Stockwinners Market Radar for June 13, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:03 EDT Spark New Zealand invests in partnership with Nokia - Nokia and Spark are partnering to prepare New Zealand for the future with a "step change" in the capacity, flexibility and agility of Spark's core and backhaul IP/MPLS network. Spark is committed to making New Zealand one of the first countries globally to be ready for 5G. Spark has already seen a tenfold increase in network traffic with the introduction of its broadband over wireless service, which is primarily based on a Nokia IP/MPLS network. It plans to further expand the capacity and agility of its transport network over the next two years to prepare for 5G.

18:33 EDT pSivida says doesn't expect advisory panel for Durasert - Speaking during a conference call earlier, pSivida executives said they do not expect an FDA advisory panel for Durasert: "Right now we do not. There's been no indication whatsoever that the FDA is going to require that... It's very, very low probability that we would have an advisory panel."

18:30 EDT Bristol-Myers recalls one lot of Eliquis 5 mg tablet - Bristol-Myers Squibb is voluntarily recalling one lot of Eliquis 5 mg tablets to the consumer level. This lot was distributed nationwide in the U.S. to wholesalers and retail pharmacies in February 2017. Bristol-Myers Squibb is taking this precautionary measure based on a customer complaint that a bottle labeled as Eliquis 5 mg was found to contain Eliquis 2.5 mg tablets. This recall is being conducted with the knowledge of the U.S. Food and Drug Administration.

18:21 EDT Civitas Solutions acquires Mi Casa Es Su Casa - Civitas Solutions announced that it has expanded it platform of Adult Day Health services to the state of New Jersey with the acquisition of Mi Casa Es Su Casa, an ADH center in the city of Paterson. Mi Casa provides person-centered day services to elders, including medication management and nutritional and nursing support. The center has an average daily census of approximately 140 individuals and generated revenues of approximately $3M for the 12-month period prior to the acquisition.

18:05 EDT Allegiant Travel, ALAFCO announce lease agreement for 13 Airbus A320 aircraft - Allegiant (ALGT) announces an agreement with ALAFCO Aviation Lease and Finance Company to lease 13 Airbus (EADSY) A320 aircraft. This agreement is another important step towards Allegiant's planned transition to an all-Airbus fleet by 2019. The 13 8-year-old Airbus aircraft acquired via this agreement are expected to enter service with Allegiant beginning in the first quarter of 2018, configured with 186 seats and the CFM56-5B engine type. The agreement includes an option to purchase at the end of the lease term. This transaction brings Allegiant to a total of 92 Airbus aircraft either in service or committed for future delivery.

18:00 EDT Mobileye receives shareholder approval for acquisition by Intel - Mobileye (MBLY) announced the results of its 2017 annual general meeting of its shareholders. During the AGM, the company obtained shareholder approval for all items proposed for approval at the AGM, including all items relating to the previously disclosed all cash tender offer by Cyclops Holdings, a wholly-owned subsidiary of Intel (INTC), to acquire all of the outstanding shares of the company, including approval of certain post-Offer closing restructurings as previously announced in the agenda for the AGM, certain amendments to the articles of association of the company to become effective after the closing of the Offer and the election of new directors associated with Intel effective as of the Offer closing. In addition, a number of other matters were approved at the AGM relating to the adoption of the company's Dutch statutory annual accounts, the re-election of certain incumbent directors of the company (who will resign after the Offer closing) and the appointment of PricewaterhouseCoopers N.V. to serve as the company's independent public accountants for the current year.

17:35 EDT Piton Capital raises stake in Evolving Systems to 6.3% from 5.3%

17:16 EDT Integrated Core Strategies reports 5.2% passive stake in Green Plains

17:09 EDT pSivida: Durasert NDA filing on track for Q4 - pSivida executives are speaking on a conference call.

17:01 EDT Horizon Bancorp raises quarterly dividend 18.2% - Horizon Bancorp announced that its board has approved an increase in its quarterly dividend to 13c per share from 11c per share. This represents an 18.2% increase and a dividend yield of 1.92% based on the price per share of $27.08 as of the close of business on June 12. The dividend will be paid on July 21 to shareholders of record on July 7.

16:48 EDT Delta Hotels by Marriott targets doubling of brand growth in next two years - Delta Hotels by Marriott announced an aggressive growth plan that aims to double the brand's growth in the next two years, following the full-service hotel brand's acquisition by Marriott International in 2015. Then at 30 properties solely in Canada, the brand's rapid ascension now totals more than 40 open properties, and an additional 20 additional signed pipeline properties including new entries into Asia and the U.S, making Delta Hotels one of the fastest growing brands in the Marriott International portfolio. The Delta Hotels brand encompasses a rich Canadian history, making it a key piece of the Marriott International's premium portfolio. With 20 signed hotels in the pipeline, Marriott International is poised to grow Delta's hospitality globally to major gateway cities including Dallas, Shanghai and Seattle. Delta Hotels will open the Shanghai property later this year, while the four-star brand opened its first U.S. property last year (Delta Hotels Orlando Lake Buena Vista), and this year has added Delta Hotels Baltimore Hunt Valley, Delta Hotels Baltimore Inner Harbor, Delta Hotels Chesapeake, Delta Hotels Chicago North Shore, and Delta Hotels Fargo.

16:47 EDT TechnipFMC awarded integrated EPCI contract for Statoil project - TechnipFMC has been awarded an extension to its ongoing Engineering, Procurement and Construction contract from Statoil in the Norwegian North Sea. The ongoing EPC project covers the provision of subsea equipment to the Visund Nord IOR project.

16:33 EDT XPO Logistics selected to be global lead logistics provider by Nu Skin - XPO Logistics (XPO) announced that it has been selected by Nu Skin Enterprises (NUS) as global lead logistics provider under a multi-year contract. Nu Skin is a $2.2B provider of premium-quality beauty and wellness solutions to markets in Asia, the Americas, Europe, Africa and the Pacific. In collaboration with Nu Skin, XPO is developing an integrated, global supply chain logistics solution that utilizes proprietary technology for end-to-end management of product flows. Components include transportation management, warehousing and order fulfillment, as well as value-added services such as co-packing, kitting and real-time inventory tracking. The network will be managed through regional control towers around the world.

16:31 EDT Sucampo awarded new patent for VTS-270 - Sucampo Pharmaceuticals announced that the U.S. Patent and Trademark Office has issued a patent for VTS-270, a novel and well-characterized 2-hydroxypropyl-beta-cyclodextrin product, under investigation as an intrathecally administered treatment for Niemann-Pick Disease Type C1. The patent, U.S. Patent No. 9,675,634, relates to proprietary cyclodextrin compositions with a specific fingerprint and purity profile that distinguish VTS-270 from other HPbetaCD products. The patent expires in 2036.

