2023-01-31 16:09:31 TSHA Taysha Gene Therapies
01/31/23 01/3116:09 01/31/2316:09 | Taysha Gene Therapies provides update on TSHA-120 program in GANTaysha Gene Therapies provided an update on the TSHA-120 program in giant axonal neuropathy GAN and a corporate outlook for 2023. "We expect to deliver on several key milestones in 2023, including the generation of first-in-human adult clinical data in Rett syndrome, CTA submission to MHRA to enable initiation of our pediatric Rett syndrome program and submission of an IND for Rett syndrome in the U.S. to further expand our clinical study footprint. For our GAN program, we received the formal FDA meeting minutes and recently submitted follow up questions to clarify some of their recommendations including the feasibility of a proposed study design and the totality of evidence required for BLA submission. Their feedback will help inform next steps for the program in this ultra-rare indication with no approved treatments," said Sean P. Nolan, Chairman and Chief Executive Officer of Taysha. "I believe that the operational, structural and personnel actions recently implemented position us well to execute across our near-term milestones and deliver on our commitments to key stakeholders, especially patients." |
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Avadel Pharmaceuticals 10M share Spot Secondary priced at $8.50 »
21:35 03/29/23 03/2921:35 03/29/2321:35
AVDL
Avadel Pharmaceuticals
The deal priced below… The deal priced below last closing price of $8.89. Jefferies is acting as lead book running manager for the offering. ShowHide Related Items >><<
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General news
| Treasury Market Summary:… Treasury Market Summary: Wall Street opened firmly and extended gains amid reduced stress over the banking system and increased optimism that the fallout has been contained. Calm is returning to the markets now that no additional reports of bank problems have been reported. Earnings beats from Micron and Lululemon were upbeat surprises too. The NASDAQ surged 1.72% to, while the S&P 500 climbed 1.42%, with the Dow up 1.00%. The break over the 4014 on the S&P 500, the 50-day moving average, helped propel the markets higher too with the index finishing at 4027.8. Treasuries had a modest bid most of the day even as risk appetite jumped. The 2-year Treasury ended at 4.09% and the 10-year was at 3.56%. The DXY dollar index firmed to 102.786 but lost some steam to end the day at 102.642. The buck rallied against JPY to 132.86 as the yen lost some of its haven demand. ShowHide Related Items >><<
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Cathie Wood's ARK Investment bought 224.2K shares of SomaLogic today
20:03 03/29/23 03/2920:03 03/29/2320:03
SLGC
SomaLogic
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Adtran announces retirement of CFO »
20:02 03/29/23 03/2920:02 03/29/2320:02
ADTN
Adtran
Adtran "announced… Adtran "announced that after 39 years in the telecommunications industry, ADTRAN Holdings' CFO, Mike Foliano, will retire from the Company effective on June 28, 2023. The Company also announced the appointment of Uli Dopfer as the Company's new CFO, effective May 1, 2023. Uli Dopfer previously served as CFO of ADVA Optical Networking for the past 8 years." ShowHide Related Items >><<
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Faraday Future starts production of FF 91 Futurist Alliance »
20:01 03/29/23 03/2920:01 03/29/2320:01
FFIE
Faraday Future
Faraday Future announced… Faraday Future announced the start of production of the all-new Ultimate Intelligent TechLuxury FF 91 Futurist Alliance at its FF ieFactory located in Hanford, California. The FF 91 Futurist is the Company's first production vehicle and flagship model that is expected to be offered in both the U.S. and China markets. ShowHide Related Items >><<
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Netflix update on sharing efforts likely a positive catalyst, says Wells Fargo »
19:39 03/29/23 03/2919:39 03/29/2319:39
NFLX
Netflix
Wells Fargo keeps an… Wells Fargo keeps an Overweight rating and $400 price target on Netflix while noting that the company's upcoming commentary on its paid subscriber sharing policy with Q1 results will likely serve as a "positive catalyst". In U.S. and Canada, some accounts will pay the $8/month average revenue per user, while others will drop their sharers with some of those subscribing on their own, but the firm's base case suggest 7M net adds from paid sharing vs. consensus view of 2M net adds in FY23, the analyst tells investors in a research note. Consensus calls for 15M net adds this year, but contribution from Netflix paid sharing efforts alone worldwide could be over 20M in Wells Fargo's base case, and the firm believes that "significant upward revisions look likely" for the company. ShowHide Related Items >><<
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Charles Schwab director buys $267.3K in common stock »
19:27 03/29/23 03/2919:27 03/29/2319:27
SCHW
Charles Schwab
