Stockwinners Market Radar for June 01, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:10 EDT Alaska Communications pulls compensation proposal after shareholder feedback - Alaska Communications Systems announced that its board will no longer seek shareholder approval to amend the company's 2011 incentive award plan. The proposal has been withdrawn from the agenda for the annual meeting. The annual meeting remains scheduled for June 6. "Following discussions with shareholders, the Alaska Communications board reconsidered the terms of the proposal and determined that withdrawal was appropriate. The board continues to believe that the creation of meaningful equity incentives for employees is important to the company's success," the company remarked. "Although ISS and Glass Lewis both were supportive of the incentive plan proposal, we believe that the better course, at this time, is to withdraw the proposal," noted chairman Ned Hayes.

18:45 EDT Facebook CEO: Withdrawal from Paris agreement 'bad for the economy' - Facebook CEO Mark Zuckerberg said in a post on his social network that President Trump's decision to withdraw from the Paris climate agreement is "bad for the environment, bad for the economy, and it puts our children's future at risk." "For our part, we've committed that every new data center we build will be powered by 100% renewable energy," Zuckerberg said. "Stopping climate change is something we can only do as a global community, and we have to act together before it's too late." Reference Link

18:15 EDT VMware bounces off after-hours lows, clarifies Q1 billings - On its earnings call earlier, VMware clarified a question on Q1 license billings. Earlier, in its Q1 earning press release, the company said, "License revenue plus sequential change in unearned license revenue grew 7% year-over-year. Excluding the impact on unearned revenue from the sale of vCloud Air, license revenue plus sequential change in unearned license revenue grew 10% year-over-year. The company clarified on it earnings call with the following comment: "We made the adjustment to the unearned revenue as a result of the disposition of these [vCloud Air assets] and the sale to OVH. You're exactly right, the change versus the prior period is 10% for license and 12% for total bookings. So overall, we were incredibly pleased with the bookings that we saw in the first quarter. We're also very pleased with the momentum coming out of the first quarter which is why, I think, you see that in our guidance and you see us, obviously, moving our guidance quite nicely for the second quarter as well as the full year. So we feel confident with the business, where it is in the first quarter and early results in the second quarter are solid as well." Shares of VMware are now down 1.89% to $95.56 up off an after-hours trading low of $91.

17:53 EDT Univar subsidiary to be exclusive Canadian provider of Innophos ingredients - Univar Canada, a subsidiary of Univar (UNVR), announced a relationship with Innophos (IPHS) in which Univar will be the exclusive provider of Innophos' specialty portfolio of botanical and dietary enzyme ingredients for the nutritional markets nationwide in Canada.

17:47 EDT Lockheed Martin Aeronautics awarded $244.32M government contract - Lockheed Martin Corp., Lockheed Martin Aeronautics Co., is being awarded a $244,322,400 firm-fixed-price modification to previously awarded delivery order 0132 issued against basic ordering agreement N00019-14-G-0020. This modification provides for the procurement of initial air vehicle spares in support of the F-35 Lightning II for the Air Force, Marine Corps, Navy, non-U.S. Department of Defense participants, and foreign military sales customers. Work will be performed in Fort Worth, Texas; El Segundo, California; Owego, New York; Samlesbury, United Kingdom; Cheltenham, United Kingdom; Nashua, New Hampshire; Torrance, California; Orlando, Florida; Cedar Rapids, Iowa; San Diego, California; Phoenix, Arizona; Melbourne, Florida; Irvine, California; North Amityville, New York; Windsor Locks, Connecticut; Papendrect, The Netherlands; Rolling Meadows, Illinois; and Alpharetta, Georgia. Work is expected to be completed in June 2021. Fiscal 2015 aircraft procurement; 2016 aircraft procurement; 2017 aircraft procurement, non-U.S. DoD participant, and FMS funds in the amount of $241,706,911 are being obligated on this award, $700,000 of which will expire at the end of the current fiscal year. This order combines purchases for the Air Force, Marine Corps, Navy, non-U.S. DoD participants, and the FMS customers. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

17:44 EDT Lockheed Martin awarded $413.85M government contract - Lockheed Martin has been awarded a $413,854,079 firm-fixed-price and fixed-price-incentive-firm contract for Lot 15 Joint Air-to -Surface Standoff Missile-Extended Range production. Contractor will provide 360 JASSM-ER missiles and tooling and test equipment. Work will be performed at Orlando, Florida, and is expected to be complete by Aug. 31, 2020. This award is the result of a sole-source acquisition. Fiscal 2017 missile procurement funds in the amount of $413,854,079 are being obligated at the time of award. Air Force Life Cycle Management Center, Eglin Air Force Base, Florida, is the contracting activity.

17:43 EDT VMware sees FY18 free cash flow approximately $2.44B

17:41 EDT Cliffs Natural CEO 'applauds' Trump's move to withdraw from Paris climate accord - Cliffs Natural Resources issued the following statement regarding President Trump's decision for the withdrawal of the United States' participation in the Paris climate accord. Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said, "Cliffs applauds President Trump for his decision to withdraw from the Paris climate accord. The Paris climate accord is a bad deal for America in its current form. We must understand that staying in the accord is not equivalent to protecting the environment. As a nation, we could no longer accept the restrictions imposed on the United States while other countries are allowed to continue to pollute the world." Goncalves added, "The American iron and steel industry is the most environmentally compliant among the major industrial nations. We exclusively use iron ore pellets in our blast furnaces, while China relies on highly polluting sinter feed iron ore fines from Australia and Brazil to over produce steel, flood the steel markets and weaken the U.S. steel industry. We believe that being pro-environment, pro-industry and pro-business are not contradictory goals."

17:35 EDT Broadcom announces quarterly interim dividend of $1.02 per share

17:32 EDT Five Below reports Q1 SSS increased by 2.6%

16:54 EDT Innospec approves investment in dried surfactants - Innospec announced that it has approved a significant investment in its Performance Chemicals business to increase capacity at the surfactant production facility in Saint Mihiel, France. This strategic investment will focus on increasing Innospec's production of dried anionic surfactants enabling it to support its customers growth in these key growing markets.

16:40 EDT EXCO holders approve 1-for-15 split, share issuance for debt interest - EXCO Resources announced that its board has approved a 1-for-15 reverse share split of its common stock. The Company's shareholders granted authority to the Board to effect the reverse share split at the Company's 2017 Annual Meeting of Shareholders on May 31. The reverse share split is expected to become effective after the market closes on June 12. The Company's common stock will continue to trade on the NYSE under the symbol XCO and is expected to begin trading on a post-split basis when the market opens on June 13. The shareholder and Board approval of the reverse share split and the shareholder approval to issue additional shares of the Company's common stock allow the Company, subject to certain limitations, to pay interest in common shares on both its senior secured 1.5 lien notes and its senior secured 1.75 lien term loans. Harold Hickey, EXCO's Chief Executive Officer, commented, "We believe the successful completion of the reverse share split and the passage of the charter amendment allowing use of shares to pay interest provide a number of immediate benefits. We will be able to comply with NYSE listing standards and significantly reduce our cash interest payments."

16:38 EDT Reata announces 'positive' data from part one of MOXIe trial in FA - Reata Pharmaceuticals announced "positive" data from Part 1 of the company's Phase 2 trial, MOXIe, of omaveloxolone for the treatment of Friedreich's ataxia. The trial demonstrated that in FA patients, omaveloxolone induced Nrf2, which is suppressed in FA patients, and this was associated with improvements in mitochondrial and neurological function. Dose-dependent and time-dependent effects on the modified Friedreich's Ataxia Rating Scale were observed at the pharmacodynamically active doses, and the maximum effect on mFARS was observed at the 160 mg dose level. The Company is planning to initiate Part 2 of MOXIe during the second half of 2017.

16:36 EDT RH: 'Encouraged' by early data on membership growth, renewals - "While still in the early innings of our move from a promotional to a membership model, we are encouraged by the early data in regards to new membership growth and renewals as we anniversary last year's launch of the RH Members Program. We believe the benefits of eliminating the operational chaos and costs that are a result of constant promotions, and positioning our brand around product versus price, will drive high quality growth for years to come," RH commented.

16:34 EDT AeroVironment says Wasp AE drone selected by Australia - AeroVironment announced the selection of the company's Wasp AE small unmanned aircraft system by the Australian Defence Force. The ADF Indefinite Delivery/Indefinite Quantity contract calls for the delivery of Wasp AE systems over a three-year period, as well as training and logistics support for up to ten years, for a total AeroVironment contract value of up to $36.5M.

16:32 EDT International Game completes DoubleDown sale for $825M - International Game Technology announced that it has completed the previously announced sale of its social casino subsidiary, Double Down Interactive LLC, to an affiliate of DoubleU Games Co., Ltd. for a cash purchase price of $825M. IGT expects to use the proceeds from the transaction primarily to reduce debt.

