Stockwinners Market Radar for April 21, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:33 EDT CareDx receives expected letter from Nasdaq - CareDx announced that, as expected, on April 19, 2017 it received a standard notification letter from The Nasdaq Stock Market LLC stating that because the company did not timely file its Form 10-K for the year ended December 31, 2016, the company is not in compliance with Nasdaq Listing Rule 5250c1, which requires timely filing of periodic reports with the Securities and Exchange Commission. Nasdaq provided the Company until June 19, 2017 to submit a plan to regain compliance. The company filed the Form 10-K with the SEC on April 21, 2017 and has regained compliance with Nasdaq Listing Rule 5250c1.

17:32 EDT Alliance MMA announces shareholder filed lawsuit against the company - Alliance MMA announced that a shareholder has filed a lawsuit against the Company and two of its current officers in the U.S. District Court for the District of New Jersey, under the caption Shapiro v. Alliance MMA. The lawsuit alleges violations of the federal securities laws and purports to seek damages on behalf of a class of all shareholders who purchased the Company's common stock pursuant or traceable to the Company's initial public offering. The Company believes that the lawsuit is without merit and intends to vigorously defend against it.

17:22 EDT Novo Nordisk terminates exclusive license agreement with XOMA - On April 20, XOMA (XOMA) received notice from Novo Nordisk (NVO) of Novo Nordisk's termination of its Exclusive License Agreement with the company due to strategic and business reasons. The termination of the License Agreement will be effective ninety days from April 20 in accordance with Section 10.2 of the License Agreement. Based on the termination of the License Agreement, the company updates its prior guidance regarding potential milestone payments payable under license agreements with various of the company's partners over the next 36 months to decrease such guidance from $50M to $40M.

17:04 EDT DragonWave did not regain compliance with Nasdaq listing standards - DragonWave announced that it has received a letter from the Nasdaq staff indicating that the company did not regain compliance with Nasdaq Listing Rule 5550 due to the Company's failure to maintain a minimum of $2.5M in shareholders' equity by the end of granted compliance period, which expired on April 17, 2017. As a result, the Company would be subject to delisting on May 1 unless it requests a hearing before a Nasdaq Listing Qualifications Panel. The Company intends to request a hearing before the Panel at which it will present its plan of compliance and request a further extension of time. The Panel has the discretion to grant the Company up to an additional 180 calendar days from April 20 to regain compliance.

17:00 EDT Sears names Rob Riecker CFO - Sears announced that Rob Riecker, currently Controller and Head of Capital Market Activities, has been appointed Chief Financial Officer of Sears Holdings, effective immediately. Riecker joined the company in 2005 as Assistant Controller and served in various senior positions within the company's Finance organization. Riecker succeeds Jason Hollar, who has resigned from Sears Holdings to pursue another career opportunity.

16:59 EDT Sears raises annualized cost savings target to $1.25B from $1B - Sears Holdings provided an update on its strategic restructuring program, including incremental actions to increase its annualized cost savings target to $1.25B from $1B. In addition, the company provided an update on its efforts to enhance its liquidity and financial flexibility. Sears Holdings said it has achieved "significant progress" in its restructuring program, with $700M in annualized cost savings already actioned to date. The initiatives being taken to realize $1.25B in annualized cost savings in 2017 include: the previously announced closure of 150 non-profitable stores, comprised of 108 Kmart and 42 Sears locations, which has been completed; the closure of 92 underperforming pharmacy operations in certain Kmart stores and 50 Sears Auto Center locations; simplification of the organizational structure of Sears Holdings through consolidation of the leadership of retail operations for Sears and Kmart and elimination of certain senior management roles; and a comprehensive review of the company's value chain to identify broader opportunities for competitively priced products and drive operational efficiencies. In addition to improving its operating performance, the company remains focused on its integrated retail strategy and is actively pursuing a number of new partnerships and other membership offerings. The actions outlined today will reduce the company's overall cash funding requirements and support its continued focus on the evolution of the Shop Your Way ecosystem to deliver more value and better services for its members.

16:46 EDT General International reports new 9.8% stake in Lightbridge - General International intends to review the investment in Lightbridge on a continuing basis. General International may take such actions with respect to the investment in Lightbridge as are deemed appropriate, including, without limitation, purchasing additional shares of Common Stock or other financial instruments related to the Issuer or selling some or all of the beneficial or economic holdings, and/or otherwise changing the intentions with respect to any and all. The securities reported on this Schedule consist of 1,020,000 Preferred Shares, initially convertible into 1,020,000 shares of Common Stock. As of March 22, 2017, 1,020,000 Preferred Shares and dividends thereon were convertible into 1,049,353 shares of Common Stock.

16:35 EDT The ONE Group announces departure of COO and CFO - The ONE Group Hospitality announced that Alejandro Munoz-Suarez, COO, and Samuel Goldfinger, CFO, will be leaving the Company to pursue other opportunities. Following the appointment of Manny Hilario to the board of directors last week, board member Richard Perlman notified the Company that he has stepped down from the board. The Company has commenced a search for a new CFO. Goldfinger has entered into a separation agreement with the Company pursuant to which he has agreed to assist the Company with its transition to a new CFO. Following Munoz-Suarez's departure, the board of directors has determined that the COO role will be temporarily eliminated as part of the Company's increased emphasis on licensing growth opportunities.

16:31 EDT United Continental says CEO Oscar Munoz will not be Chairman of Board - On April 21, United Continental Holdings and United Airlines, entered into the Second Amendment to Employment Agreement with Oscar Munoz, the Companies' CEO, amending his Employment Agreement with the Companies dated December 31, 2015, as first amended as of April 19, 2016. The Second Amendment, which was initiated by Munoz, removes the provisions in the Employment Agreement related to the future appointment of Munoz as Chairman of the Board of Directors of UCH, leaving future determinations related to the Chairman position to the discretion of the Board. As a result, the Second Amendment also modifies the definition of "Good Reason" such that the appointment of a Chairman of the Board other than Munoz, Robert A. Milton or Henry L. Meyer III would not constitute "Good Reason."

16:21 EDT Bridger Management reports 5.2% passive stake in Atara Biotherapeutics

16:15 EDT Cormorant AM reports 9.99% passive stake in Dicerna

16:13 EDT FuelCell extends Phase 1 CT project target date to October 28, 2019 - According to a regulatory filing, FuelCell Energy entered into the First Amendment of the Assistance Agreement. The State of Connecticut Office of the Attorney General approved the Amendment on April 17, 2017. This Amendment extends the Phase 1 Target Date by two years to October 28, 2019. The first phase of the project has commenced to expand the existing 65,000 square foot manufacturing facility in Torrington, CT by approximately 102,000 square feet for a total size of 167,000 square feet.

16:03 EDT Marcato Capital raises Buffalo Wild Wings stake to 6.2% from 5.6%

15:51 EDT Value Line raises quarterly dividend 5.88% to 18c per share - Value Line announced that its Board of Directors declared on April 21 a quarterly cash dividend of 18c per common share, payable on May 11 to stockholders of record on May 2. The company has 9,712,145 shares of common stock outstanding as of April 21. The Board of Directors also reaffirmed the Stock Repurchase Program of up to an aggregate of $3M of Value Line's common stock adopted on September 19, 2012, with $617,000 remaining under the program.

