Stockwinners Market Radar for February 17, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
ACB | Hot Stocks19:50 EST Aurora Cannabis trading halted, news pending
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VCNX | Hot Stocks19:50 EST Vaccinex trading halted, news pending
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JZ | Hot Stocks19:50 EST Jianzhi Education Tclgy Grp Co Ltd - ADR trading halted, news pending
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FROG | Hot Stocks18:38 EST JFrog director sells $7.1M in common stock - In a regulatory filing, JFrog disclosed that its director Frederic Simon sold 150K shares of common stock on February 15th in a total transaction size of $7.1M.
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IOVA | Hot Stocks18:34 EST Iovance Biotherapeutics jumps 19% following conference call regarding Amtagvi - Shares of Iovance Biotherapeutics are up 19% or $1.76 at $10.91 afterhours following the company's conference call about Amtagvi's accelerated approval from the FDA and commentary that the Amtagvi black box label "looks pretty good".
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JBLU | Hot Stocks18:26 EST JetBlue agrees to appoint Icahn Designees as observers to the board - In a regulatory filing, JetBlue states: "On February 16, 2024, JetBlue Airways Corporation entered into a Director Appointment and Nomination Agreement with Carl C. Icahn and the persons and entities listed therein, collectively, the "Icahn Group". Pursuant to the Agreement, the Company's board of directors has agreed to appoint Jesse Lynn and Steven Miller - together, the "Icahn Designees" - as observers to the Board, effective as of February 26, 2024. Subject to the rights of the Company to exclude access to certain materials and meetings under the Agreement, the Icahn Designees shall be permitted to attend and reasonably participate, but not vote, at all meetings of the Board. In addition, the Board has agreed to, promptly after the Company's 2024 Annual Meeting of Stockholders, (i) increase the size of the Board from 11 to 13 directors, resulting in a total of two vacancies; and (ii) appoint the Icahn Designees to serve as directors of the Company to fill such vacancies, each with a term expiring at the Company's 2025 Annual Meeting of Stockholders, or until their earlier death, resignation, disqualification or removal. In connection with the appointment, the Icahn Group has agreed not to conduct a proxy contest or engage in any solicitation of proxies regarding any matter, including the election of directors, with respect to the 2024 Annual Meeting."
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AZN | Hot Stocks18:22 EST AstraZeneca's Tagrisso approved by FDA in NSCLC - The company stated: "AstraZeneca's Tagrisso, or osimertinib, with the addition of chemotherapy has been approved in the US for the treatment of adult patients with locally advanced or metastatic epidermal growth factor receptor-mutated non-small cell lung cancer, or NSCLC. The approval following a Priority Review by the Food and Drug Administration (FDA) was based on the results from the FLAURA2 Phase III trial published in The New England Journal of Medicine. Tagrisso with the addition of chemotherapy reduced the risk of disease progression or death by 38% compared to Tagrisso monotherapy which is the 1st-line global standard of care. Median progression-free survival, or PFS, by investigator assessment was 25.5 months for patients treated with Tagrisso plus chemotherapy, an 8.8-month improvement versus Tagrisso monotherapy. PFS results from blinded independent central review were consistent with the results by investigator assessment, showing 29.4 months median PFS with Tagrisso plus chemotherapy, a 9.5-month improvement over Tagrisso monotherapy. Each year in the US, there are over 200,000 people diagnosed with lung cancer, and 80-85% of these patients are diagnosed with NSCLC, the most common form of lung cancer.1-3 Approximately 70% of people are diagnosed with advanced NSCLC.Additionally, about 15% of NSCLC patients in the US have an EGFR mutation."Reference Link
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TCN | Hot Stocks18:12 EST Tricon Residential receives interim order for proposed take private deal - Tricon Residential announced that on February 15, 2024, the Ontario Superior Court of Justice granted an interim order in connection with the previously announced statutory plan of arrangement under the Business Corporations Act pursuant to which Blackstone Real Estate Partners X, together with Blackstone Real Estate Income Trust, Inc. will acquire all outstanding common shares of Tricon for $11.25 (approximately C$15.18 based on the Bank of Canada USD/CAD exchange rate at February 15, 2024) per Common Share in cash. The Interim Order authorizes the calling and holding of a special meeting on March 28, 2024 of the holders of Common Shares, the granting of dissent rights to registered Company Shareholders, and other matters relating to the conduct of the Special Meeting. The Consideration of $11.25 per Common Share in cash represents a premium of approximately 30% to the closing price of the Common Shares on the New York Stock Exchange as of January 18, 2024, the last trading day prior to the public announcement of the Arrangement, and a premium of approximately 42% to the volume weighted average share price on the NYSE over the 90-day period ended January 18, 2024. BREIT will maintain its approximately 11% ownership stake in the Company post-closing.
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LDOS | Hot Stocks17:21 EST Leidos awarded $249M Army contract - Leidos was awarded a $249M firm-fixed-price contract for the Automated Installation Entry system. Bids were solicited via the internet with three received. Work locations and funding will be determined with each order, with an estimated completion date of February 8, 2030. Army Contracting Command is the contracting activity.
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CP | Hot Stocks17:03 EST Canadian Pacific Kansas City provides update on TCRC labor negotiations - Canadian Pacific Kansas City filed a notice of dispute with the Federal Mediation and Conciliation Service requesting the appointment of a Federal Conciliation Officer to assist CPKC and both the Teamsters Canada Rail Conference, or TCRC, Train & Engine division and the TCRC - Rail Canada Traffic Controllers, or RCTC, division in reaching negotiated collective agreements. The TCRC - T&E represents CPKC's roughly 3,200 locomotive engineers, conductors and train and yard workers, and the TCRC - RCTC represents approximately 80 rail traffic controllers, all in Canada. This is a process available under the Canada Labour Code to help employers and unions achieve negotiated collective agreements. Since September 2023, CPKC has been negotiating in good faith with the TCRC - T&E and TCRC - RCTC. CPKC has offered both a fair and balanced agreement with wage and benefit increases and more schedule predictability and quality of life improvements for its T&E employees. The latest collective bargaining negotiation session took place the week of January 29. Both CPKC and Union leadership remain far apart on the issues. CPKC has an excellent track record of successful collective bargaining with its unions. However, Federal Conciliation has been required in nine of the 10 collective bargaining rounds of negotiations between the TCRC - T&E and CPKC since 1993. CPKC is and will remain focused on, and committed to, arriving at a negotiated outcome that is in the best interests of its employees and their families, its customers, its shareholders and the overall Canadian economy. Everyone benefits when the railway can continue providing essential rail service, delivering goods across Canada and supporting the import and export of goods internationally. While the two TCRC collective agreements expired on December 31, 2023, they remain in effect under Canadian labour law until the parties reach new agreements.
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HOG | Hot Stocks17:03 EST Harley-Davidson raises quarterly dividend to 17.25c per share - The Harley-Davidson board has approved a cash dividend of 17.25c per share for Q1 of 2024. The dividend is payable March 20 to the shareholders of record of the company's common stock as of March 4. The company's previous dividend was 16.5c per share Q4 of 2023.
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IOVA | Hot Stocks16:31 EST Iovance says Amtagvi black box label 'looks pretty good'
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KBH | Hot Stocks16:30 EST KB Home director Gabriel sells 12,500 common shares - In a regulatory filing, KB Home director Stuart Gabriel disclosed the sale of 12,500 common shares of the company on February 14 at a price of $61 per share.
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JPM | Hot Stocks16:29 EST JPMorgan to pay roughly $350M to resolve trading venues investigations - In a regulatory filing, JPMorgan said it has been responding to government inquiries regarding its processes to inventory trading venues and confirm the completeness of certain data fed to trade surveillance platforms. The Firm self-identified that certain trading and order data through the CIB was not feeding into its trade surveillance platforms. The Firm has completed enhancements to the CIB's venue inventory and data completeness controls, and other remediation is underway. The Firm has also performed a review of the data not originally surveilled, which is nearly complete, and has not identified any employee misconduct, harm to clients or the market. While the identified gaps represent a fraction of the overall activity across the CIB, the data gap on one venue, which largely consisted of sponsored client access activity, was significant. The Firm is dedicated to maintaining rigorous controls and continuously enhancing the reliability of its trade infrastructure. The Firm expects to enter into resolutions with two U.S. regulators that will require the Firm to, among other things, complete its remediation, engage an independent consultant, and pay aggregate civil penalties of approximately $350 million. The Firm is also in advanced negotiations with a third U.S. regulator, but there is no assurance that such discussions will result in a resolution. The Firm does not expect any disruption of service to clients as a result of these resolutions. In addition to the various legal proceedings discussed above, JPMorgan Chase and its subsidiaries are named as defendants or are otherwise involved in a substantial number of other legal proceedings. The Firm believes it has meritorious defenses to the claims asserted against it in its currently outstanding legal proceedings and it intends to defend itself vigorously. Additional legal proceedings may be initiated from time to time in the future.