16:26 EDT Discovery reduces stake in Aerohive to 4.8% from 5.9%

16:22 EDT Boeing streamlining defense and space unit to boost competitiveness - Boeing is taking the next step in making its Defense, Space & Security unit more globally competitive by eliminating a layer of executive oversight. As of July 1, the current Boeing Military Aircraft and Network & Space Systems segments will evolve into smaller entities reporting to Caret. Autonomous Systems: Insitu and Liquid Robotics subsidiaries; Echo Voyager maritime vehicle; vertical lift unmanned systems; and certain electronic and information systems. Space and Missile Systems: satellites; Boeing's share of United Launch Alliance; the International Space Station; Ground-based Midcourse Defense; Ground Based Strategic Deterrent; Joint Direct Attack Munition and Harpoon weapons, among others. Strike, Surveillance and Mobility: F-15 and F/A-18 fighters; P-8 maritime patrol aircraft; Joint Surveillance Target Attack Radar System; modifications/upgrades to fixed-wing aircraft. Vertical Lift: AH-6i, AH-64 Apache, and CH-47 Chinook helicopters; V-22 Osprey tilt rotor. Boeing executives Chris Raymond, Jim Chilton, Shelley Lavender, and David Koopersmith will lead those, respectively. The Development, Global Operations, and Phantom Works segments, which also report to Caret, will largely be unchanged. About 50 executive positions will be affected this year as a result of the changes.

16:20 EDT Culp approves 21c per share special cash dividend - Culp said that its board of directors has approved the payment of a special cash dividend of 21c per share. In addition, the board approved the payment of the company's quarterly cash dividend of 8c per share. Both of these payments will be made on July 17, 2017, to shareholders of record as of July 3, 2017.

16:17 EDT Kirby to acquire Stewart & Stevenson for approximately $710M - Kirby announced the signing of a definitive agreement to acquire substantially all of the assets and businesses of Stewart & Stevenson, a subsidiary of the Houston-based Parman Capital Group, for approximately $710M before post-closing adjustments and transaction fees. The agreement was signed on June 13 by Hushang Ansary, Executive Chairman of Stewart & Stevenson, and Joseph Pyne, Executive Chairman of Kirby Corporation. The purchase will be funded equally through Kirby's revolving credit facility and Kirby common stock valued at approximately $355M, subject to certain closing adjustments. The closing of the acquisition is expected to occur in the third quarter and is subject to customary closing conditions, including regulatory approvals under the Hart-Scott-Rodino Act. David Grzebinski, Kirby's President and CEO, commented, "We expect this acquisition will be modestly accretive to 2017 earnings per share, and expect more meaningful accretion in 2018 as we consolidate operations and capture synergies. We will provide updated 2017 guidance on our third quarter earnings release call. We will also provide full year 2018 revenue and earnings per share guidance, including accretion from Stewart & Stevenson, when we report earnings in January 2018."

16:16 EDT Cross Country Healthcare to acquire assets of Advantage RN for $88M - Cross Country Healthcare announced that it has signed a definitive agreement to acquire substantially all of the assets and business of Advantage RN and its affiliates for an aggregate purchase price of $88M, subject to a post-closing working capital adjustment. The founder and CEO of Advantage, Matt Price, will remain with the business after the transaction closes. For the year ended December 31, 2016 Advantage had revenue of approximately $100M and a normalized EBITDA of approximately $10M. The company is financing the acquisition through a combination of cash-on-hand and borrowings under its senior credit facility. In connection with this transaction, the company has also entered into a commitment to increase the borrowing capacity under its current credit facility by $40M. It is anticipated that the closing will occur during the third quarter of 2017, the consummation of which is subject to customary closing conditions.

16:14 EDT Fox Factory exec Allinger sells 17,418 common shares - In a regulatory filing, Fox Factory Bicycle Division VP Wesley E. Allinger disclosed the sale of 17,418 common shares in the company at a price of $32.8803 per share. The transaction brings Allinger's total direct common stock ownership to 29,419 shares.

16:09 EDT Owens Realty Mortgage provides update on evaluation of strategic options - In connection with the Repurchase Plan, the Company disclosed that the Board's Compensation Committee, consisting of disinterested directors, has been engaged in a months-long internal analysis and evaluation of strategic options related to its external management structure with the assistance of FTI Consulting, a leading independent consultant. During this period, the Compensation Committee has engaged in discussions with the Company's external manager primarily with respect to two alternatives: (1) amendments to the management agreement that would replace the current management fee payable to the Manager with a management fee based on a stockholders' equity calculation that is similar to industry standards, or (2) an internalization transaction. The discussions are ongoing and preliminary in nature, and no conclusion has been reached.

16:06 EDT Owens Realty Mortgage announces $10M stock repurchase program - Owens Realty Mortgage announced that its Board of Directors has authorized a new stock repurchase plan which enables the company to repurchase up to $10M of its outstanding common stock from stockholders over the six months beginning July 13, 2017, as market conditions warrant.

15:30 EDT Johnson & Johnson diabetes data seen as boon for Eli Lilly - Johnson & Johnson (JNJ) reported data Monday night from cardiovascular trials of its diabetes treatment Invokana, showing arguably mixed results as the drug lowered disease risk while increasing the risk of amputations, an outcome which Wall Street said could lift similar but safer drugs in the space. INVOKANA DATA: Last night, Johnson & Johnson reported results from the "CANVAS" trials of its already-approved SGLT-2 inhibitor Invokana, saying the drug significantly lowered risk of cardiovascular death, myocardial infarction, and nonfatal stroke in type 2 diabetes patients at risk or with history of heart disease, while also registering a potential kidney benefit. However, the two trials also showed nearly double the risk of amputation, with the company cautioning that those safety findings "have been shared by the U.S. FDA and will be reflected in the U.S. prescribing information." PLUS FOR LILLY, MINUS FOR MERCK: Credit Suisse analyst Vamil Divan argues that CANVAS nearly paints a best case scenario for Eli Lilly (LLY) and its Jardiance drug. Invokana validates the previous efficacy data for Jardiance as well as hospitalization rate and possible kidney protection, which "bodes well" for Lilly's ongoing studies in those populations. Meanwhile, the increased amputation risk -- while potentially outweighed by Invokana's benefits -- and consequent label warnings "will likely lead to a significant commercial advantage" for Eli Lilly, Divan contends. Conversely, Merck's (MRK) Januvia product, which belongs to a different class of diabetes medicines, may face "incremental pressure" over time as enthusiasm around the CANVAS efficacy data likely pushes SGLT-2 inhibitors to the forefront of the treatment cycle. COWEN POSITIVE: Keeping an Outperform rating and $143 target on Johnson & Johnson, Cowen analyst Joshua Jennings calls Invokana's positive efficacy data "crucial" for its competitive positioning and supportive of his current forecasts, while also boding well for the larger SGLT-2 drug class. He remains "optimistic" that digestion of the data will yield a broad label, similar to Jardiance. NEGATIVE MARKET SHARE IMPACT: Highlighting Invokana's "quite strong" efficacy data, Wells Fargo analyst Larry Biegelsen argues that the safety events were "not unexpected" given the drug's previous label warnings. That said, Biegelsen believes the amputation risk will negatively impact Invokana's market share and he models sales falling from $1.4B this year to $1.2B in 2021, though CANVAS should still boost the overall SGLT-2 class. PRICE ACTION: Shares of Johnson & Johnson and Eli Lilly are both up fractionally in afternoon trading.

