Stockwinners Market Radar for October 25, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
MSFT AMZN | Hot Stocks20:26 EDT Department of Defense selects Microsoft over Amazon for cloud contract - The Department of Defense announced the award of its enterprise general-purpose cloud contract to Microsoft (MSFT). "This continues our strategy of a multi-vendor, multi-cloud environment as the department's needs are diverse and cannot be met by any single supplier. This contract will address critical and urgent unmet warfighter requirements for modern cloud infrastructure at all three classification levels delivered out to the tactical edge," the agency said in a statement. The contract is valued at as much as $10B. Amazon.com (AMZN) was seen as likely to win the deal. Reference Link
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MYL | Hot Stocks18:35 EDT Mylan announces voluntary recall of one lot of Alprazolam Tablets, USP C-IV 0.5 - Mylan is conducting a voluntary nationwide recall of one lot of Alprazolam Tablets, USP C-IV 0.5 mg, to the consumer/user level. This lot is being recalled due to the potential presence of foreign substance. Clinical impact from the foreign material, if present, is expected to be rare, but the remote risk of infection to a patient cannot be ruled out. To date, Mylan has not received any adverse events related to this batch. Alprazolam Tablets are indicated for the management of anxiety disorder, the short-term relief of symptoms of anxiety, and the treatment of panic disorder, with or without agoraphobia. Alprazolam Tablets, USP C-IV 0.5 mg, are packaged in bottles of 500. This batch was distributed in the U.S. between July 2019 and August 2019.
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AAL BA | Hot Stocks18:23 EDT American Airlines CEO: Demand for air travel is very strong - In an interview on CNBC's Mad Money, American Airlines (AAL) CEO Doug Parker said: We had to modernize our fleet, but it's behind us now... Working to ensure Boeing (BA) shareholders bear the cost of Boeing's failures... We feel Boeing will do what is right on MAX damages... We are making innovations... Seeing increasing demand for air travel in most regions.
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NEXA | Hot Stocks18:18 EDT Nexa Resources reports equipment failure at Vazante - Nexa Resources informed its shareholders and the market in general the occurrence of an equipment failure at the Vazante mine operation in Minas Gerais, Brazil. During a regular inspection activity, a crack was identified in the trunnion at the discharge side in the primary mill used in the concentration plant. No work accidents nor environmental impacts from this failure were reported. Equipment repair should last about 30 days. During this period, Vazante mine should operate at 30% of its nominal production capacity and as a result, Nexa expects a production loss of 8 to 10 thousand tons of zinc in concentrate. 2019 production guidance is under review to reflect this temporary loss. Nexa will keep its shareholders and the market duly informed in a timely manner of any further developments arising from this equipment failure.
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ATRA | Hot Stocks18:12 EDT Atara Biotherapeutics announces executive departures - Atara Biotherapeutics announced the departures of Dr. Christopher Haqq, Chief Scientific Officer, and Mina Kim, General Counsel and Head of Corporate Strategy. Atara continues to actively search for a new Global Head of Research and Development as well as a new Head of Commercial. The company also plans to recruit a new General Counsel.
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TSLA | Hot Stocks17:46 EDT Tesla CEO Musk: Will not have much demand problem for solar roofs - Says demand is far ahead of the supply. Says addressable market is over 100M houses worldwide, will want to ramp up production as quickly as possible. Comments from the company's Solar Roof presentation Conference Call.
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PCG | Hot Stocks17:25 EDT PG&E monitoring adverse weather this weekend, may affect 850K customers - Pacific Gas and Electric Company said it continues to monitor a potentially powerful and widespread dry, hot and windy weather event expected to begin impacting the service area Saturday between 6 and 10 p.m. and lasting until midday Monday. PG&E will need to turn off power for safety several hours before the potentially damaging winds arrive. The potential Public Safety Power Shutoff is expected to affect approximately 850,000 customers and may impact portions of 36 counties across portions of Humboldt, the Sierra foothills, Western Sacramento Valley, North Bay, and across the greater Bay area, Monterey Bay and northern Central Coast on Saturday, Oct. 26. Customers in the southern-most portion of PG&E's service area in Kern County could have power shut off for safety on Sunday, Oct. 27.
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F | Hot Stocks17:22 EDT UAW confirms picking Ford as next car maker for bargaining - UAW President Gary Jones announced that the union will proceed with pattern bargaining at Ford. "Now that the General Motors strike has ended and the agreement has been ratified, we will proceed to Ford working with UAW Vice President Rory Gamble, Director of the UAW Ford Department and their staff."
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GM... | Hot Stocks16:47 EDT UAW General Motors members ratify 2019 Collective Bargaining Agreement - UAW General Motors (GM) members ratified the 2019 Collective Bargaining Agreement this evening ending the longest automotive strike in 50 years, the union said. "General Motors members have spoken," said Terry Dittes, UAW Vice President and Director of the UAW-GM Department. "We are all so incredibly proud of UAW-GM members who captured the hearts and minds of a nation. Their sacrifice and courageous stand addressed the two-tier wages structure and permanent temporary worker classification that has plagued working class Americans." With ratification of the contract, the UAW members strike has ended, and workers will begin to report to work as instructed by General Motors. The ratified contract includes an economic package of an $11,000 per member signing bonus, performance bonuses, two 3% annual raises and two 4% lump sum payments and holding the line on health care costs. The UAW will announce the next pattern bargaining company, FCA (FCAU) or Ford (F) shortly.
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ARMK | Hot Stocks16:46 EDT UAW Aramark members ratify CBA - UAW Aramark members ratified the 2019 Collective Bargaining Agreement this evening. With ratification of the contract, the UAW members will begin to report to work as instructed by Aramark. Aramark workers had suspended their strike pending ratification. The Aramark ratified contract includes significant gains in job security, wages, and health care benefits, the union said. "Aramark members showed tremendous strength throughout their strike. We want to thank their families and local communities for their outpouring of support," said UAW Vice President Terry Dittes.
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VIR | Hot Stocks16:40 EDT Temasek reports 5.03% passive stake in Vir Biotechnology - Temasek disclosed a 5.03% stake in Vir Biotechnology, which represents 5.5M shares of common stock. The filing does not allow for activism.
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CRON | Hot Stocks16:32 EDT Cronos Group announces closing of A$20M Cronos Australia IPO - Cronos Group noted the separately announced closing of the A$20M initial public offering of Cronos Australia Limited. Under the offering, Cronos Australia issued 40 million new shares at an offering price of A$0.50 per share. Cronos Australia expects to start trading on the Australian Securities Exchange on a deferred settlement basis on November 7, 2019.
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CRCM | Hot Stocks16:32 EDT Care.com spikes up over 7% on report of sale evaluation - Shares of Care.com are up 7.2% or 80c afterhours at $11.98 per share after Bloomberg report the company is working with advisors.
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DKL | Hot Stocks16:31 EDT Delek Logistics raises quarterly cash distribution to 88c from 85c per unit - The third quarter cash distribution is payable on November 12 to unitholders of record on November 4.
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TER | Hot Stocks16:23 EDT Teradyne director Bradley sells 14K shares of common stock - In a regulatory filing, Teradyne disclosed that its director Michael Bradley sold 14.1K shares of common stock on October 24th. The total transaction size was $876K.
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CSX | Hot Stocks16:22 EDT CSX's Halverson sells nearly 40,000 common shares - CSX director Steven T. Halverson disclosed the sale of 39,812 common shares of the company at a price of $71.65 per share.
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AZZ | Hot Stocks16:19 EDT AZZ Inc. CAO James Byelick to depart, Philip Schlom to succeed - AZZ Inc. announced that James Byelick, VP and chief accounting officer, or CAO, of AZZ, will leave the company effective October 31. Byelick's departure is not the result of any disagreement with the company regarding its operations or accounting policies or practices. Philip Schlom has agreed to join the company and will transition into the role of CAO of AZZ. Before joining the company, Schlom served as VP finance, audit, controls and financial transformation of Exterran from 2017 until 2019, which provides energy equipment and services to energy customers globally.
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FBP | Hot Stocks16:16 EDT First BanCorp raises quarterly dividend to 5c from 3c per share - The dividend is payable on December 13 to shareholders of record at the close of business on November 29.
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DSX | Hot Stocks16:15 EDT Diana Shipping names Semiramis Paliou deputy CEO - Diana Shipping announced the appointment of Semiramis Paliou to the office of Deputy Chief Executive Officer, effective immediately. Paliou has served as a director of the company since 2015 and as Chief Operating Officer since 2018, and will continue to serve in these roles. It is expected that the company's current Chief Executive Officer and Chairman, Simeon Palios, will remain fully engaged in his current role. The appointment was made by the unanimous decision of the board of directors upon the recommendation of the company's independent Nominating Committee.
