2020-02-03 08:33:58 VOXX Voxx
02/03/20 02/0308:33 02/03/2008:33 | VOXX acquires Vehicle Safety Holding Corp. for $16.5MVOXX announced the acquisition of Vehicle Safety Holding Corp. via an asset purchase agreement valued at $16.5M. VSHC, through its Vehicle Safety Manufacturing and Rostra Brands subsidiaries, is "a leading developer, manufacturer and distributor of safety electronics." VSHC will immediately become part of VOXX Automotive Corp. and financial results will be incorporated into the company's Automotive Electronics segment. On an annualized basis, VSHC is expected to add approximately $28M in net revenue and approximately $3M in Earnings Before Interest, Taxes, Depreciation and Amortization, with further improvements as synergies are realized. |
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Hot Stocks
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Fly Intel: Top five weekend stock stories »
20:11 06/26/22 06/2620:11 06/26/2220:11
SAVE
Spirit Airlines
Frontier Group
Apollo Global
Walgreens Boots Alliance
Lucid Group
Tesla
XPeng
Li Auto
Nio
Rivian Automotive
Warner Bros. Discovery
Paramount
Starbucks
General Motors
Cadre
D.R. Horton
Lennar
Toll Brothers
Cleveland-Cliffs
Nucor
Stelco Holdings
Steel Dynamics
U.S. Steel
Carvana
Catch up on the… Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Spirit Airlines (SAVE) announced that leading independent proxy advisory company Institutional Shareholder Services recommends Spirit stockholders vote FOR the merger agreement with Frontier Group (ULCC), parent company of Frontier Airlines. This recommendation follows a June 3 report from Glass, Lewis & Co., another leading independent proxy advisory company, also recommending that stockholders vote FOR the proposed merger. 2. Reliance Industries is in talks with several global banks to raise as much as $8 billion for its planned leveraged buyout of Walgreens Boots Alliance's (WBA) international arm, Mint's Anirudh Laskar reported. A consortium of Apollo Global (APO) and Reliance made a binding offer for Boots earlier this month that valued Boots at more than $6.1 billion. 3. The issue with Lucid (LCID) is not direct competition; the issue is valuation, Al Root wrote in this week's edition of Barron's. Lucid, with a value of about $29 billion, is priced at more than eight times 2023 sales of $3.5 billion. That's not just expensive relative to Polestar (PSNY) but also to XPeng (XPEV), NIO (NIO), Li Auto (LI), and Rivian Automotive (RIVN)-all EV companies with sales, but no free cash flow yet, that trade for around 2.6 times 2023 sales. The fundamental risk for Lucid-which sold roughly 500 cars in the past two quarters and is expected to sell about 13,000 in 2022-is that volumes will flatten out or decline as the upper end of the EV market gets saturated. That would be very bad news for Lucid's multiple, the author contended. 4. Warner Bros. (WBD) "Elvis" and Paramount's (PARA) "Top Gun: Maverick" tied for the top spot at the domestic box office this weekend with an estimated $30.5M. The winner won't be declared until Monday when final grosses are tallied. "Top Gun: Maverick" enjoyed a boost in its fifth outing as it was rereleased in select Imax and premium large-format screens. Overseas, the movie earned another $44.5M as it joined the billion-dollar club at the global box office. Meanwhile, "Elvis" opened ahead of expectations, earning an A- CinemaScore and a 94% score on Rotten Tomatoes. 5. Starbucks (SBUX), General Motors (GM), Cadre Holdings (CDRE), D.R. Horton (DHI), Lennar (LEN), Toll Brothers (TOL), Cleveland-Cliffs (CLF), Nucor (NUE), Stelco Holdings (STZHF), Steel Dynamics (STLD) and U.S. Steel (X) saw positive mentions in this week's edition of Barron's, while Carvana (CVNA) was mentioned cautiously. ShowHide Related Items >><<
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Innovent, Lilly say TYVYT approved by China NMPA in combo with chemotherapy »
20:05 06/26/22 06/2620:05 06/26/2220:05
LLY
Eli Lilly
Innovent Biologics and… Story temporarily locked. ShowHide Related Items >><<
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AT&T, Verizon raise prices, test consumer budgets, WSJ says »
18:13 06/26/22 06/2618:13 06/26/2218:13
T
AT&T
Verizon