14:53 EDT Palo Alto announces cloud-based service for remote locations, mobile users - Palo Alto Networks announced GlobalProtect cloud service, a new offering that provides the Palo Alto Networks next-generation security infrastructure as a cloud-based service for remote offices and mobile users. The new Palo Alto Networks GlobalProtect cloud service will enable customers to utilize the preventive capabilities of the Palo Alto Networks Next-Generation Security Platform, including application visibility and control, Threat Prevention, URL Filtering, and WildFire threat analysis service, to secure remote networks and mobile users. With this new service, widely distributed organizations can improve security while reducing the complexity of managing costly, time-consuming and cumbersome global deployments.

14:38 EDT Sky Solar forms independent committee to probe conduct of former CEO

14:37 EDT Alexion CEO says looking to clean up pipeline, align cost structure - Speaking at the Goldman Sachs Global Healthcare Conference the CEO noted that the CFO search is going well.

14:10 EDT Endo 'tempted' to talk with FDA about Opana's 50,000 monthly scripts - Endo CEO Paul Campanelli, while speaking at Goldman Sachs' healthcare conference, said his company is "tempted" to get the FDA's thoughts on what it should do with the patients currently taking Opana ER. The drug, which the FDA has requested be voluntarily pulled from the market, has 50,000 monthly scripts, Campanelli added.

14:04 EDT Eli Lilly says analysis of pooled data reinforces Jardiance safety profile - An analysis of pooled safety data from 19 studies demonstrated treatment with Jardiance tablets was well tolerated, with no imbalance in lower limb amputations or bone fractures compared with placebo, Boehringer Ingelheim and Eli Lilly announced, citing an analysis published this month in Advances in Therapy. Pooled data for this analysis, which included 15 randomized Phase I-III trials and four extension studies, were analyzed from adults with type 2 diabetes treated with placebo, Jardiance 10 mg or Jardiance 25 mg. The analysis demonstrated that the incidences of any adverse events, severe adverse events, serious adverse events and adverse events leading to discontinuation were no higher in adults treated with Jardiance compared with those treated with placebo. The rate of lower limb amputations was similar across treatment groups. The incidences of other events potentially related to amputations were similar in the placebo and Jardiance groups.

14:00 EDT Amazon introduces 2% Prime rewards program - Amazon has introduced a 2% rewards program for Prime members who make purchases using the Amazon gift card platform funded with their checking account. The company explains: "Prime members earn 2% rewards every time they reload their Gift Card Balance with their checking account... For qualifying transactions, a reward equal to 2% of your qualifying reload amount will be automatically applied in the next 24-48 hours to your Amazon Balance after the qualifying transaction has been completed." Reference Link

13:54 EDT Endo CEO says 'can't give' generics guidance beyond 2017 - Endo CEO Paul Campanelli is speaking at Goldman Sachs' healthcare conference.

13:47 EDT Endo CEO says no longer promoting pain products - Endo CEO Paul Campanelli said to Goldman Sachs' healthcare conference that his company is no longer promoting its pain products. The CEO added that Endo will collaborate with the FDA on the availability of Opana ER. Endo will "wait and see" on the accessibility of other pain medications, Campanelli added.

13:23 EDT Instagram again draws comparison to Snapchat with new 'Archive' feature - Facebook's (FB) Instagram introduced Archive, "a new feature that lets you move posts you've previously shared into a space that's visible only to you." In media coverage of the news, the feature is drawing comparison to Snapchat's (SNAP) Memories feature. Reference Link

13:20 EDT Garmin: Navico's patent claims determined to be invalid by court of appeals - Garmin International announced that the Court of Appeals for the Federal Circuit reversed a December 2015 finding by the International Trade Commission that Garmin had infringed Navico patents related to downscan sonar. Specifically, the Federal Circuit ruled that two of Navico's patents were invalid and that Garmin's DownVu sonar does not infringe a third Navico patent. The Federal Circuit's decision not only reverses the ITC's original orders, but supersedes all related rulings by U.S. Customs and the ITC, including an initial determination that Garmin should be subject to a $37M fine for selling DownVu products. Garmin is now free to import and sell any and all sonar products. "The Federal Circuit's sweeping decision, finding that Navico's downscan technology was an obvious modification of old sonar systems, puts an end to Navico's unfounded and vicious patent war against Garmin," said Andrew Etkind, Garmin's vice president and general counsel. "Not only does the Federal Circuit's decision eliminate the ongoing disputes at the ITC, it renders Navico's other lawsuits in Oklahoma and Texas without merit." "This ruling confirms our strong belief that Navico's patent claims were not supported by the facts," said Cliff Pemble, Garmin's CEO. "Despite Navico's flood of lawsuits, and harassment of Garmin's dealers, distributors, and customers, the industry stood by us during this difficult and unnecessary fight and for that, we are extremely grateful. We look forward to a great 2017 filled with exciting new Garmin products."

13:05 EDT Netflix, Amazon join legacy media giants in anti-piracy coalition - Earlier Tuesday, 30 major content creators and entertainment companies launched the Alliance for Creativity and Entertainment, a coalition dedicated to "protecting the dynamic legal market for creative content and reducing online piracy." The members of ACE include: Amazon (AMZN), AMC Networks (AMCX), CBS (CBS), Time Warner's (TWX) HBO and Warner Bros. Entertainment, Lionsgate (LGF.A), Comcast's (CMCSA) NBCUniversal, Netflix (NFLX), Viacom's (VIA) Paramount, Sony (SNE) Pictures, Twenty-First Century Fox (FOX), Disney (DIS), and Hulu. "ACE will expand ongoing, cooperative efforts to reduce the prevalence of online piracy. ACE will draw upon the global antipiracy resources of the Motion Picture Association of America in concert with the internal antipiracy expertise of the ACE coalition members. Specifically, ACE will conduct research, work closely with law enforcement to curtail illegal pirate enterprises, file civil litigation, forge cooperative relationships with existing national content protection organizations, and pursue voluntary agreements with responsible parties across the internet ecosystem," the group said.

12:53 EDT Mallinckrodt CEO says Medicare 'roughly half' of Acthar reimbursement - Mallinckrodt CEO Mark Trudeau is speaking at the Goldman Sachs healthcare conference.

12:52 EDT Morgan Stanley Wealth Mgmt says trying to move away from paper-based activities - Says plans to digitize calling in to wealth management as well. Says aiming to move away from paper-based systems for wealth management activities.

12:49 EDT Cobas Asset Management reports 10.07% passive stake in McClatchy

12:48 EDT Amazon's AWS GovCloud expects to open second Region in 2018 - AWS's Jeff Barr said, "AWS GovCloud gives AWS customers a place to host sensitive data and regulated workloads in the AWS Cloud. The first AWS GovCloud ,US, Region was launched in 2011 and is located on the west coast of the US. I'm happy to announce that we are working on a second Region that we expect to open in 2018. The upcoming AWS GovCloud (US-East) Region will provide customers with added redundancy, data durability, and resiliency, and will also provide additional options for disaster recovery." Reference Link

12:39 EDT S&P rates Apple green bond AA+, sees iPhone 8 spurring growth - Responding to Apple's $1B "green" bond issue Tuesday -- the first environmentally-focused U.S. corporate issuance since President Donald Trump's decision to exit the Paris climate accord -- S&P Global Ratings assigned a AA+ rating to the notes, the same as its rating on the company itself. The credit rating agency commented: "Apple's financial risk profile is considered minimal. We view its periodic debt issuances as a form of synthetic cash repatriation and expect the company to maintain a significant net cash position over time... Although we expect total shareholder returns to exceed free cash flow on occasion, robust overall cash generation affords the company the flexibility to return large amounts of cash to shareholders without detracting from the overall credit quality... Despite the maturing smart phone market, we expect Apple to generate revenue growth near the mid-single digits in FY17. We believe the 10th anniversary edition of the iPhone, expected to launch later this year, will spur further growth into FY18. Our view of Apple's business risk profile remains unchanged at strong given its expanding ecosystem -- partly reflected in its growing services segment -- and its leadership position as a premium product with strong consumer loyalty."