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IOVA | Hot Stocks16:24 EST Iovance 'extremely pleased' with results of Amtagvi trial - Says "extremely pleased" with the results of the Amtagvi trial. Says "truly excited" about U.S. commercial launch. Says expects "strong" market access to Amtagvi. Comments taken from a conference call about Amtagvi's accelerated approval from the FDA.
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KALV | Hot Stocks16:23 EST KalVista CFO Palleiko sells 40,855 common shares - In a regulatory filing, KalVista Pharmaceuticals CFO and CBO Benjamin Palleiko disclosed the sale of 40,855 common shares of the company on February 14 at a price of $15.0093 per share.
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FSR | Hot Stocks15:49 EST Fisker announces signing of four dealer partners in U.S. - Fisker announced that it has signed a total of four dealer partners in the U.S. as it "undertakes a strategic shift in its business model." Dealers joining the Dealer Partnership program are the Mills Automotive Group, Ourisman Fisker, Classic Fisker, and Long Island Fisker. "I'm excited by the rapid progress of the Dealer Partnership model, which we announced just over a month ago. The dealer partners we have signed up so far share a commitment to the future of electric vehicles and to their communities, many of which they have served for multiple generations. I believe our customers will find that each of these dealer partners plan to provide top-level service and ongoing relationship building for owners of the class-leading and award-winning Fisker Ocean SUV," Chairman and CEO Henrik Fisker said. "Fisker has received interest from over 250 dealers in North America and the rest of the world since announcing its strategic shift," the company added.
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IOVA | Hot Stocks15:40 EST Iovance Biotherapeutics trading resumes
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FBLG | Hot Stocks15:24 EST Fibrobiologics Inc trading resumes
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IOVA | Hot Stocks15:22 EST Iovance's Amtagvi receives accelerated approval from FDA - Iovance Biotherapeutics announced that the U.S. Food and Drug Administration has approved Amtagvi, or lifileucel, suspension for intravenous infusion. Amtagvi is a tumor-derived autologous T cell immunotherapy indicated for the treatment of adult patients with unresectable or metastatic melanoma previously treated with a PD-1 blocking antibody, and if BRAF V600 mutation positive, a BRAF inhibitor with or without a MEK inhibitor. This indication is approved under an accelerated approval based on overall response rate, or ORR, and duration of response. Iovance is also conducting TILVANCE-301, a Phase 3 trial to confirm clinical benefit. "Amtagvi is the first and the only one-time, individualized T cell therapy to receive FDA approval for a solid tumor cancer," the company stated.
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FBLG | Hot Stocks15:19 EST Fibrobiologics Inc trading halted, volatility trading pause
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SIDU | Hot Stocks15:10 EST Sidus Space, NASA mark milestone for autonomous systems software mission - NASA's Stennis Space Center and Sidus Space marked another milestone February 15 for the Center's first-ever in-flight autonomous systems software mission as a payload rider on the Sidus Space LizzieSat small satellite. "Each step brings us a step closer to deployment of ASTRA (Autonomous Satellite Technology for Resilient Applications) in space," said Chris Carmichael, NASA Stennis Autonomous Systems Laboratory Branch Chief. "We are excited with the progress as we continue to collaborate with Sidus Space on this truly historic mission for the Center." The ASTRA mission involves an autonomous systems hardware/software payload developed at NASA Stennis as a technology demonstrator in space aboard the Sidus Space premier satellite, LizzieSat TM -1. Sidus Space is responsible for the launch, deployment, and mission operation of the LS-1 satellite. At some stage during the overall satellite mission that could last as long as two years, the NASA Stennis team will send commands to the Sidus Space flight computer to autonomously conduct targeted mission objectives with the ASTRA system. In preparation for the scheduled launch of the LS-1 mission this spring, officials at the Sidus Space integration facility in Cape Canaveral, Florida, reported it has completed integration testing of the ASTRA flight unit with the LS-1 satellite. Reference Link
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IOVA | Hot Stocks14:56 EST Iovance Biotherapeutics trading halted, news pending
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MRDB | Hot Stocks14:48 EST K1 confirms non-binding proposal made to board of MariaDB plc - K1 Investment Management confirms that it made, on February 15, a non-binding proposal to the board of directors of MariaDB to acquire, together with K1's investment affiliates, all of the issued, and to be issued, share capital of MariaDB at a value of 55c per share. K1 sayst the terms of the Possible Offer represent a 189% premium to MariaDB's closing share price on February 5, the last full trading day prior to the announcement by MariaDB of a potential forbearance agreement with RP Ventures LLC and Hale Capital Partners; and a 114% premium to MariaDB's average closing share price of the last 30 calendar days. "K1 has a high regard for the MariaDB business and looks forward to engaging with MariaDB in connection with the Possible Offer. It is intended that the proposed transaction would be effected by way of an Irish law scheme of arrangement whereby K1, or its affiliates, would acquire 100% of the issued shares of the Company. However, K1 reserves the right to implement the proposal, instead, by way of contractual offer. The form and/or mix of the offer consideration has not yet been determined. There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made," the firm stated.
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B | Hot Stocks14:35 EST Barnes Group shareholder Irenic calls Q4 results 'underwhelming' - Irenic Capital Management, a shareholder of Barnes Group and the beneficial owner of approximately 5.1% of the company's outstanding common stock, issued the following statement from Co-Founder and Chief Investment Officer Adam Katz: "We are committed to working constructively and in good faith to help Barnes realize its potential. Today's underwhelming results for the fourth quarter and full-year 2023 reinforce the need for a more engaged, independent and well-rounded Board at Barnes. We encourage the Company to move with greater urgency to work with us on the addition of independent directors with relevant industry and capital allocation expertise. It is time to do the right thing for Barnes' shareholders."
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LBPH | Hot Stocks14:18 EST Longboard Pharmaceuticals Inc trading resumes
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NVOS | Hot Stocks14:10 EST Novo Integrated Sciences appoints Robert Oliva as new President - Novo Integrated Sciences announces Robert Oliva has been appointed as the company's new President. Oliva succeeds Christopher David, who remains as the company's Chief Operating Officer and as a member of the company's board of directors.
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LBPH | Hot Stocks14:08 EST Longboard Pharmaceuticals Inc trading halted, volatility trading pause
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SSP | Hot Stocks14:01 EST Arizona Coyotes launch DTC streaming platform in partnership with Kiswe, Scripps - The Arizona Coyotes announced a new media rights deal in collaboration with leading direct-to-consumer streaming company, Kiswe, and Scripps Sports. This partnership heralds a new era for the Arizona Coyotes, bringing all locally broadcast games of the team directly to fans across Arizona through the innovative D2C platform, Coyotes Central. Fans will be able to subscribe to Coyotes Central beginning February 16, 2024, with the first game being streamed live that evening at 7PM MST. Through Coyotes Central, fans in the local broadcast markets will have access to all non-nationally exclusive live Coyotes games, on-demand replays, pre- and post-game shows, and other exclusive Coyotes content. "We are excited to launch Coyotes Central, a new streaming platform that allows Arizona Coyotes fans to watch Coyotes games and original content at their convenience," said Arizona Coyotes President & CEO Xavier A. Gutierrez. "This innovative direct-to-consumer option is a key component to our overall media strategy, and this partnership with Scripps Sports and Kiswe will enable us to deliver a flexible viewing option in our local broadcast market to our fans and 'fans in waiting."
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BKR | Hot Stocks13:05 EST Baker Hughes reports U.S. rig count down 2 to 621 rigs - Baker Hughes reports that the U.S. rig count is down 2 from last week to 621 with oil rigs down 2 to 497, gas rigs unchanged at 121 and miscellaneous rigs unchanged at 3. The U.S. Rig Count is down 139 rigs from last year's count of 760 with oil rigs down 110, gas rigs down 30 and miscellaneous up 1 to 2. The U.S. Offshore Rig Count is down 2 to 19, up 2 year-over-year. The Canada Rig Count is up 2 from last week to 234, with oil rigs up 3 to 144, and gas rigs down 1 to 90. The Canada Rig Count is down 14 from last year's count of 248, with oil rigs down 19, and gas rigs up 5.
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BKR | Hot Stocks13:02 EST Baker Hughes reports U.S. rig count down 1 to 621 rigs - Baker Hughes reports that the U.S. rig count is down 2 from last week to 621 with oil rigs down 2 to 497, gas rigs unchanged at 121 and miscellaneous rigs unchanged at 3. The U.S. Rig Count is down 139 rigs from last year's count of 760 with oil rigs down 110, gas rigs down 30 and miscellaneous up 1 to 2. The U.S. Offshore Rig Count is down 2 to 19, up 2 year-over-year. The Canada Rig Count is up 2 from last week to 234, with oil rigs up 3 to 144, and gas rigs down 1 to 90. The Canada Rig Count is down 14 from last year's count of 248, with oil rigs down 19, and gas rigs up 5.
