Stockwinners Market Radar for May 09, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:55 EDT Microsoft unveils Harman Kardon-made smart speaker - Microsoft (MSFT) unveiled new details of it and partner Harman Kardon's smart speaker, featuring the company's "Cortana" digital assistant. The device, named Invoke, "combines the rich, captivating sound that Harman Kardon is known for with your personal digital assistant, Cortana, in an innovative and beautifully designed speaker for the home," the company said. Harman Kardon is a unit of Harman, which has been acquired by Samsung (SSNLF). Other companies in the smart speaker market include Google (GOOG) and Amazon (AMZN). Reference Link

19:46 EDT Amazon rolls out 'Prime Live Events' - Amazon announced the launch of Prime Live Events, offering exclusive concert performances for Prime subscribers. The initial concert lineup will take place in London, according to the Prime Live Events website. Reference Link

19:36 EDT West Corp to be acquired by Apollo Global for $23.50 per share in cash - West Corporation (WSTC) announced it has entered into a definitive agreement with affiliates of certain funds managed by affiliates of Apollo Global (APO) pursuant to which the Apollo funds will acquire all of the outstanding shares of West common stock for $23.50 per share in cash. The purchase price represents a premium of approximately 17.5% over West's closing stock price on November 1, 2016, the last trading day prior to the announcement that the company initiated a process to explore strategic and financial alternatives. The proposed transaction has an enterprise value of approximately $5.1B, including net debt. Certain West stockholders, including Thomas H. Lee Partners, Quadrangle Group, Gary West and Mary West, who in the aggregate beneficially own approximately 45% of West's outstanding common stock, have committed to vote in favor of the proposed transaction. The transaction is expected to close in the second half of the year. Following the transaction West will become a privately held company. As a condition to the transaction, West has agreed to suspend payment of its quarterly dividend, effective immediately. "Over the past six months, we have evaluated a wide range of strategic and financial alternatives, including the sale or separation of assets; various balance sheet options; as well as continuing to operate under our current structure. We believe strongly that the transaction we are announcing today is the best outcome," said CEO Tom Barker. "West is the leader in global conferencing and collaboration services, and is well-positioned to capitalize on customer migration to cloud-based solutions," commented Apollo.

19:25 EDT Petrobras: Not in talks with Exxon on strategic partnership - Petrobras (PBR) issued the following statement: "Petrobras, in relation to the news released through the press, clarifies that there are no negotiations in progress to create a strategic alliance with the North American company Exxon Mobil (XOM), as already disclosed to the market in 04/04/2017. Petrobras reinforces, however, that it is in constant contact with oil and gas companies to assess opportunities and share experiences." Reference Link

19:15 EDT Resource Capital names Matthew J. Stern president - Resource Capital announced that Matthew J. Stern has been appointed as its president. Stern is a Senior Managing Director of Island Capital Group and its portfolio company C-III Capital Partners LLC. C-III has owned the company's external manager since C-III acquired Resource America, Inc. in September 2016.

18:40 EDT Allergan CEO: Q1 is lowest sales quarter - Says higher royalty products selling faster. Says aesthetics very strong in Q1. Says people are aware of company's products, but penetration is quite small. Brent Saunders is speaking on CNBC.

18:17 EDT First Data, Live Oak announces digital banking JV - First Data (FDC) and Live Oak Bancshares (LOB), parent company to national online lender Live Oak Banking Company and to Live Oak Ventures, announced a new joint venture to accelerate the growth of next generation digital banking services. As part of the agreement, First Data and Live Oak will contribute their digital banking platforms, products, and services to the new company, yet to be named. First Data will own 50% of the joint venture and Live Oak will own 50%. The deal is expected to close in the third quarter.

18:02 EDT Celanese raises price of acetic acid - Celanese will increase list and off-list selling prices for Acetic Acid to $50 per MT in AOC and to RMB 350 per MT. The price increases will be effective immediately, or as contracts otherwise allow.

17:56 EDT Apple clarifies App Store commission change - Apple issued the following statement: "We'd like to clarify some changes being made to the Affiliate Program. Commissions for all iOS in-app purchases will be reduced from 7% to 2.5% globally, and all other content types -- including music, movies, books, paid iOS apps and TV -- will remain at the current 7%." Reference Link

17:45 EDT Marcus & Millichap says Q2 comparisons 'will be challenging' - "Second quarter 2017 year-over-year comparisons will be challenging in light of the solid performance in the second quarter of 2016 in contrast to current market headwinds. In addition, the Company's strategic increase in investments in infrastructure and systems improvements are ongoing and will position the firm for long-term growth. Expense leveraging is not expected until late 2017-2018," said the company.

17:38 EDT Dynegy, American Electric complete Ohio transactions - Dynegy (DYN) finalized the sale of its 40% ownership interest in Conesville Power Station to AEP (AEP) and acquired AEP's 25.4% ownership interest in Zimmer Power Station. No cash was exchanged, no additional debt incurred and AEP returned $58M in letters of credit previously posted by Dynegy to AEP. As a result, Dynegy owns 71.9% and operates Zimmer. Dynegy no longer has ownership interest in the AEP-operated Conesville.

17:32 EDT AMD up 4.3% after Nvidia earnings, guidance

17:17 EDT Silver Spring says selected by Golden Valley Electric - Golden Valley Electric Association and Silver Spring Networks announced that GVEA has selected Silver Spring's multi-application IPv6 platform for the deployment of advanced metering infrastructure. GVEA is an electric cooperative operating across a 5,973-square-mile service territory in the interior of Alaska, and its system is interconnected with four military bases and the University of Alaska-Fairbanks. GVEA selected Silver Spring Networks to help modernize its grid infrastructure, improve system reliability, increase operational efficiencies, and enable its members to better manage their energy use. Silver Spring is expected to begin deployment of the system this summer and is intended to serve GVEA's nearly 50,000 homes and businesses.

17:16 EDT American Renal Associates sees FY17 AEBITDA less NCI $100M-$106M - The 2017 Outlook reflects the previously announced estimated decline of approximately $25 million related to reductions from Affordable Care Act-compliant individual marketplace plans, as compared to 2016, for patients who also received charitable premium assistance. The estimated $25 million decline from 2016 Adjusted EBITDA less NCI takes ARA's weighted average dialysis facility ownership into account. The Company's 2017 Adjusted EBITDA less NCI Outlook excludes severance costs, certain legal costs, and other future potential costs, which could include potential closure and consolidation costs, to the extent they occur during 2017.

17:15 EDT Calithera Biosciences sees cash, cash equivalents $180M-$190M year-end - Calithera expects that its cash, cash equivalents and investments will be between $180 and $190 million at the end of 2017, exclusive of any funds arising from new collaborations or partnerships, achievement of additional milestones, additional equity financings or other new sources.

17:13 EDT Arconic board: Elliott letter a 'compliation of the same misleading claims' - The board of directors of Arconic issued a letter shareholders in response to the latest letter issued by Elliott Management. The company urges shareholders to vote "FOR" the company's new slate of five director nominees and governance proposals on the NEW WHITE proxy card. "Earlier this week, Elliott Management issued its latest letter in the ongoing proxy contest, which is essentially a compilation of the same misleading claims and unfounded allegations that have characterized its months-long attack on Arconic's Board and management," Arconic said in the letter. "Elliott's most recent letter really boils down to a simple proposition with three elements: Arconic has the wrong strategy, real change is needed, and Elliott's director nominees offer the best path to real change. Elliott has advocated each of these three elements with disingenuous rhetoric, but each is completely wrong. We urge shareholders to apply their business judgment and experience in giving Elliott's assertions a reality check based on the facts and the specific voting decisions that shareholders will make at Arconic's 2017 Annual Meeting on May 25, 2017."

17:08 EDT Pan American Silver reaffirms FY17 production view 155,000-165,000 ounces - Operating results in Q1 2017 are largely on track to achieve the Company's Guidance for 2017. While Q1 2017 gold production was slightly lower than the rate required to achieve the low end of our 2017 annual forecast range of 155,000-165,000 ounces, the Company has reaffirmed the current forecast range based on an anticipated increase in gold production from the Dolores expansion and a decrease at Manantial Espejo following the completion of open-pit mining.

