Stockwinners Market Radar for May 26, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:11 EDT Juno Therapeutics director acquires 20,000 common shares - In a regulatory filing, Juno Therapeutics director Jay T. Flatley disclosed the purchase of 20,000 common shares in two tranches. The first tranche of 10,000 shares, dated May 24, 2017, was bought at $25.1517 per share, while the second tranche of 10,000 shares, dated May 26, 2017, was bought at $24.37 per share.

17:56 EDT Vectrus Systems awarded $212.03M modification to government contract - Vectrus Systems was awarded a $212,032,488 modification to contract W91RUS-13-C-0006 for support of communications equipment and information systems under the purview of the Network Enterprise Technology Command, 160th Signal Brigade and its subordinate units in the Southwest Asia Theater of Operations. Work will be performed in Kuwait, Qatar, Afghanistan, Iraq, Bahrain, United Arab Emirates, and Jordan, with an estimated completion date of May 31, 2018. Fiscal 2017 operations and maintenance funds in the amount of $212,032,488 were obligated at the time of the award. U.S. Army Contracting Command, Fort Huachuca, Arizona, is the contracting activity.

17:33 EDT Endocyte to announce updated data on EC1456, EC1169 at ASCO - Endocyte announced that two posters will be presented on its lead, clinical-stage assets, EC1456 and EC1169, at the 2017 American Society of Clinical Oncology Annual Meeting being held June 2 - 6, 2017, in Chicago. Updated data will be presented on EC1456-01, a two part phase 1 dose escalation and expansion study. The presentation includes data for 87 Part A treated patients with advanced solid tumors and 6 Part B treated patients with FR-positive non-small cell lung cancer as of the data cutoff on May 18, 2017. All patients were imaged to assess folate receptor expression with 99mTc-etarfolatide. Preliminary data from our first patient enrolled in the EC1456 ovarian surgical study, EC1456-02, will also be presented. An update also will be provided for EC1169-01, a two-part phase 1 dose escalation and expansion study in patients with metastatic castration-resistant prostate cancer. The presentation includes data for the expansion phase for 24 taxane-exposed mCRPC patients and 16 taxane-naive mCRPC patients as of the data cutoff on May 15, 2017. All patients were imaged to assess PSMA expression with 99mTc-EC0652.

17:25 EDT ESW Capital reports 8.08% passive stake in Brightcove

17:06 EDT Litespeed Management reports 7.8% passive stake in Celadon Group

17:03 EDT Hill Path Capital raises SeaWorld stake to 11.8% from 10.2%

16:38 EDT FB Financial announces revised terms of Clayton Banks deal - FB Financial Corporation announced that it has entered into an amendment to its Stock Purchase Agreement for its previously announced acquisition of Clayton Bank and Trust and American City Bank from Clayton HC, Inc., the sole shareholder of the Clayton Banks. The parties agreed to the amendment to address competitive concerns raised by the Federal Reserve Board with respect to Clayton HC's post-closing ownership of the company's shares and continued ownership of 50% of Apex Bancorp, Inc., the bank holding company for Apex Bank, a bank headquartered in Camden, Tennessee. The Stock Purchase Agreement has been amended to reduce the stock portion of the consideration to be received by Clayton HC such that Clayton HC's post-closing ownership in the company will be less than 5% of the outstanding shares. The Amendment provides for reducing the stock consideration from 5,860,000 shares to 1,521,200 shares and for a cash payment to Clayton HC of $124.2M at closing as consideration for the reduced stock consideration. Additionally, the Amendment gives the company, through its wholly-owned banking subsidiary FirstBank, the option to reduce or eliminate the $60M subordinated note to be issued to Clayton HC at closing by paying cash in lieu of all or a portion of the principal amount of such note. Under the terms of the Amendment, the consideration for the acquisition of the Clayton Banks is as follows: Cash consideration of $124.2M; 1,521,200 shares of FBK common stock; $60M of FirstBank subordinated debt issued to Clayton HC; or cash payment at FirstBank's option, or any subordinated debt and cash combination thereof; and $79.5M of cash that represents return of excess capital. In connection with the Amendment, the company entered into Securities Purchase Agreements with accredited investors pursuant to which the company agreed to sell in a private placement an aggregate of 4,806,710 shares of the company's common stock at a purchase price of $33.00 per share. The estimated net proceeds from the private placement are $152M and are expected to be used to fund the $124.2M cash consideration under the Amendment, with the remaining net proceeds to be used for general corporate purposes, which may include reducing the amount of the subordinated note to be issued to Clayton HC pursuant to the Amendment. In the event that the acquisition of the Clayton Banks is not consummated, the proceeds from the private placement will be used for general corporate purposes, which may include funding future acquisitions and strengthening the company's and FirstBank's capital position. The acquisition is expected to close in the third quarter of 2017 and is subject to regulatory approvals, approval by FB Financial shareholders, if required by the NYSE, and other customary closing conditions.