16:31 EDT Apptio names Zillow CFO Philips to board of directors - Apptio (APTI) announced the appointment of Kathleen Philips to its board of directors. Kathleen currently serves as chief financial officer of Zillow Group (ZG) and will bring her expertise to Apptio's Audit and Compensation Committees. Kathleen joined Zillow in 2010 as general counsel, and served as chief operating officer from 2013 to 2015.

16:29 EDT RGM Capital reports 6.13% stake in ShoreTel, says shares 'undervalued' - RGM Capital, which holds a 6.13% active stake in ShoreTel, said in a regulatory filing that it believes the securities of ShoreTel are undervalued that the there are both strategic and operating margin-enhancing opportunities for the company that would meaningfully increase value to shareholders and have initiated a dialogue with the company's management and board regarding those opportunities. In addition, RGM said it may engage in communications with one or more shareholders, officers or directors of the company.

16:25 EDT Sykes Enterprises completes acquisition of certain assets - Sykes Enterprises announced that it has completed the acquisition of the certain assets of the telecommunications services provider. "Since the announcement of the transaction, we have received overwhelmingly positive feedback from clients and employees, who will become part of the greater SYKES family. We believe this transaction will create broader opportunities for the incoming employees, provide access to a world-class business platform for the incoming clients and drive long-term value creation for our shareholders," said Chuck Sykes, President and Chief Executive Officer of Sykes Enterprises, Incorporated. The Company anticipates the transaction to be neutral on a diluted earnings per share basis in 2017 as it focuses on fine-tuning the acquired operations to a level of performance consistent with its approach after having been operated as a non-core asset. The Company plans to update its business outlook regarding the impact of this transaction when it reports its second quarter 2017 financial results.

16:24 EDT Alexion appoints Orloff as R&D chief, Franchini as compliance chief - Alexion Pharmaceuticals (ALXN) announced key additions to its executive leadership team effective June 5. Reporting to CEO Ludwig Hantson will be: John Orloff, Executive Vice President, Head of Research & Development; Anne-Marie Law, Executive Vice President, Chief Human Resources Officer; and Indrani Franchini, Executive Vice President, Chief Compliance Officer. "Alexion's current Head of R&D, will work with Orloff to ensure a smooth transition of Alexion's key pipeline programs, including the registration filings of Soliris for patients with refractory generalized myasthenia gravis and the ALXN1210 clinical development programs," the company noted. Orloff joins Alexion from Novelion (NVLN) where he served as Executive Vice President, Head of Research & Development since November 2016. Franchini joins Alexion from Hess Corporation (HES) where she served as Chief Compliance Officer.

16:21 EDT SIFCO Industries closes Alliance plant location - On May 31, SIFCO Industries' Board of Directors approved the closure of its Alliance, Ohio manufacturing plant. This decision will result in the closure of its Alliance-based plant and will affect approximately 38 employees at this location. Efforts to wind down the operations in Alliance will begin immediately. The decision to close the manufacturing plant was made primarily due to the loss of a key customer in fiscal year 2015, which resulted in the erosion of its sales volume over the past two years.

16:20 EDT lululemon sees FY17 pretax restructuring costs $50M-$60M - "In connection with the restructuring of the ivivva operations, we expect to recognize total pre-tax costs of between $50.0 million and $60.0 million in fiscal 2017, inclusive of $17.7 million recognized during the first quarter of fiscal 2017. This primarily relates to long-lived asset impairment and lease termination costs."

16:19 EDT New York REIT acquires 49.9% additional equity in Worldwide Plaza - New York REIT acquired for approximately $276.7M an additional 49.9% indirect equity interest in Worldwide Plaza, pursuant to the company's previously announced exercise of its option to purchase additional equity interests under the joint venture agreement governing Worldwide Plaza. As a result of the acquisition, the company owns a total indirect equity interest of 98.8% in Worldwide Plaza. The remaining 1.2% indirect equity interest in Worldwide Plaza was retained by the company's joint venture partner pursuant to its rights under the joint venture agreement. Worldwide Plaza is a mixed use building located on Eighth Avenue, between 49th and 50th Streets in Manhattan containing approximately 2.05 million rentable square feet including approximately 1.8 million rentable square feet of office space.

16:17 EDT Univision joins Sinclair, Nexstar to promote broadcast spectrum aggregation - Nexstar Media (NXST) and Sinclair Broadcast Group (SBGI) announced that Univision Local Media is now a party to the memorandum of understanding regarding the establishment of a consortium that will promote spectrum aggregation, innovation and monetization and enhance their abilities to compete in the wireless data transmission sector. The consortium, has agreed to collaborate on a non-exclusive basis and continues to welcome the inclusion of other television broadcasting entities. Together, Nexstar, Sinclair and Univision reach approximately 90% of the country. The consortium, which was jointly announced by Nexstar and Sinclair in March, will promote innovation and develop and explore products and services associated with ATSC 3.0 and monetization opportunities such as spectrum utilization, virtual MVPD platforms, multicast channels, automotive applications, single frequency networks and wireless data applications, among others.

16:16 EDT Rennova Health postpones special stockholder meeting to June 9 - Rennova Health postponed its Special Meeting of stockholders that was to have taken place originally on May 19 and which was subsequently postponed to May 26 and then again to June 2. This third postponement is necessary because a quorum of shares represented at the meeting continues not to be achieved. The new date for the Special Meeting is June 9 at 11:00 a.m. Eastern time. The record date of April 21 remains unchanged. Stockholders who have already voted do not need to recast their votes.

16:14 EDT Lion Biotechnologies doses first patient in Phase 2 LN-145 trial - Lion Biotechnologies announced that the first patient was dosed in its Phase 2 trial of LN-145 for the treatment of patients with recurrent and/or metastatic squamous cell carcinoma of the head and neck. "We are pleased to have dosed our first patient in this trial evaluating LN-145 for the treatment of head and neck cancer. While some patients benefit from the few options available for the treatment of metastatic squamous cell carcinoma of the head and neck, there remains an unmet medical need for those who progress through such therapies," said Dr. Maria Fardis, PhD, MBA, Chief Executive Officer of Lion Biotechnologies. "With this important milestone, patient dosing is now ongoing in two of our three Lion sponsored Phase 2 programs. We look forward to reporting data from these trials."

16:11 EDT Workday sees FY18 subscription revenue $1.705B-$1.72B - "Our fiscal 2018 got off to a great start as we delivered strong top-line growth, and record non-GAAP operating profit and operating cash flow," said Robynne Sisco, chief financial officer, Workday. "Based on our strong first quarter results, we are raising our fiscal 2018 outlook and are now expecting subscription revenue of $1.705 to $1.720 billion, or growth of 32% to 33%. We expect our second quarter subscription revenue to be between $420 and $423 million, or growth of 37% to 38%. Our business model clearly demonstrates strong economics and as we continue to scale, we are confident in our ability to deliver strong future operating margin and cash flow growth."

16:09 EDT Elon Musk: 'Leaving Paris is not good for America or the world' - Following President Trump's announcement of withdrawing from the Paris climate accords, Tesla CEO Elon Musk tweeted that he is "departing presidential councils." "Climate change is real," Musk said. "Leaving Paris is not good for America or the world." Reference Link

16:06 EDT Gabelli reports 5.06% stake in Gencor Industries

16:05 EDT Radiant Logistics acquires strategic partner Dedicated Logistics Technologies - Radiant Logistics has completed the acquisition of the assets of its strategic operating partner Dedicated Logistics Technologies, a privately held company that has historically operated under the company's Service By Air brand in Newark, New Jersey and Los Angeles, California. The company structured the transaction similar to its previous transactions with a portion of the expected purchase price payable in subsequent periods based on the future performance of the acquired operation. On a post-closing basis, Dedicated is expected to transition to the Radiant brand and will combine with existing company owned operations in Newark, New Jersey while maintaining separate facilities Los Angeles, California. The combination is also expected to provide incremental cost synergies associated with the elimination of redundant facilities in New Jersey. Ken Fry will assume the role of General Manager for the newly combined organization that is expected to generate approximately $28.0M per year in revenue.

