Stockwinners Market Radar for May 25, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:41 EDT Stanford study says fitness trackers accurate on heart rate, not calories - Stanford Medicine published results from a study Wednesday on the accuracy of consumer-grade fitness trackers. The report stated, "An evaluation of seven devices in a diverse group of 60 volunteers showed that six of the devices measured heart rate with an error rate of less than 5%. The team evaluated the Apple (AAPL) Watch, Basis Peak, Fitbit (FIT) Surge, Microsoft (MSFT) Band, Mio Alpha 2, PulseOn and the Samsung (SSNLF) Gear S2... In contrast, none of the seven devices measured energy expenditure accurately, the study found. Even the most accurate device was off by an average of 27%. And the least accurate was off by 93%." Other publicly traded companies in the space include Garmin (GRMN). Reference Link

18:39 EDT Kinder says makes final investment decision on Trans Mountain expansion - Kinder Morgan announced a final investment decision for the Trans Mountain Expansion Project in conjunction with its indirect subsidiary, Kinder Morgan Canada, pricing its initial public offering at C$17.00 per share for total gross proceeds of C$1.75B. The final investment decision is conditioned on the successful completion of the IPO, which is expected to take place not later than May 31. "Upon the completion of the IPO, we will have secured satisfactory financing for the Trans Mountain Expansion Project. We are excited to be moving forward on this tremendous project... Our execution planning is complete, our approvals are in hand, and we are now ready to commence construction activities this fall... The final investment decision was contingent on securing financing. While the political climate was not ideal, the process proceeded at this time because the Trans Mountain Expansion Project financing contingency period, as specified in shipper agreements, concludes at the end of May," the company said. Construction on the project is expected to begin in September 2017 with completion expected in December 2019. KMI added that it now expects to end the year at approximately 5.2X debt to EBITDA versus its budget of 5.4X and remains on track to announce revised dividend guidance for 2018 in the latter part of this year. Upon closing of the offering, KMI will own an approximately 70% interest in the business.

17:46 EDT SiteOne Landscape acquires Evergreen Partners - SiteOne Landscape Supply announced the acquisition of Evergreen Partners. "Started in 2007, Evergreen has two locations in Raleigh, NC and Myrtle Beach, SC and is a leader in the distribution of nursery material. The acquisition of Evergreen Partners allows SiteOne to expand its existing Raleigh, NC footprint and provides SiteOne with its first Nursery wholesale location in the Myrtle Beach, SC area," the company said.

17:43 EDT Lionsgate sees low to mid teens adjusted OIBDA growth, warns of near-term spend - "We're projecting adjusted OIBDA growth in the low to mid teens over the next few years, with similar or greater growth in adjusted EPS and free cash flow... In FY18, we're expecting to invest another $300M in content, bringing our annual spend to approximately $1.8B as we previously mentioned on investor day. This incremental spend, which is factored into our guidance, is primarily weighted to media networks and TV. That investment will likely lead to growth at the lower end of our guidance range in the near term, with growth rates accelerating over time. With regards to FY18, we would expect the quarterly cadence of adjusted OIBDA to largely follow a similar pattern to FY17," Lionsgate executives said during the company's Q4 earnings conference call.

17:36 EDT On The Fly: After Hours Movers - UP AFTER EARNINGS: Nutanix (NTNX), up 13.1%... Deckers Brands (DECK), up 12.9%... Ulta Beauty (ULTA), up 4.5%... 8x8, Inc. (EGHT), up 4.2%... Veeva (VEEV), up 3.6%... Costco (COST), up 1.7%. ALSO HIGHER: Big Lots (BIG), up 3.3% after its rival Costco reported better than expected quarterly results. Big Lots reports results tomorrow before the market opens... Tegna (TGNA), up 1.2% after Dealreporter said that it may be a takeover target of Nexstar (NXST). DOWN AFTER EARNINGS: Zoe's Kitchen (ZOES), down 10.5%... GameStop (GME), down 7.9%... Splunk (SPLK), down 5.5%... Marvell (MRVL), down 1.5%. ALSO LOWER: Trillum (TRIL), down 6.4% after it filed to sell common stock and convertible first preferred shares... Targa Resources (TRGP), down 3.6% after it filed to sell 17M shares of common stock... Aerie Pharmaceuticals (AERI), down 0.5% after it filed to sell $50M in common stock... Merrimack Pharmaceuticals (MACK), down 0.3% after it announced the resignation of its chief financial officer Yasir Al-Wakeel.

17:32 EDT AstraZeneca recalls one lot of Brilinta sample bottles - AstraZeneca announced that the company is notifying physicians and consumers that it is voluntarily recalling one lot of professional sample bottles containing eight tablets of Brilinta 90mg tablets as a precautionary measure. This voluntary recall follows a report that a professional sample bottle containing eight tablets of Brilinta 90mg also contained another medicine called Zurampic 200mg tablets which is also manufactured by AstraZeneca. This precautionary measure is limited to one lot of professional sample bottles distributed to physicians in the U.S. between March and April.

17:19 EDT Wingstop CFO Mravle to resign effective June 23, 2017 - According to a regulatory filing, Wingstop's Michael F. Mravle informed the company of his his intention to resign his position as CFO, effective June 23, 2017, to pursue a role in a privately held company. Mravle will be working with the company up to his departure date to help ensure continuity and an effective transition. At this time, the company has not announced a successor.

17:14 EDT GameStop: Red Dead 2 delay, Switch demand keep company at initial FY17 guidance - GameStop (GME) says Q2 results will be driven by demand for Nintendo (NTDOY) Switch. Says Red Dead Redemption 2 (TTWO) being delayed as well as Switch demand keep company at initial FY17 guidance range.

17:09 EDT Richardson Electronics sells PACS display businss to Double Black Imaging - Richardson Electronics announced the sale of its picture archiving and communication systems Display business, including the Image Systems brand, to Double Black Imaging.

17:07 EDT Costco reports Q3 comparable sales up 5% - Reports Q3 comparable sales growth adjusted for fuel and foreign exchange 5%.

17:03 EDT Fiesta Restaurant rejects 'misleading' claims by activist group JCP - Fiesta Restaurant Group, parent of the Pollo Tropical and Taco Cabana fast casual restaurant brands, announced its Board "clarified misrepresentations and falsehoods" in an investor presentation filed by a group of several activist hedge funds led by JCP Investment Management, collectively referenced herein as Pappas Group or JCP. "The Pappas Group has filed a presentation and a press release with regards to Fiesta that are rife with mistakes, misleading comparisons, distorted analyses, material omissions and alternative facts. The Fiesta Board believes that these communications destroy James Pappas' and John Morlock's credibility as agents for change and casts doubt on their level of insight into the restaurant industry. We believe their presentation and press release are designed to divert attention away from the damaging facts about their troublesome backgrounds and track records. While the Board looks forward to continuing to directly engage with shareholders, it believes it is necessary to highlight at least some of the major distortions embedded in JCP's presentation and press release... JCP's last minute 'plan' is what you would expect from a novice investment banker: a handful of amateurish and shallow back-of-the envelope calculations on an Excel spread sheet. This 'plan' is completely detached from the important nuances and realities of the Company's operations and the inner-workings of a real public company, and lacks analytical rigor. It is a Hail Mary thrown in the context of a failing campaign," the company said.

16:57 EDT Lion Biotechnologies announces resignation of CFO Gregory Schiffman - Lion Biotechnologies announced that CFO Gregory Schiffman has decided to leave the company for personal reasons, preventing him from commuting from his residence in Portland, OR to the company's corporate headquarters in San Carlos, CA. Schiffman will remain in his current role until June 22. A search for a new CFO is underway through a recruitment agency.

16:51 EDT Sypris Electronics achieves ISO 13485 registration from NSF-ISR - Sypris Electronics, a subsidiary of Sypris Solutions, announced that it has achieved ISO 13485 re-certification from NSF-ISR, a division of the global public health organization NSF International. "By achieving ISO 13485 registration, Sypris Electronics is once again demonstrating its commitment to quality and safety," said Andy Weinbach, Global Managing Director, NSF-ISR.

