer being commercialized across Europe and in select international territories. This proprietary family of mRNA biomarkers represents a potentially game-changing innovation in CRC screening as the portfolio has previously demonstrated the ability to detect CRC lesions, including advanced adenomas, a type of pre-cancerous polyp often attributed to this deadly disease. Under the terms of the partnership, the utility of EMERGE in Mainz Biomed's product development pipeline will be extended to include analysis of its eAArly DETECT study and the forthcoming U.S. pivotal FDA PMA trial which, if successful, will enable Mainz Biomed to further advance its current test's capabilities and commercialize a next-generation, gold standard, self-administered CRC screening tool. The eAArly DETECT clinical trial, a multi-center feasibility study is enrolling 265 subjects across 22 sites and remains on track to report results in Q4 2023. The goal at completion will result in a single fixed machine learning/AI-based algorithm, developed utilizing the evolutionary EMERGE platform, integrated into the next-generation product's test report.
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STIM | Hot Stocks08:43 EST Neuronetics announces momentum from health plans for TMS therapy coverage - Neuronetics announced healthcare policy updates from Magellan, BlueCross BlueShield of Kansas City, and Dean Health Plan that increase access for patients to the Company's NeuroStar Advanced Therapy. Criteria changes from all three providers reduce the number of prior antidepressant medication failures from four down to two before a patient is eligible to receive coverage for transcranial magnetic stimulation therapy for major depressive disorder. Dean Health Plan has also removed the requirement for a prior trial of psychotherapy. The policy updates from BCBS Kansas City and Dean Health Plan are effective immediately, with the Magellan update going into effect on November 18, 2023. "It's heartening to see this inflection point for increased access to mental health coverage," stated Keith J. Sullivan, President, and CEO of Neuronetics Inc. "Reducing barriers and allowing people to receive proven treatments like NeuroStar TMS earlier in their care plan is a significant way payors can help alleviate the mental health crisis."
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RXRX... | Hot Stocks08:42 EST Recursion enters data collection deal with Tempus, updates focus of Bayer collab - Recursion announced two significant updates with their collaborators NVIDIA and Bayer, and a new collaboration with Tempus Labs as it creates infrastructure and expands its ambitions and scope in the precision oncology space. Recursion has come to an agreement with Tempus for preferred access to one of the world's largest proprietary, de-identified, patient-centric oncology datasets, spanning DNA, RNA, health records and more to support the discovery of potential biomarker-enriched therapeutics at scale through the training of causal AI models. By combining the forward genetics approach of Tempus with the reverse genetics approach at Recursion, the company believes it has an opportunity to improve the speed, precision and scale of therapeutic development in oncology. As part of the agreement, Recursion will pay Tempus up to $160M in cash or equity over the next five years in exchange for continued and updated data access and use rights for therapeutic development purposes. In aggregate, Recursion will now have access to approximately 50 petabytes of proprietary data across biology and chemistry as well as real-world, patient-centric data that is relatable and fit for the purpose of training large-scale AI/ML models, which it plans to use to drive novel therapeutic hypotheses, biomarker strategies, and patient cohort selection. To accelerate the impact of the proprietary data Recursion has accumulated, the company has committed to substantially expanding BioHive-1, its on-premise NVIDIA DGX SuperPOD-based supercomputer, adding over 500 NVIDIA H100 Tensor Core GPUs to the more than 300 NVIDIA A100 Tensor Core GPUs already in place to increase its computational capacity 4X. This greatly expanded compute power will support the company's pipeline, partnerships, and the construction of one of the largest foundation models of its kind across multiple modalities of biology and chemistry. Based on the June 2023 TOP500 list, Recursion projects that upon completion and benchmarking, BioHive-1 will likely be in the top 50 most powerful supercomputers in the world across any industry and would be the most powerful supercomputer owned and operated by any biopharma company. The company anticipates the enhancement of BioHive-1 to be operational in the first half of 2024. Recursion announced an updated collaboration with its established partner, Bayer, for a select set of precision oncology programs. This decision allows Bayer to leverage Recursion's state-of-the-art capabilities to identify novel targets and chemistry applicable to oncology indications. Under the terms of the agreement, the companies may initiate up to seven oncology programs and Recursion is eligible to receive potential, success-based, future payments of up to $1.5 billion plus royalties on net sales.
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OWLT | Hot Stocks08:40 EST Owlet announces De Novo clearance from the U.S. FDA of Dream Sock - Owlet, announces De Novo clearance from the U.S. Food and Drug Administration of Dream Sock, the first and only over-the-counter medical pulse oximetry solution for infants. Owlet is spearheading new standards for consumer and medical solutions, allowing caregivers to provide better care at home for their babies through access to advanced digital health technologies. The FDA-cleared Dream Sock will monitor and display Baby's Live Health Readings, including pulse rate and oxygen saturation level, and will provide Health Notifications, which will alert caregivers with lights and alarm sounds if their infant's readings fall outside of preset ranges. Owlet plans to make these new medical-grade features available to all existing and new Dream Sock users upon launch, soon to be announced. These cleared features are for use with healthy infants between 1-18 months and 6 lbs to 30 lbs.
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GNSS | Hot Stocks08:40 EST Genasys enters partnership with Ladris Technologies - Genasys announced its partnership with Ladris Technologies, Inc., an artificial intelligence software provider, to deliver comprehensive disaster evacuation modeling solutions across North America and Europe. Ladris software allows emergency managers, fire departments, law enforcement agencies, and other public sector officials to simulate detailed population responses for all-risk emergencies, including evacuation times and traffic conditions across any number of what-if scenarios. Through this combined solution, emergency managers, law and fire officials can use reliable, local data and evacuation zones for planning and operations, increasing pre-planning capabilities and situational awareness. This is particularly valuable for designing and executing progressive evacuation strategies and making key decisions for traffic control, congestion management and infrastructure optimization. Traditionally, it took years and significant expense to use data to manage and plan evacuations. First responders were often using historic, static data when it came to answering the question of how long it might take to evacuate a region. Now, emergency management personnel have advanced models to forecast evacuation times and optimize based on critical intelligence. This additional level of intelligence is key in fast-moving scenarios such as wildfires, where time is of the essence.
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PCVX | Hot Stocks08:39 EST Vaxcyte doses first participants in Phase 2/3 study on VAX-31 - Vaxcyte announced that the first participants were dosed in a Phase 1/2 clinical study for VAX-31, a 31-valent pneumococcal conjugate vaccine candidate designed to prevent invasive pneumococcal disease, in adults. The study, which will evaluate the safety, tolerability and immunogenicity of VAX-31, is expected to enroll approximately 1,000 adults aged 50 and older. The Company expects to announce topline data from the Phase 1/2 study in the second half of 2024. "We are pleased to initiate the first adult clinical study of VAX-31, which is the broadest-spectrum PCV to enter the clinic, with the potential to protect against approximately 95 percent of IPD circulating in the U.S. adult population," said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. "Leveraging the foundation established by our lead PCV candidate, VAX-24, we believe we have an opportunity to deliver a best-in-class PCV franchise that provides the broadest-spectrum of coverage and improved immune responses compared to the standard-of-care in adults today. We look forward to sharing the anticipated topline study results from the VAX-31 study in adults aged 50 and older in the second half of 2024."
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XRAY | Hot Stocks08:38 EST Dentsply Sirona board authorizes additional $1B share repurchase program - The Company is announcing that its Board of Directors has authorized an additional $1 billion share repurchase program.
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EVOK | Hot Stocks08:37 EST Evoke Pharma expects cash to fund operation into at least 1Q24 - As of September 30, 2023, cash and cash equivalents were approximately $6.0 million. We believe, based on our current operating plan, that our existing cash and cash equivalents, as well as future cash flows from net product sales of GIMOTI, will be sufficient to fund our operations into at least the first quarter of 2024.
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STGW GOOG | Hot Stocks08:35 EST Stagwell partners with Google Cloud for generative AI solutions - Stagwell (STGW) announced a unique partnership with Google (GOOG) Cloud and SADA, a Google Cloud Premier Partner, to develop generative AI marketing solutions that support Stagwell agencies, client partners, and product development within the Stagwell Marketing Cloud, or SMC. Through this collaboration, SMC will build AI-based tools for marketers and receive development support from Google Cloud as a strategic cloud and AI provider. Additionally, SMC plans on releasing its solutions on Google Cloud Marketplace in the future, scaling access to Stagwell's marketing-focused AI-enabled product suite.
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ISPR | Hot Stocks08:33 EST Ispire Technology's Aspire North America signs five-year agreement with Hempacco - Ispire Technology's Aspire North America operating subsidiary has entered a five-year exclusive manufacturing and global distribution agreements with Hempacco and its affiliate, a manufacturer of hemp-based alternatives, cannabinoid smokables and rolling papers and subsidiary of Green Globe International. Aspire has agreed to supply, distribute and commercialize Hempacco's branded cannabinoid and nicotine vapor products, namely Dogg Lbs by Snoop Dogg. Ispire will exclusively distribute vaping products worldwide for Hempacco, using the company's existing vapor ecosystem, which currently generates more than $100M in revenue each year.
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THRD | Hot Stocks08:32 EST Third Harmonic Bio expects cash to fund requirement through at least 2025 - Cash and cash equivalents totaled $273.9 million as of September 30, 2023. Based on the company's current operating plan, Third Harmonic Bio believes that its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements through at least 2025.
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DUOL | Hot Stocks08:30 EST Duolingo launches music, math on its app - Duolingo launched its new multi-subject app experience, by bringing its new Music course and updated Math course to its flagship app. Starting today, learners on iOS can easily switch between the new Music course, updated Math course, and more than 40 language courses. "Duolingo's mission has always been to create the best education possible and make it universally available," said Luis von Ahn, co-founder and CEO. "We started with language because we know it can have a profound positive impact on people's lives and we're incredibly proud to expand to new subjects, Music and Math, which help power personal growth, opportunity, and connection. My hope is that our gamified approach to teaching helps people improve their confidence in these traditionally challenging subjects."