15:58 EDT General Electric CEO Immelt 'disappointed' with decision on Paris agreement - General Electric Chairman and CEO Jeff Immelt tweeted that he is "disappointed with today's decision on the Paris Agreement. Climate change is real. Industry must now lead and not depend on government." Reference Link

15:38 EDT Supervalu jumps after highlighting new business from client bankruptcy - Supervalu (SVU) jumped Thursday after highlighting benefits from the recent bankruptcies of grocery chains Marsh and Central Grocers. MANAGEMENT COMMENTARY: Speaking at RBC Capital's Consumer and Retail Conference today, Supervalu CEO Mark Gross and CFO/COO Bruce Besanko said recent bankruptcies put "stress on our customers but it also gives an opportunity. When people are under stress, and have made the simple cost cuts that they can do themselves, is then frequently when they feel the need to come talk to us [saying] 'Hey, I've done what I can to cut costs. I see what's happened at Central, I see what's happened at these other places, I have got to reduce costs.' The other piece was Marsh. So we got the Marsh business... Part of what we said to Marsh is, you've got to cut your overhead expenses, you've got to start taking advantage of our back office. I think the lesson there is: Too slow. I think other similarly situated regional chains have seen that lesson, and now their conversation with us is, 'Ok, so what do we need to do to cut our back office expenses?' I think in there is the opportunity." PRICE ACTION: Shares of Supervalu are up 4.6% in afternoon trading.

14:55 EDT GSK, ViiV announce EMA, FDA submissions for two-drug HIV maintenance regimen - GlaxoSmithKline (GSK) and ViiV Healthcare announced regulatory submissions to the European Medicines Agency and U.S. Food and Drug Administration for a single-tablet, two-drug regimen of dolutegravir and rilpivirine for the maintenance treatment of HIV-1 infection. In June 2014, ViiV Healthcare and Janssen Sciences, one of the companies of Johnson & Johnson (JNJ), announced a partnership to investigate the potential of combining dolutegravir and rilpivirine in a single tablet in order to expand the treatment options available to people living with HIV. ViiV Healthcare is the global specialist HIV company majority-owned by GSK, with Pfizer (PFE) and Shionogi Limited as shareholders.

14:49 EDT UPS plans new hub in Greater Phoenix area - UPS announced plans for a new package processing hub in Goodyear, Arizona. "The phased hub construction modifies a 618,000 square foot structure on 140 acres in the PV303 Development. A portion of the building is expected to begin operating later this year in time for the busy holiday season... With its planned completion in late 2019, the new facility will showcase more than 970,000 square feet of advanced operational technologies and sortation equipment under roof and bring more than 1,500 jobs to the Goodyear area... The UPS investment of more than $180M is part of increased capital commitment globally to match growth with an agile and efficient transportation, processing and information network across the supply chain," the company said.

14:45 EDT Spark Energy director acquires 2,400 common shares - In a regulatory filing, Spark Energy director W. Keith Maxwell III disclosed the acquisition of 2,400 common shares of the company at a price of $43.80 per share. The transaction, dated May 31, 2017, brings Maxwell's toal direct common stock ownership to 347,965 shares.

14:39 EDT CSRA wins $61M contract from U.S. Air Force - The U.S. Air Force has awarded a five-year, $61M contract to CSRA for support of its global Intelligence, Surveillance, and Reconnaissance Mission. The contract allows CSRA to continue its twenty year legacy providing support to the Department of Defense and the U.S. Air Force on this critically important ISR-enabling capability. The contract will allow CSRA to provide engineering, systems integration, operational scheduling services, solutions, and budget & resources support to HQ United States Air Force Deputy Chief of Staff for ISR and the Air Combat Command Directorate of Plans and Programs. The period of performance for this effort, known as FIRE, is 5 years and will be performed at the Pentagon, Joint Base Langley-Eustis, Hanscom AFB, two other Continental United States locations, and two overseas locations.

13:53 EDT Tenet, Humana amend effective dates of multi-year, national agreement - Tenet Healthcare (THC) announced an amendment to the effective dates of its multi-year, national agreement with Humana (HUM) previously announced on May 1. Effective today, June 1, all of Humana's members covered under its commercial, Medicare and Medicaid health plans, as well as those who purchased Humana's insurance coverage on the Healthcare Insurance Marketplace, will be in-network with all Tenet providers, including its hospitals, outpatient centers and physician clinics. "We are pleased to have revised the terms of our agreement with Humana, which we believe is in the best interests of our patients and the communities we serve," said Clint Hailey, senior VP and chief managed care officer of Tenet Healthcare.

13:37 EDT American Electric, Great Plains partnership plans new transmission project - Transource Energy, a partnership between American Electric Power (AEP) and Great Plains Energy (GXP), announced plans to develop the Independence Energy Connection, a new overhead electric transmission project in Pennsylvania and Maryland. PJM Interconnection, the regional transmission organization responsible for managing the high-voltage electricity grid for 13 states, including Maryland and Pennsylvania, identified concerns with the delivery of electricity to the region and reviewed solutions proposed by competitive transmission companies. PJM selected Transource's solution to address the market-efficiency issues and awarded construction of the project to the company in August 2016, the companies noted. Totaling $320M, the project will connect to two existing 500-kilovolt transmission lines in Pennsylvania and provide two new additional pathways for electricity to alleviate electric gridlock. IEC is expected to be completed in mid-2020.

13:27 EDT Wal-Mart testing associate delivery service for online orders - Wal-Mart said in a blog post that it is testing an associate delivery service. The company said that the idea of having store associates deliver online orders to customers' doors can cut shipping costs and get packages to their final destinations faster and more efficiently as well as create a "special win-win-win" for customers, associates and the business. "It just makes sense: We already have trucks moving orders from fulfillment centers to stores for pickup," Wal-Mart said. "Those same trucks could be used to bring ship-to-home orders to a store close to their final destination, where a participating associate can sign up to deliver them to the customer's house. The best part is this gives our own associates a way to earn extra income on their existing drive home." The service uses a GPS built into a proprietary app. The post noted that associates are "fully in control" of their experience, and they can opt out of participating if they choose. The company is starting the test with three test stores; two in New Jersey and one in northwest Arkansas. Wal-Mart added that the response from associates and customers so far has been "great." Reference Link

13:20 EDT Vertex reaches reimbursement pact with Ireland for ORKAMBI - Vertex Pharmaceuticals announced it has reached an agreement with the Health Service Executive, HSE, in the Republic of Ireland to fund ORKAMBI for all of the approximately 500 people in Ireland with cystic fibrosis ages 12 and older who have two copies of the F508del mutation. The agreement also expands access to KALYDECO for children ages 2 to 5 with any approved gating mutation and to people ages 18 and older who have an R117H mutation. These reimbursements are effective immediately. This innovative long-term agreement also enables rapid access for people with these mutations if the labels of the existing medicines are expanded to cover additional age groups and if new Vertex medicines are approved for these populations. "We are pleased that these additional Irish CF patients will finally join the thousands of others around the world who are already benefitting from ORKAMBI and KALYDECO," said Simon Bedson, Senior Vice President and International General Manager at Vertex. "We thank the leaders in Ireland for working with us toward an innovative reimbursement agreement that provides access to these important medicines and also recognizes the need for Vertex's continued investment in the research and development of new medicines for those people with CF, many of whom are still waiting for a treatment for the underlying cause of the disease." CF is a rare and life-shortening genetic disease caused by a defective or missing cystic fibrosis transmembrane conductance regulator protein resulting from a mutation in the CFTR gene. ORKAMBI and KALYDECO are the first two medicines that treat the underlying cause of CF. Ireland has the highest rate of CF in the world, with approximately one in 19 Irish people carrying a disease-causing mutation in one copy of the CFTR gene. In addition to Ireland, ORKAMBI is available to all eligible patients in Austria, Denmark, France, Germany, Luxembourg and the United States. People in 27 countries are benefitting from KALYDECO. Vertex remains actively involved in additional reimbursement discussions globally, with the goal of making these transformative medicines available to all eligible patients as soon as possible.

13:18 EDT Sherwin-Williams completes divestiture of Valspar assets - Sherwin-Williams (SHW) announced that it has completed its divestiture of the assets related to Valspar's (VAL) North American Industrial Wood Coatings business to Axalta Coatings Systems (AXTA) for $420M in cash. Valspar's North American Industrial Wood Coatings business had revenues of approximately $225M in 2016. Sherwin-Williams divested the business as a result of the regulatory reviews by the United States Federal Trade Commission and Canadian Competition Bureau of the acquisition of Valspar by Sherwin-Williams.

13:16 EDT Vivendi confirms Arnaud de Puyfontaine named Telecom Italia exec chairman - Vivendi (VIVHY) confirmed that Arnaud de Puyfontaine was appointed as Executive Chairman of Telecom Italia (TI) at the company's board meeting. "As Telecom Italia's largest shareholder, Vivendi intends to pursue a long term-policy focused on development in content convergence," Vivendi said. "The Group welcomes the appointment of Arnaud de Puyfontaine, who will continue to serve as Vivendi's Chief Executive Officer."

