Stockwinners Market Radar for April 24, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:38 EDT NGL Energy Partners sees FY18 adjusted EBITDA $500M-$525M - For FY18, NGL expects to generate Adjusted EBITDA of $500M-$525M, which includes Adjusted EBITDA for Grand Mesa Pipeline for 12 months of operations at approximately $130M; continued improvement in the water segment; an anticipated increase in crude production and refined products demand; and the benefit of a full 12 months of operations for several of our recent projects and acquisitions, including the Houma and Port of Point Comfort projects and the Port Hudson and Kingfisher terminal assets which were acquired from Murphy Energy in January 2017. NGL's guidance also takes into consideration management's lowered expectations for propane volumes, continued challenges in crude marketing and transportation together with the impact of lower line space values carrying into fiscal year 2018. Distributable Cash Flow is expected to be $300M-$325M and could generate over $100M of excess cash flow, which would provide at least 1.3x coverage for the year based on the deferral of the distribution increase.

18:10 EDT AmeriGas raises dividend 1c to 95c - Directors of AmeriGas Propane general partner of AmeriGas Partners, have declared a quarterly partnership distribution of 95c per limited partnership unit, payable May 18 to unitholders of record May 10. The annualized distribution will increase to $3.80 per limited partnership unit from the current $3.76 per unit.

18:03 EDT National Commerce, Patriot bank sign merger agreement - National Commerce, the parent company of National Bank of Commerce, and Patriot Bank jointly announced the signing of a definitive agreement providing for the merger of Patriot Bank with and into NBC. The transaction is expected to result in a combined institution with approximately $2.6B in assets. Under the terms of the definitive merger agreement, each share of Patriot Bank common stock issued and outstanding immediately prior to the effective time of the merger will be converted into the right to receive 0.1711 shares of NCC common stock and 72.5c in cash, without interest. Outstanding options to purchase Patriot Bank common stock will be canceled at the effective time of the merger, with holders of options that are "in the money" to receive a cash payment as consideration. The boards of directors of NCC, NBC, and Patriot Bank have approved the transaction. The transaction is subject to customary closing conditions, including receipt of regulatory approvals and approval by Patriot Bank's shareholders.

17:46 EDT KMG Chemicals to acquire Flowchem for $495M in cash

17:43 EDT Northwest Natural Gas appoints Frank Burkhartsmeyeras CFO - NW Natural has hired Frank Burkhartsmeyer to serve as the company's new CFO effective May 17. Burkhartsmeyer comes to NW Natural from Avangrid Renewables where he served as president and CEO. Prior, he was senior vice president of Finance at Iberdrola Renewables US. He also held various director-level positions at PPM Energ, ScottishPower and PacificCorp.

17:39 EDT German American Bancorp raises quarterly dividend to 13c per share - The company announced an increase in the level of its regular quarterly cash dividend, reflective of the three-for-two stock split distributed on April 21. Its Board of Directors declared a regular quarterly cash dividend of 13c per share, which will be payable on May 20 to shareholders of record as of May 10. This level of regular quarterly cash dividend represents approximately an 8% increase, on a stock split adjusted basis, above the company's quarterly cash dividend level paid in the prior year.

17:33 EDT Medidata announces expanded partnership with WuXi - Medidata announced an expanded partnership with WuXi Clinical Development Services, a wholly-owned subsidiary of WuXi AppTec. "WuXi CDS is standardizing on the Medidata Clinical Cloud to enhance its capabilities in early-phase and bioequivalence studies... In increasing its adoption of Medidata Rave, the industry's leading cloud-based technology for electronic data capture, management and reporting, WuXi will provide more flexible, customized strategic solutions," the company noted.

17:30 EDT Akorn trading resumes

17:14 EDT Barrick Gold cuts FY17 gold production view to 5.3M-5.6M oz from 5.6M-5.9M - A significant portion of this reduction is attributable to the anticipated sale of 50% of Veladero, which is expected to close at the end of the second quarter, the company said. Backs FY17 cost of sales attributable to gold view $780-$820 per ounce. Backs FY17 copper production view 400M-450M pounds. Backs FY17 CapEx view $1.3B-$1.5B.

17:10 EDT Range Resources backs FY17 production growth 33%-35%

17:10 EDT Range Resources sees Q2 production 1.93 BCFE per day - Sees Q2 direct operating expense $0.17-$0.18 per MCFE.

17:09 EDT Whirlpool Q1 revenue grew 4% with margin expansion in NA, Latin America

17:08 EDT BioTelemetry issues prospectus for public tender offer to acquire LifeWatch - BioTelemetry and LifeWatch announced that BioTelemetry published the prospectus for the public tender offer for all publicly held registered shares of LifeWatch AG. Shareholders of LifeWatch will receive either CHF10.00 in cash and 0.1457 shares of BioTelemetry stock or CHF8.00 in cash and 0.2185 shares of BioTelemetry stock, depending on individual shareholder preference. Based on the April 7 share price, the total deal value was approximately CHF260M. The Board of Directors of LifeWatch supports the public tender offer by BioTelemetry and recommends that shareholders accept it. According to the timetable, the main offer period starts on May 10, 2017 and is expected to end on May 23, 2017, subject to any extension of the offer period.

17:05 EDT Tyson Foods explores sale of three non-protein businesses - As part of its strategic focus on protein-packed brands, Tyson Foods is exploring the sale of three non-protein businesses, the company reported. In February, Tyson Foods announced its strategy to sustainably feed the world with the fastest growing portfolio of protein packed brands. As the company focuses on its growth and value creation, it is exploring the sale of its Sara Lee Frozen Bakery business, the Kettle business and Van's.

17:01 EDT Ameriprise announces additional $2.5B share repurchase plan

17:01 EDT Akorn backs FY17 adjusted EPS view $1.53-$1.72, consensus $1.63 - Backs FY17 revenue view $1.01B-$1.06B, consensus $1.03B. Akorn (AKRX) announced today that based on a preliminary review of Q1 results, it is reaffirming its previously announced 2017 guidance, excluding any one-time costs related to the transaction with Fresenius Kabi (FSNUY).

16:59 EDT Fresenius to acquire Akorn for $34 per share - Fresenius Kabi (FSNUY) has agreed to acquire Akorn (AKRX) for approximately $4.3B, or $34.00 a share, plus the assumption of approximately $450M of debt. The transaction is expected to close by early 2018 and to be accretive in 2018 to Fresenius Group net income and EPS, excluding integration costs. The agreement and transaction have been approved by the boards of both companies and will be recommended by Akorn's board to its shareholders. Akorn's largest shareholder has committed to supporting the transaction. The transaction is subject to approval by Akorn shareholders and other customary closing conditions, including regulatory review under the Hart-Scott-Rodino Antitrust Improvements Act.

16:56 EDT Wells Fargo: 'Pleased' with Fed, FDIC findings, committed to 'sound resolution' - Wells Fargo issued the following statement regarding the board of governors of the Federal Reserve System and the Federal Deposit Insurance Corporation's most recent joint response to the company's revised submission to its 2015 resolution plan under the "living will" process of the Dodd-Frank Wall Street Reform and Consumer Protection Act: "Earlier today, the Federal Reserve and the FDIC announced that Wells Fargo's Revised Submission adequately remedied the remaining deficiencies. We are pleased with the agencies' findings and remain committed to sound resolution planning and preparedness as we finalize our July 2017 submission."

16:46 EDT Express Scripts down 12% after contract with Anthem unlikely to be renewed - In after hours trading, shares are down 12% to $59.35.

16:44 EDT Federal Reserve, FDIC approve revised Wells Fargo living will - The Federal Deposit Insurance Corporation and the Federal Reserve Board announced that Wells Fargo had "adequately remediated" the deficiencies in its 2015 resolution plan. As a result, the firm will no longer be subject to growth restrictions imposed last year. Resolution plans, required by the Dodd-Frank Act and commonly known as living wills, must describe the company's strategy for rapid and orderly resolution under bankruptcy in the event of material financial distress or failure. In December 2016, the agencies determined that Wells Fargo had not remedied two of the three deficiencies identified previously. Wells Fargo submitted a revised plan in March. Wells Fargo is next required to file a new resolution plan by July 1, addressing vulnerabilities to orderly resolution as noted in guidance issued by the agencies last year. The determination made Monday by the agencies pertains solely to Wells Fargo's 2015 resolution plan and not to any future resolution plan. Reference Link

16:41 EDT Summit Financial Group announces resolution of litigation - Summit Financial Group announcesit reached settlement with the Residential Funding Company and ResCap Liquidating Trust, to resolve fully all litigation between Summit and ResCap. This litigation, pending since May 2014 and among more than 70 other similar cases ResCap has filed nationally against other lenders, related to certain residential mortgage loans originated by a former subsidiary of Summit and sold to RFC between 2003 and 2007. Under the terms of the settlement, Summit agreed to pay ResCap $9.9 million which will be recorded as a charge against our first quarter 2017 earnings and result in an after-tax reduction in net income of $6.2M, or 58c per diluted share. "After extensive consideration of the relevant issues, including the uncertainties inherent in complex litigation and its enormous defense costs, we believe it is in our best interests to enter into this settlement which eliminates the possibility of any additional exposure and puts this issue behind us thus enabling us to focus more resources on enhancing long-term shareholder value," commented H. Charles Maddy, III, President and Chief Executive Officer of Summit.