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BRBR | Hot Stocks16:12 EDT GIC reports 6.13% passive stake in BellRing Brands - GIC disclosed a 6.13% stake in BellRing Brands, which represents 2.1M shares. The filing does not allow for activism.
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UXIN | Hot Stocks16:10 EDT GIC reports 5.01% passive stake in Uxin - GIC disclosed a 5.01% stake in Uxin, which represents over 42.0M shares. The filing does not allow for activism.
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AAC | Hot Stocks16:09 EDT AAC Holdings trading halted, news pending
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EVOL | Hot Stocks16:03 EDT Evolving Systems satisfies Nasdaq's minimum bid price rule - Evolving Systems announced that its shares of Common Stock closed at $1.19 on October 23, 2019, marking the tenth consecutive day that the shares' closing price exceeded $1.00 per share and enabling Evolving Systems to regain compliance with the Nasdaq Stock Market Rule 5550a2. The company received notification from Nasdaq that Evolving Systems has regained compliance with the Minimum Bid Price Rule. As previously reported, on July 8, 2019, Nasdaq notified the company that it no longer complied with the Minimum Bid Price Rule, as the bid price of the company's shares of Common Stock closed below the minimum $1.00 per share for the 30 consecutive business days prior to the date of the letter.
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T | Hot Stocks15:11 EDT WarnerMedia to buy Ole Communications' minority stake in HBO Ole Partners - AT&T's WarnerMedia has reached an agreement to buy Ole Communications' minority stake in HBO Ole Partners, the joint venture between WarnerMedia and Ole Communications. When the transaction closes, WarnerMedia will own 100% of all HBO, MAX, Cinemax and HBO Go services in Spanish-speaking Latin America and the Caribbean. The ownership structure of HBO Brasil Partners, another joint venture between the companies that operates HBO in Brazil, is unaffected at this time. WarnerMedia and Ole Communications will continue their basic channel distribution business in Latin America. The transaction is expected to be completed following the granting of relevant regulatory approvals. Upon completion, HBO Ole Partners will fall under the purview of Gerhard Zeiler, Chief Revenue Officer, WarnerMedia & President, WarnerMedia International Networks.
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AVLR | Hot Stocks15:03 EDT Avalara says dividend rumor 'false,' working to have removed from sites - In a regulatory filing, Avalara stated: "Avalara would like to correct a false rumor in the market. Unfortunately, third party data providers have incorrectly indicated that the company is paying a dividend. The company is working to have the false information removed from the third party sites."
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PFIN | Hot Stocks14:51 EDT P&F Industries acquires Blaz-Man Gear and Gear Products & Manufacturing - P&F Industries announced that effective today, through a wholly owned subsidiary of Hy-Tech Machine, Inc., it acquired substantially all the assets comprising the businesses of Blaz-Man Gear, Inc. and Gear Products & Manufacturing, Inc., each an Illinois-based corporation that manufactures and distributes custom gears and power transmission gear products. The purchase price consisted of an aggregate of approximately $3.5M in cash and the assumption of certain payables and contractual obligations. In addition, the sellers may be entitled to additional contingent consideration based upon sale of certain categories of acquired inventory during the two-year period following the closing date. Richard Horowitz, P&F's Chairman, President and Chief Executive Officer, stated, "I am extremely pleased to announce the acquisition of both the Blaz-Man and Gear Products businesses. These acquisitions further expand our gear product offerings to a broader range of industries and provides us with expertise to expand into more complex spiral and straight bevel gear design and manufacture. We believe that consolidating the operations of these acquired businesses within Hy-Tech's Quality Gear operations throughout the next twelve months should generate cost reductions and other efficiencies. This transaction is a meaningfully strategic step for the Company, as we continue to expand our offerings in the air tools and related accessories market."
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ETR | Hot Stocks14:32 EDT Entergy raises dividend payment to 93c per share - The board of directors of Entergy has approved a quarterly dividend payment of 93c per share on the company's common stock. The dividend is payable Dec. 2 to shareholders of record as of Nov. 7.
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FCAU | Hot Stocks14:25 EDT Fiat Chrysler recalls 107,898 vehicles in U.S. for coolant leakage - FCA US is voluntarily recalling an estimated 107,898 vehicles in the U.S. to address a potential for coolant leakage. Dealer-service reports and other data streams to monitor the performance of its vehicles in the field prompted an internal investigation that discovered microscopic cracks in some Exhaust Gas Recirculation coolers. If these microscopic cracks are present, coolant may escape and - in rare circumstances - pose an engine fire risk. FCA US is aware of a small number of fires and four minor injuries that occurred when customers attempted to manually extinguish engine compartment fires; the company is unaware of any related accidents. An estimated 50,159 additional vehicles will be subject to recall in Canada, the company noted. Reference Link
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EDNT | Hot Stocks14:22 EDT Columbus Capital reports 9.7% passive stake in Edison Nation - In a regulatory filing, Columbus Capital disclosed a 9.7% stake in Edison Nation, which represents 750,000 restricted shares of common stock. The filing does not allow for activism.
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ATRA | Hot Stocks14:11 EDT Atara Chief Scientific Officer Christopher Haqq leaves company to join Elicio - According to Christopher Haqq's LinkedIn profile, he has left his position as Chief Scientific Officer of Atara Biotherapeutics (ATRA) to become the executive VP, Head of Research and Development of Elicio Therapeutics. Reference Link
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PCG EIX | Hot Stocks13:30 EDT CA Governor declares state of emergency in Sonoma and Los Angeles counties - California Governor Gavin Newsom issued an emergency proclamation for the counties of Sonoma and Los Angeles due to the effects of the Kincade and Tick fires, which have destroyed structures, threatened homes and critical infrastructure, and caused the evacuation of tens of thousands of residents. Yesterday, the Governor announced that the state has secured federal Fire Management Assistance Grants to help ensure the availability of resources to fight the Kincade and Tick fires and enable local, state and tribal agencies to recover eligible costs. Yesterday, the Governor also held a public briefing in Los Angeles "regarding the ongoing fire threats and the need to hold utilities accountable for the consequences of their decisions to shut off power for large portions of the state," the office of the governor announced. California utility operators include PG&E (PCG) and Edison International (EIX).
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BHGE | Hot Stocks13:03 EDT Baker Hughes reports U.S. rig count down 21 to 830 rigs - Baker Hughes reports that the U.S. rig count is down 21 rigs from last week to 830, with oil rigs down 17 to 696, gas rigs down 4 to 133, and miscellaneous rigs unchanged at 1. U.S. Rig Count is down 238 rigs from last year's count of 1,068, with oil rigs down 179, gas rigs down 60, and miscellaneous rigs up 1 to 1. The U.S. Offshore Rig Count is down 1 to 21 and up 2 rigs year-over-year. The Canada Rig Count is up 4 rigs from last week to 147, with oil rigs up 4 to 102 and gas rigs unchanged at 45. The Canada Rig Count is down 53 rigs from last year's count of 200, with oil rigs down 22 and gas rigs down 31.
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BHGE | Hot Stocks13:02 EDT Baker Hughes reports U.S. rig count down 21 to 830 rigs
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ZION | Hot Stocks12:50 EDT Zions Bancorp board approves $275M share repurchase plan - Zions Bancorp's board approved a plan to purchase up to $275M of common shares during Q4. The company also announced that its board declared a regular quarterly dividend of 34c per common share, payable November 21 to shareholders of record on November 14.
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VCRA | Hot Stocks12:00 EDT Vocera falls -22.8% - Vocera is down -22.8%, or -$5.54 to $18.75.
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PCG | Hot Stocks12:00 EDT PG&E falls -24.5% - PG&E is down -24.5%, or -$1.77 to $5.43.
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GVA | Hot Stocks12:00 EDT Granite Construction falls -32.0% - Granite Construction is down -32.0%, or -$11.80 to $25.10.
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RMD | Hot Stocks12:00 EDT ResMed rises 12.6% - ResMed is up 12.6%, or $16.15 to $143.88.
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VIPS | Hot Stocks12:00 EDT Vipshop rises 13.2% - Vipshop is up 13.2%, or $1.32 to $11.37.
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TTM | Hot Stocks12:00 EDT Tata Motors rises 14.1% - Tata Motors is up 14.1%, or $1.31 to $10.58.