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BKR | Hot Stocks13:01 EST Baker Hughes reports U.S. rig count down 2 to 621 rigs
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NEE | Hot Stocks12:09 EST NextEra Energy boosts quarterly dividend 10%, updates dividend policy - The board of NextEra Energy declared a regular quarterly common stock dividend of 51.50c per share, an approximate 10% increase versus the prior-year comparable quarterly dividend. The dividend is payable on March 15, to shareholders of record on February 27. The board also approved an updated dividend policy beyond 2024, which is expected to translate to a growth rate in dividends per share of roughly 10% per year through at least 2026, off a 2024 base, which is expected to be $2.06 per share. "The board's approval to continue to grow our dividends per share in excess of our expected adjusted earnings per share growth rate is a result of our success in executing on our industry-leading business strategy," said John Ketchum, CEO of NextEra Energy. "With a 59% payout ratio at the end of 2023, below the peer average of approximately 65%, and the continued strength of the earnings and operating cash flow growth at NextEra Energy, we remain well positioned to support the dividend policy going forward. I believe we continue to offer a best-in-class total return potential, with above-average dividend growth and clear visibility to deliver financial results at or near the top end of our adjusted earnings per share expectations ranges in each year through 2026, while maintaining our strong balance sheet and credit ratings."
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AUID | Hot Stocks12:08 EST authID Inc trading resumes
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AUID | Hot Stocks12:03 EST authID Inc trading halted, volatility trading pause
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BE | Hot Stocks12:00 EST Bloom Energy falls -19.9% - Bloom Energy is down -19.9%, or -$2.38 to $9.59.
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TDS | Hot Stocks12:00 EST Telephone and Data falls -21.7% - Telephone and Data is down -21.7%, or -$4.00 to $14.44.
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CPS | Hot Stocks12:00 EST Cooper-Standard falls -24.0% - Cooper-Standard is down -24.0%, or -$4.61 to $14.59.
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QUAD | Hot Stocks12:00 EST Quad/Graphics rises 14.8% - Quad/Graphics is up 14.8%, or 81c to $6.29.
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TOST | Hot Stocks12:00 EST Toast rises 17.4% - Toast is up 17.4%, or $3.35 to $22.55.
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KNSL | Hot Stocks12:00 EST Kinsale Capital rises 20.7% - Kinsale Capital is up 20.7%, or $90.43 to $528.00.
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QUAD | Hot Stocks11:49 EST Quad/Graphics shares jump 13.6% after board reinstates dividend - Quad/Graphics shares are up 13.6% to $6.22 after the company announced earlier on Friday that its Board of Directors reinstated its dividend and declared a quarterly dividend on the company's common stock of 5c per share, or 20c per share on an annualized basis. The dividend is payable on March 12, 2024, to shareholders of record as of February 27, 2024. Joel Quadracci, Chairman, President and CEO of Quad, said: "Our consistent, strong cash generation and low debt leverage enable us to reinstate a quarterly dividend, while also maintaining the capital flexibility to invest in growing and automating our business, further reduce debt and seek opportunities for share repurchases."
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BMR | Hot Stocks11:45 EST Beamr Imaging Ltd trading resumes
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BMR | Hot Stocks11:40 EST Beamr Imaging Ltd trading halted, volatility trading pause
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ODFL | Hot Stocks11:26 EST Old Dominion declares two-for-one stock split - Old Dominion Freight Line announced that its Board of Directors has approved a two-for-one stock split of its common stock. The split will be effected by issuing one additional share of common stock for every share of common stock held. The additional shares will be distributed by Computershare Trust Company, N.A., the company's transfer agent, on March 27, 2024, to shareholders of record as of the close of business on the record date of March 13, 2024. Upon completion of the split, the company will have approximately 217,600,000 shares outstanding.
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RHHBY | Hot Stocks11:17 EST Genentech's Xolair approved by FDA for children, adults with food allergies - Genentech, a member of the Roche Group, announced that the U.S. Food and Drug Administration has approved Xolair for the reduction of allergic reactions, including anaphylaxis, that may occur with accidental exposure to one or more foods in adult and pediatric patients aged 1 year and older with IgE-mediated food allergy. People taking Xolair for food allergies should continue to avoid all foods they are allergic to. Xolair should not be used for the emergency treatment of any allergic reactions, including anaphylaxis. Immunoglobulin E-mediated food allergies are the most common type and are typically characterized by the rapid onset of symptoms following exposure to certain food allergens. Xolair is the first and only FDA-approved medicine to reduce allergic reactions in people with one or more food allergies. Xolair is widely available and can now be prescribed for appropriate patients with IgE-mediated food allergy in the U.S. "Xolair offers patients and families an important new treatment option that can help redefine the way food allergies are managed and reduce the often-serious allergic reactions that can result from exposure to food allergens," said Levi Garraway, M.D., Ph.D., Genentech's chief medical officer and head of Global Product Development. "Today's approval builds on 20 years of patient experience and an established efficacy and safety profile since Xolair was first approved in allergic asthma. We look forward to bringing this treatment to the food allergy community who have long awaited an advancement." The FDA approval is based on positive data from the Phase III OUtMATCH study, which evaluated Xolair in patients aged 1 to 55 years allergic to peanuts and at least two other food allergens, including milk, egg, wheat, cashew, hazelnut and walnut.
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BALL BAESY | Hot Stocks10:12 EST Ball Corp. completes sale of aerospace business for $5.6B - Ball Corporation (BALL) announced that the company completed the sale of its aerospace business for approximately $5.6B subject to customary closing adjustments. "Today marks a significant milestone in Ball's 144-year history. We extend our best wishes for continued success to our former colleagues and their new BAE Systems (BAESY) teammates. Ball will utilize the approximately $4.5B of after-tax cash proceeds to reduce leverage, return value to shareholders and embark on the next step in our journey with greater financial flexibility and a focused purpose of advancing sustainability through aluminum packaging solutions that support a world free from waste. Our culture, purpose, operating model, and team are aligned with current and future shareholders' interests by acting responsibly, delivering innovation at scale, and generating cash flow and higher EVA returns to accelerate shareholder value creation now and beyond," said Daniel Fisher, CEO.
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EBIX | Hot Stocks10:11 EST Zinnia to acquire Ebix life and annuity software assets - Zinnia announced it will acquire the Life and Annuity Assets of Ebix. "The L&A assets will further position Zinnia as a partner of choice in the life and annuity industry, expanding its offerings with insurance focused CRM & agency management, market-leading research, quoting, illustration, and order entry tools, and a comprehensive underwriting platform, which will simplify experiences for advisors and their clients," the company stated. On February 15, Zinnia received Court approval to acquire Ebix L&A Assets after being named the winning bidder. The transaction is expected to close in early March, subject to standard closing conditions. Ash Sawhney, President of Ebix Insurance Solutions North America, will join Zinnia heading up the newly formed Life and Annuity Exchange Solutions business, reporting to Trogni. Joining him will be members of the Ebix Life and Annuity senior leadership team and all L&A employees globally. "This is a great outcome for our business. Zinnia's commitment to invest in our products, people, and customer solutions will significantly advance our product roadmaps, which will only serve to benefit the entire industry. Zinnia has a clear vision for the future, and together, we will digitize the end-to-end processing of life and annuity products," said Sawhney.
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BAESY BALL | Hot Stocks10:03 EST BAE Systems completes acquistion of Ball Aerospace - BAE Systems (BAESY) has completed the acquisition of Ball Aerospace from Ball Corporation (BALL). This acquisition adds market-leading space, science and defense capabilities to the company's portfolio of products and services through a new business called Space & Mission Systems.
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HRT | Hot Stocks10:00 EST HireRight rises 9.9% - HireRight is up 9.9%, or $1.27 to $14.14.
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KNSL | Hot Stocks10:00 EST Kinsale Capital rises 11.3% - Kinsale Capital is up 11.3%, or $49.43 to $487.00.
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TOST | Hot Stocks10:00 EST Toast rises 15.1% - Toast is up 15.1%, or $2.89 to $22.09.
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AMN | Hot Stocks10:00 EST AMN Healthcare falls -15.7% - AMN Healthcare is down -15.7%, or -$12.18 to $65.45.
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CPS | Hot Stocks10:00 EST Cooper-Standard falls -20.2% - Cooper-Standard is down -20.2%, or -$3.88 to $15.32.
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BE | Hot Stocks10:00 EST Bloom Energy falls -21.7% - Bloom Energy is down -21.7%, or -$2.60 to $9.38.
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SZZL | Hot Stocks09:49 EST Sizzle Acquisition Corp trading resumes
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AORT | Hot Stocks09:47 EST Artivion rises 7.6% - Artivion is up 7.6%, or $1.37 to $19.41.