16:39 EDT Novartis expands pact with Amgen to commercialize AMG 334 for migraine - Novartis (NVS) announced an expanded commercialization agreement with Amgen for AMG 334, which is being investigated for the prevention of migraine.This agreement builds on a 2015 global collaboration between Novartis and Amgen, and leverages almost 70 years of Novartis experience in neuroscience to more effectively reach people with migraine. Novartis and Amgen will co-commercialize AMG 334in the US. Novartis will retain exclusive rights to commercialize the drug in rest of world and will gain commercialization rights in Canada. Amgen retains exclusive commercialization rights in Japan. The companies will continue global co-development. AMG 334 is a fully human monoclonal antibody specifically designed for the prevention of migraine. It targets and blocks the Calcitonin Gene-Related Peptide receptor, believed to play a critical role in mediating the incapacitating pain of migraine.[1] Positive results from a Phase II study and two Phase III studies of AMG 334 in migraine prevention were announced in 2016. In these studies, once-monthly subcutaneous AMG 334 significantly reduced monthly migraine days versus placebo and demonstrated a safety profile comparable to placebo. Detailed results from the Phase III studies are being presented at the annual meeting of the American Academy of Neurology and submitted for publication. These data will help support discussions with regulatory agencies, with filing anticipated in the second quarter of 2017. "Migraine is a debilitating neurological disease associated with significant personal, economic, and societal burden. There is an urgent need for effective and well-tolerated preventive treatments that positively impact the lives of people with migraine," said Paul Hudson, Chief Executive Officer, Novartis Pharmaceuticals. "We are excited to expand our collaboration with Amgen. We look forward to combining capabilities and leveraging our strong heritage in neuroscience in the US and Canada to bring erenumab to more patients in need, as fast as we can." Under the terms of the agreement, Amgen will receive milestone payments from Novartis, expected to begin in 2017. Novartis will share US commercialization costs with Amgen. Amgen will book sales of AMG 334 in the US, and will pay a royalty to Novartis on net sales in the US. Novartis will book sales in rest of the world, excluding Japan, and will pay Amgen royalties on the net sales in those countries. Amgen will book sales in Japan, since it will remain an exclusive territory for the company. Novartis will assume agreed upon remaining global development costs up to a cap and share global development costs thereafter. The agreement is an expansion of a global collaboration with Amgen announced in August 2015 in neuroscience, involving joint development and commercialization of pioneering treatments in the field of Alzheimer's disease and migraine.

16:33 EDT Corindus announces strategic partnership with BLOXR - Corindus Vascular Robotics announced a strategic partnership with BLOXR Solutions, a provider of radiation protection products designed to reduce exposure for clinicians and patients. The three-year distribution agreement grants Corindus the non-exclusive rights to distribute BLOXR's radiation protection products globally and provides BLOXR with additional reach into the interventional cardiology space. Under the agreement, Corindus may sell the entire BLOXR line, which offers multiple types of protective equipment including aprons, thyroid collars and caps.

16:30 EDT T Mobile trading resumes

16:26 EDT Express Scripts targets 2017-'20 annual EBITDA growth rate of 2%-4% for core PBM - Based on management's assumptions regarding healthcare trends, inflation, patent expirations, industry utilization growth and the overall environment for healthcare services, the Company is targeting a compounded annual EBITDA growth rate from 2017 through 2020 in the range of 2% to 4% for the core PBM, which excludes any contribution from Anthem and the Transitioning Clients. The Company expects to continue to generate significant cash flow from operations. Furthermore, the Company is committed to maintaining a 2.0x debt-to-EBITDA ratio and strong investment grade ratings. Similar to past periods, the Company's leverage ratio could move higher or lower on a short-term basis depending on the Company's needs to fund strategic initiatives. Aside from gradually paying down debt over the next two and a half years to achieve our leverage targets, the Company's priorities for deploying capital remain the same: to fund internal growth, make strategic acquisitions and return cash to its shareholders.

16:24 EDT Summit Financial Group trading halted, news pending

16:21 EDT Conagra Brands completes acquisition of Thanasi Foods for undisclosed amount - Conagra Brands announced that it has completed the acquisition of protein-based snacking businesses Thanasi Foods, maker of Duke's meat snacks, and BIGS maker of BIGS seeds.The definitive agreement to acquire Thanasi was announced on March 16. Financial terms were not disclosed.

16:20 EDT Navios Maritime Partners announces acquisition of one Capesize vessel - Navios Maritime Partners an international owner and operator of drybulk and container vessels, announced today that it has agreed to acquire one 2010-built Capesize vessel of 178,132 dwt for a purchase price of $27.5M. The vessel is expected to be delivered to Navios Partners' owned fleet during the third quarter of 2017. The vessel is expected to generate approximately $3.7 million of annual EBITDA based on current rate environment , assuming operating expenses approximating current operating costs and 360 revenue days. Navios Partners is expected to finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.

16:19 EDT U.S. Gas & Electric to consolidate with Equus - MVC Capital (MVC) announced today that Equus Total Return (EQS) ("Equus"), a publicly-traded business development company that previously announced its intention to become an operating company, has entered into a definitive agreement to acquire MVC's largest portfolio holding, U.S. Gas & Electric a commercial and residential energy services company. The acquisition of USG&E by Equus represents the final step of Equus's plan of reorganization within the meaning of Section 2(a)(33) of the Investment Company Act of 1940, as adopted by Equus on May 13, 2014. The Consolidation will be effected in two stages. The first stage consists of Equus's acquisition of more than 90% of USG&E's common and convertible preferred stock from MVC and certain other USG&E stockholders in exchange for shares of Equus. In the second stage, a wholly-owned subsidiary of Equus will be merged with and into USG&E, with USG&E as the surviving corporation and wholly-owned by Equus, which will change its name to USG&E.The transaction has been approved by the Boards of Directors of USG&E, MVC and Equus, and will not be subject to further shareholder approvals. In connection with the transaction, Equus has obtained the necessary consent of a majority of its stockholders, including MVC, which currently holds 33% of Equus's common stock. "The transaction is a significant milestone in our investment in USG&E and allows the opportunity for it to grow in value and for MVC to potentially benefit from receiving consistent dividend payments," said Michael Tokarz, Chairman and Portfolio Manager of MVC. "It also will provide greater visibility and transparency into the operations and performance of MVC's largest asset. Lastly, it demonstrates our commitment to the reorganization of Equus and provides Equus stockholders with an attractive opportunity to participate in the potential upside and growth of USG&E." "We are pleased with the transaction and the prospects for USG&E to operate as a publicly-traded company with access to the capital markets, providing opportunities for growth and strategic acquisitions," said John Hardy, CEO of Equus. "We believe the transaction structure will deliver value to all key stakeholders, who will benefit from a stronger and more financially flexible partner. We look forward to continuing to work closely with the USG&E management team to realize long-term growth and strong financial results."

16:17 EDT Ophthotech says CEO to transition to executive chair role, CFO to become CEO - Ophthotech announced that David Guyer, a co-founder, Chief Executive Officer and Chairman of the Board, will transition to Executive Chairman effective July 1. Concurrent with this transition, Ophthotech's Board appointed Glenn Sblendorio, the Company's President and Chief Financial Officer, as Chief Executive Officer, also effective July 1. Sblendorio will retain his role as President. The Company also announced the promotion of David Carroll to Chief Financial Officer and Treasurer, effective immediately. Carroll was previously Senior Vice President, Finance, of the Company. "As the Company continues to review strategic alternatives and actively explores potentially obtaining rights to additional products, product candidates and technologies to treat ophthalmic diseases, particularly those of the back of the eye, David Guyer's extensive expertise and experience brings a wealth of ophthalmology knowledge that is critical as we execute a strategy to maximize shareholder value," said the company.

16:15 EDT Express Scripts: Unlikely its contract with Anthem will be extended - The Company's current long-term PBM contract with Anthem (ANTM) expires on December 31, 2019, and Anthem is currently engaged in a Request for Proposal process for a PBM service provider following the end of its contract with Express Scripts. While the Company has not formally participated in the RFP process, in recent months, management for the Company and Anthem have had several conversations in which the Company proposed providing as much as $1 billion in annual value ($3 billion in the aggregate) in the form of price concessions for 2017-2019 in connection with a negotiated contract extension for the period beyond 2019 at prevailing market rates. Although conversations have been ongoing, the Company was recently told by Anthem management that Anthem intends to move its business when the Company's current contract with Anthem expires on December 31, 2019, and that Anthem is not interested in continuing discussions regarding pricing concessions for 2017-2019 or in receiving the Company's proposed pricing for the period beyond 2019. As a result, today Express Scripts (ESRX) has elected to provide information as to its financial performance with and without Anthem, without any obligation to do so, in order to demonstrate that the Company's core PBM business, excluding Anthem, is well positioned for future growth. See Appendix A for additional details regarding the Company's relationship with Anthem and the history of the agreement between the parties. "It is difficult for us to understand why Anthem has not recognized the potential value which could be brought forth by engaging in meaningful discussions regarding a mutually beneficial pricing arrangement for the remaining term of our contract and beyond," said Tim Wentworth, President and CEO of Express Scripts. "No other party can offer Anthem savings prior to 2020, and no other party can provide updated pricing terms beyond 2019 without the risk and disruption of a lengthy and complicated implementation. As our disclosure today clearly demonstrates, Express Scripts makes well below $3 billion annually on the Anthem contract despite Anthem's numerous public pronouncements to the contrary. Anthem's conflicting demands for annual PBM savings, ranging from $700 million in September 2015 to $3 billion in January 2016, its subsequent litigation against us, and now its decision to discontinue discussions altogether do not make any sense to us. We just can't explain why Anthem would choose to walk away from an opportunity to realize $1 billion in annual savings, which we have no obligation to provide under our current contract, in exchange for a contract extension at prevailing market rates with a longstanding business partner who has proven its ability to deliver value for their members," Wentworth said. While Anthem has not provided formal written notice that it does not intend to renew its contract with the Company, based on recent statements in conversations with Anthem management and other actions taken by Anthem, the Company believes it is unlikely its contract with Anthem will be extended. As a result, the Company has elected to report Anthem's estimated 2015 and 2016 full year and 2017 first quarter contribution to financial results in order to provide visibility into the underlying performance of the Company's PBM business excluding any contribution from Anthem. The tables below provide the portion of our estimated 2015 and 2016 full year and 2017 first quarter financial results attributable to Anthem. In addition to disclosing the estimated impact of the Anthem contribution, the tables below include the estimated contribution of the Company's remaining business with Coventry and Catamaran, both of which were acquired and are rolling off the Company's book of business. The Company is providing this information to assist in an analysis of the underlying performance of the Company's core PBM business, excluding the contributions from Coventry and Catamaran, to which we refer together as the "Transitioning Clients," as well as Anthem. "Express Scripts is committed to fulfilling our obligations to serve patients and Anthem members through the remaining term of the contract and the required one-year transition period, in accordance with our agreement, as well as the successful implementation of any new business added by Anthem over the next 32 months," Wentworth added.

16:14 EDT Raytheon opens new warehouse at Dine facility - Raytheon formally opened a new $5M, 30,000 square foot warehouse at its Dine facility on the Navajo Nation. Workers will use the new warehouse to build and store parts for the world's largest missile manufacturer. The expansion provides dozens of new jobs on the Navajo Nation.