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T | Hot Stocks11:28 EDT AT&T agrees to sale-leaseback on wireless towers - AT&T announced that it agreed to a sale-leaseback of its remaining domestic company-owned wireless towers to Peppertree Capital Management. Under the terms of the sale, valued at up to $680M, Peppertree will purchase more than 1,000 AT&T towers, and AT&T will lease back capacity on the towers from Peppertree. The sale is consistent with AT&T's plans to monetize non-strategic assets as it continues to pay down debt. AT&T said, "Given the company's confidence in reaching a net debt-to-adjusted EBITDA ratio in the 2.5x range by the end of this year, shareholders should expect that share buybacks will be in the mix in Q4 of 2019, along with continued de-levering." The transaction is subject to certain closing conditions, including due diligence. AT&T expects to close a substantial number of the towers by the end of the year and the remaining in subsequent closings.
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OIS | Hot Stocks11:16 EDT Oil States sees Q4 Well Site Services revenue $96M-$103M - Sees Q4 Well Site Services revenue $96M-$103M with EBITDA margins to average 15%-16%. Sees Q4 Downhole Technologies revenue declining sequentially to $33M-$39M with EBITDA margins of 9%-11%. Sees Q4 Completion Services revenue $90M-$95M with EBITDA margins to average 16%-17%.
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OIS | Hot Stocks11:14 EDT Oil States sees U.S. onshore businesses negatively impacted by lower rig count
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OIS | Hot Stocks11:08 EDT Oil States sees FY20 CapEx $50M - Sees FY20 depreciation & amortization expense $105M.
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OIS | Hot Stocks11:08 EDT Oil States sees Q4 CapEx $15M, net interest expense $4.6M - Sees Q4 net interest expense $4.6M, depreciation & amortization expense $29M. Sees Q4 CapEx $15M. Comments taken from the Q3 earnings conference call.
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D FSLR | Hot Stocks11:02 EDT Dominion acquires solar generating project from First Solar - Dominion Energy (D) has acquired a solar generating project from First Solar (FSLR). The facility, owned by the company's contracted generation arm, is expected to enter service later this year and provide power and renewable energy attributes under a Dominion Energy South Carolina contract that was previously filed and accepted in South Carolina. Construction on the 72-megawatt solar facility has already begun on about 630 acres of land in Beaufort County, S.C. When it is completed, Seabrook Solar will be one of the largest solar arrays in the Palmetto State. The company's contracted generation business also owns and operates two facilities powered by the sun in Jasper County, S.C. Cayce, S.C.-based Dominion Energy South Carolina, which serves 739,000 electric customer accounts primarily in the Midlands and Low Country, has signed contracts for more than 1,000 megawatts of solar capacity. About half of that capacity has entered service. The utility also serves 384,000 natural gas customer accounts primarily in the Midlands, Low Country and Pee Dee.
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HUBB | Hot Stocks10:36 EDT Hubbell boosts quarterly dividend by 8% to 91c from 84c - The board of Hubbell declared an 8% increase in the common stock dividend rate. The new annual payment of $3.64 per share, or 91c per quarter, compares to the former rate of $3.36 or 84c per quarter. The dividend will be paid on December 16, to shareholders of record on November 29.
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PCG | Hot Stocks10:30 EDT PG&E trading resumes
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PCG | Hot Stocks10:25 EDT PG&E trading halted, volatility trading pause
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AMAG | Hot Stocks10:22 EDT Amag announces publication of PROLONG trial in journal - AMAG Pharmaceuticals announced that the results of the PROLONG trial were published online in the American Journal of Perinatology. As previously announced, the PROLONG trial did not meet the two pre-specified co-primary endpoints of a reduction of preterm birth and a reduction in the neonatal morbidity and mortality index, in contrast to the original Meis trial results published in the New England Journal of Medicine. PROLONG reaffirmed that the 17-OHPC safety profile is comparable to placebo, the company said. The FDA will hold a meeting of the Bone, Reproductive and Urologic Drugs Advisory Committee on October 29 to "better understand and interpret the PROLONG trial data," AMAG added.
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PCG | Hot Stocks10:00 EDT PG&E falls -24.3% - PG&E is down -24.3%, or -$1.75 to $5.45.
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VCRA | Hot Stocks10:00 EDT Vocera falls -25.0% - Vocera is down -25.0%, or -$6.07 to $18.23.
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GVA | Hot Stocks10:00 EDT Granite Construction falls -26.9% - Granite Construction is down -26.9%, or -$9.91 to $26.99.
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FIX | Hot Stocks10:00 EDT Comfort Systems USA rises 9.5% - Comfort Systems USA is up 9.5%, or $4.48 to $51.56.
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ONDK | Hot Stocks10:00 EDT On Deck Capital rises 9.7% - On Deck Capital is up 9.7%, or 41c to $4.62.
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RMD | Hot Stocks10:00 EDT ResMed rises 12.9% - ResMed is up 12.9%, or $16.42 to $144.15.
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TMDI | Hot Stocks10:00 EDT Titan Medical Inc trading resumes
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GVA | Hot Stocks09:47 EDT Granite Construction falls -16.1% - Granite Construction is down -16.1%, or -$5.95 to $30.95.
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PCG | Hot Stocks09:47 EDT PG&E falls -19.4% - PG&E is down -19.4%, or -$1.40 to $5.80.
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VCRA | Hot Stocks09:47 EDT Vocera falls -25.9% - Vocera is down -25.9%, or -$6.29 to $18.00.
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FIX | Hot Stocks09:47 EDT Comfort Systems USA rises 7.5% - Comfort Systems USA is up 7.5%, or $3.53 to $50.61.
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OIS | Hot Stocks09:47 EDT Oil States rises 8.3% - Oil States is up 8.3%, or $1.10 to $14.39.
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JNUG | Hot Stocks09:47 EDT Direxion Daily Jr Gld Mnrs Bull 3X Shrs rises 8.4% - Direxion Daily Jr Gld Mnrs Bull 3X Shrs is up 8.4%, or $5.21 to $67.15.
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NIDB | Hot Stocks09:37 EDT Northeast Indiana Bancorp boosts quarterly cash dividend 8% to 27c per share - The Board of Directors of Northeast Indiana Bancorp,the parent company of First Federal Savings Bank announced the corporation has increased the cash dividend paid to shareholders for the 25th year in a row The cash dividend of 27c per common share represents a 2c per share or 8.0% increase over the company's previous quarterly dividend. President and CEO Michael S. Zahn stated, "We are pleased to reward our shareholders with our 25th consecutive year of increasing our cash dividend. Due to our continued strong financial performance and capital levels, the Board of Directors feels the dividend increase is warranted." The dividend will be payable on November 21 to shareholders of record on November 7. This makes an annualized dividend yield of 2.6% based on a closing price of $41.50 per common share, which was the last reported trade on October 24. The book value of NIDB's stock was $34.28 per common share as of September 30 with 1,206,327 shares outstanding. .
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GLW | Hot Stocks09:32 EDT Corning gets FDA approval of Valor Glass for marketed drug product - Corning announced that a leading pharmaceutical manufacturer has received FDA approval of Corning Valor Glass for use as a primary package for a marketed drug product. Valor Glass has been specifically designed for pharmaceutical applications, and this approval makes Valor Glass the first and only fundamentally new glass composition to be approved by the FDA since the advent of borosilicate glass more than 100 years ago.This innovative glass packaging solution has been designed to enable superior chemical durability and improve resistance to breakage, damage, and particulate contamination. These attributes can help enhance manufacturing productivity by enabling increased throughput and quality assurance for pharmaceutical manufacturers. "We are thrilled to reach this important milestone. This modernization of glass packaging was made possible through our strong customer relationships and our shared passion for life-changing innovations," said Wendell P. Weeks, Corning Incorporated chairman, chief executive officer, and president. "We would also like to recognize the members of the FDA's Emerging Technology Team. Their strong support encourages the development and adoption of innovative technologies like Valor Glass." "We believe that Valor Glass is the future of parenteral glass packaging for manufacturers. This FDA approval is an important first step on our journey to create a new standard in pharmaceutical glass packaging. It's great news for patients, for the industry, and for Corning," added Ronald Verkleeren, vice president and general manager, Corning Pharmaceutical Technologies.