In a regulatory filing,… In a regulatory filing, Charles Schwab disclosed that its director Marianne Brown bought bought 5.0K shares of common stock on March 28th in a total transaction size of $267.3K. ShowHide Related Items >><<
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Paychex CEO: Our value proposition continues to resonate in the market »
18:46 03/29/23 03/2918:46 03/29/2318:46
PAYX
Paychex
In an interview on… In an interview on CNBC's Mad Money, John Gibson said the market continues to view Paychex as a stable adviser in difficult times. He noted that the company had no cash or investments in any of the banks impacted by the SVB crisis. He urged policy makers to step in to ensure there is more access to capital. ShowHide Related Items >><<
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Wolverine World Wide proposes U.K. workforce reduction »
18:38 03/29/23 03/2918:38 03/29/2318:38
WWW
Wolverine World Wide
The company states:… The company states: 'Wolverine World Wide announced actions intended to improve operating performance, fuel global growth, and enable future investments into Sweaty Betty, a global premium women's activewear brand acquired in August 2021. Sweaty Betty will now report into Wolverine Worldwide's London-based International Group, which is responsible for the Company's operations outside the United States. This move will more closely align Sweaty Betty with Wolverine's global centers of excellence. As part of this transition, several opportunities have been identified to better align Sweaty Betty's cost structure to Wolverine's other brands and enable future investments. These include consolidating London office space, securing savings through Wolverine's new Profit Improvement Office, and proposing a UK workforce reduction. The expected impact of these actions is reflected in the Company's 2023 guidance." ShowHide Related Items >><<
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Earnings
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Aerovate Therapeutics reports Q4 EPS (61c), consensus (62c) »
18:37 03/29/23 03/2918:37 03/29/2318:37
AVTE
Aerovate Therapeutics
Cash, cash equivalents… Cash, cash equivalents and short-term investments totaled $129.2 million as of December 31, 2022, compared to $142.6 million as of September 30, 2022. The decrease was primarily driven by operational costs for the three-month period ended December 31, 2022. The company "expects that cash, cash equivalents and available-for-sale investments will be sufficient to fund our operations into the second half of 2025, based on our current operating plan." CEO Tim Noyes says: "Aerovate had a productive year in 2022 as evidenced by the progress made with our lead pipeline candidate AV-101 and strategic additions to our management team. We believe AV-101, if approved, has the potential to become part of a new standard of care for patients with PAH by directly delivering a novel antiproliferative therapy to the pulmonary vasculature in a way that may offer broad efficacy and a low side effect burden to complement current and future treatment options. With its convenient twice daily dosing and easy-to-use pocket-size inhaler, we are optimistic about the potential of AV-101 to help us deliver on our vision of providing patients with meaningful treatment solutions." ShowHide Related Items >><<
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Calavo Growers CEO buys $1.4M in common stock »
18:35 03/29/23 03/2918:35 03/29/2318:35
CVGW
Calavo Growers
In a regulatory filing,… In a regulatory filing, Calavo Growers disclosed that its CEO Lecil Cole bought 50K shares of common stock on March 28th in a total transaction size of $1.4M. Shares of Calavo Growers are up 2% afterhours at $27.45. ShowHide Related Items >><<
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Alcoa price target lowered to $47 from $52 at Morgan Stanley »
18:29 03/29/23 03/2918:29 03/29/2318:29
AA
Alcoa
Morgan Stanley analyst… Morgan Stanley analyst Carlos De Alba lowered the firm's price target on Alcoa to $47 from $52 and keeps an Equal Weight rating on the shares as part of a broader research note on Americas Metals & Mining. While the firm is constructive over the long term on decarbonization and electrification trends that support demand for metals and challenging conditions to develop new supply, it prefers to "take chips off the table" as mining equities share prices are more adequately reflecting the China reopening, the analyst tells investors in a research note. Morgan Stanley adds that it prefers to see evidence that Alcoa's recent operational setbacks in the bauxite and alumina businesses are resolved. ShowHide Related Items >><<
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Teck Resources price target lowered to $42 from $44 at Morgan Stanley »
18:27 03/29/23 03/2918:27 03/29/2318:27
TECK
Teck Resources