15:11 EDT Adamis Pharmaceuticals requests withdrawal of registration statement - The company is requesting the withdrawal of the Registration Statement, File No. 333-217400, because it was erroneously coded and filed as form type "S-3" rather than form type "S-3MEF" in accordance with a Rule 462(b) registration statement. The company submitted a registration statement pursuant to Rule 462(b) on April 21 with the proper EDGAR codes to identify it as a filing on form type "S-3MEF." The company hereby confirms that no securities have been sold pursuant to the Registration Statement.

15:08 EDT Pfizer receives 'positive' CHMP opinion for BESPONSA in European Union - Pfizer announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion recommending approval of BESPONSA in the European Union as monotherapy for the treatment of adults with relapsed or refractory CD22-positive B-cell precursor Philadelphia chromosome negative (Ph-) acute lymphoblastic leukemia and Philadelphia chromosome positive (Ph+) ALL, who have previously failed treatment with at least one tyrosine kinase inhibitor. The CHMP's opinion will now be reviewed by the European Commission. If approved, BESPONSA will be the first antibody drug conjugate available for patients with this type of leukemia.

14:46 EDT Fairpointe Capital reports 6.4% passive stake in Office Depot

14:04 EDT Bombardier names Jeff Hutchinson chief information officer - Bombardier announced the appointment of Jeff Hutchinson as Chief Information Officer, reporting to John Di Bert, Senior Vice President and Chief Financial Officer, Bombardier Inc. In this position, Hutchinson will be responsible for leading Bombardier's global IT, digital asset and cyber security functions. In this capacity, he will assume responsibility for establishing a strong portfolio of world-class IT strategies, services, and offerings, in support of Bombardier's 2020 goals and longer-term strategic plan.

13:50 EDT Novartis plans to launch three more biosimilars by 2020 - Sandoz, a Novartis division, announced that the EMA's Committee for Medicinal Products for Human Use has adopted positive opinions, separately recommending the approval of both Sandoz' biosimilar rituximab and biosimilar etanercept in Europe, to treat the same indications as their respective reference medicines. The company added: "Sandoz is committed to increasing patient access to high-quality, life-enhancing biosimilars. It is the pioneer and global leader in biosimilars, and currently markets three biosimilars worldwide. Sandoz has a leading biosimilar pipeline and, in addition to biosimilar rituximab and etanercept, plans to launch three more biosimilars of major oncology and immunology biologics across key geographies by 2020."

13:45 EDT Treasury not issuing waivers to U.S. companies for Russian drilling - Treasury Secretary Steven Mnuchin said in a statement to media outlets, "In consultation with President Donald J. Trump, the Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions."

13:22 EDT Maxim falls after automotive growth stalls, peers follow lower - Shares of semiconductor companies that make automotive chips are underperforming the broader market and the sector this afternoon after Maxim (MXIM) suggested a slowdown in automotive may be on the horizon, despite reporting third quarter earnings yesterday that came in ahead of expectations. Earlier today, Evercore ISI downgraded shares of Maxim. EARNINGS BEAT: For the quarter, Maxim reported earnings per share excluding items of 56c on revenue of $581.22M, beating analysts' estimates of 53c and $575.73M, respectively. EPS for the current quarter were forecast at 59c-65c on revenue of $590M-$630M. Prior to the earnings report, analysts expected Q4 EPS of 58c on revenue of $597.8M. FEARS OF AUTOMOTIVE SLOWDOWN: The importance of Maxim's automotive sector to investors was made most evident during the Q&A part of the chipmaker's quarterly earnings call when BMO Capital Markets analyst Ambrish Srivastava said, "To my knowledge, first time, at least I'm hearing, a company talk about a slowdown which has been feared by investors and everybody for a while." Maxim's growth in automotive has been on a torrid pace over the last few years and now accounts for 21% of total revenue. Bruce Kiddo, Maxon's CFO, noted at the start of the call that automotive was a significant driver in the firm's Q3 overall revenue growth. The company supplies a wide variety of automotive qualified ICs with a focus on power management, RF products, keyless access and high speed serial links. Growth has been exponential in the segment due to activity around conceptualizing the car of the future as well as strong auto sales over the last few years. The company makes technology for serial link products serving infotainment and driver assistance applications. Talk of "peak auto" and U.S sales plateauing may becoming a reality. Additionally, the much relied upon China sales appear to have hit a wall, as the country's rollback of a tax discount for small-engine cars slowed demand. Growth in China auto sales fell of a cliff in March growing just 1.7% a visible slowdown from the 6.3% growth in the first two month of the year. Since its last earnings report in late January, shares were up over 8% going into the Q3 earnings report. MAXIM SEES FLAT Q4 AUTOMOTIVE: During the call, President and CEO Tunc Doluca attributed the sluggish Q4 automotive outlook to difficult comparisons, especially to the most recent Q3 data. Doluca also pointed out that changes in government incentives for electric vehicles in China are having an impact on battery management product demand, and most alarmingly, the CEO confirmed signs of a weaker auto market in the U.S. "As a result, we expect our June quarter Automotive business to be sequentially flat from a very strong March quarter, and strongly up from the same quarter last year," Doluca said. EVERCORE ISI MOVES TO SIDELINES: Evercore ISI analyst C.J. Muse downgraded Maxim Integrated to In Line from Outperform, saying the diversification/margin story is largely complete and shares are near his $46 price target. Muse sees modest headwinds ahead including slowing China BMS business and lack of Apple exposure in 2H and recommends moving to the sidelines. "Now this is not a negative call on Automotive - we think 1HCY17 revenues tracking +20% Y/Y is not something to be terribly worried about," the analyst added. LOOP CAPITAL DEFENDS: Earlier today, Loop Capital analyst Betsy Van Hees attributed the after-hours weakness in Maxim Integrated shares despite the company's strong Q3 report and Q4 guidance to concerns over auto market commentary that may have been misinterpreted. After following up with management, she confirmed they were not making a broad sector call and she views concerns over a flat sequential guide in automotive as "much ado about nothing." Van Hees reiterated her Buy rating and $51 price target on Maxim shares. PRICE ACTION: Shares of Maxim are down 4% to $43.63, weaker than the chip sector as measured by the Philadelphia semiconductor index, which is down just fractionally in afternoon trading. PEERS ALSO LOWER: Shares of other semiconductor makers that derive revenue from automotive are also being dragged down including Texas Instruments (TXN), Infineon Technologies (IFNNY), ON Semiconductor (ON), Analog Devices (ADI) and Diodes (DIOD).

12:54 EDT American Water increases quarterly dividend 10.7% to 41.5c per share - American Water Works Company announced that its Board of Directors increased its quarterly cash dividend payment from 37.5c to 41.5c per share, a 10.7% increase. The company has increased its dividend every year since its IPO in April 2008. The increased payment is consistent with American Water's dividend practice, which is to link dividend increases to earnings per share growth and target a payout ratio between 50%-60% of net income. The increased dividend will be payable on June 1, 2017 to all shareholders of record as of May 5, 2017.

