Stockwinners Market Radar for April 30, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:13 EDT Dollar General offers additional $25M in employee appreciation bonuses - Dollar General announced an additional $25M investment in retail, distribution center and fleet employee bonuses to demonstrate continued appreciation for the exceptional efforts of employees to serve customers and fulfill the company's mission of Serving Others during the company's first quarter 2020. Today's announcement brings the company's total investment in employee appreciation bonuses to approximately $60M. Today's bonus announcement applies to all full and part time employees across its store, distribution center and private fleet networks employed as of May 1, 2020 and is in addition to the $35M investment announced on March 24, 2020.

18:52 EDT Boeing says second 777X completes first flight - Boeing said it conducted a productive and successful first flight of the second 777X airplane. Capt. Ted Grady, 777X project pilot, and Capt. Van Chaney, 777/777X chief pilot, flew for 2 hours and 58 minutes over Washington state before landing at Seattle's Boeing Field at 2:02 p.m. Pacific. Designated WH002, this airplane is the second of four in a dedicated flight test fleet and will test handling characteristics and other aspects of airplane performance. An array of equipment, sensors and monitoring devices throughout the cabin allows the onboard team to document and evaluate the airplane's response to test conditions in real time. The 777X test plan lays out a comprehensive series of tests and conditions on the ground and in the air to demonstrate the safety and reliability of the design. To date, crews have flown the first airplane nearly 100 hours at a variety of flap settings, speeds, altitudes and system settings as part of the initial evaluation of the flight envelope. With initial airworthiness now demonstrated, the team can safely add personnel to monitor testing onboard instead of relying solely on a ground-based telemetry station, unlocking testing at greater distances.

18:46 EDT U.S. Steel sees COVID-19 affecting roughly 2,700 employees - U.S. Steel said in a regulatory filing that it plans to take additional footprint actions to further enhance the Corporation's ability to preserve cash and liquidity given the continued uncertainty from the coronavirus and the continued headwinds in global oil and gas markets. These actions are in addition to those announced on March 27, 2020. The company will temporarily idle #6 blast furnace at Gary Works and #1 blast furnace at Mon Valley Works, effective immediately. As a result of reduced blast furnace production, the Corporation also will indefinitely idle iron ore production at Keetac after the completion of a planned outage in mid-May and has extended coking times at Clairton Works to align coke production with steel production. The Corporation will also adjust production at its Minntac operations in line with the blast furnace idlings. Currently, in its North-America Flat-rolled operations, the Corporation plans to continue to operate blast furnace #14 at Gary Works, blast furnace #3 at Mon Valley Works and blast furnace "B" at Granite City Works. Additionally, the Corporation will indefinitely idle Lone Star Tubular Operations, including all heat-treat and finishing operations and support departments. The Corporation is accelerating the previously announced indefinite idling of #1 and #2 electric resistance welded mills, to begin immediately. These actions will result in a complete indefinite idling of the facility. The Corporation will also indefinitely idle the Hughes Springs coupling production facility in Texas. Seamless production at Fairfield Tubular Operations will continue in line with customer demand. In response to the significant impacts expected from the COVID-19 pandemic, along with operational adjustments, the Corporation has issued or plans to issue Worker Adjustment and Retraining Notification notices to approximately 6,500 employees. The Corporation currently expects the actual number of employees affected to be closer to 2,700.

18:38 EDT Walmart confirms Express grocery delivery service - Walmart announced Express Delivery, a new service that delivers more items from the store than ever before to customers' doors in less than two hours. Walmart has accelerated the development of the service in the wake of the Coronavirus pandemic, piloting Express Delivery in 100 stores since mid-April. The service will expand to nearly 1,000 stores in early May and will be available in nearly 2,000 total stores in the following weeks. Express Delivery allows customers to order across more than 160,000 items from Walmart's food, consumables and general merchandise assortment such as groceries, everyday essentials, toys and electronics. Walmart's Express Delivery joins the retailer's popular pickup and delivery offerings, all three of which are no-contact services for the customer. It relies on the retailer's team of 74,000 personal shoppers who will pick customers' orders. This includes additional personal shoppers hired specifically for Express Delivery. Walmart will utilize its existing lineup of delivery providers to take orders from a store to customers' doors. The service will cost $10 on top of the existing delivery charge. Walmart's Delivery Unlimited customers' will simply pay a $10 fee per Express Delivery. Like Walmart's pickup and delivery services, there is no markup on items - an item is priced the same as it is on the shelf. Express Delivery also builds on the existing inventory of pickup and delivery slots available to customers, creating more opportunity for customers to shop Walmart when and how they want.

18:22 EDT Align Technology CEO: It was a mixed quarter - In an interview on CNBC's Mad Money, Joe Hogan said it was a strong quarter, but fell apart in last two weeks when dental offices shut down. He noted the China order rate is 80%-85% back. Hogan expects a surge in demand when the COVID-19 crises passes. He said the company has recently added employees and expects business to grow 20%-30% per year.

17:55 EDT Dillard's to re-open 55 stores - Dillard's announced plans to re-open 55 stores in select locations following their temporary closure due to the COVID-19 pandemic. Dillard's will re-open 55 locations beginning Tuesday, May 5th in Arkansas, Colorado, Florida, Georgia, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee, Texas and Utah. Management is monitoring all markets for easing of government restrictions and will re-open stores as soon as possible.

17:51 EDT Apple says AppleCare, Ads services to be affected in June Q - Says seeing strong customer response to iPhone SE.

17:50 EDT Amazon.com says COVID-19 testing will cost $300M in Q2 - Says COVID-19 impact on Prime customer resulted in more shopping and larger baskets. Says no guidance on COVID-19 costs beyond Q2. Says grocery capacity up 60%. Comments taken from Q1 earnings conference call.

17:46 EDT Apple says 'nothing to announce today' on deferred payments - Says 'nothing to announce today' on deferred payments. Says plans to launch Apple card payment plans for new products. Says M&A approach has not changed despite the COVID-19 outbreak. Says always looking at 'tweaks' to manufacturing.

17:45 EDT Boeing awarded $112M Navy contract modification - Boeing was awarded a $112M modification to a previously awarded, fixed-price-incentive-firm-target contract. This modification exercises options to procure 16 infrared search and track Block II low rate initial production IV units; four for the Navy and 12 for the government of Australia. Work is expected to be complete by June 2023. FY20 aircraft procurement funds in the amount of $28M and Foreign Military Sales funds in the amount of $84M will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.

17:40 EDT Huntington Ingalls awarded $187.47M Navy contract action - Huntington Ingalls was awarded a $187.47M not-to-exceed undefinitized contract action for long lead time material and associated engineering and design activities in support of one Amphibious Assault Ship ReplacementFlight 1 Ship and LHA 9. Work to be performed is the procurement of long lead time material for LHA 9, the fourth LHA America class and the second LHA Flight 1 ship. Work is expected to be complete by February 2024. FY19 shipbuilding and conversion funding in the amount of $187.47M will be obligated at award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command is the contracting activity.

17:36 EDT Casa Systems falls 4.50% after quarterly results, guidance

17:33 EDT Lockheed Martin awarded $6.07B Army contract for missile production - Lockheed Martin was awarded a $6.07B firm-fixed-price contract for incidental services, hardware, facilities, equipment and all technical, planning, management, manufacturing and testing efforts to produce Phased Array Tracking Radar to Intercept on Target Advanced Capability-3 missiles, missile segment enhancement configuration and associated ground support equipment and spares. Bids were solicited via the internet with one received. Work has an estimated completion date of June 30, 2027. FY20 missile procurement funds in the amount of $6.07B were obligated at the time of the award. U.S. Army Contracting Command is the contracting activity.

17:31 EDT Amgen reports Q1 total product sales up 12% y/y, driven by 15% volume growth

17:30 EDT Apple says liquidity has not been an issue during these times

17:24 EDT Hilltop Holdings suspends stock repurchase program

17:15 EDT Novan receives minutes from Type C meeting with FDA on SB206 - Novan announced that the company has received meeting minutes from the April 1 Type C meeting with the FDA regarding SB206 for the treatment of molluscum contagiosum. Based on guidance the company received during the meeting and subsequently contained within the meeting minutes, Novan is preparing to conduct one additional pivotal trial B-SIMPLE4, which, if successful, could be supported by the previously completed B-SIMPLE2 trial in a future new drug application, or NDA. In addition, the FDA provided guidance with regard to the study design for B-SIMPLE4 and expectations for a future NDA submission, which has been incorporated in the B-SIMPLE4 preliminary trial design characteristics. The number of patients will be approximately 750 while investigator type, subjects per household and inflammation of molluscum lesions as measured by BOTE1 . The primary endpoint is proportion of patients with complete clearance of all treatable molluscum lesions at Week 12. The company will make use of decentralized visit capabilities for conduct during COVID-19 pandemic. Novan plans to send the proposed protocol to the FDA in the near term. The company has begun the planning and start-up phase for B-SIMPLE4. Novan is targeting enrolling the first patient for B-SIMPLE4 in September and if the trial is initiated on this timetable, the company would expect top-line efficacy results late in Q2 of 2021. The initiation and execution of B-SIMPLE4, beyond the start-up phase, is subject to additional funding or strategic partnering and may be further impacted by the COVID-19 pandemic.

17:14 EDT Apple not issuing guidance for coming quarter amid COVID-19 uncertainty - Says during last three weeks of quarter, saw downward pressure on demand, particularly for iPhone and wearables. Says will not be issuing guidance for coming quarter amid uncertainty around COVID-19. Says global supply chain is "durable" and "resilient."

17:12 EDT Eldorado Gold: Gold production totalled 115,950 ounces in Q1 - An increase of 40% from Q1 2019 production of 82,977 ounces. Eldorado is maintaining its 2020 annual guidance of 520,000 - 550,000 ounces of gold at an all-in sustaining cost of $850 - 950 per ounce sold.

17:10 EDT AptarGroup provides update amid COVID-19 pandemic - The company said, "Aptar is a global provider of drug delivery, consumer product dispensing and active packaging solutions. We are deemed an essential supplier to critical infrastructure industries identified by the U.S. Department of Homeland Security and have obtained similar designations by most other governments in the 20 countries in which we have a presence. In order to fulfil our purpose, our global operations remain open, albeit some at low utilization levels. We had a limited number of smaller locations that had closed for a short period of time during the quarter and are now open again. Most of our customers and suppliers also continue to operate though a few have decided to suspend certain operations. To date, we have experienced certain supply chain disruptions though we have been able to maintain supply from our primary suppliers. We continue to monitor the evolving COVID-19 pandemic and its implications to our business, our supply chain and our end markets."

17:01 EDT Gilead remain focused on ramping up intravenous remdesivir production - Says have teams looking into alternative delivery methods and identifying patients who would benefit from the development of antiviral. Says looking into subcutaneous and inhaled formulations for remdesivir - the drug is not appropriate for oral administration because of impact on liver. Comments taken from Q1 earnings conference call Q/A.

16:58 EDT Acer Therapeutics in $15M stock purchase pact with Lincoln Park - Acer Therapeutics announced it has entered into a common stock purchase agreement for up to $15 million with Lincoln Park Capital Fund, a Chicago-based institutional investor. Under the terms of the purchase agreement and following the filing and effectiveness of a registration statement, Acer will have the right at its sole discretion, but not the obligation, to sell to LPC up to $15 million worth of shares over the 36-month term of the agreement, subject to various limitations including those under the Nasdaq listing rules. There are no upper limits to the price per share LPC may pay to purchase the shares, and the purchase price of the shares will be based on the then prevailing market prices at the time of each sale to LPC. Acer controls the timing and amount of any future sales of its stock to LPC. There are no warrants, derivatives, financial or business covenants associated with the agreements, and LPC has agreed not to cause or engage in any direct or indirect short selling or hedging of Acer's common stock. Acer may terminate the purchase agreement at any time, at its discretion, without any cost or penalty.

16:55 EDT Gulfport adopts tax benefits preservation plan to protect NOL tax assets - Gulfport Energy announced that its Board of Directors has unanimously adopted a tax benefits preservation plan to protect the ability of Gulfport to use its tax net operating losses under Section 382 of the Internal Revenue Code to reduce its future tax liabilities. As of December 31, 2019, Gulfport had approximately $1.3 billion of federal NOLs available to offset its future taxable income. Gulfport's ability to use these NOLs would be substantially limited if Gulfport experienced an "ownership change" within the meaning of Section 382 of the Code. Generally, an "ownership change" occurs if the percentage of the Company's stock owned by one or more of its "five-percent shareholders" increases by more than 50 percentage points over a three-year period. In light of the recent high volatility and trading volumes in the Company's stock in the midst of the current market disruptions, Gulfport determined to adopt the Tax Benefits Preservation Plan to prevent an inadvertent impairment of its NOLs. The Tax Benefits Preservation Plan is similar to plans adopted by other companies with significant NOLs. The Tax Benefits Preservation Plan will expire on the close of business on April 29, 2021.

16:55 EDT Cabot Oil & Gas sees Q2 average production 2,175-2,225 Mmcfe per day - This sequential production decline in the second quarter is primarily driven by a lighter turn-in-line schedule during the first four and a half months of the year with only thirteen wells expected to be placed on production between the beginning of the year and mid-May. This is primarily a result of longer cycle times for larger pads with longer laterals during the first and second quarters. Additionally, the company is forecasting modest price-related curtailments during the natural gas shoulder season.

16:52 EDT Bio-Rad's COVID-19 serology test granted EUA by FDA - Bio-Rad announced that it was granted FDA Emergency Use Authorization, or EUA, for the company's SARS-CoV-2 Total Ab test, the first total antibody test receiving EUA from the FDA. Bio-Rad's blood-based immunoassay test can help clinicians identify if an individual has developed antibodies against SARS-CoV-2, the virus associated with COVID-19 disease. The test has also met the CE mark requirements for Europe. Clinical evaluation of the SARS-CoV-2 Total Ab test has demonstrated diagnostic specificity of more than 99% and diagnostic sensitivity of 98%. Cross-reactivity testing demonstrated specificity of 100 percent with no reactivity against other interfering specimens including non-CoV-2 coronaviruses.