16:13 EDT uniQure to present data on hemophilia B and Huntington's disease - uniQure N.V. announced that five abstracts have been accepted for presentation at the American Society of Gene and Cell Therapy 20th Annual Meeting held in Washington, D.C., May 10-13, 2017. Together with their collaborators, members of uniQure's research and development team will present data focused on progress in re-administration protocols, gene therapy delivery systems and optimized vector distribution technologies in two of uniQure's key programs, hemophilia B and Huntington's disease. An investor and analyst breakfast meeting featuring senior members of uniQure's research and development team will be held on Friday, May 12 at 7 a.m. "The data to be presented at the ASGCT meeting demonstrate the development and validation of uniQure's technologies to improve gene therapy as a therapeutic approach, and supports our aim to rapidly bring new disease-modifying therapies to patients with severe genetic diseases," stated Matthew Kapusta, chief executive officer of uniQure. Harald Petry, Ph.D., chief scientific officer at uniQure, added, "We are making strong progress in advancing the preclinical development of AMT-130 in Huntington's disease, and further enhancing AAV vector technology and the potential for re-administration protocols, which continue to provide compelling evidence of our modular platform."

16:09 EDT Jazz Pharmaceuticals reports 'positive' results from Phase 2/3 study of Xyrem - Jazz Pharmaceuticals announced positive top-line efficacy results from the global, double-blind, placebo-controlled, randomized-withdrawal, multicenter Phase 2/3 study evaluating Xyrem oral solution, CIII, in the treatment of cataplexy in pediatric patients with narcolepsy. Xyrem demonstrated statistically significant differences in the primary and key secondary efficacy endpoints that measured the change in the weekly number of cataplexy attacks, the Clinical Global Impression of Change scale for the severity of cataplexy, and the Epworth Sleepiness Scale for children and adolescents score compared to placebo. The preliminary safety results were consistent with the results previously observed in Xyrem studies in adults and our Xyrem post-marketing experience. "More than half of all narcolepsy patients report that their symptoms began as teenagers or in childhood. Although narcolepsy in children is characterized by the same symptoms as adults, pediatric narcolepsy is frequently under-recognized and under-diagnosed," said Karen Smith, M.D., Ph.D., global head of research and development and chief medical officer of Jazz Pharmaceuticals. "We look forward to presenting the results from this large pivotal Xyrem pediatric study in narcolepsy at the APSS meeting in June. We expect to submit a supplemental NDA to the FDA in support of the use of Xyrem in pediatric patients in the fourth quarter of 2017, subject to completion of the full data analysis."

16:08 EDT Swift Transportation 'cautiously optimistic' on 2H

16:06 EDT Swift Transportation says average operational truck count down 812 trucks

16:04 EDT Agree Realty sees FY17 acquisition volume $200M-$225M - The Company's outlook for acquisition volume in 2017, which assumes continued growth in economic activity, moderate interest rate growth, positive business trends and other significant assumptions, remains $200M-$225M of high-quality retail net lease properties. The Company's disposition guidance for 2017 remains $20M-$50M.

16:03 EDT Agree Realty reports Q1 EPS 56c, consensus 39c - Reports Q1 revenue $26.56M, consensus $26.09M.

16:00 EDT Express Scripts trading halted, news pending

15:37 EDT Originate Growth Fund reports 16.4% passive stake in Tabula Rasa HealthCare

15:19 EDT Reed Hastings says Netflix reaches 100M members - Netflix CEO Reed Hastings said in a social media post Friday: "Celebrating 100m members the same way I did 1m: a steak alone at Denny's. #superstitious." Reference Link

15:11 EDT Mercedes-Benz car sharing program expands out of pilot phase - Daimler's Mercedes-Benz announced that its car-sharing pilot is expanding: "Four months after the launch of a successful pilot phase in Munich, Mercedes-Benz's private car-sharing platform is now gradually being rolled out in other major German cities." Reference Link

15:02 EDT David Dao attorney says also representing American Airlines passenger - In a TODAY Show interview Monday, Thomas DeMetrio, the attorney representing United (UAL) passenger David Dao, confirmed he was contacted by and is now representing the American Airlines (AAL) passenger whose stroller-related dispute with a crew member went viral late Friday. DeMetrio commented, "This is a real, real problem and the mother told me, point blank, her concern was her child, who almost got hit by the stroller -- did not, but almost got hit by the stroller." Reference Link

14:15 EDT Ultra Clean rallies 4%, or 63c, to $16.74

14:07 EDT Arconic postpones annual meeting amid talks with Elliott - Arconic announced that it is postponing its 2017 annual meeting from May 16 to a date toward the end of May. The precise date, time and location of the meeting will be announced at a later time. The company said in a statement, "During the past two weeks, Arconic has been engaged in extensive discussions with Elliott Management Corporation in an effort to resolve the pending proxy contest. The Arconic Board believes that a settlement on reasonable terms could benefit all shareholders by putting an end to this distracting proxy fight, so that the Company can focus on ensuring a seamless leadership transition and on executing its strategic plan. However, these discussions have not produced a settlement, as Elliott has repeatedly demanded an ever-expanding litany of settlement terms. As part of its efforts to achieve a reasonable compromise to enable the Company to move forward, Arconic indicated in these settlement discussions that it is willing to select two of Elliott's director nominees to join the Board. If two Elliott nominees are appointed to the Board, there will be eight independent directors who have joined the Board within the past 15 months, with five of the eight nominated by Elliott. The Board has reviewed the qualifications of Elliott's nominees and, if these nominees confirm by Wednesday, April 26, 2017 that they are willing to be interviewed by Arconic and to be nominated by the Arconic Board, the Board will promptly appoint the two nominees that it believes will be most additive to the Board and will nominate them for election at the Annual Meeting. If the Elliott nominees do not provide such confirmation, the Board will consider other alternatives, including nominating new independent director candidates identified through Arconic's ongoing director recruiting process."

14:05 EDT Arconic willing to nominate Elliott direct nominees to board - Arconic announced its willingness to nominate two of Elliott's director nominees in an effort to resolve the proxy contest. The Arconic board believes that a settlement on reasonable terms could benefit all shareholders by putting an end to this distracting proxy fight, so that the company can focus on ensuring a seamless leadership transition and on executing its strategic plan. However, these discussions have not produced a settlement, as Elliott has repeatedly demanded an ever-expanding litany of settlement terms. The board has reviewed the qualifications of Elliott's nominees and, if these nominees confirm by Wednesday, April 26, 2017 that they are willing to be interviewed by Arconic and to be nominated by the Arconic Board, the Board will promptly appoint the two nominees that it believes will be most additive to the Board and will nominate them for election at the Annual Meeting. If the Elliott nominees do not provide such confirmation, the Board will consider other alternatives, including nominating new independent director candidates identified through Arconic's ongoing director recruiting process. Arconic will amend and supplement its proxy statement and WHITE proxy card to reflect its revised slate of director nominees and provide shareholders with additional information regarding the nominees and the Annual Meeting. In light of the resignation of Klaus Kleinfeld, his nomination for election at the Annual Meeting has been withdrawn, and any votes for him previously submitted on a WHITE proxy card will be disregarded. However, if any shareholders previously voted on a WHITE proxy card and do not submit a new proxy card when the new proxy card becomes available, their prior votes will be cast for the Board's other nominees - Amy E. Alving, David P. Hess, Ulrich Schmidt and Ratan N. Tata - subject to any prior instructions the shareholder provided.

13:44 EDT Wayfair drops as Amazon said to plan furniture-friendly policy - Wayfair (W) turned sharply lower Monday after a report that Amazon (AMZN) plans several changes designed to make it easier for furniture sellers to operate on its platform. AMAZON EYES IMPROVED FURNITURE DELIVERY: In an article titled "Amazon launching new furniture seller program," industry publication Furniture Today revealed that the company is pitching furniture stores on an upcoming change to its marketplace that eliminates national delivery requirements. Instead, Amazon hopes to launch a new policy in late Q3 that would furniture sellers to dictate custom, "geofenced" white-glove delivery options. According to the report, Amazon furniture executive Brett Hobson explained that, historically, the biggest objection the company received from furniture sellers was that they didn't have the capability, experience, or willingness to ship outside their locality. SHORT-SELLER SAYS REST IN PEACE WAYFAIR: Commenting on the above report, short-leaning research firm Citron, which has frequently been critical of Wayfair, tweeted that the planned change "TORPEDOES" Wayfair's "unprofitable business. Finally real furn delivery. RIP." PRICE ACTION: Shares of Wayfair are down 3.5% to $44.35.

13:29 EDT Sprouts drops 6% after FT says Albertsons exploring bid for Whole Foods

13:17 EDT Reed's trading resumes

12:56 EDT Reed's trading halted, news pending

12:36 EDT Google adds TV to 'DoubleClick' ad buying platform - Google announced in its DoubleClick blog: "As the lines blur between TV and digital video, it's important that marketers are able to reach their audiences across screens. That's why we're making traditional TV inventory available to buy in DoubleClick Bid Manager in the US. We are integrating with WideOrbit, clypd and Google Fiber to provide access to national, local and even addressable TV inventory in DoubleClick Bid Manager... In addition, to help brands and agencies understand the effectiveness of their TV campaigns, we will be providing impact-based metrics in DoubleClick. For example, an advertiser will be able to measure the lift when someone searches for their brand on Google or YouTube after seeing their TV ad. Programmatic technology has already automated some of the manual processes associated with buying digital video, and with these new integrations we'll be extending many of the same workflow improvements to traditional TV. With their inventory now available through DoubleClick Bid Manager, television networks and station owners get access to new types of buyers, such as advanced TV buying groups in agencies, digital-first advertisers, and even global advertisers. Many of these buyers already use DoubleClick, but until now, have had limited access to US TV audiences." Reference Link

12:26 EDT Biologics Inc says selected as specialty pharmacy provider for Tesaro's Zejula - Biologics Inc, a McKesson (MCK) Specialty Health oncology pharmacy services company, announced it has been selected by Tesaro (TSRO) to be a specialty pharmacy provider in the distribution network for Zejula, the company's product for the maintenance treatment of adult patients with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in complete or partial response to platinum-based chemotherapy.

12:07 EDT Guolao Investments reports 7% passive stake in JinkoSolar

11:32 EDT NuStar Energy sees FY17 EBITDA $600M-$650M - NuStar management says the company plans to provide further guidance after the closing of the Navigator acquisition. Management expects the acquisition to have a disproportionate impact to Q2. Guidance provided during Q1 earnings conference call.