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COLL | Hot Stocks08:29 EST Collegium Pharmaceutical announces $25M accelerated share repurchase program - Collegium Pharmaceutical announced that it has entered into an Accelerated Share Repurchase, ASR, agreement with Jefferies to repurchase $25M of the Company's common stock. Collegium will execute the ASR as part of the $100 million share repurchase program authorized by its Board of Directors in January 2023. Upon completion of this ASR, Collegium will have $25 million remaining under the program. "Our record financial performance in 2023 year-to-date puts Collegium on track to deliver a banner year. Our financial strength, underscored by robust cash generation, enables us to execute on our capital deployment strategy," said Joe Ciaffoni, President and Chief Executive Officer of Collegium. "We are committed to opportunistically returning value to our shareholders through our share repurchase program. Since 2021, we have returned $112 million of capital to our shareholders through share repurchases. This additional $25 million ASR program is a productive use of our capital with the potential to generate high returns for our shareholders." Under terms of the agreement, Collegium will pay $25M to Jefferies LLC and will receive an initial delivery of approximately 865,426 shares, based on the $23.11 closing stock price of Collegium's common stock on November 8, 2023, representing approximately 80% of the total shares the Company expects to repurchase under the ASR agreement. The final number of shares repurchased will be based on the volume-weighted average prices of Collegium's common stock during the term of the ASR and subject to adjustments related to the terms and conditions of the ASR agreement. The final settlement of the ASR is expected to be completed in the fourth quarter of 2023.
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BYND | Hot Stocks08:28 EST Beyond Meat says return to growth did not materialize amid consumer headwind - CEO Ethan Brown stated: "We expected a modest return to growth in the third quarter of 2023, which did not materialize as category-specific and broader consumer headwinds continued and drove weaker-than-expected sales volumes, reduced promotional effectiveness and adverse changes in our product sales mix... We are pursuing five main actions to improve our cost structure and overall operating performance. One, as previously announced, we are executing a 19% reduction in our global non-production employee base, immediate step in a broader program to improve our cost structure; two, we are reviewing our pricing strategy with certain channels to support margin expansion; three, we are continuing to utilize inventory management to reduce working capital; four, we are intensifying our focus on channels and geographies that are exhibiting revenue growth; and five, in U.S. retail, we are using our portfolio and marketing to directly counter misinformation about our products and category... As we look to 2024, we expect to implement a more nuanced pricing strategy, keeping certain programs and pricing in place, while adjusting others in support of gross margin expansion. Inventory management, we intend to continue to manage inventory levels down to generate cash. We've made some progress in this regard as inventory levels have fallen by 21% year-over-year, yet we have many miles left to travel as we seek to bring inventory in line with lean management principles. Commercial focus on current growth markets and channels, we are encouraged by and are investing in markets and partnerships that are currently exhibiting growth. This includes select markets in Europe and in particular, certain strategic partners where we are experiencing year-over-year double-digit growth." Comments taken from Q3 earnings conference call.
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MCIOF WHTCF | Hot Stocks08:28 EST HEALWELL AI makes investment, launches alliance with doctorly - HEALWELL AI has made a strategic investment in doctorly GmbH, a medical practice management software provider based in Germany. This partnership marks HEALWELL's entrance into the European healthcare technology landscape. doctorly is a digital health tech startup that has built a cloud-based, fully regulated practice management software to redefine how medical practices work. HEALWELL invested as part of a syndicate of venture investors which included Simon Capital, Geschwister and Oetker Beteiligungen. This financing round is in addition to the March 2023 investment in doctorly by HEALWELL's largest shareholder, WELL Health Technologies Corp and a syndicate of investors, including Horizons Ventures, The Delta Force AG, Speedinvest, UNIQA Ventures, Calm Storm and Seedcamp. HEALWELL and doctorly have also entered into a strategic alliance agreement, which provides HEALWELL with access to doctorly's rapidly expanding network of healthcare providers. This strategic alliance is expected to enhance HEALWELL's ability to deploy cutting-edge technology for the early detection and risk stratification of patients for various diseases, which would ultimately lead to better patient outcomes for physicians using doctorly's medical practice management software.
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AORT | Hot Stocks08:27 EST Artivion completes enrollment in PERSEVERE trial pf AMDS Hybrid Prosthesis - Artivion has completed enrollment in the PERSEVERE clinical trial, a prospective clinical trial to determine if patients with acute DeBakey Type I aortic dissection can be treated safely and effectively using the AMDS Hybrid Prosthesis. The trial is designed to support the company's forthcoming application to the FDA for premarket approval of the AMDS. The trial will consist of 93 participants in the U.S., who have experienced an acute DeBakey Type I aortic dissection. Each participant will be followed for up to 5 years. The combined 30-day safety and primary efficacy endpoints will determine the impact of the AMDS Hybrid Prosthesis on reducing mortality, new disabling stroke, myocardial infarction, and new onset renal failure requiring dialysis, and remodeling of the aorta. The completion of the enrollment of the study keeps the study on track to achieve PMA approval in the second half of 2025.
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DXR | Hot Stocks08:26 EST Daxor awarded new patent for remote monitoring of blood volume - Daxor announces that Daxor was recently granted a patent for a system to provide remote blood volume monitoring after initial testing with Daxor BVA-100 diagnostic. This U.S. patent number adds to our existing portfolio that includes more than a dozen issued and pending-review patents. The recently issued patent provides remote blood volume monitoring through various methods including wearable devices such as smartwatches for a wide variety of medical conditions for which volume assessment is recommended. This proprietary technology will help ensure ongoing care is optimized based on the patient's evolving blood volume status. "Daxor has a robust research and development program focused on innovation and next-generation technologies, including approaches to blood volume optimization that rely on leveraging smart algorithms, computer-assisted clinical decision support, and novel hardware. These efforts are supported by funding we have received from the National Institute of Health and United States Department of Defense and are part of our strategy of adding significant intellectual property assets to the company to fuel future product development," said Michael Feldschuh, Chief Executive Officer of Daxor.
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AWH | Hot Stocks08:26 EST Aspira supports CMS proposed rule to crosswalk Medicare rate for OvaWatch - Aspira Women's Health announced that during the 2024 Clinical Laboratory Fee Schedule rate setting process, the Centers for Medicare & Medicaid Services, CMS, has proposed to crosswalk the fee paid to the company for OvaWatch to the fee paid historically for Ova1. If finalized later this month, Aspira would be reimbursed at a rate of $897 for all OvaWatch and Ova1 tests processed for Medicare patients meeting applicable coverage requirements beginning in January 2024. The public comment period ended on October 27. "CMS's proposal to crosswalk the OvaWatch reimbursement rate is a notable step in our journey as we continue our mission of gaining broad reimbursement coverage for our OvaSuiteSM tests, the only non-invasive tests that aid in the identification of ovarian cancer in women with pelvic masses," said Nicole Sandford, President and Chief Executive Officer of Aspira. "We are one step closer to achieving our mission of ensuring this ground-breaking technology is available to all women when they are facing an ovarian cancer diagnosis."
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ESTA | Hot Stocks08:24 EST Establishment Labs gets NMPA approval in China for Motiva Implants - Establishment Labs Holdings announced it has received National Medical Products Administration NMPA approval in China for Motiva Implants. "Our approval in China marks Establishment Labs' entry into the second largest global and most dynamic market for breast aesthetics in the world," said Juan Jose Chacon-Quiros, Chief Executive Officer. "This is the first breast implant technology approved in China in more than a decade. Many Chinese plastic surgeons are familiar with Motiva Implants from other Asian countries where we have leading market shares, and we expect they will adopt our technology as their first choice." "We transformed the breast aesthetics market in South Korea with Motiva, and we are excited to replicate that success in China," added John Lim, Founder and CEO of Motiva China Ltd., Establishment Labs exclusive distribution partner in the market. "Three years after launching in Korea in 2016, we became the market leader. Today, Motiva is far and away the most chosen and most recognized brand in Korea. Most importantly, we changed the perception of our industry. Chinese plastic surgeons and consumers are highly attuned to the latest innovations in science and technology, and, just like the Koreans, we expect they will recognize Motiva as truly innovative and differentiated."
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PDSB | Hot Stocks08:24 EST PDS Biotechnology announces updated survival data from Phase 2 trial of PDS0101 - PDS Biotechnology announced updated survival data from the Phase 2 clinical trial investigating the triple combination of PDS0101, PDS0301 and an investigational immune checkpoint inhibitor, ICI, in two groups of advanced cancer patients with various types of human papillomavirus (HPV) 16-positive cancers. The ICI naive group had not responded to standard-of-care treatments but had not yet been treated with an ICI. The ICI resistant group included patients who had not responded to multiple prior treatments, including ICI therapy. Investigators at the National Cancer Institute, NCI, part of the National Institutes of Health, have completed the primary endpoint analysis of the Phase 2 trial. In the ICI naive group, final survival data from the trial indicated that 75% of these patients were still alive at 36 months, and the median overall survival has not yet been reached. Published data on standard-of-care ICIs report 30-50% of these patients typically remain alive at 12 months, and less than 30% of the patients remain alive at 24 months. In the ICI resistant group, the 12-month OS rate was 72% and the triple combination achieved a median OS of approximately 20 months. In addition: For PDS0101 plus high doses of ICI and PDS0301, the overall response rate was 63%; For PDS0101 plus low doses of ICI and/or PDS0301, the ORR was 5%; The historical median survival for ICI therapy in HPV-positive cancer ICI resistant patients is reported to be 3.4 months. "We are encouraged by the survival rates for both ICI naive and ICI resistant patients with HPV16-positive cancers who were treated with the triple combination therapy," said Frank Bedu-Addo, PhD, Chief Executive Officer of PDS Biotech. "The ICI resistant data from the VERSATILE-002 trial evaluating PDS0101 in combination with KEYTRUDA that were reported October 3, 2023, further clarify the path forward for a potential registrational clinical trial of PDS0101 and PDS0301 in combination with a commercial ICI. With this exciting information, we will be finalizing the regulatory and clinical pathway for the triple combination with OS as the primary endpoint."
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TGNA | Hot Stocks08:22 EST Tegna enters into $325M accelerated share repurchase pact - Tegna announced that it has entered into an accelerated share repurchase agreement or ASR with JPMorgan Chase Bank, National Association...Under the terms of the ASR, TEGNA will repurchase $325 M in TEGNA common shares from JPMorgan, with an initial delivery of approximately 17.3M shares on November 13. The final number of shares to be repurchased will be based on the average daily volume-weighted average price of TEGNA shares during the term of the ASR, less a discount and subject to customary adjustments pursuant to the terms of the ASR. The final settlement of the ASR is expected to be completed by the end of the first quarter of 2024, subject to acceleration at JPMorgan's discretion. TEGNA completed its initial $300 M ASR program on August 31 earlier than anticipated. Following the completion of the initial ASR and before entering TEGNA's third quarter blackout period on September 16, the Company opportunistically repurchased an incremental $28 Mof shares taking advantage of attractive market pricing. The repurchases were made under TEGNA's existing share repurchase program approved by the Board of Directors in December of 2020. The initial $300M ASR program reduced the Company's outstanding shares by approximately 18 million, including final settlement of approximately 3M shares.