16:49 EDT Cortexyme names Caryn McDowell chief legal and administrative officer - Cortexyme announced Caryn McDowell, J.D. will join the company's executive leadership team as Chief Legal and Administrative Officer and Corporate Secretary, effective May 11, 2020. In this newly created role, Ms. McDowell will lead Cortexyme's legal, corporate governance, compliance, human resources, and administrative functions. "As we continue to advance our pipeline and execute on the GAIN Trial, the ongoing Phase 2/3 clinical study of our lead investigational medicine, COR388, for mild to moderate AD, we are thrilled to add Caryn McDowell's expertise to the Cortexyme leadership team," said Casey Lynch, chief executive officer, chair, and co-founder of Cortexyme. "Caryn brings with her an impressive track record and a wealth of experience in biopharma corporate strategy, legal affairs and corporate governance. She will be a strong addition to the team as we continue to advance our foundational science."

16:48 EDT ICF International awarded $70M platform services BPA from FCC - The Federal Communications Commission recently awarded a re-compete blanket purchase agreement to global consulting and digital services provider ICF to provide tailored platform support services. The agreement is valued up to $70M and has a term of five years including a 12-month base and four 12-month option periods. ICF was also awarded its first task order under the BPA for $15M to provide program management, development, platform architecture and system administration support for the term of the BPA.

16:46 EDT Apple shares turn negative, down 1% to $289.96 after Q2 results

16:44 EDT Gilead CEO says remdesivir study determines patients best responding - Anticipate to have over 1M remdesivir patients by year end. Says ability to shorten duration for severely ill COVID-19 patients has positive impact on when patients can be discharged and on the supply. Intend to work with governments around the world. Plan to work with regulatory authorities on best path forward for remdesivir. Comments taken from Q1 earnings conference call.

16:43 EDT Penn Virginia says halted all drilling, completion activity in early April - Penn Virginia announced a business update, completion of the Company's spring borrowing base redetermination and timing of its first-quarter 2020 earnings release and conference.Halted all drilling and completion activity in early April of 2020; Deferred completion of eight wells until late this year; Secured approximately 250,000 barrels of oil storage. Evaluating further opportunities to lower cost structure.Production Update: Produced an estimated 20,665 barrels of oil per day and 26,740 barrels of oil equivalent per day in the first quarter of 2020; Anticipating partial curtailment of production for May and June 2020.

16:40 EDT Gilead CEO says confident on long term financial durability of business - Saw double-digit growth in HIV franchise, with revenue increase of 14%. Says very confident in underlying HIV position, regained market share lead to 61%. Comments taken from Q1 earnings conference call.

16:38 EDT Gilead slips 2% after Q1 results

16:37 EDT Apple shares up $1.91 to $295.71 following Q2 results

16:35 EDT Apple reports Q2 Services revenue $13.35B vs. $11.45B last year

16:34 EDT Apple reports Q2 Products revenue $13.35B vs. $11.45B last year

16:33 EDT Apple board authorizes additional $50B for share repurchases - Apple said its board of directors has authorized an increase of $50B to the existing share repurchase program.

16:33 EDT Apple boosts quarterly dividend by 6% to 82c - Apple's board of directors has declared a cash dividend of 82c per share of the company's common stock, an increase of 6%. The dividend is payable on May 14, to shareholders of record as of the close of business on May 11.

16:32 EDT Apple CEO highlights 'all-time record' in Services - Apple CEO Tim Cook said in tonight's earnings release, "Despite COVID-19's unprecedented global impact, we're proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables. In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel motivated and inspired to not only keep meeting these needs in innovative ways, but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields we've sent to medical professionals around the world, to the millions we've donated to organizations like Global Citizen and America's Food Fund."

16:28 EDT PolarityTE: FDA hasn't asked company to stop marketing SkinTE

16:27 EDT PolarityTE to substantially reduce commericla operations, other functions

16:27 EDT Puma Biotechnology, Bixink enter exclusive licensing pact over NERLYNX - Puma Biotechnology and Bixink Therapeutics, a new South Korean company working in the field of anti-cancer drugs and digital therapeutics, have entered into an exclusive agreement under which Bixink will commercialize NERLYNX in South Korea. Bixink will be responsible for seeking the requisite regulatory approval and, once approved, for commercializing NERLYNX in South Korea. Under the terms of the agreement, Puma will receive upfront and milestone payments of up to $6 million, as well as significant double-digit royalties on the sales of NERLYNX in South Korea. "Our new agreement with Bixink demonstrates our commitment to bringing NERLYNX to patients around the world while continuing to focus our commercial resources on the U.S. market," stated Alan H. Auerbach, Chief Executive Officer and President of Puma. "We are excited about the potential to provide South Korean breast cancer patients with access to NERLYNX."

16:25 EDT U.S. Cellular cuts FY20 adj. OIBDA view to $725M-$850M from $775M-$900M

16:24 EDT Bristol-Myers, Acceleron say rebloyzl receives positive CHMP opinion - Bristol-Myers (BMY) and Acceleron (XLRN) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has issued a positive opinion, recommending the approval of Reblozyl for the treatment of: Adult patients with transfusion-dependent anemia due to very low-, low- and intermediate-risk myelodysplastic syndromes (MDS) with ring sideroblasts, who had an unsatisfactory response or are ineligible for erythropoietin-based therapy; Adult patients with transfusion-dependent anemia associated with beta thalassemia. This CHMP recommendation will now be reviewed by the European Commission (EC), which has the authority to approve medicines for the European Union (EU). If approved, Reblozyl would be the first erythroid maturation agent approved in the EU, representing a new class of therapy for eligible patients. The safety and efficacy results provided in the application are from the pivotal Phase 3 MEDALIST and BELIEVE studies, evaluating the ability of Reblozyl to effectively address anemia associated with MDS and beta thalassemia, respectively. "Patients with myelodysplastic syndromes who experience anemia have limited treatment options, and some have been shown to not respond to available erythropoietin-based therapies," said Uwe Platzbecker, M.D., Head of Clinic and Policlinic for Hematology and Cell Therapy, Leipzig University Hospital and lead investigator of the MEDALIST study. "If approved, the introduction of a new class of therapy in Reblozyl could provide a promising option to help relieve patients from the burden of regular transfusions to manage their disease."

16:24 EDT U.S. Steel grants Stelco option to acquire 25% interest in Minntac iron ore mine - U. S. Steel granted Stelco at a purchase price of $100M the option to acquire a 25% interest in the company's Minntac iron ore mining operations for an aggregate purchase price of $600M. Under the agreement, $20M was paid to U. S. Steel upon signing the option agreement and the remaining $80M will be paid ratably over the remainder of the 2020 calendar year. Once Stelco has completed paying the remaining $80M, the option can be exercised any time before January 31, 2027 and, upon exercise, Stelco will make an additional payment of $500M to acquire its 25% interest in the new cost-sharing joint venture. This agreement ensures U. S. Steel will continue to be the operator and majority owner of the Minntac mine and implies a $2.4B enterprise value for the Minntac operation. Morgan Stanley acted as financial advisor to U. S. Steel and Jones Day acted as legal advisor to U. S. Steel on the transactions.

16:21 EDT VICI says Eldorado continues to pursue Caesars merger approvals - VICI Properties (VICI) said in its earnings release, "Eldorado continues to pursue the regulatory approvals necessary to close its merger with Caesars. As previously noted, between the $1.3 billion in proceeds from the settlement of the forward sale agreements and the $2.0 billion held in escrow from the February unsecured notes offering, we have raised all equity and debt funding necessary to close on our part of the overall Eldorado/Caesars transaction."

16:21 EDT CoreLogic says results from core mortgage businesses surpassed industry trends - "During the first quarter, the CoreLogic team effectively executed our business plans and supported our clients as impacts from the COVID-19 pandemic began to emerge. While the Company did realize some revenue impacts mainly in consumer credit related businesses late in the quarter, results from our core mortgage businesses surpassed underlying industry trends. As we navigate the impacts of the pandemic, we continue to focus on the health and welfare of our associates, addressing critical needs within our communities, and delivering on our client commitments," said CEO Frank Martell.

16:19 EDT MGM Resorts proactively reduced cash outflows to $270M per month during closures

16:18 EDT Bed Bath & Beyond names Gustavo Arnal as new CFO - Bed Bath & Beyond (BBBY) appointed Gustavo Arnal as Executive Vice President, CFO & Treasurer, effective May 4. Arnal joins the company following his previous role as Group CFO of Avon (AVP), prior to which he held senior positions at Walgreens Boots Alliance (WBA) and Procter & Gamble (PG). Bed Bath & Beyond's current CFO & Treasurer Robyn D'Elia is departing the company.

16:16 EDT ViewRay names Zach Stassen as CFO - ViewRay has named Zach Stassen as CFO, effective May 18. Stassen most recently served as CFO and CPP for Bolder Surgical, a privately held company that develops and markets laparoscopic surgical devices.

16:15 EDT Bezos says Amazon holders 'may want to take seat,' company 'not thinking small' - "From online shopping to AWS to Prime Video and Fire TV, the current crisis is demonstrating the adaptability and durability of Amazon's business as never before, but it's also the hardest time we've ever faced. We are inspired by all the essential workers we see doing their jobs - nurses and doctors, grocery store cashiers, police officers, and our own extraordinary frontline employees. The service we provide has never been more critical, and the people doing the frontline work - our employees and all the contractors throughout our supply chain - are counting on us to keep them safe as they do that work. We're not going to let them down. Providing for customers and protecting employees as this crisis continues for more months is going to take skill, humility, invention, and money. If you're a shareowner in Amazon, you may want to take a seat, because we're not thinking small. Under normal circumstances, in this coming Q2, we'd expect to make some $4 billion or more in operating profit. But these aren't normal circumstances. Instead, we expect to spend the entirety of that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping employees safe. This includes investments in personal protective equipment, enhanced cleaning of our facilities, less efficient process paths that better allow for effective social distancing, higher wages for hourly teams, and hundreds of millions to develop our own COVID-19 testing capabilities. There is a lot of uncertainty in the world right now, and the best investment we can make is in the safety and well-being of our hundreds of thousands of employees. I'm confident that our long-term oriented shareowners will understand and embrace our approach, and that in fact they would expect no less," said Jeff Bezos, Amazon founder and CEO.

16:14 EDT Huron closely monitoring impact of COVID-19 pandemic - The company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business, including how it will impact its clients, employees and business partners. While the COVID-19 pandemic did not have a significant impact on its consolidated revenues in the first quarter of 2020, the company expects the COVID-19 pandemic to have an unfavorable impact on its sales and business development activities and full year 2020 results. However, given the dynamic nature of these circumstances, the full impact of the COVID-19 pandemic on the company's consolidated operations and overall financial performance is uncertain at this time.

16:12 EDT Amazon.com down 4% after earnings report - In afterhours trading, Amazon shares are down $99.16, or 4%, to $2,374.84.

16:10 EDT NCR Corp. says Hospitality, Retail segments to be most impacted by COVID-19 - "As NCR continues to closely monitor the impact of the COVID-19 pandemic, our focus has been to take care of our employees, take care of our customers and take care of our company," the company said. "Given this rapidly evolving environment, as previously stated on March 31, 2020, the Company's outlook for 2020 previously provided on February 11, 2020 has been withdrawn, and investors should no longer rely upon that guidance. While it is difficult to project how deep the pandemic will be and how long it will last, we do expect it will negatively impact our business for the remainder of 2020. We expect our Hospitality and Retail segments to be the most impacted by the COVID-19 pandemic, but do expect our Banking segment will also experience negative impacts. In order to build a stronger liquidity position, we have taken steps to improve working capital and are addressing certain business impacts with spending cuts. We have taken several steps to build our cash reserve to improve our financial liquidity and flexibility, and provide a cushion to help weather the impacts of the pandemic. These steps include suspending our share repurchase programs, limiting our mergers and acquisition activity, reducing salary for members of our leadership team and certain salaried employees, reducing our planned capital expenditures, eliminating most contractors, curtailing travel, and freezing merit increases and hiring. Additionally, on March 24, 2020, we drew the remaining available funds of $630 million on our five-year, $1.1 billion revolving credit facility and, on April 13, 2020, we issued $400 million senior unsecured notes. The COVID-19 pandemic is complex and rapidly evolving. The ultimate impact on our overall financial condition and operating results will depend on the currently unknowable duration and severity of the pandemic, as well as any additional governmental and public actions taken in response. There can be no assurance that the measures we have taken will offset the negative impact of COVID-19."

16:08 EDT Concho Resources sees FY20 oil production aprpoximately flat with 2019 - The Company expects full-year 2020 oil production to be approximately flat with 2019 divestiture-adjusted oil production volumes of 197 MBopd. The Company's production guidance reflects voluntarily curtailed volumes, which are primarily associated with low-margin vertical wells. However, Concho's production guidance does not reflect incremental curtailments that may arise as a result of further deteriorating crude oil supply and demand fundamentals or economic conditions, including field-level commodity prices.

16:07 EDT Concho Resources CEO says to further reduce capital spending in 2020 - Tim Leach, Chairman and CEO commented, "This is an extremely challenging environment, but our first priority is the safety and well-being of our employees, business partners and communities. Due to the hard work and dedication of our team, we delivered strong operational and financial results for the first quarter. The operating environment has changed considerably since our last update, and we expect a sustained period of low commodity prices. We are managing through the volatility and uncertainty from a position of strength, which we are focused on maintaining by aligning our operations with current market realities. We are further reducing capital spending in 2020 and targeting $100 million in operating cost reductions. We expect these actions will improve our capital efficiency and better position Concho to deliver value over the long term."

