Stockwinners Market Radar for September 28, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
SJW | Hot Stocks19:31 EDT SJW Group CEO Roth to retire, Thornburg named next CEO - SJW Group announced that W. Richard Roth will retire as president and CEO of SJW Group on November 5, 2017. The board of directors has appointed Eric W. Thornburg as the new president and CEO and a member of the Board beginning November 6, 2017. Roth will serve as Chief Executive Emeritus until December 31, 2017, to ensure a seamless transition and will remain the chairman of the board until the next annual meeting of stockholders. The company anticipates appointing Thornburg as chairman of the board following such meeting.
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RTNB | Hot Stocks19:23 EDT root9B, LLC acquired by Tracker Capital, terms not disclosed - root9B, LLC has been acquired by an affiliate of Tracker Capital Management, LLC, an early stage investor focused principally on emerging technologies and companies with the potential to advance U.S. national security interests. root9B will now operate as an independent, privately-held company with no affiliation with root9B Holdings, Inc. It will continue to be headquartered in Colorado Springs and led by its existing management team.
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CTWS | Hot Stocks19:02 EDT Connecticut Water CEO Thornburg resigns, Benoit named interim CEO - The board of directors of Connecticut Water Service announced that they accepted the resignation of Eric W. Thornburg as chairman, president and CEO of the company, and unanimously appointed David C. Benoit to serve as the interim president and CEO of the company, its Connecticut operating subsidiaries, and CEO of the Maine subsidiary effective immediately. Richard Knowlton will remain the president of the company's Maine operating subsidiary, Maine Water Company. Benoit has been the company's senior VP and CFO.
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SMTS | Hot Stocks18:37 EDT Sierra Metals increases mineral resource estimate for Yauricocha Mine in Peru - Sierra Metals has updated its Mineral Resource Estimate at the company's Yauricocha Mine, Peru. Total Measured and Indicated Contained Metal has increased by 72% silver, 128% copper, 74% zinc, 64% lead and 61% gold. Total Inferred Contained Metal has increased by 55% silver, 59% copper, 105% zinc, 42% lead and 83% gold. Mineral Resources for Yauricocha are 13,206,000 tons averaging 62.3 g/t silver, 1.5% copper, 0.9% lead, 2.8% zinc and 0.6 g/t gold representing a 68% increase from the previous resource tonnage estimate Total Inferred Mineral Resources for Yauricocha are 6,632,000 tonnes averaging 43.0 g/t silver, 1.2% copper, 0.5% lead, 2.2% zinc and 0.5 g/t gold representing a 77% increase from the previous resource tonnage estimate Increases to copper grade reflect the discovery and delineation of new Cu-rich zones in Cuye, Mascota, and Esperanza and a 14% increase in Copper Price assumptions.
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PARR... | Hot Stocks18:06 EDT S&P announces changes to S&P SmallCap 600 index - S&P Dow Jones Indices will make the following changes in the S&P SmallCap 600 effective prior to the open of trading on Friday, October 6: Par Pacific Holdings (PARR) will replace Forestar Group (FOR). D.R. Horton (DHI) is acquiring 75% of the outstanding shares of Forestar in a deal expected to be completed soon pending final conditions. Post acquisition, Forestar's publicly available float will drop well below 50%, making it ineligible for continued inclusion the S&P SmallCap 600. Photronics (PLAB) will replace Atwood Oceanics (ATW). Ensco (ESV) is acquiring Atwood Oceanics in a deal expected to be completed soon pending final closing conditions.
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SCG | Hot Stocks18:00 EDT Scana reports on South Carolina Public Service Commission's deferral - The Public Service Commission of South Carolina, as part of a Special Commission Business Meeting, deferred action on the Office of Regulatory Staff's request for South Carolina Electric & Gas Company, principal subsidiary of Scana, to suspend revised rates collections. At its business meeting today, the SCPSC ordered a hearing officer to establish a briefing schedule and hearing date concerning the ORS's request. The SCPSC cited the need for due process and for additional review given the potential impact of the proposed actions. SCE&G's existing retail electric rates will remain in effect pending further action of the SCPSC. Prior to the Business Meeting, SCE&G filed a motion with the SCPSC to dismiss the ORS request citing numerous legal and constitutional deficiencies. The company claims that the proposed relief repeals multiple valid and legally binding orders issued under the BLRA, constitutes retroactive rate-making which is unlawful, denies SCE&G approximately $445M in annual revenue. SCE&G intends to defend its rights and claims, including appealing any adverse decision.
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WNRL ANDX | Hot Stocks17:59 EDT Western Refining Logistics to be removed from Alerian Index series - Alerian announced that Western Refining Logistics (WNRL) will be removed from the Alerian MLP Index, Alerian MLP Equal Weight Index, and the Alerian Mid Cap MLP Index in a special rebalancing after market close on Friday, September 29. Special rebalancings are triggered by corporate actions such as mergers, bankruptcies, and liquidations. Andeavor Logistics (ANDX) announced after market close today that they have received written consent from a majority of outstanding WNRL unitholders to approve a merger between ANDX and WNRL.
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SGH... | Hot Stocks17:40 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Smart Global (SGH), up 6.2%... Tyson Foods (TSN), up 5.4%... KB Home (KBH), up 1.1%. ALSO HIGHER: Aehr Test Systems (AEHR), up 16.5% after it received follow-on orders for its FOX-XP Test and Burin-in Solution... Aptevo Therapeutics (APVO), up 13% after it amended its loan agreement with MidCap Financial... A10 Networks (ATEN), up 12.8% after it raised its third quarter revenue guidance... Zynerba (ZYNE), up 4.9% after the stock was upgraded to Overweight from Neutral at Piper Jaffray... Marinus Pharmaceuticals (MRNS), up 3.6% after Bain Capital Life Sciences Fund reported a 15.8% passive stake in the company. LOWER: Western Refining Logistics (WNRL), down 0.8% after its board set a September 28 record date for determining holders of WNRL common units entitled to execute and deliver written consents with respect to its proposed acquisition by Andeavor Logistics (ANDX).
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SCMP | Hot Stocks17:38 EDT Sucampo's sNDA for lubiprostone accepted by the FDA - Sucampo's recently submitted supplemental New Drug Application for lubiprostone in children aged 6 to 17 years with pediatric functional constipation has been accepted by the FDA. The filing has received Priority Review designation from the FDA. The FDA has assigned a user fee goal date of January 28, 2018. Sucampo also announced that a Phase 3 study to evaluate the bioequivalence of sprinkle and capsule formulations of lubiprostone as compared to placebo in adult subjects with chronic idiopathic constipation did not show bioequivalence, but did demonstrate significant activity and was well-tolerated. Sucampo's focus continues to be on the potential approval of the pediatric indication and will not be moving forward with an NDA submission for the sprinkle formulation in adults.
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ANDX... | Hot Stocks17:35 EDT Andeavor announces closing date for Western Refining acquisition - Andeavor Logistics (ANDX) and Western Refining Logistics (WNRL) announced that the board of WNRL's general partner has set September 28 as the record date for determining holders of WNRL common units entitled to execute and deliver written consents with respect to the proposed acquisition. The consent process will conclude on October 27. The approval and adoption of the acquisition requires the affirmative vote or consent of holders of at least a majority of the outstanding WNRL common units. Certain Andeavor (ANDV) affiliates, which beneficially own a majority of the outstanding WNRL common units, have delivered a written consent adopting and approving in all respects the agreement and plan of merger, dated as of August 13 and the transactions contemplated thereby. The delivery of this consent is sufficient to adopt the merger agreement and approve the acquisition by Andeavor Logistics of WNRL, without the receipt of written consent from any other holder of WNRL common units. Andeavor Logistics expects the closing of the acquisition to occur on October 30, subject to the satisfaction or waiver of the remaining customary conditions to closing. As previously announced on August 14, the IDR buy-In transaction between Andeavor and Andeavor Logistics is expected to immediately follow the closing of the WNRL acquisition.
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NOC | Hot Stocks17:27 EDT Northrop Grumman awarded $267.7M government contract modification - Northrop Grumman Systems Corp., Herndon, Virginia, is being awarded $267,655,035 for firm-fixed-price, cost-plus-fixed-fee, cost only modification to a previously awarded contract for Joint Counter Radio-Controlled Improvised Explosive Device Electronic Warfare Increment One Block One systems full-rate production in support of the Expeditionary Warfare Program Office. Work is expected to be complete by August 2022. Fiscal 2016 other procurement; fiscal 2017 other procurement; and fiscal 2017 research development test and evaluation funding in the amount of $266,674,330 will be obligated at time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, District of Columbia is the contracting activity.
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LMT | Hot Stocks17:24 EDT Lockheed Martin awarded $103.3M government contract modification - Lockheed Martin Missiles and Fire Control, Orlando, Florida, has been awarded a $103,287,296 modification to foreign military sales contract W31P4Q-15-C-0151 for Hellfire II missile production. Work will be performed in Orlando, Florida, with an estimated completion date of Sept. 30, 2020. Fiscal 2015, 2016 and 2017 other procurement and other funds in the combined amount of $103,287,296 were obligated at the time of the award. U.S Army Contracting Command, Redstone Arsenal, Alabama, is the contracting activity.
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RTN | Hot Stocks17:23 EDT Raytheon awarded $292.4M government contract modification - Raytheon Missile Systems, Tucson, Arizona, has been awarded a $292,436,322 modification to foreign military sales contract W31P4Q-12-C-0265 for Tube-launched Optically-tracked Wireless-guided missiles. Work will be performed in Tucson, Arizona; and Farmington, New Mexico, with an estimated completion date of Dec. 31, 2018. Fiscal 2010 foreign military sales funds in the amount of $292,436,322 were obligated at the time of the award. U.S. Army Contracting Command, Redstone Arsenal, Alabama, is the contracting activity.
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KBH | Hot Stocks17:23 EDT KB Home sees FY18 housing revenue $4.5B-$4.9B
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RTN | Hot Stocks17:22 EDT Raytheon awarded $300M government contract - Raytheon Missile Systems, Tucson, Arizona, has been awarded a $300,088,180 fixed-price-incentive domestic and foreign military sales contract for Tube-launched Optically-tracked Wireless-guided missiles for the Army, Marine Corps and foreign military sales customers. Bids were solicited via the Internet with one received. Work has an estimated completion date of July 31, 2020. Fiscal 2010, 2015, 2016 and 2017 other procurement; foreign military sales; and American Recovery and Reinvestment Act funds in the combined amount of $300,088,180 were obligated at the time of the award. U.S. Army Contracting Command, Redstone Arsenal, Alabama, is the contracting activity.
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SBUX | Hot Stocks17:20 EDT Starbucks extends licensing agreement with Maxim's Caterers Limited - Starbucks announced it has entered into an agreement with its long-time strategic partner Maxim's Caterers Limited - a restaurant operator of multiple brands across Asia - to fully license Starbucks operations in Singapore. Under the agreement, Maxim's Caterers Limited will have the exclusive rights to operate and develop Starbucks stores in Singapore. The move further accelerates Starbucks operations in this important market and aligns with Starbucks growth agenda. Starbucks entered Singapore in 1996 with the opening of its first store at Liat Towers, centrally located along the renowned Orchard Road shopping belt.
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KBH | Hot Stocks17:19 EDT KB Home sees FY17 housing revenue at about $4.3B
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PLAB... | Hot Stocks17:19 EDT Photronics to replace Atwood Oceanics in S&P 600 at open on 10/6 - Ensco (ESV) is acquiring Atwood Oceanics (ATW) in a deal expected to be completed soon pending final closing conditions.
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KBH | Hot Stocks17:19 EDT KB Home sees Q4 housing revenue $1.3B-$1.4B - Sees Q4 average selling price $425,000-$430,000.
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GD | Hot Stocks17:18 EDT General Dynamics awarded funds by Navy for two DDG 51-Class destroyers - The U.S. Navy has awarded General Dynamics funding for the planning and construction of two Arleigh Burke-class destroyers, DDG 126 and DDG 127. The contract modification fully funds the two ships. DDG 126 was awarded under the contract that was part of a multi-year competition for DDG 51-class destroyers in 2013. DDG 127 was approved by Congress under separate legislation.
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PARR... | Hot Stocks17:17 EDT Par Pacific to replace Forestar Group in S&P 600 at open on 10/6 - D.R. Horton (DHI) is acquiring 75% of the outstanding shares of Forestar (FOR) in a deal expected to be completed soon pending final conditions. Post acquisition, Forestar's publicly available float will drop well below 50%, making it ineligible for continued inclusion the S&P SmallCap 600.
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KBH | Hot Stocks17:15 EDT KB Home sees FY18 revenue 'just short of' $4.7B, consensus $4.72B - Says Hurricane Harvey impacted Texas results by 60-80 net orders. Says expects to be "well-positioned" heading into 2018. Says overall housing market conditions remain "stable."
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KBH | Hot Stocks17:07 EDT KB Home CEO says he 'immediately' regretted Kathy Griffin incident - Comments taken from Q3 earnings conference call.
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AMZN | Hot Stocks16:53 EDT Whole Foods reports on unauthorized access of payment card information - Whole Foods Market recently received information regarding unauthorized access of payment card information used at certain venues such as taprooms and full table-service restaurants located within some stores. These venues use a different point of sale system than the company's primary store checkout systems, and payment cards used at the primary store checkout systems were not affected. When Whole Foods Market learned of this, the company launched an investigation, obtained the help of a leading cyber security forensics firm, contacted law enforcement, and is taking appropriate measures to address the issue. The company's investigation is ongoing and it will provide additional updates as it learns more. While most Whole Foods Market stores do not have these taprooms and restaurants, Whole Foods Market encourages its customers to closely monitor their payment card statements and report any unauthorized charges to the issuing bank. The Amazon.com systems do not connect to these systems at Whole Foods Market. Transactions on Amazon.com have not been impacted.
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APVO | Hot Stocks16:50 EDT Aptevo Therapeutics amends loan agreement with MidCap Financial - Aptevo Therapeutics announced that it has amended the terms of a credit agreement initially executed with MidCap Financial Trust in August 2016. The first tranche of this term loan, in the amount of $20M, was funded in August 2016. The amendment allows Aptevo to retain this $20M funding tranche, for which repayment was anticipated coincident with the sale transaction of Aptevo's hyperimmune commercial assets. As part of the amendment, the companies have agreed to eliminate the option for a second tranche of $15M.
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DMPI | Hot Stocks16:49 EDT Intracoastal Capital reports 4.99% passive stake in DelMar Pharmaceuticals
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MT | Hot Stocks16:48 EDT ArcelorMittal announces major $1B investment program at Mexican operations - ArcelorMittal announces a major $1B, three-year investment program at its Mexican operations, which is focussed on building ArcelorMittal Mexico's downstream capabilities, sustaining the competitiveness of its mining operations and modernising its existing asset base. The program is designed to enable ArcelorMittal Mexico to meet the anticipated increased demand requirements from domestic customers, realise in full ArcelorMittal Mexico's productive capacity of 5.3M tonnes and significantly enhance the proportion of higher-value added products in its product mix, in-line with the company's Action 2020 strategic plan. The main investment will be construction of a new hot strip mill. Construction will take approximately three years and, upon completion, will enable ArcelorMittal Mexico to produce 2.5M tonnes of flat rolled steel. Coils from the new hot strip mill will be supplied to domestic, non-auto, general industry customers. Further investments will be made at Lazaro Cardenas to improve the quality and productivity of the asset base, with additional investment in the group's Mexican mining operations. This announcement follows confirmation that the Mexican government has established five Special Economic Zones in southern Mexico to attract infrastructure investment in areas of undeveloped economic potential. Lazaro Cardenas, home to ArcelorMittal Mexico's primary steelmaking operations, was named a SEZ.
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SCMP | Hot Stocks16:45 EDT Sachiko Kuno reports 17.9% stake in Sucampo
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EFX | Hot Stocks16:37 EDT Equifax to offer product to control access to personal credit data - According to a regulatory filing, Equifax is planning to offer a new service by January 31, 2018 allowing all consumers the option of controlling access to their personal credit data. The service the Company is developing will let consumers lock and unlock access to their Equifax credit files, at will, without charge and for life.
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GTS | Hot Stocks16:35 EDT Triple-S updates operations after Hurricane Maria - Triple-S Management Corporation provided an update on its operations following Hurricane Maria. All of its buildings were successfully evacuated prior to the storm reaching the island and backup generators were already in place. While corporate headquarters experienced some wind and rain damage, Triple-S' businesses are up and running, albeit with a scaled-back workforce to allow employees to concentrate on the safety and well-being of their families. Roberto Garcia-Rodriguez, president and CEO of Triple-S Management, said, "We are still very early in assessing the damage Island wide, but our maximum P&C exposure is $10 million. Some of this exposure will likely be offset by our Managed Care operations, which are experiencing lower utilization as our members rebuild their homes and focus on their families. We continue to identify ways to help our members get the care they need in a timely fashion and the Government has made those in need of healthcare a top priority. The fallout from Hurricane Maria is another in a long list of challenges that Puerto Rico has faced in the last decade. I am confident that the resolve and resilience of our people will allow us to band together and rebound from this devastating natural disaster."
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TCON | Hot Stocks16:35 EDT 683 Capital Management reports 5.4% passive stake in TRACON Pharmaceuticals
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SGH | Hot Stocks16:35 EDT SMART Global trading resumes
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ZIOP | Hot Stocks16:33 EDT Ziopharm names David Mauney chief business officer - Ziopharm Oncology announced the appointment of David Mauney, M.D., as executive VP and chief business officer, effective today. Mauney joins the company from Harvest Capital Strategies, LLC, where he served as a Managing Director.
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XPER SSNLF | Hot Stocks16:32 EDT Tessera files patent infringement suit against Samsung - Tessera Technologies and certain of its subsidiaries filed legal proceedings today against Samsung Electronics (SSNLF) and certain of its affiliates, alleging infringement of 24 patents that cover a wide range of semiconductor processing, bonding, and packaging technologies, as well as imaging technologies. Tessera is a subsidiary of Xperi (XPER). The legal proceedings were filed in the U.S. International Trade Commission, three U.S. federal district courts, and certain international jurisdictions, alleging infringement by Samsung's semiconductor products, its Galaxy S6, S7, S8, and Note 8 smartphones, and other products. "Samsung has benefitted from its use of our semiconductor technologies for 20 years, having entered into its first license with Tessera, Inc. in 1997. Samsung has also been a customer of our FotoNation imaging technologies, and has expressed interest in certain of our other solutions. Samsung's most recent semiconductor patent license expired in December 2016, but we believe it is continuing to use our patented technologies without authorization, and without paying us fair compensation," said Jon Kirchner, the Company's CEO. "We diligently tried to work through our differences with Samsung over an extended period of time, and while we remain in dialogue, unfortunately at this point the parties have not been able to come to an agreement."
