Stockwinners Market Radar for September 30, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
VRDN | Hot Stocks20:19 EDT Viridian Therapeutics CEO buys $499.3K in common stock - In a regulatory filing, Viridian Therapeutics disclosed that its CEO Stephen Mahoney bought 21.4K shares of common stock on September 27th in a total transaction size of $499.3M. Viridian Therapeutics shares ended after-hours session up 4% at $23.63.
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EXPE | Hot Stocks20:17 EDT Expedia director sells $1.5M in common stock - In a regulatory filing, Expedia disclosed that its director Dara Khosrowshahi sold 10K shares of common stock on September 27th in a total transaction size of $1.5M.
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BLDE | Hot Stocks20:02 EDT Cathie Wood's ARK Investment buys 74K shares of Blade Air Mobility today
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ELS | Hot Stocks19:59 EDT Equity Lifestyle reports 'minimal' impact from Hurricane Helene - Equity LifeStyle Properties "reported its preliminary assessment of the impact of Hurricane Helene on its Florida, North Carolina and South Carolina properties. No injuries to our residents, guests or employees have been reported. Certain properties were affected by flooding, wind, wind-blown debris, and falling trees and branches. We are in the process of estimating costs associated with cleanup and restoration efforts. We believe that we have adequate insurance, subject to deductibles, including business interruption coverage. At this time, we do not believe that Hurricane Helene will significantly impact our results of operations or our financial condition on a consolidated basis."
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BCLI | Hot Stocks19:50 EDT BrainStorm trading halted, news pending
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RTX | Hot Stocks18:37 EDT RTX's Pratt & Whitney awarded F135 Engine Core Upgrade contract - Pratt & Whitney, an RTX business, has been awarded a contract valued up to $1.3B to continue work on the F135 Engine Core Upgrade, which will deliver enhanced durability to the engine. The ECU also provides power and cooling for Block 4 and beyond capabilities for all three variants of the F-35 global enterprise. "This contract is critical to continuing our positive forward momentum on this program," said Jill Albertelli, president of Pratt & Whitney's Military Engines business. "It allows us to continue work in the risk reduction phase with a fully staffed team focused on design maturation, aircraft integration, and mobilizing the supply base to prepare for production." In July, Pratt & Whitney announced it had completed the F135 ECU's preliminary design review which signified the alignment between Pratt & Whitney and the F-35 Joint Program Office on the upgrade's design. Today, more than 700 engineers and program managers are working full-time on the program.
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KURA | Hot Stocks18:32 EDT Kura Oncology announces Ziftomenib Phase 1 results in The Lancet - Kura Oncology "announced the publication of its KOMET-001 Phase 1 study manuscript in The Lancet Oncology journal. The paper, entitled "Ziftomenib in relapsed/refractory acute myeloid leukaemia: results from an open-label, multi-cohort, phase 1a/1b trial," is now available on The Lancet Oncology website and in the Scientific Manuscripts section on Kura's website. The KOMET-001 study is a Phase 1/2 global, open-label, multi-cohort clinical trial evaluating the safety, tolerability and clinical activity of ziftomenib in relapsed/refractory AML. In the Phase 1a dose escalation portion, patients received ziftomenib once daily in 28-day cycles and in the Phase 1b dose validation/expansion portion, patients were randomized to two parallel cohorts at 200 mg and 600 mg. As of the data cutoff on August 30, 2023, 83 patients received one or more doses of ziftomenib and the primary objective of this study was to determine the recommended phase 2 dose based on safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary activity. The results demonstrated promising clinical activity with manageable toxicity in heavily pretreated patients including marrow blast reduction, neutrophil and platelet recovery, transfusion independence, and clearance of measurable residual disease. In May 2024, Kura Oncology announced completion of enrollment in the Phase 2 portion of KOMET-001, a registration-directed trial of ziftomenib in patients with R/R NPM1-mutant AML. Enrollment of the 85 patients in Phase 2 was completed in fewer than 16 months and the Company expects to report topline data from the trial in early 2025."
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BY | Hot Stocks18:03 EDT Byline Bancorp and First Security Bancorp announce merger agreement - Byline Bancorp (BY) and First Security Bancorp jointly announced that they have entered into a definitive merger agreement pursuant to which First Security Bancorp and its wholly owned subsidiary, First Security Trust and Savings Bank will combine with Byline Bancorp in a cash and stock transaction valued at approximately $41.0M based upon Byline's closing stock price as of September 27. The partnership will present an opportunity to combine two franchises by strengthening Byline's position as the preeminent commercial bank in Chicago. The transaction will solidify Byline's position as Chicago's largest community bank with assets under $10B, $7.3B in loans and $7.8B in deposits, with 45 branches across the greater Chicago metropolitan area. Under the terms of the definitive merger agreement, at the closing of the transaction, Byline will issue 2.1794 shares of its common stock for each outstanding share of First Security Bancorp common stock, or approximately 1.5M shares to First Security Bancorp common stockholders, subject to adjustment per the terms of the agreement. The transaction has been approved unanimously by each company's board and is expected to close during Q2 of 2025, and is subject to regulatory approvals, the approval of First Security Bancorp's stockholders, and the satisfaction of certain other closing conditions.
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MU | Hot Stocks17:41 EDT Micron CPO Arnzen sells 4,890 common shares - In a regulatory filing, Micron chief people officer April Arnzen disclosed the sale of 4,890 common shares of the company on September 26 at a price of $113 per share.
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TRVI | Hot Stocks17:33 EDT Trevi Therapeutics appoints James Cassella Chief Development Officer - Trevi Therapeutics announced the appointment of James Cassella, Ph.D., as Chief Development Officer. Cassella has over 35 years of experience working in publicly traded drug and product development companies with a specific focus on CNS therapies. Prior to joining Trevi, he served as Chief Development Officer for Concert Pharmaceuticals.
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LMT | Hot Stocks17:32 EDT Lockheed Martin awarded $321.62M Missile Defense Agency contract - Lockheed Martin was awarded a modification in the amount of $321.62M to provide additional scope on their existing sole-source, hybrid, cost-plus-incentive-fee and cost contract for Aegis BMD Weapon Systems. This modification increases the ceiling of Contract L ine-Item Numbers 4005, 4007, 4008, and 4009 to support BMD 6.0.1 development scope. Work will be performed in Moorestown, New Jersey, with a performance period from October through June 2025. An initial obligation in the amount of $14.19M using fiscal 2024 research, development, test and evaluation funds will occur at the time of award. The value of the contract will increase from $25.56Mto $347.18M. The Missile Defense Agency is the contracting activity.
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LMT | Hot Stocks17:30 EDT Lockheed Martin awarded $245.41M Navy contract modification - Lockheed Martin was awarded a $245.41M firm-fixed-price, cost-plus-fixed-fee, and cost-only modification to previously awarded contract to exercise options for production, spares, production support material, engineering support, and hardware repair of components for MK 48 Heavyweight Torpedo All Up Round in support of the MK 48 MOD 7 Heavyweight Torpedo program. This contract combines purchases for the Navy, the Royal Australian Navy, and the Foreign Military Sales program. Work is expected to be completed by September 2027. Naval Sea Systems Command is the contracting activity.
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LMT | Hot Stocks17:28 EDT Lockheed Martin awarded $348.46M Navy contract order - Lockheed Martin was awarded a not-to-exceed $348.46M undefinitized, cost-plus-fixed-fee order against a previously issued basic ordering agreement. This contract procures initial air vehicle spares for the production Lot 18 aircraft to include basic spares pool/global spares pool spares shared between the involved customers, customer specific afloat spares pool/deployable spares pool as well as associated support and consumables to meet immediate maintenance needs of the Joint Strike Fighter Program for the Navy, Air Force, Marine Corp, Foreign Military Sales customers, and non-U.S. Department of Defense participants. Work is expected to be completed in October 2029. Naval Air Systems Command is the contracting activity.
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NOC | Hot Stocks17:26 EDT Northrop Grumman awarded $387.27M Navy contract modification - Northrup Grumman was awarded a $387.27M modification to a cost-plus-incentive-fee, cost-plus-fixed-fee order against a previously issued basic ordering agreement. This modification exercises an option to provide continued research and development of the E-2D Advanced Hawkeye Cockpit Technical Refresh cockpit redesign and Theater Combat Identification to replace the current E-2D integrated navigation and controls and display systems and tactical mission computer and display systems for the Navy. Work is expected to be completed in September 2028. Fiscal 2024 research, development, test and evaluation funds in the amount of $15.94M will be obligated at time of award, none of which will expire at the end of the fiscal year. Naval Air Systems Command is the contracting activity.
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LMT | Hot Stocks17:23 EDT Lockheed Martin awarded $1.17B Navy contract - Lockheed Martin was awarded a $1.17B hybrid cost plus incentive fee and cost-plus fixed fee contract, to provide Strategic Weapon System Trident fleet support, Trident II shipboard integration increment eight, and navigation subsystem development efforts. This contract award also benefits a foreign military sale to the United Kingdom. Work is expected to be completed by September 29, 2031. This contract is being awarded subject to the availability of Fiscal 2025 funds and no funds will expire at the end of the current fiscal year. This contract is being awarded as a sole-source pursuant to 10 U.S. Code 3204(a)(1) and (4). Strategic Systems Programs is the contracting activity.
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RTX | Hot Stocks17:21 EDT RTX awarded $1.31B Navy contract - RTX was awarded a not-to-exceed $1.31B cost-plus-incentive-fee, cost-plus-fixed-fee, undefinitized contract to provide for the design, analysis, rig testing, engine test preparation, developmental hardware, test asset assembly, air system integration, airworthiness evaluation, and product support planning in support of the continued maturation of the F135 Engine Core Upgrade Propulsion System for the F-35 Joint Strike Fighter program for the Air Force, Marine Corps, Navy, and Non-Department of Defense cooperative program partners. Work is expected to be completed in March 2028. This contract was not competitively procured pursuant to 10 U.S. Code 3204. Naval Air Systems Command is the contracting activity.
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LMT | Hot Stocks17:20 EDT Lockheed Martin awarded $2.11B Navy contract modification - Lockheed Martin was awarded a $2.11B hybrid fixed-price-incentive-fee, cost-plus-incentive-fee, and cost-plus-fixed-fee modification to a previously awarded and announced un-priced letter contract for Trident II D5 missile production and deployed systems support and Warhead 93/Mark7 development. This contract award also benefits a Foreign Military Sale to the United Kingdom. Work is expected to be completed September 30, 2029. FY24 weapons procurement funds in the amount of $143.46M will be obligated on this award and no funds will expire at the end of the current fiscal year. The maximum dollar value of the contract action, including all Optional Line Items if exercised, is $2.11B. This contract is being awarded to the Contractor on a sole source basis under 10 U.S. Code 2304(a)(1) and was previously synopsized on the Systems for Award Management website, with one proposal received. Strategic Systems Programs is the contracting activity.
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AMZN | Hot Stocks17:17 EDT Amazon: Prime Video reveals trailer for new game show, Buy It Now - "Prime Video revealed the trailer for the new game show Buy It Now hosted by JB Smoove. In Buy It Now, everyday Americans with innovative new products try to secure a life-changing spot in the eponymous store on Amazon. The series features a star-studded rotating panel of celebrity panelists Gwyneth Paltrow, Anthony Anderson, Tabitha Brown, Tony Hawk, Christian Siriano and Amazon Executives Jenny Freshwater, Tanner Elton, Carmen Nestares, Michelle Rothman as well as the founder of Ring, Jamie Siminoff, who serves as the resident judge and entrepreneurial panelist. The series is produced by multi award-winning production company Studio Lambert and Amazon MGM Studios. Buy It Now is executive produced by Susan House, Jack Burgess, Tim Harcourt, Niall O'Driscoll, and Stephen Lambert. The first three episodes of Buy It Now will be available to stream exclusively on Prime Video in the U.S. beginning on Wednesday, October 30, with an additional episode available each Wednesday until the finale on January 8, 2025. Buy It Now will have 13 episodes total...Viewers can discover the winning products and brands from celebrity judges including Gwyneth Paltrow's Goop, Anthony Anderson's AC Barbeque, and Tabitha Brown's Donna's Recipe, in the Buy It Now Storefront on Amazon. The Buy It Now storefront will launch in tandem with the show's premiere and will be accessible to customers through a scannable QR code featured in each episode, by searching 'Buy it Now' on Amazon.com, or clicking on easy-to-discover links from the Buy It Now page in the Prime Video app. The new game show premieres with three episodes on October 30..," said Amazon in part, in an earlier blog post. Reference Link
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BA | Hot Stocks17:17 EDT Boeing awarded $600M Air Force contract - Boeing was awarded a $600M indefinite-delivery/indefinite quantity contract for Joint Direct Attack Munition and Laser Joint Direct Attack Munition testing and integration. This contract provides for technical services and support, aircraft and weapon system integration, and sustainment. Work is expected to be completed by September 29, 2035. This contract involves Foreign Military Sales to Israel, Singapore, Philippines, Indonesia and Turkey. This contract was a sole source acquisition. Fiscal 2024 procurement funds in the amount of $3.6M are being obligated at the time of award. The Air Force Lifecycle is the contracting activity.
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BA | Hot Stocks17:15 EDT Boeing awarded $1.68B Air Force contract modification - Boeing has been awarded a $1.68B modification to a previously awarded contract for C-17 Globemaster III sustainment. Work will be performed at various locations including, but not limited to, Long Beach, California; San Antonio, Texas; Robins Air Force Base, Georgia; Charleston, South Carolina; McCord AFB, Washington; and various locations around the globe, and is expected to be completed by October 31, 2027. This contract involves Foreign Military Sales to Australia, Canada, India, Kuwait, NATO Airlift Management Program, Qatar, United Arab Emirates, and the United Kingdom. Fiscal 2025 operation and maintenance funds in the amount of $361.83M; and FMS funds in the amount of $172.56M are being obligated at the time of award. The Air Force Lifecycle Management Center is the contracting activity.
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BA | Hot Stocks17:13 EDT Boeing awarded $6.9B Air Force contract action - Boeing was awarded a ceiling $6.9B undefinitized contract action, fixed-price incentive, indefinite-delivery/indefinite-quantity contract for Small Diameter Bombs Increment One. This contract provides for Lots 20-29 production and delivery of Small Diameter Bombs, and a guaranteed minimum Lot 20 award. Work will be performed in St. Louis, Missouri, and is expected to be completed by December 31, 2035. This contract involves Foreign Military Sales to Japan, Bulgaria, and Ukraine. The Direct Attack Guidance Branch is the contracting activity.
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DELL | Hot Stocks16:58 EDT Dell Technologies Chairman Michael Dell sells $1.22B in company shares - Dell Technologies' Chairman of the Board Michael Saul Dell disclosed that he had sold 10M shares of company stock at $122.40 per share on September 26, for a total transaction amount of $1.22B
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TGT | Hot Stocks16:57 EDT Target's Gomez sells 6,348 common shares - In a regulatory filing, Target executive officer Richard Gomez disclosed the sale of 6,348 common shares of the company on September 27 at a price of $157.17 per share.
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VAL | Hot Stocks16:53 EDT Valaris CCO Lyne sells 26,000 common shares - In a regulatory filing, Valaris CCO Matthew Lyne disclosed the sale of 26,000 common shares of the company on September 30 at a price of $55.769 per share.
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LTH | Hot Stocks16:52 EDT Life Time Group closes two sale-leaseback transactions - Life Time Group "announced that it has closed on two sale-leaseback transactions for two properties for approximately $65 million in gross proceeds. Terms were similar to recent transactions. These transactions bring the Company's total gross proceeds from sale-leasebacks to approximately $213 million year-to-date."
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CRCT | Hot Stocks16:48 EDT Cricut adds new independent board member Heidi Zak - Cricut announced an expansion of the company's board of directors."We are excited to announce the addition of Heidi Zak as an independent board member and member of our audit committee. This increases the size of our board of directors from seven to eight members," said Jason Makler, Chairman of Cricut's Board of Directors. "Heidi's skills and experiences complement the other board members and Cricut leadership. Heidi has a demonstrated track record of focused marketing, scaling and leading a successful company whose customers are similar to Cricut's core user base."Ashish Arora, Chief Executive Officer of Cricut added, "Heidi's insight as co-founder and CEO of ThirdLove coupled with her prior professional endeavors will be immediately valuable to Cricut. Her leadership includes the ability to develop new markets and focus on the overall brand and customer experience. Her keen understanding of a core segment of customers and marketing to those needs will help guide our overall acquisition and engagement strategy. I am looking forward to working closely with Heidi and I am thrilled that she is joining our board of directors."
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WMT | Hot Stocks16:37 EDT Walmart CEO McMillon sells 29,124 common shares - In a regulatory filing, Walmart president and CEO Douglas McMillon disclosed the sale of 29,124 common shares of the company on September 26 at a price of $80.6426 per share.
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KBH | Hot Stocks16:36 EDT KB Home CFO to retire in early 2025 - KB Home "announced that Jeff J. Kaminski, its Executive Vice President and Chief Financial Officer, has decided to retire in early 2025 after more than 14 years in that position. Mr. Kaminski will continue to serve as Chief Financial Officer through the filing of KB Home's 2024 Annual Report on Form 10-K and plans to assist the Company with the transition of his position. KB Home is following its succession planning process to identify its next chief financial officer."
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DJT | Hot Stocks16:36 EDT Trump Media expands TV streaming delivery network - Trump Media announced that its custom-built content delivery network, or CDN, is now operating from multiple sites across the country. The company said that the expansion transforms Truth Social's CDN-which powers the company's Truth+ TV streaming service-into a more sophisticated distributed content network, with streaming content originating from multiple geographic locations.
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WMT | Hot Stocks16:34 EDT Walmart EVP Furner sells 13,125 common shares - In a regulatory filing, Walmart executive VP John Furner disclosed the sale of 13,125 common shares of the company on September 26 at a price of $81.04 per share.
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GRTS | Hot Stocks16:30 EDT Gritstone announces interim GRANITE study data - Gritstone announced interim Phase 2 data from the ongoing Phase 2 study evaluating GRANITE, its individualized neoantigen targeting immunotherapy, in frontline microsatellite stable colorectal cancer, or MSS-CRC. The randomized, controlled study is designed to evaluate the clinical benefit of maintenance therapy with GRANITE in combination with immune checkpoint inhibitors in addition to fluoropyrimidine/bevacizumab versus fluoropyrimidine/bevacizumab alone. Overall progression-free survival data show an encouraging benefit for GRANITE patients. As expected, the greatest benefit was observed in the 50% of patients with lower disease burden at study entry, as measured by circulating tumor DNA at study baseline. Continued follow-up is needed to fully assess GRANITE effects and determine whether a plateau of improved PFS is achieved. The most recent ctDNA assessments for the 20 patients who remain without disease progression were supportive of potential benefit from treatment with GRANITE: 12 of 13 GRANITE patients had stable ctDNA titers below the assay limit of quantitation; 4 of 7 control patients exhibited the same characteristic. Interim data demonstrated an emerging PFS benefit to all GRANITE recipients 21% relative risk reduction of progression or death with GRANITE vs. standard of care control in all treated population 33% GRANITE and 23% of control patients remain on study and free of progression. Last ctDNA assessment is below the assay LOQ in 12/13 GRANITE and 4/7 control patients. Clinical benefit was most notable in patients with low disease burden. 38% relative risk reduction of progression or death with GRANITE vs. SOC control with low ctDNA subgroup. Low baseline ctDNA is a likely prognostic and predictive factor. Immune data were consistent with clinical activity. Functional neoantigen-specific T cells were observed in all 16/16 GRANITE patients tested by ELISPOT. Association of PFS and peak ex vivo ELISPOT responses was apparent, suggesting that ex vivo ELISPOT may be a surrogate for PFS. GRANITE demonstrated a favorable safety and tolerability profile. No patients discontinued study treatment due to an adverse event. Common adverse events were the mild systemic and local effects associated with any potent vaccine, i.e. transient flu-like illness. One treatment-related serious AE occurred in the GRANITE arm. Gritstone plans to review the PFS data with FDA in the coming months and agree on next steps to advance GRANITE, including a potential Phase 2 or 3 trial using ctDNA levels as eligibility criteria.
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TZOO | Hot Stocks16:28 EDT Travelzoo CEO sells $1.14M in common stock - In a regulatory filing, Travelzoo disclosed that its CEO Holger Bartel sold 100K shares of common stock on September 26th in a total transaction size of $1.14M.
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MDU | Hot Stocks16:26 EDT MDU Resources appoints Anthony Foti Chief Legal Officer - MDU Resources Group board of directors has approved the appointment of Anthony Foti as Chief Legal Officer and corporate secretary, effective October 7. He will report directly to MDU Resources president and CEO, Nicole Kivisto, and succeed Paul Sanderson, who was previously announced as VP, Chief Legal Officer and secretary at Everus Construction Group.
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PDM | Hot Stocks16:24 EDT Piedmont CFO Robert Bowers to switch roles, Sherry Rexroad to succeed - Piedmont Office Realty announced that Robert Bowers, who has served as the company's CFO since 2007, will transition to an administrative role effective November 8 and Sherry Rexroad will succeed him. Rexroad brings approximately 30 years of experience in REITs and real estate, finance, and capital markets to the role, having most recently served as CFO of Store Capital.
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ZS | Hot Stocks16:22 EDT Zscaler announces Adam Geller as chief product officer - Zscaler announced the appointment of Adam Geller as chief product officer to scale and accelerate the company's next phase of innovation and growth. Geller has over 25 years of product and engineering experience across multiple domains of cybersecurity.
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NITO | Hot Stocks16:20 EDT N2OFF provides update regarding Solar PV Joint Venture Project - N2OFF provided an update regarding its Solar PV Joint Venture Project with Solterra Renewable Energy. As announced on September 11, following receiving the required approval to connect to the power grid of a regional energy service provider in Meltz, Germany, Solterra sent the company an additional report that indicates possible avenues to potentially increase the project's value. The current project design requires a grid connection of 97 MW to deliver an aggregate capacity of 111 MWp. The approved grid connection capacity exceeds such requirement by approximately 10%, providing two potential pathways to maximize the value: increasing the project's capacity by up to 10%; or incorporating battery storage solutions. The company and Solterra are currently examining both potential pathways in hopes of determining which could enhance the project's overall efficiency and profitability.
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AMPG | Hot Stocks16:20 EDT Nasdaq notifies AmpliTech Group of non-compliance of listing rules - AmpliTech Group eceived a notice from The NASDAQ Stock Market indicating that the Company is not in compliance with the minimum bid price requirement of $1.00 per share under the Nasdaq Listing Rules . Based on the closing bid price of the Company's listed securities for the last 30 consecutive business days from August 15, 2024 to September 26 the Company no longer meets the minimum bid price requirement set forth in Listing Rules 5550(a)(2). The Notice is only a notification of deficiency and has no current effect on the listing or trading of the Company's securities on The Nasdaq Capital Market...The Company intends to monitor the closing bid price of its common stock between now and March 26 and to evaluate its available options to regain compliance within the compliance period.
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PEB | Hot Stocks16:19 EDT Pebblebrook Hotel says Naples waterfront resort impacted by Hurricane Helene - Pebblebrook Hotel Trust announced that several of its resorts were impacted by Hurricane Helene and that repair and remediation costs net of insurance payments are expected not to be material. The 189-room LaPlaya Beach Resort & Club, a luxury waterfront resort in Naples, Florida, was impacted by the storm starting on September 26, 2024. The resort, which spans three buildings on six acres, including two on the Gulf of Mexico, is undergoing a thorough damage assessment. The Company, along with the operator of LaPlaya, Noble House Hotels & Resorts, is actively working on cleanup, repairs and a comprehensive assessment. Currently, two of the three guestroom buildings at LaPlaya, including the Gulf Tower and Bay Tower, are open and operational. BALEEN Naples, LaPlaya's primary three-meal restaurant and waterfront dining venue, is also open and accepting guests. Additionally, LaPlaya Beach Club is open and operating normally. However, the Beach House, which contains 79 guestrooms, is currently closed for repairs, with cleanup of the ground floor already underway. Initial assessments indicate that the primary impact to the Beach House is related to water infiltration on the ground floor. At this time, the Company anticipates that repair costs will not be material and expects property and flood insurance to mitigate the financial impact. September and October are part of the normal low season for Naples and LaPlaya. The 200-room Jekyll Island Club Resort in Georgia sustained minor damage and a temporary power outage due to the hurricane. The resort did not close and is now operating normally. Based on initial assessments, repair costs are not expected to be material. The Company's other resorts in southern Florida affected by Hurricane Helene are fully operational, and any necessary repair costs are not expected to be material.
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CTO | Hot Stocks16:18 EDT CTO Realty Growth reports $275M of investment activity year-to-date - The Company's investment activity, including acquisitions and structured investments, was $191.3M in the quarter and now totals $273.8M year-to-date, at a weighted average yield of 9.1%. As the Company has exceeded its 2024 guidance for investment activity, it will provide updated investment guidance when reporting its full third quarter results on October 24. In addition to previously announced investment activity, the company recently originated a $43.8M first mortgage loan that has an initial term of two years with a one-year extension option, carries an initial fixed interest rate of 11%, and included an origination fee of 1.25%. The loan is secured by over 100 acres entitled for an over 2 million square foot mixed-use development
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KNTK | Hot Stocks16:17 EDT Kinetik Holdings General Counsel Carpenter to retire - Kinetik Holdings "announced Todd Carpenter, General Counsel and Chief Compliance Officer, informed Kinetik of his intent to retire from the Company effective February 28, 2025. Mr. Carpenter will continue his current day-to-day responsibilities and ensure a seamless transition. Following his retirement, he will provide ongoing support to the Company. Kinetik has commenced an internal and external search for Mr. Carpenter's successor and will make an announcement in due course."
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TSE | Hot Stocks16:16 EDT Trinseo announces restructuring moves, will exit virgin polycarbonate output - Trinseo announced restructuring initiatives to better position the business for longer-term growth, improved profitability, and increased cash generation. Effective October 1, 2024, the Company is combining the management of its Engineered Materials, Plastics Solutions and Polystyrene businesses, resulting in a reduction in workforce due to the consolidation of business management roles and support functions. These actions began in the third quarter of 2024 and are anticipated to be substantially complete by the end of 2025. The expected annualized run rate cost savings is $30 million with approximately $25 million realized in 2025 and the full run rate achieved by the end of 2026. The newly combined Engineered Materials, Plastics Solutions and Polystyrene businesses will be led by Francesca Reverberi, SVP, Engineered Materials. Bregje "Bee" Van Kessel, who currently leads the Plastics Solutions and Polystyrene businesses, will assume the role of SVP, Corporate Finance and Investor Relations reporting to David Stasse, EVP, Chief Financial Officer. Han Hendriks, who leads technology and innovation, will add oversight responsibilities for the Company's sustainability activities as Chief Technology and Sustainability Officer. Additionally, the Company has decided to exit virgin polycarbonate production at its Stade, Germany production facility following discussions with the relevant works councils. Production is anticipated to end by January 2025 with severance and related benefit payments expected to complete by the end of 2026. Once operations have ceased, all the Company's polycarbonate needs for its downstream, differentiated compounded products will be purchased from external suppliers, including its licensees, with the exception of its dissolution-based polycarbonate production. This purchasing change is expected to result in an annualized run rate profitability improvement of $15 million to $20 million relative to manufacturing at Stade. The Company expects to record total pre-tax restructuring charges of $23 million to $28 million, principally comprised of $22 million to $26 million of severance and related benefit costs and $1 million to $2 million of asset-related and contract termination charges, primarily related to the virgin polycarbonate manufacturing site in Stade, Germany.
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ULH | Hot Stocks16:14 EDT Universal Logistics acquires Parsec for $193.6M - Universal Logistics Holdings announced its acquisition of Parsec, Parsec Intermodal of Canada, and OB Leasing. Parsec is a market-leading provider of terminal management services to the Class I, regional, and short-line railroads across North America. For the trailing-twelve months ended August 31, Parsec reported total operating revenues of $230.2M. Parsec will operate within Universal's contract logistics segment, and the transaction is expected to be immediately accretive. The cash purchase price was $193.6M, subject to customary post-closing adjustments.
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IGMS | Hot Stocks16:10 EDT IGM Biosciences CEO Fred Schwarzer, CSO Bruce Keyt, CMO Chris Takimoto step down - As part of the company's strategic pivot to autoimmunity, Fred Schwarzer, CEO, president and director, and Bruce Keyt, chief scientific officer, or CSO, will step down from their current roles at the company. Schwarzer and Keyt are expected to remain as consultants. Chris Takimoto, chief medical officer, is stepping down from his current role to pursue an opportunity outside the company.
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JNJ | Hot Stocks16:07 EDT Johnson & Johnson files for FDA approval of Darzalex Faspro-based regimen - Johnson & Johnson announced the submission of a supplemental Biologics License Application, or sBLA, to the FDA for approval of a new indication for Darzalex Faspro in combination with bortezomib, lenalidomide and dexamethasone for the treatment of adult patients with newly diagnosed multiple myeloma for whom autologous stem cell transplant, ASCT, is deferred or who are ineligible for ASCT. This submission is supported by data from the Phase 3 CEPHEUS study (NCT03652064), which showed 60.9% of patients achieved minimal residual disease-negativity with D-VRd and the risk of progression or death was reduced by 43%. The CEPHEUS study evaluated the efficacy and safety of D-VRd compared to bortezomib, lenalidomide and dexamethasone for NDMM patients for whom ASCT was not planned as initial therapy. "Darzalex Faspro-based therapies continue to be at the forefront of multiple myeloma research. We're encouraged that the FDA Oncologic Drugs Advisory Committee recently voted in favor of MRD-negativity as an acceptable endpoint in multiple myeloma trials. CEPHEUS is the first registrational study with a primary endpoint of MRD-negativity filed by Johnson & Johnson in multiple myeloma," said Craig Tendler, M.D., Vice President, Late Clinical Development and Global Medical Affairs, Innovative Medicine, Johnson & Johnson. "The data from CEPHEUS add to the body of evidence for Darzalex Faspro in newly diagnosed multiple myeloma and, together with the results of the PERSEUS study, demonstrate the potential benefit of this quadruplet regimen for newly diagnosed patients, regardless of transplant eligibility."