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HRT | Hot Stocks09:47 EST HireRight rises 9.8% - HireRight is up 9.8%, or $1.26 to $14.13.
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TOST | Hot Stocks09:47 EST Toast rises 11.4% - Toast is up 11.4%, or $2.18 to $21.38.
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YELP | Hot Stocks09:47 EST Yelp falls -13.8% - Yelp is down -13.8%, or -$6.14 to $38.25.
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CPS | Hot Stocks09:47 EST Cooper-Standard falls -13.9% - Cooper-Standard is down -13.9%, or -$2.67 to $16.53.
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BE | Hot Stocks09:47 EST Bloom Energy falls -22.9% - Bloom Energy is down -22.9%, or -$2.74 to $9.23.
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TVGN | Hot Stocks09:41 EST Semper Paratus Acquisition Corp trading resumes
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SZZL | Hot Stocks09:39 EST Sizzle Acquisition Corp trading halted, volatility trading pause
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HOLO | Hot Stocks09:38 EST MicroCloud Hologram Inc trading resumes
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HOLO | Hot Stocks09:33 EST MicroCloud Hologram Inc trading halted, volatility trading pause
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TVGN | Hot Stocks09:31 EST Semper Paratus Acquisition Corp trading halted, volatility trading pause
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RBLX | Hot Stocks09:23 EST Roblox Chief Technology Officer Daniel Sturman resigns - In a regulatory filing, Roblox disclosed that on February 13, Daniel Sturman notified the company of his decision to resign as Chief Technology Officer of the company, effective May 21, to pursue other opportunities. "The company thanks Mr. Sturman for his dedicated service to the company and wishes him well in his future endeavors," the filing stated.
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APLD | Hot Stocks09:17 EST Applied Digital says Ellendale datacenter re-energized, Garden City down - In a regulatory filing last night, Applied Digital Corporation disclosed: "On February 13, 2024, Applied Digital Corporation was informed that Wind Energy Transmission of Texas, who services the Company's Garden City datacenter hosting facility, would begin to perform maintenance work on a nearby transmission switching station. On February 14, 2024, the company's Garden City facility was de-energized to accommodate WETT's maintenance work safely. No maintenance work or repairs are required at the company's datacenter hosting facility. The outage is currently expected to last three days while the overall maintenance activities are expected to last up to two weeks. While the current impact to revenues is not material, management believes that the impact to revenues could be material for the quarter ending February 29, 2024 if the outage lasts significantly longer than the current expectation of three days. The outage has no impact on our HPC hosting datacenters under construction, which are being designed to provide higher levels of availability in accordance with industry standards. The outage also has no impact on our Cloud services business as those services are provided using third-party facilities." The company also stated that as previously disclosed, on January 18, 2024, the company began experiencing a power outage at our Ellendale datacenter hosting facility, resulting in a complete outage by January 19, 2024. "As of February 15, 2024, the required upgrades to ensure stability of our electrical supply were completed by our electricity provider and the facility is now re-energized. The outage had no impact on our HPC hosting datacenters under construction, which are being designed to provide higher levels of availability in accordance with industry standards. The outage also had no impact on our Cloud services business as those services are provided using third-party facilities."
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MSI | Hot Stocks09:07 EST Motorola Solutions acquires Silent Sentinel, terms not disclosed - Motorola Solutions has acquired Silent Sentinel, a provider of specialized, long-range cameras based in Ware, United Kingdom. Terms of the transaction were not disclosed.
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CLRD | Hot Stocks09:06 EST Clearday Living implements TrueLoo smart toilet seat in select resident rooms - Clearday Living has implemented the TrueLoo smart toilet seat in select resident rooms at its Naples Florida Innovation Center. Use of this cutting-edge technology is another example of how Clearday Living is continually tapping into innovative ideas and products to improve the lives of residents in its Innovation Center. Clearday Living first tested TrueLoo nearly a year ago in its community in Naples to utilize this new toilet technology from Toi Labs.
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FLO | Hot Stocks09:03 EST Flowers Foods declares quarterly dividend of 23c per share - Flowers Foods announced that its board of directors has declared a quarterly dividend of 23c per share, an increase of 4.5% over the same quarter last year. This is the 86th consecutive quarterly dividend paid by the company and is payable on March 15 to shareholders of record on March 1.
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BFA... | Hot Stocks09:03 EST Brown-Forman sells cooperage in Alabama to ISCO - Brown-Forman announced the sale of its cooperage in Trinity, Alabama, to Independent Stave Company, or ISCO. The cooperage will continue to make barrels for the Jack Daniel Distillery as part of a strategic relationship between the companies. ISCO will rename the cooperage from the Jack Daniel Cooperage to the Alabama Cooperage upon closing, expected by May 1. Previously, Brown-Forman sold stave mills in Alabama, Ohio, and Tennessee, to ISCO. Like these prior transitions, current cooperage employees will be offered employment by Independent Stave Company. Brown-Forman will maintain ownership and operation of the long-standing Brown-Forman Cooperage in Louisville, Kentucky. The cooperage produces approximately half of the barrels for the Brown-Forman portfolio of brands and enables ongoing barrel research, development, and innovation for brands and new expressions.
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CNEY | Hot Stocks09:01 EST CN Energy names Steven Berman as new CEO, effective immediately - CN Energy announced the appointment of Steven Berman as its new CEO, effective immediately. This appointment follows a comprehensive global search. Berman is the founder of Berman Electronic Enterprises, a private global enterprise in the semiconductor industry, and has been operating BE Enterprises for the past 15 years.
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GO | Hot Stocks08:56 EST Grocery Outlet to acquire United Grocery Outlet for $62M - Grocery Outlet Holding announced that it has agreed to acquire United Grocery Outlet, an extreme value, discount grocery retailer operating throughout the Southeastern United States, from affiliates of Gen Cap America, Inc. and current and former UGO management for approximately $62M in cash, subject to customary purchase price adjustments. The buyer expects to finance the transaction with available cash. With 40 stores and a distribution center, the acquisition of UGO will expand Grocery Outlet's presence into Tennessee, North Carolina, Georgia, Alabama, Kentucky and Virginia. The acquisition is anticipated to close early in the second quarter, subject to customary closing conditions. In addition to the newly acquired UGO stores, Grocery Outlet plans to open 15 to 20 stores in existing markets in 2024, for a total of 55 to 60 net new stores this year. The acquisition is expected to be modestly accretive to the company's 2024 earnings and will be discussed in more detail on the company's fourth quarter and full fiscal year 2023 earnings call scheduled for Tuesday, February 27. RJ Sheedy, President and Chief Executive Officer of Grocery Outlet, stated, "United Grocery Outlet is a natural fit given our similar opportunistic buying strategies, customer value propositions, and shared mission of serving our communities. This acquisition provides Grocery Outlet with scale in a new region as well as a platform for future expansion in the Southeast. We are excited to welcome the United Grocery Outlet team into the GO family, and we look forward to working together on the many growth opportunities ahead."
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FUSN | Hot Stocks08:48 EST Fusion Pharmaceuticals enters license agreement with Heidelberg Univ., Euratom - Fusion Pharmaceuticals announced that it has entered into an exclusive worldwide license agreement with Heidelberg University and Euratom represented by the European Commission, Joint Research Centre. The license agreement grants Fusion exclusive worldwide rights to utilize, develop, manufacture and commercialize compounds covered by the patent, which includes 225Ac-PSMA I&T for the treatment of prostate specific membrane antigen expressing cancers. In addition, Fusion and the Licensors have signed an agreement to settle the parties' dispute related to an inter partes review of a U.S. patent owned by the Licensors which was instituted in August 2023 by the United States Patent and Trademark Board. As announced in January 2024, Fusion and the U.S. Food and Drug Administration reached alignment on Fusion's Phase 2/3 protocol for FPI-2265 in patients with mCRPC who have progressed following treatment with lutetium-based radiopharmaceuticals. The updated development plan includes a Phase 2 dose optimization lead-in, expected to complete enrollment by the end of 2024, and a Phase 3 registrational trial expected to begin in 2025. Under the terms of the license agreement, Fusion will pay the Licensors an aggregate upfront fee of EUR1.0M, in addition to certain regulatory milestones upon potential approval and low single-digit royalties on future net sales of applicable products.