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STNG | Hot Stocks16:26 EDT Scorpio Tankers announces sale and leaseback agreements for five tankers - Scorpio Tankers announced that it has agreed to sell and leaseback five 2012 built MR product tankers to Bank of Communications Financial Leasing. Three of the five transactions have been completed, which has increased the company's liquidity by approximately $21M in aggregate after the repayment of the outstanding debt. The sales price for each vessel is $27.5M, and the company will bareboat charter-in the vessels for a period of seven years at $9,025 per day per vessel. The company also has three one-year options to extend the bareboat charter agreements beyond the initial term. In addition, Scorpio Tankers has purchase options beginning at the end of the fifth year and until the end of the agreements.
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TTMI | Hot Stocks16:26 EDT TTM Technologies completes debt refinancing - TTM Technologies announced the completion of its previously announced debt refinancing, which included the closing of its private placement of $375M in aggregate principal amount of its 5.625% senior notes due 2025 and the syndication of a $350M senior secured term loan that matures in September 2024 .TTM used the proceeds of the Offering, together with borrowings from its New Term Loan Facility, to refinance the full amount of indebtedness outstanding under TTM's previous term loan facility and repay a portion of the amounts outstanding under TTM's U.S. senior secured revolving credit facility, as well as to pay related fees and expenses.
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TX | Hot Stocks16:26 EDT Ternium plans to build new facilities in Mexico and Colombia - Ternium announced two new investment programs to develop its industrial system. The company plans to install a new hot rolling mill at its Pesqueria industrial center in Mexico, and to build a new steel reinforcing bar manufacturing facility in northern Colombia. Ternium's new hot rolling mill will have an annual production capacity of 3.7 million metric tons. With a total investment of $1.1B, the new line would be operational by 2H20. The current plan includes the option to increase in the future the line's production capacity by an additional 1.1 million metric tons with a small additional investment. The company also announced a new steel bar production facility in northern Colombia to integrate upstream our operations in the country. With annual production capacity of 520,000 metric tons and total investment of approximately $90M, the new steel bar and coil mill will expand Ternium's reinforcing bar production capacity in Colombia to 720,000 metric tons. The new mill would be completed by 2H19.
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MRCY | Hot Stocks16:23 EDT Mercury Systems gets $11.5M in follow-on orders - Mercury Systemsannounced it received $11.5M in follow-on orders from a leading defense prime contractor for BuiltSAFE computing modules to be used in Command, Control, Communications, Computers, and Intelligence subsystems. The subsystems will be deployed in both manned and unmanned platforms as well as their associated ground stations. The orders were booked in the Company's fiscal 2018 first quarter and are expected to be shipped over the next several quarters. "Skillful execution by our manufacturing team continues to deliver high quality and on-time delivery for this very demanding customer," said Ian Dunn, Mercury's Vice President of Sensor and Mission Processing. "As part of an open systems architecture, these BuiltSAFE computing modules enable rapid deployment of the C4I subsystems."
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TSN | Hot Stocks16:21 EDT Tyson Foods to reduce headcount by 450 - Through a combination of synergies from the integration of AdvancePierre Foods acquired in June, and additional eliminations of non-value-added costs, the company expects cumulative net savings of $200M, $400M and $600M over fiscal years 2018, 2019 and 2020, respectively. These savings primarily will impact the Prepared Foods and Chicken segments, focusing on three areas: Supply Chain, Procurement, and Overhead. The company plans to reduce headcount by approximately 450 positions across several areas and job levels. Most of the eliminated positions will come from the corporate offices in Springdale, Chicago and Cincinnati.
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CEMP | Hot Stocks16:20 EDT Cempra and Melinta announce the expiration of waiting period for merger - Cempra and Melinta Therapeutics announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to Melinta's pending merger with a subsidiary of Cempra has now expired. The expiration of the waiting period satisfies one of the conditions to the closing of the pending merger, which remains subject to other customary closing conditions. Both companies expect the transaction to be completed in Q4.
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MRNS | Hot Stocks16:18 EDT Bain Capital LSF reports 15.8% passive stake in Marinus Pharmaceuticals
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CRHM | Hot Stocks16:18 EDT CRH Medical acquires anesthesia practice in San Antonio - CRH Medical has completed an accretive transaction whereby CRH has acquired a gastroenterology anesthesia practice in San Antonio, Texas. Alamo provides anesthesia services to an ambulatory surgical center in San Antonio, TX and is CRH's second acquisition in Texas. The total 2018 annual estimated revenue is $1.8M and the transaction is EBITDA and cash flow accretive.
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AIRT | Hot Stocks16:16 EDT Air T granted 180-day extension by Nasdaq to regain compliance - Air T announced that The NASDAQ Stock Market granted the company a 180-day extension to meet the requirements for continued listing on its exchange.
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KAMN | Hot Stocks16:15 EDT Gabelli reports 17.83% stake in Kaman
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INTC MBLY | Hot Stocks16:12 EDT Intel commences compulsory acquisition for remaining Mobileye shares - Intel (INTC) and Mobileye (MBLY) announced the commencement of the compulsory acquisition for all remaining outstanding shares of Mobileye and that a writ of summons was served on the relevant parties on September 28, 2017. Mobileye B.V., previously Mobileye N.V., was converted from a public limited liability company to a private limited liability company under Dutch law on September 1, 2017. As further described in the Offer to Purchase and related materials filed with the U.S. Securities and Exchange Commission in connection with the previously announced and completed tender offer for all outstanding shares of Mobileye by Intel, and as provided by Dutch law, the compulsory acquisition is a statutory proceeding before the Enterprise Chamber of the Amsterdam Court of Appeals for the compulsory acquisition of shares that were not validly tendered. In such a proceeding, the Enterprise Chamber will determine a cash price to be paid for such shares, which Intel has requested be equal to the tender offer consideration of $63.54 per share in cash, less applicable withholding. In order to provide Mobileye shareholders with an indication of the potential timing for a determination by the Enterprise Chamber, and while not dispositive for the pending Intel/Mobileye proceeding, Intel and Mobileye note that the Enterprise Chamber has, in certain precedent transactions, made its determination within six to twelve months following the date of service of the relevant writ of summons. Intel anticipates that Mobileye shareholders who failed to tender during the tender offer or who did not otherwise sell their interest in Mobileye shares to Cyclops Holdings, LLC, a wholly owned subsidiary of Intel, will be able to receive consideration following the completion of the Enterprise Chamber compulsory acquisition proceeding, subject to the determination of the Enterprise Chamber. As described in the Offer to Purchase, Intel anticipates that any payments to Mobileye shareholders following the completion of the Enterprise Chamber compulsory acquisition proceeding would be subject to withholding taxes in the same manner as if such Mobileye shares had been tendered in the tender offer. In particular, Intel anticipates that the withholding tax ruling from the Israeli Tax Authority will continue to apply during the compulsory acquisition proceeding and that any payment for Mobileye shares following the completion of the Enterprise Chamber compulsory acquisition proceeding will be subject to the completion and delivery of a Declaration of Status for Israeli Income Tax Purposes in the same or similar form as was required for shares tendered in the tender offer. As a result of the commencement of the compulsory acquisition, Intel and Mobileye do not anticipate utilizing the previously announced tax ruling issued by the Israel Tax Authority regarding the tax treatment of the potential asset sale, liquidation and second step distribution that were previously described in the materials filed with the SEC in connection with the tender offer.
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PRTA | Hot Stocks16:12 EDT Prothena reports PRX003 not ready to advance to mid-stage clinical development - Prothena Corporation announced clinical results of a Phase 1b multiple ascending dose study of PRX003 in patients with psoriasis. PRX003 is a monoclonal antibody targeting CD146, also known as melanoma cell adhesion molecule, a cell adhesion molecule located on the surface of T helper 17 cells. While the primary objectives of the study were achieved, advancing PRX003 into mid-stage clinical development required a well-defined relationship between biological activity and meaningful clinical effects, and these prerequisites were not met. In this study, PRX003 administration resulted in dose- and time-dependent occupancy and downregulation of CD146 on Th17 cells, consistent with prior Phase 1a SAD study results. However, the pharmacodynamic effects did not translate into meaningful clinical benefit in patients with psoriasis treated with PRX003, as measured by responses in the Psoriasis Area and Severity Index 75, a clinical assessment used to evaluate psoriasis severity in patients. Additionally, skin biopsy data demonstrated insufficient reduction in measurements of Th17 cell infiltration and other inflammatory markers required to advance PRX003 into mid-stage clinical development for psoriasis or psoriatic arthritis as previously planned.
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AEHR | Hot Stocks16:11 EDT Aehr Test Systems gets follow-on orders for FOX-XP Test and Burn-in Solution - Aehr Test Systems announced that it has received follow-on orders totaling $2.7M from a subcontractor of its initial lead FOX-XPTM Test and Burn-in System customer. The orders include a partially populated FOX-XP system, multiple DiePak(R) Carriers for their next generation devices and multiple FOX DiePak Loader/Unloaders to increase their current production capacity. Gayn Erickson, President and CEO of Aehr Test Systems, commented, "We are excited to receive these additional follow-on orders from this large multinational customer for their production test/burn-in requirements. The new orders build on an existing device test/burn-in implementation at this customer now moving into volume production, which continues to expand our production presence for multiple generations of devices.
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BLUE CELG | Hot Stocks16:09 EDT bluebird bio says first patient treated in Phase 1 study of bb21217 - bluebird bio (BLUE) announced the treatment of the first patient with relapsed/refractory multiple myeloma in a Phase 1 study of bb21217. bb21217 is an investigational chimeric antigen receptor T cell therapy targeting B cell maturation antigen. bluebird bio is developing bb21217 in collaboration with Celgene Corporation (CELG). bluebird bio also announced today that Celgene has exercised its option to exclusively license bb21217, under the terms of the collaboration between the two companies. "bb21217, bluebird's second oncology program to enter the clinic, complements bb2121, which has demonstrated encouraging safety and efficacy results in an ongoing Phase 1 trial. With bb21217, we manufacture a CAR T cell product enriched for 'memory T cells' - a long-lived, more potent T cell subtype - which in preclinical in vivo studies has shown improved anti-tumor activity," said Philip Gregory, chief scientific officer, bluebird bio. "While the clinical data we have shared to date from our bb2121 program have shown deep and durable responses, we know that multiple myeloma is an aggressive and historically incurable cancer. With our partners at Celgene, we are excited to bring forward a second program reflecting our commitment to exploring all avenues to deliver cutting edge therapies to patients."
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LMRK | Hot Stocks16:09 EDT Landmark Infrastructure acquires real property interests from Landmark Dividend - Landmark Infrastructure Partners announced that it has acquired 49 tenant sites located in 23 states from its sponsor, Landmark Dividend for total consideration of $33.3M. This acquisition is expected to be immediately accretive to the Partnership's distributable cash flow and will be financed with borrowings under its revolving credit facility. The Chief Executive Officer of the Partnership's General Partner, Tim Brazy, said, "We are excited to announce the latest portfolio drop-down acquisition from our sponsor. These drop-down acquisitions bring the Partnership's 2017 acquisitions to 161 assets for total consideration of approximately $119M. Our sponsor continues to drive meaningful acquisition opportunities which gives us confidence in the Partnership's ability to grow distributable cash flow."The assets being acquired are not part of the assets subject to the Partnership's right of first offerwith affiliates of Landmark. As of August 31, 2017, assets under management with affiliates of Landmark totaled approximately 870 assets, including more than 620 assets that are subject to our ROFO. The terms of the acquisition were approved by the Board of Directors of the General Partner of the Partnership and based on the approval and recommendation of the Conflicts Committee comprised entirely of independent directors. The Conflicts Committee was advised by Duff & Phelps Corporation, its financial advisor, and Akin Gump Straus Hauer & Feld LLP, its legal
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KBH | Hot Stocks16:08 EDT KB Home reports Q3 net orders up 4% to 2,608 - Reports Q3 net order value up 15% to $1.07B.
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CGNT | Hot Stocks16:07 EDT Cogentix Medical invests $2M in Israeli company - Cogentix Medical invested $2M in Vensica Medical. Vensica is a privately-held Israeli-based company developing VensiCare, an ultrasound based, needle-free drug delivery system. The initial indication pursued for the VensiCare device will be the delivery of botulinum toxin to treat overactive bladder. Vensica also has intellectual property for the delivery of oncology agents to the bladder. Vensica currently anticipates commencing human clinical trials of VensiCare for OAB during 4Q18. Cogentix will receive one seat on the Vensica Board and options to acquire the entire company for an additional $8M.
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CMI | Hot Stocks16:05 EDT Cummins and Achates Power to execute $47.4M contract - Cummins announced that it has executed a $47.4M contract, awarded by the National Advanced Mobility Consortium, to develop and demonstrate a technologically advanced engine for the next generation of U.S. combat vehicles. The Advanced Combat Engine, or ACE, project, led by Cummins Corporate Research and Technology and supported by Achates Power, aligns well with the research and development work of the U.S. Army Tank Automotive Research, Development and Engineering Center. ACE is a key component of the Army's 30 year strategy to modernize tactical and combat vehicles, with potential for future production configurations being used in the Bradley Family of Vehicles and the next generation combat vehicle.
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CMI | Hot Stocks16:05 EDT Cummins and Achates Power to execute $47.4M contract - Cummins announced that it has executed a $47.4M contract, awarded by the National Advanced Mobility Consortium, to develop and demonstrate a technologically advanced engine for the next generation of U.S. combat vehicles. The Advanced Combat Engine, or ACE, project, led by Cummins Corporate Research and Technology and supported by Achates Power, aligns well with the research and development work of the U.S. Army Tank Automotive Research, Development and Engineering Center. ACE is a key component of the Army's 30 year strategy to modernize tactical and combat vehicles, with potential for future production configurations being used in the Bradley Family of Vehicles and the next generation combat vehicle.
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P | Hot Stocks16:03 EDT Corvex Management reports 4.7% stake in Pandora
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KTOS | Hot Stocks16:02 EDT Kratos Defense receives $6.2M in orders for specialized products - Kratos Defense & Security Solutions announced that its Unmanned Systems Division, USD, recently received $6.2M in orders for specialized products in support of certain National Security Related Programs. USD is a leading industry innovator and provider of high performance unmanned aerial drone systems and aircraft for tactical missions and target applications. Work under these recent contract awards will be performed at secure Kratos manufacturing facilities. Due to customer related, competitive and other considerations, no additional information will be provided related to these recent contract awards.
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SGH | Hot Stocks16:01 EDT SMART Global trading halted, news pending
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FOR | Hot Stocks15:57 EDT Forestar Group trading resumes
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TWTR | Hot Stocks15:51 EDT Twitter says will step up efforts to stop malicious activity - Reference Link
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PTCT | Hot Stocks15:40 EDT FDA panel says data inconclusive on efficacy of PTC Therapeutics' ataluren - According to multiple media reports of the FDA Advisory Committee meeting to review the NDA for PTC Therapeutics' ataluren, the committee members voted 10-1 that the data are inconclusive on the effectiveness of the drug and more work is needed to establish if ataluren is effective. One vote was cast that the data are sufficient to conclude that ataluren is effective.
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HII | Hot Stocks15:31 EDT Huntington Ingalls unit awarded $25M contract from U.S. Navy - Huntington Ingalls Industries' Technical Solutions division was recently awarded a $25M indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, multiple-award contract from the U.S. Navy to provide training services for tactical afloat shipboard, ashore and submarine command, control, communications, computers, intelligence, surveillance and reconnaissance systems. The three-year contract includes two one-year option periods, which, if exercised, could bring the value of the contract to $43M. Work will be performed on ships and land sites worldwide and, if all options are exercised, work will continue through September 2022. This is one of four multiple-award contracts. Support will include development and implementation of training solutions, scheduling of fleet training, and technical training equipment design and installation.
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ZUMZ | Hot Stocks15:22 EDT Zumiez says small percentage of stores are low performers - Says Europe is the next big market for company.
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ZUMZ | Hot Stocks15:17 EDT Zumiez says had strong comparisons in early-period back to school season - Comments are from the 3rd Annual B. Riley & Co. Consumer Conference.
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ACHN | Hot Stocks15:09 EDT RTW Investments reports 5.2% passive stake in Achillion
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IMAX | Hot Stocks15:03 EDT IMAX says signed more theater deals this year than anticipated
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HZNP | Hot Stocks15:03 EDT USPTO grants Lupin requests for reviews of Horizon Pharma patents - Lupin filed a request for an inter partes review of claims 1-15 of U.S. Patent No. 9,254,278 held by Horizon, which has been granted by the USPTO, according to a post to the office's website. Additionally, Lupin filed a request for an inter partes review of claims 1-15 of Horizon's U.S. Patent No. 9,326,966. The USPTO instituted a review of claims 1-11 and 13 but did not institute a review of claims 12, 14, and 15.
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LMT | Hot Stocks15:00 EDT Lockheed Martin raises share repurchase authorization by $2B - Lockheed Martin board of directors has authorized the purchase of up to an additional $2B of Lockheed Martin common stock under its share repurchase program. With this increase, the total remaining authorization for future repurchases under the share repurchase program is approximately $4B.
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IMAX | Hot Stocks14:54 EDT IMAX says nothing has changed with Wanda Cinema Line partnership - Comments are from the 3rd Annual B. Riley & Co. Consumer Conference.
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LMT | Hot Stocks14:43 EDT Lockheed Martin boosts quarterly dividend by 10% to $2.00 - Lockheed Martin said its board authorized a Q4 dividend of $2.00 per share, representing a 10% increase over the $1.82 per share dividend paid in Q3. The dividend is payable on December 29, to holders of record as of the close of business on December 1.
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AAL | Hot Stocks14:39 EDT American Airlines CEO says stock should be $70 - The American Airlines CEO is speaking in a CNBC interview.
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ALR ABT | Hot Stocks14:36 EDT Alere up 3.5% after U.S., Canada reach settlement with Abbott on acquisition
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OPXA | Hot Stocks14:30 EDT Avego Healthcare Capital reports 8.18% stake in Acer Therapeutics
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ALR... | Hot Stocks14:27 EDT Canada in pact with Abbott on Alere acquisition - The Competition Bureau announced today that it has reached an agreement with Abbott (ABT)Laboratories that resolves the Bureau's concerns related to Abbott's proposed acquisition of Alere (ALR). The agreement will preserve competition in the supply of medical diagnostic testing products in Canada.The Bureau's review of the proposed merger determined that it would likely result in a substantial lessening of competition in the supply of certain types of medical diagnostic testing products. In Canada, both Abbott and Alere sell point of care testing systems that are used to measure the levels of blood gases and cardiac markers in the blood. The Abbott system is called the i-STAT and the Alere systems are called the Epoc and Triage. The companies also manufacture versions of their i-STAT and Epoc systems for animal health.To resolve the Bureau's concerns, the agreement requires the sale of Alere's Epoc system to Siemens AG (SIEGY )and its Triage system to Quidel Corporation (QDEL), including related intellectual property. Upon a careful review, the Bureau determined that the sales to Siemens and Quidel would resolve the likely substantial lessening of competition. Given that Abbott and Alere's diagnostics businesses operate in many countries and the global nature of the transaction, the Bureau coordinated its review with other jurisdictions, including the European Commission and the U.S. Federal Trade Commission (U.S. FTC). The Bureau's strong relationships with these international counterparts led to an efficient review of this matter. The Bureau's coordination with the U.S. FTC was consistent with the agencies' agreement on Best Practices on Cooperation in Cross-Border Merger Investigations. The Bureau is satisfied that the agreement will preserve competition in Canada, including with respect to price and innovation, in the supply of bedside blood gas and cardiac marker testing systems for human health and point of care blood gas testing systems for animal health.