17:05 EDT Revance backs FY17 cash burn view $102M-$112M - Backs FY17 operating expense $108M-$119M.

17:02 EDT Disney reports ESPN Q2 adjusted ad revenue down 1% - "Cable results reflect a decline at ESPN, partially offset by growth at Disney Channels and Freeform. At ESPN, higher programming and production expenses were partially offset by higher affiliate and advertising revenue. As I've previously mentioned, we expected ESPN's programming costs to be up meaningfully in the second quarter due to the impact of the first year of our new NBA rights deal, and the shift of three College Football Playoff games into Q2, compared to last year... Ad revenue at ESPN was up 5% in the second quarter as higher rates were partially offset by a decrease in impressions. We estimate Q2 ad revenue was down 1%, excluding the impact of the three additional bowl games," says Disney CFO.

16:59 EDT Mercury Systems receives $8.8M order - Mercury Systems announced it received an $8.8M follow-on order from a leading defense prime contractor for high-performance digital signal processing subsystems for an unmanned airborne intelligence, surveillance and reconnaissance application. The order was booked in the company's Q3 and is expected to be shipped over the next several quarters.

16:57 EDT Microchip raises long-term non-GAAP operating model to 62.5% from 60% -

16:54 EDT Disney raises buyback target by $2B to $9B-$10B for the year

16:50 EDT Disney CFO updates CapEx view, sees $200M lower than prior year

16:48 EDT Salem Five receives all regulatory approvals to acquire Georgetown Bancorp - Salem Five announced that all regulatory approvals have been received by Salem Five Bancorp and subsidiaries to allow it to proceed with the acquisition of Georgetown Bancorp Inc. and Georgetown Bank. The two banks currently expect to close the transaction no later than May 31, 2017.

16:45 EDT Microchip trading resumes

16:41 EDT Disney CEO sees return to 'more robust' growth in FY18 and beyond

16:38 EDT Watts Water raises quarterly dividend 5.5% to 19c per share - Watts Water announced an increase in its quarterly dividend of 5.5%, or 1c, to 19c per share, on each outstanding share of the company's Class A and Class B Common Stock. The dividend will be paid on June 16, 2017, to stockholders of record at the close of business on June 2, 2017.

16:36 EDT Abraxas backs FY17 production view 7,800-8,600 Boepd - Backs FY17 CapEx view $110M. Abraxas also reiterates the company's cost guidance for the year.

16:36 EDT Disney on streaming services: Per-sub pricing 'as valuable' as traditional TV - Disney CEO Bob Iger is speaking on the company's Q2 earnings conference call.

16:32 EDT RCI Hospitality sees acquisitions to build upon original FY17 plan - The company stated, "Our acquisitions will build upon our original FY17 plan. In addition to our Q2 Nightclub and Bombshells units, the second half of FY17 should benefit from the new clubs and Bombshells, our recent club acquisitions, and the possible sale of our first Bombshells franchises."

16:26 EDT Ironwood reports multiple data presentation on linaclotide - Ironwood Pharmaceuticals (IRWD) this week presented clinical data on the effect of linaclotide on abdominal pain in irritable bowel syndrome with constipation patients and preclinical data on linaclotide's effect on pain originating in other visceral organs at Digestive Disease Week. Detailed data from a Phase IIb clinical trial evaluating the effects of two investigational delayed release formulations of linaclotide on abdominal pain in adult patients with IBS-C were presented. In addition, Ironwood and its collaborators delivered oral and poster presentations at DDW regarding a series of preclinical studies suggesting that linaclotide may have effects on pain associated with conditions affecting visceral organs outside of the gastrointestinal tract, such as the bladder or vagina. Regarding the presentation on "Effect of Linaclotide Delayed Release on Abdominal Pain in IBS-C," the company stated: "Data from the Phase IIb study of linaclotide delayed release-1 demonstrated dose-dependent improvements in abdominal pain as well as in complete spontaneous bowel movements and stool consistency, compared to placebo, across all studied doses. Additionally, improvements in abdominal pain and stool consistency were greater for the DR1 300 mcg dose compared to the 290 mcg immediate release formulation of linaclotide. Data from the Phase IIb study of linaclotide delayed release-2 showed that all studied doses improved abdominal pain and other abdominal symptoms, relative to placebo, with no apparent effect on bowel movement function, as intended. These comparisons reflect numerical differences. Diarrhea was the most common adverse event. Across all DR1 and DR2 dose groups, 0-3% of patients withdrew from the trial due to diarrhea... Ironwood and its U.S. collaboration partner Allergan (AGN) intend to engage with the FDA to discuss Phase III development plans, with trials in adults with IBS-C expected to begin in the second half of 2017. The companies are evaluating DR2 in adult patients with non-constipation subtypes of IBS, and plan to discuss next steps with the FDA for advancing DR2 into Phase IIb dose-ranging clinical trials." Regarding the presentation on "Effect of Linaclotide on Various Models of Visceral Hypersensitivity (Preclinical Data)," the company stated: "Preclinical data in a model of colonic hypersensitivity induced by bladder injury... suggested that oral administration of linaclotide significantly reduced this colonic hypersensitivity, as measured by visceromotor responses to colonic distention and pERK expression. These data suggest that GC-C agonism may be able to affect various abdominal and pelvic area organ pain through visceral organ crosstalk... Both acute and chronic oral administration of linaclotide significantly reduced vaginal pain in a preclinical model of endometriosis, measured by visceromotor responses to vaginal distension. GC-C expression was detected in the intestine, but not in endometrial cysts and the vagina, suggesting that the effect of linaclotide on visceral pain in this model involves shared nervous pathways between visceral organs... Linaclotide reduced colonic hypersensitivity, as measured by visceromotor responses, and also reversed the sprouting of colonic afferent nerves in the spinal cord, which had sprouted in response to pain stimuli in preclinical models... Another preclinical study [showed that] linaclotide did not directly inhibit DRG neurons, but rather its downstream mediator, cyclic guanosine monophosphate, was responsible for decreasing activity of these pain-sensing nerves. The study also showed that extracellular cGMP did not enter DRG neurons."

16:22 EDT Infinity Pharmaceuticals sees FY17 net loss $40M-$50M - Infinity expects to end 2017 with a cash, cash equivalents and available-for-sale securities balance ranging from $40M-$50M.

16:18 EDT Amplify Snack Brands announces international leadership transition - Amplify Snack Brands announced several management changes as part of its ongoing Tyrrells integration plans. David Milner has transitioned out of his role as Executive Vice President, President International. In the interim, and in connection with the transition, Amplify has engaged Ben Clarke, who has previously served as the Chief Executive Officer of U.K.-based Burton's Biscuits and as an executive with Kraft, who will help lead and advise the International segment while the Company conducts a search for an International business leader. "As part of our leadership transition plans for the International business, we have recently recruited an energetic and talented team with rich consumer packaged goods and food experience to lead the International functional departments of Marketing, Operations, Finance and Sales. This new team is already moving the business in a positive direction."

16:14 EDT OvaScience outlines expected 2017 milestones - "The Company expects to achieve the following milestones in 2017: OvaTure: Fertilize a bovine EggPC cell-derived egg by year-end. OvaPrime: Complete enrollment of 70 patients in the ongoing Canadian study by the end of the first-half. Complete biopsies in 70 patients in the ongoing Canadian study by year-end. Provide initial read-out, including six months of post-EggPC reintroduction safety data from 20 patients, by year-end," said OvaScience. Additionally, the company said it "continues to work with its clinical partners to develop a repeatable and robust process for the maturation of human EggPC cells and to secure authorization to fertilize human EggPC cell-derived eggs and embryos by the end of the first half of 2018."

16:13 EDT Xencor expects to end 2017 with approximately $340M in cash and equivalents - Based on current operating plans, Xencor expects to have cash to fund research and development programs and operations beyond the end of 2020. Xencor expects to end 2017 with approximately $340M in cash, cash equivalents, and marketable securities.

16:11 EDT TripAdvisor CEO says '2017 is off to a productive start' - "2017 is off to a productive start," said CEO Steve Kaufer. "Our 500 million reviews and opinions continue to forge TripAdvisor brand affinity around the world, and we are building on this strength as we further streamline the hotel shopping experience. Later in Q2, we plan to launch a brand advertising campaign to build user awareness of TripAdvisor as not only a great place to research a hotel, but a great place to find the lowest prices when a user is ready to book."