12:13 EDT Wells Fargo names Rowe to new community bank segments role - Wells Fargo (WFC) announced that Andrew Rowe has been selected as head of its Community Banking Customer Segments team, to join Wells Fargo in September. "In the newly created role, Rowe will lead the company's efforts focused on meeting the needs of customers across various segments, including Small Business, Affluent, Wells Fargo At Work and Practice Finance," the company said. Rowe will join Wells Fargo from Bank of America (BAC), where he most recently served as Consumer Risk Executive for consumer products and channels. "We know that among our current retail banking customers, there are many small business owners and affluent customers who could also have those unique needs met at Wells Fargo. Andy and his teams will be focused on deepening our relationships with those customers," commented community banking chief Mary Mack.

12:09 EDT Google rolling out updates to Local Guides program - Google said in a blog post: "Since 2014, our Local Guides community has grown to more than 30 million contributors. Once you sign up to be a Local Guide, every contribution you make to Google Maps earns you points towards unlocking something new-like early access to new Google Maps features, exclusive contests, events and perks. Over the next few days we're rolling out updates to the Local Guides program, including a new point system, new levels that unlock different kinds of perks, and new ways to earn points." Reference Link

12:05 EDT 1Globe Capital reports 4.79% passive stake in Verastem

12:03 EDT Trimble acquires privately-held Innovative Software Engineering - Trimble announced that it has acquired privately-held Innovative Software Engineering, an engineering and systems integration firm that delivers Internet of Things and telematics solutions, enterprise mobility applications and tailored software solutions. The acquisition expands Trimble's fleet safety and compliance solutions and allows Trimble to offer electronic logs as a service. Financial terms were not disclosed.

11:32 EDT Omeros reports FDA breakthrough therapy designation granted to OMS721 - Omeros announced that the U.S. Food and Drug Administration has granted breakthrough therapy designation to OMS721 for the treatment of Immunoglobulin A nephropathy. CEO Gregory Demopulos said, "OMS721 appears to be helping IgA nephropathy patients with a rapidity and magnitude not previously seen with any other therapy, and we look forward to working closely with the FDA to accelerate its development." The company noted that there is no approved treatment for IgA nephropathy.

11:27 EDT Citi CFO says ROTCE goals requrie $15B-$18B annual capital return - Says would be "very comfortable" at 11.5% CET1 ratio range. Says will be a stretch to reach ROE goals in consumer. Says ROTCE goals require $15B-$18B annual capital return. Says Fed will hike rates this week "with any luck."

11:19 EDT SodaStream says CEO acquired 20,000 shares yesterday - SodaStream announces that, in accordance with its practice to disclose open market purchases of its ordinary shares by its CEO and CFO, on June 12, CEO Daniel Birnbaum purchased an aggregate of 20,000 ordinary shares of the company in open market transactions at a weighted average price per share of $50.41. Birnbaum owns a total of 113,420 ordinary shares of the company following the purchases.

11:15 EDT Citi CFO sees Q2 revenue in fixed income and equity markets down 12%-13% - CFO John Gerspach says volatility has been "very low" this quarter, somewhat leading to a softer trading environment. Sees revenues in fixed income and equity markets down in Q2 y/y in the low double digit range, "maybe 12%-13%." Expects expenses also to be down sequentially. Says may see efficiency ratio "pop up" to 59% this quarter, expects ratio to decline in 2H. Comments taken from the Morgan Stanley Financials Conference.

11:06 EDT Herbalife names Lamberti as managing director, Americas and Worldwide Marketing - Herbalife (HLF) announced the appointment of Frank Lamberti to the role of executive vice president and managing director, The Americas and Worldwide Marketing. In this role, Lamberti will lead global marketing, and will work closely with our distributors and their customers across a region that includes the United States, Canada, South and Central America and Mexico. Lamberti succeeds Miguel Angel Fernandez, who has left the company to assume the role of president of Avon Products (AVP).

11:01 EDT RingCentral appoints Kenneth Goldman to board of directors - RingCentral (RNG) announced the appointment of Kenneth Goldman to its board of directors. Goldman most recently was CFO at Yahoo! (YHOO) overseeing all global finance functions for the company.

10:57 EDT Moelis says deals being stalled by geopolitical uncertainty - Co-President, Managing Director and Director Navid Mahmoodzadegan says M&A volumes heavier in $500M-$5B market. Says deals being stalled by geopolitical uncertainty. Says IPO market "comes and goes in cycles." Comments taken from the Morgan Stanley Financials Conference. Moelis & Co is up 3.8% to $38.50 in morning trading.

10:44 EDT Aecom says market not appreciating free cash flow yield - Says most infrastructure companies not doing that well with free cash flow.

10:36 EDT Aecom CEO says 'most bullish' on U.S. economy - Says market share in Hong Kong growing. The company is less optimistic on Middle East and Africa.

10:31 EDT Aecom sees demand drivers for civil infrastructure beginning to form

10:27 EDT Car rental stock strength attributed to revised used car pricing data - Shares of car rental companies Avis Budget (CAR) and Hertz (HTZ) have moved sharply higher, which trading contacts are attributing to being due to an upwardly revised estimate from the National Automobile Dealers Association of last month's decline in used vehicle pricing. In morning trading, Avis shares are up 7.4% to $23.95, Hertz has risen 3.5% and Ally Financial (ALLY), which specializes in automotive financing, is up 1%.

10:20 EDT Aecom says infrastructure market is 'extreme;y fragmented' - Aecom says its diversification, size and scale are attractive differentiators. Comments are from 2017 Citi Industrial Conference

10:13 EDT Verizon confirms closing of Yahoo acquisition, combination with AOL business - Verizon Communications (VZ) announces that it has completed its acquisition of the operating business of Yahoo (YHOO). Verizon has combined these assets with its existing AOL business to create a new subsidiary, Oath, whose portfolio includes HuffPost, Yahoo Sports, AOL.com, MAKERS, Tumblr, BUILD Studios, Yahoo Finance, Yahoo Mail and more. Tim Armstrong, former CEO of AOL, is now CEO of Oath, which is part of Verizon's Media and Telematics organization. "Given the inherent changes to Marissa Mayer's role with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo. Verizon wishes Mayer well in her future endeavors," Verizon stated.

10:10 EDT Avis Budget rallies 4%, or 82c, to $23.13 - Hertz (HTZ) moved into positive territory is up 14c to $9.03.

10:05 EDT Yahoo announces completion of sale of operating business to Verizon

09:56 EDT U.S. Bancorp sees Q2 loans growing 'a little faster' than Q1 - Says loan growth will be below 1%. Sees slight increase in NIM q/q. Sees Q2 mortgage banking revenue "essentially flat" to Q1. Says credit quality continues to be "very stable."