Wireless companies have… Wireless companies have spent the past month boosting fees and raising the cost of some midrange wireless plans, The Wall Street Journal's Drew Fitzgerald reports. AT&T (T) starting in June, raised the cost of its older wireless plans by up to $6 for single lines and $12 for family plans, encouraging subscribers to adopt newer unlimited data plans. Verizon (VZ) later matched AT&T with a $6 or $12 monthly price increase on its metered-data plans. It also raised some monthly fees on consumer wireless plans by $1.35 and levied a monthly per-smartphone fee of up to $2.20 on many business plans, the publication notes. Reference Link ShowHide Related Items >><<
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3M faces potentially billions in liabilities over $7.63 earplugs, WSJ reports »
18:09 06/26/22 06/2618:09 06/26/2218:09
MMM
3M
More than 100,000 U.S.… Story temporarily locked. ShowHide Related Items >><<
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Tesla. Ford and GM raise EV prices as costs and demand grow, WSJ reports »
18:06 06/26/22 06/2618:06 06/26/2218:06
TSLA
Tesla
Ford
General Motors
Rivian Automotive
Lucid Group
Auto makers have been… Auto makers have been raising prices on electric cars, partly to offset the soaring cost of materials used in their large batteries. Car executives also are capitalizing on strong consumer interest in EVs, as a new wave of plug-in vehicles hits the market, The Wall Street Journal's Mike Colias reports. In the past few months, Tesla (TSLA), Ford (F), General Motors (GM), Rivian Automotive (RIVN) and Lucid Group (LCID) have increased prices on certain electric models, the author notes. Reference Link ShowHide Related Items >><<
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Reliance in talks to raise up to $8B for Boots, Mint reports »
18:03 06/26/22 06/2618:03 06/26/2218:03
WBA
Walgreens Boots Alliance
Apollo Global
Reliance Industries is in… Story temporarily locked. ShowHide Related Items >><<
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Box Office Battle: ‘Elvis’ ties with ‘Top Gun: Maverick’ for top spot »
17:32 06/26/22 06/2617:32 06/26/2217:32
WBD
Warner Bros. Discovery
Comcast
Comcast
Sony
Lionsgate
Lionsgate
Disney
Paramount
"Box Office Battle" is… ShowHide Related Items >><<
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ISS recommends Spirit holders vote for amended merger agreement with Frontier »
16:55 06/26/22 06/2616:55 06/26/2216:55
SAVE
Spirit Airlines
Frontier Group
JetBlue
Spirit Airlines (SAVE)… Story temporarily locked. ShowHide Related Items >><<
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Madrigal Pharmaceuticals presents late-breaking Phase 3 NASH data »
16:49 06/26/22 06/2616:49 06/26/2216:49
MDGL
Madrigal Pharmaceuticals
Madrigal Pharmaceuticals… Madrigal Pharmaceuticals announced data from multiple resmetirom abstracts presented at the European Association for the Study of the Liver's International Liver Congress, including a late-breaking presentation of data from the Phase 3 MAESTRO-NAFLD-1 study and three additional oral presentations from the resmetirom clinical development program. Primary and key secondary endpoints from the double-blind, placebo-controlled, 969-patient MAESTRO-NAFLD-1 safety study were achieved; resmetirom was safe and well tolerated and provided significant reductions in liver fat, LDL-C, and other atherogenic lipids vs placebo. Patients treated with resmetirom also achieved significant reductions relative to placebo in ALT, AST, and GGT. For those patients with sufficient baseline liver stiffness, as measured by FibroScan vibration-controlled transient elastography or magnetic resonance elastography, responder analyses showed statistically significant VCTE and MRE responses in the resmetirom groups compared to placebo. Adverse event-related withdrawals were uncommon in the MAESTRO-NAFLD-1 study. The most common adverse event reported with greater frequency in the resmetirom groups vs placebo was generally mild diarrhea or increased stool frequency at the beginning of therapy. 