Mesa Air enters new contract with American Airlines to operate 40 CRJ-900s » 16:0311/2411/24/20
Mesa Air (MESA) announced…
Mesa Air (MESA) announced that it has finalized a new contract, which replaces the previous agreement with American Airlines (AAL), to operate 40 CRJ-900s for a five-year term beginning January 1, 2021 through December 31, 2025. Under the previous contract 30 CRJ-900 aircraft were set to expire in 2021 with an additional 17 expiring in 2022. "I want to express my appreciation to the American Eagle team leaders who worked with us on this new contract," said Jonathan Ornstein, chairman and CEO of Mesa Air Group. "This new contract will position Mesa for long term stability and improved performance on our American operation. This year has been difficult for our entire industry, but I'm thankful that despite the obstacles, American has chosen to continue its long-standing relationship with Mesa."
Quest says average turnaround time for Covid tests now 2-3 days » 09:0411/2411/24/20
Quest Diagnostics said in…
Quest Diagnostics said in a statement, "As we reported last week, the nationwide surge in COVID-19 cases is contributing to growing demand for our COVID-19 molecular diagnostic testing services. In addition, the average positivity rate of specimens across our served regions continues to limit our ability to pool specimens. And, as we and others have reported, global supply constraints are an ongoing source of strain on laboratory testing. These dynamics are pressuring our testing capacity, causing delays for test results (turnaround time). Our average turnaround time for reporting test results is approximately 2-3 days for all patients and approximately 2 days for our priority patients. We are taking several steps to address these dynamics. We continue to: expand our physical capacity with additional testing equipment and platforms; add capacity through our lab referral partner program; and remain in close contact with our suppliers to acquire the supplies needed to provide testing. We also continue to work with healthcare providers to prioritize testing, including for patients who are hospitalized, awaiting surgery or receiving care in congregate settings, such as nursing homes." Reference Link
Notable open interest changes for November 24th » 08:5511/2411/24/20
AAPL, TSLA, NIO, F
Monday's total option volume of 36.2 million contracts resulted in net open interest growth of 5.81 million calls and 4.52 million puts. Apple (AAPL), Tesla (TSLA), NIO (NIO) and Ford (F) saw the greatest growth. Top five new positions opened include 101k BGC Partners (BGCP) Feb-21 3 puts, 79k Ford (F) Jun-21 10 calls, 42k Wells Fargo (WFC) Jan-21 27.5 calls, 29k Energy Transfer (ET) Jan-21 8 calls and 27k Plug Power (PLUG) Dec-20 35 calls.
Class action against Tesla alleges suspension defect cover, Bloomberg Law says » 06:0111/2411/24/20
Tesla has been hit with a…
Tesla has been hit with a proposed consumer class action in the Northern District of California alleging the company concealed information about latent defects in the suspension system of its Model S and Model X automobiles produced from September 17, 2013, to October 15, 2018, which increase the risk of a crash, Bloomberg Law reports. Reference Link
Northrop Grumman awarded $185.7M Air Force contract » 17:1311/2311/23/20
Northrop Grumman has been…
Northrop Grumman has been awarded a $185.7M indefinite-delivery/indefinite-quantity contract for the A-10 Aircraft Structural Integrity Program Legacy VII. This contract provides for sustaining engineering services of A-10 aircraft. Work will be performed in Clearfield, Utah, and is expected to be completed November 22, 2030. This award is the result of a sole-source acquisition. FY21 operation and maintenance funds in the amount of $6.48M are being obligated at the time of award. The Air Force Life Cycle Management Center is the contracting activity.
Key Biden technology adviser makes regulation seem more likely, Reuters says » 16:4511/2311/23/20
FB, AAPL, GOOG, UBER, TSLA, LYFT
The approach that…
The approach that President-elect Joe Biden may take regarding technology legislation may be reflected in in the views of one of his top technology advisers, Bruce Reed, wrote Reuters. "Bruce Reed, a former Biden chief of staff who is expected to take a major role in the new administration, helped negotiate with the tech industry and legislators on behalf of backers of a ballot initiative that led to the 2018 California Consumer Privacy Act. Privacy advocates see that law as a possible model for a national law," noted Reuters in the story. Companies that may be impacted by this include: Facebook (FB) Apple (AAPL). Alphabet (GOOG, GOOGL) Uber (UBER), Tesla (TSLA), Lyft (LYFT). Reference Link
BioCryst initiated with an Outperform at Evercore ISI » 16:3811/2311/23/20
Evercore ISI analyst…
Evercore ISI analyst Liisa Bayko initiated coverage of BioCryst with an Outperform rating and $12 price target. The company is "pioneering oral treatments" for a rare disease, the analyst tells investors in a research note, noting that according to her survey, physicians are excited about its Orladeyo because it is oral and plan to adopt it in over a third of their patients next year. Bayko adds that that BioCryst's BCX9930 is also moving rapidly into advanced studies that could support its approval in paroxysmal nocturnal hemoglobinuria, or PNH, as well.
BioCryst initiated with an Outperform at Evercore ISI » 16:0611/2311/23/20
Evercore ISI initiated…
Evercore ISI initiated coverage of BioCryst with an Outperform rating and $12 price target.
Notable open interest changes for November 23rd » 08:5511/2311/23/20
AAPL, TSLA, BABA, SNAP
Friday's total option volume of 36.1 million contracts resulted in net open interest growth of 5.33 million calls and 4.08 million puts. Apple (AAPL), Tesla (TSLA), Alibaba (BABA) and Snap Inc. (SNAP) saw the greatest growth. Top five new positions opened include 102k General Electric (GE) Jun-21 10 calls, 31k General Electric (GE) Dec-20 9 puts, 25k American Airlines (AAL) May-21 15 calls, 25k PG&E (PCG) 12/31 weekly 12 puts and 25k PG&E (PCG) 12/31 weekly 13.5 calls.
Dycom price target raised to $90 from $69 at Stifel » 07:4111/2311/23/20
DY, T, CMCSA
Stifel analyst Noelle…
Stifel analyst Noelle Dilts raised the firm's price target on Dycom (DY) to $90 from $69 and keeps a Buy rating on the shares ahead of the company's report of Q3 earnings on Tuesday, November 24. Dilts believes the move toward 5G and, more broadly, Internet of Things, will require significant infrastructure upgrades and views Dycom as "the best way to play this theme," the analyst tells investors. She believes that AT&T (T) and Comcast (CMCSA) are now increasing fiber investments after a pause in 2019 and early 2020, the analyst added.