13:13 EDT Sturm, Ruger moves up following release of May NICS gun background check data

13:04 EDT Praxair trading resumes

12:57 EDT European agency fines Moody's EUR1.24M for credit ratings breaches - The European Securities and Markets Authority has fined Moody's Deutschland EUR750,000 and Moody's Investors Service EUR490,000, and issued a public notice, for two negligent breaches of the Credit Rating Agencies Regulation. "ESMA found that Moody's Germany and Moody's UK negligently committed two infringements of the CRAR regarding their public announcement of certain ratings and their public disclosure of methodologies used to determine those ratings. These failures concern nineteen ratings issued between June 2011 and December 2013 for nine supranational entities including the European Investment Bank, the European Investment Fund, the European Stability Mechanism, the European Financial Stability Facility and the European Union," ESMA said. Reference Link

12:49 EDT Praxair, Linde sign agreement for merger of equals - Linde (LNEGY) announced that its executive board, with approval of the supervisory board, signed a legally binding business combination agreement with Praxair (PX) governing the terms and conditions of a merger of equals between the two companies. The BCA provides for a combination of the businesses of the Linde group and the Praxair group under a publicly traded new holding company, which will bear the Linde name. The new holding company will be incorporated in Ireland while its principal governance activities, including board meetings, will primarily be based in the United Kingdom. Group corporate functions will be appropriately split between Danbury, Connecticut and Munich, Germany. The company will apply for an admission for the trading of its shares on the New York Stock Exchange and on the Frankfurt Stock Exchange and will seek inclusion in the S&P 500 and the DAX 30 indices. Praxair will become a subsidiary of "New Holdco" through a merger and Linde will become a subsidiary of New Holdco through a public exchange offer to all shareholders of Linde. Linde shareholders will be offered 1.54 shares in New Holdco for each Linde share and Praxair shareholders will receive one share in New Holdco for each Praxair share. Upon completion, former Praxair shareholders and former Linde shareholders will each own approximately 50% of the outstanding shares of New Holdco. The membership in the board of directors of New Holdco will also be split 50:50. Linde's current Chairman of the Supervisory Board, Wolfgang Reitzle, will become Chairman of the new holding company's board. Praxair's current Chairman and CEO, Steve Angel, will become CEO and a member of the board of New Holdco. The management team of New Holdco will also be appropriately split between Linde and Praxair executives. The combined company is expected to benefit from approximately $1.2B in annual synergies and cost reductions, targeted to be achieved in approximately three years following closing. The figures include existing cost reduction programs already initiated by the two companies, including an amount of approximately $310 million from Linde's existing LIFT program. "Linde understands that the combined company intends to achieve the total amount of synergy and efficiency savings irrespective of the allocation to the respective underlying drivers," the company noted. The expected one-time costs of achieving these cost reductions and synergies are estimated to be approximately $1B including transaction costs. The consummation of the business combination is subject to certain conditions, including the acceptance of the exchange offer to Linde shareholders by a minimum of 75 % of the outstanding Linde shares. Closing of the transaction is expected to occur in the second half of 2018.

12:34 EDT Baidu, Bosch sign strategic cooperation agreement on smart mobility - Bosch announced that it and Baidu signed a strategic cooperation framework agreement on smart mobility in China. "As a cooperation partner, Bosch will be involved in Baidu's 'Apollo' project, which aims to provide open, comprehensive, and reliable software for the development of automated vehicles. Among other things, Bosch will contribute its sensors and the 'Bosch Road Signature' for vehicle localization. Moreover, Bosch and Baidu will provide their technical expertise to support the drafting of legislation relating to automated driving in China," the company said. "The two companies will upgrade the intelligent systems of the automobile industry and create an entire new ecosystem for intelligent and autonomous driving cars," said Baidu. Reference Link

12:20 EDT Axalta Coating completes purchase of Valspar unit for $420M - Axalta Coating Systems (AXTA) has completed its previously announced acquisition of The Valspar Corporation's North American Industrial Wood Coatings business. Valspar divested the business in connection with the antitrust approval of its acquisition by The Sherwin-Williams Company (SHW). The purchase price for the transaction is $420M, subject to certain adjustments set forth in the Asset Purchase Agreement. The acquired business had net sales of approximately $225M in 2016. Axalta expects the transaction to be accretive to earnings in the first full year, but less accretive to near-term results including the anticipated integration costs to be incurred largely in 2017.

12:11 EDT Praxair trading halted, news pending

11:50 EDT Signet Jewelers Chairman reports purchase of 2,090 shares - Signet Jewelers Chairman H. Todd Stitzer disclosed in a regulatory filing his purchase of 2,090 shares of company stock on May 31 at an average price of about $47.91 per share.

11:45 EDT ConocoPhillips targets double-digit returns to shareholders annually - In a company slides presentation, the company noted that it has reduced its breakeven price from above $75/BBL to less than $50/BBL. The company has a $16B plus asset sale program to fund additional debt reduction and buybacks. ConocoPhillips is focused on free cash flow generation and returns, not absolute growth.

11:21 EDT GE Healthcare says on track 'or better' on 18% margin goal by 2018 - GE Healthcare President and CEO John Flannery says softness in U.S. the "biggest delta" in 2017 vs. 2016, but will "sort itself over time." Says Life Sciences business "fantastic." Says emerging markets business "growing nicely." Says U.S. market growth has been "soft" in the first few months of the year, sees "flat" market this year. Notes "wait and watch" about legislative process. Says on track "or better" on 18% margin goal by 2018. Says "quite bullish" on digital opportunities. Sees "moderate" bolt-on purchases, some "selective" sales. Comments taken from the Bernstein 33rd Annual Strategic Decisions Conference.

11:05 EDT Boeing reports no new orders in weekly update - Boeing reported no new orders in the weekly update posted on its website. Year to date information: 737 net orders: 72 NG and 93 MAX; 777 net orders: 9 777 and 0 777X.

10:56 EDT Applied Materials says company's markets more attractive, less risky - Says there are big barriers to entry for many of the company's products. Says if tax laws change will have access to foreign cash which will result in a better dividend payout.

10:45 EDT Volkswagen reports May U.S. sales up 4.3% to 30,014 units - Volkswagen of America reported sales of 30,014 units delivered in May, a 4.3% increase over May 2016.

10:42 EDT American Express: Hilton deal has 'no bearing' on Starwood co-brand deal

10:37 EDT Applied Materials says not a lot visibality into fiscal Q1 shipments - Says 2018 will be up due to strong DRAM, NAND. logic and Foundry.

10:33 EDT American Express says 'focused' on achieving 10%+ EPS, 6% revenue growth - CEO Ken Chanault says "comfortable" with ability to achieve guidance. Says to become exclusive co-brand partner to Hilton (HLT), which won't have a material impact on earnings. Says company's performance in 2016 and into 2017 has helped shift view of investors, notes that instead of receiving questions about viability of core model, focus is now on execution. Says improving merchant acceptance is "critical." Says Platinum had its best year in terms of spending, cards, in 2016. Says "in early innings" of Platinum changes. Says co-brands make up about 15% of total Amex billings. Says "encouraged" by performance in Q1, "but we've got three more quarters to go." Says management team focused on achieving 6% revenue growth, 10%+ EPS growth scenario. American Express is up 1.1% to $77.76 in morning trading.

10:30 EDT Applied Materials says that company has 'derisked', not foundry dependent - Says sees continued strength in display through 2021. Says share of memory is much larger than prior years. Says company has changed financial model. Says fixed cost structure in G&A is way down. Says will be higher than 20% for free cash flow for sustainable future.

10:24 EDT PSEG files for fall gas supply rate increase - Public Service Electric and Gas announced that is has filed for a "modest increase" in residential gas bills that would take effect this fall. Under the gas supply filing made today, a residential gas heating customer who uses 165 therms in a winter month and 1,010 therms annually would pay about $5 - or 3.6% more in a winter month. Under the proposal, the rate residential customers pay will increase to 37c from 34c per therm. "If approved by the New Jersey Board of Public Utilities, this would be the first gas supply rate increase in nine years," PSE&G said.

10:22 EDT Applied Materials says 'Display' could be up next year - Says operating expenses probably will be up next year. Comments from Cowen and Company 45th Annual Technology, Media & Telecom Conference.

10:10 EDT Honda reports May U.S. sales up 0.9% to 148,414 vehicles - American Honda Motor reported total May sales of 148,414 Honda and Acura vehicles, an increase of 0.9% over May 2016. Honda Division rose 0.7% on sales of 134,475 units, with trucks up 5.6% on sales of 63,650, and cars down 3.4% on sales of 70,825. Acura Division sales were up 2.8% in May, on sales of 13,939 vehicles.

10:07 EDT Roche announces FDA approval of Ventana ALK CDx Assay - Roche (RHHBY) announced US Food and Drug Administration approval of the VENTANA ALK CDx Assay as a companion diagnostic to identify ALK-positive non-small cell lung cancer patients eligible for treatment with the Novartis (NVS) drug ZYKADIA. The VENTANA ALK Assay is the only immunohistochemistry test approved by the FDA as a companion diagnostic for ZYKADIA.