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LLY | Hot Stocks14:13 EDT FDA approves Eli Lilly breast cancer treatment Verzenio - The U.S. Food and Drug Administration announced it has approved Verzenio to treat adult patients who have hormone receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer that has progressed after taking therapy that alters a patient's hormones. Verzenio is approved to be given in combination with an endocrine therapy, called fulvestrant, after the cancer had grown on endocrine therapy. It is also approved to be given on its own, if patients were previously treated with endocrine therapy and chemotherapy after the cancer had spread. The FDA granted the approval of Verzenio to Eli Lilly.
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QDEL ALR | Hot Stocks14:02 EDT Quidel: FTC grants early termination of HSR waiting period for Alere deal - Quidel Corporation (QDEL) announced that it has received notice from the Federal Trade Commission granting early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to Quidel's pending acquisition of Alere Inc.'s (ALR) Triage B-type natriuretic peptide assay business run on Beckman Coulter analyzers. The acquisition of the BNP business by Quidel remains subject to the completion of Abbott's acquisition of Alere, as well as other regulatory approvals and other customary closing conditions. Quidel's acquisition of Alere's Triage MeterPro business is not affected by the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and remains subject to the completion of Abbott's acquisition of Alere, as well as regulatory approvals and other customary closing conditions.
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LLY | Hot Stocks13:53 EDT Eli Lilly receives FDA NDA approval for Verzenio
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TD | Hot Stocks13:46 EDT TD Bank chief risk officer Chauvin to retire, Bambawale named successor - TD Bank Group announced that Mark Chauvin, Group Head and Chief Risk Officer, TD has informed the bank of his intention to retire as CRO effective January 31, 2018, after more than 37 years with the bank. TD has named Ajai Bambawale, current Head and Chief Risk Officer of TD Bank, as Chief Risk Officer, TD Bank Group effective February 1, 2018, reporting to CEO Bharat Masrani. TD also announced that Mark Chauvin will remain with the Bank until March 1, 2018 to support this transition.
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GPRO | Hot Stocks13:42 EDT GoPro unveils HERO6 Black, Fusion spherical camera - GoPro unveiled HERO6 Black, "the most powerful and convenient GoPro, yet. Powered by GoPro's custom-designed GP1 processor, HERO6 achieves an entirely new level of performance including stunning 4K60 and 1080p240 video and the most advanced video stabilization ever achieved in a GoPro. GoPro also launched Fusion, its bar-setting waterproof, mountable 5.2K spherical camera. Additionally, GoPro introduced new mounts and accessories plus a new Follow mode for its Karma drone." "With stunning 4K60 and 1080p240 video packed into a rugged, waterproof, go-anywhere design, HERO6 Black and the GoPro App automatically transform your adventures into cinematic QuikStory videos you can share with the world. HERO6 also has dramatically improved dynamic range and low-light performance to really make things pop, and an added digital zoom just to get crazy." The HERO6 Black will retail for $499.99. "With its ability to capture immersive 5.2K spherical content, GoPro Fusion marks the beginning of a new creative era. Fusion captures everything around you so you'll never miss the shot, and gimbal-like stabilization makes it all shockingly smooth. Use the GoPro App to play back and share your footage as VR content or use the app's OverCapture feature to recapture and share your spherical shot as a traditional fixed perspective video." The Fusion will retail for $699.99.
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ALR ABT | Hot Stocks13:37 EDT Alere up 3% after FTC announces settlement for Abbott merger
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ABT... | Hot Stocks13:36 EDT Abbott, Alere agree to divestitures in settlement with FTC - Abbott Laboratories (ABT) and Alere (ALR) have agreed to a divestiture of two point-of-care medical device products line in order to settle Federal Trade Commission charges that Abbott's proposed $8.3B acquisition of Alere will cause harm to competition, the FTC said in a statement. Under the terms of a proposed settlement with the FTC, the companies will divest the rights and assets, including all related intellectual property, manufacturing technology, and confidential business information as follows" Alere's blood gas testing system will be divested to Siemens Aktiengelsellschaft; Alere's cardiac marker testing system will be divested to Quidel (QDEL). The parties must also divest Alere's two Ottawa, Canada facilities to Siemens, and Alere's San Diego, California facility to Quidel. The settlement requires the parties to complete the divestitures to Siemens and Quidel no more than 30 days after the proposed acquisition is finalized. Reference Link
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ADP... | Hot Stocks13:23 EDT Pershing Square highlights second in series of questions for ADP - Pershing Square Capital Management published a letter to shareholders highlighting the significant margin improvement that CDK Global (CDK) and Solera Holdings (SLH) achieved after their disposition by ADP (ADP). After separating from ADP, both CDK and Solera have delivered extraordinary increases in operating margins in only a few years. By examining the performance of CDK and Solera, investors can better understand the potential for improvement at ADP. The dramatic improvement in these businesses once they were no longer overseen by ADP's current board and management reflects the value that can be unlocked at ADP, which The Nominees for ADP's Transformation are committed to achieve. "Since our first presentation on August 17, 2017, ADP has yet to respond to the issues we have identified or the questions we have raised, including our first weekly question. Pershing Square published the second in a series of weekly public questions to ADP. We ask that ADP respond to both of these questions so shareholders can better understand ADP's potential. When ADP owned Dealer Services, it aimed to produce just ~50bps of annual margin improvement. When Dealer Services was spun-off as CDK, it promptly identified an opportunity to double margins without negative consequence to CDK's customers, shareholders or other stakeholders. Why was ADP not able to realize this opportunity when it owned CDK? CDK achieved this improvement by engaging constructively with shareholders, hiring an outside consultant to evaluate its potential, and announcing a transformation plan - why won't ADP do the same?"
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GPRO | Hot Stocks13:22 EDT GoPro CEO says unit sales now growing versus 2016 in higher priced products - Nick Woodman is speaking on CNBC.
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GPRO | Hot Stocks13:20 EDT GoPro CEO says HERO6 Black 'in another league' - Nick Woodman is speaking on CNBC.
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K | Hot Stocks13:15 EDT Muddy Waters says Kellogg scores 'relatively low' on 'economic reality meter' - Muddy Waters Research just tweeted, "Agree w/ @herbgreenberg accounting assessment. $K gets a relatively low score on the financial statement economic reality meter."
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PI AMZN | Hot Stocks12:59 EDT RFID-maker Impinj rallies after analyst sees new product positive - Shares of radio frequency identification, RFID, chip maker Impinj (PI) are continuing their recovery which started in late August. Today's rally follows a note from RBC analyst Mitch Steves. Steves' note was focused on the company's new Monza R6-A tag. The tag, which is specifically designed for the European retail market, will offer improved privacy, and will help in the company's European expansion, said the analyst. Steves kept his Outperform rating on the stock and noted that Impinj will need to add customers, execute on the delayed customers, or improve margin to see more price improvement in shares. Notably, the analyst said that this will most likely not happen in 2017. BACKGROUND: The company describes itself as a leading provider of RAIN RFID solutions. RAIN RFID is a wireless technology that connects billions of everyday items to the internet, enabling businesses and consumers to identify, locate, authenticate, and engage each item. The Impinj platform is made up of both hardware and software and uses RAIN RFID to wirelessly connect everyday items to the internet, delivering digital life to the physical world. IMPINJ AND AMAZON: Impinj shares saw a boost beginning in late 2016 after online retail behemoth Amazon (AMZN) announced a new store concept Amazon Go. Amazon said at the time that it's "a new kind of store with no check-out required... In fact, RAIN RFID can improve inventory visibility by more than 25%." AUGUST BREAKDOWN: The first couple of weeks of August saw an almost 40% decimation of share price for Impinj after the company cut its 2017 order volume guidance, citing customer delays. With its Q2 financial report, the company gave tepid guidance for Q3 and a less robust product view for the year. Founder and CEO Chris Diorio noted that the company will be adversely impacted by setbacks "in planned roll out expansions at several large end customers." The slowdown will result in fewer items being tagged with the company's tracking chips. "We are revising our 2017 full-year endpoint IC estimated to be between 7B to 7.2Bunits," said Diorio in a statement. LATE AUGUST RECOVERY: On the evening of August 23, the Federal Trade Commission approved Amazon's acquisition of Whole Foods Market (WFM), which was announced two months before. Shares of Impinj closed up almost 11% the next day and have tagged on another 15% since then. PRICE ACTION: Shares of Impinj are up almost 5% to $41.00 in early afternoon trading.
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NFLX | Hot Stocks12:59 EDT Netflix to invest 'at least' C$500M in original productions in Canada - Canada's Minister of Canadian Heritage and Netflix announced an agreement that will see the company create Netflix Canada - a first of its kind production company for Netflix outside of the United States - and invest a minimum of C$500M in original productions in Canada over the next five years. The agreement includes, among others, the following undertakings by Netflix: Establishing a permanent, multi-purpose film and television production presence here in Canada, the first time that the company has done so outside the United States as well as investing at least C$500M over the next five years in original productions in Canada that will be distributed across Netflix's global platform. As part of this investment, Netflix will continue to work with Canadian producers, production houses, broadcasters, creators and other partners to produce original Canadian content in both English and French. The company will also support Canadian French-language content on the Netflix platform through a market development strategy for Canada. Centered on a C$25M investment, this strategy will include "pitch days" for producers, recruitment events and other promotional and market development activities. In addition, Netflix will ensure that Canadians and Netflix members around the world find Canadian films and television shows on the Netflix Service by highlighting and promoting those productions on its global platform. Reference Link
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AAL | Hot Stocks12:15 EDT American Airlines says guidance change will focus more on long term view
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AAL | Hot Stocks12:12 EDT American Airlines says will no longer provide monthly traffic guidance
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AAL | Hot Stocks12:09 EDT American Airlines says 're-fleeting' initiative has increased its leverage - The company will keep a higher cash balance due to this increased leverage.
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SCG | Hot Stocks12:06 EDT South Carolina Electric & Gas files motion to dismiss with South Carolina - Scana disclosed in a regulatory filing that South Carolina Electric & Gas Company today filed a Motion to Dismiss and Request for Briefing Schedule and Hearing on Motion to Dismiss with the Public Service Commission of South Carolina. The motion reads in part, "The grounds for this motion are that the Request seeks relief which is illegal and unconstitutional and outside the statutory powers of the Public Service Commission of South Carolina. SCE&G requests that the Commission comply with its binding regulations and provide for this motion to be heard after due notice to ORS and other parties and to that end, establish a timetable for briefing and argument. Given that the Commission has set the Request for consideration during a specially called meeting less than 48 hours following the filing of the Request, SCE&G requests that it be given a reasonable time to brief the issues presented to the Commission by this Motion to Dismiss before any action on it or the underlying Request is taken." Reference Link
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LGF.A LGF.B | Hot Stocks12:05 EDT Lionsgate, Parques Reunidos to open indoor entertainment center in Times Square - Lionsgate and Parques Reunidos, a leisure park operator, have kicked off their strategic partnership by announcing their first Lionsgate branded indoor entertainment center, set to open in New York City's Times Square in 2019. Lionsgate Entertainment City will feature attractions built around multiple iconic Lionsgate film and television properties including Mad Men, The Hunger Games and the most recent installment of the John Wick franchise. It will be located in the heart of a Times Square neighborhood that attracts over 50 million visitors annually and is the first of several branded indoor entertainment centers that the two companies are planning for high traffic urban areas in major U.S. and European cities.
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PERY | Hot Stocks12:01 EDT Perry Ellis, Guy Harvey enterprises sign global licensing agreement - Perry Ellis International and Guy Harvey Enterprises announced the signing of an exclusive global licensing agreement for Guy Harvey apparel, which features the colorful, iconic ocean-inspired artwork of world-renowned artist, conservationist, scientist and entrepreneur Dr. Guy Harvey. The licensing agreement takes effect in 2019. Perry Ellis International will manufacture, distribute and market the Guy Harvey fashion collection including men's, women's and youth T-shirts, performance fishing and resort wear, caps and visors. The collection will be available at select department, sporting goods, and specialty stores as well as online. Through his apparel, art and merchandise, Dr. Harvey brings the undersea world to everyday life in order to inspire the world to be better stewards of ocean resources and help save the seas for future generations. As part of the agreement, Perry Ellis International also will contribute 1% of revenue from Guy Harvey apparel to the Guy Harvey Ocean Foundation, founded by Dr. Harvey to help conserve the marine environment.
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TIME | Hot Stocks12:01 EDT Time Inc.'s Essence, TV/video production units partner with Macro - Time Inc.'s ESSENCE and the company's television and video production unit, TIME INC. PRODUCTIONS, have formed a multi-platform partnership with Charles D. King's MACRO to develop and produce a television documentary and video project aimed at the multicultural audience. The partnership was announced today by Bruce Gersh, SVP of Business Development and Strategy for Time Inc. and King, Founder and CEO of MACRO. The first project of the new partnership, "I Turn My Camera On," the 10-part digital video series from MACRO Digital Studio sponsored by L Studio, is slated for an October 4, 2017, premiere on multiple platforms including ESSENCE.com and PEOPLE TV, and will be extended to Instagram, YouTube, Facebook and Twitter.
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AAL | Hot Stocks11:58 EDT American Airlines doesn't have 'big plans' to grow fleet over next five years - Comments from American Airlines Group Media and Investor Day.
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ALR | Hot Stocks11:53 EDT Alere agrees to pay $13M in SEC settlement - Alere announced that it has reached a settlement with the United States Securities and Exchange Commission in connection with the SEC's previously disclosed investigation. The SEC investigation primarily involved certain accounting and other matters occurring at foreign subsidiaries previously acquired by the company. Alere issued the following statement, "We have cooperated with the SEC and we are pleased to fully resolve this matter." Under the terms of the settlement, Alere agreed to pay approximately $13M to the SEC and consented to the entry by the SEC of an administrative cease-and-desist order, issued by the SEC, without admitting or denying the findings in the order.
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ALR | Hot Stocks11:52 EDT SEC says Alere to pay over $13M to settle accounting fraud charges - A Massachusetts-based medical manufacturer has agreed to pay more than $13M to settle charges that it committed accounting fraud through its subsidiaries to meet revenue targets and made improper payments to foreign officials to increase sales in certain countries. The Securities and Exchange Commission issued an order finding that the South Korean subsidiary of Alere Inc., which produces and sells diagnostic testing equipment, improperly inflated revenues by prematurely recording sales for products that were still being stored at warehouses or otherwise not yet delivered to the customers. According to the SEC's order, Alere also engaged in improper revenue recognition practices at several other subsidiaries. The SEC's order also finds that Alere subsidiaries in India and Colombia obtained or retained business by using distributors or consultants to make improper payments to officials of government agencies or entities under government control. Alere failed to maintain adequate internal controls to prevent the payments, and the company inaccurately recorded the payments in its books and records. In consenting to the SEC's order without admitting or denying the findings, Alere agreed to pay disgorgement of ill-gotten gains totaling $3,328,689 plus interest of $495,196 and a penalty of $9.2M.
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DXCM ABT | Hot Stocks11:37 EDT Dexcom plunges after competing glucose monitoring system approved - Shares of Dexcom (DXCM) are sliding after Abbott Laboratories (ABT) announced that the Food and Drug Administration has approved its FreeStyle Libre Glucose Monitoring System. Several analysts commented on the news this morning, with JPMorgan, Raymond James and Northland downgrading Dexcom to Neutral-equivalent ratings. LIBRE FDA APPROVAL: Last night, Abbott announced that the FDA has approved the FreeStyle Libre Flash Glucose Monitoring System as a replacement for blood glucose monitoring for adults with diabetes in the U.S. This new glucose sensing technology eliminates the need for routine finger sticks and is the only personal continuous glucose monitor that does not require finger stick calibration, the company stated. The FreeStyle Libre reads glucose levels through a sensor that is worn on the back of the upper arm for up to 10 days, making it the "longest lasting personal glucose sensor available in the U.S.," the company added. STREET REACTION: Following the announcement, Barclays analyst Matthew Taylor told investors that the FDA approval came a bit earlier than consensus expectations with a significantly better than expected label as it allows for dosing or a replacement claim. The analyst noted that he believes Abbott's entry into the U.S. market with this label could be disruptive. Further, Taylor argued that Libre could be both market expanding for glucose monitoring devices and take share from other players, including Dexcom. The analyst reiterated an Overweight rating on Abbott's shares and raised his price target on the stock to $60 from $57. DEXCOM DOWNGRADES: Meanwhile, his peer at JPMorgan downgraded Dexcom to Neutral from Overweight, pointing out that Libre's label came in better than expected, Abbott's pricing strategy is even more aggressive than thought, and an aggressive Abbott commercial strategy with the five largest pharmacies is already lined up for distribution starting in December. While not "game over" for Dexcom's CGM, the approval introduces low priced competition into the MDI segment of the population where the company was previously the sole competitor, analyst Michael Weinstein contended. He lowered his price target on Dexcom's shares to $71 from $93. His peer at Raymond James also downgraded Dexcom to Market Perform from Outperform, citing increased competitive concerns. Analyst Jayson Bedford noted that Abbott's approval was expected, but the broader label was not. Bedford expects Libre to receive Medicare reimbursement and for Abbott to be more aggressive on pricing, impacting DexCom's growth outlook. Additionally, Northland analyst Suraj Kalia downgraded Dexcom to Market Perform and lowered his price target on the stock to $60 from $85. Like his peer, the analyst sees Libre's concomitant nonadjunctive to fingersticks label as a surprise that removes a key competitive advantage for Dexcom. WILLIAM BLAIR MORE POSITIVE ON DEXCOM: Also commenting on the news, William Blair analyst Margaret Kaczor argued that while she did not think Abbott's Libre would receive a dosing claim given the product's "inferior accuracy," it still lacks Dexcom's alerts and alarms that proactively protect the patient from glycemic excursions. Libre's dosing may shift the competitive dynamic "modestly in Abbott's favor versus Street expectations," but more importantly, its approval should be market expansive as it creates a new type of glucose monitoring category in the U.S., Kaczor contended. The analyst believes Dexcom will retain a "material technological and brand advantage." PRICE ACTION: In morning trading, shares of Abbott have gained over 4% to $54.28, while Dexcom's stock has plunged over 36% to $42.95.
