Stockwinners Market Radar for July 02, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
SYMC... | Hot Stocks19:05 EDT Fly Intel: After Hours Movers - HIGHER: Symantec (SYMC), up 22.2% after Bloomberg reported that it is in advanced talks to be acquired by Broadcom (AVGO)... Tesla (TSLA), up 7.2% after reporting Q2 production and deliveries data. LOWER: Usana (USNA), down 16.6% after it provided preliminary Q2 results and lowered its guidance for fiscal 2019... Broadcom, down 4.4% after Bloomberg reported that it is in advanced talks to acquire Symantec.
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ESV | Hot Stocks18:41 EDT Ensco Rowan to change its name to Valaris - Ensco Rowan announced that it will change its name to Valaris, effective July 31. Following its name change, the Company's ordinary shares will trade under the new ticker symbol VAL.
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AKS... | Hot Stocks18:10 EDT U.S. places duties on steel from Vietnam originally made in SK, Taiwan - The U.S. Department of Commerce announced three preliminary affirmative circumvention rulings involving exports of steel products from Vietnam. The circumvention rulings cover certain steel products that are first produced in Korea and Taiwan, which are then shipped to Vietnam for minor processing, and finally exported to the United States as corrosion-resistant steel products and cold-rolled steel. As a result of today's affirmative circumvention determinations, Commerce will instruct Customs and Border Protection to begin collecting cash deposits on imports of corrosion-resistant steel products and cold-rolled steel produced in Vietnam using Korean- or Taiwanese-origin substrate. These duties will be imposed on future imports, and also on any unliquidated entries since August 2, 2018. The applicable cash deposit rates will be as high as 456.23%, depending on the origin of the substrate and the type of steel product exported to the United States. Publicly traded companies in the space include AK Steel (AKS), ArcelorMittal (MT), Nucor (NUE), Steel Dynamics (STLD), TimkenSteel (TMST) and U.S. Steel (X). Reference Link
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MMM | Hot Stocks18:04 EDT CLEARink and FLEx Lighting announce collaboration 3M - CLEARink Displays and FLEx Lighting announced a collaboration to create ePaper display solution based on CLEARink's ePaper 2.0 and FLEx's ultra-thin front light. The companies had together built a prototype 9.7" color ePaper display with front light and their tradeshow booth won the prestigious People's Choice Award at the recently concluded Society for Information Display's (SID) world renowned Display Week exhibition in San Jose, California. CLEARink's patent protected, display technology based on Electrophoretic Total Internal Reflection is low power, sunlight readable, color and video capable. CLEARink has raised over $25M million in financing from strategic investors such as M Ventures, the corporate venture capital arm from Merck, Darmstadt, Germany, 3M and Lenovo.
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PLAN | Hot Stocks18:02 EDT Anaplan CEO sells 100,000 common shares - In a regulatory filing, Anaplan president and CEO Frank Calderoni disclosed the sale of 100,000 common shares of the company at a price of $49.7462 per share.
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NSRGY | Hot Stocks18:01 EDT Nestle to collaborate with OpenSC over open blockchain pilot - Nestle said it will break new ground in supply chain transparency through a collaboration with OpenSC - a blockchain platform that allows consumers to track their food right back to the farm. Through this collaboration, Nestle becomes the first major food and beverage company to announce that it will pilot open blockchain technology in this way, it said. Founded by WWF-Australia and The Boston Consulting Group Digital Ventures, OpenSC has developed a platform that will give anyone, anywhere access to independently verifiable sustainability and supply chain data. The initial pilot program will trace milk from farms and producers in New Zealand to Nestle factories and warehouses in the Middle East. Later, the technology will be tested using palm oil sourced in the Americas. These pilots will allow Nestle to understand how scalable the system is. Nestle has piloted blockchain technology since 2017, most prominently with IBM Food Trust. In April, it gave consumers access to blockchain data for the first time, through Mousline puree in France.
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WRK | Hot Stocks17:40 EDT WestRock urges holders to reject mini-tender offer by TRC Capital - WestRock Company announced that it has received notification of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 3,000,000 shares, or approximately 1.17% of the outstanding common stock of the company as of April 19, 2019. TRC Capital's offer price of $34.80 per share in cash is 4.58% less than the $36.47 closing price of the company's common stock on June 28, 2019, the last trading day before the mini-tender offer commenced, and 6.55% less than the $37.23 closing price of the company's common stock on July 2, 2019. The company said it does not endorse TRC Capital's mini-tender offer and recommends that stockholders do not tender their shares in response to the offer. The offer is at a price below the current market price for WestRock shares and is subject to numerous conditions, including, among others, that there has not been any decrease in the market price of the WestRock shares and that TRC Capital has received proceeds of debt financing sufficient, together with cash on hand, to consummate the offer. The company urges stockholders to obtain current market quotes for their shares, review the conditions to TRC Capital's mini-tender offer, consult with their brokers or financial advisors and exercise caution with respect to this mini-tender offer. The company is in no way associated with TRC Capital, the mini-tender offer or the offer documentation.
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KRTX | Hot Stocks17:25 EDT Karuna Therapeutics director Robert Nelsen buys $3.2M in company shares - Karuna Therapeutics director Robert Nelsen disclosed in a filing that he had purchased 200,000 shares of company stock at an average price of $16 per share on July 2. The total transaction value of the purchase was $3,200,000.
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LMT | Hot Stocks17:18 EDT Lockheed Martin awarded $348.22M Navy contract modification - Lockheed Martin has been awarded $348.22M for modification to a previously awarded cost-plus-fixed-fee contract. This modification is for production non-recurring, special tooling and special test equipment in support of low-rate initial production Lot 12 F-35 Lightning II aircraft for the Air Force, Navy, Marine Corps, non-U.S. Department of Defense, or DoD, partners and foreign military sales customers. Work is expected to be completed in August 2022. FY17 aircraft procurement; FY18 and FY19 aircraft procurement; non-U.S. DoD partner and foreign military sales funds in the amount of $348.22M are being obligated at time of award, $17.9M of which will expire at the end of the current fiscal year. This modification combines purchases for the Air Force, Navy, Marine Corps, non-U.S. DoD partners and foreign military sales customers. The Naval Air Systems Command is the contracting activity.
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LOGI | Hot Stocks17:00 EDT Logitech proposes 10% annual increase for FY19 dividend - Logitech International outlined a number of proposals, approved by its board, on which it will ask shareholders to vote at the company's annual general meeting, or AGM. The proposals include: The election to the board of Guy Gecht, former CEO of Electronics for Imaging, and Michael Polk, former president and CEO of Newell Brands; The election of Wendy Becker as Logitech's new chairperson following the 2019 AGM. This follows a decision by Guerrino De Luca not to stand for re-election as chairperson when his current term ends. Guerrino De Luca will remain on the board, subject to his re-election as a member of the board; A 10% annual increase for Logitech's FY19 dividend. Logitech's AGM will take place on September 4.
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AA RIO | Hot Stocks16:38 EDT Alcoa announces planned restart, new labor deal for ABI smelter in Quebec - Alcoa Corporation (AA) announced that the Aluminerie de Becancour Inc. smelter plans to restart curtailed smelting capacity after members of the United Steelworkers union in Quebec, Canada today approved a six-year labor agreement. The smelter, owned by Alcoa and Rio Tinto Alcan Inc. (RIO), has total annual capacity of 413,000 metric tons per year. The restart will begin on July 26, 2019 and is expected to be complete in the second quarter of 2020. Salaried employees had operated one of three potlines during the lockout, until Alcoa announced an additional curtailment of one half of that potline on December 19, 2018. The ABI smelter will recall the approximately 900 unionized employees according to a specific back-to-work protocol, with all of those on lockout back within eight months of the July 26, 2019 restart date. In the second half of 2019, the company expects to record special items associated with restart expenses of between $40M and $50M after-tax, or 22c and 27c per share.
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UMRX | Hot Stocks16:34 EDT Unum Therapeutics announces clinical hold on Phase 1 ATTCK-20-2 trial from FDA - Unum Therapeutics announced that the FDA has placed a clinical hold on the Phase 1 trial ATTCK-20-2 evaluating Unum's ACTR087 in combination with rituximab following lymphodepleting chemotherapy with fludarabine and cyclophosphamide in patients with relapsed/refractory CD20+ B cell non-Hodgkin lymphoma, or r/r NHL. The clinical hold was initiated following the submission of a safety report by Unum to the FDA regarding one patient in the safety expansion cohort of the trial who recently experienced serious adverse events that included Grade 3 neurotoxicity and cytomegalovirus, or CMV, infection and Grade 4 respiratory distress. In November 2018, Unum announced it was deprioritizing ACTR087 as its lead product candidate in combination with rituximab to treat patients with r/r NHL in order to advance its new ACTR construct, ACTR707, in this setting. As a result of this decision, in May, Unum announced its completion of enrollment in the Phase 1 ATTCK-20-2 trial with ACTR087. FDA has agreed that patients who previously received ACTR087 and have ongoing clinical responses may continue to receive rituximab infusions, with continued monitoring for adverse events. Unum will continue to work closely with the FDA to further review these events and continues to plan to report data from the ATTCK-20-2 trial at the end of 2019.
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NPO | Hot Stocks16:34 EDT EnPro acquires Aseptic Group, terms not disclosed - EnPro Industries announced it has acquired The Aseptic Group, a privately-held company which distributes, designs and manufactures aseptic fluid transfer products for the pharmaceutical and biopharmaceutical industries. The Aseptic Group will become part of EnPro's Garlock Family of Companies, a global supplier of high-performance sealing and fluid handling products to process industries. The business was acquired in a cash transaction.
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ACUR | Hot Stocks16:32 EDT Acura announces agreement with Abuse Deterrent Pharma for LTX-03 - Acura Pharmaceuticals announced a License, Development and Commercialization Agreement with Abuse Deterrent Pharmaceuticals, a special purpose company representing a consortium of investors that will finance Acura's operations and completion of development of LTX-03 immediate-release tablets utilizing Acura's patented LIMITx technology which addresses the consequences of excess oral administration of opioid tablets, the most prevalent route of opioid overdose and abuse. AD Pharma retains commercialization rights from which Acura will receive royalties and potential sales related milestones.
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STIM | Hot Stocks16:31 EDT Neuronetics names Stephen Furlong CFO - Neuronetics announced that Stephen Furlong will become its new Chief Financial Officer and Secretary, replacing Peter Donato, who will be leaving the company after a transition period. Furlong will assume the role of CFO and Secretary effective July 22, 2019. Furlong most recently served as Senior Vice President of Finance and Corporate Secretary at Metabolon, a global player in metabolomics, a powerful phenotyping technology for advancing biomarker discovery, diagnostic testing and precision medicine. "We are very excited to have Steve join Neuronetics as CFO. Steve brings valuable and highly relevant financial leadership experience with fast growing companies in the medical technology industry to Neuronetics and will be a valuable addition to the senior management team as we look to continue to drive the adoption of NeuroStar Advanced Therapy and expand our market leadership position," said Chris Thatcher, President and Chief Executive Officer of Neuronetics. "I would like to thank Peter for all of his contributions to Neuronetics and wish him all the best going forward. During his nearly three years with the Company, Peter played an integral part in our IPO and was instrumental in growing, scaling and transitioning Neuronetics into a successful public company."
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TSLA | Hot Stocks16:23 EDT Tesla higher by 6.8% after reporting Q2 production, deliveries data
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TSLA | Hot Stocks16:21 EDT Tesla Tesla produces 72,531 Model 3, delivers 77,550 Model 3 in Q2
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TSLA | Hot Stocks16:21 EDT Tesla produces 14,517 Model S/X, delivers 17,650 Model S/X in Q2
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TSLA | Hot Stocks16:20 EDT Tesla produces 87,048 vehicles, delivers 95,200 vehicles in Q2 - In Q2, Tesla achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles. In addition, the company said, "we made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position. Orders generated during the quarter exceeded our deliveries, thus we are entering Q3 with an increase in our order backlog. We believe we are well positioned to continue growing total production and deliveries in Q3." Customer vehicles in transit at the end of the quarter were over 7,400. Due to the order-to-VIN matching process it described in the Q1 2019 Shareholder Letter, which it extended to Model S and Model X in Q2 to improve process efficiency, this metric has become less relevant. As a result, Tesla does not plan to disclose the customer vehicles in transit metric going forward.
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GAIN | Hot Stocks16:11 EDT Gladstone Investment partners with Slate to acquire Horizon Facilities Services - Gladstone Investment announced that it partnered with Slate Capital and members of the company's executive management in the acquisition of Horizon Facilities Services. Gladstone Investment provided equity and senior secured debt to complete the transaction. Horizon is a provider of outsourced services to the rental car industry under the managed labor solutions brand. Additionally, Horizon provides commercial janitorial services under the professional maintenance brand. Horizon partners with its customers through a transaction-based pricing model which enhances customer cost visibility.
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IIN | Hot Stocks16:10 EDT IntriCon repositions hearing aid sales in UK through new distribution pact - IntriCon announced it has entered into a distribution agreement with Puretone, a Rochester, UK-based hearing health company with operations in more than 75 countries. Under the terms of the agreement, Puretone will distribute IntriCon branded hearing aids into the National Health Service system on the Company's behalf. Additionally, IntriCon completed the sale of its PC Werth accessory business assets to Warner Tech-care UK LTD, a subsidiary of US based Warner Tech-care LLC. Warner will continue to sell the accessories and services under the PC Werth brand names in the region. In connection with the distribution agreement and sale of assets, IntriCon ceased all production and direct sales activities at its UK Limited subsidiary, effective June 28, 2019. The closure is expected to provide the Company with a cost reduction of approximately $1.0 million annually. "We are delighted to partner with Puretone. They are a well-respected, global hearing health provider that has a proven track record for reaching the UK's substantial customer base," said Mark Gorder, President and Chief Executive Officer. "Importantly, this shift from direct sales to a distribution model in the UK not only provides us with a reduced cost structure but enables us to better focus our resources on our value-based hearing healthcare opportunities, most notably the large emerging OTC hearing aid market in the US."