16:09 EDT Disney says Studio, Parks and Resorts drove quarter - Disney CEO Bob Iger said in today's press release, "Disney delivered another quarter of double-digit EPS growth, driven by the strong performance of our Studio and Parks and Resorts. Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth. We're pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term."

16:08 EDT Disney reports Q2 Media Networks revenue $4.95B vs. $5.79B last year - Reports Q2 Parks and Resorts revenue $4.3B vs. $3.93B last year. Reports Q2 Studio Entertainment revenue $2.03B vs. $2.06B last year. Reports Q2 Consumer Products revenue $1.06B vs. $1.19B last year.

16:06 EDT TripAdvisor reports Q1 average monthly unique visitors reached nearly 390M - Up 14% year-over-year. Average monthly unique hotel shoppers reached nearly 150M, up 9% year-over-year, and TripAdvisor-branded click-based and transaction revenue per hotel shopper increased 2% year-over-year. User reviews and opinions grew 43% year-over-year and reached 500M at March 31, 2017, covering approximately 1,080,000 hotels and accommodations, 820,000 vacation rentals, 4.3M restaurants and 790,000 activities and attractions.

16:04 EDT Array BioPharma announces results from Part 2 of Phase 3 Columbus study - Array BioPharma announced top-line results from Part 2 of the Phase 3 COLUMBUS study evaluating binimetinib, a MEK inhibitor, and encorafenib, a BRAF inhibitor, in patients with BRAF-mutant advanced, unresectable or metastatic melanoma. The primary analysis of Part 2 compared progression free survival, or PFS, in patients treated with binimetinib 45mg twice daily plus encorafenib 300mg daily to patients treated with encorafenib 300mg daily as a single agent. The median PFS for patients treated with COMBO300 was 12.9 months compared to 9.2 months for patients treated with single agent encorafenib, with HR of 0.77.

15:58 EDT Pfizer, Merck KGaA announce FDA approval of Bavencio for bladder cancer - EMD Serono, the biopharmaceutical business of Merck KGaA (MKGAY), Darmstadt, Germany, in the U.S. and Canada, and Pfizer (PFE) announced that the FDA has approved Bavencio Injection for the treatment of patients with locally advanced or metastatic urothelial carcinoma who have disease progression during or following platinum-containing chemotherapy, or who have disease progression within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy. Bavencio was previously granted accelerated approval from the FDA for the treatment of adults and pediatric patients 12 years and older with metastatic Merkel cell carcinoma. These indications are approved under accelerated approval based on tumor response and duration of response. Continued approval for these indications may be contingent upon verification and description of clinical benefit in confirmatory trials.

15:42 EDT Kite Pharma CEO Arie Belldegrun buys 17k shares at $68.57

15:37 EDT Videocon d2h says receives merger approval from Competition Commission of India - Videocon d2h has received the approval from the competition commission of India for the proposed merger of Videocon d2h and Dish TV. The new entity will be called Dish TV Videocon Limited. "We are happy to receive the approval from CCI within our estimated timelines. We look forward to the day when the merger will get fully completed after we get approvals from all concerned authorities," commented Videocon.

14:53 EDT Ocular Therapeutix: OTX-TKI drug well-tolerated in study - Ocular Therapeutix presented data from preclinical studies evaluating the efficacy, tolerability and pharmacokinetics of its sustained release intravitreal tyrosine kinase inhibitor depot using the company's proprietary bioresorbable hydrogel fiber technology at the Association for Research in Vision and Ophthalmology Annual Meeting in Baltimore, MD. Tyrosine kinase inhibitors have shown promise in the treatment of wet age-related macular degeneration. However, attempts to administer topical or systemic TKIs for AMD have been limited by bioavailability and off-target effects. In this study, the OTX-TKI investigational drug product was well-tolerated, and high tissue levels of TKI were maintained for up to 6 months in Dutch belted rabbits. For the first time, the ability to deliver an efficacious dose of TKI to the posterior segment of the eye for the treatment of VEGF-induced retinal leakage was demonstrated for an extended duration of up to six months. "These preclinical studies of OTX-TKI have demonstrated the ability to deliver and maintain high therapeutic tissue levels of TKI in the vitreous humor, retina and choroid," said Jonathan H. Talamo, M.D., Chief Medical Officer of Ocular Therapeutix. "With these positive results from our preclinical studies, we are looking forward to beginning our Phase 1 trial of OTX-TKI later this year."

14:20 EDT Tel-Instrument to pay $2.8M in damages in Kansas Aeroflex case - In the trade secret misappropriation case filed by Aeroflex Wichita, Inc. in 2009 against Tel-Instrument Electronics in Kansas state district court., after a 6-week trial, today the jury rendered its verdict. The jury found no misappropriation of Aeroflex trade secrets but it did rule that the company tortiously interfered with a prospective business opportunity and awarded damages of $1.3M. The jury also ruled that Tel tortiously interfered with Aeroflex's non-disclosure agreements with two former Aeroflex employees and awarded damages of $1.5M. The jury also found that the former Aeroflex employees breached their non-disclosure agreements with Aeroflex. The court will conduct further hearings in the next few weeks which will include a punitive damages claim as well as our existing motion that the Kansas court lacks personal jurisdiction.

13:46 EDT Petrobras ticks up after Bloomberg report on Exxon partnership talks - Shares of Petrobras (PBR) ticked higher after Bloomberg reported that the company last week met with Exxon Mobil (XOM) to discuss a strategic partnership. The deal could include multiple assets in Brazil and overseas, Bloomberg added. Shares of Petrobras are up 13c to $9.36 following the report.

13:31 EDT L3 Technologies board authorizes new $1.5B share repurchase program - L3 Technologies announced that its Board of Directors has authorized a new share repurchase program that allows the company to repurchase up to an additional $1.5B of the company's common stock. This new authorization is effective July 1, 2017, and represents L3's eighth repurchase program.

13:16 EDT lululemon jumps as buyout rumors resurface - Speculation of a takeover has again pushed shares of lululemon (LULU) higher. The stock is rallying after chatter passed through trading desks that the yoga pant maker could be a target for private equity firms, according to trading sources. The company is no stranger to takeover speculation. The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved. Shares of lululemon are up 1.5% to $60.28 and are near their session highs in morning trading. In midday trading, SanDisk is up 49c, or about 1%, to $52.14.

13:06 EDT Eight Democratic senators ask regulators to probe Icahn, Reuters tweets - Reuters tweets that "Eight Democratic senators ask regulators to probe Carl Icahn over biofuels credit market activity. Senators say probe should examine whether Icahn violated 'insider trading, anti-market manipulation laws'." Reference Link

12:25 EDT Engaged Capital: Rent-A-Center letter to holders 'false and misleading' - Engaged Capital, an investment firm specializing in enhancing the value of small and mid-cap North American equities with a 20.5% economic exposure to Rent-A-Center, said that it has "deemed it necessary to address RCII's May 8, 2017 letter to stockholders in connection with the Annual Meeting to be held on June 8, 2017. Engaged Capital believes the company's letter continues a pattern of false and misleading statements about RCII's performance and Engaged Capital's engagement with the company." Engaged said that it was "fiction" that Rent-A-Center's shareholder returns since its IPO represent a compelling reason to vote for the incumbent directors, and that it is a "fact" that RCII has "underperformed its peers and market indices under relevant time periods." The firm also said that Rent-A-Center has a long-tenured, classified board and has recently recombined the roles of chairman and CEO, among other characteristics not consistent with corporate governance best practices. Engaged Capital said it urges shareholders to vote the "BLUE" Engaged Capital proxy card for all three Engaged Capital nominees.

12:08 EDT Emmis to sell KPWR-FM Power 106 in L.A. to Meruelo affiliate for $82.75M - Emmis Communications announced an agreement to sell KPWR-FM Power 106 in Los Angeles to an affiliate of the Meruelo Group for $82.75M, subject to closing adjustments and prorations, pending FCC and other regulatory approvals. A Local Marketing Agreement will begin promptly following the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Emmis purchased KPWR-FM from Century Broadcasting in May 1984. The transaction is expected to close in the back half of 2017.