16:05 EDT Bezo says Amazon holders 'may want to take a seat,' company 'not thinking small' - "From online shopping to AWS to Prime Video and Fire TV, the current crisis is demonstrating the adaptability and durability of Amazon's business as never before, but it's also the hardest time we've ever faced," said Jeff Bezos, Amazon founder and CEO. "We are inspired by all the essential workers we see doing their jobs - nurses and doctors, grocery store cashiers, police officers, and our own extraordinary frontline employees. The service we provide has never been more critical, and the people doing the frontline work - our employees and all the contractors throughout our supply chain - are counting on us to keep them safe as they do that work. We're not going to let them down. Providing for customers and protecting employees as this crisis continues for more months is going to take skill, humility, invention, and money. If you're a shareowner in Amazon, you may want to take a seat, because we're not thinking small. Under normal circumstances, in this coming Q2, we'd expect to make some $4 billion or more in operating profit. But these aren't normal circumstances. Instead, we expect to spend the entirety of that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping employees safe. This includes investments in personal protective equipment, enhanced cleaning of our facilities, less efficient process paths that better allow for effective social distancing, higher wages for hourly teams, and hundreds of millions to develop our own COVID-19 testing capabilities. There is a lot of uncertainty in the world right now, and the best investment we can make is in the safety and well-being of our hundreds of thousands of employees. I'm confident that our long-term oriented shareowners will understand and embrace our approach, and that in fact they would expect no less."

15:30 EDT FuboTV announces ticker symbol change to 'FUBO' - FaceBank Group, doing business as fuboTV, announced that the company's ticker symbol on the OTCQB has changed to "FUBO" from "FBNK" effective tomorrow at market open. On April 2, fuboTV and FaceBank Group announced that they had merged to create a digital entertainment company, combining fuboTV's direct-to-consumer live TV streaming platform for cord-cutters with FaceBank's technology-driven IP in sports, movies and live performances. Following the merger, the combined company began trading on the OTCQB. The company intends to uplist to a major stock exchange in the coming months, it said.

14:57 EDT Dunkin' Brands CEO says not seeing any issue in meat supply chain yet - Dunkin' Brands CEO Dave Hoffmann said the company is monitoring the situation in the U.S. meat supply chain closely, but that it has not had any issues in its own meat supplies. Hoffmann added that Dunkin' hasn't furloughed any employees and will not take any federal government money. Hoffmann is being interviewed on CNBC.

14:52 EDT P.A.M. Transportation CEO Daniel Cushman to retire - P.A.M. Transportation Services announced that Daniel Cushman, President and CEO of the company, has notified the company that he intends to retire after eleven years as President and CEO, effective May 1. Cushman will remain in an advisory role with the company until July 31, 2020. The company will commence an internal and external national search for a new CEO.

14:15 EDT Dave & Buster's Atlanta area location to reopen on April 30 - A post to the website of the Marietta, Georgia Dave & Buster's location indicates that the location will reopen on April 30. Reference Link

14:08 EDT IHS Market cuts 2020 global light vehicle sales forecast to 69.6M units - IHS Markit (INFO) announced that it has downwardly revised its forecasts for global light vehicle sales and production as the impact COVID-19 impact has depressed demand. "Impacts to global auto demand in the wake of COVID-19 have rapidly progressed to severity levels higher than the 2008-2009 recession, and significant uncertainty around prospects for a meaningful recovery remain. Global light vehicle sales in 2020 are now forecast to drop to 69.6 million units, 22.0% lower than in 2019, with risks to the forecast still skewed to the downside, IHS Markit stated. Affected first by stay-at-home orders in effort to contain the virus and then by expected weak demand, global light vehicle production is now expected to drop to 69.3 million units in 2020 - a 19.6-million-unit decline from 2019, according to the latest IHS Markit forecast. North America is forecast to see sales drop 26.7% y/y in 2020. "IHS Markit expects that the known monetary and fiscal measures are not enough to prevent a collapse in auto sales, and in 2020, the U.S. market sales forecast is 12.5 million units," the research firm added. Publicly traded auto makers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).

13:52 EDT HTC debuts remote collaboration, meeting platform for VR VIVE Sync - HTC VIVE announces beta version of its remote collaboration and meeting platform for VR. VIVE Sync will be available free of charge for businesses during open beta periodic. The company said in a blog post: "If our goal is to drive team connectivity, then our virtual representations must capture our identifying features , including facial features, voice, and body mannerisms. To create your own Vive Sync avatar, you start with a selfie and customize from there. We want our avatars to be recognizable but still represent a digital space so hairstyles, facial features, body types, and clothing options are all customizable and we will continue to add more customization options over time. In addition to the look of your avatar, what is equally important is to ensure that your avatar's face and body move realistically. In Vive Sync when you talk, your mouth and eyes move naturally and mimic real-world facial movements. For folks with Vive Pro Eye and its integrated Tobii eye-tracking technology, your avatars will track your eye movement as well. Furthermore, we have developed our own robust full-body IK tracking system so you can be expressive through natural body language movements. All of this is aimed to deliver clearer communication and to build stronger relationships with your team. Given the global pandemic, we view Vive Sync as a way to help businesses benefit from the tools that have made our teams so productive, engaged, and feel connected. So, throughout this open beta period, starting today, we'll allow businesses of all sizes to use Vive Sync for free. As of today, the platform can support up to 30 meeting participants per session. Companies that may be impacted by this include: Zoom Video (ZM), Microsoft (MSFT), Slack (WORK), Google (GOOG), LogMeln (LOGM). Reference Link

13:36 EDT Seelos reports FDA orphan drug designation for SLS-005 in Sanfilippo syndrome - Seelos Therapeutics announced it has been granted Orphan Drug Designation for SLS-005 in Sanfilippo syndrome from U.S. Food and Drug Administration. SLS-005 was previously granted Orphan Drug Designation from the FDA and European Medicines Agency for Spinocerebellar Ataxia Type 3 and Oculopharyngeal Muscular Dystrophy as well as Fast Track designation for OPMD. Seelos also submitted its application to the FDA to request Rare Pediatric Disease Designation for SLS-005 and is awaiting a response, the company noted.

13:31 EDT Ford: Safety is top priority as Ford readies to reboot manufacturing worldwide - Ford outlined its global health and safety protocols, sharing how best practices and input from around the world are helping to protect its workforce, dealers, customers and suppliers as it phases in the restart of its global plants. The standards and precautions introduced this week expand on those used in Ford facilities in China, where work has already resumed, and in the U.S., where Ford has been manufacturing medical equipment for weeks. The people building those medical supplies have stayed safe and healthy by wearing face masks, face shields and other personal protection equipment, and maintaining at least 6 feet of space from other Ford people wherever possible. We've been working intently on how to restart our operations and safely bring back our employees and we're ready," said Jim Farley, Ford's COO. "We have gone through and trialed these processes. We're abiding by our first principles, and we are working with our union and government partners to restart. Getting back to work isn't just good news for Ford employees. It's also good news for our suppliers, car dealers and the ecosystems that provide services around them, like restaurants, shops and stores. This economic multiplier effect is going to help reboot communities around the globe." Ford is working to safely restart manufacturing in the U.S. and North America. The company recently announced plans to begin that process in Europe on May 4, and a small number of hourly and salaried employees returned to work this week in North America to begin installing equipment and putting in place new safety protocols. Ford already has started educating its global workforce to seamlessly integrate and follow these guidelines, all captured in a safety playbook that will be available for employees along with personal protection and hygiene items, like masks and sanitizer. While exact return-to work-dates for most hourly and salaried workers have not been determined, educating them now will enable them to return to work as safely as possible.

13:21 EDT Protective Insurance Corporation (Class A Stock) trading halted, volatility trading pause

13:13 EDT Phunware spikes almost 40% after launching mobile telemedicine solution - Phunware announced the launch of a mobile telemedicine solution for new and existing healthcare customers of its Multiscreen-as-a-Service, MaaS, platform. The operational response of healthcare organizations to the ongoing coronavirus, COVID-19, pandemic has accelerated the adoption and utilization of remote services such as telemedicine, according to a recent AbelsonTaylor survey. Telemedicine saw a 106% uptick in adoption, with more than 40% of physicians saying that they used it in March versus only 18% in 2019. In fact, remote conferencing by physicians has increased 58% on average, while office visits have plummeted in parallel, with 60% fewer patients now being seen per week in person. Unfortunately, a Sage Growth Partners survey found that most healthcare facilities are losing 10% of their annual revenues to patient leakage as patients continue to seek out-of-network services that are increasingly more accessible to them elsewhere due to advancements in innovation. "Healthcare organizations are being forced to leverage telemedicine in order to stay competitive with their digital transformation initiatives and to address patient concerns about the safety underlying in-person visits in the wake of COVID-19," said Randall Crowder, COO of Phunware. "Our new solution offers physicians an out-of-the-box telemedicine platform on mobile with streamlined reimbursement that keeps its referrals in-network to help reduce their patient leakage while enhancing their revenues." Shares of Phunware are currently up 25% to 89c per share.

12:18 EDT Humana posts coverage determination for Aimmune's Palforzia - The Pharmacy Coverage Policy, with an effective date of April 15, posted by Humana (HUM) states: "Palforzia is indicated for the mitigation of allergic reactions, including an aphylaxis that may occur with accidental exposure to peanut. Palforzia is approved for use in patients with a confirmed peanut allergy diagnosis...Palforiza peanut allergen powder will require prior authorization." Reference Link

12:00 EDT Olin falls -17.6% - Olin is down -17.6%, or -$2.85 to $13.38.

12:00 EDT Chesapeake falls -31.7% - Chesapeake is down -31.7%, or -$8.50 to $18.35.

12:00 EDT Matador rises 30.4% - Matador is up 30.4%, or $2.04 to $8.74.

11:59 EDT AT&T combines all advertising business under WarnerMedia CRO Zeiler - AT&T announced WarnerMedia and Xandr are combining to create a "better advertising value proposition for brands, publishers and consumers alike. Gerhard Zeiler, Chief Revenue Officer, WarnerMedia & President, WarnerMedia International will oversee all advertising responsibilities across AT&T," said the company in a statement. "This unification will enable brands and agenciesto gain access to the broadest and most effective advertising solutions including the highest-quality content and environments, leading advanced TV products, and intelligent digital advertising capabilities.Kirk McDonald, Chief Business Officer, Xandr will continue to lead Xandr, reporting directly to Zeiler," continued AT&T. "We are in unprecedented times that amplify the priority across both WarnerMedia and Xandr, to deliver valuable results and outcomes for our agencies and clients," said Zeiler. Reference Link

11:45 EDT Loral Space & Communications trading resumes

11:34 EDT Quest Diagnostics, Clinical Genomics expand strategic relationship in CRC - Clinical Genomics announced key business updates related to Trident, the Company's first-line Colorectal Cancer, CRC, screening blood test program, and its strategic alliance with Quest Diagnostics. The alliance also expands the Company's commercialization rights for the Trident Program and COLVERA for CRC monitoring outside the United States, Mexico, United Kingdom, and India. "These recent key advancements toward a pivotal study aimed at approval for commercialization will enable us to achieve our mission to save lives and reduce healthcare costs by providing easy-to-use and affordable tests for the detection and monitoring of colorectal cancer," stated Betsy Hanna, Chief Executive Officer of Clinical Genomics. "Quest's national network of laboratories, 2,250 patient service centers and employer population health solutions can provide broad access to any first-line blood test for CRC screening," concluded Hanna.

11:20 EDT Loral Space says in 'advanced talks' about combination transaction with Telesat

11:02 EDT Spruce Point urges Advent to reevaluate deal to acquire ForeScout - Spruce Point Capital Management has issued a letter sent to the management of Advent International recommending that Advent critically reexamine its agreement to purchase Forescout Technologies, Inc.. Spruce Point said: "Accompanying the letter is a report supporting our view that the deal price could be revised lower by up to 35%-50%, if not called off entirely... We believe Advent substantially overpaid, underscored by Investcorp's recent purchase of Avira in early April. Spruce Point estimates that, given (1) Advent's potentially incomplete view into Forescout's financials during the negotiation process, and (2) pandemic-related developments which we believe erode the Company's outlook going forward, a conservative reevaluation of the deal featuring NO multiple compression could see Advent value FSCT more than 20% below the $33/share deal price. Despite facing a $112M termination fee, a straight-forward cost/benefit analysis reveals that, at the current terms, Advent would do better to walk away from the deal rather than complete it. We believe that, in a realistic scenario in which Forescout's projections are revised downward, and the multiple compressed, Forescout shares should be valued between $17-$22 regardless of whether the deal is renegotiated or annulled completely, yielding 35%-50% downside to the $33 price."

10:39 EDT OncoCyte receives final LCD for Medicare coverage for DetermaRx - CMS posted the final local coverage determination, or LCD, to its website. Reference Link

10:22 EDT Guided Therapeutics, FDA agree on path forward in LuViva approval process - Guided Therapeutics announced that had held a scheduled teleconference on April 28, 2020 with the US FDA as the next step for obtaining sales and marketing approval of its LuViva Advanced Cervical Scan. As a previous step, the company filed on February 17, 2020 its FDA Pre-Submission document, which summarized LuViva's new indication for use and supporting clinical trial design. Five days prior to its meeting, FDA provided the company with written comments on its Pre-submission document detailing its approach for a new clinical trial to support U.S. approval. "The meeting with FDA was both positive and constructive, providing a path forward in the approval process," said Gene Cartwright, CEO. "With the aid of the written comments and feedback from the meeting, we expect to submit an improved study protocol within 30 days. At the same time, we also will begin the logistical work necessary for initiating the study." The new indication for LuViva's use is based on recent findings that up to 40% to 50% of cervical disease can be missed at the point of biopsy because current technology of visually examining the cervix under magnification either cannot detect the correct area to biopsy or cannot detect the disease at all, even though a screening test such as the Pap Smear indicates an abnormality may exist.