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TWTR... | Hot Stocks11:23 EDT Twitter policy VP briefing Congress on Russia, 2016, Recode's Romm says - Recode's Tony Romm tweeted this morning, "Twitter (TWTR) policy VP Colin Crowell just entered the classified, closed-door meeting with Senate Intel staff to talk Russia and 2016. Twitter declined to answer questions about their upcoming presentation to congressional aides. More soon." The Fly notes that a number of publications have reported that the Senate Committee is asking Twitter, Facebook (FB) and Google (GOOG, GOOGL) to testify at a hearing on November 1. Reference Link
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PME | Hot Stocks11:13 EDT Pingtan lower after Caixin links to illegal wildlife transport - Shares of Pingtan Marine Enterprise are lower after China's Caixin linked the company to Fuzhou Honglong, whose ships were found illegally transporting endangered species like baby sharks and scalloped hammerhead. Caixin's investigation revealed that ship owner Fuzhou Honglong Ocean Aquatic Products has close links to Pingtan and that the largest stakeholders of the two companies are members of the same family. Shares of Pingtan Marine are down 16%, or 45c, to $2.38 in morning trading. Reference Link
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BA | Hot Stocks11:02 EDT Boeing reports 58 new orders in weekly update - Boeing on its website announced 58 new orders, from unidentified customers for 58 737s. Year to date information: 737 net orders: 62 NG and 296 MAX; 777 net orders: 23 777 and 20 777X.
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MCD | Hot Stocks10:52 EDT McDonald's up after Longbow predicts better than expected U.S. sales - McDonald's (MCD) U.S. comparable sales are set to exceed expectations this quarter, predicted research firm Longbow, which also upgraded the shares to Buy from Hold. U.S. OUTLOOK: After Longbow conducted checks, Alton Stump, an analyst at the firm, estimated that McDonald's comparable sales rose 4%-4.5% this quarter. According to Stump, analysts were on average looking for an increase of just 3.5%. POSITIVE CATALYSTS: McDonald's beverage promotion continued to increase its year-over-year comp sales by 1.5 to 2 percentage points this quarter, the analyst stated. Meanwhile, its Signature Crafted sandwiches increased the average amount spent by its customers by 1.5 percentage points, and its Sriracha Big Mac, launched in late July, "sold surprisingly well," wrote Stump. TARGET: McDonald's short-term and long-term outlook are favorable and the stock should trade at a higher multiple than its historical average, given the company's "ongoing turnaround" in the U.S. and overseas, Stump stated. He set a $183 price target on the name. MSCIENCE ON OTHER SIDE: On September 12, another research firm, MScience, said it was cautious about McDonald's Q3 results after it conducted its own channel checks. PRICE ACTION: In morning trading, McDonald's rose 2% to $157.49 per share.
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UTX | Hot Stocks10:43 EDT United Tech's Otis Elevators selected for Riyadh Metro - Otis Saudi Arabia has been selected for the Riyadh Metro - lines 4, 5 and 6 - by FAST Consortium of companies, which is led by Spanish construction group FCC and includes partners Samsung C&T, Alstom, Strukton, Freyssinet Saudi Arabia; and is contracted by the High Commission for the Development of Arriyadh. Otis is a unit of United Technologies Corp. Otis will supply 256 escalators, 6 moving walkways, and 183 machine room-less elevators with travel speeds up to 1.0 meter per second, including fully glazed panoramic elevators. The heavy-duty escalators are specifically designed for public transportation. The scope awarded to Otis comprises of all elevators and escalators within the three lines of the metro for all stations across Riyadh, two train depots, and three car parking facilities over a total area of 72 kilometers. Otis, which operates in Saudi Arabia as Otis Elevator Company Saudi Arabia Limited is part of a joint venture between Otis Elevator Company and E.A. Juffali & Brothers in the Kingdom of Saudi Arabia.
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AMZN... | Hot Stocks10:42 EDT Analyst sees Amazon disrupting retail pharmacy industry - In a research note this morning, Bernstein analyst Lance Wilkes told investors that he expects Amazon (AMZN) to enter the retail pharmacy industry, which leaves him increasingly concerned it will negatively impact Pharmacy Benefit Manager, or PBM, earnings levers. AMAZON TO DISRUPT RETAIL PHARMACY: Amazon will enter the retail pharmacy industry, especially because it is a large and disruptable market, Bernstein's Wilkes told investors, adding that he believes Amazon is well positioned to address/impact the major customer issues in this market. Wilkes sees the retail pharmacy sector as a $300B market with potential margins in the high single digits, and believes the barriers to online/mail adoption have been poor user interface and insufficient cost savings to motivate consumers to switch to online/mail. Amazon can disrupt retail pharmacy given the operating expense efficiencies of a centralized online model, he argued, while noting that the major advantages come from eliminating 70,000 retail locations, which could be replaced by automated distribution centers with efficient pharmacist oversight. Further, the analyst pointed out that Amazon could further lower prices if it is willing to sacrifice margin to gain scale. In terms of strategic options, Wilkes argued that the e-commerce giant could either partner with large PBMs, such as UnitedHealth's (UNH) OptumRx or Cigna (CI), or disrupt both the PBM and retail pharmacy model through buying a smaller transparent PBM or creating a carve-out online option for MCOs and employers. The analyst believes OptumRx, along with other MCO owned PBMs, are the most logical partner, and thinks MedImpact or RiteAid's (RAD) EnvisionRx are the most logical targets. Additionally, Wilkes noted that the innovation of utilizing Amazon would be consistent with UnitedHealth's innovative approaches in other consumer engagement areas. Overall, the analyst sees Amazon's entry as negative for independent pharmacies, somewhat negative for national pharmacies and distributors, and a long term negative for PBMs. Publicly traded owners of PBMs include Express Scripts (ESRX), UnitedHealth, and CVS Health (CVS). PERRIGO OPPORTUNITY: Commenting on the specialty pharmaceuticals sector, Morgan Stanley analyst David Risinger told investors in a research note of his own that after thinking through Perrigo's (PRGO) opportunity to grow with Amazon, he does not expect much of an incremental sales opportunity. Online purchases will likely cannibalize existing Perrigo sales via traditional retailers, he argued. Amazon currently sells Perrigo's GoodSense low-cost brand and Risinger sees it as possible that Amazon eventually develops its own brand and sources private label products from Perrigo and others, which would also likely cannibalize GoodSense. The analyst reiterated an Equal Weight rating on Perrigo's shares. PRICE ACTION: In morning trading, shares of Amazon are fractionally up to $950.90. Shares of Express Scripts and UnitedHealth are also fractionally up to $63.19 and $194.96, respectively, while CVS is fractionally down to $81.21.
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PETS | Hot Stocks10:39 EDT PetSmart introduces PetSmart Pharmacy online-only pharmacy - PetSmart announced the introduction of PetSmart Pharmacy, a new online-only pharmacy that offers convenient ordering and autofill for hundreds of prescriptions, Over The Counter medications and veterinary diet prescription pet food, combined with a home delivery service. PetSmart Pharmacy aims to provide easier, more affordable options for pet parents to care for their pet's total health and wellness. Petmed Express, a pet pharmacy, is down 3.7% to $34.65 in morning trading.
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HAIN RCII | Hot Stocks10:28 EDT Hain Celestial board overhaul fuels added sale speculation - Shares of Hain Celestial (HAIN), an organic and natural products company, jumped in morning trading after the company reached an agreement with an activist investor on changes to its board and entered into a mutual cooperation agreement under which it will form a group to examine strategic alternatives. ENGAGED AGREEMENT: Hain Celestial stated this morning that it has reached an agreement with Engaged Capital for changes to its board. As part of the agreement, Hain said it will nominate six new directors, including Celeste Clark, Dean Hollis, Shervin Korangy, Jack Sinclair and Dawn Welling, to the board, while three of the company's current directors will not stand for reelection at the annual meeting. Additional, as per the terms of the agreement, Engaged Capital founder Glenn Welling will also join Hain's board. Hain plans to hold its 2017 annual meeting on November 16. REVIEWING ALTERNATIVES: In a regulatory filing discussing the deal with Engaged, Hain said it will form a working group of the board to work with an advisor to review the company's portfolio of businesses, brands and operating strategy. The group will also evaluate alternatives to create shareholder value. The members of the Working Group will be Hain's president, chief executive officer and chairman Irwin Simon, lead independent director Andrew Heyer, as well as Welling and Korangy. In June, Engaged reported a 9.9% stake in Hain, making it the company's largest shareholder. The activist investor, which had recently won a similar battle against Rent-A-Center (RCII), urged Hain to add directors with more food-industry experience, more-closely align executive compensation with performance, reduce costs and consider a sale. According to a report in The Wall Street Journal, Hain is working with Centerview Partners to help with the review, which could lead to a full or partial sale of the company. HAIN NOT FOR SALE: Hain Celestial is not for sale, CNBC's David Faber reported earlier. Though the company would be open to takeover approaches, Faber said the company is not running an auction or shopping itself. ANALYST COMMENTARY: Commenting on today's news, Wells Fargo analyst John Baumgartner, who has a Market Perform rating and $42 price target on Hain, concluded that an asset unwind will likely present the best path to maximizing value given the company's "disparate" portfolio, competition and "sizeable" price tag even before a bid premium. According to the analyst, the "pieces" of Hain are "worth more than the sum." Jefferies analyst Akshay Jagdale said his initial reaction is "positive," as it removes the overhang of a potential proxy fight. The analyst noted that management previously mentioned that it was conducting a periodic strategic review and that it would be open to "pruning" the portfolio if it made sense. PRICE ACTION: Hain is up about 1% to $40.71 in morning trading, off earlier highs.
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STAA | Hot Stocks10:21 EDT STAAR Surgical says Deborah Andrews resumes role as CFO - STAAR Surgical Company announced that Deborah Andrews, Interim CFO, has agreed to resume her role as CFO for the company -- held previously from 2007-2013. Joining Deborah's team as VP, Global Financial Planning & Analysis is Surindra Mann. Both appointments become effective October 2.
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RHHBY | Hot Stocks10:18 EDT Roche announces CE label expansion for PD-L1 assay - Roche announced the expanded use of the VENTANA PD-L1 Assay in non-small cell lung cancer and metastatic urothelial carcinoma in CE markets where the Roche cancer immunotherapy medicine TECENTRIQ is approved. This unique assay evaluates patient PD-L1 status using immune cell and tumor cell staining within the tumor microenvironment, providing clinicians with information that may guide treatment decisions. It was previously approved by the U.S. FDA as a complementary diagnostic to provide PD-L1 status on patients with NSCLC and mUC who are considering treatment with TECENTRIQ.
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JBLU | Hot Stocks10:15 EDT JetBlue launches 100x35JetBlue commitment to Puerto RIco hurricane relief - JetBlue announced a multifaceted program to support both short-term relief and long-term recovery efforts on the island following the destruction from Hurricane Maria. 100x35JetBlue outlines the airline's commitment to launching 35 initiatives over the next 100 days - and beyond - to support the needs of crewmembers, customers, and communities in Puerto Rico. Honoring the popular reference to Puerto Rico's 100x35 mile size, the effort will roll out programs across the island to provide airlift support, relief pricing, awareness and fundraising, people deployment, unmet needs, and rebuilding efforts. JetBlue is currently operating six daily flights in Puerto Rico with more to come as infrastructure allows. Since Hurricane Maria made landfall, JetBlue has continued to serve those in Puerto Rico by donating $1 million in supplies, airlifting more than 3,000 customers over 21 flights from San Juan and Aguadilla through Sept. 27, and transporting more than 100,000 pounds of supplies to the island. JetBlue's support has also touched hurricane-impacted areas across the Caribbean, South Florida, and Texas.
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CAG | Hot Stocks09:48 EDT Conagra Brands will continue pursuit of 'value-enhancing' M&A - Says looking for opportunities that are modernizing and synergistic. Says its seeks opportunities with attractive top-line and that will be accretive to margin. Says will continue to divest assets strategically.
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CAG | Hot Stocks09:44 EDT Conagra Brands remains on track to improve top-line, expand margins - Says well-positioned for long-term value creation. Says sentiment surrounding industry laced with pessimism but management is optimistic. Says margin expansion will continue to be core pursuit. Says Q1 was "strong start." Say sales trend improvement is accelerating. Comments taken from Q1 conference call.
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MHLD | Hot Stocks09:39 EDT Maiden Holdings sees Q3 impact from hurricanes $8M-$31M - Maiden Holdings announced its initial estimate of net loss exposure to the impact of all third quarter 2017 catastrophe activity to be in the range of $8M-$31M. Maiden expects no third quarter earthquake losses and no impact from Hurricane Maria. Commenting on the recent catastrophe activity, Art Raschbaum, President and CEO of Maiden said, "Our thoughts and prayers go out to the many people impacted by these devastating events. It is important to note that Maiden is not a participant in the catastrophe reinsurance market and consistent with Maiden's strategy of focusing on non-catastrophe business, the Company expects a modest level of losses from the significant storms occurring during the third quarter of 2017. Across Maiden's entire portfolio, internal catastrophe modeling and specific account-by-account analyses suggests, at this time, that hurricane related losses will have a modest impact on Maiden's 2017 combined ratio. As the expected results from these hurricanes suggest, aggregation of all property exposures are carefully managed to mitigate the impacts of catastrophes on the Company's earnings and balance sheet."
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RAD | Hot Stocks09:33 EDT Rite Aid: 'At some point the pharmacy margin has to stabilize'
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RAD MCK | Hot Stocks09:23 EDT Rite Aid says has opportunities 'we couldn't even consider before' - Rite Aid (RAD) sees opportunities to put money back in the business, "a lot of different directions we can go." Says primary focus is to get momentum back in core business. Says contract with McKesson (MCK) goes through end of March 2019, says in conversations about how relationship will work going forward.
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BBRY... | Hot Stocks09:21 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: BlackBerry (BBRY), up 5.9%... McCormick (MKC), up 2.7%... Conagra Brands (CAG), up 2%... Thor Industries (THO), up 4.2%. ALSO HIGHER: Hain Celestial (HAIN), up 6.4% after entering into a cooperation agreement with Engaged Capital... AbbVie (ABBV), up 2.1% after announcing the resolution of Humira patent disputes with Amgen (AMGN). DOWN AFTER EARNINGS: Rite Aid (RAD), down 8.8%... Vail Resorts (MTN), down 4%... Accenture (ACN), down 2.6%... Ferrellgas Partners LP (FGP), down 3.1%. ALSO LOWER: Sherwin-Williams (SHW), down marginally after reducing its guidance.
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AMZN | Hot Stocks09:20 EDT Amazon to open fufillment center in Euclid, Ohio creating 1,000 jobs - Amazon.com announced plans to open its fifth Ohio fulfillment center in Euclid, which will create more than 1,000 full-time positions. The company recently announced upcoming fulfillment centers in Monroe and North Randall, and it currently operates fulfillment centers in Etna and Obetz. Associates at the 650,000-square-foot facility will pick, pack and ship customer items such as electronics, books, housewares and toys. Full-time employees at Amazon receive competitive hourly wages and a comprehensive benefits package, including healthcare, 401(k) and company stock awards.
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AWK | Hot Stocks09:18 EDT American Water awarded contract for Wright-Patterson Air Force Base - American Water Works Company announced that its Military Services Group has been awarded a contract for ownership, operation and maintenance of the water and wastewater systems at Wright-Patterson Air Force Base in Ohio. According to the contract, the award revenue is estimated at approximately $490M over a 50-year period. The contract will be subject to an annual economic price adjustment.
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BAH | Hot Stocks09:17 EDT Booz Allen awarded $87.2M contract by Naval Aviation Enterprise - The Naval Aviation Enterprise, a partnership led by the U.S. Navy and Marine Corps, ensures the Navy's ability to maintain current readiness and identify and incorporate future warfighting capabilities. To support this mission, the Navy has awarded Booz Allen Hamilton a $87.2M cost-plus-fixed fee, indefinite delivery contract to provide technical, analytical and managerial support. Booz Allen will help the NAE foster a collaborative environment between Naval Aviation stakeholders to ensure that warfighting requirements are maintained while working to identify and address maintenance, manpower and training issues affecting readiness--reducing costs where possible.
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CVX | Hot Stocks09:17 EDT Chevron names Michael Wirth as chairman and CEO, suceeding John Watson - Chevron Corporation announced that its Board of Directors elected Michael K. Wirth chairman of the board and CEO, effective February 1, 2018. Wirth, who is currently vice chairman of the board and executive vice president of Midstream and Development, succeeds John S. Watson, who will retire from the company and its board on February 1, 2018, after 37 years of distinguished service, including eight years as chairman and CEO. Wirth was named vice chairman of the board of directors in February 2017. He is also executive vice president of Midstream and Development, a position he has held since 2016. Previously, he was executive vice president of Downstream & Chemicals for nearly a decade. Prior to that he served as president of Global Supply and Trading and president of Marketing for Chevron's Asia/Middle East/Africa business, based in Singapore. He also served on the board of directors for Caltex Australia Limited and GS Caltex in South Korea. In a related move, Watson said that Mark A. Nelson will become vice president of Midstream, Strategy & Policy, effective February 1, 2018. In his new role, Nelson will be responsible for the company's supply and trading, shipping, pipeline and power operating units. He will also oversee corporate strategy, as well as policy, government and public affairs.
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JAGX | Hot Stocks09:16 EDT Napo Pharmaceuticals files CMC supplement with FDA for Mytesi - Jaguar Health announced that its wholly-owned subsidiary, Napo Pharmaceuticals has filed a Chemistry, Manufacturing, and Controls supplement with the U.S. Food & Drug Administration for six-tablet bottles of Mytesi, Napo's FDA-approved human drug, in preparation for Napo's planned national sample campaign. Mytesi is approved by the U.S. FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. Jaguar and Napo are pursuing a follow-on indication for Mytesi in chemotherapy-induced diarrhea, an important supportive care indication for patients undergoing primary or adjuvant chemotherapy for cancer treatment. Mytesi is also in development for rare disease indications for infants and children with congenital diarrheal disorders and short bowel syndrome; for irritable bowel syndrome; for supportive care for inflammatory bowel disease; and as a second-generation anti-secretory agent for use in cholera patients. Mytesi has received orphan-drug designation for SBS. The planned sample bottles will contain enough Mytesi tablets for three days of use. To implement the filing, Napo produced stability data in support of a one-year shelf life for the contents of the sample bottles.
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CVX | Hot Stocks09:16 EDT Chevron names Michael Wirth as chairman and CEO, suceeding John Watson
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PTCT | Hot Stocks09:12 EDT PTC Therapeutics trading halted, news pending - The FDA Peripheral & Central Nervous System Drugs Advisory Committee will hold a meeting today to discuss PTC Therapeutics' New Drug Application for ataluren for treatment of patients with dystrophinopathy due to a nonsense mutation in the dystrophin gene.