12:07 EDT Snap adds infinite timer setting on pictures - Snap said in a release on its website, "Today we're making a pretty big change to the way you create and send Snaps. We're reorganizing the layout of our creative tools, adding a Magic Eraser (you'll find this under the Scissor tool), and adding a new setting to the timer: infinity! We've all felt the frustration of not being able to fully enjoy a Snap - even after replaying it - and we wanted to give you the option of allowing the recipient to enjoy your Snap as long as they'd like. After your friend finishes viewing the Snap and taps to close it, it will delete as usual. There's also a new Loop tool for videos so you can decide if your Snap plays once or loops until your friend is ready to tap to the next Snap." Reference Link

12:05 EDT Wellington Management reports 17.21% passive stake in Conyers Park Acquisition

11:47 EDT Synergy Pharmaceuticals: TRULANCE doses met primary endpoint in Phase 3 study - Synergy Pharmaceuticals announced that the company will present late-breaking data from Phase 3 studies evaluating TRULANCE for the treatment of adults with irritable bowel syndrome with constipation at Digestive Disease Week, May 6-9, 2017, in Chicago. TRULANCE is a once-daily tablet approved by the Food and Drug Administration for the treatment of adults with chronic idiopathic constipation and is currently being evaluated for the treatment of adults with IBS-C. The recommended dosage of TRULANCE for CIC is 3 mg taken orally, once daily, with or without food at any time of the day. In two large Phase 3 studies of more than 2,100 total patients with IBS-C, TRULANCE 3 mg and 6 mg doses met the primary endpoint showing statistical significance in the percentage of patients who were Overall Responders compared to placebo during the 12-week treatment period. An Overall Responder, as defined by the U.S. Food and Drug Administration, is a patient who fulfills both greater than or equal to 30% reduction in worst abdominal pain and an increase of greater than or equal to 1 complete spontaneous bowel movement over baseline, in the same week, for at least 50% of the 12 treatment weeks. "The data presented today supports the potential use of TRULANCE in patients with IBS-C, a population who often face a range of physical symptoms," said Ronald Fogel, M.D., Clinical Research Institute of Michigan. "People living with IBS-C often attempt to manage symptoms before seeing a healthcare provider, which can delay appropriate treatment. Yet even after seeking regular care, patients may still be searching for an appropriate option to manage their IBS-C symptoms."

11:28 EDT Under Armour's Kip Fulks to assume role of strategic advisor to company - According to a regulatory filing, effective May 8, 2017, Kip Fulks, the co-founder and chief product officer of Under Armour, is assuming the role of strategic advisor to the company, reporting to Kevin Plank, chairman and CEO. In his new role Fulks will lead key strategic initiatives at the company, leveraging his broad-based experience throughout critical areas of the organization, with an initial focus on improving operational efficiency within the business. Fulks has held numerous leadership positions with the company since its founding, including in product, marketing, sourcing and operations. The existing product and marketing senior management teams will continue to oversee those functions.

11:21 EDT Citron says Wayfair 'should trade back to $45' after earnings - Citron Research, which has previously disclosed a short bias on Wayfair, said that while some others cover, Citron "loves the opportunity to short more here." Reference Link

11:17 EDT Jacobs Engineering says optimistic on highway spending - Comments from Q2 earnings call.

11:13 EDT Cleantech Solutions jumps 90% after YSK1860 acquires ownership interest - Earlier today, YSK1860, an investment holding company, announced that on April 27, it acquired all of the shares of Cleantech Solutions International previously held by Cleantech Solutions' Chairman and CEO, Mr. Jinhua Wu, and his affiliates. Pursuant to the terms of the agreement, YSK1860 purchased 416,249 shares of Cleantech Solutions stock from Mr. Wu and his affiliates for $970,000, or $2.33 per share. Mr. Wu and his affiliates decision to sell their shares was based on personal reasons, and Mr. Wu will retain his positions as Chairman and CEO of Cleantech Solutions going forward. Commenting on the transaction Mr. Wu said, "The decision to sell these shares was personal, and I am pleased to have found an investor with the patience, vision and expertise to support Cleantech Solutions now and in the future. I look forward to staying on as CEO as we work on improving existing operations and exploring other areas with growth potential." Dr. Thomas Chan, director of YSK1860, said "This investment in Cleantech Solutions demonstrates our trust and confidence in the US stock market and the Company for its long-term growth potential and opportunity to participate in the growing Chinese energy market. We also expect to leverage our investment expertise and connections in the technology, media and telecommunications sectors to support Cleantech Solutions in identifying new business opportunities in the future. We are confident in the current management's ability to put this year of transition behind us and focus on improving the long-term business outlook." Shares of Cleantech Solutions are up almost 90% to $6.20 per share in morning trading.

11:05 EDT AbbVie announces 'promising' results from Phase 2 study of upadacitinib - AbbVie announced what the company called "promising results" from CELEST, a Phase 2, randomized, double-blind, placebo-controlled study evaluating upadacitinib, an investigational oral JAK1-selective inhibitor, in adult patients with moderately to severely active Crohn's disease. The Phase 2 study evaluated the safety and efficacy of multiple dosing regimens of upadacitinib after 16 weeks of treatment. Results showed that more patients achieved endoscopic remission with upadacitinib compared to placebo, specifically within the 24 mg twice daily treatment group 22% of patients achieved endoscopic remission with upadacitinib compared to 0% of patients taking placebo. Additionally, significantly more patients receiving upadacitinib 6 mg twice daily achieved clinical remission, or 27%, compared to placebo, at 11%. The positive results support advancement of the program into Phase 3, the company said.

11:00 EDT Pandora falls after CNBC's Faber says sale 'less likely' with KKR pact - Earlier today, CNBC's David Faber commented on last night's announcement that Pandora (P) entered into an agreement for a $150M strategic investment from KKR (KKR). Faber said that he didn't understand the markets optimism and that it makes it "less likely" they'll get a sale. Faber added that Pandora had to raise money as it faces increased competition. Shares of the internet radio company traded up last night in the after hours and opened higher today, but have been falling steadily since the open. Shares of Pandora are down over 8% to $9.52 in morning trading.

10:47 EDT Analysts weigh in on potential Gigamon sale after activists get involved - Shares of Gigamon (GIMO) are shedding some of yesterday's gains after DA Davidson analyst Mark Kelleher downgraded the stock to Neutral on valuation. Commenting on the announcement of Elliott Associates' stake in the company, the analyst said he believes a sale will be high on the list of "strategic alternatives," an opinion shared by his peer at Credit Suisse, who upped his target this morning for Gigamon. ACTIVIST INVESTORS: Yesterday, Elliott Associates reported a new activist stake in Gigamon in a filing with the SEC. With a combined economic exposure in the company of 15.3%, Elliott believes the shares are "significantly undervalued and represent an attractive investment opportunity," adding that they "intend to communicate" with the company's management and board about "a broad range of operational and strategic matters, and intend to encourage the issuer to undertake a strategic review process" including a potential sale of the company or certain of its businesses or assets. Today, Foglamp Capital voiced a similar opinion, saying it also believes Gigamon is significantly undervalued, and that the strategic review process that Elliott Management has recommended should unlock significant value. Foglamp Fund first acquired shares of Gigamon in January 2017, after the company pre-announced that it would miss its fourth quarter guidance, and has since built a significant position in the stock, the firm noted. POTENTIAL SALE, MOVING TO THE SIDELINES: In a research note this morning, DA Davidson's Kelleher downgraded Gigamon to Neutral from Buy, saying that while he continues to believe the company's network visibility products provide a key layer of functionality in support of critical security and network diagnostic applications that should enable Gigamon to return to growth, the recent stock appreciation now seems to anticipate this growth. Following the announced Elliott Associates' 15% stake in the company, the analyst noted that the activist investor indicated that it would seek to work with management to explore all strategic alternatives. A sale of the company will be high on the alternative list, Kelleher contended, adding that possible purchasers would likely be network instrumentation companies such as Viavi (VIAV) or NetScout (NTCT). However, the analyst pointed out that NetScout is still in the process of digesting a fairly large purchase of assets from Danaher (DHR) and is probably not in a position to initiate another large purchase. Meanwhile, Credit Suisse analyst Kulbinder Garcha raised his price target for Gigamon to $43 from $29, while reiterating a Neutral rating on the stock, citing increased shareholder activism and potential for sale of the company after Elliott management disclosed a 15.3% stake in Gigamon in its 13D filings. The analyst noted that Elliott management's activism will lead to two most likely scenarios, namely improved execution, streamlining of the business, or a sale of the company. For the second option, Garcha sees potential interest from security companies, networking vendors and private equity firms. WHAT'S NOTABLE: Yesterday, Atalan's Dave Thomas mentioned Gigamon as a long position at Ira Sohn Conference, which took place in New York, helping the stock extend the gains it was already seeing fueled by Elliott's disclosure. PRICE ACTION: In morning trading, shares of Gigamon have dropped over 1% to $40.70. The stock closed yesterday session with a gain of about 17.5%.