10:05 EDT Toyota reports May U.S. sales 0.5% to 218,248 units - Toyota Motor North America reported its U.S. May sales of 218,248 units, a decrease of 0.5% from May 2016 on a volume basis. With one more selling day in May 2017 compared to May 2016, sales were down 4.5% on a daily selling rate basis. Toyota division posted May sales of 192,847 units, up 0.1% on a volume basis, and down 3.9% on a DSR basis. Lexus posted sales of 25,401 vehicles in May 2017, down 4.8% on a volume basis, and down 8.6% on a DSR basis.

10:04 EDT Toyota reports May U.S. sales 0.5% to 218,248 units

09:50 EDT Citron Research positive on BlackBerry, sees 'wow' move or buyout ahead - Shares of BlackBerry (BBRY) are up 6% in early trading after short-leaning research firm Citron Research mentioned the stock positively, comparing it favorably to investor and analyst favorite Nvidia (NVDA). BlackBerry has "virtually completed its transition from hardware to software," leaving its stock poised for "a double" or a potential takeover from a company such as Qualcomm (QCOM), Nvidia or NXP Semiconductors (NXPI), contends Citron in its new report. Reference Link

09:45 EDT FCA US reports May sales down 1% to 193,040 units - FCA US LLC reported sales of 193,040 units, a 1% decrease compared with sales in May 2016. In May, retail sales of 152,227 units were up 1% compared with the same month in 2016, and represented 79% of total sales. Fleet sales of 40,813 units were down 7% year over year as FCA US continues its strategy of reducing sales to the daily rental segment. Fleet sales represented 21% of total May sales.

09:36 EDT General Motors sees May U.S. light vehicle SAAR of 16.6M units - GM sees calendar year to date U.S. industry light vehicle SAAR of 17.0M.

09:32 EDT General Motors reports May U.S. sales down 1.3% to 237,364 vehicles - General Motors reported May U.S. retail sales of 191,388 vehicles, up slightly from last year. GM's U.S. Commercial sales in May were up 14%, while Government sales jumped 21%. Daily rental sales were down 36%, as planned. GM is on track to deliver its third consecutive year-over-year decline in daily rental volume, it noted. GM's May total sales were 237,364 vehicles, down 1.3% from last year.

09:30 EDT Sherwin-Williams sees Valspar acquisition immediately accretive to earnings - Sherwin-Williams (SHW) announced it has completed its acquisition of Valspar (VAL). Under the terms of the merger agreement, Valspar shareholders will receive $113 per share in cash. In connection with completion of the transaction, Valspar common stock ceased trading prior to market opening and will be delisted from the New York Stock Exchange. As previously communicated, Sherwin-Williams expects to achieve $320M of annual run-rate synergies in the areas of sourcing, SG&A and process and efficiency savings, within three years. The company also expects this transaction to be immediately accretive to earnings, excluding one-time costs, and to meaningfully increase the company's operating cash flow.

09:22 EDT On The Fly: Pre-market Movers - UP AFTER EARNINGS: Palo Alto Networks (PANW), up 12.8%... Box (BOX), up 6.4%... Ciena (CIEN), up 11.8%... Dollar General (DG), up 3.5%. ALSO HIGHER: Skechers (SKX), up 3.5% after being upgraded to Buy from Neutral at Citi... ChinaCache (CCIH), up 19.2% after receiving the Content Delivery Network Business Operating License from the Ministry of Industry and Information Technology of the People's Republic of China... Deere (DE), up 3.1% after signing an agreement to acquire Wirtgen Group... Pinnacle Foods (PF), up 5.9% after Reuters reported that Conagra (CAG) approached the company about a possible takeover... Conagra is 4.4% higher following the report. DOWN AFTER EARNINGS: Express (EXPR), down 23.7%... Hewlett Packard Enterprise (HPE), down 1.9%... Semtech (SMTC), down 6.4%. ALSO LOWER: Air Transport Services (ATSG), down 4.4% after its 3.806M share Spot Secondary priced at $22.75.

09:15 EDT Sunrun expands home solar service to Texas - Sunrun is expanding its home solar service to Texas. Sunrun also announced an offer with ENGIE Resources to bundle retail energy, inclusive of a 20-year net metering agreement, with its residential retail energy company, Think Energy. Sunrun customers in Texas will have Think Energy as their Retail Energy Provider enabling them to get retail energy credit for every kilowatt of excess generation that flows to the grid, access that credit when they consume energy from the grid, and purchase energy at a fixed rate when they consume in excess of their solar generation. Sunrun will offer Texas homeowners the option to purchase their solar system, lease, or finance it through a third party loan arranged by Sunrun.

09:14 EDT Ocera Therapeutics initiates Phase 2a study of OCR-002 for cerrosis - Ocera Therapeutics announced the dosing of the first patients in Part Two of a Phase1/Phase 2a clinical trial of oral OCR-002. Oral OCR-002 is a validated ammonia scavenger in development for use as a step-down therapy and for chronic use to maintain remission of hepatic encephalopathy, a neurocognitive disorder associated with serious liver disease. The Phase 2a portion of the trial is designed to evaluate the steady-state pharmacokinetics and pharmacodynamics of three times daily administration of three daily dose regimens of OCR-002 tablets in 18 patients with Child-Pugh1 B cirrhosis. The company expects to complete the trial and report top-line results by the end of 2017.

09:09 EDT Pain Therapeutics candidate for Alzheimer's featured in publication - Pain Therapeutics announced a technical publication authored by its collaborators that demonstrates a potential new therapeutic approach to treat Alzheimer's Disease with PTI-125, a new drug candidate. study is published in the current issue of Neurobiology of Aging,Transgenic mice with genetic mutations for Alzheimer's disease were treated with PTI-125. After two months of treatment, the mice showed significant improvements in working memory, spatial ability and social behavior. Their brains also showed significant improvements in multiple Alzheimer's neuropathologies. An Investigational New Drug application to test PTI-125 in humans is on-track for submission to the FDA in Q3.

09:05 EDT Herbalife announces transition of Richard Goudis as new CEO - Herbalife announced the official transition of Richard P. Goudis as the new CEO, in succession to Michael O. Johnson, who will now assume the position of Executive Chairman of the Company.

09:03 EDT BAE Systems teams with QinetiQ to pursue electric drive on combat vehicles - BAE Systems has signed a teaming agreement with QinetiQ to incorporate the latest technology for electric drive mobility systems on combat vehicles. This agreement combines BAE Systems' capabilities as a vehicle designer, developer, manufacturer, and systems integrator with the electric drive expertise offered by QinetiQ, a leading UK science and engineering company operating primarily in the defense, security, and aerospace markets.

09:01 EDT Kadmon reports data demonstrating potential of GLUT inhibitors in autoimmune - Kadmon Holdings announced preclinical data demonstrating the potential of the Company's new glucose transporter inhibitors to treat autoimmune and inflammatory conditions. These are the first findings to be presented from Kadmon's GLUT inhibitor program, which will be shared as a poster at the Keystone Symposia on Integrating Metabolism and Immunity today in Dublin, Ireland. Unlike normal cells, activated immune cells are highly reliant on glucose uptake for their activity," said Masha Poyurovsky, PhD, Vice President, Head of Molecular Signaling at Kadmon and senior author of the study. "We confirmed that by cutting off this nutrient supply for immune cells, we can selectively affect pro-inflammatory activity to rebalance the overactive immune response and potentially resolve inflammation."

09:00 EDT Land & Buildings comments on preliminary voting results at Taubman meeting - Land & Buildings Investment Management issued the following statement regarding the preliminary voting results from the Taubman Centers 2017 Annual Meeting of Shareholders held today: "Land and Buildings expresses gratitude to all Taubman shareholders that voted to support Land and Buildings' case for change at Taubman. Although Taubman announced that all of its directors were re-elected at the Annual Meeting, a majority of non-Taubman family shareholders supported Land and Buildings nominees. This included near-unanimous support from active managers. We believe this underscores the urgent need for new voices in the Company's boardroom. Based on the preliminary results, if the Taubman family voting position was limited to 8.23%, as we believe it legally should be under the Company's Charter, our independent and highly-qualified nominees - Charles Elson and Jonathan Litt - would have been elected to the Board. This is why we are proceeding with our filed Complaint seeking Declaratory and Injunctive Relief in the United States District Court for the Eastern District of Michigan, against Taubman. As long as the Taubman family's 30% voting interest persists, shareholder voices will never be truly heard. Land and Buildings also believes it is important to note the incremental steps taken by the Company following our public engagement, including: the appointment of a Lead Independent Director, the addition of Cia Buckley Marakovits to the Board, the pledged "refreshment" of the Board, and Taubman's commitment to de-stagger and annually elect directors. While we continue to believe these changes are not enough to protect the rights of Taubman shareholders and should have been implemented absent shareholder pressure, they at least reflect the impact that shining a spotlight on poor corporate governance and oversight can have. We hope and expect that this process will bring a new and re-invigorated sense of accountability at the Board level."