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IMMP | Hot Stocks08:22 EST Immutep completes enrollment in TACTI-003 Phase IIb trial - Immutep announces the completion of patient enrollment in the TACTI-003 Phase IIb trial evaluating eftilagimod alpha, its proprietary soluble LAG-3 protein and MHC Class II agonist, in combination with MSD's anti-PD-1 therapy KEYTRUDA as first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma. The Phase IIb trial enrolled 171 patients at over 30 centres across the United States, Europe, and Australia to evaluate the safety and efficacy of efti in combination with pembrolizumab in patients with PD-L1 positive tumors and in patients with PD-L1 negative tumors. A total of 138 patients with recurrent or metastatic HNSCC whose tumours express PD-L1 have been enrolled into the 1:1 randomized Cohort A of the trial evaluating the safety and efficacy of 30mg of efti in combination with 400mg of KEYTRUDA given every six weeks compared to 400mg of KEYTRUDA alone. Patients in Cohort A whose tumors express PD-L1 are also stratified by CPS 1-19 and CPS greater than20, and the clinical results for these three CPS groups will be evaluated. Additionally, 33 patients with recurrent or metastatic HNSCC were enrolled into Cohort B to determine the efficacy and safety of the same combination therapy in patients with PD-L1 negative tumours. These patients are not expected to respond to KEYTRUDA monotherapy, with a typical Overall Response Rate of up to 5%, and therefore were not randomized.1 Due to a higher number of patients with negative PD-L1 expression who were eligible for and allocated to Cohort B and the number of patients in screening at the time of achieving the trial's enrollment goal, the trial enrolled 171 patients. The primary endpoint of the study is Overall Response Rate of evaluable patients according to RECIST 1.1. Secondary endpoints include Overall Survival, Overall Response Rate according to iRECIST, Progression Free Survival, and Duration of Response. The primary analysis according to the trial protocol will be performed after all subjects have completed at least three cycles of treatment or discontinued the trial, and all relevant data for the primary endpoint has been collected, cleaned, and analysed. The Company expects to report data from the trial in H1 CY2024.
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INFY BETR | Hot Stocks08:20 EST Infosys, Better Home & Finance announce collaboration - Infosys (INFY) announced a collaboration with Better Home & Finance Holding Company (BETR) to launch Mortgage as a Service, an integrated end-to-end digital mortgage white-labelled platform. By adopting Infosys-Better white-labelled MaaS, organizations can revolutionize their mortgage operations. Better's proprietary digital technology is an end-to-end platform including point of sale, pricing, underwriting, loan origination, closing, funding and investor sale - built to be cloud-native. Better has already funded over $100B in fully digital loans for the industry, and their status as an industry leader is reflected in their client Ally's ranking as the #1 Digital Mortgage Platform by J.D. Power. Infosys is one of the world's largest digital service providers to mortgage firms helping them to strengthen their technology and operations. With its digital-first, cloud-first and AI-first approach, Infosys is best equipped to help its clients to reap the advantages of Mortgage as a Service faster.
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KTTA | Hot Stocks08:20 EST Pasithea Therapeutics selects PAS-003 lead development candidate - Pasithea Therapeutics has selected a lead therapeutic candidate for its PAS-003 program, a proprietary humanized monoclonal antibody that targets alpha5beta1 integrin, a protein found to be overexpressed in both human and mouse subjects with amyotrophic lateral sclerosis. Scientists at Pasithea have performed extensive mAb screening and characterization to enable selection of a lead therapeutic candidate with optimal properties for the treatment of ALS. This work included further validation of alpha5beta1 integrin as a target in both familial and sporadic ALS mouse models with reproducible improvements on behavior and survival. Extensive mechanism of action studies link disease model efficacy to effects on the migration and adhesion of immune cells. The humanized lead candidate is a potent inhibitor of the primary ligand fibronectin, has been optimized for high affinity and has high specificity with contact sites directly adjacent to the FN binding site documented by cryogenic electron microscopy.
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CNM | Hot Stocks08:18 EST Core & Main signs agreement to acquire Granite Water Works, no terms - Core & Main has entered into a definitive agreement to acquire substantially all of the assets of Granite Water Works Inc., a provider of water, wastewater and storm drainage products in Minnesota. "The strong local relationships and commitment to dependable service that Granite Water Works will bring to Core & Main will greatly amplify our capabilities and presence in central Minnesota," said Steve LeClair, chief executive officer of Core & Main. Granite Water Works is a leading distributor of high-quality waterworks and subsurface drainage supplies for contractors and municipalities in central Minnesota. Since 1990, their experienced team has consistently delivered high-quality products and personalized service to their customers from their Waite Park, Minnesota, location. "Granite Water Works has firmly established itself as a trusted partner to contractors and municipalities in its community," said Jack Schaller, president of Core & Main. "The depth of local market knowledge its team brings makes it a terrific addition to our existing business, and we look forward to welcoming the team into the Core & Main family."
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GIS | Hot Stocks08:16 EST General Mills acquires pet supplement company Fera Pets, no terms - General Mills announced the acquisition of Fera Pets, a vet-founded pet supplement company, bringing new health-focused offerings to General Mills' pet portfolio. This represents General Mills' first step into the pet supplement category and first acquisition by its newly launched growth equity fund. As the pet food trend toward humanization continues, pet parents are increasingly demanding healthful products they can trust. Fera Pets, Inc. is reimagining pet supplement products by providing vet-created, science-backed supplements to support pet wellness with high-quality ingredients, accurate dosages and a combination of Eastern and Western medicine. "The pet wellbeing category is on the rise, as more families look to take care of their pets the same way they take care of their own health," said John Parrish, vice president, Disruptive Growth, General Mills. "We're excited to welcome Fera Pets, Inc. to its new home and look forward to partnering to scale the brand and bring more high-quality pet supplement products to more pets."
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PHAT | Hot Stocks08:09 EST Phathom Pharmaceuticals expects cash to fund operations through end of 2025 - Based on its current operating plan, including expected product revenues, the funds available under its existing term loan with Hercules and cash to be paid under our royalty interest financing agreement based on the recent approval of VOQUEZNA for Erosive GERD, Phathom believes it will have sufficient capital to fund operations through the end of 2025.
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DARE | Hot Stocks08:07 EST Dare Bioscience evaluating wide range of financing opportunities - Cash and cash equivalents: $13.8 million at September 30, 2023. The company is currently evaluating a wide range of financing opportunities, including creative and innovative vehicles to fund its portfolio.
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BYRN | Hot Stocks08:06 EST Byrna Technologies secures order from State of Hawaii Sherriff's Division - Byrna Technologies announced it has supplied the State of Hawaii Sherriff's Division with 100 Byrna SD launchers, along with ammunition and accessories. Byrna began engaging with the State of Hawaii Sherriff's Division in May of 2022. The agency diligently evaluated various less-lethal platforms before ultimately selecting Byrna as their preferred choice. The introduction of Byrna devices into Hawaii will commence on the island of Oahu immediately, with plans for expansion to other islands within the state in the near future.
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ACFN | Hot Stocks08:03 EST Acorn Energy finalizes reseller agreement - "This week we finalized a non-exclusive reseller agreement with one of the nation's largest multi-regional commercial generator dealers. We believe this agreement could yield 2,500 to 3,000 new monitoring connections per year for OmniMetrix, which could represent hardware sales, activation fees and monitoring revenue totaling between $1-2 million per year. Importantly, endpoints added from this relationship are expected to make a meaningful contribution to the growth of our base of recurring monitoring revenue. We expect initial revenue from this relationship to start in the first quarter of 2024 and to build as the program is rolled out across their dealer network."
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ARWYF | Hot Stocks07:56 EST ARway.ai expands SaaS augmented reality experience platform - ARway.ai announces ten new developer SaaS subscription deals starting at $249/month from countries around the globe, targeted at various industries and use-cases leveraging ARway's groundbreaking augmented reality technology. ARway.ai currently has over 3,000 user accounts signed up for its platform which represent additional future potential revenue.
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NEXCF | Hot Stocks07:55 EST Nextech3D.ai announces new 3D modeling deals - Nextech3D.AI announced a number of exciting new deals and renewals for its 3D modeling business. Thus far, the Company has delivered 60,000+ models to its customers across various industries. The Company expects to see significant growth in 2024 and beyond as Amazon increases its demands.
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LASE | Hot Stocks07:55 EST Laser Photonics receives order from fabrication company - Laser Photonics received an order for its CleanTech LPC-1000-CTHS laser cleaning system. Taller de Soldadura Rodriguez, a fabrication and vehicle modification company based in Costa Rica, was looking for a cost-effective and time-efficient method of cleaning parts on the vehicles they work on. For this reason, they purchased a laser cleaning system from Laser Photonics that can effectively remove corrosion, contaminants, and coatings.
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ARAAF | Hot Stocks07:54 EST Aclara Resources announces improved grades at Carina Module - Aclara Resources provides an update on the latest activities related to the Carina Module located in the State of Goias, Brazil. Since announcing the discovery of the Carina Module on October 11, 2023, the Company has received the remaining desorbable chemical assays from the initial auger drilling campaign. Furthermore, a reverse circulation drilling campaign has started and the first tranche of the earn-in agreement has been fulfilled, thus securing 51% ownership of the 8,490 hectares comprising the Carina Module. Ramon Barua, CEO, commented: "We are pleased to report that the remaining results of our initial drilling campaign at the Carina Module have been received, which show improved grades compared to our initial results. The preparation of the maiden mineral resource estimate is underway and we expect it should be ready in the coming weeks. Even though our initial drilling campaign has only extended to approximately 7 meters below surface, we believe that the model will confirm the discovery of an attractive rare earths deposit. Furthermore, the next phase of our drilling campaign is underway, this time using RC drilling equipment, which will allow deeper holes to be drilled with the objective of understanding the full potential of the deposit at depth. The assay results show strong desorbable grades for both heavy and light rare earths, favorable metallurgy, and a mineralized footprint that covers an area ten times larger than our Penco Module in Chile. In a recent trip to Goiania, the capital of the State of Goias, we were received by the Governor, Ronaldo Caiado, and the Secretaries of the Environment, Industry and Infrastructure, and were given the opportunity to present our proposed project. The encouraging geological results combined with an enthusiastic reception from the local authorities provide us with optimism about the outlook of the Carina Module." The balance of the results from the initial auger drilling campaign, which were still pending at the time of the Carina Module discovery press release on October 11, 2023, were received and they show improved results, further consolidating the quality of the discovery. Prospective Grades: The drilling results show higher Total Rare Earth Oxides with average grades at 1,229 ppm. From an average drilling depth of 7.2 meters, 89.1% of the drillholes include 6.1 meters with TREO average grades at 1,510ppm and Desorbable Rare Earth Oxides at 470ppm.