10:27 EDT Marriott says "confident" in view of $1.5B of dispositions by 2018 - Marriott previously forecast over $1.5B dispositions of Starwood-owned assets over 24 months.

10:13 EDT FDA approves GlaxoSmithKline labeling change for Bactroban - A post to the FDA's website indicates that an sNDA for a labeling change for Bactroban submitted by GlaxoSmithKline was approved on May 8. Reference Link

10:06 EDT CyberArk names Marianne Budnik as chief marketing officer - CyberArk announced the appointment of Marianne Budnik as chief marketing officer. Marianne will report to CyberArk CEO Udi Mokady, and be responsible for the global structure, strategy and execution of all aspects of CyberArk's marketing efforts to broaden market reach and drive demand for the company's market-leading privileged account security solutions.

09:45 EDT Timken raises quarterly dividend 4% to 27c per share - The dividend is payable on June 1 to shareholders of record as of May 19.

09:44 EDT Pulmatrix receives U.S. patent for inhaled drug for COPD - Pulmatrix announced that it has received a key patent in the United States for its lead drug candidate, PUR0200, which is intended to treat chronic obstructive pulmonary diseases. "This patent ensures that the product is protected by intellectual property until 2033," said Robert W. Clarke, Ph.D., CEO for Pulmatrix. "It also is further recognition of the potential medical advances offered by our innovative iSPERSE technology for delivering drugs to the lungs more efficiently." The new patent, US 9642798, follows both an earlier patent granted in Japan in 2016 for the composition of PUR0200 and several broader patents that provide protection for Pulmatrix's technology platform and its use to treat a wide variety of diseases.The new patent covers PUR0200, an inhaled drug made by combining Pulmatrix's technology platform with tiotropium bromide. Tiotropium bromide is the active ingredient in Spiriva, a blockbuster inhaled drug with annual global sales of approximately EUR3B in 2016.

09:32 EDT Navios Maritime Partners acquires one Capesize vessel for $31.05M - Navios Maritime Partners announced that it has agreed to acquire one 2011 South Korean-built Capesize vessel of 179,016 dwt for a purchase price of $31.05M. The vessel is expected to be delivered to Navios Partners' owned fleet by June 2017. The vessel is chartered out to a high quality counterparty at a net rate of $11,733 per day until the first quarter of 2018. Based on the existing charter and the current rate environment (Clarksons' 1-year time charter rate for Capesize vessels as of May 5, 2017), the vessel is expected to generate approximately $2.6M of EBITDA for the first year, assuming midpoint of redelivery from charterers, 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. In the first four months of 2017, Navios Partners has agreed to acquire five drybulk vessels (two Panamax and three Capesize vessels) with a combined capacity of approximately 690,000 dwt for a total price of approximately $114M.

09:24 EDT EnSync terminates supply agreement with SPI Solar - EnSync reported that due to the failure of SPI Solar to meet its purchase obligations under its supply agreement with the company, the company has terminated the Supply Agreement. Pursuant to the Supply Agreement the company agreed to sell and SPI agreed to purchase energy management system solutions for solar projects and related services having an aggregated total of at least 5 megawatts of energy storage rated power output within the first year of the Supply Agreement, 15 megawatts within the first two years, 25 megawatts within the first three years, and 40 megawatts within the first four years of the Supply Agreement. SPI never made any purchases under the Supply Agreement. Following the termination of the Supply Agreement, it will no longer be possible for SPI to satisfy the conditions that would have enabled it to convert its shares of the Company's Series C Convertible Preferred Stock into common stock. Similarly, it will no longer be possible for the warrant to purchase shares of common stock acquired by SPI to become exercisable.

09:19 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Valeant Pharmaceuticals (VRX), up 14.2%... Camtek (CAMT), up 11.7%... Fabrinet (FN), up 11.4%... Nova Measuring (NVMI), up 11.7%... Marriott (MAR), up 5.6%... Pandora (P), up just under 1%. ALSO HIGHER: Recro Pharma (REPH), up 7.3% after announcing top-line results from Phase III study of meloxicam. DOWN AFTER EARNINGS: Meet Group (MEET), down 8.9%... Chicago Bridge & Iron (CBI), down 5.4%... Hertz (HTZ), down 16%... Achaogen (AKAO), down 2.1%... Discovery Communications (DISCA), down 4%... Nevro (NVRO), down 7.8%.

09:13 EDT Whitestone REIT acquires Eldorado Plaza shopping Center in Texas - Whitestone REIT announced the acquisition of Eldorado Plaza, a 221,577 square foot, Trader Joe's anchored shopping center in McKinney, Texas. The center is 97% leased and located on I-75, the primary north arterial route from Dallas, at the north end of the Dallas "Platinum Corridor."

09:12 EDT Marrone Bio and Agri-Star sign agreement to distribute MBI bioinsecticides - Agri-Star, a company of Albaugh group, and Marrone Bio Innovations announced the companies have signed an exclusive agreement to distribute and market two MBI bioinsecticides, GRANDEVO and VENERATE in Mexico. These advanced broad-spectrum bioinsecticides offer protection against chewing and sucking insects and mites including thrips, whiteflies, Asian citrus psyllid, armyworms and other pest caterpillars, Lygus bug, mealybugs and soil-inhabiting pests.

09:08 EDT PTC and EY form strategic alliance to promote IoT business models - PTC and EY have formed a strategic alliance to facilitate industry innovation and promote adoption of Internet of Things, or IoT, business models using the ThingWorx industrial IoT platform from PTC. With this alliance, PTC and EY will co-create IoT solutions, based on the ThingWorx platform, to enable manufacturers to improve end-to-end product lifecycle management, including such functions as requirements management, product design, production, operations, and service. These solutions are expected to be offered to a wide range of industries.

09:06 EDT Calgon Carbon 'cautiously optimistic' about recovery in industrial sector demand - Sees new business contributing approximately $100M in FY17 sales. Sees FY17 operating income improving to approximately $55M from $24.5M in FY16.

09:00 EDT Silver Bay Realty trading halted, news dissemination

08:58 EDT Discovery: Advertising market feels 'steady as she goes' - Says scatter market up mid to high teens over upfront.

08:56 EDT Discovery backs FY constant currency FCF view of up at least double digits - Still sees constant currency free cash flow to grow at least double digits. Still sees constant currency adjusted EPS, free cash flow CAGRs for 2015-2018 to grow "at least low teens." Expects FX to have negative 9c-11c impact on FY17 adjusted EPS. Discovery (DISCA) CEO David Zaslav says GO apps now available to 80% of U.S. households, expects Go to be avilable on 115M connected devices by the end of the year, including PS4, Apple TV, Xbox. Says Eurosport Player "off to a fantastic start" this year, with YTD gross subs up over 70% and total sub base up almost 50%. Says pursuing OTT, direct to consumer products in deep niche verticals. Believe sniche verticals have strong appeals with "superfans." Says views Snapchat (SNAP) as an "important new way to reach younger viewers," will create premium Snapchat content. Says new CFO Gunnar Wiedenfels "has hit the ground running." Wiedenfels says still sees FY tax rate 20%. Still sees solar investments having positive impact on FY net income. Sees Q2 U.S. ad growth up low single digits on underlying basis, says pricing "healthy." Still sees FY17 distribution revenue growth in mid single digit range, assuming "relatively consistent" subscriber trends. Sees Q2 international ad sales up in low to mid single digit range. Says "committed" to maintaining investment grade rating. Sees $50M in additional solar investments in Q2.