12:26 EDT Gilead: Harvoni studies show HCV cure rates of 99% in children, 100% in adults - Gilead Sciences announced results from two Phase 2 studies evaluating Harvoni tablets in chronic hepatitis C virus-infected patient populations not previously studied in dedicated clinical trials with direct-acting antiviral therapies. The studies demonstrated HCV cure rates of 99% in children aged 6 to 11 years, and 100% in adult patients co-infected with HCV and hepatitis B virus. Detailed results from these studies were presented this week at The International Liver Congress 2017 in Amsterdam. "Gilead continues to study the safety and efficacy of our medicines in HCV-infected patients with unmet medical need, to help realize the potential for cure," said Norbert Bischofberger, PhD, Executive Vice President of Research and Development and Chief Scientific Officer, Gilead Sciences. "In these studies of younger children with hepatitis C and HCV/HBV co-infected patients, Harvoni achieved high cure rates and demonstrated safety consistent with the known profile of the drug." The estimated prevalence of HCV infection in children is up to 0.4% in Europe and the United States and up to 6% in resource-limited countries. For children 6-11 years of age weighing less than 35 kilograms, interferon plus RBV for up to 48 weeks remains the standard of care. Results from an open-label Phase 2 study, led by Karen F. Murray, MD, Professor of Pediatrics at Seattle Children's Hospital in Seattle, Washington, evaluating an investigational dosage strength of a once-daily single tablet of Harvoni in HCV-infected children aged 6 to 11 years, demonstrated cure rates of 99%. Genotype 1 patients received 12 weeks of treatment; one genotype 1 patient who had cirrhosis and prior treatment failure with pegylated interferon plus RBV received 24 weeks of treatment; genotype 3 patients received Harvoni plus RBV for 24 weeks; genotype 4 patients received Harvoni for 12 weeks. One treatment-naive genotype 1 patient relapsed; all other patients achieved SVR12, the primary efficacy endpoint. The most common adverse events all of which were mild to moderate in severity, were abdominal pain, headache, diarrhea, vomiting, nausea, fatigue, pyrexia, cough and oropharyngeal pain. No patients discontinued therapy.

12:08 EDT Genuine Parts says jury awards damages of $81.5M against company, NAPA - As disclosed in the company's prior SEC filings, the company is defending a number of product liability lawsuits, many of which involve claims of personal injury allegedly resulting from the use of automotive parts previously distributed by the company. The company has routinely defended lawsuits of this nature for over 20 years and considers this litigation to be in the ordinary course of business. Throughout this history, the company has never settled or otherwise resolved a case for a material amount. In a regulatory filing today, Genuine Parts said that on April 17, a jury awarded damages of $81.5M against the company and the National Automotive Parts Association. NAPA is an automotive parts trade association of which the company is the sole member. The awarded damages are before offsets from previous settlements and potential bankruptcy trust claims, which are not currently known as a result of the judicial process, but are expected to reduce the initial awarded damages.The company is disappointed with the jury's verdict, but recognizes that it is just the first step of a multi-step legal process. The company believes the verdict is not supported by the facts or the law and is contrary to the company's role in the automotive parts industry. The company intends to challenge the verdict through post-trial motions and, if necessary, on appeal to a higher court. Based upon the company's legal defenses, insurance coverage and reserves, the company does not believe this matter will have a material impact to the financial statements; however, this assessment may change as additional facts are known and the judicial process progresses.

11:45 EDT With Harrison having switched trains, analysts upgrade CSX, cut CP - Two railways names linked by a recent executive change - CSX (CSX) and Canadian Pacific (CP) - are on track for weekly advances after each reported quarterly results earlier this week. However, CSX and Canadian Pacific's reports have sparked different reactions on Wall Street, with analysts upgrading the former to Buy-equivalent ratings and a firm cutting its rating on the latter's shares to Hold. RESULTS: With Hunter Harrison now at the helm of CSX after leaving Canadian Pacific, the former railway operator reported first quarter earnings per share of 51c and revenue of $2.87B, both above consensus. The company also announced a new $1B share repurchase program, which management expects to complete by the end of the first quarter of 2018, and raised its quarterly dividend to 20c per share from 18c. Meanwhile, Canadian Pacific reported first quarter adjusted earnings per share of C$2.50 and revenue of C$1.6B, slightly beating consensus of C$2.48 and C$1.59B, respectively. However, the company said it sees single-digit adjusted diluted earnings per share growth in 2017, with consensus at C$11.51. BUY CSX: In a post-earnings research note, Raymond James analyst Patrick Brown upgraded CSX to Outperform from Market Perform, with a $55 price target, citing a review of the opportunity for the company under its "highly experienced and successful" new CEO Hunter Harrison. While "material value recognition" has already been garnered, the analyst told investors that he believes CSX is at an inflection point and should see significant improvement in service, margins, and free cash flow in coming years. The analyst said the first quarter conference call provided detail on redesign plans and that he is more confident that an improved network can create operational improvements. James noted that he expects the redesigned network will streamline operations and his optimization model suggest sub-60% OR is achievable. In a note of his own, his peer at Aegis also upgraded CSX to Buy from Hold, voicing a similar opinion. Analyst Jeffrey Kauffman pointed out that the quarter provided him with "extreme detail" of Harrison's progress, pointing out that four rails yards are already switching from hump classification to flat switching, and as system velocity and dwell time improves, there are substantial asset utilization savings. Also this morning, Stephens analyst Justin Long raised his price target for CSX to $58 from $44, citing first quarter results and reiterated an Overweight rating on the shares. Meanwhile, UBS analyst Thomas Wadewitz raised his price target on the shares to $60 from $57, noting that after only six weeks since CEO Hunter Harrison started at CSX, the company's 2017 financial guidance and its commentary on the earnings call show that the velocity of change is greater than he had expected. CSX delivered an "upside surprise" regarding the pace of change and cost side improvement, the analyst contended, adding that he continues to believe upside potential is attractive for CSX and would buy the name. MOVING TO THE SIDELINES ON CANADIAN PACIFIC: Conversely, Loop Capital analyst Rick Paterson downgraded Canadian Pacific to Hold from Buy, saying the stock has closed to within 4% of his price target, and that he believes its much vaunted "pivot to growth" will take longer than the market thinks. Additionally, the analyst pointed out that the company's marketing team also needs time to build momentum. Nonetheless, Paterson raised his price target on Canadian Pacific's shares to C$215 from C$210. PRICE TARGET: In late morning trading, shares of CSX have gained about 1.5% to $50.31, while Canadian Pacific shares trading in New York have dropped about 1% to $152.31. For the week, CP shares are on track for a 1.5% advance, while CSX is currently on pace for a weekly gain of over 8%.