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ABUS ALNY | Hot Stocks16:07 EDT Arbutus sells part of its Onpattro royalty interest to OMERS - Arbutus Biopharma (ABUS) announced the sale of part of its royalty interest on future global net sales of ONPATTRO , patisiran, an RNA interference, RNAi, therapeutic currently being sold by Alnylam Pharmaceuticals (ALNY), to OMERS, the defined benefit pension plan for municipal employees based in the Province of Ontario, Canada. Morgan Stanley acted as sole structuring agent on the transaction. ONPATTRO is the first-ever RNAi therapeutic to be available for patients and was approved by the U.S. Food and Drug Administration (FDA) for the treatment of hereditary transthyretin-mediated, hATTR, amyloidosis with polyneuropathy on August 13, 2018, and by the European Commission for the treatment of hATTR amyloidosis in adults with stage 1 or stage 2 polyneuropathy on August 30, 2018. ONPATTRO utilizes Arbutus's lipid nanoparticle, LNP, technology, which was licensed to Alnylam in November 2012. "ONPATTRO represents an important advance for patients with hATTR amyloidosis. This monetization opportunity is valuable for us as it both extends our runway with non-dilutive capital and maintains valuable downstream royalties," stated Michael McElhaugh, Arbutus's Chief Business Officer. Under the terms of the LNP license agreement with Alnylam for ONPATTRO, Arbutus is entitled to tiered royalty payments on net sales of Onpattro ranging from 1.00% - 2.33% after offsets, with the highest tier applicable to annual net sales above $500M. This royalty interest has been sold to OMERS, effective as of January 1, 2019, for $20M in gross proceeds before advisory fees. OMERS will retain this entitlement until it has received $30 million in royalties, at which point 100% of the entitlement will revert to Arbutus. In addition to this royalty from the Alnylam LNP license agreement, Arbutus is also entitled to a second, but lower, royalty interest on net sales of ONPATTRO originating from a settlement agreement and subsequent license agreement with Acuitas Therapeutics. The royalty from Acuitas has been maintained by Arbutus and is not part of the royalty sale to OMERS.
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AKRO | Hot Stocks16:06 EDT Akero announces dosing of first patient in Phase 2a clinical study of AKR-001 - Akero Therapeutics announced the dosing of the first patient in its Phase 2a clinical study of AKR-001, a novel FGF21 analog, for the treatment of NASH. The Phase 2a BALANCED study is a multicenter, randomized, double-blind, placebo-controlled, dose-ranging trial in biopsy-confirmed patients with NASH. Up to 80 patients are expected to be randomized to receive weekly subcutaneous dosing of AKR-001 or placebo for up to 16 weeks, with safety and tolerability followed through week 20. The primary efficacy endpoint for the study is absolute change from baseline in hepatic fat fraction measured by Magnetic Resonance Imaging - Proton Density Fat Fraction Week 12.
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GVP | Hot Stocks16:06 EDT GSE Systems' True North partners with Utility Services Alliance - GSE Systems announced that its True North Consulting subsidiary has become a new specialty engineering partner with the Utility Services Alliance. Consisting of nine nuclear plant sites across the United States, USA is a not-for-profit cooperative designed to facilitate collaboration among its member utilities. Together, members strive to improve safety and performance, provide innovation and leadership within the nuclear power industry, while reducing operating and maintenance costs.
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MKTX | Hot Stocks16:04 EDT MarketAxess announces monthly training volume of $182.9B for June - MarketAxess announced total monthly trading volume for June of $182.9B, consisting of $91.3B in U.S. high-grade volume, $86.5B in other credit volume and $5B in liquid products volume.
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CBZ | Hot Stocks16:03 EDT CBIZ to acquire assets of Paydayta of Solon - CBIZ announced the acquisition of substantially all the assets of Paydayta of Solon, Ohio, effective July 1. Paytime is an Ohio-based payroll service provider with 37 employees and approximately $4M in revenue.
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MDRX | Hot Stocks16:02 EDT Veradigm partners with ACC to develop research network - Veradigm, an Allscripts business unit dedicated to simplifying healthcare with data driven health insights and technologies to help manage costs and improve health outcomes, announced that it has partnered with the American College of Cardiology to power the next generation of real-world research on behalf of cardiovascular disease and diabetes patients around the world. As part of this partnership, Veradigm will operate the PINNACLE Registry, which focuses on coronary artery disease, hypertension, heart failure, atrial fibrillation and diabetes in the outpatient setting, and the Diabetes Collaborative Registry, the first global, cross-specialty clinical registry designed to track and improve the quality of diabetes and metabolic care across the primary care and specialty care continuum from the American College of Cardiology. PINNACLE and Diabetes Collaborative Registries will extend Veradigm's EHR-enabled ambulatory research network to create a large-scale chronic disease network with more than 250,000 clinicians and 150 million patients including Veradigm partner data sets in the United States. In addition to integrating Veradigm's technology, data and analytic capabilities with the ACC's PINNACLE Registry and Diabetes Collaborative Registry, the partnership will leverage Veradigm's large specialist and primary care provider network, utilizing its electronic health record platforms to bring ACC's clinical guidelines, decision pathways, education and wealth of provider and patient engagement tools to the point of care.
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CCRN | Hot Stocks15:58 EDT Cross Country Healthcare merges permanent search recruitment brands - Cross Country Healthcare announced it has merged its signature permanent search brands - Cejka Physician Search, AP Healthcare, StarMed and Cross Country Staffing's RPO division - under the new Cross Country Search brand. The consolidation leverages the strength of each brand to offer the widest range of permanent search solutions and delivery models to meet the evolving needs of both healthcare clients and talent, the company said. Cross Country Search will be led by David Pantano, who is the division's newly appointed president. Pantano most recently served as Managing Partner and Senior Vice President of AP Staffing, which was acquired by Cross Country Healthcare in December 2018. Focusing exclusively on healthcare executive placement, the Cejka Executive Search division remains under the leadership of Paul Esselman, who was appointed its president in April.
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AMBR | Hot Stocks15:57 EDT Amber Road trading resumes
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NKE | Hot Stocks15:34 EDT StockX CEO says removed Nike Air Max 1 USA from its site - StockX CEO Scott Cutler tweeted that the company has opted to remove the Nike Air Max 1 USA from its site today and prohibit any further sales of the item on StockX as the sale of the product on its platform "does not align with our value system." Reference Link
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ASFI | Hot Stocks14:23 EDT RBF Capital reports 5.98% passive stake in Asta Funding - In a regulatory filing, RBF Capital disclosed a 5.98% stake in Asta Funding, which represents 400,000 shares of common stock. The filing does not allow for activism.
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HMC | Hot Stocks13:55 EDT Honda reports June U.S. sales down 7.3% to 135,901 vehicles - Sales of Honda trucks were strong in June, with Ridgeline gaining 5%, CR-V exceeding 30,000 deliveries, and both Passport and Pilot finishing at high levels, the company said in a statement. "With about 25% retail market share, the Honda Civic continues to be the benchmark vehicle in the compact segment," said Henio Arcangeli, Jr. senior vice president of Automobile Sales at American Honda Motor Co. "For Acura, RDX continues to deliver solid results, remaining the retail sales leader in the most competitive segment in the luxury market."
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Hot Stocks13:18 EDT European Council appoints new EU leaders, nominates Lagarde for ECB - The European Council elected Charles Michel as President of the European Council for the period from 1 December 2019 until 31 May 2022. The European Council also welcomed the decision of the Heads of State or Government of the Member States whose currency is the euro to appoint Charles Michel as President of the Euro Summit, for the same term of office. The European Council adopted the decision proposing Ursula von der Leyen to the European Parliament as candidate for President of the European Commission. The proposed candidate will need to be elected by the European Parliament by a majority of its component members. The European Council also considered Josep Borrell Fontelles to be the appropriate candidate for High Representative of the Union for Foreign Affairs and Security Policy. The formal appointment of the High Representative by the European Council requires the agreement of the President-elect of the Commission. The European Council also considered Christine Lagarde to be the appropriate candidate for President of the European Central Bank. The European Council will take a formal decision on the appointment on the basis of a Council recommendation, after having consulted the European Parliament and the ECB's Governing Council. The mandate for the President of the European Central Bank is for 8 years non-renewable. Reference Link
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KEYS | Hot Stocks13:05 EDT Keysight Technologies appoints Jeffrey Li as SVP, general counsel and secretary - Keysight Technologies announced that Jeffrey Li has been appointed as SVP, general counsel and secretary of the company. As general counsel, he will lead Keysight's legal, compliance, and customer contracts functions. In addition, Li acts as secretary to Keysight's Board of Directors. Li has served as VP, assistant general counsel and assistant secretary of Keysight since December 2013.
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DLX CRM | Hot Stocks13:01 EDT Deluxe expands existing partnership with Salesforce - Deluxe Corporation (DLX) announced an expanded agreement with Salesforce (CRM) to accelerate Deluxe's go-to-market strategy and improve customer engagement by getting a 360-degree view of customers across its entire business. In partnership with Salesforce Success Cloud advisory services, Deluxe is consolidating its customer service, direct and indirect sales, digital commerce, analytics and marketing systems onto a single CRM platform. This will offer Deluxe unprecedented insight into its diverse customer base and the ability to cross-sell and up-sell products and services best suited to each customer. As part of this long-term agreement, Deluxe and Salesforce will also collaborate to provide mutual small business customers with innovative product solutions, including Deluxe's growing portfolio of Small Business Solutions and Salesforce Essentials. More details on the partnership will be communicated in the Fall during Deluxe's appearance as a speaker at Salesforce's annual event, Dreamforce, the world's largest software conference.
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GE | Hot Stocks12:03 EDT GE, Flexjet to launch wireless flight data transmission, collection program - Flexjet announced a major upgrade and expansion to its flight data monitoring capabilities. In partnership with GE Aviation, Flexjet's entire US-based fleet will transmit flight data wirelessly and instantly upon touchdown. This initiative will strengthen the company's safety management system and makes Flexjet the only US-based fractional provider to apply this technology fleet-wide. The flight operations quality assurance, quick access recorders and cellular data services were created by GE Aviation, which uses the Industrial Internet to provide business intelligence and actionable insight to continuously improve an airline's overall level of safety. Operators that adopt FOQA are better able to identify and eliminate potential safety hazards in flight operations.
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VWAGY | Hot Stocks12:01 EDT Volkswagen reports June U.S. sales up 10% to 31,725 units - Volkswagen of America reported June sales rose 10% from the prior year to 31,725 units, calling the month Volkswagen of America's "best June since 2013." Reference Link
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ARCW | Hot Stocks11:58 EDT ARC Group to voluntarily delist from Nasdaq - ARC Group Worldwide announced that it has notified The Nasdaq Stock Market of its intent to withdraw its common stock, par value $0.0005 per share, from listing on the Nasdaq Capital Market. On July 11, ten days after notice to Nasdaq, the company intends to file with Nasdaq and the SEC, a Form 25 relating to the delisting of the company's common stock. The delisting will become effective on July 22, the first business day following the lapse of ten days after the filing date of the Form 25. As previously disclosed to the market, on April 18, the company had received notification from the Listing Qualifications Department of Nasdaq that for the previous 30 consecutive business days, the bid price for the company's common stock had closed below the minimum $1.00 per share requirement for continued listing. Absent remediation of the Minimum Bid Requirement within the 180-day grace period granted by Nasdaq, the company's common stock would be delisted from Nasdaq.
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SEEL | Hot Stocks11:02 EDT Seelos Therapeutics receives Notice of Allowance for a U.S. patent for SLS-005 - Seelos Therapeutics announced that they have received a Notice of Allowance from the United States Patent and Trademark Office for Seelos' U.S. Patent Application for SLS-005 for treating Friedreich Ataxia. SLS-005 already has orphan indication for Spinocerebellar Ataxia and Seelos is currently developing SLS-005 for Sanfilippo syndrome followed by the OPMD indication.
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NSANY | Hot Stocks10:59 EDT Nissan reports June U.S. sales down 14.9% to 123,504 units - Nissan Group announced total U.S. sales for June of 123,504 units, a decrease of 14.9% compared to the prior year. Nissan Division sales of 113,665 units were down 15.4% and Infiniti Division sales of 9,839 units were down 8.0%.