08:50 EDT Core-Mark sees FY17 non-GAAP EPS $1.42-$1.49, consensus $1.52 - Sees FY17 revenue $15.2B-$15.5B, consensus $15.42B. Sees FY17 adjusted EBITDA $166.0M-$173.0M. Sees FY17 diluted EPS $1.18-$1.25. Key assumptions remain unchanged and include $18M of LIFO expense, a 37.5% tax rate and 46.5M fully diluted shares outstanding. In addition, these projections include cigarette inventory holding gains, but do not include any other significant holding gains, nor any pension settlement expenses. Capital expenditure estimates for 2017 are expected to be approximately $50M, which will be utilized for expansion projects, including expenditures associated with our supply agreement with Walmart and maintenance investments.

08:45 EDT DST Systems announces two-for-one stock split - DST Systems announced that its board also approved a two-for-one split of DST's common stock. The stock split will be a stock dividend payable on June 8 to shareholders of record at the close of business May 26. Upon completion of the split, the outstanding shares of DST's common stock will increase to approximately 61,763,302 based on the outstanding shares as of April 28. The company expects its common stock to begin trading at the split-adjusted price on June 9.

08:44 EDT DST Systems announces 3% increase in dividend to 36c per share - DST Systems announced that its board of directors declared a quarterly cash dividend on the company's outstanding common stock of 36c per share, on a pre-split basis, payable on June 9 to shareholders of record at the close of business on May 26. The dividend represents an approximate 3% increase over the previous pre-split quarterly rate of 35c per share.

08:43 EDT Cerus announces additional $46.6M options exercised under BARDA contract - Cerus announced that additional options totaling $46.6M have been exercised under its contract with the Biomedical Advanced Research and Development Authority, or BARDA, part of the U.S. Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response. In addition to funding the proposed Phase III ReCePI study, the newly exercised options include support for a clinical study in the UK to evaluate the efficacy and safety of INTERCEPT red blood cells in patients undergoing exchange transfusion for sickle cell disease. This tranche of funding also allocates funds toward the development of the INTERCEPT RBC System design to enable expanded use and manufacturing scale up of key components. The total value of the full five-year contract is up to $186M, subject to funding of additional contract options, and provides non-dilutive funding to support a comprehensive development program for the pathogen reduction of RBC components in the U.S. Funding allocated to date, including the latest tranche, totals $88.4M.

08:37 EDT S&W Seed enters alfalfa seed development agreement with Generic Genetics - S&W Seed announced it has entered into an agreement with Generic Genetics, which is led by renowned biotech trait developer David Stalker, to develop novel alfalfa seed varieties containing select biotechnology traits. As a number of unique technologies come off patent in the coming years, S&W will look to leverage Generic Genetics' knowledge of the patent landscape and scientific expertise to create varieties specific to S&W, utilizing current transgenic traits coupled with other trait technologies proprietary to Generic Genetics.

08:34 EDT Foglamp Capital urges Gigamon to explore strategic alternatives - Foglamp Capital believes Gigamon is significantly undervalued, and that the strategic review process that Elliott Management has recommended should unlock significant value. Foglamp Fund, LP first acquired shares of Gigamon in January 2017, after the company pre-announced that it would miss its Q4 guidance. Foglamp has since built a significant position in the stock, and as of May 5, 2017, GIMO stock comprised 14.9% of Foglamp Fund, LP's unaudited NAV. Foglamp has conducted significant research to ascertain both the quality of the product and the strategic value of Gigamon's assets to potential acquirers. Foglamp interviewed a broad array of customers across the telecom, cloud service provider, financial services, consumer products, and professional services verticals. Foglamp also interviewed distributors and network engineers that design networks for Fortune 100 companies. "We learned that Gigamon has an outstanding technological reputation and that its products are deeply integrated into the network systems of large enterprises. Invariably, CIO's and network engineers said it was inconceivable to replace Gigamon's systems with that of a competitor and considered Gigamon's systems an important part of their long-term network roadmap. There was a broad perception that deploying Gigamon's systems was saving its customers money and making their network applications run better. Many customers, several distributors and certain competitors noted that they were surprised that Gigamon was still a standalone company and that they had not already been acquired by a larger networking company. We view Gigamon today as a significantly undervalued business, in large part because the existing corporate structure is impeding shareholder returns."

08:31 EDT Omnicell announces agreement with McKesson Canada - Omnicell (OMCL) announced it has reached an agreement with McKesson Canada (MCK) under which direct sales of Omnicell's former Aesynt products will transition from McKesson Canada back to Omnicell. These products include central pharmacy robotics, AcuDose-Rx automated dispensing cabinets and analytics. McKesson Canada will transition service of these products back to Omnicell as current customer support contracts expire.

08:29 EDT Wayfair sees gross margin approximately 23% in Q2, FY17

08:27 EDT Wayfair seeing strength in U.S. business continuing in Q2 - Says experienced continued strong repeat business in Q1. Comments from Q1 earnings conference call.

08:25 EDT Abeona receives approval to begin Phase 1/2 for ABO-102 program in Australia - Abeona Therapeutics announced Australian regulatory approval to initiate a Phase 1/2 for the ABO-102 gene therapy program for patients with Sanfilippo syndrome type A. The clinical study was approved by the Australian Government Department of Health Therapeutic Goods Administration and the Company is conducting the Phase 1/2 clinical study at Adelaide Women's and Children's Hospital, Australia. The ongoing Phase 1/2 clinical trial, which has received FastTrack designation, Orphan Product Designation, and Rare Pediatric Disease designation by the FDA, is designed to evaluate safety and efficacy of ABO-102 in patients with MPS IIIA.

08:20 EDT Global Partners sees FY17 EBITDA $190M-$220M - The company said, "With respect to 2017 net income and net cash from operating activities, the most comparable financial measures to EBITDA calculated in accordance with GAAP, the Partnership is unable to project either metric without unreasonable effort and for the following reasons: 1) The Partnership is unable to project net income because this metric includes the impact of certain non-cash items, most notably those resulting from the divestiture program of non-strategic sites, which the Partnership is unable to project with any reasonable degree of accuracy; and 2) The Partnership is unable to project net cash from operating activities because this metric includes the impact of changes in commodity prices, including their impact on inventory volume and value, receivables, payables and derivatives, which the Partnership is unable to project with any reasonable degree of accuracy. Please see the "Use of Non-GAAP Financial Measures" section of this news release. For FY17, Global continues to expect to generate EBITDA of $190M-$220M, which guidance excludes the gain or loss on the sale and disposition of assets and any impairment charges. The Partnership's guidance and future performance are based on assumptions regarding market conditions such as the crude oil market, business cycles, demand for petroleum products and renewable fuels, utilization of assets and facilities, weather, credit markets, the regulatory and permitting environment and the forward product pricing curve, which could influence quarterly financial results."

08:14 EDT Aeglea BioTherapeutics reports cash and equivalents $57.9M as of March 31 - At March 31 Aeglea had available cash, cash equivalents and marketable securities of $57.9M. Based on Aeglea's current operating plan, management believes that it has sufficient capital resources to fund anticipated operations through March 31, 2019.

08:12 EDT Valeant says continues to make progress on legacy legal matters - Valeant CEO Joe Papa said on the company's Q1 call that the company continues to make progress in resolving its legacy legal matters, noting that Valeant settled a sales class action litigation last quarter, and separately, has increased its legal reserve by $76M this quarter.

08:11 EDT Wendy's, Snapchat announce charitable partnership - Snapchat (SNAP) users can unlock an exclusive Snapchat filter at Wendy's (WEN) to support children in foster care. This program is part of Wendy's continued support of the Dave Thomas Foundation for Adoption, or DTFA, in its mission to find forever homes for children in foster care. Wendy's customers who purchase a beverage will find an exclusive Snapcode on their drink cups, which can be scanned to unlock a custom Snapchat filter to enhance the moment. Then they can use the special filter to send that photo or video to a friend or post it to their Snapchat Story.