11:34 EDT Immunomedics slides after Jefferies confirms no update at ASCO - Shares of Immunomedics (IMMU) are sliding after Jefferies analyst Matthew Andrews said he has confirmed with the company that there will be no IMMU-132 update at ASCO, which will take place between June 2-6 in Chicago. NO UPDATE: Jefferies' Andrews had expected Immunomedics to provide an update on IMMU-132, an ADC that contains SN-38, the active metabolite of irinotecan, approved by the U.S. Food and Drug Administration as a chemotherapeutic for patients with cancer. However, the analyst told investors in a research note that he has confirmed with the company that there will be no update at the American Society of Clinical Oncology annual meeting. Immunomedics had tentatively been targeting a LBA submission in triple-negative breast cancer but the data in the about 15 remaining patients are not mature enough at this time and would not be a meaningful update on the 85 patient update with confirmed responses in mid-January 2017, Andrews added. PRICE ACTION: In late morning trading, shares of Immunomedics have dropped over 13% to $5.20.

11:30 EDT Immunomedics slides after Jefferies confirms no update at ASCO - Shares of Immunomedics (IMMU) are sliding near midday after Jefferies analyst Matthew Andrews said he has confirmed with the company that there will be no IMMU-132 update at ASCO, which will take place between June 2-6 in Chicago. NO UPDATE: Jefferies' analyst Andrews had expected Immunomedics to provide an update on IMMU-132, an ADC that contains SN-38, the active metabolite of irinotecan, approved by the U.S. Food and Drug Administration as a chemotherapeutic for patients with cancer. However, the analyst told investors in a research note that he has confirmed with the company that there will be no update at the American Society of Clinical Oncology annual meeting. Immunomedics had tentatively been targeting a LBA submission in triple-negative breast cancer but the data in the about 15 remaining patients are not mature enough at this time and would not be a meaningful update on the 85 patient update with confirmed responses in mid-January 2017, Andrews added. PRICE ACTION: In late morning trading, shares of Immunomedics have dropped 12.6% to $5.22.

11:06 EDT Immunomedics down over 11% in early trading - Immunomedics shares have fallen 68c, or 11.4%, to $5.30 in early trading.

10:39 EDT Bunge acquires Argentine Edible Oil; financial terms not disclosed - Bunge says that on April 11, Bunge Southern Cone and Aceitera Martinez S.A. announced that the two companies have entered into an agreement to transfer all of Aceitera Martinez's assets to Bunge. A family-run business for more than 60 years, Aceitera Martinez specializes in the production and packaging of edible oils, including sunflower and soybean oil. The acquisition covers all of the oil company's assets and includes a modern production plant located in San Jeronimo Sud, near Bunge's refining center. The facilities, equipped with state-of-the-art technology and three packaging lines, have an installed capacity of approximately 20,000 tons per month. "This acquisition allows us to strengthen our value-added position in the agrifood chain and ratifies Bunge's deep commitment to national production," said Enrique Humanes, CEO of Bunge Southern Cone. "In the coming years, our commitment will be to meet the demand for higher value-added products, expand our portfolio and generate a more appropriate asset allocation, all of which responds to Bunge's strategic vision for our Food & Ingredients business."

10:26 EDT Fitch: Settlement deal between Arconic, Elliott 'becoming more unlikely' - Elliott Management's proxy battle with Arconic could evolve into one of the most notable examples of shareholder activism this year, according to Fitch Ratings. U.S. corporations have become increasingly inclined to enter into amicable settlements with dissident investors in lieu of drawn-out proxy battles due to the time and costs involved. However, as Arconic's May 16, 2017 annual meeting draws near, the possibility of a settlement agreement between Elliott and Arconic, following a spate of widely followed events, is becoming more unlikely. Fitch says, "Shareholders have a great deal to ponder on when rendering votes at the Arconic meeting, taking into account current events such as Elliott's push to replace Arconic's now ousted CEO, after his decision to go rogue with an insinuating letter to Elliott, numerous discrediting presentations by both parties, vote-buying allegations and Arconic's notice that its pension plan would require a sizeable contribution in the event of a change of control. Both parties are seemingly exhausting every option to garner shareholder support but there appears to be an overwhelming amount of conflict hindering any settlement. Elliott is intent on gaining greater board representation in order to implement strategies to further maximize value for shareholders but the incumbent board is standing its ground."

10:23 EDT Barclays upgrades Costco after protection from Amazon shown in survey - The shares of Costco (COST) are rising slightly after Barclays upgraded the stock to Overweight from Equal Weight. After reviewing the results of its consumer survey, the firm says that Costco is "very protected from" the Amazon (AMZN) threat impacting so many others in brick-and-mortar retailing. SURVEY RESULTS AND ANALYSIS: Barclays' survey of 600 consumers showed that more than 80% of them go to Costco in order to buy food, reported Barclays analysts Karen Short and Matthew McClintock. As a result, the analysts believe that Costco is "very protected" from Amazon. OTHER FACTORS: Easier comparisons, increased investments, and potentially higher gas prices should enable Costco's comparable sales and traffic growth to accelerate, Short and McClintock believe. Additionally, Costco may declare a special dividend or a dividend enabled by a tax break on the repatriation of overseas cash, the analysts stated. TARGET: The analysts increased their price target on Costco to $185 from $170. PRICE ACTION: In morning trading, Costco gained 0.5% to $171 per share.

10:19 EDT Honeywell says 'quite a bit' of uncertainty around geopolitical environment - Says still optimistic that tax reform will happen.

10:15 EDT Observations at VA shows Merck's Zepatier has high SVR for HCV - Merck announced the presentation of findings from a retrospective database analysis of patients with chronic hepatitis C virus, HCV, infection who were administered ZEPATIER in the U.S. Department of Veterans Affairs, VA, healthcare system. For the evaluable population, 95.6% of veterans treated with ZEPATIER achieved the primary outcome of sustained virologic response, SVR, defined as undetectable HCV RNA at least twelve weeks after the end of treatment. For patients with no HCV RNA measurements at or after 12 weeks, the analysis used HCV RNA measurements available at least four and less than 12 weeks after the end of treatment. The response rates in the real-world setting of the VA supplement the overall findings from the controlled clinical studies of ZEPATIER. These findings will be presented today in an oral session at The International Liver Congress 2017 being held in Amsterdam, the Netherlands. Analysis of data from real-world medical settings can provide useful insights to supplement knowledge gained from randomized clinical trials," said Susan Shiff, senior vice president, center for observational and real-world evidence, Merck. "These data from a real-world VA setting add to the body of evidence on ZEPATIER and help deepen scientific understanding of the treatment of this complex disease affecting diverse, sometimes difficult to treat, patient populations."

10:08 EDT Intelsat extends agreement with Starz for Galaxy fleet programming distribution - Intelsat S.A. (I) announced that Starz, a Lionsgate company (LGF.A, LGF.B), has extended its commitment for distribution services on the Intelsat Galaxy satellites. Under the agreement, Intelsat will provide a combination of broadcast and IntelsatOne services for Starz, which currently distributes 49 channels/feeds on the Intelsat fleet. This includes content distribution via the Intelsat Galaxy 13, Galaxy 14 and Galaxy 15 satellites. Intelsat will also provide disaster recovery services through a secondary uplink chain from Intelsat's teleport in Castle Rock, Colorado.