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IBM | Hot Stocks09:11 EDT IBM partners with UC San Diego Artificial Intelligence for Healthy Living Center - IBM and the University of California San Diego have announced a multi-year project to enhance quality of life and independence for aging populations through the new Artificial Intelligence for Healthy Living Center, located on the campus of UC San Diego. The center will bring together the technology, artificial intelligence and life sciences knowledge of IBM and UC San Diego to promote critical research and applications in two thematic areas: Healthy Aging and the Human Microbiome. The collaborative research initiative will use AI to comb through massive amounts of data to enable healthier living. Funds will be used to support faculty research; trainee stipends including opportunities for UC San Diego graduate and undergraduate students; administrative support; equipment; and corporate affiliation.
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TOSBF TOSYY | Hot Stocks09:10 EDT Westinghouse, Turboatom sign extended partnership contract - Westinghouse Electric Company announced that it has signed an extended Memorandum of Understanding with Ukrainian company PJSC Turboatom, in partnership to coordinate and cooperate on increasing the capacity of Ukraine's nuclear power plants. Turboatom is engaged in designing and manufacturing turbines for nuclear, thermal and hydro power plants.
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FOR | Hot Stocks09:09 EDT Forestar Group trading halted, news pending
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TKPYY | Hot Stocks09:08 EDT Takeda Pharmaceutical, SGC announce collaboration agreement in IBD - Takeda Pharmaceutical, Karolinska Institutet and The Structural Genomics Consortium announced a combined pre-competitive and proprietary collaboration to discover and validate new potential intervention points for the treatment of Inflammatory Bowel Disease. The agreement establishes a translational medicine research team of scientists and clinicians from Takeda, Karolinska University Hospital and SGC, which will develop advanced translational disease models from patient-derived tissue samples from a large and well-characterized IBD patient cohort. These industry-standard assays will be used to test high quality chemical probes from the SGC, as well as compounds from Takeda, allowing scientists to interrogate previously unexplored cellular targets and pathways in these diseases of substantial need, including Ulcerative Colitis and Crohn's Disease. Under the terms of the agreement, Takeda will provide funding for these research studies over a three-year period. In the pre-competitive arm of the collaboration, KI, SGC and Takeda will make all reagents and knowledge available to the research community without restriction on use to maximize the impact of the collaboration. In the proprietary arm of the collaboration, study outcomes will be exclusively for Takeda, and may allow the company to link patients to drug candidates, identify new patient subpopulations or assess the underlying biological mechanisms contributing to the initiation and progression of IBD.
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SNX | Hot Stocks09:07 EDT Synnex, OutSystems partner to extend access for low-code app development - OutSystems announced a collaboration with SYNNEX, one of the leading IT distributors.The agreement provides OutSystems with a new distribution channel in the United States, Canada, and Mexico. It also enables SYNNEX to offer customers and partners direct access to the industry-leading, low-code platform for digital and application transformation, as recognized by Gartner and Forrester. The collaboration adds more than 20,000 resellers to the growing OutSystems distribution network, as well as provides a vehicle for end users to speed up their integrations. Being an approved vendor in the SYNNEX reseller ecosystem enables customers to eliminate paperwork, streamline onboarding and start building quality apps more quickly. Working with SYNNEX also helps OutSystems build brand awareness, giving the company a chance to educate resellers, technology vendors, systems integrators and their customer bases about low-code and digital modernization.
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AMZN TM | Hot Stocks09:05 EDT Toyota Racing Development selects Amazon Web Services for cloud services - Amazon Web Services, an Amazon.com company (AMZN), announced that Toyota Racing Development (TM), the in-house engineering division for Toyota and Lexus motorsports programs, has gone all-in on AWS. Building its race intelligence system on the cloud with the most functionality has helped TRD's teams win NASCAR races. TRD uses AWS's industry-leading cloud services to create mission-critical applications that enable its crews to improve precision, consistency, and speed during practice runs and in competition. These race intelligence applications collect data from vehicles and their environments and apply real-time analytics and machine learning to better understand how a vehicle may handle on any track under any circumstance.
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BFA... | Hot Stocks09:05 EDT Brown Forman names Lawson Whiting as COO - Brown-Forman announced the promotion of Lawson Whiting to the position of COO effective October 1, overseeing the company's regional operations, global production, and corporate responsibility functions, reporting to Chairman and CEO Paul Varga. A 21 year veteran of Brown-Forman, Whiting previously held positions encompassing finance, investor relations, brand and regional leadership, strategy, acquisitions & divestitures, and corporate responsibility. Whiting, has served as EVP and Chief Brands and Strategy Officer since February 2015. While not recently in use, the COO position is one that Brown-Forman has utilized at various times over the last 30 years, depending on the company's organizational structure and needs.
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FTFT | Hot Stocks09:04 EDT Future FinTech holds signing ceremony for IB-LIVE provincial agents in China - Future FinTech held a signing ceremony of 'IB-LIVE' provincial agents by GlobalKey Supply Chain, a wholly owned subsidiary of the company, in Xi'an, Shaanxi Province, China. GlobalKey Supply Chain had previously signed a License Agreement with Shaanxi Entai Bio-Technology Co. to serve as the sole global general distributor and operational platform for 'IB-LIVE' with responsibility for marketing, sales, publicity and distribution. 'IB-LIVE' is a group of products for improving male sexual health. The company estimates that sales of the 'IB-LIVE' product could reach RMB30M in Q4 and approximately RMB200M in FY18.
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SQ | Hot Stocks09:02 EDT Square partners with Eventbrite, invests $25M - Square announced a strategic partnership with Eventbrite, in which Square will drive Eventbrite's payments systems, including online, mobile, and in-person transactions. Additionally, to support Eventbrite's vision to power the world's largest platform for live experiences, Square has invested $25M in the company.
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HSII | Hot Stocks09:02 EDT Heidrick & Struggles to acquire Amrop Denmark, terms not disclosed - Heidrick & Struggles has entered into an agreement to acquire Amrop Denmark, the leading executive search and leadership consulting firm in Denmark. The acquisition is expected to close December 31, 2017. All five Amrop Denmark partners are expected to join Heidrick & Struggles' Copenhagen office as partners. The combined organization is expected to become the largest leadership advisory firm in the Danish market with nine client-facing consultants and a total of 37 employees
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KKR | Hot Stocks09:00 EDT KKR completes majority acquiisiton of Nature's Bounty - KKR closed the transaction with Nature's Bounty, a global manufacturer, marketer and distributor of health and wellness products. KKR is now the majority owner of Nature's Bounty. Equity capital for the transaction was primarily provided from KKR's Americas XII fund. Effective upon the transaction close, consumer healthcare veteran Paul Sturman will assume the role of CEO of Nature's Bounty. Sturman succeeds Steve Cahillane, who is stepping down to pursue another opportunity.
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TNC GK | Hot Stocks09:00 EDT Tennant names Jeffrey Cotter general counsel - Tennant Company (TNC) announced the appointment of Jeffrey Cotter as SVP, general counsel and corporate secretary, effective September 25. Cotter replaces Heidi Wilson who announced her retirement earlier this year. Most recently, Cotter served as VP, general counsel, and corporate secretary of G&K Services (GK), where he oversaw all legal affairs of the publicly traded company.
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OLBK BYBK | Hot Stocks08:57 EDT Old Line Bancshares to acquire Bay Bancorp - Old Line Bancshares (OLBK), the parent company of Old Line Bank, and Bay Bancorp (BYBK), the parent company of Bay Bank, announced the execution of a definitive merger agreement that provides for the acquisition of Bay Bancorp by Old Line Bancshares for stock in a deal valued at approximately $128.6M. This amount is subject to change based on the trading prices of Old Line Bancshares common stock and the amount of after-tax income that Bay Bancorp or Bay Bank recognizes from the recent resolution of Bay Bank litigation and the resolution of certain problem loans. Each share of Bay Bancorp common stock will be exchanged for a number of OLB Shares calculated by dividing $11.80 by the volume weighted average closing prices of Old Line Bancshares common stock for the 20 trading days ending five trading days before the closing date of the merger, subject to a minimum Average Price of $25.65 and a maximum average price of $29.16 and adjustments for the proceeds recognized in the recent settlement of certain litigation and the resolution of certain loans. The merger consideration will be paid in newly issued shares of Old Line Bancshares common stock. The merger, anticipated to close in the second quarter of 2018, will be Old Line Bancshares' fifth since 2011. The merger is expected to be immediately accretive to its earnings, excluding the expenses of the merger. The combined bank will have assets approaching $3B and, with full service banking offices serving Baltimore City and 11 counties, the combined institution will have the second-most banking locations in Maryland of all independent Maryland-based commercial banks, Old Line stated.
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RAD WBA | Hot Stocks08:56 EDT Rite Aid sees pressure on pharmacy margins for remainder of year - Rite Aid (RAD) says reimbursement rate pressure has created challenges for business. Says expects to receive proceeds of asset sale over a period of several months, will be used to pay off about $270M of net liabilities related to divested assets. Believes store footprint will be more profitable following Walgreens (WBA) transaction, will have less exposure to pharmacy reimbursement rates. Says not providing guidance at this time. Sees pressure on pharmacy margins for rest of year. Says believes it will grow Med D membership in 2018 by approximately 100,000 members. Expects leverage to substantially improve upon completion of asset sale. Comments taken from the Q2 earnings conference call. Rite Aid is down 5.7% in premarket trading.
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AQMS JCI | Hot Stocks08:55 EDT Aqua Metals commences talks with Johnson Controls over retrofit of facility - Aqua Metals (AQMS) disclosed in a regulatory filing that during the week of September 25, it "commenced meetings with Johnson Controls (JCI) for purposes of furthering the discussions concerning the conversion or retrofit of the initial Johnson Controls facility and the negotiation of the definitive Development Program Agreement pursuant to which we will provide to Johnson Controls, and certain strategic partners of Johnson Controls, by way of licensing or sale, AquaRefining technology and the related equipment, engineering and systems integration support sufficient to convert or retrofit existing smelter-based operations." Johnson Controls has reserved the right to definitively designate the initial facility upon the parties' execution of the definitive development program agreement, Aqua Metals said. On September 15, Johnson Controls delivered to Aqua Metals written notice of the first Johnson Controls facility designated by it, on a preliminary basis, for conversion or retrofit. On September 25, Aqua delivered to Johnson Controls written notice of its "readiness to commence discussions to convert or retrofit a Johnson Controls facility to be capable of using AquaRefining to produce lead." Shares of Aqua Metals are up 29%, or $1.75, to $7.80.
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CEMI | Hot Stocks08:53 EDT Chembio Diagnostics receives FDA EUA for DPP Zika System - Chembio Diagnostics announced that it has received FDA Emergency Use Authorization, or EUA, for its DPP Zika System. The DPP Zika System, which provides results in 15-20 minutes from only 10microL of blood, is the first rapid Zika test to receive an FDA EUA for use in high and moderate complexity CLIA certified laboratories. The DPP Zika System includes the DPP Zika IgM Assay and DPP Micro Reader, which is portable, hand-held, easy to use, and can reduce the risk of human error during test interpretation. The test is authorized for the presumptive detection of Zika virus IgM antibodies in fingerstick whole blood, EDTA venous whole blood, EDTA plasma or serum specimens collected from individuals meeting CDC Zika virus clinical and/or epidemiological criteria, from 8 days of on-set and up to 12 weeks. The DPP Zika System has been authorized by FDA under an EUA for use in authorized laboratories in the United States that are certified under the Clinical Laboratory Improvement Amendment, to perform high or moderate complexity tests, or by similarly qualified non-U.S. laboratories.
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CZR | Hot Stocks08:42 EDT Caesars' CEOC reports preliminary results of PropCo equity election - Caesars Entertainment Operating Company and its Chapter 11 debtor subsidiaries announced the preliminary results of the PropCo Equity Election as described in CEOC's Third Amended Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code. The PropCo Equity Election was oversubscribed, with over $2B of debt committing to convert into equity, subject to the maximum of $1.25B. CEOC's restructuring is subject to the completion of the merger of Caesars Acquisition Company into Caesars Entertainment, certain financing activities and lease documentation and other customary closing conditions.
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K | Hot Stocks08:40 EDT Kellogg backs FY17 guidance - The company reaffirmed its full-year 2017 guidance for currency-neutral comparable Net Sales, Operating Profit, Earnings Per Share, and Cash Flow. The company confirmed that its transition out of Direct Store Delivery remains on track, and that its underlying sales trends are improving sequentially in Q3, as previously forecast. Meanwhile, its comparable-basis profit margins continue to improve, on the strength of its Project K and Zero-Based Budgeting initiatives.
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K... | Hot Stocks08:40 EDT Kellogg CEO John Bryant retires, Steven Cahillane to succeed - Kellogg Company (K) announced that its Board of Directors has unanimously elected Steven Cahillane as CEO of the global cereal and snack company effective Oct. 2, as current CEO John Bryant has decided to retire. Cahillane most recently served as President and CEO of The Nature's Bounty Co., a leading health and wellness business. Cahillane will also join the company's Board of Directors, effective Oct. 2. Bryant will continue as Executive Chairman of the Board until March 15, 2018, at which time Cahillane will assume the role of Chairman and CEO. Cahillane has been President and CEO of Nature's Bounty since 2014. Prior to this, Cahillane spent seven years with The Coca-Cola Co. (KO), most recently serving as President of Coca-Cola Americas. Cahillane previously spent eight years with AB lnBev (BUD) in various senior leadership roles including Chief Commercial Officer, in which he led commercial strategy, global marketing, sponsorships, innovation and research following the 2004 merger of lnterbrew and AmBev. His tenure with the company also included serving as CEO for the company's lnterbrew U.K. and Labatt USA subsidiaries.
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ABEO | Hot Stocks08:37 EDT Abeona Therapeutics, Brammer collaborate on commercial translation of ABO-102 - Abeona Therapeutics announced an update on the company's manufacturing strategy and plans for ABO-102, including strategic manufacturing commitments with Brammer Bio for commercial translation. Abeona also announced the recent appointment of Phillip B. Maples, Ph.D., as Vice President of Therapeutic Development and Quality Management to oversee all cell-therapy manufacturing and Adam Davis, Ph.D., as Director to oversee AAV manufacturing.
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HAIN | Hot Stocks08:37 EDT Hain Celestial enters into cooperation agreement with Engaged Capital - The Hain Celestial Group will hold its 2017 Annual Meeting of Stockholders on November 16. The company also announced the appointment of Dr. Celeste A. Clark, Dean Hollis, Shervin J. Korangy, Jack L. Sinclair, Glenn W. Welling and Dawn M. Zier to its Board of Directors. After evaluating numerous candidates, including those suggested by Engaged Capital, the Board believes that these directors are highly qualified and will bring new and valuable skills to Hain Celestial's Board. Each appointee will be included in Hain Celestial's slate of director nominees for election at the 2017 Annual Meeting; three of the company's current directors will not stand for re-election at that meeting. With these changes after the 2017 Annual Meeting, the Board will be comprised of eleven directors, ten of whom are independent. In connection with today's announcement, the company has entered into a mutual cooperation agreement with Engaged Capital.
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K | Hot Stocks08:36 EDT Kellogg CEO John Bryant retires, Steven Cahillane to succeed
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UPS | Hot Stocks08:35 EDT UPS, SF Holding JV receives regulatory approval in China - UPS and SF Holding, the parent company of SF Express, announced approval of their planned joint venture by China's Ministry of Commerce. The JV enables UPS and SF to collaborate on development and provision of international delivery services from, initially, China to the U.S. and, in the future, to other trade lanes. The JV approval is a positive development for international trade and allows the two leading companies to leverage their complementary networks, service portfolios, technologies and logistics expertise.
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STDY | Hot Stocks08:35 EDT SteadyMed submits Type A Meeting Request package to FDA - SteadyMed announced that it has submitted a Type A Meeting Request and Briefing Document to the FDA. The Type A meeting is being requested in response to the FDA's August 28, 2017 Refusal to File, or RTF, letter relating to SteadyMed's New Drug Application, or NDA, for Trevyent, its lead drug product candidate that is in development for the treatment of Pulmonary Arterial Hypertension, or PAH. The Meeting Request and Briefing Document contain SteadyMed's proposals to address the issues raised by the FDA in the RTF letter, along with a request for a Type A meeting to obtain agreement on SteadyMed's proposed pathway to a Trevyent NDA resubmission. Per FDA guidance to industry, a Type A meeting is a meeting needed to help an otherwise stalled product development program proceed. If granted, Type A meetings are generally scheduled within 30 days of the meeting request.
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OB | Hot Stocks08:34 EDT Onebeacon Insurance trading halted, news dissemination
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RMTI | Hot Stocks08:33 EDT Rockwell Medical files Calcitriol post-approval manufacturing submission - Rockwell Medical provided an update on the commercial launch of Calcitriol, stating that it has submitted its chemistry, manufacturing and controls, or CMC, post-approval drug manufacturing supplement to the FDA. The company anticipates Calcitriol to be commercially available in the U.S. approximately 30 days after the CMC submission, provided the FDA has no further requests. Calcitriol is Rockwell's FDA approved active Vitamin D injection for the management of hypocalcemia in patients undergoing chronic renal dialysis.
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BBRY | Hot Stocks08:33 EDT BlackBerry says expects Q3, Q4 gross margin above 70% level
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TNDM | Hot Stocks08:32 EDT Tandem Diabetes reports high satisfaction rates for insulin pump software update - Tandem Diabetes Care announced that one-third of t:slim X2 Pump users have already updated their pumps via personal computer to add the new Dexcom G5 Mobile continuous glucose monitoring integration. Tandem announced U.S. Food and Drug Administration approval and immediate launch of the CGM-enabled t:slim X2 Pump on August 28, including the associated software update for more than 12,000 customers who purchased a t:slim X2 Pump prior to the approval. Of the t:slim X2 Pump users who have taken advantage of the software update, more than 85% indicated they were satisfied or extremely satisfied with the update process.
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OSIS | Hot Stocks08:32 EDT OSI Systems receives $4M order for patient monitoring solutions - OSI Systems announced that its Healthcare division, Spacelabs Healthcare, received an order valued at approximately $4M to provide patient monitoring solutions and related accessories to a prominent U.S. hospital. The company expects to install its Xhibit Central Stations with XTR Telemetry, Xprezzon, Qube and Qube Mini patient monitoring products.
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CATB SRPT | Hot Stocks08:31 EDT Catabasis to present results from Sarepta collaboration at ICWMS - Catabasis Pharmaceuticals (CATB) said it will present data from the Catabasis and Sarepta (SRPT) joint research collaboration in Duchenne muscular dystrophy at the 22nd International Congress of the World Muscle Society in a poster presentation titled "Edasalonexent, an NF-kB inhibitor, enhances myotube formation in vitro, and increases exon-skipped sarcolemmal dystrophin in muscle of mdx mice" during poster session 4 on Thursday, October 5, 2017 from 17:00 - 18:30 CEST. The International Congress of the World Muscle Society is being held October 3 - 7, 2017, at the Palais du Grand Large in Saint Malo, France.
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AKS | Hot Stocks08:30 EDT AK Steel says UAW members ratify labor agreement for Rockport Works - AK Steel said that members of the United Auto Workers, or UAW, Local 3044, have ratified a four year labor agreement covering about 319 hourly production employees at the company's Rockport Works. AK Steel said that the contract was ratified in voting held on September 27, 2017. The agreement will be in effect until September 30, 2021.