08:11 EDT WPP's Possible acquires Amazon-focused consultancy Marketplace Ignition - WPP (WPPGY) announces that its wholly owned global digital agency POSSIBLE has acquired Marketplace Ignition, LLC, an e-commerce agency focused on advising clients on how to grow their business on Amazon (AMZN) and other online marketplaces. Marketplace Ignition works with more than 400 brands, representing more than 2 million unique products and more than $2B in annual retail sales, to establish and grow their e-commerce presence on Amazon. Clients include Hallmark Cards, Lifetime Brands, Inc. and Reynolds Consumer Products. The company employs approximately 35 people and is based in Atlanta with an office in Seattle. It was founded in 2011.

08:07 EDT Valeant up 14% after raising adjusted EBITDA view - Valeant shares are up $1.39, or 14.3%, to $11.10 in pre-market trading as the company's earnings call has just started.

08:05 EDT Alaska Air reports Air Group April traffic up 7.4% - Air Group's acquisition of Virgin America took place on Dec. 14, 2016. Operational results below include Virgin America results from pre-acquisition periods for comparison. On a combined basis for all operations, Air Group reported a 7.8 percent increase in traffic on a 4.6 percent increase in capacity compared to April 2016. Load factor increased 2.5 points to 86.6 percent. Alaska reported an 8.9 percent increase in traffic on a 6.1 percent increase in capacity compared to April 2016. Load factor increased 2.3 points to 87.2 percent. Alaska also reported 81.6 percent of its flights arrived on time in April 2017, compared to 89.4 percent reported in April 2016. Virgin America traffic increased 4.5 percent on a 0.8 percent increase in capacity compared to April 2016. Load factor increased 3.1 points to 87.2 percent. Virgin America also reported 64.6 percent of its flights arrived on time in April 2017, compared to 76.4 percent in April 2016. Regional traffic increased 7.7 percent on a 4.1 percent increase in capacity compared to April 2016. Load factor increased 2.7 points to 79.7 percent. Regional also reported 86.6 percent of its flights arrived on time in April 2017, compared to 89.9 percent in April 2016.

08:04 EDT American Airlines reports April traffic up 3.1% y/y - American Airlines Group's total revenue passenger miles were a record 18.6 billion, up 3.1 percent versus April 2016. Total capacity was 22.6 billion available seat miles, up 0.8 percent versus April 2016. Total passenger load factor was 82.2 percent, up 1.8 percentage points versus April 2016.

08:02 EDT Tractor Supply raises quarterly dividend to 27c per share from 24c per share - Tractor Supply announced that its board increased the company's quarterly cash dividend 12.5% to 27c per share of the company's common stock, up from the previous 24c per share. The dividend will be paid on June 6, to stockholders of record as of the close of business on May 22.

07:59 EDT Zynerba reports cash and equivalents $77.5M as of March 31 - As of March 31 cash and cash equivalents were $77.5M, compared to $31.0M as of December 31, 2016. The company believes that the current cash position of $77.5M is sufficient to develop five Phase 3-ready programs and, assuming support from the FDA to move forward, initiate at least one Phase 3 program and fund operations and capital requirements into 2019.

07:43 EDT Energy Fuels announces commitment of Eshleman, Kirkwood to serve on board - Energy Fuels announced that two representatives of large shareholders of the company's stock have expressed an interest in joining the company's board of directors. As these two individuals expressed their desire to join the board after publication of the company's current proxy statement for its upcoming annual general meeting to be held on May 17 these individuals were not included in the proxy statement and, as a result, will not be nominated for election by the shareholders at the AGM. Rather, they will be considered for appointment to the board following the AGM, pursuant to the board's power to increase the size of the board by up to one-third in number between annual meetings of shareholders. Benjamin Eshleman became a shareholder of Energy Fuels through the company's acquisition of Mestena Uranium, now Alta Mesa, in June 2016. Eshleman, along with the other former owners of Alta Mesa, owns a total of 4.3M common shares, or approximately 6.1%, of Energy Fuels. Robert Kirkwood is principal of the Kirkwood Companies, including Kirkwood Oil and Gas, All Energy and United Nuclear. Kirkwood, through his affiliated companies, became a shareholder of the company by transferring an 81% interest in the Arkose joint venture to the company in 2008 for cash and shares. Kirkwood and his affiliated companies and associates hold 1.1M, or approximately 1.6%, of the common shares of Energy Fuels, and a 19% interest in the Arkose joint venture. Upon the appointment of Eshleman and Kirkwood, the board and management of Energy Fuels will hold or represent approximately 11.7% of the issued and outstanding shares of the company.

07:40 EDT Novelion Therapeutics to announce expansion plans for metreleptin this summer - "We plan to unveil our strategy to maximize the clinical and commercial value of metreleptin across a broad range of low-leptin mediated metabolic diseases this summer. Following a very productive meeting with the U.S. Food and Drug Administration, we believe we have delineated a clear regulatory path for the clinical development of our differentiated drug candidate for rare ophthalmic diseases, zuretinol, another important asset in our pipeline." Novelion plans to focus development efforts on a pediatric population and believes zuretinol will qualify for a pediatric priority review voucher. The Company estimates that if approved for the treatment of inherited retinol disease caused by underlying mutations in retinal pigment epithelium protein 65 and lecithin retinol acyltransferase genes, zuretinol could achieve approximately $200 million in peak sales.

07:36 EDT Recro Pharma announces top-line results from Phase III study of meloxicam - Recro Pharma announced successful top-line results from its Phase III safety study evaluating intravenous, or IV, meloxicam following major surgery. The primary objective of the study was to evaluate the safety and tolerability of IV meloxicam 30mg vs. placebo through Day 28 following treatment. The study demonstrated that the adverse event profile of IV meloxicam 30mg was consistent with previously completed studies, and was similar to placebo. Recro Pharma believes the results of this 722 patient Phase III safety study support the safety profile of IV meloxicam 30mg and completes the last clinical requirement of the full efficacy and safety program for a New Drug Application (NDA) for IV meloxicam 30mg as a novel, non-opioid for management of moderate to severe pain.

07:31 EDT Antares Pharma reports cash and equivalents $23.7M as of March 31 - At March 31 cash and cash equivalents totaled $23.7M compared to $27.7M at December 31, 2016.

07:28 EDT BioTime announces new 'positive' data from OpRegen trial in dry-AMD - BioTime announced new data from the Phase I/IIa clinical trial of OpRegen in the advanced form of dry age-related macular degeneration. The interim data were presented on May 8, 2017 at the Annual Meeting of the Association for Research in Vision and Ophthalmology in Baltimore, Maryland by Eyal Banin, M.D., Ph.D. The presentation at ARVO reported new clinical trial data with two patients that were treated in cohort 2, where they received a dose of 200,000 cells. Imaging analysis suggests the transplanted OpRegen cells remained in place in an area of the scar that was completely depleted of retinal pigment epithelium because of the advanced stages of the disease. Cell engraftment occurred in four of the five patients treated thus far. There was also possible evidence of a biological response with some areas appearing to show structural improvement without any signs of retinal edema, a fluid build-up that can further compromise vision. Best corrected visual acuity remained stable in all treated eyes and importantly showed no signs of deterioration, which could be expected if no treatment was given. The data also continues to show that the procedure is well tolerated in all patients, including those patients with follow-up for more than one year after treatment.

07:13 EDT Check-Cap, GE announce achievement of development milestone in collaboration - Check-Cap (CHEK) and GE Healthcare (GE) announced the companies have successfully achieved the initial milestone in their ongoing collaboration to develop high-volume, X-ray capsule manufacturing capabilities. Specifically, X-ray sources produced at GE Healthcare using a customized manufacturing method passed all tests required to ensure compliance with C-Scan system specifications.