09:35 EDT GE sees Iraq power grid order likely to be announced next week - GE said on its Q1 earnings call that within the Power segment, Grid's first quarter performance was impacted by orders delays in the Middle East that will close in the second quarter, specifically a large order in Iraq. The agreement, which executives called the "biggest service deal in the history of our power system services business in the Middle East" and a "really phenomenal transaction" is going to close and be announced next week, they said they believe.

09:31 EDT Rockwell Collins says plans to lower debt leverage to under 3x EBITDA in 2 years

09:17 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Honeywell (HON), up 3.1%... Visa (V), up 2.2%... Hawaiian Holdings (HA), up 4.7%... Stanley Black & Deckern (SWK), up 2.8%... KSU (KSU), up 1.6%... Rockwell Collins (COL), up just under 1%... General Electric (GE), up marginally. ALSO HIGHER: Ocwen Financial (OCN), up 13.3% after announcing it disputes allegations raised by state regulators and after being upgraded to Buy from Neutral at Compass Point... New Residential (NRZ), up 2.6% following Ocwen Financial's announcement and upgrade... Diana Shipping (DSX), up 5% after its 17.5M share Secondary priced at $4.00. DOWN AFTER EARNINGS: ManpowerGroup (MAN), down 1.2%... Mattel (MAT), down 6%... Manhattan Associates (MANH), down 5.3%. ALSO LOWER: Hasbro (HAS), down 1.6% after Mattel reported quarterly results... Adamis Pharmaceuticals (ADMP), down 18.2% after its 4.3M share Spot Secondary priced at $3.50.

09:15 EDT Rockwell Collins sees low-mid single digit growth for gov't business in FY17

09:13 EDT Rockwell Collins sees FY17 CapEx 3%-3.5% of sales

09:08 EDT Rockwell Collins says has 'nice momentum' in FY17 - Says confident in achieving $160M cost synergies target with B/E Aerospace. Comments from company's Q2 earnings conference call.

09:02 EDT Richmond Brothers, Ravich urge Rockwell investors to vote for their nominee - Richmond Brothers, Inc., a Michigan-based SEC registered investment advisor and wealth management firm that is the largest beneficial owner of Rockwell Medical, and Mark H. Ravich, who together with their affiliates beneficially own over 6.1 million shares, or 11.8% of the company's outstanding common stock, today sent a letter to Rockwell shareholders urging them to vote for Mark H. Ravich for election to the Board at the upcoming annual meeting of shareholders. The full text of the letter follows: "For far too long, Rockwell's Board has demonstrated an inability to execute on strategic initiatives, failed to prepare itself or management with the right personnel to successfully bring its two already-approved drugs to market, consistently overpromised and under delivered, exhibited abhorrent corporate governance practices, and has revealed an unwillingness to communicate or work constructively with shareholders. In short, Rockwell has seemingly checked all the boxes in the 'How Not to Run a Company' playbook. Perhaps the most frustrating issue we have observed at Rockwell is the historical lack of pay for performance alignment. Despite the Company losing half its value in three years, Chairman and CEO Robert Chioini has remained handsomely compensated. Worse, the Rockwell Board has approved highly dilutive equity compensation plans enabling insiders to enrich themselves, with egregious stock options grants, all while the Company has floundered and delivered strikingly negative returns for shareholders. While Rockwell recently pared back one of the worst aspects of its latest proposed equity compensation plan, we view that action as a direct result of our public criticism and yet another reason why a true champion of shareholder rights is needed on the Board. We have on a number of occasions, over the course of several years, attempted to engage in a constructive dialogue with Mr. Chioini and make value enhancing suggestions that we believe would benefit shareholders, including encouraging him to provide shareholders with his long-term strategy and plan for the commercialization of Triferic and Calcitriol, but have, in our view, consistently been rebuffed. We believe that Rockwell has a sad history of disappointing performance, entrenched and self-enriching management, a Board that has failed to adequately oversee the Company, and a true lack of good corporate governance. We are providing you with an opportunity to elect a director committed to improving the Company's corporate governance and representing the best interests of shareholders - the true owners of the Company."

08:58 EDT Schlumberger to acquire 49% interest in JV with YPF - On April 12, Schlumberger and YPF announced the signing of a preliminary agreement for a joint venture in a shale oil pilot project in the Bandurria Sur Block in Vaca Muerta, Neuquen. Schlumberger will provide reservoir knowledge, integrated field studies, drilling and completions services, and associated infrastructure. The agreement involves a $390 million phased investment by Schlumberger, which includes a significant contribution in-kind of its services at market pricing. Upon satisfaction of certain closing conditions, Schlumberger will acquire a 49% interest in the joint venture, and the remaining 51%, along with the operatorship of the block, will be held by YPF.

08:51 EDT Willis Towers Watson discloses formal investigation by FCA - In a regulatory filing, Willis Towers Watson (WLTW) disclosed that on April 4, the Financial Conduct Authority informed Willis Limited, our U.K. brokerage subsidiary, that it has opened a formal investigation into possible agreements/concerted practices in the aviation broking sector, which represents less than $100M of Willis Towers Watson's revenues. "We are cooperating with the FCA. Given the status of the investigation, we are currently unable to assess the terms on which this investigation will be resolved," the company said. Marsh Limited (MMC) disclosed this morning that the FCA recently conducted an on-site inspection at Marsh Limited's office in London and that it is cooperating fully with the FCA's investigation

08:47 EDT American Securities completes acquisition of Air Methods - Air Methods Corporation and American Securities LLC, a U.S. private equity firm, announced the closing of American Securities' acquisition of Air Methods. Goldman, Sachs & Co. and Centerview Partners LLC served as financial advisors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Holland & Hart LLP served as legal advisors to Air Methods. Barclays served as financial advisor, and Weil, Gotshal & Manges LLP served as legal advisor to American Securities. As of today, Air Methods' common stock will no longer trade on the NASDAQ Stock Market.

08:46 EDT LabCorp's Covance to expand large-molecule development capabilities in the U.K. - LabCorp announced that its Covance Drug Development business will expand its biopharmaceutical chemistry, manufacturing and control capabilities based in Harrogate, England, into leased space at the National Agri-Food Innovation Campus in York, England, which is purpose-built for laboratory and scientific services. BioPharmCMC solutions are part of a biologic's development and manufacturing pathway to determine its safety, quality, identity, strength and purity. "This investment by Covance in new laboratories at the National Agri-Food Innovation Campus in York is another boost for the U.K.'s GBP 64bn life sciences and biopharma sectors," said Greg Hands, U.K. minister of state for trade and investment. "It will add more high-skilled jobs to the approximately 1,000 Covance employees already in Harrogate and strengthen the U.K.'s leadership in the discovery and development of new medicines and treatments for use around the world." Opening in late 2017, the laboratory extension in York will allow Covance to continue to serve expanding global demand for large-molecule medicines, including antibodies, vaccines, biosimilars and cell-based and gene therapies.