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YMAB | Hot Stocks09:22 EDT Y-mAbs Therapeutics announces clinical update on naxitamab - Y-mAbs Therapeutics announced that a clinical update on one of the Company's lead products, naxitamab for the treatment of neuroblastoma and osteosarcoma, was made at the International Society of Pediatric Oncology Annual Congress held in Lyon, France. Naxitamab is currently being evaluated for the treatment of pediatric patients with relapsed or refractory high-risk neuroblastoma, osteosarcoma and other GD2-positive tumors. An oral presentation was made by Dr. Shakeel Modak, and a total of five poster presentations were made by Dr. Brian H. Kushner and Dr. Filemon Dela Cruz, all from Memorial Sloan Kettering in New York. Data from 28 patients with primary refractory high-risk neuroblastoma in Study 12-230 was presented. This comprises patients refractory to intensive induction therapy, and more than half of such patients also refractory to second line chemotherapy. Essentially, this data relates to a subset of patients from Study 12-230 that demonstrate better than expected outcomes, including a 78% overall response rate. The patients received at least five cycles of therapy post major response and a subset subsequently went on to receive the Company's investigational GD2-GD3 Vaccine at MSK. Overall, in this population a 50% two-year progression free survival was observed. Another subset consisted of 35 patients with relapsed neuroblastoma resistant to salvage therapy, of which 30 patients were evaluable for response in the 12-230 Study. One third of the patients had two or more relapses prior to enrollment and 89% of patients had previously received anti-GD2 therapy. Patients in this subset had a 36% rate of two-year progression-free survival and an overall response rate of 37%, which indicated clinical benefit in this difficult to treat population. Data was also presented for patients with high-risk neuroblastoma in second or later complete remission. 44 patients with no evidence of disease were treated with naxitamab and GM-CSF at MSK as maintenance therapy. In this population, where 88% had previously received an anti-GD2 therapy and 30% had previously received two or more lines of anti-GD2 therapy, a two-year progression-free survival of 52% was observed. Some of these patients went on to receive the Company's investigational GD2-GD3 Vaccine at MSK. Due to the absence of macroscopic evaluable disease, these patients were not evaluable for a formal tumor response grading. Therefore, these patients will not form a part of the Company's efficacy data set for its rolling biologics license application filing currently planned to be initiated in November 2019. Finally, safety data from the Phase II osteosarcoma trial, Study 15-096, for the 25 patients enrolled in the study at MSK was presented. Patients who had recurrent disease and two or more complete remissions were treated with naxitamab and GM-CSF, administered to the patients in an outpatient setting. The Company plans to initiate a multi-center trial in 2020.
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ATVI | Hot Stocks09:12 EDT Activision Blizzard announces Call of Duty: Modern Warfare available worldwide - Call of Duty: Modern Warfare is available worldwide. The game is published by Activision, and developed by Infinity Ward. Activision's thriller unites the Call of Duty community to play together through crossplay and cross progression support, and new post-release content coming free for all players on all platforms. Call of Duty: Modern Warfare features a new engine delivering a photo-realistic experience across the entire game. The new technology utilizes the latest advancements in visual engineering, including a physically-based material system allowing for photogrammetry, a new hybrid tile based streaming system, new PBR decal rendering system, world volumetric lighting, 4K HDR, DirectX Raytracing and more as well as a new GPU geometry pipeline. Spectral rendering delivers thermal heat radiation and infrared identification for both thermal and night-vision in-game imaging. With Modern Warfare as the debut title, the inaugural season of Call of Duty League will kick off home vs. away match play in early 2020. The league includes 12 teams from four countries.
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SELF | Hot Stocks09:10 EDT Global Self Storage announces rights offering - Global Self Storage announced that it intends to conduct a rights offering to eligible stockholders of the company for the purchase of up to approximately $11.6M of newly issued shares of the company's common stock. A record date of November 18, 2019 has been set for the planned rights offering.
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VZ | Hot Stocks09:08 EDT Verizon turns on 5G Ultra Wideband service in Dallas, Omaha - Verizon's 5G Ultra Wideband network is now available in parts of Dallas and Omaha, bringing the total number of Verizon 5G Ultra Wideband mobility service cities to 15. In Dallas, 5G Ultra Wideband service will be concentrated in parts of the following areas: Knox/Henderson, Downtown Dallas, Uptown, Medical Center Area, Deep Ellum; and around such landmarks as Parkland Memorial Hospital, Children's Medical Center, Jade Waters Pool, Dallas Comedy House, The Curtain Club, Dallas Theological Seminary and Turtle Creek Park. In Omaha, 5G Ultra Wideband service will be concentrated in parts of Downtown Omaha around landmarks such as Old Market, Omaha Children's Museum, The Orpheum Theatre, The Durham Museum, Heartland of America Park, Central High School and Creighton University.
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ZGNX | Hot Stocks09:05 EDT Zogenix announces new data for investigational drug Fintepla for seizures - Zogenix announced positive new data for its investigational drug, FINTEPLA, ZX008, fenfluramine, for the treatment of seizures associated with Dravet syndrome. The data were presented in five scientific posters, available here, at the recent Childhood Neurology Society, CNS, Congress. The posters include data showing long-term, clinically meaningful reduction in convulsive seizure frequency in young Dravet syndrome patients, under 6 years of age, in an ongoing Open-Label Extension, OLE, study, as well as data from a post-hoc analysis showing clinically meaningful and profound reduction in the frequency of high-risk tonic-clonic, grand-mal, seizures in Dravet syndrome patients treated in two previously completed Phase 3 clinical trials. Other data include the results of a Phase 1 study to assess the potential drug-drug interaction of fenfluramine and cannabidiol, CBD. "These data continue to demonstrate the significant clinical impact Fintepla has shown in studies of Dravet syndrome patients," said Bradley Galer, M.D., Executive Vice President and Chief Medical Officer at Zogenix. "These new results clearly show the impact this drug candidate has had on some of the most vulnerable patients, those who are younger than 6 years of age, as well as those suffering from generalized tonic-clonic seizures, a recognized risk factor for sudden unexplained death in epilepsy, SUDEP."
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VZ | Hot Stocks09:03 EDT Verizon says remains 'disciplined' in approach to capital allocation - Says: Three priorities for capital are 1) Invest in the business... 2) Maintain the dividend... 3) Manage the balance sheet...Don't expect debt leverage ratio to go below 1.75... New plans will eventually include higher 5G prices... Disney+free offer should increase unlimited signups... Seeing "great momentum" in Wireless customer gains so far in Q4.... "Nothing major" immediately ahead for M&A.
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AMZN... | Hot Stocks09:03 EDT Fly Intel: Pre-market Movers - UP AFTER EARNINGS: Verizon (VZ), up 1%... Charter (CHTR), up 6%... Goodyear Tire (GT), up 1%... Mohawk (MHK), up 4%... Intel (INTC), up 3%. ALSO HIGHER: KKR Real Estate Finance Trust (KREF), up 6% after being selected to enter the S&P SmallCap600. DOWN AFTER EARNINGS: Amazon (AMZN), down 6%... AB InBev (BUD), down 8%... VF Corp. (VFC), down 4%... Universal Health (UHS), down 5%... Weyerhaeuser (WY), down 5%. ALSO LOWER: BeyondSpring (BYSI), down 20% after its 1.85M share spot secondary offering priced at $13.50.
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FCCO | Hot Stocks09:02 EDT First Community CFO Joseph Sawyer retiring December 31, Donald Jordan succeeds - First Community CFO Joseph Sawyer will retire on December 31. Donald Jordan has been selected as new CFO and will assume this position upon the retirement of Sawyer. Jordan has held leadership and executive positions with public and private financial institutions including local, regional and national organizations. Jordan's most recent role was with Iberiabank, a $32B asset institution where he served as Senior Vice President and Manager of Corporate Analytics. Jordan will join the company on November 12 to provide time with Sawyer and ensure a smooth transition.
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CVRS | Hot Stocks08:57 EDT Corindus holders approve acquisition by Siemens Healthineers - At a special meeting, stockholders of Corindus Vascular Robotics approved the adoption of the Agreement and Plan of Merger, dated as of August 7, by and among Siemens Medical Solutions USA, or SMS USA, Corpus Merger and Corindus. Subject to the terms and conditions of the Merger Agreement, Merger Sub, a wholly owned subsidiary of SMS USA, will be merged with and into Corindus, with Corindus surviving the merger as a wholly owned subsidiary of SMS USA. The company's stockholders also approved the proposal to approve, on an advisory basis, specified compensation payable to the company's named executive officers in connection with the merger. The parties anticipate that the transaction will close on October 29, 2019, and the parties intend that promptly thereafter Corindus will be delisted from the NYSE American. At the closing of the merger, the company's stockholders will receive: $4.28 in cash, without interest, subject to any applicable withholding taxes, for each share of common stock of Corindus; and $85.60 in cash, without interest, subject to any applicable withholding taxes, for each share of Series A Convertible Preferred Stock of Corindus and for each share of Series A-1 Convertible Preferred Stock of Corindus, that they own immediately prior to the effective time of the merger.