10:00 EDT Kempczinski says buybacks 'not something we'll be thinking about for year plus' - McDonald's CEO Chris Kempczinski, during an interview on CNBC, said he thinks stock buybacks "are not something we'll be thinking about for the next year plus." The company expects to get back to unit development in 2021 and he feels "good" about the company's liquidity, adding that the company's recent debt issuance was done to offer maximum flexibility.

10:00 EDT Olin falls -15.0% - Olin is down -15.0%, or -$2.44 to $13.80.

10:00 EDT Matador rises 11.6% - Matador is up 11.6%, or 78c to $7.48.

10:00 EDT Accenture acquires NIKE Group, terms not disclosed - Accenture has acquired NIKE Group, an Italian consulting firm that provides regulatory technology services and solutions to financial services firms. Accenture announced its intent to acquire the business on April 14. Financial terms of the transaction were not disclosed.

09:52 EDT McDonald's CEO 'confident' breakfast mix can return to pre-crisis levels - Kempczinski said the U.S. meat situation is "concerning" and being monitored "hour by hour," but so far McDonald's has had no supply chain breaks in the U.S. McDonald's CEO Chris Kempczinski is being interviewed on CNBC.

09:51 EDT CapStar Financial trading resumes

09:48 EDT Six Flags trading resumes

09:47 EDT Applied Industrial Technologies falls -10.2% - Applied Industrial Technologies is down -10.2%, or -$5.75 to $50.87.

09:47 EDT Universal Compression rises 9.9% - Universal Compression is up 9.9%, or $1.27 to $14.10.

09:47 EDT Kenon rises 12.3% - Kenon is up 12.3%, or $2.03 to $18.59.

09:46 EDT CapStar Financial trading halted, volatility trading pause

09:43 EDT Six Flags trading halted, volatility trading pause

09:36 EDT McDonald's says breakfast is 'critical part' of business mix - Expects to "aggressively" pursue it post COVID-19.

09:34 EDT American Airlines: Goal is to be no furloughs for workers

09:30 EDT Chesapeake trading halted, volatility trading pause

09:21 EDT BioSig's ViralClear submits in vitro data on merimepodib, remdesivir activity - BioSig Technologies announced that an article titled, "The IMPDH inhibitor merimepodib provided in combination with the adenosine analogue remdesivir reduces SARS-CoV-2 replication to undetectable levels in vitro", was submitted to an online peer-reviewed life sciences journal. This manuscript is authored by Natalya Bukreyeva, Rachel A. Sattler, Emily K. Mantlo, John T. Manning, Cheng Huang and Slobodan Paessler of the UTMB Galveston National Laboratory and Dr. Jerome Zeldis of ViralClear Pharmaceuticals, Inc. as a corresponding author. This article highlights pre-clinical data generated under contract with Galveston National Laboratory at The University of Texas Medical Branch. The work was started with Trek Therapeutics and after merimepodib was acquired by ViralClear continued with ViralClear. Merimepodib, a broad-spectrum anti-viral candidate, demonstrated strong activity against COVID-19 in cell cultures in laboratory testing. The molecule is currently undergoing extensive pre-clinical antiviral testing. Upon receipt of FDA permission of its IND, ViralClear intends to pursue development of this molecule for the treatment of COVID-19 through clinical trials in Q2 2020.

09:17 EDT Proto Labs sees April revenue down 5% y/y - Sees April revenue down 15% excluding COVID-19 revenue. Says has approximately $3M in backlog of COVID-19 orders expected to ship in May. Says COVID-19 related orders take priority over others. Says still receiving COVID-19 orders, but at a lower rate than earlier in April. Says Q1 revenue was in middle of guidance range with Q1 EPS better than expected. Comments taken from Q1 earnings conference call.

09:13 EDT AMD, Oxide Games announce multi-year partnership - AMD and Oxide Games announced a multi-year partnership to co-develop graphics technologies for the growing cloud gaming market. By combining leadership gaming hardware and graphics expertise from AMD with Oxide's proven development capabilities and innovative Nitrous game engine, the companies plan to create a robust set of tools and technologies for cloud rendering designed from the ground up to embrace the real-time demands of cloud-based gaming.

09:13 EDT American Airlines has no plans to close any hubs, 'in fact far from it' - American said: "This is not the time to dismantle our customer proposition, this is the time to sharpen it."

09:11 EDT Galectin Therapeutics submits Phase 2b/3 NASH-RX protocol in cirrhosis - Galectin Therapeutics announced that it has submitted to the U.S. Food and Drug Administration its protocol for a seamless adaptively-designed Phase 2b/3 clinical study, the NASH-RX trial, evaluating the safety and efficacy of its galectin-3 inhibitor, belapectin, for the prevention of esophageal varices in patients with non-alcoholic steatohepatitis cirrhosis. The filing anticipates clinical trials will begin in the second quarter of this year. The major features of the innovative, seamless adaptively-designed Phase 2b/3 study design are summarized below and graphically depicted in the figure: In patients with NASH cirrhosis and clinical signs of portal hypertension but without esophageal varices at baseline, this trial will assess the effect of belapectin on the incidence of new varices as well as assessing the effect on the incidence of long-term, clinically significant cirrhosis-related "hard" outcomes. The design of this trial reflects the unmet medical needs of the target patient population for belapectin treatment: NASH patients with compensated cirrhosis who develop esophageal varices. Bleeding varices are a cause of death in about one-third of cirrhotic patients. There is no approved treatment for preventing varices in these patients. The development of new varices reflects the progression of hepatic cirrhosis and thus portends the development of other cirrhosis complications and outcomes such as significant ascites, hepatic encephalopathy, and ultimately liver failure. During the first 18 months of the trial, two belapectin dose levels will be compared to placebo. Then, at the interim analysis, one belapectin dose will be selected based on efficacy and safety, for continued evaluation in Stage 2. Prior trials have demonstrated the safety of belapectin with doses of up to 8 mg/kg for 52 weeks.

09:10 EDT American Airlines shares drop 9% in pre-market trading as Q&A continues

09:08 EDT Danaher closes sale of certain businesses to Sartorius AG - Danaher (DHR) announced it completed the sale of its label-free biomolecular characterization, chromatography hardware and resins, microcarriers and particle validation standards, single use tangential flow filtration systems, and stainless steel hollow fiber tangential flow filtration systems businesses to Sartorius AG for approximately $825M. The combined revenue of the businesses, which were part of Danaher's Life Sciences segment, was approximately $170M in 2019. Danaher sold these businesses in order to obtain regulatory approval for its acquisition of the GE (GE) Biopharma business, now called Cytiva. The closing of the Sartorius AG agreement was conditioned upon Danaher closing its acquisition of Cytiva, which was completed on March 31.

09:05 EDT Covetrus announces $250M convertible preferred equity investment by CD&R - Covetrus announced a $250 million investment from Clayton, Dubilier & Rice. This additional capital significantly strengthens the Company's financial profile and enables management to execute against strategic growth objectives. The $250 million in proceeds from the perpetual convertible preferred equity investment will be used to repay a portion of the Company's revolver borrowings, provide additional short-term liquidity, and support general corporate purposes. CD&R will purchase $250 million of perpetual convertible preferred stock that carries a 7.50% dividend, which will be payable in cash or in-kind, at Covetrus' option. The preferred stock will be convertible into shares of Covetrus common stock at a conversion price of $11.10 per share, representing a premium of 40% to Covetrus' thirty-trading day volume-weighted average price and 11% to the five-trading day VWAP. The Company's stock price has increased by 43% since release of preliminary first quarter 2020 results and provision of a business and operational update regarding the COVID-19 pandemic on April 22, 2020. On an as-converted basis, together with CD&R's existing common shares of Covetrus, CD&R will now own approximately 25% of pro forma common shares outstanding. However, the terms of the preferred stock limit CD&R's voting interest to 19.99% of the then-outstanding voting interests in the Company. Under the terms of the transaction agreements, CD&R will have the right to appoint two designees to the Covetrus board of directors.

09:03 EDT GeoVax Labs, Sino Biological sign exclusive supply agreement for bioreagents - GeoVax Labs announced that Beijing- and Philadelphia-based Sino Biological, Inc. will be its exclusive supplier of SARS-Cov-2 bioreagent research products. Under the terms of the agreement, Sino Biological will provide key bioreagents such as recombinant proteins, antibodies and detection kits for use in COVID-19 vaccine development underway at GeoVax. Sino Biological will also obtain exclusive rights to research-use-only reagents developed jointly by the companies. Financial terms were not disclosed. Sino Biological was the first to market with mammalian cell-made COVID-19 viral recombinant proteins and offers a full range of these and other bioreagents to complement and aid in COVID-19 vaccine development and has the world's largest selection of coronavirus research-grade products. GeoVax is at the forefront of development for a COVID-19 vaccine and its use of recombinant viruses to generate virus-like particles in vivo has demonstrated considerable immune response for other viruses in a number of human clinical trials.

08:56 EDT American Airlines sees daily cash burn declining to about $50M in June

08:52 EDT Nielsen expects greatest impact from COVID-19 in Q2 - Says separation of Nielsen Global Media and Nielsen Global Connect will likely be complete in Q1 of 2021. Says TV viewership up 27% from before stay at home orders. Says continues to work collaboratively with Elliot Management. Says COVID-19 had a 160 basis point drag on revenue in Q1. Says reduced FY20 capital expenditures by $40M. Comments taken from Q1 earnings conference call.

08:50 EDT American Airlines CFO: E190s, 767s 'officially retired'

08:50 EDT Synalloy to explore full range of strategic alternatives after markets stabilize

08:49 EDT Naked Brand Group signs first renewal period through ABG agreement - Naked Brand Group has signed the first renewal period of its license through an amended licensing agreement with Authentic Brand Group , or ABG, from whom Naked licenses the Frederick's of Hollywood brand. The renewal period runs for an additional five years commencing January 1, 2021.Per the terms of licensing agreement, the contract has nine additional renewal periods, each five years in length, remaining.

08:48 EDT Acasti Pharma submits TRILOGY 1 briefing package to FDA - Acasti Pharma announced that it submitted its briefing package on April 29, 2020 to the Food and Drug Administration for review. The Company is currently awaiting comments, and expects a formal response from the FDA on or before June 30, 2020. As previously reported, Acasti filed its meeting request at the end of March, and this briefing package is now intended to provide the FDA with a review of the relevant TRILOGY 1 data and audit findings, with the objective to gain alignment on the interpretation of the TRILOGY 1 results and implications for TRILOGY 2. The Company will also seek the FDA's input on Acasti's proposed revisions to the pre-specified TRILOGY 2 statistical analysis plan, and explore and hopefully reach agreement on a plan for pooling the data from TRILOGY 1 and TRILOGY 2 to support an NDA filing. Acasti continues to remain blinded to the TRILOGY 2 results, and intends to update the statistical analysis plan with these revisions if the FDA agrees. Acasti also announced that it has received notice of issuance of a composition of matter patent to be awarded by the Intellectual Property Office in Hong Kong. This new patent grants claims for any composition containing EPA and DHA, where at least 50% of the composition consists of phospholipids.

08:45 EDT Toro Company announces actions in response to COVID-19 pandemic - The Toro Company announced proactive actions it is taking to mitigate anticipated impacts of the COVID-19 pandemic on its business. The company said, "The compensation of the company's senior leadership, including all executive officers, and the Board of Directors is adjusted as follows for the rest of fiscal 2020: Salary for Richard M. Olson, chairman and CEO, is reduced by 30%. Additionally, Mr. Olson will make a voluntary personal donation to the Melrose/Hoffman Employee Critical Need Fund which was established in 2005 to help The Toro Company employees that are experiencing financial hardship. Salaries for members of the executive leadership team are reduced by 20%. Salaries for all other executive officers, general managers and certain other senior leaders, are reduced by 10%. The Board of Directors will forgo the cash portion of their compensation and instead donate the pay to the Melrose/Hoffman Employee Critical Need Fund for the benefit of The Toro Company employees. Additional measures the company is taking include: Reducing salaries for US-based exempt office employees by 3.5% and the workweek for US-based nonexempt office employees to 37 hours per week, each for the rest of fiscal 2020. This is equivalent to a reduction that otherwise would have been realized through a five-day furlough. Eliminating the 2020 discretionary investment fund contribution under the company's retirement plan that would be paid in 2021. Eliminating additional broad-based fiscal 2020 merit increases. Continuing a hiring freeze on most positions. The company will continue to monitor the impact of COVID-19 and may adjust its action plans accordingly as the situation progresses. As disclosed previously, the company has already curtailed share repurchases for fiscal 2020 as it focuses on debt repayment. As a reminder, on March 30, 2020, the company announced that it withdrew its fiscal 2020 second-quarter and full-year guidance. The company will provide additional business updates during its fiscal 2020 second-quarter earnings announcement and conference call that is expected to be held on June 4, 2020."

08:43 EDT American Air 'strongly' encouraging customers to wear face masks during travel

08:43 EDT Ferrari starts 'Installation Lap' phase - Ferrari N.V. has launched the "Installation Lap" phase, safety training primarily for employees involved in the resumption of production from Monday 4 May. The Company has dedicated several days to this crucial phase. It has decided to put before the start of production the training sessions for workers, in particular, on the best precautionary measures to take against any health risk, in line with the "Back on Track" programme. The Company will provide checks at the entrances to the workstations, PPE and rules for sharing common areas. It has reorganised its environments and has provided the best tools to its staff for a smooth and safe return to work. For example, workers are offered voluntary serological tests before going back to work. In line with the government's recent indications, Ferrari will gradually restart its Maranello and Modena plants on 4 May. They will return to full production on Friday 8 May. Over the coming weeks, all business activities that can be carried out through remote working will continue as usual in this way.

08:42 EDT American Airlines CEO expects recovery to be slow

08:40 EDT McDonald's says now operating in 'completely different world' - Expects to strengthen competitive advantages after the COVID-19 crisis passes. Says no break in supply chain to date. Says global delivery sales up "significantly." Seeing "heightened focus" on value and convenience. Reopening in European markets will be phased. Sees Q2 comps "significantly worse." Says trajectory of recovery "highly uncertain." Comments taken from Q1 earnings conference call.