09:49 EDT U.S. Bancorp sees loan growth accelerating in Q2

09:43 EDT U.S. Bancorp says 'on hold' for traditional bank acquisitions - Says merchant lending is an area company is pursuing. Says "on hold" for traditional bank acquisitions, but still doing card portfolio, fee capabilities, other transactions.

09:40 EDT Gottlieb calls meeting to discuss opioids with abuse-deterrent properties - FDA Commissioner Scott Gottlieb issued a statement, saying in part: "Last month, I asked my colleagues at the FDA to identify what additional and more forceful steps the FDA can take, on top of the vigorous work the agency is already doing, to address the crisis of opioid addiction. Everyone at the FDA is committed to focusing on all aspects of the epidemic. The new policy steps that we announced included the formation of a steering committee to examine additional regulatory and policy actions that we can take to combat this crisis...The FDA is committed to looking at all facets of this complex issue and collaborating on various approaches, as there are no simple answers to reverse this epidemic...Today, we are announcing a public meeting that seeks a discussion on a central question related to opioid medications with abuse-deterrent properties: do we have the right information to determine whether these products are having their intended impact on limiting abuse and helping to curb the epidemic? At the meeting, which will be held July 10-11, we will engage external thought leaders in a discussion about how we can better leverage existing data sources and methods to evaluate the impact of these products in the real world, as well as what new data sources and study designs could be developed or enhanced to ensure these efforts result in the best possible answers to inform regulatory decision-making." Shares of Endo International (ENDP) recently dropped after the FDA requested that the company remove its opioid pain medication, reformulated Opana ER, from the market. Other companies that market or are working on opiod pain medications and alternatives include Depomed (DEPO), Insys Therapeutics (INSY), Impax (IPXL), Collegium (COLL) and BioDelivery Sciences (BDSI). Reference Link

09:31 EDT Fifth Third says joins Zelle P2P network - Fifth Third Bank (FITB) says it launches "safe, fast and simple" person-to-person payments this month, incorporating the benefits and features of Zelle, a new P2P service from Early Warning. Beginning June 23, customers using the Fifth Third Mobile Banking app can send and receive real-time payments for free using the recipient's registered mobile number or email address. Zelle comes from the bank-owned joint venture Early Warning Services, whose owners include JPMorgan (JPM), Wells Fargo (WFC), and Bank of America (BAC). Other Zelle participants include Citi (C), U.S. Bancorp (USB), Morgan Stanley (MS), Capital One (COF), Ally Financial (ALLY), BB&T (BBT), KeyCorp (KEY) and SunTrust (STI), and potentially brings new competition against PayPal's (PYPL) Venmo platform.

09:28 EDT Charter & Colvard to offer new selection of Forever Moissanite jewelry on Evine - Charles & Colvard (CHTR) announced its joint initiative with Evine (EVLV) to elevate the quality and styles of Forever Moissanite jewelry on the TV shopping network. Forever Moissanite is Evine's specific collection of Charles & Colvard created moissanite. Charles & Colvard president and CEO Suzanne Miglucci will host the next two shows, debuting a unique assortment of moissanite jewelry curated specifically for Evine. This expanded selection will include Charles & Colvard's near colorless grade of Forever One moissanite.

09:22 EDT Nvidia, Activision and Bungie partner to bring Destiny 2 to PC - NVIDIA (NVDA), Activision (ATVI) and Bungie, creators of the award-winning Destiny game franchise, announced they are partnering to bring the Destiny franchise to PC for the first time with the much-anticipated action game Destiny 2. Destiny 2 is a first-person action game and the evolution of its award-winning, internationally acclaimed predecessor Destiny.

09:19 EDT BlackRock CFO says will look at 'tactical things' for M&A, 'small' acquisitions - BlackRock CFO Gary Shedlin sees growth coming from "fast-growing rivers," including digital technology. Says "we firmly believe" in Active, says "not giving up." Says technology a "huge" priority for company, says Aladdin platform allows firm to operate more efficiently. Says margins "very competitive." Says M&A about execution, not about adding more complexity to model. Says will continue to look at tactical things for M&A, says acquisitions "will be very small," "very manageable." Says not looking to buy slow growing platforms, not looking to do "transformational" M&A. Says "if the industry merges around us, it will be very positive for BlackRock." Says M&A deals "hard." Comments taken from the Morgan Stanley Financials Conference.

09:12 EDT Pulmatrix enters into license agreement with RespiVert - Pulmatrix (PULM) announced that it has entered into an exclusive, worldwide license agreement with RespiVert, a wholly owned subsidiary of Janssen Biotech, a subsidiary of Johnson and Johnson (JNJ). Through the agreement, Pulmatrix gains access to a portfolio of novel drug candidates in a class called kinase inhibitors that the company plans to develop. The key advance in the iSPERSE approach is a dry powder that "flies" easily into the lungs and can work with virtually any drug class ranging from small molecules to biologics. Under the terms of the agreement, which covers both respiratory and oncology uses of the drug candidates, Pulmatrix will assume all development and commercialization activities worldwide.

09:05 EDT CytRx announces changes in clinical and regulator team - CytRx announced that Shanta Chawla, who has served as the Company's Vice President of Clinical Development since 2014, is being promoted to Senior Vice President of Drug Development and will assume the leadership of CytRx's on-going clinical drug development and regulatory functions. Additionally, CytRx is supported by Hurley Consulting Associates who has been and will continue to assist in the preparations for the aldoxorubicin New Drug Application, or NDA, for soft tissue sarcomas. Daniel Levitt, CytRx's Chief Operating and Medical Officer, is stepping down effective July 7 and the position will be eliminated. Scott Wieland, Ph.D., the Company's SVP of Drug Development, will also be stepping down effective June 30.

09:04 EDT Microsoft Ventures leads $10M Series B funding round in Trusona - Trusona announced it has raised $10M in a Series B funding round led by Microsoft Ventures joining current investor Kleiner Perkins. Trusona's Identity Authentication Suite provides a range of solutions from frictionless #NoPasswords login to the only insured authentication protecting the world's most precious assets. Trusona will use new funding to accelerate growth and international expansion.

09:02 EDT Cognizant to purchase HCSC subsidiary TMG Health, enters services agreement - Cognizant announced it has entered into a definitive agreement to purchase Health Care Service Corporation's subsidiary TMG Health. As part of the expansion of Cognizant's strategic relationship with HCSC, TMG Health will enter into a new, expanded multi-year service agreement to continue providing information technology, business process and other services to HCSC's various operating units and subsidiaries. The transaction is expected to close in the third quarter of 2017, subject to satisfaction of the closing conditions, including regulatory reviews. Kaushik Bhaumik, Executive VP and global head of healthcare at Cognizant, said, "The addition of TMG Health's capabilities and experts to our healthcare portfolio will enable all of our payer clients to embrace new digital opportunities with their growing government business lines, be more competitive and respond quickly to changes in these critical markets with increased efficiency from member enrollment through care management, under a predictable, cost-effective BPaaS model." Financial details were not disclosed.