08:55 EDT U.S. Steel appoints Pipasu Soni as Interim CFO - United States Steel announced new roles and responsibilities for members of the company's executive leadership team, effective immediately. Pipasu Soni, currently the company's VP - Finance, will serve as Interim CFO in the role vacated by David Burritt upon his appointment as CEO, until an active search for a permanent CFO is completed. VP & Chief Supply Chain Officer Christine Breves will become Senior VP - Supply Chain & Manufacturing Support. She will continue as Chief Supply Chain Officer, and in her new role, will also oversee Asset Revitalization & Manufacturing Excellence, Information Technology, and Business Support. Scott Buckiso, currently VP - European Solutions will advance to Senior VP - European Solutions.

08:52 EDT Boeing looking for 'selective, targeted' acquisitions to fill-out capabilities - Boeing Chairman, President and CEO Dennis Muilenburg, speaking at the Bernstein Strategic Decisions Conference, said the company's focus for M&A is for "selective, targeted" acquisitions to fill-out capabilities in areas like autonomous and services.

08:43 EDT Valspar trading halted, news dissemination

08:38 EDT Visa CEO: 'What Amazon has done is nothing short of extraordinary' - Says Amazon "an important partner of ours." Says best served "by making sure we stay close to them."

08:37 EDT Visa views China as medium- to long-term play, not factoring into 2017 plan

08:35 EDT Muilenburg says Saudis showed 'broad based' interest in Boeing offerings

08:33 EDT U.S. Steel names Barry Melnkovic Chief Human Resources Officer - United States Steel appointed Barry Melnkovic as Vice President and Chief Human Resources Officer. Melnkovic, who will be based at U. S. Steel's Pittsburgh headquarters, will report to Burritt and join the company's executive management team. Previously, Melnkovic served as Executive Vice President and Chief Human Capital Officer for National Railroad Passenger Corporation / Amtrak as well as serving as an Officer and member of the company's Executive Committee.

08:32 EDT Dextera Surgical files 510(k) for MicrCutter 5/80 expanded indications - Dextera Surgical, a company developing and commercializing the MicroCutter 5/80 stapler, announced that it has filed a 510(k) with the U.S. Food and Drug Administration for expanded indications for use. The company seeks to expand the indications for the MicroCutter to include liver, pancreas, kidney and spleen surgery. Currently, the MicroCutter 5/80 Stapler and MicroCutter 30 Reloads are intended for transection and resection in multiple open or minimally invasive urologic, thoracic, and pediatric surgical procedures, as well as application for transection, resection, and/or creation of anastomoses in the small and large intestine, and the transection of the appendix. Dextera Surgical is seeking to expand these indications for use to include use in the liver, pancreas, kidney and spleen surgical procedures.

08:31 EDT Wells Fargo's head of Wealth and Investment Management to retire - Wells Fargo & Company announced that David M. Carroll, senior executive vice president and head of Wealth and Investment Management, will retire after nearly 38 years with the company. Effective July 1, Jonathan G. Weiss, the company's current head of Wells Fargo Securities, will succeed Carroll to become senior executive vice president and head of Wealth and Investment Management, which provides a full range of personalized wealth management, investment, and retirement products and services to individual and institutional clients.

08:29 EDT Visa CEO Kelly says relationship with Alipay 'TBD' - Visa (V) CEO Al Kelly says "We like our competitive position." Says "open" to new players that can add value to payments ecosystem. When asked whether Alipay is a "friend or foe," Kelly says the relationship is "TBD," adding that he thinks they are "operating in an uneven playing field" in China. Alipay is operated by Ant Financial Services Group, a related company of Alibaba Group (BABA).

08:20 EDT DaVita's HealthCare Partners to acquire Magan Medical Clinic - DaVita Medical Group division HealthCare Partners and Magan Medical Clinic, a multispecialty medical group in Los Angeles County's San Gabriel Valley, entered into a definitive agreement by which Magan will join HealthCare Partners. Financial terms were not disclosed. Magan Medical Clinic's 55 providers serve more than 20,000 managed care patients. The transaction is expected to close by mid-2017.

08:19 EDT Boeing CEO says having 'constructive conversations' about Max 10 - Boeing CEO says the company is having "constructive conversations" with customers about the Max 10, though no decision has been made. It is a "nearer-term" decision, Muilenburg added. Boeing CEO Dennis Muilenburg is presenting at the Bernstein Strategic Decisions Conference.

08:18 EDT AMAG Pharmaceuticals enrolls first patient in Phase 2b/3a study of preeclampsia - AMAG Pharmaceuticals announced that Velo Bio has enrolled the first patient in a Phase 2b/3a study designed to evaluate the efficacy and safety of digoxin immune fab, a polyclonal antibody in development for the treatment of severe preeclampsia in pregnant women. Following completion of the study, AMAG has the exclusive option to acquire the worldwide rights to the DIF program from Velo Bio, a privately held life sciences company. AMAG believes the results of the DIF study may form the basis for a new drug application with potential approval of DIF by the FDA in 2020, assuming a submission in 2019. DIF has been granted both orphan drug and fast-track review designations by the FDA for use in the treatment of severe preeclampsia and has four issued patents. The costs associated with the Phase 2b/3a trial are to be incurred by Velo. If AMAG exercises its option to acquire DIF, the company will pay an option fee and a potential U.S. approval milestone, totaling up to $65M.

08:16 EDT Boeing CEO sees R&D, capital spending as 'very level' over next several years

08:15 EDT Domino's Pizza subsidiaries to complete recapitalization transaction - Domino's Pizza yesterday announced that certain of its subsidiaries intend to complete a recapitalization transaction, which will include the refinancing of a portion of their outstanding securitization debt with a new series of securitized debt. The company's subsidiaries intend to issue approximately $1.8B of new securitized notes and to use the proceeds to prepay and retire outstanding 2012 Notes at par, to pay transaction fees and for general corporate purposes. The consummation of the offering is subject to market and other conditions and is anticipated to close in the third quarter.

08:14 EDT ChinaCache receives CDN license from Chinese government - ChinaCache announced that it has received the "Content Delivery Network, or CDN, Business Operating License" from the Ministry of Industry and Information Technology of the People's Republic of China. Under the terms of the license, the Company is allowed to operate four types of Type I valued-added telecom businesses including CDN business in all parts of China, Internet Data Center, or IDC, business in four municipalities directly under the authority of the central government and in fourteen other cities, VPN business in two municipalities directly under the authority of the central government and six other cities, and Internet connection business in four municipalities directly under the authority of the central government and in thirteen provinces.

08:12 EDT UniFirst appoints executive management committee - UniFirst Corporation announced that following the death of Ronald D. Croatti, the Company's Chairman, President and CEO, the Board of Directors has appointed an Executive Management Committee. The Executive Management Committee will lead the Company on an interim basis and direct its strategies, operations and business activities while the Board conducts the process of selecting a new CEO. The committee will consist of the senior executive and management team of the Company, all of whom have extensive tenures with UniFirst, and the administrative chair of the committee will be Steven S. Sintros, the Company's Senior Vice President and CFO. The Board will receive regular updates from, and provide strategic guidance to, the committee.

08:12 EDT Duluth Holdings says CFO Mark DeOrio to retire - Duluth Holdings announced that CFO Mark DeOrio plans to retire at the end of calendar year 2017. Mr. DeOrio will remain in his role until the next chief financial officer is appointed, and he will then assist with his successor's transition until his retirement. Mr. DeOrio has been the Company's CFO since August 2010.

08:11 EDT Boeing CEO says continuing to see strong narrowbody demand

08:10 EDT CenturyLink and Level 3 announce post-acquisition CEO succession plan - CenturyLink (CTL) announced that upon closing of the CenturyLink - Level 3 (LVLT) acquisition, Jeff Storey, currently president and CEO of Level 3, will join CenturyLink as its president and COO. After the closing Glen F. Post III will remain CEO of CenturyLink. It is expected that Storey will succeed Post as CEO of CenturyLink effective Jan. 1, 2019 and that Post will then become executive chairman of the company's board of directors. The two companies continue to expect to close the transaction by Sept. 30. CenturyLink vice chairman of the board Harvey P. Perry has been appointed chairman of the board. He replaces William A. Owens, who retired from the board on May 24. W. Bruce Hanks, a member of the CenturyLink board of directors, has been named vice chairman, also effective immediately. Storey is one of four Level 3 board members who will join the CenturyLink board at closing.

08:09 EDT Eleven Biotherapeutics: DSMB recommends Vicinium Phase 3 trial continuation - Eleven Biotherapeutics announced that its Phase 3 registration trial of Vicinium in non-muscle invasive bladder cancer, or NMIBC, has exceeded 50% enrollment and that the independent Data and Safety Monitoring Board, or DSMB, for the trial has recommended that the trial continue as planned. The DSMB reviewed available data to assess the risk/benefit to patients on drug and recommended that the trial continue without modification. The company expects to complete patient enrollment in the second half of 2017 and to report 3-month data in the second quarter of 2018.