16:33 EDT Lumber Liquidators names Timothy Mulvaney chief accounting officer - Lumber Liquidators (LL) announced that it has appointed Timothy J. Mulvaney as Senior Vice President, Chief Accounting Officer, who will report to Marty Agard, the company's Chief Financial Officer. Mulvaney is a certified public accountant and spent the last 20 years in various financial roles with Media General (MEG). Since 2012, Mulvaney served as Media General's Chief Accounting Officer, and served as their Controller since 2009 - in each case through the effective time of the merger between Media General and Nexstar Broadcasting Group (NXST).

16:30 EDT Allegiant Travel COO Bricker resigns - Allegiant Travel announced that Jude Bricker has resigned his position as executive vice president and chief operating officer. Bricker has been with Allegiant since 2006. Bricker will depart his position with Allegiant effective Friday, May 26, 2017. Scott Sheldon, executive vice president and chief financial officer, will act as interim chief operating officer until a successor is selected.

16:25 EDT Wintrust Financial names H. Patrick Hackett, Jr. non-executive chairman - According to a regulatory filing, on May 25, 2017, Wintrust Financial's board of directors elected H. Patrick Hackett, Jr. to serve as non-executive Chairman of the board of directors. Peter D. Crist completed his ninth year of service as non-executive Chairman at the Annual Meeting and thus, per the company's Corporate Governance Guidelines, was ineligible for re-election as non-executive Chairman of the board of directors following the Annual Meeting. Crist will continue to serve as a member of the company's Board of Directors.

16:16 EDT Tronox chairman of the board Tom Casey passes away - Tronox Limited reported the passing of Tom Casey, chairman of the board and former CEO.

16:06 EDT Sanchez Production to change name to Sanchez Midstream Partners - Sanchez Production Partners announced that the company intends to change its name to Sanchez Midstream Partners LP after market hours on Friday, June 2, 2017. The company anticipates that Sanchez Midstream Partners LP will trade under its new ticker symbol "SNMP" effective at the open of trading on the NYSE MKT on Monday, June 5, 2017.

15:35 EDT Novartis announces FDA approval for expanded use of Zykadia - Novartis announced the U.S. Food and Drug Administration approved the expanded use of Zykadia to include the first-line treatment of patients with metastatic non-small cell lung cancer whose tumors are anaplastic lymphoma kinase-positive, as detected by an FDA-approved test. Zykadia first received accelerated approval in 2014 for patients with ALK-positive metastatic NSCLC who progressed on or are intolerant to crizotinib.

15:22 EDT Box Office Battle: 'Pirates of the Caribbean' to top 'Baywatch' - Two major summer blockbusters are opening this holiday weekend -- Disney's (DIS) "Pirates of the Caribbean: Dead Men Tell No Tales," the fifth installment in the fantasy pirates series that stars Johnny Depp, and Viacom (VIA, VIAB) subsidiary Paramount's "Baywatch," which is based on the television series of the same name and stars Dwayne Johnson and Zac Efron. 'Pirates of the Caribbean,' which already brought in $5.5M in Thursday night previews, is expected to win the four-day weekend with $80M-$81M in domestic receipts. Action Comedy "Baywatch," which earned $4.5M in Thursday night previews, is expected to domestically gross $28M-$30M over the holiday weekend. Disney's superhero sequel "Guardians of the Galaxy Vol. 2" is expected to earn an additional $23M-$26M in its fourth weekend at theaters. 21st Century Fox's (FOX, FOXA) "Alien: Covenant," the sixth installment in the science-fiction franchise, is expected to domestically gross $18M-$22M in its second weekend at theaters. Publicly traded companies in the space include Comcast (CMCSA, CMCSK), Lionsgate (LGF.A, LGF.B), Sony (SNE), and Time Warner (TWX).

14:29 EDT Ooma CFO acquires 3,000 common shares - In a regulatory filing, Ooma CFO Ravi Narula disclosed the acquisition of 3,000 common shares at a price of $8.295 per share. The transaction brings Narula's total direct common stock ownership to 218,200 shares.