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RPTX | Hot Stocks16:06 EDT Repare Therapeutics reports 'encouraging' Phase 1 camonsertib combo data - Repare Therapeutics reported data highlighting the clinical benefits of camonsertib, a potential best-in-class oral small molecule ATR inhibitor, combined with palliative radiation for the treatment of metastatic tumors harboring an ataxia-telangiectasia-mutated mutation. These data from a clinical trial conducted in collaboration with investigators at Memorial-Sloan Kettering Cancer Center were presented at the American Society for Radiation Oncology annual meeting in Washington, DC by Nancy Lee, MD, FASTRO, Radiation Oncologist & Early Drug Development Specialist, Memorial Sloan Kettering Cancer Center and titled, "Genotypically-Selected Pan Cancer Trial of Camonsertib with Palliative Radiation in the Treatment of Metastatic Tumors Harboring an Ataxia-Telangiectasia Mutated Mutation." "These encouraging early Phase 1 data build further support for the broad clinical potential of camonsertib," said Maria Koehler, MD, PhD, Executive Vice President and Chief Medical Officer of Repare. "This first-in-human study combining camonsertib, an ATR inhibitor, with palliative radiation provides early clinical data showing that the combination has the potential to radiosensitize for higher clinical benefit in patients with tumors harboring pathogenic ATM mutations versus those with variants of unknown significance. We are highly encouraged by this early look at the response rate and safety profile of this combination in the Phase 1 setting."
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IGMS | Hot Stocks16:06 EDT IGM Biosciences to reduce spending on aplitabart, reduce workforce - In light of the emerging data from the company's ongoing randomized clinical trial of aplitabart in second-line metastatic colorectal cancer, together with the significant opportunity in autoimmunity, the company has decided to immediately begin taking steps, including a reduction in force, to minimize its future spending on the research and clinical development of aplitabart and other oncology candidates. Final data from the randomized clinical trial of aplitabart in second-line metastatic colorectal cancer will be shared in an appropriate forum in the future. As a result of these actions, IGM believes it can extend its current cash runway into 2027.
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GENI... | Hot Stocks16:06 EDT Genius Sports names Mark Kropf group CTO - Genius Sports Limited (GENI) announced the appointment of Mark Kropf as its Group Chief Technology Officer. Kropf joins Genius Sports from Google (GOOGL), where he held the position of Technical Director within Google's Office of the Chief Technology Officer. In this role, Kropf played an instrumental role in advancing Google's generative AI capabilities, improving developer experience and driving sustained innovation. Mark Locke, CEO of Genius Sports, said: "I am thrilled to welcome Mark Kropf as our Group CTO. His outstanding track-record of technology leadership at both Google and Pivotal, combined with his deep experience in AI-focused innovation, will play a critical role in our future. Our cutting-edge GeniusIQ platform is already driving the AI revolution in the global sports ecosystem and Mark's expertise will play a key role in amplifying and accelerating that transformation."
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IGMS | Hot Stocks16:04 EDT IGM Biosciences appoints Mary Beth Harler as CEO - IGM Biosciences announced a strategic pivot and pipeline transformation. The company's lead candidates include imvotamab, a CD20 x CD3 bispecific T cell engager being developed in rheumatoid arthritis, systemic lupus erythematosus and myositis, and IGM-2644, a CD38 x CD3 bispecific T cell engager, which is expected to enter into a clinical study for generalized myasthenia gravis by the end of 2024. IGM also announced today that Mary Beth Harler has been appointed as CEO and to the board of directors. Harler joined IGM in 2021 as president, autoimmunity and inflammation.
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QTRX LLY | Hot Stocks16:01 EDT Quanterix announces commercialization of p-Tau 217 test kit - Quanterix (QTRX) "announced it is making its Simoa(R) p-Tau 217 Planar Kit commercially available as part of the next phase of Alzheimer's Disease test development. The kit uses p-Tau 217 antibody technology licensed from Eli Lilly and Company (LLY) and Quanterix's SP-X platform. In March 2022, Quanterix first announced its entry into license and collaboration agreements with Lilly, which specified the initial development of a test for the Eli Lilly Clinical Diagnostics Laboratory, a wholly owned subsidiary of Lilly. Now, with the Simoa(R) p-Tau 217 Planar Kit, Quanterix will expand access to this technology by selling customers research use only (RUO) instrumentation and consumables to develop p-Tau 217 blood tests and services using p-Tau 217 antibody technology licensed from Lilly. The Simoa(R) p-Tau 217 Planar Kit will be available immediately."
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FIAC | Hot Stocks16:00 EDT Focus Impact Acquisition Corp trading resumes
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FIAC | Hot Stocks15:58 EDT Focus Impact Acquisition Corp trading halted, volatility trading pause
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NXST | Hot Stocks15:43 EDT Nexstar CCO Weitman sells 7,261 common shares - In a regulatory filing, Nexstar chief communications officer Gary Weitman disclosed the sale of 7,261 common shares of the company on September 26 at a price of $164.80 per share.
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KITT | Hot Stocks14:41 EDT Nauticus completes Aquanaut Mark 2 qualification, begins commercial operations - Nauticus Robotics announced completion of qualification testing of its flagship underwater vehicle, Aquanaut Mark 2. The Aquanaut used for testing, Vehicle 2, is now performing commercial inspection work at a production field in the Gulf of Mexico. This transition from qualification to commercial operations marks a major milestone for the company. Nauticus' Autonomous Solutions team completed the qualification testing at a decommissioned field off the coast of Louisiana. All testing was performed autonomously without need of a tether. Vehicle capabilities now certified are flyover surveys, leak detection, obstacle avoidance, and visual inspections. The team also verified sending mission updates mid-execution using only acoustic communications. The vehicle accepted and changed the mission as commanded. As part of the missions, Aquanaut sent compressed photos to the surface via acoustic communications, which the operators viewed for subsea asset verification. Following the successful testing and data review, Vehicle 2 transitioned to full-scale commercial operations at a nearby production field in approximately 1,000 meters of water.
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GOLD | Hot Stocks14:36 EDT Barrick Gold, Mali reach agreement to settle disputes - Barrick Gold Corporation and the government of Mali have agreed to find a global resolution to the existing claims and disputes between the government and Barrick's Loulo and Gounkoto gold mining companies. Details of the agreement, based in essence on Barrick's original proposals, will be made public once the terms of the settlement have been finalized. Barrick president and chief executive Mark Bristow said the company's mutually beneficial relationship with Malian governments had endured for 30 years and occasional differences with successive regimes had always been amicably resolved. "The current negotiations have proved challenging but we're encouraged by the government's recognition of the importance of securing the long-term viability of the Loulo-Gounkoto complex as a substantial contributor to the Malian economy. We look forward to working with the government to normalize our long-standing partnership." Bristow said.
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CLSK | Hot Stocks14:35 EDT CleanSpark says no material damage to any site infrastructure from hurricane - CleanSpark provided comments and updates on the impact of Hurricane Helene, including a statement from CEO Zach Bradford, who said in part: "In the wake of Hurricane Helene's destructive path across the Southeastern United States, we extend our deepest condolences to the communities, families, and individuals who have suffered loss, damage, and disruption due to this catastrophic event. We recognize the immense challenges faced by those in regions where the storm has left countless without power, water, and other basic necessities. The loss of life, including first responders who bravely served during this crisis, underscores the severity of Helene's impact. Our thoughts are with every person whose life has been altered by this hurricane... Most importantly, all our team members are safe. Additionally, our geographically diverse portfolio of sites allowed us to maintain approximately 10.5 EH/s at our sites in Northwest Georgia, Mississippi, and Tennessee throughout the storm. To ensure health and safety, and to avoid any undue pressure on the electrical grid, we shut 365 MW of our Southeast Georgia sites down as the hurricane began impacting the region. Since then, we have been in regular communication with the local utilities to safely bring up the sites in a manner that ensured the local community was supported throughout the process. Within 24 hours, we were able to bring hashrate back to over 17.5 EH/s. We have now brought approximately 200 MW back online and expect to bring the remaining 165 MW online in the coming week after the utilities and communities around us receive power. The majority of the 165 MW remaining offline is projected to be restored to communities no later than October 4, 2024. Our teams are prepared to promptly restore normal operations as soon as power becomes available. We have also thoroughly evaluated all of our sites and are pleased to report that we have experienced no material damage to any site infrastructure. We are not aware of any material losses related to our mining servers and will continue this evaluation as we energize the remaining sites. Our hashrate is currently at approximately 22 EH/s. When our sites are fully reenergized, we expect to reach standard operations at approximately 28 EH/s."
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AGCO | Hot Stocks14:23 EDT Agco says TAFE interests 'fundamentally misaligned' with shareholders - Agco issued a statement in response to the letter issued by Tractors and Farm Equipment Limited, which reads: TAFE's interests are fundamentally misaligned with AGCO shareholders, and its letter today is just the latest tactic in its ongoing, self-serving campaign. In fact, TAFE's letter was issued shortly after (i) AGCO prevailed at the Indian Supreme Court against TAFE's efforts to avoid arbitrating one of its commercial disputes, and (ii) AGCO's immediate termination of TAFE's right to use the Massey Ferguson trademark and distribute Massey Ferguson products in India and other countries following TAFE's inappropriate and unauthorized actions. AGCO's Board of Directors, which has been meaningfully refreshed in recent years, is overseeing management's successful execution of the Company's transformation and strategic plan, which resulted in record full-year net sales and adjusted operating margins in 2023, outperforming the global market. AGCO is also on track to deliver structurally higher adjusted operating margins compared to prior industry downturns. AGCO's Board of Directors and management team remain committed to acting in the best interests of all AGCO shareholders."
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LVMUY | Hot Stocks14:18 EDT LVMH sells Off-White LLC to Bluestar Alliance, terms not disclosed - LVMH announced that it has sold Off-White LLC, the company that owns the Off-White brand, to Bluestar Alliance, LLC, a New York-based brand management company. Terms of the transaction are not being disclosed. Founded in 2012 by Virgil Abloh, Off-White is an international luxury streetwear brand. "Virgil was a creative pioneer who had a profound impact on the global fashion industry and creative community. Acquiring Off-White represents a unique opportunity for Bluestar Alliance to honor and build upon the enduring legacy of Virgil Abloh. His visionary approach to fashion resonates deeply with our core values. Abloh's ability to fuse street culture with high fashion has laid a powerful foundation that aligns with our vision of fostering innovation while embracing diversity. The acquisition of Off-White, and the opportunity to provide strategic investment and build upon our global network of resources will allow for the continuation of the cultural and creative momentum that Virgil ignited, one that Bluestar Alliance is committed to carrying forward," said Joey Gabbay, CEO of Bluestar Alliance.
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GM | Hot Stocks12:50 EDT GM's Cruise to pay $1.5M fine to resolve NHTSA consent order - The National Highway Traffic Safety Administration announced a consent order with Cruise, which is majority-owned by General Motors. The action addresses several incomplete reports by the company under NHTSA's Standing General Order for crashes involving automated driving systems. Two of these reports failed to disclose the post-crash details of an Oct. 2, 2023, crash in which a Cruise vehicle equipped with an ADS and operating without a driver dragged a pedestrian approximately 20 feet before coming to a complete stop. The consent order includes both monetary and non-monetary provisions designed to improve Cruise's compliance with the law and to increase oversight of the company's safety practices. NHTSA's Standing General Order requires crash reports within specified timeframes based on the severity of a crash. The crash reports must include pre-crash, crash, and post-crash details. NHTSA discovered Cruise had omitted details from its crash reports after viewing video it requested from Cruise of the Oct. 2 incident. Cruise has also amended four other Standing General Order reports to provide additional detail on other crashes. The base term of the order is two years, with NHTSA reserving the option to extend the order for a third year. As part of the order, Cruise will pay a total monetary penalty of $1.5M and is required to submit to NHTSA a corrective action plan on how it will improve its compliance with the Standing General Order. Reference Link
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F | Hot Stocks12:22 EDT Ford unveils Ford Power Promise to provide benefits to EV buyers - Ford announced the Ford Power Promise, which is a suite of benefits to customers who purchase or lease a new electric vehicle. "Buy or lease a retail Ford Mustang Mach-E, F-150 Lightning or E-Transit and take a complimentary home charger with you or have it delivered, and when you're ready, an expert comes out to install it at no charge for a standard install," the company said. "This takes the guesswork out of installation, including costs, to help you save time and money by filling up at home. Less stress, more convenience.If you're a Ford Pro fleet customer, we have you covered with a commercial charging cash incentive... Road trips don't happen every day, but when you are on the road, you need to know where to fill up. Our BlueOval Charge Network automatically searches for chargers across various networks, including Electrify America and Tesla Superchargers and adds charging stops to your route via the Connected Navigation in the vehicle. With Plug and Charge, you plug in when you get there, and the payment is automatically made via your FordPass account. It's that easy... We're confident in the quality of our batteries, and we want you to be confident, too. That's why we provide an eight-year/100,000-mile high-voltage battery warranty for every Ford electric vehicle. Ford has your battery covered... We're dedicated to providing you with the support you need whenever you need it, including complimentary roadside assistance if your vehicle's range runs too low. We're also expanding our 24/7 Ford advisor for electric vehicle support, so you'll be talking or texting with real people. We are here when you need us." Reference Link
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CAVA | Hot Stocks12:07 EDT Cava Group drops 2% to $121.30 after cautious Hunterbrook report
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STLA | Hot Stocks12:00 EDT Stellantis falls -13.8% - Stellantis is down -13.8%, or -$2.21 to $13.85.
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J | Hot Stocks12:00 EDT Jacobs falls -15.6% - Jacobs is down -15.6%, or -$24.24 to $131.29.
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HRTG | Hot Stocks12:00 EDT Heritage Insurance falls -18.1% - Heritage Insurance is down -18.1%, or -$2.81 to $12.70.
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JKS | Hot Stocks12:00 EDT JinkoSolar rises 12.9% - JinkoSolar is up 12.9%, or $2.99 to $26.20.
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YRD | Hot Stocks12:00 EDT Yirendai rises 13.2% - Yirendai is up 13.2%, or 66c to $5.65.
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XYF | Hot Stocks12:00 EDT X Financial rises 14.3% - X Financial is up 14.3%, or 81c to $6.48.
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CNMD | Hot Stocks11:50 EDT Conmed says Hurricane Helene impacted operations in Florida, Georgia - In a regulatory filing on September 30, 2024, CONMED Corporation issued the following statement on the impact from Hurricane Helene on the company's operations: "The path of Hurricane Helene impacted the Company's manufacturing facility in Largo, Florida and the Company's distribution center in Lithia Springs, Georgia. The Company prioritizes the safety of its employees, and ceased manufacturing operations at its Largo, Florida facility for approximately 24 hours. Employee absences at the Largo facility were significant after the storm had passed, temporarily impacting the facility's manufacturing. As of September 30, 2024, the Company has confirmed that all employees are safe, and no significant damage was reported at either facility, and both facilities are back to normal operations. The Company also understands that its customers in the southeastern United States delayed surgeries and other activity due to the storm, and some areas continue to be affected. The Company is unable to estimate the financial impact of Hurricane Helene at this time."
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PRTA | Hot Stocks11:23 EDT Prothena sinks 20% to $16.11 following exit of Chief Medical Officer
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HES CVX | Hot Stocks11:10 EDT Hess announces HSR merger clearance, says John Hess will not join Chevron board - Hess Corporation (HES) announced that the Federal Trade Commission antitrust review of the Chevron-Hess merger has been completed, satisfying one of the closing conditions for the transaction. "We are very pleased that our merger with Chevron has cleared this significant regulatory hurdle. This transaction continues to be an outstanding deal for Hess and Chevron shareholders and will create a premier integrated energy company that is ideally positioned for the energy transition," said CEO John Hess. "To facilitate completion of the merger, Hess and Chevron have agreed that Mr. Hess will not be appointed to the Chevron Board of Directors in order to address a concern raised by the FTC about Mr. Hess' communications with a limited number of OPEC officials. However, Mr. Hess will serve as an advisor and representative for Chevron on government relations and social investments in Guyana as well as on support for the Salk Institute's Harnessing Plants Initiative. The Hess Board of Directors believes that the competitive concern raised by the FTC about Mr. Hess' communications is without merit, and fully supports Mr. Hess in his role as CEO of Hess Corporation. Mr. Hess' public and private communications with OPEC officials were consistent with his communications with U.S. government officials, the International Energy Agency and global business leaders on what will be needed to ensure an affordable and orderly energy transition... Over the past five years, Hess Corporation has had the highest cash flow reinvestment rate of any oil company - majors and independents - and has been the only oil company to reinvest in excess of its cash flow1 in order to grow oil and gas supply... Completion of the merger remains subject to the Merger Agreement's closing conditions, including the satisfactory resolution of ongoing arbitration proceedings regarding preemptive rights in the Stabroek Block joint operating agreement," the company added.
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SOBR | Hot Stocks11:06 EDT SOBRsafe announces 1-for-110 reverse stock split - SOBR Safe will proceed with a 1-for-110 reverse stock split of its outstanding shares of common stock following approval by its board of directors. This ratio is within the range approved by stockholders at the annual meeting of SOBRsafe's shareholders held on June 3, 2024. The Reverse Stock Split is expected to become effective at 12:01 a.m., Eastern Time, on October 2, 2024. SOBRsafe expects the Common Stock will begin trading on a post-split basis at the market open on October 2, 2024, under the existing symbol "SOBR" with the new CUSIP number 833592 306. The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with Nasdaq's minimum bid price requirement for continued listing on The Nasdaq Capital Market.
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CVX HES | Hot Stocks11:05 EDT Chevron confirms Hess merger clears FTC antitrust review - Chevron (CVX) announced the Federal Trade Commission completed antitrust review of the company's merger with Hess Corporation (HES), satisfying a key closing condition for the transaction. "This is an important step toward completing the merger, which will benefit our shareholders, the industry, and the country of Guyana, and add world class assets to our already advantaged portfolio. We look forward to completing the transaction and welcoming Hess into our company," said Chevron Chairman and CEO Mike Wirth. "To facilitate completion of the merger, Hess and Chevron have agreed that Hess CEO John Hess will not be appointed to the Chevron Board of Directors. Instead, Mr. Hess will serve as an advisor to Chevron on government relations and social investments in Guyana as well as on support for the Salk Institute's Harnessing Plants Initiative... Completion of the merger remains subject to other closing conditions, including the satisfactory resolution of ongoing arbitration proceedings regarding preemptive rights in the Stabroek Block joint operating agreement. Chevron remains confident that the arbitration process will affirm the company's position. Hess shareholders approved the merger agreement in May 2024," the company added.
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WDS OCINF | Hot Stocks11:00 EDT Woodside Energy completes OCI Clean Ammonia acquisition - Woodside (WDS) has completed the acquisition of 100% of OCI Clean Ammonia Holding B.V., which holds its lower carbon ammonia project in Texas, from OCI (OCINF). The completion follows Woodside's announcement on 5 August 2024 that it had entered into an agreement to acquire OCI's 1.1 Mtpa Clean Ammonia Project. Following start up of carbon capture and sequestration, the Project will generate ammonia with less than 35% the lifecycle emissions intensity of unabated ammonia. The Project remains under construction and is targeting production of first ammonia from 2025 and lower carbon ammonia from 2026.5 OCI will manage the construction of the Project through provisional acceptance. The all-cash consideration of approximately $2,350 million is inclusive of capital expenditure through completion of the first phase, with 80% paid and the remaining 20% to be paid at Project completion.
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NFE | Hot Stocks10:58 EDT New Fortress Energy says FLNG asset achieves First Full Cargo, Sail Away - New Fortress Energy provided an update on its initial Fast LNG asset located offshore Altamira, Mexico. NFE's FLNG asset has achieved First Full Cargo & Sail Away, with its first full LNG cargo fully loaded onto the Energos Princess and setting sail for Europe. "This is a significant milestone for our Fast LNG installation. Natural gas and power supply are critical components of a sustainable, affordable, and cleaner energy system and we're excited to be able to provide our own gas supply to the world markets and our customers," said Wes Edens, Chairman and CEO of New Fortress Energy.
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QMMM | Hot Stocks10:39 EDT QMMM Holdings Ltd trading resumes
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CVX HES | Hot Stocks10:39 EDT FTC order prohibits Chevron from appointing Hess CEO to board - Tre Federal Trade Commission Chair Lina Khan, joined by Commissioner Rebecca Kelly Slaughter and Commissioner Alvaro Bedoya, said in a statement: "The Organization of the Petroleum Exporting Countries is a cartel that, for decades, has enjoyed outsized control over oil prices in the United States. When OPEC and its allies, collectively known as OPEC+, decide to limit or cut back oil production, American consumers pay more at the pump and American businesses face higher costs...Today's complaint identifies statements by Hess Corporation CEO John Hess that signaled support for efforts by OPEC+ to stabilize production. The proposed order would prohibit Chevron Corporation from appointing Mr. Hess to its Board of Directors. This action builds on the Commission's action in Exxon-Pioneer, which surfaced troubling statements by Pioneer CEO Scott Sheffield that suggested efforts to coordinate with members of OPEC+. Commissioners Ferguson and Holyoak dissent from this matter, as they do not believe that a CEO communicating with a foreign cartel about output should be central to the antitrust analysis here...The Commission's actions in Chevron-Hess and Exxon-Pioneer mark an important step towards ensuring that U.S. oil producers are serving as a competitive check on OPEC+ rather than subordinating their independent decision-making to the goals set by a cartel." Reference Link
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AEP | Hot Stocks10:38 EDT American Electric completes sale of AEP OnSite Partners - American Electric Power announced that it has completed the sale of its distributed resources business, OnSite Partners, to funds advised by Basalt Infrastructure Partners LLC. AEP nets approximately $318M in cash after taxes, transaction fees and other customary adjustments. The sales agreement was announced in May 2024. The sale received necessary regulatory approval from the Federal Energy Regulatory Commission and federal clearance pursuant to the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
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QMMM | Hot Stocks10:34 EDT QMMM Holdings Ltd trading halted, volatility trading pause
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VICR | Hot Stocks10:32 EDT Judge rules computing systems with certain power modules infringe Vicor patents - Vicor announced that, on September 27, Administrative Law Judge Cameron Elliot of the U.S. International Trade Commission issued an Initial Determination of a Section 337 violation in the importation into the United States of certain power converter modules and computing systems containing those modules that infringe asserted claims of U.S. Patent Nos. 9,516,761 and 9,166,481. The Initial Determination also found that respondents to the investigation, including contract manufacturers of computing systems, do not possess a license to practice any claim of the asserted patents. Subject to its Final Determination, the International Trade Commission may issue an exclusion order precluding importation into the United States of computing systems containing infringing modules and cease and desist orders barring their sales in the United States.
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NFE | Hot Stocks10:22 EDT New Fortress Energy trading resumes
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NFE | Hot Stocks10:17 EDT New Fortress Energy trading halted, volatility trading pause
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NFE | Hot Stocks10:15 EDT New Fortress Energy determines to delay payment of dividend - New Fortress Energy announced that the Company has determined to delay the payment of the company's previously declared 10c per share Class A common stock dividend, with a record date of September 13, 2024, until such time as the Company has reached an agreement with its noteholders to address the Company's near-term maturities and liquidity requirements. The Company expects to reach an agreement with its noteholders in the near future, after which the Company will reevaluate the payment of the Dividend, including with respect to its amount and the timing of any potential payment.
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VZ | Hot Stocks10:12 EDT Users report problems at Verizon, says Downdetector - Reference Link
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FRFHF | Hot Stocks10:06 EDT Fairfax Financial to acquire controlling ownership of Peak Achievement Athletics - Peak Achievement Athletics announced that certain affiliates of Fairfax Financial will acquire all the equity interests in Peak currently owned by Sagard Holdings, giving Fairfax control over Peak and its stable of brands including Bauer Hockey, Cascade Lacrosse and Maverik Lacrosse. In 2017, Fairfax and Sagard purchased Peak, which has a portfolio of leading global brands that includes BAUER, CASCADE and MAVERIK. With its roots starting in Kitchener, Ontario, in 1927, Bauer Hockey is the leading hockey equipment and apparel manufacturer in the world and the No. 1 brand in the game. Cascade Lacrosse and Maverik Lacrosse combine to be the leader in lacrosse head protection and equipment. The transaction is expected to close in the fourth quarter of 2024.
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BWIN | Hot Stocks10:04 EDT Millenial Specialty Insurance unveils new brand as MSI - Millennial Specialty Insurance announced the launch of its new brand, which better reflects the company's evolution and its continued commitment to delivering a broad spectrum of specialized insurance solutions. Effective today, the company's go-to-market brand will be MSI. Founded in 2015, MSI has expanded significantly through strong organic growth and strategic acquisitions of other insurance brands that already go-to-market as MSI or will soon. It is now a top three independent MGA, with more than $1 billion in in-force written premium, supporting over 1.5 million customers via in-house underwriting, claims and customer service teams. The new brand will be rolled out across the company's updated website and its LinkedIn page, starting today. In addition, the new brand includes the brand promise of Building Insurance Better.
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AMTM | Hot Stocks10:01 EDT Amentum falls -7.2% - Amentum is down -7.2%, or -$1.84 to $23.83.
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STLA | Hot Stocks10:01 EDT Stellantis falls -12.7% - Stellantis is down -12.7%, or -$2.04 to $14.03.
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J | Hot Stocks10:00 EDT Jacobs falls -15.7% - Jacobs is down -15.7%, or -$24.41 to $131.12.
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GOTU | Hot Stocks10:00 EDT Gaotu Techedu rises 14.6% - Gaotu Techedu is up 14.6%, or 54c to $4.24.
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NOAH | Hot Stocks10:00 EDT Noah Holdings rises 15.3% - Noah Holdings is up 15.3%, or $1.69 to $12.75.
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TAL | Hot Stocks10:00 EDT TAL Education rises 17.2% - TAL Education is up 17.2%, or $1.86 to $12.66.
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UHS | Hot Stocks09:58 EDT Universal Health falls after jury finds Cumberland subsidiary liable - In a regulatory filing earlier, Universal Health Services noted that Cumberland Hospital for Children and Adolescents, or "Cumberland," an indirect subsidiary of the company, is a defendant in multi-plaintiff lawsuits filed in the Circuit Court for Richmond, Virginia, relating to allegations of inappropriate sexual contact during medical examinations by Dr. Daniel Davidow, an independent contractor and the former medical director for Cumberland. "The Company and UHS of Delaware, Inc., our administrative services subsidiary, were also named as co-defendants in the Cumberland Litigation. Plaintiffs have asserted claims of negligence, assault and battery against Dr. Davidow, false imprisonment, violations of the Virginia Consumer Protection Act, and vicarious liability for Dr. Davidow's conduct against Cumberland, the Company, and UHS Delaware. All defendants have denied liability. The claims asserted by three of the plaintiffs in the Cumberland Litigation were consolidated for trial in September of 2024. The Company and UHS Delaware were dismissed from the action during trial. On September 27, 2024, a jury entered a verdict finding Dr. Davidow and Cumberland liable and awarded these three plaintiffs combined compensatory damages of $60 million for all liability theories, an additional combined $180 million in trebled damages for violation of the VCPA, and an additional combined $120 million in punitive damages. Cumberland is evaluating all legal options and intends to challenge this verdict, including the amounts awarded in the verdict, in post-trial proceedings and on appeal. Based upon Virginia law, we expect that the punitive damage amount should be reduced to a combined maximum of $1.05 million as a matter of law. There are approximately 40 additional plaintiffs making similar allegations with claims pending in the Cumberland Litigation. As previously disclosed on Form 8-K on April 1, 2024, and Forms 10-Q for the quarterly periods ended March 31, 2024 and June 30, 2024, the Pavilion Behavioral Health System, an indirect subsidiary of the Company, was a defendant in a lawsuit filed in Champaign County, Illinois, relating to the sexual assault of one minor patient by another minor patient in 2020. The case went to trial in March 2024, and on March 28, 2024, a jury returned a verdict for ordinary negligence and awarded compensatory damages of $60 million and punitive damages of $475 million and a related judgment was entered against the Pavilion. Based on a search of verdicts in comparable cases, the magnitude of this verdict was unexpected and is unprecedented for a single-plaintiff injury case of this type in Champaign County, Illinois. The Pavilion has filed post-trial motions challenging the judgment, which were heard in August 2024, and are awaiting a decision by the court. The Pavilion will pursue an appeal as appropriate depending on the trial court's resolution of post-trial motions. We are uncertain as to the ultimate financial exposure related to the above-mentioned Cumberland and Pavilion matters and we can make no assurances regarding their outcomes, or the amounts of damages that may be held recoverable after post-judgment proceedings and appeals. While Cumberland and Pavilion have professional liability insurance to cover a portion of these amounts, the resolution of these matters may have a material adverse effect on the Company. Without reduction for any potential amounts related to the above-mentioned Cumberland and Pavilion matters, the Company and its subsidiaries have aggregate insurance coverage of approximately $221 million remaining under commercial policies for matters applicable to the 2020 policy year (in excess of the applicable self-insured retention amounts of $10 million per occurrence for professional liability claims and $3 million per occurrence for general liability claims). In the event the resolution of the Cumberland and/or Pavilion matters exhausts all or a significant portion of the remaining commercial insurance coverage available to the Company and its subsidiaries for claims that occurred in 2020 (the applicable year for substantially all of the Cumberland matters, and the Pavilion matter, as discussed above), or it requires the posting of large bonds or other collateral during appeal processes, our future results of operations and capital resources could be materially adversely impacted," the filing stated. In Monday morning trading, shares of Universal Health Services have fallen $12.75, or 5.5%, to $217.17. Reference Link
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CCL | Hot Stocks09:48 EDT Carnival falls -6.0% - Carnival is down -6.0%, or -$1.12 to $17.42.