16:40 EDT General Cable extends revolver to 2022 - General Cable has amended its existing $700M asset-based revolving credit facility, extending its maturity date to 2022. The senior secured credit facility provides the Company with the ability to increase the facility size in the future by up to $250M.

16:36 EDT Transgenomic board approves 1-for-30 reverse split - Transgenomic confirmed its special meeting of stockholders will be held on June 5 to vote on the proposed merger with Precipio Diagnostics and certain other matters. In conjunction with the proposed merger, and as part of the company's plan to re-list its common shares on NASDAQ, Transgenomic's board has approved a 1-for-30 reverse split of its issued and outstanding shares of common stock. The planned effective date of the reverse split is 5:00 pm ET on June 5. The merger and the transactions relating to the merger are expected to close in June.

16:34 EDT Wellesley Bancorp raises quarterly dividend 1c to 5c per share - Wellesley Bancorp, the holding company for Wellesley Bank, announced that on May 24, 2017 its board of directors approved a quarterly cash dividend to its stockholders of 5c per common share, an increase of 1c over the prior quarter's dividend, to be paid on June 21, 2017 to stockholders of record as of the close of business on June 7, 2017.

16:34 EDT A.M. Best affirms credit ratings of Manulife Financial, subsidiaries

16:33 EDT National Storage raises quarterly dividend to 26c per share - National Storage announced its Board of Trustees declared a quarterly dividend of 26c per common share payable on June 30 to shareholders of record on June 15. This increase in the Company's quarterly dividend represents an annualized dividend rate of $1.04, an 8% increase over the previous annualized dividend rate of $0.96 per share.

16:31 EDT Neenah Paper renews annual $25M stock repurchase program - Neenah Paper authorized the renewal of the company's annual share repurchase program for up to $25M of its outstanding common stock over the next twelve months ending May 31, 2018.

16:25 EDT Caleres reports Q1 Famous Footwear SSS down 0.6% - Reports Q1 Famous Footwear total sales of $366.5M, up 0.5%. Reports Famous.com sales increased 25.7% to 5.7% of sales.

16:23 EDT Mercury Systems receives $4M order for advanced defense application - Mercury Systems announced it received a $4M order from a leading defense prime contractor for an advanced defense application. The order was booked in the company's Q4.

16:21 EDT Deckers Brands targets total sales $2B for FY20 - Targets FY20 operating margin 13%. Targets FY20 ROIC over 20%.

16:19 EDT Valspar expands production capacity for automotive coatings - Valspar has expanded production capacity of its automotive refinish coatings products at U.S.-based manufacturing facilities. Recent technology and equipment upgrades at locations in Garland, Texas and Pittsburgh, Pennsylvania have significantly increased manufacturing volumes, and filling and storage capacity for select brands within the Valspar Automotive portfolio. Expansions at the Garland and Pittsburgh sites represent a $10M project. The added production capacity will result in a 200% increase in output of automotive refinish brands.

16:10 EDT Liberty Tax appoints Edward Brunot as COO - Liberty Tax has named Edward Brunot as COO, effective June 1. Brunot will oversee all aspects of the company's daily operations, including developing and implementing strategies that will directly contribute to maintaining the company's "competitive edge." Most recently, Brunot served as president of MDV and executive VP of SpartanNash.

16:08 EDT Royal Bancshares Of Pennsylvania shareholders approve merger - Royal Bancshares of Pennsylvania (RBPAA), the holding company for Royal Bank America, announced that its shareholders approved its pending merger transaction with Bryn Mawr Bank Corporation (BMTC) at a special meeting of shareholders held on May 24. At the special meeting, 98.6% of votes cast were voted in favor of the merger.

15:30 EDT BancFirst appoints CEO Rainbolt as exec. chairman, names Harlow as CEO - BancFirst announced management changes adopted by its board of directors. CEO David Rainbolt will assume the role of executive chairman of both BancFirst Corp and its primary subsidiary, BancFirst. Dennis Brand will transition from CEO of the subsidiary bank to serve as chairman of the executive committee. He will continue to serve as a director of BancFirst Corp. Succeeding Rainbolt as CEO of BancFirst Corp will be David Harlow. Darryl Schmidt will assume the role of BancFirst CEO. Gene Rainbolt became chairman emeritus of BancFirst Corp in the first quarter of this year. "The company's succession plan has been in place for several years and I have come to the conclusion that now is the time to implement that plan," remarked Dennis Brand.

15:03 EDT Lancaster Colony appoints Ciesinski as CEO - The board of Lancaster Colony has appointed David Ciesinski as CEO and principal executive officer effective July 1. John Gerlach, Jr., the company's current CEO, will continue his employment and retain his role as Lancaster Colony's executive chairman. Ciesinski has served as Lancaster Colony's president and Chief Operating Officer since joining the company in April 2016.

14:37 EDT Optum, Merck collaborate to advance value-based reimbursement models - Optum, the health services business of UnitedHealth (UNH), and Merck (MRK) will collaborate to "develop and simulate the performance of contractual reimbursement models in which payment for prescription drugs is aligned more closely with patient health outcomes." Through a multi-year collaboration on a shared learning laboratory, the companies will explore value-based and pay-for-performance models, known as Outcomes-Based Risk Sharing Agreements, and their potential for broad adoption among health insurance companies, pharmacy benefit managers, and pharmaceutical companies. The initiative will involve the use of real world data to co-develop and test predictive models and co-design OBRSAs to reduce clinical and financial uncertainty with respect to payment for prescription drugs. The companies explained that, under OBRSAs, health plans and other payers reimburse drug manufacturers on the basis of clinical outcomes achieved; prices can fall or rise if the results succeed or fail to meet expectations outlined in the agreement. Optum and Merck plan to publicly share analytic insights, findings and recommendations to help inform and facilitate the understanding and use of pragmatic approaches to OBRSAs in the health care system.

14:35 EDT Tableau sees long-term revenue growth greater than 20% - Tableau in analyst day presentation slides guided its long-term revenue growth to greater than 20%, with greater than 80% recurring revenue and greater than 20% non-GAAP operating margin. The shares are up $4.11, or 7%, to $66.07 in afternoon trading.

14:33 EDT Viacom and Altice USA announce advertising and content distribution pact - Viacom and Altice USA will create an unprecedented, industry-leading partnership that combines Altice USA's unique audience data, multi-screen advertising platforms, measurement and analytics capabilities with Viacom's advanced advertising offerings to deliver local and national advertising across multiple screens, including TV, mobile, tablet and desktop. The content distribution arrangement includes an early carriage renewal of Viacom's premier networks in the Optimum system and the return of a number of Viacom networks in Suddenlink systems, as well as additional rights for the distribution of multi-platform, digital and next-generation Viacom content including select virtual reality and 4K for Altice USA's current and future customer offerings. Viacom's networks include Nickelodeon, Comedy Central, MTV, BET, Nick Jr., VH1, Spike (which will be rebranded as the Paramount Network in 2018), TV Land, and CMT, among others.

14:29 EDT Tableau rallies 6%, or $3.87, to $65.83 as analyst day continues

14:16 EDT Endicott Management reports 9.8% stake in WashingtonFirst

14:04 EDT Geo Group awarded $346M Department of Justice contract - Reference Link

13:44 EDT Donegal Mutual completes acquisition of Mountain States Insurance - Donegal Mutual Insurance announced that, following the receipt of all necessary approvals, Mountain States Mutual Casualty Company merged with and into Donegal Mutual effective May 25. Donegal Mutual is the surviving company in the merger, and Mountain States' insurance subsidiaries, Mountain States Indemnity Company and Mountain States Commercial Insurance Company, have become insurance subsidiaries of Donegal Mutual. Mountain States and its insurance subsidiaries had net premiums written of approximately $33M in 2016 in the states of New Mexico, Colorado, Texas and Utah. "We believe this acquisition will enhance our overall business and provide for significant future growth over time," remarked Donegal Mutual.