105 patients with well-compensated NASH cirrhosis were enrolled in the open-label arm of the MAESTRO-NAFLD-1 study. Baseline FibroScan VCTE and MRE scores were consistent with F4 fibrosis. Patients with lower MRI-PDFF at baseline had more progressed cirrhosis and greater spleen volumes. Similar to patients with non-cirrhotic NASH, liver volume was greatly elevated compared to normal at baseline. Resmetirom reduced MRI-PDFF and LDL-C and other atherogenic lipids in patients with NASH cirrhosis and reduced FibroScan controlled attenuation parameter, VCTE, and MRE in a significant fraction of patients. The largest reduction in FibroScan VCTE occurred in the more advanced group. Similar improvements were observed in MRE. 73% of patients, independent of baseline cirrhosis severity, had at least 15% reduction in liver volume at Week 52. Spleen volume was also reduced and was strongly correlated with liver volume change and exposure to resmetirom. Reductions in liver enzymes and atherogenic lipids were similar across patient subgroups. Resmetirom was safe and well tolerated. As observed in patients with noncirrhotic NASH, mild GI adverse events were seen at the beginning of therapy. No differences in safety parameters between patients with cirrhosis compared to noncirrhotic NASH patients were noted. No thyroid axis changes or hyper- or hypothyroid symptoms were observed. Abstracts from the resmetirom development program provide new insights to inform noninvasive testing strategies, improve artificial intelligence-based evaluation of treatment response, and better characterize the cost burden of NASH. ShowHide Related Items >><<
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Vir Biotechnology announces new clinical data from broad Hepatitis B program »
16:42 06/26/22 06/2616:42 06/26/2216:42
VIR
Vir Biotechnology
Gilead
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Arbutus presents new data on AB-729, AB-836 and AB-101 at EASL ILC »
16:39 06/26/22 06/2616:39 06/26/2216:39
ABUS
Arbutus Biopharma
Arbutus Biopharma… Arbutus Biopharma announced the presentation of new clinical and pre-clinical data from its proprietary compounds at the European Association for the Study of the Liver International Liver Congress. The new clinical data for AB-729, its RNAi therapeutic, continues to support its development as a potential cornerstone agent for the treatment of chronic hepatitis B infection. In addition, when AB-729 and nucleos(t)ide analogues were discontinued in the first five patients who met stopping criteria and consented, there was no evidence of virologic or clinical relapse in at least 8-24 weeks of follow-up, which may lead to a functional cure. AB-836, its oral capsid inhibitor, demonstrated robust antiviral activity, however, two patients in the 200 mg cohort experienced alanine aminotransferase elevations. Based on these observations along with potentially correlated immunological findings, the company plans to conduct a Phase 1 clinical trial in healthy volunteers before progressing this program. Professor Man-Fung Yuen, Deputy Head of Department, Chief of Division of Gastroenterology and Hepatology, Master of Lap Chee, University of Hong Kong, and lead investigator of AB-729-001 clinical trial, presented a poster titled, "Continued suppression of viral markers observed following discontinuation of nucleos(t)ide analogue therapy in chronic hepatitis B subjects with low hepatitis B surface antigen levels after 48 weeks of treatment with AB-729". This presentation focused on the preliminary safety and virology data from those patients in part 3 of the AB-729-001 clinical trial who completed treatment with AB-729 and, after meeting the protocol-defined criteria, elected to stop their NA-therapy. Prof. Yuen reported on the first five of the nine patients that had between 8 and 24 weeks of data following discontinuation of all treatment. The mean HBsAg for the five patients at baseline was 2887 IU/mL compared to 69 IU/mL at the last visit after discontinuing all treatment. All five patients remain off all treatment, and all have HBsAg levels below pre-baseline levels. None of the patients have met clinical or virologic relapse criteria. There were no adverse events reported, no ALT elevations observed, and HBV DNA levels remain either less than the LLOQ or have transiently risen and subsequently decreased without intervention. Prof. Yuen also presented data from a poster titled, "Long-term suppression maintained after cessation of AB-729 treatment and comparable on-treatment response observed in HBeAg+ subjects." In addition, Prof. Yuen presented follow-up data on Cohort G, which included HBV DNA+ patients who began treatment with tenofovir disoproxil fumarate concurrently with AB-729, and Cohorts E, F, I and J, which