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STLA | Hot Stocks09:48 EDT Stellantis falls -13.0% - Stellantis is down -13.0%, or -$2.10 to $13.96.
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MEG | Hot Stocks09:48 EDT Jehoshaphat Research short shares of Montrose Environmental - In a recently published report, Jehoshaphat Research says it is short Montrose Environmental. "Based on our research, we believe this company has: Obscured a decline in organic revenues in both the short and long terms; Pulled forward (inflated) revenues, as evidenced by surging contract and other assets, DSOs, etc; Adjusted EBITDA that is inflated by approximately 80%, making peer-based multiple analysis useless; A roll-up strategy that is chaotic, has failed to result in "scale," and led to heavy employee attrition; No underlying free cash flow to shareholders, and a disturbing trend in this metric; Much more financial leverage than it appears to have," the report reads. Further, Jehoshaphat says that recent acquisitions of substantial size "appear to be going bad quickly and quietly." 'The sudden disappearance of a bunch of middle managers and executives at MEG in September suggests recent downsizing, which is obviously incompatible with the level of revenue growth modeled by the Street for Q4 and 2025. Accordingly, catalysts for the short are the next two earnings reports and the FY25 guidance announcement," it adds. Shares of Montrose Environmental are down about 2% to $26.73 in morning trading. Reference Link
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J | Hot Stocks09:48 EDT Jacobs falls -16.0% - Jacobs is down -16.0%, or -$24.89 to $130.64.
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DDL | Hot Stocks09:47 EDT Dingdong rises 14.6% - Dingdong is up 14.6%, or 46c to $3.62.
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ZK | Hot Stocks09:47 EDT Zeekr rises 15.0% - Zeekr is up 15.0%, or $3.16 to $24.25.
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NIO | Hot Stocks09:47 EDT Nio rises 16.1% - Nio is up 16.1%, or $1.05 to $7.57.
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FOXX | Hot Stocks09:45 EDT ACRI Capital Acquisition Corp trading resumes
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MA AMZN | Hot Stocks09:43 EDT Mastercard, Amazon Payment Services to enable digital payment across EEMEA - Mastercard (MA) and Amazon Payment Services (AMZN) have signed a multi-year commercial partnership agreement to digitize payment acceptance in Middle East and Africa, across countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, South Africa and UAE. As part of the collaboration, the payment service provider will adopt Mastercard Gateway as a payment solution available in 40 markets in the region. "We are proud to partner with Amazon Payment Services to scale payment acceptance and accelerate digitization of payments with innovation solutions," said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
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FOXX | Hot Stocks09:40 EDT ACRI Capital Acquisition Corp trading halted, volatility trading pause
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PTEN SLB | Hot Stocks09:39 EDT Patterson-UTI, ADNOC sign agreements to formalize JV in UAE - PATTERSON-UTI ENERGY (PTEN) announced that its subsidiary, Patterson-UTI TW Holdings, has signed the previously announced joint venture agreement with a subsidiary of ADNOC Drilling, the largest national drilling contractor in the Middle East and the sole provider of drilling rig services in the Emirate of Abu Dhabi. As part of the agreement, Patterson-UTI will hold a 15% minority equity interest in Turnwell Industries, a company recently formed by ADNOC Drilling. Turnwell has been awarded a contract to drill and complete 144 unconventional wells for Abu Dhabi National Oil Company. The ADNOC Drilling subsidiary will hold a 55% majority stake, while SLB (SLB) will hold a 30% interest. In exchange for the minority equity interest, Patterson-UTI will provide unconventional drilling and completion expertise to Turnwell, as well as a limited cash contribution to fund our portion of working capital.
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SLB PTEN | Hot Stocks09:35 EDT SLB, ADNOC Drilling, Patterson-UTI to create JV Turnwell Industries - SLB (SLB) announced an agreement to create Turnwell Industries, a joint venture with ADNOC Drilling, SLB and Patterson-UTI (PTEN). The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on the acceleration of UAE's unconventional oil and gas program, with an initial 144 wells scheduled for completion by the end of 2025. SLB will provide integrated drilling, stimulation and completion services, as well as project management, digital capabilities and subsurface support as part of the venture. ADNOC Drilling through its wholly owned subsidiary ADH RSC LTD will hold a 55% majority equity stake, SLB a 30% equity stake and Patterson-UTI the remaining 15% equity stake.
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PRU | Hot Stocks09:34 EDT PGIM, iJoin expand access to PGIM RetireWell Managed Accounts - PGIM and iJoin have announced that the PGIM RetireWell Managed Accounts, a highly personalized offering, will soon be available to the growing list of iJoin-enabled recordkeepers through its Managed Account Program marketplace. This integration leverages the power of the PGIM RetireWell Advice Engine in combination with iJoin's goals-based user experience, portfolio allocation technology, and a plan advisor's investment lineup to enable a more holistic retirement planning journey for plan participants.
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TPG | Hot Stocks09:33 EDT TPG makes minority investment in Creative Planning, terms not disclosed - Creative Planning announced that TPG has made a substantial minority investment in the Company. TPG is investing in the business through TPG Capital, its U.S. and European private equity platform. Terms of the transaction were not disclosed. TPG Capital joins existing investor General Atlantic, who made a minority investment in 2020, to provide additional resources and expertise to help Creative Planning continue to enhance its service offerings and growth trajectory. Creative Planning President and CEO, Peter Mallouk, will continue to lead the business and maintain a majority stake. Creative Planning is a fast-growing, leading independent wealth management firm that provides comprehensive financial planning-led wealth management solutions, delivering a best-in-class client experience. A trusted partner with a track record of client-led success, Creative Planning and its affiliates currently have more than $375 billion in combined assets under management and advisement across all 50 states and 90 countries.
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SPRC | Hot Stocks09:30 EDT SciSparc secures FDA approval to launch Phase IIB trial for TS treatment - SciSparc announced that the U.S. Food and Drug Administration has confirmed that its investigational new drug application for its first in class drug candidate SCI-110 study may proceed with its Phase IIb clinical trials in the U.S. in adults patients with Tourette Syndrome. This previously announced FDA approval is one of the most important milestones of SciSparc to date. The phase IIb clinical trial will be conducted at three global leading centers of excellence: the Yale Child Study Center at the Yale School of Medicine in Connecticut, United States, the Hannover Medical School in Hannover, Germany, and at the Tel Aviv Sourasky Medical Center in Israel. The Company has already secured the Institutional Review Board approvals from all three clinical sites, as well as approval from all related federal administrations. The objective of this clinical trial is to evaluate the efficacy, safety and tolerability of SciSparc's proprietary drug candidate SCI-110 in adult patients using a daily oral treatment. The patients will be randomized at a 1:1 ratio to receive either SCI-110 or a SCI-110-matched placebo. The primary efficacy objective of the trial will be to assess tic severity change using the Yale Global Tic Severity Scale, the most commonly used measure in clinical trials of this kind, as a continuous endpoint at weeks 12 and 26 of the double-blind phase compared to baseline. The primary safety objective of the trial is to assess absolute and relative frequencies of serious adverse events for the entire population and, separately, for the SCI-110 and placebo groups.
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HIW | Hot Stocks09:28 EDT Highwoods Properties reports no 'notable' damage from Hurricane Helene - Highwoods Properties reports after having conducted a thorough assessment of its Florida, Georgia, North Carolina and Tennessee properties that its buildings have not sustained any notable damage. Ted Klinck, President and CEO stated, "We are fortunate all members of the Highwoods family are safe. Our team did terrific work preparing for the hurricane and we are thankful to have fared so well. Our thoughts and prayers are with all those who have been hit hard by this storm and need support from our greater community."
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AXDX | Hot Stocks09:27 EDT Accelerate Diagnostics announces FDA clearance of Accelerate Arc system - Accelerate Diagnostics announced that the U.S. Food and Drug Administration, FDA, has granted 510(k) clearance of the Accelerate Arc system and BC kit, an innovative, automated positive blood culture sample preparation platform, for use with Bruker's MALDI Biotyper CA System, MBT-CA System, and MBT-CA Sepsityper software extension. "The FDA Clearance of the Accelerate Arc system marks the beginning of an exciting journey in our broader innovation roadmap. Together with the Accelerate WAVE system we are positioned to empower laboratories to deliver faster, more actionable results to clinicians, ultimately enhancing patient care and outcomes." said Jack Phillips, President and CEO of Accelerate Diagnostics.
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CYTK | Hot Stocks09:26 EDT Cytokinetics presents additional data from SEQUOIA-HCM trial - Cytokinetics announced that additional analyses synthesizing data from SEQUOIA-HCM, the pivotal Phase 3 clinical trial of aficamten in patients with symptomatic obstructive hypertrophic cardiomyopathy, were presented virtually at the Heart Failure Society of America Annual Scientific Meeting by Martin Maron, M.D., Director of the Hypertrophic Cardiomyopathy Center at the Lahey Hospital and Medical Center. The presentation was simultaneously published in the Journal of the American College of Cardiology. In these responder analyses of data from SEQUOIA-HCM, key integrated clinical assessments, commonly relied upon by practicing cardiologists to inform treatment choice and response, were analyzed following 24 weeks of treatment with aficamten or placebo in the study population: complete hemodynamic response, relief of symptoms, enhanced exercise capacity, and cardiac biomarker response. Comparing patients treated with aficamten to placebo, 68% vs 7% demonstrated a complete hemodynamic response, 71% vs 42% experienced relief of limiting symptoms, 46.5% vs 24% showed enhanced exercise capacity and 84% vs 8% demonstrated a substantial response in cardiac biomarkers. Overall, 97% of patients treated with aficamten achieved one or more clinically relevant outcomes, 62% achieved at least three outcomes and 23% achieved all four outcomes. For each of the four outcomes assessed in these analyses, the number needed to treat was fewer than 5 patients. In a responder analysis of functional capacity, 42% of patients on aficamten and 14% of patients on placebo were responders, for a difference vs. placebo of 29% and an NNT of 3. Additionally, among patients treated with aficamten who were eligible for septal reduction therapy at baseline, 88% were no longer eligible at 24 weeks.
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CCL | Hot Stocks09:25 EDT Carnival sees FY24 net yields up 10.4% vs last year - For the full year 2024, the company expects: Net yields up approximately 10.4 percent compared to 2023, better than June guidance, based on continued strength in demand; Adjusted cruise costs excluding fuel per ALBD up approximately 3.5 percent compared to 2023, approximately 1 percentage point better than June guidance driven by cost saving opportunities, accelerated easing of inflationary pressures and benefits from one-time items; Adjusted EBITDA of approximately $6.0 billion, up over 40 percent compared to 2023 and better than June guidance by nearly $200 million; Adjusted return on invested capital of approximately 10.5 percent, an improvement of approximately 5.0 percentage points compared to 2023 and half a point better than June guidance
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WYY | Hot Stocks09:19 EDT WidePoint awarded federal contract for MobileAnchor Derived Digital Credentials - WidePoint has been awarded a new one-year agreement for MobileAnchor Derived Digital Credentials for a Federal Civilian Agency. WidePoint will provide identity and access management services and support through its recently developed proprietary MobileAnchor Derived Digital Credential.
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ONDS | Hot Stocks09:18 EDT Ondas' Airbotics secures $5.4M purchase order from defense customer - Ondas Holdings announced that its wholly-owned subsidiary, Airobotics, has received a $5.4 million order for the delivery of multiple Optimus Systems from a major defense customer intended for critical asset protection and border security. The Optimus System has been extensively utilized by various governmental and commercial customers worldwide, carrying out thousands of operational drone flights without human intervention under challenging environmental conditions and in densely populated areas.
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BLMZ | Hot Stocks09:17 EDT BloomZ participates in audio production of 'The Legend of Heroes' - BloomZ participated in the audio production of "The Legend of Heroes: Kai no Kiseki -Farewell, O Zemuria-," a science fantasy role-play videogame. Developed by Nihon Falcom Corporation, The Legend of Heroes: Kai no Kiseki -Farewell, O Zemuria- is a part of a broader series that is now available for online purchase across Asia, The Legend of Heroes franchise. BloomZ was engaged by Nihon Falcom Corporation as the preferred vendor for audio production, given the Company's ability to develop high-quality audio engineering. The Company is expecting significant growth in the global gaming industry and believes such growth will foster the demand for premium graphics and audio production, resulting in greater demand for BloomZ's services.
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WS | Hot Stocks09:17 EDT Worthington Steel implements dividend reinvestment plan - Worthington Steel announced that it has implemented a Dividend Reinvestment Plan, or DRIP, which went into effect September 13. Participation in the DRIP is optional and will not affect shareholders' cash dividends, unless they elect to participate in the DRIP. The DRIP will provide Worthington Steel's eligible shareholders with the opportunity to have all or a portion of the cash dividends declared on their Worthington Steel common shares automatically reinvested into additional common shares on an ongoing basis until DRIP participation has been modified or terminated. The benefits of enrolling in the DRIP include the: convenience of automatic reinvestment of dividends in reinvestment shares and flexibility to enroll some or all common shares in the DRIP, providing the opportunity to reinvest all or a portion of dividends in reinvestment shares, while continuing to receive the remainder in cash. Participants in the DRIP will receive Reinvestment Shares acquired through the open market. Only future dividends declared by Worthington Steel will be eligible for reinvestment in the DRIP.
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PRSO | Hot Stocks09:16 EDT Peraso announces purchase order for DUNE Platform from Kenyan WISP - Peraso announced the receipt of a purchase order for its DUNE platform from a wireless Internet service provider in Kenya. This order marks a step forward in the deployment of 60GHz technology in Africa.
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MOS | Hot Stocks09:15 EDT Mosaic announces impact from Hurricane Helene to North American Phosphates - The Mosaic Company provided an update on the impact of Hurricane Helene to North American Phosphates operations. The Tampa port, which was closed ahead of the hurricane, was reopened Sunday. Early assessments show limited damage sustained across the facilities. The Riverview facility is currently offline, as it experienced water intrusion caused by the storm surge, and is expected to return to full production capacity in about 10 days as site cleanup and water mitigation are completed. As the recovery continues, Mosaic is pleased to announce all employees are safe and accounted for at this time, and has contributed $300,000 to organizations that are assisting our Florida operating communities with impacts. Mosaic has several programs in place for its affected team members, including an Employee-to-Employee Assistance Fund. This fund will be dispersed to employees who need financial assistance with hurricane recovery efforts in Florida.
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IBG | Hot Stocks09:15 EDT Innovation Beverage Group appoints Genevieve Jodhan as CSO - Innovation Beverage Group announced the appointment of Genevieve Jodhan as Chief Sales Officer. Genevieve joined Angostura Holdings Limited, the brand owner of cocktail bitters brand, Angostura Bitters, in 2007. During her 11+ years at Angostura, she moved through five executive appointments, from Supply Chain Operations to Export Business Development, International Sales, and Marketing and, in 2017, she became the company's first female Chief Executive Officer.
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IRT | Hot Stocks09:14 EDT Independence Realty Trust reports apartments did not incur damage from Helene - Independence Realty Trust announced the company's apartment communities did not incur any significant damage as a result of Hurricane Helene. "We are grateful to report that all of our residents and employees in the areas that were impacted by Hurricane Helene are safe, and that our properties have not sustained any significant damage," said Scott Schaeffer, Chairman and CEO of IRT. "Our highest priority is the safety of our residents and employees, and we thank our on-site teams for their support in preparing for and responding to the storm. We will keep our stakeholders updated if there is a change in the status of our communities as we assess any residual impact from the hurricane."
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JRSH | Hot Stocks09:13 EDT Jerash Holdings announces results of 2024 Annual Meeting - Jerash Holdings announced the results of its annual meeting of stockholders, conducted on September 27, 2024: All five nominated directors submitted for stockholder approval were re-elected, including: Choi Lin Hung; Wei Yang; Ibrahim H. Saif; Bill Korn; and Mak Chi Yan. The directors will serve a one-year term until the 2025 annual meeting of stockholders. The Company's stockholders approved, on an advisory basis, the compensation paid to the Company's named executive officers. The Company's stockholders approved, on an advisory basis, one year as the preferred frequency of the stockholders' approval of the compensation of the Company's named executive officers. In light of the voting results, the Company will include a stockholder vote on the compensation of its named executive officers in its proxy materials annually until the next required advisory vote on the frequency of stockholder advisory votes on the compensation of the Company's named executive officers.
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IOT | Hot Stocks09:12 EDT Samsara and Esri in deal to transform public sector fleet operations, no terms - Samsara announced a new integration with Esri to enhance fleet management and real-time reporting for government agencies. This turnkey integration allows customers to leverage telematics data from Samsara, including location, utilization, and maintenance, within Esri's ArcGIS Velocity a software-as-a-service IoT application for processing, visualizing, and analyzing real-time data. With these consolidated insights, public sector organizations can elevate citizen services, drive operational efficiency, and keep their communities safer. Public sector fleets often struggle with siloed systems and manual reporting processes that are cumbersome and time-consuming. This can cause data quality issues across departments and hinder their ability to make accurate, timely decisions. Integrating telematics insights from Samsara with Esri's ArcGIS Velocity gives these organizations a more complete view of their fleet operations to eliminate data silos, gain real-time visibility, and increase efficiency.
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SYNX | Hot Stocks09:12 EDT Silynxcom announces $740,000 in orders from Israel Defense Forces - Silynxcom has received additional orders from the Israel Defense Forces in the amount of $740,000, adding to the $815,000 worth of orders secured since the beginning of July 2024. This brings the total accumulated orders from the IDF to approximately $1,550,000 since the beginning of July 2024. This latest order signals Silynxcom's growth in the military tactical communication equipment market.
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HEPS | Hot Stocks09:11 EDT Hepsiburada announces second issuance of asset-backed securities - D-MARKET Electronic Services & Trading d/b/a Hepsiburada announced the second issuance of asset-backed securities amounting to TRY 350 million. The second issuance of asset-backed securities amounting to TRY 350 million, within the scope of the TRY 2 billion limit given by the Capital Markets Board to Pasha Yatrm Bank Hepsiburada Varlk Finansman Fonu, settled on September 27, 2024. In this structure, Hepsiburada participated as the originating entity with respect to its BNPL receivables. The issue consists of six tranches with an average maturity of 84 days and at an annual average interest rate of 51.00%. Hepsiburada intends to use the funds raised through this issue to sustainably grow its BNPL business and reduce its impact on working capital.
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LPLA | Hot Stocks09:11 EDT LPL Financial appoints Cheri Belski as head, investment management solutions - LPL Financial announced that Cheri Belski has joined the firm as executive vice president and head of investment management solutions. Belski will be responsible for leading key investment efforts, including LPL Research, Investment Products and Advisory Platforms, as well as LPL's Retirement Partners business. Belski brings more than 25 years of experience to LPL, most recently having served as global head of product at T. Rowe Price, where she was responsible for setting the vision for the firm's product development and their strategy in the private markets. At LPL she will be instrumental in driving strategic objectives and empowering the firm's 23,000+ advisors and approximately 1,000 institutions to deliver exceptional advice and run thriving businesses through product differentiation and optionality.
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TBNK HOPE | Hot Stocks09:10 EDT Territorial Bancorp reaffirms commitment to Hope Bancorp merger - Territorial Bancorp (TBNK) again reaffirmed the commitment of its Board of Directors to the proposed merger with Hope Bancorp (HOPE) that was announced on April 29, 2024. The announcement was made in response to additional information provided to Territorial from, and further information released by, Blue Hill Advisors on September 26, 2024 regarding the Hope merger and the proposal by unidentified investors and Blue Hill. "While the latest Blue Hill Group information indicates an increase in their offer by 4%, the proposal continues to leave so many unanswered questions, such that the Blue Hill proposal remains highly uncertain and inferior to the Hope merger," said Allan S. Kitagawa, Chairman, CEO and President of Territorial. "The Territorial Board already carefully considered the proposal on two separate occasions, and each time rejected the proposal for a number of reasons. The Territorial Board has now considered the latest information and, for a third time, has rejected what remains a highly speculative proposal. We again urge shareholders to vote "yes" in favor of the proposed merger with Hope Bancorp." Territorial continues to note that the proposed merger with Hope is expected to benefit Territorial's shareholders, customers, employees and the communities in which Territorial operates.
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ARDT | Hot Stocks09:09 EDT Ardent Health added to Russell 2000 and 3000 Indexes - Ardent Health has been added as a member of the broad-market Russell 3000 Index and Russell 2000 effective Monday, September 23 as part of the quarterly U.S. Russell Index Initial Public Offering IPO update. "We are pleased to join the Russell 3000 Index and look forward to building awareness around the Ardent growth story while increasing our exposure to new investor audiences," said Ardent President and Chief Executive Officer Marty Bonick. "Ardent Health's inclusion is an important milestone and underscores our strategic focus on delivering sustainable growth and value as we build a consumer-focused ecosystem of care in the communities we serve."
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PL | Hot Stocks09:08 EDT Planet Labs announces contract renewal with Federal Police of Brazil - Planet Labs announced a 12-month contract renewal with the Federal Police of Brazil for its global daily monitoring over threatened rainforests. The contract has a seven-figure value and was formalized through Planet's partner SCCON Geospatial.
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SSNC | Hot Stocks09:08 EDT SS&C completes acquisition of Battea-Class Action Services - SS&C Technologies announced it has completed its acquisition of Battea-Class Action Services, a market-leading provider of securities class action claims and settlement recovery services. The purchase price is approximately $670 million, subject to certain adjustments. "We are pleased to welcome Battea's employees, customers and partners," said Bill Stone, SS&C's Founder and CEO. "We see natural synergies between Battea and SS&C. Battea helps over 900 banks, asset managers, hedge funds and proprietary trading firms receive the maximum distribution of entitled settlements. We look forward to working together to bring these sophisticated new capabilities to clients."
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FAT | Hot Stocks09:07 EDT Pretzelmaker rolls out 'Bucket of Bites' menu item - Pretzelmaker is crossing an item off its menu bucket list. Starting Sept. 30 at participating locations, the chain is rolling out the ultimate shareable item-Bucket of Bites. Available in sweet and savory flavors, the all-new Bucket of Bites, 85 ounces in size, features mounds of Pretzel Bites served with six different sauces of the fans' choice, including customer-favorites such as Cheddar Cheese, Pizza Sauce, Honey Mustard and Cream Cheese.
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RTX | Hot Stocks09:07 EDT RTX receives U.S. Navy contract for ESSM Block 2 missiles - Raytheon, an RTX business, has received a $525 million contract from the U.S. Navy to produce ESSM Block 2 missiles and spares for the U.S. and allied nations. ESSM Block 2 is a short to medium-range, ship-launched, dual-mode, guided missile that has increased maneuverability and improved performance over its Block 1 predecessor. "The role of self-ship and local area defense has become increasingly important, and ESSM Block 2 delivers critical capability in this mission," said Barbara Borgonovi, president of Naval Power at Raytheon. "By partnering with the U.S. Navy and allied navies, we're ensuring this versatile system is ready to support our fleets around the world."
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SLRC | Hot Stocks09:06 EDT SLR Investment acquires asset-based factoring business from Webster - SLR Investment announced that on September 27, its wholly-owned portfolio company, SLR Business Credit acquired an asset-based factoring portfolio and operations from Webster Bank, N.A.'s Commercial Services Division in an asset purchase that includes a team of professionals and a seasoned portfolio. The factoring business specializes in providing financing solutions to middle-market companies. SLR-BC is a commercial finance company that specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of $100,000 up to $100 million. The approximately $115 million portfolio acquired from Webster is diversified with loans to long-standing customers. This acquisition increases SLR-BC's exposure to first lien senior secured collateralized assets. The addition of the asset-based factoring business, along with its team, further enhances SLRC's diversified specialty finance platform. The Company has a proven history of underwriting and integrating strong lending platforms that are seeking long-term, stable capital and synergies with a new strategic partner.
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METC | Hot Stocks09:06 EDT Ramaco Resources appoints Sundaresan as SVP of Technology - Ramaco Resources announced it has hired Dr. Vishnu Sundaresan as senior vice president, SVP, of Technology to help lead the company's expanding rare earth element and carbon products activities. In his role, Dr. Sundaresan will chart Ramaco's technology strategy and oversee the development and implementation of innovative technology solutions to support the company's REE and coal to advanced carbon products growth.
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JKHY | Hot Stocks09:05 EDT Jack Henry, Victor offer embedded payments platform - Jack Henry announces the expansion of its collaboration with Victor Technologies, a subsidiary of MVB Edge Ventures, Inc. and part of MVB Bank, Inc. The companies launched an embedded-payments management platform to help Jack Henry's financial institution clients capitalize on Payments-as-a-Service market opportunities.
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CTRM | Hot Stocks09:04 EDT Castor Maritime acquires Kamsarmax bulk carrier vessel for $29.95M - Castor Maritime has entered, through a separate wholly-owned subsidiary, into an agreement with an unaffiliated third-party to acquire a 2020-built Kamsarmax bulk carrier vessel for a purchase price of $29.95 million. The Company expects to finance the acquisition with cash on hand. The acquisition is expected to be concluded by taking delivery of the vessel during October 2024 and is subject to the satisfaction of certain customary closing conditions.
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SONN | Hot Stocks09:03 EDT Sonnet BioTherapeutics announces launch of CEO Corner platform - Sonnet BioTherapeutics announced the launch of its CEO Corner platform featuring Pankaj Mohan, Founder and Chief Executive Officer of Sonnet. The CEO Corner platform is intended to provide additional in-depth perspective to press releases, events, corporate updates and development pipeline progress. The first segment of the CEO Corner is now accessible on the Company's website.
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MNOV | Hot Stocks09:03 EDT MediciNova to support NIH-funded EAP trial to evaluate MN166 in ALS - MediciNova announced that the National Institutes of Health - Neurological Disorders and Stroke has awarded $22 million for an intermediate size Expanded Access Protocol to evaluate the efficacy of MN-166 in Amyotrophic Lateral Sclerosis. In collaboration with an academic group, MediciNova will provide investigational drug MN-166, regulatory support, and safety monitoring support. The NIH grant is supported by the Accelerating Access to Critical Therapies for ALS Act signed into law by President Biden. Expanded Access, also referred to as Compassionate Use, is an FDA-regulated pathway that allows individuals with a serious and life-threatening disease to access an investigational drug that is not yet approved by the FDA. This EAP trial will allow individuals with ALS who are not eligible to participate in the COMBAT-ALS trial to receive treatment with MN-166. The EAP will evaluate neurofilament light, a biomarker for neuron damage, and clinical data in two hundred ALS patients treated with MN-166.
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FEAM | Hot Stocks09:01 EDT 5E Advanced Metals receives LOI for up to $285M in debt financing - 5E Advanced Materials received a non-binding Letter of Interest from the Export-Import Bank of the United States. The LOI outlines the potential for the creation of a debt facility to backstop project debt financing of up to $285 million, which would be utilized for commercial scale development and construction of 5E's Boron Americas Complex. The potential debt funding package would carry a repayment tenor of up to 15 years under EXIM's Make More in America Initiative. 5E's Boron Americas Complex is designated as Critical Infrastructure by the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency. 5E expects to submit a formal application to EXIM in 2025, at which point we expect EXIM will begin the necessary due diligence to determine if a final commitment may be issued. A final commitment, if any, must comply with EXIM policies and eligibility requirements, and will depend on meeting EXIM's underwriting criteria, authorization process, finalization and satisfaction of terms and conditions. The LOI does not represent a funding commitment nor an indication of financing or project viability.
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VEEE | Hot Stocks09:00 EDT Twin Vee PowerCats to launch redesign of BayCat boat - Twin Vee PowerCats announced plans to launch a redesigned 22-foot BayCat boat, adding it to the Company's expanding product line. Set to debut in early 2025, Twin Vee's best-selling bay boat is back. The 220 BayCat has been reimagined to provide the best ride in a compact, towable package. Offering the stability and smooth handling that Twin Vees are known for, the 220 BayCat is designed to be ideal for any water adventure.
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KZR | Hot Stocks09:00 EDT Kezar Life Sciences trading resumes
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XSHLF | Hot Stocks08:58 EDT XS Financial taken private by Mavik Capital, Axar Capital - XS FINANCIAL announced the closing of its agreement to be taken private by Mavik Capital Management and Axar Capital Management. The Transaction establishes XS as a private company and positions it to expand its platform in the growing equipment financing space. With the deep lending expertise and collective resources of both Mavik and Axar, XS will be able to further scale and diversify its offerings to provide flexible financing solutions that meet the evolving needs of middle-market U.S. businesses across a variety of industries. XS previously announced that it had entered into a definitive agreement to be taken private on June 24, 2024, and the Transaction was approved by XS securityholders at the Company's general and special meeting held on September 9, 2024. Under the terms of the Transaction, Mavik and Axar acquired all of the issued and outstanding subordinate voting shares and proportionate voting shares of XS for a cash purchase price of Cdn$0.05265 per SV Share and Cdn$52.65 per PV Share. All stock options and share purchase warrants outstanding immediately prior to the effective time of the Transaction were automatically cancelled without any payment to the holders. The Transaction was effected by way of a court-approved plan of arrangement under Section 288 of the Business Corporations Act. As a result of the closing of the Transaction, XS's subordinate voting shares will be delisted from the Canadian Securities Exchange and the OTCQB.