14:04 EDT Chipotle says malware found during investigation of card security incident - Chipotle Mexican Grill, at the completion of an investigation that involved leading cyber security firms, law enforcement, and the payment card networks, announced further information about the payment card security incident that the company previously reported on April 25. The investigation identified the operation of malware designed to access payment card data from cards used on point-of-sale devices at certain Chipotle and Pizzeria Locale restaurants between March 24 and April 18. "During the investigation, Chipotle removed the malware and continues to work with cyber security firms to evaluate ways to enhance its security measures. In addition, Chipotle continues to support law enforcement's investigation and is working with the payment card networks so that the banks that issue payment cards can be made aware and initiate heightened monitoring," the company said. Customers that used a payment card at an affected location during its at-risk time frame should remain vigilant to the possibility of fraud by reviewing their payment card statements for any unauthorized activity, Chipotle added.

13:02 EDT Baker Hughes reports U.S. rig count up 7 to 908 rigs - Baker Hughes reports that the U.S. rig count is up 7 rigs from last week to 908, with oil rigs up 2 to 722, gas rigs up 5 to 185, and miscellaneous rigs unchanged at 1. The U.S. Rig Count is up 504 rigs from last year's count of 404, with oil rigs up 406, gas rigs up 98, and miscellaneous rigs unchanged. The U.S. Offshore Rig Count is unchanged from last week at 23 and down 1 rig year over year. The Canadian Rig Count is up 8 rigs from last week to 93, with oil rigs up 4 to 40 and gas rigs up 4 to 53. The Canadian Rig Count is up 50 rigs from last year's count of 43, with oil rigs up 26, gas rigs up 25, and miscellaneous rigs down 1 to 0.

12:59 EDT Ulta hits record highs after beating on top and bottom lines - Shares of Ulta Beauty (ULTA) hit record highs today after beating analysts' quarterly estimates on both the top and bottom lines. At the same time, the beauty products retailer guidance for the current quarter at the low end of analysts' estimates. Following the report, many analysts offered bullish commentary. WHAT'S NEW: After the market close on Thursday, Ulta Beauty reported Q1 earnings per share of $2.05, including 14c tax rate benefit on revenue of $1.32B, handily beating estimates calling for $1.80 and $1.27B, respectively. Comparable sales increased 14.3% for the quarter, driven by 8.7% transaction growth and 5.6% growth in average ticket, and retail comparable sales increased 10.9%, including salon comparable sales growth of 9.9%. E-commerce sales grew 70.9% to $104.3M. Looking ahead, Ulta forecast current quarter EPS of $1.72-$1.77 on revenue of $1.257B-$1.278B, at the low end of analysts' estimates of $1.77 and $1.27B, respectively. The retailer also sees SSS, including e-commerce, up 10%-12%. The company also raised its fiscal year 2017 EPS growth to mid-twenties from low-twenties, against analysts' estimates of $8.09B. Ulta additionally raised its SSS growth view, including ecommerce, to 9%-11% from 8%-10% and its ecommerce growth view to 50% from 40%. 'STRONG' CONSUMER RESPONSE: Following the earnings report, Piper Jaffray analyst Erinn Murphy raised her price target for Ulta to $333 and maintained an Overweight rating on the name, citing the company's "strong" Q1 results. She said Ulta's comp growth of 14.3% reflects "strong consumer response to the concept, brand mix and marketing," which is unlikely to change in the near term. She added that the company's 2018 guidance is "likely beatable" citing potential upside from an ongoing traffic shift from department stores, brand mix, expanding basket size and consumer loyalty. In addition, Oppenheimer analyst Rupesh Parikh reaffirmed his Outperform rating and price target of $330, saying the company "handily exceeded" investor expectations. He said he expects continued improvement of Ulta's fundamental backdrop driven by the company's partnership with Estee Lauder (EL), the strong health of beauty trends and increasing department store challenges. Baird Analyst Mark Altschwager also maintained an Outperform rating and raised his price target to $335, citing the company's ability to remain "unfazed" by the difficult retail landscape through its offensive strategy and customer loyalty. He added that strong beauty category growth, shifting customer traffic, and Ulta's rising market power continue to benefit the company and he recommends investors get aggressive on dips. Additionally, JPMorgan analyst Christopher Horvers reaffirmed his Overweight rating and raised his price target to $320 from $310, saying while the company's gross margin was below his forecast, Q1 results were "impressive" and he sees rising benefits from Ulta's continuing expansion of boutiques and the M.A.C launch, the company's ability to engage consumers online and its loyalty program. "ULTA remains at the top of the narrow first bucket of retail -- the expensive, growth-oriented and Amazon (AMZN)-safe stocks," he said. However, Buckingham analyst Kelly Halsor downgraded Ulta to Neutral from Buy citing more balanced risk/reward at current levela, but raised her price target to $330 from $325. She said she sees no sign of a slowdown in the company's business near-term but believes that further upside to Ulta's guidance has largely been priced in. Halsor advised investors to remain opportunistic around valuation. PRICE ACTION: Ulta rose 3.6% to $303.47 in afternoon trading.