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TMDI | Hot Stocks08:51 EDT Titan Medical Inc trading halted, news pending
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VFC | Hot Stocks08:44 EDT VF Corp. sees FY20 Vans revenue up 13%-14% - Sees FY20 North Face revenue up 9%-10%. Sees FY20 Timberland revenue up 1%-2%. Sees FY20 Dickies revenue up 5%-6%. Sees FY20 outdoor segment revenue up 6%-7%. Sees FY20 active segment revenue up 11%-12%. Sees FY20 work segment revenue up 4%-5%. Comments taken from Q2 earnings conference call.
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CPST | Hot Stocks08:41 EDT Capstone Turbine secures initial flare gas pilot project in France - Capstone Turbine announced that it secured an initial order for six C65 microturbines for a critical flare gas pilot project in France. Microturbine Power, one of Capstone's exclusive European distributors, secured the initial project, which is set to be commissioned by January 2020. The six microturbine array will provide on-site power for one of Europe's largest energy producers, utilizing the associated gas generated by one of the firm's Electrical Submersible Pump's located at the wellhead, Capstone said in a statement. The microturbines will utilize the indigenous free waste fuel to reduce the purchased power from the local utility.
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ZLAB MGNX | Hot Stocks08:40 EDT Zai Lab says MacroGenics doses first patient in Phase 2/3 MAHOGANY study - Zai Lab Limited (ZLAB) announced that its partner MacroGenics (MGNX) has dosed the first patient in the Phase 2/3 MAHOGANY clinical trial of margetuximab, an investigational, Fc-optimized monoclonal antibody targeting HER2, in combination with a checkpoint inhibitor, with or without chemotherapy, as a potential first-line treatment for patients with HER2-positive gastric cancer or gastroesophageal junction cancer. The Phase 2/3 clinical trial is planned to be conducted at clinical sites globally, in collaboration with Zai Lab, the regional partner in Greater China. Zai Lab will lead clinical development in its territory by leveraging its regulatory and clinical development expertise and broad regional network of investigators to maximize potential clinical benefit in gastric cancer, the fifth most common cancer in the world and the second most common cancer in China. Based on Cancer Statistics in China 2015, the annual incidence for gastric cancer is approximately 680,000 in China.
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VLY ORIT | Hot Stocks08:38 EDT Valley National receives application waiver for acquisition of Oritani Financial - Valley National Bancorp (VLY) announced it received notice from the Board of Governors of the Federal Reserve System that it waived the requirement for a bank merger application for the previously announced merger of Oritani Financial Corp. (ORIT) with and into Valley. In conjunction with the previously announced approval from the Office of the Comptroller of the Currency, Valley has obtained the requisite regulatory approvals to complete the Proposed Transaction. The Proposed Transaction remains subject to other customary closing conditions, including approval by the shareholders of both Valley and Oritani. Valley and Oritani will hold their respective shareholder meetings on November 14, 2019 to vote on the Proposed Transaction. If shareholders approve, Valley and Oritani expect to close the Proposed Transaction in the fourth quarter of 2019. The combined company is expected to have approximately $38B in assets, $30B in loans, $29B in deposits, and 245 branches across New Jersey, New York, Florida, and Alabama.
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GLP | Hot Stocks08:36 EDT Global Partners increases Q3 distribution to 52c per unit - Global Partners announced that the board of its general partner has declared a quarterly cash distribution of 52c per unit on all of its outstanding common units for the period from July 1 to September 30. The distribution will be paid November 14 to unitholders of record as of the close of business on November 8, 2019.
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ALIM | Hot Stocks08:36 EDT Alimera Sciences announces $20M equity purchase pact with Lincoln Park Capital - Alimera Sciences announces that it has entered into a $2M common stock purchase agreement with Lincoln Park Capital Fund, a Chicago-based institutional investor. Upon entering into the agreement, LPC purchased $1M of Alimera's registered common stock at 50c per share, which represents a 35% premium to the closing market price of the stock on October 24, 2019. Thereafter and upon satisfaction of the conditions in the agreement, Alimera, from time to time over a 36-month period, will have the right, in its sole discretion, to sell up to an additional $19.0 million of its common stock to LPC. Alimera will control the timing and amount of any future sale of shares of common stock to LPC, and LPC is obligated to make purchases according to Alimera's direction, as governed by the agreement. There are no upper limits to the price per share LPC may pay to purchase common stock from Alimera, and the purchase price of the shares will be based on the prevailing market prices of Alimera's common shares at the time of each sale to LPC.
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ABTX | Hot Stocks08:34 EDT Allegiance Bancshares appoints Steven Retzloff as CEO to succeed George Martinez - Allegiance Bancshares announced a plan of succession in which Steven Retzloff, the current president of Allegiance, will be promoted to CEO, effective January 1, 2020, succeeding George Martinez in the role. Retzloff will continue to serve as the executive Chairman of Allegiance Bank. Martinez will continue to serve as Chairman of Allegiance's Board of Directors in 2020. In addition, Martinez will retire as CEO of the Bank and assume the role of Vice Chairman of the Bank on January 1, 2020. As part of the succession plan, Ramon Vitulli, III will be promoted from EVP to President of Allegiance, succeeding Retzloff, effective January 1, 2020. In addition, effective January 1, 2020, Vitulli will be promoted from president and COO to CEO of the Bank. Okan Akin, EVP and CRO of Allegiance and the Bank, will succeed Vitulli in the office of president of the Bank effective January 1, 2020, serving as both president and CRO. Akin will continue to serve as EVP and CRO of Allegiance.
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FIXX | Hot Stocks08:33 EDT Homology Medicines presents investigational PKU gene editing program data - Homology Medicines announced the oral presentation of preclinical data related to its nuclease-free, homologous recombination-based, in vivo gene editing program for phenylketonuria , PKU, at the European Society of Gene & Cell Therapy,ESGCT, 27th Annual Congress. Homology also presented preclinical data that showed the effect of full and empty capsids on in vivo efficacy with Homology's adeno-associated virus vectors derived from human hematopoietic stem cells, AAVHSCs, including its investigational phenylketonuria, PKU, gene therapy candidate HMI-102, and comparisons to an AAV5 PKU gene therapy vector. "The ability of AAVs to induce nuclease-free gene editing through homologous recombination has been established for decades, and here we presented data showing that our AAVHSCs induced in vivo targeted gene insertion into genomes using this natural DNA repair pathway in humanized and PKU murine models," stated Albert Seymour, Ph.D., Chief Scientific Officer of Homology Medicines. "Importantly, the in vivo gene insertion was characterized and confirmed at the DNA level, demonstrating the efficiency and precision of editing supporting our PKU gene editing program."
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MPLX | Hot Stocks08:32 EDT MPLX raises quarterly distribution 1.5% to 67.75c per share - MPLX has declared a quarterly cash distribution of 67.75c per common unit for Q3, or $2.71 on an annualized basis. This represents an increase of 1c per unit, or 1.5%, over the Q2 distribution, and an increase of 4c per unit, or 6.3%, over the 3Q18 distribution. This distribution will be paid on Nov. 14 to common unitholders of record as of Nov. 4.
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VZ | Hot Stocks08:27 EDT Verizon says sees Q4 Wireless service revenue growth approximately 3%-3.5% - Says: Media Group gaining momentum in key areas.
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TLRY | Hot Stocks08:20 EDT Tilray imported medical cannabis into U.S. for breast cancer clinical trial - Tilray yesterday morning announced it has successfully imported medical cannabis into the United States from Canada in support of a new clinical trial. The study will test the efficacy of medical cannabis in treating patients with breast cancer who are suffering from taxane-induced peripheral neuropathy secondary to treatment with paclitaxel or docetaxel. This clinical trial is the first human study testing the effectiveness of medical cannabis to treat TIPN, the company said. "We're excited to support this groundbreaking, first-of-its-kind trial seeking to find a new treatment option for TIPN," says Philippe Lucas, Tilray's Vice President of Global Patient Research and Access. "Tilray is committed to advancing cannabis research through its support of clinical trials around the world as we continue to enhance our understanding of the potential benefits of medical cannabis." Tilray shares closed Thursday up 8%, or $1.75, to $24.38.
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GT | Hot Stocks08:18 EDT Goodyear Tire CEO says 'softer' industry conditions in Europe - "In the Americas, we saw continued strength in our U.S. consumer replacement business and solid growth in Brazil, giving us positive momentum in these important markets as we head into the final months of the year," said Richard Kramer, chairman, CEO and president. "Our Asia Pacific business improved in the quarter as we benefitted from the launch of several new OE fitments in China, which helped mitigate the impact of lower auto production. This is a testament to the strength of our technology and our success winning fitments on the right platforms," he added. "Industry conditions were softer than we anticipated in Europe and we continued to see an adverse impact from lack of alignment in our distribution channels. In response, we expect to accelerate our plans to rationalize distribution in the region. These actions, which will begin early next year, should improve the focus on our brands and ensure that we capture the full benefits of the investments we are making to increase the supply of premium, high margin tires over the next few years," said Kramer.