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EQT | Hot Stocks10:57 EDT EQT's independent nominees urge shareholders to vote for all 12 nominees - EQT Corporation announced that the independent nominees on both the company's and the Toby Rice Group's slates sent an open letter to shareholders. The letter read in part, "As the independent director nominees supported by both EQT and the Toby Rice Group, we feel it is important to communicate directly to shareholders in advance of the upcoming Annual Meeting. We share the frustration some have expressed regarding the old EQT and the Company's share price performance. It is our belief that EQT's 12 director nominees are best suited to oversee EQT's operations and continue its transformation into a free cash flow leader. If elected, the new EQT Board will be one of the most, if not the most, experienced and diverse boards in the E&P industry; nine of 12 directors will have direct oil and gas industry upstream experience, and nine of 12 will have been elected since 2017...Over the last six months, the EQT team has significantly improved EQT's financial and operating results while reducing costs. The Company has delivered three consecutive quarters of strong performance and is on track to achieve $300M to $400M of adjusted free cash flow in 2019 and at least $3B through 2023. We have been impressed with management's progress in the currently challenging operating environment. While we are pleased with recent results and believe that management has solved the legacy issues of the old EQT, as directors we will demand that the management team build on and accelerate its progress... EQT has been through enormous disruption over the last two years, from the numerous complex transactions to facilitate the spin-off of Equitrans Midstream Corporation to substantial turnover in the C-suite. In seven short months, the new EQT management team has implemented a profound cultural shift across the organization with an emphasis on accountability, collaboration and transparency. We believe this management team's performance over the last three quarters has earned it the chance to show that it can achieve the continued turnaround we seek. Employees are now energized and passionate about the new EQT and committed to doing their part to drive strong results for shareholders. We believe that exposing the Company to further turnover, disruption and execution risk would be counterproductive. However, we are fully cognizant that our role as independent directors is to hold management accountable for the Company's performance. If this management team fails to deliver, we are committed to finding the most highly qualified and experienced candidates for those roles."
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GM | Hot Stocks10:54 EDT General Motors reports end of June inventory up 22,000 units year-over-year - General Motors reports end of June inventory was 809,387 units, up about 22,000 units year over year, reflecting new model launches. GM's average transaction prices rose by $1,575 to a second quarter record of $37,126, compared to an industry average of $33,681, according to J.D. Power PIN estimates. GM's average incentive spending as a percentage of ATP was 12.6%, down from 13.4% in the second quarter of 2018, according to J.D. Power PIN estimates. GM's fleet mix of total sales was 23% during the second quarter. Sales were up 3%, with the majority of deliveries going to Commercial and Government customers, GM said along with its Q2 deliveries report.
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MSEX | Hot Stocks10:48 EDT Middlesex Water announces retirement of COO Richard Risoldi - Middlesex Water Company announced that Richard Risoldi, SVP, operations & COO retired effective July 1, 2019. The company reported several executive leadership changes in October 2018 in connection with its succession plans. The following executives, G. Christian Andreasen, Georgia Simpson and Robert Fullagar have been named VP of the company effective July 1, 2019 and will join the company's Executive Committee. G. Christian Andreasen has been named VP, enterprise engineering. This role will bring the engineering and all related elements of capital planning and execution for all companies in the Middlesex Water Company enterprise under a single management structure. Georgia Simpson has been named VP, information technology. This role reflects the expanded prominence of information technology in the company's strategy, business processes and risk profile.Robert Fullagar has been named VP, operations. This role assumes responsibility for the Production and Distribution functions as well as Wastewater Collection and Treatment functions enterprise-wide.
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GM | Hot Stocks10:48 EDT General Motors reports Q2 U.S. deliveries down 1.5% to 746,659 vehicles - General Motors announced that it delivered 746,659 vehicles in the United States in the second quarter of 2019. Overall, GM deliveries during the second quarter were down 1.5% versus a year ago, which the company said was "in line with third-party estimates for industry sales." GM said: "The company estimates that its retail market share was even with a year ago, with truck and crossover deliveries offsetting lower passenger car sales." The U.S. light-vehicle SAAR for the first half of the year is expected to be a "healthy" 17.0M units, according to GM Chief Economist Elaine Buckberg.
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TM | Hot Stocks10:32 EDT Toyota reports June U.S. sales down 3.5% to 202,352 vehicles - Toyota Motor North America reported June sales of 202,352 vehicles, a decrease of 3.5% on a volume basis and an increase of 0.3% on a daily selling rate, or DSR, basis versus June 2018. Toyota division posted June sales of 179,305 vehicles, down 3.5% on a volume basis and up 0.2% on a DSR basis. Lexus division posted June sales of 23,047 vehicles, down 3.0% on a volume basis and up 0.8% on a DSR basis.
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WNS | Hot Stocks10:15 EDT WNS wins contract with Convex Group - WNS announced its strategic contract win with the newly formed $1.8B capitalized Convex Group Limited, an international specialty reinsurer based in the UK and Bermuda led by Stephen Catlin and Paul Brand. The Convex Group has appointed WNS as its long-term strategic partner to build an integrated "Platform + BPM as-a-service" proposition across industry horizontals. WNS will provide processing support and design, build and implement a best-in-class unique target operating model.
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BAYRY | Hot Stocks10:13 EDT Bayer treatment of glioblastoma multiforme granted orphan status - Bayer's treatment of glioblastoma multiforme was granted orphan status by the FDA, according to a post to the agency's website. Reference Link
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AMGN | Hot Stocks10:12 EDT Amgen treatment of Acute Myeloid Leukemia granted orphan status - Amgen's treatment of Acute Myeloid Leukemia was granted orphan status by the FDA, according to a post to the agency's website. Reference Link
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AVXS | Hot Stocks10:11 EDT AveXis treatment of Amyotrophic Lateral Sclerosis granted orphan status - AveXis' treatment of Amyotrophic Lateral Sclerosis was granted orphan status by the FDA, according to a post to the agency's website. Reference Link
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ZBISF TLRY | Hot Stocks10:10 EDT Zenabis enters supply agreement with Tilray's High Park Holdings - Zenabis Global (ZBISF) announced that its wholly-owned subsidiary, Zenabis has entered into an agreement with High Park Holdings, a wholly-owned subsidiary of Tilray (TLRY), pursuant to which High Park will advance C$30M to Zenabis in return for a supply of dried cannabis from Zenabis. Under the terms of the Supply Agreement, Zenabis will deliver a monthly quantity of dried cannabis to High Park commencing in October 2019. Zenabis expects the prepaid amount to be retired within a year. Zenabis does not expect delivery commitments to High Park to impact its ability to supply existing customers. The wholesale pricing under the Supply Agreement will vary depending on the product type and format High Park elects to order.
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CARS | Hot Stocks10:00 EDT Cars.com rises 5.3% - Cars.com is up 5.3%, or $1.04 to $20.91.
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JNUG | Hot Stocks10:00 EDT Direxion Daily Jr Gld Mnrs Bull 3X Shrs rises 6.5% - Direxion Daily Jr Gld Mnrs Bull 3X Shrs is up 6.5%, or $3.33 to $54.93.
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MAXR | Hot Stocks10:00 EDT Maxar Technologies rises 6.8% - Maxar Technologies is up 6.8%, or 54c to $8.46.
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IRS | Hot Stocks09:47 EDT Irsa Inversiones y Representaciones SA falls -7.5% - Irsa Inversiones y Representaciones SA is down -7.5%, or -74c to $9.15.
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AYI | Hot Stocks09:47 EDT Acuity Brands falls -9.7% - Acuity Brands is down -9.7%, or -$13.64 to $127.38.
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GBX | Hot Stocks09:47 EDT Greenbrier falls -11.8% - Greenbrier is down -11.8%, or -$3.65 to $27.20.
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SRC | Hot Stocks09:47 EDT Spirit Realty rises 4.2% - Spirit Realty is up 4.2%, or $1.78 to $44.13.
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CARS | Hot Stocks09:47 EDT Cars.com rises 4.6% - Cars.com is up 4.6%, or 92c to $20.78.
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JNUG | Hot Stocks09:47 EDT Direxion Daily Jr Gld Mnrs Bull 3X Shrs rises 6.2% - Direxion Daily Jr Gld Mnrs Bull 3X Shrs is up 6.2%, or $3.23 to $54.83.
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OSW | Hot Stocks09:40 EDT OneSpaWorld, P&O Cruises sign new spa operations agreement - OneSpaWorld announced it has extended its 16-year relationship with P&O Cruises. The agreement with P&O Cruises extends OneSpaWorld's service on the seven vessels it currently operates for the next five years and adds the exclusive right to operate the spa facilities on board and execute a suite of premium health, beauty, wellness and fitness services and products. Under the new agreement, OneSpaWorld will operate Iona, the largest ship built for the British market which sets sail on its inaugural voyage in May 2020.
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WHLR | Hot Stocks09:38 EDT Wheeler REIT reduces KeyBank line of credit carried balance - Wheeler Real Estate Investment Trust (WHLR) announced that it has made further progress in reducing the balance on the Company's KeyBank line of credit. The Company obtained a 10-year fixed rate term loan for $16.5M at an interest rate of 4.28%, which is approximately 62 bps below the current interest rate on the Company's KeyBank line of credit as of June 28, 2019. The new loan is secured by the 297,950 square-foot, Kroger-anchored shopping center, The Village at Martinsville located in Martinsville, Virginia, which was previously encumbered on the Company's KeyBank line of credit. As a result, the Company has effectively extended and better laddered its debt maturities while reducing its KeyBank line of credit down to $34.3M.
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FB | Hot Stocks09:36 EDT Facebook says making efforts to address 'sensational' health claims - Travis Yeh, Product Manager at Facebook, said in a statement that "People come together on Facebook to talk about, advocate for, and connect around things like nutrition, fitness and health issues. But in order to help people get accurate health information and the support they need, it's imperative that we minimize health content that is sensational or misleading... We know that people don't like posts that are sensational or spammy, and misleading health content is particularly bad for our community. So, last month we made two ranking updates to reduce (1) posts with exaggerated or sensational health claims and (2) posts attempting to sell products or services based on health-related claims. For the first update, we consider if a post about health exaggerates or misleads - for example, making a sensational claim about a miracle cure. For the second update, we consider if a post promotes a product or service based on a health-related claim - for example, promoting a medication or pill claiming to help you lose weight. We'll continue working to minimize low-quality health content on Facebook. We anticipate that most Pages won't see any significant changes to their distribution in News Feed as a result of this update." Reference Link
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FB | Hot Stocks09:36 EDT Facebook fined EUR2M for violating German transparency law - Germany's Federal Office of Justice has issued a fine notice against Facebook Ireland Limited, as the company violated the provisions of the Network Enforcement Act when publishing the Transparency Report for the first half of 2018 . In the fine, the BfJ complains in particular that in the published report, the number of complaints received about illegal content is incomplete. This creates a distorted picture in the public about the extent of illegal content and the way the social network deals with them. The BfJ has imposed a fine of two million euros.
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IZEA | Hot Stocks09:32 EDT Izea announces $3.5M share repurchase program - IZEA Worldwide announced that its Board of Directors has authorized a share repurchase program under which the company may repurchase up to $3.5M worth of its common stock from time to time through December 31, 2020, subject to market conditions. A special committee consisting of independent Board members has been formed to authorize each individual buyback. "IZEA's Board of Directors and management team believe that the market currently undervalues our core business and technology assets," commented Ted Murphy, Chairman and CEO of IZEA. "The share repurchase program provides us with flexibility to repurchase stock over time if market conditions persist."
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FCAU | Hot Stocks09:31 EDT FCA US reports June sales up 2% to 206,083 vehicles - FCA US LLC reported its "best June in 14 years" as total sales climbed 2% to 206,083 vehicles, driven by Ram pickup trucks which had its highest month of sales since the brand was detached from Dodge and launched as a standalone division in 2009. Sales of Ram pickups for June rose 56% to 68,098 vehicles. For the quarter, Ram pickup truck sales finished at 179,454 vehicles. Overall, June retail sales for FCA US hit the highest level in 18 years with 156,588 vehicles sold. Fleet sales totaled 49,495 vehicles and accounted for 24% of total sales.
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IZEA | Hot Stocks09:31 EDT IZEA board of directors authorizes $3.5M share repurchase program - IZEA Worldwide announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to $3.5M worth of its common stock from time to time through December 31, 2020, subject to market conditions. A special committee consisting of independent Board members has been formed to authorize each individual buyback.
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KERN | Hot Stocks09:28 EDT MJ Freeway announces new clients in Europe, opens Colombian office - MJ Freeway, a wholly owned subsidiary of Akerna, expands further into Europe by serving clients in two additional countries, Italy and Macedonia. Macedonia is one of the few countries in the world to approve medical cannabis for cultivation and export. Italy has significantly increased its hemp production to serve its growing domestic market for industrial products and infusing in cosmetics and other consumer goods. As a result of the expansion into Italy and Macedonia, MJ Freeway has increased its footprint to five European countries including Spain, Switzerland and Denmark. The new clients are cultivation operators who have chosen to run their businesses with MJ Platform, an enterprise resource planning compliance and inventory management technology platform. MJ Freeway has recently opened a Medellin, Colombia office to serve its growing footprint in South America. Clever Leaves, a MJ Freeway client, is the first Colombian company authorized to export cannabis into Canada. In addition to Clever Leaves, MJ Freeway's clients in Colombia are enterprise-scale, multi-national organizations poised to capitalize on the growing global market with approved export licenses.
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APDN | Hot Stocks09:28 EDT Applied DNA Sciences signs agreement with Montblanc-Simplo - Applied DNA Sciences announced the signing of a five-year Agreement with Germany-based Montblanc-Simplo for the provision of unique SigNature DNA marks for individual Montblanc clients. This Agreement culminates a rigorous 18-month product development and qualification program between Applied DNA and Montblanc for SigNature DNA with Beacon in a range of specialist inks for use in the high-end range of Montblanc writing instruments. The SigNature DNA molecular tag provides the forensic evidence for traceability; Beacon is a covert screening feature of the SigNature DNA molecular tag, fluorescing only with complementary decryptant. Under the terms of the Agreement, Applied DNA will supply a minimum number of its Signature DNA marks combined with Beacon for use by Montblanc clients on a 2-year exclusive basis.