11:14 EDT After surveying spine doctors, analyst says sell Globus Medical - This morning, Barclays analyst Matthew Taylor downgraded Globus Medical (GMED) to Underweight, a sell-equivalent rating, following a survey of spine surgeons. Alongside recent trends that make him cautious on the name, the analyst says the results were negative for the company as they suggest share losses. Additionally, he cut Mazor Robotics' (MZOR) rating to Equal Weight on valuation. SHARE LOSSES SEEN FOR GLOBUS: In a research note this morning, Barclays' Taylor downgraded Globus Medical to Underweight from Equal Weight after his survey of 51 U.S. spine surgeons indicated share losses for the company. Alongside recent trends that make him cautious on the name, Taylor also noted that Wall Street consensus figures appear too high and he sees continued risks to growth. Nonetheless, the analyst raised his price target on the shares to $28 from $24 given a better market multiple and signs of hiring progress. Additionally, he pointed out that the results of his survey were also negative for Stryker (SYK) and Johnson & Johnson (JNJ). MOVING TO THE SIDELINES ON MAZOR: Following his survey, Barclays' Taylor also downgraded Mazor Robotics to Equal Weight from Overweight. While the analyst told investors that he sees the survey's results as neutral to positive for Mazor, with a number of surgeons considering a robot in the next few years, he is moving to the sidelines given the stock's recent run-up. Taylor also raised his price target on Mazor's shares to $32 from $31. SURVEY POSITIVE FOR PEERS: Conversely, Taylor argued that his survey of spine surgeons was most positive for other spine/medtech companies, namely NuVasive (NUVA), K2M Group (KTWO) and Medtronic (MDT), and neutral to positive for Zimmer Biomet (ZBH). The analyst noted that he believes NuVasive stands out as having the most consistently positive feedback in the survey and remains bullish on the shares, which should be driven by better growth than consensus, helped by conservative guidance and new product flow. For K2M Group, Taylor said respondents expect it to gain the most share in complex spine. The analyst reiterated an Overweight rating on K2M Group's shares as he views the valuation as discounted, and expects its U.S. momentum and improvement internationally to "allow it to beat." PRICE ACTION: In morning trading, shares of Globus Medical are fractionally down to $30.85, while Mazor Robotics' stock has dropped about 5% to $33.88 per share.

11:01 EDT Bank of Commerce Holdings to relocate headquarters to Sacramento from Redding - Randall S. Eslick, President and CEO of Bank of Commerce Holdings announced that the company's Board of Directors has authorized the relocation of the company's corporate headquarters from Redding, California to Sacramento, California. In that regard, the company has entered into an 89-month lease for office space in downtown Sacramento at 555 Capitol Mall. The relocation will be effective when the company takes occupancy of the new premises, which is expected to occur by August 1.

10:44 EDT Analyst upgrades steel stocks on signs of rebounding demand - Macquarie upgraded several U.S. steel producers, saying that demand for steel should improve, while the recent downturn in the stocks has created a buying opportunity. The firm upgraded AK Steel (AKS) and Steel Dynamics (STLD) to Outperform from Neutral, and it raised its rating on Nucor (NUE) and U.S. Steel (X) to Neutral from Underperform. DEMAND: Based on earnings reports from industrial companies, there is evidence that demand for steel is rebounding, while the increase is "sustainable," according to Macquarie analyst Aldo Mazzaferro. AK STEEL: The company's first quarter revenue should increase 2.7% versus Q4 results, predicted the analyst, who increased his operating profit per ton forecast for the company by 9%. AK Steel should also benefit from its high leverage and 60% exposure to the North American auto market which is "leveling off at high levels," according to Mazzaferro. He raised his 2017 EPS estimate for the company by 70% and increased his price target on the name to $8.10. STEEL DYNAMICS: The company noted that demand in several of its end markets had improved in Q1, as its "overall steel utilization rate" rose to 95% from 81% during the previous quarter, the analyst stated. Compared with Nucor, Steel Dynamics is "growing faster, more profitable, and less expensive," according to Mazzaferro. He increased his 2017 EPS estimate for Steel Dynamics to $3.60 from $3 and set a $4 price target on the shares. NUCOR: Boosted by stronger demand, the company's steel mill operating rates reached 89% last quarter, up from 74% in the previous quarter, according to the analyst. The company should also benefit from an increase of over $200 per ton in tubing prices this quarter, Mazzaferro. wrote. He raised his price target on the shares to $62 from $55, saying that the stock "remains relatively expensive versus other steel mills." U.S. STEEL: The company "has good exposure" to the energy and industrial sectors, where demand is improving, the analyst stated. Moreover, the company's European operations should benefit from a weak currency and the economic recovery there, according to Mazzaferro. He raised his 2017 EPS estimate for the company to $2.70 from $1.65 and increased his price target on the name to $30 from $23. PRICE ACTION: In early trading, AK Steel rose 2%, Nucor gained 1%, Steel Dynamics climbed 2.5% and U.S. Steel rose 1.8%.

10:35 EDT Kimberly-Clark says 'don't play too much on speculation process' for M&A - Regarding the current deal environment, says there "aren't that many tuck-ins" internationally.

10:11 EDT Kimberly-Clark sees 'better' performance in North America going forward - Says on track with capital plan. Says FY dividends and share repurchases should total between $2.2B-$2.4B. Expects better performance in North America going forward, with easier comparisons in the back half of the year. Says overall category trends were "a little better" in the last part of Q1 and the company is "cautiously optimistic" market growth will get back to more normal levels over time. Says commodities a $35M drag in Q1. Sees mid-to-high single digit drag on 2017 earnings from net impact of changes in currencies, commodities and selling prices. Says believes pricing in China won't be as negative in 2017 as in 2016. Sees currency imapct "neutral" overall in 2017, 2 points better than its January outlook. Comments taken from the Q1 earnings conference call. Kimberly-Clark is down about 0.6% to $129.23 in morning trading.

10:02 EDT BAE Systems unveils 3DAWS product suite - BAE Systems unveiled its 3-Dimensional Advanced Warning System product suite designed to significantly increase aircraft survivability from advanced threats. Developed to address the ever-changing and proliferating threat environment, the 3DAWS suite protects aircraft during complex, multi-threat engagement scenarios through a layered countermeasure defense, allowing aircrews to safely complete their missions. It not only maximizes the effectiveness of current flare and directable infrared countermeasure systems, but it also provides the necessary tracking capabilities for future soft- and hard-kill countermeasure solutions to damage or destroy incoming threats.

09:58 EDT GE Power announces collaboration with Sonelgaz - GE said it will collaborate with Sonelgaz SPE, a subsidiary of Sonelgaz, in a landmark deal that highlights its Fleet360 total plant solutions capabilities. The largest services deal in GE Power's history, the agreement will lead the digital industrial transformation of Sonelgaz's plants throughout Algeria and strengthen local capabilities. The landmark deal includes long-term operations and maintenance services for 10 Sonelgaz plants throughout the country that generate 11 GW of power, technology upgrades that will enhance energy efficiency to deliver more than 420 MW of additional power, and the introduction of GE's digital solutions.

09:42 EDT Halliburton says seeing pricing improvements in all U.S. basins

09:27 EDT LinkedIn says now has 500M members in 200 countries - LinkedIn says in a statement, "We recently crossed an important and exciting milestone. We now have half a billion members in 200 countries connecting, and engaging with one another in professional conversations and finding opportunities through these connections on LinkedIn. This community represents 10+ million active jobs, access to 9+ million companies, and with more than 100,000 articles posted every week, it's helping you stay informed on the news and views impacting your professional world. A professional community of this size has never existed until now."

09:26 EDT FirstEnergy announces Beaver Valley station shut down for maintenance - FirstEnergy Nuclear Operating, a subsidiary of FirstEnergy, announced its Beaver Valley Power Station Unit 2 in Shippingport, Pa., shut down at 12:01 a.m. on Saturday, April 22, for scheduled refueling and maintenance. While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous safety inspections will be conducted, including inspections of the unit's reactor vessel head, turbine and electrical generator. In addition, preventive maintenance to ensure continued safe and reliable operations will be performed on major components including the plant's three steam generators, which convert super-heated water from the reactor to steam which turns the plant's turbine to create electricity, as well as various pumps, motors, valves and the cooling tower.

09:24 EDT Eros Now enters strategic integration deal with Ola Play - Eros Now, an over-the-top Indian entertainment platforms owned by Eros International, announced a strategic integration deal with India's leading mobile app for transportation, Ola's connected in-car entertainment platform for ridesharing, Ola Play. This strategic revenue-sharing partnership will enable an immersive and personalized experience which customers can seamlessly control through their smartphones as well as a device mounted at the back of the seat.

09:22 EDT Kandi Technologies announces receipt of third 2016 subsidy payment for EV sales - Kandi Technologies Group announced that the electric vehicles manufactured by Kandi Electric Vehicles Group Co,, a 50/50 joint venture between Kandi and Zhejiang Geely Holding Group, in 2015 have received total subsidy payments of RMB 603.5M, or approximately $87.6M, from the Chinese government for 2015, of which a prepayment of RMB 364.5M, or approximately $52.9M, was received on August 10, 2015, and RMB 239M, or approximately $34.7M, was received on April 21, 2017.

09:19 EDT Halliburton sees Q2 North American sales growth higher than U.S. land rigs

09:16 EDT Hasbro says has 'right brands, right team' to drive blueprint - Regarding any potential M&A, says very focused on building brands, but still "open" to looking at new capabilities. Says "shifting into next gear" as a company. Says believes company has "right brands, right team" to drive blueprint.

09:11 EDT Halliburton says seeing customers deferring new projects - Says customers more focused on lowering costs.

09:09 EDT Halliburton says not chasing market share at cost of pricing - Says seeing sufficient demand for equipment, but will not respond to demand unit it makes economic sense. Comments from company's Q1 earnings conference call.