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NICH | Hot Stocks08:56 EDT Nitches, Inc. to launch science-based bioceutical product line - Nitches announced the forthcoming launch of its science-based bioceutical product line. After extensive research and collaboration with scientists, doctors, and FDA-approved manufacturing facilities, Nitches is poised to unveil a suite of revolutionary products designed to enhance human performance and well-being. Scheduled for release in October 2024, this line will introduce three bioceutical products, each developed with the highest standards of scientific rigor and innovation. The company's proprietary formulations have been crafted in collaboration with leading experts and manufactured in FDA-registered and routinely audited facilities in the United States. Adhering to the most stringent standards, including FDA 21 CFR 111 - Current Good Manufacturing Practices, and certifications such as NSF and ISO-90001, Nitches ensures unparalleled quality and safety in every product. The upcoming product line is aimed at supporting a wide range of health and wellness needs, catering to both teenagers and adults. Nitches is currently in the final stages of discovery and formulation and is preparing to reveal detailed information about the product line, including ingredients, benefits, and usage, in the coming weeks. The official launch event will take place in October, where the company will provide a comprehensive overview of the new products and their potential to revolutionize the nutraceutical industry.
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TOON | Hot Stocks08:54 EDT Kartoon Studios provides business update on Mainframe Studios - Kartoon Studios provided a business update for its affiliated animation production arm and largest revenue unit, Mainframe Studios. The Company is reporting that Mainframe Studios is moving toward continued growth amid a strong business rebound following the settlement of the WGA and SAG strikes. The studio has secured series orders for over 145 episodes, strengthening a continuing pipeline through 2025 and 2026. It presently has four series in production with industry giants, including Spin Master, Sony Kids, and Disney. "Over the past year, Mainframe Studios has experienced a significant increase in deal flow, signaling a strong business recovery, following the resolution of the Writers Guild of America and Screen Actors Guild disputes in late Q3 and early Q4 of 2023," said Brian Parisi, CFO of Kartoon Studios. "In the second quarter of 2024, Mainframe Studios' production demand rebounded following the resolution of labor disputes. We have built a highly scalable infrastructure and continue to enhance operational efficiency." Mainframe Studios has four series currently in production for streaming services and leading broadcasters. They include the hit series Unicorn Academy for Spin Master, which premiered on Netflix, and the hit series SuperKitties for Sony Kids and Disney+. Mainframe Studios is also producing an unannounced 80 x 11-minute episodes of a 2D animated series. In addition, Mainframe Studios recently announced that it is co-producing the animated kids series Andrew the Big BIG Unicorn with Pirate Size Productions and Infinite Studios. The ABC, CBC, and SRC are the commissioning broadcasters, and Kartoon Studios will retain international distribution, licensing, and merchandising.
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GRI | Hot Stocks08:50 EDT GRI Bio granted Japanese patent for NKR cell modulaters - GRI Bio has received a "Decision to Grant" notice from the Japan Patent Office for the patent application No. 2023-000750 titled, "Prevention and Treatment of Inflammatory Conditions." The granted patent covers claims including compositions and methods for modulating type 2 and/or type 1 invariant NKT cells in the prevention and treatment of inflammatory conditions. More specifically, the patent covers the prevention and treatment of inflammatory, fibrotic and autoimmune conditions through the administration of a Retinoic Acid Receptor agonist that inhibits iNKT cells in a subject. GRI Bio is currently advancing its lead program GRI-0621, a small molecule RAR-beta dual agonist candidate that inhibits the activity of human iNKT cells, in a Phase 2a, randomized, double-blind, multi-center, placebo-controlled, parallel-design, 2-arm study for the treatment of IPF. IPF is a rare chronic progressive pulmonary disease with abnormal scarring of the lung blocking the movement of oxygen into the bloodstream. Interim data is expected in Q4 2024 and topline data in Q1 2025.
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FMST | Hot Stocks08:49 EDT Foremost Lithium announces data for Annual General, Special Meeting - Foremost Clean Energy announced that, further to its announcement of July 30, 2024 with respect to the proposed spin-out of the Winston Group of Gold and Silver Properties pursuant to a statutory plan of arrangement under the Business Corporations Act, it has scheduled its Annual General and Special Meeting of shareholders for December 09, 2024 at 11:00 a.m. Foremost shareholders will vote on the Arrangement, among other things, at the Meeting. Full details are provided below under "Further Details of AGSM". Pursuant to the Arrangement, the Properties will be transferred to a newly incorporated company, named Rio Grande Resources and Foremost Shareholders will exchange each outstanding common share of Foremost for one new Foremost common share and two common shares of Rio Grande. The Arrangement, if completed, will result in Foremost retaining an approximate 19.95% interest in Rio Grande. In connection with the Arrangement, the Company has filed an updated independent technical report for the Properties prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects titled "Technical Report for the Winston Gold-Silver Project: Sierra County, New Mexico, USA". The Properties consist of one-hundred-forty-seven unpatented lode mining claims and two patented mining claims in Sierra County and Catron County, New Mexico. The Properties cover 1,229 hectares in the Black Range/Chloride Mining District of central New Mexico and are comprised of three historic past producing gold and silver mines: Ivanhoe, Emporia and Little Granite. Exceptional results from property-wide confirmatory sampling completed in 2021 included many high-grade samples including 41.5 g/t Gold and 4,610 g/t Silver on newly staked claims. Additional samples from these three mines returned peak values of 66.5 g/t gold and 2,940 g/t silver from Little Granite, 26.8 g/t gold and 1,670 g/t silver from Ivanhoe, and 46.1 g/t gold and 517 g/t silver from Emporia. An application has been submitted to the CSE to list Rio Grande Shares upon completion of the Arrangement. It is a condition of the completion of the Arrangement that the CSE, and if required, the NASDAQ, will have conditionally approved the Arrangement, including the listing of the new Foremost common shares and the Rio Grande Shares. In connection with the Arrangement, Rio Grande is expected to complete a private placement of subscription receipts for approximate aggregate gross proceeds of $1,750,000, with each subscription receipt automatically converting upon the satisfaction or waiver of conditions precedent to the Arrangement and the listing of the Rio Grande Shares on the CSE into Rio Grande Shares. The gross proceeds of the Private Placement will be held in escrow pending the satisfaction of the release conditions.
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ASND | Hot Stocks08:47 EDT Ascendis Pharma shares three-year results from Phase 2 PaTH Forward trial - Ascendis Pharmashared 3-year results from the Company's ongoing Phase 2 PaTH Forward Trial of 57 adults with hypoparathyroidism showing that long-term treatment with TransCon PTH through Week 162 drove bone remodeling into the normal range. Deficiency of parathyroid hormone is associated with low rates of bone remodeling, accumulation of overly mature bone, and higher-than-average bone mineral density that may correspond with poorer overall bone quality compared to that seen in the general population. In contrast, these results suggest that long-term palopegteriparatide treatment promotes attainment of skeletal health parameters in line with those expected with states of parathyroid sufficiency. TransCon PTH is a prodrug of parathyroid hormone, administered once daily, designed to provide continuous exposure to released PTH over the 24-hour dosing period. Lead author Mishaela Rubin, M.D., Associate Professor of Medicine at Columbia University and an expert at the forefront of characterizing the dynamic and structural abnormalities of bone in hypoparathyroidism, shared the results in an oral presentation during ASBMR 2024, the annual meeting of the American Society for Bone & Mineral Research held in Toronto September 27-30.
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ASND | Hot Stocks08:46 EDT Ascendis Pharma submits sBLA to FDA for TransCon hGH - Ascendis Pharma has submitted a supplemental Biologics License Application to the U.S. Food & Drug Administration for TransCon hGH in the U.S. for pediatric growth hormone deficiency) for the treatment of adults with growth hormone deficiency. The submission is based on results from foresiGHt, a Phase 3 randomized, parallel-arm, placebo-controlled and active-controlled trial that compared the efficacy and safety of weekly TransCon hGH with weekly placebo and daily hGH in adults with GHD. The trial evaluated 259 adults with GHD aged 23 to 80 years old, randomized 1:1:1, titrated to receive a target fixed dose of TransCon hGH, placebo, or daily hGH based on age and oral estrogen intake with approximately equivalent hGH mg/week for TransCon hGH and daily hGH. TransCon hGH demonstrated superiority on its primary efficacy and key secondary efficacy endpoints at Week 38, with TransCon hGH-treated patients showing a statistically significant reduction from baseline in trunk fat and increase in total body lean mass at Week 38 compared to placebo. TransCon hGH was generally safe and well tolerated, with no discontinuations related to study drug and with comparable safety and tolerability to daily hGH.
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RELI | Hot Stocks08:44 EDT Reliance Global launches beta version of Quote & Bind InsurTech solution - Reliance Global Group announced the official launch of the beta version of its highly anticipated AI-powered Quote & Bind InsurTech solution for commercial policies. Initially scheduled for release in Q4 2024, the new solution has been launched ahead of schedule, giving RELI Exchange agency partners immediate access to this cutting-edge technology. The solution, now live on the RELI Exchange platform, enables agents to generate real-time quotes and bind commercial insurance policies instantly from their dashboard. This advanced system covers a wide range of commercial insurance lines, including workers' compensation, general liability, cyber liability, business owner's policies, and executive coverages such as directors & officers insurance and employment practices liability insurance. With the solution now in beta, RELI Exchange is already gathering valuable feedback from its users to refine and enhance the platform. The Company expects this AI-driven feature to contribute significantly to premium volume growth and anticipates millions of dollars in new premiums being added to its books in the coming year.
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SHOT | Hot Stocks08:43 EDT Safety Shot to be available at 7-Eleven stores in Chicago - Safety Shot announced that 4 oz. bottles of Safety Shot will soon be sold at 7-Eleven convenience stores in the Chicago area. Working in a partnership with the President and board members of the Francise Owners Association Chicago, Safety Shot will launch its convenient on-the-go 4 oz. bottles at 315 7-Eleven stores in the Chicago area. The product will have a counter-top placement and will be priced at $5.99 each and $10 for two.
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KAVL | Hot Stocks08:42 EDT Kaival, Delta Corp announce confidential submission of registration statement - Kaival Brands Innovations Group and Delta Corp Holding announced the confidential submission with the U.S. Securities and Exchange Commission of a draft registration statement on Form F-4 by Delta Corp Holdings Limited, a newly created holding company organized under the laws of the Cayman Islands. As previously announced on September 23, 2024, Kaival entered into a Merger and Share Exchange Agreement with Delta, Pubco, KAVL Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Pubco and the shareholders of Delta, whereby Kaival and Delta will become wholly owned subsidiaries of Pubco, and Pubco will become a new publicly listed holding company. The closing of the transactions contemplated by the Merger Agreement is subject to certain conditions, including, without limitation, the approval of Kaival's stockholders and The Nasdaq Stock Market LLC's approval of the listing of the ordinary shares of Pubco on the Nasdaq Capital Market.
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ACMR | Hot Stocks08:41 EDT ACM Research's operating subsidiary provides backlog data - As of September 30, 2024 and September 27, 2023, ACM Shanghai's total backlog amounted to RMB 6,764.6 million, and RMB 6,795.8 million respectively. The total backlog figures include a mix of orders for tools that have been shipped but not yet recognized as revenue under Chinese generally accepted accounting principles, and orders for tools expected to be shipped at a future date.
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MBOT | Hot Stocks08:40 EDT Microbot Medical accelerates patient enrollment of human trial for LIBERTY - Microbot Medical announced that it is currently experiencing an acceleration of patient enrollment for ACCESS-PVI human clinical trial for LIBERTY. As a result of the increased rate of patient enrollment, 80% of the patients have completed the follow up period, and the Company now anticipates completing the trial ahead of its prior expectation. The Company remains on track to file its 510(k) submission with the U.S. Food and Drug Administration by of the end of 2024. ACCESS-PVI is a prospective, multi-center, single-arm trial to evaluate the performance and safety of LIBERTY in human subjects undergoing Peripheral Vascular Interventions. The trial will support the 510(k) submission to the FDA and subsequent commercialization. The Company also announced that is has successfully completed all biocompatibility tests, as required by its Investigational Device Exemption application and received full approval for the IDE study from the FDA. The Company had previously disclosed that it had received approval from the FDA to commence its clinical trial, and in parallel complete biocompatibility testing. In parallel with the clinical trial, the Company is performing additional customary bench testing, and these final results will be included in the Company's 510(k) submission.
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SGE | Hot Stocks08:39 EDT Strong Global Entertainment, Fundamental Global complete combination - Fundamental Global has completed its combination with Strong Global Entertainment pursuant to a previously announced arrangement agreement. The combination received overwhelming support, with more than 99% of the shares cast at the Strong Global shareholders meeting on September 17, 2024 voting to approve the transaction. Shareholders of Strong Global Entertainment will receive 1.5 common shares of Fundamental Global for each common share they hold.
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VPG | Hot Stocks08:38 EDT Vishay Precision acquires Nokra, terms not disclosed - Vishay Precision Group announced it acquired Nokra Optische Prueftechnik & Automation, a Germany-based, privately held maker of precision measuring and testing equipment for manufacturing. The terms of the transaction were not disclosed. Nokra's laser-based measurement gauge systems are used to precisely measure the thickness, flatness, contour, width or 3D profile of various metals depending on the application, in both inline and offline production.
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KZR | Hot Stocks08:37 EDT Kezar Life Sciences suspends enrollment of PALIZADE trial - Kezar Life Sciences announced the voluntary cessation in enrollment of new patients and dosing of ongoing patients in the Phase 2b PALIZADE clinical trial, pending further evaluation. PALIZADE is a global, placebo-controlled, randomized, double-blind Phase 2b clinical trial evaluating the efficacy and safety of two dose levels of zetomipzomib in patients with active lupus nephritis, or LN. Patients in the trial are randomly assigned to receive 30 mg of zetomipzomib, 60 mg of zetomipzomib or placebo subcutaneously once weekly for 52 weeks, in addition to standard background therapy. To date, 84 patients have been enrolled in the PALIZADE trial, and patient safety data are reviewed by an Independent Data Monitoring Committee, or IDMC. Kezar has suspended enrollment and dosing in PALIZADE at the recommendation of the IDMC after their recent review of emerging safety data, including an assessment of four Grade 5 serious adverse events that have occurred during the course of the trial in patients enrolled in the Philippines and Argentina. Review of the data by the IDMC revealed that three of the fatalities showed a common pattern of symptoms and proximity to dosing, and additional non-fatal SAEs showed a similar proximity to dosing. Kezar remains blinded as to which patients were on the zetomipzomib or placebo treatment arms. Kezar has not observed any instances of death or serious opportunistic infections in prior clinical studies of zetomipzomib. Kezar's ongoing Phase 2a PORTOLA clinical trial of zetomipzomib in patients with autoimmune hepatitis has completed enrollment and remains active at this time. To date, no Grade 4 or 5 SAEs have been observed in the PORTOLA clinical trial. Kezar's decision to pause enrollment and dosing on PALIZADE enables time to evaluate the totality of data regarding the SAEs and determine next steps and potential risk mitigation strategies. The company has notified all study investigators and is notifying regulatory authorities, including the FDA and the European Medicines Agency, of its decision. At this time, a formal Investigational New Drug clinical hold has not been issued. If Kezar receives a clinical hold letter from the FDA, it will review the content and determine next steps.
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NBIX | Hot Stocks08:36 EDT Neurocrine announces interim results from ongoing KINECT-HD2 study - Neurocrine Biosciences announced interim results from the ongoing open-label KINECT-HD2 study of INGREZZA capsules for the long-term treatment of adults with chorea associated with Huntington's disease. Robust and sustained improvements in chorea associated with Huntington's disease were observed through Week 104 in patients, irrespective of concomitant antipsychotic therapy use. Data from this interim analysis of KINECT-HD2 suggest robust and sustained improvements in Huntington's disease chorea with INGREZZA treatment: INGREZZA improved HD chorea as early as Week 2 at the starting dose of 40 mg and at Week 4 with doses up to 60 mg. Efficacy was sustained from Week 8 to Week 104 at the maintenance dose of up to 80 mg. These improvements were consistent regardless of presence or absence of concomitant antipsychotic treatment. At Week 6 and at each visit thereafter, more than half of participants and investigators rated symptoms as "much improved" or "very much improved." At Week 104, this response status was achieved in 75.9% of participants based on self-report and 73.6% of participants based on clinician assessment. The most common treatment-emergent adverse events at the time of the analysis were consistent with those observed in KINECT-HD, including falls, somnolence and fatigue.
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WINT | Hot Stocks08:36 EDT Windtree Therapeutics announces Phase 2b topline results of istaroxime - Windtree Therapeutics announced topline clinical results for its Phase 2b SEISMiC Extension Study of istaroxime in heart failure patients in early cardiogenic shock. Early cardiogenic shock is caused by a failing heart and is characterized by low blood pressure, leaving the patient at risk of developing inadequate blood flow to vital organs leading to high morbidity and mortality. Istaroxime is a novel first-in-class investigational therapy that is intended to improve systolic contraction and diastolic relaxation of the heart while also increasing blood pressure and maintaining renal function with a generally favorable safety profile. Istaroxime has been studied in four positive Phase 2 trials enrolling patients with acute heart failure and early cardiogenic shock due to heart failure. The Phase 2b SEISMiC Part B Extension Study in early cardiogenic shock randomized 30 subjects and was conducted in the United States, Europe and Latin America. The study is focused on istaroxime's observed ability to correct low blood pressure and to improve cardiac function and other parameters over 96 hours of close monitoring with the final visit at 30 days. The results build upon the positive results reported previously in the Phase 2b SEISMiC Part A study. The Part B study included hospitalized patients with SCAI Stage B cardiogenic shock with persistent hypotension due to acute heart failure and evaluated two different dose regimens of istaroxime compared to placebo. Patients in the active treatment groups received infusions of istaroxime for up to 60 hours, with one group receiving a decreasing istaroxime dose over time and the second group receiving a constant istaroxime dose. The study tested an extended dosing duration of istaroxime compared to previous studies, where treatment was limited to 24 hours, to determine the potential for additional benefit and, along with dose titration, to determine the optimal dosing regimen for an anticipated late-stage Phase 3 clinical trial. For the primary endpoint evaluating blood pressure, subjects from Part A and Part B of SEISMiC were prospectively combined for analysis. In the analysis of Part B, all istaroxime-treated patients were compared to the placebo group. For certain endpoints in Part B, the dose-response between the two different istaroxime dose regimens was compared. The study met its primary endpoint in significantly improving systolic blood pressure over six hours, with the combined Part A and Part B SEISMiC istaroxime group performing significantly better compared to the placebo group. Despite the smaller number of patients in SEISMiC Part B, the SBP AUC was also significantly improved by istaroxime compared to placebo. The improvements in SBP AUC at 24 hours in the combined Part A and Part B analysis were also significantly increased by istaroxime. In Part B alone, the istaroxime group was significantly better compared to the placebo group. With the longer istaroxime dosing in Part B, the SBP AUC was significantly improved at 48 hours and 60 hours as well. SEISMiC Part B results: Cardiac output was improved during the infusion by approximately 15% in the istaroxime group over the course of treatment. Heart rate tended to decrease and there was no statistically significant increase in heart rate versus placebo in the istaroxime group. At 12 and 24 hours, patients in the istaroxime group experienced statistically significant reductions in heart rate. Increasing heart rate contributes to greater cardiac oxygen demand and workload, and therefore can lead to deleterious effects in heart failure patients. Pulmonary capillary wedge pressure is elevated in this patient population and also was elevated in our study subjects at baseline. Istaroxime treatment reduced PCWP significantly more than placebo within six hours and the effect persisted through 60 hours. PCWP is a measure of cardiac filling pressure and when high contributes to worsening heart failure and pulmonary edema. Mixed venous oxygen saturation, an assessment of organ perfusion, was significantly improved by 12 hours, and remained significant through 48 hours. The improvement versus placebo generally persisted through a 60-hour assessment. A low SVO2 can indicate that cardiac output is not high enough to meet the tissue oxygen needs. Renal function measured by estimated glomerular filtration rate was improved in this study in the istaroxime group compared to placebo at all time points reaching statistical significance at 48 hours. Clinical signs and symptoms of congestion and heart failure improved in both groups. The New York Heart Association classification of heart failure severity significantly decreased in the istaroxime group at 24 hours, 48 hours, and 72 hours and was similar to placebo at 96 hours. Worsening heart failure reported as a serious adverse event occurred less frequently in the istaroxime group compared to placebo 5.3% versus 18.2%, respectively. The istaroxime safety profile in Part B was favorable and generally consistent with what has been previously reported in other istaroxime clinical trials. Treatment-emergent adverse events were reported more frequently in the istaroxime group at 78.9% compared to 45.5% in the placebo group, predominantly due to nausea, vomiting, infusion site discomfort and headache that have been observed previously with istaroxime. Serious adverse events were infrequent and occurred at a similar frequency in both the istaroxime and placebo groups. Importantly, consistent with previous findings, istaroxime did not increase clinically significant arrythmias compared to the placebo group.
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SABR | Hot Stocks08:34 EDT Sabre releases 2024 Sustainability Report - Sabre announced the release of its 2024 Sustainability Report. The report highlights the company's progress and commitment to sustainability and introduces its new Travel Positive strategy - focused on People, Planet, and Prosperity.
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ANIX | Hot Stocks08:34 EDT Anixa Biosciences announces submission of protocol amendment for CAR-T trial - Anixa Biosciences announced that it and partner Moffitt Cancer Center have submitted an amendment to the current protocol that governs its ongoing clinical trial utilizing a CAR-T therapy to treat ovarian cancer. A key change in the protocol provides a second dose of the therapy to patients who might benefit from an additional dose. Previously, Anixa and Moffitt sought and received approval of a single patient IND application to enable a second dose for a single patient who, upon examination of tumor obtained from a biopsy, exhibited cellular infiltration and necrosis, indicating biologic activity of the CAR-T. This amendment will permit all potential patients to receive another leukapheresis and a second dose of CAR-T, without submitting individual INDs for each patient.
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SPTN | Hot Stocks08:33 EDT SpartanNash promotes Porter to VP, Associate General Counsel - SpartanNash announced the promotion of Kristen Porter to Vice President, VP, Associate General Counsel and Compliance Officer. Porter will oversee the Company's compliance efforts, including the Company's food safety team. Additionally, she will continue to manage the work of the licensing team.
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WKSP | Hot Stocks08:33 EDT Worksport provides progress update on ISO 9000 certification - Worksport is progressing towards achievement of ISO 9000 certification at its state-of-the-art West Seneca, NY factory anticipated by early-mid 2025. This certification reflects Worksport's commitment to quality manufacturing and is expected to support potential growth in key future markets including government contracts, Original Equipment Manufacturers relationships and larger distribution networks. OEM relationships may lead to future direct and indirect sales opportunities to domestic car brands.
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RMD | Hot Stocks08:32 EDT ResMed launches AirTouch N30i fabric mask - ResMed announced a ResMed first in CPAP mask innovation with the launch of the AirTouch N30i. Designed to create a natural and comfortable sleep experience for users, the AirTouch N30i is a fabric-wrapped frame featuring a soft, breathable, and moisture-wicking design for optimal comfort in a tube-up design.The AirTouch N30i will be available in the U.S. beginning the week of October 28, 2024.
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QUBT | Hot Stocks08:32 EDT Quantum Computing extends collaborative agreement with LANL - Quantum Computing announced the extension of its Cooperative Research and Development Agreement, CRADA, with the Los Alamos National Laboratory, LANL. This strategic collaborative agreement focuses on QCi's new entropy quantum optimization machine, Dirac-3, and its capabilities to quickly and efficiently solve highly complex problems associated with quantum simulations, social networks, protein structure prediction, and telecommunications.
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RMD | Hot Stocks08:31 EDT ResMed unveils collection of digital, personalized solutions for sleep health - ResMed announced new patient-centric products designed to enhance the therapy journey for sleep apnea patients. These innovations integrate with digital wearable devices and generative artificial intelligence designed to deliver a more personalized sleep health experience and improve overall health. ResMed myAir is an intuitive app that empowers patients to stay engaged with their CPAP therapy, leading to better health outcomes. Through interactive coaching and the ability to track nightly sleep data, myAir has been associated with significantly increased CPAP usage, with 87% of patients achieving therapy compliance. New myAir Patient Engagement Features Include: myAir smartwatch app: Now available on Apple and Android smartwatches, this app allows users to monitor their therapy data at a glance, making it easier to stay engaged with CPAP therapy. Sleep staging: Integrates sleep stages data from Apple Health and Health Connect into myAir, giving users a clearer understanding of their entire sleep cycle. Personalized coaching: Offers customized tips and strategies based on behavior science and machine learning to help users stay on track with CPAP therapy through personalized support. Holistic trends: Provides a comprehensive view of a user's health by providing data such as tracked steps, energy burned, weight, blood oxygen, body mass index, daily exercise, heart rate variability, resting heart rate, time in bed, and total time asleep, from Apple Health and Health Connect along with CPAP therapy data, all in one place. ResMed's new AI-enabled health concierge, Dawn, is changing how people learn about sleep apnea. Dawn provides instant, 24/7 access to many answers about sleep health, ResMed products, and CPAP therapy support. Using Generative AI, Dawn offers personalized guidance and connects users with the information they need in real time.
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OCUP | Hot Stocks08:29 EDT Ocuphire Pharma announces publication of Phase 3 results of RYZUMVI - Ocuphire Pharma announced the publication of full results from two pivotal Phase 3 clinical trials that evaluated the safety and efficacy of RYZUMVI for the treatment of pharmacologically-induced mydriasis in the peer-reviewed journal Ophthalmology. The results demonstrated that Phentolamine Ophthalmic Solution 0.75%, a non-selective alpha-1 and alpha-2 adrenergic antagonist, rapidly and effectively reversed pharmacologically-induced pupil dilation with a favorable safety profile. As previously reported by Ocuphire, in both trials a statistically significant greater percentage of subjects treated with Phentolamine Ophthalmic Solution 0.75% achieved reversal of pharmacologically-induced mydriasis at 90 minutes compared to those receiving placebo, which was the primary endpoint. In the MIRA-2 trial, 48.9% of subjects treated with Phentolamine Ophthalmic Solution 0.75% achieved reversal versus 6.6% in the placebo group. In the MIRA-3 trial, 58% of subjects treated with Phentolamine Ophthalmic Solution 0.75% achieved the primary endpoint versus 6% in the placebo group. Effects were observed as early as 60 minutes following administration, with significant improvements in pupil diameter at that timepoint and at every timepoint measured up to 24 hours following administration in both trials. More subjects receiving Phentolamine Ophthalmic Solution 0.75% reported a perceived benefit in the resolution of visual symptoms caused by pharmacologically-induced mydriasis compared to placebo, with statistically significant differences noted as early as one hour following administration. Fewer subjects treated with Phentolamine Ophthalmic Solution 0.75% had residual dilation at 24 hours post-dilation, compared to placebo-treated subjects. Phentolamine Ophthalmic Solution 0.75% exhibited a favorable safety profile, with the most common treatment-emergent adverse events being mild and transient, including conjunctival hyperemia, instillation site discomfort and dysgeusia. Phentolamine Ophthalmic Solution 0.75% is approved and marketed as RYZUMVI for the treatment of pharmacologically-induced mydriasis produced by adrenergic agonists or parasympatholytic agents by Ocuphire's commercial partner. Phentolamine Ophthalmic Solution 0.75% is currently being evaluated in presbyopia and dim light vision disturbances after keratorefractive surgery. The VEGA-3 Phase 3 clinical trial for presbyopia is actively enrolling, and top-line data are expected in the first half of 2025. The LYNX-2 Phase 3 trial in patients with decreased visual acuity under low light conditions following keratorefractive surgery is also actively enrolling, and top-line data are expected in the first quarter of 2025.
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SHLS | Hot Stocks08:27 EDT Shoals Technologies appoints Kirsten Moen as COO, Chad Warpula as interim CLO - Shoals Technologies Group has further strengthened its executive team with two new additions to drive operational excellence. Kirsten Moen, newly appointed Chief Operations Officer, is an accomplished operations and manufacturing executive with extensive experience in leading organizations such as Eaton and Stanley Black & Decker. Rounding out the executive team expansion is Chad Warpula, who was appointed as interim Chief Legal Officer. Chad is a corporate partner at Troutman Pepper where he represents clients in a wide variety of complex matters, including corporate, securities, M&A, governance, joint ventures, compliance and intellectual property.
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SHIP | Hot Stocks08:26 EDT Seanergy Marine urges shareholders to vote for Seanergy director nominees - Seanergy Maritime Holdings has commenced mailing of proxy materials to its shareholders in connection with the Company's 2024 Annual Meeting of Shareholders, scheduled to be held on November 4, 2024. Shareholders of record as of the close of business on September 19, 2024, will be entitled to vote at the meeting. The company said, "The Company also mailed a letter to Seanergy shareholders highlighting the commitment of the Board of Directors and management team to delivering value for all Seanergy shareholders and how the Company's continued execution of its strategic plan has it positioned to continue delivering leading and sustainable shareholder returns through the cycle. George Economou - a shipowner and a competitor of Seanergy - has acquired a stake in Seanergy. He has brought litigation and launched a proxy fight against Seanergy seeking to gain effective control over the Company's Board and its corporate strategy by replacing two of the Company's directors with his own closely-associated nominees and calling for the resignations of the rest of Seanergy's Board members. In turn, this would allow Economou's nominees to fill those vacancies, such that the entire Board would be constituted with the nominees of a single shareholder. Based on his extensive track record of destroying shareholder value across multiple publicly listed companies, Economou's blatant attempt to seize effective control over the Company by replacing the entire Board with his own nominees and their appointees would be detrimental to Seanergy's ability to continue to deliver outperformance and would negatively impact shareholder value. The Board of Directors unanimously recommends that shareholders vote on the WHITE proxy card "FOR" Seanergy's nominees and "AGAINST" the Economou proposals."
