Stockwinners Market Radar for March 14, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
LFWD | Hot Stocks19:50 EDT Rewalk Robotics LTD trading halted, news pending
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GRPH | Hot Stocks19:50 EDT Graphite Bio trading halted, news pending
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BNAI DHCA | Hot Stocks18:51 EDT Brand Engagement Network closes combination with DHC Acquisition - Brand Engagement Network (BEN) closed its business combination with DHC Acquisition (DHCA). DHC shareholders approved the transaction at DHC's extraordinary general meeting held on March 5. The combined company is now called Brand Engagement Network and is expected to begin trading on Nasdaq on Friday, March 15, under the ticker symbol "BNAI" for its common stock and "BNAIW" for its publicly traded warrants. BEN's management team, led by CEO and Michael Zacharski, Global President Paul Chang and CFO Bill Williams, will continue to lead the public company following the Business Combination.
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MOVE | Hot Stocks18:34 EDT Movano's Evie Ring pulse oximeter exceeds FDA accuracy guidelines - Movano Health has completed another hypoxia trial with the University of California, San Francisco yielding new blood oxygen saturation data, confirming the accuracy of its Evie Ring pulse oximeter exceeds the FDA guidelines. The Evie Ring entered commercial production in late 2023 as a consumer wellness device. This latest UCSF study, completed in Q1, used the production model ring, which reflected several design improvements from the pre-commercial model used in the earlier study and will be submitted to FDA and sold under the brand name Evie Med. During the second trial, the four Evie Rings achieved a root mean square error average of 2.46%, which was once again well below the FDA guidance of 3.5% for SpO2. Additionally, the Evie Ring's accuracy exceeded that of the two commercially available, hospital-grade reference pulse oximeters in the study. The company plans to address the outstanding FDA comments from August 2023 for the Evie Med Ring in April 2024 and present the corroborating data from Q1 clinical study. Movano Health expects to receive a decision regarding its 510(k) clearance in July.
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LDOS | Hot Stocks18:20 EDT Leidos director Fubini sells 7,874 common shares - In a regulatory filing, Leidos Holdings director David Fubini disclosed the sale of 7,874 common shares of the company on March 13 at a price of $127.8853 per share.
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THQQF | Hot Stocks18:14 EDT Embracer Group to sell select assets from Saber Interactive for $247M - Embracer Group has entered into an agreement to divest selected assets, from the operative group Saber Interactive for a purchase price of $247M, including assumed earnout liabilities of $44M but before any additional consideration. Through this divestment, Embracer ceases all operations in Russia, while immediately improving cash flow, reducing capex, net debt and future liabilities. The buyer is Beacon Interactive, a company controlled by Saber Interactive co-founder Matthew Karch. "I am pleased that we have found a win-win solution for Embracer and the parts of Saber that now will leave us. This transaction puts both companies in a stronger position to thrive going forward. Embracer is now able to discontinue all operations in Russia, according to a previous board decision, while safeguarding many developer jobs under new independent ownership. At the same time, we keep key companies, valuable IPs and future publishing rights. Cash flow is immediately improved, and we remain committed to reducing net debt. The transaction yields additional headroom to amortize debt in accordance with existing bank agreements and will improve financial flexibility. This is the first transaction of the previously mentioned structured processes and marks a small but important step in our journey to transform Embracer into the future for the benefit of all employees, gamers, and shareholders," says Lars Wingefors, co-founder and Group CEO of Embracer. Furthermore, Embracer will be entitled to an additional consideration of up to $94M if the Buyer resells the assets for a higher consideration subject to certain conditions and time periods. The divested assets include 38 ongoing game development projects, amounting to a book value of around SEK2.3B. The divested assets also include certain proprietary engine technology and game tools relating to the divested companies.
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DJCO | Hot Stocks18:06 EDT Daily Journal Corp receives expected non-compliance letter from Nasdaq - As previously announced on December 1, 2023, due to the death of director Charles T. Munger, Daily Journal Corporation notified the Nasdaq Stock Market that the company's audit committee has only two members, which is contrary to Nasdaq Listing Rule 5605(c)(2)(A)'s requirement that listed companies have an audit committee of at least three members. On March 13, 2024, the company received a letter from Nasdaq indicating that the company has a cure period in order to regain compliance as follows: until the earlier of the company's next annual shareholders' meeting or November 28, 2024; or if the next annual shareholders' meeting is held before May 27, 2024, then the company must evidence compliance no later than May 27, 2024. The company intends to fill the vacancy on the company's board of directors and audit committee with a qualified individual who meets the criteria of the Nasdaq listing rules in advance of the compliance deadline.
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ADBE | Hot Stocks17:41 EDT Adobe sees Q2 tax rate 18.5% - Says not updating FY24 targets on this call. Sees Q2 digital media annual recurring revenue $440M. Says experienced particular strength in enterprise segment. Says pleased with strong Q1. Says FY24 is off to strong start. Says focused on expanding access to users. Says creative cloud pricing and enterprise monetizing in line with expectations. Says still in user acquisition mode. Comments and guidance taken from Q1 earnings conference call.
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AQST | Hot Stocks17:33 EDT Aquestive Therapeutics' Anaphylm meets endpoints in Phase 3 allergy study - Aquestive Therapeutics released positive topline clinical data from its Phase 3 pivotal pharmacokinetic clinical study of Anaphylm Sublingual Film and findings from the FDA Type C meeting. Anaphylm is the company's first and only orally administered epinephrine prodrug product candidate under development for the treatment of severe life-threatening allergic reactions, including anaphylaxis. The primary endpoint was to compare the PK of epinephrine following the single administration of Anaphylm to the single administration of Adrenalin and autoinjectors in healthy adult subjects. The secondary endpoints included evaluating PK sustainability following repeat administration and the safety and tolerability following single and repeat administrations vs. epinephrine. Anaphylm time to maximum concentration was consistently faster than autoinjectors and its exposure levels were comparable to autoinjectors for 30 minutes after dosing. Anaphylm was consistently well tolerated with no SAEs. The company also completed a Type C meeting with the FDA in which the FDA indicated that the company has "adequately addressed" the FDA's previous concerns by removing product hold time from the administration instructions and provided additional information on how to characterize emesis in the Company's NDA submission. The company will execute this study in Q2. This study will replace the cpreviously planned angioedema study. The FDA reserved judgement on the sufficiency of the Anaphylm clinical development program until completion of ongoing and planned studies, the results of which are expected to be presented at the pre-NDA meeting. The next anticipated meeting with the FDA is the pre-NDA meeting targeted for the second half of 2024. Aquestive's goal is to file the NDA with the FDA before year end 2024.
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WPM | Hot Stocks17:21 EDT Wheaton Precious Metals sees 2029-2033 average production over 850K gold eq. oz.
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WPM | Hot Stocks17:19 EDT Wheaton Precious Metals sees 2024 production 550K-620K gold eq. oz. - 2023 production was 584,389 gold equivalent ounces.
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WPM | Hot Stocks17:13 EDT Wheaton Precious Metals increases dividend 0.5c to 15.5c pe share - Wheaton Precious Metals has declared its first quarterly cash dividend payment for 2024 of 15.5c per common share, an increase from the fourth quarterly cash dividend payment for 2023 of 15c per common share. The first quarterly cash dividend for 2024 will be paid to holders of record of Wheaton common shares as of the close of business on April 3, and will be distributed on or about April 15, 2024. The ex-dividend trading date is April 2.
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TRP | Hot Stocks17:03 EDT TC Energy to sell Prince Rupert Gas Transmission entities - TC Energy has entered into a binding letter agreement with Nisga'a Nation and Western LNG regarding the purchase and sale of all outstanding shares in Prince Rupert Gas Transmission Holdings and the limited partnership interests in Prince Rupert Gas Transmission, or PRGT. PRGT is a wholly owned subsidiary of TC Energy and the developer of a natural gas pipeline project in British Columbia. TC Energy's strategic priorities are focused on staying within its $6B-$7B annual net capital expenditure limit. As part of the letter agreement, TC Energy has committed to provide transition services, on a reimbursable basis, to facilitate the seamless transition of the pipeline project and support development work planned for this year. Subject to the execution of definitive agreements and customary closing conditions, the transaction is expected to close in Q2. Initial proceeds from the transaction are not expected to be material to TC Energy, with the potential to receive additional payments contingent upon the project achieving final investment decision and commercial operation.
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EIG | Hot Stocks16:51 EDT Employers Holdings chair Michael McSally to step down, Jeanne Mockard to succeed - Employers Holdings announced that the chair of its board of directors, Michael McSally, will be stepping down as board chair. The board of directors has unanimously elected board member Jeanne Mockard as the incoming board chair, effective March 20.
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WW | Hot Stocks16:50 EDT WW says on track to beat previously provided Q1 subscriber guidance - In a regulatory filing, WW disclosed that, in a communication to employees on March 14, the company said it is on track to beat its previously provided Q1 FY24 guidance for end of period Clinical subscribers.
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MDGL | Hot Stocks16:45 EDT Madrigal Pharmaceuticals trading resumes
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RDUS | Hot Stocks16:44 EDT Radius Recycling says half of cost efficiency benefits to be achieved in Q3 - During the second quarter, the company implemented a plan to reduce selling, general and administrative expense by 10% and increase production cost efficiencies to deliver $40M in aggregate annual benefits, which are in addition to the $30M in annual benefits previously announced that were substantially implemented in the second quarter. The new measures include reductions in headcount and other employee-related expenses, as well as decreases in non-trade procurement spend, transportation and logistics, and other outside services. Approximately half of the targeted quarterly run-rate benefits from these initiatives are expected to be achieved in the third quarter, with substantially all of the remainder by the end of the fiscal year. The Company expects to incur related restructuring charges and other exit-related costs in the range of $6 million, of which $3 million are expected to be incurred during the second quarter. The company continued, "Scrap supply flows should improve with normal seasonality and benefit as U.S. interest rates decline and global manufacturing activity recovers. On the demand side, decarbonization trends continue to be a positive driver for our products and services. Many low carbon technologies are more metal intensive than the technologies they are replacing and recycled metals require less carbon to produce than mined metals. With our 100+ operating facilities producing recycled ferrous volumes of over four million tons and nonferrous volumes of over 700 million pounds annually, our low carbon and net zero carbon emission GRNTM finished steel products, and our 3PRTM service and supply chain solution that enables our customers to increase their recycling rates, we are well-positioned to benefit from market improvements and these positive structural demand trends."
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IGT | Hot Stocks16:38 EDT International Game's IGT PlayDigital content now live in Rhode Island - International Game's IGT PlayDigital iGaming content library is now available in Rhode Island via the Bally Casino Rhode Island app and on BallyCasino.com. This content deployment makes IGT PlayDigital one of only two suppliers to offer content in all seven U.S. online gaming jurisdictions.
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MDGL | Hot Stocks16:37 EDT Madrigal to resume trading at 4:45 PM ET after FDA approval
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CL | Hot Stocks16:36 EDT Colgate-Palmolive raises quarterly dividend to 50c per share from 48c - The Board of Directors of Colgate-Palmolive Company increased the quarterly common stock cash dividend to 50c per share, up from 48c per share. The increase will be effective in the second quarter, 2024. The Board declared that the second quarter dividend is to be paid on May 15, 2024 to shareholders of record as of April 22, 2024. On an annualized basis, the new dividend rate is $2.00 versus $1.92 per share previously. The Company has paid uninterrupted dividends on its common stock since 1895.
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SRI | Hot Stocks16:35 EDT Stoneridge appoints Troy Cooprider as Chief Technology Officer - Stoneridge appointed Troy Cooprider to the position of Chief Technology Officer. Cooprider most recently served as VP of global technology at Stoneridge. He joined Stoneridge in 2020 as VP of advanced engineering and engineering excellence to lead the development and execution of its next-generation electronics systems. Before that, he served as executive director of engineering at Aptiv.
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ISRG | Hot Stocks16:35 EDT FDA clears Intuitive Surgical's 'fifth-generation robotic' da Vinci 5 - Intuitive announced that the U.S. Food and Drug Administration FDA provided 510k clearance for da Vinci 5, the company's next-generation multiport robotic system."We are pleased to receive FDA clearance for our fifth-generation robotic system, da Vinci 5," said Gary Guthart, CEO. "Intuitive is committed to meaningful improvements in surgery that enable better patient outcomes, enhance the patient and care team experiences, and ultimately lower the total cost of care. After more than a decade of careful research, design, development, and testing, we believe da Vinci 5 will deliver on these goals and help drive the future of robotic-assisted surgery." Da Vinci 5 builds on Intuitive's da Vinci Xi's highly functional design, which surgeons and care teams around the world have used in more than 7 million procedures to date.
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WPC | Hot Stocks16:32 EDT W.P. Carey increases quarterly dividend to 86.5c per share - W. P. Carey increased its quarterly cash dividend to 86.5c per share, equivalent to an annualized dividend rate of $3.46 per share. The dividend is payable on April 15 to stockholders of record as of March 28.
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CXM | Hot Stocks16:30 EDT Sprinklr, Tech Mahindra partner over AI-first customer experience platform - Sprinklr announced a strategic partnership with a leading provider of digital transformation, consulting, and business re-engineering services and solutions, Tech Mahindra. Tech Mahindra and Sprinklr together will implement an AI-first customer experience management platform that delivers unified services across touchpoints and focus on go-to-market strategies. After collaborating on joint implementations in Europe, the two organizations have decided to formalize and expand their relationship globally. The partnership will empower enterprises to better manage customer journeys across customer service, social media, sales, and marketing.
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ALLO | Hot Stocks16:29 EDT Allogene Therapeutics sees $190M reduction in cash in 2024 - The Company expects a decrease in cash, cash equivalents, and investments of approximately $190 million in 2024. Based on current assumptions, the Company continues to expect its cash runway to fund operations into 2026. GAAP Operating Expenses are expected to be approximately $280 million, including estimated non-cash stock-based compensation expense of approximately $60 million. These estimates exclude any impact from potential business development activities.
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BGNE | Hot Stocks16:28 EDT BeiGene receives FDA approval for Tevimbra - BeiGene announced that the U.S. Food and Drug Administration has approved TEVIMBRA as monotherapy for the treatment of adult patients with unresectable or metastatic esophageal squamous cell carcinoma after prior systemic chemotherapy that did not include a PD-(L)1 inhibitor. TEVIMBRA will be available in the U.S. in the second half of 2024. "Today's FDA approval of TEVIMBRA for patients with ESCC who have previously received chemotherapy, along with its ongoing review of our BLA for first-line ESCC patients, represents a significant step in our commitment to bringing this therapy to more patients around the world," said Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeiGene. "As BeiGene's first drug candidate produced through our immuno-oncology program and second approved medicine in the U.S., TEVIMBRA is poised to be a critical pillar of our solid tumor development program, which spans more than 17 registration-enabling clinical trials in more than 30 countries across regions globally."
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MDGL | Hot Stocks16:27 EDT Madrigal announces FDA accelerated approval of Rezdiffra - Madrigal Pharmaceuticals announced that the U.S. Food and Drug Administration has granted accelerated approval for Rezdiffra, or resmetirom, in conjunction with diet and exercise for the treatment of adults with noncirrhotic nonalcoholic steatohepatitis, or NASH, with moderate to advanced liver fibrosis consistent with stages F2 to F3 fibrosis. Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. Bill Sibold, Chief Executive Officer of Madrigal, stated, "NASH with moderate to advanced liver fibrosis is a serious and progressive liver disease that, until now, has not had an FDA-approved therapy. The accelerated approval of Rezdiffra is a culmination of more than 15 years of research from our founder Dr. Becky Taub and a small R&D team that took on one of the biggest challenges in drug development. This is a historic moment for the NASH field and represents the best of what our industry is capable of. We're excited to deliver Rezdiffra to patients in need." MAESTRO-NASH remains ongoing as an outcomes study designed to generate confirmatory data that, if positive, will help verify clinical benefit and may support full approval. A second ongoing outcomes trial is evaluating progression to liver decompensation events in patients with well-compensated NASH cirrhosis treated with Rezdiffra versus placebo. Rezdiffra is expected to be available to patients in the U.S. in April and will be distributed through a limited specialty pharmacy network. "Madrigal is committed to helping appropriate patients who may benefit from Rezdiffra access the medication through the Madrigal Patient Support program. This program is designed to help patients navigate insurance and affordability challenges and provide co-pay support for eligible patients. Madrigal has also established a patient assistance program to help patients with no insurance access Rezdiffra," the company stated. Madrigal will host a conference call and webcast today at 5:15 PM ET to discuss the accelerated approval of Rezdiffra.
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NUVB | Hot Stocks16:24 EDT Nuvation Bio doses first patient in Phase 1/2 study of NUV-1511 - Nuvation Bio announced that the first patient has been dosed in a Phase 1/2 study of NUV-1511, the Company's first DDC to enter the clinic. "Dosing the first patient with NUV-1511 marks a significant milestone for our proprietary DDC platform, from which we are developing potent oncology-focused chimeric small molecules designed to selectively deliver anti-cancer therapeutics to cancer cells, while mitigating effects on healthy non-target tissues," said David Hung, M.D., Founder, President, and Chief Executive Officer of Nuvation Bio. "DDCs are the core technology upon which the Company was founded and we are excited to bring our first DDC clinical candidate to patients." The dose escalation portion of the study employs a flexible design that allows for the potential to explore two dosing schedules for NUV-1511 with the goal of establishing the recommended Phase 2 dose. The study will initially evaluate safety and tolerability, pharmacokinetic profile, and assess for signs of clinical activity in patients with advanced solid tumors who previously received and progressed on or after treatment with Enhertu and/or Trodelvy per approved U.S. Food and Drug Administration (FDA) labeling, human epidermal growth factor receptor 2-negative (HER2-) metastatic breast cancer, metastatic castration-resistant prostate cancer (mCRPC), advanced pancreatic cancer, and platinum-resistant ovarian cancer (PROC).
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ADBE | Hot Stocks16:22 EDT Adobe board approves up to $25B stock repurchase plan - Adobe announced that its board of directors has approved a new stock repurchase authorization, granting the company authority to repurchase up to $25 billion in common stock through March 14, 2028. Under the program, which is designed to return value to Adobe's stockholders, minimize dilution from stock issuances, and reduce share count over time, the company may repurchase shares in the open market and enter into structured repurchase agreements with third parties. "Our new $25 billion share repurchase authorization underscores what a special company Adobe is, with the profitability and cash flows to drive growth and invest in innovation while returning significant capital to our shareholders," said Dan Durn, executive vice president and CFO, Adobe.
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LRMR | Hot Stocks16:21 EDT Larimar Therapeutics provides update on nomlabofusp development - In March, the first patient in the OLE study evaluating daily subcutaneous injections of 25 mg of nomlabofusp self-administered or administered by a caregiver was dosed. Participants who completed treatment in the Phase 2 dose exploration trial, or who previously completed a prior clinical trial of nomlabofusp, are potentially eligible to screen for the OLE study. The OLE study will evaluate the safety and tolerability, pharmacokinetics, and frataxin levels in peripheral tissues as well as other exploratory pharmacodynamic markers following long-term subcutaneous administration of nomlabofusp. Clinical assessments collected during the trial will be compared to data from a matched control arm derived from participants in the Friedreich's Ataxia Clinical Outcome Measures Study, or FACOMS, database. Interim data is expected in Q4 2024. To potentially escalate dose in the OLE study, data from the 50 mg cohort of the Phase 2 study, as well as available data from the 25 mg dose in the OLE study will be submitted for FDA review due to continued partial clinical hold. Ben-Maimon continued, "On the regulatory front, we are continuing discussions with the FDA on the potential use of frataxin as a novel surrogate endpoint to support accelerated approval. We are also beginning to plan for a global double-blind placebo-controlled confirmatory study expected to be initiated prior to a potential BLA submission. The BLA submission is targeted for the second half of 2025. We believe our clinical datasets supporting nomlabofusp's differentiated mechanism of action, coupled with our strengthened balance sheet and expected runway into 2026, strongly position us for execution of our upcoming pivotal milestones designed to help address the urgent unmet needs of the FA community."
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UDR | Hot Stocks16:19 EDT UDR CIO Alcock to retire - UDR announced that Harry G. Alcock, Senior Vice President and Chief Investment Officer, will retire from the role of CIO effective July 31, 2024, at which time he will transition to a consulting role with a focus on transactions. H. Andrew Cantor, UDR's Senior Vice President - Acquisitions and Dispositions, will continue to oversee the Company's transactions platform, as he has for the last 12 years of his more than 14-year tenure with UDR. Bob McCullough, UDR's Senior Vice President - Development, will continue to oversee the Company's development platform, as he has during his 11-year tenure with UDR. "Harry has been with UDR for more than 13 years and I have had the pleasure of working closely with him for approximately 30 years during our careers," said Tom Toomey, UDR's Chairman and Chief Executive Officer. Mr. Toomey continued, "Harry has been a trusted partner and his contributions to the Company have helped UDR thoughtfully and accretively grow from an $8 billion enterprise in 2010 to a $20 billion enterprise today. I am thankful that UDR and its investors have benefitted from Harry's expertise, and we wish Harry well in his retirement."
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LAW | Hot Stocks16:18 EDT CS Disco board approves $20M share repurchase authorization - CS Disco announced that its Board of Directors has approved a share repurchase program authorizing the company to repurchase up to $20M of its outstanding shares of common stock. "We believe DISCO's shares are undervalued and this repurchase program is a prudent use of capital that underscores our commitment to enhancing stockholder value," said Scott Hill, Chief Executive Officer of DISCO.
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TCBX | Hot Stocks16:16 EDT Third Coast Bancshares announces conversion to state-chartered bank - Third Coast Bancshares announced that the Bank has successfully converted its charter from a Texas state savings bank to a Texas banking association. The strategic charter conversion became effective on March 13.
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INTS | Hot Stocks16:11 EDT Intensity Therapeutics says cash sufficient to fund operations through 1Q25 - As of December 31, 2023, cash, cash equivalents and marketable debt securities totaled $14.8M, which the company expects will be sufficient to fund operations through the end of the first quarter in 2025. "We had a pivotal year in 2023 culminating with the receipt of an FDA 'Study May Proceed' letter to enter into Phase 3 clinical trials for our lead drug candidate, INT230-6 for metastatic soft tissue sarcoma," said Lewis Bender, Founder, President and CEO. "Our selection this year by the review committees at ASCO, CTOS and SABCS, including oral podium presentations, validated our science and indicated interest by oncologists in our results. We are on track to initiate our Phase 3 sarcoma study in mid-2024. Following our IPO, our cash position remains strong, and we believe we have sufficient runway to meet near term milestones."