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GT | Hot Stocks08:16 EDT Goodyear Tire reports Q3 tire unit volumes 40.3M, down 1% y/y - Tire unit volumes totaled 40.3M, down 1% from 2018. Original equipment unit volume decreased 5%, driven by lower global vehicle production. Replacement tire shipments increased 1%.
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MARA | Hot Stocks08:14 EDT Marathon Patent Group begins deployment of 6,000 S-9 Bitmain Antminers - Marathon Patent Group announced the company has begun to deploy its recently acquired 6,000 S-9 Bitmain Antminers. he first Miners are being installed under a hosting agreement with Compute North at its new 100MW site in Nebraska. The Company selected Compute North because of its strategically located facilities which provide lower cost renewable energy with a high level of reliability and security. Marathon made the decision to relocate the Miners from the company's facility in Granby, Quebec in order to reduce the operating costs by approximately $60,000 per month for the 1,200 miners that were operating. The company expects to have 3,500 Miners installed over the next two weeks and the remaining 3,700 Miners installed by December 15, 2019. Once the full deployment is completed, Marathon will have 7,200 miners in production and will increase the current HashRate production level from 14 PH/s to approximately 100 PH/s, making Marathon one of the largest publicly traded Bitcoin Mining companies in North America.
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VZ | Hot Stocks08:12 EDT Verizon says made 'lots of progress' on overall strategy in Q3 - Says: Making significant progress with network... Engaging much more with large enterprises... Verizon Media Group executing on strategy "in a very good way." Comments taken from Q3 earnings conference call.
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KTOS | Hot Stocks08:09 EDT Kratos Defense gets $5.1M in C5ISR program production awards - Kratos Defense & Security Solutions announced that it has recently received $5.1M in Command, Control, Communication, Computing, Combat, Intelligence, Surveillance and Reconnaissance System, C5ISR, program related production awards. Kratos is a leading provider of products in support of C5ISR programs and systems including, unmanned systems, missile defense, high power directed energy, radar, and surface combatants. Contract awards will be performed at secure Kratos manufacturing facilities. Due to customer related, competitive and other considerations, no additional information will be provided related to these contract awards. Tom Mills, President of Kratos C5ISR Modular Systems Division, said, "The recapitalization of strategic weapon systems is providing our business numerous large opportunities, and our current opportunity pipeline is extremely sound and growing, including new large programs of record. These recent contract awards are representative of our unique capabilities to support leading C5ISR programs for our customers."
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OPTT | Hot Stocks08:07 EDT Ocean Power in $10M stock purchase pact with Aspire Capital Fund - Ocean Power Technologies announced it has executed a new Common Stock Purchase Agreemen with Aspire Capital Fund to sell up to $10M in common stock to Aspire Capital over a term of 30 months. Proceeds will be used by OPT to build additional PB3 PowerBuoys to meet potential market demand, to further advance the development of new products, and for other general corporate purposes. "We are excited to renew our partnership with Aspire Capital and the flexibility to potentially access capital on a cost-effective basis," said George H. Kirby, President and Chief Executive Officer of Ocean Power Technologies. "By focusing on lowering costs to obtain working capital, we believe this agreement allows the Company to receive a higher value return for funding to meet our projected sales growth and our continued innovations in providing ocean power."
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SOLY | Hot Stocks08:06 EDT Soliton reports clinical trial results for scar volume reduction treatment - Soliton released interim clinical trial results presented at the American Society for Dermatologic Surgery Annual Meeting. During the keloid and hypertrophic scar proof-of-concept trial, Soliton treated 10 people, each of whom received just a single 6-minute treatment with our Rapid Acoustic Pulse device. There was an average reduction in volume of over 27%, and a reduction in height of almost 17% for the nine patients. There were no treatment-related adverse events of any kind and patients reported little pain from the treatment, so with the primary endpoint of this study being to establish safety and tolerability of RAP for this indication, Soliton believes tey are on their way to meeting that endpoint. Grand View Research estimates the global market for keloid and hypertrophic scars may reach $10.2B by 2025. There are few treatment options available for fibrotic scars.t be a permanent solution.
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ABMD | Hot Stocks08:06 EDT Abiomed announces reults from two years of outcomes data on Impella RP - Nearly two years of real-world outcomes data on Abiomed's Impella RP heart pump shows that when physicians followed the FDA's approved protocol for Impella RP use they achieved 72% patient survival and 88% native heart recovery. These results, from the Impella RP's post-approval study, match the survival rate in the Impella RP's pre-approval study. The protocol includes recommendations on patient selection and timely identification of right heart failure with subsequent implantation of Impella RP. The new data is detailed in the accompanying chart and is being presented today at a clinical meeting in Detroit for the management of patients in cardiogenic shock, led by the National Cardiogenic Shock Initiative, or NCSI, study principal investigators. The FDA has confirmed the classification of Impella RP post-approval study patients into two categories: Recover Right protocol and salvage support. The Recover Right category includes patients who met the inclusion and exclusion criteria of the Recover Right FDA PMA clinical trial for Impella RP. The FDA recognizes salvage patients as those outside the Recover Right protocol. The baseline characteristics of the two populations are different with higher mortality in the salvage group. Salvage patients are some of the sickest patients in the hospital and many have suffered out-of-hospital cardiac arrest or may have been transferred to multiple hospitals before receiving Impella RP. The FDA and Abiomed believe that physicians should have the ability to attempt lifesaving recovery measures on these salvage patients based on their best judgement but emphasize that earlier recognition and treatment is associated with markedly better survival. In a letter to health care providers on May 21, the FDA noted the importance of proper patient selection and timing of Impella RP insertion. The FDA wrote, "Patients who would not have qualified for the premarket clinical studies were more likely to have been in cardiogenic shock for longer than 48 hours, experienced a cardiac arrest, or suffered a pre-implant hypoxic or ischemic neurologic event before getting the Impella RP system implanted compared to the PAS patients who would have met the enrollment criteria for the premarket clinical studies."
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SIMO | Hot Stocks08:04 EDT Silicon Motion announces annual cash dividend boost of 17% to $1.40 per ADS - Silicon Motion Technology announces its annual cash dividend of $1.40 per ADS, a 17% increase from the $1.20 per ADS declared last year.
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SATS | Hot Stocks08:02 EDT EchoStar acquires Helios Wire in Canada - EchoStar's subsidiary EchoStar Global has acquired Helios Wire, a satellite-enabled IoT connectivity company headquartered in Vancouver, Canada. The acquisition includes Helios' Australian subsidiaries Sirion Holdings and Sirion Global. Sirion Global holds global spectrum rights for S-band Mobile Satellite Service, administered by Australia, and has been working to develop solutions for high volume asset tracking and monitoring applications by satellite. "This acquisition advances our strategy and further lays the foundation for a global S-band solution for the future," said Anders Johnson, Chief Strategy Officer, EchoStar. "Our aim is to develop S-band technologies that will dramatically reduce the cost of satellite IoT, including machine-to-machine communications, public protection and disaster relief and other end-to-end services worldwide."
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AKAM | Hot Stocks08:01 EDT Akamai names Anthony Williams as Chief Human Resources Officer - Akamai announces a planned leadership transition within the company's human resources organization. Anthony Williams, current vice president of global talent acquisition and diversity, will succeed James Gemmell as chief human resources officer, effective January 1, 2020. After a successful 35-year career and nearly seven years at Akamai, Gemmell has decided to retire.
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FRO | Hot Stocks07:40 EDT Frontline notes FMSI, Clean Marine enter into term sheet for combination - Frontline refers to the announcement made to Clean Marine AS where FMSI and Clean Marine AS have entered into a term sheet pursuant to which the entities will effect a business combination to create a leading provider of exhaust gas cleaning systems. The combined entity, which will operate under the name Clean Marine, will provide a fully integrated offering, including OEM expertise, significant capacity, fast production times, project management and global after-sales services as well as offer financing arrangements for its customers. Following the transaction, Frontline will own a 14.45% interest in the combined company.
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MGNX | Hot Stocks07:34 EDT MacroGenics says first patient dosed in study of margetuximab in gastric cancer - MacroGenics announced that the first patient has been dosed in the Phase 2/3 MAHOGANY clinical trial of margetuximab, an investigational, Fc-optimized monoclonal antibody targeting HER2, in combination with a checkpoint inhibitor, with or without chemotherapy, as a potential first-line treatment for patients with HER2-positive gastric cancer, GC, or gastroesophageal junction, GEJ, cancer. "The MAHOGANY study for patients with gastric or gastroesophageal junction cancer is designed to support registration of margetuximab and is a part of our strategy to advance margetuximab in HER2-positive cancers," said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. "The combination of margetuximab and a checkpoint inhibitor could potentially provide a chemotherapy-free option as a first-line treatment for patients whose tumors are positive for both HER2 and PD-L1 or be used with chemotherapy in a broader HER2-positive population to improve the clinical activity of existing standard of care."