13:32 EDT Anika Therapeutics enrolls first patient in supplemental Phase III CINGAL trial - Anika Therapeutics announced the enrollment of the first patient in its supplemental Phase III trial evaluating the efficacy and safety of CINGAL, its novel HA-corticosteroid combination viscosupplement for the treatment of symptoms associated with osteoarthritis of the knee. The newly initiated supplemental Phase III trial will enroll patients at 30 European sites. These patients will be randomized to receive CINGAL, MONOVISC, or triamcinolone hexacetonide and will be evaluated for 26 weeks for safety and changes in pain, function, and quality of life measures.

13:30 EDT Tempur Sealy lower after Target invests in startup Casper - Shares of matters manufacturer Tempur Sealy (TPX) moved lower after Recode reported that Target (TGT) invested $75M in Casper Sleep. The investment came after Target tried acquiring the entire startup for $1B, according to Recode's Jason Del Rey. Casper sells mattresses online and delivers them to homes in a box. Its queen mattress sells for $950. Following the news, shares of Tempur Sealy are down 4% to $45.86 while Select Comfort (SCSS) is down 1% to $29.16. Target is up 30c to $54.42 in afternoon trading. The retailing giant told Recode in a statement, "Target invested in Casper because we believe in their team, their ideas and their vision for reimagining sleep. The strategic partnership offers Casper access to an established retail brand and gives Target an opportunity to work with a future-focused digital brand that is exploring an area that is meaningful for our guests - sleep and wellness. We're looking forward to exploring the future together."

13:19 EDT Pfizer: FDA advisory commitee recommends approval of epoetin alfa biosimilar - Pfizer announced the FDA Oncologic Drugs Advisory Committee recommended approval of the company's proposed epoetin alfa biosimilar across all indications. This marks the first time a biosimilar erythropoiesis-stimulating agent has been recommended for approval by a U.S. FDA Advisory Committee. The Committee's favorable recommendation was based on its review of the totality of evidence, including demonstration of comparable efficacy and safety of biosimilar epoetin alfa to its reference product, Epogen and Procrit. The company is seeking FDA approval of the following indications: Treatment of anemia due to: Chronic Kidney Disease in patients on dialysis and not on dialysis. Zidovudine in HIV-infected patients. The effects of concomitant myelosuppressive chemotherapy, and upon initiation, there is a minimum of two additional months of planned chemotherapy. Reduction of allogeneic red blood cell transfusions in patients undergoing elective, noncardiac, nonvascular surgery. "The Committee's recommendation reinforces the potential value of biosimilars in expanding access to additional high-quality treatment options for the patients in the U.S. who need them," said Diem Nguyen, Global President, Americas, Pfizer Essential Health. "Following the approval and launch of INFLECTRA in 2016, this positive recommendation - a first for a proposed ESA biosimilar - marks an important milestone for Pfizer's U.S. biosimilars portfolio." The FDA will take the Committee's recommendation into consideration before taking action on the Biologics License Application for the proposed epoetin alfa biosimilar across all indications. Pfizer has entered into an agreement with Vifor Pharma Inc. for the commercialization of its proposed epoetin alfa biosimilar in certain channels.

13:10 EDT Rockwell urges vote against Richmond, Ravich group, says inflated stake percent - Rockwell Medical issued an open letter to all Rockwell shareholders urging them to vote for the company's board nominees and proposals, while reminding them "not to be misled by Richmond Brothers' false narrative." Among other criticisms of the shareholder group, Rockwell claimed that Richmond Brothers and Mark Ravich "misrepresented their voting power to shareholders by claiming they had the authority to vote more than 5.1M shares, but later acknowledged this was not true. This acknowledgement only came after a hearing before a US District Court Judge who questioned their inaccurate statement; Attempted to artificially inflate their individual ownership status by stating they control more than 20% of Rockwell's stock -- and are now seeking to control 20% of the board this year -- when in fact they each personally own less than 1% of the company."

13:01 EDT TSR announces $1.00 per share special cash dividend - TSR announced that its Board of Directors has declared a special one-time cash dividend of $1.00 per share with respect to its common stock, payable on July 14 to stockholders of record as of June 16.

12:44 EDT Norsat trading halted, news pending

12:36 EDT General Motors tells CNBC lawsuit claims are 'baseless' - General Motors, in a statement to CNBC, said the emissions cheating lawsuit claims are "baseless" and that the company will vigorously defend itself.

12:24 EDT BlackRock signs lease at Hudson Yards for new headquarters - BlackRock disclosed in a regulatory filing: "On May 24, BlackRock entered into an agreement... to lease approximately 847,000 rentable square feet of office space at a building to be located at 50 Hudson Yards, New York, New York. The company expects to locate its new corporate headquarters at 50 Hudson Yards... The term of the lease is twenty years from the rent commencement date, which is expected to begin on or about May 1, 2023... The lease is expected to require annual base rental payments of approximately $50.8M per year during the first five years of the lease term, increasing every five years to $58.4M, $66.1M and $73.7M per year -- or approximately $1.25B in base rent over its twenty year term."

12:02 EDT Cabot to build new world-class fumed silica plant in Carrollton, Kentucky - Cabot announced that it has committed to build a new world-class fumed silica plant in Carrollton, Kentucky. The plant will be adjacent to the existing Dow Corning silicone monomer plant in Carrollton and is an extension of Cabot's long-term relationship with Dow Corning. Cabot and Dow Corning have been partners for more than thirty years, with current neighboring operations in Midland, Michigan, USA and Barry, Wales, United Kingdom. Subject to obtaining the necessary government and regulatory approvals, construction of the plant is expected to begin in late-2017 and be operational by 2020. The project will allow Cabot to continue to meet the market demand for its high-performance fumed silica, improve supply and manufacturing efficiencies, and realize the environmental and safety benefits of collocation with raw material production.

11:36 EDT Etsy drops as Citi analyst says takeover 'not imminent' - Shares of Etsy (ETSY) dropped in morning trading after an analyst cut his rating to Neutral, saying a takeover of the company is not imminent despite the company's review of strategic alternatives. The downgrades comes after Amazon (AMZN) introduced its Wedding Shop from Handmade and a report said Etsy is downscaling its intern program. ANALYST REACTION: Citi analyst Mark Kelley downgraded Etsy this morning to Neutral from Buy, telling clients in a note that while the stock has run on its review of alternatives, a takeover is "not imminent" and the company will likely work through operational changes as the new management team gets acclimated rather than seek a buy. The stock could be worth $21-$22 if Etsy is acquired, but $7 if the company remains a standalone with little to no improvement in operational performance, Kelley said. He added he sees risk due to the lack of near-term visibility as he awaits guidance from the company's new management team. He tells investors to hold the stock if already involved and raised his price target for the shares to $14 from $13. STRATEGIC REVIEW: Earlier this month, TPG Group and Dragoneer Investment Group jointly reported an 8% stake in the company and asked Etsy to engage in discussions regarding strategic alternatives. Etsy said in a statement that it values constructive engagement with its shareholders and is focused on maximizing value for all shareholders. Josh Silverman, Etsy's new CEO, confirmed that the company is reviewing strategic and operational plans "to ensure Etsy is focused on the most value-enhancing near- and long-term opportunities." Following the announcement, Loop Capital analyst Blake Harper downgraded the stock to a Hold from Buy, saying a review makes an "imminent sale" unlikely, while Maxin analyst Tom Forte said the review could allow new management to leverage the company's high-potential business model or may result in the board opting to sell the company. AMAZON TARGETS ETSY: Shares of the craft good marketplace have fallen steadily since its IPO in mid April of 2015. The stock hit its high back in April of 2015, briefly trading as high as $36 per share, but quickly came back to earth to trade as low as $6.04 per share at the beginning of 2016, down over 80%. Shares have been the victim of competition from Amazon (AMZN), and eBay (EBAY). As Etsy reviews its strategic and operational plans, Amazon this week introduced the Wedding Shop from Handmade on Tuesday which features "a selection of thousands of unique, handcrafted products" for weddings, aiming for customers who may "have otherwise turned to Etsy for, if shopping online," according to a TechCrunch report. Some Etsy sellers have declined to participate on the wedding shop, but others may consider moving in an effort to scale their business, according to the report. INTERN PROGRAM CUTS: In addition, Bloommberg said this week that Etsy is downscaling its intern program two weeks before college students were slated to start in the positions. The company told students their roles were no longer available and retained just a handful of computer engineering interns. The move followed criticism by shareholder Black-and-White Capital to cut wasteful spending, increase sales growth and raise shares. PRICE ACTION: Shares of Etsy fell 1% to $13.27 in late morning trading.