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GNBT | Hot Stocks09:25 EDT Generex engages Donohoe Advisory to assist with uplisting - Generex Biotechnology announced that Generex has engaged Donohoe Advisory Associates in connection with its efforts to seek a listing for its common shares on a national securities exchange.
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FTXP | Hot Stocks09:24 EDT Foothills Exploration announces plans to acquire natural gas wells in Montana - Foothills Exploration announced that it plans to acquire natural gas wells and acreage for production and development in Stillwater and Golden Valley counties, Montana. The transaction, which represents Foothills' second acquisition in Montana, is expected to close in the third quarter of 2019, subject to customary closing conditions, and governmental approvals. On June 26, the Company entered into a letter agreement with an unrelated third-party to acquire approximately 5,769 acres and 12 shut-in natural gas wells. Additional assets consist of associated pipelines, gathering systems, compression and processing facilities, and related yards and equipment. The Company intends to bring online the 12 shut-in wells to generate revenue in the near term and increase reserves. The Company's technical team will continue to assess the optimum in-field development program and advise on how to best exploit behind pipe potential. The Company will continue to pursue natural gas weighted assets, as a principal investment theme. Foothills believes that the global demand for natural gas will out strip demand in the future, as more countries move away from coal for power generation.
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GSK PFE | Hot Stocks09:23 EDT Glaxo, Pfizer JV receives conditional approval from South Africa regulator - The planned joint venture between GlaxoSmithKline (GSK) and Pfizer (PFE) has received conditional approval from South Africa's Competition Commission, the regulator said in a statement. Although the deal is not likely to reduce competition, it said the deal will impact local manufacturers of pharmaceuticals for Pfizer. To address those concerns, the regulator suggested the companies continue using Spechpharm Holdings for a period of three years.
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IVITF | Hot Stocks09:22 EDT Invictus says AB Ventures receives approval to proceed with construction - INVICTUS MD STRATEGIES CORP reporst that AB Ventures, a company which Invictus is a 25% shareholder, is a late stage applicant to obtain a cultivation license under the Cannabis Act. AB Ventures received the approval to proceed to construction and will submit its evidence package upon completion of such construction. Notification of review was granted on May 10, 2019 immediately following Health Canada's notice of change to application requirements and procedures. Mr. Ripa, COO and a 75% shareholder of AB Ventures, advises, "AB Ventures has completed all conditions set out by the municipality to begin construction on our new 22,000 sq. ft. facility located on 100 acres of rural property only minutes from the recently completed AB Laboratories Inc.'s location previously announced on June 26, 2019. AB Laboratories Inc. is a company that is a 50% owned subsidiary of Invictus. AB Ventures has started with infrastructure upgrades and will begin building construction immediately thereafter. The project timeline has been longer than expected, but we are excited that approval has been received and a start date is in the near future. It is our intention to complete infrastructure for outdoor production on the first 25 acres this summer. AB Ventures is expected produce starting materials in early 2020 with our first outdoor crop expected to be planted in late spring 2020."
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BSET | Hot Stocks09:17 EDT Bassett Furniture CEO says company is 'mobilized on multiple fronts' - "In reaction to the challenging big ticket retail environment, we are mobilized on multiple fronts," said CEO Rob Spilman. "There is no doubt that more aggressive use of discounts and credit promotions increasingly characterize today's furniture retail space. We successfully employed our variation of these tactics over the three week Memorial Day promotion. Going forward, we will use a mix of newly crafted promotional messages and consumer financing designed to more overtly emphasize the value of our products. In concert, we have strengthened our long standing '30 Days in the Home' on custom furniture with the addition of a '14 Days in the Home' message on a series of wood and upholstery items. Furthermore, as we mentioned after the first quarter, we are expanding our opening price point merchandise assortment to expand our reach with value conscious consumers. Coupled with our digital engagement strategy, we are encouraged by the page views that the new value oriented merchandise has generated. Again, although we remain committed to our design makeover and custom furniture strategy, we have concluded that a layer of opening price point merchandise with a compelling delivery promise will bring a new customer to Bassett. We believe that our manufacturing efficiencies and our supply chain will allow us to pursue these tactics without sacrificing our wholesale and retail gross margins. Over 75% of Bassett branded products shipped from an American factory in the quarter and we will leverage our ability to manufacture and deliver our products with heightened speed and value."
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BSET | Hot Stocks09:16 EDT Bassett Furniture reports Q2 comparable store sales down 14.8% - "Of course, the big story of the quarter and the year to date is the loss generated by our corporate retail segment," said CEO Spilman. "The swing from retail profitability to a loss is being addressed, not only by the new promotional and merchandising strategies, but also by thoroughly examining our cost structure. Our bottom line will also improve through a reduction of store startup expenses resulting from the lack of new store openings that are currently in the pipeline. Specifically, our Princeton, NJ location opening in the 4th quarter is the only remaining new store this year. Our Sarasota, Florida store opened in April; the only new store in the period following the four new corporate stores and the one repositioned location that debuted in the first quarter. Pre- and post-opening store expenses to date total $2.0 million this year. We anticipate that the forthcoming rate of this expense will dramatically decline in the next few quarters. Also noteworthy is our methodical pursuit of the formula to digitally engage consumers and drive them to our website and our stores. We are encouraged by recent upticks in web traffic and in the number of first-time users that are engaging with our brand. The cost of our digital strategy is being weighed against our television and direct mail expenditures, both of which have declined as a result of increased digital investment. Third-party consumer finance costs have increased as periodic credit promotions have been effective in closing larger ticket sales and are believed to be a mechanism that we should employ more frequently in the future."
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WASH | Hot Stocks09:10 EDT Washington Trust provides $11.8M to Waterford Parc for apartment complex - Washington Trust's Commercial Real Estate Group recently provided $11.8M to Waterford Parc for the construction of a 72-unit apartment complex in Waterford, Connecticut. Located just off Waterford's retail corridor of Route 1, the property is a low-rise development containing three buildings, each of which is three stories in height. The apartments include 36 one-bedroom units and 36 two-bedroom units, each ranging in size from 845 to 1,140 square-feet. The property also features a large clubhouse, fitness center, recreation area, and in-unit washers and dryers.
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RTTR | Hot Stocks09:09 EDT Ritter Pharmaceuticals announces last patient visit in Phase 3 trial of RP-G28 - Ritter Pharmaceuticals announced that the last patient has completed their final visit in the Company's first pivotal Phase 3 clinical trial of RP-G28 for the potential treatment of lactose intolerance, a study known as "Liberatus". The 557-subject clinical trial began enrollment in late June 2018 and completed on-time in just over a year. Trial finalization leading to data lock and top-line data readout has now begun. Top-line data readout remains on track for early 4Q19. As recently reported, the Company has achieved alignment with the Food and Drug Administration over key elements of the Liberatus statistical analysis plan including the primary endpoint, secondary endpoints and other critical components.
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ACNB FCBI | Hot Stocks09:07 EDT ACNB Corp to acquire Frederick County Bancorp for $38.20 per share - ACNB Corporation (ACNB) announced the execution of a definitive agreement whereby Frederick County Bancorp (FCBI), headquartered in Frederick, MD, will be merged with and into an ACNB acquisition subsidiary and, as soon as possible thereafter, Frederick County Bank, FCBI's wholly-owned subsidiary, will merge with and into ACNB Bank. Frederick County Bank operates five bank center locations in the Frederick, MD, area. Established in 2001, Frederick County Bank is a full-service community bank serving businesses, individuals, and community organizations. As of March 31, 2019, FCBI had total assets of $442.4M, total deposits of $372.3M, and total loans of $341.7M. With the consummation of the acquisition, ACNB Bank will operate former Frederick County Bank locations in the Frederick County market as "FCB Bank, A Division of ACNB Bank". One director from FCBI will join the boards of directors of ACNB and ACNB Bank, respectively. In addition, the other directors of FCBI will have the opportunity to serve on a regional advisory board to be established for the Frederick County market. Pursuant to the terms of the definitive agreement, FCBI shareholders will receive 0.9900 share of ACNB common stock for each share of FCBI common stock that they own as of the closing date. Based on the market close on July 1, 2019, the transaction is valued at $60M or $38.20 per share. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes. Based on the financial results as of March 31, 2019, the combined company would have pro forma total assets of $2.2B, total deposits of $1.8B, and total loans of $1.7B. Once the acquisition is complete, ACNB will have 34 community banking offices in Pennsylvania and Maryland---offering a full range of integrated financial services including banking, trust, retail brokerage, and insurance. Further, as this is a market expansion transaction, ACNB plans to retain many of FCBI's employees, specifically in the areas directly serving customers such as community banking and lending. The transaction has been unanimously approved by the boards of directors of both companies. It is subject to FCBI shareholder approval, ACNB shareholder approval, regulatory approvals, and other customary closing conditions. Currently, the transaction is expected to close in the fourth quarter of 2019 or the first quarter of 2020, after all such conditions are met.
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DAL | Hot Stocks09:06 EDT Delta Air Lines reports June traffic up 6.2%, capacity up 4% - Load factor was 90.4% vs. 88.5% a year ago.
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UNH | Hot Stocks09:04 EDT UnitedHealth announces Atlanta HBCU partnership, $8.25M investment - UnitedHealth Group and the Atlanta University Center Consortium, or AUCC, "the oldest and largest consortium of historically black colleges and universities," or HBCUs, are partnering on a new initiative to prepare students to meet the growing demand in the marketplace for data analytics experts. The five-year, $8.25M investment by UnitedHealth Group is part of an ambitious collaboration with AUCC and its membership: Clark Atlanta University, Morehouse College, Morehouse School of Medicine and Spelman College. The investment will fund the launch of the AUCC Data Science Initiative, which will offer technical classes for students who want to specialize in data science or learn data analysis to give them a competitive edge when they look for jobs in their field of study. "The partnership comes as the number of job openings in the United States for data professionals is projected to reach more than 2.7M by 2020, according to a national study."
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AAWW | Hot Stocks09:04 EDT Atlas Air announces retirement of president, CEO William Flynn - Atlas Air Worldwide Holdings announced that president and CEO William Flynn will retire from the company effective January 1, 2020, after a successful 13-year tenure, and become chairman of the Board on that date. The board has appointed John Dietrich, current EVP and COO, as Flynn's successor. Dietrich will become president and COO effective immediately, and he will retain the role as president when he assumes the role of CEO on January 1, 2020. Additionally, Robert Agnew, current chairman of the Board, will become the Board's Lead Independent Director, effective January 1, 2020. The transitions and appointments are the culmination of a comprehensive succession process led by the board to ensure strong leadership continuity as the company continues to advance its strategic growth agenda.
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HEI | Hot Stocks09:03 EDT Heico subsidiary acquires assets of Bretigny-sur-Orge - HEICO announced that its Buc, France-based 3D PLUS subsidiary acquired substantially all of the assets and business of Bretigny-sur-Orge, France-based BERNIER, SAS in an all cash transaction. 3D PLUS is part of HEICO's Electronic Technologies Group. No further financial details were disclosed, but HEICO expects the acquisition to be accretive to its earnings within the first 12 months after closing. The business will continue to operate under the BERNIER name and in its current engineering and production facility located in Bretigny-sur-Orge. Further, BERNIER, 3D PLUS and HEICO stated that they do not expect any staff turnover from among BERNIER's approximately 40 talented Team Members to result from the acquisition. 3D PLUS and HEICO were advised in the transaction by Thibaut de Monclin of investment banking firm Oaklins France and the law firm Archers, both in Paris.
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AMRN... | Hot Stocks09:03 EDT Fly Intel: Pre-market Movers - HIGHER: Amarin (AMRN), up 8% after increasing its FY19 revenue view... Dova Pharmaceuticals (DOVA), up 6% after Evercore ISI analyst Umer Raffat upgraded the stock to Outperform from In Line... Reebonz (RBZ), up 16% after expanding its recently launched Sell to Reebonz service to five new markets... Cars.com (CARS), up 3% after Citi analyst Nicholas Jones upgraded shares to Buy from Neutral, stating that the stock's current valuation is low "even if we were to exclude the probability for an acquisition." UP AFTER EARNINGS: Simply Good Foods (SMPL), up 4%. DOWN AFTER EARNINGS: Greenbrier (GBX), down 9%. ALSO LOWER: BlackLine (BL), down 8% after Goldman Sachs analyst Christopher Merwin double downgraded the stock to Sell from Buy and lowered his price target for the shares to $41 from $57. Despite being the leading provider of financial close accounting solutions in a $14B total addressable market, billings growth for Blackline has decelerated to the high-teens for the past three quarters, Merwin tells investors in a research note... Roku (ROKU), down 3% after RBC Capital analyst Mark Mahaney downgraded shares to Sector Perform from Outperform with an unchanged price target of $90. The analyst cites valuation for the downgrade with the shares up 200% year-to-date.
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DASTY | Hot Stocks09:01 EDT Dassault Aviation acquires business aviation activities from RUAG - Dassault Aviation and RUAG announced the acquisition by Dassault Aviation of the maintenance and FBO activities of RUAG in Geneva and Lugano. "The acquisition of the business aviation activities of RUAG is part of our strategy to develop a worldwide MRO network of excellence and will allow Dassault Aviation to reinforce its footprint in Switzerland. RUAG has been a long-time partner of Dassault Aviation as an authorized Falcon service center. This acquisition will consolidate our network in Geneva and Lugano. Both Geneva and Lugano FBO activities will complement the full range of services offered by Dassault Aviation in Switzerland", declared Eric Trappier, Chairman and CEO of Dassault Aviation.