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AKS | Hot Stocks08:29 EDT AK Steel ratifies labor agreement for Rockport Works with UAW members - AK Steel reported that members of the United Auto Workers Local 3044, have ratified a four year labor agreement covering about 319 hourly production employees at the company's Rockport Works. The agreement will be in effect until September 30, 2021.
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ETR | Hot Stocks08:28 EDT Entergy to continue operating Palisades Power Plant until spring 2022 - Entergy plans to operate Palisades Power Plant in Covert, Michigan, until the spring of 2022, under the existing Power Purchase Agreement with Consumers Energy. "In light of the Michigan Public Service Commission's order issued September 22, which granted Consumers Energy recovery of only $136.6M of the $172M it requested for the buyout of the PPA, the parties have agreed to terminate the buyout transaction," said Charlie Arnone, site vice president and Entergy's top official at Palisades. The announcement reverses Entergy's December 2016 decision to close Palisades on October 1, 2018. The impact of the decision on free cash flow is expected to be positive $100M-$150M compared to the PPA amendment with Consumers Energy.
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PRTY | Hot Stocks08:27 EDT Party City to hire 25,000 employees for Halloween season - Party City said that it plans to hire approximately 25,000 temporary employees and open up more than 270 Halloween City pop-up stores in preparation for a busy Halloween season.
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BBRY | Hot Stocks08:22 EDT BlackBerry sees positive adjusted EBITDA for FY18
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BBRY | Hot Stocks08:22 EDT BlackBerry's Radar-L adopted by Titanium Transportation - BlackBerry announced that Titanium Transportation Group has started deploying Radar-L across its fleet of flatbeds. Titanium's entire fleet now utilizes the BlackBerry Radar platform.
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BBRY | Hot Stocks08:18 EDT BlackBerry targets FY18 gross margin approximately 70%
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BBRY | Hot Stocks08:16 EDT BlackBerry says licensing business performed 'quite well' in Q2 - Sees additional opportunities in 2H18.
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RAD WBA | Hot Stocks08:16 EDT Rite Aid sees Walgreens asset sale deal completed in spring 2018 - Rite Aid (RAD) says the Walgreens (WBA) transaction does not require a shareholder vote. Rite Aid and WBA expect to transfer ownership of the stores in phases beginning in October, with the goal of completing the transfer of all stores in spring 2018. Following the closing of the asset sale, Rite Aid will have the option to purchase generic drugs that are sourced through an affiliate of WBA at a cost substantially equivalent to Walgreens for a period of 10 years. Comments from slides that will be presented on the Q2 earnings conference call.
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PPSI | Hot Stocks08:14 EDT Pioneer Power to provide monitoring systems for home improvement retailer - Pioneer Power Solutions' Critical Power Division has been selected to provide a remote monitoring solution for the emergency power systems at a limited number of stores for a leading home improvement retailer.
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BBRY | Hot Stocks08:13 EDT BlackBerry says achieved 'major design wins' in automotive industry in Q2 - Says should provide high margin growth long term.
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OMCL | Hot Stocks08:12 EDT Omnicell expands partnership with Prime Healthcare - Omnicell announced that Prime Healthcare, a 45-hospital network serving 14 states, is implementing the company's new XT Series automated medication dispensing systems in seven hospitals. Prime Healthcare is also adding anesthesia and supply offerings to the suite of Omnicell solutions used in select sites.
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CMD | Hot Stocks08:10 EDT Cantel Medical reports Q4 non-GAAP EPS 54c, consensus 53c - Reports Q4 revenue $205.5M, consensus $200.32M.
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BBRY | Hot Stocks08:08 EDT BlackBerry says expects strong public sector business outside U.S.
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PM | Hot Stocks08:08 EDT Philip Morris announces Jacek Olczak to become COO in 2018 - Philip Morris International announced organizational changes intended to drive the company's transformation towards a smoke-free future while maintaining its financial performance. Effective January 1, 2018: Jacek Olczak, currently CFO will be appointed COO, responsible for the deployment of global strategy and the delivery of results for combustible and reduced-risk products; and Martin King, currently president, Asia Region, will be appointed CFO. PMI will operate in six geographic tegions, up from the current four, managed as follows: Frederic de Wilde, will continue to serve as president, European Union region, Marco Mariotti, currently SVP corporate affairs, will be appointed president, Eastern Europe Region, Drago Azinovic, currently president, Eastern Europe, Middle East & Africa Region and PMI Duty Free will be appointed president, Middle East & Africa Region and PMI Duty Free, including North Africa and Turkey, Paul Riley currently president PMI Japan, will be appointed president, East Asia & Australia Region, Stacey Kennedy, currently MD Germany, Austria, Croatia and Slovenia, will be appointed president, South & Southeast Asia Region and Jeanne Polles will continue to serve as president, Latin America & Canada Region.
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AKAO | Hot Stocks08:08 EDT Achaogen awarded up to $18M contract by BARDA - Achaogen announced that it has been awarded a contract valued at up to $18M in funding from the Biomedical Advanced Research and Development Authority, or BARDA, to support the development of C-Scape, a product candidate being developed to treat serious bacterial infections due to extended spectrum beta-lactamase, or ESBL,-producing Enterobacteriaceae. The BARDA contract was awarded to Achaogen under BARDA's Antibacterials program, and includes a nine-month base period with committed funding of $12M and subsequent option periods that, if exercised, would bring the total value of the award to $18M.
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PEG | Hot Stocks08:08 EDT PSEG acquires Long Island solar project from Solar Liberty - PSEG Solar Source has acquired a 10.6 MWs-dc facility located in West Babylon, Long Island, from Solar Liberty Energy Systems, representing an investment of $20M-$25M. The PSEG West Babylon Solar Center has completed construction and is expected to begin commercial operation in October. The project has 20-year power purchase agreements (PPAs) with the Long Island Power Authority.
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ABBV AMGN | Hot Stocks08:06 EDT AbbVie announces resolution of Humira patent disputes with Amgen - AbbVie (ABBV) announced a global resolution of all intellectual property-related litigation with Amgen (AMGN) over Amgen's proposed biosimilar adalimumab product. Under the terms of the settlement agreements, AbbVie will grant to Amgen a non-exclusive license to AbbVie's intellectual property relating to Humira beginning on certain dates in certain countries in which AbbVie has intellectual property. The license period will begin on Jan. 31, 2023 in the U.S., on Oct. 16, 2018 in most countries in the European Union, and on other dates in various countries in which AbbVie has intellectual property. Amgen will pay royalties as specified under the agreements. The precise terms are confidential between the parties. All litigation pending between the parties will be dismissed, and Amgen has acknowledged the validity of AbbVie's intellectual property related to Humira. Laura Schumacher, executive vice president, external affairs, general counsel and corporate secretary, AbbVie, said, "In reaching this agreement, we have achieved the balance between protecting investment in innovation and providing access to biosimilars, which will play an important role in our health care system. We will continue to defend our intellectual property and to reinvest in further advancements in medicine to bring choices to patients in need."
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JMU | Hot Stocks08:05 EDT JMU adds eleven online suppliers in August and September - JMU provided updates on suppliers added onto its online marketplace for the month of August and September. JMU has added eleven suppliers in both the packaged foods and kitchen appliance categories onto its direct sales platform. Five suppliers providing rice, flour and cooking oil were included in JMU's product offering. For seasonings and fresh fruits and vegetables, JMU selected two suppliers in each category. Additionally, JMU partnered with a beverage and alcohol distributor and a logistics service provider in August.
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BBRY | Hot Stocks08:05 EDT BlackBerry says 'pleased with execution' in Q2 - Said delivered strong software billings growth. Expects double digit billings growth for remainder of year. Says had highest operating margin in five years. Comments from Q2 earnings conference call.
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AMGN ABBV | Hot Stocks08:04 EDT Amgen granted non-exclusive license to Humira IP in pact with AbbVie
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DHI FOR | Hot Stocks08:04 EDT D.R. Horton, Forestar report preliminary merger consideration election results - D.R. Horton (DHI) and Forestar (FOR) announced the preliminary results of the elections made by Forestar stockholders regarding the form of merger consideration they wish to receive in connection with D.R. Horton's pending acquisition of approximately 75% of the currently outstanding shares of Forestar pursuant to that certain merger agreement by and among D.R. Horton, Forestar and Force Merger Sub. As previously announced, the cash and stock elections will be subject to proration and adjustment procedures, as set forth in the merger agreement. Subject to those proration and adjustment procedures in the merger agreement, common stockholders of Forestar had the option to elect to receive, for each share of Forestar common stock held, either (i) an amount in cash equal to $17.75 or (ii) one new share of Forestar common stock. As previously announced, the deadline for making this election was 5:00 p.m. Eastern time on September 27.Based on available information as of the election deadline, the preliminary election results were: Holders of 38,259,107 shares of Forestar common stock, or approximately 91.23% of the outstanding shares of Forestar common stock, elected to receive the cash consideration. Holders of 4,260,068 shares of Forestar common stock, or approximately 10.16% of the outstanding shares of Forestar common stock, elected to receive the stock consideration. Because the number of shares subject to elections above exceeds 41,938,936 shares, which was the number of shares of Forestar common stock outstanding as of the close of business of September 27, 2017, it appears there are duplicative elections made pursuant to guaranteed delivery procedures.
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TUES | Hot Stocks08:04 EDT Tuesday Morning backs FY18 SSS view of 2%-5% - Tuesday Morning reaffirmed its previously issued FY18 outlook. This includes an expected increase in comparable store sales of 2%-5% and a "significant improvement" in EBITDA. The company also expects an increase in Q1 SSS in the same 2%-5% range including the impact of the recent hurricanes.
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JCOM | Hot Stocks08:03 EDT j2 Global announces Vivek Shah to become CEO in 2018 - j2 Global announced that it has selected Vivek Shah to succeed Nehemia Zucker as CEO effective January 1, 2018. The j2 Board of Directors believes Shah is a tested and dynamic executive capable of leading j2 Global into the future as a leading Internet information and services company with a continued focus on growth and profitability. Zucker will serve as CEO of j2 until the end of this year. On January 1, 2018, Hemi will join OCV, a venture capital firm organized by j2's Chairman of the Board, Richard Ressler. For the past five years, Mr. Shah has served as CEO of Ziff Davis, j2's digital media business.
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ABBV AMGN | Hot Stocks08:03 EDT AbbVie announces resolution of Humira patent disputes with Amgen
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VTGN | Hot Stocks08:03 EDT VistaGen Therapeutics receives Notice of Allowance from USPTO for AV-101 - VistaGen Therapeutics announced receiving a Notice of Allowance from the U.S. Patent and Trademark Office for U.S. Patent Application No. 14/775,287 related to certain methods of production for AV-101, VistaGen's lead CNS product candidate.
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AMMA | Hot Stocks08:02 EDT Alliance MMA acquires Victory Fighting Championship - Alliance MMA announced it has acquired the assets of Victory Fighting Championship. VFC produces events in Nebraska, Kansas, Iowa, South Dakota and forthcoming shows in Dallas/Ft. Worth - the nation's 5th largest media market. VFC joins Alliance MMA's growing umbrella of regional promotions, operating in 13 of the top 30 Nielsen Designated Market Areas, including each of the top five.
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NDAQ | Hot Stocks08:02 EDT Nasdaq to explore strategic alternatives for PR solutions, digital media units - Nasdaq announced that it has commenced a process to evaluate potential strategic alternatives for the Public Relations Solutions and Digital Media Services units within its Corporate Solutions business. This process is a result of Nasdaq's refined strategic direction, which emphasizes the company allocating more resources towards technology, data and analytics opportunities, leveraging its capital markets foundation.
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ZEUS | Hot Stocks08:01 EDT Olympic Steel names Zachary Siegal VP of strategic development - Olympic Steel announced Zachary J. Siegal has been promoted to the new position of Vice President of Strategic Development, effective October 1. He will be responsible for strategically developing new internal processing opportunities and growing the company's product portfolio, as well as assessing Company-wide operational and financial performance to promote best practices across all business units. In addition, Siegal will be instrumental in the evaluation of potential acquisition candidates and guiding the company's overall strategy for profitable growth.
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MARK | Hot Stocks07:59 EDT Remark Media awarded AI contract for intellectual property piracy in China - Remark Holdings announced that Sefon, a Big Data services company headquartered in Chengdu, China, awarded a multimillion-dollar contract to Remark Holdings' KanKan subsidiary to help fight intellectual-property piracy in China. The proprietary technology will first be deployed in the Guizhou region.
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LUV... | Hot Stocks07:59 EDT Southwest cuts capacity guidance due to recent natural disasters - Shares of Southwest Airlines (LUV) are in focus in premarket trading after the company cut its capacity and other guidance for the third quarter to reflect the impacts from the recent hurricanes and earthquakes. OPERATIONAL UPDATE: Southwest Airlines said in a regulatory filing this morning that it has canceled about 5,000 flights through September 27 due to the impacts from recent natural disasters, which includes hurricanes Harvey, Irma and Maria, as well as the earthquake in Mexico. The carrier currently expects a negative impact to its Q3 operating revenues of approximately $100M as a result. UPDATED GUIDANCE: Southwest expects Q3 available seat miles, or capacity, to increase about 3% from the year-ago period. The company expects Q3 operating revenue per available seat mile, or RASM, to be flat to down 1%. Operating expense per available seat mile, or CASM, is expected to be up 3%-4%. The company is still expecting fuel costs of $2.00 to $2.05 a gallon, based on derivative contracts and market prices as of September 22. WHAT'S NOTABLE: At the Cowen and Company's 10th Annual Global Transportation Conference on September 6, Southwest executive vice president and chief financial officer Tammy Romo estimated a $40M-$60M negative impact from Hurricane Harvey. She forecast Q3 RASM down 1% to up "slightly" year-over-year, CASM up 2%-3% from the year-ago period and capacity growth of 3.5%-4.5% year-over-year. Two days later, Southwest reported August traffic up 5.3% and reiterated that it expected Q3 RASM to be down 1% to slightly up from the year-ago period. PRICE ACTION: Southwest Airlines is fractionally lower in premarket trading. OTHERS TO WATCH: Peers in the space include JetBlue (JBLU), Delta (DAL), American Airlines (AAL) and United (UAL).
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ACN | Hot Stocks07:56 EDT Accenture sees FY18 operating margin 14.9%-15.1% - An expansion of 10 to 30 basis points from adjusted operating margin for fiscal 2017. For fiscal 2018, the company expects operating cash flow to be in the range of $5B-$5.3B; property and equipment additions to be $600M; and free cash flow to be in the range of $4.4B-$4.7B. The company expects its annual effective tax rate to be in the range of 23%-25%.
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PBA | Hot Stocks07:48 EDT Pembina Pipeline provides update on Phase V pipeline expansion - Pembina Pipeline is adding additional infrastructure and increasing operational flexibilities to its previously announced Phase V pipeline expansion in order to accommodate incremental volume commitments from customers. The company is also revising its capital cost estimate for Phase V by an additional $135M for a total capital cost of $385M. Since Phase V was originally announced in April, Pembina has secured approximately 30,000 barrels per day in additional volume commitments. Through the Phase V project enhancements, the pipeline capacity will be increased by an incremental 45,000 barrels per day upstream of Laglace, Alberta. Phase V is aimed at addressing capacity constraints between Lator and Fox Creek and supporting future growth in the Montney and Deep Basin resource plays. Clearing and access to the right-of-way is now 90% complete with construction expected to commence shortly. The company continues to anticipate bringing Phase V into service in late-2018.
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JEC | Hot Stocks07:46 EDT Jacobs Engineering awarded $34.6M CNS/ATM contract from U.S. Air Force - Jacobs Engineering Group was awarded a continuation contract for the United States Air Force Communication, Navigation, Surveillance/Air Traffic Management software development. The software supports the fleet of Air Mobility and Air Combat Command aircraft. The contract is valued at $34.6M over five years if all options are exercised. Work will be primarily performed at the Jacobs Software Engineering Center in Nashua, NH. Under this contract, Jacobs will continue software development previously done under the Global Mobility and Special Mission Mission Planning Software Development and Sustainment contract. Jacobs will design, develop and deliver CNS/ATM compliant software which produces aircraft readable navigational databases for the C-5, C-17, KC-10, KC-135, E-3 DRAGON and EC-130H aircraft. The contract also includes data validation of National Geospatial Agency aviation datasets and support for Foreign Military Services aircraft platforms.
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LUV | Hot Stocks07:44 EDT Southwest now sees Q3 RASM flat to down 1% vs. last year - In a regulatory filing, Southwest Airlines provided revised estimates of its financial and operational trends to reflect the impacts from the devastating hurricanes and earthquakes during third quarter 2017. The company has canceled approximately 5,000 flights through September 27, 2017 due to the impacts from the natural disasters. As a result, the company now expects its third quarter 2017 available seat miles to increase approximately three percent, year-over-year. The company currently estimates a negative impact to its third quarter 2017 operating revenues of approximately $100M as a result of the natural disasters. As a result of this estimated impact and based on the current industry revenue environment driving weakness in revenue passenger yields, the company now expects its third quarter 2017 operating revenue per available seat mile to be flat to down one percent, as compared with third quarter 2016. The company now expects its third quarter 2017 operating expense per available seat mile, excluding fuel and oil expense, special items, and profitsharing expense, to increase in the three to four percent range1, year-over-year. The change in guidance is primarily attributable to the impact from the natural disasters. Based on the Company's fuel derivative contracts and market prices as of September 22, 2017, the company continues to expect its third quarter 2017 economic fuel costs to be in the $2.00 to $2.05 per gallon range.
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CAG | Hot Stocks07:40 EDT Conagra Brands reports Q1 adjusted gross margin up 26 bps to 29.2% - Q1 gross margin increased 3 basis points to 28.8%. Adjusted gross margin increased 26 basis points to 29.2%. Improvements in price/mix and the impact of divesting lower margin businesses more than offset the impact of input cost inflation. The company estimates that incremental slotting fees reduced adjusted gross margin expansion by approximately 35 basis points.
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PAR | Hot Stocks07:35 EDT PAR Technology selected by California Tortilla for cloud-based software - ParTech announced California Tortilla has selected PAR's Cloud-Based Brink POS Software and EverServ 8000 terminals for all 51 locations, with plans to open six more restaurants by the end of 2017.
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DGX FMS | Hot Stocks07:35 EDT Quest Diagnostics to acquire Shiel Medical Laboratory from Fresenius Medical - Quest Diagnostics (DGX) announced an agreement under which Quest will acquire the Shiel Medical Laboratory business from Fresenius Medical Care (FMS). The transaction is structured as a purchase of assets. Shiel is a clinical laboratory provider serving the New York-New Jersey metropolitan area. Fresenius Medical Care's dialysis-related laboratory services business, Spectra Labs, is not affected by the divestiture. The transaction is expected to be completed in the fourth quarter of 2017, subject to customary regulatory approvals. Financial terms were not disclosed.