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ACRGF | Hot Stocks07:33 EDT Acreage Holdings, GreenAcreage announce over $70M sale-leaseback transactions - Acreage Holdings and GreenAcreage Real Estate announced the closing of a series of sale-and-leaseback transactions for the sale of certain properties and facilities from Acreage Holdings to GreenAcreage for an aggregate of approximately $18M to Acreage Holdings and approximately $23M overall including payments to a third-party seller. The locations funded and closed today include facilities in Massachusetts, Florida and Pennsylvania. Acreage Holdings and GreenAcreage expect to close on additional facilities in Illinois and Connecticut within the next thirty days. Acreage Holdings is expected to undertake significant expansion at the properties sold and additional properties to be closed upon. GreenAcreage has committed to provide up to approximately $43.9M in additional financing in commitments or funding related to properties in Florida and Illinois. Assuming full utilization of this expansion financing, GreenAcreage's total investment in the properties will be approximately $77.3M, with $72.3M specifically allocated to Acreage Holdings. Concurrent with the closings, Acreage Holdings entered into long-term, triple-net lease agreements with GreenAcreage and will continue to operate the properties as licensed cannabis facilities.
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NCNA | Hot Stocks07:20 EDT FDA clears NuCana's IND for study of Acelarin in combination with cisplatin - NuCana announced that the US Food and Drug Administration, FDA, has cleared the Investigational New Drug Application or IND, for its Phase III study, NuTide:121, of the investigational drug Acelarin in combination with cisplatin for patients with previously untreated locally advanced or metastatic biliary tract cancer. "We are pleased to have received clearance of our IND from the FDA," said Hugh S. Griffith, NuCana's Founder and Chief Executive Officer. "We are also excited by NuTide:121's potential, if successful, to support both accelerated and full approval. Regulatory clearance to begin the study in other countries has also been received and we look forward to enrolling the first patients in the coming weeks." Griffith continued: "We believe our investigational drug product Acelarin in combination with cisplatin has the potential to significantly improve the survival outcomes of patients with advanced biliary tract cancer. In the Phase Ib ABC-08 study, we observed an approximate doubling of the response rate with Acelarin plus cisplatin compared to previously reported data for gemcitabine plus cisplatin. Our goal is to establish Acelarin in combination with cisplatin as the global standard of care for the first-line treatment of patients with advanced biliary tract cancer, if Acelarin is approved for marketing."
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ANIX | Hot Stocks07:10 EDT Anixa Biosciences collaborating with Urology San Antonio on Cchek - Anixa Biosciences is collaborating with Urology San Antonio, PA in Anixa's ongoing Cchek prostate cancer study. Cchek is an early cancer detection technology, which measures a patient's immunological response to a malignancy by analyzing immune system cells in peripheral blood. The goal is to utilize the technology to determine a patient's cancer status from a simple blood draw, eliminating the need for a biopsy. The cancer detection performance of Cchek makes it a platform from which multiple cancer diagnostic tests may be developed. The first such test, a prostate cancer confirmation test, is slated for commercial launch by the end of 2019. Urology San Antonio, PA, established in 1996, is the largest urology practice in South Texas with thirty physicians and over 270 employees at seven urology clinics.
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FFIC | Hot Stocks07:10 EDT Flushing Financial to acquire Empire Bancorp for $111.6M - Flushing Financial Corporation and Empire Bancorp announced that they have entered into a definitive merger agreement for Flushing to acquire Empire in a transaction valued at an estimated $111.6M, based on Flushing's closing stock price on October 24, 2019. Under the terms of the merger agreement, each share of Empire common stock will be exchanged for either 0.6548 shares of Flushing common stock or $14.04 in cash, based upon the election of each Empire shareholder, subject to the election and proration procedures specified in the merger agreement. In connection with the transaction, Empire National Bank will merge with and into Flushing Bank, with Flushing Bank as the surviving entity. The transaction value represents 1.4x Empire's tangible book value and a 3.6% deposit premium based on June 30, 2019 financial information. On a combined basis, the transaction is expected to be accretive to earnings by 19% in 2021, but will be dilutive to tangible book value by 7.0% at closing with a projected earn-back period of 3.2 years using the cross-over method. Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals and the approval of Empire's shareholders. The combined company at close is expected to have approximately $8B in assets, $6.3B in loans, $5.8B in deposits, and 23 branches in Queens, Brooklyn, Manhattan, and on Long Island.
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VFC | Hot Stocks07:08 EDT VF Corp. reports Q2 adjusted gross margin 53.1% - Gross margin from continuing operations increased 90 basis points to 52.9%; on an adjusted basis, gross margin increased 90 basis points to 53.1%.
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VZ | Hot Stocks07:07 EDT Verizon reports Q3 retail postpaid net adds of 601K - Reports 601,000 retail postpaid net additions, including 444,000 phone net additions, an increase from 295,000 phone net additions in third-quarter 2018, and 615,000 postpaid smartphone net additions, an increase from 510,000 postpaid smartphone net additions in third-quarter 2018. This growth was driven by a 10 percent year over year increase in phone gross additions. Total retail postpaid churn of 1.09 percent, and retail postpaid phone churn of 0.82 percent. Reports 36,000 Fios Internet net additions; Fios total revenue growth of 2.3 percent year over year.
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VFC | Hot Stocks07:06 EDT VF Corp. CEO says 'confident in the trajectory of our business' - "We're pleased with the strength of our second quarter and first half results, driven by our two largest brands and our international and direct-to-consumer platforms," said Steve Rendle, Chairman, President and CEO. "The quality and fundamentals of our business remain solid as a result of the focus and strategic execution of our business teams around the globe. Despite an increasingly uncertain geopolitical and macroeconomic environment, we are confident in the trajectory of our business as we move into the second half of our fiscal year, as reaffirmed by our outlook. We remain deeply committed to transforming VF into a more consumer-minded and retail-centric organization while delivering superior returns to shareholders."
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CHOOF WMT | Hot Stocks07:05 EDT Choom Holdings names Corey Gillon as CEO - Choom (CHOOF) is very pleased to announce the appointment of Corey Gillon as the company's new CEO effective Monday, December 1, and subject to provincial regulatory approvals. In addition to his executive management role, Corey will be appointed to the Board of Directors effective December 1. Chris Bogart, Choom's current CEO, will assume the role of President. The strengthening of Choom's senior management team is a major component of the company's strategic initiative to become a nation-wide cannabis retail organization. Gillon has held executive leadership roles with world class retailers where he established and implemented customer-focused corporate strategies. During Gillon's 18-year tenure at Walmart (WMT), he held senior leadership roles both domestically and internationally, and led multi-billion dollar business units of over 100 stores and up to 22,000 associates.
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VZ | Hot Stocks07:03 EDT Verizon CEO says 'focused on our 5G rollout strategy' - "Verizon continued its momentum in the third quarter by driving strong wireless volumes in both our Consumer and Business segments, while delivering solid financial results, highlighted by continued wireless service revenue growth, increased cash flow, and EPS growth," said Chairman and CEO Hans Vestberg. "We are focused on our 5G rollout strategy, looking to deploy next-generation networks while enhancing our industry-leading 4G LTE network. Going into the fourth quarter, we are energized by the strong performance of the business and we are confident in our strategy to drive value for our customers and growth for our shareholders."
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CHTR | Hot Stocks07:03 EDT Charter reports Q3 total residential and SMB customer relationships up 310,000 - Third quarter total residential and SMB customer relationships increased 310,000, compared to 234,000 during the third quarter of 2018. As of September 30, 2019, Charter had 29.0 million total customer relationships, and added over 1.1M net new customer relationships over the last twelve months. During the third quarter, Charter generated residential and SMB Internet net additions of 380,000, video net losses of 75,000 and wireline voice net losses of 190,000. Charter added 276,000 mobile lines in the third quarter, compared to 208,000 mobile line net additions in the second quarter of 2019. As of September 30, Charter served a total of 794,000 mobile lines.