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BFRA | Hot Stocks09:00 EDT Biofrontera recommends shareholders not accept Balaton, DEPLHI offer - Biofrontera and its Supervisory Board yesterday published a joint statement on the partial acquisition offer of Deutsche Balaton Biotech AG and DEPLHI Unternehmensberatung Aktiengesellschaft. The Management Board and the Supervisory Board recommend to the shareholders of not to accept the partial acquisition offer of Deutsche Balaton Biotech AG and DEPLHI Unternehmensberatung Aktiengesellschaft. "In the opinion of Biofrontera AG's Management Board and Supervisory Board, the requests from Deutsche Balaton AG, also part of the Deutsche Balaton Group, for additions to the Annual General Meeting on July 10, 2019 indicate the goal of filling at least three Supervisory Board mandates with less experienced persons, close to Balaton. Such an accumulation of non-independent persons in a supervisory board would contradict the rules of corporate governance. Furthermore, it is not evident that the persons proposed by the Deutsche Balaton Group possess the necessary expertise and competences to be able to work on the Supervisory Board of a pharmaceutical company. The Management Board and Supervisory Board of Biofrontera AG cannot see that this goal and further intentions are supported by a comprehensible operative strategy in the interest of Biofrontera AG and the majority of its shareholders," the company said yesterday afternoon in a statement.
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BFRA | Hot Stocks08:57 EDT Deutsche Balaton, DELPHI increase bid for Biofrontera shares to EUR 8.00 - Deutsche Balaton Biotech AG and DELPHI Unternehmensberatung announced yesterday that they decided to increase their offer price for the currently ongoing voluntary public partial purchase offer for up to 500,000 shares of Biofrontera AG. The bidders will now offer Biofrontera shareholders a cash consideration of EUR 8.00 per Biofrontera share. "The increase in the offer takes account of the recent rise in stock market price. The increased consideration now not only exceeds the historical stock exchange prices from the time before the decision of the bidders to submit the partial purchase offer, but also the current stock exchange price. In addition, the increased consideration also exceeds the consideration offered in the competing offer of Maruho Deutschland GmbH by approximately 11%," they explained.
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ORBT | Hot Stocks08:56 EDT Orbit International reports Q2 consolidated bookings in excess of $8.5M - Orbit International announced that consolidated bookings for both its Electronics Group and Power Group exceeded $8,500,000 for the second quarter of 2019. Bookings for the second quarter were highlighted by the previously announced order received by our OPG in April 2019 for approximately $4,100,000 for production of Common Aircraft Armament Test Set. This order was followed by another contract for CAATS for approximately $400,000 that was received in June 2019. Other awards received by the OPG during the quarter were for power supplies utilizing its VPX technology, commercial power supplies, including another $220,000 order for a power supply used in oil and gas exploration and a $223,000 order for a COTS power supply used in a nuclear power plant control system. Bookings for the OEG during the quarter include a follow-on award recently received for a switch panel totaling in excess of $950,000. Other awards for the OEG received during the quarter were for displays, keyboards and communication panels. Deliveries for the all awards received during the second quarter are expected to commence in the third quarter of 2019 and continue through the third quarter of 2020. CEO Mitchell Binder commented, "We are encouraged that this strong booking quarter reflects firm bookings from both our OEG and OPG. These orders will strengthen our delivery schedules for the end of 2019 and for the first three quarters of 2020. Our OEG has maintained its momentum of strong bookings in the last several months and is expecting other follow-on awards in the second half of 2019."
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NKE | Hot Stocks08:48 EDT Arizona Governor withdraws incentives to Nike after Betsy Ross shoe cancelled - In a series of tweets, Arizona Governor Doug Ducey stated: "Today was supposed to be a good day in Arizona, with the announcement of a major @Nike investment in Goodyear, AZ...Instead of celebrating American history the week of our nation's independence, Nike has apparently decided that Betsy Ross is unworthy, and has bowed to the current onslaught of political correctness and historical revisionism. It is a shameful retreat for the company. American businesses should be proud of our country's history, not abandoning it. Nike has made its decision, and now we're making ours. I've ordered the Arizona Commerce Authority to withdraw all financial incentive dollars under their discretion that the State was providing for the company to locate here." Reference Link
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HZO | Hot Stocks08:48 EDT MarineMax to acquire Fraser Yachts Group - MarineMax announced that it has entered into an agreement for the acquisition of the Fraser Yachts Group from the Italian-based Azimut/Benetti Group. The transaction is expected to be accretive in its first full year. The acquisition is subject to the customary completion of certain legal requirements in Europe and is currently expected to be completed in stages over the next few weeks.
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AYI | Hot Stocks08:47 EDT Acuity Brands CEO says focus for 2020 is 'to garner top-line growth' - CEO Vernon Nagel commented, "Our focus for fiscal 2020 and beyond is to garner top-line growth driven primarily by outperforming the growth rates of the markets we serve through execution of our previously announced growth strategies, improvement in the mix of products and solutions sold as we execute our tiered solutions strategy, and leveraging our fixed cost infrastructure to achieve targeted incremental margins to improve our overall profitability. We continue to believe the lighting and lighting-related industry as well as building management systems have the potential to experience solid growth over the next decade, particularly as owners and users of lighting equipment and buildings continue to see the potential to transform those investments into strategic assets by deploying our distinctive solutions. We believe we are uniquely positioned to fully participate in this exciting industry."
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AYI | Hot Stocks08:44 EDT Acuity Brands CEO says 'cautiously optimistic' about overall market conditions - CEO Vernon Nagel commented, "We remain cautiously optimistic about overall market conditions for the remainder of calendar year 2019 and do not believe that the demand outlook has meaningfully changed from our outlook provided last quarter. Third-party forecasts and several leading indicators continue to suggest that the North American lighting market, our primary market, should grow in the low-single digit range in calendar 2019, although some leading indicators of future market demand, such as the Architectural Billings Index and the Dodge Momentum Index, have recently softened. Our wide and varied base of customers generally remains positive about calendar year 2019 growth prospects as many customers continue to have healthy backlogs, though they continue to be concerned about the timing of releases and the potential impact that tariffs and higher prices may have on overall demand."
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BURG | Hot Stocks08:39 EDT Chanticleer Holdings completes Rights Offering for gross proceeds of $6.1M - Chanticleer Holdings announced that it has closed its previously announced Rights Offering, which expired on June 28, 2019. Chanticleer received subscriptions for an aggregate of 6,084,853 shares of common stock through the exercise by its record holders of basic and over subscription rights at a price of $1.00 per share. Gross proceeds to Chanticleer of approximately $6,084,853.00 include $3,075,000.00 subscribed through the reduction of outstanding debt obligations. Chanticleer intends to use the net proceeds of the Rights Offering for general corporate purposes and is in discussions with the target to restructure the acquisition proposal. After the Rights Offering, Chanticleer will have an aggregate of 10,023,876 shares of common stock issued and outstanding. Investors who participated in the Rights Offering should expect to see shares in their account within the next three business days.
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FPAY | Hot Stocks08:35 EDT FlexShopper regains Nasdaq listing compliance - FlexShopper announced it has regained compliance with the minimum $1.00 per share bid price requirement for continued listing, and further, that the Company complies with all other applicable standards for continued listing of its securities on the Nasdaq Stock Market. The company's shares will continue to be traded on The Nasdaq Global Market under the symbol FPAY.
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AEY | Hot Stocks08:34 EDT ADDvantage closes sale of cable TV segment for $10.3M - ADDvantage Technologies announced the closing of the sale of its Cable TV segment on July 1, 2019 to Leveling 8, which purchased all of the outstanding shares and limited liability company membership interests of the Company's Cable TV segment for a total purchase price of $10.3M. subject to certain post-closing adjustments. Leveling 8 is a company owned 100% by David E. Chymiak, the Company's CTO, president of Tulsat, substantial ADDvantage shareholder and a member of its Board of Directors. The purchase price consists of $3.9M of cash, less $2.1M of cash previously received from the sales of the ComTech facility in March 2019 and the NCS facility in June 2019, and a $6.4M promissory note bearing interest at 6% per annum. The note will be paid over five years and is personally guaranteed by David E. Chymiak. As previously announced in its press release dated March 29, 2019, the Company closed the sale of its Warminster, Pennsylvania facility, which houses the Company's NCS Industries business within the Cable TV segment, to David Chymiak, LLC, a company controlled by David Chymiak, on June 14, 2019 for a purchase price of $0.7M. This amount was deducted from the final proceeds received from the sale of the Cable TV Segment. The sale proceeds will allow ADDvantage Technologies to commit more capital and resources to its expansion strategy in the Wireless Infrastructure Services and Telco segments.
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VVV | Hot Stocks08:34 EDT Valvoline acquires two quick-lube locations in Philadelphia market - Valvoline announced its franchisee, Galena Companies, has acquired two quick-lube locations in the Philadelphia metro area that are now operating as Valvoline Instant Oil Change service centers.
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CRTO | Hot Stocks08:31 EDT Criteo enters partnership with Custora - Custor announced its strategic partnership with Criteo. The partnership will leverage Custora's leading platform to acquire and retain customers with Criteo's world-class capabilities to deliver real-time, personalized dynamic ads.
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SMIT | Hot Stocks08:30 EDT Schmitt Industries adopts stockholder rights plan - Schmitt Industries announced that the Company's Board of Directors has adopted a stockholder rights plan in an effort to protect its net operating loss carryforwards under Section 382 of the Internal Revenue Code. As of May 31, 2018, Schmitt had federal and state NOLs of approximately $4.2M and $4.7M, respectively, which could be used in certain circumstances to offset Schmitt's future taxable income or otherwise payable taxes and therefore reduce its federal and state income tax liabilities. Schmitt's plan is similar to plans adopted by numerous other public companies with NOLs. Schmitt's ability to use NOLs would be limited in the event of an "ownership change" under Section 382 of the Internal Revenue Code and related U.S. Treasury regulations. In general, an ownership change would occur if Schmitt's stockholders who own, or are deemed to own, 5% or more of Schmitt's common stock, increase their collective ownership in Schmitt by more than 50% over a rolling three-year period. The stockholder rights plan is intended to reduce the likelihood of an unintended ownership change occurring through the buying of Schmitt common stock and is not meant to be an anti-takeover measure. As part of the plan, on July 1, 2019, Schmitt's Board declared a dividend of one preferred-share-purchase-right for each share of Schmitt common stock outstanding as of July 19, 2019. Effective as of July 1, 2019, if any person or group acquires 4.9% or more of the outstanding shares of Schmitt common stock, or if a person or group that already owns 4.9% or more of Schmitt common stock acquires additional shares representing 0.5% or more of the outstanding shares of Schmitt common stock, then, subject to certain exceptions, it would be a triggering event under the plan. The rights would then separate from the Schmitt common stock and would be adjusted to become exercisable to purchase shares of Schmitt common stock having a market value equal to twice the exercise price, resulting in significant dilution in the ownership interest of the acquiring person or group. The rights issued under the plan will expire on July 1, 2022. The rights may also expire on an earlier date if certain events occur.
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EROS | Hot Stocks08:24 EDT Eros International reports outstanding interest payments of EIML were paid - Eros International offered the following update: The company reports that outstanding interest payments of the company's Indian operating subsidiary, EIML, that caused a recent ratings downgrade by CARE have been paid by EIML. The company is working with CARE in an attempt to restore its previous investment grade rating, with the full support of its existing banking consortium. In addition, the company reiterates that the recent withdrawal of its Moody's rating was at the company's request given that it does not have any outstanding public institutional bonds.
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NDAQ | Hot Stocks08:22 EDT Nasdaq reports 97 IPOs, seven exchange transfers in 1H19 - Nasdaq announced that in the first half of 2019 it welcomed 97 initial public offerings, raising a total of $17.7B. With an 80% win rate in the U.S. market, Nasdaq has extended its leadership to 22 consecutive quarters. In addition to the IPOs, seven companies switched from the NYSE to join Nasdaq. As the 2019 wave of IPOs continues, Nasdaq won 88% of venture capital-backed deals including Lyft,raised $2.34B, Zoom Video Communications, raised $751M, CrowdStrike Holdings, raised $612M, and Luckin Coffee, raised $561M. Nasdaq leads the IPO market with several top IPOs by proceeds raised across all sectors in the first half of 2019, notably Tradeweb Markets, raised $1.08B, in the financials, Rattler Midstream LP, raised $665M, in energy and Change Healthcare, raised $558, in healthcare.
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BCLI | Hot Stocks08:19 EDT BrainStorm initiates third clinical site for Phase 2 progressive MS study - BrainStorm Cell Therapeutics announced that the Company has contracted with the Keck School of Medicine of The University of Southern California and its academic medical center, Keck Medicine of USC as the third clinical study site for the Company's Phase 2 open-label, multicenter study of repeated intrathecal administration of autologous MSC-NTF cells in participants with progressive Multiple Sclerosis. The study will be directed at USC by Daniel Pelletier, MD, Professor of Neurology, Eric and Peggy Lieber Chair in Neurology, Vice Chair, Vice Chair, Clinical Research, Department of Neurology; and Division Chief, Neuro-Immunology and USC Multiple Sclerosis Center.
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AQMS | Hot Stocks08:18 EDT Aqua Metals announces fourth consecutive month of 'record' ingot production - Aqua Metals announced that its operations team has achieved record production of ultra-pure AquaRefined lead for a fourth consecutive month in June 2019. Aqua Metals produced approximately 312,000 pounds of AquaRefined lead in June, a 56% increase over the 200,000 pounds produced in May. For the second quarter ended June 30, 2019, total production of AquaRefined lead was 652,000 pounds. "We are continuing to optimize the newly-installed Phase One equipment which has allowed for increased concentrate production and contributed to the steady rise in production throughout the quarter and the record number of finished, AquaRefined lead ingots in June," stated CEO Steve Cotton. "We will continue to ramp our production by increasing the uptime of the first set of modules while we continue to prepare and commission modules five through eight."