08:50 EDT GE Additive adds Predix platform to Concept Laser machines - GE Additive announced that it will add Predix platform capabilities to its Concept Laser M2 cusing additive machines, giving customers the opportunity to remotely monitor their machines, increasing their productivity and improving their operations. From September this year, all Concept Laser M2 cusing and M2 cusing Multilaser additive machines will be delivered to customers equipped with Predix edge technology.

08:42 EDT Motorola Solutions, AT&T to bring LTE solutions to FirstNet network - Motorola Solutions (MSI) announced it will provide mobile apps, software and services for the FirstNet network as part of its role on the AT&T (T) team selected by the U.S. government to deliver America's first nationwide wireless broadband public safety network. The FirstNet network will be a nationwide, interoperable network dedicated to first responders when they need it. Working with AT&T, Motorola Solutions will help deliver the broadband devices and solutions that public safety needs. "These will help allow first responders to quickly access the vital information and actionable intelligence that enable faster decisions, enhance situational awareness and achieve better outcomes," the company says.Motorola Solutions' LEX F10 device, designed specifically for public safety, has been certified for the AT&T LTE network. The company will also deliver a suite of mobile apps, such as mapping and messaging, built specifically for the unique needs of public safety. The suite will work virtually between the FirstNet network and land mobile radio networks as well as other software and services that support and enable the new FirstNet communications capabilities.

08:38 EDT Wells Fargo's Mack says customer experience scores have recovered since scandal

08:34 EDT Regulus promotes Mark Deeg to Chief Medical Officer - Regulus Therapeutics announced the promotion of Mark Deeg to Chief Medical Officer. Deeg joined Regulus in April as Vice President of Translational Medicine. In his new role, he will lead the Company's clinical development teams in addition to his oversight of translational medicine. Prior to joining Regulus, Dr. Deeg was the Chief Medical Officer of The Chorus Group, an autonomous early drug development division of Eli Lilly (LLY), focused on innovative approaches to drive rapid and efficient Proof-of-Concept decisions. Before joining Eli Lilly, Deeg served on the faculty at Indiana University for 11 years conducting translational research.

08:33 EDT Sonic announces new franchisee agreements across the U.S. - SONIC Drive-In announced five new agreements for franchise development in greater Washington, D.C., New York City, the Ohio River Valley, Alabama, Virginia and Washington. A mainstay in the South and Central Plains, SONIC continues to expand in all areas of the country to meet ever-growing consumer demand. Men of Grace, LLC will develop new drive-ins in the greater Washington, D.C. market including locations in Northern Virginia; Current franchisee Northfork Holdings acquired 21 existing drive-ins in the Ohio River Valley, Tennessee and Missouri, with an additional 21 drive-ins planned over the next decade; SD-Missouri acquired drive-ins in Alabama, Virginia, Tennessee and Georgia, and plans to build an additional 20 drive-ins in markets in which they currently operate; Eng LLC has signed an agreement to develop drive-ins in the five New York City boroughs over the next several years; Olympic Cascade LLC will build 11 drive-ins in the state of Washington over the next 10 years.

08:32 EDT Galectin Therapeutics: DSMB concludes NASH-CX trial should continue - Galectin Therapeutics announces the independent data safety monitoring board, or DSMB, recently concluded that, from a safety perspective, the company's NASH-CX trial should continue. This was the third time the DSMB met to evaluate the NASH-CX trial, all concluding with a positive review of the company's safety results and overall conduct of the trial. As of the time of their evaluation, therapy had been completed in 68% of subjects in the NASH-CX trial. The company expects to report the topline results of this trial in December 2017, as previously announced. The DSMB is a panel of experts not affiliated with the company nor involved in the conduct of the trial who are tasked with monitoring the safety of subjects enrolled. The panel recently met to review safety data of all enrolled subjects who had completed the trial. The feedback from the committee to the company was positive. First, the experts concluded that there were no safety concerns and that the clinical trial should continue as per the protocol. Second, in reviewing the drug levels in subjects, there were no issues noted and the results appeared consistent across all subjects. Finally, the panel congratulated the company for a trial that has run so smoothly.

08:32 EDT SenesTech launches second manufacturing line in Flagstaff - SenesTech announced that in an effort to ensure that the company can meet the rapidly increasing demand for their innovative new rodent control technology, ContraPest, it has launched its second manufacturing line in Flagstaff. With the addition of this second line, the company's existing manufacturing capacity is expected to more than double. In order to utilize both manufacturing lines, SenesTech has added additional staff in both manufacturing and quality control.

08:22 EDT Sears says majority of layoffs coming at headquarters in Hoffman Estates - The company stated, "As part of the Company's ongoing efforts to simplify its organizational structure and enabling greater consolidation of the Sears and Kmart corporate and support functions, approximately 400 full-time positions at our corporate offices and support functions will be eliminated. The majority of these positions are related to the corporate workforce at Sears Holdings' headquarters in Hoffman Estates. In addition, certain positions at our field operations will be impacted by these restructuring actions. While the total number of people who are directly affected represents a small fraction of our total headcount, we are conscious of the impact on individual employees. We are providing eligible associates severance compensation and transition assistance. As part of the organizational restructuring, the company first eliminated open positions and reduced contract employees in an effort to minimize the impact on full-time employees."

08:18 EDT Sears to eliminate approximately 400 full-time positions - "Sears Holdings announced important actions related to its previously disclosed strategic restructuring program, which is designed to deliver $1.25B in annualized cost reductions. These actions include the elimination of approximately 400 full-time positions at our corporate offices and support functions globally, in addition to certain positions at our field operations as well as the store closures we initiated last week. Combined with the restructuring actions announced since the beginning of the fiscal year, Sears Holdings has actioned nearly $1B in annualized cost savings to date and is on track to deliver $1.25B in annualized savings through actions taken in fiscal year 2017. The Company will continue to take all necessary action to drive improvements in our organization to achieve our profitability objective with a greater focus on Best Members, Best Categories and Best Stores."

08:16 EDT Commercial Metals to exit International Marketing and Distribution Segment - Commercial Metals announced its plan to exit its International Marketing and Distribution Segment. As an initial step in this plan, on June 12, the Company and its wholly owned subsidiary, CMC Cometals International Sarl, signed a definitive agreement to sell its raw materials trading division, CMC Cometals, to Traxys North America L.L.C. and Traxys Europe S.A., which are affiliates of The Carlyle Group. CMC Cometals markets, distributes and processes metal, ores, concentrates, industrial minerals, ferroalloys, chemicals and industrial products worldwide. The transaction is expected to close later this summer and is subject to customary closing conditions and regulatory approvals. In addition, the Company announced its plan to pursue a sale of its CMC Cometals Steel division located in Irving, Texas, which markets steel products, as well as a restructuring and sale of the remaining trading operations located in Asia and Australia.

08:13 EDT RedHill Biopharma initiates promotion of Donnatal, EnteraGam in U.S. - RedHill Biopharma announced the initiation of the promotion of two gastrointestinal specialty products, Donnatal and EnteraGam in the U.S. RedHill's U.S. commercial operations, headquartered in Raleigh, NC, include a gastrointestinal-focused sales force of more than 30 sales representatives promoting Donnatal and EnteraGam in select U.S. territories.