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MSC | Hot Stocks07:51 EST Studio City Finance announces tender offer for up to $75M of senior notes - Studio City Finance has initiated a cash tender offer for up to an aggregate principal amount of $75 million of its outstanding 6.000% senior notes due 2025. The Tender Offer is being made upon and is subject to the terms and conditions set out in the Offer to Purchase, dated November 9, 2023. The Tender Offer will expire at 5:00 p.m., New York City time, on December 8, 2023, unless extended or terminated by Studio City Finance. Tenders of the Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on November 22, 2023, but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law. The consideration for each US$1,000 principal amount of Notes validly tendered on or prior to 5:00 p.m., New York City time, on November 22, 2023, and accepted for purchase will be US$975, which includes an early tender premium. The consideration for each US$1,000 principal amount of Notes validly tendered after the Early Tender Date and on or prior to the Expiration Time and accepted for purchase will be US$945. Notes will be accepted only in minimum denominations of US$200,000 and integral multiples of US$1,000 in excess thereof. The Notes may be subject to proration if the aggregate principal amount of the Notes validly tendered would cause the Maximum Tender Amount to be exceeded.
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SUMXF | Hot Stocks07:50 EST Supremex to continue to look for strategic acquisitions - The company said, "As customers continue to work through excess inventory, the pace of market recovery remains adversely impacted by higher interest rates and inflation. The Company expects these conditions to influence its fourth quarter results, although they appear to have leveled off. Supremex will rely on its solid reputation and geographic reach to assist in mitigating a slowdown while continuing to proactively control expenses. The Company remains focused on capturing all sales and cost synergies from recent business acquisitions. As such, the optimization initiatives announced on October 17, 2023 for the Packaging and specialty products segment are expected to yield annual cost savings of approximately $1.5 million once all measures are implemented, while a new management structure will enhance capacity to drive value in each target market and maintain proximity with customers. With respect to capital deployment, the Company will continue to look for strategic acquisitions, mainly in the Packaging and specialty products segment, while sustaining capital returns to shareholders.
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EGRX | Hot Stocks07:49 EST Eagle Pharmaceuticals is delaying the release of its Q3 results - Eagle Pharmaceuticals announced that it will be delaying the release of its third quarter 2023 results and investor conference call, previously scheduled for today, Thursday, November 9, 2023. The Company currently anticipates filing a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission no later than one business day after the due date of its Quarterly Report on Form 10-Q for the third quarter ended September 30, 2023, and expects to file its Form 10-Q by November 14, 2023, prior to the expiration of the extension period provided by Rule 12b-25 under the Securities Exchange Act of 1934. The Company requires more time to review potential adjustments relating to the reporting of sales of PEMFEXY prior to filing its Form 10-Q. In addition, the Company expects to revise its previously disclosed 2023 full year guidance downward. "We remain confident in the strength of our business and our outlook for 2024, and we look forward to reporting on our commercial portfolio, progress on our pipeline and other initiatives," stated Scott Tarriff, President and CEO of Eagle.
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LFSWF | Hot Stocks07:47 EST Lifeist announces CannMart made first product delivery through B2B network - Lifeist Wellness announced that its subsidiary CannMart has made its first product delivery through its extensive B2B wholesale distribution network to the province of Newfoundland and Labrador. This marks the first CannMart products under its in-house brand Roilty to be sold to Newfoundland and Labrador, with expansion intentions for cannabis brands Zest and Rilaxe. "The dedication and tireless effort involved in crafting a brand that truly connects with consumers can often go unnoticed amidst the daily grind of business. However, these nominations provide a well-deserved spotlight on CannMart's unwavering commitment to nurturing the robust consumer brands, Roilty," expressed Daniel Stern, CEO of CannMart. "Today, Roilty stands proud as one of the top three concentrate brands across Canada. This achievement is a testament to the brand's evolution and the exceptional work in marketing it both in-store and at events, in collaboration with budtenders and everyday consumers. The insights and accomplishments garnered from Roilty are now instrumental in propelling Zest Cannabis into the spotlight as well."
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BRLXF | Hot Stocks07:46 EST Boralex to continue to work on initiatives under 2025 Strategic Plan - Boralex's 2025 Strategic Plan is built around the same four strategic directions as the plan launched in 2019 - growth, diversification, customers and optimization - and six corporate targets. The details of the plan, which also sets out Boralex's corporate social responsibility strategy, are found in the Company's annual report. Highlights of the main achievements for the quarter ended September 30, 2023, in relation to the 2025 Strategic Plan can be found in the 2023 Interim Report 3, available in the Investors section of the Boralex website. In the coming quarters, Boralex will continue to work on its various initiatives under the strategic plan, including project development, analysis of acquisition targets and optimization of power sales and operating costs. Finally, to pursue its organic growth, the Company has a pipeline of projects at various stages of development defined on the basis of clearly identified criteria, totalling 6.4 GW of wind, solar and energy storage projects.
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RWBYF | Hot Stocks07:46 EST Red White & Bloom Brands launches Platinum in Ohio - Red White & Bloom Brands announces its entry into the rapidly growing Ohio cannabis market through the execution of a licensing arrangement with a first mover, vertically integrated Ohio distributor. This strategic partnership allows RWB to leverage the distributor's retail network to introduce its renowned Platinum Vape cartridges and disposable vapes, available in various formats, across more than ninety licensed retail locations in the state. Colby De Zen, President of RWB, expressed enthusiasm about the Company's recent entry into Ohio. "RWB takes great pride in expanding its presence in emerging adult-use markets in the United States. Ohio represents another pivotal entry point for RWB, allowing us to leverage the continually strengthening brand equity of Platinum, which has consistently excelled in the vape categories in neighboring Michigan. RWB remains focused on ensuring that each of its' expansion efforts are reinforced by well-established licensing partners who recognize the value of premium Platinum cannabis products. These partners contribute to enhancing the consumer experience and also possess the commercial capacity to meet the growing demand for our esteemed Platinum product line, supported by RWB's targeted marketing efforts."
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CLMT | Hot Stocks07:45 EST Calumet Specialty Products transitioning to new Delaware corporation - Calumet Specialty Products Partners announced the execution of an agreement to effectuate a corporate transition of Calumet Specialty Products Partners to a new Delaware corporation. The Board of Directors of the General Partner has unanimously approved the terms of the agreement. Each common unit representing a limited partnership interest in the Partnership will be converted into the right to receive one share of New Calumet's common stock. All incentive distribution rights in the Partnership and the 2.0% General Partner interest in the Partnership will be converted into the right to receive 5.5 million shares of Common Stock and 2.0 million warrants with a three-year term and an exercise price of $20.00 per share, which shares and warrants will be issued to the owners of the General Partner. New Calumet will be governed by a board of directors of nine directors. Completion of the Corporate Transition is subject to customary conditions including the approval by the Partnership's unitholders at a special meeting and the customary closing conditions of the associated agreements having been satisfied or waived. The associated merger is intended to be tax-free to unitholders subject to potential recapture for some unitholders as a result of the change in tax status from a partnership to a C-Corporation. The Corporate Transition is expected to close within nine months.
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TLRY | Hot Stocks07:45 EST Tilray's Good Supply launches new seasonal campaign - Tilray Brands announced that its best-selling Canadian cannabis brand, Good Supply, just unveiled a new seasonal campaign, 'Get Blitzen'd'. Amplifying the festive cheer, Good Supply introduces its first-ever limited-edition 'Holiday Helpers' 36-pack of pre-rolls and 'The Grump' - a special holiday offering of the acclaimed MONSTERS 1,000mg infused pre-roll.
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PHIO | Hot Stocks07:44 EST Phio announces first U.S. patient enrolled in Phase 1b trial with PH-762 - Phio Pharmaceuticals announced that the first patient has been dosed in the Phase 1b clinical trial of PH-762, an INTASYL compound that reduces the expression of PD-1, a protein that inhibits T cells' ability to kill cancer cells. This clinical trial is designed to evaluate the safety and tolerability of neoadjuvant use of intratumorally injected PH-762, assess the tumor response, and determine the dose or dose range for continued study of PH-762 in patients with cutaneous squamous cell carcinoma, melanoma, or Merkel cell carcinoma. "The initiation of enrollment in this trial represents a milestone as we develop PH-762 for the treatment of squamous cell and other skin cancers," said Phio's President and CEO Robert Bitterman. "We are optimistic that this novel, alternative immuno-oncology therapy may offer patients and their care providers, enhanced therapeutic outcomes while minimizing invasive intervention."
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LILM | Hot Stocks07:43 EST Lilium, Michelin announces development, serial production of Lilum Jet Tires - Lilium and Michelin announced a partnership for the Lilium Jet's tires. Lilium and Michelin began working together more than a year ago to develop and produce custom tires for the Lilium Jet and have now signed a final agreement covering design, serial production, and support. The partnership leverages Michelin's 100 plus years of experience working with the aeronautical industry to deliver an innovative tire solution that meets the safety weight, and reliability requirements for the revolutionary Lilium Jet. The first tires are expected to be delivered to Lilium facilities this month. Klaus Roewe, CEO of Lilium, said: "We are proud of the innovation and development work completed alongside Michelin that has culminated in this agreement. This critical component, which will help to mobilize and operate our jet at our required specifications and performance levels, serves as a confirmation of our unrelenting pursuit of innovation and sustainability in regional air mobility."
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ZVSA | Hot Stocks07:41 EST ZyVersa Therapeutics announces article on NLRP3 in an IBD animal model - ZyVersa Therapeutics announces publication of an article in the peer-reviewed Biomedical Journal demonstrating that inhibiting NLRP3 inflammasomes in an IBD animal model attenuates intestinal inflammation and tissue damage, leading to significant improvements in IBD symptoms, and restoration of normal intestinal microbial flora. In the paper titled, "Inhibition of NLRP3 attenuates sodium dextran sulfate-induced inflammatory bowel disease through gut microbiota regulation," the authors evaluated human colon biopsy samples from patients with IBD and healthy controls, and conducted a study in an IBD mouse model. Following are key findings reported in the paper: NLRP3 and IL-1beta expression is increased in the colon of IBD patients. NLRP3 inhibition in the IBD animal model: Inhibited NLRP3 inflammasome signaling in the colon, resulting in significantly reduced levels of the pro-inflammatory cytokines IL-1b, IL-6, and TNF-alpha. Alleviated severe diarrhea and significantly improved IBD symptoms, based on the disease activity index score. Attenuated histopathological changes indicative of tissue damage. Restored gut microbiota to normal. "Restoration of quality of life is the ultimate long-term goal in IBD management. Although disease remission can often be achieved with current therapies, bothersome symptoms can still prevail," stated Stephen C. Glover, ZyVersa's Co-founder, Chairman, CEO and President. "The research published in the Biomedical Journal provides support for inflammasome inhibition as a promising treatment option for IBD. ZyVersa is developing Inflammasome ASC inhibitor IC 100. Unlike NLRP3 inhibitors, designed to inhibit formation of one inflammasome to block initiation of the inflammatory cascade, IC 100 was designed to inhibit multiple types of inflammasomes and their associated ASC specks to uniquely block both initiation and perpetuation of damaging inflammation, which we believe is necessary to control chronic inflammation."