09:08 EDT Adamas: ADS-5012 data confirms reduction in levodopa-induced dyskinesia - Adamas Pharmaceuticals announced the presentation of two separate analyses of pooled data from the placebo-controlled Phase 3 clinical trials of ADS-5102 extended-release capsules in oral platform and poster presentation sessions at the 69th American Academy of Neurology Annual Meeting in Boston. The pooled data results, which are consistent with the original findings from EASE LID and EASE LID 3, demonstrated that people with Parkinson's disease treated with ADS-5102 had a significant reduction in levodopa-induced dyskinesia, as measured by the Unified Dyskinesia Ratings Scale, and showed statistically significant reduction in OFF time, as reported by Parkinson's disease home diary data. The UDysRS data from EASE LID and EASE LID 3 were pooled in a pre-specified analysis. The UDysRS included both physician assessments and historical patient assessments. The pooled ADS-5102 UDysRS results showed a significant, rapid and durable reduction in LID versus placebo: At Week 12, the UDysRS total score was -17.7 in the ADS-5102 group versus -7.6 in the placebo group -- an improvement in the UDysRS total score of approximately 30 percent among those treated with ADS-5102 compared to placebo treated patients. For any change from baseline in UDysRS total score, a greater proportion of patients taking ADS-5102 showed a reduction compared to placebo. Treatment effects were comparable in both the objective and historical UDysRS scores, and reductions were significantly greater with ADS-5102 than with placebo.

09:06 EDT Harris awarded 5-year, $875M ceiling multi-award IDIQ contract by USAF - Harris has been awarded a five-year, $875M ceiling, multi-award IDIQ contract by the U.S. Air Force for cryptographic and information assurance products, including support throughout their lifecycles. The contract, which consists of a five-year base term with an additional five-year option, was awarded to seven companies during the third quarter of Harris' fiscal 2017. Orders may include a broad range of work for the different phases of the contract, such as material solutions analysis; technology development; technology maturation and risk reduction; preliminary design, engineering and manufacturing development; and production and sustainment.

09:05 EDT Black Box names David Russo as SVP, CFO, Treasurer - Black Box Corporation (BBOX) announced that David J. Russo has joined the company as its SVP, CFO and Treasurer. He was previously the SVP and CFO for L.B. Foster (FSTR).

09:04 EDT Gogo leases all available capacity on SES's AMC-4 satellite - Gogo announced a new capacity deal to enhance in-flight connectivity services for key air travel routes over North America and the Pacific Ocean. As part of the new agreement, Gogo has leased all available capacity on SES's AMC-4 satellite, which SES will move to a new orbital location to serve flights to, from and within the states of Alaska and Hawaii, flights along the west coast of the U.S. and over the Pacific Ocean.

09:03 EDT T.J. Rodgers files lawsuit against Cypress Semiconductor - T.J. Rodgers, founder and former CEO of Cypress Semiconductor and the company's largest individual stockholder, filed a lawsuit in the Delaware Court of Chancery seeking to compel the Cypress Board of Directors to make supplemental and corrective disclosures to address numerous material omissions and misstatements of fact in the Cypress Board's proxy materials. Rodgers said, "Cypress directors have a legally mandated 'Duty of Candor' to make complete disclosures to Cypress stockholders on the issues in this election, including why they are allowing Ray Bingham to serve as executive chairman while he has violated and is continuing to violate numerous provisions of Cypress's Code of Business Conduct and Ethics. This second lawsuit seeks to ensure that Cypress stockholders have the information they need to cast an informed vote at the upcoming June 8, 2017 Annual Meeting."

09:01 EDT Black Knight Financial, Lender Price introduce POS digital user interface - Black Knight Financial Services announced that it is working with Lender Price to offer a consumer-facing interface that will deliver a digital loan application process. Through Black Knight's integration with Lender Price's advanced digital user interface and other capabilities, Black Knight's LoanSphere Empower loan origination system clients can now offer their customers the ability to apply for a loan online from virtually any mobile device.

08:58 EDT Fitbit 'actively investigating' claims of device catching fire - Contacted by The Fly following news reports regarding Dina Mitchell's allegations that her Fitbit Flex 2 device caught fire on her arm, causing second-degree burns, a spokesperson for the company said: "We are extremely concerned about Ms. Mitchell's report regarding her Flex 2 and take it very seriously, as the health and safety of our customers is our top priority. Fitbit products are designed and produced in accordance with strict standards and undergo extensive internal and external testing to ensure the safety of our users. We have spoken with Ms. Mitchell and are actively investigating this issue. We are not aware of any other complaints of this nature and see no reason for people to stop wearing their Flex 2. We will share additional information as we are able." Shares of Fitbit are down over 2% in pre-market trading.

08:49 EDT Store No. 8 hires Rent the Runway co-founder Jenny Fleiss - Wal-Mart Stores said its recently launched startup investment arm, Store No 8, has hired Jenny Fleiss as the CEO of its first portfolio company. "This new company will develop highly-personalized, one-to-one shopping experiences. Jenny is a trailblazer in her field and has spent her career advancing ideas that have shaped retail as we know it today. As Co-founder of Rent the Runway, she saw the expansion of the company into a globally recognizable brand and pioneered a new retail model. Under Jenny's leadership, this new company will be a jumping off point for Store No 8's mission to shape the future of commerce."

08:45 EDT Fiesta Restaurant expects Q1 impairment charges of $33M-$37M - Fiesta Restaurant currently estimates it will recognize impairment charges of approximately $33M-$37M in Q1, and related lease and other charges of $9M-$12M in Q2 based on the actual timing of restaurant closures. The closed restaurants contributed approximately $27M of restaurant sales and $14.6M of pre-tax operating losses, including $4.9M of depreciation expense and $1.8M of pre-opening costs, to results in 2016; and estimates of approximately $6.2M of restaurant sales and $3.8M of pre-tax operating losses, including $1.2M of depreciation expense, to results in Q1. Annualized general and administrative expense savings are estimated to be $2.5M-$2.7M.

08:43 EDT Aspen Technology acquires rights to OTS framework software from Inprocess - Aspen Technology announced it has acquired rights to Operator Training Simulator framework software from Inprocess Technology and Consulting Group of Barcelona, Spain. Inprocess, developer of the OTS software, is a consulting service company supplying technological services to owner-operators in the oil & gas, refining and chemical process industries. Today's announcement extends AspenTech's focus on asset optimization by enhancing its ability to meet the increased demand for Operator Training technology. AspenTech will now be able to offer a complete set of OTS software -- adding technology that provides the end-user environment for plant operators and training instructors and helps to connect to the various process control systems that may be used in the real plant. Terms of the transaction were not disclosed.

08:33 EDT Theravance Biopharma reports 'positive' results from TOUR study - Theravance Biopharma announced that new preliminary data from the ongoing Telavancin Observational Use Registry study are the focus of three poster presentations at the 27th European Congress of Clinical Microbiology and Infectious Diseases. TOUR, which has enrolled its target of 1,000 patients, is designed to report how VIBATIV is being used by healthcare practitioners to treat patients in real-world clinical settings. The presented findings, which focus on data from registry patients with diagnoses of complicated skin & skin structure infections, bone and joint infections, or lower respiratory tract infections, report positive clinical responses for VIBATIV treatment ranging from 58.3% to 75.3% in these infection types. Positive clinical response was defined as cure or improvement leading to step-down oral therapy. The Company plans to present additional collections of data from the ongoing TOUR study at appropriate upcoming scientific conferences. The 27th ECCMID is being held in Vienna, Austria, April 22-25, 2017.

08:32 EDT On Track Innovations signs global supply agreement with Dover Fueling Solutions - On Track Innovations (OTIV), through its wholly owned subsidiary OTI PetroSmart, said it has signed a global strategic supply agreement with Dover Fueling Solutions, a subsidiary of Dover (DOV). Under the terms of the agreement, OTI PetroSmart will supply its EasyFuelPlus Automatic Vehicle Identification technology to Dover Fueling Solutions' OPW FMS, Wayne Fueling Systems, and Tokheim brands. The EasyFuelPlus solution, which is fully integrated with automation systems from all three DFS subsidiaries, will be rebranded for DFS and will be available globally via a network of direct operations and channel partners in the 130 countries that DFS serves.

08:31 EDT Alder says 'pleased' with emerging eptinezumab clinical profile from data - Alder BioPharmaceuticals presented additional data for eptinezumab, formerly ALD403, which is in Phase 3 clinical development for the prevention of migraine, at the 69th Annual American Academy of Neurology meeting in Boston."The data presented today at the AAN meeting add to the growing body of preclinical and clinical evidence supporting the differentiated delivery and clinical profile of eptinezumab as a potential treatment for the prevention of migraine," said Randall C. Schatzman, Ph.D., president and chief executive officer of Alder. "There is a high unmet need for preventative migraine treatments that meet patient needs and expectations. We are very pleased with the emerging eptinezumab clinical profile from our data that sets a higher bar for efficacy and has correlated to meaningful improvements in quality of life measures. We look forward to the top-line results from PROMISE 1, our first pivotal Phase 3 clinical trial, expected later this quarter."

08:16 EDT Inseego provides update on CFIUS process, planned sale of MiFi business - In connection with Inseego Corp.'s (INSG) proposed sale of Novatel Wireless (MIFI), including its MiFi mobile broadband business, to Jade Ocean Global Limited, a subsidiary of T.C.L. Industries Holdings, on April 24, 2017, the parties voluntarily withdrew and re-filed the Joint Voluntary Notice that they had previously submitted to the Committee on Foreign Investment in the United States, or CFIUS, under the Defense Production Act of 1950. This action is intended to provide additional time for the parties and CFIUS to seek a definitive mitigation agreement that would enable CFIUS to approve the transaction. While the parties and CFIUS have been working for more than three months to reach a negotiated agreement, a conclusion to the process has not yet been reached. Accordingly, with CFIUS's consent, for the second time since the review process commenced, the parties have withdrawn and re-filed in order to initiate a new period of review. In the event that the sale of Novatel Wireless to TCL is not permitted by the U.S. government, the Company would need to consider all other strategic alternatives available to it with respect to the MiFi mobile broadband business, including other divestiture opportunities.

08:12 EDT HCI Group terminates shareholder rights plan - HCI Group announced that its board of directors has approved the termination of the company's shareholder rights plan, commonly referred to as a "poison pill," by amending the associated rights agreement to accelerate the expiration date to April 18. Shareholders are not required to take any action as a result of this termination.Paresh Patel, chairman of the board and CEO of HCI Group, commented: "When we first established the rights plan in 2013, HCI was a young, rapidly growing company with a large amount of cash, little debt and significant unrecognized investments in real estate and technology. We implemented the plan to protect the company and our shareholders from unfair and coercive takeover attempts and to give the board of directors leverage in negotiating with potential acquirers. However, when our largest shareholder requested a special exemption from the shareholder rights plan, our board reevaluated the value of the plan to the company and our shareholders. After careful consideration of the company's growth and development since the rights plan was adopted, shareholder input, public policy and corporate governance best practices, the board determined it was in the best interests of the company and shareholders to terminate the rights plan before its scheduled expiration in October 2018."