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AUG | Hot Stocks07:03 EDT Auryn Resources drills gold-bearing hydrothermal system at Committee Bay - Auryn Resources announced results from the seven-hole, 2,700 meter summer drill program at Committee Bay. The company drilled a new gold-bearing hydrothermal system and made significant progress in geophysical targeting. At the Shamrock target Auryn intersected 30 meters of 0.67 g/t gold, including 1.5 m of 5.03 g/t gold, which is characterized by quartz veining within gabbroic rocks. The Shamrock target is located 2.5 kilometers to the southwest of the Aiviq target where the company drilled 10.5 meters of 1.22 g/t gold this summer. Ivan Bebek, Executive Chairman & Director, said: "Although this was a modest program, the outcomes were significant. We drilled a new gold-bearing system along the regional fault zone that hosts the Aiviq and Kalulik systems. In addition, through the use of geophysics the technical team has made an important leap in their understanding of targeting high-grade mineralization on the 300 km belt."
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INTC | Hot Stocks07:01 EDT Intel approves $20B increase in stock repurchase program - Last night, with its earnings report, Intel announced its board of directors has approved a $20B increase in its stock repurchase program authorization. In the third quarter, the company generated approximately $10.7B in cash from operations, paid dividends of $1.4B and used $4.5B to repurchase 92M shares of stock.
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VFC | Hot Stocks06:59 EDT VF Corp. backs FY20 adjusted cash flow from operations at least $1.3B - For FY20: Adjusted gross margin is still expected to be 54.1%, which represents an estimated increase of 80 basis points. Adjusted operating margin is still expected to be 13.8%, which represents an estimated increase of approximately 90 basis points. Other full year assumptions include an effective tax rate of approximately 15%-15.5% and capital expenditures of approximately $400M.
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VFC | Hot Stocks06:57 EDT VF Corp. raises quarterly dividend 12% to 48c per share - The dividend will be payable on December 20 to shareholders of record on December 10.
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WU | Hot Stocks06:46 EDT Western Union expands cross border payments to India - Western Union advanced its leadership in digital payment innovation enabling customers to move money or make payments in real-time in India, one of the world's fastest growing economy. Western Union became the first money transfer operator to offer cross border remittances via Unified Payments Interface, a real-time payment system developed by the National Payments Corporation of India under Reserve Bank of India guidelines. It allows Western Union customers globally to send money into bank accounts in India simply by using the receivers UPI ID, instead of providing bank account and routing details.
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GRC | Hot Stocks06:46 EDT Gorman-Rupp increases quarterly cash dividend 7.4% to 14.5c - Gorman-Rupp has declared a quarterly cash dividend of 14.5c per share on the common stock of the company, payable December 10 to shareholders of record November 15. The cash dividend will represent a 7.4% increase over the 13.5c dividend paid in the previous quarter.
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BCS | Hot Stocks06:43 EDT Barclays continues to target 2019 RoTE of greater than 9% - The Group continues to target a greater than 9% RoTE for 2019 and greater than 10% for 2020.. However, given global macroeconomic uncertainty and the current low interest rate environment, it has become more challenging to achieve these targets, particularly with respect to 2020.
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BUD | Hot Stocks06:37 EDT AB InBev continues to see 'strong' revenue growth in FY19 - AB InBev said: "In FY19, we continue to expect to deliver strong revenue growth, driven by the solid performance of our brand portfolio and strong commercial plans. In markets with softer macroeconomic conditions, we are accelerating our smart affordability efforts with initiatives that have lower revenue per hl but offer incremental profit. As a result, FY19 revenue per hl growth should now be slightly below inflation. We continue to expect a more balanced top-line growth between volumes and revenue per hl and for our total costs to grow below inflation. Overall, we remain confident in our strategy and the fundamental strength of our business, though we now expect moderate EBITDA growth in FY19 given the additional headwinds faced in 3Q19 which we anticipate will continue into 4Q19. We continue to expect CoS per hl to increase by mid-single digits, with currency and commodity headwinds to be offset by cost management initiatives. We have completed our 3.2 billion USD synergy and cost savings program on a constant currency basis as of August 2016. We expect the normalized ETR in FY19 to be in the range of 25% to 27%, excluding any gains and losses relating to the hedging of our share-based payment programs. We expect net capital expenditure of between 4.0 and 4.5 billion USD in FY19. We expect dividends to be a growing flow over time, although growth in the short term is expected to be modest given our deleveraging commitments."
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FB | Hot Stocks06:16 EDT Facebook unveils Facebook News in the U.S. - Campbell Brown, VP, Global News Partnerships and Mona Sarantakos, Product Manager, News, said in a blog post: "Today we're starting to test Facebook News, a dedicated place for news on Facebook, to a subset of people in the US. News gives people more control over the stories they see, and the ability to explore a wider range of their news interests, directly within the Facebook app. It also highlights the most relevant national stories of the day. News articles will continue to appear in News Feed as they do today. s we talked to people and publishers, we identified key features to help make Facebook News valuable: Today's Stories chosen by a team of journalists to catch you up on the news throughout the day Personalization based on the news you read, share and follow, so you can find new interests and topics and Facebook News is fresh and interesting every time you open it; Topic sections to dive deeper into business, entertainment, health, science & tech, and sports; Your Subscriptions, a section for people who have linked their paid news subscriptions to their Facebook account; Controls to hide articles, topics and publishers you don't want to see. Facebook News will feature a wide range of content across four categories of publishers: general, topical, diverse and local news." Reference Link
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TSLA | Hot Stocks06:12 EDT Ron Baron says he's sold none of his Tesla position - Founder of Baron Capital Ron Baron is speaking on CNBC.
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PODD NVO | Hot Stocks06:02 EDT Insulet announces FDA clearance for use of Fiasp - Insulet (PODD) announced FDA clearance for use of Fiasp with the Omnipod Insulin Management System and the Omnipod DASH Insulin Management System for adults. Fiasp is a new-generation, ultra fast-acting insulin developed by Novo Nordisk (NVO) that enters the bloodstream two times faster than Novo Nordisk's NovoLog, so it more closely matches a body's typical insulin response to a meal, thereby improving glycemic control. As a result, Fiasp is the first and only fast-acting mealtime insulin injection that does not have a pre-meal dosing recommendation. Insulet completed extensive testing, with the support of Novo Nordisk, to demonstrate that Fiasp is safe and can be used with both the Omnipod System, as well as the Omnipod DASH Insulin Management System. Insulet is the first insulin pump in the United States to obtain this indication. The Omnipod Insulin Management System has been indicated for use with Fiasp in Europe since October 2018.
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BA | Hot Stocks05:50 EDT Boeing issues statement on Lion Air Flight 610 investigation final report - Boeing issued the following statement regarding the release today of the final investigation report of Lion Air Flight 610 by Indonesia's National Transportation Safety Committee, or KNKT: "On behalf of everyone at Boeing, I want to convey our heartfelt condolences to the families and loved ones of those who lost their lives in these accidents. We mourn with Lion Air, and we would like to express our deepest sympathies to the Lion Air family," said Boeing President & CEO Dennis Muilenburg. "These tragic events have deeply affected us all and we will always remember what happened. We commend Indonesia's National Transportation Safety Committee for its extensive efforts to determine the facts of this accident, the contributing factors to its cause and recommendations aimed toward our common goal that this never happens again. We are addressing the KNKT's safety recommendations, and taking actions to enhance the safety of the 737 MAX to prevent the flight control conditions that occurred in this accident from ever happening again. Safety is an enduring value for everyone at Boeing and the safety of the flying public, our customers, and the crews aboard our airplanes is always our top priority. We value our long-standing partnership with Lion Air and we look forward to continuing to work together in the future. Boeing experts, working as technical advisors to the U.S. National Transportation Safety Board, have supported the KNKT over the course of the investigation. The company's engineers have been working with the US Federal Aviation Administration and other global regulators to make software updates and other changes, taking into account the information from the KNKT's investigation. Since this accident, the 737 MAX and its software are undergoing an unprecedented level of global regulatory oversight, testing and analysis. This includes hundreds of simulator sessions and test flights, regulatory analysis of thousands of documents, reviews by regulators and independent experts and extensive certification requirements. Over the past several months Boeing has been making changes to the 737 MAX. Most significantly, Boeing has redesigned the way Angle of Attack, or AoA, sensors work with a feature of the flight control software known as Maneuvering Characteristics Augmentation System, or MCAS. Going forward, MCAS will compare information from both AoA sensors before activating, adding a new layer of protection. In addition, MCAS will now only turn on if both AoA sensors agree, will only activate once in response to erroneous AOA, and will always be subject to a maximum limit that can be overridden with the control column. These software changes will prevent the flight control conditions that occurred in this accident from ever happening again. In addition, Boeing is updating crew manuals and pilot training, designed to ensure every pilot has all of the information they need to fly the 737 MAX safely. Boeing continues to work with the FAA and other regulatory agencies worldwide on the certification of the software update and training program to safely return the 737 MAX to service."
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