Hiring blitz at Rite Aid

Rite Aid (RAD -0.7%) says it plans to hire 5K associates for full and part-time roles to support store and distribution center operations.

Positions will include cashiers, pharmacy technicians and distribution center associates.

Source: Press Release

https://seekingalpha.com/news/3558623-hiring-blitz-rite-aid

Akers Biosciences up 62% on advancement of COVID-19 vaccine

Thinly traded nano cap Akers Biosciences (AKER +62.4%) rallies on a healthy 25x surge in volume in reaction to the advancement of its COVID-19 vaccine candidate.

The company, along with collaboration partner Premas Biotech, has successfully cloned three coronavirus antigens, Spike, Envelope and Membrane, representing three “shots on goal” for efficacy according to Premas co-founder and Managing Director Prabuddha Kundu.

The parties have initiated the second stage of protein expression and will provide another update later this month.

https://seekingalpha.com/news/3558624-akers-biosciences-up-62-on-advancement-of-covidminus-19-vaccine

Big companies look at employee heat checks

Tyson Foods (NYSE:TSN) is using walk-through infrared body temperature scanners to check for indications of COVID-19 at three food processing sites in the U.S.

The scanners check an employee’s temperature as they walk into the building in an effort to see if they have a fever, which is a sign of a COVID-19.

The scanners are said to be more accurate than handheld thermometers, although not a guarantee on COVID-19 by any measure. The FDA is looking at issuing new guidance on walk-through body temperature scanners.

Other large companies reported to be considering utilizing body temperature scanners include Goldman Sachs (NYSE:GS), UPS (NYSE:UPS), Ford (NYSE:F) and Carnival (NYSE:CCL). That list could grow if the FDA posts a recommendation.

https://seekingalpha.com/news/3558597-big-companies-look-employee-heat-checks

Planet Fitness up after JPMorgan calls it gym survivor

JPMorgan upgrades Planet Fitness (NYSE:PLNT) to an Overweight rating from Neutral on a positive view that it can survive in a post-pandemic industry that might see consolidation. Valuation is also seen as attractive after the sell-off of shares.

“Planet Fitness’ 2,001 store base gives brand reach and awareness that doesn’t exist in any other gym brand and $10 per month is famously the low-cost provider. We believe post-crisis demand for fitness will increase, and the brand’s suspension of dues collection matched with ACH (direct from checking account) consumer payment method makes this subscription model highly sticky.”

The firm also notes the Planet Fitness balance sheet is in very good shape with over $500M of cash sitting on it.

JP assigns a price target of $51 based off 25X the 2021 EPS estimate.

https://seekingalpha.com/news/3558536-planet-fitnessplus-9-after-jpmorgan-calls-gym-survivor

FDA OKs emergency use of Luminex COVID-19 test

The FDA grants Emergency Use Authorization for Luminex’s (NASDAQ:LMNX) ARIES SARS-CoV-2 Assay that detects the COVID-19 coronavirus. The company says ARIES can process up to 144 tests per day with no special training required and minimal human interaction.
https://seekingalpha.com/news/3558537-fda-oks-emergency-use-of-luminex-covidminus-19-test

Vir Biotech up 34% premarket on GSK COVID-19 deal

Vir Biotechnology (NASDAQ:VIR) jumps 34% premarket on modest volume in reaction to its collaboration with GlaxoSmithKline (NYSE:GSK) to research and develop treatments for COVID-19.

The partnership will leverage Vir’s proprietary monoclonal antibody platform with GSK’s know-how in functional genomics while combining their respective competencies in CRISPR screening and artificial intelligence (AI) to identify anti-coronavirus compounds that target cellular host genes. They will also apply their combined expertise to research coronavirus vaccines, including SARS-CoV-2.

In addition to gaining access to Vir’s technology, GSK will invest $250M in Vir via the purchase of its common stock at $37.73 per share, a 30% premium to Friday’s close of $29.00.

https://seekingalpha.com/news/3558545-vir-biotech-up-34-premarket-on-gsk-covidminus-19-deal

GW Pharma’s Epidiolex descheduled by DEA

The U.S. Drug Enforcement Agency (DEA) has notified GW Pharmaceuticals (NASDAQ:GWPH) that it no longer considers Epidiolex (cannabidiol) a controlled substance. The change is effective immediately.

The move was expected. In September 2018, the DEA took the intermediate step of categorizing the product as a Schedule 5 drug (includes cough suppressants that contain modest amounts of codeine, Lyrica and Motofen) that have lower abuse potential than Schedule 4 substances (i.e., Xanax, Darvon, Ambien).

Shares up 4% premarket on light volume.

https://seekingalpha.com/news/3558584-gw-pharmas-epidiolex-descheduled-dea