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AYRWF | Hot Stocks07:38 EST AYR Cannabis Dispensary carries Kiva Camino gummies in Florida - AYR Cannabis Dispensary launched Kiva Confections Camino Soft Chews across its network of 62+ Florida dispensaries. The launch follows the Company's entrance into a three-year, exclusive licensing and retail agreement in Florida with Kiva Confections, a global leader in cannabis edibles. AYR Cannabis Dispensaries in Florida will carry five of Kiva's popular Camino Soft Chews, including Sleep Midnight Blueberry with CBN, Balance Yuzu Lemon with CBD, Uplifting Pineapple Habanero, and Bliss Watermelon Lemonade, with Chill Wild Berry to come. In the future, AYR locations will offer additional brands from Kiva's portfolio, such as Camino Sours, Lost Farm, and Petra.
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STNG | Hot Stocks07:37 EST Scorpio Tankers increases quarterly dividend to 35c per share - On November 9, 2023, the Board of Directors declared a quarterly cash dividend of $0.35 per common share, with a payment date of December 15, 2023 to all shareholders of record as of November 30, 2023. As of November 9, 2023, there were 53,107,765 common shares of the Company outstanding.
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STNG | Hot Stocks07:36 EST Scorpio Tankers board replenishes $250M securities repurchase program - From July 1, 2023 through September 30, 2023, the Company repurchased 1,648,355 of its common shares in the open market at an average price of $47.74 per share under the 2023 Securities Repurchase Program. From October 1, 2023 through November 8, 2023, the Company repurchased 241,288 of its common shares in the open market at an average price of $49.88 per share under the 2023 Securities Repurchase Program. On November 9, 2023, the Company's Board of Directors replenished the 2023 Securities Repurchase Program to purchase up to an aggregate of $250 million of the Company's securities which, in addition to its common shares also consist of its Senior Unsecured Notes Due 2025. This program resets the program that was previously replenished on May 31, 2023. There is $250 million available under the 2023 Securities Repurchase Program as of November 9, 2023.
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ARCC | Hot Stocks07:35 EST Ares Capital appoints Treasurer Scott Lem as CFO - Ares Capital C announced that Ares Capital's Chief Accounting Officer, Vice President and Treasurer, Scott Lem, has been appointed as its new Chief Financial Officer, effective February 15 Mr. Lem succeeds Penni Roll, who plans to step down as Ares Capital's Chief Financial Officer, effective the same date. Ms. Roll, who also serves as the Chief Financial Officer of Ares Management Corporation's Credit Group, will remain an officer of Ares Capital and at Ares in a senior leadership capacity.
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HCA | Hot Stocks07:33 EST HCA Healthcare provides five-year targets ahead of investor day - HCA Healthcare will host its Investor Day beginning at 8:00 a.m. CT. A team of HCA Healthcare leaders will offer perspectives on the company's financial performance, operations, and strategy to drive growth and create value. As part of investor day, the company will discuss its strategic assessment of market opportunities and capital capacity. Based on this assessment, and subject to certain underlying assumptions, it is currently targeting over the next five years: adjusted EBITDA growth between 4% and 6%; and diluted earnings per share growth between 8% and 12%. The company's targeted annual growth ranges are a composite of anticipated results over time. Actual performance in any given year may vary from these ranges for a variety of reasons.
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AZN | Hot Stocks07:33 EST AstraZeneca: Imfinzi+bevacizumab met primary endpoint for PFS in liver cancer - First global Phase III trial to show improved clinical outcome for systemic therapy in combination with transarterial chemoembolization TACE in this setting Positive high-level results from the EMERALD-1 Phase III trial showed AstraZeneca's IMFINZI or durvalumab in combination with transarterial chemoembolization TACE and bevacizumab demonstrated a statistically significant and clinically meaningful improvement in the primary endpoint of progression-free survival PFS versus TACE alone in patients with hepatocellular carcinoma HCC eligible for embolization. The trial continues to follow the secondary endpoint of overall survival OS . Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said: "These positive results for IMFINZI-based treatment in EMERALD-1 may bring the potential of immunotherapy to patients with earlier stages of liver cancer. We look forward to discussing these data with regulatory authorities and seeing the survival data mature over time, which will be important as we aim to bring this novel treatment option to patients." The safety profiles for IMFINZI and TACE plus bevacizumab were consistent with the known profile of each medicine, and there were no new safety findings. The data will be presented at a forthcoming medical meeting and shared with regulatory authorities.
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XMTR... | Hot Stocks07:32 EST Xometry leverages Google Cloud to accelerate digitization of manufacturing - Xometry (XMTR) announced a partnership with Google Cloud (GOOG;GOOGL) to leverage Vertex AI to help accelerate the deployment of new auto-quote methods and models within Xometry's AI-powered Instant Quoting Engine. Using Vertex AI, Xometry will accelerate the deployment of its instant-quoting and fulfillment capabilities to encompass the broadest and most comprehensive set of manufacturing technologies. As a result, Vertex AI will help Xometry expand the markets it serves for custom manufacturing and further advance the digitization of manufacturing globally. "Since our inception, Xometry's two-sided marketplace has harnessed data and the power of AI to connect buyers and suppliers in real-time, driving the digitization of industry around the world," said Matt Leibel, Xometry's Chief Technology Officer. "Google Cloud's expertise in AI and its Vertex AI platform will help enable us to get to market even faster with new offerings in entirely new categories, allowing us to become even more indispensable to our customers and suppliers globally."
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LLAP | Hot Stocks07:31 EST investor group sends letter to Terran Orbital board regarding meeting request - A group of concerned investors in Terran Orbital comprised of Sophis Investments, Roark's Drift and Tyvak Nano-Satellite Systems' co-founders, Jordi Puig-Suari, Roland Coelho and Austin Williams, together with certain affiliates, which owns approximately 8.4% of the company's common stock, sent a third request to the company's board of directors to discuss protecting and optimizing long-term shareholder value. After repeated attempts, the investor group relayed another message to encourage constructive dialogue with the board regarding opportunities to enhance shareholder value, including, separating the roles of chairman and CEO and hiring a new CEO with demonstrable industry experience and credibility, reconstituting the board and instituting corporate governance practices, and conducting a strategic review process. The full text of the letter follows: "...As our goal remains to protect and maximize the material value we believe is embedded within Terran, we are following up on our previously unanswered correspondence addressed to Terran's Board of Directors (the "Board") dated October 11, 2023 and October 15, 2023. The Concerned Investor Group is the Company's largest independent shareholder and is comprised of co-founders of the Company who have a demonstrable, intimate understanding of Terran, deep industry expertise relevant to its business, and who are committed to helping the Company realize its full potential. Despite the statements made by the Company during its Virtual Town Hall held on October 26, 2023 and in its October 19, 2023 open letter to shareholders that it welcomes and considers shareholder feedback, the Board has ignored our multiple requests for a meeting. Moreover, the Board has seemingly dismissed out of hand the proposals outlined in our letter dated October 11, 2023 regarding opportunities to enhance shareholder value, including (i) separating the roles of Chairman and CEO and hiring a new CEO with demonstrable industry experience and credibility, (ii) reconstituting the Board and instituting best-in-class corporate governance practices, and (iii) conducting a strategic review process. It is simply unacceptable that the Board has refused to meet with us and rather has decided to adopt a seemingly hostile and dismissive attitude toward us as shareholders. We believe such a stance only further erodes shareholder value and market confidence in Terran. Based on our due diligence, we anticipate that the Company will report FY2023 revenue of approximately $143 million, materially below Company guidance of $250 million provided throughout the year.1 Our reduced revenue projection is based on the revenue shortfall due to the delays in customer activity referenced in the Company's September 20, 2023 prospectus and again during the October 26, 2023 Virtual Town Hall. Make no mistake: a 43% miss vs. revenue guidance, with less than eight weeks to go in the year and without proactively providing investors with an interim update, raises major concerns while continuing to call into question the Board and management's credibility. Furthermore, in light of the Company's cash burn rate, treating such a large miss nonchalantly or unduly relying on prospective new orders or delinquent customer payments to materialize is, in our view, a reckless gamble with shareholders' capital. As of the date of this letter, Terran's stock price is down over 40% since September 18, 2023 following its latest dilutive capital raise,2 remains below $1 despite announcing ~$160 million in new orders in recent weeks, and is at risk of being delisted by the New York Stock Exchange. The Board can no longer ignore what we believe the market clearly knows: there are major issues that need to be addressed at the Company. Enclosed is our updated financial addendum, reflecting our revised financial projections described above. Our projections incorporate the recent subcontract award from Lockheed Martin for the Tranche 2 beta contract announced on October 24, 2023; and also account for the impact of certain potential new orders that we believe our CEO candidate can deliver; while discounting the Company's largest (currently insufficiently funded) backlogged order, which would provide incremental upside..."
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PYR | Hot Stocks07:31 EST PyroGenesis announces third-party validation of fumed silica - PyroGenesis Canada confirms, further to HPQ Silicon Inc's press release dated November 8, 2023 and the Company's news release dated October 3, 2023, that an independent structural and chemical analysis of fumed silica, produced in conjunction with HPQ Silica Polvere, a wholly owned subsidiary of HPQ, has been successfully performed. Separately, the Company announces that production of the fumed silica pilot plant is underway, which is intended to be in operation in Q2 of 2024. "This latest development underscores, once again, the advantages of the fumed silica reactor we have developed for HPQ Polvere and aligns perfectly with our commitment to environmental responsibility," said Mr. P. Peter Pascali, CEO and President of PyroGenesis. "PyroGenesis continues to contribute to sustainable solutions that reduce greenhouse gas emissions and environmental pollutants. We have now moved towards the long-awaited next phase: a pilot plant scheduled to start operations in the second quarter of 2024, as previously anticipated. The technology developed by PyroGenesis for HPQ Polvere offers significant economic advantages over conventional manufacturers. Its unique capability not only improves profitability, but also reduces the environmental footprint associated with fumed silica production, thus contributing to greenhouse gas emissions reduction and enabling the industry to move towards a more sustainable and environmentally friendly future - all key criteria that we feel will be of great interest to the parties who have already requested samples under NDA with HPQ. As a reminder, as part of the terms on the FSR projects, PyroGenesis benefits from a royalty payment representing 10% of the Client's eventual sales, with set minimums. This royalty stream, can, at any time, be converted by PyroGenesis into a 50% ownership in HPQ Remaining Equity Stake in HPQ Polvere."