08:39 EDT TriMas withdraws FY20 guidance due to COVID-19 - Due to the COVID-19 pandemic and the resulting economic uncertainty, TriMas is withdrawing its full year guidance for 2020, which was previously provided on February 27. "While the current environment presents us with uncertainties and challenges, our longer-term growth strategy remains consistent. We believe TriMas is well positioned financially and strategically, and we are confident our TriMas Business Model, strong brands and innovative product solutions, talented and dedicated employees, and relentless commitment to cash conversion position us well for the long term," CEO Thomas Amato added.

08:38 EDT MJardin Group amends borrowing obligations - MJardin Group announced the Company has agreed with its senior lender to amend certain terms associated with its borrowing obligations. Under the terms of the Agreement, the senior lender has agreed to provide the Company with up to C$7 million in additional borrowings under a demand loan, with interest being accrued but not payable until January 2021.

08:37 EDT Sunworks secures $2.8M loan under PPP of CARES Act - Sunworks announced that it received a $2.8 million loan under the Paycheck Protection Program a provision within the Coronavirus Aid, Relief, and Economic Security Act, signed into law on March 27, 2020. The PPP allows businesses with fewer than 500 employees to obtain a loan of up to $10 million, incentivizing companies to maintain consistent headcount as they manage through the operational disruptions caused by the COVID-19 pandemic. As a U.S. Small Business, Sunworks qualifies for the PPP and is confident the loan will allow the Company to continue steady operations. The loan was obtained from Tri Counties Bank, one of Sunworks longtime banking partners. The unsecured loan has a term of two years, bears interest at a fixed rate of one percent per annum, and is guaranteed by the Small Business Administration. The SBA has agreed to forgive a portion or all of the loan if, among other criteria, at least 75% of the proceeds are used for payroll costs, the Company maintains its average headcount and compensation levels from February 2020 and June 2020, and the forgiven payroll expenses are incurred within the eight-week period following the loan funding date. The portion of the loan that is not forgiven, including interest, will be deferred six months after the funding date. Earning this loan enables the company to continue operations, benefiting its employees, customers, and stakeholders.

08:37 EDT American Airlines CEO: Demand for air travel will be 'suppressed' for some time - Comments taken from Q1 earnings conference call.

08:40 EDT Franklin Resources says Legg Mason acquisition on track to close in Q3 - Jenny Johnson, President and CEO of Franklin Resources (BEN), said, "Our acquisition of Legg Mason remains on track to close in the third quarter of the calendar year, and integration plans are well underway. We continue to see the long-term value of these combined franchises and that our strategy to diversify and create new opportunities is the right one. There's excitement at both firms as we continue to move forward with planning for a combined company and working to satisfy the conditions to close. Our combined company will offer a broader range of leading investment strategies, a more encompassing geographical presence, a diversified client base, and a resilient and adaptable platform that can aptly navigate market cycles. It's also premised on the stability and continuity of our client-facing teams, while providing opportunities to invest in our sales and client service model. We are very focused on integration planning to meet these goals. Following the close of the transaction, our financial resources and flexibility will remain robust, an important foundation of our company."

08:34 EDT MG Capital announces Glass Lewis recommendation to remove HC2 Holdings board - MG Capital Management announced that Glass Lewis has endorsed its case for wholesale change at HC2 Holdings. Glass Lewis recommends that stockholders vote to consent to all actions on the green consent card, including the election of all six of MG Capital's highly-qualified and independent nominees - George Brokaw, Kenneth Courtis, Michael Gorzynski, Robin Greenwood, Liesl Hickey and Jay Newman - to HC2's board. Glass Lewis' endorsement follows ISS' recommendation that stockholders consent to the removal of Philip Falcone, Wayne Barr and Robert Leffler and the election of MG Capital's independent nominees.

08:33 EDT Celsius Holdings reports online sales volumes up 167% year-over-year - Celsius Holdings announced record online sales volume driven by new eCommerce partners and e-marketing initiatives. The portfolio of Celsius brand fitness drinks is now the Energy Drink Aisle Sponsor for Instacart, a home grocery delivery service. The sponsorship is part of the company's strategy to shift investment in marketing programs towards targeted online campaigns in response to the recent surge in consumers using home delivery and pick-up services for food and beverages. The company reports average daily online sales volumes have increased over 167% when compared to this time in the year ago period.

08:32 EDT UroGen Pharma announces publication of Phase 3 OLYMPUS data - UroGen Pharma announced The Lancet Oncology published results from the pivotal Phase 3 OLYMPUS trial, reporting that 59% of low-grade upper tract urothelial cancer, or LG-UTUC, patients treated with UGN-101, now referred to as Jelmyto for pyelocalyceal solution, achieved a Complete Response, or CR. Additionally, in the publication, durability at 12 months was estimated to be 84% by Kaplan-Meier analysis. Jelmyto consists of mitomycin, an established chemotherapy, and sterile hydrogel, using UroGen's proprietary sustained release RTGel technology. It has been designed to enable longer exposure of urinary tract tissue to mitomycin, thereby enabling the treatment of tumors by non-surgical means. Jelmyto is indicated for the treatment of adult patients with LG-UTUC. It is contraindicated in patients with perforation of the bladder or upper urinary tract. In the pivotal OLYMPUS trial, participants received six once-weekly instillations of Jelmyto via retrograde catheter in the renal pelvis and calyces. The intent-to-treat population included the seventy-one patients who received at least one dose of Jelmyto; 48% of these patients had tumors that were deemed endoscopically unresectable. As reported in The Lancet Oncology publication, Jelmyto achieved a Complete Response in 59% of the ITT population and durability at 12 months was estimated to be 84% by Kaplan-Meier analysis. As reported in The Lancet Oncology publication, in the trial, 67 patients experienced adverse events, or AEs, and 60 patients had AEs that were considered to be related to the study treatment or procedure. No treatment-related deaths occurred. Overall, the most frequently reported AEs were ureteric stenosis in 31 of 71 patients, urinary tract infection in 23, haematuria in 22, flank pain in 21 and nausea in 17.

08:28 EDT Overstock.com reports April retail sales up over 120% y-o-y - The company said, "Overstock has been responsive to the opportunities and challenges brought by COVID-19. In our retail business, customer demand has increased significantly, particularly in our key home furnishings categories. As a result, we have seen an increase in website traffic and new customers, and our retail sales have accelerated to over 120% year over year growth in April. Our online-only platform and partner network of more than 4,500 drop-ship facilities has allowed us to meet this surge in demand without significant operational disruption. However, we have faced challenges with increased volume through our customer service channels and with capacity issues from our shipping carriers. We have seen little interruption at tZERO and its subsidiaries, but we recognize potential risks to the platform due to market depression, volatility, and delays in trading and capital raises. Most of our Medici Ventures blockchain companies have seen little disruption; some are working to solve problems exacerbated by the global pandemic. All corporate staff is working from home and we are hiring in key areas to support the growth we are experiencing. It is difficult to predict the duration of these impacts or how the evolving COVID-19 situation will affect our business in the future."

08:25 EDT Trupanion drops after Pumpkin launches pet insurance plans through Zoetis - Pumpkin Insurance Services, a new pet insurance agency and pet care company, announced the launch of its new insurance and optional monthly preventive care plans for pet owners in the U.S. Launched by Zoetis (ZTS), Pumpkin is now available to consumers in many states. For dogs, insurance is $15.95 per month and includes reimbursement for the costs of one annual wellness exam fee and two vaccines administered at such annual visit. It also provides a 12-month supply of Zoetis' Simparica Trio. For cats, insurance is $10.95 per month and includes reimbursement for the costs of one annual wellness exam fee and one vaccine typically administered at such annual visit. It also provides a 12-month supply of Zoetis' topical 6-in-1 parasite preventive, Revolution Plus. Following the news, shares of Trupanion (TRUP) are down 5% to $32.00 in premarket trading. Trupanion is a provider of medical insurance for cats and dogs throughout the United States and Canada.

08:24 EDT Pumpkin Insurance Services launches new care plan with Zoetis - Pumpkin Insurance Services, a new pet insurance agency and pet care company, announced the launch of its new insurance and optional monthly preventive care plans for pet owners in the U.S. Launched by Zoetis, Pumpkin is now available to consumers in many states. "With its holistically designed plans, Pumpkin addresses a gap in the pet care industry by offering competitive pet health insurance and preventive care so pet owners can help their pets stay healthy year-round. Rather than wait until animals are sick or injured to provide care, Pumpkin's Preventive Essentials plan - available at an additional cost to the core insurance plan - helps enable families to give their pets crucial routine care that veterinarians universally recommend for cats and dogs.:

08:23 EDT Penn State Health selects R1 RCM for end-to-end revenue cycle management - R1 RCM announced that Penn State Health, a multi-hospital academic health system in central Pennsylvania, has entered into a five-year strategic partnership with R1. Penn State Health selected R1 to help drive revenue cycle improvements, including improved revenue, reduced costs and higher patient satisfaction among the patients and communities it serves through its hospitals and medical groups across central Pennsylvania. R1's end-to-end revenue cycle platform embeds technology, automation, best practices and enterprise-wide performance analytics into a healthcare organization's existing infrastructure and workflow. In turn, the R1 platform helps drive significant and sustainable improvements to net patient revenue and cash flows and enhances the patient experience.

08:19 EDT Driver sends letter to First United Corp director regarding 2010 board proposal - Driver Management, the manager of an investment partnership that is the largest shareholder of First United Corp, has sent a letter to John McCullough, First United's lead director, "demanding" an explanation for the "misleading voting information and irregular vote tallies" in connection with First United's 2010 proposal to declassify its board. Abbott Cooper, Driver's founder and managing member, said: "During the course of our investigation into First United's poor corporate governance practices, we discovered a number of irregularities in connection with the Company's proposal to declassify the Board that was voted on at the 2010 Annual Meeting of Shareholders of the Company (the "2010 Annual Meeting"). Last week, we sent a letter to John McCullough, First United's Lead Director, demanding information about these irregularities, and we have yet to receive a response. It is bad enough that shareholders have been stuck with a classified Board structure that reduces directors' accountability to shareholders, despite the fact that more than 60% of all outstanding shares entitled to vote at the 2010 Annual Meeting were voted in favor of the Company's declassification proposal. For First United to fail to explain obvious voting irregularities on a proposal that represents a best practice of corporate governance is outright offensive. It is equally offensive that First United touts a so-called 'commitment' to good governance even though it has never again taken the necessary steps to seek to declassify the Board. We were also deeply troubled to discover that Mr. McCullough and the six other directors who remain on the Board today misreported First United's 'Say-on-Pay' proposal votes in both 2009 and 2010, demonstrating yet another example of the Company's apparent disregard for proper shareholder oversight.1 This inaccurate public disclosure - spanning two years - which was never corrected, was a serious blunder that allowed the Board and management to benefit as the Company appeared to effectively gift itself more votes in support of its Say-on-Pay proposal, to approve what we believe was excessive compensation for the Company's executive officers immediately after the Great Recession. We find the Board's pattern of ineffective oversight to be egregious, and we urge shareholders to reject the status quo of a Board that seems to habitually abuse shareholder rights while hollowly claiming it is committed to corporate governance."

08:11 EDT Twitter sees FY20 total expense growth considerably less than previous 20% view - Sees Q2 expenses "meaningfully below" y/y growth observed in Q1, likely closer to a year-over-year percentage growth rate in the low teens.

08:10 EDT Vectrus wins position of $6.4B AFCAP V contract vehicle - Vectrus's wholly-owned subsidiary Vectrus Systems was awarded a position on the Air Force Contract Augmentation Program, AFCAP V, which is a $6.4B indefinite-delivery/indefinite-quantity contract vehicle. Vectrus was one of eight companies selected for a position on the not-to-exceed $6.4B worldwide contingency and humanitarian support contract. The work is expected to be completed by May 31, 2031.

08:08 EDT Twitter advertising revenue declined approx. 27% y/y from March 11-31 - In its shareholder letter, Twitter said total advertising revenue in Q1 was $682 million, up approximately $3 million compared to last year. "The quarter was, however, best seen as two distinct periods: January through early March, which largely performed as expected, with strength in the US and some COVID-19 related weakness in Asia, and early March through the end of the quarter, when the pandemic became global. As an indication of the rapid change in advertising behavior, from March 11 (when many events around the world began to be canceled and many in the US began sheltering in place) until March 31, our total advertising revenue declined approximately 27% year over year. The downturn we saw in March was particularly pronounced in theUS, and advertising weakness in Asia began to subside as work and travel restrictions were gradually lifted."

08:06 EDT Eiger BioPharmaceuticals: First COVID-19 patients dosed with lambda - Eiger BioPharmaceuticals announced that the first patients have been dosed in a Phase 2 study of peginterferon lambda in outpatients with mild COVID-19 at the Stanford University School of Medicine. Approximately 120 patients will be randomized 1:1 to a single subcutaneous dose of Lambda or normal saline placebo to evaluate the efficacy of Lambda in reducing the duration of viral shedding of SARS-CoV-2 virus and in reducing duration of symptoms and hospitalization in patients with mild COVID-19. Patients will be followed for 28 days.

08:04 EDT Inovio expanding COVID-19 vaccine production with $1.3M CEPI grant - Inovio has entered into an agreement to expand its manufacturing partnership with the German contract manufacturer Richter-Helm BioLogics to support large-scale manufacturing of Inovio's investigational DNA vaccine INO-4800, which currently is in Phase 1 clinical testing in the U.S. for COVID-19 and could potentially advance to Phase 2/3 efficacy trials this summer. The agreement is being partly funded by an initial grant of $1.3M from the Coalition for Epidemic Preparedness Innovations, CEPI, which brings CEPI's total support to date for the development of INO-4800 to $17.2M. Inovio has been working with Richter-Helm, which manufactures Inovio's DNA medicine candidate VGX-3100, since 2014.