11:19 EDT Sanderson Farms expects to spend $156.9M on CapEx in FY17

11:14 EDT Sanderson Farms sees grain prices 'relatively benign' in 2H - Says Q2 results reflect benign feed costs, continued favorable demand for poultry products from retail grocery store customers, higher volume, and an improving export environment. Says Palestine, Texas, facility is running at full capacity and St. Pauls, North Carolina, plant will reach 50% capacity next month. Continues to expect grain prices to remain "relatively benign" in 2H. Notes "ample" supplies of both corn and soybeans worldwide, and says the planting progress of the 2017 corn and soybean crops remains "close to average, despite a wet spring in the United States grain belt." Expects production during Q3 and Q4 to be up 13.6% and 11.7%, respectively, vs. last year. Says relative strength of U.S. dollar "still a headwind." Says current grain prices don't reflect "ample" supply. Expects to process 4.23B lbs of fresh chicken in FY17, up 12.4% vs. FY16; expects to process 1.083B lbs in Q3. Comments taken from the Q2 earnings conference call.

11:10 EDT General Motors drops 3% after Bloomberg report of truck rigging suit

10:55 EDT Netflix advances after analysts say 2020 profit can exceed expectations - The shares of Netflix (NFLX) are rising, and have hit a 52-week high, after both Piper Jaffray and William Blair opined that the company's 2020 profits could significantly exceed expectations. Additionally, Piper raised its price target on Netflix shares to $190 from $166. PIPER: If Netflix's international streaming business comes "anywhere close" to matching the growth trajectory of its U.S. business, then the 2020 consensus earnings per share estimate for the company is about 100% too low, wrote Piper analyst Michael Olson. Six years after reaching 20M subscribers in the U.S, Netflix's service had penetrated 51% of high speed U.S. Internet households, Olson reported. However, Olson's current estimates assume that Netflix's penetration of international high speed Internet households, excluding China, will only be 16% in 2020, which is six years after the company's overseas business reached the 20M subscriber mark. Although the international penetration rate probably won't reach 51% in 2020, the discrepancy is "large," especially since Netflix's competition overseas is less intense than in the U.S., the analyst stated. Moreover, 50% of high speed Internet users in seven countries surveyed by Piper either have Netflix subscriptions or plan to obtain one in 2017, according to Olson. He believes that analysts' forecasts for the company's international business "appear overly conservative," while its 2020 profit could exceed the consensus outlook. Olson kept an Overweight rating on the stock. WILLIAM BLAIR: Analysts' 2020 contribution margin estimate of 30% for Netflix is too low, wrote analyst Ralph Schackart. The Street may be underestimating Netflix's ability to profit from sequels to the hit shows it has already launched, explained Schackart. Netflix's "income statement margins" can reach 37% in 2020 if it exploits sequels, the analyst stated. He kept an Outperform rating on the stock. PRICE ACTION: In morning trading, Netflix rose 3.4% to $163.08. The stock earlier hit a 52-week high of $163.48.

10:41 EDT Cigna announces one-time stock award to employees worldwide - Cigna announced it is making a one-time stock award to employees worldwide and providing two new benefits. The stock award is to recognize the passion and commitment Cigna employees bring to customer service and to reinforce pride of ownership in the company. The new benefits further the depth of investment in the Cigna team and will help employees balance work with personal and community interests. Effective today, Cigna employees around the world will receive a one-time award of five shares of stock in Cigna, which represents an investment in their future. To support employees in balancing work and life demands, effective July 1, Cigna is launching a Caregiver Leave Program, a new benefit for U.S. employees that offers up to four weeks of paid leave for employees caring for others including child bonding, care for a seriously ill family member or qualifying military support. Cigna also is ensuring that employees in all countries outside the U.S. where it operates have a minimum of 12 weeks of full paid maternity leave, and four weeks of paid paternity and adoption leave. Additionally, Cigna is introducing the Community Ambassador Fellowship program, which offers eligible employees an opportunity to take a sabbatical-style paid leave from work to improve life in communities where they work and live by supporting projects that exemplify Cigna's mission.

10:31 EDT DTE Biomass Energy acquires two landfill gas-to-energy projects in Texas - DTE Biomass Energy today announced it has acquired two landfill gas-to-energy projects in Texas, purchasing both the operating Fort Bend Power Producers facility just outside of Rosenberg and the Seabreeze landfill gas development project in Angleton. Construction of the Seabreeze plant is expected to commence next month. Fort Bend and Seabreeze bring the number of landfill gas-to-energy projects DTE operates in Texas to three and gives DTE five facilities enterprise-wide which convert landfill gas to pipeline-quality renewable natural gas. DTE Biomass Energy is an Ann Arbor, Michigan based subsidiary of DTE Energy.

10:20 EDT KaloBios comments on publication reporting higher death risk with Chagas - KaloBios Pharmaceuticals commented on a recent publication by independent investigators in PLOS Neglected Tropical Diseases that found a significantly increased risk of death in people infected with Chagas disease assessed from blood donor records. Those testing positive, based on the presence of antibodies to the parasite that causes Chagas disease, had 2.3 times higher risk of death from all causes and 17.9 times higher risk of death from cardiac issues related to Chagas than those who did not have Chagas disease, according to the published paper, "Mortality among blood donors seropositive and seronegative for Chagas disease in Sao Paulo, Brazil: A death certificate linkage study." Cameron Durrant, MD, chairman and CEO of KaloBios, said:"The PLOS Neglected Tropical Diseases paper highlights how dangerous Chagas disease can be, particularly in the asymptomatic indeterminate phase. These are startling numbers: almost 18 times higher risk of dying from Chagas-related cardiac issues, and at least twice as likely to die from all causes compared with people who did not test positive for Chagas. Chagas is an insidious, silent killer that demands our attention here and abroad. An estimated 300,000 people in the United States are infected with Chagas disease. The paper also concludes that earlier treatment with known medicines could help to save lives and lower this excess risk of death. Findings like these should serve as a clarion call for us to get available treatments to the right patients at the right time. It's possible we can help prevent people from dying - in Latin America as well as the U.S."

10:12 EDT CSRA unit wins five-year $266M EPA contract - CSRA announced that its subsidiary, SRA International, has been awarded a five-year, $266M contract (including all option years) by the General Services Administration's Federal Systems Integration and Management Center. The new contract directs CSRA to provide IT support for the Environmental Protection Agency.

09:52 EDT FDA begins scientific review of Philip Morris MRTP application for EHTP - On May 24, the US FDA published the executive summary and research summaries supporting Philip Morris International Inc.'s Modified Risk Tobacco Product application for the company's EHTP. In doing so, the agency announced that it will publish a notice in the Federal Register establishing a formal docket for public comments on PMI's application at a later date. PMI submitted the application to the FDA on December 5, 2016. Publication of PMI's summaries initiates a substantive scientific review process by the FDA's Center for Tobacco Products. "We welcome FDA and public review of the comprehensive scientific evidence package that we submitted to the agency through its MRTP application process," said Dr. Moira Gilchrist, PMI Vice President Corporate Affairs of Reduced-Risk Products. "PMI's application demonstrates our commitment to develop innovative, smoke-free technologies that can ultimately replace combustible cigarettes to the benefit of smokers, public health and society at large."