08:44 EDT General Motors says forced to cease operations in Venezuela - Established in 1948, General Motors Venezolana is forced to cease operations in Venezuela due to an illegal judicial seizure of its assets. On Wednesday, GMV's plant was unexpectedly taken by the public authorities, preventing normal operations. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities. The seizure was granted and enforced in total disregard of GMV's right to due process, causing irreparable damage to the company, its 2,678 workers, its 79 dealers, and to its suppliers. As a consequence, GMV announces the immediate cessation of its operations in the country, and ensures payment of the employees' separation benefits arising from the termination of the employment relationships due to causes beyond the parties' control. GMV strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights. The company is confident that justice will eventually be served, and looks forward to continue leading the Venezuelan market. In the meantime, GMV, through its dealers, will continue to provide aftermarket service and parts for its customers.

08:41 EDT Ameris Bancorp sees normalized ROTCE of 14%-15% for 2017 - Says goals include managing momentum to produce 20%+ growth in loans and deposits in 2017; insulate company from rate movements, economic swings; grow capital levels, book value through higher than average ROA, ROTCE. Sees normalized ROTCE of 14%-15% for 2017. Says making "accelerated" progress on BSA, on track with all deadlines. Comments from slides that will be presented on the Q1 earnings conference call.

08:35 EDT GE CEO sees global growth accelerating while U.S. economy improves - GE (GE) Chairman and CEO Jeff Immelt said on the company's Q1 earnings call that the company sees global growth accelerating while the U.S. continues to improve. "Since the beginning of 2017, I visited China, Africa, Latin America and Southeast Asia. All are stronger than last year," Immelt added on the call, which is continuing.

08:32 EDT Visa reports investigative demand from Ohio AG in regulatory filing - In a regulatory filing, Visa said that on January 19, the State of Ohio Office of the Attorney General issued an investigative demand to Visa seeking documents and information focusing on Visa's rules related to the acceptance of Visa debit cards, as well as cardholder verification methods and the routing of Visa debit transactions. Visa is cooperating with the Attorney General.

08:08 EDT Preliminary approval granted in class action settlement regarding Halliburton - Preliminary approval was granted in the class action settlement involving purchasers of Halliburton common stock between August 16, 1999 and December 7, 2001.

08:05 EDT PGT, Inc. announces expansion plans in Miami - PGT Innovations announcedexpansion plans for a new 330,000 sq. ft. manufacturing facility in Miami, Florida. The new facility will enhance the company's manufacturing capabilities to meet future expected growth of the impact-resistant window and door market. The company currently has 182,000 sq. ft. of offices and manufacturing space in Miami. The CGI brand will move its offices and manufacturing facility into the new space which is located approximately 12 miles from their current location. The new facility is designed to produce the company's CGI branded products, along with various other commercial and PGT aluminum products. The new space is slated to be complete near the end of 2017 and is expected to be operational by January 2018.

08:02 EDT Rice Midstream raises quarterly distribution to 26.08c per unit - Rice Midstream Partners announced the Board of Directors of its general partner has approved a cash distribution of 26.08c per unit for the first quarter, an increase of 4% above the fourth quarter 2016 distribution. The distribution is payable on May 18 to unitholders of record on May 9.

08:01 EDT Wells Fargo expands class-action settlement for retail sales practices to $142M - Wells Fargo & Company announced the expansion of its class-action settlement for retail sales practices to include any customers who were impacted by sales practice issues as early as May 2002. The updated settlement will add $32M to the previous agreement for a total settlement amount of $142M. "The expansion of this agreement is another important step to make things right for our customers," said Tim Sloan, Wells Fargo's President and CEO. "On our journey to rebuild trust, we want to ensure our customers feel confident that we have heard their concerns about retail sales practices, which includes offering them numerous opportunities for remediation. We encourage any customer with concerns or questions about their accounts to contact us." The settlement builds on ongoing remediation efforts Wells Fargo is pursuing for customers who may have been impacted by sales practice issues. The company is working directly with customers to resolve issues through its complaints process. In addition, if Wells Fargo is unable to resolve issues directly, customers who believe they received a product or service they did not want or authorize are offered a free mediation service with an independent third-party mediator. Wells Fargo has submitted the class-action settlement agreement and summary of claims process in the Northern District of California to settle the lawsuit concerning retail sales practices. The updated settlement agreement takes into account findings from the Sales Practices Investigation conducted by the independent board directors of Wells Fargo. The settlement class now will consist of all customers who claim that Wells Fargo opened an account in their name without consent, enrolled them in a product or service without consent, or submitted an application for a product or service in their name without consent during the period from May 1, 2002, through April 20, 2017. Wells Fargo expects this settlement to resolve claims in 11 other pending class actions that unauthorized accounts were opened in customers' names or that customers were enrolled in products or services without their consent.

07:41 EDT NextEra Energy Partners continues to see 12%-15% per year growth in distribution - From a base of its fourth-quarter 2016 distribution per common unit at an annualized rate of $1.41, NextEra Energy Partners continues to expect 12%-15% per year growth in limited partner distributions as being a reasonable range of expectations through at least 2022. The partnership expects the annualized rate of the fourth-quarter 2017 distribution to be in a range of $1.58 to $1.62 per common unit, meaning the fourth-quarter distribution that is payable in February 2018. NextEra Energy Partners continues to expect a Dec. 31, 2017, run rate for adjusted EBITDA of $875M-$975M and CAFD of $310M-$340M, reflecting calendar year 2018 expectations for the forecasted portfolio at year-end Dec. 31, 2017.

07:39 EDT NextEra Energy Partners agrees to acquire 250MW wind energy center - The board of directors of the general partner of NextEra Energy Partners has reached an agreement with the partnership's sponsor, NextEra Energy Resources, to acquire the Golden West Wind Energy Center. The Golden West Wind Energy Center is an approximately 250-megawatt wind project in Colorado that entered service in October 2015 and sells 100 percent of its output under a 25-year power purchase agreement. The transaction, which is expected to close in early May of this year, "represents another step toward growing limited partner unit distributions in a manner consistent with the previously announced expectations of 12%-15% per year through at least 2022," the company said. The partnership expects to acquire the Golden West Wind Energy Center for a total consideration of approximately $238M, subject to working capital and other adjustments, plus the assumption of approximately $184M in liabilities related to tax equity financing. The purchase price for the transaction will be funded entirely through existing debt capacity and will be accretive to limited partner unitholders. The acquisition is expected to contribute adjusted EBITDA of approximately $53M-$63M and CAFD of approximately $22M-$27M, each on an annual run-rate basis as of Dec. 31, 2017.

07:33 EDT Valeant to list SILIQ injection at $3,500 per month - Valeant announced that following the evaluation and approval of its Patient Access and Pricing Committee, the company has decided to list SILIQ (brodalumab) injection, at $3,500 per month, which is the lowest injectable biologic psoriasis treatment currently on the market. SILIQ will also be included in the company's patient access program to further offer financial support and access to patients. SILIQ, a monoclonal antibody that targets the IL-17 receptor for patients with moderate-to-severe plaque psoriasis, is indicated for the treatment of moderate to severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy and have failed to respond or have lost response to other systemic therapies. SILIQ is the only product that included the psoriasis area and severity index (PASI 100) during clinical trials as a primary endpoint. The sales and marketing of SILIQ are expected to commence in the U.S. during the second half of 2017.