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SCPX | Hot Stocks08:24 EDT Scorpius signs contract to provide bioanalytical services to biotech company - Scorpius Holdings signed a contract to provide bioanalytical services for a publicly traded clinical-stage immuno-oncology company. This collaboration opens the door for further opportunities, as Scorpius expects to expand its services to include additional analytical work and future GMP manufacturing upon completion of this initial phase. This contract underscores Scorpius' expertise in delivering critical bioanalytical and process development services, further establishing its role as a trusted partner in the biologics manufacturing space.
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ULBI ITGR | Hot Stocks08:23 EDT Ultralife to acquire Electrochem from Integer for $50M - Ultralife Corporation (ULBI) has signed a stock purchase agreement to acquire all outstanding shares of Electrochem Solutions, to include its state-of-the-art ISO certified technology and manufacturing facility for $50.0 million in cash from Integer Holdings Corporation (ITGR), subject to customary working capital adjustments. The transaction is expected to close by the end of October. Ultralife expects to finance the transaction through its primary lender. Based in Raynham, MA and with over forty years of battery technology experience in critical applications, Electrochem designs and manufactures primary lithium metal and ultracapacitor cells and battery packs serving energy, military and various environmental, industrial and utility end markets on a global basis. For the trailing twelve-month period ended June 30, 2024, Electrochem recorded revenue of $34 million. The transaction is expected to be accretive on an EPS basis for 2025.
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INMB | Hot Stocks08:23 EDT INmune Bio completes enrollment for Phase 2 trial in Early AD - INmune Bio closed enrollment for its Phase 2 trial on Friday, 27 September. This global, blinded, randomized Phase 2 trial is focused on patients with Early AD and biomarkers of elevated neuroinflammation. Enrollment of new patients into the trial was concluded after the Company determined that there are sufficient patients currently in screening to meet the trial's target of 201 patients. All patients currently in the screening process will remain eligible to participate in AD02, which will likely result in modest over-enrollment.
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LOBO | Hot Stocks08:22 EDT LOBO EV remains 'optimistic about continued momentum' in 2H24 - The company said, "With the successful execution of its growth strategy, including international expansion and product innovation, LOBO remains optimistic about continued momentum in the second half of 2024. The Company plans to launch several new vehicle models and further strengthen its presence in international markets, driving both unit sales and revenue growth."
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PERF | Hot Stocks08:21 EDT Perfect Corp teams with vacation retail curator Starboard Group - Perfect Corp announced a collaboration with Starboard Group, the world's leading vacation retail curator. Starboard is continuing to pave the way for innovation as it rolls out its SkInsight experience, a cutting-edge interactive AI skin analysis, onboard 30 more ships this month. Developed in partnership with Perfect Corp., a pioneer in 'Beautiful AI', the SkInsight digital experience delivers detailed skin assessments to guests in seconds, along with uniquely personalized skincare regimens featuring products available for purchase onboard. Starboard debuted the SkInsight experience on Carnival Jubilee in December 2023 and will now offer the AI solution at retail stores on ships across Royal Caribbean International, Carnival Cruise Line, Virgin Voyages and and TUI Mein Schiff fleets...With plans for continued expansion, Starboard's SkInsight symbolizes more than just a technological innovation- it's a revolution in how it engages with beauty and a bold leap into the future of retail, setting new standards for inclusivity, personalization, and guest engagement. By seamlessly integrating AI and AR into the cruise experience, Starboard is transforming beauty shopping into an immersive, memorable adventure that resonates with every guest...
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LOBO | Hot Stocks08:21 EDT LOBO EV anticipates margin improvements in 2H24 - In H1 2024, LOBO increased its research and development spending by 86%, focusing on enhancing product features and developing advanced software solutions to meet customer needs in newly entered markets. The Company also expanded its inventory by 55% to support growing demand and facilitate the roll-out of new vehicle models in the second half of the year. LOBO anticipates margin improvements in H2 2024 as the Company continues to scale operations and optimize its supply chain. The introduction of new vehicle models and increased sales in higher-margin international markets are expected to contribute to improved profitability. LOBO's management remains focused on cost control measures and operational efficiencies to drive sustainable margin expansion in the second half of the year.
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MDGL | Hot Stocks08:19 EDT Madrigal announces publication of results from MAESTRO-NASH trial - Madrigal Pharmaceuticals announced the publication of positive patient-reported outcomes data demonstrating Rezdiffra improved health-related quality of life in patients with NASH with moderate to advanced fibrosis. The results were published in the journal Hepatology. Rezdiffra is a once-daily, oral, liver-directed thyroid hormone receptor-beta agonist designed to target key underlying causes of NASH. It is the first FDA-approved medication for the treatment of NASH. In the pivotal Phase 3 MAESTRO-NASH biopsy trial, Rezdiffra achieved both fibrosis improvement and NASH resolution primary endpoints, and 80% of patients treated with Rezdiffra 100 mg experienced improvement or stabilization of fibrosis. Rezdiffra is indicated in conjunction with diet and exercise for the treatment of adults with noncirrhotic NASH with moderate to advanced liver fibrosis. Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. In the study, changes in HRQL scores from baseline were evaluated in patients receiving Rezdiffra versus placebo and compared between patients with and without biopsy response. By weeks 24 and 52, patients receiving both doses of Rezdiffra experienced improvement of HRQL scores in the Worry domain of the Chronic Liver Disease Questionnaire-NASH. At week 52, Rezdiffra-treated patients who achieved fibrosis improvement or NASH resolution experienced improvement in several HRQL domains, including domains for Worry, Health Distress and Stigma. The improvement in HRQL among Rezdiffra biopsy responders was contrasted by no similar improvement in the placebo group. Biopsy responders with stage F3 fibrosis at baseline had similar or more pronounced improvements of HRQL in comparison to those responders with F2 or F1B fibrosis at baseline.
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MATW | Hot Stocks08:17 EDT Matthews completes senior notes offering - Matthews International closed on September 27, 2024 on its previously announced private offering of $300 million aggregate principal amount of its 8.625% senior secured second lien notes due 2027. The Notes will pay interest semi-annually in arrears, on April 1 and October 1 of each year, beginning on April 1, 2025. The Notes will mature on October 1, 2027, unless earlier redeemed or repurchased, and are callable in one year. The Company intends to use the net proceeds of the offering, together with borrowings under the senior credit facility under the Credit Agreement, to redeem all of its outstanding senior notes due December 1, 2025 on or about October 24, 2024, and to pay accrued and unpaid interest on the Existing 2025 Notes to, but not including, the date of redemption, and to satisfy and discharge the indenture governing the Existing 2025 Notes.
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STKH | Hot Stocks08:16 EDT Steakholder Foods receives purchase order under Bondor Foods agreement - Steakholder Foods has received an initial purchase order, since it was incorporated, from Bondor Foods Ltd. under the commercial agreement signed earlier this month. The order represents a significant milestone for Steakholder Foods as it marks the Company's first revenue for its proprietary alternative protein premixes in 2024. The purchase order follows the recently announced commercial agreement between Steakholder Foods and Bondor Foods, a renowned frozen foods manufacturer and institutional market distributor. Under the terms of the agreement, Steakholder Foods will supply its proprietary alternative protein premixes for use in Bondor Foods' new line of white fish and salmon patties. This order solidifies the successful launch of Steakholder Foods' commercialization efforts, with first income in 2024.
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MRUS | Hot Stocks08:16 EDT Merus announces first patient dosed in LiGeR-HN1 Phase 3 trial - Merus announced that the first patient has been dosed in the Company's phase 3 trial evaluating the efficacy and safety of petosemtamab, a Biclonics targeting EGFR and LGR5, in combination with pembrolizumab, compared to pembrolizumab as first line therapy for patients with PD-L1+ recurrent/metastatic head and neck squamous cell carcinoma, referred to as the LiGeR-HN1 trial. Merus has confirmed through feedback with the U.S. Food and Drug Administration that petosemtamab 1500 mg every two weeks is appropriate for further development in HNSCC as monotherapy, and in combination with pembrolizumab.
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MBX | Hot Stocks08:15 EDT MBX Biosciences presents MBX 2109 Phase 2 Avail trial rationale, design - MBX Biosciences announced that both the rationale and design of the Phase 2 Avail trial of MBX 2109, the Company's potential long-acting parathyroid hormone peptide prodrug, in adults with hypoparathyroidism were featured in a poster presentation at the American Society for Bone and Mineral Research 2024 Annual Meeting held in Toronto, ON, Canada September 27-30, 2024. MBX 2109 is an investigational, PTH peptide prodrug designed as a once-weekly PTH replacement therapy with the potential to normalize serum calcium levels, reduce the need for active vitamin D and calcium supplementation, and improve patient convenience and treatment adherence. The Phase 2 Avail trial is a randomized, multicenter, 12-week, double-blind, placebo-controlled study evaluating the safety, pharmacokinetics, and efficacy of MBX 2109 in approximately 48 adults with HP. The primary endpoint of the Phase 2 clinical trial is the proportion of patients who can discontinue active vitamin D and reduce calcium supplements to less than or equal to 600 mg per day after 12 weeks of treatment while maintaining normal serum albumin-adjusted calcium levels. Secondary endpoints include safety and tolerability of MBX 2109 and characterization of its pharmacokinetics and pharmacodynamic activity and the impact on quality of life using patient-reported outcome tools. The trial begins with an optimization period of up to 4 weeks in which doses of calcium, vitamin D, and/or magnesium supplements are adjusted to achieve normal serum calcium levels. Participants completing the optimization period are then randomized 1:1:1:1 to receive weekly doses of placebo or MBX 2109 at 400, 600, or 800 undefined for 12 weeks. The treatment period is comprised of a 4-week fixed-dose period and an 8-week titration period. During the 8-week dose-adjustment period, doses of MBX 2109 and active vitamin D and calcium supplements are adjusted according to a prespecified protocol algorithm to reduce risk of hypo- or hypercalcemia. Participants completing the 12-week treatment period may enroll in a long-term, open-label extension study. Participants who received MBX 2109 will maintain their existing dosage from the 12-week trial while patients on placebo will transition to MBX 2109 at the 400 undefined dose. The first patient in the study was dosed in August 2024. The study is actively enrolling, and topline study results are expected to be available in the third quarter of 2025.
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KZR | Hot Stocks08:15 EDT Kezar Life Sciences trading halted, news pending
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SAPIF | Hot Stocks08:14 EDT CDPQ increases its stake in Saputo - CDPQ announced an additional investment of approximately $378M in Saputo. CDPQ's stake in the company now totals approximatively 4.5%, following the acquisition of 13.5 million shares at a price of $27.96 per share. "CDPQ is proud to continue supporting Saputo, a leading Quebec company, by increasing its stake in this world leader in dairy processing," said Kim Thomassin, Executive Vice-President and Head of Quebec at CDPQ. "We've been a shareholder of the company for nearly 30 years, and this investment aligns with our strategy to foster the emergence of North American and international champions while generating benefits for Quebec."
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CWST | Hot Stocks08:13 EDT Casella Waste closes $1.5B amended, restated credit facility - Casella Waste Systems has entered into a $1.5 billion amended and restated credit agreement with Bank of America, N.A. as administrative agent and lender and a syndicate of other lenders. The Credit Facility matures on September 27, 2029 and replaces the Company's prior $1.08 billion credit facility. The Credit Facility provides for an $800 million term loan A facility and a $700 million revolving credit facility, with a $155 million sublimit for letters of credit. The revolving credit facility was undrawn at closing and provides increased liquidity for general corporate purposes, including the execution of the Company's acquisition strategy. The interest rate margin applicable to SOFR based borrowings, including revolving loans, ranges from 1.300% to 2.175% based on consolidated net leverage ratio. The joint lead arrangers of the Credit Facility are BofA Securities, Inc., JPMorgan Chase Bank, N.A., Citizens Bank, N.A., TD Bank, N.A., Wells Fargo Securities, LLC, and Comerica Bank.
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SPNS | Hot Stocks08:13 EDT Sapiens announces South Africa's HGR has gone live with its DataSuite - Sapiens International announced that South Africa's Hollard Group Risk, HGR, a division of Hollard Life Insurance Company Limited, has gone live with Sapiens DataSuite, to accelerate the complex migration of HGR's business and align processes with Sapiens CoreSuite for Life & Pensions. DataSuite will support the transition period between the core system and HGR's legacy system.
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ITGR ULBI | Hot Stocks08:13 EDT Integer to divest non-medical business for $50M - Integer Holdings Corporation (ITGR) has entered into an agreement to divest its Electrochem business, which focuses on non-medical applications for the energy, military and environmental sectors, to Ultralife Corporation (ULBI). Ultralife is acquiring Electrochem for $50M in cash, subject to customary working capital adjustments, and the transaction is expected to close by the end of October. Going forward, Integer will report the results of its Electrochem business, currently included in its "Non-Medical" segment, as part of discontinued operations. This will include any gain or loss recognized on the sale of the business. The Company intends to use the proceeds from the sale to pay down outstanding debt and for general corporate purposes. In the 2024 full year guidance provided as part of our second quarter 2024 earnings release, we assumed the following in relation to our non-medical segment, adjusted to include $3 million of allocated interest expense as part of discontinued operations: Sales of $36 million. GAAP operating income of $3 million. Non-GAAP adjusted operating income of $4 million. Adjusted EBITDA of $5 million. GAAP net income of $0 million. Non-GAAP adjusted net income of $1 million. GAAP diluted EPS of $0.00. Non-GAAP adjusted EPS of $0.02. The company expects this transaction to be neutral to EPS.
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JNJ | Hot Stocks08:12 EDT Johnson & Johnson rolls out new TECNIS Odyssey - Johnson & Johnson has announced it's expanding the roll-out of its latest advancement in presbyopia-correcting intraocular lenses, TECNIS Odyssey, in the U.S. The new full visual range IOL offers patients unmatched continuous full range of vision, so they can see clearly from far to near and in between, minimizing their need for glasses. TECNIS Odyssey IOL is built on the TECNIS platform, providing two-times better contrast in low lighting than PanOptix. In addition, TECNIS Odyssey IOL patients are able to read 14% smaller print on average than PanOptix IOL patients and 93% reported no or mild halos, glare, or starbursts one month after surgery.
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CCLD | Hot Stocks08:11 EDT CareCloud, ChartSwap partner to launch 'CareCloud Powered by ChartSwap' - CareCloud announced a strategic partnership with ChartSwap to launch "CareCloud Powered by ChartSwap." This new collaboration will significantly enhance the way medical records are handled and accessed, enabling CareCloud's providers to focus more on delivering high-quality patient care. Through this partnership, ChartSwap will serve as the dedicated portal for handling Release of Information requests for medical information at CareCloud provider locations. Requestors, including law firms and insurance companies, will now be able to obtain medical records through ChartSwap's secure and user-friendly platform. By eliminating the manual burden associated with processing records requests, the new partnership empowers CareCloud providers to streamline administrative tasks and focus on patient care.
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NRBO | Hot Stocks08:10 EDT NeuroBo Pharmaceuticals announces data from SAD Part 1 of trial of DA-1726 - NeuroBo Pharmaceuticals announced positive top-line safety, tolerability, and dose-linear pharmacokinetics, PK, data from the single ascending dose, SAD, Part 1 of its Phase 1 clinical trial of DA-1726, a novel, dual oxyntomodulin, OXM, analog agonist that functions as a glucagon-like peptide-1 receptor, GLP1R, and glucagon receptor, GCGR, for the treatment of obesity. In the SAD Part 1 of the Phase 1 clinical trial, a total of 45 obese, otherwise healthy participants were randomized in a double-blind, 6:3 ratio of DA-1726 or placebo. Single ascending doses were found to be safe and well tolerated, with no serious adverse events. Only 5 subjects in the DA-1726 treatment group reported adverse events compared with 3 subjects in the placebo group. A dose-linear PK profile was observed across the investigated dose range. Additional cohorts are being added to the SAD Part 1 to explore the maximum tolerated dose.
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AGCO | Hot Stocks08:10 EDT TAFE issues letter to AGCO shareholders outlining governance opportunities - TAFE issued the following open letter to its fellow shareholders..."Tractors and Farm Equipment is the largest shareholder of AGCO Corporation with ownership of approximately 16.3% of the Company's outstanding shares. We are also a long-term shareholder who has spent more than a decade trying to enable the Company to grow and create enhanced value for all stakeholders. We believe our significant shareholdings and track record of constructive engagement demonstrate that our interests are squarely aligned with your interests. Given our experience allocating capital and operating businesses within the agricultural machinery sector, we have firm conviction in AGCO's future growth potential. As the Company has struggled in recent years to integrate acquisitions and expand into new markets, we have drawn on our experience to provide leadership with pragmatic suggestions. Unfortunately, AGCO has responded by ignoring these ideas, taking measures to disenfranchise TAFE, and isolating our representative on the Board of Directors. This seemingly unjustifiable intransigence has resulted in the deterioration of the Company's competitive position and financial performance versus peers and is now forcing us to deviate from our preferred method of private engagement."
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ANVS | Hot Stocks08:09 EDT Annovis Bio files three new patents for combination therapies - Annovis Bio announced the filing of three new patents for combination therapies involving its lead compound, buntanetap. These patents cover combinations of buntanetap with Trulicity, Viagra, or a combination of all three, creating a multifaceted approach to treating neurodegenerative diseases. Buntanetap, the Company's lead drug asset, inhibits the production of neurotoxic proteins and has been shown to improve cognition in early AD patients and halt cognitive decline in PD patients. Recent preclinical studies have demonstrated that when buntanetap is combined with a GLP-1 agonist or PDE5 inhibitors, cognitive function in Alzheimer's mouse models improves to levels beyond those observed in healthy controls. With these compelling results demonstrating strong potential for cognition-enhancing combinations, Annovis further strengthens its intellectual property portfolio through the filing of the following patents: Buntanetap + Trulicity. Buntanetap + Viagra. Buntanetap + Trulicity + Viagra.
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BCSA | Hot Stocks08:09 EDT Blockchain Coinvestors terminates business combo agreement with Linqto - Blockchain Coinvestors Acquisition Corp. I announced that its business combination agreement with Linqto has been terminated. As previously announced, on April 9, 2024, Blockchain Coinvestors Acquisition Corp. I, a Cayman Islands exempted company, entered into a Business Combination Agreement, by and among BCSA, Linqto and BCSA Merger Sub I, Inc.
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HSDT | Hot Stocks08:08 EDT Helius Medical announces preliminary results of the PoNSTEP study - Helius Medical Technologies announced preliminary results from its Therapeutic Experience Program open-label observational study which evaluates the impact of subjects' adherence to the Portable Neuromodulation Stimulator Therapy program that treat gait deficit due to multiple sclerosis. The study treatment phase is complete, and the ongoing post-treatment follow-up phase will be completed by the end of the year, with full results expected to be released in early 2025. The primary endpoint of the study is aimed at demonstrating improvement in DGI from end of the 2-week supervised in-clinic treatment phase to end of the 12-week at-home, unsupervised treatment phase, relative to subjects' adherence to PoNS device utilization in their weekly PoNS therapy program. Forty-three subjects with gait deficit due to symptoms from multiple sclerosis were enrolled with 41 participants starting the study treatment and 38 participants completing the 14-week study treatment period who are currently undergoing post treatment follow-up. PoNSTEP met the primary endpoint, showing statistically significant mean improvement in DGI during Phase 2 and a linear relationship between PoNS Therapy adherence and improvement in DGI scores from end of Phase 1 to end of treatment at week 14: In Phase 1, the average therapy adherence was almost 90% with a mean improvement of 2.5 points in DGI scores from baseline to the end of week 2 without, however, a clear correlation between adherence and DGI improvement. In Phase 2, the average therapy adherence was 67% with a mean incremental improvement, at week 14, of an additional 2.8 points in DGI scores from the improvement achieved at the end of Phase 1. In contrast to Phase 1, improvement in Phase 2 DGI was significantly moderated by PoNS adherence. Over the course of the 14-week treatment, the average therapy adherence met or exceeded 70% of the recommended, on label, PoNS Therapy utilization and led to a mean improvement of 5.0 points in DGI from baseline to the end of the 14-week treatment period moderated by adherence. Among 23 participants who met or exceeded 70% therapy adherence, more than 65% experienced a cumulative mean DGI improvement of at least 5 points and approximately 74% gained at least 4-point improvement from baseline to end of treatment. The preliminary descriptive analysis of the active treatment data from Phase 1 and Phase 2 demonstrates that, overall, 66% of participants gained a clinically meaningful improvement of at least 4 points in the DGI assessment over the course of the therapy. In addition, 71% of participants gained at least a 2-point improvement in DGI in the first 2 weeks of in-clinic treatment and 68 % had an incremental DGI improvement of at least 2 points over the course of the remaining 12 weeks of at-home therapy. In line with the clinical evidence from PoNS clinical studies and real-world utilization data, 50% of participants who used PoNS Therapy for the recommended 100-120 min/day, equivalent to 85% and 100% therapy adherence respectively, achieved over a 6-point improvement in DGI from baseline over 14 weeks of treatment.
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OWL | Hot Stocks08:08 EDT Blue Owl Capital completes acquisition of Atalaya Capital's business - Blue Owl Capital announced the completion of its acquisition of the business of alternative credit manager, Atalaya Capital Management. The acquisition was previously announced in July of 2024. Atalaya focuses primarily on asset-based credit investments across consumer and commercial finance, corporate and real estate assets. As of June 30, 2024, Atalaya managed over $10 billion of assets under management. Atalaya's Founding Partner and Chief Investment Officer, Ivan Zinn, has been appointed Blue Owl's Head of Alternative Credit, reporting to Craig Packer, Head of Credit and Co-President of Blue Owl. The completion of the acquisition of Atalaya's business represents a significant expansion of Blue Owl's alternative credit presence and supplements the firm's market leading position in direct lending.
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FMC | Hot Stocks08:07 EDT FMC Corporation announces distribution agreement with Ballagro Agro - FMC announced an agreement with Ballagro Agro Tecnologia., a pioneer and leader in fungi-based biosolutions, to provide growers in Brazil with a broad portfolio of differentiated biological solutions. The agreement is part of FMC's strategic plan to grow its biologicals platform in key markets like Brazil. As part of the agreement, FMC Brazil will license and distribute key leading biosolutions from Ballagro. The partnership brings together the companies' deep technical expertise - FMC in microbial and Ballagro in fungi-based solutions - to strengthen the biosolutions business in Brazil by expanding growers' access to superior crop protection technologies.
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APD HON | Hot Stocks08:06 EDT Air Products completes $1.81B sale of LNG process tech to Honeywell - Air Products announced it has completed the sale of its liquefied natural gas, LNG, process technology and equipment business to Honeywell for $1.81 billion in cash. First announced in July 2024, closing conditions for the transaction have been fully met and regulatory approvals received. The divestiture of the LNG process technology and equipment business is strategic, reflecting Air Products' firm focus on its two-pillar growth strategy to profitably grow its core industrial gases and related equipment businesses, and to deliver clean hydrogen at scale.
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AEON | Hot Stocks08:05 EDT Aeon Biopharma announces outcome from FDA biosimilar advisory meeting - AEON Biopharma announced receipt of the formal minutes from a recent Biosimilar Initial Advisory Meeting with the U.S. Food and Drug Administration for ABP-450 injection as a biosimilar utilizing BOTOX as the reference product. The purpose of the meeting was to seek alignment with the FDA on proposed 351(k) regulatory pathway and determine the next steps in the development pathway. The Company believes it is aligned with the FDA on key requirements, including additional analytical studies to be completed to fulfill the standard regulatory requirements for a comparative analytical assessment. The Company is actively planning comparative analytical studies, which are expected to commence in Q4 2024. A Biosimilar Biological Product Development Type 2 meeting with FDA is planned for 2025 to discuss the outcome from these studies and determine the next steps in development, including a potential comparative clinical program. As previously announced, the Company expects it will need to conduct, subject to securing funding, a Phase 3 program to compare ABP-450 with BOTOX as the reference product. Under the 351(k) regulatory framework, comparative clinical studies are only required when it is necessary to address any residual uncertainty regarding biosimilarity following a comparative analytical assessment. The necessity of any specific comparative clinical studies will be determined after the FDA has reviewed the results from the CAA, which AEON currently anticipates in 2025.
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ATXS | Hot Stocks08:05 EDT Astria Therapeutics gets ODD from FDA for navenibar to treat HAE - Astria Therapeutics announced that navenibart or STAR-0215, has been granted Orphan Drug Designation for the treatment of hereditary angioedema HAE by the U.S. Food and Drug Administration FDA. Navenibart is a monoclonal antibody inhibitor of plasma kallikrein designed to provide long-acting attack prevention for HAE. Initial results from the Phase 1b/2 ALPHA-STAR clinical trial of navenibart have demonstrated a favorable safety and tolerability profile and a reduction of monthly attack rates by 90-96% when dosed once or twice over six months. "Receiving orphan drug designation for navenibart is an important affirmation of our belief that there is a significant unmet need for people living with HAE," said Jill C. Milne, Ph.D., Chief Executive Officer. "We believe navenibart has the potential to be the market-leading HAE treatment because of its trusted mechanism and modality, efficacy observed to date, and low treatment burden with infrequent dosing, and think that navenibart could change the way that people live with their HAE. We expect to share additional results from the ALPHA-STAR trial in Q4 and to progress navenibart into a Phase 3 trial initiating in the first quarter of 2025." The FDA's Orphan Drug Designation program grants orphan status to medicines intended for the safe and effective prevention, diagnosis, or treatment of rare diseases or disorders that affect fewer than 200,000 people in the United States.
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HON | Hot Stocks08:05 EDT Honeywell completes acquisition of Air Products' LNG process tech for $1.81B - Honeywell announced the completion of its acquisition of Air Products' liquefied natural gas, LNG, process technology and equipment business for $1.81 billion in an all-cash transaction. This further expands the comprehensive suite of top-tier solutions Honeywell offers its customers for managing their energy transformation journey. "The acquisition of Air Products' LNG process technology and equipment business strengthens Honeywell's energy transition portfolio and will enable our customers to manage their liquefied natural gas assets with greater efficiency and reliability," said Ken West, President and CEO of Honeywell's Energy and Sustainability Solutions segment. "With the integration of the LNG business, we will be able to provide a greater level of energy transition management from beginning to end through a full spectrum of scalable solutions."
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MOBX EMKR | Hot Stocks08:05 EDT Mobix Lab submits proposal to acquire Emcore for $3.80 per share in cash - Mobix Labs (MOBX) announced it has submitted a non-binding proposal to the board of directors of Emcore (EMKR) to acquire all of Emcore's outstanding shares for $3.80 per share in cash. Mobix Labs' all cash proposed offer to the Emcore board represents a more than 200% premium over Emcore's current stock price as of September 27. Based upon its 2022 and 2023 10-K filings, Emcore's revenue in its fiscal year ending 9/30/23 grew 115% to $97M from the prior year. Mobix Labs' proposal has the support of its board of directors. Mobix Labs' all cash offer is subject to the approval of the Emcore board of directors, the execution of a definitive agreement between Mobix Labs and Emcore, and any shareholder approval that may be required by law.
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CCG | Hot Stocks08:04 EDT Cheche Technology announces CEO Lei Zhang recently acquired shares of its stock - Cheche Group announced that its Founder, Chief Executive Officer and Chairman, Lei Zhang, recently purchased Class A ordinary shares of Cheche in the open market. "The rapid growth of the digital insurance business for new energy vehicles and the significant economies of scale underscore the enormous potential of our platform," said Mr. Zhang. "My investment reflects my confidence in Cheche as we continue to build and customize products for our expanding network of insurance and manufacturing partners and increase our footprint in China's insurance business."
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TOI | Hot Stocks08:04 EDT The Oncology Institute announces expansion into Oregon - The Oncology Institute announced its expansion into Oregon with the opening of two new specialty cancer clinics. The clinic locations in Portland and Salem will mark TOI's first capitated partnership in the market, with plans to expand to other markets in the state as additional partnerships develop. Both initial Oregon clinic locations will offer cutting edge cancer care services, offering a vital new option for patients in the Pacific Northwest.
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CLDI | Hot Stocks08:03 EDT Calidi announces FDA clearance of Northwestern University's IND application - Calidi Biotherapeutics announced that the U.S. Food and Drug Administration (FDA) has cleared Northwestern University's Investigational New Drug application for Calidi's CLD-101. CLD-101 is a novel stem-cell based platform designed to deliver oncolytic viruses to tumors, enhancing their antitumor effects. The Phase 1b/2 clinical trial is expected to commence in late 2024 at Northwestern University. The Phase 1b/2 open label study of CLD-101 will evaluate the safety and feasibility of administering multiple doses of CLD-101 in patients with newly diagnosed high-grade glioma. Eligible patients, with a confirmed biopsy diagnosis, will receive repeated doses of CLD-101 in addition to surgery, standard-of-care radiation therapy, and chemotherapy.