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MIGI | Hot Stocks08:48 EST Mawson Infrastructure reports January total revenue about $7.06M - Rahul Mewawalla, CEO and President, commented, "We are very pleased to see the continued progress across our three primary business lines and our total revenue in January 2024 growing to triple of our total revenue back in January last year. We were also delighted to recently announce the signing and welcoming of FTI as our newest co-location customer, the third consecutive co-location customer agreement executed by the Company since the start of Q4, 2023. Our operational, technological, and strategic plans continue to advance and we are excited about 2024 ahead for Mawson and our broader industry and ecosystem." Unaudited January Monthly Operating Results Summary: Total monthly revenue of about $7.06 million or about the equivalent of 174 BTC. More than 3X growth from January 2023 in Total Overall Revenue and about 18% M/M revenue growth. Energy management business revenue of $2.20 million, co-location business revenue of $2.78 million and self-mining revenue of $2.08 million. Expanded our co-location customer base and have now signed three new customers since the start of Q4, 2023. Total Power Capacity was approximately 109 MW with capacity for approximately 35,650 miners
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PODC | Hot Stocks08:47 EST PodcastOne acquires exclusive rights to 'Camp Counselors' podcast - PodcastOne has acquired the exclusive sales and distribution rights to Camp Counselors with Zachariah Porter and Jonathon Carson. The podcast first launched in 2022 and has released nearly 100 episodes to date. Camp Counselors with Zachariah Porter and Jonathon Carson is a good natured podcast hosted by your favorite fake camp counselors Zachariah and Jonathan. Here at Camp Shady Birch we love the great outdoors in theory, but we'd rather spend our time making friendship bracelets, spreading camper gossip, keeping our heads in the clouds, and avoiding archery. We know we would make great camp counselors minus the fact that we know nothing about camping. So grab your sunscreen and bug spray because things are about to get campy.
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MDXH | Hot Stocks08:45 EST MDxHealth director Jan Pensaert resigns - MDxHealth announced that Jan Pensaert has stepped down from the Board of Directors of mdxhealth. His resignation was effective as of February 15, 2024. Mr. Pensaert's resignation is not the result of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company.
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WBD LBTYA | Hot Stocks08:44 EST RedBird IMI to acquire All3Media for GBP 1.15B - RedBird IMI has agreed to acquire All3Media from its joint owners, Warner Bros. Discovery (WBD) and Liberty Global (LBTYA) for GBP 1.15 Billion. RedBird IMI is a joint venture between RedBird Capital Partners and International Media Investments focused on building high-growth companies in media, entertainment and sports. All3Media, based in London, has 50 production labels, including Studio Lambert, Raw, Two Brothers Pictures, Silverback Films, New Pictures and Neal Street Productions, producing top global shows such as The Traitors, Squid Game: The Challenge, Gold Rush, Midsomer Murders, American Nightmare, The Circle, Call the Midwife, The Tourist, Life On Our Planet, The Long Shadow and Gogglebox. All3Media's library spans all genres, including contemporary thrillers, detective series, soap operas, comedy, costume drama and true crime as well as documentary, features, children's and reality programming. The Group's companies have global presence, across the UK, US, Germany, the Netherlands, Belgium and New Zealand and produce 4,000 hours annually for linear broadcasters, VOD, social media and other digital platforms. All3Media International operates a distribution catalog of over 30,000 hours, while the Group's digital business, Little Dot Studios, drives audiences in social video, podcast, and branded content across multiple platforms. Jeff Zucker, the CEO of RedBird IMI, will become the chairman of the All3Media board. Jane Turton and Sara Geater will continue to lead the company for RedBird IMI.
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TRUP | Hot Stocks08:39 EST Trupanion falls after identifying material weaknesses in internal controls - Along with having announced financial results for the fourth quarter and full year ended December 31, 2023 last night, Trupanion disclosed that it had found two material weaknesses in internal controls. The company stated: "While the company is still completing its assessment of the effectiveness of its internal controls over financial reporting in its upcoming fiscal 2023 Annual Report on Form 10-K, the company expects to report two material weaknesses in internal controls. The first material weakness relates to information technology controls, primarily in the areas of user access and program change-management over certain information technology systems. The second material weakness relates to internal controls over financial reporting, pertaining to the Company's Other Business segment. The 2023 audit remains open, and the company is working with its auditors to complete the process. As a result, the company's financial results for the fourth quarter and full year 2023 are preliminary and subject to the completion of the audit. Efforts to remediate these material weaknesses are underway. The company expects to provide additional details about the material weaknesses, including its remediation efforts, in its Annual Report on Form 10-K." In pre-market trading, Trupanion shares have fallen $8.39, or 24%, to $26.89.
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SURG | Hot Stocks08:37 EST SurgePays appoints Derron Winfrey as Vice President - SurgePays announced the appointment of Fintech and prepaid industry veteran Derron Winfrey as vice president, business development of the Company. Winfrey joined SurgePays in 2019 as part of SurgePays' purchase of ECS Prepaid, which he founded and served as chief operating officer.
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IDAI | Hot Stocks08:36 EST Trust Stamp issues warning on newly discovered Trojan impacting iOS Devices - Trust Stamp issued a warning to financial institutions and their customers regarding the emerging dangers of Trojans that are being used to gain unauthorized access to bank accounts. In October of 2023 Group-IB researchers released a report regarding a newly discovered Android Trojan which they named "GoldDigger". Subsequent to that report, Group-IB's threat intelligence unit identified a cluster of aggressive banking Trojans targeting the APAC region. On February 15, 2024 Group-IB announced the discovery of "GoldPickAxe", the first known iOS Trojan harvesting facial biometric data used for unauthorized access to bank accounts. Scott Francis, Trust Stamp's Chief Technology Officer commented, "Although these specific Trojan attacks currently appear to be confined to the APEC region, cybercrime is global and we have to assume that these attacks will spread very quickly. With fast evolving attacks such as these Trojans, being a good steward of biometric data demands systems that do not require that data to be stored on potentially vulnerable devices. Until the emergence of these Trojans, we worried about Android vulnerabilities, and iOS device security was treated as unquestioned, but now that has to be reconsidered."
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SUI | Hot Stocks08:36 EST Sun Communities appoints Ehlinger, Leupold to board of directors - Sun Communities announced that Jerry Ehlinger and Craig Leupold have joined the Company's Board of Directors, effective immediately. Gary Shiffman, Chairman, President and Chief Executive Officer, commented, "We welcome Jerry and Craig to the Board and appreciate the collaborative engagement we have had with Land & Buildings, a Sun Communities shareholder. Jerry has a decades-long REIT pedigree and Craig brings new perspectives in real estate investment management. These appointments are another step in refreshing our Board, ensuring we have fresh perspectives and the right mix of skills to guide Sun Communities' future growth and success for the benefit of all shareholders."
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INBS | Hot Stocks08:35 EST Intelligent Bio Solutions regains compliance with Nasdaq bid price requirement - Intelligent Bio Solutions announced that on February 13, 2024, it received written notification from the Listing Qualifications Department of The Nasdaq Stock Market that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires that the Company's common stock maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's common stock was at $1.00 per share or greater for the prior 11 consecutive business days. Accordingly, the Company is now in compliance with the Minimum Bid Price Requirement for continued listing, and Nasdaq considers the matter closed.
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ALLO | Hot Stocks08:35 EST Allogene Therapeutics to restate previously filed financial statements - Allogene Therapeutics will restate previously issued financial statements for the years ended December 31, 2020, 2021 and 2022 and interim quarters during 2022 and 2023 due to non-cash accounting adjustments associated with the December 2020 formation of the Allogene Overland Biopharm joint venture in Asia. These amended financial statements will have no impact on the Company's cash, cash equivalents and marketable investments, cash runway or business operations. The Company is also reiterating its previous guidance that it has sufficient financial resources to fund its operations into 2026. The Company, as a non-accelerated filer, remains on track for the timing of its next quarterly update and intends to file the amended financial statements as soon as feasible, targeting on or before March 14, 2024 for such filing and to report fourth quarter and full year 2023 results.
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LBTYA | Hot Stocks08:34 EST Liberty Global announces intention to spin-off Sunrise to shareholders - Liberty Global announced its intention to spin-off 100% of Sunrise to Liberty Global shareholders. The listing of Sunrise on the SIX Swiss Exchange is planned for 2H24. Sunrise will be listed with a long dated, low-cost capital structure supported by up to CHF1.5B, or $1.7B, of debt reduction. The debt reduction is expected to be accomplished through Sunrise's expected FCF generation, debt optimization and Liberty Global corporate liquidity including non-core asset disposals at Liberty Global. The proposed spin-off is expected to be tax-free for Liberty Global U.S. shareholders with evaluation of tax treatment in other jurisdictions ongoing and is subject to market conditions, board approval of the final terms of the spin-off, Liberty Global shareholder approval and other customary conditions. Following the Sunrise spin-off, Liberty Global will retain its consolidated interests in Telenet, Virgin Media Ireland, and its joint venture stakes in Virgin Media-O2 and VodafoneZiggo in addition to its Ventures portfolio and significant remaining cash balance.
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VLCN | Hot Stocks08:34 EST Volcon releases second production update video - Volcon posted a video to its website providing an update on the Stag launch.