07:58 EDT Hill International to provide project management for bakery transformation - Hill International announced that it has been selected by BaseCamp Student to provide project management services for a new project in Wroclaw: the transformation of the historic Mamut bakery into student housing and a four-star hotel. Since the beginning of the 20th century, the former Mamut bakery complex on Sienkiewicza Street in Wroclaw was one of the largest bakeries in Europe, processing 8 tons of bread per day in 1945. The historic complex will now receive a second life, transformed by the renovation and adaptation of its two buildings. In less than three years, the Mamut bakery will become a modern, 775-room student apartment building with a wide range of multipurpose common spaces, serving students attending any of the many colleges and universities in Wroclaw. Recently, the new design of the facilities was revealed by Grupa 5 Architekci, the designers engaged to create a modern living space while preserving the architectural uniqueness of the buildings. As part of the new complex, a new four-star, six-story hotel will be built, opposite the famous Botanical Garden of the University of Wroclaw. This hotel, the future Hotel Vienna House Easy Wroclaw, will offer 236 double rooms and four apartments. The facility will also include a 360-SM conference center, a fitness area, a restaurant, a lobby with bar, and an underground car park. Hill International will provide project management and multidiscipline technical supervision services for the approximately 45,000-SM project.

07:53 EDT Marinus Pharmaceuticals forms scientific advisory board - Marinus Pharmaceuticals announced the formation of a Scientific Advisory Board with the appointment of six leading experts in clinical neurology and seizure disorders: Jacqueline French, M.D., Lawrence Hirsch, M.D., Aatif Husain, M.D., Michael Rogawski M.D., Ph.D., Eugen Trinka, M.D. and Henrikas Vaitkevicius, M.D. Jacqueline French, M.D., Professor of Neurology in the Comprehensive Epilepsy Center at NYU Langone School of Medicine and Founder/Director of the Epilepsy Study Consortium, an academic group that has performed several early phase clinical trials in epilepsy. Lawrence Hirsch, M.D., Professor of Neurology, Chief of Division of Epilepsy and Electroencephalography, and Co-Director of the Yale Comprehensive Epilepsy Center. Aatif Husain, M.D., Professor of Neurology and Division Chief of Epilepsy, Sleep, and Clinical Neurophysiology at the Duke University School of Medicine, is a world-renowned expert in clinical neurophysiology, with experience serving as president of the American Clinical Neurophysiology Society, treasurer of the International Federation of Clinical Neurophysiology. Michael Rogawski M.D., Ph.D., Professor of Neurology and Pharmacology at the University of California, Davis School of Medicine is an internationally recognized expert on drug discovery and development for epilepsy, with a research focus on neuroactive steroids. Eugen Trinka, M.D., Professor and Chairman of the Department of Neurology, Christian Doppler University Hospital at the Paracelsus Medical University in Salzburg, Austria. Henrikas Vaitkevicius, M.D., is an Attending Neurologist in the Neurocritical Care, Hospital Neurology, Neurological Infections, Inflammatory Diseases, and Stroke Divisions of Brigham and Women's Hospital Department of Neurology.

07:51 EDT Liquidia Technologies releases LIQ861 results from Phase 3 INSPIRE study - Liquidia Technologies announced that it has released final safety and tolerability results from the two-month endpoint of the pivotal phase 3 INSPIRE trial that evaluated LIQ861 in patients with pulmonary arterial hypertension. Detailns from this late-breaking abstract were provided as an ePresentation on ISHLTv, an online platform designed as an alternative to the face-to-face scientific exchange originally scheduled at the International Society for Heart & Lung Transplantation Annual Meeting. LIQ861 is an investigational, inhaled dry powder formulation of treprostinil designed and engineered using Liquidia's novel PRINT technology with the goal of enhancing deep-lung delivery of treprostinil in PAH patients by means of a convenient, palm-sized dry powder inhaler. In the INSPIRE trial, LIQ861 was observed to be well-tolerated in 121 patients, with 113 patients completing their two-month visit. During that period, LIQ861 was evaluated at doses ranging from 26.5 mcg to 159 mcg with no study-drug related serious adverse events observed. Reported treatment-emergent adverse events were mostly mild to moderate in nature, the most common being cough, headache, throat irritation, dizziness, diarrhea, chest discomfort, nausea, dyspnea, flushing and oropharyngeal pain. The New Drug Application for LIQ861 was submitted to the U.S. Food and Drug Administration under the 505(b)(2) regulatory pathway and includes data from three clinical studies to establish the safety, tolerability and pharmacokinetic profile of LIQ861. On April 8, 2020, Liquidia announced the FDA had accepted the NDA for review and that it had been provided a Prescription Drug User Fee Act goal date of November 24, 2020.

07:48 EDT Kopin receives $2.7M follow-on order for F-35 displays - Kopin announced it has received an approximately $2.7M follow-on order of its high-brightness liquid crystal display for the F-35 Joint Strike Fighter program. With the F-35 scheduled for production through 2030, Kopin expects additional orders over the life of the program. The F-35 is a family of single-seat, single-engine, all-weather, day and night stealth, multirole combat aircraft. The jet is designed to perform both air superiority and strike missions while also providing electronic warfare and intelligence, surveillance and reconnaissance. Much of the functionality is enabled through the augmented reality, or AR, helmet, which provides the pilot with vast quantities of flight, tactical, and sensor information for advanced situational awareness, precision and safety. The extensive functionality and extreme conditions require unique display technology and Kopin is the sole supplier to this production program. The F-35 strike fighter aircraft is being procured in different configurations for multiple arms of the DOD, including the United States Air Force, Marine Corps, and Navy. The 500th production F-35 was delivered in March 2020 and the current DOD plan is to acquire a minimum of 2,400 jets over the life of the program. In addition, US Allies are expected to purchase hundreds of F-35s with eight nations cost-sharing the program with the United States. With replacements, the total number of displays for the F-35 program is very substantial.

07:48 EDT Seeco Holding announces share repurchase program up to $20M - Secoo Holding announced that its Board of Directors has approved a share repurchase program whereby Secoo is authorized to repurchase its own Class A ordinary shares in the form of American Depositary Shares with an aggregate value of up to $20 million during the next twelve-month period, starting from April 30, 2020, the effective date of the program.

07:45 EDT Calithera to present Teleglenastat KEAPSAKE trial abstract - Calithera Biosciences announced that an abstract describing a Phase 2 study of telaglenastat, the company's glutaminase inhibitor, will be presented at the American Society of Clinical Oncology 2020 Virtual Annual Meeting. The KEAPSAKE study will explore telaglenastat versus placebo in combination with a standard-of-care regimen of immunotherapy and chemotherapy as first-line treatment for patients with non-small cell lung cancers with KEAP1/NRF2 mutations. These mutations, which occur in an estimated 20 percent of NSCLC patients, are associated with aggressive tumor growth and poor outcomes to standard-of-care therapy. Title: A phase II randomized study of telaglenastat, a glutaminase inhibitor, versus placebo, in combination with pembrolizumab and chemotherapy as first-line treatment for KEAP1/NRF2-mutated non-squamous metastatic non-small cell lung cancer.

07:44 EDT Zentalis announces FDA clearance of IND application for ZN-d5 - Zentalis Pharmaceuticals announced that the U.S. Food and Drug Administration has cleared the Company's Investigational New Drug application for ZN-d5, an oral selective inhibitor of B-cell lymphoma 2 initially in development for the treatment of hematologic malignancies.

07:43 EDT Mesoblast begins enrollment in Phase 2/3 trial of remestemcel-L - Mesoblast announced a Phase 2/3 randomized, placebo-controlled trial to rigorously confirm whether its allogeneic mesenchymal stem cell therapy remestemcel-L provides a survival benefit in moderate/severe acute respiratory distress syndrome due to COVID-19 has commenced enrollment. More than 20 medical centers across the United States will participate in the trial which is expected to complete enrollment within three to four months, with interim analyses planned which could result in stopping the trial early for efficacy or futility. The specific clinical protocol for use of remestemcel-L in patients in this trial was informed by the previously reported positive results from the emergency compassionate use protocol patients with COVID-19 ARDS. In line with specific guidance provided by the FDA for robust statistical analysis, the placebo-controlled trial will enroll up to 300 ventilator-dependent patients in intensive care units with moderate to severe COVID-19 ARDS randomized to receive either two intravenous infusions of remestemcel-L within five days or placebo on top of maximal care. The primary endpoint is all-cause mortality within 30 days of randomization, with the key secondary endpoint being the number of days off mechanical ventilator support.

07:40 EDT Hubbell reduces senior executive salaries by 25%, other executives by 15% - The company said, "As a leading supplier of critical infrastructure components, Hubbell is generally deemed an essential manufacturer by various authorities in the localities where we operate, and therefore almost all of our facilities remain open and fully operational. However, local regulatory closures in the first quarter temporarily impacted a limited number of our sites which have since returned to full operation. We currently expect further disruptions in the second quarter, including recent local regulatory closures in late April of two large Mexico facilities, which may temporarily impact our supply chain in the second quarter. We anticipate that the disruption in economic activity as a result of the COVID-19 pandemic will have an adverse impact across most of our Electrical end markets, and orders in the Electrical segment are down approximately 20% month-to-date in April. In our Utility Solutions segment, our Power Systems business continues to see strong demand for T&D components, supported by double digit orders growth in the first quarter and month-to-date in April. We expect our Aclara business to face near-term revenue headwinds from project delays on smart infrastructure deployments. "As we consider the anticipated challenges we expect to face as a result of COVID-19, we have reviewed all aspects of our business to determine a series of cost management actions to sustain the organization through this economic uncertainty," said Mr. Nord. These actions include: The Board of Directors will forego its quarterly retainer payments for the second quarter; Senior executives will take a 25% salary reduction in the second quarter; All other executives will take a 15% salary reduction in the second quarter; Salaried employees will take a 2 week furlough sometime during the second quarter; Various other discretionary cost reduction and cash preservation actions. Concurrent with these cost actions, we are also providing additional support to our hourly employees who manufacture the products that are essential to our communities. To that end, we are paying all applicable hourly employees with additional appreciation bonus pay during the second quarter. To maximize our financial flexibility, the Company has also drawn $225 million of an available $750 million on its revolving credit facilities. $125 million of this revolver draw was executed following the close of first quarter financial results, and therefore is not reflected in our March ending balance sheet. These were proactive measures to further bolster our strong liquidity position."

07:37 EDT Palatin provides operational update - Palatin provided an update on business operations as a result of the global COVID-19 pandemic. Assuming partial opening of economic activities by mid-2020, senior management believes there will be limited impact of the pandemic on operations. A Phase 2 clinical study with PL9643 for dry eye disease started in January. Palatin anticipates restarting enrollment in June. Data readout remains on track for Q4, no delay due to COVID-19. A Phase 2 proof-of-concept clinical study with an oral formulation of PL8177 in ulcerative colitis patients is now targeted to start in the first-half of calendar year 2021, with data readout in the first-half of calendar year 2022, a two quarter delay. The company continues its assessment and development work related to the treatment of patients with diabetic retinopathy, with an IND targeted for mid-calendar year 2021, no delay. Anticipates filing an IND and commencing clinical trials with PL8177 for non-infectious uveitis in the second-half of calendar year 2021, a one quarter delay. Palatin continues discussions on Vyleesi collaborations for territories outside the currently licensed territories of North America, China, and Korea, and anticipates executing multiple agreements during the second-half of calendar year 2020 and calendar year 2021. PL3994, an NPR-A agonist, will be evaluated in a Phase 2a clinical study in heart failure patients with preserved ejection fraction. The study is now anticipated to start patient enrollment in the second half of calendar year 2020, a one quarter delay. Palatin's cash and cash equivalents of $88.9M as of March 31 represents cash runway of at least two years based on projected operations.

07:35 EDT IntercontinentalExchange sees 2020 GAAP operating expenses $2.607B-$2.657B - ICE's full year 2020 GAAP operating expenses are expected to be in a range of $2.607B-$2.657B and adjusted operating expenses are expected to be in a range of $2.320B-$2.37B. ICE's full year 2020 capital expenditures are expected to be in a range of $300M-$330M.

07:34 EDT American Airlines reports Q1 capacity down 6.9%, traffic down 17.6%

07:32 EDT American Airlines estimates reduction of over $12B in 2020 op, CapEx - American estimates a reduction of more than $12 billion in its 2020 operating and capital expenditures, achieved through lower fuel expense and a series of actions. The company Reduced system capacity by approximately 80% in both April and May, and 70% in June, including schedule changes announced today. Accelerated the retirement of four aircraft types, consisting of 20 Embraer 190s, 34 Boeing 757s, 17 Boeing 767s and nine Airbus A330-300s, along with a number of older regional aircraft. These changes remove operating complexity and bring forward cost savings and efficiencies associated with operating fewer aircraft types. Suspended all nonessential hiring, paused noncontractual pay increases, reduced executive and board compensation, and implemented voluntary leave and early retirement programs to reduce labor costs. In total, nearly 39,000 team members have opted for an early retirement, a reduced work schedule or a partially paid leave. Deferred marketing expenditures and reduced contractor, event and training expenses. Consolidated its footprint at its airport facilities.