08:12 EDT HCI Group terminates shareholder right splan - HCI Group announced that its board of directors has approved the termination of the company's shareholder rights plan, commonly referred to as a "poison pill," by amending the associated rights agreement to accelerate the expiration date to April 18. Shareholders are not required to take any action as a result of this termination.Paresh Patel, chairman of the board and CEO of HCI Group, commented: "When we first established the rights plan in 2013, HCI was a young, rapidly growing company with a large amount of cash, little debt and significant unrecognized investments in real estate and technology. We implemented the plan to protect the company and our shareholders from unfair and coercive takeover attempts and to give the board of directors leverage in negotiating with potential acquirers. However, when our largest shareholder requested a special exemption from the shareholder rights plan, our board reevaluated the value of the plan to the company and our shareholders. After careful consideration of the company's growth and development since the rights plan was adopted, shareholder input, public policy and corporate governance best practices, the board determined it was in the best interests of the company and shareholders to terminate the rights plan before its scheduled expiration in October 2018."

08:10 EDT aTyr Pharma presents analyses of Resolaris Phase 1b/2 trial at AAN - aTyr Pharma announced its participation as part of the Emerging Science Platform Session at the upcoming American Academy of Neurology 69th Annual Meeting to be held April 22 - 28, 2017 in Boston, MA. The poster presentation provides further detail on the previously announced results from the completed Phase 1b/2 open-label, intra-patient dose escalation 004 trial testing doses of Resolaris of up to 3.0 mg/kg biweekly in patients with LGMD2B and FSHD. Data from all clinical trials completed to date demonstrate that Resolaris has a favorable safety profile and was generally well-tolerated across all doses tested. There have been no observed signs of general immunosuppression and low-level anti-drug antibody signals did not result in clinical symptoms. 78% of the LGMD2B patients in the trial recorded increases in muscle function at 14 weeks as measured by manual muscle test score, a validated assessment tool. 50% of the FSHD patients in the trial recorded increases in muscle function as measured by MMT score. aTyr believes these data are supportive of further advancement of Resolaris.

08:09 EDT Inovio initiates Phase 2 trial with VGX-3100 for HPV-related pre-cancers - Inovio Pharmaceuticals announced that it has commenced a phase 2 trial to evaluate the efficacy of VGX-3100 in patients with pre-cancerous lesions of the vulva, or vulvar intraepithelial neoplasia. VGX-3100 is an immunotherapy that targets human papillomavirus 16 and 18 and is being studied for the treatment of HPV-related pre-cancerous lesions and persistent HPV infection that causes these lesions. This randomized, open label phase 2 study will assess the efficacy of VGX-3100 in 36 women with high-grade HPV-related vulvar lesions. The immunotherapy will be administered with Inovio's CELLECTRA intramuscular delivery device. The primary endpoint of the study is histologic clearance of high-grade lesions and virologic clearance of the HPV virus in vulvar tissue samples. The study will also evaluate safety and tolerability of VGX-3100.

08:07 EDT Durect presented clinical data on DUR-928 at International Liver Congress - DURECT announced that clinical data on DUR-928 were presented at The International Liver Congress 2017 on April 22 in Amsterdam. "DUR-928 was well tolerated in this study and plasma exposure of the molecule was not significantly increased in NASH patients compared to matched control subjects with normal liver function," stated the company. "Importantly, treatment with a single dose of DUR-928 was associated with a decrease in cell death markers, an improvement of a biomarker of liver function, and decreases in certain biomarkers associated with inflammation."

08:05 EDT HTG Molecular, IVO initiate breast cancer recurrence risk collaboration - HTG Molecular Diagnostics announced that it has entered into a research collaboration agreement with Instituto Valenciano de Oncologia. The initial project, utilizing the HTG EdgeSeq Oncology Biomarker Panel, will focus on the development and validation of a breast cancer recurrence risk score, based on genes that are differentially expressed between patients with low and high risk of recurrence.

08:04 EDT Grifols restates agreement with OraSure - Grifols (GRFS) announces that it has restated its 2005 agreement with OraSure Technologies (OSUR). Under terms of the agreement, Grifols, a worldwide provider of recombinant antigens for HCV, HIV, and HBV diagnostic tests, supplies antigens for OraSure's OraQuick HCV Rapid Antibody Test. The test is FDA approved for qualitatively detecting hepatitis C virus antibodies in whole blood obtained through the use of a fingerstick or venipuncture. It enables healthcare providers to deliver results in 20 minutes from individuals 15 years of age and older.

08:03 EDT Lennox says 'we continue to expect another record year' - Management said, "Looking ahead for the company overall, we are reiterating guidance for revenue and adjusted EPS from continuing operations for 2017. While early, the company is off to a strong start, and we continue to expect another record year as we enter our largest seasonal period. We remain focused on capitalizing on end market growth, capturing additional market share with our strategic initiatives, and driving higher profitability."

08:02 EDT Acasti granted additional composition and use patents in Taiwan, Australia - Acasti Pharma announced the granting of additional patents by the Taiwanese and Australian patent offices, further expanding the intellectual property position of CaPre. The granted patents are valid until 2030 and relate to concentrated therapeutic krill oil-based phospholipid omega-3 compositions covering methods for treating or preventing disorders associated with cardiovascular diseases. These patents add to Acasti's growing portfolio of issued patents in the United States, China, Mexico, Saudi Arabia, Panama, and South Africa. Patent applications with similar claim sets are being pursued in many other jurisdictions worldwide.

08:00 EDT Accenture announces collaboration with DFKI - Accenture and the German Research Center for Artificial Intelligence, or DFKI, have formed an alliance to enable clients to take advantage of Artificial Intelligence technologies as fundamental elements of their innovation strategies, helping to shape the future of their organizations. Accenture Analytics, part of Accenture Digital, will apply its deep analytics expertise with DFKI's specialized AI research capabilities to further the adoption of these new technologies in Germany and beyond. Together, Accenture and DFKI will provide clients with direct access to innovative AI technologies, supporting them to understand the potential of applying AI for their organizations and guiding the implementation of new solutions through the adoption of best practices to unlock tangible new value and growth opportunities.

07:39 EDT Biogen to present Phase 3 study of Spinraza at AAN - Biogen will present Phase 3 end of study SPINRAZA, or nusinersen, data from CHERISH, which demonstrated a highly statistically significant and clinically meaningful improvement in motor function in children with later-onset spinal muscular atrophy compared to untreated children. The overall findings continue to support the robust efficacy and favorable safety profile of SPINRAZA across a broad range of individuals with SMA. The SPINRAZA development program represents the largest body of clinical data of its kind in SMA. SPINRAZA data will be presented at the American Academy of Neurology, or AAN, annual meeting in Boston, Mass., April 22-28.

07:36 EDT Kimberly-Clark reports Q1 cash from operations $436M - First quarter cash provided by operations was $436M in 2017 and $553M in 2016. The decrease was driven by higher tax payments. Capital spending for the first quarter was $215M in 2017 and $220M in 2016. First quarter 2017 share repurchases were 2.4M shares at a cost of $300M. Total debt was $7.8B at March 31, 2017 and $7.6B at the end of 2016.

07:34 EDT Kimberly-Clark sees FY17 input cost inflation $150M-$250M - Compared to previous estimate of $50M-$200M. The update reflects modestly higher assumptions on average for several raw materials, including pulp, recycled fiber and polypropylene resin.

07:33 EDT Kimberly-Clark CEO says delivered growth despite 'challenging environment' - Chairman and CEO Thomas J. Falk said, "We delivered earnings growth in the first quarter despite a challenging environment, particularly in North America. We also achieved $110 million of cost savings and improved our margins. In addition, we returned more than $600 million to shareholders through dividends and share repurchases." Falk added, "We are confirming our bottom-line earnings growth range for 2017. The outlook for currencies has improved, while commodity inflation has picked up somewhat and category growth continues to be relatively modest. We remain optimistic about our opportunities to create long-term shareholder value through execution of our Global Business Plan."

07:32 EDT Kimbell Royalty Partners acquires 1.1M acres in Anadarko Basin for $15.9M - Kimbell Royalty Partners announced the closing of the acquisition of 1.1M gross acres of overriding royalty interests in the Anadarko Basin from Maxus Energy Corporation for $15.9M. This acquisition primarily includes assets located in the panhandle of Texas and Northwest portion of Oklahoma. This diversified package, which is substantially all held by production, includes production from multiple stacked pay zones in over 2,600 producing wells located across 32 counties in five states throughout the Mid-Continent, including Texas, Oklahoma, Louisiana, Wyoming and New Mexico. A total of 145 wells have been drilled on the acquired interest since 2014. Management has estimated the average daily production is approximately 272 net Boe/d for the Q1 and total proved reserves are 1,873 MBoe as of April 1 which consists of 74% natural gas, 16% natural gas liquids and 10% oil. The transaction was funded through the Partnership's credit facility.

07:29 EDT Feuerstein says 'stand down' on SAGE takeout after Cloonan hire - Adam Feuerstein tweeted, "$SAGE expands exec team, including former $BIIB - er Michael Cloonan as new Chief Business Officer. Stand down on $SAGE takeout for now."