enrolled HBeAg- and HBV DNA- patients and evaluated different doses and dosing intervals. Prof. Edward Gane, University of Auckland, New Zealand Liver Transplant Unit, Auckland, New Zealand, presented the full data from this trial in a poster titled, "Safety, tolerability, pharmacokinetics, and antiviral activity of the 3rd generation capsid inhibitor AB-836 in healthy subjects and subjects with chronic hepatitis B." AB-836-001 is a Phase 1a/1b clinical trial evaluating the safety and tolerability of multiple doses of AB-836 in patients with cHBV infection. Data from part 3 of the trial showed that the 100mg and 200mg doses of AB-836 provided potent inhibition of HBV replication with mean declines in HBV DNA at Day 28 of 3.04 and 3.55 log10 IU/mL, respectively. From a safety standpoint, there were no deaths or SAEs observed. Two HBeAg+ patients in the 100mg dose cohort had transient Grade 3 ALT elevations that resolved with continued dosing and were not considered treatment emergent adverse events. Two patients in the 200mg cohort had Grade 3 and Grade 4 ALT elevations on the last day of dosing that returned to baseline during follow up which were reported as TEAEs. The Grade 3 and Grade 4 ALT elevations seen in the 200 mg cohort were accompanied by serum IP-10 increases, a cytokine previously described to be associated with potential liver toxicity in the capsid inhibitor space. All patients with ALT elevations were asymptomatic and none had changes in bilirubin or met drug-induced liver injury criteria. There were no other clinically significant lab abnormalities, ECG or vital sign changes observed. Dr. Emily Thi presented data from a poster titled, "Preclinical activity of small-molecule oral PD-L1 checkpoint inhibitors capable of reinvigorating T cell responses from chronic hepatitis B patients." The purpose of this study was to assess the preclinical activity of AB-101 and the compound's ability to reinvigorate patient HBV-specific T-cells. Studies were conducted using a transgenic MC38 tumor mouse model and peripheral blood mononuclear cells from cHBV patients. The data presented showed that once daily oral administration of AB-101 resulted in profound tumor reduction that was associated with T-cell activation. In addition, AB-101 activates and reinvigorates HBV-specific T-cells. This favorable preclinical profile supports further development of AB-101 as a therapeutic modality for cHBV treatment. AB-101 is currently undergoing IND-enabling activities. ShowHide Related Items >><<
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Immunocore announces initial data from Phase 1 ImmTAV trial »
16:28 06/26/22 06/2616:28 06/26/2216:28
IMCR
Immunocore
Immunocore announced that… Story temporarily locked. ShowHide Related Items >><<
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Sinovac Biotech COVID-19 vaccine conditionally registered in South Africa »
16:15 06/26/22 06/2616:15 06/26/2216:15
SVA
Sinovac Biotech
Sinovac Biotech announced… Sinovac Biotech announced that the South African Health Products Regulatory Authority granted conditional registration to SINOVAC CoronaVac in aged 18 and above adults, based on acceptable safety, quality, and efficacy data submitted. The vaccine is administered intramuscularly in two doses with a 14 to 28-day interval. The CoronaVac was previously authorized for emergency use with conditions by the SAHPRA on July 3, 2021. ShowHide Related Items >><<
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Downgrade
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Nayuki downgraded to Sell from Neutral at Goldman Sachs »
14:51 06/26/22 06/2614:51 06/26/2214:51
NYKHF
Nayuki
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
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Downgrade
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Shimao Services downgraded to Sell from Buy at Goldman Sachs »
14:48 06/26/22 06/2614:48 06/26/2214:48
SHMSF
Shimao Services
Goldman Sachs analyst Yi… Goldman Sachs analyst Yi Wang double downgraded Shimao Services to Sell from Buy with a HK$3.60 price target, suggesting 14% downside. The analyst thinks Shimao's valuation recovery potential will be "pressed by the lingering liquidity pressure" of its parent, which looks unlikely to be removed by the moderate market recovery expected in the coming year. |
Conference/Events