Morgan Stanley analyst… Morgan Stanley analyst Carlos De Alba lowered the firm's price target on Teck Resources to $42 from $44 but keeps an Overweight rating on the shares as part of a broader research note on Americas Metals & Mining, also stating that the stock remains the firm's Top Pick in the space. While Morgan Stanley is constructive over the long term on decarbonization and electrification trends that support demand for metals and challenging conditions to develop new supply, it prefers to "take chips off the table" as mining equities share prices are more adequately reflecting the China reopening, the analyst tells investors in a research note. The analyst adds that Teck offers growing exposure to copper and long-term potential expansion in volumes and EBITDA, stating that it sees Teck's asset base and free cash flow rising in coming years post QB2 completion that may result in higher dividends ahead. ShowHide Related Items >><<
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Macy's CEO: We've been working on the CEO transition plan for two years »
18:23 03/29/23 03/2918:23 03/29/2318:23
M
Macy's
In an interview on… In an interview on CNBC's Mad Money, Jeff Gennette said Macy's is "ready for me to hand it off." He's "very excited" about Tony Spring's leadership and noted that he's "set to hit the ground running." Gennette added that he's "very committed to ensuring that it's a smooth transition." ShowHide Related Items >><<
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Kohl's CEO buys $2.02M in common stock »
18:17 03/29/23 03/2918:17 03/29/2318:17
KSS
Kohl's
In a regulatory filing,… In a regulatory filing, Kohl's disclosed that its CEO Thomas Kingsbury bought 92.5K shares of common stock on March 29th in a total transaction size of $2.02M. ShowHide Related Items >><<
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On The Fly
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Fly Intel: After-Hours Movers »
18:14 03/29/23 03/2918:14 03/29/2318:14
CXM
Sprinklr
Atreca
Arcellx
PacWest Bancorp
Nektar
Crane
Semtech
Concentrix
Beam Global
RH
Verint
H.B. Fuller
Viking Therapeutics
Peabody Energy
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Volta stockholders approve merger transaction with Shell USA »
18:12 03/29/23 03/2918:12 03/29/2318:12
VLTA
Volta
Shell
Volta (VLTA) stockholders… Volta (VLTA) stockholders approved the proposal to adopt the agreement and plan of merger dated January 17 under which Shell USA, a subsidiary of Shell (SHEL), has agreed to acquire Volta through a merger of a direct, wholly-owned subsidiary of Shell USA with and into Volta, with Volta continuing as the surviving corporation in the merger. The transaction is expected to close on or about March 31 subject to customary closing conditions. Following the closing of the transaction, shares of Volta common stock will be delisted from trading on the NYSE and de-registered. Volta stockholders will be entitled to receive $0.86 in cash, without interest and net of withholding taxes, for each share of Volta Class A common stock upon the completion of the merger. ShowHide Related Items >><<
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Nexa Resources downgraded to Underweight from Overweight at Morgan Stanley »
18:08 03/29/23 03/2918:08 03/29/2318:08
NEXA
Nexa Resources
Morgan Stanley downgraded… Morgan Stanley downgraded Nexa Resources to Underweight from Overweight with a price target of $5.60, down from $6.00, as part of a broader research note on Americas Metals & Mining. While the firm remains constructive over the long term on decarbonization/electrification trends that support demand for metals and challenging conditions to develop new supply, it prefers to "take chips off the table" as mining equities share prices are more adequately reflecting the China reopening. The timing and magnitude of the company's operational turnaround were "overestimated", Morgan Stanley adds, noting that it is now cutting its 2023 and 2024 EBITDA estimates by 40% and 5% respectively after incorporating the company's latest guidance. ShowHide Related Items >><<
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Southern Copper downgraded to Equal Weight from Overweight at Morgan Stanley »
18:06 03/29/23 03/2918:06 03/29/2318:06
SCCO
Southern Copper
Morgan Stanley analyst… Morgan Stanley analyst Carlos De Alba downgraded Southern Copper to Equal Weight from Overweight with an unchanged $70 price target as part of a broader research note on Americas Metals & Mining. While the firm remains constructive over the long term on decarbonization/electrification trends that support demand for metals and challenging conditions to develop new supply, it prefers to "take chips off the table" as mining equities share prices are more adequately reflecting the China reopening. Southern Copper has outperformed its copper peers over the last three, six, and 12 months, but its risk-reward is now more balanced with the stock more adequately reflecting the company's strong cash generation and consistent returns to shareholder, the analyst tells investors in a research note. ShowHide Related Items >><<
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Alpine Acquisition unable to complete Two Bit Circus transaction »
17:59 03/29/23 03/2917:59 03/29/2317:59
REVE
Alpine Acquisition