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SMAR | Hot Stocks16:09 EDT Smartsheet CRO Arntz, CMO Bennett to step down - Smartsheet announced a series of strategic changes to its executive team as the company enters its post-$1B annualized recurring revenue growth phase. Mike Arntz, currently Chief Revenue Officer, will retire on March 31st after seven and a half years with Smartsheet. Arntz will serve as an advisor to the company until mid-May to support Long in a successful transition. Andrew Bennett, currently Chief Marketing Officer, will close out his almost ten-year tenure at Smartsheet on March 15th when he steps down to pursue an opportunity outside of Smartsheet. "As we look ahead, we have an incredible opportunity to empower everyone, everywhere to drive meaningful business results," said Mark Mader, CEO of Smartsheet. "With these new appointments, we have the right team in place to execute our strategy to durably grow and bring enterprise-grade work management solutions to the world's most demanding organizations."
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TRIN | Hot Stocks16:08 EDT Trinity Capital increases dividend 2.0% to 51c per share - Trinity Capital declared a cash dividend of 51c per share with respect to the quarter ending March 31, 2024. This dividend represents an increase of 2.0% over the regular dividend declared in the prior quarter. The dividend will be paid on April 15 to those shareholders on record March 28.
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ALLK | Hot Stocks16:07 EDT Allakos says restructuring extends cash runway into mid-2026 - The Company expects that the restructuring activities will extend the cash runway into mid-2026. The Company ended the fourth quarter of 2023 with approximately $170.8M in cash, cash equivalents and investments. The Company's outlook for 2024 cash, cash equivalents and investments is as follows: Cash, cash equivalents and investments at year end 2023 is $171M
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KMT | Hot Stocks16:07 EDT Kennametal says Sanjay Chowbey to succeed Christopher Rossi as CEO - Kennametal announced that Sanjay Chowbey, currently Vice President, Kennametal and President, Metal Cutting Segment, will succeed Christopher Rossi as President & CEO. Rossi has decided to retire from the company after nearly seven years as CEO, effective May 31. Chowbey was unanimously appointed by the Board of Directors as Rossi's successor, effective June 1. Rossi will continue to serve on the company's Board of Directors until his retirement, at which time Chowbey will join the Board. Rossi and Chowbey will work together to ensure a seamless transition. Chowbey joined Kennametal in 2021 as President of the Metal Cutting segment. Under his leadership the business has grown its customer base, consistently delivered sales growth, expanded its operating margins, launched more than 20 new products and improved employee engagement. The Company has launched a search for Chowbey's Metal Cutting successor, considering both internal and external candidates. Chowbey will also continue in his current role during this transition period until he officially steps into the CEO role.
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CODX | Hot Stocks16:03 EDT Co-Diagnostics reports cash, equivalents of $58.5M as of December 31, 2023 - "We are pleased to have made great progress towards our strategic goals in the fourth quarter, highlighted by an Emergency Use Authorization submission to the FDA for our Co-Dx PCR Pro instrument, mobile app, and COVID-19 test," said Dwight Egan, Co-Diagnostics' CEO. "We believe that our EUA submission will serve as a steppingstone in our effort to decentralize PCR diagnostics and to expand to the point-of-care and at-home settings. Co-Diagnostics' investment in additional production capacity in Salt Lake City also includes the manufacturing of our Co-Primers in-house, to lower costs. We are currently building expanded capacity for test cup and instrument manufacturing lines in India as well, in addition to capability to support Co-Primers manufacturing in the near future." "We remain excited for 2024 and look forward to providing updates on our test development and platform. Co-Diagnostics plans to continue the development of our TB, multiplex respiratory, and HPV tests throughout the year," said Brian Brown, Co-Diagnostics' CFO.
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GERN | Hot Stocks15:56 EDT Geron reports FDA advisors vote in favor of benefit/risk of imetelstat - Geron announced that the U.S. Food and Drug Administration (FDA) Oncologic Drugs Advisory Committee, or ODAC, voted 12 to 2 in favor of the clinical benefit/risk profile of imetelstat for the treatment of transfusion-dependent anemia in adult patients with low-to-intermediate-1 risk myelodysplastic syndromes who have not responded to or have lost response to or are ineligible for erythropoiesis-stimulating agents. "We are pleased with the Committee's decision to recognize the positive clinical benefit/risk profile of imetelstat for the treatment of transfusion-dependent anemia in adult patients with lower-risk MDS. There are few treatment options and significant unmet medical need remains for these patients, particularly among those with difficult-to-treat subtypes of this blood cancer. We believe that imetelstat has the potential to be an important new medicine for patients and look forward to continuing our collaboration with the FDA as they complete their review of our New Drug Application," said Faye Feller, M.D., Geron's Executive Vice President, Chief Medical Officer. The FDA assigned a Prescription Drug User Fee Act, or PDUFA, target action date of June 16 for Geron's New Drug Application for imetelstat for the treatment of TD anemia in adult patients with low- to intermediate-1 risk myelodysplastic syndromes, who have failed to respond, or have lost response to, or are ineligible for ESAs. "The ODAC provides the FDA with independent opinions and recommendations from outside medical experts, patients and caregivers, though the recommendations are not binding. Geron plans to commercially launch imetelstat in the U.S. upon potential FDA approval," the company stated.
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MDGL | Hot Stocks15:47 EDT FDA approves Madrigal Pharmaceuticals' Rezdiffra - The FDA granted approval to Madrigal Pharmaceuticals' Rezdiffra, a thyroid hormone receptor-beta agonist, in conjunction with diet and exercise for the treatment of adults with noncirrhotic nonalcoholic steatohepatitis, or NASH, with moderate to advanced liver fibrosis consistent with stages F2 to F3 fibrosis. "This indication is approved under accelerated approval based on improvement of NASH and fibrosis. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials," the FDA label stated. Reference Link
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MDGL | Hot Stocks15:29 EDT Madrigal Pharmaceuticals trading halted, news pending
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GNS | Hot Stocks14:30 EDT Genius Group LTD trading resumes
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GNS LZGI | Hot Stocks14:13 EDT Genius Group completes FatBrain AI merger - Genius Group (GNS) and FatBrain AI (LZGI), an AI SaaS and Solutions company, announced completion of their merger to form "an AI-powered Education and Acceleration group to power Sovereign AI ecosystems of tomorrow for entrepreneurs, enterprises, governments and students through AI education and enablement." Following NYSE approval, Genius Group completed the merger, acquiring FatBrain AI in an all-stock transaction. Under the terms of the agreement, Genius Group has acquired the AI software assets, customer relationships and specific operations of FatBrain AI, with an anticipated increase of approximately 150% in the company's 2023 pro forma revenue guidance to an estimated $76M-$80M, and an anticipated increase of $4M in pro forma net profit guidance to $7M-$9M. Roger Hamilton, CEO of Genius Group said: "The demand for AI and entrepreneurial skills continues to grow. Countries and cities around the world are seeing these skills as increasingly vital to be competitive in the age of AI. The desire for Sovereign AI institutions where countries, cities and companies can own their own data and build their own AI platform calls for localized education platforms. While 'Smart Cities' have been defined by the use of smart technology, our 'Genius City' model calls for upskilled humans alongside smart technologies and puts personalized education and peer intelligence at the heart of driving growth."
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EA | Hot Stocks14:05 EDT EA's 'Apex Legends' team hit with layoffs - Aaron Stump, level designer at Electronic Arts' Respawn studio, said in a post on X, formerly Twitter, that the "Apex Legends" team was hit with layoffs on Thursday. "It sucks seeing some of the people I've worked with for almost 3 years now get let go," Stump said. "Hopefully, they land on their feet sooner rather than later." Reference Link
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BGNE | Hot Stocks14:04 EDT BeiGene gets approval for Tevimbra BLA - The FDA granted approval for the biologics license application, or BLA, submitted by BeiGene U.S.A. for Tevimbra injection, for intravenous use, according to a letter posted to the agency's website. Reference Link
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GNS | Hot Stocks14:03 EDT Genius Group LTD trading halted, news pending
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GEHC | Hot Stocks13:31 EDT GE HealthCare renews collaboration with Hartford HealthCare - GE HealthCare and Connecticut-based Hartford HealthCare announced that they have renewed a seven-year collaboration that began in 2016 to now extend through 2030. "Hartford HealthCare will upgrade its imaging technology using a phased approach to the acquisition, deployment and redeployment of essential equipment like CT, PET/CT, MRI, X-ray, nuclear medicine, mammography, ultrasound and OEC 3D surgical imaging C-arm, keeping Hartford HealthCare's imaging technologies current with the latest advancements in software, artificial intelligence and future innovations. The collaboration will increase patients' access to GE HealthCare's most current imaging technology, and may provide shorter scan times, reduced waiting times for care, and enable clinicians to have greater accuracy in diagnostic assessments. The agreement also includes GE HealthCare patient monitoring, anesthesia, maternal infant care and diagnostic cardiology technologies," the company stated.
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ALK | Hot Stocks13:21 EDT Alaska Airlines technicians ratify new five-year contract - Alaska Airlines' aircraft maintenance technicians, maintenance controllers and other employees who support aircraft maintenance and are represented by the Aircraft Mechanics Fraternal Association have ratified a new five-year contract. The agreement, which was negotiated in 12 months, includes significant improvements such as increased pay, retirement contribution increases, and quality of life improvements. With this recently closed deal, Alaska Airlines has ratified seven contracts across six represented groups since 2022.
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BAESY | Hot Stocks13:02 EDT BAE Systems awarded $86M contract by U.S. Navy - The U.S. Navy has awarded BAE Systems a contract worth approximately $86M to continue supporting its Mobile Deployable Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance programs. The five-year contract from the U.S. Naval Air Systems Command's Naval Air Warfare Center Aircraft Division Webster Outlying Field Special Communications Mission Solutions Division will involve the company providing engineering and technical services for new and legacy MDC5ISR systems and platforms.
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CMCSA... | Hot Stocks12:22 EDT FCC adopts rule requiring cable companies show 'all-in' price - Federal Communications Commission adopted a rule that will require cable and satellite TV providers to specify the "all-in" price for video programming services in promotional materials and on subscribers' bills. "No one likes surprises on their bill. The advertised price for a service should be the price you pay when your bill arrives. It shouldn't include a bunch of unexpected junk fees," FCC Chairwoman Jessica Rosenworcel said.
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FF | Hot Stocks12:20 EDT FutureFuel trading resumes
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CGEM | Hot Stocks12:16 EDT Cullinan Oncology announces departure of CFO Jeff Trigilio - Cullinan Oncology announced this morning that its Chief Financial Officer Jeff Trigilio will depart the company effective March 29. Following his departure, Trigilio agreed to support the company through a transition period.
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DKS | Hot Stocks12:00 EDT Dick's Sporting rises 13.3% - Dick's Sporting is up 13.3%, or $24.98 to $212.74.
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BBW | Hot Stocks12:00 EDT Build-A-Bear rises 16.8% - Build-A-Bear is up 16.8%, or $4.20 to $29.20.
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EGY | Hot Stocks12:00 EDT Vaalco Energy rises 17.5% - Vaalco Energy is up 17.5%, or 78c to $5.24.
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NOVA | Hot Stocks12:00 EDT Sunnova Energy falls -12.7% - Sunnova Energy is down -12.7%, or -59c to $4.06.
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UAA | Hot Stocks12:00 EDT Under Armour falls -12.7% - Under Armour is down -12.7%, or -$1.03 to $7.07.
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S | Hot Stocks12:00 EDT SentinelOne falls -14.5% - SentinelOne is down -14.5%, or -$4.05 to $23.89.
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SATS | Hot Stocks11:45 EDT EchoStar says all 2023 FCC 5G commitments complete after nationwide drive test - EchoStar Corporation filed a letter with the Federal Communications Commission certifying that its nationwide 5G network provides download speeds of 35 Mbps or greater to over 70 %of the U.S. population, the company announced. This certification follows the successful completion of a nationwide drive test, fulfilling the final element of EchoStar's 2023 deployment commitments to the FCC. The drive test, conducted using an FCC-approved methodology and overseen by an independent monitor, is the third and final component of EchoStar's 2023 Nationwide 5G Deployment Commitment to the FCC, the company stated. "Today marks another milestone as we continue to build the world's first commercial-grade Open RAN 5G network and provide Americans with more options for wireless service. This drive test confirms the Boost Wireless Network is delivering high-quality service to our customers. It's a major achievement for our team who built our Open RAN network in record time," said John Swieringa, president of technology and COO, EchoStar.
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ATI | Hot Stocks11:37 EDT ATI appoints Vaishali Bhatia as general counsel, CCO - ATI has named Vaishali Bhatia Senior Vice President, General Counsel and Chief Compliance Officer, effective March 20, 2024. She'll lead all aspects of the legal function for the aerospace and defense company-including corporate governance, compliance, corporate social responsibility strategies and reporting, and risk management-and collaborate closely with business teams to provide risk-based legal partnership. Bhatia reports to ATI Board Chair and CEO Robert Wetherbee and serves on the company's Executive Council. Bhatia succeeds ATI Chief Legal and Compliance Officer Elliot Davis, who announced his intention to retire effective October 1, 2024. Until that time, Davis will serve as Special Advisor, Legal and Compliance, to ensure a smooth transition. Bhatia joins ATI from HF Sinclair Corporation, where she's served as Executive Vice President since 2023, and General Counsel and Corporate Secretary since 2019.
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MINM | Hot Stocks11:27 EDT Minim Inc trading resumes
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MINM | Hot Stocks11:22 EDT Minim Inc trading halted, volatility trading pause
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GROM | Hot Stocks11:19 EDT Grom Social Enterprises enters Letter of Intent to acquire Arctic7 - Arctic7, which provides a suite of full game and co-development services together with own intellectual property development within gaming, and virtual production services for the movie and TV industry, has announced it has agreed to be acquired by Grom Social Enterprises. Grom CEO Darren Marks said: "Grom welcomes the opportunity to bring Arctic7 into the Grom portfolio to further fuel Arctic7's vision of offering both gaming and virtual production capabilities, while together, we explore integrating Arctic7's expertise into our expanding entertainment ecosystem. Content collaboration, cross-promotional opportunities, product licensing, brand partnerships, merchandising, interactive experiences, educational gaming initiatives, and much more are at the heart of this partnership." "Upon completion of the acquisition, Arctic7 will operate as a division within Grom and will continue to execute against its current strategy of delivering exciting and engaging experiences for players and partners. In the coming weeks and months, Grom and Arctic7 intend to explore partnership opportunities and titles presented by the Grom acquisition," Arctic7 stated.
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ZJYL | Hot Stocks11:06 EDT Jin Medical International Ltd trading resumes
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JPM | Hot Stocks11:06 EDT Fed issues enforcement action against JPMorgan Chase, issues $98M in fines - The Federal Reserve Board issued an enforcement action against JPMorgan Chase and fined the firm approximately $98.2M for an inadequate program to monitor firm and client trading activities for market misconduct. The Board's action requires JPMorgan Chase to review and take corrective action to address the firm's inadequate monitoring practices, which occurred between 2014 and 2023. The Board's action was taken in coordination with the Office of the Comptroller of the Currency. The penalties announced by the Board and the Office of the Comptroller of the Currency total approximately $348.2M, the Fed stated. Reference Link
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JPM | Hot Stocks11:03 EDT OCC assesses $250M civil money penalty against JPMorgan Chase Bank - The Office of the Comptroller of the Currency, or OCC, announced a $250M civil money penalty against JPMorgan Chase Bank related to deficiencies in its trade surveillance program. "The OCC found that JPMC operated with gaps in trading venue coverage and without adequate data controls required to maintain an effective trade surveillance program. Generally, trading venues are systems or electronic platforms, operated by investment firms or market operators, that bring together multiple third party buying or selling interests in financial instruments to perform a transaction. The OCC expects banks to perform trade surveillance to monitor the market conduct of its traders and clients as part of its market conduct risk control framework. The OCC found that JPMC failed to surveil billions of instances of trading activity on at least 30 global trading venues. These gaps and deficiencies in JPMC's trade surveillance program constitute unsafe or unsound banking practices. The OCC also issued a cease and desist order requiring JPMC to take broad and comprehensive corrective actions to improve its trade surveillance program," the regulator stated. Reference Link
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ZJYL | Hot Stocks11:01 EDT Jin Medical International Ltd trading halted, volatility trading pause
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MDGL | Hot Stocks10:30 EDT AASLD tells Bloomberg release citing Madrigal approval issued in error - AASLD tells Bloomberg that the organization has no knowledge of any FDA approval for Madrigal Pharmaceuticals' resmetirom.
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DG | Hot Stocks10:25 EDT Dollar General doesn't see repurchasing common stock this year - Kelly Dilts, Chief Financial Officer of Dollar General, stated on the company's earnings call, according to a transcript: "Finally, to support reducing our debt leverage ratio, and maintaining our current investment-grade credit ratings, we do not plan to repurchase common stock this year under our board authorized repurchase program, although as I mentioned, share repurchases remain a part of our future capital allocation strategy. Although our leverage ratio is currently above our target of approximately three times adjusted debt-to-adjusted EBITDAR, we are focused on improving our debt metrics in support of our commitment to our current investment-grade credit ratings which as a reminder, our triple B and BAA too. Cash generation is always important and we are focused on further improving cash flow as we move through 2024. We believe these actions, which are aligned with our capital allocation priorities, will continue to strengthen our overall financial position for 2024 and beyond."
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MO | Hot Stocks10:16 EDT Altria Group trading resumes
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FF | Hot Stocks10:15 EDT FutureFuel trading halted, news pending
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NYCB | Hot Stocks10:14 EDT New York Community completed sale of consumer loans with $899M book value - In a regulatory filing, New York Community Bancorp disclosed that on February 29, the company sold the commercial co-operative loan classified as held for sale at a gain. Additionally, on March 13, the company completed a sale of consumer loans with a net book value of $899M. These two sales will be recorded in the quarter ended March 31 and will result in a net gain, the company stated in its 10-K annual report filing. Reference Link
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MDGL | Hot Stocks10:09 EDT AASLD says Madrigal Pharmaceuticals' MASH therapy resmetirom approved - The American Association for the Study of Liver Diseases, or AASLD, said in a press release that it is "pleased to see the recent support from the U.S. Food and Drug Administration for Madrigal Pharmaceuticals' innovative therapy, resmetirom, for the treatment of at-risk Metabolic dysfunction-Associated Steatohepatitis," or MASH. "This landmark approval marks a significant advancement in the field of hepatology, as resmetirom becomes the first FDA-approved therapy specifically indicated for MASH, offering new hope for patients and clinicians alike. FDA's decision to approve resmetirom gives clinicians a valuable tool in their arsenal against MASH and underscores the importance of continued research and innovation in liver disease management," the AASLD stated. Reference Link
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BTTX | Hot Stocks10:05 EDT Better Therapeutics trading resumes
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MO BUD | Hot Stocks10:01 EDT Altria Group says 2024 outlook excludes income from AB InBev sale - Altria Group (MO) said, "The 2024 full-year adjusted diluted EPS guidance range excludes estimated net income of approximately $0.2 billion (or $0.12 per share) that we expect to record in the first quarter of 2024 for the partial sale of our investment in ABI (BUD). This estimated net income is subject to certain adjustments, including any exercise of the underwriters' option to purchase additional shares, adjustments related to the conversion from international financial reporting standards to U.S. generally accepted accounting principles and adjustments required under the equity method of accounting. Additionally, the guidance excludes an estimated per share gain of $1.17 related to the sale of the IQOS Tobacco Heating System commercialization rights that we expect to record in the second quarter of 2024."
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KUKE | Hot Stocks10:01 EDT Kuke Music establishes R&D Center in Guangzhou - Kuke Music recently disclosed a strategic organizational adjustment, including the establishment of a dedicated Technical Research and Development Center in Guangzhou. This strategic initiative is designed to enhance the collaborative efforts in R&D for technological integration between Kuke and its global strategic partner, Naxos Music Group. The company aims to achieve this by offering specialized services, including product development and technical maintenance tailored for Naxos, laying a more solid foundation for future cooperation. The Guangzhou R&D center is dedicated to technical research and development, focusing on innovative technologies to support and advance various products within Naxos. This not only underscores Kuke's commitment to technological innovation but also reflects the company's resolve to deliver a more diverse range of services for classical music enthusiasts.
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MO BUD | Hot Stocks10:01 EDT Altria raises buyback program by $2.4B in connection with AB InBev share sale - Altria Group (MO) announced that it has agreed to sell 35M shares of Anheuser-Busch InBev (BUD) through a global secondary offering comprised of a public offering of ABI ordinary shares represented by American depositary shares, or ADS, in the United States, a public offering of ABI ordinary shares in the United States, a concurrent private placement of ABI ordinary shares in the European Economic Area and the United Kingdom and an offering of ABI ordinary shares, including ABI ordinary shares represented by ADSs, in other countries outside the United States, at a price of $61.50 per ADS, corresponding to EUR 56.17 per ABI ordinary share. In addition, ABI will repurchase $200M of ordinary shares directly from Altria, concurrently with, and conditional on, completion of the offering. The aggregate amount of the offering and repurchase by ABI is approximately $2.4B. Altria has also granted the underwriters an option to purchase up to 5.25M additional ABI shares owned by Altria at the price per ADS paid by the underwriters in the offering, exercisable within the next 30 days. In connection with the pricing of the offering, Altria announces a $2.4B increase to its existing $1B share repurchase program. Its board has authorized the expanded program, which the company expects to complete by December 31, 2024. As part of the expanded share repurchase program, Altria expects to enter into an estimated $2.4B accelerated share repurchase, or ASR, program. It expects cash savings from the elimination of future dividend payments on the repurchased shares. "These opportunistic capital allocation decisions reflect our ongoing confidence in Altria's future and the significant value offered in our shares today. We have a longstanding history of returning cash to our shareholders, and today's announcement reflects our continued desire to create long-term shareholder value," said Billy Gifford, Altria's Chief Executive Officer.
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UA | Hot Stocks10:00 EDT Under Armour falls -10.0% - Under Armour is down -10.0%, or -78c to $7.00.
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S | Hot Stocks10:00 EDT SentinelOne falls -10.5% - SentinelOne is down -10.5%, or -$2.93 to $25.01.
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UAA | Hot Stocks10:00 EDT Under Armour falls -11.2% - Under Armour is down -11.2%, or -91c to $7.20.
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DKS | Hot Stocks10:00 EDT Dick's Sporting rises 16.6% - Dick's Sporting is up 16.6%, or $31.24 to $219.00.
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EGY | Hot Stocks10:00 EDT Vaalco Energy rises 21.2% - Vaalco Energy is up 21.2%, or 94c to $5.41.
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LAC | Hot Stocks10:00 EDT Lithium Americas rises 24.2% - Lithium Americas is up 24.2%, or $1.39 to $7.12.