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LXU | Hot Stocks07:33 EDT LSB Industries experiences minor fire at Oklahoma ammonia plant - LSB Industries announced that the ammonia plant at its Pryor, Oklahoma chemical facility experienced a minor fire and was taken out of service on September 23 to repair damage to some of the plant's electrical controls, wiring and piping. None of the company's employees were injured, there was no damage to the reformer or to other major pieces of equipment, and there was no release of ammonia. LSB management expects the repairs to be completed and ammonia production to resume by the end of October. The company plans to meet customer commitments for pre-sales of products by either shipping from other facilities or by purchasing them from third parties and thus, the ammonia plant downtime will not result in reductions of UAN or ammonia sales volumes. Management expects that the EBITDA impact resulting from the repair expenses, the excess cost of purchasing UAN versus producing it, and the reduced absorption of fixed costs will be approximately $1.5M to $2.0M for the Q3 and $2.5M to $2.75M n for Q4.LSB will provide an update on the progress of the repairs and the impacts of the downtime on financial results when the company reports Q3 results in late October.
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BBRY | Hot Stocks07:33 EDT BlackBerry signs BlackBerry Secure licensing deal with Yangzhou New Telecom - BlackBerry announced the company has signed its first BlackBerry Secure licensing deal with Yangzhou New Telecom Science and Technology Company, or NTD, a Yangzhou and Beijing based electronics design firm that develops and manufactures smartphones and IoT devices. As part of BlackBerry's multi-dimensional licensing strategy, this licensing agreement means NTD will develop devices that will be branded by OEMs, carriers and local smartphone brands and marketed as "BlackBerry Secure" due to the use of BlackBerry's security software. This builds on the agreements with BB Merah Putih, Optemius and TCL, which enable those companies to bring to market BlackBerry-branded devices such as the award-winning BlackBerry KEYone smartphone.
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CAG | Hot Stocks07:32 EDT Conagra Brands CEO says FY18 'off to a strong start' - Sean Connolly, president and CEO of Conagra Brands, commented, "Fiscal 2018 is off to a strong start. We continued to see gross margin expansion, despite higher than expected inflation and our planned increase in slotting investments to fund innovation. Most notably, our sales trends improved further this quarter. Our sales trend improved as a result of accelerating velocities on our existing business as well as a strong start to our innovation. Overall, we remain encouraged that our value over volume strategy, as well as our rebuilt innovation capabilities, continued to deliver as expected. We are confident in our ability to build on this momentum and drive long-term shareholder value."
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FUV | Hot Stocks07:31 EDT Arcimoto announces new manufacturing plant in Oregon - Arcimoto announced it has signed a lease on a manufacturing plant for its Arcimoto SRK three-wheeled electric vehicle and received the necessary building permits from the City of Eugene Planning Department for leasehold improvements. The Company will take delivery of the 30,000 square foot facility on October 1, 2017 and plans to occupy it by the end of next month. The Arcimoto Manufacturing Plant is located in West Eugene and will have the capacity to employ up to 250 people.
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FUV | Hot Stocks07:31 EDT Arcimoto names Terry Becker as COO, Patrick Wiest as Materials Director - Arcimoto announced it is strengthening its senior management team by naming two new key executive hires. Effective immediately, Terry Becker has been named COO and Patrick Wiest was appointed to Materials Director. Prior to joining the team, Terry most recently served as Director of Engineering and Global Product Support at Peterson Pacific Corp. In his most recent executive post, Wiest served as Materials Manager for FCC Commercial Furniture.
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LXFT | Hot Stocks07:24 EDT Luxoft acquires UNAFORTIS - Luxoft Holding announced that it has acquired UNAFORTIS, a Swiss-based wealth management consultancy specializing in Avaloq implementations and business consulting anchored in IT services. Avaloq is a provider of fully integrated banking software for the back, middle, and front office. With a team of in-depth experts dedicated to Avaloq-related services, UNAFORTIS is one of its leading implementation partners. This acquisition therefore deepens Luxoft's expertise in standardized software and enables Excelian, Luxoft Financial Services to target a growing global client base within the wealth management, private, and universal banking sectors. In addition, Luxoft intends to offer Avaloq-based services beyond the predominantly Swiss-client base of UNAFORTIS. Luxoft therefore plans to work with Avaloq to develop more wealth management and private banking clients. In particular, Luxoft expects to build a 150 to 200-engineer global practice, taking advantage of synergies in the shared markets of Excelian and the recently acquired derivIT in the UK, APAC, Germany and North America, as well as the near and offshore - regionally adaptable - core capabilities of Luxoft.
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ESNC | Hot Stocks07:24 EDT EnSync signs 20-year PPA project with California Forestry and Fire Protection - EnSync signed a 20-year power purchase agreement with the State of California, marking the company's entry into that market. The project, on which EnSync Energy has partnered with Solar Energy Fields, will be a 500-KW solar installation at the California Department of Forestry and Fire Protection training facility in Ione, California. Under the multi-party agreement, EnSync Energy will build a solar canopy over the parking lot of the academy's new dormitory.
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NGD | Hot Stocks07:20 EDT New Gold completes Schedule 2 amendment to close Rainy River effluents - New Gold reported that the amendment to Schedule 2 of the Metal Mining Effluent Regulations, required to close two small creeks and deposit tailings at the Rainy River project, has become effective. The company began processing ore on schedule on September 14. Since that date, the company has processed over 150,000 tonnes of ore, including an average of approximately 20,000 tonnes per day over the last four days.
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IO | Hot Stocks07:14 EDT ION Geophysical extends new 2D multi-client program offshore Panama - ION Geophysical announced an approximate 50% extension to its program offshore Panama. The client-driven survey provides a regional framework typical of BasinSPAN programs to evaluate the geology of the Panamanian offshore, while the new extension provides coverage that will allow E&P companies to evaluate blocks ahead of the expected license round. The expanded program will be approximately 9,000 kilometers.
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XGTI | Hot Stocks07:12 EDT xG Technology receives $200K in orders for video system from California county - xG Technology's IMT Vislink business has received orders valued at approximately $200K for HD airborne video downlink system equipment from a county law enforcement agency located in Northern California.
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ACN | Hot Stocks07:10 EDT Accenture raises semi-annual cash dividend 10% to $1.33 per share - Accenture plc has declared a semi-annual cash dividend of $1.33 per share on Accenture plc Class A ordinary shares for shareholders of record at the close of business on Oct. 19, 2017, and Accenture Holdings plc will declare a semi-annual cash dividend of $1.33 per share on Accenture Holdings ordinary shares for shareholders of record at the close of business on Oct. 17, 2017. Both dividends are payable on Nov. 15, 2017. This represents an increase of $0.12 per share, or 10 percent, over the company's previous semi-annual dividend, declared in March.
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SMTS | Hot Stocks07:10 EDT Sierra Metals signs MOU with Jinchuan Group in mexico - Sierra Metals signed a Memorandum of Understanding with Jinchuan Group which formalizes the intentions of the parties in respect of their cooperation focused on the Jinchuan's Bahuerachi copper mining project's development in Chihuahua, Mexico. Jinchuan acquired the Bahuerachi copper porphyry deposit in connection with its acquisition of Tyler Resources in 2008 and has conducted multiple geologic and engineering studies with an aim to developing a large scale open pit copper mine. The Bahuerachi project concessions are adjacent to Sierra Metals' Bolivar copper mine concessions. The MOU has the objective of accelerating the cooperation between Jinchuan and Sierra Metals at the Bahuerachi mining concessions in a manner that is mutually beneficial to both companies.
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RAD WBA | Hot Stocks07:08 EDT Rite Aid CEO says asset sale provides 'clear path forward' - "While our performance for the quarter reflects a challenging reimbursement rate environment and the effects of an extended merger and asset sale process, securing regulatory clearance for the amended asset sale agreement with Walgreens Boots Alliance (WBA) gives us a clear path forward to realize the benefits of the transaction and implement our plans to deliver improved results. In addition, we've announced this morning that Kermit Crawford - a proven leader with extensive retail pharmacy experience - is joining Rite Aid as president and chief operating officer to further strengthen our leadership team," said Rite Aid (RAD) chairman and CEO John Standley. "As we work to complete the asset sale, which will reduce our leverage and provide greater financial flexibility to invest in our business, we'll also focus on generating momentum for our business by meeting the health and wellness needs of our customers and patients while delivering an outstanding experience in our stores."
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MNGA | Hot Stocks07:07 EDT MagneGas develops system to recycle 95% of MangeGas2 waste products - MagneGas has developed and installed a capture and evaporation system that recycles 95% of the minimal waste byproducts produced during the production of MagneGas2. The company states that this renders the system virtually waste-free when compared to competitive legacy acetylene production methods.
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ACN | Hot Stocks07:07 EDT Accenture reports Q4 new bookings $10.1B
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GALE | Hot Stocks07:06 EDT Galena completes enrollment in two NeuVax clinical trials - Galena Biopharma announced that two clinical trials evaluating NeuVax in combination with trastuzumab for the prevention of recurrence in breast cancer patients have enrolled the protocol-defined number of patients to complete enrollment. The milestones were reported by the clinical research organization conducting both trials - a Phase 2b clinical trial in HER2 1+/2+ patients and a Phase 2 clinical trial in HER2 3+ patients.
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PG | Hot Stocks07:05 EDT Procter & Gamble board reinforces 'strong' support for turnaround - The Procter & Gamble Company Board of Directors issued an open letter responding to select alumni of the H.J. Heinz Company Board of Directors. "The P&G Board of Directors thanks the five alumni of the H.J. Heinz Company Board for the reflections on their experience with Nelson Peltz as a Heinz Director. We respect that Mr. Peltz may have been an appropriate Board member for the Heinz food company of more than a decade ago. We have conducted extensive diligence and continue to conclude that Mr. Peltz does not offer the best solution for our Board and for The Procter & Gamble Company, today. Three years ago, we made, along with the management team, a decisive set of choices that are transforming this Company. We remain wide open to different points of view, but we're not looking to begin a turnaround. We're in the middle of a turnaround that is working. We need, at this point in time, to put 100% of our energy into executing the choices that have been made and that continue to transform the Company. Early results behind this transformation encourage us. The Company met and even exceeded its top-line, bottom-line and cash objectives during the last fiscal year. The P&G team has delivered 28% total shareholder return during the past two years, returning more than $20 billion in cash to shareowners. The team delivered double-digit average annual constant-currency earnings per share growth during the past five years, improving industry-leading margins along the way. This is a strong turnaround by any measure, with more progress to make. We recognize that we could have just said 'Why not?' and simply invited Mr. Peltz onto the Board to avoid a proxy contest that no one wanted. But our fiduciary duty compels us to make decisions that are in the best interests of all shareholders for the short, mid- and long term - not to take the easy way out today. We will continue to look for new Board members who meet our rigorous governance criteria, add to our set of knowledge and skills, contribute important new ideas, and strengthen our growth hand for the future."
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RAD | Hot Stocks07:05 EDT Rite Aid reports Q2 SSS down 3.4% - Same store sales for the quarter decreased 3.4% over the prior year, consisting of a 4.6% decrease in pharmacy sales and a 0.9% decrease in front-end sales. Pharmacy sales included an approximate 189 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores, adjusted to 30-day equivalents, decreased 1.8% over the prior year period due in part, to exclusion from certain pharmacy networks that Rite Aid participated in the prior year. Prescription sales accounted for 67.8% of total drugstore sales, and third party prescription revenue was 98.3% of pharmacy sales.
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RAD WBA | Hot Stocks07:03 EDT Rite Aid names former Walgreens exec Kermit Crawford as president and COO - Rite Aid Corporation (RAD) announced that Kermit Crawford, former EVP and president of pharmacy health and wellness for Walgreens (WBA), is joining Rite Aid as president and COO of Rite Aid Corporation, effective Oct. 5. Crawford will report to Rite Aid Chairman and CEO John Standley. During his more than 30 years with Walgreens, Crawford held a wide range of store operations and senior management positions, including responsibility for the company's pharmacy services, which included its pharmacy benefit management services. When he retired from Walgreens in 2014, Crawford was EVP and president of Walgreen's pharmacy, health and wellness division, where he was responsible for all aspects of strategic, operational and financial management for the division.
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PAG | Hot Stocks07:02 EDT Penske Automotive sees 4c-5c impact to Q3 EPS from hurricanes - Penske Automotive provided a preliminary estimate of the impact on its operations in Florida, Georgia, Texas and Puerto Rico from Hurricanes Irma, Harvey, and Maria. The company operates 19 dealerships and 3 collision centers in the affected areas which represented approximately 9% of the company's consolidated revenue for the six months ended June 30, 2017. Hurricane Maria has significantly impacted the island of Puerto Rico, as the power grid and communication systems on the island have been severely damaged. As a result, certain of the company's operations have been suspended and are expected to remain impacted for the immediate future. Our first priority in Puerto Rico is assisting our employees and their families as recovery efforts continue on the island and we are working directly with our Puerto Rico team towards that end. Hurricanes Irma and Harvey disrupted our operations in Florida, Georgia, and Texas. Operations in Florida and Texas were impacted for nearly one week while Georgia experienced a disruption in operations for 1-2 days. Operations in Florida, Texas and Georgia are now operating at full capacity. As a result of the hurricanes, the company's third quarter 2017 financial performance is expected to be adversely impacted. The assessment of losses in Puerto Rico is ongoing and is expected to continue for the immediate future as basic services to the island resume. The company currently estimates that storm-related losses, expenses, and business interruption, net of expected insurance proceeds, will reduce earnings per share by 4c-5c for the three months ended September 30, 2017.
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SPPI | Hot Stocks07:02 EDT Spectrum highlights poziotinib data in lung cancer to be presented at IASLC - Spectrum Pharmaceuticals announced the release of an abstract from a clinical study evaluating poziotinib in EGFR Exon 20 Mutant Non-Small Cell Lung Cancer by scientists from The University of Texas MD Anderson Cancer Center, the sponsor of the trial. This abstract contains limited data as of the submission deadline of June 21, 2017. Additional data from their clinical experience and the ongoing Phase 2 study will be released in an oral presentation at the 18th International Association for the Study of Lung Cancer World Conference on Lung Cancer in Yokohama, Japan, October 15-18, 2017. "Approximately 10% of EGFR mutant NSCLCs have an insertion/mutation in exon 20 of EGFR resulting in primary resistance to currently available tyrosine kinase inhibitors. We previously reported that the structural features of poziotinib could potentially enable it to circumvent the steric hindrance induced by exon 20 mutations. Here we further characterize the preclinical activity of poziotinib and report on initial clinical activity of poziotinib in patients EGFR exon 20 mutations from an ongoing phase II study. To date, 8 platinum-refractory patients with EGFR exon 20 insertion mutation metastatic NSCLC have been enrolled in the clinical trial and treated with poziotinib at a dose of 16 mg PO daily. Two patients have reached the first interval-imaging time point. Both patients exhibited dramatic partial response, with one patient reporting improvement in dyspnea and cough at one week of therapy. In this early stage of the study, one case of grade 3 paronchycia was observed. One additional platinum- and erlotinib-refractory patient with EGFR exon 20 insertion was treated with poziotinib on compassionate basis. The patient achieved partial response after three weeks of treatment. Conclusion: Poziotinib has selective activity against EGFR exon 20 mutations and potent activity in cell lines, PDX, and GEM models. Three platinum-refractory patients with EGFR exon 20 mutations have been treated thus far and are evaluable for response; all three had partial responses at the time of the initial scan. Updated data from the ongoing phase 2 clinical trial of poziotinib will be presented at the meeting."
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ACN | Hot Stocks07:02 EDT Accenture raises semi-annual cash dividend 10% to $1.33 per share
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KKR | Hot Stocks06:56 EDT KKR invests $35M in EchoNous - EchoNous, the parent company of Signostics, announced a new $35M investment from KKR. Building on KKR's initial $35M dollar investment in the company in 2015, this additional investment will be used toward funding the ongoing market conversion of the company's Uscan intelligent ultrasound tool for bladder and kidney care, while pursuing the ultimate nursing tool with a vein-finding solution and bringing a major new Artificial Intelligence-driven ultrasound project to market. For KKR, the investment is made as part of the firm's health care growth equity strategy, which is focused on high-growth companies for which KKR can be a unique partner in helping reach scale.
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GSV | Hot Stocks06:53 EDT Gold Standard Ventures to commence drilling at Lewis Project in Nevada - Gold Standard Ventures will commence a drill program in mid-October at its 100%-owned Lewis Project in the Battle Mountain mining district, Lander County, Nevada. The $1.5M program will test a variety of targets with approximately 4,600m of drilling in 11 holes. The 5,340-acre property has several known mineralized zones and potential for new discoveries of economic gold and silver deposits. The project was acquired by Gold Standard as part of its purchase of Battle Mountain Gold completed on June 14. RC drilling will test for extensions of the historical Virgin deposit in the footwall of the Virgin fault. The Virgin gold-silver deposit consists of higher grade structures surrounded by low grade disseminated mineralization within a zone measuring about 600 meters long, 120 meters wide and 180 meters deep. Funds are budgeted for expanding the soil grid to the north and additional gravity coverage.
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MTN | Hot Stocks06:50 EDT Vail Resorts sees FY18 total reported EBITDA $644M-$680M - Commenting on guidance for fiscal 2018, Katz said, "Net income attributable to Vail Resorts, Inc. is expected to be between $234 million and $272 million in fiscal 2018. We estimate Resort Reported EBITDA for fiscal 2018 will be between $652 million and $682 million. Our Resort Reported EBITDA guidance includes the first full fiscal year of operating results for Whistler Blackcomb and Stowe and also includes an estimated $2.6 million of anticipated integration related expenses. Given the very strong performance at Whistler Blackcomb in fiscal 2017, we expect the resort's fiscal 2018 contribution will exceed our initial expectations but the year-over-year growth will be slower due to the outperformance in fiscal 2017. We do expect to see a rebound in our performance in Colorado, assuming more normal early season conditions, an earlier Easter holiday and more available lodging inventory in both Vail and Breckenridge. We expect Stowe's fiscal 2018 results to be in line with our previously issued expectations. We expect Resort EBITDA Margin to be approximately 31.9% in fiscal 2018, using the midpoint of the guidance range. This is an estimated 50 basis point increase over fiscal 2017. We estimate fiscal 2018 Real Estate Reported EBITDA to be between negative $8 million and negative $2 million. Net Real Estate Cash Flow is expected to be between $0 million and $10 million, excluding our expected $4.3 million contribution to the Town of Vail parking structure. All of these estimates are predicated on an exchange rate of $0.81 between the Canadian Dollar and U.S. Dollar, related to the operations of Whistler Blackcomb in Canada and an exchange rate of $0.80 between the Australian Dollar and U.S. Dollar, related to the operations of Perisher in Australia."