07:29 EDT Molson Coors reduces capital expenditures by approximately $200M - The company is reducing 2020 capital expenditures by approximately $200M, substantially reducing discretionary spending, limiting new hiring and significantly decreasing marketing spend corresponding to the current environment. Additionally, Molson Coors is furloughing certain employees in its Europe business and North America hospitality businesses, shifting marketing investments to focus on key media platforms that consumers are at and eliminating spend that will not deliver value in the current environment. The company is using savings from its revitalization program to protect its cash and liquidity position, given the uncertainty in the economy, while utilizing its revolving credit facility when necessary and leveraging government payment deferral programs to provide enhanced financial flexibility and short-term liquidity. In addition, the company and its board are actively evaluating various capital allocation options, including a suspension, reduction or temporary elimination of our dividend. Beyond the products the company has in the market, it is also adapting the way we get them to consumers by accelerating our e-commerce efforts, subject to relevant government regulations. The company is launching new e-commerce tools like a product locator for online purchases. The company said, "This is a very fluid situation, as governments and companies evaluate the impacts of the pandemic and prepare for the re-opening of the economy. We will continue to take prudent and proactive actions which are in the best interests of the Company, our employees, consumers, customers and our stockholders as things become clearer in this rapidly evolving situation. Our decisions will be guided by, and consistent with, the Company's overall financial discipline, ensuring adequate liquidity and our continued desire to maintain our investment grade rating. As we contemplate taking additional actions to navigate this unprecedented environment, we remain mindful of not taking any steps that would have unintended negative ramifications to our business or that would jeopardize our medium or long-term success."

07:27 EDT Spectrum initiates same day dosing clinical trial for ROLONTIS - Spectrum Pharmaceuticals announced dosing of the first patient in a clinical trial to evaluate the administration of ROLONTIS on the same day as chemotherapy. The trial will evaluate the duration of severe neutropenia when administered at three different time points on the same day following standard chemotherapy in patients with early stage breast cancer. ROLONTIS is an investigational drug not approved by the FDA and the BLA is currently under active review by the agency for the treatment of chemotherapy induced neutropenia with a PDUFA date of October 24.

07:26 EDT Element Solutions COO Scot Benson to retire - Element Solutions announced the upcoming retirement of Scot Benson from his current role as President and COO of the company, effective June 15. Benson will continue to serve as a member of the board.

07:23 EDT BeyondSpring sees sufficient cash to submit NDAs for Plinabulin - As of December 31, 2019, the Company had a cash balance of $35.9 million. The Company believes that it has sufficient cash to support its clinical trials and submit NDAs in the U.S. and China for Plinabulin for the CIN and NSCLC indications, as well as to advance its immuno-oncology pipeline and ubiquitination protein degradation research platform

07:20 EDT McDonald's CEO: Pandemic has 'significantly disrupted our business'

07:18 EDT Goodyear Tire plans phased restart of production during Q2 - Goodyear continues to evaluate its production plans around the world in light of the COVID-19 pandemic. Most of the company's manufacturing facilities in the Americas and Europe, as well as several of its tire plants in Asia, were closed to protect the safety and well-being of its associates and conserve cash. The company plans a phased restart of production during the second quarter, which began earlier this month with some of its commercial truck tire facilities in the U.S. and Europe. The company expects the majority of its manufacturing facilities to resume operations by the end of May. Decisions regarding production will be based on an evaluation of market demand signals, inventory and supply levels, as well as the company's ability to safeguard the health of its associates. The company's plant in Pulandian, China is operating with 100% of its workforce, but is not yet operating at full capacity. The facility is expected to continue ramping up production during the second quarter. Throughout the COVID-19 pandemic, Goodyear has prioritized the health and well-being of its associates and the communities where it operates. The company is implementing new protocols covering employee screening and other protective measures recommended by the Centers for Disease Control and Prevention to ensure the safety and well-being of its associates as operations gradually resume.

07:17 EDT Goodyear Tire reports Q1 tire unit volumes 31.3M, down 18% y/y - Tire unit volumes totaled 31.3M, down 18% from the prior year's period. Replacement tire shipments declined 16%, driven by a severe contraction in industry demand following shelter-in-place mandates and sharp declines in consumer confidence. Original equipment unit volume decreased 21%, driven by declines in OE demand after global auto manufacturers suspended vehicle production in response to the rapid spread of COVID-19.

07:16 EDT Altra Industrial Motion reduces Q2 dividend to 4c per share - The company said, "Altra is managing through the COVID-19 pandemic with the guiding principle of safeguarding its employees, customers and shareholders. Altra's top priority is always the safety of its employees. In the first-quarter, Altra formed a Pandemic Response Team to identify and assess risks and developed countermeasures following the guidance from national, state and local governmental and health authorities. Altra quickly implemented a variety of best practices including travel restrictions; work-from-home policies for employees able to work remotely; and social distancing, personal protective equipment, temperature monitoring, enhanced cleaning protocols and other safety best practices to protect on-site personnel. The Company also formed a Business Continuity Task Force charged with ensuring continuity of supply for its customers. To date, Altra has experienced minimal supply chain disruption, attributed in part to the essential nature of Altra's products and business. During the February to April period, 13 of Altra's 53 global manufacturing facilities were temporarily shut down for varying lengths of time as a result of the pandemic and local government mandates. At this time, the vast majority of the affected manufacturing facilities are open and operational again. Altra also has taken several proactive measures to protect the Company's balance sheet and strengthen its liquidity position, including: Accelerating cost reductions through corporate furloughs, merit increase suspensions, executive wage rollbacks, discretionary spending reductions and savings as a result of suspending corporate travel, Leveraging government work programs and tax deferrals and extensions to the extent they do not incur interest rate fees or penalties, Taking a $100 million draw down on the Company's revolver in March 2020, $50 million of which subsequently was paid back after the close of the quarter; and Terminating Altra's cross-currency interest rate swaps, which resulted in a $56.2 million cash benefit. Reducing second quarter 2020 dividend to $0.04 per share. Reducing the dividend will enhance our ability to manage through the uncertainty in the markets, help strengthen our balance sheet and provides optionality for investing in future growth.At the end of the quarter, our cash balance and availability under the revolving credit facility totaled approximately $525 million."

07:13 EDT On Deck Capital sees a reduction in Q2 origination volume of 80% - On Deck Capital expects financial results to reflect the following trends: portfolio contraction reflecting an 80% or more reduction in second quarter origination volume, increased delinquency and charge-offs stemming from COVID-related economic deterioration, reduced Net Interest Margin reflecting a lower portfolio yield, and reduced operating expenses as we took actions to cut second quarter expenses by approximately 25%. The Allowance for credit losses and financial outlook for 2020 assume the macro-economic, small business lending and capital market environments remain stressed in the near-term with a recovery path beginning in the second half of 2020.

07:10 EDT Agios Pharmaceuticals sees cash, cash equivalents sufficient through June 2022 - Cash, cash equivalents and marketable securities as of March 31, 2020 were $613.1 million compared to $707.8 million as of March 31, 2019. As a result of the company's cash conservation actions, the company expects that its cash, cash equivalents and marketable securities as of March 31, 2020, together with anticipated product and royalty revenue, anticipated interest income, and anticipated expense reimbursements under our collaboration and license agreements, but excluding any additional collaboration-related payments, will enable the company to fund its anticipated operating expenses and capital expenditure requirements through June 2022.

07:09 EDT Agios Pharmaceuticals updates status of clinical programs - ACTIVATE: Ongoing pivotal trial of mitapivat in adults with PK deficiency who do not regularly receive transfusions: Enrollment is complete with 80 patients. Topline data are now expected between the end of 2020 and mid-2021 versus previous guidance of the end of 2020; the potential delay is due to anticipated challenges with clinical trial site access after the last patient has completed the study. ACTIVATE-T: Ongoing pivotal trial of mitapivat in adults with PK deficiency who regularly receive transfusions: Enrollment is complete with 27 patients.Topline data are now expected between the end of 2020 and mid-2021 versus previous guidance of the end of 2020; the potential delay is due to anticipated challenges with clinical trial site access after the last patient has completed the study. Thalassemia Phase 2: Ongoing proof-of-concept trial of mitapivat in alpha- and beta-thalassemia: Enrollment is complete with 20 patients. Data on 13 patients will be presented at EHA in June. Sickle Cell Disease Phase 2: Ongoing proof-of-concept trial of mitapivat in sickle cell disease being run under a Cooperative Research and Development Agreemen with the U.S. National Institutes of Health: New enrollment is paused as a result of the COVID-19 pandemic. The decision on proof-of-concept for mitapivat in sickle cell disease remains on track for mid-2020. Data are expected to be submitted by NIH for presentation at the American Society of Hematology Annual Meeting in December. AG-946 Phase 1: First-in-human study of next-generation PKR activator in healthy volunteers: Study initiation is expected in mid-2020. TIBSOVO Phase 1: Relapsed and Refractory AML EU FilingThe EU regulatory process for TIBSOVO in relapsed and refractory AML remains on track with a CHMP opinion expected by the end of 2020. AGILE: Ongoing Phase 3 trial of TIBSOVO in combination with azacitidine in frontline AML: Enrollment completion is now expected in 2021 versus previous guidance of the end of 2020; this delay is due to COVID-19 related delays in site start-up activities and enrollment interruptions. HOVON150/AMLSG29: Ongoing intergroup-sponsored Phase 3 trial of TIBSOVO or IDHIFA in combination with standard induction and consolidation chemotherapy in frontline AML: Enrollment has slowed as a result of COVID-19 related delays in site start-up activities and enrollment interruptions. Agios intends to provide an update on expected timing of enrollment completion when site activation is complete and patient enrollment has returned to expected levels. Myelodysplastic Syndrome: Ongoing expansion arm of the Phase 1 trial of TIBSOVO in hematologic malignancies: Enrollment completion is now expected in 2021 versus previous guidance of the end of 2020; this delay is due to COVID-19 related delays in site start-up activities and enrollment interruptions. AG-636 Phase 1: First-in-human dose-escalation trial of DHODH inhibitor in lymphoma: As a result of limited enrollment in the study, Agios will stop in-house development of AG-636 and evaluate partnering options. ClarIDHy: Ongoing Phase 3 trial of TIBSOVO in previously treated cholangiocarcinoma: Agios still expects mature overall survival data from the study in mid-2020, but anticipates delays in collecting the data from trial sites and executing the data cleaning process. Agios now expects to file a supplemental new drug application for TIBSOVO in previously treated cholangiocarcinoma between the end of 2020 and mid-2021 versus previous guidance of the end of 2020. INDIGO: Ongoing Phase 3 trial of vorasidenib in low-grade glioma: Enrollment has slowed as a result of COVID-19 related delays in site start-up activities and enrollment interruptions. Agios intends to provide an update on expected timing of enrollment completion when site activation is complete and patient enrollment has returned to expected levels. AG-270 Phase 1: Ongoing dose-escalation arms evaluating AG-270 in combination with taxanes in non-small cell lung cancer and pancreatic cancer: Enrollment has slowed as a result of COVID-19 related delays at trial sites. A go/no-go decision is still expected no later than 2022. Agios remains on track to name a new development candidate by the end of the year. Agios conducted a prioritization exercise and made the decision to pause certain research programs, including its program in Friedreich's Ataxia.

07:07 EDT Soligenix reports 'positive' Phase 3 FLASH study results - Soligenix announced that continued treatment with SGX301 twice weekly for 12 weeks increased the positive response rate to 40% in the open-label treatment cycle of its pivotal Phase 3 FLASH study for the treatment of early-stage cutaneous T-cell lymphoma. These highly statistically significant results confirm the benefit of continued SGX301 treatment in CTCL patients. "As anticipated, the data continues to become more compelling with extended SGX301 treatment," stated Ellen Kim, MD, Director of the Dermatology Clinic, Perelman Center for Advanced Medicine and Lead Investigator of the FLASH study. "This treatment response is comparable to other, less safe, treatment alternatives, showing a statistically significant response at just 6 weeks, which continues to significantly increase with more treatment. The response rate at 12 weeks is similar to other therapies, some of which patients must take for more than a year. In addition to the efficacy demonstrated, SGX301 remains well tolerated with a unique mechanism of action that is not associated with DNA damage like other currently available therapies. I look forward to working with Soligenix to move this important new therapy forward with US Food and Drug Administration so that patients may access it as soon as possible."

07:06 EDT Agios Pharmaceuticals expects delays in clinical programs - The company said, "To date, patient and physician demand for TIBSOVO - an oral therapy for AML - has not been negatively impacted by the COVID-19 pandemic. AML is a serious disease that progresses rapidly if untreated, and in most cases treatment delays are not recommended. Professional oncology guidelines for the treatment of cancer patients during the pandemic favor effective oral options with well tolerated safety profiles. Based on current inventory levels and a robust supply chain strategy, Agios does not anticipate interruptions to supply of TIBSOVO, even if extended disruptions to manufacturing operations were to occur as a result of the COVID-19 pandemic. In addition, Agios has taken steps to ensure new and existing TIBSOVO patients can access the medication. TIBSOVO can be delivered directly to patients' residences to ensure they can receive their medication even if they are homebound for a prolonged period of time. The myAgios patient assistance program has remained a constant resource for patients, including those who have lost health insurance due to unemployment. Based on these considerations, Agios continues to expect its 2020 TIBSOVO net U.S. revenue to be between $105 and 115 million. Because hospitals globally have shifted resources to treat patients with COVID-19, Agios expects some delays in its clinical programs based on anticipated challenges related to data collection, access to trial sites and patient enrollment. In February, Agios established a clinical trial task force to ensure the safety of patients in its clinical trials and to support patients on a case-by-case basis to enable their continued participation in the studies. Where appropriate, Agios has instituted home visits, telemedicine approaches, the use of local laboratories and courier shipments of investigational medicines. The status of each Agios clinical program, along with the expected impact of COVID-19, is outlined below. The ultimate extent of the impact of the COVID-19 pandemic on clinical trial enrollment, continuation and data collection will depend on future developments, which are highly uncertain."

07:04 EDT Comcast sees Cable Communications results negatively affected in Q2 - Our Cable Communications results, while strong in the first quarter 2020, will be negatively affected in the second quarter by the significant deterioration in domestic economic conditions in recent weeks and by the costs associated with our support of customer connectivity as the population increasingly works and learns remotely from home. NBCUniversal and Sky results also will be negatively impacted to a greater extent in the second quarter 2020. As a result, we expect the impacts of COVID-19 to increase in significance in the second quarter 2020 and to have a material adverse impact on our consolidated results of operations over the near-to-medium term.