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SUNW | Hot Stocks08:17 EDT Sunworks to construct 416 kW solar project for Avenales Cattle Company - Sunworks announced a new 416 kW solar power construction project for Avenales Cattle Company, located in Shandon, California. Construction of the new $800,000, 416kW ground-mount system project is expected to commence in the fourth quarter this year.
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CDNA | Hot Stocks08:16 EDT CareDx appoints Grace Colon to board of directors - CareDx announced that Grace Colon, Ph.D. has joined CareDx's Board of Directors. Colon has served as President, CEO and Director of InCarda Therapeutics.
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CALA PFE | Hot Stocks08:14 EDT Calithera initiates Phase 1/2 trial of telaglenastat with Pfizer's palbociclib - Calithera Biosciences (CALA) announced treatment of the first patient in a Phase 1/2 open-label clinical trial of the glutaminase inhibitor telaglenastat in combination with Pfizer's (PFE) CDK 4/6 inhibitor palbociclib, also known as Ibrance. The study will evaluate the safety and anti-tumor activity of telaglenastat plus palbociclib in patients with KRAS-mutated colorectal cancer and KRAS-mutated non-small cell lung cancer. Telaglenastat is designed to block glutamine consumption in tumor cells. Genetic alterations, such as mutations in KRAS, can cause cancer cells to increase metabolism of glutamine. In preclinical studies with KRAS-mutated cancer models, telaglenastat showed synergistic antitumor effects when used in combination with CDK4/6 inhibitors, such as palbociclib, enhancing cell cycle arrest and blocking cancer cell proliferation. The Phase 1/2 clinical trial will evaluate the safety and anti-tumor activity of the telaglenastat plus palbociclib combination in patients with locally advanced/metastatic KRAS-mutated CRC and KRAS-mutated NSCLC that are refractory or intolerant to standard therapies.
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ITCI... | Hot Stocks08:12 EDT Intra-Cellular appoints Karen Patruno Sheehy as CCO - Intra-Cellular Therapies (ITCI) announced the appointment of Karen Patruno Sheehy, Esq. as SVP, chief compliance officer who will report directly to Sharon Mates, Ph.D., CEO and Chairman and also to the Company's Board of Directors. In prior roles, Karen led compliance functions at Mallinckrodt (MNK) as SVP, chief compliance officer and at Sanofi (SNY) as ViP, Head, North America Compliance. In both roles, she reported to the CEO and the respective company boards.
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SONM | Hot Stocks08:11 EDT Sonim added to Russell 3000 Index - Sonim was added to the broad-market Russell 3000 Index at the conclusion of the annual reconstitution of Russell indexes effective after the U.S. market opened on July 1.
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SAIC KKR | Hot Stocks08:10 EDT SAIC to repurchase $100M of common stock from KKR affiliates - Science Applications International (SAIC) announced that it has signed a definitive agreement to repurchase $100M of common stock from funds managed by affiliates of KKR & Co.(KKR) at a price of $85.58 per share, representing a 0.5% discount from the closing price on July 1. The repurchase is expected to be EPS accretive to shareholders, reduces the amount of stock held by funds affiliated with KKR to below 5%, and accelerates share repurchase activity in FY20. The repurchase represents 2.0 percent of the company's shares outstanding and is being made under SAIC's existing share repurchase program. The company intends to finance the share repurchase through the use of available cash and incremental borrowings under its existing revolving credit facility. The share repurchase is expected to close on July 2 subject to customary conditions.
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FB | Hot Stocks08:10 EDT Facebook fined EUR2B for violating German transparency law - Germany's Federal Office of Justice has issued a fine notice against Facebook Ireland Limited, as the company violated the provisions of the Network Enforcement Act when publishing the Transparency Report for the first half of 2018 . In the fine, the BfJ complains in particular that in the published report, the number of complaints received about illegal content is incomplete. This creates a distorted picture in the public about the extent of illegal content and the way the social network deals with them. The BfJ has imposed a fine of two million euros.
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TCON JNJ | Hot Stocks08:09 EDT TRACON Pharmaceuticals expects Phase 2 data of TRC253 in 2H20 - TRACON Pharmaceuticals (TCON) provided an update on its TRC253 program for the treatment of metastatic castrate resistant prostate cancer, which was licensed from Janssen Pharmaceutical (JNJ) in 2016. Phase 1 data from the ongoing Phase 1/2 clinical trial published in the 2019 ASCO Proceedings: 21 patients with metastatic castrate resistant prostate cancer who had progressed on prior Xtandi or Erleada treatment were enrolled into one of six cohorts of escalating doses of TRC253. Target PK exposures were achieved consistently with the 280 mg daily oral dose, which was selected as the recommended Phase 2 dose. The single patient with a F877L androgen receptor point mutation at baseline remained on treatment for 49 weeks with a partial response by RECIST. The remaining 20 patients did not have a F877L AR point mutation at baseline, and 48% remained on study for at least 6 months and one patient had a greater than 50% decrease in prostate specific antigen. TRC253 was well-tolerated and no drug-related serious adverse events were reported. Drug-related adverse events included QTcF prolongation, elevated lipase, fatigue, arthralgia, diarrhea, and platelet count decrease. Phase 2 portion of the ongoing Phase 1/2 trial amended to add an additional cohort of patients: Based on evidence of potential efficacy in the data from the completed Phase 1 portion of the study, an additional cohort of patients was added to the ongoing Phase 2 study. This cohort will test the hypothesis of whether TRC253 has efficacy in mCRPC patients with a defined point mutation other than F877L AR. Enrollment is ongoing in the new cohort with a defined point mutation, as well as the two existing cohorts, the first including patients with a F877L AR mutation and the second consisting of patients with another basis for resistance to Xtandi or Erleada. "We are pleased to have successfully completed the Phase 1 portion of the first-in-human study of TRC253 and look forward to the availability of Phase 2 data, which we expect in the second half of 2020," said CEO Charles Theuer. "Following delivery of the Phase 2 data, Janssen will have the right to reacquire the TRC253 program in return for an opt-in fee of $45 million and further success-based milestone and royalty payments."
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EQT | Hot Stocks08:07 EDT Rice Team encourages EQT shareholders to vote WHITE universal proxy card - Toby Z. Rice and the other members of the Rice Team, shareholders of EQT, wrote an open letter to encourage their fellow EQT shareholders to vote on the Rice Team's WHITE universal proxy card to elect all seven of the Rice Team's nominees and the five EQT nominees supported by the Rice Team. EQT's annual meeting is scheduled to be held on July 10.
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QTNT | Hot Stocks08:05 EDT Quotient announces contract extension of CEO Franz Walt - Quotient announced the Board of Directors' decision to amend CEO Franz Walt's employment agreement to be auto-renewable. The original contract was set to expire in 2020. Walt was appointed CEO of Quotient in March 2018.
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AMBR | Hot Stocks08:04 EDT Amber Road trading halted, news dissemination
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NVEE | Hot Stocks08:03 EDT NV5 Global acquires GeoDesign, terms not disclosed - NV5 Global announced that it has acquired GeoDesign, a geotechnical, environmental, geological, mining and pavement engineering company with five offices and 91 employees serving Washington, Oregon and California. GeoDesign's presence throughout the Pacific Northwest complements NV5's strong geotechnical capabilities in California and provides cross-selling opportunities for NV5's large client base in the Power market sector as well as in the Puget Sound region. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5's earnings.
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TH PUMP | Hot Stocks08:04 EDT Target Hospitality announces acquisition of community from ProPetro Holding - Target Hospitality (TH) announced the acquisition of a 168-room community located in Midland, TX from ProPetro Holding (PUMP), expanding its presence in the Permian Basin to 19 communities. The acquisition strengthens Target Hospitality's relationship with ProPetro. In conjunction with the transaction, the Company signed a long-term, exclusive network contract with ProPetro, including a long-term agreement for the entire Midland community. This will provide ProPetro with access to Target Hospitality's full suite of turnkey services at the Midland location as well as across the Company's proprietary Permian Basin lodging network. The transaction closed on July 1.
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NCR | Hot Stocks08:03 EDT NCR Corp. acquires D3 Technology, terms not disclosed - NCR Corporation announced that the company has acquired D3 Technology. Adding D3 immediately expands NCR Digital Banking into new market segments, including U.S. large banks and over time, international banks. Financial terms of the transaction were not disclosed. The transaction is expected to be slightly dilutive to EPS in the first year.
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MOGO | Hot Stocks08:02 EDT Mogo Finance sells 5.25% interest in Wekerloo Developments for $2.1M book value - Mogo Finance announced the sale of its 5.25% interest in Wekerloo Developments for book value of $2.1M to an arms' length buyer. Wekerloo is a private commercial real estate holding company with properties in Waterloo, Ontario and was one of the investments in the $24M investment portfolio the company acquired through the recently completed business combination with Difference Capital. The sale also included the assignment of a two-year option to purchase an additional 5% interest in Wekerloo.
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OVID | Hot Stocks08:02 EDT Ovid Therapeutics receives orphan drug designation from the EC for OV101 - Ovid Therapeutics announced that the European Commission has granted orphan drug designation to OV101 for the treatment of Angelman syndrome based on the results of the Phase 2 STARS trial. OV101 is believed to be the only delta-selective GABAA receptor agonist in clinical development for the treatment of certain neurodevelopmental disorders, including Angelman syndrome.
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INCY ZLAB | Hot Stocks07:40 EDT Incyte, Zai Lab enter into collaboration, license agreement for INCMGA0012 - Incyte (INCY) and Zai Lab Ltd. (ZLAB) announced that the companies have entered into a collaboration and license agreement for the development and commercialization of INCMGA0012, an investigational anti-PD-1 monoclonal antibody, in Greater China. Under the terms of the agreement, Zai Lab will pay Incyte $17.5M up front, and Incyte is eligible to receive up to an additional $60M in potential development, regulatory and commercial milestones, as well as tiered royalties from the low to mid-twenties, with Incyte responsible for all royalties and pass-through payments to its licensing partner, MacroGenics, Inc. Zai Lab will receive the rights to develop and exclusively commercialize INCMGA0012 in hematology and oncology in mainland China, Hong Kong, Macau and Taiwan. Incyte will retain an option to assist in the promotion of INCMGA0012 in Zai Lab's licensed territories.
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TGTX | Hot Stocks07:39 EDT TG Therapeutics presents follow-up data from Phase 2 trial of ublituximab - TG Therapeutics announced the presentation of long-term follow-up data from the Phase 2 and Open Label Extension trial of ublituximab, the company's novel glycoengineered anti-CD20 monoclonal antibody, in relapsing forms of Multiple Sclerosis. The presentation included long-term follow-up data for 45 patients from the Phase 2 trial that enrolled into the OLE trial and recaps the final efficacy data on patients enrolled in the Phase 2 study through 48 weeks of treatment. Presentation Highlights: Ublituximab continues to be well tolerated, with a median duration of follow-up of 97.5 weeks. No subjects discontinued due to an Adverse Event related to ublituximab on the Phase 2 or during the OLE. AEs deemed at least possibly related to ublituximab were infrequent during the OLE with all patients dosed 450mg of ublituximab administered in a one-hour infusion. Infusion Related Reactions were rare during the OLE, occurring in only 4 patients, all Grade 1 or 2. These long-term safety data, and the Phase 2 efficacy data support the ongoing, fully enrolled, international Phase 3 program evaluating ublituximab for the treatment of RMS. The Phase 3 trials, entitled ULTIMATE I and ULTIMATE II, are being conducted under Special Protocol Assessment agreement with the U.S. Food and Drug Administration and are being led by Lawrence Steinman, MD, of Stanford University.
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CME | Hot Stocks07:37 EDT CME Group reports June ADV up 29% to 23.1M - CME Group reached average daily volume, or ADV, of 20.9M contracts during Q2, up 14% from Q2 2018 and the second-highest quarterly volume on record. June volume averaged 23.1M contracts per day, up 29% from June 2018. Open interest at the end of June was 141M contracts, up 22% from year-end 2018 and up 23% from June 2018.
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FOLD CTLT | Hot Stocks07:36 EDT Amicus, Catalent Biologics enter partnership for gene therapy development - Amicus Therapeutics (FOLD) has entered into a strategic manufacturing agreement with Paragon Gene Therapy, a unit of Catalent Biologics (CTLT), for clinical manufacturing capabilities and capacity for multiple active preclinical lysosomal disorder programs that are currently in development in collaboration with the University of Pennsylvania. Penn has transferred technology to Paragon in the past and will collaborate with Amicus throughout the process. Amicus has also established a plasmid supply network and long-term supply agreements with industry-leading plasmid suppliers to support advancement of all current gene therapy pipeline programs. Collaboration includes multiple active preclinical lysosomal disorder programs: the current research and development production technologies and capabilities related to multiple active preclinical lysosomal disorder programs are being transferred to and developed at Paragon. Adeno-Associated Virus manufacturing platform: establishing an AAV manufacturing platform will further advance and establish manufacturing for multiple Amicus preclinical gene therapy programs while leveraging Paragon's established manufacturing capabilities for initial clinical supply and commercial product. Pompe preclinical gene therapy program: Initial technology transfer and process development to focus on Amicus Pompe AAV gene therapy program.
