PYPL = Sympathy play on Square earnings release. Shares of Square (SQ) moved higher in morning trading after the company’s third quarter results came in squarely above analysts’ estimates.
NOVO = Novo Nordisk and UBE Industries announced that Novo Nordisk has obtained an exclusive worldwide licence to UBE’s preclinical asset UD-014, a selective Semicarbazide-Sensitive Amine Oxidase/Vascular Adhesion Protein-1 inhibitor small molecule, which has shown promising efficacy in preclinical studies for its anti-inflammatory mechanism of action and antioxidative effect on endothelial cells, and can potentially be used for the treatment of non-alcoholic steatohepatitis, or NASH. Under the terms of the agreement, UBE will receive an upfront payment as well as development and sales milestones plus tiered royalties on the annual net sales. Novo Nordisk will be responsible for the further development, manufacturing and commercialisation of UD-014.
BJRI = BJ’s Restaurants (BJRI) announced the opening of its restaurant in Tulsa, Oklahoma. The new BJ’s Restaurant & Brewhouse opened today on a free standing pad on East 71st Street at the east entrance of Woodland Hills Mall. The restaurant is approximately 7,500 square feet, seats approximately 230 guests and features BJ’s extensive menu, including BJ’s signature deep-dish pizza, award-winning handcrafted beer and famous Pizookie® dessert. BJ’s unique, contemporary décor provides the perfect environment for all dining occasions. Hours of operation are from 11:00 a.m. to 12:00 midnight Sunday through Thursday, and 11:00 a.m. to 1:00 a.m. Friday and Saturday.
“We are excited to be adding another restaurant in Oklahoma with the opening of our newest BJ’s in Tulsa,” commented Greg Trojan, Chief Executive Officer. “Our Tulsa restaurant is our fourth in the state of Oklahoma and joins our two existing restaurants in Oklahoma City and our restaurant in Norman, Oklahoma. We are on track to open our last and seventh restaurant of the year later this month in Denver, Colorado.”
MSFT = The U.S. Department of Energy announced up to $30M in funding for a new Advanced Research Projects Agency-Energy, ARPA-E, program, Breakthroughs Enabling THermonuclear-fusion Energy, BETHE. BETHE projects will support the development of timely, commercially viable fusion energy, aiming to increase the number and performance levels of lower-cost fusion concepts. “Successfully developing lower-cost fusion energy concepts would ensure U.S. leadership in this potentially game-changing energy technology,” said ARPA-E Director Lane Genatowski, “Deployable, commercially viable fusion would offer reliable, low-carbon power.” Jeff Bezos of Amazon (AMZN) and others have been said to invest many millions into General Fusion, a start-up trying to commercialize fusion energy, adding that Microsoft (MSFT) is partnering with the company by offering technological know-how. Additoionally, it has been reported that the largest company doing work in fusion power is probably Lockheed Martin (LMT).
BABA = The Singing Machine Company announced it has been formally granted trademark protection in China by the China Trademark Office for its Singing Machine brand. Having this trademark protection now allows the Company to enter the China market. Singing Machine also announces it is entering the China market through distribution of its products on Chinese giant, Taobao.com, a subsidiary of Alibaba, and one of the world’s largest e-commerce marketplaces. Singing Machine will continue to develop a market for its products in China, utilizing China’s expansive e-commerce options and continuing to explore traditional brick and mortar distribution in China.