12:36 EDT BMW to recall over 45,000 vehicles with doors that can fly open - According to the National Highway Traffic Safety Administration, or NHTSA, BMW of North America is recalling certain 2005-2008 745i, 745Li, 750i, 750Li, 760i, 760Li, and B7 Alpina vehicles equipped with both the Comfort Access and Soft Close Automatic options. In these vehicles, the doors may appear to be closed and latched, but, in fact, may inadvertently open. Roughly 45,484 vehicles are being recalled over this matter, NHTSA said.

11:31 EDT Garmin says to appeal ITC initial determination - Garmin International announced that an Administrative Law Judge at the International Trade Commission made an initial determination in the enforcement proceeding brought by Navico, Inc. against Garmin. The ALJ's initial determination concluded that Garmin's sale of certain DownVu sonar products violated the ITC's December 2015 orders arising from a previous Navico-Garmin ITC investigation. The ALJ recommends a fine in the amount of $37M. Garmin disagrees with the initial determination and will seek review by the ITC, which is expected to issue a final determination in August 2017. "Even if affirmed by the ITC, the ruling has no impact on Garmin's customers or dealers," said Andrew Etkind, Garmin's vice president and general counsel. "Additionally, the ruling does not impact in any way Garmin products with ClearVu sonar functionality, which have been on the market since 2016."

10:52 EDT Analysts say sell JinkoSolar after rally as fundamentals seen deteriorating - The shares of China's JinkoSolar (JKS) and other solar energy companies are falling. The declines come after Morgan Stanley and Citi each downgraded Jinko to sell equivalent ratings, with Morgan Stanley's ratings cut being two notches, citing weakness in the solar sector and valuation concerns. MORGAN STANLEY: JinkoSolar's first quarter profit will probably come in more than 50% below the consensus outlook, warned Morgan Stanley analyst Sheng Zhong. The company's margins have been hurt by lower average selling prices and by rising polysilicon prices and high production costs, according to Zhing. Moreover, JinkoSolar's results will deteriorate for the next 12-18 months as production of solar products accelerate and the policies of key governments towards solar energy remain uncertain, the analyst stated. Zhong, who now expects the company to report a loss in fiscal 2018, lowered the price target on the stock to $16.40 from $19.40 and downgraded JinkoSolar two notches to Underweight from Overweight. CITI: Noting that JinkoSolar's stock had jumped 41% this year before today, Citi analyst Scott Chui wrote that the shares reflected an overly optimistic outlook for the company. JinkoSolar's Q1 profit will probably come in 48% below the consensus outlook due to rising polysilicon costs and falling average selling prices, the analyst stated. Starting in Q3, the company will be hurt by reduced solar subsidies in China, according to Chui. Also, the outlook for key government policies in the U.S. and India is uncertain, according to the analyst, who trimmed his price target on the name to $15 from $15.55. PRICE ACTION: In morning trading, JinkoSolar dropped 3% to $20.81. Other solar names also fell, with Canadian Solar (CSIQ) dropping 3% to $13.34, JA Solar (JASO) losing 1.25% to $7.10, First Solar (FSLR) declining 0.8% to $37.62 and SunPower (SPWR) retreating 1.5% to $8.11.

10:42 EDT Buffalo Wild Wings says Glass Lewis recommends holders vote for company slate - Buffalo Wild Wings announced that Glass Lewis has recommended that Buffalo Wild Wings shareholders vote "FOR" all nine of Buffalo Wild Wings' director nominees, as stated in its report: "We believe shareholders would be best served by electing all nominees comprising the reconstituted board as proposed by the company." The Buffalo Wild Wings' 2017 Annual Meeting of Shareholders will be held on June 2, 2017. To vote in accordance with Glass Lewis' recommendations, shareholders should vote the YELLOW card for ALL nine company nominees. Glass Lewis failed to recommend any nominees proposed by Marcato Capital Management.