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SOLO XOS | Hot Stocks09:58 EDT ElectraMeccanica urges shareholders to vote in favor of Xos combination - ElectraMeccanica Vehicles (SOLO) will host its special meeting of the holders of common shares of ElectraMeccanica at 11:00AM on March 20, 2024 via live audio webcast online at www.virtualshareholdermeeting.com/SOLO2024SM. Shareholders are reminded and encouraged to vote well in advance of the deadline for the delivery of voting instructions at 11:00AM on March 18, 2024. The purpose of the meeting will be for ElectraMeccanica's shareholders to consider a special resolution to approve the previously announced plan of arrangement between ElectraMeccanica and Xos (XOS) as well as other related matters detailed in the joint proxy statement/management information circular of ElectraMeccanica and Xos filed on February 13, 2024 with the U.S. Securities and Exchange Commission. The Board of Directors of ElectraMeccanica unanimously recommends that ElectraMeccanica shareholders vote FOR the ElectraMeccanica Arrangement Proposal.
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GRFS | Hot Stocks09:55 EDT Grifols sees addressing 2025 maturities 'efficiently' in first half of 2024 - Grifols said in a statement: "The rating review of Grifols by S&P and Fitch, which resulted in ratings of B and B+ respectively, down from the previous levels of B+ and BB- respectively, comes in light of the 2025 maturities. Rating agencies typically adopt a conservative stance without considering the current status of the efforts and advancements that Grifols is making to address such debt. Grifols continues to conduct business as usual and remain fully committed to implementing our plan to reduce leverage through accelerated EBITDA improvement and the proceeds from the USD 1.8bn Shanghai RAAS 20% sale. Such disposal execution continues to follow already-stated timings and is expected to close in the H1 of 2024.We expect to address our 2025 maturities efficiently in the first half of 2024, considering the SRAAS disposal proceeds and other available options. Executing these commitments will help Grifols achieve leverage levels that should serve as the basis for an improvement on the credit rating agencies' scorecards."
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MO | Hot Stocks09:53 EDT Altria Group trading halted, news pending
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DKS | Hot Stocks09:47 EDT Dick's Sporting rises 15.5% - Dick's Sporting is up 15.5%, or $29.07 to $216.83.
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EGY | Hot Stocks09:47 EDT Vaalco Energy rises 17.7% - Vaalco Energy is up 17.7%, or 79c to $5.25.
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LAC | Hot Stocks09:47 EDT Lithium Americas rises 24.6% - Lithium Americas is up 24.6%, or $1.41 to $7.14.
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UAA | Hot Stocks09:47 EDT Under Armour falls -8.5% - Under Armour is down -8.5%, or -69c to $7.41.
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ASPN | Hot Stocks09:47 EDT Aspen Aerogels falls -8.9% - Aspen Aerogels is down -8.9%, or -$1.59 to $16.30.
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S | Hot Stocks09:47 EDT SentinelOne falls -13.3% - SentinelOne is down -13.3%, or -$3.72 to $24.22.
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SWIN | Hot Stocks09:46 EDT Solowin Holdings Ltd trading resumes
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NVCT | Hot Stocks09:43 EDT Nuvectis Pharma Inc trading resumes
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IMRX | Hot Stocks09:40 EDT Immuneering Corp trading resumes
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BTTX | Hot Stocks09:39 EDT Better Therapeutics to seek strategic alternatives, be delisted from Nasdaq - Better Therapeutics announced today that the company is terminating its employees and will explore strategic alternatives, including assignment for the benefit of creditors and/or a wind-down of the company. This decision was made at a special meeting of the board of directors on Wednesday evening, March 13. Further, as previously disclosed, the company's securities are subject to delisting from the Nasdaq Stock Market unless the company presents a plan to regain compliance with Nasdaq's continued listing standards before the Nasdaq hearings panel. The company has voluntarily requested a delisting of its securities and expects its securities to be delisted in the near term.
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NVCT | Hot Stocks09:38 EDT Nuvectis Pharma Inc trading halted, volatility trading pause
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KPLT | Hot Stocks09:38 EDT Katapult Holdings trading resumes
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VLEEY | Hot Stocks09:38 EDT H.I.G. Capital to acquire Thermal Commercial Vehcles Division from Valeo - H.I.G. Capital announced that one of its affiliates has signed a definitive agreement to carve out the Thermal Commercial Vehicles division from Valeo. The Company will operate under the name "Spheros" following closing. The transaction is expected to close this year and is subject to customary regulatory approvals. Headquartered in Germany, the Company is the leading global developer and manufacturer of thermal management solutions for a wide range of passenger buses and coaches, as well as refrigerated transportation fleets. The Company offers a comprehensive product portfolio, including air conditioning systems, heaters, coolant pumps, and other related hardware.
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HNRG | Hot Stocks09:37 EDT Hallador Energy trading resumes
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SWIN | Hot Stocks09:36 EDT Solowin Holdings Ltd trading halted, volatility trading pause
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CYTH | Hot Stocks09:36 EDT Cyclo Therapeutics announces issuance of U.S. patent on Trappsol Cyclo - Cyclo Therapeutics announced the United States Patent and Trademark Office has granted U.S. Patent No. 11,925,659 titled, "Methods for Treating Alzheimer's Disease," with claims that cover the use of Trappsol Cyclo for the prevention and treatment of early onset Alzheimer's disease.
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BKTI | Hot Stocks09:35 EDT BK Technologies Corp trading resumes
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IMRX | Hot Stocks09:35 EDT Immuneering Corp trading halted, volatility trading pause
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KPLT | Hot Stocks09:33 EDT Katapult Holdings trading halted, volatility trading pause
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WMT | Hot Stocks09:32 EDT Walmart announces pilot project with unspun on 3D fabric weaving technology - Walmart announced a pilot project with unspun, which it calls "a pioneering fashion tech company using the world's first 3D weaving technology." The collaboration, if successful, could help reduce the environmental impact of garment production, offer a more sustainable process for meeting apparel demand and support the companies' shared commitment to shift more textile manufacturing back to the U.S. the company stated. "Out of its micro factory in Oakland, California, unspun's first-of-its-kind technology promises to more quickly and efficiently transform yarn into garments," Walmart added.
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HNRG | Hot Stocks09:32 EDT Hallador Energy trading halted, volatility trading pause
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LVRLF | Hot Stocks09:32 EDT CordovaCann provides update on Star Buds retail operations - CordovaCann announces an update on its Star Buds Cannabis Co. retail operations in Canada. The company said, "Star Buds Cannabis Co. stores have experienced a robust start to 2024. The Company's 11 retail stores are not only gaining substantial market share but are also achieving an expansion in gross profit. This success can be attributed to rigorous cost controls, a diversified product assortment, and a commitment to providing an exceptional customer experience. During the initial two months of this year, the Star Buds Cannabis Co. chain recorded monthly revenues of $1.1 million in both January and February, underscoring its consistent financial strength. Furthermore, the average store within the network displayed an impressive 14.2% year-over-year revenue growth in January and 12.6% year-over-year revenue growth in February. Notably, the stores in Ontario are outpacing expectations, with average monthly revenues surging by 14.6% in January and an even more robust 15.7% in February. The aggregate gross margin for the first two months of the year remains solid at 27.0%, indicative of sustained financial health. This positive momentum in both revenue and gross profit trends has continued into March. Management anticipates sustained success for Star Buds Cannabis Co., driven by the closure of competing stores, ongoing industry consolidation, and a growing customer base. The Company is strategically working towards expanding the Star Buds Cannabis Co. platform nationwide through a combination of organic store growth and strategic acquisitions."
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MACE | Hot Stocks09:31 EDT Mace Security, U.S. LawShield sign evergreen contract for training - Mace Security International and U.S. LawShield announced signing an evergreen contract to provide training for up to 26,000 employees of a nationwide service company. The training and Mace products are expected to produce revenues to Mace estimated at $300,000 over the course of the agreement. Under the agreement, Mace will provide the service company with Mace self-defense products, and U.S. LawShield will offer each employee training on a variety of subjects, including the following: how chemical irritants work; situational awareness techniques; and legal considerations.
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BKTI | Hot Stocks09:30 EDT BK Technologies Corp trading halted, volatility trading pause
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LEXX | Hot Stocks09:29 EDT Lexaria Bioscience appoints Nelson Cabatuan as CFO - Lexaria Bioscience announces the appointment of Nelson Cabatuan, CPA, as CFO, effective immediately. As a member of the executive leadership team, Mr. Cabatuan will lead the Company's financial operations. Cabatuan has over 15 years of corporate finance and operations experience within the life sciences industry, most recently serving as SVP Finance and Operations at Rain Oncology, Inc., a late-stage precision oncology biotech company.
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PRSO | Hot Stocks09:28 EDT Miliwave announces Fixed Wireless products based on Peraso technology - Peraso announced that Miliwave announced new Fixed Wireless products using Peraso's X720 chipset at this year's WISPAMERICA OKC conference in Oklahoma City. In addition, Miliwave announced it has opened an office in North America to service the growing WISP market.
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BTTX | Hot Stocks09:28 EDT Better Therapeutics trading halted, news pending
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ASTI | Hot Stocks09:27 EDT Ascent Solar announces warrants repurchase agreements - Ascent Solar Technologies announced that, as previously disclosed on December 19, 2022, the Company entered into a Securities Purchase Contract with two institutional investors. Pursuant to the Purchase Contract, the Company issued to the investors certain common stock warrants. The Warrants have certain "full ratchet" anti-dilution adjustments that are triggered when the Company issues securities with a purchase or conversion, exercise or exchange price that is less than the exercise price of the Warrants then in effect at any time. Under the full ratchet anti-dilution adjustments, if the Company issues new securities at a price lower than the then applicable exercise price, the exercise price is reduced to the lower new issue price and the number of warrant shares is proportionately increased. The Warrants have been previously adjusted following past issuances of Company securities. Currently, there are 5,596,232 Warrants exercisable at an exercise price of $1.765. On March 6, 2024, and March 7, 2024, the Company entered into Warrant Repurchase agreements with each of the investors. Pursuant to the Repurchase Agreements, if the Company closes a new capital raising transaction with gross proceeds in excess of $5 million, the Company will repurchase the Warrants from the investors for an aggregate purchase price of $3.6 million. Following the delivery of the purchase price to the investors, the investors will relinquish all rights, title and interest in the Warrants and assign the same to the Company, and the Warrants will be canceled. So long as the Repurchase Agreements are in effect, the investors have agreed not to directly or indirectly sell or assign the Warrants. The investors retain the right to exercise the Warrants at the current exercise price at any time proper to the completion of the Qualified Financing. In the case of any such exercise, the $3.6 million aggregate repurchase price will be reduced on a pro-rata percentage basis. If the closing under the Repurchase Agreements has not occurred by April 12, 2024, then, at the election of either the Company or the Investors, by written notice to the other, the Repurchase Agreements may be terminated. In the event of any termination of the Repurchase Agreements, the Warrants shall remain outstanding with all existing terms unchanged.
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EB | Hot Stocks09:25 EDT Eventbrite announces $100M share repurchase pact - Eventbrite announced its Board of Directors has authorized the repurchase of up to $100M of outstanding Class A common stock. Under the program, Eventbrite may purchase shares of Class A common stock through open market purchases, block trades, privately negotiated transactions, accelerated share repurchase transactions, and/or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements. The volume and timing of any repurchases will be subject to general market conditions, as well as Eventbrite's management of capital, general business conditions, other investment opportunities, and other factors. The repurchase program does not obligate Eventbrite to repurchase any specific number of shares, has no time limit, and may be modified, suspended, or discontinued at any time at the company's discretion.
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CUEN | Hot Stocks09:24 EDT Cuentas sells Brooksville real estate for $7.2M - Cuentas, announced the unveiling of the terms for the sale of its Brooksville, Florida property. Acquired in 2023, the transaction sets the stage for a transformative deal expected to close within 60 days, following due diligence by the purchaser. This transaction will furnish the Company with organic cash, fortifying its resources for future ventures and affirming its successful strategic focus on Fintech and Mobile Services. The agreement solidifies Cuentas' decision to divest its real estate investments in Brooksville, Florida, a market renowned for its rapid growth. The sale of the property for $7.2 million unlocks liquidity and yields double-digit returns on the investment, based on its purchase price of $5.05 million. With the closing slated for within 60 days and funds in escrow, the Company is poised for further enhancement of its financial position. After extensive evaluation of various options, including exploring development joint ventures and assessing multiple purchase offers, management opted for the most advantageous agreement. This decision prioritizes expediency in closing and delivers double-digit percentage returns. Management views this transaction as a tactical triumph, aligning with the Company's objectives of profitability and cash flow. It empowers continued involvement in development projects in the South Florida region, leveraging the company's local headquarters in Miami Beach, Florida. The proceeds from this sale will be channeled towards self-funding the company, reinforcing its Cuentas Money and Cuentas Mobile services, and fostering additional real estate developments akin to the successful Lakewood Villas development, where the company holds a 6% stake.
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BPTH | Hot Stocks09:24 EDT Bio-Path receives noncompliance letter from Nasdaq - In a regulatory filing, Bio-Path Holdings announced that it received a deficiency letter from the Listing Qualifications Department of Nasdaq notifying the company that it is not in compliance with the minimum stockholders' equity requirement of at least $2.5M for continued inclusion on Nasdaq pursuant to Nasdaq Listing Rule 5550. The letter has no effect on the listing of the company's common stock at this time, and the company's common stock will continue to trade on Nasdaq.
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ENFN | Hot Stocks09:21 EDT Enfusion down 3% at $9.00 after short thesis by Spruce Point Capital
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SWIN | Hot Stocks09:21 EDT Solowin Holdings announces expansion into Private Wealth Management business - SOLOWIN HOLDINGS announced its strategic expansion into the Private Wealth Management business under its newly formed Hong Kong subsidiary, Solomon Private Wealth Limited. The Company expects to serve a broad range of high-net-worth individuals, family offices, and trusts, by offering wealth management services and solutions that span traditional and virtual asset classes. To support this new expansion, the Company has opened a new office in the International Commerce Center in Hong Kong to house its growing team of professionals and to accelerate its diversification into this fast-growing business. This office also highlights SOLOWIN's commitment to building an integrated financial services infrastructure for next-generation investors.
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CRMD | Hot Stocks09:20 EDT CorMedix CEO buys 13,561 shares at $3.74 - In a regulatory filing, CorMedix disclosed that CEO Joseph Todisco purchased 13,561 shares of common stock for $3.74 per share.
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MULN | Hot Stocks09:20 EDT Mullen Automotive announces key sales hires - Mullen Automotive announced new key sales hires who have joined the Company in support of its commercial EV van and truck program. Tyler Jordan - Senior Director of Commercial Sales: Jordan has more than 13 years of experience driving profitability, growth, and process and program enhancements to service high-volume, multi-million-dollar accounts, leveraging strategic planning and data analysis. During the five years he spent with Merchants Fleet, Jordan was a key contributor to the growth of the Last Mile Delivery segment as both a strategic account executive and manager of the strategic accounts. In his role, Jordan collaborated with many different teams to create scalable, end-to-end processes that proved crucial in landing large strategic accounts such as Amazon, FedEx and UPS. Matt Nevious - Director of Commercial Sales/Strategic Accounts: Nevious played a pivotal role at Merchants Fleet in the growth and optimization of key accounts, particularly within Amazon Last Mile operations. He spearheaded the development of innovative programs tailored to the unique needs of clients like Amazon and FedEx. Jacob Frenning - Director of Commercial Sales Mid-Atlantic: Frenning has over 15 years of proven successful sales and leadership experience in automotive service, commercial sales and fleet management. In the past decade, Frenning has held positions in operations, sales, and management, and is passionate about applying these skills to deliver proven sales results. Frenning has strong contacts with fleets and is known for working hard to uncover new opportunities while strategically targeting key accounts and other growth engines.
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TGH | Hot Stocks09:19 EDT Stonepeak completes acquistion of Textainer - Stonepeak announced it has completed its acquisition of Textainer Group Holdings.
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LAES | Hot Stocks09:18 EDT Sealsq launches SEALBOX - SEALSQ announced the launch of SEALBOX, its innovative solution for IoT device provisioning at the manufacturing level. SEALBOX is available now and it will be showcased at the upcoming CSA Member Meeting, taking place in Singapore from March 18 - 21. SEALBOX aims to address the current challenges in the IoT device provisioning process. This process of securely generating and provisioning device identity and data requires manufacturers to use a Public Key Infrastructure (PKI) to create and install a unique digital certificate. While it presents difficulties to both manufacturers and integrators, this process is crucial to guarantee device authentication and security. Providing each device with a distinct identity is also now enforced by prominent standards such as Matter, EV-charging, OPC-UA Industry 4.0, US Cyber Trust Mark, and the European Cyber Resilient Act.
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NVCT | Hot Stocks09:17 EDT Nuvectis Pharma announces preliminary data from NXP800 Phase 1b trial - Nuvectis Pharma announced preliminary data from the ongoing Phase 1b clinical trial of NXP800 in patients with platinum resistant ARID1a-mutated ovarian cancer, a deadly disease of unmet medical need. The NXP800 development program in this disease was granted Fast Track Designation by the U.S. Food and Drug Administration. The Phase 1b clinical trial is being conducted in top clinical centers in the United States and the United Kingdom. Encouraging preliminary efficacy data was observed and includes data from the first four patients enrolled in the study, two treated with 75 mg/day and two treated with 50 mg/day. All patients failed at least two prior lines of systemic chemotherapy, including at least one prior platinum-based chemotherapy regimen. Three of the patients also failed prior treatment with bevacizumab. Efficacy was evaluated in three of the four patients. One patient treated with 75 mg/day achieved a PR, unconfirmed, that also included a CR of her non-target lymph node disease. Both patients treated with 50 mg/day achieved SD and the fourth patient was not evaluated for efficacy. Three of these four patients experienced an adverse event of thrombocytopenia that was Grade 4 in intensity, these events were transient in nature with no concurrent bleeding events reported. Following these events, as mentioned above, a management procedure for the monitoring of platelets and dose adjustments, as necessary, has been implemented with the goal of minimizing dosing interruptions and increasing patient retention. No other greater than or equal to Grade 3 hematological toxicities were reported. In addition, gastrointestinal adverse events were reported in all four patients, all Grade 1-2.
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EDBL | Hot Stocks09:16 EDT Edible Garden announces Pulp sauces available through KeHE distributors - Edible Garden announced at Natural Products EXPO WEST 2024 that KeHE Distributors will carry Edible Garden's new line of Pulp sustainable gourmet sauces and chili-based products.
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IVCGF HYMTF | Hot Stocks09:14 EDT Iveco Group, Hyundai Motor expand partnership to explore synergies - Hyundai Motor Company (HYMTF) and Iveco Group (IVCGF) are strengthening their partnership to drive innovation in the commercial vehicle sector. Today the two companies signed a Letter of Intent, reinforcing their partnership with a facing view towards electric heavy-duty truck solutions, including both battery electric trucks and fuel cell electric trucks, for European markets. By leveraging the advanced technologies and assets of each party, the two companies expect to accelerate the transition to a sustainable future. Since initiating their partnership in March 2022, Hyundai Motor and Iveco Group have achieved a series of significant milestones. Notably, in September 2022, they unveiled the first IVECO eDaily Fuel Cell Electric Vehicle at the IAA Transportation event in Hanover. This was followed by the debut of the IVECO BUS E-WAY H2 in October 2023 at Busworld in Brussels. Most recently, in February of this year, the two companies announced the signing of a supply agreement for an IVECO-badged all-electric light commercial vehicle for Europe, based on Hyundai's eLCV platform.
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AVGO | Hot Stocks09:13 EDT Broadcom delivers Bailly Ethernet switch to customers - Broadcom has delivered Bailly, the industry's first 51.2 terabits per sec co-packaged optics Ethernet switch, to its customers. The product integrates eight silicon photonics based 6.4-Tbps optical engines with Broadcom's best-in-class StrataXGS Tomahawk 5 switch chip. Bailly enables the optical interconnect to operate at 70% lower power consumption and delivers an 8x improvement in silicon area efficiency as compared to pluggable transceiver solutions.
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TMUS | Hot Stocks09:13 EDT Dialpad in partnership with T-Mobile announce Ai Recaps launch - Dialpad "the leading Ai-Powered Customer Intelligence Platform, in partnership with T-Mobile announced the general release of Ai Recaps and a three-year extension of the exclusive partnership between the two companies. Communication solutions are vital for any business - but they can be a real pain. Legacy PBX phone systems can be expensive and difficult to implement. And even though reliability is key, businesses can still deal with dropped calls and laggy video. In a digital-first world with AI and 5G, communication solutions should be a breeze, not a burden. They should help businesses communicate better, close more deals, and ultimately increase revenue...""Ai Recaps isn't just a feature; it's a step toward making AI a tangible reality for businesses and the modern workforce," said Craig Walker, CEO & Founder of Dialpad. "It revolutionizes professional interactions, ensuring that every critical insight is captured with actionable summaries on every call and meeting. This collaboration is a clear indication of our unwavering resolve to bring AI's potential to life, continually innovating and refining our solutions to meet the dynamic needs of our customers," said the companies in a press release...
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NURO | Hot Stocks09:12 EDT NeuroMetrix announces publication of study on DPNCheck - NeuroMetrix noted the recent publication of a large study demonstrating that DPNCheck combined with standard EKG or DPNCheck alone accurately detects diabetic peripheral neuropathy. Hayashi and colleagues evaluated 167 patients with Type 1 or Type 2 diabetes. The reference standard for DPN was a gold standard nerve conduction study. The authors developed a predictive formula based on DPNCheck measurements, patient age and the coefficient of variation of R-R intervals which quantifies autonomic function and is a standard output of EKG machines. DPNCheck combined with CVR-R had high diagnostic performance with an area under the receiver operating curve of 0.88. Similar performance was reported when using just DPNCheck to diagnose DPN. The authors concluded "The use of DPNCheck and electrocardiogram would make the diagnosis of DPN simple, ubiquitous, and with high reproducibility and reliability."
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LPLA | Hot Stocks09:11 EDT LPL Financial: Seven advisors join broker-dealer, RIA, custodial platforms - LPL Financial LLC announced that seven financial advisors from five firms have joined LPL Financial's broker-dealer, RIA and custodial platforms. They collectively reported serving approximately $700 million in advisory, brokerage and retirement plan assets, and join LPL from Osaic. Headquartered in the Minneapolis suburb of Maple Grove, the teams, who share a combined 170 years of experience, have operated independently in the same building for more than a decade. They are: Michael Matheson of M Financial Group; Amy R. Holewa of Holewa Financial; Jeff Schuler, of Schuler Financial Advisor Group; Paul Lyon; Dan Pias. While each practice has its own focus, client base and support staff, they regularly collaborate on business and service best practices.