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JZ | Hot Stocks08:33 EST Jianzhi Education announces plan to implement ADS ratio change - Jianzhi Education Technology Group Company announced that it plans to change the ratio of its American Depositary Shares from current one ADS representing two ordinary shares to a new ADS Ratio of one ADS representing six ordinary shares. The Company anticipates that the ADS Ratio Change will be effective on or about February 20, 2024. Jianzhi's ADSs will continue to be traded on the Nasdaq Stock Exchange under the symbol "JZ". For Jianzhi's ADS holders, the ADS Ratio Change will have the same effect as a one-for-three reverse ADS split. Each ADS holder of record at the close of business on the date when the ADS Ratio Change is effective will be required to surrender and exchange every three existing ADSs then held for one new ADS. The Bank of New York Mellon, as the depositary bank for Jianzhi's ADSs, will arrange for the exchange of the current ADSs for the new ones.
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GXAI | Hot Stocks08:33 EST Gaxos.AI to launch AI solution for game developers, studios - Gaxos.ai announced that its gaming division, Gaxos Gaming, will launch an artificial intelligence solution for game developers and studios. Gaxos Gaming is at the forefront of game development innovation and will offer a transformative Generative AI Service that empowers the gaming industry to create without limits. With a focus on dynamic content generation, seamless integration, and personalized solutions, Gaxos Gaming is raising the bar in game development. Key Features: AI-Powered Creativity: Reduces creative asset development time from hours to minutes, transforming artistic visions into reality with ease. Seamless Integration: With plug-and-play functionality for Unity and upcoming support for Unreal Engine, integration is effortless into existing workflows. -Dynamic Content Generation: UGAiC feature offers new experiences with each playthrough by letting gamers use AI in real time, fostering a dynamic gaming environment. Customized Solutions: From personalized AI models and templates to expert consulting services, offering to include custom solutions to meet unique needs of each developer.
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IFBD | Hot Stocks08:31 EST Infobird suspends capital raising for next three months - Infobird announced that there will be no financing plan in the next three months. "Our management team would appreciate for potential investors continued attention and interest to the company, and we have raised some operating funds in previous financing activities will help us better expand our business. To better protect the interests of our small and medium shareholders, our management team decided not carry out any financing activities in the next three months and suspend previous financing activities conducted by the company after speaking with and agreed by previous investors. We will continue to diligently develop the company's business and seek new opportunities."
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SBUX | Hot Stocks08:21 EST Starbucks shareholder sends letter to SEC calling for disclosure of information - The Strategic Organizing Center, or SOC, a shareholder of Starbucks, submitted a letter to the SEC, detailing what it believes are failures by Starbucks to properly disclose material information - including the full cost to date of the company's "aggressive and illegal anti-unionization efforts" - that shareholders have a right to know in advance of making voting decisions prior to the annual meeting of shareholders. The annual meeting is currently scheduled for March 13. As the letter states: "Since before the Proxy Contest began, Starbucks has attempted to create a smokescreen of positivity around its conduct concerning its aggressive opposition to Starbucks workers' efforts to unionize, in many cases by violating federal labor laws. These efforts are well documented. Moreover, the Company's forceful tactics have led not only to increasingly problematic human capital management issues, but also substantial costs and liabilities that the Company has never acknowledged or disclosed, but that the SOC estimates to be at least $240 million to date. The SOC's analysis includes the estimated total of litigation costs and expenses, other categories of expenditures (including employee lost time, communications and internal Starbucks staffing) as well as liabilities associated with labor law violations sustained by National Labor Relations Board (the "NLRB") complaints and/or labor judge determinations. Based on the SOC's analysis, Starbucks' anti-union campaign includes the following estimated costs and liabilities through February 2024: Estimated Costs Based on Company Anti-Union Activity through February 2024: Legal Fees: Litigation (State and Federal Court, NLRB),1 Campaign Advice, Expenses $100 million Consultants and Internal Support: Communications, Research, Training $40 million Store Employee Productivity Lost Time: Captive Audience Store and Individual Meetings, Trainings $13 million Estimated Liabilities Based on NLRB General Counsel Complaints and Administrative Law Judge Decisions through February 2024:2 Illegally Denied Wages and Tips (Note: This grows at a rate of $815,000 per week) $61 million Illegal Firings and Store Closings $26 million Total Estimated Expenditures and Liabilities $240 million The letter also describes why the SOC believes that Starbucks' proxy materials and other filings fail to provide an accurate portrayal to shareholders: Indeed, the Company spills a fair amount of ink (in its proxy statement) on its "Reinvention Plan" and business strategy to paint a rosy-yet misleading-picture of its purported attention to its partners that acknowledges their importance while obfuscating Starbucks' true approach to human capital management that informs the Proxy Contest.3 In doing so, the Company tactically and conveniently cherry picks what it thinks the broader investing public should know about its business and about the Proxy Contest. In the letter, the SOC requests that the SEC require Starbucks to fully disclose to shareholders the costs and liabilities associated with its anti-union efforts. The SOC believes Starbucks' lack of disclosure and the exorbitant cost to shareholders represent just the latest examples of the current Board's lack of oversight, counterproductive approach to labor issues and flawed allocation of resources. For these reasons - and to protect shareholder value - the SOC has nominated three director candidates (the "SOC Nominees"), who are ideally suited to help repair the relationship with the Company's workers and regulators while safeguarding the best interests of all Starbucks' stakeholders. The SOC Nominees are: Maria Echaveste, a former senior White House official, senior Department of Labor appointee and corporate attorney with significant international relations and public company board experience. Hon. Joshua Gotbaum, who has been a director of both public and private companies with decades of experience in corporate governance and change, as well as significant public policy and government experience. Hon. Wilma Liebman, who possesses over 40 years of experience in labor management, employee relations, wage negotiations, public policy and law - including having served as the Chair of the NLRB under President Barack Obama. Shareholders can be part of ensuring Starbucks returns to the right path for the future by using the BLUE proxy card to vote "FOR" each of the SOC Nominees today. Shareholders can also vote for the SOC Nominees on the Company's White proxy card."
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WKEY | Hot Stocks08:20 EST WISeKey Arabia provides cybersecurity solutions for Saudi Arabia transformation - WISeKey International announced that its "WISeKey Arabia" joint venture with E.A. Juffali & Brothers has become a key player in Saudia Arabia's cybersecurity and digital transformation process by providing state-of-the-art cybersecurity solutions, secure communication, and IoT infrastructure. In 2019, WISeKey established WISeKey Arabia, a joint venture with Saudi Advanced Technologies company Ltd, a wholly owned company of Juffali Group aiming to localize cybersecurity and IoT offerings in the Middle East. Since its establishment, the WISeKey Arabia joint venture, has been at the forefront of effort to enhance Saudi Arabia's cybersecurity and digital infrastructure capabilities. The joint venture not only supports the Kingdom's digital transformation but also enhances its competitive edge by attracting investments and fostering innovation within the digital economy.
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GES | Hot Stocks08:16 EST Guess and WHP Global to acquire rag & bone, Guess to contribute $56.5M - Guess and global brand management firm WHP Global announced a definitive agreement to acquire New York-based fashion brand rag & bone. Under the terms of the agreement, Guess will acquire all the rag & bone operating assets, with Guess and WHP Global to jointly own rag & bone's intellectual property. Currently, the brand directly operates 34 stores in the U.S. and two stores in the U.K., and is also available in high-end boutiques, department stores and through e-commerce globally. In 2023, rag & bone generated unaudited annual revenue of approximately $250M and adjusted EBITDA of $18M. rag & bone will continue to be based in New York City. As part of the Guess portfolio, the rag & bone team will operate as an independent fashion brand with a focus on continuing to provide unique and timeless collections to its customers. Guess and WHP Global have entered into a definitive agreement to acquire rag & bone, under which Guess will contribute $56.5M. Additionally, there is the potential for an incremental earnout consideration of which Guess will be responsible for a maximum of $12.8M, based on preset levels of sales and EBITDA performance over the course of rag & bone's 2024 fiscal year. Under the terms of the agreement, Guess will acquire and own all the brand's operating assets and assume the related operating liabilities of the rag & bone business. In addition, a joint venture owned 50% by Guess and 50% by WHP Global will acquire rag & bone's intellectual property. Guess and the joint venture will enter into a license agreement granting Guess the exclusive right to use rag & bone IP to manufacture licensed products worldwide and to sell licensed products in specified territories in exchange for Guess' payment of a royalty fee. The acquisition is subject to customary closing conditions, including regulatory approval, and is expected to close during the first quarter of Guess' 2025 fiscal year.
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AXL | Hot Stocks08:12 EST American Axle estimates 2024-2026 new business backlog about $600M - AAM's gross new and incremental business backlog launching from 2024 - 2026 is estimated at approximately $600M in future annual sales. AAM expects the launch cadence of the three-year backlog to be approximately $300M in 2024, $175M in 2025 and $125 million in 2026. Electrification mix approximates 50% of AAM's new business backlog versus 40% in the prior backlog (2023-2025). The backlog takes into account recent OEM powertrain trends and timing estimates.