08:08 EDT Premier releases nine policy recommendations to address rising drug costs - Premier released nine policy recommendations designed to stimulate competitive markets for pharmaceuticals. Premier believes these reforms "provide a holistic approach to achieving a high-quality, cost-effective pharmaceutical industry, while correcting regulatory loopholes that impede competition and directly lead to unsustainable price increases." The nine recommendations, which can be implemented in combination or as stand-alone reforms, include: Speed the FDA's drug approval process; Prohibit manufacturers from misusing the Risk Evaluation and Mitigation Strategy, or REMS, to limit competition; Eliminate pay-for-delay deals; Ensuring access to biosimilars; Prevent abuses of orphan drug status; Crack down on product evergreening; Prevent abuse of Citizens Petitions; Ensuring safe, decades-old drugs are still available to consumers at reasonable prices; Generic drug labeling. Reference Link

08:05 EDT Empire Resorts announces retirement of CEO Joseph D'Amato - Empire Resorts announced that its CEO Joseph D'Amato has retired from the company and the Board of Directors, effective immediately. The company also announced that its current President and COO Ryan Eller has been appointed CEO, and will retain the title of President. In his new role, Eller will lead Empire in fulfilling the vision of Resorts World Catskills as the preeminent destination for gaming and tourism in the Northeast.

08:03 EDT Intel announces three-year partnership with MLB - Intel announced a three-year partnership with Major League Baseball to bring virtual reality experiences to baseball fans with Intel True VR. Starting June 6, Intel will livestream one weekly out-of-market game every Tuesday via the Intel True VR app, in addition to featuring post-game highlights and on-demand replays of each game.

08:02 EDT IHS Markit to join S&P 500 Index - IHS Markit announced it has been selected for the S&P 500 index effective at the open of trading on Friday, June 2, 2017.

08:00 EDT Teva to present 21 abstracts at International Congress of Parkinson's Disease - Teva Pharmaceutical announced data for deutetrabenazine tablets for the treatment of tardive dyskinesia and chorea associated with Huntington disease, and pridopidine for the treatment HD will be presented in 18 poster presentations at the 21st International Congress of Parkinson's Disease and Movement Disorders in Vancouver, BC, Canada from June 4-8. "Teva has an extensive CNS franchise in movement disorders and neurodegenerative conditions, and we are pleased to share these important data in tardive dyskinesia and Huntington disease with worldwide experts in movement disorders. We look forward to being a part of research advancements in the field," said Michael Hayden, M.D., Ph.D., President of Global R&D and Chief Scientific Officer at Teva. "The broad range of data to be presented at the meeting underscores our commitment to develop meaningful therapeutic options for patients."

07:51 EDT Ionis Pharmaceuticals earns $50M from Biogen for Spinaza approval in Europe - Ionis Pharmaceuticals (IONS) announced that the European Commission has granted marketing authorization for Spinraza for the treatment of 5q spinal muscular atrophy. 5q SMA is the most common form of the disease and represents approximately 95% of all SMA cases. Spinraza is the first approved treatment in the European Union for SMA, a leading genetic cause of death in infants that is marked by progressive, debilitating muscle weakness. Spinraza was reviewed under the European Medicines Agency's accelerated assessment program, intended to expedite access to patients with unmet medical needs. In conjunction with the Spinraza approval in the EU, Ionis earned a $50M milestone payment from Biogen (BIIB). Ionis is also eligible to receive tiered royalties on global sales of Spinraza. To date, Ionis has earned more than $375M from Biogen related to Spinraza. The approval of Spinraza was primarily based on results from two studies which demonstrated the clinically meaningful efficacy and favorable benefit-risk profile of Spinraza. Biogen licensed the global rights to develop, manufacture and commercialize Spinraza from Ionis Pharmaceuticals in August 2016 and is now responsible for all development, regulatory and commercialization activities and costs for Spinraza. Ionis is eligible to receive a $40M milestone payment from Biogen following the approval of Spinraza in Japan, which Biogen expects could happen later this year.

07:47 EDT American Express reaffirms FY17 financial outlook

07:36 EDT Fortress Biotech unit enters manufacturing agreement with Patheon - Fortress Biotech (FBIO) announced that its subsidiary Caelum Biosciences has entered a biopharmaceutical manufacturing agreement with Patheon N.V. (PTHN) for process development and current good manufacturing practices production of Caelum's lead therapy CAEL-101. The agreement will support Phase 2/3 studies of CAEL-101 for the treatment of amyloid light chain amyloidosis, a rare systemic disorder that leads to the buildup of amyloid proteins in and around tissues, nerves and organs, resulting in organ damage and high mortality rates. CAEL-101 is currently being evaluated by study sponsor Columbia University in a Phase 1b study in AL amyloidosis.

07:34 EDT Patterson Companies names Jim Wiltz as interim president and CEO - Patterson Companies announced that Scott P. Anderson, President, CEO and Chairman of the Board, will step down from those roles, effective immediately. Anderson will continue to serve as a Director until the 2017 Annual Meeting of Shareholders, but will not stand for re-election to the Board. James W. Wiltz, a current director and the company's former CEO, will assume the role of Interim President and CEO and remain on the Board. John D. Buck, currently the company's Lead Director, will assume the role of non-executive Chairman. The company's Board of Directors has formed a search committee, consisting of Ellen A. Rudnick, Jody H. Feragen, Neil A. Schrimsher and Mr. Buck, and has retained Spencer Stuart to begin an immediate search for a permanent President and CEO. Anderson has agreed to serve in a Special Advisor capacity to the company, subject to certain non-compete and non-solicit provisions and other terms and conditions, and will be available to the company to advise on certain matters at its sole request.

07:33 EDT Patterson Companies appoints John Buck as chairman

07:32 EDT Patterson Companies Chairman, President, CEO Anderson to step down immediately

07:31 EDT Celgene, Acceleron complete enrollment in Medalist, Believe Phase 3 studies - Celgene Corporation (CELG) and Acceleron Pharma Inc. (XLRN) announced that they have completed target enrollment in the MEDALIST and BELIEVE Phase 3 studies of luspatercept in patients with myelodysplastic syndromes and beta-thalassemia. The companies expect to report top-line results from the clinical trials in the middle of 2018. Luspatercept is being developed to treat a range of hematologic diseases including MDS, beta-thalassemia, and myelofibrosis as part of a global collaboration between Acceleron and Celgene. The MEDALIST Phase 3 trial has enrolled 210 patients with lower-risk MDS. The BELIEVE Phase 3 trial has enrolled 300 patients with transfusion dependent beta-thalassemia. Patients who are currently in screening remain eligible for randomization into both Phase 3 studies. The trials will remain blinded for both the primary and secondary endpoints until the end of the 48-week treatment period for all randomized patients. The MEDALIST Phase 3 trial is a randomized, double-blind, placebo-controlled, global study designed to evaluate the efficacy and safety of luspatercept in patients with ring sideroblasts, lower-risk MDS with a baseline RBC transfusion burden of at least 2 units per 8 weeks over the 16-week period prior to treatment. The primary endpoint of the study is the proportion of patients who are red blood cell transfusion independent over any consecutive 8-week period through week 24. Secondary endpoints include duration of RBC transfusion independence and proportion of patients achieving a modified hematologic improvement - erythroid per the International Working Group over any consecutive 8-week period during treatment. Patients were randomized 2:1, luspatercept to placebo treatment, administered subcutaneously every 3 weeks for 48 weeks. The MEDALIST study is being conducted at 74 investigational sites in 11 countries.

07:17 EDT L Brands reports May SSS down 7%, net sales down 5% - L Brands reported net sales decreased 5% to $774.3M for the four weeks ended May 27, 2017, compared to net sales of $816.6M for the four weeks ended May 28, 2016. Comparable sales for the four weeks ended May 27, 2017, decreased 7%. For May, the exit of the swim and apparel categories had a negative impact of 10 percentage points and 14 percentage points to total company and Victoria's Secret comparable sales, respectively.

07:09 EDT Tesoro, Tesoro Logistics announce new names - Tesoro (TSO) and Tesoro Logistics (TLLP) announced the companies will change their names to Andeavor and Andeavor Logistics LP, respectively, on August 1. The companies also unveiled new logos and ticker symbols. Tesoro expects to close its acquisition of Western Refining (WNR) late Thursday.

07:08 EDT Collegium reports additional managed care coverage for Xtampza ER for Med Part D - Collegium Pharmaceutical announced that one of the largest managed care organizations with approximately 8 million Medicare Part D lives has added Xtampza ER to its Medicare Part D formularies. Effective June 1, 2017, Xtampza ER is the exclusive oxycodone extended-release product for this organization's Part D plan designs.