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BGXX | Hot Stocks09:10 EDT Bright Green to install 102-megawatt solar field for Dalsem project - Bright Green Corporation announced that BGXX will install a 102-megawatt solar field to power the electricity and heating requirements for the new $250 million Dalsem expansion project and commits to switch the existing facility that currently burns natural gas and heavy oil to solar. This ensures that the BGXX production and drug manufacturing requirements in Grants, New Mexico are carbon neutral. The company started the bid process and is working with several Solar Installation Companies domiciled in New Mexico to install a 102-Megawatt Solar Power Generation field. The successful bid will also include a Power Purchase Agreement from local utilities to purchase the excess power during peak times. The Company has committed and will install three high efficiency boilers manufactured from Precision Boilers, LLC in Morristown, Tennessee for their high efficiency 40 megawatt boilers to be powered by the new solar field. The electric boilers will heat hot water that is stored in massive hot water storage tanks at 200 degrees to be used for the heating requirements during low sun periods. The VP panels will be manufactured from Singapore based Maxeon Solar Technologies for the new state-of-the-art solar manufacturing plant in Albuquerque, New Mexico. BGXX has committed to clean renewable energy to supply the massive heat and electricity loads to the 1 million existing and 7 million sq. ft. expansion. Baker Tilly has completed the modeling for construction cost and related construction jobs for the EB-5 investment opportunity. The cost savings over the 30-year life span of the equipment will be in the hundreds of millions of dollars the Company estimates. In addition to the EB-5 funding, additional financing, if needed for the project, will be derived from federal infrastructure grants, loans and margining supply contracts for the BGXX, Drugs Made in America platform for this particular rural project. The building out of the solar field will take about 30 months and this will allow the company to better manage their EB-5 investment jobs creation opportuinity.
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NCL | Hot Stocks09:08 EDT Northann to relocate corporate headquarters to American South - Northann Corp announced its plan of the relocation of its corporate headquarters to the American South. This strategic move is aligned with the Company's forward-looking vision and commitment to enhancing its market presence and customer engagement in that region. The new headquarters will serve as a central hub for Northann Corp's operations, intended to foster innovation and collaboration among its teams. Our relocation was carefully selected for its proximity to key markets and customers, enabling the Company to respond to and service more effectively the evolving needs of its clientele and to seize new business opportunities. It is expected to create 300 jobs and integrate the 3D printing ecosystem into the middle and consumer markets more prospectively. Additionally, the relocation will help commercialize Northann's latest innovations to customers more swiftly and speed up the update of new products. The transition to the new headquarters will commence in April 2024 and is expected to be a smooth and seamless move expected to be completed by June 2024. After the relocation of the headquarters, Northann will continue to maintain its branch in California, ensuring ongoing support and service to its clients in the region.
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YMAB | Hot Stocks09:07 EDT Y-mAbs Therapeutics CFO Bo Kruse resigns - Y-mAbs Therapeutics announced that CFO, Bo Kruse, has notified the Company of his resignation. Y-mAbs has commenced a search process for a successor. Mr. Kruse will remain in the CFO role until his successor is identified and joins the Company. He will then continue as a non-executive employee from the time his successor joins the Company through July 31, 2024, after which it is expected that Mr. Kruse will be available to the Company for a period of time to support a smooth transition of the CFO role.
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SPWR | Hot Stocks09:07 EDT SunPower appoints Tony Garzolini as Chief Revenue Officer - SunPower appointed Tony Garzolini as Executive VP and Chief Revenue Officer - CRO -. Most recently, Garzolini served as Senior VP of Residential Product Sales for Generac Power Systems. Prior to that, he held various leadership positions at SunPower for more than 13 years, including Vice President of Residential Sales.
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SPT VMEO | Hot Stocks09:06 EDT Sprout Social appoints Crystal Boysen as CPO - Sprout Social (SPT) announced the appointment of Crystal Boysen to chief people officer, effective March 25, 2024. As CPO, Boysen will oversee Sprout's global people function and have an essential role in building and elevating Sprout's world-class team. Prior to Sprout, Boysen was the CPO at Vimeo (VMEO).
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PETQ | Hot Stocks09:05 EDT PetIQ launches Minties dental treats for large-sized dogs - PetIQ has announced the launch of Minties dental treats for large-sized dogs, expanding the Minties brand to now include affordable, veterinarian-recommended dental treats for tiny/small, medium, and large-sized dogs, as well as cats. Available now online and later this year in more retail locations, Minties large dental treats can be purchased in a variety of package sizes ranging from 6.4oz bags, 16oz bags, 32oz bags, and 48oz bags.
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CLBT | Hot Stocks09:04 EDT Cellebrite unveils Cellebrite Endpoint Inspector SaaS - Cellebrite DI unveils Cellebrite Endpoint Inspector SaaS. This enhanced delivery model of the Endpoint Inspector product offers enterprise customers and eDiscovery service providers next-generation digital forensic capabilities that enable the streamlined collection and analysis of data from diverse remote devices, all within a unified, consent-based, secure framework.
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VZ | Hot Stocks09:03 EDT Verizon named 5G Innovation Partner for LA Chargers training facility - erizon Business and the Los Angeles Chargers announced an exclusive agreement to integrate Verizon's advanced network solutions and services at the Chargers' new training facility and headquarters currently under construction in El Segundo, California. As the official 5G technology and innovation partner, Verizon will lead the integrated design and delivery for all connectivity of the prime 14-acre property in Los Angeles' South Bay, including cloud-based mobility, security, 5G edge, and private 5G network solutions to help the Chargers implement cutting edge training practices and streamline business operations.
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TGH | Hot Stocks09:03 EDT Textainer closes acquisition by Stonepeak - Textainer Group completed the previously announced acquisition of Textainer by investment vehicles managed by Stonepeak. All common shares of Textainer converted into the right to receive $50.00 per share in cash. The per share consideration paid to shareholders on the JSE will be in South African Rand at an exchange rate of 18.98821 Rand for each USD 1.00. The common shares, which trade on the New York Stock Exchange under the ticker symbol "TGH", were suspended from trading today prior to the open of market and will be delisted from the NYSE within 10 days. In addition, Textainer intends to file a certification on Form 15F with the SEC requesting the termination of registration of the common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended and the suspension of Textainer's reporting obligations under Section 13 of the Exchange Act with respect to the common shares. Also on March 14, 2024, after the closing of the acquisition, Textainer issued a notice of redemption for all its 7.000% Series A Cumulative Redeemable Perpetual Preference Shares and the corresponding redemption of each depositary share representing a 1/1000th interest in each such share, CUSIP 88314W204, and 6.250% Series B Cumulative Redeemable Perpetual Preference Shares and the corresponding redemption of each depositary share representing a 1/1000th interest in each such share, CUSIP 88314W303. The redemption date for the Preference Shares and corresponding depositary shares will be April 15, 2024. The redemption price for each Series A Preference Shares will be $25,150.69 and each Series B Preference Share will be $25,134.55. The corresponding depositary share redemption price will be $25.15 per Series A Depositary Share and $25.13 per Series B Depositary Share. Regular quarterly dividends on the Preference Shares and depositary shares are payable March 15, 2024, to each holder of record on March 1, 2024. No dividends on the Preference Shares and depositary shares will accrue on or after the Redemption Date, nor will any interest accrue on amounts held to pay the redemption price. Following the redemption of the Preference Shares and depositary shares, Textainer will request that the NYSE delist the depositary shares. In addition, Textainer intends to file a certification on Form 15F with the SEC requesting the termination of registration of the Series A Preference Shares and the Series B Preference Shares under Section 12(g) of the Exchange Act and the suspension of Textainer's reporting obligations under Section 13 of the Exchange Act with respect to the Preference Shares.
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VTAK | Hot Stocks09:00 EDT Catheter Precision announces first use of VIVO in Qatar - Catheter Precision announced that VIVO was used in five procedures for the first time in Qatar at Hamad Medical Corporation Heart Hospital in Doha. Hamad Medical Corporation is the main provider of secondary and tertiary healthcare in Qatar and one of the leading hospital providers in the Middle East. HMC manages 12 hospitals - nine specialist hospitals and three community hospitals.
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SCHW | Hot Stocks08:59 EDT Charles Schwab reports total client assets $8.88T up 20% as of February-end - The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for February 2024 include: Core net new assets brought to the company by new and existing clients totaled $33.4 B. Net new assets excluding mutual fund clearing totaled $31.1B. Reports total client assets were $8.88T as of month-end February, up 20% from February 2023 and up 4% versus January 2024; Transactional sweep cash ended February 2024 at $403.2B representing a decrease of $2.9B versus the prior month.With the company's diversified financial model benefiting from rising equity markets and stronger client trading activity to start the year, the company anticipates first-quarter sequential revenue growth of approximately 5% to 6% and adjusted pre-tax profit margin expansion of nearly four percentage points versus the fourth quarter as the full impact of the late 2023 incremental cost savings are realized. 1Q24 GAAP pre-tax profit margin is currently expected to expand by more than 900 basis points versus 4Q23.
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VTLE | Hot Stocks08:58 EDT Vital Energy commences tenders offers for senior notes - Vital Energy has commenced cash tender offers to purchase for cash up to $550.0 million aggregate principal amount of the outstanding notes listed in the table below, provided that the Company will not accept for purchase more than $475.0 million of its 10.125% senior notes due 2028 and $75.0 million of its 9.750% senior notes due 2030, subject to certain conditions. The terms and conditions of the Tender Offers are described in an Offer to Purchase, dated March 14, 2024. Vital Energy intends to fund the purchase of Tender Notes with the net proceeds from Vital Energy's concurrent offering of $575.0 million aggregate principal amount of senior notes due 2032, which was also announced by Vital Energy today, together with existing corporate liquidity, if needed.
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VTLE | Hot Stocks08:56 EDT Vital Energy announces offering of $575M of senior notes - Vital Energy intends to offer, subject to market and other conditions, $575.0 million in aggregate principal amount of senior notes due 2032 in a private placement to eligible purchasers. The Company intends to use the net proceeds of the Offering, if completed, together with existing corporate liquidity, to fund the purchase for cash of up to $475.0 million aggregate principal amount of our 10.125% senior notes due 2028 and $75.0 million aggregate principal amount of our 9.750% senior notes due 2030 in the cash tender offers the Company commenced pursuant to an offer to purchase dated March 14, 2024, pay fees and expenses incurred therewith and/or repay borrowings outstanding under our senior secured credit facility. The senior notes will be senior unsecured obligations of the Company and will be guaranteed on a senior unsecured basis by Vital Midstream Services, LLC, a subsidiary of the Company, and certain of its future subsidiaries.
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SVFD | Hot Stocks08:53 EDT Save Foods collaborates with Citrus Tree to treat fruit in Brazil - Save Foods announced its collaboration with Citrus Tree, under which over 20 tons of Tahiti limes have already been treated. The collaboration with Citrus Tree aims to demonstrate the efficacy of Save Foods' solutions in mitigating undesirable pathogens and reducing hazardous pesticide residues on the fruit, ultimately extending its shelf life and reducing waste.
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SPRC | Hot Stocks08:52 EDT SciSparc doses first patient in Autism Spectrum Disorder trial - SciSparc has successfully dosed the first patient in its SCI-210 clinical trial at the Soroka Medical Center for pediatric patients who have Autism Spectrum Disorder. This significant milestone follows the Company's recent announcement about the successful delivery of its innovative SCI-210 treatment to the clinical trial site, enabling the commencement of dosing. SciSparc's proprietary SCI-210 treatment combines cannabidiol-rich oil and CannAmide, SciSparc's proprietary palmitoylethanolamide-based tablets. The dosing of the first patient signifies the transition from preparatory phases to active treatment evaluation in the quest to offer a more effective and safe treatment option for ASD.
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OMQS | Hot Stocks08:51 EDT Omniq to deploy fintech solution at Ben Gurion Airport - In a significant stride towards revolutionizing the travel experience at Ben Gurion Airport, OMNIQ, in collaboration with GETT, is set to introduce a cutting-edge system designed to ensure convenience, time saving and fairness to travelers hailing taxis at Israel's primary international gateway. For years, travelers arriving at Ben Gurion Airport have faced challenges with local taxi services, including safety concerns. Addressing these issues, OMNIQ's innovative solution aims to provide a seamless and secure taxi ordering experience, leveraging advanced technology to protect and enhance the traveler's journey.
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GRI | Hot Stocks08:49 EDT GRI Bio announces notice of allowance for Canadian patent - GRI Bio announced that the Canadian Intellectual Property Office has issued a notice of allowance for Patent Application No. 3,007,970 titled, "Prevention and Treatment of Inflammatory Conditions." A patent from the recently allowed application is expected to be issued in the coming months. When issued, the patent will cover claims including compositions and methods for modulating type 2 and/or type 1 invariant NKT cells in the prevention and treatment of inflammatory conditions of the liver. More specifically, when issued the patent will cover the prevention and treatment of inflammatory and fibrotic conditions through the administration of a Retinoic Acid Receptor agonist that inhibits iNKT cells and the administration of an RAR agonist that inhibits the activity of iNKT cells in a subject.
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SYNX | Hot Stocks08:49 EDT Silynxcom secures first order of In-Ear Headset system - Silynxcom announced that the first order for its latest In-Ear Headset system has been received. The system, tailored to meet the specific requirements of law enforcement organizations that use Terrestrial Trunked Radio based communication systems, was successfully tested by a European law enforcement customer that then purchased the system.
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BKR BP | Hot Stocks08:48 EDT Baker Hughes announces 'breakthrough' in flare emissions monitoring - Baker Hughes (BKR) has announced a breakthrough in flare emissions monitoring following a collaboration with bp (BP). Using Baker Hughes' emissions abatement technology, flare.IQ, bp is quantifying methane emissions from its flares, a new application for the upstream oil and gas sector. With no universally accepted solution to quantifying methane emissions from flares, bp and Baker Hughes conducted one of the largest ever full-scale studies of flare combustion, including testing a range of flares under challenging conditions and verifying the accuracy of flare.IQ technology. Now, acting on real-time data from flare.IQ at 65 flares across seven regions, bp can carry out early interventions and reduce emissions from flaring.
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SIDU | Hot Stocks08:47 EDT Sidus Space gets signals from LizzieSat after deployment on SpaceX mission - Sidus Space announced it received multiple signals from its LizzieSat satellite after launch and deployment to low Earth orbit as part of SpaceX's Transporter-10 Rideshare mission on March 4 from Space Launch Complex 4 East at Vandenberg Space Force Base in California. A replay of the mission can be viewed HERE with the deploy of LizzieSat shown at approximately 1 hour and 18 minutes after launch. The Sidus mission and launch team received multiple signals on its FCC-approved prime radio frequency and continues to monitor communications with the satellite from its operations center in Merritt Island, Florida. The LizzieSat satellite, approximately the size of a mini-refrigerator, is considered a microsatellite with a weight of 275 pounds and is able to support multiple missions and customers from its single platform. "After a successful launch and deployment, we are very excited to report that during the launch and early operations LEOP stage, we received signals from LizzieSat(TM)," said Carol Craig, CEO at Sidus Space. "This milestone marks the beginning of Sidus' new era as a satellite manufacturer and operator and demonstrates our ability to deliver cutting-edge space hardware while pushing the frontiers of space technology and data collection. We have methodically executed on our strategy of building a leading Space and Defense as a Service company with an experienced team, innovative and advanced technologies, a vertically integrated manufacturing facility, and a robust spacecraft supply chain. It's exciting to show proof of this capability for government and commercial customers alike." .
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SVMH | Hot Stocks08:47 EDT SRIVARU nears completion of EV motorcycle manufacturing facility - SRIVARU Holding is near completion of its new manufacturing facility in Coimbatore, India, which is expected to be fully operational in April 2024. We expect the new manufacturing facility will initially provide the Company with the capacity to produce over 2,000 bikes per month, operating just a single shift and single line. The facility incorporates advanced automation systems, expected to significantly enhance manufacturing efficiency and operating margins. The new facility's production capacity has been designed to be able to be expanded with minimal capex requirements through additional lines and multiple shifts, which could support production of more than 50,000/units per year.
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SF | Hot Stocks08:46 EDT Stifel Financial to acquire Finance 500, CB Resource, terms not disclosed - Stifel Financial has signed a definitive agreement to acquire Finance 500 and CB Resource. Terms of the transaction were not disclosed. The Irvine-based companies, which operate as strategic partners under common ownership, are market leaders in the underwriting and issuance of certificates of deposits, having assisted more than 1,200 depository institutions in raising over $200 billion to support near and long-term funding needs. CBR offers an advanced technology-enabled platform to deliver enterprise risk management, strategic planning, capital planning, and interactive performance-based analytics for community banks nationwide.
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POWW | Hot Stocks08:44 EDT AMMO launches multi-item cart, single payment portal on GunBroker.com - AMMO announces the official launch of new tools to enhance the customer experience at GunBroker.com that incorporates a new multi-item cart and single payment portal. The multi-item cart allows customers to purchase multiple items from different sellers, with a single checkout and payment. Previously, buying more than one item required a corresponding number of checkouts for each purchase. Firearms and accessories, such as holsters, magazines, ammunition, etc., will all be incorporated into the new system that will require users only enter their federal firearms license, payment and shipping information one time. Any coupon or discounts offered by sellers, applied once, will automatically be applied to all eligible items. The cart will display orders requiring payment from auctions that customers have won along with immediate purchase items the user added to the cart. All these items can be checked out and paid for together.
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KULR | Hot Stocks08:43 EDT KULR Technology enters contract with Nanoracks - KULR Technology Group announced in a landmark development it has been awarded a pivotal contract exceeding $865,000 from Nanoracks.This collaboration marks a significant milestone in KULR's journey, with the initial contract poised to conclude in April of this year, and production slated to commence later.
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MLSS | Hot Stocks08:43 EDT Milestone Scientific commences sales of CompuFlo Epidural Disposables - Milestone Scientific has commenced sales of CompuFlo(R) Epidural disposables to Omaha Pain Physicians, a comprehensive medical pain management center in Omaha, NE. Omaha Pain Physicians is focused on treating patients with acute and chronic pain. Adoption of the technology by this clinic follows a successful evaluation process by its founder and medical director, Dr. Matthew Stottle, an interventional pain medicine physician, who is board-certified by the American Board of Anesthesiology in both anesthesiology and pain medicine. Dr. Matthew Stottle completed 10 cases using the CompuFlo Epidural system at Omaha Pain Physicians, in which he reported 100% success. The evaluation included Epidural Steroid Injection procedures within the lumbar, thoracic and cervical thoracic junction of the spine.
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TELO | Hot Stocks08:42 EDT Telomir Pharmaceuticals uses AI testing models to show Telomir-1 potential - Telomir Pharmaceuticals highlighted its use of computer-aided testing in a pre-clinical setting to study and analyze the potential benefits of its lead product candidate, Telomir-1. Using in silico modeling, which deploys artificial intelligence-driven computational models to predict a compound's therapeutic potential, biological activities and toxicity, Telomir continues to find evidence that the mechanism of action of Telomir-1 has the potential to reverse age-related conditions such as osteoarthritis by lengthening DNA's protective telomere caps. Telomir's recent AI-powered research presented in Singapore last month not only supports but amplifies the therapeutic potential of Telomir-1. Additional AI-driven studies now being conducted to demonstrate Telomir-1's promising therapeutic potential, supporting Telomir's hypothesis with solid computational evidence. Telomir's advanced AI in silico model is seeking to enable a deeper understanding of Telomir-1's interactions at the molecular level and to affirm its ability to lengthen telomeres and potentially combat age-related diseases. As part of its work, Telomir works with third-party collaborators Frontage Laboratories and InSilicoTrials, each of whom utilize AI in-silico testing models. Following its previously announced presentation in Singapore, Telomir is excited to announce an upcoming presentation of its research in Las Vegas at the Global Longevity Federation on March 25-26, 2024. This conference is focused on continued discovery in the battle against aging. As additional research is conducted, Telomir is planning to present its findings at future scientific conferences.
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ATNF | Hot Stocks08:41 EDT 180 Life Sciences regains compliance with Nasdaq requirement - 180 Life Sciences Corp. received a letter on March 13, 2024 from The Nasdaq Stock Market indicating that the Company has regained full compliance with the minimum bid price for continued listing on the Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(2). As indicated in the letter, Nasdaq determined that for 10 consecutive business days, the closing bid price of the Company's common stock was at or above $1.00 per share. Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement.
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BEAT | Hot Stocks08:41 EDT HeartBeam announces initiation of VALID-ECG study for cardiac monitoring - HeartBeam announced that it has enrolled the first patients in the VALID-ECG or Clinical Validation of the AIMIGo 12-Lead ECG Synthesis Software for Arrhythmia Detection, pivotal study. The first patients were enrolled at Atlanta Heart Specialists, a top cardiology physician practice in Atlanta, GA. The VALID-ECG study will evaluate the performance of a 12-lead ECG synthesized from its credit card-sized HeartBeam AIMIGo system compared to that of a standard hospital-based 12-lead ECG using both quantitative and qualitative methodologies for assessment of arrhythmias. HeartBeam AIMIGo leverages HeartBeam's proprietary 3D vector electrocardiography or 3D VECG, technology to capture signals in three projections and synthesize a 12-lead ECG. "We are thrilled to be part of this important study as AIMIGo represents a significant leap in cardiac monitoring technology. It brings the power of 3D VECG into a familiar 12-lead ECG waveform which is used to evaluate a range of cardiac conditions on a daily basis," said David D. Suh, MD, FACC, Director of Research at Atlanta Heart Specialists. "The attractive, small form factor of AIMIGo makes it easy for patients to use the device whenever necessary. In addition, the clinical implications of 3D VECG technology could be potentially broad-ranging and extend to a variety of applications." .
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WGS | Hot Stocks08:40 EDT GeneDx to present data on exome at ACMG meeting - GeneDx announced its scientific contributions at the 2024 American College of Medical Genetics and Genomics Annual Clinical Genetics Meeting. Across one platform presentation, an industry symposium and six poster presentations, including one selected as a "Rapid Fire Poster Session," an invitation-only presentation of the top 20 ACMG posters, GeneDx continues to demonstrate its industry leadership in shaping the future landscape of genomics. One of the GeneDx poster sessions includes data demonstrating the ability of exome sequencing to detect small copy number variants below the reporting threshold of chromosomal microarray and the detection of CNVs at nearly 99% concordance with CMA. These findings represent improved data quality from pipeline and platform improvements. Combined with its ability to identify many other types of variants compared to CMA and its nearly three times higher diagnostic yield, these findings demonstrate the clinical superiority of an exome over CMA. These data support the current clinical guidelines recommending exome as a first-tier test and represent GeneDx's groundbreaking approach to genomic data analysis and interpretation, aimed at eliminating the need for additional tests when ordering exome first. In its platform presentation, GeneDx will highlight its newly developed statistical approach for predicting the impact of many missense variants with a precision of 99%. This proof-of-concept research has the potential to decrease the variants of unknown significance rate and drive greater operational efficiency and diagnostic precision by decreasing the number of variants requiring additional vetting. In addition to its technological and scientific advancements, GeneDx is committed to democratizing access to genomic testing by eliminating barriers and unlocking the bottlenecks of care. Through an industry-sponsored session, GeneDx will explore the gap between the availability of the medical genetics workforce and the genetic testing needs of pediatric patients. This session features a discussion comparing viewpoints and opportunities around non-geneticists ordering genomic sequencing as part of routine care, with the goal of improving patient outcomes.