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NKLA | Hot Stocks08:10 EST Nikola names Carla Tully to board of directors - Nikola announced the appointment of energy and infrastructure expert Carla Tully, to its Board of Directors. Over more than two decades, Tully has built a successful track record leading and scaling energy organizations across Fortune 150, private equity, startup, and government entities. Tully serves as the Vice Chair of Earthrise Energy's Board of Directors, a Board Director for Citizens for Responsible Energy Solutions Forum and as an Advisor to several energy transition startups.
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HRT | Hot Stocks08:10 EST HireRight to be acquired by General Atlantic, Stone Point for $14.35 per share - HireRight announced that it has entered into a definitive agreement to be acquired by investment funds affiliated with General Atlantic, L.P. and Stone Point Capital. The sponsors are currently the beneficial owners of approximately 75% of the company's outstanding shares of common stock. Under the terms of the agreement, the sponsors will acquire all of the outstanding shares they do not already own for $14.35 per share in cash, which implies a total enterprise value of approximately $1.65B. The purchase price represents a premium of approximately 47% over HireRight's 30-day volume weighted average price per share as of November 17, 2023, the last trading day prior to when the Sponsors indicated that they had agreed to work together regarding a potential strategic transaction involving the company, and an approximate 43% premium to the company's closing stock price on the same date. The transaction is expected to close in mid-2024, subject to approval by stockholders of a majority of the shares not owned by the Sponsors, receipt of regulatory approvals, including receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary closing conditions.
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AHT | Hot Stocks08:08 EST Ashford Hospitality to sell Residence Inn located in Salt Lake City, Utah - Ashford Hospitality Trust announced that it has signed a definitive agreement to sell the 144-room Residence Inn located in Salt Lake City, Utah for $19.2M. The sale is expected to be completed in early March and is subject to normal closing conditions. The company provides no assurances that the sale will be completed on these terms or at all. When adjusted for the company's anticipated capital expenditures, the sale price represents a 4.6% capitalization rate on 2023 net operating income, or 18.2x 2023 Hotel EBITDA. Excluding the anticipated capital spend, the sale price represents a 6.0% capitalization rate on 2023 net operating income, or 14.0x 2023 Hotel EBITDA. All of the proceeds from the sale are expected to be used to pay down debt.
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PPL | Hot Stocks08:07 EST PPL Corp. raises quarterly dividend 7.3% to 25.75c from 24c per share - The increased dividend will be payable April 1 to shareowners of record as of March 8 and reflects PPL's commitment to dividend growth in line with earnings per share growth targets.
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HEPA | Hot Stocks08:06 EST Hepion Pharmaceuticals announces exercise of warrants for $2M in gross proceeds - Hepion Pharmaceuticals has entered into a definitive agreement for the immediate exercise of an outstanding Series B common stock purchase warrant held by an institutional investor to purchase an aggregate of 980,393 shares of Hepion common stock for gross proceeds to the Company of approximately $2.0 million. As part of this transaction, the investor agreed to exercise the existing Series B common stock purchase warrant at a revised exercise price of $2.10 per share. The resale of the shares of common stock issuable upon exercise of the warrant were registered pursuant to an effective registration statement on Form S-1. In consideration for the immediate exercise of the existing warrant for cash, Hepion has agreed to issue to the investor two new unregistered warrants, each to purchase 735,295 shares of common stock at an exercise price of $1.91 per share. The new warrants will be exercisable immediately upon issuance. Such warrants are identical, except that one warrant has a term of five years and the second warrant has a term of eighteen months. A.G.P./Alliance Global Partners is acting as the exclusive financial advisor in connection with the offering. The transaction is expected to close no later than February 21, 2024, subject to satisfaction of customary closing conditions. Hepion intends to use the net proceeds from the exercise for general corporate purposes.
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VRDN SANA | Hot Stocks08:06 EST Viridian Therapeutics names Jennifer Tousignant chief legal officer - Viridian Therapeutics (VRDN) announced the appointment of Jennifer Tousignant to the role of chief legal officer. Tousignant joins Viridian most recently from Sana Biotechnology (SANA) where she was Senior Vice President of Legal and led the legal team responsible for research and development, regulatory, quality, intellectual property, business development, corporate communications and investor relations, and litigation.
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KNTE XOMA | Hot Stocks08:05 EST Xoma to acquire Kinnate for between $2.3352-$2.5879 per share plus CVR - Kinnate Biopharma (KNTE) entered into a definitive merger agreement whereby XOMA Corporation (XOMA) will acquire Kinnate for a price per share of Kinnate common stock of between $2.3352 and $2.5879 in cash, consisting of a base cash price of $2.3352 per share and an additional cash amount of up to $0.2527 per share, plus one non-transferable contingent value right per share, representing the right to receive 100% of the net proceeds payable from any disposition of the Company's investigational pan-RAF inhibitor, exarafenib, and/or any other pan-RAF inhibitors prior to the closing of the merger transaction and 85% of the net proceeds payable from any disposition of other Kinnate assets entered into prior to, or within one year from, closing and received within five years of closing pursuant to a definitive contingent value rights agreement. Following a thorough review process conducted by a special committee of disinterested and independent members of Kinnate's Board of Directors, with the assistance of the Special Committee's legal and financial advisors, all disinterested and independent members of the Board unanimously determined that the acquisition by XOMA is in the best interests of all Kinnate shareholders, and has, following the unanimous recommendation of the Special Committee, approved the Merger Agreement and related transactions. Pursuant and subject to the terms of the Merger Agreement, a wholly owned subsidiary of XOMA will commence a tender offer by March 4, 2024 to acquire all outstanding shares of Kinnate common stock. Closing of the Offer is subject to certain conditions, including the tender of Kinnate common stock representing at least a majority of the total number of outstanding shares, the availability of at least $120 million of cash at closing, and other customary closing conditions. Kinnate officers, directors and shareholders holding approximately 46% of Kinnate common stock have signed support agreements under which such parties have agreed to tender their shares in the Offer and support the merger transaction. The merger transaction is expected to close in the first half of 2024.
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XOMA KNTE | Hot Stocks08:04 EST Xoma to acquire Kinnate Biopharma for between $2.3352-$2.5879 per share plus CVR - XOMA Corporation (XOMA) has entered an agreement to acquire Kinnate Biopharma (KNTE) for a base cash price of $2.3352 per share and an additional cash amount of not more than $0.2527 per share at the closing of the merger plus a non-transferable contingent value right representing the right to receive 85% of the net proceeds from any out license or sale of the Kinnate programs effected within one year of closing of the merger or 100% of the net proceeds from any out license or sale executed prior to the closing. Following a thorough review process conducted with the assistance of its legal and financial advisors, Kinnate's Board of Directors has determined that the acquisition by XOMA is in the best interests of all Kinnate stockholders and has unanimously approved the Merger Agreement. Pursuant and subject to the terms of the Merger Agreement, a wholly owned subsidiary of XOMA will commence a tender offer by March 4, 2024, to acquire all outstanding shares of Kinnate common stock. Closing of the Offer is subject to certain conditions, including the tender of Kinnate common stock representing at least a majority of the total number of outstanding shares; the availability of at least $120.0 million of cash, net of transaction costs, wind-down costs, and other liabilities, at closing, and other customary closing conditions. Immediately following the closing of the tender offer, Kinnate will merge with a subsidiary of XOMA, and all remaining shares not tendered in the offer, other than appraisal shares, will be converted into the right to receive the same cash and CVR consideration per share as is provided in the tender offer. Kinnate shareholders holding approximately 46% of Kinnate common stock have signed support agreements under which such shareholders agreed to tender their shares in the Offer and support the merger. The acquisition is expected to close in April 2024.
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PLCE | Hot Stocks08:03 EST Children's Place has entered into a non-binding term sheet for $130M term loan - The Children's Place announced that it has entered into a non-binding term sheet with 1903P Loan Agent, as Lender, Administrative Agent and Collateral Agent, for a $130 million term loan. Additional details concerning the Term Sheet, certain of the expected terms of the Term Loan, and the Company's ongoing activities concerning strategic alternatives, may be found in the Form 8-K filed by the Company with the Securities and Exchange Commission on February 16, 2024.