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CENX | Hot Stocks07:29 EST Century Aluminum, USW ratify new five-year collective bargaining agreement - Century Aluminum Sebree, a wholly owned subsidiary of Century Aluminum Company, announced that a new, five-year collective bargaining agreement with the United Steelworkers Local 9443-00 was ratified on November 8th, 2023, for the Century Sebree aluminum smelter in Robards, KY. The agreement is effective immediately and runs through October 28, 2028, covering approximately 460 hourly workers at the Century Sebree plant. "We are pleased to reach a new agreement with the Steelworkers," said Jesse Gary, Century's President and Chief Executive Officer. "I want to personally thank the leadership of the USW and our employees who worked diligently to reach a fair deal. This collaboration between the two parties exemplifies our ongoing commitment to enhancing opportunities for our employees while simultaneously strengthening Sebree's position in the highly competitive aluminum market."
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IPSC | Hot Stocks07:29 EST Century Therapeutics, Fujifilm Cellular Dynamics enter license agreement - Century Therapeutics and FUJIFILM Cellular Dynamics announce a new worldwide license agreement and expansion of existing licenses for the development and commercialization of cell therapies derived from iPSCs for the treatment of autoimmune and inflammatory diseases, including type 1 diabetes, multiple sclerosis, lupus, and rheumatoid arthritis. There are up to 100 autoimmune conditions which collectively impact more than 24 million Americans,1 with studies indicating that both incidence and prevalence of autoimmune disease are rising for reasons that are poorly understood2. Treatment of autoimmune disease is currently limited to symptom management, and includes correcting resulting deficiencies in the body, along with reducing inflammation and the immune response. iPSCs have the capability to self-renew and differentiate into key cell types, providing regenerative and immune-modulating properties as a treatment modality. The new licenses expand on the companies' existing collaboration initiated in 2018 for iPSC-derived cancer immunotherapeutics. Under the terms of the agreements, FUJIFILM Cellular Dynamics will be eligible to receive certain development and regulatory milestone payments as well as royalties related to products developed in connection with the companies' agreements.
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CLMB GTLB | Hot Stocks07:28 EST Climb Global announces authorized GitLab distributor partnership - Climb Channel Solutions (CLMB) wholly owned subsidiary of Climb Global Solutions, announced it has signed an authorized GitLab distributor partnership agreement, enabling Climb to distribute GitLab (GTLB) to authorized resellers. Climb Channel Solutions' portfolio now includes GitLab's comprehensive AI-powered DevSecOps Platform. This distributorship aims to streamline software development processes, enhance team collaboration, and propel businesses toward greater efficiency and innovation. Through this partnership, Climb Channel Solutions will help customers simplify complex development tasks and bolster the integration of security, monitoring, and compliance directly into the development workflow. "We are excited to embark on this journey with GitLab," said Dale Foster, CEO of Climb Channel Solutions. "GitLab's DevSecOps platform is a testament to innovation, and this partnership aligns perfectly with our mission to equip our clients with the best emerging and disruptive technology. Together, we will empower organizations to navigate the ever-evolving landscape of software development and delivery."
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IPSC | Hot Stocks07:23 EST Century Therapeutics appoints Pfeiffenberger as CEO - Century announced the appointment of Brent Pfeiffenberger, Pharm.D., MBA, as Chief Executive Officer and member of the Board of Directors, effective December 4, 2023. He brings to Century over 20 years of broad-ranging global leadership experience across the healthcare industry, most recently serving as Chief Operating Officer at Neogene Therapeutics. Also effective December 4, 2023, Greg Russotti, Ph.D., who has served as Century's Interim Chief Executive Officer since April 2023, will assume the role of Chief Technology and Manufacturing Officer, an expanded role from his previous position as Chief Technology Officer.
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SHCR CNC | Hot Stocks07:20 EST Sharecare appoints Brent Layton as CEO - Sharecare announced, in conjunction with its third quarter 2023 financial results, board member Brent Layton will succeed Jeff Arnold as CEO. Formerly president and COO of Centene Corporation, Layton will assume the CEO role at Sharecare on January 2, 2024, and remain on the board. Arnold will transition to the role of executive chairman at that time, remaining active in the business day-to-day and working closely with Brent, focusing on driving the overall strategy of the company, product innovation, addressing market needs with next generation technology such as generative AI, and supporting strategic growth opportunities.
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OTLY | Hot Stocks07:19 EST Oatly Group sees 2023 revenue growth near lower end of 7%-12% - Consensus $785.28M. Based on the Company's assessment of the current operating environment and the actions it is taking, the Company is updating its guidance. The Company now expects: Revenue growth for full year 2023 on a constant currency basis near the low end of its previously-provided range of 7% to 12%, Foreign exchange to reduce net sales by approximately 100 basis point for the year, Fourth quarter gross margin in the mid-20%s, andCapital expenditures for full year 2023 below $75 million. The Company continues to believe this progress will enable it to deliver positive Adjusted EBITDA for the fiscal year 2024. The Company also expects for capital expenditures in 2024 to be below $75 million.
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TDG | Hot Stocks07:19 EST TransDigm declares special cash dividend of $35.00 per share - The record date for the special dividend is November 20, 2023, and the payment date for the dividend is November 27, 2023.
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APYX | Hot Stocks07:17 EST Apyx Medical in new five-year credit pact with Perceptive Credit - Apyx Medical announced that the Company and its subsidiaries have entered into a new, five-year credit agreement with Perceptive Credit Holdings IV, LP an affiliate of Perceptive Advisors. The Perceptive Credit Agreement provides for a facility of up to $45 million in senior secured term loans, with an initial loan of $37.5 million fully drawn at closing. "We are excited to announce this new debt facility with Perceptive Advisors," said Charlie Goodwin, President and Chief Executive Officer. "This new facility provides Apyx Medical with access to additional capital - and at more attractive terms overall - than our prior agreement, significantly strengthening our balance sheet and enhancing our financial flexibility." "We are excited to partner with Apyx Medical and believe that Renuvion will be a formidable product in the market as the company executes on its strategy," said Sam Chawla, Portfolio Manager of Perceptive Advisors. The Perceptive credit facility matures on November 8, 2028 and includes an initial loan of $37.5 M and a delayed draw loan of $7.5 million. The initial loan of $37.5 million was fully funded on November 8, 2023, with approximately $11.0 million of the proceeds used to satisfy all obligations under the Company's MidCap credit agreement, in addition to approximately $2.5 million of transaction fees and other expenses incurred in connection with the Perceptive Credit Agreement. The delayed draw loan can be drawn at the Company's option until December 31, 2024, upon satisfaction of certain conditions and covenants, including, but not limited to, the achievement of a minimum revenue target.
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OTLY | Hot Stocks07:17 EST Oatly Group discontinues construction of new production facility - Following certain events after the end of the reporting period, the Company decided to discontinue the construction of its new production facilities in the EMEA and Americas segments. In the fourth quarter of 2023, the Company expects to incur non-cash impairment charges in the range of $110 to $150 million. The Company also expects to incur restructuring and other exit costs of approximately $40 to $50 million relating to these production facilities. The Company currently estimates these restructuring and other exit costs to result in no more than $20 million of net cash outflows over the next two fiscal years, after taking into consideration anticipated proceeds from selling certain equipment. The decision is expected to increase operational focus, reduce complexity, and reduce the Company's capital expenditure requirements, all of which increases management's confidence in the Company's longer-term margin targets.
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IKNA | Hot Stocks07:14 EST iKena Oncology expects cash to meet operating requirements into 2026 - The Company believes that cash at hand will be sufficient to meet its operating requirements into 2026 through multiple data events for both IK-930 and IK-595
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IKNA | Hot Stocks07:12 EST iKena Oncology shares initial dose escalation data from IK-930 Phase 1 trial - Ikena Oncology announced financial results for the quarter ended September 30, 2023, and provided a corporate update. The Company also shared initial data from twenty-six patients treated in the ongoing dose escalation portion of the Phase I clinical trial of IK-930, a novel, oral, potent, and highly selective Hippo pathway inhibitor. IK-930 Dose Escalation Summary and Emerging Proof of Concept in EHE: IK-930 selectively binds TEAD1 and broadly represses oncogenic TEAD signaling as a potent Hippo-pathway inhibitor, a known suppressor pathway in cancers such as epithelioid hemangioendothelioma, mesothelioma, meningioma, and others. IK-930's differentiated paralog selectivity and robust repressor activity in complex with VGLL4 are key characteristics supporting anti-tumor effect in preclinical models. IK-930 is designed to circumvent renal toxicity, potentially resulting in an optimized therapeutic index. Twenty-six patients with a range of solid tumors were treated in the dose escalation portion of the study as of October 31, 2023. The most common tumor type enrolled was EHE. Differentiated Safety Profile: 26 patients have been treated with IK-930 in dose escalation as of October 31, 2023; IK-930 is in the final stages of dose optimization; the tolerability profile observed thus far supports the hypothesis that IK-930's selectivity could provide a wider therapeutic index for this new class of compounds; Proteinuria is an adverse effect of special interest as it may be an on-target effect of broad TEAD inhibition; Treatment-related proteinuria was recorded in 3 out of 26 dose escalation patients and was limited to grade 1-2; The observed proteinuria did not result in dose reduction or treatment interruption; no proteinuria events were considered dose-limiting and in all cases was fully reversible. Other safety observations include: Frequent adverse events to date have been low-grade nausea, fatigue, and diarrhea, and have not required any dose reduction; Two EHE patients with significant liver metastases experienced reversible liver enzyme elevation; One of these patients developed treatment-related grade 3 elevation, deemed dose limiting, and the patient remains on study after dose adjustment; The other patient experienced grade 3-4 elevation that was deemed possibly treatment related; Dose escalation is currently ongoing; 15 patients were treated with doses within the projected efficacious exposure range and pharmacokinetic data showed some variability; 7 out of 15 patients were determined to reach efficacious exposure; Target engagement in tumor, as determined by decreased TEAD gene signature, has been demonstrated in the efficacious dose range; To minimize IK-930 exposure variability, a next generation formulation is now being evaluated in the dose escalation; Recommended dosing for the next stage of the IK-930 program is expected to be determined in the near-term. Emerging Proof of Concept in EHE: Epithelioid hemangioendothelioma is a rare vascular sarcoma defined by gene fusions of either YAP or TAZ genes in the Hippo pathway with other transcriptional regulators. EHE is a slow-growing, invasive tumor with no approved treatment options and is challenging to measure due to diffuse infiltration of multiple organs. It can occur in multiple areas of the body, including the liver, lungs, bones, and blood vessels. People with EHE suffer symptoms that relentlessly affect their quality of life and are consistent with the site of the EHE growth, including liver failure, respiratory issues, and gastrointestinal symptoms, which are frequently accompanied by severe pain across the body. With no approved standard of care, there is substantial need for innovative treatments that can provide clinical benefit and symptom relief and slow or limit the progression of disease. Seven patients with EHE have been treated with IK-930 in the dose escalation portion of the trial; 7 out of 7 EHE patients reached stable disease as a best response so far as measured by RECIST; 3 out of the 7 patients experienced tumor shrinkage in multiple target and non-target lesions; 4 out of 7 highly symptomatic EHE patients enrolled across multiple dose levels reported symptomatic improvement and subjective improvement of quality of life such as improved energy, weight gain, and pain control; 3 out of the 7 patients continue on treatment with time on treatment ranging from 18 to 26 weeks and ongoing; As a result of these initial tolerability and antitumor activity findings, enrollment in the dose escalation phase continues to progress in targeted populations including mesothelioma and meningioma, in addition to EHE; Based on preclinical data indicating IK-930 synergy with EGFR inhibitors to combat therapeutic resistance, a combination cohort for IK-930 and osimertinib in patients with EGFR-mutant non-small cell lung cancer is planned to initiate in 2024.