07:02 EDT McDonald's: Substantially all U.S. restaurants operating Drive-thru, Delivery - Substantially all U.S. restaurants are operating Drive-thru, Delivery, & Take-away only. Markets, such as Australia, Canada, Germany and Russia have limited operations, which could include Drive-thru, Delivery and/or Take-away; some restaurants within these markets are temporarily closed, have limited hours, menus and/or restricted capacity. Several markets, such as France, Italy, Spain and the United Kingdom, have temporarily closed substantially all restaurants. China has resumed operations in 99% of restaurants, although the market continues to experience a reduced level of demand as consumers have not fully returned to their pre-COVID routines. Japan has limited operations including Drive-thru, Delivery and Take-away only, in substantially all restaurants. Brazil has 65% of restaurants operating, the majority of which have limited operations.

07:00 EDT McDonald's began 2020 with 'exceptional' global momentum - "Following our strong performance in 2019, McDonald's began 2020 with exceptional global momentum, and our January and February sales were reflective of that trend. Since then, the global crisis caused by the COVID-19 pandemic has significantly disrupted our business, and we continue to operate in a very challenging and unpredictable environment," said McDonald's President and CEO Chris Kempczinski. "McDonald's has seen a lot over our 65 years and I'm confident that the actions we're taking will enable us to emerge from this crisis in a position of competitive strength. The determination and team spirit across the McDonald's System is evident as we continue to offer affordable, convenient food while at the same time providing for the safety of our crew and customers and continuing our legacy of supporting local communities in which we operate."

06:57 EDT Tempur Sealy provides update amid COVID-19 pandemic - The company is studying, responding and optimizing its operations related to the challenges from theCOVID-19 crisis. The company has taken and continues to take precautionary measures to mitigate health risks during the evolving situation resulting from COVID-19. In addition, the company is working with various government and healthcare organizations to provide products and services in this time of crisis. The company has experienced a major reduction in total net sales since COVID-19 began materially impacting business in mid-March. Order trends were down 80% for a few days in early April with Q2 to date 2020 orders down approximately 55% as compared to the same period in 2019. The business has a highly variable cost structure that naturally adjusts with changes in sales. However, given the sudden and significant change in volume, actions were quickly implemented to further mitigate the financial impact. These actions included reducing expenses by approximately $300M on an annualized basis. Additionally, the company ceased share repurchases, began supporting medical relief efforts and increased support for charitable organizations. The company has no significant debt maturities until 2023 and has approximately $300M of liquidity, including $197M of cash on hand as of March 31 and approximately $100M available under its revolving credit facility. The company does not see material issues with any debt agreements based on current known facts and circumstances. However, given the uncertainty of this crisis, the company has initiated discussions with commercial banks to secure additional short-term liquidity.

06:51 EDT Lazard sees 'challenging environment in the near-term' - The company said, "The timing of a recovery is uncertain, but will be driven by the course of the pandemic and the efficacy of economic stimulus on the economy. We expect a challenging environment in the near-term from elevated uncertainty, capital markets volatility, lower asset valuations and a downturn in global M&A activity. We believe that our strong financial position, the diversity of our business, and our consistent focus on cost discipline will enable us to weather the economic downturn."

06:47 EDT Proto Labs: Ultimate financial impact of pandemic 'unknown at this time'

06:46 EDT W.R. Grace sees Q2 gross margin down 500-800 bps y/y

06:44 EDT W.R. Grace has shifted over 1,800 employees to remote working - W.R. Grace says in slides being presented on its Q1 earnings conference call that the COVID-19 pandemic does not change its strategy or long-term value of its growth plan. Management is "prepared" to take additional actions if necessary.

06:41 EDT Royal Dutch Shell will not continue next tranche of share buybacks - Shell announced a series of operational and financial initiatives that are expected to result in reduction of underlying operating expenses by $3B-4B per annum over the next 12 months compared with 2019 levels; reduction of cash capital expenditure to $20B or below for 2020 from a planned level of around $25B; and material reductions in working capital. In addition, Shell has decided not to continue with the next tranche of the share buyback programme following the completion of the most recent tranche.

06:40 EDT Royal Dutch Shell sees Q2 Upstream production 1,750 - 2,250 thousand boe/d - As a result of COVID-19, there is significant uncertainty in the expected macroeconomic conditions with an expected negative impact on demand for oil, gas and related products. Furthermore, recent global developments and uncertainty in oil supply have caused further volatility in commodity markets. The second quarter 2020 outlook provides ranges for operational and financial metrics based on current expectations, but these are subject to change in the light of current evolving market conditions. Due to demand or regulatory requirements and/or constraints in infrastructure, Shell may need to take measures to curtail or reduce oil and/or gas production, LNG liquefaction as well as utilisation of refining and chemicals plants and similarly sales volumes could be impacted. These measures would likely have negative impacts on Shell's operational and financial metrics. Integrated Gas production is expected to be approximately 840 - 890 thousand boe/d. LNG liquefaction volumes are expected to be approximately 7.4 - 8.2 million tonnes. More than 90% of the term contracts for LNG sales are oil price linked with a price lag of typically 3 - 6 months. Upstream production is expected to be approximately 1,750 - 2,250 thousand boe/d. Refinery utilisation is expected to be approximately 60% - 70%. Oil Products sales volumes are expected to be approximately 3,000 - 4,000 thousand b/d. Corporate segment earnings excluding identified items are expected to be a net expense of approximately $800 - 875 million in the second quarter 2020 and a net expense of approximately $3,200 - $3,500 million for the full year 2020. This excludes the impact of currency exchange rate effects.

06:38 EDT Lloyds Banking board to decide on future dividends at year-end 2020 - CEO Antonio Horta-Osorio said: "In conjunction with this decision and in solidarity with the communities in which we operate, the whole of the Group Executive Committee have asked not to be considered for their Group Performance Share for 2020,meaning that they will give up all of their bonus entitlement for 2020. In addition no cash bonuses are payable to senior staff for the rest of 2020."

06:36 EDT Bio-Techne announces update, develops resources for SARS-CoV-2 detection - The company said, "COVID-19 negatively impacted sales growth during the third quarter of fiscal year 2020 due to numerous customer site shutdowns that occurred in our academia and Bio-Pharma end-markets, particularly in the last several weeks of the quarter. We estimate these customer site shutdowns negatively impacted our third quarter fiscal year 2020 sales by approximately 3%. Customer site shutdowns will continue to have a negative impact on sales while they remain in effect, and we are currently unable to forecast the impact given uncertainty over the duration of the COVID-19 pandemic. We are anticipating a positive long-term outlook for future sales growth resulting from expected future funding increases within life-science research in response to the current pandemic. The Company has responded to COVID-19 by developing resources for SARS-CoV-2 detection, cytokine monitoring, and drug discovery, all which provide critical support in understanding the mechanisms of infection and developing effective treatments. The Company continues to pursue available opportunities to partner in the fight against COVID-19, which may partially offset the impact of our customer site closures. Adjusted EPS was negatively impacted by COVID-19 by an estimated $0.07-$0.09 in the third quarter of fiscal 2020. The COVID-19 impact on adjusted EPS was primarily due to the sales impacts described above. We anticipate the short- and long-term impacts of COVID-19 on adjusted EPS to be similar to that of sales growth. The Company remains in a strong financial position with sufficient available cash as well as access to additional funding if necessary, through our long-term debt agreement. We did not experience any material changes to our March 31, 2020 Balance Sheet resulting from COVID-19 for items such as additional reserves or asset impairments resulting from the pandemic. The Company remains fully operational as we abide by local "stay at home" orders across the world. To achieve this, the Company is utilizing a remote workforce where possible. For employees who are unable to work remotely, the Company adopted significant protective measures at our sites, including staggered shifts, and distancing and hygiene best practices recommended by the Center for Disease Control (CDC). In addition, the Company has taken additional steps to monitor and strengthen our supply chain to ensure we can maintain an uninterrupted supply of our critical products and services."

06:34 EDT Royal Dutch Shell slashes dividend for first time since World War II - The Board of Royal Dutch Shell announced an interim dividend in respect of the first quarter of 2020 of 16c per A ordinary share and B ordinary share, reduced from the 47c dividend for the same quarter last year. The pace and scale of the societal impact of COVID19 and the resulting deterioration in the macroeconomic and commodity price outlook is unprecedented. The duration of these impacts remains unclear with the expectation that the weaker conditions will likely extend beyond 2020. In response, Shell has taken decisive actions to reduce our spending and position our businesses to compete in the current lower commodity price environment and uncertain demand outlook. The Board of Royal Dutch Shell has taken the decision to reset its dividend to provide financial resilience and further flexibility to manage the uncertainty. Shell is taking the steps necessary to ensure that we are well-positioned for the eventual economic recovery. Chair of the Board of Royal Dutch Shell Chad Holliday commented: "Shareholder returns are a fundamental part of Shell's financial framework. However, given the risk of a prolonged period of economic uncertainty, weaker commodity prices, higher volatility and uncertain demand outlook, the Board believes that maintaining the current level of shareholder distributions is not prudent. Following the announcement not to continue with the next tranche of the share buyback program, the Board has also decided to reduce the first quarter 2020 dividend and reset to 16 US cents per share. As conditions allow, the Board will continue to evaluate our capital allocation priorities between ongoing investment in our business, maintaining a strong balance sheet and increasing returns to shareholders which remains our ambition."

06:29 EDT Pluristem announces MOU to receive EUR50M in funding for COVID-19 project - The European Investment Bank and the Israel Innovation Authority will sign a cooperation agreement to jointly pursue investment opportunities in the domain of bio-convergence in health. The agreement, initiated by kENUP Foundation, aims at deepening the links between Israel and the EU. In the context of this memorandum of understanding, or MOU, the EIB is supporting Pluristem through its German subsidiary Pluristem GmbH, with a venture debt loan of EUR50M. The company has recently extended its activity in response to the coronavirus pandemic and treated several COVID-19 patients with acute respiratory failure under the "compassionate use" program, a treatment option which allows the use of unauthorised medicine for severely ill patients. The financing will support Pluristem's research and development in the EU, notably its regenerative cell therapy platform. It will also allow the company to push its advanced clinical pipeline towards marketing. Pluristem will receive the financing in three tranches, subject to the achievement of pre-agreed clinical regulatory and scaling up milestones. The first tranche will consist of EUR20M. The company is the first Israeli-European business to benefit from a guarantee from the European Fund for Strategic Investments.

06:23 EDT Armada Hoffler provides COVID-19 mitigation measures update - Amanda Hoffer has suspended quarterly cash dividend on common stock and OP Units. The Board of Directors reduced compensation by 25%. CEO Louis Haddad elects is to reduce salary by 25%. As of April 24, collected 78% of total portfolio rents due for the month of April, including 100% of office tenant rents, 97% of multifamily tenant rents, and 57% of retail tenant rents. All third-party construction sites remain active and fully operational. Deferred the commencement of three development projects, postponed all asset acquisition activity, and suspended non-essential capital expenditures.

06:15 EDT Dow Inc. reports Q1 volumes down 2% - Volume declined 2% versus pro forma results in the year-ago period, and decreased 1% excluding the Hydrocarbons and Energy business. Demand grew in food, health and hygiene packaging; surfactants and solvents for cleaning; and coatings end-markets. However, these gains were more than offset by declines in polyurethanes and silicones applications, including automotive and durable goods. Sequentially, the company reported broadly lower volumes in China on slower economic activity with the onset of the COVID-19 pandemic and public health interventions.

06:10 EDT Stanley Black & Decker announces $1B cost reduction program - The company's cost reduction program is currently being implemented and is expected to deliver $1B in annualized cost savings with an approximate pre-tax charge of $160M expected to be primarily recognized during Q2. Jim Loree and all of the company's most senior executives, as well as all board members, have elected to forego 20% of their ongoing cash compensation at least for the remainder of the year. The company will also adjust its supply chain and manufacturing labor base to match the current demand environment. Stanley Black & Decker plans to substantially reduce indirect spending, staffing, compensation and benefits in a manner that ensures the company is prepared for a demand recovery at the appropriate time.

06:07 EDT Stanley Black & Decker to reduce capital expenditures, suspend share repurchases - Stanley Black & Decker plans to reduce capital expenditures and temporarily suspend acquisition-related activity and share repurchases until the demand outlook is clearer. The near term priority for capital deployment will be focused on deleveraging in line with credit ratings. From a portfolio perspective, the company is deferring the security strategic review until after the environment stabilizes.

06:01 EDT LKQ Corp. implements comprehensive cost reduction plans - "As the COVID-19 pandemic spread rapidly across the globe during the first quarter, our number one priority was, and continues to be, the health and safety of our employees, customers, vendor partners and the communities where we operate. Our businesses got off to an excellent start in January and February, carrying the strong momentum from 2019 on all fronts and reinforcing our key priorities of profitable revenue growth, accretive margins and cash flow generation. Through February, each of our segments was in line with or ahead of our revenue and profit expectations. As the restrictions on movement of people were imposed resulting in the decline of demand for our parts across all business segments, our financial results during the second half of March deteriorated. This reduced level of demand has continued, with April revenue down approximately 40% compared to the prior year, significantly impacting our near-term financial results. We anticipate a gradual improvement in revenue and profitability as governments around the globe begin the process of lifting the restrictions on mobility and opening their economies," stated Dominick Zarcone, President and CEO of LKQ Corporation. Zarcone further commented, "To help mitigate the business disruption caused by the COVID-19 pandemic, and to position LKQ for earnings growth when the U.S. and European economies rebound, we have taken decisive action and implemented comprehensive cost reduction plans throughout the enterprise, including substantial staffing adjustments. This focus on our cost structure and the variable nature of certain expenses has resulted in a potential annualized run-rate savings of more than $1 billion. As market conditions improve, we look forward to bringing our people back, so we can both fulfill the anticipated increase in demand and continue to provide industry leading levels of customer service."

05:51 EDT Nokia sees long-term non-IFRS operating margin 12%-14% - Nokia sees non-IFRS operating margin of 12%-14% in 3-5 years.