09:31 EDT Navios Maritime Partners acquires 5 container vessels for $59M - Navios Maritime Partners announced that pursuant to the Master Agreement with Rickmers Maritime Trust, Navios Partners acquired five container vessels for $59M. The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26,850. The charters expire in 2018 and early 2019 and the vessels are expected to generate approximately $45M of EBITDA during the period of the charters, assuming expenses approximating current operating costs and 360 revenue days per year. These vessels are expected to be sold to Navios Maritime Containers, as previously announced.

09:28 EDT Signet Jewelers says off-mall stores have performed better than mall stores

09:28 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Best Buy (BBY), up 13.1%... Sears Holdings (SHLD), up 14.9%... PVH (PVH), up 6.1%... HP Inc. (HPQ), up 4.6%... Abercrombie & Fitch (ANF), up 6.2%... Williams-Sonoma (WSM), up 8.9%... Guess (GES), up 14.2%. ALSO HIGHER: BioCryst (BCRX), up 21.8% after announcing that second interim analysis of APeX-1 trial showed the overall attack rate was lowered 73% when patients were treated with the 125 mg dose of BCX7353... Aerie Pharmaceuticals (AERI), up 24.7% after it reported "positive" Roclatan Phase 3 topline efficacy results and said that it expects to submit its Roclatan NDA in the first half of 2018. DOWN AFTER EARNINGS: Dollar Tree (DLTR), down 2.7%... Signet Jewelers (SIG), down 1%... International Game (IGT), down 8.6%. ALSO LOWER: Bank of the Ozarks (OZRK), down 2.9% after its 6.6M share Spot Secondary priced at $45.80... Syndax (SNDX), down 2.8% after its 3.75M share Secondary priced at $13.25.

09:20 EDT Unum Group board authorizes $750M share repurchase - Unum Group announced that its board of directors has authorized the repurchase of up to $750M of the company's outstanding common stock through Nov. 25, 2018. This new authorization replaces the previous authorization of $750M that was scheduled to expire on Nov. 26. The timing and amount of any share repurchases under the new authorization, which may be made in the open market or in privately negotiated transactions, including accelerated share repurchase transactions, will be determined by management based on market conditions and other considerations. The program can be modified, extended, or terminated by the board at any time.

09:18 EDT Signet Jewelers sees sequential improvement for rest of year - Doesn't see closing out phase two of the strategic outsourcing of the credit portfolio this year.

09:16 EDT BioCryst says second interim analysis of APeX-1 trial shows attacks down 73% - BioCryst Pharmaceuticals announced results from a second interim analysis of its Phase 2 APeX-1 clinical trial in hereditary angioedema, or HAE. APeX-1 is a 3-part dose ranging trial designed to evaluate the efficacy, safety, tolerability, pharmacokinetics and pharmacodynamics of orally administered once-daily, or QD, BCX7353 for 28 days, as a preventative treatment to reduce the frequency of attacks in HAE patients. This second interim analysis evaluated data from all patients in Parts 1 and 2 of the trial. The first interim analysis evaluated data from 28 of 36 patients in Part 1. The company notes the 125 mg dose of BCX7353 showed a reduction of 73% in overall attack rate.

09:16 EDT Tiffany raises quarterly dividend 11% to 50c per share - The Board of Directors of Tiffany & Co. has declared a regular quarterly dividend of 50c per share of Common Stock, representing an 11% increase in the quarterly rate. This declaration increases the quarterly dividend from 45c per share, or $1.80 annually, to the new rate of 50c per share, or $2.00 annually. The dividend will be paid on July 10, 2017 to shareholders of record on June 20, 2017.

09:08 EDT Adtalem Global Education names Gena Ashe chief legal officer - Adtalem Global Education announced that Gena Ashe has been named senior VP, chief legal officer, and corporate secretary of the company, effective May 30. She will serve on the company's executive leadership team, reporting to president and CEO Lisa Wardell, and will be responsible for strategic leadership and oversight of all legal matters impacting the enterprise worldwide. Most recently, Ashe was executive VP, chief legal officer, and corporate secretary for BrightView Landscapes, formerly The Brickman Group.

09:07 EDT Signet Jewelers says 250 employees to transition to ADS - Says 650 employees to be transitioned to Genesis.

09:05 EDT Court denies Rockwell's motion against Richmond Brothers, Mark Ravich - Richmond Brothers and Mark Ravich, who together with their affiliates beneficially own nearly 6.1M shares, or 11.7%, of Rockwell Medical's outstanding common stock, announced that the U.S. District Court for the Eastern District of Michigan, Southern Division, has issued an order denying Rockwell's motion for preliminary injunction against Richmond Brothers and Mark Ravich. Rockwell had sought this preliminary injunction in order to require Richmond / Ravich to amend their Schedule 13D filing and prohibit them from soliciting shareholder votes in the context of their proxy contest to elect Mark Ravich to the board. David Richmond, Chairman of Richmond Brothers and Mark Ravich said, "After Rockwell has repeatedly referenced the claims in this lawsuit to dissuade shareholders from supporting us, we are pleased to share the Court's ruling with the Rockwell investment community. The ruling makes clear that shareholders will be afforded a full opportunity to cast their votes as they deem appropriate. We will continue to make our case for change at Rockwell as we approach the Company's annual meeting." Shareholders who have already voted on the blue proxy card to elect Mark Ravich to the voard need take no further action. Shareholders who have voted on the company's white proxy card may change their vote by voting a later-dated blue proxy card.

09:03 EDT Ford announces leadership team appointments, Raj Nair to lead North America - Ford announced senior leadership appointments around the world, completing the newly reorganized team led by President and CEO Jim Hackett. Reporting to Jim Farley, executive vice president and president, Global Markets, new appointments and changes include: Raj Nair is named executive vice president and president, North America, succeeding Joe Hinrichs. Nair previously served as executive vice president, Product Development, and chief technical officer, leading the company's global Product Development operations and playing a key role in the company's mobility efforts. His new appointment is effective June 1. As part of previously planned organizational change, Dave Schoch, group vice president and president Asia Pacific, has announced his intention to retire, after 40 years with Ford. Peter Fleet is named group vice president and president, Asia Pacific, succeeding Dave Schoch. Fleet will lead all Ford's operations and partnerships in Asia Pacific. Mark Ovenden is named vice president, Marketing, Sales and Service, Asia Pacific. Steven Armstrong is appointed group vice president and president, Europe, Middle East & Africa, succeeding Jim Farley. Sherif Marakby is appointed to a newly created position of vice president, Autonomous Vehicles and Electrification, effective June 12. New appointments reporting to Joe Hinrichs, executive vice president and president, Global Operations include: Hau Thai-Tang is appointed executive vice president, Product Development and Purchasing. New appointments reporting to Marcy Klevorn, executive vice president and president, Mobility include: Neil Schloss is appointed vice president and chief financial officer, Mobility, effective Aug. 1. Schloss previously served as vice president and treasurer for Ford, and chief financial officer of Ford Smart Mobility LLC. Jeff Lemmer is appointed vice president and chief operating officer, Information Technology, effective June 1. The appointment of a chief information officer will be the subject of a future announcement. Bradley Gayton is appointed group vice president, chief administrative officer and general counsel, effective June 1. Ken Washington is appointed vice president, Research and Advanced Engineering, and chief technology officer, effective June 1, reporting to Jim Hackett. Kenneth R. Kent is appointed vice president and treasurer, succeeding Neil Schloss.