The company states:… The company states: "As previously disclosed, on May 18, 2022, Alpine Acquisition Corporation entered into an Agreement and Plan of Merger, with AAC Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of Alpine, and Two Bit Circus, Inc. Pursuant to the Merger Agreement, Merger Sub was to merge with and into TBC, with TBC surviving the merger as a wholly-owned subsidiary of Alpine. Concurrently with the execution of the Merger Agreement, Alpine entered into a Purchase and Sale Agreement with Pool IV Finance LLC, Pool IV TRS LLC and PHF II Stamford LLC pursuant to which Alpine was to purchase the Hilton Stamford Hotel & Executive Meeting Center and the Crowne Plaza Denver Airport Convention Center Hotel simultaneously with the closing of the Merger. Alpine has determined that it will be unable to consummate the transactions contemplated by the Business Combination Agreements within the required time period and therefore has determined to cancel its special meeting in lieu of an annual meeting of stockholders called to approve such transactions. Alpine will now commence the process of liquidating its assets in accordance with its amended and restated certificate of incorporation. Alpine's warrants will expire worthless." ShowHide Related Items >><<
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Earnings
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Heritage Cannabis reports Q1 EPS 0c vs 1c last year »
17:50 03/29/23 03/2917:50 03/29/2317:50
HERTF
Heritage Cannabis
The Company reported… The Company reported gross revenue of $9,446,995 for the three months ended January 31, a decrease of $149,146 compared to the gross revenue of $9,596,141 for the three months ended January 31. The decrease in gross revenue was primarily due to negative pricing movements in the period by the provincial boards which impacted the results by over $125,000. "In a traditionally slow period, we are very pleased to have achieved gross margin growth - evidence our continued focus to lower our operational costs has been effective. Even with a number of our achievements expecting to positively impact our operations in the coming months, such as our Thrifty brand launch and U.S. investments, we are continuing to remain focused on cost management while improving our market penetration in our core markets", said David Schwede, CEO of Heritage. "While this past quarter we saw provincial pricing that negatively impacted our results, we feel the majority of this reset is now behind us and we can focus on continued growth by leading in market innovation, focusing on growing our entire portfolio of in-demand products. With our U.S. strategy ramping up and early indications showing positive results ahead of expectations, we are well positioned to see an up-trend in the business in 2023." ShowHide Related Items >><<
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Stratasys confirms $19.55 per share acquisition proposal from Nano Dimension »
17:47 03/29/23 03/2917:47 03/29/2317:47
SSYS
Stratasys
Nano Dimension
Stratasys (SSYS)… Stratasys (SSYS) confirmed that it has received a revised unsolicited non-binding indicative proposal from Nano Dimension (NNDM) to acquire Stratasys for $19.55 per share in cash. Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the Stratasys Board of Directors will carefully review and evaluate the proposal to determine the course of action that it believes is in the best interests of the company and Stratasys shareholders. ShowHide Related Items >><<
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Lululemon CFO Meghan Frank acquires 861 shares of company stock »
17:44 03/29/23 03/2917:44 03/29/2317:44
LULU
Lululemon
The CFO of Lululemon… The CFO of Lululemon Athletica Meghan Frank disclosed in a regulatory filing that he had acquired 861 shares of company stock at $317.22 per share on March 27. ShowHide Related Items >><<
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Medical Properties Trust to sell Healthscope portfolio »
17:44 03/29/23 03/2917:44 03/29/2317:44
MPW
Medical Properties Trust
Medical Properties Trust… Medical Properties Trust has entered into a definitive agreement to sell its Australian real estate investments operated by Healthscope to affiliates of HMC Capital, an Australian alternative asset manager focused on real estate strategies, including HealthCo Healthcare & Wellness REIT. The transaction is expected to be completed in the second half of 2023, subject to certain regulatory approvals. Total consideration for the company's Healthscope portfolio is based in part on a lease capitalization rate approximating 5.7%, resulting in anticipated cash proceeds sufficient to fully prepay the AUD$1.2B term loan used to fund the 2019 acquisition of the 11 hospitals leased to Healthscope. At year-end 2022 exchange rates, the term loan was reflected in MPT's financial statements at a U.S. dollar equivalent of approximately $818M; at the same exchange rate, 2023 annualized GAAP rent would be approximately $54M. ShowHide Related Items >><<
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