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CMA | Hot Stocks07:08 EST Comerica names Brian Goldman Chief Risk Officer - Comerica announced that Brian Goldman has been named Senior Executive Vice President and Chief Risk Officer, effective Dec. 4, 2023. Goldman will succeed Jay Oberg, Senior Executive Vice President and Chief Risk Officer, who is expected to retire in December 2024, following more than 32 years with Comerica. Oberg will remain a senior executive vice president at Comerica until his retirement.
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CSIQ | Hot Stocks07:07 EST Canadian Solar announces 5 GW Solar Wafer facility in Thailand - Canadian Solar announced that it is establishing a 5 GW solar PV wafer production facility in Chonburi, Thailand. Canadian Solar is building a state-of-the-art solar photovoltaic N-type wafer manufacturing plant with an annual output of 5 GW, which is slated to begin production in March 2024. The solar wafers produced at this facility will initially be used at the existing Thailand TOPCon cell manufacturing plant in the same location. From 2025 onwards and once the previously announced 5 GW U.S. cell factory in Jeffersonville, Indiana, becomes fully operational, these wafers will be used as inputs to the Indiana cell factory. Highlighting the importance of this new facility, Thomas Koerner, Senior Vice President of Canadian Solar, said, "Establishing this solar wafer factory in Thailand is a key milestone that will enable us to better serve our U.S. customers with a more diversified and resilient supply chain, complementing our recently announced investments in the U.S. in solar cell and solar module manufacturing. Importantly, it will also allow us to responsibly meet the new requirements related to the latest and adjusted AD/CVD ruling by the U.S. Department of Commerce."
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DNA | Hot Stocks07:06 EST Ginkgo Bioworks, Foremost Farms announce partnership - Foremost Farms and Ginkgo Bioworks announced a partnership to use advances in biotechnology to enable domestic, sustainable biomanufacturing of materials from dairy co-products to benefit the environment, family farms and the dairy industry as a whole. Through this partnership, Foremost Farms will leverage Ginkgo's bioproduction services to develop and commercialize a new technology that could help upcycle billions of pounds of dairy co-products each year. Foremost Farms has selected Ginkgo as its partner of choice to develop a new upcycling technology because of Ginkgo's leading metabolic engineering and analytical capabilities, which will allow strain optimization for challenging environmental conditions while avoiding common toxicity issues.
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SLVM | Hot Stocks07:06 EST Sylvamo announces elimination of approximately 150 positions, 7% of workforce -
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CABA | Hot Stocks07:05 EST Cabaletta Bio expects cash to fund operations into 4Q25 - The Company expects that its cash, cash equivalents and short-term investments as of September 30, 2023, will enable it to fund its operating plan into the fourth quarter of 2025.
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ONCY | Hot Stocks07:05 EST Oncolytics reports 'positive' interim results from Phase 1/2 GOBLET study - Oncolytics Biotech announced the presentation of positive, interim results from the Phase 1/2 GOBLET study evaluating the combination of pelareorep and atezolizumab in second-line patients with unresectable squamous cell carcinoma of the anal canal by Dirk Arnold, M.D., Ph.D., Director of Asklepios Tumorzentrum Hamburg, and primary investigator of the GOBLET trial, in an oral presentation at the 2nd International Multidisciplinary Anal Cancer Conference 2023, taking place in Rome, Italy. "The positive interim data from the anal cancer cohort of the Phase 2 GOBLET study presented today at the IMACC meeting is very exciting for our company and the potential of pelareorep in gastrointestinal cancers. These results met the pre-specified success criteria for the cohort and exceeded the results from historical controls in similar patient populations1-7," said Dr. Matt Coffey, President and CEO of Oncolytics. "I am especially pleased to note that this is the third indication from the GOBLET study in a row to meet its success criteria and the fourth indication combining pelareorep and atezolizumab to present positive data, further validating the potential clinical benefit of this combination and opening the door to another potential registrational pathway for pelareorep. Furthermore, we've seen another complete response in an indication where checkpoint inhibitor therapy alone has had limited success historically, which bodes well for the potential of pelareorep to work synergistically with multiple immunotherapies in multiple tumor types." Dr. Arnold commented, "Current treatment options for SCCA are poor, with no defined standard of care for patients who have progressed after first-line therapy. Oncolytics is developing a solid compendium of clinical data showing consistent positive results from the combination of pelareorep and the checkpoint inhibitor atezolizumab. We are particularly pleased by the promising data presented today because they show that pelareorep may have the potential to offer the hope of a new, effective treatment option for patients with advanced SCCA."
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CCOI | Hot Stocks07:04 EST Cogent increases quarterly dividend 1.1% to 95.5c per share - Cogent's board approved a regular quarterly dividend of 95.5c per share payable on December 8 to shareholders of record on November 24. This fourth quarter regular dividend represents an increase of 1c per share, or 1.1%, from the third quarter regular dividend of 94.5 per share and an annual increase of 4.4% from the fourth quarter 2022 dividend of 91.5c per share.
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SYBX | Hot Stocks07:02 EST Synlogic expects cash to fund operations into 1H25 - Based upon its current operating plan and inclusive of the net cash proceeds from the October financing and milestone payment from Roche, Synlogic expects to have sufficient cash to be able to fund operations further into the first half of 2025.
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KO | Hot Stocks06:56 EST Coca-Cola 'disagrees with the actions of the IRS' - The company stated, "On Nov. 8, the U.S. Tax Court issued a supplemental opinion in The Coca-Cola Company & Subsidiaries v. Commissioner of Internal Revenue. The Coca-Cola Company disagrees with the actions of the IRS and the latest decision by the U.S. Tax Court. While we disagree with the court's interpretation of the facts and law in this case, we are pleased to move closer to a final resolution of the Tax Court case so that we can pursue an appeal, where we can assert our claims and vigorously defend the company's position. This includes our belief that it is unconstitutional to face retroactive tax liability based on the IRS' use of a calculation methodology that was different from what was long agreed upon and approved in audits for more than a decade. We do not expect the results in this recent supplemental decision to change the methodologies we have used to calculate the tax reserve we have taken or the potential aggregate incremental tax and interest liability we have disclosed related to the dispute with the IRS or our effective tax rate."
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EVA | Hot Stocks06:54 EST Enviva appoints CFO Glenn Nunziata as interim CEO - Enviva has appointed Glenn Nunziata as interim CEO in addition to his role as CFO, succeeding Thomas Meth, who has served as CEO since November 2022. Meth will remain President and will focus his time on renegotiating existing customer contracts with the intent of improving Enviva's profitability and returning the business to one that generates the majority of its cash flow from predictable, profitable take-or-pay contracts. Mark Coscio, Enviva's Chief Development Officer, will assume the role of COO, and will continue to lead the company's growth projects while taking on responsibility for plant and port operations. These leadership changes are effective as of November 9.
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DDS | Hot Stocks06:54 EST Dillard's reports Q3 consolidated gross margin 43.5% vs. 44.6% last year - Retail gross margin (which excludes CDI) for the 13 weeks ended October 28, 2023 was 45.3% of sales compared to 45.7% of sales for the prior year third quarter. Gross margin increased moderately in home and furniture and ladies' apparel category. Gross margin was flat in cosmetics and down slightly in men's apparel and accessories, juniors' and children's apparel and shoes. Gross margin was down moderately in ladies' accessories and lingerie. Inventory decreased 1% for the 13 weeks ended October 28, 2023 compared to the 13 weeks ended October 29, 2022.
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ONCY | Hot Stocks06:42 EST Oncolytics provides update on pancreatic cancer program for pelareorep - Oncolytics provided an update on the planned program for pelareorep in pancreatic ductal adenocarcinoma, or PDAC. Oncolytics' collaborator, The Pancreatic Cancer Action Network, or PanCAN, a pancreatic cancer patient advocacy organization, advised the company that it is implementing a strategic re-evaluation of the Precision Promise program and will not be adding any new investigational therapies to the platform until the re-evaluation is complete. Oncolytics and PanCAN had previously planned to initiate a Phase 3 trial using the Precision PromiseSM platform in H1 2024. Oncolytics now plans to conduct an adaptive Phase 3 program of pelareorep, gemcitabine, nab-paclitaxel, and atezolizumab, similar to the Precision Promise study and manage it directly within our Clinical Group and a contract research organization, or CRO, with the goal of enrolling the first patient in mid-2024. Additionally, Oncolytics and PanCAN confirmed that PanCAN will continue with its plans to grant US$5 million to Oncolytics as part of the Therapeutic Accelerator Award for the new Phase 2 GOBLET study arm evaluating the combination of pelareorep and modified Folfirinox in pancreatic cancer patients.