10:15 EDT Coach launches tender for Kate Spade as UBS, Deutsche cheer deal - Shares of Coach (COH) and Kate Spade (KATE) are in focus this morning after Coach officially launched its tender offer for Kate Spade for $18.50 per share in cash. The $2.4B deal was announced earlier this month. TENDER OFFER: Coach announced this morning that it launched a formal tender offer to buy rival Kate Spade for $18.50 per share in cash. Coach said the $2.4B offer will expire on June 23, unless extended. The offer will be for all outstanding shares of Kate Spade, Coach stated. The tender offer is subject to customary conditions to closing, and includes a condition that the number of shares validly tendered prior to the expiration, in addition with shares owned by Coach, "represents at least one share more than 50% of all shares then outstanding." DEAL BACKGROUND: Earlier this month, Coach announced plans to buy Kate Spade for $2.4B in a deal that is expected to be accretive in fiscal 2018. In a statement announcing the deal, Coach Chief Executive Officer Victor Luis said that Kate Spade has "a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials. Through this acquisition, we will create the first New York-based house of modern luxury lifestyle brands, defined by authentic, distinctive products and fashion innovation." Coach said at the time that it planned to reduce sales in Kate Spade's wholesale disposition and online flash sales channels. WHAT'S NOTABLE: During the tender offer process, another company or investor could potentially make a hostile offer for the acquisition target. According to reports, Michael Kors (KORS) had been another potential suitor for Kate Spade, but was "not pursuing the deal as aggressively as Coach." ANALYST COMMENTARY: UBS analyst Michael Binetti yesterday raised his price target on Coach to $55 from $49 and reiterated a Buy rating on the stock. In a note to clients, Binetti said Coach is the "best acquirer" of Kate Spade after executing a similar turnaround for its core brand. The increased price target reflects the cost synergies, planned reduction of brand dilutive sales with the Kate Spade acquisition, and the forward growth rates and opportunities for the combined companies, Binetti said. Earlier this month, Binetti said he believes Coach has the right strategy to turn around the Kate Spade business, including its pricing issues and brand scores. At the time, Credit Suisse analyst Christian Buss was also optimistic on the deal, and said Coach will be able to apply its "effective distribution model" and "sales discipline" to Kate Spade. Deutsche Bank analyst Paul Trussell recently upgraded Coach to Buy, saying the acquisition of Kate Spade provides a buying opportunity. The analyst is similarly confident in management's ability to execute, citing the success of Coach's turnaround thus far. Trussell, who expects the Kate Spade deal to be "highly accretive," raised his price target for Coach shares to $54 from $40. PRICE ACTION: In morning trading, Coach and Kate Spade are fractionally higher at $46.12 and $18.44, respectively. Michael Kors is down 1.5% to $36.10.

10:00 EDT Independence Holding commences tender offer to repurchase up to 2M shares - Independence Holding Company announced that it has commenced a tender offer to purchase up to 2,000,000 shares of its common stock at a price per share of $20.00, net to the seller in cash, without interest, less any applicable withholding taxes. The maximum number of shares proposed to be purchased in the tender offer represents approximately 12.21% of the 16,377,756 shares of IHC common stock outstanding as of April 30, 2017 and involves a gross aggregate purchase price of $40 million, assuming the maximum number of shares are tendered. On May 22, 2017, the last trading day before IHC announced its intent to commence a tender offer, the reported closing price of IHC common stock on the NYSE was $17.35 per share. On May 25, 2017, the closing price of IHC common stock on the New York Stock Exchange was $19.85 per share. The tender offer will expire at 5:00 p.m., Eastern time, on Monday, June 26, 2017, unless extended by IHC. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the Offer to Purchase that is being distributed to stockholders.

09:24 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Costco (COST), up 1.6%... Big Lots (BIG), up 6.4%... Deckers Outdoor (DECK), up 13.2%... Nutanix (NTNX), up 15.1%... Ulta Beauty (ULTA), up 4.3%... Veeva Systems (VEEV), up 5.8%. ALSO HIGHER: Immunomedics (IMMU), up 3.8% after being initiated with an Outperform at Cowen. DOWN AFTER EARNINGS: Zoe's Kitchen (ZOES), down 14.9%... GameStop (GME), down 7.5%... Splunk (SPLK), down 6%. ALSO LOWER: Asure Software (ASUR), down 6% after its 1.9M share Spot Secondary priced at $13.50 and announcing the acquisition of iSystems and Compass HRM, as well as issuing guidance... JinkoSolar (JKS), down 5.8% after being downgraded at Citi and Morgan Stanley.

09:04 EDT Egan Jones supports election of Mark Ravich to Rockwell Medical board - Richmond Brothers and Mark Ravich, who together with their affiliates beneficially own nearly 6.1 million shares, or 11.7% of Rockwell Medical's outstanding common stock, today announced that Egan-Jones Proxy Services has recommended that Rockwell shareholders vote on the blue proxy card to elect nominee Mark Ravich to the board. Following this recommendation, all three leading proxy advisory firms - Institutional Shareholder Services, Glass Lewis and Egan Jones have demonstrated support for Richmond Brothers' and Mark Ravich's case for change at Rockwell. To follow these recommendations, Rockwell shareholders should not vote on the company's white proxy card. Egan Jones said, "We believe that Mark Ravich, if elected, will make significant contributions to the company as evident in his skills, experience and qualifications. Specifically, we take note of Mr. Ravich decades of experience in the field of medical devices coupled with his past executive posts in public companies. We believe that Mr. Ravich possesses the right mix of attributes that will ignite change in the boardroom...As such, the nominee appears qualified and we recommend that clients vote for the dissident shareholders' nominee on the blue proxy card."