07:19 EDT Amazon.com opening three additional New Jersey fulfillment centers - Amazon.com announced plans to open three additional fulfillment centers in New Jersey. The new sites in Cranbury Township, Edison and Logan Township will create more than 2,500 new, full-time jobs.

07:07 EDT Steven Madden CEO says Q1 was 'strong' start to 2017 - Edward Rosenfeld, Chairman and CEO, commented, "We are pleased to have started off 2017 with a strong first quarter. The highlight was our Steve Madden Women's wholesale footwear division, where we had another quarter of outstanding growth in a challenging retail environment. Steve and his design team have created an exceptional product assortment that is enabling us to outperform the competition and take market share with our flagship brand. As we look ahead to the balance of the year, we are taking a prudent approach to planning our business in light of retail industry headwinds. That said, the strength in our core business gives us confidence that we are well-positioned to navigate the uncertain environment."

07:05 EDT Wells Fargo says invested $67B in 2016 to advance CSR goals - Wells Fargo & Company said that the company invested nearly $67B in lending capital and grants during 2016 toward achieving its 2020 Corporate Social Responsibility goals that were set last year to help create solutions to address global challenges and strengthen communities. Wells Fargo's 2016 CSR Interim Report details the company's performance and progress in addressing three areas of strategic focus: advancing diversity and social inclusion, creating economic opportunities in underserved communities, and accelerating the transition to a lower-carbon economy and a healthier planet. Among other accomplishments, last year the company invested $17.6B in financing for clean technology and other environmentally sustainable businesses; $38M in grants and lending capital to help diverse small business grow; $49B in new mortgages for minority and low- and moderate-income households; $50M in the Neighborhood LIFT program; and $281.3M in grants to 14,500 nonprofits.

07:04 EDT Schlumberger still sees FY17 CapEx $2.2B - Capex excluding multiclient and SPM investments is expected to be $2.2 billion for 2017.

07:02 EDT Schlumberger says 'pursuing broad and active M&A program' - Schlumberger says, "As the recovery builds momentum, industry cash flow and productivity remain under pressure and limit the industry's ability to increase present levels of E&P investment. At the same time, the value chain remains focused on trying to capture the limited value that is created, rather than seeking new ways to collectively create more value. This approach is not sustainable, either from addressing the underlying industry challenges or from ensuring that the future supply of hydrocarbons can meet the projected growth in demand. At Schlumberger, we are therefore actively seeking to position the company at the forefront of an industry that needs to evolve. We are doing this by proactively managing our base business and responding to the ongoing pressures of commoditization, tailoring our offering and performance to the prevailing market conditions. In parallel, we are constantly looking to expand our opportunity set by pursuing a broad and active M&A program; engaging with existing and new customers to establish closer collaboration and more aligned business models; and expanding our offering from technical support to investing alongside our customers in their projects-all with the aim of driving more activity for our 19 product and service lines. As we continue to carefully navigate the current industry landscape, we remain confident and optimistic about the future of Schlumberger, knowing very well that beyond the current market challenges lies a wealth of opportunity for the industry players who are ready and able to think new and to act new."

06:42 EDT Enanta: Glecaprevir/pibrentasvir shows virologic response in AbbVie's HCV study - Enanta Pharmaceuticals (ENTA) reported that AbbVie (ABBV) announced high SVR rates were achieved with 8 weeks of treatment with its investigational, once daily, ribavirin-free, pan-genotypic regimen of glecaprevir/pibrentasvir in patients with challenging-to-treat genotype 3 chronic hepatitis C virus infection. In results from AbbVie's Phase 3 ENDURANCE-3 study, 95% of GT3 chronic HCV-infected patients without cirrhosis and who were new to treatment achieved sustained virologic response at 12 weeks post-treatment following 8 weeks of treatment with G/P. These results will be featured as an oral presentation at The International Liver Congress in Amsterdam. In addition to evaluating 8 weeks of treatment with G/P, the ENDURANCE-3 study was designed to evaluate whether 12 weeks of G/P treatment is non-inferior to 12 weeks of sofosbuvir plus daclatasvir, a current standard of care for GT3 chronic HCV-infected patients. SVR12 rates of 95% were seen in both 8 weeks and 12 weeks of treatment with G/P. Additionally, 12 weeks of treatment with G/P was demonstrated to be non-inferior to 12 weeks of treatment with SOF+DCV. In the ENDURANCE-3 study, no patients who received 8 weeks of G/P discontinued treatment due to adverse events. Authorization applications for G/P are currently under review by regulatory authorities around the world. G/P has been granted accelerated assessment by the European Medicines Agency, and priority review designations by the FDA and Japanese Ministry of Health, Labour and Welfare. G/P is an investigational regimen and its safety and efficacy have not been established.

06:41 EDT Honeywell reports Q1 sales flat on reported basis, up 2% on organic basis - Honeywell sales for Q1 were flat on a reported basis and up over 2% on an organic basis. The difference between reported and organic sales is due to the impact of foreign currency translation, the 2016 spin-off of the former Resins and Chemicals business in Performance Materials and Technologies, and the 2016 divestiture of the Aerospace government services business, partially offset by acquisitions, primarily Intelligrated in Safety and Productivity Solutions. The first-quarter financial results can be found in Tables 1 and 2 below. Aerospace sales for the first quarter were flat on an organic basis driven by growth in the Air Transport aftermarket and gas turbo penetration in Europe and China, offset by lower OE volumes in Business and General Aviation. Overall, Defense and Space sales were flat on an organic basis in the quarter. Segment margin expanded 90 bps to 22.4%, driven by restructuring benefits, productivity net of inflation, and commercial excellence, partially offset by lower Business and General Aviation volumes. Home and Building Technologies sales for the first quarter were up 3% on an organic basis driven by strong performance in Distribution, air and water products growth in China, and the impact of new product introductions. Segment margin expanded 70 bps to 15.2%, driven by restructuring benefits and productivity net of inflation, partially offset by growth investments. Performance Materials and Technologies sales for Q1 were up 5% on an organic basis driven by a continued increase in Solstice sales in Advanced Materials and strong modular gas processing growth in UOP. Segment margin expanded 260 bps to 22.8%, driven by productivity net of inflation, commercial excellence, and higher sales volume. Safety and Productivity Solutions sales for the first quarter were up 3% on an organic basis as a result of higher volumes in safety products and workflow solutions. Segment margin improved 50 bps to 14.7%, primarily driven by restructuring benefits and productivity, net of inflation, partially offset by acquisition amortization and integration costs. Excluding the impact of acquisitions, segment margin expanded by more than 300 bps.

06:35 EDT Ocwen disputes allegations raised by state regulators - Ocwen Financial issued the following statement in response to receiving cease and desist orders from state mortgage regulators (State Regulators): "As with the recent CFPB enforcement action, Ocwen strongly disputes the key allegations made in the State Regulators' cease and desist orders that Ocwen's mortgage loan servicing practices have caused substantial consumer harm. Ocwen will not sign unfair and unjust consent orders that make impractical demands that no other market participant could rationally accept, and which would harm consumers. Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the Company against unfounded claims while continuing to work with State Regulators to resolve any valid concerns."