09:00 EDT Signet says promotional activity for Mother's Day higher than last year - Says SSS decline partially attributable -- 330bps -- to later timing of Mother's Day; says Mother's Day timing to benefit Q2. Says higher priced bridal jewelry, diamond fashion jewelry outperformed other merchandise categories. Says sequential improvement in sales performance normalized for Mother's Day. Says some performance issues due to overall weakness in retail environment. Says Valentine's Day impacted by delay in tax refunds. Says promotional activity for Mother's Day higher than last year. Says to engage in talks with capital providers to finalize fully-outsourced structure. Sees no material impact to net sales from first phase of outsourcing of credit portfolio. Comments taken from the Q1 earnings conference call. Signet is down 7.6% in premarket trading.

08:58 EDT Alaska Communications signs MOU with OneWeb - Alaska Communications announced that it has signed a non-exclusive memorandum of understanding to become the first reseller of OneWeb enabled broadband access in Alaska. Starting in 2019, this new high-speed, low latency broadband service will be available to every Alaska home, school, business, and community center. "OneWeb's system is unprecedented in scale, including 900 ultra-high throughput Low Earth Orbit satellites capable of providing more than 7 Tbps of new global capacity. Even more unique is that OneWeb is specifically designed with a polar orbit to ensure coverage of 100% of the U.S., including Alaska which has historically, because of its high latitude, had poor coverage from the satellite industry," the company says.

08:53 EDT Abercrombie & Fitch says inventory 'well balanced'

08:42 EDT Best Buy taking moderate view on iPhone 8 launch - Best Buy (BBY) management said they know as much about Apple's (AAPL) iPhone as the rest of the public. This includes launch date and device specifics.

08:37 EDT Akebia names Rita Jain chief medical officer - Akebia Therapeutics (AKBA) announced the appointment of Rita Jain as senior VP and chief medical officer. Jain will be responsible for leading the clinical development of the company's HIF pipeline, including the global Phase 3 development program for vadadustat, an oral HIF stabilizer in development for the treatment of anemia related to chronic kidney disease. Jain succeeds Brad Maroni, who will remain at Akebia as a medical advisor. Jain joins Akebia from AbbVie (ABBV) where she most recently was the VP of men's and women's health and metabolic development.

08:36 EDT Abercrombie & Fitch says DTC accounts for 27% of sales, up from 24% a year ago

08:34 EDT Abercrombie & Fitch says Q1 results 'largely in line with expectations' - Says store traffic "remains an industry challenge." Comments from Q1 earnings conference call.

08:32 EDT Callon Petroleum CEO Fred Callon passes away - Callon Petroleum CEO Fred L. Callon died suddenly and unexpectedly on May 24. CFO Joe Gatto commented, "(...) Callon's Board of Directors will be convening today to discuss the company's plan for succession to ensure the continuity of its strategic direction and operations."

08:28 EDT Medtronic sees Q1 EPS in upper end of high single digit range - Medtronic (MDT) sees FY18 EPS negatively impacted by 5c-10c due to FX. Sees FY18 revenue impacted by FX by $75M-$175M. Says FX to be revenue headwind in 1H, tailwind in 2H. For Q1, EPS to be negatively impacted by 3c-5c by FX, and revenue by $10M-$60M. Says realized over $600M in Covidien synergy savings, says on track to deliver $850M of total cost savings by end of FY18. Says FTC approved unit sale to Cardinal Health (CAH). Sees solid operating margin growth in FY18, with stronger growth in back half of year. Says currency to impact gross margin more in Q1 than Q2. Sees Q1 EPS in upper end of high single digit range, Q2 EPS in mid single digit range. Comments taken from the Q4 earnings conference call.

08:23 EDT Best Buy looks to reduce costs by $600M, to be completed by 2020 - Comments provided during Q1 earnings conference call.

08:13 EDT Trovagene reports Phase 1 results for PCM-075 in acute myeloid leukemia - Trovagene announced summary data from a phase 1 safety study conducted by Nerviano Medical Sciences with PCM-075, a polo-like kinase 1 inhibitor. This data is supportive of a planned phase 1/2 clinical trial in patients with acute myeloid leukemia and is now being submitted for peer review publication. The phase 1 safety study was an open-label trial in patients with advanced or metastatic solid tumors. PCM-075 was administered orally to evaluate drug metabolism and first cycle dose-limiting toxicities and related maximum tolerated dose. The study also evaluated PCM-075's pharmacokinetic profile in plasma, its anti-tumor activity, and its ability to modulate intracellular targets in biopsied tissue. Thrombocytopenia and neutropenia were identified as the primary DLTs, which are consistent with the expected mechanism of action and results from preclinical studies. These hematologic toxicities were reversible. No other clinically relevant safety findings emerged. The complete phase 1 data, study details and conclusions are part of the manuscript that will be submitted by study investigators for peer review publication.

08:10 EDT Fiesta Restaurant stockholder group JCP comments on company's presentation - Fiesta Restaurant Group stockholders JCP Investment Management, together with the other participants in its solicitation, with aggregate ownership of approximately 9.0% of the company's outstanding shares, issued a statement addressing Fiesta's May 23 presentation in connection with the annual meeting to be held on June 7. JCP believes that the presentation "contains a number of false and misleading statements with respect to Fiesta and JCP that must be addressed (...) Fiction: The company's Board of Directors has proactively taken steps to address Fiesta's underperformance. Facts: The Board has taken defensive and reactionary measures after our public involvement (...) Fiction: Mr. Pappas' interests are not aligned with stockholders, and he does not have the time to devote to Fiesta. Facts: Fiesta represents JCP's largest investment in terms of invested capital. JCP, an investment firm representing more than 60 clients across the capital structure, believes the investment opportunity at Fiesta is significant. (...) Fiction: John B. Morlock has a consistent history of destroying stockholder value. Facts: Mr. Morlock is a talented restaurant operator that will prove invaluable in the implementation and execution of a precise plan to drive stockholder value. (...) Fiction: Fiesta has the right Board to drive stockholder value. Facts: Fiesta's incumbent directors have presided over prolonged underperformance and must be held accountable for the massive destruction of value that has occurred under their watch (...) Fiction: Fiesta is committed to strong corporate governance practices. Facts: Fiesta maintains a classified Board structure and many other stockholder unfriendly provisions that are inconsistent with corporate governance best practices that serve to entrench the incumbents (...) While Fiesta claims to have a focus on Board refreshment, it should be noted that each of the Board's unilateral appointments occurred since the end of February 2017, after our public involvement (...)".

08:09 EDT Adaptimmune initiates NY-ESO SPEAR T-cells study with Keytruda - Adaptimmune Therapeutics (ADAP) announced that it has initiated its study of NY-ESO SPEAR T-cells targeting NY-ESO in combination with Keytruda, an anti-PD-1 inhibitor marketed by Merck (MRK), in patients with multiple myeloma. This study is now open for enrollment.

08:05 EDT Protagonist Therapeutics initiates Phase 1 clinical study of PTG-300 - Protagonist Therapeutics announced that the company has initiated a Phase 1 clinical study of PTG-300 in normal healthy volunteers. PTG-300 is an injectable hepcidin mimetic peptide discovered using the company's proprietary technology platform, and it is being developed as a potential treatment for patients with chronic iron overload in rare diseases such as beta-thalassemia. The Phase 1 single ascending dose study will evaluate the safety, tolerability, and pharmacokinetics of PTG-300 in normal healthy volunteers. In addition, the effect of PTG-300 on baseline serum iron levels will be analyzed to evaluate pharmacodynamics-based clinical proof-of-concept. The company expects to report results from this trial in the fourth quarter of 2017.

08:03 EDT SL Green Realty's Reckson signs two deals totaling 81,441 square feet - Reckson, a division of SL Green Realty Corp., announced it has signed an 11-year, 65,000-square-foot lease with Ascensia Diabetes Care US Inc., a global diabetes health management company, and a 16,442-square-foot lease with Exelon Generation Company, an American Fortune 100 energy company, at The Summit--a three building, 700,000-square-foot Class A office complex in Vahalla, New York.