09:03 EDT Synopsys initiates $100M accelerated share repurchase agreement - Synopsys announced that it has entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association, to repurchase an aggregate of $100M of Synopsys stock. The agreement is in addition to Synopsys' two previous $100M ASRs in 2017 that were settled on May 17, 2017 and February 16, 2017. Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 1.09 million shares, with the remainder, if any, to be settled on or before August 15, 2017, upon completion of the repurchase. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

09:00 EDT Trillium Therapeutics trading resumes

08:52 EDT AstraZeneca to present new data on cancer medicines at ASCO meeting - AstraZeneca, along with its global biologics research and development arm, MedImmune, will demonstrate its progress on the company's cancer medicine development at the 2017 American Society of Clinical Oncology Annual Meeting in Chicago, IL, June 2 to June 6. "With three new oncology medicines addressing the unmet needs of patients with ovarian, lung, and bladder cancers approved in under three years, AstraZeneca is now halfway to delivering on its promise to launch six new medicines for cancer by 2020," the company says. "This progress is reflected in the 100 company-sponsored and supported abstracts, including five Best-of-ASCO presentations, 11 oral presentations and eight poster discussions, accepted for the meeting." These include new data on approved and potential new medicines from the company's pipeline across multiple scientific platforms and tumor types. 'Late-breaker' data from the OlympiAD trial of olaparib versus chemotherapy in HER2-negative germline BRCA1 or BRCA2 mutated breast cancer patients are the first positive Phase III results for a poly ADP-ribose polymerase inhibitor beyond ovarian cancer. Additional olaparib data will include: SOLO-2: Oral presentation of Phase III data on the relationship between health-related quality of life and patient-centered and clinical outcomes with olaparib maintenance following chemotherapy in patients with BRCA-mutated platinum-sensitive relapsed serous ovarian cancer and Study 19: Randomized Phase II overall survival and updated progression-free survival data for the combination of olaparib and cediranib versus olaparib alone in recurrent platinum-sensitive ovarian cancer. AstraZeneca's unique DDR pipeline will also be illustrated through an oral presentation of Phase I data on the WEE1 inhibitor, AZD1775, in combination with radiation therapy and temozolomide in patients with newly diagnosed glioblastoma multiforme and evaluation of intratumoral drug distribution in patients with recurrent GBM. Additional information will also be presented from a Phase I trial of AZD1775 in combination with neoadjuvant weekly cisplatin and docetaxel in borderline-resectable head and neck squamous cell carcinoma. Latest osimertinib investigational data from the AURA3 trial to be released during an oral presentation will provide further evidence of the response to treatment in patients with epidermal growth factor receptor T790M mutation-positive non-small cell lung cancer and central nervous system metastases. Further insights into the ability of osimertinib to cross the blood-brain barrier will be provided through updated results from the BLOOM trial of osimertinib in patients with EGFR mutation-positive NSCLC and leptomeningeal disease. AstraZeneca will be presenting updated data from the NSCLC and bladder cancer cohorts of the Phase I/II Study 1108 of durvalumab in patients with advanced solid tumors. New data in locally advanced or metastatic urothelial carcinoma reinforce the May 2017 US FDA approval of Imfinzi for the treatment of patients with locally advanced or mUC who have disease progression during or following platinum-containing chemotherapy, or whose disease has progressed within 12 months of receiving platinum-containing chemotherapy before or after surgery. Updated durvalumab monotherapy Study 1108 results in Stage IIIB/IV NSCLC will also be presented. These data underline AstraZeneca's forward momentum in lung cancer following the positive top-line results of the Phase III PACIFIC trial of durvalumab as sequential treatment in patients with locally advanced, unresectable NSCLC. In an oral presentation, MedImmune will present data on a novel relationship in NSCLC between EGFR pathway activation and the immunosuppressive molecule CD73.