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INFN | Hot Stocks08:01 EDT Infinera says GHG emission reduction targets validated by SBTi - Infinera announced that its greenhouse gas emission reduction targets have been validated by the Science Based Targets initiative. This third-party validation reinforces Infinera's commitment to promoting sustainability in the telecommunications industry through energy-efficient optical networking solution design and environmental, social, and governance initiatives. SBTi is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. SBTi's Target Validation Team has classified Infinera's Scope 1 and Scope 2 target ambitions as in line with keeping global warming to 1.5 degrees C in accordance with the Paris Agreement. SBTi validates that Infinera's 1.5 degrees C-aligned target is currently the most ambitious designation available through SBTi's evaluation process. Infinera's targets as verified by SBTi include: A commitment to reduce absolute Scope 1 and Scope 2 GHG emissions by 85 percent by 2030 from a 2020 base year. A commitment to reduce absolute Scope 3 GHG emissions by 25 percent within the same timeframe. Infinera is making significant progress in minimizing its carbon footprint, having reduced Scope 1 and 2 GHG emissions by 75 percent since 2020. The company also confirmed it is using renewable energy in over 80 percent of its Tier 1 and Tier 2 sites.
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MCVT | Hot Stocks07:51 EDT Mill City Ventures III advances $2M to facilitate Enchant Christmas attractions - Mill City Ventures III announced its funding of a $2 million short-term loan to facilitate three holiday attractions being undertaken by Enchant Christmas, LLC in Las Vegas, San Jose, and Seattle.
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THAR | Hot Stocks07:50 EDT Tharimmune signs nonbinding LOI to merge with Intract Pharma - Tharimmune and Intract Pharma have entered into a nonbinding, exclusive letter of intent pursuant to which Tharimmune will acquire all outstanding shares of privately-held Intract in exchange for newly issued restricted common stock. Under the terms of the LOI, following the execution of a definitive agreement and the closing of the merger, Intract shareholders will own 49% of the total equity in the combined entity, which will be named Tharimmune, Inc., with Intract becoming a wholly owned subsidiary. The company will continue to trade on the Nasdaq Capital Market under the ticker symbol "THAR". Tharimmune believes the merger will position the combined company to reach multiple milestones with significant value-creation potential over the next 24 months, driven by a strong clinical pipeline, a seasoned Board of Directors, a unified management team and the support of current healthcare-focused investors. Furthermore, this transaction aims to expand Tharimmune's product pipeline and reinforce its commitment to pioneering novel treatments, thereby enhancing its competitive position in the high-value, multibillion-dollar biologics market. Beyond expanding Tharimmune's therapeutic pipeline, the proposed transaction, which is expected to close in the first quarter of 2025, is expected to create significant shareholder value by strengthening the company's competitive position in the high-value, multibillion-dollar biologics market. The transaction represents a strategic opportunity for the combined company to strengthen its position in the biotechnology industry, expand its therapeutic pipeline and create long-term value for shareholders. The development of oral biologics holds immense potential to improve patient compliance and overall quality of life. By offering a more convenient and less invasive method of delivery, patients are more likely to adhere to their treatment regimens. This may, in turn, lead to better health outcomes and a higher quality of life for those who require long-term therapy with biologics. Intract's oral biologics delivery platform is designed to protect the molecules as they pass through the harsh environment of the gastrointestinal tract, ensuring they reach their target sites in the diseased tissue or in systemic circulation. This innovative approach holds potential to revolutionize the way biologics are administered, making treatments more accessible and less burdensome for patients. On September 16, 2024, Tharimmune announced it entered into a definitive agreement with Intract Pharma to exclusively license INT-023/TH023, an oral anti-tumor necrosis factor alpha monoclonal antibody, infliximab. Under the terms of the agreement, Tharimmune licensed global development and commercialization rights to Intract Pharma's Soteria and Phloral delivery platform along with an existing supply agreement for infliximab to be used in the oral product development program. That agreement is not impacted by the acquisition letter of intent.
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OR GYYSF | Hot Stocks07:48 EDT Osisko Gold to purchase royalties on Spartan Resources' Dalgaranga Gold Project - Osisko Gold Royalties has entered into a binding agreement to acquire a 1.8% gross revenue royalty on the Dalgaranga Gold project operated by Spartan Resources in Western Australia. In addition, Osisko shall also acquire a 1.35% GRR on additional regional exploration licenses in proximity to Dalgaranga. The considerations to be paid by Osisko to the seller, Tembo Capital Mining Fund III, for the Dalgaranga Royalty and the Exploration Royalty, respectively, total $44 million and $6 million. Closing of the Transaction is subject to approval from Australia's Foreign Investment Review Board which is expected in the coming weeks.Dalgaranga is one of the best gold development and production re-start projects globally. The Project is located in Western Australia, one of the most prolific and well-established mining jurisdictions; and Dalgaranga, a recently mined open pit operation, has been rejuvenated by very impressive new high-grade discoveries, most notably the Never Never and Pepper deposits, which have shifted the focus towards ore extraction via underground mining methods. The Dalgaranga mill is fully-permitted and approvals for future underground mining are in progress, providing a clear path to near-term production. The Project is on the verge of re-starting as one of Western Australia's next significant high-grade gold mines with first production from underground likely re-commencing within the next 2 years. High-grade discoveries at the Project continue to drive ongoing underground mineral inventory growth; Spartan expects to complete a Mineral Reserve Estimate update and Feasibility Study both within the first half of 2025; the new underground mine plan will serve as the basis for Spartan's Final Investment Decision to re-start operations at Dalgaranga; and, In addition to the evolving exploration story at Dalgaranga, the Exploration Royalty provides exposure to a large prospective land package covering mineralization within trucking distance to various mills located in the Murchison Gold District. Jason Attew, President and CEO, commented: "Osisko's ability to uncover and execute accretive near-term cash flow precious metals transactions in Tier-1 mining jurisdictions is synonymous with our strategy. We believe that Dalgaranga is one of the most attractive gold development and re-start projects globally given its high-grade underground nature, and its location in the Murchison Gold District in Western Australia. What the Spartan team has been able to accomplish in terms of resource discovery and definition at Dalgaranga over the past two years is impressive. We believe that Spartan will move forward with an FID at the Project before the end of 2025 and that its team will continue to expand the high-grade resource at Dalgaranga. We're extremely pleased to be associated with one of Australia's most exciting gold development and re-start opportunities, and with an asset that boasts such exciting exploration upside potential. We look forward to our partnership with the Spartan team going forward."
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BWAY | Hot Stocks07:45 EDT Brainsway announces $20M private placement with Valor Equity Partners - BrainsWay has entered into a securities purchase agreement with an affiliate of Valor Equity Partners for a private investment financing expected to result in gross proceeds of approximately $20M. In the PIPE, BrainsWay has agreed to issue to Valor an aggregate of 2,103,745 American Depositary Shares, at a purchase price of $9.51 per ADS, a 20% premium above the 30-day volume-weighted average price of the ADSs, and warrants to purchase up to an additional 1,500,000 ADSs at the same price, which may further increase the proceeds from the PIPE up to a total of approximately $34.3M if the Warrants are fully exercised in cash. The Warrants will become exercisable upon issuance thereof at the closing of the PIPE and will remain exercisable for 18 months following their initial issuance date, provided, however, that during such 18-month period, if the Company's ADS closing price for any thirty consecutive trading days exceeds the Exercise Price by 40% or more, the holder of the Warrants shall be required to fully exercise the Warrants in accordance with the terms therein within five trading days. In connection with the PIPE, the Company is granting Valor the right to nominate at least one member to its board of directors so long as Valor holds, directly or indirectly, at least 10% of the outstanding voting rights of the Company and two members to its board of directors so long as Valor holds, directly or indirectly, at least 20% of the issued and outstanding share capital of the Company. Valor has notified the Company that the initial director it designates for nomination as a member to the board of directors will be Mr. Shulkin. The closing of the PIPE and the issuance of the ADSs and Warrants to Valor is subject to customary closing conditions as well as the Company obtaining shareholder approval of the transaction. The Company agreed to file a notice and proxy statement for its extraordinary general meeting of its shareholders for the purpose of obtaining such shareholder approval by no later than ten days following the signing of the securities purchase agreement and hold such meeting within thirty-five days following such filing. The Company intends to use the proceeds from the PIPE for strategic initiatives including to expand market awareness, enhance data analysis capabilities, develop its R&D roadmap, evaluate other potential opportunities in the TMS industry and expand access to Deep TMS.
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ARAY | Hot Stocks07:43 EDT Accuray celebrates opening on Genolier Innovation Hub in Switzerland - Accuray announced the initiation of CyberKnife S7 System medical professional training at its education center located within the newly opened Genolier Innovation Hub, a fully-owned subsidiary of AEVIS VICTORIA SA, in Switzerland. As the first industry partner to have a presence at the hub, Accuray now offers product training, and facilitates sharing of best practices and innovative techniques, on both its CyberKnife and Radixact Radiation Treatment Delivery Systems. Accuray began hosting Radixact System educational courses earlier in 2024.
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DEFTF | Hot Stocks07:42 EDT DeFi subsidiary launches asset-backed ethereum physical stacking ETP - DeFi Technologies announces the introduction by its subsidiary, Valour Inc., and Valour Digital Securities Limited of its asset-backed Ethereum exchange traded products also known as exchange traded notes on the London Stock Exchange.
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STSS | Hot Stocks07:41 EDT Sharps Technology reminds shareholders to vote before Oct. 7 meeting - Sharps Technology is reminding shareholders to vote their proxy in favor of the Company's proposal before the shareholder meeting scheduled to be held on October 7, 2024 at 10:00 a.m. Eastern Time. "Please take a very important step to preserve your investment and to help ensure that Sharps Technology can continue to execute its business plan," said Robert M. Hayes, CEO. "We are asking you to vote today 'FOR' the reverse split of the Company's common stock so that we can regain compliance with NASDAQ's minimum bid price requirement and so that our common stock can remain listed on NASDAQ. This request is consistent with the letter that was included in the Proxy materials previously sent to investors by either email or mail. We acknowledge your support and approval at the July 15, 2024 special shareholder meeting for up to a 1-for-8 reverse stock split. Please note that we have not implemented the reverse stock split that was approved in July Based on recent communications and a hearing with NASDAQ, the Board of Directors has recommended and approved a further range for the reverse stock split of 1-for-8 up to 1-for-22 to provide the best opportunity to remain NASDAQ compliant in the long-term."
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ATHE | Hot Stocks07:40 EDT Alterity Therapeutics appoints Abby Macnish Niven as CFO - Alterity announced the appointment of Abby Macnish Niven as the Company's CFO. Macnish Niven has extensive experience in private wealth management with groups including ANZ, UBS and Ord Minett. Ms Macnish Niven consults to a range of listed and unlisted companies in governance, finance and corporate structure. Macnish Niven will replace Mr Phillip Hains, who supported Alterity as CFO from December 2023. Mr Hains continues as Company Secretary.
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USGO | Hot Stocks07:40 EDT U.S. GoldMining reports initial assay results for first two diamond drill holes - U.S. GoldMining announces initial assay results from the first two diamond drill holes completed of its 2024 drilling program at the Whistler Gold-Copper Project in Alaska, U.S.A., which commenced in late June 2024. The results reported in this news release include WH24-01 drilled within the Raintree West Open Pit Deposit and the re-entry extension of drill hole WH23-03 within the Whistler Deposit.
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VLCN | Hot Stocks07:39 EDT Volcon CEO John Kim releases video update on company developments - Volcon ePowersports announced that CEO John Kim has released a video update addressing some developments within the company.
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BHVN | Hot Stocks07:39 EDT Biohaven initiates trial studying BHV-2100 for treatment of migraines - Biohaven announced that it has initiated a pivotal Phase 2 study of the potential first-in-class, orally administered TRPM3 antagonist, BHV-2100, in the acute treatment of migraine. The pivotal Phase 2 study is a randomized, double-blind, placebo-controlled trial assessing the efficacy and safety of two doses of BHV-2100 in the acute treatment of migraine. The trial is designed to support registration with FDA-accepted coprimary endpoints of pain freedom and freedom from most bothersome symptom at 2 hours.
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GLPI | Hot Stocks07:38 EDT Gaming and Leisure Properties appoints Brandon Moore as president - Gaming and Leisure Properties announced the promotion of COO, Brandon Moore, to the additional role of President, effective immediately. Mr. Moore will continue to report to the Company's Chairman and CEO, Peter Carlino.
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ALT | Hot Stocks07:38 EDT Altimmune completes enrollment in Phase 2b IMPACT trial of pemvidutide - Altimmune announced completion of patient enrollment in IMPACT, its Phase 2b biopsy-driven trial evaluating pemvidutide in metabolic dysfunction-associated steatohepatitis and provided an update on additional development and regulatory initiatives related to pemvidutide. "We continue to make important advancements in the development of pemvidutide and are excited to have completed enrollment in the IMPACT trial, with top-line efficacy data expected in the second quarter of 2025," said Vipin K. Garg, CEO. "We are also excited to have received FDA confirmation of the End-of-Phase 2 meeting for our obesity program, which is scheduled for early November. Furthermore, we are planning to file INDs for Phase 2 studies of pemvidutide in up to three additional indications. These initiatives are expected to expand the differentiation of pemvidutide in the metabolic disease space and enhance its long-term value proposition." Altimmune also expects to file IND applications for pemvidutide in up to three additional indications with the first of these IND submissions in Q4 2024. The company plans to disclose details on these indications following alignment with the FDA. Preparations for the first trial are underway, with initiation planned for H1 2025.
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DCGO | Hot Stocks07:37 EDT DocGo appoints Stephen Klasko as chair - DocGo announced the appointment of Stephen Klasko as the new independent, non-executive chair of its board of directors, effective October 1. Klasko will fill the board vacancy created by the resignation of DocGo's outgoing chair of the board, Steven Katz. Klasko currently serves as a special advisor at leading venture capital firm General Catalyst, and as chief medical officer of Abundant Venture Partners.
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BBIO | Hot Stocks07:36 EDT BridgeBio completes enrollment of FORTIFY Phase 3 study of BBP-418 - BridgeBio Pharma announced, on LGMD Awareness Day, the completion of enrollment of FORTIFY, the Company's Phase 3 registrational study of BBP-418 in individuals with LGMD2I/R9. FORTIFY is a randomized, double-blind, placebo-controlled Phase 3 study evaluating the safety and efficacy of BBP-418, an investigational oral therapy in development for the treatment of individuals living with LGMD2I/R9. The study includes a planned interim analysis at 12 months focused on assessing glycosylated alphaDG as a surrogate endpoint to potentially support Accelerated Approval. The primary endpoint, to be evaluated at 36 months, is the North Star Assessment for limb-girdle type muscular dystrophies and is designed to provide confirmatory clinical data supporting the efficacy of BBP-418. A topline data readout from the interim analysis is expected in 2025.
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TRAW | Hot Stocks07:35 EDT Traws Pharma announces topline Phase 1 results for ratutrelvir - Traws Pharma announced topline Phase 1 results for its potential best-in-class COVID candidate, ratutrelvir, an oral inhibitor of the Main protease. "Topline data indicate that administration of ratutrelvir, our product candidate for COVID, as monotherapy, for 10 days to healthy volunteers, showed no treatment related adverse events and demonstrated consistent plasma drug levels in the predicted therapeutic window. We are especially pleased by ratutrelvir's ability to achieve plasma concentrations that are considerably above the EC90 against a comprehensive panel of SARS-CoV-2 viruses, without the need for ritonavir co-administration that can be a source of drug-drug interactions and potential severe side effects," said Werner Cautreels, CEO. "These data provide us with further indication that ratutrelvir has the potential to be a potent, best-in-class, once-a-day, single-dose, 10-day antiviral therapy for COVID. This profile contrasts with Paxlovid, an approved Mpro inhibitor, which requires co-administration of ritonavir, a metabolic inhibitor. We believe that ratutrelvir's ritonavir-free regimen has the potential to reduce the burden of treatment, especially for patients with underlying medical conditions. Based on the Phase 1 data, we have selected the dose for our Phase 2a study, expected to begin in H1 2025." The Phase 1 trial was designed as a randomized, double-blind, placebo-controlled study to assess the safety, tolerability, pharmacokinetics and pharmacodynamics of single- and multiple ascending doses of ratutrelvir, administered as a capsule formulation in 56 healthy, COVID-negative, adult volunteers, randomized three-to-one. The SAD portion of the study evaluated five ratutrelvir dose levels; the MAD segment evaluated two ratutrelvir dose levels, administered once daily for 10 days. This first-in-human study showed no treatment related adverse events reported up to the highest dose. Topline data also showed that once-daily administration of ratutrelvir maintained plasma drug levels within the predicted therapeutic window. Preclinical studies, presented at the annual International Conference on Antiviral Research in 2024 showed that ratutrelvir demonstrated differentiated activity compared to nirmatrelvir against a range of SARS-CoV-2 variants, based on a comparison of EC50 values.
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MMC | Hot Stocks07:34 EDT Marsh McLennan to acquire TIH affiliate McGriff Insurance Services for $7.75B - Marsh McLennan announced that it has reached an agreement through its Marsh McLennan Agency business to acquire McGriff Insurance Services an affiliate of TIH. Under the terms of the transaction, Marsh McLennan will pay $7.75B in cash consideration, funded by a combination of cash and proceeds from debt financing. In conjunction with the transaction, Marsh McLennan will assume a deferred tax asset valued at approximately $500 million. The transaction is targeted to close by year-end, subject to regulatory clearance and other standard closing conditions. Read Davis, CEO of McGriff added: "Marsh McLennan's global resources and insights will enable us to deliver even greater value to those we serve while creating exciting opportunities for the growth and development of our team. This combination is a reflection of the quality of the McGriff team, and I am excited for our future together."
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BTSG | Hot Stocks07:33 EDT BrightSpring Health appoints Steve Miller to board of directors - BrightSpring Health announced that Dr. Steve Miller was appointed as a Class II member of the Board of Directors. Dr. Miller will also serve as a member of the Board's Audit Committee and as the chair of the Board's Quality & Compliance and Governance Committee. Dr. Miller served as the Chief Clinical Officer for Cigna from 2018 to 2022, transitioning to an expert advisor role in 2022 for Cigna's efforts across clinical policy, quality, and performance programs.
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ZENA | Hot Stocks07:32 EDT ZenaTech announces approval to list shares on Nasdaq Capital Market - ZenaTech announced that its common shares are approved for listing on the Nasdaq Capital Market under the ticker symbol "ZENA". ZenaTech's common shares are expected to commence trading on October 1st, 2024.
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MRMD | Hot Stocks07:31 EDT Marimed's Betty's Eddies partners with Keep A Breast Foundation - Betty's Eddies announced its second annual collaboration with the Keep A Breast Foundation to continue advancing breast cancer awareness education and supporting the millions of people affected by the disease. The initiative includes redesigned product packaging and a campaign to foster KAB's mission of reducing breast cancer risk through education, with a focus on early detection. Betty's Eddie's all-natural, cannabis fruit chews, handcrafted to suit a variety of specific effects, is one of the brands produced and distributed by multi-state cannabis operator, MariMed. To commemorate the campaign and raise visibility for KAB's mission, Betty's Eddies will once again launch a limited-time, redesigned pink package for its fan-favorite Ache Away Eddies fruit chews. The packaging, which will be available for a limited time in Massachusetts, Maryland, Illinois, and Delaware, will help promote the KAB app. Available on the Apple and Google Play Stores, it offers education about and advocacy for self-checking and immediately connects users to medical professionals when necessary. The cherry-flavored Ache Away Eddies fruit chew, infused with CBD, CBC, and THC, plus turmeric, piperine, and vitamin E, may help ease inflammation and aid recovery.
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MRNA | Hot Stocks07:30 EDT Moderna doses first participant in Phase 3 trial of mRNA-1403 - Moderna announced that the first participant in the U.S. has been dosed in the Nova 301 Trial, a pivotal Phase 3 randomized clinical trial evaluating the efficacy, safety, and immunogenicity of an investigational norovirus vaccine, mRNA-1403. Global recruitment for the Nova 301 trial has also begun. The Nova 301 Phase 3 trial is a randomized, observer-blind, placebo-controlled trial evaluating the efficacy, safety and immunogenicity of mRNA-1403. The trial aims to enroll approximately 25,000 participants 18 years of age and older globally, including in countries in the Northern Hemisphere, the equatorial region, and the Southern Hemisphere. Approximately 20,000 participants 60 years of age and older and 5,000 participants between 18 and 59 years of age will be enrolled to assess the investigational vaccine's ability to protect against moderate to severe norovirus acute gastroenteritis in adults, with a focus on the older age group that is at greatest risk of severe outcomes including hospitalization. mRNA-1403 is an mRNA vaccine in development to prevent moderate to severe acute gastroenteritis caused by norovirus. The vaccine candidate is a trivalent formulation containing mRNA that encodes for virus-like particles designed to protect against multiple norovirus genotypes.
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ELVA | Hot Stocks07:28 EDT Electrovaya, Innovative Rail Technologies enter supply agreement - Electrovaya announced the establishment of a Strategic Supply Agreement with Innovative Rail Technologies. The Agreement will initially cover the supply of Electrovaya's Infinity battery systems for IRT's electric locomotive systems. IRT is focused on the electrification of locomotives to battery electric through its proprietary advanced technology lithium-ion adaptive system, a turnkey, scalable propulsion and control package customized to the unique needs of customer operations. IRT has a strong pipeline of orders targeting applications in industrial operations, short line railroads, ports, defense and commuter rail.
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SVCO | Hot Stocks07:26 EDT Silvaco appoints Candace Jackson as general counsel, corporate secretary - Silvaco Group announced the appointment of Candace Jackson as Senior Vice President, General Counsel and Corporate Secretary, effective September 23, 2024. As SVP, General Counsel and Corporate Secretary of Silvaco, she will provide strategic, business-centric, cross-border legal advice across the full spectrum of legal issues while also playing a pivotal role in supporting Silvaco's continued global expansion and innovation initiatives. Before joining Silvaco, Ms. Jackson served as Deputy General Counsel of global semiconductor design firm Synaptics Incorporated.
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GILT | Hot Stocks07:19 EDT Gilat Satellite receives multimillion service contract from satellite operator - Gilat Satellite Networks has secured a Multimillion contract extension to provide services for a leading satellite operator in the Asia-Pacific region for an additional period of 12 months. The extended agreement highlights Gilat's continued support in managing and maintaining the operator's satellite communications infrastructure. Through this contract extension, Gilat will continue to ensure enhanced network performance and reliability for the operator's service coverage.
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GANX | Hot Stocks07:18 EDT Gain Therapeutics presents Phase 1 GT-02287 data - Gain Therapeutics announced the presentation of a late-breaking abstract at the International Congress of Parkinson's Disease and Movement Disorders. The poster and oral platform presentation summarize the safety, tolerability, pharmacokinetics, and pharmacodynamics of single- and multiple-ascending doses of GT-02287, the Company's clinical stage lead drug candidate, in a Phase 1 first-in-human study in healthy volunteers. The International Congress of Parkinson's Disease and Movement Disorders is being held September 27 - October 1 in Philadelphia, PA. "The fact that we saw an increase in GCase activity in healthy volunteers, who we assume have homeostatic mechanisms to counter-regulate a pharmacologically-induced increase in GCase enzymatic activity, indicates that it will have more pronounced effect on GCase in people with Parkinson's disease and further confirms our conviction that GT-02287 may be able to slow or stop the progression of PD. We hope that one day we can deliver this drug to those that need it and help them improve their everyday quality of life," commented Jonas Hannestad, M.D., Ph.D., Chief Medical Officer of Gain. The late-breaker, titled, "The novel glucocerebrosidase chaperone GT-02287 in development for GBA-PD is safe and well tolerated in healthy volunteers at oral doses that produce plasma exposures in the projected therapeutic range," was presented on-site by Jonas Hannestad and included results from the Phase 1 study of GT-02287. The single and multiple dose levels tested were safe and generally well tolerated, with no serious adverse events or Grade 3 adverse events observed, and no other safety signals detected. The PK profile of GT-02287 was linear across the tested dose ranges, and plasma exposures at daily doses of 7.7 mg/kg and above were within the projected therapeutic range. GT-02287 was measurable in cerebrospinal fluid at levels in line with rodent levels at effective doses, demonstrating CNS exposure. Notably, GCase activity in dried blood spots increased approximately 30% in subjects who received GT-02287 but not in those who received placebo, demonstrating target engagement and modulation of GCase enzyme. GCase activity continued to increase 12 hours post-dose at 14 days, the furthest time point analyzed in the study. These results support the continued development of GT-02287 and its potential as a disease-modify treatment for Parkinson's disease.
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NRIX | Hot Stocks07:16 EDT Nurix Therapeutics announces presentations at Discovery on Target - Nurix Therapeutics announced three oral presentations at the 22nd Annual Discovery on Target conference, being held September 30 - October 3, 2024, in Boston, MA. Poster Presentation Details: Title: Rational Discovery of a Small Molecule Intramolecular Glue Inhibitor of CBL-B that Enhances T-cell Function: Description: Casitas B lymphoma-b is a RING-type E3 ubiquitin ligase that plays an important role in regulating T cell function. Loss of CBL-B is associated with enhanced T and NK cell activity which makes it an interesting target for immuno-oncology drug development. We present a rational approach to discover and optimize small molecule inhibitors for CBL-B that elicit a potent T cell activation and antitumor activity. Title: The Evolving Chemical Space of Bi-functional Degraders Targeting the CNS: Description: Bi-functional degraders occupy beyond-rule-of-five chemical space where established rules for drug-likeness cannot easily be applied. In contrast to approved CNS drugs, bi-functional degraders violate most metrics, particularly molecular weight, yet we routinely observe brain penetrance in our programs. For example, NX-5948, a clinical stage orally bioavailable BTK degrader shows CNS exposure and activity both preclinically and clinically. This presentation will explore our evolving understanding of targeting the CNS using degraders. Title: Screening DNA Binding Proteins with DNA Encoded Libraries: Description: Transcription factors are historically a challenging target class to drug. Although DNA-encoded libraries have become a staple for ligand discovery, transcription factors and other proteins that specifically bind DNA present distinct challenges for DEL technology. Nurix has developed a broadly applicable approach for applying affinity selection and informatic methods to transcription factors, and these methods have yielded tractable hits for the EWS-FLI1 fusion oncoprotein.
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TNXP | Hot Stocks07:15 EDT Tonix Pharmaceuticals participates in Endpoints panel at RECOVER workshop - Tonix Pharmaceuticals announced that Seth Lederman M.D., Chief Executive Officer of Tonix Pharmaceuticals, participated in the "Endpoints" panel at the RECOVER Treating Long COVID - Navigating the Pathway Forward workshop hosted by the Foundation for the National Institutes of Health and National Institute of Allergy and Infectious Diseases. held September 23-25, 2024, in Bethesda, Md. The panel, titled "Endpoints," focused on clinical trial endpoints that could provide meaningful data to support regulatory approval of potential Long COVID therapeutics. "We were honored to be invited to participate in the Long COVID workshop to discuss the progress of the RECOVER study and to plan the path forward for developing drugs to treat Long COVID," said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. "We welcomed the opportunity to share lessons from our development of TNX-102 SL for Fibromyalgia-type Long COVID, and also for fibromyalgia for which we expect to submit the New Drug Application to the U.S. Food and Drug Administration in October. Given the urgency of the Long COVID situation, I recommended that the RECOVER-TLC team dialogue with FDA about validating Patient Global Impression of Change as a primary endpoint for therapeutics trials in the context of Chronic Fatigue Syndrome/Myalgic Encephalomyelitis-type Long COVID. FDA has already recognized PGIC as a potential endpoint in their recent draft guidance on patient-reported outcomes. I believe the development of Long COVID drugs should emulate the highly successful regulatory pathway established for cancer drugs. I believe PGIC has the potential to be for Long COVID, what Progression-Free Survival has been for new cancer drugs. There are several conceptual similarities that lead me to believe PGIC also could be an appropriate endpoint for accelerated approvals for CFS/ME and Long COVID drugs."
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SATS | Hot Stocks07:13 EDT EchoStar announces suit of transformative transactions - EchoStar Corporation announced a suite of transformative transactions, including: an agreement to sell DISH DBS Corporation to DIRECTV ; the receipt of approximately $2.5 billion in new financing from TPG Angelo Gordon and certain co-investors at DBS to address its November 2024 debt maturity and provide interim liquidity; various exchange offers to DBS bondholders providing the opportunity for its stakeholders to support the combination of the DBS and DIRECTV business and roll into the attractive combined credit; a comprehensive financing solution and balance sheet optimization transaction at EchoStar through
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RDHL | Hot Stocks07:12 EDT RedHill Biopharma announces new U.S. coronavirus patent for opaganib - RedHill Biopharma announced the issue of a new U.S. patent for identification of a novel biomarker of coronavirus pneumonia prognostic for potential opaganib efficacy in treating COVID-19, valid through 2041. Guy Goldberg, RedHill's Chief Business Officer, said: "This exciting new patent is based on compelling published post-hoc data from opaganib's Phase 2/3 study, showing that patients with less than or equal to60% FiO2 levels had better outcomes after 14 days' opaganib treatment. These outcomes included an increase in patients no longer requiring supplemental oxygen by day 14 of opaganib treatment, a reduction in patients requiring intubation/mechanical ventilation and a clinically meaningful 62% reduction in mortality. This is a very interesting addition to the already strong patent portfolio protecting opaganib."