07:16 EDT Akari: Interim Phase 2 PNH data demonstrate 'positive' response with Coversin - Akari Therapeutics announced that it will present data from an interim analysis of its ongoing Phase 2 trial of Coversin in paroxysmal nocturnal hemoglobinuria, as well as preclinical data for additional indications and other opportunities, at today's Research and Development Day. In this 90 day, open label Phase 2 trial conducted at five centers in the EU, five patients with PNH who had not received prior anti-complement therapy were enrolled and treated with Coversin self-administered subcutaneous injections twice a day for approximately the first month and then switched to once daily injections. The primary endpoint in this trial is reduction in serum LDH to less than or equal to1.8 X ULN or 500 I U/L whichever is the lower from day 1 to day 28. Secondary endpoints are LDH at days 60 and 90, hemoglobin, CH50, quality of life, and transfusion independence. The objectives of our Phase 2 study are to validate the safety and efficacy of Coversin, confirm convenience of its dosing regimen, and study dose ranging to identify the correct treatment dose in advance of Phase 3. In this dose ranging Phase 2 study, the protocol allowed for patients to be updosed from the 30mg starting dose. Of the 4 patients continuing on Coversin: the first patient's LDH went from 2.4X ULN at baseline to 2.1X ULN on the starting dose, was updosed to 45 mg and achieved a reduction to 1.3X ULN on day 28 and remains on 45mg once daily injections; the second patient with an LDH of 7.5X ULN at baseline, achieved a reduction to 1.4X ULN on day 28 with the starting dose, and remains on 30mg once daily injections; the third patient's LDH went from 3.3X ULN at baseline to 2.4X ULN on the starting dose, was updosed to 45 mg and achieved a reduction to 1.5X ULN on day 60 and remains on 45mg once daily injections; and the fourth patient who just reached the 6 week mark for this interim analysis achieved an LDH reduction from 5.6 X ULN at baseline to 1.8X ULN on day 40 on the starting dose, and was updosed to 45mg on day 48 and continues on once daily injections. All 4 patients achieved on day 1 and throughout the trial a CH50 below the lower limit of quantification. "A fifth patient with an LDH of 3.7 X ULN at baseline achieved the primary endpoint at day 14, but was withdrawn from the trial at day 43 due to a suspected co-morbidity unrelated to treatment, which would have excluded the patient from the trial protocol. While on Coversin, the patient met the primary endpoint, and achieved and maintained a CH50 less thanLLQ but clinical response fluctuated and did not stabilize. After withdrawal, the patient switched to eculizumab. On eculizumab, LDH decreased to below 1.5X ULN and the patient experienced other clinical complications. As reported previously, an eculizumab-resistant PNH patient had been under treatment with subcutaneous Coversin for over 14 months under an approved clinical protocol. The patient continues to self-administer Coversin and continues to demonstrate complete complement inhibition without any change in dose. The patient's most recent reported LDH was below 1.3 X ULN. Further, there have been no signs of neutralizing antibodies. All patients are comfortable with self-dosing and by the end of May, we plan to have the four continuing patients from this Phase 2 and the one patient from the eculizumab resistant protocol on long term treatment in our long term open label safety trial. Akari is planning to initiate its Phase 3 program in PNH in the fourth quarter of 2017 and anticipates initial Phase 3 data 1Q2019."

07:09 EDT AkzoNobel confirms third unsolicited, conditional proposal from PPG

07:09 EDT XOMA says X213 shown to be safe and effective in phase 2 study - XOMA Corporation announced that it has achieved positive Phase 2 proof-of-concept results for X213 in physiological hyperprolactinemia. X213 is a monoclonal antibody that neutralizes prolactin action. The Phase 2 study was a multi-center, open-labelled, randomized, single-dose, controlled trial of intravenously administered X213 in women who wished to suppress lactation immediately post-partum. The results of the study indicate that X213, when given as a single 700mg intravenous infusion during the first day post-partum, was effective in suppressing milk secretion, as well as breast engorgement and pain in 100 percent of the treated women. In addition, none of the treated women experienced rebound breast symptomatology during the 21-day study period. While the study was not intended, or powered to show statistical significance, it demonstrated that X213 was: safe and well tolerated; caused no significant adverse events; showed favorable pharmacokinetics with a terminal half-life of two weeks and; demonstrated target engagement and mechanism of action confirmation by serum prolactin profiling. "This proof-of-concept study was an important milestone in demonstrating the potential efficacy of this novel antibody. We believe that X213 could be a treatment option for a wide range of patients with hyperprolactinemia including prolactinoma and anti-psychotic induced HPRL as the signs and symptoms are similar irrespective of the etiology. Consistent with our business strategy, we intend to maximize the value of X213 for shareholders by seeking a license partner for the program," said CEO Jim Neal.

07:07 EDT Akers Biosciences says digital apps approved by Apple Store - Akers Biosciences announces that the Akers Wellness app, which enables users to track the results of Akers Wellness breath-based tests via their mobile device, has been approved by the Apple App Store and is now available for download on iOS devices. The Akers Wellness app has until now only been available for android devices on the Google Play Store.

07:06 EDT AkzoNobel says will 'carefully review' PPG's third unsolicited proposal - Akzo Nobel N.V. (AKZOY) confirms it has received a third unsolicited and conditional proposal from PPG (PPG) for all outstanding share capital of the company. In accordance with its fiduciary duties and acting under the Dutch governance code the Board of Management and Supervisory Board of AkzoNobel will carefully review and consider this proposal.

07:05 EDT Paratek, Zai Lab announce collaboration for Omadacycline in China - Paratek Pharmaceuticals announced that it has entered into a collaboration with Zai Lab Shanghai Co., Ltd., a biopharmaceutical company based in China, to support the development and commercialization of omadacycline for patients in China. Under the agreement, Paratek has granted to Zai Lab an exclusive license to develop, manufacture and commercialize omadacycline for the greater China territory, specifically the People's Republic of China, Hong Kong, Macau, and Taiwan markets. The companies will establish a joint steering committee to review and oversee all development, manufacturing, and commercialization plans. Paratek will receive a $7.5M upfront payment in connection with the signing of the agreement and is eligible for additional milestone payments related to development, regulatory, and commercial milestones. In addition, Paratek will be eligible to receive royalty payments on sales of omadacycline in the territory.

07:04 EDT Buffalo Wild Wings announces filing of proxy materials - Buffalo Wild Wings announced that it has filed definitive proxy materials with the SEC in connection with the company's upcoming 2017 Annual Meeting of Shareholders to be held on June 2. The Buffalo Wild Wings Board of Directors unanimously recommends that shareholders vote the yellow proxy card "for" the election of all nine of the Board's nominees: Cynthia L. Davis, Andre J. Fernandez, Janice L. Fields, Harry A. Lawton, J. Oliver Maggard, Jerry R. Rose, Sam B. Rovit, Harmit J. Singh and Sally J. Smith.

07:03 EDT Paratek: Omadacycline 'effective' against most common skin infections, MRSA - Paratek Pharmaceuticals announced that an analysis of microbiology data from its Phase 3 study of omadacycline in acute skin infections found that once-daily treatment with IV-to-oral omadacycline is effective in treating the most frequently isolated bacterial pathogens associated with skin infections, including methicillin-resistant Staphylococcus aureus. These findings were presented for the first time at the annual meeting of the European Congress of Clinical Microbiology and Infectious Diseases in Vienna, Austria.Paratek also presented full clinical efficacy, safety and tolerability results from the study, which is known as OASIS. The full results demonstrate the efficacy and safety of omadacycline compared to linezolid in acute bacterial skin and skin structure infections.

07:02 EDT PDL BioPharma settles Keytruda patent infringement suit with Merck - PDL BioPharma (PDLI) announced that on April 21, the company entered into a settlement agreement with certain subsidiaries of Merck (MRK) to resolve the patent infringement lawsuit between the parties pending in the U.S. District Court for the District of New Jersey related to Merck's Keytruda humanized antibody product. Under the terms of the agreement, Merck will pay the Company a one time, lump-sum payment of $19.5M, and the Company will grant Merck a fully paid-up, royalty free, non-exclusive license to certain of the Company's Queen et al. patent rights for use in connection with Keytruda as well as a covenant not to sue Merck for any royalties regarding Keytruda. In addition, the parties agreed to dismiss all claims in the relevant legal proceedings. "We are pleased to resolve this patent infringement lawsuit with Merck with a favorable monetary settlement to PDL as well as eliminating potential future litigation costs related to this matter for both parties," said John P. McLaughlin, president and CEO of PDL. "As a result of this settlement, we expect to recognize $19.5 million in license revenue for the second quarter ending June 30, 2017."

07:01 EDT RedHill Biopharma announces enrollment of last patient in Bekinda Phase II study - RedHill Biopharma announced enrollment of the last patient in the Phase II study with BEKINDA 12 mg for the treatment of diarrhea-predominant irritable bowel syndrome. The randomized, double-blind, placebo-controlled Phase II study is evaluating the safety and efficacy of BEKINDA 12 mg in adults over the age of 18 with IBS-D. The study enrolled 127 subjects in 16 U.S. clinical sites. Top-line results are expected in the third quarter of 2017.Subjects enrolled in the Phase II IBS-D study were randomized 60:40 to receive either BEKINDA 12 mg or a placebo, once daily, for a period of eight weeks. The primary endpoint for the study is the proportion of patients in each treatment group with response in stool consistency as compared to baseline, per FDA guidance definition. Secondary endpoints include the proportion of patients in each treatment group who are pain responders and the proportion of patients in each treatment group who are responders to the combined endpoints of stool consistency and pain, per FDA guidance definition. Top-line results from the Phase III study with BEKINDA 24 mg for acute gastroenteritis and gastritis are expected in the second quarter of 2017. In February 2017, RedHill announced that the last patient had completed the treatment course and observation period in the randomized, double-blind, placebo-controlled GUARD study, which treated 320 adults and children over the age of 12 in 29 U.S. clinical sites.

06:51 EDT Eli Lilly announces Phase 3 MONARCH 3 study of abemaciclib met primary endpoint - Eli Lilly announced that following a pre-planned interim analysis for MONARCH 3, the trial met its primary endpoint of demonstrating statistically significant improvement in progression-free survival, or PFS. In addition, improvement was shown in a key secondary endpoint of objective response rate, or ORR. The Phase 3 study evaluated abemaciclib, a cyclin-dependent kinase 4, or CDK4, and CDK6 inhibitor, in combination with an aromatase inhibitor compared to treatment with an aromatase inhibitor alone in women with hormone-receptor-positive, human epidermal growth factor receptor 2-negative advanced breast cancer. Detailed efficacy and safety results will be presented at a medical meeting in the second half of the year.

06:50 EDT Hasbro: Q1 operating profit negatively impacted by extra week of expenses - Says capital priorities include: Investing in long-term profitable growth, returning excess cash to shareholders via dividend and share repurchase program, maintaining "solid" investment grade rating. Says Q1 operating profit negatively impacted by an extra week of expenses, shift in product mix. Comments from slides that will be presented on the Q1 earnings conference call.