08:36 EDT Sino-Global signs project agreements with Chinese companies - Sino-Global Shipping America announces the signing of two Project Agreements with Sinotrans Guangxi,, a subsidiary of Sinotrans Limited and COSCO Beijing International Freight. The Project Agreements are extensions of an initial Strategic Cooperation Framework Agreement and Inland Transportation Agreement that the Company entered into with Sinotrans Guangxi and COSFRE Beijing, respectively, in December 2016. Pursuant to the Project Agreements, Sino-Global will continue its efforts with Sinotrans Guangxi and COSFRE Beijing to convert commodity in-bulk shipments to containerization of the commodities shipped between China and the United States. Containerization offers several benefits over bulk shipments which include increased speed and flexibility in the commodities transported as well as the ongoing rise in commodity prices and demand have resulted in the switch to containerization by producers seeking additional value over commodity in-bulk shipments. Also, pursuant to the Project Agreements, Sino-Global will manage all ground logistics and custom declaration services in the U.S. for Sinotrans Guangxi and COSFRE Beijing. Currently, the commodities listed in the Project Agreements primarily include sulfur, soybean and petroleum jelly. As of the date of this release, COSFRE Beijing in partnership with Sino-Global, is now loading in total approximately 300 metric tons of sulfur in twenty-foot containers in Long Beach, California.

08:34 EDT CH2M-led Four Rivers Nuclear awarded Paducah D&R Contract - The United States Department of Energy announced that Four Rivers Nuclear Partnership, LLC., a CH2M-led company with partners Fluor Corporation (FLR) and BWX Technologies (BWXT), was awarded the Paducah Deactivation and Remediation (D&R) Contract at the Paducah Gaseous Diffusion Plant. The Paducah site is situated on approximately 3,500 acres in Western Kentucky, eight miles west of Paducah, Kentucky, and 3.5 miles south of the Ohio River. The performance based contract is valued at approximately $1.5B over ten years; the base term is five years valued at approximately $750M, followed by three-year and two-year option periods, valued at an approximate total of $750M combined. A transition period is scheduled to begin on June 2017.

08:33 EDT Orion Energy CEO John Scribante departs - Orion Energy Systems announced that its board of directors has restructured Orion's management team with the directive to focus on achieving profitability while continuing to increase revenues. As part of this management restructuring, CEO John Scribante, has left the company. Current board chair Mike Altschaefl, has assumed the CEO role. Scott Green, current executive VP, sales, has become Orion's new COO, with ongoing primary responsibility for improving the company's sales generation. Mike Potts and Marc Meade, both current executive VP, have primary responsibility for substantially reducing Orion's cost structure and for streamlining operations. Bill Hull remains as CFO. Although Orion's Q4 and year-end financial results are not expected to be materially different than as previously announced on a preliminary basis, in order to allow Orion's management team to provide investors with more specific details on its goals and objectives for fiscal 2018, Orion's previously scheduled May 26 earnings call is being temporarily postponed. A new earnings call date and time will be announced in the near future.

08:31 EDT Immune Pharmaceuticals receives Nasdaq compliance letter - Immune Pharmaceuticals announced that on May 24, 2017, the company received written notice from Nasdaq that the company has regained compliance with the minimum bid price rule, as required by a decision of the Nasdaq Hearings Panel dated March 10, 2017. The notice confirmed the Panel's determination to continue the listing of the company's securities, subject to the filing by the company of its quarterly report for the period ended March 31, 2017 on or before June 15, 2017. Previously, Nasdaq notified the company of deficiencies due to its failure to timely file its annual report on Form 10-K for the year ended December 31, 2016, and in a written notice dated May 23, 2017, Nasdaq informed the Company that it is not in compliance with Nasdaq's filing requirements for continued inclusion set forth in Listing Rule 5250(c)(1) because it had not filed its Form 10-Q for the period ended March 31.

08:26 EDT Trillium Therapeutics trading halted, news pending

08:03 EDT BlackBerry announces final award in Qualcomm arbitration - BlackBerry (BBRY) announced that it has reached an agreement with Qualcomm (BBRY) resolving all amounts payable in connection with the interim arbitration decision announced on April 12. Following a joint stipulation by the parties, the arbitration panel has issued a final award providing for the payment by Qualcomm to BlackBerry of a total amount of $940M including interest and attorneys' fees, net of certain royalties due from BlackBerry for calendar 2016 and the first quarter of calendar 2017. Qualcomm will pay the full amount of the final award on or before May 31.

08:02 EDT Global Payments announces support for Samsung Pay in the UK - Global Payments (GPN) is offering merchants in the U.K the ability to accept Samsung (SSNLF) Pay, "a simple and safe mobile payment service that works almost anywhere you can swipe or tap your card. As a Samsung Pay-qualified payment provider, Global Payments' robust suite of payment solutions is fully enabled for acceptance, allowing merchants to offer their customers the convenience of Samsung Pay," the company says. To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint and pay. Samsung Pay uses tokenization, Samsung Knox, and biometric authentication to provide secure payments and reduce the security risks inherent to plastic cards. With Near Field Communication technologies, Samsung Pay works with most existing point-of-sale terminals.

