Stockwinners Market Radar for January 21, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:01 EST Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Arkhouse Management has issued a statement from Arkhouse Managing Partners Gavriel Kahane and Jonathon Blackwell, saying that, "In recent weeks, Arkhouse and our partner, Brigade Capital Management, LP, have engaged privately with Macy's regarding a potential acquisition of the company. Our investor group can confirm that we collectively have a significant stake in Macy's through Arkhouse-managed funds and made a proposal to acquire the company for $21.00 per share in cash on Dec. 1, 2023. Macy's (M) has since responded, confirming that it received an unsolicited, non-binding proposal from Arkhouse Management and Brigade Capital Management, and that the Macy's Board of Directors has determined that the non-binding proposal does not constitute a basis to enter into a non-disclosure agreement or provide any due diligence information to Arkhouse and Brigade. 2. SolarEdge Technologies (SEDG) announced a restructuring plan that includes workforce reduction designed to reduce operating expenses and align its cost structure to current market dynamics. The workforce reduction impacts approximately 16% of the SolarEdge global workforce, or approximately 900 employees, of which approximately 500 are from the company's various manufacturing sites. 3. BP (BP) is getting back to doing what it does best-and that's good news for its beaten-down stock, with the company refocusing on its oil-and-gas business, Andrew Bary writes in this week's edition of Barron's. The market hasn't noticed quite yet. The company's U.S-listed shares trade around $34 after hitting a new 52-week low this past week. They fetch just seven times projected 2024 earnings of $5 a share, cheap even for big European energy companies, the author notes. There are a lot of things that could go right at BP, and not a lot is factored into a depressed stock with a pretty secure 5% dividend yield. It's a low-risk way to play the future of oil-and perhaps a lot more, the publication adds. 4. Paramount's (PARA) "Mean Girls" won the quiet weekend at the domestic box office with another $11.7M for a domestic cume of $50M, as the industry faces a slowdown in product amid production delays caused by last year's labor strikes. The original film sports an 84% Rotten Tomatoes critic's score vs. 70% for the new movie. The updated version also has a B+ CinemaScore, while the 2004 film has an A CinemaScore. 5. Verizon Communications (VZ), Intel (INTC), EOG Resources (EOG), and Carnival (CCL) saw positive mentions in this week's edition of Barron's.

18:27 EST Arkhouse makes proposal to acquire Macy's for $21 per share - Arkhouse Management has issued a statement from Arkhouse Managing Partners Gavriel Kahane and Jonathon Blackwell, saying that, "In recent weeks, Arkhouse and our partner, Brigade Capital Management, LP, have engaged privately with Macy's regarding a potential acquisition of the company. Our investor group can confirm that we collectively have a significant stake in Macy's through Arkhouse-managed funds and made a proposal to acquire the company for $21.00 per share in cash on Dec. 1, 2023. The proposed purchase price represents a 32.4% premium to the unaffected stock price and a 56.8% premium to the company's 30-day volume weighted adjusted stock price as of Nov. 30, 2023. We encourage the company to respond to us this week, as it indicated, without further delaying substantive discussions. We see the potential for a meaningful increase to our original proposal if we are granted access to the necessary due diligence and, to that end, have offered to sign a mutual non-disclosure agreement to conduct this due diligence. We have conviction in the long-term success of Macy's but believe that its potential will only be realized as a private company. We believe Macy's investors support a privatization given the stock's largest single-day gain in more than two years following media reports of our interest in acquiring the company. In the absence of further updates, Macy's shares have fallen - including after the company's announcement last Thursday of a broad-based restructuring. Jefferies Group LLC has provided a highly confident letter supporting our ability to raise the necessary funds for the transaction. Following conversations between our respective advisors, Macy's advisors confirmed that they had no further questions regarding our financing. We urge Macy's to engage expeditiously in good faith discussions with the goal of achieving a mutually agreeable transaction that can provide superior value to stockholders. We are highly motivated to consummate an acquisition of Macy's and are prepared to pursue all necessary steps, including direct engagement with stockholders, to achieve this goal."

16:04 EST SolarEdge set to cut 16% of global workforce - SolarEdge Technologies announced a restructuring plan that includes workforce reduction designed to reduce operating expenses and align its cost structure to current market dynamics. The workforce reduction impacts approximately 16% of the SolarEdge global workforce, or approximately 900 employees, of which approximately 500 are from the company's various manufacturing sites. The reduction follows measures which the company has already taken to align with current market conditions, including discontinuation of manufacturing in Mexico, reduction of manufacturing capacity in China, and termination of the company's light commercial vehicle e-mobility activity. Further detail will be provided in the company's end-of-year earnings release which is expected to be released by the end of February 2024.

06:19 EST Bristol Myers announces results from Phase 3 CheckMate -8HW trial - Bristol Myers Squibb announced results from the Phase 3 CheckMate -8HW trial evaluating Opdivo plus Yervoy compared to investigator's choice of chemotherapy as a first-line treatment for patients with microsatellite instability-high or mismatch repair deficient metastatic colorectal cancer. The dual immunotherapy combination of Opdivo and Yervoy demonstrated a statistically significant and clinically meaningful improvement in the primary endpoint of progression-free survival as assessed by Blinded Independent Central Review, with a reduction in the risk of disease progression or death by 79% compared to chemotherapy in patients with centrally confirmed MSI-H/dMMR mCRC. Improvement in PFS was noted beginning at approximately three months and was sustained throughout. Median PFS was not yet reached in the Opdivo plus Yervoy arm vs. 5.9 months in the chemotherapy arm. Consistent PFS benefit was observed across all pre-specified subgroups, including patients with KRAS or NRAS mutations, and those with baseline liver, lung, or peritoneal metastases. The safety profile for the combination of Opdivo plus Yervoy remained consistent with previously reported data and was manageable with established protocols, with no new safety signals identified. Grade 3/4 treatment-related adverse events occurred in 23% of patients in the Opdivo plus Yervoy arm and 48% of patients in the chemotherapy arm. Any grade TRAE-related discontinuation was 17% in the Opdivo plus Yervoy arm and 32% in the chemotherapy arm. Opdivo plus Yervoy is the first dual immunotherapy regimen to demonstrate significant efficacy benefit compared to chemotherapy as first line treatment in MSI-H/dMMR mCRC. CheckMate -8HW is ongoing to assess the second dual primary endpoint of PFS in patients receiving Opdivo plus Yervoy compared to Opdivo alone across all lines of therapy, as well as secondary endpoints, including overall survival.