08:11 EDT ConforMIS publishes study comparing CIM knee implants with OTS implants - ConforMIS announced the publication of a retrospective study comparing adverse events rates and cost of care for total knee arthroplasty, or TKA, patients treated with either customized individually made, or CIM, implants or standard off-the-shelf, or OTS, implants. Results were published in the peer-reviewed journal Arthroplasty Today on June 8, 2017. According to the study results, a smaller percentage of TKA patients treated with customized implants experienced adverse events at both discharge and 90 days after discharge. Furthermore, the total average real hospital costs between the CIM and OTS groups were nearly identical, suggesting that patients with customized implants received improved hospital outcomes at no additional cost to the hospital.

08:08 EDT Sonoco Products restates price increase for all URB products - Sonoco announced it has restated and is implementing a previously announced price increase for all grades of uncoated recycled paperboard, or URB, products in the United States and Canada, effective July 10. The low yield on the previously announced April URB price increase, along with the impact of rising raw material and other costs, makes it necessary to go back to the market to recover those costs, explained Palace Stepps, division vice president of sales and marketing for Sonoco's U.S. and Canada paper and adhesives.

08:07 EDT UPS announces plans for new $260M package processing facility in Plainfield, IN - UPS revealed plans for a new $260M package processing facility in Plainfield, IN, on 91 acres west of Indianapolis. Together with improvements to existing buildings on 81st Street, 16th Street and in Castleton, UPS expects to add more than 575 new full-time equivalent positions over the next five years in addition to gaining new flexibility for routing through its network.

08:06 EDT Long Island Iced Tea announces new Midwest partnership with FUNBeV Distribution - Long Island Iced Tea announced that it has signed an agreement with FUNBeV Distribution to serve as a distributor for its flagship brand Long Island Iced Tea throughout the Ohio market.

08:05 EDT Shaw Communications to sell ViaWest subsidiary for about C$2.3B - Shaw Communications announced that it has entered into a share purchase agreement with GI Partners portfolio company Peak 10 Holding to sell 100% of its wholly-owned subsidiary ViaWest for approximately C$2.3B, or $1.675B. ViaWest provides hybrid IT solutions, including colocation, cloud computing and security and compliance for North American enterprises. Shaw expects to realize net cash proceeds from the Transaction of approximately C$900M after the repayment of ViaWest level indebtedness of approximately $580M, repayment of the $380M Shaw credit facility borrowings associated with the original investment and subsequent INetU acquisition, and estimated transaction expenses and taxes. The transaction is subject to customary conditions, including U.S. regulatory approval and is expected to close by the end of fiscal 2017. The transaction is not subject to a financing condition.

08:04 EDT Concordia announces RedHill Biopharma started promoting Donnatal in U.S. - Concordia International (CXRX) together with its subsidiaries announced that RedHill Biopharma (RDHL) has started promoting Donnatal in certain U.S. territories. Concordia and RedHill originally announced this co-promotion agreement in January 2017 for Donnatal, Concordia's product used in the treatment of irritable bowel syndrome. Under the terms of the co-promotion agreement, RedHill will incur the sales and marketing costs associated with promotional activities for Donnata, while Concordia will provide materials and samples. Concordia will keep all revenue up to a predetermined level of sales. Only after reaching that predetermined level will revenue be shared between Concordia and RedHill.

08:03 EDT Shaw Communications to sell ViaWest subsidiary for about C$2.3B

08:03 EDT Arcadia Biosciences says Eric Rey, Gregory Waller join board - Arcadia Biosciences announced that Eric J. Rey and Gregory D. Waller have joined its board of directors. The two were elected at the company's annual stockholders meeting to replace directors Vic Knauf, Ph.D and Rajiv Shah, M.D. Additionally, the board of directors formally elected George F.J. Gosbee as its chair. Gosbee has served as interim chair of the board since November 2016. Rey is one of the founders of Arcadia Biosciences and served as president and CEO, as well as a director, until 2016. Waller is the former CFO of Ulthera Corporation, a privately-held company providing ultrasound technology for aesthetic and medical applications, which was acquired by Merz North America in 2014.

08:01 EDT Centene to expand its offerings in the 2018 Health Insurance Marketplace - Centene announced that it is expanding its offerings in the 2018 Health Insurance Marketplace, or exchange. The company is planning to enter Kansas, Missouri and Nevada in 2018, and expanding its footprint in six existing markets: Florida, Georgia, Indiana, Ohio, Texas, and Washington.

07:50 EDT Ron Barron says Under Armour in 'six month holding period'

07:46 EDT Billionaire investor sees Tesla shares hitting $1,000 in 2020 - Billionaire investor and founder of Baron Capital Ron Baron said on CNBC this morning that he sees shares of Tesla (TSLA) hitting $1,000 in 2020. Tesla in premarket trading is up $8.09, or 2%, to $367.10 after Berenberg analyst Alexander Haissl upgraded the shares to Buy from Hold with a price target of $464. Baron's funds own 1.6M shares of the electric carmaker. Telsa, following the "important" acquisition of SolarCity, has the "coolest roofs you've ever seen," Baron told viewers of CNBC. He noted that an analyst from his firm met with Tencent (TCEHY) and believes the Chinese investment holding company invested in Tesla to beat Alibaba (BABA) and Baidu (BIDU) to the punch. Baron noted that his average purchase price of Tesla is between $208 and $210 per share.

07:41 EDT Ron Baron sold half his stake in Under Armour - Ron Baron of Baron Capital is speaking on CNBC.

07:34 EDT Ron Baron says Tesla share appreciation 'just starting'

07:31 EDT Graphic Packaging to acquire Carton Craft, terms not disclosed - Graphic Packaging announced that its wholly owned subsidiary, Graphic Packaging International, has agreed to acquire substantially all the assets of Carton Craft Corporation and its affiliate Lithocraft. Carton Craft is an independent converter focused on the production of paperboard based air filter frames and folding cartons, and operates two converting plants in New Albany, Indiana. The combined businesses generated revenues of approximately $70M and strong converting EBITDA margins on an LTM basis. Synergies from the acquisition will be driven by the integration of additional CUK paperboard tons and cost efficiencies. On a post-synergy basis, the EV/EBITDA multiple for this transaction is expected to be below 6.0X. The acquisition is subject to standard closing requirements and regulatory review and is expected to close in the second quarter 2017.

07:16 EDT Ron Baron says Tesla has 'coolest roofs you've ever seen' - Ron Baron of Baron Capital is speaking on CNBC.

07:13 EDT Ron Baron says average Tesla share price is $208-$210 - Ron Baron of Baron Capital said on CNBC that he's been buying Tesla for a little over three years and that his average price for the stock is $208-$210. The fund manager expects to 15 or 20 times his money over a 15 year period.

07:07 EDT Intrexon, Johnson Matthey enter exclusive collaboration on microbial strains - Intrexon (XON) and Johnson Matthey (JMPLY) announced they have entered into an exclusive collaboration focused on the development of microbial strains for fermentative production of peptide-based active pharmaceutical ingredients. Through the collaboration, Intrexon will utilize its proprietary microbial hosts and fermentation processes for expression of peptides with high fidelity and titer. Intrexon will concentrate on the strain generation, initial fermentation and downstream isolation, as well as purification of the target APIs. Following this foundational work, Johnson Matthey will be responsible for product scale-up, formulation, and commercialization. Under the terms of the agreement, JM will have access to Intrexon's technologies and expertise for microbe-based fermentative production of specific target APIs, and Intrexon will receive a technology access fee and reimbursement for all research and development costs. The agreement also provides for milestone payments to Intrexon, as well as royalties based on net sales of commercialized products.