07:45 EDT Doctor tied to Insys gets 20 years for illegal prescriptions, Reuters says - John Couch, a doctor who ran the Physicians Pain Specialists of Alabama along with colleague Xiulu Ruan, was sentenced to 20 years in jail for illegally prescribing fentanyl-based painkillers, Subsys, manufactured by Insys Therapeutics (INSY) and Abstral, then manufactured by Galena Biopharma (GALE), Reuters reports. Federal investigators have been conducting a probe of Insys, alleging doctors received illegal kickbacks in exchange for prescribing the drug, and have charged several former Insys executives and managers, including former CEO Michael Babich. Meanwhile, Galena has tentatively agreed to pay $7.5M to resolve a U.S investigation into its marketing practices. Reference Link

07:10 EDT Coach launches tender offer for Kate Spade shares - Coach (COH) announced that its wholly owned direct subsidiary, Chelsea Merger Sub, has commenced a tender offer for all of the outstanding shares of common stock of Kate Spade & Company (KATE) at a price of $18.50 per share, net to the seller in cash, without interest thereon and less any applicable withholding taxes, upon the terms and conditions set forth in the tender offer to purchase. The tender offer will expire at 11:59 pm EDT on June 23, unless extended. As previously reported on May 8, Coach has signed a definitive agreement to acquire Kate Spade.

07:03 EDT Coach offers $18.50 per share to acquire Kate Spade - Coach (COH) announced that its wholly owned direct subsidiary, Chelsea Merger Sub, has commenced a tender offer for all of the outstanding shares of common stock, par value $1.00 per share, of Kate Spade (KATE), at a price of $18.50 per share, net to the seller in cash, without interest thereon and less any applicable withholding taxes, upon the terms and conditions set forth in the tender offer to purchase dated today, a copy of which has been filed with the Securities and Exchange Commission. The tender offer is subject to customary conditions to closing, including a condition that the number of shares validly tendered prior to the expiration of the offer, together with the shares then owned by Coach and its wholly-owned subsidiaries, represents at least one share more than 50% of all shares then outstanding. The tender offer will expire at 11:59 p.m. EDT on June 23, unless extended.

07:01 EDT Penn West proposes name change to Obsidian Energy - Penn West proposed a name change to Obsidian Energy Ltd, saying "We no longer resemble the old 'Penn West'. This year marks a new beginning for us, and we are excited to turn the page on a new chapter. In recognition of this, we will ask our shareholders to vote in favour of a proposed name change at our upcoming Annual and Special Meeting - a name and set of principles that will guide us as we move forward. Our new company is one based on discipline, relentless passion for the work we do, and accountability to our shareholders, our partners and the communities in which we operate."

06:49 EDT Investors Real Estate acquires multifamily property for $61.5M - IRET announced the acquisition of Oxbo Apartments, a multifamily property in St. Paul, Minnesota, for $61.5M. The newly constructed property is currently 42% leased and consists of 191 rentable units featuring desirable interior finishes, fitness club, rooftop pool deck, sky lounge, club room and concierge services, as well as indoor parking, bike storage, and a dog wash station. The building also features nearly 12,000 square feet of fully leased street level retail space.

06:10 EDT Clean Energy awarded multi-year RNG contract by LA Metro - Clean Energy announced that the Los Angeles County Metropolitan Transportation Authority has awarded Clean Energy a renewable natural gas, or RNG, contract to fuel its fleet of transit buses. The deal calls for Clean Energy to provide Metro its Redeem brand of RNG, the first renewable and commercially available vehicle fuel made entirely from 100% organic waste. The fueling contract begins with a one-year pilot where Clean Energy will provide Redeem to one of Metro's eleven compressed natural gas stations, which are currently operated and maintained by Clean Energy. Each station provides fuel for approximately 200 CNG buses. Execution of an additional option will allow Clean Energy to provide Redeem to the entire fleet of 2,200 natural gas buses for four more years, for an anticipated 38 million gasoline gallon equivalents, or GGEs, each year.

06:04 EDT Big Lots reports Q1 SSS down 0.9%

05:37 EDT Asure Software acquires iSystems, Compass HRM - Asure Software has consummated the acquisitions of iSystems Intermediate Holdco and Compass HRM. In connection with the acquisitions, the company increased the total principal amount of commitments under its credit facility from approximately $32M-$75M, as well as announced its intention to offer and sell shares of its common stock in an underwritten public offering. As a standalone company, iSystems is projected to generate approximately $14 million in revenue and approximately $1.7M in EBITDA in 2017, before realizing potential revenue and cost synergies with Asure. The aggregate consideration of the iSystems acquisition is $55M, which includes $32M in cash, $18M of Asure Software unregistered common stock, and a $5M seller note at 3.5% interest. The aggregate consideration for the Compass HRM acquisition consists of $4.5M in cash and a $1.5M seller note.