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NXL | Hot Stocks08:39 EDT Nexalin Technology commences sales of Gen-2 neurostimulation device - Nexalin Technology has commenced sales of its second generation 15 milliamp neurostimulation device into a new mental health center in Oman, dedicated to the use of Nexalin's neurostimulation device for the treatment of patients with substance abuse disorder. The new clinic opened and commenced treatment of patients with Nexalin's Gen-2 neurostimulation device following a successful evaluation and inspection of the facility by the Sultanate of Oman's Ministry of Health, which ensures strict quality standards and adherence to established and robust guidelines and regulations. As previously announced, Nexalin was recently granted regulatory approval for its Gen-2, 15 milliamp neurostimulation device by the Sultanate of Oman's Ministry of Health.
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SCPX | Hot Stocks08:37 EDT Scorpius Holdings accepted as member of BioMaP-Consortium - Scorpius Holdings has been accepted into the Biopharmaceutical Manufacturing Preparedness Consortium, a part of the National Biopharmaceutical Manufacturing Partnership. The BioMap-Consortium has a $20 billion funding ceiling, through which it provides growth funding, as well as streamlined access to servicing government-funded manufacturing programs. The BioMaP-Consortium supports the Biomedical Advanced Research and Development Authority and is comprised of industry partners across the drug and vaccine manufacturing supply chain, including manufacturers of raw materials and consumables, developers of innovative manufacturing technologies, and suppliers of fill finish services. This consortium seeks to expand the industrial and manufacturing base for medical countermeasures to include the requisite capabilities, flexibilities, and strategies to secure needed medical supplies to meet the nation's public health preparedness and response requirements.
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MGTX | Hot Stocks08:37 EDT MeiraGTx expects cash to fund requirements into 1Q26 - As of December 31, 2023, MeiraGTx had cash and cash equivalents of approximately $129.6 million. In addition, the Company received a milestone payment of $50.0 million in the first quarter of 2024 from Janssen in connection with the asset purchase agreement and expects to receive $10.1 million from receivables which is expected to be collected in the first quarter of 2024 from Janssen in connection with the collaboration agreement. The Company believes that with such funds, as well as anticipated near-term milestones from Janssen under the asset purchase agreement, it will have sufficient capital to fund operating expenses and capital expenditure requirements into the first quarter of 2026. This estimate does not include the $285.0 million in milestones the Company is eligible to receive under the asset purchase agreement upon first commercial sale of bota-vec in the United States and in at least one of the United Kingdom, France, Germany, Spain and Italy, for completion of the transfer of certain manufacturing technology to Janssen and upon regulatory approval of a Janssen-selected manufacturing facility in each of the United States and European Union for commercial manufacture of bota-vec.
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IVCGF... | Hot Stocks08:33 EDT Iveco Group, Ford Trucks sign MOU to examine potential synergies - Ford Trucks, the heavy commercial brand of Ford Otosan, and IVECO, have signed a non-binding Memorandum of Understanding to explore a potential collaboration on development of a new cabin for heavy-duty commercial vehicles. The non-binding MoU is a preliminary step in assessing the potential for the two companies to cooperate in the co-development of new products and technologies, encompassing components and systems within the cabin. This agreement has the aim of enhancing competitiveness and improving solutions in compliance with the EU Direct Vision Standard and improving aerodynamics for CO2 reduction through the development of a mutually beneficial partnership between Ford Trucks and IVECO.
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BLDP | Hot Stocks08:33 EDT Ballard Power awarded $40M in Department of Energy grants - Ballard Power has received notification from the Hydrogen and Fuel Cell Technologies Office within the Department of Energy - DOE - that Ballard's applications for two grants totaling $40M under the Clean Hydrogen Electrolysis, Manufacturing, and Recycling Program have been selected and recommended for negotiation of financial awards. The grants will support Ballard's construction and build-out of an integrated fuel cell production Gigafactory based in Rockwall, Texas. In Phase I, Ballard plans to invest approximately $160M net of the $40M in expected DOE grants, from 2024 through the end of 2027 to build and commission a new manufacturing facility with annual production capacity of 8 million membrane electrode assemblies, 8 million bipolar plates, 20,000 fuel cell stacks, and up to 20,000 fuel cell engines per year, or the equivalent of 3 gigawatts of fuel cells. The land acquisition rights and facility design provide Ballard with optionality for additional future phases at the Rockwall site. Ballard expects to make a final investment decision on this facility later in 2024. The $40M in total DOE grants comprise a $30M grant relating to advanced proton exchange membrane MEAs and automated stack assembly, with the additional $10M grant relating to a next-generation flexible graphite bipolar plate manufacturing line.
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OSIS | Hot Stocks08:33 EDT OSI Systems receives $15M order from healthcare OEM - OSI Systems announced that its optoelectronics and manufacturing division has received an order for approximately $15M to provide critical electronic sub-assemblies for a healthcare original equipment manufacturer, or OEM, known for innovative and specialized medical solutions.
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IVCGF | Hot Stocks08:31 EDT Iveco Group sees 2028 adjusted diluted EPS exceeding EUR 3.00 per share - On the back of the individual ambitions of its Business Units, Iveco Group announces ambitious targets for 2028. These goals reflect the Group's commitment to its continued growth and its confidence in its ability to deliver on its promises. The 2028 Iveco Group's financial targets are, for the Industrial Activities: Net Revenues of approximately EUR 19 billion; Adjusted EBIT margin of 7 to 8%; Free Cash Flow of approximately EUR 0.9 billion. At Group level: Adjusted Net Income of approximately EUR 0.9 billion; Adjusted diluted EPS exceeding EUR 3 per share.
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GOCO | Hot Stocks08:31 EDT GoHealth sees 2024 revenue flat, operating cash flow flat to slightly up - On the Q4 earnings conference call, GoHealth said it expects 2024 submission volume to grow in line with the overall Medicare market. Additionally, it expects revenue to be flat year-over-year with incremental operating efficiency, resulting in modest margin expansion, and expects cash flow from operations flat to slightly up.
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IVCGF | Hot Stocks08:29 EDT Iveco Group introduces new structure of reporting performance by business unit - Iveco Group introduces a new structure of reporting performance by business unit, providing additional clarity on the individual performances of Powertrain, Bus, Defence, Truck and Financial Services. Each unit has its own unique "Unlimited Pathway", reflecting its performance, future targets and potential upsides. The Fire Fighting Business Unit is not included in the new Strategic Business Plan of Iveco Group, nor in the related projected financials. As the Group announced to the market yesterday, it has just signed a definitive agreement for the transfer of its ownership to Mutares, a publicly listed investment group specialized in similar situations. POWERTRAIN: The Powertrain Business Unit is one of the top three independent engine manufacturers globally. The Unit's focus on both Internal Combustion Engines and ePowertrains positions it uniquely for the shift towards alternative fuels and electrification, ensuring a sustainable and profitable future. With a diversified portfolio and a robust capacity for innovation, the Powertrain Business Unit aims to reach between EUR 5.5 and EUR 6 billion in Net Revenues by 2028 and is targeting double-digit profitability, which means growing its Adjusted EBIT margin by roughly 100 basis points every year, up to 9.5-10.5% at year-end 2028. BUS: The Bus Business Unit relies on its full offering of vehicles across all segments and on a strong focus on local communities. An investment of EUR 600 million in advanced technology between 2024 and 2028 will ensure the unit remains at the forefront of the industry, particularly in the area of zero-emission vehicles. The Bus Business Unit aims to reach between EUR 3 and EUR 3.5 billion in Net Revenues by 2028 and is determined to increase the scale of business and optimise operations so as to almost double its profitability versus 2022, reaching 7-8% by 2028. DEFENCE: Within Iveco Group, Defence functions as an independent and self-sufficient Business Unit, which emphasizes technological innovation, operational excellence, and strategic partnerships. Its strengths reside in its capability and adaptability to fulfil specific customer needs, thereby continuing to responsibly support numerous countries worldwide in keeping their communities safe. The Business Unit is accelerating its growth, supported by an order book today already exceeding EUR 4 billion. It projects to reach between EUR 1.2 and EUR 1.3 billion in Net Revenues by 2028, with an Adjusted EBIT margin of 12 to 13%. TRUCK: The Truck Business Unit aims to leverage its leadership in the Light Commercial Vehicle segment with the Daily and eDaily, and in the medium-duty truck range with the well-known Eurocargo, while improving the margins of its Heavy-Duty Truck segment with the S-Way and S-eWay models. Technological innovation, financial discipline and strategic partnerships will drive its success. The Unit aims to reach EUR 11.0-11.5 billion in Net Revenues by 2028 with an Adjusted EBIT margin of approximately 7%. FINANCIAL SERVICES: The Financial Services Business Unit is focused on maintaining its current successes while pioneering new, sustainable mobility solutions, including those provided by GATE, the 100% e-born and digital native platform for medium-long-term pay-per-use rental of electric commercial vehicles. The Unit aims to grow its captive portfolio at between EUR 8 to EUR 9 billion versus EUR 6.9 billion in 2023, with an Adjusted EBIT in the range of EUR 130 to EUR 150 million by 2028.
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IVCGF | Hot Stocks08:27 EDT Iveco Group reveals four key pillars for future growth - The Group's pathway is underpinned by four key pillars: Innovation, Financial Discipline, Partnerships and Sustainability. These pillars drive the success of each Business Unit and enable the overall Group to collectively withstand external challenges and focused spending. Innovation: Iveco Group fully backs the investments it has made since operating as an independent Company and will invest over EUR 5.5 billion from 2024 to 2028 in order to stay on the front end of the very fast innovation curve. The Company is driving Innovation in three key areas: Energy Transition, Artificial Intelligence & Software Defined Vehicles, and Autonomous Driving. In Energy Transition, the Company reaffirms its aim to reach net zero carbon emissions by 2040. Instrumental to this achievement is Iveco Group's multi-propulsion approach that includes green and zero-emission solutions. These will be backed by innovative pay-per-use business models, such as GATE - Green & Advanced Transport Ecosystem. Initially launched in Italy in mid-2023, with a focus on Iveco Group's ZEV, GATE's five-year ambition is to scale up, evolving into a brand-agnostic platform open to other OEMs' vehicles. Artificial Intelligence is central to Iveco Group's customer-centred innovations, with Generative AI enabling significant advancements in areas such as data analysis, machine-human interaction, and software development. Software Defined Vehicles, powered by AI algorithms, are set to revolutionise the industry, simplify vehicle updates, and increase customer productivity. To remain on top of these trends, Iveco Group has inaugurated its own Software & Analytics Lab, with plans for a team of 500 specialised engineers in the coming years. Iveco Group is already testing Autonomous Driving on public roads in Europe. For this development and its swift commercialisation, collaboration with PLUS, a global provider of self-driving truck technology, alongside other truck OEMs is fundamental. These advancements offer already today highly automated driver assistance systems to drivers and fleet owners. Financial Discipline" Iveco Group is committed to increasing its cash generation potential and reducing seasonality where possible. At the same time, the continued focus on cost optimization and efficiency will further decrease product costs and maintain a lean SG&A structure, that by 2028 is projected to be reduced by 50 basis points versus 2023. The Company's prior operational excellence programme set a target to save EUR 1 billion in the 2019-2026 timeframe. At the end of 2023, Iveco Group was in line with its goal, having set aside EUR 300 million in operational efficiencies, plus another EUR 600 million of improved profitability in terms of volumes, mix and pricing. With the new plan, starting with 2024, the Company is committing to EUR 1 billion of efficiencies, split in EUR 600 million by 2026 and another EUR 400 million by 2028. This will be accomplished through the implementation of a detailed set of initiatives, aimed at reducing product complexity, optimizing best-cost-countries sourcing, maximizing manufacturing efficiencies, and exploiting several commercial and technical levers. In terms of investments, the EUR 5.5 billion projected over the next five years are split between Capex and capitalized R&D. More than 50% of total investments is not bound by compliance or regulatory restrictions, thus allowing for swift adaptation to market dynamics as and when necessary. The Group will prioritize investments that offer attractive returns and will continue to explore cooperation opportunities to optimize spending, demonstrating a disciplined investment profile. Partnerships: Iveco Group is extending and deepening its partnership with Hyundai Motor Company in the area of electric heavy-duty truck solutions, including both battery electric trucks and fuel cell electric trucks for European markets. By leveraging the advanced technologies and assets of each party, the two companies expect to accelerate the transition to a sustainable future. Since initiating their partnership in March 2022, Hyundai Motor and Iveco Group have achieved a series of significant milestones. Notably, in September 2022, they unveiled the first IVECO eDaily Fuel Cell Electric Vehicle at the IAA Transportation event in Hanover. This was followed by the debut of the IVECO BUS E-WAY H2 in October 2023 at Busworld in Brussels. Most recently, in February of this year, the two companies announced the signing of a supply agreement for an IVECO-badged all-electric light commercial vehicle for Europe, based on Hyundai's eLCV platform. Also today, IVECO and Ford Trucks, the heavy commercial vehicles brand of Ford Otosan, announce a non-binding Memorandum of Understanding to explore a collaboration on the development of a joint cabin structure for heavy-duty trucks compliant with the new regulations coming into force in 2028/2029. This is a preliminary step in the co-development of new products and technologies, encompassing components and systems within the cabin. Sustainability: Sustainability is a key pillar for Iveco Group. The Group's actions are designed to have a positive impact on its people and on broader society. Building on early achievements, Iveco Group has set even more ambitious Sustainability targets, including: By 2026, 100% of total electricity consumption will come from renewable sources. This target's deadline was anticipated from 2030 to 2026; The Group aims to recycle 75% of industrial water at company plants worldwide by 2026, versus the previous target of 60%; The new 2028 target for gender parity is for 30% of office positions to be held by women. Therefore, the Group will widen and raise its scope to include all female employees across every phase of their career.
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IVCGF | Hot Stocks08:25 EDT Iveco Group unveils strategic plan to 2028 - Iveco Group presents a new Strategic Plan, outlining objectives up to 2028 during the Company's Capital Markets Day held today in Turin, Italy. In its prior strategic plan from 2021, Iveco Group targeted total Net Revenues of Industrial Activities at between EUR 16.5 and EUR 17.5 billion by 2026 and it achieved EUR 15.9 billion by year-end 2023, proving to be fully on track. The 2026 Adjusted EBIT margin of Industrial Activities was to reach between 5 and 6% which the Company already achieved in 2023. For the Free Cash Flow from Industrial Activities, Iveco Group targeted EUR 500 million in 2026 and already reached more than EUR 400 million in 2023, ahead of the previous target trajectory. These are outcomes largely attributable to the company's focused delivery and 'one team' approach, which unites its global workforce of over 36,000 employees towards a common purpose. Gerrit Marx, CEO, Iveco Group, said, "The first of our values states that 'we go beyond the obvious'. It embodies the soul of our Group and clearly reflects our ambition to consciously push limits and courageously set out on new pathways. We have demonstrated that we can fulfil the promises we make. Today we commit ourselves to a new plan, an acceleration of our product portfolio, stronger and more diverse partnerships, and a dial up our sustainability journey. We will deliver these commitments because the pathways and opportunities in front of us and our five business units are exciting and unlimited. Moreover, while we are drawing upon possibilities internally, we will continue exploring powerful opportunities outside. We will always go beyond the obvious."
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AMIX | Hot Stocks08:24 EDT Autonomix completes first three procedures in human trial of RF ablation - Autonomix Medical announced the safe completion of the first three patient procedures for its proof-of-concept human clinical trial evaluating the use of transvascular RF ablation for the treatment of pancreatic cancer pain. The primary objective of the PoC human clinical trial 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. Twenty subjects will be enrolled at one clinical trial site for the trial. Confirmation of suitability will be affirmed by the primary oncology service caring for the patients. Up to 5 additional patients will be included and treated according to protocol to ensure the physician's familiarity with the procedure. However, they will not be included in the analysis of the trial objectives. Enrollment is expected to be completed before the end of 2024.
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TOI | Hot Stocks08:23 EDT The Oncology Institute, MaxHealth expand value-based care partnership - The Oncology Institute and MaxHealth announced a comprehensive new agreement. Under this full-risk arrangement, TOI will assume clinical and financial responsibility for all oncology care provided to patients in Pinellas, Hillsborough, Polk, Broward, and Miami-Dade Counties. This innovative payment model aligns seamlessly with MaxHealth's existing value-based care agreements with large managed care organizations.
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APLD | Hot Stocks08:22 EDT Applied Digital secures contract with Together AI - Applied Digital announced the onboarding of another AI customer, Together AI. Applied Digital received a contract prepayment of $18 million as part of the $75 million contract, in connection with which it has fully onboarded one compute cluster of GPUs and has provided access to its second cluster. Together AI is a research-driven artificial intelligence company contributing to leading open-source research, models, and datasets to advance the frontier of AI. The company's decentralized cloud services empower developers and researchers at organizations of all sizes to train, fine-tune, and deploy generative AI models. Together AI will be running on Applied Digital's dynamic computing ecosystem, custom-built to meet the rigors of AI's demanding tasks and data-rich optimizations. The structure boasts H100 GPUs and is seamlessly interconnected via high-speed InfiniBand fabric, delivering an aggregated bandwidth of 3.2 Tbps. The communication between the GPUs will be enhanced by NVIDIA's NVLink technology, adhering to an optimized Rail Design.
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MGNI | Hot Stocks08:21 EDT Magnite, MediaOcean enter exclusive partnership for automation - Magnite announced an exclusive partnership to bring deeper automation and greater supply path efficiency to Mediaocean's Prisma buyers for connected TV and online video. This partnership enables Prisma users to activate streaming campaigns directly with premium video sellers through Magnite's ClearLine solution. The partnership builds on the 2023 deal to bring Magnite's streaming inventory into Mediaocean's ad infrastructure for local TV buyers. ClearLine provides brands and agencies with direct access to premium video inventory on Magnite's platforms. Magnite's supply footprint spans 90+ million CTV households in the US, accounting for over 90% of ad-supported CTV viewers in the country. As a result of this integration, Mediaocean buyers will be able to purchase CTV and OLV inventory directly through Magnite from media owners, including A&E Networks, AMC Networks, DIRECTV Advertising, DISH Media, Disney Advertising, FOX Digital, LG Ad Solutions, VIZIO, and Warner Bros. Discovery.
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RUM | Hot Stocks08:19 EDT Rumble Cloud enters partnership with ACP CreativIT - Rumble announced a strategic partnership with ACP CreativIT. This partnership will strengthen Rumble Cloud's focus on North America while expanding its offering with a wider range of complementary services and solutions using the Rumble Cloud infrastructure. The combined effort allows Rumble Cloud customers to optimize their IT operations and business continuity while enhancing data privacy and security.
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AUUD | Hot Stocks08:18 EDT Auddia announces beta program for subscription podcasting - Auddia announced its new pay-per-play beta program for podcasters and networks. The program will treat podcast plays and downloads similar to streaming music, where content owners receive a direct payment based on how many streams they receive. The program targets a specific segment of podcast listeners: listeners that skip the majority of ads and refuse to subscribe to exclusive or ad-free feeds at the show or network level. Partners in Auddia's pay-per-play program will have their episodes downloaded in full, with ads included, but listeners will be given controls that allow them to fast forward through ad breaks automatically, requiring no technological heavy lifting on the podcaster's end. When subscribers play a partner's episode, Auddia tracks the activity and delivers a payment based on the agreed-upon per-play rate, which is based on the podcast's current revenue-per-play and average CPM.Partner podcast episodes will be delivered through Auddia's Seamless Play technology, leveraging the Company's AI and NLP technologies for segment-identification and ad-avoidance. Users will be treated to episodes where the app fast forwards through ad breaks automatically, rather than requiring the end user to manually fast forward. Each play or download will be logged, and partners will be compensated at an agreed-upon rate on a monthly basis. Alongside the Seamless Play functionality, Auddia will also release new seek forward functionality called Forward+. Using the Company's patented segment-identification technology, Forward+ will allow users to fully fast forward to the next identified segment of content. This functionality will be launched in faidr in the next major release this year as a beta test. The Company is working to increase the accuracy and number of separate segments the model can identify per episode as it simultaneously develops the APIs required to offer the features to other players via a SaaS model. The Company is in talks with a number of potential partners and hopes to announce the first group of pay-per-play beta participants in the coming weeks.
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ZS | Hot Stocks08:17 EDT Zscaler announces AI innovations for Zscaler Zero Trust Exchange data - Zscaler announced another leap forward in artificial intelligence innovations that extends the Zscaler Zero Trust Exchange data, from more than 400 billion daily Zscaler transactions with Avalor's Data Fabric for Security with over 150 pre-built integrations enabling customers to proactively identify and predict critical vulnerabilities as well as improve operational efficiencies. By leveraging its massive data foundation, Zscaler is poised to transform the AI capabilities for the cybersecurity industry to not only enable organizations to mitigate risks and optimize performance but also pave the way for zero-touch operations. The rapid advancement of AI will have pivotal impacts to the cybersecurity industry and to effectively combat AI-led threats, organizations must fully harness their currently isolated security data at massive scale. Zscaler's 16 years of leadership operating the world's largest cloud security platform has allowed it to leverage a massive data set to develop its pioneering AI-driven solutions, including Zscaler Risk360 and Zscaler Business Insights, which set a new benchmark for proactive cybersecurity and business intelligence.
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INFN | Hot Stocks08:15 EDT NBN selects Infinera's GX Series platform, ICE-X intelligent coherent pluggables - Infinera announced that NBN Co has selected Infinera's GX Series platform and ICE-X intelligent coherent pluggables to help upgrade its nationwide optical network. The combined solution, spanning metro, regional and long-haul transport, will expand the capacity of nbn's nationwide network and enable the company to enhance delivery of high-speed services to its wholesale customers.