08:02 EDT Merck enters worldwide license agreement with Teijin for antibody candidate - Merck announced that it has entered into an exclusive worldwide license agreement with Teijin Pharma for the development, manufacture and commercialization of an investigational preclinical antibody candidate targeting the protein tau. Changes in tau are associated with a number of diseases affecting the nervous system, including Alzheimer's disease. The addition of this antibody targeting tau will complement Merck's portfolio of candidates being investigated for the treatment of Alzheimer's disease. This includes [18F]-MK-6240, a tau ligand currently being evaluated as a potential Positron Emission Tomography imaging agent for quantifying the brain burden of neurofibrillary tangle pathology in people with AD. Merck is evaluating verubecestat an investigational small molecule inhibitor of the beta-site amyloid precursor protein cleaving enzyme 1, in a Phase 3 study of people with prodromal AD.

07:44 EDT Abercrombie & Fitch CEO sees Q2 remaining promotional, results improving in 2H17 - Abercrombie & Fitch CEO Fran Horowitz said: We are encouraged by our progress across all brands, particularly in March and April as a whole, in an aggressively promotional environment. We are pleased with the performance of our largest brand, Hollister, as our strategic initiatives continue to deliver. Abercrombie comparable sales were in line with our expectations as we continue to apply the learnings from Hollister's successes. Our focus on closeness to our customers enables us to adapt and execute better and faster, ensuring more consistent delivery of the right product at the right time, with the right brand voice, and through the right brand experience. While we anticipate Q2 environment to remain promotional, we expect results to improve further in the second half of the year, as we see returns from our strategic investments in marketing and omnichannel. The international roll-out of full omnichannel capabilities, coupled with insights from multiple customer touchpoints online and in-store, including our rapidly growing loyalty programs, means we are better equipped to anticipate our customers' needs whenever, wherever and however they choose to engage with our brands. We continue to tightly manage costs and inventory, and focus on execution to position our business for sustainable growth."

07:38 EDT Abercrombie & Fitch sees Q2 SSS remaining challenging - Abercrombie & Fitch expects comparable sales to remain challenging in Q2, with trend improvement in the second half of the year. The company expects continued adverse impact from foreign currency on sales and operating income. Sees a gross margin rate down slightly to last year's adjusted non-GAAP rate of 61%, with continued pressure in Q2. Expects operating expense to be down at least 3% from last year's adjusted non-GAAP operating expense of $2.03B, with approximately 65% of the full year reduction to occur in the second half of the year. Sees net income attributable to noncontrolling interests of approximately $4M. Sees FY17 CapEx approximately $100M.

07:35 EDT Infosys joins HP Global System Integrator Alliance - Infosys (INFY) and HP Inc.(HPQ) launched joint Retail Point of Sale and Enterprise Device as a Service solutions as part of the HP Global System Integrator Alliance Program. The joint RPOS solution offers a digital approach across the supply chain, enabling real-time collaboration between shoppers, retailers and vendors at the point of purchase.

07:30 EDT Rayonier Advanced Materials to acquire Tembec

07:20 EDT Ionis Pharmaceuticals reports published results for AKCEA-ANGPTL3-L - Ionis Pharmaceuticals' wholly owned subsidiary Akcea Therapeutics announced the publication in The New England Journal of Medicine of key preclinical findings with angiopoietin-like 3-targeting drugs and Phase 1/2 clinical study results with AKCEA-ANGPTL3-LRx, formerly IONIS-ANGPTL3-LRx. In the Phase 1/2 clinical study, treatment with AKCEA-ANGPTL3-LRx resulted in substantial, dose-dependent reductions in multiple lipids and lipoproteins, including triglycerides, LDL cholesterol, apolipoprotein B, non-HDL cholesterol and apolipoprotein C-III. AKCEA-ANGPTL3-LRx was well tolerated with no serious adverse events. Ionis and Akcea are developing AKCEA-ANGPTL3-LRx, to treat rare hyperlipidemias, non-alcoholic fatty liver disease and combined dyslipidemias to potentially prevent and treat cardiovascular disease.

07:13 EDT Digital Power obtains regulatory approval for acquisition of stake in Microphase - Digital Power announced it has received regulatory approval in connection with the acquisition of the controlling interest in Microphase. The Company believes MPC is prominent in delivering world-class radio frequency and microwave devices, and components and innovative testing devices. DPW previously announced the acquisition of MPC on May 3. The transaction is set to, close imminently. The Company also announced that upon the close of the acquisition of the controlling interest of MPC, it will begin executing a corporate restructure and the Company will operate as a holding company with all operations at the subsidiary level. Details of the corporate restructure will be announced by the Company over the coming days and weeks as milestones are achieved or news deemed appropriate.

07:12 EDT Inseego provides update on CFIUS process and Novatel Wireless sale - On May 25, in connection with Inseego's proposed sale of Novatel Wireless to Jade Ocean Global, a subsidiary of T.C.L. Industries Holdings, the parties were informed by CFIUS that the 30-day review period has been extended into an investigation period which may last up to 45 days. Inseego believes the CFIUS process will conclude on or prior to July 10.

07:11 EDT NAO Executive Chairman Herbjorn Hansson, family increase stake in NAO to 8% - A company owned by the NAO Executive Chairman, Herbjorn Hansson and his son, Alexander, on May 24, 2017, bought 150,000 shares in NAO at an average price of $1.12 per share. Over the last two weeks, as from Tuesday May 9, the Hansson family has acquired 2.63M NAO shares in aggregate at an average price of $1.15 per share. In addition to the holdings of the past, following yesterday's transaction, the Hansson family holds shares equivalent to 8.0% of NAO.

07:10 EDT Nordic American Offshore Chairman, family increase stake in company - A company owned by the NAO Executive Chairman, Herbjorn Hansson and his son, Alexander, recently bought 150,000 shares in NAO at an average price of $1.12 per share. Over the last two weeks, as from Tuesday May 9, the Hansson family has acquired 2,631,007 NAO shares in aggregate at an average price of $1.15 per share. In addition to the holdings of the past, following yesterday's transaction, the Hansson family holds shares equivalent to 8.0% of NAO.

07:07 EDT Fiesta Restaurant CEO issues letter to shareholders - Fiesta Restaurant Group shared the following letter with shareholders written by the company's newly appointed CEO, president and director, Richard Stockinger, which said, " When I joined Fiesta three months ago, I knew I was embarking on a journey that would begin with a revitalization.... With the full backing and encouragement of the board, we carefully crafted a detailed Renewal Plan, which we talked about on our most recent quarterly conference call. The Renewal Plan targets the specific opportunities identified through months of digging deep into every aspect of our brands. Implementation of the Renewal Plan began immediately and shortly thereafter, we closed 30 stores that contributed approximately $14.6M in operating losses last year. This was followed by reductions in general and administrative costs of approximately $7.5M on an annualized basis....Yesterday, a dissident shareholder who is seeking to replace board members with its own nominees issued their own "plan", which lacks the analytical rigor and insight upon which our Renewal Plan is based. Our Renewal Plan and the work we are doing requires much more than throwing out lofty, unsubstantiated, artificial financial targets...Some of what they propose in their "plan" has already been thoughtfully considered by management and the board. Much of it reflects misrepresentations of the facts and a misunderstanding of our reality and business....Now is not the time for the distraction of competing priorities and disruptions in the Boardroom. Now is the time to continue to execute. As you consider how you will cast your vote for directors in the next two weeks, I strongly urge you to consider the foregoing. And as I'm sure we all agree, I deeply and sincerely look forward to creating value for all shareholders.