06:37 EDT PPG says 'ready to move swiftly' on AkzoNobel deal - PPG (PPG) remains ready to move swiftly and is in a position to complete a confirmatory due diligence simultaneously with the negotiation of a merger agreement with a view to come to a recommended transaction within a short period of time. PPG expects such merger agreement to be customary for transactions of this nature, in particular with respect to non-financial covenants relating to employees, integration, governance, strategy and post-closing restructurings. No agreement has been reached and there can be no assurances that any transaction will result from this proposal. PPG has submitted a proposal to the Boards of AkzoNobel (AKZOY) to achieve the combination of their respective businesses by way of a public offer for all issued and outstanding ordinary shares of AkzoNobel. The offer will be subject to pre-offer and offer conditions customary for transactions of this nature, including but not limited to a minimum acceptance level, required regulatory clearances having been obtained, PPG's shareholders having approved the issuance of PPG common stock and no material adverse change having occurred. PPG will determine and confirm the conditions to the offer in accordance with applicable laws. PPG remains confident in its ability to execute and complete the proposed transaction and to obtain all necessary regulatory approvals.

06:36 EDT Hasbro repurchased 218,000 shares of common stock during Q1 - During the first quarter, Hasbro repurchased 218,000 shares of common stock at a total cost of $18.1M and an average price of $82.82 per share. At quarter-end, $309.9M remained available in the current share repurchase authorization.

06:34 EDT PPG's revised proposal to AkzoNobel now valued at approximately $28.8B - PPG (PPG) announced that it submitted a revised proposal on April 24, 2017 for a combination with Akzo Nobel N.V. (AKZOY). The comprehensive proposal letter, which was provided to Messrs. Antony Burgmans, Chairman of the Supervisory Board and Ton Buchner, CEO and Chairman of the Board of Management, detailed PPG's increased price of Eur 96.75 per outstanding ordinary share of AkzoNobel, comprised of cash of Eur 61.50 and 0.357 shares of PPG common stock. Including the assumption of net debt and minority interests, the proposed transaction is now valued at approximately Eur 26.9 billion, or $28.8B. In the letter, PPG Chairman and Chief Executive Officer Michael McGarry said, "We are extending this one last invitation to you and the AkzoNobel boards to reconsider your stance and to engage with us on creating extraordinary value and benefits for all of AkzoNobel's stakeholders. "Our revised proposal represents a second increase in price along with significant and highly-specific commitments that we are confident AkzoNobel's stakeholders will find compelling. We stand ready to work with you expeditiously to complete a targeted due diligence review and to negotiate a definitive agreement for the combination." PPG believes its revised proposal is vastly superior to AkzoNobel's new standalone plan, as articulated on April 19, 2017. As evidenced by the decline in AkzoNobel's stock price since its investor update, the capital markets have not recognized any additional value from its new standalone plan, including the enhanced regular dividend and special dividend that AkzoNobel has proposed for 2017. PPG believes the long-term value creation from a combination of the two companies will be significant for shareholders of both companies, including the benefits of annual synergies of at least $750 million, which PPG has estimated based on publicly available information. PPG's revised proposal offers a value to AkzoNobel's shareholders that is well in excess of AkzoNobel's ability or track record to create value on a standalone basis, including via its revised strategy, in the near future as well as in the medium and long term. PPG is prepared to make significant commitments to AkzoNobel's stakeholders, as set forth in the revised proposal letter, that provide greater value and certainty than AkzoNobel's new standalone plan.

06:33 EDT PPG submits revised proposal to AkzoNobel to combine companies

06:30 EDT Kennedy Wilson, Kennedy Wilson Europe Real Estate announce combinaiton - Kennedy-Wilson Holdings and Kennedy Wilson Europe Real Estate announced that they have reached agreement on the terms of a recommended all-share combination transaction that will create a leading global real estate investment and asset management platform. As a result of the transaction, KWE will become a wholly owned subsidiary of KW. The transaction will be effected by means of a court-sanctioned scheme of arrangement under Article 125 of the Jersey Companies Law. Under the terms of the transaction, each KWE shareholder will be entitled to receive 0.667 new KW shares for each KWE share held by it. Based on the US$22.50 closing price of KW shares on April 21, 2017, the last trading day prior to the announcement, and a GBP / USD exchange rate of 1.2779, the implied value per share of KWE is 1,174 pence, which represents a premium of approximately 20.0% to the closing price of 979 pence per KWE share on April 21, 2017 and 22.4% to the volume weighted average closing price of 960 pence per KWE share for the three month period ended April 21, 2017. Based on pro forma ownership, existing KW shareholders will own approximately 64% and former KWE shareholders will own approximately 36% of KW following completion of the transaction. Since its IPO, KWE has been managed by KW's leadership team, utilizing KW's proven platform and systems. Upon the closing of the transaction, there will be no change to leadership or systems, which will enable a seamless integration and should minimize integration risk and disruption to the business. Additionally, KW's Board and management will own approximately 13% of the shares in the combined company following completion of the transaction, which creates a strong alignment with shareholders. The transaction is expected to close during the third quarter of 2017, subject to customary closing conditions including, among other things, receipt of KW and KWE shareholder approval. The KW Board of Directors has unanimously approved the transaction. The KW Board of Directors considers the transaction to be in the best interests of KW and its stockholders and intends to unanimously recommend that KW stockholders vote in favor of the issuance of KW shares in connection with the transaction. The independent directors of KWE have indicated to KWE shareholders that they intend unanimously to recommend the transaction to KWE shareholders in due course in the formal circular relating to the scheme of arrangement under Jersey law by which the transaction will be implemented.

06:14 EDT Alcobra urges shareholders to reject Brosh Group's effort to control the Board - Alcobra mailed proxy materials for the Extraordinary General Meeting of Shareholders, called by Brosh Capital and certain of its affiliates, to describe the Board's opposition to the Brosh Group's calling of the meeting and to provide shareholders with the ability to vote on the Company's proxy card to defend Alcobra against an opportunistic takeover by a new investor with no track record of managing pharmaceutical companies. As previously announced, Alcobra believes that the Brosh Group's proposals violate the organizational documents of the Company and applicable law, and therefore Alcobra respectfully rejected the Brosh Group's request to convene an extraordinary general meeting of shareholders. Alcobra believes the Extraordinary Meeting of Shareholders should not be held in light of applicable law, but is nevertheless committed to defending shareholders against an opportunistic takeover should the meeting be deemed legally valid. Accordingly, Alcobra urges shareholders to reject the Brosh Group's efforts to take control of the Board of Directors.

06:08 EDT Pfizer announces results of REPROVE Study - Positive results of the REPROVE Study showed that patients diagnosed with hospital-acquired pneumonia, or HAP, treated with Zavicefta, a novel combination antibiotic for the treatment of certain known or suspected Gram-negative bacterial infections, or Meropenem, a broad spectrum carbapenem antibiotic currently considered the standard of care, experienced comparable rates of clinical cure at test-of-cure 21-25 days after randomization. Clinical cure was the primary endpoint of the study and defined as a complete resolution of all signs and symptoms of infection. In addition, patients treated with Zavicefta and Meropenem experienced comparable rates of tolerability consistent with the known profile of ceftazidime alone. The results of the REPROVE study were presented today at the 27th annual meeting of the European Congress of Clinical Microbiology and Infectious Disease in Vienna.

06:06 EDT RLJ Lodging Trust, Felcor Lodging combination to be led by Ross Bierkan as CEO - The combined company will continue to be led by Robert Johnson as Executive Chairman, Ross Bierkan as President and CEO, and Leslie Hale as COO and CFO. Upon completion, the company's headquarters will remain in Bethesda, Maryland. The number of Trustees on RLJ's Board will be increased to eight, with one existing FelCor director mutually acceptable to FelCor and RLJ being appointed to the RLJ Board upon closing.

06:03 EDT RLJ Lodging Trust, Felcor Lodging to merge in all-stock transaction - RLJ Lodging Trust (RLJ) and FelCor Lodging Trust (FCH) announced that they have entered into a definitive merger agreement under which FelCor will merge with and into a wholly-owned subsidiary of RLJ in an all-stock transaction. Post-merger, RLJ is expected to have a pro forma equity market capitalization of approximately $4.2B and a total enterprise value of $7B, creating the largest pure-play public REIT dedicated to owning focused-service and compact full-service hotels. The merger will establish the third biggest pure-play lodging REIT by enterprise value, creating meaningful scale to capitalize on cost efficiencies, negotiate leverage and access to capital, and the opportunity to strategically recycle assets and optimize the portfolio. The combined company will have ownership interests in 160 hotels, including premium-branded hotels located primarily in urban and coastal markets with multiple demand generators. The combination also provides significant penetration within key high-growth markets and broad geographic and brand diversity. With a strong and flexible balance sheet and disciplined approach to portfolio and asset management, the combined company will have the attributes and capabilities to drive accretive growth and to pursue additional opportunities to enhance value. Under the terms of the Merger Agreement, each share of FelCor common stock will be converted into 0.362 shares of newly issued common shares of RLJ common stock in a taxable merger. FelCor's operating units will be exchanged for limited partnership units in RLJ's operating partnership at a similar exchange ratio of 0.362. Following the merger, RLJ's shareholders are expected to own approximately 71 percent of the combined company's fully diluted equity, and FelCor's shareholders are expected to own the remaining 29 percent. This strategic merger was unanimously approved by the Boards of both companies. Once the merger is consummated, the company will retain the RLJ Lodging Trust name and will trade under the ticker symbol "RLJ." The combined entity will have 31,467 rooms across 160 hotels. The merger will be immediately accretive to RLJ's RevPAR with Pro forma 2016 RevPAR increasing 5.4% to $137. Both RLJ and FelCor are expected to continue to follow their respective dividend policies until the closing of the merger. Following the closing of the transaction, the new company expects to pay a quarterly dividend of $0.33 per common share of beneficial interest, consistent with RLJ's current dividend policy. Any post-merger dividends are subject to the approval of RLJ's Board.

05:51 EDT Sohu.com sees Q2 EPS ($2.05)-($1.80), consensus ($1.53) - Sees Q2 revenue $390M-$420M, consensus $438.34M.

05:37 EDT Novartis says data from Phase IV MS-MRIUS study confirms Gilenya effectiveness - Novartis announced data from the Phase IV Multiple Sclerosis and clinical outcome and MRI in the U.S., or MS-MRIUS, study, which confirmed the effectiveness of Gilenya in the real-world setting, supporting previous findings from Phase III trials. Results show that Gilenya impacted four key measures of MS disease activity, in people with relapsing-remitting multiple sclerosis, or RRMS, for up to 16 months. This is also the first time a multicenter study has evaluated and shown that routine magnetic resonance imaging, or MRI, scans taken in the every-day clinical setting can reliably be used to measure brain shrinkage, a key measure of disease progression, in people with RRMS. Full results are presented at the American Academy of Neurology Annual Meeting, in Boston, Massachusetts.