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AMIX | Hot Stocks08:03 EST Autonomix begins human POC trial evaluating pancreatic cancer market - Auonomix Medical announced the completion of its site initiation for its proof-of-concept human clinical study evaluating the use of transvascular RF ablation for the treatment of pancreatic cancer pain. The primary objective of the proof-of-concept, POC, human clinical study is to successfully ablate relevant somatic nerves and mitigate pain in patients with pancreatic cancer pain utilizing RF ablation in a transvascular approach to the nerves in the region. Enrollment is expected to be completed before the end of 2024. Expected Upcoming Milestones: Q1 CY2024: Principal Investigator selection and agreements; Q1 CY2024: Commence enrollment in PoC human clinical study evaluating proprietary ablation technology for treatment of pancreatic cancer pain; 2024: Complete ablation device design intended for clinical use; 2025: Complete development of ablation system and catheter in preparation for human pivotal trial; 2025: Launch combined sensing / ablation clinical trial; 2026: De novo submission; 2027: FDA clearance
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USM | Hot Stocks07:35 EST U.S. Cellular sees FY24 CapEx $550M-$650M
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IXHL | Hot Stocks07:32 EST Incannex completes pre-IND meeting with FDA for CannQuit-N - Incannex Healthcare announced the completion of a pre-IND meeting with the U.S. Food and Drug Administration regarding the development of CannQuit-N for tobacco smoking cessation and control of relapse. The pre-IND teleconference included representatives from various divisions of the FDA covering all regulatory aspects of the CannQuit-N development program. The Agency had reviewed the CannQuit-N meeting package and provided recommendations on key design aspects of the proposed clinical trials, including the timing of efficacy endpoints and specific details on safety endpoints. The FDA also confirmed proposed strategies for manufacturing and quality control are appropriate. The productive discussion with the FDA is an important milestone for the development of CannQuit-N and will guide the continued development of the drug product.
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SRPT | Hot Stocks07:15 EST Sarepta announces FDA acceptance of efficacy supplement to Elevidys BLA - Sarepta announced the FDA has accepted and filed the company's efficacy supplement to the biologics license application, or BLA, for Elevidys. The goals of the Efficacy Supplement are twofold: To expand the labeled indication for Elevidys as follows: "[ELEVIDYS is indicated for] the treatment of Duchenne muscular dystrophy, or DMD, patients with a confirmed mutation in the DMD gene." To convert the Elevidys accelerated approval to a traditional approval. The FDA has granted the Efficacy Supplement a priority review with a review goal date of June 21. The agency has also confirmed they are not planning to hold an advisory committee meeting to discuss the supplement.
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FLYLF EADSY | Hot Stocks07:08 EST Flyht Aerospace receives STC certification fo AFIRS Edge on A320 - FLYHT Aerospace Solutions (FLYLF) announced that Transport Canada has issued FLYHT a Supplemental Type Certificate for the flange version of the AFIRS Edge, the Company's 5G wireless data communication device, for Airbus (EADSY) A320 aircraft. The achievement of this STC enables FLYHT to ship the Edge units to Canadian A320 customers while at the same time familiarizing the Canadian STC into other jurisdictions to enable worldwide distribution.
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TELL | Hot Stocks07:07 EST Tellurian announces FERC extension for Driftwood LNG - Tellurian announced that the U.S. Federal Energy Regulatory Commission, or FERC, has issued an extension to its order authorizing the construction of Tellurian's Driftwood LNG facility near Lake Charles, Louisiana. As extended, the order requires construction to be completed by April 18, 2029. Tellurian applied for the extension last year to ensure it had enough time to complete the construction of all five plants of the facility. When completed, the facility will have a capacity of 27.6M tons per annum.
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EYPT | Hot Stocks07:06 EST EyePoint reports inducement grants under Nasdaq listing rule - EyePoint Pharmaceuticals announced that the Company granted non-statutory stock options to new employees as inducement awards outside the Company's 2023 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The Company granted stock options to purchase up to an aggregate of 49,000 shares of EyePoint Pharmaceuticals common stock to five new employees. The stock options were granted on February 15, 2024. The grants were approved by the Compensation Committee and made as an inducement material to each employee entering into employment with EyePoint Pharmaceuticals in accordance with NASDAQ Listing Rule 5635(c)(4). The option awards have an exercise price of $29.08 per share, the closing price of EyePoint Pharmaceuticals' common stock on February 15, 2024. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee's date of grant and the remainder vesting in equal monthly installments over the following three years. Vesting of the options is subject to the employee's continued service with EyePoint Pharmaceuticals through the applicable vesting dates.
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DTM | Hot Stocks07:05 EST DT Midstream increases quarterly dividend 7% to 73.5c per share - Increased dividend by 7% from fourth quarter 2023 to 73.5c per share, to be paid on April 15, 2024 to stockholders of record on March 18, 2024
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DTM | Hot Stocks07:04 EST DT Midstream raises 2024 adjusted EBITDA view $930M-$980M - Provides 2025 Adjusted EBITDA early outlook range of $980M to $1.04B, representing 6% annual growth from 2024. "Our strong financial results for 2023, combined with our strong organic backlog, advantaged asset positions, and flexible balance sheet give us high confidence in meeting our goals for this year and beyond," said Jeff Jewell, Executive Vice President and CFO.
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PBT | Hot Stocks07:03 EST Permian Basin Royalty Trust declares monthly distribution of 4.546c per unit - Argent Trust Company, as Trustee of the Permian Basin Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of 4.546c per unit, payable on March 14, to unit holders of record on February 29. This month's distribution increased from the previous month due to a slight increase in production and in the pricing of oil and gas, as well as a slight decrease in capital costs on the Waddell Ranch Properties. There was a slight increase in oil volumes produced on the Texas Royalty Properties, offset by a decrease in the price of oil. The gas pricing for the Texas Royalty Properties increased slightly, with gas volumes remaining flat for the month.
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CASI | Hot Stocks07:01 EST Casi Pharmaceuticals announces first dosing of FOLOTYN in China - Casi Pharmaceuticals announced the administration of the first dose of FOLOTYN to a patient in China. This remarks a pivotal step in CASI's commitment to addressing critical medical needs in peripheral T-cell lymphoma in China market.
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TRP | Hot Stocks06:39 EST TC Energy raises quarterly dividend 3.2% to C$0.96 per share - The common share dividend is payable on April 30 to shareholders of record at the close of business on March 28.
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ASIX | Hot Stocks06:33 EST AdvanSix sees FY24 CapEx $140M-$150M - Outlook: Expect nylon industry spreads to remain stabilized near current levels amid weak demand; Anticipate higher Nylon Solutions exports in first half of 2024 year-over-year. Anticipate strong ammonium sulfate seasonal demand supported by continued favorable underlying agriculture industry fundamentals; Expect first half 2024 year-over-year pricing declines amid lower nitrogen pricing environment. Expect balanced to tight global acetone supply and demand conditions. Expect Capital Expenditures of $140 to $150 million in 2024, reflecting increased spend to address critical enterprise risk mitigation and growth projects including our SUSTAIN program. Expect pre-tax income impact of planned plant turnarounds to be $38 to $43 million in 2024 versus approximately $30 million in 2023. Now expect to incur a total unfavorable impact to pre-tax income in 1Q24 of $23 to $27 million as a result of the process-based operational disruption at our Frankford, PA manufacturing site and a delayed ramp to planned utilization rates. "While the previously disclosed operational disruption at our Frankford, Pennsylvania manufacturing site is impacting our first quarter results, our teams have been focused on stabilization of phenol production, which is enabling us to ramp up our Hopewell and Chesterfield manufacturing facilities to our targeted utilization rates. We thank our customers, partners and AdvanSix teammates for their collaboration and agility to mitigate the value chain impact of this event. Our focus remains on performing in the current set of industry dynamics and executing levers in our control, including remaining disciplined on cost and optimizing working capital. Our outlook reflects a continued investment in our long-term potential through both our SUSTAIN program's planned expansion in granular ammonium sulfate production and increased infrastructure spend in 2024 to mitigate enterprise risk," CEO concluded Kane.
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SBUX | Hot Stocks06:01 EST Starbucks announces new accessibility guidelines for U.S. store portfolio - Starbucks announced that it is creating a more accessible store experience across its U.S. store portfolio through an Inclusive Spaces Framework. Building on the company's commitment to inclusion, the new design framework defines how Starbucks will help expand independence, choice and ease for all people across physical and digital spaces. The first store to be built using the inclusive design framework opens today in Washington, D.C. and features items such as optimized acoustics and lighting for improved visual and audible communication for customers and accessible equipment designs for a better partner (employee) experience among other features. The Inclusive Spaces Framework was created in partnership with a diverse community of customers, partners and accessibility experts to develop scalable solutions for retail spaces. Moving forward, all newly built and renovated Starbucks company-operated stores in the U.S. will begin to incorporate the framework, a key milestone in ensuring Starbucks continues to expand accessibility and inclusion. The framework will also be open sourced and further developed to help expand accessibility across the retail industry.
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REGN SNY | Hot Stocks05:26 EST Regeneron, Sanofi announce MHLW in Japan approves Dupixent - Regeneron (REGN) and Sanofi (SNY) announced that the Ministry of Health, Labor and Welfare, or MHLW, in Japan has granted marketing and manufacturing authorization for Dupixent for the treatment of chronic spontaneous urticaria, or CSU, in people aged 12 years and older whose disease is not adequately controlled with existing therapy. Japan is the first country to approve Dupixent for CSU, emphasizing the value of Dupixent as a novel treatment option to manage this disease in patients with unmet needs.
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