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INCY ZLAB | Hot Stocks07:35 EDT Incyte and Zai Lab announce collaboration and license agreement for INCMGA0012 - Incyte (INCY) and Zai Lab (ZLAB) announced that the companies have entered into a collaboration and license agreement for the development and commercialization of INCMGA0012, an investigational anti-PD-1 monoclonal antibody, in Greater China. Under the terms of the agreement, Zai Lab will pay Incyte $17.5M up front, and Incyte is eligible to receive up to an additional $60M in potential development, regulatory and commercial milestones, as well as tiered royalties from the low to mid-twenties, with Incyte responsible for all royalties and pass-through payments to its licensing partner, MacroGenics, Inc. Zai Lab will receive the rights to develop and exclusively commercialize INCMGA0012 in hematology and oncology in mainland China, Hong Kong, Macau and Taiwan. Incyte will retain an option to assist in the promotion of INCMGA0012 in Zai Lab's licensed territories. The transaction is effective immediately upon the execution of the collaboration and license agreement.
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IOVA | Hot Stocks07:33 EDT Iovance CEO sees path for LN-145 BLA submission in 2H20 following FDA meeting - Iovance Biotherapeutics provided an update on the regulatory path for LN-145 in advanced cervical cancer. Based on an End of Phase 2 meeting held with the U.S. Food and Drug Administration, the FDA has acknowledged that the ongoing innovaTIL-04 study of TIL therapy LN-145 may be sufficient to support registration in the treatment of patients with advanced cervical cancer. The study is being enrolled with a prospective definition of objective response rate read out by a Blinded Independent Review Committee as the primary endpoint. In accordance with the FDA's recommendation, the new version of the protocol will further define the patient population. Iovance plans to include in the Biologics License Application. patients who have progressed following initial systemic therapy for recurrent or metastatic disease, which constitutes almost all of the more advanced patients enrolled to date. In addition, the company announced that the innovaTIL-04 study is expected to enroll a total of 75 to 100 patients in order to support a BLA submission. "The FDA's agreement to consider acceptability of the ongoing study in patients with cervical cancer significantly accelerates our path to BLA submission for LN-145," said CEO Maria Fardis. "This feedback is encouraging. The ability to use the current study, as well as the Breakthrough Therapy designation recently granted to LN-145, allows us to plan on a path to BLA submission in the second half of 2020."
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CNI | Hot Stocks07:31 EDT Canadian National investing $210M in North Vancouver rail capacity - CN announced that western Canadian grain movement in the month of June exceeded 2.3 million metric tonnes, compared to the three year average of 1.80 MMT and June 2018's result of 1.99 MMT. The cumulative total of tonnage moved for the 2018-19 crop year is on record pace at 25.5 MMT, or one million metric tonnes ahead of the previous record pace, despite the restrictions on Canadian exports to China. "Our dedication to providing outstanding service for the Canadian economy contributes to Canada's reputation as a strong and stable supply chain provider," said CEO JJ Ruest. "We are investing $210M in rail capacity in North Vancouver to support the expanding coal and grain export terminals and to further encourage the growth of natural resources export supply chains." "Our investments and dedicated grain team focused our efforts onto what is going to be a record year," said Allen Foster, vice president of Bulk at CN. "We are optimistic that the strong pace of shipments we've seen in June takes us through to the end of the crop year and we can build on our record shipment pace."
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NDAQ | Hot Stocks07:29 EDT Nasdaq, Caja De Valores sign new agreement for CSD technology solution - Nasdaq and Caja de Valores S.A., Argentina's Central Securities Depository and an integral part of Bolsas y Mercados Argentinos, have signed a new agreement for Nasdaq to deliver a full CSD technology solution to Caja de Valores including registrar services. The deal marks Nasdaq's second CSD client in Latin America. By leveraging Nasdaq's technology, Caja de Valores will be upgrading its current in-house developed system. The new solution allows Caja de Valores to process larger volumes of transactions with a significantly increased speed and agility, while also meeting international standards in CSD products and messaging services. Further, the technology will also benefit the company in creating, supporting and expediting efforts in launching new products and services to their existing client base and future customers alike.
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JWCAF | Hot Stocks07:27 EDT James E Wagner gets Health Canada approval for additional production capacity - James E. Wagner Cultivation announced that on June 28, 2019, it received approval of a licence amendment from Health Canada, permitting it to grow cannabis in additional flowering rooms at the Corporation's flagship facility, JWC 2, located at 530 Manitou Drive in Kitchener, Ontario. The newly approved flowering rooms will add approximately 11,000 sq. ft., resulting in a total of nearly 22,000 sq. ft. of flowering space at JWC 2. The additional flowering rooms approved by Health Canada are the result of the previously press released Phase 2 construction of JWC 2. At full-scale, JWC 2 will measure 345,000 sq. ft. and is expected to be fully equipped with the Corporation's GrowthSTORM Dual Droplet System. The proprietary GrowthSTORM(TM) Dual Droplet(TM) System is a cultivation system that uses two separate nutrient solutions, delivered to the plant's root system through two distinct channels, all housed within a single enclosure. The JWC team has already completed a variety of preparations designed to populate the new Phase 2 flowering rooms with plants shortly after receiving this Health Canada approval.
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MUX | Hot Stocks07:25 EDT McEwen Mining says MSHA determined employee death 'was not mining related' - McEwen Mining reports that the formal investigation into the previously announced death of a contractor's employee at the Gold Bar Mine on May 13th, 2019 is complete. The company said, "The Mine Safety and Health Administration is the regulatory body of the United States Department of Labor that leads this type of investigation into accidents at mine properties. Based on all of the evidence they obtained from their thorough investigation, including an autopsy report, MSHA has determined that the death was from natural causes, and therefore, it was not mining related. McEwen Mining wishes to extend our deepest sympathies to everyone impacted by this unfortunate event."
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RBZ | Hot Stocks07:22 EDT Reebonz Holding expands 'Sell to Reebonz' to five new markets - Reebonz Holding Limited announced that it has expanded its recently launched "Sell to Reebonz" service to five new markets: Malaysia, Indonesia, Hong Kong, Taiwan, and Australia. The "Sell to Reebonz" service makes selling as easy as buying and gives all luxury consumers an easy and trusted way of selling their pre-owned designer products.
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ALEAF | Hot Stocks07:21 EDT Aleafia receives Health Canada permits to export cannabis products to Australia - Aleafia Health has received multiple Export Permits from Health Canada, which allow the Company to begin its first international cannabis product shipment. The Company expects to ship its branded medical cannabis oils in the next month, which will be distributed by Australian Licensed Producer CannaPacific. Aleafia Health owns a 10% equity stake in CannaPacific. The Permits allow specifically for the export of the Company's branded medical cannabis oils, including drops and sprays. As previously announced, the Company has already received the corresponding Permits to Import medical cannabis products from the Australian Government's Department of Health.
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EMHTF | Hot Stocks07:19 EDT Emerald Health's JV launches endocannabinoid-supporting health supplement - Emerald Health Therapeutics, through its joint venture Emerald Health Naturals, has introduced a cannabis-free herbal and botanical endocannabinoid-supporting health supplement product line in Canada. EHN's Endo products, which do not contain cannabis or its derivatives, aim to support the endocannabinoid system to help maintain equilibrium in the body and are already available in over 200 natural health food stores across Canada. The Endo product line includes Endo Brain, Endo Sleep, Endo Calm, Endo Bliss, Endo Inflame and Endo Omega, and are intended to foster overall health and wellness and potentially enhance the body's response to conditions such as stress, anxiety, restless sleep, inflammation and pain. These products feature PhytoCann Complex, a proprietary formulation consisting of non-psychoactive, plant-based bioactive compounds that support the body's endocannabinoid system.
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PSTI | Hot Stocks07:17 EDT Pluristem CEO says will 'seek short-term opportunities to leverage' technology - Pluristem Therapeutics issued an update to its shareholders from its CEO Yaky Yanay, which read in part, "Pluristem's cell therapy products, PLX-PAD and PLX-R18, are both promising candidates that emerged from our proprietary cell processing and 3-D manufacturing capabilities. We are currently in discussions and negotiations with potential partners as we consider which products and territories we will open to potential licensing agreements. Our existing collaborations, which include the NIH, DoD, NASA, Fukushima University and Hospital, Chart Industries, Thermo Fisher Scientific and CHA Biotech, reflect what we believe to be the broad and growing interest in our cell therapy capabilities. I am pleased with these partnerships and we intend to work hand in hand to create more business opportunities for the benefit of all of us. Collaborations such as these provide multiple opportunities for value creation using our current technology platform, allowing us to remain focused on advancing and expanding our lead programs. We will also continue to seek short-term opportunities to leverage our technology to potentially generate cash and profits, and we are exploring collaborations in additional industries and in new areas of interest. One example is our recent announcement that we secured initial intellectual property surrounding the potential use of our cell culturing technology in the manufacture of cannabinoid producing cells. We believe this is an exciting opportunity to create additional value for our company and reflects the potential broad applicability of our technology. In closing, I believe that the future is very promising, and I am excited about the opportunities we have to create a positive impact for our company and long-term shareholder value."
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OEC | Hot Stocks07:15 EDT Orion Engineered moving to U.S. domestic filer status - Orion Engineered Carbons announced that the company will for all its SEC filings from January 1, 2020 onwards become a U.S. Domestic Filer and will thus file its 2019 Annual report as such. Orion thereby ends its Foreign Private Issuer status under Rule 3b-4(c) of the Securities Exchange Act of 1934.
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CG | Hot Stocks07:15 EDT Carlyle Group portfolio company Net Health to acquire Optima - Net Health announced that it has entered into an agreement to acquire Optima Healthcare Solutions) a provider of cloud-based electronic medical record software for contract therapy companies, nursing and assisted living facilities, outpatient therapy clinics, home health therapy providers and hospice organizations. The transaction is expected to close in July. The combination of these two companies creates a company serving multiple specialized clinical settings throughout the continuum of care-from the hospital to the patient's home and all points in between. The combined company will serve patients in more than 14,000 facilities across North America. Net Health is a portfolio company of The Carlyle Group and Level Equity. Investment funds affiliated with each will invest additional equity in the deal. Financial details of the transaction were not disclosed.
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PSTI | Hot Stocks07:14 EDT Pluristem CEO expects interim data readout for PLX-PAD in limb ischemia in 1H20 - Pluristem Therapeutics issued an update to its shareholders from its CEO Yaky Yanay, which read in part, "I would like to provide a brief update on the status of our development programs. These programs are the key elements in transforming Pluristem into a mature, profitable company that we believe will generate significant long-term value...PLX-R18 for acute radiation syndrome: Among our near-term priorities is to secure an agreement with the U.S. government this year. We developed this unique, lifesaving product candidate with the support of the U.S. National Institute of Allergy and Infectious Diseases, During the past year, we have completed a series of required studies and I intend to closely work with the agencies to satisfy the remaining development steps in order to bring to market this important product that can improve civilian and armed forces safety and preparedness. In parallel, we continue to work with the U.S. Department of Defense on the development of this novel compound as a countermeasure for ARS, prior to exposure to radiation. A series of studies conducted by the DoD was recently completed and I expect to be able to share the data with you in the coming weeks. PLX-PAD for critical limb ischemia: We are working hard to prepare the company for the interim data readout, which we expect in the first half of 2020 that, if positive, could support an application for conditional marketing approval in Europe under the European Union's Adaptive Pathways Program. This program could allow us to enter the market and begin generating revenue sooner than anticipated, which would be a true inflection point for our company. We also seek to advance our U.S. Food and Drug Administration's expanded access program, which could provide us with meaningful real-world data and potential cost recovery. PLX-PAD for muscle regeneration following hip fracture: We are advancing a multinational Phase III study and expect data in the second half of 2020. Today, there is no suitable medical treatment for the regeneration of damaged muscle and we see many reports that suggest up to 30% of hip fracture patients die within one year following the fracture due to immobility associated with the disease. This makes PLX-PAD a much-needed treatment which could potentially improve patients' lives while also saving hospitalization and rehabilitation costs. This important program also provided us with the opportunity to collaborate with NASA and examine our cells' ability to support muscle regeneration in the challenging microgravity environment which causes muscle and bone loss."
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PSTI | Hot Stocks07:11 EDT Pluristem CEO says 'focused on creating value' for shareholders - Pluristem Therapeutics issued an update to its shareholders from its CEO Yaky Yanay, which read in part, "Following our recently announced CEO transition, I want to take this opportunity to share with you my point of view and short term goals and objectives for Pluristem. Most importantly, I wanted to share why I believe Pluristem is such a great company, and why I have strong faith in what we do and in the bright vision I see for our company. This might not be a straight-forward CEO letter, but in this letter, I would like to speak to you, our loyal shareholder base, who have stayed with us for years and want to see us succeed. I would also like to address our new shareholders who we believe see the potential of this company and seek to fully realize Pluristem's potential...Pluristem is much more than an investment, however. Pluristem is a company with innovative technology, a medical and social vision and a unique approach to the way we take care of patients, our families and our parents. Pluristem is comprised of the most talented and committed people I have ever met, who are working hard every day to achieve excellence in everything they do. They share a common goal and vision to develop a truly novel drug that can communicate with the patients' own bodies and provide them with the regenerative biologic factors they need to heal...The policy I intend to lead is: "Focus on the fundamentals and taking advantage of opportunities." As we approach significant milestones, my main focus will be on transitioning to a commercial stage, revenue generating company. During the last few months, we believe that our valuation was affected by our recent financing, as we took the opportunity to secure financial resources that should assist us in achieving our key near-term milestones. I would like to assure you that I will be very focused on creating value for you, our shareholders, and I believe we have many opportunities to do so. Therefore, and as a vote of confidence in our future success, our board of directors approved, at my suggestion, a reduction in my own compensation and all other directors' compensation for the 2020 financial year, until the earlier of one year or when our market capitalization doubles. In addition, I have implemented a broad cost reduction plan to increase efficiency and allow us to reach important milestones with our current resources."