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BWXT ACM | Hot Stocks06:47 EDT BWX Technologies joint venture awarded three-year, $928M contract extension - BWX Technologies' (BWXT) Nuclear Waste Partnership joint venture between its subsidiary BWXT Technical Services Group, Inc. and AECOM (ACM) has been awarded a three-year extension to its management and operations contract at the U.S. Department of Energy's Waste Isolation Pilot Plant near Carlsbad, New Mexico. With an expected value of approximately $928M, the modification extends NWP's contract through September 30, 2020, with the potential for an additional two-year option.
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MD | Hot Stocks06:47 EDT Mednax acquires leading Connecticut radiology practice - Mednax announced the acquisition of Jefferson Radiology, PC and Jefferson Imaging Associates based in Hartford, Conn. This partnership meaningfully expands Mednax's radiology services and further establishes Mednax as the partner of choice for leading radiology practices and radiology physician services by combining physician excellence with world-class technological capabilities. Established in 1963, Jefferson Radiology is the largest private radiology group in Connecticut. Comprised of 60 physicians, the practice offers a full spectrum of diagnostic imaging and interventional services at 10 outpatient centers in Hartford County. In addition, the practice is the exclusive provider of radiology services to seven regional hospitals, including Hartford Hospital, Windham Hospital, Connecticut Children's Medical Center, Day Kimball Healthcare, Griffin Hospital, Holyoke Medical Center and Baystate Noble Hospital. This marks the third radiology services practice acquisition in 2017. Upon completion of the transaction, Mednax's affiliated radiologists will read nearly nine million studies annually. This was a cash transaction and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed. With this acquisition, eight physician group practices have become part of Mednax in 2017.
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SPPI | Hot Stocks06:39 EDT Abstract posted at WCLC for Spectrum's poziotinib - An abstract posted last night for the World Conference on Lung Cancer on Spectrum Pharmaceuticals' poziotinib concluded, "Poziotinib has selective activity against EGFR exon 20 mutations and potent activity in cell lines, PDX, and GEM models. Three platinum-refractory patients with EGFR exon 20 mutations have been treated thus far and are evaluable for response; all three had partial responses at the time of the initial scan. Updated data from the ongoing phase 2 clinical trial of poziotinib will be presented at the meeting." Reference Link
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ZYNE | Hot Stocks06:36 EDT Zynerba's ZYN002 gel meets primary endpoint in Phase 2 Fragile X syndrome trial - Zynerba announced positive top line results from an open label exploratory Phase 2 FAB-C clinical trial evaluating ZYN002 cannabidiol gel in pediatric and adolescent patients with Fragile X syndrome. The study successfully met its primary endpoint, achieving a 46% improvement in the total score of Anxiety, Depression, and Mood Scale at week twelve compared to baseline. ZYN002 also achieved clinically meaningful improvements in all measures of the Aberrant Behavior Checklist for Fragile X, which address key symptoms of FXS. With these data, Zynerba anticipates that it will meet with the FDA in 1H18 with the goal of moving quickly into a pivotal Phase 2/3 program in pediatric and adolescent patients with FXS in 2018. The FDA has granted Zynerba Orphan Drug designation for the use of CBD as treatment of patients with FXS. The ADAMS is a 28-item scale designed to assess general anxiety, social avoidance, compulsive behavior, manic/hyperactive behavior, and depressed mood. The results of the secondary endpoints reinforce the results demonstrated in the ADAMS. ZYN002 was shown to be very well tolerated, and the safety profile was consistent with previously released data from clinical trials. No adverse events were considered severe.
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AAPL | Hot Stocks06:21 EDT Apple: iPhone X's Face ID not as secure for twins, children under 13 - Apple released security guidelines on Wednesday about iPhone X's Face ID, the feature that allows users to unlock the device just by looking at it. In the document, Apple said that the probability of a random person unlocking an iPhone X with Face ID is 1 in 1,000,000 versus 1 in 50,000 for its previous fingerprint sensor. However, the company noted that "The probability of a false match is different for twins and siblings that look like you as well as among children under the age of 13, because their distinct facial features may not have fully developed. If you're concerned about this, we recommend using a passcode to authenticate." Reference Link
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CB | Hot Stocks06:19 EDT Chubb signs distribution agreement with Singapore's DBS Bank - Chubb has entered into a 15-year distribution agreement with DBS Bank, the largest banking group in Southeast Asia. Under the terms of the agreement, Chubb will distribute general insurance products on an exclusive or preferred basis through multiple DBS banking channels. The partnership covers five markets in Asia - Singapore, Hong Kong, Taiwan, Indonesia and China. Based in Singapore, DBS is a financial services group that offers consumer banking, wealth management, and commercial banking for small and medium-sized enterprises, with nearly 7 million customers.
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TOSBF... | Hot Stocks06:19 EDT Toshiba approves sale of TMC to consortium led by Bain Capital - Toshiba's (TOSBF, TOSYY) board, as announced on September 20, "Notice on the Sale of Toshiba Memory Corporation," has approved the sale of all shares of Toshiba Memory Corporation, or TMC, a wholly owned subsidiary of Toshiba to K.K. Pangea, a special purpose acquisition company formed and controlled by a Bain Capital Private Equity, LP-led consortium. Toshiba has entered into a Share Purchase Agreement, or SPA, with Pangea. U.S. investors are comprised of Apple (AAPL), Kingston Technology, Seagate Technology (STX), and Dell Technologies Capital. Western Digital (WDC) has sought to prevent a transfer of Toshiba's interest in certain Joint Ventures between Toshiba and SanDisk, a subsidiary of Western Digital, to any third party. Toshiba and SanDisk are currently engaged in litigation and arbitration. The SPA contemplates that the sale of TMC will be consummated even if the Joint Venture interests have not been transferred to TMC prior to the closing unless the transfer of TMC's stock itself is blocked by an injunctive order. Upon satisfaction of all conditions, the closing of the share transfer will be on the first business day of the month immediately following the month in which the conditions are satisfied or waived. If such conditions are not satisfied or waived at least 11 business days prior to the first business day of such month, then the closing shall take place on the first business day of the following month. If the conditions are satisfied or waived during the period starting on February 15, 2018 and ending on the end of March 23, 2018, the closing shall occur on March 30, 2018. The SpA requires both Toshiba and Pangea to use their reasonable best efforts so as to complete the closing and Toshiba intends to close by the end of March 2018.
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AAPL | Hot Stocks06:17 EDT Apple publishes paper detailing security measures of iPhone X's Face ID - Apple published a technical paper that details the security measures of the iPhone X's Face ID. The new identification system will work with all of the apps that used Touch ID, but is not designed for children under age 13. Reference Link
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DDAIF | Hot Stocks06:13 EDT Daimler acquires ride sharing provider Flinc - Daimler Mobility Services has announced the full acquisition of the Darmstadt-based flinc GmbH. flinc is a provider of door-to-door ridesharing for short- and medium-haul routes. The start-up launched the flinc platform for short-distance carpooling in 2011. Today, around half a million customers are registered with the platform. As the first ridesharing solution, flinc was integrated into free floating carsharing platforms, local public transport apps and app-based navigation systems. Many renowned companies use flinc's corporate ridesharing solution to secure and improve employee mobility. flinc GmbH will continue to operate independently. The founders Dr. Klaus Dibbern, Michael Hubl and Benjamin Kirschner will remain in the leadership team.
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TM... | Hot Stocks06:09 EDT Toyota to form electric car technology venture with Mazda, Denso - Mazda Motor Corporation (MDZAF), Denso Corporation (DNZOY), and Toyota Motor Corporation (TM) signed a contract to jointly develop basic structural technologies for electric vehicles. Furthermore, the three companies have also decided to establish a new company consisting of selected engineers from the three companies to ensure the efficient implementation of the joint technological development projects. Mazda, Denso, and Toyota have decided to jointly develop basic structural technologies for EVs capable of covering a wide variety of vehicle segments and types to ensure flexible and rapid response to market trends. This agreement covers a diverse range of models, from minivehicles to passenger vehicles, SUVs, and light trucks, and aims to innovate the development process by combining the strengths of each company, including Mazda's bundled product planning and prowess in computer modeling-based development, Denso's electronics technologies, and the Toyota New Global Architecture platform. The new company will engage in the following: Research into the characteristics that define optimum performance and functions of EVs from the standpoint of both individual components and the whole vehicle Verification of component installation and vehicle performance realized by the characteristics achieved in item 1) Examination of the optimum concept for each car classification with regard to each component and each type of vehicle realized by achieving items 1) and 2). Through this joint technological development project, by dedicating an equal amount of development resources, ensuring efficient development processes, and taking advantage of existing production facilities, Mazda and Toyota intend to focus their resources on fundamental vehicle values to enable the creation of appealing EVs that embody the unique identities of each brand and avoid the commoditization of EVs. The companies also aim to create a business structure that is open to participation by other automakers and suppliers. Toyota will take a 90% stake in the joint venture, called EV Common Architecture Spirit Co Ltd, while Mazda and Denso Corp, Toyota's biggest supplier, will each take 5%.
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PODD | Hot Stocks06:07 EDT Insulet opening manufacturing facility in Massachusetts - Insulet will host a groundbreaking celebration at its new manufacturing facility on a 26-acre site in Acton, Massachusetts. The new $100M facility is expected to create hundreds of local jobs. The company plans to begin production at this location in 2019.
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MESO | Hot Stocks06:06 EDT Mesoblast completes enrollment of Phase 2b trial of MPC therapy - Mesoblast announced that a multi-center team of researchers led by Icahn School of Medicine at Mount Sinai Hospital, New York, has completed enrollment of a 159-patient Phase 2b trial evaluating Mesoblast's novel allogeneic mesenchymal precursor cell therapy for the treatment of end-stage heart failure. The trial is funded by the United States National Institutes of Health and the Canadian Institute of Health Research. Due to the serious, life-threatening nature of end-stage heart failure, positive trial results using Mesoblast's product candidate MPC-150-IM in end-stage heart failure patients requiring left ventricular assist devices could provide support for an accelerated regulatory pathway.
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ATHM | Hot Stocks06:03 EDT Autohome CFO Julian Jiun-lang Wang resigns, Jun Zou to succeed - Autohome announced that Jun Zou has been appointed to serve as the CFO of the company, and that Yan Kang and Julian Jiun-lang Wang have resigned as president and CFO of the company, respectively. Kang and Wang also resigned from the board of directors of the company. The appointment and resignations all took effect as of September 28. The resignations of Kang and Wang were not due to any disagreement with the company regarding its business, finance, accounting and/or any other affairs. Following their resignations, the Board is now comprised of seven members.
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FB | Hot Stocks06:02 EDT Facebook's connectivity team to deliver telecommunications assistance to PR - Facebook CEO Mark Zuckerberg says in a post, "I've been following the news from Puerto Rico where millions of Americans still don't have food, water, fuel and electricity after Hurricane Maria. Communication is critical during a disaster. With 90% of cell towers on the island out of service, people can't get in touch with their loved ones -- and it's harder for rescue workers to coordinate relief efforts. We're working to get Puerto Rico back online. We're sending the Facebook connectivity team to deliver emergency telecommunications assistance to get the systems up and running. We're also supporting this work with a $1.5M donation to NetHope and the World Food Programme. We're also donating Facebook ads to get critical information to people in the region on how to get assistance and stay safe." Reference Link
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HP | Hot Stocks06:01 EDT Helmerich & Payne CFO Juan Pablo Tardio to retire in June, 2018 - Helmerich & Payne announced that Juan Pablo Tardio, Vice President and CFO, has informed the company of his intention to retire in June of 2018. The company will soon begin a comprehensive search for CFO candidates. Tardio will continue to serve in his current role until a successor is identified and has an opportunity to effectively transition into that position.
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FB | Hot Stocks06:00 EDT Facebook's Zuckerberg responds to Trump's 'always anti-Trump' claims - In a Facebook post on Wednesday afternoon, Facebook CEO Mark Zuckerberg responded to President Trump's Wednesday morning tweet claiming that "Facebook has always been against him." "Every day I work to bring people together and build a community for everyone. We hope to give all people a voice and create a platform for all ideas. Trump says Facebook is against him. Liberals say we helped Trump. Both sides are upset about ideas and content they don't like. That's what running a platform for all ideas looks like. The facts suggest the greatest role Facebook played in the 2016 election was different from what most are saying: More people had a voice in this election than ever before. There were billions of interactions discussing the issues that may have never happened offline. Every topic was discussed, not just what the media covered. This was the first US election where the internet was a primary way candidates communicated. Every candidate had a Facebook page to communicate directly with tens of millions of followers every day. After the election, I made a comment that I thought the idea misinformation on Facebook changed the outcome of the election was a crazy idea. Calling that crazy was dismissive and I regret it. This is too important an issue to be dismissive. But the data we have has always shown that our broader impact -- from giving people a voice to enabling candidates to communicate directly to helping millions of people vote -- played a far bigger role in this election. We will continue to work to build a community for all people. We will do our part to defend against nation states attempting to spread misinformation and subvert elections. We'll keep working to ensure the integrity of free and fair elections around the world, and to ensure our community is a platform for all ideas and force for good in democracy." Reference Link
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STX | Hot Stocks05:46 EDT Seagate to participate in consortium led by Bain to acquire Toshiba Memory - Seagate Technology (STX) announced its participation in the consortium led by Bain Capital Private Equity that has entered into an agreement with Toshiba Corporation to acquire Toshiba Memory Corporation. In the agreement, Seagate has committed to provide up to $1.25B in financing to support the acquisition, to be provided at closing, which is expected by March 2018. In addition, Seagate expects to enter into a long-term NAND supply agreement with Toshiba Memory that will provide continuity of raw NAND for Seagate's expanding SSD product portfolio. Seagate expects this transaction to be accretive to its earnings. "Over the course of many years, Seagate has developed an excellent long-term relationship with Toshiba Memory, and we have always been impressed with their consistent leadership in advancing NAND technology," said Steve Luczo, Seagate's chairman and chief executive officer. "We are pleased and honored to be part of the Bain Capital consortium and to help facilitate maintaining Toshiba Memory as a world leading independent NAND technology company. We know that Bain Capital is dedicated to the long-term success of Toshiba Memory and believe this acquisition is in the long-term best interests of our industry and of storage customers worldwide."
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ALV | Hot Stocks05:42 EDT Autoliv to acquire certain assets of Swedish-based LiDAR specialist company - Autoliv has signed an agreement to acquire certain assets of a Swedish based LiDAR specialist company. Located in Stockholm and Skelleftea, Sweden, Fotonic i Norden AB is a LiDAR and Time of Flight camera specialist that designs, develops, and manufactures these products. The acquisition represents a transfer of certain intellectual property rights, development and prototyping assets and development resources of Fotonic i Norden AB, including about 35 engineering experts in the field of LiDAR and Time of Flight cameras. The transaction is expected to close before year-end 2017, and is subject to customary closing conditions. The acquired assets and resources will become part of the Autoliv Electronics segment.
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CSTM FCAU | Hot Stocks05:40 EDT Constellium extends long-term partnership with Fiat Chrysler - Constellium (CSTM) announced that it extends its long-term partnership with the Fiat Chrysler Automotive (FCAU) to supply aluminium Auto Body Sheet for the new Alfa Romeo Stelvio. This first ever SUV produced by Alfa Romeo hit the road early 2017, and is the second vehicle produced on the newly launched FCA Giorgio platform. Constellium is the primary supplier of Auto Body Sheets both for the closures and inner parts for the Stelvio.
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NVS | Hot Stocks05:38 EDT Novartis enters collaboration with UC Berkeley - Novartis has joined forces with researchers from the University of California, Berkeley, to develop new technologies for the discovery of next-generation therapeutics, pursuing the vast number of disease targets in cancer and other illnesses that have eluded traditional small-molecule compounds and are considered "undruggable." The collaboration establishes the Novartis-Berkeley Center for Proteomics and Chemistry Technologies, based in existing labs at Berkeley, and includes support for joint research projects between Novartis and Berkeley scientists. The projects harness covalent chemoproteomics technology that rapidly maps locations on protein targets-including those that have been considered "undruggable"--where compounds could form lasting bonds while providing starting points for novel therapeutics.
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EXA | Hot Stocks05:37 EDT Exa Corp. to be acquired by Dassault Systemes for $24.25 per share - Exa Corporation announced that its board has unanimously agreed to be acquired by Dassault Systemes in a transaction valued at approximately $400M or $24.25 per share. Under the terms of the merger agreement, a subsidiary of Dassault Systemes will commence a tender offer within the next 10 business days to acquire all of the issued and outstanding shares of Exa common stock for a price of $24.25 per share payable in cash upon completion of the offer. This represents a fully diluted equity value for Exa of approximately $400M. The acquisition is expected to close in Q4.
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SNY REGN | Hot Stocks05:36 EDT Sanofi, Regeneron announce approval of Dupixent in EU - Sanofi (SNY) and Regeneron (REGN) announced that the European Commission has granted marketing authorization for Dupixent, for use in adults with moderate-to-severe atopic dermatitis, or AD, who are candidates for systemic therapy. Dupixent is approved in the U.S. for the treatment of adults with moderate-to-severe atopic dermatitis that is not well controlled with prescription therapies used on the skin, or who cannot use topical therapies. Dupixent can be used with or without topical corticosteroids. It is not known if Dupixent is safe and effective in children.
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FTI STO | Hot Stocks05:31 EDT TechnipFMC awarded EPCI contract for Statoil Peregrino Phase II Project - TechnipFMC (FTI) has been awarded by Statoil (STO) an Engineering, Procurement, Construction and Installation, or EPCI, contract. It covers the execution of the subsea pipeline connection for the new production platform in Peregrino Phase II Project, located in Campos Basin, offshore Brazil. This new fixed platform will be connected by the in-field lines to the existing platform. TechnipFMC will be responsible for the overall execution for engineering, procurement, manufacturing, construction, installation and pre-commissioning of the rigid pipelines, flexible lines and the required subsea equipment. The company will leverage local capabilities as well as the global state of the art pipelay fleet for the offshore campaign, which is scheduled to start in 2019.
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KKR | Hot Stocks05:13 EDT KKR invests in Shenzhen Suishou Technology - Shenzhen Suishou Technology and KKR announced the signing of a definitive agreement under which KKR will invest in Suishou's Series C funding round to support the company's expansion across China. Suishou's partnership with KKR expands the company's group of world-class investors, which include Sequoia Capital, Fosun Group and Source Code Capital. KKR makes the investment from its Asian Fund III. Further details of the transaction were not disclosed.
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VRX | Hot Stocks05:12 EDT Valeant provides update on Canadian regulatory filing about financing plans - Valeant Pharmaceuticals routinely evaluates refinancing opportunities, including capital markets transactions, to continue to enhance its capital structure. As part of this, the company filed a routine private placement exemption application with Autorite des marches financiers, the principal securities regulator in Quebec. At this time, no decision has been made with respect to any capital markets transactions. The company does not intend to provide any updates on its financing plans until a definitive decision on any such financing has been made.
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