07:05 EDT pSivida second Phase 3 trial of Durasert achieves primary efficacy endpoint - pSivida announced the company's second Phase 3 trial of Durasert three-year treatment for posterior segment uveitis achieved the trial's primary endpoint. The study involved 153 patients and the primary endpoint was prevention of recurrence of posterior uveitis at six months with patients continuing to be followed for 36 months. Durasert three-year insert demonstrated a significant reduction in the recurrence of posterior segment uveitis through six months; 21.8% of Durasert-treated patients had a recurrence compared to 53.8% of patients in the sham group.

07:04 EDT MagneGas awarded $432,000 USDA grant to commercialize sterilization technology - MagneGas announced that it has been awarded a $431,874 grant from the United States Department of Agriculture. The grant will be used to accelerate the commercialization of MagneGas' plasma arc Venturi sterilization system for the treatment of pathogens and nutrients found in animal biosolid wastes. This grant was one of 33 that was awarded by the USDA nationwide in 2017.

07:03 EDT Moleculin Biotech announces preparation to file IND with FDA for WP1220 - Moleculin Biotech announced it has begun taking steps to file an IND with the FDA for its molecule WP1220 for the treatment of Cutaneous T-Cell Lymphoma, or CTCL, a rare form of skin cancer. The FDA previously granted an IND to WP1220 for development as a topical treatment of psoriasis, and although the molecule completed a Phase I clinical trial, providing initial data suggesting safety in humans, Phase II clinical trials did not demonstrate sufficient activity to warrant further development for that indication. To pursue further development of WP1220, the company believes the data used to support the prior IND may allow for a quicker pathway to an IND for CTCL.

07:02 EDT Navistar awarded $18.8M contract by U.S. Army - The U.S. Army recently awarded Navistar Defense a foreign military sales contract valued at $18.8M to provide 115 International 7000-MV Medium Tactical Vehicles to Iraq. The majority of the work will take place at the company's West Point, Mississippi assembly plant. Delivery is planned to be completed in January 2018.

07:01 EDT Becton Dickinson and FlowJo sign strategic relationship - FlowJo and BD announced that they have established a strategic relationship to catalyze the coordination of resources, people and data for the research market. Under the agreement, the companies are collaborating to offer the cloud-based platform, FlowJo Envoy, with BD FACSymphony, a cell analyzer enabling the simultaneous measurement of up to 50 different characteristics of a single cell. The combination will enable researchers to improve their workflow, collaborations, store their data in the cloud and share single-cell analysis data in real-time.

06:48 EDT LSI Industries appoints James Galeese as CFO - LSI Industries announced the appointment of James E. Galeese as Executive Vice President and CFO, succeeding Ronald S. Stowell, who has been named CFO Emeritus and Treasurer and will remain a key part of LSI's financial leadership team. Jeffery S. Bastian, Vice President and Controller, has been promoted to the role of Vice President and Chief Accounting Officer. Galeese most recently, from 2014 to present, served as Vice President, CFO, and a Director of privately held Universal Trailer Holding. He was with Philips Electronics NV from 1998 to 2014 as Senior Vice President and CFO for its North American Lighting business and its Electronics business. Prior to that Galeese served in the financial Controllership organization of Square D Company / Schneider Electric. He graduated from Miami University with a degree in Business Administration and obtained an MBA from Xavier University.

06:31 EDT Ares Management and Leonard Green & Partners increase their equity in ADMI - Ares Management and Leonard Green & Partners announced that private equity funds managed by each firm have entered into a definitive agreement to increase their equity ownership in Aspen Dental Management, or ADMI. The transaction is in partnership with ADMI's leadership team and funds affiliated with American Securities. Terms of the transaction were not disclosed. The transaction is expected to close by the end of the second quarter, subject to customary closing conditions.

06:03 EDT WPX Energy signs partnership with Howard Energy Partners - WPX Energy has signed a strategic partnership with Howard Energy Partners to jointly develop oil gathering and natural gas processing infrastructure in the Stateline area of the Permian's Delaware Basin. The joint venture with Howard is designed to support WPX's drilling operations in the Stateline area, representing 50,000 net acres, or 37% of WPX's roughly 135,000 net acre position in the Delaware. The joint venture includes crude oil gathering assets already under construction and a planned natural gas processing complex. It does not include WPX's natural gas and water gathering systems in the Stateline area, along with midstream rights to its remaining acreage position in the Delaware. In a separate transaction, WPX secured additional takeaway capacity for its Delaware Basin natural gas volumes and an equity position in the related pipeline. Transaction implies a value of $863M for Stateline oil gathering and gas processing projects. WPX receiving $300M upfront from Howard Energy Partners Howard Energy Partners to fund the first $263M of JV capital expenditures, including a $132M carry for WPX

05:27 EDT Thomson Reuters, Symphony announce strategic partnership - Thomson Reuters and Symphony Communication Services, LLC have joined forces to foster open collaboration and information sharing across the financial services industry. The partnership will provide an integrated experience between the companies' two platforms to enrich and streamline customer workflows by enabling market participants to seamlessly share Eikon objects such as charts, news and data via Symphony's messaging and collaboration platform. The integration, slated to be available later this year, will drive productivity across the financial services community through an integrated workflow solution. Users who have both Thomson Reuters Eikon and Symphony will be able to share Eikon content directly through the Symphony messaging and collaboration platform. If the recipient also has Eikon then they are able to share live data, news and charts to support dynamic, real-time collaboration. The integration will leverage both Eikon and Symphony open APIs.

05:20 EDT Sierra Wireless announces joint business relationship with PwC Canada - Sierra Wireless announced that it has entered into a joint business relationship with PwC Canada to help enterprises around the world develop and launch transformative IoT services and new business models. Together, Sierra Wireless and PWC Canada can advise enterprises on IoT transformation best practices and technologies, from articulating the value proposition and building the business case, through to implementation.

05:17 EDT Bungie, Activision announce early ship date for Destiny 2 - Bungie and Activision Publishing, a wholly owned subsidiary of Activision Blizzard, announced the early launch date for Destiny 2 on PlayStation4, and Xbox One scheduled for September 6. The PC version launch date is scheduled for October 24 and is now available to pre-order via Battle.net, Blizzard Entertainment's online gaming service. Debuted during the E3 Sony Press Conference was Destiny 2's latest cinematic story trailer "Our Darkest Hour" featuring the ominous villain, Dominus Ghaul. The Destiny 2 console beta early access period for PlayStation 4 players who pre-ordered the game will begin July 18 at 10am PDT, while early access for Xbox One players who pre-ordered will begin on July 19 at 10am PDT. Following the pre-order early access period, the Destiny 2 console beta will open up to all PlayStation 4 and Xbox One players on July 21 at 10am PDT and will conclude at 9pm PDT on July 23. The PC beta kick off is planned for late August. Further details on the PC beta to come soon.