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REXR | Hot Stocks07:10 EDT Rexford Industrial announces update on ATM stock offering program - Rexford Industrial announced that, under its at the market, or ATM stock offering program, the company issued an aggregate of 5,669,424 shares of common stock during the quarter ending June 30. The shares were issued at a weighted average offering price of $38.21 per share, receiving gross proceeds of approximately $216.6M and net proceeds of approximately $213.4M. The company used the net proceeds of the ATM to fund acquisitions, for working capital and other general corporate purposes.
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USAP | Hot Stocks07:08 EDT Universal Stainless & Alloy announces low alloy VAR bar base price increase - Universal Stainless & Alloy Products announced a base price increase of 5% to 10% on all low alloy VAR quality bar products manufactured at its Bridgeville, Dunkirk and North Jackson facilities. The increase will be effective immediately for all new orders. Current material and energy surcharges will remain in effect.
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ENTX | Hot Stocks07:07 EDT Entera Bio initiates Phase 2 dose ranging study for Oral PTH - Entera Bio announced that it has initiated a Phase 2 study with its osteoporosis drug candidate EB613, an oral human PTH tablet. This double blinded, placebo controlled, dose-ranging study will evaluate three different doses in postmenopausal women with low bone mass. The study will include up to 160 patients dosed once daily for a period of 6 months. Human PTH is a known anabolic treatment currently available as a daily subcutaneous injection, Forteo with a known effect on bone formation biomarkers and bone mineral density. The primary endpoint of this study will be bone formation biomarkers at 3 months with an additional evaluation at 6 months, along with a BMD readout. The purpose of the study is to optimize the design of Entera's planned Phase 3 pivotal study, which Entera will explore performing with a larger pharmaceutical partner. The study was approved by the Israeli Ministry of Health and will be conducted at the osteoporosis clinics of 4 leading medical centers in Israel. These clinics have participated in a number of multinational osteoporosis trials for large pharmaceutical companies. All lab tests will be processed by an accredited central lab and BMD measurements will be monitored and analyzed in the US by a leading US CRO. The 3-month biomarker results are expected to provide preliminary insight into the efficacy of the oral PTH treatments and preliminary results may be obtained once the first half of the study population has been dosed for this period. A full study report will be generated upon completion of the 6-month biomarker and BMD analysis. It should be noted that preparations for the EB613 Phase 3 study are likely to commence after reviewing the 3-month biomarker data. The Company has already created a Phase 3 study outline and currently envisages a trial with a partner comparing EB613 to Forteo, enrolling 600 to 800 patients and with a primary endpoint based on non-inferiority in BMD outcome. Other details, including the EB613 dose and the length of the study, would be finalized based on the results obtained from the Phase 2 study.
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EPAM | Hot Stocks07:05 EDT Epam Systems acquires Competentum - Epam Systems announced its acquisition of Competentum, a full-stack educational content services company and its learning platform, ShareKnowledge. The addition of Competentum, with its content development, optimization and experience capabilities, will extend EPAM's digital proposition in the media, publishing and EdTech industries. Competentum focuses primarily on educational solutions, with digital learning platforms and services that are pre-integrated to provide an interactive and AI-optimized learner experience.
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PINC | Hot Stocks07:04 EDT Premier begins supplying cysteine hydrochloride injection to providers - Premier, through its ProvideGx program, is now supplying cysteine hydrochloride injection to providers, a critical drug for pediatric and adult patients that require total parenteral nutrition, or TPN. Cysteine hydrochloride has been in shortage in the U.S. since 2015. This FDA-approved New Drug Application for cysteine hydrochloride injection is held by Exela Pharma Science. The financial terms of Premier's agreement for cysteine hydrochloride were not disclosed. Revenues from this agreement are not expected to materially impact Premier FY 2019 results.
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RCL | Hot Stocks07:02 EDT Royal Caribbean orders a third Icon-class ship for delivery in 2025 - Royal Caribbean announced that it has entered into an agreement with shipbuilder Meyer Turku to order a third Icon-class ship for delivery in 2025. The ship will join its two sister ships, to be delivered in 2022 and 2024, in Royal Caribbean International's fleet. This order is contingent upon financing.
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EXK | Hot Stocks06:53 EDT Endeavour Silver reports fatal accident at Bolanitos mine - Endeavour Silver announces with great sadness that a valued employee lost his life in a fatal accident at the Bolanitos mine in Guanajuato, Mexico on Saturday June 29. Jose de Jesus Morales Yebra, age 22, was working as a driller's helper with a senior driller installing roof bolts in the Plateros section of the mine when a part of the roof collapsed. Jose Morales was killed by falling rock. The driller also suffered minor injuries in the accident. Endeavour personnel immediately followed mine rescue protocols to close the mine, rescue the injured, inform the family and authorities and conduct a detailed investigation. The company extends its condolences and is taking care of the family in this time of need. The company emphasizes safety as the top priority in its mining operations. The investigation conclusions and recommendations will be reviewed with key mine-site management and workers at each of Endeavour Silver's operations this week by Endeavour's Vice President of Operations in order to better understand what more can be done to improve safety performance.
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CMC | Hot Stocks06:51 EDT Commercial Metals appoints Paul Lawrence as CFO - Commercial Metals announced that Mary A. Lindsey has announced her retirement as Senior Vice President and CFO of the Company effective as of August 31. Lindsey joined the Company in September 2009 as Vice President-Tax. In accordance with the Company's normal succession planning, the Company has also announced that effective September 1, Paul J. Lawrence will assume the role of Vice President and CFO for the Company, reporting to Barbara R. Smith, Chairman, President and CEO. In this position, Lawrence will have responsibility for all financial and IT functions of the Company. Lindsey will remain employed with the Company for a period of time to ensure a smooth transition of the CFO role to Lawrence. Lawrence joined the Company in February 2016 as Vice President of Finance. He was appointed Vice President of Finance and Treasurer in September 2016 and his role was expanded to include Financial Planning and Analysis in January 2017. Prior to joining the Company, from 2003 to 2016, Lawrence worked for both Gerdau Long Steel North America, a U.S. steel producer, and Gerdau Ameristeel Corporation.
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ARES | Hot Stocks06:34 EDT UMBA announces agreement with Acordia and affiliate of Ares Management - The UMass Building Authority, or UMBA, announced that it has entered into definitive documents with Accordia Partners and an affiliate of the Real Estate Group of Ares Management on lease terms for the 20-acre site that had previously housed the Bayside Expo Center. Final lease terms for the site formalize an agreement in principle announced by the parties in February when UMBA voted to designate Accordia Partners and Ares to build a mixed-use urban innovation campus at the site. The proposed mixed-use project will consist of up to 3.4M square feet on the parcel. Under the terms of the agreement with UMBA, Accordia Partners and Ares will enter into a 99-year ground lease with expected consideration of $235M. Closing of the transaction and exchange of funds is expected to happen after Accordia and Ares receive all necessary regulatory approvals, which is expected to take approximately 24 months.
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AMRN | Hot Stocks06:33 EDT Amarin says Vascepa FDA action date on track for September 28 - Amarin said this morning that the Vascepa supplemental new drug application FDA action date goal is on-track for September 28, 2019. It explained, "As previously announced, Amarin submitted an sNDA to the U.S. Food and Drug Administration (FDA) on March 28, 2019, seeking to expand the indication for Vascepa. The sNDA was based on the positive results of the landmark REDUCE-IT(TM) cardiovascular outcomes study. If approved, the expanded label is expected to allow for considerably broader promotion of Vascepa in the United States. As announced in May 2019, the FDA accepted the sNDA for filing and granted Priority Review designation with an assigned PDUFA goal date of September 28, 2019."
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AMRN | Hot Stocks06:30 EDT Amarin sees Vascepa sales growth accelerating after label expansion - Amarin CEO John Thero said in this morning's press release, "We are pleased with the progress made to date, including the significant revenue growth we've achieved for Vascepa. We anticipate Vascepa revenue growth to accelerate further after label expansion approval and with a larger sales team, and then again after we commence promotion of Vascepa for cardiovascular risk reduction on television and through other media. We are preparing for a robust launch of REDUCE-IT data with the aim of helping physicians improve patient care for millions of patients with residual cardiovascular risk after their cholesterol is controlled, as identified by elevated triglycerides."
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AMRN | Hot Stocks06:29 EDT Amarin 'not prepared' to provide Vascepa guidance beyond 2019 - Amarin said in this morning's press release, "Forecasting Vascepa revenue levels at this early stage remains difficult. Based on estimated total revenue results for the first half of 2019 which exceeded prior expectations, Amarin increases its guidance for 2019 net total revenue to a range of $380 to $420 million. While Amarin remains optimistic that Vascepa will generate billions of dollars in revenue in the years to come, the history of other therapies for chronic conditions suggests that growth builds over multiple years, and thus, the company is not prepared to provide quantified guidance regarding revenue levels beyond 2019."
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AMRN | Hot Stocks06:27 EDT Amarin jumps 6.5% to $20.50 after increasing 2019 sales outlook
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AMRN | Hot Stocks06:14 EDT Amarin to accelerate Vascepa commercialization, increase U.S. sales force to 800 - Amarin has accelerated and further expanded its commercialization plans for Vascepa in the United States. Amarin intends to increase the size of its U.S. sales force to approximately 800 sales representatives with the aim of having its expanded team hired, trained and deployed by October. This increase would represent a doubling of the size of Amarin's current sales force. The timing of such expansion had been accelerated in part due to the priority review designation of the sNDA for Vascepa. Assuming label expansion for Vascepa on the September 28 PDUFA date, Amarin expects to have educational and promotional materials available by early October to promote Vascepa based on the new label. The size of the planned expansion reflects the result of evaluations involving multiple contributing factors. Previously Amarin had estimated the potential expansion of its sales force to reach between 600-800 sales representatives and for the expansion to potentially occur in phases. The decision to expand the sales force to approximately 800 sales representatives by October was based on new information including the progress being made by sales representatives hired at the start of 2019, positive feedback from physicians with understanding of the REDUCE-IT data, additional data on the commercial opportunity that exists in detailing physicians who have not yet been educated about Vascepa and data suggesting that education of healthcare professionals regarding Vascepa will be improved if sales representatives call on physicians with greater frequency. Amarin intends to support its expanded U.S. sales team with multiple promotional and educational programs. All such initiatives will be aimed at providing truthful and non-misleading information to lead to improved patient care. Included in Amarin's promotion plans is a direct-to-consumer advertising campaign, subject to review by the FDA's Office of Prescription Drug Promotion, or OPDP. The company anticipates submitting proposed Vascepa advertisements to OPDP in October. Based on the timeline for other companies getting consumer advertising reviewed by FDA following new labelling, assuming new Vascepa labelling, launch of such branded advertising is anticipated in Q2 of 2020. Plans for commercialization of Vascepa outside of the United States remain unchanged, including intentions to submit for regulatory approval of Vascepa in the European Union near the end of 2019.
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AMZN | Hot Stocks06:12 EDT Amazon to create 1,000 new permanent jobs in Italy by end of 2019 - Amazon announced that it will create 1,000 permanent jobs in Italy by the end of 2019, in a move that will take the company's total workforce to over 6,500. These new job opportunities are for people with all types of experience, education and skill levels - from engineers and software developers, to logistics and marketing experts. Many new roles will also be available at Amazon's new fulfillment center that opened yesterday in Torrazza Piemonte and at its Delivery Stations across the country. Additional roles will be available at Amazon's existing fulfillment centers in Castel San Giovanni, Passo Corese and Vercelli, at its sortation center in Casirate d'Adda, at its Customer Service center in Cagliari, and at the company's corporate offices in Milan, the company said in a statement.
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DISH | Hot Stocks06:06 EDT Dish promotes Paul Orban to CFO - Dish Network has promoted Paul Orban to Executive Vice President and CFO. Orban, a 23-year veteran of DISH, had served as the company's Senior Vice President, Chief Accounting Officer, Principal Financial Officer and Controller. Orban will continue reporting to DISH President and CEO Erik Carlson.
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KBR | Hot Stocks05:59 EDT KBR awarded $45.9M task order by NAVAIR - KBR announced that it has been awarded a $45.9M task order to provide logistics information technology services to the Naval Air Systems Command's, or NAVAIR, Logistics and Maintenance Information Systems and Technology Division. KBR was awarded this cost-plus-fixed-fee task order under the Department of Defense Information Analysis Center's, or DoD IAC, multiple-award contract, or MAC. The task order is part of the DoD IAC's Cyber Security and Information Systems Technical Area Task, or CSTAT. This task order was awarded by the U.S. Air Force Installation Contracting Center (AFICC). KBR won a seat on the CSTAT contract in December 2015.
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ORA | Hot Stocks05:07 EDT Ormat Technologies acquires 49% of Ijen geothermal project in Indonesia - Ormat Technologies announced that it has signed and closed a set of agreements to acquire from a Medco Power subsidiary 49% in the Ijen geothermal project company, which is holding the geothermal license to develop Ijen project in East Java. Under terms of the agreements, Ormat will acquire 49% of the shares of the Ijen geothermal project company and will commit to additional funding for the project exploration and development, subject to specific conditions. A subsidiary of Medco Power will retain 51% ownership in the company. Ormat and Medco will develop the project jointly.
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