07:09 EDT Valeant says reduced outstanding debt by $1.3B in Q1 - The company said: "In the first quarter of 2017, we successfully executed a debt refinancing that extended our debt maturity profile, increased our fixed vs. floating rate debt and increased flexibility under our debt covenants. During the quarter, the Company reduced its outstanding debt by $1.3 billion. These transactions and debt payments have had the effect of lowering our cash requirements for principal debt payments over the remainder of 2017 through 2020 by an aggregate $6.32B, providing us with a much improved liquidity profile during this timeframe and greater flexibility to execute our business plans. In April 2017, we announced that we reduced our term loans under our Senior Secured Credit Facilities by approximately an additional $220 million. Valeant's corporate credit ratings remained unchanged during the first quarter of 2017. The Company's availability under the Revolving Credit Facility was approximately $925 million at March 31."

07:07 EDT Valeant CEO says Q1 performance shows company 'delivering on commitments' - "Our first quarter performance demonstrates that we are delivering on our commitments. We met our internal expectations, and we are continuing to make progress on our key initiatives, focus on the turnaround of our core businesses and improve internal operating efficiencies. Our divestiture efforts and cash flow generation have led to a $3.6B reduction in total debt to date, since the end of the first quarter of 2016, and our successful debt refinancing provides us with a more comfortable maturity profile," said CEO Joseph Papa.

06:59 EDT Insys Therapeutics repots cash and equivalents $218.5M as of March 31 - The Company had $218.5M in cash, cash equivalents, short-term and long-term investments, no debt, and $267.8M in stockholders' equity as of March 31.

06:57 EDT Accenture awarded SEC blanket purchase agreement for ServiceNow solutions - The U.S. SEC has awarded Accenture Federal Services a five-year blanket purchase agreement to establish a one-stop shop for SEC capabilities on the ServiceNow cloud computing platform. Under the contract, Accenture (NYSE:ACN) will establish, develop and maintain a service delivery and support structure for the SEC that provides end-to-end enterprise automation services using the ServiceNow platform - a cloud-based workflow and automation system. Accenture is one of ServiceNow's largest global partners and has been named the ServiceNow U.S. Federal Systems Integrator of the Year three times in the last five years. Accenture has teamed with Bravium Consulting to deliver ServiceNow at the SEC. Through Accenture, the SEC will have access to business domain specialists and extensive experience implementing business process re-engineering and customer relationship management specific to ServiceNow solutions. Accenture will provide governance across the lifecycle of each service initiative - from evaluating projects to providing guidelines, standards and best practices for application design and implementation. When implemented, the new services are expected to provide the SEC with significant improvements in areas such as organizational effectiveness, cost savings and service quality.

06:53 EDT Office Depot sees over $250M in annual cost savings benefits by end of 2018 - The company expects to be substantially complete with the OfficeMax integration and realize the majority of the remaining synergy benefits by the end of 2017. Merger integration expenses are estimated to total approximately $45 million in 2017 with approximately $25 million in capital expenditures. Office Depot announced a number of cost saving programs in 2016 and expects to deliver over $250 million in annual benefits by the end of 2018. About half of these benefits are anticipated to be realized in 2017. In addition, the company estimates it will incur up to approximately $125 million in costs to implement the cost saving programs. With more than one-third of these costs already incurred in 2016, the company anticipates the majority of the remaining costs to be incurred in 2017.

06:48 EDT Boston Scientific receives FDA approval for Resonate family of ICD, CRT-D - Boston Scientific has received FDA approval for the Resonate family of implantable cardioverter defibrillator, or ICD, and cardiac resynchronization therapy defibrillator, or CRT-D, systems. The approval includes new features in the Resonate devices including SmartCRT technology with Multisite Pacing capability for multi-electrode pacing, and compatibility with the HeartLogic Heart Failure Diagnostic Service to help physicians improve heart failure, or HF, management.

06:46 EDT US Foods reports Q1 total case volume up 4.3% - Q1 independent restaurant case volume increased 4.0%.

06:41 EDT Herc Rentals sees FY17 adjusted EBITDA $550M-$590M - Sees FY17 net fleet capital expenditures are expected to be in the range of $275M-$325M.

06:38 EDT Zebra Technologies sees FY17 adjusted EBITDA 18%-19% - The company now expects low to mid-single digit organic net sales growth for the FY 17 which is improved from our prior outlook, and excludes a 3% adverse impact from wireless LAN business sales, as well as an estimated 1% adverse impact from foreign currency translation. The company expects organic net sales growth to moderate through 2017 considering year-over-year comparisons. For the FY17 the company expects to make debt principal payments totaling at least $300M.

06:27 EDT JELD-WEN Holding raises FY17 adjusted EBITDA view to $440M-$460M - Previous FY17 adjusted EBITDA view was $435M-$455M. For full year 2017 compared to full year 2016, the company continues to expect an increase in net revenues of 1.5% to 3.5%. The increase in net revenues is expected to be driven by core growth and a small incremental carryover from 2016 acquisitions, partially offset by unfavorable foreign exchange impact. Sees FY17 capital expenditures $90M-$100M. "The fundamental demand drivers in the majority of our diverse global end markets continue to look positive for the remainder of 2017," said the company. "We are confident in delivering our 2017 plan as we focus on profitable organic growth and realize operational improvements from the implementation of the JELD-WEN Excellence Model. We also continue to invest for the future through new product development, sales force effectiveness tools, and targeted advertising as well as pursuing a healthy pipeline of acquisition opportunities."

06:18 EDT Tesco expects rig count to grow in Q2 - The company says, "We anticipate U.S. rig count to continue to increase during the Q2 but flatten in the second half of 2017. In addition, international and offshore markets are not expected to show much improvement in 2017. We have started to see some opportunities to increase pricing in U.S. land, however persistent overcapacity will likely limit our pricing power throughout 2017. We are also facing risks that cost escalation, which includes labor inflation and shortages, incremental logistics and equipment reactivation costs, will exceed price increases in the short term."

06:12 EDT STERIS announces quarterly interim dividend of 28c per share - The dividend is payable June 29 to shareholders of record at the close of business on June 7.

06:06 EDT Johnson & Johnson says received subpoena from Attorney's Office in MA - In a regulatory filing, Johnson & Johnson said that in April, it received a subpoena from the United States Attorney for the District of Massachusetts seeking documents broadly relating to pharmaceutical copayment support programs for OLYSIO, SIMPONI and STELARA. The subpoena also seeks documents relating to Average Manufacturer Price and Best Price reporting to the Center for Medicare and Medicaid Services related to those products, as well as rebate payments to state Medicaid agencies.

06:03 EDT Target to test next-day 'essentials' delivery service in Minneapolis area - Target plans to test a next-day home delivery service called Target Restock in the Minneapolis area, the company said in a blog post. The company comments, "We created Target Restock to save busy guests time, and make it easier than ever to get household essentials delivered quickly. This is another example of how Target is connecting stores and digital to create new services for guests. Here's how it will work: Once the pilot is live this summer, Minneapolis area guests that have a REDcard will be eligible to visit a dedicated online experience to access thousands of household essentials. From there, guests will be able to fill a box with multiple items and have their orders shipped to their homes for a low, flat fee. The items will be packaged at a nearby store, allowing us to fulfill orders placed before 1:30 p.m. by the next business day. We're busy fine-tuning the experience and testing various enhancements - so stay tuned for more information once the pilot launches this summer." Reference Link

05:58 EDT Allot Communications reports Q1 EPS (11c), consensus (3c) - Reports Q1 revenue $18.4M, consensus $19.52M.

05:35 EDT Oracle, Government of Jharkhand sign MoU - The Government of Jharkhand and Oracle signed a Memorandum of Understanding, or MoU, intended to improve citizen services and make Jharkhand an attractive destination for start-ups. The MoU was signed by Shri Sunil Kr Barnwal, Secretary, IT & e-Governance, of Jharkhand and Shri Shailender Kumar, Regional Managing Director of Oracle India, in the presence of the Honourable Chief Minister of Jharkhand, Shri Raghubar Das and Oracle CEO Safra Catz at Oracle OpenWorld in New Delhi. Oracle will offer its support to the state through its vast portfolio of technology solutions, including Oracle Cloud - which are already powering a large number of governments globally. These solutions cater to the growing requirements and expectations of citizens, businesses and government departments for smarter, transparent and efficient governance within the state of Jharkhand. As part of the MoU, the Government of Jharkhand and Oracle will jointly explore and identify areas in which Oracle's latest cloud-based technologies can be used to deliver improved citizen services and to address the state's citizen and business requirements.