07:06 EDT Best Buy updating FY18 guidance to reflect better than expected Q1 results

07:05 EDT Oceaneering announces 10-Year ROV vessel services contract - Oceaneering announced that one of its subsidiaries, Oceaneering Canada Limited, has entered into an agreement, expected to extend into 2026, with a major international oil and gas company, to provide remotely operated vehicle services and equipment for projects located offshore of Newfoundland and Labrador, Canada. In addition, Oceaneering will supply tooling and project support, including project management and associated engineering services. Under the terms of the contract, Oceaneering is to provide two ROV systems onboard a Multi-Function Platform Support Vessel supporting the customer's operations. The scope of work contemplates subsea construction, inspection, maintenance and repair services on existing and future infrastructure.

07:00 EDT Syngenta trading halted, news pending

06:58 EDT Signet Jewelers CEO says had 'very slow start' to year - Mark Light, CEO of Signet Jewelers, said, "As anticipated, we had a very slow start to the year as continued headwinds in the overall retail environment were exacerbated by a slowdown in jewelry spending and company specific challenges. However, Signet's Q1 same store sales improved sequentially, when normalized for Mother's Day, and we were pleased with the holiday's results. We continue to take decisive action to adapt our business to the current challenging retail environment and to position our company for long-term growth. Importantly, during the quarter, we made significant improvements to our online platforms and continued to accelerate our digital marketing efforts which resulted in a measurable sequential improvement in our e-commerce performance. We also made important changes to our organizational structure and strengthened our team to drive our 2020 Strategic Vision and deliver operational efficiencies. Based on the progress we achieved to date on our Customer-First OmniChannel strategy and with a number of initiatives underway, we expect Fiscal 2018 results to be within our previously-announced guidance range."

06:56 EDT Signet CEO: Credit portfolio outsourcing to unlock 'significant value' - Mark Light, CEO of Signet, said: "We believe today's announcement regarding the first phase of the strategic outsourcing of our credit portfolio will unlock significant value as it drives EPS accretion and increases our capital efficiency, while enabling us to maintain the full spectrum of our competitive retail credit offering and net sales. Additionally, we will continue to pursue a fully-outsourced model that removes the remaining credit risk from our balance sheet through capital providers." The first phase of the outsourced partnership structure is designed to substantially maintain Signet's net sales. The transaction is expected to be accretive to earnings per share in the first full year of operations based on current stock prices and an October 2017 close. The Company expects an improved cash flow profile and capital efficiency with a slight decline in operating income from the sale of its primary credit program. After closing, Signet will no longer offer credit insurance as a part of its credit offering, which has been included in the anticipated financial impact of the transaction. This will further simplify the in-store selling process. The conversion to contractual aging methodology for the non-prime accounts receivable that will remain on Signet's balance sheet is not expected to have a material impact on Signet's financial statements. Signet expects to realize a non-cash pretax gain due to a reclassification of receivables that will be purchased by Alliance Data from "assets held for investment" to "assets held for sale" in the second quarter of fiscal 2018. This excludes estimated transaction costs of $35 million to $45 million in fiscal 2018. Signet intends to use the proceeds from the sale of its prime receivables to Alliance Data to repay its $600 million securitization facility and repurchase shares over time depending on market conditions. The Company maintains the flexibility to repurchase shares in advance of the close of the transaction. The Company provided the following update to its capital allocation: Adjusted leverage ratio goal between 3.0x to 3.5x based on the revised leverage ratio calculation that reflects pro forma capital structure. Distribution of 70%-80% of free cash flow in the form of share repurchases and dividends, excluding the proceeds from the credit portfolio sale. The Company is committed to maintaining an investment grade profile with a strong balance sheet that provides flexibility to fund its business strategy.

06:54 EDT Signet to sell $1B of prime only credit quality accounts receivable to Alliance Data - Signet Jewelers Limited (SIG) announced the first phase of the strategic outsourcing of its in-house credit program and outlined steps to achieve a fully-outsourced program structure. The first phase, which is designed to substantially maintain the full spectrum of Signet's retail financing options and net sales, is expected to be fully implemented by October 2017: Signet will sell $1B of its prime-only credit quality accounts receivable to Alliance Data Systems Corporation (ADS) at par value. Additionally, under a seven-year agreement, Alliance Data will become the primary provider of credit funding, servicing and associated program functions to Signet's Kay, Jared and Regional brands' customers. Signet will retain the existing non-prime accounts receivable on its balance sheet and continue to originate new accounts, while outsourcing the credit servicing functions of those accounts to Genesis Financial Solutions with an initial term of five years. Signet will form a seven-year partnership with Progressive Leasing, a subsidiary of Aaron's, Inc. (AAN), to provide a lease-purchase payment program to Signet customers who do not qualify for Signet's credit programs, or do not wish to pursue a credit option to access Signet's merchandise. Following the successful implementation of the first phase, which is expected to occur by October 2017, Signet will have completed the sale of approximately 55% of its credit portfolio to Alliance Data, and established long-term third party relationships to service its full credit programs. As part of the second phase, Signet intends to fully outsource its secondary credit programs, including the sale of the remaining receivables on its balance sheet, as well as funding for new non-prime account originations. The Company plans on engaging in discussions with capital providers to finalize the fully-outsourced structure.

06:53 EDT Signet announces first phase of strategic outsourcing of credit portfolio

06:49 EDT Rexford Industrial acquires industrial park for $141.2M - Rexford Industrial Realty announced the acquisition of a 16-building industrial park for approximately $141.2M. Additionally, the company completed the disposition of an industrial property for approximately $40.1M. Proceeds from the disposition were reinvested into the new acquisition through a 1031 exchange with the balance of the purchase funded utilizing the company's line of credit. The company acquired Safari Business Center, containing 16 buildings totaling approximately 1.14M square feet on 52.2 acres, for approximately $141.2M, or approximately $124 per square foot. In a separate transaction, the company sold 2535 Midway Drive in the Central San Diego submarket, for approximately $40.1M, or $107 per square foot. The property consists of two vacant multi-story buildings comprising 373,744 square feet.

06:47 EDT Alliance Data, Signet Jewelers announce strategic long-term agreement - Alliance Data Systems (ADS) announced its Columbus, Ohio-based card services business, a premier provider of branded private label, co-brand and commercial credit programs, and Signet Jewelers (SIG) signed an agreement under which Alliance Data will acquire prime-only credit quality accounts with a value of approximately $1B in receivables from Signet's existing credit card portfolio. In addition, the two companies entered into a long-term agreement where Alliance Data will become the primary issuer of private-label credit cards and related marketing services for Signet, building on its existing relationship with Zale brands. Alliance Data will also acquire a portion of Signet's existing customer care operations in Ohio, including approximately 250 employees, as part of the transaction. Closing of the transaction is expected in the fourth quarter of 2017, subject to regulatory approval and customary closing conditions, and without disruption to Signet's business during the holiday season. Further terms of the agreement were not disclosed.

06:38 EDT Vulcan Materials agrees to acquire Aggregates USA - Vulcan Materials announced that it has reached a definitive agreement with SPO Partners to acquire its aggregates business, Aggregates USA LLC for $900M in cash. Aggregates USA LLC operates 31 facilities serving high growth markets in Georgia, Florida, Tennessee, South Carolina and Virginia.

06:37 EDT Toronto-Dominion CEO says all business segments 'performed well' in Q2 - "All of our business segments performed well in the second quarter reflecting strong revenue growth and reduced credit losses," said Bharat Masrani, Group President and CEO. "Our relentless focus on improving TD's legendary customer experience continues to deliver increased volumes and new customer acquisitions."

06:36 EDT Toronto-Dominion reports Common Equity Tier 1 Capital ratio 10.8% - TD's Common Equity Tier 1 Capital ratio on a Basel III fully phased-in basis was 10.8%, compared with 10.9% last quarter, reflecting strong organic capital generation and the normal course issuer bid completed this quarter.

06:07 EDT ChemChina says 92.2% of Syngenta shares tendered since May 24 - ChemChina announced the provisional end results for ChemChina's offer to acquire Syngenta. Based on preliminary numbers, at the end of the Additional Acceptance Period on May 24, around 92.2% of shares have been tendered.