06:34 EDT GE's Immelt says continuing portfolio transformation - GE (GE) Chairman and CEO Jeff Immelt says GE is continuing its portfolio transformation and investing in innovations in GE Digital and GE Additive. Our planned combination of GE Oil & Gas and Baker Hughes (BHI) remains on track, and we expect the deal to close in mid-2017. We are executing a $2B cost out program over 2017 and 2018 to deliver more value to our customers, shareowners, and employees."

06:34 EDT General Electric says industrial cash performance 'below expectations' - Says industrial cash performance "below expectations," but expects sequential improvement.

06:33 EDT Rockwell Collins CEO says 1H17 operating performance 'has been very good' - "The operating performance of our business through the first half of 2017 has been very good," said Rockwell Collins Chairman, President, and CEO, Kelly Ortberg. "In the quarter, growth in our Government Systems, Information Management Services, and Air Transport businesses were partially offset by sales headwinds from lower business jet OEM deliveries. Operating margins grew 30 basis points over last year as we continued to realize the benefit of cost saving initiatives across all of our businesses." Ortberg continued, "It's an exciting time as we welcome B/E Aerospace's talented employees to Rockwell Collins and bring these two industry leaders together. We have updated our fiscal year 2017 financial guidance to include our new Interior Systems segment, which will be accretive to adjusted earnings per share right out of the gate in fiscal year 2017. We are now focused on integrating the business and achieving our synergy plans."

06:32 EDT General Electric CEO says reaffirms 2017 operating framework - Chairman and CEO Jeff Immelt says, "The first quarter was a strong start to the year with organic revenues +7%, orders +10%, and Industrial operating margin +130bps. We delivered $0.21 of Industrial operating + Verticals* earnings per share, flat as reported, but +12% excluding gains and restructuring. We returned $4.4 billion to shareowners through dividends and buyback. Industrial operating cash flows were negative $1.6 billion driven primarily by an increase in working capital and timing of billings on our long-term equipment and service contracts. We expect cash flows to improve throughout the remainder of the year, with no change to our full year cash flow framework. We reaffirm our 2017 operating framework for Industrial operating + Verticals EPS, organic revenue growth and Industrial operating margin expansion."

06:26 EDT Enanta's glecaprevir/pibrentasvir shows virologic response in AbbVie's HCV study - Enanta Pharmaceuticals (ENTA) reported that AbbVie (ABBV) announced high SVR rates were achieved with 8 weeks of treatment with its investigational, once daily, ribavirin-free, pan-genotypic regimen of glecaprevir/pibrentasvir in patients with challenging-to-treat genotype 3 chronic hepatitis C virus infection. In results from AbbVie's Phase 3 ENDURANCE-3 study, 95% of GT3 chronic HCV-infected patients without cirrhosis and who were new to treatment achieved sustained virologic response at 12 weeks post-treatment following 8 weeks of treatment with G/P. These results will be featured as an oral presentation at The International Liver Congress in Amsterdam. In addition to evaluating 8 weeks of treatment with G/P, the ENDURANCE-3 study was designed to evaluate whether 12 weeks of G/P treatment is non-inferior to 12 weeks of sofosbuvir plus daclatasvir, a current standard of care for GT3 chronic HCV-infected patients. SVR12 rates of 95% were seen in both 8 weeks and 12 weeks of treatment with G/P. Additionally, 12 weeks of treatment with G/P was demonstrated to be non-inferior to 12 weeks of treatment with SOF+DCV. In the ENDURANCE-3 study, no patients who received 8 weeks of G/P discontinued treatment due to adverse events. Authorization applications for G/P are currently under review by regulatory authorities around the world. G/P has been granted accelerated assessment by the European Medicines Agency, and priority review designations by the FDA and Japanese Ministry of Health, Labour and Welfare. G/P is an investigational regimen and its safety and efficacy have not been established.

06:20 EDT Marsh says FCA conducted on-site inspection at Marsh Limited's office in London - In a regulatory filing, Marsh & McLennan said that in connection with a civil competition investigation that the Financial Conduct Authority is undertaking into the aviation insurance and reinsurance sector, the FCA recently conducted an on-site inspection at Marsh Limited's office in London. The FCA indicated that it had reasonable grounds for suspecting that Marsh Limited and others have been sharing competitively sensitive information within the aviation (re)insurance sector. Marsh is cooperating fully with the FCA's ongoing investigation and is conducting its own review with the assistance of outside counsel.

06:07 EDT Stanley Black & Decker backs FY17 free cash flow conversion estimate of 100% - The following reflects the key assumption changes to the company's prior EPS outlook: Slightly higher overall company organic growth for the year primarily attributable to an improved outlook for the company's industrial-related businesses; Incremental cost and productivity actions; Higher environmental charges attributable to the aforementioned first quarter 2017 charge, included in "Other, net"; In addition, the company's 2017 EPS GAAP outlook reflects the above items as well as the impact of the finalization of the gain on divestitures; There is no change to the company's ~$50 million estimate of annual non-M&A related restructuring charges which included the impact of the planned 1Q'17 ~$12 million pension plan curtailment expense. Donald Allan Jr., Executive Vice President and CFO, commented, "Maintaining our focus on operational excellence, including integrating the Newell Tools business and building the Craftsman brand, while continuing to make balanced investments to support organic growth, position us to deliver on our updated 2017 financial outlook. We also remain committed to a strong investment-grade credit rating and expect that our capital allocation plans during 2017, combined with the incremental EBITDA from Newell and Craftsman, will bring our credit metrics back in line by early 2018.

05:44 EDT AbbVie says 8 weeks of treatment with P/G achieved high SVR 12 rates - AbbVie announced high SVR12 rates were achieved with 8 weeks of treatment with its investigational, once-daily, ribavirin-free, pan-genotypic regimen of glecaprevir/pibrentasvir, or G/P, in patients with challenging to treat genotype 3, or GT3, chronic hepatitis C virus, or HCV, infection. In results from the Phase 3 ENDURANCE-3 study, 95% of GT3 chronic HCV infected patients without cirrhosis and who are new to treatment achieved sustained virologic response at 12 weeks post-treatment, or SVR12, following 8 weeks of treatment with G/P. These new data will be featured as an oral presentation today at The International Liver Congress 2017 in Amsterdam, The Netherlands. As well as evaluating 8 weeks of treatment with G/P, the ENDURANCE-3 study was designed to evaluate whether 12 weeks of G/P is non-inferior to 12 weeks of sofosbuvir plus daclatasvir, or SOF+DCV, a current standard of care for GT3 chronic HCV infected patients. SVR12 rates of 95% were seen in both 8 weeks and 12 weeks of treatment with G/P.1 Additionally, 12 weeks of treatment with G/P was demonstrated to be non-inferior to 12 weeks of treatment with SOF+DCV.