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CRL | Hot Stocks08:15 EDT Charles River and Navega announce an AAV9 production program agreement - Charles River Laboratories and Navega Therapeutics announced an AAV9 production program agreement. As part of Charles River's Cell and Gene Therapy, CGT, Accelerator Program, CAP, Navega will have access to established contract development and manufacturing or CDMO, capabilities and advisory services to produce an adeno-associated virus, AAV-based gene therapy, NT-Z001, for Phase I clinical trials.Navega is pursuing an approach for treatment of chronic pain associated with rare diseases such as small fiber neuropathy and primary erythromelalgia by harnessing the precision of its AI-enabled zinc-finger epigenome regulation platform. Navega's epigenetic therapy addresses a gain-of-function mutation in the Nav 1.7 gene, linked to inherited erythromelalgia, small fiber neuropathy and other chronic, debilitating pain disorders. With over 17 million Americans living with high-impact chronic pain, Navega's non-opioid gene therapy for chronic pain may also be used in other intractable pain indications, including neuropathic and inflammatory pain. Plasmid and Viral Vector CDMO Solutions To bring NT-Z001 to clinic, Navega will leverage Charles River's off-the-shelf plasmid products, custom plasmid capabilities, and Good Manufacturing Practice or GMP-grade AAV production. "The collaboration with Navega will tap into our premier gene therapy CDMO capabilities and robust AAV offerings. We are thrilled that our expertise will help bring Navega's gene therapy closer to patients suffering with chronic pain." - Kerstin Dolph, Corporate Senior Vice President, Biologics Solutions, Charles River
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NVEE | Hot Stocks08:14 EDT NV5 Global acquires Fluhrer Reed, terms not disclosed - NV5 Global has acquired Fluhrer Reed, a provider of structural engineering and forensics engineering services in the Research Triangle of North Carolina, one of the nation's fastest growing markets. Founded in 1999, Fluhrer Reed engineers utilize the latest building information modeling and analytic software to deliver creative, practical, and structurally sound solutions for educational, life sciences, industrial, and multifamily residential buildings. The acquisition strengthens NV5's existing structural engineering group and provides additional expert witness resources to support NV5's growing forensics engineering business. Additionally, Fluhrer Reed's services strategically complement NV5's mechanical, electrical, plumbing, and technology design offerings for facility renovations and new construction. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5's earnings.
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TMC | Hot Stocks08:14 EDT Metals Company 'applauds' letter on ratifying UNCLOS treaty - TMC the metals company welcomed a letter from around 350 former U.S. government officials and military officers urging the U.S. Senate to re-evaluate a formal vote on ratifying the United Nations Convention of the Law of the Sea treaty. The letter, which follows this week's introduction of the Responsible Use of Seafloor Resources Act in Congress, was signed by around 189 American ambassadors, 73 generals, 50 admirals, four directors of national intelligence and scores of other distinguished supporters. The co-signatories warned how "China and Russia have taken advantage of our absence to work actively to undermine critical United States economic and national security interests," and that the U.S. had "already lost two of our four 'USA' designated deep seabed mine sites, each containing a trillion dollars in value of the strategic minerals of copper, nickel, cobalt, manganese and rare earths" needed for national security and the energy transition. Since the turn of the decade, increasing U.S. investment in and prioritization of offshore mineral exploration has been codified through the formation of various bodies including the National Ocean Mapping, Exploration, and Characterization Council in 2020, the Ocean Policy Committee formed via direction of the National Defense Authorization Act in 2021, and the declaration of outer limits of the U.S. extended continental shelf in 2023 which declared U.S. rights to approximately one million square kilometers of subsea territory in an effort to protect future economic opportunities. Although the U.S. has yet to ratify UNCLOS - a legislative step that would enable it to access the vast, untapped critical minerals found in seafloor nodules in international waters - it can still process and refine critical minerals extracted from polymetallic nodules collected in international waters.
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SNAL | Hot Stocks08:12 EDT Snail announces update of Survivor Mercs - Snail recently shared the latest significant update for Survivor Mercs, an Early Access rogue-lite action game. This update introduces enhancements that deepen strategic gameplay and enrich the player experience, bringing Survivor Mercs closer to the release of its full 1.0 version. These improvements not only enhance the player experience but also aim to expand the game's market appeal.
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KROS | Hot Stocks08:11 EDT Keros Therapeutics announces Fast Track designation for KER-050 - Keros Therapeutics announced that the U.S. Food and Drug Administration has granted Fast Track designation for KER-050 for the treatment of anemia in adult patients with very low-, low-, or intermediate-risk myelodysplastic syndromes.
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AMRC | Hot Stocks08:10 EDT Ameresco announces contract for upgrades at Canada military base - Ameresco announced a contract to design, engineer and implement energy upgrades across 124 buildings covering 4.6M square feet at Canadian Forces Base in Edmonton, Canada.
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BAK | Hot Stocks08:10 EDT Braskem to use feedstock to make bio-attributed and bio-circular polypropylene - Shell Chemicals recently started to supply Braskem with bio-attributed and bio-circular propylene feedstocks, based on a mass balance approach and independently certified by a third party. Braskem will utilize such feedstocks for the manufacture of bio-attributed and bio-circular polypropylene enabling more sustainable options for growing consumer demand in the packaging, film, automotive, and consumer goods markets. Mark Nikolich, Vice President of Olefins and Polyolefins, Braskem North America stated, "Braskem is a leader in the innovation and production of bio-based materials, and we continue to see demand grow for more renewable solutions in our markets. In January 2023, we communicated the evaluation of a Braskem-led project to produce bio-based propylene in the U.S. With today's announcement, we will continue to focus our work on sources of sustainable propylene, in this case, bio-attributed and bio-circular, to support our polypropylene clients in meeting their carbon reduction and circularity goals. This is possible because of forward-thinking suppliers like Shell. Ultimately, we believe that these different renewable solutions are complementary and important steps forward as the plastics industry evolves to a more sustainable future. We will continue to develop and provide solutions to support our global clients in reaching their sustainability goals."
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JFBR | Hot Stocks08:10 EDT Jeffs' Brands launches pest-repellent product line under Fort brand - Jeffs' Brands announced the expansion of the Fort brand, under its wholly owned subsidiary Fort Products, with the launch of a novel line of pest control solutions. This new product range, characterized by its innovative pest-repellent technology, marks a significant advancement in the pest control industry, offering consumers dozens of unique products designed to effectively repel pestsin a non-lethal manner. These newly launched pest control products are already available for purchase, addressing specifically the European market and targeting multiple sectors including residential, commercial, and agricultural uses.
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SXTP | Hot Stocks08:09 EDT 60 Degrees announces FDA communication on trial protocol submission - 60 Degrees announced that the U.S. Food and Drug Administration has communicated its intention to send any comments regarding the Company's babesiosis trial within the month of April, 2024, rather than March, 2024 as anticipated by the Company. The protocol submission mechanism as directed by the FDA, i.e., under the Company's existing Investigational New Drug application, technically does not require a response from the FDA within a specified time frame. The Company is continuing preparations for a June 1, 2024 start date as previously communicated. Tafenoquine is the active ingredient in an anti-malarial approved by the FDA in 2018 and is indicated for the prophylaxis of malaria in patients aged 18 years of age and older
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SAIC | Hot Stocks08:07 EDT SAIC receives $284M in contract awards from intelligence community - SAIC announced it received $284M in awards from the United States intelligence community in January and February of 2024. Comprising the bulk of the total value, SAIC was informed of two awards larger than $100M and the first task order of a single-award indefinite delivery, indefinite quantity contract. The work spans several capability areas including data, AI and engineering.
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LICN | Hot Stocks08:05 EDT Lichen China subsidiary in Singapore begins operations - Lichen China announced its expansion into international markets. Lichen China established its subsidiary in Singapore in December 2023 and has now officially started operations. The company has appointed Robert Bodenstein, Chair of the International Council of Management Consulting Institutes, as its new independent director, as the first step in expanding its reach into Southeast Asia.
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PYCR | Hot Stocks08:03 EDT Paycor HCM named official HR & payroll provider of the Los Angeles Rams - Paycor HCM was named the official Human Resources - HR - and payroll provider for the Los Angeles Rams, SoFi Stadium and Hollywood Park in a multi-year partnership. Paycor's HR software was selected to help all three organizations streamline workflows and modernize people management, from recruiting and onboarding to career development and growth. Paycor will have hospitality, signage and digital activations at Los Angeles Rams' home games, and serve as the presenting partner of "The House," the Rams' VIP pregame tailgate.
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HD | Hot Stocks08:03 EDT Home Depot expands Pro ecosystem, to open four new distribution centers - The Home Depot is opening four new distribution centers, expanding its pro ecosystem to Detroit, southern Los Angeles, San Antonio and Toronto in 2024. The new facilities are a key component of The Home Depot's strategy to better serve pro customers - whether they're the pro customers that The Home Depot has traditionally served through the store, or pros working on larger, more complex projects. The new distribution centers will stock large, bulky merchandise like lumber, insulation, roofing shingles and more. With a network of distribution centers stocking a variety of product types, pros can order job lot quantities of the products they need to complete their entire projects, delivered directly to their job sites. The new distribution centers are expected to open in the first half of the year.
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GAME | Hot Stocks07:56 EDT GameSquare's Stream Hatchet launches AI-powered news platform - Stream Hatchet announced the launch of its AI-powered news platform and a significant website upgrade. Stream Hatchet's new website, streamhatchet.com, elevates traditional news sources by creating a dynamic AI-driven insights hub that delivers daily articles on relevant live streaming, gaming, esports, and social media topics. It provides users with a unique, timely and informed perspective on industry trends by analyzing billions of data points daily from Stream Hatchet's proprietary business intelligence software to recommend the most important news. The backbone of Stream Hatchet's intelligence is powered by an upgraded, interactive, and customizable command center. Driven by AI insights, users can now filter data by category, channels, games, and enjoy a personalized dashboard. Stream Hatchet's proprietary AI system was built internally to help find the most relevant insights and data points inside of their platform
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IE | Hot Stocks07:54 EDT Ivanhoe Electric announces application of CGI software at Tintic Project - Ivanhoe Electric and its subsidiary, Computational Geosciences are pleased to provide an update on CGI's proprietary software applications used to interpret Typhoon data. CGI continually improves its proprietary algorithms, leveraging advanced machine learning data processing technologies, to deliver higher quality Typhoon geophysical inversion models with quicker turnaround times. Ivanhoe Electric owns 94% of CGI. Taylor Melvin, President and CEO, commented: "We believe Computational Geosciences has the mining industry's most powerful machine learning software application available. CGI's proprietary algorithms are capable of analyzing the massive amounts of data generated by our ground-based Typhoon geophysical surveying system. We are excited to apply the same cutting-edge version of CGI's software at Tintic that we are currently using in Saudi Arabia and at our other more recent American exploration projects. CGI's latest software improvements allow us to analyze more data, more quickly, and generate clearer models to guide future discovery. We are now beginning to test the refined targets around the historically productive Mammoth copper-gold-silver mine at Tintic, Utah, with directional drilling equipment." Through continuous research and development, CGI's innovations harnesses the power of machine learning algorithms to improve data processing capacity, processing times, and to enhance the signal-to-noise ratio of input data through improved data utilization. This effort has led to faster inversion model delivery times and improved three-dimensional inversion models. CGI continues to lead the transformation of geophysical data processing and three-dimensional inversion.
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ARWYF | Hot Stocks07:53 EDT ARway announces launch of ARway V3.0 - ARway.ai announced the launch of ARway V3.0, an update to its spatial computing platform providing augmented reality navigation and immersive experiences. The new V3.0 technology updates and features include peripheral markers, an SDK update, advanced SLAM, anchored floorplan pegs, updated location pin indicator, low light and stability notification, drift notification, and amenity pin uplift.
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DPMLF | Hot Stocks07:51 EDT Dundee Precious Metals announces renewal of normal course issuer bid - Dundee Precious Metals announced that the Toronto Stock Exchange accepted its notice of intention to renew its normal course issuer bid to purchase certain of its common shares through the facilities of the TSX. The Company commenced a normal course issuer bid on March 1, 2023, which terminated on February 28, 2024. Under the Previous Bid, the Company sought and obtained approval to purchase up to 16.5 million Shares, being approximately 9.8% of the Company's public float as of February 16, 2023. The Company repurchased 9,186,706 Shares under the Previous Bid. The number of Shares that may be purchased during the period of the New Bid, which will commence on March 18, 2024, and terminate on March 17, 2025, will not exceed 15.5 million Shares, being approximately 9.8% of the Company's public float of Common Shares as of March 6, 2024. All purchases made pursuant to the New Bid will be made through the facilities of the TSX or other alternative trading systems in accordance with applicable Canadian securities laws and Shares purchased pursuant to the New Bid will be cancelled. Pursuant to the terms of the New Bid, the Company will not acquire on any given trading day more than 137,811 Shares, representing 25% of the average daily trading volume of Shares for the most recently completed six-month period, being 551,244 Shares, other than block purchase exceptions.
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BDRBF | Hot Stocks07:50 EDT Bombardier announces partial redemption of senior notes - Bombardie has issued a notice of partial redemption for $100 million principal amount of its outstanding 7.875% Senior Notes due 2027, which redemption will be paid using cash from its balance sheet. As set forth in the notice of partial redemption issued today in respect of the Redemption Notes, the redemption date is April 15, 2024, and the redemption price for the Redemption Notes is 100.00% of the principal amount redeemed, plus accrued and unpaid interest. On March 14, 2024, a copy of the notice of redemption with respect to the Redemption Notes was issued to record holders. Payment of the redemption price and surrender of the Redemption Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company on April 15, 2024.
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PPBT | Hot Stocks07:49 EDT Purple Biotech reports preclinical proof of concept for tribody platform tech - Purple Biotech reported preclinical proof of concept data for its conditionally-activated tri-specific antibody platform. Using 5T4-expressing lung cancer PDE model, where the immune cells and the tumor cells are derived from the same patient, the studies showed a synergistic effect of the T cell engager and NK cell engager arms. While each bispecific agent, 5T4xCD3 or 5T4xNKG2A, showed only low response, the tribody platform's leading candidate IM1240 having both engagers in one product, demonstrated a synergistic strong anti-tumor response. This effect is activated through the presence of 5T4 positive tumor cells. The advantage of the 5T4 arm was also validated using in-vitro PBMC-mediated cytotoxicity of cancer cell line studies which demonstrated 5T4-specific effect. While cytotoxicity at pM range was observed in 5T4-positive lung and breast cancer cells, no effect was observed against 5T4-negative cancer cells. Purple Biotech's cleavable capping technology confines the compound's therapeutic activity to the local tumor micro environment, which increases the anticipated therapeutic window in patients. This cap is attached to the anti-CD3 moiety and blocks its interaction with circulating CD3 positive T cells, thereby impeding potential off-tumor adverse reactions and also improving PK properties. The cap is designed to be cleaved off by multiple TME-specific proteases, which increase the likelihood for cleavage by many tumor types. Upon removal of this cap, the anti-CD3 moiety of the molecule is freed to bind and activate T lymphocytes against the tumor via CD3.
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PROP | Hot Stocks07:48 EDT Prairie Operating Co. announces approval of Genesis Oil & Gas Development Plan - Prairie Operating Co. announced the Colorado Energy and Carbon Management Commission approved the Company's Genesis I Oil & Gas Development Plan. The Genesis I OGDP encompasses 72 wells on two pads, developing 9-square miles of subsurface minerals in rural Weld County, Colorado. The two pads, the Burnett and Oasis, will develop up to 18 three-mile lateral wells and up to 54 two-mile lateral wells, respectively. Combined with the previously announced bolt-on acquisition earlier this year, the Company has added 80 new wells to its inventory in 2024 and will soon have over 140 permits upon the anticipated closing of the Nickel Road Operating asset acquisition announced in January. In addition, Prairie has commenced work on the preparation and submission of a second Genesis OGDP, consisting of up to 5,760 mineral acres of subsurface development, with two pad locations drilling between 42 and 54 planned wells. The Company is targeting an April 2024 submittal for the Genesis II OGDP with the ECMC.
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DKNG | Hot Stocks07:46 EDT DraftKings launches 'My Stat Sheet' tool - DraftKings unveiled My Stat Sheet, a gaming tool that gives players the ability to assess, track and interact with their personal stats through intuitive charts and information that will help empower players to make data-driven decisions on their own play and therefore promote responsible gaming. This new feature is now available across all DraftKings and Golden Nugget products. Customers can view time spent on the platform, deposits, withdrawals, contest involvement, wagers placed, and net win/loss across monthly, yearly, and lifetime views through intuitive charts and filtering options. My Stat Sheet is accessible to all customers through all DraftKings platforms.
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WIT | Hot Stocks07:45 EDT Wipro selected by Desjardins to transform credit solutions - Wipro announced that it has been selected by Desjardins to transform their credit solutions for members and clients. Wipro Gallagher Solutions', a Wipro Company, flagship NetOxygen solution will integrate and manage Desjardins' multiple in-house and legacy systems to bring all their Loan Origination Systems into one platform. This transformation program will provide Desjardins members and clients with a convenient digital lending experience that is accessible anytime, anywhere, and on any device. It will also eliminate operational tasks through automation, enabling Desjardins employees to focus on advisory services and the handling of more complex transactions.
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MBXBF | Hot Stocks07:44 EDT Microbix Biosystems says partner Sequel Pharma executes CDMO agreement - Microbix Biosystems announces that its funding and commercialization partner, Sequel Pharma, has executed, with support from Microbix, an agreement with a leading international contract development and manufacturing organization for production of the active ingredient of Kinlytic urokinase, a biologic drug for dissolving blood clots. Sequel is a U.S. based specialty pharma company with expertise in developing and commercializing niche drugs. It has committed to provide all funding needed to return Kinlytic to global markets, initially for the US$ 350 million U.S. market for dissolving clots in indwelling venous catheters. Kinlytic is an enzyme derived from human cell cultures that dissolves the material of a blood clot. Kinlytic is already approved for clinical use in the U.S. and the parties' work is to validate new manufacturing for the drug and to re-enter the market by way of a supplemental biologics licensing application. The referenced CDMO agreement is for all actions necessary to resume production of Kinlytic Drug Substance at a scale sufficient for the Catheter Clearance market. The CDMO has undertaken to complete this work over a timeframe specified by Sequel and in line with Microbix's disclosed project objectives. The work of the CDMO will be overseen by Sequel, with scientific and technical assistance from Microbix. It is Microbix's intention to update its shareholders on further Kinlytic-related achievements as they become meaningful. Anticipated future disclosures related to Kinlytic may include, among other matters, successful production of Drug Substance, contracting for manufacture of clinically-formulated drug, first production of Drug Product, and clinical, regulatory, or commercial milestones. It is anticipated that Microbix will make two to three Kinlytic-related news release disclosures each year between now and the filing of a sBLA for the project, which may occur in calendar 2026 or 2027.
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EVTL | Hot Stocks07:44 EDT Vertical Aerospace: FY23 cash used $92.9M, new VX4 prototype 'in coming weeks' - Vertical Aerospace announces that it has released its full-year 2023 Annual Report, including its financial results, alongside its latest Shareholder Letter. ...Stephen Fitzpatrick, founder and CEO of Vertical Aerospace commented: "I have never been more confident in Vertical, in our team and our technology. We will soon be unveiling our next-generation VX4 prototype, which comprises 70% new components compared to the previous one, including our more advanced propellers and proprietary battery technology. ..." Vertical expects to complete final assembly of second, more advanced full-scale VX4 prototype in coming weeks; on track to begin flight test programme ahead of intended public demonstrations at Farnborough and Heathrow. The latest VX4 includes more than 60% components from aerospace technology partners and Vertical's second-generation propellers and proprietary battery packs. FY23 net cash used in operating activities was GBP 74.7M / $92.9 M maintaining Vertical's disciplined approach to spend management... "$25M received from Stephen Fitzpatrick on 13 March 2024; a further $25 million committed on 31st July 2024" .
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RNLX | Hot Stocks07:42 EDT Renalytix's KidneyIntelX included in KDIGO 2024 Clinical Guideline - Renalytix announces that the KidneyIntelX In-Vitro Diagnostic test has been included in the final KDIGO 2024 Clinical Practice Guideline for the Evaluation and Management of Chronic Kidney Diseases, published on March 13, 2024. In the release of the new guideline, timed to coincide with World Kidney Day on March 14, the KDIGO committee highlighted the role of risk prediction in guiding care for patients. In this context, KidneyIntelX is recommended for use as an externally validated tool for predicting disease progression in people with CKD stages G1-G3. The Guideline Work Group recognized that the progression of CKD can occur at all stages, and that in earlier stages of disease, understanding the risk of 40% decline in kidney function over a short term 5 years, as per the indicated use of KidneyIntelX, is important for guiding early intervention, particularly in people at intermediate or high risk for progression. Renalytix received FDA de-novo marketing authorization for kidneyintelX.dkd in June 2023 for use in assessment of the risk of progressive decline in kidney function in patients with CKD stages G1-G3 and Type 2 Diabetes. Subsequent to the release of the draft content of this updated guideline in July 2023, further evidence has been published from clinical utility and outcomes studies with a current enrollment of more than 9,000 patients with Type 2 Diabetes and CKD G1-G3. In January 2024, published outcomes data from an analysis of more than 2,500 patients with one year of follow-up demonstrated that providing clinicians access to KidneyIntelX risk assessment to inform care was associated with clinical actions that resulted in sustained reduction in eGFR decline, improved diabetes management and improved cardiovascular health.
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IPSC | Hot Stocks07:37 EDT Century Therapeutics expects cash to support operations into 2026 - The Company expects full year generally accepted accounting principles operating expenses to be between $135 million and $145 million. The Company estimates its cash, cash equivalents, and investments will support operations into 2026.
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DCGO | Hot Stocks07:36 EDT DocGo enters 10b5-1 trading plan for additional $10M stock repurchase program - DocGo announced that as of March 12, it has repurchased a total of 1.25M shares of its common stock at an average of $3.88 per share under its share repurchase program announced on January 31. Pursuant to the repurchase program, DocGo is authorized to purchase up to $36M of its common stock during a six-month period ending July 30. DocGo also announced that it has entered a 10b5-1 trading plan to facilitate repurchases of up to an additional $10M of its common stock under the repurchase program, which will enable the continued purchase of shares during the company's quarterly blackout period that begins on March 15. The 10b5-1 plan will run through May 6.
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CGC | Hot Stocks07:36 EDT Canopy Growth's amendment proposal recommended by Glass Lewis - Canopy Growth announced that independent proxy advisory firm Glass Lewis, in its report issued on Canopy Growth's special meeting of shareholders scheduled for April 12, recommended that Canopy Growth shareholders vote in favour of the special resolution authorizing an amendment to the company's articles of incorporation, as amended, in order to create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth, and restate the rights of the common shares in the capital of Canopy Growth to provide for a conversion feature whereby each Common Share may at any time, at the option of the holder, be converted into one Exchangeable Share. Canopy Shareholders will be asked to consider and vote on the Amendment Proposal at a special meeting of Canopy Shareholders on April 12. In the analysis underpinning their endorsement of the Amendment Proposal, Glass Lewis noted the proposed change is not contrary to shareholders' interests and as such, Glass Lewis recommends Canopy Shareholders vote in favour of this proposal. On October 25, 2022, Canopy Growth announced the creation of a new U.S.-domiciled holding company, Canopy USA. Canopy USA holds all of the U.S. cannabis investments previously held by the company, which will, subject to the Amendment Proposal being approved, enable Canopy USA to exercise rights to acquire Acreage Holdings, Mountain High Products, Wana Wellness, and The Cima Group and Lemurian. Upon Canopy USA's acquisition of any of these U.S. THC businesses, Canopy Growth is expected to deconsolidate the financial results of Canopy USA and have a non-controlling interest in Canopy USA.