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R1 RCM to host conference call »
01:03 06/26/22 06/2601:03 06/26/2201:03
RCM
R1 RCM
Conference call to… Story temporarily locked. ShowHide Related Items >><<
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Conference/Events
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Thor Industries to host investor day »
00:36 06/26/22 06/2600:36 06/26/2200:36
THO
Thor Industries
Investor Day to be held… Investor Day to be held in Jackson Center, Ohio on June 27 at 9 am. Webcast Link ShowHide Related Items >><<
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Conference/Events
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One Stop Systems participates in a conference call with Benchmark »
00:31 06/26/22 06/2600:31 06/26/2200:31
OSS
One Stop Systems
Semiconductor Analyst… Story temporarily locked. ShowHide Related Items >><<
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Conference/Events
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Relay Therapeutics to hold virtual event »
16:58 06/25/22 06/2516:58 06/25/2216:58
RLAY
Relay Therapeutics
Virtual Investor and… Virtual Investor and Analyst Event to be held on June 27 at 8 am. Webcast Link ShowHide Related Items >><<
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Conference/Events
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Qurate Retail to hold a virtual investor event »
16:54 06/25/22 06/2516:54 06/25/2216:54
QRTEA
Qurate Retail
CEO Rawlinson holds a… CEO Rawlinson holds a Virtual Investor Event to be held on June 27 at 9:30 am. Webcast Link ShowHide Related Items >><<
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Recommendations
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Accenture price target lowered to $370 from $455 at Barclays »
12:41 06/25/22 06/2512:41 06/25/2212:41
ACN
Accenture
Barclays analyst Ramsey… Barclays analyst Ramsey El-Assal lowered the firm's price target on Accenture to $370 from $455 and keeps an Overweight rating on the shares following the fiscal Q3 results. The analyst reduced Accenture's valuation multiple saying market multiples for companies in the IT Services sector have compressed materially. ShowHide Related Items >><<
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Recommendations
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Zendesk price target lowered to $77.50 from $128 at UBS »
11:02 06/25/22 06/2511:02 06/25/2211:02
ZEN
Zendesk
UBS analyst Taylor… UBS analyst Taylor McGinnis lowered the firm's price target on Zendesk to $77.50 from $128 and keeps a Neutral rating on the shares. The analyst cited the company's announcement that it entered into a definitive agreement to be acquired for $77.50/share. ShowHide Related Items >><<
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Recommendations
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Walgreens Boots Alliance price target lowered to $45 from $50 at Barclays »
10:58 06/25/22 06/2510:58 06/25/2210:58
WBA
Walgreens Boots Alliance
Barclays analyst Steve… Barclays analyst Steve Valiquette lowered the firm's price target on Walgreens Boots Alliance to $45 from $50 and keeps an Equal Weight rating on the shares. With a number of perceived overhangs on the retail segment going into the remainder of the year, focus for Walgreens' Q3 print will be on the outlook for foot traffic and front-end inventory/supply chain risk, the analyst said in a research note on Friday. For Q3 itself, Valiquette projects EPS of 88c versus Street view of 93c. ShowHide Related Items >><<
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Pfizer, BioNTech announce data evaluating omicron-adapted vaccine candidates »
10:54 06/25/22 06/2510:54 06/25/2210:54
PFE
Pfizer
BioNTech