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WWW | Hot Stocks06:40 EST Wolverine World Wide accelerates, expandeds transformation effort - "We are moving with speed and urgency to transform the company, which will enable us to capitalize on our biggest growth opportunities," said Chris Hufnagel, President and CEO. "We are taking decisive steps to stabilize the business by divesting non-core assets, paying down debt, reducing inventory, and right-sizing our cost structure. At the same time, we are redesigning the organization to become great global brand builders." To help stabilize the business, enhance financial performance, and provide future investment capacity for Wolverine Worldwide's strategic growth brands, the Company has accelerated and expanded its transformation effort and the work of the Profit Improvement Office. To date, the Company has identified initiatives that are expected to deliver $215 million in annualized savings, including a global workforce restructuring. Key changes made by the Company in connection with redesigning the organization include: "The Collective" - a new strategic center of excellence that includes a reimagined innovation, insights, and trends team; an internal creative and public relations team; and an in-house creative production studio. Global Licensing - a new global licensing function to unlock the portfolio's full commercial opportunity around the world. This team will oversee and manage all the Company's licensed businesses, including Hush Puppies and Stride Rite, along with apparel and accessories programs. Integrated Planning - a new global planning function designed to meaningfully improve integrated demand, inventory, and supply chain management, while enhancing the Company's ability to respond to shifts in consumer and market dynamics. Product Lifecycle Management & Digital Product Design - a new set of advanced digital product management, design, and development tools which will further enhance the Company's product capabilities and efficiencies. North American Commercial Structure - a consolidated North American commercial structure, aligning the Company's Canadian operations with those in the United States to drive efficiency and alignment.
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NXE | Hot Stocks06:37 EST NexGen Energy receives Ministerial approval for Rook I Project - NexGen Energy announced that it has received Ministerial approval under The Environmental Assessment Act of Saskatchewan to proceed with the development of its 100%-owned Rook I Project. NexGen is the first company in more than 20 years to receive full Provincial Environmental Assessment approval for a uranium project in Saskatchewan.
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RHHBY | Hot Stocks06:31 EST Roche's Elecsys NfL test granted FDA Breakthrough Device Designation - Roche announced that its Elecsys Neurofilament Light Chain, or NfL, test for Multiple Sclerosis received Breakthrough Device Designation from the U.S. Food and Drug Administration. The Elecsys NfL test is intended to be used as an aid in detection of disease activity in adults with Relapsing-Remitting Multiple Sclerosis or Secondary Progressive Multiple Sclerosis, the company noted.
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BDX | Hot Stocks06:28 EST Becton Dickinson increases quarterly dividend 4.4% to 95c per share - The board of directors of Becton Dickinson has declared a quarterly dividend of 95c per common share, an increase of 4.4% from the previous quarter. The dividend will be payable on December 29 to holders of record on December 8. The indicated annual dividend rate for FY24 is $3.80 per share.
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PSN | Hot Stocks06:26 EST Parsons wins $91M cyber capabilities contract - Parsons announced that the company has been selected by the United States Cyber Command to provide services for the J9 PEO Cyber and Joint Cyber Warfighting Architecture Integration Office. The $91M cost plus fixed-fee prime contract includes a 12-month base year and four 12-month option years including the Federal Acquisition Regulation 52.217-8, Option to Extend Services, and is new work for the company.
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AZN | Hot Stocks06:25 EST AstraZeneca announces results from EMERALD-1 Phase III trial of Imfinzi - Positive high-level results from the EMERALD-1 Phase III trial showed AstraZeneca's Imfinzi in combination with transarterial chemoembolisation, TACE, and bevacizumab demonstrated a statistically significant and clinically meaningful improvement in the primary endpoint of progression-free survival, PFS, versus TACE alone in patients with hepatocellular carcinoma, HCC, eligible for embolisation. The trial continues to follow the secondary endpoint of overall survival, OS. Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said: "These positive results for Imfinzi-based treatment in EMERALD-1 may bring the potential of immunotherapy to patients with earlier stages of liver cancer. We look forward to discussing these data with regulatory authorities and seeing the survival data mature over time, which will be important as we aim to bring this novel treatment option to patients." The safety profiles for Imfinzi and TACE plus bevacizumab were consistent with the known profile of each medicine, and there were no new safety findings. The data will be presented at a forthcoming medical meeting and shared with regulatory authorities.
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YETI | Hot Stocks06:23 EST Yeti lowers FY23 CapEx view to approximately $55M from $60M
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TDG | Hot Stocks06:19 EST TransDigm to acquire Electron Device Business of CPI for $1.39B in cash - TransDigm announced it has entered into a definitive agreement to acquire the Electron Device Business of Communications & Power Industries, or CPI, a portfolio company of TJC, L.P., for approximately $1.39B in cash. Approximately 70% of its revenue is derived from the aftermarket and nearly all of its revenue is generated from proprietary products. CPI's Electron Device Business generated approximately $300M in revenue for its fiscal year ended September 30. The company has manufacturing locations in Palo Alto, California; Beverly, Massachusetts; Middlesex, UK; and Woodland, California. The company employs approximately 900 people. The acquisition, which is expected to close by the end of TransDigm's third fiscal quarter of 2024, is subject to regulatory approvals in the United States and United Kingdom and customary closing conditions. The acquisition is expected to be financed through existing cash on hand as well as new long-term debt.
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AKAM | Hot Stocks06:15 EST Akamai, Deloitte announce strategic pact to deliver Zero Trust microsegmentation - Akamai and Deloitte announced a strategic alliance to provide Zero Trust microsegmentation and incident response services to Deloitte customers worldwide. This alliance will combine Deloitte's expertise in cybersecurity, network forensics, and security with the Akamai Guardicore Segmentation solution. This combination has already provided organizations in Latin America and other regions with protection from ransomware attacks that otherwise may have been disastrous.
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KBR | Hot Stocks06:14 EST KBR awarded FFED contract by Fidelis New Energy for Project Fyrkat - KBR announced it has been awarded a Front-End Engineering Design, or FFED, contract by Fidelis New Energy for Project Fyrkat, a liquid carbon dioxide, or LCO2, receiving terminal at the Port of Aalborg, Denmark. Under the terms of the contract, KBR will provide engineering to support the LCO2 handling and storage facility, as Fidelis New Energy aims to help global decarbonization. Project Fyrkat is one of the first onshore CO2 sequestration facilities, and is part of a larger initiative, Project Norne, which expects to store more than 20M tons of CO2 per year by 2030. This equates to around half of all Denmark's yearly emissions. Norne will provide emitting companies with access to an affordable and safe pathway to process their CO2 emissions.
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SOL | Hot Stocks06:10 EST Emeren sells 410 MW battery energy storage portfolio in Italy - Emeren announced the sale of a portfolio comprising five Battery Energy Storage Systems, or BESS, in Italy to Matrix Renewables. This transaction marks a significant milestone within the framework of the proprietary Development Service Agreement, or DSA, jointly executed in June, delineating the ambitious development of an extensive 1.5 GW BESS portfolio. This achievement represents the second collaborative deal between Emeren and Matrix, signifying substantial growth in the partnership and reinforcing Emeren's position as an entity in the renewable energy sector.
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EYE WMT | Hot Stocks06:07 EST National Vision announces incremental expense reduction program - The company has announced that beginning in 2024, it will be implementing an incremental expense reduction program targeting annualized savings in the range of $10M-$12M. The program will focus on streamlining corporate overhead including optimizing non-customer facing labor costs, as well as reducing travel expenses and third-party spend. This program, together with the expected benefits from non-headline pricing actions the company is planning to take, is expected to more than offset the profitability gap created by the termination of the Walmart (WMT) partnership.
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AZN | Hot Stocks05:54 EST AstraZeneca announces license agreement with Eccogene for ECC5004 - In November, AstraZeneca said that it and Eccogene entered into an exclusive license agreement for ECC5004, an investigational oral once-daily glucagon-like peptide 1 receptor agonist for the treatment of obesity, type-2 diabetes and other cardiometabolic conditions. Preliminary results from the Phase I trial have shown a differentiating clinical profile for ECC5004, with good tolerability and encouraging glucose and body weight reduction across the dose levels tested compared to placebo, AstraZeneca said. Under the terms of the agreement, Eccogene will receive an initial upfront payment of $185M and up to an additional $1.825B in future clinical, regulatory, and commercial milestones and tiered royalties. AstraZeneca is granted exclusive global rights for the development and commercialization of ECC5004 for any indication in all territories except China, where Eccogene has the right to co-develop and commercialize alongside AstraZeneca.
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ASX | Hot Stocks05:27 EST ASE Technology reports October revenue $1.75B, down 13.9% - Reports October ATM revenue $881M, down 16%.
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BR | Hot Stocks05:23 EST Broadridge brings shareholder disclosure solution to UK, Australia and Hong Kong - Broadridge announced the further expansion of its Shareholder Disclosure solution to meet the specific regulatory requirements in the UK, Australia and Hong Kong markets. The solution is operating live in all three markets.
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J | Hot Stocks05:18 EST Jacobs, PA Consulting selected by Copenhagen Metro for advisory services - Jacobs and PA Consulting have been selected by The Copenhagen Metro to be part of its Operations and Maintenance Adviser Framework. The Copenhagen Metro provides fast, sustainable, carbon-efficient transport solutions to more than 300,000 passengers on weekdays. The Jacobs and PA team was selected to provide comprehensive research and advice on the operation and maintenance of the metro. Wide-ranging strategic and technical advice will span project and design management, railway installations and safety, rolling stock, and signaling systems, as well as operation and maintenance. The Copenhagen Metro expects the framework to run over an eight-year period.
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ACHR | Hot Stocks05:07 EST Archer, InterGlobe enter MOU to launch all-electric air taxi service in India - InterGlobe Enterprises and Archer Aviation announced that they have entered into a memorandum of understanding, or MOU, with the goal of partnering to launch and operate an all-electric air taxi service in India, subject to appropriate regulatory approvals and clearances. The purpose of the MOU is to form a proposed partnership through which the parties aim to provide a transportation solution for the country, improving urban mobility with safe, sustainable, and low-noise electric air taxi service that is cost-competitive with ground transportation. The parties intend to work with select in-country business partners to operate Archer's aircraft, finance and build vertiport infrastructure, and train pilots and other personnel needed for these operations. The partnership also plans to finance the purchase of up to 200 of Archer's Midnight aircraft for the India operations. Archer's Midnight aircraft is a piloted, four-passenger electric vertical takeoff and landing aircraft designed to perform rapid back-to-back flights with minimal charge time between flights. The goal is for a passenger on an InterGlobe-Archer flight to be able to fly the 27-km Delhi trip from Connaught Place to Gurugram, typically taking 60 to 90 minutes by car, in approximately 7 minutes. In addition to urban air taxi services, the parties plan to pursue a variety of other use cases for the electric aircraft in India, including cargo, logistics, medical and emergency services, as well as private company and charter services.
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