07:06 EDT Cato Corp. reports May SSS down 16% - Cato Corporation reported sales of $74.2M for the four weeks ended May 27, a 15% decrease versus sales of $87.4M for the four weeks ended May 28, 2016. SSS for the month were down 16% to last year. "Our negative sales trends persisted throughout May as we continued to work through our merchandise assortment missteps," stated John Cato, CEO.

07:05 EDT BioLineRx and Genentech submit three Phase 1b trials for BL-8040 in solid tumors - BioLineRx (BLRX) announced that Genentech, a member of the Roche (RHHBY) Group, has filed a total of three regulatory submissions required to commence Phase 1b trials for BL-8040 in combination with atezolizumab, Genentech's anti-PDL1 cancer immunotherapy, for the treatment of patients with solid tumors. The trials for pancreatic, gastric and non-small cell cancer are expected to commence during 2H17, after receipt of regulatory approval. These clinical studies are part of a cancer immunotherapy collaboration between BioLineRx and Genentech to conduct several Phase 1b studies investigating BL-8040 in combination with atezolizumab in multiple cancer indications. The Phase 1b studies will evaluate the clinical response, safety and tolerability of the combination of these therapies, as well as multiple pharmacodynamic parameters. BL-8040, BioLineRx's lead oncology platform, is a CXCR4 antagonist that has been shown in clinical trials to be a mobilizer of immune cells and to be effective in inducing direct tumor cell death.

07:02 EDT Omeros to present OMS721 data at ERA-EDTA Congress - Omeros Corporation announced that data from the company's Phase 2 clinical trial of OMS721 for the treatment of Immunoglobulin A nephropathy and other kidney diseases will be presented at the 54th European Renal Association-European Dialysis and Transplant Association Congress in Madrid, Spain. The poster "The Effect of OMS721 on Proteinuria in Patients with IgA Nephropathy," scheduled for presentation on Sunday, June 4, 2017, describes data from the trial's IgA nephropathy cohort. Geoffrey Block, M.D., Director of Clinical Research at Denver Nephrology and Principal Investigator of the Phase 2 trial, will discuss the data. The presentation further describes data demonstrating statistically and clinically significant improvement in proteinuria after 12 weeks of treatment with OMS721 in IgA nephropathy patients. OMS721 is Omeros' lead human monoclonal antibody targeting mannan-binding lectin-associated serine protease-2, the effector enzyme of the lectin pathway of the complement system. The ERA-EDTA includes over 7000 physician members internationally and its objective is the advancement of medical science and clinical work in nephrology, dialysis, renal transplantation, hypertension and other related topics. The 54th Congress of ERA-EDTA runs from June 3 through June 6 in Madrid.

07:01 EDT The Buckle reports May SSS down 9% - The Buckle, Inc. said that comparable store net sales, for stores open at least one year, for the 4-week period ended May 27, 2017 decreased 9.0 percent in comparison to comparable store net sales for the 4-week period ended May 28, 2016. Net sales for the 4-week fiscal month ended May 27, 2017 decreased 8.8 percent to $61.5 million compared to net sales of $67.4 million for the prior year 4-week fiscal month ended May 28, 2016.

06:56 EDT GasLog acquires GasLog Geneva from GasLog for $211M - GasLog Partners (GLOP) and GasLog (GLOG) have approved entering into an agreement for the Partnership to purchase from GasLog 100% of the shares in the entity that owns and charters GasLog Geneva. The aggregate purchase price for the acquisition will be $211M, which includes $1M for positive net working capital balances to be transferred with the vessel. GasLog Partners expects to finance the acquisition with cash on hand, including proceeds from its recent preference unit offering, and the assumption of $155M of GasLog Geneva's existing debt. The acquisition is expected to close in Q3. GasLog Geneva is a 174,000 cubic meter tri-fuel diesel electric liquefied natural gas carrier built in 2016 and operated by GasLog since delivery. The vessel is currently on a long-term time charter with a wholly owned subsidiary of Royal Dutch Shell through September 2023. Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or eight years. The Partnership believes that the acquisition will be immediately accretive to unitholder distributions and estimates that GasLog Geneva will add approximately $23M to EBITDA in the first 12 months after closing. Upon closing, the acquisition will be supportive of GasLog Partners' guidance to grow unitholder distributions at a 10% to 15% compound annual rate from IPO through 2017. The Partnership intends to recommend an annualized distribution of greater than $2.09 per unit by Q4.

06:47 EDT Deere to acquire Wirtgen Group for EUR4.357B in cash - Deere & Company has signed a definitive agreement to acquire the Wirtgen Group, a privately-held international company that is a manufacturer worldwide of road construction equipment. The purchase price for the equity is EUR 4.357 billion in an all-cash transaction. The total transaction value is approximately EUR 4.6 billion, or $5.2 billion based on current exchange rates, including the assumption of net debt and other consideration. The Wirtgen Group had sales of EUR 2.6 billion in the year ending December 31, 2016. Deere expects the transaction to be accretive to earnings per share and currently expects to fund the acquisition from a combination of cash and new equipment operations debt financing. The Wirtgen Group has a global footprint with approximately 8,000 employees and sells products in more than 100 countries through a large network of company-owned and independent dealers. Deere plans to maintain the Wirtgen Group's existing brands, management, manufacturing footprint, employees and distribution network. The combined business is expected to benefit from sharing best practices in distribution, customer support, manufacturing and technology as well as in scale and efficiency of operations. The transaction has been approved by Deere's Board of Directors. The purchase is subject to regulatory approval in several jurisdictions as well as certain other customary closing conditions. The companies said they expect to close on the transaction in the first quarter of Deere's 2018 fiscal year. Transaction advisors included Citigroup as exclusive financial advisor to Deere, Linklaters LLP as deal legal counsel, Kirkland & Ellis LLP as securities legal counsel and EY as accounting and tax advisor. The Boston Consulting Group served as a strategic advisor.

06:46 EDT Deere to acquire Wirtgen Groupin deal valued about $5.2B in cash

06:32 EDT EnPro acquires Qualiseal Technology - EnPro acquired the assets of Qualiseal Technology, a privately-held company offering custom-engineered mechanical seals for applications in the aerospace industry and other markets. Qualiseal, headquartered in Harwood Heights, IL, will become part of EnPro's Technetics Group, a manufacturer of engineered products for demanding environments, specializing in solutions for the aerospace, power generation, semiconductor, and high-performance industrial markets. Qualiseal was acquired from QCC, a portfolio company of Promus Equity Partners, Terms were not disclosed. The company brings a workforce of approximately 50 employees and will continue to conduct business under the Qualiseal Technology name.

06:18 EDT Hexcel in negotations to acquire French composites company Structil - Hexcel has entered into exclusive negotiations to acquire all of the shares of Structil SA, a French producer and supplier of high-performance composites to the aerospace, defense and industrial markets. Assuming reviews and approvals are successfully completed, the acquisition is expected to close in 2017. Structil is a joint venture between Safran Ceramics, a wholly owned subsidiary of Safran, and Mitsubishi Chemical. The company employs approximately 70 people at a 68,000-square-foot production plant on a seven-acre site in Vert-le-Petit, France, about 25 miles south of Paris. Structil's 2016 sales were approximately $21M.

06:05 EDT Cyren awarded cybersecurity grant by Israeli government - Cyren was awarded a grant of approximately $930K by the Israeli Innovation Authority at Israel's Ministry of Economy and Industry. The grant is part of Israel's initiative that provides benefits to Israeli companies in order to encourage research and development activity for cybersecurity solutions. Cyren received a similar grant in 2016 and 2015.

06:03 EDT KLA-Tencor raises quarterlydividend level to 59c per share from 54c per share - KLA-Tencor announced that its board has authorized a nine percent increase in the level of the company's quarterly dividend, from 54c to 59c per share. This increase is expected to take effect beginning with the quarterly dividend to be declared in August, marking the 50th consecutive quarterly dividend paid to KLA-Tencor stockholders and the ninth increase in the quarterly dividend level since it was first instituted in June 2005.

05:36 EDT PPG announces decision to withdraw proposal, not pursue offer for AkzoNobel - PPG (PPG) announced that it has withdrawn its proposal to combine with AkzoNobel (AKZOY) and will not pursue a public offer for all the issued and outstanding shares of AkzoNobel. PPG made the final decision today after careful consideration, including the stakeholder interests of both companies.

05:27 EDT Amazon to create 1,000 full-time jobs at new fulfillment center in Georgia - Amazon announced plans for a new fulfillment center in Jefferson, Georgia. When opened, Amazon will create 1,000 new full-time jobs at the facility. The company currently has more than 1,500 full-time employees at its existing facilities in the state.