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CYBN | Hot Stocks07:34 EDT Cybin announces end-of-Phase 2 meeting with FDA for CYB003 - Cybin announced an End-of-Phase 2 meeting with the FDA for CYB003, its deuterated psilocybin analog for the adjunctive treatment of Major Depressive Disorder, or MDD. This program will be the first ever adjunctive Phase 3 deuterated psilocybin analog depression study globally and follows the successful completion of the company's Phase 2 study in MDD completed at the end of 2023. The company has received minutes from its End-of-Phase-2 meeting with the FDA and reached alignment on its Phase 3 program design. The company intends to commence enrollment for the multinational, multisite Phase 3 program in mid-year 2024. Fifteen U.S. study sites have been targeted, all of which have experience running psychedelic clinical trials and are DEA Schedule I licensed. The preliminary targeting of specific study sites will serve to expedite site initiation. The company intends to add approximately eight additional sites in Europe. The company has engaged Worldwide Clinical Trials, a global, full-service contract research organization with deep expertise managing clinical trials for mental health conditions, including major depressive disorder. Worldwide has a track record of successful patient recruitment for psychedelic trials and global relationships with investigative sites.
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ATHOF | Hot Stocks07:30 EDT Athabasca Oil announces renewal of normal course issuer bid - Athabasca Oil announced that the Toronto Stock Exchange has approved the renewal of the Corporation's normal course issuer bid to purchase up to 55,423,786 common shares during the 12-month period commencing March 18, 2024 and ending March 17, 2025 or such earlier time as the NCIB is completed or terminated at the option of Athabasca. The Company's current NCIB is scheduled to expire on March 15, 2024. Athabasca's renewal of its NCIB is based on the strength of the balance sheet and the Company's commitment to augmenting shareholder returns through a buyback program. The Company's capital allocation framework balances material near-term return of capital initiatives for shareholders, with a multi-year growth trajectory of cash flow per share. Athabasca sees intrinsic value not reflected in the current share price and in 2024 is planning to allocate 100% of Free Cash Flow to shareholders through buybacks. Pursuant to the NCIB, the maximum number of common shares to be purchased represents 10% of the public float, as defined by the TSX. As of March 12, 2024, the Company had a public float of 554,237,864 common shares and 564,438,104 common shares issued and outstanding. Purchases will be made on the open market through the facilities of the TSX and/or alternative trading systems in Canada at market prices prevailing at the time of the acquisition. The number of common shares that can be purchased pursuant to the NCIB is subject to a daily maximum of 746,829 common shares with the exception that one block purchase in excess of the daily maximum is permitted per calendar week. Common shares acquired under the NCIB will be cancelled.
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ORAAF | Hot Stocks07:28 EDT Aura Minerals announces normal course issuer bid, BDR buyback program - Aura Minerals announces that the Toronto Stock Exchange has accepted the Company's notice of intention to launch a normal course issuer bid for its issued and outstanding common shares listed on the TSX. The Company is also announcing the concurrent launch of a buyback program for its Brazilian depositary receipts which are listed on the B3 S.A. - Brasil, Bolsa, Balcao, for the purchase of BDRs by the Company, its subsidiaries or investment vehicles. Under the NCIB, Aura Minerals may, if considered advisable, repurchase through the facilities of the TSX and/or alternative Canadian trading systems, from time to time during the currency of the NCIB, up to an aggregate of 2,261,426 Common Shares, representing 10% of the "public float" as of March 6, 2024, subject to the normal terms and limitations of such bids. The Company may commence purchases of Common Shares under the NCIB on March 18, 2024, and the NCIB will remain in effect until the earliest of: March 17, 2025, the date upon which Aura Minerals acquires the maximum number of Common Shares permitted under the NCIB, and the date upon which Aura Minerals provides written notice of termination of the NCIB to the TSX. Under the TSX rules, the Company may purchase up to 2,657 Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 10,631 Common Shares on the TSX during the six months ended February 29, 2024, other than purchases made pursuant to the block purchase exception. The actual number of Common Shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by the management of the Company, subject to applicable law and the rules of the TSX. Aura Minerals intends to concurrently launch a buyback program for its BDRs which are listed on the B3. Each BDR represents one Common Share. Under the BDR Buyback Program, the Company may purchase from time to time over 12 months, up to an aggregate of 2,261,426 BDRs, representing 10% of the "public float" as of March 6, 2024. Purchases of BDRs under the BDR Buyback Program are expected to be made by BTG Pactual Corretora de Titulos e Valores Mobiliarios S.A. through the facilities of the B3. The BDR Buyback Program is not intended to discontinue the Company's BDR program, or cancel the Company's registration with CVM as a foreign issuer registered as a category "A" publicly-held company. As of March 6, 2024, the Company had 72,237,003 issued and outstanding common shares and a "public float" of 22,614,260 Common Shares. The Company believes that the purchases are in the best interest of the Company and constitute a desirable use of its funds.
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PLUR | Hot Stocks07:25 EDT Pluri selected as CDMO by Remedy Cell for cell-free drug manufacturing - Pluri announced that its CDMO division has signed a manufacturing agreement with Remedy Cell Ltd, an innovative, biopharmaceutical company developing stem cell-derived, cell-free therapeutics for complex fibrotic conditions. PluriCDMO will support Remedy Cell's production team in the manufacturing of a clinical-grade Working Cell Bank and GMP batches of Remedy Cell's drug candidate RC-0315, derived from mesenchymal stem cells, towards the launch of their Phase Ib clinical trial for the treatment of Idiopathic Pulmonary Fibrosis , a lethal, complex, progressive interstitial lung disorder with a median survival of 3.8 years.
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EGLXF | Hot Stocks07:24 EDT Enthusiast Gaming's Pocket Gamer Connects to host PGC San Francisco - Enthusiast Gaming Holdings announced that its next live event Pocket Gamer Connects will take place in San Francisco on March 18-19. Being held immediately prior to the Game Developers Conference, PGC San Francisco is expected to draw a large crowd of video game developers, publishers and other industry professionals to connect, do business and learn from industry leaders. In partnership with Game Connection America, PGC San Francisco will feature talks, panels, and round-tables with experts from across the mobile, PC and console games space, plus match-making meetings, networking fringe events, a lively showcase expo, an indie pitching competition and more. Speakers and sponsors include executives from brands such as Netflix, Samsung, and Hasbro as well as representatives from top-grossing mobile games like Candy Crush, Honor of Kings, and Monopoly Go!
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TSAT | Hot Stocks07:23 EDT Telesat Holdings, ThinKom expand agreement for low earth orbit operations - Telesat and ThinKom Solutions announced an expanded development partnership to certify ThinKom's ThinAir Ka2517 antenna for the Telesat Lightspeed Low Earth Orbit satellite network. The multi-year agreement calls for the organizations to cooperate on the integration and certification of the Ka2517 antenna with an airborne modem to enable communications across the Telesat Lightspeed Ka-band LEO network. Telesat estimates that its enterprise-class constellation, paired with the Ka2517 antenna, will deliver over 1 Gbps to the aircraft. Telesat Lightspeed can dynamically allocate multiple-Gbps of capacity to areas with high demand, such as congested airport hubs or busy flight routes. This level of connectivity enables robust gate-to-gate, real-time communications for a superior inflight connectivity experience. ThinKom and Telesat have been formally cooperating on terminal development since the 2021 signing of a Memorandum of Understanding- which included validating the Ka2517's ability to seamlessly switch between satellites across multiple orbital planes. With the Telesat Lightspeed satellite manufacturing program now underway, satellite launches are scheduled to begin in 2026, with Ka2517 certification expected to be finalized before global service availability scheduled to commence in 2027.
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IMRX | Hot Stocks07:20 EDT Immuneering announces near-term milestone expectations - IMM-1-104: Initial data from multiple arms of the Phase 2a portion of Immuneering's Phase 1/2a study of IMM-1-104 expected in 2024. IMM-6-415: First patient in Phase 1/2a trial of IMM-6-415 expected to be dosed in March 2024.
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IMRX | Hot Stocks07:20 EDT Immuneering announces results from Phase 1 portion of IMM-1-104 Phase 1/2a trial - Immuneering announced positive topline results from the ongoing Phase 1 portion of its Phase 1/2a clinical trial of IMM-1-104 in advanced RAS-mutant solid tumors. Topline Results from IMM-1-104 Study Phase 1 Portion: Safety and Tolerability Results: As of February 20, 2024, IMM-1-104 has been well-tolerated, with the potential for a differentiated safety profile. Among treatment-related adverse events occurring in greater than 10% of patients, no grade 4 TRAEs were observed, only one grade 3 TRAE was observed, and a modest number of grade 2 TRAEs were observed in each category. No TRAEs were deemed serious. Deep Cyclic Inhibition Proof of Concept for IMM-1-104: As of February 20, 2024 patient plasma data showed IMM-1-104 at 320mg inhibiting phosphorylated extracellular signal-regulated kinase at a level of 90% or greater for 2.7 hours, before returning to near-zero levels in advance of 24 hours. IMM-1-104 at a 240mg dose achieved 90% or greater levels of pERK inhibition for 1.9 hours, before returning to near-zero levels in advance of 24 hours. Immuneering evaluated both 240mg and 320mg QD as prospective doses for the Phase 2a portion of its Phase 1/2a study. Based on data from this trial, Immuneering selected a candidate RP2D of 320mg QD. Universal-RAS Proof of Concept for IMM-1-104: As of February 20, 2024, 100% of evaluable patients profiled by ctDNA and treated with IMM-1-104 experienced no new acquired alterations in RAS. Excluding two patients treated with IMM-1-104 at 160mg (which Immuneering believes to be a sub-therapeutic dose), no new acquired alterations in MAPK pathway genes were observed, suggesting that there was no mutation in the MAPK pathway that a tumor could use to evade IMM-1-104. Initial Signs of Clinical Activity: While clinical activity was not an endpoint of the Phase 1 portion of the trial, Immuneering believes data generated as of the cutoff date of February 20, 2024 show promising signs for IMM-1-104's potential clinical activity: 53% of patients had greater than or equal to 1 target lesion regress when treated with IMM-1-104 at either 320mg or 240mg. Best individual lesion regressions were -35.7% at 320mg in second-line setting. Best RECIST SLD was -18.9% at 320mg in second-line setting. Longest duration on therapy was 162 days at 240mg, with no TRAEs. Immuneering plans to present further data from the ongoing Phase 1 portion of its Phase 1/2a study of IMM-1-104 in advanced RAS-mutant solid tumors at a future medical meeting. Immuneering's Phase 1 portion of its Phase 1/2a clinical trial is an open-label study designed to evaluate the safety, tolerability, PK and preliminary efficacy of IMM-1-104 in patients with advanced RAS mutant solid tumors. The Phase 1 portion is being conducted at five clinical sites in the United States. Data from the Phase 1 portion led to Immuneering's candidate RP2D of 320mg for IMM-1-104. The Phase 2a portion is expected to include up to twenty clinical sites and has already dosed its first patient.
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RMBL | Hot Stocks07:17 EDT RumbleON unveils new three-year operating plan, Vision 2026 - RumbleOn unveiled its new three-year operating plan, Vision 2026, aimed to deliver annual revenue exceeding $1.7 B annual adjusted EBITDA of greater than $150 M and annual adjusted free cash flow of $90M or more by calendar year 2026. The three strategic pillars of Vision 2026 are: Operate the best performing dealerships in America. Leverage the RideNow Cash Offer Tool to accelerate growth of the pre-owned vehicle business. Allocate capital to maximize long-term per share value. "The first pillar is simple in its measurement, but broad in its execution," said Mike Kennedy, RumbleOn's Chief Executive Officer. "Our plan to operate the best performing dealerships in America will be measured on Net Profit and Customer Satisfaction. There's a lot that goes into delivering on these metrics, from simplifying and focusing our organization, attracting, retaining and properly incentivizing team members, and strengthening relationships with our OEM's. I'm excited about the progress we've already made. I've met with our largest OEM partners and they share my enthusiasm about the direction in which we're moving." ..."This three-year operating plan reflects input from our board, our team and my observations over the past few months," explained Kennedy. "... announcement to roll out the Vision 2026 plan in detail to analysts and employees today.
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HWAIF | Hot Stocks07:17 EDT Healwell AI enters commercial agreements with WELL Health, Circle Medical - HEALWELL AI announced the signing of services agreements with each of WELL Health USA and its affiliate Circle Medical Technologies, a subsidiary of WELL Health Technologies, bringing artificial intelligence powered preventative care solutions to U.S. patients. Under the terms of the services agreements, HEALWELL will provide U.S. patients with access to its subsidiaries Pentavere Research Group and Khure Health Corporation for the purposes of earlier diagnosis and identification of patients with potential risk of certain conditions, identification of patient eligibility for approved medications or interventions, optimizing patient care pathways and improving patient health outcomes. WELL USA's CRH Medical which has over 100 Gastrointestinal only sites of service, has identified data from approximately 200,000 patients across 21 states that can be analyzed, in a secure and compliant manner using Pentavere's DARWEN AI platform. The platform can enable high-quality, real-world data generation on the relationships between biologic prescribing, clinic-demographics, and outcomes to support patients suffering from Inflammatory bowel disease and other gastrointestinal conditions. This information is expected to be used to enhance the understanding of how different factors, such as the type of medication prescribed and patient characteristics, relate to treatment outcomes. The partnership will ultimately help support sub-optimally treated IBD disease patients in the US, reducing healthcare costs and the burden on healthcare systems. HEALWELL's Khure has also partnered with U.S. based Circle Medical to integrate its proprietary AI platform with Circle's electronic medical record system, expanding its footprint into the US. Circle Medical currently provides virtual care services in over 30 states and has 23 physical locations across the US, representing access to over 75% of the American population. Khure will be able to analyze Circle's large U.S. clinical data-sets, using its proprietary machine learning algorithms to screen for and flag individual patients whom the health care practitioner might want to consider for further investigation for certain conditions and identifying those patients for early diagnosis of rare disease. Khure will also have the ability to screen for U.S. patient cohorts that may be candidates for clinical trial eligibility.
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PYR | Hot Stocks07:14 EDT PyroGenesis announces $450K contract for sale of plasma torch/furnace system - PyroGenesis Canada announced the signing of a contract with a U.S. structural materials entity engaged in the development of advanced cement materials. The first phase of the contract is approximately CDN$450,000 with the potential for future phases. Funded in part by the U.S. Department of Energy the name of the client will remain anonymous for confidentiality reasons. Under the terms of the contract, PyroGenesis will design and build a system tailored for lab-scale cement production applications. The system will include a plasma torch, a refractory furnace, and the required gas, power, and cooling components and peripherals. The system was contracted to provide the client the type of increased power and heat levels required for advanced cement development and testing, but without the fossil fuels and resultant emissions a gas-fueled system would normally generate. Subsequent phases may require a refractory lined reactor and other systems for additional development.
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RMBL | Hot Stocks07:14 EDT RumbleON backs prior FY24 adjusted EBITDA view $80M -$90M - "Today we are introducing our 3-year operating plan called Vision 2026, which is the result of the work by our team over the last few months. We expect the following to be achieved by the calendar year 2026 while maintaining a healthy balance sheet within our target ratio of 1.5x to 2.5x net debt/Adjusted EBITDA: Annual revenue in excess of $1.7B, Annual Adjusted EBITDA of greater than $150 M, and Annual Adjusted Free Cash Flow of $90M or more. While we believe that the prior Adjusted EBITDA guidance of $80M to $90M for 2024 is within our sight, we have decided to stop the practice of giving annual guidance. Instead, we'll point investors to our Vision 2026 plan and how we expect to be able to shape the business to drive per-share value over the coming years. As a result, we are withdrawing prior guidance for 2024," noted the company in the release.
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CYN | Hot Stocks07:13 EDT Cyngn adds RobotLAB to distributor network - Cyngn announced its strategic partnership with RobotLAB, a robotics integrator that has deployed over 10,000 robots with customers across the globe. As a part of this partnership, RobotLAB will purchase ten fully-autonomous DriveMod Tuggers from Cyngn to establish an initial fleet for sale to end customers. The partnership paves the way for joint sales efforts that present exciting revenue growth opportunities for both companies. This collaboration expands the Cyngn Dealer Network, aimed at accelerating the widespread adoption of Cyngn's AI-powered autonomous vehicle solutions. RobotLAB recently announced its plans to further expand its scale by rolling out locations all across the country.
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TLRY | Hot Stocks07:13 EDT Tilray receives approval for medical cannabis extract in Portugal - Tilray Brands announced an achievement in the medical cannabis industry in Portugal. Following the approval of our Tilray whole flower THC 18, Tilray Medical has now received approval for the first medical cannabis extract, Tilray Oral Solution THC 5 CBD 20, in Portugal. The newly approved medical cannabis extract is set to launch in late spring, offering new therapeutic options for patients across Portugal with specified medical conditions. The approved extract is indicated for use in several critical areas of patient care.
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ACIU | Hot Stocks07:11 EDT AC Immune sees cash runway into at least 1Q26 - The Company had a total cash balance of CHF 103.1 million as of December 31, 2023, compared to a total cash balance of CHF 122.6 million as of December 31, 2022. On February 1, 2024, the Company received the milestone payment of CHF 14.8 million from Janssen for the commencement of ReTain, the ACI-35.030 Phase 2b clinical study. The Company's cash balance provides sufficient capital resources to progress into at least Q1 2026, assuming potential milestone payment of CHF 24.6 million related to achieving an undisclosed enrolment target for our ACI-35.030 and no other milestones.
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CGEM | Hot Stocks07:08 EDT Cullinan Oncology expects cash to provide runway into 2H26 - Cash, cash equivalents, investments, and interest receivable were $468.3 million as of December 31, 2023. Cullinan expects its cash resources to provide runway into the second half of 2026 based on its current operating plan.
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PPTA | Hot Stocks07:08 EDT Perpetua Resources appoints Jon Cherry as CEO - Perpetua Resources' President and CEO, Laurel Sayer, has notified the Board of Directors of her intent to step down as President and CEO and a member of the Board of Directors effective March 14, 2024 and to retire effective April 1, 2025 after seven years of leading the company through the permitting process. The Board of Directors has appointed Jon Cherry to succeed Laurel Sayer as President and CEO of Perpetua Resources and as a member of the Board of Directors effective March 14, 2024. The Board of Directors has also appointed Jessica Largent, the CFO of Perpetua Resources, as a member of the Board of Directors. Sayer will serve as Senior Advisor to the CEO through March 2025. Jon Cherry joins Perpetua Resources with over 33 years of mining industry experience. He most recently served as Chairman, President, and CEO of PolyMet Mining. Before Polymet, Cherry served as a senior leader for Resolution Copper JV Project owned by Rio Tinto and BHP, General Manager of Rio Tinto's Eagle Mine and Senior Project Engineer at Rio Tinto Kennecott Utah Copper. In connection with the leadership transition, the Board of Directors appointed Cherry to fill the vacancy left by Sayer's retirement, effective March 14, 2024. The Board of Directors also appointed Perpetua Resources' CFO Jessica Largent as a Director, effective March 14, 2024. Largent was appointed CFO in April 2022 after joining the Perpetua team in February 2021 as Vice President, Finance and Investor Relations.
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DKS | Hot Stocks07:07 EDT Dick's Sporting Chairman says 'we are very pleased with our results' - Ed Stack, Executive Chairman said, "We are very pleased with our results and accomplishments in 2023 and are excited to continue to redefine the future of retail. We are proud of our progress in repositioning our portfolio through House of Sport, our next generation 50,000 square foot DICK'S store and Golf Galaxy Performance Center. Our growth opportunities are significant, and we continue to prioritize investments in our future to fuel long-term omnichannel growth. I'd like to thank all our teammates for their hard work and unwavering dedication to our business." Lauren Hobart, President and CEO said, "With our industry-leading assortment and strong execution, we capped off the year with an incredibly strong fourth quarter and holiday season. Even excluding the extra week, this was the largest sales quarter in the history of the Company, and during the fourth quarter, we drove significant gross margin and EBT margin expansion. Our full year comps increased 2.4%, driven by growth in transactions, and we continued to gain market share. We are guiding to another strong year in 2024. We plan to grow both our sales and earnings through positive comps, higher merchandise margin and productivity gains. With the continued success of our new store formats and our omnichannel experience, we will accelerate our investment in our growth strategies to drive our business forward and continue gaining market share in a fragmented $140-billion-dollar industry."
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AUTL | Hot Stocks07:07 EDT Autolus Therapeutics says 'well capitalized' for pipeline development plans - Cash and cash equivalents at December 31, 2023 totaled $239.6 million, as compared to $382.4 million at December 31, 2023. Autolus estimates that, with its current cash and cash equivalents and proceeds received from the strategic alliance with BioNTech and the private placement and underwritten equity financing, it is well capitalized to drive the full launch and commercialization of obe-cel in r/r adult ALL as well as to advance its pipeline development plans, which includes providing runway to data in the first pivotal study of obe-cel in autoimmune disease.
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DKS | Hot Stocks07:04 EDT Dick's Sporting sees FY24 CapEx ~$900M on gross basis; ~$800M on net basis
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GLUE | Hot Stocks07:03 EDT Monte Rosa Therapeutics announces anticipated upcoming milestones - Announce the recommended Phase 2 dose for the MRT-2359 Phase 1/2 study in Q2 2024 and report updated Phase 1 clinical results thereafter. Initiate the Phase 2 portion of the study before year-end. The Company is exploring Phase 2 expansion cohorts in high-prevalence c-MYC-driven tumors such as hormone receptor-positive breast cancer and prostate cancer, as well as tumor types and patient populations driven by L- and N-MYC including NSCLC, SCLC, and solid tumors with amplifications of L- and N-MYC. Submit an IND application for MRT-6160 in Q2 2024 and initiate a Phase 1 SAD/MAD study in healthy volunteers in mid-2024. Monte Rosa expects to subsequently initiate proof-of-concept studies in autoimmune diseases spanning gastroenterology, dermatology, rheumatology, and neurology indications. Submit an IND application for MRT-8102 in Q1 2025. Nominate a development candidate for the CDK2 preclinical program in 2024.
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DKS | Hot Stocks07:03 EDT Dick's Sporting raises annualized dividend 10% to $4.40 per share - On March 13, the company's Board of Directors authorized and declared a quarterly dividend in the amount of $1.10 per share on the company's Common Stock and Class B Common Stock. The dividend is payable in cash on April 12 to stockholders of record at the close of business on March 29. This dividend represents an increase of 10% over the company's previous quarterly per share amount and is equivalent to an annualized dividend of $4.40 per share.
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GLUE | Hot Stocks07:03 EDT Monte Rosa Therapeutics expects cash to fund operations into 1H26 - Cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2023, were $237.0 million, compared to cash, cash equivalents, restricted cash, and marketable securities of $183.0 million as of September 30, 2023. The increase of $54 million was primarily related to the proceeds from the Roche collaboration and registered direct offering in Q4 2023. The Company expects its cash and cash equivalents, including proceeds from the Roche collaboration, to be sufficient to fund planned operations and capital expenditures into the first half of 2026.