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PRME BMY | Hot Stocks07:11 EDT Prime Medicine unveils strategically focused pipeline - Prime Medicine (PRME) announced that it is focusing its pipeline on a set of high value programs, each targeting a disease with well-understood biology and a clearly defined clinical development and regulatory path, and each expected to provide the foundation for expansion into additional opportunities. Prime Medicine will focus on the development of two programs for the treatment of chronic granulomatous disease, which together have the potential to address the vast majority of people living with CGD: PM359, an ex vivo autologous hematopoietic stem cell product for the treatment of p47phox CGD; Ex vivo HSC product for the treatment of X-linked CGD. Prime Medicine announced its first follow-on program in hematology and immunology. Building on its efforts in p47phox CGD, Prime Medicine is advancing a program for X-linked CGD, which utilizes its Prime Assisted Site-Specific Integrate Gene Editing technology, and is expected to address over 90 percent of known mutations in the CYBB gene with a single approach. As announced this morning, Prime Medicine entered into a strategic research collaboration and license agreement with Bristol Myers Squibb (BMY). rime Medicine is focused on advancing its Wilson's Disease program, which targets prevalent mutations in the ATP7B gene. Prime Medicine expects to present new preclinical data and initiate IND-enabling activities for this program in the fourth quarter of 2024, and intends to file an IND and/or clinical trial application in the first half of 2026. With funding from the Cystic Fibrosis Foundation, Prime Medicine is continuing to advance two strategies to potentially cure CF: hotspot editing and PASSIGE. Using hotspot editing, the Company aims to address multiple mutations at mutational hotspots with a small number of Prime Editors; using PASSIGE, the Company aims to address nearly all people with CF with a single superexon insertion strategy. In order to pursue its prioritized high value programs as rapidly as possible, the Company is identifying partnership opportunities to advance its other programs, including those for neurological diseases, cell therapy, ocular diseases and hearing loss. Prime Medicine expects that business development will continue to play a critical role in accelerating and funding its pipeline, allowing the Company to maximize the potential and reach of Prime Editing, including in areas outside its core focus. Prime Medicine may also choose to advance these programs through internal efforts in the future. As a result of this strategic pipeline prioritization, Prime Medicine will streamline its operating expenses and capital expenditures. Together with the $110 million upfront consideration received from Bristol Myers Squibb under the strategic research collaboration and license agreement announced this morning, Prime Medicine expects its cash runway to fund operations into the first half of 2026.
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SATS | Hot Stocks07:11 EDT DIRECTTV to acquire EchoStar's video distribution business - DIRECTV and EchoStar announced that they have entered into a definitive agreement under which DIRECTV will acquire EchoStar's video distribution business DISH DBS, including DISH TV and Sling TV, through a debt exchange transaction. The combination of DIRECTV and DISH will benefit U.S. video consumers by creating a more robust competitive force in a video industry dominated by streaming services owned by large tech companies and programmers. The transaction will provide consumers with compelling video options while separately improving EchoStar's financial profile as it continues to enhance and further deploy its nationwide 5G Open RAN wireless network.
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MRCY BA | Hot Stocks07:10 EDT Mercury Systems, Boeing sign contract for FPGA processor boards - Mercury Systems, Inc. (MRCY) signed a contract with Boeing (BA) to deliver FPGA processor boards that will support an upgraded refueling system on the U.S. Air Force's KC-46A tanker aircraft fleet. Mercury's SCFE3920 boards are an integral part of the next-generation KC-46A Remote Vision System 2.0. Designed for high-speed data processing and seamless system integration, Mercury's boards will connect directly to cameras on the plane to process the high-resolution, color video feeds that provide KC-46A operators with a clear and precise view of the refueling process.
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DTIL | Hot Stocks07:10 EDT - Precision BioSciences announced that the company submitted Clinical Trial Applications CTA to initiate a Phase 1 study evaluating PBGENE-HBV. PBGENE-HBV is the Companys wholly owned in vivo gene editing program designed to potentially cure chronic hepatitis B virus HBV by eliminating cccDNA, the key source of replicating hepatitis B virus, while also inactivating integrated HBV DNA in hepatocytes... Our comprehensive regulatory package, supported by robust non-human primate NHP safety studies, the gold standard model for predicting safety in humans, and efficacy in numerous preclinical models of hepatitis B including in NHPs enables us to proceed with planned regulatory submissions in multiple markets around the world. We recently bolstered our clinical team expertise while building a world class hepatitis scientific advisory board to assist in guiding execution of our global Phase 1 trial. Our goal is clear, to generate robust clinical data for the patients afflicted with hepatitis B who are counting on us to significantly increase their chance of achieving a functional cure. ...Precision is on track to submit additional regulatory applications as part of its global Phase 1 regulatory strategy for PBGENE-HBV. The next update on the PBGENE-HBV program is expected to take place before the American Association for the Study of Liver Diseases AASLD Annual Meeting in November. Details about how to participate in the update will be provided in advance.
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DTIL | Hot Stocks07:10 EDT - Precision BioSciences announced that the company submitted Clinical Trial Applications CTA to initiate a Phase 1 study evaluating PBGENE-HBV. PBGENE-HBV is the Companys wholly owned in vivo gene editing program designed to potentially cure chronic hepatitis B virus HBV by eliminating cccDNA, the key source of replicating hepatitis B virus, while also inactivating integrated HBV DNA in hepatocytes... Our comprehensive regulatory package, supported by robust non-human primate NHP safety studies, the gold standard model for predicting safety in humans, and efficacy in numerous preclinical models of hepatitis B including in NHPs enables us to proceed with planned regulatory submissions in multiple markets around the world. We recently bolstered our clinical team expertise while building a world class hepatitis scientific advisory board to assist in guiding execution of our global Phase 1 trial. Our goal is clear, to generate robust clinical data for the patients afflicted with hepatitis B who are counting on us to significantly increase their chance of achieving a functional cure. ...Precision is on track to submit additional regulatory applications as part of its global Phase 1 regulatory strategy for PBGENE-HBV. The next update on the PBGENE-HBV program is expected to take place before the American Association for the Study of Liver Diseases AASLD Annual Meeting in November. Details about how to participate in the update will be provided in advance.
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TTEC | Hot Stocks07:09 EDT TTEC Holdings receives unsolicited proposal from CEO to be taken private - TTEC Holdings announced that its Board of Directors has received an unsolicited, preliminary, non-binding proposal letter, dated September 27, 2024, from TTEC founder, Chairman and Chief Executive Officer Kenneth Tuchman, to take the Company private at a proposed purchase price of $6.85 per share to the Company's other shareholders. Tuchman beneficially owns approximately 58% of the Company's common stock. The Company's Board of Directors has established a Special Committee consisting of independent directors. The Special Committee with its own advisors will evaluate the proposal and determine the appropriate course of action and process.
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BCRX | Hot Stocks07:09 EDT BioCryst awarded $69M RAPIVAB contract by U.S. government - BioCryst Pharmaceuticals announced that the U.S. Department of Health and Human Services has awarded BioCryst up to a $69 million contract for the procurement of up to 95,625 doses over a five-year period of RAPIVAB for the treatment of influenza. The contract, awarded by the HHS Office of the Administration for Strategic Preparedness and Response, will supply the Center for the Strategic National Stockpile, the nation's largest supply of life-saving pharmaceuticals and medical supplies for use in a public health emergency. The contract is structured with a 12-month base ordering period and four optional 12-month ordering periods, which the government can exercise on an annual basis. ASPR has executed the first ordering period for $13.9 million and BioCryst plans to supply 19,125 doses to fulfill this option between now and September 29, 2025.
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EVGN | Hot Stocks07:08 EDT Evogene receives grant from IIA to advance development of 'MicroFermentor' - Lavie Bio announced receiving a grant from the Israel Innovation Authority, IIA, to advance its program to develop a breakthrough technology for the delivery of ag-biologicals to agriculture. This patented technology, named 'MicroFermentor', is based on an innovative microbe formulation that enables the multiplication of beneficial bacteria directly on the plant, reducing application costs, extending shelf life, and prolonging the bacteria's viability after field application. The grant was awarded following positive initial microbe encapsulation and greenhouse validation experiments and will support the program's next phase of development toward commercialization.
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PRME BMY | Hot Stocks07:08 EDT Prime Medicine announces collaboration, license agreement with Bristol Myers - Prime Medicine (PRME) announced a strategic research collaboration and license agreement with Bristol Myers Squibb (BMY) to develop reagents for the next generation of ex vivo T-cell therapies. Under the terms of the agreement, Prime Medicine will design optimized Prime Editor reagents for a select number of targets, including reagents that use its Prime Assisted Site-Specific Integrase Gene Editing technology. Bristol Myers Squibb will be responsible for development, manufacturing and commercialization of the next generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development. "We are excited to collaborate with Bristol Myers Squibb, a global leader in cell therapy for hematology, immunology, and oncology. Through this effort, we will apply our Prime Editing technology beyond the rare genetic diseases in our internal pipeline, potentially unlocking opportunities in areas of high unmet needs in immunological diseases and cancer," said Keith Gottesdiener, M.D., President and CEO of Prime Medicine. Under the terms of the agreement, Prime Medicine will receive a $55M upfront payment and a $55M equity investment from Bristol Myers Squibb. Prime Medicine is also eligible to receive more than $3.5B in milestones, including up to $1.4 billion in development milestones and more than $2.1B in commercialization milestones, along with royalties on net sales.
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AEHL | Hot Stocks07:08 EDT Antelope Enterprise Holdings aims to launch energy supply business in Q3 - The company said, "We own a majority position of a livestreaming ecommerce business, Hainan Kylin Cloud Services Technology, and aim to launch an energy supply business in the third quarter of 2024. Kylin Cloud's SaaS+ systems platform strategically matches hosts and influencers to consumer brand products which results in increased sales for these companies. In the last few years, livestreaming ecommerce has comprised an ever-increasing percentage of China's ecommerce sales which we expect to continue in the years ahead, spurred by a consumer ecosystem that includes a young demographic and their high usage rate of mobile devices. We believe that Kylin Cloud is unique in the livestreaming space since it utilizes advanced analytics that matches hosts and influencers to consumer brand products which facilitates unique content for higher conversion rates as compared to traditional ecommerce. In the current period, the business strategy of the livestreaming business was modified to focus on securing a larger number of mid-tier clients to mitigate the risk associated with an over-concentration of major clients. Since some of these new clients are still in the beginning stages of collaboration and their business volume has just started to grow, it will take time for the new mid-tier clients to develop and increase their sales volume. In the first half of 2024, the livestreaming business had business engagements with more than 70 clients, which represented an increase of nearly 20 clients compared to the same period in 2023. In an important strategic development for the Company, we recently announced plans to enter the energy field through the production of electricity using natural gas generators in Texas. This electricity would then be transmitted directly to rapidly growing computing power sectors who require high amounts of energy. Compared to conventional methods, this model eliminates intermediary steps like transmission to the power grid and processing by public utilities, which could result in lower energy losses and higher efficiency. Given the strong market demand of computing power industries, the Company believes it has a runway for significant growth in the near future. This business outlook reflects the Company's current and preliminary views and is based on the information currently available to us, which are subject to change, and is subject to risks and uncertainties, as well as risks and uncertainties identified in the Company's public filings."
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NRXP | Hot Stocks07:07 EDT NRx Pharmaceuticals announces completion of 12 months of stability of NRX-100 - NRx Pharmaceuticals announced that twelve-month real-time stability on the first manufactured lot of NRX-100 at Nephron Pharmaceuticals, utilizing commercial scale processes, was reached on September 24, 2024. In this process, no degradation of the active ingredient was observed. These findings are consistent with projected room temperature shelf stability in excess of three years. Accelerated stability on additional manufactured lots of preservative-free product is congruent with stability seen in this initial lot. Demonstrating the ability to manufacture drug product, and prove its stability, are critical components of the drug approval process with the US FDA. Filing of the NDA for NRX-100 is on track for 2024. The NRX-100 formulation is the first sterile, single dose vial prepared with without the addition of preservatives, which may have toxic effects with repeated use.
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LPTX | Hot Stocks07:06 EDT Leap Therapeutics completes enrollment in Part B of DeFianCe study - Leap Therapeutics announced that enrollment of 188 patients has been completed in the randomized controlled Part B of the DeFianCe study evaluating DKN-01, Leap's anti-Dickkopf-1 antibody, in combination with standard of care bevacizumab and chemotherapy as a second-line treatment for patients with advanced colorectal cancer, CRC. "The completion of enrollment in Part B of the DeFianCe study marks a significant achievement and highlights the enthusiasm in the potential of DKN-01 from both patients and healthcare providers," said Cynthia Sirard, M.D., Chief Medical Officer of Leap. "The encouraging data from Part A of the study which showed clinically meaningful response rates and durable tumor reductions, as well as a favorable safety profile in advanced CRC patients, provides a strong foundation to the expanded Part B of the study. We look forward to sharing initial data from Part B, including the subpopulation of patients with left-sided CRC, in mid 2025."
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GOGO | Hot Stocks07:04 EDT Gogo to acquire Satcom Direct for $375M in cash, 5M shares - Gogo and Satcom Direct announced entry into a definitive agreement under which Gogo will acquire Satcom Direct to create the only in-flight connectivity provider able to satisfy the performance and cost needs of every segment of the global business aviation and military/government mobility markets. Under the terms of the agreement, Satcom Direct will receive $375 million in cash and five million shares of Gogo stock at closing, and up to an additional $225 million in payments tied to realizing certain performance thresholds over the next four years.
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VOR | Hot Stocks07:04 EDT Vor Bio names Han Choi as CFO - Vor Bio announced the appointment of Han Choi, M.D., LL.M., as its new CFO effective immediately. Dr. Choi will join the Vor Bio leadership team and will report directly to the company's President and CEO. Dr. Robert Ang. Prior to joining Vor Bio, Dr. Choi was a Principal at Oracle Investment Management, Inc., a hedge fund that specializes in healthcare investments.
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ACET | Hot Stocks07:03 EDT Adicet Bio opens enrollment for ADI-001 - Adicet Bio announced the opening of enrollment for the Phase 1 clinical trial evaluating ADI-001 in autoimmune diseases. This announcement follows the FDA decision to grant Fast Track Designation to ADI-001 for the treatment of relapsed/refractory class III or class IV LN and clearance from the FDA to develop ADI-001 in four autoimmune indications, including LN, SLE, SSc, and AAV. The Phase 1 study has three separate arms, enrolling LN and SLE patients into one arm, SSc patients into a second arm and AAV patients into a third arm. Enrolled patients will receive a single dose of ADI-001. The dose-limiting toxicity window is 28 days with response and safety assessments conducted on Day 28 and during the follow up period on months 3, 6, 9, 12, 18 and 24. The primary objectives of the study are to evaluate the safety and tolerability of ADI-001. Secondary objectives include measuring cellular kinetics, pharmacodynamics, changes in autoantibody titers, and appropriate disease activity scores in each indication.
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VZ DBRG | Hot Stocks07:02 EDT Verizon, Vertical Bridge agree to $3.3B tower transaction - Verizon Communications and Vertical Bridge announced they have entered into a definitive agreement for Vertical Bridge to obtain the exclusive rights to lease, operate and manage 6,339 wireless communications towers across all 50 states and Washington, D.C. from subsidiaries of Verizon for approximately $3.3 billion, including certain commercial benefits. The transaction is structured as a prepaid lease with upfront proceeds of approximately $2.8 billion in cash. Under the terms, Verizon will enter into a 10-year agreement1 to lease back capacity on the towers from Vertical Bridge, serving as the anchor tenant, with options that could extend the lease term up to 50 years. Verizon will also have access to certain additional space on the towers for its future use, subject to certain restrictions. This agreement, along with Verizon's existing build-to-suit joint venture with Vertical Bridge, will support Verizon's efforts to drive down tower-related costs and provide greater vendor diversity in a concentrated industry. DigitalBridge, a leading global alternative asset manager dedicated to investing in digital infrastructure and majority owner of Vertical Bridge, has committed capital to support the transaction. CDPQ, a global investment group and an important shareholder of Vertical Bridge since 2019, also committed capital to finance this transaction. The transaction is expected to close by the end of 2024, subject to customary closing conditions.
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SITC | Hot Stocks07:00 EDT Site Centers provides transaction, Curbline balance sheet - SITE Centers provided an update on transaction activity along with updated projected Curbline Properties balance sheet information. From September 17, 2024 to September 27, 2024, SITE Centers sold 11 wholly owned properties for an aggregate gross price of $610.1 million. As a result of disposition activity, Curbline is now expected to be capitalized with $800 million of cash at the time of the spin-off in addition to a $400 million undrawn, unsecured line of credit, a $100 million unsecured, delayed draw term loan and no indebtedness. As previously announced, the distribution of the shares of Curbline common stock is expected to be completed at 12:01 a.m. Eastern Time on October 1, 2024. Following such distribution, Curbline will be an independent, publicly traded company listed on the New York Stock Exchange under the ticker symbol "CURB". SITE Centers shareholders will receive two shares of Curbline common stock for every one common share of SITE Centers held at the close of business on the record date of September 23, 2024.
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AUUD | Hot Stocks06:59 EDT Auddia doubles number of stations on faidr mobile app - Auddia has grown its total available stations within the faidr app to over 13,000 AM/FM stations, more than 9,000 of which are ad-free for subscribers. In addition to doubling its available stations in faidr, Auddia recently introduced two podcast features: Forward+ and Chapter Visualization, enhancing the podcast listening experience. Forward+ allows users to skip entire segments with a single touch, while Chapter Visualization displays segment breaks within the progress bar, making navigation more intuitive. These industry-first features offer listeners a more efficient and intelligent way to engage with their favorite podcasts. Auddia will be releasing a new music-only AI model in Q4 that will give faidr users the choice of listening to only music on their favorite music focused AM/FM stations. Also in Q4, the Company will be releasing its first gamification features in the app.
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ACM | Hot Stocks06:58 EDT Aecom names Jill Hudkins chief executive, Water & Environment Advisory line - AECOM has appointed Jill Hudkins as chief executive of its new Water & Environment Advisory global business line. The appointment of Ms. Hudkins and the formation of the new advisory business mark key milestones in the Company's growth strategy, which is built on extending AECOM's competitive advantage by drawing on its technical leadership and strong client relationships to develop complementary, high-value businesses. The Water & Environment Advisory global business line will focus on advising clients to strategically guide them through the lifecycle of their largest and most complex water and environmental management challenges. Leveraging AECOM's existing number one water, environmental engineering and environmental science businesses, as ranked by Engineering-News Record, the new advisory business will expand the Company's capabilities in high growth areas, such as advanced digital water asset management and automation, environmental permitting, per- and polyfluoroalkyl substances remediation and emerging opportunities for water solutions in high-tech environments. Hudkins previously served as President at Tetra Tech with more than 25 years of experience spanning several operational and strategic leadership roles at the firm
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WNC | Hot Stocks06:56 EDT Wabash convenes Ignite 2024 for transportation, logistics, distribution industry - Wabash is convening more than 300 leaders from the transportation, logistics, and distribution sectors this week at Ignite 2024 to discuss the challenges and transformative opportunities facing their industry. Taking place today through Wednesday in Louisville, Ky., Ignite 2024 is the premier thought leadership event for Wabash's ecosystem of customers, dealers, suppliers, technology partners, researchers and industry experts, fostering powerful collaborations that will shape the future. Throughout Ignite 2024, experts will lead sessions addressing critical challenges, trends, and innovations, with a focus on themes such as the integration of connected and autonomous technologies, the electrification of trailers, sustainable practices in freight mobility, strategies to enhance cold chain logistics, transforming B2B relationships into strategic partnerships, fostering people-first work cultures, navigating market complexities, and harnessing digital advancements for a more connected and efficient ecosystem.
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WRLGF | Hot Stocks06:55 EDT West Red Lake acknowledges Truth and Reconciliation Day - West Red Lake Gold Mines acknowledges those who were lost and those who survived residential schools, as well as their families and communities. Through implementing the Truth and Reconciliation Corporate Calls to Action, the Company is striving to be a leader in economic reconciliation. "Actively working to see the truth of Canada's treatment of First Nations and finding ways to reconcile and heal are essential and we keenly embrace the Corporate Calls to Action at West Red Lake Gold," said Shane Williams, President and CEO. "While we wear orange as protective, reflective gear every day, the Orange T-Shirt is impactful to the WRLG team in how it grew out of a youth led, grass roots movement to illustrate the resilience of the survivors of residential schools, who had to fight the stripping away of culture, freedom and self-esteem." The Company's Madsen Mine and Rowan projects are within Treaty #3 and the traditional territories of Lac Seul and Wabauskang First Nation, with whom West Red Lake Gold has a Project Partnership Agreement in place to guide relations.
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ONIT | Hot Stocks06:52 EDT Onity Group announces multiple transactions to accelerate capital restructuring - Onity Group announced multiple transactions to accelerate its ongoing capital restructuring plans. On September 30, 2024, Onity entered into definitive agreements with funds managed by Oaktree Capital Management to amend the agreements between the Company and Oaktree to provide for the following: The Company will sell its 15% interest in MSR Asset Vehicle to Oaktree for a cash payment equal to adjusted book value upon closing plus $15M, subject to certain adjustments. The total cash proceeds to be received by Onity upon consummation of the sale is currently expected to be approximately $49M. The MAV Sale is expected to close in the fourth quarter of 2024 and is subject to certain closing adjustments and conditions, including regulatory approval, consummation of a debt financing that meets certain criteria to refinance all the outstanding PHH Mortgage Corporation 7.875% Senior Secured Notes due 2026 and other customary conditions. The Company will remain the exclusive subservicer of the existing MAV portfolio, which had an unpaid principal balance of $52B as of August 31, 2024, for an initial term of five years and will subservice the majority of new MSRs acquired by MAV. MAV will also be subject to certain restrictions on near-term MSR sales for 36 months following the closing of the MAV sale. Oaktree will waive the make-whole premium, which is currently due in connection with any optional redemption of senior secured notes due 2027 issued by Onity. on or prior to March 4, 2026, in connection with the redemptions. The Company expects to redeem at least $150M of Onity Notes during the fourth quarter of 2024 in accordance with the following requirements. The Company is required to redeem a principal amount of Onity Notes equal to the proceeds from the MAV Sale at a redemption price equal to par plus accrued interest, and the proceeds from the MAM asset acquisition described below and the proceeds from any debt financing secured by the assets so acquired, the proceeds from the securitization transaction, and any remaining proceeds from a Debt Financing after refinancing the PMC Notes, in each case, at a redemption price equal to 102.5% plus accrued interest. In addition, the Company will have the option to redeem up to an additional $50M principal amount of Onity Notes from other liquidity sources at a redemption price equal to 102.5% plus accrued interest. Oaktree has also agreed to participate as an anchor investor in a Debt Financing depending upon the size and pricing of the financing. Pursuant to the transaction agreement, upon pricing of a Debt Financing, the Warrants held by Oaktree will be amended to provide that upon their exercise the holders of the Warrants can elect the cash exercise option only with the consent of Onity and, without the consent of Onity, the exercise price can only be paid via the net share settlement option. Onity has agreed to pay Oaktree a transaction fee in consideration of the above transactions that is estimated to be up to approximately $16M depending on the size and pricing of the Debt Financing and certain other conditions. As previously announced, on July 26, 2024, Onity and PMC entered into a letter of intent with Waterfall Asset Management to acquire substantially all assets of Mortgage Assets Management with an estimated aggregate net asset value of approximately $55M. In consideration of the acquired assets, Onity intends to issue to Waterfall non-convertible, perpetual preferred stock with an aggregate liquidation preference of approximately $52.7M. The Company expects total cash from the transaction and future debt refinancing secured by the mortgage assets acquired from MAM will be approximately $46M. The Company continues to expect the transaction to be accretive to earnings and cash flow immediately upon closing, strengthen its position in reverse servicing, provide incremental asset management opportunities and improve its capital structure. Onity expects to complete the MAM asset acquisition during the fourth quarter of 2024, subject to the receipt of regulatory approvals and other customary closing conditions. On September 13, 2024, PMC completed the acquisition of reverse mortgage assets from a large financial institution and simultaneously securitized those and additional assets. To date, this transaction has resulted in $46.1M of liquidity to PMC. On September 30, 2024, Onity sold a portfolio of Fannie Mae and Freddie Mac MSRs to a third party. The sale transaction, expected to be completed by close of business September 30, 2024, will result in a $73.4M reduction of the Company's MSR debt and the receipt of cash proceeds of approximately $26.5M, which Onity intends to use to pay down corporate debt. On September 18, 2024, PMC purchased and cancelled $23.5M of PMC Notes at a discount to par as part of the Company's deleveraging strategy.
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TEL | Hot Stocks06:48 EDT TE Connectivity completes incorporation change - TE Connectivity completed the change in the place of incorporation of the publicly traded parent company of TE Connectivity from Switzerland to Ireland. The change in place of incorporation resulted in each shareholder of TE Connectivity receiving one share of TE Connectivity plc, a company incorporated under the laws of Ireland, for each share of TE Connectivity held immediately prior to the change in incorporation. The company will continue to be a U.S. Securities and Exchange Commission reporting company and its ordinary shares will continue to trade on the New York Stock Exchange under the symbol TEL.
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DSGX | Hot Stocks06:47 EDT Mitchell Companies uses Descartes' route planning, execution platform - Descartes Systems Group announced that Mississippi-based Mitchell Companies is using Descartes' route planning and execution platform to enhance customer service across six locations in three states through more effective routing, improved driver performance and better visibility into sales and distribution operations.
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DHC BKD | Hot Stocks06:46 EDT Diversified Healthcare Trust enter purchase, sale agreement with Brookdale - Diversified Healthcare Trust (DHC) has entered into a purchase and sale agreement with Brookdale Senior Living Inc. (BKD) whereby Brookdale will acquire 18 triple net leased senior living communities that Brookdale currently leases from DHC for $135 million. Brookdale has leased and operated these 18 communities since February 2003. The 18 communities include 876 units located across 10 states serving primarily assisted living residents as well as memory care residents. DHC intends to use the proceeds from the transaction to pay down its $941 million of senior secured notes due January 2026.The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
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JACK | Hot Stocks06:42 EDT Jack in the Box enters 12-unit franchising deal in Chicago - Jack in the Box announces significant expansion into the Chicago market with a 12-unit franchising deal. This builds on the brand's momentum with their planned openings of two CloudKitchens in downtown and the previous announcement of eight company-operated locations to be developed in the suburbs of Chicago. Jack in the Box has identified over 100 additional franchise opportunities still available in the Chicago Metro Area, and the brand is actively seeking experienced multi-unit operators and business owners to join its growing franchisee network.
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WDOFF | Hot Stocks06:41 EDT Wesdome Gold Mines appoints Guy Belleau as COO - Wesdome Gold Mines announces the appointment of Mr. Guy Belleau as COO. Belleau is a Professional Engineer who has spent more than three decades in mine operations, development, and management. Most recently, he served as CEO of Sayona Canada, a subsidiary of Australian-listed Sayona Mining.
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NNVC | Hot Stocks06:39 EDT NanoViricides plans to advance NV-387 into Phase II clinical trials - The company said, "In the ensuing year, we plan on advancing NV-387 into Phase II clinical trials. We believe that NV-387 qualifies under the MEURI WHO protocol to enter Phase II clinical trial for the treatment of MPOX disease that is a current epidemic in Central Africa. This epidemic was declared a Public Health Emergency of International Concern by the WHO in August, 2024. There is currently no drug available for treatment of MPOX since the clinical trial of tecovirimat did not demonstrate improvement in outcomes as compared to the standard of care, according to a press release by NIH in August, 2024. We are also planning to advance NV-387 into a Phase II clinical trial for treatment of RSV infection in adults as part of the regulatory process required for registration of the drug for the treatment of pediatric RSV infection. We plan on advancing the regulatory processes for NV-387 registration for other indications such as influenza and COVID via partnerships and non-dilutive funding. As we meet the milestones, we believe we will be able to raise financing for further regulatory activities for NV-387 registration via non-dilutive grant funding, partnership revenues, as well as equity-based funding."
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NNVC | Hot Stocks06:39 EDT NanoViricides says made 'significant progress' in NV-387 regulatory advancement - The company said, "We have made significant progress in the regulatory advancement of NV-387. A Phase Ia/Ib clinical trial in healthy subjects was completed with all subjects discharged as of end of December, 2023. There were no adverse events reported. Lab data analysis is currently being conducted. We are awaiting a final report. Additionally, we have made significant progress in expanding the indications of NV-387, that would result in substantial improvement in the return on investment when regulatory approvals are obtained. Our host-mimetic, direct-acting, broad-spectrum, antiviral agent. NV-387 was found to have activity that surpassed the activity of known agents in lethal virus infection animal model trials for COVID, RSV, and Influenza. In fact, we found that NV-387 treatment possibly completely cured the lethal RSV infection in mice, based on indefinite survival of the animals with no lung pathology. There is currently no treatment for RSV infection. In particular, pediatric RSV infection treatment is an unmet medical need that we believe is of critical importance. Pediatric RSV treatment itself is expected to be a multi-billion-dollar market in the USA alone. NV-387 treatment was found to be substantially superior to three approved anti-influenza drugs, namely, oseltamivir, peramivir, and baloxavir. Additionally, NV-387 also demonstrated activity against lethal poxvirus infection animal models that was on par with the approved drug tecovirimat. NV-387 acts by a mechanism that is significantly different compared to the tested existing antiviral agents for Influenza and for Poxviruses. This demonstrated broad-spectrum activity of NV-387 against widely varying viruses is because NV-387 is designed to attack the virus particle by mimicking sulfated proteoglycan feature, and all of these viruses are known to utilize heparan sulfate proteoglycans for gaining cell entry. Further, for all of these tested viruses, even as the virus genome changes in the field, NV-387 is expected to continue to be effective, and the virus would be highly unlikely to escape NV-387. This is because despite all of the genomic changes, the virus continues to use HSPG, as is well known. Thus NV-387 solves the greatest problem in antiviral countermeasures; the problem of virus escape. Viruses are known to escape all of the current antiviral tools that include vaccines, antibodies, and small chemical drugs. Thus we anticipate that NV-387 would revolutionize the treatment of viral infections reminiscent of how penicillin revolutionized the treatment of bacterial infections."