Pfizer (PFE) and BioNTech… Pfizer (PFE) and BioNTech (BNTX) announced positive data evaluating the safety, tolerability, and immunogenicity of two omicron-adapted COVID-19 vaccine candidates: one monovalent and the other bivalent, a combination of the Pfizer-BioNTech COVID-19 vaccine and a vaccine candidate targeting the spike protein of the Omicron BA.1 variant of concern. Data from the Phase 2/3 trial found that a booster dose of both omicron-adapted vaccine candidates elicited a substantially higher immune response against Omicron BA.1 as compared to the companies' current COVID-19 vaccine. The robust immune response was seen across two investigational dose levels, 30 microgram and 60 microgram. The Omicron adapted vaccine candidates studied in the Phase 2/3 trial in 1,234 participants 56 years of age and older elicited substantially higher neutralizing antibody responses against Omicron BA.1 when compared to the companies' current COVID-19 vaccine. The pre-specified criterion for superiority was measured by the ratio of neutralizing geometric mean titers with the lower bound of the 95% confidence interval greater than 1. The geometric mean ratios for the monovalent 30 microgram and 60 microgram vaccines compared to the current COVID-19 vaccine were 2.23 and 3.15, respectively. The GMRs for the bivalent 30 microgram and 60 microgram vaccines compared to the current COVID-19 vaccine were 1.56 and 1.97, respectively. The monovalent Omicron-adapted vaccine 30 microgram and 60 microgram achieved a lower bound 95% confidence interval for GMR of greater than1.5, consistent with the regulatory requirement of super superiority. Demonstration of superiority against omicron and safety are regulatory requirements for potential emergency use authorization of a variant-adapted vaccine. One month after administration, a booster dose of the omicron-adapted monovalent candidates increased neutralizing geometric mean titers against Omicron BA.1 13.5 and 19.6-fold above pre-booster dose levels, while a booster dose of the Omicron-adapted bivalent candidates conferred a 9.1 and 10.9-fold increase in neutralizing GMTs against Omicron BA.1. Both omicron-adapted vaccine candidates were well-tolerated in participants who received one or the other omicron-adapted vaccine. In a SARS-CoV-2 live virus neutralization assay tested on sera from participants over 56 years of age and older, sera efficiently neutralized BA.4/BA.5 with titers approximately 3-fold lower than BA.1. Pfizer and BioNTech will continue to collect additional study data on Omicron BA.4/BA.5 over the coming weeks. ShowHide Related Items >><<
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Ionis announces presentation of Phase 2b data for chronic hepatitis B treatment »
10:49 06/25/22 06/2510:49 06/25/2210:49
IONS
Ionis Pharmaceuticals
GSK plc
Ionis Pharmaceuticals… Ionis Pharmaceuticals announced that GSK (GSK) presented results from an interim analysis of the Phase 2b B-Clear clinical study of bepirovirsen - formerly IONIS-HBVRx, an investigational antisense medicine for the treatment of patients with chronic hepatitis B virus. The data were presented in an oral late-breaker session at the European Association for the Study of the Liver's International Liver Congress 2022 in London, U.K. The final results from the study will be submitted for presentation at a scientific congress later this year, and for publication in a peer-reviewed journal. In the study, 28% of patients on standard of care, which is stable nucleoside/nucleotide analogue, and 29% of patients not on NA treatment, experienced a virologic response on 300 mg of bepirovirsen weekly, following 24 weeks of treatment. Virologic response is defined as serum/plasma levels of hepatitis B virus DNA and hepatitis B surface antigens below the lower limit of quantification. Up to 68% of patients on NA therapy and up to 65% of patients not on NA achieved HBsAg less than100 IU/mL at the end of treatment. End-of-treatment virologic responses were observed in patients with high or low baseline HBsAg levels, who were hepatitis B e-antigen negative or positive, and who were receiving NA treatment or not, indicating that bepirovirsen has the potential to treat broad segments of the CHB population. Durability of the responses is being assessed. Treatment-related serious adverse events were observed in less than 1% of patients receiving NA treatment and 1% of patients who were not on NA. SAEs were reported in 3% and 4% of patients receiving NA treatment and those who were not on NA, respectively. There were no clinically meaningful differences in adverse events across treatment arms in either trial. GSK is also exploring combinations of bepirovirsen and other therapeutic modalities in the following trials. Combination treatments could increase functional cure rates in more patients, thereby further reducing the global disease burden of CHB. Trials include: ShowHide Related Items >><<
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