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DG | Hot Stocks06:58 EDT Dollar General expects to execute 2,385 real estate projects in 2024 - The company is also reiterating its plans to execute approximately 2,385 real estate projects in fiscal year 2024, including approximately 800 new store openings, 1,500 remodels, and 85 store relocations. The company's guidance assumes no share repurchases in fiscal year 2024. Capital expenditures, including those related to investments in the company's strategic initiatives, in the range of $1.3B-$1.4B.
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QSR | Hot Stocks06:35 EDT Restaurant Brands CFO Matt Dunnigan to depart, Sami Siddiqui to succeed - Josh Kobza, CEO of Restaurant Brands announced leadership team changes. Sami Siddiqui has been appointed CFO, succeeding Matt Dunnigan who is leaving the company. Jeff Klein has been appointed as President of Popeyes US and Canada, succeeding Siddiqui who has led the brand for nearly four years. Thiago Santelmo has been appointed president of International. Santelmo succeeds David Shear, who will remain with the company for a year as an advisor and assist in the transition. Today's leadership changes are effective immediately and a new president of EMEA and chief marketing officer for Popeyes will be named at a later date.
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VSAT | Hot Stocks06:22 EDT Royal Jordanian Airlines selects ViaSat IFC solution across multiple fleets - Royal Jordanian Airlines, or RJ, and Viasat announced that the airline will officially make high-speed Wi-Fi a priority to enhance its future passenger experience by selecting Viasat's in-flight connectivity, or IFC, solution across multiple fleets. In line with the airline's strategic plan to increase and modernize its fleet, Royal Jordanian Airlines will equip more than 40 total aircraft with Viasat connectivity systems, including plans to factory-install the system on its new Embraer E2, Airbus A320, Airbus 321 and Boeing 787-9 fleets. The airline also plans to retrofit its Boeing 787-8 widebody aircraft with the advanced Wi-Fi solution. Viasat's advanced, in-flight Wi-Fi will be available on various flight routes in the Middle East region and beyond, with the Embraer E2 fleet handling short-haul flights, the Airbus A320 family aircraft serving medium-haul routes, and the Boeing 787s continuing to fly Royal Jordanian Airlines' long-haul routes.
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AZN | Hot Stocks06:18 EDT AstraZeneca to acquire Amolyt Pharma for up to $1.05B - AstraZeneca announced that it has entered into a definitive agreement to acquire Amolyt Pharma, a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases. "The proposed acquisition will bolster the Alexion, AstraZeneca Rare Disease late-stage pipeline and expand on its bone metabolism franchise with the notable addition of eneboparatide, or AZP-3601, a Phase III investigational therapeutic peptide with a novel mechanism of action designed to meet key therapeutic goals for hypoparathyroidism. Additionally, Alexion is looking forward to welcoming talent from Amolyt Pharma," the company stated. Under the terms of the agreement, AstraZeneca will acquire all of Amolyt Pharma's outstanding shares for a total consideration of up to $1.05B, on a cash and debt free basis. This includes $800M upfront at deal closing, plus the right for Amolyt Pharma's shareholders to receive an additional contingent payment of $250M payable upon achievement of a specified regulatory milestone. Subject to the satisfaction of customary closing conditions in the acquisition agreement, including regulatory clearances, the transaction is expected to close by the end of the third quarter of 2024.
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CSIQ | Hot Stocks06:17 EDT Canadian Solar backs FY24 total module shipments view 42 GW-47 GW - Shawn Qu, chairman and CEO, commented, "Entering 2024, we anticipate a seasonally softer first quarter. As we remain committed to profitable growth, our strategic management of volume is expected to bolster gross margins, while e-STORAGE concurrently drives more meaningful profit contribution. Our optimism toward global market prospects endures, as we project accelerated growth momentum in the latter part of the year. This positive outlook is driven by the clearance of channel inventory in distributed generation markets and burgeoning demand unleashed by emerging markets. Our commitment to long-term growth remains steadfast, as we continue to strengthen our foothold in strategic markets and generate value for our shareholders."
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FWBI | Hot Stocks06:15 EDT First Wave BioPharma completes business combination with ImmunogenX - First Wave BioPharma has acquired ImmunogenX in an all-stock transaction with the combined company focused on advancing a GI pipeline comprised of multiple, late-stage clinical assets, including latiglutenase, a potentially first-in-class, near Phase 3-ready, targeted, oral biotherapeutic for celiac disease. James Sapirstein will continue to serve as Chairman and CEO of First Wave BioPharma with Jack Syage, previously the CEO and Co-Founder of ImmunogenX, assuming the role of President and COO of First Wave BioPharma. Syage and Chaitan Khosla will also join the board of directors of First Wave BioPharma. First Wave BioPharma intends to license the commercial rights to latiglutenase in the U.S. and Canada to a global pharmaceutical company which will commercialize latiglutenase following receipt of marketing approval. First Wave BioPharma will also seek to secure financing commitments to fund the ongoing development of latiglutenase. Latiglutenase, an oral biotherapeutic, has demonstrated effectiveness in reducing intestinal damage and alleviating symptoms of celiac disease in two Phase 2 trials involving approximately 200 patients. The Phase 3 clinical plan for latiglutenase has been reviewed by the FDA and the trials are anticipated to begin in early 2025. Upon closing of the acquisition, the company issued 365,162 shares of its common stock to the shareholders of ImmunogenX equal to 19.02% of its currently issued and outstanding common stock and 11,777.418 shares of its newly issued Series G Convertible Preferred Stock representing on a fully diluted basis 81.9% for ImmunogenX and 18.1% for First Wave Biopharma with a combined fully diluted equity value of $104M.
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SCVL | Hot Stocks06:11 EDT Shoe Carnival raises quarterly dividend 12.5% to 13.5c per share - Shoe Carnival announced that its Board of Directors has approved the payment of a quarterly cash dividend of 13.5c per share, representing a quarterly increase of 12.5% and an increased annualized dividend rate to 54c per share. The quarterly cash dividend will be paid on April 22 to shareholders of record as of the close of business on April 8.
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PSQH | Hot Stocks06:10 EDT PSQ Holdings acquires Credova Holdings - PSQ Holdings and Credova Holdings, a point-of-sale financing platform providing Buy Now Pay Later solutions catered to the shooting sports and firearms industries, entered into and consummated transactions that are the subject of an agreement and plan of merger dated as of March 13, including the merger of Credova with and into a wholly-owned subsidiary of the company established to facilitate the transaction. PublicSquare exchanged approximately 2.9 million shares of newly-issued Company Class A common stock for all of the outstanding shares of Credova. Additionally, all of Credova's outstanding subordinated debt was canceled and either repaid or exchanged for newly-issued 10-year PublicSquare promissory notes, convertible into Company Class A common stock. Following the Merger, Credova is a wholly-owned subsidiary of the company. Credova management, including its CEO Dusty Wunderlich, have joined PublicSquare and will continue to run Credova's business as part of PublicSquare. Wunderlich is also expected to join PublicSquare's board of directors. Credova has financed over a quarter billion dollars in transactions since its inception in 2018, and its merchant and customer universe is additive to PublicSquare, with over 4,800 merchants onboarded to date and 2.8 million unique applicants to date. The acquisition is expected to be immediately accretive to the company, before any anticipated synergies, as Credova financials reflect estimated net revenues of $15.5M, adjusted EBITDA of $2.3M and Free Cash Flow of $1.6M during FY2023. Credova has exclusive partnerships with over 60% of the top online shooting sports retailers. The transaction was approved by the boards of directors of PublicSquare and Credova and by requisite stockholders of Credova. Jim Giudice, former Chief Legal Officer of Credova, will replace Stephen Moran as PublicSquare's General Counsel. The remainder of the company's management team is expected to remain unchanged and PublicSquare will continue to be headquartered in West Palm Beach, Florida.
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HPE ALPMY | Hot Stocks06:08 EDT HP Asset Upcycling Services selected by Astellas Pharma for sustainability goals - Hewlett Packard Enterprise (HPE) announced that HPE Asset Upcycling Services have been selected by Astellas Pharma (ALPMY). Starting in Canada, these services provide the collection and processing of end-of-use network equipment as part of the company's network standardization project and will contribute to Astellas' efforts to achieve its sustainability goals. A first collection of networking assets is taking place in Canada, with other Astellas sites to follow, starting with the Japanese headquarters where hundreds of technology assets, including networking, servers, PCs, and smartphones will be decommissioned for secure refurbishment. Each year, Astellas teams will be receiving their own HPE Circular Economy report, which details the reuse versus recycle rate by product family and the associated environmental impact savings.
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FUTU | Hot Stocks06:06 EDT Futu Holdings announces new $500M share repurchase program - The company announced its $500M share repurchase program in March 2022, and by 2023 year-end, the expiration date, the company had repurchased an aggregate of 11 million ADSs with approximately US$365 million in open market transactions. In addition, the company's board of directors has authorized a new share repurchase program under which the company may repurchase up to $500M worth of its ADSs, until December 31, 2025. The company plans to fund the repurchases from its existing cash balance.
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AXNX | Hot Stocks06:06 EDT Axonics receives CE Mark approval for Axonics R20 SNM system - Axonics announced that the Axonics R20 rechargeable sacral neuromodulation system has received CE Mark approval. The R20 neurostimulator is labeled for a functional life in the body of at least 20 years and reduces how frequently a patient needs to recharge their implanted device to once every 6 to 10 months for only one hour. The implant utilizes the same small 5cc form factor as the previous generation and is paired with the same tined lead and intuitive, easy to use patient remote control. The R20 also provides physicians and their patients with enhanced programming capabilities and expanded MRI labeling.
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TEL | Hot Stocks05:58 EDT TE Connectivity to change place of incorporation to Ireland - The board of directors of TE Connectivity has unanimously approved a proposed change of the company's place of incorporation from Switzerland to Ireland. Shareholders will be asked to vote in favor of the proposal at a special general meeting of shareholders in Zurich, Switzerland. If approved, TE expects to implement the change in 2024. TE Connectivity does not anticipate any material change in its operations or financial results as a result of the change of domicile. The company will continue to be registered with the U.S. Securities and Exchange Commission, or SEC, and will be subject to the same SEC reporting requirements. The company's common shares will continue to trade on the NYSE under the symbol TEL. Switzerland will continue to serve as a TE leadership hub for strategic and operational functions.
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JBLU | Hot Stocks05:55 EDT JetBlue expands transatlantic offerings - JetBlue announced it has expanded its transatlantic offerings with new, nonstop flights taking off from New York and Boston. Daily summer-seasonal service from New York's John F. Kennedy International Airport and Boston Logan International Airport to Dublin Airport will operate through September 30.
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NXT | Hot Stocks05:52 EDT Nextracker, Orrcon Steel to deliver sovereign capability in Australia - Nextracker and Orrcon Steel, an Australian manufacturer of tube and pipe, and distributor of steel products and wholly owned business of BlueScope Steel, announced an agreement to manufacture and deliver Australian made critical components for Nextracker's smart solar tracker used on distributed generation and utility-scale solar farms. The first project scheduled to receive delivery of Australian made steel components from the facility is Acciona Energia's 480MWp Aldoga Solar Farm to be built near Gladstone. Critical steel components will be produced from BlueScope's steel coil at Orrcon Steel's Salisbury Tube mill in Brisbane and finished at its Northgate site by Baojia, Nextracker's global manufacturing partner for delivery to engineering procurement contractors. The new manufacturing facility was officially opened by Queensland Minister for Energy and Clean Economy Jobs.
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SHEL | Hot Stocks05:44 EDT Shell to invest $10B-$15B in low-carbon energy solutions in energy transition - Shell has published its first energy transition update since the launch of its Powering Progress strategy in 2021. In this energy transition update, Shell is focusing on how the same strategy delivers "less emissions". The company's target is to achieve net-zero emissions by 2050 across all operations and energy products. The company believes this target supports the more ambitious goal of the Paris Agreement to limit global warming to 1.5 degrees C above pre-industrial levels. To help drive the decarbonization of the transport sector, Shell has set a new ambition to reduce customer emissions from the use of oil products by 15%-20% by 2030 compared with 2021. The company plans to build its power business, including renewable power, in places including Australia, Europe, India and the USA, and have withdrawn from the supply of energy directly to homes in Europe. In line with this shift to prioritizing value over volume in power, Shell will focus on select markets and segments. This includes selling more power to commercial customers, and less to retail customers. Given this focus on value, Shell expects lower total growth of power sales to 2030, which has led to an update to our net carbon intensity target. Shell is now targeting a 15%-20% reduction by 2030 in the net carbon intensity of the energy products the company sells, compared with 2016, against its previous target of 20%. Shell is investing $10B-$15B between 2023 and the end of 2025 in low-carbon energy solutions, making the company a significant investor in the energy transition. And in 2023, the company invested $5.6B on low-carbon solutions, more than 23% of our total capital spending. These investments include electric vehicle charging, biofuels, renewable power, hydrogen and carbon capture and storage. Our investments in new technologies are helping to reduce emissions for Shell and our customers. Shell aims to help scale new technologies to make them an affordable choice for customers and are focusing its advocacy on key areas which Shell believes are critical to the energy transition.
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FOSL | Hot Stocks05:38 EDT Fossil announces strategic review of current business model, capital structure - Fossil on Wednesday announced a strategic review of its current business model and capital structure. This includes efforts to optimize its business model through additional changes to its operations, as well as further structural cost reductions, which are under consideration. The company anticipates this effort will expand on its current TAG Plan and could include additional debt and equity financing options, including monetization of various assets to strengthen its balance sheet. The company has retained Evercore to act as its financial advisor. The company remains on track with its TAG Plan, which was announced in March 2023 and is designed to reduce operating expenses, improve operating margins and advance the company's commitment to profitable growth. The TAG Plan generated annualized operating income benefits of approximately $125M in 2023 and is expected to generate additional annualized operating income benefits of at least $100M in 2024. Restructuring costs associated with the TAG Plan are estimated to be $35M in fiscal year 2024 compared to $49M in fiscal year 2023.
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FOSL KSS | Hot Stocks05:37 EDT Fossil CEO Kosta Kartsotis steps down, Jeffrey Boyer named interim CEO - Fossil Group (FOSL) on Wednesday announced that Kosta N. Kartsotis is stepping down from his position as CEO and a member of the Board of Directors, effective immediately. To ensure a seamless transition, Kartsotis will remain with the company in a transitional role until September 2024 and, thereafter, will provide consulting services to the company until September 2025. Jeffrey N. Boyer, the company's Executive Vice President and COO since April 2021, has been appointed as Interim CEO and as a member of the Board of Directors, effective immediately. The Board has retained an executive search firm to identify a permanent CEO and will consider both internal and external candidates. Kevin Mansell, Lead Independent Director of the Board, has been appointed as Chairman of the Board, effective immediately. Mansell was elected to the Board in May 2019, and is currently the Lead Independent Director and Chairman of the Company's Compensation and Talent Management Committee. Mansell has over 40 years of retail industry experience, most recently serving as Chairman, CEO and President of Kohl's Corporation (KSS). Mansell stated, "On behalf of the entire Board, I thank Kosta for his unwavering commitment and leadership to Fossil. We have great confidence in Jeff to guide the Company through this period of transition as we undergo a strategic review, continue to advance our Transform and Grow Plan and pursue our search for the Company's next CEO in our effort to create long-term value for our stockholders."
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ANTE | Hot Stocks05:33 EDT AirNet Technology regains compliance with Nasdaq - AirNet Technology announced that it received a notification letter from the Listing Qualifications Department of Nasdaq on March 13, indicating that the company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules.
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MSFT ORCL | Hot Stocks05:32 EDT Microsoft, Oracle expand collaboration to meet demand for Oracle Database@Azure - Microsoft (MSFT) and Oracle (ORCL) are expanding our collaboration to meet growing customer demand for Oracle Database@Azure around the world. Oracle Database@Azure will expand to five more regions, which brings the total planned multicloud availability footprint to 15 regions globally. Customers can now place orders for Oracle Database@Azure in the Microsoft Azure Germany West Central region in Frankfurt. This marks the debut of Oracle Database@Azure in Europe, and the second region after Microsoft Azure East U.S. general availability in December 2023. To meet the growing customer demand this year, the service will further run in the Australia East, Brazil South, Canada Central, France Central, Central India, Italy North, Japan East, Southeast Asia, Sweden Central, United Kingdom South, Central United States, South Central United States, and United Arab Emirates North cloud regions.
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JG | Hot Stocks05:21 EDT Aurora Mobile enters strategic partnership with PERAC Eduverse - Aurora Mobile announced that it has entered into a strategic partnership with PERAC Eduverse, a subsidiary platform of Avantis Education, a teaching and learning company in the UK. Aurora Mobile will use its AI bot creation platform, GPTBots, to help PERAC Eduverse develop the ChatGPT AI series of courses for primary and secondary school students in Hong Kong, further promoting the development of AI STEAM by cultivating students' interest in AI. To achieve this goal, PERAC Eduverse has developed a series of interactive teaching and learning scenarios using GPTBots, including "Guangdong-Hong Kong-Macao Greater Bay Area Cultural City Planner", "Entrepreneurial Creative Thinking", "I Want to Be a Director" and "Greater Bay Area Career Exploration Planning". In these scenarios, students can use AI chatbots to generate content, sounds, and images to express their creative ideas. This collaboration between Aurora Mobile and PERAC Eduverse will also equip students with the tools and knowledge necessary to deeply understand the AI-driven world, helping them to succeed in future challenges and opportunities. This collaboration represents an effort to leverage AI technology for educational innovation, and both parties will continue to explore additional opportunities in the future.
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WB | Hot Stocks05:16 EDT Weibo declares 82c per share special cash dividend - The company's board of directors has approved a special cash dividend of 82c per ordinary share and ADS to holders of its ordinary shares and ADSs as of the close of business on April 12, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. For holders of Class A ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the company's Hong Kong branch share registrar. The aggregate amount of the dividend will be approximately $200 million. The payment date for holders of ordinary shares is expected to be on or around May 6. The payment date for holders of ADSs is expected to be on or around May 13.
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LAC GM | Hot Stocks05:08 EDT Lithium Americas receives $2.26B Thacker Pass project commitment from DOE - Lithium Americas (LAC) provided a construction plan update for its Thacker Pass lithium project located in Humboldt County, Nevada. Lithium Americas has received a conditional commitment from the U.S. Department of Energy, or DOE, for a $2.26B loan under the Advanced Technology Vehicles Manufacturing, or ATVM, Loan Program for financing the construction of the processing facilities at Thacker Pass, targeting to produce an initial 40,000 tons per year of battery grade lithium carbonate. The expected loan plus General Motors (GM) strategic investment are expected to provide the vast majority of the capital necessary to fund Phase 1. Site preparation for major earthworks has been completed, including all site clearing, commissioning a water supply system, site access improvements and site infrastructure. The company is currently focused on advancing detailed engineering, procurement and execution planning for the construction of Thacker Pass Phase 1. Detailed engineering is approximately 30% design complete to date, and the company plans to continue to increase the level of detailed engineering in advance of issuing full notice to proceed, or FNTP, which is expected in the second half of 2024. The company leased a parcel of land in the nearby City of Winnemucca for a transloading terminal to be used during operations, providing direct access to the mainline railroad and an interstate highway. The company and its engineering, procurement and construction management contractor, Bechtel, entered into a National Construction Agreement with North America's Building Trades Union for construction of Thacker Pass. Estimated total capital cost for Phase 1 construction has been revised to $2.93B to reflect updated quantities and execution planning tied to increased engineering progress, use of union labor through a PLA for construction of Thacker Pass, development of an all-inclusive housing facility for construction workers, updated equipment pricing and a larger project contingency. During the year ended December 31, 2023, approximately $194M was spent on Thacker Pass. The company expects capital expenditures to be significantly lower in the first half of 2024 as the focus turns from early works to advancing detailed engineering and project planning ahead of FNTP. Mechanical completion of Thacker Pass Phase 1 is targeted for 2027 following a three-year construction period. Major construction is expected to commence in the second half of 2024 following the anticipated closing of the DOE Loan and issuance of FNTP. In light of current market conditions and to preserve liquidity, the company has reduced project capital expenditures to minimal levels until closing of the DOE Loan and issuance of FNTP, which are expected in the second half of the year. In addition, the company has taken actions to reduce its general and administrative and operating expense budget for 2024 by more than 25%.
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LAC GM | Hot Stocks05:08 EDT Lithium Americas receives $2.26B Thacker Pass project commitment from DOE - Lithium Americas provided a construction plan update for its Thacker Pass lithium project located in Humboldt County, Nevada. Lithium Americas has received a conditional commitment from the U.S. Department of Energy, or DOE, for a $2.26B loan under the Advanced Technology Vehicles Manufacturing, or ATVM, Loan Program for financing the construction of the processing facilities at Thacker Pass, targeting to produce an initial 40,000 tons per year of battery grade lithium carbonate. The expected loan plus General Motors (GM) strategic investment are expected to provide the vast majority of the capital necessary to fund Phase 1. Site preparation for major earthworks has been completed, including all site clearing, commissioning a water supply system, site access improvements and site infrastructure. The company is currently focused on advancing detailed engineering, procurement and execution planning for the construction of Thacker Pass Phase 1. Detailed engineering is approximately 30% design complete to date, and the company plans to continue to increase the level of detailed engineering in advance of issuing full notice to proceed, or FNTP, which is expected in the second half of 2024. The company leased a parcel of land in the nearby City of Winnemucca for a transloading terminal to be used during operations, providing direct access to the mainline railroad and an interstate highway. The company and its engineering, procurement and construction management contractor, Bechtel, entered into a National Construction Agreement with North America's Building Trades Union for construction of Thacker Pass. Estimated total capital cost for Phase 1 construction has been revised to $2.93B to reflect updated quantities and execution planning tied to increased engineering progress, use of union labor through a PLA for construction of Thacker Pass, development of an all-inclusive housing facility for construction workers, updated equipment pricing and a larger project contingency. During the year ended December 31, 2023, approximately $194M was spent on Thacker Pass. The company expects capital expenditures to be significantly lower in the first half of 2024 as the focus turns from early works to advancing detailed engineering and project planning ahead of FNTP. Mechanical completion of Thacker Pass Phase 1 is targeted for 2027 following a three-year construction period. Major construction is expected to commence in the second half of 2024 following the anticipated closing of the DOE Loan and issuance of FNTP. In light of current market conditions and to preserve liquidity, the company has reduced project capital expenditures to minimal levels until closing of the DOE Loan and issuance of FNTP, which are expected in the second half of the year. In addition, the company has taken actions to reduce its general and administrative and operating expense budget for 2024 by more than 25%.
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