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NNVC | Hot Stocks06:37 EDT NanoViricides files annual report on Form 10-K - The company said, "We reported that, as of June 30, 2024, we had cash and cash equivalent current assets balance of approximately $4.97 Million. In addition, we reported approximately $7.5 Million in Net Property and Equipment assets. The strong P&E assets comprise our cGMP-capable manufacturing and R&D facility in Shelton, CT. The total current liabilities were approximately $1.36 Million. In comparison, as of June 30, 2023, we had cash and cash equivalent balance of approximately $8.15 Million, P&E assets of approximately $8.1 Million, and total current liabilities of approximately $0.53 Million. The net cash utilized in the reported period for operating activities was approximately $6.31 million that included certain expenditures for Phase Ia/Ib clinical trial of NV-387 and drug manufacturing costs for this clinical trial. We raised approximately $3.12 million net of commission and certain expenses in an At-the-Market offering in the reported period at an average share price of $2.47. With an additional raise of approximately $1.53 million subsequent to the period under the ATM, and an available line of credit that was increased to $3 million from $2 million provided by our founder and President Dr. Anil Diwan, we have approximately $9.5 million available for cash operational expenses going forward. As such, we reported that we do not have sufficient funding in hand to continue operations through September 30, 2025, for our planned objectives that include a Phase II clinical trial of NV-387 for RSV indication in the USA. As a result substantial doubt exists about the Company's ability to continue as a going concern, as evaluated based on applicable guidelines. We are actively exploring additional required funding through non-dilutive grants and contracts, partnering, debt or equity financing pursuant to our plan. We believe that the Company has on-going access to the capital markets including the "At-The-Market" agreement that became active around April 5, 2024. We have perviously adjusted our objectives and development plans on the basis of available resources and we will continue to do so."
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KALV | Hot Stocks06:35 EDT KalVista submits additional MAAs for sebetralstat for treatment of HAE - KalVista announced Marketing Authorization Application submissions to the regulatory authorities in the United Kingdom, Switzerland, Australia, and Singapore for sebetralstat, a novel, investigational oral plasma kallikrein inhibitor for the on-demand treatment of hereditary angioedema attacks in adults and adolescents aged 12 years and older. The four MAAs have been submitted via the Access Consortium framework for which KalVista has obtained a four-way work-sharing agreement by the Medicines and Healthcare product Regulatory Agency, Swissmedic, the Therapeutic Goods Administration and Health Sciences Authority. The Access Consortium is designed to maximize regulatory collaboration across countries and support a timely review process. The MAA submissions are supported by previously disclosed results, including data from the KONFIDENT phase 3 clinical trial and ongoing KONFIDENT-S open label extension trial. Sebetralstat met the primary endpoint for its phase 3 trial with both 300 mg and 600 mg formulations achieving the beginning of symptom relief significantly faster than placebo and was well-tolerated, with a safety profile similar to placebo. In KONFIDENT-S, sebetralstat has enabled patients to treat attacks early with a median time from attack onset to treatment of 9 minutes, demonstrated a consistent safety and efficacy profile with KONFIDENT, and included a median time to beginning of symptom relief for laryngeal attacks of 1.3 hours. KONFIDENT and KONFIDENT-S are the only clinical trials ever conducted in HAE that instruct participants to treat their attacks as early as possible, regardless of severity, in accordance with on-demand treatment guidelines. Early treatment of attacks, prior to progression, is a critical element in proper management of HAE, to minimize symptom burden. KalVista's KONFIDENT-KID clinical trial, designed to evaluate the safety and efficacy of sebetralstat in a pediatric population aged 2-11 years, began dosing patients ahead of schedule in June 2024.
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NIO | Hot Stocks06:34 EDT Nio announces RMB3.3B investment in Nio China from strategic investors - NIO Inc. announced Friday that it has entered into definitive agreements for investment in NIO Holding Co., Ltd., a PRC subsidiary in which it holds 92.1% controlling equity interest, with Hefei Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment Co., Ltd. and CS Capital Co., Ltd., pursuant to which the Strategic Investors will invest an aggregate of RMB3.3 billion in cash to subscribe for newly issued shares of NIO China. Concurrently, NIO will invest an aggregate of RMB10 billion in cash to subscribe for newly issued shares of NIO China. Upon completion of the Investment Transaction, NIO will hold 88.3% of controlling equity interest in NIO China, while the Strategic Investors together with the other existing shareholders will collectively hold the remaining 11.7% of equity interest in NIO China. In addition to the NIO Investment Amount, NIO also has the right to invest an additional RMB20 billion to subscribe for additional shares in NIO China by December 31, 2025 based on the same price and terms of the Investment Transaction. The Investment Transaction is subject to regulatory and internal approvals, as well as the satisfaction of customary closing conditions. The Strategic Investors and NIO will each inject cash into NIO China in two installments, with 70% of the Strategic Investment Amount and NIO Investment Amount to be made by the end of November 2024, with the remaining 30% to be made by the end of December 2024.
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T TPG | Hot Stocks06:33 EDT AT&T to sell remaining 70% stake in DIRECTV to TPG - AT&T (T) reached an agreement to sell its remaining stake in DIRECTV to TPG (TPG). Under the agreement, the company will sell its entire 70% stake in a non-contingent transaction subject only to customary closing conditions. Over the past three years, the company achieved financial outcomes consistent with its expectations that underpinned its decision to retain a 70% financial interest in DIRECTV. Reported cash distributions at, and since, the closing of its initial transaction with TPG totaled $19B and the company expects to report an additional $7.6B of cash payments following this agreement to sell its remaining stake. The company expects the transaction to close in the second half of 2025.
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VSTS ARMK | Hot Stocks06:33 EDT Vestis to sell 39% equity stake in Japanese JV for $37M - Vestis announced an agreement to sell its 39% equity stake in Aramark Uniform Services Japan Corporation to majority owner Mitsui & Co., Ltd. for approximately $37M. The Company will use the proceeds from the transaction toward debt repayment. AUSJ, a uniform rental services provider in Japan, was established in 1988 as a joint venture between a group of companies including Vestis' former parent company Aramark. Vestis does not expect to record a material gain or loss as a result of the sale of its minority stake, which was accounted for as a non-operating equity investment and therefore not included in Operating Income or Adjusted EBITDA. The Company believes that monetizing this non-operating asset will further enhance its strategic focus, strengthen its balance sheet and provide additional financial flexibility. The transaction is expected to close by the end of October 2024, subject to customary closing conditions and approvals.
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BAX | Hot Stocks06:27 EDT Baxter says North Cove, NC facility affected by Hurricane Helene - Baxter shared updates regarding the impact of Hurricane Helene, which brought unprecedented rain and extensive flooding to Western North Carolina, on the operations of its North Cove facility in Marion, N.C. Baxter's North Cove site was affected by flooding due to the storm and is currently closed for production. The company is working around the clock in close coordination with local, state and federal officials to assess the extent of the damage and implement a plan to bring the plant back online as quickly as possible to help mitigate supply disruption to patients. Ahead of the storm, Baxter implemented its hurricane preparedness plan, which included evacuation plans for colleagues, as well as proactively moving products to higher ground or secure storage where feasible. The heavy rain and storm surge triggered a levee breach, which led to water permeating the site. The bridges accessing the site have also been damaged. Baxter is communicating with its customers about the actions the company is taking to minimize potential disruptions. These include actively managing inventory and implementing a protective allocation process by product line to help support supply continuity and equitable product distribution. The company will leverage Baxter's global manufacturing network to help mitigate potential supply impact as it continues efforts to fully restore North Cove's manufacturing operations. Baxter will continue to provide updates as additional information becomes available and aims to provide an update on estimated timing to resume production as soon as it is able. While the company is working expeditiously to restore its manufacturing operations and return to production, the disruption is anticipated to negatively impact the company's financial results. Once the company can more fully assess the damage, it will be in a better position to estimate any expected impact and plans to provide an update in its third quarter earnings announcement.
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ASDRF | Hot Stocks06:22 EDT Ascendant Resources approved for EU-sponsored UNDERCOVER project - Ascendant Resources announced its award of EU funding through its participation in the UNDERCOVER project. The project aims to advance mineral exploration by applying state-of-the-art geophysical technologies to uncover hidden mineral deposits at significant depths. One of the key focus areas for this innovative project is Ascendant's flagship Lagoa Salgada Project, located on Portugal's Iberian Pyrite Belt. The project seeks to transform how critical raw material deposits are discovered by integrating advanced geophysical techniques. The application of these methods will allow Ascendant to explore deeper and more complex mineral systems, particularly at Lagoa Salgada, which holds significant potential for zinc, copper, lead, tin, silver, and gold. A preliminary program has been defined as part of the application; however, this is to be refined by a panel of experts during October, 2024 to determine any change in scale and scope. The UNDERCOVER project is scheduled to run over 36 months, beginning in early 2025. Within the first two years, exploration efforts will focus on key study sites, including Lagoa Salgada, with results expected to guide future development and expansion of the project. Mark Brennan, Executive Chairman of Ascendant, commented: "We are pleased to participate in this EU funded critical minerals exploration initiative. The UNDERCOVER project is an exciting initiative, and along with our recently announced AI partnership with the University of Evora, demonstrates our commitment to innovation using cutting edge technology to unlock the vast exploration potential we see at our Lagoa Salgada project. We look forward to defining the initial program in the coming months and starting works onsite early next year. "
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STLA | Hot Stocks06:21 EDT Leapmotor International opens orders in Europe for T03, C10 vehicles - Designated Stellantis brand vehicle dealers throughout Europe are now taking orders for Leapmotor fully electric vehicles, with deliveries set for later this year. The launch of dealer orders is a milestone for Leapmotor International, the 51:49 joint venture between Stellantis and Leapmotor. The milestone was achieved in just under one year since the joint venture was formed, concurrent with Stellantis investing EUR 1.5G to acquire approximately 21% of Leapmotor. Initial markets for Leapmotor vehicles in Europe will be Belgium, France, Germany, Greece, Italy, Luxemburg, Malta, The Netherlands, Portugal, Romania, Spain, Switzerland, and the UK. Leapmotor International plans to expand distribution to Middle East & Africa, Asia Pacific, and South America from Q4 this year. Leapmotor launches with two fully equipped models in Europe: The T03, a 5-door A-segment compact car with 265 km of range and the interior space of a B-segment. T03 will be offered starting from 18.900 euros available now. The C10, a D-segment SUV with 420 km of range and best-in-class safety, an intelligent user experience, and premium levels of comfort. It uses Leapmotor's LEAP 3.0 architecture with a centrally integrated electronic configuration, the Cell-to-Chassis system, and a smart cockpit. C10 SUV will be available from 36.400 euros and planned to arrive at respective dealerships in-October.
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TPG T | Hot Stocks06:18 EDT TPG to acquire AT&T's 70% stake in DIRECTV, to make initial $2B payment - TPG (TPG) announced it has reached an agreement to acquire from AT&T (T) the remaining 70% stake in DIRECTV that it does not already own. TPG will invest in DIRECTV through TPG Capital, the firm's U.S. and European private equity platform. "This transaction is the right next step for DIRECTV as we advance our vision and continue to evolve our product to offer consumers the broadest array of content," said Bill Morrow, CEO of DIRECTV. Under the terms of the transaction, TPG will make an initial payment of $2B, subject to certain deductions, to AT&T during 2025 and additional payments to AT&T totaling $500M in 2029. AT&T expects to receive approximately $7.6B in cash payments from DIRECTV through 2029. The transaction also contemplates that DIRECTV will make a special distribution prior to March 31, 2025, of at least $1.625B that will be paid to the equity holders of DIRECTV, proportional to their respective ownership positions. The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including receipt of required regulatory approvals. Upon completion of the transaction, DIRECTV will continue to be led by its current management team, including CEO, Bill Morrow. Barclays is serving as lead financial advisor to TPG, and BofA Securities, Evercore, LionTree and Morgan Stanley also provided financial advice. Ropes & Gray LLP, Cleary Gottlieb Steen & Hamilton LLP and Mintz, Levin are serving as legal advisors to TPG.
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AIRE | Hot Stocks06:18 EDT reAlpha invests in Xmore AI, terms not disclosed - reAlpha Tech announced the selection of Xmore AI as the first company to secure investment from its newly launched reAlpha AI Labs, reAlpha's research and development initiative. Xmore AI, co-founded by Dr. Benjamin Yan and Adrian Self, leverages over a decade of research in AI-driven cybersecurity and has developed a platform that consolidates multiple cybersecurity tools into a seamless, AI-driven solution, ensuring that enterprises can operate securely in a rapidly evolving digital environment. Dr. Yan is a Professor of Computer Science and Engineering at Michigan State University. Adrian Self, a cybersecurity professional with extensive experience in blockchain security and embedded systems, complements Dr. Yan's expertise with his hands-on approach to security assessments and technology integration. This investment marks a strategic milestone for reAlpha AI Labs to accelerate the development of AI technologies and advance technology innovation in the real estate industry. In addition to enhancing reAlpha's AI homebuying platform through its AI-cybersecurity expertise, Xmore AI is developing a software that will consolidate multiple cybersecurity tools to provide AI-cybersecurity solutions to enterprises in multiple industries. At the core of Xmore AI's innovation is its ability to address the unique vulnerabilities created by the rapid expansion of AI across industries. We believe Xmore AI is well-positioned to address critical challenges like data privacy, compliance, and risk management, by providing innovative solutions designed to meet the evolving needs of the cybersecurity landscape.
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TPG T | Hot Stocks06:17 EDT TPG to acquire AT&T's 70% stake in DIRECTV, to make initial $2B payment
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BKD DHC | Hot Stocks06:17 EDT Brookdale Senior Living to acquire 41 leased communities, sees accretion - Brookdale Senior Living (BKD) announced that in a financing led by Deerfield Management, the company is addressing 83% of all 2026 debt maturities and is securing capital to support immediately accretive acquisition opportunities. The company also announced the successful refinancing of its 2025 agency debt maturity at a favorable rate. The company has entered into definitive agreements to acquire three portfolios of senior living communities that are currently leased by the Company. Through ownership of these communities, the company will gain portfolio management flexibility that is not present in a leased structure, providing additional opportunities to further enhance shareholder value. These transactions are expected to close by year-end, subject to the satisfaction of customary closing conditions for real estate transactions. The company has entered into a definitive agreement to acquire 11 senior living communities from a joint venture between Welltower and its joint venture partners for a purchase price of $300M. As part of this transaction, the company will assume $195M of existing 4.92% fixed rate agency debt which is scheduled to mature in March 2027. Currently, these communities are held in a triple-net lease with annualized current cash rent payments of $22M and a current maturity of August 31, 2028. This portfolio of communities is largely on the west coast, including several communities in and around Seattle as well as a Bay Area community. The portfolio is comprised of 470 independent living units, 723 assisted living units, and 36 memory care units with weighted average portfolio occupancy of approximately 80%. In 2019, these communities operated at a weighted average occupancy of 88%, reflecting an opportunity to enhance long-term value creation for the benefit of the Company and its shareholders. The company has entered into a definitive agreement to acquire five senior living communities from Welltower for a purchase price of $175M. Currently, these communities are held in a triple-net lease with annualized current cash rent payments of $13M and a current maturity of December 31. This portfolio of communities is largely located in affluent markets, including Nashville, Overland Park and Denver. In total, the portfolio is comprised of 270 independent living units, 170 assisted living units, 152 memory care units, and 94 skilled nursing units with weighted average portfolio occupancy greater than 90%. The acquisition purchase price, including the benefit of a favorable purchase option discount, also reflects a significant discount to the company's estimate of replacement cost. The company has entered into a definitive agreement to acquire 25 senior living communities from Diversified Healthcare Trust (DHC) for a purchase price of $135M. Currently, these communities are held in a triple-net lease with annualized current cash rent payments of $10M and a current maturity of December 31, 2032. This portfolio's communities are diversely located, range in size from 19 units to 92 units, and include a total of 556 assisted living units and 319 memory care units with weighted average portfolio occupancy of approximately 80%.
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MNKD | Hot Stocks06:15 EDT MannKind announces 30-week results from Phase 4 INHALE-3 study - MannKind Corporation announced top-level 30-week results from its Phase 4 INHALE-3 study, in which additional patients living with type 1 diabetes achieved target A1c levels during the extension phase. The completer analysis which included all people on inhaled insulin, evaluated two separate groups - one that utilized Afrezza over 30 weeks, and a second group of patients who switched to Afrezza at week 17 from usual care, defined as multiple daily injections, an automated insulin delivery system, or a pump without automation. There was continued improvement in the Afrezza-treated group, with additional subjects achieving A1c less than7% at 30 weeks - a 100% increase from baseline. Switching from usual care to Afrezza at week-17 allowed more than double the subjects to achieve A1c less than7% at week-30, compared to the number at goal at week-17. "The data from the extension phase of this study showed that more people living with T1D are able to reach target A1c levels when they remain on Afrezza or switch to Afrezza from usual care - whether they are using multiple daily injections or pumps," said Michael Castagna, PharmD, CEO for MannKind Corporation. "We believe this data demonstrates to healthcare practitioners that Afrezza is an effective tool for their patients who want to improve their glycemic control."
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KLTO MRNA | Hot Stocks06:13 EDT Klotho Neurosciences appoints Robert Langer to Scientific Advisory Board - Klotho Neurosciences (KLTO) announced that Dr. Robert Langer, co-founder of Moderna (MRNA), has joined its Scientific Advisory Board. In addition to lending his scientific expertise to guide the company's strategic direction, this also signals Dr. Langer's strong belief in the company's mission and potential. He is a Professor at the Massachusetts Institute of Technology and a faculty member of the Harvard-MIT Program in Health Sciences and Technology.
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FUFU | Hot Stocks06:11 EDT BitFuFu recaps participation at HC Wainwright annual conference - BitFuFu recapped its participation in the H.C. Wainwright 26th Annual Global Investment Conference held in early September in New York. During the conference, Ms. Calla Zhao, BitFuFu's CFO, delivered a comprehensive presentation outlining the Company's strategic initiatives and growth prospects, and engaged in one-on-one meetings with institutional investors. The company said, "One of the unique differentiators of BitFuFu's business model is its innovative cloud-mining solutions. BitFuFu stands out from many of its peers with its proprietary platform that allows users to mine Bitcoin, eliminating traditional barriers to entry and the need for costly hardware or technical expertise. This accessible solution has attracted over 395,000 registered users, including both individual and institutional clients. BitFuFu's cloud-mining solutions offer key benefits such as flexibility and cost-effectiveness, allowing customers to mine with minimal upfront costs an avoid issues such as hardware depreciation. This innovative approach uniquely positions BitFuFu in the mining sector. BitFuFu's rapid growth is being fueled by its strategic partnerships with industry leaders such as BITMAIN and Antpool. These partnerships strengthen its reputation as a trusted player in the mining industry and enhance its competitive advantages with improved operational efficiencies and a reliable and steady pipeline of mining rigs. As of June 30, 2024, BitFuFu manages over 522 MW of hosting capacity across 25 sites on three continents, with an average fleet efficiency of 21.1 J/THs. BitFuFu's financial performance over the past three years reflects its robust and growing position in the market. The Company recorded a three-year revenue CAGR of 66% and an adjusted EBITDA CAGR of 167%. In the first half of 2024, BitFuFu reported total revenues of $273.8 million, a 104% year-over-year increase. This growth highlights the effectiveness of BitFuFu's strategies and the strong market demand for its services. As the digital asset industry continues to evolve, BitFuFu is committed to scaling its operations and exploring new business opportunities. The Company has grown total mining capacity under management to 24.7 EH/s as of June 30, 2024, and is actively assessing new mining facilities globally to begin the transition from an asset-light strategy to one that manages a diverse and robust portfolio of Bitcoin mining infrastructure. This strategic focus on cloud mining, self-mining, and hosting services ensures that BitFuFu has the flexibility to adapt to all market cycles. As the Company looks ahead, it remains well-equipped to meet the demands of a rapidly changing market, leveraging its innovative technology, strong partnerships, and robust financial foundation to seize new opportunities."
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SOL | Hot Stocks06:11 EDT Emeren sells 57 MWp solar project portfolio to Trina Solar Systems - Emeren announced the sale of a 57 MWp solar project portfolio to Trina Solar Systems, the French subsidiary of Trina Solar International System Business Unit, or ISBU, the downstream project development arm of Trina Solar dedicated to the development, EPC, O&M, and asset management of solar and battery storage utility-scale projects worldwide. The portfolio includes five projects - one early-stage and one late-stage - both sold in Q3 2024, along with three mid-stage projects to be monetized in milestones and sold to Trina. Additionally, there is potential to incorporate Battery Energy Storage Systems, which could further increase the portfolio's flexibility and overall value.
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MFIN | Hot Stocks06:09 EDT Medallion Bank enters fintech partnership with Kashable - Medallion Bank announced a strategic partnership with Kashable. This collaboration builds on Medallion Bank's existing nationwide financing footprint while expanding Kashable's services to a broader audience, offering working Americans access to affordable personal loans. Medallion Bank will originate personal loans on the Kashable platform, enhancing Kashable's ability to introduce its services to employers, benefit administration platforms, marketplaces, and industry brokers, further solidifying its leadership in the financial wellness industry.
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IVCGF | Hot Stocks06:08 EDT Iveco Group receives three contracts for electric mobility solutions in France - IVECO BUS received three new contracts for electric mobility solutions in France, reinforcing the brand's leadership in the transition to cleaner, greener public transport. In total, 31 hydrogen fuel cell buses and 20 battery electric buses have been ordered since the beginning of September. Cannes Lerins Urban Community has renewed its trust in IVECO BUS and ordered twelve GX 337 H2 LINIUM BRT hydrogen fuel cell buses. Deliveries will start in the second half of 2025 to complement the thirty-five IVECO BUS GX ELEC battery electric buses already in the fleet. Lorient Agglomeration has also chosen IVECO BUS's hydrogen technology for its network, with nineteen GX 337 H2 LINIUM buses, five of which will enter service in the second half of 2025. The third contract is with Grand Reims Mobilites which has selected IVECO BUS to deliver twenty GX 437 ELEC LINIUM BRT battery electric buses. These vehicles will begin operating on the streets of Reims in autumn 2025.
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KW | Hot Stocks06:07 EDT Kennedy Wilson closes construction loans for three student housing projects - Kennedy Wilson has recently closed senior construction loans for the development of three student housing projects totaling $184 million at the University of Wisconsin - Madison, University of North Texas, and University of California, Berkeley. These recent deals, completed through Kennedy Wilson's debt investment platform, expand the student housing loan portfolio to $850 million to develop approximately 8,800 beds, with an additional $1 billion of new student housing loans totaling 8,200 beds currently being evaluated. Currently in various stages of construction, the three projects offer proximity to university facilities and feature expansive amenity spaces, resort-style pools and spas, fitness centers, outdoor lounges, private study rooms, meditation space, and controlled garage access.
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CURI SHEL | Hot Stocks06:06 EDT CuriosityStream announces collaboration with Shell Recharge - Shell Recharge (SHEL) and Curiosity (CURI) are teaming up to help drivers stay engaged, educated, and entertained while they 'charge smart.' The campaign kicks off from October 1st to November 24th, 2024, in the Netherlands. Shell Recharge is giving its app users in The Netherlands free access to Curiosity Stream. Courtesy of Shell, Recharge app users will have immediate access to Curiosity Stream's deep library of films and series exploring science, nature, history, technology, and more. Consumers can log in to watch thousands of shows making the EV experience even more enjoyable. Using the Shell Recharge app, drivers can find, access, and pay at more than 500 public charging points across the Netherlands. Using the navigator features, drivers can simply locate stations, filter the type of charger, connector type, and power. But the experience doesn't end there. On the Recharge app, drivers can find complimentary access to Curiosity Stream to dive in and stream smart while they charge smart.
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OGN | Hot Stocks06:04 EDT Organon, Henlius announce Phase 3 study of HLX11 met primary endpoint - Shanghai Henlius Biotech and Organon announced that the phase 3 comparative clinical trial for the investigational Perjeta biosimilar HLX11 met the primary endpoint. In 2022, Henlius entered into a license and supply agreement with Organon for the exclusive commercialization rights to two biosimilar candidates, including HLX11. The agreement licenses the global commercialization rights for the product, except for China, to Organon. The multicenter, randomized, double-blind, parallel-controlled phase 3 clinical study aimed to compare the efficacy and safety of HLX11 with reference Perjeta as a neoadjuvant therapy in patients with HER2-positive, HR-negative early, or locally advanced breast cancer as part of a complete treatment regimen. Eligible patients were randomized 1:1 to receive either HLX11 or reference Perjeta in combination with trastuzumab and docetaxel every three weeks for four cycles. The primary endpoint of this study was the total pathological complete response rate assessed by Independent Review Committee. The secondary endpoints currently being analyzed included tpCR rate assessed by investigators, breast pathologic complete response rate, objective response rate, event-free survival, disease-free survival, safety, pharmacokinetics, and immunogenicity. The primary endpoint of this study was met. Pertuzumab has been approved in various countries and regions in combination with trastuzumab and chemotherapy for the neoadjuvant, first-line, and adjuvant treatment for certain advanced HER2-positive breast cancer.
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AEYE | Hot Stocks06:02 EDT AudioEye acquires ADA Site Compliance, terms undisclosed - AudioEye announced it has acquired ADA Site Compliance, an ADA website accessibility compliance solution that provides audits and best practices to help organizations create websites that are accessible and compliant to WCAG standards. The acquisition of ADA Site Compliance is expected to be accretive in the fourth quarter.
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STLA | Hot Stocks05:41 EDT Stellantis falls 12% to $14.09 after cutting 2024 outlook
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PYFRF | Hot Stocks05:30 EDT Payfare initiates strategic review - Payfare announced that its board of directors has initiated, with the assistance of outside legal and financial advisors, a strategic review process to explore and evaluate a broad range of potential options for the company to enhance value. The foundation, funding, and execution of Payfare's ongoing programs remain secure with a robust pipeline of potential new opportunities in the gig economy and EWA space. To support conversion of these new opportunities and alleviate concentration risk, the board has decided to initiate a strategic review to accelerate these goals. During this process, Payfare remains focused on executing its current business strategy and will continue to provide financial solutions for its clients and cardholders. This review process will assess strategic alternatives that may include, but are not limited to strategic partnerships, strategic investments, accretive acquisitions, a potential sale, merger or other business combination. In conducting the strategic review, the company's board and management team are committed to acting in the best interests of the company, its shareholders and its stakeholders. There is no deadline or definitive timetable for the completion of the strategic review and Payfare does not intend to comment further unless the board has approved a specific transaction or otherwise determined that disclosure is necessary or appropriate. There can be no assurances that the strategic review will result in any specific transaction or outcome.
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ALV | Hot Stocks05:21 EDT Autoliv retires repurchased shares, decreases number of issued shares - Autoliv announced that as of September 30, the total number of issued shares of common stock is 83,487,293 of which 78,750,609 shares are outstanding. Autoliv retired 1,329,322 shares of common stock that had been repurchased during the quarter which resulted in a decrease in the issued shares. The company now has a total of 83,487,293 issued shares of common stock of which 78,750,609 shares are outstanding. Each share of outstanding common stock is entitled to one vote. After the retirement of the repurchased shares, Autoliv holds 4,736,684 shares of common stock in treasury which have no voting rights or rights to participate in distributions under Delaware law.
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STLA | Hot Stocks05:18 EDT Stellantis raises FY24 industrial free cash flow view to EUR 5B-EUR 10B - Raises FY24 operating income margin view to 5.5%-7%. Stellantis revised its 2024 financial guidance, reflecting decisions to significantly enlarge remediation actions on North American performance issues, as well as deterioration in global industry dynamics. The company has accelerated its planned normalization of inventory levels in the U.S., targeting no more than 330,000 units of dealer inventory by year-end 2024, from a prior timing objective of the first quarter of 2025. Actions include North American shipment declines of more than 200,000 vehicles in the second half of 2024, compared to the prior year period, increased incentives on 2024 and older model year vehicles, and productivity improvement initiatives that encompass both cost and capacity adjustments. Deterioration in the global industry backdrop reflects a lower 2024 market forecast than at the beginning of the period, while competitive dynamics have intensified due to both rising industry supply, as well as increased Chinese competition. The company's updated 2024 market outlook and financial guidance is as follows: adjusted operating income margin - expected to be between 5.5%-7% for the FY24 period, down from prior "double digit". Roughly two-thirds of the reduced AOI margin is driven by corrective actions in North America. Other contributors include lower than expected sales performance in the second half of the year across most regions. Industrial free cash flow - expected to range from -EUR 5B to EUR 10B, from prior "positive". This primarily reflects the substantially lower AOI outlook as well as the impact of temporarily elevated working capital in the second half of 2024.
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NOK | Hot Stocks05:12 EDT Nokia selected by Brazilian Network Information Center to boost internet - Nokia announced it has been selected by the Brazilian Network Information Center, the largest IXP operator in the world, to increase the performance and reliability of Brazil's internet infrastructure. Nokia's IP routing solutions will support NIC.br's mission of interconnecting the Brazilian Internet ecosystem and enable its expansion and reliability. The network upgrade comes as the country faces massive internet data traffic growth that is expected to reach 218.5 million users and over 50 terabits per second (Tb/s) in the next five years.
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YJ | Hot Stocks05:03 EDT Yunji regains compliance with Nasdaq - Yunji announced that it received a notification letter from Nasdaq Stock Market indicating that the company has regained compliance with the Nasdaq Listing Rule 5450(a)(2) and the matter is closed.
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CVNA | Hot Stocks05:01 EDT Carvana expands same day delivery to Kansas City - Carvana announced the expansion of its same day vehicle delivery offering to the greater Kansas City, Missouri area. Select Kansas City area residents can now take delivery of a vehicle purchase as soon as the same day they place an order on Carvana.com.
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